Document:

Exhibit 4.1

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             CREDIT SUISSE FIRST BOSTON MORTGAGE SECURITIES CORP.,
                                   Depositor

                  KEYCORP REAL ESTATE CAPITAL MARKETS, INC.,
                                Master Servicer

                            LENNAR PARTNERS, INC.,
                               Special Servicer

                       WELLS FARGO BANK MINNESOTA, N.A.,
                                    Trustee

                        POOLING AND SERVICING AGREEMENT

                        Dated as of September 11, 2003

                                $1,339,373,693
                 Commercial Mortgage Pass-Through Certificates
                                Series 2003-C4

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                               TABLE OF CONTENTS

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Section                                                                                     Page
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<S>              <C>                                                                         <C>
                                   ARTICLE I

     DEFINITIONS; GENERAL INTERPRETIVE PRINCIPLES; CERTAIN CALCULATIONS IN RESPECT OF THE
                                 MORTGAGE POOL

SECTION 1.01.    Defined Terms...................................................................2
SECTION 1.02.    General Interpretive Principles................................................77
SECTION 1.03.    Certain Calculations in Respect of the Mortgage Loans..........................77
SECTION 1.04.    Crossed Trust Mortgage Loans...................................................80

                                  ARTICLE II

               CONVEYANCE OF MORTGAGE LOANS; ORIGINAL ISSUANCE OF CERTIFICATES

SECTION 2.01.    Conveyance of Original Trust Mortgage Loans....................................81
SECTION 2.02.    Acceptance by Trustee..........................................................84
SECTION 2.03.    Representations, Warranties and Covenants of the Depositor;
                   Repurchase and Substitution of Trust Mortgage Loans by the
                   Mortgage Loan Sellers for Defects in Mortgage Files and
                   Breaches of Representations and Warranties...................................86
SECTION 2.04.    Creation of REMIC I; Issuance of the REMIC I Regular Interests
                   and the REMIC I Residual Interest; Certain Matters Involving
                   REMIC I......................................................................93
SECTION 2.05.    Conveyance of the REMIC I Regular Interests; Acceptance of the
                   REMIC I Regular Interests by Trustee.........................................96
SECTION 2.06.    Creation of REMIC II; Issuance of the REMIC II Regular Interests
                   and the REMIC II Residual Interest; Certain Matters Involving
                   REMIC II.....................................................................97
SECTION 2.07.    Conveyance of the REMIC II Regular Interests; Acceptance of the
                   REMIC II Regular Interests by Trustee.......................................100
SECTION 2.08.    Creation of REMIC III; Issuance of the REMIC III Regular Interest
                   Certificates, the Group A-X REMIC III Regular Interests, the
                   Group A-SP REMIC III Regular Interests and the REMIC III
                   Residual Interest; Certain Matters Involving REMIC III......................100
SECTION 2.09.    Acceptance of Grantor Trusts; Issuance of the Class V and Class R
                   Certificates................................................................106

                                  ARTICLE III

                ADMINISTRATION AND SERVICING OF THE TRUST FUND

SECTION 3.01.    Master Servicer to Act as Master Servicer; Special Servicer to
                   Act as Special Servicer; Administration of the Mortgage Loans...............108
SECTION 3.02.    Collection of Mortgage Loan Payments..........................................112

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SECTION 3.03.    Collection of Taxes, Assessments and Similar Items; Servicing
                   Accounts....................................................................112
SECTION 3.04.    The Collection Account, Distribution Account, Excess Interest
                   Distribution Account, Excess Liquidation Proceeds Account,
                   Mayfair Mall Custodial Account and A/B Mortgage Loan
                   Combination Custodial Accounts..............................................117
SECTION 3.05.    Permitted Withdrawals from the Collection Account and the
                   Distribution Account........................................................125
SECTION 3.06.    Investment of Funds in the Collection Account, Mortgage Loan
                   Combination Custodial Accounts, Servicing Accounts, Cash
                   Collateral Accounts, Lock-Box Accounts, the Interest Reserve
                   Account, Distribution Account, Excess Liquidation Proceeds
                   Account, Excess Interest Distribution Account and the
                   REO Account.................................................................129
SECTION 3.07.    Maintenance of Insurance Policies; Errors and Omissions and
                   Fidelity Coverage...........................................................131
SECTION 3.08.    Enforcement of Due-on-Sale and Due-on-Encumbrance Clauses;
                   Assumption Agreements; Defeasance Provisions; Other Provisions..............136
SECTION 3.09.    Realization Upon Defaulted Mortgage Loans.....................................141
SECTION 3.10.    Trustee to Cooperate; Release of Mortgage Files...............................143
SECTION 3.11.    Servicing Compensation........................................................145
SECTION 3.12.    Reports to the Trustee........................................................150
SECTION 3.13.    Annual Statement as to Compliance.............................................155
SECTION 3.14.    Reports by Independent Public Accountants.....................................155
SECTION 3.15.    Access to Certain Information.................................................156
SECTION 3.16.    Title to REO Property; REO Account............................................159
SECTION 3.17.    Management of REO Property....................................................160
SECTION 3.18.    Fair Value Purchase Option; Sale of REO Properties............................163
SECTION 3.19.    Additional Obligations of the Master Servicer and Special
                   Servicer; Inspections; Appraisals...........................................167
SECTION 3.20.    Modifications, Waivers, Amendments and Consents...............................170
SECTION 3.21.    Transfer of Servicing Between Master Servicer and Special
                   Servicer; Record Keeping; Series 2003-C4 Directing
                   Certificateholder...........................................................174
SECTION 3.22.    Sub-Servicing Agreements......................................................177
SECTION 3.23.    Representations, Warranties and Covenants of the Master Servicer..............179
SECTION 3.24.    Representations, Warranties and Covenants of the Special Servicer.............180
SECTION 3.25.    Limitation on Liability of the Series 2003-C4 Directing
                   Certificateholder...........................................................182
SECTION 3.26.    Filings with the Securities and Exchange Commission...........................182
SECTION 3.27.    Lock-Box Accounts, Cash Collateral Accounts and Servicing
                   Accounts....................................................................186
SECTION 3.28.    Interest Reserve Account......................................................187
SECTION 3.29.    Limitations on and Authorizations of the Master Servicer and
                   Special Servicer with Respect to Certain Mortgage Loans.....................187
SECTION 3.30.    Master Servicer and Special Servicer May Own Certificates.....................189
SECTION 3.31.    Certain Matters Regarding the Mayfair Mall Mortgage Loan
                   Combination.................................................................189

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                                  ARTICLE IV

                        PAYMENTS TO CERTIFICATEHOLDERS

SECTION 4.01.    Distributions.................................................................197
SECTION 4.02.    Statements to Certificateholders; Certain Other Reports.......................208
SECTION 4.03.    P&I Advances..................................................................210
SECTION 4.04.    Allocation of Realized Losses and Additional Trust Fund Expenses..............212
SECTION 4.05.    Calculations..................................................................214

                                   ARTICLE V

                               THE CERTIFICATES

SECTION 5.01.    The Certificates..............................................................215
SECTION 5.02.    Registration of Transfer and Exchange of Certificates.........................215
SECTION 5.03.    Book-Entry Certificates.......................................................223
SECTION 5.04.    Mutilated, Destroyed, Lost or Stolen Certificates.............................224
SECTION 5.05.    Persons Deemed Owners.........................................................225
SECTION 5.06.    Certification by Certificateholders and Certificate Owners....................225

                                  ARTICLE VI

                 THE DEPOSITOR, THE MASTER SERVICER AND THE SPECIAL SERVICER

SECTION 6.01.    Liability of the Depositor, the Master Servicer and the Special
                   Servicer....................................................................226
SECTION 6.02.    Merger, Consolidation or Conversion of the Depositor, the Master
                   Servicer or the Special Servicer............................................226
SECTION 6.03.    Limitation on Liability of the Trustee, the Depositor, the Master
                   Servicer, the Special Servicer and Others...................................226
SECTION 6.04.    Master Servicer and Special Servicer Not to Resign............................229
SECTION 6.05.    Rights of the Depositor in Respect of the Master Servicer and the
                   Special Servicer............................................................229

                                  ARTICLE VII

                                    DEFAULT

SECTION 7.01.    Events of Default; Master Servicer and Special Servicer
                   Termination.................................................................231
SECTION 7.02.    Trustee to Act; Appointment of Successor......................................235
SECTION 7.03.    Notification to Certificateholders............................................236
SECTION 7.04.    Waiver of Events of Default...................................................236
SECTION 7.05.    Trustee Advances..............................................................237

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Section                                                                                     Page
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                                 ARTICLE VIII

                            CONCERNING THE TRUSTEE

SECTION 8.01.    Duties of Trustee.............................................................238
SECTION 8.02.    Certain Matters Affecting the Trustee.........................................239
SECTION 8.03.    Trustee Not Liable for Validity or Sufficiency of Certificates or
                   Trust Mortgage Loans........................................................240
SECTION 8.04.    Trustee May Own Certificates..................................................241
SECTION 8.05.    Fees and Expenses of Trustee; Indemnification of and by Trustee...............241
SECTION 8.06.    Eligibility Requirements for Trustee..........................................242
SECTION 8.07.    Resignation and Removal of the Trustee........................................242
SECTION 8.08.    Successor Trustee.............................................................243
SECTION 8.09.    Merger or Consolidation of Trustee............................................244
SECTION 8.10.    Appointment of Co-Trustee or Separate Trustee.................................244
SECTION 8.11.    Access to Certain Information.................................................245
SECTION 8.12.    Appointment of Custodians.....................................................247
SECTION 8.13.    Representations, Warranties and Covenants of the Trustee......................247

                                  ARTICLE IX

                                  TERMINATION

SECTION 9.01.    Termination Upon Repurchase or Liquidation of All Trust Mortgage
                   Loans.......................................................................249
SECTION 9.02.    Additional Termination Requirements...........................................251

                                   ARTICLE X

                           ADDITIONAL TAX PROVISIONS

SECTION 10.01.   Tax Administration............................................................252
SECTION 10.02.   Depositor, Master Servicer and Special Servicer to Cooperate with
                   Trustee.....................................................................255

                                  ARTICLE XI

                           MISCELLANEOUS PROVISIONS

SECTION 11.01.   Amendment.....................................................................256
SECTION 11.02.   Recordation of Agreement; Counterparts........................................257
SECTION 11.03.   Limitation on Rights of Certificateholders and Non-Trust
                   Companion Loan Holders......................................................258
SECTION 11.04.   Governing Law.................................................................259
SECTION 11.05.   Notices.......................................................................259
SECTION 11.06.   Severability of Provisions....................................................259
SECTION 11.07.   Grant of a Security Interest..................................................260
SECTION 11.08.   Successors and Assigns; Beneficiaries.........................................260

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Section                                                                                     Page
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SECTION 11.09.   Article and Section Headings..................................................260
SECTION 11.10.   Notices to Rating Agencies....................................................260

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                                   EXHIBITS

A-1              Form of Class A-X and Class A-SP Certificates
A-2              Form of Class A-1, Class A-2, Class A-3, Class A-4, Class B,
                   Class C, Class D and Class E Certificates
A-3              Form of Class A-1-A, Class F, Class G, Class H, Class J,
                   Class K, Class L, Class M, Class N, Class O, Class P and
                   Class MM Certificates
A-4              Form of Class V Certificates
A-5              Form of Class R Certificates
B-1              Schedule of Column Trust Mortgage Loans
B-2              Schedule of KeyBank Trust Mortgage Loans
C-1              List of Additional Collateral Trust Mortgage Loans
C-2              List of Mezzanine Loans
D-1              Form of Master Servicer Request for Release
D-2              Form of Special Servicer Request for Release
E                Form of Trustee Report
F-1A             Form I of Transferor Certificate for Transfers of Non-
                   Registered Certificates
F-1B             Form  II of Transferor Certificate for Transfers of Non-
                   Registered Certificates
F-1C             Form I of Transferor Certificate for Transfers of Interests
                   in Global Certificates for Classes of Non-Registered
                   Certificates
F-1D             Form II of Transferor Certificate for Transfers of Interests
                   in Global Certificates for Classes of Non-Registered
                   Certificates
F-2A             Form I of Transferee Certificate for Transfers of Non-
                   Registered Certificates Held in Physical Form
F-2B             Form II of Transferee Certificate for Transfers of Non-
                   Registered Certificates Held in Physical Form
F-2C             Form I of Transferee Certificate for Transfers of Interests in
                   Non-Registered Certificates Held in Book-Entry Form
F-2D             Form II of Transferee Certificate for Transfers of Interests
                   in Non-Registered Certificates Held in Book-Entry Form
G-1              Form of Transferee Certificate in Connection with ERISA
                   (Non-Registered Certificates and Non-Investment Grade
                   Certificates Held in Fully-Registered, Certificated Form)
G-2              Form of Transferee Certificate in Connection with ERISA
                   (Non-Registered Certificates Held in Book-Entry Form)
H-1              Form of Residual Transfer Affidavit for Transfers of Class R
                   Certificates
H-2              Form of Transferor Certificate for Transfers of Class R
                   Certificates
I                Form of Acknowledgement of a Proposed Special Servicer
J                Form of Affidavit of Lost Note
K                Form of Notice Regarding Defeasance of Trust Mortgage Loan
L                Schedule of Reference Rates
M                Form of Sarbanes-Oxley Certification
N                Schedule of Designated Sub-Servicers
O                Form of Custodial Certification
P                Trust Mortgage Loans Covered by Environmental Insurance Policy

                                     -vi-

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               This Pooling and Servicing Agreement (this "Agreement"), is
dated and effective as of September 11, 2003, among CREDIT SUISSE FIRST BOSTON
MORTGAGE SECURITIES CORP., as Depositor, KEYCORP REAL ESTATE CAPITAL MARKETS,
INC., as Master Servicer, LENNAR PARTNERS, INC., as Special Servicer, and
WELLS FARGO BANK MINNESOTA, N.A., as Trustee.

                            PRELIMINARY STATEMENT:

               Column Financial, Inc. (together with its successors in
interest, "Column") has sold to Credit Suisse First Boston Mortgage Securities
Corp. (together with its successors in interest, the "Depositor"), pursuant to
the Mortgage Loan Purchase Agreement dated as of September 11, 2003 (as such
may from time to time hereafter be amended, modified, supplemented and/or
restated, the "Column Mortgage Loan Purchase Agreement"), between Column as
seller and the Depositor as purchaser, those mortgage loans initially
identified on the schedule attached hereto as Exhibit B-1 (such mortgage
loans, the "Original Column Trust Mortgage Loans").

               KeyBank National Association (together with its successors in
interest, "KeyBank") has sold to the Depositor, pursuant to the Mortgage Loan
Purchase Agreement dated as of September 11, 2003 (as such may from time to
time hereafter be amended, modified, supplemented and/or restated, the
"KeyBank Mortgage Loan Purchase Agreement"), between KeyBank as seller and the
Depositor as purchaser, those mortgage loans initially identified on the
schedule attached hereto as Exhibit B-2 (such mortgage loans, the "Original
KeyBank Trust Mortgage Loans").

               The Depositor desires, among other things, to: (i) establish a
trust fund, consisting primarily of the Original Column Trust Mortgage Loans
and the Original KeyBank Trust Mortgage Loans (collectively, the "Original
Trust Mortgage Loans") and certain related rights, funds and property; (ii)
cause the issuance of a series of mortgage pass-through certificates in
multiple classes, which certificates will, in the aggregate, evidence the
entire beneficial ownership interest in such trust fund; and (iii) provide for
the servicing and administration of the mortgage loans, including the Original
Trust Mortgage Loans, and the other assets that from time to time constitute
part of such trust fund.

               Wells Fargo Bank Minnesota, N.A. (together with its successors
in interest, "Wells Fargo") desires to act as "Trustee" hereunder; KeyCorp
Real Estate Capital Markets, Inc. (together with its successors in interest,
"KRECM") desires to act as "Master Servicer" hereunder; and Lennar Partners,
Inc. (together with its successors in interest, "Lennar") desires to act as
"Special Servicer" hereunder.

               In consideration of the mutual agreements herein contained, the
parties hereto agree as follows:

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                                  ARTICLE I

                 DEFINITIONS; GENERAL INTERPRETIVE PRINCIPLES;
             CERTAIN CALCULATIONS IN RESPECT OF THE MORTGAGE POOL

          SECTION 1.01. Defined Terms.

          Whenever used in this Agreement the following words and phrases,
unless the context otherwise requires, shall have the meanings specified in
this Section 1.01, subject to modification in accordance with Section 1.04.

          "30/360 Basis": The accrual of interest calculated on the basis of a
360-day year consisting of twelve 30-day months.

          "30/360 Mortgage Loan": A Mortgage Loan that accrues interest on a
30/360 Basis.

          "30/360 Trust Mortgage Loan": A Trust Mortgage Loan that is a 30/360
Mortgage Loan.

          "A-Note Trust Mortgage Loan": Any of the Trust Mortgage Loans
secured by the Mortgaged Properties identified on the Trust Mortgage Loan
Schedule as Princeton Square Apartments, Ryan's Pointe Apartments and Canyon
Woods Apartments, respectively.

          "A/B Intercreditor Agreement": With respect to each A/B Mortgage
Loan Combination, the related Intercreditor Agreement Among Note Holders by
and between Column or KeyBank, as applicable, as the initial holder of the
related A-Note Trust Mortgage Loan, and CBA-Mezzanine Capital Finance, LLC, as
the initial holder of the related B-Note Non-Trust Companion Loan.

          "A/B Material Default": With respect to any A/B Mortgage Loan
Combination, a "Material Default" under, and within the meaning of, the
related A/B Intercreditor Agreement.

          "A/B Mortgage Loan Combination": Any A-Note Trust Mortgage Loan,
together with the related B-Note Non-Trust Companion Loan.

          "A/B Mortgage Loan Combination Custodial Account": With respect to
any A/B Mortgage Loan Combination, the segregated account or accounts (or,
subject to Section 3.04(h), the sub-account) created and maintained by the
Master Servicer pursuant to Section 3.04(e) in the name of the Trustee on
behalf of the Certificateholders and the related B-Note Non-Trust Companion
Loan Holder, which, subject to Section 3.04(h), shall be entitled "[name of
Master Servicer], as Master Servicer, in trust for [name of Trustee], on
behalf of Holders of Credit Suisse First Boston Mortgage Securities Corp.,
Commercial Mortgage Pass-Through Certificates, Series 2003-C4 and [name of the
related B-Note Non-Trust Companion Loan Holder], as their interests may
appear". Each A/B Mortgage Loan Combination Custodial Account shall be an
Eligible Account (or, subject to Section 3.04(h), a sub-account of an Eligible
Account) and, only to the extent of amounts therein relating to the subject
A-Note Trust Mortgage Loan, shall be part of REMIC I.

          "Acceptable Insurance Default": With respect to any Mortgage Loan,
any default under the related Mortgage Loan Documents resulting from (a) the
exclusion of acts of terrorism from coverage under the related all risk
casualty insurance policy maintained on the subject Mortgaged

                                     -2-
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Property and (b) the related Borrower's failure to obtain insurance that
specifically covers acts of terrorism, but only if the Special Servicer has
determined, in its reasonable judgment, that (i) such insurance is not
available at commercially reasonable rates and the subject hazards are not at
the time commonly insured against for real properties similar to the subject
Mortgaged Property and located in and around the region in which the subject
Mortgaged Property is located or (ii) such insurance is not available at any
rate.

          "Accountant's Statement": As defined in Section 3.14.

          "Acquisition Date": With respect to any REO Property, the first day
on which such REO Property is considered to be acquired by the Trust Fund and
REMIC I within the meaning of Treasury regulations section 1.856-6(b)(1),
which is the first day on which REMIC I is treated as the owner of such REO
Property for federal income tax purposes.

          "Actual/360 Basis": The accrual of interest calculated on the basis
of the actual number of days elapsed during any calendar month (or other
applicable recurring accrual period) in a year assumed to consist of 360 days.

          "Actual/360 Mortgage Loan": A Mortgage Loan that accrues interest on
an Actual/360 Basis.

          "Actual/360 Trust Mortgage Loan": A Trust Mortgage Loan that is an
Actual/360 Mortgage Loan.

          "Additional Collateral": With respect to each Additional Collateral
Trust Mortgage Loan, the cash reserve or irrevocable letter of credit
partially securing such Additional Collateral Trust Mortgage Loan.

          "Additional Collateral Trust Mortgage Loan": Any of the Trust
Mortgage Loans identified on Exhibit C-1 attached hereto.

          "Additional Trust Fund Expense": Any expense (other than Master
Servicing Fees and Trustee Fees) experienced with respect to the Trust Fund
and not otherwise included in the calculation of a Realized Loss that would
result in the Holders of any Class of REMIC III Regular Interest Certificates
receiving less than the total of their Current Interest Distribution Amount,
Carryforward Interest Distribution Amount and Principal Distribution Amount
for any Distribution Date.

          "Additional Yield Amount": As defined in Section 4.01(d).

          "Adjusted REMIC II Remittance Rate": With respect to any REMIC II
Regular Interest (other than REMIC II Regular Interest MM), for any Interest
Accrual Period, the rate per annum specified below:

          (a) with respect to REMIC II Regular Interest A-1-1, for any
     Interest Accrual Period, 2.6110% per annum;

          (b) with respect to REMIC II Regular Interest A-1-2, (i) for any
     Interest Accrual Period from and including the September 2003 Interest
     Accrual Period through and including the

                                     -3-
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     August 2004 Interest Accrual Period, an annual rate equal to the greater
     of (A) 2.6110% per annum and (B) the Reference Rate for the related
     Distribution Date, and (ii) for any Interest Accrual Period subsequent to
     the August 2004 Interest Accrual Period, 2.6110% per annum;

          (c) with respect to REMIC II Regular Interest A-1-3, (i) for any
     Interest Accrual Period from and including the September 2003 Interest
     Accrual Period through and including the August 2005 Interest Accrual
     Period, an annual rate equal to the greater of (A) 2.6110% per annum and
     (B) the Reference Rate for the related Distribution Date, and (ii) for
     any Interest Accrual Period subsequent to the August 2005 Interest
     Accrual Period, 2.6110% per annum;

          (d) with respect to REMIC II Regular Interest A-2-1, (i) for any
     Interest Accrual Period from and including the September 2003 Interest
     Accrual Period through and including the August 2005 Interest Accrual
     Period, an annual rate equal to the greater of (A) 3.9080% per annum and
     (B) the Reference Rate for the related Distribution Date, and (ii) for
     any Interest Accrual Period subsequent to the August 2005 Interest
     Accrual Period, 3.9080% per annum;

          (e) with respect to REMIC II Regular Interest A-2-2, (i) for any
     Interest Accrual Period from and including the September 2003 Interest
     Accrual Period through and including the August 2006 Interest Accrual
     Period, an annual rate equal to the greater of (A) 3.9080% per annum and
     (B) the Reference Rate for the related Distribution Date, and (ii) for
     any Interest Accrual Period subsequent to the August 2006 Interest
     Accrual Period, 3.9080% per annum;

          (f) with respect to REMIC II Regular Interest A-2-3, (i) for any
     Interest Accrual Period from and including the September 2003 Interest
     Accrual Period through and including the August 2007 Interest Accrual
     Period, an annual rate equal to the greater of (A) 3.9080% per annum and
     (B) the Reference Rate for the related Distribution Date, and (ii) for
     any Interest Accrual Period subsequent to the August 2007 Interest
     Accrual Period, 3.9080% per annum;

          (g) with respect to REMIC II Regular Interest A-3, (i) for any
     Interest Accrual Period from and including the September 2003 Interest
     Accrual Period through and including the August 2007 Interest Accrual
     Period, an annual rate equal to the greater of (A) 4.7000% per annum and
     (B) the Reference Rate for the related Distribution Date, and (ii) for
     any Interest Accrual Period subsequent to the August 2007 Interest
     Accrual Period, 4.7000% per annum;

          (h) with respect to REMIC II Regular Interest A-4-1, (i) for any
     Interest Accrual Period from and including the September 2003 Interest
     Accrual Period through and including the August 2007 Interest Accrual
     Period, an annual rate (in no event in excess of the REMIC II Remittance
     Rate in effect for REMIC II Regular Interest A-4-1 for such Interest
     Accrual Period) equal to the greater of (A) 5.1370% per annum and (B) the
     Reference Rate for the related Distribution Date, and (ii) for any
     Interest Accrual Period subsequent to the August 2007 Interest Accrual
     Period, an annual rate equal to the lesser of (X) 5.1370% per annum and
     (Y) the REMIC II Remittance Rate in effect for REMIC II Regular Interest
     A-4-1 for such Interest Accrual Period;

          (i) with respect to REMIC II Regular Interest A-4-2, (i) for any
     Interest Accrual Period from and including the September 2003 Interest
     Accrual Period through and including the August 2008 Interest Accrual
     Period, an annual rate (in no event in excess of the REMIC II Remittance
     Rate in effect for REMIC II Regular Interest A-4-2 for such Interest
     Accrual Period)

                                     -4-
<PAGE>

     equal to the greater of (A) 5.1370% per annum and (B) the
     Reference Rate for the related Distribution Date, and (ii) for any
     Interest Accrual Period subsequent to the August 2008 Interest Accrual
     Period, an annual rate equal to the lesser of (X) 5.1370% per annum and
     (Y) the REMIC II Remittance Rate in effect for REMIC II Regular Interest
     A-4-2 for such Interest Accrual Period;

          (j) with respect to REMIC II Regular Interest A-4-3, (i) for any
     Interest Accrual Period from and including the September 2003 Interest
     Accrual Period through and including the August 2009 Interest Accrual
     Period, an annual rate (in no event in excess of the REMIC II Remittance
     Rate in effect for REMIC II Regular Interest A-4-3 for such Interest
     Accrual Period) equal to the greater of (A) 5.1370% per annum and (B) the
     Reference Rate for the related Distribution Date, and (ii) for any
     Interest Accrual Period subsequent to the August 2009 Interest Accrual
     Period, an annual rate equal to the lesser of (X) 5.1370% per annum and
     (Y) the REMIC II Remittance Rate in effect for REMIC II Regular Interest
     A-4-3 for such Interest Accrual Period;

          (k) with respect to REMIC II Regular Interest A-4-4, (i) for any
     Interest Accrual Period from and including the September 2003 Interest
     Accrual Period through and including the August 2010 Interest Accrual
     Period, an annual rate (in no event in excess of the REMIC II Remittance
     Rate in effect for REMIC II Regular Interest A-4-4 for such Interest
     Accrual Period) equal to the greater of (A) 5.1370% per annum and (B) the
     Reference Rate for the related Distribution Date, and (ii) for any
     Interest Accrual Period subsequent to the August 2010 Interest Accrual
     Period, an annual rate equal to the lesser of (X) 5.1370% per annum and
     (Y) the REMIC II Remittance Rate in effect for REMIC II Regular Interest
     A-4-4 for such Interest Accrual Period;

          (l) with respect to REMIC II Regular Interest A-1-A-1, for any
     Interest Accrual Period, an annual rate equal to the lesser of (i)
     4.8570% per annum and (ii) the REMIC II Remittance Rate in effect for
     REMIC II Regular Interest A-1-A-1 for such Interest Accrual Period;

          (m) with respect to REMIC II Regular Interest A-1-A-2, (i) for any
     Interest Accrual Period from and including the September 2003 Interest
     Accrual Period through and including the August 2004 Interest Accrual
     Period, an annual rate (in no event in excess of the REMIC II Remittance
     Rate in effect for REMIC II Regular Interest A-1-A-2 for such Interest
     Accrual Period) equal to the greater of (A) 4.8570% per annum and (B) the
     Reference Rate for the related Distribution Date, and (ii) for any
     Interest Accrual Period subsequent to the August 2004 Interest Accrual
     Period, an annual rate equal to the lesser of (X) 4.8570% per annum and
     (Y) the REMIC II Remittance Rate in effect for REMIC II Regular Interest
     A-1-A-2 for such Interest Accrual Period;

          (n) with respect to REMIC II Regular Interest A-1-A-3, (i) for any
     Interest Accrual Period from and including the September 2003 Interest
     Accrual Period through and including the August 2005 Interest Accrual
     Period, an annual rate (in no event in excess of the REMIC II Remittance
     Rate in effect for REMIC II Regular Interest A-1-A-3 for such Interest
     Accrual Period) equal to the greater of (A) 4.8570% per annum and (B) the
     Reference Rate for the related Distribution Date, and (ii) for any
     Interest Accrual Period subsequent to the August 2005 Interest

                                     -5-
<PAGE>

     Accrual Period, an annual rate equal to the lesser of (X) 4.8570% per
     annum and (Y) the REMIC II Remittance Rate in effect for REMIC II Regular
     Interest A-1-A-3 for such Interest Accrual Period;

          (o) with respect to REMIC II Regular Interest A-1-A-4, (i) for any
     Interest Accrual Period from and including the September 2003 Interest
     Accrual Period through and including the August 2006 Interest Accrual
     Period, an annual rate (in no event in excess of the REMIC II Remittance
     Rate in effect for REMIC II Regular Interest A-1-A-4 for such Interest
     Accrual Period) equal to the greater of (A) 4.8570% per annum and (B) the
     Reference Rate for the related Distribution Date, and (ii) for any
     Interest Accrual Period subsequent to the August 2006 Interest Accrual
     Period, an annual rate equal to the lesser of (X) 4.8570% per annum and
     (Y) the REMIC II Remittance Rate in effect for REMIC II Regular Interest
     A-1-A-4 for such Interest Accrual Period;

          (p) with respect to REMIC II Regular Interest A-1-A-5, (i) for any
     Interest Accrual Period from and including the September 2003 Interest
     Accrual Period through and including the August 2007 Interest Accrual
     Period, an annual rate (in no event in excess of the REMIC II Remittance
     Rate in effect for REMIC II Regular Interest A-1-A-5 for such Interest
     Accrual Period) equal to the greater of (A) 4.8570% per annum and (B) the
     Reference Rate for the related Distribution Date, and (ii) for any
     Interest Accrual Period subsequent to the August 2007 Interest Accrual
     Period, an annual rate equal to the lesser of (X) 4.8570% per annum and
     (Y) the REMIC II Remittance Rate in effect for REMIC II Regular Interest
     A-1-A-5 for such Interest Accrual Period;

          (q) with respect to REMIC II Regular Interest A-1-A-6, (i) for any
     Interest Accrual Period from and including the September 2003 Interest
     Accrual Period through and including the August 2008 Interest Accrual
     Period, an annual rate (in no event in excess of the REMIC II Remittance
     Rate in effect for REMIC II Regular Interest A-1-A-6 for such Interest
     Accrual Period) equal to the greater of (A) 4.8570% per annum and (B) the
     Reference Rate for the related Distribution Date, and (ii) for any
     Interest Accrual Period subsequent to the August 2008 Interest Accrual
     Period, an annual rate equal to the lesser of (X) 4.8570% per annum and
     (Y) the REMIC II Remittance Rate in effect for REMIC II Regular Interest
     A-1-A-6 for such Interest Accrual Period;

          (r) with respect to REMIC II Regular Interest A-1-A-7, (i) for any
     Interest Accrual Period from and including the September 2003 Interest
     Accrual Period through and including the August 2009 Interest Accrual
     Period, an annual rate (in no event in excess of the REMIC II Remittance
     Rate in effect for REMIC II Regular Interest A-1-A-7 for such Interest
     Accrual Period) equal to the greater of (A) 4.8570% per annum and (B) the
     Reference Rate for the related Distribution Date, and (ii) for any
     Interest Accrual Period subsequent to the August 2009 Interest Accrual
     Period, an annual rate equal to the lesser of (X) 4.8570% per annum and
     (Y) the REMIC II Remittance Rate in effect for REMIC II Regular Interest
     A-1-A-7 for such Interest Accrual Period;

          (s) with respect to REMIC II Regular Interest A-1-A-8, (i) for any
     Interest Accrual Period from and including the September 2003 Interest
     Accrual Period through and including the August 2010 Interest Accrual
     Period, an annual rate (in no event in excess of the REMIC II

                                     -6-
<PAGE>

     Remittance Rate in effect for REMIC II Regular Interest A-1-A-8 for
     such Interest Accrual Period) equal to the greater of (A) 4.8570% per
     annum and (B) the Reference Rate for the related Distribution Date, and
     (ii) for any Interest Accrual Period subsequent to the August 2010
     Interest Accrual Period, an annual rate equal to the lesser of (X)
     4.8570% per annum and (Y) the REMIC II Remittance Rate in effect for
     REMIC II Regular Interest A-1-A-8 for such Interest Accrual Period;

          (t) with respect to REMIC II Regular Interest B, (i) for any
     Interest Accrual Period from and including the September 2003 Interest
     Accrual Period through and including the August 2010 Interest Accrual
     Period, an annual rate (in no event in excess of the REMIC II Remittance
     Rate in effect for REMIC II Regular Interest B for such Interest Accrual
     Period) equal to the greater of (A) 5.2530% per annum and (B) the
     Reference Rate for the related Distribution Date, and (ii) for any
     Interest Accrual Period subsequent to the August 2010 Interest Accrual
     Period, an annual rate equal to the lesser of (X) 5.2530% per annum and
     (Y) the REMIC II Remittance Rate in effect for REMIC II Regular Interest
     B for such Interest Accrual Period;

          (u) with respect to REMIC II Regular Interest C, (i) for any
     Interest Accrual Period from and including the September 2003 Interest
     Accrual Period through and including the August 2010 Interest Accrual
     Period, an annual rate (in no event in excess of the REMIC II Remittance
     Rate in effect for REMIC II Regular Interest C for such Interest Accrual
     Period) equal to the greater of (A) 5.3160% per annum and (B) the
     Reference Rate for the related Distribution Date, and (ii) for any
     Interest Accrual Period subsequent to the August 2010 Interest Accrual
     Period, an annual rate equal to the lesser of (X) 5.3160% per annum and
     (Y) the REMIC II Remittance Rate in effect for REMIC II Regular Interest
     C for such Interest Accrual Period;

          (v) with respect to REMIC II Regular Interest D, for any Interest
     Accrual Period, an annual rate equal to the lesser of (i) 5.3530% per
     annum and (ii) the REMIC II Remittance Rate in effect for REMIC II
     Regular Interest D for such Interest Accrual Period;

          (w) with respect to REMIC II Regular Interest E, for any Interest
     Accrual Period, an annual rate equal to the lesser of (i) 5.4420% per
     annum and (ii) the REMIC II Remittance Rate in effect for REMIC II
     Regular Interest E for such Interest Accrual Period;

          (x) with respect to each of REMIC II Regular Interest F, REMIC II
     Regular Interest G and REMIC II Regular Interest H, for any Interest
     Accrual Period, an annual rate equal to the REMIC II Remittance Rate in
     effect for the subject REMIC II Regular Interest for such Interest
     Accrual Period; and

          (y) with respect to each of 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, REMIC II Regular Interest O and
     REMIC II Regular Interest P, for any Interest Accrual Period, an annual
     rate equal to the lesser of (i) 5.3220% per annum and (ii) the REMIC II
     Remittance Rate in effect for the subject REMIC II Regular Interest for
     such Interest Accrual Period.

          "Administrative Fee Rate": With respect to each Trust Mortgage Loan
(and any successor REO Trust Mortgage Loan with respect thereto), the sum of
the related Master Servicing Fee Rate, plus the Trustee Fee Rate.

                                     -7-
<PAGE>

          "Advance": Any P&I Advance or Servicing Advance.

          "Advance Interest": The interest accrued on any Advance at the
Reimbursement Rate, which is payable to the party hereto that made that
Advance, all in accordance with Section 3.03(d) or Section 4.03(d), as
applicable.

          "Adverse Grantor Trust Event": Either (i) any impairment of the
status of either Grantor Trust Pool as a Grantor Trust; or (ii) the imposition
of a tax upon either Grantor Trust Pool or any of its assets or transactions.

          "Adverse Rating Event": With respect to any Class of Rated
Certificates and each Rating Agency that has assigned a rating thereto, as of
any date of determination, the qualification, downgrade or withdrawal of the
rating then assigned to such Class of Rated Certificates by such Rating Agency
(or the placing of such Class of Rated Certificates on "negative credit watch"
status in contemplation of any such action with respect thereto).

          "Adverse REMIC Event": Either (i) any impairment of the status of
any REMIC Pool as a REMIC or (ii) except as permitted by Section 3.17(a), the
imposition of a tax upon any REMIC Pool or any of its assets or transactions
(including the tax on prohibited transactions as defined in Section 860F(a)(2)
of the Code and the tax on contributions set forth in Section 860G(d) of the
Code).

          "Affiliate": 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.

          "Agreement": This Pooling and Servicing Agreement, as it may be
amended, modified, supplemented or restated following the Closing Date.

          "AICPA": As defined in Section 3.14.

          "Alternative Adjusted REMIC II Remittance Rate": With respect to any
REMIC II Regular Interest that constitutes a Corresponding REMIC II Regular
Interest as to any Group A-SP REMIC III Regular Interest, for any Interest
Accrual Period, a rate per annum equal to the Pass-Through Rate in effect
during such Interest Accrual Period for the Corresponding Class of Principal
Balance Certificates in respect of such REMIC II Regular Interest.

          "A.M. Best": A.M. Best Company or its successor in interest.

          "Anticipated Repayment Date": With respect to any ARD Mortgage Loan,
the date specified in the related Note, as of which Excess Interest shall
begin to accrue on such Mortgage Loan, which date is prior to the Maturity
Date for such Mortgage Loan.

          "Appraisal": An appraisal prepared in accordance with 12 C.F.R. ss.
225.64 by an Appraiser selected by the Master Servicer or Special Servicer, as
applicable.

                                     -8-
<PAGE>

          "Appraisal Reduction Amount": For any Distribution Date and for any
Trust Mortgage Loan (other than the Mayfair Mall Trust Mortgage Loan) as to
which an Appraisal Reduction Event has occurred, an amount calculated monthly
by the Special Servicer as of (and reported to the Master Servicer and the
Trustee no later than) the related Determination Date equal to the excess, if
any, of (1) the Stated Principal Balance of the subject Trust Mortgage Loan
over (2) the excess, if any, of (i) the sum of (A) 90% of the Appraised Value
of the related Mortgaged Property as determined (I) with respect to any Trust
Mortgage Loan with an outstanding principal balance equal to or greater than
$2,000,000, by an Appraisal (or an update of a prior Appraisal) (the costs of
which shall be paid by the Master Servicer as a Servicing Advance) or (II)
with respect to any Trust Mortgage Loan with an outstanding principal balance
less than $2,000,000, by an Appraisal (or an update of a prior Appraisal) (the
costs of which shall be paid by the Master Servicer as a Servicing Advance) or
an internal valuation performed by the Special Servicer, plus (B) any letter
of credit, reserve, escrow or similar amount held by the Master Servicer which
may be applied to payments on the subject Trust Mortgage Loan, over (ii) the
sum of (X) to the extent not previously advanced by the Master Servicer or the
Trustee, all unpaid interest on the subject Trust Mortgage Loan at a per annum
rate equal to its Mortgage Rate, (Y) all unreimbursed Advances in respect of
the subject Trust Mortgage Loan, together with interest thereon at the
Reimbursement Rate, and (Z) all currently due and unpaid real estate taxes and
assessments, Insurance Policy premiums, ground rents and all other amounts due
and unpaid with respect to the subject Trust Mortgage Loan (which taxes,
assessments, premiums, ground rents and other amounts have not been subject to
an Advance by the Master Servicer or the Trustee and/or for which funds have
not been escrowed); provided that, if neither a required Appraisal has been
obtained nor an internal valuation is completed within the period required
under Section 3.19(c) with respect to the subject Trust Mortgage Loan, then
until such Appraisal is obtained or such internal valuation is completed, as
the case may be, in accordance with Section 3.19(c), the subject Appraisal
Reduction Amount shall be equal to 25% of the Stated Principal Balance of the
subject Trust Mortgage Loan as of the date of the related Appraisal Reduction
Event; and provided, further, that if the related Mortgaged Property has
become an REO Property, then the above references to "Trust Mortgage Loan" in
this definition shall mean the related REO Trust Mortgage Loan.

          For any Distribution Date and for the Mayfair Mall Trust Mortgage
Loan (if an Appraisal Reduction Event has occurred with respect thereto), an
amount calculated by the Special Servicer as of (and reported to the Master
Servicer and the Trustee no later than) the related Determination Date equal
to the excess, if any, of (1) the Stated Principal Balance of the Mayfair Mall
Trust Mortgage Loan over (2) the excess, if any, of (i) 25% of the sum of (A)
90% of the Appraised Value of the Mayfair Mall Mortgaged Property as
determined by an Appraisal (or an update of a prior Appraisal) (the costs of
which shall be paid by the Master Servicer as a Servicing Advance), plus (B)
any letter of credit, reserve, escrow or similar amount held by the Master
Servicer which may be applied to payments on the Mayfair Mall Mortgage Loan
Combination, over (ii) the sum of (X) to the extent not previously advanced by
the Master Servicer or the Trustee, all unpaid interest on the Mayfair Mall
Trust Mortgage Loan at a per annum rate equal to its Mortgage Rate, (Y) all
unreimbursed Advances made in respect of and allocable to the Mayfair Mall
Trust Mortgage Loan, together with interest thereon at the Reimbursement Rate,
and (Z) 25% of all currently due and unpaid real estate taxes and assessments,
Insurance Policy premiums, ground rents and all other amounts due and unpaid
with respect to the Mayfair Mall Mortgage Loan Combination (which taxes,
assessments, premiums, ground rents and other amounts have not been subject to
an Advance by the Master Servicer or the Trustee and/or for which funds have
not been escrowed); provided that, if a required Appraisal has not been
obtained within the period required under Section 3.19(c) with respect to the
Mayfair Mall Trust Mortgage Loan, then until

                                     -9-
<PAGE>

such Appraisal is obtained or such internal valuation is completed, as
the case may be, in accordance with Section 3.19(c), the subject Appraisal
Reduction Amount shall be equal to 25% of the Stated Principal Balance of the
Mayfair Mall Trust Mortgage Loan as of the date of the related Appraisal
Reduction Event; and provided, further, that if the Mayfair Mall Mortgaged
Property has become an REO Property, then the above references to "Mayfair
Mall Trust Mortgage Loan" in this definition shall mean the related REO Trust
Mortgage Loan, and the above references to "Mayfair Mall Mortgage Loan
Combination" shall mean all of the related REO Mortgage Loans.

          Notwithstanding anything herein to the contrary, the aggregate
Appraisal Reduction Amount related to a Trust Mortgage Loan or the related REO
Property will be reduced to zero as of the date such Trust Mortgage Loan is
paid in full, liquidated, repurchased or otherwise removed from the Trust
Fund. For the avoidance of doubt, it is hereby agreed and understood that no
amount due under any B-Note Non-Trust Companion Loan shall affect the
calculation of the Appraisal Reduction Amount with respect to any A/B Mortgage
Loan Combination.

          "Appraisal Reduction Event": With respect to the Mayfair Mall
Non-Trust Companion Loan or any Trust Mortgage Loan, the earliest of (i) 120
days after an uncured delinquency (without regard to the application of any
grace period) occurs in respect of such Mortgage Loan, (ii) the date on which
a reduction in the amount of Monthly Payments on such Mortgage Loan, or a
change in any other material economic term of such Mortgage Loan (other than
an extension of the Maturity Date for a period of six months or less), becomes
effective as a result of a modification of such Mortgage Loan by the Special
Servicer, (iii) 60 days after a receiver has been appointed for the Borrower
of the related Mortgaged Property, (iv) 30 days after a Borrower declares
bankruptcy, (v) 60 days after the Borrower has become the subject of a decree
or order for a bankruptcy proceeding that shall have remained in force
undischarged and unstayed, and (vi) immediately after the related Mortgaged
Property becomes an REO Property; provided, however, that an Appraisal
Reduction Event shall not be deemed to occur at any time on and after the
dates when the aggregate Certificate Principal Balances of all Classes of
Principal Balance Certificates (other than the Class A-P&I Certificates) have
been reduced to zero; and provided, further, that an Appraisal Reduction Event
shall not be deemed to occur with respect to any Trust Mortgage Loan or REO
Trust Mortgage Loan (other than the Mayfair Mall Trust Mortgage Loan or any
successor REO Trust Mortgage Loan with respect thereto) at any time on and
after the dates when the aggregate Certificate Principal Balances of all
Classes of Principal Balance Certificates (other than the Class A-P&I and
Class MM Certificates) have been reduced to zero. The Special Servicer shall
notify the Master Servicer promptly upon the occurrence of any of the
foregoing events.

          "Appraised Value": With respect to any Mortgaged Property, the
appraised value thereof as determined by an Appraisal.

          "Appraiser": An Independent MAI, state certified organization with
five years of experience in properties of like kind and in the same geographic
area.

          "ARD Mortgage Loan": Any Mortgage Loan that provides for the accrual
of Excess Interest thereon if such Mortgage Loan is not paid in full on or
prior to its Anticipated Repayment Date.

          "ARD Trust Mortgage Loan": A Trust Mortgage Loan that is an ARD
Mortgage Loan.

          "Assignment of Leases": With respect to any Mortgaged Property, any
assignment of leases, rents and profits or similar instrument, executed by the
related Borrower, assigning to the related

                                     -10-
<PAGE>

mortgagee all of the income, rents and profits derived from the
ownership, operation, leasing or disposition of all or a portion of such
Mortgaged Property, in the form which was duly executed, acknowledged and
delivered, as amended, modified, renewed or extended through the date hereof
and from time to time hereafter.

          "Assumed Scheduled Payment": For any Collection Period and with
respect to any Mortgage Loan that is delinquent in respect of its Balloon
Payment (and any successor REO Mortgage Loan with respect thereto as to which
the Balloon Payment would have been past due), an amount equal to the sum of:
(a) the principal portion of the Monthly Payment that would have been due on
such Mortgage Loan on the related Due Date based on the constant payment
required by the related Note or the original amortization schedule thereof (as
calculated with interest at the related Mortgage Rate), if applicable,
assuming such Balloon Payment had not become due (and, if applicable, assuming
the related Mortgaged Property had not become an REO Property), after giving
effect to any modification of such Mortgage Loan; and (b) one month's interest
on the Stated Principal Balance of such Mortgage Loan (or REO Mortgage Loan)
immediately prior to the related Distribution Date (or, in the case of a
Non-Trust Companion Loan or any successor REO Non-Trust Companion Loan with
respect thereto, the outstanding principal balance thereof during the
corresponding Mortgage Interest Accrual Period) at the applicable Mortgage
Rate. For any Collection Period and any REO Mortgage Loan that is not
delinquent in respect of its Balloon Payment, an amount equal to the sum of:
(a) the principal portion of the Monthly Payment that would have been due on
the related Mortgage Loan on the related Due Date based on the original
amortization schedule thereof (as calculated with interest at the related
Mortgage Rate, less any applicable Excess Rate), if applicable, assuming the
related Mortgaged Property had not become an REO Property, after giving effect
to any modification of the related Mortgage Loan; and (b) one month's interest
on the Stated Principal Balance of such REO Mortgage Loan immediately prior to
the related Distribution Date (or, in the case of an REO Non-Trust Companion
Loan, the outstanding principal balance thereof during the corresponding
Mortgage Interest Accrual Period) at the applicable Mortgage Rate (less any
applicable Excess Rate).

          "ASTM": The American Society for Testing and Materials.

          "Available Distribution Amount": With respect to any Distribution
Date, an amount equal to the sum (without duplication) of:

          (a) the aggregate amount received on or with respect to the Mortgage
     Pool and on deposit in the Collection Account as of the close of business
     on the related Determination Date, exclusive of the following amounts
     (without duplication):

               (i)   all Monthly Payments collected but due on a Due Date after
          the end of the related Collection Period;

               (ii)  all amounts in the Collection Account that are payable or
          reimbursable to any Person from such account pursuant to clauses
          (ii) through (xix), inclusive, of Section 3.05(a);

              (iii)  all amounts that are payable or reimbursable to any
          Person pursuant to clauses (iii) through (vii), inclusive, of
          Section 3.05(b);

               (iv)  all Yield Maintenance Charges;

                                     -11-
<PAGE>

               (v)   all amounts deposited in the Collection Account in error;

               (vi)  any net interest or net investment income on funds on
          deposit in the Collection Account or in Permitted Investments in
          which such funds may be invested;

               (vii) if such Distribution Date occurs in February of 2004 or
          any year thereafter or in January of 2005 or any year thereafter
          that is not a leap year, the Withheld Amounts in respect of the
          Interest Reserve Loans that are to be deposited in the Interest
          Reserve Account on such Distribution Date and held for future
          distribution pursuant to Section 3.28;

              (viii) Excess Interest; and

               (ix)  Excess Liquidation Proceeds;

          (b) if and to the extent not already included in clause (a) hereof,
     the aggregate amount transferred with respect to the REO Trust Mortgage
     Loans from the REO Account to the Collection Account for such
     Distribution Date pursuant to Section 3.16(c);

          (c) if and to the extent not already included in clause (a) hereof,
     the aggregate amount transferred with respect to the Mayfair Mall Trust
     Mortgage Loan (or any successor REO Trust Mortgage Loan with respect
     thereto) from the Mayfair Mall Custodial Account to the Collection
     Account, or with respect to any A-Note Trust Mortgage Loan (or any
     successor REO Trust Mortgage Loan with respect thereto) from the related
     A/B Mortgage Loan Combination Custodial Account to the Collection
     Account, in any event for such Distribution Date pursuant to Section
     3.04;

          (d) the aggregate amount of any P&I Advances made in respect of the
     Trust Mortgage Loans by the Master Servicer or the Trustee, as
     applicable, for such Distribution Date pursuant to Section 4.03 or 7.05
     (which P&I Advances shall not include any related Master Servicing Fees
     or Workout Fees);

          (e) all funds released from the Interest Reserve Account for
     distribution on such Distribution Date;

          (f) any payments required to be made by the Master Servicer and/or
     the Special Servicer pursuant to Section 3.02(c) in respect of such
     Distribution Date; and

          (g) if and to the extent not already included in clause (a) hereof,
     the aggregate amount transferred (pursuant to Section 3.04(d)) from the
     Excess Liquidation Proceeds Account to the Distribution Account in
     respect of such Distribution Date.

          "B-Note Non-Trust Companion Loan": With respect to each A-Note Trust
Mortgage Loan, the other mortgage loan that (i) is not included in the Trust
Fund, (ii) is subordinate in right of payment to such A-Note Trust Mortgage
Loan to the extent set forth in the related A/B Intercreditor Agreement and
(iii) is secured by the same Mortgage on the same Mortgaged Property as such
A-Note Trust Mortgage Loan.

                                     -12-
<PAGE>

          "B-Note Non-Trust Companion Loan Holder": With respect to any B-Note
Non-Trust Companion Loan, CBA-Mezzanine Capital Finance, LLC, or its
successors and assigns, as the holder of such B-Note Non-Trust Companion Loan.

          "Balloon Mortgage Loan": Any Mortgage Loan that by its terms
provides for an amortization schedule extending materially beyond its Maturity
Date or for no amortization until its Maturity Date.

          "Balloon Trust Mortgage Loan": A Trust Mortgage Loan that is a
Balloon Mortgage Loan.

          "Balloon Payment": With respect to any Balloon Mortgage Loan and any
date of determination, the scheduled payment of principal due on the Maturity
Date of such Mortgage Loan (less principal included in the applicable
amortization schedule or scheduled Monthly Payment).

          "Bankruptcy Code": The federal Bankruptcy Code, as amended from time
to time (Title 11 of the United States Code).

          "Base Prospectus": That certain prospectus dated September 2, 2003,
relating to trust funds established by the Depositor and publicly offered
mortgage pass-through certificates evidencing interests therein.

          "Book-Entry Certificate": Any Certificate registered in the name of
the Depository or its nominee.

          "Book-Entry Non-Registered Certificate": Any Non-Registered
Certificate that constitutes a Book-Entry Certificate.

          "Borrower": With respect to any Mortgage Loan, the obligor or
obligors on any related Note or Notes, including, without limitation, any
Person that has acquired the related Mortgaged Property and assumed the
obligations of the original obligor under the Note or Notes.

          "Breach": With respect to any Trust Mortgage Loan, as defined in the
related Mortgage Loan Purchase Agreement.

          "Business Day": Any day other than a Saturday, a Sunday or a day on
which banking institutions in the states where the Collection Account,
Distribution Account, Trustee, Master Servicer or Special Servicer are located
and are authorized or obligated by law or executive order to remain closed.

          "Carryforward Interest Distribution Amount": As defined:

          (a) with respect to any REMIC I Regular Interest for any
     Distribution Date, in Section 2.04(g);

          (b) with respect to any REMIC II Regular Interest for any
     Distribution Date, in Section 2.06(g);

                                     -13-
<PAGE>

          (c) with respect to any Group A-SP REMIC III Regular Interest or
     Group A-X REMIC III Regular Interest for any Distribution Date, in
     Section 2.08(g); and

          (d) with respect to any Class of REMIC III Regular Interest
     Certificates for any Distribution Date, in Section 2.08(g).

          "Cash Collateral Account": With respect to any Mortgage Loan that
has a Lock-Box Account, any account or accounts created pursuant to the
related Mortgage, Loan Agreement, Cash Collateral Account Agreement or other
loan document, into which account or accounts the Lock-Box Account monies are
swept on a regular basis for the benefit of the Trustee as successor to the
applicable Mortgage Loan Seller's interest in such Mortgage Loan. Any Cash
Collateral Account shall be beneficially owned for federal income tax purposes
by the Person who is entitled to receive all reinvestment income or gain
thereon in accordance with the terms and provisions of the related Mortgage
Loan and Section 3.06, which Person shall be taxed on all reinvestment income
or gain thereon. The Master Servicer shall be permitted to make withdrawals
therefrom solely for deposit into the Collection Account or a Servicing
Account, or to remit to Borrower as required by the related loan documents, as
applicable. To the extent not inconsistent with the terms of the related
Mortgage Loan Documents, each such Cash Collateral Account shall be an
Eligible Account.

          "Cash Collateral Account Agreement": With respect to any Mortgage
Loan, the cash collateral account agreement, if any, between the related
Mortgage Loan Originator and the related Borrower, pursuant to which the
related Cash Collateral Account, if any, may have been established.

          "CERCLA": The Comprehensive Environmental Response, Compensation and
Liability Act of 1980, as amended.

          "Certificate": Any one of the Depositor's Commercial Mortgage
Pass-Through Certificates, Series 2003-C4, as executed by the Trustee or
Certificate Registrar and authenticated and delivered hereunder by the
Authenticating Agent.

          "Certificate Factor": With respect to any Class of REMIC III Regular
Interest Certificates, as of any date of determination, a fraction, expressed
as a decimal carried to eight places, the numerator of which is the related
Class Principal Balance or Class Notional Amount, as the case may be, then
outstanding, and the denominator of which is the related Class Principal
Balance or Class Notional Amount, as the case may be, outstanding as of the
Closing Date.

          "Certificateholder" or "Holder": The Person in whose name a
Certificate is registered in the Certificate Register; provided, however,
that: (i) neither a Disqualified Organization nor a Non-United States Tax
Person shall be a "Holder" of, or a "Certificateholder" with respect to, a
Class R Certificate for any purpose hereof; and (ii) solely for purposes of
giving any consent, approval, direction or waiver pursuant to this Agreement
that specifically relates to the rights, duties and/or obligations hereunder
of the Depositor, the Master Servicer, the Special Servicer or the Trustee in
its respective capacity as such (other than any consent, approval or waiver
contemplated by any of Sections 3.21, 3.31 and 7.01(c)), any Certificate
registered in the name of such party or in the name of any Affiliate thereof
shall be deemed not to be outstanding, and the Voting Rights to which it is
entitled shall not be taken into account in determining whether the requisite
percentage of Voting Rights necessary to effect any such consent, approval or
waiver that specifically relates to such party has been obtained. The
Certificate Registrar shall be entitled to request and conclusively rely upon
a certificate of the Depositor,

                                     -14-
<PAGE>

the Master Servicer or the Special Servicer in determining whether a
Certificate is registered in the name of an Affiliate of such Person. All
references herein to "Certificateholders" or "Holders" shall reflect the
rights of Certificate Owners only insofar as they may indirectly exercise such
rights through the Depository and the Depository Participants (except as
otherwise specified herein), it being herein acknowledged and agreed that the
parties hereto shall be required to recognize as a "Certificateholder" or
"Holder" only the Person in whose name a Certificate is registered in the
Certificate Register.

          "Certificateholder Reports": Collectively, the Trustee Report and
the CMSA Investor Reporting Package.

          "Certificate Notional Amount": With respect to any Interest Only
Certificate, as of any date of determination, the then notional amount on
which such Certificate accrues interest, equal to the product of (a) the then
Certificate Factor for the Class of Interest Only Certificates to which such
Certificate belongs, multiplied by (b) the amount specified on the face of
such Certificate as the initial Certificate Notional Amount thereof.

          "Certificate Owner": With respect to any Book-Entry Certificate, the
Person who is the beneficial owner of such Certificate as reflected on the
books of the Depository or on the books of a Depository Participant or on the
books of an indirect participating brokerage firm for which a Depository
Participant acts as agent.

          "Certificate Principal Balance": With respect to any Principal
Balance Certificate, as of any date of determination, the then outstanding
principal amount of such Certificate equal to the product of (a) the then
Certificate Factor for the Class of Principal Balance Certificates to which
such Certificate belongs, multiplied by (b) the amount specified on the face
of such Certificate as the initial Certificate Principal Balance thereof.

          "Certificate Register": The register maintained pursuant to Section
5.02.

          "Certificate Registrar": Wells Fargo, in its capacity as certificate
registrar, or any successor certificate registrar appointed as herein
provided.

          "Certification Parties": As defined in Section 3.26(b)

          "Certifying Person": As defined in Section 3.26(b)

          "Class": Collectively, all of the Certificates bearing the same
alphabetic or alphanumeric class designation and having the same payment
terms. The respective Classes of Certificates are designated in Section
5.01(a).

          "Class A-1": When combined with any other capitalized term defined
in this Agreement, of or relating to the Class A-1 Certificates.

          "Class A-1 Certificate": Any of the Certificates that collectively
constitute the Class bearing the alphanumeric class designation "A-1".

          "Class A-1-A": When combined with any other capitalized term defined
in this Agreement, of or relating to the Class A-1-A Certificates.

                                     -15-
<PAGE>

          "Class A-1-A Certificate": Any of the Certificates that collectively
constitute the Class bearing the alphanumeric class designation "A-1-A".

          "Class A-2": When combined with any other capitalized term defined
in this Agreement, of or relating to the Class A-2 Certificates.

          "Class A-2 Certificate": Any of the Certificates that collectively
constitute the Class bearing the alphanumeric class designation "A-2".

          "Class A-3": When combined with any other capitalized term defined
in this Agreement, of or relating to the Class A-3 Certificates.

          "Class A-3 Certificate": Any of the Certificates that collectively
constitute the Class bearing the alphanumeric class designation "A-3".

          "Class A-4": When combined with any other capitalized term defined
in this Agreement, of or relating to the Class A-4 Certificates.

          "Class A-4 Certificate": Any of the Certificates that collectively
constitute the Class bearing the alphanumeric class designation "A-4".

          "Class A-P&I Certificates": Collectively, the Class A-1, Class A-2,
Class A-3, Class A-4 and Class A-1-A Certificates.

          "Class A-SP": When combined with any other capitalized term defined
in this Agreement, of or relating to the Class A-SP Certificates.

          "Class A-SP Certificate": Any of the Certificates that collectively
constitute the Class bearing the alphabetic class designation "A-SP".

          "Class A-X": When combined with any other capitalized term defined
in this Agreement, of or relating to the Class A-X Certificates.

          "Class A-X Certificate": Any of the Certificates that collectively
constitute the Class bearing the alphabetic class designation "A-X".

          "Class B": When combined with any other capitalized term defined in
this Agreement, of or relating to the Class B Certificates.

          "Class B Certificate": Any of the Certificates that collectively
constitute the Class bearing the alphabetic class designation "B".

          "Class C": When combined with any other capitalized term defined in
this Agreement, of or relating to the Class C Certificates.

          "Class C Certificate": Any of the Certificates that collectively
constitute the Class bearing the alphabetic class designation "C".

                                     -16-
<PAGE>

          "Class D": When combined with any other capitalized term defined in
this Agreement, of or relating to the Class D Certificates.

          "Class D Certificate": Any of the Certificates that collectively
constitute the Class bearing the alphabetic class designation "D".

          "Class E": When combined with any other capitalized term defined in
this Agreement, of or relating to the Class E Certificates.

          "Class E Certificate": Any of the Certificates that collectively
constitute the Class bearing the alphabetic class designation "E".

          "Class F": When combined with any other capitalized term defined in
this Agreement, of or relating to the Class F Certificates.

          "Class F Certificate": Any of the Certificates that collectively
constitute the Class bearing the alphabetic class designation "F".

          "Class G": When combined with any other capitalized term defined in
this Agreement, of or relating to the Class G Certificates.

          "Class G Certificate": Any of the Certificates that collectively
constitute the Class bearing the alphabetic class designation "G".

          "Class H": When combined with any other capitalized term defined in
this Agreement, of or relating to the Class H Certificates.

          "Class H Certificate": Any of the Certificates that collectively
constitute the Class bearing the alphabetic class designation "H".

          "Class J": When combined with any other capitalized term defined in
this Agreement, of or relating to the Class J Certificates.

          "Class J Certificate": Any of the Certificates that collectively
constitute the Class bearing the alphabetic class designation "J".

          "Class K": When combined with any other capitalized term defined in
this Agreement, of or relating to the Class K Certificates.

          "Class K Certificate": Any of the Certificates that collectively
constitute the Class bearing the alphabetic class designation "K".

          "Class L": When combined with any other capitalized term defined in
this Agreement, of or relating to the Class L Certificates.

          "Class L Certificate": Any of the Certificates that collectively
constitute the Class bearing the alphabetic class designation "L".

                                     -17-
<PAGE>

          "Class M": When combined with any other capitalized term defined in
this Agreement, of or relating to the Class M Certificates.

          "Class M Certificate": Any of the Certificates that collectively
constitute the Class bearing the alphabetic class designation "M".

          "Class MM": When combined with any other capitalized term defined in
this Agreement, of or relating to the Class MM Certificates.

          "Class MM Available Distribution Amount": With respect to any
Distribution Date, that portion of the Available Distribution Amount for such
Distribution Date that is equal to the lesser of (i) the amount deemed
distributed to REMIC II with respect to REMIC I Regular Interest MM-2 on such
Distribution Date pursuant to clauses fourth, fifth and sixth of the first
paragraph of Section 4.01(l) and (ii) the total of the Interest Distribution
Amount, the Class MM Principal Distribution Amount and the Loss Reimbursement
Amount with respect to the Class MM Certificates for such Distribution Date.

          "Class MM Certificate": Any of the Certificates that collectively
constitute the Class bearing the alphabetic class designation "MM".

          "Class MM Directing Certificateholder": The particular Holder (or,
in the case of a Class of Book-Entry Certificates, the particular Certificate
Owner) of Class MM Certificates selected by the Holders (or, in the case of a
Class of Book-Entry Certificates, the Certificate Owners) of Class MM
Certificates representing more than 50% of the Percentage Interests in the
Class MM Certificates; provided, however, that until a Class MM Directing
Certificateholder is so selected or after receipt of a notice from the Holders
(or, in the case of a Class of Book-Entry Certificates, the Certificate
Owners) of Class MM Certificates representing more than 50% of the Percentage
Interests in the Class MM Certificates, that a Class MM Directing
Certificateholder is no longer designated, the particular Certificateholder
(or, in the case of a Class of Book-Entry Certificates, the particular
Certificate Owner) that beneficially owns Class MM Certificates representing
the largest aggregate Percentage Interest in the Class MM Certificates will be
the Class MM Directing Certificateholder.

          "Class MM Principal Distribution Amount" With respect to any
Distribution Date, the total amount of principal deemed distributed (or,
assuming that the available funds were sufficient, that would have been deemed
distributed) to REMIC II with respect to REMIC I Regular Interest MM-2 on such
Distribution Date pursuant to clause fifth of the first paragraph of Section
4.01(l).

          "Class N": When combined with any other capitalized term defined in
this Agreement, of or relating to the Class N Certificates.

          "Class N Certificate": Any of the Certificates that collectively
constitute the Class bearing the alphabetic class designation "N".

          "Class Notional Amount": The aggregate hypothetical or notional
amount on which any Class of Interest Only Certificates accrues or is deemed
to accrue interest from time to time, as calculated in accordance with Section
2.08(e); provided that, for reporting purposes, the Class Notional Amount of
the Class A-SP Certificates shall be calculated in accordance with the
Prospectus Supplement.

                                     -18-
<PAGE>

          "Class O": When combined with any other capitalized term defined in
this Agreement, of or relating to the Class O Certificates.

          "Class O Certificate": Any of the Certificates that collectively
constitute the Class bearing the alphabetic class designation "O".

          "Class P": When combined with any other capitalized term defined in
this Agreement, of or relating to the Class P Certificates.

          "Class P Certificate": Any of the Certificates that collectively
constitute the Class bearing the alphabetic class designation "P".

          "Class Principal Distribution Amount": With respect to the Class MM
Certificates for any Distribution Date, the Class MM Principal Distribution
Amount for such Distribution Date; and, with respect to any other Class of
Subordinate Principal Balance Certificates for any Distribution Date, the
lesser of (a) the Class Principal Balance outstanding immediately prior to
such Distribution Date of such Class of Certificates and (b) the excess, if
any, of (i) the Net Total Principal Distribution Amount for such Distribution
Date, over (ii) the aggregate Certificate Principal Balance outstanding
immediately prior to such Distribution Date of the Class A-P&I Certificates
and each other Class of Subordinate Principal Balance Certificates (exclusive
of the Class MM Certificates), if any, with an earlier alphabetical Class
designation than (i.e., that is in accordance with Section 4.01(b) senior in
right of payment to) the subject Class of Subordinate Principal Balance
Certificates.

          "Class Principal Balance": The aggregate principal balance
outstanding from time to time of any Class of Principal Balance Certificates,
as calculated in accordance with Section 2.08(e).

          "Class R": When combined with any other capitalized term defined in
this Agreement, of or relating to the Class R Certificates.

          "Class R Certificate": Any of the Certificates that collectively
constitute the Class bearing the alphabetic class designation "R".

          "Class V": When combined with any other capitalized term defined in
this Agreement, of or relating to the Class V Certificates.

          "Class V Certificate": Any of the Certificates that collectively
constitute the Class bearing the alphabetic class designation "V".

          "Clearstream": Clearstream Banking, societe anonyme or any
successor.

          "Closing Date": September 29, 2003.

          "CMSA": The Commercial Mortgage Securities Association, or any
association or organization that is a successor thereto. If neither such
association nor any successor remains in existence, "CMSA" shall be deemed to
refer to such other association or organization as may exist whose principal
membership consists of servicers, trustees, issuers, placement agents and
underwriters generally involved in the commercial mortgage loan securitization
industry, which is the principal such association or organization in the
commercial mortgage loan securitization industry and one of whose

                                     -19-
<PAGE>

principal purposes is the establishment of industry standards for
reporting transaction-specific information relating to commercial mortgage
pass-through certificates and commercial mortgage-backed bonds and the
commercial mortgage loans and foreclosed properties underlying or backing them
to investors holding or owning such certificates or bonds, and any successor
to such other association or organization. If an organization or association
described in one of the preceding sentences of this definition does not exist,
"CMSA" shall be deemed to refer to such other association or organization as
shall be selected by the Master Servicer and reasonably acceptable to the
Trustee, the Special Servicer and the Series 2003-C4 Directing
Certificateholder.

          "CMSA Bond Level File": A report substantially in the form of, and
containing the information called for in, the downloadable form of the "Bond
Level File" available as of the Closing Date on the CMSA Website, or such
other form for the presentation of such information and containing such
additional information as may from time to time be recommended by the CMSA for
commercial mortgage-backed securities transactions generally.

          "CMSA Collateral Summary File": A report substantially in the form
of, and containing the information called for in, the downloadable form of the
"Collateral Summary File" available as of the Closing Date on the CMSA
Website, or such other form for the presentation of such information and
containing such additional information as may from time to time be recommended
by the CMSA for commercial mortgage-backed securities transactions generally.

          "CMSA Comparative Financial Status Report": A report substantially
in the form of, and containing the information called for in, the downloadable
form of the "Comparative Financial Status Report" available as of the Closing
Date on the CMSA Website, or such other form for the presentation of such
information as may from time to time be recommended by the CMSA for commercial
mortgage-backed securities transactions generally. For the purposes of the
production by Master Servicer or the Special Servicer of any such report that
is required to state information for any period prior to the Cut-off Date, the
Master Servicer or the Special Servicer, as the case may be, may conclusively
rely (without independent verification), absent manifest error, on information
provided to it by the related Mortgage Loan Seller, by the related Borrower or
(x) in the case of such a report produced by the Master Servicer, by the
Special Servicer (if other than the Master Servicer or an Affiliate thereof)
and (y) in the case of such a report produced by the Special Servicer, by the
Master Servicer (if other than the Special Servicer or an Affiliate thereof).

          "CMSA Delinquent Loan Status Report": A report substantially in the
form of, and containing the information called for in, the downloadable form
of the "Delinquent Loan Status Report" available as of the Closing Date on the
CMSA Website, or such other form for the presentation of such information and
containing such additional information as may from time to time be recommended
by the CMSA for commercial mortgage-backed securities transactions generally.

          "CMSA Financial File": A report substantially in the form of, and
containing the information called for in, the downloadable form of the
"Financial File" available as of the Closing Date on the CMSA Website, or such
other form for the presentation of such information and containing such
additional information as may from time to time be recommended by the CMSA for
commercial mortgage-backed securities transactions generally.

          "CMSA Historical Liquidation Report": A report substantially in the
form of, and containing the information called for in, the downloadable form
of the "Historical Liquidation Report"

                                     -20-
<PAGE>

available as of the Closing Date on the CMSA Website, or such other form
for the presentation of such information and containing such additional
information as may from time to time be recommended by the CMSA for commercial
mortgage-backed securities transactions generally.

          "CMSA Historical Loan Modification and Corrected Mortgage Loan
Report": A report substantially in the form of, and containing the information
called for in, the downloadable form of the "Historical Loan Modification and
Corrected Mortgage Loan Report" available as of the Closing Date on the CMSA
Website, or such other form for the presentation of such information and
containing such additional information as may from time to time be recommended
by the CMSA for commercial mortgage-backed securities transactions generally.

          "CMSA Investor Reporting Package": Collectively:

          (a) the following six electronic files: (i) CMSA Loan Setup File,
     (ii) CMSA Loan Periodic Update File, (iii) CMSA Property File, (iv) CMSA
     Bond Level File, (v) CMSA Financial File and (vi) CMSA Collateral Summary
     File; and

          (b) the following eight supplemental reports: (i) CMSA Delinquent
     Loan Status Report, (ii) CMSA Historical Loan Modification and Corrected
     Mortgage Loan Report, (iii) CMSA Historical Liquidation Report, (iv) CMSA
     REO Status Report, (v) CMSA Operating Statement Analysis Report, (vi)
     CMSA Comparative Financial Status Report, (vii) CMSA Servicer Watch List
     and (viii) CMSA NOI Adjustment Worksheet.

          "CMSA Loan Periodic Update File": A monthly report substantially in
the form of, and containing the information called for in, the downloadable
form of the "Loan Periodic Update File" available as of the Closing Date on
the CMSA Website, or such other form for the presentation of such information
and containing such additional information as may from time to time be
recommended by the CMSA for commercial mortgage-backed securities transactions
generally.

          "CMSA Loan Setup File": A report substantially in the form of, and
containing the information called for in, the downloadable form of the
"Mortgage Loan Setup File" available as of the Closing Date on the CMSA
Website, or such other form for the presentation of such information and
containing such additional information as may from time to time be recommended
by the CMSA for commercial mortgage-backed securities transactions generally.

          "CMSA NOI Adjustment Worksheet": A report substantially in the form
of, and containing the information called for in, the downloadable form of the
"NOI Adjustment Worksheet" available as of the Closing Date on the CMSA
Website, or such other form for the presentation of such information and
containing such additional information as may from time to time be recommended
by the CMSA for commercial mortgage-backed securities transactions generally.

          "CMSA Operating Statement Analysis Report": A report substantially
in the form of, and containing the information called for in, the downloadable
form of the "Operating Statement Analysis Report" available as of the Closing
Date on the CMSA Website or such other form for the presentation of such
information and containing such additional information as may from time to
time be recommended by the CMSA for commercial mortgage-backed securities
transactions generally.

                                     -21-
<PAGE>

          "CMSA Property File": A report substantially in the form of, and
containing the information called for in, the downloadable form of the
"Property File" available as of the Closing Date on the CMSA Website, or such
other form for the presentation of such information and containing such
additional information as may from time to time be recommended by the CMSA for
commercial mortgage-backed securities transactions generally.

          "CMSA REO Status Report": A report substantially in the form of, and
containing the information called for in, the downloadable form of the "REO
Status Report" available as of the Closing Date on the CMSA Website, or such
other form for the presentation of such information and containing such
additional information as may from time to time be recommended by the CMSA for
commercial mortgage-backed securities transactions generally.

          "CMSA Servicer Watch List": A report substantially in the form of,
and containing the information called for in, the downloadable form of
"Servicer Watch List" available as of the Closing Date on the CMSA Website, or
such other form for the presentation of such information and containing such
additional information as may from time to time be recommended by the CMSA for
commercial mortgage-backed securities transactions generally.

          "CMSA Website": The CMSA's Website located at "www.cmbs.org" or such
other primary website as the CMSA may establish for dissemination of its
report forms.

          "Code": The Internal Revenue Code of 1986 and regulations
promulgated thereunder, including proposed regulations to the extent that, by
reason of their proposed effective date, could, as of the date of any
determination or opinion as to the tax consequences of any action or proposed
action or transaction, could be applied to the Trust or the Certificates.

          "Collection Account": One or more separate custodial accounts or,
subject to Section 3.04(h), sub-accounts created and maintained by the Master
Servicer pursuant to Section 3.04(a) in the name of the Trustee on behalf of
the Certificateholders, into which the amounts set forth in Section 3.04(a)
shall be deposited directly, which, subject to Section 3.04(h), shall be
entitled "[name of Master Servicer], in trust for [name of Trustee], as
Trustee for the benefit of Holders of Credit Suisse First Boston Mortgage
Securities Corp., Commercial Mortgage Pass-Through Certificates, Series
2003-C4, Collection Account". The Collection Account shall be an Eligible
Account (or, subject to Section 3.04(h), a sub-account of an Eligible Account)
and, except for the Excess Interest held therein, shall be part of REMIC I.

          "Collection Period": With respect to any Distribution Date, the
period commencing on the date immediately following the Determination Date in
the calendar month preceding the month in which such Distribution Date occurs
(or, in the case of the initial Distribution Date, commencing as of the
Closing Date) and ending on and including the Determination Date in the
calendar month in which such Distribution Date occurs.

          "Column": As defined in the Preliminary Statement to this Agreement.

          "Column Mortgage Loan Purchase Agreement": As defined in the
Preliminary Statement to this Agreement.

                                     -22-
<PAGE>

          "Column Performance Guarantee": The Guarantee dated as of September
11, 2003, from the Column Performance Guarantor in favor of the Trustee,
relating to the obligations of Column under Section 7 of the Column Mortgage
Loan Purchase Agreement.

          "Column Performance Guarantor": Credit Suisse First Boston acting
through the Cayman Branch, its successor in interest or any successor
guarantor under the Column Performance Guarantee.

          "Column Trust Mortgage Loan": Any Trust Mortgage Loan that is either
an Original Column Trust Mortgage Loan or a Replacement Trust Mortgage Loan
that was delivered under the Column Mortgage Loan Purchase Agreement or the
Column Performance Guarantee in substitution for an Original Column Trust
Mortgage Loan.

          "Commission": The Securities and Exchange Commission.

          "Component": Any of the components of the Class A-X or Class A-SP
Certificates, which components are: (a) in the case of the Class A-X
Certificates, the respective Group A-X REMIC III Regular Interests; and (b) in
the case of the Class A-SP Certificates, the respective Group A-SP REMIC III
Regular Interests.

          "Component Notional Amount": The hypothetical or notional amount on
which any Group A-X REMIC III Regular Interest or Group A-SP REMIC III Regular
Interest accrues interest from time to time, as calculated in accordance with
Section 2.08(e).

          "Confidential Offering Circular": The final Confidential Offering
Circular dated September 11, 2003, relating to certain Classes of the
Non-Registered Certificates delivered by the Depositor to CSFB LLC as of the
Closing Date.

          "Controlling Class": As of any date of determination, the Class of
Principal Balance Certificates (exclusive of the Class MM Certificates) with
the lowest payment priority pursuant to Sections 4.01(a) and 4.01(b), that has
a then outstanding Class Principal Balance that is not less than 25% of its
initial Class Principal Balance; provided that, if no Class of Principal
Balance Certificates (exclusive of the Class MM Certificates) has a Class
Principal Balance that satisfies the foregoing requirement, then the
Controlling Class shall be the Class of Principal Balance Certificates
(exclusive of the Class MM Certificates) with the lowest payment priority
pursuant to Sections 4.01(a) and 4.01(b), that has a then outstanding Class
Principal Balance greater than zero. For purposes of this definition, the
respective Classes of the Class A-P&I Certificates shall be treated as a
single Class and, if appropriate under the terms of this definition, shall
collectively constitute the Controlling Class. As of the Closing Date, the
Controlling Class shall be the Class P Certificates.

          "Controlling Class Certificateholder": Each Holder (or Certificate
Owner, if applicable) of a Certificate of the Controlling Class as certified
by the Certificate Registrar to the Trustee from time to time.

          "Corporate Trust Office": The principal corporate trust office of
the Trustee at which at any particular time its corporate trust business with
respect to this Agreement shall be administered, which office at the date of
the execution of this Agreement is located (i) for Certificate transfer
purposes, at Sixth and Marquette, Minneapolis, Minnesota 55479-0113,
Attention: Credit Suisse First

                                     -23-
<PAGE>

Boston Mortgage Securities Corp., Commercial Mortgage Pass-Through
Certificates, Series 2003-C4 and (ii) for all other purposes, at 9062 Old
Annapolis Road, Columbia, Maryland 21045-1951, Attention: Credit Suisse First
Boston Mortgage Securities Corp., Commercial Mortgage Pass-Through
Certificates, Series 2003-C4.

          "Corrected Mortgage Loan": Any Corrected Trust Mortgage Loan or, to
the extent serviced hereunder, any Non-Trust Companion Loan as to which the
related Trust Mortgage Loan is a Corrected Mortgage Loan.

          "Corrected Trust Mortgage Loan": Any Trust Mortgage Loan that had
been a Specially Serviced Trust Mortgage Loan but as to which all Servicing
Transfer Events have ceased to exist.

          "Corresponding Class of Principal Balance Certificates": With
respect to any REMIC II Regular Interest, the Class of Principal Balance
Certificates that has an alphabetic or alphanumeric class designation that is
the same as the alphabetic or alphanumeric, as applicable, designation for
such REMIC II Regular Interest; provided that (i) the Class A-1 Certificates
shall be the Corresponding Class of Principal Balance Certificates with
respect to each of REMIC II Regular Interest A-1-1, REMIC II Regular Interest
A-1-2 and REMIC II Regular Interest A-1-3, (ii) the Class A-2 Certificates
shall be the Corresponding Class of Principal Balance Certificates with
respect to each of REMIC II Regular Interest A-2-1, REMIC II Regular Interest
A-2-2 and REMIC II Regular Interest A-2-3, (iii) the Class A-4 Certificates
shall be the Corresponding Class of Principal Balance Certificates with
respect to each of REMIC II Regular Interest A-4-1, REMIC II Regular Interest
A-4-2, REMIC II Regular Interest A-4-3, and REMIC II Regular Interest A-4-4,
and (iv) the Class A-1-A Certificates shall be the Corresponding Class of
Principal Balance Certificates with respect to each of REMIC II Regular
Interest A-1-A-1, REMIC II Regular Interest A-1-A-2, REMIC II Regular Interest
A-1-A-3, REMIC II Regular Interest A-1-A-4, REMIC II Regular Interest A-1-A-5,
REMIC II Regular Interest A-1-A-6, REMIC II Regular Interest A-1-A-7 and REMIC
II Regular Interest A-1-A-8.

          "Corresponding Group A-SP REMIC III Regular Interest": With respect
to any REMIC II Regular Interest, the Group A-SP REMIC III Regular Interest
that has an alphabetic or alphanumeric designation that, with the deletion of
"A-SP-", is the same as the alphabetic or alphanumeric, as applicable,
designation for such REMIC II Regular Interest.

          "Corresponding Group A-X REMIC III Regular Interest": With respect
to any REMIC II Regular Interest, the Group A-X REMIC III Regular Interest
that has an alphabetic or alphanumeric designation that, with the deletion of
"A-X-", is the same as the alphabetic or alphanumeric, as applicable,
designation for such REMIC II Regular Interest.

          "Corresponding REMIC II Regular Interest": With respect to: (a) any
Class of Principal Balance Certificates, the REMIC II Regular Interest that
has an alphabetic or alphanumeric designation that is the same as the
alphabetic or alphanumeric, as applicable, Class designation for such Class of
Principal Balance Certificates (provided that (i) each of REMIC II Regular
Interest A-1-1, REMIC II Regular Interest A-1-2 and REMIC II Regular Interest
A-1-3 shall be a Corresponding REMIC II Regular Interest with respect to the
Class A-1 Certificates, (ii) each of REMIC II Regular Interest A-2-1, REMIC II
Regular Interest A-2-2 and REMIC II Regular Interest A-2-3 shall be a
Corresponding REMIC II Regular Interest with respect to the Class A-2
Certificates, (iii) each of REMIC II Regular Interest A-4-1, REMIC II Regular
Interest A-4-2, REMIC II Regular Interest A-4-3 and REMIC II Regular Interest
A-4-4 shall be a Corresponding REMIC II Regular Interest with respect to the

                                     -24-
<PAGE>

Class A-4 Certificates, and (iv) each of REMIC II Regular Interest A-1-A-1,
REMIC II Regular Interest A-1-A-2, REMIC II Regular Interest A-1-A-3, REMIC II
Regular Interest A-1-A-4, REMIC II Regular Interest A-1-A-5, REMIC II Regular
Interest A-1-A-6, REMIC II Regular Interest A-1-A-7 and REMIC II Regular
Interest A-1-A-8 shall be a Corresponding REMIC II Regular Interest with
respect to the Class A-1-A Certificates); (b) any Group A-SP REMIC III Regular
Interest, the REMIC II Regular Interest that has an alphabetic or alphanumeric
designation that, when preceded by "A-SP-", is the same as the alphabetic or
alphanumeric, as applicable, designation for such Group A-SP REMIC III Regular
Interest; and (c) any Group A-X REMIC III Regular Interest, the REMIC II
Regular Interest that has an alphabetic or alphanumeric designation that, when
preceded by "A-X-", is the same as the alphabetic or alphanumeric, as
applicable, designation for such Group A-X REMIC III Regular Interest.

          "Credit File": Any documents, other than documents required to be
part of the related Mortgage File, in the possession of the Master Servicer
and relating to the origination and servicing of any Mortgage Loan.

          "Cross-Collateralized Group": Any group of Crossed Trust Mortgage
Loans.

          "Crossed Trust Mortgage Loan": Any Trust Mortgage Loan which is
cross-defaulted and cross-collateralized with any other Trust Mortgage Loan.
For the avoidance of doubt, neither the Mayfair Mall Trust Mortgage Loan nor
any A-Note Trust Mortgage Loan shall be deemed a Crossed Trust Mortgage Loan
under this Agreement.

          "Crossed Trust Mortgage Loan Repurchase Criteria": (i) The Debt
Service Coverage Ratio for all remaining related Crossed Trust Mortgage Loans
for the four calendar quarters immediately preceding the repurchase or
substitution is not less than the greater of (a) the Debt Service Coverage
Ratio for all such related Crossed Trust Mortgage Loans, including the
affected Crossed Trust Mortgage Loan, for the four calendar quarters
immediately preceding the repurchase or substitution and (b) 1.25x, (ii) the
loan-to-value ratio for any remaining related Crossed Trust Mortgage Loans
determined at the time of repurchase or substitution based upon an Appraisal
obtained by the Special Servicer at the expense of the related Mortgage Loan
Seller is not greater than the lesser of (a) the loan-to-value ratio for all
such related Crossed Trust Mortgage Loans, including the affected Crossed
Trust Mortgage Loan set forth in the tables on Exhibit A-1 to the Prospectus
Supplement, (b) the loan-to-value ratio for all such related Crossed Trust
Mortgage Loans, including the affected Crossed Trust Mortgage Loan, determined
at the time of repurchase or substitution based upon an Appraisal obtained by
the Special Servicer at the expense of the related Mortgage Loan Seller and
(c) 75.0%, and (iii) the Trustee receives an Opinion of Counsel (at the
expense of the related Mortgage Loan Seller) to the effect that such
repurchase or substitution will not result in the imposition of a tax on the
assets of the Trust Fund or cause any REMIC Pool to fail to qualify as a REMIC
for federal or applicable state tax purposes at any time that any of the
Certificates are outstanding.

          "CSFB LLC": Credit Suisse First Boston LLC or its successor in
interest.

          "Current Interest Distribution Amount": As defined:

          (a) with respect to any REMIC I Regular Interest for any
     Distribution Date, in Section 2.04(g);

                                     -25-
<PAGE>

          (b) with respect to any REMIC II Regular Interest for any
     Distribution Date, in Section 2.06(g);

          (c) with respect to any Group A-SP REMIC III Regular Interest or
     Group A-X REMIC III Regular Interest for any Distribution Date, in
     Section 2.08(g); and

          (d) with respect to any Class of REMIC III Regular Interest
     Certificates for any Distribution Date, in Section 2.08(g).

          "Custodian" shall mean a Person who is at any time appointed by the
Trustee pursuant to Section 8.12 as a document custodian for the Mortgage
Files.

          "Cut-off Date": Individually and collectively, the respective Due
Dates for the Trust Mortgage Loans in September 2003.

          "Cut-off Date Principal Balance": With respect to any Original Trust
Mortgage Loan, the outstanding principal balance of such Trust Mortgage Loan
as of the Cut-off Date, after application of all payments of principal due on
or before such date, whether or not received.

          "Debt Service Coverage Ratio": With respect to any Trust Mortgage
Loan for any twelve-month period covered by an annual operating statement for
the related Mortgaged Property, the ratio of (i) Net Operating Income produced
by the related Mortgaged Property during such period to (ii) the aggregate
amount of Monthly Payments (other than any Balloon Payment) due under such
Trust Mortgage Loan (or, in the case of the Mayfair Mall Trust Mortgage Loan,
under the Mayfair Mall Mortgage Loan Combination) during such period.

          "Default Interest": With respect to any Mortgage Loan (or any
successor REO Mortgage Loan with respect thereto), any amounts collected
thereon, other than late payment charges or Yield Maintenance Charges, that
represent interest in excess of interest accrued on the principal balance of
such Trust Mortgage Loan (or REO Mortgage Loan) at the related Mortgage Rate,
such excess interest arising out of a default under such Mortgage Loan.

          "Defaulted Trust Mortgage Loan": A Trust Mortgage Loan that is at
least sixty days delinquent in respect of its Monthly Payments, or delinquent
in respect of its Balloon Payment, if any, in each case without giving effect
to any grace period permitted by the related Mortgage or Note, or if any
non-monetary event of default occurs that results in the Trust Mortgage Loan
becoming a Specially Serviced Trust Mortgage Loan; provided, however, that no
Monthly Payment (other than a Balloon Payment) shall be deemed delinquent if
less than ten dollars of all amounts due and payable on such Trust Mortgage
Loan has not been received.

          "Defaulting Party": As defined in Section 7.01(b).

          "Defeasance Collateral": As defined in Section 3.08(f).

          "Defeasance Mortgage Loan": As defined in Section 3.08(f).

          "Defect": With respect to any Trust Mortgage Loan, as defined in the
related Mortgage Loan Purchase Agreement.

                                     -26-
<PAGE>

          "Defective Trust Mortgage Loan": Any Trust Mortgage Loan as to which
there exists a Material Breach or a Material Defect that has not been cured in
all material respects.

          "Definitive Certificate": A Certificate issued in registered,
definitive physical form.

          "Deleted Trust Mortgage Loan": A Defective Trust Mortgage Loan that
is purchased or repurchased, as the case may be, from the Trust or replaced
with one or more Replacement Trust Mortgage Loans, in either case as
contemplated by Section 2.03.

          "Depositor": As defined in the Preliminary Statement to this
Agreement.

          "Depository": The Depository Trust Company, or any successor
Depository hereafter named. The nominee of the initial Depository for purposes
of registering those Certificates that are to be Book-Entry Certificates, is
Cede & Co. The Depository shall at all times be a "clearing corporation" as
defined in Section 8-102(3) of the Uniform Commercial Code of the State of New
York and a "clearing agency" registered pursuant to the provisions of Section
17A of the Exchange Act.

          "Depository Participant": A broker, dealer, bank or other financial
institution or other Person for whom from time to time the Depository effects
book-entry transfers and pledges of securities deposited with the Depository.

          "Determination Date": With respect to any Distribution Date, the
close of business on the 11th day of the month in which such Distribution Date
occurs, or if such 11th day is not a Business Day, the Business Day
immediately following such 11th day.

          "Directly Operate": With respect to any REO Property, the furnishing
or rendering of services to the tenants thereof that are not (within the
meaning of Treasury regulations section 1.512(b)-1(c)(5)) customarily provided
to tenants in connection with the rental of space for occupancy, the
management or operation of such REO Property, the holding of such REO Property
primarily for sale to customers in the ordinary course of a trade or business,
the performance of any construction work thereon or any use of such REO
Property in a trade or business conducted by the Trust Fund, in each case
other than through an Independent Contractor; provided, however, that the
Trustee (or the Master Servicer 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 Master Servicer 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
(of the type that would be deductible under Section 162 of the Code) or
capital expenditures with respect to such REO Property.

          "Discount Rate": As defined in Section 4.01(d).

          "Disqualified Organization": Any of (i) the United States, any State
or political subdivision thereof, any possession of the United States or any
agency or instrumentality of any of the foregoing (other than an
instrumentality that 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 such governmental unit), (ii) a foreign government, any
international organization or any agency or instrumentality of any of the
foregoing, (iii) any organization (other than certain farmers' cooperatives
described in Section 521 of the Code) that is exempt from the tax imposed by
Chapter 1 of the Code (including the tax imposed by Section 511 of the Code on
unrelated business taxable income), (iv) rural electric and telephone

                                     -27-
<PAGE>

cooperatives described in Section 1381(a)(2)(C) of the Code and (v) any other
Person so designated by the Master Servicer or the Trustee based upon an
Opinion of Counsel provided to the Trustee (which shall not be an expense of
the Trustee) to the effect that the holding of an Ownership Interest in a
Class R Certificate by such Person may cause any REMIC Pool to qualify as a
REMIC 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 Class R 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.

          "Distribution Account": The account, accounts or, subject to Section
3.04(h), sub-accounts created and maintained by the Trustee, pursuant to
Section 3.04(b), in trust for the Certificateholders, which, subject to
Section 3.04(h), shall be entitled "[name of Trustee], as Trustee, for the
benefit of Holders of Credit Suisse First Boston Mortgage Securities Corp.,
Commercial Mortgage Pass-Through Certificates, Series 2003-C4, Distribution
Account". The Distribution Account shall be an Eligible Account or, subject to
Section 3.04(h), a subaccount of an Eligible Account.

          "Distribution Date": With respect to any calendar month, commencing
in October 2003, the fourth Business Day following the Determination Date in
such month.

          "Due Date": With respect to (i) any Mortgage Loan on or prior to its
Maturity Date, the day of the month set forth in the related Note on which
each Monthly Payment thereon is scheduled to be first due (without giving
effect to any grace period with respect to late Monthly Payments), (ii) any
Mortgage Loan after the Maturity Date therefor, the day of the month set forth
in the related Note on which each Monthly Payment on such Mortgage Loan had
been scheduled to be first due (without giving effect to any grace period) and
(iii) any REO Mortgage Loan, the day of the month set forth in the related
Note on which each Monthly Payment on the related Mortgage Loan had been
scheduled to be first due (without giving effect to any grace period).

          "EDGAR": The Electronic Data Gathering, Analysis, and Retrieval
System of the Commission, which is the computer system for the receipt,
acceptance, review and dissemination of documents submitted to the Commission
in electronic format.

          "Eligible Account": Either (i) an account or accounts maintained
with a federal or state chartered depository institution or trust company
(including the Trustee) the long-term unsecured debt obligations of which are
rated at least "AA" by S&P (or "A-" if the short-term debt obligations thereof
have a short-term rating of not less than "A-1") and "Aa3" by Moody's, if the
deposits are to be held in such account for more than 30 days or the
short-term debt obligations of which have a short-term rating of not less than
"A-1" by S&P and "P-1" by Moody's if the deposits are to be held in such
account for 30 days or less, or such other account or accounts with respect to
which each of the Rating Agencies shall have confirmed in writing that the
then-current rating assigned to any of the Certificates that are currently
being rated by such Rating Agency will not be qualified (as applicable),
downgraded or withdrawn by reason thereof or (ii) a segregated trust account
or accounts maintained with the corporate trust department of a federal- or
state-chartered depository institution or trust company that, in either case,
has a combined capital and surplus of at least $50,000,000 and has corporate
trust powers, acting in its fiduciary capacity; provided that any
state-chartered depository institution or trust company is subject to
regulation regarding fiduciary funds substantially similar to 12 C.F.R. ss.
9.10(b), or (iii) an

                                     -28-
<PAGE>

account or accounts maintained with KeyBank so long as KeyBank (1) shall
have a long-term unsecured debt rating of at least "A1" and a short-term
rating of at least "P-1" from Moody's and (2) has the appropriate rating from
S&P specified in clause (i) above, or (iv) such other account or accounts with
respect to which each of the Rating Agencies shall have confirmed in writing
that the then-current rating assigned to any of the Certificates that are
currently being rated by such Rating Agency will not be qualified (as
applicable), downgraded or withdrawn by reason thereof. Eligible Accounts may
bear interest. No Eligible Account shall be evidenced by a certificate of
deposit, passbook or other similar instrument.

          "Environmental Assessment": A "Phase I environmental assessment" as
described in and meeting the criteria of the American Society of Testing
Materials Standard E 1527-94 or any successor thereto published by the
American Society of Testing Materials.

          "Environmental Insurance Policy": With respect to any Mortgage Loan,
any insurance policy covering Insured Environmental Events that is maintained
from time to time in respect of such Mortgage Loan or the related Mortgaged
Property.

          "Environmental Insurer": The provider of insurance pursuant to any
Environmental Insurance Policy.

          "ERISA": The Employee Retirement Income Security Act of 1974, as
amended.

          "Escrow Payment": Any payment received by the Master Servicer for
the account of any Borrower for application toward the payment of real estate
taxes, assessments, Insurance Policy premiums and similar items in respect of
the related Mortgaged Property, including amounts for deposit to any reserve
account.

          "Euroclear": The Euroclear System.

          "Event of Default": One or more of the events described in Section
7.01(a).

          "Excess Interest": With respect to each of the ARD Mortgage Loans
(and each REO Trust Mortgage Loan that relates to an ARD Trust Mortgage Loan),
interest accrued on such Mortgage Loan (or REO Trust Mortgage Loan) and
allocable to the Excess Rate. Insofar as it accrues on an ARD Trust Mortgage
Loan (or any REO Trust Mortgage Loan with respect thereto), Excess Interest is
an asset of the Trust Fund, but shall not be an asset of any REMIC Pool.

          "Excess Interest Distribution Account": The account, accounts or,
subject to Section 3.04(h), subaccount created and maintained by the Trustee,
which, subject to Section 3.04(h), shall be entitled "[name of Trustee], as
Trustee, in trust for Holders of Credit Suisse First Boston Mortgage
Securities Corp., Commercial Mortgage Pass-Through Certificates, Series
2003-C4, Excess Interest Distribution Account", and which shall be an Eligible
Account or, subject to Section 3.04(h), a subaccount of an Eligible Account.
The Excess Interest Distribution Account shall not be an asset of any REMIC
Pool.

          "Excess Liquidation Proceeds": The excess, if any, of (a) the Net
Liquidation Proceeds from the sale or liquidation of a Specially Serviced
Trust Mortgage Loan or, insofar as they are allocable to the related REO Trust
Mortgage Loan, from the sale or liquidation of an REO Property, over (b) the

                                     -29-
<PAGE>

sum of (i) interest on any related Advances, (ii) any related Servicing
Advances, and (iii) the amount needed to pay off in full the subject Trust
Mortgage Loan or related REO Trust Mortgage Loan and all amounts due with
respect thereto.

          "Excess Liquidation Proceeds Account": The account, accounts or,
subject to Section 3.04(h), sub-account created and maintained by the Trustee,
which, subject to Section 3.04(h), shall be entitled "Wells Fargo Bank
Minnesota, N.A. [or the name of any successor Trustee], as Trustee, in trust
for the registered holders of Credit Suisse First Boston Mortgage Securities
Corp., Commercial Mortgage Pass-Through Certificates, Series 2003-C4, Excess
Liquidation Proceeds Account", and which shall be an Eligible Account or,
subject to Section 3.04(h), a subaccount of an Eligible Account. The Excess
Liquidation Proceeds Account shall be an asset of REMIC I.

          "Excess Rate": With respect to each ARD Mortgage Loan (and each REO
Trust Mortgage Loan that relates to an ARD Trust Mortgage Loan) after the
related Anticipated Repayment Date, the excess of (i) the applicable Revised
Rate over (ii) the applicable Mortgage Rate in effect immediately prior to the
related Anticipated Repayment Date.

          "Excess Servicing Strip": The excess of the Master Servicing Fee
Rate over 0.01% (one basis point) per annum, subject to reduction by the
Trustee pursuant to Section 3.11(a).

          "Exchange Act": The Securities Exchange Act of 1934, as amended from
time to time.

          "Exchange Act Reports": All Current Reports on Form 8-K and Annual
Reports on Form 10-K that are to be filed with the Commission with respect to
the Trust as contemplated by Section 3.26.

          "Exemption-Favored Party": Any of (i) CSFB LLC, (ii) any Person
directly or indirectly, through one or more intermediaries, controlling,
controlled by or under common control with CSFB LLC, and (iii) any member of
any underwriting syndicate or selling group of which any Person described in
clauses (i) and (ii) is a manager or co-manager with respect to a Class of
Certificates (other than the Class R and Class V Certificates) that is
investment grade rated by at least one Rating Agency.

          "Fair Value": As defined in Section 3.18(b).

          "FDIC": Federal Deposit Insurance Corporation or any successor.

          "FHLMC": Federal Home Loan Mortgage Corporation or any successor.

          "Fidelity Bond": As defined in Section 3.07(c).

          "Final Distribution Date": The final Distribution Date on which any
distributions are to be made hereunder on the Certificates in connection with
the termination of the Trust.

          "Final Recovery Determination": A determination by the Special
Servicer with respect to any defaulted Mortgage Loan or REO Property that
there has been a recovery of all Insurance and Condemnation Proceeds,
Liquidation Proceeds and other payments or recoveries that, in the Special
Servicer's reasonable good faith judgment, exercised without regard to any
obligation of the Special Servicer to make payments from its own funds
pursuant to Section 3.07(b), will ultimately be recoverable.

                                     -30-
<PAGE>

          "FNMA": Federal National Mortgage Association or any successor
thereto.

          "GAAP": Generally accepted accounting principles in the United
States.

          "General Special Servicer": As defined in Section 3.01(f).

          "Global Certificate": With respect to any Class of Non-Registered
Certificates, any related Regulation S Global Certificate or Rule 144A Global
Certificate.

          "Grantor Trust": A grantor trust as defined under Subpart E of Part
1 of Subchapter J of the Code.

          "Grantor Trust Pool": Either of Grantor Trust V or Grantor Trust R.

          "Grantor Trust R": The Grantor Trust designated as such in Section
2.09(b).

          "Grantor Trust V": The Grantor Trust designated as such in Section
2.09(a).

          "Ground Lease": The ground lease pursuant to which any Borrower
holds a leasehold interest in the related Mortgaged Property, together with
any estoppels or other agreements executed and delivered by the ground lessor
in favor of the lender under the related Mortgage Loan.

          "Group 1 Trust Mortgage Loan": Any Trust Mortgage Loan identified on
the Trust Mortgage Loan Schedule as belonging to Loan Group No. 1.

          "Group 2 Trust Mortgage Loan": Any Trust Mortgage Loan identified on
the Trust Mortgage Loan Schedule as belonging to Loan Group No. 2.

          "Group A-SP REMIC III Regular Interests": Collectively, REMIC III
Regular Interest A-SP-A-1-A-2, REMIC III Regular Interest A-SP-A-1-A-3, REMIC
III Regular Interest A-SP-A-1-A-4, REMIC III Regular Interest A-SP-A-1-A-5,
REMIC III Regular Interest A-SP-A-1-A-6, REMIC III Regular Interest
A-SP-A-1-A-7, REMIC III Regular Interest A-SP-A-1-A-8, REMIC III Regular
Interest A-SP-A-1-2, REMIC III Regular Interest A-SP-A-1-3, REMIC III Regular
Interest A-SP-A-2-1, REMIC III Regular Interest A-SP-A-2-2, REMIC III Regular
Interest A-SP-A-2-3, REMIC III Regular Interest A-SP-A-3, REMIC III Regular
Interest A-SP-A-4-1, REMIC III Regular Interest A-SP-A-4-2, REMIC III Regular
Interest A-SP-A-4-3, REMIC III Regular Interest A-SP-A-4-4, REMIC III Regular
Interest A-SP-B and REMIC III Regular Interest A-SP-C,

          "Group A-X REMIC III Regular Interests": Collectively, REMIC III
Regular Interest A-X-A-1-A-1, REMIC III Regular Interest A-X-A-1-A-2, REMIC
III Regular Interest A-X-A-1-A-3, REMIC III Regular Interest A-X-A-1-A-4,
REMIC III Regular Interest A-X-A-1-A-5, REMIC III Regular Interest
A-X-A-1-A-6, REMIC III Regular Interest A-X-A-1-A-7, REMIC III Regular
Interest A-X-A-1-A-8, REMIC III Regular Interest A-X-A-1-1, REMIC III Regular
Interest A-X-A-1-2, REMIC III Regular Interest A-X-A-1-3, REMIC III Regular
Interest A-X-A-2-1, REMIC III Regular Interest A-X-A-2-2, REMIC III Regular
Interest A-X-A-2-3, REMIC III Regular Interest A-X-A-3, REMIC III Regular
Interest A-X-A-4-1, REMIC III Regular Interest A-X-A-4-2, REMIC III Regular
Interest A-X-A-4-3, REMIC III Regular Interest A-X-A-4-4, REMIC III Regular
Interest A-X-B, REMIC III Regular Interest A-X-C, REMIC III Regular Interest
A-X-D, REMIC III Regular Interest A-X-E, REMIC III

                                     -31-
<PAGE>

Regular Interest A-X-F, REMIC III Regular Interest A-X-G, REMIC III
Regular Interest A-X-H, REMIC III Regular Interest A-X-J, REMIC III Regular
Interest A-X-K, REMIC III Regular Interest A-X-L, REMIC III Regular Interest
A-X-M, REMIC III Regular Interest A-X-N, REMIC III Regular Interest A-X-O and
REMIC III Regular Interest A-X-P.

          "Hazardous Materials": Any dangerous, toxic or hazardous pollutants,
chemicals, wastes or substances, including those so identified pursuant to
CERCLA or any other federal, state or local environmental related laws and
regulations, and specifically including asbestos and asbestos-containing
materials, polychlorinated biphenyls, radon gas, petroleum and petroleum
products, urea formaldehyde and any substances classified as being "in
inventory", "usable work in process" or similar classification which would, if
classified as unusable, be included in the foregoing definition.

          "Independent": When used with respect to any specified Person, any
such Person that (i) is in fact independent of the Depositor, the Master
Servicer, the Special Servicer, the Trustee and any and all Affiliates
thereof, (ii) does not have any material direct financial interest in or any
material indirect financial interest in any of the Depositor, the Master
Servicer, the Special Servicer or any Affiliate thereof and (iii) is not
connected with the Depositor, the Master Servicer, the Special Servicer or any
Affiliate thereof as an officer, employee, promoter, underwriter, trustee,
partner, director or Person performing similar functions; provided, however,
that a Person shall not fail to be Independent of the Depositor, the Master
Servicer, the Special Servicer, the Trustee or any Affiliate thereof merely
because such Person is the beneficial owner of 1% or less of any class of debt
or equity securities issued by the Depositor, the Master Servicer, the Special
Servicer, the Trustee or any Affiliate thereof, as the case may be.

          "Independent Contractor": Either (i) any Person that would be an
"independent contractor" with respect to the Trust Fund within the meaning of
Section 856(d)(3) of the Code if the Trust Fund were a real estate investment
trust (except that the ownership test set forth in that Section shall be
considered to be met by any Person that owns, directly or indirectly, 35% or
more of any Class of Certificates, or such other interest in any Class of
Certificates as is set forth in an Opinion of Counsel, which shall be at no
expense to the Trustee, the Master Servicer or the Trust, delivered to the
Trustee and the Master Servicer), so long as the Trust Fund does not receive
or derive any income from such Person and provided that the relationship
between such Person and the Trust Fund is at arm's length, all within the
meaning of Treasury regulations section 1.856-4(b)(5) (except that the Master
Servicer or the Special Servicer shall not be considered to be an Independent
Contractor under the definition in this clause (i) unless an Opinion of
Counsel (at the expense of the party seeking to be deemed an Independent
Contractor) has been delivered to the Trustee to that effect), or (ii) any
other Person (including the Master Servicer and the Special Servicer) upon
receipt by the Trustee and the Master Servicer of an Opinion of Counsel (at
the expense of the party seeking to be deemed an Independent Contractor), 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 or cause any income realized in
respect of such REO Property to fail to qualify as Rents from Real Property
(provided that such income would otherwise so qualify).

          "Independent Director": A duly appointed member of the board of
directors of the relevant entity who shall not have been, at the time of such
appointment, at any time after appointment,

                                     -32-
<PAGE>

or at any time in the preceding five (5) years, (i) a direct or indirect
legal or beneficial owner in such entity or any of its affiliates,
(ii) a creditor, supplier, employee, officer, director, manager or contractor
of such entity or any of its affiliates, (iii) a person who controls such
entity or any of its affiliates, or (iv) a member of the immediate family of a
person defined in (i), (ii) or (iii) above.

          "Initial Pool Balance": The aggregate Cut-off Date Principal Balance
of all the Original Trust Mortgage Loans.

          "Initial Purchaser": CSFB LLC, as initial purchaser of the
Non-Registered Certificates.

          "Initial Resolution Period": As defined in Section 2.03(b).

          "Institutional Accredited Investor" or "IAI": An "accredited
investor" as defined in any of paragraphs (1), (2), (3) and (7) of Rule 501(a)
under the Securities Act or any entity in which all of the equity owners come
within such paragraphs.

          "Institutional Lender/Owner": One or more of the following: (i) a
bank, savings and loan association, investment bank, insurance company, real
estate investment trust, trust company, commercial credit corporation, pension
plan, pension fund or pension advisory firm, mutual fund, government entity or
plan, (ii) an investment company, money management firm or "qualified
institutional buyer" within the meaning of Rule 144A under the Securities Act,
which is regularly engaged in the business of making or owning mezzanine loans
of similar types to the mezzanine loan in the question, (iii) a trustee in
connection with a securitization of the mezzanine loan, so long as such
trustee or the servicer therefor is an entity that otherwise would be an
Institutional Lender/Owner, (iv) an institution substantially similar to any
of the foregoing, in each case of clauses (i), (ii), (iii) or (iv) of this
definition, which (A) has total assets (in name or under management) in excess
of $600,000,000 and (except with respect to a pension advisory firm or similar
fiduciary) capital/statutory surplus or shareholder's equity of $200,000,000
and (B) is regularly engaged in the business of making or owning commercial
loans or (v) an entity Controlled (as defined below) by the Underwriters or
any of the entities described in clause (i) above. For purposes of this
definition only, "Control" means the ownership, directly or indirectly, in the
aggregate of more than fifty percent (50%) of the beneficial ownership
interests of an entity and the possession, directly or indirectly, of the
power to direct or cause the direction of the management or policies of an
entity, whether through the ability to exercise voting power, by contract or
otherwise ("Controlled" has the meaning correlative thereto). The Special
Servicer shall obtain from the proposed transferee, and shall be entitled to
rely on, (i) an officer's certificate of a proposed transferee that such
transferee satisfies the requirements of this definition and (ii) in the case
of any proposed transferee that is an entity described in and meeting the
criteria in clauses (i)-(iv) of the immediately preceding sentence, the most
recent financial statements of such transferee.

          "Insurance and Condemnation Proceeds": All proceeds (net of expenses
of collection, including attorney's fees and expenses) paid under any
Insurance Policy or in connection with the full or partial condemnation (or
threatened condemnation) of a Mortgaged Property, in either case, to the
extent such proceeds are not applied to the restoration of the related
Mortgaged Property or released to the Borrower, in either case, in accordance
with the Servicing Standard.

          "Insurance Policy": With respect to any Mortgage Loan or REO
Property, any hazard insurance policy, flood insurance policy, title insurance
policy, earthquake insurance policy, Environmental Insurance Policy, business
interruption insurance policy or other insurance policy that is

                                     -33-
<PAGE>

maintained from time to time in respect of such Mortgage Loan (or the
related Mortgaged Property) or such REO Property, as the case may be.

          "Insured Environmental Event": As defined in Section 3.07(j).

          "Interest Accrual Amount": As defined:

          (a) with respect to any REMIC I Regular Interest, for any Interest
     Accrual Period, in Section 2.04(g);

          (b) with respect to any REMIC II Regular Interest, for any Interest
     Accrual Period, in Section 2.06(g);

          (c) with respect to any Group A-SP REMIC III Regular Interest or
     Group A-X REMIC III Regular Interest, for any Interest Accrual Period, in
     Section 2.08(g); and

          (d) with respect to any Class of REMIC III Regular Interest
     Certificates, for any Interest Accrual Period, in Section 2.08(g).

          "Interest Accrual Basis": The basis on which interest accrues in
respect of any Mortgage Loan, any REMIC I Regular Interest, any REMIC II
Regular Interest, any Group A-SP REMIC III Regular Interest, any Group A-X
REMIC III Regular Interest or any Class of REMIC III Regular Interest
Certificates, consisting of one of the following: (i) a 30/360 Basis; or (ii)
an Actual/360 Basis.

          "Interest Accrual Period": With respect to any REMIC I Regular
Interest, any REMIC II Regular Interest, any Group A-SP REMIC III Regular
Interest, any Group A-X REMIC III Regular Interest or any Class of REMIC III
Regular Interest Certificates, for any Distribution Date, the calendar month
immediately preceding the month in which such Distribution Date occurs.

          "Interest Distribution Amount": With respect to any REMIC I Regular
Interest, any REMIC II Regular Interest, any Group A-SP REMIC III Regular
Interest, any Group A-X REMIC III Regular Interest or any Class of REMIC III
Regular Interest Certificates, for any Distribution Date, the sum of the
related Current Interest Distribution Amount and the related Carryforward
Interest Distribution Amount for such Distribution Date.

          "Interest Only Certificates": Collectively, the Class A-X and Class
A-SP Certificates.

          "Interest Reserve Account": The account, accounts or, subject to
Section 3.04(h), sub-account created and maintained by the Trustee, pursuant
to Section 3.28, in trust for the Certificateholders, which, subject to
Section 3.04(h), shall be entitled "[name of Trustee], as Trustee, in trust
for the registered holders of Credit Suisse First Boston Mortgage Securities
Corp., Commercial Mortgage Pass-Through Certificates, Series 2003-C4, Interest
Reserve Account", and which shall be an Eligible Account or, subject to
Section 3.04(h), a sub-account of an Eligible Account.

          "Interest Reserve Loan": Any Actual/360 Trust Mortgage Loan (or
successor REO Trust Mortgage Loan with respect thereto).

                                     -34-
<PAGE>

          "Interested Person": The Depositor, the Master Servicer, the Special
Servicer, any Independent Contractor engaged by the Special Servicer, any
Holder of a Certificate or any Affiliate of any such Person.

          "Investment Account": As defined in Section 3.06(a).

          "Investment Company Act": The Investment Company Act of 1940, as
amended.

          "IRS": The Internal Revenue Service or any successor.

          "Issue Price": With respect to each Class of Certificates, the
"issue price" as defined in the Code and Treasury regulations promulgated
thereunder.

          "KeyBank": As defined in the Preliminary Statement to this
Agreement.

          "KeyBank Mortgage Loan Purchase Agreement": As defined in the
Preliminary Statement to this Agreement.

          "KeyBank Trust Mortgage Loan": Any Trust Mortgage Loan that is
either an Original KeyBank Trust Mortgage Loan or a Replacement Trust Mortgage
Loan that was delivered under the KeyBank Mortgage Loan Purchase Agreement in
substitution for an Original KeyBank Trust Mortgage Loan.

          "KRECM": As defined in the Preliminary Statement to this Agreement.

          "Late Collections": With respect to the Mayfair Mall Non-Trust
Companion Loan or any Trust Mortgage Loan, all amounts (except Penalty
Charges) received thereon during any Collection Period, whether as payments,
Insurance and Condemnation Proceeds, Liquidation Proceeds or otherwise, which
represent late payments or collections of principal or interest due in respect
of such Mortgage Loan (without regard to any acceleration of amounts due
thereunder by reason of default) on a Due Date in a previous Collection Period
and not previously received. With respect to any REO Mortgage Loan, all
amounts (except Penalty Charges) received in connection with the related REO
Property during any Collection Period, whether as Insurance and Condemnation
Proceeds, Liquidation Proceeds, REO Revenues or otherwise, which represent
late collections of principal or interest due or deemed due in respect of such
REO Mortgage Loan or the predecessor Mortgage Loan (without regard to any
acceleration of amounts due under the predecessor Mortgage Loan by reason of
default) on a Due Date in a previous Collection Period and not previously
received.

          "Latest Possible Maturity Date": With respect to any REMIC I Regular
Interest, any REMIC II Regular Interest, any Group A-SP REMIC III Regular
Interest, any Group A-X REMIC III Regular Interest or any Class of REMIC III
Regular Interest Certificates, the date designated as the "latest possible
maturity date" thereof solely for purposes of satisfying Treasury regulations
section 1.860G-1(a)(4)(iii).

          "Lennar": As defined in the Preliminary Statement to this Agreement.

                                     -35-
<PAGE>

          "Letter of Credit": With respect to any Mortgage Loan, any
third-party letter of credit delivered by or at the direction of the Borrower
pursuant to the terms of such Mortgage Loan in lieu of the establishment of,
or deposit otherwise required to be made into, a reserve fund.

          "Liquidation Event": With respect to any Mortgage Loan or REO
Property, any of the following events: (i) payment in full of such Mortgage
Loan; (ii) the making of a Final Recovery Determination with respect to such
Mortgage Loan or REO Property; (iii) in the case of a Trust Mortgage Loan, the
repurchase or replacement of such Trust Mortgage Loan by the related Mortgage
Loan Seller pursuant to Section 7 of the related Mortgage Loan Purchase
Agreement or by the Column Performance Guarantor pursuant to the Column
Performance Guarantee; (iv) in the case of a Defaulted Trust Mortgage Loan,
the purchase of such Trust Mortgage Loan by the Series 2003-C4 Directing
Certificateholder or the Special Servicer or any assignee or Affiliate of
either of the foregoing pursuant to Section 3.18; (v) in the case of the
Mayfair Mall Trust Mortgage Loan, the purchase of such Trust Mortgage Loan by
the Class MM Directing Certificateholder, the Series 2003-C4 Directing
Certificateholder or a Mayfair Mall Non-Trust Companion Loan Holder pursuant
to or as contemplated by Section 3.31; (vi) in the case of any A/B Mortgage
Loan Combination, the purchase of the related A-Note Trust Mortgage Loan by
the related B-Note Non-Trust Companion Loan Holder pursuant to the related A/B
Intercreditor Agreement; (vii) the purchase of such Mortgage Loan by a related
Mezzanine Loan Holder; (viii) the sale or other liquidation of such REO
Property hereunder; or (ix) the purchase of such Mortgage Loan (if it is a
Trust Mortgage Loan) or REO Property by the Holders of more than 50% of the
Percentage Interests in the Controlling Class, the Special Servicer or the
Master Servicer pursuant to Section 9.01.

          "Liquidation Expenses": All customary, reasonable and necessary
"out-of-pocket" costs and expenses due and owing (but not otherwise covered by
Servicing Advances) in connection with the liquidation of any Specially
Serviced Mortgage Loan or REO Property (including legal fees and expenses,
committee or referee fees and, if applicable, brokerage commissions and
conveyance taxes).

          "Liquidation Fee": A fee payable to the Special Servicer with
respect to any Specially Serviced Trust Mortgage Loan or REO Trust Mortgage
Loan as to which the Special Servicer receives a full, partial or discounted
payoff with respect thereto from the related Borrower or any Liquidation
Proceeds with respect thereto (or, under similar circumstances, the comparable
fee payable to the Special Servicer with respect to a Mayfair Mall Non-Trust
Companion Loan or any successor REO Non-Trust Companion Loan with respect
thereto), all as provided in Section 3.11(b).

          "Liquidation Fee Rate": 1.0%.

          "Liquidation Proceeds": Cash amounts (other than Insurance and
Condemnation Proceeds and REO Revenues) received by the Master Servicer or
Special Servicer, in connection with: (i) the liquidation of a Mortgaged
Property or other collateral constituting security for a defaulted Mortgage
Loan, through trustee's sale, foreclosure sale, REO Disposition or otherwise,
exclusive of any portion thereof required to be released to the related
Borrower; (ii) the realization upon any deficiency judgment obtained against a
Borrower; (iii) the purchase of a Defaulted Trust Mortgage Loan by the Series
2003-C4 Directing Certificateholder or the Special Servicer or any assignee or
Affiliate of either of the foregoing pursuant to Section 3.18; (iv) the
repurchase or replacement of a Trust Mortgage Loan by any Mortgage Loan Seller
pursuant to Section 7 of the related Mortgage Loan Purchase Agreement or, in
the case of a Column Trust Mortgage Loan, by the Column Performance Guarantor
pursuant to the

                                     -36-
<PAGE>

Column Performance Guarantee; (v) the purchase of the Mayfair Mall Trust
Mortgage Loan by the Class MM Directing Certificateholder, the
Series 2003-C4 Directing Certificateholder or a Mayfair Mall Non-Trust
Companion Loan Holder pursuant to or as contemplated by Section 3.31; (vi) the
purchase of an A-Note Mortgage Loan by the related B-Note Non-Trust Companion
Loan Holder pursuant to the related A/B Intercreditor Agreement; (vii) the
purchase of any Mortgage Loan by a related Mezzanine Loan Holder; or (viii)
the purchase of all Trust Mortgage Loans and REO Properties by Holders of more
than 50% of the Percentage Interests in the Controlling Class, the Special
Servicer or the Master Servicer pursuant to Section 9.01.

          "Loan Agreement": With respect to any Mortgage Loan, the loan
agreement, if any, between the related Mortgage Loan Originator and the
Borrower, pursuant to which such Mortgage Loan was made.

          "Loan Group": Either of Loan Group No. 1 or Loan Group No. 2.

          "Loan Group No. 1": Collectively, all of the Trust Mortgage Loans
that are Group 1 Trust Mortgage Loans and any successor REO Trust Mortgage
Loans with respect thereto.

          "Loan Group No. 2": Collectively, all of the Trust Mortgage Loans
that are Group 2 Trust Mortgage Loans and any successor REO Trust Mortgage
Loans with respect thereto.

          "Loan-to-Value Ratio": With respect to any Trust Mortgage Loan, as
of any date of determination, the fraction, expressed as a percentage, the
numerator of which is the principal balance of such Trust Mortgage Loan (or,
in the case of the Mayfair Mall Trust Mortgage Loan, of the Mayfair Mall
Mortgage Loan Combination) at the time of determination, and the denominator
of which is the Appraised Value of the related Mortgaged Property.

          "Lock-Box Account": With respect to any Mortgaged Property, the
account, if any, created pursuant to any documents relating to a Mortgage Loan
to receive revenues therefrom. Any Lock-Box Account shall be beneficially
owned for federal income tax purposes by the Person who is entitled to receive
the reinvestment income or gain thereon in accordance with the terms and
provisions of the related Mortgage Loan and Section 3.06, which Person shall
be taxed on all reinvestment income or gain thereon. The Master Servicer shall
be permitted to make withdrawals therefrom for deposit into the related Cash
Collateral Accounts.

          "Lock-Box Agreement": With respect to any Mortgage Loan, the
lock-box agreement, if any, between the applicable Mortgage Loan Originator or
the applicable Mortgage Loan Seller and the related Borrower, pursuant to
which the related Lock-Box Account may have been established.

          "Loss Reimbursement Amount": With respect to:

          (a) any REMIC I Regular Interest, for any Distribution Date, the
     total amount of all Unfunded Principal Balance Reductions, if any,
     incurred by (but not reimbursed to) REMIC II with respect to such REMIC I
     Regular Interest on all prior Distribution Dates, if any;

          (b) any REMIC II Regular Interest, for any Distribution Date, the
     total amount of all Unfunded Principal Balance Reductions, if any,
     incurred by (but not reimbursed to) REMIC III with respect to such REMIC
     II Regular Interest on all prior Distribution Dates, if any; and

                                     -37-
<PAGE>

          (c) any Class of Principal Balance Certificates, for any
     Distribution Date, the total amount of all Unfunded Principal Balance
     Reductions, if any, incurred by (but not reimbursed to) the Holders of
     such Class of Certificates on all prior Distribution Dates, if any.

          "MAI": Member of the Appraisal Institute.

          "Management Agreement": With respect to any Mortgage Loan, the
Management Agreement, if any, by and between the Manager and the related
Borrower, or any successor Management Agreement between such parties.

          "Manager": With respect to any Mortgage Loan, any property manager
for the related Mortgaged Property or Mortgaged Properties.

          "Master Servicer": KRECM, in its capacity as master servicer
hereunder, or any successor master servicer appointed as herein provided.

          "Master Servicer Account": As defined in Section 3.06(a).

          "Master Servicer Employees": As defined in Section 3.07(c).

          "Master Servicer Remittance Date": With respect to any Distribution
Date, the Business Day preceding such Distribution Date.

          "Master Servicing Fee": With respect to each Trust Mortgage Loan and
REO Trust Mortgage Loan, the fee payable to the Master Servicer pursuant to
the first paragraph of Section 3.11(a), and any comparable fee payable to the
Master Servicer with respect to each Mayfair Mall Non-Trust Companion Loan and
any successor REO Non-Trust Companion Loan with respect thereto pursuant to
the sixth paragraph of Section 3.11(a).

          "Master Servicing Fee Rate": With respect to each Trust Mortgage
Loan and REO Trust Mortgage Loan, the rate per annum specified as such on the
Trust Mortgage Loan Schedule; and, with respect to each Mayfair Mall Non-Trust
Mortgage Loan and any successor REO Non-Trust Companion Loan with respect
thereto, 0.01% per annum.

          "Material Breach": As defined in Section 2.03(b).

          "Material Defect": As defined in Section 2.03(b).

          "Maturity Date": With respect to any Mortgage Loan as of any date of
determination, the date on which the last payment of principal is due and
payable under the related Note, after taking into account all Principal
Prepayments received prior to such date of determination, but without giving
effect to (i) any acceleration of the principal of such Mortgage Loan by
reason of default thereunder, (ii) any grace period permitted by the related
Note or (iii) any modification, waiver or amendment of such Mortgage Loan
granted or agreed to by the Master Servicer or the Special Servicer pursuant
to Section 3.20 occurring prior to such date of determination.

          "Mayfair Mall Change of Control Event": The event that exists when,
as of any date of determination, the Class Principal Balance of the Class MM
Certificates (net of any Appraisal Reduction

                                     -38-
<PAGE>

Amount with respect to the Mayfair Mall Trust Mortgage Loan or any
successor REO Trust Mortgage Loan with respect thereto) is less than 25% of
the initial Certificate Principal Balance of the Class MM Certificates.

          "Mayfair Mall Control Group": The holders (and/or, consistent with
Section 3.9 of the Mayfair Mall Intercreditor Agreement, the respective
representatives and/or designees of holders) of such Mortgage Loans
constituting the Mayfair Mall Mortgage Loan Combination as represent more than
50% of the unpaid principal balance of the entire Mayfair Mall Mortgage Loan
Combination; provided that, for purposes of establishing a Mayfair Mall
Control Group, the Mortgage Loans constituting the Mayfair Mall Mortgage Loan
Combination shall be deemed to remain outstanding even if the Mayfair Mall
Mortgaged Property becomes an REO Property.

          "Mayfair Mall Cure Event": As defined in Section 3.31.

          "Mayfair Mall Cure Payments": As defined in Section 3.31.

          "Mayfair Mall Cure Period": As defined in Section 3.31.

          "Mayfair Mall Custodial Account" shall mean, with respect to the
Mayfair Mall Mortgage Loan Combination, the segregated account or accounts
(or, subject to Section 3.04(h), the sub-account) created and maintained by
the Master Servicer pursuant to Section 3.04(f) in the name of the Trustee on
behalf of the Certificateholders and the holders of the Mayfair Mall Non-Trust
Companion Loans, which, subject to Section 3.04(h), shall be entitled "[name
of Master Servicer], as Master Servicer, in trust for [name of Trustee], on
behalf of Holders of Credit Suisse First Boston Mortgage Securities Corp.,
Commercial Mortgage Pass-Through Certificates, Series 2003-CK2 and [names of
the Mayfair Mall Non-Trust Companion Loan Holders], as their interests may
appear". The Mayfair Mall Custodial Account shall be an Eligible Account (or,
subject to Section 3.04(h), a sub-account of an Eligible Account) and, only to
the extent of amounts therein relating to the Mayfair Mall Trust Mortgage Loan
or any successor REO Trust Mortgage Loan with respect thereto, shall be part
of REMIC I.

          "Mayfair Mall Intercreditor Agreement" means the intercreditor
agreement dated September 11, 2003, among Column, as the A-1 Noteholder, the
Depositor, as the A-2 Noteholder, Column, as the A-3 Noteholder, and Column,
as the A-4 Noteholder, providing, among other things, that all amounts
received in respect of the Mayfair Mall Mortgage Loan Combination will be paid
pro rata (by balance) to the respective holders of the Mortgage Loans
comprising the Mayfair Mall Mortgage Loan Combination (subject, in each such
case, to application of such amounts for such other purposes as are permitted
hereby and/or by the Mayfair Mall Intercreditor Agreement).

          "Mayfair Mall Mortgage Loan Combination": The Mayfair Mall Trust
Mortgage Loan and the three Mayfair Mall Non-Trust Companion Loans,
collectively.

          "Mayfair Mall Mortgaged Property": The Mortgaged Property identified
on the Trust Mortgage Loan Schedule as Mayfair Mall.

          "Mayfair Mall Non-Trust Companion Loan": Any of the three Mortgage
Loans with an aggregate original principal balance of $150,000,000 that are
secured by a Mortgage on the Mayfair Mall Mortgaged Property, none of which
Mortgage Loans will be in the Trust Fund.

                                     -39-
<PAGE>

          "Mayfair Mall Non-Trust Companion Loan Holder": Column, or its
successors and assigns, as the holder of any Mayfair Mall Non-Trust Companion
Loan.

          "Mayfair Mall Payment Trigger Event": The event that exists when, as
of any date of determination, (i) an event of default exists under the Mayfair
Mall Trust Mortgage Loan, (ii) a Servicing Transfer Event exists with respect
to the Mayfair Mall Trust Mortgage Loan, (iii) the Mayfair Mall Mortgaged
Property has become an REO Property, or (iv) payments of principal and
interest are being made with respect to the Mayfair Mall Trust Mortgage Loan
in accordance with a modification or forbearance agreement.

          "Mayfair Mall Purchase Date": As defined in Section 3.31.

          "Mayfair Mall Purchase Notice": As defined in Section 3.31.

          "Mayfair Mall Special Servicer": As defined in Section 3.01(f).

          "Mayfair Mall Specially Designated Servicing Action": As defined in
the Mayfair Mall Intercreditor Agreement.

          "Mayfair Mall Trust Mortgage Loan": The Trust Mortgage Loan with an
original principal balance of $50,000,000 that is secured by a Mortgage on the
Mayfair Mall Mortgaged Property.

          "Mezzanine Loan": Any loan constituting "Mezzanine Debt" or a
"Mezzanine Loan", as identified in Exhibit C-2 attached hereto.

          "Mezzanine Loan Collateral": With respect to any Mezzanine Loan, any
stock, partnership interests, membership interests or other equity interest in
the related Borrower that has been pledged pursuant to such Mezzanine Loan.

          "Mezzanine Loan Holder": With respect to any Mezzanine Loan, the
holder or obligee thereof.

          "Monthly Payment": With respect to any Mortgage Loan (other than any
REO Mortgage Loan) and any Due Date, the scheduled monthly payment of
principal, if any, and interest at the Mortgage Rate, excluding any Balloon
Payment or Excess Interest, which is payable by the related Borrower on such
Due Date under the related Note (as such terms may be changed or modified in
connection with a bankruptcy or similar proceeding involving the related
Borrower or by reason of a modification, waiver or amendment of such Mortgage
Loan granted or agreed to by the Master Servicer or Special Servicer pursuant
to Section 3.20), without regard to any acceleration of principal of such
Mortgage Loan by reason of a default thereunder. With respect to an REO
Mortgage Loan, the monthly payment, excluding any Balloon Payment or Excess
Interest, that would otherwise have been payable on the related Due Date had
the related Note not been discharged, determined as set forth in the preceding
sentence and on the assumption that all other amounts, if any, due thereunder
are paid when due.

          "Moody's": Moody's Investors Service, Inc. or its successor in
interest. If neither such rating agency nor any successor remains in
existence, "Moody's" shall be deemed to refer to such other nationally
recognized statistical rating agency or other comparable Person designated by
the Depositor,

                                     -40-
<PAGE>

notice of which designation shall be given to the other parties hereto,
and specific ratings of Moody's Investors Service, Inc. herein
referenced shall be deemed to refer to the equivalent ratings of the party so
designated. References herein to "applicable rating category" (other than such
references to "highest applicable rating category") shall, in the case of
Moody's, be deemed to refer to such applicable rating category of Moody's,
without regard to any plus or minus or other comparable rating qualification.

          "Mortgage": With respect to any Mortgage Loan, the mortgage, deed of
trust, deed to secure debt or other instrument securing a Note and creating a
lien on the related Mortgaged Property.

          "Mortgage File": With respect to any Trust Mortgage Loan, the
following documents:

          (i)    the original Note (or a lost note affidavit), bearing, or
     accompanied by, all prior and intervening endorsements or assignments
     showing a complete chain of endorsement or assignment from the applicable
     Mortgage Loan Originator either in blank or to the applicable Mortgage
     Loan Seller, and further endorsed (at the direction of the Depositor
     given pursuant to the related Mortgage Loan Purchase Agreement) by the
     applicable Mortgage Loan Seller, on its face or by allonge attached
     thereto, without recourse, in blank or to the order of the Trustee in the
     following form: "Pay to the order of Wells Fargo Bank Minnesota, N.A., as
     trustee for the registered Holders of Credit Suisse First Boston Mortgage
     Securities Corp., Commercial Mortgage Pass-Through Certificates, Series
     2003-C4, without recourse, representation or warranty, express or
     implied";

          (ii)   a duplicate original Mortgage or a counterpart thereof, or if
     such Mortgage has been returned by the related recording office, (A) an
     original, (B) a certified copy or (C) a copy thereof from the applicable
     recording office, and originals or counterparts (or originals or copies
     of certified copies from the applicable recording office) of any
     intervening assignments thereof from the related Mortgage Loan Originator
     to the applicable Mortgage Loan Seller, in each case in the form
     submitted for recording or, if recorded, with evidence of recording
     indicated thereon;

          (iii)  an original assignment of the Mortgage, in recordable form
     (except for any missing recording information and, if applicable,
     completion of the name of the assignee), from the applicable Mortgage
     Loan Seller (or the Mortgage Loan Originator), either in blank or to
     "Wells Fargo Bank Minnesota, N.A., as trustee for the registered Holders
     of Credit Suisse First Boston Mortgage Securities Corp., Commercial
     Mortgage Pass-Through Certificates, Series 2003-C4";

          (iv)   an original, counterpart or copy of any related Assignment of
     Leases (if such item is a document separate from the Mortgage), and the
     originals, counterparts or copies of any intervening assignments thereof
     from the applicable Mortgage Loan Originator of the Trust Mortgage Loan
     to the applicable Mortgage Loan Seller, in each case in the form
     submitted for recording or, if recorded, with evidence of recording
     thereon;

          (v)    an original assignment of any related Assignment of Leases (if
     such item is a document separate from the Mortgage), in recordable form
     (except for any missing recording information and, if applicable,
     completion of the name of the assignee), from the Mortgage Loan Seller
     (or the Mortgage Loan Originator), either in blank or to "Wells Fargo
     Bank Minnesota, N.A., as trustee for the registered Holders of Credit
     Suisse First Boston Mortgage Securities Corp., Commercial Mortgage
     Pass-Through Certificates, Series 2003-C4";

                                     -41-
<PAGE>

          (vi)   an original or copy of any related Security Agreement (if such
     item is a document separate from the Mortgage) and the originals or
     copies of any intervening assignments thereof from the applicable
     Mortgage Loan Originator of the Trust Mortgage Loan to the applicable
     Mortgage Loan Seller;

          (vii)  an original assignment of any related Security Agreement (if
     such item is a document separate from the Mortgage), from the Mortgage
     Loan Seller or the applicable Mortgage Loan Originator, either in blank
     or to "Wells Fargo Bank Minnesota, N.A., as trustee for the registered
     Holders of Credit Suisse First Boston Mortgage Securities Corp.,
     Commercial Mortgage Pass-Through Certificates, Series 2003-C4", which
     assignment may be included as part of an omnibus assignment covering
     other documents relating to the Trust Mortgage Loan; provided that such
     omnibus assignment is effective under applicable law;

          (viii) originals or copies of all (A) assumption agreements, (B)
     modifications, (C) written assurance agreements and (D) substitution
     agreements, together with any evidence of recording thereon or in the
     form submitted for recording, in those instances where the terms or
     provisions of the Mortgage, Note or any related security document have
     been modified or the Trust Mortgage Loan has been assumed;

          (ix)   the original lender's title insurance policy or a copy thereof
     (together with all endorsements or riders that were issued with or
     subsequent to the issuance of such policy), or if the policy has not yet
     been issued, the original or a copy of a binding written commitment
     (which may be a pro forma or specimen title insurance policy which has
     been accepted or approved in writing by the related title insurance
     company) or interim binder, relating to the Trust Mortgage Loan;

          (x)    the original or a counterpart of any guaranty of the
     obligations of the Borrower under the Trust Mortgage Loan;

          (xi)   certified or other copies of all UCC Financing Statements and
     continuation statements which show the filing or recording thereof or
     copies thereof in the form submitted for filing or recording sufficient
     to perfect (and maintain the perfection of) the security interest held by
     the Mortgage Loan Originator (and each assignee prior to the Trustee) in
     and to the personalty of the Borrower at the Mortgaged Property that is
     described in the related Mortgage or a separate security agreement, and
     original UCC Financing Statement assignments in a form suitable for
     filing or recording, sufficient to transfer such security interest to the
     Trustee;

          (xii)  the original or copy of the power of attorney (with evidence
     of recording thereon) granted by the Borrower if the Mortgage, Note or
     other document or instrument referred to above was not signed by the
     Borrower;

          (xiii) with respect to any debt of a Borrower (including a Non-Trust
     Companion Loan) permitted under the Trust Mortgage Loan, an original or
     copy of the subordination agreement, standstill agreement or other
     intercreditor, co-lender or similar agreement relating to such other
     debt, if any, including (if and as applicable) any A/B Intercreditor
     Agreement, the Mayfair Mall Intercreditor Agreement, mezzanine loan
     documents or preferred equity documents, together with, if the Trust
     Mortgage Loan is the Mayfair Mall Trust Mortgage Loan or an A-Note Trust
     Mortgage Loan, a copy of the Note for each related Non-Trust Companion
     Loan;

                                     -42-
<PAGE>

          (xiv)  with respect to any Cash Collateral Accounts and Lock-Box
     Accounts, an original or copy of any related cash collateral control
     agreement or lock-box control agreement, as applicable, and a copy of the
     UCC Financing Statements, if any, submitted for filing with respect to
     the related Mortgage Loan Seller's security interest in the Cash
     Collateral Accounts and Lock-Box Accounts and all funds contained therein
     (together with UCC Financing Statement assignments in a form suitable for
     filing or recording, sufficient to transfer such security interest to the
     Trustee on behalf of the Certificateholders);

          (xv)   an original or copy of any related Loan Agreement (if separate
     from the related Mortgage) and an original or copy of any related
     Lock-Box Agreement or Cash Collateral Agreement (if separate from the
     related Mortgage and Loan Agreement);

          (xvi)  the originals of Letters of Credit, if any, relating to the
     Trust Mortgage Loan;

          (xvii) any environmental insurance policies and any environmental
     guaranty or indemnity agreements or copies thereof;

         (xviii) the original Ground Lease, Ground Lease estoppels and any
     amendments thereto, if any, or a copy thereof; and

          (xix)  any additional documents required to be added to the Mortgage
     File pursuant to Section 3.20(i).

          Whenever the term "Mortgage File" is used to refer to documents
actually received by the Trustee, such term shall not be deemed to include
such documents and instruments required to be included therein unless they are
actually so received. If any Non-Trust Companion Loan is being serviced and
administered hereunder, the Mortgage File for the related Trust Mortgage Loan
shall also constitute the Mortgage File for such Non-Trust Companion Loan.

          "Mortgage Interest Accrual Period": With respect to any Mortgage
Loan, the period during which interest payable on any particular related Due
Date accrues pursuant to the related Note.

          "Mortgage Loan": Any Trust Mortgage Loan or, to the extent being
serviced hereunder, any Non-Trust Companion Loan.

          "Mortgage Loan Combination": The Mayfair Mall Mortgage Loan
Combination or any A/B Mortgage Loan Combination.

          "Mortgage Loan Combination Custodial Account": The Mayfair Mall
Custodial Account or any A/B Mortgage Loan Combination Custodial Account.

          "Mortgage Loan Documents": With respect to each Mortgage Loan, to
the extent applicable, the Loan Agreement, the Mortgage, the Note, the
Assignment of Leases (if separate from the Mortgage), the Security Agreement,
any cash management agreement, any Ground Lease, any Letters of Credit, escrow
or reserve account information relating to the Additional Collateral Trust
Mortgage Loans, any UCC Financing Statements, the title insurance policy, all
surveys, all insurance policies, any environmental liability agreements, any
escrow agreements for improvements or lease-up, any guaranties related to such
Mortgage Loan, any prior assignments of Mortgage in the event that the

                                     -43-
<PAGE>

related Mortgage Loan Seller is not the originator of record, any collateral
assignments of property management agreements and other servicing agreements
required by the applicable commitment and other loan documents, any preferred
equity and mezzanine loan documents and all modification, consolidation and
extension agreements, if any.

          "Mortgage Loan Originator": Any institution that originated a
Mortgage Loan.

          "Mortgage Loan Purchase Agreement": Either of the Column Mortgage
Loan Purchase Agreement and the KeyBank Mortgage Loan Purchase Agreement.

          "Mortgage Loan Sellers": Together, Column and KeyBank.

          "Mortgage Pool": All of the Trust Mortgage Loans and any successor
REO Trust Mortgage Loans, collectively, as of any particular date of
determination.

          "Mortgage Rate": With respect to: (i) any Mortgage Loan on or prior
to its Maturity Date, the annual rate at which interest is scheduled (in the
absence of a default and without giving effect to any Revised Rate) to accrue
on such Mortgage Loan from time to time in accordance with the related Note
and applicable law; (ii) any Mortgage Loan after its Maturity Date, the
annualized rate described in clause (i) above determined without regard to the
passage of such Maturity Date; and (iii) any REO Mortgage Loan, the annualized
rate described in clause (i) or (ii), as applicable, above, determined as if
the predecessor Mortgage Loan had remained outstanding.

          "Mortgaged Property": The underlying real property (including any
REO Property) that secures a Mortgage Loan, in each case consisting of a
parcel or parcels of land improved by a commercial and/or multifamily building
or facility, together with any personal property (to the extent the same are
owned by the Borrower and necessary in connection with the operation of the
related property), fixtures, leases and other property or rights pertaining
thereto.

          "Mortgagee": The holder of legal title to any Mortgage Loan,
together with any third parties through which such holder takes actions with
respect to such Mortgage Loan.

          "Net Available Distribution Amount": With respect to any
Distribution Date, the Available Distribution Amount for such Distribution
Date, exclusive of (i) any Class MM Available Distribution Amount for such
Distribution Date and (ii) any reimbursement to the Class MM Directing
Certificateholder, the Series 2003-C4 Directing Certificateholder and/or any
Mayfair Mall Non-Trust Companion Loan Holder(s) on such Distribution Date
pursuant to clause seventh of the first paragraph of Section 4.01(l).

          "Net Investment Earnings": (i) With respect to any of the Collection
Account, any Mortgage Loan Combination Custodial Account, any Lock-Box
Account, any Cash Collateral Account, any Servicing Account or the REO
Account, for any Collection Period, and (ii) with respect to any of the
Distribution Account, the Excess Liquidation Proceeds Account, the Excess
Interest Distribution Account and the Interest Reserve Account, for any
one-month period ending on a Distribution Date, the amount, if any, by which
the aggregate of all interest and other income realized during such period on
funds relating to the Trust Fund held in such account (and which is not
required to be paid to the related Borrower) exceeds the aggregate of all
losses, if any, incurred during such period in connection with the investment
of such funds in accordance with Section 3.06.

                                     -44-
<PAGE>

          "Net Investment Loss": (i) With respect to any of the Collection
Account, any Mortgage Loan Combination Custodial Account, any Lock-Box
Account, any Cash Collateral Account, any Servicing Account or the REO Account
for any Collection Period and (ii) with respect to any of the Distribution
Account, the Excess Liquidation Proceeds Account, the Excess Interest
Distribution Account and the Interest Reserve Account, for any one-month
period ending on a Distribution Date, the amount, if any, by which the
aggregate of all losses, if any, incurred during such period in connection
with the investment of funds relating to the Trust Fund held in such account
(and which investment is not directed by the related Borrower) in accordance
with Section 3.06 exceeds the aggregate of all interest and other income
realized during such period on such funds.

          "Net Liquidation Proceeds": The excess, if any, of (a) all
Liquidation Proceeds actually received by the Trust with respect to any
Specially Serviced Trust Mortgage Loan or REO Property, over (b) the amount of
all Liquidation Expenses incurred with respect thereto.

          "Net Mortgage Rate": With respect to any Trust Mortgage Loan or REO
Trust Mortgage Loan, as of any date of determination, a per annum rate equal
to the related Mortgage Rate minus the related Administrative Fee Rate; and,
with respect to any Mayfair Mall Non-Trust Companion Loan or REO Non-Trust
Companion Loan, as of any date of determination, a per annum rate equal to the
related Mortgage Rate minus the related Master Servicing Fee Rate.

          "Net Operating Income": With respect to any Mortgaged Property, for
any twelve-month period, the total operating revenues derived from such
Mortgaged Property during such period, minus the total operating expenses
incurred in respect of such Mortgaged Property during such period, other than
(i) non-cash items such as depreciation, (ii) amortization, (iii) actual
capital expenditures and (iv) debt service on the related Mortgage Loan.

          "Net Total Principal Distribution Amount": With respect to any
Distribution Date, the Total Principal Distribution Amount for such
Distribution Date, reduced by the Class MM Principal Distribution Amount for
such Distribution Date.

          "New Lease": Any lease of REO Property entered into at the direction
of the Special Servicer on behalf of the Trust, including any lease renewed,
modified or extended on behalf of the Trust, if the Trust Fund has the right
to renegotiate the terms of such lease.

          "Nonrecoverable Advance": Any Nonrecoverable P&I Advance or
Nonrecoverable Servicing Advance or any portion thereof.

          "Nonrecoverable P&I Advance": The portion of any P&I Advance
previously made or proposed to be made in respect of a Trust Mortgage Loan or
an REO Trust Mortgage Loan which, in the judgment (in accordance with the
Servicing Standard in the case of judgment by the Master Servicer or the
Special Servicer) of the Master Servicer, the Special Servicer or the Trustee,
as applicable, will not be ultimately recoverable, together with any accrued
and unpaid interest thereon, from Late Collections or any other recovery on or
in respect of such Trust Mortgage Loan or REO Trust Mortgage Loan. The
determination by the Master Servicer, the Special Servicer or the Trustee, as
applicable, that it has made (or, in the case of a determination made by the
Special Servicer, that the Master Servicer has made) a Nonrecoverable P&I
Advance or that any proposed P&I Advance, if made, would constitute a
Nonrecoverable P&I Advance, shall be evidenced by an Officer's Certificate
delivered (i) to the Trustee and the Depositor, in the case of the Master
Servicer, (ii) to the Master Servicer and the Trustee in the

                                     -45-
<PAGE>

case of the Special Servicer, (iii) to the Depositor and the Master
Servicer, in the case of the Trustee, and (iv) in each case, to the Series
2003-C4 Directing Certificateholder, the Class MM Directing Certificateholder
(if the Mayfair Mall Trust Mortgage Loan or any related REO Trust Mortgage
Loan is involved), each Mayfair Mall Non-Trust Companion Loan Holder or its
designee (if the Mayfair Mall Trust Mortgage Loan or any related REO Trust
Mortgage Loan is involved) and to any Requesting Subordinate Certificateholder
(at the expense of such Requesting Subordinate Certificateholder) setting
forth such determination of nonrecoverability and the considerations of the
Master Servicer, the Special Servicer or the Trustee, as applicable, forming
the basis of such determination (which shall include but shall not be limited
to information, to the extent available, such as related income and expense
statements, rent rolls, occupancy status, property inspections, and shall
include an Appraisal (provided that if an Appraisal has been obtained within
the past 12 months, no new Appraisal is required) of the related Mortgaged
Property, the cost of which Appraisal shall be advanced by the Master Servicer
as a Servicing Advance). Such Officer's Certificate shall be accompanied by
the Appraisal and all other supporting documentation relevant to the subject
parties' nonrecoverability determination. The Trustee shall be entitled to
conclusively rely on the Master Servicer's determination that a P&I Advance is
nonrecoverable. The Master Servicer and the Trustee shall be entitled to
conclusively rely on the Special Servicer's determination that a P&I Advance
is nonrecoverable.

          "Nonrecoverable Servicing Advance": The portion of any Servicing
Advance previously made or proposed to be made in respect of a Mortgage Loan
or REO Property which, in the judgment (in accordance with the Servicing
Standard in the case of judgment by the Master Servicer or the Special
Servicer) of the Master Servicer, the Special Servicer or the Trustee, as the
case may be, will not be ultimately recoverable, together with any accrued and
unpaid interest thereon, from Late Collections or any other recovery on or in
respect of such Mortgage Loan or REO Property. The determination by the Master
Servicer, the Special Servicer or the Trustee, as the case may be, that it has
made (or, in the case of a determination made by the Special Servicer, that
the Master Servicer has made) a Nonrecoverable Servicing Advance or that any
proposed Servicing Advance, if made, would constitute a Nonrecoverable
Servicing Advance, shall be evidenced by an Officer's Certificate delivered
(i) to the Trustee and the Depositor, in the case of the Master Servicer, (ii)
to the Master Servicer and the Trustee in the case of the Special Servicer,
(iii) to the Depositor and the Master Servicer, in the case of the Trustee,
and (iv) and in each case, to the Series 2003-C4 Directing Certificateholder,
to the Class MM Directing Certificateholder and each Mayfair Mall Non-Trust
Companion Loan Holder or its designee (if the Mayfair Mall Mortgage Loan
Combination or any related REO Property is involved) and to any Requesting
Subordinate Certificateholder (at the expense of such Requesting Subordinate
Certificateholder). The Officer's Certificate shall set forth such
determination of nonrecoverability and the considerations of the Master
Servicer, the Special Servicer or the Trustee, as applicable, forming the
basis of such determination (which shall include but shall not be limited to
information, to the extent available, such as related income and expense
statements, rent rolls, occupancy status and property inspections, and shall
include an Appraisal (provided that if an Appraisal has been obtained within
the past 12 months, no new Appraisal is required) of the related Mortgaged
Property, the cost of which Appraisal shall be advanced by the Master Servicer
as a Nonrecoverable Servicing Advance). Such Officer's Certificate shall be
accompanied by the Appraisal and all other supporting documentation relevant
to the subject parties' nonrecoverability determination. The Trustee will be
entitled to conclusively rely on the Master Servicer's determination that a
Servicing Advance is nonrecoverable. The Master Servicer and the Trustee shall
be entitled to conclusively rely on the Special Servicer's determination that
a Servicing Advance is a Nonrecoverable Servicing Advance.

                                     -46-
<PAGE>

          "Non-Registered Certificate": Any Certificate that has not been
subject to registration under the Securities Act. As of the Closing Date, the
Class A-SP, Class A-X, Class A-1-A, Class MM, Class F, Class G, Class H, Class
J, Class K, Class L, Class M, Class N, Class O, Class P, Class R and Class V
Certificates will constitute Non-Registered Certificates.

          "Non-Trust Companion Loan": Any Mayfair Mall Non-Trust Companion
Loan or B-Note Non-Trust Companion Loan.

          "Non-Trust Companion Loan Holder": Any Mayfair Mall Non-Trust
Companion Loan Holder or B-Note Non-Trust Companion Loan Holder.

          "Non-United States Tax Person": Any Person other than a United
States Tax Person.

          "Note": The original executed note (or, if applicable, multiple
notes collectively) evidencing the indebtedness of a Borrower under a Mortgage
Loan, together with any rider, addendum or amendment thereto.

          "NRSRO": Nationally recognized statistical rating organization as
the term is used in federal securities laws.

          "Officer's Certificate": A certificate signed by a Servicing Officer
of the Master Servicer or the Special Servicer or a Responsible Officer of the
Trustee, as the case may be.

          "Opinion of Counsel": A written opinion of counsel, who may be
salaried counsel for the Depositor, the Master Servicer or the Special
Servicer, acceptable in form and delivered to the Trustee, except that any
opinion of counsel relating to (a) the qualification of any REMIC Pool as a
REMIC, (b) compliance with the REMIC Provisions or (c) the resignation of the
Depositor, the Master Servicer or the Special Servicer pursuant to Section
6.04 must be an opinion of counsel that is Independent of the Depositor, the
Master Servicer or the Special Servicer, as applicable.

          "Original Column Trust Mortgage Loans": As defined in the
Preliminary Statement to this Agreement.

          "Original KeyBank Trust Mortgage Loans": As defined in the
Preliminary Statement to this Agreement.

          "Original Trust Mortgage Loans": As defined in the Preliminary
Statement to this Agreement.

          "Original Value": The Appraised Value of a Mortgaged Property based
upon the Appraisal conducted in connection with the origination of the related
Trust Mortgage Loan.

          "Origination Required Insurance Amounts": As defined in Section
3.07(h).

          "OTS": The Office of Thrift Supervision or any successor thereto.

          "Ownership Interest": In the case of 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.

                                     -47-
<PAGE>

          "P&I Advance": As to any Trust Mortgage Loan or REO Trust Mortgage
Loan, any advance made by the Master Servicer or the Trustee, as applicable,
pursuant to Section 4.03 or Section 7.05.

          "Pass-Through Rate": The per annum rate at which interest accrues in
respect of any Class of REMIC III Regular Interest Certificates during any
Interest Accrual Period, as set forth in or otherwise calculated in accordance
with Section 2.08(f); provided that, for reporting purposes, the Pass-Through
Rate of the Class A-SP Certificates shall be calculated in accordance with the
Prospectus Supplement.

          "Penalty Charges": The Default Interest and/or late payment charges
that are paid or payable, as the context may require, in respect of any
Mortgage Loan or REO Mortgage Loan.

          "Percentage Interest": With respect to: (a) any REMIC III Regular
Interest Certificate, the portion of the relevant Class evidenced by such
Certificate, expressed as a percentage, the numerator of which is the
Certificate Principal Balance or Certificate Notional Amount, as the case may
be, of such Certificate as of the Closing Date, as specified on the face
thereof, and the denominator of which is the Class Principal Balance or Class
Notional Amount, as the case may be, of the relevant Class as of the Closing
Date; and (b) a Class R or Class V Certificate, the percentage interest in
distributions to be made with respect to the relevant Class, as stated on the
face of such Certificate.

          "Performance Certification": As defined in Section 3.26(b).

          "Performing Mortgage Loan": Any Performing Trust Mortgage Loan or,
to the extent serviced hereunder, any Non-Trust Companion Loan as to which the
related Trust Mortgage Loan is a Performing Trust Mortgage Loan.

          "Performing Party": As defined in Section 3.26(b).

          "Performing Trust Mortgage Loan": As of any date of determination,
any Trust Mortgage Loan as to which no Servicing Transfer Event then exists.

          "Permitted Investments": Any one or more of the following
obligations or securities, regardless whether issued by the Depositor, the
Master Servicer, the Special Servicer, the Trustee or any of their respective
Affiliates and having the required ratings, if any, provided for in this
definition:

          (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; provided that such obligations have a remaining term
     to maturity of one year or less from the date of acquisition and which
     are backed by the full faith and credit of the United States of America;
     provided, further, that any obligation of, or guarantee by, FNMA or
     FHLMC, other than an unsecured senior debt obligation of FNMA or FHLMC,
     shall be a Permitted Investment only if such investment would not result
     in the downgrading, withdrawal or qualification of the then-current
     rating assigned by each Rating Agency to any Certificate as confirmed in
     writing;

          (ii)   time deposits, unsecured certificates of deposit or bankers'
     acceptances that mature in one year or less after the date of issuance
     and are issued or held by any depository

                                     -48-
<PAGE>

     institution or trust company 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 in the highest
     short-term debt rating category of each Rating Agency or such other
     ratings as will not result in the downgrading, withdrawal or
     qualification of the then-current rating assigned by each Rating Agency
     to any Certificate, as confirmed in writing by such Rating Agency;

          (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;

          (iv)   debt obligations maturing in one year or less from the date of
     acquisition 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 have (A) ratings in the highest
     long-term unsecured debt rating category of each Rating Agency or (B)
     such other ratings (as confirmed by the applicable Rating Agency in
     writing) as will not result in a downgrade, qualification or withdrawal
     of the then-current rating of the Certificates that are currently being
     rated by such Rating Agency; provided, however, that securities issued by
     any particular corporation will not be Permitted Investments to the
     extent that investment therein will cause the then outstanding principal
     amount of securities issued by such corporation and held in the accounts
     established hereunder to exceed 10% of the sum of the aggregate principal
     balance and the aggregate principal amount of all Permitted Investments
     in such accounts;

          (v)    commercial paper (including both non-interest-bearing discount
     obligations and interest-bearing obligations) payable on demand or on a
     specified date maturing in one year or less after the date of issuance
     thereof and which is rated in the highest short-term unsecured debt
     rating category of each Rating Agency;

          (vi)   units of investment funds that maintain a constant net asset
     value and money market funds having the highest rating from each Rating
     Agency for money market funds; and

          (vii)  any other demand, money market or time deposit, obligation,
     security or investment, with respect to which each Rating Agency shall
     have confirmed in writing that such investment will not result in a
     downgrade, qualification or withdrawal of the then-current rating of the
     Certificates that are currently being rated by such Rating Agency;

provided that such instrument or security qualifies as a "cashflow investment"
pursuant to Section 860G(a)(6) of the Code; and provided, further, that in
each case, if the instrument or security is rated by S&P, (a) it shall not
have an "r" highlighter affixed to its rating from S&P, (b) it shall have a
predetermined fixed dollar of principal due at maturity that cannot vary or
change and (c) any such investment that provides for a variable rate of
interest must have an interest rate that is tied to a single interest rate
index plus a fixed spread, if any, and move proportionately with such index.

          "Permitted Mezzanine Loan Holder": With respect to any Mezzanine
Loan, the related Mortgage Loan Seller, any Institutional Lender/Owner or any
other Mezzanine Loan Holder with respect to which each Rating Agency has
confirmed in writing to the Special Servicer and the Trustee

                                     -49-
<PAGE>

that the holding of such Mezzanine Loan by such Person would not cause a
qualification, downgrade or withdrawal of any of such Rating Agency's
then-current ratings on the Certificates.

          "Permitted Transferee": Any Transferee of a Class R Certificate
other than a Disqualified Organization, a Non-United States Tax Person or a
foreign permanent establishment or fixed base (each within the meaning of the
applicable income tax treaty) of a United States Tax Person; provided,
however, that if a Transferee is classified as a partnership under the Code,
such Transferee shall only be a Permitted Transferee if all of its beneficial
owners are United States Tax Persons and the governing documents of the
Transferee prohibit a transfer of any interest in the Transferee to any
Non-United States Tax Person.

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

          "Phase I Environmental Assessment": A "Phase I assessment" as
described in and meeting the criteria of the American Society for Testing and
Materials, Designation E-1527.

          "Plan": Any of those retirement plans and other employee benefit
plans, 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 insurance company general
accounts, that are subject to ERISA or the Code.

          "Plurality Class R Certificateholder": As to any taxable year of any
REMIC Pool, the Holder of Certificates evidencing the largest Percentage
Interest in the Class R Certificates.

          "Prepayment Assumption": For purposes of determining the accrual of
original issue discount, market discount and premium, if any, on the Trust
Mortgage Loans, the REMIC I Regular Interests, the REMIC II Regular Interests,
the Group A-SP REMIC III Regular Interests, the Group A-X REMIC III Regular
Interests and the Certificates for federal income tax purposes, the
assumptions that each ARD Trust Mortgage Loan is paid in its entirety on its
Anticipated Repayment Date and that no Trust Mortgage Loan is otherwise
voluntarily prepaid prior to its Maturity Date.

          "Prepayment Date": With respect to any Principal Prepayment, the
date on which such Principal Prepayment is to be made.

          "Prepayment Interest Excess": With respect to any Distribution Date,
for each Trust Mortgage Loan that was subject to Principal Prepayment in full
or in part, or as to which Insurance and Condemnation Proceeds were received
by the Master Servicer or Special Servicer for application to such Trust
Mortgage Loan, in each case after the Due Date in the month of such
Distribution Date and on or prior to the related Determination Date, the
amount of interest accrued at the related Net Mortgage Rate for such Trust
Mortgage Loan, on the amount of such Principal Prepayment or, insofar as they
represent an early collection of principal, such Insurance and Condemnation
Proceeds (net of any portion of such interest that represents Penalty Charges
or Excess Interest) after the end of the Mortgage Interest Accrual Period
relating to such Due Date and accruing in the manner set forth in the Mortgage
Loan Documents relating to such Trust Mortgage Loan, to the extent such
interest is collected by the Master Servicer or the Special Servicer.

                                     -50-
<PAGE>

          "Prepayment Interest Shortfall": With respect to any Distribution
Date, for each Trust Mortgage Loan that was subject to a Principal Prepayment
in full or in part, or as to which Insurance and Condemnation Proceeds were
received by the Master Servicer or Special Servicer for application to such
Trust Mortgage Loan, in each case after the Determination Date in the calendar
month preceding such Distribution Date but prior to the Due Date in the
related Collection Period to the extent not collected from the borrower, the
amount of uncollected interest that would have accrued at the Net Mortgage
Rate for such Trust Mortgage Loan, plus the Trustee Fee Rate, on the amount of
such Principal Prepayment or, insofar as they represent an early collection of
principal, such Insurance and Condemnation Proceeds (net of any portion of
such interest that represents Penalty Charges or Excess Interest) during the
period commencing on the date as of which such Principal Prepayment or
Insurance and Condemnation Proceeds were applied to the unpaid principal
balance of the Trust Mortgage Loan and ending on (and including) the day
immediately preceding such Due Date.

          "Prime Rate": The "prime rate" published in the "Money Rates"
section of The Wall Street Journal, as such "prime rate" may change from time
to time. If The Wall Street Journal ceases to publish the "prime rate", then
the Trustee, in its sole discretion, shall select an equivalent publication
that publishes such "prime rate"; and if such "prime rate" is no longer
generally published or is limited, regulated or administered by a governmental
or quasi-governmental body, then the Trustee shall select a comparable
interest rate index. In either case, such selection shall be made by the
Trustee in its sole discretion and the Trustee shall notify the Master
Servicer and the Special Servicer in writing of its selection.

          "Principal Balance Certificate": Any of the Class A-1, Class A-2,
Class A-3, Class A-4, Class A-1-A, 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 P and Class MM Certificates.

          "Principal Prepayment": Any payment of principal made by the
Borrower on a Mortgage Loan that is received in advance of its scheduled Due
Date and that is not accompanied by an amount of interest (without regard to
any Yield Maintenance Charge and/or Excess Interest that may have been
collected) representing scheduled interest due on any date or dates in any
month or months subsequent to the month of prepayment; provided that
"Principal Prepayment" shall not include any such payment of principal made
out of Insurance and Condemnation Proceeds or Liquidation Proceeds.

          "Privileged Person": Any of the following: a party to this
Agreement, an Underwriter, a Mortgage Loan Seller, the Series 2003-C4
Directing Certificateholder, the Class MM Directing Certificateholder, a
Mayfair Mall Non-Trust Companion Loan Holder, a Rating Agency, a designee of
the Depositor, a Certificateholder, a Certificate Owner or, to the extent
identified as such by a Certificateholder or a Certificate Owner, a
prospective purchaser of a Certificate or any interest therein.

          "Proposed Plan": As defined in Section 3.17(a).

          "Prospectus": The Base Prospectus and the Prospectus Supplement,
together.

          "Prospectus Supplement": That certain prospectus supplement dated
September 11, 2003, relating to the Registered Certificates, that is a
supplement to the Base Prospectus.

          "PTCE": Prohibited Transaction Class Exemption.

                                     -51-
<PAGE>

          "PTE": Prohibited Transaction Exemption.

          "Purchase Price": With respect to any Trust Mortgage Loan to be
purchased by (a) a Mortgage Loan Seller pursuant to Section 7 of the related
Mortgage Loan Purchase Agreement or, in the case of a Column Trust Mortgage
Loan, by the Column Performance Guarantor, (b) by the Series 2003-C4 Directing
Certificateholder pursuant to Section 3.18(b), the Special Servicer pursuant
to or as contemplated by Section 3.18(c), or an assignee or Affiliate of
either thereof, in any case, pending determination of Fair Value, (c) the
Class MM Directing Certificateholder, the Series 2003-C4 Directing
Certificateholder or a Mayfair Mall Non-Trust Companion Loan Holder pursuant
to or as contemplated by Section 3.31, or (d) by the holders of more than 50%
of the Percentage Interests in the Controlling Class, the Special Servicer or
the Master Servicer pursuant to Section 9.01, a price equal to the sum of the
following:

          (i)  the outstanding principal balance of such Trust Mortgage Loan as
     of the date of purchase;

          (ii) all accrued and unpaid interest on such Trust Mortgage Loan
     (exclusive of Default Interest and Excess Interest, if any) to but not
     including the Due Date in the Collection Period of purchase (which
     includes unpaid Master Servicing Fees) and all related Special Servicing
     Fees accrued with respect to such Trust Mortgage Loan;

         (iii) all related unreimbursed Servicing Advances (or such Advances
     reimbursed by the Trust Fund) plus accrued and unpaid interest on related
     Advances at the Reimbursement Rate;

         (iv)  if such Trust Mortgage Loan is being repurchased by a Mortgage
     Loan Seller pursuant to Section 7 of the related Mortgage Loan Purchase
     Agreement or, in the case of a Column Trust Mortgage Loan, by the Column
     Performance Guarantor following the expiration of the applicable cure
     period (as it may be extended), the amount of the Liquidation Fee payable
     to the Special Servicer; and

          (v)  if such Trust Mortgage Loan is being purchased by a Mortgage
     Loan Seller pursuant to Section 7 of the related Mortgage Loan Purchase
     Agreement or, in the case of a Column Trust Mortgage Loan, by the Column
     Performance Guarantor, all reasonable out-of-pocket expenses reasonably
     incurred or to be incurred by the Master Servicer, the Special Servicer,
     the Depositor and the Trustee in respect of the Breach or Defect giving
     rise to the repurchase obligation, including any expenses arising out of
     the enforcement of the repurchase obligation and any realized losses and
     Trust Fund expenses incurred prior to such purchase date with respect to
     such Trust Mortgage Loan.

With respect to any Defaulted Trust Mortgage Loan to be purchased by the
Series 2003-C4 Directing Certificateholder (or any assignee thereof) or the
Special Servicer (or any Affiliate thereof) pursuant to Section 3.18(b) or
3.18(c) following determination of Fair Value, the Purchase Price will equal
the Fair Value of such Defaulted Trust Mortgage Loan. With respect to any REO
Property to be sold pursuant to Section 3.18(e), the Purchase Price will equal
the amount calculated in accordance with the second preceding sentence in
respect of the related REO Trust Mortgage Loan (or, if such REO Property
relates to the Mayfair Mall Mortgage Loan Combination, in respect of all of
the related REO Mortgage Loans and treating the Mayfair Mall Non-Trust
Companion Loans as if they were Trust Mortgage Loans).

                                     -52-
<PAGE>

          "Qualified Appraiser": In connection with the appraisal of any
Mortgaged Property or REO Property, an Independent MAI-designated appraiser
with at least five years of experience in respect of the relevant geographic
location and property type.

          "Qualified Institutional Buyer" or "QIB": A "qualified institutional
buyer" within the meaning of Rule 144A under the Securities Act.

          "Qualified Insurer": (i) With respect to any Mortgage Loan,
Mortgaged Property or REO Property, an insurance company or security or
bonding company qualified to write the related Insurance Policy in the
relevant jurisdiction and that has a claims paying ability that is rated (or
is guaranteed or backed in writing by an entity with long-term unsecured debt
that is rated) at least "A" by S&P and "A2" by Moody's if then rated by
Moody's, (ii) with respect to the fidelity bond and errors and omissions
Insurance Policy required to be maintained pursuant to Section 3.07(c), an
insurance company that has a claims paying ability that is rated (or is
guaranteed or backed in writing by an entity with long-term unsecured debt
that is rated) no lower than two ratings below the rating assigned to the then
highest rated outstanding Certificate, but in no event lower than "A3" by
Moody's if then rated by Moody's, "A-" by S&P or, in the case of clauses (i)
and (ii), such other rating as each Rating Agency shall have confirmed in
writing will not cause such Rating Agency to downgrade, qualify or withdraw
the then-current rating assigned to any of the Certificates that are then
currently being rated by such Rating Agency.

          "Qualified Mortgage": A qualified mortgage within the meaning of
Section 860G(a)(3) of the Code.

          "Qualified Substitute Trust Mortgage Loan": A mortgage loan which
must, on the date of substitution: (i) have an outstanding principal balance,
after application of all scheduled payments of principal and interest due
during or prior to the month of substitution, not in excess of the Stated
Principal Balance of the Deleted Trust Mortgage Loan as of the Due Date in the
calendar month during which the substitution occurs; (ii) have a Mortgage Rate
not less than the Mortgage Rate of the Deleted Trust Mortgage Loan; (iii) have
the same Due Date as the Deleted Trust Mortgage Loan; (iv) accrue interest on
the same Interest Accrual Basis as the Deleted Trust Mortgage Loan; (v) have a
remaining term to stated maturity not greater than, and not more than two
years less than, the remaining term to stated maturity of the Deleted Trust
Mortgage Loan; (vi) have an original Loan-to-Value Ratio not higher than that
of the Deleted Trust Mortgage Loan and a current Loan-to-Value Ratio not
higher than the then current Loan-to-Value Ratio of the Deleted Trust Mortgage
Loan; (vii) materially comply as of the date of substitution with all of the
representations and warranties set forth in the applicable Mortgage Loan
Purchase Agreement; (viii) have an Environmental Assessment that indicates no
material adverse environmental conditions with respect to the related
Mortgaged Property and which will be delivered as a part of the related
Mortgage File; (ix) have an original Debt Service Coverage Ratio of not less
than the original Debt Service Coverage Ratio of the Deleted Trust Mortgage
Loan and a current Debt Service Coverage Ratio of not less than the
then-current Debt Service Coverage Ratio of the Deleted Trust Mortgage Loan;
(x) be determined by an Opinion of Counsel (at the applicable Mortgage Loan
Seller's expense) to be a "qualified replacement mortgage" within the meaning
of Section 860G(a)(4) of the Code; (xi) not have a maturity date after the
date two years prior to the Rated Final Distribution Date; (xii) not be
substituted for a Deleted Trust Mortgage Loan unless the Trustee has received
prior confirmation in writing by each Rating Agency that such substitution
will not result in the withdrawal, downgrade, or qualification of the rating
assigned by such Rating Agency to any Class of Certificates

                                     -53-
<PAGE>

then rated by such Rating Agency (the cost, if any, of obtaining such
confirmation to be paid by the applicable Mortgage Loan Seller); (xiii)
have been approved by the Series 2003-C4 Directing Certificateholder in its
sole discretion; (xiv) prohibit defeasance within two years of the Closing
Date and (xv) not be substituted for a Deleted Trust Mortgage Loan if it would
result in the termination of the REMIC status of any REMIC Pool established
under this Agreement or the imposition of tax on any of such REMIC Pool other
than a tax on income expressly permitted or contemplated to be received by the
terms of this Agreement, as determined by an Opinion of Counsel. In the event
that one or more mortgage loans are substituted for one or more Deleted Trust
Mortgage Loans, then the amounts described in clause (i) shall be determined
on the basis of aggregate principal balances and the rates described in clause
(ii) above and the remaining term to stated maturity referred to in clause (v)
above shall be determined on a weighted average basis; provided that no
interest rate on any individual Qualified Substitute Trust Mortgage Loan, less
the related Master Servicing Fee Rate and the Trustee Fee Rate, may be less
than the lowest fixed Pass-Through Rate on any Class of Principal Balance
Certificates. When a Qualified Substitute Trust Mortgage Loan is substituted
for a Deleted Trust Mortgage Loan, the applicable Mortgage Loan Seller shall
certify that the Trust Mortgage Loan meets all of the requirements of the
above definition and shall send such certification to the Trustee.

          "Rated Certificate": Any of the Certificates to which a rating has
been assigned by either Rating Agency at the request of the Depositor.

          "Rated Final Distribution Date": The Distribution Date in August
2036.

          "Rating Agency": Each of S&P and Moody's.

          "Realized Loss": With respect to:

          (1) each defaulted Trust Mortgage Loan as to which a Final Recovery
     Determination has been made, or with respect to any successor REO Trust
     Mortgage Loan as to which a Final Recovery Determination has been made as
     to the related REO Property, an amount (not less than zero) equal to (a)
     the unpaid principal balance of such Trust Mortgage Loan or REO Trust
     Mortgage Loan, as the case may be, as of the commencement of the
     Collection Period in which the Final Recovery Determination was made,
     plus (b) without taking into account the amount described in subclause
     (1)(c) of this definition, all unpaid interest accrued in respect of such
     Trust Mortgage Loan or REO Trust Mortgage Loan, as the case may be, to
     but not including the related Due Date in the Collection Period in which
     the Final Recovery Determination was made, exclusive, however, of any
     portion of such unpaid interest that constitutes Default Interest or, in
     the case of an ARD Trust Mortgage Loan after its Anticipated Repayment
     Date, Excess Interest, minus (c) all payments and proceeds, if any,
     received in respect of such Trust Mortgage Loan or REO Trust Mortgage
     Loan, as the case may be, during the Collection Period in which such
     Final Recovery Determination was made that are applied as a recovery of
     principal of, or interest on, such Trust Mortgage Loan or REO Trust
     Mortgage Loan, as the case may be;

          (2) each defaulted Trust Mortgage Loan as to which any portion of
     the principal or past due interest payable thereunder was canceled in
     connection with a bankruptcy, insolvency or similar proceeding involving
     the related Borrower or a modification, waiver or amendment of such Trust
     Mortgage Loan granted or agreed to by the Master Servicer or the Special
     Servicer pursuant to Section 3.20, the amount of such principal or past
     due interest (other than any

                                     -54-
<PAGE>

     Default Interest and, in the case of an ARD Trust Mortgage Loan
     after its Anticipated Repayment Date, Excess Interest) so canceled; and

          (3) each defaulted Trust Mortgage Loan as to which the Mortgage Rate
     thereon has been permanently reduced and not recaptured for any period in
     connection with a bankruptcy, insolvency or similar proceeding involving
     the related Borrower or a modification, waiver or amendment of such Trust
     Mortgage Loan granted or agreed to by the Master Servicer or the Special
     Servicer pursuant to Section 3.20, the amount of any consequent reduction
     in the interest portion of each successive Monthly Payment due thereon
     (each such Realized Loss to be deemed to have been incurred on the Due
     Date for each affected Monthly Payment).

          "Record Date": With respect to any Distribution Date, the last
Business Day of the month immediately preceding the month in which such
Distribution Date occurs.

          "Reference Rate": With respect to any Distribution Date from and
including the October 2003 Distribution Date to and including the September
2010 Distribution Date, the corresponding rate per annum set forth on Exhibit
L hereto.

          "Registered Certificate": Any Certificate that has been subject to
registration under the Securities Act. As of the Closing Date, the Class A-1,
Class A-2, Class A-3, Class A-4, Class B, Class C, Class D and Class E
Certificates constitute Registered Certificates.

          "Regulation S": Regulation S under the Securities Act.

          "Regulation S Global Certificate": With respect to any Class of
Book-Entry Non-Registered Certificates offered and sold outside of the United
States in reliance on Regulation S, a single global Certificate, or multiple
global Certificates collectively, in definitive, fully registered form without
interest coupon, each of which Certificates bears a Regulation S Legend.

          "Regulation S Legend": With respect to any Class of Book-Entry
Non-Registered Certificates offered and sold outside the United States in
reliance on Regulation S, a legend generally to the effect that such
Certificates may not be offered, sold, pledged or otherwise transferred in the
United States or to a United States Securities Person prior to the Release
Date except pursuant to an exemption from the registration requirements of the
Securities Act.

          "Reimbursement Rate": The rate per annum applicable to the accrual
of interest on Servicing Advances in accordance with Section 3.03(d) and P&I
Advances in accordance with Section 4.03(d), which rate per annum shall equal
the Prime Rate.

          "Release Date": With respect to any Class of Non-Registered
Certificates (other than the Class R and Class V Certificates), the date that
is 40 days following the later of (i) the commencement of the offering of such
Non-Registered Certificates to Persons other than distributors in reliance
upon Regulation S under the Securities Act and (ii) the date of closing of
such offering.

          "REMIC": A "real estate mortgage investment conduit" as defined in
Section 860D of the Code.

          "REMIC I": The segregated pool of assets designated as such in
Section 2.04(a)

                                     -55-
<PAGE>

          "REMIC I Regular Interest": Any of the separate non-certificated
beneficial ownership interests in REMIC I issued hereunder and, in each such
case, designated as a "regular interest" (within the meaning of Section
860G(a)(1) of the Code) in REMIC I. The REMIC I Regular Interests have the
designations and terms provided for in Section 2.04.

          "REMIC I Regular Interest MM-1": The REMIC I Regular Interest that
bears the alphanumeric designation "MM-1".

          "REMIC I Regular Interest MM-2": The REMIC I Regular Interest that
bears the alphanumeric designation "MM-2".

          "REMIC I Remittance Rate": The per annum rate at which interest
accrues in respect of any REMIC I Regular Interest during any Interest Accrual
Period, as set forth in or otherwise calculated in accordance with Section
2.04(f).

          "REMIC I Residual Interest": The sole uncertificated "residual
interest" (within the meaning of Section 860G(a)(2) of the Code) in REMIC I
issued pursuant to this Agreement.

          "REMIC II": The segregated pool of assets designated as such in
Section 2.06(a).

          "REMIC II Regular Interest": Any of the separate non-certificated
beneficial ownership interests in REMIC II issued hereunder and, in each such
case, designated as a "regular interest" (within the meaning of Section
860G(a)(1) of the Code) in REMIC II. The REMIC II Regular Interests have the
designations and terms provided for in Section 2.06.

          "REMIC II Regular Interest A-1-1": The REMIC II Regular Interest
that bears the alphanumeric designation "A-1-1".

          "REMIC II Regular Interest A-1-2": The REMIC II Regular Interest
that bears the alphanumeric designation "A-1-2".

          "REMIC II Regular Interest A-1-3": The REMIC II Regular Interest
that bears the alphanumeric designation "A-1-3".

          "REMIC II Regular Interest A-1-A-1": The REMIC II Regular Interest
that bears the alphanumeric designation "A-1-A-1".

          "REMIC II Regular Interest A-1-A-2": The REMIC II Regular Interest
that bears the alphanumeric designation "A-1-A-2".

          "REMIC II Regular Interest A-1-A-3": The REMIC II Regular Interest
that bears the alphanumeric designation "A-1-A-3".

          "REMIC II Regular Interest A-1-A-4": The REMIC II Regular Interest
that bears the alphanumeric designation "A-1-A-4".

          "REMIC II Regular Interest A-1-A-5": The REMIC II Regular Interest
that bears the alphanumeric designation "A-1-A-5".

                                     -56-
<PAGE>

          "REMIC II Regular Interest A-1-A-6": The REMIC II Regular Interest
that bears the alphanumeric designation "A-1-A-6".

          "REMIC II Regular Interest A-1-A-7": The REMIC II Regular Interest
that bears the alphanumeric designation "A-1-A-7".

          "REMIC II Regular Interest A-1-A-8": The REMIC II Regular Interest
that bears the alphanumeric designation "A-1-A-8".

          "REMIC II Regular Interest A-2-1": The REMIC II Regular Interest
that bears the alphanumeric designation "A-2-1".

          "REMIC II Regular Interest A-2-2": The REMIC II Regular Interest
that bears the alphanumeric designation "A-2-2".

          "REMIC II Regular Interest A-2-3": The REMIC II Regular Interest
that bears the alphanumeric designation "A-2-3".

          "REMIC II Regular Interest A-3": The REMIC II Regular Interest that
bears the alphanumeric designation "A-3".

          "REMIC II Regular Interest A-4-1": The REMIC II Regular Interest
that bears the alphanumeric designation "A-4-1".

          "REMIC II Regular Interest A-4-2": The REMIC II Regular Interest
that bears the alphanumeric designation "A-4-2".

          "REMIC II Regular Interest A-4-3": The REMIC II Regular Interest
that bears the alphanumeric designation "A-4-3".

          "REMIC II Regular Interest A-4-4": The REMIC II Regular Interest
that bears the alphanumeric designation "A-4-4".

          "REMIC II Regular Interest B": The REMIC II Regular Interest that
bears the alphabetic designation "B".

          "REMIC II Regular Interest C": The REMIC II Regular Interest that
bears the alphabetic designation "C".

          "REMIC II Regular Interest D": The REMIC II Regular Interest that
bears the alphabetic designation "D".

          "REMIC II Regular Interest E": The REMIC II Regular Interest that
bears the alphabetic designation "E".

          "REMIC II Regular Interest F": The REMIC II Regular Interest that
bears the alphanumeric designation "F".

                                     -57-
<PAGE>

          "REMIC II Regular Interest G": The REMIC II Regular Interest that
bears the alphabetic designation "G".

          "REMIC II Regular Interest H": The REMIC II Regular Interest that
bears the alphabetic designation "H".

          "REMIC II Regular Interest J": The REMIC II Regular Interest that
bears the alphabetic designation "J".

          "REMIC II Regular Interest K": The REMIC II Regular Interest that
bears the alphabetic designation "K".

          "REMIC II Regular Interest L": The REMIC II Regular Interest that
bears the alphabetic designation "L".

          "REMIC II Regular Interest M": The REMIC II Regular Interest that
bears the alphabetic designation "M".

          "REMIC II Regular Interest MM": The REMIC II Regular Interest that
bears the alphabetic designation "MM".

          "REMIC II Regular Interest N" : The REMIC II Regular Interest that
bears the alphabetic designation "N".

          "REMIC II Regular Interest O": The REMIC II Regular Interest that
bears the alphabetic designation "O".

          "REMIC II Regular Interest P": The REMIC II Regular Interest that
bears the alphabetic designation "P".

          "REMIC II Remittance Rate": The per annum rate at which interest
accrues in respect of any REMIC II Regular Interest during any Interest
Accrual Period, as set forth in or otherwise calculated in accordance with
Section 2.06(f).

          "REMIC II Residual Interest": The sole uncertificated "residual
interest" (within the meaning of Section 860G(a)(2) of the Code) in REMIC II
issued pursuant to this Agreement.

          "REMIC III": The segregated pool of assets designated as such in
Section 2.08(a).

          "REMIC III Regular Interest A-SP-A-1-2": The "regular interest"
(within the meaning of Section 860G(a)(1) of the Code) in REMIC III that bears
the alphanumeric designation "A-SP-A-1-2".

          "REMIC III Regular Interest A-SP-A-1-3": The "regular interest"
(within the meaning of Section 860G(a)(1) of the Code) in REMIC III that bears
the alphanumeric designation "A-SP-A-1-3".

          "REMIC III Regular Interest A-SP-A-1-A-2": The "regular interest"
(within the meaning of Section 860G(a)(1) of the Code) in REMIC III that bears
the alphanumeric designation "A-SP-A-1-A-2".

                                     -58-
<PAGE>

          "REMIC III Regular Interest A-SP-A-1-A-3": The "regular interest"
(within the meaning of Section 860G(a)(1) of the Code) in REMIC III that bears
the alphanumeric designation "A-SP-A-1-A-3".

          "REMIC III Regular Interest A-SP-A-1-A-4": The "regular interest"
(within the meaning of Section 860G(a)(1) of the Code) in REMIC III that bears
the alphanumeric designation "A-SP-A-1-A-4".

          "REMIC III Regular Interest A-SP-A-1-A-5": The "regular interest"
(within the meaning of Section 860G(a)(1) of the Code) in REMIC III that bears
the alphanumeric designation "A-SP-A-1-A-5".

          "REMIC III Regular Interest A-SP-A-1-A-6": The "regular interest"
(within the meaning of Section 860G(a)(1) of the Code) in REMIC III that bears
the alphanumeric designation "A-SP-A-1-A-6".

          "REMIC III Regular Interest A-SP-A-1-A-7": The "regular interest"
(within the meaning of Section 860G(a)(1) of the Code) in REMIC III that bears
the alphanumeric designation "A-SP-A-A-7".

          "REMIC III Regular Interest A-SP-A-1-A-8": The "regular interest"
(within the meaning of Section 860G(a)(1) of the Code) in REMIC III that bears
the alphanumeric designation "A-SP-A-1-8".

          "REMIC III Regular Interest A-SP-A-2-1": The "regular interest"
(within the meaning of Section 860G(a)(1) of the Code) in REMIC III that bears
the alphanumeric designation "A-SP-A-2-1".

          "REMIC III Regular Interest A-SP-A-2-2": The "regular interest"
(within the meaning of Section 860G(a)(1) of the Code) in REMIC III that bears
the alphanumeric designation "A-SP-A-2-2".

          "REMIC III Regular Interest A-SP-A-2-3": The "regular interest"
(within the meaning of Section 860G(a)(1) of the Code) in REMIC III that bears
the alphanumeric designation "A-SP-A-2-3".

          "REMIC III Regular Interest A-SP-A-3": The "regular interest"
(within the meaning of Section 860G(a)(1) of the Code) in REMIC III that bears
the alphanumeric designation "A-SP-A-3".

          "REMIC III Regular Interest A-SP-A-4-1": The "regular interest"
(within the meaning of Section 860G(a)(1) of the Code) in REMIC III that bears
the alphanumeric designation "A-SP-A-4-1".

          "REMIC II Regular Interest A-SP-A-4-2": The REMIC II Regular
Interest that bears the alphanumeric designation "A-SP-A-4-2".

          "REMIC II Regular Interest A-SP-A-4-3": The REMIC II Regular
Interest that bears the alphanumeric designation "A-SP-A-4-3".

          "REMIC II Regular Interest A-SP-A-4-4": The REMIC II Regular
Interest that bears the alphanumeric designation "A-SP-A-4-4".

                                     -59-
<PAGE>

          "REMIC III Regular Interest A-SP-B": The "regular interest" (within
the meaning of Section 860G(a)(1) of the Code) in REMIC III that bears the
alphabetic designation "A-SP-B".

          "REMIC III Regular Interest A-SP-C": The "regular interest" (within
the meaning of Section 860G(a)(1) of the Code) in REMIC III that bears the
alphabetic designation "A-SP-C".

          "REMIC III Regular Interest A-X-A-1-1": The "regular interest"
(within the meaning of Section 860G(a)(1) of the Code) in REMIC III that bears
the alphanumeric designation "A-X-A-1-1".

          "REMIC III Regular Interest A-X-A-1-2": The "regular interest"
(within the meaning of Section 860G(a)(1) of the Code) in REMIC III that bears
the alphanumeric designation "A-X-A-1-2".

          "REMIC III Regular Interest A-X-A-1-3": The "regular interest"
(within the meaning of Section 860G(a)(1) of the Code) in REMIC III that bears
the alphanumeric designation "A-X-A-1-3".

          "REMIC III Regular Interest A-X-A-1-A-1": The "regular interest"
(within the meaning of Section 860G(a)(1) of the Code) in REMIC III that bears
the alphanumeric designation "A-X-A-1-A-1".

          "REMIC III Regular Interest A-X-A-1-A-2": The "regular interest"
(within the meaning of Section 860G(a)(1) of the Code) in REMIC III that bears
the alphanumeric designation "A-X-A-1-A-2".

          "REMIC III Regular Interest A-X-A-1-A-3": The "regular interest"
(within the meaning of Section 860G(a)(1) of the Code) in REMIC III that bears
the alphanumeric designation "A-X-A-1-A-3".

          "REMIC III Regular Interest A-X-A-1-A-4": The "regular interest"
(within the meaning of Section 860G(a)(1) of the Code) in REMIC III that bears
the alphanumeric designation "A-X-A-1-A-4".

          "REMIC III Regular Interest A-X-A-1-A-5": The "regular interest"
(within the meaning of Section 860G(a)(1) of the Code) in REMIC III that bears
the alphanumeric designation "A-X-A-1-A-5".

          "REMIC III Regular Interest A-X-A-1-A-6": The "regular interest"
(within the meaning of Section 860G(a)(1) of the Code) in REMIC III that bears
the alphanumeric designation "A-X-A-1-A-6".

          "REMIC III Regular Interest A-X-A-1-A-7": The "regular interest"
(within the meaning of Section 860G(a)(1) of the Code) in REMIC III that bears
the alphanumeric designation "A-X-A-1-A-7".

          "REMIC III Regular Interest A-X-A-1-A-8": The "regular interest"
(within the meaning of Section 860G(a)(1) of the Code) in REMIC III that bears
the alphanumeric designation "A-X-A-1-A-8".

                                     -60-
<PAGE>

          "REMIC III Regular Interest A-X-A-2-1": The "regular interest"
(within the meaning of Section 860G(a)(1) of the Code) in REMIC III that bears
the alphanumeric designation "A-X-A-2-1".

          "REMIC III Regular Interest A-X-A-2-2": The "regular interest"
(within the meaning of Section 860G(a)(1) of the Code) in REMIC III that bears
the alphanumeric designation "A-X-A-2-2".

          "REMIC III Regular Interest A-X-A-2-3": The "regular interest"
(within the meaning of Section 860G(a)(1) of the Code) in REMIC III that bears
the alphanumeric designation "A-X-A-2-3".

          "REMIC III Regular Interest A-X-A-3": The "regular interest" (within
the meaning of Section 860G(a)(1) of the Code) in REMIC III that bears the
alphanumeric designation "A-X-A-3".

          "REMIC III Regular Interest A-X-A-4-1": The "regular interest"
(within the meaning of Section 860G(a)(1) of the Code) in REMIC III that bears
the alphanumeric designation "A-X-A-4-1".

          "REMIC III Regular Interest A-X-A-4-2": The "regular interest"
(within the meaning of Section 860G(a)(1) of the Code) in REMIC III that bears
the alphanumeric designation "A-X-A-4-2".

          "REMIC III Regular Interest A-X-A-4-3": The "regular interest"
(within the meaning of Section 860G(a)(1) of the Code) in REMIC III that bears
the alphanumeric designation "A-X-A-4-3".

          "REMIC III Regular Interest A-X-A-4-4": The "regular interest"
(within the meaning of Section 860G(a)(1) of the Code) in REMIC III that bears
the alphanumeric designation "A-X-A-4-4".

          "REMIC III Regular Interest A-X-B": The "regular interest" (within
the meaning of Section 860G(a)(1) of the Code) in REMIC III that bears the
alphabetic designation "A-X-B".

          "REMIC III Regular Interest A-X-C": The "regular interest" (within
the meaning of Section 860G(a)(1) of the Code) in REMIC III that bears the
alphabetic designation "A-X-C".

          "REMIC III Regular Interest A-X-D": The "regular interest" (within
the meaning of Section 860G(a)(1) of the Code) in REMIC III that bears the
alphabetic designation "A-X-D".

          "REMIC III Regular Interest A-X-E": The "regular interest" (within
the meaning of Section 860G(a)(1) of the Code) in REMIC III that bears the
alphabetic designation "A-X-E".

          "REMIC III Regular Interest A-X-F": The "regular interest" (within
the meaning of Section 860G(a)(1) of the Code) in REMIC III that bears the
alphanumeric designation "A-X-F".

          "REMIC III Regular Interest A-X-G": The "regular interest" (within
the meaning of Section 860G(a)(1) of the Code) in REMIC III that bears the
alphabetic designation "A-X-G".

          "REMIC III Regular Interest A-X-H": The "regular interest" (within
the meaning of Section 860G(a)(1) of the Code) in REMIC III that bears the
alphabetic designation "A-X-H".

          "REMIC III Regular Interest A-X-J": The "regular interest" (within
the meaning of Section 860G(a)(1) of the Code) in REMIC III that bears the
alphabetic designation "A-X-J".

                                     -61-
<PAGE>

          "REMIC III Regular Interest A-X-K": The "regular interest" (within
the meaning of Section 860G(a)(1) of the Code) in REMIC III that bears the
alphabetic designation "A-X-K".

          "REMIC III Regular Interest A-X-L": The "regular interest" (within
the meaning of Section 860G(a)(1) of the Code) in REMIC III that bears the
alphabetic designation "A-X-L".

          "REMIC III Regular Interest A-X-M": The "regular interest" (within
the meaning of Section 860G(a)(1) of the Code) in REMIC III that bears the
alphabetic designation "A-X-M".

          "REMIC III Regular Interest A-X-N": The "regular interest" (within
the meaning of Section 860G(a)(1) of the Code) in REMIC III that bears the
alphabetic designation "A-X-N".

          "REMIC III Regular Interest A-X-O": The "regular interest" (within
the meaning of Section 860G(a)(1) of the Code) in REMIC III that bears the
alphabetic designation "A-X-O".

          "REMIC III Regular Interest A-X-P": The "regular interest" (within
the meaning of Section 860G(a)(1) of the Code) in REMIC III that bears the
alphabetic designation "A-X-P".

          "REMIC III Regular Interest Certificate": Any of the Interest Only
Certificates and the Principal Balance Certificates.

          "REMIC III Remittance Rate": The per annum rate at which interest
accrues in respect of any Group A-SP REMIC III Regular Interest or Group A-X
REMIC III Regular Interest during any Interest Accrual Period, as set forth in
or otherwise calculated in accordance with Section 2.08(f).

          "REMIC III Residual Interest": The sole uncertificated "residual
interest" (within the meaning of Section 860G(a)(2) of the Code) in REMIC III
issued pursuant to this Agreement.

          "REMIC Pool": Any of REMIC I, REMIC II or REMIC III.

          "REMIC Provisions": 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 Subtitle A of the Code, and
related provisions, and proposed, temporary and final Treasury regulations and
any published rulings, notices and announcements promulgated thereunder, as
the foregoing may be in effect from time to time.

          "Rents from Real Property": With respect to any REO Property, gross
income of the character described in Section 856(d) of the Code.

          "REO Account": A segregated custodial account or accounts created
and maintained by the Special Servicer pursuant to Section 3.16 on behalf of
the Trustee in trust for the Certificateholders, which shall be entitled
"[name of Special Servicer], as Special Servicer, in trust for [name of
Trustee], as Trustee, for Holders of Credit Suisse First Boston Mortgage
Securities Corp. Commercial Mortgage Pass-Through Certificates, Series 2003-C4
REO Account". Any such account or accounts shall be an Eligible Account.

                                     -62-
<PAGE>

          "REO Acquisition": With respect to any Mortgage Loan, the
acquisition of the related Mortgaged Property as REO Property by the Special
Servicer on behalf of the Trust Fund and/or any affected Non-Trust Companion
Loan Holder.

          "REO Acquisition Date": The date of the Trust Fund's acquisition for
federal income tax purposes of any REO Property pursuant to Section 3.09.

          "REO Disposition": The sale or other disposition of the REO Property
pursuant to Section 3.18(e).

          "REO Extension": As defined in Section 3.16(a).

          "REO Mortgage Loan": Any REO Trust Mortgage Loan or REO Non-Trust
Companion Loan.

          "REO Non-Trust Companion Loan": Any of the three mortgage loans
deemed for purposes hereof to be outstanding (but outside the Mortgage Pool)
with respect to any REO Property in respect of the Mayfair Mall Mortgage Loan
Combination, or any mortgage loan deemed for purposes hereof to be outstanding
(but outside the Mortgage Pool) with respect to any REO Property in respect of
an A/B Mortgage Loan Combination. Any REO Non-Trust Companion Loan shall be
deemed to provide for monthly payments of principal and/or interest equal to
its Assumed Scheduled Payments and otherwise to have the same terms and
conditions as its predecessor Non-Trust Companion Loan (such terms and
conditions to be applied without regard to the default on such predecessor
Non-Trust Companion Loan or the subject REO Acquisition). Any REO Non-Trust
Companion Loan shall be deemed to have an initial unpaid principal balance
equal to the unpaid principal balance of its predecessor Non-Trust Companion
Loan as of the related REO Acquisition Date. All Monthly Payments and other
amounts due and owing, or deemed to be due and owing, in respect of any
Non-Trust Companion Loan as of the related REO Acquisition Date, shall be
deemed to continue to be due and owing in respect of the related REO Non-Trust
Companion Loan. In addition, all amounts payable or reimbursable to the Master
Servicer, the Special Servicer or the Trustee, as applicable, in respect of
any Non-Trust Companion Loan as of the related REO Acquisition Date, including
any unpaid or unreimbursed servicing compensation and Servicing Advances
(together with any related unpaid Advance Interest), shall continue to be
payable or reimbursable in the same priority and manner pursuant to Section
3.04 and related intercreditor, co-lender or similar agreement to the Master
Servicer, the Special Servicer or the Trustee, as the case may be, in respect
of the related REO Non-Trust Companion Loan.

          "REO Property": A Mortgaged Property acquired by the Special
Servicer on behalf of and in the name of the Trustee (or its nominee) for the
benefit of the Certificateholders and, if such property relates to a Mortgage
Loan Combination, each related Non-Trust Companion Loan Holder, through
foreclosure, acceptance of a deed in lieu of foreclosure or otherwise in
accordance with applicable law in connection with the default or imminent
default of a Trust Mortgage Loan.

          "REO Revenues": All income, rents and profits derived from the
ownership, operation or leasing of any REO Property.

          "REO Tax": As defined in Section 3.17(a).

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<PAGE>

          "REO Trust Mortgage Loan": The mortgage loan deemed to be
outstanding and part of the Mortgage Pool with respect to each REO Property.
Each REO Trust Mortgage Loan shall be deemed to be outstanding for so long as
the related REO Property remains part of the Trust Fund, and shall be deemed
to provide for Assumed Scheduled Payments on each Due Date therefor and
otherwise have the same terms and conditions as its predecessor Trust Mortgage
Loan, including, without limitation, with respect to the calculation of the
Mortgage Rate in effect from time to time (such terms and conditions to be
applied without regard to the default on such predecessor Trust Mortgage
Loan). Each REO Trust Mortgage Loan shall be deemed to have an initial
outstanding principal balance and Stated Principal Balance equal to the
outstanding principal balance and Stated Principal Balance, respectively, of
its predecessor Trust Mortgage Loan as of the related REO Acquisition Date.
All amounts due and owing in respect of the predecessor Trust Mortgage Loan as
of the related REO Acquisition Date, including accrued and unpaid interest,
shall continue to be due and owing in respect of an REO Trust Mortgage Loan.
All amounts payable or reimbursable to the Master Servicer, the Special
Servicer or the Trustee, as applicable, in respect of the predecessor Trust
Mortgage Loan as of the related REO Acquisition Date, including any unpaid
Special Servicing Fees and Master Servicing Fees and any unreimbursed
Advances, together with any interest accrued and payable to the Master
Servicer or the Trustee in respect of such Advances in accordance with Section
3.03(d) or Section 4.03(d), shall continue to be payable or reimbursable to
the Master Servicer or the Trustee in respect of an REO Trust Mortgage Loan.

          "Replacement Trust Mortgage Loan": Any Qualified Substitute Trust
Mortgage Loan that is substituted by a Mortgage Loan Seller or, in the case of
a Column Trust Mortgage Loan, the Column Performance Guarantor for a Defective
Trust Mortgage Loan as contemplated by Section 2.03.

          "Request for Release": A request signed by a Servicing Officer of,
as applicable, the Master Servicer in the form of Exhibit D-1 attached hereto
or the Special Servicer in the form of Exhibit D-2 attached hereto.

          "Requesting Subordinate Certificateholder": The Holder of any of the
Class L, Class M, Class N, Class O or Class P Certificates, that delivers
notice to the Trustee, the Master Servicer and the Special Servicer indicating
that such Holder is a "Requesting Subordinate Certificateholder".

          "Responsible Officer": When used with respect to the initial
Trustee, any Vice President, Assistant Vice President, corporate trust officer
or assistant corporate trust officer of the Trustee having direct
responsibility for the administration of this Agreement, and with respect to
any successor Trustee, any officer or assistant officer in the corporate trust
department of the Trustee or any other officer of the Trustee customarily
performing functions similar to those performed by any of the above designated
officers to whom a particular matter is referred by the Trustee because of
such officer's knowledge of and familiarity with the particular subject.

          "Restricted Master Servicer Reports": Collectively, to the extent
not filed with the Commission, the CMSA Servicer Watch List, the CMSA
Operating Statement Analysis Report, the CMSA NOI Adjustment Worksheet, CMSA
Financial File and the CMSA Comparative Financial Status Report.

          "Revised Rate": With respect to any ARD Mortgage Loan, the increased
interest rate after the related Anticipated Repayment Date (in the absence of
a default) for such ARD Mortgage Loan, as calculated and as set forth in the
related Mortgage Loan Documents.

                                     -64-
<PAGE>

          "Rule 144A Global Certificate": With respect to any Class of
Book-Entry Non-Registered Certificates, a single global Certificate, or
multiple global Certificates collectively, registered in the name of the
Depository or its nominee, in definitive, fully registered form without
interest coupons, each of which Certificates bears a Qualified Institutional
Buyer CUSIP number and does not bear a Regulation S Legend.

          "Sarbanes-Oxley Certification": As defined in Section 3.26(a).

          "Securities Act": The Securities Act of 1933, as amended.

          "Security Agreement": With respect to any Mortgage Loan, any
security agreement or equivalent instrument, whether contained in the related
Mortgage or executed separately, creating in favor of the holder of such
Mortgage a security interest in the personal property constituting security
for repayment of such Mortgage Loan.

          "Security Position Listing": A listing prepared by the Depository of
the holdings of Depository Participants with respect to the Certificates.

          "Senior Certificates": Collectively, the Class A-P&I Certificates
and the Interest Only Certificates.

          "Senior Principal Distribution Cross-Over Date": The first
Distribution Date as of which the aggregate Certificate Principal Balance of
the Class A-P&I Certificates outstanding immediately prior thereto equals or
exceeds the sum of (a) the aggregate Stated Principal Balance of the Mortgage
Pool (exclusive of the Uncertificated Principal Balance of REMIC I Regular
Interest MM-2) that will be outstanding immediately following such
Distribution Date, plus (b) the lesser of (i) the Net Total Principal
Distribution Amount for such Distribution Date and (ii) the portion of the Net
Available Distribution Amount for such Distribution Date that will remain
after all distributions of interest to be made on the Senior Certificates on
such Distribution Date pursuant to Section 4.01(a) have been so made.

          "Series 2003-C4 Directing Certificateholder": The particular Holder
(or, in the case of a Class of Book-Entry Certificates, the particular
Certificate Owner) of Certificates of the Controlling Class selected by the
Holders (or, in the case of a Class of Book-Entry Certificates, the
Certificate Owners) of Certificates representing more than 50% of the
Percentage Interests in the Controlling Class (which selection shall be
evidenced by notice delivered by the Series 2003-C4 Directing
Certificateholder to the parties hereto and the prior Series 2003-C4 Directing
Certificateholder, if any); provided, however, that until a Series 2003-C4
Directing Certificateholder is so selected or after receipt of a notice from
the Holders (or, in the case of a Class of Book-Entry Certificates, the
Certificate Owners) of Certificates representing more than 50% of the
Percentage Interests in the Controlling Class that a Series 2003-C4 Directing
Certificateholder is no longer designated, the particular Certificateholder
(or, in the case of a Class of Book-Entry Certificates, the particular
Certificate Owner) that beneficially owns Certificates of the Controlling
Class that represents the largest aggregate Percentage Interest in the
Controlling Class shall be the Series 2003-C4 Directing Certificateholder. The
initial Series 2003-C4 Directing Certificateholder will be Lennar Partners,
Inc. No appointment of any Person as a Series 2003-C4 Directing
Certificateholder shall be effective until such Person provides the Trustee,
the Master Servicer and the Special Servicer with written confirmation of its
acceptance of such appointment, an address and telecopy number for the
delivery of notices and other correspondence

                                     -65-
<PAGE>

and a list of officers or employees of such Person with whom the
parties to this Agreement may deal (including their names, titles, work
addresses and telecopy numbers). If no Person is appointed as Series 2003-C4
Directing Certificateholder, the Master Servicer, the Special Servicer and the
Trustee shall not be required to recognize the particular Certificateholder
(or, in the case of a Class of Book-Entry Certificates, the particular
Certificate Owner) that beneficially owns Certificates of the Controlling
Class that represent the largest aggregate Percentage Interest in the
Controlling Class as the Series 2003-C4 Directing Certificateholder until such
Certificateholder or Certificate Owner, as the case may be, provides an
address and telecopy number for the delivery of notices and other
correspondence and a list of officers or employees of such Person with whom
the parties to this Agreement may deal (including their names, titles, work
addresses and telecopy numbers).

          "Servicing Account": The account or accounts created and maintained
pursuant to Section 3.03.

          "Servicing Advances": All customary, reasonable and necessary
"out-of-pocket" costs and expenses, including attorneys' fees and expenses and
fees of real estate brokers, paid or to be paid, as the context requires, out
of its own funds, by the Master Servicer or the Special Servicer (or, if
applicable, the Trustee) in connection with the servicing of a Mortgage Loan
as to which a default, delinquency or other unanticipated event has occurred
or is reasonably foreseeable, or in connection with the administration of any
REO Property, including (1) any such costs and expenses associated with (a)
compliance with the obligations of the Master Servicer and/or the Special
Servicer set forth in Sections 2.03, 3.03(c) and 3.09, (b) the preservation,
insurance, restoration, protection and management of a Mortgaged Property,
including the cost of any "force placed" insurance policy purchased by the
Master Servicer or the Special Servicer to the extent such cost is allocable
to a particular Mortgaged Property that the Master Servicer or the Special
Servicer is required to cause to be insured pursuant to Section 3.07, (c)
obtaining any Insurance and Condemnation Proceeds or Liquidation Proceeds in
respect of any such Mortgage Loan or any REO Property, (d) any enforcement or
judicial proceedings with respect to any such Mortgage Loan, including
foreclosures and similar proceedings, (e) the operation, leasing, management,
maintenance and liquidation of any REO Property, (f) obtaining any Appraisal
required to be obtained hereunder, and (g) UCC filings (to the extent that the
costs thereof are not reimbursed by the related Borrower), (2) the reasonable
and direct out-of-pocket travel expenses incurred by the Special Servicer in
connection with performing inspections pursuant to Section 3.19, and (3) any
other expenditure which is expressly designated as a Servicing Advance herein;
provided that, notwithstanding anything to the contrary, "Servicing Advances"
shall not include (A) allocable overhead of the Master Servicer or Special
Servicer, such as costs for office space, office equipment, supplies and
related expenses, employee salaries and related expenses and similar internal
costs and expenses, (B) costs incurred by either such party or any Affiliate
thereof in connection with its purchase of any Mortgage Loan or REO Property
pursuant to or as contemplated by any provision of this Agreement or (C) costs
or expenses expressly required under this Agreement to be borne by the Master
Servicer or Special Servicer.

          "Servicing File": Any documents, certificates, opinions and reports
(other than documents required to be part of the related Mortgage File)
delivered by the related Borrower in connection with, or relating to the
origination and servicing of any Mortgage Loan or which are reasonably
required for the ongoing administration of the Mortgage Loan, including
appraisals, surveys, engineering reports, environmental reports, financial
statements, leases, rent rolls and tenant estoppels, together with copies of
documents required to be part of the related Mortgage File.

                                     -66-
<PAGE>

          "Servicing Officer": Any officer and/or employee of the Master
Servicer or the Special Servicer involved in, or responsible for, the
administration and servicing of the Mortgage Loans, whose name and specimen
signature appear on a list of servicing officers furnished by the Master
Servicer to the Trustee and the Depositor on the Closing Date as such list may
be amended from time to time thereafter.

          "Servicing Standard": As defined in Section 3.01(a).

          "Servicing Transfer Event": With respect to any Trust Mortgage Loan,
the occurrence of any of the following events:

          (i)    in the case of a Balloon Trust Mortgage Loan, a payment default
     shall have occurred on such Trust Mortgage Loan (and/or, in the case of
     the Mayfair Mall Trust Mortgage Loan, on any Mayfair Mall Non-Trust
     Companion Loan) at its Maturity Date, or if the Master Servicer has
     received evidence prior to its Maturity Date that the related Borrower
     has obtained a firm commitment to refinance such Trust Mortgage Loan
     (and, in the case of the Mayfair Mall Trust Mortgage Loan, each Mayfair
     Mall Non-Trust Companion Loan), such default continues unremedied
     (including, in the case of the Mayfair Mall Trust Mortgage Loan, by the
     Class MM Directing Certificateholder, the Series 2003-C4 Directing
     Certificateholder or any Mayfair Mall Non-Trust Companion Loan Holder)
     beyond the earlier of (A) 60 days after its Maturity Date or (B) the
     expiration of such commitment; or

          (ii)   any Monthly Payment (other than a Balloon Payment) on such
     Trust Mortgage Loan (and/or, in the case of the Mayfair Mall Trust
     Mortgage Loan, on any Mayfair Mall Non-Trust Companion Loan) is 60 days
     or more delinquent; or

          (iii)  the Master Servicer or the Special Servicer reasonably
     determines that a payment default with respect to such Trust Mortgage
     Loan (or in the case of the Mayfair Mall Trust Mortgage Loan, any Mayfair
     Mall Non-Trust Mortgage Loan), has occurred or is imminent and is not
     likely to be cured by the related Borrower (or, in the case of the
     Mayfair Mall Trust Mortgage Loan, by the Class MM Directing
     Certificateholder, the Series 2003-C4 Directing Certificateholder or any
     Mayfair Mall Non-Trust Companion Loan Holder) within 60 days (provided
     that any such determination by the Special Servicer that a payment
     default is imminent shall not be the basis for a Servicing Transfer Event
     unless the Series 2003-C4 Directing Certificateholder concurs); or

          (iv)   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
     or the appointment of a conservator or receiver or liquidator in any
     insolvency, readjustment of debt, marshaling of assets and liabilities or
     similar proceedings, or for the winding-up or liquidation of its affairs
     is entered against the related Borrower; provided that if such decree or
     order is discharged or stayed within 60 days of being entered, such Trust
     Mortgage Loan shall not be a Specially Serviced Trust Mortgage Loan (and
     no Special Servicing Fees, Workout Fees or Liquidation Fees will be
     payable with respect thereto); or

          (v)    the related Borrower shall file for or consent to the
     appointment of a conservator or receiver or liquidator in any insolvency,
     readjustment of debt, marshaling of assets and liabilities or similar
     proceedings of or relating to such Borrower or of or relating to all or
     substantially all of its property; or

                                     -67-
<PAGE>

          (vi)   the related Borrower shall admit in writing its inability to
     pay its debts generally as they become due, file a petition to take
     advantage of any applicable insolvency or reorganization statute, make an
     assignment for the benefit of its creditors, or voluntarily suspend
     payment of its obligations; or

          (vii)  the Master Servicer has received notice of the foreclosure or
     proposed foreclosure of any lien on the related Mortgaged Property; or

          (viii) any other default (exclusive of an Acceptable Insurance
     Default) that, in the reasonable judgment of the Master Servicer or the
     Special Servicer, has materially and adversely affected the value of such
     Trust Mortgage Loan (and/or, in the case of the Mayfair Mall Trust
     Mortgage Loan, the value of any Mayfair Mall Non-Trust Companion Loan)
     has occurred and has continued unremedied (including, in the case of the
     Mayfair Mall Trust Mortgage Loan by the Class MM Directing
     Certificateholder, the Series 2003-C4 Directing Certificateholder or any
     Mayfair Mall Non-Trust Companion Loan Holder) for 60 days (irrespective
     of any applicable grace period specified in the related Mortgage Loan
     Documents).

A Servicing Transfer Event with respect to any Trust Mortgage Loan shall cease
to exist:

          (w)    in the case of the circumstances described in clauses (i) and
     (ii) above, if and when the related Borrower has made three consecutive
     full and timely Monthly Payments under the terms of such Trust Mortgage
     Loan (and, in the case of the Mayfair Mall Trust Mortgage Loan, the terms
     of the respective Mayfair Mall Non-Trust Companion Loans) (as such terms
     may be changed or modified in connection with a bankruptcy or similar
     proceeding involving the related Borrower or by reason of a modification,
     waiver or amendment granted or agreed to by the Master Servicer or the
     Special Servicer pursuant to Section 3.20);

          (x)    in the case of the circumstances described in clauses (iii),
     (iv), (v) and (vi) above, if and when such circumstances cease to exist
     in the reasonable judgment of the applicable Special Servicer;

          (y)    in the case of the circumstances described in clause (vii)
     above, if any, when the proceedings are terminated; and

          (z)    in the case of the circumstances described in clause (viii)
     above, if and when such default is cured in the reasonable judgment of
     the applicable Special Servicer.

          "Significant Trust Mortgage Loan": At any time, (a) any Trust
Mortgage Loan (i) whose principal balance is $20,000,000 or more at such time
or (ii) that is (x) a Trust Mortgage Loan, (y) part of a group of Crossed
Trust Mortgage Loans or (z) part of a group of Trust Mortgage Loans made to
affiliated Borrowers that, in each case, in the aggregate, represents 5% or
more of the aggregate outstanding principal balance of the Mortgage Pool at
such time or (b) any one of the ten largest Trust Mortgage Loans (which for
the purposes of this definition shall include groups of Crossed Trust Mortgage
Loans and groups of Trust Mortgage Loans made to affiliated Borrowers) by
outstanding principal balance at such time.

          "Single-Purpose Entity" or "SPE": A person, other than an
individual, whose organizational documents provide (with such exceptions as
may be approved by the Master Servicer or

                                     -68-
<PAGE>

Special Servicer in their respective discretion, in each case in
accordance with the Servicing Standard) that it is formed solely for the
purpose of owning and pledging Defeasance Collateral relating to one or more
Defeasance Mortgage Loans; shall not engage in any business unrelated to such
Defeasance Collateral; shall not have any assets other than those related to
its interest in the Defeasance Collateral and may not incur any indebtedness
other than as required to assume the defeased obligations under the related
Note or Notes that have been defeased; shall maintain its own books, records
and accounts, in each case which are separate and apart from the books,
records and accounts of any other Person; shall hold regular meetings, as
appropriate, to conduct its business, and shall observe all entity level
formalities and record-keeping; shall conduct business in its own name and use
separate stationery, invoices and checks; may not guarantee or assume the
debts or obligations of any other Person; shall not commingle its assets or
funds with those of any other Person; shall pay its obligations and expenses
and the salaries of its own employees from its own funds and allocate and
charge reasonably and fairly any common employees or overhead shared with
Affiliates; shall prepare separate tax returns and financial statements or, if
part of a consolidated group, shall be shown as a separate member of such
group; shall transact business with Affiliates on an arm's-length basis
pursuant to written agreements; shall hold itself out as being a legal entity,
separate and apart from any other Person; if such entity is a limited
partnership, shall have as its only general partners, general partners which
are Single-Purpose Entities which are corporations; if such entity is a
corporation, at all relevant times, has and will have at least one Independent
Director; the board of directors of such entity shall not take any action
requiring the unanimous affirmative vote of 100% of the members of the board
of directors unless all of the directors, including without limitation all
Independent Directors, shall have participated in such vote; shall not fail to
correct any known misunderstanding regarding the separate identity of such
entity; if such entity is a limited liability company, shall have at least one
member that is a Single-Purpose Entity which is a corporation, and such
corporation shall be the managing member of such limited liability company;
shall hold its assets in its own name; except for the pledge of such
Defeasance Collateral, shall not pledge its assets for the benefit of any
other person or entity; shall not make loans or advances to any person or
entity; shall not identify its partners, members or shareholders, or any
affiliates of any of them as a division or part of it; if such entity is a
limited liability company, such entity shall dissolve only upon the bankruptcy
of the managing member, and such entity's articles of organization,
certificate of formation and/or operating agreement, as applicable, shall
contain such provision; if such entity is a limited liability company or
limited partnership, and such entity has one or more managing members or
general partners, as applicable, then such entity shall continue (and not
dissolve) for so long as a solvent managing member or general partner, as
applicable, exists and such entity's organizational documents shall contain
such provision. The SPE's organizational documents shall further prohibit any
dissolution and winding up and provide that any insolvency filing for such
entity requires the unanimous consent of all partners, directors (including
without limitation all Independent Directors) or members, as applicable, and
that such documents may not be amended with respect to the Single-Purpose
Entity requirements so long as any Certificates are outstanding.

          "S&P": Standard & Poor's Ratings Services, a division of The
McGraw-Hill Companies, Inc., and its successors in interest. If neither such
rating agency nor any successor remains in existence, "S&P" shall be deemed to
refer to such other nationally recognized statistical rating agency or other
comparable Person designated by the Depositor, notice of which designation
shall be given to the other parties hereto, and specific ratings of Standard &
Poor's Ratings Services, a division of The McGraw-Hill Companies, Inc. herein
referenced shall be deemed to refer to the equivalent ratings of the party so
designated. References herein to "applicable rating category" (other than such
references to

                                     -69-
<PAGE>

"highest applicable rating category") shall, in the case of S&P, be
deemed to refer to such applicable rating category of S&P, without regard to
any plus or minus or other comparable rating qualification.

          "Special Servicer": Lennar, in its capacity as special servicer
hereunder, or any successor special servicer appointed as herein provided.

          "Special Servicer Employees": As defined in Section 3.07(c).

          "Special Servicing Fee": With respect to each Specially Serviced
Trust Mortgage Loan and REO Trust Mortgage Loan, the fee payable to the
Special Servicer pursuant to the first paragraph of Section 3.11(b), and any
comparable fee payable to the Special Servicer with respect to each Mayfair
Mall Non-Trust Companion Loan (if it is a Specially Serviced Mortgage Loan) or
any successor REO Non-Trust Companion Loan with respect thereto pursuant to
the last paragraph of Section 3.11(b).

          "Special Servicing Fee Rate": With respect to each Specially
Serviced Trust Mortgage Loan, each Mayfair Mall Non-Trust Companion Loan (if
it is a Specially Serviced Mortgage Loan) and each REO Mortgage Loan, 0.25%
per annum.

          "Specially Designated Servicing Action": Any of the following
actions:

          (i)    any modification, waiver or amendment of a monetary term of a
     Mortgage Loan (other than an extension of the original maturity for six
     months or less following the original maturity date and a waiver of
     Penalty Charges) or a material non-monetary term (excluding any waiver of
     a "due-on-sale" or "due-on-encumbrance" clause, which is addressed in
     clause (viii) below);

          (ii)   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;

          (iii)  any proposed sale of an REO Property (other than in connection
     with the termination of the Trust Fund);

          (iv)   any determination to bring a Mortgaged Property securing a
     Specially Serviced Mortgaged Loan or an REO Property into compliance with
     applicable environmental laws or to otherwise address Hazardous Materials
     located at such Mortgaged Property or REO Property;

          (v)    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);

          (vi)   any acceptance of substitute or additional collateral for a
     Specially Serviced Mortgage Loan (other than in accordance with the terms
     of such Mortgage Loan);

          (vii)  any acceptance of a discounted payoff with respect to a
     Specially Serviced Mortgage Loan;

          (viii) any waiver of a "due-on-sale" or "due-on-encumbrance" clause
     with respect to any Mortgage Loan; and/or

                                     -70-
<PAGE>

          (ix)   any acceptance of an assumption agreement releasing a borrower
     from liability under a Mortgage Loan.

          "Specially Serviced Mortgage Loan": As defined in Section 3.01(a).

          "Specially Serviced Trust Mortgage Loan": As defined in Section
3.01(a).

          "Startup Day": With respect to each REMIC Pool, the day designated
as such in Section 2.04(a) (in the case of REMIC I), Section 2.06(a) (in the
case of REMIC II) or Section 2.08(a) (in the case of REMIC III), as
applicable.

          "Stated Principal Balance": With respect to any Trust Mortgage Loan
(and any successor REO Trust Mortgage Loan), a principal balance which (a)
initially shall equal the unpaid principal balance thereof as of the related
Due Date in September 2003 or, in the case of any Replacement Trust Mortgage
Loan, as of the related date of substitution, in any event after application
of all payments of principal due thereon on or before such date, whether or
not received, and (b) shall be permanently reduced on each subsequent
Distribution Date (to not less than zero) by (i) that portion, if any, of the
Total Principal Distribution Amount for such Distribution Date attributable to
such Trust Mortgage Loan (or successor REO Trust Mortgage Loan), and (ii) the
principal portion of any Realized Loss incurred in respect of such Trust
Mortgage Loan (or successor REO Trust Mortgage Loan) during the related
Collection Period; provided that, if a Liquidation Event occurs in respect of
any Trust Mortgage Loan or REO Property, then the "Stated Principal Balance"
of such Trust Mortgage Loan or of the related REO Trust Mortgage Loan, as the
case may be, shall be zero commencing as of the Distribution Date in the
Collection Period next following the Collection Period in which such
Liquidation Event occurred.

          "Subordinate Certificate": Any of the Class MM, 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 P and Class R Certificates.

          "Subordinate Principal Balance Certificate": Any of the Subordinate
Certificates that is also a Principal Balance Certificate.

          "Sub-Servicer": Any Person with which the Master Servicer or the
Special Servicer has entered into a Sub-Servicing Agreement.

          "Sub-Servicing Agreement": The subservicing agreements between the
Master Servicer or the Special Servicer, as the case may be, and any
Sub-Servicer relating to servicing and administration of Mortgage Loans by
such Sub-Servicer as provided in Section 3.22.

          "Substitution Shortfall Amount": With respect to a substitution
pursuant to Section 2.03(b) hereof, an amount equal to the excess, if any, of
the Purchase Price of the Trust Mortgage Loan being replaced calculated as of
the date of substitution over the Stated Principal Balance of the related
Qualified Substitute Trust Mortgage Loan as of the date of substitution. In
the event that one or more Qualified Substitute Trust Mortgage Loans are
substituted (at the same time) for one or more Deleted Trust Mortgage Loans,
the Substitution Shortfall Amount shall be determined as provided in the
preceding sentence on the basis of the aggregate Purchase Prices of the Trust
Mortgage Loan or

                                     -71-
<PAGE>

Trust Mortgage Loans being replaced and the aggregate Stated Principal
Balances of the related Qualified Substitute Trust Mortgage Loan or
Qualified Substitute Trust Mortgage Loans.

          "Successor Manager": As defined in Section 3.19(b).

          "Tax Matters Person": With respect to any REMIC Pool, the Person
designated as the "tax matters person" of such REMIC Pool in the manner
provided under Treasury regulations section 1.860F-4(d) and temporary Treasury
regulations section 301.6231(a)(7)-1T, which Person shall, pursuant to Section
10.01(b), be the Plurality Class R Certificateholder.

          "Tax Returns": The federal income tax return on IRS Form 1066, U.S.
Real Estate Mortgage Investment Conduit Income (REMIC) Tax Return, including
Schedule Q thereto, Quarterly Notice to Residual Interest Holder of REMIC
Taxable Income or Net Loss Allocation, or any successor forms, to be filed on
behalf of each REMIC Pool due to its classification as a REMIC under the REMIC
Provisions, together with any and all other information, reports or returns
that may be required to be furnished to the Certificateholders or filed with
the IRS under any applicable provisions of federal tax law or any other
governmental taxing authority under applicable state or local tax laws.

          "Termination Notice": As defined in Section 7.01(b).

          "Termination Price": As defined in Section 9.01.

          "Total Principal Distribution Amount": An amount equal to:

          (a)   with respect to any Distribution Date prior to the Final
     Distribution Date, the aggregate (without duplication) of the following--

               (i)   all payments of principal (including Principal Prepayments)
          received by or on behalf of the Trust with respect to the Trust
          Mortgage Loans during the related Collection Period, in each case
          net of any portion of the particular payment that represents a Late
          Collection of principal for which a P&I Advance was previously made
          for a prior Distribution Date or that represents the principal
          portion of a Monthly Payment due on or before the related Due Date
          in September 2003 or on a Due Date subsequent to the end of the
          related Collection Period,

               (ii)  all scheduled payments of principal due in respect of the
          Trust Mortgage Loans for their respective Due Dates occurring during
          the related Collection Period that were received by or on behalf of
          the Trust (other than as part of a Principal Prepayment) prior to
          the related Collection Period,

               (iii) all Insurance and Condemnation Proceeds and Liquidation
          Proceeds received by or on behalf of the Trust with respect to any
          of the Trust Mortgage Loans during the related Collection Period
          that were identified and applied as recoveries of principal of such
          Trust Mortgage Loans in accordance with Section 1.03, in each case
          net of any portion of such proceeds that represents a Late
          Collection of principal due on or before the related Due Date in
          September 2003 or for which a P&I Advance was previously made for a
          prior Distribution Date,

                                     -72-
<PAGE>

               (iv)  all Insurance and Condemnation Proceeds, Liquidation
          Proceeds and REO Revenues received by or on behalf of the Trust in
          respect of any REO Properties during the related Collection Period
          that were identified and applied as recoveries of principal of the
          related REO Trust Mortgage Loans in accordance with Section 1.03, in
          each case net of any portion of such proceeds and/or revenues that
          represents a Late Collection of principal due on or before the
          related Due Date in September 2003 or for which a P&I Advance was
          previously made for a prior Distribution Date, and

               (v)   the respective principal portions of all P&I Advances made
          in respect of the Trust Mortgage Loans and any REO Trust Mortgage
          Loans with respect to such Distribution Date; and

          (b) with respect to the Final Distribution Date, the aggregate
     Stated Principal Balance of the entire Mortgage Pool outstanding
     immediately prior to the Final Distribution Date.

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

          "Transfer Affidavit and Agreement": As defined in Section 5.02(d).

          "Transferee": Any Person who is acquiring by Transfer any Ownership
Interest in a Certificate.

          "Transferor": Any Person who is disposing by Transfer any Ownership
Interest in a Certificate.

          "Trust": The trust created hereby.

          "Trust Assets": The assets comprising the Trust Fund.

          "Trust Fund": All of the assets of all the REMIC Pools and both of
the Grantor Trust Pools.

          "Trust Mortgage Loan": Each of the mortgage loans transferred and
assigned to the Trustee pursuant to Section 2.01, and from time to time held
in the Trust Fund, including any Replacement Trust Mortgage Loan. As used
herein, the term "Trust Mortgage Loan" includes the related Note, Mortgage and
other documents contained in the related Mortgage File and any related
agreements. Each mortgage loan identified on the Trust Mortgage Loan Schedule
shall constitute a single Trust Mortgage Loan, regardless of the number of
promissory notes that collectively evidence the same.

          "Trust Mortgage Loan Schedule": The list of Trust Mortgage Loans
transferred on the Closing Date to the Trustee as part of the Trust Fund,
attached hereto as Exhibits B-1 and B-2, collectively, which list sets forth
the following information with respect to each Trust Mortgage Loan:

          (i)   the loan number (as specified in Exhibit A-1 to the Prospectus
                Supplement);

          (ii)  the property name;

                                     -73-
<PAGE>

          (iii)  the street address (including city, state and zip code) of the
                 related Mortgaged Property;

          (iv)   the Mortgage Rate in effect at the Cut-off Date;

          (v)    the Net Mortgage Rate in effect at the Cut-off Date;

          (vi)   the original principal balance;

          (vii)  the Cut-off Date Principal Balance;

          (viii) the (a) remaining term to stated maturity, (b) Maturity Date
                 and (c) with respect to each ARD Trust Mortgage Loan, the
                 Anticipated Repayment Date;

          (ix)   the original and remaining amortization terms;

          (x)    the amount of the Monthly Payment due on the first Due Date
                 following the Cut-off Date;

          (xi)   the number of units, pads, rooms or square footage with respect
                 to the Mortgaged Property;

          (xii)  the Interest Accrual Basis;

         (xiii)  the Master Servicing Fee Rate;

          (xiv)  the Due Date;

           (xv)  whether such loan is an ARD Trust Mortgage Loan;

          (xvi)  whether the Trust Mortgage Loan is subject to
                 lockout/defeasance;

         (xvii)  whether the related Mortgaged Property was covered by
                 earthquake insurance at the time of origination, or if
                 the loan documents require such insurance;

        (xviii)  whether such Trust Mortgage Loan has the benefit of an
                 Environmental Insurance Policy;

          (xix)  whether such Trust Mortgage Loan is secured by the
                 related Borrower's interest in Ground Leases;

           (xx)  whether such Trust Mortgage Loan is secured by a Letter
                 of Credit; and

          (xxi)  which Loan Group includes such Trust Mortgage Loan.

          Such Trust Mortgage Loan Schedule also shall set forth the aggregate
of the amounts described under clause (vii) above for all of the Trust
Mortgage Loans. Such list may be in the form of more than one list,
collectively setting forth all of the information required.

                                     -74-
<PAGE>

          "Trustee": Wells Fargo, in its capacity as trustee and its
successors in interest, or any successor trustee appointed as herein provided.

          "Trustee Account": As defined in Section 3.06(a).

          "Trustee Exception Report": As defined in Section 2.02(e).

          "Trustee Fee": The fee to be paid to the Trustee as compensation for
the Trustee's activities under this Agreement.

          "Trustee Fee Rate": 0.00175% per annum.

          "Trustee Report": As defined in Section 4.02(a).

          "UCC": The Uniform Commercial Code, as enacted in each applicable
state.

          "UCC Financing Statement": A financing statement filed or to be
filed pursuant to the UCC, as in effect in the relevant jurisdiction.

          "Uncertificated Principal Balance": The principal balance
outstanding from time to time of any REMIC I Regular Interest (calculated in
accordance with Section 2.04(e) hereof) or any REMIC II Regular Interest
(calculated in accordance with Section 2.06(e) hereof).

          "Uncovered Prepayment Interest Shortfall": As to any Distribution
Date and any Trust Mortgage Loan as to which a Principal Prepayment is made,
the excess, if any, of (i) the Prepayment Interest Shortfall relating to a
Principal Prepayment, if any, for such Trust Mortgage Loan as of such
Distribution Date, over (ii) the deposits made by the Master Servicer or the
Special Servicer to the Trustee pursuant to Section 3.02(c).

          "Uncovered Prepayment Interest Shortfall Amount": As to any
Distribution Date, the amount, if any, by which (i) the sum of the Uncovered
Prepayment Interest Shortfalls, if any, for such Distribution Date exceeds
(ii) the aggregate amount of Prepayment Interest Excesses, if any, on all
Trust Mortgage Loans for such Distribution Date.

          "Underwriters": Collectively, CSFB LLC, Greenwich Capital Markets,
Inc. and McDonald Investments Inc.

          "Underwriter Exemption": PTE 89-90, as amended by PTE 97-34, PTE
2000-58 and PTE 2002-41, and as may be subsequently amended following the
Closing Date.

          "Unfunded Principal Balance Reduction": Any reduction made in the
Class Principal Balance of any Class of Principal Balance Certificates
pursuant to Section 4.04(a), the Uncertificated Principal Balance of any REMIC
II Regular Interest pursuant to Section 4.04(b), or the Uncertificated
Principal Balance of any REMIC I Regular Interest pursuant to Section 4.04(c).

          "United States Securities Person": Any "U.S. person" as defined in
Rule 902(k) of Regulation S.

                                     -75-
<PAGE>

          "United States Tax Person": A citizen or resident of the United
States, a corporation, partnership or other entity created or organized in, or
under the laws of, the United States or any political subdivision thereof, or
an estate 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,
or a trust if a court within the United States is able to exercise primary
supervision over the administration of the trust and one or more United States
Tax Persons have the authority to control all substantial decisions of the
trust, all within the meaning of Section 7701(a)(30) of the Code.

          "Unrestricted Master Servicer Reports": Collectively, the CMSA
Delinquent Loan Status Report, CMSA Historical Loan Modification and Corrected
Mortgage Loan Report, CMSA Historical Liquidation Report, CMSA REO Status
Report and, if and to the extent filed with the Commission, such reports and
files as would, but for such filing, constitute Restricted Master Servicer
Reports.

          "USPAP": The Uniform Standards of Professional Appraisal Practices.

          "Voting Rights": The portion of the voting rights of all of the
Certificates, which is allocated to any Certificate. At all times during the
term of this Agreement and for any date of determination, the Voting Rights
shall be allocated among the various Classes of Certificateholders as follows:
(i) 1% in the case of the Class A-X and Class A-SP Certificates, based on the
respective Class Notional Amount of each such Class relative to the aggregate
Class Notional Amount of both such Classes; and (ii) in the case of any Class
of Principal Balance Certificates, a percentage equal to the product of 99%
and a fraction, the numerator of which is equal to the then Class Principal
Balance of such Class, and the denominator of which is equal to the then
aggregate Certificate Principal Balance of the Principal Balance Certificates.
The Class R and Class V Certificates will not be entitled to any Voting
Rights. Voting Rights allocated to a Class of Certificateholders shall be
allocated among such Certificateholders in proportion to the Percentage
Interests evidenced by their respective Certificates.

          "Website": Either the internet website maintained by the Trustee
(initially located at "www.ctslink.com/cmbs"), the website maintained by the
Master Servicer or the website maintained by the CMSA, as applicable.

          "Wells Fargo": As defined in the Preliminary Statement to this
Agreement.

          "Withheld Amounts": As defined in Section 3.28(a).

          "Workout Fee": The fee designated as such, and paid or payable, as
the context may require, to the Special Servicer with respect to each
Corrected Trust Mortgage Loan (or, under similar circumstances, any comparable
fee payable to the Special Servicer with respect to any Mayfair Mall Non-Trust
Companion Loan (if it is a Corrected Mortgage Loan)), pursuant to Section
3.11(b).

          "Workout Fee Rate": 1.0%.

          "Yield Maintenance Certificates": The Class A-1, Class A-2, Class
A-3, Class A-4, Class A-1-A, Class B, Class C, Class D, Class E, Class F,
Class G and Class H Certificates.

          "Yield Maintenance Charge": With respect to any Mortgage Loan, any
premium, fee or other additional amount paid or payable, as the context
requires, by a Borrower in connection with a

                                     -76-
<PAGE>

Principal Prepayment on, or other early collection of principal of,
a Mortgage Loan, calculated, in whole or in part, pursuant to a yield
maintenance formula or otherwise pursuant to a formula that reflects the lost
interest, including a Yield Maintenance Minimum Amount.

          "Yield Maintenance Minimum Amount": With respect to a Mortgage Loan
that provides for a Yield Maintenance Charge to be paid in connection with any
Principal Prepayment thereon or other early collection of principal thereof,
any specified amount or specified percentage of the amount prepaid which
constitutes the minimum amount that such Yield Maintenance Charge may be.

          SECTION 1.02. General Interpretive Principles.

          For purposes of this Agreement, except as otherwise expressly
provided or unless the context otherwise requires:

               (i) the terms defined in this Agreement include the plural as
          well as the singular, and the use of any gender herein shall be
          deemed to include the other gender;

              (ii) accounting terms not otherwise defined herein have the
          meanings assigned to them in accordance with GAAP as in effect from
          time to time;

             (iii) references herein to "Articles", "Sections",
          "Subsections", "Paragraphs" and other subdivisions without reference
          to a document are to designated Articles, Sections, Subsections,
          Paragraphs and other subdivisions of this Agreement;

              (iv) a reference to a Subsection without further reference to a
          Section is a reference to such Subsection as contained in the same
          Section in which the reference appears, and this rule shall also
          apply to Paragraphs and other subdivisions;

               (v) the words "herein", "hereof", "hereunder", "hereto",
          "hereby" and other words of similar import refer to this Agreement
          as a whole and not to any particular provision; and

              (vi) the terms "include" and "including" shall mean without
          limitation by reason of enumeration.

          SECTION 1.03. Certain Calculations in Respect of the Mortgage Loans.

          (a) All amounts collected by or on behalf of the Trust in respect of
any Cross-Collateralized Group, including any payments from Borrowers,
Insurance and Condemnation Proceeds and Liquidation Proceeds, shall be applied
among the Trust Mortgage Loans constituting such Cross-Collateralized Group in
accordance with the express provisions of the related Mortgage Loan Documents
and, in the absence of such express provisions, in accordance with the
Servicing Standard. All amounts collected by or on behalf of the Trust in
respect of any A/B Mortgage Loan Combination, including any payments from
Borrowers, Insurance and Condemnation Proceeds and

                                     -77-
<PAGE>

Liquidation Proceeds, shall be applied between the related A-Note Trust
Mortgage Loan and B-Note Non-Trust Companion Loan in accordance with the
express provisions of the related A/B Intercreditor Agreement. All amounts
collected by or on behalf of the Trust in respect of the Mayfair Mall Mortgage
Loan Combination, including any payments from Borrowers, Insurance and
Condemnation Proceeds and Liquidation Proceeds, shall be applied among the
respective Mortgage Loans comprising the Mayfair Mall Mortgage Loan
Combination in accordance with the express provisions of the Mayfair Mall
Intercreditor Agreement. All amounts collected by or on behalf of the Trust in
respect of or allocable to any particular Trust Mortgage Loan (whether or not
such Trust Mortgage Loan is an A-Note Trust Mortgage Loan, is the Mayfair Mall
Trust Mortgage Loan or constitutes part of a Cross-Collateralized Group),
including any payments from Borrowers, Insurance and Condemnation Proceeds or
Liquidation Proceeds, shall be applied to amounts due and owing under the
related Mortgage Loan Documents (including for principal and accrued and
unpaid interest) in accordance with the express provisions of the related
Mortgage Loan Documents and, in the absence of such express provisions or if
and to the extent that such terms authorize the lender to use its discretion,
shall be applied as follows: first, as a recovery of any related and
unreimbursed Servicing Advances and, if applicable, unpaid Liquidation
Expenses; second, as a recovery of accrued and unpaid interest on such Trust
Mortgage Loan to, but not including, the date of receipt by or on behalf of
the Trust (or, in the case of a full Monthly Payment from any Borrower,
through the related Due Date), exclusive, however, of any portion of such
accrued and unpaid interest that constitutes Default Interest or, in the case
of an ARD Trust Mortgage Loan after its Anticipated Repayment Date, that
constitutes Excess Interest; third, as a recovery of principal of such Trust
Mortgage Loan then due and owing, including by reason of acceleration of the
Trust Mortgage Loan following a default thereunder (or, if a Liquidation Event
has occurred in respect of such Trust Mortgage Loan, as a recovery of
principal to the extent of its entire remaining unpaid principal balance);
fourth, unless a Liquidation Event has occurred in respect of such Trust
Mortgage Loan, as a recovery of amounts to be currently applied to the payment
of, or escrowed for the future payment of, real estate taxes, assessments,
insurance premiums, ground rents (if applicable) and similar items; fifth, as
a recovery of any Penalty Charges then due and owing under such Trust Mortgage
Loan; sixth, as a recovery of any Yield Maintenance Charge then due and owing
under such Trust Mortgage Loan; seventh, as a recovery of any assumption fees
and modification fees then due and owing under such Trust Mortgage Loan;
eighth, as a recovery of any other amounts then due and owing under such Trust
Mortgage Loan other than remaining unpaid principal and, in the case of an ARD
Trust Mortgage Loan after its Anticipated Repayment Date, other than Excess
Interest; ninth, as a recovery of any remaining principal of such Trust
Mortgage Loan to the extent of its entire remaining unpaid principal balance;
and, tenth, in the case of an ARD Trust Mortgage Loan after its Anticipated
Repayment Date, as a recovery of accrued and unpaid Excess Interest on such
ARD Trust Mortgage Loan to but not including the date of receipt by or on
behalf of the Trust. Amounts allocable to any Mayfair Mall Non-Trust Companion
Loan shall be applied in the same manner as is provided in the prior sentence
with respect to the Mayfair Mall Trust Mortgage Loan.

          (b) Collections by or on behalf of the Trust in respect of each REO
Property (exclusive of amounts to be applied to the payment of the costs of
operating, managing, maintaining and disposing of such REO Property and, if
such REO Property relates to a Mortgage Loan Combination, exclusive of amounts
payable to the related Non-Trust Companion Loan Holder(s) in accordance with
the related A/B Intercreditor Agreement or the Mayfair Mall Intercreditor
Agreement, as applicable) shall be treated: first, as a recovery of any
related and unreimbursed Servicing Advances and, if applicable, unpaid
Liquidation Expenses; second, as a recovery of accrued and unpaid interest on
the related REO Trust Mortgage Loan to, but not including, the Due Date in the
Collection Period of receipt by or on behalf of the Trust, exclusive, however,
of any portion of such accrued and unpaid interest that constitutes Default
Interest or, in the case of an REO Trust Mortgage Loan that relates to an ARD
Trust Mortgage Loan after its Anticipated Repayment Date, that constitutes
Excess Interest; third, as a recovery of principal of the related REO Trust
Mortgage Loan to the extent of its entire unpaid principal

                                     -78-
<PAGE>

balance; fourth, as a recovery of any Penalty Charges deemed to be due
and owing in respect of the related REO Trust Mortgage Loan; fifth, as a
recovery of any Yield Maintenance Charge deemed to be due and owing in respect
of the related REO Trust Mortgage Loan; sixth, as a recovery of any other
amounts deemed to be due and owing in respect of the related REO Trust
Mortgage Loan (other than, in the case of an REO Trust Mortgage Loan that
relates to an ARD Trust Mortgage Loan after its Anticipated Repayment Date,
accrued and unpaid Excess Interest); and seventh, in the case of an REO Trust
Mortgage Loan that relates to an ARD Trust Mortgage Loan after its Anticipated
Repayment Date, as a recovery of any accrued and unpaid Excess Interest on
such REO Trust Mortgage Loan to but not including the date of receipt by or on
behalf of the Trust. Collections allocable to a successor REO Non-Trust
Companion Loan in respect of any Mayfair Mall Non-Trust Companion Mortgage
Loan shall be applied in the same manner as is provided in the prior sentence
with respect to a successor REO Trust Mortgage Loan in respect of the Mayfair
Mall Trust Mortgage Loan.

          (c) For the purposes of this Agreement, Excess Interest on an ARD
Trust Mortgage Loan or a successor REO Trust Mortgage Loan with respect
thereto shall be deemed not to constitute principal or any portion thereof and
shall not be added to the unpaid principal balance or Stated Principal Balance
of such ARD Trust Mortgage Loan or successor REO Trust Mortgage Loan,
notwithstanding that the terms of the related loan documents so permit. To the
extent any Excess Interest is not paid on a current basis, it shall be deemed
to be deferred interest.

          (d) The foregoing applications of amounts received in respect of any
Mortgage Loan, Mortgage Loan Combination or REO Property shall be determined
by the Master Servicer and reflected in the appropriate monthly report from
the Master Servicer and in the appropriate monthly Trustee Report as provided
in Section 4.02.

          (e) All calculations of interest earned on Advances provided for
herein shall be made on the basis of a 360-day year consisting of twelve
30-day months.

          (f) Any Mortgage Loan payment is deemed to be received on the date
such payment is actually received by the Master Servicer, the Special Servicer
or the Trustee; provided, however, that for purposes of calculating
distributions on the Certificates, (i) any voluntary Principal Prepayment made
on a date other than the related Due Date and in connection with which the
Master Servicer has collected interest thereon through the end of the related
Mortgage Interest Accrual Period shall be deemed to have been made, and the
Master Servicer shall apply such Principal Prepayment to reduce the
outstanding principal balance of the related Mortgage Loan as if such
Principal Prepayment had been received, on the following Due Date (so long as
such next following Due Date is in the same Collection Period as the actual
date of receipt) and (ii) all other Principal Prepayments with respect to any
Mortgage Loan are deemed to be received on the date they are applied to reduce
the outstanding principal balance of such Mortgage Loan.

          (g) Notwithstanding the terms of any Trust Mortgage Loan, the Master
Servicer shall not be entitled to the payment of any Penalty Charge in excess
of outstanding interest on Advances made with respect to such Trust Mortgage
Loan, except to the extent that (i) all reserves required to be established
with the Master Servicer and then required to be funded pursuant to the terms
of such Trust Mortgage Loan have been so funded, (ii) all payments of
principal and interest then due on such Trust Mortgage Loan have been paid and
(iii) all related operating expenses, if applicable, have been paid to the
related Lock-Box Account or reserved for pursuant to the related Lock-Box
Agreement.

                                     -79-
<PAGE>

          SECTION 1.04. Crossed Trust Mortgage Loans.

          Notwithstanding anything herein to the contrary, it is hereby
acknowledged that the groups of Trust Mortgage Loans identified on the Trust
Mortgage Loan Schedule as being cross-collateralized with each other are, in
the case of each such particular group of Trust Mortgage Loans, by their
terms, cross-defaulted and cross-collateralized with each other. For purposes
of reference only in this Agreement, and without in any way limiting the
servicing rights and powers of the Master Servicer and/or the Special
Servicer, with respect to any Crossed Trust Mortgage Loan (or successor REO
Trust Mortgage Loan), the Mortgaged Property (or REO Property) that relates or
corresponds thereto shall be the property identified in the Trust Mortgage
Loan Schedule as corresponding thereto. The provisions of this Agreement,
including each of the defined terms set forth in Section 1.01, shall be
interpreted in a manner consistent with this Section 1.04; provided that, if
there exists with respect to any Cross-Collateralized Group only one original
of any document referred to in the definition of "Mortgage File" covering all
the Trust Mortgage Loans in such Cross-Collateralized Group, then the
inclusion of the original of such document in the Mortgage File for any of the
Trust Mortgage Loans constituting such Cross-Collateralized Group shall be
deemed an inclusion of such original in the Mortgage File for each such Trust
Mortgage Loan.

                                     -80-
<PAGE>

                                  ARTICLE II

        CONVEYANCE OF MORTGAGE LOANS; ORIGINAL ISSUANCE OF CERTIFICATES

          SECTION 2.01. Conveyance of Original Trust Mortgage Loans.

          (a) It is the intention of the parties hereto that a common law
trust be established under the laws of the State of New York pursuant to this
Agreement and, further, that such trust be designated as "Credit Suisse First
Boston Mortgage Securities Trust 2003-C4". Wells Fargo is hereby appointed,
and does hereby agree to act, as Trustee hereunder and, in such capacity, to
hold the Trust Fund in trust for the exclusive use and benefit of all present
and future Certificateholders. It is not intended that this Agreement create a
partnership or a joint-stock association.

          The Depositor, concurrently with the execution and delivery hereof,
does hereby assign, sell, transfer, set over and otherwise convey to the
Trustee, without recourse, for the benefit of the Certificateholders all the
right, title and interest of the Depositor, including any security interest
therein for the benefit of the Depositor, in, to and under (i) the Original
Trust Mortgage Loans, (ii) the Mortgage Loan Purchase Agreements and (iii) all
other assets included or to be included in the Trust Fund. Such assignment
includes all interest and principal received or receivable on or with respect
to the Original Trust Mortgage Loans (other than payments of principal and
interest due and payable on the Original Trust Mortgage Loans on or before the
Cut-off Date and Principal Prepayments paid on or before the Cut-off Date).
The transfer of the Original Trust Mortgage Loans and the related rights and
property accomplished hereby is absolute and, notwithstanding Section 11.07,
is intended by the parties to constitute a sale.

          Under GAAP, the Depositor shall report and cause all of its records
to reflect: (i) its acquisition of the Original Column Trust Mortgage Loans
from Column, pursuant to the Column Mortgage Loan Purchase Agreement, as a
purchase of such Trust Mortgage Loans from Column; (ii) its acquisition of the
Original KeyBank Trust Mortgage Loans from KeyBank, pursuant to the KeyBank
Mortgage Loan Purchase Agreement, as a purchase of such Trust Mortgage Loans
from KeyBank; and (iii) its transfer of the Original Trust Mortgage Loans to
the Trust, pursuant to this Section 2.01(a), as a sale of such Trust Mortgage
Loans to the Trust; provided that, in the case of the transactions described
in clauses (i) and (iii) of this sentence, the Depositor shall do so only upon
the sale of Certificates representing at least 10% of the aggregate fair value
of all the Certificates to parties that are not Affiliates of the Depositor.
Regardless of its treatment of the transfer of the Original Trust Mortgage
Loans to the Trust under GAAP, the Depositor shall at all times following the
Closing Date cause all of its records and financial statements and any
relevant consolidated financial statements of any direct or indirect parent
clearly to reflect that the Original Trust Mortgage Loans have been
transferred to the Trust and are no longer available to satisfy claims of the
Depositor's creditors.

          (b) In connection with the Depositor's assignment pursuant to
Section 2.01(a), the Depositor shall direct, and hereby represents and
warrants that it has directed, each Mortgage Loan Seller pursuant to the
related Mortgage Loan Purchase Agreement to deliver to and deposit with, or
cause to be delivered to and deposited with, the Trustee, on or before the
Closing Date, the Mortgage File for each Original Trust Mortgage Loan so
assigned.

                                     -81-
<PAGE>

          Notwithstanding the foregoing, if a Mortgage Loan Seller cannot
deliver, or cause to be delivered as to any Trust Mortgage Loan, the original
Note, such Mortgage Loan Seller shall deliver a copy or duplicate original of
such Note, together with an affidavit substantially in the form attached as
Exhibit J hereto, certifying that the original thereof has been lost or
destroyed.

          Notwithstanding the foregoing, if the applicable Mortgage Loan
Seller cannot deliver, or cause to be delivered, as to any Trust Mortgage
Loan, any of the documents and/or instruments referred to in clauses (ii),
(iv), (viii), (xi) (other than assignments of UCC Financing Statements to be
filed in accordance with the transfer contemplated by the related Mortgage
Loan Purchase Agreement), (xii) and (xiv) (other than assignments of UCC
Financing Statements to be filed in accordance with the transfer contemplated
by the related Mortgage Loan Purchase Agreement) of the definition of
"Mortgage File", with evidence of recording or filing thereon, solely because
of a delay caused by the public recording or filing office where such document
or instrument has been delivered for recordation or filing, the delivery
requirements of the related Mortgage Loan Purchase Agreement and this Section
2.01(b) shall be deemed to have been satisfied and such non-delivered document
or instrument shall be deemed to have been included in the Mortgage File if:
(i) a photocopy or duplicate original of such non-delivered document or
instrument (certified by the applicable public recording or filing office, the
applicable title insurance company or such Mortgage Loan Seller to be a true
and complete copy of the original thereof submitted for recording or filing)
is delivered to the Trustee, on or before the Closing Date; and (ii) either
the original of such non-delivered document or instrument, or a photocopy
thereof (certified by the appropriate public recording or filing office to be
a true and complete copy of the original thereof submitted for recording or
filing), with evidence of recording or filing thereon, is delivered to the
Trustee within 120 days of the Closing Date, which period may be extended up
to two times, in each case for an additional period of 45 days (provided that
such Mortgage Loan Seller, as certified in writing to the Trustee prior to
each such 45-day extension, is in good faith attempting to obtain from the
appropriate county recorder's office such original or photocopy).

          Notwithstanding the foregoing, if the applicable Mortgage Loan
Seller cannot deliver, or cause to be delivered, as to any Trust Mortgage
Loan, any of the documents and/or instruments referred to in clauses (ii),
(iv), (viii), (xi) (other than assignments of UCC Financing Statements to be
filed in accordance with the transfer contemplated by the related Mortgage
Loan Purchase Agreement), (xii) and (xiv) (other than assignments of UCC
Financing Statements to be filed in accordance with the transfer contemplated
by the related Mortgage Loan Purchase Agreement) of the definition of
"Mortgage File", with evidence of recording or filing thereon, for any other
reason, including, without limitation, that such non-delivered document or
instrument has been lost, the delivery requirements of the related Mortgage
Loan Purchase Agreement and this Section 2.01(b) shall be deemed to have been
satisfied and such non-delivered document or instrument shall be deemed to
have been included in the Mortgage File if a photocopy of such non-delivered
document or instrument (with evidence of recording or filing thereon and
certified by the appropriate recording or filing office to be a true and
complete copy of the original thereof submitted for recording or filing) is
delivered to the Trustee on or before the Closing Date.

          Notwithstanding the foregoing, if any Mortgage Loan Seller fails to
deliver a UCC Financing Statement assignment on or before the Closing Date as
required above solely because the related UCC Financing Statement has not been
returned to such Mortgage Loan Seller by the applicable filing office and such
Mortgage Loan Seller has so notified the Trustee, such Mortgage Loan Seller
shall not be in breach of its obligations with respect to such delivery;
provided that the Mortgage Loan Seller

                                     -82-
<PAGE>

promptly forwards such UCC Financing Statement to the Trustee upon
its return, together with the related original UCC Financing Statement
assignment in a form appropriate for filing.

          Neither the Trustee nor the Master Servicer shall be liable for any
failure by any Mortgage Loan Seller or the Depositor to comply with the
delivery requirements of the related Mortgage Loan Purchase Agreement and this
Section 2.01(b).

          (c) At the expense of the related Mortgage Loan Seller, the Trustee
(directly or through its designee) shall, as to each Trust Mortgage Loan, use
its best efforts to promptly (and in any event no later than the later of (i)
120 days after the Closing Date (or, in the case of a Replacement Trust
Mortgage Loan, the related date of substitution) and (ii) 60 days from receipt
of documents in form suitable for recording or filing, as applicable,
including, without limitation, all necessary recording and filing information)
cause to be submitted for recording or filing, as the case may be, each
assignment referred to in clauses (iii) and (v) of the definition of "Mortgage
File" and each UCC Financing Statement assignment to the Trustee referred to
in clauses (xi) and (xiv) of the definition of "Mortgage File". Unless
otherwise indicated on any documents provided to the Trustee, the Trustee
shall file each such UCC Financing Statement assignment in the state of
incorporation or organization of the related Borrower; provided that the
related Mortgage Loan Seller shall have filed, if necessary, an initial UCC
Financing Statement under the Revised Article 9 in lieu of continuation in
such jurisdiction. Each such assignment shall reflect that it should be
returned by the public recording office to the Trustee following recording,
and each such UCC Financing Statement assignment shall reflect that the file
copy thereof should be returned to the Trustee following filing. If any such
document or instrument is lost or returned unrecorded or unfiled because of a
defect therein, the Trustee shall 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 respective Mortgage Loan Purchase Agreements provide for the
reimbursement of the Trustee, in each case by the related Mortgage Loan
Seller, for the Trustee's costs and expenses incurred in performing its
obligation under this Section 2.01(c).

          Notwithstanding the foregoing, any Mortgage Loan Seller may elect,
at its sole cost and expense, to engage a third party contractor to prepare or
complete in proper form for filing and recording any and all of the
assignments described in the immediately preceding paragraph, with respect to
the Trust Mortgage Loans conveyed by it to the Depositor (or, in the case of a
Replacement Trust Mortgage Loan, to the Trustee) under the applicable Mortgage
Loan Purchase Agreement, to submit such assignments for filing and recording,
as the case may be, in the applicable public filing and recording offices and
to deliver such assignments to the Trustee or its designee as such assignments
(or certified copies thereof) are received from the applicable filing and
recording offices with evidence of such filing or recording indicated thereon.

          (d) In connection with the Depositor's assignment pursuant to
Section 2.01(a), the Depositor shall direct, and hereby represents and
warrants that it has directed, each Mortgage Loan Seller pursuant to the
related Mortgage Loan Purchase Agreement to deliver to and deposit with, or
cause to be delivered to and deposited with, the Master Servicer, within 10
Business Days after the Closing Date, all documents and records in the
Depositor's or the applicable Mortgage Loan Seller's possession relating to
the Trust Mortgage Loans (including reserve and escrow agreements, rent rolls,
leases, environmental and engineering reports, third-party underwriting
reports, appraisals, surveys, legal opinions, financial statements, operating
statements and any other information provided by the

                                     -83-
<PAGE>

respective Borrower from time to time and any other documents in the
related Servicing File, but excluding any attorney/client privileged
communications and documents prepared by the applicable Mortgage Loan Seller
or any of its Affiliates solely for internal communication, except for the
underwriting information contained in the underwriting memorandum or asset
summary report prepared by the applicable Mortgage Loan Seller in connection
with the preparation of Exhibit A-1 to the Prospectus Supplement) that are not
required to be a part of a Mortgage File in accordance with the definition
thereof, and all such items shall be held by the Master Servicer on behalf of
the Trustee in trust for the benefit of the Certificateholders (and, insofar
as such items relate to a Non-Trust Companion Loan, the related Non-Trust
Companion Loan Holder).

          In addition, with respect to each Trust Mortgage Loan under which
any Additional Collateral is in the form of a Letter of Credit as of the
Closing Date, the Depositor hereby represents and warrants that it has
contractually obligated the related Mortgage Loan Seller to cause to be
prepared, executed and delivered to the issuer of each such Letter of Credit
such notices, assignments and acknowledgments as are required under such
Letter of Credit to assign, without recourse, to (and vest in) the Trustee
such party's rights as the beneficiary thereof and drawing party thereunder.

          (e) In connection with the Depositor's assignment pursuant to
subsection (a) above, the Depositor shall deliver, and hereby represents and
warrants that it has delivered, to the Trustee and the Master Servicer, on or
before the Closing Date, a fully executed original counterpart or copy of each
of the Mortgage Loan Purchase Agreements, as in full force and effect, without
amendment or modification, on the Closing Date.

          (f) The Depositor shall use reasonable efforts to require that,
promptly after the Closing Date, but in all events within three Business Days
after the Closing Date, each of the Mortgage Loan Sellers shall cause all
funds on deposit in escrow accounts maintained with respect to the Original
Trust Mortgage Loans in the name of such Mortgage Loan Seller or any other
name, to be transferred to the Master Servicer (or a Sub-Servicer at the
direction of the Master Servicer) for deposit into Servicing Accounts.

          (g) For purposes of this Section 2.01, and notwithstanding any
contrary provision hereof or of the definition of "Mortgage File", if there
exists with respect to any group of Crossed Trust Mortgage Loans only one
original or certified copy of any document or instrument described in the
definition of "Mortgage File" which pertains to all of the Crossed Trust
Mortgage Loans in such group of Crossed Trust Mortgage Loans, the inclusion of
the original or certified copy of such document or instrument in the Mortgage
File for any of such Crossed Trust Mortgage Loans and the inclusion of a copy
of such original or certified copy in each of the Mortgage Files for the other
Crossed Trust Mortgage Loans in such group of Crossed Trust Mortgage Loans
shall be deemed the inclusion of such original or certified copy in the
Mortgage Files for each such Crossed Trust Mortgage Loan.

          SECTION 2.02. Acceptance by Trustee.

          (a) The Trustee, by the execution and delivery of this Agreement,
acknowledges receipt by it, subject to the provisions of Sections 2.01 and
2.02(d), to any exceptions noted on the Trustee Exception Report, and to the
further review provided for in Section 2.02(b), of the Notes, fully executed
original counterparts of the Mortgage Loan Purchase Agreements and of all
other assets included in the Trust Fund, in good faith and without notice of
any adverse claim, and declares that it holds and will hold such documents and
any other documents delivered or caused to be delivered by the

                                     -84-
<PAGE>

Mortgage Loan Sellers constituting the Mortgage Files, and that it holds
and will hold such other assets included in the Trust Fund, in trust for
the exclusive use and benefit of all present and future Certificateholders;
provided that to the extent that a Mortgage File relates to the Mayfair Mall
Trust Mortgage Loan or an A-Note Trust Mortgage Loan, the Trustee shall also
hold such Mortgage File in the trust on behalf of the related Non-Trust
Companion Loan Holders; provided further that the Trustee or any Custodian
appointed by the Trustee pursuant to Section 8.12 shall hold any Letter of
Credit in a custodial capacity only and shall have no obligation to maintain,
extend the term of, enforce or otherwise pursue any rights under such Letter
of Credit which obligation the Master Servicer hereby undertakes.

          (b) Within 60 days of the Closing Date, the Trustee shall review
and, subject to Sections 2.01 and 2.02(d), certify in writing (substantially
in the form attached hereto as Exhibit O) to each of the Depositor, the Master
Servicer, the Special Servicer, the respective Mayfair Mall Non-Trust
Companion Loan Holders and the respective Mortgage Loan Sellers that, as to
each Trust Mortgage Loan listed in the Trust Mortgage Loan Schedule (other
than any Trust Mortgage Loan paid in full and any Trust Mortgage Loan
specifically identified in any exception report annexed thereto as not being
covered by such certification), (i) all documents specified in clauses (i)
through (v), (ix), (xi), (xii), (xvi) and (xviii) of the definition of
"Mortgage File" are in its possession, and (ii) all documents delivered or
caused to be delivered by such Mortgage Loan Seller constituting the Mortgage
Files have been received, appear to have been executed, appear to be what they
purport to be, purport to be recorded or filed (if recordation or filing is
specified for such document in the definition of "Mortgage File") and have not
been torn, mutilated or otherwise defaced, and that such documents appear to
relate to the Trust Mortgage Loans identified on the Trust Mortgage Loan
Schedule.

          (c) The Trustee shall review each of the Mortgage Loan Documents
received after the Closing Date; and, on or about 90 days following the
Closing Date, 180 days following the Closing Date, the first anniversary of
the Closing Date, 180 days following the first anniversary of the Closing
Date, 270 days following the first anniversary of the Closing Date and on the
second anniversary of the Closing Date, the Trustee shall, subject to Sections
2.01 and 2.02(d), certify in writing to each of the Depositor, the Master
Servicer, the Special Servicer, the respective Mayfair Mall Non-Trust
Companion Loan Holders and the respective Mortgage Loan Sellers that, as to
each Trust Mortgage Loan listed on the Trust Mortgage Loan Schedule (excluding
any Trust Mortgage Loan as to which a Liquidation Event has occurred or any
Trust Mortgage Loan specifically identified in any exception report annexed
thereto as not being covered by such certification), (i) all documents
specified in clauses (i) through (v), (ix), (xi), (xii), (xvi) and (xviii) of
the definition of "Mortgage File" are in its possession, (ii) it has received
either a recorded original of each of the assignments specified in clause
(iii) and clause (v) of the definition of "Mortgage File", or, insofar as an
unrecorded original thereof had been delivered or caused to be delivered by
the applicable Mortgage Loan Seller, a copy of such recorded original
certified by the applicable public recording office to be true and complete,
and (iii) all such Mortgage Loan Documents have been received, have been
executed, appear to be what they purport to be, purport to be recorded or
filed (if recordation or filing is specified for such document in the
definition of "Mortgage File") and have not been torn, mutilated or otherwise
defaced, and that such documents relate to the Trust Mortgage Loans identified
on the Trust Mortgage Loan Schedule. Further, with respect to the documents
described in clause (xi) of the definition of the Mortgage File, the Trustee
may assume, for purposes of the certification delivered pursuant to this
Section 2.02(c), that the related Mortgage File should include one state level
UCC Financing Statement filing in the state of incorporation of the related
Borrower for each Mortgaged Property, or, with respect to any Mortgage Loan
that has two or more

                                     -85-
<PAGE>

Borrowers, one state level UCC Financing Statement filing in the state
of incorporation of each such Borrower. The Trustee shall, upon request,
provide the Master Servicer with recording and filing information as to
recorded Mortgages, Assignments of Lease and UCC Financing Statements to the
extent that the Trustee receives them from the related recording offices.

          (d) It is herein acknowledged that the Trustee is not under any duty
or obligation (i) to determine whether any of the documents specified in
clauses (vi), (vii), (viii), (x), (xiii), (xiv), (xv), (xvii) and (xix) of the
definition of "Mortgage File" exist or are required to be delivered by the
Depositor, a Mortgage Loan Seller or any other Person other than to the extent
identified on the related Trust Mortgage Loan Schedule, (ii) to inspect,
review or examine any of the documents, instruments, certificates or other
papers relating to the Trust Mortgage Loans delivered to it to determine that
the same are valid, legal, effective, in recordable form, genuine,
enforceable, sufficient or appropriate for the represented purpose or that
they are other than what they purport to be on their face or (iii) to
determine whether any omnibus assignment specified in clause (vii) of the
definition of "Mortgage File" is effective under applicable law. To the extent
the Trustee has actual knowledge or is notified of any fixture or real
property UCC Financing Statements, the Trustee shall file an assignment to the
Trust with respect to such UCC Financing Statements in the appropriate
jurisdiction under the UCC at the expense of the related Mortgage Loan Seller.

          (e) If, in the process of reviewing the Mortgage Files or at any
time thereafter, the Trustee finds that a Defect exists with respect to any
Mortgage File, the Trustee shall promptly so notify the Depositor, the Master
Servicer, the Special Servicer and the applicable Mortgage Loan Seller, by
providing a written report (the "Trustee Exception Report") setting forth for
each affected Trust Mortgage Loan, with particularity, the nature of such
Defect. The Trustee shall not be required to verify the conformity of any
document with the Trust Mortgage Loan Schedule, except that such documents
have been properly executed or received, have been recorded or filed (if
recordation is specified for such document in the definition of "Mortgage
File"), appear to be related to the Trust Mortgage Loans identified on the
Trust Mortgage Loan Schedule, appear to be what they purport to be, or have
not been torn, mutilated or otherwise defaced.

          (f) Upon the second anniversary of the Closing Date, the Trustee
shall deliver a final exception report as to any remaining Defects or required
Mortgage Loan Documents that are not in its possession and that it was
required to review pursuant to Section 2.02(c).

          SECTION 2.03.   Representations, Warranties and Covenants of the
                          Depositor; Repurchase and Substitution of Trust
                          Mortgage Loans by the Mortgage Loan Sellers for
                          Defects in Mortgage Files and Breaches of
                          Representations and Warranties.

          (a) The Depositor hereby represents, warrants and covenants that:

              (i) The Depositor is a corporation duly organized, validly
          existing and in good standing under the laws of the State of
          Delaware, and the Depositor has taken all necessary corporate action
          to authorize the execution, delivery and performance of this
          Agreement by it, and has the power and authority to execute, deliver
          and perform this Agreement and all the transactions contemplated
          hereby, including, but not limited to, the power and authority to
          sell, assign and transfer the Original Trust Mortgage Loans in
          accordance with this Agreement; the

                                     -86-
<PAGE>

          Depositor has duly authorized the execution, delivery and performance
          of this Agreement, and has duly executed and delivered this Agreement;

              (ii) Assuming the due authorization, execution and delivery of
          this Agreement by each other party hereto, this Agreement and all of
          the obligations of the Depositor hereunder are the legal, valid and
          binding obligations of the Depositor, enforceable against the
          Depositor in accordance with the terms of this Agreement, 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 enforceability is considered in a
          proceeding in equity or at law);

             (iii) The execution and delivery of this Agreement and the
          performance of its obligations hereunder by the Depositor will not
          conflict with any provisions of any law or regulations to which the
          Depositor is subject, or conflict with, result in a breach of or
          constitute a default under any of the terms, conditions or
          provisions of the certificate of incorporation or the by-laws of the
          Depositor or any indenture, agreement or instrument to which the
          Depositor is a party or by which it is bound, or any order or decree
          applicable to the Depositor, or result in the creation or imposition
          of any lien on any of the Depositor's assets or property, which
          would materially and adversely affect the ability of the Depositor
          to carry out the transactions contemplated by this Agreement; the
          Depositor has obtained any consent, approval, authorization or order
          of any court or governmental agency or body required for the
          execution, delivery and performance by the Depositor of this
          Agreement;

               (iv) There is no action, suit or proceeding pending or, to the
          Depositor's knowledge, threatened against the Depositor in any court
          or by or before any other governmental agency or instrumentality
          which would materially and adversely affect the validity of the
          Original Trust Mortgage Loans or the ability of the Depositor to
          carry out the transactions contemplated by this Agreement;

                (v) The Depositor's transfer of the Original Trust Mortgage
          Loans to the Trustee as contemplated herein is not subject to any
          bulk transfer or similar law in effect in any applicable
          jurisdiction;

               (vi) The Depositor is not transferring the Original Trust
          Mortgage Loans to the Trustee with any intent to hinder, delay or
          defraud its present or future creditors;

              (vii) The Depositor has been solvent at all relevant times
          prior to, and will not be rendered insolvent by, its transfer of the
          Original Trust Mortgage Loans to the Trustee, pursuant to Section
          2.01(a);

             (viii) After giving effect to its transfer of the Original
          Trust Mortgage Loans to the Trustee, pursuant to Section 2.01(a),
          the value of the Depositor's assets, either taken at their present
          fair saleable value or at fair valuation, will exceed the amount of
          the Depositor's debts and obligations, including contingent and
          unliquidated debts and obligations of the Depositor, and the
          Depositor will not be left with unreasonably small assets or capital
          with which to engage in and conduct its business;

                                     -87-
<PAGE>

               (ix) The Depositor does not intend to, and does not believe
          that it will, incur debts or obligations beyond its ability to pay
          such debts and obligations as they mature;

                (x) No proceedings looking toward merger, liquidation,
          dissolution or bankruptcy of the Depositor are pending or
          contemplated;

               (xi) Immediately prior to the transfer of the Original Trust
          Mortgage Loans to the Trustee for the benefit of the
          Certificateholders pursuant to this Agreement, the Depositor had
          such right, title and interest in and to each Original Trust
          Mortgage Loan as was transferred to it by the related Mortgage Loan
          Seller pursuant to the related Mortgage Loan Purchase Agreement;

               (xii) The Depositor has not transferred any of its right, title
          and interest in and to the Original Trust Mortgage Loans to any
          Person other than the Trustee;

              (xiii) The Depositor is transferring all of its right, title
          and interest in and to the Original Trust Mortgage Loans to the
          Trustee for the benefit of the Certificateholders free and clear of
          any and all liens, pledges, charges, security interests and other
          encumbrances created by or through the Depositor;

              (xiv) Except for any actions that are the express
          responsibility of another party hereunder or under any Mortgage Loan
          Purchase Agreement, and further except for actions that the
          Depositor is expressly permitted to complete subsequent to the
          Closing Date, the Depositor has taken all actions required under
          applicable law to effectuate the transfer of all of its right, title
          and interest in and to the Original Trust Mortgage Loans by the
          Depositor to the Trustee; and

              (xv) Following consummation of the conveyance of the Original
          Trust Mortgage Loans by the Depositor to the Trustee, the Depositor
          shall take no action inconsistent with the Trust Fund's ownership of
          the Original Trust Mortgage Loans, and if a third party, including a
          potential purchaser of the Original Trust Mortgage Loans, should
          inquire, the Depositor shall promptly indicate that the Original
          Trust Mortgage Loans have been sold and shall claim no ownership
          interest therein.

          (b) If any Certificateholder, the Master Servicer, the Special
Servicer or the Trustee discovers or receives notice of a Defect or a Breach
with respect to any Trust Mortgage Loan, it shall give notice to the Master
Servicer, the Special Servicer and the Trustee. If the Master Servicer or the
Special Servicer determines that such Defect or Breach materially and
adversely affects the value of any Trust Mortgage Loan or the interests of the
Certificateholders therein (any such Defect or Breach, a "Material Defect" and
a "Material Breach", respectively), it shall give prompt written notice of
such Defect or Breach to the Depositor, the Trustee, the Master Servicer, the
Special Servicer and the applicable Mortgage Loan Seller and shall request
that such Mortgage Loan Seller, not later than the earlier of 90 days from the
receipt by the applicable Mortgage Loan Seller of such request (subject to the
second succeeding paragraph, the "Initial Resolution Period"), (i) cure such
Defect or Breach in all material respects, (ii) repurchase the affected Trust
Mortgage Loan at the applicable Purchase Price in conformity with the related
Mortgage Loan Purchase Agreement, or (iii) substitute a Qualified Substitute
Trust Mortgage Loan for such affected Trust Mortgage Loan (provided that in no
event shall such substitution occur later than the second anniversary of the
Closing Date) and pay to the Master

                                     -88-
<PAGE>

Servicer for deposit into the Collection Account any Substitution
Shortfall Amount in connection therewith in conformity with the related
Mortgage Loan Purchase Agreement; provided, however, that if (i) such Material
Defect or Material Breach is capable of being cured but not within the Initial
Resolution Period, (ii) such Material Defect or Material Breach is not related
to any Trust Mortgage Loan's not being a "qualified mortgage" within the
meaning of the REMIC Provisions, and (iii) the Mortgage Loan Seller has
commenced and is diligently proceeding with the cure of such Material Defect
or Material Breach within the Initial Resolution Period, then the Mortgage
Loan Seller shall have an additional 90 days to cure such Material Defect or
Material Breach (provided that the Mortgage Loan Seller has delivered to the
Master Servicer, the Rating Agencies and the Trustee an officer's certificate
from an officer of the Mortgage Loan Seller that describes the reasons that
the cure was not effected within the Initial Resolution Period and the actions
that it proposes to take to effect the cure and that states that it
anticipates that the cure will be effected within the additional 90-day
period).

          Any of the following will cause a document in the Mortgage File to
be deemed to have a "Defect" and to be conclusively presumed to materially and
adversely affect the interests of Certificateholders in a Trust Mortgage Loan
and the value of a Trust Mortgage Loan: (a) the absence from the Mortgage File
of the original signed 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
certified copy of the Mortgage as recorded or as sent for recordation,
together with a certificate stating that the original signed Mortgage was sent
for recordation, or a copy of the Mortgage and the related recording
information; (c) the absence from the Mortgage File of the item called for by
paragraph (ix) of the definition of Mortgage File; (d) the absence from the
Mortgage File of any intervening assignment required to create an effective
assignment to the Trustee on behalf of the Trust, unless there is included in
the Mortgage File a certified copy of the intervening assignment as recorded
or as sent for recordation, together with a certificate stating that the
original intervening assignment was sent for recordation; (e) the absence from
the Servicing File of any required original Letter of Credit (as required in
the parenthetical exception in the first paragraph of Section 2.01(b))
(provided that such Defect may be cured by the provision of a substitute
Letter of Credit or a cash reserve on behalf of the related Borrower); or (f)
the absence from the Mortgage File of the original or a copy of any required
Ground Lease.

          Any Defect or Breach which causes any Trust Mortgage Loan not to be
a "qualified mortgage" (within the meaning of Section 860G(a)(3) of the Code)
shall be deemed to materially and adversely affect the interest of the
Certificateholders therein and the Initial Resolution Period for the affected
Trust Mortgage Loan shall be 90 days following the earlier of (i) the
discovery of such Defect or Breach by any party to this Agreement (so long as
the related Mortgage Loan Seller received prompt notice thereof pursuant to
Section 7 of the related Mortgage Loan Purchase Agreement) and (ii) the
related Mortgage Loan Seller's discovery of such Defect or Breach (which
period shall not be subject to extension).

          If any affected Trust Mortgage Loan is to be repurchased by reason
of a Material Breach or a Material Defect with respect thereto, the Master
Servicer shall designate the Collection Account as the account into which
funds in the amount of the Purchase Price are to be deposited by wire
transfer. In addition, if the Mayfair Mall Trust Mortgage Loan is to be
repurchased by reason of a Material Breach or a Material Defect with respect
thereto, the Master Servicer shall require the party effecting the purchase to
reimburse the Master Servicer, the Special Servicer, the Trustee and the
Depositor for any amounts due and owing to them with respect to the Mayfair
Mall Non-Trust Companion Loans

                                     -89-
<PAGE>

hereunder (to the extent that such amounts are not otherwise included as part
of the Purchase Price and would otherwise have been payable out of future
collections on the Mayfair Mall Non-Trust Companion Loans).

          If (x) a Trust Mortgage Loan is to be repurchased or substituted for
as contemplated above, (y) such Trust Mortgage Loan is a Crossed Trust
Mortgage Loan and (z) the applicable Defect or Breach does not otherwise
constitute a Material Defect or a Material Breach, as the case may be, as to
any related Crossed Trust Mortgage Loan, then the applicable Defect or Breach
shall be deemed to constitute a Material Defect or a Material Breach as to any
related Crossed Trust Mortgage Loan for purposes of the above provisions, and
the Mortgage Loan Seller shall be required to repurchase or substitute for any
related Crossed Trust Mortgage Loan in accordance with the provisions above
unless the Crossed Trust Mortgage Loan Repurchase Criteria would be satisfied
if the Mortgage Loan Seller were to repurchase or substitute for only the
affected Crossed Trust Mortgage Loans as to which a Material Defect or
Material Breach had occurred without regard to this paragraph, and in the case
of either such repurchase or substitution, all of the other requirements set
forth in this Section 2.03 applicable to a repurchase or substitution, as the
case may be, would be satisfied. In the event that the Crossed Trust Mortgage
Loan Repurchase Criteria would be so satisfied, the Mortgage Loan Seller may
elect either to repurchase or substitute for only the affected Crossed Trust
Mortgage Loan as to which the Material Defect or Material Breach exists or to
repurchase or substitute for the aggregated Crossed Trust Mortgage Loans. The
determination of the Special Servicer as to whether the Crossed Trust Mortgage
Loan Repurchase Criteria have been satisfied shall be conclusive and binding
in the absence of manifest error. The Special Servicer will be entitled to
cause to be delivered, or direct the Mortgage Loan Seller to (in which case
the Mortgage Loan 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 clause (ii) of the definition of Crossed Trust Mortgage
Loan Repurchase Criteria has been satisfied, in each case at the expense of
the Mortgage Loan Seller if the scope and cost of the Appraisal is approved by
the Mortgage Loan Seller (such approval not to be unreasonably withheld).

          With respect to any Crossed Trust Mortgage Loan conveyed hereunder,
to the extent that the Mortgage Loan Seller repurchases an affected Crossed
Trust Mortgage Loan in the manner prescribed above while the Trustee continues
to hold any related Crossed Trust Mortgage Loans, the Mortgage Loan Seller and
the Depositor have agreed in the Mortgage Loan Purchase Agreement to modify,
upon such repurchase or substitution, the related Mortgage Loan Documents in a
manner such that such affected Crossed Trust Mortgage Loan repurchased or
substituted by the related Mortgage Loan Seller, on the one hand, and any
related Crossed Trust Mortgage Loans held by the Trustee, on the other, would
no longer be cross-defaulted or cross-collateralized with one another;
provided that the Mortgage Loan Seller shall have furnished the Trustee, at
its expense, with an Opinion of Counsel that such modification shall not cause
an Adverse REMIC Event; provided, further, that if such Opinion cannot be
furnished, the Mortgage Loan Seller and the Depositor have agreed in the
Mortgage Loan Purchase Agreement that such repurchase or substitution of only
the affected Crossed Trust Mortgage Loan, notwithstanding anything to the
contrary herein, shall not be permitted. Any reserve or other cash collateral
or Letters of Credit securing the affected Crossed Trust Mortgage Loans shall
be allocated between such Trust Mortgage Loans in accordance with the Mortgage
Loan Documents. All other terms of the Trust Mortgage Loans shall remain in
full force and effect, without any modification thereof.

          In connection with any repurchase of or substitution for a Trust
Mortgage Loan contemplated by this Section 2.03, the Trustee, the Master
Servicer and the Special Servicer shall each

                                     -90-
<PAGE>

tender to the related Mortgage Loan Seller (in the event of a repurchase or
substitution by a Mortgage Loan Seller) upon delivery to each of the
Trustee, the Master Servicer and the Special Servicer of a trust receipt
executed by such Mortgage Loan Seller, all portions of the Mortgage File, the
Servicing File and other documents pertaining to such Trust Mortgage Loan
possessed by it, and each document that constitutes a part of the Mortgage
File that was endorsed or assigned to the Trustee, shall be endorsed or
assigned, as the case may be, to such Mortgage Loan Seller in the same manner
as provided in Section 7 of the related Mortgage Loan Purchase Agreement.

          Notwithstanding the foregoing, if there is a Material Breach or
Material Defect with respect to one or more Mortgaged Properties (but not all
of the Mortgaged Properties) with respect to a Trust Mortgage Loan, the
applicable Mortgage Loan Seller will not be obligated to repurchase or
substitute for the Trust Mortgage Loan if the affected Mortgaged Property may
be released pursuant to the terms of any partial release provisions in the
related Mortgage Loan Documents and the remaining Mortgaged Property(ies)
satisfy the requirements, if any, set forth in the Mortgage Loan Documents and
(i) the Mortgage Loan Seller provides an Opinion of Counsel to the effect that
such partial release would not cause an Adverse REMIC Event to occur, (ii)
such Mortgage Loan Seller pays (or causes to be paid) the applicable release
price required under the Mortgage Loan Documents and, to the extent not
covered by such release price, any additional amounts necessary to cover all
reasonable out-of-pocket expenses reasonably incurred by the Master Servicer,
the Special Servicer, the Trustee or the Trust Fund and (iii) such cure by
release of such Mortgaged Property is effected within the time periods
specified for cures of Material Breach or Material Defect in this Section
2.03(b).

          Whenever one or more Replacement Trust Mortgage Loans are
substituted for a Defective Trust Mortgage Loan by a Mortgage Loan Seller, the
Master Servicer shall direct the party effecting the substitution to deliver
the related Mortgage File to the Trustee, to certify that such Replacement
Trust Mortgage Loan satisfies or such Replacement Trust Mortgage Loans
satisfy, as the case may be, all of the requirements of the definition of
"Qualified Substitute Trust Mortgage Loan" and to send such certification to
the Trustee. No mortgage loan may be substituted for a Defective Trust
Mortgage Loan, as contemplated by this Section 2.03, if the Trust Mortgage
Loan to be replaced is the Mayfair Mall Trust Mortgage Loan or was itself a
Replacement Trust Mortgage Loan, in which case, absent a cure of the relevant
Material Breach or Material Defect, the affected Trust Mortgage Loan will be
required to be repurchased as contemplated hereby. Monthly Payments due with
respect to each Replacement Trust Mortgage Loan after the related date of
substitution, and Monthly Payments due with respect to each Trust Mortgage
Loan that is being replaced thereby after the related Due Date in September
2003 and on or prior to the related date of substitution, shall be part of the
Trust Fund. Monthly Payments due with respect to each Replacement Trust
Mortgage Loan on or prior to the related date of substitution, and Monthly
Payments due with respect to each Trust Mortgage Loan that is being replaced
thereby after the related date of substitution, shall not be part of the Trust
Fund and are to be remitted by the Master Servicer to the party effecting the
related substitution promptly following receipt.

          In the case of a Column Trust Mortgage Loan, all references in the
foregoing paragraphs of this Section 2.03(b) to "Mortgage Loan Seller" shall
be deemed to also be references to the Column Performance Guarantor (but only
if and to the extent that the Column Performance Guarantor would, pursuant to
the Column Performance Guarantee, be liable for those obligations of Column as
a Mortgage Loan Seller under the Column Mortgage Loan Purchase Agreement that
are contemplated above in this Section 2.03(b)).

                                     -91-
<PAGE>

          Section 7 of each of the Mortgage Loan Purchase Agreements and the
Column Performance Guarantee provide the sole remedy available to the
Certificateholders, or the Trustee on behalf of the Certificateholders,
respecting any Defect or Breach.

          If a Mortgage Loan Seller (and, in the case of a Column Trust
Mortgage Loan, the Column Performance Guarantor) defaults on its obligations
to repurchase any Trust Mortgage Loan as contemplated by Section 2.03(b), the
Trustee shall promptly notify the Certificateholders, the Rating Agencies, the
Master Servicer and the Special Servicer of such default. The Trustee shall
enforce the obligations of the Mortgage Loan Sellers under Section 7 of the
related Mortgage Loan Purchase Agreement and the obligations of the Column
Performance Guarantor under the Column Performance Guarantee. Such
enforcement, including, without limitation, the legal prosecution of claims,
shall be carried out in such form, to such extent and at such time as if it
were, in its individual capacity, the owner of the affected Trust Mortgage
Loan(s). The Trustee shall be reimbursed for the reasonable costs of such
enforcement: first, from a specific recovery of costs, expenses or attorneys'
fees against the defaulting Mortgage Loan Seller; second, pursuant to Section
3.05(a)(ix) out of the related Purchase Price, to the extent that such
expenses are a specific component thereof; and third, if at the conclusion of
such enforcement action it is determined that the amounts described in clauses
first and second are insufficient, then pursuant to Section 3.05(a)(x) out of
general collections on the Trust Mortgage Loans on deposit in the Collection
Account.

          If the applicable Mortgage Loan Seller or the Column Performance
Guarantor incurs any expense in connection with the curing of a Breach which
also constitutes a default under the related Trust Mortgage Loan, such
Mortgage Loan Seller or the Column Performance Guarantor, as the case may be,
shall have a right, and shall be subrogated to the rights of the Trustee, as
successor to the mortgagee, to recover the amount of such expenses from the
related Borrower; provided, however, that such Mortgage Loan Seller's or the
Column Performance Guarantor's rights pursuant to this paragraph shall be
junior, subject and subordinate to the rights of the Trust Fund to recover
amounts owed by the related Borrower under the terms of such Trust Mortgage
Loan, including the rights to recover unreimbursed Advances, accrued and
unpaid interest on Advances at the Reimbursement Rate and unpaid or
unreimbursed expenses of the Trust Fund allocable to such Trust Mortgage Loan;
and provided, further, that in the event and to the extent that such expenses
of such Mortgage Loan Seller or the Column Performance Guarantor, as the case
may be, in connection with any Trust Mortgage Loan exceed five percent of the
then outstanding principal balance of such Trust Mortgage Loan, then such
Mortgage Loan Seller's or the Column Performance Guarantor's rights to
reimbursement pursuant to this paragraph with respect to such Trust Mortgage
Loan and such excess expenses shall not (without the prior written consent of
the Master Servicer or the Special Servicer, as applicable, which shall not be
unreasonably withheld or delayed) be exercised until the payment in full of
such Trust Mortgage Loan (as such Trust Mortgage Loan may be amended or
modified pursuant to the terms of this Agreement). Notwithstanding any other
provision of this Agreement to the contrary, the Master Servicer shall not
have any obligation pursuant to this Agreement to collect such reimbursable
amounts on behalf of such Mortgage Loan Seller or the Column Performance
Guarantor, as the case may be; provided, however, that the preceding clause
shall not operate to prevent the Master Servicer from using reasonable
efforts, exercised in the Master Servicer's sole discretion, to collect such
amounts to the extent consistent with the Servicing Standard. A Mortgage Loan
Seller or the Column Performance Guarantor may pursue its rights to
reimbursement of such expenses directly against the Borrower, by suit or
otherwise; provided that (i) the Master Servicer or, with respect to a
Specially Serviced Trust Mortgage Loan, the Special Servicer determines in the
exercise of its sole discretion consistent with the Servicing Standard that
such

                                     -92-
<PAGE>

actions by the Mortgage Loan Seller or the Column Performance Guarantor,
as the case may be, will not impair the Master Servicer's and/or the Special
Servicer's collection or recovery of principal, interest and other sums due
with respect to the related Trust Mortgage Loan which would otherwise be
payable to the Master Servicer, the Special Servicer, the Trustee and the
Certificateholders pursuant to the terms of this Agreement, (ii) such actions
will not include an involuntary bankruptcy, receivership or insolvency
proceeding against the Borrower, (iii) such actions will not include the
foreclosure or enforcement of any lien or security interest under the related
Mortgage or other Mortgage Loan Documents and (iv) such actions will not
result in the imposition of an additional lien against the Mortgaged Property.

          SECTION 2.04. Creation of REMIC I; Issuance of the REMIC I Regular
                        Interests and the REMIC I Residual Interest; Certain
                        Matters Involving REMIC I.

          (a) It is the intention of the parties hereto that the following
segregated pool of assets constitute a REMIC for federal income tax purposes
and, further, that such segregated pool of assets be designated as "REMIC I":
(i) the Trust Mortgage Loans that are from time to time subject to this
Agreement, together with (A) all payments under and proceeds of such Trust
Mortgage Loans received after the Closing Date or, in the case of any such
Trust Mortgage Loan that is a Replacement Trust Mortgage Loan, after the
related date of substitution (other than scheduled payments of interest and
principal due on or before the respective Due Dates for such Trust Mortgage
Loans in September 2003 or, in the case of any such Trust Mortgage Loan that
is a Replacement Trust Mortgage Loan, on or before the related date of
substitution, and exclusive of any such amounts that constitute Excess
Servicing Strip and/or Excess Interest), and (B) all rights of the holder of
such Trust Mortgage Loans under the related Mortgage Loan Documents and in and
to any related Additional Collateral; (ii) any REO Property acquired in
respect of any Trust Mortgage Loan (exclusive of any interest therein that a
Non-Trust Companion Loan Holder may have); (iii) such funds and assets as from
time to time are deposited in the Collection Account, the Distribution
Account, the Interest Reserve Account, the Excess Liquidation Proceeds
Account, each Mortgage Loan Combination Custodial Account (insofar as it
relates to the subject Trust Mortgage Loan or any successor REO Trust Mortgage
Loan with respect thereto) and, if established, the REO Account (exclusive of
any such amounts that constitute Excess Servicing Strip and/or Excess
Interest, and further exclusive of any such amounts that are allocable to a
Non-Trust Companion Loan or any successor REO Non-Trust Companion Loan with
respect thereto); (iv) the rights of the Depositor under the respective
Mortgage Loan Purchase Agreements; and (v) the rights of the Trustee under the
Column Performance Guarantee. The Closing Date is hereby designated as the
"Startup Day" of REMIC I within the meaning of Section 860G(a)(9) of the Code.

          (b) Concurrently with the assignment to the Trustee of the Original
Trust Mortgage Loans and certain related assets, pursuant to Section 2.01(b),
and in exchange therefor, the REMIC I Regular Interests and the REMIC I
Residual Interest shall be issued. Two REMIC I Regular Interests shall be
issued with respect to the Mayfair Mall Trust Mortgage Loan, and one REMIC I
Regular Interest shall be issued with respect to each other Original Trust
Mortgage Loan. For purposes of this Agreement, each REMIC I Regular Interest
shall relate to the Original Trust Mortgage Loan in respect of which it was
issued, to each Replacement Trust Mortgage Loan (if any) substituted for such
Original Trust Mortgage Loan, and to each REO Trust Mortgage Loan deemed
outstanding with respect to any REO Property acquired in respect of such
Original Trust Mortgage Loan or any such Replacement Trust Mortgage Loan.
Neither the REMIC I Residual Interest nor any of the REMIC I Regular Interests
shall

                                     -93-
<PAGE>

be certificated. The REMIC I Regular Interests and the REMIC I Residual
Interest shall collectively constitute the entire beneficial ownership of
REMIC I.

          (c) The REMIC I Regular Interests shall constitute the "regular
interests" (within the meaning of Section 860G(a)(1) of the Code), and the
REMIC I Residual Interest shall constitute the sole "residual interest"
(within the meaning of Section 860G(a)(2) of the Code), in REMIC I. None of
the parties hereto, to the extent it is within the control thereof, shall
create or permit the creation of any other "interests" in REMIC I (within the
meaning of Treasury regulations section 1.860D-1(b)(1)).

          (d) The designations for the REMIC I Regular Interests that relate
to the Mayfair Mall Trust Mortgage Loan shall be "MM-1" and "MM-2",
respectively. The designation for each other REMIC I Regular Interest shall be
the loan number for the related Trust Mortgage Loan set forth in the Trust
Mortgage Loan Schedule.

          (e) Each REMIC I Regular Interest shall have an Uncertificated
Principal Balance. As of the Closing Date, the Uncertificated Principal
Balance of REMIC I Regular Interest MM-1 shall be the Cut-off Date Principal
Balance of the Mayfair Mall Trust Mortgage Loan (as specified in the Trust
Mortgage Loan Schedule) (net of $2,491,998, the Uncertificated Principal
Balance of REMIC I Regular Interest MM-2 shall be $2,491,998 and the
Uncertificated Principal Balance of each other REMIC I Regular Interest shall
equal the Cut-off Date Principal Balance of the related Original Trust
Mortgage Loan (as specified in the Trust Mortgage Loan Schedule). On each
Distribution Date, the Uncertificated Principal Balance of each REMIC I
Regular Interest shall be permanently reduced by any distributions of
principal deemed made with respect to such REMIC I Regular Interest on such
Distribution Date pursuant to Section 4.01(l) and, further, by any Unfunded
Principal Balance Reduction made with respect to such REMIC I Regular Interest
on such Distribution Date pursuant to Section 4.04(c). Except as provided in
the preceding sentence, the Uncertificated Principal Balance of each REMIC I
Regular Interest shall not otherwise be increased or reduced. Deemed
distributions to REMIC II in reimbursement of Unfunded Principal Balance
Reductions with respect to a REMIC I Regular Interest shall not constitute
deemed distributions of principal and shall not result in any reduction of the
Uncertificated Principal Balance of such REMIC I Regular Interest.

          (f) Each REMIC I Regular Interest shall have a REMIC I Remittance
Rate. With respect to REMIC I Regular Interest MM-2, the REMIC I Remittance
Rate for any Interest Accrual Period shall equal the product of (i) 3.076250%
per annum, multiplied by (ii) a fraction (expressed as a percentage), the
numerator of which is the number of days in such Interest Accrual Period, and
the denominator of which is 30. With respect to any other particular REMIC I
Regular Interest, the REMIC I Remittance Rate for any Interest Accrual Period
shall be calculated as follows:

               (i) if, as of the Closing Date, the related Original Trust
          Mortgage Loan bears or bore, as the case may be, interest calculated
          on a 30/360 Basis, then the REMIC I Remittance Rate with respect to
          the subject REMIC I Regular Interest for any Interest Accrual Period
          shall equal the Net Mortgage Rate in effect for the related Original
          Trust Mortgage Loan as of the Closing Date; and

               (ii) if, as of the Closing Date, the related Original Trust
          Mortgage Loan bears or bore, as the case may be, interest calculated
          on an Actual/360 Basis, then the REMIC I Remittance Rate with
          respect to the subject REMIC I Regular Interest for any Interest
          Accrual Period shall (subject to adjustment as provided below in
          this clause (ii)) equal the product of

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<PAGE>

          (A) a fraction (expressed as a percentage), the numerator of
          which is the number of days in such Interest Accrual Period, and the
          denominator of which is 30, multiplied by (B) the Net Mortgage Rate
          in effect for the related Original Trust Mortgage Loan as of the
          Closing Date (or, if the subject REMIC I Regular Interest is REMIC I
          Regular Interest MM-1, 3.076250% per annum); provided that, in the
          case of a REMIC I Regular Interest that corresponds to an Interest
          Reserve Loan, if the subject Interest Accrual Period occurs during
          the month of January of 2004 or any year thereafter or during the
          month of December of 2004 or any year thereafter that does not
          immediately precede a leap year, the REMIC I Remittance Rate with
          respect to such REMIC I Regular Interest for such Interest Accrual
          Period shall equal (M) the REMIC I Remittance Rate with respect to
          such REMIC I Regular Interest for such Interest Accrual Period,
          calculated without regard to this proviso, minus (N) a fraction
          (expressed as a percentage), the numerator of which is equal to 12
          times the related Withheld Amount that is to be transferred from the
          Distribution Account to the Interest Reserve Account on the related
          Distribution Date in accordance with Section 3.28, and the
          denominator of which is equal to the Uncertificated Principal
          Balance of such REMIC I Regular Interest outstanding immediately
          prior to the related Distribution Date; and provided, further, that,
          in the case of a REMIC I Regular Interest that corresponds to an
          Interest Reserve Loan, if the subject Interest Accrual Period occurs
          during the month of February of 2004 or any year thereafter, the
          REMIC I Remittance Rate with respect to such REMIC I Regular
          Interest for such Interest Accrual Period shall equal (S) the REMIC
          I Remittance Rate with respect to such REMIC I Regular Interest for
          such Interest Accrual Period, calculated without regard to this
          proviso, plus (T) a fraction (expressed as a percentage), the
          numerator of which is equal to 12 times any related Withheld
          Amount(s) to be transferred from the Interest Reserve Account to the
          Distribution Account pursuant to Section 3.05(c) for distribution on
          the related Distribution Date, and the denominator of which is equal
          to the Uncertificated Principal Balance of such REMIC I Regular
          Interest outstanding immediately prior to the related Distribution
          Date.

          (g) Each REMIC I Regular Interest shall bear interest, and such
interest shall commence accruing on September 1, 2003. In the case of each
REMIC I Regular Interest, such interest shall be calculated on a 30/360 Basis
and, during each Interest Accrual Period, shall accrue at the REMIC I
Remittance Rate with respect to such REMIC I Regular Interest for such
Interest Accrual Period on the Uncertificated Principal Balance of such REMIC
I Regular Interest outstanding immediately prior to the related Distribution
Date. The total amount of such interest accrued with respect to each REMIC I
Regular Interest during each Interest Accrual Period (herein referred to as
the "Interest Accrual Amount" with respect to such REMIC I Regular Interest
for such Interest Accrual Period) shall equal 1/12 of the product of (i) the
REMIC I Remittance Rate with respect to such REMIC I Regular Interest for such
Interest Accrual Period, multiplied by (ii) the Uncertificated Principal
Balance of such REMIC I Regular Interest outstanding immediately prior to the
related Distribution Date. The portion of the Interest Accrual Amount with
respect to any REMIC I Regular Interest for any Interest Accrual Period that
shall be distributable to REMIC II, as the holder of such REMIC I Regular
Interest, on the related Distribution Date pursuant to Section 4.01(l), shall
be an amount (herein referred to as the "Current Interest Distribution Amount"
with respect to such REMIC I Regular Interest for the related Distribution
Date) equal to (i) the Interest Accrual Amount with respect to such REMIC I
Regular Interest for the related Interest Accrual Period, reduced (to not less
than zero) by (ii) the portion of any Uncovered Prepayment Interest Shortfall
Amount for such Distribution Date that is allocable to such REMIC I Regular
Interest. For purposes of the foregoing, the Uncovered Prepayment Interest
Shortfall Amount, if any, for each Distribution Date shall be allocated: (i)
to

                                     -95-
<PAGE>

REMIC I Regular Interest MM-1, in an amount equal to the lesser of (A) the
Interest Accrual Amount with respect to REMIC I Regular Interest MM-1 for the
related Interest Accrual Period and (B) the product of (1) that portion, if
any, of such Uncovered Prepayment Interest Shortfall Amount that is
attributable to the Mayfair Mall Trust Mortgage Loan, multiplied by (2) a
fraction, the numerator of which is equal to the Interest Accrual Amount with
respect to REMIC I Regular Interest MM-1 for the related Interest Accrual
Period, and the denominator of which is equal to the aggregate Interest
Accrual Amount with respect to REMIC I Regular Interest MM-1 and REMIC I
Regular Interest MM-2 for the related Interest Accrual Period; (ii) to REMIC I
Regular Interest MM-2, in an amount equal to the lesser of (A) the Interest
Accrual Amount with respect to REMIC I Regular Interest MM-2 for the related
Interest Accrual Period and (B) the product of (1) that portion, if any, of
such Uncovered Prepayment Interest Shortfall Amount that is attributable to
the Mayfair Mall Trust Mortgage Loan, multiplied by (2) a fraction, the
numerator of which is equal to the Interest Accrual Amount with respect to
REMIC I Regular Interest MM-2 for the related Interest Accrual Period, and the
denominator of which is equal to the aggregate Interest Accrual Amount with
respect to REMIC I Regular Interest MM-1 and REMIC I Regular Interest MM-2 for
the related Interest Accrual Period; and (iii) to each other REMIC I Regular
Interest, in an amount equal to the lesser of (A) the Interest Accrual Amount
with respect to the subject REMIC I Regular Interest for the related Interest
Accrual Period and (B) the product of (1) the entire amount of such Uncovered
Prepayment Interest Shortfall Amount (exclusive of any portion thereof that is
allocable to REMIC I Regular Interest MM-1 and/or REMIC I Regular Interest
MM-2), multiplied by (2) a fraction, the numerator of which is equal to the
Interest Accrual Amount with respect to the subject REMIC I Regular Interest
for the related Interest Accrual Period, and the denominator of which is equal
to the aggregate Interest Accrual Amount with respect to all the REMIC I
Regular Interests (exclusive of REMIC I Regular Interest MM-1 and REMIC I
Regular Interest MM-2) for the related Interest Accrual Period. If the entire
Current Interest Distribution Amount with respect to any REMIC I Regular
Interest for any Distribution Date is not deemed distributed to REMIC II, as
the holder of such REMIC I Regular Interest, on such Distribution Date
pursuant to Section 4.01(l), then the unpaid portion of such Current Interest
Distribution Amount shall be added to, and be payable as part of, the
Carryforward Interest Distribution Amount with respect to such REMIC I Regular
Interest for future Distribution Dates. The "Carryforward Interest
Distribution Amount" with respect to any REMIC I Regular Interest for any
Distribution Date shall be an amount equal to the excess, if any, of (i) all
Current Interest Distribution Amounts with respect to such REMIC I Regular
Interest for all prior Distribution Dates, if any, over (ii) the total amount
of interest deemed distributed to REMIC II with respect to such REMIC I
Regular Interest on all such prior Distribution Dates, if any, pursuant to
Section 4.01(l).

          (h) Solely for purposes of satisfying Treasury regulations section
1.860G-1(a)(4)(iii), the Latest Possible Maturity Date for each REMIC I
Regular Interest shall be the Rated Final Distribution Date.

              (i) The REMIC I Residual Interest will not have a principal
          balance and will not bear interest.

          SECTION 2.05. Conveyance of the REMIC I Regular Interests;
                        Acceptance of the REMIC I Regular Interests by Trustee.

          The Depositor, as of the Closing Date, and concurrently with the
execution and delivery of this Agreement, does hereby assign without recourse
all of its right, title and interest in and to the REMIC I Regular Interests
to the Trustee for the benefit of the Holders of the REMIC III Regular

                                     -96-
<PAGE>

Interest Certificates and the Class R Certificates. The Trustee acknowledges
the assignment to it of the REMIC I Regular Interests and declares that it
holds and will hold the same in trust for the exclusive use and benefit of all
present and future Holders of the REMIC III Regular Interest Certificates and
the Class R Certificates.

          SECTION 2.06. Creation of REMIC II; Issuance of the REMIC II Regular
                        Interests and the REMIC II Residual Interest; Certain
                        Matters Involving REMIC II.

          (a) It is the intention of the parties hereto that the segregated
pool of assets consisting of the REMIC I Regular Interests constitute a REMIC
for federal income tax purposes and, further, that such segregated pool of
assets be designated as "REMIC II". The Closing Date is hereby designated as
the "Startup Day" of REMIC II within the meaning of Section 860G(a)(9) of the
Code.

          (b) Concurrently with the assignment of the REMIC I Regular
Interests to the Trustee pursuant to Section 2.05 and in exchange therefor,
the REMIC II Regular Interests and the REMIC II Residual Interest shall be
issued. There shall be 34 separate REMIC II Regular Interests. Neither the
REMIC II Residual Interest nor any of the REMIC II Regular Interests shall be
certificated. The REMIC II Regular Interests and the REMIC II Residual
Interest shall collectively constitute the entire beneficial ownership of
REMIC II.

          (c) The REMIC II Regular Interests shall constitute the "regular
interests" (within the meaning of Section 860G(a)(1) of the Code), and the
REMIC II Residual Interest shall constitute the sole "residual interest"
(within the meaning of Section 860G(a)(2) of the Code), in REMIC II. None of
the parties hereto, to the extent it is within the control thereof, shall
create or permit the creation of any other "interests" in REMIC II (within the
meaning of Treasury regulations section 1.860D-1(b)(1)).

          (d) The REMIC II Regular Interests will have the following
respective alphabetic or alphanumeric designations: "A-1-1", "A-1-2, "A-1-3",
"A-2-1", "A-2-2", "A-2-3", "A-3", "A-4-1", "A-4-2", "A-4-3", "A-4-4",
"A-1-A-1", "A-1-A-2", "A-1-A-3", "A-1-A-4", "A-1-A-5", "A-1-A-6", "A-1-A-7",
"A-1-A-8", "B", "C", "D", "E", "F", "G", "H", "J", "K", "L", "M", "N", "O",
"P" and "MM".

                                     -97-
<PAGE>

          (e) Each REMIC II Regular Interest shall have an Uncertificated
Principal Balance. The following table sets forth for each REMIC II Regular
Interest the initial Uncertificated Principal Balance thereof:

         Designation of                Initial Uncertificated
    REMIC II Regular Interest            Principal Balance
    ---------------------------        -----------------------

              A-1-1                       $         9,973,000
              A-1-2                       $        48,313,000
              A-1-3                       $         8,648,000
              A-2-1                       $        56,379,000
              A-2-2                       $        46,030,000
              A-2-3                       $        15,817,000
               A-3                        $        89,652,000
              A-4-1                       $        12,855,000
              A-4-2                       $        38,921,000
              A-4-3                       $        46,253,000
              A-4-4                       $       410,468,000
             A-1-A-1                      $         3,104,000
             A-1-A-2                      $        15,436,000
             A-1-A-3                      $        15,757,000
             A-1-A-4                      $        19,372,000
             A-1-A-5                      $        52,950,000
             A-1-A-6                      $        11,813,000
             A-1-A-7                      $        18,916,000
             A-1-A-8                      $       188,954,000
                B                         $        36,765,000
                C                         $        16,711,000
                D                         $        33,422,000
                E                         $        16,711,000
                F                         $        21,724,000
                G                         $        15,040,000
                H                         $        16,711,000
                J                         $        15,040,000
                K                         $         8,355,000
                L                         $         6,685,000
                M                         $        10,026,000
                N                         $         5,014,000
                O                         $         1,671,000
                P                         $        23,395,695
               MM                         $         2,491,998

          On each Distribution Date, the Uncertificated Principal Balance of
each REMIC II Regular Interest shall be permanently reduced by any
distributions of principal deemed made with respect to such REMIC II Regular
Interest on such Distribution Date pursuant to Section 4.01(k) and, further,
by any Unfunded Principal Balance Reduction made with respect to such REMIC II
Regular Interest on such Distribution Date pursuant to Section 4.04(b). Except
as provided in the preceding

                                     -98-
<PAGE>

sentence, the Uncertificated Principal Balance of each REMIC II
Regular Interest shall not otherwise be increased or decreased. Deemed
distributions to REMIC III in reimbursement of Unfunded Principal Balance
Reductions with respect to a REMIC II Regular Interest, shall not constitute
deemed distributions of principal and shall not result in any reduction of the
Uncertificated Principal Balance of such REMIC II Regular Interest.

          (f) Each REMIC II Regular Interest shall have a REMIC II Remittance
Rate that, with respect to any Interest Accrual Period, shall equal: (i) in
the case of REMIC II Regular Interest MM, the REMIC I Remittance Rate with
respect to REMIC I Regular Interest MM-2 for such Interest Accrual Period; and
(ii) in the case of each other REMIC II Regular Interest, the weighted
average, expressed as a percentage and rounded to ten decimal places, of the
respective REMIC I Remittance Rates in effect for all the REMIC I Regular
Interests (other than REMIC I Regular Interest MM-2) for such Interest Accrual
Period, weighted on the basis of the respective Uncertificated Principal
Balances of such REMIC I Regular Interests outstanding immediately prior to
the related Distribution Date.

          (g) Each REMIC II Regular Interest shall bear interest, and such
interest shall commence accruing on September 1, 2003. In the case of each
REMIC II Regular Interest, such interest shall be calculated on a 30/360 Basis
and, during each Interest Accrual Period, shall accrue at the REMIC II
Remittance Rate with respect to such REMIC II Regular Interest for such
Interest Accrual Period on the Uncertificated Principal Balance of such REMIC
II Regular Interest outstanding immediately prior to the related Distribution
Date. The total amount of such interest accrued with respect to each REMIC II
Regular Interest during each Interest Accrual Period (herein referred to as
the "Interest Accrual Amount" with respect to such REMIC II Regular Interest
for such Interest Accrual Period) shall equal 1/12 of the product of (i) the
REMIC II Remittance Rate with respect to such REMIC II Regular Interest for
such Interest Accrual Period, multiplied by (ii) the Uncertificated Principal
Balance of such REMIC II Regular Interest outstanding immediately prior to the
related Distribution Date.

          The portion of the Interest Accrual Amount with respect to any REMIC
II Regular Interest for any Interest Accrual Period that shall be
distributable to REMIC III, as the holder of such REMIC II Regular Interest,
on the related Distribution Date pursuant to Section 4.01(k), shall be an
amount (herein referred to as the "Current Interest Distribution Amount" with
respect to such REMIC II Regular Interest for the related Distribution Date)
equal to (i) the Interest Accrual Amount with respect to such REMIC II Regular
Interest for the related Interest Accrual Period, reduced (to not less than
zero) by (ii) the portion of any Uncovered Prepayment Interest Shortfall
Amount for such Distribution Date that is allocable to such REMIC II Regular
Interest. For purposes of the foregoing, the Uncovered Prepayment Interest
Shortfall Amount, if any, for each Distribution Date shall be allocated: (i)
to REMIC II Regular Interest MM, in the amount equal to the portion of such
Uncovered Prepayment Interest Shortfall Amount that was allocated to REMIC I
Regular Interest MM-2 pursuant to Section 2.04; and (ii) to each other REMIC
II Regular Interest, in an amount equal to the lesser of (A) the Interest
Accrual Amount with respect to the subject REMIC II Regular Interest for the
related Interest Accrual Period and (B) the product of (1) the entire amount
of such Uncovered Prepayment Interest Shortfall Amount (exclusive of any
portion thereof that is allocable to REMIC II Regular Interest MM), multiplied
by (2) a fraction, the numerator of which is equal to the Interest Accrual
Amount with respect to the subject REMIC II Regular Interest for the related
Interest Accrual Period, and the denominator of which is equal to the
aggregate Interest Accrual Amount with respect to all the REMIC II Regular
Interests (exclusive of REMIC II Regular Interest MM) for the related Interest
Accrual Period.

                                     -99-
<PAGE>

          If the entire Current Interest Distribution Amount with respect to
any REMIC II Regular Interest for any Distribution Date is not deemed
distributed to REMIC III, as the holder of such REMIC II Regular Interest, on
such Distribution Date pursuant to Section 4.01(k), then the unpaid portion of
such Current Interest Distribution Amount shall be added to, and be payable as
part of, the Carryforward Interest Distribution Amount with respect to such
REMIC II Regular Interest for future Distribution Dates. The "Carryforward
Interest Distribution Amount" with respect to any REMIC II Regular Interest
for any Distribution Date shall be an amount equal to the excess, if any, of
(i) all Current Interest Distribution Amounts with respect to such REMIC II
Regular Interest for all prior Distribution Dates, if any, over (ii) the total
amount of interest deemed distributed to REMIC III with respect to such REMIC
II Regular Interest on all such prior Distribution Dates, if any, pursuant to
Section 4.01(k).

          (h) Solely for purposes of satisfying Treasury regulations section
1.860G-1(a)(4)(iii), the Latest Possible Maturity Date for each REMIC II
Regular Interest shall be the Rated Final Distribution Date.

          (i) The REMIC II Residual Interest shall not have a principal
balance and shall not bear interest.

          SECTION 2.07. Conveyance of the REMIC II Regular Interests;
                        Acceptance of the REMIC II Regular Interests by Trustee.

          The Depositor, as of the Closing Date, and concurrently with the
execution and delivery of this Agreement, does hereby assign without recourse
all of its right, title and interest in and to the REMIC II Regular Interests
to the Trustee for the benefit of the Holders of the REMIC III Regular
Interest Certificates and the Class R Certificates. The Trustee acknowledges
the assignment to it of the REMIC II Regular Interests and declares that it
holds and will hold the same in trust for the exclusive use and benefit of all
present and future Holders of the REMIC III Regular Interest Certificates and
the Class R Certificates.

          SECTION 2.08. Creation of REMIC III; Issuance of the REMIC III
                        Regular Interest Certificates, the Group A-X REMIC III
                        Regular Interests, the Group A-SP REMIC III Regular
                        Interests and the REMIC III Residual Interest;
                        Certain Matters Involving REMIC III.

          (a) It is the intention of the parties hereto that the
segregated pool of assets consisting of the REMIC II Regular Interests
constitute a REMIC for federal income tax purposes and, further, that such
segregated pool of assets be designated as "REMIC III". The Closing Date is
hereby designated as the "Startup Day" of REMIC III within the meaning of
Section 860G(a)(9) of the Code.

          (b) Concurrently with the assignment of the REMIC II Regular
Interests to the Trustee pursuant to Section 2.07 and in exchange therefor,
the Group A-X REMIC III Regular Interests, the Group A-SP REMIC III Regular
Interests and the REMIC III Residual Interest shall be issued, and the Trustee
shall execute, and the Certificate Registrar shall authenticate and deliver,
to or upon the order of the Depositor, the REMIC III Regular Interest
Certificates in authorized denominations. There shall be 22 Classes of REMIC
III Regular Interest Certificates. The Class A-X Certificates shall
collectively represent all of the Group A-X REMIC III Regular Interests, and
the Class A-SP Certificates shall collectively represent all of the Group A-SP
REMIC III Regular Interests. The

                                    -100-
<PAGE>

REMIC III Residual Interest shall not be certificated. The interests
evidenced by the REMIC III Regular Interest Certificates, together with the
REMIC III Residual Interest, shall collectively constitute the entire
beneficial ownership of REMIC III.

          (c) The respective Group A-X REMIC III Regular Interests, the
respective Group A-SP REMIC III Regular Interests and the various Classes of
the Principal Balance Certificates shall constitute the "regular interests"
(within the meaning of Section 860G(a)(1) of the Code), and the REMIC III
Residual Interest shall constitute the sole "residual interest" (within the
meaning of Section 860(G)(a)(2) of the Code), in REMIC III. None of the
parties hereto, to the extent it is within the control thereof, shall create
or permit the creation of any other "interests" in REMIC III (within the
meaning of Treasury regulations section 1.860D-1(b)(1)).

          (d) The 22 Classes of the REMIC III Regular Interest Certificates
will have the following respective alphabetic or alphanumeric class
designations: "A-X", "A-SP", "A-1", "A-2", "A-3", "A-4", "A-1-A", "B", "C",
"D", "E", "F", "G", "H", "J", "K", "L", "M", "N", "O", "P" and "MM".

          The Group A-X REMIC III Regular Interests will have the following
respective alphabetic or alphanumeric designations: "A-X-A-1-1", "A-X-A-1-2",
"A-X-A-1-3", "A-X-A-2-1", "A-X-A-2-2", "A-X-A-2-3", "A-X-A-3", "A-X-A-4-1",
"A-X-A-4-2", "A-X-A-4-3", "A-X-A-4-4", "A-X-A-1-A-1", "A-X-A-1-A-2",
"A-X-A-1-A-3", "A-X-A-1-A-4", "A-X-A-1-A-5", "A-X-A-1-A-6", "A-X-A-1-A-7",
"A-X-A-1-A-8", "A-X-B", "A-X-C", "A-X-D", "A-X-E", "A-X-F", "A-X-G", "A-X-H",
"A-X-J", "A-X-K", "A-X-L", "A-X-M", "A-X-N", "A-X-O" and "A-X-P". The Group
A-X REMIC III Regular Interests shall constitute the respective Components of
the Class A-X Certificates.

          The Group A-SP REMIC III Regular Interests will have the following
respective alphabetic or alphanumeric designations: "A-SP-A-1-2",
"A-SP-A-1-3", "A-SP-A-2-1", "A-SP-A-2-2", "A-SP-A-2-3", "A-SP-A-3",
"A-SP-A-4-1", "A-SP-A-4-2", "A-SP-A-4-3", "A-SP-A-4-4", "A-SP-A-1-A-2",
"A-SP-A-1-A-3", "A-SP-A-1-A-4", "A-SP-A-1-A-5", "A-SP-A-1-A-6",
"A-SP-A-1-A-7", "A-SP-A-1-A-8", "A-SP-B" and "A-SP-C". The Group A-SP REMIC
III Regular Interests shall constitute the respective Components of the Class
A-SP Certificates.

                                    -101-
<PAGE>

          (e) Each Class of Principal Balance Certificates shall have a Class
Principal Balance. The following table sets forth for each Class of Principal
Balance Certificates the initial Class Principal Balance thereof:

                                   Initial Class
    Class Designation            Principal Balance
    ------------------           -------------------

        Class A-1                  $        66,934,000
        Class A-2                  $       118,226,000
        Class A-3                  $        89,652,000
        Class A-4                  $       508,497,000
       Class A-1-A                 $       326,302,000
         Class B                   $        36,765,000
         Class C                   $        16,711,000
         Class D                   $        33,422,000
         Class E                   $        16,711,000
         Class F                   $        21,724,000
         Class G                   $        15,040,000
         Class H                   $        16,711,000
         Class J                   $        15,040,000
         Class K                   $         8,355,000
         Class L                   $         6,685,000
         Class M                   $        10,026,000
         Class N                   $         5,014,000
         Class O                   $         1,671,000
         Class P                   $        23,395,695
         Class MM                  $         2,491,998

          On each Distribution Date, the Class Principal Balance of each Class
of Principal Balance Certificates shall be permanently reduced by any
distributions of principal made with respect to such Class of Certificates on
such Distribution Date pursuant to Section 4.01(a) or Section 4.01(b), as
applicable, and, further, by any Unfunded Principal Balance Reduction made
with respect to such Class of Certificates on such Distribution Date pursuant
to Section 4.04(a). Except as provided in the preceding sentence, the Class
Principal Balance of each Class of Principal Balance Certificates shall not
otherwise be increased or reduced. Distributions to the Holders of a Class of
Principal Balance Certificates in reimbursement of any Unfunded Principal
Balance Reductions with respect to such Class of Certificates shall not
constitute distributions of principal and shall not result in any reduction of
the related Class Principal Balance.

          The Interest Only Certificates shall not have principal balances.
For purposes of accruing interest, however, each Class of Interest Only
Certificates shall have or be deemed to have a Class Notional Amount that is,
as of any date of determination, equal to: (i) in the case of the Class A-X
Certificates, the total of the then Uncertificated Principal Balances of all
the REMIC II Regular Interests (other than REMIC II Regular Interest MM); and
(ii) in the case of the Class A-SP Certificates, the total of the then
Uncertificated Principal Balances of REMIC II Regular Interest A-1-2, REMIC II
Regular Interest A-1-3, REMIC II Regular Interest A-2-1, REMIC II Regular
Interest A-2-2, REMIC II Regular Interest A-2-3, REMIC II Regular Interest
A-3, REMIC II Regular Interest A-4-1, REMIC II Regular

                                    -102-
<PAGE>

Interest A-4-2, REMIC II Regular Interest A-4-3, REMIC II Regular
Interest A-4-4, REMIC II Regular Interest A-1-A-2, REMIC II Regular Interest
A-1-A-3, REMIC II Regular Interest A-1-A-4, REMIC II Regular Interest A-1-A-5,
REMIC II Regular Interest A-1-A-6, REMIC II Regular Interest A-1-A-7, REMIC II
Regular Interest A-1-A-8, REMIC II Regular Interest B and REMIC II Regular
Interest C.

          None of the Group A-X REMIC III Regular Interests or the Group A-SP
REMIC III Regular Interests shall have a principal balance. For purposes of
accruing interest, however, each of the Group A-X REMIC III Regular Interests
and the Group A-SP REMIC III Regular Interest shall have a Component Notional
Amount that is, as of any date of determination, equal to the Uncertificated
Principal Balance of its Corresponding REMIC II Regular Interest.

          (f) Each Class of REMIC III Regular Interest Certificates shall have
or be deemed to have a Pass-Through Rate, and each of the Group A-X REMIC III
Regular Interests and the Group A-SP REMIC III Regular Interests shall have a
REMIC III Remittance Rate.

          Each Class of Principal Balance Certificates identified in the
following table shall, for each and every Interest Accrual Period, have the
fixed Pass-Through Rates set forth next to its alphabetic or alphanumeric, as
the case may be, class designation:

           Class                   Pass-Through Rate
      -----------------------  -------------------------

            A-1                    2.6110% per annum
            A-2                    3.9080% per annum
            A-3                    4.7000% per annum

          The Pass-Through Rate for the Class A-1-A Certificates for any
Interest Accrual Period shall equal the lesser of (i) 4.8570% per annum and
(ii) the REMIC II Remittance Rate with respect to each of such Class's
Corresponding REMIC II Regular Interests for such Interest Accrual Period.

          The Pass-Through Rate for the Class A-4 Certificates for any
Interest Accrual Period shall equal the lesser of (i) 5.1370% per annum and
(ii) the REMIC II Remittance Rate with respect to each of such Class's
Corresponding REMIC II Regular Interests for such Interest Accrual Period.

          The Pass-Through Rate for the Class B Certificates for any Interest
Accrual Period shall equal the lesser of (i) 5.2530% per annum and (ii) the
REMIC II Remittance Rate with respect to REMIC II Regular Interest B for such
Interest Accrual Period.

          The Pass-Through Rate for the Class C Certificates for any Interest
Accrual Period shall equal the lesser of (i) 5.3160% per annum and (ii) the
REMIC II Remittance Rate with respect to REMIC II Regular Interest C for such
Interest Accrual Period.

          The Pass-Through Rate for the Class D Certificates for any Interest
Accrual Period shall equal the lesser of (i) 5.3530% per annum and (ii) the
REMIC II Remittance Rate with respect to REMIC II Regular Interest D for such
Interest Accrual Period.

          The Pass-Through Rate for the Class E Certificates for any Interest
Accrual Period shall equal the lesser of (i) 5.4420% per annum and (ii) the
REMIC II Remittance Rate with respect to REMIC II Regular Interest E for such
Interest Accrual Period.

                                    -103-
<PAGE>

          The Pass-Through Rates for the Class F, Class G and Class H
Certificates for any Interest Accrual Period shall, in the case of each such
Class of Certificates, equal the REMIC II Remittance Rate with respect to the
subject Class's Corresponding REMIC II Regular Interest for such Interest
Accrual Period.

          The Pass-Through Rates for the Class J, Class K, Class L, Class M,
Class N, Class O and Class P Certificates for any Interest Accrual Period
shall, in the case of each such Class of Certificates, equal the lesser of (i)
5.3220% per annum and (ii) the REMIC II Remittance Rate with respect to the
subject Class's Corresponding REMIC II Regular Interest for such Interest
Accrual Period.

          The Pass-Through Rate with respect to the Class MM Certificates for
any Interest Accrual Period shall equal the REMIC II Remittance Rate with
respect to REMIC II Regular Interest MM for such Interest Accrual Period.

          The Pass-Through Rate for the Class A-X Certificates for any
Interest Accrual Period shall be deemed to equal the weighted average,
expressed as a percentage and rounded to ten decimal places, of the respective
REMIC III Remittance Rates in effect for all of the Group A-X REMIC III
Regular Interests for such Interest Accrual Period, weighted on the basis of
the respective Component Notional Amounts of the Group A-X REMIC III Regular
Interests immediately prior to the related Distribution Date.

          The REMIC III Remittance Rate for any of the Group A-X REMIC III
Regular Interests for any Interest Accrual Period shall equal the excess, if
any, of (i) the REMIC II Remittance Rate in effect during such Interest
Accrual Period for the Corresponding REMIC II Regular Interest in respect of
such Group A-X REMIC III Regular Interest, over (ii) the Adjusted REMIC II
Remittance Rate in effect during such Interest Accrual Period for the
Corresponding REMIC II Regular Interest in respect of such Group A-X REMIC III
Regular Interest.

          The Pass-Through Rate for the Class A-SP Certificates for any
Interest Accrual Period shall be deemed to equal the weighted average,
expressed as a percentage and rounded to ten decimal places, of the respective
REMIC III Remittance Rates in effect for all of the Group A-SP REMIC III
Regular Interests for such Interest Accrual Period, weighted on the basis of
the respective Component Notional Amounts of the Group A-SP REMIC III Regular
Interests immediately prior to the related Distribution Date.

          The REMIC III Remittance Rate for any of the Group A-SP REMIC III
Regular Interests for any Interest Accrual Period shall be as follows:

               (i) if such Interest Accrual Period occurs from and including
          September 2003 through and including August 2010, a rate per annum
          equal to the excess, if any, of (i) the lesser of the REMIC II
          Remittance Rate and the Adjusted REMIC II Remittance Rate in effect
          during such Interest Accrual Period for the Corresponding REMIC II
          Regular Interest in respect of such Group A-SP REMIC III Regular
          Interest, over (B) the Alternative Adjusted REMIC II Remittance Rate
          in effect during such Interest Accrual Period for the Corresponding
          REMIC II Regular Interest in respect of such Group A-SP REMIC III
          Regular Interest; and

              (ii) if such Interest Accrual Period occurs after August 2010,
          0% per annum.

                                    -104-
<PAGE>

          (g) Each Class of REMIC III Regular Interest Certificates shall bear
interest, and such interest shall commence accruing on September 1, 2003. In
the case of each Class of REMIC III Regular Interest Certificates, such
interest shall be calculated on a 30/360 Basis and, during each Interest
Accrual Period, shall accrue at the Pass-Through Rate with respect to such
Class of Certificates for such Interest Accrual Period on the Class Principal
Balance (or, in the case of a Class of Interest Only Certificates, the Class
Notional Amount) of such Class of Certificates outstanding immediately prior
to the related Distribution Date. Accordingly, the total amount of such
interest accrued with respect to any Class of REMIC III Regular Interest
Certificates during any Interest Accrual Period (herein referred to as the
"Interest Accrual Amount" with respect to such Class of Certificates for such
Interest Accrual Period) shall equal 1/12 of the product of (i) the
Pass-Through Rate with respect to such Class of Certificates for such Interest
Accrual Period, multiplied by (ii) the Class Principal Balance (or, in the
case of a Class of Interest Only Certificates, the Class Notional Amount) of
such Class of Certificates outstanding immediately prior to the related
Distribution Date. The portion of the Interest Accrual Amount with respect to
either Class of Interest Only Certificates for any Interest Accrual Period
that is attributable to any particular Component of such Class of Certificates
shall be an amount (herein referred to as the "Interest Accrual Amount" with
respect to such Component for such Interest Accrual Period) equal to 1/12 of
the product of (i) the REMIC III Remittance Rate with respect to such
Component for such Interest Accrual Period, multiplied by (ii) the Component
Notional Amount of such Component immediately prior to the related
Distribution Date.

          The Class A-SP Certificates and the respective Group A-SP REMIC III
Regular Interests shall cease to accrue interest after the end of the August
2010 Interest Accrual Period.

          The portion of the Interest Accrual Amount with respect to any Class
of REMIC III Regular Interest Certificates for any Interest Accrual Period
that shall be distributable to the Holders of such Class of Certificates on
the related Distribution Date pursuant to Section 4.01(a) or Section 4.01(b),
as applicable, shall be an amount (herein referred to as the "Current Interest
Distribution Amount" with respect to such Class of Certificates for the
related Distribution Date) equal to (i) the Interest Accrual Amount with
respect to such Class of Certificates for the related Interest Accrual Period,
reduced (to not less than zero) by (ii) the portion of any Uncovered
Prepayment Interest Shortfall Amount for such Distribution Date that is
allocable to such Class of Certificates. For purposes of the foregoing, the
Uncovered Prepayment Interest Shortfall Amount, if any, for each Distribution
Date shall be allocated: (i) to the Class MM Certificates, in an amount equal
to the portion, if any, of such Uncovered Prepayment Interest Shortfall Amount
that was allocated to REMIC II Regular Interest MM pursuant to Section 2.06;
and (ii) to each other Class of REMIC III Regular Interest Certificates, in an
amount equal to the lesser of (A) the Interest Accrual Amount with respect to
the subject Class of REMIC III Regular Interest Certificates for the related
Interest Accrual Period and (B) the product of (1) the entire amount of such
Uncovered Prepayment Interest Shortfall Amount (exclusive of any portion
thereof that is allocable to the Class MM Certificates), multiplied by (2) a
fraction, the numerator of which is equal to the Interest Accrual Amount with
respect to the subject Class of REMIC III Regular Interest Certificates for
the related Interest Accrual Period, and the denominator of which is equal to
the aggregate Interest Accrual Amount with respect to all the Classes of REMIC
III Regular Interest Certificates (exclusive of the Class MM Certificates) for
the related Interest Accrual Period. The portion of the Current Interest
Distribution Amount with respect to either Class of Interest Only Certificates
for any Distribution Date that is attributable to any particular Component of
such Class of Certificates shall be an amount (herein referred to as the
"Current Interest Distribution Amount" with respect to such Component for such
Distribution Date) equal to (i) the Interest Accrual Amount with respect to
such Component for the

                                    -105-
<PAGE>

related Interest Accrual Period, reduced (to not less than zero) by
(ii) such Component's share of the portion of any Uncovered Prepayment
Interest Shortfall Amount for such Distribution Date that is allocable to such
Class of Certificates. For purposes of the foregoing, any portion of the
Uncovered Prepayment Interest Shortfall Amount for any Distribution Date that
is allocated to either Class of Interest Only Certificates shall in turn be
allocated among the respective Components of such Class of Certificates on a
pro rata basis in accordance with their respective Interest Accrual Amounts
for the related Interest Accrual Period.

          If the entire Current Interest Distribution Amount with respect to
any Class of REMIC III Regular Interest Certificates for any Distribution Date
is not distributed to the Holders thereof on such Distribution Date pursuant
to Section 4.01(a) or Section 4.01(b), as applicable, then the unpaid portion
of such Current Interest Distribution Amount shall be added to, and be payable
as part of, the Carryforward Interest Distribution Amount with respect to such
Class of Certificates for future Distribution Dates. The "Carryforward
Interest Distribution Amount" with respect to any Class of REMIC III Regular
Interest Certificates for any Distribution Date shall be an amount equal to
the excess, if any, of (i) all Current Interest Distribution Amounts with
respect to such Class of Certificates for all prior Distribution Dates, if
any, over (ii) the total amount of interest distributed to the Holders of such
Class of Certificates on all such prior Distribution Dates, if any, pursuant
to Section 4.01(a) or Section 4.01(b), as applicable. The portion of the
Carryforward Interest Distribution Amount with respect to either Class of
Interest Only Certificates for any Distribution Date that is attributable to
any particular Component of such Class of Certificates shall be an amount
(herein referred to as the "Carryforward Interest Distribution Amount" with
respect to such Component for such Distribution Date) equal to the excess, if
any, of (i) all Current Interest Distribution Amounts with respect to such
Component for all prior Distribution Dates, if any, over (ii) the total amount
of interest deemed distributed to the Holders of such Class of Certificates
with respect to such Component on all such prior Distribution Dates, if any,
pursuant to Section 4.01(a).

          (h) Solely for purposes of satisfying Treasury regulations section
1.860G-1(a)(4)(iii), the Latest Possible Maturity Date for each Class of
Principal Balance Certificates, for each Component of the Class A-X
Certificates and for each Component of the Class A-SP Certificates shall be
the Rated Final Distribution Date.

          (i) The REMIC III Residual Interest shall not have a principal
balance and shall not bear interest.

          SECTION 2.09. Acceptance of Grantor Trusts; Issuance of the Class V
                        and Class R Certificates.

          (a) It is the intention of the parties hereto that the segregated
pool of assets consisting of any collections of Excess Interest received on
the ARD Trust Mortgage Loans (and any successor REO Trust Mortgage Loans with
respect thereto) constitute a Grantor Trust for federal income tax purposes
and, further, that such segregated pool of assets be designated as "Grantor
Trust V". The Trustee, by its execution and delivery hereof, acknowledges the
assignment to it of the assets of Grantor Trust V and declares that it holds
and will hold such assets in trust for the exclusive use and benefit of all
present and future Holders of the Class V Certificates. Concurrently with the
assignment to it of the assets included in Grantor Trust V, the Trustee shall
execute, and the Certificate Registrar shall authenticate and deliver, to or
upon the order of the Depositor, the Class V Certificates in authorized

                                    -106-
<PAGE>

denominations evidencing the entire beneficial ownership of Grantor Trust V.
The rights of the Holders of the Class V Certificates to receive distributions
from the proceeds of Grantor Trust V, and all ownership interests of such
Holders in and to such distributions, shall be as set forth in this Agreement.

          (b) The Depositor, as of the Closing Date, and concurrently with the
execution and delivery of this Agreement, does hereby assign without recourse
all right, title and interest of the Depositor in and to the REMIC I Residual
Interest, the REMIC II Residual Interest and the REMIC III Residual Interest
to the Trustee for the benefit of the Holders of the Class R Certificates. It
is the intention of the parties hereto that the segregated pool of assets
consisting of the REMIC I Residual Interest, the REMIC II Residual Interest
and the REMIC III Residual Interest constitute a Grantor Trust for federal
income tax purposes and, further, that such segregated pool of assets be
designated as "Grantor Trust R". The Trustee, by its execution and delivery
hereof, acknowledges the assignment to it of the assets of Grantor Trust R and
declares that it holds and will hold such assets in trust for the exclusive
use and benefit of all present and future Holders of the Class R Certificates.
Concurrently with the assignment to it of the assets included in Grantor Trust
R, the Trustee shall execute, and the Certificate Registrar shall authenticate
and deliver, to or upon the order of the Depositor, the Class R Certificates
in authorized denominations evidencing the entire beneficial ownership of
Grantor Trust R. The rights of the Holders of the Class R Certificates to
receive distributions from the proceeds of Grantor Trust R, and all ownership
interests of such Holders in and to such distributions, shall be as set forth
in this Agreement.

                                    -107-
<PAGE>

                                 ARTICLE III

                ADMINISTRATION AND SERVICING OF THE TRUST FUND

          SECTION 3.01. Master Servicer to Act as Master Servicer; Special
                        Servicer to Act as Special Servicer; Administration
                        of the Mortgage Loans.

          (a) Each of the Master Servicer and the Special Servicer shall
service and administer the Mortgage Loans (and, with respect to the Special
Servicer, any REO Properties) that it is obligated to service and administer
pursuant to this Agreement on behalf of the Trustee and in the best interests
of and for the benefit of the Certificateholders or, in the case of a Mortgage
Loan Combination, in the best interests and for the benefit of the
Certificateholders and the related Non-Trust Companion Loan Holder (as a
collective whole) (as determined by the Master Servicer or the Special
Servicer, as the case may be, in its reasonable judgment), in accordance with
applicable law, the terms of this Agreement, the terms of the respective
Mortgage Loans and any and all applicable intercreditor, co-lender and similar
agreements and, to the extent consistent with the foregoing, further as
follows (the "Servicing Standard")--

               (i) (A) in 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 the customary and usual standards of practice of
          prudent institutional commercial and multifamily mortgage loan
          servicers servicing mortgage loans for third parties, and (B) 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 commercial and multifamily mortgage loans owned by the
          Master Servicer or the Special Servicer, as the case may be,
          whichever standard is higher;

               (ii) with a view to the timely recovery of all scheduled
          payments of principal and interest under the subject Mortgage Loans,
          the full collection of all Yield Maintenance Charges that may become
          payable under the subject Mortgage Loans and, in the case of the
          Special Servicer, if a Mortgage Loan comes into and continues in
          default and if, in the good faith and reasonable judgment of the
          Special Servicer, no satisfactory arrangements can be made for the
          collection of the delinquent payments, the maximization of the
          recovery on such Mortgage Loan to the Certificateholders (as a
          collective whole) (or, in the case of a Mortgage Loan Combination,
          to the Certificateholders and the related Non-Trust Companion Loan
          Holder (as a collective whole)) on a present value basis (the
          relevant discounting of anticipated collections that will be
          distributable to Certificateholders and/or a Non-Trust Companion
          Loan Holder to be performed at the related Mortgage Rate); and

              (iii) without regard to--

               (A)  any relationship that the Master Servicer or the Special
                    Servicer, as the case may be, or any Affiliate thereof may
                    have with the related Borrower, a Mortgage Loan Seller or
                    any other party to the Pooling and Servicing Agreement,

                                    -108-
<PAGE>

               (B)  the ownership of any Certificate or any interest in a
                    Non-Trust Companion Loan by the Master Servicer or the
                    Special Servicer, as the case may be, or by any Affiliate
                    thereof,

               (C)  the Master Servicer's obligation to make Advances,

               (D)  the Special Servicer's obligation to request that the
                    Master Servicer make Servicing Advances,

               (E)  the right of the Master Servicer (or any Affiliate
                    thereof) or the Special Servicer (or any Affiliate
                    thereof), as the case may be, to receive reimbursement of
                    costs, or the sufficiency of any compensation payable to
                    it, or with respect to any particular transaction,

               (F)  the ownership, servicing or management for itself or
                    others of any other mortgage loans or mortgaged properties
                    by the Master Servicer or Special Servicer or any
                    Affiliate of the Master Servicer or Special Servicer, as
                    applicable,

               (G)  any obligation of the Master Servicer or any of its
                    Affiliates (in the capacity as a Mortgage Loan Seller) to
                    cure a breach of a representation or warranty or
                    repurchase any Trust Mortgage Loan, or

               (H)  any debt that the Master Servicer or Special Servicer or
                    any Affiliate of the Master Servicer or Special Servicer,
                    as applicable, has extended to any Borrower or any
                    Affiliates of any Borrower.

          Without limiting the foregoing, subject to Section 3.21, the Special
Servicer shall be obligated to service and administer (i) any Trust Mortgage
Loans as to which a Servicing Transfer Event has occurred and is continuing
(the "Specially Serviced Trust Mortgage Loans"), together with any related
Non-Trust Companion Loans that are being serviced hereunder (collectively with
the Specially Serviced Trust Mortgage Loans, the "Specially Serviced Mortgage
Loans"), and (ii) any REO Properties. Notwithstanding the foregoing, the
Master Servicer shall continue to make all calculations, and prepare, and
deliver to the Trustee, all reports required to be prepared by the Master
Servicer hereunder with respect to the Specially Serviced Trust Mortgage Loans
as if no Servicing Transfer Event had occurred and with respect to the REO
Properties (and the related REO Trust Mortgage Loans) as if no REO Acquisition
had occurred, and to render such incidental services with respect to the
Specially Serviced Mortgage Loans and REO Properties as are specifically
provided for herein; provided, however, that the Master Servicer shall not be
liable for failure to comply with such duties insofar as such failure results
from a failure of the Special Servicer to provide sufficient information to
the Master Servicer to comply with such duties or a failure of the Special
Servicer to prepare and deliver to the Master Servicer reports required
hereunder to be delivered by the Special Servicer to the Master Servicer. Each
Trust Mortgage Loan that becomes a Specially Serviced Trust Mortgage Loan
shall continue as such until all Servicing Transfer Events have ceased to
exist with respect to such Trust Mortgage Loan. A Non-Trust Companion Loan
shall cease to be a Specially Serviced Mortgage Loan at such time as the
related Trust Mortgage Loan ceases to be a Specially Serviced Trust Mortgage
Loan. Without limiting the foregoing, subject to Section 3.21, the Master
Servicer shall be obligated to service and administer all Mortgage Loans which
are not Specially

                                    -109-
<PAGE>

Serviced Mortgage Loans; provided, however, that the Special Servicer
shall have the exclusive right to approve any draw down of funds
under any Letter of Credit provided by the related Borrower with respect to
any Trust Mortgage Loan, and to approve any modification, amendment, alteration
or renewal of such Letter of Credit, it being agreed, however, that the Master
Servicer shall provide the Special Servicer with notice of any communication
with respect to a Borrower's inability to renew any such Letter of Credit.

          (b) Subject only to the Servicing Standard and the terms of this
Agreement and of the respective Mortgage Loans, the Master Servicer and, with
respect to the Specially Serviced Mortgage Loans, the Special Servicer each
shall have full power and authority, acting alone, to do or cause to be done
any and all things in connection with such servicing and administration which
it may deem necessary or desirable. Without limiting the generality of the
foregoing, the Master Servicer and Special Servicer, each in its own name, is
hereby authorized and empowered by the Trustee and obligated to execute and
deliver, on behalf of the Certificateholders, any affected Non-Trust Companion
Loan Holder(s) and the Trustee or any of them, with respect to each Mortgage
Loan it is obligated to service under this Agreement, any and all financing
statements, continuation statements and other documents or instruments
necessary to maintain the lien created by the related Mortgage or other
security document in the related Mortgage File on the related Mortgaged
Property and related collateral; subject to Section 3.20, any and all
modifications, waivers, amendments or consents to or with respect to any
documents contained in the related Mortgage File; and any and all instruments
of satisfaction or cancellation, or of partial or full release or discharge,
and all other comparable instruments. Subject to Section 3.10, the Trustee
shall furnish, or cause to be furnished, to the Master Servicer and Special
Servicer any limited powers of attorney and other documents necessary or
appropriate to enable the Master Servicer or the Special Servicer, as the case
may be, to carry out its servicing and administrative duties hereunder;
provided, however, that the Trustee shall not be held liable for any
negligence with respect to, or misuse of, any such power of attorney by the
Master Servicer or Special Servicer.

          (c) The relationship of the Master Servicer and Special Servicer to
the Trustee under this Agreement is intended by the parties to be that of an
independent contractor and not that of a joint venturer, partner or, except as
specifically set forth herein, agent.

          (d) In the event that there shall occur an A/B Material Default with
respect to any A/B Mortgage Loan Combination, and for so long as such A/B
Material Default shall be continuing, the Master Servicer and/or the Special
Servicer, as applicable, shall be obligated to service, subject to the terms
and conditions of the related A/B Intercreditor Agreement, the related B-Note
Non-Trust Companion Loan, on behalf of the related B-Note Non-Trust Companion
Loan Holder, and all references herein to "Mortgage Loan" (and, if the related
A-Note Trust Mortgage Loan is a Specially Serviced Trust Mortgage Loan, all
references herein to "Specially Serviced Mortgage Loan") shall include a
B-Note Non-Trust Companion Loan that is being serviced under this Agreement.

          (e) For so long as the Mayfair Mall Trust Mortgage Loan or any
related REO Property is part of the Trust Fund, the Master Servicer and the
Special Servicer shall be obligated to service and administer, subject to the
terms and conditions of the Mayfair Mall Intercreditor Agreement, each Mayfair
Mall Non-Trust Companion Loan (or any successor REO Non-Trust Companion Loan
with respect thereto), on behalf of the related Mayfair Mall Non-Trust
Companion Loan Holder, and during any such period, all references herein to
"Mortgage Loan" and, if a Servicing Transfer Event exists with respect to the
Mayfair Mall Trust Mortgage Loan, all references herein to "Specially

                                    -110-
<PAGE>

Serviced Mortgage Loan" shall include each Mayfair Mall Non-Trust
Companion Loan while it is being serviced under this Agreement. In addition,
for so long as the Mayfair Mall Trust Mortgage Loan or any related REO
Property is part of the Trust Fund, the Master Servicer (if the Mayfair Mall
Trust Mortgage Loan is a Performing Trust Mortgage Loan) and the Special
Servicer (if the Mayfair Mall Trust Mortgage Loan is a Specially Serviced
Trust Mortgage Loan or if the Mayfair Mall Mortgaged Property has become an
REO Property) shall perform the obligations of the "A-2 Noteholder" under the
Mayfair Mall Intercreditor Agreement. If any Mayfair Mall Non-Trust Companion
Loan should be securitized, and rated securities should be issued in
connection therewith, then with respect to each action hereunder relating to
the Mayfair Mall Trust Mortgage Loan or any related REO Property that requires
the Master Servicer or the Special Servicer to obtain written confirmation
from either Rating Agency that such action will not result in an Adverse
Rating Event, the Master Servicer or the Special Servicer, as the case may be,
shall also obtain written confirmation (at the expense of the related Borrower
or such other securitization and not of the Trust Fund) from each rating
agency that has assigned a rating to the securities backed by such securitized
Mayfair Mall Non-Trust Companion Loan that the subject action will likewise
not result in a qualification, downgrade or withdrawal of any rating assigned
to such securities backed by such securitized Mayfair Mall Non-Trust Companion
Loan.

          (f) The Special Servicer hereunder shall collectively consist of:
(i) the party hereunder responsible for performing the duties of Special
Servicer with respect to the Mayfair Mall Mortgage Loan Combination and any
related REO Property (the "Mayfair Mall Special Servicer"); and (ii) the party
hereunder responsible for performing the duties of Special Servicer with
respect to the rest of the Mortgage Pool and any other REO Properties (the
"General Special Servicer"). For so long as the same party acts as both
Mayfair Mall Special Servicer and as General Special Servicer, the term
"Special Servicer" shall mean the Mayfair Mall Special Servicer and the
General Special Servicer, collectively. However, if different parties shall
ever act hereunder as the Mayfair Mall Special Servicer and the General
Special Servicer, respectively, then, unless the context clearly requires
otherwise: (i) when used in the context of imposing duties and obligations on
the Special Servicer hereunder or the performance of such duties and
obligations, the term "Special Servicer" shall mean the Mayfair Mall Special
Servicer, insofar as such duties and obligations relate to the Mayfair Mall
Mortgage Loan Combination or any related REO Property, and shall mean the
General Special Servicer, in all other cases (provided that, in Section 3.13,
Section 3.14 and Section 3.15, the term "Special Servicer" shall mean each of
the Mayfair Mall Special Servicer and the General Special Servicer); (ii) when
used in the context of identifying the recipient or provider of any
information, funds, documents, instruments and/or other items, the term
"Special Servicer" shall mean the Mayfair Mall Special Servicer, insofar as
such information, funds, documents, instruments and/or other items relate to
the Mayfair Mall Mortgage Loan Combination or any related REO Property, and
shall mean the General Special Servicer, in all other cases; (iii) when used
in the context of granting the Special Servicer the right to purchase
Defaulted Trust Mortgage Loans pursuant to Section 3.18, the term "Special
Servicer" shall mean the Mayfair Mall Special Servicer, if such Defaulted
Trust Mortgage Loan is the Mayfair Mall Trust Mortgage Loan, and shall mean
the General Special Servicer, in all other cases; (iv) when used in the
context of granting the Special Servicer the right to purchase all of the
Trust Mortgage Loans and any REO Properties remaining in the Trust Fund
pursuant to Section 9.01, the term "Special Servicer" shall mean the General
Special Servicer only; (v) when used in the context of granting the Special
Servicer any protections, limitations on liability, immunities and/or
indemnities hereunder, the term "Special Servicer" shall mean each of the
Mayfair Mall Special Servicer and the General Special Servicer; and (vi) when
used in the context of requiring indemnification from, imposing liability on,
or exercising any remedies against, the Special Servicer for any breach of a
representation, warranty or covenant

                                    -111-
<PAGE>

hereunder or for any negligence, bad faith or willful misconduct in the
performance of duties and obligations hereunder or any negligent disregard
of such duties and obligations or otherwise holding the Special Servicer
responsible for any of the foregoing, the term "Special Servicer" shall mean
the Mayfair Mall Special Servicer or the General Special Servicer, as
applicable. Unless the same party is, or affiliated parties are, acting as the
Mayfair Mall Special Servicer and the General Special Servicer, the Mayfair
Mall Special Servicer and the General Special Servicer shall not be
responsible for the actions of the other.

          SECTION 3.02. Collection of Mortgage Loan Payments.

          (a) The Master Servicer and Special Servicer shall make reasonable
efforts to collect all payments called for under the terms and provisions of
the Mortgage Loans it is obligated to service hereunder, and shall follow such
collection procedures as are consistent with this Agreement (including,
without limitation, the Servicing Standard). Consistent with the foregoing,
the Master Servicer or Special Servicer may in its discretion waive any
Penalty Charge in connection with any delinquent payment on a Mortgage Loan it
is obligated to service hereunder.

          (b) If the Master Servicer or Special Servicer receives, or receives
notice from the related Borrower that it will be receiving, Excess Interest on
any ARD Trust Mortgage Loan in any Collection Period, the Master Servicer or
Special Servicer, as applicable, shall promptly notify the Trustee in writing.

          (c) Neither the Master Servicer nor the Special Servicer shall
accept a Principal Prepayment of any Trust Mortgage Loan by the related
Borrower on any date other than a Due Date if accepting such payment would
cause a Prepayment Interest Shortfall, unless the Borrower is permitted to
make such prepayment pursuant to the terms of the related Mortgage Loan
Documents. If the Master Servicer or the Special Servicer accepts a Principal
Prepayment of any Trust Mortgage Loan by the Borrower on any date other than a
Due Date which causes a Prepayment Interest Shortfall (unless such Principal
Prepayment is in respect of (i) a Specially Serviced Trust Mortgage Loan, (ii)
a payment of Insurance and Condemnation Proceeds, (iii) a payment subsequent
to a default under the related Mortgage Loan Documents (provided the Master
Servicer or the Special Servicer, as applicable, reasonably believes that
acceptance of such payment is consistent with the Servicing Standard and, in
the case of the Master Servicer, the Master Servicer has obtained the consent
of the Special Servicer which shall not be unreasonably withheld or delayed
and in any event shall be deemed granted if not denied within five Business
Days), (iv) a payment pursuant to applicable law or court order, (v) a payment
the related Borrower is permitted to make under the terms of the related
Mortgage Loan Documents or (vi) a payment accepted by the Master Servicer or
the Special Servicer at the request of or with the consent of the Series
2003-C4 Directing Certificateholder), the Master Servicer or the Special
Servicer, as the case may be, shall remit to the Trustee on or before 1:00
p.m., New York City time, on the related Master Servicer Remittance Date for
deposit in the Distribution Account, immediately available funds in an amount
equal to any Prepayment Interest Shortfall resulting from such Principal
Prepayment.

          SECTION 3.03. Collection of Taxes, Assessments and Similar Items;
                        Servicing Accounts.

          (a)  The Master Servicer shall establish and maintain one or
more accounts (the "Servicing Accounts"), into which all Escrow Payments shall
be deposited and retained, and shall

                                    -112-
<PAGE>

administer such Servicing Accounts in accordance with the related
Mortgage Loan Documents. Each Servicing Account shall be maintained in
accordance with the requirements of the related Mortgage Loan and in
accordance with the Servicing Standard and to the extent not inconsistent with
the terms of the Mortgage Loans, in an Eligible Account. Funds on deposit in
the Servicing Accounts may be invested in Permitted Investments in accordance
with the provisions of Section 3.06. As and to the extent consistent with the
Servicing Standard, applicable law and the related Mortgage Loan Documents,
the Master Servicer may make withdrawals from the Servicing Accounts
maintained by it, and may apply Escrow Payments held therein with respect to
any Mortgage Loan (together with interest earned thereon), only as follows:
(i) to effect the payment of real estate taxes, assessments, insurance
premiums (including, premiums on any Environmental Insurance Policy), ground
rents (if applicable) and comparable items in respect of the related Mortgaged
Property; (ii) to reimburse the Master Servicer or the Trustee, as applicable,
for any unreimbursed Servicing Advances made thereby with respect to such
Mortgage Loan to cover any of the items described in the immediately preceding
clause (i); (iii) to refund to the related Borrower any sums as may be
determined to be overages; (iv) to pay interest or other income, if required
and as described below, to the related Borrower on balances in the Servicing
Account (or, if and to the extent not payable to the related Borrower, to pay
such interest or other income (up to the amount of any Net Investment Earnings
in respect of such Servicing Account for each Collection Period) to such
Master Servicer); (v) after an event of default, to pay the principal of,
accrued interest on and any other amounts payable with respect to such
Mortgage Loan; or (vi) to clear and terminate the Servicing Account at the
termination of this Agreement in accordance with Section 9.01. The Master
Servicer shall pay or cause to be paid to the related Borrowers interest and
other income, if any, earned on the investment of funds in Servicing Accounts
maintained thereby, if and to the extent required by law or the terms of the
related Mortgage Loan Documents. If the Master Servicer shall deposit in a
Servicing Account maintained by it any amount not required to be deposited
therein, it may at any time withdraw such amount from such Servicing Account,
any provision herein to the contrary notwithstanding. Promptly after any
Escrow Payments are received by the Special Servicer from any Borrower, and in
any event within two Business Days after any such receipt, the Special
Servicer shall remit such Escrow Payments to the applicable Master Servicer
for deposit in the applicable Servicing Account(s).

          (b) The Special Servicer, in the case of REO Properties, and the
Master Servicer, in the case of all Mortgage Loans, shall maintain accurate
records with respect to each related REO Property or Mortgaged Property, as
applicable, reflecting the status of real estate taxes, assessments and other
similar items that are or may become a lien thereon (including related penalty
or interest charges) and the status of Insurance Policy premiums and any
ground rents payable in respect thereof and the status of any Letters of
Credit. The Special Servicer, in the case of REO Properties, and the Master
Servicer, in the case of all Mortgage Loans, shall obtain all bills for the
payment of such items (including renewal premiums) and shall effect payment
thereof from the REO Account or the Servicing Accounts, as applicable, and, if
such amounts are insufficient to pay such items in full, the Master Servicer
shall make a Servicing Advance prior to the applicable penalty or termination
date, as allowed under the terms of the related Mortgage Loan and, in any
event, consistent with the Servicing Standard. Notwithstanding anything to the
contrary in the preceding sentence, with respect to Mortgage Loans that do not
provide for escrows for the payment taxes and assessments, the Master Servicer
shall make a Servicing Advance for the payment of such items upon the earlier
of (i) five Business Days after the Master Servicer has received confirmation
that such item has not been paid and (ii) the earlier of (A) 30 days after the
date such payments first become due and (B) if applicable, five Business Days
before the scheduled date of foreclosure of any lien arising from nonpayment
of such items. In no event

                                    -113-
<PAGE>

shall the Master Servicer or Special Servicer be required to make
any such Servicing Advance that would, if made, be a Nonrecoverable Servicing
Advance. To the extent that a Mortgage Loan does not require a Borrower to
escrow for the payment of real estate taxes, assessments, Insurance Policy
premiums, ground rents (if applicable) and similar items, the Master Servicer
shall use reasonable efforts consistent with the Servicing Standard to require
that payments in respect of such items be made by the Borrower at the time
they first become due.

          (c) In accordance with the Servicing Standard and for all Mortgage
Loans and REO Properties, the Master Servicer shall make a Servicing Advance
with respect to each related Mortgaged Property and each REO Property of all
such funds as are necessary for the purpose of effecting the payment of
(without duplication) (i) ground rents (if applicable), (ii) premiums on
Insurance Policies, (iii) operating, leasing, managing and liquidation
expenses for REO Properties, (iv) environmental inspections, (v) real estate
taxes, assessments and other similar items that are or may become a lien
thereon and (vi) any other amount specifically required to be paid as a
Servicing Advance hereunder, if and to the extent monies in the Servicing
Accounts are insufficient to pay such item when due and the related Borrower
has failed to pay such item on a timely basis; provided that the Master
Servicer shall not be required to make any such advance that would, if made,
constitute a Nonrecoverable Servicing Advance.

          The Special Servicer shall give the Master Servicer and the Trustee
not less than five Business Days' written notice before the date on which the
Master Servicer is required to make any Servicing Advance with respect to a
given Mortgage Loan that the Special Servicer is required to service or any
given REO Property; provided, however, that only two Business Days' notice
shall be required in respect of Servicing Advances required to be made on an
urgent or emergency basis (the Special Servicer to identify any such urgent or
emergency basis to the Master Servicer at the time it notifies the Master
Servicer of the need to make the Advance); and provided, further, that the
Special Servicer shall not be entitled to make such a request (other than for
Servicing Advances required to be made on an urgent or emergency basis) more
frequently than once per calendar month (although such request may relate to
more than one Servicing Advance). The Master Servicer may pay the aggregate
amount of such Servicing Advances listed on a monthly request to the Special
Servicer, in which case the Special Servicer shall remit such Servicing
Advances to the ultimate payees. In addition, the Special Servicer shall
provide the Master Servicer and the Trustee with such information in its
possession as the Master Servicer or the Trustee, as applicable, may
reasonably request to enable the Master Servicer or the Trustee, as
applicable, to determine whether a requested Servicing Advance would
constitute a Nonrecoverable Servicing Advance. Any request by the Special
Servicer that the Master Servicer make a Servicing Advance shall be deemed to
be a determination by the Special Servicer that such requested Servicing
Advance is not a Nonrecoverable Servicing Advance, and the Master Servicer
shall be entitled to conclusively rely on such determination; provided that
such determination shall not be binding upon the Master Servicer. On the
fourth Business Day before each Distribution Date, the Special Servicer shall
report to the Master Servicer the Special Servicer's determination as to
whether any Servicing Advance previously made with respect to a Specially
Serviced Mortgage Loan or REO Property is a Nonrecoverable Servicing Advance.
The Master Servicer shall be entitled to conclusively rely on such a
determination; provided that such determination shall not be binding upon the
Master Servicer. The Master Servicer shall not be responsible for any delay on
the part of the Special Servicer to notify the Master Servicer of any required
Servicing Advance with respect to a Specially Serviced Mortgage Loan or REO
Property.

                                    -114-
<PAGE>

          Notwithstanding anything to the contrary set forth herein, the
Master Servicer shall (at the direction of the Special Servicer, upon no less
than five Business Days' (or, if payment is required to be made on an urgent
or emergency basis as indicated by the Special Servicer, two Business Days')
prior written notice if a Specially Serviced Mortgage Loan or REO Property is
involved) pay directly out of the Collection Account any servicing expense
that, if paid by the Master Servicer or the Special Servicer, would constitute
a Nonrecoverable Servicing Advance; provided that such payment shall be made
only if the Master Servicer (or the Special Servicer, if a Specially Serviced
Mortgage Loan or REO Property is involved) has determined in accordance with
the Servicing Standard that making such payment is in the best interests of
the Certificateholders (or, in the case of a Mortgage Loan Combination, the
Certificateholders and the related Non-Trust Companion Loan Holder(s)) (as a
collective whole), as evidenced by an Officer's Certificate promptly delivered
by the Master Servicer or the Special Servicer, as applicable, to the Trustee,
the Depositor, each Rating Agency, the Series 2003-C4 Directing
Certificateholder, any Requesting Subordinate Certificateholder and any
affected Non-Trust Companion Loan Holder, setting forth the basis for such
determination and accompanied by any information that the Master Servicer or
the Special Servicer may have obtained that supports such determination; and
provided, further, that, if a Mortgage Loan Combination is involved, and if
and to the extent that funds are available in the related Mortgage Loan
Combination Custodial Account, such payment shall be made from such related
Mortgage Loan Combination Custodial Account.

          All such Servicing Advances and interest thereon shall be
reimbursable in the first instance from related collections from the Borrowers
and further as provided in Sections 3.04 and 3.05. No costs incurred by the
Master Servicer or Special Servicer in effecting the payment of real estate
taxes, assessments and, if applicable, ground rents on or in respect of the
Mortgaged Properties shall, for purposes of calculating monthly distributions
to Certificateholders, be added to the unpaid principal balances of the
related Trust Mortgage Loans, notwithstanding that the terms of such Trust
Mortgage Loans so permit.

          If the Master Servicer is required under any provision of this
Agreement to make a Servicing Advance, but it does not do so when such Advance
is required to be made, the Trustee shall, if it has actual knowledge of such
failure on the part of the Master Servicer, give written notice of such
failure to the Master Servicer. If such Servicing Advance is not made by the
Master Servicer within three Business Days after such notice is given to the
Master Servicer, then (subject to Section 7.05) the Trustee shall, within one
Business Day thereafter, make such Servicing Advance.

          Notwithstanding anything herein to the contrary, all Servicing
Advances made in respect of the Mayfair Mall Mortgage Loan Combination (or any
related REO Property) shall be deemed made on a pro rata basis (by balance) on
the Mayfair Mall Trust Mortgage Loan (or any successor REO Trust Mortgage Loan
with respect thereto) and the respective Mayfair Mall Non-Trust Companion
Loans (or any successor REO Non-Trust Companion Loans with respect thereto).
Any Servicing Advances made or deemed made in respect of any Mayfair Mall
Non-Trust Companion Loan (or any successor REO Non-Trust Companion Loan with
respect thereto) shall only be reimbursable hereunder out of amounts allocable
to such Mayfair Mall Non-Trust Companion Loan (or any successor REO Non-Trust
Companion Loan with respect thereto); provided that Servicing Advances made or
deemed made in respect of any Mayfair Mall Non-Trust Companion Loan may also
be reimbursed out of amounts received from the related Mayfair Mall Non-Trust
Companion Loan Holder as and to the extent contemplated by the Mayfair Mall
Intercreditor Agreement.

                                    -115-
<PAGE>

          (d) In connection with its recovery of any Servicing Advance out of
the Collection Account pursuant to clauses (v) or (vi) of Section 3.05(a),
from a Mortgage Loan Combination Custodial Account pursuant to Section 3.04 or
from a Servicing Account pursuant to Section 3.03(a)(ii), the Master Servicer
and the Trustee shall each be entitled to receive, first out of any Penalty
Charges with respect to the related Mortgage Loan or REO Mortgage Loan, and
then out of any other amounts then on deposit in the Collection Account,
interest at the Reimbursement Rate in effect from time to time, accrued on the
amount of such Servicing Advance from and including the date made to, but not
including, the date of reimbursement; provided that any such interest with
respect to any Servicing Advances made or deemed made with respect to any
Mayfair Mall Non-Trust Companion Loan or any successor REO Non-Trust Companion
Loan with respect thereto that is not so payable out of related Penalty
Charges, shall be payable, after such Servicing Advance is reimbursed, out of
any other collections on such Mortgage Loan or REO Mortgage Loan, as the case
may be, on deposit in the Mayfair Mall Custodial Account (but in no event out
of the Trust Fund) (except that this provision is in no way intended to limit
any rights that the Master Servicer or the Trustee may have to receive payment
for such interest on such Servicing Advances from the related Mayfair Mall
Non-Trust Companion Loan Holder under the Mayfair Mall Intercreditor
Agreement); and provided, further, that any such interest earned on any
Servicing Advances made with respect to either Mortgage Loan of an A/B
Mortgage Loan Combination or with respect to any REO Property related to an
A/B Mortgage Loan Combination shall be payable out of the related A/B Mortgage
Loan Combination Custodial Account, to the maximum extent permitted by the
related A/B Intercreditor Agreement, before being paid out of general
collections on the Mortgage Pool on deposit in the Collection Account; and
provided, further, that the Master Servicer shall not be entitled to interest
on any Servicing Advance made thereby to the extent a payment that may be
applied to reimburse such Servicing advance is received but is being held by
or on behalf of the Master Servicer in suspense. The Master Servicer shall
reimburse itself or the Trustee, as the case may be, for any outstanding
Servicing Advance made by the Master Servicer or the Trustee as soon as
practically possible after funds available for such purpose are deposited in
the Collection Account or, if applicable, the related Mortgage Loan
Combination Custodial Account; provided that, upon a determination that a
previously made Servicing Advance is a Nonrecoverable Servicing Advance with
respect to any Trust Mortgage Loan or REO Trust Mortgage Loan, instead of
obtaining reimbursement out of general collections on the Mortgage Pool
immediately, the Master Servicer or the Trustee, as applicable, may, in its
sole discretion, elect to obtain reimbursement for such Nonrecoverable
Servicing Advance over a period of time (not to exceed 12 months), with
interest thereon at the Reimbursement Rate (except that at any time after such
a determination to obtain reimbursement over time in accordance with this
proviso, the Master Servicer or the Trustee, as applicable, may, in its sole
discretion, decide to obtain reimbursement from general collections on the
Mortgage Pool immediately). The fact that a decision to recover any
Nonrecoverable Servicing Advance over time, or not to do so, benefits some
Classes of Certificateholders to the detriment of other Classes shall not
constitute a violation of the Servicing Standard by the Master Servicer or a
breach of any fiduciary duty owed to the Certificateholders by the Trustee, or
a breach of any other contractual obligation owed to the Certificateholders by
any party to this Agreement.

          (e) To the extent an operations and maintenance plan is required to
be established and executed pursuant to the terms of a Trust Mortgage Loan,
the Master Servicer or, with respect to Specially Serviced Trust Mortgage
Loans, the Special Servicer shall request from the Borrower written
confirmation thereof within a reasonable time after the later of the Closing
Date and the date as of which such plan is required to be established or
completed. To the extent any repairs, capital improvements, actions or
remediations are required to have been taken or completed pursuant to the
terms of the Trust

                                    -116-
<PAGE>

Mortgage Loan, the Master Servicer or, with respect to Specially Serviced
Trust Mortgage Loans, the Special Servicer shall request from the
Borrower written confirmation of such actions and remediations within a
reasonable time after the later of the Closing Date and the date as of which
such action or remediations are required to be or to have been taken or
completed. To the extent a Borrower fails to promptly respond to any inquiry
described in this Section 3.03(e), the Master Servicer (with respect to Trust
Mortgage Loans that are not Specially Serviced Trust Mortgage Loans) shall
determine whether the related Borrower has failed to perform its obligations
under the subject Trust Mortgage Loan and report any such failure to the
Special Servicer within a reasonable time after the date as of which such
operations and maintenance plan is required to be established or executed or
the date as of which such actions or remediations are required to be or to
have been taken or completed.

          SECTION 3.04. The Collection Account, Distribution Account, Excess
                        Interest Distribution Account, Excess Liquidation
                        Proceeds Account, Mayfair Mall Custodial Account
                        and A/B Mortgage Loan Combination Custodial Accounts.

          (a) The Master Servicer shall establish and maintain, or cause to be
established and maintained, the Collection Account, into which the Master
Servicer shall deposit or cause to be deposited on a daily basis (and, subject
to Section 3.04(e) and Section 3.04(f), in no event later than the Business
Day following receipt of available funds), except as otherwise specifically
provided herein, the following payments and collections received after the
Cut-off Date (other than payments of principal and interest on the Trust
Mortgage Loans due and payable on or before the Cut-off Date) and payments
(other than Principal Prepayments) received by it on or prior to the Cut-off
Date but allocable to a period subsequent thereto:

               (i) all payments (from whatever source) on account of
          principal, including Principal Prepayments, on the Trust Mortgage
          Loans (including from a debt service reserve account or any party
          exercising cure rights); and

              (ii) all payments (from whatever source) on account of
          interest, including Default Interest and Excess Interest, Yield
          Maintenance Charges and late payment charges on the Trust Mortgage
          Loans (including from a debt service reserve account or any party
          exercising cure rights); and

             (iii) all Insurance and Condemnation Proceeds and Liquidation
          Proceeds received in respect of any Trust Mortgage Loan (other than
          Liquidation Proceeds that are to be deposited in the Distribution
          Account or the Excess Interest Distribution Account, or remitted to
          a Non-Trust Companion Loan Holder, pursuant to Section 9.01); and

              (iv) any amounts required to be transferred to the Collection
          Account from the REO Account pursuant to Section 3.16(c), from an
          A/B Mortgage Loan Combination Custodial Account pursuant to Section
          3.04(e) or from the Mayfair Mall Custodial Account pursuant to
          Section 3.04(f); and

               (v) any amounts required to be deposited by the Master Servicer
          pursuant to Section 3.06 in connection with losses incurred with
          respect to Permitted Investments of funds held in the Collection
          Account; and

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              (vi) any amounts required to be deposited by the Master
          Servicer or the Special Servicer pursuant to Section 3.07(b) in
          connection with losses resulting from a deductible clause in a
          blanket hazard policy or master single interest policy.

          The foregoing requirements for deposit by the Master Servicer in the
Collection Account shall be exclusive, it being understood and agreed that
actual payments from Borrowers in the nature of Escrow Payments, charges for
beneficiary statements or demands, assumption fees, modification fees,
extension fees, amounts collected for Borrower checks returned for
insufficient funds or other amounts that the Master Servicer or the Special
Servicer is entitled to retain as additional servicing compensation pursuant
to Section 3.11 need not be deposited by the Master Servicer in the Collection
Account. If the Master Servicer shall deposit in the Collection Account any
amount not required to be deposited therein, then (notwithstanding anything
herein to the contrary) it may at any time withdraw such amount from the
Collection Account.

          Within one Business Day of receipt of any of the amounts described
in clauses (i) - (iii) of the second preceding paragraph with respect to any
Specially Serviced Trust Mortgage Loan, the Special Servicer shall remit such
amounts to the Master Servicer for deposit into the Collection Account in
accordance with the second preceding paragraph (or, if such Specially Serviced
Trust Mortgage Loan is part of a Mortgage Loan Combination, into the related
Mortgage Loan Combination Custodial Account in accordance with Section 3.04(e)
or Section 3.04(f), as applicable). Any amounts received by the Special
Servicer with respect to an REO Property shall be deposited into the REO
Account and remitted to the Master Servicer for deposit into the Collection
Account (or, if such REO Property relates to a Mortgage Loan Combination, into
the related Mortgage Loan Combination Custodial Account) pursuant to Section
3.16(c).

          (b) The Trustee shall establish and maintain the Distribution
Account in trust for the benefit of the Certificateholders. The Trustee shall
make deposits in and withdrawals from the Distribution Account in accordance
with the terms of this Agreement. The Master Servicer shall deliver to the
Trustee each month on or before 1:00 p.m., New York City time, on the Master
Servicer Remittance Date, for deposit in the Distribution Account, that
portion of the Available Distribution Amount (calculated without regard to
clauses (a)(iv), (a)(vii), (d), (e), (f) and (g) of the definition thereof)
for the related Distribution Date then on deposit in the Collection Account
maintained by the Master Servicer.

          Subject to Section 3.05, the Master Servicer (or, in the case of
clause (iv) below, the Master Servicer or the Special Servicer, as
applicable), shall, as and when required hereunder, deliver to the Trustee for
deposit in the Distribution Account:

               (i) any P&I Advances required to be made by the Master Servicer
          in accordance with Section 4.03 (or, if the Trustee succeeds to the
          Master Servicer's obligations hereunder, Section 7.05) with respect
          to the Mortgage Pool;

              (ii) any Liquidation Proceeds paid by the Master Servicer in
          connection with the purchase of all of the Trust Mortgage Loans and
          any REO Properties in the Trust Fund pursuant to Section 9.01
          (exclusive of that portion thereof required to be deposited in the
          Collection Account or the Excess Interest Distribution Account, or
          remitted to a Non-Trust Companion Loan Holder, pursuant to Section
          9.01);

                                    -118-
<PAGE>

             (iii) any Yield Maintenance Charges on the Trust Mortgage Loans
          and REO Trust Mortgage Loans (without duplication of the amount
          thereof included in the Available Distribution Amount);

              (iv) any payments required to be made by the Master Servicer
          and/or the Special Servicer pursuant to Section 3.02(c).

               (v) any other amounts required to be so delivered by the Master
          Servicer for deposit in the Distribution Account pursuant to any
          provision of this Agreement.

          The Trustee shall, upon receipt, deposit in the Distribution Account
any and all amounts received by the Trustee that are required by the terms of
this Agreement to be deposited therein (including the withdrawal amount from
the Interest Reserve Account pursuant to Section 3.28(b) and such amount from
the Excess Liquidation Proceeds Account as required pursuant to Section
3.04(d)) and any amounts required to be deposited by the Trustee pursuant to
Section 3.06 in connection with losses incurred with respect to Permitted
Investments of funds held in the Distribution Account.

          (c) Prior to the Master Servicer Remittance Date relating to any
Collection Period in which Excess Interest is received on any ARD Trust
Mortgage Loan, the Trustee shall establish and maintain the Excess Interest
Distribution Account in the name of the Trustee for the benefit of the Holders
of the Class V Certificates. The Excess Interest Distribution Account shall be
established and maintained as an Eligible Account or, subject to Section
3.04(h), a subaccount of an Eligible Account. On or before each Master
Servicer Remittance Date, the Master Servicer shall remit to the Trustee for
deposit in the Excess Interest Distribution Account an amount equal to the
Excess Interest received on the respective ARD Trust Mortgage Loans (or any
successor REO Trust Mortgage Loans with respect thereto) during the related
Collection Period. On each Distribution Date, the Trustee shall withdraw the
Excess Interest on deposit therein from the Excess Interest Distribution
Account for distribution pursuant to Section 4.01(e). On each Distribution
Date, the Trustee shall deposit any Net Investment Loss into the Excess
Interest Distribution Account and shall be permitted to withdraw any Net
Investment Earnings from the Excess Interest Distribution Account. Following
the distribution of Excess Interest to Holders of the Class V Certificates on
the first Distribution Date after which no ARD Trust Mortgage Loan and no
successor REO Trust Mortgage Loan with respect to an ARD Trust Mortgage Loan
remains part of the Mortgage Pool, the Trustee shall terminate the Excess
Interest Distribution Account.

          (d) If any Excess Liquidation Proceeds are received, the Trustee
shall establish and maintain one or more accounts (collectively, the "Excess
Liquidation Proceeds Account") to be held in trust for the benefit of the
Certificateholders. Each account that constitutes the Excess Liquidation
Proceeds Account shall be an Eligible Account and, subject to Section 3.04(h),
may be a sub-account of the same Eligible Account as the Distribution Account.
By 1:00 p.m., New York City time, on each Master Servicer Remittance Date, the
Master Servicer shall withdraw from the Collection Account and remit to the
Trustee for deposit in the Excess Liquidation Proceeds Account all Excess
Liquidation Proceeds received during the Collection Period ending on the
Determination Date immediately prior to such Master Servicer Remittance Date.

          On the Business Day prior to each Distribution Date, the Trustee
shall withdraw from the Excess Liquidation Proceeds Account and deposit in the
Distribution Account, for distribution on such Distribution Date, an amount
equal to the lesser of (i) the entire amount, if any, then on deposit in the

                                    -119-
<PAGE>

Excess Liquidation Proceeds Account and (ii) the excess, if any, of the
aggregate amount distributable with respect to the REMIC III Regular Interest
Certificates on such Distribution Date pursuant to Sections 4.01(a) and
4.01(b), over the Available Distribution Amount for such Distribution Date
(calculated without regard to such transfer from the Excess Liquidation
Proceeds Account to the Distribution Account); provided that on the Business
Day prior to the Final Distribution Date, the Trustee shall withdraw from the
Excess Liquidation Proceeds Account and deposit in the Distribution Account,
for distribution on such Distribution Date, any and all amounts then on
deposit in the Excess Liquidation Proceeds Account. On the Business Day prior
to each Distribution Date, the Trustee shall deposit any Net Investment Loss
into the Excess Liquidation Proceeds Account and shall be permitted to
withdraw any Net Investment Earnings from the Excess Liquidation Proceeds
Account.

          (e) If any A/B Material Default occurs and is continuing (and, as a
result, the related B-Note Non-Trust Companion Loan is being serviced
hereunder), or if the Mortgaged Property securing any A/B Mortgage Loan
Combination has become REO Property, the Master Servicer shall establish and
maintain, or cause to be established and maintained, an A/B Mortgage Loan
Combination Custodial Account, into which the Master Servicer shall deposit or
cause to be deposited on a daily basis (and in no event later than the
Business Day following the receipt of available funds), except as otherwise
specifically provided herein, the following payments and collections received
after the Cut-off Date (other than payments of principal and interest on the
applicable A/B Mortgage Loan Combination due and payable on or before the
Cut-off Date) and payments (other than Principal Prepayments) received by it
on or prior to the Cut-off Date but allocable to a period subsequent thereto:

               (i) all payments (from whatever source) on account of
          principal, including Principal Prepayments, on such A/B Mortgage
          Loan Combination (including from a debt service reserve account or
          any party exercising cure rights); and

              (ii) all payments (from whatever source) on account of
          interest, including Default Interest and Excess Interest, Yield
          Maintenance Charges and late payment charges on such A/B Mortgage
          Loan Combination (including from a debt service reserve account or
          any party exercising cure rights); and

              (iii) all Insurance and Condemnation Proceeds received in
          respect of such A/B Mortgage Loan Combination; and

               (iv) all Liquidation Proceeds of the type described in clauses
          (i) and (ii) of the definition of Liquidation Proceeds; and

                (v) any amounts required to be transferred to such A/B Mortgage
          Loan Combination Custodial Account from the REO Account pursuant to
          Section 3.16(c);

               (vi) any amounts required to be deposited by the Master
          Servicer pursuant to Section 3.06 in connection with losses incurred
          with respect to Permitted Investments of funds held in such A/B
          Mortgage Loan Combination Custodial Account; and

              (vii) any amounts required to be deposited by the Master
          Servicer or the Special Servicer pursuant to Section 3.07(b) in
          connection with losses on such A/B Mortgage Loan Combination
          resulting from a deductible clause in a blanket hazard policy or
          master single interest policy.

                                    -120-
<PAGE>

          The foregoing requirements for deposit by the Master Servicer in an
A/B Mortgage Loan Combination Custodial Account shall be exclusive, it being
understood and agreed that actual payments from a Borrower in the nature of
Escrow Payments, charges for beneficiary statements or demands, assumption
fees, modification fees, extension fees, amounts collected for Borrower checks
returned for insufficient funds or other amounts that the Master Servicer or
the Special Servicer is entitled to retain as additional servicing
compensation pursuant to Section 3.11 need not be deposited by the Master
Servicer in such A/B Mortgage Loan Combination Custodial Account. If the
Master Servicer shall deposit in any A/B Mortgage Loan Combination Custodial
Account any amount not required to be deposited therein, then (notwithstanding
anything herein to the contrary) it may at any time withdraw such amount from
such A/B Mortgage Loan Combination Custodial Account.

          Within one Business Day of receipt of any of the amounts described
in clauses (i) - (iv) of the second preceding paragraph with respect to any
Specially Serviced Mortgage Loan that is part of an A/B Mortgage Loan
Combination during the period that the related B-Note Non-Trust Companion Loan
is being serviced hereunder, the Special Servicer shall remit such amounts to
the Master Servicer for deposit in the related A/B Mortgage Loan Combination
Custodial Account pursuant to the second preceding paragraph. Any amounts
received by the Special Servicer with respect to an REO Property that relates
to an A/B Mortgage Loan Combination shall be deposited into the REO Account
and remitted to the Master Servicer for deposit into the related A/B Mortgage
Loan Combination Custodial Account pursuant to Section 3.16(c).

          If any B-Note Non-Trust Companion Loan is being serviced hereunder,
or if the Mortgaged Property securing any A/B Mortgage Loan Combination has
become REO Property, then as and when required pursuant to the related A/B
Intercreditor Agreement (and in any event on the Business Day following each
Determination Date), the Master Servicer shall withdraw from the related A/B
Mortgage Loan Combination Custodial Account and pay to the applicable parties
hereunder such amounts as is permitted under the related A/B Intercreditor
Agreement for purposes of the reimbursement of Advances, the payment of
interest on Advances, the payment of Master Servicing Fees, Special Servicing
Fees, Workout Fees and Liquidation Fees and the payment of any other servicing
expenses and fees relating to the subject A/B Mortgage Loan Combination or any
related REO Property and, further, pay to the Trust, as "A Note Holder" under
the related A/B Intercreditor Agreement, and to the B-Note Non-Trust Companion
Loan Holder all amounts to which each of them is entitled in respect of the
subject A-Note Trust Mortgage Loan and B-Note Non-Trust Companion Loan,
respectively, in accordance with the related A/B Intercreditor Agreement. The
foregoing payments shall be made in accordance with the priorities set forth
in the related A/B Intercreditor Agreement. Payments to the Trust shall be
made by transfer of the applicable funds to the Collection Account, and
payments to the B-Note Non-Trust Companion Loan Holder shall be made in
accordance with the related A/B Intercreditor Agreement.

          The Master Servicer may pay itself monthly any Net Investment
Earnings with respect to an A/B Mortgage Loan Combination Custodial Account.

                                    -121-
<PAGE>

          (f) The Master Servicer shall establish and maintain, or cause to be
established and maintained, the Mayfair Mall Custodial Account, into which the
Master Servicer shall deposit or cause to be deposited on a daily basis (and
in no event later than the Business Day following its receipt of available
funds) the following payments and collections received after the Closing Date:

               (i) all payments (from whatever source) on account of
          principal, including Principal Prepayments, on the Mayfair Mall
          Mortgage Loan Combination (including from a debt service reserve
          account or in the form of Mayfair Mall Cure Payments);

              (ii) all payments (from whatever source) on account of
          interest, including Default Interest and Excess Interest, Yield
          Maintenance Charges and late payment charges on the Mayfair Mall
          Mortgage Loan Combination (including from a debt service reserve
          account or in the form of Mayfair Mall Cure Payments);

              (iii) all Insurance and Condemnation Proceeds received in
          respect of the Mayfair Mall Mortgage Loan Combination;

               (iv) all Liquidation Proceeds of the type described in clauses
          (i) and (ii) of the definition of "Liquidation Proceeds" in respect
          of the Mayfair Mall Mortgage Loan Combination;

               (v) any amounts required to be transferred to the Mayfair Mall
          Custodial Account from the REO Account pursuant to Section 3.16(c);

              (vi) any amounts required to be deposited in the Mayfair Mall
          Custodial Account by the Master Servicer pursuant to Section 3.06 in
          connection with losses incurred with respect to Permitted
          Investments of funds held in the Mayfair Mall Custodial Account; and

             (vii) any amounts required to be deposited by the Master
          Servicer or the Special Servicer pursuant to Section 3.07(b) in
          connection with losses on the Mayfair Mall Mortgage Loan Combination
          resulting from a deductible clause in a blanket hazard policy or
          master single interest policy.

          The foregoing requirements for deposit by the Master Servicer in the
Mayfair Mall Custodial Account shall be exclusive, it being understood and
agreed that actual payments from the Borrower in the nature of Escrow
Payments, charges for beneficiary statements or demands, assumption fees,
modification fees, extension fees, amounts collected for Borrower checks
returned for insufficient funds or other amounts that the Master Servicer or
the Special Servicer is entitled to retain as additional servicing
compensation pursuant to Section 3.11 need not be deposited by the Master
Servicer in the Mayfair Mall Custodial Account. If the Master Servicer shall
deposit in the Mayfair Mall Custodial Account any amount not required to be
deposited therein, then (notwithstanding anything herein to the contrary) it
may at any time withdraw such amount from the Mayfair Mall Custodial Account.

          As and when required pursuant to the Mayfair Mall Intercreditor
Agreement (and in any event during each month not later than the Business Day
following each Determination Date), the Master Servicer shall withdraw from
the Mayfair Mall Custodial Account and pay or reimburse such amounts as is
permitted under the related Mayfair Mall Intercreditor Agreement for purposes
of the reimbursement of Advances, the payment of interest on Advances, the
payment of Master Servicing

                                    -122-
<PAGE>

Fees, Special Servicing Fees, Workout Fees, Liquidation Fees and other
permitted servicing compensation and the payment of any other servicing
expenses and fees relating to the Mayfair Mall Trust Mortgage Loan (or any
successor REO Trust Mortgage Loan with respect thereto) and each Mayfair Mall
Non-Trust Companion Loan (or any successor REO Non-Trust Companion Loan with
respect thereto), respectively (such payments and reimbursements to be made in
a manner consistent with how they would be made from the Collection Account in
respect of Trust Mortgage Loans and REO Trust Mortgage Loans), and, further,
pay to the Trust, as holder of the Mayfair Mall Trust Mortgage Loan under the
related Mayfair Mall Intercreditor Agreement, and to the respective Mayfair
Mall Non-Trust Companion Loan Holders, all amounts to which each of them is
entitled in respect of the Mayfair Mall Trust Mortgage Loan (or any successor
REO Trust Mortgage Loan with respect thereto) and the respective Mayfair Mall
Non-Trust Companion Loans (or any successor REO Non-Trust Companion Loans with
respect thereto), respectively, in accordance with the related Mayfair Mall
Intercreditor Agreement. The foregoing payments shall be made in accordance
with the Mayfair Mall Intercreditor Agreement. Payments to the Trust shall be
made by transfer of the applicable funds to the Collection Account, and
payments to each Mayfair Mall Non-Trust Companion Loan Holder shall be made in
accordance with the Mayfair Mall Intercreditor Agreement. Notwithstanding
anything herein to the contrary, all Servicing Advances made in respect of the
Mayfair Mall Mortgage Loan Combination or any related REO Property shall be
deemed to be made on a pro rata basis (by balance) on the Mayfair Mall Trust
Mortgage Loan or any related REO Trust Mortgage Loan and each Mayfair Mall
Non-Trust Companion Loan or any related REO Non-Trust Companion Loan,
respectively. Servicing Advances made or deemed made in respect of any Mayfair
Mall Non-Trust Companion Loan (or any successor REO Non-Trust Companion Loan
with respect thereto) may only be reimbursed hereunder, and interest on those
Advances may only be paid hereunder, from amounts received in respect of such
Mayfair Mall Non-Trust Companion Loan or any related REO Non-Trust Companion
Loan; provided that Servicing Advances made or deemed made in respect of any
Mayfair Mall Non-Trust Companion Loan (or any successor REO Non-Trust
Companion Loan with respect thereto) may also be reimbursed (together with
interest thereon) out of amounts received from the related Mayfair Mall
Non-Trust Companion Loan Holder as and to the extent contemplated by the
Mayfair Mall Intercreditor Agreement. No amounts may be withdrawn from the
Collection Account to pay for the reimbursement of Servicing Advances made or
deemed made in respect of any Mayfair Mall Non-Trust Companion Loan or any
related REO Non-Trust Companion Loan or to pay Advance Interest on those
Advances. The Master Servicer shall seek reimbursement (with interest) from
the respective Mayfair Mall Non-Trust Companion Loan Holders for any Servicing
Advances made in respect of the Mayfair Mall Mortgage Loan Combination or any
related REO Property for which it is entitled to reimbursement from them
pursuant to the Mayfair Mall Intercreditor Agreement.

          The Master Servicer may pay itself monthly any Net Investment
Earnings with respect to the Mayfair Mall Custodial Account.

          Subject to Section 3.8.4 of the Mayfair Mall Intercreditor
Agreement, the Master Servicer may make withdrawals from the Mayfair Mall
Custodial Account to reimburse Mayfair Mall Cure Payments in respect of the
Mayfair Mall Mortgage Loan Combination, to the extent not otherwise
reimbursable hereunder.

          (g)  Funds on deposit in the Collection Account and any Mortgage
Loan Combination Custodial Account may be invested only in Permitted
Investments in accordance with the provisions of Section 3.06. Funds on
deposit in the Distribution Account, the Excess Interest Distribution Account

                                    -123-
<PAGE>

and the Excess Liquidation Proceeds Account may be invested only in Permitted
Investments in accordance with the provisions of Section 3.06. The Master
Servicer shall give notice to the Trustee, the Special Servicer, the Rating
Agencies and the Depositor of the location of the Collection Account and any
Mortgage Loan Combination Custodial Account when first established and prior
to any change thereof. As of the Closing Date (or the date such account is
established, if later), the Distribution Account, the Excess Liquidation
Proceeds Account and the Excess Interest Distribution Account shall be located
at the offices of the Trustee. The Trustee shall give notice to the Master
Servicer and the Depositor of any new location of the Distribution Account,
the Excess Liquidation Proceeds Account or the Excess Interest Distribution
Account, prior to any change thereof.

          (h) Notwithstanding the foregoing or any other provision to the
contrary in this Agreement, the Master Servicer may maintain the Collection
Account, the Mayfair Mall Custodial Account and the respective A/B Mortgage
Loan Combination Custodial Accounts as multiple separate sub-accounts of a
single Eligible Account; provided that: (i) all deposits into and withdrawals
from such single Eligible Account shall be made in the same manner as would be
the case if the Collection Account, the Mayfair Mall Custodial Account and the
respective A/B Mortgage Loan Combination Custodial Accounts were maintained as
multiple separate accounts; (ii) all distributions on the Certificates will be
calculated and made in the same manner as would be the case if the Collection
Account, the Mayfair Mall Custodial Account and the respective A/B Mortgage
Loan Combination Custodial Accounts were maintained as multiple separate
accounts; (iii) the Master Servicer shall make credits and debits to those
multiple sub-accounts in a manner consistent with the provisions of this
Agreement governing deposits and withdrawals of funds to and from the
Collection Account, the Mayfair Mall Custodial Account and the respective A/B
Mortgage Loan Combination Custodial Accounts, respectively; (iv) the Master
Servicer's maintaining the Collection Account, the Mayfair Mall Custodial
Account and the respective A/B Mortgage Loan Combination Custodial Accounts as
multiple separate sub-accounts of a single Eligible Account (as opposed to in
the form of multiple separate Eligible Accounts) shall not materially and
adversely affect any of the Certificateholders, any Mayfair Mall Non-Trust
Companion Loan Holder or any B-Note Non-Trust Companion Loan Holder; and (v)
such single Eligible Account shall be entitled "[name of Master Servicer], as
Master Servicer, in trust for the registered holders of Credit Suisse First
Boston Mortgage Securities Corp., Commercial Mortgage Pass-Through
Certificates, Series 2003-C4, [names of the respective Mayfair Mall Non-Trust
Companion Loan Holders] and [names of respective B-Note Non-Trust Companion
Loan Holders], as their interests may appear, Collection/Custodial Account".

          Also notwithstanding the foregoing or any other provision to the
contrary in this Agreement, the Trustee may maintain the Distribution Account,
the Excess Interest Distribution Account, the Interest Reserve Account and the
Excess Liquidation Proceeds Account as four separate subaccounts of a single
Eligible Account; provided that: (i) all deposits into and withdrawals from
such single Eligible Account shall be made in the same manner as would be the
case if the Distribution Account, the Excess Interest Distribution Account,
the Interest Reserve Account and the Excess Liquidation Proceeds Account were
maintained as four separate accounts; (ii) all distributions on the
Certificates will be calculated and made in the same manner as would be the
case if the Distribution Account, the Excess Interest Distribution Account,
the Interest Reserve Account and the Excess Liquidation Proceeds Account were
maintained as four separate accounts; (iii) the Trustee shall make debits and
credits to those four subaccounts in a manner consistent with the provisions
of this Agreement governing transfers of funds between the Distribution
Account, the Excess Interest Distribution Account, the Interest Reserve
Account and the Excess Liquidation Proceeds Account, as the

                                    -124-
<PAGE>

case may be; (iv) the Trustee's maintaining the Distribution Account,
the Excess Interest Distribution Account, the Interest Reserve
Account and the Excess Liquidation Proceeds Account as four separate
subaccounts of a single Eligible Account (as opposed to in the form of four
separate Eligible Accounts) shall not materially and adversely affect any of
the Certificateholders; and (v) such single Eligible Account shall be entitled
"[name of Trustee], as Trustee, in trust for the registered holders of Credit
Suisse First Boston Mortgage Securities Corp., Commercial Mortgage
Pass-Through Certificates, Series 2003-C4, Distribution Account, Excess
Interest Distribution Account, Interest Reserve Account and Excess Liquidation
Proceeds Account".

          SECTION 3.05. Permitted Withdrawals from the Collection Account and
                        the Distribution Account.

          (a) The Master Servicer may, from time to time, make withdrawals
from the Collection Account maintained by it for any of the following
purposes:

               (i) to remit to the Trustee for deposit in the Distribution
          Account the amount required to be remitted pursuant to the first
          paragraph of Section 3.04(b) and clause (iii) of the second
          paragraph of Section 3.04(b) and the amount to be applied to make
          P&I Advances by the Master Servicer pursuant to Section 4.03(a);

              (ii) to pay Excess Interest on the ARD Trust Mortgage Loans and
          any successor REO Trust Mortgage Loans with respect thereto to the
          Excess Interest Distribution Account pursuant to Section 3.04(c);

             (iii) to pay (x) to itself or the holder of the Excess
          Servicing Strip (subject to Section 3.11(a)), unpaid Master
          Servicing Fees to which it or such holder is entitled pursuant to
          Section 3.11(a) in respect of each Trust Mortgage Loan and REO Trust
          Mortgage Loan, and (y) to the Special Servicer, unpaid Special
          Servicing Fees to which it is entitled in accordance with Section
          3.11(b) in respect of each Specially Serviced Trust Mortgage Loan
          and/or REO Trust Mortgage Loan, as applicable, the Master Servicer's
          rights, the rights of any other holder of the Excess Servicing Strip
          and the Special Servicer's rights to payment pursuant to this clause
          (iii) with respect to any Trust Mortgage Loan or REO Trust Mortgage
          Loan, as applicable, being limited to amounts received on or in
          respect of such Trust Mortgage Loan (whether in the form of
          payments, Liquidation Proceeds or Insurance and Condemnation
          Proceeds) or such REO Trust Mortgage Loan (whether in the form of
          REO Revenues, Liquidation Proceeds or Insurance and Condemnation
          Proceeds) that are allocable as a recovery of interest thereon;

               (iv) to reimburse itself or the Trustee, as applicable, for
          unreimbursed P&I Advances, the Master Servicer's or the Trustee's
          right to receive payment pursuant to this clause (iv) being limited
          to amounts received which represent Late Collections of interest
          (net of the related Master Servicing Fees) on and principal of the
          particular Trust Mortgage Loans and REO Trust Mortgage Loans with
          respect to which such P&I Advances were made;

               (v) to reimburse itself or the Trustee, as applicable, for
          unreimbursed Servicing Advances, the Master Servicer's or the
          Trustee's respective rights to receive payment pursuant to this
          clause (v) with respect to any Trust Mortgage Loan or REO Property
          being limited to, as applicable, related payments, Liquidation
          Proceeds, Insurance and Condemnation Proceeds and REO Revenues;

                                    -125-
<PAGE>

               (vi) to reimburse itself or the Trustee, as applicable, for
          Nonrecoverable Advances out of general collections on the Trust
          Mortgage Loans and REO Properties (which reimbursement may (but is
          not required to) be made, in accordance with Section 3.03(d) and/or
          Section 4.03(d), as applicable, in installments over a period not to
          exceed 12 months);

              (vii) at such time as it reimburses itself or the Trustee, as
          applicable, for (a) any unreimbursed P&I Advance pursuant to clause
          (iv) above, to pay itself or the Trustee, as applicable, any Advance
          Interest accrued and payable thereon in accordance with Section
          4.03(d), (b) any unreimbursed Servicing Advances pursuant to clause
          (v) above or pursuant to Section 3.03(a)(ii), to pay itself or the
          Trustee, as the case may be, any Advance Interest accrued and
          payable thereon in accordance with Section 3.03(d) or (c) any
          Nonrecoverable Advances pursuant to clause (vi) above, to pay itself
          or the Trustee, as the case may be, any Advance Interest accrued and
          payable thereon (all such interest on Advances to be payable first
          out of Penalty Charges on the related Trust Mortgage Loan or REO
          Trust Mortgage Loan and then out of general collections on the Trust
          Mortgage Loans and REO Properties);

            (viii) to pay the Special Servicer (or, if applicable, any
          predecessor thereto) earned and unpaid Workout Fees and Liquidation
          Fees with respect to any Specially Serviced Trust Mortgage Loan or
          REO Trust Mortgage Loan to which it is entitled pursuant to, and
          from the sources contemplated by, Section 3.11(b);

               (ix) to reimburse itself, the Special Servicer, the Depositor
          or the Trustee, as the case may be, for any unreimbursed expenses
          reasonably incurred by such Person in respect of any Breach or
          Defect relating to a Trust Mortgage Loan and giving rise to a
          repurchase obligation of any Mortgage Loan Seller under Section 7 of
          the related Mortgage Loan Purchase Agreement, including, any
          expenses arising out of the enforcement of the repurchase
          obligation, each such Person's right to reimbursement pursuant to
          this clause (ix) with respect to any Trust Mortgage Loan being
          limited to that portion of the Purchase Price paid for such Trust
          Mortgage Loan that represents such expense in accordance with clause
          (v) of the definition of Purchase Price;

               (x) subject to Section 2.03(b), to reimburse itself, the
          Trustee or the Special Servicer, as the case may be, out of general
          collections on the Trust Mortgage Loans and REO Properties for any
          unreimbursed expense reasonably incurred by such Person relating to
          a Trust Mortgage Loan in connection with the enforcement of any
          Mortgage Loan Seller's obligations under Section 7 of the related
          Mortgage Loan Purchase Agreement, but only to the extent that such
          expenses are not reimbursable pursuant to clause (ix) above or
          otherwise;

              (xi) to pay itself, as additional master servicing compensation
          all amounts relating to the Mortgage Pool specified in the fourth
          and fifth paragraphs of Section 3.11(a); and to pay the Special
          Servicer, as additional special servicing compensation all amounts
          relating to the Mortgage Pool specified in the next to last
          paragraph of Section 3.11(b);

              (xii) to recoup any amounts deposited in the Collection Account
          maintained by the Master Servicer in error;

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               (xiii) to pay itself, the Special Servicer, the Depositor or
          any of their respective directors, officers, employees and agents,
          as the case may be, any amounts payable to any such Person out of
          the Collection Account pursuant to Sections 6.03(a) or 6.03(b);

                (xiv) to pay for (A) the cost of any Opinion of Counsel
          contemplated by Sections 11.01(a) or 11.01(c) in connection with an
          amendment to this Agreement requested by the Trustee or the Master
          Servicer, which amendment is in furtherance of the rights and
          interests of Certificateholders, (B) the cost of obtaining the REO
          Extension contemplated by Section 3.16(a) (the amounts contemplated
          by this clause may be paid from the Collection Account), (C) any
          reasonable out-of-pocket cost or expense (including the reasonable
          fees of tax accountants and attorneys) incurred by the Trustee
          pursuant to Section 3.17(a)(iii) in connection with providing advice
          to the Special Servicer with respect to any REO Property (except to
          the extent that the subject expense relates to any Mayfair Mall
          Non-Trust Companion Loan or any successor REO Non-Trust Companion
          Loan with respect thereto), and (D) to the extent not otherwise
          advanced by the Master Servicer, any fees and/or expenses payable or
          reimbursable, as the case may be, in accordance with Section 3.18,
          to the Master Servicer, the Trustee or an Independent third party
          for confirming, in accordance with such Section 3.18(b), a Fair
          Value determination made with respect to any Defaulted Trust
          Mortgage Loan;

               (xv) to pay itself, the Special Servicer, the Trustee or the
          Depositor, as the case may be, any amount related to the Trust
          Mortgage Loans and/or REO Properties that is specifically required
          to be paid to such Person at the expense of the Trust Fund under any
          provision of this Agreement and to which reference is not made in
          any other clause of this Section 3.05(a), it being acknowledged that
          this clause (xv) shall not be construed to modify any limitation
          otherwise set forth in this Agreement on the time at which any
          Person is entitled to payment or reimbursement of any amount or the
          funds from which any such payment or reimbursement is permitted to
          be made;

               (xvi) to pay, in accordance with Section 3.03(c), out of
          general collections on the Trust Mortgage Loans and any REO
          Properties, certain servicing expenses related to the Trust Mortgage
          Loans and REO Properties that would, if advanced, constitute
          Nonrecoverable Servicing Advances; (xvii) to pay itself, the Special
          Servicer, a Mortgage Loan Seller or any other particular Person, as
          the case may be, with respect to each Trust Mortgage Loan, if any,
          previously purchased by such Person pursuant to this Agreement, all
          amounts received thereon subsequent to the date of purchase;

             (xviii) to pay for the cost of any environmental testing
          performed at the Special Servicer's direction pursuant to the last
          sentence of Section 3.09(c) and to pay for the cost of any remedial
          actions taken in accordance with Section 3.09(c) to address actual
          or potential adverse environmental conditions;

               (xix) to pay amounts payable (A) by the holder of the related
          A-Note Trust Mortgage Loan to any B-Note Non-Trust Companion Loan
          Holder under the related A/B Intercreditor Agreement or (B) by the
          holder of the Mayfair Mall Trust Mortgage Loan to any Mayfair Mall
          Non-Trust Companion Loan Holder pursuant to the Mayfair Mall
          Intercreditor Agreement;

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               (xx) to transfer the Excess Liquidation Proceeds to the Excess
          Liquidation Proceeds Account in accordance with Section 3.04(d); and

              (xxi) to clear and terminate the Collection Account at the
          termination of this Agreement pursuant to Section 9.01;

provided that no party hereto shall be entitled to payment or reimbursement
from the Collection Account with respect to any A-Note Trust Mortgage Loan or
related REO Property for which it can be reimbursed out of the related A/B
Mortgage Loan Combination Custodial Account (other than Nonrecoverable
Advances and interest thereon) or with respect to the Mayfair Mall Trust
Mortgage Loan or any successor REO Trust Mortgage Loan with respect thereto
for which it can be reimbursed out of the Mayfair Mall Custodial Account
(other than P&I Advances, Nonrecoverable Servicing Advances and interest
thereon).

          Subject to the provisions of Section 3.03(c), the Master Servicer
shall pay to the Special Servicer from the Master Servicer's Collection
Account on the Master Servicer Remittance Date amounts permitted to be paid to
the Special Servicer therefrom based upon an Officer's Certificate received
from the Special Servicer on the first Business Day following the immediately
preceding Determination Date describing the item and amount to which the
Special Servicer is entitled. The Master Servicer may rely conclusively on any
such certificate and shall have no duty to re-calculate the amounts stated
therein. The Special Servicer shall keep and maintain separate accounting for
each Specially Serviced Mortgage Loan and REO Property, on a loan-by-loan and
property-by-property basis, for the purpose of justifying any request thereby
for withdrawal from a Collection Account.

          The Master Servicer shall keep and maintain separate accounting
records, on a loan-by-loan and property-by-property basis when appropriate,
for the purpose of justifying any withdrawal from the Collection Account.

          (b) The Trustee, may, from time to time, make or be deemed to make
withdrawals from the Distribution Account for any of the following purposes:

               (i) to make distributions of the Available Distribution Amount
          and any Yield Maintenance Charges on the Trust Mortgage Loans and
          REO Trust Mortgage Loans to the Certificateholders pursuant to
          Section 4.01;

              (ii) to pay the Trustee accrued but unpaid Trustee Fees;

             (iii) to pay to the Trustee or any of their Affiliates,
          directors, officers, employees and agents, as the case may be, any
          amounts payable or reimbursable out of the Distribution Account to
          any such Person hereunder, including pursuant to Section 6.03(a),
          6.03(b), 8.05(c) or 8.05(d);

              (iv) to pay for the cost of recording this Agreement;

               (v) to pay for the cost of the Opinion of Counsel contemplated
          by Section 11.01(c) in connection with any amendment to this
          Agreement requested by the Trustee;

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               (vi) to pay any and all federal, state and local taxes imposed
          on any of the REMIC Pools or any of their assets or transactions,
          together with all incidental costs and expenses, to the extent that
          none of the Depositor, the Master Servicer, the Special Servicer or
          the Trustee is liable therefor;

              (vii) to recoup any amounts deposited in the Distribution
          Account in error;

             (viii) to transfer amounts required to be transferred to the
          Interest Reserve Account pursuant to Section 3.28(a);

               (ix) to pay the Trustee any Net Investment Earnings on funds in
          the Distribution Account pursuant to Section 3.06; and

                (x) to clear and terminate the Distribution Account at the
          termination of this Agreement pursuant to Section 9.01.

          (c) Notwithstanding anything herein to the contrary, with respect to
any Trust Mortgage Loan, (i) if amounts on deposit in the Collection Account
and the Distribution Account are not sufficient to pay the full amount of the
Master Servicing Fee listed in Section 3.05(a)(iii) and the Trustee Fee listed
in Section 3.05(b)(ii), then the Trustee Fee shall be paid in full prior to
the payment of any Master Servicing Fees payable under Section 3.05(a)(ii) and
(ii) if amounts on deposit in the Collection Account are not sufficient to
reimburse the full amount of, together with interest on, Advances listed in
Sections 3.05(a)(iv), (v), (vi) and (vii), then reimbursements shall be paid
first to the Trustee and then to the Master Servicer.

          SECTION 3.06. Investment of Funds in the Collection Account,
                        Mortgage Loan Combination Custodial Accounts,
                        Servicing Accounts, Cash Collateral Accounts,
                        Lock-Box Accounts, the Interest Reserve Account,
                        Distribution Account, Excess Liquidation Proceeds
                        Account, Excess Interest Distribution Account and
                        the REO Account.

          (a) (i) The Master Servicer may direct any depository institution
maintaining for the Master Servicer the Collection Account, any Mortgage Loan
Combination Custodial Account, any Servicing Account, any Cash Collateral
Account and any Lock-Box Account (any of the foregoing accounts listed in this
clause (i) for purposes of this Section 3.06, a "Master Servicer Account"),
(ii) the Special Servicer may direct any depository institution maintaining
the REO Account and (iii) the Trustee may direct any depository institution
maintaining the Excess Liquidation Proceeds Account, the Excess Interest
Distribution Account, the Distribution Account and the Interest Reserve
Account (any of the foregoing accounts listed in this clause (iii) for
purposes of this Section 3.06, a "Trustee Account" and any of the Master
Servicer Accounts, the Trustee Accounts and the REO Account, for purposes of
this Section 3.06, an "Investment Account"), to invest (or if such depository
institution is the Master Servicer, Special Servicer or the Trustee, as
applicable, it may itself invest) the funds held therein solely in one or more
Permitted Investments bearing interest or sold at a discount, and maturing,
unless payable on demand, (A) no later than the Business Day immediately
preceding the next succeeding date on which such funds are required to be
withdrawn from such account pursuant to this Agreement, if a Person other than
the depository institution maintaining such account is the obligor thereon and
(B) no later than the date on which such funds are required to be withdrawn
from such account pursuant to this

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Agreement, if the depository institution maintaining such account is
the obligor thereon. All such Permitted Investments shall be held to maturity,
unless payable on demand. Any investment of funds in an Investment Account
shall be made in the name of the Trustee (in its capacity as such).

          The Master Servicer (in the case of any Master Servicer Account) or
the Special Servicer (in the case of the REO Account), on behalf of the
Trustee, or the Trustee (in the case of any Trustee Account) shall be the
"entitlement holder", as such term is defined in the UCC, of any Permitted
Investment that is a "security entitlement", as such term is defined in the
UCC, and maintain continuous possession of any Permitted Investment of amounts
in such accounts that is either (i) a "certificated security", as such term is
defined in the UCC or (ii) other property in which a secured party may perfect
its security interest by possession under the UCC or any other applicable law.
Possession of any such Permitted Investment by the Master Servicer or Special
Servicer shall constitute possession by the Trustee, as secured party, for
purposes of Section 9-313 of the UCC and any other applicable law. In the
event amounts on deposit in an Investment Account are at any time invested in
a Permitted Investment payable on demand, the Master Servicer (in the case of
any Master Servicer Account), the Special Servicer (in the case of the REO
Account) or the Trustee (in the case of any Trustee Account) shall:

               (i) consistent with any notice required to be given thereunder,
          demand that payment thereon be made on the last day such Permitted
          Investment may otherwise mature hereunder in an amount equal to the
          lesser of (A) all amounts then payable thereunder and (B) the amount
          required to be withdrawn on such date; and

              (ii) demand payment of all amounts due thereunder promptly upon
          determination by the Master Servicer, Special Servicer or the
          Trustee, as the case may be, that such Permitted Investment would
          not constitute a Permitted Investment in respect of funds thereafter
          on deposit in the Investment Account.

          (b) Interest and investment income realized on funds and deposited
in each of the Master Servicer Accounts to the extent of the Net Investment
Earnings, if any, with respect to such account for each Collection Period
shall be for the sole and exclusive benefit of the Master Servicer to the
extent not required to be paid to the related Borrower and shall be subject to
its withdrawal, or withdrawal at its direction, in accordance with Section
3.03(a), 3.04(e), 3.04(f), 3.05(a) or 3.27, as the case may be. Interest and
investment income realized on funds deposited in the REO Account, to the
extent of the Net Investment Earnings, if any, with respect to such account
for each Collection Period, shall be for the sole and exclusive benefit of the
Special Servicer and shall be subject to withdrawal, or withdrawal at its
direction, in accordance with Section 3.16(c). Interest and investment income
realized on funds and deposited in each of the Trustee Accounts, to the extent
of the Net Investment Earnings, if any, with respect to such account for each
period from the day succeeding any Distribution Date to the next succeeding
Distribution Date shall be for the sole and exclusive benefit of the Trustee,
but shall be subject to withdrawal in accordance with Section 3.04(c),
3.04(d), 3.05(b) or 3.28. If any loss shall be incurred in respect of any
Permitted Investment directed to be made by the Master Servicer or the Special
Servicer, as applicable, other than any loss on an investment made at the
direction of the Borrower or made as required under the Mortgage Loan
Documents and on deposit in any of the Master Servicer Accounts (in the case
of the Master Servicer), the Master Servicer or the Special Servicer, as
applicable, shall deposit therein, no later than the next Determination Date,
without right of reimbursement, the amount of the Net Investment Loss, if any,
with respect to such account for the most recently ended Collection Period;
provided, however, that such Net Investment Loss shall not include

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any loss incurred as a result of the insolvency of the federal or state
chartered depository institution or trust company that holds such
account. If any loss shall be incurred in respect of any Permitted Investment
directed to be made by the Trustee and on deposit in any of the Trustee
Accounts, the Trustee shall deposit therein, no later than the next
Distribution Date, without right of reimbursement, the amount of the Net
Investment Loss, if any, with respect to such account for the period from and
including the day succeeding the immediately preceding Distribution Date (or,
in the case of the initial Distribution Date, from and including the Closing
Date) to and including such Distribution Date.

          (c) Except as otherwise expressly provided in this Agreement, if any
default occurs in the making of a payment due under any Permitted Investment,
or if a default occurs in any other performance required under any Permitted
Investment, the Trustee may (and, subject to Section 8.02, upon the request of
Holders of Certificates entitled to a majority of the Voting Rights allocated
to any Class shall) take such action as may be appropriate to enforce such
payment or performance, including the institution and prosecution of
appropriate proceedings.

          Notwithstanding the investment of funds held in any Investment
Account pursuant to this Section 3.06, for purposes of calculating the
Available Distribution Amount, the amounts so invested shall be deemed to
remain on deposit in such account.

          SECTION 3.07. Maintenance of Insurance Policies; Errors and
                        Omissions and Fidelity Coverage.

          (a) Subject to the following sentence, the Master Servicer shall use
its reasonable efforts, consistent with the Servicing Standard, to cause the
related Borrower to maintain, for each Mortgage Loan any and all Insurance
Policy coverage as is required under the related Mortgage Loan Documents (and,
if the related Borrower fails to do so, the Master Servicer shall itself
maintain such Insurance Policy coverage to the extent the Trustee as mortgagee
has an insurable interest in the related Mortgaged Property and to the extent
such Insurance Policy coverage is available at commercially reasonable rates,
as determined by the Master Servicer in accordance with the Servicing
Standard); provided that, subject to Section 3.07(f), if any Mortgage permits
the holder thereof to dictate to the Borrower the Insurance Policy coverage to
be maintained on such Mortgaged Property, the Master Servicer or Special
Servicer, as applicable, shall impose such insurance requirements as are
consistent with the Servicing Standard; and provided, further, that the Master
Servicer is not required to make a Nonrecoverable Servicing Advance to
maintain any such Insurance Policy. The Master Servicer shall use its
reasonable efforts to cause the related Borrower to maintain, and if the
related Borrower does not so maintain, the Master Servicer shall maintain,
all-risk casualty insurance which does not contain any carve-out for (or,
alternatively, a separate insurance policy that expressly provides coverage
for) property damage resulting from a terrorist or similar act, to the extent
not prohibited by the terms of the related Mortgage Loan Documents; provided
that the Master Servicer shall not be required to call default under a
Mortgage Loan if the related Borrower fails to maintain such insurance, and
the Master Servicer shall not be required to maintain such insurance, if, in
each case, the Special Servicer has determined in accordance with the
Servicing Standard that either (a) such insurance is not available at
commercially reasonable rates and that such hazards are not at the time
commonly insured against for properties similar to the subject Mortgaged
Property and located in or around the region in which the subject Mortgaged
Property is located or (b) such insurance is not available at any rate; and
provided, further, that the Master Servicer shall use reasonable efforts,
consistent with the Servicing Standard, to enforce any express provisions in
the related Mortgage Loan Documents relating to insurance against

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loss or damage resulting from terrorist or similar acts. Subject to
Section 3.17(a), the Special Servicer shall maintain for each REO Property no
less Insurance Policy coverage than was previously required of the Borrower
under the related Mortgage Loan(s) or, at Special Servicer's election,
coverage satisfying insurance requirements consistent with the Servicing
Standard; provided that such coverage is available at commercially reasonable
rates.

          All such Insurance Policies shall (i) contain a "standard" mortgagee
clause, with loss payable to the Master Servicer on behalf of the Trustee (in
the case of insurance maintained in respect of Mortgage Loans) or the Special
Servicer on behalf of the Trustee (in the case of insurance maintained in
respect of REO Properties), (ii) include coverage in an amount not less than
the lesser of the full replacement cost of the improvements which are a part
of the Mortgaged Property or the outstanding principal balance owing on the
related Mortgage Loan(s), but in any case in such an amount so as to avoid the
application of any co-insurance clause, (iii) include a replacement cost
endorsement providing no deduction for depreciation (unless such endorsement
is not permitted under the related Mortgage Loan Documents) and (iv) be issued
by either (X) a Qualified Insurer or (Y) for any Insurance Policy being
maintained by the related Borrower, an insurance carrier meeting the
requirements of the related Mortgage Loan Documents (provided that such
Qualified Insurer or other insurance carrier is authorized under applicable
law to issue such Insurance Policies). Any amounts collected by the Master
Servicer or Special Servicer under any such Insurance Policies (other than
amounts to be applied to the restoration or repair of the related Mortgaged
Property or REO Property or amounts to be released to the related Borrower, in
each case in accordance with the Servicing Standard and the provisions of the
related Mortgage Loan Documents) shall be deposited: (i) in the case of a
Mortgage Loan, in the Collection Account or any related Mortgage Loan
Combination Custodial Account, as applicable in accordance with Section 3.04,
maintained by the Master Servicer, subject to withdrawal pursuant to Section
3.05(a) or 3.04(e), as applicable; and (ii) in the case of an REO Property, in
the REO Account maintained by the Special Servicer, subject to withdrawal
pursuant to Section 3.16(c).

          Any costs incurred by the Master Servicer in maintaining any such
Insurance Policies in respect of Mortgage Loans if the Borrower defaults on
its obligation to maintain such Insurance Policies shall be advanced by and
reimbursable to the Master Servicer as a Servicing Advance. The amounts so
advanced shall not, for purposes of calculating monthly distributions to
Certificateholders, be added to the unpaid principal balance of the related
Trust Mortgage Loan, notwithstanding that the terms of such Trust Mortgage
Loan so permit. Any cost incurred by the Special Servicer in maintaining any
such Insurance Policies with respect to REO Properties shall be an expense of
the Trust Fund payable out of the related REO Account pursuant to Section
3.16(c) or, if the amount on deposit therein is insufficient therefor,
advanced by and reimbursable to the Master Servicer as a Servicing Advance.

          (b) If the Master Servicer or Special Servicer obtains and maintains
a blanket Insurance Policy with a Qualified Insurer insuring against fire and
hazard losses on all of the Mortgage Loans or REO Properties, as the case may
be, required to be serviced and administered by it hereunder, and such
Insurance Policy provides protection equivalent to the individual policies
otherwise required, then the Master Servicer or Special Servicer, as the case
may be, shall conclusively be deemed to have satisfied its obligation to cause
fire and hazard insurance to be maintained on the related Mortgaged Properties
or REO Properties. Such blanket Insurance Policy may contain a deductible
clause, in which case if there shall not have been maintained on the related
Mortgaged Property or REO Property a fire and hazard Insurance Policy
complying with the requirements of Section 3.07(a), and there shall have been
one or more losses which would have been covered by such individual Insurance
Policy, the

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Master Servicer or the Special Servicer shall promptly deposit into
the Collection Account or any related Mortgage Loan Combination Custodial
Account, as applicable in accordance with Section 3.04, from its own funds the
portion of such loss or losses that would have been covered under the
individual policy (giving effect to any deductible limitation or, in the
absence of such deductible limitation, the deductible limitation that is
consistent with the Servicing Standard) but is not covered under the blanket
Insurance Policy because of such deductible clause. The Master Servicer or
Special Servicer, as applicable, shall prepare and present, on behalf of
itself, the Trustee, the Certificateholders and any affected Non-Trust
Companion Loan Holders, claims under any such blanket Insurance Policy in a
timely fashion in accordance with the terms of such policy. The Special
Servicer, to the extent consistent with the Servicing Standard, may maintain
earthquake insurance on REO Properties; provided that such coverage is
available at commercially reasonable rates.

          If the Master Servicer or Special Servicer causes any Mortgaged
Property to be covered by a master single interest Insurance Policy with a
Qualified Insurer naming the Master Servicer or Special Servicer as the loss
payee, then to the extent such Insurance Policy provides protection equivalent
to the individual policies otherwise required, the Master Servicer or Special
Servicer shall conclusively be deemed to have satisfied its obligation to
cause such insurance to be maintained on the related Mortgage Properties. If
the Master Servicer or Special Servicer, as applicable, causes any Mortgaged
Property or REO Property to be covered by such master single interest
Insurance Policy, the incremental costs of such insurance applicable to such
Mortgaged Property (i.e., other than any minimum or standby premium payable
for such policy whether or not any Mortgaged Property is covered thereby)
shall be paid by and reimbursable to the Master Servicer as a Servicing
Advance. Such master single interest Insurance Policy may contain a deductible
clause, in which case the Master Servicer or the Special Servicer, as
applicable, shall, if (A) there shall not have been maintained on the related
Mortgaged Property or REO Property a policy otherwise complying with the
provisions of Section 3.07(a) and (B) there shall have been one or more losses
which would have been covered by such policy had it been maintained, deposit
into the Collection Account or any related Mortgage Loan Combination Custodial
Account, as applicable in accordance with Section 3.04, from its own funds the
amount not otherwise payable under the master single interest Insurance Policy
because of such deductible clause, to the extent that any such deductible
exceeds the deductible limitation that pertained to the related Trust Mortgage
Loan, or, in the absence of any such deductible limitation, the deductible
limitation which is consistent with the Servicing Standard.

          (c) The Master Servicer and Special Servicer, respectively, shall
maintain, at their own expense, a blanket fidelity bond (a "Fidelity Bond")
and an errors and omissions insurance policy with a Qualified Insurer, with
coverage on all of its officers or employees acting in any capacity requiring
such persons to handle funds, money, documents or paper relating to the
Mortgage Loans ("Master Servicer Employees", in the case of the Master
Servicer, and "Special Servicer Employees", in the case of the Special
Servicer). Any such Fidelity Bond and errors and omissions insurance shall
protect and insure the Master Servicer against losses, including forgery,
theft, embezzlement, fraud, errors and omissions, failure to maintain any
insurance policies required pursuant to the Agreement and negligent acts of
the Master Servicer Employees or Special Servicer Employees. Such errors and
omissions policy shall also protect and insure the Master Servicer against
losses in connection with the release or satisfaction of a Mortgage Loan
without having obtained payment in full of the indebtedness secured thereby.
No provision of this Section requiring such Fidelity Bond and errors and
omissions insurance shall diminish or relieve the Master Servicer or Special
Servicer from its duties and obligations as set forth in this Agreement.

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<PAGE>

          The minimum coverage under any such Fidelity Bond and errors and
omissions insurance policy shall be at least equal to the greater of (i) the
amount necessary for the Master Servicer or Special Servicer, as applicable,
to qualify as a FNMA or FHLMC servicer or in an amount that would meet the
requirements of prudent institutional commercial mortgage loan servicers for
similar transactions, and (ii) $1,000,000. Notwithstanding the foregoing, so
long as the long-term debt or the deposit obligations or claims-paying ability
of the Master Servicer or Special Servicer (or its immediate or remote parent)
is rated at least "A" by S&P and "A2" by Moody's, the Master Servicer or
Special Servicer, respectively, shall be allowed to provide self-insurance
with respect to a Fidelity Bond and such errors and omissions policy; provided
that if such ratings requirement is satisfied by the ratings of the immediate
or remote parent of the Master Servicer or Special Servicer, as applicable,
such parent entity shall provide the Trustee with a written guarantee of the
obligations of the Master Servicer or the Special Servicer, as applicable, in
connection with such self-insurance. Coverage of the Master Servicer or the
Special Servicer under a policy or bond obtained by an Affiliate of the Master
Servicer or the Special Servicer and providing the coverage required by this
Section 3.07(c) shall satisfy the requirements of this Section 3.07(c).

          The Special Servicer and the Master Servicer will promptly report in
writing to the Trustee any material changes that may occur in their respective
Fidelity Bonds, if any, and/or their respective errors and omissions Insurance
Policies, as the case may be, and will furnish to the Trustee copies of all
binders and policies or certificates evidencing that such bonds, if any, and
insurance policies are in full force and effect.

          (d) With respect to the Mortgage Loans that (i) require earthquake
insurance, or (ii) (A) at the date of origination were secured by Mortgaged
Properties on which the related Borrower maintained earthquake insurance and
(B) have provisions which enable the Master Servicer to continue to require
the related Borrower to maintain earthquake insurance, the Master Servicer
shall require the related Borrower to maintain such insurance in the amount,
in the case of clause (i), required by the related Mortgage Loan Documents and
in the amount, in the case of clause (ii), maintained at origination, in each
case, to the extent such amounts are available at commercially reasonable
rates. Any determination by the Master Servicer that such insurance is not
available at commercially reasonable rates with respect to a Mortgage Loan for
which any related Mortgaged Property has a "Probable Maximum Loss", bounded on
the basis of 50 years, in excess of 20% shall be subject to confirmation by
each Rating Agency that such determination not to purchase such insurance
will, in and of itself, not result in a downgrade, qualification or withdrawal
of any of the then-current ratings assigned to the Certificates rated by such
Rating Agency. The Master Servicer shall use reasonable efforts to cause the
related Borrower to pay the costs of such confirmation, otherwise, such costs
shall be a Trust Fund expense.

          (e) The Master Servicer and Special Servicer shall review and be
familiar with the terms and conditions relating to enforcing claims and shall
monitor the dates by which any claim or action is required to be taken under
each insurance policy to realize the full value of such policy for the benefit
of Certificateholders.

          (f) If, as of the Closing Date, a Mortgaged Property (other than an
REO Property) shall be in a federally designated special flood hazard area (if
flood insurance has been made available), or if the Master Servicer becomes
aware, in performing its duties under this Agreement, that a Mortgaged
Property becomes located in such area by virtue of remapping conducted by the
Federal

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Emergency Management Agency, the Master Servicer will use its
reasonable efforts to cause the related Borrower (in accordance with
applicable law and the terms of the related Mortgage Loan Documents) to
maintain, and, if the related Borrower shall default in any such obligation to
so maintain, the Master Servicer shall itself maintain (to the extent
available at commercially reasonable rates (as determined by the Master
Servicer in accordance with the Servicing Standard) and the Trustee as
Mortgagee has an insurable interest in the related Mortgaged Property), flood
insurance in respect thereof, but only to the extent the related Mortgage Loan
Documents permit the mortgagee to require such coverage and the maintenance of
such coverage is consistent with the Servicing Standard. Such flood insurance
shall be in an amount equal to the least of (i) the unpaid principal balance
of the related Mortgage Loan(s), (ii) the maximum amount of insurance which is
available under the National Flood Insurance Act of 1968 and the Flood
Disaster Protection Act of 1973, as amended, and (iii) the amount required by
the related Mortgage Loan Documents. If the cost of any insurance described
above is not borne by the Borrower, the Master Servicer shall promptly make a
Servicing Advance for such costs, subject to Section 3.03(c).

          (g) During all such times as any REO Property shall be located in a
federally designated special flood hazard area, the Special Servicer will
cause to be maintained, to the extent available at commercially reasonable
rates (as determined by the Special Servicer in accordance with the Servicing
Standard), a flood insurance policy meeting the requirements of the current
guidelines of the Federal Insurance Administration in an amount equal to the
least of (i) the unpaid principal balance of the related REO Mortgage Loan(s),
(ii) the maximum amount of insurance which is available under the National
Flood Insurance Act of 1968 and the Flood Disaster Protection Act of 1973, as
amended, and (iii) the amount required by the related Mortgage Loan Documents.
The cost of any such flood insurance with respect to an REO Property shall be
an expense of the Trust Fund payable out of the related REO Account pursuant
to Section 3.16(c) or, if the amount on deposit therein is insufficient
therefor, paid by the Master Servicer as a Servicing Advance.

          (h) Subject to the related Mortgage Loan Documents, the Master
Servicer shall require that each policy of business income insurance
maintained by a Borrower have a minimum term of at least twelve months.

          (i) Within 45 days after the Closing Date, with respect to each
Trust Mortgage Loan covered by an Environmental Insurance Policy as identified
on Exhibit P, the Master Servicer shall notify each Environmental Insurer that
(A) both the Master Servicer and the Special Servicer shall be sent notices
under the related Environmental Insurance Policy and (B) the Trustee, on
behalf of the Trust and any affected Non-Trust Companion Loan Holder(s), shall
be the loss payee under the related Environmental Insurance Policy. The Master
Servicer and the Special Servicer shall abide by the terms and conditions
precedent to payment of claims under any Environmental Insurance Policy and
shall take all such action as may be required to comply with the terms and
provisions of such policy in order to maintain, in full force and effect, such
policy.

          (j) In the event the Master Servicer has actual knowledge of any
event (an "Insured Environmental Event") giving rise to a claim under any
Environmental Insurance Policy in respect of any Mortgage Loan covered
thereby, the Master Servicer shall, in accordance with the terms of such
Environmental Insurance Policy and the Servicing Standards, timely make a
claim thereunder with the appropriate insurer and shall take such other
actions in accordance with the Servicing Standard which are necessary under
such Environmental Insurance Policy in order to realize the full value thereof
for the

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benefit of the Certificateholders. Any legal fees, premiums or other
out-of-pocket costs incurred in accordance with the Servicing Standards under
an Environmental Insurance Policy shall be paid by the Master Servicer and
shall be reimbursable to it as a Servicing Advance.

          In the event that the Master Servicer receives notice of any
termination of any Environmental Insurance Policy that relates to one or more
of the Mortgage Loans, the Master Servicer shall, within three Business Days
after receipt of such notice, notify the Special Servicer, the Series 2003-C4
Directing Certificateholder, any affected Non-Trust Companion Loan Holder(s),
the Rating Agencies and the Trustee of such termination in writing. Upon
receipt of such notice, the Master Servicer or Special Servicer shall address
such termination in accordance with Section 3.07(a) in the same manner as it
would the termination of any other Insurance Policy required under the related
Mortgage Loan Documents.

          SECTION 3.08. Enforcement of Due-on-Sale and Due-on-Encumbrance
                        Clauses; Assumption Agreements; Defeasance Provisions;
                        Other Provisions.

               (a) (i) As to each Mortgage Loan which contains a provision in
          the nature of a "due-on-sale" clause, which by its terms:

                    (A)  provides that such 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 the related Borrower or

                    (B)  provides that such Mortgage Loan may not be assumed
                         without the consent of the mortgagee in connection
                         with any such sale or other transfer,

        the Master Servicer shall provide notice to the Special Servicer of
        any request for a waiver thereof, and the Master Servicer (with
        respect to any KeyBank Trust Mortgage Loans that are Performing Trust
        Mortgage Loans) and the Special Servicer (with respect to all other
        Mortgage Loans) shall, if and to the extent necessary, enforce such
        due-on-sale clause, unless the Special Servicer (in all cases,
        including KeyBank Trust Mortgage Loans that are Performing Trust
        Mortgage Loans) determines, in accordance with the Servicing Standard,
        that (1) not declaring an Event of Default (as defined in the related
        Mortgage Loan Documents) or (2) granting such consent, as applicable,
        would be likely to result in a greater recovery (or an equal recovery,
        provided the other conditions for an assumption or waiver of a
        due-on-sale clause are met), on a present value basis (discounting at
        the related Mortgage Rate), than would enforcement of such clause or
        the failure to grant such consent. If the Special Servicer determines
        that (1) not declaring an Event of Default (as defined in the related
        Mortgage) or (2) granting such consent, as applicable, would be likely
        to result in a greater recovery (or an equal recovery, provided that
        the other conditions for an assumption or waiver of a due-on-sale
        clause are met), the Master Servicer (in the case of a KeyBank Trust
        Mortgage Loan that is a Performing Trust Mortgage Loan) and the
        Special Servicer (in the case of any other Mortgage Loan) shall take
        or enter into an assumption agreement from or with the proposed
        transferee as obligor thereon, provided that (x) the credit status of
        the prospective transferee is in compliance with the Servicing
        Standard and the terms of the related Mortgage Loan Documents and (y)
        with respect to any Trust Mortgage Loan which is a Significant Trust
        Mortgage Loan, the Master Servicer or the Special

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<PAGE>

        Servicer, as applicable, shall have received written confirmation from
        each of the Rating Agencies that such assumption would not, in and of
        itself, cause a downgrade, qualification or withdrawal of any of the
        then-current ratings assigned to the Certificates. The Master Servicer
        (in the case of a KeyBank Trust Mortgage Loan that is a Performing
        Trust Mortgage Loan) and the Special Servicer (in the case of any
        other Mortgage Loan) shall use reasonable efforts to cause the related
        Borrower to pay the costs of such confirmation, otherwise, such costs
        shall be a Trust Fund expense.

               (ii) Notwithstanding the provisions of any Mortgage Loan,
        foreclosure by a Mezzanine Loan Holder on any Mezzanine Loan
        Collateral securing a Mezzanine Loan to an affiliate of the related
        Borrower shall not, for purposes of this Agreement, be deemed to be
        a violation of the due-on-sale clause of the related Mortgage Loan
        Documents or of clause (i) of this Section 3.08(a) so long as the
        foreclosing party is a Permitted Mezzanine Loan Holder, and other
        material requirements of the related intercreditor agreement are
        satisfied.

               (iii) Neither the Master Servicer nor the Special Servicer
        shall (x) consent to the foreclosure of any Mezzanine Loan other
        than by a Permitted Mezzanine Loan Holder or (y) consent to the
        transfer of any Mezzanine Loan except to a Permitted Mezzanine Loan
        Holder, except, in each case, as otherwise provided in Section
        3.08(a)(i). Neither the consent of the Master Servicer nor the
        consent of the Special Servicer shall be required for the
        foreclosure by a Permitted Mezzanine Loan Holder if an event of
        default has been declared under the related Mortgage Loan(s) (and
        each Rating Agency has been notified of such event of default),
        except as set forth in any related intercreditor agreement. In no
        event shall a Mezzanine Loan Holder be required to pay any
        assumption fee, modification fee or other service charge in
        connection with any foreclosure upon Mezzanine Loan Collateral,
        transfer of ownership of the related Mortgaged Property to such
        Mezzanine Loan Holder and/or assumption of the related Mortgage
        Loan. Nothing herein shall prevent a Mezzanine Loan Holder from
        appointing a receiver or trustee with respect to any Mezzanine Loan
        Collateral, foreclosing upon any reserves, escrow accounts or cash
        collateral accounts pledged under the related Mezzanine Loan
        (provided none of such accounts have been pledged under the related
        Mortgage Loan) or otherwise taking an assignment of any cash flows
        from any Mezzanine Loan Collateral.

          (b) As to each 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, at the
        mortgagee's option, may) 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,

the Master Servicer shall provide notice to the Special Servicer of any
request for a waiver thereof, and the Master Servicer (with respect to any
KeyBank Trust Mortgage Loans that are Performing Trust Mortgage Loans) and
Special Servicer (with respect to any other Mortgage Loans) shall, if and to
the extent necessary, enforce such due-on-encumbrance clause and in connection
therewith shall (i) accelerate payments thereon or (ii) withhold its consent
to such lien or encumbrance, unless the Special Servicer (in all cases,
including KeyBank Trust Mortgage Loans that are Performing Trust

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<PAGE>

Mortgage Loans): (x) determines, in accordance with the Servicing Standard,
that (1) not accelerating payments on such Mortgage Loan or (2) granting such
consent, as applicable, would result in a greater recovery on a present value
basis (discounting at the related Mortgage Rate) than would enforcement of
such clause or the failure to grant such consent; and (y) with respect to any
Trust Mortgage Loan which (i) is a Significant Trust Mortgage Loan, or (ii)
has a Loan-to-Value Ratio equal to or greater than 85% or a Debt Service
Coverage Ratio equal to or less than 1.2x (in each case, treating the existing
debt on the subject Mortgaged Property and the proposed additional debt as if
such total debt were a single Trust Mortgage Loan receives (including, in the
case of a KeyBank Trust Mortgage Loan that is a Performing Trust Mortgage
Loan, through the Master Servicer) prior written confirmation from each of the
Rating Agencies that (1) not accelerating such payments or (2) granting such
consent, as applicable, would not, in and of itself, cause a downgrade,
qualification or withdrawal of any of the then-current ratings assigned to the
Certificates. To the extent permitted by the related Mortgage Loan Documents,
the Master Servicer (with respect to any KeyBank Trust Mortgage Loans that are
Performing Trust Mortgage Loans) or the Special Servicer (with respect to all
other Mortgage Loans) will require the Borrower to pay the costs associated
with such Rating Agency confirmation, otherwise it is considered a Trust Fund
expense.

          (c) Any approval required to be obtained by the Master Servicer from
the Special Servicer for any action taken by the Master Servicer pursuant to
this Section 3.08 with respect to a KeyBank Trust Mortgage Loan that is a
Performing Trust Mortgage Loan (the giving of which approval shall be subject
to the Servicing Standard and Section 3.21) shall be deemed given if not
denied in writing within ten (10) Business Days (or, in the case of an
assumption transaction, 10 days) after receipt by the Special Servicer of the
Master Servicer's written recommendation and analysis and any additional
information requested by the Special Servicer or the Series 2003-C4 Directing
Certificateholder, as applicable. If any such action taken by the Master
Servicer pursuant to this Section 3.08 requires the approval of the Series
2003-C4 Directing Certificateholder, then such approval shall be deemed given
if not denied in writing within ten (10) Business Days (or, in the case of an
assumption transaction, 10 days), which 10-Business Day (or 10-day, as
applicable) period shall coincide with the Special Servicer's 10-Business Day
(or 10-day, as applicable) period to object set forth in the preceding
sentence. Nothing in this Section 3.08 shall constitute a waiver of the
Trustee's right, as the mortgagee of record, to receive notice of any
assumption of a Mortgage Loan, any sale or other transfer of the related
Mortgaged Property or the creation of any additional lien or other encumbrance
with respect to such Mortgaged Property.

          (d) Except as otherwise permitted by Section 3.20, the Master
Servicer or the Special Servicer, as applicable, shall not agree to modify,
waive or amend any payment term of any Mortgage Loan in connection with the
taking of, or the failure to take, any action pursuant to this Section 3.08.

          (e) Notwithstanding any other provisions of this Section 3.08, the
Master Servicer may (without the consent of the Special Servicer) grant a
Borrower's request for consent to subject the related Mortgaged Property to an
easement or right-of-way for utilities, access, parking, public improvements
or another purpose and may consent to subordination of the related Mortgage
Loan(s) to

                                    -138-
<PAGE>

such easement or right-of-way; provided that the Master Servicer shall have
determined (i) in accordance with the Servicing Standard that such easement or
right-of-way will not materially interfere with the then-current use of the
related Mortgaged Property or the security intended to be provided by such
Mortgage and will not materially or adversely affect the value of such
Mortgaged Property and (ii) that no REMIC Pool will fail to qualify as a REMIC
as a result thereof and that no tax on "prohibited transactions" or
"contributions" after the Closing Date would be imposed on any REMIC Pool as a
result thereof; and provided, further that the Master Servicer shall cause the
Borrower to pay the costs (including attorneys' fees and expenses) associated
with the determination described in clause (ii).

          (f)  With respect to any Mortgage Loan which permits release of
Mortgaged Properties through defeasance (each, a "Defeasance Mortgage Loan"),
to the extent permitted under the related Mortgage Loan Documents:

               (i) The Master Servicer shall effect such defeasance only
          through the purchase of direct, non-callable U.S. government
          obligations satisfying the REMIC Provisions ("Defeasance
          Collateral") which purchase shall be made in accordance with the
          terms of the related Mortgage Loan Documents (except that the Master
          Servicer is authorized to accept Defeasance Collateral meeting the
          foregoing requirements in spite of more restrictive requirements of
          the related Mortgage Loan Documents); provided, however, that the
          Master Servicer shall not accept the amounts paid by the related
          Borrower to effect defeasance until such Defeasance Collateral has
          been identified; and provided, further, that no defeasance shall be
          accepted within two years after the Closing Date.

               (ii) If such Mortgage Loan permits the assumption of the
          obligations of the related Borrower by a successor Borrower, the
          Master Servicer shall cause the Borrower or such successor Borrower
          to pay all expenses incurred in connection with the establishment of
          a successor Borrower (which shall be a Single-Purpose Entity) and to
          cause an assumption by such successor Borrower of the defeased
          obligations under the related Note. The Master Servicer shall be
          permitted to establish a single Single-Purpose Entity to assume the
          defeased obligations under all of the Mortgage Loans that have been
          defeased.

               (iii) The Master Servicer shall cause to be delivered an
          Opinion of Counsel, at such Borrower's expense, to the effect that
          the assignment of the Defeasance Collateral to the Trustee is valid
          and enforceable (subject to certain customary qualifications and
          exceptions).

               (iv) The Master Servicer shall obtain, at the related
          Borrower's expense, a certificate from an Independent certified
          public accountant certifying that the Defeasance Collateral is
          sufficient to make all scheduled payments under the related Note.

               (v) Prior to permitting release of any Mortgaged Property
          through defeasance, (A) if such defeasance is a partial defeasance
          or such Mortgaged Property relates to a Trust Mortgage Loan that is
          (x) a Trust Mortgage Loan, (y) part of a group of Crossed Trust
          Mortgage Loans or (z) part of a group of Trust Mortgage Loans made
          to affiliated Borrowers that, in each case, in the aggregate,
          represents one of the ten largest loans (which for the purposes of
          this definition shall include groups of Crossed Trust Mortgage Loans
          and groups of Trust Mortgage Loans made to affiliated Borrowers) in
          the Mortgage Pool, the Master Servicer shall obtain, at the expense
          of the related Borrower, written confirmation from Moody's that such
          defeasance would not, in and of itself, result in a downgrade,
          qualification or withdrawal of any of the then-

                                    -139-
<PAGE>

          current ratings assigned to the Certificates, and (B) the
          Master Servicer shall obtain, at the expense of the related
          Borrower, written confirmation from S&P that such defeasance would
          not, in and of itself, result in a downgrade, qualification or
          withdrawal of any of the then-current ratings assigned to the
          Certificates; provided that, in the case of clause (B), so long as
          such Trust Mortgage Loan is not a Significant Trust Mortgage Loan,
          the Master Servicer shall not be required to obtain such
          confirmation from S&P if the Master Servicer delivers to S&P a
          notice in the form attached hereto as Exhibit K.

               (vi) Neither the Master Servicer nor the Special Servicer shall
          permit the release of any Mortgaged Property through defeasance
          unless the related Borrower establishes to the satisfaction of the
          Master Servicer or the Special Servicer that the lien on such
          Mortgaged Property will be released to facilitate the disposition
          thereof or to facilitate any other customary commercial transaction.

               (vii) Prior to permitting release of any Mortgaged Property
          through defeasance, if the related Trust Mortgage Loan so requires
          and provides for the related Borrower to pay the cost thereof, the
          Master Servicer shall require such Borrower to deliver or cause to
          be delivered an Opinion of Counsel to the effect that such release
          will not cause any REMIC Pool to fail to qualify as a REMIC at any
          time that any Certificates are outstanding or cause a tax to be
          imposed on the Trust Fund under the REMIC Provisions.

               (viii) Neither the Master Servicer nor the Special Servicer
          shall permit a partial defeasance with respect to any Mortgage Loan
          unless the Defeasance Collateral is sufficient to satisfy the
          payments and amount required pursuant to the related Mortgage Loan
          Documents with respect to such partial defeasance.

To the extent permitted under the related Mortgage Loan Documents, any costs
to the Master Servicer of obtaining legal advice to make the determinations
required to be made by it pursuant to this Section 3.08(f), or obtaining the
Rating Agency confirmations required by this Section 3.08(f), shall be borne
by the related Borrower as a condition to the Master Servicer's obligation to
effect the defeasance of the related Trust Mortgage Loan, or borne by the
related Mortgage Loan Seller (to the extent it is required to make such
payment under the related Mortgage Loan Purchase Agreement) or advanced as a
Servicing Advance by the Master Servicer, and otherwise shall be a Trust Fund
expense. The Master Servicer shall deliver all documents relating to the
defeasance of any Trust Mortgage Loan to the Trustee for inclusion in the
related Mortgage File.

          (g) With respect to any Mortgage Loan that permits the related
Borrower to incur subordinate indebtedness secured by the related Mortgaged
Property, the Master Servicer or the Special Servicer, as applicable, shall
enforce the rights of the lender, if any, under the related Mortgage Loan
Documents to require such Borrower to require the lender of such subordinate
indebtedness to enter into a subordination and standstill agreement with the
Trust.

          (h) With respect to any Trust Mortgage Loan, subject to the related
Mortgage Loan Documents, neither the Master Servicer nor the Special Servicer
shall permit the related Borrower to substitute any real property, any rights
with respect to real property, or any other property interest whatsoever for
the Mortgaged Property securing such Trust Mortgage Loan as of the Closing
Date without receipt of an Opinion of Counsel, at the expense of the Borrower,
to the effect that the substitution will not cause the related Trust Mortgage
Loan to fail to qualify as a "qualified mortgage"

                                    -140-
<PAGE>

as defined under Section 860G(a)(3) of the Code while such Trust Mortgage Loan
is owned by REMIC I.

          SECTION 3.09. Realization Upon Defaulted Mortgage Loans.

          (a) The Special Servicer shall, subject to subsections (b) through
(d) of this Section 3.09, exercise reasonable efforts, consistent with the
Servicing Standard, to foreclose upon or otherwise comparably convert (which
may include an REO Acquisition) the ownership of any property securing such
Mortgage Loans as come into and continue in default, as to which no
satisfactory arrangements can be made for collection of delinquent payments,
and which are not released from the Trust Fund pursuant to any other provision
hereof. In any case in which a Mortgaged Property shall have suffered damage
such that the complete restoration of such property is not fully reimbursable
by the hazard insurance policies or flood insurance policies required to be
maintained pursuant to Section 3.07, the Master Servicer shall not be required
to make a Servicing Advance and expend funds toward the restoration of such
property unless (i) the Special Servicer has determined in its reasonable
judgment in accordance with the Servicing Standard that such restoration will
increase the net proceeds of liquidation of such Mortgaged Property to
Certificateholders and any affected Non-Trust Companion Loan Holder(s), as a
collective whole, after reimbursement to the Master Servicer for such
Servicing Advance and interest thereon and (ii) the Master Servicer has
determined that such Servicing Advance together with accrued and unpaid
interest thereon, will be recoverable by the Master Servicer out of the
proceeds of liquidation of such Mortgaged Property, as contemplated in
Sections 3.05(a)(v) and 3.05(a)(vii) (or, if applicable, Section 3.04(e) or
Section 3.04(f)). The Master Servicer shall be responsible for all costs and
expenses incurred by the Special Servicer in any such proceedings (such costs
and expenses to be advanced by the Master Servicer to the Special Servicer and
recoverable by the Master Servicer as a Servicing Advance); provided that, in
each case, such cost or expense would not, if incurred, constitute a
Nonrecoverable Servicing Advance.

          Nothing contained in this Section 3.09 shall be construed to require
the Special Servicer, on behalf of the Trust Fund and any affected Non-Trust
Companion Loan Holder(s), to make a bid on any Mortgaged Property at a
foreclosure sale or similar proceeding that is in excess of the fair market
value of such property, as determined by the Special Servicer in its
reasonable judgment taking into account, as applicable, among other factors,
the period and amount of any delinquency on the affected Mortgage Loan(s), the
occupancy level and physical condition of the Mortgaged Property or REO
Property, the state of the local economy, the obligation to dispose of any REO
Property within the time period specified in Section 3.16(a) and the results
of any Appraisal obtained pursuant to the following sentence, all such bids to
be made in a manner consistent with the Servicing Standard. If and when the
Special Servicer deems it necessary and prudent for purposes of establishing
the fair market value of any Mortgaged Property securing a defaulted Mortgage
Loan, whether for purposes of bidding at foreclosure or otherwise, the Special
Servicer is authorized to have an Appraisal performed with respect to such
property, the cost of which Appraisal shall be paid by the Master Servicer as
a Servicing Advance.

          (b) The Special Servicer shall not acquire any personal property
pursuant to this Section 3.09 unless either:

               (i) such personal property is incident to real property (within
          the meaning of Section 856(e)(1) of the Code) so acquired by the
          Special Servicer; or

                                    -141-
<PAGE>

               (ii) the Special Servicer shall have obtained an Opinion of
          Counsel (the cost of which shall be a Servicing Advance) to the
          effect that the holding of such personal property by the Trust Fund
          will not cause the imposition of a tax on any REMIC Pool under the
          REMIC Provisions or cause any REMIC Pool to fail to qualify as a
          REMIC.

          (c) Notwithstanding the foregoing provisions of this Section 3.09,
the Special Servicer shall not, on behalf of the Trustee, obtain title to a
Mortgaged Property in lieu of foreclosure or otherwise, or take any other
action with respect to any Mortgaged Property, if, as a result of any such
action, the Trustee, on behalf of the Certificateholders (and, in the case of
a Mortgage Loan Combination, the related Non-Trust Companion Loan Holder(s)),
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 comparable law, unless (as evidenced by an Officer's
Certificate to such effect delivered to the Trustee) the Special Servicer has
previously determined in accordance with the Servicing Standard, based on an
Environmental Assessment of such Mortgaged Property performed within the
preceding 12 months by an Independent Person who regularly conducts
Environmental Assessments, and taking into account the existence of any
Environmental Insurance Policy covering such Mortgaged Property, that:

               (i) the Mortgaged Property is in compliance with applicable
          environmental laws and regulations or, if not, that taking such
          actions as are necessary to bring the Mortgaged Property into
          compliance therewith is reasonably likely to produce a greater
          recovery on a present value basis than not taking such actions; and

               (ii) there are no circumstances or conditions present at the
          Mortgaged Property relating to the use, management or disposal of
          Hazardous Materials for which investigation, testing, monitoring,
          containment, clean-up or remediation could be required under any
          applicable environmental laws and regulations or, if such
          circumstances or conditions are present for which any such action
          could be required, that taking such actions with respect to such
          Mortgaged Property is reasonably likely to produce a greater
          recovery on a present value basis than not taking such actions.

          The cost of any such Environmental Assessment and the cost of any
remedial, corrective or other further action contemplated by clause (i) and/or
clause (ii) of the preceding sentence shall be paid by the Master Servicer as
a Servicing Advance. If any such Environmental Assessment so warrants, the
Special Servicer shall, at the expense of the Trust Fund and/or, subject to
the applicable intercreditor, co-lender or similar agreement, any related
Non-Trust Companion Loan Holder(s), as a collective whole, perform such
additional environmental testing as it deems necessary and prudent to
determine whether the conditions described in clauses (i) and (ii) of the
second preceding sentence have been satisfied.

          (d) If (i) the environmental testing contemplated by subsection (c)
above establishes that either of the conditions set forth in clauses (i) and
(ii) of the first sentence thereof has not been satisfied with respect to any
Mortgaged Property securing a defaulted Mortgage Loan and (ii) there has been
no breach of any of the representations and warranties set forth in or
required to be made pursuant to the related Mortgage Loan Purchase Agreement
for which the related Mortgage Loan Seller could be required to repurchase the
related Trust Mortgage Loan pursuant to Section 7 of the related Mortgage Loan
Purchase Agreement, then the Special Servicer shall take such action as it
deems to be in the best

                                    -142-
<PAGE>

economic interest of the Trust Fund and any affected Non-Trust Companion
Loan Holder(s), as a collective whole, and consistent with the Servicing
Standard (other than proceeding to acquire title to the Mortgaged
Property) and is hereby authorized at such time as it deems appropriate to
release such Mortgaged Property from the lien of the related Mortgage.

          (e) The Special Servicer shall provide written reports and a copy of
any Environmental Assessments to the Trustee, the Master Servicer and the
Certificateholders (or, if the Controlling Class of Certificates are held in
book-entry form, the Certificate Owners) of the Controlling Class, any
affected Non-Trust Companion Loan Holder and any Requesting Subordinate
Certificateholder (at the expense of such Requesting ____ Subordinate
Certificateholder) monthly regarding any actions taken by the Special Servicer
with respect to any Mortgaged Property securing a defaulted Mortgage Loan as
to which the environmental testing contemplated in subsection (c) above has
revealed that either of the conditions set forth in clauses (i) and (ii) of
the first sentence thereof has not been satisfied, in each case until the
earlier to occur of satisfaction of both such conditions, repurchase of the
related Trust Mortgage Loan by the related Mortgage Loan Seller or release of
the lien of the related Mortgage on such Mortgaged Property; provided,
however, that with respect to each such report or Environmental Assessment, if
beneficial ownership of the Controlling Class resides in more than one
Certificateholder (or, if the Controlling Class of Certificates are held in
book-entry form, more than one Certificate Owner), the Special Servicer shall
be responsible only for the expense of providing the first such copy thereof
and shall be entitled to reimbursement from the Trust Fund for the expense of
any additional copies so provided. The Trustee shall, upon request, forward
all such reports to the Certificateholders (at the expense of the requesting
party) and each Rating Agency.

          (f) The Master Servicer shall report to the Internal Revenue Service
and the related Borrower, in the manner required by applicable law, the
information required to be reported regarding any Mortgaged Property that is
abandoned or foreclosed, the receipt of mortgage interests received in a trade
or business and the forgiveness of indebtedness with respect to any mortgaged
property required by Sections 6050J, 6050H and 6050P, respectively, of the
Code. The Special Servicer shall provide the Master Servicer with such
information or reports as the Master Servicer deems necessary to fulfill its
obligations under this Section 3.09(f) promptly upon the Master Servicer's
request therefor. The Master Servicer shall deliver a copy of any such report
to the Trustee.

          (g) The Special Servicer shall have the right to determine, in
accordance with the Servicing Standard, the advisability of the maintenance of
an action to obtain a deficiency judgment if the state in which the Mortgaged
Property securing any defaulted Mortgage Loan is located and the terms of that
Mortgage Loan permit such an action.

          (h) The Special Servicer shall maintain accurate records, prepared
by one of its Servicing Officers, of each Final Recovery Determination in
respect of a defaulted 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 Master Servicer and any affected
Non-Trust Companion Loan Holder no later than the first Business Day following
the end of the Collection Period in which such Final Recovery Determination
was made.

          SECTION 3.10. Trustee to Cooperate; Release of Mortgage Files.

          (a) Upon the payment in full of any Mortgage Loan, or the receipt by
the Master Servicer or the Special Servicer, as the case may be, of a
notification that payment in full shall be

                                    -143-
<PAGE>

escrowed in a manner customary for such purposes, the Master Servicer
or Special Servicer, as the case may be, will immediately notify the
Trustee and request delivery of the related Mortgage File. Any such notice and
request shall be in the form of a Request for Release (and shall include two
copies) signed by a Servicing Officer (or in a mutually agreeable electronic
format that will, in lieu of a signature on its face, originate from a
Servicing Officer) and 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 Collection Account or a Mortgage Loan
Combination Custodial Account, as applicable pursuant to Section 3.04, or
remitted to the Master Servicer to enable such deposit, have been or will be
so deposited. Within six Business Days (or within such shorter period as
release can reasonably be accomplished if the Master Servicer notifies the
Trustee of an exigency) of receipt of such notice and request, the Trustee
(or, to the extent provided in Section 3.01(b), the Master Servicer or the
Special Servicer, as applicable) shall execute such instruments of
satisfaction, deeds of reconveyance and other documents as shall have been
furnished to it by the Master Servicer, and the Trustee shall release and
deliver the related Mortgage File to the Master Servicer or Special Servicer,
as the case may be. No expenses incurred in connection with any instrument of
satisfaction or deed of reconveyance shall be chargeable to the Collection
Account or any Mortgage Loan Combination Custodial Account.

          (b) From time to time as is appropriate for servicing or foreclosure
of any Mortgage Loan, the Master Servicer or the Special Servicer, as
applicable, shall deliver to the Trustee two copies of a Request for Release
signed by a Servicing Officer (or in a mutually agreeable electronic format
that will, in lieu of a signature on its face, originate from a Servicing
Officer). Upon receipt of the foregoing, the Trustee shall deliver the
Mortgage File or any document therein to the Master Servicer or the Special
Servicer (or a designee), as the case may be. Upon return of the Mortgage File
to the Trustee, the Trustee shall execute an acknowledgment of receipt.

          (c) Within seven Business Days (or within such shorter period as
delivery can reasonably be accomplished if the Special Servicer notifies the
Trustee of an exigency) of receipt thereof, the Trustee shall execute and
deliver to the Special Servicer any court pleadings, requests for trustee's
sale or other documents necessary to the release of the lien of a Mortgage, or
to foreclosure or trustee's sale in respect of a Mortgaged Property or to any
legal action brought to obtain judgment against any Borrower on the Note or
Mortgage or to obtain a deficiency judgment, or to enforce any other remedies
or rights provided by the Note or Mortgage or otherwise available at law or in
equity. The Special Servicer shall be responsible for the preparation of all
such documents and pleadings. When submitted to the Trustee for signature,
such documents or pleadings shall be accompanied by a certificate of a
Servicing Officer requesting that such pleadings or documents be executed by
the Trustee and certifying as to the reason such documents or pleadings are
required, that the proposed action is in the best interest of the
Certificateholders (and, in the case of a Mortgage Loan Combination, the
related Non-Trust Companion Loan Holder(s)) (as a collective whole) and that
the execution and delivery thereof by the Trustee will not invalidate or
otherwise affect the lien of the Mortgage, except for the termination of such
a lien upon completion of the foreclosure or trustee's sale.

          (d) From time to time as is appropriate for servicing or foreclosure
of any Non-Trust Companion Loan, the Master Servicer or Special Servicer, as
applicable, subject to the related intercreditor, co-lender or similar
agreement, shall request the original of the related Note from the related
Non-Trust Companion Loan Holder.

                                    -144-
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          SECTION 3.11. Servicing Compensation.

          (a) As compensation for its activities hereunder, the Master
Servicer shall be entitled to receive the Master Servicing Fee (subject to the
third and last paragraphs of this Section 3.11(a)) with respect to each Trust
Mortgage Loan and REO Trust Mortgage Loan (including Specially Serviced Trust
Mortgage Loans, Defeasance Mortgage Loans and Additional Collateral Trust
Mortgage Loans). As to each Trust Mortgage Loan and REO Trust Mortgage Loan,
the Master Servicing Fee shall accrue at the related Master Servicing Fee Rate
(in accordance with the same terms of the related Note as are applicable to
the accrual of interest at the Mortgage Rate) and shall be computed on the
basis of the same principal amount as interest accrues from time to time on
such Trust Mortgage Loan or is deemed to accrue from time to time on such REO
Trust Mortgage Loan, as the case may be, and for the same period respecting
which any related interest payment due on such Trust Mortgage Loan or deemed
due on such REO Trust Mortgage Loan, as the case may be, is computed. The
Master Servicing Fee with respect to any Trust Mortgage Loan or REO Trust
Mortgage Loan shall cease to accrue if a Liquidation Event occurs in respect
thereof. The Master Servicing Fee shall be payable monthly, on a loan-by-loan
basis, from payments of interest on each Trust Mortgage Loan and REO Revenues
allocable as interest on each REO Trust Mortgage Loan. In no event will the
Master Servicer be entitled to retain a servicing fee from the amount of any
P&I Advance, regardless of whether the related Borrower is obligated to
reimburse Master Servicing Fees.

          The Master Servicer, on behalf of itself and the holder of the
Excess Servicing Strip, shall be entitled to recover unpaid Master Servicing
Fees in respect of any Trust Mortgage Loan or REO Trust Mortgage Loan required
to be serviced by it out of that portion of related payments, Insurance and
Condemnation Proceeds, Liquidation Proceeds and REO Revenues (in the case of
an REO Trust Mortgage Loan) allocable as recoveries of interest, to the extent
permitted by Section 3.05(a). Subject to the third and last paragraphs of this
Section 3.11(a), the right to receive the Master Servicing Fee and may not be
transferred in whole or in part except in connection with the transfer of all
of the Master Servicer's responsibilities and obligations under this
Agreement. The parties hereto acknowledge that the annual fees of each Rating
Agency allocable to the Column Trust Mortgage Loans and the KeyBank Trust
Mortgage Loans have been paid on or prior to the Closing Date by Column.

          Notwithstanding anything herein to the contrary, KRECM (and its
successors and assigns) may at its option assign or pledge to any third party
or retain for itself the Excess Servicing Strip (in whole but not in part);
provided that any assignee or pledgee of the Excess Servicing Strip must be a
Qualified Institutional Buyer or Institutional Accredited Investor (other than
a Plan); and provided, further, that no transfer, sale, pledge or other
assignment of the Excess Servicing Strip shall be made unless that transfer,
sale, pledge or other assignment is exempt from the registration and/or
qualification requirements of the Securities Act and any applicable state
securities laws and is otherwise made in accordance with the Securities Act
and such state securities laws; and provided, further, that in the event of
any resignation or termination of KRECM, all or any portion of the Excess
Servicing Strip may be reduced by the Trustee to the extent reasonably
necessary (in the sole discretion of the Trustee) for the Trustee to obtain a
qualified successor Master Servicer (which successor may include the Trustee)
that meets the requirements of Section 6.04 and that requires market rate
servicing compensation that accrues at a per annum rate in excess of 0.01% per
annum (one basis point). KRECM and each holder of the Excess Servicing Strip
desiring to effect a transfer, sale, pledge or other assignment of the Excess
Servicing Strip shall, and KRECM hereby agrees, and each such holder of the
Excess Servicing Strip by its acceptance of the Excess Servicing Strip shall
be deemed to have agreed, in connection with any

                                    -145-
<PAGE>

transfer of the Excess Servicing Strip effected by such Person, to indemnify
the Certificateholders, the Trust, the Non-Trust Companion Loan Holders, the
Depositor, the Underwriters, the Trustee, the Master Servicer, the Certificate
Registrar and the Special Servicer against any liability that may result if
such transfer is not exempt from registration and/or qualification under the
Securities Act or other applicable federal and state securities laws or is not
made in accordance with such federal and state laws or in accordance with the
foregoing provisions of this paragraph. By its acceptance of the Excess
Servicing Strip, the holder thereof shall be deemed to have agreed (i) to keep
all information relating to the Trust and the Trust Fund and made available to
it by the Master Servicer confidential (except as permitted pursuant to clause
(iii) below or, in the case of the Master Servicer, as contemplated hereby in
the performance of its duties and obligations hereunder), (ii) not to use or
disclose such information in any manner that could result in a violation of
any provision of the Securities Act or other applicable securities laws or
that would require registration of the Excess Servicing Strip or any
Non-Registered Certificate pursuant to the Securities Act, and (iii) not to
disclose such information, and to cause its officers, directors, partners,
employees, agents or representatives not to disclose such information, in any
manner whatsoever, in whole or in part, to any other Person other than such
holder's auditors, legal counsel and regulators, except to the extent such
disclosure is required by law, court order or other legal requirement or to
the extent such information is of public knowledge at the time of disclosure
by such holder or has become generally available to the public other than as a
result of disclosure by such holder; provided, however, that such holder may
provide all or any part of such information to any other Person who is
contemplating an acquisition of the Excess Servicing Strip if, and only if,
such Person (x) confirms in writing such prospective acquisition and (y)
agrees in writing to keep such information confidential, not to use or
disclose such information in any manner that could result in a violation of
any provision of the Securities Act or other applicable securities laws or
that would require registration of the Excess Servicing Strip or any
Non-Registered Certificates pursuant to the Securities Act and not to disclose
such information, and to cause its officers, directors, partners, employees,
agents or representatives not to disclose such information, in any manner
whatsoever, in whole or in part, to any other Person other than such Persons'
auditors, legal counsel and regulators. From time to time following any
transfer, sale, pledge or assignment of the Excess Servicing Strip, the Person
then acting as the Master Servicer shall pay, out of each amount paid to such
Master Servicer as Master Servicing Fees with respect to any Trust Mortgage
Loan or REO Trust Mortgage Loan, as the case may be, the portion of the Excess
Servicing Strip attributable to such Trust Mortgage Loan or REO Trust Mortgage
Loan to the holder of the Excess Servicing Strip within one Business Day
following the payment of such Master Servicing Fees to the Master Servicer, in
each case in accordance with payment instructions provided by such holder in
writing to the Master Servicer. The holder of the Excess Servicing Strip shall
not have any rights under this Agreement except as set forth in the preceding
sentences of this paragraph. The Master Servicer shall pay the Excess
Servicing Strip to the holder of the Excess Servicing Strip (i.e., KRECM or
any such third party) at such time and to the extent the Master Servicer is
entitled to receive payment of its Master Servicing Fees hereunder,
notwithstanding any resignation or termination of KRECM hereunder (subject to
reduction pursuant to the preceding sentence).

          Additional master servicing compensation in the form of (i) 100% of
all assumption application fees and 50% of all assumption fees paid by the
Borrowers on all Trust Mortgage Loans that are not Specially Serviced Trust
Mortgage Loans (but only to the extent that all amounts then due and payable
with respect to such Trust Mortgage Loans have been paid), (ii) all Penalty
Charges actually collected on each Trust Mortgage Loan (other than Specially
Serviced Trust Mortgage Loans) but only to the extent that (A) all amounts
then due and payable with respect to such Trust Mortgage Loan (including
outstanding interest on all Advances accrued with respect to such Trust
Mortgage Loan) have

                                    -146-
<PAGE>

been paid, (B) the Trust Fund has been reimbursed with respect to
any Advances made with respect to such Trust Mortgage Loan, together with
interest thereon if such interest was paid to the Master Servicer or the
Trustee, as applicable, from a source of funds other than Penalty Charges
collected on such Trust Mortgage Loan, and (C) the Trust Fund has been
reimbursed for any Additional Trust Fund Expenses incurred since the Closing
Date with respect to such Trust Mortgage Loan and previously paid from a
source other than Penalty Charges on such Trust Mortgage Loan, (iii) charges
for beneficiary statements or demands and amounts collected for checks
returned for insufficient funds, (iv) all commercially reasonable fees
actually collected on or with respect to Trust Mortgage Loan modifications for
which the Master Servicer is responsible pursuant to Section 3.20 (but only to
the extent that all amounts then due and payable after giving effect to any
modification with respect to the related Trust Mortgage Loan have been paid),
(v) reasonable and customary consent fees and fees in connection with
defeasance, if any, and (vi) other customary charges, in each case only to the
extent actually paid by the related Borrower, shall be retained by the Master
Servicer and shall not be required to be deposited in the Collection Account
or any Mortgage Loan Combination Custodial Account pursuant to Section 3.04.
Notwithstanding anything to the contrary in clause (ii) of the first sentence
of this paragraph or in the last paragraph of Section 3.11(b), (x) the Master
Servicer shall be entitled to that portion, if any, of a Penalty Charge
collected on a Specially Serviced Trust Mortgage Loan that accrued prior to
the related Servicing Transfer Event and (y) if the Special Servicer has
partially waived any Penalty Charge part of which accrued prior to the related
Servicing Transfer Event, any collections in respect of such Penalty Charge
shall be shared pro rata by the Master Servicer and the Special Servicer based
on the respective portions of such Penalty Charge to which they would
otherwise have been entitled.

          The Master Servicer also shall be entitled to additional servicing
compensation in the form of: (i) interest or other income earned on deposits
relating to the Trust Fund in the Collection Account and any A/B Mortgage Loan
Combination Custodial Accounts, maintained by the Master Servicer in
accordance with Section 3.06 (but only to the extent of the Net Investment
Earnings, if any, with respect to each such account for each Collection
Period); (ii) interest earned on deposits in any Cash Collateral Account, any
Lockbox Account and the Servicing Accounts maintained by the Master Servicer
that is not required by applicable law or the related Trust Mortgage Loan to
be paid to the Borrower; and (iii) collections representing Prepayment
Interest Excesses for any Distribution Date (except to the extent necessary to
offset Prepayment Interest Shortfalls for such Distribution Date).

          The Master Servicer shall be entitled to a Master Servicing Fee, as
well as the additional master servicing compensation contemplated (other than
Penalty Charges) by the second preceding paragraph, with respect to each
Mayfair Mall Non-Trust Companion Loan or any successor REO Non-Trust Companion
Loan with respect thereto as if such Mortgage Loan was a Trust Mortgage Loan
or such REO Non-Trust Companion Loan was an REO Trust Mortgage Loan, as the
case may be; provided that such Master Servicing Fee and any such additional
master servicing compensation shall be paid hereunder solely out of
collections on or in respect of the subject Mayfair Mall Non-Trust Companion
Loan or any successor REO Non-Trust Companion Loan with respect thereto and,
in no event, out of the Trust Fund. Without limiting its rights under any
other agreement or arrangement, the Master Servicer shall not be entitled to
any Master Servicing Fees or any other compensation hereunder with respect to
the B-Note Non-Trust Companion Loans.

          Except as specifically provided in this Agreement, the Master
Servicer shall be required to pay out of its own funds all expenses incurred
by it in connection with its servicing activities hereunder (including,
without limitation, payment of any amounts due for premiums for any blanket or

                                    -147-
<PAGE>

master single interest Insurance Policy insuring against hazard losses
pursuant to Section 3.07), if and to the extent such expenses are not payable
directly out of the Collection Account or any Mortgage Loan Combination
Custodial Account, and the Master Servicer shall not be entitled to
reimbursement therefor except as expressly provided in this Agreement.

          In the event that KRECM is terminated or resigns as Master Servicer,
it (and its successors and assigns) will be entitled to retain the Excess
Servicing Strip, except to the extent that any portion of such Excess
Servicing Strip is needed (as determined by the Trustee in its discretion) to
compensate any replacement Master Servicer for assuming the duties of KRECM
under this Agreement.

          (b)  As compensation for its activities hereunder, the Special
Servicer shall be entitled to receive the Special Servicing Fee with respect
to each Specially Serviced Trust Mortgage Loan and REO Trust Mortgage Loan. As
to each such Specially Serviced Trust Mortgage Loan and REO Trust Mortgage
Loan, the Special Servicing Fee shall accrue at the Special Servicing Fee Rate
(in accordance with the same terms of the related Note as are applicable to
the accrual of interest at the Mortgage Rate) and shall be computed on the
basis of the Stated Principal Balance of such Specially Serviced Trust
Mortgage Loan and for the same period respecting which any related interest
payment due on such Specially Serviced Trust Mortgage Loan or deemed to be due
on such REO Trust Mortgage Loan is computed. The Special Servicing Fee with
respect to any Specially Serviced Trust Mortgage Loan or REO Trust Mortgage
Loan shall cease to accrue if a Liquidation Event occurs in respect thereof
or, in the case of a Specially Serviced Trust Mortgage Loan, when all
applicable Servicing Transfer Events cease to exist. The Special Servicing Fee
shall be payable monthly, on a loan-by-loan basis, to the extent permitted by
Section 3.05(a). The right to receive the Special Servicing Fee may not be
transferred in whole or in part except in connection with the transfer of all
of the Special Servicer's responsibilities and obligations under this
Agreement.

          Additional servicing compensation in the form of (i) 100% of all
assumption fees and assumption application fees on all Specially Serviced
Trust Mortgage Loans, (ii) 50% of all assumption fees on any Trust Mortgage
Loans other than Specially Serviced Trust Mortgage Loans and (iii) all
commercially reasonable extension fees and all fees received on or with
respect to Trust Mortgage Loan modifications for which the Special Servicer is
responsible pursuant to Section 3.20(a), but only to the extent actually
collected from the related Borrower and only to the extent that all amounts
then due and payable after giving effect to any modification with respect to
the related Trust Mortgage Loan (including those payable to the Master
Servicer pursuant to Section 3.11(a)) have been paid, shall be promptly paid
to the Special Servicer by the Master Servicer and shall not be required to be
deposited in the Collection Account or any Mortgage Loan Combination Custodial
Account pursuant to Section 3.04.

          The Special Servicer shall also be entitled to additional servicing
compensation in the form of a Workout Fee with respect to each Corrected Trust
Mortgage Loan at the Workout Fee Rate. The Workout Fee shall be payable out
of, and shall be calculated by application of the Workout Fee Rate to, each
collection of interest, other than Default Interest and Excess Interest, and
principal (including scheduled payments, prepayments, Balloon Payments,
payments at maturity and payments received with respect to a partial
condemnation of a Mortgaged Property securing a Specially Serviced Trust
Mortgage Loan) received on such Trust Mortgage Loan for so long as it remains
a Corrected Trust Mortgage Loan. The Workout Fee with respect to any Corrected
Trust Mortgage Loan will cease to be payable if such Trust Mortgage Loan again
becomes a Specially Serviced Trust Mortgage Loan; provided that a new Workout
Fee will become payable if and when such Trust Mortgage Loan again

                                    -148-
<PAGE>

becomes a Corrected Trust Mortgage Loan. If the Special Servicer is
terminated (other than for cause) or resigns, it shall retain the right to
receive any and all Workout Fees payable with respect to Trust Mortgage Loans
that became Corrected Trust Mortgage Loans during the period that it acted as
Special Servicer and were Corrected Trust Mortgage Loans at the time of such
termination (and the successor Special Servicer shall not be entitled to any
portion of such Workout Fees), in each case until the Workout Fee for any such
loan ceases to be payable in accordance with the terms hereof.

          A Liquidation Fee will be payable to the Special Servicer with
respect to each Specially Serviced Trust Mortgage Loan or REO Trust Mortgage
Loan as to which the Special Servicer receives a full, partial or discounted
payoff with respect thereto from the related Borrower or any Liquidation
Proceeds with respect thereto, equal to the product of (i) the Liquidation Fee
Rate and (ii) the proceeds of such full, partial or discounted payoff or the
net Liquidation Proceeds (net of the related costs and expenses associated
with the related liquidation) related to such liquidated Specially Serviced
Mortgage Loan or REO Trust Mortgage Loan, as the case may be (in each such
case, however, exclusive of any portion of such payoff and/or proceeds that
represents Penalty Charges and/or Excess Interest); provided, however, that no
Liquidation Fee shall be payable out of, or in connection with the receipt of,
Liquidation Proceeds received as a result of the repurchase or replacement of
any Trust Mortgage Loan in connection with a Material Breach or Material
Defect by the related Mortgage Loan Seller or, in the case of a Column Trust
Mortgage Loan, by the Column Performance Guarantor as contemplated by Section
2.03 (so long as such repurchase or replacement occurs within the applicable
cure period set forth in the related Mortgage Loan Purchase Agreement, as such
cure period may be extended in accordance with the related Mortgage Loan
Purchase Agreement), the purchase of the Mayfair Mall Trust Mortgage Loan
during the applicable Cure Period by the Class MM Directing Certificateholder,
the Series 2003-C4 Directing Certificateholder or any Mayfair Mall Non-Trust
Companion Loan Holder pursuant to or as contemplated by Section 3.31, the
purchase of any Defaulted Trust Mortgage Loan by the Special Servicer or any
Affiliate thereof pursuant to Section 3.18, the purchase of any A-Note
Mortgage Loan by the related B-Note Non-Trust Companion Loan Holder pursuant
to the related A/B Intercreditor Agreement, the purchase of any Trust Mortgage
Loan by any related Mezzanine Loan Holder (but only so long as such purchase
occurs pursuant to a purchase option in the related intercreditor agreement
within the requisite time period) or the purchase of all the Trust Mortgage
Loans and REO Properties in the Trust Fund by Holders of more than 50% of the
Percentage Interests in the Controlling Class, the Special Servicer or the
Master Servicer pursuant to Section 9.01.

          Notwithstanding anything in this Agreement to the contrary, no
Liquidation Fee will be payable under the circumstances set forth in the
proviso in the preceding paragraph. If, however, Liquidation Proceeds are
received with respect to any Corrected Trust Mortgage Loan and the Special
Servicer is properly entitled to a Workout Fee, such Workout Fee will be
payable based on and out of the portion of such Liquidation Proceeds that
constitute principal and/or interest on such Trust Mortgage Loan.

          The Special Servicer will also be entitled to additional fees in the
form of Penalty Charges on each Specially Serviced Trust Mortgage Loan (but
only to the extent actually collected from the related Borrower and to the
extent that (i) all amounts then due and payable with respect to such
Specially Serviced Trust Mortgage Loan (including outstanding interest on all
Advances accrued with respect to such Specially Serviced Trust Mortgage Loan)
have been paid, (ii) the Trust Fund has been reimbursed with respect to any
Advances made with respect to such Specially Serviced Trust Mortgage Loan,
together with interest thereon if such interest was paid to the Master
Servicer or the Trustee, as

                                    -149-
<PAGE>

applicable, from a source of funds other than Penalty Charges collected on
such Specially Serviced Trust Mortgage Loan, and (iii) the Trust Fund has been
reimbursed for any Additional Trust Fund Expenses incurred since the Closing
Date with respect to such Specially Serviced Trust Mortgage Loan and
previously paid from a source other than Penalty Charges on such Trust
Mortgage Loan). The Special Servicer shall be required to pay out of its own
funds all expenses incurred by it in connection with its servicing activities
hereunder (including, without limitation, payment of any amounts, other than
management fees in respect of REO Properties, due and owing to any of its
Sub-Servicers and the premiums for any blanket or master single interest
Insurance Policy obtained by it insuring against hazard losses pursuant to
Section 3.07), if and to the extent such expenses are not payable directly out
of the Collection Account, a Mortgage Loan Combination Custodial Account or
the REO Account, and the Special Servicer shall not be entitled to
reimbursement therefor except as expressly provided in this Agreement.

          Notwithstanding the foregoing provisions of this Section 3.11(b),
Special Servicing Fees, Workout Fees and Liquidation Fees earned with respect
to any A-Note Trust Mortgage Loan, any successor REO Trust Mortgage Loan with
respect thereto or any related REO Property shall be payable out of the
related A/B Mortgage Loan Combination Custodial Account, to the maximum extent
permitted by the related A/B Intercreditor Agreement, before being paid out of
the Collection Account. Furthermore, notwithstanding the foregoing provisions
of this Section 3.11(b), Special Servicing Fees, Workout Fees and Liquidation
Fees earned with respect to the Mayfair Mall Trust Mortgage Loan or any
successor REO Trust Mortgage Loan with respect thereto shall be payable out of
the Mayfair Mall Custodial Account, to the maximum extent permitted by the
Mayfair Mall Intercreditor Agreement, before being paid out of the Collection
Account. The Special Servicer shall be entitled to such compensation with
respect to the B-Note Non-Trust Companion Loans as is provided under the
respective A/B Intercreditor Agreements; provided that, in no such case, shall
the payment of any such compensation reduce amounts otherwise payable to the
Certificateholders with respect to the related A-Note Trust Mortgage Loan. If
and to the extent applicable under the circumstances, the Special Servicer
shall be entitled to a Special Servicing Fee, a Workout Fee and/or a
Liquidation Fee, as well as the additional servicing compensation contemplated
by the second paragraph of this Section 3.11(b), with respect to each Mayfair
Mall Non-Trust Companion Loan or any successor REO Non-Trust Companion Loan
with respect thereto as if such Mortgage Loans was a Trust Mortgage Loan or
such REO Non-Trust Companion Loan was an REO Trust Mortgage Loan; provided
that any such fees and/or additional servicing compensation shall be paid
hereunder solely out of collections on or in respect of the subject Mayfair
Mall Non-Trust Companion Loan or any successor REO Non-Trust Companion Loan
with respect thereto, and in no event, out of the Trust Fund.

          SECTION 3.12. Reports to the Trustee.

          (a) The Master Servicer shall deliver to the Trustee and the Special
Servicer, no later than 2:00 p.m. New York City time on the second Business
Day prior to each Distribution Date beginning in October 2003, the CMSA Loan
Periodic Update File with respect to the subject Distribution Date (which
shall include the Available Distribution Amount for the subject Distribution
Date) including the anticipated P&I Advances and Servicing Advances for the
subject Distribution Date and any accrued but unpaid interest on Advances. As
to each Trust Mortgage Loan and REO Property (or related REO Trust Mortgage
Loan), to the extent that the relevant information is not included as part of
the CMSA Loan Periodic Update File, the Master Servicer shall provide to the
Special Servicer, by the close of business on each Distribution Date and in a
mutually agreeable electronic format, the

                                    -150-
<PAGE>

amount of each outstanding Advance and the interest accrued thereon
as of the related Determination Date. The Master Servicer's responsibilities
under this Section 3.12(a) with respect to Specially Serviced Trust Mortgage
Loans and REO Properties shall be subject to the satisfaction of the Special
Servicer's obligations under Section 3.21 and Section 3.12(c).

          (b) Notwithstanding the foregoing, because the Master Servicer will
not receive the Servicing Files until the Closing Date and will not have
sufficient time to review and analyze such Servicing Files before the initial
Distribution Date, the parties agree that the CMSA Loan Periodic Update File
required to be delivered by the Master Servicer in October 2003 will be based
solely upon information generated from actual collections received by the
Master Servicer and from information the Depositor delivers or causes to be
delivered to the Master Servicer (including but not limited to information
prepared by third party servicers of the subject Trust Mortgage Loans with
respect to the period prior to the Closing Date).

          (c) No later than 1:00 p.m. New York City time on each Master
Servicer Remittance Date beginning in October 2003, the Master Servicer shall
deliver or cause to be delivered to the Trustee the following reports with
respect to the Trust Mortgage Loans (and, if applicable, the related REO
Properties, providing the required information as of the related Determination
Date): (i) a CMSA Comparative Financial Status Report, (ii) a CMSA Delinquent
Loan Status Report; (iii) a CMSA Historical Loan Modification and Corrected
Mortgage Loan Report; (iv) a CMSA Historical Liquidation Report; (v) a CMSA
REO Status Report; (vi) a CMSA Servicer Watch List; (vii) a CMSA Property
File; (viii) a CMSA Loan Set-up File and (ix) a CMSA Financial File. Such
reports shall be in CMSA format (as in effect from time to time) and shall be
in an electronic format reasonably acceptable to both the Trustee and the
Master Servicer.

          The Special Servicer shall from time to time (and, in any event,
upon request) provide the Master Servicer with such information in its
possession regarding the Specially Serviced Mortgage Loans and REO Properties
as may be necessary for the Master Servicer to prepare each report and any
supplemental information to be provided by the Master Servicer to the Trustee.
Without limiting the generality of the foregoing, not later than 2:00 p.m.
(New York City time) on the Business Day following each Determination Date,
beginning in October 2003, the Special Servicer shall prepare and deliver or
cause to be delivered to the Master Servicer the following reports (or data
files relating to reports of the Master Servicer) with respect to the
Specially Serviced Mortgage Loans and REO Properties, providing the required
information as of such Determination Date: (i) a CMSA Property File; (ii) a
CMSA Loan Periodic Update File (which, in each case, if applicable, will
identify each of the subject Mortgage Loans by loan number and property name);
(iii) a CMSA Delinquent Loan Status Report; (iv) a CMSA Comparative Financial
Status Report; (v) a CMSA Historical Liquidation Report; (vi) a CMSA
Historical Loan Modification and Corrected Mortgage Loan Report; and (vii) a
CMSA REO Status Report.

          Notwithstanding the foregoing, the failure of the Master Servicer or
the Special Servicer to disclose any information otherwise required to be
disclosed pursuant to this Section 3.12 shall not constitute a breach of this
Agreement to the extent that the Master Servicer or the Special Servicer, as
the case may be, so fails because such disclosure, in the reasonable belief of
the Master Servicer or the Special Servicer, as the case may be, would violate
any applicable law or any provision of a Mortgage Loan Document prohibiting
disclosure of information with respect to the Mortgage Loans or the Mortgaged
Properties, would constitute a waiver of the attorney-client privilege on
behalf of the Trust or

                                    -151-
<PAGE>

would otherwise materially harm the Trust Fund. The Master Servicer
or the Special Servicer may affix to any information provided by it any
disclaimer it deems appropriate in its reasonable discretion (without
suggesting liability on the part of any other party hereto).

          The information that pertains to Specially Serviced Trust Mortgage
Loans and REO Properties reflected in the reports referred to above in this
Section 3.12(c) 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
by 2:00 p.m. New York City time on the second Business Day prior to the Master
Servicer Remittance Date in CMSA format (as in effect from time to time) or
shall be provided by means of such reports so delivered by the Special
Servicer to the Master Servicer in the form so required. The Master Servicer's
responsibilities under this Section 3.12(c) with respect to REO Properties and
Specially Serviced Trust Mortgage Loans shall be subject to the satisfaction
of the Special Servicer's obligations under this Section 3.12(c). In the
absence of manifest error, the Master Servicer shall be entitled to
conclusively rely upon, without investigation or inquiry, the information and
reports delivered to it by the Special Servicer, and the Trustee shall be
entitled to conclusively rely upon the Master Servicer's reports and the
Special Servicer's reports without any duty or obligation to recompute, verify
or recalculate any of the amounts and other information stated therein.

          (d) The Master Servicer shall deliver or cause to be delivered to
the Trustee the following materials, in each case to the extent that such
materials or the information on which they are based are required to be
delivered pursuant to the related Mortgage Loan Documents and have been
received by the Master Servicer:

               (i) At least annually by May 31, commencing May 31, 2004, or as
          soon thereafter as is reasonably practicable based upon when, and
          the format in which, the Master Servicer has received the subject
          information, with respect to each Trust Mortgage Loan and REO Trust
          Mortgage Loan (to the extent prepared by and timely received from
          the Special Servicer in the case of any Specially Serviced Trust
          Mortgage Loan or REO Trust Mortgage Loan), a CMSA Operating
          Statement Analysis Report and CMSA NOI Adjustment Worksheet for the
          related Mortgaged Property or REO Property as of the end of the
          preceding fiscal year, based upon (and accompanied by copies of) the
          operating statements and rent rolls (but only to the extent the
          related Borrower delivers such information to the Master Servicer or
          the Special Servicer and, with respect to operating statements and
          rent rolls for Specially Serviced Trust Mortgage Loans and REO
          Properties, to the extent timely delivered by the Special Servicer
          to the Master Servicer) for the related Mortgaged Property or REO
          Property as of the end of the preceding fiscal year.

               The Master Servicer shall use its reasonable efforts (but shall
          not be required to institute litigation) to obtain quarterly and
          annual operating statements and rent rolls with respect to each of
          the Trust Mortgage Loans, other than Specially Serviced Trust
          Mortgage Loans, which efforts shall include sending a letter to the
          related Borrower each quarter (followed up with telephone calls)
          requesting such quarterly and annual operating statements and rent
          rolls by no later than 60 days after the subject fiscal quarter or
          90 days after the subject fiscal year, as applicable, to the extent
          such action is consistent with applicable law, the terms of such
          Trust Mortgage Loans and the Servicing Standard. The Master Servicer
          shall (to the extent not delivered pursuant to the preceding
          paragraph) deliver copies of all of the foregoing items so

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          collected to the Special Servicer, the Series 2003-C4 Directing
          Certificateholder and any Requesting Certificateholder (at the
          expense of such requesting Holder) and, upon request, the Trustee,
          (x) in the case of quarterly operating statements and rent rolls,
          within the later of (A) 60 days after the subject fiscal quarter and
          (B) 30 days following receipt by the Master Servicer of such
          operating statements and rent rolls (or, if received from the
          Special Servicer, 10 days following such receipt), and (y) in the
          case of annual operating statements and rent rolls, not later than
          the later of (A) May 31 of each calendar year, commencing May 31,
          2004, and (B) 30 days following receipt by the Master Servicer of
          such operating statements and rent rolls (or, if received from the
          Special Servicer, 10 days following such receipt).

               (ii) The Master Servicer shall maintain a CMSA Operating
          Statement Analysis Report for each Mortgaged Property (other than
          any such Mortgaged Property which is an REO Property or constitutes
          security for a Specially Serviced Trust Mortgage Loan) that shall be
          prepared or, once prepared, updated by the Master Servicer and
          delivered to the Trustee within 30 days after receipt by the Master
          Servicer of updated operating statements for such Mortgaged
          Property; provided that the Master Servicer shall not be required to
          update the CMSA Operating Statement Analysis Reports more often than
          quarterly or such other longer period as operating statements are
          required to be delivered to the lender by the Borrower pursuant to
          the related Mortgage Loan Documents.

          The Special Servicer will be required pursuant to Section 3.12(f) to
deliver to the Master Servicer the information required pursuant to this
Section 3.12(d) with respect to Specially Serviced Trust Mortgage Loans and
REO Trust Mortgage Loans on or before April 30 of each year, commencing on
April 30, 2004, and within ten days after its receipt of any operating
statement for any related Mortgaged Property or REO Property.

          (e) The Master Servicer's responsibilities under this Section 3.12
with respect to REO Properties and Specially Serviced Trust Mortgage Loans
shall be subject to the satisfaction of the Special Servicer's obligations
under Section 3.12. In the absence of manifest error, the Master Servicer
shall be entitled to conclusively rely upon, without investigation or inquiry,
the information and reports delivered to it by the Special Servicer, and the
Trustee shall be entitled to conclusively rely upon the Master Servicer's
reports and the Special Servicer's reports without any duty or obligation to
recompute, verify or recalculate any of the amounts and other information
stated therein.

          (f) The Special Servicer shall deliver or cause to be delivered to
the Master Servicer and, upon the request of the Trustee, the Depositor or any
Rating Agency, to any such requesting party, the following materials, in each
case to the extent that such materials or the information on which they are
based are required to be delivered by the Borrower pursuant to the related
Mortgage Loan Documents and have been received by the Special Servicer:

               (i) Annually, on or before April 30 of each year, commencing in
          April 30, 2004, or as soon thereafter as is reasonably practicable
          based upon when, and the format in which, the Special Servicer has
          received the subject information, with respect to each Specially
          Serviced Trust Mortgage Loan and REO Trust Mortgage Loan, a CMSA
          Operating Statement Analysis Report and CMSA NOI Adjustment
          Worksheet, both in written form and in electronic format reasonably
          acceptable to the Master Servicer, the Special Servicer and the
          Trustee for the related Mortgaged Property or REO Property as of the
          end of the preceding fiscal year (but only

                                    -153-
<PAGE>

          to the extent the Special Servicer has received such
          information from the Master Servicer at the time of the servicing
          transfer pursuant to Section 3.21 as is necessary to prepare the
          related CMSA Operating Statement Analysis Report and CMSA NOI
          Adjustment Worksheet on a prospective basis), based upon (and
          accompanied by copies of) the operating statements and rent rolls
          for the related Mortgaged Property or REO Property as of the end of
          the preceding fiscal year.

               The Special Servicer shall use its reasonable efforts (but
          shall not be required to institute litigation) to obtain quarterly
          and annual operating statements and rent rolls with respect to each
          Mortgaged Property constituting security for a Specially Serviced
          Trust Mortgage Loan, which efforts shall include sending a letter to
          the related Borrower or other appropriate party each quarter
          (followed up with telephone calls) requesting such annual operating
          statements and rent rolls by no later than 60 days after the subject
          fiscal quarter or 90 days after the subject fiscal year, as
          applicable, and shall cause quarterly and annual operating
          statements and rent rolls to be prepared and delivered to it with
          respect to each REO Property within 60 days after each fiscal
          quarter or 90 days after each fiscal year, as applicable. The
          Special Servicer shall (to the extent not delivered pursuant to the
          preceding paragraph) deliver copies of all of the foregoing items so
          collected to the Master Servicer, the Series 2003-C4 Directing
          Certificateholder and any Requesting Certificateholder (at the
          expense of such requesting Holder), and upon request, the Trustee
          and the Depositor, (x) in the case of quarterly operating statements
          and rent rolls, within the later of (A) 60 days after such quarter
          and (B) 20 days following receipt by the Special Servicer of such
          operating statements and rent rolls, and (y) in the case of annual
          operating statements and rent rolls, not later than the later of (A)
          April 30 of each calendar year and (B) 20 days following receipt by
          the Special Servicer of such operating statements and rent rolls.

               (ii) The Special Servicer shall maintain a CMSA Operating
          Statement Analysis Report, both in written form and in electronic
          format reasonably acceptable to the Master Servicer, the Special
          Servicer and the Trustee, for each Mortgaged Property which
          constitutes security for a Specially Serviced Trust Mortgage Loan or
          is an REO Property that shall be prepared or, once prepared, updated
          by the Special Servicer and delivered to the Master Servicer within
          10 days after receipt by the Special Servicer of updated operating
          statements for each such Mortgaged Property; provided that the
          Special Servicer shall not be required to update the CMSA Operating
          Statement Analysis Reports more often than quarterly.

          (g) The Trustee shall be entitled to rely conclusively on and shall
not be responsible for the content or accuracy of any information provided to
it by the Master Servicer or the Special Servicer pursuant to this Agreement.

          (h) If the Master Servicer or the Special Servicer is required to
deliver any statement, report or information under any provision of this
Agreement, the Master Servicer or the Special Servicer, as the case may be,
may satisfy such obligation by (x) physically delivering a paper copy of such
statement, report or information, (y) delivering such statement, report or
information in a commonly used electronic format or (z) making such statement,
report or information available on the Master Servicer's internet website,
unless this Agreement expressly specifies a particular method of delivery or
such statement, report or information must be filed with the Commission as
contemplated by Section 3.26.

                                    -154-
<PAGE>

          (i) The Master Servicer shall, with the reasonable cooperation of
the other parties hereto, deliver to each B-Note Non-Trust Companion Loan
Holder all documents, statements, reports and information with respect to the
related B-Note Non-Trust Companion Loan and/or the related Mortgaged Property
as may be required under the related A/B Intercreditor Agreement.

          (j) The Special Servicer shall prepare and deliver to the Master
Servicer, and the Master Servicer shall prepare, if necessary, and deliver to
each Mayfair Mall Non-Trust Companion Loan Holder, with respect to the related
Mayfair Mall Non-Trust Companion Loan or any related REO Property or its
designee, all of the same type of reports, documents and other information
(whether pursuant to this Section 3.12 or otherwise) that the Special Servicer
or the Master Servicer, as the case may be, is required to prepare and deliver
to the Master Servicer, in the case of the Special Servicer, or to the
Trustee, in the case of the Master Servicer, with respect to the Mayfair Mall
Trust Mortgage Loan or any related REO Property, on a concurrent basis.

          SECTION 3.13. Annual Statement as to Compliance.

          The Master Servicer and the Special Servicer shall each deliver to
the Trustee and to the Rating Agencies, the Depositor, the Series 2003-C4
Directing Certificateholder, the Class MM Directing Certificateholder, each
Mayfair Mall Non-Trust Companion Loan Holder (or its designee) and any
Requesting Subordinate Certificateholder (at the expense of such Requesting
Subordinate Certificateholder) on or before May 1 of each year, beginning in
2003, an Officer's Certificate of the Master Servicer or Special Servicer
stating that, among other things, to the best of such officer's knowledge, the
Master Servicer or Special Servicer, as the case may be, has fulfilled its
obligations under the Pooling and Servicing Agreement in all material respects
throughout the preceding year (or such shorter period as may be applicable)
or, if there has been a material default, specifying each material default
known to such officer, the nature and status of such default and the action
proposed to be taken with respect thereto, and whether the Master Servicer or
the Special Servicer, as the case may be, has received any notice regarding
qualification, or challenging the status, of any REMIC Pool as a REMIC or
either Grantor Trust Pool as a Grantor Trust from the IRS or any other
governmental agency or body (or, if it has received any such notice,
specifying the details thereof); provided that each of the Master Servicer and
Special Servicer shall be required to deliver such Officer's Certificate by
March 15 in 2004 or in any given year thereafter if it has received written
confirmation from the Trustee or the Depositor by January 31 of that year that
an Annual Report on Form 10-K is required to be filed in respect of the Trust
(or any securitization trust holding a Mayfair Mall Non-Trust Companion Loan)
for the preceding calendar year. The Trustee hereby notifies the Master
Servicer and the Special Servicer that an Annual Report on Form 10-K shall be
required to be filed with respect to the Trust for 2003. The Trustee shall
deliver such Officer's Certificate, upon request, to any Certificateholder. If
the same entity acts as Master Servicer and Special Servicer, the foregoing
may be delivered as a single certificate.

          SECTION 3.14. Reports by Independent Public Accountants.

          On or before May 1 of each year, beginning in 2003, the Master
Servicer and the Special Servicer (the "reporting person"), each at the
reporting person's expense, shall cause a firm of nationally recognized
Independent public accountants (who may also render other services to the
reporting person) which is a member of the American Institute of Certified
Public Accountants ("AICPA") to furnish a statement (an "Accountant's
Statement") to the Trustee, the Depositor and the Rating Agencies, the Series
2003-C4 Directing Certificateholder, the Class MM Directing Certificateholder,
each Mayfair

                                    -155-
<PAGE>

Mall Non-Trust Companion Loan Holder (or its designee) and any
Requesting Subordinate Certificateholder (at the expense of such Requesting
Subordinate Certificateholder) to the effect that such firm has examined
certain documents and records relating to the servicing of the Mortgage Loans
and/or similar mortgage loans under this Agreement and/or similar agreements
during the previous calendar year and that, on the basis of such examination
conducted substantially in compliance with generally accepted auditing
standards and the Uniform Single Attestation Program for Mortgage Bankers or
the Audit Program for Mortgages serviced for FHLMC, such servicing has been
conducted during the previous calendar year in compliance with the minimum
servicing standards, to the extent applicable to multifamily and commercial
mortgage loans, identified in generally accepted auditing standards and the
Uniform Single Attestation Program for Mortgage Bankers or the Audit Program
for Mortgages serviced for FHLMC, except for such significant exceptions or
errors in records that, in the opinion of such firm, generally accepted
auditing standards and the Uniform Single Attestation Program for Mortgage
Bankers or the Audit Program for Mortgages serviced for FHLMC, as applicable,
require it to report, in which case such exceptions and errors shall be so
reported; provided that the Master Servicer and Special Servicer shall be
required to cause the delivery of its Accountant's Statement by March 15 in
2004 or in any given year thereafter if it has received written confirmation
from the Trustee or the Depositor by January 31 of that year that a Report on
Form 10-K is required to be filed in respect of the Trust (or any
securitization trust holding a Mayfair Mall Non-Trust Companion Loan) for the
preceding calendar year. The Trustee hereby notifies the Master Servicer and
the Special Servicer that an Annual Report on Form 10-K shall be required to
be filed with respect to the Trust for 2003.

          Each reporting person shall obtain from the related accountants, or
shall prepare, an electronic version of each Accountant's Statement and
provide such electronic version to the Trustee for filing in accordance with
the procedures set forth in Section 3.26 hereof. In rendering such statement,
such firm may rely, as to matters relating to direct servicing of mortgage
loans by Sub-Servicers, upon comparable statements for examinations conducted
substantially in compliance with the Uniform Single Attestation Program for
Mortgage Bankers (rendered within one year of such statement) of independent
public accountants with respect to the related Sub-Servicer.

          SECTION 3.15. Access to Certain Information.

          (a) Each of the Master Servicer and the Special Servicer shall
provide reasonable access during its normal business hours at each of its
principal servicing offices to any Certificateholder, Certificate Owner or
holder of a security backed by a Non-Trust Companion Loan that is, or is
affiliated with, a federally insured financial institution, the Trustee, the
Depositor, each Rating Agency, to the Master Servicer or to the Special
Servicer, as applicable, and to the OTS, the FDIC, the Federal Reserve Board
and the supervisory agents and examiners of such boards and such corporations,
and any other federal or state banking or insurance regulatory authority that
may exercise authority over any Certificateholder, Certificate Owner or holder
of a security backed by a Non-Trust Companion Loan, access to any
documentation regarding the Mortgage Loans and the Trust Fund (or, in the case
of a holder of a security backed by a Non-Trust Companion Loan, regarding such
Non-Trust Companion Loan) within its control which may be required by this
Agreement or by applicable law.

          Such access shall be afforded without charge (except that the Master
Servicer and the Special Servicer may charge a reasonable fee for copies and
out-of-pocket costs to parties other than the Rating Agencies) but only upon
reasonable prior written request and during normal business hours at the
offices of the Master Servicer or the Special Servicer, as the case may be,
designated by it. Nothing in

                                    -156-
<PAGE>

this Section 3.15 shall detract from the obligation of the Master
Servicer and the Special Servicer to observe any applicable law or agreement
prohibiting disclosure of information with respect to the Borrowers, and the
failure of the Master Servicer or the Special Servicer to provide access as
provided in this Section 3.15 as a result of such obligation shall not
constitute a breach of this Section 3.15. Nothing herein shall be deemed to
require the Master Servicer or Special Servicer to confirm, represent or
warrant the accuracy of any other Persons' information or report, included in
any communication from the Master Servicer, the Special Servicer or Borrower.
Notwithstanding the above, the Master Servicer and Special Servicer shall not
have any liability to the Depositor, the Trustee, any Certificateholder, any
Certificate Owner, the Initial Purchaser, any Underwriter, any Rating Agency
or any other Person to whom it delivers information pursuant to and in
accordance with this Section 3.15 or any other provision of this Agreement for
federal, state or other applicable securities law violations relating to the
disclosure of such information, unless the Master Servicer or Special
Servicer, as the case may be, acted with negligence, bad faith or willful
misfeasance. The Master Servicer and the Special Servicer may each deny any of
the foregoing persons access to confidential information or any intellectual
property which the Master Servicer or the Special Servicer is restricted by
license or contract from disclosing. Notwithstanding the foregoing, the Master
Servicer and the Special Servicer shall maintain separate from such
confidential information and intellectual property, all documentation
regarding the Mortgage Loans and REO Properties that is not confidential.

          (b) The Master Servicer may, in accordance with such reasonable
rules and procedures as it may adopt, also make available through its Website
or otherwise, any additional information relating to the Trust Mortgage Loans,
the Mortgaged Properties or the Borrowers, for review by the Depositor, the
Rating Agencies and any other Persons to whom the Master Servicer believes
such disclosure is appropriate, in each case except to the extent doing so is
prohibited by applicable law or by the related Trust Mortgage Loan.

          (c) The Master Servicer and the Special Servicer shall make the
following items available at their respective offices during normal business
hours, for review by the Depositor, the Trustee, any Non-Trust Companion Loan
Holder (or its designee), the Rating Agencies, any Certificateholder, any
Certificate Owner, any prospective transferee of a Certificate or an interest
therein and any other Persons to whom the Master Servicer or the Special
Servicer, as applicable, believes such disclosure to be appropriate, or shall
send such items to any requesting party (at the expense of such requesting
party, except in the case of the Series 2003-C4 Directing Certificateholder
(so long as the requests are not excessive or duplicative), the Class MM
Directing Certificateholder (so long as the requests are not excessive or
duplicative), any Non-Trust Companion Loan Holder (or its designee) (so long
as the requests are not excessive or duplicative), the Trustee and the Rating
Agencies, and except as otherwise provided in the last sentence of this
paragraph): (i) all financial statements, occupancy information, rent rolls,
retail sales information, average daily room rates and similar information
received from the respective Borrowers or otherwise obtained by the Master
Servicer or the Special Servicer, as applicable, (ii) the inspection reports
prepared by or on behalf of the Master Servicer or the Special Servicer, as
applicable, with respect to the respective Mortgaged Properties in connection
with the property inspections pursuant to Section 3.19, (iii) any appraisals
and/or internal valuations prepared by or on behalf of the Master Servicer or
the Special Servicer, as applicable, with respect to the respective Mortgaged
Properties in accordance with this Agreement, (iv) any and all modifications,
waivers and amendments of the terms of a Trust Mortgage Loan entered into by
the Master Servicer or the Special Servicer, as applicable, and (v) any and
all officer's certificates and other evidence delivered to the Trustee and the
Depositor to support the Master Servicer's determination that any Advance was,

                                    -157-
<PAGE>

or if made would be, a Nonrecoverable Advance. Copies of all such information
shall be delivered by the Master Servicer or the Special Servicer, as
applicable, upon request, not more frequently than quarterly to the
Certificateholders (or, if the Controlling Class of Certificates is held in
book-entry form, the Certificate Owners) of the Controlling Class (as
identified by the related Depository Participant and for so long as such Class
remains outstanding) at the address specified by such Certificate Owners;
provided, however, that if beneficial ownership of the Controlling Class
resides in more than one Certificateholder or Certificate Owner, as
applicable, the Master Servicer or the Special Servicer, as applicable, shall
be responsible only for the expense of providing the first such copy of such
information and shall be entitled to reimbursement from the requesting party
for the expense of any additional copies so provided.

          (d) With respect to any information furnished by the Master Servicer
or the Special Servicer pursuant to the foregoing provisions of this Section
3.15, the Master Servicer or the Special Servicer, as the case may be, shall
be entitled to indicate the source of such information, and the Master
Servicer or the Special Servicer, as applicable, may affix thereto any
disclaimer it deems appropriate in its discretion. In connection with
providing access to or copies of the items described above in this Section
3.15 to Certificateholders, Certificate Owners, prospective purchasers of
Certificates or interests therein or investment advisors of any of the
foregoing, the Master Servicer or the Special Servicer, as the case may be,
shall require: (i) in the case of Certificateholders and Certificate Owners, a
confirmation executed by the requesting Person in form and substance
reasonably acceptable to the Master Servicer or the Special Servicer, as
applicable, generally to the effect that such Person is a registered or
beneficial holder of Certificates or an investment advisor representing such
Person and is requesting the information solely for use in evaluating such
Person's investment in the Certificates and will otherwise keep such
information confidential; and (ii) in the case of a prospective purchaser or
an investment advisor representing such Person, confirmation executed by the
requesting Person in form and substance reasonably acceptable to the Master
Servicer or the Special Servicer, as the case may be, generally to the effect
that such Person is a prospective purchaser of a Certificate or an interest
therein or an investment advisor representing such Person, and is requesting
the information solely for use in evaluating a possible investment in
Certificates and will otherwise keep such information confidential. Neither
the Master Servicer nor the Special Servicer shall be liable for the
dissemination of information in accordance with this Agreement.

          (e) any transmittal of information by the Master Servicer or Special
Servicer to any Person other than the Trustee, the Rating Agencies or the
Depositor may be accompanied by a letter from the Master Servicer or Special
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 Credit Suisse First Boston Mortgage
          Securities Corp., Commercial Mortgage Pass-Through Certificates,
          Series 2003-C4 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 purposes of,
          and such information may be used only in connection with, evaluation
          by you or another Certificateholder or prospective purchaser of such
          Certificates or beneficial interest therein."

                                    -158-
<PAGE>

          (f) Notwithstanding anything in this Agreement to the contrary, the
Master Servicer and the Special Servicer may withhold any information not yet
included in a Current Report on Form 8-K filed with the Commission or
otherwise made publicly available with respect to which the Trustee, the
Special Servicer or the Master Servicer has determined that such withholding
is appropriate in accordance with applicable law.

          (g) Except as otherwise required by this Agreement and except for
statements, reports and information to be filed with the Commission as
contemplated by Section 3.26, the Master Servicer and the Special Servicer
each may, in its discretion, make available by hard copy, electronic media,
internet website or bulletin board service certain information and may make
available by hard copy, electronic media, internet website or bulletin board
service any reports or information that the Master Servicer or the Special
Servicer is required by this Agreement to provide to any of the Rating
Agencies, the Trustee, the Depositor and anyone the Depositor reasonably
designates.

          SECTION 3.16. Title to REO Property; REO Account.

          (a) If title to any REO Property is acquired, the deed or
certificate of sale shall be issued to the Trustee or its nominee, on behalf
of the Certificateholders and, if such REO Property relates to a Mortgage Loan
Combination, on behalf of the related Non-Trust Companion Loan Holder(s). The
Special Servicer, on behalf of the Trust and, if such REO Property relates to
a Mortgage Loan Combination, on behalf of the related Non-Trust Companion Loan
Holder(s), shall sell any REO Property in accordance with Section 3.18 by the
end of the third calendar year following the year in which the Trust acquires
ownership of such REO Property for purposes of Section 860G(a)(8) of the Code,
unless the Special Servicer either (i) applies, more than 60 days prior to the
expiration of such liquidation period, for and is granted an extension of time
(an "REO Extension") by the IRS to sell such REO Property or (ii) obtains for
the Trustee an Opinion of Counsel, addressed to the Trustee, to the effect
that the holding by the Trust of such REO Property subsequent to the end of
the third calendar year following the year in which such acquisition occurred
will not result in an Adverse REMIC Event with respect to any REMIC Pool or an
Adverse Grantor Trust Event with respect to either Grantor Trust Pool.
Regardless of whether the Special Servicer applies for or is granted the REO
Extension contemplated by clause (i) of the immediately preceding sentence or
obtains the Opinion of Counsel referred to in clause (ii) of such sentence,
the Special Servicer shall act in accordance with the Servicing Standard to
liquidate the subject REO Property on a timely basis. If the Special Servicer
is granted such REO Extension or obtains such Opinion of Counsel with respect
to any REO Property, the Special Servicer shall (i) promptly forward a copy of
such REO Extension or Opinion of Counsel to the Trustee, and (ii) sell such
REO Property within such extended period as is permitted by such REO Extension
or contemplated by such Opinion of Counsel, as the case may be. Any expense
incurred by the Special Servicer in connection with its applying for and being
granted the REO Extension contemplated by clause (i) of the third preceding
sentence or its obtaining the Opinion of Counsel contemplated by clause (ii)
above shall be an expense of the Trust Fund (or, if applicable, the Trust Fund
and any affected Non-Trust Companion Loan Holder(s)) payable out of the
Collection Account pursuant to Section 3.05 (or, if applicable, out of the
related Mortgage Loan Combination Custodial Account pursuant to Section 3.04).

          (b) The Special Servicer shall segregate and hold all funds
collected and received by it in connection with any REO Property separate and
apart from its own funds and general assets. If title to any REO Property is
acquired by or on behalf of the Trust (or, if such REO Property relates to a
Mortgage Loan Combination, on behalf of the Trust Fund and the related
Non-Trust Companion Loan

                                    -159-
<PAGE>

Holder(s)), then the Special Servicer shall establish and maintain
one or more accounts (collectively, the "REO Account"), to be held on behalf
of the Trustee in trust for the benefit of the Certificateholders (and any
affected Non-Trust Companion Loan Holder(s)), for the retention of revenues
and other proceeds derived from such REO Property. Each account that
constitutes an REO Account shall be an Eligible Account. The Special Servicer
shall deposit, or cause to be deposited, in the REO Account, within one
Business Day following receipt, all REO Revenues, Insurance and Condemnation
Proceeds and Liquidation Proceeds received in respect of an REO Property.
Funds in the REO Account may be invested in Permitted Investments in
accordance with Section 3.06. The Special Servicer shall be entitled to make
withdrawals from the REO Account to pay itself, as additional special
servicing compensation, interest and investment income earned in respect of
amounts held in the REO Account as provided in Section 3.06(b) (but only to
the extent of the Net Investment Earnings, if any, with respect to the REO
Account for any Collection Period). The Special Servicer shall give notice to
the other parties hereto of the location of the REO Account when first
established and of the new location of the REO Account prior to any change
thereof.

          (c) The Special Servicer shall withdraw from the REO Account funds
necessary for the proper operation, management, leasing, maintenance and
disposition of any REO Property, but only to the extent of amounts on deposit
in the REO Account relating to such REO Property. On the first Business Day
following each Determination Date, the Special Servicer shall withdraw from
the REO Account and deposit into the Collection Account (or, if the subject
REO Property relates to a Mortgage Loan Combination, into the related Mortgage
Loan Combination Custodial Account), or deliver to the Master Servicer for
deposit into the Collection Account (or, if the subject REO Property relates
to a Mortgage Loan Combination, into the related Mortgage Loan Combination
Custodial Account), the aggregate of all amounts received in respect of each
REO Property during the Collection Period ending on such Determination Date
that are then on deposit in the REO Account, net of any withdrawals made out
of such amounts pursuant to the preceding sentence; provided that, in the case
of each REO Property, the Special Servicer may retain in the REO Account such
portion of such proceeds and collections as may be necessary to maintain a
reserve of sufficient funds for the proper operation, management, leasing,
maintenance and disposition of such REO Property (including the creation of a
reasonable reserve for repairs, replacements, necessary capital improvements
and other related expenses), such reserve not to exceed an amount sufficient
to cover such items reasonably expected to be incurred during the following
12-month period.

          (d) The Special Servicer shall keep and maintain separate records,
on a property-by-property basis, for the purpose of accounting for all
deposits to, and withdrawals from, the REO Account pursuant to Section 3.16(b)
or 3.16(c).

          SECTION 3.17. Management of REO Property.

          (a) Prior to the acquisition of title to any Mortgaged Property
securing a defaulted Mortgage Loan, the Special Servicer shall review the
operation of such Mortgaged Property and determine the nature of the income
that would be derived from such property if it were acquired by the Trust. If
the Special Servicer determines from such review that:

               (i) None of the income from Directly Operating such Mortgaged
          Property would be subject to tax as "net income from foreclosure
          property" within the meaning of the REMIC Provisions or to the tax
          imposed on "prohibited transactions" under Section 860F of the

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          Code (either such tax referred to herein as an "REO Tax"), then
          such Mortgaged Property may be Directly Operated by the Special
          Servicer as REO Property;

               (ii) Directly Operating such Mortgaged Property as an REO
          Property could result in income from such property that would be
          subject to an REO Tax, but that a lease of such property to another
          party to operate such property, or the performance of some services
          by an Independent Contractor with respect to such property, or
          another method of operating such property would not result in income
          subject to an REO Tax, then the Special Servicer may (provided that
          in the judgment of the Special Servicer, exercised in accordance
          with the Servicing Standard, it is commercially reasonable) so lease
          or otherwise operate such REO Property; or

              (iii) It is reasonable to believe that Directly Operating such
          property as REO Property could result in income subject to an REO
          Tax and that no commercially reasonable means exists to operate such
          property as REO Property without the Trust incurring or possibly
          incurring an REO Tax on income from such property, then the Special
          Servicer shall deliver to the Trustee, to the Series 2003-C4
          Directing Certificateholder and, if the Mayfair Mall Mortgaged
          Property is affected, to each Mayfair Mall Non-Trust Companion Loan
          Holder (or its designee) and the Class MM Directing
          Certificateholder, in writing, a proposed plan (the "Proposed Plan")
          to manage such property as REO Property. Such plan shall include
          potential sources of income and good faith estimates of the amount
          of income from each such source. Within a reasonable period of time
          after receipt of such plan, the Trustee shall consult with the
          Special Servicer and shall advise the Special Servicer of the
          Trust's federal income tax reporting position with respect to the
          various sources of income that the Trust would derive under the
          Proposed Plan. In addition, the Trustee shall (to the maximum extent
          reasonably possible) advise the Special Servicer of the estimated
          amount of taxes that the Trust would be required to pay with respect
          to each such source of income. After receiving the information
          described in the two preceding sentences from the Trustee, the
          Special Servicer shall either (A) implement the Proposed Plan (after
          acquiring the respective Mortgaged Property as REO Property) or (B)
          manage and operate such property in a manner that would not result
          in the imposition of an REO Tax on the income derived from such
          property.

Subject to Section 3.17(b), the Special Servicer's decision as to how each REO
Property shall be managed and operated shall be in accordance with the
Servicing Standard. Neither the Special Servicer nor the Trustee shall be
liable to the Certificateholders, the Trust, the other parties hereto, any
affected Non-Trust Companion Loan Holder or each other for errors in judgment
made in good faith in the exercise of their discretion while performing their
respective responsibilities under this Section 3.17(a) with respect to any REO
Property. Nothing in this Section 3.17(a) is intended to prevent the sale of
any REO Property pursuant to the terms and subject to the conditions of
Section 3.18.

          (b) If title to any REO Property is acquired, the Special Servicer
shall manage, conserve, protect, operate and lease such REO Property for the
benefit of the Certificateholders (or, if such REO Property relates to a
Mortgage Loan Combination, for the benefit of the Certificateholders and the
related Non-Trust Companion Loan Holder(s)) solely for the purpose of its
prompt disposition and sale in accordance with Section 3.18, in a manner that
does not cause such REO Property to fail to qualify as "foreclosure property"
within the meaning of Section 860G(a)(8) of the Code or, except as
contemplated by Section 3.17(a), result in the receipt by any REMIC Pool of
any "income from non-

                                    -161-
<PAGE>

permitted assets" within the meaning of Section 860F(a)(2)(B) of the
Code, in an Adverse REMIC Event with respect to any REMIC Pool or in an
Adverse Grantor Trust Event with respect to either Grantor Trust Pool. Except
as contemplated by Section 3.17(a), the Special Servicer shall not enter into
any lease, contract or other agreement with respect to any REO Property that
causes the Trust to receive, and (unless required to do so under any lease,
contract or agreement to which the Special Servicer or the Trust may become a
party or successor to a party due to a foreclosure, deed-in-lieu of
foreclosure or other similar exercise of a creditor's rights or remedies with
respect to the related Mortgage Loan(s)) shall not, with respect to any REO
Property, cause or allow the Trust to receive, any "net income from
foreclosure property" that is subject to taxation under the REMIC Provisions.
Subject to the foregoing, however, the Special Servicer shall have full power
and authority to do any and all things in connection with the administration
of any REO Property as are consistent with the Servicing Standard, and
consistent therewith, shall withdraw from the REO Account, to the extent of
amounts on deposit therein with respect to such REO Property, funds necessary
for the proper operation, management, leasing, maintenance and disposition of
such REO Property, including:

               (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 may result in the imposition of a lien thereon;

             (iii) any ground rents in respect of such REO Property, if
          applicable; and

              (iv) all other costs and expenses necessary to maintain, lease,
          sell, protect, manage, operate and restore such REO Property.

To the extent that amounts on deposit in the REO Account with respect to any
REO Property are insufficient for the purposes contemplated by the preceding
sentence with respect to such REO Property, the Master Servicer shall, at the
direction of the Special Servicer in accordance with Section 3.03(c), make a
Servicing Advance of such amounts as are necessary for such purposes unless
the Master Servicer determines, in its reasonable judgment, that such advances
would, if made, be Nonrecoverable Servicing Advances; provided, however, that
the Master Servicer may in its sole discretion make any such Servicing Advance
without regard to recoverability if it is a necessary fee or expense incurred
in connection with the defense or prosecution of legal proceedings.

          (c) The Special Servicer may contract with any Independent
Contractor for the operation and management of any REO Property; provided
that:

              (i) the terms and conditions of any such contract may not be
          inconsistent herewith and shall reflect an agreement reached at
          arm's length;

             (ii) the fees of such Independent Contractor (which shall be
          expenses of the Trust) shall be reasonable and customary in light of
          the nature and locality of such REO Property;

            (iii) any such contract shall require, or shall be administered
          to require, that the Independent Contractor, in a timely manner, (A)
          pay all costs and expenses incurred in connection with the operation
          and management of such REO Property, including those listed in

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          Section 3.17(b) above, and (B) remit all related revenues collected
          (net of its fees and such costs and expenses) to the Special
          Servicer upon receipt;

              (iv) none of the provisions of this Section 3.17(c) 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 hereunder with respect to the operation
          and management of any such REO Property; and

               (v) 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 it related to its duties and
obligations hereunder for indemnification of the Special Servicer by such
Independent Contractor, and nothing in this Agreement shall be deemed to limit
or modify such indemnification. To the extent the costs of any contract with
any Independent Contractor for the operation and management of any REO
Property are greater that the revenues available from such property, such
excess costs shall be covered by, and be reimbursable to, the Master Servicer
as a Servicing Advance.

          SECTION 3.18. Fair Value Purchase Option; Sale of REO Properties.

          (a) Each of the Master Servicer, the Special Servicer or the Trustee
may sell or purchase, or permit the sale or purchase of, a Trust Mortgage Loan
or REO Property only on the terms and subject to the conditions set forth in
this Section 3.18 or as otherwise expressly provided in or contemplated by
Section 2.03(b), Section 3.31, Section 9.01, the related Mortgage Loan
Documents and/or any related intercreditor, co-lender and/or similar
agreement(s).

          (b) If any Trust Mortgage Loan becomes a Defaulted Trust Mortgage
Loan, then the Special Servicer shall promptly so notify in writing the
Trustee, the Master Servicer and the Series 2003-C4 Directing
Certificateholder and, in respect of the Mayfair Mall Trust Mortgage Loan
only, each Mayfair Mall Non-Trust Companion Loan Holder (or its designee) and
the Class MM Directing Certificateholder. The Series 2003-C4 Directing
Certificateholder may, at its option, purchase any Defaulted Trust Mortgage
Loan out of the Trust Fund at a cash price equal to the applicable Purchase
Price. The Series 2003-C4 Directing Certificateholder may, after receipt of
the notice described in the first sentence of this Section 3.18(b), assign its
option under the preceding sentence to any party; provided that the Series
2003-C4 Directing Certificateholder, in connection therewith, shall deliver to
the Trustee and the Special Servicer a copy of the related written assignment
executed by the Series 2003-C4 Directing Certificateholder. The applicable
Purchase Price for any Defaulted Trust Mortgage Loan purchased under this
Section 3.18(b) shall be deposited into the Collection Account, and the
Trustee, upon receipt of an Officer's Certificate from the Master Servicer to
the effect that such deposit has been made, shall release or cause to be
released to the Person effecting such purchase (or to its designee) the
related Mortgage File, and shall execute and deliver such instruments of
transfer or assignment, in each case without recourse, as shall be provided to
it and are reasonably necessary to vest in the Person effecting such purchase
(or its designee) ownership of such Trust Mortgage Loan. In connection with
any such purchase, the Special Servicer shall deliver the related Servicing
File to the Person effecting such purchase (or to its designee).

                                    -163-
<PAGE>

          If not exercised sooner, such purchase option with respect to any
Defaulted Trust Mortgage Loan will automatically terminate upon (i) the
related Borrower's cure of all defaults on the Defaulted Trust Mortgage Loan,
(ii) the acquisition on behalf of the Trust of title to the related Mortgaged
Property by foreclosure or deed in lieu of foreclosure, (iii) the
modification, waiver or pay-off (full or discounted) of the Defaulted Trust
Mortgage Loan in connection with a workout or (iv) in the case of the Mayfair
Mall Trust Mortgage Loan (if applicable), the purchase thereof pursuant to or
as contemplated by Section 3.31.

          The applicable Purchase Price for any Defaulted Trust Mortgage Loan
purchased under this Section 3.18(b) shall, (i) pending determination of the
Fair Value thereof pursuant to the succeeding sentence, be the Purchase Price
calculated in accordance with the definition of Purchase Price, and (ii)
following determination of the Fair Value pursuant to the succeeding sentence,
be the Fair Value. The Special Servicer shall promptly obtain an Appraisal
(unless it has an Appraisal that is less than 12 months old and has no actual
knowledge of, or notice of, any event which in the Special Servicer's judgment
would materially affect the validity of such Appraisal), and shall, within 60
days following the date on which a Trust Mortgage Loan becomes a Defaulted
Trust Mortgage Loan, determine the fair value thereof in accordance with the
Servicing Standard (the "Fair Value"). In determining the Fair Value of any
Defaulted Trust Mortgage Loan the Special Servicer shall take into account,
among other factors, the period and amount of the delinquency on such Trust
Mortgage Loan, the occupancy level and physical condition of the related
Mortgaged Property, the state of the local economy in the area where the
Mortgaged Property is located, the time and expense associated with a
purchaser's foreclosing on the related Mortgaged Property, and the expected
recoveries from such Defaulted Trust Mortgage Loan if the Special Servicer
were to pursue a workout or foreclosure strategy instead of selling such
Defaulted Trust Mortgage Loan pursuant to the subject purchase option. In
addition, the Special Servicer shall refer to all relevant information
contained in the Servicing File, including the most recent Appraisal obtained
or conducted with respect to the related Mortgaged Property and available
objective third-party information obtained from generally available sources,
as well as information obtained from vendors providing real estate services to
the Special Servicer, concerning the market for distressed real estate loans
and the real estate market for the subject property type in the area where the
related Mortgaged Property is located based on the Appraisal. The Special
Servicer must give prompt written notice of its Fair Value determination to
the Trustee, the Master Servicer and the Series 2003-C4 Directing
Certificateholder.

          The Special Servicer shall be required to change from time to time
thereafter its determination of the Fair Value of a Defaulted Trust Mortgage
Loan based upon changed circumstances, new information or otherwise, in
accordance with the Servicing Standard. If the most recent Fair Value
calculation was made more than 90 days prior to the exercise date of a
purchase option (under this Section 3.18(b) or Section 3.18(c)), then the
Special Servicer shall confirm or revise the Fair Value determination, which
Fair Value may be higher or lower.

          If the Mayfair Mall Trust Mortgage Loan becomes a Defaulted Trust
Mortgage Loan, the Special Servicer shall deliver to each holder of a Mayfair
Mall Non-Trust Companion Loan (or the designee of that holder) copies of all
written and/or electronic information used by the Special Servicer to
establish the Fair Value of the Mayfair Mall Trust Mortgage Loan, together
with, at the expense of such holder, such other information as such holder (or
its designee) may reasonably request to perform a similar valuation of the
subject Mayfair Mall Non-Trust Companion Loan.

                                    -164-
<PAGE>

          In the event that the Special Servicer or any affiliate of the
Special Servicer exercises the purchase option (under this Section 3.18(b) or
Section 3.18(c)) with respect to any Defaulted Trust Mortgage Loan, including
as the Series 2003-C4 Directing Certificateholder or as the assignee thereof,
then the Master Servicer or, if the Master Servicer is also the Special
Servicer or an affiliate of the Special Servicer, the Trustee shall determine
whether the Special Servicer's determination of Fair Value for a Defaulted
Trust Mortgage Loan is no less than the amount that the Master Servicer or the
Trustee, as applicable, considers to be the Fair Value of such Defaulted Trust
Mortgage Loan. In such event, the Special Servicer shall promptly deliver to
the Master Servicer or the Trustee, as applicable, in accordance with the
foregoing sentence, the most recent related Appraisal then in the Special
Servicer's possession, together with such other third-party reports and other
information then in the Special Servicer's possession that is relevant to the
confirmation of the Special Servicer's determination of Fair Value, including
information regarding any change in circumstance regarding the Defaulted Trust
Mortgage Loan known to the Special Servicer that has occurred subsequent to,
and that would materially affect the value of the related Mortgaged Property
reflected in, the most recent related Appraisal. Notwithstanding the
foregoing, and if the Special Servicer has not already done so, the Master
Servicer or the Trustee, as the case may be, may (at its option) designate an
Independent Qualified Appraiser, selected with reasonable care by the Master
Servicer or the Trustee, as the case may be, to confirm that the Special
Servicer's determination of Fair Value is consistent with or greater than what
the Independent Qualified Appraiser considers to be the Fair Value of such
Defaulted Trust Mortgage Loan. In that event, the Master Servicer or Trustee,
as applicable, will be entitled to rely upon such Independent Qualified
Appraiser's determination. The Master Servicer or Trustee, as applicable,
shall be entitled to a fee of $1,500 in connection with each such Fair Value
determination. The costs of all third party opinions of value and any
Appraisals and inspection reports incurred by the Master Servicer or Trustee,
as the case may be, as contemplated by this paragraph shall be advanced by the
Master Servicer or Trustee, as the case may be, and will constitute, and be
reimbursable as, a Servicing Advance.

          Unless and until the purchase option granted hereunder with respect
to a Defaulted Trust Mortgage Loan is exercised, the Special Servicer will be
required to pursue such other resolution strategies available hereunder,
including workout and foreclosure, consistent with the Servicing Standard, but
the Special Servicer will not be permitted to sell the Defaulted Trust
Mortgage Loan other than pursuant to the exercise of such purchase option or
as otherwise permitted under Section 3.18(a).

          (c) If the Series 2003-C4 Directing Certificateholder or an assignee
thereof has not purchased any Defaulted Trust Mortgage Loan as provided in
Section 3.18(b) within 15 days of the Series 2003-C4 Directing
Certificateholder's having received notice that the subject Trust Mortgage
Loan has become a Defaulted Trust Mortgage Loan pursuant to Section 3.18(b),
then the Trustee shall within five days of the end of such 15-day period send
notice to the Special Servicer that such Trust Mortgage Loan was not purchased
by the Series 2003-C4 Directing Certificateholder or its assignee, and the
Special Servicer may, at its option, within 15 days after receipt of such
notice, purchase (or designate an Affiliate thereof to purchase) such Trust
Mortgage Loan out of the Trust Fund at a cash price equal to the Purchase
Price. In addition, if the Series 2003-C4 Directing Certificateholder or an
assignee thereof has not purchased any Defaulted Trust Mortgage Loan provided
in Section 3.18(b) within 15 days of the Series 2003-C4 Directing
Certificateholder's having received notice of the calculation of Fair Value
pursuant to Section 3.18(b), then the Trustee shall within five days of the
end of such 15-day period send notice to the Special Servicer that such Trust
Mortgage Loan was not purchased by the Series 2003-C4 Directing
Certificateholder or its assignee, and the Special Servicer may, at its
option, within 15 days

                                    -165-
<PAGE>

after receipt of such notice, purchase (or designate an Affiliate
thereof to purchase) such Trust Mortgage Loan out of the Trust Fund at a cash
price equal to the Fair Value. The cash price paid for any such Trust Mortgage
Loan purchased under this Section 3.18(c) shall be deposited into the
Collection Account, and the Trustee, upon receipt of an Officer's Certificate
from the Master Servicer to the effect that such deposit has been made, shall
release or cause to be released to the Special Servicer (or the designated
Affiliate thereof), as applicable, the related Mortgage File, and shall
execute and deliver such instruments of transfer or assignment, in each case
without recourse, as shall be provided to it and are reasonably necessary to
vest in the Special Servicer (or the designated Affiliate thereof), as
applicable, the ownership of such Trust Mortgage Loan.

          (d) The Special Servicer shall use reasonable efforts to solicit
bids for each REO Property in such manner as will be reasonably likely to
realize a fair price as soon as reasonably possible and, in any event, within
the time period provided for by Section 3.16(a). Such solicitation shall be
made in a commercially reasonable manner. The Special Servicer shall accept
the highest cash bid received from any Person for such REO Property in an
amount at least equal to the Purchase Price therefor; provided, however, that
in the absence of any such bid, the Special Servicer shall accept the highest
cash bid received from any Person that is determined by the Special Servicer
to be a fair price for such REO Property. If the Special Servicer reasonably
believes that it will be unable to realize a fair price for any REO Property
within the time constraints imposed by Section 3.16(a), then the Special
Servicer shall dispose of such REO Property upon such terms and conditions as
the Special Servicer shall deem necessary and desirable to maximize the
recovery thereon under the circumstances and, in connection therewith, shall
accept the highest outstanding cash bid, regardless of from whom received. If
the Special Servicer determines with respect to any REO Property that the
offers being made with respect thereto are not in the best interests of the
Certificateholders and, if the subject REO Property relates to a Mortgage Loan
Combination, the related Non-Trust Companion Loan Holder(s), as a collective
whole, and that the end of the period referred to in Section 3.16(a) with
respect to such REO Property is approaching, the Special Servicer shall seek
an extension of such period in the manner described in Section 3.16(a);
provided, however, that the Special Servicer shall use its best efforts,
consistent with the Servicing Standard, to sell any REO Property prior to
three years prior to the Rated Final Distribution Date.

          The Special Servicer shall give the Trustee, the Master Servicer and
any affected Non-Trust Companion Loan Holder(s) not less than three Business
Days' prior written notice of its intention to sell any REO Property. No
Interested Person shall be obligated to submit a bid to purchase any REO
Property, and notwithstanding anything to the contrary herein, neither the
Trustee, in its individual capacity, nor any of its Affiliates may bid for or
purchase any REO Property pursuant hereto.

          (e) Whether any cash bid constitutes a fair price for any REO
Property for purposes of Section 3.18(d), shall be determined by the Special
Servicer, if the highest bidder is a Person other than the Special Servicer or
an Affiliate thereof, and by the Master Servicer, if the highest bidder is the
Special Servicer or an Affiliate thereof. In determining whether any bid
received from the Special Servicer or an Affiliate thereof represents a fair
price for any REO Property, the Special Servicer and the Master Servicer shall
obtain and may conclusively rely on the opinion of an Appraiser retained at
the expense of the Trust Fund (and/or any affected Non-Trust Companion Loan
Holder(s)) by (i) the Master Servicer, if the highest bidder is the Special
Servicer or an Affiliate thereof or (ii) the Special Servicer, in any other
case. In determining whether any bid constitutes a fair price for any REO
Property, such Appraiser shall be instructed to take into account, as
applicable, among other factors, the occupancy

                                    -166-
<PAGE>

level and physical condition of the REO Property, the state of the
local economy and the obligation to dispose of any REO Property within the
time period specified in Section 3.16(a). The Purchase Price for any REO
Property shall in all cases be deemed a fair price.

          Subject to subsections (a) through (d) above, the Special Servicer
shall act on behalf of the Trustee in negotiating and taking any other action
necessary or appropriate in connection with the sale of any REO Property, and
the collection of all amounts payable in connection therewith. Any sale of any
REO Property shall be final and without recourse to the Trustee, the Trust
Fund or any affected Non-Trust Companion Loan Holder(s), except, in the case
of the Trust Fund, as shall be customary in deeds of real property, and if
such sale is consummated in accordance with the terms of this Agreement,
neither the Special Servicer nor the Master Servicer shall have any liability
to any Certificateholder with respect to the purchase price therefor accepted
by the Special Servicer or the Master Servicer.

          (f) Any sale of any Defaulted Trust Mortgage Loan or REO Property
shall be for cash only.

          (g) The parties hereto acknowledge the purchase option of each
B-Note Non-Trust Companion Loan Holder with respect to the related A-Note
Mortgage Loan provided for in the related A/B Intercreditor Agreement. The
purchase price paid by any B-Note Non-Trust Companion Loan Holder for the
related A-Note Mortgage Loan in accordance with such purchase option shall be
deposited into the Collection Account, and the Trustee, upon receipt of
written notice from the Master Servicer to the effect that such deposit has
been made, shall execute and deliver such instruments of transfer or
assignment, in each case without recourse, as shall be provided to it and are
reasonably necessary to vest ownership of such Mortgage Loan in the related
B-Note Non-Trust Companion Loan Holder.

          (h) Any purchase option provided for with respect to a Defaulted
Trust Mortgage Loan pursuant to this Section 3.18 shall, in the case of the
Mayfair Mall Trust Mortgage Loan, be subject to the rights of the Class MM
Directing Certificateholder, the Series 2003-C4 Directing Certificateholder or
any Mayfair Mall Non-Trust Companion Loan Holder, as applicable, to purchase
the Mayfair Mall Trust Mortgage Loan in accordance with or as contemplated by
Section 3.31.

          (i) If pursuant to any purchase option provided for in the related
intercreditor, co-lender or similar agreement, a Mezzanine Loan Holder
purchases any Trust Mortgage Loan, then the purchase price paid by such
Mezzanine Loan Holder for such Trust Mortgage Loan in accordance with such
purchase option shall be deposited into the Collection Account, and the
Trustee, upon receipt of written notice from the Master Servicer to the effect
that such deposit has been made, shall execute and deliver such instruments of
transfer or assignment, in each case without recourse, as shall be provided to
it and are reasonably necessary to vest ownership of such Trust Mortgage Loan
in such Mezzanine Loan Holder.

          SECTION 3.19. Additional Obligations of the Master Servicer and
                        Special Servicer; Inspections; Appraisals.

          (a) The Master Servicer (or, with respect to each Specially Serviced
Trust Mortgage Loan and REO Property and each Trust Mortgage Loan described in
Section 3.19(c) below, the Special Servicer) shall physically inspect or cause
to be physically inspected (which inspection may be conducted by an
independent third party contractor), at its own expense, each Mortgaged
Property at

                                    -167-
<PAGE>

such times and in such manner as are consistent with the Servicing
Standard, but in any event shall inspect each Mortgaged Property (A) with a
Stated Principal Balance equal to or greater than $2,500,000 at least once
every 12 months and (B) with a Stated Principal Balance of less than
$2,500,000 at least once every 24 months, in each case commencing in 2004 (or
at such lesser frequency as each Rating Agency shall have confirmed in writing
to the Master Servicer, will not result a downgrade, qualification or
withdrawal of the then-current ratings assigned to any Class of the
Certificates) and (C) if the Trust Mortgage Loan becomes a Specially Serviced
Trust Mortgage Loan, as soon as practicable and thereafter at least once every
12 months for so long as such condition exists. The Master Servicer or Special
Servicer, as applicable, shall send each inspection report (i) to S&P and/or
Moody's, upon request, (ii) to the Series 2003-C4 Directing Certificateholder
and any Requesting Subordinate Certificateholder (at the expense of such
Requesting Subordinate Certificateholder), (iii) if the subject Mortgaged
Property relates to a Mortgage Loan Combination, to the related Non-Trust
Companion Loan Holder(s) and (iv) to the Trustee upon request. At the request
of any Certificateholder or Certificate Owner, the Trustee shall request a
copy of the relevant inspection report(s) and deliver the same to such
Certificateholder or Certificate Owner, as the case may be.

          (b) With respect to each Mortgage Loan that allows the Special
Servicer (on behalf of the Trust Fund and any affected Non-Trust Companion
Loan Holder(s)) to terminate, or cause the related Borrower to terminate, the
related Manager upon the occurrence of certain events specified in the related
Mortgage Loan Documents, the Special Servicer may enforce the Trustee's rights
with respect to the Manager under the related Mortgage Loan Documents and
Management Agreement; provided that, if such right accrues under the related
Mortgage Loan Documents or Management Agreement only because of the occurrence
of the related Anticipated Repayment Date, if any, the Special Servicer may in
its sole discretion, in accordance with the Servicing Standard, waive such
right with respect to such date. If the Special Servicer is entitled to
terminate the Manager, the Special Servicer shall promptly give notice to the
Series 2003-C4 Directing Certificateholder, to the Class MM Directing
Certificateholder and each Mayfair Mall Non-Trust Companion Loan Holder (if
the Mayfair Mall Mortgaged Property is affected) and to each Rating Agency. In
accordance with the Servicing Standard, the Special Servicer shall cause the
Borrower to terminate the Manager, and to recommend a Successor Manager
(meeting the requirements set forth below) only if the Special Servicer
determines in its reasonable discretion that such termination is not likely to
result in successful litigation against the Trust Fund and any affected
Non-Trust Companion Loan Holder(s) by such Manager or the related Borrower, or
create a defense to the enforcement of remedies under the subject Mortgage
Loan.

          The Special Servicer shall effect such termination only if the
Special Servicer has, in the case of any Specially Serviced Trust Mortgage
Loan that is a Significant Trust Mortgage Loan, received a written
confirmation from each of the Rating Agencies, that the appointment of such
Successor Manager would not cause such Rating Agency to withdraw, downgrade or
qualify any of the then-current ratings on the Certificates. If a Manager is
otherwise terminated or resigns under the related Mortgage Loan Documents or
Management Agreement and the related Borrower does not appoint a Successor
Manager, the Special Servicer shall use its best efforts to retain a Successor
Manager (or the recommended Successor Manager, if any) on terms substantially
similar to the Management Agreement or, failing that, on terms as favorable to
the Trust Fund as can reasonably be obtained by the Special Servicer. For the
purposes of this Section 3.19(b), a "Successor Manager" shall be a
professional management corporation or business entity reasonably acceptable
to the Special Servicer which (i) manages, and is experienced in managing,
other comparable commercial and/or multifamily properties, (ii) in the case of
a Significant Trust Mortgage Loan, will not result in a

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downgrade, qualification or withdrawal of the then-current ratings
assigned to the Certificates by each Rating Agency, as confirmed by such
Rating Agency in writing (if required pursuant to the first sentence of this
paragraph), and (iii) otherwise satisfies any criteria set forth in the
related Mortgage Loan Documents.

          (c) The Special Servicer shall be required to obtain any Appraisal
required in connection with an Appraisal Reduction Event or perform an
internal valuation within 60 days after the occurrence of such Appraisal
Reduction Event, the cost of which shall be paid by the Master Servicer as a
Servicing Advance; provided that in no event shall the period to receive such
Appraisal or perform such internal valuation exceed 120 days from the
occurrence of the event that, with the passage of time, would become such
Appraisal Reduction Event. Upon receipt, the Special Servicer shall send a
copy of such Appraisal or internal valuation to the Trustee, the Master
Servicer, any affected Non-Trust Companion Loan Holder(s), the
Certificateholders (or, if the Controlling Class of Certificates is held in
book-entry form, the Certificate Owners) of the Controlling Class and any
Requesting Subordinate Certificateholder (at the expense of such Requesting
Subordinate Certificateholder); provided, however, that as to each such
Appraisal or internal valuation, if beneficial ownership of the Controlling
Class resides in more than one Certificateholder or Certificate Owner, as the
case may be, the Special Servicer shall be responsible only for the expense of
providing the first such copy thereof and shall be entitled to reimbursement
from the Trust Fund for the expense of any additional copies so provided. If
neither a required Appraisal is received, nor an internal valuation is
completed, by such date, the Appraisal Reduction Amount for such Trust
Mortgage Loan shall be conclusively established to be 25% of the Stated
Principal Balance of such Trust Mortgage Loan as of the date of the related
Appraisal Reduction Event; provided that the obligation of the Special
Servicer to obtain such Appraisal or complete such internal valuation shall
continue until such Appraisal is obtained or such internal valuation is
completed. On the first Determination Date occurring on or after the delivery
of such Appraisal or the completion of such internal valuation, and on each
Determination Date thereafter, the Special Servicer shall calculate and report
to the Master Servicer and the Trustee, the Appraisal Reduction Amount taking
into account such Appraisal or internal valuation. The Master Servicer may
conclusively rely on any report by the Special Servicer of an Appraisal
Reduction Amount. Notwithstanding the foregoing, the Special Servicer will not
be required to obtain an Appraisal or perform an internal valuation, as the
case may be, under this Section 3.19(c) with respect to a Trust Mortgage Loan
which is the subject of an Appraisal Reduction Event if the Special Servicer
has obtained an Appraisal with respect to the related Mortgaged Property
within the 12-month period immediately prior to the occurrence of such
Appraisal Reduction Event, unless the Special Servicer, in the exercise of its
reasonable judgment, has reason to believe there has been a material adverse
change in the value of the related Mortgaged Property. Instead, the Special
Servicer may use such prior Appraisal in calculating any Appraisal Reduction
Amount with respect to such Trust Mortgage Loan.

          (d) With respect to each Trust Mortgage Loan as to which an
Appraisal Reduction Event has occurred (unless such Trust Mortgage Loan has
become a Corrected Trust Mortgage Loan and has remained current for twelve
consecutive Monthly Payments for such purposes, taking into account any
amendment or modification of such Trust Mortgage Loan, and no other Servicing
Transfer Event or Appraisal Reduction Event has occurred and is continuing
with respect thereto), the Special Servicer shall, within 30 days of each
annual anniversary of such Appraisal Reduction Event, order an Appraisal
(which may be an update of a prior Appraisal), or with respect to any Trust
Mortgage Loan with an outstanding principal balance less than $2,000,000,
perform an internal valuation or obtain an Appraisal (which may be an update
of a prior Appraisal), the cost of which shall be paid by the Master Servicer
as

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a Servicing Advance. Upon receipt, the Special Servicer shall send a copy
of such Appraisal to the Trustee, the Master Servicer, each affected Non-Trust
Companion Loan Holder (if any), the Certificateholders (or, if the Controlling
Class of Certificates is held in book-entry form, the Certificate Owners) of
the Controlling Class and any Requesting Subordinate Certificateholder (at the
expense of such Requesting Subordinate Certificateholder); provided, however,
that as to each such Appraisal, if beneficial ownership of the Controlling
Class resides in more than one Certificateholder or Certificate Owner, as the
case may be, the Special Servicer shall be responsible only for the expense of
providing the first such copy thereof and shall be entitled to reimbursement
from the Trust Fund for the expense of any additional copies so provided. On
the first Determination Date occurring on or after the delivery of such
Appraisal or the completion of such internal valuation, and on each
Determination Date thereafter, the Special Servicer shall calculate and report
to the Master Servicer and the Trustee, the Appraisal Reduction Amount taking
into account such Appraisal or internal valuation. Such Appraisal or internal
valuation or calculation of the Appraisal Reduction described in the preceding
sentence, as the case may be, shall be used to determine monthly the amount of
the Appraisal Reduction Amount with respect to the subject Trust Mortgage Loan
for each Distribution Date until the next Appraisal is required pursuant to
this Section 3.19(d), and such redetermined Appraisal Reduction Amount shall
replace the prior Appraisal Reduction Amount with respect to such Trust
Mortgage Loan.

          With respect to each Trust Mortgage Loan as to which an Appraisal
Reduction Event has occurred and which has become a Corrected Trust Mortgage
Loan and has remained current for twelve consecutive Monthly Payments, taking
into account any amendment or modification of such Trust Mortgage Loan, and
with respect to which no other Servicing Transfer Event or Appraisal Reduction
Event has occurred and is continuing, the Special Servicer may within 30 days
after the date of such twelfth Monthly Payment, order an Appraisal (which may
be an update of a prior Appraisal), or with respect to any Trust Mortgage Loan
with an outstanding principal balance less than $2,000,000, perform an
internal valuation or obtain an Appraisal (which may be an update of a prior
Appraisal), the cost of which shall be paid by the Master Servicer as a
Servicing Advance. Based upon such Appraisal or internal valuation, the
Special Servicer shall redetermine and report to the Trustee and the Master
Servicer the amount of the Appraisal Reduction with respect to such Trust
Mortgage Loan and such redetermined Appraisal Reduction shall replace the
prior Appraisal Reduction Amount with respect to such Trust Mortgage Loan.

          SECTION 3.20. Modifications, Waivers, Amendments and Consents.

          (a) Subject to the provisions of this Section 3.20, Section 3.21 and
Section 3.31 (and, in the case of any Mortgage Loan Combination, subject to
the terms of the related intercreditor, co-lender or similar agreement), the
Master Servicer and the Special Servicer may, on behalf of the Trustee, agree
to any modification, waiver or amendment of any term of any Mortgage Loan
without the consent of the Trustee or any Certificateholder.

               (i) For any Performing Mortgage Loan, and subject to the rights
          of the Special Servicer set forth below, the Master Servicer shall
          be responsible subject to the other requirements of this Agreement
          with respect thereto, for any request by a Borrower for the consent
          of the mortgagee or a modification, waiver or amendment of any term
          thereof; provided that such consent or modification, waiver or
          amendment would not (except as provided in Section 3.02) affect the
          amount or timing of any scheduled payments of principal, interest or
          other amounts payable under such Mortgage Loan, affect the
          obligation of the related Borrower

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<PAGE>

          to pay a Yield Maintenance Charge or permit a Principal
          Prepayment by the Borrower during a prepayment lockout period,
          result in the release of the related Borrower from any material term
          thereunder, waive any rights thereunder with respect to any
          guarantor thereof, relate to the release or substitution of any
          material collateral for such Mortgage Loan or, in the reasonable
          judgment of the Master Servicer, materially impair the security for
          such Mortgage Loan or reduce the likelihood of timely payments of
          amounts due thereon; and provided, further, that this Section
          3.20(a)(i) does not apply to waivers contemplated by Section 3.07 or
          3.08. To the extent consistent with the foregoing, the Master
          Servicer shall be responsible for the following:

               (A)  approving routine leasing activity with respect to leases
                    for less than the lesser of (a) 30,000 square feet and (b)
                    20% of the related Mortgaged Property;

               (B)  approving annual budgets for the related Mortgaged
                    Property; provided that no such budget (1) relates to a
                    fiscal year in which an Anticipated Repayment Date occurs,
                    (2) provides for the payment of operating expenses in an
                    amount equal to more than 110% of the amounts budgeted
                    therefor for the prior year or (3) provides for the
                    payment of any material expenses to any affiliate of the
                    Borrower (other than the payment of a management fee to
                    any property manager if such management fee is no more
                    than the management fee in effect on the Cut-off Date);

               (C)  waiving any provision of a Mortgage Loan requiring the
                    receipt of a rating confirmation if such Mortgage Loan is
                    not a Significant Trust Mortgage Loan and the related
                    provision of such Mortgage Loan does not relate to a
                    "due-on-sale" or "due-on-encumbrance" clause or defeasance
                    (which shall be subject to the terms of Section 3.08
                    hereof);

               (D)  subject to other restrictions herein regarding Principal
                    Prepayments, waiving any provision of a Mortgage Loan
                    requiring a specified number of days notice prior to a
                    Principal Prepayment;

               (E)  releases of non-material parcels of a Mortgaged Property
                    (provided that any such releases are releases as to which
                    the related Mortgage Loan Documents expressly require the
                    mortgagee thereunder to make such releases upon the
                    satisfaction of certain conditions which shall be made as
                    required by the Mortgage Loan Documents); and

               (F)  grants of easements or rights of way that do not
                    materially affect the use or value of a Mortgaged Property
                    or the related Borrower's ability to make any payment with
                    respect to the related Mortgage Loan;

        provided, however, that if in the reasonable judgment of the Master
        Servicer any request by a Borrower for consent of the Mortgagee or any
        modification, waiver or amendment in connection with an assumption
        transaction contemplated by Section 3.08 is not included within the
        scope of this clause (i), the Master Servicer shall process the
        Borrower's request and submit such request for approval by the Special
        Servicer in connection with (and subject to the same time constraints
        for) its approval of the subject assumption transaction pursuant to
        Section 3.08; and provided,

                                    -171-
<PAGE>

        further, that if in the reasonable judgment of the Master Servicer
        any request by a Borrower for consent of the Mortgagee or any
        modification, waiver or amendment is not included within the
        scope of this clause (i) and is not related to an assumption
        transaction, the Special Servicer shall be responsible for
        such request in accordance with clause (ii) below.

               (ii) The Special Servicer shall be responsible for any request
        by a Borrower for the consent of the mortgagee and any modification,
        waiver or amendment of any term of any Mortgage Loan for which the
        Master Servicer is not responsible, as provided above, or if such
        consent, request, modification, waiver or amendment relates to a
        Mortgage Loan that is on the most recent CMSA Servicer Watch List,
        has a Debt Service Coverage Ratio (based on the most recently
        received financial statements and calculated on a trailing twelve
        month basis) less than the greater of 1.1x or 20% less than the Debt
        Service Coverage Ratio as of the Cut-off Date or with respect to
        which an event of default has occurred in the preceding 12 months.

          (b) All modifications, waivers or amendments of any Mortgage Loan
shall be (i) in writing and (ii) effected in accordance with the Servicing
Standard.

          (c) Neither the Master Servicer nor, except as provided in Section
3.20(d), the Special Servicer, on behalf of the Trustee (or, in the case of a
Non-Trust Companion Loan, on behalf of the related Non-Trust Companion Loan
Holder), shall agree or consent to, any modification, waiver or amendment of
any term of any Mortgage Loan if such modification, waiver or amendment would:

               (i) affect the amount or timing of any related payment of
          principal, interest or other amount (including Yield Maintenance
          Charges, but excluding Penalty Charges and other amounts payable as
          additional servicing compensation) payable thereunder;

              (ii) affect the obligation of the related Borrower to pay a
          Yield Maintenance Charge or permit a Principal Prepayment during any
          period in which the related Note prohibits Principal Prepayments;

             (iii) except as expressly contemplated by the related Mortgage
          or pursuant to Section 3.09(e), result in a release of the lien of
          the Mortgage on any material portion of the related Mortgaged
          Property without a corresponding Principal Prepayment in an amount
          not less than the fair market value (as determined by an appraisal
          by an Appraiser delivered at the expense of the related Borrower and
          upon which the Master Servicer and the Special Servicer, as
          applicable, may conclusively rely) of the property to be released;
          or

               (iv) in the judgment of the Master Servicer or Special
          Servicer, as applicable, otherwise materially impair the security
          for such Mortgage Loan or reduce the likelihood of timely payment of
          amounts due thereon.

          (d) Notwithstanding Sections 3.20(a)(i), 3.20(c)(i) and 3.20(c)(ii),
but subject to Sections 3.20(e) and 3.20(f), the Special Servicer may (i)
reduce the amounts owing under any Specially Serviced Mortgage Loan by
forgiving principal, accrued interest and/or any Yield Maintenance Charge,
(ii) reduce the amount of the Monthly 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 Note or
Mortgage relating to a Specially Serviced Mortgage Loan, (iv) extend the
maturity of any Specially Serviced Mortgage Loan, (v) waive Excess Interest if
such waiver conforms to the

                                    -172-
<PAGE>

Servicing Standard and/or (vi) accept a Principal Prepayment during
any Lockout Period; provided that (A) the related Borrower is in default with
respect to the Specially Serviced Mortgage Loan or, in the judgment of the
Special Servicer, such default is reasonably foreseeable and (B) in the sole
good faith judgment of the Special Servicer and in accordance with the
Servicing Standard, such modification would increase the recovery on the
subject Mortgage Loan to Certificateholders (or, in the case of a Mortgage
Loan Combination, Certificateholders and the related Non-Trust Companion Loan
Holder(s)), as a collective whole, on a present value basis (the relevant
discounting of amounts that will be distributable to Certificateholders or a
Non-Trust Companion Loan Holder to be performed at the related Mortgage Rate).

          The determination of the Special Servicer contemplated by the clause
(B) of the proviso to the prior paragraph of this Section 3.20(d) shall be
evidenced by an Officer's Certificate to such effect delivered to the Trustee
and the Master Servicer and describing in reasonable detail the basis for the
Special Servicer's determination and the considerations of the Special
Servicer forming the basis of such determination (which shall include but
shall not be limited to information, to the extent available, such as related
income and expense statements, rent rolls, occupancy status and property
inspections, and shall include an Appraisal of the related Mortgage Loan or
Mortgaged Property, the cost of which Appraisal shall be advanced by the
Master Servicer as a Servicing Advance).

          (e) Neither the Master Servicer nor the Special Servicer shall
consent to, make or permit any modification, waiver or amendment of any term
of any Mortgage Loan that would cause an Adverse REMIC Event with respect to
any REMIC Pool, an Adverse Grantor Trust Event with respect to any Grantor
Trust Pool or any event similar to the foregoing with respect to any REMIC or
grantor trust that includes a Non-Trust Companion Loan.

          (f) In no event shall the Special Servicer (i) extend the Maturity
Date of a Mortgage Loan beyond a date that is three years prior to the Rated
Final Distribution Date; (ii) extend the Maturity Date of any Mortgage Loan at
an interest rate less than the lower of (A) the interest rate in effect prior
to such extension or (B) the then prevailing interest rate for comparable
loans, as determined by the Special Servicer by reference to available indices
for commercial mortgage lending; (iii) if the Mortgage Loan is secured by a
Ground Lease, extend the Maturity Date of such Mortgage Loan beyond a date
which is 10 years prior to the expiration of the term of such Ground Lease; or
(iv) defer interest due on any Mortgage Loan in excess of 5% of the Stated
Principal Balance (or, in the case of a Non-Trust Companion Loan, the unpaid
principal balance) of such Mortgage Loan; provided that with respect to clause
(iii) above, the Special Servicer gives due consideration to the term of such
Ground Lease prior to any extension beyond a date 20 years prior to the
expiration of the term of such Ground Lease. In addition, any modification,
waiver or amendment of a monetary term of the Mayfair Mall Mortgage Loan
Combination shall be structured so as to affect the Mayfair Mall Trust
Mortgage Loan and the respective Mayfair Mall Non-Trust Companion Loans
proportionately based on the respective amounts due thereunder.

          (g) Neither the Master Servicer nor the Special Servicer may permit
or modify a Mortgage Loan to permit a voluntary Principal Prepayment of a
Mortgage Loan (other than a Specially Serviced Mortgage Loan) on any day other
than its Due Date, unless (i) the Master Servicer or Special Servicer also
collects interest thereon through the Due Date following the date of such
Principal Prepayment, (ii) otherwise permitted under the related Mortgage Loan
Documents, (iii) such Principal Prepayment would not result in a Prepayment
Interest Shortfall or (iv) such Principal Prepayment is

                                    -173-
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accepted by the Master Servicer or the Special Servicer at the request
of or with the consent of the Series 2003-C4 Directing Certificateholder,
or if accepted by the Master Servicer, with the consent of the Special
Servicer.

          (h) The Master Servicer and the Special Servicer may, as a condition
to granting any request by a Borrower for consent, modification, waiver or
indulgence or any other matter or thing, the granting of which is within its
discretion pursuant to the terms of the instruments evidencing or securing the
related Mortgage Loan and is permitted by the terms of this Agreement, require
that such Borrower pay to it (i) as additional servicing compensation, a
reasonable or customary fee for the additional services performed in
connection with such request (provided that such fee does not constitute a
"significant modification" of such Mortgage Loan under Treasury regulations
section 1.860G-2(b)), and (ii) any related costs and expenses incurred by it.
In no event shall the Master Servicer or the Special Servicer be entitled to
payment for such fees or expenses unless such payment is collected from the
related Borrower.

          (i) The Master Servicer and the Special Servicer shall notify each
other, each affected Non-Trust Companion Loan Holder (if any) and the Trustee,
in writing, of any modification, waiver or amendment of any term of any
Mortgage Loan (including fees charged the Borrower) agreed to by the Master
Servicer or the Special Servicer, as the case may be, and the date thereof,
and shall deliver to the Trustee (in the case of the Special Servicer, with a
copy to the Master Servicer) for deposit in the related Mortgage File, an
original counterpart of the agreement relating to such modification, waiver or
amendment, promptly (and in any event within ten Business Days) following the
execution thereof. The Master Servicer or Special Servicer, as applicable,
shall notify the Rating Agencies of any modification, waiver or amendment of
any term of any Mortgage Loan agreed to by the Master Servicer or the Special
Servicer, as the case may be. Copies of each agreement whereby any such
modification, waiver or amendment of any term of any Mortgage Loan is effected
shall be made available for review upon prior request during normal business
hours at the offices of the Master Servicer or Special Servicer, as
applicable, pursuant to Section 3.15 hereof.

          (j) With respect to each Borrower that has been established as a
"bankruptcy-remote entity", neither the Master Servicer nor the Special
Servicer shall consent to (x) the amendment by such Borrower of its
organizational documents or (y) any action that would violate any covenant of
such Borrower relating to its status as a separate or bankruptcy-remote
entity, unless granting such consent is consistent with the Servicing Standard
and, with respect to a Borrower under any Significant Trust Mortgage Loan, the
Master Servicer or the Special Servicer, as applicable, has obtained written
confirmation from each of the Rating Agencies that such amendment or action
would not result in a downgrade or withdrawal of any rating on a Class of
Certificates rated by such Rating Agency.

          SECTION 3.21. Transfer of Servicing Between Master Servicer and
                        Special Servicer; Record Keeping; Series 2003-C4
                        Directing Certificateholder.

          (a) Upon determining that a Servicing Transfer Event has occurred
with respect to any Trust Mortgage Loan, the Master Servicer shall immediately
give notice thereof to the Special Servicer, the Trustee, each Rating Agency,
the Series 2003-C4 Directing Certificateholder and any Requesting Subordinate
Certificateholder (at the expense of such requesting Holder)), shall deliver
copies of the related Mortgage File and Credit File to the Special Servicer
and shall use its reasonable

                                    -174-
<PAGE>

efforts to provide the Special Servicer with all information, documents and
records (including records stored electronically on computer tapes, magnetic
discs and the like) relating to such Trust Mortgage Loan and any related
Non-Trust Companion Loan(s) that are in the possession of the Master Servicer
or available to the Master Servicer without undue burden or expense, and
reasonably requested by the Special Servicer to enable it to assume its
functions hereunder with respect thereto. The Master Servicer shall use its
reasonable efforts to comply with the preceding sentence within five Business
Days of the occurrence of each related Servicing Transfer Event and in any
event shall continue to act as Master Servicer and administrator of such Trust
Mortgage Loan and any related Non-Trust Companion Loan(s) until the Special
Servicer has commenced the servicing of such Trust Mortgage Loan and any
related Non-Trust Companion Loan(s). The Trustee shall deliver to the
Underwriters, the Initial Purchaser, each affected Non-Trust Companion Loan
Holder (if any) and each Holder of a Certificate of the Controlling Class, a
copy of the notice of such Servicing Transfer Event provided by the Master
Servicer to the Special Servicer pursuant to this Section.

          Upon determining that a Specially Serviced Trust Mortgage Loan
(other than an REO Trust Mortgage Loan) has become a Corrected Trust Mortgage
Loan (provided no additional Servicing Transfer Event is foreseeable in the
reasonable judgment of the Special Servicer) and that no other Servicing
Transfer Event is continuing with respect thereto, the Special Servicer shall
immediately give notice thereof and shall return the related Mortgage File and
Credit File to the Master Servicer and, upon giving such notice and returning
such Mortgage File and Credit File to the Master Servicer, the Special
Servicer's obligation to service such Corrected Trust Mortgage Loan and any
related Non-Trust Companion Loan(s) shall terminate and the obligations of the
Master Servicer to service and administer such Corrected Trust Mortgage Loan
and any related Non-Trust Companion Loan(s) shall re-commence.

          Any Non-Trust Companion Loan shall constitute a Specially Serviced
Mortgage Loan for which the Special Servicer is responsible for so long as the
related Trust Mortgage Loan is a Specially Serviced Trust Mortgage Loan.

          (b) In servicing any Specially Serviced Trust Mortgage Loan, the
Special Servicer will provide to the Trustee originals of documents included
within the definition of "Mortgage File" for inclusion in the related Mortgage
File (with a copy of each such original to the Master Servicer), and provide
the Master Servicer with copies of any additional related Trust Mortgage Loan
information including correspondence with the related Borrower.

          (c) No later than the first Business Day following each
Determination Date, by 2:00 p.m. New York City time, the Special Servicer
shall deliver to the Master Servicer a statement, both written and in computer
readable format reasonably acceptable to the Master Servicer and the Special
Servicer (upon which the Master Servicer may conclusively rely) describing, on
a loan-by-loan and property-by-property basis, (1) the amount of all payments,
Insurance and Condemnation Proceeds and Liquidation Proceeds received with
respect to each Specially Serviced Trust Mortgage Loan during the related
Collection Period, and the amount of all REO Revenues, Insurance and
Condemnation Proceeds and Liquidation Proceeds received with respect to each
REO Property during the related Collection Period, (2) the amount, purpose and
date of all Servicing Advances made by the Master Servicer with respect to
each Specially Serviced Mortgage Loan and REO Property during the related
Collection Period, and (3) such additional information or data relating to the
Specially Serviced Trust Mortgage Loan and REO Properties as the Master
Servicer reasonably requests to enable it to perform its

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<PAGE>

responsibilities under this Agreement which is in the Special
Servicer's possession or is reasonably obtainable by the Special Servicer.

          (d) Notwithstanding the provisions of the preceding clause (c), the
Master Servicer shall maintain ongoing payment records with respect to each of
the Specially Serviced Mortgage Loans and REO Properties and shall provide the
Special Servicer with any information in its possession required by the
Special Servicer to perform its duties under this Agreement.

          (e) Subject to the last paragraph of this Section 3.21(e), the
Special Servicer shall not take, or consent to the Master Servicer's taking,
any of the Specially Designated Servicing Actions with respect to any Mortgage
Loan or REO Property unless and until it has notified the Series 2003-C4
Directing Certificateholder and the Series 2003-C4 Directing Certificateholder
has not objected in writing within 10 Business Days of having been notified
thereof and having been provided with all information that the Series 2003-C4
Directing Certificateholder has reasonably requested with respect thereto
promptly following its receipt of the subject notice (it being understood and
agreed that if such written objection has not been received by the Special
Servicer within such 10-Business Day period, then the Series 2003-C4 Directing
Certificateholder shall be deemed to have approved the taking of the subject
Specially Designated Servicing Action); provided that, in the event that the
Special Servicer determines that immediate action is necessary to protect the
interests of the Certificateholders (as a collective whole) (or, in the case
of a Mortgage Loan Combination, to protect the interests of the
Certificateholders and the related Non-Trust Companion Loan Holder(s) (as a
collective whole)), the Special Servicer may take, or consent to the Master
Servicer's taking, a Specially Designated Servicing Action with respect to any
Mortgage Loan or REO Property without waiting for the Series 2003-C4 Directing
Certificateholder's response; and provided, further, that, with respect to any
Specially Designated Servicing Action being performed by the Master Servicer
in connection with an assumption transaction involving any Mortgage Loan in
accordance with Section 3.08, the above-referenced 10-Business Day period
shall not exceed the 10-day period within which the Special Servicer must
object to the Master Servicer's performance of such Specially Designated
Servicing Action pursuant to Section 3.08.

          In addition, subject to the last paragraph of this Section 3.21(e),
the Series 2003-C4 Directing Certificateholder may direct the Special Servicer
to take, or to refrain from taking, any actions with respect to the servicing
and/or administration of a Specially Serviced Mortgage Loan or REO Property as
the Series 2003-C4 Directing Certificateholder may deem advisable or as to
which provision is otherwise made herein. Upon reasonable request, the Special
Servicer shall provide the Series 2003-C4 Directing Certificateholder with any
information in the Special Servicer's possession with respect to such matters,
including its reasons for determining to take a proposed action.

          Notwithstanding the foregoing, no advice, direction or objection of
the Series 2003-C4 Directing Certificateholder shall (i) require or cause the
Special Servicer or the Master Servicer to violate the terms of any Mortgage
Loan or any related intercreditor, co-lender or similar agreement, applicable
law or any provision of this Agreement, including the Special Servicer's and
Master Servicer's obligation to act in accordance with the Servicing Standard
and to maintain the REMIC status of each REMIC Pool, or (ii) result in an
Adverse REMIC Event with respect to any REMIC Pool or an Adverse Grantor Trust
Event with respect to either Grantor Trust Pool, or (iii) expose the Master
Servicer, the Special Servicer, the Depositor, either Mortgage Loan Seller,
the Trust Fund, any Non-Trust Companion Loan Holder, the Trustee or their
Affiliates, officers, directors, employees or agents to

                                    -176-
<PAGE>

any claim, suit or liability, or (iv) materially expand the scope of
the Special Servicer's or the Master Servicer's responsibilities under this
Agreement; and the Special Servicer will neither follow any such advice,
direction or objection if given by the Series 2003-C4 Directing
Certificateholder nor initiate any such actions. Furthermore, the rights and
powers of the Series 2003-C4 Directing Certificateholder under this Section
3.21(e) shall not apply to the Mayfair Mall Mortgage Loan Combination or any
related REO Property; provided that the Series 2003-C4 Directing
Certificateholder may exercise such rights as are granted to it under Section
3.31 with respect to the Mayfair Mall Mortgage Loan Combination or any related
REO Property.

          (f) Upon receiving notice of (i) the filing of a case under any
federal or state bankruptcy, insolvency or similar law or the commencing of
any insolvency, readjustment of debt, marshaling of assets and liabilities or
similar proceedings with respect to a Mortgage Loan or the related Borrower,
(ii) the existence of a material non-payment default or (iii) the request by a
Borrower for the amendment or modification of a Mortgage Loan required to be
handled by the Special Servicer, the Master Servicer shall promptly give
notice thereof, and shall deliver copies of the related Mortgage File and
Credit File, to the Special Servicer and shall use its reasonable efforts to
provide the Special Servicer with all information relating to the Mortgage
Loan and reasonably requested by the Special Servicer to enable it to
negotiate with the related Borrower and prepare for any such proceedings. The
Master Servicer shall use its reasonable efforts to comply with the preceding
sentence within five Business Days of the occurrence of each such event, and
upon receiving such documents and information, the Special Servicer shall use
its reasonable efforts to cause the related Borrower to cure any default
and/or remedy any such event, work out or modify the Mortgage Loan consistent
with the terms of this Agreement, and/or prepare for such proceedings.
Notwithstanding the foregoing, the occurrence of any of the above-referenced
events shall not in and of itself be considered a Servicing Transfer Event.

          SECTION 3.22. Sub-Servicing Agreements.

          (a) The Master Servicer and the Special Servicer may enter into
Sub-Servicing Agreements to provide for the performance by third parties of
any or all of its respective obligations under this Agreement; provided that
the Sub-Servicing Agreement: (i) is consistent with this Agreement (including
the Events of Default in clauses (i)-(viii) of Section 7.01(a)) in all
material respects and requires the Sub-Servicer to comply with all of the
applicable conditions of this Agreement; (ii) provides that if the Master
Servicer or the Special Servicer, as the case may be, shall for any reason no
longer act in such capacity hereunder (including by reason of an Event of
Default), the Trustee or its designee or any other successor to the Master
Servicer or the Special Servicer, as the case may be, may thereupon assume all
of the rights and, except to the extent they arose prior to the date of
assumption, obligations of the Master Servicer or the Special Servicer, as the
case may be, under such agreement or, alternatively, may terminate such
Sub-Servicing Agreement without cause and without payment of any penalty or
termination fee (provided that any Sub-Servicing Agreements entered into by
the Master Servicer with entities identified on Exhibit N by January 1, 2004
can only be terminated for cause); (iii) provides that the Trustee for the
benefit of the Certificateholders shall be a third-party beneficiary under
such Sub-Servicing Agreement, but that (except to the extent the Trustee or
its designee assumes the obligations of the Master Servicer or the Special
Servicer, as the case may be, thereunder as contemplated by the immediately
preceding clause (ii)) none of the Trust Fund, the Trustee, any successor
Master Servicer, Special Servicer or any Certificateholder shall have any
duties under such Sub-Servicing Agreement or any liabilities arising
therefrom; (iv) permits any purchaser of a Trust

                                    -177-
<PAGE>

Mortgage Loan pursuant to this Agreement to terminate such Sub-
Servicing Agreement with respect to such purchased Trust Mortgage Loan at
its option and without penalty; (v) does not permit the Sub-Servicer any
direct rights of indemnification that may be satisfied out of assets of the
Trust Fund except to the extent of its rights of indemnification, if any, as
an agent of the Master Servicer or Special Servicer, as applicable; (vi) does
not permit the Sub-Servicer to foreclose on the related Mortgaged Property or
consent to the modification of any Mortgage Loan without the prior consent of
the Master Servicer or the Special Servicer, as applicable; (vii) provides
that the Sub-Servicer shall act in accordance with the Servicing Standard; and
(viii) provides that in the event of an act or failure to act by the
Sub-Servicer that causes the Master Servicer or Special Servicer, as
applicable, to be in default of its obligations under this Agreement, the
Sub-Servicer shall be in default of its obligations under such Sub-Servicing
Agreement. Any successor Master Servicer or Special Servicer hereunder, upon
becoming successor Master Servicer or Special Servicer, as applicable, shall
have the right to be assigned and shall have the right to assume any
Sub-Servicing Agreements from the predecessor Master Servicer or Special
Servicer, as applicable.

          In addition, each Sub-Servicing Agreement entered into by the Master
Servicer may provide that the obligations of the Sub-Servicer thereunder shall
terminate with respect to any Mortgage Loan serviced thereunder at the time
such Mortgage Loan becomes a Specially Serviced Mortgage Loan. The Master
Servicer and the Special Servicer, as applicable, shall deliver to the Trustee
copies of all Sub-Servicing Agreements, and any amendments thereto and
modifications thereof, entered into by it promptly upon its execution and
delivery of such documents. For purposes of this Agreement, the Master
Servicer shall be deemed to have received any payment when a Sub-Servicer
retained by it receives such payment. The Master Servicer shall notify the
Special Servicer, the Trustee and the Depositor in writing promptly of the
appointment by it of any Sub-Servicer. The Special Servicer shall notify the
Master Servicer, the Trustee, the Depositor and any affected Non-Trust
Companion Loan Holder(s) in writing promptly of the appointment by it of any
Sub-Servicer.

          (b) Each Sub-Servicer shall be authorized to transact business in
the state or states in which the related Mortgaged Properties it is to service
are situated, if and to the extent required by applicable law to ensure the
enforceability of the Mortgage Loans to be serviced by such Sub-Servicer.

          (c) As part of its servicing activities hereunder, the Master
Servicer or the Special Servicer, as applicable, for the benefit of the
Trustee and the Certificateholders, shall (at no expense to the Trustee, the
Certificateholders, the Trust Fund or any Non-Trust Companion Loan Holder)
monitor the performance and enforce the obligations of each Sub-Servicer under
the related Sub-Servicing Agreement. Such enforcement, including, without
limitation, the legal prosecution of claims, termination of Sub-Servicing
Agreements in accordance with their respective terms and the pursuit of other
appropriate remedies, shall be in such form and carried out to such an extent
and at such time as the Master Servicer or Special Servicer, as applicable,
would require were it the owner of the subject Mortgage Loans. The Master
Servicer or the Special Servicer, as applicable, shall have the right to
remove a Sub-Servicer retained by it in accordance with the terms of the
related Sub-Servicing Agreement upon the events of default and other
termination events specified in the related Sub-Servicing Agreement.

          (d) If the Trustee or its designee becomes successor Master Servicer
and elects or is required to assume the rights and obligations of the Master
Servicer or the Special Servicer, as applicable, under any Sub-Servicing
Agreement, the Master Servicer or the Special Servicer, as

                                    -178-
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applicable, at its expense, shall deliver to the assuming party all
documents and records relating to such Sub-Servicing Agreement and the
Mortgage Loans then being serviced thereunder and an accounting of amounts
collected and held on behalf of it thereunder, and otherwise use reasonable
efforts to effect the orderly and efficient transfer of the Sub-Servicing
Agreement to the assuming party.

          (e) Notwithstanding the provisions of any Sub-Servicing Agreement,
each of the Master Servicer and the Special Servicer represents, warrants and
covenants that it shall remain obligated and liable to the Trustee, the
Certificateholders and the Non-Trust Companion Loan Holders for the
performance of its obligations and duties under this Agreement in accordance
with the provisions hereof to the same extent and under the same terms and
conditions as if it alone were servicing and administering the Mortgage Loans
for which it is responsible, and the Master Servicer, or the Special Servicer,
as applicable, shall pay the fees of any Sub-Servicer thereunder from its own
funds. In no event shall the Trust Fund bear any termination fee required to
be paid to any Sub-Servicer as a result of such Sub-Servicer's termination
under any Sub-Servicing Agreement.

          SECTION 3.23. Representations, Warranties and Covenants of the
                        Master Servicer.

          (a) The Master Servicer hereby represents and warrants to the
Trustee, for its own benefit and the benefit of the Certificateholders, and to
the Depositor, the Special Servicer and the Non-Trust Companion Loan Holders,
as of the Closing Date, that:

               (i) The Master Servicer is a corporation, duly organized,
          validly existing and in good standing under the laws of Ohio, and
          the Master Servicer is 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 have a material adverse
          effect on the ability of the Master Servicer to perform its
          obligations hereunder;

              (ii) The execution and delivery of this Agreement by the Master
          Servicer, and the performance and compliance with the terms of this
          Agreement by the Master Servicer, will not (A) violate the Master
          Servicer's certificate of incorporation and by-laws or (B)
          constitute a default (or an event which, with notice or lapse of
          time, or both, would constitute a default) under, or result in the
          breach of, any material agreement or other instrument to which it is
          a party or by which it is bound, or (C) result in the violation of
          any law, rule, regulation, order, judgment or decree binding on the
          Master Servicer which, in the case of either (B) or (C), is likely
          to materially and adversely affect the Master Servicer's ability to
          perform hereunder;

              (iii) This Agreement, assuming due authorization, execution and
          delivery by the other parties hereto, constitutes a valid, legal and
          binding obligation of the Master Servicer, enforceable against the
          Master Servicer in accordance with the terms hereof, except as such
          enforcement may be limited by (A) applicable bankruptcy, insolvency,
          reorganization, liquidation, receivership, moratorium and other laws
          relating to or affecting creditors' rights generally, and (B)
          general principles of equity, regardless of whether such enforcement
          is considered in a proceeding in equity or at law;

               (iv) The Master Servicer is not in violation with respect to
          any law, any order or decree of any court, or any order, regulation
          or demand of any federal, state, municipal or governmental agency,
          which violations are reasonably likely to have consequences that
          would

                                    -179-
<PAGE>

          materially and adversely affect the financial condition or
          operations of the Master Servicer or its properties taken as a whole
          or are reasonably likely to have consequences that would materially
          and adversely affect its ability to perform its duties and
          obligations hereunder;

               (v) No litigation is pending or, to the best of the Master
          Servicer's knowledge, threatened against the Master Servicer which
          would prohibit the Master Servicer from entering into this Agreement
          or, in the Master Servicer's good faith and reasonable judgment, is
          likely to materially and adversely affect the ability of the Master
          Servicer to perform its obligations under this Agreement;

              (vi) No consent, approval, authorization or order of any court
          or governmental agency or body is required for the execution,
          delivery and performance by the Master Servicer, or compliance by
          the Master Servicer with, this Agreement or the consummation of the
          Master Servicer's transactions contemplated by this Agreement,
          except for any consent, approval, authorization or order which has
          been obtained or cannot be obtained prior to the actual performance
          by the Master Servicer of its obligations under this Agreement, or
          which, if not obtained, would not have a materially adverse effect
          on the ability of the Master Servicer to perform its obligations
          hereunder;

              (vii) The Master Servicer has full corporate power and
          authority to enter into and perform in accordance with this
          Agreement, has duly authorized the execution, delivery and
          performance of this Agreement, and has duly executed and delivered
          this Agreement;

             (viii) The Master Servicer has examined each Sub-Servicing
          Agreement to which it is a party, and shall examine each
          Sub-Servicing Agreement to which it intends to become a party, and
          in each such case, the terms of such Sub-Servicing Agreements are
          not, or, in the case of any Sub-Servicing Agreement to be entered
          into by the Master Servicer at a future date, will not be,
          materially inconsistent with the terms of this Agreement; and

               (ix) Each officer and employee of the Master Servicer that has
          responsibilities concerning the servicing and administration of
          Mortgage Loans is covered by errors and omissions insurance and the
          fidelity bond in the amounts and with the coverage required by
          Section 3.07(c).

          (b) The representations, warranties and covenants set forth in
subsection (a) above shall survive the execution and delivery of this
Agreement.

          SECTION 3.24. Representations, Warranties and Covenants of the
                        Special Servicer.

          (a) The Special Servicer hereby represents and warrants to the
Trustee, for its own benefit and the benefit of the Certificateholders, and to
the Depositor, the Master Servicer and the Non-Trust Companion Loan Holders,
as of the Closing Date and as to the Special Servicer, that:

               (i) The Special Servicer is a corporation duly organized,
          validly existing and in good standing under the laws of the State of
          Florida, and the Special Servicer is 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;

                                    -180-
<PAGE>

               (ii) The execution and delivery of this Agreement by the
          Special Servicer, and the performance and compliance with the terms
          of this Agreement by the Special Servicer, will not violate the
          Special Servicer's charter and by-laws or constitute a default (or
          an event which, with notice or lapse of time, or both, would
          constitute a default) under, or result in the breach of, any
          material agreement or other instrument to which it is a party or
          which is applicable to it or any of its assets, or result in the
          violation of any law, rule, regulation, order, judgment or decree to
          which the Special Servicer or its property is subject;

              (iii) The Special Servicer has the full power and authority to
          enter into and consummate all transactions contemplated by this
          Agreement, has duly authorized the execution, delivery and
          performance of this Agreement, and has duly executed and delivered
          this Agreement;

               (iv) This Agreement, assuming due authorization, execution and
          delivery by each of the other parties hereto, constitutes a valid,
          legal and binding obligation of the Special Servicer, enforceable
          against the Special Servicer in accordance with the terms hereof,
          subject to (A) applicable bankruptcy, insolvency, reorganization,
          moratorium and other laws affecting the enforcement of creditors'
          rights generally and (B) general principles of equity, regardless of
          whether such enforcement is considered in a proceeding in equity or
          at law;

               (v) The Special Servicer is not in violation of, and its
          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, any order or decree of any court or arbiter,
          or any order, regulation or demand of any federal, state or local
          governmental or regulatory authority, which violation, in the
          Special Servicer's good faith and reasonable judgment, is likely to
          affect materially and adversely either the ability of the Special
          Servicer to perform its obligations under this Agreement or the
          financial condition of the Special Servicer;

               (vi) No litigation is pending or, to the best of the Special
          Servicer's knowledge, threatened against the Special Servicer which
          would prohibit the Special Servicer from entering into this
          Agreement or, in the Special Servicer's good faith and reasonable
          judgment, is likely to materially and adversely affect either the
          ability of the Special Servicer to perform its obligations under
          this Agreement or the financial condition of the Special Servicer;

              (vii) Each officer, director or employee of the Special
          Servicer that has or, following the occurrence of a Servicing
          Transfer Event, would have responsibilities concerning the servicing
          and administration of Mortgage Loans is covered by errors and
          omissions insurance and fidelity bond in the amounts and with the
          coverage required by Section 3.07(c). Neither the Special Servicer
          nor any of its officers, directors or employees that is or,
          following the occurrence of a Servicing Transfer Event, would be
          involved in the servicing or administration of Mortgage Loans has
          been refused such coverage or insurance;

               (viii) No consent, approval, authorization or order of any
          court or governmental agency or body is required for the execution,
          delivery and performance by the Special Servicer, or compliance by
          the Special Servicer with, this Agreement or the consummation of the
          transactions contemplated by this Agreement, except for any consent,
          approval, authorization or order which has been obtained or cannot
          be obtained prior to the actual performance by the Special Servicer
          of its obligations under this Agreement, or which, if not obtained
          would not

                                    -181-
<PAGE>

          have a materially adverse effect on the ability of the
          Special Servicer to perform its obligations hereunder;

               (ix) The Special Servicing Fee represents reasonable servicing
          compensation; and

                (x) The Special Servicer has examined each Sub-Servicing
          Agreement to which it is a party, and shall examine each
          Sub-Servicing Agreement to which it intends to become a party, and
          in each such case, the terms of such Sub-Servicing Agreements are
          not, or, in the case of any Sub-Servicing Agreement to be entered
          into by the Special Servicer at a future date, will not, be
          materially inconsistent with the terms of this Agreement.

          (b) The representations, warranties and covenants set forth in
subsection (a) above shall survive the execution and delivery of this
Agreement.

          SECTION 3.25. Limitation on Liability of the Series 2003-C4
                        Directing Certificateholder.

          By its acceptance of a Certificate, each Certificateholder confirms
its understanding that the Series 2003-C4 Directing Certificateholder may take
actions that favor the interests of one or more Classes of the Certificates
over other Classes of the Certificates and that the Series 2003-C4 Directing
Certificateholder may have special relationships and interests that conflict
with those of Holders of some Classes of the Certificates and, absent willful
misfeasance, bad faith, negligence or negligent disregard of obligations or
duties on the part of the Series 2003-C4 Directing Certificateholder, each
Certificateholder agrees to take no action against the Series 2003-C4
Directing Certificateholder as a result of such a special relationship or
conflict.

          SECTION 3.26. Filings with the Securities and Exchange Commission.

          (a) With respect to the Trust's fiscal year 2003 (and any other
subsequent fiscal year for the Trust, if as of the beginning of such other
subsequent fiscal year for the Trust, the Registered Certificates are held
(directly or, in the case of Registered Certificates held in book-entry form,
through the Depository) by at least 300 Holders and/or Depository Participants
having accounts with the Depository, or if reporting under the Exchange Act is
required during or for, as applicable, such fiscal year because the Trustee
failed to make the requisite filing suspending such reporting), the Trustee
shall:

               (i) with respect to each Distribution Date during such fiscal
          year, in accordance with the Exchange Act, the rules and regulations
          promulgated thereunder and applicable "no-action letters" issued by
          the Commission, prepare for filing, execute on behalf of the Trust
          and properly and timely file with the Commission monthly, with
          respect to the Trust, a Current Report on Form 8-K, which shall
          include as an exhibit a copy of the Trustee Report disseminated by
          the Trustee on such Distribution Date and such other items as the
          Depositor may reasonably request;

               (ii) during such fiscal year, (A) monitor for and promptly
          notify the Depositor of the occurrence or existence of any of the
          matters identified in Section 11.10(a) and/or Section 3.26(c) (in
          each case to the extent that a Responsible Officer of the Trustee
          has actual knowledge thereof), (B) cooperate with the Depositor in
          obtaining all necessary information in order to

                                    -182-
<PAGE>

          enable the Depositor to prepare a Current Report on Form 8-K
          reporting any such matter in accordance with the Exchange Act, the
          rules and regulations promulgated thereunder and applicable
          "no-action letters" issued by the Commission, and (C) execute on
          behalf of the Trust and promptly file with the Commission any such
          Current Report on Form 8-K prepared by or on behalf of the Depositor
          and delivered to the Trustee;

               (iii) at the reasonable request of, and in accordance with the
          reasonable directions of, any other party hereto, prepare for filing
          and promptly file with the Commission an amendment to any Current
          Report on Form 8-K previously filed with the Commission with respect
          to the Trust; and

               (iv) within 90 days following the end of such fiscal year,
          prepare and properly file with the Commission, with respect to the
          Trust, an Annual Report on Form 10-K, which complies in all material
          respects with the requirements of the Exchange Act, the rules and
          regulations promulgated thereunder and applicable "no-action
          letters" issued by the Commission, which shall include as exhibits
          the Officer's Certificates and Accountant's Statements delivered
          pursuant to Section 3.13 and Section 3.14, respectively, with
          respect to the Master Servicer and the Special Servicer for such
          fiscal year, and which shall further include such certification(s)
          as may be required under the Sarbanes-Oxley Act of 2002 and any
          rules promulgated by, or interpretive guidance from, the Commission
          (such certification(s), individually and collectively, insofar as
          they are required to be part of any particular Annual Report on Form
          10-K, a "Sarbanes-Oxley Certification") (which Sarbanes-Oxley
          Certifications shall be signed by an officer of the Depositor as
          contemplated by this Section 3.26);

provided that (x) the Trustee shall not have any responsibility to file any
items (other than those generated by it) that have not been received in a
format suitable for (or readily convertible to a format suitable for)
electronic filing via the EDGAR system (including "ASCII", "Microsoft Excel"
(solely in the case of reports from the Master Servicer or the Special
Servicer pursuant to Section 3.12), "Microsoft Word" or another format
reasonably acceptable to the Trustee) and shall not have any responsibility to
convert any such items to such format (other than those items generated by it
or readily convertible to such format) and (y) the Depositor shall be
responsible for preparing, executing and filing (via the EDGAR system within
15 days following the Closing Date) a Current Report on Form 8-K reporting the
establishment of the Trust and whereby this Agreement is filed as an exhibit.
Each of the other parties to this Agreement shall deliver to the Trustee in
the format required for (or readily convertible to a format suitable for)
electronic filing via the EDGAR system (including "ASCII", "Microsoft Excel"
(solely in the case of reports from the Master Servicer or the Special
Servicer pursuant to Section 3.12), "Microsoft Word" or another format
reasonably acceptable to the Trustee) any and all items contemplated to be
filed with the Commission pursuant to this Section 3.26(a).

          The Trustee shall have no liability to Certificateholders or the
Trust with respect to any failure to properly prepare or file with the
Commission any of the reports under the Exchange Act contemplated by this
Section 3.26(a) to the extent that such failure did not result from any
negligence, bad faith or willful misconduct on the part of the Trustee.

          (b) All Annual Reports on Form 10-K with respect to the Trust shall
include a Sarbanes-Oxley certification, and a copy of such Sarbanes-Oxley
Certification shall be provided to the Rating Agencies. An officer of the
Depositor shall sign the Sarbanes-Oxley Certification. The

                                    -183-
<PAGE>

Depositor hereby grants to the Trustee a limited power of attorney
to execute and file such Annual Report on Form 10-K on behalf of the
Depositor, which power of attorney shall continue until the earlier of (i)
receipt by the Trustee from the Depositor of written notice terminating such
power of attorney or (ii) the termination of the Trust. The Master Servicer,
the Special Servicer and the Trustee (each, a "Performing Party") shall
provide to the Person who signs the Sarbanes-Oxley Certification (the
"Certifying Person"), and the Special Servicer shall also provide to the
Master Servicer, a certification (each, a "Performance Certification"), in the
form set forth on Exhibit M hereto (with respect to the Master Servicer and
the Trustee) or in the form set forth on Exhibit A to Exhibit M hereto (with
respect to the Special Servicer), as applicable, on which the Certifying
Person, the Depositor (if the Certifying Person is an individual), and the
Depositor's partner, representative, Affiliate, member, manager, director,
officer, employee or agent (collectively with the Certifying Person,
"Certification Parties") can rely. The Trustee's certification with respect to
items 1 through 3 of Exhibit M hereto shall relate to distribution
information, and the Master Servicer's certification with respect to items 4
and 5 of Exhibit M hereto (and the Special Servicer's certification with
respect to the items on Exhibit A to Exhibit M hereto) shall relate to
servicing information. Notwithstanding the foregoing, nothing in this
paragraph shall require any Performing Party to (i) certify or verify the
accurateness or completeness of any information provided to such Performing
Party by third parties, (ii) to certify information other than to such
Performing Party's knowledge and in accordance with such Performing Party's
responsibilities hereunder or under any other applicable servicing agreement
or (iii) with respect to completeness of information and reports, to certify
anything other than that all fields of information called for in written
reports prepared by such Performing Party have been completed except as they
have been left blank on their face. In addition, if directed by the Depositor,
such Performing Party (other than the Trustee) shall provide an identical
certification to Depositor's certified public accountants that such Performing
Party provided to its own certified public accountants to the extent such
certification relates to the performance of such Performing Party's duties
pursuant to this Agreement or a modified certificate limiting the
certification therein to the performance of such Performing Party's duties
pursuant to this Agreement. In the event any Performing Party is terminated or
resigns pursuant to the terms of this Agreement, such Performing Party shall
provide a Performance Certification to the Depositor pursuant to this Section
3.26 with respect to the period of time such Performing Party was subject to
this Agreement.

          (c) At all times during the Trust's fiscal year 2003 (and, if as of
the beginning of any other fiscal year for the Trust, the Registered
Certificates are held (directly or, in the case of Registered Certificates
held in book-entry form, through the Depository) by at least 300 Holders
and/or Depository Participants having accounts with the Depository, or if
reporting under the Exchange Act is required during or for, as applicable, any
other fiscal year because the Trustee failed to make the requisite filing
suspending such reporting, at all times during such other fiscal year), the
Trustee shall monitor for and promptly notify the Depositor of the occurrence
or existence of any of the following matters of which a Responsible Officer of
the Trustee has actual knowledge:

               (i) any failure of the Trustee to make any monthly
          distributions to the Holders of any Class of Certificates, which
          failure is not otherwise reflected in the Certificateholder Reports
          filed with the Commission or has not otherwise been reported to the
          Depositor pursuant to any other Section of this Agreement;

               (ii) any acquisition or disposition by the Trust of a Trust
          Mortgage Loan or an REO Property, which acquisition or disposition
          has not otherwise been reflected in the

                                    -184-
<PAGE>

          Certificateholder Reports filed with the Commission or has not
          otherwise been reported to the Depositor pursuant to any other
          section of this Agreement;

               (iii) any other acquisition or disposition by the Trust of a
          significant amount of assets (other than Permitted Investments,
          Trust Mortgage Loans and REO Properties), other than in the normal
          course of business;

               (iv) any change in the fiscal year of the Trust;

               (v) any material legal proceedings, other than ordinary routine
          litigation incidental to the business of the Trust, to which the
          Trust (or any party to this Agreement on behalf of the Trust) is a
          party or of which any property included in the Trust Fund is
          subject, or any threat by a governmental authority to bring any such
          legal proceedings;

               (vi) any event of bankruptcy, insolvency, readjustment of debt,
          marshalling of assets and liabilities, or similar proceedings in
          respect of or pertaining to the Trust or any party to this
          Agreement, or any actions by or on behalf of the Trust or any party
          to this Agreement indicating its bankruptcy, insolvency or inability
          to pay its obligations; and

               (vii) any change in the rating or ratings assigned to any Class
          of Certificates not otherwise reflected in the Certificateholder
          Reports filed with the Commission;

provided that (x) the actual knowledge of a Responsible Officer of the Trustee
of any material legal proceedings of which property included in the Trust Fund
is subject or of any material legal proceedings threatened by a governmental
authority is limited to circumstances where it would be reasonable for the
Trustee to identify such property as an asset of, or as securing an asset of,
the Trust or such threatened proceedings as concerning the Trust and (y) no
Responsible Officer of the Trustee shall be deemed to have actual knowledge of
the matters described in clauses (vi) and (vii) of this Section 3.26(b) unless
such Responsible Officer was notified in writing.

          (d) If as of the beginning of any fiscal year for the Trust (other
than fiscal year 2003), the Registered Certificates are held (directly or, in
the case of Registered Certificates held in book-entry form, through the
Depository) by less than 300 Holders and/or Depository Participants having
accounts with the Depository, the Trustee shall, in accordance with the
Exchange Act and the rules and regulations promulgated thereunder, timely file
a Form 15 with respect to the Trust notifying the Commission of the suspension
of the reporting requirements under the Exchange Act.

          (e) Nothing contained in this Section 3.26 shall be construed to
require any party to this Agreement (other than the Depositor), or any of such
party's officers, to execute any Form 10-K or any Sarbanes-Oxley
Certification. The failure of any party to this Agreement, or any of such
party's officers, to execute any Form 10-K or any Sarbanes-Oxley Certification
shall not be regarded as a breach by such party of any of its obligations
under this Agreement. The Depositor, each Performing Party and the Trustee
hereby agree to negotiate in good faith with respect to compliance with any
further guidance from the Commission or its staff relating to the execution of
any Form 10-K and any Sarbanes-Oxley Certification. In the event such parties
agree on such matters, this Agreement shall be amended to reflect such
agreement pursuant to Section 11.01.

                                    -185-
<PAGE>

          (f) Each Performing Party shall indemnify and hold harmless each
Certification Party from and against any losses, damages, penalties, fines,
forfeitures, reasonable and necessary legal fees and related costs, judgments
and other costs and expenses incurred by such Certification Party arising out
of (i) an actual breach by the applicable Performing Party of its obligations
under this Section 3.26 or (ii) negligence, bad faith or willful misconduct on
the part of such Performing Party in the performance of its obligations
otherwise hereunder. A Performing Party shall have no obligation to indemnify
any Certification Party for an inaccuracy in the Performance Certification of
any other Performing Party.

          (g) If any Mayfair Mall Non-Trust Companion Loan is included in a
securitization trust and backs publicly offered securities, then each
Performing Party agrees that any Performance Certification delivered by it
hereunder may be delivered to, and relied upon by, any Person performing
substantially the same function with respect to such securitization trust as a
Certification Party hereunder, and such Performing Party shall indemnify and
hold harmless any such Person in respect of such securitization trust to whom
any such Performance Certification is delivered to the same extent that such
Performing Party would indemnify a Certification Party hereunder.

          (h) The respective parties hereto agree to cooperate with all
reasonable requests made by any Certifying Person in connection with such
Person's attempt to conduct any due diligence that such Person reasonably
believes to be appropriate in order to allow it to deliver any Sarbanes-Oxley
Certification or portion thereof with respect to the Trust.

          (i) Unless the other parties hereto receive written notice from the
Trustee to the contrary, the Trustee hereby certifies that it intends to file
any Annual Report on Form 10-K with respect to the Trust for any particular
fiscal year on the last Business Day that is not more than 90 days following
the end of such fiscal year. Unless an alternative time period is provided for
in this Agreement, the respective parties hereto shall deliver to the Trustee,
at least 10 Business Days prior to the date on which the Trustee intends to
file any Annual Report on Form 10-K as contemplated by Section 3.26(a), any
items required to be delivered by such party that are to be an exhibit to such
Annual Report on Form 10-K. The Trustee hereby notifies the Master Servicer
and the Special Servicer that an Annual Report on Form 10-K shall be required
to be filed with respect to the Trust for 2003.

          SECTION 3.27. Lock-Box Accounts, Cash Collateral Accounts and
                        Servicing Accounts.

          (a) The Master Servicer shall administer each Lock-Box Account, Cash
Collateral Account and Servicing Account in accordance with the related
Mortgage or Loan Agreement, Cash Collateral Account Agreement or Lock-Box
Agreement, if any. Each Lock-Box Account, Cash Collateral Account and
Servicing Account shall be an Eligible Account, except to the extent provided
in the related Mortgage Loan Documents.

          (b) For any Mortgage Loan that provides that a Lock-Box Account will
be established upon the occurrence of certain events specified in the related
Mortgage Loan Documents, the Master Servicer shall establish on behalf of the
Trust such Lock-Box Account upon the occurrence of such events unless the
Master Servicer determines, in accordance with the Servicing Standard, that
such Lock-Box Account should not be established. Notwithstanding the
foregoing, the Master Servicer shall establish a Lock-Box Account for each ARD
Mortgage Loan no later than its Anticipated Repayment Date.

                                    -186-
<PAGE>

          (c) With respect to each Mortgage Loan requiring the establishment
of a Lock-Box Account, the Master Servicer, upon receipt of the annual
financial statements of each Borrower, shall compare the gross revenue for the
related Mortgaged Property, as set forth in such financial statements, with
the history of the related Borrower's deposits (on an annual basis) into such
Lock-Box Account and shall report any discrepancies over 10% to the Special
Servicer.

          (d) The Master Servicer shall timely provide all notifications and
otherwise timely take all actions necessary to perfect or maintain the
perfection of the security interest of the Trustee in each Lock-Box Account,
Cash Collateral Account and Servicing Account with respect to any Mortgage
Loan.

          SECTION 3.28. Interest Reserve Account.

          (a) The Trustee shall establish, on or before the Closing Date, and
maintain the Interest Reserve Account. The Trustee shall give notice to the
Master Servicer, the Special Servicer and the Depositor of the location of the
Interest Reserve Account and, prior to any change thereof, any new location of
the Interest Reserve Account. On each Distribution Date in any February and on
each Distribution Date in any January which occurs in a year that is not a
leap year, the Trustee shall withdraw from the Distribution Account and
deposit into the Interest Reserve Account in respect of each Interest Reserve
Loan an amount withheld from the related Monthly Payment or P&I Advance equal
to one day's interest on the Stated Principal Balance of such Interest Reserve
Loan immediately prior to such Distribution Date at the related Net Mortgage
Rate (or, in the case of the Mayfair Mall Trust Mortgage Loan or any successor
REO Trust Mortgage Loan with respect thereto, on the Uncertificated Principal
Balance of REMIC I Regular Interest MM-1 immediately prior to such
Distribution Date at 3.076250% per annum), to the extent a full Monthly
Payment or P&I Advance is made in respect thereof (all amounts so deposited in
any January, except in the case of a leap year, and in any February, "Withheld
Amounts").

          (b) On each Distribution Date occurring in March, the Trustee shall
withdraw from the Interest Reserve Account an amount equal to the Withheld
Amounts from the immediately preceding January and February, if any, and
deposit such amount (excluding any net investment income thereon) into the
Distribution Account. On each Distribution Date, the Trustee shall deposit any
Net Investment Loss into the Interest Reserve Account and shall be permitted
to withdraw any Net Investment Earnings from the Interest Reserve Account.

          SECTION 3.29. Limitations on and Authorizations of the Master
                        Servicer and Special Servicer with Respect to Certain
                        Mortgage Loans.

          (a) Prior to taking any action with respect to a Mortgage Loan
secured by any Mortgaged Properties located in a "one-action" state, the
Special Servicer shall consult with legal counsel, the fees and expenses of
which shall be covered by a Servicing Advance by the Master Servicer.

          (b) With respect to any Mortgage Loan which permits the related
Borrower, with the consent or grant of a waiver by the mortgagee, to incur
additional indebtedness (other than indebtedness of the type addressed in
Section 3.08) or to amend or modify the related Borrower's organizational
documents, the Special Servicer may consent (subject to Section 3.20 hereof)
to either such action, or grant a waiver with respect thereto, only if the
Special Servicer determines that such consent or grant of

                                    -187-
<PAGE>

waiver is likely to result in a greater recovery on a present value
basis (discounted at the related Mortgage Rate) than the withholding of such
consent or grant of waiver, and (in the case of a Trust Mortgage Loan) the
Special Servicer first obtains written confirmation from each Rating Agency
that such consent or grant of waiver would not, in and of itself, result in a
downgrade, qualification or withdrawal of any of the then-current ratings
assigned to the Certificates. The Master Servicer shall not be entitled or
required to consent to, or grant a waiver with respect to, either action,
except in accordance with Section 3.20 hereof, and except that, if such action
is related to an assumption transaction contemplated by Section 3.08, the
Master Servicer shall process the Borrower's request for such consent or
waiver and submit such request for approval by the Special Servicer in
connection with its approval of the subject assumption transaction pursuant to
Section 3.08.

          (c) With respect to any ARD Mortgage Loan, so long as no event of
default beyond applicable notice and grace periods has occurred and is
continuing, the Master Servicer and the Special Servicer shall not take any
enforcement action with respect to the payment of Excess Interest or principal
in excess of the principal component of the constant Monthly Payment, other
than requests for collection, until the date on which principal and all
accrued interest (other than Excess Interest) has been paid in full (the
failure of the Borrower to pay Excess Interest shall not be considered an
event of default for purposes of this paragraph). Nothing in this paragraph
shall limit the obligation of the Master Servicer and the Special Servicer to
establish a Lock-Box Account pursuant to Section 3.27.

          (d) To the extent not inconsistent with the related Mortgage Loan
Documents, neither the Master Servicer nor the Special Servicer shall consent
to a change of franchise affiliation with respect to any hotel property that
in whole or in part constitutes the Mortgaged Property securing a Mortgage
Loan unless it obtains written confirmation from each Rating Agency that such
change of franchise affiliation would not, in and of itself, result in a
downgrade, qualification or withdrawal of the then-current ratings on any
Class of Certificates. Neither the Master Servicer nor the Special Servicer
shall be required to obtain such written consent from any Rating Agency if
such Mortgage Loan is not one of the ten largest Trust Mortgage Loans (which
term shall, for the purposes of this Section 3.29(d), include groups of
Crossed Trust Mortgage Loans and groups of Trust Mortgage Loans made to
affiliated Borrowers) by outstanding principal balance at such time and the
then-current principal balance of such Mortgage Loan is less than $35,000,000.

          (e) To the extent not inconsistent with the related Mortgage Loan
Documents, the Master Servicer or Special Servicer shall not consent to a
change in the property manager with respect to a property securing a Mortgage
Loan that is one of the ten largest Trust Mortgage Loans (which term shall,
for the purposes of this Section 3.29(e), include groups of Crossed Trust
Mortgage Loans and groups of Trust Mortgage Loans made to affiliated
Borrowers) by outstanding principal balance at such time or that has a
then-current principal balance of greater than $35,000,000, unless it obtains
confirmation from S&P that the appointment of such new property manager would
not, in and of itself, result in a downgrade, qualification or withdrawal of
the then current ratings on any Class of Certificates. The Master Servicer
shall use reasonable efforts to cause the related Borrower to pay the costs of
such confirmation, and otherwise such costs shall be a Trust Fund expense.

          (f) The Master Servicer shall, as to each Trust Mortgage Loan which
is secured by the interest of the related Borrower under a Ground Lease, at
its own expense, promptly (and in any event within 45 days of the Closing
Date) notify the related ground lessor of the transfer of such Trust Mortgage
Loan to the Trust pursuant to this Agreement and inform such ground lessor
that any notices

                                    -188-
<PAGE>

of default under the related Ground Lease should thereafter be forwarded to
the Master Servicer, on behalf of the Trustee.

          SECTION 3.30. Master Servicer and Special Servicer May Own
                        Certificates.

          (a) The Master Servicer and any agent of the Master 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; except, with respect to Voting Rights, as set forth in
the definition of "Certificateholder".

          (b) The Special Servicer and any agent of the Special 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 Special
Servicer or such agent; except, with respect to Voting Rights, as set forth in
the definition of "Certificateholder".

          SECTION 3.31. Certain Matters Regarding the Mayfair Mall Mortgage
                        Loan Combination.

          (a) Prior to taking, or permitting the Master Servicer to take, any
of the Mayfair Mall Specially Designated Servicing actions with respect to the
Mayfair Mall Mortgage Loan Combination or any related REO Property, the
Special Servicer shall provide notice of its intent to take or permit the
taking of such particular action, together with all information that the
Special Servicer considers to be material in connection with evaluating such
particular action, to: (i) the Class MM Directing Certificateholder, but only
if a Mayfair Mall Change of Control Event does not then exist; (ii) the Series
2003-C4 Directing Certificateholder; and (iii) each of the Mayfair Mall
Non-Trust Companion Loan Holders (or, in the case of any particular Mayfair
Mall Non-Trust Companion Loan Holder up to three designees and/or
representatives thereof appointed in accordance with Section 3.9 of the
Mayfair Mall Intercreditor Agreement). For 10 Business Days following its
receipt of any notice delivered by the Special Servicer pursuant to the prior
sentence (to the extent such period does not delay the Special Servicer from
taking any action that is in the best interests of the Certificateholders and
the Mayfair Mall Non-Trust Companion Loan Holders (as a collective whole)
prior to the expiration of such period), each of the Persons referred to in
clauses (i), (ii) and (iii) of the prior sentence shall be entitled to consult
with and advise the Special Servicer regarding the proposed action; provided
that the Special Servicer shall have no obligation to follow any advice of, or
take any direction from, any such Person (except to the extent that such
Person is part of a Mayfair Mall Control Group and is exercising the rights
set forth in Section 3.31(b)). Upon reasonable request of any of the Persons
referred to in clauses (i), (ii) and (iii) of the second preceding sentence
made within 10 Business Days following its receipt of any notice delivered by
the Special Servicer pursuant to the second preceding sentence, the Special
Servicer shall provide the requesting Person with any additional information
regarding the proposed action that is in the Special Servicer's possession or
obtainable by the Special Servicer with reasonable effort.

          (b) Subject to the last paragraph of this Section 3.31(b), the
Special Servicer shall not take, or consent to the Master Servicer's taking,
any of the Mayfair Mall Specially Designated Servicing Actions with respect to
the Mayfair Mall Mortgage Loan Combination or any related REO Property as to
which Persons constituting a Mayfair Mall Control Group have objected in
writing within 10 Business Days of having been notified thereof and having
been provided with all information that such Persons have reasonably requested
with respect thereto promptly following receipt of the subject notice, all in
accordance with Section 3.1.2 of the Mayfair Mall Intercreditor Agreement and
Section 3.31(a)

                                    -189-
<PAGE>

hereof (it being understood and agreed that if such written
objection has not been received by the Special Servicer within such
10-Business Day period, then the Mayfair Mall Non-Trust Companion Loan
Holders, their respective designees and representatives appointed in
accordance with Section 3.9 of the Mayfair Mall Intercreditor Agreement and
the Series 2003-C4 Directing Certificateholder shall be deemed to have
approved the taking of the subject Mayfair Mall Specially Designated Servicing
Action); provided that, in the event that the Special Servicer determines that
immediate action is necessary to protect the interests of the
Certificateholders and the Mayfair Mall Non-Trust Companion Loan Holders (as a
collective whole), the Special Servicer may take, or consent to the Master
Servicer's taking, a Mayfair Mall Specially Designated Servicing Action with
respect to the Mayfair Mall Mortgage Loan Combination or any related REO
Property without waiting for the response of any Mayfair Mall Non-Trust
Companion Loan Holder, any designee or representative thereof or the Series
2003-C4 Directing Certificateholder.

          In addition, subject to the last paragraph of this Section 3.31(b),
Persons constituting a Mayfair Mall Control Group may direct the Special
Servicer to take, or to refrain from taking, any actions with respect to the
servicing and/or administration of the Mayfair Mall Mortgage Loan Combination
(if such Mortgage Loans are Specially Serviced Mortgage Loans) or any related
REO Property as such Persons may deem advisable or as to which provision is
otherwise made herein. Upon reasonable request, the Special Servicer shall
provide any Person that could constitute part of a Mayfair Mall Control Group
in respect of the matters contemplated by this paragraph with any information
in the Special Servicer's possession with respect to such matters, including
its reasons for determining to take a proposed action.

          With respect to the matters contemplated by this Section 3.31(b) and
the corresponding provisions of Section 3.1.2 of the Mayfair Mall
Intercreditor Agreement, the Series 2003-C4 Directing Certificateholder is
hereby designated, on behalf of the Trust Fund, as holder of the Mayfair Mall
Trust Mortgage Loan, to exercise the rights of the holder of the Mayfair Mall
Trust Mortgage Loan or any successor REO Trust Mortgage Loan with respect
thereto and to constitute part of a Mayfair Mall Control Group.

          Notwithstanding the foregoing, no advice, direction or objection of
any Mayfair Mall Control Group contemplated by this Section 3.31(b) shall (i)
require or cause the Special Servicer or the Master Servicer to violate the
terms of the Mayfair Mall Mortgage Loan Combination, the Mayfair Mall
Intercreditor Agreement or any other related intercreditor, co-lender or
similar agreement, applicable law or any provision of this Agreement,
including the Special Servicer's and Master Servicer's obligation to act in
accordance with the Servicing Standard and to maintain the REMIC status of
each REMIC Pool, or (ii) result in an Adverse REMIC Event with respect to any
REMIC Pool, an Adverse Grantor Trust Event with respect to either Grantor
Trust Pool or any similar event with respect to a comparable tax arrangement
involving a Mayfair Mall Non-Trust Companion Loan, or (iii) expose the Master
Servicer, the Special Servicer, the Depositor, Column, the Trust Fund, the
Trustee or their Affiliates, officers, directors, employees or agents to any
claim, suit or liability, or (iv) materially expand the scope of the Special
Servicer's or the Master Servicer's responsibilities under this Agreement; and
the Special Servicer will neither follow any such advice, direction or
objection if given by a Mayfair Mall Control Group nor initiate any such
actions.

          (c) Prior to entering into any modification of the Mayfair Mall
Mortgage Loan Combination that would materially affect the monetary terms of
the Mayfair Mall Mortgage Loan

                                    -190-
<PAGE>

Combination, the Master Servicer or Special Servicer, as applicable,
shall provide the Class MM Directing Certificateholder, if no Mayfair Mall
Change of Control Event then exists, or the Series 2003-C4 Directing
Certificateholder (if a Mayfair Mall Change of Control Event has occurred and
is then continuing), and each of the Mayfair Mall Non-Trust Companion Loan
Holders (or, in the case of any particular Mayfair Mall Non-Trust Companion
Loan Holder, up to three designees and/or representatives thereof appointed in
accordance with Section 3.9 of the Mayfair Mall Intercreditor Agreement) with
notice thereof and with all information that the Master Servicer or Special
Servicer, as applicable, considers material, but in any case including a draft
of the agreement, if any, that sets forth such proposed modification. The
Class MM Directing Certificateholder, if no Mayfair Mall Change of Control
Event then exists, or the Series 2003-C4 Directing Certificateholder (if a
Mayfair Mall Change of Control Event has occurred and is then continuing),
shall have the right to purchase the Mayfair Mall Trust Mortgage Loan at a
price equal to the Purchase Price therefor by delivering notice to the Master
Servicer or Special Servicer, within five Business Days of receipt of the
materials described in the preceding sentence, that it intends to exercise
such purchase option (such purchase option to terminate at the end of such
five-Business Day period). In the event that it elects to exercise such
purchase option, the Class MM Directing Certificateholder or the Series
2003-C4 Directing Certificateholder, as applicable, shall deliver such
Purchase Price to the Master Servicer within three Business Days of the end of
the five-Business Day period contemplated by the preceding sentence. The
purchase option granted under this paragraph shall be in addition to the
purchase option granted pursuant to the next paragraph. In addition,
consistent with Section 3.9 of the Mayfair Mall Intercreditor Agreement, the
Class MM Directing Certificateholder, if no Mayfair Mall Change of Control
Event exists, and the Series 2003-C4 Directing Certificateholder, if a Mayfair
Mall Change of Control Event has occurred and is continuing, is hereby
designated as the Person (solely in its individual capacity, and not on behalf
of the Trust) entitled to exercise the purchase option of the holder of the
Mayfair Mall Trust Mortgage Loan with respect to the Mayfair Mall Non-Trust
Companion Loans, pursuant to Section 3.7.2 of the Mayfair Mall Intercreditor
Agreement, under circumstances similar to those contemplated by the first
sentence of this paragraph, and the parties hereto shall reasonably cooperate
in connection with any exercise of that purchase option.

          The Class MM Directing Certificateholder, if no Mayfair Mall Change
of Control Event then exists, or the Series 2003-C4 Directing
Certificateholder, if a Mayfair Mall Change of Control Event has occurred and
is then continuing, shall have the right, by written notice to the Master
Servicer and Special Servicer (a "Mayfair Mall Purchase Notice") delivered (i)
during any Mayfair Mall Cure Period for which the Class MM Directing
Certificateholder or the Mayfair Mall Non-Trust Companion Loan Holder, as
applicable, is entitled to make a Mayfair Mall Cure Payment or (ii) at any
time the Mayfair Mall Trust Mortgage Loan is a Specially Serviced Mortgage
Loan (provided that the Mayfair Mall Trust Mortgage Loan is then in default or
default with respect thereto is reasonably foreseeable) to purchase the
Mayfair Mall Trust Mortgage Loan in whole but not in part at the Purchase
Price. Upon the delivery of a Mayfair Mall Purchase Notice to the Master
Servicer and Special Servicer, the Special Servicer shall, on behalf of the
Trust Fund, sell (and the Class MM Directing Certificateholder, if no Mayfair
Mall Change of Control Event then exists, or the Series 2003-C4 Directing
Certificateholder, if a Mayfair Mall Change of Control Event has occurred and
is then continuing, shall purchase) the Mayfair Mall Trust Mortgage Loan at
the Purchase Price, on a date (the "Mayfair Mall Purchase Date") not less than
five Business Days nor more than 10 Business Days after the date of the
Mayfair Mall Purchase Notice, as shall be established by the Special Servicer.
The Purchase Price shall be calculated by the Special Servicer, three Business
Days prior to the Mayfair Mall Purchase Date and shall, absent manifest error,
be binding upon the Class MM Directing Certificateholder or the Mayfair Mall
Non-

                                    -191-
<PAGE>

Trust Companion Loan Holder, as applicable. The right of the Class MM
Directing Certificateholder, if no Mayfair Mall Change of Control Event then
exists, or the Series 2003-C4 Directing Certificateholder, if a Mayfair Mall
Change of Control Event has occurred and is then continuing, to purchase the
Mayfair Mall Trust Mortgage Loan under clause (i) of the first sentence of
this paragraph shall automatically terminate upon the expiration of the
applicable Mayfair Mall Cure Period. The right of the Class MM Directing
Certificateholder, if no Mayfair Mall Change of Control Event then exists, or
the Series 2003-C4 Directing Certificateholder, if a Mayfair Mall Change of
Control Event has occurred and is then continuing, to purchase the Mayfair
Mall Trust Mortgage Loan under clause (ii) of the first sentence of this
paragraph shall automatically terminate upon (a) 10 Business Days after
delivery of notification by the Special Servicer to the Class MM Directing
Certificateholder or the Series 2003-C4 Directing Certificateholder, as
applicable, of the Special Servicer's intention to sell the Mayfair Mall Trust
Mortgage Loan pursuant to Section 3.18 (if it is a Defaulted Trust Mortgage
Loan) or (b) a foreclosure sale, sale by power of sale or delivery of a deed
in lieu of foreclosure with respect to the related Mortgaged Property. In
addition, consistent with Section 3.9 of the Mayfair Mall Intercreditor
Agreement, the Class MM Directing Certificateholder, if no Mayfair Mall Change
of Control Event exists, or the Series 2003-C4 Directing Certificateholder, if
a Mayfair Mall Change of Control Event has occurred and is continuing, is
hereby designated as the Person (solely in its individual capacity, and not on
behalf of the Trust) entitled to exercise the purchase option of the holder of
the Mayfair Mall Trust Mortgage Loan with respect to the Mayfair Mall
Non-Trust Companion Loans, pursuant to Section 3.7.1 of the Mayfair Mall
Intercreditor Agreement, under circumstances similar to those contemplated by
the first sentence of this paragraph, among others, and the parties hereto
shall reasonably cooperate in connection with any exercise of that purchase
option.

          Notwithstanding the foregoing, the right of the Class MM Directing
Certificateholder, if no Mayfair Mall Change of Control Event then exists, or
the Series 2003-C4 Directing Certificateholder, if a Mayfair Mall Change of
Control Event has occurred and is then continuing, to purchase the Mayfair
Mall Trust Mortgage Loan under either of the two preceding paragraphs shall
automatically terminate upon any purchase of the Mayfair Mall Trust Mortgage
Loan pursuant to Section 3.18.

          The parties hereto acknowledge the purchase options of the
respective Mayfair Mall Non-Trust Companion Loan Holders (and/or their
respective designees and/or representatives) in respect of the Mayfair Mall
Trust Mortgage Loan pursuant to Section 3.6.1 and Section 3.6.2 of the Mayfair
Mall Intercreditor Agreement, and shall take such actions consistent with the
Mayfair Mall Intercreditor Agreement as are appropriate or reasonably
necessary to permit such purchase (including, in the case of the Special
Servicer, if the Mayfair Mall Trust Mortgage Loan is then a Specially Serviced
Trust Mortgage Loan, or the Master Servicer, if the Mayfair Mall Trust
Mortgage Loan is then a Performing Trust Mortgage Loan, the calculation of the
applicable Purchase Price and the collection of all amounts due in connection
with the subject purchase, including under Section 3.6.3 of the Mayfair Mall
Intercreditor Agreement). Upon its receipt of any notice from a Mayfair Mall
Companion Loan Holder or its designee expressing an intent to exercise any
such purchase option, each party hereto shall promptly forward a copy of such
notice to the Series 2003-C4 Directing Certificateholder and the Class MM
Directing Certificateholder.

          In connection with any purchase of the Mayfair Mall Trust Mortgage
Loan pursuant to or as contemplated by this Section 3.31(c), each of the
Master Servicer and the Special Servicer shall: (i) if it receives the related
Purchase Price and/or any other amounts payable in connection with the
purchase (including pursuant to Section 3.31(k) hereof or Section 3.6.3 of the
Mayfair Mall Intercreditor

                                    -192-
<PAGE>

Agreement), deposit the same in the Collection Account and so notify
the Trustee; and (ii) deliver the related Servicing File to the Person
effecting the purchase or its designee. In addition, upon its receipt of
notice that the related Purchase Price has been received and deposited in the
Collection Account, the Trustee shall: (i) deliver the Mortgage File to the
Person effecting the purchase or its designee; and (ii) execute and deliver
such endorsements, assignments and instruments of transfer as are necessary to
transfer to the Person effecting the purchase of the Mayfair Mall Trust
Mortgage Loan and the related Mortgage Loan Documents, without recourse,
representations or warranties.

          (d) The Master Servicer or the Special Servicer, as applicable,
based on their respective responsibilities, shall deliver to the Class MM
Directing Certificateholder, if no Mayfair Mall Change of Control Event then
exists, or the Series 2003-C4 Directing Certificateholder, if a Mayfair Mall
Change of Control Event has occurred and is then continuing, and each of the
Mayfair Mall Non-Trust Companion Loan Holders (or, in the case of any
particular Mayfair Mall Non-Trust Companion Loan Holder, up to three designees
and/or representatives thereof appointed in accordance with Section 3.9 of the
Mayfair Mall Intercreditor Agreement) notice of any monetary or non-monetary
default with respect to the Mayfair Mall Mortgage Loan Combination promptly
after a Servicing Officer of the Master Servicer or the Special Servicer, as
applicable, becomes aware of such default. Upon receipt of such notice, the
Class MM Directing Certificateholder, if no Mayfair Mall Change of Control
Event then exists, or the Series 2003-C4 Directing Certificateholder, if a
Mayfair Mall Change of Control Event has occurred and is then continuing, or
any Mayfair Mall Non-Trust Companion Loan Holder (or any designee or
representative thereof appointed pursuant to Section 3.9 of the Mayfair Mall
Intercreditor Agreement) shall have the right to cure defaults (each such cure
a "Mayfair Mall Cure Event") with respect to the Mayfair Mall Mortgage Loan
Combination, which (in the case of monetary defaults) shall include the
obligation to reimburse any related Advances and Advance Interest, within five
Business Days of receipt of notice with respect to a monetary default and
within 30 days of receipt of notice with respect to a non-monetary default
following the date of such notice (such period, the "Mayfair Mall Cure Period"
and, any payments made to effect any such cure, "Mayfair Mall Cure Payments"),
in any event as and to the extent permitted under, and subject to the
limitations imposed by, Sections 3.8.1, 3.8.2, 3.8.3 and 3.8.4 of the Mayfair
Mall Intercreditor Agreement. For purposes of effecting Mayfair Mall Cure
Events, the Class MM Directing Certificateholder, if no Mayfair Mall Change of
Control Event exists, and the Series 2003-C4 Directing Certificateholder, if a
Mayfair Mall Change of Control Event has occurred and is continuing, shall be
deemed designees of the Trust Fund, as holder of the Mayfair Mall Trust
Mortgage Loan, pursuant to Section 3.9 of the Mayfair Mall Intercreditor
Agreement; provided that the Class MM Directing Certificateholder or the
Series 2003-C4 Directing Certificateholder shall each be acting solely in its
individual capacity in effecting Mayfair Mall Cure Events. Notwithstanding the
foregoing, the making of a Mayfair Mall Cure Payment by any Person entitled to
do so shall not act as a waiver of any amounts due under the Mortgage Loan
Documents by the related Borrower.

          (e) Any decisions made by the Master Servicer or Special Servicer,
as applicable, with respect to the Mayfair Mall Mortgage Loan Combination
pursuant to and in accordance with the Servicing Standard and the other
provisions of this Agreement shall automatically be deemed to be reasonably
exercised for purposes of this Section 3.31 and this Agreement.

          (f) By its acceptance of a Certificate, each Certificateholder
confirms its understanding that the Class MM Directing Certificateholder may
take actions that favor the interests of the Holders of the Class MM
Certificates over the interests of the Holders of other Classes of

                                    -193-
<PAGE>

Certificates and that the Class MM Directing Certificateholder may have
special relationships and interests that conflict with those of Holders of
such other Classes of Certificates; and, absent willful misfeasance, bad
faith, negligence or negligent disregard of obligations or duties on the part
of the Class MM Directing Certificateholder, each Certificateholder agrees to
take no action against the Class MM Directing Certificateholder as a result of
such a special relationship or conflict.

          (g) The Master Servicer and the Special Servicer each shall provide
to each Mayfair Mall Non-Trust Companion Loan Holder or its designee, with
respect to its Mayfair Mall Non-Trust Companion Loan or any related REO
Property, the same reports, documents and other information that the Master
Servicer or the Special Servicer, as the case may be, provides to the Trustee
with respect to the Mayfair Mall Trust Mortgage Loan or any related REO
Property, and on a concurrent basis. The Trustee, the Master Servicer and the
Special Servicer each shall provide to each Mayfair Mall Non-Trust Companion
Loan Holder or its designee, with respect to its Mayfair Mall Non-Trust
Companion Loan or any related REO Property, the same reports, documents and
other information that the Trustee, the Master Servicer or the Special
Servicer, as the case may be, provides to the Series 2003-C4 Directing
Certificateholder with respect to the Mayfair Mall Trust Mortgage Loan or any
related REO Property, and on a concurrent basis. In addition, the Trustee, the
Master Servicer or the Special Servicer, as applicable, shall, upon receipt of
a written request, provide to each Mayfair Mall Non-Trust Companion Loan
Holder or its designee (at such holder's cost) all other reports, documents
and information that such holder or its designee may reasonably request with
respect to its Mayfair Mall Non-Trust Companion Loan or any related REO
Property. Notwithstanding the foregoing, none of the Trustee, the Master
Servicer or the Special Servicer shall be required to deliver to any Mayfair
Mall Non-Trust Companion Loan Holder or its designee any particular report,
document or other information pursuant to this Section 3.31(g) if and to the
extent that (but only if and to the extent that) such particular report,
document or other information is otherwise delivered to such Mayfair Mall
Non-Trust Companion Loan Holder pursuant to any other section of this
Agreement.

          (h) Each of the rights of the respective Mayfair Mall Non-Trust
Companion Loan Holders under or contemplated by this Section 3.31 shall be
assignable to, and/or exercisable by, a designee (and, where specifically
indicated, up to three designees) thereof; provided that the Master Servicer,
the Special Servicer and the Trustee are provided with written notice by the
assignor of such assignment and the contact details of the assignee.

          (i) The Trustee, the Master Servicer and the Special Servicer each
shall provide to the Class MM Directing Certificateholder, with respect to the
Mayfair Mall Trust Mortgage Loan or any related REO Property, the same
reports, documents and other information that the Trustee, the Master Servicer
or the Special Servicer, as the case may be, provides to the Series 2003-C4
Directing Certificateholder with respect to the Mayfair Mall Trust Mortgage
Loan or any related REO Property, and on a concurrent basis. Notwithstanding
the foregoing, none of the Trustee, the Master Servicer or the Special
Servicer shall be required to deliver to the Class MM Directing
Certificateholder any particular report, document or other information
pursuant to this Section 3.31(i) if and to the extent that (but only if and to
the extent that) such particular report, document or other information is
otherwise delivered to the Class MM Directing Certificateholder pursuant to
any other section of this Agreement.

          (j) Persons constituting a Mayfair Mall Control Group shall be
entitled to terminate the rights and obligations of the Mayfair Mall Special
Servicer under this Agreement, with or without cause, solely in respect of the
Mayfair Mall Mortgage Loan Combination and/or any related REO

                                    -194-
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Property, upon 10 Business Days prior written notice to the Master Servicer,
the Special Servicer and the Trustee, and to appoint a successor Mayfair Mall
Special Servicer; provided, however, that (i) such successor shall meet the
requirements set forth in Section 7.02, (ii) as evidenced in writing by each
of the Rating Agencies, the proposed replacement of the Mayfair Mall Special
Servicer shall not, in and of itself, result in a downgrading, withdrawal or
qualification of the then-current ratings provided by the Rating Agencies with
respect to any Class of then outstanding Certificates that is rated, and (iii)
the Trustee shall have received (A) an Acknowledgment of Proposed Special
Servicer substantially in the form attached hereto as Exhibit I, executed by
the Person designated to be the successor to such terminated Mayfair Mall
Special Servicer, and (B) an Opinion of Counsel (which shall not be an expense
of the Trustee or the Trust) substantially to the effect that (1) the removal
of such terminated Mayfair Mall Special Servicer and/or the appointment of the
Person designated to serve as successor thereto is in compliance with this
Section 3.31(j), (2) such designated Person is duly organized, validly
existing and in good standing under the laws of the jurisdiction of its
organization, (3) the applicable Acknowledgment of Proposed Special Servicer
has been duly authorized, executed and delivered by such designated Person and
(4) upon the execution and delivery of the applicable Acknowledgment of
Proposed Special Servicer, such designated Person shall be bound by the terms
of this Agreement and, subject to customary bankruptcy and insolvency
exceptions and customary equity exceptions, this Agreement shall be
enforceable against such designated Person in accordance with its terms. Any
Mayfair Mall Special Servicer terminated pursuant to this Section 3.31(j)
shall be deemed to have been so terminated simultaneously with the designated
successor's becoming such Mayfair Mall Special Servicer hereunder; provided
that (i) the terminated Mayfair Mall Special Servicer shall be entitled to
receive, in connection with its termination, payment out of the Collection
Account and, if and to the extent applicable, the Mayfair Mall Custodial
Account of all of its accrued and unpaid Special Servicing Fees in respect of
the Mayfair Mall Mortgage Loan Combination and/or any related REO Property, as
and to the extent provided in Sections 3.05(a) and 3.04(f), and reimbursement
from the successor to such terminated Mayfair Mall Special Servicer of all
outstanding Servicing Advances made by such terminated Mayfair Mall Special
Servicer in respect of the Mayfair Mall Mortgage Loan Combination and/or any
related REO Property and all unpaid Advance Interest accrued on such
outstanding Servicing Advances (in which case the successor to such terminated
Mayfair Mall Special Servicer shall be deemed to have made such Servicing
Advances at the same time that such terminated Mayfair Mall Special Servicer
had actually made them), (ii) such terminated Special Servicer shall
thereafter be entitled to any Workout Fees in respect of the Mayfair Mall
Mortgage Loan Combination, as and to the extent expressly permitted by Section
3.11(b), and (iii) such terminated Mayfair Mall Special Servicer shall
continue to be entitled to the benefits of Section 6.03, notwithstanding any
such termination; and provided, further, that such terminated Mayfair Mall
Special Servicer shall continue to be obligated to pay (and entitled to
receive) all other amounts accrued to (or owing by) it under this Agreement on
or prior to the effective date of such termination. Such terminated Mayfair
Mall Special Servicer shall cooperate with the Trustee and the replacement to
such terminated Mayfair Mall Special Servicer in effecting the transfer of
such terminated Mayfair Mall Special Servicer's responsibilities and rights
hereunder to its successor, including the transfer within two Business Days of
its termination becoming effective pursuant to this Section 3.31(j), to the
replacement to such terminated Mayfair Mall Special Servicer for
administration by it of all cash amounts that at the time are or should have
been credited by such terminated Mayfair Mall Special Servicer to the REO
Account or to any Servicing Account or should have been delivered to the
Master Servicer or that are thereafter received by or on behalf of such
terminated Mayfair Mall Special Servicer, in any event with respect to the
Mayfair Mall Mortgage Loan Combination or any related REO Property. No penalty
or fee shall be payable to the Mayfair Mall Special Servicer with respect to
any termination pursuant to this Section 3.31(j). Any expenses of the

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Trust as a result of any termination pursuant to this Section 3.31(j) shall be
paid by the Persons who effected such termination.

          With respect to the matters contemplated by this Section 3.31(j) and
Section 3.1.3 of the Mayfair Mall Intercreditor Agreement, the Series 2003-C4
Directing Certificateholder is hereby designated, on behalf of the Trust Fund,
as holder of the Mayfair Mall Trust Mortgage Loan, to exercise the rights of
the holder of the Mayfair Mall Trust Mortgage Loan or any successor REO Trust
Mortgage Loan with respect thereto and to constitute part of a Mayfair Mall
Control Group.

          (k) If the Class MM Directing Certificateholder or the Series
2003-C4 Directing Certificateholder purchases the Mayfair Mall Trust Mortgage
Loan pursuant to Section 3.31(c), or if any Person purchases the Mayfair Mall
Trust Mortgage Loan as a Defaulted Trust Mortgage Loan pursuant to Section
3.18, then the Person effecting the purchase must also pay and/or reimburse to
the Master Servicer, the Special Servicer, the Trustee and the Depositor the
respective amounts due and owing to them hereunder with respect to the Mayfair
Mall Non-Trust Companion Loans and that, pursuant to the Mayfair Mall
Intercreditor Agreement, would otherwise have been payable out of future
collections on the Mayfair Mall Non-Trust Companion Loans. Notwithstanding
anything herein to the contrary, any such purchase shall be subject to such
reimbursements.

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<PAGE>

                                  ARTICLE IV

                       PAYMENTS TO CERTIFICATEHOLDERS

          SECTION 4.01. Distributions.

          (a) On each Distribution Date, the Trustee shall apply amounts on
deposit in the Distribution Account for the following purposes and in the
following order of priority, in each case to the extent of the remaining
portion of the Net Available Distribution Amount for such Distribution Date:

          first, concurrently, (i) from that portion of such Net Available
     Distribution Amount attributable to Loan Group No. 1, distributions of
     interest to the Holders of the Class A-1, Class A-2, Class A-3 and Class
     A-4 Certificates, up to, and pro rata as among such Classes in accordance
     with, the respective Interest Distribution Amounts in respect of such
     Classes of Certificates for such Distribution Date, (ii) from that
     portion of such Net Available Distribution Amount attributable to Loan
     Group No. 2, distributions of interest to the Holders of the Class A-1-A
     Certificates, up to the Interest Distribution Amount in respect of such
     Class of Certificates for such Distribution Date, and (iii) from the
     entire such Net Available Distribution Amount, distributions of interest
     to the Holders of the Class A-X and Class A-SP Certificates, up to, and
     pro rata as between such Classes in accordance with, the respective
     Interest Distribution Amounts in respect of such Classes of Certificates
     for such Distribution Date; provided, however, that if the Net Available
     Distribution Amount for any Distribution Date (or the portion thereof
     attributable to either Loan Group) is insufficient to pay in full the
     Interest Distribution Amount, as provided above, payable in respect of
     any Class of Senior Certificates on such Distribution Date, then the
     entire Net Available Distribution Amount shall be applied to make
     distributions of interest to the Holders of the respective Classes of the
     Senior Certificates, up to, and pro rata as among such Classes in
     accordance with, the respective Interest Distribution Amounts in respect
     of such Classes of Certificates for such Distribution Date;

          second, to make distributions of principal to the Holders of the
     respective Classes of the Class A-P&I Certificates, in the following
     amounts and order of priority:

            (i) to the Holders of the Class A-1-A Certificates, up to an amount
     (not to exceed the Class Principal Balance of the Class A-1-A
     Certificates outstanding immediately prior to such Distribution Date)
     equal to the portion of the Net Total Principal Distribution Amount for
     such Distribution Date that is attributable to Loan Group No. 2;

            (ii) to the Holders of the Class A-1 Certificates, up to an amount
     (not to exceed the Class Principal Balance of the Class A-1 Certificates
     outstanding immediately prior to such Distribution Date) equal to the
     entire Net Total Principal Distribution Amount for such Distribution Date
     (net of any portion thereof distributed on such Distribution Date to the
     Holders of the Class A-1-A Certificates pursuant to subclause (i) of this
     clause second);

            (iii) to the Holders of the Class A-2 Certificates, up to an amount
     (not to exceed the Class Principal Balance of the Class A-2 Certificates
     outstanding immediately prior to such Distribution Date) equal to the
     entire Net Total Principal Distribution Amount for such Distribution Date
     (net of any portion thereof distributed on such Distribution Date to the
     Holders

                                    -197-
<PAGE>

     of any other Class of Class A-P&I Certificates pursuant to a
     prior subclause of this clause second);

            (iv) to the Holders of the Class A-3 Certificates, up to an amount
     (not to exceed the Class Principal Balance of the Class A-3 Certificates
     outstanding immediately prior to such Distribution Date) equal to the
     entire Net Total Principal Distribution Amount for such Distribution Date
     (net of any portion thereof distributed on such Distribution Date to the
     Holders of any other Class of Class A-P&I Certificates pursuant to a
     prior subclause of this clause second);

             (v) to the Holders of the Class A-4 Certificates, up to an amount
     (not to exceed the Class Principal Balance of the Class A-4 Certificates
     outstanding immediately prior to such Distribution Date) equal to the
     entire Net Total Principal Distribution Amount for such Distribution Date
     (net of any portion thereof distributed on such Distribution Date to the
     Holders of any other Class of Class A-P&I Certificates pursuant to a
     prior subclause of this clause second); and

            (vi) to the Holders of the Class A-1-A Certificates, up to an amount
     (not to exceed the Class Principal Balance of the Class A-1-A
     Certificates outstanding immediately prior to such Distribution Date, net
     of any distributions of principal made with respect to the Class A-1-A
     Certificates on such Distribution Date pursuant to subclause (i) of this
     clause second), up to an amount equal to the entire Net Total Principal
     Distribution Amount for such Distribution Date (net of any portion
     thereof distributed on such Distribution Date to the Holders of the Class
     A-1-A Certificates pursuant to subclause (i) of this clause second and/or
     to the Holders of any other Class of Class A-P&I Certificates pursuant to
     subclause (ii), subclause (iii), subclause (iv) and/or subclause (v) of
     this clause second);

     provided, however, that, notwithstanding the immediately preceding
     clauses (i) through (vi), on each Distribution Date coinciding with or
     following the Senior Principal Distribution Cross-Over Date, and in
     any event on the Final Distribution Date, the Trustee shall make
     distributions of principal to the Holders of the respective Classes of
     the Class A-P&I Certificates, on a pro rata basis, in accordance with
     the respective Class Principal Balances of those Classes outstanding
     immediately prior to such Distribution Date, until the Class Principal
     Balance of each such Class has been reduced to zero, in an aggregate
     amount equal to the entire Net Total Principal Distribution Amount for
     such Distribution Date; and

          third, to reimburse the Holders of the respective Classes of the
     Class A-P&I Certificates for any Unfunded Principal Balance Reductions
     previously incurred thereby, up to, and pro rata as among such Classes of
     Certificateholders in accordance with, the respective Loss Reimbursement
     Amounts in respect of such Classes of Certificates for such Distribution
     Date.

          Any and all distributions of accrued interest made with respect to
each Class of Interest Only Certificates on each Distribution Date pursuant to
clause first of the prior paragraph of this Section 4.01(a) shall be deemed
allocated among the respective Components of such Class of Certificates on a
pro rata basis in accordance with the respective Interest Distribution Amounts
of such Components for such Distribution Date.

                                    -198-
<PAGE>

          (b) On each Distribution Date, following the distributions on the
Senior Certificates to be made on such date pursuant to Section 4.01(a), the
Trustee shall apply any amounts remaining on deposit in the Distribution
Account to make distributions to the Holders of the respective Classes of the
Subordinate Principal Balance Certificates (exclusive of the Class MM
Certificates), in the following order and, in the case of each such Class of
Subordinate Principal Balance Certificates, up to the lesser of (i) the total
of the Interest Distribution Amount, the Class Principal Distribution Amount
and the Loss Reimbursement Amount with respect to such Class of Certificates
for such Distribution Date and (ii) the remaining portion of the Net Available
Distribution Amount for such Distribution Date: first, to the Holders of the
Class B Certificates; second, to the Holders of the Class C Certificates;
third, to the Holders of the Class D Certificates; fourth, to the Holders of
the Class E Certificates; fifth, to the Holders of the Class F Certificates;
sixth, to the Holders of the Class G Certificates; seventh, to the Holders of
the Class H Certificates; eighth, to the Holders of the Class J Certificates;
ninth, to the Holders of the Class K Certificates; tenth, to the Holders of
the Class L Certificates; eleventh, to the Holders of the Class M
Certificates; twelfth, to the Holders of the Class N Certificates; thirteenth,
to the Holders of the Class O Certificates; and fourteenth, to the Holders of
the Class P Certificates.

          On each Distribution Date, following the distributions on the other
REMIC III Regular Interest Certificates to be made on such date pursuant to
Section 4.01(a) and the first paragraph of this Section 4.01(b), the Trustee
shall withdraw from the Distribution Account and pay to the Class MM
Certificateholders the Class MM Available Distribution Amount.

          Amounts distributable to the Holders of any Class of Subordinate
Principal Balance Certificates on any Distribution Date pursuant to this
Section 4.01(b) shall be applied:

               first, to make distributions of interest to the Holders of such
        Class of Certificates, up to the Interest Distribution Amount in
        respect of such Class of Certificates for such Distribution Date;

               second, to make distributions of principal to the Holders of
        such Class of Certificates, up to the Class Principal Distribution
        Amount in respect of such Class of Certificates for such Distribution
        Date; and

               third, to reimburse the Holders of such Class of Certificates
        for any Unfunded Principal Balance Reductions previously incurred
        thereby, up to the Loss Reimbursement Amount in respect of such Class
        of Certificates for such Distribution Date.

          (c) On each Distribution Date, following the distributions on the
REMIC III Regular Interest Certificates to be made on such date pursuant to
Sections 4.01(a) and 4.01(b), the Trustee shall withdraw any portion of the
Available Distribution Amount for such Distribution Date then remaining on
deposit in the Distribution Account and shall distribute the full amount of
such remaining funds to the Holders of the Class R Certificates.

          (d) On each Distribution Date, the Trustee shall withdraw from the
Distribution Account and apply, for the following purposes and in the
following order of priority, any amount then on deposit in the Distribution
Account that represents a Yield Maintenance Charge collected with respect to
any Trust Mortgage Loan or deemed collected with respect to any REO Trust
Mortgage Loan during the related Collection Period (exclusive of any
Liquidation Fee payable therefrom and, if

                                    -199-
<PAGE>

received on the Mayfair Mall Trust Mortgage Loan or any successor
REO Trust Mortgage Loan with respect thereto, exclusive of any portion thereof
payable on the Class MM Certificates):

               first, to make distributions of additional interest to the
        Holders of the respective Classes of the Yield Maintenance
        Certificates that are entitled to distributions of principal from the
        portion of the Net Total Principal Distribution Amount that is
        attributable to the Loan Group that includes the subject Trust
        Mortgage Loan or REO Trust Mortgage Loan, as the case may be, up to,
        and pro rata as among such Classes of Certificateholders based on,
        their respective applicable Additional Yield Amounts; and

               second, to make distributions of additional interest to the
        Holders of the Class A-X Certificates and/or the Holders of the Class
        A-SP Certificates, as follows--

               (i) if such Distribution Date as one of the first 37
        Distribution Dates and the Class Notional Amount of the Class A-SP
        Certificates has not been reduced to zero prior to such Distribution
        Date, then to the Holders of the Class A-X Certificates and the
        Holders of the Class A-SP Certificates, up to 86.50% and 13.50%,
        respectively, of the remaining portion of such Yield Maintenance
        Charge, and

              (ii) otherwise, to the Holders of the Class A-X Certificates,
        up to 100% of the remaining portion of such Yield Maintenance
        Charge.

          If any Yield Maintenance Charge is received with respect to the
Mayfair Mall Trust Mortgage Loan or any successor REO Trust Mortgage Loan with
respect thereto during any Collection Period, then the Trustee shall withdraw
from the Distribution Account and distribute to the Holders of the Class MM
Certificates, on the related Distribution Date, that portion of such Yield
Maintenance Charge equal to the product of: (i) the amount of such Yield
Maintenance Charge (exclusive of any Liquidation Fee payable therefrom);
multiplied by (ii) one minus a fraction (not greater than one or less than
zero), the numerator of which is the portion of the subject principal
prepayment included in the Net Total Principal Distribution Amount for the
related Distribution Date, and the denominator of which is the entire amount
of such subject principal prepayment.

          For purposes of determining the portion of any Yield Maintenance
Charge on any Trust Mortgage Loan or REO Trust Mortgage Loan that is
distributable to the Holders of any Class of Yield Maintenance Certificates on
any Distribution Date, the applicable "Additional Yield Amount" shall be an
amount equal to the product of: (i) the amount of such Yield Maintenance
Charge (exclusive of any Liquidation Fee payable therefrom and, if received on
the Mayfair Mall Trust Mortgage Loan or any successor REO Trust Mortgage Loan
with respect thereto, exclusive of any portion thereof payable on the Class MM
Certificates); multiplied by (ii) a fraction (not greater than one or less
than zero), the numerator of which is equal to the excess, if any, of (A) the
Pass-Through Rate applicable to such Class of Yield Maintenance Certificates
for the corresponding Interest Accrual Period, over (B) the relevant Discount
Rate, and the denominator of which is equal to the excess, if any, of (X) the
Mortgage Rate for the Trust Mortgage Loan or REO Trust Mortgage Loan in
respect of which such Yield Maintenance Charge was received or deemed
received, over (Y) the relevant Discount Rate; multiplied by (iii) a fraction
(not greater than one or less than zero), the numerator of which is equal to
the total distributions of principal made with respect to such Class of Yield
Maintenance Certificates on such Distribution Date from the portion of the Net
Total Principal Distribution Amount for such Distribution Date attributable to
the Loan Group that includes the Trust Mortgage Loan or REO Trust Mortgage
Loan in

                                    -200-
<PAGE>

respect of which such Yield Maintenance Charge was received or deemed
received, and the denominator of which is equal to the portion of the Net
Total Principal Distribution Amount for such Distribution Date attributable to
the Loan Group that includes the Trust Mortgage Loan or REO Trust Mortgage
Loan in respect of which such Yield Maintenance Charge was received.

          For purposes of determining the portion of any Yield Maintenance
Charge on any Trust Mortgage Loan or REO Trust Mortgage Loan that is
distributable to the Holders of any Class of Yield Maintenance Certificates on
any Distribution Date, the relevant "Discount Rate" shall be the same discount
rate (exclusive of any applicable spread) used to calculate such Yield
Maintenance Charge, with such discount rate (exclusive of any applicable
spread) converted to a monthly equivalent rate (regardless of whether any
similar conversion occurred at the loan level). If the Master Servicer remits
to the Trustee any Yield Maintenance Charge with respect to a Collection
Period, the relevant Discount Rate shall be provided by the Master Servicer to
the Trustee by 1:00 p.m., New York City time, on the second Business Day
preceding the related Distribution Date.

          Any distributions of additional interest, in the form of Yield
Maintenance Charges, made with respect to any Class of Interest Only
Certificates on any Distribution Date pursuant to this Section 4.01(d) shall
be allocated among the respective Components of such Class of Interest Only
Certificates on a pro rata basis in accordance with the relative amounts by
which their respective Component Notional Amounts declined as a result of
deemed distributions of principal on the REMIC II Regular Interests on such
Distribution Date pursuant to Section 4.01(k) (or, if there were no such
declines, then on a pro rata basis in accordance with the relative sizes of
their respective Component Notional Amounts).

          (e) On each Distribution Date, the Trustee shall withdraw from the
Excess Interest Distribution Account any amounts then on deposit therein that
represent Excess Interest collected or deemed collected in respect of the ARD
Trust Mortgage Loans or any successor REO Trust Mortgage Loans with respect
thereto during the related Collection Period and shall distribute such amounts
to the Holders of the Class V Certificates.

          (f) All distributions made with respect to each Class of
Certificates on each Distribution Date shall be allocated pro rata among the
Holders of such Certificates based on their respective Percentage Interests.
Except as otherwise provided below, all such distributions made with respect
to each Class of Certificates on each Distribution Date shall be made to the
Holders of such Certificates of record at the close of business on the related
Record Date and, in the case of each such Holder, shall be made by wire
transfer of immediately available funds to the account thereof at a bank or
other entity having appropriate facilities therefor, if such Holder shall have
provided the Trustee with wiring instructions no later than the related Record
Date (which wiring instructions may be in the form of a standing order
applicable to all subsequent Distribution Dates), and otherwise shall be made
by check mailed to the address of such Holder as it appears in the Certificate
Register. The final distribution on each Certificate (determined, in the case
of a Principal Balance Certificate, without regard to any possible future
reimbursement of any portion of a previously incurred Unfunded Principal
Balance Reduction allocable to such Certificate) will be made in like manner,
but only upon presentation and surrender of such Certificate at the offices of
the Certificate Registrar or such other location specified in the notice to
Certificateholders of such final distribution. Any distribution that is to be
made with respect to a Principal Balance Certificate in reimbursement of any
portion of an Unfunded Principal Balance Reduction allocable to such
Certificate, which reimbursement is to occur after the date on

                                    -201-
<PAGE>

which such Certificate is surrendered as contemplated by the preceding
sentence, will be made by check mailed to the Holder that surrendered such
Certificate at the last address set forth for such Holder in the Certificate
Register or at any other address of which the Trustee was subsequently
notified in writing.

          (g) Each distribution with respect to a Book-Entry Certificate shall
be paid to the Depository, as Holder thereof, and the Depository shall be
responsible for crediting the amount of such distribution to the accounts of
its Depository Participants in accordance with its normal procedures. Each
Depository Participant shall be responsible for disbursing such distribution
to the related Certificate Owners that it represents and to each indirect
participating brokerage firm for which it acts as agent. Each such indirect
participating brokerage firm shall be responsible for disbursing funds to the
related Certificate Owners that it represents. None of the parties hereto
shall have any responsibility therefor except as otherwise provided by this
Agreement or applicable law. The Trustee and the Depositor shall perform their
respective obligations under the respective Letters of Representations Among
the Depositor, the Trustee and the Initial Depository, relating to the REMIC
III Regular Interest Certificates.

          (h) The rights of the Certificateholders to receive distributions
from the proceeds of the Trust Fund in respect of their Certificates, and all
rights and interests of the Certificateholders in and to such distributions,
shall be as set forth in this Agreement. Neither the Holders of any Class of
Certificates nor any party hereto shall in any way be responsible or liable to
the Holders of any other Class of Certificates in respect of amounts
previously distributed on the Certificates in accordance with this Agreement.

          (i) Except as otherwise provided in Section 9.01, whenever the
Trustee expects that the final distribution with respect to any Class of
Certificates will be made on the next Distribution Date (such final
distribution to be determined, in the case of a Class of Principal Balance
Certificates, without regard to any possible future reimbursement of any
portion of a previously incurred Unfunded Principal Balance Reduction in
respect of such Class), the Trustee shall, as promptly as possible (and, in
any event, no later than three Business Days) after the related Determination
Date, mail to each Holder of such Class of Certificates of record on such date
a notice to the effect that:

               (i) the Trustee expects that the final distribution with
          respect to such Class of Certificates will be made on such
          Distribution Date but only upon presentation and surrender of such
          Certificates at the office of the Certificate Registrar or at such
          other location therein specified, and

              (ii) no interest shall accrue on such Certificates from and
          after the end of the Interest Accrual Period for such Distribution
          Date.

          Any funds not distributed to any Holder or Holders of Certificates
of such Class on such Distribution Date because of the failure of such Holder
or Holders to tender their Certificates shall, on such date, be set aside and
credited to, and shall be held uninvested in trust in, the account or accounts
of the appropriate non-tendering Holder or Holders. If any Certificates as to
which notice has been given pursuant to this Section 4.01(i) shall not have
been surrendered for cancellation within six months after the time specified
in such notice, the Trustee shall mail a second notice to the remaining
non-tendering Certificateholders to surrender their Certificates for
cancellation in order to receive the final distribution with respect thereto.
If within one year after the second notice all such Certificates shall not
have been surrendered for cancellation, then the Trustee, directly or through
an agent, shall take such steps to

                                    -202-
<PAGE>

contact the remaining non-tendering Certificateholders concerning
the surrender of their Certificates as it shall deem appropriate. The costs
and expenses of holding such funds in trust and of contacting such
Certificateholders following the first anniversary of the delivery of such
second notice to the non-tendering Certificateholders shall be paid out of
such funds. No interest shall accrue or be payable to any former Holder on any
amount held in trust pursuant to this paragraph. If any Certificates as to
which notice has been given pursuant to this Section 4.01(i), shall not have
been surrendered for cancellation by the second anniversary of the delivery of
the second notice, then, subject to applicable escheat laws, the Trustee shall
distribute to the Class R Certificateholders all unclaimed funds.

          (j) Notwithstanding any other provision of this Agreement, the
Trustee shall comply with all federal withholding requirements respecting
payments to Certificateholders of interest or original issue discount that the
Trustee reasonably believes are applicable under the Code. The consent of
Certificateholders shall not be required for such withholding. If the Trustee
does withhold any amount from payments or advances of interest or original
issue discount to any Certificateholder pursuant to federal withholding
requirements, the Trustee shall indicate the amount withheld to such
Certificateholder.

          (k) All distributions of accrued interest made with respect to each
Class of Interest Only Certificates on each Distribution Date pursuant to
clause first of the first paragraph of Section 4.01(a), and allocable to any
particular Component of such Class of Certificates, shall be deemed to have
first been distributed from REMIC II to REMIC III on such Distribution Date as
accrued interest with respect to such Component's Corresponding REMIC II
Regular Interest as part of such REMIC II Regular Interest's Interest
Distribution Amount for such Distribution Date. In addition, all distributions
of additional interest (in the form of Yield Maintenance Charges) made with
respect to each Class of Interest Only Certificates on each Distribution Date
pursuant to Section 4.01(d), and allocable to any particular Component of such
Class of Certificates, shall be deemed to have first been distributed from
REMIC II to REMIC III on such Distribution Date as additional interest (in the
form of Yield Maintenance Charges) with respect to such Component's
Corresponding REMIC II Regular Interest.

          All distributions made with respect to each Class of Principal
Balance Certificates on each Distribution Date pursuant to Section 4.01(a),
Section 4.01(b) or Section 4.01(d) shall be deemed to have first been
distributed from REMIC II to REMIC III on such Distribution Date with respect
to the Corresponding REMIC II Regular Interest(s) for such Class of
Certificates. In each case, if such distribution on any such Class of
Principal Balance Certificates was a distribution of accrued interest (as part
of the related Interest Distribution Amount for the subject Distribution
Date), of principal, of additional interest (in the form of Yield Maintenance
Charges) or in reimbursement of any related Unfunded Principal Balance
Reductions with respect to such Class of Certificates, then the corresponding
distribution deemed to be made on the Corresponding REMIC II Regular
Interest(s) for such Class of Certificates pursuant to the preceding sentence
shall be deemed also to be a distribution of accrued interest (as part of the
Interest Distribution Amount(s) for such REMIC II Regular Interest(s) for the
subject Distribution Date), of principal, of additional interest (in the form
of Yield Maintenance Charges) or in reimbursement of any related Unfunded
Principal Balance Reductions with respect to such REMIC II Regular
Interest(s).

          Each Class of Principal Balance Certificates shall have one
Corresponding REMIC II Regular Interest, except for the Class A-1-A
Certificates, which shall have eight Corresponding REMIC II Regular Interests,
the Class A-1 Certificates, which shall have three Corresponding REMIC II
Regular

                                    -203-
<PAGE>

Interests, the Class A-2 Certificates, which shall have three
Corresponding REMIC II Regular Interests, and the Class A-4 Certificates,
which shall have four Corresponding REMIC II Regular Interests.

          Deemed distributions of accrued interest made on REMIC II Regular
Interest A-1-A-1, REMIC II Regular Interest A-1-A-2, REMIC II Regular Interest
A-1-A-3, REMIC II Regular Interest A-1-A-4, REMIC II Regular Interest A-1-A-5,
REMIC II Regular Interest A-1-A-6, REMIC II Regular Interest A-1-A-7 and REMIC
II Regular Interest A-1-A-8 shall be allocated among those eight REMIC II
Regular Interests on a pro rata basis in accordance with their respective
Interest Distribution Amounts for the subject Distribution Date. Deemed
distributions of principal made on REMIC II Regular Interest A-1-A-1, REMIC II
Regular Interest A-1-A-2, REMIC II Regular Interest A-1-A-3, REMIC II Regular
Interest A-1-A-4, REMIC II Regular Interest A-1-A-5, REMIC II Regular Interest
A-1-A-6, REMIC II Regular Interest A-1-A-7 and REMIC II Regular Interest
A-1-A-8 shall be allocated to REMIC II Regular Interest A-1-A-1, REMIC II
Regular Interest A-1-A-2, REMIC II Regular Interest A-1-A-3, REMIC II Regular
Interest A-1-A-4, REMIC II Regular Interest A-1-A-5, REMIC II Regular Interest
A-1-A-6, REMIC II Regular Interest A-1-A-7 and REMIC II Regular Interest
A-1-A-8, in that order, in each case until its Uncertificated Principal
Balance is reduced to zero. Deemed distributions of additional interest (in
the form of Yield Maintenance Charges) made on REMIC II Regular Interest
A-1-A-1, REMIC II Regular Interest A-1-A-2, REMIC II Regular Interest A-1-A-3,
REMIC II Regular Interest A-1-A-4, REMIC II Regular Interest A-1-A-5, REMIC II
Regular Interest A-1-A-6, REMIC II Regular Interest A-1-A-7 and REMIC II
Regular Interest A-1-A-8 shall be allocated among those eight REMIC II Regular
Interests on a pro rata basis in accordance with the respective amounts of
principal deemed made on such REMIC II Regular Interest on the subject
Distribution Date. Deemed distributions in reimbursement of Unfunded Principal
Balance Reductions made on REMIC II Regular Interest A-1-A-1, REMIC II Regular
Interest A-1-A-2, REMIC II Regular Interest A-1-A-3, REMIC II Regular Interest
A-1-A-4, REMIC II Regular Interest A-1-A-5, REMIC II Regular Interest A-1-A-6,
REMIC II Regular Interest A-1-A-7 and REMIC II Regular Interest A-1-A-8 shall
be allocated among those eight REMIC II Regular Interests on a pro rata basis
in accordance with their respective Loss Reimbursement Amounts for the subject
Distribution Date.

          Deemed distributions of accrued interest made on REMIC II Regular
Interest A-1-1, REMIC II Regular Interest A-1-2 and REMIC II Regular Interest
A-1-3 shall be allocated among those three REMIC II Regular Interests on a pro
rata basis in accordance with their respective Interest Distribution Amounts
for the subject Distribution Date. Deemed distributions of principal made on
REMIC II Regular Interest A-1-1, REMIC II Regular Interest A-1-2 and REMIC II
Regular Interest A-1-3 shall be allocated to REMIC II Regular Interest A-1-1,
REMIC II Regular Interest A-1-2 and REMIC II Regular Interest A-1-3, in that
order, in each case until its Uncertificated Principal Balance is reduced to
zero. Deemed distributions of additional interest (in the form of Yield
Maintenance Charges) made on REMIC II Regular Interest A-1-1, REMIC II Regular
Interest A-1-2 and REMIC II Regular Interest A-1-3 shall be allocated among
those three REMIC II Regular Interests on a pro rata basis in accordance with
the respective amounts of principal deemed made on such REMIC II Regular
Interest on the subject Distribution Date. Deemed distributions in
reimbursement of Unfunded Principal Balance Reductions made on REMIC II
Regular Interest A-1-1, REMIC II Regular Interest A-1-2 and REMIC II Regular
Interest A-1-3 shall be allocated among those three REMIC II Regular Interests
on a pro rata basis in accordance with their respective Loss Reimbursement
Amounts for the subject Distribution Date.

                                    -204-
<PAGE>

          Deemed distributions of accrued interest made on REMIC II Regular
Interest A-2-1, REMIC II Regular Interest A-2-2 and REMIC II Regular Interest
A-2-3 shall be allocated among those three REMIC II Regular Interests on a pro
rata basis in accordance with their respective Interest Distribution Amounts
for the subject Distribution Date. Deemed distributions of principal made on
REMIC II Regular Interest A-2-1, REMIC II Regular Interest A-2-2 and REMIC II
Regular Interest A-2-3 shall be allocated to REMIC II Regular Interest A-2-1,
REMIC II Regular Interest A-2-2 and REMIC II Regular Interest A-2-3, in that
order, in each case until its Uncertificated Principal Balance is reduced to
zero. Deemed distributions of additional interest (in the form of Yield
Maintenance Charges) made on REMIC II Regular Interest A-2-1, REMIC II Regular
Interest A-2-2 and REMIC II Regular Interest A-2-3 shall be allocated among
those three REMIC II Regular Interests on a pro rata basis in accordance with
the respective amounts of principal deemed made on such REMIC II Regular
Interest on the subject Distribution Date. Deemed distributions in
reimbursement of Unfunded Principal Balance Reductions made on REMIC II
Regular Interest A-2-1, REMIC II Regular Interest A-2-2 and REMIC II Regular
Interest A-2-3 shall be allocated among those three REMIC II Regular Interests
on a pro rata basis in accordance with their respective Loss Reimbursement
Amounts for the subject Distribution Date.

          Deemed distributions of accrued interest made on REMIC II Regular
Interest A-4-1, REMIC II Regular Interest A-4-2, REMIC II Regular Interest
A-4-3 and REMIC II Regular Interest A-4-4 shall be allocated among those four
REMIC II Regular Interests on a pro rata basis in accordance with their
respective Interest Distribution Amounts for the subject Distribution Date.
Deemed distributions of principal made on REMIC II Regular Interest A-4-1,
REMIC II Regular Interest A-4-2, REMIC II Regular Interest A-4-3 and REMIC II
Regular Interest A-4-4 shall be allocated to REMIC II Regular Interest A-4-1
and REMIC II Regular Interest A-4-2, REMIC II Regular Interest A-4-3 and REMIC
II Regular Interest A-4-4, in that order, in each case until its
Uncertificated Principal Balance is reduced to zero. Deemed distributions of
additional interest (in the form of Yield Maintenance Charges) made on REMIC
II Regular Interest A-4-1, REMIC II Regular Interest A-4-2, REMIC II Regular
Interest A-4-3 and REMIC II Regular Interest A-4-4 shall be allocated among
those four REMIC II Regular Interests on a pro rata basis in accordance with
the respective amounts of principal deemed made on such REMIC II Regular
Interest on the subject Distribution Date. Deemed distributions in
reimbursement of Unfunded Principal Balance Reductions made on REMIC II
Regular Interest A-4-1, REMIC II Regular Interest A-4-2, REMIC II Regular
Interest A-4-3 and REMIC II Regular Interest A-4-4 shall be allocated among
those four REMIC II Regular Interests on a pro rata basis in accordance with
their respective Loss Reimbursement Amounts A-4 for the subject Distribution
Date.

          The actual distributions made by the Trustee on each Distribution
Date with respect to the Certificates pursuant to Section 4.01(a), Section
4.01(b), Section 4.01(c) (to the extent such distributions relate to the REMIC
III Residual Interest) or Section 4.01(d), as applicable, shall be deemed to
have been so made from the amounts deemed distributed with respect to the
REMIC II Regular Interests on such Distribution Date pursuant to this Section
4.01(k). Notwithstanding the deemed distributions on the REMIC II Regular
Interests described in this Section 4.01(k), actual distributions of funds
from the Distribution Account shall be made only in accordance with Section
4.01(a), Section 4.01(b), Section 4.01(c), Section 4.01(d) or Section 4.01(e),
as applicable.

          (l) On each Distribution Date, immediately prior to making any
actual distributions on the Certificates pursuant to Section 4.01(a), Section
4.01(b) or Section 4.01(c), or the corresponding deemed distributions on the
REMIC II Regular Interests pursuant to Section 4.01(k), the Trustee shall be

                                    -205-
<PAGE>

deemed to have made (or, in the case of clause seventh below, shall actually
make) out of that portion of the Available Distribution Amount for such
Distribution Date that is attributable to the Mayfair Mall Trust Mortgage Loan
or any related REO Property, the following distributions to REMIC II and,
solely in the case of clause seventh below, the Class MM Directing
Certificateholder, the Series 2003-C4 Directing Certificateholder and/or any
Mayfair Mall Non-Trust Companion Loan Holder(s), as applicable, in the
following order of priority, in each case to the extent of the remaining
portion of the Available Distribution Amount for such Distribution Date that
is attributable to the Mayfair Mall Trust Mortgage Loan or any related REO
Property:

               first, distributions to REMIC II of accrued interest with
        respect to REMIC I Regular Interest MM-1, up to its Interest
        Distribution Amount for such Distribution Date;

               second, distributions to REMIC II of principal with respect to
        REMIC I Regular Interest MM-1, up to the lesser of (i) the
        Uncertificated Principal Balance of REMIC I Regular Interest MM-1
        immediately prior to such Distribution Date and (ii) either (A) if no
        Mayfair Mall Payment Trigger Event has occurred and is continuing and
        if such Distribution Date is not the Final Distribution Date, the
        product of (1) a fraction, the numerator of which is the
        Uncertificated Principal Balance of REMIC I Regular Interest MM-1
        immediately prior to such Distribution Date, and the denominator of
        which is the aggregate Uncertificated Principal Balance of REMIC I
        Regular Interest MM-1 and REMIC I Regular Interest MM-2 immediately
        prior to such Distribution Date, multiplied by (2) the portion of the
        Total Principal Distribution Amount for such Distribution Date
        allocable to the Mayfair Mall Trust Mortgage Loan or any successor REO
        Trust Mortgage Loan with respect thereto, or (B) if an Mayfair Mall
        Payment Trigger Event has occurred and is continuing or if such
        Distribution Date is the Final Distribution Date, the entire portion
        of the Total Principal Distribution Amount for such Distribution Date
        allocable to the Mayfair Mall Trust Mortgage Loan or any successor REO
        Trust Mortgage Loan with respect thereto;

               third, reimbursements to REMIC II of Unfunded Principal Balance
        Reductions with respect to REMIC I Regular Interest MM-1, up to its
        Loss Reimbursement Amount for such Distribution Date;

               fourth, distributions to REMIC II of accrued interest with
        respect to REMIC I Regular Interest MM-2, up to its Interest
        Distribution Amount for such Distribution Date;

               fifth, distributions to REMIC II of principal with respect to
        REMIC I Regular Interest MM-2, up to the lesser of (i) the
        Uncertificated Principal Balance of REMIC I Regular Interest MM-2
        immediately prior to such Distribution Date and (ii) the excess, if
        any, of (A) the entire portion of the Total Principal Distribution
        Amount for such Distribution Date allocable to the Mayfair Mall Trust
        Mortgage Loan or any successor REO Trust Mortgage Loan with respect
        thereto over (B) the amount of principal deemed distributed to REMIC
        II with respect to REMIC I Regular Interest MM-1 on such Distribution
        Date pursuant to clause second above;

               sixth, reimbursements to REMIC II of Unfunded Principal Balance
        Reductions with respect to REMIC I Regular Interest MM-2, up to its
        Loss Reimbursement Amount for such Distribution Date; and

                                    -206-
<PAGE>

               seventh, reimbursements to the Class MM Directing
        Certificateholder, the Series 2003-C4 Directing Certificateholder
        and/or any Mayfair Mall Non-Trust Companion Loan Holder(s) of any
        outstanding Mayfair Mall Cure Payments made by such Person(s) pursuant
        to Section 3.31 and/or the Mayfair Mall Intercreditor Agreement (pro
        rata based on entitlement if multiple such Persons have made
        outstanding Mayfair Mall Cure Payments).

          On each Distribution Date, immediately prior to making any actual
distributions on the Certificates pursuant to Section 4.01(a), Section 4.01(b)
or Section 4.01(c), or the corresponding deemed distributions on the REMIC II
Regular Interests pursuant to Section 4.01(k), the Trustee shall be deemed to
have made out of the Available Distribution Amount for such Distribution Date
(exclusive of any portion thereof deemed distributed with respect to REMIC I
Regular Interest MM-1 and REMIC I Regular Interest MM-2, or actually
distributed to the Class MM Directing Certificateholder, the Series 2003-C4
Directing Certificateholder and/or any Mayfair Mall Non-Trust Companion Loan
Holder(s), all pursuant to the preceding paragraph), the following
distributions to REMIC II in the following order of priority, in each case to
the extent of the remaining portion of such Available Distribution Amount
(exclusive of any portion thereof deemed distributed with respect to REMIC I
Regular Interest MM-1 and REMIC I Regular Interest MM-2, or actually
distributed to the Class MM Directing Certificateholder, the Series 2003-C4
Directing Certificateholder and/or any Mayfair Mall Non-Trust Companion Loan
Holder(s), all pursuant to the preceding paragraph):

               first, distributions of accrued interest with respect to all of
        the REMIC I Regular Interests (other than REMIC I Regular Interest
        MM-1 and REMIC I Regular Interest MM-2), up to, and pro rata as among
        such REMIC I Regular Interests based on, their respective Interest
        Distribution Amounts for such Distribution Date;

               second, distributions of principal with respect to all of the
        REMIC I Regular Interests (other than REMIC I Regular Interest MM-1
        and REMIC I Regular Interest MM-2), up to, and pro rata as among such
        REMIC I Regular Interests based on, the respective portions of the
        Total Principal Distribution Amount for such Distribution Date that
        are allocable thereto; and

               third, reimbursements of Unfunded Principal Balance Reductions
        with respect to all of the REMIC I Regular Interests (other than REMIC
        I Regular Interest MM-1 and REMIC I Regular Interest MM-2), including
        any such REMIC I Regular Interests whose Uncertificated Principal
        Balances have previously been reduced to zero, up to, and pro rata as
        among such REMIC I Regular Interests based on, their respective Loss
        Reimbursement Amounts for such Distribution Date.

          In addition, on each Distribution Date, immediately prior to making
any actual distributions on the REMIC III Regular Interest Certificates
pursuant to Section 4.01(d), or the corresponding deemed distributions on the
REMIC II Regular Interests pursuant to Section 4.01(k), the Trustee shall be
deemed to have distributed to REMIC II each Yield Maintenance Charge then on
deposit in the Distribution Account that was received by or on behalf of the
Trust with respect to any Trust Mortgage Loan or REO Trust Mortgage Loan
during or prior to the related Collection Period, such distribution to be
deemed made with respect to the REMIC I Regular Interest(s) that relate(s) to
such Trust Mortgage Loan or REO Trust Mortgage Loan, as the case may be; and
any Yield Maintenance Charge so deemed distributed on REMIC I Regular Interest
MM-1 and REMIC I Regular Interest MM-2 on any Distribution Date shall be
allocated between such REMIC I Regular Interests on a pro rata basis

                                    -207-
<PAGE>

in accordance with the respective amounts of principal deemed distributed
with respect to such REMIC I Regular Interests on such Distribution Date.

          The distributions deemed made by the Trustee on each Distribution
Date with respect to the REMIC II Regular Interests pursuant to Section
4.01(k), as well as the distributions actually made by the Trustee on each
Distribution Date with respect to the Certificates pursuant to Section
4.01(a), Section 4.01(b), Section 4.01(c) (to the extent such distributions
relate to the REMIC II Residual Interest or the REMIC III Residual Interest)
or Section 4.01(d), shall be deemed to have been so made from the amounts
deemed distributed with respect to the REMIC I Regular Interests on such
Distribution Date pursuant to this Section 4.01(l). Notwithstanding the deemed
distributions on the REMIC I Regular Interests described in this Section
4.01(l), actual distributions of funds from the Distribution Account shall be
made only in accordance with Section 4.01(a), Section 4.01(b), Section
4.01(c), Section 4.01(d) or Section 4.01(e), as applicable.

          SECTION 4.02. Statements to Certificateholders; Certain Other
                        Reports.

          (a) Based solely on information provided to the Trustee by the
Master Servicer pursuant to Section 3.12 and this Section 4.02, the Trustee
shall prepare (or cause to be prepared) and, on each Distribution Date,
provide or make available electronically (or, upon request, by first class
mail) to each Privileged Person a statement substantially in the form of, and
containing the information set forth in, Exhibit E hereto (the "Trustee
Report"), detailing the distributions on such Distribution Date and the
performance, both in the aggregate and individually to the extent available,
of the Trust Mortgage Loans and the Mortgaged Properties; provided that the
Trustee need not deliver to the Depositor, the Master Servicer, the Special
Servicer, the Underwriters, the Rating Agencies, the Series 2003-C4 Directing
Certificateholder or the Class MM Directing Certificateholder any Trustee
Report that has been made available to such Person via the Trustee's internet
website as provided below; and provided, further, that the Trustee has no
affirmative obligation to discover the identities of Certificate Owners and
need only react to Persons claiming to be Certificate Owners in accordance
with Section 5.06; and provided, further, that during any period that reports
are required to be filed with the Commission with respect to the Trust
pursuant to Section 15(d) of the Exchange Act, each recipient of the Trustee
Report shall be deemed to have agreed to keep confidential the information
therein until such Trustee Report is filed with the Commission, and the
Trustee Report (or, if presented via the Trustee's internet website, such
website) shall bear a legend to the following effect:

           No recipient shall use or disclose the information contained
          [in this statement/report/file] [on this website] in any manner
          which could result in a violation of any provision of the
          Securities Act of 1933 or the Securities Exchange Act of 1934
          or would require registration of any Non-Registered
          Certificates pursuant to Section 5 of the Securities Act of
          1933.

          The Trustee shall have no obligation to provide the information or
reports described in this Section 4.02(a) until it has received the requisite
information or reports from the Master Servicer provided for herein, and the
Trustee shall not be in default hereunder due to a delay in providing the
Certificateholder Reports caused by the Master Servicer's or the Special
Servicer's failure to timely deliver any information or reports hereunder.
None of the Master Servicer, the Special Servicer or the Trustee shall be
responsible for the accuracy or completeness of any information supplied to it
by a Borrower, each other or a third party, and accepted by it in good faith,
that is included in any reports,

                                    -208-
<PAGE>

statements, materials or information prepared or provided by the
Master Servicer, the Special Servicer or the Trustee, as applicable. None of
the Trustee, the Master Servicer or the Special Servicer shall have any
obligation to verify the accuracy or completeness of any information provided
by a Borrower, a third party or each other.

          The Trustee shall make available each month, to any interested
person, the related Trustee Report via its internet website initially located
at "www.ctslink.com/cmbs". In addition, the Trustee shall make available each
month, via its internet website to the extent received by the Trustee, on a
restricted basis solely to Privileged Persons, (i) the Unrestricted Master
Servicer Reports, (ii) the CMSA Loan Periodic Update File, the CMSA Loan Setup
File, CMSA Bond Level File and the CMSA Collateral Summary File, and (iii) as
a convenience to interested persons (and not in furtherance of the
distribution thereof under the securities laws), the Prospectus and this
Agreement. Upon notification by the Depositor that CSFB LLC has sold the
Non-Registered Certificates to unaffiliated third parties, the Trustee shall
remove the restriction provided for in the preceding sentence and shall make
such reports and documents available to any interested person. The Trustee
shall also make available each month, on a restricted basis to any Privileged
Person via its internet website, to the extent received by the Trustee, (i)
the Restricted Master Servicer Reports, (ii) the CMSA Property File and (iii)
any other report at the direction of the Depositor. During any period that
reports are required to be filed with the Commission with respect to the Trust
pursuant to Section 15(d) of the Exchange Act, each recipient of information
regarding the Trust on the Trustee's internet website shall be deemed to have
agreed to keep confidential such information until such information is filed
with the Commission, and the Trustee's internet website shall bear a legend to
the following effect:

          No recipient shall use or disclose the information contained on
          this website in any manner which could result in a violation of any
          provision of the Securities Act of 1933 or the Securities Exchange
          Act of 1934 or would require registration of any Non-Registered
          Certificates pursuant to Section 5 of the Securities Act of 1933.

          The Trustee makes no representations or warranties as to the
accuracy or completeness or any report, document or other information made
available on its internet website and assumes no responsibility therefor. In
addition, the Trustee may disclaim responsibility for any information
distributed by the Trustee for which it is not the original source.

          In connection with providing access to the Trustee's internet
website, the Trustee may require registration and the acceptance of a
disclaimer. The Trustee shall not be liable for the dissemination of
information in accordance herewith. Questions regarding the Trustee's internet
website can be directed to the Trustee's CMBS customer service desk at (301)
815-6600 or such other number as the Trustee may hereinafter specify.

          The Trustee shall be entitled to rely on but shall not be
responsible for the content or accuracy of any information provided by third
parties for purposes of preparing the Trustee Report and may affix thereto any
disclaimer it deems appropriate in its reasonable discretion (without
suggesting liability on the part of any other party hereto).

          (b) Within a reasonable period of time after the end of each
calendar year, the Trustee shall prepare, or cause to be prepared, and mail to
each Person who at any time during the calendar year was a Certificateholder
(i) a statement containing the aggregate information set forth on pages 2 and
3 of Exhibit E hereto for such calendar year or applicable portion thereof
during which such person was a

                                    -209-
<PAGE>

Certificateholder and (ii) such other customary information as the
Trustee deems necessary or desirable for Certificateholders to prepare their
federal, state and local income tax returns, including the amount of original
issue discount accrued on the Certificates, if applicable. The obligations of
the Trustee in the immediately preceding sentence shall be deemed to have been
satisfied to the extent that substantially comparable information shall be
provided by the Trustee pursuant to any requirements of the Code. As soon as
practicable following the request of any Certificateholder in writing, the
Trustee shall furnish to such Certificateholder such information regarding the
Trust Mortgage Loans and the Mortgaged Properties as such Certificateholder
may reasonably request and, as has been furnished to, or may otherwise be in
the possession of, the Trustee. The Master Servicer and the Special Servicer
shall promptly provide to the Depositor and the Trustee such information
regarding the Trust Mortgage Loans and the Mortgaged Properties as such party
may reasonably request and that has been furnished to, or may otherwise be in
the possession of, the Master Servicer or the Special Servicer, as the case
may be.

          SECTION 4.03. P&I Advances.

          (a) On or before 1:00 p.m., New York City time, on each Master
Servicer Remittance Date, the Master Servicer shall, subject to Section
4.03(c), either (i) remit from its own funds to the Trustee for deposit into
the Distribution Account an amount equal to the aggregate amount of P&I
Advances, if any, to be made by the Master Servicer in respect of the Mortgage
Pool for the related Distribution Date, (ii) apply amounts held in the
Collection Account for future distribution to Certificateholders in subsequent
months in discharge of any such obligation to make such P&I Advances, or (iii)
make such P&I Advances in the form of any combination of (i) and (ii)
aggregating the total amount of such P&I Advances to be made by the Master
Servicer. Any amounts held in the Collection Account for future distribution
and so used to make P&I Advances in respect of the Mortgage Pool shall be
appropriately reflected in the Master Servicer's records and replaced by the
Master Servicer by deposit in the Collection Account prior to the next
succeeding Master Servicer Remittance Date (to the extent not previously
replaced through the deposit of Late Collections of the delinquent principal
and interest in respect of which such P&I Advances were made). If, as of 3:30
p.m., New York City time, on any Master Servicer Remittance Date, the Master
Servicer shall not have made any P&I Advance required to be made by it in
respect of the Mortgage Pool on such date pursuant to this Section 4.03(a)
(and shall not have delivered to the Trustee the Officer's Certificate and
other documentation related to a determination of nonrecoverability of a P&I
Advance pursuant to Section 4.03(c)) or, to the actual knowledge of a
Responsible Officer of the Trustee, shall not have remitted any other amounts
required to be remitted by the Master Servicer on such date, then the Trustee
shall provide notice of such failure to the Master Servicer by facsimile
transmission as soon as possible, but in any event before 5:00 p.m., New York
City time, on such Master Servicer Remittance Date. If after such notice the
Trustee does not receive the full amount of such P&I Advances in respect of
the Mortgage Pool by 11:00 a.m., New York City time, on the related
Distribution Date, then the Trustee shall (not later than 12:00 noon, New York
City time, on the related Distribution Date) make the portion of such P&I
Advances in respect of the Mortgage Pool that was required to be, but was not,
made or remitted, as the case may be, by the Master Servicer with respect to
the related Distribution Date.

          (b) The aggregate amount of P&I Advances to be made by the Master
Servicer in respect of the Mortgage Pool for any Distribution Date, subject to
Section 4.03(c) below, shall equal the aggregate of all Monthly Payments
(other than Balloon Payments) and any Assumed Scheduled Payments, in each case
net of any related Master Servicing Fees and Workout Fees, due or deemed due,
as the case may be, in respect of the Trust Mortgage Loans (including Balloon
Trust Mortgage Loans

                                    -210-
<PAGE>

delinquent as to their respective Balloon Payments) and any REO
Trust Mortgage Loans on their respective Due Dates during the related
Collection Period, in each case to the extent such amount was not paid by or
on behalf of the related Borrower or otherwise collected by or on behalf of
the Trust as of the close of business on the related Determination Date;
provided that, if an Appraisal Reduction Amount exists with respect to any
Trust Mortgage Loan or REO Trust Mortgage Loan, then the interest portion of
any P&I Advance required to be made in respect of such Trust Mortgage Loan or
REO Trust Mortgage Loan, as the case may be, for the related Distribution Date
shall be reduced (it being herein acknowledged that there shall be no
reduction in the principal portion of such P&I Advance) to equal the product
of (i) the amount of the interest portion of such P&I Advance that would
otherwise be required to be made in respect of such Trust Mortgage Loan or REO
Trust Mortgage Loan, as the case may be, for such Distribution Date without
regard to this proviso, multiplied by (ii) a fraction, expressed as a
percentage, the numerator of which shall equal the Stated Principal Balance of
such Trust Mortgage Loan or REO Trust Mortgage Loan, as the case may be,
immediately prior to such Distribution Date, net of the related Appraisal
Reduction Amount, and the denominator of which shall equal the Stated
Principal Balance of such Trust Mortgage Loan or REO Trust Mortgage Loan, as
the case may be, immediately prior to such Distribution Date.

          (c) Notwithstanding anything herein to the contrary, no P&I Advance
shall be required to be made hereunder if such P&I Advance would, if made,
constitute a Nonrecoverable P&I Advance. Also, notwithstanding anything herein
to the contrary, no P&I Advance shall be required to be made hereunder in
respect of any Mayfair Mall Non-Trust Companion Loan or any successor REO
Non-Trust Companion Loan.

          (d) Subject to the last two sentences of this Section 4.03(d), the
Master Servicer and the Trustee shall each be entitled to receive interest at
the Reimbursement Rate in effect from time to time, accrued on the amount of
each P&I Advance made thereby (with its own funds), for so long as such P&I
Advance is outstanding (or, if such P&I Advance was made prior to the end of
any grace period applicable to the subject delinquent Monthly Payment, for so
long as such P&I Advance is outstanding following the end of such grace
period). Such interest with respect to any P&I Advance shall be payable: (i)
first, out of any Penalty Charges subsequently collected on the particular
Trust Mortgage Loan or REO Trust Mortgage Loan as to which such P&I Advance
relates; and (ii) then, after such P&I Advance is reimbursed, but only if and
to the extent that such Penalty Charges are insufficient to cover such Advance
Interest, out of general collections on the Trust Mortgage Loans and REO
Properties on deposit in the Master Servicer's Collection Account; provided
that interest earned on any P&I Advances made with respect to the A-Note Trust
Mortgage Loan of an A/B Mortgage Loan Combination or any successor REO Trust
Mortgage Loan in respect thereof shall be payable out of the related A/B
Mortgage Loan Combination Custodial Account, to the maximum extent permitted
by the related A/B Intercreditor Agreement, before being paid out of general
collections on the Mortgage Pool on deposit in the Collection Account. The
Master Servicer shall reimburse itself or the Trustee, as applicable, for any
outstanding P&I Advance made thereby with respect to any Trust Mortgage Loan
or REO Trust Mortgage Loan as soon as practicable after funds available for
such purpose are deposited in the Master Servicer's Collection Account.
Notwithstanding the foregoing, upon a determination that a P&I Advance
previously made with respect to the Mortgage Pool is a Nonrecoverable P&I
Advance, instead of obtaining reimbursement out of general collections on the
Mortgage Pool immediately (as contemplated by Section 3.05(a)(vi)), the Master
Servicer or the Trustee, as applicable, may, in its sole discretion, elect to
obtain reimbursement for such Nonrecoverable P&I Advance over a period of time
(not to exceed 12 months) and the unreimbursed portion of such P&I Advance
will accrue interest at the

                                    -211-
<PAGE>

Reimbursement Rate in effect from time to time. At any time after such a
determination to obtain reimbursement over time in accordance with the
preceding sentence, the Master Servicer or the Trustee, as applicable, may, in
its sole discretion, decide to obtain reimbursement immediately. The fact that
a decision to recover such Nonrecoverable P&I Advance over time, or not to do
so, benefits some Classes of Certificateholders to the detriment of other
Classes shall not constitute a violation of the Servicing Standard by the
Master Servicer or a breach of any fiduciary duty owed to the
Certificateholders by the Trustee, or a breach of any other contractual
obligation owed to the Certificateholders by any party to this Agreement. In
no event shall interest accrue in accordance with this Section 4.03(d) on any
P&I Advance as to which the corresponding Late Collection was received by or
on behalf of the Trust as of the related Master Servicer Remittance Date. In
addition, the Master Servicer shall not be entitled to Advance Interest on any
particular P&I Advance made thereby to the extent a payment is received but is
being held by or on behalf of the Master Servicer in suspense.

          SECTION 4.04. Allocation of Realized Losses and Additional Trust
                        Fund Expenses.

          (a) On each Distribution Date, following the distributions to
Certificateholders to be made on such date pursuant to Sections 4.01, the
Trustee shall determine the amount, if any, by which (i) the then aggregate of
the Class Principal Balances of all the Classes of Principal Balance
Certificates (exclusive of the Class MM Certificates), exceeds (ii) the
aggregate Stated Principal Balance of the Mortgage Pool (net of the
Uncertificated Principal Balance of REMIC I Regular Interest MM-2) that will
be outstanding immediately following such Distribution Date. If such excess
does exist, then the respective Class Principal Balances of the Principal
Balance Certificates (exclusive of the Class MM Certificates) will be reduced
sequentially, in the following order, until such excess is reduced to zero:
first, the Class Principal Balance of the Class P Certificates, until such
Class Principal Balance is reduced to zero; second, the Class Principal
Balance of the Class O Certificates, until such Class Principal Balance is
reduced to zero; third, the Class Principal Balance of the Class N
Certificates, until such Class Principal Balance is reduced to zero; fourth,
the Class Principal Balance of the Class M Certificates, until such Class
Principal Balance is reduced to zero; fifth, the Class Principal Balance of
the Class L Certificates, until such Class Principal Balance is reduced to
zero; sixth, the Class Principal Balance of the Class K Certificates, until
such Class Principal Balance is reduced to zero; seventh, the Class Principal
Balance of the Class J Certificates, until such Class Principal Balance is
reduced to zero; eighth, the Class Principal Balance of the Class H
Certificates, until such Class Principal Balance is reduced to zero; ninth,
the Class Principal Balance of the Class G Certificates, until such Class
Principal Balance is reduced to zero; tenth, the Class Principal Balance of
the Class F Certificates, until such Class Principal Balance is reduced to
zero; eleventh, the Class Principal Balance of the Class E Certificates, until
such Class Principal Balance is reduced to zero; twelfth, the Class Principal
Balance of the Class D Certificates, until such Class Principal Balance is
reduced to zero; thirteenth, the Class Principal Balance of the Class C
Certificates, until such Class Principal Balance is reduced to zero;
fourteenth, the Class Principal Balance of the Class B Certificates, until
such Class Principal Balance is reduced to zero; and fifteenth, the respective
Class Principal Balances of the Class A-1 Certificates, the Class A-2
Certificates, the Class A-3 Certificates, the Class A-4 Certificates and the
Class A-1-A Certificates (on a pro rata basis in accordance with the relative
sizes of such Class Principal Balances), until such Class Principal Balances
are reduced to zero. On each Distribution Date, following the distributions to
Certificateholders to be made on such date pursuant to Section 4.01, the Class
Principal Balance of the Class MM Certificates shall be reduced to the extent
necessary (if at all) to equal the Uncertificated Principal Balance of REMIC I
Regular Interest MM-2 that will be outstanding

                                    -212-
<PAGE>

immediately following such Distribution Date. All such reductions in
the Class Principal Balances of the respective Classes of the Principal
Balance Certificates shall constitute allocations of Realized Losses and
Additional Trust Fund Expenses.

          (b) On each Distribution Date, the Uncertificated Principal Balance
of each REMIC II Regular Interest (or, if applicable, the aggregate
Uncertificated Principal Balance of each Group of REMIC II Regular Interests
with the same Corresponding Class of Principal Balance Certificates) shall be
deemed to have been reduced in the same amount as any reduction in the Class
Principal Balance of the Corresponding Class of Principal Balance Certificates
for such REMIC II Regular Interest (or, if applicable, such Group of REMIC II
Regular Interests) that occurred on such Distribution Date pursuant to Section
4.04(a). Where multiple REMIC II Regular Interests have the same Corresponding
Class of Principal Balance Certificates, such reductions shall be made as
follows: (i) any reduction in the Class Principal Balance of the Class A-1
Certificates shall be deemed to have first been made in the Uncertificated
Principal Balances of REMIC II Regular Interest A-1-1, REMIC II Regular
Interest A-1-2 and REMIC II Regular Interest A-1-3, in that order, in each
case until the related Uncertificated Principal Balance is reduced to zero;
(ii) any reduction in the Class Principal Balance of the Class A-2
Certificates shall be deemed to have first been made in the Uncertificated
Principal Balances of REMIC II Regular Interest A-2-1, REMIC II Regular
Interest A-2-2 and REMIC II Regular Interest A-2-3, in that order, in each
case until the related Uncertificated Principal Balance is reduced to zero;
(iii) any reduction in the Class Principal Balance of the Class A-4
Certificates shall be deemed to have first been made in the Uncertificated
Principal Balances of REMIC II Regular Interest A-4-1, REMIC II Regular
Interest A-4-2, REMIC II Regular Interest A-4-3 and REMIC II Regular Interest
A-4-4, in that order, in each case until the related Uncertificated Principal
Balance is reduced to zero; and (iv) any reduction in the Class Principal
Balance of the Class A-1-A Certificates shall be deemed to have first been
made in the Uncertificated Principal Balances of REMIC II Regular Interest
A-1-A-1, REMIC II Regular Interest A-1-A-2, REMIC II Regular Interest A-1-A-3,
REMIC II Regular Interest A-1-A-4, REMIC II Regular Interest A-1-A-5, REMIC II
Regular Interest A-1-A-6, REMIC II Regular Interest A-1-A-7 and REMIC II
Regular Interest A-1-A-8, in that order, in each case until the related
Uncertificated Principal Balance is reduced to zero. All such reductions in
the Uncertificated Principal Balances of the respective REMIC II Regular
Interests shall be deemed to constitute allocations of Realized Losses and
Additional Trust Fund Expenses.

          (c) On each Distribution Date, following the deemed distributions to
be made in respect of the REMIC I Regular Interests pursuant to Section
4.01(l), the Uncertificated Principal Balance of each REMIC I Regular Interest
(after taking account of such deemed distributions) shall be reduced to the
extent necessary to equal the Stated Principal Balance of the related Trust
Mortgage Loan or REO Trust Mortgage Loan, as the case may be (or, if
applicable in cases involving the substitution of multiple Replacement Trust
Mortgage Loans, the aggregate Stated Principal Balance of each and every
related Trust Mortgage Loan and/or REO Trust Mortgage Loan, as the case may
be), that will be outstanding immediately following such Distribution Date;
provided that the Uncertificated Principal Balance of REMIC I Regular Interest
MM-2 (after taking account of such deemed distributions pursuant to Section
4.01(l)) shall be reduced to the extent necessary (if at all) to equal the
excess, if any, of (i) the Stated Principal Balance of the Mayfair Mall Trust
Mortgage Loan or any successor REO Trust Mortgage Loan with respect thereto
that will be outstanding immediately following such Distribution Date, over
(ii) the Uncertificated Principal Balance of REMIC I Regular Interest MM-1
(after taking account of such deemed distributions pursuant to Section
4.01(l)). All such reductions in the

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<PAGE>

Uncertificated Principal Balances of the respective REMIC I Regular
Interests shall be deemed to constitute allocations of Realized Losses and
Additional Trust Fund Expenses.

          SECTION 4.05. Calculations.

          Provided that the Trustee receives the necessary information from
the Master Servicer and/or the Special Servicer, the Trustee shall be
responsible for performing all calculations necessary in connection with the
actual and deemed distributions to be made pursuant to Section 4.01, the
preparation of the Trustee Reports pursuant to Section 4.02(a) and the actual
and deemed allocations of Realized Losses and Additional Trust Fund Expenses
to be made pursuant to Section 4.04. The Trustee shall calculate the Available
Distribution Amount, the Net Available Distribution Amount and the Class MM
Available Distribution Amount for each Distribution Date and shall allocate
such amounts among Certificateholders in accordance with this Agreement.
Absent actual knowledge of an error therein, the Trustee shall have no
obligation to recompute, recalculate or otherwise verify any information
provided to it by the Master Servicer. The calculations by the Trustee
contemplated by this Section 4.05 shall, in the absence of manifest error, be
presumptively deemed correct for all purposes hereunder.

                                    -214-
<PAGE>

                                  ARTICLE V

                               THE CERTIFICATES

          SECTION 5.01. The Certificates.

          (a) The Certificates shall consist of 24 Classes with the following
respective alphabetic or alphanumeric Class designations: "A-X", "A-SP",
"A-1", "A-2",, "A-3", "A-4", "A-1-A", "B", "C", "D", "E", "F", "G", "H", "J",
"K", "L", "M", "N", "O", "P", "MM", "R" and "V", respectively. Any reference
in any other section or subsection of this Agreement to any Certificate or
Certificates preceded by a Class designation shall be to a Certificate or
Certificates of the Class so designated in this Section 5.01(a).

          (b) The Certificates will be substantially in the respective forms
attached hereto as Exhibits A-1 through A-5; provided, however, that any of
the Certificates may be issued with appropriate insertions, omissions,
substitutions and variations, and may have imprinted or otherwise reproduced
thereon such legend or legends, not inconsistent with the provisions of this
Agreement, as may be required to comply with any law or with rules or
regulations pursuant thereto, or with the rules of any securities market in
which the Certificates are admitted to trading, or to conform to general
usage. The Certificates will be issuable in registered form only; provided,
however, that in accordance with Section 5.03 beneficial ownership interests
in the REMIC III Regular Interest Certificates initially shall (and, at the
option of the Depositor, following the Closing Date, all or a portion of any
other Class of Certificates may) be held and transferred through the
book-entry facilities of the Depository. The REMIC III Regular Interest
Certificates will be issuable only in denominations corresponding to initial
Certificate Principal Balances (or, in the case of the Interest Only
Certificates, initial Certificate Notional Amounts) as of the Closing Date of
not less than $10,000 and any whole dollar denomination in excess thereof. The
Class R and Class V Certificates will be issuable only in denominations
representing Percentage Interests in the related Class of not less than 10.0%.

          (c) The Certificates shall be executed by manual or facsimile
signature on behalf of the Trustee in its capacity as trustee hereunder by an
authorized signatory. Certificates bearing the manual or facsimile signatures
of individuals who were at any time the authorized signatory of the Trustee
shall be entitled to all benefits under this Agreement, subject to the
following sentence, notwithstanding that such individuals or any of them have
ceased to hold such offices prior to the authentication and delivery of such
Certificates or did not hold such offices at the date of such Certificates. No
Certificate shall be entitled to any benefit under this Agreement, or be valid
for any purpose, however, unless there appears on such Certificate a
certificate of authentication substantially in the form provided for herein
executed by the Certificate Registrar by manual signature, and such
certificate of authentication 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.

          SECTION 5.02. Registration of Transfer and Exchange of Certificates.

          (a) At all times during the term of this Agreement, there shall be
maintained at the office of the Certificate Registrar a Certificate Register
in which, subject to such reasonable regulations as the Certificate Registrar
(located as of the Closing Date at Wells Fargo Center, Sixth and Marquette,

                                    -215-
<PAGE>

Minneapolis, Minnesota 55479-0113) may prescribe, the Certificate Registrar
shall provide for the registration of Certificates and of transfers and
exchanges of Certificates as herein provided. The Trustee is hereby initially
appointed (and hereby agrees to act in accordance with the terms hereof) as
Certificate Registrar for the purpose of registering Certificates and
transfers and exchanges of Certificates as herein provided. The Trustee may
appoint, by a written instrument delivered to the other parties hereto, any
other bank or trust company to act as Certificate Registrar under such
conditions as the Trustee may prescribe; provided that the Trustee shall not
be relieved of any of its duties or responsibilities hereunder as Certificate
Registrar by reason of such appointment. If the Trustee resigns or is removed
in accordance with the terms hereof, the successor trustee shall immediately
succeed to its predecessor's duties as Certificate Registrar. The Depositor,
the Master Servicer and the Special Servicer shall each have the right to
inspect the Certificate Register or to obtain a copy thereof at all reasonable
times, and to rely conclusively upon a certificate of the Certificate
Registrar as to the information set forth in the Certificate Register.

          If three or more Certificateholders make a written request to the
Trustee, and such request states that such Certificateholders desire to
communicate with other Certificateholders with respect to their rights under
this Agreement or under the Certificates and is accompanied by a copy of the
communication that such requesting Certificateholders propose to transmit,
then the Trustee shall, within 30 days after the receipt of such request,
afford (or cause any other Certificate Registrar to afford) the requesting
Certificateholders access during normal business hours to, or deliver to the
requesting Certificateholders a copy of, the most recent list of
Certificateholders held by the Certificate Registrar (which list shall be
current as of a date no earlier than 30 days prior to the Trustee's receipt of
such request). Every Certificateholder, by receiving such access, acknowledges
that neither the Certificate Registrar nor the Trustee will be held
accountable in any way by reason of the disclosure of any information as to
the names and addresses of any Certificateholder regardless of the source from
which such information was derived.

          (b) No transfer, sale, pledge or other disposition of any
Non-Registered Certificate or interest therein shall be made unless that
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 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 an Affiliate of the Depositor or, in the case
of a Global Certificate, any transfer of such Certificate to a successor
Depository or, in the case of a Definitive Certificate issued with respect to
a Global Certificate, any transfer of such Certificate to the applicable
Certificate Owner in accordance with Section 5.03(c)), 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 hereto as Exhibit F-1A; or (ii) a certificate from the
Certificateholder desiring to effect such transfer substantially in the form
attached hereto as Exhibit F-1B and a certificate from such
Certificateholder's prospective Transferee substantially in the form attached
hereto either as Exhibit F-2A or as Exhibit F-2B; or (iii) an Opinion of
Counsel satisfactory to the Trustee to the effect that such transfer may be
made without registration under the Securities Act (which Opinion of Counsel
shall not be an expense of the Trust or of the Depositor, the Master Servicer,
the Special Servicer, the Trustee or the Certificate Registrar in their
respective capacities as such), together with the written certification(s)

                                    -216-
<PAGE>

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.

          Each Global Certificate shall be deposited with the Trustee as
custodian for the Depository and registered in the name of Cede & Co. as
nominee of the Depository.

          If a transfer of an interest in any Rule 144A Global 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 an
interest in such Rule 144A Global Certificate by the Depositor or an Affiliate
of the Depositor), then (except as provided in the next succeeding paragraph
or in the penultimate paragraph of this Section 5.02(b)) the Certificate Owner
desiring to effect such transfer shall require from its prospective
Transferee: (i) a certificate substantially in the form attached as Exhibit
F-2C hereto; or (ii) an Opinion of Counsel to the effect that the prospective
Transferee is a Qualified Institutional Buyer and such transfer may be made
without registration under the Securities Act. Except as provided in the next
succeeding paragraph or in the penultimate paragraph of this Section 5.02(b),
any interest in a Rule 144A Global Certificate shall not be transferred to any
Person other than a Qualified Institutional Buyer that takes delivery in the
form of an interest in such Rule 144A Global Certificate. If any Transferee of
an interest in a Rule 144A Global Certificate does not, in connection with the
subject transfer, deliver to the Transferor the Opinion of Counsel or the
certification described in the second preceding sentence, then such Transferee
shall be deemed to have represented and warranted that all the certifications
set forth in Exhibit F-2C hereto are, with respect to the subject transfer,
true and correct.

          Notwithstanding the preceding paragraph, any interest in any Rule
144A Global Certificate may be transferred (without delivery of any
certificate or Opinion of Counsel described in clauses (i) and (ii) of the
first sentence of the preceding paragraph) to any Person who takes delivery in
the form of a beneficial interest in the Regulation S Global Certificate for
the same Class as such Rule 144A Global Certificate upon delivery to the
Certificate Registrar and the Trustee of (i) a certificate from the
Certificate Owner desiring to effect such transfer substantially in the form
attached hereto as Exhibit F-1D and a certificate from such Certificate
Owner's prospective Transferee substantially in the form attached hereto as
Exhibit F-2D and (ii) such written orders and instructions as are required
under the applicable procedures of the Depository, Clearstream and/or
Euroclear to direct the Trustee to debit the account of a Depository
Participant by a denomination of interests in such Rule 144A Global
Certificate, and credit the account of a Depository Participant by a
denomination of interests in such Regulation S Global Certificate, that is
equal to the denomination of beneficial interests in the Class A-X, Class
A-SP, Class A-1-A, Class F, Class G, Class H, Class J, Class K, Class L, Class
M, Class N, Class O, Class P or Class MM, as applicable, Certificates to be
transferred. Upon delivery to the Trustee of such certifications and such
orders and instructions, the Trustee, subject to and in accordance with the
applicable procedures of the Depository, shall reduce the denomination of the
Rule 144A Global Certificate with respect to the Class A-X, Class A-SP, Class
A-1-A, Class F, Class G, Class H, Class J, Class K, Class L, Class M, Class N,
Class O, Class P or Class MM, as applicable, Certificates, and increase the
denomination of the Regulation S Global Certificate for such Class, by the
denomination of the beneficial interest in such Class specified in such orders
and instructions.

          Except as provided in the next succeeding paragraph or in the
penultimate paragraph of this Section 5.02(b), beneficial interests in any
Regulation S Global Certificate shall not be transferred to any Person other
than a non-United States Securities Person that takes delivery in the form of
a beneficial interest in such Regulation S Global Certificate, and the
Certificate Owner desiring to effect

                                    -217-
<PAGE>

such transfer shall be required to obtain from such prospective
Transferee a certification substantially in the form attached hereto as
Exhibit F-2D. On or prior to the Release Date, beneficial interests in any
Regulation S Global Certificate may be held only through Euroclear or
Clearstream.

          Notwithstanding the preceding paragraph, any interest in any
Regulation S Global Certificate may be transferred (without delivery of any
certificate described in the first sentence of the preceding paragraph) to any
Person who takes delivery in the form of a beneficial interest in the Rule
144A Global Certificate for the same Class as such Regulation S Global
Certificate upon delivery to the Certificate Registrar and the Trustee of (i)
a certificate from the Certificate Owner desiring to effect such transfer
substantially in the form attached hereto as Exhibit F-1C and a certificate
from such Certificate Owner's prospective Transferee substantially in the form
attached hereto as Exhibit F-2C and (ii) such written orders and instructions
as are required under the applicable procedures of the Depository, Clearstream
and/or Euroclear to direct the Trustee to debit the account of a Depository
Participant by a denomination of interests in such Regulation S Global
Certificate, and credit the account of a Depository Participant by a
denomination of interests in such Rule 144A Global Certificate, that is equal
to the denomination of beneficial interests in the Class A-X, Class A-SP,
Class A-1-A, Class F, Class G, Class H, Class J, Class K, Class L, Class M,
Class N, Class O, Class P or Class MM Certificates, as applicable, to be
transferred. Upon delivery to the Trustee of such certifications and such
orders and instructions, the Trustee, subject to and in accordance with the
applicable procedures of the Depository, shall reduce the denomination of the
Regulation S Global Certificate with respect to the Class A-X, Class A-SP,
Class A-1-A, Class F, Class G, Class H, Class J, Class K, Class L, Class M,
Class N, Class O, Class P or Class MM, as applicable, Certificates, and
increase the denomination of the Rule 144A Global Certificate for such Class,
by the denomination of the beneficial interest in such Class specified in such
orders and instructions.

          Notwithstanding the foregoing, any interest in a Global Certificate
may be transferred by any Certificate Owner holding such interest to any
Institutional Accredited Investor (other than a Qualified Institutional Buyer)
that takes delivery in the form of a Definitive Certificate of the same Class
as such Global Certificate upon delivery to the Certificate Registrar and the
Trustee of (i) such certifications and/or opinions as are contemplated by the
second paragraph of this Section 5.02(b) and (ii) such written orders and
instructions as are required under the applicable procedures of the
Depository, Clearstream and/or Euroclear to direct the Trustee to debit the
account of a Depository Participant by the denomination of the transferred
interests in such Global Certificate. Upon delivery to the Certificate
Registrar of the certifications and/or opinions contemplated by the second
paragraph of this Section 5.02(b), the Trustee, subject to and in accordance
with the applicable procedures of the Depository, shall reduce the
denomination of the subject Global Certificate, and cause a Definitive
Certificate of the same Class as such Global Certificate, and in a
denomination equal to the reduction in the denomination of such Global
Certificate, to be executed, authenticated and delivered in accordance with
this Agreement to the applicable Transferee.

          None of the Depositor, the Trustee 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
Non-Registered Certificate or interest therein without registration or
qualification. Any Certificateholder or Certificate Owner desiring to effect a
transfer, sale, pledge or other disposition of any Non-Registered Certificate
or interest therein shall, and does hereby agree to, indemnify the Depositor,
CSFB LLC, the Trustee, the Master Servicer, the Special Servicer and the
Certificate

                                    -218-
<PAGE>

Registrar against any liability that may result if such transfer,
sale, pledge or other disposition is not exempt from the registration and/or
qualification requirements of the Securities Act and any applicable state
securities laws or is not made in accordance with such federal and state laws.

          (c) No transfer of any Certificate or interest therein shall be made
to a Plan or 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 assets of a Plan, if the purchase and holding of such
Certificate or interest therein by the prospective Transferee would result in
a violation of Sections 406 or 407 of ERISA or Section 4975 of the Code or
would result in the imposition of an excise tax under Section 4975 of the
Code.

          Except in connection with the initial issuance of the Certificates
or any transfer of a Non-Registered Certificate by the Depositor or an
Affiliate of the Depositor or, in the case of a Global Certificate, any
transfer of such Certificate to a successor Depository or, in the case of a
Definitive Certificate issued with respect to a Global Certificate, any
transfer of such Certificate to the applicable Certificate Owner in accordance
with Section 5.03(c), the Certificate Registrar shall refuse to register the
transfer of a Non-Registered Certificate unless it has received from the
prospective Transferee one of the following: (i) a certification to the effect
that such prospective Transferee is not a Plan and is not directly or
indirectly purchasing such Certificate or interest therein on behalf of, as
named fiduciary of, as trustee of, or with assets of a Plan; or (ii) a
certification to the effect that the purchase and continued holding of such
Certificate by such prospective Transferee is exempt from the prohibited
transaction provisions of Section 406 and 407 of ERISA and Section 4975 of the
Code by reason of Sections I and III of Prohibited Transaction Class Exemption
95-60; or (iii) in the case of a Non-Registered Certificate (other than a
Class R or Class V Certificate) that is rated investment grade by at least one
of the Rating Agencies and is being acquired by or on behalf of a Plan in
reliance on PTE 89-90, a certification to the effect that such Plan (X) is an
accredited investor as defined in Rule 501(a)(1) of Regulation D of the
Securities Act, (Y) is not sponsored (within the meaning of Section 3(16)(B)
of ERISA) by the Trustee, any Exemption-Favored Party, the Depositor, any
Mortgage Loan Seller, the Master Servicer, the Special Servicer, any
Sub-Servicer or any Borrower with respect to Trust Mortgage Loans constituting
more than 5% of the aggregate unamortized principal of all the Trust Mortgage
Loans determined as of the Closing Date, or by any Affiliate of such Person,
and (Z) agrees that it will obtain from each of its Transferees a written
representation that such Transferee, if a Plan, satisfies the requirements of
the immediately preceding clauses (iii)(X) and (iii)(Y), together with a
written agreement that such Transferee will obtain from each of its
Transferees that are Plans a similar written representation regarding
satisfaction of the requirements of the immediately preceding clauses (iii)(X)
and (iii)(Y); or (iv) a certification of facts and an Opinion of Counsel
(which Opinion of Counsel shall not be an expense of the Trustee, the
Certificate Registrar or the Trust) which otherwise establish to the
reasonable satisfaction of the Trustee that such transfer will not result in a
violation of Sections 406 or 407 of ERISA or Section 4975 of the Code or
result in the imposition of an excise tax under Section 4975 of the Code. It
is hereby acknowledged that the form of certification attached hereto as
Exhibit G-1 is acceptable for purposes of the preceding sentence.

          Except in connection with the initial issuance of the Certificates
or any transfer of an interest in a Book-Entry Non-Registered Certificate by
the Depositor or an Affiliate of the Depositor, the Certificate Owner desiring
to effect a transfer of an interest in a Book-Entry Non-Registered Certificate
shall obtain from its prospective Transferee one of the following: (i) a
certification to the effect that such prospective Transferee is not a Plan and
is not directly or indirectly purchasing such interest in

                                    -219-
<PAGE>

such Certificate on behalf of, as named fiduciary of, as trustee of, or with
assets of a Plan; or (ii) a certification to the effect that the purchase and
continued holding of an interest in such Certificate by such prospective
Transferee is exempt from the prohibited transaction provisions of Sections
406 and 407 of ERISA and Section 4975 of the Code by reason of Sections I and
III of Prohibited Transaction Class Exemption 95-60; or (iii) if such
Certificate is not a Class R or Class V Certificate, if such Certificate is
rated investment grade by at least one of the Rating Agencies and if the
interest in such Certificate is being acquired by or on behalf of a Plan in
reliance on PTE 89-90, a certification to the effect that such Plan (X) is an
accredited investor as defined in Rule 501(a)(1) of Regulation D of the
Securities Act, (Y) is not sponsored (within the meaning of Section 3(16)(B)
of ERISA) by the Trustee, the Depositor, any Mortgage Loan Seller, the Master
Servicer, the Special Servicer, any Sub-Servicer or any Borrower with respect
to Trust Mortgage Loans constituting more than 5% of the aggregate unamortized
principal of all the Trust Mortgage Loans determined as of the Closing Date,
or by any Affiliate of such Person, and (Z) agrees that it will obtain from
each of its Transferees a written representation that such Transferee, if a
Plan, satisfies the requirements of the immediately preceding clauses (iii)(X)
and (iii)(Y), together with a written agreement that such Transferee will
obtain from each of its Transferees that are Plans a similar written
representation regarding satisfaction of the requirements of the immediately
preceding clauses (iii)(X) and (iii)(Y); or (iv) a certification of facts and
an Opinion of Counsel to the effect that such transfer will not result in a
violation of Sections 406 or 407 of ERISA or Section 4975 of the Code or
result in the imposition of an excise tax under Section 4975 of the Code. It
is hereby acknowledged that the form of certification attached hereto as
Exhibit G-2 is acceptable for purposes of the preceding sentence.

          Each Transferee of any Registered Certificate or interest therein or
of an interest in any Book-Entry Non-Registered Certificate shall be deemed to
have represented and warranted that either: (i) such Transferee is not a Plan
and is not directly or indirectly purchasing such Certificate or interest
therein on behalf of, as named fiduciary of, as trustee of, or with assets of
a Plan; or (ii) the purchase and continued holding of such Certificate or
interest therein by such Transferee is exempt from the prohibited transaction
provisions of Section 406 and 407 of ERISA and Section 4975 of the Code.

          (d) (i) Each Person who has or acquires any Ownership Interest in a
Class R 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 Trustee under clause (d)(ii) below to
deliver payments to a Person other than such Person and, further, to negotiate
the terms of any mandatory disposition and to execute all instruments of
Transfer and do all other things necessary in connection with any such
disposition. The rights of each Person acquiring any Ownership Interest in a
Class R Certificate are expressly subject to the following provisions:

                    (A)  Each Person holding or acquiring any Ownership
                         Interest in a Class R Certificate shall be a
                         Permitted Transferee and shall promptly notify the
                         Trustee 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 Class R Certificate, the
                         Certificate Registrar shall require delivery to it,
                         and shall not register the Transfer of any Class R
                         Certificate until its receipt, of an affidavit and
                         agreement substantially in the form attached hereto
                         as Exhibit H-1 (a "Transfer Affidavit and
                         Agreement"), from the

                                    -220-
<PAGE>

                         proposed Transferee, representing and warranting, among
                         other things, that such Transferee is a Permitted
                         Transferee, that it is not acquiring its Ownership
                         Interest in the Class R 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 Class R Certificate it
                         will endeavor to remain a Permitted Transferee, and
                         that it has reviewed the provisions of this Section
                         5.02(d) 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 a Responsible Officer of either the
                         Trustee or the Certificate Registrar has actual
                         knowledge that the proposed Transferee is not a
                         Permitted Transferee, no Transfer of an Ownership
                         Interest in a Class R Certificate to such proposed
                         Transferee shall be effected.

                    (D)  Each Person holding or acquiring any Ownership
                         Interest in a Class R Certificate shall agree (1) to
                         require a Transfer Affidavit and Agreement in the
                         form attached hereto as Exhibit H-1 from any
                         prospective Transferee to whom such Person attempts
                         to transfer its Ownership Interest in such Class R
                         Certificate and (2) not to transfer its Ownership
                         Interest in such Class R Certificate unless it
                         provides to the Certificate Registrar and the Trustee
                         a certificate substantially in the form attached
                         hereto as Exhibit H-2 stating that, among other
                         things, it has no actual knowledge that such
                         prospective Transferee is not a Permitted Transferee.

                    (E)  Each Person holding or acquiring an Ownership
                         Interest in a Class R Certificate, by purchasing such
                         Ownership Interest, agrees to give the Trustee
                         written notice that it is a "pass-through interest
                         holder" within the meaning of temporary Treasury
                         regulations section 1.67-3T(a)(2)(i)(A) immediately
                         upon acquiring an Ownership Interest in a Class R
                         Certificate if it is, or is holding an Ownership
                         Interest in a Class R Certificate on behalf of, a
                         "pass-through interest holder".

               (ii) If any purported Transferee shall become a Holder of a
          Class R Certificate in violation of the provisions of this Section
          5.02(d), then the last preceding Holder of such Class R Certificate
          that was in compliance with the provisions of this Section 5.02(d)
          shall be restored, to the extent permitted by law, to all rights as
          Holder thereof retroactive to the date of registration of such
          Transfer of such Class R Certificate. None of the Depositor, the
          Trustee or the Certificate Registrar shall be under any liability to
          any Person for any registration of Transfer of a Class R Certificate
          that is in fact not permitted by this Section 5.02(d) 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.

               If any purported Transferee shall become a Holder of a Class R
          Certificate in violation of the restrictions in this Section
          5.02(d), then, to the extent that retroactive restoration of the
          rights of the preceding Holder of such Class R Certificate as
          described in the preceding

                                    -221-
<PAGE>

          paragraph of this clause (d)(ii) shall be invalid, illegal or
          unenforceable, the Trustee shall have the right, but not the
          obligation, to cause the transfer of such Class R Certificate to a
          Permitted Transferee selected by the Trustee on such terms as the
          Trustee may choose, and the Trustee shall not be liable to any
          Person having an Ownership Interest in such Class R Certificate or
          any other Person as a result of its exercise of such discretion.
          Such purported Transferee shall promptly endorse and deliver such
          Class R Certificate in accordance with the instructions of the
          Trustee. Such Permitted Transferee may be the Trustee itself or any
          Affiliate of the Trustee.

               (iii) The Trustee shall make available to the IRS and to those
          Persons specified by the REMIC Provisions all information furnished
          to it by the other parties hereto necessary to compute any tax
          imposed (A) as a result of the Transfer of an Ownership Interest in
          a Class R Certificate to any Person who is a Disqualified
          Organization, 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" for the REMIC I Residual Interest, the
          REMIC II Residual Interest and the REMIC III Residual Interest and
          (B) as a result of any regulated investment company, real estate
          investment trust, common trust fund, partnership, trust, estate or
          organization described in Section 1381 of the Code that holds an
          Ownership Interest in a Class R Certificate having as among its
          record holders at any time any Person which is a Disqualified
          Organization, and each of the other parties hereto shall furnish to
          the Trustee all information in its possession necessary for the
          Trustee to discharge such obligation. The Person holding such
          Ownership Interest shall be responsible for the reasonable
          compensation of the Trustee for providing such information.

               (iv) The provisions of this Section 5.02(d) set forth prior to
          this clause (iv) may be modified, added to or eliminated; provided
          that there shall have been delivered to the Trustee the following:

                    (A)  written confirmation from each Rating Agency to the
                         effect that the modification of, addition to or
                         elimination of such provisions will not result in an
                         Adverse Rating Event with respect to any Class of
                         Rated Certificates; and

                    (B)  an Opinion of Counsel, in form and substance
                         satisfactory to the Trustee, obtained at the expense
                         of the party seeking such modification of, addition
                         to or elimination of such provisions (but in no event
                         at the expense of the Trustee or the Trust), to the
                         effect that doing so will not (1) cause any REMIC
                         Pool to cease to qualify as a REMIC or be subject to
                         an entity-level tax caused by the Transfer of any
                         Class R Certificate to a Person which is not a
                         Permitted Transferee or (2) cause a Person other than
                         the prospective Transferee to be subject to a
                         REMIC-related tax caused by the Transfer of a Class R
                         Certificate to a Person that is not a Permitted
                         Transferee.

          (e) If a Person is acquiring any Non-Registered Certificate as a
fiduciary or agent for one or more accounts, such Person shall be required to
deliver to the Certificate Registrar a certification to the effect that, and
such other evidence as may be reasonably required by the Trustee to confirm
that, it has (i) sole investment discretion with respect to each such account
and (ii) full power to make the applicable foregoing acknowledgments,
representations, warranties, certifications and/or agreements

                                    -222-
<PAGE>

 with respect to each such account as set forth in subsections (b),
(c) and/or (d), as appropriate, of this Section 5.02.

          (f) Subject to the preceding provisions of this Section 5.02, upon
surrender for registration of transfer of any Certificate at the offices of
the Certificate Registrar maintained for such purpose, the Trustee shall
execute and the Certificate Registrar shall authenticate and deliver, in the
name of the designated transferee or transferees, one or more new Certificates
of authorized denominations of the same Class evidencing a like aggregate
Percentage Interest.

          (g) At the option of any Holder, its Certificates may be exchanged
for other Certificates of authorized denominations of the same Class
evidencing a like aggregate Percentage Interest, upon surrender of the
Certificates to be exchanged at the offices of the Certificate Registrar
maintained for such purpose. Whenever any Certificates are so surrendered for
exchange, the Trustee shall execute and the Certificate Registrar shall
authenticate and deliver the Certificates which the Certificateholder making
the exchange is entitled to receive.

          (h) Every Certificate presented or surrendered for transfer or
exchange shall (if so required by the Certificate Registrar) be duly endorsed
by, or be accompanied by a written instrument of transfer in the form
satisfactory to the Certificate Registrar duly executed by, the Holder thereof
or his attorney duly authorized in writing.

          (i) No service charge shall be imposed for any transfer or exchange
of Certificates, but the Trustee or 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.

          (j) All Certificates surrendered for transfer and exchange shall be
physically canceled by the Certificate Registrar, and the Certificate
Registrar shall dispose of such canceled Certificates in accordance with its
standard procedures.

          (k) The Certificate Registrar or the Trustee shall provide to each
of the other parties hereto, upon reasonable written request and at the
expense of the requesting party, an updated copy of the Certificate Register.

          SECTION 5.03. Book-Entry Certificates.

          (a) The REMIC III Regular Interest Certificates shall, in the case
of each Class thereof, initially be issued (and, at the option of the
Depositor, subsequent to the Closing Date, all or any portion of any other
Class of Certificates may be issued) as one or more Certificates registered in
the name of the Depository or its nominee and, except as provided in Section
5.02(b) or Section 5.03(c), transfer of such Certificates may not be
registered by the Certificate Registrar unless such transfer is to a successor
Depository that agrees to hold such Certificates for the respective
Certificate Owners with Ownership Interests therein. Such Certificate Owners
shall hold and, subject to Section 5.02, transfer their respective Ownership
Interests in and to such Certificates through the book-entry facilities of the
Depository; and, except as provided in Section 5.02(b) or Section 5.03(c)
below, such Certificate Owners shall not be entitled to fully registered,
physical Certificates ("Definitive Certificates") in respect of such Ownership
Interests. All transfers by Certificate Owners of their respective Ownership
Interests in the Book-Entry Certificates shall be made in accordance with the
procedures established by

                                    -223-
<PAGE>

the Depository Participant or indirect participating brokerage firm
representing each such Certificate Owner. Each Depository Participant shall
only transfer the Ownership Interests in the Book-Entry Certificates of
Certificate Owners it represents or of indirect participating brokerage firms
for which it acts as agent in accordance with the Depository's normal
procedures.

          (b) Except as expressly provided to the contrary herein, the
Depositor, the Master Servicer, the Special Servicer, the Trustee and the
Certificate Registrar may for all purposes, including the making of payments
due on the Book-Entry Certificates, deal with the Depository as the authorized
representative of the Certificate Owners with respect to such Certificates for
the purposes of exercising the rights of Certificateholders hereunder. Except
as expressly provided to the contrary herein, the rights of Certificate Owners
with respect to the Book-Entry Certificates shall be limited to those
established by law and agreements between such Certificate Owners and the
Depository Participants and indirect participating brokerage firms
representing such Certificate Owners. Multiple requests and directions from,
and votes of, the Depository as Holder of the Book-Entry Certificates with
respect to any particular matter shall not be deemed inconsistent if they are
made with respect to different Certificate Owners. The Trustee may establish a
reasonable record date in connection with solicitations of consents from or
voting by Certificateholders and shall give notice to the Depository of such
record date.

          (c) If (i)(A) the Depositor advises the Trustee and the Certificate
Registrar in writing that the Depository is no longer willing or able to
discharge properly its responsibilities with respect to any Class of
Book-Entry Certificates, and (B) the Depositor is unable to locate a qualified
successor, or (ii) the Depositor at its option advises the Trustee and the
Certificate Registrar in writing that it elects to terminate the book-entry
system through the Depository with respect to all or any portion of any Class
of Book-Entry Certificates, the Certificate Registrar shall notify all
affected Certificate Owners, through the Depository, of the occurrence of any
such event and of the availability of Definitive Certificates to such
Certificate Owners requesting the same. Upon surrender to the Certificate
Registrar of any Class of Book-Entry Certificates (or any portion of any Class
thereof) by the Depository, accompanied by registration instructions from the
Depository for registration of transfer, the Trustee shall execute, and the
Certificate Registrar shall authenticate and deliver, the Definitive
Certificates in respect of such Class (or portion thereof) to the Certificate
Owners identified in such instructions. None of the Depositor, the Master
Servicer, the Special Servicer, the Trustee or the Certificate Registrar 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 for purposes of evidencing ownership of
any Book-Entry Certificates, the registered holders of such Definitive
Certificates shall be recognized as Certificateholders hereunder and,
accordingly, shall be entitled directly to receive payments on, to exercise
Voting Rights with respect to, and to transfer and exchange such Definitive
Certificates.

          SECTION 5.04. Mutilated, Destroyed, Lost or Stolen Certificates.

          If (i) 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 (ii) there is
delivered to the Trustee and the Certificate Registrar such security or
indemnity as may be reasonably required by them to save each of them harmless,
then, in the absence of actual notice to the Trustee or the Certificate
Registrar that such Certificate has been acquired by a bona fide purchaser,
the Trustee shall execute and the Certificate Registrar shall authenticate and
deliver, in

                                    -224-
<PAGE>

exchange for or in lieu of any such mutilated, destroyed, lost or
stolen Certificate, a new Certificate of the same Class and like Percentage
Interest. Upon the issuance of any new Certificate under this Section, the
Trustee and 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 reasonable expenses (including the
reasonable fees and expenses of the Trustee and the Certificate Registrar)
connected therewith. Any replacement Certificate issued pursuant to this
section shall constitute complete and indefeasible evidence of ownership in
the Trust Fund, as if originally issued, whether or not the lost, stolen or
destroyed Certificate shall be found at any time.

          SECTION 5.05. Persons Deemed Owners.

          Prior to due presentment for registration of transfer, the
Depositor, the Master Servicer, the Special Servicer, the Trustee, the
Certificate Registrar and any agent of any of them may treat the Person in
whose name any Certificate is registered as the owner of such Certificate for
the purpose of receiving distributions pursuant to Section 4.01 and for all
other purposes whatsoever, and none of the Depositor, either Master Servicer,
either Special Servicer, the Trustee, the Certificate Registrar or any agent
of any of them shall be affected by notice to the contrary.

          SECTION 5.06. Certification by Certificateholders and Certificate
Owners.

          (a) Each Certificate Owner is hereby deemed by virtue of its
acquisition of an Ownership Interest in the Book-Entry Certificates to agree
to comply with the transfer requirements of Section 5.02.

          (b) To the extent that it is necessary, pursuant to the terms of
this Agreement, to determine whether any Person is a Certificateholder or a
Certificate Owner, the Trustee shall make such determination based on a
certificate of such Person, which certificate shall be in such form as shall
be reasonably acceptable to the Trustee and shall specify the Class and
Certificate Principal Balance or Certificate Notional Amount, as the case may
be, of the Book-Entry Certificate beneficially owned; provided, however, that
the Trustee shall not knowingly recognize such Person as a Certificate Owner
if such Person, to the knowledge of a Responsible Officer of the Trustee,
acquired its Ownership Interest in a Book-Entry Certificate in violation of
Section 5.02, or if such Person's certification that it is a Certificate Owner
is in direct conflict with information obtained by the Trustee from the
Depository, Depository Participants and/or indirect participating brokerage
firms for which Depository Participants act as agents, with respect to the
identity of a Certificate Owner. The Trustee shall exercise its reasonable
discretion in making any determination under this Section 5.06(b) and shall
afford any Person providing information with respect to its beneficial
ownership of any Book-Entry Certificate an opportunity to resolve any
discrepancies between the information provided and any other information
available to the Trustee.

                                    -225-
<PAGE>

                                  ARTICLE VI

          THE DEPOSITOR, THE MASTER SERVICER AND THE SPECIAL SERVICER

          SECTION 6.01. Liability of the Depositor, the Master Servicer and
                        the Special Servicer.

          The Depositor, the Master Servicer and the Special Servicer shall be
liable in accordance herewith only to the extent of the respective obligations
specifically imposed upon and undertaken by the Depositor, the Master Servicer
and the Special Servicer herein.

          SECTION 6.02. Merger, Consolidation or Conversion of the Depositor,
                        the Master Servicer or the Special Servicer.

          (a) Subject to subsection (b) below, the Depositor, the Master
Servicer and the Special Servicer each will keep in full effect its existence,
rights and franchises under the laws of the jurisdiction of its incorporation
or organization, and each will obtain and preserve its qualification to do
business as a foreign corporation or limited partnership in each jurisdiction
in which such qualification is or shall be necessary to protect the validity
and enforceability of the Mortgage Loans and to perform its respective duties
under this Agreement.

          (b) The Depositor, the Master Servicer and the Special Servicer each
may be merged or consolidated with or into any Person (other than the
Trustee), or transfer all or substantially all of its assets to any Person
(other than the Trustee), in which case any Person resulting from any merger
or consolidation to which the Depositor, the Master Servicer or the Special
Servicer shall be a party, or any Person succeeding to the business of the
Depositor, the Master Servicer or the Special Servicer, shall be the successor
of the Depositor, the Master Servicer and the Special Servicer, as the case
may be, hereunder, without the execution or filing of any paper (other than an
assumption agreement wherein the successor shall agree to perform the
obligations of and serve as the Depositor, the Master Servicer or the Special
Servicer, as the case may be, in accordance with the terms of this Agreement)
or any further act on the part of any of the parties hereto, anything herein
to the contrary notwithstanding; provided, however, that such merger,
consolidation or succession will not or has not resulted in a withdrawal,
downgrading or qualification of the then-current ratings of the Classes of
Certificates that have been so rated (as evidenced by a letter to such effect
from each Rating Agency).

          SECTION 6.03. Limitation on Liability of the Trustee, the Depositor,
                        the Master Servicer, the Special Servicer and Others.

          (a) None of the Depositor, the Trustee, the Master Servicer, the
Special Servicer nor any of the Affiliates, directors, partners, members,
managers, shareholders, officers, employees or agents of any of them shall be
under any liability to the Trust Fund, the Underwriters, the parties hereto,
the Certificateholders or any other Person for any action taken or for
refraining from the taking of any action in good faith pursuant to this
Agreement, or for errors in judgment; provided, however, that this provision
shall not protect the Depositor, the Trustee, the Master Servicer or the
Special Servicer against any breach of warranties or representations made
herein or any liability which would otherwise be imposed by reason of willful
misfeasance, bad faith or negligence in the performance of duties or by reason
of negligent disregard of obligations and duties hereunder. The Depositor, the
Master Servicer,

                                    -226-
<PAGE>

the Special Servicer, the Trustee and any director, officer, employee
or agent of the Depositor, the Trustee, the Master Servicer or the
Special Servicer may rely in good faith on any document of any kind which,
prima facie, is properly executed and submitted by any Person respecting any
matters arising hereunder.

          The Depositor, the Master Servicer, the Special Servicer, the
Trustee and any Affiliate, director, shareholder, member, partner, manager,
officer, employee or agent of any of the foregoing shall be indemnified and
held harmless by the Trust Fund out of the Collection Account or the
Distribution Account, as applicable in accordance with Section 3.05 (or,
insofar as a Mortgage Loan Combination is involved, and to the extent
permitted by the related A/B Intercreditor Agreement or the Mayfair Mall
Intercreditor Agreement, as applicable, out of amounts attributable to such
Mortgage Loan Combination on deposit in the related Mortgage Loan Combination
Custodial Account as provided in Section 3.04), against any loss, liability or
expense (including legal fees and expenses) incurred in connection with any
legal action or claim relating to this Agreement, the Trust Mortgage Loans or
the Certificates, other than any loss, liability or expense: (i) specifically
required to be borne thereby pursuant to the terms hereof or that would
otherwise constitute a Servicing Advance; (ii) incurred in connection with any
breach of a representation or warranty made by it herein; (iii) incurred by
reason of bad faith, willful misconduct or negligence in the performance of
its obligations or duties hereunder, or by reason of negligent disregard of
such obligations or duties or (iv) in the case of the Depositor and any of its
directors, officers, employees and agents, incurred in connection with any
violation by any of them of any state or federal securities law.

          (b) None of the Depositor, the Trustee, the Master Servicer or the
Special Servicer shall be under any obligation to appear in, prosecute or
defend any legal or administrative action, proceeding, hearing or examination
that is not incidental to its respective duties under this Agreement and which
in its opinion may involve it in any expense or liability which it is not
reasonably assured of reimbursement thereof by the Trust; provided, however,
that the Depositor, the Master Servicer, the Special Servicer or the Trustee
may in its discretion undertake any such action, proceeding, hearing or
examination that it may deem necessary or desirable in respect to this
Agreement and the rights and duties of the parties hereto and the interests of
the Certificateholders hereunder. In such event, the legal fees, expenses and
costs of such action, proceeding, hearing or examination and any liability
resulting therefrom shall be expenses, costs and liabilities of the Trust
Fund, and the Depositor, the Master Servicer, the Special Servicer and the
Trustee shall be entitled to be reimbursed therefor out of amounts
attributable to the Mortgage Loans on deposit in the Collection Account as
provided by Section 3.05(a) (or, insofar as a Mortgage Loan Combination is
involved, and to the extent permitted by the related A/B Intercreditor
Agreement or the Mayfair Mall Intercreditor Agreement, as applicable, out of
amounts attributable to such Mortgage Loan Combination on deposit in the
related Mortgage Loan Combination Custodial Account as provided in Section
3.04).

          (c) Each of the Master Servicer and the Special Servicer agrees to
indemnify the Depositor, the Trust Fund and the Trustee, and hold it harmless,
from and against any and all claims, losses, penalties, fines, forfeitures,
reasonable legal fees and related out-of-pocket costs, judgments, and any
other out-of-pocket costs, liabilities, fees and expenses that any of them may
sustain arising from or as a result of any willful misfeasance, bad faith or
negligence of the Master Servicer or the Special Servicer, as the case may be,
in the performance of its obligations and duties under this Agreement or by
reason of negligent disregard by the Master Servicer or the Special Servicer,
as the case may be, of its duties and obligations hereunder or by reason of
breach of any representations or warranties made by it

                                    -227-
<PAGE>

herein. The Master Servicer and 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 in accordance with the
Servicing Standard and in accordance with such advice or Opinion of Counsel
relating to (i) tax matters, (ii) any amendment of this Agreement under
Article XI, (iii) the defeasance of any Defeasance Mortgage Loan or (iv) any
matter involving legal proceeding with a Borrower.

          The Trustee shall immediately notify the Master Servicer or the
Special Servicer, as applicable, if a claim is made by a third party with
respect to this Agreement or the Mortgage Loans entitling the Trust Fund or
the Trustee to indemnification hereunder, whereupon the Master Servicer or
Special Servicer, as the case may be, shall assume the defense of such claim
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 or Special Servicer, as the case may be, shall not affect
any rights that the Trust Fund or the Trustee, as the case may be, may have to
indemnification under this Agreement or otherwise, unless the Master
Servicer's or Special Servicer's, as the case may be, 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 indemnifying party.

          The Depositor shall immediately notify the Master Servicer or the
Special Servicer, as applicable, if a claim is made by a third party with
respect to this Agreement or the Mortgage Loans entitling the Depositor to
indemnification hereunder, whereupon the Master Servicer or Special Servicer,
as the case may be, shall assume the defense of such claim 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
or Special Servicer, as the case may be, shall not affect any rights that the
Depositor may have to indemnification under this Agreement or otherwise,
unless the Master Servicer's or Special Servicer's, as the case may be,
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 indemnifying party.

          The Depositor agrees to indemnify the Master Servicer, the Special
Servicer and the Trustee and any Affiliate, director, officer, employee or
agent thereof, and hold them harmless, from and against any and all claims,
losses, penalties, fines, forfeitures, reasonable legal fees and related
out-of-pocket costs, judgments, and any other out-of-pocket costs,
liabilities, fees and expenses that any of them may sustain arising from or as
a result of any breach of representations and warranties or failure in the
performance of the Depositor's obligations and duties under this Agreement.
The Master Servicer, the Special Servicer or the Trustee, as applicable, shall
immediately notify the Depositor if a claim is made by a third party with
respect to this Agreement or the Mortgage Loans entitling it to
indemnification hereunder, whereupon the Depositor shall assume the defense of
such claim 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 that any of the foregoing
Persons may have to indemnification under this Agreement or otherwise, unless
the Depositor's defense of such claim is materially prejudiced thereby. The
indemnification provided herein shall survive the termination of this
Agreement.

                                    -228-
<PAGE>

          The Trustee agrees to indemnify the Master Servicer, the Special
Servicer and the Depositor and any Affiliate, director, officer, employee or
agent thereof, and hold them harmless, from and against any and all claims,
losses, penalties, fines, forfeitures, reasonable legal fees and related
out-of-pocket costs, judgments, and any other out-of-pocket costs,
liabilities, fees and expenses that any of them may sustain arising from or as
a result of any breach of representations and warranties made by it herein or
as a result of any willful misfeasance, bad faith or negligence of the Trustee
in the performance of its obligations and duties under this Agreement or the
negligent disregard by the Trustee of its duties and obligations hereunder.
The Depositor, Master Servicer or the Special Servicer, as applicable, shall
immediately notify the Trustee if a claim is made by a third party with
respect to this Agreement or the Mortgage Loans entitling it to
indemnification hereunder, whereupon the Trustee shall assume the defense of
such claim 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 shall not affect any rights that any of the foregoing
Persons may have to indemnification under this Agreement or otherwise, unless
the Trustee'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 indemnifying party.

          SECTION 6.04. Master Servicer and Special Servicer Not to Resign.

          Subject to the provisions of Section 6.02, neither the Master
Servicer nor the Special Servicer shall resign from their respective
obligations and duties hereby imposed on each of them except upon (a) a
determination that such party'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 (the other activities of the Master
Servicer or the Special Servicer, as the case may be, so causing such a
conflict being of a type and nature carried on by the Master Servicer or the
Special Servicer, as the case may be, at the date of this Agreement) or (b)
upon the appointment of, and the acceptance of such appointment by, a
successor Master Servicer or Special Servicer, as applicable, and receipt by
the Trustee of written confirmation from each applicable Rating Agency that
such resignation and appointment will not cause such Rating Agency to
downgrade, withdraw or qualify any of then-current ratings assigned by such
Rating Agency to any Class of Certificates. Any such determination permitting
the resignation of the Master Servicer or the Special Servicer pursuant to
above clause (a) above shall be evidenced by an Opinion of Counsel (the cost
of which, together with any other expenses of such resignation, shall be at
the expense of the resigning party) to such effect delivered to the Trustee.
No such resignation by the Master Servicer or the Special Servicer shall
become effective until the Trustee or a successor Master Servicer shall have
assumed the Master Servicer's or Special Servicer's, as applicable,
responsibilities and obligations in accordance with Section 7.02; provided
that, if no successor master servicer or special servicer, as applicable,
shall have been so appointed and have accepted appointment within 90 days
after the Master Servicer or the Special Servicer, as the case may be, has
given notice of such resignation, the resigning Master Servicer or Special
Servicer, as applicable, may petition any court of competent jurisdiction for
the appointment of a successor thereto.

          SECTION 6.05. Rights of the Depositor in Respect of the Master
                        Servicer and the Special Servicer.

          The Depositor may, but is not obligated to, enforce the obligations
of the Master Servicer and the Special Servicer hereunder and may, but is not
obligated to, perform, or cause a designee to perform, any defaulted
obligation of the Master Servicer and the Special Servicer hereunder or
exercise

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<PAGE>

the rights of the Master Servicer or Special Servicer, as applicable,
hereunder; provided, however, that the Master Servicer and the Special
Servicer shall not be relieved of any of their respective obligations
hereunder by virtue of such performance by the Depositor or its designee. The
Depositor shall not have any responsibility or liability for any action or
failure to act by the Master Servicer or the Special Servicer and is not
obligated to supervise the performance of the Master Servicer or the Special
Servicer under this Agreement or otherwise.

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                                 ARTICLE VII

                                    DEFAULT

          SECTION 7.01. Events of Default; Master Servicer and Special
                        Servicer Termination.

          (a) "Event of Default", wherever used herein, means any one of the
following events:

               (i) any failure by the Master Servicer or the Special Servicer
          to deposit, or to remit to the appropriate party for deposit, into
          the Collection Account or the REO Account, as appropriate, any
          amount required to be so deposited or remitted, which failure
          continues unremedied for two Business Days following the date on
          which the deposit or remittance was required to be made;

               (ii) any failure by the Master Servicer to remit to the Trustee
          for deposit in the Distribution Account or to any Non-Trust
          Companion Loan Holder any amount required to be so remitted, which
          failure continues unremedied beyond 11:00 a.m. on the Business Day
          immediately following the date on which the remittance was required
          to be made;

               (iii) any failure by the Master Servicer to timely make any
          Servicing Advance required to be made by it under this Agreement,
          which failure continues unremedied for three Business Days following
          the date on which written notice of such failure, requiring the same
          to be remedied, has been given to the Master Servicer by any party
          to this Agreement;

               (iv) any failure by the Master Servicer or the Special Servicer
          to observe or perform in any material respect any of its other
          covenants or agreements under this Agreement which failure continues
          unremedied for 30 days after written notice of such failure,
          requiring the same to be remedied, has been given to the Master
          Servicer or the Special Servicer, as the case may be, by any other
          party to this Agreement, by the Series 2003-C4 Directing
          Certificateholder, by any Mayfair Mall Non-Trust Companion Loan
          Holder or by Certificateholders entitled to not less than 25% of the
          Voting Rights; provided, however, that, with respect to any such
          failure that is not curable within such 30-day period, the Master
          Servicer or the Special Servicer, as appropriate, will have an
          additional cure period of 30 days to effect such cure so long as the
          Master Servicer or the Special Servicer, as appropriate, has
          commenced to cure such failure within the initial 30-day period and
          has diligently pursued, and is continuing to pursue, a full cure;

               (v) it is determined that there is a breach by the Master
          Servicer or the Special Servicer of any of its representations or
          warranties contained in this Agreement that materially and adversely
          affects the interests of any Class of Certificateholders or any
          Mayfair Mall Non-Trust Companion Loan Holder, which breach continues
          unremedied for 30 days after written notice of such failure,
          requiring the same to be remedied, has been given to the Master
          Servicer or the Special Servicer, as the case may be, by any other
          party to this Agreement, by the Series 2003-C4 Directing
          Certificateholder, by any Mayfair Mall Non-Trust Companion Loan
          Holder or by Certificateholders entitled to not less than 25% of the
          Voting Rights; provided, however, that, with respect to any such
          breach that is not curable within such 30-day period the Master

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          Servicer or the Special Servicer, as appropriate, will have an
          additional cure period of 30 days to effect such cure so long as the
          Master Servicer or the Special Servicer, as appropriate, has
          commenced to cure such breach within the initial 30-day period and
          has diligently pursued, and is continuing to pursue, a full cure;

               (vi) a decree or order of a court having jurisdiction in an
          involuntary case for the appointment of a receiver, liquidator,
          trustee or similar official in any bankruptcy, insolvency,
          readjustment of debt, marshalling of assets and liabilities or
          similar proceedings is entered against the Master Servicer or the
          Special Servicer and the decree or order remains in force for a
          period of 60 days; provided, however, that, with respect to any such
          decree or order that cannot be discharged, dismissed or stayed
          within such 60-day period the Master Servicer or the Special
          Servicer, as appropriate, will have an additional period of 30 days
          to effect such discharge, dismissal or stay so long as the Master
          Servicer or the Special Servicer, as appropriate, has commenced
          proceedings to have such decree or order dismissed, discharged or
          stayed within the initial 60-day period and has diligently pursued,
          and is continuing to pursue, such discharge, dismissal or stay;

               (vii) the Master Servicer or the Special Servicer consents to
          the appointment of a receiver, liquidator, trustee or similar
          official relating to it or of or relating to all or substantially
          all of its property;

               (viii) the Master Servicer or the Special Servicer admits in
          writing its inability to pay its debts or takes other actions
          indicating its insolvency or inability to pay its obligations;

               (ix) Moody's has (A) qualified, downgraded or withdrawn its
          rating or ratings of one or more Classes of Certificates or (B)
          placed one or more Classes of Certificates on "watch status" in
          contemplation of possible rating downgrade or withdrawal (and such
          "watch status" placement shall not have been withdrawn by Moody's
          within 60 days of such placement), and, in case of either clauses
          (A) or (B), Moody's has cited servicing concerns with the Master
          Servicer or the Special Servicer, as the case may be, as the sole or
          a material factor in such rating action; or

               (x) the Master Servicer is removed from S&P's approved Master
          Servicer list, or the Special Servicer is removed from S&P's
          approved Special Servicer list, and the Master Servicer or the
          Special Servicer, as the case may be, is not reinstated to that list
          within 60 days after its removal therefrom.

          (b) If any Event of Default with respect to the Master Servicer or
Special Servicer (in either case, for purposes of this Section 7.01(b), the
"Defaulting Party") shall occur and be continuing, then, and in each and every
such case, so long as such Event of Default shall not have been remedied, the
Trustee may, and at the written direction of the Holders of Certificates
entitled to at least 25% of the Voting Rights or, if it is materially and
adversely affected by the subject Event of Default, any Mayfair Mall Non-Trust
Companion Loan Holder, shall, terminate, by notice in writing to the
Defaulting Party (a "Termination Notice"), with a copy of such notice to the
Depositor and the Certificate Registrar, all of the rights and obligations of
the Defaulting Party under this Agreement and in and to the Mortgage Loans and
the proceeds thereof (other than any rights the Defaulting Party may have as a
Holder of any Certificate or as a Non-Trust Companion Loan Holder); provided,
however, that the Defaulting Party shall be entitled to the payment of accrued
and unpaid compensation and reimbursement through the

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<PAGE>

date of such termination, as well as amounts due to it thereafter,
if any, including with respect to the Excess Servicing Strip, as provided for
under this Agreement for services rendered and expenses incurred.

          From and after the receipt by the Defaulting Party of such written
notice, all authority and power of the Defaulting Party under this Agreement,
whether with respect to the Certificates (other than as a Holder of any
Certificate) or the Mortgage Loans (other than as a Non-Trust Companion Loan
Holder) or otherwise, shall pass to and be vested in the Trustee pursuant to
and under this section, and, without limitation, the Trustee is hereby
authorized and empowered to execute and deliver, on behalf of and at the
expense of the Defaulting Party, 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 and Special Servicer each agree that if it is
terminated pursuant to this Section 7.01(b), it shall promptly (and in any
event no later than 20 Business Days after its receipt of the notice of
termination) provide the Trustee with all documents and records requested by
it to enable the Trustee to assume the Master Servicer's or the Special
Servicer's, as the case may be, functions hereunder, and shall cooperate with
the Trustee in effecting the termination of the Master Servicer's or the
Special Servicer's, as the case may be, responsibilities and rights hereunder,
including, without limitation, the transfer within five Business Days to the
Trustee for administration by it of all cash amounts which shall at the time
be or should have been credited by the Master Servicer to the Collection
Account or any Mortgage Loan Combination Custodial Account, Servicing Account,
Cash Collateral Account or Lock-Box Account (if it is the Defaulting Party) or
by the Special Servicer to the REO Account (if it is the Defaulting Party) or
may thereafter be received with respect to the Mortgage Loans or any REO
Property (provided, however, that the Master Servicer and Special Servicer
each shall, if terminated pursuant to this Section 7.01(b), continue to be
entitled to receive all amounts accrued or owing to it under this Agreement on
or prior to the date of such termination, whether in respect of Advances (in
the case of the Master Servicer) or otherwise, as well as amounts due to it
thereafter, if any, and it and its directors, officers, employees and agents
shall continue to be entitled to the benefits of Section 6.03 notwithstanding
any such termination).

          (c) Subject to the next paragraph. the Holder or Holders of
Certificates representing more than 50% of the Class Principal Balance of the
Controlling Class shall be entitled to terminate the rights and obligations of
the Special Servicer under this Agreement, with or without cause, upon 10
Business Days prior written notice to the Master Servicer, the Special
Servicer and the Trustee, and to appoint a successor Special Servicer;
provided, however, that (i) such successor shall meet the requirements set
forth in Section 7.02, (ii) as evidenced in writing by each of the Rating
Agencies, the proposed replacement of the Special Servicer shall not, in and
of itself, result in a downgrading, withdrawal or qualification of the
then-current ratings provided by the Rating Agencies with respect to any Class
of then outstanding Certificates that is rated, and (iii) the Trustee shall
have received (A) an Acknowledgment of Proposed Special Servicer in the form
attached hereto as Exhibit I, executed by the Person designated to be the
successor to such terminated Special Servicer, and (B) an Opinion of Counsel
(which shall not be an expense of the Trustee or the Trust) substantially to
the effect that (1) the removal of such terminated Special Servicer and/or the
appointment of the Person designated to serve as successor thereto is in
compliance with this Section 7.01(c), (2) such designated Person is duly
organized, validly existing and in good standing under the laws of the
jurisdiction of its organization,

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<PAGE>

(3) the Acknowledgment of Proposed Special Servicer, the form of
which is attached hereto as Exhibit I, has been duly authorized, executed and
delivered by such designated Person and (4) upon the execution and delivery of
the Acknowledgment of Proposed Special Servicer, such designated Person shall
be bound by the terms of this Agreement and, subject to customary bankruptcy
and insolvency exceptions and customary equity exceptions, this Agreement
shall be enforceable against such designated Person in accordance with its
terms. Any Special Servicer terminated pursuant to this Section 7.01(c) shall
be deemed to have been so terminated simultaneously with the designated
successor's becoming such Special Servicer hereunder; provided that (i) the
terminated Special Servicer shall be entitled to receive, in connection with
its termination, payment out of the Collection Account and, if and to the
extent applicable, the Mortgage Loan Combination Custodial Accounts of all of
its accrued and unpaid Special Servicing Fees, as and to the extent provided
in Sections 3.05(a), 3.04(e) and 3.04(f), and reimbursement from the successor
to such terminated Special Servicer of all outstanding Servicing Advances made
by such terminated Special Servicer and all unpaid Advance Interest accrued on
such outstanding Servicing Advances (in which case the successor to such
terminated Special Servicer shall be deemed to have made such Servicing
Advances at the same time that such terminated Special Servicer had actually
made them), (ii) such terminated Special Servicer shall thereafter be entitled
to Workout Fees, as and to the extent expressly permitted by Section 3.11(b),
and (iii) such terminated Special Servicer shall continue to be entitled to
the benefits of Section 6.03, notwithstanding any such termination; and
provided, further, that such terminated Special Servicer shall continue to be
obligated to pay (and entitled to receive) all other amounts accrued to (or
owing by) it under this Agreement on or prior to the effective date of such
termination. Such terminated Special Servicer shall cooperate with the Trustee
and the replacement to such terminated Special Servicer in effecting the
transfer of such terminated Special Servicer's responsibilities and rights
hereunder to its successor, including the transfer within two Business Days of
its termination becoming effective pursuant to this Section 7.01(c), to the
replacement to such terminated Special Servicer for administration by it of
all cash amounts that at the time are or should have been credited by such
terminated Special Servicer to the REO Account or to any Servicing Account or
should have been delivered to the Master Servicer or that are thereafter
received by or on behalf of such terminated Special Servicer with respect to
any Mortgage Loan or REO Property. No penalty or fee shall be payable to the
Special Servicer with respect to any termination pursuant to this Section
7.01(c). Any expenses of the Trust as a result of any termination pursuant to
this Section 7.01(c) shall be paid by the Holders who effected such
termination.

          Notwithstanding the foregoing, the Holder or Holders of Certificates
representing more than 50% of the Class Principal Balance of the Controlling
Class shall not be permitted, pursuant to this Section 7.01(c), to replace any
Mayfair Mall Special Servicer appointed pursuant to Section 3.31(j). If any
Mayfair Mall Special Servicer has been appointed pursuant to Section 3.31(j),
then any replacement of the Special Servicer pursuant to the prior paragraph
shall apply solely to the General Special Servicer and the portion of the
Mortgage Pool that is exclusive of the Mayfair Mall Trust Mortgage Loan or any
successor REO Trust Mortgage Loan with respect thereto.

          (d) The Master Servicer and Special Servicer shall, from time to
time, take all such actions as are required by them in order to maintain their
respective status as an approved servicer and special servicer, as applicable,
and as pertains to this transaction, with each of the Rating Agencies.

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<PAGE>

          SECTION 7.02. Trustee to Act; Appointment of Successor.

          On and after the time the Master Servicer or the Special Servicer,
as the case may be, either resigns pursuant to clause (a) of the first
sentence of Section 6.04(a) or receives a notice of termination for cause
pursuant to Section 7.01(b); and provided that no acceptable successor has
been appointed, the Trustee shall be and become the successor to the Master
Servicer or Special Servicer, as the case may be, in all respects in its
capacity as Master Servicer or Special Servicer under this Agreement and the
transactions set forth or provided for herein and shall be subject to all the
responsibilities, duties, liabilities and limitations on liability relating
thereto and that arise thereafter placed on or for the benefit of the Master
Servicer or Special Servicer by the terms and provisions hereof; provided,
however, that any failure to perform such duties or responsibilities caused by
the terminated party's failure under Section 7.01 to provide information or
moneys required hereunder shall not be considered a default by such successor
hereunder.

          The appointment of a successor Master Servicer shall not affect any
liability of the predecessor Master Servicer which may have arisen prior to
its termination as Master Servicer, and the appointment of a successor Special
Servicer shall not affect any liability of the predecessor Special Servicer
which may have arisen prior to its termination as Special Servicer. The
Trustee in its capacity as successor to the Master Servicer or the Special
Servicer, as the case may be, shall not be liable for any of the
representations and warranties of the Master Servicer or the Special Servicer,
respectively, herein or in any related document or agreement, for any acts or
omissions of the predecessor Master Servicer or Special Servicer or for any
losses incurred by the Master Servicer pursuant to Section 3.06 hereunder, nor
shall the Trustee be required to purchase any Trust Mortgage Loan hereunder.

          As compensation therefor, the Trustee as successor Master Servicer
shall be entitled to the Master Servicing Fees and all fees relating to the
Trust Mortgage Loans and the Mayfair Mall Non-Trust Companion Loans which the
Master Servicer would have been entitled to if the Master Servicer had
continued to act hereunder (subject to Section 3.11(a) with respect to the
Excess Servicing Strip), including but not limited to any income or other
benefit from any Permitted Investment of funds in a Master Servicer Account
pursuant to Section 3.06, and as successor to the Special Servicer shall be
entitled to the Special Servicing Fees to which the Special Servicer would
have been entitled if the Special Servicer had continued to act hereunder.
Should the Trustee succeed to the capacity of the Master Servicer or the
Special Servicer, the Trustee shall be afforded the same standard of care and
liability as the Master Servicer or the Special Servicer, as applicable,
hereunder notwithstanding anything in Section 8.01 to the contrary, but only
with respect to actions taken by it in its role as successor Master Servicer
or successor Special Servicer, as the case may be, and not with respect to its
role as Trustee hereunder.

          Notwithstanding the above, the Trustee may, if it shall be unwilling
to act as successor to the Master Servicer or Special Servicer, or shall, if
it is unable to so act, or if the Trustee is not approved as a master servicer
or special servicer, as applicable, by each Rating Agency, or if the Holders
of Certificates entitled to a majority of the Voting Rights so request in
writing to the Trustee, promptly appoint, or petition a court of competent
jurisdiction to appoint, any established mortgage loan servicing institution
which meets the criteria set forth herein, as the successor to the Master
Servicer or the Special Servicer, as applicable, hereunder in the assumption
of all or any part of the responsibilities, duties or liabilities of the
Master Servicer or Special Servicer hereunder. No appointment of a successor
to the Master Servicer or the Special Servicer under this Section 7.02 shall
be effective (i) until each of the

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<PAGE>

Rating Agencies shall have confirmed in writing that its then-current
rating (if any) of each Class of Certificates will not be qualified
(as applicable), downgraded or withdrawn by reason thereof and (ii)
until the assumption in writing by the successor to the Master Servicer or the
Special Servicer of all its responsibilities, duties and liabilities hereunder
that arise thereafter. Pending appointment of a successor to the Master
Servicer or the Special Servicer hereunder, unless the Trustee shall be
prohibited by law from so acting, the Trustee shall act in such capacity as
herein above provided.

          In connection with such appointment and assumption of a successor to
the Master Servicer or Special Servicer as described herein, subject to
Section 3.11(a), the Trustee may make such arrangements for the compensation
of such successor out of payments on the Trust Mortgage Loans and the Mayfair
Mall Non-Trust Companion Loans as it and such successor shall agree; provided,
however, that no such compensation with respect to a successor Master Servicer
or successor Special Servicer, as the case may be, shall be in excess of that
permitted the terminated Master Servicer or Special Servicer, as the case may
be, hereunder; provided, further, that if no successor can be obtained for
such compensation, then, subject to approval by the Rating Agencies,
additional amounts shall be paid to such successor and such amounts in excess
of that permitted the terminated Master Servicer or Special Servicer, as the
case may be, shall be treated as Additional Trust Fund Expenses. The Trustee,
the Master Servicer or the Special Servicer (whichever is not the terminated
party) and such successor shall take such action, consistent with this
Agreement, as shall be necessary to effectuate any such succession. Any costs
and expenses associated with the transfer of the servicing function (other
than with respect to a termination without cause) under this Agreement shall
be borne by the predecessor Master Servicer or Special Servicer.

          SECTION 7.03. Notification to Certificateholders.

          (a) Upon any resignation of the Master Servicer or the Special
Servicer pursuant to Section 6.04, any termination of the Master Servicer or
the Special Servicer pursuant to Section 7.01 or any appointment of a
successor to the Master Servicer or the Special Servicer pursuant to Section
7.02, the Trustee shall give prompt written notice thereof to
Certificateholders at their respective addresses appearing in the Certificate
Register.

          (b) Not later than the later of (i) 60 days after the occurrence of
any event which constitutes or, with notice or lapse of time or both, would
constitute an Event of Default and (ii) 5 days after the Trustee would be
deemed to have notice of the occurrence of such an event in accordance with
Section 8.02(vii), the Trustee shall transmit by mail to the Depositor and all
Certificateholders notice of such occurrence, unless such default shall have
been cured.

          SECTION 7.04. Waiver of Events of Default.

          The Holders of Certificates representing at least 66 2/3% of the
Voting Rights allocated to each Class of Certificates affected by any Event of
Default hereunder may waive such Event of Default within 20 days of the
receipt of notice from the Trustee of the occurrence of such Event of Default;
provided, however, that an Event of Default described in clause (i) or (ii) of
Section 7.01(a) may only be waived by 100% of the Certificateholders of the
affected Classes; and provided, further, that a Mayfair Mall Non-Trust
Companion Mortgage Loan Holder must consent to the waiver of any Event of
Default that materially and adversely affects such holder and which has not
been cured. Upon any such waiver of an Event of Default and reimbursement by
the party requesting such waiver to the Trustee of all costs and expenses
incurred by it in connection with such Event of Default and prior to its

                                    -236-
<PAGE>

waiver, such Event of Default shall cease to exist and shall be deemed to have
been remedied for every purpose hereunder. No such waiver shall extend to any
subsequent or other Event of Default or impair any right consequent thereon
except to the extent expressly so waived. Notwithstanding any other provisions
of this Agreement, for purposes of waiving any Event of Default pursuant to
this Section 7.04, Certificates registered in the name of the Depositor or any
Affiliate of the Depositor shall be entitled to the same Voting Rights with
respect to the matters described above as they would if any other Person held
such Certificates.

          SECTION 7.05. Trustee Advances.

          If the Master Servicer fails to fulfill its obligations hereunder to
make any Advances, the Trustee shall perform such obligations (x) in
accordance with Section 3.03(d) with respect to Servicing Advances and (y) by
12:00 noon, New York City time, on the related Distribution Date with respect
to P&I Advances. With respect to any such Advance made by the Trustee, the
Trustee shall succeed to all of the Master Servicer's rights with respect to
Advances hereunder, including, without limitation, the Master Servicer's
rights of reimbursement and interest on each Advance at the Reimbursement
Rate, and rights to determine that a proposed Advance is a Nonrecoverable P&I
Advance or Servicing Advance, as the case may be (without regard to any
impairment of any such rights of reimbursement caused by the Master Servicer's
default in its obligations hereunder); provided, however, that if Advances
made by both the Trustee and the Master Servicer shall at any time be
outstanding, or any interest on any Advance shall be accrued and unpaid, all
amounts available to repay such Advances and the interest thereon hereunder
shall be applied entirely to the Advances outstanding to the Trustee, until
such Advances shall have been repaid in full, together with all interest
accrued thereon, prior to reimbursement of the Master Servicer for such
Advances. The Trustee shall be entitled to conclusively rely on any notice
given with respect to a Nonrecoverable Advance hereunder.

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<PAGE>

                                 ARTICLE VIII

                            CONCERNING THE TRUSTEE

          SECTION 8.01. Duties of Trustee.

          (a) The Trustee, prior to the occurrence of an Event of Default and
after the curing or waiving of all Events of Default which may have occurred,
undertakes to perform such duties and only such duties as are specifically set
forth in this Agreement. If an Event of Default occurs and is continuing, then
(subject to Section 8.02(vii) below) the Trustee shall exercise such of the
rights and powers vested in it by this Agreement, and use the same degree of
care and skill in their exercise as a prudent man would exercise or use under
the circumstances in the conduct of his own affairs. Any permissive right of
the Trustee contained in this Agreement shall not be construed as a duty.

          (b) The Trustee, upon receipt of all resolutions, certificates,
statements, opinions, reports, documents, orders or other instruments
furnished to the Trustee which are specifically required to be furnished
pursuant to any provision of this Agreement (other than the Mortgage Files,
the review of which is specifically governed by the terms of Article II),
shall examine them to determine whether they conform to the requirements of
this Agreement. If any such instrument is found not to conform to the
requirements of this Agreement in a material manner, the Trustee shall make a
request to the responsible party to have the instrument corrected. The Trustee
shall not be responsible for the accuracy or content of any resolution,
certificate, statement, opinion, report, document, order or other instrument
furnished by the Depositor, the Master Servicer or the Special Servicer, and
accepted by the Trustee in good faith, pursuant to this Agreement.

          (c) No provision of this Agreement shall be construed to relieve the
Trustee from liability for its own negligent action, its own negligent failure
to act or its own willful misconduct; provided, however, that:

               (i) Prior to the occurrence of an Event of Default, and after
          the curing of all such Events of Default which may have occurred,
          the duties and obligations of the Trustee shall be determined solely
          by the express provisions of this Agreement, the Trustee shall not
          be liable except for the performance of such duties and obligations
          as are specifically set forth in this Agreement, no implied
          covenants or obligations shall be read into this Agreement against
          the Trustee and, in the absence of bad faith on the part of the
          Trustee, the Trustee may conclusively rely, as to the truth of the
          statements and the correctness of the opinions expressed therein,
          upon any certificates or opinions furnished to the Trustee and
          conforming to the requirements of this Agreement;

               (ii) The Trustee shall not be liable for an error of judgment
          made in good faith by a Responsible Officer or Responsible Officers
          of the Trustee, unless it shall be proved that the Trustee was
          negligent in ascertaining the pertinent facts;

               (iii) The Trustee shall not be liable with respect to any
          action taken, suffered or omitted to be taken by it in good faith in
          accordance with the direction of Holders of Certificates entitled to
          at least 25% of the Voting Rights relating to the time, method and
          place of conducting any proceeding for any remedy available to the
          Trustee, or exercising any trust or power

                                    -238-
<PAGE>

          conferred upon the Trustee, under this Agreement (unless a
          higher percentage of Voting Rights is required for such action); and

               (iv) Subject to the other provisions of this Agreement and
          without limiting the generality of this Section 8.01, the Trustee
          shall have no duty except in the capacity as successor Master
          Servicer or successor Special Servicer (A) to see to any recording,
          filing or depositing of this Agreement or any agreement referred to
          herein or any financing statement or continuation statement
          evidencing a security interest, or to see to the maintenance of any
          such recording or filing or depositing or to any re-recording,
          refiling or redepositing of any thereof, (B) to see to any
          insurance, or (C) to confirm or verify the contents of any reports
          or certificates of the Master Servicer or Special Servicer delivered
          to the Trustee pursuant to this Agreement reasonably believed by the
          Trustee to be genuine and to have been signed or presented by the
          proper party or parties.

          SECTION 8.02. Certain Matters Affecting the Trustee.

          Except as otherwise provided in Section 8.01:

               (i) The Trustee may rely upon 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 reasonably
          believed by it to be genuine and to have been signed or presented by
          the proper party or parties;

              (ii) The Trustee may consult with counsel and the written
          advice of such counsel or 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 therewith;

               (iii) The Trustee shall be under no obligation to exercise any
          of the trusts or powers vested in it by this Agreement or to make
          any investigation of matters arising hereunder or to institute,
          conduct or defend any litigation hereunder or in relation hereto at
          the request, order or direction of any of the Certificateholders,
          pursuant to the provisions of this Agreement, unless, in the
          Trustee's reasonable opinion, such Certificateholders shall have
          offered to the Trustee reasonable security or indemnity against the
          costs, expenses and liabilities which may be incurred therein or
          thereby; the Trustee shall not be required 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; nothing contained
          herein shall, however, relieve the Trustee of the obligation, upon
          the occurrence of an Event of Default which has not been cured, to
          exercise such of the rights and powers vested in it by this
          Agreement, and to use the same degree of care and skill in their
          exercise as a prudent man would exercise or use under the
          circumstances in the conduct of his own affairs;

               (iv) The Trustee shall not be liable for any action reasonably
          taken, suffered or omitted by it in good faith and believed by it to
          be authorized or within the discretion or rights or powers conferred
          upon it by this Agreement;

                                    -239-
<PAGE>

               (v) Prior to the occurrence of an Event of Default hereunder
          and after the curing of all Events of Default which may have
          occurred, the Trustee shall not be bound to 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, unless requested
          in writing to do so by Holders of Certificates entitled to at least
          50% of the Voting Rights; provided, however, that if the payment
          within a reasonable time to the Trustee of the costs, expenses or
          liabilities likely to be incurred by it in the making of such
          investigation is, in the opinion of the Trustee, not reasonably
          assured to the Trustee by the security afforded to it by the terms
          of this Agreement, the Trustee may require reasonable indemnity
          against such expense or liability as a condition to taking any such
          action. The reasonable expense of every such reasonable examination
          shall be paid by the Master Servicer or, if paid by the Trustee,
          shall be repaid by the Master Servicer upon demand;

               (vi) The Trustee may execute any of the trusts or powers
          hereunder or perform any duties hereunder either directly or by or
          through agents or attorneys; provided, however, that the appointment
          of such agents or attorneys shall not relieve the Trustee of its
          duties or obligations hereunder;

               (vii) For all purposes under this Agreement, the Trustee shall
          not be required to take any action with respect to, or be deemed to
          have notice or knowledge of any default or Event of Default unless a
          Responsible Officer of the Trustee has actual knowledge thereof or
          shall have received written notice thereof. In the absence of
          receipt of such notice and such actual knowledge otherwise obtained,
          the Trustee may conclusively assume that there is no default or
          Event of Default;

               (viii) The Trustee shall not be responsible for any act or
          omission of the Master Servicer, the Special Servicer or the Series
          2003-C4 Directing Certificateholder (unless the Trustee is acting as
          Master Servicer, Special Servicer or the Series 2003-C4 Directing
          Certificateholder, as the case may be) or of the Depositor; and

               (ix) The Trustee shall not be required to give any bond or
          surety in respect of the execution of the Trust Fund created hereby
          or the power granted hereunder.

          SECTION 8.03. Trustee Not Liable for Validity or Sufficiency of
                        Certificates or Trust Mortgage Loans.

          The recitals contained herein and in the Certificates, other than
the acknowledgments and expressed intentions of the Trustee in Sections 2.01,
2.02, 2.04, 2.05, 2.06, 2.07, 2.08, 2.09, 3.01, 10.01, 11.04 and 11.07 and the
representations and warranties of the Trustee in Section 8.13, shall be taken
as the statements of the Depositor, the Master Servicer or the Special
Servicer, as the case may be, and the Trustee assumes no responsibility for
their correctness. The Trustee does not make any representations as to the
validity or sufficiency of this Agreement or of any Certificate or of any
Trust Mortgage Loan or related document. The Trustee shall not be accountable
for the use or application by the Depositor of any of the Certificates issued
to it or of the proceeds of such Certificates, or for the use or application
of any funds paid to the Depositor in respect of the assignment of the Trust
Mortgage Loans to the Trust Fund, or any funds deposited in or withdrawn from
the Collection Account or any other account by or on behalf of the Depositor,
the Master Servicer, the Special Servicer or the Trustee. The Trustee shall
not be responsible for the accuracy or content of any resolution, certificate,
statement, opinion, report,

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document, order or other instrument furnished by the Depositor, the
Master Servicer or the Special Servicer, and accepted by the Trustee, in good
faith, pursuant to this Agreement.

          SECTION 8.04. Trustee May Own Certificates.

          The Trustee in its individual capacity and not as Trustee, may
become the owner or pledgee of Certificates, and may deal with the Depositor,
the Master Servicer, the Special Servicer, the Initial Purchaser and the
Underwriters in banking transactions, with the same rights it would have if it
were not Trustee.

          SECTION 8.05. Fees and Expenses of Trustee; Indemnification of and
by Trustee.

          (a) On each Distribution Date, the Trustee shall withdraw from the
Distribution Account, prior to any distributions to be made therefrom to
Certificateholders on such date, and pay to itself all earned but unpaid
Trustee Fees in respect of the Trust Mortgage Loans and any REO Trust Mortgage
Loans through the end of the most recently ended calendar month, as
compensation for all services rendered by the Trustee in the execution of the
trusts hereby created and in the exercise and performance of any of the powers
and duties of the Trustee hereunder. As to each Trust Mortgage Loan and REO
Trust Mortgage Loan, the Trustee Fee shall accrue during each calendar month,
commencing with September 2003, at the Trustee Fee Rate on a principal amount
equal to the Stated Principal Balance of such Trust Mortgage Loan or REO Trust
Mortgage Loan immediately following the Distribution Date in such calendar
month (or, in the case of September 2003, on a principal amount equal to the
Cut-off Date Principal Balance of the particular Trust Mortgage Loan), whether
or not interest is actually collected on each Trust Mortgage Loan and REO
Trust Mortgage Loan. With respect to each Trust Mortgage Loan and REO Trust
Mortgage Loan, the Trustee Fee shall accrue from time to time on the same
Interest Accrual Basis as is applicable to such Trust Mortgage Loan or REO
Trust Mortgage Loan. Except as otherwise expressly provided herein, the
Trustee Fees (which shall not be limited by any provision of law in regard to
the compensation of a trustee of an express trust) shall constitute the
Trustee's sole compensation for such services to be rendered by it.

          (b) The Trustee shall be paid or reimbursed by the Trust Fund upon
its request for all reasonable out-of-pocket expenses and disbursements
incurred by the Trustee pursuant to and in accordance with any of the
provisions of this Agreement (including the reasonable compensation and the
expenses and disbursements of its counsel and of all persons not regularly in
its employ) to the extent such payments are "unanticipated expenses incurred
by the REMIC" within the meaning of Treasury regulations section
1.860G-1(b)(iii) except any such expense, disbursement or advance as may arise
from its negligence, bad faith or willful misconduct; provided, however, that
subject to Section 8.02(iii), the Trustee shall not refuse to perform any of
its duties hereunder solely as a result of the failure to be paid the Trustee
Fee or the Trustee's expenses.

          (c) The Trustee and any Affiliate, director, officer, employee or
agent of the Trustee shall be indemnified and held harmless by the Trust Fund
against any loss, liability or expense (including, without limitation, costs
and expenses of litigation, and of investigation, counsel fees, damages,
judgments and amounts paid in settlement, and expenses incurred in becoming
successor servicer, to the extent not otherwise paid hereunder) arising out
of, or incurred in connection with, this Agreement, the Mortgage Loans, the
Certificates or any act or omission of the Trustee relating to the exercise
and performance of any of the powers and duties of the Trustee hereunder;
provided, however, that neither the Trustee nor any of the other above
specified Persons shall be entitled to indemnification

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pursuant to this Section 8.05(c) for (i) allocable overhead, (ii)
routine expenses or disbursements incurred or made by or on behalf of the
Trustee in the normal course of the Trustee's performing its duties in
accordance with any of the provisions hereof, which are not "unanticipated
expenses of the REMIC" within the meaning of Treasury regulations section
1.860G-1(b)(3)(ii), (iii) any expense or liability specifically required to be
borne thereby pursuant to the terms hereof or (iv) any loss, liability or
expense incurred by reason of willful misfeasance, bad faith or negligence in
the performance of the Trustee's obligations and duties hereunder, or by
reason of negligent disregard of such obligations or duties, or as may arise
from a breach of any representation or warranty of the Trustee made herein.
The provisions of this Section 8.05(c) shall survive any resignation or
removal of the Trustee and appointment of a successor thereto.

          SECTION 8.06. Eligibility Requirements for Trustee.

          The Trustee hereunder shall at all times be, and will be required to
resign if it fails to be, (i) a corporation, bank, trust company or banking
association, organized and doing business under the laws of any state or the
United States of America or the District of Columbia, authorized under such
laws to exercise corporate trust powers and to accept the trust conferred
under this Agreement, having a combined capital and surplus of at least
$50,000,000 and subject to supervision or examination by federal or state
authority and shall not be an Affiliate of the Depositor, Master Servicer or
the Special Servicer (except during any period when the Trustee is acting as,
or has become successor to, the Master Servicer or the Special Servicer, as
the case may be, pursuant to Section 7.02), (ii) an institution insured by the
Federal Deposit Insurance Corporation and (iii) an institution whose long-term
senior unsecured debt is rated "AA-" or higher by S&P, "Aa3" or higher by
Moody's (or such entity as would not, as evidenced in writing by such Rating
Agency, result in the qualification (as applicable), downgrading or withdrawal
of any of the then-current ratings then assigned thereby to the Certificates).

          If such corporation, bank, trust company 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, bank, trust company 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 the event the place of business from
which the Trustee administers the REMIC Pools is in a state or local
jurisdiction that imposes a tax on the Trust Fund on the net income of a REMIC
(other than a tax corresponding to a tax imposed under the REMIC Provisions),
the Trustee shall elect either to (i) resign immediately in the manner and
with the effect specified in Section 8.07, (ii) pay such tax at no expense to
the Trust Fund or (iii) administer the REMIC Pools from a state and local
jurisdiction that does not impose such a tax.

          SECTION 8.07. Resignation and Removal of the Trustee.

          (a) The Trustee may at any time resign and be discharged from the
trusts hereby created by giving written notice thereof to the Depositor, the
Master Servicer, the Special Servicer, all Certificateholders and the
Non-Trust Companion Loan Holders. Upon receiving such notice of resignation,
the Depositor shall promptly appoint a successor trustee acceptable to the
Master Servicer, in its reasonable discretion, and to the Rating Agencies (as
evidenced in writing by such Rating Agency that such appointment would not
result in the qualification (as applicable), downgrading or withdrawal of any
of then-current ratings then assigned thereby to the Certificates), by written
instrument, in duplicate, which instrument shall be delivered to the resigning
Trustee and to the successor trustee. A

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copy of such instrument shall be delivered to the Master Servicer,
the Special Servicer, the Certificateholders and the Non-Trust Companion Loan
Holders by the Depositor. If no successor trustee shall have been so appointed
and have accepted appointment within 30 days after the giving of such notice
of resignation, the resigning Trustee may petition any court of competent
jurisdiction for the appointment of a successor trustee. The resigning Trustee
shall be responsible for the payment of all reasonable expenses incurred in
connection with such resignation and discharge and the appointment of a
successor trustee

          (b) If at any time the Trustee shall cease to be eligible in
accordance with the provisions of Section 8.06 or if the Depositor has
received notice from the Rating Agencies that failure to remove the Trustee
will result in a downgrade or withdrawal of the then-current rating assigned
to any Class of Certificates, and shall fail to resign after written request
therefor by the Depositor or the Master Servicer, or if at any time the
Trustee shall become incapable of acting, or shall be adjudged 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, then the Depositor may remove the Trustee and appoint a successor
trustee acceptable to the Master Servicer and the Rating Agencies (as
evidenced in writing by such Rating Agency that such removal and appointment
would not result in the qualification (as applicable), downgrading or
withdrawal of any of then-current ratings then assigned thereby to the
Certificates), by written instrument, in duplicate, which instrument shall be
delivered to the Trustee so removed and to the successor trustee. A copy of
such instrument shall be delivered to the Master Servicer, the Special
Servicer, the Certificateholders and the Non-Trust Companion Loan Holders by
the Depositor.

          (c) The Holders of Certificates entitled to at least 51% of the
Voting Rights may at any time remove the Trustee and appoint a successor
trustee by written instrument or instruments, in triplicate, signed by such
Holders or their attorneys-in-fact duly authorized, one complete set of which
instruments shall be delivered to the Master Servicer, one complete set to the
Trustee so removed and one complete set to the successor so appointed. A copy
of such instrument shall be delivered to the Depositor, the Special Servicer,
the remaining Certificateholders and the Non-Trust Companion Loan Holders by
the Master Servicer. The Trustee shall be reimbursed for all reasonable costs
and expenses incurred by it in connection with such removal within 30 days of
demand therefor from amounts on deposit in the Distribution Account (provided
the Trustee is removed without cause).

          Any resignation or removal of the Trustee and appointment of a
successor Trustee pursuant to any of the provisions of this Section 8.07 shall
not become effective until acceptance of appointment by the successor Trustee
as provided in Section 8.08.

          Within 30 days following any succession of the Trustee under this
Agreement, the predecessor Trustee shall be paid all accrued and unpaid
compensation and reimbursement as provided for under this Agreement for
services rendered and expenses incurred. No Trustee shall be liable for any
action or omission of any successor Trustee.

          SECTION 8.08. Successor Trustee.

          (a) Any successor Trustee appointed as provided in Section 8.07
shall execute, acknowledge and deliver to the Depositor, the Master Servicer,
the Special Servicer and to its predecessor Trustee, an instrument accepting
such appointment hereunder, and thereupon the resignation or removal of the
predecessor Trustee, shall become effective and such successor Trustee,
without any

                                    -243-
<PAGE>

further act, deed or conveyance, shall become fully vested with all
the rights, powers, duties and obligations of its predecessor hereunder,
with the like effect as if originally named as Trustee herein. The predecessor
Trustee shall deliver to the successor trustee all Mortgage Files and related
documents and statements held by it hereunder, and the Depositor, the Master
Servicer, the Special Servicer and the predecessor Trustee shall execute and
deliver such instruments and do such other things as may reasonably be
required to more fully and certainly vest and confirm in the successor Trustee
all such rights, powers, duties and obligations, and to enable the successor
Trustee to perform its obligations hereunder.

          (b) No successor Trustee shall accept appointment as provided in
this Section 8.08 unless at the time of such acceptance such successor trustee
shall be eligible under the provisions of Section 8.06.

          (c) Upon acceptance of appointment by a successor Trustee as
provided in this Section 8.08, the Master Servicer shall mail notice of the
succession of such Trustee hereunder to the Depositor, the Certificateholders
and the Non-Trust Companion Loan Holders. If the Master Servicer fails to mail
such notice within 10 days after acceptance of appointment by the successor
Trustee, such successor Trustee shall cause such notice to be mailed at the
expense of the Master Servicer.

          SECTION 8.09. Merger or Consolidation of Trustee.

          Any Person into which the Trustee 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 Trustee shall be a party, or any
Person succeeding to all or substantially all of the corporate trust business
of the Trustee, shall be the successor of the Trustee, hereunder (provided
that, in the case of the Trustee, such successor Person shall be eligible
under the provisions of Section 8.06), 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 8.10. Appointment of Co-Trustee or Separate Trustee.

          (a) Notwithstanding any other provisions hereof, at any time, for
the purpose of meeting any legal requirements of any jurisdiction in which any
part of the Trust Fund or property securing the same may at the time be
located, the Master Servicer and the Trustee acting jointly shall have the
power and shall execute and deliver all instruments to appoint one or more
Persons approved by the Trustee to act as co-trustee or co-trustees, jointly
with the Trustee, or separate trustee or separate trustees, of all or any part
of the Trust Fund, and to vest in such Person or Persons, in such capacity,
such title to the Trust Fund, or any part thereof, and, subject to the other
provisions of this Section 8.10, such powers, duties, obligations, rights and
trusts as the Master Servicer and the Trustee may consider necessary or
desirable. If the Master Servicer shall not have joined in such appointment
within 15 days after the receipt by it of a request to do so, or in case an
Event of Default shall have occurred and be continuing, the Trustee alone
shall have the power to make such appointment. No co-trustee or separate
trustee hereunder shall be required to meet the terms of eligibility as a
successor trustee under Section 8.06 hereunder and no notice to Holders of
Certificates of the appointment of co-trustee(s) or separate trustee(s) shall
be required under Section 8.08 hereof.

          (b) In the case of any appointment of a co-trustee or separate
trustee pursuant to this Section 8.10, all rights, powers, duties and
obligations conferred or imposed upon the Trustee shall be

                                    -244-
<PAGE>

conferred or imposed upon and exercised or performed by the Trustee
and such separate trustee or co-trustee 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 or the Special 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
Fund or any portion thereof in any such jurisdiction) shall be exercised and
performed by such separate trustee or co-trustee at the direction of the
Trustee.

          (c) 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 or co-trustee shall refer to this Agreement
and the conditions of this Article VIII. 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.

          (d) Any separate trustee or co-trustee 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 or
co-trustee 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.

          (e) The appointment of a co-trustee or separate trustee under this
Section 8.10 shall not relieve the Trustee of its duties and responsibilities
hereunder.

          SECTION 8.11. Access to Certain Information.

          (a) On or prior to the date of the first sale of any Non-Registered
Certificate to an Independent third party, the Depositor shall provide to the
Trustee a copy of any private placement memorandum or other disclosure
document used by the Depositor or its Affiliate in connection with the offer
and sale of the Class of Certificates to which such Non-Registered Certificate
relates. In addition, if any such private placement memorandum or disclosure
document is revised, amended or supplemented at any time following the
delivery thereof to the Trustee, the Depositor promptly shall inform the
Trustee of such event and shall deliver to the Trustee a copy of the private
placement memorandum or disclosure document, as revised, amended or
supplemented.

          The Trustee shall maintain at its offices primarily responsible for
administering the Trust Fund and shall, upon reasonable advance written
notice, make available during normal business hours for review by any Holder
of a Certificate, each Non-Trust Companion Loan Holder and its designees, the
Depositor, the Master Servicer, the Special Servicer, the Series 2003-C4
Directing Certificateholder, any Rating Agency, the Underwriters or any other
Person to whom the Trustee believes such disclosure is appropriate, originals
or copies of the following items to the extent such documents have been
delivered to the Trustee: (i) in the case of a Holder or prospective
transferee of a Non-Registered Certificate, any private placement memorandum
or other disclosure document relating to the Class of Certificates to which
such Non-Registered Certificate belongs, in the form most recently provided to
the

                                    -245-
<PAGE>

Trustee and (ii) in all cases, (A) this Agreement and any amendments
hereto entered into pursuant to Section 11.01, (B) the Prospectus and any
amendments or supplements thereto, (C) the respective Mortgage Loan Purchase
Agreements and any amendments thereto, (D) all statements required to be
delivered, or otherwise required to be made available, to Certificateholders
of the relevant Class pursuant to Section 4.02 since the Closing Date, (E) all
Officer's Certificates delivered to the Trustee since the Closing Date
pursuant to Section 3.13, (F) all accountants' reports delivered to the
Trustee since the Closing Date pursuant to Section 3.14, (G) any and all
notices, reports and Environmental Assessments delivered to the Trustee with
respect to any Mortgaged Property securing a defaulted Trust Mortgage Loan as
to which the environmental testing contemplated by Section 3.09(c) revealed
that either of the conditions set forth in clauses (i) and (ii) of the first
sentence thereof was not satisfied (but only for so long as such Mortgaged
Property or the related Trust Mortgage Loan are part of the Trust Fund), (H)
any and all modifications, waivers and amendments of the terms of a Mortgage
Loan entered into by the Master Servicer or the Special Servicer and delivered
to the Trustee pursuant to Section 3.20 (but only for so long as the affected
Trust Mortgage Loan is part of the Trust Fund), (I) any and all Officer's
Certificates delivered to the Trustee to support the Master Servicer's
determination that any P&I Advance or Servicing Advance was or, if made, would
be a Nonrecoverable P&I Advance or Nonrecoverable Servicing Advance, as the
case may be, (J) any and all of the Mortgage Loan Documents contained in the
Mortgage Files, (K) any and all Appraisals obtained pursuant to the definition
of "Appraisal Reduction" herein, (L) information regarding the occurrence of
Servicing Transfer Events as to the Trust Mortgage Loans and (M) any and all
Sub-Servicing Agreements and any amendments thereto and modifications thereof.

          Copies of any and all of the foregoing items will be available from
the Trustee upon written request; provided, however, that the Trustee shall be
permitted to require payment of a sum sufficient to cover the reasonable costs
and expenses of providing such copies, except in the case of copies provided
to the Rating Agencies and, so long as the requests are not excessive or
duplicative, to the Series 2003-C4 Directing Certificateholder and the Class
MM Directing Certificateholder, which shall be free of charge. In addition,
without limiting the generality of the foregoing, any Requesting Subordinate
Certificateholder may upon written request from the Trustee obtain a copy of
any report delivered to the Rating Agencies under this Agreement.

          (b) Notwithstanding anything to the contrary herein, in addition to
the reports and information made available and distributed pursuant to the
terms of this Agreement (including the information set forth in Section
8.11(a)), Trustee shall, in accordance with such reasonable rules and
procedures as it may adopt (which may include the requirement that an
agreement that provides that such information shall be kept confidential and
used solely for purposes of evaluating the investment characteristics of the
Certificates be executed), also make the reports available to
Certificateholders pursuant to Section 4.02, as well as certain additional
information received by the Master Servicer or the Trustee to any
Certificateholder, the Underwriters, the Initial Purchasers, any Certificate
Owner or any prospective investor identified as such by a Certificate Owner or
the Underwriters or Initial Purchasers, that requests such reports or
information; provided that the Trustee shall be permitted to require payment
of a sum sufficient to cover the reasonable costs and expenses of providing
copies of such reports or information.

          (c) With respect to any information furnished by the Trustee
pursuant to this Section 8.11, the Trustee shall be entitled to indicate the
source of such information and the Trustee or Master Servicer, as applicable,
may affix

                                    -246-
<PAGE>

thereto any disclaimer it deems appropriate in its discretion. The Trustee
shall notify Certificateholders of the availability of any such information in
any manner as it, in its sole discretion, may determine. In connection with
providing access to or copies of the items described above in this Section
8.11 to Certificateholders, Certificate Owners, prospective purchasers of
Certificates or interests therein or investment advisors of any of the
foregoing, the Trustee may require: (i) in the case of Certificateholders and
Certificate Owners, a confirmation executed by the requesting Person
substantially in form and substance reasonably acceptable to the Trustee
generally to the effect that such Person is a registered or beneficial holder
of Certificates or an investment advisor representing such Person and is
requesting the information solely for use in evaluating such Person's
investment in the Certificates and will otherwise keep such information
confidential; and (ii) in the case of a prospective purchaser or an investment
advisor representing such Person, confirmation executed by the requesting
Person in form and substance reasonably acceptable to the Trustee generally to
the effect that such Person is a prospective purchaser of a Certificate or an
interest therein or an investment advisor representing such Person, and is
requesting the information solely for use in evaluating a possible investment
in Certificates and will otherwise keep such information confidential. The
Trustee shall not be liable for the dissemination of information in accordance
with this Agreement.

          SECTION 8.12. Appointment of Custodians.

          The Trustee may, with the consent of the Master Servicer, appoint at
the Trustee's own expense one or more Custodians to hold all or a portion of
the Mortgage Files as agent for the Trustee; provided that if the Custodian is
an Affiliate of the Trustee such consent of the Master Servicer need not be
obtained and the Trustee shall inform the Master Servicer of such appointment.
Each Custodian shall be a depositary institution supervised and regulated by a
federal or state banking authority, shall have combined capital and surplus of
at least $10,000,000, shall be qualified to do business in the jurisdiction in
which it holds any Mortgage File, shall not be the Depositor, any Mortgage
Loan Seller or any Affiliate of the Depositor or any Mortgage Loan Seller, and
shall have in place a fidelity bond and errors and omissions policy, each in
such form and amount as is customarily required of custodians acting on behalf
of FHLMC or FNMA. Each Custodian shall be subject to the same obligations,
standard of care, protection and indemnities as would be imposed on, or would
protect, the Trustee hereunder in connection with the retention of Mortgage
Files directly by the Trustee. The appointment of one or more Custodians shall
not relieve the Trustee from any of its obligations hereunder, and the Trustee
shall remain responsible for all acts and omissions of any Custodian.

          SECTION 8.13. Representations, Warranties and Covenants of the
Trustee.

          The Trustee hereby represents and warrants to the Depositor, the
Master Servicer and the Special Servicer and for the benefit of the
Certificateholders and the Non-Trust Companion Loan Holders, as of the Closing
Date, that:

               (i) The Trustee is a national banking association, duly
          organized, validly existing and in good standing under the laws of
          the United States;

              (ii) The execution and delivery of this Agreement by the
          Trustee, and the performance and compliance with the terms of this
          Agreement by the Trustee, will not violate the Trustee's
          organizational documents or constitute a default (or an event which,
          with notice or

                                    -247-
<PAGE>

          lapse of time, or both, would constitute a default) under, or
          result in the breach of, any material agreement or other instrument
          to which it is a party or which is applicable to it or any of its
          assets;

              (iii) The Trustee has the full power and authority to enter
          into and consummate all transactions contemplated by this Agreement,
          has duly authorized the execution, delivery and performance of this
          Agreement, and has duly executed and delivered this Agreement;

              (iv) This Agreement, assuming due authorization, execution and
          delivery by each of the other parties hereto, constitutes a valid,
          legal and binding obligation of the Trustee, enforceable against the
          Trustee in accordance with the terms hereof, subject to (a)
          applicable bankruptcy, insolvency, reorganization, moratorium and
          other laws affecting the enforcement of creditors' rights generally
          and the rights of creditors of banks specifically and (b) general
          principles of equity, regardless of whether such enforcement is
          considered in a proceeding in equity or at law;

               (v) The Trustee is not in violation of, and its 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, any order or decree of any court or arbiter, or any order,
          regulation or demand of any federal, state or local governmental or
          regulatory authority, which violation, in the Trustee's good faith
          and reasonable judgment, is likely to affect materially and
          adversely the ability of the Trustee to perform its obligations
          under this Agreement;

               (vi) No litigation is pending or, to the best of the Trustee's
          knowledge, threatened against the Trustee which would prohibit the
          Trustee from entering into this Agreement or, in the Trustee's good
          faith and reasonable judgment, is likely to materially and adversely
          affect the ability of the Trustee to perform its obligations under
          this Agreement; and

              (vii) No consent, approval, authorization or order of any court
          or governmental agency or body is required for the execution,
          delivery and performance by the Trustee, or compliance by the
          Trustee with, this Agreement or the consummation of the transactions
          contemplated by this Agreement, except for any consent, approval,
          authorization or order which has not been obtained or cannot be
          obtained prior to the actual performance by the Trustee of its
          obligations under this Agreement, and which, if not obtained would
          not have a materially adverse effect on the ability of the Trustee
          to perform its obligations hereunder.

                                    -248-
<PAGE>

                                  ARTICLE IX

                                  TERMINATION

          SECTION 9.01. Termination Upon Repurchase or Liquidation of All
                        Trust Mortgage Loans.

          Subject to Section 9.02, the Trust Fund and the respective
obligations and responsibilities under this Agreement of the Depositor, the
Master Servicer, the Special Servicer and the Trustee (other than the
obligations of the Trustee to provide for and make payments to
Certificateholders as hereafter set forth) shall terminate upon payment (or
provision for payment) to the Certificateholders of all amounts held by or on
behalf of the Trustee and required hereunder to be so paid on the Distribution
Date following the earliest to occur of (i) the purchase by the Holders of a
majority of the Percentage Interests of the Controlling Class, the Special
Servicer or the Master Servicer of all the Trust Mortgage Loans and each REO
Property remaining in the Trust Fund at a price (the "Termination Price")
equal to (a) the sum of (1) the aggregate Purchase Price of all the Trust
Mortgage Loans (exclusive of REO Trust Mortgage Loans) included in the Trust
Fund and (2) the Appraised Value of each REO Property, if any, included in the
Trust Fund (such Appraisals in this subclause (2) to be conducted by an
Appraiser selected and mutually agreed upon by the Master Servicer, the
Special Servicer and the Trustee), minus (b) solely in the case where the
Master Servicer is effecting such purchase, the aggregate amount of
unreimbursed Advances, together with any interest accrued and payable to the
Master Servicer in respect of such Advances in accordance with Sections
3.03(d) and 4.03(d) and any unpaid Master Servicing Fees (including Excess
Servicing Strip), remaining outstanding (which items shall be deemed to have
been paid or reimbursed to the Master Servicer in connection with such
purchase), and (ii) the final payment or other liquidation (or any advance
with respect thereto) of the last Trust Mortgage Loan or REO Property
remaining in the Trust Fund; provided, however, 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's, living on the
date hereof.

          The Holders of a majority of the Percentage Interests of the
Controlling Class may, at their option, elect to purchase all of the Trust
Mortgage Loans and each REO Property remaining in the Trust Fund as
contemplated by clause (i) of the preceding paragraph by giving written notice
to the Trustee and the other parties hereto within 60 days of the first
Distribution Date on which the aggregate Stated Principal Balance of the
Mortgage Pool is less than 1.0% of the aggregate Cut-off Date Principal
Balance of the Original Trust Mortgage Loans. If the Holders of a majority of
the Percentage Interests of the Controlling Class do not exercise such option
within 60 days after it becomes exercisable by the Holders of a majority of
the Percentage Interests of the Controlling Class, the Special Servicer may
notify the Holders of a majority of the Percentage Interests in the
Controlling Class and the Trustee of its intention to exercise such option and
if the Holders of a majority of the Percentage Interests of the Controlling
Class do not exercise such option within ten Business Days thereafter, the
Special Servicer shall be entitled to exercise such option. If the Special
Servicer does not exercise such option within 60 days after it becomes
exercisable by it, the Master Servicer may notify the Special Servicer, the
Holders of the Controlling Class and the Trustee of the Master Servicer's
intention to exercise such option, and if none of the Special Servicer or the
Holders of a majority of the Percentage Interests in the Controlling Class
exercise such option within ten Business Days thereafter, the Master Servicer
will be entitled to exercise such option.

                                    -249-
<PAGE>

          If the Holders of the Controlling Class, the Special Servicer or the
Master Servicer purchases all of the Trust Mortgage Loans and each REO
Property remaining in the Trust Fund in accordance with the preceding
paragraph, the Holders of the Controlling Class, the Special Servicer or the
Master Servicer, as applicable, shall remit to the Trustee for deposit in the
Distribution Account not later than the Master Servicer Remittance Date
relating to the Distribution Date on which the final distribution on the
Certificates is to occur, an amount in immediately available funds equal to
the Termination Price (exclusive of (i) any portion thereof payable to any
Person other than the Certificateholders pursuant to Section 3.05(a), which
portion shall be deposited in the Collection Account, (ii) any portion thereof
that is payable to a Non-Trust Companion Loan Holder in connection with an REO
Property in accordance with the related intercreditor, co-lender or similar
agreement, which portion is to be remitted to such Non-Trust Companion Loan
Holder, and (iii) any portion thereof representing accrued and unpaid Excess
Interest, which shall be deposited in the Excess Interest Distribution
Account). In addition, the Master Servicer shall transfer to the Distribution
Account all amounts required to be transferred thereto on such Master Servicer
Remittance Date from the Collection Account pursuant to the first paragraph of
Section 3.04(b), together with any other amounts on deposit in the Collection
Account that would otherwise be held for future distribution. Upon
confirmation that such final deposits have been made, the Trustee shall
release or cause to be released to the Holders of the Controlling Class, the
Special Servicer or the Master Servicer, as applicable, the Mortgage Files for
the remaining Trust Mortgage Loans, and the Trustee shall execute all
assignments, endorsements and other instruments furnished to it by Holders of
the Controlling Class, the Special Servicer or the Master Servicer, as
applicable, as shall be necessary to effectuate transfer of the Trust Mortgage
Loans and REO Properties remaining in the Trust Fund and its rights under the
related Mortgage Loan Purchase Agreement.

          For purposes of this Section 9.01, the Series 2003-C4 Directing
Certificateholder, with the consent of the Holders of the Controlling Class,
shall act on behalf of the Holders of the Controlling Class in purchasing the
assets of the Trust Fund and terminating the Trust.

          Notice of any termination pursuant to this Section 9.01 shall be
given promptly by the Trustee by letter to the Certificateholders, the
Non-Trust Companion Loan Holders and each Rating Agency and, if not previously
notified pursuant to this Section 9.01, to the other parties hereto mailed (a)
in the event such notice is given in connection with the purchase of all of
the Trust Mortgage Loans and each REO Property remaining in the Trust Fund,
not earlier than the 15th day and not later than the 25th day of the month
next preceding the month of the final distribution on the Certificates, or (b)
otherwise during the month of such final distribution on or before the related
Determination Date in such month, in each case specifying (i) the Distribution
Date upon which the Trust Fund will terminate and final payment of the
Certificates will be made, (ii) the amount of any such final payment and (iii)
that the Record Date otherwise applicable to such Distribution Date is not
applicable, payments being made only upon presentation and surrender of the
Certificates at the offices of the Trustee or such other location therein
designated.

          Upon presentation and surrender of the Certificates by the
Certificateholders on the Final Distribution Date, the Trustee shall
distribute to each Certificateholder so presenting and surrendering its
Certificates such Certificateholder's Percentage Interest of that portion of
the amounts then on deposit in the Distribution Account and/or the Excess
Interest Distribution Account that are allocable to payments on the Class of
Certificates so presented and surrendered. Amounts distributed from the
Distribution Account as of the Final Distribution Date shall be allocated for
the purposes, in the amounts and in

                                    -250-
<PAGE>

accordance with the priority set forth in Sections 4.01(a), 4.01(b),
4.01(c), 4.01(d) and 4.01(e). Anything in this Section 9.01 to the contrary
notwithstanding, the Holders of the Class V Certificates shall receive that
portion, if any, of the proceeds of a sale of the assets of the Trust Fund
allocable to accrued and unpaid Excess Interest. Any funds not distributed on
such Distribution Date shall be set aside and held uninvested in trust for the
benefit of Certificateholders not presenting and surrendering their
Certificates in the aforesaid manner and shall be disposed of in accordance
with this Section 9.01 and Section 4.01(i).

          SECTION 9.02. Additional Termination Requirements.

          If Holders of the Controlling Class, the Special Servicer or the
Master Servicer purchases all of the Trust Mortgage Loans and each REO
Property remaining in the Trust Fund as provided in Section 9.01, the Trust
Fund shall be terminated in accordance with the following additional
requirements, which meet the definition of a "qualified liquidation" of each
REMIC Pool, within the meaning of Section 860F(a)(4) of the Code:

               (i) the Trustee shall specify the first day in the 90-day
          liquidation period in a statement attached to each REMIC Pool's
          final Tax Returns pursuant to Treasury regulations section 1.860F-1;

              (ii) within such 90-day liquidation period and at or prior to
          the time of the making of the final payment on the Certificates, the
          Trustee shall sell all of the assets of REMIC I to the Holders of
          the Controlling Class, the Special Servicer or the Master Servicer,
          as the case may be, for cash; and

              (iii) immediately following the making of the final payment on
          the REMIC Regular Interests and the Certificates, the Trustee shall
          distribute or credit, or cause to be distributed or credited, to the
          Holders of the Class R Certificates all cash on hand (other than
          cash retained to meet claims), in the Trust Fund and each REMIC Pool
          shall terminate at that time.

                                    -251-
<PAGE>

                                  ARTICLE X

                           ADDITIONAL TAX PROVISIONS

          SECTION 10.01. Tax Administration.

          (a) The Trustee shall elect to treat each REMIC Pool as a REMIC
under the Code and, if necessary, under applicable state law. Each such
election will be made on IRS Form 1066 or other appropriate federal tax or
information return or any appropriate state Tax Returns for the taxable year
ending on the last day of the calendar year in which the Certificates are
issued.

          (b) The Plurality Class R Certificateholder is hereby designated as
the Tax Matters Person of each REMIC Pool and, in such capacity, shall be
responsible to act on behalf of such REMIC Pool in relation to any tax matter
or controversy, to represent such REMIC Pool in any administrative or judicial
proceeding relating to an examination or audit by any governmental taxing
authority, to request an administrative adjustment as to any taxable year of
such REMIC Pool, to enter into settlement agreements with any governmental
taxing agency with respect to such REMIC Pool, to extend any statute of
limitations relating to any tax item of such REMIC Pool and otherwise to act
on behalf of such REMIC Pool in relation to any tax matter or controversy
involving such REMIC Pool; provided that the Trustee is hereby irrevocably
appointed and agrees to act (in consultation with the Tax Matters Person for
each REMIC Pool) as agent and attorney-in-fact for the Tax Matters Person for
each REMIC Pool in the performance of its duties as such. The legal expenses
and costs of any action described in this Section 10.01(b) and any liability
resulting therefrom shall be expenses, costs and liabilities of the Trust
payable out of amounts on deposit in the Distribution Account as provided by
Section 3.05(b) unless such legal expenses and costs are incurred by reason of
a Tax Matters Person's or the Trustee's misfeasance, bad faith or negligence
in the performance of, or such Person's reckless disregard of, its obligations
or are expressly provided by this Agreement to be borne by any party hereto.

          (c) The Trustee shall prepare or cause to be prepared, execute and
file all of the Tax Returns in respect of each REMIC Pool (other than Tax
Returns required to be filed by the Master Servicer and/or the Special
Servicer pursuant to Section 3.09(f)) and all of the applicable income tax and
other information returns for each Grantor Trust Pool. The expenses of
preparing and filing such returns shall be borne by the Trustee without any
right of reimbursement therefor.

          (d) The Trustee 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, the REMIC Provisions or other compliance guidance
issued by the IRS or any state or local taxing authority. Included among such
duties, the Trustee shall provide: (i) to any Transferor of a Class R
Certificate, such information as is necessary for the application of any tax
relating to the transfer of a Class R Certificate to any Person who is not a
Permitted Transferee; (ii) to the Certificateholders, such information or
reports as are required by the Code or the REMIC Provisions, including reports
relating to interest, original issue discount and market discount or premium
(using the Prepayment Assumption as required); and (iii) to the IRS, the name,
title, address and telephone number of the Person who will serve as the
representative of each REMIC Pool.

          (e) The Trustee shall take such action and shall cause each REMIC
Pool to take such action as shall be necessary to create or maintain the
status thereof as a REMIC under the REMIC

                                    -252-
<PAGE>

Provisions (and the other parties hereto shall assist it, to the extent
reasonably requested by the Trustee), to the extent that the Trustee has
actual knowledge that any particular action is required; provided that the
Trustee shall be deemed to have knowledge of relevant tax laws. The Trustee
shall not knowingly take or fail to take any action, or cause any REMIC Pool
to take or fail to take any action, that under the REMIC Provisions, if taken
or not taken, as the case may be, could result in an Adverse REMIC Event in
respect of any REMIC Pool or an Adverse Grantor Trust Event with respect to
either Grantor Trust Pool, unless the Trustee has received an Opinion of
Counsel to the effect that the contemplated action or non-action, as the case
may be, will not result in an Adverse REMIC Event or an Adverse Grantor Trust
Event. None of the other parties hereto shall take or fail to take any action
(whether or not authorized hereunder) as to which the Trustee has advised it
in writing that it has received an Opinion of Counsel to the effect that an
Adverse REMIC Event or an Adverse Grantor Trust Event could occur with respect
to such action. In addition, prior to taking any action with respect to any
REMIC Pool or the assets thereof, or causing any REMIC Pool to take any
action, which is not contemplated by the terms of this Agreement, each of the
other parties hereto will consult with the Trustee, in writing, with respect
to whether such action could cause an Adverse REMIC Event or an Adverse
Grantor Trust Event to occur, and no such other party shall take any such
action or cause any REMIC Pool to take any such action as to which the Trustee
has advised it in writing that an Adverse REMIC Event or an Adverse Grantor
Trust Event could occur. The Trustee may consult with counsel to make such
written advice, and the cost of same shall be borne by the party seeking to
take the action not permitted by this Agreement.

          (f) If any tax is imposed on any REMIC Pool, including "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 any REMIC Pool 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 on behalf of the Trust
pursuant to Section 3.17(a)), then such tax, together with all incidental
costs and expenses (including penalties and reasonable attorneys' fees), shall
be charged to and paid by: (i) the Trustee, if such tax arises out of or
results from a breach of any of its obligations under Article IV, Article VIII
or this Article X; (ii) the Master Servicer, if such tax arises out of or
results from a breach by the Master Servicer of any of its obligations under
Article III or this Article X; (iii) the Special Servicer, if such tax arises
out of or results from a breach by the Special Servicer of any of its
obligations under Article III or this Article X; or (iv) the Trust, out of the
Trust Fund (exclusive of the Grantor Trust Pools), in all other instances. If
any tax is imposed on either Grantor Trust Pool, 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 Special
Servicer, if such tax arises out of or results from a breach by the Special
Servicer of any of its obligations under Article III or this Article X; (ii)
the Master Servicer, if such tax arises out of or results from a breach by the
Master Servicer of any of its obligations under Article III or this Article X;
(iii) the Trustee, if such tax arises out of or results from a breach by the
Trustee of any of its obligations under Article IV, Article VIII or this
Article X; or (iv) the Trust, out of the portion of the Trust Fund
constituting such Grantor Trust Pool, in all other instances. Consistent with
the foregoing, any tax permitted to be incurred by the Special Servicer
pursuant to Section 3.17(a) shall be charged to and paid by the Trust. Any
such amounts payable by the Trust in respect of taxes shall be paid by the
Trustee out of amounts on deposit in the Distribution Account.

          (g) The Trustee and, to the extent that records are maintained
thereby in the normal course of its business, each of the other parties hereto
shall, for federal income tax purposes, maintain

                                    -253-
<PAGE>

books and records with respect to each REMIC Pool and each Grantor Trust
Pool on a calendar year and an accrual basis.

          (h) Following the Startup Day for each REMIC Pool, the Trustee shall
not (except as contemplated by Section 2.03) accept any contributions of
assets to any REMIC Pool unless it shall have received an Opinion of Counsel
(at the expense of the party seeking to cause such contribution) to the effect
that the inclusion of such assets in such REMIC Pool will not result in an
Adverse REMIC Event in respect of such REMIC Pool or an Adverse Grantor Trust
Event with respect to either Grantor Trust Pool.

          (i) None of the Master Servicer, the Special Servicer or the Trustee
shall consent to or, to the extent it is within the control of such Person,
permit: (i) the sale or disposition of any Trust Mortgage Loan (except in
connection with (A) a Breach or Defect with respect to any Trust Mortgage
Loan, (B) the foreclosure, default or reasonably foreseeable material default
of a Trust Mortgage Loan, including the sale or other disposition of a
Mortgaged Property acquired by foreclosure, deed in lieu of foreclosure or
otherwise, (C) the bankruptcy of any REMIC Pool, or (D) the termination of the
Trust pursuant to Article IX of this Agreement); (ii) the sale or disposition
of any investments in any account maintained hereunder for gain; or (iii) the
acquisition of any assets for the Trust (other than a Mortgaged Property
acquired through foreclosure, deed in lieu of foreclosure or otherwise in
respect of a defaulted Trust Mortgage Loan, other than a Replacement Trust
Mortgage Loan substituted for a Deleted Trust Mortgage Loan and other than
Permitted Investments acquired in connection with the investment of funds in
an account maintained hereunder); in any event unless it has received an
Opinion of Counsel (at the expense of the party seeking to cause such sale,
disposition, or acquisition) to the effect that such sale, disposition, or
acquisition will not result in an Adverse REMIC Event in respect of any REMIC
Pool or an Adverse Grantor Trust Event with respect to either Grantor Trust
Pool.

          (j) Except as otherwise permitted by Section 3.17(a), none of the
Master Servicer, the Special Servicer or the Trustee shall enter into any
arrangement by which any REMIC Pool will receive a fee or other compensation
for services or, to the extent it is within the control of such Person, permit
any REMIC Pool to receive any income from assets other than "qualified
mortgages" as defined in Section 860G(a)(3) of the Code or "permitted
investments" as defined in Section 860G(a)(5) of the Code. At all times as may
be required by the Code, each of the respective parties hereto (to the extent
it is within its control) shall ensure that substantially all of the assets of
each REMIC Pool will consist of "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.

          (k) Within 30 days after the related Startup Day, the Trustee shall
prepare and file with the IRS, with respect to each REMIC Pool, IRS Form 8811
"Information Return for Real Estate Mortgage Investment Conduits (REMICs) and
Issuers of Collateralized Debt Obligations".

          (l) The parties intend that the portion of the Trust Fund consisting
of Excess Interest on the ARD Trust Mortgage Loans and any successor REO Trust
Mortgage Loans with respect thereto and the Excess Interest Distribution
Account shall constitute, and that the affairs of such portion of the Trust
Fund shall be conducted so as to qualify as, a Grantor Trust, and the
provisions hereof shall be interpreted consistently with this intention. In
addition, the parties intend that the portion of the Trust Fund consisting of
the REMIC I Residual Interest, the REMIC II Residual Interest and the REMIC
III Residual Interest shall constitute, and the affairs of such portion of the
Trust Fund shall be conducted so

                                    -254-
<PAGE>

as to qualify as, a Grantor Trust, and the provisions hereof shall
be interpreted consistently with this intention. The Trustee shall also
perform on behalf of each Grantor Trust Pool all reporting and other tax
compliance duties that are the responsibility of such Grantor Trust Pool under
the Code or any compliance guidance issued by the IRS or any state or local
taxing authorities. The expenses of preparing and filing such returns shall be
borne by the Trustee.

          SECTION 10.02. Depositor, Master Servicer and Special Servicer to
                         Cooperate with Trustee.

          (a) The Depositor shall provide or cause to be provided to the
Trustee, within 10 days after the Closing Date, all information or data that
the Trustee reasonably determines to be relevant for tax purposes as to the
valuations and issue prices of the Certificates, including the price, yield,
prepayment assumption and projected cash flow of the Certificates.

          (b) The Master Servicer and the Special Servicer each shall furnish
such reports, certifications and information in its possession, and access to
such books and records maintained thereby, as may relate to the Certificates
or the Trust Fund and as shall be reasonably requested by the Trustee in order
to enable it to perform its duties under this Article X.

                                    -255-
<PAGE>

                                  ARTICLE XI

                           MISCELLANEOUS PROVISIONS

          SECTION 11.01. Amendment.

          (a) This Agreement may be amended from time to time by the mutual
agreement of the parties hereto, without the consent of any of the
Certificateholders or any of the Non-Trust Companion Loan Holders, (i) to cure
any ambiguity, (ii) to correct, modify or supplement any provision herein
which may be inconsistent with any other provision herein or to correct any
error, (iii) to make any other provisions with respect to matters or questions
arising hereunder which shall not be inconsistent with the then existing
provisions hereof, (iv) as evidenced by an Opinion of Counsel delivered to the
Trustee, the Master Servicer and the Special Servicer, to relax or eliminate
(A) any requirement hereunder imposed by the REMIC Provisions (if the REMIC
Provisions are amended or clarified such that any such requirement may be
relaxed or eliminated) or (B) any transfer restriction imposed on the
Certificates pursuant to Section 5.02(b) or Section 5.02(c) (if applicable law
is amended or clarified such that any such restriction may be relaxed or
eliminated), (v) as evidenced by an Opinion of Counsel delivered to the
Trustee, either (X) to comply with any requirements imposed by the Code or any
successor or amendatory statute or any temporary or final regulation, revenue
ruling, revenue procedure or other written official announcement or
interpretation relating to federal income tax laws or any such proposed action
which, if made effective, would apply retroactively to any REMIC Pool or
either Grantor Trust Pool at least from the effective date of such amendment,
or (Y) to avoid the occurrence of a prohibited transaction or to reduce the
incidence of any tax that would arise from any actions taken with respect to
the operation of any REMIC Pool or either Grantor Trust Pool, (vi) subject to
Section 5.02(d)(iv), to modify, add to or eliminate any of the provisions of
Section 5.02(d)(i), (ii) or (iii), or (vii) to avoid an Adverse Rating Event
with respect to any Class of Rated Certificates; provided that no such
amendment may significantly change the activities of the Trust; and provided,
further, that any such amendment for the specific purposes described in clause
(iii), (iv) or (vii) above shall not adversely affect in any material respect
the interests of any Certificateholder, any Non-Trust Companion Loan Holder or
any third-party beneficiary to this Agreement or any provision hereof, as
evidenced by the Trustee's receipt of an Opinion of Counsel to that effect
(or, alternatively, in the case of a Class of Rated Certificates, written
confirmation from each applicable Rating Agency to the effect that such
amendment shall not result in an Adverse Rating Event with respect to any
Class of Rated Certificates); and provided, further, that with respect to any
such amendment for the specific purposes described in clause (iii) above, the
Trustee shall receive written confirmation from each applicable Rating Agency
to the effect that such amendment shall not result in an Adverse Rating Event
with respect to any Class of Rated Certificates.

          (b) This Agreement may also be amended from time to time by the
mutual agreement of the parties hereto, with the consent of the Holders of
Certificates entitled to not less than 51% of the Voting Rights allocated to
all of the Classes that are materially affected by the amendment, 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 of Certificates; provided, however, that no such
amendment shall (i) reduce in any manner the amount of, or delay the timing
of, payments received or advanced on Mortgage Loans and/or REO Properties
which are required to be distributed on any Certificate, without the consent
of the Holder of such Certificate, or which are required to be distributed to
any Non-Trust Companion Loan Holder, without the consent of such Non-

                                    -256-
<PAGE>

Trust Companion Loan Holder, (ii) adversely affect in any material
respect the interests of the Holders of any Class of Certificates or the
interests of any Non-Trust Companion Loan Holder in a manner other than as
described in clause (i) above, without the consent of the Holders of all
Certificates of such Class or the consent of any such Non-Trust Companion Loan
Holder, as applicable, (iii) modify the provisions of this Section 11.01 or
the definition of "Servicing Standard", without the consent of the Holders of
all Certificates then outstanding and the consent of the Non-Trust Companion
Loan Holders, (iv) significantly change the activities of the Trust, without
the consent of the Holders of Certificates entitled to not less than 66 2/3%
of all the Voting Rights (not taking into account Certificates held by the
Depositor or any of its Affiliates or agents), or (v) adversely affect in any
material respect the interests of any third-party beneficiary to this
Agreement or any provision herein, without the consent of such third-party
beneficiary. Notwithstanding any other provision of this Agreement, for
purposes of the giving or withholding of consents pursuant to this Section
11.01, Certificates registered in the name of the Depositor or any Affiliate
of the Depositor shall be entitled to the same Voting Rights with respect to
the matters described above as they would if registered in the name of any
other Person.

          (c) Notwithstanding any contrary provision of this Agreement, the
Trustee, the Master Servicer and the Special Servicer shall not consent to any
amendment to this Agreement unless each of them shall first have obtained or
been furnished with an Opinion of Counsel to the effect that neither such
amendment nor the exercise of any power granted to any party hereto in
accordance with such amendment will result in an Adverse REMIC Event with
respect to any REMIC Pool or an Adverse Grantor Trust Event with respect to
either Grantor Trust Pool.

          (d) Promptly after the execution and delivery of any amendment by
all parties thereto, the Trustee shall send a copy thereof to each
Certificateholder and each Non-Trust Companion Loan Holder and to each Rating
Agency.

          (e) It shall not be necessary for the consent of Certificateholders
under this Section 11.01 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, execution and delivery thereof by Certificateholders shall be
subject to such reasonable regulations as the Trustee may prescribe.

          (f) The Trustee may but shall not be obligated to enter into any
amendment pursuant to this Section 11.01 that affects its rights, duties and
immunities under this Agreement or otherwise.

          (g) The cost of any Opinion of Counsel to be delivered pursuant to
Section 11.01(a) or (c) shall be borne by the Person seeking the related
amendment, except that if the Trustee requests any amendment of this Agreement
that it reasonably believes protects or is in furtherance of the rights and
interests of Certificateholders, the cost of any Opinion of Counsel required
in connection therewith pursuant to Section 11.01(a) or (c) shall be payable
out of the Distribution Account.

          SECTION 11.02. Recordation of Agreement; Counterparts.

          (a) To the extent permitted by applicable law, 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 to be
effected by the Master Servicer at the expense of the Depositor on direction
by the Trustee, but only upon direction

                                    -257-
<PAGE>

accompanied by an Opinion of Counsel (the cost of which shall be
paid by the Depositor or, to the extent that it benefits any Non-Trust
Companion Loan Holder, by such Non-Trust Companion Loan Holder) to the effect
that such recordation materially and beneficially affects the interests of the
Certificateholders and/or the Non-Trust Companion Loan Holders.

          (b) For the purpose of facilitating the recordation of this
Agreement as herein provided and for other purposes, this Agreement may be
executed simultaneously in any number of counterparts, each of which
counterparts shall be deemed to be an original, and such counterparts shall
constitute but one and the same instrument.

          SECTION 11.03. Limitation on Rights of Certificateholders and
                         Non-Trust Companion Loan Holders.

          (a) The death or incapacity of any Certificateholder or any
Non-Trust Companion Loan Holder shall not operate to terminate this Agreement
or the Trust Fund, nor entitle such Certificateholder's or Non-Trust Companion
Loan Holder's legal representatives or heirs to claim an accounting or to take
any action or proceeding in any court for a partition or winding up of the
Trust Fund, nor otherwise affect the rights, obligations and liabilities of
the parties hereto or any of them.

          (b) No Certificateholder or Non-Trust Companion Loan Holder shall
have any right to vote (except as expressly provided for herein) or in any
manner otherwise control the operation and management of the Trust Fund, 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 and/or the Non-Trust Companion Loan Holders from time
to time as partners or members of an association; nor shall any
Certificateholder or any Non-Trust Companion Loan Holder be under any
liability to any third party by reason of any action taken by the parties to
this Agreement pursuant to any provision hereof.

          (c) No Certificateholder or Non-Trust Companion Loan Holder shall
have any right by virtue 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 or any Mortgage Loan, unless, in the case of a
Certificateholder, with respect to any suit, action or proceeding upon or
under or with respect to this Agreement, such Holder previously shall have
given to the Trustee a written notice of default hereunder, and of the
continuance thereof, as hereinbefore provided, and unless also (except in the
case of a default by the Trustee) the Holders of Certificates of any Class
evidencing not less than 25% of the Voting Rights 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 costs, expenses and
liabilities to be incurred therein or thereby, and the Trustee, for 60 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. The
Trustee shall be under no obligation to exercise any of the trusts or powers
vested in it hereunder or to institute, conduct or defend any litigation
hereunder or in relation hereto at the request, order or direction of any of
the Holders of Certificates unless such Holders have offered to the Trustee
reasonable security against the costs, expenses and liabilities which may be
incurred therein or hereby.

          It is understood and intended, and 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
whatsoever by virtue of any provision of this Agreement to affect, disturb or

                                    -258-
<PAGE>

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,
which priority or preference is not otherwise provided for herein, or to
enforce any right under this Agreement, except in the manner herein provided
and for the equal, ratable and common benefit of all Certificateholders. For
the protection and enforcement of the provisions of this Section 11.03(c),
each and every Certificateholder and the Trustee shall be entitled to such
relief as can be given either at law or in equity.

          SECTION 11.04. Governing Law.

          This Agreement and the Certificates shall be construed in accordance
with the laws of the State of New York applicable to agreements made and to be
performed entirely in said State, and the obligations, rights and remedies of
the parties hereunder shall be determined in accordance with such laws. The
parties hereto intend that the provisions of Section 5-1401 of the New York
General Obligations Law shall apply to this Agreement.

          SECTION 11.05. Notices.

          Any communications provided for or permitted hereunder shall be in
writing (including by telecopy) and, unless otherwise expressly provided
herein, shall be deemed to have been duly given when delivered to or, in the
case of telecopy notice, when received: (i) in the case of the Depositor,
Credit Suisse First Boston Mortgage Securities Corp., 11 Madison Avenue, 5th
Floor, New York, New York 10010, Attention: Edmund Taylor, telecopy number:
(212) 743-4756 (with a copy to Pamela McCormack, telecopy number: (917)
326-7805); (ii) in the case of the Master Servicer, KeyCorp Real Estate
Capital Markets, Inc., 911 Main Street, Suite 1500, Kansas City, Missouri
64105, telecopy number: (816) 221-8848, Attention: E.J. Burke (with a copy to
Robert C. Bowes, KeyBank National Association, 127 Public Square, Cleveland,
Ohio 44114, telecopy: (216) 689-5681); (iii) in the case of the Special
Servicer, Lennar Partners, Inc., 760 Northwest 107th Avenue, Suite 400, Miami,
Florida 33172, Attention: Ron Schrager, telecopy number: (305) 226-3428; (iv)
in the case of the Trustee, Wells Fargo Bank Minnesota, N.A., to the Corporate
Trust Office, telecopy number (410) 715-2380; (v) in the case of the Rating
Agencies, (A) Moody's Investors Service Inc., 99 Church Street, New York, New
York 10007, Attention: Commercial MBS Monitoring Department, telecopy number
(212) 553-0300 and (B) Standard & Poor's Ratings Services, a division of The
McGraw-Hill Companies, Inc., 55 Water Street, New York, New York 10041,
Attention: CMBS Surveillance Department, telecopy number: (212) 438-2662; (vi)
in the case of a Mortgage Loan Seller, the address for notices to such
Mortgage Loan Seller under the related Mortgage Loan Purchase Agreement; and
(vii) in the case of the Column Performance Guarantor, the address for notices
to the Column Performance Guarantor under the Column Performance Guarantee; or
as to each such Person such other address and/or telecopy number as may
hereafter be furnished by such Person to the parties hereto in writing. Any
communication required or permitted to be delivered to a Certificateholder
shall be deemed to have been duly given when mailed first class, postage
prepaid, to the address of such Holder as shown in the Certificate Register.

          SECTION 11.06. 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

                                    -259-
<PAGE>

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 11.07. Grant of a Security Interest.

          The Depositor and the Trustee intend that the conveyance of the
Depositor's right, title and interest in and to the Trust Mortgage Loans
pursuant to this Agreement shall constitute a sale and not a pledge of
security for a loan. If such conveyance is deemed to be a pledge of security
for a loan, however, the Depositor and the Trustee intend that the rights and
obligations of the parties to such loan shall be established pursuant to the
terms of this Agreement. The Depositor also intends and agrees that, in such
event, (i) the Depositor shall be deemed to have granted to the Trustee (in
such capacity) a first priority security interest in the Depositor's entire
right, title and interest in and to the assets comprising the Trust Fund,
including without limitation, the Trust Mortgage Loans, all principal and
interest received or receivable with respect to the Trust Mortgage Loans
(other than principal and interest payments due and payable prior to the
Cut-off Date and Principal Prepayments received prior to the Cut-off Date),
all amounts held from time to time in the Collection Account, any Mortgage
Loan Combination Custodial Account (insofar as such amounts relate to the
related Trust Mortgage Loan or any successor REO Trust Mortgage Loan with
respect thereto), the Distribution Account and, if established, the REO
Account, and all reinvestment earnings on such amounts, and all of the
Depositor's right, title and interest in and to the proceeds of any title,
hazard or other Insurance Policies related to such Trust Mortgage Loans and
(ii) this Agreement shall constitute a security agreement under applicable
law. This Section 11.07 shall constitute notice to the Trustee pursuant to any
of the requirements of the applicable UCC.

          SECTION 11.08. Successors and Assigns; Beneficiaries.

          The provisions of this Agreement shall be binding upon and inure to
the benefit of the respective successors and assigns of the parties hereto,
and all such provisions shall inure to the benefit of the Certificateholders,
the Non-Trust Companion Loan Holders and the other Persons referred to in
Section 6.03. No other person, including, without limitation, any Borrower,
shall be entitled to any benefit or equitable right, remedy or claim under
this Agreement.

          SECTION 11.09. Article and Section Headings.

          The article and Section headings herein are for convenience of
reference only, and shall not limit or otherwise affect the meaning hereof.

          SECTION 11.10. Notices to Rating Agencies.

          (a) The Trustee shall use reasonable efforts promptly to provide
notice to each Rating Agency with respect to each of the following of which a
Responsible Officer of the Trustee has actual knowledge:

               (i) any material change or amendment to this Agreement;

              (ii) the occurrence of any Event of Default that has not been
          cured;

                                    -260-
<PAGE>

              (iii) the resignation or termination of the Master Servicer or
          the Special Servicer;

              (iv) any change in the location of the Distribution Account,
          the Excess Interest Distribution Account, the Excess Liquidation
          Proceeds Account or the Interest Reserve Account;

               (v) the repurchase of Trust Mortgage Loans by or on behalf of
          any Mortgage Loan Seller pursuant to Section 7 of the related
          Mortgage Loan Purchase Agreement or the Column Performance
          Guarantee; and

               (vi) the final payment to any Class of Certificateholders.

          (b) The Master Servicer shall use reasonable efforts promptly to
provide notice to each Rating Agency with respect to each of the following of
which it has actual knowledge:

               (i) the resignation or removal of the Trustee; and

              (ii) any change in the location of the Collection Account or
          any Mortgage Loan Combination Custodial Account.

          (c) Each of the Master Servicer and the Special Servicer shall
promptly furnish to each Rating Agency copies of the following:

               (i) each of its annual statements as to compliance described in
          Section 3.13;

              (ii) all reports and other items for Trust Mortgage Loans
          delivered by each of the Master Servicer and Special Servicer
          pursuant to Section 3.12 (to the extent requested by such Rating
          Agency);

             (iii) each of its annual independent public accountants'
          servicing reports described in Section 3.14;

              (iv) each waiver and consent provided pursuant to Section 3.08
          for Trust Mortgage Loans that, in each case, represent 2% or more of
          the aggregate principal balance of the Mortgage Pool;

               (v) any officers' certificates delivered by the Master Servicer
          and the Special Servicer to the Trustee;

              (vi) all site inspections (to the extent requested by such
          Rating Agency);

             (vii) all operating statements (to the extent requested by such
          Rating Agency);

            (viii) all rent rolls and sales reports to the extent provided
          by the Borrowers and requested by such Rating Agency;

              (ix) any proposed no downgrade request;

                                    -261-
<PAGE>

               (x) any extension or modification of the Maturity Date of any
          Trust Mortgage Loan;

              (xi) any modification, waiver or amendment of any material term
          of any Trust Mortgage Loan with a Stated Principal Balance in excess
          of $5,000,000; and

             (xii) any other document that shall be reasonably requested by
          any Rating Agency.

          (d) The Trustee shall promptly after each Distribution Date make
available to each Rating Agency a copy of the related Trustee Report.

          (e) If any Mayfair Mall Non-Trust Companion Loan is included in a
rated securitization, each of the Master Servicer and the Special Servicer
shall (at no expense to the Trust Fund) furnish to any of the rating agencies
monitoring securities backed by such Mayfair Mall Non-Trust Companion Loan
such information with respect to such Mayfair Mall Non-Trust Companion Loan as
such rating agency shall reasonably request and which the Master Servicer or
the Special Servicer, as the case may be, can reasonably provide to the extent
consistent with applicable law and the related Mortgage Loan Documents and
without waiving any attorney-client privilege relating to such information.
The Master Servicer and the Special Servicer hereby agree to deliver to each
Rating Agency any information such Rating Agency may reasonably request.

                                    -262-
<PAGE>

          IN WITNESS WHEREOF, the parties to this Pooling and Servicing
Agreement have caused their names to be signed hereto by their respective
officers thereunto duly authorized, in each case as of the day and year first
above written.

                                     CREDIT SUISSE FIRST BOSTON MORTGAGE
                                     SECURITIES CORP.
                                      Depositor

                                     By: /s/ Jeffrey Altabef
                                        -------------------------------------
                                        Name:  Jeffrey Altabef
                                        Title: Director

                                     KEYCORP REAL ESTATE CAPITAL MARKETS, INC.
                                      Master Servicer

                                     By: /s/ Clay M. Sublett
                                        -------------------------------------
                                        Name:  Clay M. Sublett
                                        Title: Sr. Vice President

                                     LENNAR PARTNERS, INC.
                                      Special Servicer

                                     By: /s/ Shelly L. Rubin
                                        -------------------------------------
                                        Name:  Shelly L. Rubin
                                        Title: Vice President

                                     WELLS FARGO BANK MINNESOTA, N.A.,
                                      as Trustee

                                     By: /s/ Deborah Daniels
                                        -------------------------------------
                                        Name:  Deborah Daniels
                                        Title: Vice President

<PAGE>

STATE OF NEW YORK            )
                             )  ss.:
COUNTY OF NEW YORK           )

               On the ___ day of September, 2003 before me, a notary public in
and for said State, personally appeared _____________________________, known
to me to be a ______________ of Credit Suisse First Boston Mortgage Securities
Corp., one of the entities that executed the within instrument, and also known
to me to be the person who executed it on behalf of said 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.

                   -----------------------------------------------
                                         Notary Public

<PAGE>

STATE OF MISSOURI           )
                            )  ss.:
COUNTY OF JACKSON           )

               On the ___ day of September, 2003 before me, a notary public in
and for said State, personally appeared ________________________,
known to me to be a ________________________ of KeyCorp Real Estate
Capital Markets, Inc., one of the entities that executed the within
instrument, and also known to me to be the person 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.

                        -----------------------------------------
                                     Notary Public

<PAGE>

STATE OF FLORIDA             )
                             )  ss.:
COUNTY OF MIAMI-DADE         )

               On the ___ day of September, 2003 before me, a notary public in
and for said State, personally appeared ____________________________, known to
me to be a ____________________________ of Lennar Partners, Inc., one of the
entities that executed the within instrument, and also known to me to be the
person who executed it on behalf of said 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.

                     -----------------------------------
                                   Notary Public

<PAGE>

STATE OF NEW YORK            )
                             )  ss.:
COUNTY OF NEW YORK           )

               On the ___ day of September, 2003 before me, a notary public in
and for said State, personally appeared ____________________________, known to
me to be a ____________________________ of Wells Fargo Bank Minnesota, N.A.,
one of the entities that executed the within instrument, and also known to me
to be the person who executed it on behalf of said 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.

                   ------------------------------------
                               Notary Public

<PAGE>

                                  EXHIBIT A-1

                    FORM OF CLASS [A-X] [A-SP] CERTIFICATES

        CLASS [A-X] [A-SP] COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATE,
                                 SERIES 2003-C4

This is one of a series of commercial mortgage pass-through certificates
(collectively, the "Certificates"), issued in multiple classes (each, a
"Class"), which series of Certificates evidences the entire beneficial
ownership interest in a trust fund (the "Trust Fund") consisting primarily of a
pool of multifamily and commercial mortgage loans (the "Mortgage Loans"), such
pool being formed and sold by:

              CREDIT SUISSE FIRST BOSTON MORTGAGE SECURITIES CORP.

Pass-Through Rate: Variable             Class Notional Amount of the Class [A-X]
                                        [A-SP] Certificates as of the Closing
                                        Date:
                                        $________________

Closing Date: September 29, 2003        Initial Certificate Notional Amount of
                                        this Certificate as of the Closing Date:
First Distribution Date: October 17,    $________________
2003

Master Servicer:                        Aggregate Stated Principal Balance of
KeyCorp Real Estate Capital Markets,    the Mortgage Loans as of the Closing
Inc.                                    Date ("Initial Pool Balance"):
                                        $1,339,373,694
Special Servicer:
Lennar Partners, Inc.

                                        Trustee:
                                        Wells Fargo Bank Minnesota, N.A.

Certificate No. [A-X] [A-SP]-__         CUSIP No.:  _____________
                                        Common Code:  _____________
                                        ISIN No.:  _____________

                                     A-1-1
<PAGE>

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION ("DTC"), TO THE TRUSTEE OR ANY
AGENT THEREOF 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 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 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, PLEDGE, 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 5.02 OF THE POOLING AND
SERVICING AGREEMENT REFERRED TO HEREIN.

NO TRANSFER OF THIS CERTIFICATE OR ANY INTEREST HEREIN MAY BE MADE TO (A) ANY
RETIREMENT PLAN OR OTHER EMPLOYEE BENEFIT PLAN OR 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 (B) ANY PERSON WHO IS DIRECTLY OR INDIRECTLY PURCHASING THIS CERTIFICATE OR
SUCH INTEREST HEREIN 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, EXCEPT IN ACCORDANCE WITH THE PROVISIONS OF SECTION 5.02 OF THE
POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.

THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN CREDIT
SUISSE FIRST BOSTON MORTGAGE SECURITIES CORP., WELLS FARGO BANK MINNESOTA,
N.A., KEYCORP REAL ESTATE CAPITAL MARKETS, INC., LENNAR PARTNERS, INC., OR ANY
OF THEIR RESPECTIVE AFFILIATES. NEITHER THIS CERTIFICATE NOR ANY OF THE
UNDERLYING MORTGAGE LOANS IS GUARANTEED BY ANY AGENCY OR INSTRUMENTALITY OF THE
UNITED STATES OR ANY OTHER PERSON.

SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE IS A "REGULAR
INTEREST" IN A "REAL ESTATE MORTGAGE INVESTMENT CONDUIT" (A "REMIC") AS THOSE
TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE CODE.

                                     A-1-2
<PAGE>

THE OUTSTANDING CERTIFICATE NOTIONAL AMOUNT HEREOF AT ANY TIME MAY BE LESS THAN
THE AMOUNT SHOWN ABOVE. THIS CERTIFICATE DOES NOT HAVE A CERTIFICATE PRINCIPAL
BALANCE AND WILL NOT ENTITLE THE HOLDER HEREOF TO DISTRIBUTIONS OF PRINCIPAL.

PRIOR TO THE DATE THAT IS 40 DAYS AFTER THE LATER OF (A) THE COMMENCEMENT OF
THE OFFERING TO PERSONS OTHER THAN DISTRIBUTORS IN RELIANCE ON REGULATION S
UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND (B) THE DATE OF CLOSING OF
THE OFFERING, THIS CERTIFICATE 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.

          This certifies that [CEDE & CO.] is the registered owner of the
Percentage Interest evidenced by this Certificate (obtained by dividing the
notional amount of this Certificate (its "Certificate Notional Amount") as of
the Closing Date by the aggregate notional amount of all the Class [A-X] [A-SP]
Certificates (their "Class Notional Amount") as of the Closing Date) in that
certain beneficial ownership interest in the Trust Fund evidenced by all the
Class [A-X] [A-SP] Certificates. The Trust Fund was created and the
Certificates were issued pursuant to a Pooling and Servicing Agreement, dated
as of September 11, 2003 (the "Agreement"), among Credit Suisse First Boston
Mortgage Securities Corp., as depositor (the "Depositor", which term includes
any successor entity under the Agreement), KeyCorp Real Estate Capital Markets,
Inc., as master servicer (in such capacity, the "Master Servicer", which term
includes any successor entity under the Agreement), Lennar Partners, Inc., as
special servicer (in such capacity, the "Special Servicer", which term includes
any successor entity under the Agreement), and Wells Fargo Bank Minnesota,
N.A., as trustee (the "Trustee", which term includes any successor entity under
the Agreement), a summary of certain of the pertinent provisions of which is
set forth hereafter. To the extent not defined herein, capitalized terms used
herein have the respective meanings assigned thereto in the Agreement. This
Certificate is issued under and is subject to the terms, provisions and
conditions of the Agreement, to which Agreement the Holder of this Certificate
by virtue of its acceptance hereof assents and by which such Holder is bound.

          Pursuant to the terms of the Agreement, beginning on the First
Distribution Date specified above, distributions will be made on that date (the
"Distribution Date") each month that is the fourth Business Day following the
Determination Date in such month, 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"), in an
amount equal to the product of the Percentage Interest evidenced by this
Certificate and the amount required to be distributed to all the Holders of the
Class [A-X] [A-SP] Certificates on the applicable Distribution Date pursuant to
the Agreement. All distributions made under the Agreement on this Certificate
will be made by the Trustee by wire transfer of immediately available funds to
the account of the Person entitled thereto at a bank or other entity having
appropriate facilities therefor, if such Certificateholder shall have provided
the Trustee with wiring instructions no later than the related Record Date
(which wiring instructions may be in the form of a standing order applicable to
all subsequent distributions), or otherwise by check mailed to the address of
such Certificateholder as it appears in the Certificate Register.
Notwithstanding the foregoing, the final distribution on this Certificate will
be made in like manner, but only upon presentation and surrender of this
Certificate at the offices of the Certificate Registrar or such other location
specified in the notice to the Holder hereof of such final distribution.

                                     A-1-3
<PAGE>

          The Certificates are limited in right of distribution to certain
collections and recoveries respecting the Mortgage Loans, all as more
specifically set forth herein and in the Agreement. As provided in the
Agreement, withdrawals from the Distribution Account, the Collection Account,
the Mayfair Mall Custodial Account and, if established, the REO Account or any
A/B Mortgage Loan Pair Custodial Account may be made from time to time for
purposes other than, and, in certain cases, prior to, distributions to
Certificateholders, such purposes including the reimbursement of advances made,
or certain expenses incurred, with respect to the Mortgage Loans and the
payment of interest on such advances and expenses.

          This Certificate is issuable in fully registered form only without
coupons. As provided in the Agreement and subject to certain limitations
therein set forth, this Certificate is exchangeable for new Certificates of the
same Class in authorized denominations evidencing the same aggregate Percentage
Interest, as requested by the Holder surrendering the same.

          No transfer, sale, pledge or other disposition of this Certificate or
any interest herein shall be made unless that 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 this Certificate is to be made without registration under the
Securities Act, then (except under limited circumstances specified in the
Agreement) 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 F-1A to the Agreement; or (ii) a
certificate from the Certificateholder desiring to effect such transfer
substantially in the form attached as Exhibit F-1B to the Agreement and a
certificate from such Certificateholder's prospective Transferee substantially
in the form attached either as Exhibit F-2A or as Exhibit F-2B to the
Agreement; or (iii) an Opinion of Counsel satisfactory to the Trustee to the
effect that such transfer may be made without registration under the Securities
Act (which Opinion of Counsel shall not be an expense of the Trust or of the
Depositor, the Master Servicer, the Special Servicer, the Trustee or the
Certificate Registrar in their respective capacities as such), 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.

          If this Certificate constitutes a Rule 144A Global Certificate and a
transfer of any interest in this Certificate is to be made without registration
under the Securities Act, then (except under limited circumstances specified in
the Agreement) 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 F-2C to
the Agreement, or (ii) an Opinion of Counsel to the effect that such
prospective Transferee is a Qualified Institutional Buyer and such transfer may
be made without registration under the Securities Act. Except as discussed
below, if this Certificate constitutes a Rule 144A Global Certificate, then
interests herein shall not be transferred to any Person other than a Qualified
Institutional Buyer that takes delivery in the form of an interest in this Rule
144A Global Certificate.

          Notwithstanding the preceding paragraph, if this Certificate
constitutes a Rule 144A Global Certificate, then interests herein may be
transferred (without delivery of any certificate or Opinion of Counsel
described in the preceding paragraph) to any Person who takes delivery in the
form of a beneficial interest in the Regulation S Global Certificate of the
same Class as this Rule 144A Global

                                     A-1-4
<PAGE>

Certificate upon delivery to the Certificate Registrar and the Trustee of (x) a
certificate from the Certificate Owner desiring to effect such transfer
substantially in the form attached as Exhibit F-1D to the Agreement and a
certificate from such Certificate Owner's prospective Transferee substantially
in the form attached as Exhibit F-2D to the Agreement and (y) such written
orders and instructions as are required under the applicable procedures of DTC,
Clearstream and/or Euroclear to direct the Trustee to debit the account of a
Depository Participant by a denomination of interests in this Rule 144A Global
Certificate, and credit the account of a Depository Participant by a
denomination of interests in such Regulation S Global Certificate, that is
equal to the denomination of beneficial interests in such Class to be
transferred. Upon delivery to the Certificate Registrar of such certifications
and such orders and instructions, the Trustee, subject to and in accordance
with the applicable procedures of DTC, shall reduce the denomination of this
Rule 144A Global Certificate, and increase the denomination of the related
Regulation S Global Certificate, by the denomination of the beneficial interest
in the subject Class specified in such orders and instructions.

          Except as discussed below, if this Certificate constitutes a
Regulation S Global Certificate, then beneficial interests in this Certificate
shall not be transferred to any Person other than a non-United States
Securities Person that takes delivery in the form of an interest in this
Certificate, and the Certificate Owner desiring to effect such transfer shall
be required to obtain from such Certificate Owner's prospective Transferee a
certification substantially in the form attached as Exhibit F-2D to the
Agreement. On or prior to the Release Date, beneficial interests in any
Regulation S Global Certificate may be held only through Euroclear or
Clearstream. After the Release Date, beneficial interests in any Regulation S
Global Certificate may be held through Euroclear, Clearstream or any other
direct account holder at DTC.

          Notwithstanding the preceding paragraph, if this Certificate
constitutes a Regulation S Global Certificate, then interests in this
Certificate may be transferred (without delivery of any certificate described
in the preceding paragraph) to any Person who takes delivery in the form of a
beneficial interest in the Rule 144A Global Certificate for the same Class as
this Regulation S Global Certificate upon delivery to the Certificate Registrar
and the Trustee of (i) a certificate from the Certificate Owner desiring to
effect such transfer substantially in the form attached as Exhibit F-1C to the
Agreement and a certificate from such Certificate Owner's prospective
Transferee substantially in the form attached as Exhibit F-2C to the Agreement
and (ii) such written orders and instructions as are required under the
applicable procedures of the Depository, Clearstream and/or Euroclear to direct
the Trustee to debit the account of a Depository Participant by a denomination
of interests in this Regulation S Global Certificate, and credit the account of
a Depository Participant by a denomination of interests in the related Rule
144A Global Certificate, that is equal to the denomination of beneficial
interests to be transferred. Upon delivery to the Trustee of such
certifications and such orders and instructions, the Trustee, subject to and in
accordance with the applicable procedures of the Depository, shall reduce the
denomination of this Regulation S Global Certificate, and increase the
denomination of the related Rule 144A Global Certificate, by the denomination
of the beneficial interest in the subject Class specified in such orders and
instructions.

          Notwithstanding the foregoing, any interest in a Global Certificate
may be transferred by any Certificate Owner holding such interest to any Person
who takes delivery in the form of a Definitive Certificate of the same Class as
such Global Certificate upon delivery to the Certificate Registrar and the
Trustee of (i) such certifications and/or opinions as are contemplated above
with respect to transfers of this Certificate in definitive form and (ii) such
written orders and instructions as are required under the

                                     A-1-5
<PAGE>

applicable procedures of the Depository, Clearstream and/or Euroclear to direct
the Trustee to debit the account of a Depository Participant by a denomination
of interests in such Global Certificate. Upon delivery to the Certificate
Registrar of the certifications and/or opinions contemplated above with respect
to transfers of this Certificate in definitive form, the Trustee, subject to
and in accordance with the applicable procedures of the Depository, shall
reduce the denomination of the subject Global Certificate, and cause a
Definitive Certificate of the same Class as such Global Certificate, and in a
denomination equal to the reduction in the denomination of such Global
Certificate, to be executed, authenticated and delivered in accordance with
this Agreement to the applicable Transferee.

          The Global Certificates shall be deposited with the Trustee as
custodian for DTC and registered in the name of Cede & Co. as nominee of DTC.

          None of the Depositor, the Trustee or the Certificate Registrar is
obligated to register or qualify the Class [A-X] [A-SP] Certificates under the
Securities Act or any other securities law or to take any action not otherwise
required under the Agreement to permit the transfer of this Certificate or any
interest herein without registration or qualification. Any Certificateholder or
Certificate Owner desiring to effect a transfer of this Certificate or any
interest herein shall, and does hereby agree to, indemnify CSFB LLC, the
Depositor, the Trustee, the Master Servicer, the Special Servicer and the
Certificate Registrar against any liability that may result if the transfer is
not so exempt or is not made in accordance with such federal and state laws or
the provisions described in the preceding paragraphs.

          No transfer of this Certificate or any interest herein shall be made
(A) to any retirement plan or other employee benefit plan or 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 insurance company general accounts,
that is subject to ERISA or Section 4975 of the Code (each, a "Plan"), or (B)
to any Person who is directly or indirectly purchasing this Certificate or any
interest herein on behalf of, as named fiduciary of, as trustee of, or with
assets of a Plan, if the purchase and holding of this Certificate or such
interest herein by the prospective Transferee would result in a violation of
Section 406 or 407 of ERISA or Section 4975 of the Code or would result in the
imposition of an excise tax under Section 4975 of the Code. Except in limited
circumstances, the Certificate Registrar shall refuse to register the transfer
of this Certificate (and, if applicable, any Certificate Owner shall refuse to
transfer an interest in this Certificate), unless it has received from the
prospective Transferee either (i) a certification to the effect that such
prospective Transferee is not a Plan and is not directly or indirectly
purchasing this Certificate on behalf of, as named fiduciary of, as trustee of,
or with assets of a Plan; or (ii) a certification to the effect that the
purchase and holding of this Certificate by such prospective Transferee is
exempt from the prohibited transaction provisions of Sections 406 and 407 of
ERISA and Section 4975 of the Code by reason of Sections I and III of
Prohibited Transaction Class Exemption 95-60; or (iii) if this Certificate is
rated investment grade by at least one of the Rating Agencies and is being
acquired by, on behalf of or with assets of a Plan in reliance upon Prohibited
Transaction Exemption 89-90, a certification to the effect that such Plan (X)
is an accredited investor as defined in Rule 501(a)(1) of Regulation D of the
Securities Act, (Y) is not sponsored (within the meaning of Section 3(16)(B) of
ERISA) by the Trustee, the Depositor, Column, KeyBank, any Exemption-Favored
Party, the Master Servicer, the Special Servicer, any Sub-Servicer or any
Borrower with respect to Mortgage Loans constituting more than 5% of the
aggregate unamortized principal of all the Mortgage Loans determined as of the
Closing Date, or by an Affiliate of any such Person, and (Z) agrees that it
will obtain from each of its Transferees a written representation that such
Transferee, if a Plan, satisfies the requirements of the immediately

                                     A-1-6
<PAGE>

preceding clauses (iii)(X) and (iii)(Y), together with a written agreement that
such Transferee will obtain from each of its Transferees that are Plans a
similar written representation regarding satisfaction of the requirements of
the immediately preceding clauses (iii)(X) and (iii)(Y); or (iv) a
certification of facts and an Opinion of Counsel which otherwise establish to
the reasonable satisfaction of the Trustee (or, if applicable, the Certificate
Owner effecting the transfer) that such transfer will not result in a violation
of Section 406 or 407 of ERISA or Section 4975 of the Code or result in the
imposition of an excise tax under Section 4975 of the Code.

          If a Person is acquiring this Certificate as a fiduciary or agent for
one or more accounts, such Person shall be required to deliver to the
Certificate Registrar a certification to the effect that, and such other
evidence as may be reasonably required by the Trustee to confirm that, it has
(i) sole investment discretion with respect to each such account and (ii) full
power to make the acknowledgments, representations, warranties, certifications
and/or agreements with respect to each such account as described above in this
Certificate.

          As provided in the 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 offices of the Certificate Registrar, duly endorsed by, or
accompanied by a written instrument of transfer in the form satisfactory to the
Certificate Registrar duly executed by, the Holder hereof or his attorney duly
authorized in writing, and thereupon one or more new Certificates of the same
Class in authorized denominations evidencing the same aggregate Percentage
Interest will be issued to the designated transferee or transferees.

          No service charge will be imposed for any registration of transfer or
exchange of this Certificate, but the Trustee or 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 this
Certificate.

          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, and accordingly, this
Certificate shall constitute a Book-Entry Certificate.

          The Depositor, the Master Servicer, the Special Servicer, the
Trustee, the Certificate Registrar and any agent of the Depositor, the Master
Servicer, the Special Servicer, the Trustee or the Certificate Registrar may
treat the Person in whose name this Certificate is registered as the owner
hereof for all purposes, and none of the Depositor, the Master Servicer, the
Special Servicer, the Trustee, the Certificate Registrar or any such agent
shall be affected by notice to the contrary.

          Subject to certain terms and conditions set forth in the Agreement,
the Trust Fund and the obligations created by the Agreement shall terminate
upon distribution (or provision for distribution) to the Certificateholders of
all amounts held by or on behalf of the Trustee and required to be distributed
to them pursuant to the Agreement following the earlier of (i) the final
payment or other liquidation (or any advance with respect thereto) of the last
Mortgage Loan or REO Property remaining in the Trust Fund and (ii) the purchase
by the Master Servicer, the Special Servicer, or any single Controlling Class
Certificateholder or group of Controlling Class Certificateholders with a
majority interest in the Controlling Class, at a price determined as provided
in the Agreement, of all the Mortgage Loans and each REO Property remaining in
the Trust Fund. The Agreement permits, but does not require, the

                                     A-1-7
<PAGE>

Master Servicer, the Special Servicer, or any single Controlling Class
Certificateholder or group of Controlling Class Certificateholders with a
majority interest in the Controlling Class to purchase from the Trust Fund all
the Mortgage Loans and each REO Property remaining therein. The exercise of
such right may effect early retirement of the Certificates; however, such right
to purchase is subject to the aggregate Stated Principal Balance of the
Mortgage Pool at the time of purchase being less than 1.0% of the Initial Pool
Balance.

          The Agreement permits, with certain exceptions therein provided, the
amendment thereof and the modification of the rights and obligations of the
Depositor, the Master Servicer, the Special Servicer and the Trustee and the
rights of the Certificateholders under the Agreement at any time by the
Depositor, the Master Servicer, the Special Servicer and the Trustee with the
consent of the Holders of Certificates entitled to not less than 51% of the
Voting Rights allocated to all of the Classes materially affected by the
amendment (subject to certain third-party beneficiary consent rights). 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 this Certificate.
The Agreement also permits the amendment thereof, in certain limited
circumstances, including any amendment necessary to maintain the status of any
REMIC Pool as a REMIC, without the consent of the Holders of any of the
Certificates.

          Unless the certificate of authentication hereon has been executed by
the Certificate Registrar, by manual signature, this Certificate shall not be
entitled to any benefit under the Agreement or be valid for any purpose.

          The registered Holder hereof, by its acceptance hereof, agrees that
it will look solely to the Trust Fund (to the extent of its rights therein) for
distributions hereunder.

          This Certificate shall be construed in accordance with the laws of
the State of New York applicable to agreements negotiated, made and to be
performed entirely in said State, and the obligations, rights and remedies of
the Holder hereof shall be determined in accordance with such laws.

                                     A-1-8
<PAGE>

          IN WITNESS WHEREOF, the Trustee has caused this Certificate to be
duly executed.

                        WELLS FARGO BANK MINNESOTA, N.A.
                        as Trustee

                        By:
                             ------------------------------------------
                                Authorized Representative

                         CERTIFICATE OF AUTHENTICATION

          This is one of the Class [A-X] [A-SP] Certificates referred to in the
within-mentioned Agreement.

Dated:

                        WELLS FARGO BANK MINNESOTA, N.A.
                        as Certificate Registrar

                         By:
                              ---------------------------------------------
                                 Authorized Representative

                                     A-1-9
<PAGE>

                                   ASSIGNMENT

          FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and
transfer(s) unto ______________________________________________________________
_______________________________________________________________________________
                 (please print or typewrite name and address
                 including postal zip code of assignee)

the beneficial ownership interest in the Trust Fund evidenced by the within
Mortgage Pass-Through Certificate and hereby authorize(s) the registration of
transfer of such interest to assignee on the Certificate Register of the Trust
Fund.

          I (we) further direct the Certificate Registrar to issue a new
Mortgage Pass-Through Certificate of a like Percentage Interest and Class to
the above named assignee and deliver such Mortgage Pass-Through Certificate to
the following address: ________________________________________________________
_______________________________________________________________________________

Dated:

                                         ______________________________________
                                         Signature by or on behalf of Assignor

                                         ______________________________________
                                         Signature Guaranteed

                           DISTRIBUTION INSTRUCTIONS

          The Assignee should include the following for purposes of
distribution:

          Distributions shall, if permitted, be made by wire transfer or
otherwise, in immediately available funds, to__________________________________
for the account of_____________________________________________________________.

          Distributions made by check (such check to be made payable to
___________________________) and all applicable statements and notices should
be mailed to___________________________________________________________________.

          This information is provided by______________________________________,
the Assignee named above, or __________________________________________________,
as its agent.

                                    A-1-10
<PAGE>

                                  EXHIBIT A-2

              FORM OF CLASS A-1, CLASS A-2, CLASS A-3, CLASS A-4,
               CLASS B, CLASS C, CLASS D AND CLASS E CERTIFICATES

 CLASS [A-1] [A-2] [A-3] [A-4] [B] [C] [D] [E] COMMERCIAL MORTGAGE PASS-THROUGH
                          CERTIFICATE, SERIES 2003-C4

This is one of a series of commercial mortgage pass-through certificates
(collectively, the "Certificates"), issued in multiple classes (each, a
"Class"), which series of Certificates evidences the entire beneficial
ownership interest in a trust fund (the "Trust Fund") consisting primarily of a
pool of multifamily and commercial mortgage loans (the "Mortgage Loans"), such
pool being formed and sold by

              CREDIT SUISSE FIRST BOSTON MORTGAGE SECURITIES CORP.

Pass-Through Rate: [____% per            Class Principal Balance of the
annum][variable]                         Class [A-1] [A-2] [A-3] [A-4] [B]
                                         [C] [D] [E] Certificates as of the
                                         Closing Date:
                                         $__________________

Closing Date: September 29, 2003         Initial Certificate Principal
                                         Balance of this Certificate as of
                                         the Closing Date:
First Distribution Date: October         $_________________
17, 2003

Master Servicer:                         Aggregate Stated Principal Balance
KeyCorp Real Estate Capital              of the Mortgage Loans as of the
Markets, Inc.                            Closing Date ("Initial Pool
                                         Balance"): $1,339,373,694

Special Servicer:
Lennar Partners, Inc.

                                         Trustee:
                                         Wells Fargo Bank Minnesota, N.A.

Certificate No. [A-1] [A-2] [A-3]        CUSIP No.:  _____________
[A-4] [B] [C] [D] [E]-___                Common Code:  _____________
                                         ISIN No.:  _____________

                                     A-2-1
<PAGE>

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION ("DTC"), TO THE TRUSTEE OR ANY
AGENT THEREOF 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 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.

NO TRANSFER OF THIS CERTIFICATE OR ANY INTEREST HEREIN MAY BE MADE TO (A) ANY
RETIREMENT PLAN OR OTHER EMPLOYEE BENEFIT PLAN OR 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 (B) ANY PERSON WHO IS DIRECTLY OR INDIRECTLY PURCHASING THIS CERTIFICATE OR
SUCH INTEREST HEREIN 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, EXCEPT IN ACCORDANCE WITH THE PROVISIONS OF SECTION 5.02 OF THE
POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.

THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN CREDIT
SUISSE FIRST BOSTON MORTGAGE SECURITIES CORP., WELLS FARGO BANK MINNESOTA,
N.A., KEYCORP REAL ESTATE CAPITAL MARKETS, INC., LENNAR PARTNERS, INC., OR ANY
OF THEIR RESPECTIVE AFFILIATES. NEITHER THIS CERTIFICATE NOR ANY OF THE
UNDERLYING MORTGAGE LOANS IS GUARANTEED BY ANY AGENCY OR INSTRUMENTALITY OF THE
UNITED STATES OR ANY OTHER PERSON.

SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE IS A "REGULAR
INTEREST" IN A "REAL ESTATE MORTGAGE INVESTMENT CONDUIT" (A "REMIC") AS THOSE
TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE CODE.

[FOR CLASS B, CLASS C, CLASS D AND CLASS E CERTIFICATES: THIS CERTIFICATE IS
SUBORDINATE TO ONE OR MORE CLASSES OF CERTIFICATES OF THE SAME SERIES AS AND TO
THE EXTENT DESCRIBED IN THE POOLING AND SERVICING AGREEMENT REFERRED TO
HEREIN.]

THE OUTSTANDING CERTIFICATE PRINCIPAL BALANCE HEREOF AT ANY TIME MAY BE LESS
THAN THE AMOUNT SHOWN ABOVE.

          This certifies that [CEDE & CO.] is the registered owner of the
Percentage Interest evidenced by this Certificate (obtained by dividing the
principal amount of this Certificate (its "Certificate Principal Balance") as
of the Closing Date by the aggregate principal amount of all the Class [A-1]
[A-2] [A-3] [A-4] [B] [C] [D] [E] Certificates (their "Class Principal
Balance") as of the

                                     A-2-2
<PAGE>

Closing Date) in that certain beneficial ownership interest in the Trust Fund
evidenced by all the Class [A-1] [A-2] [A-3] [A-4] [B] [C] [D] [E]
Certificates. The Trust Fund was created and the Certificates were issued
pursuant to a Pooling and Servicing Agreement, dated as of September 11, 2003
(the "Agreement"), among Credit Suisse First Boston Mortgage Securities Corp.,
as depositor (the "Depositor", which term includes any successor entity under
the Agreement), KeyCorp Real Estate Capital Markets, Inc., as master servicer
(in such capacity, the "Master Servicer", which term includes any successor
entity under the Agreement), Lennar Partners, Inc., as special servicer (in
such capacity, the "Special Servicer", which term includes any successor entity
under the Agreement) and Wells Fargo Bank Minnesota, N.A., as trustee (the
"Trustee", which term includes any successor entity under the Agreement), a
summary of certain of the pertinent provisions of which is set forth hereafter.
To the extent not defined herein, capitalized terms used herein have the
respective meanings assigned thereto in the Agreement. This Certificate is
issued under and is subject to the terms, provisions and conditions of the
Agreement, to which Agreement the Holder of this Certificate by virtue of its
acceptance hereof assents and by which such Holder is bound.

          Pursuant to the terms of the Agreement, beginning on the First
Distribution Date specified above, distributions will be made on that date (the
"Distribution Date") each month that is the fourth Business Day following the
Determination Date in such month, 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"), in an
amount equal to the product of the Percentage Interest evidenced by this
Certificate and the amount required to be distributed to all the Holders of the
Class [A-1] [A-2] [A-3] [A-4] [B] [C] [D] [E] Certificates on the applicable
Distribution Date pursuant to the Agreement. All distributions made under the
Agreement on this Certificate will be made by the Trustee by wire transfer of
immediately available funds to the account of the Person entitled thereto at a
bank or other entity having appropriate facilities therefor, if such
Certificateholder shall have provided the Trustee with wiring instructions no
later than the related Record Date (which wiring instructions may be in the
form of a standing order applicable to all subsequent distributions), or
otherwise by check mailed to the address of such Certificateholder as it
appears in the Certificate Register. Notwithstanding the foregoing, the final
distribution on this Certificate (determined without regard to any possible
future reimbursement of any portion of an Unfunded Principal Balance Reduction
in respect of this Certificate) will be made in like manner, but only upon
presentation and surrender of this Certificate at the offices of the
Certificate Registrar or such other location specified in the notice to the
Holder hereof of such final distribution.

          The Certificates are limited in right of distribution to certain
collections and recoveries respecting the Mortgage Loans, all as more
specifically set forth herein and in the Agreement. As provided in the
Agreement, withdrawals from the Distribution Account, the Collection Account,
the Mayfair Mall Custodial Account and, if established, the REO Account or any
A/B Mortgage Loan Pair Custodial Account may be made from time to time for
purposes other than, and, in certain cases, prior to, distributions to
Certificateholders, such purposes including the reimbursement of advances made,
or certain expenses incurred, with respect to the Mortgage Loans and the
payment of interest on such advances and expenses.

          Any distribution to the Holder of this Certificate in reduction of
the Certificate Principal Balance hereof is binding on such Holder and all
future Holders of this Certificate and any Certificate issued upon the transfer
hereof or in exchange herefor or in lieu hereof whether or not notation of such
distribution is made upon this Certificate.

                                     A-2-3
<PAGE>

          This Certificate is issuable in fully registered form only without
coupons. As provided in the Agreement and subject to certain limitations
therein set forth, this Certificate is exchangeable for new Certificates of the
same Class in authorized denominations evidencing the same aggregate Percentage
Interest, as requested by the Holder surrendering the same.

          No transfer of this Certificate or any interest herein shall be made
(A) to any retirement plan or other employee benefit plan or 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 insurance company general accounts,
that is subject to ERISA or Section 4975 of the Code (each, a "Plan"), or (B)
to any Person who is directly or indirectly purchasing this Certificate or any
interest herein on behalf of, as named fiduciary of, as trustee of, or with
assets of a Plan, if the purchase and holding of this Certificate or such
interest herein by the prospective Transferee would result in a violation of
Section 406 or 407 of ERISA or Section 4975 of the Code or would result in the
imposition of an excise tax under Section 4975 of the Code.

          As provided in the 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 offices of the Certificate Registrar, duly endorsed by, or
accompanied by a written instrument of transfer in the form satisfactory to the
Certificate Registrar duly executed by, the Holder hereof or his attorney duly
authorized in writing, and thereupon one or more new Certificates of the same
Class in authorized denominations evidencing the same aggregate Percentage
Interest will be issued to the designated transferee or transferees.

          No service charge will be imposed for any registration of transfer or
exchange of this Certificate, but the Trustee or 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 this
Certificate.

          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, and accordingly, this
Certificate shall constitute a Book-Entry Certificate.

          The Depositor, the Master Servicer, the Special Servicer, the
Trustee, the Certificate Registrar and any agent of the Depositor, the Master
Servicer, the Special Servicer, the Trustee, or the Certificate Registrar may
treat the Person in whose name this Certificate is registered as the owner
hereof for all purposes, and none of the Depositor, the Master Servicer, the
Special Servicer, the Trustee, the Certificate Registrar or any such agent
shall be affected by notice to the contrary.

          Subject to certain terms and conditions set forth in the Agreement,
the Trust Fund and the obligations created by the Agreement shall terminate
upon distribution (or provision for distribution) to the Certificateholders of
all amounts held by or on behalf of the Trustee and required to be distributed
to them pursuant to the Agreement following the earlier of (i) the final
payment or other liquidation (or any advance with respect thereto) of the last
Mortgage Loan or REO Property remaining in the Trust Fund, (ii) the purchase by
the Master Servicer, the Special Servicer, or any single Controlling Class
Certificateholder or group of Controlling Class Certificateholders with a
majority interest in the Controlling Class, at a price determined as provided
in the Agreement, of all the Mortgage Loans and each REO Property remaining in
the Trust Fund. The Agreement permits, but does not require, the

                                     A-2-4
<PAGE>

Master Servicer, the Special Servicer, or any single Controlling Class
Certificateholder or group of Controlling Class Certificateholders with a
majority interest in the Controlling Class to purchase from the Trust Fund all
the Mortgage Loans and each REO Property remaining therein. The exercise of
such right may effect early retirement of the Certificates; however, such right
to purchase is subject to the aggregate Stated Principal Balance of the
Mortgage Pool at the time of purchase being less than 1.0% of the Initial Pool
Balance.

          The Agreement permits, with certain exceptions therein provided, the
amendment thereof and the modification of the rights and obligations of the
Depositor, the Master Servicer, the Special Servicer and the Trustee and the
rights of the Certificateholders under the Agreement at any time by the
Depositor, the Master Servicer, the Special Servicer and the Trustee with the
consent of the Holders of Certificates entitled to not less than 51% of the
Voting Rights allocated to all of the Classes materially affected by the
amendment (subject to certain third-party beneficiary consent rights). 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 this Certificate.
The Agreement also permits the amendment thereof, in certain limited
circumstances, including any amendment necessary to maintain the status of any
REMIC Pool as a REMIC, without the consent of the Holders of any of the
Certificates.

          Unless the certificate of authentication hereon has been executed by
the Certificate Registrar, by manual signature, this Certificate shall not be
entitled to any benefit under the Agreement or be valid for any purpose.

          The registered Holder hereof, by its acceptance hereof, agrees that
it will look solely to the Trust Fund (to the extent of its rights therein) for
distributions hereunder.

          This Certificate shall be construed in accordance with the laws of
the State of New York applicable to agreements negotiated, made and to be
performed entirely in said State, and the obligations, rights and remedies of
the Holder hereof shall be determined in accordance with such laws.

                                     A-2-5
<PAGE>

          IN WITNESS WHEREOF, the Trustee has caused this Certificate to be
duly executed.

                        WELLS FARGO BANK MINNESOTA, N.A.
                        as Trustee

                        By:  ____________________________________
                                Authorized Representative

                         CERTIFICATE OF AUTHENTICATION

          This is one of the Class [A-1] [A-2] [A-3] [A-4] [B] [C] [D] [E]
Certificates referred to in the within-mentioned Agreement.

Dated:

                        WELLS FARGO BANK MINNESOTA, N.A.
                        as Certificate Registrar

                        By:  ____________________________________
                                Authorized Representative

                                     A-2-6
<PAGE>

                                   ASSIGNMENT

          FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and
transfer(s) unto_______________________________________________________________
_______________________________________________________________________________
                  (please print or typewrite name and address
                  including postal zip code of assignee)

the beneficial ownership interest in the Trust Fund evidenced by the within
Mortgage Pass-Through Certificate and hereby authorize(s) the registration of
transfer of such interest to assignee on the Certificate Register of the Trust
Fund.

          I (we) further direct the Certificate Registrar to issue a new
Mortgage Pass-Through Certificate of a like Percentage Interest and Class to
the above named assignee and deliver such Mortgage Pass-Through Certificate to
the following address: _________________________________________________________
________________________________________________________________________________

Dated:

                                        _____________________________________
                                        Signature by or on behalf of Assignor

                                        _____________________________________
                                        Signature Guaranteed

                           DISTRIBUTION INSTRUCTIONS

          The Assignee should include the following for purposes of
distribution:

          Distributions shall, if permitted, be made by wire transfer or
otherwise, in immediately available funds, to__________________________________
for the account of ____________________________________________________________.

          Distributions made by check (such check to be made payable to
___________________________) and all applicable statements and notices should
be mailed to___________________________________________________________________.

          This information is provided by______________________________________,
the Assignee named above, or __________________________________________________,
as its agent.

                                     A-2-7
<PAGE>

                                  EXHIBIT A-3

   FORM OF CLASS A-1-A, CLASS F, CLASS G, CLASS H, CLASS J, CLASS K, CLASS L,
         CLASS M, CLASS N, CLASS O, CLASS P AND CLASS MM CERTIFICATES

 CLASS [A-1-A] [F] [G] [H] [J] [K] [L] [M] [N] [O] [P] [MM] COMMERCIAL MORTGAGE
                    PASS-THROUGH CERTIFICATE, SERIES 2003-C4

This is one of a series of commercial mortgage pass-through certificates
(collectively, the "Certificates"), issued in multiple classes (each, a
"Class"), which series of Certificates evidences the entire beneficial
ownership interest in a trust fund (the "Trust Fund") consisting primarily of a
pool of multifamily and commercial mortgage loans (the "Mortgage Loans"), such
pool being formed and sold by

              CREDIT SUISSE FIRST BOSTON MORTGAGE SECURITIES CORP.

Pass-Through Rate: Variable              Class Principal Balance of the
                                         [A-1-A] [F] [G] [H] [J] [K] [L] [M]
                                         [N] [O] [P] [MM] Certificates as of
                                         the Closing Date:
                                         $_________________

Closing Date: September 29, 2003         Initial Certificate Principal
                                         Balance of this Certificate as of
                                         the Closing Date:
First Distribution Date: October         $_________________
17, 2003

Master Servicer:                         Aggregate Stated Principal Balance
KeyCorp Real Estate Capital              of the Mortgage Loans as of the
Markets, Inc.                            Closing Date: ("Initial Pool
                                         Balance"): $1,339,373,694

Special Servicer:
Lennar Partners, Inc.
                                         Trustee:
                                         Wells Fargo Bank Minnesota, N.A.

Certificate No. [A-1-A] [F] [G] [H]      CUSIP No.:  _____________
[J] [K] [L] [M] [N] [O] [P]              Common Code:  _____________
[MM]-___                                 ISIN No.:  _____________

                                     A-3-1
<PAGE>

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION ("DTC"), TO THE TRUSTEE OR ANY
AGENT THEREOF 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 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 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, PLEDGE, 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 5.02 OF THE POOLING AND
SERVICING AGREEMENT REFERRED TO HEREIN.

NO TRANSFER OF THIS CERTIFICATE OR ANY INTEREST HEREIN MAY BE MADE TO (A) ANY
RETIREMENT PLAN OR OTHER EMPLOYEE BENEFIT PLAN OR 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 (B) ANY PERSON WHO IS DIRECTLY OR INDIRECTLY PURCHASING THIS CERTIFICATE OR
SUCH INTEREST HEREIN 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, EXCEPT IN ACCORDANCE WITH THE PROVISIONS OF SECTION 5.02 OF THE
POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.

THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN CREDIT
SUISSE FIRST BOSTON MORTGAGE SECURITIES CORP., WELLS FARGO BANK MINNESOTA,
N.A., KEYCORP REAL ESTATE CAPITAL MARKETS, INC., LENNAR PARTNERS, INC., OR ANY
OF THEIR RESPECTIVE AFFILIATES. NEITHER THIS CERTIFICATE NOR ANY OF THE
UNDERLYING MORTGAGE LOANS IS GUARANTEED BY ANY AGENCY OR INSTRUMENTALITY OF THE
UNITED STATES OR ANY OTHER PERSON.

THIS CERTIFICATE IS SUBORDINATE TO ONE OR MORE CLASSES OF CERTIFICATES OF THE
SAME SERIES AS AND TO THE EXTENT DESCRIBED IN THE POOLING AND SERVICING
AGREEMENT REFERRED TO HEREIN.

                                     A-3-2
<PAGE>

SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE IS A "REGULAR
INTEREST" IN A "REAL ESTATE MORTGAGE INVESTMENT CONDUIT" (A "REMIC") AS THOSE
TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE CODE.

THE OUTSTANDING CERTIFICATE PRINCIPAL BALANCE HEREOF AT ANY TIME MAY BE LESS
THAN THE AMOUNT SHOWN ABOVE.

PRIOR TO THE DATE THAT IS 40 DAYS AFTER THE LATER OF (A) THE COMMENCEMENT OF
THE OFFERING TO PERSONS OTHER THAN DISTRIBUTORS IN RELIANCE ON REGULATION S
UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND (B) THE DATE OF CLOSING OF
THE OFFERING, THIS CERTIFICATE 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.

          This certifies that [CEDE & CO.] is the registered owner of the
Percentage Interest evidenced by this Certificate (obtained by dividing the
principal amount of this Certificate (its "Certificate Principal Balance") as
of the Closing Date by the aggregate principal amount of all the Class [A-1-A]
[F] [G] [H] [J] [K] [L] [M] [N] [O] [P] [MM] Certificates (their "Class
Principal Balance") as of the Closing Date) in that certain beneficial
ownership interest in the Trust Fund evidenced by all the Class [A-1-A] [F] [G]
[H] [J] [K] [L] [M] [N] [O] [P] [MM] Certificates. The Trust Fund was created
and the Certificates were issued pursuant to a Pooling and Servicing Agreement,
dated as of September 11, 2003 (the "Agreement"), among Credit Suisse First
Boston Mortgage Securities Corp., as depositor (the "Depositor", which term
includes any successor entity under the Agreement), KeyCorp Real Estate Capital
Markets, Inc., as master servicer (in such capacity, the "Master Servicer",
which term includes any successor entity under the Agreement), Lennar Partners,
Inc., as special servicer (in such capacity, the "Special Servicer", which term
includes any successor entity under the Agreement), and Wells Fargo Bank
Minnesota, N.A., as trustee (the "Trustee", which term includes any successor
entity under the Agreement), a summary of certain of the pertinent provisions
of which is set forth hereafter. To the extent not defined herein, capitalized
terms used herein have the respective meanings assigned thereto in the
Agreement. This Certificate is issued under and is subject to the terms,
provisions and conditions of the Agreement, to which Agreement the Holder of
this Certificate by virtue of its acceptance hereof assents and by which such
Holder is bound.

          Pursuant to the terms of the Agreement, beginning on the First
Distribution Date specified above, distributions will be made on that date (the
"Distribution Date") each month that is the fourth Business Day following the
Determination Date in such month, 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"), in an
amount equal to the product of the Percentage Interest evidenced by this
Certificate and the amount required to be distributed to all the Holders of the
Class [A-1-A] [F] [G] [H] [J] [K] [L] [M] [N] [O] [P] [MM] Certificates on the
applicable Distribution Date pursuant to the Agreement. All distributions made
under the Agreement on this Certificate will be made by the Trustee by wire
transfer of immediately available funds to the account of the Person entitled
thereto at a bank or other entity having appropriate facilities therefor, if
such Certificateholder shall have provided the Trustee with wiring instructions
no later than the related Record Date (which wiring instructions may be in the
form of a standing order applicable to all

                                     A-3-3
<PAGE>

subsequent distributions), or otherwise by check mailed to the address of such
Certificateholder as it appears in the Certificate Register. Notwithstanding
the foregoing, the final distribution on this Certificate (determined without
regard to any possible future reimbursement of any portion of an Unfunded
Principal Balance Reduction in respect of this Certificate) will be made in
like manner, but only upon presentation and surrender of this Certificate at
the offices of the Certificate Registrar or such other location specified in
the notice to the Holder hereof of such final distribution.

          The Certificates are limited in right of distribution to certain
collections and recoveries respecting the Mortgage Loans, all as more
specifically set forth herein and in the Agreement. As provided in the
Agreement, withdrawals from the Distribution Account, the Collection Account,
the Mayfair Mall Custodial Account and, if established, the REO Account or any
A/B Mortgage Loan Pair Custodial Account may be made from time to time for
purposes other than, and, in certain cases, prior to, distributions to
Certificateholders, such purposes including the reimbursement of advances made,
or certain expenses incurred, with respect to the Mortgage Loans and the
payment of interest on such advances and expenses.

          Any distribution to the Holder of this Certificate in reduction of
the Certificate Principal Balance hereof is binding on such Holder and all
future Holders of this Certificate and any Certificate issued upon the transfer
hereof or in exchange herefor or in lieu hereof whether or not notation of such
distribution is made upon this Certificate.

          This Certificate is issuable in fully registered form only without
coupons. As provided in the Agreement and subject to certain limitations
therein set forth, this Certificate is exchangeable for new Certificates of the
same Class in authorized denominations evidencing the same aggregate Percentage
Interest, as requested by the Holder surrendering the same.

          No transfer, sale, pledge or other disposition of this Certificate or
any interest herein shall be made unless that 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 this Certificate is to be made without registration under the
Securities Act, then (except under limited circumstances specified in the
Agreement) 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 F-1A to the Agreement; or (ii) a
certificate from the Certificateholder desiring to effect such transfer
substantially in the form attached as Exhibit F-1B to the Agreement and a
certificate from such Certificateholder's prospective Transferee substantially
in the form attached either as Exhibit F-2A or as Exhibit F-2B to the
Agreement; or (iii) an Opinion of Counsel satisfactory to the Trustee to the
effect that such transfer may be made without registration under the Securities
Act (which Opinion of Counsel shall not be an expense of the Trust or of the
Depositor, the Master Servicer, the Special Servicer, the Trustee or the
Certificate Registrar in their respective capacities as such), 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.

          If this Certificate constitutes a Rule 144A Global Certificate and a
transfer of any interest in this Certificate is to be made without registration
under the Securities Act, then (except under limited circumstances specified in
the Agreement) the Certificate Owner desiring to effect such transfer shall be

                                     A-3-4
<PAGE>

required to obtain either (i) a certificate from such Certificate Owner's
prospective Transferee substantially in the form attached as Exhibit F-2C to
the Agreement, or (ii) an Opinion of Counsel to the effect that such
prospective Transferee is a Qualified Institutional Buyer and such transfer may
be made without registration under the Securities Act. Except as discussed
below, if this Certificate constitutes a Rule 144A Global Certificate, then
interests herein shall not be transferred to any Person other than a Qualified
Institutional Buyer that takes delivery other than in the form of an interest
in this Rule 144A Global Certificate.

          Notwithstanding the preceding paragraph, if this Certificate
constitutes a Rule 144A Global Certificate, then interests herein may be
transferred (without delivery of any certificate or Opinion of Counsel
described in the preceding paragraph) to any Person who takes delivery in the
form of a beneficial interest in the Regulation S Global Certificate of the
same Class as this Rule 144A Global Certificate upon delivery to the
Certificate Registrar and the Trustee of (x) a certificate from the Certificate
Owner desiring to effect such transfer substantially in the form attached as
Exhibit F-1D to the Agreement and a certificate from such Certificate Owner's
prospective Transferee substantially in the form attached as Exhibit F-2D to
the Agreement and (y) such written orders and instructions as are required
under the applicable procedures of DTC, Clearstream and/or Euroclear to direct
the Trustee to debit the account of a Depository Participant by a denomination
of interests in this Rule 144A Global Certificate, and credit the account of a
Depository Participant by a denomination of interests in such Regulation S
Global Certificate, that is equal to the denomination of beneficial interests
in such Class to be transferred. Upon delivery to the Certificate Registrar of
such certifications and such orders and instructions, the Trustee, subject to
and in accordance with the applicable procedures of DTC, shall reduce the
denomination of this Rule 144A Global Certificate, and increase the
denomination of the related Regulation S Global Certificate, by the
denomination of the beneficial interest in the subject Class specified in such
orders and instructions.

          Except as discussed below, if this Certificate constitutes a
Regulation S Global Certificate, then beneficial interests in this Certificate
shall not be transferred to any Person other than a non-United States
Securities Person that takes delivery in the form of an interest in this
Certificate, and the Certificate Owner desiring to effect such transfer shall
be required to obtain from such Certificate Owner's prospective Transferee a
certification substantially in the form attached as Exhibit F-2D to the
Agreement. On or prior to the Release Date, beneficial interests in any
Regulation S Global Certificate may be held only through Euroclear or
Clearstream. After the Release Date, beneficial interests in any Regulation S
Global Certificate may be held through Euroclear, Clearstream or any other
direct account holder at DTC.

          Notwithstanding the preceding paragraph, if this Certificate
constitutes a Regulation S Global Certificate, then interests in this
Certificate may be transferred (without delivery of any certificate described
in the preceding paragraph) to any Person who takes delivery in the form of a
beneficial interest in the Rule 144A Global Certificate for the same Class as
this Regulation S Global Certificate upon delivery to the Certificate Registrar
and the Trustee of (i) a certificate from the Certificate Owner desiring to
effect such transfer substantially in the form attached as Exhibit F-1C to the
Agreement and a certificate from such Certificate Owner's prospective
Transferee substantially in the form attached as Exhibit F-2C to the Agreement
and (ii) such written orders and instructions as are required under the
applicable procedures of the Depository, Clearstream and/or Euroclear to direct
the Trustee to debit the account of a Depository Participant by a denomination
of interests in this Regulation S Global Certificate, and credit the account of
a Depository Participant by a denomination of interests in

                                     A-3-5
<PAGE>

the related Rule 144A Global Certificate, that is equal to the denomination of
beneficial interests to be transferred. Upon delivery to the Trustee of such
certifications and such orders and instructions, the Trustee, subject to and in
accordance with the applicable procedures of the Depository, shall reduce the
denomination of this Regulation S Global Certificate, and increase the
denomination of the related Rule 144A Global Certificate, by the denomination
of the beneficial interest in the subject Class specified in such orders and
instructions.

          Notwithstanding the foregoing, any interest in a Global Certificate
may be transferred by any Certificate Owner holding such interest to any Person
who takes delivery in the form of a Definitive Certificate of the same Class as
such Global Certificate upon delivery to the Certificate Registrar and the
Trustee of (i) such certifications and/or opinions as are contemplated above
with respect to transfers of this Certificate in definitive form and (ii) such
written orders and instructions as are required under the applicable procedures
of the Depository, Clearstream and/or Euroclear to direct the Trustee to debit
the account of a Depository Participant by a denomination of interests in such
Global Certificate. Upon delivery to the Certificate Registrar of the
certifications and/or opinions contemplated above with respect to transfers of
this Certificate in definitive form, the Trustee, subject to and in accordance
with the applicable procedures of the Depository, shall reduce the denomination
of the subject Global Certificate, and cause a Definitive Certificate of the
same Class as such Global Certificate, and in a denomination equal to the
reduction in the denomination of such Global Certificate, to be executed,
authenticated and delivered in accordance with this Agreement to the applicable
Transferee.

          The Global Certificates shall be deposited with the Trustee as
custodian for DTC and registered in the name of Cede & Co. as nominee of DTC.

          None of the Depositor, the Trustee or the Certificate Registrar is
obligated to register or qualify the Class [A-1-A] [F] [G] [H] [J] [K] [L] [M]
[N] [O] [P] [MM] Certificates under the Securities Act or any other securities
law or to take any action not otherwise required under the Agreement to permit
the transfer of this Certificate or any interest herein without registration or
qualification. Any Certificateholder or Certificate Owner desiring to effect a
transfer of this Certificate or any interest herein shall, and does hereby
agree to, indemnify the Depositor, CSFB LLC, the Trustee, the Master Servicer,
the Special Servicer and the Certificate Registrar against any liability that
may result if the transfer is not so exempt or is not made in accordance with
such federal and state laws or the provisions described in the preceding
paragraphs.

          No transfer of this Certificate or any interest herein shall be made
(A) to any retirement plan or other employee benefit plan or 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 insurance company general accounts,
that is subject to ERISA or Section 4975 of the Code (each, a "Plan"), or (B)
to any Person who is directly or indirectly purchasing this Certificate or any
interest herein on behalf of, as named fiduciary of, as trustee of, or with
assets of a Plan, if the purchase and holding of this Certificate or such
interest herein by the prospective Transferee would result in a violation of
Section 406 or 407 of ERISA or Section 4975 of the Code or would result in the
imposition of an excise tax under Section 4975 of the Code. Except in limited
circumstances, the Certificate Registrar shall refuse to register the transfer
of this Certificate (and, if applicable, any Certificate Owner shall refuse to
transfer an interest in this Certificate), unless it has received from the
prospective Transferee either (i) a certification to the effect that such
prospective Transferee is not a Plan and is not directly or indirectly
purchasing this Certificate on behalf of, as

                                     A-3-6
<PAGE>

named fiduciary of, as trustee of, or with assets of a Plan; or (ii) a
certification to the effect that the purchase and holding of this Certificate
by such prospective Transferee is exempt from the prohibited transaction
provisions of Section 406 and 407 of ERISA and Section 4975 of the Code by
reason of Sections I and III of Prohibited Transaction Class Exemption 95-60;
or (iii) if this Certificate is rated investment grade by at least one of the
Rating Agencies and is being acquired by, on behalf of or with assets of a Plan
in reliance upon Prohibited Transaction Exemption 89-90, a certification to the
effect that such Plan (X) is an accredited investor as defined in Rule
501(a)(1) of Regulation D of the Securities Act, (Y) is not sponsored (within
the meaning of Section 3(16)(B) of ERISA) by the Trustee, the Depositor,
Column, KeyBank, any Exemption-Favored Party, the Master Servicer, the Special
Servicer, any Sub-Servicer or any Borrower with respect to Mortgage Loans
constituting more than 5% of the aggregate unamortized principal of all the
Mortgage Loans determined as of the Closing Date, or by an Affiliate of any
such Person, and (Z) agrees that it will obtain from each of its Transferees a
written representation that such Transferee, if a Plan, satisfies the
requirements of the immediately preceding clauses (iii)(X) and (iii)(Y),
together with a written agreement that such Transferee will obtain from each of
its Transferees that are Plans a similar written representation regarding
satisfaction of the requirements of the immediately preceding clauses (iii)(X)
and (iii)(Y); or (iv) a certification of facts and an Opinion of Counsel which
otherwise establish to the reasonable satisfaction of the Trustee (or, if
applicable, the Certificate Owner effecting the transfer) that such transfer
will not result in a violation of Section 406 or 407 of ERISA or Section 4975
of the Code or result in the imposition of an excise tax under Section 4975 of
the Code.

          If a Person is acquiring this Certificate as a fiduciary or agent for
one or more accounts, such Person shall be required to deliver to the
Certificate Registrar a certification to the effect that, and such other
evidence as may be reasonably required by the Trustee to confirm that, it has
(i) sole investment discretion with respect to each such account and (ii) full
power to make the acknowledgments, representations, warranties, certifications
and/or agreements with respect to each such account described above in this
Certificate.

          As provided in the 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 offices of the Certificate Registrar, duly endorsed by, or
accompanied by a written instrument of transfer in the form satisfactory to the
Certificate Registrar duly executed by, the Holder hereof or his attorney duly
authorized in writing, and thereupon one or more new Certificates of the same
Class in authorized denominations evidencing the same aggregate Percentage
Interest will be issued to the designated transferee or transferees.

          No service charge will be imposed for any registration of transfer or
exchange of this Certificate, but the Trustee or 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 this
Certificate.

          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, and accordingly, this
Certificate shall constitute a Book-Entry Certificate.

                                     A-3-7
<PAGE>

          The Depositor, the Master Servicer, the Special Servicer, the
Trustee, the Certificate Registrar and any agent of the Depositor, the Master
Servicer, the Special Servicer, the Trustee or the Certificate Registrar may
treat the Person in whose name this Certificate is registered as the owner
hereof for all purposes, and none of the Depositor, the Master Servicer, the
Special Servicer, the Trustee, the Certificate Registrar or any such agent
shall be affected by notice to the contrary.

          Subject to certain terms and conditions set forth in the Agreement,
the Trust Fund and the obligations created by the Agreement shall terminate
upon distribution (or provision for distribution) to the Certificateholders of
all amounts held by or on behalf of the Trustee and required to be distributed
to them pursuant to the Agreement following the earlier of (i) the final
payment or other liquidation (or any advance with respect thereto) of the last
Mortgage Loan or REO Property remaining in the Trust Fund, (ii) the purchase by
the Master Servicer, the Special Servicer, or any single Controlling Class
Certificateholder or group of Controlling Class Certificateholders with a
majority interest in the Controlling Class, at a price determined as provided
in the Agreement, of all the Mortgage Loans and each REO Property remaining in
the Trust Fund. The Agreement permits, but does not require, the Master
Servicer, the Special Servicer, or any single Controlling Class
Certificateholder or group of Controlling Class Certificateholders with a
majority interest in the Controlling Class to purchase from the Trust Fund all
the Mortgage Loans and each REO Property remaining therein. The exercise of
such right may effect early retirement of the Certificates; however, such right
to purchase is subject to the aggregate Stated Principal Balance of the
Mortgage Pool at the time of purchase being less than 1.0% of the Initial Pool
Balance.

          The Agreement permits, with certain exceptions therein provided, the
amendment thereof and the modification of the rights and obligations of the
Depositor, the Master Servicer, the Special Servicer, the Trustee and the
rights of the Certificateholders under the Agreement at any time by the
Depositor, the Master Servicer, the Special Servicer and the Trustee with the
consent of the Holders of Certificates entitled to not less than 51% of the
Voting Rights allocated to all of the Classes materially affected by the
amendment (subject to certain third-party beneficiary consent rights). 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 this Certificate.
The Agreement also permits the amendment thereof, in certain limited
circumstances, including any amendment necessary to maintain the status of any
REMIC Pool as a REMIC, without the consent of the Holders of any of the
Certificates.

          Unless the certificate of authentication hereon has been executed by
the Certificate Registrar, by manual signature, this Certificate shall not be
entitled to any benefit under the Agreement or be valid for any purpose.

          The registered Holder hereof, by its acceptance hereof, agrees that
it will look solely to the Trust Fund (to the extent of its rights therein) for
distributions hereunder.

          This Certificate shall be construed in accordance with the laws of
the State of New York applicable to agreements negotiated, made and to be
performed entirely in said State, and the obligations, rights and remedies of
the Holder hereof shall be determined in accordance with such laws.

                                     A-3-8
<PAGE>

          IN WITNESS WHEREOF, the Trustee has caused this Certificate to be
duly executed.

                        WELLS FARGO BANK MINNESOTA, N.A.
                        as Trustee

                        By:  ______________________________________________
                              Authorized Representative

                         CERTIFICATE OF AUTHENTICATION

          This is one of the Class [A-1-A] [F] [G] [H] [J] [K] [L] [M] [N] [O]
[P] [MM] Certificates referred to in the within-mentioned Agreement.

Dated:

                        WELLS FARGO BANK MINNESOTA, N.A.
                        as Certificate Registrar

                        By:  ______________________________________________
                             Authorized Representative

                                     A-3-9
<PAGE>

                                   ASSIGNMENT

          FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and
transfer(s) unto_______________________________________________________________
_______________________________________________________________________________
                 (please print or typewrite name and address
                 including postal zip code of assignee)

the beneficial ownership interest in the Trust Fund evidenced by the within
Mortgage Pass-Through Certificate and hereby authorize(s) the registration of
transfer of such interest to assignee on the Certificate Register of the Trust
Fund.

          I (we) further direct the Certificate Registrar to issue a new
Mortgage Pass-Through Certificate of a like Percentage Interest and Class to
the above named assignee and deliver such Mortgage Pass-Through Certificate to
the following address: ________________________________________________________
_______________________________________________________________________________

Dated:

                             __________________________________________________
                             Signature by or on behalf of Assignor

                             __________________________________________________
                             Signature Guaranteed

                           DISTRIBUTION INSTRUCTIONS

          The Assignee should include the following for purposes of
distribution:

          Distributions shall, if permitted, be made by wire transfer or
otherwise, in immediately available funds, to__________________________________
for the account of_____________________________________________________________.

          Distributions made by check (such check to be made payable to
___________________________) and all applicable statements and notices should
be mailed to___________________________________________________________________.

          This information is provided by______________________________________,
the Assignee named above, or___________________________________________________,
as its agent.

                                    A-3-10

<PAGE>
                                  EXHIBIT A-4

                          FORM OF CLASS V CERTIFICATES

              CLASS V COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATE
                                 SERIES 2003-C4

This is one of a series of commercial mortgage pass-through certificates
(collectively, the "Certificates"), issued in multiple classes (each, a
"Class"), which series of Certificates evidences the entire beneficial
ownership interest in a trust fund (the "Trust Fund") consisting primarily of a
pool of multifamily and commercial mortgage loans (the "Mortgage Loans"), such
pool being formed and sold by

              CREDIT SUISSE FIRST BOSTON MORTGAGE SECURITIES CORP.

Closing Date: September 29, 2003          Percentage Interest evidenced by
                                          this Class V Certificate: ______%
First Distribution Date: October
17, 2003                                  Aggregate Stated Principal Balance
                                          of the Mortgage Loans as of the
Master Servicer:                          Closing Date ("Initial Pool
KeyCorp Real Estate Capital               Balance"): $1,339,373,694
Markets, Inc.

                                          Trustee: Wells Fargo
Special Servicer:                         Bank Minnesota, N.A.
Lennar Partners, Inc.

Certificate No. V-___                     CUSIP No.: ______________________

                                     A-4-1
<PAGE>

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, PLEDGE, 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 5.02 OF THE POOLING AND
SERVICING AGREEMENT REFERRED TO HEREIN.

NO TRANSFER OF THIS CERTIFICATE OR ANY INTEREST HEREIN MAY BE MADE TO (A) ANY
RETIREMENT PLAN OR OTHER EMPLOYEE BENEFIT PLAN OR 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 (B) ANY PERSON WHO IS DIRECTLY OR INDIRECTLY PURCHASING THIS CERTIFICATE OR
SUCH INTEREST HEREIN 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, EXCEPT IN ACCORDANCE WITH THE PROVISIONS OF SECTION 5.02 OF THE
POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.

THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN CREDIT
SUISSE FIRST BOSTON MORTGAGE SECURITIES CORP., WELLS FARGO BANK MINNESOTA,
N.A., KEYCORP REAL ESTATE CAPITAL MARKETS, INC., LENNAR PARTNERS, INC., OR ANY
OF THEIR RESPECTIVE AFFILIATES. NEITHER THIS CERTIFICATE NOR ANY OF THE
UNDERLYING MORTGAGE LOANS IS GUARANTEED BY ANY AGENCY OR INSTRUMENTALITY OF THE
UNITED STATES OR ANY OTHER PERSON.

THIS CERTIFICATE IS ENTITLED ONLY TO CERTAIN ADDITIONAL INTEREST (IF ANY)
RECEIVED IN RESPECT OF THE ARD LOANS, SUBJECT TO THE POOLING AND SERVICING
AGREEMENT REFERRED TO HEREIN.

          This certifies that __________________ is the registered owner of the
Percentage Interest evidenced by this Certificate (as specified above) in that
certain beneficial ownership interest in the Trust Fund evidenced by all the
Class V Certificates. The Trust Fund was created and the Certificates were
issued pursuant to a Pooling and Servicing Agreement, dated as of September 11,
2003 (the "Agreement"), among Credit Suisse First Boston Mortgage Securities
Corp. as depositor (the "Depositor", which term includes any successor entity
under the Agreement), KeyCorp Real Estate Capital Markets, Inc., as master
servicer (in such capacity, the "Master Servicer", which term includes any
successor entity under the Agreement), Lennar Partners, Inc., as special
servicer (in such capacity, the "Special Servicer", which term includes any
successor entity under the Agreement), and Wells Fargo Bank Minnesota, N.A., as
trustee (the "Trustee", which term includes any successor entity under the
Agreement), a summary of certain of the pertinent provisions of which is set
forth hereafter. To the extent not defined herein, capitalized terms used
herein have the respective meanings assigned thereto in the Agreement. This
Certificate is issued under and is subject to the terms, provisions and
conditions of

                                     A-4-2
<PAGE>

the Agreement, to which Agreement the Holder of this Certificate by virtue of
its acceptance hereof assents and by which such Holder is bound.

          Pursuant to the terms of the Agreement, beginning on the First
Distribution Date specified above, distributions will be made on that date (the
"Distribution Date") each month that is the fourth Business Day following the
Determination Date in such month, 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"), in an
amount equal to the product of the Percentage Interest evidenced by this
Certificate and the amount required to be distributed to all the Holders of the
Class V Certificates on the applicable Distribution Date pursuant to the
Agreement. All distributions made under the Agreement on this Certificate will
be made by the Trustee by wire transfer of immediately available funds to the
account of the Person entitled thereto at a bank or other entity having
appropriate facilities therefor, if such Certificateholder shall have provided
the Trustee with wiring instructions no later than the related Record Date
(which wiring instructions may be in the form of a standing order applicable to
all subsequent distributions), or otherwise by check mailed to the address of
such Certificateholder as it appears in the Certificate Register.
Notwithstanding the foregoing, the final distribution on this Certificate will
be made in like manner, but only upon presentation and surrender of this
Certificate at the offices of the Certificate Registrar or such other location
specified in the notice to the Holder hereof of such final distribution.

          The Certificates are limited in right of distribution to certain
collections and recoveries respecting the Mortgage Loans, all as more
specifically set forth herein and in the Agreement. As provided in the
Agreement, withdrawals from the Distribution Account, the Collection Account,
the Mayfair Mall Custodial Account and, if established, the REO Account or any
A/B Mortgage Loan Pair Custodial Account may be made from time to time for
purposes other than, and, in certain cases, prior to, distributions to
Certificateholders, such purposes including the reimbursement of advances made,
or certain expenses incurred, with respect to the Mortgage Loans and the
payment of interest on such advances and expenses.

          This Certificate is issuable in fully registered form only without
coupons. As provided in the Agreement and subject to certain limitations
therein set forth, this Certificate is exchangeable for new Certificates of the
same Class in authorized denominations evidencing the same aggregate Percentage
Interest, as requested by the Holder surrendering the same.

          No transfer, sale, pledge or other disposition of this Certificate or
any interest herein shall be made unless that 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 this Certificate is to be made without registration under the
Securities Act, then (except under the limited circumstances specified in the
Agreement) 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 F-1A to the Agreement; or (ii) a
certificate from the Certificateholder desiring to effect such transfer
substantially in the form attached as Exhibit F-1B to the Agreement and a
certificate from such Certificateholder's prospective Transferee substantially
in the form attached either as Exhibit F-2A or as Exhibit F-2B to the
Agreement; or (iii) an Opinion of Counsel satisfactory to the Trustee to the
effect that such transfer may be made without registration under the Securities
Act (which Opinion of Counsel shall not be an

                                     A-4-3
<PAGE>

expense of the Trust or of the Depositor, the Master Servicer, the Special
Servicer, the Trustee or the Certificate Registrar in their respective
capacities as such), 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. Any Certificateholder desiring to effect a
transfer, sale, pledge or other disposition of this Certificate or any interest
herein shall, and does hereby agree to, indemnify the Depositor, Credit Suisse
First Boston LLC, the Trustee, the Master Servicer, the Special Servicer, and
the Certificate Registrar against any liability that may result if such
transfer, sale, pledge or other disposition is not exempt from the registration
and/or qualification requirements of the Securities Act and any applicable
state securities laws or is not made in accordance with such federal and state
laws.

          No transfer of this Certificate or any interest herein shall be made
(A) to any retirement plan or other employee benefit plan or 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 insurance company general accounts,
that is subject to ERISA or Section 4975 of the Code (each, a "Plan"), or (B)
to any Person who is directly or indirectly purchasing this Certificate or any
interest herein on behalf of, as named fiduciary of, as trustee of, or with
assets of a Plan, if the purchase and holding of this Certificate or such
interest herein by the prospective Transferee would result in a violation of
Section 406 or 407 of ERISA or Section 4975 of the Code or would result in the
imposition of an excise tax under Section 4975 of the Code. Except in limited
circumstances, the Certificate Registrar shall refuse to register the transfer
of this Certificate unless it has received from the prospective Transferee
either (i) a certification to the effect that such prospective Transferee is
not a Plan and is not directly or indirectly purchasing this Certificate on
behalf of, as named fiduciary of, as trustee of, or with assets of a Plan; or
(ii) a certification of facts and an Opinion of Counsel which otherwise
establish to the reasonable satisfaction of the Trustee that such transfer will
not result in a violation of Section 406 or 407 of ERISA or Section 4975 of the
Code or result in the imposition of an excise tax under Section 4975 of the
Code.

          If a Person is acquiring this Certificate as a fiduciary or agent for
one or more accounts, such Person shall be required to deliver to the
Certificate Registrar a certification to the effect that, and such other
evidence as may be reasonably required by the Trustee to confirm that, it has
(i) sole investment discretion with respect to each such account and (ii) full
power to make the acknowledgments, representations, warranties, certifications
and/or agreements with respect to each such account described above in this
Certificate.

          As provided in the 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 offices of the Certificate Registrar, duly endorsed by, or
accompanied by a written instrument of transfer in the form satisfactory to the
Certificate Registrar duly executed by, the Holder hereof or his attorney duly
authorized in writing, and thereupon one or more new Certificates of the same
Class in authorized denominations evidencing the same aggregate Percentage
Interest will be issued to the designated transferee or transferees.

          No service charge will be imposed for any registration of transfer or
exchange of this Certificate, but the Trustee or 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 this
Certificate.

                                     A-4-4
<PAGE>

          The Depositor, the Master Servicer, the Special Servicer, the
Trustee, the Certificate Registrar and any agent of the Depositor, the Master
Servicer, the Special Servicer, the Trustee or the Certificate Registrar may
treat the Person in whose name this Certificate is registered as the owner
hereof for all purposes, and none of the Depositor, the Master Servicer, the
Special Servicer, the Trustee, the Certificate Registrar or any such agent
shall be affected by notice to the contrary.

          Subject to certain terms and conditions set forth in the Agreement,
the Trust Fund and the obligations created by the Agreement shall terminate
upon distribution (or provision for distribution) to the Certificateholders of
all amounts held by or on behalf of the Trustee and required to be distributed
to them pursuant to the Agreement following the earlier of (i) the final
payment or other liquidation (or any advance with respect thereto) of the last
Mortgage Loan or REO Property remaining in the Trust Fund, (ii) the purchase by
the Master Servicer, the Special Servicer, or any single Controlling Class
Certificateholder or group of Controlling Class Certificateholders with a
majority interest in the Controlling Class, at a price determined as provided
in the Agreement, of all the Certificates for all the Mortgage Loans and each
REO Property remaining in the Trust Fund. The Agreement permits, but does not
require, the Master Servicer, the Special Servicer, or any single Controlling
Class Certificateholder or group of Controlling Class Certificateholders with a
majority interest in the Controlling Class to purchase from the Trust Fund all
the Mortgage Loans and each REO Property remaining therein. The exercise of
such right may effect early retirement of the Certificates; however, such right
to purchase is subject to the aggregate Stated Principal Balance of the
Mortgage Pool at the time of purchase being less than 1.0% of the Initial Pool
Balance.

          The Agreement permits, with certain exceptions therein provided, the
amendment thereof and the modification of the rights and obligations of the
Depositor, the Master Servicer, the Special Servicer and the Trustee and the
rights of the Certificateholders under the Agreement at any time by the
Depositor, the Master Servicer, the Special Servicer and the Trustee with the
consent of the Holders of Certificates entitled to not less than 51% of the
Voting Rights allocated to all of the Classes materially affected by the
amendment (subject to certain third-party beneficiary consent rights). 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 this Certificate.
The Agreement also permits the amendment thereof, in certain limited
circumstances, including any amendment necessary to maintain the status of any
REMIC Pool as a REMIC, without the consent of the Holders of any of the
Certificates.

          Unless the certificate of authentication hereon has been executed by
the Certificate Registrar, by manual signature, this Certificate shall not be
entitled to any benefit under the Agreement or be valid for any purpose.

          The registered Holder hereof, by its acceptance hereof, agrees that
it will look solely to the Trust Fund (to the extent of its rights therein) for
distributions hereunder.

          This Certificate shall be construed in accordance with the laws of
the State of New York applicable to agreements negotiated, made and to be
performed entirely in said State, and the obligations, rights and remedies of
the Holder hereof shall be determined in accordance with such laws.

                                     A-4-5
<PAGE>

          IN WITNESS WHEREOF, the Trustee has caused this Certificate to be
duly executed.

                        WELLS FARGO BANK MINNESOTA, N.A.
                        as Trustee

                        By: _______________________________________________
                        Authorized Representative

                         CERTIFICATE OF AUTHENTICATION

          This is one of the Class V Certificates referred to in the
within-mentioned Agreement.

Dated:

                        WELLS FARGO BANK MINNESOTA, N.A.
                        as Certificate Registrar

                        By:________________________________________________
                        Authorized Representative

                                     A-4-6
<PAGE>

                                   ASSIGNMENT

          FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and
transfer(s) unto_______________________________________________________________
_______________________________________________________________________________
            (please print or typewrite name and address
            including postal zip code of assignee)

the beneficial ownership interest in the Trust Fund evidenced by the within
Mortgage Pass-Through Certificate and hereby authorize(s) the registration of
transfer of such interest to assignee on the Certificate Register of the Trust
Fund.

          I (we) further direct the Certificate Registrar to issue a new
Mortgage Pass-Through Certificate of a like Percentage Interest and Class to
the above named assignee and deliver such Mortgage Pass-Through Certificate to
the following address: _________________________________________________________
________________________________________________________________________________

Dated:

                           ____________________________________________________
                           Signature by or on behalf of Assignor

                           ____________________________________________________
                           Signature Guaranteed

                           DISTRIBUTION INSTRUCTIONS

          The Assignee should include the following for purposes of
distribution:

          Distributions shall, if permitted, be made by wire transfer or
otherwise, in immediately available funds, to__________________________________
for the account of_____________________________________________________________.

          Distributions made by check (such check to be made payable to
___________________________) and all applicable statements and notices should
be mailed to___________________________________________________________________.

          This information is provided by______________________________________,
the Assignee named above, or___________________________________________________,
as its agent.

                                     A-4-7
<PAGE>

                                  EXHIBIT A-5

                          FORM OF CLASS R CERTIFICATES

             CLASS R COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATE,
                                 SERIES 2003-C4

This is one of a series of commercial mortgage pass-through certificates
(collectively, the "Certificates"), issued in multiple classes (each, a
"Class"), which series of Certificates evidences the entire beneficial
ownership interest in a trust fund (the "Trust Fund") consisting primarily of a
pool of multifamily and commercial mortgage loans (the "Mortgage Loans"), such
pool being formed and sold by

              CREDIT SUISSE FIRST BOSTON MORTGAGE SECURITIES CORP.

Closing Date: September 29, 2003            Percentage Interest evidenced by
                                            this Class R Certificate: _____%
First Distribution Date: October
17, 2003

Master Servicer:                            Aggregate Stated Principal Balance
KeyCorp Real Estate Capital                 of the Mortgage Loans as of the
Markets, Inc.                               Closing Date ("Initial Pool
                                            Balance"):  $1,339,373,694

Special Servicer:                           Trustee:
Lennar Partners, Inc.                       Wells Fargo Bank Minnesota, N.A.

Certificate No. R-___
                                            CUSIP No.:  __________________

                                     A-5-1
<PAGE>

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, PLEDGE, 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 5.02 OF THE POOLING AND
SERVICING AGREEMENT REFERRED TO HEREIN.

NO TRANSFER OF THIS CERTIFICATE OR ANY INTEREST HEREIN MAY BE MADE TO (A) ANY
RETIREMENT PLAN OR OTHER EMPLOYEE BENEFIT PLAN OR 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 (B) ANY PERSON WHO IS DIRECTLY OR INDIRECTLY PURCHASING THIS CERTIFICATE OR
SUCH INTEREST HEREIN 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, EXCEPT IN ACCORDANCE WITH THE PROVISIONS OF SECTION 5.02 OF THE
POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.

THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN CREDIT
SUISSE FIRST BOSTON MORTGAGE SECURITIES CORP., WELLS FARGO BANK MINNESOTA,
N.A., KEYCORP REAL ESTATE CAPITAL MARKETS, INC., LENNAR PARTNERS, INC., OR ANY
OF THEIR RESPECTIVE AFFILIATES. NEITHER THIS CERTIFICATE NOR ANY OF THE
UNDERLYING MORTGAGE LOANS IS GUARANTEED BY ANY AGENCY OR INSTRUMENTALITY OF THE
UNITED STATES OR ANY OTHER PERSON.

THIS CERTIFICATE IS SUBORDINATE TO ONE OR MORE CLASSES OF CERTIFICATES OF THE
SAME SERIES AS AND TO THE EXTENT DESCRIBED IN THE POOLING AND SERVICING
AGREEMENT REFERRED TO HEREIN.

SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE EVIDENCES
OWNERSHIP OF THE SOLE "RESIDUAL INTEREST" IN EACH OF MULTIPLE "REAL ESTATE
MORTGAGE INVESTMENT CONDUITS" (EACH, A "REMIC") AS THOSE TERMS ARE DEFINED,
RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE CODE. CONSEQUENTLY, TRANSFER OF
THIS CERTIFICATE IS ALSO SUBJECT TO THE ADDITIONAL TAX RELATED TRANSFER
RESTRICTIONS DESCRIBED HEREIN. IF ANY PERSON BECOMES THE REGISTERED HOLDER OF
THIS CERTIFICATE IN VIOLATION OF SUCH TRANSFER RESTRICTIONS, 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 OR
UNDER THE POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN, INCLUDING, BUT
NOT LIMITED TO, THE RECEIPT OF DISTRIBUTIONS, IF ANY, ON THIS CERTIFICATE.

                                     A-5-2
<PAGE>

          This certifies that __________________ is the registered owner of the
Percentage Interest evidenced by this Certificate (as specified above) in that
certain beneficial ownership interest in the Trust Fund evidenced by all the
Class R Certificates. The Trust Fund was created and the Certificates were
issued pursuant to a Pooling and Servicing Agreement, dated as of September 11,
2003 (the "Agreement"), among Credit Suisse First Boston Mortgage Securities
Corp., as depositor (the "Depositor", which term includes any successor entity
under the Agreement), KeyCorp Real Estate Capital Markets, Inc., as master
servicer (in such capacity, the "Master Servicer", which term includes any
successor entity under the Agreement), Lennar Partners, Inc., as special
servicer (in such capacity, the "Special Servicer", which term includes any
successor entity under the Agreement), and Wells Fargo Bank Minnesota, N.A., as
trustee (the "Trustee", which term includes any successor entity under the
Agreement), a summary of certain of the pertinent provisions of which is set
forth hereafter. To the extent not defined herein, capitalized terms used
herein have the respective meanings assigned thereto in the Agreement. This
Certificate is issued under and is subject to the terms, provisions and
conditions of the Agreement, to which Agreement the Holder of this Certificate
by virtue of its acceptance hereof assents and by which such Holder is bound.

          Pursuant to the terms of the Agreement, beginning on the First
Distribution Date specified above, distributions will be made on that date (the
"Distribution Date") each month that is the fourth Business Day following the
Determination Date in such month, 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"), in an
amount equal to the product of the Percentage Interest evidenced by this
Certificate and the amount required to be distributed to all the Holders of the
Class R Certificates on the applicable Distribution Date pursuant to the
Agreement. All distributions made under the Agreement on this Certificate will
be made by the Trustee by wire transfer of immediately available funds to the
account of the Person entitled thereto at a bank or other entity having
appropriate facilities therefor, if such Certificateholder shall have provided
the Trustee with wiring instructions no later than the related Record Date
(which wiring instructions may be in the form of a standing order applicable to
all subsequent distributions), or otherwise by check mailed to the address of
such Certificateholder as it appears in the Certificate Register.
Notwithstanding the foregoing, the final distribution on this Certificate will
be made in like manner, but only upon presentation and surrender of this
Certificate at the offices of the Certificate Registrar or such other location
specified in the notice to the Holder hereof of such final distribution.

          The Certificates are limited in right of distribution to certain
collections and recoveries respecting the Mortgage Loans, all as more
specifically set forth herein and in the Agreement. As provided in the
Agreement, withdrawals from the Distribution Account, the Collection Account,
the Mayfair Mall Custodial Account and, if established, the REO Account or any
A/B Mortgage Loan Pair Custodial Account may be made from time to time for
purposes other than, and, in certain cases, prior to, distributions to
Certificateholders, such purposes including the reimbursement of advances made,
or certain expenses incurred, with respect to the Mortgage Loans and the
payment of interest on such advances and expenses.

          This Certificate is issuable in fully registered form only without
coupons. As provided in the Agreement and subject to certain limitations
therein set forth, this Certificate is exchangeable for new Certificates of the
same Class in authorized denominations evidencing the same aggregate Percentage
Interest, as requested by the Holder surrendering the same.

                                     A-5-3
<PAGE>

          No transfer, sale, pledge or other disposition of this Certificate or
any interest herein shall be made unless that 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 this Certificate is to be made without registration under the
Securities Act, then (except under the limited circumstances specified in the
Agreement) 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 F-1A to the Agreement; or (ii) a
certificate from the Certificateholder desiring to effect such transfer
substantially in the form attached as Exhibit F-1B to the Agreement and a
certificate from such Certificateholder's prospective Transferee substantially
in the form attached either as Exhibit F-2A or as Exhibit F-2B to the
Agreement; or (iii) an Opinion of Counsel satisfactory to the Trustee to the
effect that such transfer may be made without registration under the Securities
Act (which Opinion of Counsel shall not be an expense of the Trust or of the
Depositor, the Master Servicer, the Special Servicer, the Trustee or the
Certificate Registrar in their respective capacities as such), 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. Any Certificateholder desiring to effect a transfer, sale, pledge or
other disposition of this Certificate or any interest herein shall, and does
hereby agree to, indemnify the Depositor, Credit Suisse First Boston LLC, the
Trustee, the Master Servicer, the Special Servicer, and the Certificate
Registrar against any liability that may result if such transfer, sale, pledge
or other disposition is not exempt from the registration and/or qualification
requirements of the Securities Act and any applicable state securities laws or
is not made in accordance with such federal and state laws.

          No transfer of this Certificate or any interest herein shall be made
(A) to any retirement plan or other employee benefit plan or 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 insurance company general accounts,
that is subject to ERISA or Section 4975 of the Code (each, a "Plan"), or (B)
to any Person who is directly or indirectly purchasing this Certificate or any
interest herein on behalf of, as named fiduciary of, as trustee of, or with
assets of a Plan, if the purchase and holding of this Certificate or such
interest herein by the prospective Transferee would result in a violation of
Section 406 or 407 of ERISA or Section 4975 of the Code or would result in the
imposition of an excise tax under Section 4975 of the Code. Except in limited
circumstances, the Certificate Registrar shall refuse to register the transfer
of this Certificate unless it has received from the prospective Transferee
either: (i) a certification to the effect that such prospective Transferee is
not a Plan and is not directly or indirectly purchasing this Certificate on
behalf of, as named fiduciary of, as trustee of, or with assets of a Plan; or
(ii) a certification of facts and an Opinion of Counsel which otherwise
establish to the reasonable satisfaction of the Trustee that such transfer will
not result in a violation of Section 406 or 407 of ERISA or Section 4975 of the
Code or result in the imposition of an excise tax under Section 4975 of the
Code.

          Each Person who has or who acquires any Ownership Interest in this
Certificate shall be deemed by its acceptance or acquisition of such Ownership
Interest to have agreed to be bound by the provisions of Section 5.02(d) of the
Agreement and, if any purported Transferee shall become a Holder of this
Certificate in violation of the provisions of such Section 5.02(d), to have
irrevocably authorized the Trustee (i) to deliver payments to a Person other
than such Person and (ii) to negotiate the terms of any mandatory disposition,
to execute all instruments of Transfer and to do all other things necessary in

                                     A-5-4
<PAGE>

connection with any such disposition. Each Person holding or acquiring any
Ownership Interest in this Certificate must be a Permitted Transferee and shall
promptly notify the Trustee of any change or impending change in its status as
a Permitted Transferee. In connection with any proposed Transfer of any
Ownership Interest in this Certificate, the Certificate Registrar shall require
delivery to it, and shall not register the Transfer of this Certificate until
its receipt of, an affidavit and agreement substantially in the form attached
as Exhibit H-1 to the Agreement (a "Transfer Affidavit and Agreement") from the
proposed Transferee, representing and warranting, among other things, that such
Transferee is a Permitted Transferee, that it is not acquiring its Ownership
Interest in this Certificate 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 this Certificate, it will endeavor to remain a Permitted
Transferee, and that it has reviewed the provisions of Section 5.02(d) of the
Agreement and agrees to be bound by them. Notwithstanding the delivery of a
Transfer Affidavit and Agreement by a proposed Transferee, if a Responsible
Officer of either the Certificate Registrar or Trustee has actual knowledge
that the proposed Transferee is not a Permitted Transferee, no Transfer of an
Ownership Interest in this Certificate to such proposed Transferee shall be
effected. In connection therewith, the Certificate Registrar shall not register
the transfer of an Ownership Interest in this Certificate to any entity
classified as a partnership under the Code unless at the time of transfer, all
of its beneficial owners are United States Persons.

          Each Person holding or acquiring any Ownership Interest in this
Certificate shall agree (x) to require a Transfer Affidavit and Agreement from
any other Person to whom such Person attempts to transfer its Ownership
Interest herein and (y) not to transfer its Ownership Interest herein unless it
provides to the Certificate Registrar a certificate substantially in the form
attached as Exhibit H-2 to the Agreement stating that, among other things, it
has no actual knowledge that such other Person is not a Permitted Transferee.
Each Person holding or acquiring an Ownership Interest in this Certificate, by
purchasing such Ownership Interest herein, agrees to give the Trustee written
notice that it is a "pass-through interest holder" within the meaning of
temporary Treasury regulation Section 1.67-3T(a)(2)(i)(A) immediately upon
acquiring such Ownership Interest, if it is, or is holding such Ownership
Interest on behalf of, a "pass-through interest holder".

          The provisions of Section 5.02(d) of the Agreement may be modified,
added to or eliminated, provided that there shall have been delivered to the
Trustee the following: (a) written confirmation from each Rating Agency to the
effect that the modification of, addition to or elimination of such provisions
will not result in an Adverse Rating Event with respect to any Class of Rated
Certificates; and (b) an Opinion of Counsel, in form and substance satisfactory
to the Trustee, to the effect that such modification of, addition to or
elimination of such provisions will not cause any REMIC Pool to cease to
qualify as a REMIC or be subject to an entity-level tax caused by the Transfer
of a Class R Certificate to a Person that is not a Permitted Transferee, or
cause a Person other than the prospective Transferee to be subject to a
REMIC-related tax caused by the Transfer of a Class R Certificate to a Person
that is not a Permitted Transferee.

          A "Permitted Transferee" is any Transferee other than a Disqualified
Organization, a Non-United States Tax Person or a foreign permanent
establishment or fixed base (each within the meaning of the applicable income
tax treaty) of a United States Tax Person (as defined below). In addition, if
such Transferee is classified as a partnership under the Code, such Transferee
can only be a Permitted Transferee if, among other things, all of its
beneficial owners are United States Tax Persons.

                                     A-5-5
<PAGE>

          A "Disqualified Organization" is any of (i) the United States or a
possession thereof, 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
Freddie Mac, a majority of its board of directors is not selected by such
governmental unit), (ii) a foreign government, international organization, or
any agency or instrumentality of any of the foregoing, (iii) any 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), (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 Class R Certificate by such Person may cause the
Trust 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 Class R 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.

          A "Non-United States Tax Person" is any Person other than a United
States Tax Person. A "United States Tax Person" is a citizen or resident of the
United States, a corporation, partnership or other entity created or organized
in, or under the laws of, the United States or any political subdivision
thereof, or an estate 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, or a trust if a court within the United States is able to
exercise primary supervision over the administration of the trust and one or
more United States Tax Persons have the authority to control all substantial
decisions of the trust, all within the meaning of Section 7701(a)(30) of the
Code.

          If a Person is acquiring this Certificate as a fiduciary or agent for
one or more accounts, such Person shall be required to deliver to the
Certificate Registrar a certification to the effect that, and such other
evidence as may be reasonably required by the Trustee to confirm that, it has
(i) sole investment discretion with respect to each such account and (ii) full
power to make the acknowledgments, representations, warranties, certifications
and/or agreements with respect to each such account described above in this
Certificate.

          As provided in the 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 offices of the Certificate Registrar, duly endorsed by, or
accompanied by a written instrument of transfer in the form satisfactory to the
Certificate Registrar duly executed by, the Holder hereof or his attorney duly
authorized in writing, and thereupon one or more new Certificates of the same
Class in authorized denominations evidencing the same aggregate Percentage
Interest will be issued to the designated transferee or transferees.

          No service charge will be imposed for any registration of transfer or
exchange of this Certificate, but the Trustee or 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 this
Certificate.

                                     A-5-6
<PAGE>

          The Depositor, the Master Servicer, the Special Servicer, the
Trustee, the Certificate Registrar and any agent of the Depositor, the Master
Servicer, the Special Servicer, the Trustee, or the Certificate Registrar may
treat the Person in whose name this Certificate is registered as the owner
hereof for all purposes, and none of the Depositor, the Master Servicer, the
Special Servicer, the Trustee, the Certificate Registrar or any such agent
shall be affected by notice to the contrary.

          Subject to certain terms and conditions set forth in the Agreement,
the Trust Fund and the obligations created by the Agreement shall terminate
upon distribution (or provision for distribution) to the Certificateholders of
all amounts held by or on behalf of the Trustee and required to be distributed
to them pursuant to the Agreement following the earlier of (i) the final
payment or other liquidation (or any advance with respect thereto) of the last
Mortgage Loan or REO Property remaining in the Trust Fund, (ii) the purchase by
the Master Servicer, the Special Servicer, or any single Controlling Class
Certificateholder or group of Controlling Class Certificateholders with a
majority interest in the Controlling Class, at a price determined as provided
in the Agreement, of all the Mortgage Loans and each REO Property remaining in
the Trust Fund. The Agreement permits, but does not require, the Master
Servicer, the Special Servicer, or any single Controlling Class
Certificateholder or group of Controlling Class Certificateholders with a
majority interest in the Controlling Class to purchase from the Trust Fund all
the Mortgage Loans and each REO Property remaining therein. The exercise of
such right will effect early retirement of the Certificates; however, such
right to purchase is subject to the aggregate Stated Principal Balance of the
Mortgage Pool at the time of purchase being less than 1.0% of the Initial Pool
Balance.

          The Agreement permits, with certain exceptions therein provided, the
amendment thereof and the modification of the rights and obligations of the
Depositor, the Master Servicer, the Special Servicer and the Trustee and the
rights of the Certificateholders under the Agreement at any time by the
Depositor, the Master Servicer, the Special Servicer and the Trustee with the
consent of the Holders of Certificates entitled to not less than 51% of the
Voting Rights allocated to all of the Classes materially affected by the
amendment (subject to certain third-party beneficiary consent rights). 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 this Certificate.
The Agreement also permits the amendment thereof, in certain limited
circumstances, including any amendment necessary to maintain the status of any
REMIC Pool as a REMIC, without the consent of the Holders of any of the
Certificates.

          Unless the certificate of authentication hereon has been executed by
the Certificate Registrar, by manual signature, this Certificate shall not be
entitled to any benefit under the Agreement or be valid for any purpose.

          The registered Holder hereof, by its acceptance hereof, agrees that
it will look solely to the Trust Fund (to the extent of its rights therein) for
distributions hereunder.

          This Certificate shall be construed in accordance with the laws of
the State of New York applicable to agreements negotiated, made and to be
performed entirely in said State, and the obligations, rights and remedies of
the Holder hereof shall be determined in accordance with such laws.

                                     A-5-7
<PAGE>

          IN WITNESS WHEREOF, the Trustee has caused this Certificate to be
duly executed.

                        WELLS FARGO BANK MINNESOTA, N.A.
                        as Trustee

                        By: _________________________________________________
                                Authorized Representative

                         CERTIFICATE OF AUTHENTICATION

          This is one of the Class R Certificates referred to in the
within-mentioned Agreement.

Dated:

                        WELLS FARGO BANK MINNESOTA, N.A.
                        as Certificate Registrar

                        By: ________________________________________________
                                Authorized Representative

                                     A-5-8
<PAGE>

                                   ASSIGNMENT

          FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and
transfer(s) unto_______________________________________________________________
_______________________________________________________________________________
             (please print or typewrite name and address
             including postal zip code of assignee)

the beneficial ownership interest in the Trust Fund evidenced by the within
Mortgage Pass-Through Certificate and hereby authorize(s) the registration of
transfer of such interest to assignee on the Certificate Register of the Trust
Fund.

          I (we) further direct the Certificate Registrar to issue a new
Mortgage Pass-Through Certificate of a like Percentage Interest and Class to
the above named assignee and deliver such Mortgage Pass-Through Certificate to
the following address: _________________________________________________________
________________________________________________________________________________

Dated:

                      ________________________________________________________
                      Signature by or on behalf of Assignor

                      ________________________________________________________
                      Signature Guaranteed

                           DISTRIBUTION INSTRUCTIONS

          The Assignee should include the following for purposes of
distribution:

          Distributions shall, if permitted, be made by wire transfer or
otherwise, in immediately available funds, to__________________________________
for the account of_____________________________________________________________.

          Distributions made by check (such check to be made payable to
___________________________) and all applicable statements and notices should
be mailed to___________________________________________________________________.

          This information is provided by______________________________________,
the Assignee named above, or___________________________________________________,
as its agent.

                                     A-5-9
<PAGE>

                                  EXHIBIT B-1

                    SCHEDULE OF COLUMN TRUST MORTGAGE LOANS

                                     B-1-1

<PAGE>

<TABLE>
<CAPTION>
                                                                                                             Zip
  #    Crossed  Loan Name                                   Address                    City        State     Code
--------------------------------------------------------------------------------------------------------------------
<S>    <C>      <C>                             <C>                              <C>               <C>       <C>
  1             Circle Centre Mall              49 West Maryland Street          Indianapolis      IN        46204
--------------------------------------------------------------------------------------------------------------------
  2             Wanamaker Building - Office     100 Penn Square East             Philadelphia      PA        19107
--------------------------------------------------------------------------------------------------------------------
  4      (A)    Mira Mesa Market Center West    10604 - 10789 Westview Parkway   San Diego         CA        92126
--------------------------------------------------------------------------------------------------------------------
  5      (A)    Mira Mesa Market Center East    10604-10789 Westview Parkway     San Diego         CA        92126
--------------------------------------------------------------------------------------------------------------------
                                                6565 Knott Avenue, 6535 & 6625
  6      (B)    PCCP - Commerce Centre          Caballero Boulevard              Buena Park        CA        90620
--------------------------------------------------------------------------------------------------------------------
                PCCP - Paramount Distribution
  7      (B)    Center                          14001 Orange Avenue              Paramount         CA        90723
--------------------------------------------------------------------------------------------------------------------
  8      (B)    PCCP - 301 Walnut               301 West Walnut Street           Compton           CA        90220
--------------------------------------------------------------------------------------------------------------------
  9A            Mayfair Mall - Retail           2500 North Mayfair Road          Wauwatosa         WI        53226
--------------------------------------------------------------------------------------------------------------------
  9B            Mayfair Mall - Office Complex   2500 North Mayfair Road          Wauwatosa         WI        53226
--------------------------------------------------------------------------------------------------------------------
  10            540 Madison Avenue              540 Madison Avenue               New York          NY        10022
--------------------------------------------------------------------------------------------------------------------
                Town & Country Apartments -
  11            Urbana                          1032 Kerr Avenue                 Urbana            IL        61802
--------------------------------------------------------------------------------------------------------------------
  16     (C)    Red Lion Hotel Port Angeles     221 North Lincoln Street         Port Angeles      WA        98362
--------------------------------------------------------------------------------------------------------------------
  17     (C)    Red Lion Hotel Yakima Center    607 East Yakima Avenue           Yakima            WA        98901
--------------------------------------------------------------------------------------------------------------------
  18     (C)    Red Lion Hotel Eureka           1929 Fourth Street               Eureka            CA        95501
--------------------------------------------------------------------------------------------------------------------
  19     (C)    Red Lion Hotel Twin Falls       1357 Blue Lakes Boulevard North  Twin Falls        ID        83301
--------------------------------------------------------------------------------------------------------------------
                                                101 North Columbia Center
  20     (C)    Red Lion Hotel Kennewick        Boulevard                        Kennewick         WA        99336
--------------------------------------------------------------------------------------------------------------------
                Arlington & Bradley Office
  21            Center                          6917-6937 Arlington Road         Bethesda          MD        20814
--------------------------------------------------------------------------------------------------------------------
  23            780 James P. Casey Road         780 James P. Casey Road          Bristol           CT        06010
--------------------------------------------------------------------------------------------------------------------
  24            800 Apollo                      800 Apollo Street                El Segundo        CA        90245
--------------------------------------------------------------------------------------------------------------------
                                                501-565 Busse Road and
  25            Regent Industrial Center        1800-1872 Brummel Drive          Elk Grove Village IL        60007
--------------------------------------------------------------------------------------------------------------------
  26            Sarasota Gateway                301 & 401 North Cattlemen Road   Sarasota          FL        34232
--------------------------------------------------------------------------------------------------------------------
  27            Bristol Farms Apartments        12007 Northeast 204th Place      Bothell           WA        98011
--------------------------------------------------------------------------------------------------------------------
  28            Country View Mobile Home Park   221 North Marion Road            Sioux Falls       SD        57107
--------------------------------------------------------------------------------------------------------------------
  29            University Commons              90 Commons Drive                 Eugene            OR        97401
--------------------------------------------------------------------------------------------------------------------
                                                8321 West Princeton Square
  30            Princeton Square Apartments     Boulevard                        Jacksonville      FL        32256
--------------------------------------------------------------------------------------------------------------------
  31            Burlington Center Mall          2501 Burlington-Mount Holly Road Burlington        NJ        08016
--------------------------------------------------------------------------------------------------------------------
  32            Club at Tranquility Lake        2800 Tranquility Lake Boulevard  Pearland          TX        77584
--------------------------------------------------------------------------------------------------------------------
  33            Warner Center Business Park     Oxnard Street & Califa Street    Woodland Hills    CA        91367
--------------------------------------------------------------------------------------------------------------------
  34            Expressway Mall                 575-605 Rohnert Park Expressway  Rohnert Park      CA        94928
--------------------------------------------------------------------------------------------------------------------
  35            Airline Shopping Center         2701 Airline Drive               Metairie          LA        70001
--------------------------------------------------------------------------------------------------------------------
                Windward Village Shopping
  36            Center                          11877 Douglas Road               Alpharetta        GA        30005
--------------------------------------------------------------------------------------------------------------------
  37            Playa Blanca Apartments         1905-1979 Avenida Del Mexico     San Diego         CA        92154
--------------------------------------------------------------------------------------------------------------------
  38            Torrey View Corporate Center    10590 West Ocean Air Drive       San Diego         CA        92130
--------------------------------------------------------------------------------------------------------------------
  41            The Moorings Apartments         601 Enterprise Avenue            League City       TX        77573
--------------------------------------------------------------------------------------------------------------------
                5th & Lamar Retail/Office
  42            Development                     907 West 5th Street              Austin            TX        78703
--------------------------------------------------------------------------------------------------------------------
                American Village on the Lake
  43            Apartments                      9601 21st Street                 Tulsa             OK        74129
--------------------------------------------------------------------------------------------------------------------
  44            Ryan's Pointe Apartments        19606 Park Row                   Houston           TX        77084
--------------------------------------------------------------------------------------------------------------------
  45            Cleveland Street Square         16528 Cleveland Street           Redmond           WA        98052
--------------------------------------------------------------------------------------------------------------------
  47            Rivermont Apartments            201 Marina Drive                 Tuscaloosa        AL        35406
--------------------------------------------------------------------------------------------------------------------
                Westover Gallery Shopping       1310-1424 Westover Terrace and
  50            Center                          1500 Mill Street                 Greensboro        NC        27408
--------------------------------------------------------------------------------------------------------------------
  53            Trestles of Houston Apartments  14365 Cornerstone Village        Houston           TX        77014
--------------------------------------------------------------------------------------------------------------------
  54            Pemstar, Inc. Headquarters      3535 Technology Drive, NW        Rochester         MN        55901
--------------------------------------------------------------------------------------------------------------------
  56            Riverbend Apartments            655 West State Road 436          Altamonte Springs FL        32714
--------------------------------------------------------------------------------------------------------------------
  57            D'Adrian Meadows Apartments     1233 Surrey Court                Godfrey           IL        62035
--------------------------------------------------------------------------------------------------------------------
  58            Park Place                      1044 North 115th Street          Omaha             NE        68154
--------------------------------------------------------------------------------------------------------------------
  59            Millstone Lakes Apartments      4133 Parkview Lake Drive         Columbus          OH        43207
--------------------------------------------------------------------------------------------------------------------
  61            Aspen Woods                     2910 South Collins Street        Arlington         TX        76014
--------------------------------------------------------------------------------------------------------------------
  62            Iliff Commons Shopping Center   2220 South Peoria Street         Aurora            CO        80014
--------------------------------------------------------------------------------------------------------------------
                Atlantic Boulevard Shopping
  63            Center                          10750 Atlantic Boulevard         Jacksonville      FL        32225
--------------------------------------------------------------------------------------------------------------------
  64            Shoppes at Brandon Farms        2535 East State Road 60          Valrico           FL        33594
--------------------------------------------------------------------------------------------------------------------
                Court Street Plaza Shopping
  65            Center                          1408 North 20th Avenue           Pasco             WA        99301
--------------------------------------------------------------------------------------------------------------------
  67            300 Alexander Park              300 Alexander Park               Princeton         NJ        08540
--------------------------------------------------------------------------------------------------------------------
  68            4861 & 4891 Telsa Drive         4861 & 4891 Telsa Drive          Bowie             MD        20715
--------------------------------------------------------------------------------------------------------------------

<CAPTION>

  #    Crossed Loan Name                                         Original      Cut-off Date                 Interest
                                                  Mortgage      Principal       Principal     Maturity/ARD    Only
                                                 Loan Seller     Balance        Balance (1)    Balance (2)   Period
--------------------------------------------------------------------------------------------------------------------
<S>      <C>   <C>                                 <C>         <C>             <C>             <C>                <C>
  1            Circle Centre Mall                  Column      $80,000,000     $79,550,681     $65,827,398.20      0
--------------------------------------------------------------------------------------------------------------------
  2            Wanamaker Building - Office         Column      $65,000,000     $65,000,000     $55,468,910.51     12
--------------------------------------------------------------------------------------------------------------------
  4      (A)   Mira Mesa Market Center West        Column      $34,500,000     $34,402,676     $29,055,845.49      0
--------------------------------------------------------------------------------------------------------------------
  5      (A)   Mira Mesa Market Center East        Column      $28,500,000     $28,419,602     $24,002,654.05      0
--------------------------------------------------------------------------------------------------------------------
  6      (B)   PCCP - Commerce Centre              Column      $38,500,000     $38,500,000     $38,500,000.00     60
--------------------------------------------------------------------------------------------------------------------
               PCCP - Paramount Distribution
  7      (B)   Center                              Column       $9,600,000      $9,600,000      $9,600,000.00     60
--------------------------------------------------------------------------------------------------------------------
  8      (B)   PCCP - 301 Walnut                   Column       $6,400,000      $6,400,000      $6,400,000.00     60
--------------------------------------------------------------------------------------------------------------------
  9A           Mayfair Mall - Retail               Column      $37,339,394     $37,219,884     $33,352,097.64      0
--------------------------------------------------------------------------------------------------------------------
  9B           Mayfair Mall - Office Complex       Column      $10,160,606     $10,128,086      $9,075,603.62      0
--------------------------------------------------------------------------------------------------------------------
  10           540 Madison Avenue                  Column      $45,000,000     $45,000,000     $42,966,666.87     59
--------------------------------------------------------------------------------------------------------------------
               Town & Country Apartments -
  11           Urbana                              Column      $25,200,000     $25,200,000      $21,293,179.53    12
--------------------------------------------------------------------------------------------------------------------
  16     (C)   Red Lion Hotel Port Angeles         Column       $9,100,000      $9,079,774      $7,213,631.10      0
--------------------------------------------------------------------------------------------------------------------
  17     (C)   Red Lion Hotel Yakima Center        Column       $5,100,000      $5,088,664      $4,042,804.43      0
--------------------------------------------------------------------------------------------------------------------
  18     (C)   Red Lion Hotel Eureka               Column       $3,000,000      $2,993,332      $2,378,120.86      0
--------------------------------------------------------------------------------------------------------------------
  19     (C)   Red Lion Hotel Twin Falls           Column       $3,000,000      $2,993,332      $2,378,120.86      0
--------------------------------------------------------------------------------------------------------------------
  20     (C)   Red Lion Hotel Kennewick            Column       $2,500,000      $2,494,443      $1,981,766.24      0
--------------------------------------------------------------------------------------------------------------------
               Arlington & Bradley Office
  21           Center                              Column      $20,880,000     $20,880,000     $18,476,190.04     24
--------------------------------------------------------------------------------------------------------------------
  23           780 James P. Casey Road             Column      $20,000,000     $19,964,899     $18,660,260.98      0
--------------------------------------------------------------------------------------------------------------------
  24           800 Apollo                          Column      $19,800,000     $19,639,499     $16,891,627.63      0
--------------------------------------------------------------------------------------------------------------------
  25           Regent Industrial Center            Column      $18,500,000     $18,385,981     $15,410,381.73      0
--------------------------------------------------------------------------------------------------------------------
  26           Sarasota Gateway                    Column      $16,150,000     $16,101,664     $13,493,497.79      0
--------------------------------------------------------------------------------------------------------------------
  27           Bristol Farms Apartments            Column      $16,025,000     $16,025,000     $15,163,773.28     13
--------------------------------------------------------------------------------------------------------------------
  28           Country View Mobile Home Park       Column      $15,400,000     $15,400,000     $12,999,307.21     24
--------------------------------------------------------------------------------------------------------------------
  29           University Commons                  Column      $14,542,500     $14,484,667     $12,532,178.04      0
--------------------------------------------------------------------------------------------------------------------
  30           Princeton Square Apartments         Column      $14,370,000     $14,322,598     $11,839,490.99      0
--------------------------------------------------------------------------------------------------------------------
  31           Burlington Center Mall              Column      $14,000,000     $13,960,688     $11,797,905.28      0
--------------------------------------------------------------------------------------------------------------------
  32           Club at Tranquility Lake            Column      $14,000,000     $13,924,741     $12,653,831.39      0
--------------------------------------------------------------------------------------------------------------------
  33           Warner Center Business Park         Column      $13,800,000     $13,707,100     $11,705,385.47      0
--------------------------------------------------------------------------------------------------------------------
  34           Expressway Mall                     Column      $12,500,000     $12,440,396     $10,530,791.00      0
--------------------------------------------------------------------------------------------------------------------
  35           Airline Shopping Center             Column      $12,000,000     $11,963,270      $9,994,854.37      0
--------------------------------------------------------------------------------------------------------------------
  36           Windward Village Shopping Center    Column      $11,500,000     $11,456,352      $9,659,763.15      0
--------------------------------------------------------------------------------------------------------------------
  37           Playa Blanca Apartments             Column      $11,000,000     $11,000,000     $10,193,138.86     60
--------------------------------------------------------------------------------------------------------------------
  38           Torrey View Corporate Center        Column      $11,000,000     $11,000,000      $9,084,861.03     24
--------------------------------------------------------------------------------------------------------------------
  41           The Moorings Apartments             Column      $10,500,000     $10,449,029      $8,824,479.93      0
--------------------------------------------------------------------------------------------------------------------
               5th & Lamar Retail/Office
  42           Development                         Column       $9,950,000      $9,927,668      $7,514,139.41      0
--------------------------------------------------------------------------------------------------------------------
               American Village on the Lake
  43           Apartments                          Column       $9,950,000      $9,918,166      $8,234,979.21      0
--------------------------------------------------------------------------------------------------------------------
  44           Ryan's Pointe Apartments            Column       $9,800,000      $9,722,436      $8,264,172.93      0
--------------------------------------------------------------------------------------------------------------------
  45           Cleveland Street Square             Column       $9,750,000      $9,704,446      $8,236,351.87      0
--------------------------------------------------------------------------------------------------------------------
  47           Rivermont Apartments                Column       $9,500,000      $9,500,000      $9,500,000.00     60
--------------------------------------------------------------------------------------------------------------------
  50           Westover Gallery Shopping Center    Column       $8,225,000      $8,200,383      $6,872,074.45      0
--------------------------------------------------------------------------------------------------------------------
  53           Trestles of Houston Apartments      Column       $7,622,000      $7,568,426      $6,532,766.47      0
--------------------------------------------------------------------------------------------------------------------
  54           Pemstar, Inc. Headquarters          Column       $7,500,000      $7,425,395        $202,425.63      0
--------------------------------------------------------------------------------------------------------------------
  56           Riverbend Apartments                Column       $6,800,000      $6,767,357      $5,723,593.56      0
--------------------------------------------------------------------------------------------------------------------
  57           D'Adrian Meadows Apartments         Column       $6,720,000      $6,678,583      $5,597,717.12      0
--------------------------------------------------------------------------------------------------------------------
  58           Park Place                          Column       $6,500,000      $6,480,851      $5,824,370.27      0
--------------------------------------------------------------------------------------------------------------------
  59           Millstone Lakes Apartments          Column       $6,200,000      $6,174,031      $5,138,349.17      0
--------------------------------------------------------------------------------------------------------------------
  61           Aspen Woods                         Column       $6,100,000      $6,053,318      $5,703,667.29      0
--------------------------------------------------------------------------------------------------------------------
  62           Iliff Commons Shopping Center       Column       $6,000,000      $5,970,416      $5,031,773.36      0
--------------------------------------------------------------------------------------------------------------------
               Atlantic Boulevard Shopping
  63           Center                              Column       $5,700,000      $5,689,894      $4,799,461.31      0
--------------------------------------------------------------------------------------------------------------------
  64           Shoppes at Brandon Farms            Column       $5,550,000      $5,523,118      $4,665,789.49      0
--------------------------------------------------------------------------------------------------------------------
               Court Street Plaza Shopping
  65           Center                              Column       $5,500,000      $5,474,535      $4,651,703.09      0
--------------------------------------------------------------------------------------------------------------------
  67           300 Alexander Park                  Column       $5,250,000      $5,225,526      $4,436,285.41      0
--------------------------------------------------------------------------------------------------------------------
  68           4861 & 4891 Telsa Drive             Column       $5,240,000      $5,210,154      $4,412,309.43      0
--------------------------------------------------------------------------------------------------------------------

<CAPTION>

                                                      Original       Remaining          Original       Remaining
                                                    Amortization    Amortization         Term to        Term to
   #     Crossed   Loan Name                          Term            Term            Maturity (2)    Maturity (2)
-------------------------------------------------------------------------------------------------------------------
<S>        <C>     <C>                              <C>            <C>                        <C>              <C>
   1               Circle Centre Mall                          360            355             120              115
-------------------------------------------------------------------------------------------------------------------
   2               Wanamaker Building - Office                 360            360             120              117
-------------------------------------------------------------------------------------------------------------------
   4       (A)     Mira Mesa Market Center West                360            357             120              117
-------------------------------------------------------------------------------------------------------------------
   5       (A)     Mira Mesa Market Center East                360            357             120              117
-------------------------------------------------------------------------------------------------------------------
   6       (B)     PCCP - Commerce Centre          Interest Only   Interest Only               60               59
-------------------------------------------------------------------------------------------------------------------
                   PCCP - Paramount Distribution
   7       (B)     Center                          Interest Only   Interest Only               60               59
-------------------------------------------------------------------------------------------------------------------
   8       (B)     PCCP - 301 Walnut               Interest Only   Interest Only               60               59
-------------------------------------------------------------------------------------------------------------------
  9A               Mayfair Mall - Retail                       360            358              60               58
-------------------------------------------------------------------------------------------------------------------
  9B               Mayfair Mall - Office Complex               360            358              60               58
-------------------------------------------------------------------------------------------------------------------
  10               540 Madison Avenue                                                         120              118
-------------------------------------------------------------------------------------------------------------------
                   Town & Country Apartments -
  11               Urbana                                      360            360             120              115
-------------------------------------------------------------------------------------------------------------------
  16       (C)     Red Lion Hotel Port Angeles                 300            298             120              118
-------------------------------------------------------------------------------------------------------------------
  17       (C)     Red Lion Hotel Yakima Center                300            298             120              118
-------------------------------------------------------------------------------------------------------------------
  18       (C)     Red Lion Hotel Eureka                       300            298             120              118
-------------------------------------------------------------------------------------------------------------------
  19       (C)     Red Lion Hotel Twin Falls                   300            298             120              118
-------------------------------------------------------------------------------------------------------------------
  20       (C)     Red Lion Hotel Kennewick                    300            298             120              118
-------------------------------------------------------------------------------------------------------------------
                   Arlington & Bradley Office
  21               Center                                      360            360             120              115
-------------------------------------------------------------------------------------------------------------------
  23               780 James P. Casey Road                     360            358              60               58
-------------------------------------------------------------------------------------------------------------------
  24               800 Apollo                                  360            351             120              111
-------------------------------------------------------------------------------------------------------------------
  25               Regent Industrial Center                    360            354             120              114
-------------------------------------------------------------------------------------------------------------------
  26               Sarasota Gateway                            360            357             120              117
-------------------------------------------------------------------------------------------------------------------
  27               Bristol Farms Apartments                    360            360              61               56
-------------------------------------------------------------------------------------------------------------------
  28               Country View Mobile Home Park               324            324             120              117
-------------------------------------------------------------------------------------------------------------------
  29               University Commons                          360            355             120              115
-------------------------------------------------------------------------------------------------------------------
  30               Princeton Square Apartments                 360            357             120              117
-------------------------------------------------------------------------------------------------------------------
  31               Burlington Center Mall                      360            357             120              117
-------------------------------------------------------------------------------------------------------------------
  32               Club at Tranquility Lake                    360            354              84               78
-------------------------------------------------------------------------------------------------------------------
  33               Warner Center Business Park                 360            353             120              113
-------------------------------------------------------------------------------------------------------------------
  34               Expressway Mall                             360            355             120              115
-------------------------------------------------------------------------------------------------------------------
  35               Airline Shopping Center                     360            357             120              117
-------------------------------------------------------------------------------------------------------------------
                   Windward Village Shopping
  36               Center                                      360            356             120              116
-------------------------------------------------------------------------------------------------------------------
  37               Playa Blanca Apartments                     360            360             120              118
-------------------------------------------------------------------------------------------------------------------
  38               Torrey View Corporate Center                300            300             120              115
-------------------------------------------------------------------------------------------------------------------
  41               The Moorings Apartments                     360            355             120              115
-------------------------------------------------------------------------------------------------------------------
                   5th & Lamar Retail/Office
  42               Development                                 360            357             180              177
-------------------------------------------------------------------------------------------------------------------
                   American Village on the Lake
  43               Apartments                                  360            357             120              117
-------------------------------------------------------------------------------------------------------------------
  44               Ryan's Pointe Apartments                    360            352             120              112
-------------------------------------------------------------------------------------------------------------------
  45               Cleveland Street Square                     360            355             120              115
-------------------------------------------------------------------------------------------------------------------
  47               Rivermont Apartments            Interest Only   Interest Only               60               53
-------------------------------------------------------------------------------------------------------------------
                   Westover Gallery Shopping
  50               Center                                      360            357             120              117
-------------------------------------------------------------------------------------------------------------------
  53               Trestles of Houston Apartments              360            352             120              112
-------------------------------------------------------------------------------------------------------------------
  54               Pemstar, Inc. Headquarters                  240            235             240              235
-------------------------------------------------------------------------------------------------------------------
  56               Riverbend Apartments                        360            355             120              115
-------------------------------------------------------------------------------------------------------------------
  57               D'Adrian Meadows Apartments                 360            354             120              114
-------------------------------------------------------------------------------------------------------------------
  58               Park Place                                  360            357              84               81
-------------------------------------------------------------------------------------------------------------------
  59               Millstone Lakes Apartments                  360            356             120              116
-------------------------------------------------------------------------------------------------------------------
  61               Aspen Woods                                 360            352              60               52
-------------------------------------------------------------------------------------------------------------------
  62               Iliff Commons Shopping Center               360            355             120              115
-------------------------------------------------------------------------------------------------------------------
                   Atlantic Boulevard Shopping
  63               Center                                      360            358             120              118
-------------------------------------------------------------------------------------------------------------------
  64               Shoppes at Brandon Farms                    360            355             120              115
-------------------------------------------------------------------------------------------------------------------
                   Court Street Plaza Shopping
  65               Center                                      360            355             120              115
-------------------------------------------------------------------------------------------------------------------
  67               300 Alexander Park                          360            355             120              115
-------------------------------------------------------------------------------------------------------------------
  68               4861 & 4891 Telsa Drive                     360            354             120              114
-------------------------------------------------------------------------------------------------------------------

                                                       B-1-2
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
                                                                                                             Zip
  #    Crossed  Loan Name                                   Address                    City        State     Code
--------------------------------------------------------------------------------------------------------------------
<S>    <C>      <C>                             <C>                              <C>               <C>       <C>
  69            Longview Meadow Apartments      1100 Ray Suggs Place             Concord           NC        28027
--------------------------------------------------------------------------------------------------------------------
  70            8501 LaSalle Road               8501 LaSalle Road                Towson            MD        21286
--------------------------------------------------------------------------------------------------------------------
  71            Trestles of Baytown Apartments  3403 Garth Road                  Baytown           TX        77521
--------------------------------------------------------------------------------------------------------------------
  72            Santa Fe Place Apartments       4210 Fredericksburg Road         Balcones Heights  TX        78201
--------------------------------------------------------------------------------------------------------------------
  73            Plumtree Professional Center    104 Plumtree Road                Bel Air           MD        21015
--------------------------------------------------------------------------------------------------------------------
  75            Canyon Woods Apartments         2524 West Glenrosa Avenue        Phoenix           AZ        85017
--------------------------------------------------------------------------------------------------------------------
  76            Grove Street                    165 Grove Street                 Franklin          MA        02038
--------------------------------------------------------------------------------------------------------------------
  78            Ashley Park Apartments          2600 Frontage Road               Oklahoma City     OK        73519
--------------------------------------------------------------------------------------------------------------------
  79            Rosemont Retail Center          9500 West Higgins Road           Rosemont          IL        60018
--------------------------------------------------------------------------------------------------------------------
  81            Cardinal Shopping Center        6310 Old Oak Ridge Road          Greensboro        NC        27410
--------------------------------------------------------------------------------------------------------------------
  82            Grogan's Mill Village Center    2230-2260 Buckthorne Place       The Woodlands     TX        77380
--------------------------------------------------------------------------------------------------------------------
  83            Atlas Valley Shopping Center    2770 Arapahoe Road               Lafayette         CO        80026
--------------------------------------------------------------------------------------------------------------------
                                                3739-3755 Mayfield Road &
                                                1375-1395 Cleveland Heights
  84            Heights Garden Apartments       Boulevard                        Cleveland         OH        44121
--------------------------------------------------------------------------------------------------------------------
  85            Radnor Towers Apartments        3110 Nolensville Road            Nashville         TN        37211
--------------------------------------------------------------------------------------------------------------------
  87            10 Canebrake Boulevard          10 Canebrake Road                Flowood           MS        39232
--------------------------------------------------------------------------------------------------------------------
  88            The Forest Apartments           22820 Imperial Valley Drive      Houston           TX        77073
--------------------------------------------------------------------------------------------------------------------
                Gristedes - 3rd Ave. and 36th
  89            Street                          201 East 36th Street             New York          NY        10016
--------------------------------------------------------------------------------------------------------------------
  90            111 & 121 Roberts Street        111 & 121 Roberts Street         East Hartford     CT        06108
--------------------------------------------------------------------------------------------------------------------
                Richland Village Shopping
  91            Center                          1310-1396 Belt Line Road East    Richardson        TX        75081
--------------------------------------------------------------------------------------------------------------------
  92            Pacific West Apartments         14121 Pierce Plaza               Omaha             NE        68144
--------------------------------------------------------------------------------------------------------------------
  93            Atrium Medical Office Building  2417 Atrium Drive                Raleigh           NC        27607
--------------------------------------------------------------------------------------------------------------------
  94            Wingate Inn Fayetteville        4182 Sycamore Dairy Road         Fayetteville      NC        28303
--------------------------------------------------------------------------------------------------------------------
  95            Millside Building               2170 Buckthorne Place            The Woodlands     TX        77380
--------------------------------------------------------------------------------------------------------------------
 100            Market at Southern Pines        135-171 Beverly Lane             Southern Pines    NC        28387
--------------------------------------------------------------------------------------------------------------------
 101            Palm Shadows MH & RV Park       200 North Val Verde Road         Donna             TX        78537
--------------------------------------------------------------------------------------------------------------------
 103            Anderson Oaks Mobile Home Park  600 East Anderson Road           Houston           TX        77047
--------------------------------------------------------------------------------------------------------------------
 108            Magic Valley Park               2300 East Highway 83             Weslaco           TX        78596
--------------------------------------------------------------------------------------------------------------------
 109            River Park Apartments           241 Seville Drive                New Braunfels     TX        78130
--------------------------------------------------------------------------------------------------------------------
 110            Portway Plaza Office Building   1717 Turning Basin Drive         Houston           TX        77029
--------------------------------------------------------------------------------------------------------------------
 111            Marigold Apartments             2303 Goliad Road                 San Antonio       TX        78223
--------------------------------------------------------------------------------------------------------------------
 112            Carlton Apartments              6301 Woodway Drive               Fort Worth        TX        76133
--------------------------------------------------------------------------------------------------------------------
 113     (D)    Ramey's Mobile Home Park        1600 Lynchburg Turnpike          Salem             VA        24153
--------------------------------------------------------------------------------------------------------------------
 114     (D)    Bexley Mobile Home Park         7413 Allstate Drive              Petersburg        VA        23805
--------------------------------------------------------------------------------------------------------------------
 117            Lincoln Professional Plaza      8683 East Lincoln Avenue         Lone Tree         CO        80124
--------------------------------------------------------------------------------------------------------------------
 118            Santa Grande Mobile Home Park   4375 West Missouri Avenue        Glendale          AZ        85301
--------------------------------------------------------------------------------------------------------------------
 119            301 N. Brand Blvd.              301 North Brand Boulevard        Glendale          CA        91203
--------------------------------------------------------------------------------------------------------------------
 120            Tropicana Del Este Apartments   5425 East Tropicana Avenue       Las Vegas         NV        89122
--------------------------------------------------------------------------------------------------------------------
 123            Sundance Village MHP            1400 Banana Road                 Lakeland          FL        33801
--------------------------------------------------------------------------------------------------------------------
 124            University Plaza                913 West 3rd Street              Pembroke          NC        28372
--------------------------------------------------------------------------------------------------------------------
                Campbell Station Shopping
 125            Center                          4910 Columbia Highway            Spring Hill       TN        37174
--------------------------------------------------------------------------------------------------------------------
 126            Southwest Storage               2555 Eldridge Road               Sugar Land        TX        77478
--------------------------------------------------------------------------------------------------------------------
 129            Greenbriar MHP                  2120 Duff Road                   Lakeland          FL        33810
--------------------------------------------------------------------------------------------------------------------
 130            Trafalgar Square Apartments     2477 County Home Road            Greenville        NC        27858
--------------------------------------------------------------------------------------------------------------------
 131            Queens Lane Apartments          2525 Allen Genoa Road            Pasadena          TX        77502
--------------------------------------------------------------------------------------------------------------------
 133            327 East 52nd Street            327 East 52nd Street             New York          NY        10022
--------------------------------------------------------------------------------------------------------------------
 134            Naples Place IV                 4058 Bayshore Drive              Naples            FL        34112
--------------------------------------------------------------------------------------------------------------------
 135            Park City Shopping Center       320 Homer Road                   Minden            LA        71055
--------------------------------------------------------------------------------------------------------------------
 136            Kennesaw Promenade              3600 Cherokee Street             Kennesaw          GA        30144
--------------------------------------------------------------------------------------------------------------------
 137            Lakewood Village - FL           5601 Duncan Road                 Punta Gorda       FL        33982
--------------------------------------------------------------------------------------------------------------------
 139            2317-2335 Market Street         2317-2335 Market Street          San Francisco     CA        94114
--------------------------------------------------------------------------------------------------------------------
 140            Gloucester Apartments           17 Cleveland Street              Gloucester        MA        01930
--------------------------------------------------------------------------------------------------------------------
 141            Bayou Villa Apartments          3030 Old Highway 146             La Porte          TX        77571
--------------------------------------------------------------------------------------------------------------------
                South Michigan Avenue Office
 142            Building                        1455 South Michigan Avenue       Chicago           IL        60605
--------------------------------------------------------------------------------------------------------------------
 143            Gateway Retail Center           15470 Andrews Drive              Denver            CO        80239
--------------------------------------------------------------------------------------------------------------------

<CAPTION>

  #    Crossed Loan Name                                         Original      Cut-off Date                 Interest
                                                  Mortgage      Principal       Principal     Maturity/ARD    Only
                                                 Loan Seller     Balance        Balance (1)    Balance (2)   Period
--------------------------------------------------------------------------------------------------------------------
<S>    <C>     <C>                                 <C>          <C>             <C>             <C>                <C>
  69           Longview Meadow Apartments          Column       $5,200,000      $5,180,218      $4,366,557.37      0
--------------------------------------------------------------------------------------------------------------------
  70           8501 LaSalle Road                   Column       $5,200,000      $5,175,094      $4,378,192.39      0
--------------------------------------------------------------------------------------------------------------------
  71           Trestles of Baytown Apartments      Column       $5,206,250      $5,170,193      $4,470,813.14      0
--------------------------------------------------------------------------------------------------------------------
  72           Santa Fe Place Apartments           Column       $5,150,000      $5,119,530      $3,907,524.03      0
--------------------------------------------------------------------------------------------------------------------
  73           Plumtree Professional Center        Column       $5,050,000      $5,050,000      $4,293,729.11      6
--------------------------------------------------------------------------------------------------------------------
  75           Canyon Woods Apartments             Column       $4,900,000      $4,884,800      $4,073,526.58      0
--------------------------------------------------------------------------------------------------------------------
  76           Grove Street                        Column       $4,900,000      $4,880,209      $3,791,561.77      0
--------------------------------------------------------------------------------------------------------------------
  78           Ashley Park Apartments              Column       $4,850,000      $4,815,112      $4,144,257.28      0
--------------------------------------------------------------------------------------------------------------------
  79           Rosemont Retail Center              Column       $4,760,000      $4,742,602      $4,017,740.90      0
--------------------------------------------------------------------------------------------------------------------
  81           Cardinal Shopping Center            Column       $4,640,000      $4,626,113      $3,876,769.42      0
--------------------------------------------------------------------------------------------------------------------
  82           Grogan's Mill Village Center        Column       $4,525,000      $4,500,902      $3,843,393.98      0
--------------------------------------------------------------------------------------------------------------------
  83           Atlas Valley Shopping Center        Column       $4,350,000      $4,327,695      $3,712,042.33      0
--------------------------------------------------------------------------------------------------------------------
  84           Heights Garden Apartments           Column       $4,320,000      $4,298,509      $3,618,421.46      0
--------------------------------------------------------------------------------------------------------------------
  85           Radnor Towers Apartments            Column       $4,250,000      $4,242,368      $3,573,112.30      0
--------------------------------------------------------------------------------------------------------------------
  87           10 Canebrake Boulevard              Column       $4,125,000      $4,117,779      $3,478,548.15      0
--------------------------------------------------------------------------------------------------------------------
  88           The Forest Apartments               Column       $4,050,000      $4,023,460      $3,448,326.85      0
--------------------------------------------------------------------------------------------------------------------
               Gristedes - 3rd Ave. and 36th
  89           Street                              Column       $4,000,000      $3,992,241      $3,330,808.89      0
--------------------------------------------------------------------------------------------------------------------
  90           111 & 121 Roberts Street            Column       $3,950,000      $3,917,276      $3,046,531.16      0
--------------------------------------------------------------------------------------------------------------------
  91           Richland Village Shopping Center    Column       $3,700,000      $3,680,937      $3,155,540.05      0
--------------------------------------------------------------------------------------------------------------------
  92           Pacific West Apartments             Column       $3,700,000      $3,678,829      $3,113,671.54      0
--------------------------------------------------------------------------------------------------------------------
  93           Atrium Medical Office Building      Column       $3,700,000      $3,669,598      $3,103,169.49      0
--------------------------------------------------------------------------------------------------------------------
  94           Wingate Inn Fayetteville            Column       $3,600,000      $3,586,825      $2,835,975.23      0
--------------------------------------------------------------------------------------------------------------------
  95           Millside Building                   Column       $3,575,000      $3,555,961      $3,036,492.91      0
--------------------------------------------------------------------------------------------------------------------
 100           Market at Southern Pines            Column       $3,340,000      $3,330,182      $2,797,523.22      0
--------------------------------------------------------------------------------------------------------------------
 101           Palm Shadows MH & RV Park           Column       $3,250,000      $3,237,894      $2,736,588.52      0
--------------------------------------------------------------------------------------------------------------------
 103           Anderson Oaks Mobile Home Park      Column       $3,200,000      $3,191,240      $2,705,582.24      0
--------------------------------------------------------------------------------------------------------------------
 108           Magic Valley Park                   Column       $2,900,000      $2,889,325      $2,445,573.27      0
--------------------------------------------------------------------------------------------------------------------
 109           River Park Apartments               Column       $2,875,000      $2,860,379      $2,400,641.93      0
--------------------------------------------------------------------------------------------------------------------
 110           Portway Plaza Office Building       Column       $2,850,000      $2,833,767      $2,399,824.41      0
--------------------------------------------------------------------------------------------------------------------
 111           Marigold Apartments                 Column       $2,800,000      $2,785,823      $2,339,472.95      0
--------------------------------------------------------------------------------------------------------------------
 112           Carlton Apartments                  Column       $2,800,000      $2,776,801      $2,381,797.09      0
--------------------------------------------------------------------------------------------------------------------
 113     (D)   Ramey's Mobile Home Park            Column       $1,680,000      $1,666,448      $1,107,889.78      0
--------------------------------------------------------------------------------------------------------------------
 114     (D)   Bexley Mobile Home Park             Column       $1,104,000      $1,095,094        $728,042.14      0
--------------------------------------------------------------------------------------------------------------------
 117           Lincoln Professional Plaza          Column       $2,550,000      $2,540,276      $2,140,637.50      0
--------------------------------------------------------------------------------------------------------------------
 118           Santa Grande Mobile Home Park       Column       $2,525,000      $2,510,782      $2,129,378.67      0
--------------------------------------------------------------------------------------------------------------------
 119           301 N. Brand Blvd.                  Column       $2,500,000      $2,488,166      $2,153,473.26      0
--------------------------------------------------------------------------------------------------------------------
 120           Tropicana Del Este Apartments       Column       $2,475,000      $2,463,146      $2,083,851.01      0
--------------------------------------------------------------------------------------------------------------------
 123           Sundance Village MHP                Column       $2,350,000      $2,337,238      $1,813,069.31      0
--------------------------------------------------------------------------------------------------------------------
 124           University Plaza                    Column       $2,320,000      $2,311,236      $1,949,942.84      0
--------------------------------------------------------------------------------------------------------------------
 125           Campbell Station Shopping Center    Column       $2,325,000      $2,309,348      $1,972,103.27      0
--------------------------------------------------------------------------------------------------------------------
 126           Southwest Storage                   Column       $2,300,000      $2,285,492      $1,806,026.58      0
--------------------------------------------------------------------------------------------------------------------
 129           Greenbriar MHP                      Column       $2,100,000      $2,088,596      $1,620,188.79      0
--------------------------------------------------------------------------------------------------------------------
 130           Trafalgar Square Apartments         Column       $2,000,000      $1,996,317      $1,686,938.50      3
--------------------------------------------------------------------------------------------------------------------
 131           Queens Lane Apartments              Column       $2,000,000      $1,992,515      $1,683,032.81      0
--------------------------------------------------------------------------------------------------------------------
 133           327 East 52nd Street                Column       $1,920,000      $1,911,864      $1,472,005.03      0
--------------------------------------------------------------------------------------------------------------------
 134           Naples Place IV                     Column       $1,920,000      $1,909,093      $1,726,386.54      0
--------------------------------------------------------------------------------------------------------------------
 135           Park City Shopping Center           Column       $1,875,000      $1,852,001      $1,236,051.60      0
--------------------------------------------------------------------------------------------------------------------
 136           Kennesaw Promenade                  Column       $1,800,000      $1,790,714      $1,401,929.40      0
--------------------------------------------------------------------------------------------------------------------
 137           Lakewood Village - FL               Column       $1,800,000      $1,781,087         $21,925.33      0
--------------------------------------------------------------------------------------------------------------------
 139           2317-2335 Market Street             Column       $1,750,000      $1,741,386      $1,500,648.64      0
--------------------------------------------------------------------------------------------------------------------
 140           Gloucester Apartments               Column       $1,750,000      $1,740,146      $1,475,806.22      0
--------------------------------------------------------------------------------------------------------------------
 141           Bayou Villa Apartments              Column       $1,700,000      $1,693,638      $1,430,578.05      0
--------------------------------------------------------------------------------------------------------------------
               South Michigan Avenue Office
 142           Building                            Column       $1,700,000      $1,683,691      $1,541,807.95      0
--------------------------------------------------------------------------------------------------------------------
 143           Gateway Retail Center               Column       $1,625,000      $1,619,701      $1,390,647.11      0
--------------------------------------------------------------------------------------------------------------------

<CAPTION>

  #    Crossed Loan Name                           Original         Remaining        Original       Remaining
                                                 Amortization     Amortization       Term to         Term to
                                                     Term             Term         Maturity(2)     Maturity(2)
--------------------------------------------------------------------------------------------------------------
<S>    <C>     <C>                                        <C>              <C>             <C>            <C>
  69           Longview Meadow Apartments                 360              356             120            116
--------------------------------------------------------------------------------------------------------------
  70           8501 LaSalle Road                          360              355             120            115
--------------------------------------------------------------------------------------------------------------
  71           Trestles of Baytown Apartments             360              352             120            112
--------------------------------------------------------------------------------------------------------------
  72           Santa Fe Place Apartments                  300              296             120            116
--------------------------------------------------------------------------------------------------------------
  73           Plumtree Professional Center               360              360             120            114
--------------------------------------------------------------------------------------------------------------
  75           Canyon Woods Apartments                    360              357             120            117
--------------------------------------------------------------------------------------------------------------
  76           Grove Street                               300              297             120            117
--------------------------------------------------------------------------------------------------------------
  78           Ashley Park Apartments                     360              352             120            112
--------------------------------------------------------------------------------------------------------------
  79           Rosemont Retail Center                     360              356             120            116
--------------------------------------------------------------------------------------------------------------
  81           Cardinal Shopping Center                   360              357             120            117
--------------------------------------------------------------------------------------------------------------
  82           Grogan's Mill Village Center               360              354             120            114
--------------------------------------------------------------------------------------------------------------
  83           Atlas Valley Shopping Center               360              354             120            114
--------------------------------------------------------------------------------------------------------------
  84           Heights Garden Apartments                  360              355             120            115
--------------------------------------------------------------------------------------------------------------
  85           Radnor Towers Apartments                   360              358             120            118
--------------------------------------------------------------------------------------------------------------
  87           10 Canebrake Boulevard                     360              358             120            118
--------------------------------------------------------------------------------------------------------------
  88           The Forest Apartments                      360              353             120            113
--------------------------------------------------------------------------------------------------------------
               Gristedes - 3rd Ave. and 36th
  89           Street                                     360              358             120            118
--------------------------------------------------------------------------------------------------------------
  90           111 & 121 Roberts Street                   300              294             120            114
--------------------------------------------------------------------------------------------------------------
  91           Richland Village Shopping Center           360              354             120            114
--------------------------------------------------------------------------------------------------------------
  92           Pacific West Apartments                    360              354             120            114
--------------------------------------------------------------------------------------------------------------
  93           Atrium Medical Office Building             360              352             120            112
--------------------------------------------------------------------------------------------------------------
  94           Wingate Inn Fayetteville                   300              297             120            117
--------------------------------------------------------------------------------------------------------------
  95           Millside Building                          360              354             120            114
--------------------------------------------------------------------------------------------------------------
 100           Market at Southern Pines                   360              357             120            117
--------------------------------------------------------------------------------------------------------------
 101           Palm Shadows MH & RV Park                  360              356             120            116
--------------------------------------------------------------------------------------------------------------
 103           Anderson Oaks Mobile Home Park             360              357             120            117
--------------------------------------------------------------------------------------------------------------
 108           Magic Valley Park                          360              356             120            116
--------------------------------------------------------------------------------------------------------------
 109           River Park Apartments                      360              355             120            115
--------------------------------------------------------------------------------------------------------------
 110           Portway Plaza Office Building              360              354             120            114
--------------------------------------------------------------------------------------------------------------
 111           Marigold Apartments                        360              355             120            115
--------------------------------------------------------------------------------------------------------------
 112           Carlton Apartments                         360              351             120            111
--------------------------------------------------------------------------------------------------------------
 113     (D)   Ramey's Mobile Home Park                   240              236             120            116
--------------------------------------------------------------------------------------------------------------
 114     (D)   Bexley Mobile Home Park                    240              236             120            116
--------------------------------------------------------------------------------------------------------------
 117           Lincoln Professional Plaza                 360              356             120            116
--------------------------------------------------------------------------------------------------------------
 118           Santa Grande Mobile Home Park              360              354             120            114
--------------------------------------------------------------------------------------------------------------
 119           301 N. Brand Blvd.                         360              354             120            114
--------------------------------------------------------------------------------------------------------------
 120           Tropicana Del Este Apartments              360              355             120            115
--------------------------------------------------------------------------------------------------------------
 123           Sundance Village MHP                       300              296             120            116
--------------------------------------------------------------------------------------------------------------
 124           University Plaza                           360              356             120            116
--------------------------------------------------------------------------------------------------------------
 125           Campbell Station Shopping Center           360              353             120            113
--------------------------------------------------------------------------------------------------------------
 126           Southwest Storage                          300              295             120            115
--------------------------------------------------------------------------------------------------------------
 129           Greenbriar MHP                             300              296             120            116
--------------------------------------------------------------------------------------------------------------
 130           Trafalgar Square Apartments                360              358             120            115
--------------------------------------------------------------------------------------------------------------
 131           Queens Lane Apartments                     360              356             120            116
--------------------------------------------------------------------------------------------------------------
 133           327 East 52nd Street                       300              297             120            117
--------------------------------------------------------------------------------------------------------------
 134           Naples Place IV                            300              296              60             56
--------------------------------------------------------------------------------------------------------------
 135           Park City Shopping Center                  240              234             120            114
--------------------------------------------------------------------------------------------------------------
 136           Kennesaw Promenade                         300              296             120            116
--------------------------------------------------------------------------------------------------------------
 137           Lakewood Village - FL                      180              177             180            177
--------------------------------------------------------------------------------------------------------------
 139           2317-2335 Market Street                    360              354             120            114
--------------------------------------------------------------------------------------------------------------
 140           Gloucester Apartments                      360              354             120            114
--------------------------------------------------------------------------------------------------------------
 141           Bayou Villa Apartments                     360              356             120            116
--------------------------------------------------------------------------------------------------------------
               South Michigan Avenue Office
 142           Building                                   300              293              60             53
--------------------------------------------------------------------------------------------------------------
 143           Gateway Retail Center                      360              356             120            116
--------------------------------------------------------------------------------------------------------------

                                                          B-1-3
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
                                                                                                             Zip
  #    Crossed  Loan Name                                   Address                    City        State     Code
--------------------------------------------------------------------------------------------------------------------
<S>    <C>      <C>                             <C>                              <C>               <C>       <C>
 144            Murphy Retail Center            640 U.S. Highway 19              Murphy            NC        28906
--------------------------------------------------------------------------------------------------------------------
 145            Anaheim Street Retail Center    1223 - 1299 Anaheim Street       Long Beach        CA        90813
--------------------------------------------------------------------------------------------------------------------
 146            Park Street Retail              34 Park Street                   Andover           MA        01810
--------------------------------------------------------------------------------------------------------------------
 147            Sprinkle Ridge Apartments       5441 Meredith Drive              Portage           MI        49002
--------------------------------------------------------------------------------------------------------------------
 148            Melonie Square                  8004 Indiana Avenue              Lubbock           TX        79423
--------------------------------------------------------------------------------------------------------------------
 149            7000 North Freeway              7000 North Freeway               Houston           TX        77076
--------------------------------------------------------------------------------------------------------------------
 150            Sunny Isle Apartments           18200 NW 20th Avenue             Miami             FL        33056
--------------------------------------------------------------------------------------------------------------------
 151            Nichols Station I Apartments    311 North Hancock Street         Madison           WI        53703
--------------------------------------------------------------------------------------------------------------------
 152            Biddeford Apartments            614 Main Street                  Biddeford         ME        04005
--------------------------------------------------------------------------------------------------------------------
 153            Mount Vernon Apartments         300 Wilkinson Lane               White House       TN        37188
--------------------------------------------------------------------------------------------------------------------
                Cambridge Estates Apts (Phase
 154            III)                            2511 Malden Road                 Lafayette         IN        47201
--------------------------------------------------------------------------------------------------------------------
 155            South Ynez Apartments           201 South Ynez Avenue            Monterey Park     CA        91754
--------------------------------------------------------------------------------------------------------------------
                Colorado Square / Medlin Place
 156            Apartments                      2415 and 2601 Medlin Lane        Arlington         TX        76015
--------------------------------------------------------------------------------------------------------------------
 157            Country Oaks Mobile Home Park   7510 Talley Road                 San Antonio       TX        78253
--------------------------------------------------------------------------------------------------------------------
 158            Greenville Retail Center        240 SW Greenville Boulevard      Greenville        NC        27834
--------------------------------------------------------------------------------------------------------------------
 159            Cliffview Crossing              1111 West Ledbetter Drive        Dallas            TX        75224
--------------------------------------------------------------------------------------------------------------------
 160            Grove Apartments                1408 10th Avenue                 Union Grove       WI        53182
--------------------------------------------------------------------------------------------------------------------
 161            Greentree Apartments            1404-8011 Greenspire Drive       Reynoldsburg      OH        43068
--------------------------------------------------------------------------------------------------------------------
 162            Coachlite Apartments            2031 Lakeshore Drive             Belvidere         IL        61008
--------------------------------------------------------------------------------------------------------------------
 163            Northgate Terrace I Apartments  425 East 19th Street             Panama City       FL        32405
--------------------------------------------------------------------------------------------------------------------
 164            150 Broad Street                150 Broad Street                 Nashua            NH        03063
--------------------------------------------------------------------------------------------------------------------
 165            Sunset Avenue Apartments        53 Sunset Avenue                 Venice            CA        90291
--------------------------------------------------------------------------------------------------------------------
 166            Classic Village                 1403-1419 West Brandon Boulevard Brandon           FL        33511
--------------------------------------------------------------------------------------------------------------------
 167            Knox Landing Apartments         1549 Knox Drive                  Marietta          GA        30060
--------------------------------------------------------------------------------------------------------------------
 168            1013 West Linden Street         1013 West Linden Street          Allentown         PA        18102
--------------------------------------------------------------------------------------------------------------------
 169            Ledgewood Mobile Home Park      9505 North Bedford Road          Macedonia         OH        44056
--------------------------------------------------------------------------------------------------------------------
 170            83 Elizabeth Street             83 Elizabeth Street              Farmingdale       NY        11735
--------------------------------------------------------------------------------------------------------------------
                                                1231-1235 Elm Street and 12-18
 171            1235 Elm Street                 Pearl Street                     Manchester        NH        03101
--------------------------------------------------------------------------------------------------------------------
 116A           El Valle del Sol                2500 East Business Highway 83    Mission           TX        78572
--------------------------------------------------------------------------------------------------------------------
 116B           El Valle de la Luna             201 South Taylor Road            McAllen           TX        78501
--------------------------------------------------------------------------------------------------------------------
 132A           San Juan Gardens                900 East Business Highway 83     San Juan          TX        78589
--------------------------------------------------------------------------------------------------------------------
 132B           Friendly Village                1449 West Duranta Street         Alamo             TX        78516
--------------------------------------------------------------------------------------------------------------------

<CAPTION>

                                                                 Original      Cut-off Date                 Interest
                                                   Mortgage     Principal       Principal      Maturity/ARD   Only
  #    Crossed  Loan Name                          Loan Seller   Balance        Balance(1)      Balance(2)   Period
--------------------------------------------------------------------------------------------------------------------
<S>    <C>     <C>                                 <C>          <C>             <C>             <C>                <C>
 144           Murphy Retail Center                Column       $1,625,000      $1,605,120      $1,072,066.25      0
--------------------------------------------------------------------------------------------------------------------
 145           Anaheim Street Retail Center        Column       $1,600,000      $1,591,927      $1,251,142.10      0
--------------------------------------------------------------------------------------------------------------------
 146           Park Street Retail                  Column       $1,510,000      $1,503,934      $1,169,606.66      0
--------------------------------------------------------------------------------------------------------------------
 147           Sprinkle Ridge Apartments           Column       $1,500,000      $1,495,661      $1,259,076.22      0
--------------------------------------------------------------------------------------------------------------------
 148           Melonie Square                      Column       $1,500,000      $1,489,568      $1,156,374.88      0
--------------------------------------------------------------------------------------------------------------------
 149           7000 North Freeway                  Column       $1,500,000      $1,482,842         $27,923.68      0
--------------------------------------------------------------------------------------------------------------------
 150           Sunny Isle Apartments               Column       $1,440,000      $1,428,238      $1,113,665.28      0
--------------------------------------------------------------------------------------------------------------------
 151           Nichols Station I Apartments        Column       $1,435,000      $1,426,175      $1,195,720.98      0
--------------------------------------------------------------------------------------------------------------------
 152           Biddeford Apartments                Column       $1,400,000      $1,395,537      $1,201,172.13      0
--------------------------------------------------------------------------------------------------------------------
 153           Mount Vernon Apartments             Column       $1,360,000      $1,354,408      $1,048,780.04      0
--------------------------------------------------------------------------------------------------------------------
               Cambridge Estates Apts (Phase
 154           III)                                Column       $1,350,000      $1,340,793         $17,163.77      0
--------------------------------------------------------------------------------------------------------------------
 155           South Ynez Apartments               Column       $1,275,000      $1,266,118        $982,583.30      0
--------------------------------------------------------------------------------------------------------------------
               Colorado Square / Medlin Place
 156           Apartments                          Column       $1,260,000      $1,251,298      $1,137,729.00      0
--------------------------------------------------------------------------------------------------------------------
 157           Country Oaks Mobile Home Park       Column       $1,240,000      $1,236,637      $1,055,613.80      0
--------------------------------------------------------------------------------------------------------------------
 158           Greenville Retail Center            Column       $1,225,000      $1,210,014        $808,172.10      0
--------------------------------------------------------------------------------------------------------------------
 159           Cliffview Crossing                  Column       $1,200,000      $1,193,775        $933,681.73      0
--------------------------------------------------------------------------------------------------------------------
 160           Grove Apartments                    Column       $1,200,000      $1,192,279        $938,874.13      0
--------------------------------------------------------------------------------------------------------------------
 161           Greentree Apartments                Column       $1,200,000      $1,184,121         $17,732.37      0
--------------------------------------------------------------------------------------------------------------------
 162           Coachlite Apartments                Column       $1,100,000      $1,097,792        $911,918.45      0
--------------------------------------------------------------------------------------------------------------------
 163           Northgate Terrace I Apartments      Column       $1,100,000      $1,092,456        $850,321.57      0
--------------------------------------------------------------------------------------------------------------------
 164           150 Broad Street                    Column       $1,000,000        $995,990        $774,835.21      0
--------------------------------------------------------------------------------------------------------------------
 165           Sunset Avenue Apartments            Column         $980,000        $975,676        $833,998.85      0
--------------------------------------------------------------------------------------------------------------------
 166           Classic Village                     Column         $975,000        $970,217        $766,186.39      0
--------------------------------------------------------------------------------------------------------------------
 167           Knox Landing Apartments             Column         $950,000        $945,974        $728,336.01      0
--------------------------------------------------------------------------------------------------------------------
 168           1013 West Linden Street             Column         $765,000        $761,097        $597,013.43      0
--------------------------------------------------------------------------------------------------------------------
 169           Ledgewood Mobile Home Park          Column         $760,000        $756,094        $592,321.65      0
--------------------------------------------------------------------------------------------------------------------
 170           83 Elizabeth Street                 Column         $650,000        $647,579        $547,318.35      0
--------------------------------------------------------------------------------------------------------------------
 171           1235 Elm Street                     Column         $525,000        $520,890        $349,128.68      0
--------------------------------------------------------------------------------------------------------------------
 116A          El Valle del Sol                    Column       $2,000,000      $1,990,887      $1,695,050.32      0
--------------------------------------------------------------------------------------------------------------------
 116B          El Valle de la Luna                 Column         $600,000        $597,266        $508,515.10      0
--------------------------------------------------------------------------------------------------------------------
 132A          San Juan Gardens                    Column       $1,177,000      $1,171,686        $998,716.20      0
--------------------------------------------------------------------------------------------------------------------
 132B          Friendly Village                    Column         $773,000        $769,510        $655,910.90      0
--------------------------------------------------------------------------------------------------------------------

<CAPTION>

                                                             Original       Remaining       Original     Remaining
                                                           Amortization   Amortization       Term to      Term to
  #    Crossed  Loan Name                                      Term           Term         Maturity(2)  Maturity(2)
-------------------------------------------------------------------------------------------------------------------
<S>    <C>         <C>                                         <C>            <C>             <C>              <C>
  144              Murphy Retail Center                        240            234             120              114
-------------------------------------------------------------------------------------------------------------------
  145              Anaheim Street Retail Center                300            296             120              116
-------------------------------------------------------------------------------------------------------------------
  146              Park Street Retail                          300            297             120              117
-------------------------------------------------------------------------------------------------------------------
  147              Sprinkle Ridge Apartments                   360            357             120              117
-------------------------------------------------------------------------------------------------------------------
  148              Melonie Square                              300            295             120              115
-------------------------------------------------------------------------------------------------------------------
  149              7000 North Freeway                          192            188             192              188
-------------------------------------------------------------------------------------------------------------------
  150              Sunny Isle Apartments                       300            294             120              114
-------------------------------------------------------------------------------------------------------------------
  151              Nichols Station I Apartments                360            354             120              114
-------------------------------------------------------------------------------------------------------------------
  152              Biddeford Apartments                        360            356             120              116
-------------------------------------------------------------------------------------------------------------------
  153              Mount Vernon Apartments                     300            297             120              117
-------------------------------------------------------------------------------------------------------------------
                   Cambridge Estates Apts (Phase
  154              III)                                        180            178             180              178
-------------------------------------------------------------------------------------------------------------------
  155              South Ynez Apartments                       300            295             120              115
-------------------------------------------------------------------------------------------------------------------
                   Colorado Square / Medlin Place
  156              Apartments                                  300            295              60               55
-------------------------------------------------------------------------------------------------------------------
  157              Country Oaks Mobile Home Park               300            298              84               82
-------------------------------------------------------------------------------------------------------------------
  158              Greenville Retail Center                    240            234             120              114
-------------------------------------------------------------------------------------------------------------------
  159              Cliffview Crossing                          300            296             120              116
-------------------------------------------------------------------------------------------------------------------
  160              Grove Apartments                            300            295             120              115
-------------------------------------------------------------------------------------------------------------------
  161              Greentree Apartments                        180            176             180              176
-------------------------------------------------------------------------------------------------------------------
  162              Coachlite Apartments                        360            358             120              118
-------------------------------------------------------------------------------------------------------------------
  163              Northgate Terrace I Apartments              300            295             120              115
-------------------------------------------------------------------------------------------------------------------
  164              150 Broad Street                            300            297             120              117
-------------------------------------------------------------------------------------------------------------------
  165              Sunset Avenue Apartments                    360            355             120              115
-------------------------------------------------------------------------------------------------------------------
  166              Classic Village                             300            296             120              116
-------------------------------------------------------------------------------------------------------------------
  167              Knox Landing Apartments                     300            297             120              117
-------------------------------------------------------------------------------------------------------------------
  168              1013 West Linden Street                     300            296             120              116
-------------------------------------------------------------------------------------------------------------------
  169              Ledgewood Mobile Home Park                  300            296             120              116
-------------------------------------------------------------------------------------------------------------------
  170              83 Elizabeth Street                         360            356             120              116
-------------------------------------------------------------------------------------------------------------------
  171              1235 Elm Street                             240            236             120              116
-------------------------------------------------------------------------------------------------------------------
 116A              El Valle del Sol                            360            355             120              115
-------------------------------------------------------------------------------------------------------------------
 116B              El Valle de la Luna                         360            355             120              115
-------------------------------------------------------------------------------------------------------------------
 132A              San Juan Gardens                            360            355             120              115
-------------------------------------------------------------------------------------------------------------------
 132B              Friendly Village                            360            355             120              115
-------------------------------------------------------------------------------------------------------------------

                                                       B-1-4
</TABLE>

<PAGE>

<TABLE>
<CAPTION>

                                                                Interest
                                                 Mortgage      Calculation                   First
                                                 Interest       (30/360 /       Monthly     Payment      Maturity
  #   Crossed  Loan Name                           Rate        Actual/360)      Payment       Date         Date
--------------------------------------------------------------------------------------------------------------------
<S>   <C>      <C>                                <C>       <C>               <C>          <C>          <C>
  1            Circle Centre Mall                 5.020%    Actual/360        $430,435.68  5/11/2003    4/11/2013
--------------------------------------------------------------------------------------------------------------------
  2            Wanamaker Building - Office        5.380%    Actual/360        $364,183.94  7/11/2003    6/11/2013
--------------------------------------------------------------------------------------------------------------------
  4     (A)    Mira Mesa Market Center West       5.760%    Actual/360        $201,551.85  7/11/2003    6/11/2013
--------------------------------------------------------------------------------------------------------------------
  5     (A)    Mira Mesa Market Center East       5.760%    Actual/360        $166,499.36  7/11/2003    6/11/2013
--------------------------------------------------------------------------------------------------------------------
  6     (B)    PCCP - Commerce Centre             4.990%    Actual/360        $162,319.39  9/11/2003    8/11/2008
--------------------------------------------------------------------------------------------------------------------
  7     (B)    PCCP - Paramount Distribution
               Center                             4.990%    Actual/360         $40,474.44  9/11/2003    8/11/2008
--------------------------------------------------------------------------------------------------------------------
  8     (B)    PCCP - 301 Walnut                  4.990%    Actual/360         $26,982.96  9/11/2003    8/11/2008
--------------------------------------------------------------------------------------------------------------------
 9A            Mayfair Mall - Retail              3.108%    Actual/360        $159,607.63  8/11/2003    7/11/2008
--------------------------------------------------------------------------------------------------------------------
 9B            Mayfair Mall - Office Complex      3.108%    Actual/360         $43,431.62  8/11/2003    7/11/2008
--------------------------------------------------------------------------------------------------------------------
 10            540 Madison Avenue                 4.880%    Actual/360        $218,120.40  8/11/2003    7/11/2033
--------------------------------------------------------------------------------------------------------------------
 11            Town & Country Apartments -
               Urbana                             5.030%    Actual/360        $135,741.46  5/11/2003    4/11/2013
--------------------------------------------------------------------------------------------------------------------
 16     (C)    Red Lion Hotel Port Angeles        6.700%    Actual/360         $62,585.93  8/11/2003    7/11/2013
--------------------------------------------------------------------------------------------------------------------
 17     (C)    Red Lion Hotel Yakima Center       6.700%    Actual/360         $35,075.63  8/11/2003    7/11/2013
--------------------------------------------------------------------------------------------------------------------
 18     (C)    Red Lion Hotel Eureka              6.700%    Actual/360         $20,632.72  8/11/2003    7/11/2013
--------------------------------------------------------------------------------------------------------------------
 19     (C)    Red Lion Hotel Twin Falls          6.700%    Actual/360         $20,632.72  8/11/2003    7/11/2013
--------------------------------------------------------------------------------------------------------------------
 20     (C)    Red Lion Hotel Kennewick           6.700%    Actual/360         $17,193.94  8/11/2003    7/11/2013
--------------------------------------------------------------------------------------------------------------------
 21            Arlington & Bradley Office
               Center                             5.930%    Actual/360        $124,248.01  5/11/2003    4/11/2013
--------------------------------------------------------------------------------------------------------------------
 23            780 James P. Casey Road            5.790%    Actual/360        $117,223.28  8/11/2003    7/11/2008
--------------------------------------------------------------------------------------------------------------------
 24            800 Apollo                         6.200%    Actual/360        $121,268.86  1/11/2003    12/11/2032
--------------------------------------------------------------------------------------------------------------------
 25            Regent Industrial Center           5.400%    Actual/360        $103,883.20  4/11/2003    3/11/2013
--------------------------------------------------------------------------------------------------------------------
 26            Sarasota Gateway                   5.500%    Actual/360         $91,697.92  7/11/2003    6/11/2013
--------------------------------------------------------------------------------------------------------------------
 27            Bristol Farms Apartments           5.630%    Actual/360         $92,299.53  5/11/2003    5/11/2008
--------------------------------------------------------------------------------------------------------------------
 28            Country View Mobile Home Park      5.440%    Actual/360         $90,780.66  7/11/2003    6/11/2013
--------------------------------------------------------------------------------------------------------------------
 29            University Commons                 6.550%    Actual/360         $92,397.21  5/11/2003    4/11/2013
--------------------------------------------------------------------------------------------------------------------
 30            Princeton Square Apartments        5.060%    Actual/360         $77,669.07  7/11/2003    6/11/2013
--------------------------------------------------------------------------------------------------------------------
 31            Burlington Center Mall             5.780%    Actual/360         $81,967.21  7/11/2003    6/11/2013
--------------------------------------------------------------------------------------------------------------------
 32            Club at Tranquility Lake           6.000%    Actual/360         $83,937.07  4/11/2003    3/11/2010
--------------------------------------------------------------------------------------------------------------------
 33            Warner Center Business Park        6.010%    Actual/360         $82,826.72  3/11/2003    2/11/2013
--------------------------------------------------------------------------------------------------------------------
 34            Expressway Mall                    5.770%    Actual/360         $73,106.00  5/11/2003    4/11/2013
--------------------------------------------------------------------------------------------------------------------
 35            Airline Shopping Center            5.400%    Actual/360         $67,383.70  7/11/2003    6/11/2013
--------------------------------------------------------------------------------------------------------------------
 36            Windward Village Shopping
               Center                             5.670%    Actual/360         $66,527.58  6/11/2003    5/11/2013
--------------------------------------------------------------------------------------------------------------------
 37            Playa Blanca Apartments            5.320%    Actual/360         $61,220.20  8/11/2003    7/11/2013
--------------------------------------------------------------------------------------------------------------------
 38            Torrey View Corporate Center       5.760%    Actual/360         $69,268.19  5/11/2003    4/11/2013
--------------------------------------------------------------------------------------------------------------------
 41            The Moorings Apartments            5.690%    Actual/360         $60,875.52  5/11/2003    4/11/2013
--------------------------------------------------------------------------------------------------------------------
 42            5th & Lamar Retail/Office
               Development                        6.710%    Actual/360         $64,271.17  7/11/2003    6/11/2018
--------------------------------------------------------------------------------------------------------------------
 43            American Village on the Lake
               Apartments                         5.200%    Actual/360         $54,636.53  7/11/2003    6/11/2013
--------------------------------------------------------------------------------------------------------------------
 44            Ryan's Pointe Apartments           5.810%    Actual/360         $57,564.22  2/11/2003    1/11/2013
--------------------------------------------------------------------------------------------------------------------
 45            Cleveland Street Square            5.860%    Actual/360         $57,581.49  5/11/2003    4/11/2033
--------------------------------------------------------------------------------------------------------------------
 47            Rivermont Apartments               5.500%    Actual/360         $44,146.41  3/11/2003    2/11/2008
--------------------------------------------------------------------------------------------------------------------
 50            Westover Gallery Shopping
               Center                             5.500%    Actual/360         $46,700.65  7/11/2003    6/11/2013
--------------------------------------------------------------------------------------------------------------------
 53            Trestles of Houston Apartments     6.367%    Actual/360         $47,511.49  2/11/2003    1/11/2013
--------------------------------------------------------------------------------------------------------------------
 54            Pemstar, Inc. Headquarters         6.360%    Actual/360         $55,301.54  5/11/2003    4/11/2023
--------------------------------------------------------------------------------------------------------------------
 56            Riverbend Apartments               5.740%    Actual/360         $39,639.77  5/11/2003    4/11/2013
--------------------------------------------------------------------------------------------------------------------
 57            D'Adrian Meadows Apartments        5.400%    Actual/360         $37,734.87  4/11/2003    3/11/2013
--------------------------------------------------------------------------------------------------------------------
 58            Park Place                         5.570%    Actual/360         $37,192.26  7/11/2003    6/11/2033
--------------------------------------------------------------------------------------------------------------------
 59            Millstone Lakes Apartments         5.240%    Actual/360         $34,198.24  6/11/2003    5/11/2013
--------------------------------------------------------------------------------------------------------------------
 61            Aspen Woods                        5.970%    Actual/360         $36,455.01  2/11/2003    1/11/2008
--------------------------------------------------------------------------------------------------------------------
 62            Iliff Commons Shopping Center      5.620%    Actual/360         $34,520.45  5/11/2003    4/11/2013
--------------------------------------------------------------------------------------------------------------------
 63            Atlantic Boulevard Shopping
               Center                             5.750%    Actual/360         $33,263.65  8/11/2003    7/11/2013
--------------------------------------------------------------------------------------------------------------------
 64            Shoppes at Brandon Farms           5.700%    Actual/360         $32,212.22  5/11/2003    4/11/2013
--------------------------------------------------------------------------------------------------------------------
 65            Court Street Plaza Shopping
               Center                             5.900%    Actual/360         $32,622.51  5/11/2003    4/11/2013
--------------------------------------------------------------------------------------------------------------------

<CAPTION>

                                                                                                          Servicing
                                                             Prepayment                        Yield          and
                                                            Provision as     Defeasance     Maintenance     Trustee
  #   Crossed  Loan Name                        ARD (8)   of Origination (9) Option (10)      Spread         Fees
--------------------------------------------------------------------------------------------------------------------
<S>   <C>      <C>                             <C>        <C>                  <C>             <C>          <C>
  1            Circle Centre Mall                 N/A     Lock/113_0.0%/7      Yes             N/A          0.0318%
--------------------------------------------------------------------------------------------------------------------
  2            Wanamaker Building - Office        N/A     Lock/116_0.0%/4      Yes             N/A          0.0318%
--------------------------------------------------------------------------------------------------------------------
  4     (A)    Mira Mesa Market Center West       N/A     Lock/117_0.0%/3      Yes             N/A          0.0318%
--------------------------------------------------------------------------------------------------------------------
  5     (A)    Mira Mesa Market Center East       N/A     Lock/117_0.0%/3      Yes             N/A          0.0318%
--------------------------------------------------------------------------------------------------------------------
  6     (B)    PCCP - Commerce Centre             N/A     Lock/56_0.0%/4       Yes             N/A          0.0318%
--------------------------------------------------------------------------------------------------------------------
  7     (B)    PCCP - Paramount Distribution
               Center                             N/A     Lock/56_0.0%/4       Yes             N/A          0.0318%
--------------------------------------------------------------------------------------------------------------------
  8     (B)    PCCP - 301 Walnut                  N/A     Lock/56_0.0%/4       Yes             N/A          0.0318%
--------------------------------------------------------------------------------------------------------------------
 9A            Mayfair Mall - Retail              N/A     Lock/56_0.0%/4       Yes             N/A          0.0318%
--------------------------------------------------------------------------------------------------------------------
 9B            Mayfair Mall - Office Complex      N/A     Lock/56_0.0%/4       Yes             N/A          0.0318%
--------------------------------------------------------------------------------------------------------------------
 10            540 Madison Avenue              7/11/2013  Lock/116_0.0%/4      Yes             N/A          0.0318%
--------------------------------------------------------------------------------------------------------------------
 11            Town & Country Apartments -
               Urbana                             N/A     Lock/117_0.0%/3      Yes             N/A          0.0318%
--------------------------------------------------------------------------------------------------------------------
 16     (C)    Red Lion Hotel Port Angeles        N/A     Lock/117_0.0%/3      Yes             N/A          0.0318%
--------------------------------------------------------------------------------------------------------------------
 17     (C)    Red Lion Hotel Yakima Center       N/A     Lock/117_0.0%/3      Yes             N/A          0.0318%
--------------------------------------------------------------------------------------------------------------------
 18     (C)    Red Lion Hotel Eureka              N/A     Lock/117_0.0%/3      Yes             N/A          0.0318%
--------------------------------------------------------------------------------------------------------------------
 19     (C)    Red Lion Hotel Twin Falls          N/A     Lock/117_0.0%/3      Yes             N/A          0.0318%
--------------------------------------------------------------------------------------------------------------------
 20     (C)    Red Lion Hotel Kennewick           N/A     Lock/117_0.0%/3      Yes             N/A          0.0318%
--------------------------------------------------------------------------------------------------------------------
 21            Arlington & Bradley Office
               Center                             N/A     Lock/41_YM1/72_0.0%/7No              T-Flat       0.0318%
--------------------------------------------------------------------------------------------------------------------
 23            780 James P. Casey Road            N/A     Lock/36_0.0%/24      Yes             N/A          0.0318%
--------------------------------------------------------------------------------------------------------------------
 24            800 Apollo                      12/11/2012 Lock/116_0.0%/4      Yes             N/A          0.0318%
--------------------------------------------------------------------------------------------------------------------
 25            Regent Industrial Center           N/A     Lock/117_0.0%/3      Yes             N/A          0.0318%
--------------------------------------------------------------------------------------------------------------------
 26            Sarasota Gateway                   N/A     Lock/117_0.0%/3      Yes             N/A          0.0318%
--------------------------------------------------------------------------------------------------------------------
 27            Bristol Farms Apartments           N/A     Lock/57_0.0%/4       Yes             N/A          0.0318%
--------------------------------------------------------------------------------------------------------------------
 28            Country View Mobile Home Park      N/A     Lock/117_0.0%/3      Yes             N/A          0.0318%
--------------------------------------------------------------------------------------------------------------------
 29            University Commons                 N/A     Lock/114_0.0%/6      Yes             N/A          0.0618%
--------------------------------------------------------------------------------------------------------------------
 30            Princeton Square Apartments        N/A     Lock/117_0.0%/3      Yes             N/A          0.0318%
--------------------------------------------------------------------------------------------------------------------
 31            Burlington Center Mall             N/A     Lock/117_0.0%/3      Yes             N/A          0.0618%
--------------------------------------------------------------------------------------------------------------------
 32            Club at Tranquility Lake           N/A     Lock/78_0.0%/6       Yes             N/A          0.0618%
--------------------------------------------------------------------------------------------------------------------
 33            Warner Center Business Park        N/A     Lock/117_0.0%/3      Yes             N/A          0.0318%
--------------------------------------------------------------------------------------------------------------------
 34            Expressway Mall                    N/A     Lock/116_0.0%/4      Yes             N/A          0.0318%
--------------------------------------------------------------------------------------------------------------------
 35            Airline Shopping Center            N/A     Lock/117_0.0%/3      Yes             N/A          0.0318%
--------------------------------------------------------------------------------------------------------------------
 36            Windward Village Shopping
               Center                             N/A     Lock/117_0.0%/3      Yes             N/A          0.0318%
--------------------------------------------------------------------------------------------------------------------
 37            Playa Blanca Apartments            N/A     Lock/117_0.0%/3      Yes             N/A          0.0318%
--------------------------------------------------------------------------------------------------------------------
 38            Torrey View Corporate Center       N/A     Lock/117_0.0%/3      Yes             N/A          0.0318%
--------------------------------------------------------------------------------------------------------------------
 41            The Moorings Apartments            N/A     Lock/114_0.0%/6      Yes             N/A          0.0318%
--------------------------------------------------------------------------------------------------------------------
 42            5th & Lamar Retail/Office
               Development                        N/A     Lock/177_0.0%/3      Yes             N/A          0.0318%
--------------------------------------------------------------------------------------------------------------------
 43            American Village on the Lake
               Apartments                         N/A     Lock/117_0.0%/3      Yes             N/A          0.0318%
--------------------------------------------------------------------------------------------------------------------
 44            Ryan's Pointe Apartments           N/A     Lock/117_0.0%/3      Yes             N/A          0.0318%
--------------------------------------------------------------------------------------------------------------------
 45            Cleveland Street Square         4/11/2013  Lock/117_0.0%/3      Yes             N/A          0.0318%
--------------------------------------------------------------------------------------------------------------------
 47            Rivermont Apartments               N/A     Lock/57_0.0%/3       Yes             N/A          0.0318%
--------------------------------------------------------------------------------------------------------------------
 50            Westover Gallery Shopping
               Center                             N/A     Lock/117_0.0%/3      Yes             N/A          0.0318%
--------------------------------------------------------------------------------------------------------------------
 53            Trestles of Houston Apartments     N/A     Lock/117_0.0%/3      Yes             N/A          0.0318%
--------------------------------------------------------------------------------------------------------------------
 54            Pemstar, Inc. Headquarters         N/A     Lock/236_0.0%/4      Yes             N/A          0.0318%
--------------------------------------------------------------------------------------------------------------------
 56            Riverbend Apartments               N/A     Lock/117_0.0%/3      Yes             N/A          0.0318%
--------------------------------------------------------------------------------------------------------------------
 57            D'Adrian Meadows Apartments        N/A     Lock/117_0.0%/3      Yes             N/A          0.0318%
--------------------------------------------------------------------------------------------------------------------
 58            Park Place                      6/11/2010  Lock/81_0.0%/3       Yes             N/A          0.0318%
--------------------------------------------------------------------------------------------------------------------
 59            Millstone Lakes Apartments         N/A     Lock/117_0.0%/3      Yes             N/A          0.0318%
--------------------------------------------------------------------------------------------------------------------
 61            Aspen Woods                        N/A     Lock/54_0.0%/6       Yes             N/A          0.0318%
--------------------------------------------------------------------------------------------------------------------
 62            Iliff Commons Shopping Center      N/A     Lock/117_0.0%/3      Yes             N/A          0.0318%
--------------------------------------------------------------------------------------------------------------------
 63            Atlantic Boulevard Shopping
               Center                             N/A     Lock/117_0.0%/3      Yes             N/A          0.0318%
--------------------------------------------------------------------------------------------------------------------
 64            Shoppes at Brandon Farms           N/A     Lock/116_0.0%/4      Yes             N/A          0.0318%
--------------------------------------------------------------------------------------------------------------------
 65            Court Street Plaza Shopping
               Center                             N/A     Lock/117_0.0%/3      Yes             N/A          0.0318%
--------------------------------------------------------------------------------------------------------------------

<CAPTION>

                                                             Contractual
                                               Engineering    Recurring     LC & TI    Contractual  Tax &      Initial
                                               Reserve at    Replacement   Reserve at   Recurring Insurance     Other
  #   Crossed  Loan Name                       Origination   Reserve/FF&E  Origination  LC & TI    Escrows     Reserve
-----------------------------------------------------------------------------------------------------------------------
<S>   <C>      <C>                             <C>           <C>         <C>          <C>             <C>   <C>
  1            Circle Centre Mall                    $0.00         $0.00         $0         $0.00     None        $0.00
-----------------------------------------------------------------------------------------------------------------------
  2            Wanamaker Building - Office      $60,875.00   $184,985.88         $0   $243,402.48     Both        $0.00
-----------------------------------------------------------------------------------------------------------------------
  4     (A)    Mira Mesa Market Center West          $0.00         $0.00         $0         $0.00     None        $0.00
-----------------------------------------------------------------------------------------------------------------------
  5     (A)    Mira Mesa Market Center East          $0.00         $0.00         $0         $0.00     None        $0.00
-----------------------------------------------------------------------------------------------------------------------
  6     (B)    PCCP - Commerce Centre           $12,500.00    $88,600.00 $1,152,500    $78,000.00     Both        $0.00
-----------------------------------------------------------------------------------------------------------------------
  7     (B)    PCCP - Paramount Distribution
               Center                          $422,000.00    $26,356.00    $28,500    $22,800.00     Both        $0.00
-----------------------------------------------------------------------------------------------------------------------
  8     (B)    PCCP - 301 Walnut               $435,187.00    $21,531.00    $24,000    $19,200.00     Both  $470,232.00
-----------------------------------------------------------------------------------------------------------------------
 9A            Mayfair Mall - Retail                 $0.00         $0.00         $0         $0.00     None        $0.00
-----------------------------------------------------------------------------------------------------------------------
 9B            Mayfair Mall - Office Complex         $0.00         $0.00         $0         $0.00     None        $0.00
-----------------------------------------------------------------------------------------------------------------------
 10            540 Madison Avenue                    $0.00         $0.00         $0         $0.00     None  $186,050.00
-----------------------------------------------------------------------------------------------------------------------
 11            Town & Country Apartments -
               Urbana                           $14,590.00   $154,500.00         $0         $0.00     Both        $0.00
-----------------------------------------------------------------------------------------------------------------------
 16     (C)    Red Lion Hotel Port Angeles      $80,913.00         $0.00         $0         $0.00     Both   $84,387.50
-----------------------------------------------------------------------------------------------------------------------
 17     (C)    Red Lion Hotel Yakima Center     $50,075.00         $0.00         $0         $0.00     Both   $18,725.00
-----------------------------------------------------------------------------------------------------------------------
 18     (C)    Red Lion Hotel Eureka            $24,375.00         $0.00         $0         $0.00     Both   $29,250.00
-----------------------------------------------------------------------------------------------------------------------
 19     (C)    Red Lion Hotel Twin Falls        $29,813.00         $0.00         $0         $0.00     Both        $0.00
-----------------------------------------------------------------------------------------------------------------------
 20     (C)    Red Lion Hotel Kennewick         $41,250.00         $0.00         $0         $0.00     Both   $27,375.00
-----------------------------------------------------------------------------------------------------------------------
 21            Arlington & Bradley Office
               Center                           $16,129.00    $22,704.00         $0    $80,004.00     Both        $0.00
-----------------------------------------------------------------------------------------------------------------------
 23            780 James P. Casey Road         $436,312.00  $420,333.00          $0   $174,999.96     Both   $70,000.00
-----------------------------------------------------------------------------------------------------------------------
 24            800 Apollo                       $62,763.00   $43,370.00  $1,000,000   $500,000.00     Both        $0.00
-----------------------------------------------------------------------------------------------------------------------
 25            Regent Industrial Center          $4,500.00        $0.00    $300,000   $144,000.00     Both        $0.00
-----------------------------------------------------------------------------------------------------------------------
 26            Sarasota Gateway                      $0.00  $19,812.96           $0   $132,086.04     Both        $0.00
-----------------------------------------------------------------------------------------------------------------------
 27            Bristol Farms Apartments          $2,500.00  $48,250.00           $0         $0.00     Both  $500,000.00
-----------------------------------------------------------------------------------------------------------------------
 28            Country View Mobile Home Park     $4,375.00       $0.00           $0         $0.00     Both        $0.00
-----------------------------------------------------------------------------------------------------------------------
 29            University Commons                $8,812.00 $176,400.00           $0         $0.00     Both        $0.00
-----------------------------------------------------------------------------------------------------------------------
 30            Princeton Square Apartments      $22,500.00  $72,000.00           $0         $0.00     Both  $227,750.00
-----------------------------------------------------------------------------------------------------------------------
 31            Burlington Center Mall           $87,450.00  $36,300.00           $0    $50,000.00     Both        $0.00
-----------------------------------------------------------------------------------------------------------------------
 32            Club at Tranquility Lake              $0.00  $53,000.00           $0         $0.00     Both        $0.00
-----------------------------------------------------------------------------------------------------------------------
 33            Warner Center Business Park       $5,750.00  $18,297.00           $0    $75,000.00     Both  $441,925.00
-----------------------------------------------------------------------------------------------------------------------
 34            Expressway Mall                  $17,000.00  $22,200.00     $200,000    $88,812.00     Both        $0.00
-----------------------------------------------------------------------------------------------------------------------
 35            Airline Shopping Center               $0.00   $7,697.04           $0     $9,999.96     Both        $0.00
-----------------------------------------------------------------------------------------------------------------------
 36            Windward Village Shopping
               Center                                $0.00   $8,400.00           $0    $30,168.00     Both        $0.00
-----------------------------------------------------------------------------------------------------------------------
 37            Playa Blanca Apartments          $44,829.00  $40,250.00           $0         $0.00     Both   $40,000.00
-----------------------------------------------------------------------------------------------------------------------
 38            Torrey View Corporate Center          $0.00  $10,768.20           $0         $0.00     Both        $0.00
-----------------------------------------------------------------------------------------------------------------------
 41            The Moorings Apartments               $0.00  $50,250.00           $0         $0.00     Both        $0.00
-----------------------------------------------------------------------------------------------------------------------
 42            5th & Lamar Retail/Office
               Development                           $0.00  $11,095.20     $100,000    $30,000.00   Insurance     $0.00
-----------------------------------------------------------------------------------------------------------------------
 43            American Village on the Lake
               Apartments                            $0.00 $116,000.04           $0         $0.00     Both   $48,000.00
-----------------------------------------------------------------------------------------------------------------------
 44            Ryan's Pointe Apartments         $51,125.00  $69,999.96           $0         $0.00     Both        $0.00
-----------------------------------------------------------------------------------------------------------------------
 45            Cleveland Street Square               $0.00  $10,706.04     $300,000         $0.00     Both        $0.00
-----------------------------------------------------------------------------------------------------------------------
 47            Rivermont Apartments             $12,500.00  $50,000.04           $0         $0.00     Both  $100,000.00
-----------------------------------------------------------------------------------------------------------------------
 50            Westover Gallery Shopping
               Center                                $0.00       $0.00           $0    $50,004.00     Both        $0.00
-----------------------------------------------------------------------------------------------------------------------
 53            Trestles of Houston Apartments   $31,250.00  $67,999.92           $0         $0.00     Both        $0.00
-----------------------------------------------------------------------------------------------------------------------
 54            Pemstar, Inc. Headquarters            $0.00       $0.00     $639,000         $0.00     None        $0.00
-----------------------------------------------------------------------------------------------------------------------
 56            Riverbend Apartments                  $0.00  $27,199.92           $0         $0.00     Both        $0.00
-----------------------------------------------------------------------------------------------------------------------
 57            D'Adrian Meadows Apartments      $123,750.00 $58,008.00           $0         $0.00     Both    $5,400.00
-----------------------------------------------------------------------------------------------------------------------
 58            Park Place                        $14,175.00       $0.00          $0    $50,400.00     Both        $0.00
-----------------------------------------------------------------------------------------------------------------------
 59            Millstone Lakes Apartments             $0.00  $36,000.00          $0         $0.00     Both        $0.00
-----------------------------------------------------------------------------------------------------------------------
 61            Aspen Woods                      $159,250.00 $57,000.00           $0         $0.00     Both        $0.00
-----------------------------------------------------------------------------------------------------------------------
 62            Iliff Commons Shopping Center          $0.00       $0.00          $0         $0.00     Both        $0.00
-----------------------------------------------------------------------------------------------------------------------
 63            Atlantic Boulevard Shopping
               Center                                 $0.00       $0.00     $30,000    $60,000.00     Both        $0.00
-----------------------------------------------------------------------------------------------------------------------
 64            Shoppes at Brandon Farms               $0.00   $8,459.16          $0    $18,000.00     Both        $0.00
-----------------------------------------------------------------------------------------------------------------------
 65            Court Street Plaza Shopping
               Center                            $55,250.00  $17,554.56          $0         $0.00     Both        $0.00
-----------------------------------------------------------------------------------------------------------------------

                                                       B-1-5
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
                                                 Mortgage                                   First
                                                 Interest Interest Calculation  Monthly    Payment       Maturity
 #   Crossed   Loan Name                           Rate   (30/360 / Actual/360) Payment      Date          Date
--------------------------------------------------------------------------------------------------------------------
<S>  <C>       <C>                                <C>       <C>                <C>         <C>          <C>
 67            300 Alexander Park                 5.870%    Actual/360         $31,038.96  5/11/2003    4/11/2013
--------------------------------------------------------------------------------------------------------------------
 68            4861 & 4891 Telsa Drive            5.750%    Actual/360         $30,579.22  4/11/2003    3/11/2013
--------------------------------------------------------------------------------------------------------------------
 69            Longview Meadow Apartments         5.660%    Actual/360         $30,049.14  6/11/2003    5/11/2013
--------------------------------------------------------------------------------------------------------------------
 70            8501 LaSalle Road                  5.750%    Actual/360         $30,345.79  5/11/2003    4/11/2013
--------------------------------------------------------------------------------------------------------------------
 71            Trestles of Baytown Apartments     6.435%    Actual/360         $32,684.80  2/11/2003    1/11/2013
--------------------------------------------------------------------------------------------------------------------
 72            Santa Fe Place Apartments          5.400%    Actual/360         $31,318.69  6/11/2003    5/11/2013
--------------------------------------------------------------------------------------------------------------------
 73            Plumtree Professional Center       5.680%    Actual/360         $29,246.25  4/11/2003    3/11/2013
--------------------------------------------------------------------------------------------------------------------
 75            Canyon Woods Apartments            5.340%    Actual/360         $27,331.77  7/11/2003    6/11/2013
--------------------------------------------------------------------------------------------------------------------
 76            Grove Street                       5.970%    Actual/360         $31,480.97  7/11/2003    6/11/2013
--------------------------------------------------------------------------------------------------------------------
 78            Ashley Park Apartments             6.260%    Actual/360         $29,893.83  2/11/2003    1/11/2013
--------------------------------------------------------------------------------------------------------------------
 79            Rosemont Retail Center             5.830%    Actual/360         $28,020.45  6/11/2003    5/11/2013
--------------------------------------------------------------------------------------------------------------------
 81            Cardinal Shopping Center           5.500%    Actual/360         $26,345.41  7/11/2003    6/11/2013
--------------------------------------------------------------------------------------------------------------------
 82            Grogan's Mill Village Center       6.040%    Actual/360         $27,246.14  4/11/2003    3/11/2013
--------------------------------------------------------------------------------------------------------------------
 83            Atlas Valley Shopping Center       6.200%    Actual/360         $26,642.40  4/11/2003    3/11/2013
--------------------------------------------------------------------------------------------------------------------
 84            Heights Garden Apartments          5.580%    Actual/360         $24,745.76  5/11/2003    4/11/2013
--------------------------------------------------------------------------------------------------------------------
 85            Radnor Towers Apartments           5.700%    Actual/360         $24,667.02  8/11/2003    7/11/2013
--------------------------------------------------------------------------------------------------------------------
 87            10 Canebrake Boulevard             5.800%    Actual/360         $24,203.56  8/11/2003    7/11/2013
--------------------------------------------------------------------------------------------------------------------
 88            The Forest Apartments              6.140%    Actual/360         $24,647.53  3/11/2003    2/11/2013
--------------------------------------------------------------------------------------------------------------------
 89            Gristedes - 3rd Ave. and 36th
               Street                             5.390%    Actual/360         $22,436.27  8/11/2003    7/11/2013
--------------------------------------------------------------------------------------------------------------------
 90            111 & 121 Roberts Street           5.870%    Actual/360         $25,136.94  4/11/2003    3/11/2013
--------------------------------------------------------------------------------------------------------------------
 91            Richland Village Shopping
               Center                             6.180%    Actual/360         $22,613.36  4/11/2003    3/11/2013
--------------------------------------------------------------------------------------------------------------------
 92            Pacific West Apartments            5.730%    Actual/360         $21,545.21  4/11/2003    3/11/2013
--------------------------------------------------------------------------------------------------------------------
 93            Atrium Medical Office Building     5.630%    Actual/360         $21,310.97  2/11/2003    1/11/2013
--------------------------------------------------------------------------------------------------------------------
 94            Wingate Inn Fayetteville           6.510%    Actual/360         $24,329.96  7/11/2003    6/11/2013
--------------------------------------------------------------------------------------------------------------------
 95            Millside Building                  6.040%    Actual/360         $21,525.96  4/11/2003    3/11/2013
--------------------------------------------------------------------------------------------------------------------
 100           Market at Southern Pines           5.580%    Actual/360         $19,132.14  7/11/2003    6/11/2013
--------------------------------------------------------------------------------------------------------------------
 101           Palm Shadows MH & RV Park          5.750%    Actual/360         $18,966.12  6/11/2003    5/11/2013
--------------------------------------------------------------------------------------------------------------------
 103           Anderson Oaks Mobile Home Park     5.890%    Actual/360         $18,959.90  7/11/2003    6/11/2013
--------------------------------------------------------------------------------------------------------------------
 108           Magic Valley Park                  5.800%    Actual/360         $17,015.84  6/11/2003    5/11/2013
--------------------------------------------------------------------------------------------------------------------
 109           River Park Apartments              5.480%    Actual/360         $16,287.88  5/11/2003    4/11/2013
--------------------------------------------------------------------------------------------------------------------
 110           Portway Plaza Office Building      5.750%    Actual/360         $16,631.83  4/11/2003    3/11/2013
--------------------------------------------------------------------------------------------------------------------
 111           Marigold Apartments                5.500%    Actual/360         $15,898.09  5/11/2003    4/11/2013
--------------------------------------------------------------------------------------------------------------------
 112           Carlton Apartments                 6.100%    Actual/360         $16,967.85  1/11/2003    12/11/2012
--------------------------------------------------------------------------------------------------------------------
 113    (D)    Ramey's Mobile Home Park           6.140%    Actual/360         $12,172.12  6/11/2003    5/11/2013
--------------------------------------------------------------------------------------------------------------------
 114    (D)    Bexley Mobile Home Park            6.140%    Actual/360          $7,998.82  6/11/2003    5/11/2013
--------------------------------------------------------------------------------------------------------------------
 117           Lincoln Professional Plaza         5.650%    Actual/360         $14,719.51  6/11/2003    5/11/2013
--------------------------------------------------------------------------------------------------------------------
 118           Santa Grande Mobile Home Park      5.800%    Actual/360         $14,815.51  4/11/2003    3/11/2013
--------------------------------------------------------------------------------------------------------------------
 119           301 N. Brand Blvd.                 6.530%    Actual/360         $15,851.06  4/11/2003    3/11/2013
--------------------------------------------------------------------------------------------------------------------
 120           Tropicana Del Este Apartments      5.750%    Actual/360         $14,443.43  5/11/2003    4/11/2013
--------------------------------------------------------------------------------------------------------------------
 123           Sundance Village MHP               5.880%    Actual/360         $14,969.17  6/11/2003    5/11/2013
--------------------------------------------------------------------------------------------------------------------
 124           University Plaza                   5.690%    Actual/360         $13,450.59  6/11/2003    5/11/2013
--------------------------------------------------------------------------------------------------------------------
 125           Campbell Station Shopping
               Center                             6.010%    Actual/360         $13,954.50  3/11/2003    2/11/2013
--------------------------------------------------------------------------------------------------------------------
 126           Southwest Storage                  6.410%    Actual/360         $15,400.67  5/11/2003    4/11/2013
--------------------------------------------------------------------------------------------------------------------
 129           Greenbriar MHP                     5.880%    Actual/360         $13,376.71  6/11/2003    5/11/2013
--------------------------------------------------------------------------------------------------------------------
 130           Trafalgar Square Apartments        5.600%    Actual/360         $11,481.58  5/11/2003    4/11/2013
--------------------------------------------------------------------------------------------------------------------
 131           Queens Lane Apartments             5.730%    Actual/360         $11,646.06  6/11/2003    5/11/2013
--------------------------------------------------------------------------------------------------------------------
 133           327 East 52nd Street               5.700%    Actual/360         $12,020.90  7/11/2003    6/11/2013
--------------------------------------------------------------------------------------------------------------------
 134           Naples Place IV                    5.630%    Actual/360         $11,940.00  6/11/2003    5/11/2008
--------------------------------------------------------------------------------------------------------------------
 135           Park City Shopping Center          6.130%    Actual/360         $13,574.08  4/11/2003    3/11/2013
--------------------------------------------------------------------------------------------------------------------
 136           Kennesaw Promenade                 6.160%    Actual/360         $11,774.11  6/11/2003    5/11/2028
--------------------------------------------------------------------------------------------------------------------
 137           Lakewood Village - FL              5.500%    Actual/360         $14,707.50  7/11/2003    6/11/2018
--------------------------------------------------------------------------------------------------------------------
 139           2317-2335 Market Street            6.370%    Actual/360         $10,912.00  4/11/2003    3/11/2013
--------------------------------------------------------------------------------------------------------------------
 140           Gloucester Apartments              5.800%    Actual/360         $10,268.18  4/11/2003    3/11/2013
--------------------------------------------------------------------------------------------------------------------

<CAPTION>

                                                                                                           Servicing
                                                                              Defeasance      Yield           and
                                                         Prepayment Provision   Option     Maintenance      Trustee
 #   Crossed   Loan Name                         ARD(8)  as of Origination(9)    (10)        Spread          Fees
--------------------------------------------------------------------------------------------------------------------
<S>  <C>       <C>                                <C>     <C>                  <C>             <C>          <C>
 67            300 Alexander Park                 N/A     Lock/117_0.0%/3      Yes             N/A          0.0318%
--------------------------------------------------------------------------------------------------------------------
 68            4861 & 4891 Telsa Drive            N/A     Lock/117_0.0%/3      Yes             N/A          0.0618%
--------------------------------------------------------------------------------------------------------------------
 69            Longview Meadow Apartments         N/A     Lock/117_0.0%/3      Yes             N/A          0.0318%
--------------------------------------------------------------------------------------------------------------------
 70            8501 LaSalle Road                  N/A     Lock/117_0.0%/3      Yes             N/A          0.0318%
--------------------------------------------------------------------------------------------------------------------
 71            Trestles of Baytown Apartments     N/A     Lock/117_0.0%/3      Yes             N/A          0.0318%
--------------------------------------------------------------------------------------------------------------------
 72            Santa Fe Place Apartments          N/A     Lock/117_0.0%/3      Yes             N/A          0.0318%
--------------------------------------------------------------------------------------------------------------------
 73            Plumtree Professional Center       N/A     Lock/117_0.0%/3      Yes             N/A          0.0318%
--------------------------------------------------------------------------------------------------------------------
 75            Canyon Woods Apartments            N/A     Lock/117_0.0%/3      Yes             N/A          0.0318%
--------------------------------------------------------------------------------------------------------------------
 76            Grove Street                       N/A     Lock/117_0.0%/3      Yes             N/A          0.0318%
--------------------------------------------------------------------------------------------------------------------
 78            Ashley Park Apartments             N/A     Lock/117_0.0%/3      Yes             N/A          0.0318%
--------------------------------------------------------------------------------------------------------------------
 79            Rosemont Retail Center             N/A     Lock/117_0.0%/3      Yes             N/A          0.0318%
--------------------------------------------------------------------------------------------------------------------
 81            Cardinal Shopping Center           N/A     Lock/117_0.0%/3      Yes             N/A          0.0318%
--------------------------------------------------------------------------------------------------------------------
 82            Grogan's Mill Village Center       N/A     Lock/117_0.0%/3      Yes             N/A          0.1118%
--------------------------------------------------------------------------------------------------------------------
 83            Atlas Valley Shopping Center       N/A     Lock/42_YM1/75_0.0%/3No              T-Flat       0.0318%
--------------------------------------------------------------------------------------------------------------------
 84            Heights Garden Apartments          N/A     Lock/117_0.0%/3      Yes             N/A          0.0318%
--------------------------------------------------------------------------------------------------------------------
 85            Radnor Towers Apartments           N/A     Lock/117_0.0%/3      Yes             N/A          0.0318%
--------------------------------------------------------------------------------------------------------------------
 87            10 Canebrake Boulevard             N/A     Lock/117_0.0%/3      Yes             N/A          0.0318%
--------------------------------------------------------------------------------------------------------------------
 88            The Forest Apartments              N/A     Lock/117_0.0%/3      Yes             N/A          0.0318%
--------------------------------------------------------------------------------------------------------------------
 89            Gristedes - 3rd Ave. and 36th
               Street                             N/A     Lock/117_0.0%/3      Yes             N/A          0.0318%
--------------------------------------------------------------------------------------------------------------------
 90            111 & 121 Roberts Street           N/A     Lock/117_0.0%/3      Yes             N/A          0.0318%
--------------------------------------------------------------------------------------------------------------------
 91            Richland Village Shopping
               Center                             N/A     Lock/117_0.0%/3      Yes             N/A          0.0818%
--------------------------------------------------------------------------------------------------------------------
 92            Pacific West Apartments            N/A     Lock/117_0.0%/3      Yes             N/A          0.0318%
--------------------------------------------------------------------------------------------------------------------
 93            Atrium Medical Office Building     N/A     Lock/117_0.0%/3      Yes             N/A          0.0318%
--------------------------------------------------------------------------------------------------------------------
 94            Wingate Inn Fayetteville           N/A     Lock/116_0.0%/4      Yes             N/A          0.0318%
--------------------------------------------------------------------------------------------------------------------
 95            Millside Building                  N/A     Lock/117_0.0%/3      Yes             N/A          0.1118%
--------------------------------------------------------------------------------------------------------------------
 100           Market at Southern Pines           N/A     Lock/117_0.0%/3      Yes             N/A          0.0318%
--------------------------------------------------------------------------------------------------------------------
 101           Palm Shadows MH & RV Park          N/A     Lock/117_0.0%/3      Yes             N/A          0.0318%
--------------------------------------------------------------------------------------------------------------------
 103           Anderson Oaks Mobile Home Park     N/A     Lock/114_0.0%/6      Yes             N/A          0.0318%
--------------------------------------------------------------------------------------------------------------------
 108           Magic Valley Park                  N/A     Lock/117_0.0%/3      Yes             N/A          0.0318%
--------------------------------------------------------------------------------------------------------------------
 109           River Park Apartments              N/A     Lock/117_0.0%/3      Yes             N/A          0.0318%
--------------------------------------------------------------------------------------------------------------------
 110           Portway Plaza Office Building      N/A     Lock/117_0.0%/3      Yes             N/A          0.0318%
--------------------------------------------------------------------------------------------------------------------
 111           Marigold Apartments                N/A     Lock/117_0.0%/3      Yes             N/A          0.0318%
--------------------------------------------------------------------------------------------------------------------
 112           Carlton Apartments                 N/A     Lock/117_0.0%/3      Yes             N/A          0.0318%
--------------------------------------------------------------------------------------------------------------------
 113    (D)    Ramey's Mobile Home Park           N/A     Lock/114_0.0%/6      Yes             N/A          0.0318%
--------------------------------------------------------------------------------------------------------------------
 114    (D)    Bexley Mobile Home Park            N/A     Lock/114_0.0%/6      Yes             N/A          0.0318%
--------------------------------------------------------------------------------------------------------------------
 117           Lincoln Professional Plaza         N/A     Lock/40_YM1/77_0.0%/3No              T-Flat       0.0318%
--------------------------------------------------------------------------------------------------------------------
 118           Santa Grande Mobile Home Park      N/A     Lock/114_0.0%/6      Yes             N/A          0.0318%
--------------------------------------------------------------------------------------------------------------------
 119           301 N. Brand Blvd.                 N/A     Lock/114_0.0%/6      Yes             N/A          0.0318%
--------------------------------------------------------------------------------------------------------------------
 120           Tropicana Del Este Apartments      N/A     Lock/117_0.0%/3      Yes             N/A          0.0318%
--------------------------------------------------------------------------------------------------------------------
 123           Sundance Village MHP               N/A     Lock/114_0.0%/6      Yes             N/A          0.0318%
--------------------------------------------------------------------------------------------------------------------
 124           University Plaza                   N/A     Lock/117_0.0%/3      Yes             N/A          0.0318%
--------------------------------------------------------------------------------------------------------------------
 125           Campbell Station Shopping
               Center                             N/A     Lock/117_0.0%/3      Yes             N/A          0.0318%
--------------------------------------------------------------------------------------------------------------------
 126           Southwest Storage                  N/A     Lock/114_0.0%/6      Yes             N/A          0.0318%
--------------------------------------------------------------------------------------------------------------------
 129           Greenbriar MHP                     N/A     Lock/114_0.0%/6      Yes             N/A          0.0318%
--------------------------------------------------------------------------------------------------------------------
 130           Trafalgar Square Apartments        N/A     Lock/116_0.0%/4      Yes             N/A          0.0318%
--------------------------------------------------------------------------------------------------------------------
 131           Queens Lane Apartments             N/A     Lock/117_0.0%/3      Yes             N/A          0.0318%
--------------------------------------------------------------------------------------------------------------------
 133           327 East 52nd Street               N/A     Lock/114_0.0%/6      Yes             N/A          0.0318%
--------------------------------------------------------------------------------------------------------------------
 134           Naples Place IV                    N/A     Lock/54_0.0%/6       Yes             N/A          0.0318%
--------------------------------------------------------------------------------------------------------------------
 135           Park City Shopping Center          N/A     Lock/116_0.0%/4      Yes             N/A          0.0318%
--------------------------------------------------------------------------------------------------------------------
 136           Kennesaw Promenade              5/11/2013  Lock/114_0.0%/6      Yes             N/A          0.0318%
--------------------------------------------------------------------------------------------------------------------
 137           Lakewood Village - FL              N/A     Lock/174_0.0%/6      Yes             N/A          0.0318%
--------------------------------------------------------------------------------------------------------------------
 139           2317-2335 Market Street            N/A     Lock/114_0.0%/6      Yes             N/A          0.0318%
--------------------------------------------------------------------------------------------------------------------
 140           Gloucester Apartments              N/A     Lock/114_0.0%/6      Yes             N/A          0.0318%
--------------------------------------------------------------------------------------------------------------------

<CAPTION>

                                                              Contractual
                                                Engineering    Recurring      LC&TI   Contractual   Tax &       Initial
                                                Reserve at    Replacement  Reserve at  Recurring  Insurance      Other
  #  Crossed   Loan Name                        Origination  Reserve/FF&E Origination   LC&TI      Escrow       Reserve
-----------------------------------------------------------------------------------------------------------------------
<S>  <C>       <C>                              <C>          <C>                 <C>  <C>           <C>           <C>
 67            300 Alexander Park                     $0.00   $7,220.00          $0   $50,000.00    Tax           $0.00
-----------------------------------------------------------------------------------------------------------------------
 68            4861 & 4891 Telsa Drive                $0.00   $6,111.96          $0        $0.00    Both          $0.00
-----------------------------------------------------------------------------------------------------------------------
 69            Longview Meadow Apartments             $0.00  $27,000.00          $0        $0.00    Both          $0.00
-----------------------------------------------------------------------------------------------------------------------
 70            8501 LaSalle Road                 $55,438.00  $15,348.00          $0   $50,004.00    Both          $0.00
-----------------------------------------------------------------------------------------------------------------------
 71            Trestles of Baytown Apartments    $55,938.00  $55,000.00          $0        $0.00    Both          $0.00
-----------------------------------------------------------------------------------------------------------------------
 72            Santa Fe Place Apartments         $12,500.00  $81,750.00          $0        $0.00    Both          $0.00
-----------------------------------------------------------------------------------------------------------------------
 73            Plumtree Professional Center      $77,500.00   $7,689.00          $0   $39,996.00    Both          $0.00
-----------------------------------------------------------------------------------------------------------------------
 75            Canyon Woods Apartments            $2,437.00  $56,000.04          $0        $0.00    Both          $0.00
-----------------------------------------------------------------------------------------------------------------------
 76            Grove Street                     $172,000.00  $13,524.00          $0   $45,072.00    Both          $0.00
-----------------------------------------------------------------------------------------------------------------------
 78            Ashley Park Apartments            $31,000.00  $50,000.00          $0        $0.00    Both          $0.00
-----------------------------------------------------------------------------------------------------------------------
 79            Rosemont Retail Center                 $0.00       $0.00     $93,010    $7,800.00    Both          $0.00
-----------------------------------------------------------------------------------------------------------------------
 81            Cardinal Shopping Center               $0.00       $0.00          $0   $12,000.00    Both          $0.00
-----------------------------------------------------------------------------------------------------------------------
 82            Grogan's Mill Village Center           $0.00       $0.00     $50,000   $24,000.00    Both          $0.00
-----------------------------------------------------------------------------------------------------------------------
 83            Atlas Valley Shopping Center           $0.00       $0.00          $0   $12,000.00    Both      $4,780.00
-----------------------------------------------------------------------------------------------------------------------
 84            Heights Garden Apartments        $150,000.00  $29,376.00          $0        $0.00    Both          $0.00
-----------------------------------------------------------------------------------------------------------------------
 85            Radnor Towers Apartments         $105,026.00  $47,749.92          $0        $0.00    Both      $8,600.00
-----------------------------------------------------------------------------------------------------------------------
 87            10 Canebrake Boulevard                 $0.00   $7,954.08          $0   $51,999.96    Both          $0.00
-----------------------------------------------------------------------------------------------------------------------
 88            The Forest Apartments            $143,094.00  $48,000.00          $0        $0.00    Both          $0.00
-----------------------------------------------------------------------------------------------------------------------
 89            Gristedes - 3rd Ave. and 36th
               Street                                 $0.00   $1,800.00          $0        $0.00    Both     $28,516.50
-----------------------------------------------------------------------------------------------------------------------
 90            111 & 121 Roberts Street               $0.00  $13,020.00          $0   $43,800.00    Both          $0.00
-----------------------------------------------------------------------------------------------------------------------
 91            Richland Village Shopping
               Center                             $1,875.00       $0.00          $0   $48,000.00    Both          $0.00
-----------------------------------------------------------------------------------------------------------------------
 92            Pacific West Apartments           $21,875.00  $36,000.00          $0        $0.00    Both          $0.00
-----------------------------------------------------------------------------------------------------------------------
 93            Atrium Medical Office Building         $0.00       $0.00          $0   $35,004.00    Both          $0.00
-----------------------------------------------------------------------------------------------------------------------
 94            Wingate Inn Fayetteville               $0.00       $0.00          $0        $0.00    Both          $0.00
-----------------------------------------------------------------------------------------------------------------------
 95            Millside Building                 $66,671.00       $0.00     $50,000   $43,992.00    Both          $0.00
-----------------------------------------------------------------------------------------------------------------------
 100           Market at Southern Pines               $0.00   $3,564.00          $0   $12,000.00    Both          $0.00
-----------------------------------------------------------------------------------------------------------------------
 101           Palm Shadows MH & RV Park              $0.00       $0.00          $0        $0.00    Both          $0.00
-----------------------------------------------------------------------------------------------------------------------
 103           Anderson Oaks Mobile Home Park    $20,375.00   $8,750.04          $0        $0.00    Both          $0.00
-----------------------------------------------------------------------------------------------------------------------
 108           Magic Valley Park                      $0.00       $0.00          $0        $0.00    Both          $0.00
-----------------------------------------------------------------------------------------------------------------------
 109           River Park Apartments                  $0.00  $24,999.96          $0        $0.00    Both          $0.00
-----------------------------------------------------------------------------------------------------------------------
 110           Portway Plaza Office Building     $36,312.00  $10,068.36    $125,000   $57,053.76    Both     $50,000.00
-----------------------------------------------------------------------------------------------------------------------
 111           Marigold Apartments               $23,931.00  $29,000.00          $0        $0.00    Both      $4,000.00
-----------------------------------------------------------------------------------------------------------------------
 112           Carlton Apartments               $100,375.00  $27,000.00          $0        $0.00    Both          $0.00
-----------------------------------------------------------------------------------------------------------------------
 113    (D)    Ramey's Mobile Home Park          $62,500.00   $7,100.04          $0        $0.00    Both          $0.00
-----------------------------------------------------------------------------------------------------------------------
 114    (D)    Bexley Mobile Home Park           $20,625.00   $5,700.00          $0        $0.00    Both          $0.00
-----------------------------------------------------------------------------------------------------------------------
 117           Lincoln Professional Plaza             $0.00       $0.00          $0   $18,000.00    Both          $0.00
-----------------------------------------------------------------------------------------------------------------------
 118           Santa Grande Mobile Home Park     $60,163.00   $5,564.04          $0        $0.00    Both          $0.00
-----------------------------------------------------------------------------------------------------------------------
 119           301 N. Brand Blvd.                 $5,000.00       $0.00          $0   $20,000.04    Both          $0.00
-----------------------------------------------------------------------------------------------------------------------
 120           Tropicana Del Este Apartments          $0.00  $14,250.00          $0        $0.00    Both          $0.00
-----------------------------------------------------------------------------------------------------------------------
 123           Sundance Village MHP             $558,810.00   $8,000.04          $0        $0.00    Both          $0.00
-----------------------------------------------------------------------------------------------------------------------
 124           University Plaza                       $0.00       $0.00          $0        $0.00    Both          $0.00
-----------------------------------------------------------------------------------------------------------------------
 125           Campbell Station Shopping
               Center                                 $0.00       $0.00          $0   $14,700.00    Both          $0.00
-----------------------------------------------------------------------------------------------------------------------
 126           Southwest Storage                    $625.00       $0.00          $0        $0.00    Both          $0.00
-----------------------------------------------------------------------------------------------------------------------
 129           Greenbriar MHP                       $625.00   $6,999.96          $0        $0.00    Both          $0.00
-----------------------------------------------------------------------------------------------------------------------
 130           Trafalgar Square Apartments            $0.00  $11,199.96          $0        $0.00    Both          $0.00
-----------------------------------------------------------------------------------------------------------------------
 131           Queens Lane Apartments            $92,500.00  $21,750.00          $0        $0.00    Both          $0.00
-----------------------------------------------------------------------------------------------------------------------
 133           327 East 52nd Street               $6,000.00   $2,250.00          $0        $0.00    Both          $0.00
-----------------------------------------------------------------------------------------------------------------------
 134           Naples Place IV                  $112,650.00  $13,250.00          $0        $0.00    Both          $0.00
-----------------------------------------------------------------------------------------------------------------------
 135           Park City Shopping Center         $10,618.00  $10,055.04     $30,000   $46,920.96    Both          $0.00
-----------------------------------------------------------------------------------------------------------------------
 136           Kennesaw Promenade                $11,375.00       $0.00          $0   $27,804.00    Both          $0.00
-----------------------------------------------------------------------------------------------------------------------
 137           Lakewood Village - FL                  $0.00       $0.00          $0        $0.00    Both          $0.00
-----------------------------------------------------------------------------------------------------------------------
 139           2317-2335 Market Street            $9,625.00   $1,250.04          $0        $0.00    Both          $0.00
-----------------------------------------------------------------------------------------------------------------------
 140           Gloucester Apartments              $2,625.00   $8,000.04          $0        $0.00    Both          $0.00
-----------------------------------------------------------------------------------------------------------------------

                                                         B-1-6
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
                                                 Mortgage                                   First
                                                 Interest Interest Calculation  Monthly    Payment       Maturity
 #   Crossed   Loan Name                           Rate   (30/360 / Actual/360) Payment      Date          Date
--------------------------------------------------------------------------------------------------------------------
<S>  <C>       <C>                                <C>       <C>                <C>         <C>          <C>
 141           Bayou Villa Apartments             5.730%    Actual/360          $9,899.15  6/11/2003    5/11/2013
--------------------------------------------------------------------------------------------------------------------
 142           South Michigan Avenue Office
               Building                           6.210%    Actual/360         $11,172.38  3/11/2003    2/11/2008
--------------------------------------------------------------------------------------------------------------------
 143           Gateway Retail Center              6.300%    Actual/360         $10,058.31  6/11/2003    5/11/2013
--------------------------------------------------------------------------------------------------------------------
 144           Murphy Retail Center               6.150%    Actual/360         $11,783.06  4/11/2003    3/11/2013
--------------------------------------------------------------------------------------------------------------------
 145           Anaheim Street Retail Center       6.280%    Actual/360         $10,584.40  6/11/2003    5/11/2013
--------------------------------------------------------------------------------------------------------------------
 146           Park Street Retail                 6.000%    Actual/360          $9,728.95  7/11/2003    6/11/2013
--------------------------------------------------------------------------------------------------------------------
 147           Sprinkle Ridge Apartments          5.650%    Actual/360          $8,658.54  7/11/2003    6/11/2013
--------------------------------------------------------------------------------------------------------------------
 148           Melonie Square                     5.860%    Actual/360          $9,536.56  5/11/2003    4/11/2013
--------------------------------------------------------------------------------------------------------------------
 149           7000 North Freeway                 6.510%    Actual/360         $12,594.50  6/11/2003    5/11/2019
--------------------------------------------------------------------------------------------------------------------
 150           Sunny Isle Apartments              5.950%    Actual/360          $9,233.98  4/11/2003    3/11/2013
--------------------------------------------------------------------------------------------------------------------
 151           Nichols Station I Apartments       5.410%    Actual/360          $8,066.93  4/11/2003    3/11/2013
--------------------------------------------------------------------------------------------------------------------
 152           Biddeford Apartments               6.390%    Actual/360          $8,747.92  6/11/2003    5/11/2013
--------------------------------------------------------------------------------------------------------------------
 153           Mount Vernon Apartments            5.870%    Actual/360          $8,654.74  7/11/2003    6/11/2013
--------------------------------------------------------------------------------------------------------------------
 154           Cambridge Estates Apts (Phase
               III)                               5.600%    Actual/360         $11,102.40  8/11/2003    7/11/2018
--------------------------------------------------------------------------------------------------------------------
 155           South Ynez Apartments              5.850%    Actual/360          $8,098.33  5/11/2003    4/11/2013
--------------------------------------------------------------------------------------------------------------------
 156           Colorado Square / Medlin Place
               Apartments                         5.900%    Actual/360          $8,041.35  5/11/2003    4/11/2008
--------------------------------------------------------------------------------------------------------------------
 157           Country Oaks Mobile Home Park      5.700%    Actual/360          $7,763.50  8/11/2003    7/11/2010
--------------------------------------------------------------------------------------------------------------------
 158           Greenville Retail Center           6.150%    Actual/360          $8,882.62  4/11/2003    3/11/2013
--------------------------------------------------------------------------------------------------------------------
 159           Cliffview Crossing                 6.130%    Actual/360          $7,827.26  6/11/2003    5/11/2013
--------------------------------------------------------------------------------------------------------------------
 160           Grove Apartments                   6.300%    Actual/360          $7,953.16  5/11/2003    4/11/2013
--------------------------------------------------------------------------------------------------------------------
 161           Greentree Apartments               6.100%    Actual/360         $10,191.23  6/11/2003    5/11/2018
--------------------------------------------------------------------------------------------------------------------
 162           Coachlite Apartments               5.250%    Actual/360          $6,074.24  8/11/2003    7/11/2013
--------------------------------------------------------------------------------------------------------------------
 163           Northgate Terrace I Apartments     5.940%    Actual/360          $7,047.03  5/11/2003    4/11/2013
--------------------------------------------------------------------------------------------------------------------
 164           150 Broad Street                   6.010%    Actual/360          $6,449.13  7/11/2003    6/11/2013
--------------------------------------------------------------------------------------------------------------------
 165           Sunset Avenue Apartments           6.110%    Actual/360          $5,945.08  5/11/2003    4/11/2013
--------------------------------------------------------------------------------------------------------------------
 166           Classic Village                    6.430%    Actual/360          $6,540.69  6/11/2003    5/11/2013
--------------------------------------------------------------------------------------------------------------------
 167           Knox Landing Apartments            5.700%    Actual/360          $5,947.84  7/11/2003    6/11/2013
--------------------------------------------------------------------------------------------------------------------
 168           1013 West Linden Street            6.220%    Actual/360          $5,032.29  6/11/2003    5/11/2013
--------------------------------------------------------------------------------------------------------------------
 169           Ledgewood Mobile Home Park         6.180%    Actual/360          $4,980.65  6/11/2003    5/11/2013
--------------------------------------------------------------------------------------------------------------------
 170           83 Elizabeth Street                5.750%    Actual/360          $3,793.22  6/11/2003    5/11/2013
--------------------------------------------------------------------------------------------------------------------
 171           1235 Elm Street                    6.360%    Actual/360          $3,871.11  6/11/2003    5/11/2013
--------------------------------------------------------------------------------------------------------------------
116A           El Valle del Sol                   5.970%    Actual/360         $11,952.46  5/11/2003    4/11/2013
--------------------------------------------------------------------------------------------------------------------
116B           El Valle de la Luna                5.970%    Actual/360          $3,585.74  5/11/2003    4/11/2013
--------------------------------------------------------------------------------------------------------------------
132A           San Juan Gardens                   6.010%    Actual/360          $7,064.28  5/11/2003    4/11/2013
--------------------------------------------------------------------------------------------------------------------
132B           Friendly Village                   6.010%    Actual/360          $4,639.50  5/11/2003    4/11/2013
--------------------------------------------------------------------------------------------------------------------

<CAPTION>

                                                                                                           Servicing
                                                                              Defeasance      Yield           and
                                                         Prepayment Provision   Option     Maintenance      Trustee
 #   Crossed   Loan Name                         ARD(8)  as of Origination(9)    (10)        Spread          Fees
--------------------------------------------------------------------------------------------------------------------
<S>  <C>       <C>                                <C>     <C>                   <C>            <C>          <C>
 141           Bayou Villa Apartments             N/A     Lock/117_0.0%/3       Yes            N/A          0.0318%
--------------------------------------------------------------------------------------------------------------------
 142           South Michigan Avenue Office
               Building                           N/A     Lock/43_YM1/14_0.0%/3 No             T-Flat       0.0318%
--------------------------------------------------------------------------------------------------------------------
 143           Gateway Retail Center              N/A     Lock/40_YM1/77_0.0%/3 No             T-Flat       0.0318%
--------------------------------------------------------------------------------------------------------------------
 144           Murphy Retail Center               N/A     Lock/116_0.0%/4       Yes            N/A          0.0318%
--------------------------------------------------------------------------------------------------------------------
 145           Anaheim Street Retail Center       N/A     Lock/114_0.0%/6       Yes            N/A          0.0318%
--------------------------------------------------------------------------------------------------------------------
 146           Park Street Retail                 N/A     Lock/114_0.0%/6       Yes            N/A          0.0318%
--------------------------------------------------------------------------------------------------------------------
 147           Sprinkle Ridge Apartments          N/A     Lock/114_0.0%/6       Yes            N/A          0.0318%
--------------------------------------------------------------------------------------------------------------------
 148           Melonie Square                     N/A     Lock/117_0.0%/3       Yes            N/A          0.0318%
--------------------------------------------------------------------------------------------------------------------
 149           7000 North Freeway                 N/A     Lock/189_0.0%/3       Yes            N/A          0.0818%
--------------------------------------------------------------------------------------------------------------------
 150           Sunny Isle Apartments              N/A     Lock/114_0.0%/6       Yes            N/A          0.0318%
--------------------------------------------------------------------------------------------------------------------
 151           Nichols Station I Apartments       N/A     Lock/117_0.0%/3       Yes            N/A          0.0318%
--------------------------------------------------------------------------------------------------------------------
 152           Biddeford Apartments               N/A     Lock/114_0.0%/6       Yes            N/A          0.0318%
--------------------------------------------------------------------------------------------------------------------
 153           Mount Vernon Apartments            N/A     Lock/114_0.0%/6       Yes            N/A          0.0318%
--------------------------------------------------------------------------------------------------------------------
 154           Cambridge Estates Apts (Phase
               III)                               N/A     Lock/174_0.0%/6       Yes            N/A          0.0318%
--------------------------------------------------------------------------------------------------------------------
 155           South Ynez Apartments              N/A     Lock/114_0.0%/6       Yes            N/A          0.0318%
--------------------------------------------------------------------------------------------------------------------
 156           Colorado Square / Medlin Place
               Apartments                         N/A     Lock/54_0.0%/6        Yes            N/A          0.0318%
--------------------------------------------------------------------------------------------------------------------
 157           Country Oaks Mobile Home Park      N/A     Lock/78_0.0%/6        Yes            N/A          0.0318%
--------------------------------------------------------------------------------------------------------------------
 158           Greenville Retail Center           N/A     Lock/116_0.0%/4       Yes            N/A          0.0318%
--------------------------------------------------------------------------------------------------------------------
 159           Cliffview Crossing                 N/A     Lock/117_0.0%/3       Yes            N/A          0.0318%
--------------------------------------------------------------------------------------------------------------------
 160           Grove Apartments                   N/A     Lock/114_0.0%/6       Yes            N/A          0.0318%
--------------------------------------------------------------------------------------------------------------------
 161           Greentree Apartments               N/A     Lock/174_0.0%/6       Yes            N/A          0.0318%
--------------------------------------------------------------------------------------------------------------------
 162           Coachlite Apartments               N/A     Lock/114_0.0%/6       Yes            N/A          0.0318%
--------------------------------------------------------------------------------------------------------------------
 163           Northgate Terrace I Apartments     N/A     Lock/117_0.0%/3       Yes            N/A          0.0318%
--------------------------------------------------------------------------------------------------------------------
 164           150 Broad Street                   N/A     Lock/114_0.0%/6       Yes            N/A          0.0318%
--------------------------------------------------------------------------------------------------------------------
 165           Sunset Avenue Apartments           N/A     Lock/114_0.0%/6       Yes            N/A          0.0318%
--------------------------------------------------------------------------------------------------------------------
 166           Classic Village                    N/A     Lock/114_0.0%/6       Yes            N/A          0.0318%
--------------------------------------------------------------------------------------------------------------------
 167           Knox Landing Apartments            N/A     Lock/39_YM1/78_0.0%/3 No             N/A          0.0318%
--------------------------------------------------------------------------------------------------------------------
 168           1013 West Linden Street            N/A     Lock/114_0.0%/6       Yes            N/A          0.0318%
--------------------------------------------------------------------------------------------------------------------
 169           Ledgewood Mobile Home Park         N/A     Lock/114_0.0%/6       Yes            N/A          0.0318%
--------------------------------------------------------------------------------------------------------------------
 170           83 Elizabeth Street                N/A     Lock/114_0.0%/6       Yes            N/A          0.0318%
--------------------------------------------------------------------------------------------------------------------
 171           1235 Elm Street                    N/A     Lock/40_YM1/77_0.0%/3 No             T-Flat       0.0318%
--------------------------------------------------------------------------------------------------------------------
116A           El Valle del Sol                   N/A     Lock/117_0.0%/3       Yes            N/A          0.0318%
--------------------------------------------------------------------------------------------------------------------
116B           El Valle de la Luna                N/A     Lock/117_0.0%/3       Yes            N/A          0.0318%
--------------------------------------------------------------------------------------------------------------------
132A           San Juan Gardens                   N/A     Lock/117_0.0%/3       Yes            N/A          0.0318%
--------------------------------------------------------------------------------------------------------------------
132B           Friendly Village                   N/A     Lock/117_0.0%/3       Yes            N/A          0.0318%
--------------------------------------------------------------------------------------------------------------------

<CAPTION>

                                                              Contractual
                                                Engineering    Recurring      LC&TI   Contractual   Tax &       Initial
                                                Reserve at    Replacement  Reserve at  Recurring  Insurance      Other
  #  Crossed   Loan Name                        Origination  Reserve/FF&E Origination   LC&TI      Escrow       Reserve
-----------------------------------------------------------------------------------------------------------------------
<S>  <C>       <C>                              <C>          <C>            <C>      <C>            <C>     <C>
 141           Bayou Villa Apartments                 $0.00  $14,000.00          $0       $0.00     Both    $257,000.00
-----------------------------------------------------------------------------------------------------------------------
 142           South Michigan Avenue Office
               Building                           $1,375.00       $0.00          $0       $0.00     Both          $0.00
-----------------------------------------------------------------------------------------------------------------------
 143           Gateway Retail Center                  $0.00       $0.00     $25,000       $0.00     Both     $53,766.00
-----------------------------------------------------------------------------------------------------------------------
 144           Murphy Retail Center                   $0.00   $3,433.68          $0   $11,445.48    Both          $0.00
-----------------------------------------------------------------------------------------------------------------------
 145           Anaheim Street Retail Center       $5,875.00       $0.00          $0   $34,666.68    Both          $0.00
-----------------------------------------------------------------------------------------------------------------------
 146           Park Street Retail                     $0.00       $0.00     $35,000   $35,000.04    Both          $0.00
-----------------------------------------------------------------------------------------------------------------------
 147           Sprinkle Ridge Apartments          $6,371.00  $24,000.00          $0       $0.00     Both          $0.00
-----------------------------------------------------------------------------------------------------------------------
 148           Melonie Square                    $26,563.00  $12,633.96          $0       $0.00     Both          $0.00
-----------------------------------------------------------------------------------------------------------------------
 149           7000 North Freeway                     $0.00       $0.00          $0       $0.00     Both          $0.00
-----------------------------------------------------------------------------------------------------------------------
 150           Sunny Isle Apartments             $14,156.00   $8,499.96          $0       $0.00     Both          $0.00
-----------------------------------------------------------------------------------------------------------------------
 151           Nichols Station I Apartments       $3,750.00   $8,496.00          $0       $0.00     Both          $0.00
-----------------------------------------------------------------------------------------------------------------------
 152           Biddeford Apartments             $149,634.00  $10,000.00          $0       $0.00     Both          $0.00
-----------------------------------------------------------------------------------------------------------------------
 153           Mount Vernon Apartments                $0.00   $9,999.96          $0       $0.00     Both          $0.00
-----------------------------------------------------------------------------------------------------------------------
 154           Cambridge Estates Apts (Phase
               III)                               $1,250.00  $27,456.00          $0       $0.00     Both          $0.00
-----------------------------------------------------------------------------------------------------------------------
 155           South Ynez Apartments              $3,125.00   $5,000.04          $0       $0.00     Both          $0.00
-----------------------------------------------------------------------------------------------------------------------
 156           Colorado Square / Medlin Place
               Apartments                        $15,470.00  $16,250.00          $0       $0.00     Both          $0.00
-----------------------------------------------------------------------------------------------------------------------
 157           Country Oaks Mobile Home Park     $10,438.00   $6,500.04          $0       $0.00     Both          $0.00
-----------------------------------------------------------------------------------------------------------------------
 158           Greenville Retail Center               $0.00   $2,310.00          $0   $7,699.92     Both          $0.00
-----------------------------------------------------------------------------------------------------------------------
 159           Cliffview Crossing                 $6,762.50  $14,514.96          $0  $49,806.00     Both    $100,000.00
-----------------------------------------------------------------------------------------------------------------------
 160           Grove Apartments                   $1,350.00   $6,000.00          $0       $0.00     Both          $0.00
-----------------------------------------------------------------------------------------------------------------------
 161           Greentree Apartments                   $0.00  $17,000.00          $0       $0.00     Both          $0.00
-----------------------------------------------------------------------------------------------------------------------
 162           Coachlite Apartments               $9,725.00  $15,999.96          $0       $0.00     Both          $0.00
-----------------------------------------------------------------------------------------------------------------------
 163           Northgate Terrace I Apartments     $2,500.00  $18,000.00          $0       $0.00     Both          $0.00
-----------------------------------------------------------------------------------------------------------------------
 164           150 Broad Street                   $7,687.00       $0.00     $60,000       $0.00     Both          $0.00
-----------------------------------------------------------------------------------------------------------------------
 165           Sunset Avenue Apartments               $0.00   $1,500.00          $0       $0.00     Both          $0.00
-----------------------------------------------------------------------------------------------------------------------
 166           Classic Village                    $9,313.00       $0.00     $14,000  $25,846.20     Both          $0.00
-----------------------------------------------------------------------------------------------------------------------
 167           Knox Landing Apartments           $27,469.00  $10,000.00          $0       $0.00     Both          $0.00
-----------------------------------------------------------------------------------------------------------------------
 168           1013 West Linden Street           $37,693.00   $5,000.04          $0       $0.00     Both          $0.00
-----------------------------------------------------------------------------------------------------------------------
 169           Ledgewood Mobile Home Park        $16,875.00   $3,050.04          $0       $0.00     Both          $0.00
-----------------------------------------------------------------------------------------------------------------------
 170           83 Elizabeth Street                $1,500.00   $1,500.00          $0       $0.00     Both          $0.00
-----------------------------------------------------------------------------------------------------------------------
 171           1235 Elm Street                   $13,188.00   $3,636.60          $0       $0.00     Both          $0.00
-----------------------------------------------------------------------------------------------------------------------
116A           El Valle del Sol                  $34,375.00       $0.00          $0       $0.00     Both          $0.00
-----------------------------------------------------------------------------------------------------------------------
116B           El Valle de la Luna                    $0.00       $0.00          $0       $0.00     Both          $0.00
-----------------------------------------------------------------------------------------------------------------------
132A           San Juan Gardens                   $4,338.60       $0.00          $0       $0.00     Both          $0.00
-----------------------------------------------------------------------------------------------------------------------
132B           Friendly Village                   $2,849.40       $0.00          $0       $0.00     Both          $0.00
-----------------------------------------------------------------------------------------------------------------------

                                                         B-1-7
</TABLE>

<PAGE>

                                                                         Initial
                                                                           Debt
                                                                         Service
 #  Crossed Loan Name                  Initial Other Reserve Description Reserve
--------------------------------------------------------------------------------
 1          Circle Centre Mall         N/A                                $0.00
--------------------------------------------------------------------------------
 2          Wanamaker Building -       N/A                                $0.00
            Office
--------------------------------------------------------------------------------
 4    (A)   Mira Mesa Market Center    N/A                                $0.00
            West
--------------------------------------------------------------------------------
 5    (A)   Mira Mesa Market Center    N/A                                $0.00
            East
--------------------------------------------------------------------------------
 6    (B)   PCCP - Commerce Centre     N/A                                $0.00
--------------------------------------------------------------------------------
 7    (B)   PCCP - Paramount           N/A                                $0.00
            Distribution Center
--------------------------------------------------------------------------------
 8    (B)   PCCP - 301 Walnut          Howard Organization Lease          $0.00
                                       Reserve
--------------------------------------------------------------------------------
 9A         Mayfair Mall - Retail      N/A                                $0.00
--------------------------------------------------------------------------------
 9B         Mayfair Mall - Office      N/A                                $0.00
            Complex
--------------------------------------------------------------------------------
 10         540 Madison Avenue         Interest Reserve Fund              $0.00
--------------------------------------------------------------------------------
 11         Town & Country Apartments  N/A                                $0.00
            - Urbana
--------------------------------------------------------------------------------
 16   (C)   Red Lion Hotel Port        Termite Reserve                    $0.00
            Angeles
--------------------------------------------------------------------------------
 17   (C)   Red Lion Hotel Yakima      Termite Reserve                    $0.00
            Center
--------------------------------------------------------------------------------
 18   (C)   Red Lion Hotel Eureka      Termite Reserve                    $0.00
--------------------------------------------------------------------------------
 19   (C)   Red Lion Hotel Twin Falls  N/A                                $0.00
--------------------------------------------------------------------------------
 20   (C)   Red Lion Hotel Kennewick   Termite Reserve                    $0.00
--------------------------------------------------------------------------------
 21         Arlington & Bradley        N/A                                $0.00
            Office Center
--------------------------------------------------------------------------------
 23         780 James P. Casey Road    Firestone Reserve                  $0.00
--------------------------------------------------------------------------------
 24         800 Apollo                 N/A                                $0.00
--------------------------------------------------------------------------------
 25         Regent Industrial Center   N/A                                $0.00
--------------------------------------------------------------------------------
 26         Sarasota Gateway           N/A                                $0.00

--------------------------------------------------------------------------------
 27         Bristol Farms Apartments   Upfront Roadwork Escrow            $0.00
--------------------------------------------------------------------------------
 28         Country View Mobile Home   N/A                                $0.00
            Park
--------------------------------------------------------------------------------
 29         University Commons         N/A                                $0.00
--------------------------------------------------------------------------------
 30         Princeton Square           Capital Improvements Reserve       $0.00
            Apartments
--------------------------------------------------------------------------------
 31         Burlington Center Mall     N/A                                $0.00
--------------------------------------------------------------------------------
 32         Club at Tranquility Lake   N/A                                $0.00
--------------------------------------------------------------------------------
 33         Warner Center Business     ATK Missile Systems TI Reserve     $0.00
            Park                       ($416,925.00); University of
                                       West Los Angeles College of Law
                                       TI Reserve ($25,000.00)
--------------------------------------------------------------------------------
 34         Expressway Mall            N/A                                $0.00

--------------------------------------------------------------------------------
 35         Airline Shopping Center    N/A                                $0.00

--------------------------------------------------------------------------------
 36         Windward Village Shopping  N/A                                $0.00
            Center
--------------------------------------------------------------------------------
 37         Playa Blanca Apartments    Termite Reserve                    $0.00
--------------------------------------------------------------------------------
 38         Torrey View Corporate      N/A                                $0.00
            Center
--------------------------------------------------------------------------------
 41         The Moorings Apartments    N/A                                $0.00
--------------------------------------------------------------------------------
 42         5th & Lamar Retail/Office  N/A                                $0.00
            Development
--------------------------------------------------------------------------------
 43         American Village on the    Termite Repair Reserve             $0.00
            Lake Apartments
--------------------------------------------------------------------------------
 44         Ryan's Pointe Apartments   N/A                                $0.00
--------------------------------------------------------------------------------
 45         Cleveland Street Square    N/A                                $0.00
--------------------------------------------------------------------------------
 47         Rivermont Apartments       Initial Cash Flow/Liquidity        $0.00
                                       Reserve
--------------------------------------------------------------------------------
 50         Westover Gallery Shopping  N/A                                $0.00
            Center
--------------------------------------------------------------------------------
 53         Trestles of Houston        N/A                                $0.00
            Apartments
--------------------------------------------------------------------------------
 54         Pemstar, Inc. Headquarters N/A                                $0.00
--------------------------------------------------------------------------------
 56         Riverbend Apartments       N/A                                $0.00
--------------------------------------------------------------------------------
 57         D'Adrian Meadows           Termite Repair Reserve             $0.00
            Apartments
--------------------------------------------------------------------------------
 58         Park Place                 N/A                                $0.00
--------------------------------------------------------------------------------
 59         Millstone Lakes Apartments N/A                                $0.00
--------------------------------------------------------------------------------
 61         Aspen Woods                N/A                                $0.00
--------------------------------------------------------------------------------
 62         Iliff Commons Shopping     N/A                                $0.00
            Center
--------------------------------------------------------------------------------
 63         Atlantic Boulevard         N/A                                $0.00
            Shopping Center
--------------------------------------------------------------------------------
 64         Shoppes at Brandon Farms   N/A                                $0.00
--------------------------------------------------------------------------------
 65         Court Street Plaza         N/A                                $0.00
            Shopping Center
--------------------------------------------------------------------------------

<TABLE>
<CAPTION>
                                         Initial
                                       Replacement    Letter of                                                  Earnout
 #  Crossed Loan Name                    Reserve       Credit              Letter of Credit Description          Reserve
-------------------------------------------------------------------------------------------------------------------------
<S> <C>     <C>                              <C>   <C>              <C>                                     <C>
 1          Circle Centre Mall               $0.00         $0.00    N/A                                             $0.00
-------------------------------------------------------------------------------------------------------------------------
 2          Wanamaker Building -             $0.00         $0.00    N/A                                             $0.00
            Office
-------------------------------------------------------------------------------------------------------------------------
 4    (A)   Mira Mesa Market Center          $0.00    $65,000.00    Tax & Insurance Impound Letter of Credit        $0.00
            West
-------------------------------------------------------------------------------------------------------------------------
 5    (A)   Mira Mesa Market Center          $0.00 $1,235,000.00    Earnout LOC ($1,000,000), 6 Months Taxes &      $0.00
            East                                                    Insurance ($235,000)
-------------------------------------------------------------------------------------------------------------------------
 6    (B)   PCCP - Commerce Centre           $0.00         $0.00    N/A                                             $0.00
-------------------------------------------------------------------------------------------------------------------------
 7    (B)   PCCP - Paramount                 $0.00         $0.00    N/A                                             $0.00
            Distribution Center
-------------------------------------------------------------------------------------------------------------------------
 8    (B)   PCCP - 301 Walnut                $0.00         $0.00    N/A                                             $0.00

-------------------------------------------------------------------------------------------------------------------------
 9A         Mayfair Mall - Retail            $0.00         $0.00    N/A                                             $0.00
-------------------------------------------------------------------------------------------------------------------------
 9B         Mayfair Mall - Office            $0.00         $0.00    N/A                                             $0.00
            Complex
-------------------------------------------------------------------------------------------------------------------------
 10         540 Madison Avenue               $0.00         $0.00    N/A                                             $0.00
-------------------------------------------------------------------------------------------------------------------------
 11         Town & Country Apartments        $0.00         $0.00    N/A                                             $0.00
            - Urbana
-------------------------------------------------------------------------------------------------------------------------
 16   (C)   Red Lion Hotel Port              $0.00         $0.00    N/A                                             $0.00
            Angeles
-------------------------------------------------------------------------------------------------------------------------
 17   (C)   Red Lion Hotel Yakima            $0.00         $0.00    N/A                                             $0.00
            Center
-------------------------------------------------------------------------------------------------------------------------
 18   (C)   Red Lion Hotel Eureka            $0.00         $0.00    N/A                                             $0.00
-------------------------------------------------------------------------------------------------------------------------
 19   (C)   Red Lion Hotel Twin Falls        $0.00         $0.00    N/A                                             $0.00
-------------------------------------------------------------------------------------------------------------------------
 20   (C)   Red Lion Hotel Kennewick         $0.00         $0.00    N/A                                             $0.00
-------------------------------------------------------------------------------------------------------------------------
 21         Arlington & Bradley         $45,000.00         $0.00    N/A                                             $0.00
            Office Center
-------------------------------------------------------------------------------------------------------------------------
 23         780 James P. Casey Road          $0.00         $0.00    N/A                                             $0.00
-------------------------------------------------------------------------------------------------------------------------
 24         800 Apollo                       $0.00         $0.00    N/A                                             $0.00
-------------------------------------------------------------------------------------------------------------------------
 25         Regent Industrial Center   $300,000.00         $0.00    N/A                                             $0.00
-------------------------------------------------------------------------------------------------------------------------
 26         Sarasota Gateway                 $0.00   $300,000.00    Pinnacle Towers TILC LOC ($250,000);            $0.00
                                                                    Vacant Space TILC LOC ($50,000)
-------------------------------------------------------------------------------------------------------------------------
 27         Bristol Farms Apartments         $0.00         $0.00    N/A                                             $0.00
-------------------------------------------------------------------------------------------------------------------------
 28         Country View Mobile Home         $0.00         $0.00    N/A                                             $0.00
            Park
-------------------------------------------------------------------------------------------------------------------------
 29         University Commons               $0.00         $0.00    N/A                                             $0.00
-------------------------------------------------------------------------------------------------------------------------
 30         Princeton Square                 $0.00         $0.00    N/A                                             $0.00
            Apartments
-------------------------------------------------------------------------------------------------------------------------
 31         Burlington Center Mall           $0.00         $0.00    N/A                                             $0.00
-------------------------------------------------------------------------------------------------------------------------
 32         Club at Tranquility Lake         $0.00         $0.00    N/A                                             $0.00
-------------------------------------------------------------------------------------------------------------------------
 33         Warner Center Business           $0.00   $670,000.00    In His Presence Reserve                         $0.00
            Park

-------------------------------------------------------------------------------------------------------------------------
 34         Expressway Mall                  $0.00   $300,000.00    Release upon: i) DSCR of 1.35, ii) Gross        $0.00
                                                                    Income of $1,700,000
-------------------------------------------------------------------------------------------------------------------------
 35         Airline Shopping Center          $0.00   $200,000.00    Release upon: i) DSCR <= 1.20, ii)              $0.00
                                                                    satisfactory lease with Goodyear Tire and
                                                                    iii) receipt of tenant estoppel for
                                                                    Goodyear Tire.
-------------------------------------------------------------------------------------------------------------------------
 36         Windward Village Shopping        $0.00         $0.00    N/A                                     $1,000,000.00
            Center
-------------------------------------------------------------------------------------------------------------------------
 37         Playa Blanca Apartments          $0.00         $0.00    N/A                                             $0.00
-------------------------------------------------------------------------------------------------------------------------
 38         Torrey View Corporate            $0.00         $0.00    N/A                                             $0.00
            Center
-------------------------------------------------------------------------------------------------------------------------
 41         The Moorings Apartments          $0.00         $0.00    N/A                                             $0.00
-------------------------------------------------------------------------------------------------------------------------
 42         5th & Lamar Retail/Office        $0.00         $0.00    N/A                                       $550,000.00
            Development
-------------------------------------------------------------------------------------------------------------------------
 43         American Village on the  $1,000,000.00         $0.00    N/A                                             $0.00
            Lake Apartments
-------------------------------------------------------------------------------------------------------------------------
 44         Ryan's Pointe Apartments         $0.00         $0.00    N/A                                             $0.00
-------------------------------------------------------------------------------------------------------------------------
 45         Cleveland Street Square          $0.00         $0.00    N/A                                             $0.00
-------------------------------------------------------------------------------------------------------------------------
 47         Rivermont Apartments             $0.00         $0.00    N/A                                             $0.00

-------------------------------------------------------------------------------------------------------------------------
 50         Westover Gallery Shopping        $0.00         $0.00    N/A                                             $0.00
            Center
-------------------------------------------------------------------------------------------------------------------------
 53         Trestles of Houston              $0.00         $0.00    N/A                                             $0.00
            Apartments
-------------------------------------------------------------------------------------------------------------------------
 54         Pemstar, Inc. Headquarters       $0.00         $0.00    N/A                                             $0.00
-------------------------------------------------------------------------------------------------------------------------
 56         Riverbend Apartments             $0.00         $0.00    N/A                                             $0.00
-------------------------------------------------------------------------------------------------------------------------
 57         D'Adrian Meadows           $276,250.00         $0.00    N/A                                             $0.00
            Apartments
-------------------------------------------------------------------------------------------------------------------------
 58         Park Place                       $0.00         $0.00    N/A                                             $0.00
-------------------------------------------------------------------------------------------------------------------------
 59         Millstone Lakes Apartments       $0.00         $0.00    N/A                                             $0.00
-------------------------------------------------------------------------------------------------------------------------
 61         Aspen Woods                      $0.00         $0.00    N/A                                             $0.00
-------------------------------------------------------------------------------------------------------------------------
 62         Iliff Commons Shopping           $0.00   $250,000.00    In lieu of TI & LC's                            $0.00
            Center
-------------------------------------------------------------------------------------------------------------------------
 63         Atlantic Boulevard               $0.00         $0.00    N/A                                             $0.00
            Shopping Center
-------------------------------------------------------------------------------------------------------------------------
 64         Shoppes at Brandon Farms         $0.00         $0.00    N/A                                             $0.00
-------------------------------------------------------------------------------------------------------------------------
 65         Court Street Plaza               $0.00         $0.00    N/A                                             $0.00
            Shopping Center
-------------------------------------------------------------------------------------------------------------------------

                                                          B-1-8
</TABLE>

<PAGE>

                                                                         Initial
                                                                          Debt
                                                                         Service
 #  Crossed Loan Name                  Initial Other Reserve Description Reserve
--------------------------------------------------------------------------------
 67         300 Alexander Park         N/A                                $0.00
--------------------------------------------------------------------------------
 68         4861 & 4891 Telsa Drive    N/A                                $0.00
--------------------------------------------------------------------------------
 69         Longview Meadow Apartments N/A                                $0.00
--------------------------------------------------------------------------------
 70         8501 LaSalle Road          N/A                                $0.00
--------------------------------------------------------------------------------
 71         Trestles of Baytown        N/A                                $0.00
            Apartments
--------------------------------------------------------------------------------
 72         Santa Fe Place Apartments  N/A                                $0.00
--------------------------------------------------------------------------------
 73         Plumtree Professional      N/A                                $0.00
            Center
--------------------------------------------------------------------------------
 75         Canyon Woods Apartments    N/A                                $0.00
--------------------------------------------------------------------------------
 76         Grove Street               N/A                                $0.00
--------------------------------------------------------------------------------
 78         Ashley Park Apartments     N/A                                $0.00
--------------------------------------------------------------------------------
 79         Rosemont Retail Center     N/A                                $0.00
--------------------------------------------------------------------------------
 81         Cardinal Shopping Center   N/A                                $0.00
--------------------------------------------------------------------------------
 82         Grogan's Mill Village      N/A                                $0.00
            Center
--------------------------------------------------------------------------------
 83         Atlas Valley Shopping      Zoning escrow for purposes of      $0.00
            Center                     securing the installation of
                                       slate on the premises to comply
                                       with zoning
--------------------------------------------------------------------------------
 84         Heights Garden Apartments  N/A                                $0.00
--------------------------------------------------------------------------------
 85         Radnor Towers Apartments   Terrorism Insurance Escrow         $0.00
--------------------------------------------------------------------------------
 87         10 Canebrake Boulevard     N/A                                $0.00
--------------------------------------------------------------------------------
 88         The Forest Apartments      N/A                                $0.00
--------------------------------------------------------------------------------
 89         Gristedes - 3rd Ave. and   Common Charge Impound Reserve      $0.00
            36th Street
--------------------------------------------------------------------------------
 90         111 & 121 Roberts Street   N/A                                $0.00
--------------------------------------------------------------------------------
 91         Richland Village Shopping  N/A                                $0.00
            Center
--------------------------------------------------------------------------------
 92         Pacific West Apartments    N/A                                $0.00
--------------------------------------------------------------------------------
 93         Atrium Medical Office      N/A                                $0.00
            Building
--------------------------------------------------------------------------------
 94         Wingate Inn Fayetteville   N/A                                $0.00
--------------------------------------------------------------------------------
 95         Millside Building          N/A                                $0.00
--------------------------------------------------------------------------------
100         Market at Southern Pines   N/A                                $0.00
--------------------------------------------------------------------------------
101         Palm Shadows MH & RV Park  N/A                           $63,000.00
--------------------------------------------------------------------------------
103         Anderson Oaks Mobile Home  N/A                                $0.00
            Park
--------------------------------------------------------------------------------
108         Magic Valley Park          N/A                           $80,000.00
--------------------------------------------------------------------------------
109         River Park Apartments      N/A                                $0.00
--------------------------------------------------------------------------------
110         Portway Plaza Office       Certificate Reserve                $0.00
            Building
--------------------------------------------------------------------------------
111         Marigold Apartments        Terrorism Policy Reserve           $0.00
--------------------------------------------------------------------------------
112         Carlton Apartments         N/A                                $0.00
--------------------------------------------------------------------------------
113   (D)   Ramey's Mobile Home Park   N/A                                $0.00
--------------------------------------------------------------------------------
114   (D)   Bexley Mobile Home Park    N/A                                $0.00
--------------------------------------------------------------------------------
117         Lincoln Professional Plaza N/A                                $0.00
--------------------------------------------------------------------------------
118         Santa Grande Mobile Home   N/A                                $0.00
            Park
--------------------------------------------------------------------------------
119         301 N. Brand Blvd.         N/A                                $0.00
--------------------------------------------------------------------------------
120         Tropicana Del Este         N/A                                $0.00
            Apartments
--------------------------------------------------------------------------------
123         Sundance Village MHP       N/A                                $0.00
--------------------------------------------------------------------------------
124         University Plaza           N/A                                $0.00
--------------------------------------------------------------------------------
125         Campbell Station Shopping  N/A                                $0.00
            Center
--------------------------------------------------------------------------------
126         Southwest Storage          N/A                                $0.00
--------------------------------------------------------------------------------
129         Greenbriar MHP             N/A                                $0.00
--------------------------------------------------------------------------------
130         Trafalgar Square           N/A                           $23,089.43
            Apartments
--------------------------------------------------------------------------------
131         Queens Lane Apartments     N/A                                $0.00
--------------------------------------------------------------------------------
133         327 East 52nd Street       N/A                                $0.00
--------------------------------------------------------------------------------
134         Naples Place IV            N/A                                $0.00
--------------------------------------------------------------------------------
135         Park City Shopping Center  N/A                                $0.00
--------------------------------------------------------------------------------
136         Kennesaw Promenade         N/A                                $0.00
--------------------------------------------------------------------------------
137         Lakewood Village - FL      N/A                                $0.00
--------------------------------------------------------------------------------
139         2317-2335 Market Street    N/A                                $0.00
--------------------------------------------------------------------------------
140         Gloucester Apartments      N/A                                $0.00
--------------------------------------------------------------------------------
141         Bayou Villa Apartments     Occupancy and Repair Reserve       $0.00
--------------------------------------------------------------------------------

<TABLE>
<CAPTION>
                                         Initial
                                       Replacement    Letter of                                                  Earnout
 #  Crossed Loan Name                    Reserve       Credit              Letter of Credit Description          Reserve
-------------------------------------------------------------------------------------------------------------------------
<S> <C>     <C>                               <C>     <C>            <C>                                       <C>
 67         300 Alexander Park                $0.00         $0.00    N/A                                             $0.00
--------------------------------------------------------------------------------------------------------------------------
 68         4861 & 4891 Telsa Drive           $0.00         $0.00    N/A                                             $0.00
--------------------------------------------------------------------------------------------------------------------------
 69         Longview Meadow Apartments        $0.00         $0.00    N/A                                             $0.00
--------------------------------------------------------------------------------------------------------------------------
 70         8501 LaSalle Road                 $0.00         $0.00    N/A                                             $0.00
--------------------------------------------------------------------------------------------------------------------------
 71         Trestles of Baytown               $0.00         $0.00    N/A                                             $0.00
            Apartments
--------------------------------------------------------------------------------------------------------------------------
 72         Santa Fe Place Apartments         $0.00         $0.00    N/A                                             $0.00
--------------------------------------------------------------------------------------------------------------------------
 73         Plumtree Professional             $0.00         $0.00    N/A                                             $0.00
            Center
--------------------------------------------------------------------------------------------------------------------------
 75         Canyon Woods Apartments           $0.00         $0.00    N/A                                             $0.00
--------------------------------------------------------------------------------------------------------------------------
 76         Grove Street                      $0.00   $185,000.00    Earnout Reserve LOC                             $0.00
--------------------------------------------------------------------------------------------------------------------------
 78         Ashley Park Apartments            $0.00         $0.00    N/A                                             $0.00
--------------------------------------------------------------------------------------------------------------------------
 79         Rosemont Retail Center            $0.00         $0.00    N/A                                       $750,000.00
--------------------------------------------------------------------------------------------------------------------------
 81         Cardinal Shopping Center          $0.00         $0.00    N/A                                             $0.00
--------------------------------------------------------------------------------------------------------------------------
 82         Grogan's Mill Village             $0.00         $0.00    N/A                                             $0.00
            Center
--------------------------------------------------------------------------------------------------------------------------
 83         Atlas Valley Shopping             $0.00         $0.00    N/A                                             $0.00
            Center
--------------------------------------------------------------------------------------------------------------------------
 84         Heights Garden Apartments         $0.00         $0.00    N/A                                             $0.00
--------------------------------------------------------------------------------------------------------------------------
 85         Radnor Towers Apartments          $0.00         $0.00    N/A                                             $0.00
--------------------------------------------------------------------------------------------------------------------------
 87         10 Canebrake Boulevard            $0.00         $0.00    N/A                                             $0.00
--------------------------------------------------------------------------------------------------------------------------
 88         The Forest Apartments             $0.00         $0.00    N/A                                             $0.00
--------------------------------------------------------------------------------------------------------------------------
 89         Gristedes - 3rd Ave. and          $0.00         $0.00    N/A                                             $0.00
            36th Street
--------------------------------------------------------------------------------------------------------------------------
 90         111 & 121 Roberts Street          $0.00         $0.00    N/A                                             $0.00
--------------------------------------------------------------------------------------------------------------------------
 91         Richland Village Shopping         $0.00         $0.00    N/A                                       $150,000.00
            Center
--------------------------------------------------------------------------------------------------------------------------
 92         Pacific West Apartments           $0.00         $0.00    N/A                                             $0.00
--------------------------------------------------------------------------------------------------------------------------
 93         Atrium Medical Office             $0.00         $0.00    N/A                                             $0.00
            Building
--------------------------------------------------------------------------------------------------------------------------
 94         Wingate Inn Fayetteville          $0.00         $0.00    N/A                                             $0.00
--------------------------------------------------------------------------------------------------------------------------
 95         Millside Building                 $0.00         $0.00    N/A                                             $0.00
--------------------------------------------------------------------------------------------------------------------------
100         Market at Southern Pines          $0.00         $0.00    N/A                                             $0.00
--------------------------------------------------------------------------------------------------------------------------
101         Palm Shadows MH & RV Park         $0.00         $0.00    N/A                                             $0.00
--------------------------------------------------------------------------------------------------------------------------
103         Anderson Oaks Mobile Home         $0.00         $0.00    N/A                                             $0.00
            Park
--------------------------------------------------------------------------------------------------------------------------
108         Magic Valley Park                 $0.00         $0.00    N/A                                             $0.00
--------------------------------------------------------------------------------------------------------------------------
109         River Park Apartments             $0.00         $0.00    N/A                                             $0.00
--------------------------------------------------------------------------------------------------------------------------
110         Portway Plaza Office              $0.00         $0.00    N/A                                             $0.00
            Building
--------------------------------------------------------------------------------------------------------------------------
111         Marigold Apartments               $0.00         $0.00    N/A                                             $0.00
--------------------------------------------------------------------------------------------------------------------------
112         Carlton Apartments                $0.00         $0.00    N/A                                             $0.00
--------------------------------------------------------------------------------------------------------------------------
113   (D)   Ramey's Mobile Home Park          $0.00         $0.00    N/A                                             $0.00
--------------------------------------------------------------------------------------------------------------------------
114   (D)   Bexley Mobile Home Park           $0.00         $0.00    N/A                                             $0.00
--------------------------------------------------------------------------------------------------------------------------
117         Lincoln Professional Plaza        $0.00         $0.00    N/A                                             $0.00
--------------------------------------------------------------------------------------------------------------------------
118         Santa Grande Mobile Home          $0.00         $0.00    N/A                                             $0.00
            Park
--------------------------------------------------------------------------------------------------------------------------
119         301 N. Brand Blvd.                $0.00         $0.00    N/A                                             $0.00
--------------------------------------------------------------------------------------------------------------------------
120         Tropicana Del Este                $0.00         $0.00    N/A                                             $0.00
            Apartments
--------------------------------------------------------------------------------------------------------------------------
123         Sundance Village MHP              $0.00         $0.00    N/A                                             $0.00
--------------------------------------------------------------------------------------------------------------------------
124         University Plaza                  $0.00         $0.00    N/A                                             $0.00
--------------------------------------------------------------------------------------------------------------------------
125         Campbell Station Shopping         $0.00         $0.00    N/A                                             $0.00
            Center
--------------------------------------------------------------------------------------------------------------------------
126         Southwest Storage                 $0.00         $0.00    N/A                                             $0.00
--------------------------------------------------------------------------------------------------------------------------
129         Greenbriar MHP                    $0.00         $0.00    N/A                                             $0.00
--------------------------------------------------------------------------------------------------------------------------
130         Trafalgar Square                  $0.00         $0.00    N/A                                             $0.00
            Apartments
--------------------------------------------------------------------------------------------------------------------------
131         Queens Lane Apartments            $0.00         $0.00    N/A                                             $0.00
--------------------------------------------------------------------------------------------------------------------------
133         327 East 52nd Street              $0.00         $0.00    N/A                                             $0.00
--------------------------------------------------------------------------------------------------------------------------
134         Naples Place IV                   $0.00         $0.00    N/A                                             $0.00
--------------------------------------------------------------------------------------------------------------------------
135         Park City Shopping Center         $0.00         $0.00    N/A                                             $0.00
--------------------------------------------------------------------------------------------------------------------------
136         Kennesaw Promenade                $0.00         $0.00    N/A                                             $0.00
--------------------------------------------------------------------------------------------------------------------------
137         Lakewood Village - FL             $0.00         $0.00    N/A                                             $0.00
--------------------------------------------------------------------------------------------------------------------------
139         2317-2335 Market Street           $0.00         $0.00    N/A                                         $6,812.50
--------------------------------------------------------------------------------------------------------------------------
140         Gloucester Apartments             $0.00         $0.00    N/A                                             $0.00
--------------------------------------------------------------------------------------------------------------------------
141         Bayou Villa Apartments            $0.00         $0.00    N/A                                             $0.00
--------------------------------------------------------------------------------------------------------------------------

                                                          B-1-9
</TABLE>

<PAGE>

                                                                         Initial
                                                                          Debt
                                                                         Service
 #  Crossed Loan Name                  Initial Other Reserve Description Reserve
--------------------------------------------------------------------------------
142         South Michigan Avenue      N/A                                $0.00
            Office Building
--------------------------------------------------------------------------------
143         Gateway Retail Center      Java Connection TI Reserve held    $0.00
                                       by CT Escrow Services, LLC
--------------------------------------------------------------------------------
144         Murphy Retail Center       N/A                                $0.00
--------------------------------------------------------------------------------
145         Anaheim Street Retail      N/A                                $0.00
            Center
--------------------------------------------------------------------------------
146         Park Street Retail         N/A                                $0.00
--------------------------------------------------------------------------------
147         Sprinkle Ridge Apartments  N/A                                $0.00
--------------------------------------------------------------------------------
148         Melonie Square             N/A                                $0.00
--------------------------------------------------------------------------------
149         7000 North Freeway         N/A                                $0.00
--------------------------------------------------------------------------------
150         Sunny Isle Apartments      N/A                                $0.00
--------------------------------------------------------------------------------
151         Nichols Station I          N/A                                $0.00
            Apartments
--------------------------------------------------------------------------------
152         Biddeford Apartments       N/A                                $0.00
--------------------------------------------------------------------------------
153         Mount Vernon Apartments    N/A                                $0.00
--------------------------------------------------------------------------------
154         Cambridge Estates Apts     N/A                                $0.00
            (Phase III)
--------------------------------------------------------------------------------
155         South Ynez Apartments      N/A                                $0.00
--------------------------------------------------------------------------------
156         Colorado Square / Medlin   N/A                                $0.00
            Place Apartments
--------------------------------------------------------------------------------
157         Country Oaks Mobile Home   N/A                                $0.00
            Park
--------------------------------------------------------------------------------
158         Greenville Retail Center   N/A                                $0.00
--------------------------------------------------------------------------------
159         Cliffview Crossing         Lease Termination Debt Service     $0.00
--------------------------------------------------------------------------------
160         Grove Apartments           N/A                                $0.00
--------------------------------------------------------------------------------
161         Greentree Apartments       N/A                                $0.00
--------------------------------------------------------------------------------
162         Coachlite Apartments       N/A                                $0.00
--------------------------------------------------------------------------------
163         Northgate Terrace I        N/A                                $0.00
            Apartments
--------------------------------------------------------------------------------
164         150 Broad Street           N/A                                $0.00
--------------------------------------------------------------------------------
165         Sunset Avenue Apartments   N/A                                $0.00
--------------------------------------------------------------------------------
166         Classic Village            N/A                                $0.00
--------------------------------------------------------------------------------
167         Knox Landing Apartments    N/A                                $0.00
--------------------------------------------------------------------------------
168         1013 West Linden Street    N/A                                $0.00
--------------------------------------------------------------------------------
169         Ledgewood Mobile Home Park N/A                                $0.00
--------------------------------------------------------------------------------
170         83 Elizabeth Street        N/A                                $0.00
--------------------------------------------------------------------------------
171         1235 Elm Street            N/A                                $0.00
--------------------------------------------------------------------------------
116A        El Valle del Sol           N/A                           $69,230.70
--------------------------------------------------------------------------------
116B        El Valle de la Luna        N/A                           $20,769.30
--------------------------------------------------------------------------------
132A        San Juan Gardens           N/A                            $6,035.90
--------------------------------------------------------------------------------
132B        Friendly Village           N/A                            $3,964.10
--------------------------------------------------------------------------------

<TABLE>
<CAPTION>
                                         Initial
                                       Replacement    Letter of                                                  Earnout
 #  Crossed Loan Name                    Reserve       Credit              Letter of Credit Description          Reserve
-------------------------------------------------------------------------------------------------------------------------
<S> <C>     <C>                               <C>           <C>      <C>                                             <C>
142         South Michigan Avenue             $0.00         $0.00    N/A                                             $0.00
            Office Building
--------------------------------------------------------------------------------------------------------------------------
143         Gateway Retail Center             $0.00         $0.00    N/A                                             $0.00
--------------------------------------------------------------------------------------------------------------------------
144         Murphy Retail Center              $0.00         $0.00    N/A                                             $0.00
--------------------------------------------------------------------------------------------------------------------------
145         Anaheim Street Retail             $0.00         $0.00    N/A                                             $0.00
            Center
--------------------------------------------------------------------------------------------------------------------------
146         Park Street Retail                $0.00         $0.00    N/A                                             $0.00
--------------------------------------------------------------------------------------------------------------------------
147         Sprinkle Ridge Apartments         $0.00         $0.00    N/A                                             $0.00
--------------------------------------------------------------------------------------------------------------------------
148         Melonie Square                    $0.00         $0.00    N/A                                             $0.00
--------------------------------------------------------------------------------------------------------------------------
149         7000 North Freeway                $0.00         $0.00    N/A                                             $0.00
--------------------------------------------------------------------------------------------------------------------------
150         Sunny Isle Apartments             $0.00         $0.00    N/A                                             $0.00
--------------------------------------------------------------------------------------------------------------------------
151         Nichols Station I                 $0.00         $0.00    N/A                                             $0.00
            Apartments
--------------------------------------------------------------------------------------------------------------------------
152         Biddeford Apartments              $0.00         $0.00    N/A                                             $0.00
--------------------------------------------------------------------------------------------------------------------------
153         Mount Vernon Apartments           $0.00         $0.00    N/A                                             $0.00
--------------------------------------------------------------------------------------------------------------------------
154         Cambridge Estates Apts            $0.00         $0.00    N/A                                             $0.00
            (Phase III)
--------------------------------------------------------------------------------------------------------------------------
155         South Ynez Apartments             $0.00         $0.00    N/A                                             $0.00
--------------------------------------------------------------------------------------------------------------------------
156         Colorado Square / Medlin          $0.00         $0.00    N/A                                             $0.00
            Place Apartments
--------------------------------------------------------------------------------------------------------------------------
157         Country Oaks Mobile Home          $0.00         $0.00    N/A                                             $0.00
            Park
--------------------------------------------------------------------------------------------------------------------------
158         Greenville Retail Center          $0.00         $0.00    N/A                                             $0.00
--------------------------------------------------------------------------------------------------------------------------
159         Cliffview Crossing                $0.00         $0.00    N/A                                             $0.00
--------------------------------------------------------------------------------------------------------------------------
160         Grove Apartments                  $0.00         $0.00    N/A                                             $0.00
--------------------------------------------------------------------------------------------------------------------------
161         Greentree Apartments              $0.00         $0.00    N/A                                             $0.00
--------------------------------------------------------------------------------------------------------------------------
162         Coachlite Apartments              $0.00         $0.00    N/A                                             $0.00
--------------------------------------------------------------------------------------------------------------------------
163         Northgate Terrace I               $0.00         $0.00    N/A                                             $0.00
            Apartments
--------------------------------------------------------------------------------------------------------------------------
164         150 Broad Street                  $0.00         $0.00    N/A                                             $0.00
--------------------------------------------------------------------------------------------------------------------------
165         Sunset Avenue Apartments          $0.00         $0.00    N/A                                             $0.00
--------------------------------------------------------------------------------------------------------------------------
166         Classic Village                   $0.00         $0.00    N/A                                             $0.00
--------------------------------------------------------------------------------------------------------------------------
167         Knox Landing Apartments           $0.00         $0.00    N/A                                             $0.00
--------------------------------------------------------------------------------------------------------------------------
168         1013 West Linden Street           $0.00         $0.00    N/A                                             $0.00
--------------------------------------------------------------------------------------------------------------------------
169         Ledgewood Mobile Home Park        $0.00         $0.00    N/A                                             $0.00
--------------------------------------------------------------------------------------------------------------------------
170         83 Elizabeth Street               $0.00         $0.00    N/A                                             $0.00
--------------------------------------------------------------------------------------------------------------------------
171         1235 Elm Street                   $0.00         $0.00    N/A                                             $0.00
--------------------------------------------------------------------------------------------------------------------------
116A        El Valle del Sol                  $0.00         $0.00    N/A                                             $0.00
--------------------------------------------------------------------------------------------------------------------------
116B        El Valle de la Luna               $0.00         $0.00    N/A                                             $0.00
--------------------------------------------------------------------------------------------------------------------------
132A        San Juan Gardens                  $0.00         $0.00    N/A                                             $0.00
--------------------------------------------------------------------------------------------------------------------------
132B        Friendly Village                  $0.00         $0.00    N/A                                             $0.00
--------------------------------------------------------------------------------------------------------------------------

                                                           B-1-10
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
 #  Crossed Loan Name                                      Earnout                      Additional
                                                           Reserve                      Collateral
                                                         Description                      Amount
-----------------------------------------------------------------------------------------------------
<S>   <C>   <C>                        <C>                                             <C>
 1          Circle Centre Mall         N/A                                             N/A
-----------------------------------------------------------------------------------------------------
 2          Wanamaker Building -       N/A                                             N/A
            Office
-----------------------------------------------------------------------------------------------------
 4    (A)   Mira Mesa Market Center    N/A
            West                                                                       N/A
-----------------------------------------------------------------------------------------------------
 5    (A)   Mira Mesa Market Center    N/A
            East                                                                       N/A
-----------------------------------------------------------------------------------------------------
 6    (B)   PCCP - Commerce Centre     N/A                                             N/A
-----------------------------------------------------------------------------------------------------
 7    (B)   PCCP - Paramount           N/A
            Distribution Center                                                        N/A
-----------------------------------------------------------------------------------------------------
 8    (B)   PCCP - 301 Walnut          N/A                                             N/A
-----------------------------------------------------------------------------------------------------
 9A         Mayfair Mall - Retail      N/A                                             N/A
-----------------------------------------------------------------------------------------------------
 9B         Mayfair Mall - Office      N/A
            Complex                                                                    N/A
-----------------------------------------------------------------------------------------------------
 10         540 Madison Avenue         N/A                                             N/A
-----------------------------------------------------------------------------------------------------
 11         Town & Country Apartments  N/A
            - Urbana                                                                   N/A
-----------------------------------------------------------------------------------------------------
 16   (C)   Red Lion Hotel Port        N/A
            Angeles                                                                    N/A
-----------------------------------------------------------------------------------------------------
 17   (C)   Red Lion Hotel Yakima      N/A
            Center                                                                     N/A
-----------------------------------------------------------------------------------------------------
 18   (C)   Red Lion Hotel Eureka      N/A                                             N/A
-----------------------------------------------------------------------------------------------------
 19   (C)   Red Lion Hotel Twin Falls  N/A                                             N/A
-----------------------------------------------------------------------------------------------------
 20   (C)   Red Lion Hotel Kennewick   N/A                                             N/A
-----------------------------------------------------------------------------------------------------
 21         Arlington & Bradley        N/A
            Office Center                                                              N/A
-----------------------------------------------------------------------------------------------------
 23         780 James P. Casey Road    N/A                                             N/A
-----------------------------------------------------------------------------------------------------
 24         800 Apollo                 N/A                                             N/A
-----------------------------------------------------------------------------------------------------
 25         Regent Industrial Center   N/A                                             N/A
-----------------------------------------------------------------------------------------------------
 26         Sarasota Gateway           N/A                                             N/A
-----------------------------------------------------------------------------------------------------
 27         Bristol Farms Apartments   N/A                                             N/A
-----------------------------------------------------------------------------------------------------
 28         Country View Mobile Home   N/A
            Park                                                                       N/A
-----------------------------------------------------------------------------------------------------
 29         University Commons         N/A                                             N/A
-----------------------------------------------------------------------------------------------------
 30         Princeton Square           N/A
            Apartments                                                                 N/A
-----------------------------------------------------------------------------------------------------
 31         Burlington Center Mall     N/A                                             N/A
-----------------------------------------------------------------------------------------------------
 32         Club at Tranquility Lake   N/A                                             N/A
-----------------------------------------------------------------------------------------------------
 33         Warner Center Business     N/A
            Park                                                                       N/A
-----------------------------------------------------------------------------------------------------
 34         Expressway Mall            N/A
                                                                                       $300,000.00
-----------------------------------------------------------------------------------------------------
 35         Airline Shopping Center    N/A                                             $200,000.00

-----------------------------------------------------------------------------------------------------
 36         Windward Village Shopping  Release upon: i) Occupancy of 96%; ii) Monthly  $1,000,000.00
            Center                     rental income of at least $105,000; iii) DSCR
                                       of 1.43; Executed leases totaling 5,868 sf w/
                                       rental rate no less than $22 psf for min. term
                                       of 3 years.

-----------------------------------------------------------------------------------------------------
 37         Playa Blanca Apartments    N/A                                             N/A
-----------------------------------------------------------------------------------------------------
 38         Torrey View Corporate      N/A
            Center                                                                     N/A
-----------------------------------------------------------------------------------------------------
 41         The Moorings Apartments    N/A                                             N/A
-----------------------------------------------------------------------------------------------------
 42         5th & Lamar Retail/Office  Release upon: i) Garage/Retail improvements     $550,000.00
            Development                shall be fully completed; ii) OfficeMax
                                       Confirmation verifying all OfficeMax Payments
                                       have been paid.
-----------------------------------------------------------------------------------------------------
 43         American Village on the    N/A                                             N/A
            Lake Apartments
-----------------------------------------------------------------------------------------------------
 44         Ryan's Pointe Apartments   N/A                                             N/A
-----------------------------------------------------------------------------------------------------
 45         Cleveland Street Square    N/A                                             N/A
-----------------------------------------------------------------------------------------------------
 47         Rivermont Apartments       N/A                                             N/A
-----------------------------------------------------------------------------------------------------
 50         Westover Gallery Shopping  N/A
            Center                                                                     N/A
-----------------------------------------------------------------------------------------------------
 53         Trestles of Houston        N/A
            Apartments                                                                 N/A
-----------------------------------------------------------------------------------------------------
 54         Pemstar, Inc. Headquarters N/A                                             N/A
-----------------------------------------------------------------------------------------------------
 56         Riverbend Apartments       N/A                                             N/A
-----------------------------------------------------------------------------------------------------
 57         D'Adrian Meadows           N/A
            Apartments                                                                 N/A
-----------------------------------------------------------------------------------------------------
 58         Park Place                 N/A                                             N/A
-----------------------------------------------------------------------------------------------------
 59         Millstone Lakes Apartments N/A                                             N/A
-----------------------------------------------------------------------------------------------------
 61         Aspen Woods                N/A                                             N/A
-----------------------------------------------------------------------------------------------------
 62         Iliff Commons Shopping     N/A
            Center                                                                     N/A
-----------------------------------------------------------------------------------------------------
 63         Atlantic Boulevard         N/A
            Shopping Center                                                            N/A
-----------------------------------------------------------------------------------------------------

<CAPTION>

 #  Crossed Loan Name                  Additional               Additional                Exisiting
                                       Collateral               Collateral                Secondary
                                       Event Date               Description               Financing
----------------------------------------------------------------------------------------------------
<S>   <C>   <C>                        <C>        <C>                                    <C>
 1          Circle Centre Mall         N/A        N/A                                        N/A
----------------------------------------------------------------------------------------------------
 2          Wanamaker Building -       N/A        N/A                                    $16,000,000
            Office
----------------------------------------------------------------------------------------------------
 4    (A)   Mira Mesa Market Center
            West                       N/A        N/A                                        N/A
----------------------------------------------------------------------------------------------------
 5    (A)   Mira Mesa Market Center
            East                       N/A        N/A                                        N/A
----------------------------------------------------------------------------------------------------
 6    (B)   PCCP - Commerce Centre     N/A        N/A                                        N/A
----------------------------------------------------------------------------------------------------
 7    (B)   PCCP - Paramount
            Distribution Center        N/A        N/A                                        N/A
----------------------------------------------------------------------------------------------------
 8    (B)   PCCP - 301 Walnut          N/A        N/A                                        N/A
----------------------------------------------------------------------------------------------------
 9A         Mayfair Mall - Retail      N/A        N/A                                        N/A
----------------------------------------------------------------------------------------------------
 9B         Mayfair Mall - Office
            Complex                    N/A        N/A                                        N/A
----------------------------------------------------------------------------------------------------
 10         540 Madison Avenue         N/A        N/A                                        N/A
----------------------------------------------------------------------------------------------------
 11         Town & Country Apartments
            - Urbana                   N/A        N/A                                        N/A
----------------------------------------------------------------------------------------------------
 16   (C)   Red Lion Hotel Port
            Angeles                    N/A        N/A                                        N/A
----------------------------------------------------------------------------------------------------
 17   (C)   Red Lion Hotel Yakima
            Center                     N/A        N/A                                        N/A
----------------------------------------------------------------------------------------------------
 18   (C)   Red Lion Hotel Eureka      N/A        N/A                                        N/A
----------------------------------------------------------------------------------------------------
 19   (C)   Red Lion Hotel Twin Falls  N/A        N/A                                        N/A
----------------------------------------------------------------------------------------------------
 20   (C)   Red Lion Hotel Kennewick   N/A        N/A                                        N/A
----------------------------------------------------------------------------------------------------
 21         Arlington & Bradley
            Office Center              N/A        N/A                                     $6,000,000
----------------------------------------------------------------------------------------------------
 23         780 James P. Casey Road    N/A        N/A                                        N/A
----------------------------------------------------------------------------------------------------
 24         800 Apollo                 N/A        N/A                                        N/A
----------------------------------------------------------------------------------------------------
 25         Regent Industrial Center   N/A        N/A                                        N/A
----------------------------------------------------------------------------------------------------
 26         Sarasota Gateway           N/A        N/A                                        N/A
----------------------------------------------------------------------------------------------------
 27         Bristol Farms Apartments   N/A        N/A                                        N/A
----------------------------------------------------------------------------------------------------
 28         Country View Mobile Home
            Park                       N/A        N/A                                        N/A
----------------------------------------------------------------------------------------------------
 29         University Commons         N/A        N/A                                        N/A
----------------------------------------------------------------------------------------------------
 30         Princeton Square
            Apartments                 N/A        N/A                                     $906,000
----------------------------------------------------------------------------------------------------
 31         Burlington Center Mall     N/A        N/A                                        N/A
----------------------------------------------------------------------------------------------------
 32         Club at Tranquility Lake   N/A        N/A                                        N/A
----------------------------------------------------------------------------------------------------
 33         Warner Center Business
            Park                       N/A        N/A                                        N/A
----------------------------------------------------------------------------------------------------
 34         Expressway Mall                       Release upon: i) DSCR of 1.35, ii)
                                       3/12/2004  Gross Income of $1,700,000                 N/A
----------------------------------------------------------------------------------------------------
 35         Airline Shopping Center    12/31/2004 Release upon: i) DSCR <= 1.20, ii)         N/A
                                                  satisfactory lease
                                                  with Goodyear Tire
                                                  and iii) receipt of
                                                  tenant estoppel for
                                                  Goodyear Tire.
----------------------------------------------------------------------------------------------------
 36         Windward Village Shopping  10/14/2004 Release upon: i) Occupancy of 96%; ii)     N/A
            Center                                Monthly rental income of at least
                                                  $105,000; iii) DSCR of 1.43; Executed
                                                  leases totaling 5,868 sf w/ rental
                                                  rate no less than $22 psf for min.
                                                  term of 3 years.
----------------------------------------------------------------------------------------------------
 37         Playa Blanca Apartments    N/A        N/A                                        N/A
----------------------------------------------------------------------------------------------------
 38         Torrey View Corporate
            Center                     N/A        N/A                                        N/A
----------------------------------------------------------------------------------------------------
 41         The Moorings Apartments    N/A        N/A                                        N/A
----------------------------------------------------------------------------------------------------
 42         5th & Lamar Retail/Office  6/9/2004   Release upon: i) Garage/Retail             N/A
            Development                           improvements shall be fully completed;
                                                  ii) OfficeMax Confirmation verifying
                                                  all OfficeMax Payments have been paid
----------------------------------------------------------------------------------------------------
 43         American Village on the    N/A        N/A                                        N/A
            Lake Apartments
----------------------------------------------------------------------------------------------------
 44         Ryan's Pointe Apartments   N/A        N/A                                     $600,000
----------------------------------------------------------------------------------------------------
 45         Cleveland Street Square    N/A        N/A                                        N/A
----------------------------------------------------------------------------------------------------
 47         Rivermont Apartments       N/A        N/A                                        N/A
----------------------------------------------------------------------------------------------------
 50         Westover Gallery Shopping
            Center                     N/A        N/A                                        N/A
----------------------------------------------------------------------------------------------------
 53         Trestles of Houston
            Apartments                 N/A        N/A                                        N/A
----------------------------------------------------------------------------------------------------
 54         Pemstar, Inc. Headquarters N/A        N/A                                        N/A
----------------------------------------------------------------------------------------------------
 56         Riverbend Apartments       N/A        N/A                                        N/A
----------------------------------------------------------------------------------------------------
 57         D'Adrian Meadows
            Apartments                 N/A        N/A                                        N/A
----------------------------------------------------------------------------------------------------
 58         Park Place                 N/A        N/A                                        N/A
----------------------------------------------------------------------------------------------------
 59         Millstone Lakes Apartments N/A        N/A                                        N/A
----------------------------------------------------------------------------------------------------
 61         Aspen Woods                N/A        N/A                                        N/A
----------------------------------------------------------------------------------------------------
 62         Iliff Commons Shopping
            Center                     N/A        N/A                                        N/A
----------------------------------------------------------------------------------------------------
 63         Atlantic Boulevard
            Shopping Center            N/A        N/A                                        N/A
----------------------------------------------------------------------------------------------------

                                               B-1-11
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
 #  Crossed Loan Name                                      Earnout                      Additional
                                                           Reserve                      Collateral
                                                         Description                      Amount
--------------------------------------------------------------------------------------------------
<S> <C>     <C>                        <C>                                             <C>
 64         Shoppes at Brandon Farms   N/A                                             N/A
--------------------------------------------------------------------------------------------------
 65         Court Street Plaza         N/A
            Shopping Center                                                            N/A
--------------------------------------------------------------------------------------------------
 67         300 Alexander Park         N/A                                             N/A
--------------------------------------------------------------------------------------------------
 68         4861 & 4891 Telsa Drive    N/A                                             N/A
--------------------------------------------------------------------------------------------------
 69         Longview Meadow Apartments N/A                                             N/A
--------------------------------------------------------------------------------------------------
 70         8501 LaSalle Road          N/A                                             N/A
--------------------------------------------------------------------------------------------------
 71         Trestles of Baytown        N/A
            Apartments                                                                 N/A
--------------------------------------------------------------------------------------------------
 72         Santa Fe Place Apartments  N/A                                             N/A
--------------------------------------------------------------------------------------------------
 73         Plumtree Professional      N/A
            Center                                                                     N/A
--------------------------------------------------------------------------------------------------
 75         Canyon Woods Apartments    N/A                                             N/A
--------------------------------------------------------------------------------------------------
 76         Grove Street               N/A                                             N/A
--------------------------------------------------------------------------------------------------
 78         Ashley Park Apartments     N/A                                             N/A
--------------------------------------------------------------------------------------------------
 79         Rosemont Retail Center     Release upon: i) estoppel certificate for       N/A
                                       Starbucks lease, ii) issuance of original
                                       subordination, non-disturbance and attornment
                                       agreement by Starbucks, iii) cancelled check
                                       reflecting minimum rent.
--------------------------------------------------------------------------------------------------
 81         Cardinal Shopping Center   N/A                                             N/A
--------------------------------------------------------------------------------------------------
 82         Grogan's Mill Village      N/A
            Center                                                                     N/A
--------------------------------------------------------------------------------------------------
 83         Atlas Valley Shopping      N/A
            Center                                                                     N/A
--------------------------------------------------------------------------------------------------
 84         Heights Garden Apartments  N/A                                             N/A
--------------------------------------------------------------------------------------------------
 85         Radnor Towers Apartments   N/A                                             N/A
--------------------------------------------------------------------------------------------------
 87         10 Canebrake Boulevard     N/A                                             N/A
--------------------------------------------------------------------------------------------------
 88         The Forest Apartments      N/A                                             N/A
--------------------------------------------------------------------------------------------------
 89         Gristedes - 3rd Ave. and   N/A
            36th Street                                                                N/A
--------------------------------------------------------------------------------------------------
 90         111 & 121 Roberts Street   N/A                                             N/A
--------------------------------------------------------------------------------------------------
 91         Richland Village Shopping  Release upon: i) Completion of the Capital      $150,000.00
            Center                     Improvements, ii) Evidence that all parties
                                       have been paid for labor, iii) Invoices
                                       showing costs no less than $150,000, iv) Base
                                       rental income of $540,000, v) Vacancy no
                                       greater than 7%

--------------------------------------------------------------------------------------------------
 92         Pacific West Apartments    N/A                                             N/A
--------------------------------------------------------------------------------------------------
 93         Atrium Medical Office      N/A
            Building                                                                   N/A
--------------------------------------------------------------------------------------------------
 94         Wingate Inn Fayetteville   N/A                                             N/A
--------------------------------------------------------------------------------------------------
 95         Millside Building          N/A                                             N/A
--------------------------------------------------------------------------------------------------
100         Market at Southern Pines   N/A                                             N/A
--------------------------------------------------------------------------------------------------
101         Palm Shadows MH & RV Park  N/A                                             N/A
--------------------------------------------------------------------------------------------------
103         Anderson Oaks Mobile Home  N/A
            Park                                                                       N/A
--------------------------------------------------------------------------------------------------
108         Magic Valley Park          N/A                                             N/A
--------------------------------------------------------------------------------------------------
109         River Park Apartments      N/A                                             N/A
--------------------------------------------------------------------------------------------------
110         Portway Plaza Office       N/A
            Building                                                                   N/A
--------------------------------------------------------------------------------------------------
111         Marigold Apartments        N/A                                             N/A
--------------------------------------------------------------------------------------------------
112         Carlton Apartments         N/A                                             N/A
--------------------------------------------------------------------------------------------------
113   (D)   Ramey's Mobile Home Park   N/A                                             N/A
--------------------------------------------------------------------------------------------------
114   (D)   Bexley Mobile Home Park    N/A                                             N/A
--------------------------------------------------------------------------------------------------
117         Lincoln Professional Plaza N/A                                             N/A
--------------------------------------------------------------------------------------------------
118         Santa Grande Mobile Home   N/A
            Park                                                                       N/A
--------------------------------------------------------------------------------------------------
119         301 N. Brand Blvd.         N/A                                             N/A
--------------------------------------------------------------------------------------------------
120         Tropicana Del Este         N/A
            Apartments                                                                 N/A
--------------------------------------------------------------------------------------------------
123         Sundance Village MHP       N/A                                             N/A
--------------------------------------------------------------------------------------------------
124         University Plaza           N/A                                             N/A
--------------------------------------------------------------------------------------------------
125         Campbell Station Shopping  N/A
            Center                                                                     N/A
--------------------------------------------------------------------------------------------------
126         Southwest Storage          N/A                                             N/A
--------------------------------------------------------------------------------------------------
129         Greenbriar MHP             N/A                                             N/A
--------------------------------------------------------------------------------------------------
130         Trafalgar Square           N/A
            Apartments                                                                 N/A
--------------------------------------------------------------------------------------------------
131         Queens Lane Apartments     N/A                                             N/A
--------------------------------------------------------------------------------------------------
133         327 East 52nd Street       N/A                                             N/A
--------------------------------------------------------------------------------------------------
134         Naples Place IV            N/A                                             N/A
--------------------------------------------------------------------------------------------------

<CAPTION>

 #  Crossed Loan Name                  Additional               Additional                Exisiting
                                       Collateral               Collateral                Secondary
                                       Event Date               Description               Financing
----------------------------------------------------------------------------------------------------
<S> <C>     <C>                        <C>        <C>                                        <C>
 64         Shoppes at Brandon Farms   N/A        N/A                                        N/A
----------------------------------------------------------------------------------------------------
 65         Court Street Plaza
            Shopping Center            N/A        N/A                                        N/A
----------------------------------------------------------------------------------------------------
 67         300 Alexander Park         N/A        N/A                                        N/A
----------------------------------------------------------------------------------------------------
 68         4861 & 4891 Telsa Drive    N/A        N/A                                        N/A
----------------------------------------------------------------------------------------------------
 69         Longview Meadow Apartments N/A        N/A                                        N/A
----------------------------------------------------------------------------------------------------
 70         8501 LaSalle Road          N/A        N/A                                        N/A
----------------------------------------------------------------------------------------------------
 71         Trestles of Baytown
            Apartments                 N/A        N/A                                        N/A
----------------------------------------------------------------------------------------------------
 72         Santa Fe Place Apartments  N/A        N/A                                        N/A
----------------------------------------------------------------------------------------------------
 73         Plumtree Professional
            Center                     N/A        N/A                                        N/A
----------------------------------------------------------------------------------------------------
 75         Canyon Woods Apartments    N/A        N/A                                     $310,000
----------------------------------------------------------------------------------------------------
 76         Grove Street               N/A        N/A                                        N/A
----------------------------------------------------------------------------------------------------
 78         Ashley Park Apartments     N/A        N/A                                        N/A
----------------------------------------------------------------------------------------------------
 79         Rosemont Retail Center     N/A        N/A                                        N/A
----------------------------------------------------------------------------------------------------
 81         Cardinal Shopping Center   N/A        N/A                                        N/A
----------------------------------------------------------------------------------------------------
 82         Grogan's Mill Village
            Center                     N/A        N/A                                        N/A
----------------------------------------------------------------------------------------------------
 83         Atlas Valley Shopping
            Center                     N/A        N/A                                        N/A
----------------------------------------------------------------------------------------------------
 84         Heights Garden Apartments  N/A        N/A                                        N/A
----------------------------------------------------------------------------------------------------
 85         Radnor Towers Apartments   N/A        N/A                                        N/A
----------------------------------------------------------------------------------------------------
 87         10 Canebrake Boulevard     N/A        N/A                                        N/A
----------------------------------------------------------------------------------------------------
 88         The Forest Apartments      N/A        N/A                                        N/A
----------------------------------------------------------------------------------------------------
 89         Gristedes - 3rd Ave. and
            36th Street                N/A        N/A                                        N/A
----------------------------------------------------------------------------------------------------
 90         111 & 121 Roberts Street   N/A        N/A                                        N/A
----------------------------------------------------------------------------------------------------
 91         Richland Village Shopping  2/11/2006  Release upon: i) Completion of the      $600,000
            Center                                Capital Improvements, ii) Evidence
                                                  that all parties have been paid for
                                                  labor, iii) Invoices showing costs no
                                                  less than $150,000, iv) Base rental
                                                  income of $540,000, v) Vacancy no
                                                  greater than 7%
----------------------------------------------------------------------------------------------------
 92         Pacific West Apartments    N/A        N/A                                        N/A
----------------------------------------------------------------------------------------------------
 93         Atrium Medical Office
            Building                   N/A        N/A                                        N/A
----------------------------------------------------------------------------------------------------
 94         Wingate Inn Fayetteville   N/A        N/A                                        N/A
----------------------------------------------------------------------------------------------------
 95         Millside Building          N/A        N/A                                        N/A
----------------------------------------------------------------------------------------------------
100         Market at Southern Pines   N/A        N/A                                        N/A
----------------------------------------------------------------------------------------------------
101         Palm Shadows MH & RV Park  N/A        N/A                                        N/A
----------------------------------------------------------------------------------------------------
103         Anderson Oaks Mobile Home
            Park                       N/A        N/A                                        N/A
----------------------------------------------------------------------------------------------------
108         Magic Valley Park          N/A        N/A                                     $200,000
----------------------------------------------------------------------------------------------------
109         River Park Apartments      N/A        N/A                                        N/A
----------------------------------------------------------------------------------------------------
110         Portway Plaza Office
            Building                   N/A        N/A                                        N/A
----------------------------------------------------------------------------------------------------
111         Marigold Apartments        N/A        N/A                                        N/A
----------------------------------------------------------------------------------------------------
112         Carlton Apartments         N/A        N/A                                        N/A
----------------------------------------------------------------------------------------------------
113   (D)   Ramey's Mobile Home Park   N/A        N/A                                        N/A
----------------------------------------------------------------------------------------------------
114   (D)   Bexley Mobile Home Park    N/A        N/A                                        N/A
----------------------------------------------------------------------------------------------------
117         Lincoln Professional Plaza N/A        N/A                                        N/A
----------------------------------------------------------------------------------------------------
118         Santa Grande Mobile Home
            Park                       N/A        N/A                                        N/A
----------------------------------------------------------------------------------------------------
119         301 N. Brand Blvd.         N/A        N/A                                        N/A
----------------------------------------------------------------------------------------------------
120         Tropicana Del Este
            Apartments                 N/A        N/A                                        N/A
----------------------------------------------------------------------------------------------------
123         Sundance Village MHP       N/A        N/A                                        N/A
----------------------------------------------------------------------------------------------------
124         University Plaza           N/A        N/A                                        N/A
----------------------------------------------------------------------------------------------------
125         Campbell Station Shopping
            Center                     N/A        N/A                                        N/A
----------------------------------------------------------------------------------------------------
126         Southwest Storage          N/A        N/A                                        N/A
----------------------------------------------------------------------------------------------------
129         Greenbriar MHP             N/A        N/A                                        N/A
----------------------------------------------------------------------------------------------------
130         Trafalgar Square
            Apartments                 N/A        N/A                                        N/A
----------------------------------------------------------------------------------------------------
131         Queens Lane Apartments     N/A        N/A                                        N/A
----------------------------------------------------------------------------------------------------
133         327 East 52nd Street       N/A        N/A                                        N/A
----------------------------------------------------------------------------------------------------
134         Naples Place IV            N/A        N/A                                        N/A
----------------------------------------------------------------------------------------------------

                                               B-1-12
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
 #  Crossed Loan Name                                      Earnout                      Additional
                                                           Reserve                      Collateral
                                                         Description                      Amount
--------------------------------------------------------------------------------------------------
<S> <C>     <C>                        <C>                                             <C>
135         Park City Shopping Center  N/A                                             N/A
--------------------------------------------------------------------------------------------------
136         Kennesaw Promenade         N/A                                             N/A
--------------------------------------------------------------------------------------------------
137         Lakewood Village - FL      N/A                                             N/A
--------------------------------------------------------------------------------------------------
139         2317-2335 Market Street    Release upon: i) on or before 6/20/2003         $6,812.50
                                       borrower should lender a permit allowing Paolo
                                       Travel space to be used as an office; ii) on
                                       or before 8/4/2003 PauloTravel space shall be
                                       converted to residential from office.

--------------------------------------------------------------------------------------------------
140         Gloucester Apartments      N/A                                             N/A
--------------------------------------------------------------------------------------------------
141         Bayou Villa Apartments     N/A                                             N/A
--------------------------------------------------------------------------------------------------
142         South Michigan Avenue      N/A
            Office Building                                                            N/A
--------------------------------------------------------------------------------------------------
143         Gateway Retail Center      N/A                                             N/A
--------------------------------------------------------------------------------------------------
144         Murphy Retail Center       N/A                                             N/A
--------------------------------------------------------------------------------------------------
145         Anaheim Street Retail      N/A
            Center                                                                     N/A
--------------------------------------------------------------------------------------------------
146         Park Street Retail         N/A                                             N/A
--------------------------------------------------------------------------------------------------
147         Sprinkle Ridge Apartments  N/A                                             N/A
--------------------------------------------------------------------------------------------------
148         Melonie Square             N/A                                             N/A
--------------------------------------------------------------------------------------------------
149         7000 North Freeway         N/A                                             N/A
--------------------------------------------------------------------------------------------------
150         Sunny Isle Apartments      N/A                                             N/A
--------------------------------------------------------------------------------------------------
151         Nichols Station I          N/A
            Apartments                                                                 N/A
--------------------------------------------------------------------------------------------------
152         Biddeford Apartments       N/A                                             N/A
--------------------------------------------------------------------------------------------------
153         Mount Vernon Apartments    N/A                                             N/A
--------------------------------------------------------------------------------------------------
154         Cambridge Estates Apts     N/A
            (Phase III)                                                                N/A
--------------------------------------------------------------------------------------------------
155         South Ynez Apartments      N/A                                             N/A
--------------------------------------------------------------------------------------------------
156         Colorado Square / Medlin   N/A
            Place Apartments                                                           N/A
--------------------------------------------------------------------------------------------------
157         Country Oaks Mobile Home   N/A
            Park                                                                       N/A
--------------------------------------------------------------------------------------------------
158         Greenville Retail Center   N/A                                             N/A
--------------------------------------------------------------------------------------------------
159         Cliffview Crossing         N/A                                             N/A
--------------------------------------------------------------------------------------------------
160         Grove Apartments           N/A                                             N/A
--------------------------------------------------------------------------------------------------
161         Greentree Apartments       N/A                                             N/A
--------------------------------------------------------------------------------------------------
162         Coachlite Apartments       N/A                                             N/A
--------------------------------------------------------------------------------------------------
163         Northgate Terrace I        N/A
            Apartments                                                                 N/A
--------------------------------------------------------------------------------------------------
164         150 Broad Street           N/A                                             N/A
--------------------------------------------------------------------------------------------------
165         Sunset Avenue Apartments   N/A                                             N/A
--------------------------------------------------------------------------------------------------
166         Classic Village            N/A                                             N/A
--------------------------------------------------------------------------------------------------
167         Knox Landing Apartments    N/A                                             N/A
--------------------------------------------------------------------------------------------------
168         1013 West Linden Street    N/A                                             N/A
--------------------------------------------------------------------------------------------------
169         Ledgewood Mobile Home Park N/A                                             N/A
--------------------------------------------------------------------------------------------------
170         83 Elizabeth Street        N/A                                             N/A
--------------------------------------------------------------------------------------------------
171         1235 Elm Street            N/A                                             N/A
--------------------------------------------------------------------------------------------------
116A        El Valle del Sol           N/A                                             N/A
--------------------------------------------------------------------------------------------------
116B        El Valle de la Luna        N/A                                             N/A
--------------------------------------------------------------------------------------------------
132A        San Juan Gardens           N/A                                             N/A
--------------------------------------------------------------------------------------------------
132B        Friendly Village           N/A                                             N/A
--------------------------------------------------------------------------------------------------

<CAPTION>

 #  Crossed Loan Name                  Additional               Additional                Exisiting
                                       Collateral               Collateral                Secondary
                                       Event Date               Description               Financing
----------------------------------------------------------------------------------------------------
<S> <C>     <C>                        <C>        <C>                                        <C>
135         Park City Shopping Center  N/A        N/A                                        N/A
----------------------------------------------------------------------------------------------------
136         Kennesaw Promenade         N/A        N/A                                        N/A
----------------------------------------------------------------------------------------------------
137         Lakewood Village - FL      N/A        N/A                                        N/A
----------------------------------------------------------------------------------------------------
139         2317-2335 Market Street    6/20/2003  Release upon: i) on or before              N/A
                                       or         6/20/2003 borrower should lender a
                                       8/4/2003   permit allowing Paolo Travel space to
                                                  be used as an office; ii) on or before
                                                  8/4/2003 PauloTravel space shall be
                                                  converted to residential from office.
----------------------------------------------------------------------------------------------------
140         Gloucester Apartments      N/A        N/A                                        N/A
----------------------------------------------------------------------------------------------------
141         Bayou Villa Apartments     N/A        N/A                                        N/A
----------------------------------------------------------------------------------------------------
142         South Michigan Avenue
            Office Building            N/A        N/A                                        N/A
----------------------------------------------------------------------------------------------------
143         Gateway Retail Center      N/A        N/A                                        N/A
----------------------------------------------------------------------------------------------------
144         Murphy Retail Center       N/A        N/A                                        N/A
----------------------------------------------------------------------------------------------------
145         Anaheim Street Retail
            Center                     N/A        N/A                                        N/A
----------------------------------------------------------------------------------------------------
146         Park Street Retail         N/A        N/A                                        N/A
----------------------------------------------------------------------------------------------------
147         Sprinkle Ridge Apartments  N/A        N/A                                        N/A
----------------------------------------------------------------------------------------------------
148         Melonie Square             N/A        N/A                                        N/A
----------------------------------------------------------------------------------------------------
149         7000 North Freeway         N/A        N/A                                        N/A
----------------------------------------------------------------------------------------------------
150         Sunny Isle Apartments      N/A        N/A                                        N/A
----------------------------------------------------------------------------------------------------
151         Nichols Station I
            Apartments                 N/A        N/A                                        N/A
----------------------------------------------------------------------------------------------------
152         Biddeford Apartments       N/A        N/A                                        N/A
----------------------------------------------------------------------------------------------------
153         Mount Vernon Apartments    N/A        N/A                                        N/A
----------------------------------------------------------------------------------------------------
154         Cambridge Estates Apts
            (Phase III)                N/A        N/A                                        N/A
----------------------------------------------------------------------------------------------------
155         South Ynez Apartments      N/A        N/A                                        N/A
----------------------------------------------------------------------------------------------------
156         Colorado Square / Medlin
            Place Apartments           N/A        N/A                                        N/A
----------------------------------------------------------------------------------------------------
157         Country Oaks Mobile Home
            Park                       N/A        N/A                                        N/A
----------------------------------------------------------------------------------------------------
158         Greenville Retail Center   N/A        N/A                                        N/A
----------------------------------------------------------------------------------------------------
159         Cliffview Crossing         N/A        N/A                                        N/A
----------------------------------------------------------------------------------------------------
160         Grove Apartments           N/A        N/A                                        N/A
----------------------------------------------------------------------------------------------------
161         Greentree Apartments       N/A        N/A                                        N/A
----------------------------------------------------------------------------------------------------
162         Coachlite Apartments       N/A        N/A                                        N/A
----------------------------------------------------------------------------------------------------
163         Northgate Terrace I
            Apartments                 N/A        N/A                                        N/A
----------------------------------------------------------------------------------------------------
164         150 Broad Street           N/A        N/A                                        N/A
----------------------------------------------------------------------------------------------------
165         Sunset Avenue Apartments   N/A        N/A                                        N/A
----------------------------------------------------------------------------------------------------
166         Classic Village            N/A        N/A                                        N/A
----------------------------------------------------------------------------------------------------
167         Knox Landing Apartments    N/A        N/A                                        N/A
----------------------------------------------------------------------------------------------------
168         1013 West Linden Street    N/A        N/A                                        N/A
----------------------------------------------------------------------------------------------------
169         Ledgewood Mobile Home Park N/A        N/A                                        N/A
----------------------------------------------------------------------------------------------------
170         83 Elizabeth Street        N/A        N/A                                        N/A
----------------------------------------------------------------------------------------------------
171         1235 Elm Street            N/A        N/A                                        N/A
----------------------------------------------------------------------------------------------------
116A        El Valle del Sol           N/A        N/A                                        N/A
----------------------------------------------------------------------------------------------------
116B        El Valle de la Luna        N/A        N/A                                        N/A
----------------------------------------------------------------------------------------------------
132A        San Juan Gardens           N/A        N/A                                        N/A
----------------------------------------------------------------------------------------------------
132B        Friendly Village           N/A        N/A                                        N/A
----------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
 #   Crossed Loan Name                             Description of Exisiting            Description of
                                                     Secondary Financing               Lock Box
-------------------------------------------------------------------------------------------------------
<S>   <C>   <C>                        <C>                                                <C>
 1          Circle Centre Mall         N/A                                                  Hard
-------------------------------------------------------------------------------------------------------
 2          Wanamaker Building -       Secured ($15,000,000); Unsecured ($1,000,000)        Hard
            Office
-------------------------------------------------------------------------------------------------------
 4    (A)   Mira Mesa Market Center    N/A                                                Springing
            West
-------------------------------------------------------------------------------------------------------
 5    (A)   Mira Mesa Market Center    N/A                                                Springing
            East
-------------------------------------------------------------------------------------------------------
 6    (B)   PCCP - Commerce Centre     N/A                                                  Hard
-------------------------------------------------------------------------------------------------------
 7    (B)   PCCP - Paramount           N/A                                                  Hard
            Distribution Center
-------------------------------------------------------------------------------------------------------
 8    (B)   PCCP - 301 Walnut          N/A                                                  Hard
-------------------------------------------------------------------------------------------------------
 9A         Mayfair Mall - Retail      N/A                                                  Hard
-------------------------------------------------------------------------------------------------------
 9B         Mayfair Mall - Office      N/A                                                  Hard
            Complex
-------------------------------------------------------------------------------------------------------

                                                B-1-13
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
 #   Crossed Loan Name                             Description of Exisiting            Description of
                                                     Secondary Financing               Lock Box
-------------------------------------------------------------------------------------------------------
<S>   <C>   <C>                        <C>                                                <C>
 10         540 Madison Avenue         N/A                                                  Hard
-------------------------------------------------------------------------------------------------------
 11         Town & Country Apartments  N/A                                                Springing
            - Urbana
-------------------------------------------------------------------------------------------------------
 16   (C)   Red Lion Hotel Port        N/A                                                  Hard
            Angeles
-------------------------------------------------------------------------------------------------------
 17   (C)   Red Lion Hotel Yakima      N/A                                                  Hard
            Center
-------------------------------------------------------------------------------------------------------
 18   (C)   Red Lion Hotel Eureka      N/A                                                  Hard
-------------------------------------------------------------------------------------------------------
 19   (C)   Red Lion Hotel Twin Falls  N/A                                                  Hard
-------------------------------------------------------------------------------------------------------
 20   (C)   Red Lion Hotel Kennewick   N/A                                                  Hard
-------------------------------------------------------------------------------------------------------
 21         Arlington & Bradley        Mezzanine Loan                                        N/A
            Office Center
-------------------------------------------------------------------------------------------------------
 23         780 James P. Casey Road    N/A                                                Springing
-------------------------------------------------------------------------------------------------------
 24         800 Apollo                 N/A                                                Springing
-------------------------------------------------------------------------------------------------------
 25         Regent Industrial Center   N/A                                                Modified
-------------------------------------------------------------------------------------------------------
 26         Sarasota Gateway           N/A                                                   N/A
-------------------------------------------------------------------------------------------------------
 27         Bristol Farms Apartments   N/A                                                Springing
-------------------------------------------------------------------------------------------------------
 28         Country View Mobile Home   N/A                                                Springing
            Park
-------------------------------------------------------------------------------------------------------
 29         University Commons         N/A                                                Springing
-------------------------------------------------------------------------------------------------------
 30         Princeton Square           Secured Note - CBA-Mezzanine Capital Finance,         N/A
            Apartments                 LLC
-------------------------------------------------------------------------------------------------------
 31         Burlington Center Mall     N/A                                                Springing
-------------------------------------------------------------------------------------------------------
 32         Club at Tranquility Lake   N/A                                                Springing
-------------------------------------------------------------------------------------------------------
 33         Warner Center Business     N/A                                                  Hard
            Park
-------------------------------------------------------------------------------------------------------
 34         Expressway Mall            N/A                                                Springing
-------------------------------------------------------------------------------------------------------
 35         Airline Shopping Center    N/A                                                   N/A
-------------------------------------------------------------------------------------------------------
 36         Windward Village Shopping  N/A                                                   N/A
            Center
-------------------------------------------------------------------------------------------------------
 37         Playa Blanca Apartments    N/A                                                   N/A
-------------------------------------------------------------------------------------------------------
 38         Torrey View Corporate      N/A                                                Springing
            Center
-------------------------------------------------------------------------------------------------------
 41         The Moorings Apartments    N/A                                                Springing
-------------------------------------------------------------------------------------------------------
 42         5th & Lamar Retail/Office  N/A                                                   N/A
            Development
-------------------------------------------------------------------------------------------------------
 43         American Village on the    N/A                                                   N/A
            Lake Apartments
-------------------------------------------------------------------------------------------------------
 44         Ryan's Pointe Apartments   Secured Note - CBA-Mezzanine Capital Finance,         N/A
                                       LLC
-------------------------------------------------------------------------------------------------------
 45         Cleveland Street Square    N/A                                                Springing
-------------------------------------------------------------------------------------------------------
 47         Rivermont Apartments       N/A                                                  Hard
-------------------------------------------------------------------------------------------------------
 50         Westover Gallery Shopping  N/A                                                   N/A
            Center
-------------------------------------------------------------------------------------------------------
 53         Trestles of Houston        N/A                                                   N/A
            Apartments
-------------------------------------------------------------------------------------------------------
 54         Pemstar, Inc. Headquarters N/A                                                  Hard
-------------------------------------------------------------------------------------------------------
 56         Riverbend Apartments       N/A                                                   N/A
-------------------------------------------------------------------------------------------------------
 57         D'Adrian Meadows           N/A                                                   N/A
            Apartments
-------------------------------------------------------------------------------------------------------
 58         Park Place                 N/A                                                Springing
-------------------------------------------------------------------------------------------------------
 59         Millstone Lakes Apartments N/A                                                   N/A
-------------------------------------------------------------------------------------------------------
 61         Aspen Woods                N/A                                                Springing
-------------------------------------------------------------------------------------------------------
 62         Iliff Commons Shopping     N/A                                                   N/A
            Center
-------------------------------------------------------------------------------------------------------
 63         Atlantic Boulevard         N/A                                                   N/A
            Shopping Center
-------------------------------------------------------------------------------------------------------
 64         Shoppes at Brandon Farms   N/A                                                   N/A
-------------------------------------------------------------------------------------------------------
 65         Court Street Plaza         N/A                                                Springing
            Shopping Center
-------------------------------------------------------------------------------------------------------
 67         300 Alexander Park         N/A                                                Springing
-------------------------------------------------------------------------------------------------------
 68         4861 & 4891 Telsa Drive    N/A                                                   N/A
-------------------------------------------------------------------------------------------------------
 69         Longview Meadow Apartments N/A                                                   N/A
-------------------------------------------------------------------------------------------------------
 70         8501 LaSalle Road          N/A                                                   N/A
-------------------------------------------------------------------------------------------------------
 71         Trestles of Baytown        N/A                                                   N/A
            Apartments
-------------------------------------------------------------------------------------------------------
 72         Santa Fe Place Apartments  N/A                                                   N/A
-------------------------------------------------------------------------------------------------------
 73         Plumtree Professional      N/A                                                   N/A
            Center
-------------------------------------------------------------------------------------------------------
 75         Canyon Woods Apartments    Secured Debt - CBA-Mezzanine Capital Finance,         N/A
                                       LLC
-------------------------------------------------------------------------------------------------------
 76         Grove Street               N/A                                                   N/A
-------------------------------------------------------------------------------------------------------
 78         Ashley Park Apartments     N/A                                                   N/A
-------------------------------------------------------------------------------------------------------
 79         Rosemont Retail Center     N/A                                                   N/A
-------------------------------------------------------------------------------------------------------
 81         Cardinal Shopping Center   N/A                                                   N/A
-------------------------------------------------------------------------------------------------------
 82         Grogan's Mill Village      N/A                                                   N/A
            Center
-------------------------------------------------------------------------------------------------------

                                                B-1-14
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
 #   Crossed Loan Name                             Description of Exisiting            Description of
                                                     Secondary Financing               Lock Box
-------------------------------------------------------------------------------------------------------
<S>   <C>   <C>                        <C>                                                <C>
 83         Atlas Valley Shopping      N/A                                                   N/A
            Center
-------------------------------------------------------------------------------------------------------
 84         Heights Garden Apartments  N/A                                                   N/A
-------------------------------------------------------------------------------------------------------
 85         Radnor Towers Apartments   N/A                                                Modified
-------------------------------------------------------------------------------------------------------
 87         10 Canebrake Boulevard     N/A                                                Springing
-------------------------------------------------------------------------------------------------------
 88         The Forest Apartments      N/A                                                   N/A
-------------------------------------------------------------------------------------------------------
 89         Gristedes - 3rd Ave. and   N/A                                                Springing
            36th Street
-------------------------------------------------------------------------------------------------------
 90         111 & 121 Roberts Street   N/A                                                   N/A
-------------------------------------------------------------------------------------------------------
 91         Richland Village Shopping  Mezzanine - Secured by the rights of limited          N/A
            Center                     partners based on partnership interests
-------------------------------------------------------------------------------------------------------
 92         Pacific West Apartments    N/A                                                   N/A
-------------------------------------------------------------------------------------------------------
 93         Atrium Medical Office      N/A                                                   N/A
            Building
-------------------------------------------------------------------------------------------------------
 94         Wingate Inn Fayetteville   N/A                                                   N/A
-------------------------------------------------------------------------------------------------------
 95         Millside Building          N/A                                                   N/A
-------------------------------------------------------------------------------------------------------
100         Market at Southern Pines   N/A                                                   N/A
-------------------------------------------------------------------------------------------------------
101         Palm Shadows MH & RV Park  N/A                                                   N/A
-------------------------------------------------------------------------------------------------------
103         Anderson Oaks Mobile Home  N/A                                                   N/A
            Park
-------------------------------------------------------------------------------------------------------
108         Magic Valley Park          Mezzanine Loan                                        N/A
-------------------------------------------------------------------------------------------------------
109         River Park Apartments      N/A                                                   N/A
-------------------------------------------------------------------------------------------------------
110         Portway Plaza Office       N/A                                                   N/A
            Building
-------------------------------------------------------------------------------------------------------
111         Marigold Apartments        N/A                                                   N/A
-------------------------------------------------------------------------------------------------------
112         Carlton Apartments         N/A                                                   N/A
-------------------------------------------------------------------------------------------------------
113   (D)   Ramey's Mobile Home Park   N/A                                                   N/A
-------------------------------------------------------------------------------------------------------
114   (D)   Bexley Mobile Home Park    N/A                                                   N/A
-------------------------------------------------------------------------------------------------------
117         Lincoln Professional Plaza N/A                                                   N/A
-------------------------------------------------------------------------------------------------------
118         Santa Grande Mobile Home   N/A                                                   N/A
            Park
-------------------------------------------------------------------------------------------------------
119         301 N. Brand Blvd.         N/A                                                   N/A
-------------------------------------------------------------------------------------------------------
120         Tropicana Del Este         N/A                                                   N/A
            Apartments
-------------------------------------------------------------------------------------------------------
123         Sundance Village MHP       N/A                                                   N/A
-------------------------------------------------------------------------------------------------------
124         University Plaza           N/A                                                   N/A
-------------------------------------------------------------------------------------------------------
125         Campbell Station Shopping  N/A                                                   N/A
            Center
-------------------------------------------------------------------------------------------------------
126         Southwest Storage          N/A                                                   N/A
-------------------------------------------------------------------------------------------------------
129         Greenbriar MHP             N/A                                                   N/A
-------------------------------------------------------------------------------------------------------
130         Trafalgar Square           N/A                                                   N/A
            Apartments
-------------------------------------------------------------------------------------------------------
131         Queens Lane Apartments     N/A                                                   N/A
-------------------------------------------------------------------------------------------------------
133         327 East 52nd Street       N/A                                                   N/A
-------------------------------------------------------------------------------------------------------
134         Naples Place IV            N/A                                                   N/A
-------------------------------------------------------------------------------------------------------
135         Park City Shopping Center  N/A                                                   N/A
-------------------------------------------------------------------------------------------------------
136         Kennesaw Promenade         N/A                                                Springing
-------------------------------------------------------------------------------------------------------
137         Lakewood Village - FL      N/A                                                   N/A
-------------------------------------------------------------------------------------------------------
139         2317-2335 Market Street    N/A                                                   N/A
-------------------------------------------------------------------------------------------------------
140         Gloucester Apartments      N/A                                                   N/A
-------------------------------------------------------------------------------------------------------
141         Bayou Villa Apartments     N/A                                                   N/A
-------------------------------------------------------------------------------------------------------
142         South Michigan Avenue      N/A                                                   N/A
            Office Building
-------------------------------------------------------------------------------------------------------
143         Gateway Retail Center      N/A                                                   N/A
-------------------------------------------------------------------------------------------------------
144         Murphy Retail Center       N/A                                                   N/A
-------------------------------------------------------------------------------------------------------
145         Anaheim Street Retail      N/A                                                   N/A
            Center
-------------------------------------------------------------------------------------------------------
146         Park Street Retail         N/A                                                   N/A
-------------------------------------------------------------------------------------------------------
147         Sprinkle Ridge Apartments  N/A                                                   N/A
-------------------------------------------------------------------------------------------------------
148         Melonie Square             N/A                                                   N/A
-------------------------------------------------------------------------------------------------------
149         7000 North Freeway         N/A                                                   N/A
-------------------------------------------------------------------------------------------------------
150         Sunny Isle Apartments      N/A                                                   N/A
-------------------------------------------------------------------------------------------------------
151         Nichols Station I          N/A                                                   N/A
            Apartments
-------------------------------------------------------------------------------------------------------
152         Biddeford Apartments       N/A                                                   N/A
-------------------------------------------------------------------------------------------------------
153         Mount Vernon Apartments    N/A                                                   N/A
-------------------------------------------------------------------------------------------------------
154         Cambridge Estates Apts     N/A                                                   N/A
            (Phase III)
-------------------------------------------------------------------------------------------------------
155         South Ynez Apartments      N/A                                                   N/A
-------------------------------------------------------------------------------------------------------

                                                B-1-15
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
 #   Crossed Loan Name                             Description of Exisiting            Description of
                                                     Secondary Financing               Lock Box
-------------------------------------------------------------------------------------------------------
<S>   <C>   <C>                        <C>                                                <C>
156         Colorado Square / Medlin   N/A                                                   N/A
            Place Apartments
-------------------------------------------------------------------------------------------------------
157         Country Oaks Mobile Home   N/A                                                   N/A
            Park
-------------------------------------------------------------------------------------------------------
158         Greenville Retail Center   N/A                                                   N/A
-------------------------------------------------------------------------------------------------------
159         Cliffview Crossing         N/A                                                   N/A
-------------------------------------------------------------------------------------------------------
160         Grove Apartments           N/A                                                   N/A
-------------------------------------------------------------------------------------------------------
161         Greentree Apartments       N/A                                                   N/A
-------------------------------------------------------------------------------------------------------
162         Coachlite Apartments       N/A                                                   N/A
-------------------------------------------------------------------------------------------------------
163         Northgate Terrace I        N/A                                                   N/A
            Apartments
-------------------------------------------------------------------------------------------------------
164         150 Broad Street           N/A                                                   N/A
-------------------------------------------------------------------------------------------------------
165         Sunset Avenue Apartments   N/A                                                   N/A
-------------------------------------------------------------------------------------------------------
166         Classic Village            N/A                                                   N/A
-------------------------------------------------------------------------------------------------------
167         Knox Landing Apartments    N/A                                                   N/A
-------------------------------------------------------------------------------------------------------
168         1013 West Linden Street    N/A                                                   N/A
-------------------------------------------------------------------------------------------------------
169         Ledgewood Mobile Home Park N/A                                                   N/A
-------------------------------------------------------------------------------------------------------
170         83 Elizabeth Street        N/A                                                   N/A
-------------------------------------------------------------------------------------------------------
171         1235 Elm Street            N/A                                                   N/A
-------------------------------------------------------------------------------------------------------
116A        El Valle del Sol           N/A                                                   N/A
-------------------------------------------------------------------------------------------------------
116B        El Valle de la Luna        N/A                                                   N/A
-------------------------------------------------------------------------------------------------------
132A        San Juan Gardens           N/A                                                   N/A
-------------------------------------------------------------------------------------------------------
132B        Friendly Village           N/A                                                   N/A
-------------------------------------------------------------------------------------------------------

                                                B-1-16
</TABLE>

<PAGE>

                                  EXHIBIT B-2

                   SCHEDULE OF KEYBANK TRUST MORTGAGE LOANS

                                    B-2-1

<PAGE>

<TABLE>
<CAPTION>

  #   Crossed Loan Name                                                   Address                                      City   State
------------------------------------------------------------------------------------------------------------------------------------
<S>   <C>     <C>                         <C>                                                                      <C>          <C>
  3           Jefferson Pointe Shopping   4410 West Jefferson Boulevard                                            Fort Wayne    IN
              Center
------------------------------------------------------------------------------------------------------------------------------------
 12           Shadle Center               2401 Wellesley Avenue                                                    Spokane       WA
------------------------------------------------------------------------------------------------------------------------------------
 13           Blackbaud Plaza             2000 Daniel Island Drive                                                 Charleston    SC
------------------------------------------------------------------------------------------------------------------------------------
 15           Harbor Pointe Apartments    9200 North 75th Street                                                   Milwaukee     WI
------------------------------------------------------------------------------------------------------------------------------------
 22           Sugarloaf Shopping Center   3370 Sugarloaf Parkway                                                   Lawrenceville GA
------------------------------------------------------------------------------------------------------------------------------------
 39           Lantana Shopping Center     1589 West Lantana Road                                                   Lantana       FL
------------------------------------------------------------------------------------------------------------------------------------
 40           Crossroads Plaza Shopping   9050-9066, 9150-9176, 9200 Whittier Boulevard and 5060-5076 Rosemead     Pico Rivera   CA
              Center                      Boulevard
------------------------------------------------------------------------------------------------------------------------------------
 46           306 Belmont Street          306 Belmont Street and 350 Plantation Street                             Worcester     MA
------------------------------------------------------------------------------------------------------------------------------------
 48           Canterbury Woods Apartments 6520 Macon Road                                                          Memphis       TN
------------------------------------------------------------------------------------------------------------------------------------
 49           Oakbrook Village            2225 Nursery Road                                                        Clearwater    FL
------------------------------------------------------------------------------------------------------------------------------------
 51           Concord Self Storage        1597 Market Street                                                       Concord       CA
------------------------------------------------------------------------------------------------------------------------------------
 52           Chatsworth Industrial       21026-40 Nordhoff Street, 9035 Independence Avenue, and 2109-51 Osborne  Chatsworth    CA
                                          Street
------------------------------------------------------------------------------------------------------------------------------------
 55           8520 Tyco Road              8520-8528 Tyco Road                                                      Vienna        VA
------------------------------------------------------------------------------------------------------------------------------------
 60           Corona del Sol Plaza        4939 - 4959 West Ray Road                                                Chandler      AZ
------------------------------------------------------------------------------------------------------------------------------------
 74           Park Square Center          4026 McDowell Road                                                       Grove City    OH
------------------------------------------------------------------------------------------------------------------------------------
 77           Harbor Park                 33920 U.S. Highway 19                                                    Palm Harbor   FL
------------------------------------------------------------------------------------------------------------------------------------
 80           San Carlos Marketplace      18011 South Tamiami Trail                                                Fort Myers    FL
------------------------------------------------------------------------------------------------------------------------------------
 86           Onyx Office Building        17225 El Camino Real                                                     Webster       TX
------------------------------------------------------------------------------------------------------------------------------------
 96           Walgreens - Reseda, CA      18430 Sherman Way                                                        Reseda        CA
------------------------------------------------------------------------------------------------------------------------------------
 97           Walgreens - State & Wells   2304 North Wells Street                                                  Fort Wayne    IN
------------------------------------------------------------------------------------------------------------------------------------
 98           Walgreens - Vista           1510 North Santa Fe Avenue                                               Vista         CA
------------------------------------------------------------------------------------------------------------------------------------
 99           Walgreens - Lebanon, OH     904 Columbus Avenue                                                      Lebanon       OH
------------------------------------------------------------------------------------------------------------------------------------
 102          Walgreens - Adams &         7864 Hamilton Avenue                                                     Mount Healthy OH
              Hamilton
------------------------------------------------------------------------------------------------------------------------------------
 104          Walgreens - Modesto         4201 Dale Road                                                           Modesto       CA
------------------------------------------------------------------------------------------------------------------------------------
 105          Carlton Club Apartments     23 Carlton Club Drive                                                    Piscataway    NJ
------------------------------------------------------------------------------------------------------------------------------------
 106          Walgreens - Omaha           15525 Spaulding Plaza                                                    Omaha         NE
------------------------------------------------------------------------------------------------------------------------------------
 107          Forest Heights Apartments   1515 South Yale Street                                                   Flagstaff     AZ
------------------------------------------------------------------------------------------------------------------------------------
 115          Town Creek                  9727 Whitehurst Drive                                                    Dallas        TX
------------------------------------------------------------------------------------------------------------------------------------
 121          Shoppes at Thoroughbred     443 Cool Springs Boulevard                                               Franklin      TN
              Village
------------------------------------------------------------------------------------------------------------------------------------
 122          Zachary Shopping Center     5647 Main Street                                                         Zachary       LA
------------------------------------------------------------------------------------------------------------------------------------
 127          Walgreens - Scott &         10211 Chestnut Plaza Drive                                               Fort Wayne    IN
              Illinois
------------------------------------------------------------------------------------------------------------------------------------
 128          West Sunset Blvd            15920 West Sunset Boulevard                                              Pacific       CA
                                                                                                                   Palisades
------------------------------------------------------------------------------------------------------------------------------------
 138          Shurgard of Hickory Hollow  5251 Mountain View Road                                                  Antioch       TN
------------------------------------------------------------------------------------------------------------------------------------
 14A          94-104 Glenn                94-104 Glenn Street                                                      Lawrence      MA
------------------------------------------------------------------------------------------------------------------------------------
 14B          8 A-E Industrial Way        8 A-E Industrial Way                                                     Salem         NH
------------------------------------------------------------------------------------------------------------------------------------
 14C          13 Branch                   13 Branch Street                                                         Methuen       MA
------------------------------------------------------------------------------------------------------------------------------------
 14D          90 Glenn                    90 Glenn Street                                                          Lawrence      MA
------------------------------------------------------------------------------------------------------------------------------------
 14E          1 Branch                    1 Branch Street                                                          Methuen       MA
------------------------------------------------------------------------------------------------------------------------------------
 66A          Shurgard of Franklin        1138 Murfreesboro Road                                                   Franklin      TN
------------------------------------------------------------------------------------------------------------------------------------
 66B          Shurgard of Rivergate       2360 Gallatin Pike                                                       Madison       TN
------------------------------------------------------------------------------------------------------------------------------------

<CAPTION>

                                                                          Cut-off
                                                                           Date
                                                  Mortgage     Original  Principal                Interest  Original     Remaining
                                         Zip        Loan      Principal   Balance    Maturity/ARD  Only   Amortization Amortization
 # Crossed Loan Name                    Code      Seller       Balance      (1)      Balance (2)   Period     Term          Term
-----------------------------------------------------------------------------------------------------------------------------------
<S>  <C>   <C>                         <C>        <C>        <C>         <C>         <C>                <C>    <C>         <C>
 3         Jefferson Pointe Shopping   48604      KeyBank    $63,000,000 $63,000,000 $53,566,121.37     12     360         360
           Center
-----------------------------------------------------------------------------------------------------------------------------------
12         Shadle Center               99205      KeyBank    $24,500,000 $24,473,658 $20,112,835.67      0     360         359
-----------------------------------------------------------------------------------------------------------------------------------
13         Blackbaud Plaza             29492      KeyBank    $24,250,000 $24,226,534 $20,191,231.83      0     360         359
-----------------------------------------------------------------------------------------------------------------------------------
15         Harbor Pointe Apartments    53223      KeyBank    $23,800,000 $23,739,535 $21,682,983.18      0     360         358
-----------------------------------------------------------------------------------------------------------------------------------
22         Sugarloaf Shopping Center   30044      KeyBank    $20,080,000 $20,080,000 $16,423,237.75      0     360         360
-----------------------------------------------------------------------------------------------------------------------------------
39         Lantana Shopping Center     33462      KeyBank    $11,000,000 $10,987,640  $8,973,462.66      0     360         359
-----------------------------------------------------------------------------------------------------------------------------------
40         Crossroads Plaza Shopping   90660      KeyBank    $10,500,000 $10,500,000  $8,825,954.06      0     360         360
           Center
-----------------------------------------------------------------------------------------------------------------------------------
46         306 Belmont Street          01604      KeyBank     $9,600,000  $9,600,000  $8,562,478.14      0     360         360
-----------------------------------------------------------------------------------------------------------------------------------
48         Canterbury Woods Apartments 38134      KeyBank     $9,000,000  $9,000,000  $7,648,548.75     12     360         360
-----------------------------------------------------------------------------------------------------------------------------------
49         Oakbrook Village            33764      KeyBank     $8,400,000  $8,391,508  $6,954,253.23      0     360         359
-----------------------------------------------------------------------------------------------------------------------------------
51         Concord Self Storage        94520      KeyBank     $8,000,000  $7,983,653  $3,066,588.88      0     240         239
-----------------------------------------------------------------------------------------------------------------------------------
52         Chatsworth Industrial       91311      KeyBank     $7,650,000  $7,644,150  $6,545,819.97      0     360         359

-----------------------------------------------------------------------------------------------------------------------------------
55         8520 Tyco Road              22182      KeyBank     $7,000,000  $6,980,471  $5,339,224.51      0     300         298
-----------------------------------------------------------------------------------------------------------------------------------
60         Corona del Sol Plaza        85226      KeyBank     $6,150,000  $6,137,953  $5,114,666.17      0     360         358
-----------------------------------------------------------------------------------------------------------------------------------
74         Park Square Center          43123      KeyBank     $5,000,000  $5,000,000  $4,349,826.13     36     324         324
-----------------------------------------------------------------------------------------------------------------------------------
77         Harbor Park                 34684      KeyBank     $4,850,000  $4,845,852  $4,099,340.11      0     360         359
-----------------------------------------------------------------------------------------------------------------------------------
80         San Carlos Marketplace      33908      KeyBank     $4,700,000  $4,679,531  $3,011,019.38      0     240         238
-----------------------------------------------------------------------------------------------------------------------------------
86         Onyx Office Building        77058      KeyBank     $4,200,000  $4,193,448  $3,132,780.10      0     300         299
-----------------------------------------------------------------------------------------------------------------------------------
96         Walgreens - Reseda, CA      91335      KeyBank     $3,500,000  $3,500,000  $3,002,982.59      0     360         360
-----------------------------------------------------------------------------------------------------------------------------------
97         Walgreens - State & Wells   46808      KeyBank     $3,500,000  $3,493,715  $2,942,562.51      0     360         358
-----------------------------------------------------------------------------------------------------------------------------------
98         Walgreens - Vista           92084      KeyBank     $3,471,000  $3,464,624  $2,910,155.18      0     360         358
-----------------------------------------------------------------------------------------------------------------------------------
99         Walgreens - Lebanon, OH     45036      KeyBank     $3,400,000  $3,400,000  $2,901,410.04      0     360         360
-----------------------------------------------------------------------------------------------------------------------------------
102        Walgreens - Adams &         45231      KeyBank     $3,200,000  $3,194,239  $2,689,523.69      0     360         358
           Hamilton
-----------------------------------------------------------------------------------------------------------------------------------
104        Walgreens - Modesto         95356      KeyBank     $3,152,000  $3,146,210  $2,642,698.68      0     360         358
-----------------------------------------------------------------------------------------------------------------------------------
105        Carlton Club Apartments     08854      KeyBank     $3,100,000  $3,096,866  $2,566,451.09      0     360         359
-----------------------------------------------------------------------------------------------------------------------------------
106        Walgreens - Omaha           68116      KeyBank     $3,100,000  $3,089,874  $2,243,465.12      0     276         274
-----------------------------------------------------------------------------------------------------------------------------------
107        Forest Heights Apartments   86001      KeyBank     $3,045,000  $3,035,659  $2,535,397.79      0     360         357
-----------------------------------------------------------------------------------------------------------------------------------
115        Town Creek                  75243      KeyBank     $2,640,000  $2,634,028  $2,425,460.33      0     360         358
-----------------------------------------------------------------------------------------------------------------------------------
121        Shoppes at Thoroughbred     37067      KeyBank     $2,400,000  $2,395,536  $2,009,107.78      0     360         358
           Village
-----------------------------------------------------------------------------------------------------------------------------------
122        Zachary Shopping Center     70791      KeyBank     $2,375,000  $2,375,000  $2,028,484.03      0     300         300
-----------------------------------------------------------------------------------------------------------------------------------
127        Walgreens - Scott &         46804      KeyBank     $2,220,000  $2,213,445  $1,858,285.57      0     360         357
           Illinois
-----------------------------------------------------------------------------------------------------------------------------------
128        West Sunset Blvd            90272      KeyBank     $2,100,000  $2,093,966  $1,764,323.17      0     360         357

-----------------------------------------------------------------------------------------------------------------------------------
138        Shurgard of Hickory Hollow  37013      KeyBank     $1,773,000  $1,764,932  $1,339,857.42      0     300         297
-----------------------------------------------------------------------------------------------------------------------------------
14A        94-104 Glenn                01843      KeyBank     $9,825,000  $9,758,312  $8,323,921.17      0     360         353
-----------------------------------------------------------------------------------------------------------------------------------
14B        8 A-E Industrial Way        03079      KeyBank     $7,360,000  $7,310,044  $6,235,527.78      0     360         353
-----------------------------------------------------------------------------------------------------------------------------------
14C        13 Branch                   01844      KeyBank     $4,350,000  $4,320,474  $3,685,399.39      0     360         353
-----------------------------------------------------------------------------------------------------------------------------------
14D        90 Glenn                    01843      KeyBank     $1,425,000  $1,415,328  $1,207,286.15      0     360         353
-----------------------------------------------------------------------------------------------------------------------------------
14E        1 Branch                    01844      KeyBank     $1,040,000  $1,032,941    $881,107.22      0     360         353
-----------------------------------------------------------------------------------------------------------------------------------
66A        Shurgard of Franklin        37064      KeyBank     $2,900,000  $2,886,803  $2,191,530.79      0     300         297
-----------------------------------------------------------------------------------------------------------------------------------
66B        Shurgard of Rivergate       37115      KeyBank     $2,525,000  $2,513,509  $1,908,143.59      0     300         297
-----------------------------------------------------------------------------------------------------------------------------------

                                                               B-2-2
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
                                                         Remaining                   Interest
                                             Original     Term to    Mortgage       Calculation                    First
                                             Term to     Maturity    Interest        (30/360 /        Monthly     Payment  Maturity
  #    Crossed         Loan Name           Maturity (2)     (2)        Rate         Actual/360)       Payment      Date      Date
------------------------------------------------------------------------------------------------------------------------------------
<S>     <C>   <C>                                   <C>         <C>   <C>       <C>                 <C>          <C>       <C>
  3           Jefferson Pointe Shopping
              Center                                120         119   5.250%    Actual/360          $347,888.33  9/1/2003  8/1/2013
------------------------------------------------------------------------------------------------------------------------------------
  12          Shadle Center                         120         119   4.950%    Actual/360          $130,773.65  9/1/2003  8/1/2013
------------------------------------------------------------------------------------------------------------------------------------
  13          Blackbaud Plaza                       120         119   5.390%    Actual/360          $136,019.88  9/1/2003  8/1/2033
------------------------------------------------------------------------------------------------------------------------------------
  15          Harbor Pointe Apartments               60          58   4.220%    Actual/360          $116,664.08  8/1/2003  7/1/2008
------------------------------------------------------------------------------------------------------------------------------------
  22          Sugarloaf Shopping Center             120         120   4.840%    Actual/360          $105,838.84  10/1/2003 9/1/2013
------------------------------------------------------------------------------------------------------------------------------------
  39          Lantana Shopping Center               120         119   4.760%    Actual/360           $57,447.53  9/1/2003  8/1/2013
------------------------------------------------------------------------------------------------------------------------------------
  40          Crossroads Plaza Shopping
              Center                                120         120   5.700%    Actual/360           $60,942.04  10/1/2003 9/1/2013
------------------------------------------------------------------------------------------------------------------------------------
  46          306 Belmont Street                     84          84   5.350%    Actual/360           $53,607.71  10/1/2003 9/1/2033
------------------------------------------------------------------------------------------------------------------------------------
  48          Canterbury Woods Apartments           120         118   5.230%    Actual/360           $49,586.90  8/1/2003  7/1/2013
------------------------------------------------------------------------------------------------------------------------------------
  49          Oakbrook Village                      120         119   5.210%    Actual/360           $46,177.22  9/1/2003  8/1/2013
------------------------------------------------------------------------------------------------------------------------------------
  51          Concord Self Storage                  180         179   5.840%    Actual/360           $56,578.50  9/1/2003  8/1/2018
------------------------------------------------------------------------------------------------------------------------------------
  52          Chatsworth Industrial                 120         119   6.300%    Actual/360           $47,351.42  9/1/2003  8/1/2013
------------------------------------------------------------------------------------------------------------------------------------
  55          8520 Tyco Road                        120         118   5.550%    Actual/360           $43,195.39  8/1/2003  7/1/2028
------------------------------------------------------------------------------------------------------------------------------------
  60          Corona del Sol Plaza                  120         118   5.350%    Actual/360           $34,342.44  8/1/2003  7/1/2013
------------------------------------------------------------------------------------------------------------------------------------
  74          Park Square Center                    120         118   5.560%    Actual/360           $29,839.98  8/1/2003  7/1/2013
------------------------------------------------------------------------------------------------------------------------------------
  77          Harbor Park                           120         119   5.880%    Actual/360           $28,705.08  9/1/2003  8/1/2013
------------------------------------------------------------------------------------------------------------------------------------
  80          San Carlos Marketplace                120         118   5.400%    Actual/360           $32,065.82  8/1/2003  7/1/2013
------------------------------------------------------------------------------------------------------------------------------------
  86          Onyx Office Building                  120         119   4.930%    Actual/360           $24,381.79  9/1/2003  8/1/2013
------------------------------------------------------------------------------------------------------------------------------------
  96          Walgreens - Reseda, CA                120         120   6.400%    Actual/360           $21,892.71  10/1/2003 9/1/2033
------------------------------------------------------------------------------------------------------------------------------------
  97          Walgreens - State & Wells             120         118   5.700%    Actual/360           $20,314.02  8/1/2003  7/1/2033
------------------------------------------------------------------------------------------------------------------------------------
  98          Walgreens - Vista                     120         118   5.610%    Actual/360           $19,948.17  8/1/2003  7/1/2033
------------------------------------------------------------------------------------------------------------------------------------
  99          Walgreens - Lebanon, OH               120         120   6.210%    Actual/360           $20,846.01  10/1/2003 9/1/2033
------------------------------------------------------------------------------------------------------------------------------------
 102          Walgreens - Adams & Hamilton          120         118   5.690%    Actual/360           $18,552.54  8/1/2003  7/1/2033
------------------------------------------------------------------------------------------------------------------------------------
 104          Walgreens - Modesto                   120         118   5.610%    Actual/360           $18,114.85  8/1/2003  7/1/2033
------------------------------------------------------------------------------------------------------------------------------------
 105          Carlton Club Apartments               120         119   5.210%    Actual/360           $17,041.59  9/1/2003  8/1/2013
------------------------------------------------------------------------------------------------------------------------------------
 106          Walgreens - Omaha                     120         118   5.600%    Actual/360           $19,999.52  8/1/2003  7/1/2026
------------------------------------------------------------------------------------------------------------------------------------
 107          Forest Heights Apartments             120         117   5.390%    Actual/360           $17,079.61  7/1/2003  6/1/2013
------------------------------------------------------------------------------------------------------------------------------------
 115          Town Creek                             60          58   4.740%    Actual/360           $13,755.58  8/1/2003  7/1/2008
------------------------------------------------------------------------------------------------------------------------------------
 121          Shoppes at Thoroughbred
              Village                               120         118   5.560%    Actual/360           $13,717.42  8/1/2003  7/1/2033
------------------------------------------------------------------------------------------------------------------------------------
 122          Zachary Shopping Center                84          84   5.850%    Actual/360           $15,085.13  10/1/2003 9/1/2010
------------------------------------------------------------------------------------------------------------------------------------
 127          Walgreens - Scott & Illinois          120         117   5.560%    Actual/360           $12,688.61  7/1/2003  6/1/2033
------------------------------------------------------------------------------------------------------------------------------------
 128          West Sunset Blvd                      120         117   5.680%    Actual/360           $12,161.81  7/1/2003  6/1/2013
------------------------------------------------------------------------------------------------------------------------------------
 138          Shurgard of Hickory Hollow            120         117   5.290%    Actual/360           $10,666.54  7/1/2003  6/1/2013
------------------------------------------------------------------------------------------------------------------------------------
 14A          94-104 Glenn                          120         113   5.970%    Actual/360           $58,716.47  3/1/2003  2/1/2033
------------------------------------------------------------------------------------------------------------------------------------
 14B          8 A-E Industrial Way                  120         113   5.970%    Actual/360           $43,985.06  3/1/2003  2/1/2033
------------------------------------------------------------------------------------------------------------------------------------
 14C          13 Branch                             120         113   5.970%    Actual/360           $25,996.61  3/1/2003  2/1/2033
------------------------------------------------------------------------------------------------------------------------------------
 14D          90 Glenn                              120         113   5.970%    Actual/360            $8,516.13  3/1/2003  2/1/2033
------------------------------------------------------------------------------------------------------------------------------------
 14E          1 Branch                              120         113   5.970%    Actual/360            $6,215.28  3/1/2003  2/1/2033
------------------------------------------------------------------------------------------------------------------------------------
 66A          Shurgard of Franklin                  120         117   5.290%    Actual/360           $17,446.69  7/1/2003  6/1/2013
------------------------------------------------------------------------------------------------------------------------------------
 66B          Shurgard of Rivergate                 120         117   5.290%    Actual/360           $15,190.65  7/1/2003  6/1/2013
------------------------------------------------------------------------------------------------------------------------------------

<CAPTION>

                                                                                              Servicing                Contractual
                                                        Prepayment                    Yield      and     Engineering    Recurring
                                                     Provision as of   Defeasance  Maintenance Trustee    Reserve at   Replacement
  #  Crossed           Loan Name            ARD (8)  Origination (9)  Option (10)     Spread    Fees     Origination  Reserve/FF&E
----------------------------------------------------------------------------------------------------------------------------------
<S>   <C>   <C>                          <C>       <C>              <C>          <C>           <C>     <C>             <C>
  3         Jefferson Pointe Shopping
            Center                          N/A    Lock/116_0.0%/4  Yes          N/A           0.0518%    $57,300.00         $0.00
----------------------------------------------------------------------------------------------------------------------------------
  12        Shadle Center                   N/A    YM1/116_0.0%/4   No           T-Flat        0.0518%         $0.00    $18,300.00
----------------------------------------------------------------------------------------------------------------------------------
  13        Blackbaud Plaza              8/1/2013  Lock/116_0.0%/4  Yes          N/A           0.0518%         $0.00         $0.00
----------------------------------------------------------------------------------------------------------------------------------
  15        Harbor Pointe Apartments        N/A    Lock/57_0.0%/3   Yes          N/A           0.0518% $1,750,000.00   $208,250.00
----------------------------------------------------------------------------------------------------------------------------------
  22        Sugarloaf Shopping Center       N/A    Lock/117_0.0%/3  Yes          N/A           0.0518%   $105,000.00    $14,880.00
----------------------------------------------------------------------------------------------------------------------------------
  39        Lantana Shopping Center         N/A    Lock/117_0.0%/3  Yes          N/A           0.0518%         $0.00    $18,377.00
----------------------------------------------------------------------------------------------------------------------------------
  40        Crossroads Plaza Shopping
            Center                          N/A    Lock/117_0.0%/3  Yes          N/A           0.0518%         $0.00         $0.00
----------------------------------------------------------------------------------------------------------------------------------
  46        306 Belmont Street           9/1/2010  YM1/80_0.0%/4    No           T-Flat        0.0518%         $0.00         $0.00
----------------------------------------------------------------------------------------------------------------------------------
  48        Canterbury Woods Apartments     N/A    Lock/117_0.0%/3  Yes          N/A           0.0518%         $0.00   $100,000.00
----------------------------------------------------------------------------------------------------------------------------------
  49        Oakbrook Village                N/A    Lock/117_0.0%/3  Yes          N/A           0.0518%   $140,875.00    $96,600.00
----------------------------------------------------------------------------------------------------------------------------------
  51        Concord Self Storage            N/A    Lock/177_0.0%/3  Yes          N/A           0.0518%         $0.00         $0.00
----------------------------------------------------------------------------------------------------------------------------------
  52        Chatsworth Industrial           N/A    Lock/117_0.0%/3  Yes          N/A           0.0518%   $201,105.00    $21,395.00
----------------------------------------------------------------------------------------------------------------------------------
  55        8520 Tyco Road               7/1/2013  Lock/115_0.0%/5  Yes          N/A           0.0518%   $255,750.00         $0.00
----------------------------------------------------------------------------------------------------------------------------------
  60        Corona del Sol Plaza            N/A    Lock/117_0.0%/3  Yes          N/A           0.1018%         $0.00     $9,079.00
----------------------------------------------------------------------------------------------------------------------------------
  74        Park Square Center              N/A    Lock/117_0.0%/3  Yes          N/A           0.0518%         $0.00     $8,282.00
----------------------------------------------------------------------------------------------------------------------------------
  77        Harbor Park                     N/A    Lock/117_0.0%/3  Yes          N/A           0.0518%    $18,750.00    $22,716.00
----------------------------------------------------------------------------------------------------------------------------------
  80        San Carlos Marketplace          N/A    Lock/117_0.0%/3  Yes          N/A           0.0518%         $0.00    $10,356.00
----------------------------------------------------------------------------------------------------------------------------------
  86        Onyx Office Building            N/A    Lock/117_0.0%/3  Yes          N/A           0.0518%         $0.00         $0.00
----------------------------------------------------------------------------------------------------------------------------------
  96        Walgreens - Reseda, CA       9/1/2013  Lock/116_0.0%/4  Yes          N/A           0.0518%         $0.00     $2,262.00
----------------------------------------------------------------------------------------------------------------------------------
  97        Walgreens - State & Wells    7/1/2013  Lock/116_0.0%/4  Yes          N/A           0.0518%         $0.00         $0.00
----------------------------------------------------------------------------------------------------------------------------------
  98        Walgreens - Vista            7/1/2013  Lock/116_0.0%/4  Yes          N/A           0.0518%         $0.00     $2,268.00
----------------------------------------------------------------------------------------------------------------------------------
  99        Walgreens - Lebanon, OH      9/1/2013  Lock/116_0.0%/4  Yes          N/A           0.0518%         $0.00     $2,100.00
----------------------------------------------------------------------------------------------------------------------------------
 102        Walgreens - Adams & Hamilton 7/1/2013  Lock/116_0.0%/4  Yes          N/A           0.0518%         $0.00         $0.00
----------------------------------------------------------------------------------------------------------------------------------
 104        Walgreens - Modesto          7/1/2013  Lock/116_0.0%/4  Yes          N/A           0.0518%         $0.00     $2,268.00
----------------------------------------------------------------------------------------------------------------------------------
 105        Carlton Club Apartments         N/A    Lock/117_0.0%/3  Yes          N/A           0.0518%         $0.00         $0.00
----------------------------------------------------------------------------------------------------------------------------------
 106        Walgreens - Omaha            7/1/2013  Lock/116_0.0%/4  Yes          N/A           0.0518%         $0.00         $0.00
----------------------------------------------------------------------------------------------------------------------------------
 107        Forest Heights Apartments       N/A    YM1/116_0.0%/4   No           T-Flat        0.1018%         $0.00    $35,200.00
----------------------------------------------------------------------------------------------------------------------------------
 115        Town Creek                      N/A    Lock/57_0.0%/3   Yes          N/A           0.0518%         $0.00    $21,000.00
----------------------------------------------------------------------------------------------------------------------------------
 121        Shoppes at Thoroughbred
            Village                      7/1/2013  Lock/116_0.0%/4  Yes          N/A           0.1518%      $375.00         $0.00
----------------------------------------------------------------------------------------------------------------------------------
 122        Zachary Shopping Center         N/A    YM1/79_0.0%/5    No           T-Flat        0.0518%        $0.00         $0.00
----------------------------------------------------------------------------------------------------------------------------------
 127        Walgreens - Scott & Illinois 6/1/2013  Lock/116_0.0%/4  Yes          N/A           0.0518%        $0.00         $0.00
----------------------------------------------------------------------------------------------------------------------------------
 128        West Sunset Blvd                N/A    Lock/117_0.0%/3  Yes          N/A           0.0518%        $0.00     $1,404.00
----------------------------------------------------------------------------------------------------------------------------------
 138        Shurgard of Hickory Hollow      N/A    Lock/117_0.0%/3  Yes          N/A           0.0518%        $0.00         $0.00
----------------------------------------------------------------------------------------------------------------------------------
 14A        94-104 Glenn                 2/1/2013  Lock/116_0.0%/4  Yes          N/A           0.1018%        $0.00         $0.00
----------------------------------------------------------------------------------------------------------------------------------
 14B        8 A-E Industrial Way         2/1/2013  Lock/116_0.0%/4  Yes          N/A           0.1018%        $0.00         $0.00
----------------------------------------------------------------------------------------------------------------------------------
 14C        13 Branch                    2/1/2013  Lock/116_0.0%/4  Yes          N/A           0.1018%        $0.00         $0.00
----------------------------------------------------------------------------------------------------------------------------------
 14D        90 Glenn                     2/1/2013  Lock/116_0.0%/4  Yes          N/A           0.1018%        $0.00         $0.00
----------------------------------------------------------------------------------------------------------------------------------
 14E        1 Branch                     2/1/2013  Lock/116_0.0%/4  Yes          N/A           0.1018%        $0.00         $0.00
----------------------------------------------------------------------------------------------------------------------------------
 66A        Shurgard of Franklin            N/A    Lock/117_0.0%/3  Yes          N/A           0.0518%        $0.00         $0.00
----------------------------------------------------------------------------------------------------------------------------------
 66B        Shurgard of Rivergate           N/A    Lock/117_0.0%/3  Yes          N/A           0.0518%        $0.00         $0.00
----------------------------------------------------------------------------------------------------------------------------------

                                                              B-2-3
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
                                                    LC & TI       Contractual    Tax &      Initial
                                                   Reserve at      Recurring   Insurance     Other
 #  Crossed               Loan Name               Origination        LC&TI      Escrows     Reserve
------------------------------------------------------------------------------------------------------
<S>  <C>   <C>                                      <C>          <C>           <C>         <C>
 3         Jefferson Pointe Shopping Center               $0          $0.00    None        $276,043.33

------------------------------------------------------------------------------------------------------
12         Shadle Center                                  $0          $0.00    Both         $32,500.00
------------------------------------------------------------------------------------------------------
13         Blackbaud Plaza                                $0          $0.00    None              $0.00
------------------------------------------------------------------------------------------------------
15         Harbor Pointe Apartments                       $0          $0.00    Both              $0.00
------------------------------------------------------------------------------------------------------
22         Sugarloaf Shopping Center                  $3,125     $37,500.00    Both              $0.00
------------------------------------------------------------------------------------------------------
39         Lantana Shopping Center                      $833      $9,996.00    Both          $8,140.00
------------------------------------------------------------------------------------------------------
40         Crossroads Plaza Shopping Center               $0          $0.00    Both              $0.00
------------------------------------------------------------------------------------------------------
46         306 Belmont Street                         $1,870     $22,440.00    Both              $0.00
------------------------------------------------------------------------------------------------------
48         Canterbury Woods Apartments                    $0          $0.00    Tax               $0.00
------------------------------------------------------------------------------------------------------
49         Oakbrook Village                               $0          $0.00    Both          $2,187.50
------------------------------------------------------------------------------------------------------
51         Concord Self Storage                           $0          $0.00    Both              $0.00
------------------------------------------------------------------------------------------------------
52         Chatsworth Industrial                    $150,000     $74,573.04    Both              $0.00
------------------------------------------------------------------------------------------------------
55         8520 Tyco Road                             $4,400     $52,800.00    Both              $0.00
------------------------------------------------------------------------------------------------------
60         Corona del Sol Plaza                       $2,500     $30,000.00    Both              $0.00
------------------------------------------------------------------------------------------------------
74         Park Square Center                       $100,000     $36,000.00    Both          $4,812.50
------------------------------------------------------------------------------------------------------
77         Harbor Park                                $5,122     $61,464.00    Both         $50,000.00
------------------------------------------------------------------------------------------------------
80         San Carlos Marketplace                         $0          $0.00    Both              $0.00
------------------------------------------------------------------------------------------------------
86         Onyx Office Building                           $0          $0.00    Both              $0.00
------------------------------------------------------------------------------------------------------
96         Walgreens - Reseda, CA                         $0          $0.00    None         $49,078.13
------------------------------------------------------------------------------------------------------
97         Walgreens - State & Wells                      $0          $0.00    None              $0.00
------------------------------------------------------------------------------------------------------
98         Walgreens - Vista                              $0          $0.00    None              $0.00
------------------------------------------------------------------------------------------------------
99         Walgreens - Lebanon, OH                        $0          $0.00    None              $0.00
------------------------------------------------------------------------------------------------------
102        Walgreens - Adams & Hamilton                   $0          $0.00    None              $0.00
------------------------------------------------------------------------------------------------------
104        Walgreens - Modesto                            $0          $0.00    None              $0.00
------------------------------------------------------------------------------------------------------
105        Carlton Club Apartments                        $0          $0.00    None              $0.00
------------------------------------------------------------------------------------------------------
106        Walgreens - Omaha                              $0          $0.00    None          $2,250.00
------------------------------------------------------------------------------------------------------
107        Forest Heights Apartments                      $0          $0.00    Both              $0.00
------------------------------------------------------------------------------------------------------
115        Town Creek                                     $0          $0.00    Both              $0.00
------------------------------------------------------------------------------------------------------
121        Shoppes at Thoroughbred Village           $25,000          $0.00    Both              $0.00
------------------------------------------------------------------------------------------------------
122        Zachary Shopping Center                    $1,667     $20,004.00    Both              $0.00
------------------------------------------------------------------------------------------------------
127        Walgreens - Scott & Illinois                   $0          $0.00    None          $1,585.42
------------------------------------------------------------------------------------------------------
128        West Sunset Blvd                               $0          $0.00    Both              $0.00
------------------------------------------------------------------------------------------------------
138        Shurgard of Hickory Hollow                     $0          $0.00    None              $0.00
------------------------------------------------------------------------------------------------------
14A        94-104 Glenn                             $165,723          $0.00    Both              $0.00
------------------------------------------------------------------------------------------------------
14B        8 A-E Industrial Way                     $140,422          $0.00    Both              $0.00
------------------------------------------------------------------------------------------------------
14C        13 Branch                                 $73,373          $0.00    Both              $0.00
------------------------------------------------------------------------------------------------------
14D        90 Glenn                                  $24,036          $0.00    Both          $8,000.00
------------------------------------------------------------------------------------------------------
14E        1 Branch                                  $16,446          $0.00    Both          $8,000.00
------------------------------------------------------------------------------------------------------
66A        Shurgard of Franklin                           $0          $0.00    None              $0.00
------------------------------------------------------------------------------------------------------
66B        Shurgard of Rivergate                          $0          $0.00    None              $0.00
------------------------------------------------------------------------------------------------------

<CAPTION>

                                                                   Initial Other                     Initial       Initial
                                                                      Reserve                     Debt Service   Replacement
 #  Crossed               Loan Name                                 Description                      Reserve       Reserve
----------------------------------------------------------------------------------------------------------------------------
<S>  <C>   <C>                              <C>                                                    <C>          <C>
 3         Jefferson Pointe Shopping Center Holdback for acceptable tenant estoppels from Red Star      $0.00         $0.00
                                            and Bed Bath & Beyond
----------------------------------------------------------------------------------------------------------------------------
12         Shadle Center                    Released when Wal-Mart begins paying increased rent         $0.00     $1,525.00
----------------------------------------------------------------------------------------------------------------------------
13         Blackbaud Plaza                  N/A                                                         $0.00         $0.00
----------------------------------------------------------------------------------------------------------------------------
15         Harbor Pointe Apartments         N/A                                                         $0.00   $167,354.17
----------------------------------------------------------------------------------------------------------------------------
22         Sugarloaf Shopping Center        N/A                                                         $0.00     $1,240.00
----------------------------------------------------------------------------------------------------------------------------
39         Lantana Shopping Center          Holdback Reserve for Beall's                                $0.00     $1,531.42
----------------------------------------------------------------------------------------------------------------------------
40         Crossroads Plaza Shopping Center N/A                                                         $0.00         $0.00
----------------------------------------------------------------------------------------------------------------------------
46         306 Belmont Street               N/A                                                         $0.00         $0.00
----------------------------------------------------------------------------------------------------------------------------
48         Canterbury Woods Apartments      N/A                                                         $0.00         $0.00
----------------------------------------------------------------------------------------------------------------------------
49         Oakbrook Village                 Mold Remediation Reserve                                    $0.00     $8,050.00
----------------------------------------------------------------------------------------------------------------------------
51         Concord Self Storage             N/A                                                         $0.00         $0.00
----------------------------------------------------------------------------------------------------------------------------
52         Chatsworth Industrial            N/A                                                         $0.00     $1,782.92
----------------------------------------------------------------------------------------------------------------------------
55         8520 Tyco Road                   N/A                                                         $0.00         $0.00
----------------------------------------------------------------------------------------------------------------------------
60         Corona del Sol Plaza             N/A                                                         $0.00       $756.58
----------------------------------------------------------------------------------------------------------------------------
74         Park Square Center               Sears Estoppel Certificate Reserve                          $0.00       $690.17
----------------------------------------------------------------------------------------------------------------------------
77         Harbor Park                      Borrower has 6 months to transfer certain property          $0.00     $1,893.00
----------------------------------------------------------------------------------------------------------------------------
80         San Carlos Marketplace           N/A                                                         $0.00       $863.00
----------------------------------------------------------------------------------------------------------------------------
86         Onyx Office Building             N/A                                                         $0.00         $0.00
----------------------------------------------------------------------------------------------------------------------------
96         Walgreens - Reseda, CA           Escrow for Walgreens punchlist items                        $0.00       $188.50
----------------------------------------------------------------------------------------------------------------------------
97         Walgreens - State & Wells        N/A                                                         $0.00         $0.00
----------------------------------------------------------------------------------------------------------------------------
98         Walgreens - Vista                N/A                                                         $0.00         $0.00
----------------------------------------------------------------------------------------------------------------------------
99         Walgreens - Lebanon, OH          N/A                                                         $0.00       $175.00
----------------------------------------------------------------------------------------------------------------------------
102        Walgreens - Adams & Hamilton     N/A                                                         $0.00         $0.00
----------------------------------------------------------------------------------------------------------------------------
104        Walgreens - Modesto              N/A                                                         $0.00       $189.00
----------------------------------------------------------------------------------------------------------------------------
105        Carlton Club Apartments          N/A                                                         $0.00         $0.00
----------------------------------------------------------------------------------------------------------------------------
106        Walgreens - Omaha                Escrow for Walgreens punchlist items                        $0.00         $0.00
----------------------------------------------------------------------------------------------------------------------------
107        Forest Heights Apartments        N/A                                                    $20,000.00     $2,933.33
----------------------------------------------------------------------------------------------------------------------------
115        Town Creek                       N/A                                                         $0.00     $1,750.00
----------------------------------------------------------------------------------------------------------------------------
121        Shoppes at Thoroughbred Village  N/A                                                         $0.00     $5,328.00
----------------------------------------------------------------------------------------------------------------------------
122        Zachary Shopping Center          N/A                                                         $0.00         $0.00
----------------------------------------------------------------------------------------------------------------------------
127        Walgreens - Scott & Illinois     Escrow Agreement for CAM charges.                           $0.00         $0.00
----------------------------------------------------------------------------------------------------------------------------
128        West Sunset Blvd                 N/A                                                         $0.00       $117.00
----------------------------------------------------------------------------------------------------------------------------
138        Shurgard of Hickory Hollow       N/A                                                         $0.00         $0.00
----------------------------------------------------------------------------------------------------------------------------
14A        94-104 Glenn                     N/A                                                         $0.00    $71,943.47
----------------------------------------------------------------------------------------------------------------------------
14B        8 A-E Industrial Way             N/A                                                         $0.00    $60,959.73
----------------------------------------------------------------------------------------------------------------------------
14C        13 Branch                        N/A                                                         $0.00    $31,852.83
----------------------------------------------------------------------------------------------------------------------------
14D        90 Glenn                         Holdback Reserve                                            $0.00    $10,434.55
----------------------------------------------------------------------------------------------------------------------------
14E        1 Branch                         Holdback Reserve                                            $0.00     $7,139.43
----------------------------------------------------------------------------------------------------------------------------
66A        Shurgard of Franklin             N/A                                                         $0.00         $0.00
----------------------------------------------------------------------------------------------------------------------------
66B        Shurgard of Rivergate            N/A                                                         $0.00         $0.00
----------------------------------------------------------------------------------------------------------------------------

<CAPTION>

                                            Letter of                                         Earnout
 #  Crossed               Loan Name           Credit         Letter of Credit Description     Reserve
--------------------------------------------------------------------------------------------------------
<S>  <C>   <C>                             <C>          <C>                               <C>
 3         Jefferson Pointe Shopping Center       $0.00 N/A                               $3,000,000.00
--------------------------------------------------------------------------------------------------------
12         Shadle Center                          $0.00 N/A                               $1,000,000.00
--------------------------------------------------------------------------------------------------------
13         Blackbaud Plaza              $2,000,000.00 In lieu of all escrows                      $0.00
--------------------------------------------------------------------------------------------------------
15         Harbor Pointe Apartments               $0.00 N/A                                       $0.00
--------------------------------------------------------------------------------------------------------
22         Sugarloaf Shopping Center              $0.00 N/A                               $2,580,000.00
--------------------------------------------------------------------------------------------------------
39         Lantana Shopping Center                $0.00 N/A                                       $0.00
--------------------------------------------------------------------------------------------------------
40         Crossroads Plaza Shopping Center       $0.00 N/A                                       $0.00
--------------------------------------------------------------------------------------------------------
46         306 Belmont Street                     $0.00 N/A                                 $634,875.00
--------------------------------------------------------------------------------------------------------
48         Canterbury Woods Apartments            $0.00 N/A                                       $0.00
--------------------------------------------------------------------------------------------------------
49         Oakbrook Village                       $0.00 N/A                                       $0.00
--------------------------------------------------------------------------------------------------------
51         Concord Self Storage                   $0.00 N/A                                       $0.00
--------------------------------------------------------------------------------------------------------
52         Chatsworth Industrial                  $0.00 N/A                                       $0.00
--------------------------------------------------------------------------------------------------------
55         8520 Tyco Road                         $0.00 N/A                                       $0.00
--------------------------------------------------------------------------------------------------------
60         Corona del Sol Plaza                   $0.00 N/A                                       $0.00
--------------------------------------------------------------------------------------------------------
74         Park Square Center                     $0.00 N/A                                       $0.00
--------------------------------------------------------------------------------------------------------
77         Harbor Park                            $0.00 N/A                                       $0.00
--------------------------------------------------------------------------------------------------------
80         San Carlos Marketplace                 $0.00 N/A                                       $0.00
--------------------------------------------------------------------------------------------------------
86         Onyx Office Building                   $0.00 N/A                                       $0.00
--------------------------------------------------------------------------------------------------------
96         Walgreens - Reseda, CA                 $0.00 N/A                                       $0.00
--------------------------------------------------------------------------------------------------------
97         Walgreens - State & Wells              $0.00 N/A                                       $0.00
--------------------------------------------------------------------------------------------------------
98         Walgreens - Vista                      $0.00 N/A                                       $0.00
--------------------------------------------------------------------------------------------------------
99         Walgreens - Lebanon, OH                $0.00 N/A                                       $0.00
--------------------------------------------------------------------------------------------------------
102        Walgreens - Adams & Hamilton           $0.00 N/A                                       $0.00
--------------------------------------------------------------------------------------------------------
104        Walgreens - Modesto                    $0.00 N/A                                       $0.00
--------------------------------------------------------------------------------------------------------
105        Carlton Club Apartments                $0.00 N/A                                       $0.00
--------------------------------------------------------------------------------------------------------
106        Walgreens - Omaha                      $0.00 N/A                                       $0.00
--------------------------------------------------------------------------------------------------------
107        Forest Heights Apartments              $0.00 N/A                                       $0.00
--------------------------------------------------------------------------------------------------------
115        Town Creek                             $0.00 N/A                                  $50,000.00
--------------------------------------------------------------------------------------------------------
121        Shoppes at Thoroughbred Village        $0.00 N/A                                       $0.00
--------------------------------------------------------------------------------------------------------
122        Zachary Shopping Center                $0.00 N/A                                       $0.00
--------------------------------------------------------------------------------------------------------
127        Walgreens - Scott & Illinois           $0.00 N/A                                       $0.00
--------------------------------------------------------------------------------------------------------
128        West Sunset Blvd                       $0.00 N/A                                       $0.00
--------------------------------------------------------------------------------------------------------
138        Shurgard of Hickory Hollow             $0.00 N/A                                       $0.00
--------------------------------------------------------------------------------------------------------
14A        94-104 Glenn                           $0.00 N/A                                       $0.00
--------------------------------------------------------------------------------------------------------
14B        8 A-E Industrial Way                   $0.00 N/A                                       $0.00
--------------------------------------------------------------------------------------------------------
14C        13 Branch                              $0.00 N/A                                       $0.00
--------------------------------------------------------------------------------------------------------
14D        90 Glenn                               $0.00 N/A                                       $0.00
--------------------------------------------------------------------------------------------------------
14E        1 Branch                               $0.00 N/A                                       $0.00
--------------------------------------------------------------------------------------------------------
66A        Shurgard of Franklin                   $0.00 N/A                                       $0.00
--------------------------------------------------------------------------------------------------------
66B        Shurgard of Rivergate                  $0.00 N/A                                       $0.00
--------------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
 # Crossed               Loan Name                                             Earnout Reserve Description
-----------------------------------------------------------------------------------------------------------------------------------
<S> <C>   <C>                              <C>
 3        Jefferson Pointe Shopping Center Release in full upon: property must achieve annualized EGI of $7,353,612
-----------------------------------------------------------------------------------------------------------------------------------
12        Shadle Center                    Release in full upon: 1) Property achieves occupancy of 92% at average rental rate of
                                           $17.63 psf
-----------------------------------------------------------------------------------------------------------------------------------

<CAPTION>

                                                 Additional   Additional
                                                 Collateral   Collateral
 #  Crossed               Loan Name                Amount     Event Date               Additional Collateral Description
-----------------------------------------------------------------------------------------------------------------------------------
<S>  <C>   <C>                              <C>                 <C>     <C>
 3         Jefferson Pointe Shopping Center $3,000,000.00       1/18/05 Release in full upon: property achieves annualized EGI
                                                                        of $7,353,612
-----------------------------------------------------------------------------------------------------------------------------------
12         Shadle Center                    $1,000,000.00       7/17/05 Release in full upon: 1) Property achieves occupancy of 92%
                                                                        at average rental rate of $17.63 psf
-----------------------------------------------------------------------------------------------------------------------------------
</TABLE>

                                                               B-2-4

<PAGE>

<TABLE>
<CAPTION>
 # Crossed               Loan Name                                             Earnout Reserve Description
-----------------------------------------------------------------------------------------------------------------------------------
<S> <C>   <C>                              <C>
-----------------------------------------------------------------------------------------------------------------------------------
13        Blackbaud Plaza                  N/A
-----------------------------------------------------------------------------------------------------------------------------------
15        Harbor Pointe Apartments         N/A
-----------------------------------------------------------------------------------------------------------------------------------
22        Sugarloaf Shopping Center        Release in full upon: i) Occupancy of 92.3% (excluding Publix) with avg. rental rate of
                                           $17.64 psf, ii) Tenant estoppel for each New Tenant
-----------------------------------------------------------------------------------------------------------------------------------
39        Lantana Shopping Center          N/A
-----------------------------------------------------------------------------------------------------------------------------------
40        Crossroads Plaza Shopping Center N/A
-----------------------------------------------------------------------------------------------------------------------------------
46        306 Belmont Street               Release in full upon: i) exterior completion of 350 Plantation, ii) endorsement to title
                                           insurance policy, iii) estoppel certificate for Brockton Area Multi-Services, iv)
                                           completion of remaining 5,826 sf of 350 Plantation
-----------------------------------------------------------------------------------------------------------------------------------
48        Canterbury Woods Apartments      N/A
-----------------------------------------------------------------------------------------------------------------------------------
49        Oakbrook Village                 N/A
-----------------------------------------------------------------------------------------------------------------------------------
51        Concord Self Storage             N/A
-----------------------------------------------------------------------------------------------------------------------------------
52        Chatsworth Industrial            N/A
-----------------------------------------------------------------------------------------------------------------------------------
55        8520 Tyco Road                   N/A
-----------------------------------------------------------------------------------------------------------------------------------
60        Corona del Sol Plaza             N/A
-----------------------------------------------------------------------------------------------------------------------------------
74        Park Square Center               N/A
-----------------------------------------------------------------------------------------------------------------------------------
77        Harbor Park                      N/A
-----------------------------------------------------------------------------------------------------------------------------------
80        San Carlos Marketplace           N/A
-----------------------------------------------------------------------------------------------------------------------------------
86        Onyx Office Building             N/A
-----------------------------------------------------------------------------------------------------------------------------------
96        Walgreens - Reseda, CA           N/A
-----------------------------------------------------------------------------------------------------------------------------------
97        Walgreens - State & Wells        N/A
-----------------------------------------------------------------------------------------------------------------------------------
98        Walgreens - Vista                N/A
-----------------------------------------------------------------------------------------------------------------------------------
99        Walgreens - Lebanon, OH          N/A
-----------------------------------------------------------------------------------------------------------------------------------
102       Walgreens - Adams & Hamilton     N/A
-----------------------------------------------------------------------------------------------------------------------------------
104       Walgreens - Modesto              N/A
-----------------------------------------------------------------------------------------------------------------------------------
105       Carlton Club Apartments          N/A
-----------------------------------------------------------------------------------------------------------------------------------
106       Walgreens - Omaha                N/A
-----------------------------------------------------------------------------------------------------------------------------------
107       Forest Heights Apartments        N/A
-----------------------------------------------------------------------------------------------------------------------------------
115       Town Creek                       Release in full upon: i) completion of the access gate, ii) full payment of all material
                                           and labor attributable to the completion
-----------------------------------------------------------------------------------------------------------------------------------
121       Shoppes at Thoroughbred Village  N/A
-----------------------------------------------------------------------------------------------------------------------------------
122       Zachary Shopping Center          N/A
-----------------------------------------------------------------------------------------------------------------------------------
127       Walgreens - Scott & Illinois     N/A
-----------------------------------------------------------------------------------------------------------------------------------
128       West Sunset Blvd                 N/A
-----------------------------------------------------------------------------------------------------------------------------------
138       Shurgard of Hickory Hollow       N/A
-----------------------------------------------------------------------------------------------------------------------------------
14A       94-104 Glenn                     N/A
-----------------------------------------------------------------------------------------------------------------------------------
14B       8 A-E Industrial Way             N/A
-----------------------------------------------------------------------------------------------------------------------------------
14C       13 Branch                        N/A
-----------------------------------------------------------------------------------------------------------------------------------
14D       90 Glenn                         N/A
-----------------------------------------------------------------------------------------------------------------------------------
14E       1 Branch                         N/A
-----------------------------------------------------------------------------------------------------------------------------------
66A       Shurgard of Franklin             N/A
-----------------------------------------------------------------------------------------------------------------------------------
66B       Shurgard of Rivergate            N/A
-----------------------------------------------------------------------------------------------------------------------------------

<CAPTION>

                                                 Additional   Additional
                                                 Collateral   Collateral
 #  Crossed               Loan Name                Amount     Event Date               Additional Collateral Description
-----------------------------------------------------------------------------------------------------------------------------------
<S>  <C>   <C>                              <C>                  <C>    <C>
13         Blackbaud Plaza                            N/A           N/A N/A
-----------------------------------------------------------------------------------------------------------------------------------
15         Harbor Pointe Apartments                   N/A           N/A N/A
-----------------------------------------------------------------------------------------------------------------------------------
22         Sugarloaf Shopping Center        $2,580,000.00        2/5/04 Release in full upon: i) Occupancy of 92.3% (excluding
                                                                        Publix) with avg. rental rate of $17.64 psf, ii) Tenant
                                                                        estoppel for each New Tenant
-----------------------------------------------------------------------------------------------------------------------------------
39         Lantana Shopping Center                    N/A           N/A N/A
-----------------------------------------------------------------------------------------------------------------------------------
40         Crossroads Plaza Shopping Center           N/A           N/A N/A
-----------------------------------------------------------------------------------------------------------------------------------
46         306 Belmont Street                 $634,875.00       2/18/04 Release in full upon: i) exterior completion of 350
                                                                        Plantation, ii) endorsement to title insurance policy, iii)
                                                                        estoppel certificate for Brockton Area Multi-Services, iv)
                                                                        completion of remaining 5,826 sf of 350 Plantation
-----------------------------------------------------------------------------------------------------------------------------------
48         Canterbury Woods Apartments                N/A           N/A N/A
-----------------------------------------------------------------------------------------------------------------------------------
49         Oakbrook Village                           N/A           N/A N/A
-----------------------------------------------------------------------------------------------------------------------------------
51         Concord Self Storage                       N/A           N/A N/A
-----------------------------------------------------------------------------------------------------------------------------------
52         Chatsworth Industrial                      N/A           N/A N/A
-----------------------------------------------------------------------------------------------------------------------------------
55         8520 Tyco Road                             N/A           N/A N/A
-----------------------------------------------------------------------------------------------------------------------------------
60         Corona del Sol Plaza                       N/A           N/A N/A
-----------------------------------------------------------------------------------------------------------------------------------
74         Park Square Center                         N/A           N/A N/A
-----------------------------------------------------------------------------------------------------------------------------------
77         Harbor Park                                N/A           N/A N/A
-----------------------------------------------------------------------------------------------------------------------------------
80         San Carlos Marketplace                     N/A           N/A N/A
-----------------------------------------------------------------------------------------------------------------------------------
86         Onyx Office Building                       N/A           N/A N/A
-----------------------------------------------------------------------------------------------------------------------------------
96         Walgreens - Reseda, CA                     N/A           N/A N/A
-----------------------------------------------------------------------------------------------------------------------------------
97         Walgreens - State & Wells                  N/A           N/A N/A
-----------------------------------------------------------------------------------------------------------------------------------
98         Walgreens - Vista                          N/A           N/A N/A
-----------------------------------------------------------------------------------------------------------------------------------
99         Walgreens - Lebanon, OH                    N/A           N/A N/A
-----------------------------------------------------------------------------------------------------------------------------------
102        Walgreens - Adams & Hamilton               N/A           N/A N/A
-----------------------------------------------------------------------------------------------------------------------------------
104        Walgreens - Modesto                        N/A           N/A N/A
-----------------------------------------------------------------------------------------------------------------------------------
105        Carlton Club Apartments                    N/A           N/A N/A
-----------------------------------------------------------------------------------------------------------------------------------
106        Walgreens - Omaha                          N/A           N/A N/A
-----------------------------------------------------------------------------------------------------------------------------------
107        Forest Heights Apartments                  N/A           N/A N/A
-----------------------------------------------------------------------------------------------------------------------------------
115        Town Creek                          $50,000.00        9/8/03 Release in full upon: i) completion of the access gate, ii)
                                                                        full payment of all materials and labor attributable to the
                                                                        completion
-----------------------------------------------------------------------------------------------------------------------------------
121        Shoppes at Thoroughbred Village            N/A           N/A N/A
-----------------------------------------------------------------------------------------------------------------------------------
122        Zachary Shopping Center                    N/A           N/A N/A
-----------------------------------------------------------------------------------------------------------------------------------
127        Walgreens - Scott & Illinois               N/A           N/A N/A
-----------------------------------------------------------------------------------------------------------------------------------
128        West Sunset Blvd                           N/A           N/A N/A
-----------------------------------------------------------------------------------------------------------------------------------
138        Shurgard of Hickory Hollow                 N/A           N/A N/A
-----------------------------------------------------------------------------------------------------------------------------------
14A        94-104 Glenn                               N/A           N/A N/A
-----------------------------------------------------------------------------------------------------------------------------------
14B        8 A-E Industrial Way                       N/A           N/A N/A
-----------------------------------------------------------------------------------------------------------------------------------
14C        13 Branch                                  N/A           N/A N/A
-----------------------------------------------------------------------------------------------------------------------------------
14D        90 Glenn                                   N/A           N/A N/A
-----------------------------------------------------------------------------------------------------------------------------------
14E        1 Branch                                   N/A           N/A N/A
-----------------------------------------------------------------------------------------------------------------------------------
66A        Shurgard of Franklin                       N/A           N/A N/A
-----------------------------------------------------------------------------------------------------------------------------------
66B        Shurgard of Rivergate                      N/A           N/A N/A
-----------------------------------------------------------------------------------------------------------------------------------

                                                               B-2-5
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
                            Loan Name          Existing Secondary        Description of Exisiting                 Description of
 #  Crossed                                        Financing                Secondary Financing                      Lock Box
-----------------------------------------------------------------------------------------------------------------------------------
<S>   <C>    <C>                                 <C>               <C>                                              <C>
 3           Jefferson Pointe Shopping Center         N/A          N/A                                              Springing
-----------------------------------------------------------------------------------------------------------------------------------
12           Shadle Center                            N/A          N/A                                                 N/A
-----------------------------------------------------------------------------------------------------------------------------------
13           Blackbaud Plaza                          N/A          N/A                                                 Hard
-----------------------------------------------------------------------------------------------------------------------------------
15           Harbor Pointe Apartments            $4,500,000.00     Mezzanine - Secured by ownership interest        Springing
-----------------------------------------------------------------------------------------------------------------------------------
22           Sugarloaf Shopping Center                N/A          N/A                                                 N/A
-----------------------------------------------------------------------------------------------------------------------------------
39           Lantana Shopping Center                  N/A          N/A                                                 N/A
-----------------------------------------------------------------------------------------------------------------------------------
40           Crossroads Plaza Shopping Center         N/A          N/A                                              Springing
-----------------------------------------------------------------------------------------------------------------------------------
46           306 Belmont Street                       N/A          N/A                                              Springing
-----------------------------------------------------------------------------------------------------------------------------------
48           Canterbury Woods Apartments              N/A          N/A                                                 N/A
-----------------------------------------------------------------------------------------------------------------------------------
49           Oakbrook Village                         N/A          N/A                                                 N/A
-----------------------------------------------------------------------------------------------------------------------------------
51           Concord Self Storage                     N/A          N/A                                                 N/A
-----------------------------------------------------------------------------------------------------------------------------------
52           Chatsworth Industrial                    N/A          N/A                                              Springing
-----------------------------------------------------------------------------------------------------------------------------------
55           8520 Tyco Road                           N/A          N/A                                              Springing
-----------------------------------------------------------------------------------------------------------------------------------
60           Corona del Sol Plaza                     N/A          N/A                                                 N/A
-----------------------------------------------------------------------------------------------------------------------------------
74           Park Square Center                       N/A          N/A                                                 N/A
-----------------------------------------------------------------------------------------------------------------------------------
77           Harbor Park                              N/A          N/A                                                 N/A
-----------------------------------------------------------------------------------------------------------------------------------
80           San Carlos Marketplace                   N/A          N/A                                                 N/A
-----------------------------------------------------------------------------------------------------------------------------------
86           Onyx Office Building                     N/A          N/A                                                 N/A
-----------------------------------------------------------------------------------------------------------------------------------
96           Walgreens - Reseda, CA                   N/A          N/A                                                 Hard
-----------------------------------------------------------------------------------------------------------------------------------
97           Walgreens - State & Wells                N/A          N/A                                                 Hard
-----------------------------------------------------------------------------------------------------------------------------------
98           Walgreens - Vista                        N/A          N/A                                                 Hard
-----------------------------------------------------------------------------------------------------------------------------------
99           Walgreens - Lebanon, OH                  N/A          N/A                                                 Hard
-----------------------------------------------------------------------------------------------------------------------------------
102          Walgreens - Adams & Hamilton             N/A          N/A                                                 Hard
-----------------------------------------------------------------------------------------------------------------------------------
104          Walgreens - Modesto                      N/A          N/A                                                 Hard
-----------------------------------------------------------------------------------------------------------------------------------
105          Carlton Club Apartments                  N/A          N/A                                                 N/A
-----------------------------------------------------------------------------------------------------------------------------------
106          Walgreens - Omaha                        N/A          N/A                                                 Hard
-----------------------------------------------------------------------------------------------------------------------------------
107          Forest Heights Apartments                N/A          N/A                                                 N/A
-----------------------------------------------------------------------------------------------------------------------------------
115          Town Creek                               N/A          N/A                                                 N/A
-----------------------------------------------------------------------------------------------------------------------------------
121          Shoppes at Thoroughbred Village          N/A          N/A                                              Springing
-----------------------------------------------------------------------------------------------------------------------------------
122          Zachary Shopping Center                  N/A          N/A                                                 N/A
-----------------------------------------------------------------------------------------------------------------------------------
127          Walgreens - Scott & Illinois             N/A          N/A                                                 Hard
-----------------------------------------------------------------------------------------------------------------------------------
128          West Sunset Blvd                         N/A          N/A                                                 N/A
-----------------------------------------------------------------------------------------------------------------------------------
138          Shurgard of Hickory Hollow               N/A          N/A                                                 N/A
-----------------------------------------------------------------------------------------------------------------------------------
14A          94-104 Glenn                             N/A          N/A                                              Springing
-----------------------------------------------------------------------------------------------------------------------------------
14B          8 A-E Industrial Way                     N/A          N/A                                              Springing
-----------------------------------------------------------------------------------------------------------------------------------
14C          13 Branch                                N/A          N/A                                              Springing
-----------------------------------------------------------------------------------------------------------------------------------
14D          90 Glenn                                 N/A          N/A                                                 Hard
-----------------------------------------------------------------------------------------------------------------------------------
14E          1 Branch                                 N/A          N/A                                              Springing
-----------------------------------------------------------------------------------------------------------------------------------
66A          Shurgard of Franklin                     N/A          N/A                                                 N/A
-----------------------------------------------------------------------------------------------------------------------------------
66B          Shurgard of Rivergate                    N/A          N/A                                                 N/A
-----------------------------------------------------------------------------------------------------------------------------------

                                                               B-2-6
</TABLE>

<PAGE>

                                 EXHIBIT C-1

              LIST OF ADDITIONAL COLLATERAL TRUST MORTGAGE LOANS

                                     C-1-1

<PAGE>

<TABLE>
<CAPTION>
                                                                                                                             Zip
 #    Crossed               Property Name                               Address                    City         State       Code
---  ---------  ----------------------------------    --------------------------------------  -------------    -------     -------
<S>   <C>        <C>                                  <C>                                     <C>              <C>          <C>
 3               Jefferson Pointe Shopping Center     4410 West Jefferson Boulevard           Fort Wayne       IN           48604
12               Shadle Center                        2401 Wellesley Avenue                   Spokane          WA           99205
22               Sugarloaf Shopping Center            3370 Sugarloaf Parkway                  Lawrenceville    GA           30044
34               Expressway Mall                      575-605 Rohnert Park Expressway         Rohnert Park     CA           94928
35               Airline Shopping Center              2701 Airline Drive                      Metairie         LA           70001
36               Windward Village Shopping Center     11877 Douglas Road                      Alpharetta       GA           30005
42               5th & Lamar Retail/Office            907 West 5th Street                     Austin           TX           78703
                 Development
46               306 Belmont Street                   306 Belmont Street and 350 Plantation   Worcester        MA           01604
                                                      Street
91               Richland Village Shopping Center     1310-1396 Belt Line Road East           Richardson       TX           75081
115              Town Creek                           9727 Whitehurst Drive                   Dallas           TX           75243
139              2317-2335 Market Street              2317-2335 Market Street                 San Francisco    CA           94114

                                                                C-1-2
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
                                                                    Original      Cut-off Date
                                                    Mortgage       Principal       Principal       Maturity/ARD    Interest Only
 #   Crossed             Property Name             Loan Seller      Balance       Balance (1)      Balance (2)         Period
--- ---------   --------------------------------  ------------    -----------    --------------   ---------------- --------------
<S>  <C>        <C>                               <C>              <C>              <C>            <C>                         <C>
 3              Jefferson Pointe Shopping Center  KeyBank          $63,000,000      $63,000,000    $53,566,121.37              12
 12             Shadle Center                     KeyBank          $24,500,000      $24,473,658    $20,112,835.67               0
 22             Sugarloaf Shopping Center         KeyBank          $20,080,000      $20,080,000    $16,423,237.75               0
 34             Expressway Mall                   Column           $12,500,000      $12,440,396    $10,530,791.00               0
 35             Airline Shopping Center           Column           $12,000,000      $11,963,270     $9,994,854.37               0
 36             Windward Village Shopping Center  Column           $11,500,000      $11,456,352     $9,659,763.15               0
 42             5th & Lamar Retail/Office         Column            $9,950,000       $9,927,668     $7,514,139.41               0
                Development
 46             306 Belmont Street                KeyBank           $9,600,000       $9,600,000     $8,562,478.14               0
 91             Richland Village Shopping Center  Column            $3,700,000       $3,680,937     $3,155,540.05               0
115             Town Creek                        KeyBank           $2,640,000       $2,634,028     $2,425,460.33               0
139             2317-2335 Market Street           Column            $1,750,000       $1,741,386     $1,500,648.64               0

<CAPTION>

                                                    Original         Remaining       Original       Remaining      Mortgage
                                                 Amortization     Amortization       Term to        Term to       Interest
 #   Crossed             Property Name               Term             Term        Maturity (2)    Maturity (2)      Rate
--- ---------   --------------------------------  ------------    -----------    --------------   ---------------- --------------
<S>  <C>        <C>                                         <C>              <C>            <C>             <C>    <C>
 3              Jefferson Pointe Shopping Center            360              360            120             119    5.250%
 12             Shadle Center                               360              359            120             119    4.950%
 22             Sugarloaf Shopping Center                   360              360            120             120    4.840%
 34             Expressway Mall                             360              355            120             115    5.770%
 35             Airline Shopping Center                     360              357            120             117    5.400%
 36             Windward Village Shopping Center            360              356            120             116    5.670%
 42             5th & Lamar Retail/Office                   360              357            180             177    6.710%
                Development
 46             306 Belmont Street                          360              360             84              84    5.350%
 91             Richland Village Shopping Center            360              354            120             114    6.180%
115             Town Creek                                  360              358             60              58    4.740%
139             2317-2335 Market Street                     360              354            120             114    6.370%

<CAPTION>

                                                    Interest Calculation                       First
                                                        (30/360 /                            Payment
 #   Crossed             Property Name                 Actual/360)        Monthly Payment     Date
--- ---------   --------------------------------  ----------------------- ---------------   ----------
<S>  <C>        <C>                               <C>                         <C>           <C>
 3              Jefferson Pointe Shopping Center  Actual/360                  $347,888.33   9/1/2003
 12             Shadle Center                     Actual/360                  $130,773.65   9/1/2003
 22             Sugarloaf Shopping Center         Actual/360                  $105,838.84   10/1/2003
 34             Expressway Mall                   Actual/360                   $73,106.00   9/11/2003
 35             Airline Shopping Center           Actual/360                   $67,383.70   7/11/2003
 36             Windward Village Shopping Center  Actual/360                   $66,527.58   6/11/2003
 42             5th & Lamar Retail/Office         Actual/360                   $64,271.17   7/11/2003
                Development
 46             306 Belmont Street                Actual/360                   $53,607.71   10/1/2003
 91             Richland Village Shopping Center  Actual/360                   $22,613.36   4/11/2003
115             Town Creek                        Actual/360                   $13,755.58   8/1/2003
139             2317-2335 Market Street           Actual/360                   $10,912.00   4/11/2003
</TABLE>

<TABLE>
<CAPTION>
                                                                       Prepayment                        Yield
                                               Maturity             Provision as of    Defeasance     Maintenance Servicing and
 #  Crossed            Property Name            Date    ARD (8)    Origination (9)    Option (10)      Spread     Trustee Fees
--- ------- --------------------------------  --------- -------  -----------------   ------------  ------------- -------------
<S>  <C>    <C>                               <C>       <C>      <C>                 <C>           <C>                <C>
 3          Jefferson Pointe Shopping Center  8/1/2013    N/A    Lock/116_0.0%/4     Yes           N/A                0.0518%
 12         Shadle Center                     8/1/2013    N/A    YM1/116_0.0%/4      No            T-Flat             0.0518%
 22         Sugarloaf Shopping Center         9/1/2013    N/A    Lock/117_0.0%/3     Yes           N/A                0.0518%
 34         Expressway Mall                   4/1/2013    N/A    Lock/116_0.0%/4     Yes           N/A                0.0318%
 35         Airline Shopping Center           6/11/2013   N/A    Lock/117_0.0%/3     Yes           N/A                0.0318%
 36         Windward Village Shopping Center  5/11/2013   N/A    Lock/117_0.0%/3     Yes           N/A                0.0318%
 42         5th & Lamar Retail/Office         6/11/2018   N/A    Lock/177_0.0%/3     Yes           N/A                0.0318%
            Development
 46         306 Belmont Street                9/1/2033  9/1/2010 YM1/80_0.0%/4       No            T-Flat             0.0518%
 91         Richland Village Shopping Center  3/11/2013   N/A    Lock/117_0.0%/3     Yes           N/A                0.0818%
115         Town Creek                        7/1/2008    N/A    Lock/57_0.0%/3      Yes           N/A                0.0518%
139         2317-2335 Market Street           3/11/2013   N/A    Lock/114_0.0%/6     Yes           N/A                0.0318%

<CAPTION>

                                                          Contractual
                                             Engineering   Recurring                                                      Initial
                                             Reserve at   Replacement  LC & TI Reserve   Contractual    Tax & Insurance     Other
 #  Crossed            Property Name         Origination Reserve/FF&E  at Origination  Recurring LC&TI      Escrows        Reserve
--- ------- -------------------------------- ----------- ------------- --------------- --------------- ---------------- -----------
<S>  <C>    <C>                              <C>            <C>             <C>           <C>          <C>              <C>
 3          Jefferson Pointe Shopping Center  $57,300.00         $0.00            $0           $0.00   None             $276,043.33
 12         Shadle Center                          $0.00    $18,300.00            $0           $0.00   Both              $32,500.00
 22         Sugarloaf Shopping Center        $105,000.00    $14,880.00        $3,125      $37,500.00   Both                   $0.00
 34         Expressway Mall                   $17,000.00    $22,200.00      $200,000      $88,812.00   Both                   $0.00
 35         Airline Shopping Center                $0.00     $7,697.04            $0       $9,999.96   Both                   $0.00
 36         Windward Village Shopping Center       $0.00     $8,400.00            $0      $30,168.00   Both                   $0.00
 42         5th & Lamar Retail/Office              $0.00    $11,095.20      $100,000      $30,000.00   Insurance              $0.00
            Development
 46         306 Belmont Street                     $0.00         $0.00        $1,870      $22,440.00   Both                   $0.00
 91         Richland Village Shopping Center   $1,875.00         $0.00            $0      $48,000.00   Both                   $0.00
115         Town Creek                             $0.00    $21,000.00            $0           $0.00   Both                   $0.00
139         2317-2335 Market Street            $9,625.00     $1,250.04            $0           $0.00   Both                   $0.00

                                                                C-1-3
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
                                                                                                      Initial Debt       Initial
                                                                                                         Service       Replacement
 #  Crossed             Property Name                      Initial Other Reserve Description             Reserve         Reserve
--- ------- ------------------------------------- --------------------------------------------------- ------------ ----------------
<S>  <C>    <C>                                   <C>                                                        <C>   <C>
 3          Jefferson Pointe Shopping Center      Holdback for acceptable tenant estoppels from Red          $0.00            $0.00
                                                  Star and Bed Bath & Beyond
 12         Shadle Center                         Released when Wal-Mart begins paying increased rent        $0.00 $1,525.00
 22         Sugarloaf Shopping Center             N/A                                                        $0.00 $1,240.00
 34         Expressway Mall                       N/A                                                        $0.00            $0.00
                                                  N/A                                                        $0.00            $0.00
 35         Airline Shopping Center

 36         Windward Village Shopping Center      N/A                                                        $0.00            $0.00
 42         5th & Lamar Retail/Office Development N/A                                                        $0.00            $0.00
 46         306 Belmont Street                    N/A                                                        $0.00            $0.00
 91         Richland Village Shopping Center      N/A                                                        $0.00            $0.00
115         Town Creek                            N/A                                                        $0.00 $1,750.00
139         2317-2335 Market Street               N/A                                                        $0.00            $0.00

<CAPTION>

 #  Crossed             Property Name            Letter of Credit          Letter of Credit Description             Earnout Reserve
--- ------- ------------------------------------- --------------------------------------------------- ------------ ----------------
<S>  <C>    <C>                                     <C>          <C>                                                 <C>
 3          Jefferson Pointe Shopping Center              $0.00  N/A                                                 $3,000,000.00
 12         Shadle Center                                 $0.00  N/A                                                 $1,000,000.00
 22         Sugarloaf Shopping Center                     $0.00  N/A                                                 $2,580,000.00
 34         Expressway Mall                         $300,000.00  Release upon: i) DSCR of 1.35, ii) Gross Income             $0.00
                                                                 of $1,700,000
 35         Airline Shopping Center                 $200,000.00  Release upon: i) DSCR <= 1.20, ii) satisfactory             $0.00
                                                                 lease with Goodyear Tire and iii) receipt of
                                                                 tenant estoppel for Goodyear Tire.
 36         Windward Village Shopping Center              $0.00  N/A                                                 $1,000,000.00
 42         5th & Lamar Retail/Office Development         $0.00  N/A                                                   $550,000.00
 46         306 Belmont Street                            $0.00  N/A                                                   $634,875.00
 91         Richland Village Shopping Center              $0.00  N/A                                                   $150,000.00
115         Town Creek                                    $0.00  N/A                                                    $50,000.00
139         2317-2335 Market Street                       $0.00  N/A                                                     $6,812.50
</TABLE>

<TABLE>
<CAPTION>

 #    Crossed              Property Name                                    Earnout Reserve Description
---   -------  --------------------------------      ------------------------------------------------------------------------
<S>    <C>     <C>                                   <C>
 3             Jefferson Pointe Shopping Center      Release in full upon: property must achieve annualized EGI of $7,353,612
 12            Shadle Center                         Release in full upon: 1) Property achieves occupancy of 92% at average
                                                     rental rate of $17.63 psf
 22            Sugarloaf Shopping Center             Release in full upon: i) Occupancy of 92.3% (excluding Publix) with avg.
                                                     rental rate of $17.64 psf, ii) Tenant estoppel for each New Tenant
 34            Expressway Mall                       N/A
 35            Airline Shopping Center               N/A

 36            Windward Village Shopping Center      Release upon: i) Occupancy of 96%; ii) Monthly rental income of at least
                                                     $105,000; iii) DSCR of 1.43; Executed leases totaling 5,868 sf w/ rental
                                                     rate no less than $22 psf for min. term of 3 years.
 42            5th & Lamar Retail/Office Development Release upon: i) Garage/Retail improvements shall be fully completed; ii)
                                                     OfficeMax Confirmation verifying all OfficeMax Payments have been paid.
 46            306 Belmont Street                    Release in full upon: i) exterior completion of 350 Plantation, ii)
                                                     endorsement to title insurance policy, iii) estoppel certificate for
                                                     Brockton Area Multi-Services, iv) completion of remaining 5,826 sf of 350
                                                     Plantation
 91            Richland Village Shopping Center      Release upon: i) Completion of the Capital Improvements, ii) Evidence
                                                     that all parties have been paid for labor, iii) Invoices showing
                                                     costs no less than %150,000, iv) Base rental income of $540,000, v) Vacancy
                                                     no greater than 7%
115            Town Creek                            Release in full upon: i) completion of the access gate, ii) full payment
                                                     of all materials and labor attributable to the completion
139            2317-2335 Market Street               Release upon: i) on or before 6/20/2003 borrower should lender a permit
                                                     allowing Paolo Travel space to be used as an office; ii) on or before
                                                     8/4/2003 PauloTravel space shall be converted to residential from office.

<CAPTION>

                                                      Additional    Additional
                                                      Collateral    Collateral
 #    Crossed              Property Name                Amount      Event Date           Additional Collateral Description
---   -------  --------------------------------      ------------- -------------  -------------------------------------------------
<S>    <C>     <C>                                   <C>              <C>         <C>
 3             Jefferson Pointe Shopping Center      $3,000,000.00       1/18/05  Release in full upon: property achieves
                                                                                  annualized EGI of $7,353,612
 12            Shadle Center                         $1,000,000.00       7/17/05  Release in full upon: 1) Property achieves
                                                                                  occupancy of 92% at average rental rate of $17.63
                                                                                  psf
 22            Sugarloaf Shopping Center             $2,580,000.00        2/5/04  Release in full upon: i) Occupancy of 92.3%
                                                                                  (excluding Publix) with avg. rental rate of
                                                                                  $17.64 psf, ii) Tenant estoppel for each New
                                                                                  Tenant
 34            Expressway Mall                         $300,000.00     3/12/2004  Release upon: i) DSCR of 1.35, ii) Gross Income
                                                                                  of $1,700,000
 35            Airline Shopping Center                 $200,000.00    12/31/2004  Release upon: i) DSCR <= 1.20, ii) satisfactory
                                                                                  lease with Goodyear Tire and iii) receipt of
                                                                                  tenant estoppel for Goodyear Tire.
 36            Windward Village Shopping Center      $1,000,000.00    10/14/2004  Release upon: i) Occupancy of 96%; ii) Monthly
                                                                                  rental income of at least $105,000; iii) DSCR of
                                                                                  1.43; Executed leases totaling 5,868 sf w/rental
                                                                                  rate no less than $22 psf for min. term of 3
                                                                                  years.
 42            5th & Lamar Retail/Office Development   $550,000.00      6/9/2004  Release upon: i) Garage/Retail improvements shall
                                                                                  be fully completed; ii) OfficeMax Confirmation
                                                                                  verifying all OfficeMax Payments have been paid
 46            306 Belmont Street                      $634,875.00       2/18/04  Release in full upon: i) exterior completion of
                                                                                  350 Plantation, ii) endorsement to title
                                                                                  insurance policy, iii) estoppel certificate for
                                                                                  Brockton Area Multi-Services, iv) completion of
                                                                                  remaining 5,826 sf of 350 Plantation
 91            Richland Village Shopping Center        $150,000.00     2/11/2006  Release upon: i) Completion of the Capital
                                                                                  Improvements, ii) Evidence that all parties have
                                                                                  been paid for labor, iii) Invoices showing costs
                                                                                  no less than $150,000, iv) Base rental income of
                                                                                  $540,000, v) Vacancy no greater than 7%
115            Town Creek                               $50,000.00        9/8/03  Release in full upon: i) completion of the access
                                                                                  gate, ii) full payment of all
                                                                                  materials and labor attributable to the
                                                                                  completion
139            2317-2335 Market Street                   $6,812.50  6/20/2003 or  Release upon: i) on or before 6/20/2003 borrower
                                                                        8/4/2003  should lender a permit allowing Paolo Travel
                                                                                  space to be used as an office; ii) on or before
                                                                                  8/4/2003 PauloTravel space shall be converted to
                                                                                  residential from office.

                                                                C-1-4
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
                                                      Existing
                                                     Secondary                                                          Description
 #   Crossed              Property Name              Financing        Description of Existing Secondary Financing       of Lock Box
---  -------  -------------------------------------  ---------   -----------------------------------------------------  -----------
<S>   <C>     <C>                                     <C>        <C>                                                     <C>
 3            Jefferson Pointe Shopping Center          N/A      N/A                                                     Springing
 12           Shadle Center                             N/A      N/A                                                        N/A
 22           Sugarloaf Shopping Center                 N/A      N/A                                                        N/A
 34           Expressway Mall                           N/A      N/A                                                     Springing
 35           Airline Shopping Center                   N/A      N/A                                                        N/A
 36           Windward Village Shopping Center          N/A      N/A                                                        N/A
 42           5th & Lamar Retail/Office Development     N/A      N/A                                                        N/A
 46           306 Belmont Street                        N/A      N/A                                                     Springing
 91           Richland Village Shopping Center        $600,000   Mezzanine - Secured by the rights of limited partners      N/A
                                                                 based on partnership interests
115           Town Creek                                N/A      N/A                                                        N/A
139           2317-2335 Market Street                   N/A      N/A                                                        N/A

                                                                C-1-5
</TABLE>

<PAGE>

                                  EXHIBIT C-2

                            LIST OF MEZZANINE LOANS

                                      None

                                    C-2-1

<PAGE>

                                  EXHIBIT D-1

                  FORM OF MASTER SERVICER REQUEST FOR RELEASE

                                     [Date]

Wells Fargo Bank Minnesota, N.A.
751 Kasota Avenue, Suite MDC
Minneapolis, MN 55414
Attention:  Mortgage Document Custody (CMBS)

          Re:  Credit Suisse First Boston Mortgage Securities Corp., Commercial
               Mortgage Pass-Through Certificates, Series 2003-C4
               ----------------------------------------------------------------

          In connection with the administration of the Mortgage Files held by
or on behalf of you as trustee under the Pooling and Servicing Agreement,
dated as of September 11, 2003 (the "Pooling and Servicing Agreement"), among
Credit Suisse First Boston Mortgage Securities Corp., as depositor, KeyCorp
Real Estate Capital Markets, Inc., as master servicer (in such capacity, the
"Master Servicer"), Lennar Partners, Inc., as special servicer (in such
capacity, the "Special Servicer"), and you, as trustee (in such capacity, the
"Trustee"), the undersigned as Master 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 undersigned hereby certifies
         that all amounts received in connection with the Mortgage Loan that
         are required to be credited to the Collection Account or, if
         applicable, the Mayfair Mall Custodial Account or an A/B Loan Pair
         Custodial Account pursuant to the Pooling and Servicing Agreement,
         have been or will be so credited.

______   2.  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 has been paid in full, in which case the Mortgage File (or such
portion thereof) will be retained by us permanently.

                                    D-1-1

<PAGE>

          Capitalized terms used but not defined herein shall have the
meanings ascribed to them in the Pooling and Servicing Agreement.

                                        --------------------------------------
                                        as Master Servicer

                                        By:
                                             ---------------------------------
                                        Name:
                                        Title:

                                    D-1-2

<PAGE>

                                  EXHIBIT D-2

                  FORM OF SPECIAL SERVICER REQUEST FOR RELEASE

                                     [Date]

Wells Fargo Bank Minnesota, N.A.
751 Kasota Avenue, Suite MDC
Minneapolis, MN 55414
Attention:  Mortgage Document Custody (CMBS)

          Re:  Credit Suisse First Boston Mortgage Securities Corp., Commercial
               Mortgage Pass-Through Certificates, Series 2003-C4
               ----------------------------------------------------------------

          In connection with the administration of the Mortgage Files held by
or on behalf of you as trustee under a Pooling and Servicing Agreement, dated
as of September 11, 2003 (the "Pooling and Servicing Agreement"), among Credit
Suisse First Boston Mortgage Securities Corp., as depositor, KeyCorp Real
Estate Capital Markets, Inc., as master servicer (in such capacity, the
"Master Servicer"), Lennar Partners, Inc., as special servicer (in such
capacity, the "Special Servicer"), and you, as trustee (in such capacity, the
"Trustee"), the undersigned as 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.  The Mortgage Loan is being foreclosed.

______   2.  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.

                                    D-2-1

<PAGE>

          Capitalized terms used but not defined herein shall have the
meanings ascribed to them in the Pooling and Servicing Agreement.

                                   --------------------------------------------
                                   as Special Servicer

                                   By:
                                        ---------------------------------------
                                   Name:
                                   Title:

                                    D-2-2

<PAGE>

                                   EXHIBIT E

                             FORM OF TRUSTEE REPORT

<PAGE>

[WELLS FARGO LOGO OMITTED]

WELLS FARGO BANK MINNESOTA, N.A.
CORPORATE TRUST SERVICES
9062 OLD ANNAPOLIS ROAD
COLUMBIA, MD 21045-1951

              CREDIT SUISSE FIRST BOSTON MORTGAGE SECURITIES CORP.
                 COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES
                                 SERIES 2003-C4

- -----------------------------------------
For Additional Information please contact
       CTSLink Customer Service
            (301) 815-6600
 Reports Available on the World Wide Web
         @ www.ctslink.com/cmbs
- -----------------------------------------

Payment Date:   10/17/2003
Record Date:    09/30/2003

                          DISTRIBUTION DATE STATEMENT

                               TABLE OF CONTENTS
================================================================================

     STATEMENT SECTIONS                                               PAGE(s)
     ------------------                                               -------

     Certificate Distribution Detail                                     2
     Certificate Factor Detail                                           3
     Reconciliation Detail                                               4
     Other Required Information                                          5
     Cash Reconciliation                                                 6
     Ratings Detail                                                      7
     Current Mortgage Loan and Property Stratification Tables          8 - 10
     Mortgage Loan Detail                                               11
     Principal Prepayment Detail                                        12
     Historical Detail                                                  13
     Delinquency Loan Detail                                            14
     Specially Serviced Loan Detail                                   15 - 16
     Modified Loan Detail                                               17
     Liquidated Loan Detail                                             18

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

                                    DEPOSITOR
================================================================================

     Credit Suisse First Boston Mortgage
     Securities Corp.
     Eleven Madison Avenue
     New York, NY 10010

     Contact:       General Information Number
     Phone Number:  (212) 325-2000

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

                                 MASTER SERVICER
================================================================================

     KeyCorp Real Estate Capital Markets, Inc.
     911 Main Street, Suite 1500
     Kansas City, MO 64105

     Contact:       Marty O'Conner
     Phone Number:  (816) 221-8800

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

                                SPECIAL SERVICER
================================================================================

     Lennar Partners, Inc.
     1601 Washington Avenue
     Suite 800
     Miami Beach, FL 33139

     Contact:       Steve Bruha
     Phone Number:  (305) 229-6614

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

This report has been compiled from information provided to Wells Fargo Bank MN,
N.A. by various third parties, which may include the Master Servicer, Special
Servicer and others. Wells Fargo Bank MN, N.A. has not independently confirmed
the accuracy of information received from these third parties and assumes no
duty to do so. Wells Fargo Bank MN, N.A. expressly disclaims any responsibility
for the accuracy or completeness of information furnished by third parties.

Copyright 2003, Wells Fargo Bank Minnesota, N.A.                    Page 1 of 18

<PAGE>

[WELLS FARGO LOGO OMITTED]

WELLS FARGO BANK MINNESOTA, N.A.
CORPORATE TRUST SERVICES
9062 OLD ANNAPOLIS ROAD
COLUMBIA, MD 21045-1951

              CREDIT SUISSE FIRST BOSTON MORTGAGE SECURITIES CORP.
                 COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES
                                 SERIES 2003-C4

-----------------------------------------
For Additional Information please contact
       CTSLink Customer Service
            (301) 815-6600
 Reports Available on the World Wide Web
         @ www.ctslink.com/cmbs
-----------------------------------------

Payment Date:   10/17/2003
Record Date:    09/30/2003

                        CERTIFICATE DISTRIBUTION DETAIL
<TABLE>
<CAPTION>
====================================================================================================================================
                                                                                       Realized
                                                                                        Loss/
                  Pass-                                                               Additional                          Current
  Class/         Through  Original  Beginning   Principal      Interest   Prepayment  Trust Fund    Total      Ending  Subordination
Component  CUSIP   Rate    Balance   Balance   Distribution  Distribution  Premium     Expenses  Distribution  Balance     Level
----------------------------------------------------------------------------------------------------------------------------------
<S>       <C>    <C>         <C>       <C>         <C>            <C>         <C>         <C>        <C>         <C>        <C>
   A-1           0.000000%   0.00      0.00        0.00           0.00        0.00        0.00        0.00       0.00       0.00%
  A-1-A          0.000000%   0.00      0.00        0.00           0.00        0.00        0.00        0.00       0.00       0.00%
   A-2           0.000000%   0.00      0.00        0.00           0.00        0.00        0.00        0.00       0.00       0.00%
   A-3           0.000000%   0.00      0.00        0.00           0.00        0.00        0.00        0.00       0.00       0.00%
   A-4           0.000000%   0.00      0.00        0.00           0.00        0.00        0.00        0.00       0.00       0.00%
    B            0.000000%   0.00      0.00        0.00           0.00        0.00        0.00        0.00       0.00       0.00%
    C            0.000000%   0.00      0.00        0.00           0.00        0.00        0.00        0.00       0.00       0.00%
    D            0.000000%   0.00      0.00        0.00           0.00        0.00        0.00        0.00       0.00       0.00%
    E            0.000000%   0.00      0.00        0.00           0.00        0.00        0.00        0.00       0.00       0.00%
    F            0.000000%   0.00      0.00        0.00           0.00        0.00        0.00        0.00       0.00       0.00%
    G            0.000000%   0.00      0.00        0.00           0.00        0.00        0.00        0.00       0.00       0.00%
    H            0.000000%   0.00      0.00        0.00           0.00        0.00        0.00        0.00       0.00       0.00%
    J            0.000000%   0.00      0.00        0.00           0.00        0.00        0.00        0.00       0.00       0.00%
    K            0.000000%   0.00      0.00        0.00           0.00        0.00        0.00        0.00       0.00       0.00%
    L            0.000000%   0.00      0.00        0.00           0.00        0.00        0.00        0.00       0.00       0.00%
    M            0.000000%   0.00      0.00        0.00           0.00        0.00        0.00        0.00       0.00       0.00%
    N            0.000000%   0.00      0.00        0.00           0.00        0.00        0.00        0.00       0.00       0.00%
    O            0.000000%   0.00      0.00        0.00           0.00        0.00        0.00        0.00       0.00       0.00%
    P            0.000000%   0.00      0.00        0.00           0.00        0.00        0.00        0.00       0.00       0.00%
    Q            0.000000%   0.00      0.00        0.00           0.00        0.00        0.00        0.00       0.00       0.00%
    MM           0.000000%   0.00      0.00        0.00           0.00        0.00        0.00        0.00       0.00       0.00%
---------------------------------------------------------------------------------------------------------------------------------
 Totals
===================================================================================================================================
</TABLE>

<TABLE>
<CAPTION>
============================================================================================================
                                  Original   Beginning                                               Ending
                   Pass-Through   Notional    Notional     Interest     Prepayment      Total       Notional
  Class    CUSIP       Rate        Amount      Amount    Distribution     Premium    Distribution    Balance
----------------------------------------------------------------------------------------------------------
<S>        <C>     <C>            <C>        <C>         <C>            <C>          <C>            <C>
  A-X                0.000000%      0.00        0.00         0.00          0.00          0.00        0.00
  A-SP               0.000000%      0.00        0.00         0.00          0.00          0.00        0.00
============================================================================================================
</TABLE>

(1) Calculated by taking (A) the sum of the ending certificate balance of all
    classes less (B) the sum of (i) the ending certificate balance of the
    designated class and (ii) the ending certificate balance of all classes
    article are not subordinate to the designated class as dividing the result
    by (A).

Copyright 2003, Wells Fargo Bank Minnesota, N.A.                    Page 2 of 18
<PAGE>
[WELLS FARGO LOGO OMITTED]

WELLS FARGO BANK MINNESOTA, N.A.
CORPORATE TRUST SERVICES
9062 OLD ANNAPOLIS ROAD
COLUMBIA, MD 21045-1951

              CREDIT SUISSE FIRST BOSTON MORTGAGE SECURITIES CORP.
                 COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES
                                 SERIES 2003-C4

-----------------------------------------
For Additional Information please contact
       CTSLink Customer Service
            (301) 815-6600
 Reports Available on the World Wide Web
         @ www.ctslink.com/cmbs
-----------------------------------------

Payment Date:   10/17/2003
Record Date:    09/30/2003

                           CERTIFICATE FACTOR DETAIL
<TABLE>
<CAPTION>
==============================================================================================================
                                                                               Realized Loss/
                         Beginning   Principal      Interest     Prepayment   Additional Trust   Ending
  Class     CUSIP        Balance    Distribution  Distribution     Premium     Fund Expenses     Balance
--------------------------------------------------------------------------------------------------------------
<S>         <C>       <C>           <C>          <C>          <C>             <C>            <C>
   A-1                  0.00000000   0.00000000     0.00000000    0.00000000     0.00000000       0.00000000
  A-1-A                 0.00000000   0.00000000     0.00000000    0.00000000     0.00000000       0.00000000
   A-2                  0.00000000   0.00000000     0.00000000    0.00000000     0.00000000       0.00000000
   A-3                  0.00000000   0.00000000     0.00000000    0.00000000     0.00000000       0.00000000
   A-4                  0.00000000   0.00000000     0.00000000    0.00000000     0.00000000       0.00000000
    B                   0.00000000   0.00000000     0.00000000    0.00000000     0.00000000       0.00000000
    C                   0.00000000   0.00000000     0.00000000    0.00000000     0.00000000       0.00000000
    D                   0.00000000   0.00000000     0.00000000    0.00000000     0.00000000       0.00000000
    E                   0.00000000   0.00000000     0.00000000    0.00000000     0.00000000       0.00000000
    F                   0.00000000   0.00000000     0.00000000    0.00000000     0.00000000       0.00000000
    G                   0.00000000   0.00000000     0.00000000    0.00000000     0.00000000       0.00000000
    H                   0.00000000   0.00000000     0.00000000    0.00000000     0.00000000       0.00000000
    J                   0.00000000   0.00000000     0.00000000    0.00000000     0.00000000       0.00000000
    K                   0.00000000   0.00000000     0.00000000    0.00000000     0.00000000       0.00000000
    L                   0.00000000   0.00000000     0.00000000    0.00000000     0.00000000       0.00000000
    M                   0.00000000   0.00000000     0.00000000    0.00000000     0.00000000       0.00000000
    N                   0.00000000   0.00000000     0.00000000    0.00000000     0.00000000       0.00000000
    O                   0.00000000   0.00000000     0.00000000    0.00000000     0.00000000       0.00000000
    P                   0.00000000   0.00000000     0.00000000    0.00000000     0.00000000       0.00000000
    GQ                  0.00000000   0.00000000     0.00000000    0.00000000     0.00000000       0.00000000
    MM                  0.00000000   0.00000000     0.00000000    0.00000000     0.00000000       0.00000000
==============================================================================================================
</TABLE>

<TABLE>
<CAPTION>
=========================================================================
                        Beginning                                Ending
                         Notional    Interest     Prepayment    Notional
  Class      CUSIP       Amount    Distribution     Premium      Amount
-------------------------------------------------------------------------
<S>         <C>        <C>          <C>           <C>          <C>
  A-X                 0.00000000   0.00000000    0.00000000   0.00000000
  A-SP                0.00000000   0.00000000    0.00000000   0.00000000
=========================================================================
</TABLE>

Copyright 2003, Wells Fargo Bank Minnesota, N.A.                    Page 3 of 18

<PAGE>

[WELLS FARGO LOGO OMITTED]

WELLS FARGO BANK MINNESOTA, N.A.
CORPORATE TRUST SERVICES
9062 OLD ANNAPOLIS ROAD
COLUMBIA, MD 21045-1951

              CREDIT SUISSE FIRST BOSTON MORTGAGE SECURITIES CORP.
                 COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES
                                 SERIES 2003-C4

-----------------------------------------
For Additional Information please contact
       CTSLink Customer Service
            (301) 815-6600
 Reports Available on the World Wide Web
         @ www.ctslink.com/cmbs
-----------------------------------------

Payment Date:   10/17/2003
Record Date:    09/30/2003

                             RECONCILIATION DETAIL

          ADVANCE SUMMARY

P&I Advances Outstanding                               0.00
Servicing Advances Outstanding                         0.00

Reimbursements for Interest on P&I                     0.00
Advances paid from general collections

Reimbursements for Interest on Servicing               0.00
Advances paid from general collections

          MASTER SERVICING FEE SUMMARY

Current Period Accrued Master Servicing Fees                     0.00
Less Master Servicing Fees on Delinquent Payments                0.00
Less Reductions to Master Servicing Fees                         0.00
Plus Master Servicing Fees on Delinquent Payments Received       0.00
Plus Adjustments for Prior Master Servicing Calculation          0.00
Total Master Servicing Fees Collected                            0.00

CERTIFICATE INTEREST RECONCILIATION

<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------------------------------------
                      Uncovered                   Certificate
            Accrued   Prepayment                   Deferred          Unpaid    Optimal Interest Interest                Appraisal
Class     Certificate  Interest  Indemnification    Interest        Interest      Distribution  Shortfall    Interest   Reduction
           Interest    Shortfall    Expenses         Amount     Shortfall Amount     Amount       Amount   Distribution  Amount
---------------------------------------------------------------------------------------------------------------------------------
<S>        <C>        <C>         <C>            <C>             <C>           <C>              <C>        <C>          <C>
 A-1
A-1-A
 A-2
 A-3
 A-4
 A-X
 A-SP
  B
  C
  D
  E
  F
  G
  H
  J
  K
  L
  M
  N
  O
  P
  Q
-----------------------------------------------------------------------------------------------------------------------------------
Total
==================================================================================================================================
</TABLE>

Copyright 2003, Wells Fargo Bank Minnesota, N.A.                   Page 4 of 18

<PAGE>

[WELLS FARGO LOGO OMITTED]

WELLS FARGO BANK MINNESOTA, N.A.
CORPORATE TRUST SERVICES
9062 OLD ANNAPOLIS ROAD
COLUMBIA, MD 21045-1951

              CREDIT SUISSE FIRST BOSTON MORTGAGE SECURITIES CORP.
                 COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES
                                 SERIES 2003-C4

-----------------------------------------
For Additional Information please contact
       CTSLink Customer Service
            (301) 815-6600
 Reports Available on the World Wide Web
         @ www.ctslink.com/cmbs
-----------------------------------------

Payment Date:   10/17/2003
Record Date:    09/30/2003

                           OTHER REQUIRED INFORMATION

Available Distribution Amount                     0.00

Aggregate Number of Outstanding Loans                0
Aggregate Unpaid Principal Balance of Loans       0.00
Aggregate Stated Principal Balance of Loans       0.00

Aggregate Amount of Servicing Fee                 0.00
Aggregate Amount of Special Servicing Fee         0.00
Aggregate Amount of Trustee Fee                   0.00
Aggregate Amount of Primary Servicing Fee         0.00
Aggregate Trust Fund Expenses                     0.00

Specially Serviced Loans not Delinquent
        Number of Outstanding Loans                  0
        Aggregate Unpaid Principal Balance        0.00

Appraisal Reduction Amount

 -----------------------------------------------------
               Appraisal    Cumulative     Most Recent
  Loan         Reduction       ASER         App. Red.
 Number        Effected       Amount          Date
 -----------------------------------------------------

 -----------------------------------------------------
 Total
 =====================================================

Copyright 2003, Wells Fargo Bank Minnesota, N.A.                   Page 5 of 18

<PAGE>

[WELLS FARGO LOGO OMITTED]

WELLS FARGO BANK MINNESOTA, N.A.
CORPORATE TRUST SERVICES
9062 OLD ANNAPOLIS ROAD
COLUMBIA, MD 21045-1951

              CREDIT SUISSE FIRST BOSTON MORTGAGE SECURITIES CORP.
                 COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES
                                 SERIES 2003-C4

-----------------------------------------
For Additional Information please contact
       CTSLink Customer Service
            (301) 815-6600
 Reports Available on the World Wide Web
         @ www.ctslink.com/cmbs
-----------------------------------------

Payment Date:   10/17/2003
Record Date:    09/30/2003

                           CASH RECONCILIATION DETAIL

<TABLE>
<CAPTION>
<S>                                                                            <C>            <C>
TOTAL FUNDS COLLECTED
     INTEREST:
          Interest paid or advanced                                             0.00
          Interest reductions due to Non-Recoverability Determinations          0.00
          Interest Adjustments                                                  0.00
          Deferred Interest                                                     0.00
          Net Prepayment Interest Shortfall                                     0.00
          Net Prepayment Interest Excess                                        0.00
          Extension Interest                                                    0.00
          Interest Reserve Withdrawal                                           0.00
                                                                                     -------------
               TOTAL INTEREST COLLECTED                                                    0.00

     PRINCIPAL:
          Scheduled Principal                                                   0.00
          Unscheduled Principal                                                 0.00
               Principal Prepayments                                            0.00
               Collection of Principal after Maturity Date                      0.00
               Recoveries from Liquidation and Insurance Proceeds               0.00
               Excess of Prior Principal Amounts paid                           0.00
               Curtailments                                                     0.00
          Negative Amortization                                                 0.00
          Principal Adjustments                                                 0.00
                                                                                     -------------
               TOTAL PRINCIPAL COLLECTED                                                   0.00

     OTHER:
          Prepayment Penalties/Yield Maintenance                                0.00
          Repayment Fees                                                        0.00
          Borrower Option Extension Fees                                        0.00
          Equity Payments Received                                              0.00
          Net Swap Counterparty Payments Received                               0.00
                                                                                     -------------
               TOTAL OTHER COLLECTED                                                       0.00
                                                                                     -------------
TOTAL FUNDS COLLECTED                                                                      0.00
                                                                                     =============

TOTAL FUNDS DISTRIBUTED
     FEES:
          Master Servicing Fee                                                  0.00
          Trust Fee                                                             0.00
          Certificate Administration Fee                                        0.00
          Insurer Fee                                                           0.00
          Miscellaneous Fee                                                     0.00
                                                                                     -------------
               TOTAL FEES                                                                  0.00

     ADDITIONAL TRUST FUND EXPENSES:
          Reimbursement for Interest on Advances                                0.00
          ASER Amount                                                           0.00
          Special Servicing Fee                                                 0.00
          Reduction of funds due to Non-Recoverability Determinations           0.00
          Rating Agency Expenses                                                0.00
          Attorney Fees & Expenses                                              0.00
          Bankruptcy Expense                                                    0.00
          Taxes Imposed on Trust Fund                                           0.00
          Non-Recoverable Advances                                              0.00
          Other Expenses                                                        0.00
                                                                                     -------------
               TOTAL ADDITIONAL TRUST FUND EXPENSES                                        0.00

     INTEREST RESERVE DEPOSIT                                                              0.00

     PAYMENTS TO CERTIFICATEHOLDERS & OTHERS:
          Interest Distribution                                                 0.00
          Principal Distribution                                                0.00
          Prepayment Penalties/Yield Maintenance                                0.00
          Borrower Option Extension Fees                                        0.00
          Equity Payments Paid                                                  0.00
          Net Swap Counterparty Payments Paid                                   0.00
                                                                                     -------------
               TOTAL PAYMENTS TO CERTIFICATEHOLDERS & OTHERS                               0.00
                                                                                     -------------
TOTAL FUNDS DISTRIBUTED                                                                    0.00
                                                                                     =============

</TABLE>

Copyright 2003, Wells Fargo Bank Minnesota, N.A.                    Page 6 of 18

<PAGE>

[WELLS FARGO LOGO OMITTED]

WELLS FARGO BANK MINNESOTA, N.A.
CORPORATE TRUST SERVICES
9062 OLD ANNAPOLIS ROAD
COLUMBIA, MD 21045-1951

              CREDIT SUISSE FIRST BOSTON MORTGAGE SECURITIES CORP.
                 COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES
                                 SERIES 2003-C4

-----------------------------------------
For Additional Information please contact
       CTSLink Customer Service
            (301) 815-6600
 Reports Available on the World Wide Web
         @ www.ctslink.com/cmbs
-----------------------------------------

Payment Date:   10/17/2003
Record Date:    09/30/2003

                                 RATINGS DETAIL

<TABLE>
<CAPTION>
------------------------------------------------------------------------------------
                            Original Ratings              Current Ratings (1)
Class        CUSIP     --------------------------    -------------------------------
                          Fitch   Moody's   S&P          Fitch   Moody's   S&P
------------------------------------------------------------------------------------
<S>        <C>            <C>     <C>       <C>          <C>     <C>       <C>
 A-1
A-1-A
 A-2
 A-3
 A-4
 A-X
 A-SP
  B
  C
  D
  E
  F
  G
  H
  J
  K
  L
  M
  N
  O
  P
  Q
------------------------------------------------------------------------------------
</TABLE>

NR  - Designates that the class was not rated by the above agency at the time of
      original issuance.
X   - Designates that the above rating agency did not rate any classes in this
      transaction at the time of original issuance.
N/A - Data not available this period.

1) For any class not rated at the time of original issuance by any particular
rating agency, no request has been made subsequent to issuance to obtain rating
information, if any, from such rating agency. The current ratings were obtained
directly from the applicable rating agency within 30 days of the payment date
listed above. The ratings may have changed since they were obtained. Because the
ratings may have changed, you may want to obtain current ratings directly from
the rating agencies.

<TABLE>
<CAPTION>
<S>                        <C>                        <C>
Fitch, Inc.                Moody's Investors Service  Standard & Poor's Rating Services
One State Street Plaza     99 Church Street           55 Water Street
New York, New York 10004   New York, New York 10007   New York, New York 10041
(212) 908-0500             (212) 553-0300             (212) 438-2430
</TABLE>

Copyright 2003, Wells Fargo Bank Minnesota, N.A.                   Page 7 of 18

<PAGE>
[WELLS FARGO LOGO OMITTED]

WELLS FARGO BANK MINNESOTA, N.A.
CORPORATE TRUST SERVICES
9062 OLD ANNAPOLIS ROAD
COLUMBIA, MD 21045-1951

              CREDIT SUISSE FIRST BOSTON MORTGAGE SECURITIES CORP.
                 COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES
                                 SERIES 2003-C4

-----------------------------------------
For Additional Information please contact
       CTSLink Customer Service
            (301) 815-6600
 Reports Available on the World Wide Web
         @ www.ctslink.com/cmbs
-----------------------------------------

Payment Date:   10/17/2003
Record Date:    09/30/2003

            CURRENT MORTGAGE LOAN AND PROPERTY STRATIFICATION TABLES

                               SCHEDULED BALANCE

------------------------------------------------------------------------------
                                         % of
  Scheduled     # of      Scheduled      Agg.      WAM              Weighted
   Balance      loans      Balance       Bal.      (2)     WAC     Avg DSCR (1)
-------------------------------------------------------------------------------

-------------------------------------------------------------------------------
   Totals
===============================================================================

                                   STATE (3)

-------------------------------------------------------------------------------
                                          % of
                 # of      Scheduled      Agg.      WAM              Weighted
      State      Props.     Balance       Bal.      (2)     WAC     Avg DSCR (1)
-------------------------------------------------------------------------------

-------------------------------------------------------------------------------
   Totals
===============================================================================

See footnotes on last page of this section.

Copyright 2003, Wells Fargo Bank Minnesota, N.A.                    Page 8 of 18
<PAGE>

[WELLS FARGO LOGO OMITTED]

WELLS FARGO BANK MINNESOTA, N.A.
CORPORATE TRUST SERVICES
9062 OLD ANNAPOLIS ROAD
COLUMBIA, MD 21045-1951

              CREDIT SUISSE FIRST BOSTON MORTGAGE SECURITIES CORP.
                 COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES
                                 SERIES 2003-C4

-----------------------------------------
For Additional Information please contact
         CTSLink Customer Service
              (301) 815-6600
  Reports Available on the World Wide Web
          @ www.ctslink.com/cmbs
-----------------------------------------

Payment Date:   10/17/2003
Record Date:    09/30/2003

-------------------------------------------------------------------------------
            CURRENT MORTGAGE LOAN AND PROPERTY STRATIFICATION TABLES

<TABLE>
<CAPTION>
                          DEBT SERVICE COVERAGE RATIO
-------------------------------------------------------------------------------
                                        % of
 Debt Service      # of    Scheduled    Agg.     WAM                 Weighted
Coverage Ratio     loans     Balance    Bal.     (2)      WAC       Avg DSCR(1)
-------------------------------------------------------------------------------
<S>                 <C>     <C>          <C>      <C>      <C>       <C>

-------------------------------------------------------------------------------
    Totals
-------------------------------------------------------------------------------

<CAPTION>

                                    NOTE RATE
-------------------------------------------------------------------------------
                                         % of
     Note           # of    Scheduled    Agg.     WAM                 Weighted
     Rate           loans     Balance    Bal.     (2)      WAC       Avg DSCR(1)
--------------------------------------------------------------------------------
<S>                 <C>     <C>          <C>      <C>      <C>       <C>

-------------------------------------------------------------------------------
    Totals
-------------------------------------------------------------------------------

<CAPTION>
                                PROPERTY TYPE (3)
-------------------------------------------------------------------------------
                                         % of
                    # of    Scheduled    Agg.     WAM                 Weighted
Property Type      Props.    Balance     Bal.     (2)      WAC       Avg DSCR(1)
--------------------------------------------------------------------------------
<S>                 <C>     <C>          <C>      <C>      <C>       <C>

--------------------------------------------------------------------------------
    Totals
--------------------------------------------------------------------------------

<CAPTION>

                                   SEASONING
--------------------------------------------------------------------------------
                                         % of
                    # of    Scheduled    Agg.     WAM                 Weighted
  Seasoning         loans     Balance    Bal.     (2)      WAC       Avg DSCR(1)
--------------------------------------------------------------------------------
<S>                 <C>     <C>          <C>      <C>      <C>       <C>

--------------------------------------------------------------------------------
    Totals
--------------------------------------------------------------------------------
</TABLE>

See footnotes on last page of this section.

--------------------------------------------------------------------------------
Copyright 2003, Wells Fargo Bank Minnesota, N.A.                   Page 9 of 18

<PAGE>

[WELLS FARGO LOGO OMITTED]

WELLS FARGO BANK MINNESOTA, N.A.
CORPORATE TRUST SERVICES
9062 OLD ANNAPOLIS ROAD
COLUMBIA, MD 21045-1951

              CREDIT SUISSE FIRST BOSTON MORTGAGE SECURITIES CORP.
                 COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES
                                 SERIES 2003-C4

-----------------------------------------
For Additional Information please contact
         CTSLink Customer Service
              (301) 815-6600
  Reports Available on the World Wide Web
          @ www.ctslink.com/cmbs
-----------------------------------------

Payment Date:   10/17/2003
Record Date:    09/30/2003

-------------------------------------------------------------------------------
            CURRENT MORTGAGE LOAN AND PROPERTY STRATIFICATION TABLES

<TABLE>
<CAPTION>
               ANTICIPATED REMAINING TERM (ARD AND BALLOON LOANS)
--------------------------------------------------------------------------------
                                           % of
Anticipated Remaining   # of    Scheduled   Agg.     WAM              Weighted
    Term (2)           loans     Balance    Bal.     (2)      WAC    Avg DSCR(1)
--------------------------------------------------------------------------------
<S>                    <C>      <C>        <C>       <C>      <C>    <C>

-------------------------------------------------------------------------------
    Totals
-------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
               REMAINING AMORTIZATION TERM (ARD AND BALLOON LOANS)
-------------------------------------------------------------------------------
                                           % of
Remaining Amortization  # of    Scheduled   Agg.     WAM              Weighted
     Term              loans     Balance    Bal.     (2)      WAC    Avg DSCR(1)
-------------------------------------------------------------------------------
<S>                    <C>     <C>         <C>       <C>      <C>    <C>

-------------------------------------------------------------------------------
    Totals
-------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
                 REMAINING STATED TERM (FULLY AMORTIZING LOANS)
-------------------------------------------------------------------------------
                                         % of
Remaining Stated    # of    Scheduled    Agg.     WAM                 Weighted
    Term            loans    Balance     Bal.     (2)      WAC       Avg DSCR(1)
-------------------------------------------------------------------------------
<S>                 <C>     <C>          <C>      <C>      <C>       <C>

-------------------------------------------------------------------------------
    Totals
-------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
                             AGE OF MOST RECENT NOI
-------------------------------------------------------------------------------
                                        % of
  Age of Most       # of    Scheduled    Agg.     WAM                 Weighted
  Recent NOI       loans     Balance     Bal.     (2)      WAC       Avg DSCR(1)
-------------------------------------------------------------------------------
<S>                 <C>     <C>          <C>      <C>      <C>       <C>

-------------------------------------------------------------------------------
    Totals
-------------------------------------------------------------------------------
</TABLE>

(1) Debt Service Coverage Ratios are updated periodically as new NOI figures
become available from borrowers on an asset level. In all cases the most current
DSCR provided by the Servicer is used. To the extent that no DSCR is provided by
the Servicer, information from the offering document is used. The Trustee makes
no representations as to the accuracy of the data provided by the borrower for
this calculation.

(2) Anticipated Remaining Term and WAM are each calculated based upon the
term from the current month to the earlier of the Anticipated Repayment Date,
if applicable, and the Maturity Date.

(3) Data in this table was calculated by allocating pro-rata the current
loan information to the properties based upon the Cut-off Date Balance of each
property as disclosed in the offering document.

-------------------------------------------------------------------------------
Copyright 2003, Wells Fargo Bank Minnesota, N.A.                   Page 10 of 18

<PAGE>

[WELLS FARGO LOGO OMITTED]

WELLS FARGO BANK MINNESOTA, N.A.
CORPORATE TRUST SERVICES
9062 OLD ANNAPOLIS ROAD
COLUMBIA, MD 21045-1951

              CREDIT SUISSE FIRST BOSTON MORTGAGE SECURITIES CORP.
                 COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES
                                 SERIES 2003-C4

-----------------------------------------
For Additional Information please contact
         CTSLink Customer Service
              (301) 815-6600
  Reports Available on the World Wide Web
          @ www.ctslink.com/cmbs
-----------------------------------------

Payment Date:   10/17/2003
Record Date:    09/30/2003

--------------------------------------------------------------------------------
                              MORTGAGE LOAN DETAIL

<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------------------
                                                                                  Anticipated              Neg.
 Loan              Property                      Interest    Principal   Gross     Repayment   Maturity   Amort
Number    ODCR     Type (1)    City     State     Payment     Payment    Coupon       Date       Date     (Y/N)
----------------------------------------------------------------------------------------------------------------
<S>       <C>      <C>         <C>      <C>      <C>         <C>         <C>      <C>          <C>        <C>

----------------------------------------------------------------------------------------------------------------
Totals
----------------------------------------------------------------------------------------------------------------

<CAPTION>
---------------------------------------------------------------------------------------
           Beginning     Ending       Paid     Appraisal    Appraisal     Res.    Mod.
 Loan      Scheduled    Scheduled     Thru     Reduction    Reduction    Strat.   Code
Number      Balance      Balance      Date        Date        Amount      (2)      (3)
---------------------------------------------------------------------------------------
<S>        <C>          <C>           <C>      <C>          <C>          <C>      <C>

---------------------------------------------------------------------------------------
Totals
---------------------------------------------------------------------------------------
</TABLE>

                   (1) Property Type Code
                   ----------------------

MF  -  Multi-Family                     OF  -  Office
RT  -  Retail                           MU  -  Mixed Use
HC  -  Health Care                      LO  -  Lodging
IN  -  Industrial                       SS  -  Self Storage
WH  -  Warehouse                        OT  -  Other
MH  -  Mobile Home Park

                          (2) Resolution Strategy Code
                          ----------------------------

1 - Modification         6 - DPO                    10 - Deed In Lieu Of
2 - Foreclosure          7 - REO                         Foreclosure
3 - Bankruptcy           8 - Resolved               11 - Full Payoff
4 - Extension            9 - Pending Return         12 - Reps and Warranties
5 - Note Sale                to Master Servicer     13 - Other or TBD

                              (3) Modification Code
                              ---------------------

                            1 - Maturity Date Extension
                            2 - Authorization Change
                            3 - Principal Write-Off
                            4 - Combination

--------------------------------------------------------------------------------
Copyright 2003, Wells Fargo Bank Minnesota, N.A.                  Page 11 of 18

<PAGE>

[WELLS FARGO LOGO OMITTED]

WELLS FARGO BANK MINNESOTA, N.A.
CORPORATE TRUST SERVICES
9062 OLD ANNAPOLIS ROAD
COLUMBIA, MD 21045-1951

              CREDIT SUISSE FIRST BOSTON MORTGAGE SECURITIES CORP.
                 COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES
                                 SERIES 2003-C4

-----------------------------------------
For Additional Information please contact
         CTSLink Customer Service
              (301) 815-6600
  Reports Available on the World Wide Web
          @ www.ctslink.com/cmbs
-----------------------------------------

Payment Date:   10/17/2003
Record Date:    09/30/2003

--------------------------------------------------------------------------------

                          PRINCIPAL PREPAYMENT DETAIL
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------------
                                         Principal Prepayment Amount                        Prepayment Premium
                Offering Document    -------------------------------------   ------------------------------------------------
Loan Number      Cross-Reference     Payoff Amount     Curtailment Amount     Prepayment Premium     Yield Maintenance Charge
-----------------------------------------------------------------------------------------------------------------------------
<S>             <C>                  <C>               <C>                    <C>                    <C>

-----------------------------------------------------------------------------------------------------------------------------
  Totals
-----------------------------------------------------------------------------------------------------------------------------
</TABLE>

Copyright 2003, Wells Fargo Bank Minnesota, N.A.                 Page 12 of 18

<PAGE>

[WELLS FARGO LOGO OMITTED]

WELLS FARGO BANK MINNESOTA, N.A.
CORPORATE TRUST SERVICES
9062 OLD ANNAPOLIS ROAD
COLUMBIA, MD 21045-1951

              CREDIT SUISSE FIRST BOSTON MORTGAGE SECURITIES CORP.
                 COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES
                                 SERIES 2003-C4

-----------------------------------------
For Additional Information please contact
         CTSLink Customer Service
              (301) 815-6600
  Reports Available on the World Wide Web
          @ www.ctslink.com/cmbs
-----------------------------------------

Payment Date:   10/17/2003
Record Date:    09/30/2003

--------------------------------------------------------------------------------

                               HISTORICAL DETAIL

<TABLE>
<CAPTION>

-----------------------------------------------------------------------------------------------------------------------------------
                                                             Delinquencies
-----------------------------------------------------------------------------------------------------------------------------------
Distribution        30-59 Days       60-89 Days      90 Days or More       Foreclosure            REO             Modifications
  Date              #   Balance      #   Balance       #   Balance         #   Balance         #   Balance         #   Balance
-----------------------------------------------------------------------------------------------------------------------------------
<S>                 <C>              <C>             <C>                   <C>                 <C>                <C>

-----------------------------------------------------------------------------------------------------------------------------------

<CAPTION>

                             Prepayments                    Rate and Maturities
---------------   -------------------------------   --------------------------------
Distribution        Curtailments        Payoff       Next Weighted Avg.
  Date              #    Amount       #   Amount      Coupon      Remit          WAM
------------------------------------------------------------------------------------
<S>                 <C>              <C>             <C>         <C>            <C>

-----------------------------------------------------------------------------------
</TABLE>

Note: Foreclosure and REO Totals are excluded from the delinquencies aging
categories.

--------------------------------------------------------------------------------
Copyright 2003, Wells Fargo Bank Minnesota, N.A.              Page 13 of 18

<PAGE>
[WELLS FARGO LOGO OMITTED]

WELLS FARGO BANK MINNESOTA, N.A.
CORPORATE TRUST SERVICES
9062 OLD ANNAPOLIS ROAD
COLUMBIA, MD 21045-1951

              CREDIT SUISSE FIRST BOSTON MORTGAGE SECURITIES CORP.
                 COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES
                                 SERIES 2003-C4

-----------------------------------------
For Additional Information please contact
         CTSLink Customer Service
              (301) 815-6600
  Reports Available on the World Wide Web
          @ www.ctslink.com/cmbs
-----------------------------------------

Payment Date:   10/17/2003
Record Date:    09/30/2003

--------------------------------------------------------------------------------

                            DELINQUENCY LOAN DETAIL

<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------------------------------------------------
                   Offering        # of                     Current     Outstanding   Status of    Resolution
                   Document       Months    Paid Through      P&I           P&I        Mortgage     Strategy       Servicing
Loan Number    Cross-Reference    Delinq.       Date        Advances     Advances**    Loan (1)     Code (2)     Transfer Date
----------------------------------------------------------------------------------------------------------------------------------
<S>            <C>                <C>       <C>             <C>         <C>           <C>          <C>           <C>

----------------------------------------------------------------------------------------------------------------------------------
  Totals
----------------------------------------------------------------------------------------------------------------------------------

<CAPTION>
----------------------------------------------------------------------------------
                             Actual       Outstanding
             Foreclosure   Principal       Servicing    Bankruptcy    REO
Loan Number     Date        Balance        Advances        Date       Date
----------------------------------------------------------------------------------
<S>          <C>            <C>           <C>           <C>           <C>

----------------------------------------------------------------------------------
  Totals
----------------------------------------------------------------------------------
</TABLE>

                          (1) Status of Mortgage Loan
                          ---------------------------

A  -  Payment Not Received                2  -  Two Months Delinquent
      But Still in Grace Period           3  -  Three or More Months Delinquent
B  -  Late Payment But Less               4  -  Assumed Scheduled Payment
      Than 1 Month Delinquent                   (Performing Matured Baloon)
0  -  Current                             7  -  Foreclosure
1  -  One Month Delinquent                9  -  REO

                          (2) Resolution Strategy Code
                          ----------------------------

1 - Modification         6 - DPO                   10 - Deed In Lieu Of
2 - Foreclosure          7 - REO                        Foreclosure
3 - Bankruptcy           8 - Resolved              11 - Full Payoff
4 - Extension            9 - Pending Return        12 - Reps and Warranties
5 - Note Sale                to Master Servicer    13 - Other or TBD

** Outstanding P&I Advances include the current period advance.

--------------------------------------------------------------------------------
Copyright 2003, Wells Fargo Bank Minnesota, N.A.              Page 14 of 18

<PAGE>
[WELLS FARGO LOGO OMITTED]

WELLS FARGO BANK MINNESOTA, N.A.
CORPORATE TRUST SERVICES
9062 OLD ANNAPOLIS ROAD
COLUMBIA, MD 21045-1951

              CREDIT SUISSE FIRST BOSTON MORTGAGE SECURITIES CORP.
                 COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES
                                 SERIES 2003-C4

-----------------------------------------
For Additional Information please contact
         CTSLink Customer Service
              (301) 815-6600
  Reports Available on the World Wide Web
          @ www.ctslink.com/cmbs
-----------------------------------------

Payment Date:   10/17/2003
Record Date:    09/30/2003

--------------------------------------------------------------------------------

                     SPECIALLY SERVICED LOAN DETAIL - PART 1
<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------------------------------
           Offering     Servicing  Resolution                                                        Net
 Loan      Document      Transfer   Strategy     Scheduled   Property          Interest  Actual   Operating
Number  Cross-Reference    Date      Code (1)     Balance    Type (2)   State    Rate    Balance   Income
--------------------------------------------------------------------------------------------------------------
<S>     <C>             <C>        <C>           <C>         <C>        <C>    <C>       <C>      <C>

--------------------------------------------------------------------------------------------------------------

<CAPTION>
--------------------------------------------------------------------
                                                         Remaining
 Loan         DSCR                 Note     Maturity   Amortization
Number        Date       DSCR      Date       Date         Term
--------------------------------------------------------------------
<S>          <C>         <C>       <C>       <C>      <C>

--------------------------------------------------------------------
</TABLE>

                          (1) Resolution Strategy Code
                          ----------------------------

1 - Modification         6 - DPO                  10 - Deed In Lieu Of
2 - Foreclosure          7 - REO                       Foreclosure
3 - Bankruptcy           8 - Resolved             11 - Full Payoff
4 - Extension            9 - Pending Return       12 - Reps and Warranties
5 - Note Sale                to Master Servicer   13 - Other or TBD

              (2) Property Type Code
              ----------------------

MF - Multi-Family             OF - Office
RT - Retail                   MU - Mixed use
HC - Health Care              LO - Lodging
IN - Industrial               SS - Self Storage
WH - Warehouse                OT - Other
MH - Mobile Home Park
--------------------------------------------------------------------------------
Copyright 2003, Wells Fargo Bank Minnesota, N.A.              Page 15 of 18

<PAGE>

[WELLS FARGO LOGO OMITTED]

WELLS FARGO BANK MINNESOTA, N.A.
CORPORATE TRUST SERVICES
9062 OLD ANNAPOLIS ROAD
COLUMBIA, MD 21045-1951

              CREDIT SUISSE FIRST BOSTON MORTGAGE SECURITIES CORP.
                 COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES
                                 SERIES 2003-C4

 -----------------------------------------
 For Additional Information please contact
          CTSLink Customer Service
               (301) 815-6600
   Reports Available on the World Wide Web
           @ www.ctslink.com/cmbs
 -----------------------------------------

Payment Date:   10/17/2003
Record Date:    09/30/2003

-------------------------------------------------------------------------------

                    SPECIALLY SERVICED LOAN DETAIL - PART 2

<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------------------------
            Offering        Resolution      Site
 Loan        Document        Strategy    Inspection                 Appraisal  Appraisal      Other REO
Number   Cross-Reference     Code (1)       Date     Phase 1 Date      Date      Value     Property Revenue  Comment
---------------------------------------------------------------------------------------------------------------------
<S>      <C>                <C>          <C>         <C>            <C>        <C>         <C>               <C>

---------------------------------------------------------------------------------------------------------------------
</TABLE>

                          (1) Resolution Strategy Code
                          ----------------------------

1 - Modification         6 - DPO                    10 - Deed In Lieu Of
2 - Foreclosure          7 - REO                         Foreclosure
3 - Bankruptcy           8 - Resolved               11 - Full Payoff
4 - Extension            9 - Pending Return         12 - Reps and Warranties
5 - Note Sale                to Master Servicer     13 - Other or TBD

--------------------------------------------------------------------------------
Copyright 2003, Wells Fargo Bank Minnesota, N.A.                 Page 16 of 18

<PAGE>
[WELLS FARGO LOGO OMITTED]

WELLS FARGO BANK MINNESOTA, N.A.
CORPORATE TRUST SERVICES
9062 OLD ANNAPOLIS ROAD
COLUMBIA, MD 21045-1951

              CREDIT SUISSE FIRST BOSTON MORTGAGE SECURITIES CORP.
                 COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES
                                 SERIES 2003-C4

-----------------------------------------
For Additional Information please contact
         CTSLink Customer Service
              (301) 815-6600
  Reports Available on the World Wide Web
          @ www.ctslink.com/cmbs
-----------------------------------------

Payment Date:   10/17/2003
Record Date:    09/30/2003

-------------------------------------------------------------------------------

                              MODIFIED LOAN DETAIL

<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------------------
                   Offering
 Loan              Document      Pre-Modification
Number         Cross-Reference        Balance           Modification Date                       Modification Description
------------------------------------------------------------------------------------------------------------------------------------
<S>            <C>               <C>                    <C>                                     <C>

------------------------------------------------------------------------------------------------------------------------------------
Totals
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>

--------------------------------------------------------------------------------
Copyright 2003, Wells Fargo Bank Minnesota, N.A.                 Page 17 of 18

<PAGE>
[WELLS FARGO LOGO OMITTED]

WELLS FARGO BANK MINNESOTA, N.A.
CORPORATE TRUST SERVICES
9062 OLD ANNAPOLIS ROAD
COLUMBIA, MD 21045-1951

              CREDIT SUISSE FIRST BOSTON MORTGAGE SECURITIES CORP.
                 COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES
                                 SERIES 2003-C4

-----------------------------------------
For Additional Information please contact
         CTSLink Customer Service
              (301) 815-6600
  Reports Available on the World Wide Web
          @ www.ctslink.com/cmbs
-----------------------------------------

Payment Date:   10/17/2003
Record Date:    09/30/2003

                             LIQUIDATED LOAN DETAIL

<TABLE>
<CAPTION>
-------------------------------------------------------------------------------------------------
       Final Recovery     Offering                                               Gross Proceeds
 Loan  Determination      Document      Appraisal  Appraisal  Actual    Gross       as a % of
Number     Date       Cross-Reference     Date      Value    Balance  Proceeds   Actual Balance
-------------------------------------------------------------------------------------------------
<S>    <C>            <C>              <C>        <C>        <C>      <C>        <C>

-------------------------------------------------------------------------------------------------
  Current Total
-------------------------------------------------------------------------------------------------
Cumulative Total
-------------------------------------------------------------------------------------------------

<CAPTION>
---------------------------------------------------------------------------
          Aggregate        Net        Net Proceeds              Repurchased
 Loan    Liquidation   Liquidation     as a % of      Realized   by Seller
Number     Expenses*     Proceeds    Actual Balance     Loss      (Y/N)
---------------------------------------------------------------------------
<S>      <C>          <C>            <C>              <C>       <C>

----------------------------------------------------------------------------
  Current Total
----------------------------------------------------------------------------
Cumulative Total
----------------------------------------------------------------------------
</TABLE>

* Aggregate liquidation expenses also include outstanding P & I advances and
unpaid fees (servicing, trustee, etc.).

--------------------------------------------------------------------------------
Copyright 2003, Wells Fargo Bank Minnesota, N.A.                 Page 18 of 18

<PAGE>

                                  EXHIBIT F-1A

                        FORM I OF TRANSFEROR CERTIFICATE
                  FOR TRANSFERS OF NON-REGISTERED CERTIFICATES

                                     [Date]

Wells Fargo Bank Minnesota, N.A.
Wells Fargo Center
Sixth and Marquette
MAC # N9303-121
Minneapolis, Minnesota  55479-0113
Attention:  Corporate Trust Services (CMBS)

[OR OTHER CERTIFICATE REGISTRAR]

          Re:  Credit Suisse First Boston Mortgage Securities Corp., Commercial
               Mortgage Pass-Through Certificates, Series 2003-C4, Class ______
               Certificates [having an initial aggregate Certificate [Principal
               Balance] [Notional Amount] as of September 29, 2003 (the
               "Closing Date") of $__________] [evidencing a ____% Percentage
               Interest in the related Class] (the "Transferred Certificates")
               ----------------------------------------------------------------

Dear Sirs:

          This letter is delivered to you in connection with the transfer by
_________________ (the "Transferor") to _________________ (the "Transferee")
of the Transferred Certificates pursuant to Section 5.02 of the Pooling and
Servicing Agreement dated as of September 11, 2003 (the "Pooling and Servicing
Agreement"), among Credit Suisse First Boston Mortgage Securities Corp., as
depositor, KeyCorp Real Estate Capital Markets, Inc., as master servicer (in
such capacity, the "Master Servicer"), Lennar Partners, Inc., as special
servicer (in such capacity, the "Special Servicer"), and Wells Fargo Bank
Minnesota, N.A., as trustee (in such capacity, the "Trustee"). All capitalized
terms used herein and not otherwise defined 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. 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 a 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 a 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 a Transferred Certificate or any
other similar security with any person in any manner, (d) made any general
solicitation with respect to

                                    F-1A-1

<PAGE>

any Transferred Certificate, any interest in a Transferred Certificate or any
other similar security 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 a Transferred Certificate or any other similar security, which (in
the case of any of the acts described in clauses (a) through (e) hereof) would
constitute a distribution of the Transferred Certificates under the Securities
Act of 1933, as amended (the "Securities Act"), or would render the
disposition of the Transferred Certificates a violation of Section 5 of the
Securities Act or any state securities laws, or would require registration or
qualification of the Transferred Certificates pursuant to the Securities Act
or any state securities laws.

          3. The Transferor and any person acting on behalf of the Transferor
in this matter reasonably believe that the Transferee is a "qualified
institutional buyer" as that term is defined in Rule 144A ("Rule 144A") under
the Securities Act (a "Qualified Institutional Buyer") purchasing for its own
account or for the account of another person that is itself a Qualified
Institutional Buyer. In determining whether the Transferee is a Qualified
Institutional Buyer, the Transferor and any person acting on behalf of the
Transferor in this matter has relied upon the following method(s) of
establishing the Transferee's ownership and discretionary investments of
securities (check one or more):

     ___    (a) The Transferee's most recent publicly available financial
            statements, which statements present the information as of a date
            within 16 months preceding the date of sale of the Transferred
            Certificates in the case of a U.S. purchaser and within 18 months
            preceding such date of sale in the case of a foreign purchaser; or

     ___    (b) The most recent publicly available information appearing in
            documents filed by the Transferee with the Securities and Exchange
            Commission or another United States federal, state, or local
            governmental agency or self-regulatory organization, or with a
            foreign governmental agency or self-regulatory organization, which
            information is as of a date within 16 months preceding the date of
            sale of the Transferred Certificates in the case of a U.S.
            purchaser and within 18 months preceding such date of sale in the
            case of a foreign purchaser; or

     ___    (c) The most recent publicly available information appearing in a
            recognized securities manual, which information is as of a date
            within 16 months preceding the date of sale of the Transferred
            Certificates in the case of a U.S. purchaser and within 18 months
            preceding such date of sale in the case of a foreign purchaser; or

     ___    (d) A certification by the chief financial officer, a person
            fulfilling an equivalent function, or other executive officer of
            the Transferee, specifying the amount of securities owned and
            invested on a discretionary basis by the Transferee as of a
            specific date on or since the close of the Transferee's most
            recent fiscal year, or, in the case of a Transferee that is a
            member of a "family of investment companies", as that term is
            defined in Rule 144A, a certification by an executive officer of
            the investment adviser specifying the amount of securities owned
            by the "family of investment companies" as of a specific date on
            or since the close of the Transferee's most recent fiscal year.

     ___    (e) Other. (Please specify brief description of method) __________
                ______________________________________________________________
                ______________________________________________________________

                                    F-1A-2

<PAGE>

          4. The Transferor and any person acting on behalf of the Transferor
understand that in determining the aggregate amount of securities owned and
invested on a discretionary basis by an entity for purposes of establishing
whether such entity is a Qualified Institutional Buyer:

          (a) the following instruments and interests shall be excluded:
     securities of issuers that are affiliated with such entity; securities
     that are part of an unsold allotment to or subscription by such entity,
     if such entity is a dealer; securities of issuers that are part of such
     entity's "family of investment companies", if such entity is a registered
     investment company; bank deposit notes and certificates of deposit; loan
     participations; repurchase agreements; securities owned but subject to a
     repurchase agreement; and currency, interest rate and commodity swaps;

          (b) the aggregate value of the securities shall be the cost of such
     securities, except where the entity 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 may be valued at market; and

          (c) securities owned by subsidiaries of the entity that are
     consolidated with the entity in its financial statements prepared in
     accordance with generally accepted accounting principles may be included
     if the investments of such subsidiaries are managed under the direction
     of the entity, except that, unless the entity is a reporting company
     under Section 13 or 15(d) of the Securities Exchange Act of 1934, as
     amended, securities owned by such subsidiaries may not be included if the
     entity itself is a majority-owned subsidiary that would be included in
     the consolidated financial statements of another enterprise.

          5. The Transferor or a person acting on its behalf has taken
reasonable steps to ensure that the Transferee is aware that the Transferor is
relying on the exemption from the provisions of Section 5 of the Securities
Act provided by Rule 144A.

          6. The Transferor or a person acting on its behalf has furnished, or
caused to be furnished, to the Transferee 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, and (e) all related matters, that the Transferee has
requested.

                                   Very truly yours,

                                   --------------------------------------------
                                   (Transferor)

                                   By:
                                        ---------------------------------------
                                   Name:
                                          -------------------------------------
                                   Title:
                                           ------------------------------------

                                    F-1A-3

<PAGE>

                                  EXHIBIT F-1B

                       FORM II OF TRANSFEROR CERTIFICATE
                  FOR TRANSFERS OF NON-REGISTERED CERTIFICATES

                                     [Date]

Wells Fargo Bank Minnesota, N.A.
Wells Fargo Center
Sixth and Marquette
MAC # N9303-121
Minneapolis, Minnesota  55479-0113
Attention:  Corporate Trust Services (CMBS)

[OR OTHER CERTIFICATE REGISTRAR]

          Re:  Credit Suisse First Boston Mortgage Securities Corp., Commercial
               Mortgage Pass-Through Certificates, Series 2003-C4, Class ______
               Certificates [having an initial aggregate Certificate [Principal
               Balance] [Notional Amount] as of September 29, 2003 (the
               "Closing Date") of $__________] [evidencing a ____% Percentage
               Interest in the related Class] (the "Transferred Certificates")
               ----------------------------------------------------------------

Dear Sirs:

          This letter is delivered to you in connection with the transfer by
_________________ (the "Transferor") to _________________ (the "Transferee")
of the Transferred Certificates pursuant to Section 5.02 of the Pooling and
Servicing Agreement dated as of September 11, 2003 (the "Pooling and Servicing
Agreement"), among Credit Suisse First Boston Mortgage Securities Corp., as
depositor, KeyCorp Real Estate Capital Markets, Inc., as master servicer (in
such capacity, the "Master Servicer"), Lennar Partners, Inc., as special
servicer (in such capacity, the "Special Servicer"), and Wells Fargo Bank
Minnesota, N.A., as trustee (in such capacity, the "Trustee"). All capitalized
terms used herein and not otherwise defined 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, and for
the benefit of the Depositor and the Trustee, 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 a 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 a Transferred Certificate or any
     other similar security from any person in any

                                    F-1B-1

<PAGE>

     manner, (c) otherwise approached or negotiated with respect to any
     Transferred Certificate, any interest in a Transferred Certificate or any
     other similar security with any person in any manner, (d) made any
     general solicitation with respect to any Transferred Certificate, any
     interest in a Transferred Certificate or any other similar security 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
     a Transferred Certificate or any other similar security, which (in the
     case of any of the acts described in clauses (a) through (e) hereof)
     would constitute a distribution of the Transferred Certificates under the
     Securities Act of 1933, as amended (the "Securities Act"), would render
     the disposition of the Transferred Certificates a violation of Section 5
     of the Securities Act or any state securities laws, or would require
     registration or qualification of the Transferred Certificates pursuant to
     the Securities Act or any state securities laws.

                                   Very truly yours,

                                   --------------------------------------------
                                   (Transferor)

                                   By:
                                        ---------------------------------------
                                   Name:
                                          -------------------------------------
                                   Title:
                                           ------------------------------------

                                    F-1B-2

<PAGE>

                                  EXHIBIT F-1C

                        FORM I OF TRANSFEROR CERTIFICATE
             FOR TRANSFERS OF INTERESTS IN GLOBAL CERTIFICATES FOR
                    CLASSES OF NON-REGISTERED CERTIFICATES

                                     [Date]

Wells Fargo Bank Minnesota, N.A.
Wells Fargo Center
Sixth and Marquette
MAC # N9303-121
Minneapolis, Minnesota  55479-0113
Attention:  Corporate Trust Services (CMBS)

[OR OTHER CERTIFICATE REGISTRAR]

          Re:  Credit Suisse First Boston Mortgage Securities Corp., Commercial
               Mortgage Pass-Through Certificates, Series 2003-C4, Class ____,
               having an initial aggregate [Certificate Principal Balance]
               [Certificate Notional  Amount] as of September 29, 2003 (the
               "Issue  Date") of  $__________  (the  "Transferred Certificates")

Ladies and Gentlemen:

          This letter is delivered to you in connection with the Transfer by
______________________ (the "Transferor") to ______________________ (the
"Transferee") through our respective Depository Participants of the
Transferor's beneficial ownership interest (currently maintained on the books
and records of The Depository Trust Company ("DTC") and the Depository
Participants) in the Transferred Certificates. The Certificates, including the
Transferred Certificates, were issued pursuant to the Pooling and Servicing
Agreement dated as of September 11, 2003 (the "Pooling and Servicing
Agreement"), among Credit Suisse First Boston Mortgage Securities Corp., as
depositor, KeyCorp Real Estate Capital Markets, Inc., as master servicer (in
such capacity, the "Master Servicer"), Lennar Partners, Inc., as special
servicer (in such capacity, the "Special Servicer"), and Wells Fargo Bank
Minnesota, N.A., as trustee (in such capacity, the "Trustee"). 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 and agrees with you, as Certificate
Registrar, and for the benefit of the Depositor and the Trustee, 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 a 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 a Transferred

                                    F-1C-1

<PAGE>

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 a Transferred Certificate or any other similar
security with any person in any manner, (d) made any general solicitation with
respect to any Transferred Certificate, any interest in a Transferred
Certificate or any other similar security 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 a Transferred Certificate or any
other similar security, which (in the case of any of the acts described in
clauses (a) through (e) hereof) would constitute a distribution of the
Transferred Certificates under the Securities Act of 1933, as amended (the
"Securities Act"), would render the disposition of the Transferred
Certificates a violation of Section 5 of the Securities Act or any state
securities laws, or would require registration or qualification of the
Transferred Certificates pursuant to the Securities Act or any state
securities laws.

                                      Very truly yours,

                                      -----------------------------------------
                                      (Transferor)

                                      By:
                                           ------------------------------------
                                           Name:
                                                  -----------------------------

                                    F-1C-2

<PAGE>

                                  EXHIBIT F-1D

                       FORM II OF TRANSFEROR CERTIFICATE
     FOR TRANSFERS OF INTERESTS IN GLOBAL CERTIFICATES FOR CLASSES OF NON-
                           REGISTERED CERTIFICATES

                                     [Date]

Wells Fargo Bank Minnesota, N.A.
Wells Fargo Center
Sixth and Marquette
MAC #N9303-121
Minneapolis, Minnesota  55479-0113
Attention:  Corporate Trust Services (CMBS)

          Re:  Credit Suisse First Boston Mortgage Securities Corp., Commercial
               Mortgage Pass-Through Certificates, Series 2003-C4, Class ____,
               having an initial aggregate [Certificate Principal Balance]
               [Certificate Notional  Amount] as of September 29, 2003 (the
               "Issue  Date") of  $__________  (the  "Transferred Certificates")

Ladies and Gentlemen:

          This letter is delivered to you in connection with the Transfer by
______________________ (the "Transferor") to ______________________ (the
"Transferee") through our respective Depository Participants of the
Transferor's beneficial ownership interest (currently maintained on the books
and records of The Depository Trust Company ("DTC") and the Depository
Participants) in the Transferred Certificates. The Certificates, including the
Transferred Certificates, were issued pursuant to the Pooling and Servicing
Agreement dated as of September 11, 2003 (the "Pooling and Servicing
Agreement"), among Credit Suisse First Boston Mortgage Securities Corp., as
depositor, KeyCorp Real Estate Capital Markets, Inc., as master servicer (in
such capacity, the "Master Servicer"), Lennar Partners, Inc., as special
servicer (in such capacity, the "Special Servicer"), and Wells Fargo Bank
Minnesota, N.A., as trustee (in such capacity, the "Trustee"). 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 and agrees with you, as Certificate
Registrar, and for the benefit of the Depositor and the Trustee, 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. At the time the buy order was originated, the Transferor
reasonably believed that the Transferee was outside the United States, its
territories and possessions.

          3. If the Transferor is a distributor (within the meaning of Rule
902(d) under the Securities Act of 1933, as amended (the "Securities Act"))
with respect to the Transferred Certificates,

                                    F-1D-1

<PAGE>

or an affiliate of such a distributor or of the Depositor, or a person acting
on behalf of such a distributor, the Depositor or any affiliate of such
distributor or of the Depositor, then:

               (a) the sale of the Transferred Certificates by the Transferor
     to the Transferee will be executed in, on or through a physical trading
     floor of an established foreign securities exchange that is located
     outside the United States, its territories and possessions;

               (b) no directed selling efforts (within the meaning of Rule
     902(c) under the Securities Act) have been made in the United States, its
     territories and possessions, with respect to the Transferred Certificates
     by the Transferor, any of its affiliates, or any person acting on behalf
     of any of the foregoing;

               (c) all offers and sales, if any, of the Transferred
     Certificates by or on behalf of the Transferor prior to the expiration of
     the distribution compliance period specified in category 2 or 3
     (paragraph (b)(2) or (b)(3)) in Rule 903 under the Securities Act, as
     applicable, have been and will be made only in accordance with the
     provisions of Rule 903 or Rule 904 under the Securities Act, pursuant to
     registration of the Transferred Certificates under the Securities Act, or
     pursuant to an available exemption from the registration requirements of
     the Securities Act;

               (d) all offering materials and documents (other than press
     releases), if any, used in connection with offers and sales of the
     Transferred Certificates by or on behalf of the Transferor prior to the
     expiration of the distribution compliance period specified in category 2
     or 3 (paragraph (b)(2) or (b)(3)) in Rule 903 under the Securities Act,
     as applicable, complied with the requirements of Rule 902(g)(2) under the
     Securities Act; and

               (e) if the Transferee is a distributor, a dealer or a person
     receiving a selling concession, a fee or other remuneration and the offer
     or sale of the Transferred Certificates thereto occurs prior to the
     expiration of the applicable 40-day distribution compliance period, the
     Transferor has sent a confirmation or other notice to the Transferee that
     the Transferee is subject to the same restrictions on offers and sales
     that apply to a distributor.

          4. If the Transferor is not a distributor with respect to the
Transferred Certificates or an affiliate of such a distributor or of the
Depositor or acting on behalf of such a distributor, the Depositor or any
affiliate of such a distributor or of the Depositor, then:

               (a) the sale of the Transferred Certificates by the Transferor
     to the Transferee will be executed in, on or through the facilities of a
     designated offshore securities market described in paragraph (b) of Rule
     902 under the Securities Act, and neither the Transferor nor anyone
     acting on its behalf knows that such transaction has been prearranged
     with a buyer in the United States, its territories and possessions;

               (b) no directed selling efforts (within the meaning of Rule
     902(c) under the Securities Act) have been made in the United States, its
     territories and possessions, with respect to the Transferred Certificates
     by the Transferor, any of its affiliates, or any person acting on behalf
     of any of the foregoing;

                                    F-1D-2

<PAGE>

               (c) if the Transferee is a dealer or a person receiving a
     selling concession, a fee or other remuneration and the offer or sale of
     the Transferred Certificates thereto occurs prior to the expiration of
     the applicable 40-day distribution compliance period, the Transferor has
     sent a confirmation or other notice to the Transferee stating that the
     Transferred Certificates may be offered and sold during the distribution
     compliance period only in accordance with the provisions of Regulation S
     under the Securities Act, pursuant to registration of the Transferred
     Certificates under the Securities Act or pursuant to an available
     exemption from the registration requirements of the Securities Act.

                                   Very truly yours,

                                   --------------------------------------------
                                   (Transferor)

                                   By:
                                        ---------------------------------------
                                           Name:
                                                  -----------------------------
                                           Title:
                                                   ----------------------------

                                    F-1D-3

<PAGE>

                                  EXHIBIT F-2A

               FORM I OF TRANSFEREE CERTIFICATE FOR TRANSFERS OF
               NON-REGISTERED CERTIFICATES HELD IN PHYSICAL FORM

                                     [Date]

Wells Fargo Bank Minnesota, N.A.
Wells Fargo Center
Sixth and Marquette
MAC # N9303-121
Minneapolis, Minnesota  55479-0113
Attention: Corporate Trust Services (CMBS)

[OR OTHER CERTIFICATE REGISTRAR]

          Re:  Credit Suisse First Boston Mortgage Securities Corp., Commercial
               Mortgage Pass-Through Certificates, Series 2003-C4, Class ______
               Certificates [having an initial aggregate Certificate [Principal
               Balance] [Notional Amount] as of September 29, 2003 (the
               "Closing Date") of $__________] [evidencing a ____% Percentage
               Interest in the related Class] (the "Transferred Certificates")

Dear Sirs:

          This letter is delivered to you in connection with the transfer by
_________________ (the "Transferor") to _________________ (the "Transferee")
of the Transferred Certificates pursuant to Section 5.02 of the Pooling and
Servicing Agreement dated as of September 11, 2003 (the "Pooling and Servicing
Agreement"), among Credit Suisse First Boston Mortgage Securities Corp., as
depositor, KeyCorp Real Estate Capital Markets, Inc., as master servicer (in
such capacity, the "Master Servicer"), Lennar Partners, Inc., as special
servicer (in such capacity, the "Special Servicer"), and Wells Fargo Bank
Minnesota, N.A., as trustee (in such capacity, the "Trustee"). All capitalized
terms used herein and not otherwise defined 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, and for
the benefit of the Depositor and the Trustee, 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 is being made
in reliance on Rule 144A. The Transferee is acquiring the Transferred
Certificates for its own account or for the account of another Qualified
Institutional Buyer, and understands that such Transferred Certificates may be
resold, pledged or transferred only (a) to a person reasonably believed to be
a Qualified

                                    F-2A-1

<PAGE>

Institutional Buyer that purchases for its own account or for the account of
another Qualified Institutional Buyer and to whom notice is given that the
resale, pledge or transfer is being made in reliance on Rule 144A, or (b)
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 and the Trust Fund created pursuant thereto,
and (e) all related matters, that it has requested.

          3. If the Transferee proposes that the Transferred Certificates be
registered in the name of a nominee, such nominee has completed the Nominee
Acknowledgment below.

                                    Very truly yours,

                                    -------------------------------------------
                                    (Transferee)

                                    By:
                                         --------------------------------------
                                    Name:
                                           ------------------------------------
                                    Title:
                                            -----------------------------------

                             Nominee Acknowledgment
                             ----------------------

          The undersigned hereby acknowledges and agrees that as to the
Transferred Certificates being registered in its name, the sole beneficial
owner thereof is and shall be the Transferee identified above, for whom the
undersigned is acting as nominee.

                                    -------------------------------------------
                                    (Nominee)

                                    By:
                                         --------------------------------------
                                    Name:
                                           ------------------------------------
                                    Title:
                                            -----------------------------------

                                    F-2A-2

<PAGE>

                                                       ANNEX 1 TO EXHIBIT F-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 mortgage pass-through certificates 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").

          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 [each of the Transferee's equity owners]
owned and/or invested on a discretionary basis $______________________1 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.

     ___    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
            Transferred Certificates in the case of a U.S. bank, and not more
            than 18 months preceding such date of sale in the case of 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
            Transferred Certificates in the case of a U.S. savings and loan
            association, and not more than 18 months preceding such date of
            sale in the case of a foreign savings and loan association or
            equivalent institution.

------------------
1    Transferee or each of its equity owners must own and/or invest on a
     discretionary basis at least $100,000,000 in securities unless Transferee
     or any such equity owner, as the case may be, is a dealer, and, in that
     case, Transferee or such equity owner, as the case may be, must own
     and/or invest on a discretionary basis at least $10,000,000 in
     securities.

                                    F-2A-3

<PAGE>

     ___    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.

     ___    Investment Advisor. The Transferee is an investment advisor
            registered under the Investment Advisers Act of 1940, as amended.

     ___    QIB Subsidiary. All of the Transferee's equity owners are
            "qualified institutional buyers" within the meaning of Rule 144A.

     ___    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. For purposes of determining the aggregate amount of securities
owned and/or invested on a discretionary basis by any Person, the Transferee
did not include (i) securities of issuers that are affiliated with such
Person, (ii) securities that are part of an unsold allotment to or
subscription by such Person, if such Person 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.

          4. For purposes of determining the aggregate amount of securities
owned and/or invested on a discretionary basis by any Person, the Transferee
used the cost of such securities to such Person, unless such Person 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 such Person, but only if such
subsidiaries are consolidated with such Person in its financial statements
prepared in accordance with generally accepted accounting principles and if
the investments of such subsidiaries are managed under

                                    F-2A-4

<PAGE>

such Person's direction. However, such securities were not included if such
Person is a majority-owned, consolidated subsidiary of another enterprise and
such Person is not itself a reporting company under the Securities Exchange
Act of 1934, as amended.

          5. The Transferee is familiar with Rule 144A and understands that
the Transferor and other parties related to the Transferred Certificates 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
          Yes   No    Certificates 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 Certificates 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.

          8. Capitalized terms used but not defined herein have the respective
meanings ascribed thereto in the Pooling and Servicing Agreement pursuant to
which the Transferred Certificates were issued.

                            --------------------------------------------
                            Print Name of Transferee

                            By:
                                 ---------------------------------------
                            Name:
                                   -------------------------------------
                            Title:
                                    ------------------------------------
                            Date:
                                   -------------------------------------

                                    F-2A-5

<PAGE>

                                                       ANNEX 2 TO EXHIBIT F-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 certificates (the
"Transferred Certificates") 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, 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).

                                    F-2A-6

<PAGE>

          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 Transferor and other parties related to the Transferred Certificates 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
          Yes   No   Certificates 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.

          8. Capitalized terms used but not defined herein have the respective
meanings ascribed thereto in the Pooling and Servicing Agreement pursuant to
which the Transferred Certificates were issued.

                                 Print Name of Transferee or Adviser

                                 By:
                                      -------------------------------------
                                 Name:
                                        -----------------------------------
                                 Title:
                                         ----------------------------------

                                 IF AN ADVISER:

                                 Print Name of Transferee

                                 Date:
                                        -----------------------------------

                                    F-2A-7

<PAGE>

                                  EXHIBIT F-2B

               FORM II OF TRANSFEREE CERTIFICATE FOR TRANSFERS OF
               NON-REGISTERED CERTIFICATES HELD IN PHYSICAL FORM

                                     [Date]

Wells Fargo Bank Minnesota, N.A.
Wells Fargo Center
Sixth and Marquette
MAC # N9303-121
Minneapolis, Minnesota  55479-0113
Attention:  Corporate Trust Services (CMBS)

[OR OTHER CERTIFICATE REGISTRAR]

          Re:  Credit Suisse First Boston Mortgage Securities Corp., Commercial
               Mortgage Pass-Through Certificates, Series 2003-C4, Class ______
               Certificates [having an initial aggregate Certificate [Principal
               Balance] [Notional Amount] as of September 29, 2003 (the
               "Closing Date") of $__________] [evidencing a ____% Percentage
               Interest in the related Class] (the "Transferred Certificates")

Ladies and Gentlemen:

          This letter is delivered to you in connection with the transfer by
_______________________ (the "Transferor") to _______________________________
(the "Transferee") of the Transferred Certificates pursuant to Section 5.02 of
the Pooling and Servicing Agreement dated as of September 11, 2003 (the
"Pooling and Servicing Agreement"), among Credit Suisse First Boston Mortgage
Securities Corp. as depositor, KeyCorp Real Estate Capital Markets, Inc., as
master servicer (in such capacity, the "Master Servicer"), Lennar Partners,
Inc., as special servicer (in such capacity, the "Special Servicer"), and
Wells Fargo Bank Minnesota, N.A., as trustee (in such capacity, the
"Trustee"). All capitalized terms used herein and not otherwise defined 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. 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. Transferee understands that (a) the Transferred Certificates have
not been and will not be registered under the Securities Act or registered or
qualified under any applicable state securities laws, (b) neither the
Depositor nor the Trustee is obligated so to register or qualify the
Transferred Certificates, and (c) neither the Transferred Certificates nor any
security issued in exchange therefor or

                                    F-2B-1

<PAGE>

in lieu thereof may be resold 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 a transaction
which is exempt from such registration and qualification and the Certificate
Registrar has received (A) a certificate from the prospective transferor
substantially in the form attached as Exhibit F-1A to the Pooling and
Servicing Agreement; (B) a certificate from the prospective transferor
substantially in the form attached as Exhibit F-1B to the Pooling and
Servicing Agreement and a certificate from the prospective transferee
substantially in the form attached either as Exhibit F-2A or as Exhibit F-2B
to the Pooling and Servicing Agreement; or (C) an Opinion of Counsel
satisfactory to the Certificate Registrar that the transfer may be made
without registration under the Securities Act, together with the written
certification(s) as to the facts surrounding the transfer from the prospective
transferor and/or prospective transferee upon which such Opinion of Counsel is
based.

          3. The Transferee understands that it may not sell or otherwise
transfer the Transferred Certificates, any security issued in exchange
therefor or in lieu thereof or any interest in the foregoing except in
compliance with the provisions of Section 5.02 of the Pooling and Servicing
Agreement, which provisions it has carefully reviewed, and that the
Transferred Certificates will bear legends substantially to the following
effect:

          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, PLEDGE, 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 5.02 OF THE POOLING AND SERVICING
          AGREEMENT REFERRED TO HEREIN.

          NO TRANSFER OF THIS CERTIFICATE OR ANY INTEREST HEREIN MAY
          BE MADE TO (A) ANY RETIREMENT PLAN OR OTHER EMPLOYEE
          BENEFIT PLAN OR 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 (B) ANY PERSON
          WHO IS DIRECTLY OR INDIRECTLY PURCHASING THIS CERTIFICATE
          OR SUCH INTEREST HEREIN 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, EXCEPT
          IN ACCORDANCE WITH THE PROVISIONS OF SECTION 5.02 OF THE
          POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.

          4. Neither the Transferee nor anyone acting on its behalf has (a)
offered, transferred, pledged, sold or otherwise disposed of any Transferred
Certificate, any interest in a Transferred Certificate or any other similar
security to any person in any manner, (b) solicited any offer to buy or

                                    F-2B-2

<PAGE>

accept a transfer, pledge or other disposition of any Transferred Certificate,
any interest in a 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 a 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, that (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 nor will it authorize any person to act,
in any manner set forth in the foregoing sentence with respect to the
Transferred Certificates, any interest in the Transferred Certificates or any
other similar security.

          5. The Transferee has been furnished with all information regarding
(a) the Depositor, (b) the Transferred Certificates and distributions thereon,
(c) nature, performance and servicing of the Mortgage Loans, (d) the Pooling
and Servicing Agreement and the Trust Fund created pursuant thereto and (e)
all related matters, that it has requested.

          6. The Transferee is an "accredited investor" within the meaning of
paragraph (1), (2), (3) or (7) of Rule 501(a) under the Securities Act or an
entity in which all the equity owners come within such paragraphs 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 Transferred
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.

          7. If the Transferee proposes that the Transferred Certificates be
registered in the name of a nominee, such nominee has completed the Nominee
Acknowledgment below.

                                  Very truly yours,

                                  By:
                                       --------------------------------------
                                       (Transferee)

                                  Name:
                                  Title:

                                    F-2B-3

<PAGE>

                             Nominee Acknowledgment
                             ----------------------

          The undersigned hereby acknowledges and agrees that as to the
Transferred Certificates being registered in its name, the sole beneficial
owner thereof is and shall be the Transferee identified above, for whom the
undersigned is acting as nominee.

                                  ---------------------------------------------
                                  (Nominee)

                                  By:
                                     ------------------------------------------
                                  Name:
                                  Title:

                                    F-2B-4

<PAGE>

                                  EXHIBIT F-2C

                        FORM I OF TRANSFEREE CERTIFICATE
           FOR TRANSFERS OF INTERESTS IN NON-REGISTERED CERTIFICATES
                            HELD IN BOOK-ENTRY FORM

                                     [Date]

[TRANSFEROR]

          Re:  Credit Suisse First Boston Mortgage Securities Corp., Commercial
               Mortgage Pass-Through Certificates, Series 2003-C4, Class ______
               Certificates [having an initial aggregate Certificate [Principal
               Balance] [Notional Amount] as of September 29, 2003 (the
               "Closing Date") of $__________] (the "Transferred Certificates")

Ladies and Gentlemen:

          This letter is delivered to you in connection with the Transfer by
_________________ (the "Transferor") to _________________ (the "Transferee")
through our respective Depository Participants of the Transferor's beneficial
ownership interest (currently maintained on the books and records of The
Depository Trust Corporation ("DTC") and the Depository Participants) in the
Transferred Certificates. The Certificates, including the Transferred
Certificates, were issued pursuant to the Pooling and Servicing Agreement
dated as of September 11, 2003 (the "Pooling and Servicing Agreement"), among
Credit Suisse First Boston Mortgage Securities Corp., as depositor, KeyCorp
Real Estate Capital Markets, Inc., as master servicer (in such capacity, the
"Master Servicer"), Lennar Partners, Inc., as special servicer (in such
capacity, the "Special Servicer"), and Wells Fargo Bank Minnesota, N.A., as
trustee (in such capacity, the "Trustee"). 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 and agrees with you, and for the benefit of the Depositor, the
Trustee and the 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 Transfer to it of the
Transferor's interest in the Transferred Certificates is being made in
reliance on Rule 144A. The Transferee is acquiring such interest in the
Transferred Certificates for its own account or for the account of a Qualified
Institutional Buyer.

          2. The Transferee understands that (a) the Transferred Certificates
have not been and will not be registered under the Securities Act or
registered or qualified under any applicable state securities laws, (b)
neither the Depositor nor the Trustee is obligated so to register or qualify
the Transferred Certificates, and (c) neither the Transferred Certificates nor
any security issued in exchange therefor or in lieu thereof may be resold or
transferred unless it is (i) registered pursuant to the Securities

                                    F-2C-1

<PAGE>

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.

          3. The Transferee understands that it may not sell or otherwise
transfer any Transferred Certificate, any security issued in exchange therefor
or in lieu thereof or any interest in the foregoing except in compliance with
the provisions of Section 5.02 of the Pooling and Servicing Agreement, which
provisions it has carefully reviewed, and 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, PLEDGE, 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 5.02 OF THE POOLING AND SERVICING
          AGREEMENT REFERRED TO HEREIN.

          NO TRANSFER OF THIS CERTIFICATE OR ANY INTEREST HEREIN MAY
          BE MADE TO (A) ANY RETIREMENT PLAN OR OTHER EMPLOYEE
          BENEFIT PLAN OR 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 (B) ANY PERSON
          WHO IS DIRECTLY OR INDIRECTLY PURCHASING THIS CERTIFICATE
          OR SUCH INTEREST HEREIN 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, EXCEPT
          IN ACCORDANCE WITH THE PROVISIONS OF SECTION 5.02 OF THE
          POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.

                                    F-2C-2

<PAGE>

          4. 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, and (e) all related matters, that it has
requested.

                                 Very truly yours,

                                 (Transferee)

                                 By:
                                      ---------------------------------------
                                      Name:
                                      Title:

                                    F-2C-3

<PAGE>

                                                       ANNEX 1 TO EXHIBIT F-2C
                                                       -----------------------

            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 for the benefit of Credit Suisse First Boston Mortgage
Securities Corp. with respect to the mortgage pass-through certificates being
transferred in book-entry form (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 acquiring interests in the Transferred Certificates (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] [each of the Transferee's equity owners]
owned and/or invested on a discretionary basis $______________________(1) 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.

     ___    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
            Transferred Certificates 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

--------------------------
1    Transferee or each of its equity owners must own and/or invest on a
     discretionary basis at least $100,000,000 in securities unless Transferee
     or any such equity owner, as the case may be, is a dealer, and, in that
     case, Transferee or such equity owner, as the case may be, must own
     and/or invest on a discretionary basis at least $10,000,000 in
     securities.

                                    F-2C-4

<PAGE>

            (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 Transferred Certificates in the
            case of a U.S. savings and loan association, and not more than 18
            months preceding such date of sale in the case of 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.

     ___    Investment Advisor. The Transferee is an investment advisor
            registered under the Investment Advisers Act of 1940, as amended.

     ___    QIB Subsidiary. All of the Transferee's equity owners are
            "qualified institutional buyers" within the meaning of Rule 144A.

     ___    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. 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 (i) securities of issuers that are affiliated with
such Person, (ii) securities that are part of an unsold allotment to or
subscription by such Person, if such Person 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.

          4. For purposes of determining the aggregate amount of securities
owned and/or invested on a discretionary basis by any such Person, the
Transferee used the cost of such securities to such Person, unless such Person
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 such Person, but only if
such subsidiaries are consolidated with such Person in its financial
statements prepared in accordance with generally accepted accounting
principles and if the investments of such subsidiaries are managed

                                    F-2C-5

<PAGE>

under such Person's direction. However, such securities were not included if
such Person is a majority-owned, consolidated subsidiary of another enterprise
and such Person 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 Certificates are relying and will continue to rely on the
statements made herein because one or more Transfers to the Transferee may be
in reliance on Rule 144A.

          ____ ____ Will the Transferee be acquiring interests in the
          Yes  No   Transferred Yes No Certificates 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 acquiring any interest in the Transferred
Certificates 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 acquisition of any
interest in of the Transferred Certificates will constitute a reaffirmation of
this certification as of the date of such acquisition. 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 acquisition,
promptly after they become available.

          8. Capitalized terms used but not defined herein have the meanings
ascribed thereto in the Pooling and Servicing Agreement pursuant to which the
Transferred Certificates were issued.

                                   (Transferee)

                                   By:
                                        -------------------------------------
                                   Name:
                                   Title:
                                   Date:

                                    F-2C-6

<PAGE>

                                                       ANNEX 2 TO EXHIBIT F-2C
                                                       -----------------------

            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 Credit Suisse First Boston Mortgage
Securities Corp. with respect to the mortgage pass-through certificates being
transferred in book-entry form (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 acquiring interests in 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).

                                    F-2C-7

<PAGE>

          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 Transferor and other parties related to the Transferred Certificates are
relying and will continue to rely on the statements made herein because one or
more Transfers to the Transferee will be in reliance on Rule 144A.

          ____  ____  Will the Transferee be acquiring interests in the
          Yes   No    Transferred Certificates 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 acquiring any interest in the Transferred
Certificates 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 acquisition of any interest in the
Transferred Certificates will constitute a reaffirmation of this certification
by the undersigned as of the date of such acquisition.

          8. Capitalized terms used but not defined herein have the meanings
ascribed thereto in the Pooling and Servicing Agreement pursuant to which the
Transferred Certificates were issued.

                              (Transferee or Adviser)

                              By:
                                   ----------------------------------------
                              Name:
                              Title:

                              IF AN ADVISER:

                              ---------------------------------------------
                              Print Name of Transferee

                              Date:

                                    F-2C-8

<PAGE>

                                  EXHIBIT F-2D

                     FORM II OF TRANSFEREE CERTIFICATE FOR
             TRANSFERS OF INTERESTS IN NON-REGISTERED CERTIFICATES
                            HELD IN BOOK ENTRY FORM

                                     [Date]

[TRANSFEROR]

          Re:  Credit Suisse First Boston Mortgage Securities Corp., Commercial
               Mortgage Pass-Through Certificates, Series 2003-C4, Class ______
               Certificates [having an initial aggregate Certificate [Principal
               Balance] [Notional Amount] as of September 29, 2003 (the
               "Closing Date") of $__________] (the "Transferred Certificates")

Ladies and Gentlemen:

          This letter is delivered to you in connection with the Transfer by
_________________ (the "Transferor") to _________________ (the "Transferee")
through our respective Depository Participants of the Transferor's beneficial
ownership interest (currently maintained on the books and records of The
Depository Trust Corporation ("DTC") and the Depository Participants) in the
Transferred Certificates. The Certificates, including the Transferred
Certificates, were issued pursuant to the Pooling and Servicing Agreement
dated as of September 11, 2003 (the "Pooling and Servicing Agreement"), among
Credit Suisse First Boston Mortgage Securities Corp., as depositor, KeyCorp
Real Estate Capital Markets, Inc., as master servicer (in such capacity, the
"Master Servicer"), Lennar Partners, Inc., as special servicer (in such
capacity, the "Special Servicer"), and Wells Fargo Bank Minnesota, N.A., as
trustee (in such capacity, the "Trustee"). 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 and agrees with you, and for the benefit of the Depositor, the
Trustee and the Certificate Registrar, that:

          1. The Transferee is not a United States Securities Person. For
purposes of this certification, "United States Securities 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;
(iii) any estate of which any executor or administrator is a United States
Securities Person, other than any estate of which any professional fiduciary
acting as executor or administrator is a United States Securities Person if an
executor or administrator of the estate who is not a United States Securities
Person has sole or shared investment discretion with respect to the assets of
the estate and the estate is governed by foreign law, (iv) any trust of which
any trustee is a United States Securities Person, other than a trust of which
any professional fiduciary acting as trustee is a United States Securities
Person if a trustee who is not a United States Securities Person has sole or
shared investment discretion with respect to the trust assets and no
beneficiary of the trust (and so settler if the trust is revocable) is a
United States Securities Person, (v) any agency or branch of a foreign entity
located in the United States, unless the agency or branch operates for valid
business reasons and is engaged in the business of insurance or banking and is
subject to substantive insurance or banking regulation, respectively, in the
jurisdiction

                                    F-2D-1

<PAGE>

where located, (vi) any non-discretionary account 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 Securities Person, (vii) any discretionary
account 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 one held for the benefit or account of a non-United
States Securities Person by a dealer or other professional fiduciary
organized, incorporated or (if any individual) resident in the United States,
(viii) any partnership or corporation if (a) organized or incorporated under
the laws of any foreign jurisdiction and (b) formed by a United States
Securities Person principally for the purpose of investing in securities not
registered under the Securities Act, unless it is organized or incorporated,
and owned, by "accredited investors" (as defined in Rule 501(a)) under the
United States Securities Act of 1933, as amended (the "Securities Act"), who
are not natural persons, estates or trusts; provided, however, that the
International Monetary Fund, the International Bank for Reconstruction and
Development, the Inter-American Development Bank, the Asian Development Bank,
the African Development Bank, the United Nations and their agencies,
affiliates and pension plans, any other similar international organization,
their agencies, affiliates and pension plans shall not constitute United
States Securities Persons.

          2. The Transferee understands that (a) the Transferred Certificates
have not been and will not be registered under the Securities Act or
registered or qualified under any applicable state securities laws, (b)
neither the Depositor nor the Trustee is obligated so to register or qualify
the Transferred Certificates, and (c) neither the Transferred Certificates nor
any security issued in exchange therefor or in lieu thereof 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)
is sold or transferred in transactions which are exempt from such registration
and qualification.

          3. The Transferee understands that it may not sell or otherwise
transfer any Transferred Certificate, any security issued in exchange therefor
or in lieu thereof or any interest in the foregoing except in compliance with
the provisions of Section 5.02 of the Pooling and Servicing Agreement, which
provisions it has carefully reviewed, and 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, PLEDGE, 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 5.02 OF THE POOLING AND SERVICING
          AGREEMENT REFERRED TO HEREIN.

          NO TRANSFER OF THIS CERTIFICATE OR ANY INTEREST HEREIN MAY
          BE MADE TO (A) ANY RETIREMENT PLAN OR OTHER EMPLOYEE
          BENEFIT PLAN OR 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

                               F-2D-2

<PAGE>

          "CODE"), OR (B) ANY PERSON WHO IS DIRECTLY OR INDIRECTLY
          PURCHASING THIS CERTIFICATE OR SUCH INTEREST HEREIN 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, EXCEPT IN ACCORDANCE WITH THE
          PROVISIONS OF SECTION 5.02 OF THE POOLING AND SERVICING
          AGREEMENT REFERRED TO HEREIN.

          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
authorized you to produce this certification to any interested party in such
proceedings.

Dated:  __________, ____

                             By:
                                  -------------------------------------------
                             As, or agent for, the beneficial owner(s) of the
                             Certificates to which this certificate relates

                                    F-2D-3

<PAGE>

                                  EXHIBIT G-1

            FORM OF TRANSFEREE CERTIFICATE IN CONNECTION WITH ERISA
             (NON-REGISTERED CERTIFICATES AND NON-INVESTMENT GRADE
           CERTIFICATES HELD IN FULLY REGISTERED, CERTIFICATED FORM)

                                     [Date]

Wells Fargo Bank Minnesota, N.A.
Wells Fargo Center
Sixth and Marquette
MAC # N9303-121
Minneapolis, Minnesota  55479-0113
Attention:  Corporate Trust Services (CMBS)

          Re:  Credit Suisse First Boston Mortgage Securities Corp., Commercial
               Mortgage Pass-Through Certificates, Series 2003-C4, Class ______
               Certificates [having an initial aggregate Certificate [Principal
               Balance] [Notional Amount] as of September 29, 2003 (the
               "Closing Date") of $__________] [evidencing a ____% Percentage
               Interest in the related Class] (the "Transferred Certificates")

Ladies and Gentlemen:

          This letter is delivered to you in connection with the transfer by
_________________ (the "Transferor") to _________________ (the "Transferee")
of the Transferred Certificates pursuant to Section 5.02 of the Pooling and
Servicing Agreement dated as of September 11, 2003 (the "Pooling and Servicing
Agreement"), among Credit Suisse First Boston Mortgage Securities Corp., as
depositor, KeyCorp Real Estate Capital Markets, Inc., as master servicer (in
such capacity, the "Master Servicer"), Lennar Partners, Inc., as special
servicer (in such capacity, the "Special Servicer"), and Wells Fargo Bank
Minnesota, N.A., as trustee (in such capacity, the "Trustee"). 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, as follows
(check the applicable paragraph):

     ___    The Transferee is neither (A) a retirement plan or other employee
            benefit plan or arrangement, including an individual retirement
            account or annuity, a Keogh plan or a collective investment fund
            or separate account in which such plans, accounts or arrangements
            are invested, including an insurance company general account, that
            is subject to ERISA or Section 4975 of the Code (each, a "Plan"),
            nor (B) a Person who is directly or indirectly purchasing the
            Transferred Certificates on behalf of, as named fiduciary of, as
            trustee of, or with assets of a Plan; or

                                    G-1-1

<PAGE>

     ___    The Transferee is using funds from an insurance company general
            account to acquire the Transferred Certificates, however, the
            purchase and holding of such Certificates by such Person is exempt
            from the prohibited transaction provisions of Section 406 of ERISA
            and Section 4975 of the Code by reason of Sections I and III of
            Prohibited Transaction Class Exemption 95-60.

     ___    The Transferred Certificates are Class ___ Certificates, an
            interest in which is being acquired by or on behalf of a Plan in
            reliance on the individual prohibited transaction exemption issued
            by the U.S. Department of Labor to Credit Suisse First Boston LLC
            (PTE 89-90), and such Plan (X) is an accredited investor as
            defined in Rule 501(a)(1) of Regulation D of the Securities Act,
            (Y) is not sponsored (within the meaning of Section 3(16)(B) of
            ERISA) by the Trustee, the Depositor, Column, KeyBank, the Master
            Servicer, the Special Servicer, any Exemption-Favored Party, any
            Sub-Servicer or any Borrower with respect to any Trust Mortgage
            Loan or group of Trust Mortgage Loans that represents more than 5%
            of the aggregate unamortized principal balance of the Trust
            Mortgage Loans determined on the date of the initial issuance of
            the Certificates, or by an Affiliate of any such Person, and (Z)
            agrees that it will obtain from each of its Transferees to which
            it transfers an interest in the Transferred Certificates, a
            written representation that such Transferee, if a Plan, satisfies
            the requirements of the immediately preceding clauses (X) and (Y),
            together with a written agreement that such Transferee will obtain
            from each of its Transferees that are Plans a similar written
            representation regarding satisfaction of the requirements of the
            immediately preceding clauses (X) and (Y).

                                 Very truly yours,

                                 -------------------------------------------
                                 (Transferee)

                                 By:
                                      --------------------------------------
                                      Name:
                                             -------------------------------
                                      Title:
                                              ------------------------------

                                    G-1-2

<PAGE>

                                  EXHIBIT G-2

            FORM OF TRANSFEREE CERTIFICATE IN CONNECTION WITH ERISA
             (NON-REGISTERED CERTIFICATES HELD IN BOOK ENTRY FORM)

                                     [Date]

[TRANSFEROR]

          Re: Credit Suisse First Boston Mortgage Securities Corp., Commercial
              Mortgage Pass-Through Certificates, Series 2003-C4, Class ______
              Certificates [having an initial aggregate Certificate [Principal
              Balance] [Notional Amount] as of September 29, 2003 (the "Closing
              Date") of $__________] [evidencing a ____% Percentage Interest in
              the related Class] (the "Transferred Certificates")

Ladies and Gentlemen:

          This letter is delivered to you in connection with the Transfer by
______________________ (the "Transferor") to _________________ (the
"Transferee") through our respective Depository Participants of the
Transferor's beneficial ownership interest (currently maintained on the books
and records of The Depository Trust Corporation ("DTC") and the Depository
Participants) in the Transferred Certificates. The Certificates, including the
Transferred Certificates, were issued pursuant to the Pooling and Servicing
Agreement dated as of September 11, 2003 (the "Pooling and Servicing
Agreement"), among Credit Suisse First Boston Mortgage Securities Corp., as
depositor, KeyCorp Real Estate Capital Markets, Inc., as master servicer (in
such capacity, the "Master Servicer"), Lennar Partners, Inc., as special
servicer (in such capacity, the "Special Servicer"), and Wells Fargo Bank
Minnesota, N.A., as trustee (in such capacity, the "Trustee"). 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 follows (check the applicable
paragraph):

     ___    The Transferee is neither (A) a retirement plan, an employee
            benefit plan or other retirement arrangement, including an
            individual retirement account or annuity, a Keogh plan or a
            collective investment fund or separate account in which such
            plans, accounts or arrangements are invested, including an
            insurance company general account, that is subject to Section 406
            of ERISA or Section 4975 of the Code (each, a "Plan"), nor (B) a
            Person who is directly or indirectly purchasing an interest in the
            Transferred Certificates on behalf of, as named fiduciary of, as
            trustee of, or with assets of, a Plan;

     ___    The Transferee is using funds from an insurance company general
            account to acquire an interest in the Transferred Certificates,
            however, the purchase and holding of such interest by such Person
            is exempt from the prohibited transaction provisions of Section
            406 of ERISA and Section 4975 of the Code by reason of Sections I
            and III of Prohibited Transaction Class Exemption 95-60; or

                                    G-2-1

<PAGE>

     ___    The Transferred Certificates are Class ____ Certificates, an
            interest in which is being acquired by or on behalf of a Plan in
            reliance on the individual prohibited transaction exemption issued
            by the U.S. Department of Labor to Credit Suisse First Boston LLC
            (PTE 89-90), and such Plan (X) is an accredited investor as
            defined in Rule 501(a)(1) of Regulation D of the Securities Act,
            (Y) is not sponsored (within the meaning of Section 3(16)(B) of
            ERISA) by the Trustee, the Depositor, Column, KeyBank, the Master
            Servicer, the Special Servicer, any Exemption-Favored Party, any
            Sub-Servicer or any Borrower with respect to any Trust Mortgage
            Loan or group of Trust Mortgage Loans that represents more than 5%
            of the aggregate unamortized principal balance of the Trust
            Mortgage Loans determined on the date of the initial issuance of
            the Certificates, or by an Affiliate of any such Person, and (Z)
            agrees that it will obtain from each of its Transferees to which
            it transfers an interest in the Transferred Certificates, a
            written representation that such Transferee, if a Plan, satisfies
            the requirements of the immediately preceding clauses (X) and (Y),
            together with a written agreement that such Transferee will obtain
            from each of its Transferees that are Plans a similar written
            representation regarding satisfaction of the requirements of the
            immediately preceding clauses (X) and (Y).

                                     -----------------------------------------
                                     (Transferee)

                                     By:
                                          ------------------------------------
                                          Name:
                                                 -----------------------------
                                          Title:
                                                  ----------------------------

                                    G-2-2

<PAGE>

                                  EXHIBIT H-1

               FORM OF RESIDUAL TRANSFER AFFIDAVIT AND AGREEMENT
                     FOR TRANSFERS OF CLASS R 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 Credit Suisse First Boston
Mortgage Securities Corp., Commercial Mortgage Pass-Through Certificates,
Series 2003-C4, Class R, evidencing a ___% Percentage Interest in such Class
(the "Residual Interest 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 pursuant to which the Residual Interest
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, a possession of the United States, Non-United
States Tax Person, domestic partnership whose beneficial interests are not all
held by United States Persons (as defined below) or a foreign permanent
establishment or fixed based (each within the meaning of an applicable tax
treaty) of a United States Person. (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
under the Code on transfers of the Residual Interest Certificates to
non-Permitted Transferees; (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
Interest 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

                                    H-1-1

<PAGE>

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 Interest 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 Interest 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 Interest
Certificates will only be owned, directly or indirectly, by a Permitted
Transferee. In addition, the Transferee will honor all the restrictions set
forth herein upon any subsequent transfers of the Class R Certificates.

          7. The Transferee's taxpayer identification number is
_________________.

          8. The Transferee has reviewed the provisions of Section 5.02(d) of
the Pooling and Servicing Agreement, a description of which provisions is set
forth in the Residual Interest Certificates (in particular, clause (ii)(A) of
Section 5.02(d) which authorizes the Trustee to deliver payments on the
Residual Interest Certificates to a Person other than the Transferee and
clause (ii)(B) of Section 5.02(d) which authorizes the Trustee to negotiate a
mandatory sale of the Residual Interest Certificates, in either case, in the
event that the Transferee holds such Residual Interest Certificates in
violation of Section 5.02(d)); 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. In accordance with Treasury Regulation Section 1.860E-1 [check
the statement that applies]:

               (a) The consideration paid to the Transferee for accepting the
     Class R Certificates is greater than the present value of the anticipated
     net federal income taxes and tax benefits ("Tax Liability Present Value")
     associated with owning such Certificates, with such present value
     computed using a discount rate equal to the "federal short-term rate"
     prescribed by Section 1274 of the Code as of the date hereof or, to the
     extent it is not, the Transferee has regularly borrowed, in the ordinary
     course of its trade or business, substantial funds from unrelated third
     parties at a lower interest rate than such applicable federal rate and
     the consideration paid to the Transferee is greater than the Tax
     Liability Present Value using such lower interest rate as the discount
     rate and the transactions in question with unrelated third party lenders,
     the interest rate or rates, the date or dates of such transactions, and
     the maturity dates or,

                                    H-1-2

<PAGE>

     in the case of adjustable rate debt instruments, the relevant adjustment
     dates or periods, with respect to such borrowings, are accurately
     reflected in Exhibit A to this letter; _______

          or

               (b) the Transferee (i) is an "eligible corporation" as defined
     in Section 1.860E-1(c)(6)(i) of the Treasury Regulations, as to which the
     income of the Residual Interest Certificates will only be subject to
     taxation in the United States, (ii) has, and has had in each of its two
     preceding fiscal years, gross assets for financial reporting purposes
     (excluding any obligation of a person related to the transferee within
     the meaning of Section 1.860E-1(c)(6)(i) of the Treasury Regulations or
     any other assets if a principal purpose for holding or acquiring such
     other assets is to satisfy this condition) in excess of $100 million and
     net assets of $10 million, and (iii) hereby agrees only to transfer the
     Certificate to another corporation meeting the criteria set forth in this
     letter. _______

          11. The Transferee will not cause the income from the Residual
Interest certificate to be attributed to a foreign permanent establishment or
fixed base.

          12. 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.

          For purposes of this affidavit, a "United States Person" is a
citizen or resident of the United States, a corporation, partnership or other
entity created or organized in, or under the laws of, the United States or any
political subdivision thereof, an estate 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 or a trust as to which (i) a court in the
United States is able to exercise primary supervision over the administration
of the trust and (ii) one or more United States fiduciaries have the right to
control all substantial decisions of the trust.

                                    H-1-3

<PAGE>

          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,
attested by its [Assistant] Secretary, this ______ day of ______________.

                                [TRANSFEREE]

                                By:
                                     ---------------------------------------
                                [Name of Officer]
                                [Title of Officer]

[Corporate Seal]

ATTEST:

---------------------------------
[Assistant] Secretary

          Personally appeared before me the above-named ____________________,
known or proved to me to be the same person who executed the foregoing
instrument and to be the ____________________ of the Transferee, and
acknowledged to me that he/she executed the same as his/her free act and deed
and the free act and deed of the Transferee

          Subscribed and sworn before me this ______ day of
__________________, ________.

______________________________
NOTARY PUBLIC

COUNTY OF ____________________

STATE OF ______________________

My Commission expires the _________ day of ___________, 20__.

                                    H-1-4

<PAGE>

                                  EXHIBIT H-2

                FORM OF TRANSFEROR CERTIFICATE FOR TRANSFERS OF
                              CLASS R CERTIFICATES

                                     [Date]

Wells Fargo Bank Minnesota, N.A.
Wells Fargo Center
Sixth and Marquette
MAC # N9303-121
Minneapolis, Minnesota  55479-0113
Attention:  Corporate Trust Services (CMBS)

          Re:  Credit Suisse First Boston Mortgage Securities Corp., Commercial
               Mortgage Pass-Through Certificates, Series 2003-C4, Class R
               Certificates, evidencing a ____% Percentage Interest in such
               Class (the "Residual Interest Certificates")

Ladies and Gentlemen:

          This letter is delivered to you in connection with the transfer by
_________________ (the "Transferor") to _________________ (the "Transferee")
of the Residual Interest Certificates, pursuant to the Pooling and Servicing
Agreement dated as of September 11, 2003 (the "Pooling and Servicing
Agreement"), among Credit Suisse First Boston Mortgage Securities Corp. as
depositor, KeyCorp Real Estate Capital Markets, Inc., as master servicer (in
such capacity, the "Master Servicer"), Lennar Partners, Inc., as special
servicer (in such capacity, the "Special Servicer"), and Wells Fargo Bank
Minnesota, N.A., as trustee (in such capacity, the "Trustee"). 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 Interest 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 as Exhibit H-1. 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 (or the
beneficial owners of the Transferee if the Transferee is classified as a
partnership under the Code) 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

                                     H-2-1

<PAGE>

Transferor understands that the transfer of the Residual Interest 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.

                                   Very truly yours,

                                   [TRANSFEROR]

                                   By:
                                        ------------------------------------
                                   (Transferor)
                                   Name:
                                   Title:

                                    H-2-1

<PAGE>

                                   EXHIBIT I

             FORM OF ACKNOWLEDGMENT OF A PROPOSED SPECIAL SERVICER

                                     [Date]

[TRUSTEE]
[MASTER SERVICER]
[SPECIAL SERVICER]
[DEPOSITOR]

          Re:  Credit Suisse First Boston Mortgage Securities Corp., Commercial
               Mortgage Pass-Through Certificates, Series 2003-C4

Ladies and Gentlemen:

          Pursuant to Section [3.31(j)] [7.01(c)] of the Pooling and Servicing
Agreement, dated as of September 11, 2003, relating to Credit Suisse First
Boston Mortgage Securities Corp., Commercial Mortgage Pass-Through
Certificates, Series 2003-C4 (the "Agreement"), the undersigned hereby agrees
with all the other parties to the Agreement that the undersigned shall serve
as [[General][Mayfair Mall Mortgage Loan]] Special Servicer under, and as
defined in, the Agreement. The undersigned hereby acknowledges and agrees
that, as of the date hereof, it is and shall be a party to the Agreement and
bound thereby to the full extent indicated therein in the capacity of
[[General][Mayfair Mall Mortgage Loan]] Special Servicer. The undersigned
hereby makes, as of the date hereof, the representations and warranties set
forth in Section 3.24 of the Agreement, with the following corrections with
respect to type of entity and jurisdiction of organization: __________________.

                                        ---------------------------------------

                                        By:
                                             ----------------------------------
                                        Name:
                                        Title:

                                     I-1

<PAGE>

                                   EXHIBIT J

                         FORM OF AFFIDAVIT OF LOST NOTE

STATE OF                            )
                                    )  ss.:
COUNTY OF                           )

          _________________________________________, ______________________,
being duly sworn, deposes and says:

          1. that he/she is an authorized signatory of
_________________________ (the "Noteholder");

          2. that the Noteholder is the owner and holder of a mortgage loan in
the original principal amount of $____________________ secured by a mortgage
(the "Mortgage") on the premises known as
________________________________________, located in ____________________;

          3. that the Noteholder, after having conducted a diligent
investigation of its records and files, has been unable to locate the
following original note and believes that said original note has been lost,
misfiled, misplaced or destroyed due to a clerical error:

          a note in the original sum of $___________ made by
_____________________, to __________________________, under date of
___________ (the "Note");

          4. that the Note is now owned and held by the Noteholder;

          5. that the Note has not been paid-off, satisfied, assigned,
transferred, encumbered, endorsed, pledged, hypothecated, or otherwise
disposed of and that the original Note has been either lost, misfiled,
misplaced or destroyed;

          6. that no other person, firm, corporation or other entity has any
right, title, interest or claim in the Note except the Noteholder; and

                                     J-1

<PAGE>

                  7. upon assignment of the Note by the Noteholder to Credit
Suisse First Boston Mortgage Securities Corp. (the "Depositor" or the
"Purchaser") and subsequent assignment by the Depositor to Wells Fargo Bank
Minnesota, N.A., as trustee, (the "Trustee") for the benefit of the holders of
the Credit Suisse First Boston Mortgage Securities Corp. Commercial Mortgage
Pass-Through Certificates, Series 2003-C4 (which assignment may, at the
discretion of the Depositor, be made directly by the Noteholder to the
Trustee), the Noteholder covenants and agrees (a) to promptly deliver to the
Trustee the original Note if it is subsequently found, and (b) to indemnify and
hold harmless the Trustee and its successors and assigns from and against any
and all costs, expenses and monetary losses arising as a result of the
Noteholder's or the Depositor's failure to deliver said original Note to the
Trustee.

                                 NAME OF NOTEHOLDER

                                 By:
                                      ----------------------------------------
                                 Authorized Signatory

Sworn to before me this
_______  day of ____________, 20__

                                     J-1

<PAGE>

                                   EXHIBIT K

           FORM OF NOTICE REGARDING DEFEASANCE OF TRUST MORTGAGE LOAN

      [For loans having a principal balance of less than (a) $20,000,000,
     and (b) 5% of outstanding pool balance, and which loan is not one of
                 the 10 largest loans in the respective pool]

To:      Standard & Poor's Ratings Services
         55 Water Street
         New York, New York  10041
         Attn:  Commercial Mortgage Surveillance

From:    _________,  in its capacity as Master Servicer (the "Master
         Servicer") under the Pooling and Servicing Agreement  dated as of
         ________  (the "Pooling and Servicing  Agreement"),  among the Master
         Servicer, _________, as Trustee, and others.

Date:    ____________________, 20___

Pool:    ___________________________________________
         Commercial Mortgage Pass-Through Certificates
         Series 2003-C4 (the "Trust")

Loan:    Trust Mortgage Loan (the "Trust Mortgage Loan") to __________________
         (the "Borrower") identified by loan number ________________ and
         heretofore secured by the real property known as

          Capitalized terms used but not defined herein have the meanings
assigned to such terms in the Pooling and Servicing Agreement.

          THE STATEMENTS SET FORTH BELOW ARE MADE (A) TO THE BEST KNOWLEDGE OF
THE UNDERSIGNED BASED UPON DUE DILIGENCE CONSISTENT WITH THE SERVICING
STANDARD SPECIFIED IN THE POOLING AND SERVICING AGREEMENT (THE "SERVICING
STANDARD"), AND (B) WITHOUT INTENDING TO WARRANT THE ACCURACY THEREOF OR
UNDERTAKE ANY DUTY OR STANDARD OF CARE GREATER THAN THE DUTIES OF THE MASTER
SERVICER UNDER THE POOLING AND SERVICING AGREEMENT AND THE SERVICING STANDARD.

          We hereby notify you and confirm that each of the following is true,
subject to those exceptions, if any, set forth on Exhibit A hereto, which
exceptions the Master Servicer has determined, consistent with the Servicing
Standard, will have no material adverse effect on the Trust Mortgage Loan or
the defeasance transaction:

          1. The mortgagor (the "Mortgagor") has consummated a defeasance of
the Trust Mortgage Loan of the type checked below:

     ____   a full defeasance of the entire outstanding principal balance
            ($___________) of the Trust Mortgage Loan; or

                                     K-1

<PAGE>

     ____   a partial defeasance of a portion ($__________) of the Trust
            Mortgage Loan that represents ___% of the entire principal balance
            of the Trust Mortgage Loan ($________);

          2. The defeasance was consummated on __________, 20__.

          3. The defeasance was completed in all material respects in
accordance with the conditions for defeasance specified in the Mortgage Loan
Documents and in accordance with the Servicing Standard.

          4. The defeasance collateral consists only of one or more of the
following: (i) direct debt obligations of the U.S. Treasury, (ii) direct debt
obligations of the Federal National Mortgage Association, (iii) direct debt
obligations of the Federal Home Loan Mortgage Corporation, or (iv)
interest-only direct debt obligations of the Resolution Funding Corporation.
Such defeasance collateral consists of securities that (i) if they include a
principal obligation, the principal due at maturity cannot vary or change,
(ii) provide for interest at a fixed rate and (iii) are not subject to
prepayment, call or early redemption.

          5. After the defeasance, the defeasance collateral will be owned by
an entity (the "Defeasance Obligor") that: (i) is the original Borrower, (ii)
is a Single-Purpose Entity (as defined in the S&P Criteria), (iii) is subject
to restrictions in its organizational documents substantially similar to those
contained in the organizational documents of the original Borrower with
respect to bankruptcy remoteness and single purpose, (iv) has been designated
as the Defeasance Obligor by the originator of the Trust Mortgage Loan
pursuant to the terms of the Mortgage Loan Documents, or (v) has delivered a
letter from S&P's confirming that the organizational documents of such
Defeasance Obligor were previously approved by S&P's. The Defeasance Obligor
owns no assets other than defeasance collateral and (only in the case of the
original Borrower) real property securing one or more Trust Mortgage Loans
included in the pool under the Pooling and Servicing Agreement (the "Pool").

          6. If such Defeasance Obligor (together with its affiliates) holds
more than one defeased loan, it does not (together with its affiliates) hold
defeased loans aggregating more than $20,000,000 or more than five percent
(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
the Master Servicer (the "Current Report").

          7. The defeasance documents require that the defeasance collateral
be credited to an eligible account (as defined in the S&P Criteria) that must
be maintained as a securities account by a securities intermediary that is at
all times an Eligible Institution (as defined in the S&P Criteria). The
securities intermediary may reinvest proceeds of the defeasance collateral
only in Permitted Investments (as defined in the Pooling and Servicing
Agreement).

          8. The securities intermediary is obligated to pay from the proceeds
of the defeasance collateral, directly to the Master Servicer's collection
account, all scheduled payments on the Trust Mortgage Loan or, in a partial
defeasance, not less than 125% of the portion of such scheduled payments
attributed to the allocated loan amount for the real property defeased (the
"Scheduled Payments").

          9. The Master Servicer received written confirmation from an
independent certified public accountant stating that (i) revenues from the
defeasance collateral (without taking into account any earnings on
reinvestment of such revenues) will be sufficient to timely pay each of the
Scheduled

                                     K-2

<PAGE>

Payments including the payment in full of the Trust Mortgage Loan (or the
allocated portion thereof in connection with a partial defeasance) on its
Maturity Date (or, in the case of an ARD Trust Mortgage 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, (iii) the defeasance collateral is not
subject to prepayment, call or early redemption, and (iv) interest income from
the defeasance collateral to the Defeasance Obligor in any tax year will not
exceed such Defeasance Obligor's interest expense for the Trust Mortgage Loan
(or the allocated portion thereof in a partial defeasance) for such year,
other than in the year in which the Maturity Date or Anticipated Repayment
Date will occur, when interest income will exceed interest expense.

          10. The Master Servicer received opinions of counsel that, subject
to customary qualifications and exceptions, (i) the defeasance will not cause
the Trust to fail to qualify as a REMIC for purpose of the Internal Revenue
Code, (ii) the agreements executed by the Mortgagor and the Defeasance Obligor
in connection with the defeasance are enforceable against them in accordance
with their terms, and (iii) the Trustee will have a perfected, first priority
security interest in the defeasance collateral.

          11. The agreements executed in connection with the defeasance (i)
prohibit subordinate liens against the defeasance collateral, (ii) provide for
payment from sources other than the defeasance collateral of all fees 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, (iii) permit release of surplus defeasance
collateral and earnings on reinvestment to the Defeasance Obligor only after
the Trust Mortgage Loan has been paid in full, (iv) include representations
and/or covenants of the Mortgagor and/or securities intermediary substantially
as set forth on Exhibit B hereto, (v) provide for survival of such
representations; and (vi) do not permit waiver of such representations and
covenants.

          12. The outstanding principal balance of the Trust Mortgage Loan
immediately before the defeasance was less than $20,000,000 and less than 5%
of the aggregate certificate balance of the Certificates as of the date of the
Current Report. The Trust Mortgage Loan is not one of the ten (10) largest
loans in the pool.

          13. Copies of all material agreements, instruments, organizational
documents, opinions of counsel, accountant's report and other items delivered
in connection with the defeasance will be provided to you upon request.

          14. The individual executing this notice is an authorized officer or
a servicing officer of the Master Servicer.

          IN WITNESS WHEREOF, the Master Servicer has caused this notice to be
executed as of the date captioned above.

                                     [MASTER SERVICER]:

                                     By:
                                          ------------------------------------
                                     Name:
                                     Title:

                                     K-3

<PAGE>

                             Exhibit A to Exhibit K

                                   EXCEPTIONS

                                     K-4

<PAGE>

                             Exhibit B to Exhibit K

               REPRESENTATIONS AND/OR COVENANTS OF THE MORTGAGOR
                         AND/OR SECURITIES INTERMEDIARY

          General:

          1. [The defeasance agreements] create a valid and continuing
security interest (as defined in the applicable UCC) in the [name specified
accounts] in favor of the [Secured Party], which security interest is prior to
all other [Liens], and is enforceable as such as against creditors of and
purchasers from [Debtor].

          Note that "Collateral" means securities, permitted investments and
other assets credited to securities accounts.

          2. The [Deposit Account], constitutes a "deposit account" within the
meaning of the applicable UCC.

          3. All of the [Collateral] has been and will have been credited to a
[Securities Account]. The securities intermediary for the [Securities Account]
has agreed to treat all assets credited to the [Securities Account] as
"financial assets" within the meaning of the UCC.

          Creation:

          4. [Debtor] owns and has good and marketable title to the
[Collateral, Securities Account and Deposit Account] free and clear of any
[Lien], claim or encumbrance of any Person.

          5. [Debtor] has received all consents and approvals required by the
terms of the [Collateral] to the transfer to the [Secured Party] of its
interest and rights in the [Collateral] hereunder.

          Perfection:

          6. [Debtor] has caused or will have caused, within ten (10) days,
the filing of all appropriate financing statements in the proper filing office
in the appropriate jurisdictions under applicable law in order to perfect the
security interest granted in the [Collateral, Securities Account and Deposit
Account] to the [Secured Party] hereunder.

          7. [Debtor] has delivered to [Secured Party] a fully executed
agreement pursuant to which the securities intermediary or the account bank
has agreed to comply with all instructions originated by the [Secured Party]
relating to the [Securities Account] or directing disposition of the funds in
the [Deposit Account] without further consent by the [Debtor].

          8. [Debtor] has taken all steps necessary to cause the securities
intermediary to identify in its records the [Secured Party] as the person
having a security entitlement against the securities intermediary in the
[Securities Account].

          9. [Debtor] has taken all steps necessary to cause [Secured Party]
to become the account holder of the [Deposit Account].

                                     K-5

<PAGE>

          Priority:

          10. Other than the security interest granted to the [Secured Party]
pursuant to this Agreement, [Debtor] has not pledged, assigned, sold, granted
a security interest in, or otherwise conveyed any of the [Collateral,
Securities Account and Deposit Account]. [Debtor] has not authorized the
filing of and is not aware of any financing statements against [Debtor] that
include a description of collateral covering the [Collateral, Securities
Account and Deposit Account] other than any financing statement relating to
the security interest granted to the [Secured Party] hereunder or that has
been terminated. Debtor is not aware of any judgment or tax lien filings
against [Debtor].

          11. The [Securities Account and Deposit Account] are not in the name
of any person other than the [Debtor] or the [Secured Party]. The [Debtor] has
not consented to the securities intermediary of any [Securities Account] or
the account bank of any [Deposit Account] to comply with entitlement orders or
instructions of any person other than the [Secured Party].

                                     K-6

<PAGE>

                                   EXHIBIT L

                          SCHEDULE OF REFERENCE RATES

Month in which Subject                   Month in which Subject
  Distribution Date                         Distribution Date
        Occurs          Reference Rate           Occurs          Reference Rate
----------------------  --------------   ----------------------  --------------
     October 2003          5.37974%            April 2007           5.55084%
    November 2003          5.56007%             May 2007            5.37068%
    December 2003          5.37976%             June 2007           5.55067%
     January 2004          5.56008%             July 2007           5.37063%
    February 2004          5.37977%            August 2007          5.55061%
      March 2004           5.37993%          September 2007         5.54818%
      April 2004           5.56009%           October 2007          5.36824%
       May 2004            5.37978%           November 2007         5.54816%
      June 2004            5.56011%           December 2007         5.36780%
      July 2004            5.37981%           January 2008          5.54594%
     August 2004           5.56014%           February 2008         5.36605%
    September 2004         5.56016%            March 2008           5.36704%
     October 2004          5.37987%            April 2008           5.54335%
    November 2004          5.56017%             May 2008            5.37580%
    December 2004          5.37975%             June 2008           5.55322%
     January 2005          5.37963%             July 2008           5.37311%
    February 2005          5.37953%            August 2008          5.66360%
      March 2005           5.38053%          September 2008         5.68554%
      April 2005           5.55960%           October 2008          5.50193%
       May 2005            5.37918%           November 2008         5.68710%
      June 2005            5.55936%           December 2008         5.50345%
      July 2005            5.37894%           January 2009          5.50421%
     August 2005           5.55910%           February 2009         5.50499%
    September 2005         5.55898%            March 2009           5.50856%
     October 2005          5.37857%            April 2009           5.69110%
    November 2005          5.55871%             May 2009            5.50734%
    December 2005          5.37831%             June 2009           5.69220%
     January 2006          5.37817%             July 2009           5.50758%
    February 2006          5.37805%            August 2009          5.69213%
      March 2006           5.38073%          September 2009         5.69209%
      April 2006           5.55800%           October 2009          5.50748%
       May 2006            5.37762%           November 2009         5.68692%
      June 2006            5.55772%           December 2009         5.50247%
      July 2006            5.37734%           January 2010          5.50243%
     August 2006           5.55743%           February 2010         5.50239%
    September 2006         5.55214%            March 2010           5.50351%
     October 2006          5.37191%            April 2010           5.68656%
    November 2006          5.55178%             May 2010            5.50208%

                                     L-1

<PAGE>

    December 2006          5.37156%             June 2010           5.68588%
     January 2007          5.37137%             July 2010           5.50213%
    February 2007          5.37121%            August 2010          5.68634%
      March 2007           5.37451%          September 2010         5.68630%

                                     L-2

<PAGE>

                                   EXHIBIT M

                      FORM OF SARBANES-OXLEY CERTIFICATION

          Re:  Credit Suisse First Boston  Commercial  Mortgage Trust 2003-C4
               (the "Trust"),  Commercial  Mortgage Pass-Through Certificates,
               Series 2003-C4

          I, [identify the certifying individual], a[n] [title] of [identify
name of company] on behalf of [identify name of company], as [Trustee/Master
Servicer], certify to [identify the individual signing the Sarbanes-Oxley
Certification], Credit Suisse First Boston Mortgage Securities Corp. (the
"Depositor") and its partners, representatives, affiliates, members, managers,
directors, officers, employees and agents, to the extent that the following
information is within our normal area of responsibilities and duties under the
pooling and servicing agreement dated as of September 11, 2003 and relating to
the captioned commercial mortgage pass-through certificates (the "Pooling and
Servicing Agreement"), and with the knowledge and intent that they will rely
upon this certification, that:

          1.   [To be certified by the Trustee] [I have reviewed the annual
               report on Form 10-K for the fiscal year [___] (the "Annual
               Report"), and all reports on Form 8-K containing statements to
               certificateholders under the Pooling and Servicing Agreement
               filed in respect of periods included in the year covered by the
               Annual Report (collectively with the Annual Report, the
               "Reports"), of the Trust;]

          2.   [To be certified by the Trustee] [To the best of my knowledge,
               the information in the Reports, to the extent prepared by the
               [Trustee] (and not including any information provided to the
               [Trustee] by the Master Servicer or the Special Servicer, other
               than to the extent that such information has been aggregated or
               manipulated by [Trustee]), taken as a whole, does not contain
               any untrue statement of a material fact or omit to state a
               material fact necessary to make the statements made, in light
               of the circumstances under which such statements were made, not
               misleading as of the last day of the period covered by the
               Annual Report;]

          3.   [To be certified by the Trustee] [To the best of my knowledge,
               the servicing information provided to the Trustee by the Master
               Servicer and the Special Servicer under the Pooling and
               Servicing Agreement for inclusion in the Reports is included in
               the Reports;]

          4.   [To be certified by the Master Servicer] [I am responsible for
               reviewing the activities performed by KeyCorp Real Estate
               Capital Markets, Inc. ("KRECM") as Master Servicer under the
               Pooling and Servicing Agreement and based upon the review
               required under the Pooling and Servicing Agreement with respect
               to the Master Servicer [and a certificate in the form attached
               as Exhibit A hereto from [_______________] as

                                     M-1

<PAGE>

               Special Servicer, with respect to such entity (which
               certificate, to our actual knowledge, contains no inaccurate
               information)], and except as disclosed in the annual report on
               Form 10-K for the fiscal year [___] (the "Annual Report"), or
               in any reports on Form 8-K containing statements to
               certificateholders under the Pooling and Servicing Agreement
               filed in respect of periods included in the year covered by the
               Annual Report (collectively with the Annual Report, the
               "Reports"), KRECM has fulfilled its material obligations as
               Master Servicer under the Pooling and Servicing Agreement,
               including the provision of all reports required to be submitted
               to the Trustee thereunder, and that, to the knowledge of KRECM
               as Master Servicer, based upon the review required under the
               Pooling and Servicing Agreement with respect to KRECM as Master
               Servicer [and a certificate in the form attached as Exhibit A
               hereto from [__________________] the Special Servicer, with
               respect to such entity (which certificate, to our actual
               knowledge, contains no inaccurate information)], such reports
               do not contain any material misstatements or omissions; and]

          5.   [To be certified by the Master Servicer] [I have disclosed to
               KRECM's certified public accountants all significant
               deficiencies relating to the compliance of KRECM as Master
               Servicer with the minimum servicing standards in accordance
               with a review conducted in compliance with the [Uniform Single
               Attestation Program for Mortgage Bankers] or similar standard
               as set forth in the Pooling and Servicing Agreement [and the
               compliance of [_____________________] as Special Servicer with
               the minimum servicing standards based on a certificate in the
               form attached as Exhibit A hereto from such entity].]

          Capitalized terms used but not defined herein have the respective
meanings set forth in the Pooling and Servicing Agreement.

Date:    _________________________

[NAME OF COMPANY]

-------------------------------
[Signature]
[Title]

                                     M-2

<PAGE>

                                                        EXHIBIT A to EXHIBIT M
                                                        ----------------------

          FORM OF CERTIFICATION TO BE PROVIDED TO THE MASTER SERVICER

          Re:  Credit Suisse First Boston  Commercial  Mortgage Trust 2003-C4
               (the "Trust"),  Commercial  Mortgage Pass-Through Certificates,
               Series 2003-C4

          I, [identify the certifying individual], a[n] [title] of [identify
name of company], on behalf of [identify name of company] as [Special
Servicer] certify to [identify the individual signing Exhibit A],
[___________________________________], as Master Servicer (the "Master
Servicer"), Credit Suisse First Boston Mortgage Securities Corp. ("Depositor")
and their respective partners, representatives, affiliates, members, managers,
directors, officers, employees and agents and with the knowledge and intent
that they will rely upon this certification:

          1.   [To be certified by the Special Servicer] [I am responsible for
               reviewing the activities performed by Lennar Partners, Inc.
               ("Lennar") as special servicer (the "Special Servicer") under
               the Pooling and Servicing Agreement dated as of September 11,
               2003 and relating to the captioned commercial mortgage
               pass-through certificates (the "Pooling and Servicing
               Agreement"), and based upon my knowledge and the annual
               compliance review performed as required under the Pooling and
               Servicing Agreement, and except as disclosed on Schedule 1
               hereto, Lennar, to my knowledge, has fulfilled its material
               obligations as Special Servicer under the Pooling and Servicing
               Agreement, including the provision of all information and/or
               reports required to be submitted by Lennar, as Special
               Servicer, to the Master Servicer and the Trustee thereunder,
               and that, to the knowledge of Lennar, as Special Servicer, such
               reports do not contain any material misstatements or omissions;
               and

          2.   [To be certified by the Special Servicer] [I have disclosed to
               Lennar's certified public accountants and [________________]'s
               certified public accountants all significant deficiencies, to
               my knowledge, relating to the compliance of Lennar as Special
               Servicer with the minimum servicing standards in accordance
               with a review conducted in compliance with the Uniform Single
               Attestation Program for Mortgage Bankers or similar standard as
               set forth in the Pooling and Servicing Agreement].

Date: _________________________

[NAME OF COMPANY]

-------------------------------
[Signature]
[Title]

                                     M-3

<PAGE>

                                   EXHIBIT N

                      SCHEDULE OF DESIGNATED SUB-SERVICERS

Capstone Realty Advisors, LLC

GMAC Commercial Mortgage Corporation

Midland Mortgage Investment Corporation

Northmarq Capital, Inc.

                                     N-1

<PAGE>

                                   EXHIBIT O

                        FORM OF CUSTODIAL CERTIFICATION

                                     [Date]

[DEPOSITOR]                 Mayfair Mall Non-Trust Companies Loan Holders

[MASTER SERVICER]           Mortgage Loan Sellers

[SPECIAL SERVICER]

          Re:  Credit Suisse First Boston Mortgage Securities Corp.,
               Commercial Mortgage Pass-Through Certificates,  Series 2003-C4

Ladies and Gentlemen:

          Pursuant to Section 2.02(b) of the Pooling and Servicing Agreement
dated as of September 11, 2003 and related to the above-referenced
Certificates (the "Agreement"), Wells Fargo Bank Minnesota, N.A. as trustee
(the "Trustee"), hereby certifies as to each Trust Mortgage Loan subject to
the Agreement (except as specifically identified in the exception report
attached hereto) that: (i) all documents specified in clauses (i) through (v),
(ix), (xi), (xii), (xvi) and (xviii) of the definition of "Mortgage File" are
in its possession, and (ii) all such Mortgage Loan Documents have been
received, have been executed, appear to be what they purport to be, purport to
be recorded or filed (if recordation or filing is specified for such document
in the definition of "Mortgage File") and have not been torn, mutilated or
otherwise defaced, and that such documents relate to the Trust Mortgage Loans
identified on the Trust Mortgage Loan Schedule.

          Other than as stipulated in the Agreement, none of the Trustee, the
Master Servicer, the Special Servicer, or any Custodian (a) is under any duty
or obligation to inspect, review or examine any of the documents, instruments,
certificates or other papers relating to the Trust Mortgage Loans delivered to
it to determine that the same are valid, legal, effective, genuine, binding,
enforceable, sufficient or appropriate for the represented purpose or that
they are other than what they purport to be on their face and (b) shall have
any responsibility for determining whether the text of any assignment or
endorsement is in proper or recordable form, whether the requisite recording
of any document is in accordance with the requirements of any applicable
jurisdiction, or whether a blanket assignment is permitted in any applicable
jurisdiction.

          In performing the reviews contemplated by Sections 2.02(a) and
2.02(b) of the Agreement, the Trustee may conclusively rely on the purported
genuineness of any such document and any signature thereon. It is understood
that the scope of the Trustee's review of the Mortgage Files is limited solely
to confirming that the documents specified in clauses (i)

                                     O-1

<PAGE>

through (v), (ix), (xi), (xii), (xvi) and (xviii) and have been received and
such additional information as will be necessary for delivering the
certifications required by the Agreement.

          Further, with respect to UCC filings, absent actual knowledge or
copies of UCC filings in the Mortgage File indicating otherwise, the Trustee
shall make the assumptions contemplated by Section 2.02(c) of the Agreement.

          Capitalized terms used herein and not otherwise defined shall have
the respective meanings assigned to them in the Agreement.

                                   Respectfully,

                                   WELLS FARGO BANK MINNESOTA, N.A.
                                   as Trustee

                                   By:
                                      -----------------------------------------
                                   Name:
                                   Title:

                                     O-2

<PAGE>

<TABLE>
<CAPTION>
                                                             EXHIBIT P

                                                  TRUST MORTGAGE LOANS COVERED BY
                                                   ENVIRONMENTAL INSURANCE POLICY

CSFB 2003-C4 Loans - Environmental Insurance Policy Loans:

                                                                     Environmental
         Loan #       Property Name                                 Insurance Carrier      Loan Seller       Cut-Off Balance
     ------------------------------------------------------------------------------------------------------------------------------

     ------------------------------------------------------------------------------------------------------------------------------
<S>                   <C>                                           <C>                    <C>               <C>
            12        Shadle Center                                        AIG               KeyBank           $24,473,658
     ------------------------------------------------------------------------------------------------------------------------------
            39        Lantana Shopping Center                              AIG               KeyBank           $10,987,640
     ------------------------------------------------------------------------------------------------------------------------------
            91        Richland Village Shopping Center                     AIG               Column             $3,680,937
     ------------------------------------------------------------------------------------------------------------------------------
           103        Anderson Oaks Mobile Home Park                       AIG               Column             $3,191,240
     ------------------------------------------------------------------------------------------------------------------------------
           113        Ramey's Mobile Home Park                             AIG               Column             $1,666,448
     ------------------------------------------------------------------------------------------------------------------------------
           114        Bexley Mobile Home Park                              AIG               Column             $1,095,094
     ------------------------------------------------------------------------------------------------------------------------------
           118        Santa Grande Mobile Home Park                        AIG               Column             $2,510,782
     ------------------------------------------------------------------------------------------------------------------------------
           119        301 N. Brand Blvd.                                   AIG               Column             $2,488,166
     ------------------------------------------------------------------------------------------------------------------------------
           123        Sundance Village MHP                                 AIG               Column             $2,337,238
     ------------------------------------------------------------------------------------------------------------------------------
           126        Southwest Storage                                    AIG               Column             $2,285,492
     ------------------------------------------------------------------------------------------------------------------------------
           129        Greenbriar MHP                                       AIG               Column             $2,088,596
     ------------------------------------------------------------------------------------------------------------------------------
           133        327 East 52nd Street                                 AIG               Column             $1,911,864
     ------------------------------------------------------------------------------------------------------------------------------
           134        Naples Place IV                                      AIG               Column             $1,909,093
     ------------------------------------------------------------------------------------------------------------------------------
           136        Kennesaw Promenade                                   AIG               Column             $1,790,714
     ------------------------------------------------------------------------------------------------------------------------------
           137        Lakewood Village - FL                                AIG               Column             $1,781,087
     ------------------------------------------------------------------------------------------------------------------------------
           139        2317-2335 Market Street                              AIG               Column             $1,741,386
     ------------------------------------------------------------------------------------------------------------------------------
           140        Gloucester Apartments                                AIG               Column             $1,740,146
     ------------------------------------------------------------------------------------------------------------------------------
           142        South Michigan Avenue Office Building                AIG               Column             $1,683,691
     ------------------------------------------------------------------------------------------------------------------------------
           145        Anaheim Street Retail Center                         AIG               Column             $1,591,927
     ------------------------------------------------------------------------------------------------------------------------------
           146        Park Street Retail                                   AIG               Column             $1,503,934
     ------------------------------------------------------------------------------------------------------------------------------
           147        Sprinkle Ridge Apartments                            AIG               Column             $1,495,661
     ------------------------------------------------------------------------------------------------------------------------------
           150        Sunny Isle Apartments                                AIG               Column             $1,428,238
     ------------------------------------------------------------------------------------------------------------------------------
           152        Biddeford Apartments                                 AIG               Column             $1,395,537
     ------------------------------------------------------------------------------------------------------------------------------
           153        Mount Vernon Apartments                              AIG               Column             $1,354,408
     ------------------------------------------------------------------------------------------------------------------------------
           154        Cambridge Estates Apts (Phase III)                   AIG               Column             $1,340,793
     ------------------------------------------------------------------------------------------------------------------------------
           155        South Ynez Apartments                                AIG               Column             $1,266,118
     ------------------------------------------------------------------------------------------------------------------------------
           156        Colorado Square / Medlin Place Apartments            AIG               Column             $1,251,298
     ------------------------------------------------------------------------------------------------------------------------------
           157        Country Oaks Mobile Home Park                        AIG               Column             $1,236,637
     ------------------------------------------------------------------------------------------------------------------------------
           160        Grove Apartments                                     AIG               Column             $1,192,279
     ------------------------------------------------------------------------------------------------------------------------------
           161        Greentree Apartments                                 AIG               Column             $1,184,121
     ------------------------------------------------------------------------------------------------------------------------------
           162        Coachlite Apartments                                 AIG               Column             $1,097,792
     ------------------------------------------------------------------------------------------------------------------------------
           164        150 Broad Street                                     AIG               Column               $995,990
     ------------------------------------------------------------------------------------------------------------------------------
           165        Sunset Avenue Apartments                             AIG               Column               $975,676
     ------------------------------------------------------------------------------------------------------------------------------
           166        Classic Village                                      AIG               Column               $970,217
     ------------------------------------------------------------------------------------------------------------------------------
           167        Knox Landing Apartments                              AIG               Column               $945,974
     ------------------------------------------------------------------------------------------------------------------------------
           168        1013 West Linden Street                              AIG               Column               $761,097
     ------------------------------------------------------------------------------------------------------------------------------
           169        Ledgewood Mobile Home Park                           AIG               Column               $756,094
     ------------------------------------------------------------------------------------------------------------------------------
           170        83 Elizabeth Street                                  AIG               Column               $647,579
     ------------------------------------------------------------------------------------------------------------------------------
           171        1235 Elm Street                                      AIG               Column               $520,890
     ------------------------------------------------------------------------------------------------------------------------------
</TABLE>

                                                                P-1Exhibit 4.2

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

             CREDIT SUISSE FIRST BOSTON MORTGAGE SECURITIES CORP.
                                  (Depositor)

                                      and

                            COLUMN FINANCIAL, INC.
                                   (Seller)

                  ------------------------------------------

                       MORTGAGE LOAN PURCHASE AGREEMENT

                        Dated as of September 11, 2003

                  ------------------------------------------

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

<PAGE>

                               TABLE OF CONTENTS

Section 1.     Transactions on or Prior to the Closing Date.............1
Section 2.     Closing Date Actions.....................................1
Section 3.     Conveyance of Mortgage Loans.............................2
Section 4.     Depositor's Conditions to Closing........................7
Section 5.     Seller's Conditions to Closing...........................8
Section 6.     Representations and Warranties of Seller.................9
Section 7.     Obligations of Seller...................................11
Section 8.     Crossed Mortgage Loans..................................14
Section 9.     Rating Agency Fees; Costs and Expenses
                   Associated with a Defeasance........................14
Section 10.    Representations and Warranties of Depositor.............15
Section 11.    Survival of Certain Representations,
                   Warranties and Covenants............................15
Section 12.    Transaction Expenses....................................16
Section 13.    Recording Costs.........................................16
Section 14.    Notices.................................................16
Section 15.    Examination of Mortgage Files...........................16
Section 16.    Successors..............................................16
Section 17.    Governing Law...........................................17
Section 18.    Severability............................................17
Section 19.    Further Assurances......................................17
Section 20.    Counterparts............................................17
Section 21.    Treatment as Security Agreement.........................17
Section 22.    Recordation of Agreement................................18

Schedule I     Schedule of Transaction Terms

Schedule II    Mortgage Loan Schedule for Column Loans

Schedule III   Mortgage Loans Constituting Mortgage Groups

Schedule IV    Mortgage Loans with Lost Mortgage Notes

Schedule V     Exceptions with Respect to Seller's Representations and
               Warranties

Exhibit A      Representations and Warranties of Seller Regarding the
               Mortgage Loans

Exhibit B      Form of Lost Mortgage Note Affidavit

                                      i
<PAGE>

                       MORTGAGE LOAN PURCHASE AGREEMENT

          This Mortgage Loan Purchase Agreement (this "Agreement"), dated as
of September 11, 2003, is made by and between COLUMN FINANCIAL, INC., a
Delaware corporation ("Seller"), and CREDIT SUISSE FIRST BOSTON MORTGAGE
SECURITIES CORP., a Delaware corporation ("Depositor").

                                   RECITALS

          I.  Capitalized terms used herein without definition have the
meanings ascribed to them in the Schedule of Transaction Terms attached hereto
as Schedule I, which is incorporated herein by this reference, or, if not
defined therein, in the Pooling and Servicing Agreement.

          II. On the Closing Date, and on the terms set forth herein, Seller
has agreed to sell to Depositor and Depositor has agreed to purchase from
Seller the mortgage loans identified on the schedule (the "Mortgage Loan
Schedule") annexed hereto as Schedule II (each such mortgage loan, a "Mortgage
Loan" and, collectively, the "Mortgage Loans"). Depositor intends to deposit
the Mortgage Loans and other assets into a trust fund (the "Trust Fund")
created pursuant to the Pooling and Servicing Agreement and to cause the
issuance of the Certificates.

                                   AGREEMENT

          NOW, THEREFORE, on the terms and conditions set forth below and for
good and valuable consideration, the receipt and adequacy of which is hereby
acknowledged, Depositor and Seller agree as follows:

          Section 1. Transactions on or Prior to the Closing Date. On or prior
to the Closing Date, Seller shall have delivered the Mortgage Files with
respect to each Mortgage Loan to Wells Fargo Bank Minnesota, N.A., as trustee
(the "Trustee"), against receipt by Seller of a trust receipt, pursuant to an
arrangement between Seller and the Trustee.

          Section 2. Closing Date Actions. The sale of the Mortgage Loans
shall take place on the Closing Date, subject to and simultaneously with the
deposit of the Mortgage Loans into the Trust Fund, the issuance of the
Certificates and the sale of (a) the Publicly Offered Certificates by
Depositor to the Underwriters pursuant to the Underwriting Agreement and (b)
the Private Certificates by Depositor to the Initial Purchaser pursuant to the
Certificate Purchase Agreement. The closing (the "Closing") shall take place
at the offices of Sidley Austin Brown & Wood LLP, 787 Seventh Avenue, New
York, New York 10019, or such other location as agreed upon between the
parties hereto. On the Closing Date, the following actions shall take place in
sequential order on the terms set forth herein:

          (i) Seller shall sell to Depositor, and Depositor shall purchase
     from Seller, the Mortgage Loans pursuant to this Agreement for the
     Mortgage Loan Purchase Price (as defined herein). The Mortgage Loan
     Purchase Price shall be paid by Depositor to Seller by wire transfer in
     immediately available funds to an account designated by Seller on or
     prior to the Closing Date (or, by such other method as shall be mutually
     acceptable to Depositor and Seller). The "Mortgage Loan Purchase Price"
     paid by Depositor shall be equal to the amount that the Depositor and the
     Seller have mutually agreed upon (which amount includes, without
     limitation, accrued interest).

                                     1
<PAGE>

          (ii) Pursuant to the terms of the Pooling and Servicing Agreement,
     Depositor shall sell all of its right, title and interest in and to the
     Mortgage Loans to the Trustee for the benefit of the Holders of the
     Certificates.

          (iii) Depositor shall sell to the Underwriters, and the Underwriters
     shall purchase from Depositor, the Publicly Offered Certificates pursuant
     to the Underwriting Agreement, and Depositor shall sell to the Initial
     Purchaser, and the Initial Purchaser shall purchase from Depositor, the
     Private Certificates pursuant to the Certificate Purchase Agreement.

          (iv) The Underwriters will offer the Publicly Offered Certificates
     for sale to the public pursuant to the Prospectus and the Prospectus
     Supplement and the Initial Purchaser will privately place certain classes
     of the Private Certificates pursuant to the Offering Circular.

          Section 3. Conveyance of Mortgage Loans. On the Closing Date, Seller
shall sell, convey, assign and transfer, without recourse except as provided
herein, to Depositor, free and clear of any liens, claims or other
encumbrances, all of Seller's right, title and interest in, to and under: (i)
each of the Mortgage Loans identified on the Mortgage Loan Schedule; and (ii)
all property of Seller described in Section 21(b) of this Agreement,
including, without limitation, (A) all scheduled payments of interest and
principal due on or with respect to the Mortgage Loans after the Cut-off Date
and (B) all other payments of interest, principal or yield maintenance charges
received on or with respect to the Mortgage Loans after the Cut-off Date,
other than any such payments of interest or principal or yield maintenance
charges that were due on or prior to the Cut-off Date. The Mortgage File for
each Mortgage Loan shall consist of the following documents:

          (a) each original Note (or with respect to those Mortgage Loans
listed in Schedule IV hereto, a "lost note affidavit" substantially in the
form of Exhibit B hereto and a true and complete copy of the Note), bearing,
or accompanied by, all prior and intervening endorsements or assignments
showing a complete chain of endorsement or assignment from the Mortgage Loan
Originator either in blank or to the Seller, and further endorsed by the
Seller, on its face or by allonge attached thereto, without recourse, in blank
or to the order of the Trustee in the following form: "Pay to the order of
Wells Fargo Bank Minnesota, N.A., as trustee for the registered Holders of
Credit Suisse First Boston Mortgage Securities Corp., Commercial Mortgage
Pass-Through Certificates, Series 2003-C4, without recourse, representation or
warranty, express or implied";

          (b) a duplicate original Mortgage or a counterpart thereof or, if
such Mortgage has been returned by the related recording office, (A) an
original, (B) a certified copy or (C) a copy thereof from the applicable
recording office, and originals or counterparts (or originals or copies of
certified copies from the applicable recording office) of any intervening
assignments thereof from the Mortgage Loan Originator to the Seller, in each
case in the form submitted for recording or, if recorded, with evidence of
recording indicated thereon;

          (c) an original assignment of Mortgage, in recordable form (except
for any missing recording information and, if applicable, completion of the
name of the assignee), from the Seller (or the Mortgage Loan Originator),
either in blank or to "Wells Fargo Bank Minnesota, N.A., as trustee for the
registered Holders of Credit Suisse First Boston Mortgage Securities Corp.,
Commercial Mortgage Pass-Through Certificates, Series 2003-C4";

          (d) an original, counterpart or copy of any related Assignment of
Leases (if such item is a document separate from the Mortgage), and the
originals, counterparts or copies of any intervening

                                     2
<PAGE>

assignments thereof from the Mortgage Loan Originator of the Loan to the
Seller, in each case in the form submitted for recording or, if recorded, with
evidence of recording thereon;

          (e) an original assignment of any related Assignment of Leases (if
such item is a document separate from the Mortgage), in recordable form
(except for any missing recording information and, if applicable, completion
of the name of the assignee), from the Seller (or the Mortgage Loan
Originator), either in blank or to "Wells Fargo Bank Minnesota, N.A., as
trustee for the registered Holders of Credit Suisse First Boston Mortgage
Securities Corp., Commercial Mortgage Pass-Through Certificates, Series
2003-C4";

          (f) an original or true and complete copy of any related Security
Agreement (if such item is a document separate from the Mortgage), and the
originals or copies of any intervening assignments thereof from the Mortgage
Loan Originator to the Seller;

          (g) an original assignment of any related Security Agreement (if
such item is a document separate from the Mortgage), from the Seller (or the
Mortgage Loan Originator), either in blank or to "Wells Fargo Bank Minnesota,
N.A., as trustee for the registered Holders of Credit Suisse First Boston
Mortgage Securities Corp., Commercial Mortgage Pass-Through Certificates,
Series 2003-C4," which assignment may be included as part of an omnibus
assignment covering other documents relating to the Mortgage Loan (provided
that such omnibus assignment is effective under applicable law);

          (h) originals or copies of all (A) assumption agreements, (B)
modifications, (C) written assurance agreements and (D) substitution
agreements, together with any evidence of recording thereon or in the form
submitted for recording, in those instances where the terms or provisions of
the Mortgage, Note or any related security document have been modified or the
Mortgage Loan has been assumed;

          (i) the original lender's title insurance policy or a copy thereof
(together with all endorsements or riders that were issued with or subsequent
to the issuance of such policy), or if the policy has not yet been issued, a
binding written commitment (which may be a pro forma or specimen title
insurance policy which has been accepted or approved in writing by the related
title insurance company) or interim binder that is marked as binding and
countersigned by the title company, insuring the priority of the Mortgage as a
first lien on the related Mortgaged Property, relating to such Mortgage Loan;

          (j) the original or a counterpart of any guaranty of the obligations
of the Borrower under the Mortgage Loan;

          (k) certified or other copies of all UCC Financing Statements and
continuation statements which show the filing or recording thereof or copies
thereof in the form submitted for filing or recording sufficient to perfect
(and maintain the perfection of) the security interest held by the Mortgage
Loan Originator (and each assignee prior to the Trustee) in and to the
personality of the Borrower at the Mortgaged Property that is described in the
related Mortgage or a separate security agreement, and original UCC Financing
Statement assignments in a form suitable for filing or recording, sufficient
to transfer such security interest to the Trustee;

          (l) the original or copy of the power of attorney (with evidence of
recording thereon) granted by the Borrower if the Mortgage, Note or other
document or instrument referred to above was not signed by the Borrower;

                                     3
<PAGE>

          (m) with respect to any debt of a Borrower permitted under the
related Mortgage Loan, an original or copy of a subordination agreement,
standstill agreement or other intercreditor, co-lender or similar agreement
relating to such other debt, if any, including any mezzanine loan documents or
preferred equity documents, and a copy of the promissory note relating to such
other debt (if such other debt is also secured by the related Mortgage);

          (n) with respect to any Cash Collateral Accounts and Lock-Box
Accounts, an original or copy of any related cash collateral control agreement
or lock-box control agreement, as applicable, and a copy of the UCC Financing
Statements, if any, submitted for filing with respect to the Seller's security
interest in the Cash Collateral Accounts and Lock-Box Accounts and all funds
contained therein (together with UCC Financing Statement assignments in a form
suitable for filing or recording, sufficient to transfer such security
interest to the Trustee on behalf of the Certificateholders);

          (o) an original or copy of any related Loan Agreement (if separate
from the related Mortgage), and an original or copy of any related Lock-Box
Agreement or Cash Collateral Agreement (if separate from the related Mortgage
and Loan Agreement);

          (p) the originals of letters of credit, if any, relating to the
Mortgage Loan;

          (q) any related environmental insurance policies and any
environmental guaranty or indemnity agreements or copies thereof; and

          (r) the original ground lease, if any, and any amendments,
modifications or extensions thereto, and any ground lease estoppel, or a copy
of any of the foregoing.

          Notwithstanding the foregoing, in the event that, in connection with
any Mortgage Loan, the Seller cannot deliver, or cause to be delivered, an
original, counterpart or certified copy, as applicable, of any of the
documents and/or instruments required to be delivered pursuant to clauses (b),
(d), (h), (k) (other than assignments of UCC Financing Statements to be
recorded or filed in accordance with the transfer contemplated by this
Agreement), (l) and (n) (other than assignments of UCC Financing Statements to
be recorded or filed in accordance with the transfer contemplated by this
Agreement) above with evidence of recording or filing thereon on the Closing
Date, solely because of a delay caused by the public recording or filing
office where such document or instrument has been delivered for recordation or
filing, the Seller: (i) shall deliver, or cause to be delivered, to the
Trustee a duplicate original or true copy of such document certified by the
applicable public recording or filing office, the applicable title insurance
company or the Seller to be a true and complete duplicate original or copy of
the original thereof submitted for recording or filing; and (ii) shall
deliver, or cause to be delivered, to the Trustee either the original of such
non-delivered document or instrument, or a photocopy thereof (certified by the
appropriate public recording or filing office to be a true and complete copy
of the original thereof submitted for recording or filing), with evidence of
recording or filing thereon, within 120 days of the Closing Date, which period
may be extended up to two times, in each case for an additional period of 45
days (provided that the Seller, as certified in writing to the Trustee prior
to each such 45-day extension, is in good faith attempting to obtain from the
appropriate county recorder's office such original or photocopy). Compliance
with this paragraph will satisfy the Seller's delivery requirements under this
Section 3 with respect to the subject document(s).

          Notwithstanding the foregoing, in the event that, in connection with
any Mortgage Loan, the Seller cannot deliver, or cause to be delivered, an
original, counterpart or certified copy, as applicable, of any of the
documents and/or instruments required to be delivered pursuant to clauses (b),
(d), (h), (k) (other than assignments of UCC Financing Statements to be
recorded or filed other than in

                                     4
<PAGE>

accordance with the transfer contemplated by this Agreement), (l) and (n)
(other than assignments of UCC Financing Statements to be recorded or filed in
accordance with the transfer contemplated by this Agreement) above with
evidence of recording or filing thereon, for any other reason, including
without limitation, that such non-delivered document has been lost, the
delivery requirements of this Agreement shall be deemed to have been satisfied
and such non-delivered document shall be deemed to have been included in the
related Mortgage File if a photocopy of such non-delivered document (with
evidence of recording or filing thereon and certified by the appropriate
recording or filing office to be a true and complete copy of the original
thereof as filed or recorded) is delivered to the Trustee on or before the
Closing Date.

          Notwithstanding the foregoing, in the event that the Seller cannot
deliver any UCC Financing Statement assignment with the filing information of
the related UCC Financing Statement with respect to any Mortgage Loan, solely
because such UCC Financing Statement has not been returned by the public
filing office where such UCC Financing Statement has been delivered for
filing, the Seller shall so notify the Trustee and shall not be in breach of
its obligations with respect to such delivery, provided that the Seller
promptly forwards such UCC Financing Statement to the Trustee upon its return,
together with the related original UCC Financing Statement assignment in a
form appropriate for filing.

          The Seller may, at its sole cost and expense, but is not obligated
to, engage a third party contractor to prepare or complete in proper form for
filing or recording any and all assignments of Mortgage, assignments of
Assignments of Leases and assignments of UCC Financing Statements to the
Trustee to be delivered pursuant to clauses (c), (e), (k) and (n) above
(collectively, the "Assignments"), to submit the Assignments for filing and
recording, as the case may be, in the applicable public filing and recording
offices and to deliver those Assignments to the Trustee or its designee as
those Assignments (or certified copies thereof) are received from the
applicable filing and recording offices with evidence of such filing or
recording indicated thereon. In the event the Seller engages a third party
contractor as contemplated in the immediately preceding sentence, the rights,
duties and obligations of the Seller pursuant to this Agreement remain binding
on such Seller; and, if the Seller does not engage a third party as
contemplated by the immediately preceding sentence, then the Seller will still
be liable for recording and filing fees and expenses of the Assignments as and
to the extent contemplated by Section 13 hereof.

          Within ten (10) Business Days after the Closing Date, the Seller
shall deliver the Servicer Files with respect to each of the Mortgage Loans to
the Master Servicer under the Pooling and Servicing Agreement on behalf of the
Trustee in trust for the benefit of the Certificateholders. Each such Servicer
File shall contain all documents and records in the Seller's possession
relating to such applicable Mortgage Loans (including reserve and escrow
agreements, rent rolls, leases, environmental and engineering reports,
third-party underwriting reports, appraisals, surveys, legal opinions,
estoppels, financial statements and any other information provided by the
respective Borrower from time to time, but excluding any attorney/client
privileged communications and documents prepared by the Seller or any of its
Affiliates solely for internal communication (other than the underwriting
information contained in the related underwriting memorandum or asset summary
report prepared by the Seller in connection with the preparation of Exhibit
A-1 to the Prospectus Supplement)) that are not required to be a part of a
Mortgage File in accordance with the definition thereof, together with copies
of all instruments and documents which are required to be a part of the
related Mortgage File in accordance with the definition thereof.

                                    5
<PAGE>

          In addition, with respect to each Mortgage Loan as to which any
Additional Collateral is in the form of a letter of credit as of the Closing
Date, the Seller shall cause to be prepared, executed and delivered to the
issuer of each such letter of credit such notices, assignments and
acknowledgements as are required under such letter of credit to assign,
without recourse, to, and vest in, the Trustee (whether by actual assignment
or by amendment of the letter of credit) the Seller's rights as the
beneficiary thereof and drawing party thereunder. The designated beneficiary
under each letter of credit referred to in the preceding sentence shall be the
Trustee.

          For purposes of this Section 3, and notwithstanding any contrary
provision hereof or of the definition of "Mortgage File", if there exists with
respect to any group of Crossed Mortgage Loans only one original or certified
copy of any document or instrument described in the definition of "Mortgage
File" which pertains to all of the Crossed Mortgage Loans in such group of
Crossed Mortgage Loans, the inclusion of the original or certified copy of
such document or instrument in the Mortgage File for any of such Crossed
Mortgage Loans and the inclusion of a copy of such original or certified copy
in each of the Mortgage Files for the other Crossed Mortgage Loans in such
group of Crossed Mortgage Loans, shall be deemed the inclusion of such
original or certified copy, as the case may be, in the Mortgage File for each
such Crossed Mortgage Loan.

          The Seller shall, promptly after the Closing Date, but in all events
within three (3) Business Days after the Closing Date, cause all funds on
deposit in escrow accounts maintained with respect to the Mortgage Loans in
the name of the Seller or any other name, to be transferred to the Master
Servicer (or a Sub-Servicer at the direction of the Master Servicer) for
deposit into Servicing Accounts.

          The Trustee, as assignee or transferee of Depositor, shall be
entitled to all scheduled principal payments due after the Cut-off Date, all
other payments of principal due and collected after the Cut-off Date, and all
payments of interest on the Mortgage Loans, minus that portion of any such
payment which is allocable to the period on or prior to the Cut-off Date. All
scheduled payments of principal due on or before the Cut-off Date and
collected after the Cut-off Date, together with the accompanying interest
payments, shall belong to Seller.

          Upon the sale of the Mortgage Loans from Seller to Depositor
pursuant hereto, the ownership of each Mortgage Note, the Mortgage and the
contents of the related Mortgage File shall be vested in Depositor and the
ownership of all records and documents with respect to the related Mortgage
Loan prepared by or which come into the possession of Seller as seller of the
Mortgage Loans hereunder, exclusive in each case of records and documents that
are not required to be delivered hereunder by Seller, shall immediately vest
in Depositor. All Monthly Payments, Principal Prepayments and other amounts
received by Seller and not otherwise belonging to Seller pursuant to this
Agreement shall be sent by Seller within three (3) Business Days after
Seller's receipt thereof to the Master Servicer via wire transfer for deposit
by the Master Servicer into the Collection Account.

          Upon sale of Certificates representing at least 10% of the fair
value of all the Certificates to unaffiliated third parties, Seller shall,
under generally accepted accounting principles ("GAAP"), report its transfer
of the Mortgage Loans to the Depositor, as provided herein, as a sale of the
Mortgage Loans to the Depositor in exchange for the consideration specified in
Section 2 hereof. In connection with the foregoing, upon sale of Certificates
representing at least 10% of the fair value of all the Certificates to
unaffiliated third parties, Seller shall cause all of its financial and
accounting records to reflect such transfer as a sale (as opposed to a secured
loan). Regardless of its treatment of the transfer of the Mortgage Loans to
the Depositor under GAAP, Seller shall at all times following the Closing

                                    6
<PAGE>

Date cause all of its records and financial statements and any relevant
consolidated financial statements of any direct or indirect parent to clearly
reflect that the Mortgage Loans have been transferred to the Depositor and are
no longer available to satisfy claims of Seller's creditors.

          After Seller's transfer of the Mortgage Loans to Depositor, as
provided herein, Seller shall not take any action inconsistent with
Depositor's ownership (or the ownership by any of the Depositor's assignees)
of the Mortgage Loans. Except for actions that are the express responsibility
of another party hereunder or under the Pooling and Servicing Agreement, and
further except for actions that Seller is expressly permitted to complete
subsequent to the Closing Date, Seller shall, on or before the Closing Date,
take all actions required under applicable law to effectuate the transfer of
the Mortgage Loans by Seller to Depositor.

          Section 4. Depositor's Conditions to Closing. The obligations of
Depositor to purchase the Mortgage Loans and pay the Mortgage Loan Purchase
Price at the Closing Date under the terms of this Agreement are subject to the
satisfaction of each of the following conditions at or before the Closing:

          (a) Each of the obligations of the Seller required to be performed
by it on or prior to the Closing Date pursuant to the terms of this Agreement
shall have been duly performed and complied with in all material respects; all
of the representations and warranties of Seller under this Agreement shall be
true and correct in all material respects as of the Closing Date; and no event
shall have occurred with respect to the Seller or any of the Mortgage Loans
and related Mortgage Files which, with notice or the passage of time, would
constitute a material default under this Agreement; and Depositor shall have
received certificates to the foregoing effect signed by authorized officers of
Seller.

          (b) Depositor, or if directed by Depositor, the Trustee or the
Depositor's attorneys, shall have received in escrow, all of the following
closing documents, in such forms as are agreed upon and reasonably acceptable
to the Depositor and the Seller, duly executed by all signatories other than
Depositor, as required pursuant to the respective terms thereof:

          (i) the Mortgage Files, subject to the proviso to the first sentence
     of Section 1 of this Agreement, which shall have been delivered
     to and held by the Trustee on behalf of Seller;

          (ii) the Mortgage Loan Schedule;

          (iii) the certificate of the Seller confirming its representations
     and warranties set forth in Section 6 as of the Closing Date;

          (iv) an opinion or opinions of Seller's counsel, dated the Closing
     Date, covering various corporate matters and such other matters as shall
     be reasonably required by the Depositor;

          (v) such other certificates of Seller's officers or others and such
     other documents to evidence fulfillment of the conditions set forth in
     this Agreement as Depositor or its counsel may reasonably request; and

          (vi) all other information, documents, certificates, or letters with
     respect to the Mortgage Loans or Seller and its Affiliates as are
     reasonably requested by the Depositor in order for the Depositor to
     perform any of it obligations or satisfy any of the conditions on its
     part to be

                                      7
<PAGE>

     performed or satisfied pursuant to any sale of Mortgage Loans
     by the Depositor as contemplated herein.

          (c) The Seller shall have performed or complied with all other terms
and conditions of this Agreement which it is required to perform or comply
with at or before the Closing and shall have the ability to perform or comply
with all duties, obligations, provisions and terms which it is required to
perform or comply with after the Closing.

          (d) The Seller shall have delivered to the Trustee, on or before the
Closing Date, five limited powers of attorney in favor of the Trustee and
Special Servicer empowering the Trustee and, in the event of the failure or
incapacity of the Trustee, the Special Servicer, to record, at the expense of
the Seller, any Mortgage Loan Documents required to be recorded and any
intervening assignments with evidence of recording thereon that are required
to be included in the Mortgage Files. The Seller shall reasonably cooperate
with the Trustee and the Special Servicer in connection with any additional
powers of attorney or revisions thereto that are requested by such parties.

          Section 5. Seller's Conditions to Closing. The obligations of Seller
under this Agreement shall be subject to the satisfaction, on the Closing
Date, of the following conditions:

          (a) Each of the obligations of Depositor required to be performed by
it on or prior to the Closing Date pursuant to the terms of this Agreement
shall have been duly performed and complied with in all material respects; and
all of the representations and warranties of Depositor under this Agreement
shall be true and correct in all material respects as of the Closing Date; and
no event shall have occurred with respect to Depositor which, with notice or
the passage of time, would constitute a material default under this Agreement,
and Seller shall have received certificates to that effect signed by
authorized officers of Depositor.

          (b) Seller shall have received all of the following closing
documents, in such forms as are agreed upon and reasonably acceptable to
Seller and Depositor, duly executed by all signatories other than Seller, as
required pursuant to the respective terms thereof:

               (A) an officer's certificate of Depositor, dated as of the
          Closing Date, with the resolutions of Depositor authorizing the
          transactions set forth therein, together with copies of the charter,
          by-laws and certificate of good standing dated as of a recent date
          of Depositor; and

               (B) such other certificates of its officers or others, such
          opinions of Depositor's counsel and such other documents required to
          evidence fulfillment of the conditions set forth in this Agreement
          as Seller or its counsel may reasonably request.

          (c) The Depositor shall have performed or complied with all other
terms and conditions of this Agreement which it is required to perform or
comply with at or before the Closing and shall have the ability to perform or
comply with all duties, obligations, provisions and terms which it is required
to perform or comply with after Closing.

                                      8
<PAGE>

          Section 6. Representations and Warranties of Seller.

          (a) Seller represents and warrants to Depositor as of the date
hereof, as follows:

               (i) Seller is duly organized and is validly existing as a
          corporation in good standing under the laws of the State of
          Delaware. Seller has conducted and is conducting its business so as
          to comply in all material respects with all applicable statutes and
          regulations of regulatory bodies or agencies having jurisdiction
          over it, except where the failure so to comply would not have a
          materially adverse effect on the performance by Seller of this
          Agreement, and there is no charge, investigation, action, suit or
          proceeding before or by any court, regulatory authority or
          governmental agency or body pending or, to the knowledge of Seller,
          threatened, which is reasonably likely to materially and adversely
          affect the performance by Seller of this Agreement or the
          consummation of transactions contemplated by this Agreement.

               (ii) Seller has the full power, authority and legal right to
          hold, transfer and convey the Mortgage Loans owned by it and to
          execute and deliver this Agreement (and all agreements and documents
          executed and delivered by Seller in connection herewith) and to
          perform all transactions of Seller contemplated by this Agreement
          (and all agreements and documents executed and delivered by Seller
          in connection herewith). Seller has duly authorized the execution,
          delivery and performance of this Agreement (and all agreements and
          documents executed and delivered by Seller in connection herewith),
          and has duly executed and delivered this Agreement (and all
          agreements and documents executed and delivered by Seller in
          connection herewith). This Agreement (and each agreement and
          document executed and delivered by Seller in connection herewith),
          assuming due authorization, execution and delivery thereof by each
          other party thereto, constitutes the legal, valid and binding
          obligation of Seller enforceable in accordance with its terms,
          except as such enforcement may be limited by bankruptcy, fraudulent
          transfer, insolvency, reorganization, receivership, moratorium or
          other laws relating to or affecting the rights of creditors
          generally, by general principles of equity (regardless of whether
          such enforcement is considered in a proceeding in equity or at law)
          and by considerations of public policy.

               (iii) Neither the execution, delivery and performance of this
          Agreement, nor the fulfillment of or compliance with the terms and
          conditions of this Agreement by Seller, will (A) conflict with or
          result in a breach of any of the terms, conditions or provisions of
          Seller's organizational documents; (B) conflict with, result in a
          breach of, or constitute a default or result in an acceleration
          under, any agreement or instrument to which Seller is now a party or
          by which it (or any of its properties) is bound if compliance
          therewith is necessary (1) to ensure the enforceability of this
          Agreement or (2) for Seller to perform its duties and obligations
          under this Agreement (or any agreement or document executed and
          delivered by Seller in connection herewith); (C) conflict with or
          result in a breach of any legal restriction if compliance therewith
          is necessary (1) to ensure the enforceability of this Agreement or
          (2) for Seller to perform its duties and obligations under this
          Agreement (or any agreement or document executed and delivered by
          Seller in connection herewith); (D) result in the violation of any
          law, rule, regulation, order, judgment or decree to which Seller or
          its property is subject if compliance therewith is necessary (1) to
          ensure the enforceability of this Agreement or (2) for Seller to
          perform its duties and obligations under this Agreement (or any
          agreement or document executed and delivered by Seller in connection
          herewith); or (E) result in the creation or imposition of any lien,
          charge or encumbrance that would have a material adverse effect upon
          Seller's ability to perform its duties and obligations under this
          Agreement (or any agreement or document executed

                                      9
<PAGE>

          and delivered by Seller in connection herewith), or materially
          impair the ability of the Depositor to realize on the Mortgage Loans
          owned by Seller.

               (iv) Seller is solvent and the sale of Mortgage Loans (1) will
          not cause Seller to become insolvent and (2) is not intended by
          Seller to hinder, delay or defraud any of its present or future
          creditors. After giving effect to its transfer of the Mortgage
          Loans, as provided herein, the value of Seller's assets, either
          taken at their present fair saleable value or at fair valuation,
          will exceed the amount of Seller's debts and obligations, including
          contingent and unliquidated debts and obligations of Seller, and
          Seller will not be left with unreasonably small assets or capital
          with which to engage in and conduct its business. Seller does not
          intend to, and does not believe that it will, incur debts or
          obligations beyond its ability to pay such debts and obligations as
          they mature. No proceedings looking toward liquidation, dissolution
          or bankruptcy of the Seller are pending or contemplated.

               (v) No consent, approval, authorization or order of, or
          registration or filing with, or notice to, any court or governmental
          agency or body having jurisdiction or regulatory authority over
          Seller is required for (A) Seller's execution, delivery and
          performance of this Agreement (or any agreement or document executed
          and delivered by Seller in connection herewith), (B) Seller's
          transfer and assignment of the Mortgage Loans, or (C) the
          consummation by Seller of the transactions contemplated by this
          Agreement (or any agreement or document executed and delivered by
          Seller in connection herewith) or, to the extent so required, such
          consent, approval, authorization, order, registration, filing or
          notice has been obtained, made or given (as applicable), except that
          Seller may not be duly qualified to transact business as a foreign
          corporation or licensed in one or more states if such qualification
          or licensing is not necessary to ensure the enforceability of this
          Agreement (or any agreement or document executed and delivered by
          Seller in connection herewith).

               (vi) In connection with its sale of the Mortgage Loans, Seller
          is receiving new value. The consideration received by Seller upon
          the sale of the Mortgage Loans owned by it constitutes at least fair
          consideration and reasonably equivalent value for the Mortgage
          Loans.

               (vii) Seller does not believe, nor does it have any reason or
          cause to believe, that it cannot perform each and every covenant of
          Seller contained in this Agreement (or any agreement or document
          executed and delivered by Seller in connection herewith).

               (viii) There are no actions, suits proceedings pending or to
          Seller's knowledge threatened in writing against Seller which are
          reasonably likely to draw into question the validity of this
          Agreement (or any agreement or document executed and delivered by
          Seller in connection herewith) or which, either in any one instance
          or in the aggregate, are reasonably likely to materially impair the
          ability of Seller to perform its duties and obligations under this
          Agreement (or any agreement or document executed and delivered by
          Seller in connection herewith).

               (ix) Seller's performance of its duties and obligations under
          this Agreement (and each agreement or document executed and
          delivered by Seller in connection herewith) is in the ordinary
          course of business of Seller and Seller's transfer, assignment and
          conveyance of the Mortgage Loans pursuant to this Agreement are not
          subject to the bulk transfer or similar statutory provisions in
          effect in any applicable jurisdiction. The Mortgage Loans do not
          constitute all or substantially all of Seller's assets.

                                      10
<PAGE>

               (x) Seller has not dealt with any Person that may be entitled,
          by reason of any act or omission of Seller, to any commission or
          compensation in connection with the sale of the Mortgage Loans to
          the Depositor hereunder except for (A) the reimbursement of expenses
          as described herein or otherwise in connection with the transactions
          described in Section 2 hereof and (B) the commissions or
          compensation owed to the Underwriters or the Initial Purchaser.

               (xi) Seller is not in default or breach of any agreement or
          instrument to which Seller is now a party or by which it (or any of
          its properties) is bound which breach or default would materially
          and adversely affect the ability of Seller to perform its
          obligations under this Agreement.

               (xii) The representations and warranties contained in Exhibit A
          hereto, subject to the exceptions to such representations and
          warranties set forth on Schedule V hereto, are true and correct in
          all material respects as of the date hereof with respect to the
          Mortgage Loans identified on Schedule II.

          (b) The Seller hereby agrees that it shall be deemed to make, as of
the date of substitution, to and for the benefit of the holder of the Mortgage
Loan to be replaced, with respect to any replacement mortgage loan (a
"Replacement Mortgage Loan") that is substituted for a Mortgage Loan affected
by a Material Defect or a Material Breach, pursuant to Section 7 of this
Agreement, each of the representations and warranties set forth in Exhibit A
hereto (references therein to "Closing Date" being deemed to be references to
the "date of substitution" and references therein to "Cut-off Date" being
deemed to be references to the "most recent due date for the subject
Replacement Mortgage Loan on or before the date of substitution"). From and
after the date of substitution, each Replacement Mortgage Loan, if any, shall
be deemed to constitute a "Mortgage Loan" hereunder for all purposes.

          Section 7. Obligations of Seller. Each of the representations and
warranties contained in or required to be made by Seller pursuant to Section 6
of this Agreement shall survive the sale of the Mortgage Loans and shall
continue in full force and effect, notwithstanding any restrictive or
qualified endorsement on the Notes and notwithstanding subsequent termination
of this Agreement or the Pooling and Servicing Agreement. The representations
and warranties contained in or required to be made by Seller pursuant to
Section 6 of this Agreement shall not be impaired by any review or examination
of the Mortgage Files or other documents evidencing or relating to the
Mortgage Loans or any failure on the part of Depositor to review or examine
such documents and shall inure to the benefit of the initial transferee of the
Mortgage Loans from Depositor including, without limitation, the Trustee for
the benefit of the Holders of the Certificates, notwithstanding any
restrictive or qualified endorsement on any Note, assignment of Mortgage or
reassignment of Assignment of Leases but shall not inure to the benefit of any
subsequent transferee thereafter.

          If the Seller receives notice of a breach of any of the
representations or warranties contained in Exhibit A hereto and made by the
Seller with respect to the Mortgage Loans listed on Schedule II hereto, as of
the date hereof in Section 6(a)(xii) or as of the Closing Date pursuant to
Section 4(b)(iii), or with respect to any Replacement Mortgage Loan, as of the
date of substitution pursuant to Section 6(b) (in any such case, a "Breach"),
or receives notice that (A) any document required to be included in the
Mortgage File related to any Mortgage Loan is not in the Trustee's possession
within the time period required herein or (B) such document has not been
properly executed or is otherwise defective on its face (the circumstances in
the foregoing clauses (A) and (B), in each case, a "Defect" (including the
"Defects" described below) in the related Mortgage File), and if such Breach
or Defect, as the case may be, materially and adversely affects the value of
any Mortgage Loan or the interests of the

                                      11
<PAGE>

Certificateholders therein (any Breach or Defect that materially and adversely
affects the value of any Mortgage Loan or the interests of the
Certificateholders therein, a "Material Breach" and a "Material Defect",
respectively), then the Seller shall, upon request of the Depositor, the
Trustee, the Master Servicer or the Special Servicer, not later than the
earlier of 90 days from the receipt by the Seller of such request (subject to
the second succeeding paragraph, the "Initial Resolution Period"): (i) cure
such Breach or Defect in all material respects; (ii) repurchase the affected
Mortgage Loan at the applicable Purchase Price (as defined in the Pooling and
Servicing Agreement); or (iii) substitute, in accordance with the Pooling and
Servicing Agreement, one or more Qualified Substitute Mortgage Loans (as
defined in the Pooling and Servicing Agreement) for such affected Mortgage
Loan (provided that in no event shall any substitution occur later than the
second anniversary of the Closing Date, and provided, further, that the Seller
may not substitute for the Mayfair Mall Trust Mortgage Loan) and pay the
Master Servicer for deposit into the Collection Account any Substitution
Shortfall Amount (as defined in the Pooling and Servicing Agreement) in
connection therewith; provided, however, that if (i) such Material Breach or
Material Defect is capable of being cured but not within the Initial
Resolution Period, (ii) such Material Breach or Material Defect does not cause
the related Mortgage Loan not to be a "qualified mortgage" (within the meaning
of Section 860G(a)(3) of the Code), (iii) the Seller has commenced and is
diligently proceeding with the cure of such Material Breach or Material Defect
within the Initial Resolution Period and (iv) the Seller has delivered to the
Rating Agencies, the Master Servicer and the Trustee an Officer's Certificate
that describes the reasons that the cure was not effected within the Initial
Resolution Period and the actions that it proposes to take to effect the cure
and that states that it anticipates the cure will be effected within the
additional 90-day period, then the Seller shall have an additional 90 days to
cure such material Defect or material Breach. With respect to any substitution
of one or more Qualified Substitute Mortgage Loans for a Mortgage Loan
hereunder, (A) no such substitution may be made in any calendar month after
the Determination Date for such month; (B) scheduled payments of principal and
interest due with respect to the Qualified Substitute Mortgage Loan(s) after
the related date of substitution shall be part of the Trust Fund; and (C)
scheduled payments of principal and interest due with respect to such
Qualified Substitute Mortgage Loan(s) on or prior to the related date of
substitution shall not be part of the Trust Fund, and the Seller shall be
entitled to receive such payments promptly following receipt by the Master
Servicer or Special Servicer, as applicable, under the Pooling and Servicing
Agreement.

          Any of the following will cause a document in the Mortgage File to
be deemed to have a "Defect" and to be conclusively presumed to materially and
adversely affect the interests of Certificateholders in and the value of a
Mortgage Loan: (a) the absence from the Mortgage File of the original signed
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 certified copy of
the Mortgage as recorded or as sent for recordation, together with a
certificate stating that the original signed Mortgage was sent for
recordation, or a copy of the Mortgage and the related recording information;
(c) the absence from the Mortgage File of the item called for by clause (i) of
the definition of Mortgage File in Section 3; (d) the absence from the
Mortgage File of any intervening assignments required to create an effective
assignment to the Trustee on behalf of the Trust, unless there is included in
the Mortgage File a certified copy of the intervening assignment and a
certificate stating that the original intervening assignments were sent for
recordation; or (e) the absence from the Servicer File of any required
original letter of credit (as required in the proviso to Section 1 hereof),
provided that such Defect may be cured by any substitute letter of credit or
cash reserve on behalf of the related Borrower; or (f) the absence from the
Mortgage File of the original or a copy of any required ground lease.

                                      12
<PAGE>

          Any Defect or Breach which causes any Mortgage Loan not to be a
"qualified mortgage" (within the meaning of Section 860G(a)(3) of the Code)
shall be deemed to materially and adversely affect the interest of
Certificateholders therein and the Initial Resolution Period for the affected
Mortgage Loan shall be 90 days following the earlier of the discovery of such
Defect or Breach by any party to the Pooling and Servicing Agreement (so long
as Seller received prompt notice thereof pursuant to this Section 7) or
Seller's discovery of such Defect or Breach (which period shall not be subject
to extension).

          If the Seller does not, as required by this Section 7, correct or
cure a Material Breach or a Material Defect in all material respects within
the applicable Initial Resolution Period (as extended pursuant to this Section
7), or if such Breach or Defect is not capable of being so corrected or cured
with such period, then the Seller shall purchase or substitute for the
affected Mortgage Loan as provided in this Section 7. If (i) any Mortgage Loan
is required to be repurchased or substituted for as provided above, (ii) such
Mortgage Loan is a Crossed Mortgage Loan that is a part of a Mortgage Group
(as defined below) and (iii) the applicable Breach or Defect does not
constitute a Breach or Defect, as the case may be, as to any other Crossed
Mortgage Loan in such Mortgage Group (without regard to this paragraph), then
the applicable Breach or Defect, as the case may be, will be deemed to
constitute a Breach or Defect, as the case may be, as to any other Crossed
Mortgage Loan in the Mortgage Group for purposes of the above provisions, and
the Seller will be required to repurchase or substitute for such other Crossed
Mortgage Loan(s) in the related Mortgage Group in accordance with the
provisions of this Section 7 unless the Crossed Mortgage Loan Repurchase
Criteria would be satisfied if Seller were to repurchase or substitute for
only the affected Crossed Mortgage Loans as to which a Material Breach or
Material Defect had occurred without regard to this paragraph, and in the case
of either such repurchase or substitution, all of the other requirements set
forth in the Pooling and Servicing Agreement applicable to a repurchase or
substitution, as the case may be, would be so satisfied. In the event that the
Crossed Mortgage Loan Repurchase Criteria would be so satisfied, the Mortgage
Loan Seller may elect either to repurchase or substitute for only the affected
Crossed Mortgage Loan as to which the Material Defect or Material Breach
exists or to repurchase or substitute for the aggregated Crossed Mortgage
Loans. The determination of the Special Servicer as to whether the Crossed
Mortgage Loan Repurchase Criteria have been satisfied shall be conclusive and
binding in the absence of manifest error. In the event that one or more of
such other Crossed Mortgage Loans satisfy the Crossed Loan Repurchase
Criteria, the Seller may elect either to repurchase or substitute for only the
affected Crossed Mortgage Loan as to which the related Breach or Defect exists
or to repurchase or substitute for all of the Crossed Mortgage Loans in the
related Mortgage Group. The Seller shall be responsible for the cost of (and,
if so directed by the Special Servicer, obtaining) any Appraisal required for
the Special Servicer to determine if the Crossed Loan Repurchase Criteria have
been satisfied, so long as the scope and cost of such Appraisal has been
approved by the Seller (such approval not to be unreasonably withheld). For
purposes of this paragraph, a "Mortgage Group" is any group of Mortgage Loans
identified as a Mortgage Group on Schedule III to this Agreement.

          Notwithstanding the foregoing, if there is a Material Breach or
Material Defect with respect to one or more Mortgaged Properties (but not all
of the Mortgaged Properties) with respect to a Mortgage Loan, the Seller will
not be obligated to repurchase or substitute for the Mortgage Loan if the
affected Mortgaged Property may be released pursuant to the terms of any
partial release provisions in the related Mortgage Loan Documents and the
remaining Mortgaged Property(ies) satisfy the requirements, if any, set forth
in the Mortgage Loan Documents and (i) the Seller provides an opinion of
counsel to the effect that such partial release would not cause an Adverse
REMIC Event (as defined in the Pooling and Servicing Agreement) to occur, (ii)
such Seller pays (or causes to be paid) the applicable release price required
under the Mortgage Loan Documents and, to the extent not reimbursable out of

                                      13
<PAGE>

the release price pursuant to the related Mortgage Loan Documents, any
additional amounts necessary to cover all reasonable out-of-pocket expenses
reasonably incurred by the Master Servicer, the Special Servicer, the Trustee
or the Trust Fund in connection therewith, including any unreimbursed advances
and interest thereon made with respect to the Mortgaged Property that is being
released, and (iii) such cure by release of such Mortgaged Property is
effected within the time periods specified for cure of a Material Breach or
Material Defect in this Section 7.

          The Purchase Price or Substitution Shortfall Amount for any
repurchased or substituted Mortgage Loan shall be payable to the Depositor or,
subsequent to the assignment of the Mortgage Loans to the Trustee, the Trustee
as its assignee, by wire transfer of immediately available funds to the
account designated by the Depositor or the Trustee, as the case may be, and
the Depositor or the Trustee, as the case may be, upon receipt of such funds
(and, in the case of a substitution, the Mortgage File(s) for the related
Qualified Substitute Mortgage Loans), shall promptly release the related
Mortgage File and Servicer File or cause them to be released, to Seller and
shall execute and deliver such instruments of transfer or assignment as shall
be necessary to vest in the Seller the legal and beneficial ownership of such
Mortgage Loan (including any property acquired in respect thereof or proceeds
of any insurance policy with respect thereto) and the related Mortgage Loan
Documents.

          It is understood and agreed that the obligations of the Seller set
forth in this Section 7 to cure, substitute for or repurchase a Mortgage Loan
listed on Schedule II hereto constitute the sole remedies available to the
Depositor and its successors and assigns against Seller respecting any Breach
or Defect affecting such Mortgage Loan.

          If the Mayfair Mall Trust Mortgage Loan is to be repurchased by
reason of a Material Breach or a Material Defect with respect thereto, the
Seller shall reimburse the Master Servicer, the Special Servicer, the Trustee
and the Depositor for any amounts due and owing to them with respect to the
Mayfair Mall Non-Trust Companion Loans under the Pooling and Servicing
Agreement (to the extent that such amounts are not otherwise included as part
of the Purchase Price and would otherwise have been payable out of future
collections on the Mayfair Mall Non-Trust Companion Loans).

          Section 8. Crossed Mortgage Loans. With respect to any Crossed
Mortgage Loan conveyed hereunder, to the extent that the Seller repurchases or
substitutes for an affected Crossed Mortgage Loan in the manner prescribed
above while the Trustee continues to hold any related Crossed Mortgage Loans,
the Seller and the Depositor (on behalf of its successors and assigns) agree
to modify upon such repurchase or substitution, the related Mortgage Loan
Documents in a manner such that such affected Crossed Mortgage Loan
repurchased or substituted by the Seller, on the one hand, and any related
Crossed Mortgage Loans still held by the Trustee, on the other, would no
longer be cross-defaulted or cross-collateralized with one another; provided,
that the Seller shall have furnished to the Trustee, at the Seller's expense,
an opinion of counsel that such modification shall not cause an Adverse REMIC
Event; provided, further, that if such opinion cannot be furnished, the Seller
and the Depositor hereby agree that such repurchase or substitution of only
the affected Crossed Mortgage Loans, notwithstanding anything to the contrary
herein, shall not be permitted. Any reserve or other cash collateral or
letters of credit securing the affected Crossed Mortgage Loans shall be
allocated between such Mortgage Loans in accordance with the Mortgage Loan
Documents. All other terms of the Mortgage Loans shall remain in full force
and effect, without any modification thereof.

          Section 9. Rating Agency Fees; Costs and Expenses Associated with a
Defeasance. The Seller shall pay all Rating Agency fees associated with an
assumption of a Mortgage Loan to the extent such fees have not been paid by
the related Borrower and such Borrower is not required to pay

                                      14
<PAGE>

them under the terms of the related Mortgage Loan Documents in effect on or
before the Closing Date. The Seller shall pay all reasonable costs and
expenses associated with a defeasance of a Mortgage Loan to the extent such
costs and expenses have not been paid by the related Borrower and such
Borrower is not required to pay them under the terms of the related Mortgage
Loan Documents in effect on or before the Closing Date.

          Section 10. Representations and Warranties of Depositor. Depositor
hereby represents and warrants to Seller as of the date hereof, as follows:

          (a) Depositor is duly organized and is validly existing as a
corporation in good standing under the laws of the State of Delaware, with
full corporate power and authority to own its assets and conduct its business
as it is conducted, and is duly qualified as a foreign corporation in good
standing in all jurisdictions in which the ownership or lease of its property
or the conduct of its business requires such qualification (except where the
failure to qualify would not have a materially adverse effect on the
consummation of any transactions contemplated by this Agreement).

          (b) The execution and delivery by Depositor of this Agreement and
the performance of Depositor's obligations hereunder are within the corporate
power of Depositor and have been duly authorized by Depositor and neither the
execution and delivery by Depositor of this Agreement nor the compliance by
Depositor with the provisions hereof, nor the consummation by Depositor of the
transactions contemplated by this Agreement, will (i) conflict with or result
in a breach of, or constitute a default under, the certificate of
incorporation or by-laws of Depositor or, after giving effect to the consents
or taking of the actions contemplated by clause (ii) of this paragraph (b),
any of the provisions of any law, governmental rule, regulation, judgment,
decree or order binding on Depositor or its properties, or any of the
provisions of any material indenture or mortgage or any other material
contract or other instrument to which Depositor is a party or by which it is
bound or result in the creation or imposition of any lien, charge or
encumbrance upon any of its properties pursuant to the terms of any such
indenture, mortgage, contract or other instrument or (ii) require the consent
of, notice to or any filing with any person, entity or governmental body,
which has not been obtained or made by Depositor, except where, in any of the
instances contemplated by clause (i) above or this clause (ii), the failure to
do so will not have a material and adverse effect on the consummation of any
transactions contemplated by this Agreement.

          (c) This Agreement has been duly executed and delivered by Depositor
and this Agreement constitutes a legal, valid and binding instrument,
enforceable against Depositor in accordance with its terms, subject, as to the
enforcement of remedies, to applicable bankruptcy, reorganization, insolvency,
moratorium and other laws affecting the rights of creditors generally and to
general principles of equity and the discretion of the court (regardless of
whether enforcement of such remedies is considered in a proceeding in equity
or at law) and, as to rights of indemnification hereunder, subject to
limitations of public policy under applicable securities laws.

          (d) There is no litigation, charge, investigation, action, suit or
proceeding by or before any court, regulatory authority or governmental agency
or body pending or, to the knowledge of Depositor, threatened against
Depositor the outcome of which could be reasonably expected to materially and
adversely affect the consummation of any transactions contemplated by this
Agreement.

          Section 11. Survival of Certain Representations, Warranties and
Covenants. The respective representations and warranties set forth in or made
pursuant to this Agreement, and the respective obligations of the parties
hereto under Sections 7 and 9 of this Agreement, will remain in full force and
effect, regardless of any investigation or statement as to the result thereof
made by or on

                                      15
<PAGE>

behalf of any party and will survive payment for the various transfers
referred to herein and delivery of the Certificates or termination of this
Agreement.

          Section 12. Transaction Expenses. Whether or not this Agreement is
terminated, both the Purchaser and the Seller agree to pay the transaction
expenses incurred in connection with the transactions herein contemplated as
set forth in the Closing Statement.

          Section 13. Recording Costs. Seller agrees to reimburse the Trustee
or its designee all recording and filing fees and expenses incurred by the
Trustee or its designee in connection with the recording or filing of the
Mortgage Loan Documents listed in Section 3 of this Agreement, including
Assignments. In the event Seller elects to engage a third party contractor to
prepare, complete, file and record Assignments with respect to Mortgage Loans
as provided in Section 3 of this Agreement, Seller shall contract directly
with such contractor and shall be responsible for such contractor's
compensation and reimbursement of recording and filing fees and other
reimbursable expenses pursuant to their agreement.

          Section 14. Notices. All demands, notices and communications
hereunder shall be in writing and shall be deemed to have been duly given if
personally delivered to or mailed, by registered mail, postage prepaid, by
overnight mail or courier service, or transmitted by facsimile and confirmed
by similar mailed writing, if to the Purchaser, addressed to the Purchaser at
11 Madison Avenue, 5th Floor, New York, New York 10010, Attention: Edmund
Taylor, Telecopy No.: (212) 743-4756 (with a copy to Tessa Peters, Telecopy
No.: (917) 326-7980), or such other address as may be designated by the
Purchaser to the Seller in writing, or, if to the Seller, addressed to the
Seller at 3414 Peachtree Road, N.E., Suite 1140, Atlanta, Georgia 30326,
Attention: Robert Barnes, Telecopy No.: (404) 261-5879, or such other address
as may be designated by the Seller to the Purchaser in writing.

          Section 15. Examination of Mortgage Files. Upon reasonable notice,
Seller, prior to the Closing Date, will make the Mortgage Files available to
Depositor or its agent for examination during normal business hours at
Seller's offices or such other location as shall otherwise be agreed upon by
Depositor and Seller. The fact that Depositor or its agent has conducted or
has failed to conduct any partial or complete examination of the Mortgage
Files shall not affect the rights of Depositor or the Trustee (for the benefit
of the Certificateholders) to demand cure, repurchase, or other relief as
provided herein.

          Section 16. Successors. This Agreement shall inure to the benefit of
and shall be binding upon Seller and Depositor and their respective
successors, permitted assigns and legal representatives, and nothing expressed
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;
it being understood that (a) the indemnities of Seller contained in that
certain Mortgage Loan Seller Indemnification Agreement dated September 11,
2003 among Seller, Depositor, Credit Suisse First Boston LLC (on behalf of
itself and the other Underwriters) and the Initial Purchaser, subject to all
limitations therein contained, shall also be for the benefit of the officers
and directors of Depositor, the Underwriters and the Initial Purchaser and any
person or persons who control Depositor, the Underwriters and the Initial
Purchaser within the meaning of Section 15 of the Securities Act or Section 20
of the 1934 Act, and (b) the rights of Depositor pursuant to this Agreement,
subject to all limitations herein contained, including those set forth in
Section 7 of this Agreement, may be assigned to the Trustee, for benefit of
the Certificateholders, as may be required to effect the purposes of the
Pooling

                                      16
<PAGE>

and Servicing Agreement and, upon such assignment, the Trustee shall succeed
to such rights of Depositor hereunder, provided that the Trustee shall have no
right to further assign such rights to any other Person. No owner of a
Certificate issued pursuant to the Pooling and Servicing Agreement shall be
deemed a successor because of such ownership.

          Section 17. Governing Law. THIS AGREEMENT SHALL BE GOVERNED AND
CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK APPLICABLE TO
AGREEMENTS TO BE MADE AND PERFORMED ENTIRELY WITHIN SUCH STATE WITHOUT GIVING
EFFECT TO CHOICE OF LAW PRINCIPLES. TO THE FULLEST EXTENT PERMITTED UNDER
APPLICABLE LAW, THE SELLER AND THE DEPOSITOR EACH HEREBY IRREVOCABLY (I)
SUBMITS TO THE JURISDICTION OF ANY NEW YORK STATE AND FEDERAL COURTS SITTING
IN NEW YORK CITY WITH RESPECT TO MATTERS ARISING OUT OF OR RELATING TO THIS
AGREEMENT; (II) AGREES THAT ALL CLAIMS WITH RESPECT TO SUCH ACTION OR
PROCEEDING MAY BE HEARD AND DETERMINED IN SUCH NEW YORK STATE OR FEDERAL
COURTS; (III) WAIVES, TO THE FULLEST POSSIBLE EXTENT, THE DEFENSE OF AN
INCONVENIENT FORUM; AND (IV) AGREES THAT A FINAL JUDGMENT IN ANY SUCH ACTION
OR PROCEEDING SHALL BE CONCLUSIVE AND MAY BE ENFORCED IN OTHER JURISDICTIONS
BY SUIT ON THE JUDGMENT OR IN ANY OTHER MANNER PROVIDED BY LAW.

          Section 18. Severability. If any provision of this Agreement shall
be prohibited or invalid under applicable law, this Agreement shall be
ineffective only to such extent, without invalidating the remainder of this
Agreement.

          Section 19. Further Assurances. Depositor and Seller agree to
execute and deliver such instruments and take such actions as the other
parties may, from time to time, reasonably request in order to effectuate the
purpose and to carry out the terms of this Agreement.

          Section 20. Counterparts. This Agreement may be executed in
counterparts (and by each of the parties hereto on different counterparts),
each of which when so executed and delivered will be an original, and all of
which together will be deemed to constitute but one and the same instrument.

          Section 21. Treatment as Security Agreement. It is the express
intent of the parties hereto that the conveyance of the Mortgage Loans by
Seller to Depositor as provided in this Agreement be, and be construed as, a
sale of the Mortgage Loans by Seller to Depositor. It is, further, not the
intention of the parties that such conveyance be deemed a pledge of the
Mortgage Loans by Seller to Depositor to secure a debt or other obligation of
Seller. However, in the event that, notwithstanding the intent of the parties,
the Mortgage Loans are held to be property of Seller or if for any reason this
Agreement is held or deemed to create a security interest in the Mortgage
Loans:

          (a) this Agreement shall hereby create a security agreement within
the meaning of Articles 8 and 9 of the Uniform Commercial Code in effect in
the applicable state;

          (b) the conveyance provided for in this Agreement shall hereby grant
from Seller to Depositor a security interest in and to all of Seller's right,
title, and interest, whether now owned or hereafter acquired, in and to:

               (i) all accounts, contract rights (including any guarantees),
          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

                                      17
<PAGE>

          to any of the property described in the Mortgage Loans, including
          the related Notes, Mortgages and title, hazard and other insurance
          policies, identified on the Mortgage Loan Schedule or that
          constitute Replacement Mortgage Loans, and all distributions with
          respect thereto payable after the Cut-off Date;

               (ii) all accounts, contract rights, general intangibles,
          chattel paper, instruments, documents, money, deposit accounts,
          certificates of deposit, goods, letters of credit, advices of credit
          and investment property 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 (i) above (including
          any accrued discount realized on liquidation of any investment
          purchased at a discount), in each case, payable after the Cut-off
          Date; and

               (iii) all cash and non-cash proceeds of the collateral
          described in clauses (i) and (ii) above payable after the Cut-off
          Date;

          (c) the possession by Depositor or its assignee of the Notes 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 or a person
designated by him or her, for purposes of perfecting the security interest
pursuant to the Uniform Commercial Code (including, without limitation,
Sections 9-306, 9-313 and 9-314 thereof) as in force in the relevant
jurisdiction; and

          (d) notifications to persons holding such property, and
acknowledgments, receipts, confirmations from persons holding such property,
shall be deemed to be notifications to, or acknowledgments, receipts or
confirmations from, financial intermediaries, bailees or agents of, or persons
holding for (as applicable), Depositor or its assignee for the purpose of
perfecting such security interest under applicable law.

          The Seller at the direction of the Depositor or its assignee, shall,
to the extent consistent with this Agreement, take such actions as may be
necessary to ensure that, if this Agreement were deemed to create a security
interest in the Mortgage Loans and the proceeds thereof, such security
interest would be a perfected security interest of first priority under
applicable law and will be maintained as such throughout the term of this
Agreement. In connection herewith, Depositor and its assignee 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 and may execute and
file such UCC Financing Statements as may be necessary or appropriate to
accomplish the foregoing.

          Section 22. Recordation of Agreement. To the extent permitted by
applicable law, this Agreement is subject to recordation following the Closing
Date 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 to be effected by
Seller at Seller's expense at the direction of Depositor accompanied by an
opinion of counsel to the effect that such recordation materially and
beneficially affects the interests of Depositor.

                                     * * *

                                      18
<PAGE>

          IN WITNESS WHEREOF, the parties hereto have caused this Mortgage
Loan Purchase Agreement to be duly executed and delivered as the date first
above written.

                               COLUMN FINANCIAL, INC.,
                               as Seller

                               By: /s/ Jeffrey Altabef
                                  -------------------------------------------
                               Name:  Jeffrey Altabef
                               Title: Director

                               CREDIT SUISSE FIRST BOSTON MORTGAGE
                               SECURITIES CORP.,
                               as Depositor

                               By: /s/ Jeffrey Altabef
                                  -------------------------------------------
                               Name:  Jeffrey Altabef
                               Title: Director

<PAGE>

                                                                    SCHEDULE I

                         SCHEDULE OF TRANSACTION TERMS

          This Schedule of Transaction Terms is appended to and incorporated
by reference in the Mortgage Loan Purchase Agreement (the "Agreement"), dated
as of September 11, 2003, between Column Financial, Inc. (the "Seller") and
Credit Suisse First Boston Mortgage Securities Corp. (the "Depositor").
Capitalized terms used herein without definition have the meanings given them
in or by reference in the Agreement or, if not defined in the Agreement, in
the Pooling and Servicing Agreement.

          "Affiliate" means with respect to any specified Person, any other
Person controlling or controlled by or under common control with such
specified Person.

          "Borrower" means the borrower under a Mortgage Loan.

          "Certificate Purchase Agreement" means the Certificate Purchase
Agreement, dated September 11, 2003, between Depositor and the Initial
Purchaser.

          "Certificates" means the Credit Suisse First Boston Mortgage
Securities Corp. Commercial Mortgage Pass-Through Certificates, Series
2003-C4, issued in multiple classes.

          "Closing Date" means September 29, 2003.

          "Closing Statement" means the closing statement dated as of the
Closing Date and signed by, among others, the parties to this Agreement.

          "Code" means the Internal Revenue Code of 1986, as amended.

          "Crossed Mortgage Loan" means any Mortgage Loan which is
cross-defaulted and cross-collateralized with any other Mortgage Loan.

          "Cut-off Date" means, individually and collectively, the applicable
Due Dates for the respective Mortgage Loans occurring in September 2003.

          "Environmental Report" means the environmental audit report with
respect to each Mortgaged Property delivered to Seller in connection with the
related Mortgage, if any.

          "Exception Report" means exceptions with respect to the
representations and warranties made by the Seller as to the Mortgage Loans in
Section 6(a)(xii) and under the written certificate described in Section
4(b)(iii) of the Agreement, which exceptions are set forth in Schedule V
attached hereto and made a part hereof.

          "Initial Purchaser" means Credit Suisse First Boston LLC.

          "Loan Agreement" means, with respect to any Mortgage Loan, the loan
agreement, if any, between the related Mortgage Loan Originator and the
related Borrower, pursuant to which such Mortgage Loan was made.

                                     I-1
<PAGE>

          "Mortgage File" means, collectively, the documents and instruments
pertaining to a Mortgage Loan required to be included in the related Mortgage
File pursuant to Section 3 (subject to the proviso in Section 1 of the
Agreement).

          "Mortgage Loan Documents" means, collectively, the documents and
instruments pertaining to a Mortgage Loan to be included in either the related
Mortgage File or the related Servicer File.

          "Mortgage Loan Originator" means any institution which originated a
Mortgage Loan for a related Borrower.

          "Mortgage Loan Purchase Price" means the amount described in Section
2 of the Agreement.

          "Offering Circular" means the confidential offering circular dated
September 11, 2003, describing certain classes of the Private Certificates.

          "Pooling and Servicing Agreement" means the Pooling and Servicing
Agreement creating the Trust Fund and the interests therein, dated as of
September 11, 2003, among the Master Servicer, the Special Servicer, the
Depositor and the Trustee, including, without limitation, the exhibits and
schedules annexed thereto.

          "Primary Collateral" means with respect to any Crossed Mortgage
Loan, that portion of the Mortgaged Property designated as directly securing
such Crossed Mortgage Loan and excluding any Mortgaged Property as to which
the related lien may only be foreclosed upon by exercise of the
cross-collateralization provisions of such Crossed Mortgage Loan.

          "Private Certificates" means the Certificates that are not Publicly
Offered Certificates.

          "Prospectus" means the Prospectus, dated September 2, 2003, that is
a part of the Depositor's registration statement on Form S-3 (File No.
333-97955).

          "Prospectus Supplement" means the Prospectus Supplement, dated
September 11, 2003, relating to the Publicly Offered Certificates.

          "Publicly Offered Certificates" means the Class A-1, Class A-2,
Class A-3, Class A-4, Class B, Class C, Class D and Class E Certificates.

          "Servicer File" means, collectively, all documents, records and
copies pertaining to a Mortgage Loan which are required to be included in the
related Servicer File pursuant to Section 3 thereof.

          "Underwriters" means Credit Suisse First Boston LLC, Greenwich
Capital Markets, Inc. and McDonald Investments Inc..

          "Underwriting Agreement" means the Underwriting Agreement, dated
September 11, 2003, between the Depositor and Credit Suisse First Boston LLC,
on behalf of itself and the other Underwriters.

                                      I-2
<PAGE>

<TABLE>
<CAPTION>

                                                                                                                        SCHEDULE II

                                                       MORTGAGE LOAN SCHEDULE

                                                                                                                            Mortgage
                                                                                                                      Zip    Loan
  #    Crossed Loan Name                                            Address                           City      State Code  Seller
------------------------------------------------------------------------------------------------------------------------------------
<S>    <C>     <C>                             <C>                                                <C>           <C>   <C>   <C>
  1            Circle Centre Mall              49 West Maryland Street                            Indianapolis  IN    46204 Column
------------------------------------------------------------------------------------------------------------------------------------
  2            Wanamaker Building - Office     100 Penn Square East                               Philadelphia  PA    19107 Column
------------------------------------------------------------------------------------------------------------------------------------
  4      (A)   Mira Mesa Market Center West    10604 - 10789 Westview Parkway                     San Diego     CA    92126 Column
------------------------------------------------------------------------------------------------------------------------------------
  5      (A)   Mira Mesa Market Center East    10604-10789 Westview Parkway                       San Diego     CA    92126 Column
------------------------------------------------------------------------------------------------------------------------------------

  6      (B)   PCCP - Commerce Centre          6565 Knott Avenue, 6535 & 6625 Caballero Boulevard Buena Park    CA    90620 Column
------------------------------------------------------------------------------------------------------------------------------------
               PCCP - Paramount Distribution
  7      (B)   Center                          14001 Orange Avenue                                Paramount     CA    90723 Column
------------------------------------------------------------------------------------------------------------------------------------

  8      (B)   PCCP - 301 Walnut               301 West Walnut Street                             Compton       CA    90220 Column
------------------------------------------------------------------------------------------------------------------------------------
  9A           Mayfair Mall - Retail           2500 North Mayfair Road                            Wauwatosa     WI    53226 Column
------------------------------------------------------------------------------------------------------------------------------------
  9B           Mayfair Mall - Office Complex   2500 North Mayfair Road                            Wauwatosa     WI    53226 Column
------------------------------------------------------------------------------------------------------------------------------------
  10           540 Madison Avenue              540 Madison Avenue                                 New York      NY    10022 Column
------------------------------------------------------------------------------------------------------------------------------------
               Town & Country Apartments -
  11           Urbana                          1032 Kerr Avenue                                   Urbana        IL    61802 Column
------------------------------------------------------------------------------------------------------------------------------------
  16     (C)   Red Lion Hotel Port Angeles     221 North Lincoln Street                           Port Angeles  WA    98362 Column
------------------------------------------------------------------------------------------------------------------------------------
  17     (C)   Red Lion Hotel Yakima Center    607 East Yakima Avenue                             Yakima        WA    98901 Column
------------------------------------------------------------------------------------------------------------------------------------
  18     (C)   Red Lion Hotel Eureka           1929 Fourth Street                                 Eureka        CA    95501 Column
------------------------------------------------------------------------------------------------------------------------------------
  19     (C)   Red Lion Hotel Twin Falls       1357 Blue Lakes Boulevard North                    Twin Falls    ID    83301 Column
------------------------------------------------------------------------------------------------------------------------------------
  20     (C)   Red Lion Hotel Kennewick        101 North Columbia Center Boulevard                Kennewick     WA    99336 Column
------------------------------------------------------------------------------------------------------------------------------------
               Arlington & Bradley Office
  21           Center                          6917-6937 Arlington Road                           Bethesda      MD    20814 Column
------------------------------------------------------------------------------------------------------------------------------------
  23           780 James P. Casey Road         780 James P. Casey Road                            Bristol       CT    06010 Column
------------------------------------------------------------------------------------------------------------------------------------
  24           800 Apollo                      800 Apollo Street                                  El Segundo    CA    90245 Column
------------------------------------------------------------------------------------------------------------------------------------
                                                                                                  Elk Grove
  25           Regent Industrial Center        501-565 Busse Road and 1800-1872 Brummel Drive     Village       IL    60007 Column
------------------------------------------------------------------------------------------------------------------------------------
  26           Sarasota Gateway                301 & 401 North Cattlemen Road                     Sarasota      FL    34232 Column
------------------------------------------------------------------------------------------------------------------------------------
  27           Bristol Farms Apartments        12007 Northeast 204th Place                        Bothell       WA    98011 Column
------------------------------------------------------------------------------------------------------------------------------------
  28           Country View Mobile Home Park   221 North Marion Road                              Sioux Falls   SD    57107 Column
------------------------------------------------------------------------------------------------------------------------------------
  29           University Commons              90 Commons Drive                                   Eugene        OR    97401 Column
------------------------------------------------------------------------------------------------------------------------------------
  30           Princeton Square Apartments     8321 West Princeton Square Boulevard               Jacksonville  FL    32256 Column
------------------------------------------------------------------------------------------------------------------------------------
  31           Burlington Center Mall          2501 Burlington-Mount Holly Road                   Burlington    NJ    08016 Column
------------------------------------------------------------------------------------------------------------------------------------
  32           Club at Tranquility Lake        2800 Tranquility Lake Boulevard                    Pearland      TX    77584 Column
------------------------------------------------------------------------------------------------------------------------------------
                                                                                                  Woodland
  33           Warner Center Business Park     Oxnard Street & Califa Street                      Hills         CA    91367 Column
------------------------------------------------------------------------------------------------------------------------------------
  34           Expressway Mall                 575-605 Rohnert Park Expressway                    Rohnert Park  CA    94928 Column
------------------------------------------------------------------------------------------------------------------------------------
  35           Airline Shopping Center         2701 Airline Drive                                 Metairie      LA    70001 Column
------------------------------------------------------------------------------------------------------------------------------------
               Windward Village Shopping
  36           Center                          11877 Douglas Road                                 Alpharetta    GA    30005 Column
------------------------------------------------------------------------------------------------------------------------------------
  37           Playa Blanca Apartments         1905-1979 Avenida Del Mexico                       San Diego     CA    92154 Column
------------------------------------------------------------------------------------------------------------------------------------
  38           Torrey View Corporate Center    10590 West Ocean Air Drive                         San Diego     CA    92130 Column
------------------------------------------------------------------------------------------------------------------------------------
  41           The Moorings Apartments         601 Enterprise Avenue                              League City   TX    77573 Column
------------------------------------------------------------------------------------------------------------------------------------
               5th & Lamar Retail/Office
  42           Development                     907 West 5th Street                                Austin        TX    78703 Column
------------------------------------------------------------------------------------------------------------------------------------
               American Village on the Lake
  43           Apartments                      9601 21st Street                                   Tulsa         OK    74129 Column
------------------------------------------------------------------------------------------------------------------------------------
  44           Ryan's Pointe Apartments        19606 Park Row                                     Houston       TX    77084 Column
------------------------------------------------------------------------------------------------------------------------------------
  45           Cleveland Street Square         16528 Cleveland Street                             Redmond       WA    98052 Column
------------------------------------------------------------------------------------------------------------------------------------

  47           Rivermont Apartments            201 Marina Drive                                   Tuscaloosa    AL    35406 Column
------------------------------------------------------------------------------------------------------------------------------------
               Westover Gallery Shopping
  50           Center                          1310-1424 Westover Terrace and 1500 Mill Street    Greensboro    NC    27408 Column
------------------------------------------------------------------------------------------------------------------------------------
  53           Trestles of Houston Apartments  14365 Cornerstone Village                          Houston       TX    77014 Column
------------------------------------------------------------------------------------------------------------------------------------
  54           Pemstar, Inc. Headquarters      3535 Technology Drive, NW                          Rochester     MN    55901 Column
------------------------------------------------------------------------------------------------------------------------------------
                                                                                                  Altamonte
  56           Riverbend Apartments            655 West State Road 436                            Springs       FL    32714 Column
------------------------------------------------------------------------------------------------------------------------------------
  57           D'Adrian Meadows Apartments     1233 Surrey Court                                  Godfrey       IL    62035 Column
------------------------------------------------------------------------------------------------------------------------------------
  58           Park Place                      1044 North 115th Street                            Omaha         NE    68154 Column
------------------------------------------------------------------------------------------------------------------------------------

<CAPTION>

                                              Original    Cut-off Date    Maturity/   Interest  Original    Remaining    Original
                                              Principal     Principal        ARD        Only  Amortization Amortization  Term to
  #    Crossed Loan Name                      Balance       Balance(1)    Balance (2)  Period     Term         Term     Maturity(2)
------------------------------------------------------------------------------------------------------------------------------------
<S>    <C>     <C>                            <C>         <C>            <C>           <C>    <C>          <C>          <C>
  1            Circle Centre Mall              $80,000,000 $79,550,681   $65,827,398.20     0         360          355         120
------------------------------------------------------------------------------------------------------------------------------------
  2            Wanamaker Building - Office     $65,000,000 $65,000,000   $55,468,910.51    12         360          360         120
------------------------------------------------------------------------------------------------------------------------------------
  4      (A)   Mira Mesa Market Center West    $34,500,000 $34,402,676   $29,055,845.49     0         360          357         120
------------------------------------------------------------------------------------------------------------------------------------
  5      (A)   Mira Mesa Market Center East    $28,500,000 $28,419,602   $24,002,654.05     0         360          357         120
------------------------------------------------------------------------------------------------------------------------------------
                                                                                                 Interest    Interest
  6      (B)   PCCP - Commerce Centre          $38,500,000 $38,500,000   $38,500,000.00    60    Only        Only               60
------------------------------------------------------------------------------------------------------------------------------------
               PCCP - Paramount Distribution                                                     Interest    Interest
  7      (B)   Center                           $9,600,000  $9,600,000    $9,600,000.00    60    Only        Only               60
------------------------------------------------------------------------------------------------------------------------------------
                                                                                                 Interest    Interest
  8      (B)   PCCP - 301 Walnut                $6,400,000  $6,400,000    $6,400,000.00    60    Only        Only               60
------------------------------------------------------------------------------------------------------------------------------------
  9A           Mayfair Mall - Retail           $37,339,394 $37,219,884   $33,352,097.64     0         360          358          60
------------------------------------------------------------------------------------------------------------------------------------
  9B           Mayfair Mall - Office Complex   $10,160,606 $10,128,086    $9,075,603.62     0         360          358          60
------------------------------------------------------------------------------------------------------------------------------------
  10           540 Madison Avenue              $45,000,000 $45,000,000   $42,966,666.87    59                                  120
------------------------------------------------------------------------------------------------------------------------------------
               Town & Country Apartments -
  11           Urbana                          $25,200,000 $25,200,000   $21,293,179.53    12         360          360         120
------------------------------------------------------------------------------------------------------------------------------------
  16     (C)   Red Lion Hotel Port Angeles      $9,100,000  $9,079,774    $7,213,631.10     0         300          298         120
------------------------------------------------------------------------------------------------------------------------------------
  17     (C)   Red Lion Hotel Yakima Center     $5,100,000  $5,088,664    $4,042,804.43     0         300          298         120
------------------------------------------------------------------------------------------------------------------------------------
  18     (C)   Red Lion Hotel Eureka            $3,000,000  $2,993,332    $2,378,120.86     0         300          298         120
------------------------------------------------------------------------------------------------------------------------------------
  19     (C)   Red Lion Hotel Twin Falls        $3,000,000  $2,993,332    $2,378,120.86     0         300          298         120
------------------------------------------------------------------------------------------------------------------------------------
  20     (C)   Red Lion Hotel Kennewick         $2,500,000  $2,494,443    $1,981,766.24     0         300          298         120
------------------------------------------------------------------------------------------------------------------------------------
               Arlington & Bradley Office
  21           Center                          $20,880,000 $20,880,000   $18,476,190.04    24         360          360         120
------------------------------------------------------------------------------------------------------------------------------------
  23           780 James P. Casey Road         $20,000,000 $19,964,899   $18,660,260.98     0         360          358          60
------------------------------------------------------------------------------------------------------------------------------------
  24           800 Apollo                      $19,800,000 $19,639,499   $16,891,627.63     0         360          351         120
------------------------------------------------------------------------------------------------------------------------------------
  25           Regent Industrial Center        $18,500,000 $18,385,981   $15,410,381.73     0         360          354         120
------------------------------------------------------------------------------------------------------------------------------------
  26           Sarasota Gateway                $16,150,000 $16,101,664   $13,493,497.79     0         360          357         120
------------------------------------------------------------------------------------------------------------------------------------
  27           Bristol Farms Apartments        $16,025,000 $16,025,000   $15,163,773.28    13         360          360          61
------------------------------------------------------------------------------------------------------------------------------------
  28           Country View Mobile Home Park   $15,400,000 $15,400,000   $12,999,307.21    24         324          324         120
------------------------------------------------------------------------------------------------------------------------------------
  29           University Commons              $14,542,500 $14,484,667   $12,532,178.04     0         360          355         120
------------------------------------------------------------------------------------------------------------------------------------
  30           Princeton Square Apartments     $14,370,000 $14,322,598   $11,839,490.99     0         360          357         120
------------------------------------------------------------------------------------------------------------------------------------
  31           Burlington Center Mall          $14,000,000 $13,960,688   $11,797,905.28     0         360          357         120
------------------------------------------------------------------------------------------------------------------------------------
  32           Club at Tranquility Lake        $14,000,000 $13,924,741   $12,653,831.39     0         360          354          84
------------------------------------------------------------------------------------------------------------------------------------
  33           Warner Center Business Park     $13,800,000 $13,707,100   $11,705,385.47     0         360          353         120
------------------------------------------------------------------------------------------------------------------------------------
  34           Expressway Mall                 $12,500,000 $12,440,396   $10,530,791.00     0         360          355         120
------------------------------------------------------------------------------------------------------------------------------------
  35           Airline Shopping Center         $12,000,000 $11,963,270    $9,994,854.37     0         360          357         120
------------------------------------------------------------------------------------------------------------------------------------
               Windward Village Shopping
  36           Center                          $11,500,000 $11,456,352    $9,659,763.15     0         360          356         120
------------------------------------------------------------------------------------------------------------------------------------
  37           Playa Blanca Apartments         $11,000,000 $11,000,000   $10,193,138.86    60         360          360         120
------------------------------------------------------------------------------------------------------------------------------------
  38           Torrey View Corporate Center    $11,000,000 $11,000,000    $9,084,861.03    24         300          300         120
------------------------------------------------------------------------------------------------------------------------------------
  41           The Moorings Apartments         $10,500,000 $10,449,029    $8,824,479.93     0         360          355         120
------------------------------------------------------------------------------------------------------------------------------------
               5th & Lamar Retail/Office
  42           Development                      $9,950,000  $9,927,668    $7,514,139.41     0         360          357         180
------------------------------------------------------------------------------------------------------------------------------------
               American Village on the Lake
  43           Apartments                       $9,950,000  $9,918,166    $8,234,979.21     0         360          357         120
------------------------------------------------------------------------------------------------------------------------------------
  44           Ryan's Pointe Apartments         $9,800,000  $9,722,436    $8,264,172.93     0         360          352         120
------------------------------------------------------------------------------------------------------------------------------------
  45           Cleveland Street Square          $9,750,000  $9,704,446    $8,236,351.87     0         360          355         120
------------------------------------------------------------------------------------------------------------------------------------
                                                                                                 Interest    Interest
  47           Rivermont Apartments             $9,500,000  $9,500,000    $9,500,000.00    60        Only        Only           60
------------------------------------------------------------------------------------------------------------------------------------
               Westover Gallery Shopping
  50           Center                           $8,225,000  $8,200,383    $6,872,074.45     0         360          357         120
------------------------------------------------------------------------------------------------------------------------------------
  53           Trestles of Houston Apartments   $7,622,000  $7,568,426    $6,532,766.47     0         360          352         120
------------------------------------------------------------------------------------------------------------------------------------
  54           Pemstar, Inc. Headquarters       $7,500,000  $7,425,395      $202,425.63     0         240          235         240
------------------------------------------------------------------------------------------------------------------------------------
  56           Riverbend Apartments             $6,800,000  $6,767,357    $5,723,593.56     0         360          355         120
------------------------------------------------------------------------------------------------------------------------------------
  57           D'Adrian Meadows Apartments      $6,720,000  $6,678,583    $5,597,717.12     0         360          354         120
------------------------------------------------------------------------------------------------------------------------------------
  58           Park Place                       $6,500,000  $6,480,851    $5,824,370.27     0         360          357          84
------------------------------------------------------------------------------------------------------------------------------------

<CAPTION>

                                              Remaining
                                               Term to
 #    Crossed   Loan Name                     Maturity(2)
---------------------------------------------------------
<S>   <C>      <C>                            <C>
  1            Circle Centre Mall                    115
---------------------------------------------------------
  2            Wanamaker Building - Office           117
---------------------------------------------------------
  4      (A)   Mira Mesa Market Center West          117
---------------------------------------------------------
  5      (A)   Mira Mesa Market Center East          117
---------------------------------------------------------
  6      (B)   PCCP - Commerce Centre                 59
---------------------------------------------------------
               PCCP - Paramount Distribution
  7      (B)   Center                                 59
---------------------------------------------------------

  8      (B)   PCCP - 301 Walnut                      59
---------------------------------------------------------
  9A           Mayfair Mall - Retail                  58
---------------------------------------------------------
  9B           Mayfair Mall - Office Complex          58
---------------------------------------------------------
  10           540 Madison Avenue                    118
---------------------------------------------------------
               Town & Country Apartments -
  11           Urbana                                115
---------------------------------------------------------
  16     (C)   Red Lion Hotel Port Angeles           118
---------------------------------------------------------
  17     (C)   Red Lion Hotel Yakima Center          118
---------------------------------------------------------
  18     (C)   Red Lion Hotel Eureka                 118
---------------------------------------------------------
  19     (C)   Red Lion Hotel Twin Falls             118
---------------------------------------------------------
  20     (C)   Red Lion Hotel Kennewick              118
---------------------------------------------------------
               Arlington & Bradley Office
  21           Center                                115
---------------------------------------------------------
  23           780 James P. Casey Road                58
---------------------------------------------------------
  24           800 Apollo                            111
---------------------------------------------------------
  25           Regent Industrial Center              114
---------------------------------------------------------
  26           Sarasota Gateway                      117
---------------------------------------------------------
  27           Bristol Farms Apartments               56
---------------------------------------------------------
  28           Country View Mobile Home Park         117
---------------------------------------------------------
  29           University Commons                    115
---------------------------------------------------------
  30           Princeton Square Apartments           117
---------------------------------------------------------
  31           Burlington Center Mall                117
---------------------------------------------------------
  32           Club at Tranquility Lake               78
---------------------------------------------------------
  33           Warner Center Business Park           113
---------------------------------------------------------
  34           Expressway Mall                       115
---------------------------------------------------------
  35           Airline Shopping Center               117
---------------------------------------------------------
               Windward Village Shopping
  36           Center                                116
---------------------------------------------------------
  37           Playa Blanca Apartments               118
---------------------------------------------------------
  38           Torrey View Corporate Center          115
---------------------------------------------------------
  41           The Moorings Apartments               115
---------------------------------------------------------
               5th & Lamar Retail/Office
  42           Development                           177
---------------------------------------------------------
               American Village on the Lake
  43           Apartments                            117
---------------------------------------------------------
  44           Ryan's Pointe Apartments              112
---------------------------------------------------------
  45           Cleveland Street Square               115
---------------------------------------------------------
  47           Rivermont Apartments                   53
---------------------------------------------------------
               Westover Gallery Shopping
  50           Center                                117
---------------------------------------------------------
  53           Trestles of Houston Apartments        112
---------------------------------------------------------
  54           Pemstar, Inc. Headquarters            235
---------------------------------------------------------
  56           Riverbend Apartments                  115
---------------------------------------------------------
  57           D'Adrian Meadows Apartments           114
---------------------------------------------------------
  58           Park Place                             81
---------------------------------------------------------
</TABLE>

                                                                II-1
<PAGE>

<TABLE>
<CAPTION>
                                                                                                                            Mortgage
                                                                                                                      Zip    Loan
  #    Crossed Loan Name                                            Address                           City      State Code  Seller
------------------------------------------------------------------------------------------------------------------------------------
<S>    <C>     <C>                             <C>                                                <C>           <C>   <C>   <C>
  59           Millstone Lakes Apartments      4133 Parkview Lake Drive                           Columbus      OH    43207 Column
------------------------------------------------------------------------------------------------------------------------------------
  61           Aspen Woods                     2910 South Collins Street                          Arlington     TX    76014 Column
------------------------------------------------------------------------------------------------------------------------------------
  62           Iliff Commons Shopping Center   2220 South Peoria Street                           Aurora        CO    80014 Column
------------------------------------------------------------------------------------------------------------------------------------
               Atlantic Boulevard Shopping
  63           Center                          10750 Atlantic Boulevard                           Jacksonville  FL    32225 Column
------------------------------------------------------------------------------------------------------------------------------------
  64           Shoppes at Brandon Farms        2535 East State Road 60                            Valrico       FL    33594 Column
------------------------------------------------------------------------------------------------------------------------------------
               Court Street Plaza Shopping
  65           Center                          1408 North 20th Avenue                             Pasco         WA    99301 Column
------------------------------------------------------------------------------------------------------------------------------------
  67           300 Alexander Park              300 Alexander Park                                 Princeton     NJ    08540 Column
------------------------------------------------------------------------------------------------------------------------------------
  68           4861 & 4891 Telsa Drive         4861 & 4891 Telsa Drive                            Bowie         MD    20715 Column
------------------------------------------------------------------------------------------------------------------------------------
  69           Longview Meadow Apartments      1100 Ray Suggs Place                               Concord       NC    28027 Column
------------------------------------------------------------------------------------------------------------------------------------
  70           8501 LaSalle Road               8501 LaSalle Road                                  Towson        MD    21286 Column
------------------------------------------------------------------------------------------------------------------------------------
  71           Trestles of Baytown Apartments  3403 Garth Road                                    Baytown       TX    77521 Column
------------------------------------------------------------------------------------------------------------------------------------
                                                                                                  Balcones
  72           Santa Fe Place Apartments       4210 Fredericksburg Road                           Heights       TX    78201 Column
------------------------------------------------------------------------------------------------------------------------------------
  73           Plumtree Professional Center    104 Plumtree Road                                  Bel Air       MD    21015 Column
------------------------------------------------------------------------------------------------------------------------------------
  75           Canyon Woods Apartments         2524 West Glenrosa Avenue                          Phoenix       AZ    85017 Column
------------------------------------------------------------------------------------------------------------------------------------
  76           Grove Street                    165 Grove Street                                   Franklin      MA    02038 Column
------------------------------------------------------------------------------------------------------------------------------------
  78           Ashley Park Apartments          2600 Frontage Road                                 Oklahoma City OK    73519 Column
------------------------------------------------------------------------------------------------------------------------------------
  79           Rosemont Retail Center          9500 West Higgins Road                             Rosemont      IL    60018 Column
------------------------------------------------------------------------------------------------------------------------------------
  81           Cardinal Shopping Center        6310 Old Oak Ridge Road                            Greensboro    NC    27410 Column
------------------------------------------------------------------------------------------------------------------------------------
  82           Grogan's Mill Village Center    2230-2260 Buckthorne Place                         The Woodlands TX    77380 Column
------------------------------------------------------------------------------------------------------------------------------------
  83           Atlas Valley Shopping Center    2770 Arapahoe Road                                 Lafayette     CO    80026 Column
------------------------------------------------------------------------------------------------------------------------------------
                                               3739-3755 Mayfield Road
                                                & 1375-1395 Cleveland
  84           Heights Garden Apartments       Heights Boulevard                                  Cleveland     OH    44121 Column
------------------------------------------------------------------------------------------------------------------------------------
  85           Radnor Towers Apartments        3110 Nolensville Road                              Nashville     TN    37211 Column
------------------------------------------------------------------------------------------------------------------------------------
  87           10 Canebrake Boulevard          10 Canebrake Road                                  Flowood       MS    39232 Column
------------------------------------------------------------------------------------------------------------------------------------
  88           The Forest Apartments           22820 Imperial Valley Drive                        Houston       TX    77073 Column
------------------------------------------------------------------------------------------------------------------------------------
               Gristedes - 3rd Ave. and 36th
  89           Street                          201 East 36th Street                               New York      NY    10016 Column
------------------------------------------------------------------------------------------------------------------------------------
  90           111 & 121 Roberts Street        111 & 121 Roberts Street                           East Hartford CT    06108 Column
------------------------------------------------------------------------------------------------------------------------------------
               Richland Village Shopping
  91           Center                          1310-1396 Belt Line Road East                      Richardson    TX    75081 Column
------------------------------------------------------------------------------------------------------------------------------------
  92           Pacific West Apartments         14121 Pierce Plaza                                 Omaha         NE    68144 Column
------------------------------------------------------------------------------------------------------------------------------------
  93           Atrium Medical Office Building  2417 Atrium Drive                                  Raleigh       NC    27607 Column
------------------------------------------------------------------------------------------------------------------------------------
  94           Wingate Inn Fayetteville        4182 Sycamore Dairy Road                           Fayetteville  NC    28303 Column
------------------------------------------------------------------------------------------------------------------------------------
  95           Millside Building               2170 Buckthorne Place                              The Woodlands TX    77380 Column
------------------------------------------------------------------------------------------------------------------------------------
                                                                                                  Southern
 100           Market at Southern Pines        135-171 Beverly Lane                               Pines         NC    28387 Column
------------------------------------------------------------------------------------------------------------------------------------
 101           Palm Shadows MH & RV Park       200 North Val Verde Road                           Donna         TX    78537 Column
------------------------------------------------------------------------------------------------------------------------------------
 103           Anderson Oaks Mobile Home Park  600 East Anderson Road                             Houston       TX    77047 Column
------------------------------------------------------------------------------------------------------------------------------------
 108           Magic Valley Park               2300 East Highway 83                               Weslaco       TX    78596 Column
------------------------------------------------------------------------------------------------------------------------------------
 109           River Park Apartments           241 Seville Drive                                  New Braunfels TX    78130 Column
------------------------------------------------------------------------------------------------------------------------------------
 110           Portway Plaza Office Building   1717 Turning Basin Drive                           Houston       TX    77029 Column
------------------------------------------------------------------------------------------------------------------------------------
 111           Marigold Apartments             2303 Goliad Road                                   San Antonio   TX    78223 Column
------------------------------------------------------------------------------------------------------------------------------------
 112           Carlton Apartments              6301 Woodway Drive                                 Fort Worth    TX    76133 Column
------------------------------------------------------------------------------------------------------------------------------------
 113     (D)   Ramey's Mobile Home Park        1600 Lynchburg Turnpike                            Salem         VA    24153 Column
------------------------------------------------------------------------------------------------------------------------------------
 114     (D)   Bexley Mobile Home Park         7413 Allstate Drive                                Petersburg    VA    23805 Column
------------------------------------------------------------------------------------------------------------------------------------
 117           Lincoln Professional Plaza      8683 East Lincoln Avenue                           Lone Tree     CO    80124 Column
------------------------------------------------------------------------------------------------------------------------------------
 118           Santa Grande Mobile Home Park   4375 West Missouri Avenue                          Glendale      AZ    85301 Column
------------------------------------------------------------------------------------------------------------------------------------
 119           301 N. Brand Blvd.              301 North Brand Boulevard                          Glendale      CA    91203 Column
------------------------------------------------------------------------------------------------------------------------------------
 120           Tropicana Del Este Apartments   5425 East Tropicana Avenue                         Las Vegas     NV    89122 Column
------------------------------------------------------------------------------------------------------------------------------------
 123           Sundance Village MHP            1400 Banana Road                                   Lakeland      FL    33801 Column
------------------------------------------------------------------------------------------------------------------------------------
 124           University Plaza                913 West 3rd Street                                Pembroke      NC    28372 Column
------------------------------------------------------------------------------------------------------------------------------------
               Campbell Station Shopping
 125           Center                          4910 Columbia Highway                              Spring Hill   TN    37174 Column
------------------------------------------------------------------------------------------------------------------------------------
 126           Southwest Storage               2555 Eldridge Road                                 Sugar Land    TX    77478 Column
------------------------------------------------------------------------------------------------------------------------------------
 129           Greenbriar MHP                  2120 Duff Road                                     Lakeland      FL    33810 Column
------------------------------------------------------------------------------------------------------------------------------------
 130           Trafalgar Square Apartments     2477 County Home Road                              Greenville    NC    27858 Column
------------------------------------------------------------------------------------------------------------------------------------
 131           Queens Lane Apartments          2525 Allen Genoa Road                              Pasadena      TX    77502 Column
------------------------------------------------------------------------------------------------------------------------------------
 133           327 East 52nd Street            327 East 52nd Street                               New York      NY    10022 Column
------------------------------------------------------------------------------------------------------------------------------------
 134           Naples Place IV                 4058 Bayshore Drive                                Naples        FL    34112 Column
------------------------------------------------------------------------------------------------------------------------------------

<CAPTION>

                                              Original    Cut-off Date    Maturity/   Interest  Original    Remaining    Original
                                              Principal     Principal        ARD        Only  Amortization Amortization  Term to
  #    Crossed Loan Name                      Balance       Balance(1)    Balance (2)  Period     Term         Term     Maturity(2)
------------------------------------------------------------------------------------------------------------------------------------
<S>    <C>     <C>                            <C>         <C>            <C>           <C>    <C>          <C>          <C>
  59           Millstone Lakes Apartments       $6,200,000  $6,174,031    $5,138,349.17     0         360          356         120
------------------------------------------------------------------------------------------------------------------------------------
  61           Aspen Woods                      $6,100,000  $6,053,318    $5,703,667.29     0         360          352          60
------------------------------------------------------------------------------------------------------------------------------------
  62           Iliff Commons Shopping Center    $6,000,000  $5,970,416    $5,031,773.36     0         360          355         120
------------------------------------------------------------------------------------------------------------------------------------
               Atlantic Boulevard Shopping
  63           Center                           $5,700,000  $5,689,894    $4,799,461.31     0         360          358         120
------------------------------------------------------------------------------------------------------------------------------------
  64           Shoppes at Brandon Farms         $5,550,000  $5,523,118    $4,665,789.49     0         360          355         120
------------------------------------------------------------------------------------------------------------------------------------
               Court Street Plaza Shopping
  65           Center                           $5,500,000  $5,474,535    $4,651,703.09     0         360          355         120
------------------------------------------------------------------------------------------------------------------------------------
  67           300 Alexander Park               $5,250,000  $5,225,526    $4,436,285.41     0         360          355         120
------------------------------------------------------------------------------------------------------------------------------------
  68           4861 & 4891 Telsa Drive          $5,240,000  $5,210,154    $4,412,309.43     0         360          354         120
------------------------------------------------------------------------------------------------------------------------------------
  69           Longview Meadow Apartments       $5,200,000  $5,180,218    $4,366,557.37     0         360          356         120
------------------------------------------------------------------------------------------------------------------------------------
  70           8501 LaSalle Road                $5,200,000  $5,175,094    $4,378,192.39     0         360          355         120
------------------------------------------------------------------------------------------------------------------------------------
  71           Trestles of Baytown Apartments   $5,206,250  $5,170,193    $4,470,813.14     0         360          352         120
------------------------------------------------------------------------------------------------------------------------------------
  72           Santa Fe Place Apartments        $5,150,000  $5,119,530    $3,907,524.03     0         300          296         120
------------------------------------------------------------------------------------------------------------------------------------
  73           Plumtree Professional Center     $5,050,000  $5,050,000    $4,293,729.11     6         360          360         120
------------------------------------------------------------------------------------------------------------------------------------
  75           Canyon Woods Apartments          $4,900,000  $4,884,800    $4,073,526.58     0         360          357         120
------------------------------------------------------------------------------------------------------------------------------------
  76           Grove Street                     $4,900,000  $4,880,209    $3,791,561.77     0         300          297         120
------------------------------------------------------------------------------------------------------------------------------------
  78           Ashley Park Apartments           $4,850,000  $4,815,112    $4,144,257.28     0         360          352         120
------------------------------------------------------------------------------------------------------------------------------------
  79           Rosemont Retail Center           $4,760,000  $4,742,602    $4,017,740.90     0         360          356         120
------------------------------------------------------------------------------------------------------------------------------------
  81           Cardinal Shopping Center         $4,640,000  $4,626,113    $3,876,769.42     0         360          357         120
------------------------------------------------------------------------------------------------------------------------------------
  82           Grogan's Mill Village Center     $4,525,000  $4,500,902    $3,843,393.98     0         360          354         120
------------------------------------------------------------------------------------------------------------------------------------
  83           Atlas Valley Shopping Center     $4,350,000  $4,327,695    $3,712,042.33     0         360          354         120
------------------------------------------------------------------------------------------------------------------------------------
               3739-3755 Mayfield Road & 1375
  84           Heights Garden Apartments        $4,320,000  $4,298,509    $3,618,421.46     0         360          355         120
------------------------------------------------------------------------------------------------------------------------------------
  85           Radnor Towers Apartments         $4,250,000  $4,242,368    $3,573,112.30     0         360          358         120
------------------------------------------------------------------------------------------------------------------------------------
  87           10 Canebrake Boulevard           $4,125,000  $4,117,779    $3,478,548.15     0         360          358         120
------------------------------------------------------------------------------------------------------------------------------------
  88           The Forest Apartments            $4,050,000  $4,023,460    $3,448,326.85     0         360          353         120
------------------------------------------------------------------------------------------------------------------------------------
               Gristedes - 3rd Ave. and 36th
  89           Street                           $4,000,000  $3,992,241    $3,330,808.89     0         360          358         120
------------------------------------------------------------------------------------------------------------------------------------
  90           111 & 121 Roberts Street         $3,950,000  $3,917,276    $3,046,531.16     0         300          294         120
------------------------------------------------------------------------------------------------------------------------------------
               Richland Village Shopping
  91           Center                           $3,700,000  $3,680,937    $3,155,540.05     0         360          354         120
------------------------------------------------------------------------------------------------------------------------------------
  92           Pacific West Apartments          $3,700,000  $3,678,829    $3,113,671.54     0         360          354         120
------------------------------------------------------------------------------------------------------------------------------------
  93           Atrium Medical Office Building   $3,700,000  $3,669,598    $3,103,169.49     0         360          352         120
------------------------------------------------------------------------------------------------------------------------------------
  94           Wingate Inn Fayetteville         $3,600,000  $3,586,825    $2,835,975.23     0         300          297         120
------------------------------------------------------------------------------------------------------------------------------------
  95           Millside Building                $3,575,000  $3,555,961    $3,036,492.91     0         360          354         120
------------------------------------------------------------------------------------------------------------------------------------
 100           Market at Southern Pines         $3,340,000  $3,330,182    $2,797,523.22     0         360          357         120
------------------------------------------------------------------------------------------------------------------------------------
 101           Palm Shadows MH & RV Park        $3,250,000  $3,237,894    $2,736,588.52     0         360          356         120
------------------------------------------------------------------------------------------------------------------------------------
 103           Anderson Oaks Mobile Home Park   $3,200,000  $3,191,240    $2,705,582.24     0         360          357         120
------------------------------------------------------------------------------------------------------------------------------------
 108           Magic Valley Park                $2,900,000  $2,889,325    $2,445,573.27     0         360          356         120
------------------------------------------------------------------------------------------------------------------------------------
 109           River Park Apartments            $2,875,000  $2,860,379    $2,400,641.93     0         360          355         120
------------------------------------------------------------------------------------------------------------------------------------
 110           Portway Plaza Office Building    $2,850,000  $2,833,767    $2,399,824.41     0         360          354         120
------------------------------------------------------------------------------------------------------------------------------------
 111           Marigold Apartments              $2,800,000  $2,785,823    $2,339,472.95     0         360          355         120
------------------------------------------------------------------------------------------------------------------------------------
 112           Carlton Apartments               $2,800,000  $2,776,801    $2,381,797.09     0         360          351         120
------------------------------------------------------------------------------------------------------------------------------------
 113     (D)   Ramey's Mobile Home Park         $1,680,000  $1,666,448    $1,107,889.78     0         240          236         120
------------------------------------------------------------------------------------------------------------------------------------
 114     (D)   Bexley Mobile Home Park          $1,104,000  $1,095,094      $728,042.14     0         240          236         120
------------------------------------------------------------------------------------------------------------------------------------
 117           Lincoln Professional Plaza       $2,550,000  $2,540,276    $2,140,637.50     0         360          356         120
------------------------------------------------------------------------------------------------------------------------------------
 118           Santa Grande Mobile Home Park    $2,525,000  $2,510,782    $2,129,378.67     0         360          354         120
------------------------------------------------------------------------------------------------------------------------------------
 119           301 N. Brand Blvd.               $2,500,000  $2,488,166    $2,153,473.26     0         360          354         120
------------------------------------------------------------------------------------------------------------------------------------
 120           Tropicana Del Este Apartments    $2,475,000  $2,463,146    $2,083,851.01     0         360          355         120
------------------------------------------------------------------------------------------------------------------------------------
 123           Sundance Village MHP             $2,350,000  $2,337,238    $1,813,069.31     0         300          296         120
------------------------------------------------------------------------------------------------------------------------------------
 124           University Plaza                 $2,320,000  $2,311,236    $1,949,942.84     0         360          356         120
------------------------------------------------------------------------------------------------------------------------------------
               Campbell Station Shopping
 125           Center                           $2,325,000  $2,309,348    $1,972,103.27     0         360          353         120
------------------------------------------------------------------------------------------------------------------------------------
 126           Southwest Storage                $2,300,000  $2,285,492    $1,806,026.58     0         300          295         120
------------------------------------------------------------------------------------------------------------------------------------
 129           Greenbriar MHP                   $2,100,000  $2,088,596    $1,620,188.79     0         300          296         120
------------------------------------------------------------------------------------------------------------------------------------
 130           Trafalgar Square Apartments      $2,000,000  $1,996,317    $1,686,938.50     3         360          358         120
------------------------------------------------------------------------------------------------------------------------------------
 131           Queens Lane Apartments           $2,000,000  $1,992,515    $1,683,032.81     0         360          356         120
------------------------------------------------------------------------------------------------------------------------------------
 133           327 East 52nd Street             $1,920,000  $1,911,864    $1,472,005.03     0         300          297         120
------------------------------------------------------------------------------------------------------------------------------------
 134           Naples Place IV                  $1,920,000  $1,909,093    $1,726,386.54     0         300          296          60
------------------------------------------------------------------------------------------------------------------------------------

<CAPTION>

                                              Remaining
                                               Term to
 #    Crossed   Loan Name                     Maturity(2)
---------------------------------------------------------
<S>   <C>      <C>                            <C>
  59           Millstone Lakes Apartments            116
---------------------------------------------------------
  61           Aspen Woods                            52
---------------------------------------------------------
  62           Iliff Commons Shopping Center         115
---------------------------------------------------------
               Atlantic Boulevard Shopping
  63           Center                                118
---------------------------------------------------------
  64           Shoppes at Brandon Farms              115
---------------------------------------------------------
               Court Street Plaza Shopping
  65           Center                                115
---------------------------------------------------------
  67           300 Alexander Park                    115
---------------------------------------------------------
  68           4861 & 4891 Telsa Drive               114
---------------------------------------------------------
  69           Longview Meadow Apartments            116
---------------------------------------------------------
  70           8501 LaSalle Road                     115
---------------------------------------------------------
  71           Trestles of Baytown Apartments        112
---------------------------------------------------------
  72           Santa Fe Place Apartments             116
---------------------------------------------------------
  73           Plumtree Professional Center          114
---------------------------------------------------------
  75           Canyon Woods Apartments               117
---------------------------------------------------------
  76           Grove Street                          117
---------------------------------------------------------
  78           Ashley Park Apartments                112
---------------------------------------------------------
  79           Rosemont Retail Center                116
---------------------------------------------------------
  81           Cardinal Shopping Center              117
---------------------------------------------------------
  82           Grogan's Mill Village Center          114
---------------------------------------------------------
  83           Atlas Valley Shopping Center          114
---------------------------------------------------------
               3739-3755 Mayfield Road & 1375
  84           Heights Garden Apartments             115
---------------------------------------------------------
  85           Radnor Towers Apartments              118
---------------------------------------------------------
  87           10 Canebrake Boulevard                118
---------------------------------------------------------
  88           The Forest Apartments                 113
---------------------------------------------------------
               Gristedes - 3rd Ave. and 36th
  89           Street                                118
---------------------------------------------------------
  90           111 & 121 Roberts Street              114
---------------------------------------------------------
               Richland Village Shopping
  91           Center                                114
---------------------------------------------------------
  92           Pacific West Apartments               114
---------------------------------------------------------
  93           Atrium Medical Office Building        112
---------------------------------------------------------
  94           Wingate Inn Fayetteville              117
---------------------------------------------------------
  95           Millside Building                     114
---------------------------------------------------------
 100           Market at Southern Pines              117
---------------------------------------------------------
 101           Palm Shadows MH & RV Park             116
---------------------------------------------------------
 103           Anderson Oaks Mobile Home Park        117
---------------------------------------------------------
 108           Magic Valley Park                     116
---------------------------------------------------------
 109           River Park Apartments                 115
---------------------------------------------------------
 110           Portway Plaza Office Building         114
---------------------------------------------------------
 111           Marigold Apartments                   115
---------------------------------------------------------
 112           Carlton Apartments                    111
---------------------------------------------------------
 113     (D)   Ramey's Mobile Home Park              116
---------------------------------------------------------
 114     (D)   Bexley Mobile Home Park               116
---------------------------------------------------------
 117           Lincoln Professional Plaza            116
---------------------------------------------------------
 118           Santa Grande Mobile Home Park         114
---------------------------------------------------------
 119           301 N. Brand Blvd.                    114
---------------------------------------------------------
 120           Tropicana Del Este Apartments         115
---------------------------------------------------------
 123           Sundance Village MHP                  116
---------------------------------------------------------
 124           University Plaza                      116
---------------------------------------------------------
               Campbell Station Shopping
 125           Center                                113
---------------------------------------------------------
 126           Southwest Storage                     115
---------------------------------------------------------
 129           Greenbriar MHP                        116
---------------------------------------------------------
 130           Trafalgar Square Apartments           115
---------------------------------------------------------
 131           Queens Lane Apartments                116
---------------------------------------------------------
 133           327 East 52nd Street                  117
---------------------------------------------------------
 134           Naples Place IV                        56
---------------------------------------------------------
</TABLE>

                                      II-2
<PAGE>

<TABLE>
<CAPTION>
                                                                                                                            Mortgage
                                                                                                                      Zip    Loan
  #    Crossed Loan Name                                            Address                           City      State Code  Seller
------------------------------------------------------------------------------------------------------------------------------------
<S>    <C>     <C>                             <C>                                                <C>           <C>   <C>   <C>
 135           Park City Shopping Center       320 Homer Road                                     Minden        LA    71055 Column
------------------------------------------------------------------------------------------------------------------------------------
 136           Kennesaw Promenade              3600 Cherokee Street                               Kennesaw      GA    30144 Column
------------------------------------------------------------------------------------------------------------------------------------
 137           Lakewood Village - FL           5601 Duncan Road                                   Punta Gorda   FL    33982 Column
------------------------------------------------------------------------------------------------------------------------------------
 139           2317-2335 Market Street         2317-2335 Market Street                            San Francisco CA    94114 Column
------------------------------------------------------------------------------------------------------------------------------------
 140           Gloucester Apartments           17 Cleveland Street                                Gloucester    MA    01930 Column
------------------------------------------------------------------------------------------------------------------------------------
 141           Bayou Villa Apartments          3030 Old Highway 146                               La Porte      TX    77571 Column
------------------------------------------------------------------------------------------------------------------------------------
               South Michigan Avenue Office
 142           Building                        1455 South Michigan Avenue                         Chicago       IL    60605 Column
------------------------------------------------------------------------------------------------------------------------------------
 143           Gateway Retail Center           15470 Andrews Drive                                Denver        CO    80239 Column
------------------------------------------------------------------------------------------------------------------------------------
 144           Murphy Retail Center            640 U.S. Highway 19                                Murphy        NC    28906 Column
------------------------------------------------------------------------------------------------------------------------------------
 145           Anaheim Street Retail Center    1223 - 1299 Anaheim Street                         Long Beach    CA    90813 Column
------------------------------------------------------------------------------------------------------------------------------------
 146           Park Street Retail              34 Park Street                                     Andover       MA    01810 Column
------------------------------------------------------------------------------------------------------------------------------------
 147           Sprinkle Ridge Apartments       5441 Meredith Drive                                Portage       MI    49002 Column
------------------------------------------------------------------------------------------------------------------------------------
 148           Melonie Square                  8004 Indiana Avenue                                Lubbock       TX    79423 Column
------------------------------------------------------------------------------------------------------------------------------------
 149           7000 North Freeway              7000 North Freeway                                 Houston       TX    77076 Column
------------------------------------------------------------------------------------------------------------------------------------
 150           Sunny Isle Apartments           18200 NW 20th Avenue                               Miami         FL    33056 Column
------------------------------------------------------------------------------------------------------------------------------------
 151           Nichols Station I Apartments    311 North Hancock Street                           Madison       WI    53703 Column
------------------------------------------------------------------------------------------------------------------------------------
 152           Biddeford Apartments            614 Main Street                                    Biddeford     ME    04005 Column
------------------------------------------------------------------------------------------------------------------------------------
 153           Mount Vernon Apartments         300 Wilkinson Lane                                 White House   TN    37188 Column
------------------------------------------------------------------------------------------------------------------------------------
               Cambridge Estates Apts (Phase
 154           III)                            2511 Malden Road                                   Lafayette     IN    47201 Column
------------------------------------------------------------------------------------------------------------------------------------
 155           South Ynez Apartments           201 South Ynez Avenue                              Monterey Park CA    91754 Column
------------------------------------------------------------------------------------------------------------------------------------
               Colorado Square / Medlin Place
 156           Apartments                      2415 and 2601 Medlin Lane                          Arlington     TX    76015 Column
------------------------------------------------------------------------------------------------------------------------------------
 157           Country Oaks Mobile Home Park   7510 Talley Road                                   San Antonio   TX    78253 Column
------------------------------------------------------------------------------------------------------------------------------------
 158           Greenville Retail Center        240 SW Greenville Boulevard                        Greenville    NC    27834 Column
------------------------------------------------------------------------------------------------------------------------------------
 159           Cliffview Crossing              1111 West Ledbetter Drive                          Dallas        TX    75224 Column
------------------------------------------------------------------------------------------------------------------------------------
 160           Grove Apartments                1408 10th Avenue                                   Union Grove   WI    53182 Column
------------------------------------------------------------------------------------------------------------------------------------
 161           Greentree Apartments            1404-8011 Greenspire Drive                         Reynoldsburg  OH    43068 Column
------------------------------------------------------------------------------------------------------------------------------------
 162           Coachlite Apartments            2031 Lakeshore Drive                               Belvidere     IL    61008 Column
------------------------------------------------------------------------------------------------------------------------------------
 163           Northgate Terrace I Apartments  425 East 19th Street                               Panama City   FL    32405 Column
------------------------------------------------------------------------------------------------------------------------------------
 164           150 Broad Street                150 Broad Street                                   Nashua        NH    03063 Column
------------------------------------------------------------------------------------------------------------------------------------
 165           Sunset Avenue Apartments        53 Sunset Avenue                                   Venice        CA    90291 Column
------------------------------------------------------------------------------------------------------------------------------------
 166           Classic Village                 1403-1419 West Brandon Boulevard                   Brandon       FL    33511 Column
------------------------------------------------------------------------------------------------------------------------------------
 167           Knox Landing Apartments         1549 Knox Drive                                    Marietta      GA    30060 Column
------------------------------------------------------------------------------------------------------------------------------------
 168           1013 West Linden Street         1013 West Linden Street                            Allentown     PA    18102 Column
------------------------------------------------------------------------------------------------------------------------------------
 169           Ledgewood Mobile Home Park      9505 North Bedford Road                            Macedonia     OH    44056 Column
------------------------------------------------------------------------------------------------------------------------------------
 170           83 Elizabeth Street             83 Elizabeth Street                                Farmingdale   NY    11735 Column
------------------------------------------------------------------------------------------------------------------------------------
 171           1235 Elm Street                 1231-1235 Elm Street and 12-18 Pearl Street        Manchester    NH    03101 Column
------------------------------------------------------------------------------------------------------------------------------------
 116A          El Valle del Sol                2500 East Business Highway 83                      Mission       TX    78572 Column
------------------------------------------------------------------------------------------------------------------------------------
 116B          El Valle de la Luna             201 South Taylor Road                              McAllen       TX    78501 Column
------------------------------------------------------------------------------------------------------------------------------------
 132A          San Juan Gardens                900 East Business Highway 83                       San Juan      TX    78589 Column
------------------------------------------------------------------------------------------------------------------------------------
 132B          Friendly Village                1449 West Duranta Street                           Alamo         TX    78516 Column
------------------------------------------------------------------------------------------------------------------------------------

<CAPTION>

                                              Original    Cut-off Date    Maturity/   Interest  Original    Remaining    Original
                                              Principal     Principal        ARD        Only  Amortization Amortization  Term to
  #    Crossed Loan Name                      Balance       Balance(1)    Balance (2)  Period     Term         Term     Maturity(2)
------------------------------------------------------------------------------------------------------------------------------------
<S>    <C>     <C>                            <C>         <C>            <C>           <C>    <C>          <C>          <C>
 135           Park City Shopping Center        $1,875,000  $1,852,001    $1,236,051.60     0         240          234         120
------------------------------------------------------------------------------------------------------------------------------------
 136           Kennesaw Promenade               $1,800,000  $1,790,714    $1,401,929.40     0         300          296         120
------------------------------------------------------------------------------------------------------------------------------------
 137           Lakewood Village - FL            $1,800,000  $1,781,087       $21,925.33     0         180          177         180
------------------------------------------------------------------------------------------------------------------------------------
 139           2317-2335 Market Street          $1,750,000  $1,741,386    $1,500,648.64     0         360          354         120
------------------------------------------------------------------------------------------------------------------------------------
 140           Gloucester Apartments            $1,750,000  $1,740,146    $1,475,806.22     0         360          354         120
------------------------------------------------------------------------------------------------------------------------------------
 141           Bayou Villa Apartments           $1,700,000  $1,693,638    $1,430,578.05     0         360          356         120
------------------------------------------------------------------------------------------------------------------------------------
               South Michigan Avenue Office
 142           Building                         $1,700,000  $1,683,691    $1,541,807.95     0         300          293          60
------------------------------------------------------------------------------------------------------------------------------------
 143           Gateway Retail Center            $1,625,000  $1,619,701    $1,390,647.11     0         360          356         120
------------------------------------------------------------------------------------------------------------------------------------
 144           Murphy Retail Center             $1,625,000  $1,605,120    $1,072,066.25     0         240          234         120
------------------------------------------------------------------------------------------------------------------------------------
 145           Anaheim Street Retail Center     $1,600,000  $1,591,927    $1,251,142.10     0         300          296         120
------------------------------------------------------------------------------------------------------------------------------------
 146           Park Street Retail               $1,510,000  $1,503,934    $1,169,606.66     0         300          297         120
------------------------------------------------------------------------------------------------------------------------------------
 147           Sprinkle Ridge Apartments        $1,500,000  $1,495,661    $1,259,076.22     0         360          357         120
------------------------------------------------------------------------------------------------------------------------------------
 148           Melonie Square                   $1,500,000  $1,489,568    $1,156,374.88     0         300          295         120
------------------------------------------------------------------------------------------------------------------------------------
 149           7000 North Freeway               $1,500,000  $1,482,842       $27,923.68     0         192          188         192
------------------------------------------------------------------------------------------------------------------------------------
 150           Sunny Isle Apartments            $1,440,000  $1,428,238    $1,113,665.28     0         300          294         120
------------------------------------------------------------------------------------------------------------------------------------
 151           Nichols Station I Apartments     $1,435,000  $1,426,175    $1,195,720.98     0         360          354         120
------------------------------------------------------------------------------------------------------------------------------------
 152           Biddeford Apartments             $1,400,000  $1,395,537    $1,201,172.13     0         360          356         120
------------------------------------------------------------------------------------------------------------------------------------
 153           Mount Vernon Apartments          $1,360,000  $1,354,408    $1,048,780.04     0         300          297         120
------------------------------------------------------------------------------------------------------------------------------------
               Cambridge Estates Apts (Phase
 154           III)                             $1,350,000  $1,340,793       $17,163.77     0         180          178         180
------------------------------------------------------------------------------------------------------------------------------------
 155           South Ynez Apartments            $1,275,000  $1,266,118      $982,583.30     0         300          295         120
------------------------------------------------------------------------------------------------------------------------------------
               Colorado Square / Medlin Place
 156           Apartments                       $1,260,000  $1,251,298    $1,137,729.00     0         300          295          60
------------------------------------------------------------------------------------------------------------------------------------
 157           Country Oaks Mobile Home Park    $1,240,000  $1,236,637    $1,055,613.80     0         300          298          84
------------------------------------------------------------------------------------------------------------------------------------
 158           Greenville Retail Center         $1,225,000  $1,210,014      $808,172.10     0         240          234         120
------------------------------------------------------------------------------------------------------------------------------------
 159           Cliffview Crossing               $1,200,000  $1,193,775      $933,681.73     0         300          296         120
------------------------------------------------------------------------------------------------------------------------------------
 160           Grove Apartments                 $1,200,000  $1,192,279      $938,874.13     0         300          295         120
------------------------------------------------------------------------------------------------------------------------------------
 161           Greentree Apartments             $1,200,000  $1,184,121       $17,732.37     0         180          176         180
------------------------------------------------------------------------------------------------------------------------------------
 162           Coachlite Apartments             $1,100,000  $1,097,792      $911,918.45     0         360          358         120
------------------------------------------------------------------------------------------------------------------------------------
 163           Northgate Terrace I Apartments   $1,100,000  $1,092,456      $850,321.57     0         300          295         120
------------------------------------------------------------------------------------------------------------------------------------
 164           150 Broad Street                 $1,000,000    $995,990      $774,835.21     0         300          297         120
------------------------------------------------------------------------------------------------------------------------------------
 165           Sunset Avenue Apartments           $980,000    $975,676      $833,998.85     0         360          355         120
------------------------------------------------------------------------------------------------------------------------------------
 166           Classic Village                    $975,000    $970,217      $766,186.39     0         300          296         120
------------------------------------------------------------------------------------------------------------------------------------
 167           Knox Landing Apartments            $950,000    $945,974      $728,336.01     0         300          297         120
------------------------------------------------------------------------------------------------------------------------------------
 168           1013 West Linden Street            $765,000    $761,097      $597,013.43     0         300          296         120
------------------------------------------------------------------------------------------------------------------------------------
 169           Ledgewood Mobile Home Park         $760,000    $756,094      $592,321.65     0         300          296         120
------------------------------------------------------------------------------------------------------------------------------------
 170           83 Elizabeth Street                $650,000    $647,579      $547,318.35     0         360          356         120
------------------------------------------------------------------------------------------------------------------------------------
 171           1235 Elm Street                    $525,000    $520,890      $349,128.68     0         240          236         120
------------------------------------------------------------------------------------------------------------------------------------
 116A          El Valle del Sol                 $2,000,000  $1,990,887    $1,695,050.32     0         360          355         120
------------------------------------------------------------------------------------------------------------------------------------
 116B          El Valle de la Luna                $600,000    $597,266      $508,515.10     0         360          355         120
------------------------------------------------------------------------------------------------------------------------------------
 132A          San Juan Gardens                 $1,177,000  $1,171,686      $998,716.20     0         360          355         120
------------------------------------------------------------------------------------------------------------------------------------
 132B          Friendly Village                   $773,000    $769,510      $655,910.90     0         360          355         120
------------------------------------------------------------------------------------------------------------------------------------

<CAPTION>

                                              Remaining
                                               Term to
 #    Crossed   Loan Name                     Maturity(2)
---------------------------------------------------------
<S>   <C>      <C>                            <C>
 135           Park City Shopping Center             114
---------------------------------------------------------
 136           Kennesaw Promenade                    116
---------------------------------------------------------
 137           Lakewood Village - FL                 177
---------------------------------------------------------
 139           2317-2335 Market Street               114
---------------------------------------------------------
 140           Gloucester Apartments                 114
---------------------------------------------------------
 141           Bayou Villa Apartments                116
---------------------------------------------------------
               South Michigan Avenue Office
 142           Building                               53
---------------------------------------------------------
 143           Gateway Retail Center                 116
---------------------------------------------------------
 144           Murphy Retail Center                  114
---------------------------------------------------------
 145           Anaheim Street Retail Center          116
---------------------------------------------------------
 146           Park Street Retail                    117
---------------------------------------------------------
 147           Sprinkle Ridge Apartments             117
---------------------------------------------------------
 148           Melonie Square                        115
---------------------------------------------------------
 149           7000 North Freeway                    188
---------------------------------------------------------
 150           Sunny Isle Apartments                 114
---------------------------------------------------------
 151           Nichols Station I Apartments          114
---------------------------------------------------------
 152           Biddeford Apartments                  116
---------------------------------------------------------
 153           Mount Vernon Apartments               117
---------------------------------------------------------
               Cambridge Estates Apts (Phase
 154           III)                                  178
---------------------------------------------------------
 155           South Ynez Apartments                 115
---------------------------------------------------------
               Colorado Square / Medlin Place
 156           Apartments                             55
---------------------------------------------------------
 157           Country Oaks Mobile Home Park          82
---------------------------------------------------------
 158           Greenville Retail Center              114
---------------------------------------------------------
 159           Cliffview Crossing                    116
---------------------------------------------------------
 160           Grove Apartments                      115
---------------------------------------------------------
 161           Greentree Apartments                  176
---------------------------------------------------------
 162           Coachlite Apartments                  118
---------------------------------------------------------
 163           Northgate Terrace I Apartments        115
---------------------------------------------------------
 164           150 Broad Street                      117
---------------------------------------------------------
 165           Sunset Avenue Apartments              115
---------------------------------------------------------
 166           Classic Village                       116
---------------------------------------------------------
 167           Knox Landing Apartments               117
---------------------------------------------------------
 168           1013 West Linden Street               116
---------------------------------------------------------
 169           Ledgewood Mobile Home Park            116
---------------------------------------------------------
 170           83 Elizabeth Street                   116
---------------------------------------------------------
 171           1235 Elm Street                       116
---------------------------------------------------------
 116A          El Valle del Sol                      115
---------------------------------------------------------
 116B          El Valle de la Luna                   115
---------------------------------------------------------
 132A          San Juan Gardens                      115
---------------------------------------------------------
 132B          Friendly Village                      115
---------------------------------------------------------
</TABLE>

                                                                II-3
<PAGE>

<TABLE>
<CAPTION>
                                                             Interest
                                                 Mortgage   Calculation                   First
                                                 Interest    (30/360 /        Monthly     Payment    Maturity
  #   Crossed  Loan Name                           Rate     Actual/360)       Payment      Date        Date       ARD (8)
--------------------------------------------------------------------------------------------------------------------------
<S>    <C>     <C>                               <C>        <C>             <C>           <C>        <C>          <C>
  1            Circle Centre Mall                 5.020%    Actual/360      $430,435.68   5/11/2003   4/11/2013    N/A
--------------------------------------------------------------------------------------------------------------------------
  2            Wanamaker Building - Office        5.380%    Actual/360      $364,183.94   7/11/2003   6/11/2013    N/A
--------------------------------------------------------------------------------------------------------------------------
  4     (A)    Mira Mesa Market Center West       5.760%    Actual/360      $201,551.85   7/11/2003   6/11/2013    N/A
--------------------------------------------------------------------------------------------------------------------------
  5     (A)    Mira Mesa Market Center East       5.760%    Actual/360      $166,499.36   7/11/2003   6/11/2013    N/A
--------------------------------------------------------------------------------------------------------------------------
  6     (B)    PCCP - Commerce Centre             4.990%    Actual/360      $162,319.39   9/11/2003   8/11/2008    N/A
--------------------------------------------------------------------------------------------------------------------------
  7     (B)    PCCP - Paramount Distribution
               Center                             4.990%    Actual/360       $40,474.44   9/11/2003   8/11/2008    N/A
--------------------------------------------------------------------------------------------------------------------------
  8     (B)    PCCP - 301 Walnut                  4.990%    Actual/360       $26,982.96   9/11/2003   8/11/2008    N/A
--------------------------------------------------------------------------------------------------------------------------
 9A            Mayfair Mall - Retail              3.108%    Actual/360      $159,607.63   8/11/2003   7/11/2008    N/A
--------------------------------------------------------------------------------------------------------------------------
 9B            Mayfair Mall - Office Complex      3.108%    Actual/360       $43,431.62   8/11/2003   7/11/2008    N/A
--------------------------------------------------------------------------------------------------------------------------
 10            540 Madison Avenue                 4.880%    Actual/360      $218,120.40   8/11/2003   7/11/2033  7/11/2013
--------------------------------------------------------------------------------------------------------------------------
 11            Town & Country Apartments -
               Urbana                             5.030%    Actual/360      $135,741.46   5/11/2003   4/11/2013    N/A
--------------------------------------------------------------------------------------------------------------------------
 16     (C)    Red Lion Hotel Port Angeles        6.700%    Actual/360       $62,585.93   8/11/2003   7/11/2013    N/A
--------------------------------------------------------------------------------------------------------------------------
 17     (C)    Red Lion Hotel Yakima Center       6.700%    Actual/360       $35,075.63   8/11/2003   7/11/2013    N/A
--------------------------------------------------------------------------------------------------------------------------
 18     (C)    Red Lion Hotel Eureka              6.700%    Actual/360       $20,632.72   8/11/2003   7/11/2013    N/A
--------------------------------------------------------------------------------------------------------------------------
 19     (C)    Red Lion Hotel Twin Falls          6.700%    Actual/360       $20,632.72   8/11/2003   7/11/2013    N/A
--------------------------------------------------------------------------------------------------------------------------
 20     (C)    Red Lion Hotel Kennewick           6.700%    Actual/360       $17,193.94   8/11/2003   7/11/2013    N/A
--------------------------------------------------------------------------------------------------------------------------
 21            Arlington & Bradley Office
               Center                             5.930%    Actual/360      $124,248.01   5/11/2003   4/11/2013    N/A
--------------------------------------------------------------------------------------------------------------------------
 23            780 James P. Casey Road            5.790%    Actual/360      $117,223.28   8/11/2003   7/11/2008    N/A
--------------------------------------------------------------------------------------------------------------------------
 24            800 Apollo                         6.200%    Actual/360      $121,268.86   1/11/2003  12/11/2032 12/11/2012
--------------------------------------------------------------------------------------------------------------------------
 25            Regent Industrial Center           5.400%    Actual/360      $103,883.20   4/11/2003   3/11/2013    N/A
--------------------------------------------------------------------------------------------------------------------------
 26            Sarasota Gateway                   5.500%    Actual/360       $91,697.92   7/11/2003   6/11/2013    N/A
--------------------------------------------------------------------------------------------------------------------------
 27            Bristol Farms Apartments           5.630%    Actual/360       $92,299.53   5/11/2003   5/11/2008    N/A
--------------------------------------------------------------------------------------------------------------------------
 28            Country View Mobile Home Park      5.440%    Actual/360       $90,780.66   7/11/2003   6/11/2013    N/A
--------------------------------------------------------------------------------------------------------------------------
 29            University Commons                 6.550%    Actual/360       $92,397.21   5/11/2003   4/11/2013    N/A
--------------------------------------------------------------------------------------------------------------------------
 30            Princeton Square Apartments        5.060%    Actual/360       $77,669.07   7/11/2003   6/11/2013    N/A
--------------------------------------------------------------------------------------------------------------------------
 31            Burlington Center Mall             5.780%    Actual/360       $81,967.21   7/11/2003   6/11/2013    N/A
--------------------------------------------------------------------------------------------------------------------------
 32            Club at Tranquility Lake           6.000%    Actual/360       $83,937.07   4/11/2003   3/11/2010    N/A
--------------------------------------------------------------------------------------------------------------------------
 33            Warner Center Business Park        6.010%    Actual/360       $82,826.72   3/11/2003   2/11/2013    N/A
--------------------------------------------------------------------------------------------------------------------------
 34            Expressway Mall                    5.770%    Actual/360       $73,106.00   5/11/2003   4/11/2013    N/A
--------------------------------------------------------------------------------------------------------------------------
 35            Airline Shopping Center            5.400%    Actual/360       $67,383.70   7/11/2003   6/11/2013    N/A
--------------------------------------------------------------------------------------------------------------------------
 36            Windward Village Shopping
               Center                             5.670%    Actual/360       $66,527.58   6/11/2003   5/11/2013    N/A
--------------------------------------------------------------------------------------------------------------------------
 37            Playa Blanca Apartments            5.320%    Actual/360       $61,220.20   8/11/2003   7/11/2013    N/A
--------------------------------------------------------------------------------------------------------------------------
 38            Torrey View Corporate Center       5.760%    Actual/360       $69,268.19   5/11/2003   4/11/2013    N/A
--------------------------------------------------------------------------------------------------------------------------
 41            The Moorings Apartments            5.690%    Actual/360       $60,875.52   5/11/2003   4/11/2013    N/A
--------------------------------------------------------------------------------------------------------------------------
 42            5th & Lamar Retail/Office
               Development                        6.710%    Actual/360       $64,271.17   7/11/2003   6/11/2018    N/A
--------------------------------------------------------------------------------------------------------------------------
 43            American Village on the Lake
               Apartments                         5.200%    Actual/360       $54,636.53   7/11/2003   6/11/2013    N/A
--------------------------------------------------------------------------------------------------------------------------
 44            Ryan's Pointe Apartments           5.810%    Actual/360       $57,564.22   2/11/2003   1/11/2013    N/A
--------------------------------------------------------------------------------------------------------------------------
 45            Cleveland Street Square            5.860%    Actual/360       $57,581.49   5/11/2003   4/11/2033  4/11/2013
--------------------------------------------------------------------------------------------------------------------------
 47            Rivermont Apartments               5.500%    Actual/360       $44,146.41   3/11/2003   2/11/2008    N/A
--------------------------------------------------------------------------------------------------------------------------
 50            Westover Gallery Shopping
               Center                             5.500%    Actual/360       $46,700.65   7/11/2003   6/11/2013    N/A
--------------------------------------------------------------------------------------------------------------------------
 53            Trestles of Houston Apartments     6.367%    Actual/360       $47,511.49   2/11/2003   1/11/2013    N/A
--------------------------------------------------------------------------------------------------------------------------
 54            Pemstar, Inc. Headquarters         6.360%    Actual/360       $55,301.54   5/11/2003   4/11/2023    N/A
--------------------------------------------------------------------------------------------------------------------------
 56            Riverbend Apartments               5.740%    Actual/360       $39,639.77   5/11/2003   4/11/2013    N/A
--------------------------------------------------------------------------------------------------------------------------
 57            D'Adrian Meadows Apartments        5.400%    Actual/360       $37,734.87   4/11/2003   3/11/2013    N/A
--------------------------------------------------------------------------------------------------------------------------
 58            Park Place                         5.570%    Actual/360       $37,192.26   7/11/2003   6/11/2033  6/11/2010
--------------------------------------------------------------------------------------------------------------------------
 59            Millstone Lakes Apartments         5.240%    Actual/360       $34,198.24   6/11/2003   5/11/2013    N/A
--------------------------------------------------------------------------------------------------------------------------
 61            Aspen Woods                        5.970%    Actual/360       $36,455.01   2/11/2003   1/11/2008    N/A
--------------------------------------------------------------------------------------------------------------------------
 62            Iliff Commons Shopping Center      5.620%    Actual/360       $34,520.45   5/11/2003   4/11/2013    N/A
--------------------------------------------------------------------------------------------------------------------------
 63            Atlantic Boulevard Shopping
               Center                             5.750%    Actual/360       $33,263.65   8/11/2003   7/11/2013    N/A
--------------------------------------------------------------------------------------------------------------------------
 64            Shoppes at Brandon Farms           5.700%    Actual/360       $32,212.22   5/11/2003   4/11/2013    N/A
--------------------------------------------------------------------------------------------------------------------------
 65            Court Street Plaza Shopping
               Center                             5.900%    Actual/360       $32,622.51   5/11/2003   4/11/2013    N/A
--------------------------------------------------------------------------------------------------------------------------

<CAPTION>

                                                  Prepayment
                                                  Provision    Defeas-           Servicing                Contractual
                                                    as of      ance     Yield       and     Engineering    Recurring       LC & TI
                                                 Origination   Option  Mainten-   Trustee    Reserve at    Replacement    Reserve at
  #   Crossed  Loan Name                             (9)        (10)  ance Spread  Fees     Origination   Reserve/FF&E   Origination
------------------------------------------------------------------------------------------------------------------------------------
<S>    <C>     <C>                             <C>              <C>    <C>         <C>      <C>            <C>          <C>
  1            Circle Centre Mall              Lock/113_0.0%/7   Yes     N/A       0.0318%        $0.00          $0.00          $0
------------------------------------------------------------------------------------------------------------------------------------
  2            Wanamaker Building - Office     Lock/116_0.0%/4   Yes     N/A       0.0318%   $60,875.00    $184,985.88          $0
------------------------------------------------------------------------------------------------------------------------------------
  4     (A)    Mira Mesa Market Center West    Lock/117_0.0%/3   Yes     N/A       0.0318%        $0.00          $0.00          $0
------------------------------------------------------------------------------------------------------------------------------------
  5     (A)    Mira Mesa Market Center East    Lock/117_0.0%/3   Yes     N/A       0.0318%        $0.00          $0.00          $0
------------------------------------------------------------------------------------------------------------------------------------
  6     (B)    PCCP - Commerce Centre          Lock/56_0.0%/4    Yes     N/A       0.0318%   $12,500.00     $88,600.00  $1,152,500
------------------------------------------------------------------------------------------------------------------------------------
  7     (B)    PCCP - Paramount Distribution
               Center                          Lock/56_0.0%/4    Yes     N/A       0.0318%  $422,000.00     $26,356.00     $28,500
------------------------------------------------------------------------------------------------------------------------------------
  8     (B)    PCCP - 301 Walnut               Lock/56_0.0%/4    Yes     N/A       0.0318%  $435,187.00     $21,531.00     $24,000
------------------------------------------------------------------------------------------------------------------------------------
 9A            Mayfair Mall - Retail           Lock/56_0.0%/4    Yes     N/A       0.0318%        $0.00          $0.00          $0
------------------------------------------------------------------------------------------------------------------------------------
 9B            Mayfair Mall - Office Complex   Lock/56_0.0%/4    Yes     N/A       0.0318%        $0.00          $0.00          $0
------------------------------------------------------------------------------------------------------------------------------------
 10            540 Madison Avenue              Lock/116_0.0%/4   Yes     N/A       0.0318%        $0.00          $0.00          $0
------------------------------------------------------------------------------------------------------------------------------------
 11            Town & Country Apartments -
               Urbana                          Lock/117_0.0%/3   Yes     N/A       0.0318%   $14,590.00    $154,500.00          $0
------------------------------------------------------------------------------------------------------------------------------------
 16     (C)    Red Lion Hotel Port Angeles     Lock/117_0.0%/3   Yes     N/A       0.0318%   $80,913.00          $0.00          $0
------------------------------------------------------------------------------------------------------------------------------------
 17     (C)    Red Lion Hotel Yakima Center    Lock/117_0.0%/3   Yes     N/A       0.0318%   $50,075.00          $0.00          $0
------------------------------------------------------------------------------------------------------------------------------------
 18     (C)    Red Lion Hotel Eureka           Lock/117_0.0%/3   Yes     N/A       0.0318%   $24,375.00          $0.00          $0
------------------------------------------------------------------------------------------------------------------------------------
 19     (C)    Red Lion Hotel Twin Falls       Lock/117_0.0%/3   Yes     N/A       0.0318%   $29,813.00          $0.00          $0
------------------------------------------------------------------------------------------------------------------------------------
 20     (C)    Red Lion Hotel Kennewick        Lock/117_0.0%/3   Yes     N/A       0.0318%   $41,250.00          $0.00          $0
 -----------------------------------------------------------------------------------------------------------------------------------
 21            Arlington & Bradley Office      Lock/41_YM1/72_
               Center                          0.0%/7            No   0.0%T-Flat   0.0318%   $16,129.00     $22,704.00           $0
------------------------------------------------------------------------------------------------------------------------------------
 23            780 James P. Casey Road         Lock/36_0.0%/24   Yes     N/A       0.0318%  $436,312.00    $420,333.00           $0
------------------------------------------------------------------------------------------------------------------------------------
 24            800 Apollo                      Lock/116_0.0%/4   Yes     N/A       0.0318%   $62,763.00     $43,370.00   $1,000,000
------------------------------------------------------------------------------------------------------------------------------------
 25            Regent Industrial Center        Lock/117_0.0%/3   Yes     N/A       0.0318%    $4,500.00          $0.00     $300,000
------------------------------------------------------------------------------------------------------------------------------------
 26            Sarasota Gateway                Lock/117_0.0%/3   Yes     N/A       0.0318%        $0.00     $19,812.96           $0
------------------------------------------------------------------------------------------------------------------------------------
 27            Bristol Farms Apartments        Lock/57_0.0%/4    Yes     N/A       0.0318%    $2,500.00     $48,250.00           $0
------------------------------------------------------------------------------------------------------------------------------------
 28            Country View Mobile Home Park   Lock/117_0.0%/3   Yes     N/A       0.0318%    $4,375.00          $0.00           $0
------------------------------------------------------------------------------------------------------------------------------------
 29            University Commons              Lock/114_0.0%/6   Yes     N/A       0.0618%    $8,812.00    $176,400.00           $0
------------------------------------------------------------------------------------------------------------------------------------
 30            Princeton Square Apartments     Lock/117_0.0%/3   Yes     N/A       0.0318%   $22,500.00     $72,000.00           $0
------------------------------------------------------------------------------------------------------------------------------------
 31            Burlington Center Mall          Lock/117_0.0%/3   Yes     N/A       0.0618%   $87,450.00     $36,300.00           $0
------------------------------------------------------------------------------------------------------------------------------------
 32            Club at Tranquility Lake        Lock/78_0.0%/6    Yes     N/A       0.0618%        $0.00     $53,000.00           $0
------------------------------------------------------------------------------------------------------------------------------------
 33            Warner Center Business Park     Lock/117_0.0%/3   Yes     N/A       0.0318%    $5,750.00     $18,297.00           $0
------------------------------------------------------------------------------------------------------------------------------------
 34            Expressway Mall                 Lock/116_0.0%/4   Yes     N/A       0.0318%   $17,000.00     $22,200.00     $200,000
------------------------------------------------------------------------------------------------------------------------------------
 35            Airline Shopping Center         Lock/117_0.0%/3   Yes     N/A       0.0318%        $0.00      $7,697.04           $0
------------------------------------------------------------------------------------------------------------------------------------
 36            Windward Village Shopping
               Center                          Lock/117_0.0%/3   Yes     N/A       0.0318%        $0.00      $8,400.00           $0
------------------------------------------------------------------------------------------------------------------------------------
 37            Playa Blanca Apartments         Lock/117_0.0%/3   Yes     N/A       0.0318%   $44,829.00     $40,250.00           $0
------------------------------------------------------------------------------------------------------------------------------------
 38            Torrey View Corporate Center    Lock/117_0.0%/3   Yes     N/A       0.0318%        $0.00     $10,768.20           $0
------------------------------------------------------------------------------------------------------------------------------------
 41            The Moorings Apartments         Lock/114_0.0%/6   Yes     N/A       0.0318%        $0.00     $50,250.00           $0
------------------------------------------------------------------------------------------------------------------------------------
 42            5th & Lamar Retail/Office
               Development                     Lock/177_0.0%/3   Yes     N/A       0.0318%        $0.00     $11,095.20     $100,000
------------------------------------------------------------------------------------------------------------------------------------
 43            American Village on the Lake
               Apartments                      Lock/117_0.0%/3   Yes     N/A       0.0318%        $0.00    $116,000.04           $0
------------------------------------------------------------------------------------------------------------------------------------
 44            Ryan's Pointe Apartments        Lock/117_0.0%/3   Yes     N/A       0.0318%   $51,125.00     $69,999.96           $0
------------------------------------------------------------------------------------------------------------------------------------
 45            Cleveland Street Square         Lock/117_0.0%/3   Yes     N/A       0.0318%        $0.00     $10,706.04     $300,000
------------------------------------------------------------------------------------------------------------------------------------
 47            Rivermont Apartments            Lock/57_0.0%/3    Yes     N/A       0.0318%   $12,500.00     $50,000.04           $0
------------------------------------------------------------------------------------------------------------------------------------
 50            Westover Gallery Shopping
               Center                          Lock/117_0.0%/3   Yes     N/A       0.0318%        $0.00          $0.00           $0
------------------------------------------------------------------------------------------------------------------------------------
 53            Trestles of Houston Apartments  Lock/117_0.0%/3   Yes     N/A       0.0318%   $31,250.00     $67,999.92           $0
------------------------------------------------------------------------------------------------------------------------------------
 54            Pemstar, Inc. Headquarters      Lock/236_0.0%/4   Yes     N/A       0.0318%        $0.00          $0.00     $639,000
------------------------------------------------------------------------------------------------------------------------------------
 56            Riverbend Apartments            Lock/117_0.0%/3   Yes     N/A       0.0318%        $0.00     $27,199.92           $0
------------------------------------------------------------------------------------------------------------------------------------
 57            D'Adrian Meadows Apartments     Lock/117_0.0%/3   Yes     N/A       0.0318%  $123,750.00     $58,008.00           $0
------------------------------------------------------------------------------------------------------------------------------------
 58            Park Place                      Lock/81_0.0%/3    Yes     N/A       0.0318%   $14,175.00          $0.00           $0
------------------------------------------------------------------------------------------------------------------------------------
 59            Millstone Lakes Apartments      Lock/117_0.0%/3   Yes     N/A       0.0318%        $0.00     $36,000.00           $0
------------------------------------------------------------------------------------------------------------------------------------
 61            Aspen Woods                     Lock/54_0.0%/6    Yes     N/A       0.0318%  $159,250.00     $57,000.00           $0
------------------------------------------------------------------------------------------------------------------------------------
 62            Iliff Commons Shopping Center   Lock/117_0.0%/3   Yes     N/A       0.0318%        $0.00          $0.00           $0
------------------------------------------------------------------------------------------------------------------------------------
 63            Atlantic Boulevard Shopping
               Center                          Lock/117_0.0%/3   Yes     N/A       0.0318%        $0.00          $0.00      $30,000
------------------------------------------------------------------------------------------------------------------------------------
 64            Shoppes at Brandon Farms        Lock/116_0.0%/4   Yes     N/A       0.0318%        $0.00      $8,459.16           $0
------------------------------------------------------------------------------------------------------------------------------------
 65            Court Street Plaza Shopping
               Center                          Lock/117_0.0%/3   Yes     N/A       0.0318%   $55,250.00     $17,554.56           $0
------------------------------------------------------------------------------------------------------------------------------------

<CAPTION>

                                                    Contractual           Tax &              Initial
                                                     Recurring          Insurance             Other
  #   Crossed  Loan Name                               LC&TI             Escrows             Reserve
-------------------------------------------------------------------------------------------------------
<S>   <C>      <C>                                  <C>                   <C>              <C>
  1            Circle Centre Mall                         $0.00           None                   $0.00
-------------------------------------------------------------------------------------------------------
  2            Wanamaker Building - Office          $243,402.48           Both                   $0.00
-------------------------------------------------------------------------------------------------------
  4     (A)    Mira Mesa Market Center West               $0.00           None                   $0.00
-------------------------------------------------------------------------------------------------------
  5     (A)    Mira Mesa Market Center East               $0.00           None                   $0.00
-------------------------------------------------------------------------------------------------------
  6     (B)    PCCP - Commerce Centre                $78,000.00           Both                   $0.00
-------------------------------------------------------------------------------------------------------
  7     (B)    PCCP - Paramount Distribution
               Center                                $22,800.00           Both                   $0.00
-------------------------------------------------------------------------------------------------------
  8     (B)    PCCP - 301 Walnut                     $19,200.00           Both             $470,232.00
-------------------------------------------------------------------------------------------------------
 9A            Mayfair Mall - Retail                      $0.00           None                   $0.00
-------------------------------------------------------------------------------------------------------
 9B            Mayfair Mall - Office Complex              $0.00           None                   $0.00
-------------------------------------------------------------------------------------------------------
 10            540 Madison Avenue                         $0.00           None             $186,050.00
-------------------------------------------------------------------------------------------------------
 11            Town & Country Apartments -
               Urbana                                     $0.00           Both                   $0.00
-------------------------------------------------------------------------------------------------------
 16     (C)    Red Lion Hotel Port Angeles                $0.00           Both              $84,387.50
-------------------------------------------------------------------------------------------------------
 17     (C)    Red Lion Hotel Yakima Center               $0.00           Both              $18,725.00
-------------------------------------------------------------------------------------------------------
 18     (C)    Red Lion Hotel Eureka                      $0.00           Both              $29,250.00
-------------------------------------------------------------------------------------------------------
 19     (C)    Red Lion Hotel Twin Falls                  $0.00           Both                   $0.00
-------------------------------------------------------------------------------------------------------
 20     (C)    Red Lion Hotel Kennewick                   $0.00           Both              $27,375.00
-------------------------------------------------------------------------------------------------------
 21            Arlington & Bradley Office
               Center                                $80,004.00           Both                   $0.00
-------------------------------------------------------------------------------------------------------
 23            780 James P. Casey Road              $174,999.96           Both              $70,000.00
-------------------------------------------------------------------------------------------------------
 24            800 Apollo                           $500,000.00           Both                   $0.00
-------------------------------------------------------------------------------------------------------
 25            Regent Industrial Center             $144,000.00           Both                   $0.00
-------------------------------------------------------------------------------------------------------
 26            Sarasota Gateway                     $132,086.04           Both                   $0.00
-------------------------------------------------------------------------------------------------------
 27            Bristol Farms Apartments                   $0.00           Both             $500,000.00
-------------------------------------------------------------------------------------------------------
 28            Country View Mobile Home Park              $0.00           Both                   $0.00
-------------------------------------------------------------------------------------------------------
 29            University Commons                         $0.00           Both                   $0.00
-------------------------------------------------------------------------------------------------------
 30            Princeton Square Apartments                $0.00           Both             $227,750.00
-------------------------------------------------------------------------------------------------------
 31            Burlington Center Mall                $50,000.00           Both                   $0.00
-------------------------------------------------------------------------------------------------------
 32            Club at Tranquility Lake                   $0.00           Both                   $0.00
-------------------------------------------------------------------------------------------------------
 33            Warner Center Business Park           $75,000.00           Both             $441,925.00
-------------------------------------------------------------------------------------------------------
 34            Expressway Mall                       $88,812.00           Both                   $0.00
-------------------------------------------------------------------------------------------------------
 35            Airline Shopping Center                $9,999,96           Both                   $0.00
-------------------------------------------------------------------------------------------------------
 36            Windward Village Shopping
               Center                                $30,168.00           Both                   $0.00
-------------------------------------------------------------------------------------------------------
 37            Playa Blanca Apartments                    $0.00           Both              $40,000.00
-------------------------------------------------------------------------------------------------------
 38            Torrey View Corporate Center               $0.00           Both                   $0.00
-------------------------------------------------------------------------------------------------------
 41            The Moorings Apartments                    $0.00           Both                   $0.00
-------------------------------------------------------------------------------------------------------
 42            5th & Lamar Retail/Office
               Development                           $30,000.00           Insurance              $0.00
-------------------------------------------------------------------------------------------------------
 43            American Village on the Lake
               Apartments                                 $0.00           Both              $48,000.00
-------------------------------------------------------------------------------------------------------
 44            Ryan's Pointe Apartments                   $0.00           Both                   $0.00
-------------------------------------------------------------------------------------------------------
 45            Cleveland Street Square                    $0.00           Both                   $0.00
-------------------------------------------------------------------------------------------------------
 47            Rivermont Apartments                       $0.00           Both             $100,000.00
-------------------------------------------------------------------------------------------------------
 50            Westover Gallery Shopping
               Center                                $50,004.00           Both                   $0.00
-------------------------------------------------------------------------------------------------------
 53            Trestles of Houston Apartments             $0.00           Both                   $0.00
-------------------------------------------------------------------------------------------------------
 54            Pemstar, Inc. Headquarters                 $0.00           None                   $0.00
-------------------------------------------------------------------------------------------------------
 56            Riverbend Apartments                       $0.00           Both                   $0.00
-------------------------------------------------------------------------------------------------------
 57            D'Adrian Meadows Apartments                $0.00           Both               $5,400.00
-------------------------------------------------------------------------------------------------------
 58            Park Place                            $50,400.00           Both                   $0.00
-------------------------------------------------------------------------------------------------------
 59            Millstone Lakes Apartments                 $0.00           Both                   $0.00
-------------------------------------------------------------------------------------------------------
 61            Aspen Woods                                $0.00           Both                   $0.00
-------------------------------------------------------------------------------------------------------
 62            Iliff Commons Shopping Center              $0.00           Both                   $0.00
-------------------------------------------------------------------------------------------------------
 63            Atlantic Boulevard Shopping
               Center                                $60,000.00           Both                   $0.00
-------------------------------------------------------------------------------------------------------
 64            Shoppes at Brandon Farms              $18,000.00           Both                   $0.00
-------------------------------------------------------------------------------------------------------
 65            Court Street Plaza Shopping
               Center                                     $0.00           Both                   $0.00
-------------------------------------------------------------------------------------------------------
</TABLE>

                                                                II-4
<PAGE>

<TABLE>
<CAPTION>
                                                             Interest
                                                 Mortgage   Calculation                   First
                                                 Interest    (30/360 /        Monthly     Payment    Maturity
  #   Crossed  Loan Name                           Rate     Actual/360)       Payment      Date        Date       ARD (8)
--------------------------------------------------------------------------------------------------------------------------
<S>    <C>     <C>                               <C>        <C>             <C>           <C>        <C>          <C>
 67            300 Alexander Park                 5.870%    Actual/360       $31,038.96   5/11/2003   4/11/2013    N/A
--------------------------------------------------------------------------------------------------------------------------
 68            4861 & 4891 Telsa Drive            5.750%    Actual/360       $30,579.22   4/11/2003   3/11/2013    N/A
--------------------------------------------------------------------------------------------------------------------------
 69            Longview Meadow Apartments         5.660%    Actual/360       $30,049.14   6/11/2003   5/11/2013    N/A
--------------------------------------------------------------------------------------------------------------------------
 70            8501 LaSalle Road                  5.750%    Actual/360       $30,345.79   5/11/2003   4/11/2013    N/A
--------------------------------------------------------------------------------------------------------------------------
 71            Trestles of Baytown Apartments     6.435%    Actual/360       $32,684.80   2/11/2003   1/11/2013    N/A
--------------------------------------------------------------------------------------------------------------------------
 72            Santa Fe Place Apartments          5.400%    Actual/360       $31,318.69   6/11/2003   5/11/2013    N/A
--------------------------------------------------------------------------------------------------------------------------
 73            Plumtree Professional Center       5.680%    Actual/360       $29,246.25   4/11/2003   3/11/2013    N/A
--------------------------------------------------------------------------------------------------------------------------
 75            Canyon Woods Apartments            5.340%    Actual/360       $27,331.77   7/11/2003   6/11/2013    N/A
--------------------------------------------------------------------------------------------------------------------------
 76            Grove Street                       5.970%    Actual/360       $31,480.97   7/11/2003   6/11/2013    N/A
--------------------------------------------------------------------------------------------------------------------------
 78            Ashley Park Apartments             6.260%    Actual/360       $29,893.83   2/11/2003   1/11/2013    N/A
--------------------------------------------------------------------------------------------------------------------------
 79            Rosemont Retail Center             5.830%    Actual/360       $28,020.45   6/11/2003   5/11/2013    N/A
--------------------------------------------------------------------------------------------------------------------------
 81            Cardinal Shopping Center           5.500%    Actual/360       $26,345.41   7/11/2003   6/11/2013    N/A
--------------------------------------------------------------------------------------------------------------------------
 82            Grogan's Mill Village Center       6.040%    Actual/360       $27,246.14   4/11/2003   3/11/2013    N/A
--------------------------------------------------------------------------------------------------------------------------
 83            Atlas Valley Shopping Center       6.200%    Actual/360       $26,642.40   4/11/2003   3/11/2013    N/A
--------------------------------------------------------------------------------------------------------------------------
 84            Heights Garden Apartments          5.580%    Actual/360       $24,745.76   5/11/2003   4/11/2013    N/A
--------------------------------------------------------------------------------------------------------------------------
 85            Radnor Towers Apartments           5.700%    Actual/360       $24,667.02   8/11/2003   7/11/2013    N/A
--------------------------------------------------------------------------------------------------------------------------
 87            10 Canebrake Boulevard             5.800%    Actual/360       $24,203.56   8/11/2003   7/11/2013    N/A
--------------------------------------------------------------------------------------------------------------------------
 88            The Forest Apartments              6.140%    Actual/360       $24,647.53   3/11/2003   2/11/2013    N/A
--------------------------------------------------------------------------------------------------------------------------
 89            Gristedes - 3rd Ave. and 36th
               Street                             5.390%    Actual/360       $22,436.27   8/11/2003   7/11/2013    N/A
--------------------------------------------------------------------------------------------------------------------------
 90            111 & 121 Roberts Street           5.870%    Actual/360       $25,136.94   4/11/2003   3/11/2013    N/A
--------------------------------------------------------------------------------------------------------------------------
 91            Richland Village Shopping
               Center                             6.180%    Actual/360       $22,613.36   4/11/2003   3/11/2013    N/A
--------------------------------------------------------------------------------------------------------------------------
 92            Pacific West Apartments            5.730%    Actual/360       $21,545.21   4/11/2003   3/11/2013    N/A
--------------------------------------------------------------------------------------------------------------------------
 93            Atrium Medical Office Building     5.630%    Actual/360       $21,310.97   2/11/2003   1/11/2013    N/A
--------------------------------------------------------------------------------------------------------------------------
 94            Wingate Inn Fayetteville           6.510%    Actual/360       $24,329.96   7/11/2003   6/11/2013    N/A
--------------------------------------------------------------------------------------------------------------------------
 95            Millside Building                  6.040%    Actual/360       $21,525.96   4/11/2003   3/11/2013    N/A
--------------------------------------------------------------------------------------------------------------------------
 100           Market at Southern Pines           5.580%    Actual/360       $19,132.14   7/11/2003   6/11/2013    N/A
--------------------------------------------------------------------------------------------------------------------------
 101           Palm Shadows MH & RV Park          5.750%    Actual/360       $18,966.12   6/11/2003   5/11/2013    N/A
--------------------------------------------------------------------------------------------------------------------------
 103           Anderson Oaks Mobile Home Park     5.890%    Actual/360       $18,959.90   7/11/2003   6/11/2013    N/A
--------------------------------------------------------------------------------------------------------------------------
 108           Magic Valley Park                  5.800%    Actual/360       $17,015.84   6/11/2003   5/11/2013    N/A
--------------------------------------------------------------------------------------------------------------------------
 109           River Park Apartments              5.480%    Actual/360       $16,287.88   5/11/2003   4/11/2013    N/A
--------------------------------------------------------------------------------------------------------------------------
 110           Portway Plaza Office Building      5.750%    Actual/360       $16,631.83   4/11/2003   3/11/2013    N/A
--------------------------------------------------------------------------------------------------------------------------
 111           Marigold Apartments                5.500%    Actual/360       $15,898.09   5/11/2003   4/11/2013    N/A
--------------------------------------------------------------------------------------------------------------------------
 112           Carlton Apartments                 6.100%    Actual/360       $16,967.85   1/11/2003  12/11/2012    N/A
--------------------------------------------------------------------------------------------------------------------------
 113    (D)    Ramey's Mobile Home Park           6.140%    Actual/360       $12,172.12   6/11/2003   5/11/2013    N/A
--------------------------------------------------------------------------------------------------------------------------
 114    (D)    Bexley Mobile Home Park            6.140%    Actual/360        $7,998.82   6/11/2003   5/11/2013    N/A
--------------------------------------------------------------------------------------------------------------------------
 117           Lincoln Professional Plaza         5.650%    Actual/360       $14,719.51   6/11/2003   5/11/2013    N/A
--------------------------------------------------------------------------------------------------------------------------
 118           Santa Grande Mobile Home Park      5.800%    Actual/360       $14,815.51   4/11/2003   3/11/2013    N/A
--------------------------------------------------------------------------------------------------------------------------
 119           301 N. Brand Blvd.                 6.530%    Actual/360       $15,851.06   4/11/2003   3/11/2013    N/A
--------------------------------------------------------------------------------------------------------------------------
 120           Tropicana Del Este Apartments      5.750%    Actual/360       $14,443.43   5/11/2003   4/11/2013    N/A
--------------------------------------------------------------------------------------------------------------------------
 123           Sundance Village MHP               5.880%    Actual/360       $14,969.17   6/11/2003   5/11/2013    N/A
--------------------------------------------------------------------------------------------------------------------------
 124           University Plaza                   5.690%    Actual/360       $13,450.59   6/11/2003   5/11/2013    N/A
--------------------------------------------------------------------------------------------------------------------------
 125           Campbell Station Shopping
               Center                             6.010%    Actual/360       $13,954.50   3/11/2003   2/11/2013    N/A
--------------------------------------------------------------------------------------------------------------------------
 126           Southwest Storage                  6.410%    Actual/360       $15,400.67   5/11/2003   4/11/2013    N/A
--------------------------------------------------------------------------------------------------------------------------
 129           Greenbriar MHP                     5.880%    Actual/360       $13,376.71   6/11/2003   5/11/2013    N/A
--------------------------------------------------------------------------------------------------------------------------
 130           Trafalgar Square Apartments        5.600%    Actual/360       $11,481.58   5/11/2003   4/11/2013    N/A
--------------------------------------------------------------------------------------------------------------------------
 131           Queens Lane Apartments             5.730%    Actual/360       $11,646.06   6/11/2003   5/11/2013    N/A
--------------------------------------------------------------------------------------------------------------------------
 133           327 East 52nd Street               5.700%    Actual/360       $12,020.90   7/11/2003   6/11/2013    N/A
--------------------------------------------------------------------------------------------------------------------------
 134           Naples Place IV                    5.630%    Actual/360       $11,940.00   6/11/2003   5/11/2008    N/A
--------------------------------------------------------------------------------------------------------------------------
 135           Park City Shopping Center          6.130%    Actual/360       $13,574.08   4/11/2003   3/11/2013    N/A
--------------------------------------------------------------------------------------------------------------------------
 136           Kennesaw Promenade                 6.160%    Actual/360       $11,774.11   6/11/2003   5/11/2028  5/11/2013
--------------------------------------------------------------------------------------------------------------------------
 137           Lakewood Village - FL              5.500%    Actual/360       $14,707.50   7/11/2003   6/11/2018    N/A
--------------------------------------------------------------------------------------------------------------------------
 139           2317-2335 Market Street            6.370%    Actual/360       $10,912.00   4/11/2003   3/11/2013    N/A
--------------------------------------------------------------------------------------------------------------------------
 140           Gloucester Apartments              5.800%    Actual/360       $10,268.18   4/11/2003   3/11/2013    N/A
--------------------------------------------------------------------------------------------------------------------------

<CAPTION>

                                                  Prepayment
                                                  Provision    Defeas-           Servicing                Contractual
                                                    as of      ance     Yield       and     Engineering    Recurring       LC & TI
                                                 Origination   Option  Mainten-   Trustee    Reserve at    Replacement    Reserve at
  #   Crossed  Loan Name                             (9)        (10)  ance Spread  Fees     Origination   Reserve/FF&E   Origination
------------------------------------------------------------------------------------------------------------------------------------
<S>   <C>      <C>                             <C>               <C>    <C>        <C>      <C>             <C>            <C>
 67            300 Alexander Park              Lock/117_0.0%/3   Yes     N/A       0.0318%        $0.00      $7,220.00           $0
------------------------------------------------------------------------------------------------------------------------------------
 68            4861 & 4891 Telsa Drive         Lock/117_0.0%/3   Yes     N/A       0.0618%        $0.00      $6,111.96           $0
------------------------------------------------------------------------------------------------------------------------------------
 69            Longview Meadow Apartments      Lock/117_0.0%/3   Yes     N/A       0.0318%        $0.00     $27,000.00           $0
------------------------------------------------------------------------------------------------------------------------------------
 70            8501 LaSalle Road               Lock/117_0.0%/3   Yes     N/A       0.0318%   $55,438.00     $15,348.00           $0
------------------------------------------------------------------------------------------------------------------------------------
 71            Trestles of Baytown Apartments  Lock/117_0.0%/3   Yes     N/A       0.0318%   $55,938.00     $55,000.00           $0
------------------------------------------------------------------------------------------------------------------------------------
 72            Santa Fe Place Apartments       Lock/117_0.0%/3   Yes     N/A       0.0318%   $12,500.00     $81,750.00           $0
------------------------------------------------------------------------------------------------------------------------------------
 73            Plumtree Professional Center    Lock/117_0.0%/3   Yes     N/A       0.0318%   $77,500.00      $7,689.00           $0
------------------------------------------------------------------------------------------------------------------------------------
 75            Canyon Woods Apartments         Lock/117_0.0%/3   Yes     N/A       0.0318%    $2,437.00     $56,000.04           $0
------------------------------------------------------------------------------------------------------------------------------------
 76            Grove Street                    Lock/117_0.0%/3   Yes     N/A       0.0318%  $172,000.00     $13,524.00           $0
------------------------------------------------------------------------------------------------------------------------------------
 78            Ashley Park Apartments          Lock/117_0.0%/3   Yes     N/A       0.0318%   $31,000.00     $50,000.00           $0
------------------------------------------------------------------------------------------------------------------------------------
 79            Rosemont Retail Center          Lock/117_0.0%/3   Yes     N/A       0.0318%        $0.00          $0.00      $93,010
------------------------------------------------------------------------------------------------------------------------------------
 81            Cardinal Shopping Center        Lock/117_0.0%/3   Yes     N/A       0.0318%        $0.00          $0.00           $0
------------------------------------------------------------------------------------------------------------------------------------
 82            Grogan's Mill Village Center    Lock/117_0.0%/3   Yes     N/A       0.1118%        $0.00          $0.00      $50,000
------------------------------------------------------------------------------------------------------------------------------------
 83            Atlas Valley Shopping Center    Lock/42_YM1/75_
                                               0.0%/3            No  0.0%T-Flat    0.0318%        $0.00          $0.00           $0
------------------------------------------------------------------------------------------------------------------------------------
 84            Heights Garden Apartments       Lock/117_0.0%/3   Yes     N/A       0.0318%  $150,000.00     $29,376.00           $0
------------------------------------------------------------------------------------------------------------------------------------
 85            Radnor Towers Apartments        Lock/117_0.0%/3   Yes     N/A       0.0318%  $105,026.00     $47,749.92           $0
------------------------------------------------------------------------------------------------------------------------------------
 87            10 Canebrake Boulevard          Lock/117_0.0%/3   Yes     N/A       0.0318%        $0.00      $7,954.08           $0
------------------------------------------------------------------------------------------------------------------------------------
 88            The Forest Apartments           Lock/117_0.0%/3   Yes     N/A       0.0318%  $143,094.00     $48,000.00           $0
------------------------------------------------------------------------------------------------------------------------------------
 89            Gristedes - 3rd Ave. and 36th
               Street                          Lock/117_0.0%/3   Yes     N/A       0.0318%        $0.00      $1,800.00           $0
------------------------------------------------------------------------------------------------------------------------------------
 90            111 & 121 Roberts Street        Lock/117_0.0%/3   Yes     N/A       0.0318%        $0.00     $13,020.00           $0
------------------------------------------------------------------------------------------------------------------------------------
 91            Richland Village Shopping
               Center                          Lock/117_0.0%/3   Yes     N/A       0.0818%    $1,875.00          $0.00           $0
------------------------------------------------------------------------------------------------------------------------------------
 92            Pacific West Apartments         Lock/117_0.0%/3   Yes     N/A       0.0318%   $21,875.00     $36,000.00           $0
------------------------------------------------------------------------------------------------------------------------------------
 93            Atrium Medical Office Building  Lock/117_0.0%/3   Yes     N/A       0.0318%        $0.00          $0.00           $0
------------------------------------------------------------------------------------------------------------------------------------
 94            Wingate Inn Fayetteville        Lock/116_0.0%/4   Yes     N/A       0.0318%        $0.00          $0.00           $0
------------------------------------------------------------------------------------------------------------------------------------
 95            Millside Building               Lock/117_0.0%/3   Yes     N/A       0.1118%   $66,671.00          $0.00      $50,000
------------------------------------------------------------------------------------------------------------------------------------
 100           Market at Southern Pines        Lock/117_0.0%/3   Yes     N/A       0.0318%        $0.00      $3,564.00           $0
------------------------------------------------------------------------------------------------------------------------------------
 101           Palm Shadows MH & RV Park       Lock/117_0.0%/3   Yes     N/A       0.0318%        $0.00          $0.00           $0
------------------------------------------------------------------------------------------------------------------------------------
 103           Anderson Oaks Mobile Home Park  Lock/114_0.0%/6   Yes     N/A       0.0318%   $20,375.00      $8,750.04           $0
------------------------------------------------------------------------------------------------------------------------------------
 108           Magic Valley Park               Lock/117_0.0%/3   Yes     N/A       0.0318%        $0.00          $0.00           $0
------------------------------------------------------------------------------------------------------------------------------------
 109           River Park Apartments           Lock/117_0.0%/3   Yes     N/A       0.0318%        $0.00     $24,999.96           $0
------------------------------------------------------------------------------------------------------------------------------------
 110           Portway Plaza Office Building   Lock/117_0.0%/3   Yes     N/A       0.0318%   $36,312.00     $10,068.36     $125,000
------------------------------------------------------------------------------------------------------------------------------------
 111           Marigold Apartments             Lock/117_0.0%/3   Yes     N/A       0.0318%   $23,931.00     $29,000.00           $0
------------------------------------------------------------------------------------------------------------------------------------
 112           Carlton Apartments              Lock/117_0.0%/3   Yes     N/A       0.0318%  $100,375.00     $27,000.00           $0
------------------------------------------------------------------------------------------------------------------------------------
 113    (D)    Ramey's Mobile Home Park        Lock/114_0.0%/6   Yes     N/A       0.0318%   $62,500.00      $7,100.04           $0
------------------------------------------------------------------------------------------------------------------------------------
 114    (D)    Bexley Mobile Home Park         Lock/114_0.0%/6   Yes     N/A       0.0318%   $20,625.00      $5,700.00           $0
------------------------------------------------------------------------------------------------------------------------------------
 117           Lincoln Professional Plaza      Lock/40_YM1/77_
                                               0.0%/3            No  0.0%T-Flat    0.0318%        $0.00          $0.00           $0
------------------------------------------------------------------------------------------------------------------------------------
 118           Santa Grande Mobile Home Park   Lock/114_0.0%/6   Yes     N/A       0.0318%   $60,163.00      $5,564.04           $0
------------------------------------------------------------------------------------------------------------------------------------
 119           301 N. Brand Blvd.              Lock/114_0.0%/6   Yes     N/A       0.0318%    $5,000.00          $0.00           $0
------------------------------------------------------------------------------------------------------------------------------------
 120           Tropicana Del Este Apartments   Lock/117_0.0%/3   Yes     N/A       0.0318%        $0.00     $14,250.00           $0
------------------------------------------------------------------------------------------------------------------------------------
 123           Sundance Village MHP            Lock/114_0.0%/6   Yes     N/A       0.0318%  $558,810.00      $8,000.04           $0
------------------------------------------------------------------------------------------------------------------------------------
 124           University Plaza                Lock/117_0.0%/3   Yes     N/A       0.0318%        $0.00          $0.00           $0
------------------------------------------------------------------------------------------------------------------------------------
 125           Campbell Station Shopping
               Center                          Lock/117_0.0%/3   Yes     N/A       0.0318%        $0.00          $0.00           $0
------------------------------------------------------------------------------------------------------------------------------------
 126           Southwest Storage               Lock/114_0.0%/6   Yes     N/A       0.0318%      $625.00          $0.00           $0
------------------------------------------------------------------------------------------------------------------------------------
 129           Greenbriar MHP                  Lock/114_0.0%/6   Yes     N/A       0.0318%      $625.00      $6,999.96           $0
------------------------------------------------------------------------------------------------------------------------------------
 130           Trafalgar Square Apartments     Lock/116_0.0%/4   Yes     N/A       0.0318%        $0.00     $11,199.96           $0
------------------------------------------------------------------------------------------------------------------------------------
 131           Queens Lane Apartments          Lock/117_0.0%/3   Yes     N/A       0.0318%   $92,500.00     $21,750.00           $0
------------------------------------------------------------------------------------------------------------------------------------
 133           327 East 52nd Street            Lock/114_0.0%/3   Yes     N/A       0.0318%    $6,000.00      $2,250.00           $0
------------------------------------------------------------------------------------------------------------------------------------
 134           Naples Place IV                 Lock/54_0.0%/6    Yes     N/A       0.0318%  $112,650.00     $13,250.00           $0
------------------------------------------------------------------------------------------------------------------------------------
 135           Park City Shopping Center       Lock/116_0.0%/4   Yes     N/A       0.0318%   $10,618.00     $10,055.04      $30,000
------------------------------------------------------------------------------------------------------------------------------------
 136           Kennesaw Promenade              Lock/114_0.0%/6   Yes     N/A       0.0318%   $11,375.00          $0.00           $0
------------------------------------------------------------------------------------------------------------------------------------
 137           Lakewood Village - FL           Lock/174_0.0%/6   Yes     N/A       0.0318%        $0.00          $0.00           $0
------------------------------------------------------------------------------------------------------------------------------------
 139           2317-2335 Market Street         Lock/114_0.0%/6   Yes     N/A       0.0318%    $9,625.00      $1,250.04           $0
------------------------------------------------------------------------------------------------------------------------------------
 140           Gloucester Apartments           Lock/114_0.0%/6   Yes     N/A       0.0318%    $2,625.00      $8,000.04           $0
------------------------------------------------------------------------------------------------------------------------------------

<CAPTION>

                                                    Contractual           Tax &              Initial
                                                     Recurring          Insurance             Other
  #   Crossed  Loan Name                               LC&TI             Escrows             Reserve
-------------------------------------------------------------------------------------------------------
<S>   <C>      <C>                                  <C>                   <C>              <C>
 67            300 Alexander Park                    $50,000.00           Tax                    $0.00
-------------------------------------------------------------------------------------------------------
 68            4861 & 4891 Telsa Drive                    $0.00           Both                   $0.00
-------------------------------------------------------------------------------------------------------
 69            Longview Meadow Apartments                 $0.00           Both                   $0.00
-------------------------------------------------------------------------------------------------------
 70            8501 LaSalle Road                     $50,004.00           Both                   $0.00
-------------------------------------------------------------------------------------------------------
 71            Trestles of Baytown Apartments             $0.00           Both                   $0.00
-------------------------------------------------------------------------------------------------------
 72            Santa Fe Place Apartments                  $0.00           Both                   $0.00
-------------------------------------------------------------------------------------------------------
 73            Plumtree Professional Center          $39,996.00           Both                   $0.00
-------------------------------------------------------------------------------------------------------
 75            Canyon Woods Apartments                    $0.00           Both                   $0.00
-------------------------------------------------------------------------------------------------------
 76            Grove Street                          $45,072.00           Both                   $0.00
-------------------------------------------------------------------------------------------------------
 78            Ashley Park Apartments                     $0.00           Both                   $0.00
-------------------------------------------------------------------------------------------------------
 79            Rosemont Retail Center                  $7,800.00          Both                   $0.00
-------------------------------------------------------------------------------------------------------
 81            Cardinal Shopping Center               $12,000.00          Both                   $0.00
-------------------------------------------------------------------------------------------------------
 82            Grogan's Mill Village Center           $24,000.00          Both                   $0.00
-------------------------------------------------------------------------------------------------------
 83            Atlas Valley Shopping Center           $12,000.00          Both               $4,780.00
-------------------------------------------------------------------------------------------------------
 84            Heights Garden Apartments                   $0.00          Both                   $0.00
-------------------------------------------------------------------------------------------------------
 85            Radnor Towers Apartments                    $0.00          Both               $8,600.00
-------------------------------------------------------------------------------------------------------
 87            10 Canebrake Boulevard                 $51,999.96          Both                   $0.00
-------------------------------------------------------------------------------------------------------
 88            The Forest Apartments                       $0.00          Both                   $0.00
-------------------------------------------------------------------------------------------------------
 89            Gristedes - 3rd Ave. and 36th
               Street                                      $0.00          Both              $28,516.50
-------------------------------------------------------------------------------------------------------
 90            111 & 121 Roberts Street               $43,800.00          Both                   $0.00
-------------------------------------------------------------------------------------------------------
 91            Richland Village Shopping
               Center                                 $48,000.00          Both                   $0.00
-------------------------------------------------------------------------------------------------------
 92            Pacific West Apartments                     $0.00          Both                   $0.00
-------------------------------------------------------------------------------------------------------
 93            Atrium Medical Office Building         $35,004.00          Both                   $0.00
-------------------------------------------------------------------------------------------------------
 94            Wingate Inn Fayetteville                    $0.00          Both                   $0.00
-------------------------------------------------------------------------------------------------------
 95            Millside Building                      $43,992.00          Both                   $0.00
-------------------------------------------------------------------------------------------------------
 100           Market at Southern Pines               $12,000.00          Both                   $0.00
-------------------------------------------------------------------------------------------------------
 101           Palm Shadows MH & RV Park                   $0.00          Both                   $0.00
-------------------------------------------------------------------------------------------------------
 103           Anderson Oaks Mobile Home Park              $0.00          Both                   $0.00
-------------------------------------------------------------------------------------------------------
 108           Magic Valley Park                           $0.00          Both                   $0.00
-------------------------------------------------------------------------------------------------------
 109           River Park Apartments                       $0.00          Both                   $0.00
-------------------------------------------------------------------------------------------------------
 110           Portway Plaza Office Building          $57,053.76          Both              $50,000.00
-------------------------------------------------------------------------------------------------------
 111           Marigold Apartments                         $0.00          Both               $4,000.00
-------------------------------------------------------------------------------------------------------
 112           Carlton Apartments                          $0.00          Both                   $0.00
-------------------------------------------------------------------------------------------------------
 113    (D)    Ramey's Mobile Home Park                    $0.00          Both                   $0.00
-------------------------------------------------------------------------------------------------------
 114    (D)    Bexley Mobile Home Park                     $0.00          Both                   $0.00
-------------------------------------------------------------------------------------------------------
 117           Lincoln Professional Plaza             $18,000.00          Both                   $0.00
-------------------------------------------------------------------------------------------------------
 118           Santa Grande Mobile Home Park               $0.00          Both                   $0.00
-------------------------------------------------------------------------------------------------------
 119           301 N. Brand Blvd.                     $20,000.04          Both                   $0.00
-------------------------------------------------------------------------------------------------------
 120           Tropicana Del Este Apartments               $0.00          Both                   $0.00
-------------------------------------------------------------------------------------------------------
 123           Sundance Village MHP                        $0.00          Both                   $0.00
-------------------------------------------------------------------------------------------------------
 124           University Plaza                            $0.00          Both                   $0.00
-------------------------------------------------------------------------------------------------------
 125           Campbell Station Shopping
               Center                                 $14,700.00          Both                   $0.00
-------------------------------------------------------------------------------------------------------
 126           Southwest Storage                           $0.00          Both                   $0.00
-------------------------------------------------------------------------------------------------------
 129           Greenbriar MHP                              $0.00          Both                   $0.00
-------------------------------------------------------------------------------------------------------
 130           Trafalgar Square Apartments                 $0.00          Both                   $0.00
-------------------------------------------------------------------------------------------------------
 131           Queens Lane Apartments                      $0.00          Both                   $0.00
-------------------------------------------------------------------------------------------------------
 133           327 East 52nd Street                        $0.00          Both                   $0.00
-------------------------------------------------------------------------------------------------------
 134           Naples Place IV                             $0.00          Both                   $0.00
-------------------------------------------------------------------------------------------------------
 135           Park City Shopping Center              $46,920.96          Both                   $0.00
-------------------------------------------------------------------------------------------------------
 136           Kennesaw Promenade                     $27,804.00          Both                   $0.00
-------------------------------------------------------------------------------------------------------
 137           Lakewood Village - FL                       $0.00          Both                   $0.00
-------------------------------------------------------------------------------------------------------
 139           2317-2335 Market Street                     $0.00          Both                   $0.00
-------------------------------------------------------------------------------------------------------
 140           Gloucester Apartments                       $0.00          Both                   $0.00
-------------------------------------------------------------------------------------------------------
</TABLE>

                                      II-5
<PAGE>

<TABLE>
<CAPTION>
                                                             Interest
                                                 Mortgage   Calculation                   First
                                                 Interest    (30/360 /        Monthly     Payment    Maturity
  #   Crossed  Loan Name                           Rate     Actual/360)       Payment      Date        Date       ARD (8)
--------------------------------------------------------------------------------------------------------------------------
<S>    <C>     <C>                               <C>        <C>             <C>           <C>        <C>          <C>
 141           Bayou Villa Apartments             5.730%    Actual/360        $9,899.15   6/11/2003   5/11/2013    N/A
--------------------------------------------------------------------------------------------------------------------------
 142           South Michigan Avenue Office
               Building                           6.210%    Actual/360       $11,172.38   3/11/2003   2/11/2008    N/A
--------------------------------------------------------------------------------------------------------------------------
 143           Gateway Retail Center              6.300%    Actual/360       $10,058.31   6/11/2003   5/11/2013    N/A
--------------------------------------------------------------------------------------------------------------------------
 144           Murphy Retail Center               6.150%    Actual/360       $11,783.06   4/11/2003   3/11/2013    N/A
--------------------------------------------------------------------------------------------------------------------------
 145           Anaheim Street Retail Center       6.280%    Actual/360       $10,584.40   6/11/2003   5/11/2013    N/A
--------------------------------------------------------------------------------------------------------------------------
 146           Park Street Retail                 6.000%    Actual/360        $9,728.95   7/11/2003   6/11/2013    N/A
--------------------------------------------------------------------------------------------------------------------------
 147           Sprinkle Ridge Apartments          5.650%    Actual/360        $8,658.54   7/11/2003   6/11/2013    N/A
--------------------------------------------------------------------------------------------------------------------------
 148           Melonie Square                     5.860%    Actual/360        $9,536.56   5/11/2003   4/11/2013    N/A
--------------------------------------------------------------------------------------------------------------------------
 149           7000 North Freeway                 6.510%    Actual/360       $12,594.50   6/11/2003   5/11/2019    N/A
--------------------------------------------------------------------------------------------------------------------------
 150           Sunny Isle Apartments              5.950%    Actual/360        $9,233.98   4/11/2003   3/11/2013    N/A
--------------------------------------------------------------------------------------------------------------------------
 151           Nichols Station I Apartments       5.410%    Actual/360        $8,066.93   4/11/2003   3/11/2013    N/A
--------------------------------------------------------------------------------------------------------------------------
 152           Biddeford Apartments               6.390%    Actual/360        $8,747.92   6/11/2003   5/11/2013    N/A
--------------------------------------------------------------------------------------------------------------------------
 153           Mount Vernon Apartments            5.870%    Actual/360        $8,654.74   7/11/2003   6/11/2013    N/A
--------------------------------------------------------------------------------------------------------------------------
 154           Cambridge Estates Apts (Phase
               III)                               5.600%    Actual/360       $11,102.40   8/11/2003   7/11/2018    N/A
--------------------------------------------------------------------------------------------------------------------------
 155           South Ynez Apartments              5.850%    Actual/360        $8,098.33   5/11/2003   4/11/2013    N/A
--------------------------------------------------------------------------------------------------------------------------
 156           Colorado Square / Medlin Place
               Apartments                         5.900%    Actual/360        $8,041.35   5/11/2003   4/11/2008    N/A
--------------------------------------------------------------------------------------------------------------------------
 157           Country Oaks Mobile Home Park      5.700%    Actual/360        $7,763.50   8/11/2003   7/11/2010    N/A
--------------------------------------------------------------------------------------------------------------------------
 158           Greenville Retail Center           6.150%    Actual/360        $8,882.62   4/11/2003   3/11/2013    N/A
--------------------------------------------------------------------------------------------------------------------------
 159           Cliffview Crossing                 6.130%    Actual/360        $7,827.26   6/11/2003   5/11/2013    N/A
--------------------------------------------------------------------------------------------------------------------------
 160           Grove Apartments                   6.300%    Actual/360        $7,953.16   5/11/2003   4/11/2013    N/A
--------------------------------------------------------------------------------------------------------------------------
 161           Greentree Apartments               6.100%    Actual/360       $10,191.23   6/11/2003   5/11/2018    N/A
--------------------------------------------------------------------------------------------------------------------------
 162           Coachlite Apartments               5.250%    Actual/360        $6,074.24   8/11/2003   7/11/2013    N/A
--------------------------------------------------------------------------------------------------------------------------
 163           Northgate Terrace I Apartments     5.940%    Actual/360        $7,047.03   5/11/2003   4/11/2013    N/A
--------------------------------------------------------------------------------------------------------------------------
 164           150 Broad Street                   6.010%    Actual/360        $6,449.13   7/11/2003   6/11/2013    N/A
--------------------------------------------------------------------------------------------------------------------------
 165           Sunset Avenue Apartments           6.110%    Actual/360        $5,945.08   5/11/2003   4/11/2013    N/A
--------------------------------------------------------------------------------------------------------------------------
 166           Classic Village                    6.430%    Actual/360        $6,540.69   6/11/2003   5/11/2013    N/A
--------------------------------------------------------------------------------------------------------------------------
 167           Knox Landing Apartments            5.700%    Actual/360        $5,947.84   7/11/2003   6/11/2013    N/A
--------------------------------------------------------------------------------------------------------------------------
 168           1013 West Linden Street            6.220%    Actual/360        $5,032.29   6/11/2003   5/11/2013    N/A
--------------------------------------------------------------------------------------------------------------------------
 169           Ledgewood Mobile Home Park         6.180%    Actual/360        $4,980.65   6/11/2003   5/11/2013    N/A
--------------------------------------------------------------------------------------------------------------------------
 170           83 Elizabeth Street                5.750%    Actual/360        $3,793.22   6/11/2003   5/11/2013    N/A
--------------------------------------------------------------------------------------------------------------------------
 171           1235 Elm Street                    6.360%    Actual/360        $3,871.11   6/11/2003   5/11/2013    N/A
--------------------------------------------------------------------------------------------------------------------------
116A           El Valle del Sol                   5.970%    Actual/360       $11,952.46   5/11/2003   4/11/2013    N/A
--------------------------------------------------------------------------------------------------------------------------
116B           El Valle de la Luna                5.970%    Actual/360        $3,585.74   5/11/2003   4/11/2013    N/A
--------------------------------------------------------------------------------------------------------------------------
132A           San Juan Gardens                   6.010%    Actual/360        $7,064.28   5/11/2003   4/11/2013    N/A
--------------------------------------------------------------------------------------------------------------------------
132B           Friendly Village                   6.010%    Actual/360        $4,639.50   5/11/2003   4/11/2013    N/A
--------------------------------------------------------------------------------------------------------------------------

<CAPTION>

                                                  Prepayment
                                                  Provision    Defeas-           Servicing                Contractual
                                                    as of      ance     Yield       and     Engineering    Recurring       LC & TI
                                                 Origination   Option  Mainten-   Trustee    Reserve at    Replacement    Reserve at
  #   Crossed  Loan Name                             (9)        (10)  ance Spread  Fees     Origination   Reserve/FF&E   Origination
------------------------------------------------------------------------------------------------------------------------------------
<S>   <C>      <C>                             <C>              <C>  <C>          <C>       <C>           <C>             <C>
 141           Bayou Villa Apartments          Lock/117_0.0%/3   Yes     N/A       0.0318%        $0.00     $14,000.00           $0
------------------------------------------------------------------------------------------------------------------------------------
 142           South Michigan Avenue Office    Lock/43_YM1/14_
               Building                        0.0%/3            No  0.0%T-Flat    0.0318%    $1,375.00          $0.00           $0
------------------------------------------------------------------------------------------------------------------------------------
 143           Gateway Retail Center           Lock/40_YM1/77_   No  0.0%T-Flat    0.0318%        $0.00          $0.00      $25,000
                                               0.0%/3
------------------------------------------------------------------------------------------------------------------------------------
 144           Murphy Retail Center            Lock/116_0.0%/4   Yes     N/A       0.0318%        $0.00      $3,433.68           $0
------------------------------------------------------------------------------------------------------------------------------------
 145           Anaheim Street Retail Center    Lock/114_0.0%/6   Yes     N/A       0.0318%    $5,875.00          $0.00           $0
------------------------------------------------------------------------------------------------------------------------------------
 146           Park Street Retail              Lock/114_0.0%/6   Yes     N/A       0.0318%        $0.00          $0.00      $35,000
------------------------------------------------------------------------------------------------------------------------------------
 147           Sprinkle Ridge Apartments       Lock/114_0.0%/6   Yes     N/A       0.0318%    $6,371.00     $24,000.00           $0
------------------------------------------------------------------------------------------------------------------------------------
 148           Melonie Square                  Lock/117_0.0%/3   Yes     N/A       0.0318%   $26,563.00     $12,633.96           $0
------------------------------------------------------------------------------------------------------------------------------------
 149           7000 North Freeway              Lock/189_0.0%/3   Yes     N/A       0.0818%        $0.00          $0.00           $0
------------------------------------------------------------------------------------------------------------------------------------
 150           Sunny Isle Apartments           Lock/114_0.0%/6   Yes     N/A       0.0318%   $14,156.00      $8,499.96           $0
------------------------------------------------------------------------------------------------------------------------------------
 151           Nichols Station I Apartments    Lock/117_0.0%/3   Yes     N/A       0.0318%    $3,750.00      $8,496.00           $0
------------------------------------------------------------------------------------------------------------------------------------
 152           Biddeford Apartments            Lock/114_0.0%/6   Yes     N/A       0.0318%  $149,634.00     $10,000.00           $0
------------------------------------------------------------------------------------------------------------------------------------
 153           Mount Vernon Apartments         Lock/114_0.0%/6   Yes     N/A       0.0318%        $0.00      $9,999.96           $0
------------------------------------------------------------------------------------------------------------------------------------
 154           Cambridge Estates Apts (Phase
               III)                            Lock/174_0.0%/6   Yes     N/A       0.0318%    $1,250.00     $27,456.00           $0
------------------------------------------------------------------------------------------------------------------------------------
 155           South Ynez Apartments           Lock/114_0.0%/6   Yes     N/A       0.0318%    $3,125.00      $5,000.04           $0
------------------------------------------------------------------------------------------------------------------------------------
 156           Colorado Square / Medlin Place
               Apartments                      Lock/54_0.0%/6    Yes     N/A       0.0318%   $15,470.00     $16,250.00           $0
------------------------------------------------------------------------------------------------------------------------------------
 157           Country Oaks Mobile Home Park   Lock/78_0.0%/6    Yes     N/A       0.0318%   $10,438.00      $6,500.04           $0
------------------------------------------------------------------------------------------------------------------------------------
 158           Greenville Retail Center        Lock/116_0.0%/4   Yes     N/A       0.0318%        $0.00      $2,310.00           $0
------------------------------------------------------------------------------------------------------------------------------------
 159           Cliffview Crossing              Lock/117_0.0%/3   Yes     N/A       0.0318%    $6,762.50     $14,514.96           $0
------------------------------------------------------------------------------------------------------------------------------------
 160           Grove Apartments                Lock/114_0.0%/6   Yes     N/A       0.0318%    $1,350.00      $6,000.00           $0
------------------------------------------------------------------------------------------------------------------------------------
 161           Greentree Apartments            Lock/174_0.0%/6   Yes     N/A       0.0318%        $0.00     $17,000.00           $0
------------------------------------------------------------------------------------------------------------------------------------
 162           Coachlite Apartments            Lock/114_0.0%/6   Yes     N/A       0.0318%    $9,725.00     $15,999.96           $0
------------------------------------------------------------------------------------------------------------------------------------
 163           Northgate Terrace I Apartments  Lock/117_0.0%/3   Yes     N/A       0.0318%    $2,500.00     $18,000.00           $0
------------------------------------------------------------------------------------------------------------------------------------
 164           150 Broad Street                Lock/114_0.0%/6   Yes     N/A       0.0318%    $7,687.00          $0.00      $60,000
------------------------------------------------------------------------------------------------------------------------------------
 165           Sunset Avenue Apartments        Lock/114_0.0%/6   Yes     N/A       0.0318%        $0.00      $1,500.00           $0
------------------------------------------------------------------------------------------------------------------------------------
 166           Classic Village                 Lock/114_0.0%/6   Yes     N/A       0.0318%    $9,313.00          $0.00      $14,000
------------------------------------------------------------------------------------------------------------------------------------
 167           Knox Landing Apartments         Lock/39_YM1/78_
                                               0.0%/3            No    0.0%N/A     0.0318%   $27,469.00     $10,000.00           $0
------------------------------------------------------------------------------------------------------------------------------------
 168           1013 West Linden Street         Lock/114_0.0%/6   Yes     N/A       0.0318%   $37,693.00      $5,000.04           $0
------------------------------------------------------------------------------------------------------------------------------------
 169           Ledgewood Mobile Home Park      Lock/114_0.0%/6   Yes     N/A       0.0318%   $16,875.00      $3,050.04           $0
------------------------------------------------------------------------------------------------------------------------------------
 170           83 Elizabeth Street             Lock/114_0.0%/6   Yes     N/A       0.0318%    $1,500.00      $1,500.00           $0
------------------------------------------------------------------------------------------------------------------------------------
 171           1235 Elm Street                 Lock/40_YM1/77_
                                               0.0%/3            No  0.0%T-Flat    0.0318%   $13,188.00      $3,636.60           $0
------------------------------------------------------------------------------------------------------------------------------------
116A           El Valle del Sol                Lock/117_0.0%/3   Yes     N/A       0.0318%   $34,375.00          $0.00           $0
------------------------------------------------------------------------------------------------------------------------------------
116B           El Valle de la Luna             Lock/117_0.0%/3   Yes     N/A       0.0318%        $0.00          $0.00           $0
------------------------------------------------------------------------------------------------------------------------------------
132A           San Juan Gardens                Lock/117_0.0%/3   Yes     N/A       0.0318%    $4,338.60          $0.00           $0
------------------------------------------------------------------------------------------------------------------------------------
132B           Friendly Village                Lock/117_0.0%/3   Yes     N/A       0.0318%    $2,849.40          $0.00           $0
------------------------------------------------------------------------------------------------------------------------------------

<CAPTION>

                                                    Contractual           Tax &              Initial
                                                     Recurring          Insurance             Other
  #   Crossed  Loan Name                               LC&TI             Escrows             Reserve
-------------------------------------------------------------------------------------------------------
<S>   <C>      <C>                                  <C>                   <C>              <C>
 141           Bayou Villa Apartments                     $0.00           Both             $257,000.00
-------------------------------------------------------------------------------------------------------
 142           South Michigan Avenue Office
               Building                                   $0.00           Both                   $0.00
-------------------------------------------------------------------------------------------------------
 143           Gateway Retail Center                      $0.00           Both              $53,766.00
-------------------------------------------------------------------------------------------------------
 144           Murphy Retail Center                  $11,445.48           Both                   $0.00
-------------------------------------------------------------------------------------------------------
 145           Anaheim Street Retail Center          $34,666.68           Both                   $0.00
-------------------------------------------------------------------------------------------------------
 146           Park Street Retail                    $35,000.04           Both                   $0.00
-------------------------------------------------------------------------------------------------------
 147           Sprinkle Ridge Apartments                  $0.00           Both                   $0.00
-------------------------------------------------------------------------------------------------------
 148           Melonie Square                             $0.00           Both                   $0.00
-------------------------------------------------------------------------------------------------------
 149           7000 North Freeway                         $0.00           Both                   $0.00
-------------------------------------------------------------------------------------------------------
 150           Sunny Isle Apartments                      $0.00           Both                   $0.00
-------------------------------------------------------------------------------------------------------
 151           Nichols Station I Apartments               $0.00           Both                   $0.00
-------------------------------------------------------------------------------------------------------
 152           Biddeford Apartments                       $0.00           Both                   $0.00
-------------------------------------------------------------------------------------------------------
 153           Mount Vernon Apartments                    $0.00           Both                   $0.00
-------------------------------------------------------------------------------------------------------
 154           Cambridge Estates Apts (Phase
               III)                                       $0.00           Both                   $0.00
-------------------------------------------------------------------------------------------------------
 155           South Ynez Apartments                      $0.00           Both                   $0.00
-------------------------------------------------------------------------------------------------------
 156           Colorado Square / Medlin Place
               Apartments                                 $0.00           Both                   $0.00
-------------------------------------------------------------------------------------------------------
 157           Country Oaks Mobile Home Park              $0.00           Both                   $0.00
-------------------------------------------------------------------------------------------------------
 158           Greenville Retail Center               $7,699.92           Both                   $0.00
-------------------------------------------------------------------------------------------------------
 159           Cliffview Crossing                    $49,806.00           Both             $100,000.00
-------------------------------------------------------------------------------------------------------
 160           Grove Apartments                           $0.00           Both                   $0.00
-------------------------------------------------------------------------------------------------------
 161           Greentree Apartments                       $0.00           Both                   $0.00
-------------------------------------------------------------------------------------------------------
 162           Coachlite Apartments                       $0.00           Both                   $0.00
-------------------------------------------------------------------------------------------------------
 163           Northgate Terrace I Apartments             $0.00           Both                   $0.00
-------------------------------------------------------------------------------------------------------
 164           150 Broad Street                           $0.00           Both                   $0.00
-------------------------------------------------------------------------------------------------------
 165           Sunset Avenue Apartments                   $0.00           Both                   $0.00
-------------------------------------------------------------------------------------------------------
 166           Classic Village                       $25,846.20           Both                   $0.00
-------------------------------------------------------------------------------------------------------
 167           Knox Landing Apartments                    $0.00           Both                   $0.00
-------------------------------------------------------------------------------------------------------
 168           1013 West Linden Street                    $0.00           Both                   $0.00
-------------------------------------------------------------------------------------------------------
 169           Ledgewood Mobile Home Park                 $0.00           Both                   $0.00
-------------------------------------------------------------------------------------------------------
 170           83 Elizabeth Street                        $0.00           Both                   $0.00
-------------------------------------------------------------------------------------------------------
 171           1235 Elm Street                            $0.00           Both                   $0.00
-------------------------------------------------------------------------------------------------------
116A           El Valle del Sol                           $0.00           Both                   $0.00
-------------------------------------------------------------------------------------------------------
116B           El Valle de la Luna                        $0.00           Both                   $0.00
-------------------------------------------------------------------------------------------------------
132A           San Juan Gardens                           $0.00           Both                   $0.00
-------------------------------------------------------------------------------------------------------
132B           Friendly Village                           $0.00           Both                   $0.00
-------------------------------------------------------------------------------------------------------
</TABLE>

                                                                II-6
<PAGE>

<TABLE>
<CAPTION>

                                                                                        Debt Initial   Initial
                                                                                          Service     Replacement   Letter of
  #   Crossed  Loan Name                          Initial Other Reserve Description       Reserve      Reserve       Credit
------------------------------------------------------------------------------------------------------------------------------
<S>   <C>     <C>                             <C>                                      <C>            <C>      <C>
  1            Circle Centre Mall              N/A                                          $0.00      $0.00           $0.00
------------------------------------------------------------------------------------------------------------------------------
  2            Wanamaker Building - Office     N/A                                          $0.00      $0.00           $0.00
------------------------------------------------------------------------------------------------------------------------------
  4     (A)    Mira Mesa Market Center West    N/A                                          $0.00      $0.00      $65,000.00
------------------------------------------------------------------------------------------------------------------------------
  5     (A)    Mira Mesa Market Center East    N/A                                          $0.00      $0.00   $1,235,000.00
------------------------------------------------------------------------------------------------------------------------------
  6     (B)    PCCP - Commerce Centre          N/A                                          $0.00      $0.00           $0.00
------------------------------------------------------------------------------------------------------------------------------
  7     (B)    PCCP - Paramount Distribution   N/A                                          $0.00      $0.00           $0.00
               Center
------------------------------------------------------------------------------------------------------------------------------
  8     (B)    PCCP - 301 Walnut               Howard Organization Lease Reserve            $0.00      $0.00           $0.00
------------------------------------------------------------------------------------------------------------------------------
 9A            Mayfair Mall - Retail           N/A                                          $0.00      $0.00           $0.00
------------------------------------------------------------------------------------------------------------------------------
 9B            Mayfair Mall - Office Complex   N/A                                          $0.00      $0.00           $0.00
------------------------------------------------------------------------------------------------------------------------------
 10            540 Madison Avenue              Interest Reserve Fund                        $0.00      $0.00           $0.00
------------------------------------------------------------------------------------------------------------------------------
 11            Town & Country Apartments -     N/A                                          $0.00      $0.00           $0.00
               Urbana
------------------------------------------------------------------------------------------------------------------------------
 16     (C)    Red Lion Hotel Port Angeles     Termite Reserve                              $0.00      $0.00           $0.00
------------------------------------------------------------------------------------------------------------------------------
 17     (C)    Red Lion Hotel Yakima Center    Termite Reserve                              $0.00      $0.00           $0.00
------------------------------------------------------------------------------------------------------------------------------
 18     (C)    Red Lion Hotel Eureka           Termite Reserve                              $0.00      $0.00           $0.00
------------------------------------------------------------------------------------------------------------------------------
 19     (C)    Red Lion Hotel Twin Falls       N/A                                          $0.00      $0.00           $0.00
------------------------------------------------------------------------------------------------------------------------------
 20     (C)    Red Lion Hotel Kennewick        Termite Reserve                              $0.00      $0.00           $0.00
------------------------------------------------------------------------------------------------------------------------------
 21            Arlington & Bradley Office      N/A                                          $0.00 $45,000.00           $0.00
               Center
------------------------------------------------------------------------------------------------------------------------------
 23            780 James P. Casey Road         Firestone Reserve                            $0.00      $0.00           $0.00
------------------------------------------------------------------------------------------------------------------------------
 24            800 Apollo                      N/A                                          $0.00      $0.00           $0.00
------------------------------------------------------------------------------------------------------------------------------
 25            Regent Industrial Center        N/A                                          $0.00 $300,000.00          $0.00
------------------------------------------------------------------------------------------------------------------------------
 26            Sarasota Gateway                N/A                                          $0.00      $0.00     $300,000.00
------------------------------------------------------------------------------------------------------------------------------
 27            Bristol Farms Apartments        Upfront Roadwork Escrow                      $0.00      $0.00           $0.00
------------------------------------------------------------------------------------------------------------------------------
 28            Country View Mobile Home Park   N/A                                          $0.00      $0.00           $0.00
------------------------------------------------------------------------------------------------------------------------------
 29            University Commons              N/A                                          $0.00      $0.00           $0.00
------------------------------------------------------------------------------------------------------------------------------
 30            Princeton Square Apartments     Capital Improvements Reserve                 $0.00      $0.00           $0.00
------------------------------------------------------------------------------------------------------------------------------
 31            Burlington Center Mall          N/A                                          $0.00      $0.00           $0.00
------------------------------------------------------------------------------------------------------------------------------
 32            Club at Tranquility Lake        N/A                                          $0.00      $0.00           $0.00
------------------------------------------------------------------------------------------------------------------------------
 33            Warner Center Business Park     ATK Missile Systems TI Reserve               $0.00      $0.00     $670,000.00
                                               ($416,925.00); University of West Los
                                               Angeles College of Law TI Reserve
                                               ($25,000.00)
------------------------------------------------------------------------------------------------------------------------------
 34            Expressway Mall                 N/A                                          $0.00      $0.00     $300,000.00
------------------------------------------------------------------------------------------------------------------------------
 35            Airline Shopping Center         N/A                                          $0.00      $0.00     $200,000.00
------------------------------------------------------------------------------------------------------------------------------
 36            Windward Village Shopping       N/A                                          $0.00      $0.00           $0.00
               Center
------------------------------------------------------------------------------------------------------------------------------
 37            Playa Blanca Apartments         Termite Reserve                              $0.00      $0.00           $0.00
------------------------------------------------------------------------------------------------------------------------------
 38            Torrey View Corporate Center    N/A                                          $0.00      $0.00           $0.00
------------------------------------------------------------------------------------------------------------------------------
 41            The Moorings Apartments         N/A                                          $0.00      $0.00           $0.00
------------------------------------------------------------------------------------------------------------------------------
 42            5th & Lamar Retail/Office       N/A                                          $0.00      $0.00           $0.00
               Development
------------------------------------------------------------------------------------------------------------------------------
 43            American Village on the Lake    Termite Repair Reserve                       $0.00 $1,000,000.00        $0.00
               Apartments
------------------------------------------------------------------------------------------------------------------------------
 44            Ryan's Pointe Apartments        N/A                                          $0.00      $0.00           $0.00
------------------------------------------------------------------------------------------------------------------------------
 45            Cleveland Street Square         N/A                                          $0.00      $0.00           $0.00
------------------------------------------------------------------------------------------------------------------------------
 47            Rivermont Apartments            Initial Cash Flow/Liquidity Reserve          $0.00      $0.00           $0.00
------------------------------------------------------------------------------------------------------------------------------
 50            Westover Gallery Shopping       N/A                                          $0.00      $0.00           $0.00
               Center
------------------------------------------------------------------------------------------------------------------------------
 53            Trestles of Houston Apartments  N/A                                          $0.00      $0.00           $0.00
------------------------------------------------------------------------------------------------------------------------------
 54            Pemstar, Inc. Headquarters      N/A                                          $0.00      $0.00           $0.00
------------------------------------------------------------------------------------------------------------------------------
 56            Riverbend Apartments            N/A                                          $0.00      $0.00           $0.00
------------------------------------------------------------------------------------------------------------------------------
 57            D'Adrian Meadows Apartments     Termite Repair Reserve                       $0.00 $276,250.00          $0.00
------------------------------------------------------------------------------------------------------------------------------
 58            Park Place                      N/A                                          $0.00      $0.00           $0.00
------------------------------------------------------------------------------------------------------------------------------
 59            Millstone Lakes Apartments      N/A                                          $0.00      $0.00           $0.00
------------------------------------------------------------------------------------------------------------------------------
 61            Aspen Woods                     N/A                                          $0.00      $0.00           $0.00
------------------------------------------------------------------------------------------------------------------------------
 62            Iliff Commons Shopping Center   N/A                                          $0.00      $0.00     $250,000.00
------------------------------------------------------------------------------------------------------------------------------
 63            Atlantic Boulevard Shopping     N/A                                          $0.00      $0.00           $0.00
               Center
------------------------------------------------------------------------------------------------------------------------------
 64            Shoppes at Brandon Farms        N/A                                          $0.00      $0.00           $0.00
------------------------------------------------------------------------------------------------------------------------------

<CAPTION>

                                                                                                               Earnout
  #   Crossed  Loan Name                                      Letter of Credit Description                     Reserve
------------------------------------------------------------------------------------------------------------------------
<S>   <C>      <C>                              <C>                                                      <C>
  1            Circle Centre Mall               N/A                                                              $0.00
------------------------------------------------------------------------------------------------------------------------
  2            Wanamaker Building - Office      N/A                                                              $0.00
------------------------------------------------------------------------------------------------------------------------
  4     (A)    Mira Mesa Market Center West     Tax & Insurance Impound Letter of Credit                         $0.00
------------------------------------------------------------------------------------------------------------------------
  5     (A)    Mira Mesa Market Center East     Earnout LOC ($1,000,000), 6 Months Taxes & Insurance             $0.00
                                                ($235,000)
------------------------------------------------------------------------------------------------------------------------
  6     (B)    PCCP - Commerce Centre           N/A                                                              $0.00
------------------------------------------------------------------------------------------------------------------------
  7     (B)    PCCP - Paramount Distribution    N/A                                                              $0.00
               Center
------------------------------------------------------------------------------------------------------------------------
  8     (B)    PCCP - 301 Walnut                N/A                                                              $0.00
------------------------------------------------------------------------------------------------------------------------
 9A            Mayfair Mall - Retail            N/A                                                              $0.00
------------------------------------------------------------------------------------------------------------------------
 9B            Mayfair Mall - Office Complex    N/A                                                              $0.00
------------------------------------------------------------------------------------------------------------------------
 10            540 Madison Avenue               N/A                                                              $0.00
------------------------------------------------------------------------------------------------------------------------
 11            Town & Country Apartments -      N/A                                                              $0.00
               Urbana
------------------------------------------------------------------------------------------------------------------------
 16     (C)    Red Lion Hotel Port Angeles      N/A                                                              $0.00
------------------------------------------------------------------------------------------------------------------------
 17     (C)    Red Lion Hotel Yakima Center     N/A                                                              $0.00
------------------------------------------------------------------------------------------------------------------------
 18     (C)    Red Lion Hotel Eureka            N/A                                                              $0.00
------------------------------------------------------------------------------------------------------------------------
 19     (C)    Red Lion Hotel Twin Falls        N/A                                                              $0.00
------------------------------------------------------------------------------------------------------------------------
 20     (C)    Red Lion Hotel Kennewick         N/A                                                              $0.00
------------------------------------------------------------------------------------------------------------------------
 21            Arlington & Bradley Office       N/A                                                              $0.00
               Center
------------------------------------------------------------------------------------------------------------------------
 23            780 James P. Casey Road          N/A                                                              $0.00
------------------------------------------------------------------------------------------------------------------------
 24            800 Apollo                       N/A                                                              $0.00
------------------------------------------------------------------------------------------------------------------------
 25            Regent Industrial Center         N/A                                                              $0.00
------------------------------------------------------------------------------------------------------------------------
 26            Sarasota Gateway                 Pinnacle Towers TILC LOC ($250,000); Vacant Space TILC           $0.00
                                                LOC ($50,000)
------------------------------------------------------------------------------------------------------------------------
 27            Bristol Farms Apartments         N/A                                                              $0.00
------------------------------------------------------------------------------------------------------------------------
 28            Country View Mobile Home Park    N/A                                                              $0.00
------------------------------------------------------------------------------------------------------------------------
 29            University Commons               N/A                                                              $0.00
------------------------------------------------------------------------------------------------------------------------
 30            Princeton Square Apartments      N/A                                                              $0.00
------------------------------------------------------------------------------------------------------------------------
 31            Burlington Center Mall           N/A                                                              $0.00
------------------------------------------------------------------------------------------------------------------------
 32            Club at Tranquility Lake         N/A                                                              $0.00
------------------------------------------------------------------------------------------------------------------------
 33            Warner Center Business Park      In His Presence Reserve                                          $0.00
------------------------------------------------------------------------------------------------------------------------
 34            Expressway Mall                  Release upon: i) DSCR of 1.35, ii) Gross Income of               $0.00
                                                $1,700,000
------------------------------------------------------------------------------------------------------------------------
 35            Airline Shopping Center          Release upon: i) DSCR <= 1.20, ii) satisfactory lease            $0.00
                                                with Goodyear Tire and iii) receipt of tenant estoppel
                                                for Goodyear Tire.
------------------------------------------------------------------------------------------------------------------------
 36            Windward Village Shopping        N/A                                                      $1,000,000.00
               Center
------------------------------------------------------------------------------------------------------------------------
 37            Playa Blanca Apartments          N/A                                                              $0.00
------------------------------------------------------------------------------------------------------------------------
 38            Torrey View Corporate Center     N/A                                                              $0.00
------------------------------------------------------------------------------------------------------------------------
 41            The Moorings Apartments          N/A                                                              $0.00
------------------------------------------------------------------------------------------------------------------------
 42            5th & Lamar Retail/Office        N/A                                                        $550,000.00
               Development
------------------------------------------------------------------------------------------------------------------------
 43            American Village on the Lake     N/A                                                              $0.00
               Apartments
------------------------------------------------------------------------------------------------------------------------
 44            Ryan's Pointe Apartments         N/A                                                              $0.00
------------------------------------------------------------------------------------------------------------------------
 45            Cleveland Street Square          N/A                                                              $0.00
------------------------------------------------------------------------------------------------------------------------
 47            Rivermont Apartments             N/A                                                              $0.00
------------------------------------------------------------------------------------------------------------------------
 50            Westover Gallery Shopping        N/A                                                              $0.00
               Center
------------------------------------------------------------------------------------------------------------------------
 53            Trestles of Houston Apartments   N/A                                                              $0.00
------------------------------------------------------------------------------------------------------------------------
 54            Pemstar, Inc. Headquarters       N/A                                                              $0.00
------------------------------------------------------------------------------------------------------------------------
 56            Riverbend Apartments             N/A                                                              $0.00
------------------------------------------------------------------------------------------------------------------------
 57            D'Adrian Meadows Apartments      N/A                                                              $0.00
------------------------------------------------------------------------------------------------------------------------
 58            Park Place                       N/A                                                              $0.00
------------------------------------------------------------------------------------------------------------------------
 59            Millstone Lakes Apartments       N/A                                                              $0.00
------------------------------------------------------------------------------------------------------------------------
 61            Aspen Woods                      N/A                                                              $0.00
------------------------------------------------------------------------------------------------------------------------
 62            Iliff Commons Shopping Center    In lieu of TI & LC's                                             $0.00
------------------------------------------------------------------------------------------------------------------------
 63            Atlantic Boulevard Shopping      N/A                                                              $0.00
               Center
------------------------------------------------------------------------------------------------------------------------
 64            Shoppes at Brandon Farms         N/A                                                              $0.00
------------------------------------------------------------------------------------------------------------------------
</TABLE>

                                                                II-7
<PAGE>

<TABLE>
<CAPTION>

                                                                                        Debt Initial   Initial
                                                                                          Service     Replacement   Letter of
  #   Crossed  Loan Name                          Initial Other Reserve Description       Reserve      Reserve       Credit
------------------------------------------------------------------------------------------------------------------------------
<S>   <C>     <C>                             <C>                                      <C>            <C>      <C>
 65            Court Street Plaza Shopping     N/A                                          $0.00      $0.00           $0.00
               Center
------------------------------------------------------------------------------------------------------------------------------
 67            300 Alexander Park              N/A                                          $0.00      $0.00           $0.00
------------------------------------------------------------------------------------------------------------------------------
 68            4861 & 4891 Telsa Drive         N/A                                          $0.00      $0.00           $0.00
------------------------------------------------------------------------------------------------------------------------------
 69            Longview Meadow Apartments      N/A                                          $0.00      $0.00           $0.00
------------------------------------------------------------------------------------------------------------------------------
 70            8501 LaSalle Road               N/A                                          $0.00      $0.00           $0.00
------------------------------------------------------------------------------------------------------------------------------
 71            Trestles of Baytown Apartments  N/A                                          $0.00      $0.00           $0.00
------------------------------------------------------------------------------------------------------------------------------
 72            Santa Fe Place Apartments       N/A                                          $0.00      $0.00           $0.00
------------------------------------------------------------------------------------------------------------------------------
 73            Plumtree Professional Center    N/A                                          $0.00      $0.00           $0.00
------------------------------------------------------------------------------------------------------------------------------
 75            Canyon Woods Apartments         N/A                                          $0.00      $0.00           $0.00
------------------------------------------------------------------------------------------------------------------------------
 76            Grove Street                    N/A                                          $0.00      $0.00     $185,000.00
------------------------------------------------------------------------------------------------------------------------------
 78            Ashley Park Apartments          N/A                                          $0.00      $0.00           $0.00
------------------------------------------------------------------------------------------------------------------------------
 79            Rosemont Retail Center          N/A                                          $0.00      $0.00           $0.00
------------------------------------------------------------------------------------------------------------------------------
 81            Cardinal Shopping Center        N/A                                          $0.00      $0.00           $0.00
------------------------------------------------------------------------------------------------------------------------------
 82            Grogan's Mill Village Center    N/A                                          $0.00      $0.00           $0.00
------------------------------------------------------------------------------------------------------------------------------
 83            Atlas Valley Shopping Center    Zoning escrow for purposes of securing       $0.00      $0.00           $0.00
                                               the installation of slate on the
                                               premises to comply with zoning
------------------------------------------------------------------------------------------------------------------------------
 84            Heights Garden Apartments       N/A                                          $0.00      $0.00           $0.00
------------------------------------------------------------------------------------------------------------------------------
 85            Radnor Towers Apartments        Terrorism Insurance Escrow                   $0.00      $0.00           $0.00
------------------------------------------------------------------------------------------------------------------------------
 87            10 Canebrake Boulevard          N/A                                          $0.00      $0.00           $0.00
------------------------------------------------------------------------------------------------------------------------------
 88            The Forest Apartments           N/A                                          $0.00      $0.00           $0.00
------------------------------------------------------------------------------------------------------------------------------
 89            Gristedes - 3rd Ave. and 36th   Common Charge Impound Reserve                $0.00      $0.00           $0.00
               Street
------------------------------------------------------------------------------------------------------------------------------
 90            111 & 121 Roberts Street        N/A                                          $0.00      $0.00           $0.00
------------------------------------------------------------------------------------------------------------------------------
 91            Richland Village Shopping       N/A                                          $0.00      $0.00           $0.00
               Center
------------------------------------------------------------------------------------------------------------------------------
 92            Pacific West Apartments         N/A                                          $0.00      $0.00           $0.00
------------------------------------------------------------------------------------------------------------------------------
 93            Atrium Medical Office Building  N/A                                          $0.00      $0.00           $0.00
------------------------------------------------------------------------------------------------------------------------------
 94            Wingate Inn Fayetteville        N/A                                          $0.00      $0.00           $0.00
------------------------------------------------------------------------------------------------------------------------------
 95            Millside Building               N/A                                          $0.00      $0.00           $0.00
------------------------------------------------------------------------------------------------------------------------------
 100           Market at Southern Pines        N/A                                          $0.00      $0.00           $0.00
------------------------------------------------------------------------------------------------------------------------------
 101           Palm Shadows MH & RV Park       N/A                                     $63,000.00      $0.00           $0.00
------------------------------------------------------------------------------------------------------------------------------
 103           Anderson Oaks Mobile Home Park  N/A                                          $0.00      $0.00           $0.00
------------------------------------------------------------------------------------------------------------------------------
 108           Magic Valley Park               N/A                                     $80,000.00      $0.00           $0.00
------------------------------------------------------------------------------------------------------------------------------
 109           River Park Apartments           N/A                                          $0.00      $0.00           $0.00
------------------------------------------------------------------------------------------------------------------------------
 110           Portway Plaza Office Building   Certificate Reserve                          $0.00      $0.00           $0.00
------------------------------------------------------------------------------------------------------------------------------
 111           Marigold Apartments             Terrorism Policy Reserve                     $0.00      $0.00           $0.00
------------------------------------------------------------------------------------------------------------------------------
 112           Carlton Apartments              N/A                                          $0.00      $0.00           $0.00
------------------------------------------------------------------------------------------------------------------------------
 113    (D)    Ramey's Mobile Home Park        N/A                                          $0.00      $0.00           $0.00
------------------------------------------------------------------------------------------------------------------------------
 114    (D)    Bexley Mobile Home Park         N/A                                          $0.00      $0.00           $0.00
------------------------------------------------------------------------------------------------------------------------------
 117           Lincoln Professional Plaza      N/A                                          $0.00      $0.00           $0.00
------------------------------------------------------------------------------------------------------------------------------
 118           Santa Grande Mobile Home Park   N/A                                          $0.00      $0.00           $0.00
------------------------------------------------------------------------------------------------------------------------------
 119           301 N. Brand Blvd.              N/A                                          $0.00      $0.00           $0.00
------------------------------------------------------------------------------------------------------------------------------
 120           Tropicana Del Este Apartments   N/A                                          $0.00      $0.00           $0.00
------------------------------------------------------------------------------------------------------------------------------
 123           Sundance Village MHP            N/A                                          $0.00      $0.00           $0.00
------------------------------------------------------------------------------------------------------------------------------
 124           University Plaza                N/A                                          $0.00      $0.00           $0.00
------------------------------------------------------------------------------------------------------------------------------
 125           Campbell Station Shopping       N/A                                          $0.00      $0.00           $0.00
               Center
------------------------------------------------------------------------------------------------------------------------------
 126           Southwest Storage               N/A                                          $0.00      $0.00           $0.00
------------------------------------------------------------------------------------------------------------------------------
 129           Greenbriar MHP                  N/A                                          $0.00      $0.00           $0.00
------------------------------------------------------------------------------------------------------------------------------
 130           Trafalgar Square Apartments     N/A                                     $23,089.43      $0.00           $0.00
------------------------------------------------------------------------------------------------------------------------------
 131           Queens Lane Apartments          N/A                                          $0.00      $0.00           $0.00
------------------------------------------------------------------------------------------------------------------------------
 133           327 East 52nd Street            N/A                                          $0.00      $0.00           $0.00
------------------------------------------------------------------------------------------------------------------------------
 134           Naples Place IV                 N/A                                          $0.00      $0.00           $0.00
------------------------------------------------------------------------------------------------------------------------------
 135           Park City Shopping Center       N/A                                          $0.00      $0.00           $0.00
------------------------------------------------------------------------------------------------------------------------------
 136           Kennesaw Promenade              N/A                                          $0.00      $0.00           $0.00
------------------------------------------------------------------------------------------------------------------------------
 137           Lakewood Village - FL           N/A                                          $0.00      $0.00           $0.00
------------------------------------------------------------------------------------------------------------------------------
 139           2317-2335 Market Street         N/A                                          $0.00      $0.00           $0.00
------------------------------------------------------------------------------------------------------------------------------

<CAPTION>

                                                                                                               Earnout
  #   Crossed  Loan Name                                      Letter of Credit Description                     Reserve
------------------------------------------------------------------------------------------------------------------------
<S>   <C>      <C>                              <C>                                                      <C>
 65            Court Street Plaza Shopping      N/A                                                              $0.00
               Center
------------------------------------------------------------------------------------------------------------------------
 67            300 Alexander Park               N/A                                                              $0.00
------------------------------------------------------------------------------------------------------------------------
 68            4861 & 4891 Telsa Drive          N/A                                                              $0.00
------------------------------------------------------------------------------------------------------------------------
 69            Longview Meadow Apartments       N/A                                                              $0.00
------------------------------------------------------------------------------------------------------------------------
 70            8501 LaSalle Road                N/A                                                              $0.00
------------------------------------------------------------------------------------------------------------------------
 71            Trestles of Baytown Apartments   N/A                                                              $0.00
------------------------------------------------------------------------------------------------------------------------
 72            Santa Fe Place Apartments        N/A                                                              $0.00
------------------------------------------------------------------------------------------------------------------------
 73            Plumtree Professional Center     N/A                                                              $0.00
------------------------------------------------------------------------------------------------------------------------
 75            Canyon Woods Apartments          N/A                                                              $0.00
------------------------------------------------------------------------------------------------------------------------
 76            Grove Street                     Earnout Reserve LOC                                              $0.00
------------------------------------------------------------------------------------------------------------------------
 78            Ashley Park Apartments           N/A                                                              $0.00
------------------------------------------------------------------------------------------------------------------------
 79            Rosemont Retail Center           N/A                                                        $750,000.00
------------------------------------------------------------------------------------------------------------------------
 81            Cardinal Shopping Center         N/A                                                              $0.00
------------------------------------------------------------------------------------------------------------------------
 82            Grogan's Mill Village Center     N/A                                                              $0.00
------------------------------------------------------------------------------------------------------------------------
 83            Atlas Valley Shopping Center     N/A                                                              $0.00
------------------------------------------------------------------------------------------------------------------------
 84            Heights Garden Apartments        N/A                                                              $0.00
------------------------------------------------------------------------------------------------------------------------
 85            Radnor Towers Apartments         N/A                                                              $0.00
------------------------------------------------------------------------------------------------------------------------
 87            10 Canebrake Boulevard           N/A                                                              $0.00
------------------------------------------------------------------------------------------------------------------------
 88            The Forest Apartments            N/A                                                              $0.00
------------------------------------------------------------------------------------------------------------------------
 89            Gristedes - 3rd Ave. and 36th    N/A                                                              $0.00
               Street
------------------------------------------------------------------------------------------------------------------------
 90            111 & 121 Roberts Street         N/A                                                              $0.00
------------------------------------------------------------------------------------------------------------------------
 91            Richland Village Shopping        N/A                                                        $150,000.00
               Center
------------------------------------------------------------------------------------------------------------------------
 92            Pacific West Apartments          N/A                                                              $0.00
------------------------------------------------------------------------------------------------------------------------
 93            Atrium Medical Office Building   N/A                                                              $0.00
------------------------------------------------------------------------------------------------------------------------
 94            Wingate Inn Fayetteville         N/A                                                              $0.00
------------------------------------------------------------------------------------------------------------------------
 95            Millside Building                N/A                                                              $0.00
------------------------------------------------------------------------------------------------------------------------
 100           Market at Southern Pines         N/A                                                              $0.00
------------------------------------------------------------------------------------------------------------------------
 101           Palm Shadows MH & RV Park        N/A                                                              $0.00
------------------------------------------------------------------------------------------------------------------------
 103           Anderson Oaks Mobile Home Park   N/A                                                              $0.00
------------------------------------------------------------------------------------------------------------------------
 108           Magic Valley Park                N/A                                                              $0.00
------------------------------------------------------------------------------------------------------------------------
 109           River Park Apartments            N/A                                                              $0.00
------------------------------------------------------------------------------------------------------------------------
 110           Portway Plaza Office Building    N/A                                                              $0.00
------------------------------------------------------------------------------------------------------------------------
 111           Marigold Apartments              N/A                                                              $0.00
------------------------------------------------------------------------------------------------------------------------
 112           Carlton Apartments               N/A                                                              $0.00
------------------------------------------------------------------------------------------------------------------------
 113    (D)    Ramey's Mobile Home Park         N/A                                                              $0.00
------------------------------------------------------------------------------------------------------------------------
 114    (D)    Bexley Mobile Home Park          N/A                                                              $0.00
------------------------------------------------------------------------------------------------------------------------
 117           Lincoln Professional Plaza       N/A                                                              $0.00
------------------------------------------------------------------------------------------------------------------------
 118           Santa Grande Mobile Home Park    N/A                                                              $0.00
------------------------------------------------------------------------------------------------------------------------
 119           301 N. Brand Blvd.               N/A                                                              $0.00
------------------------------------------------------------------------------------------------------------------------
 120           Tropicana Del Este Apartments    N/A                                                              $0.00
------------------------------------------------------------------------------------------------------------------------
 123           Sundance Village MHP             N/A                                                              $0.00
------------------------------------------------------------------------------------------------------------------------
 124           University Plaza                 N/A                                                              $0.00
------------------------------------------------------------------------------------------------------------------------
 125           Campbell Station Shopping        N/A                                                              $0.00
               Center
------------------------------------------------------------------------------------------------------------------------
 126           Southwest Storage                N/A                                                              $0.00
------------------------------------------------------------------------------------------------------------------------
 129           Greenbriar MHP                   N/A                                                              $0.00
------------------------------------------------------------------------------------------------------------------------
 130           Trafalgar Square Apartments      N/A                                                              $0.00
------------------------------------------------------------------------------------------------------------------------
 131           Queens Lane Apartments           N/A                                                              $0.00
------------------------------------------------------------------------------------------------------------------------
 133           327 East 52nd Street             N/A                                                              $0.00
------------------------------------------------------------------------------------------------------------------------
 134           Naples Place IV                  N/A                                                              $0.00
------------------------------------------------------------------------------------------------------------------------
 135           Park City Shopping Center        N/A                                                              $0.00
------------------------------------------------------------------------------------------------------------------------
 136           Kennesaw Promenade               N/A                                                              $0.00
------------------------------------------------------------------------------------------------------------------------
 137           Lakewood Village - FL            N/A                                                              $0.00
------------------------------------------------------------------------------------------------------------------------
 139           2317-2335 Market Street          N/A                                                          $6,812.50
------------------------------------------------------------------------------------------------------------------------
</TABLE>

                                                                II-8
<PAGE>

<TABLE>
<CAPTION>
                                                                                        Debt Initial   Initial
                                                                                          Service     Replacement   Letter of
  #   Crossed  Loan Name                          Initial Other Reserve Description       Reserve      Reserve       Credit
------------------------------------------------------------------------------------------------------------------------------
<S>   <C>     <C>                             <C>                                      <C>            <C>      <C>
 140           Gloucester Apartments           N/A                                          $0.00      $0.00           $0.00
------------------------------------------------------------------------------------------------------------------------------
 141           Bayou Villa Apartments          Occupancy and Repair Reserve                 $0.00      $0.00           $0.00
------------------------------------------------------------------------------------------------------------------------------
 142           South Michigan Avenue Office    N/A                                          $0.00      $0.00           $0.00
               Building
------------------------------------------------------------------------------------------------------------------------------
 143           Gateway Retail Center           Java Connection TI Reserve held by CT        $0.00      $0.00           $0.00
                                               Escrow Services, LLC
------------------------------------------------------------------------------------------------------------------------------
 144           Murphy Retail Center            N/A                                          $0.00      $0.00           $0.00
------------------------------------------------------------------------------------------------------------------------------
 145           Anaheim Street Retail Center    N/A                                          $0.00      $0.00           $0.00
------------------------------------------------------------------------------------------------------------------------------
 146           Park Street Retail              N/A                                          $0.00      $0.00           $0.00
------------------------------------------------------------------------------------------------------------------------------
 147           Sprinkle Ridge Apartments       N/A                                          $0.00      $0.00           $0.00
------------------------------------------------------------------------------------------------------------------------------
 148           Melonie Square                  N/A                                          $0.00      $0.00           $0.00
------------------------------------------------------------------------------------------------------------------------------
 149           7000 North Freeway              N/A                                          $0.00      $0.00           $0.00
------------------------------------------------------------------------------------------------------------------------------
 150           Sunny Isle Apartments           N/A                                          $0.00      $0.00           $0.00
------------------------------------------------------------------------------------------------------------------------------
 151           Nichols Station I Apartments    N/A                                          $0.00      $0.00           $0.00
------------------------------------------------------------------------------------------------------------------------------
 152           Biddeford Apartments            N/A                                          $0.00      $0.00           $0.00
------------------------------------------------------------------------------------------------------------------------------
 153           Mount Vernon Apartments         N/A                                          $0.00      $0.00           $0.00
------------------------------------------------------------------------------------------------------------------------------
 154           Cambridge Estates Apts (Phase   N/A                                          $0.00      $0.00           $0.00
               III)
------------------------------------------------------------------------------------------------------------------------------
 155           South Ynez Apartments           N/A                                          $0.00      $0.00           $0.00
------------------------------------------------------------------------------------------------------------------------------
 156           Colorado Square / Medlin Place  N/A                                          $0.00      $0.00           $0.00
               Apartments
------------------------------------------------------------------------------------------------------------------------------
 157           Country Oaks Mobile Home Park   N/A                                          $0.00      $0.00           $0.00
------------------------------------------------------------------------------------------------------------------------------
 158           Greenville Retail Center        N/A                                          $0.00      $0.00           $0.00
------------------------------------------------------------------------------------------------------------------------------
 159           Cliffview Crossing              Lease Termination Debt Service               $0.00      $0.00           $0.00
------------------------------------------------------------------------------------------------------------------------------
 160           Grove Apartments                N/A                                          $0.00      $0.00           $0.00
------------------------------------------------------------------------------------------------------------------------------
 161           Greentree Apartments            N/A                                          $0.00      $0.00           $0.00
------------------------------------------------------------------------------------------------------------------------------
 162           Coachlite Apartments            N/A                                          $0.00      $0.00           $0.00
------------------------------------------------------------------------------------------------------------------------------
 163           Northgate Terrace I Apartments  N/A                                          $0.00      $0.00           $0.00
------------------------------------------------------------------------------------------------------------------------------
 164           150 Broad Street                N/A                                          $0.00      $0.00           $0.00
------------------------------------------------------------------------------------------------------------------------------
 165           Sunset Avenue Apartments        N/A                                          $0.00      $0.00           $0.00
------------------------------------------------------------------------------------------------------------------------------
 166           Classic Village                 N/A                                          $0.00      $0.00           $0.00
------------------------------------------------------------------------------------------------------------------------------
 167           Knox Landing Apartments         N/A                                          $0.00      $0.00           $0.00
------------------------------------------------------------------------------------------------------------------------------
 168           1013 West Linden Street         N/A                                          $0.00      $0.00           $0.00
------------------------------------------------------------------------------------------------------------------------------
 169           Ledgewood Mobile Home Park      N/A                                          $0.00      $0.00           $0.00
------------------------------------------------------------------------------------------------------------------------------
 170           83 Elizabeth Street             N/A                                          $0.00      $0.00           $0.00
------------------------------------------------------------------------------------------------------------------------------
 171           1235 Elm Street                 N/A                                          $0.00      $0.00           $0.00
------------------------------------------------------------------------------------------------------------------------------
116A           El Valle del Sol                N/A                                     $69,230.70      $0.00           $0.00
------------------------------------------------------------------------------------------------------------------------------
116B           El Valle de la Luna             N/A                                     $20,769.30      $0.00           $0.00
------------------------------------------------------------------------------------------------------------------------------
132A           San Juan Gardens                N/A                                      $6,035.90      $0.00           $0.00
------------------------------------------------------------------------------------------------------------------------------
132B           Friendly Village                N/A                                      $3,964.10      $0.00           $0.00
------------------------------------------------------------------------------------------------------------------------------

<CAPTION>

                                                                                                               Earnout
  #   Crossed  Loan Name                                      Letter of Credit Description                     Reserve
------------------------------------------------------------------------------------------------------------------------
<S>   <C>      <C>                              <C>                                                      <C>
 140           Gloucester Apartments            N/A                                                              $0.00
------------------------------------------------------------------------------------------------------------------------
 141           Bayou Villa Apartments           N/A                                                              $0.00
------------------------------------------------------------------------------------------------------------------------
 142           South Michigan Avenue Office     N/A                                                              $0.00
               Building
------------------------------------------------------------------------------------------------------------------------
 143           Gateway Retail Center            N/A                                                              $0.00
------------------------------------------------------------------------------------------------------------------------
 144           Murphy Retail Center             N/A                                                              $0.00
------------------------------------------------------------------------------------------------------------------------
 145           Anaheim Street Retail Center     N/A                                                              $0.00
------------------------------------------------------------------------------------------------------------------------
 146           Park Street Retail               N/A                                                              $0.00
------------------------------------------------------------------------------------------------------------------------
 147           Sprinkle Ridge Apartments        N/A                                                              $0.00
------------------------------------------------------------------------------------------------------------------------
 148           Melonie Square                   N/A                                                              $0.00
------------------------------------------------------------------------------------------------------------------------
 149           7000 North Freeway               N/A                                                              $0.00
------------------------------------------------------------------------------------------------------------------------
 150           Sunny Isle Apartments            N/A                                                              $0.00
------------------------------------------------------------------------------------------------------------------------
 151           Nichols Station I Apartments     N/A                                                              $0.00
------------------------------------------------------------------------------------------------------------------------
 152           Biddeford Apartments             N/A                                                              $0.00
------------------------------------------------------------------------------------------------------------------------
 153           Mount Vernon Apartments          N/A                                                              $0.00
------------------------------------------------------------------------------------------------------------------------
 154           Cambridge Estates Apts (Phase    N/A                                                              $0.00
               III)
------------------------------------------------------------------------------------------------------------------------
 155           South Ynez Apartments            N/A                                                              $0.00
------------------------------------------------------------------------------------------------------------------------
 156           Colorado Square / Medlin Place   N/A                                                              $0.00
               Apartments
------------------------------------------------------------------------------------------------------------------------
 157           Country Oaks Mobile Home Park    N/A                                                              $0.00
------------------------------------------------------------------------------------------------------------------------
 158           Greenville Retail Center         N/A                                                              $0.00
------------------------------------------------------------------------------------------------------------------------
 159           Cliffview Crossing               N/A                                                              $0.00
------------------------------------------------------------------------------------------------------------------------
 160           Grove Apartments                 N/A                                                              $0.00
------------------------------------------------------------------------------------------------------------------------
 161           Greentree Apartments             N/A                                                              $0.00
------------------------------------------------------------------------------------------------------------------------
 162           Coachlite Apartments             N/A                                                              $0.00
------------------------------------------------------------------------------------------------------------------------
 163           Northgate Terrace I Apartments   N/A                                                              $0.00
------------------------------------------------------------------------------------------------------------------------
 164           150 Broad Street                 N/A                                                              $0.00
------------------------------------------------------------------------------------------------------------------------
 165           Sunset Avenue Apartments         N/A                                                              $0.00
------------------------------------------------------------------------------------------------------------------------
 166           Classic Village                  N/A                                                              $0.00
------------------------------------------------------------------------------------------------------------------------
 167           Knox Landing Apartments          N/A                                                              $0.00
------------------------------------------------------------------------------------------------------------------------
 168           1013 West Linden Street          N/A                                                              $0.00
------------------------------------------------------------------------------------------------------------------------
 169           Ledgewood Mobile Home Park       N/A                                                              $0.00
------------------------------------------------------------------------------------------------------------------------
 170           83 Elizabeth Street              N/A                                                              $0.00
------------------------------------------------------------------------------------------------------------------------
 171           1235 Elm Street                  N/A                                                              $0.00
------------------------------------------------------------------------------------------------------------------------
116A           El Valle del Sol                 N/A                                                              $0.00
------------------------------------------------------------------------------------------------------------------------
116B           El Valle de la Luna              N/A                                                              $0.00
------------------------------------------------------------------------------------------------------------------------
132A           San Juan Gardens                 N/A                                                              $0.00
------------------------------------------------------------------------------------------------------------------------
132B           Friendly Village                 N/A                                                              $0.00
------------------------------------------------------------------------------------------------------------------------
</TABLE>

                                                                II-9
<PAGE>

<TABLE>
<CAPTION>

  #   Crossed  Loan Name                                                Earnout                              Additional
                                                                        Reserve                              Collateral
                                                                      Description                              Amount
---------------------------------------------------------------------------------------------------------------------------
<S>   <C>      <C>                             <C>                                                        <C>
  1            Circle Centre Mall              N/A                                                        N/A
---------------------------------------------------------------------------------------------------------------------------
  2            Wanamaker Building - Office     N/A                                                        N/A
---------------------------------------------------------------------------------------------------------------------------
  4     (A)    Mira Mesa Market Center West    N/A                                                        N/A
---------------------------------------------------------------------------------------------------------------------------
  5     (A)    Mira Mesa Market Center East    N/A                                                        N/A
---------------------------------------------------------------------------------------------------------------------------
  6     (B)    PCCP - Commerce Centre          N/A                                                        N/A
---------------------------------------------------------------------------------------------------------------------------
  7     (B)    PCCP - Paramount Distribution   N/A
               Center                                                                                     N/A
---------------------------------------------------------------------------------------------------------------------------
  8     (B)    PCCP - 301 Walnut               N/A                                                        N/A
---------------------------------------------------------------------------------------------------------------------------
 9A            Mayfair Mall - Retail           N/A                                                        N/A
---------------------------------------------------------------------------------------------------------------------------
 9B            Mayfair Mall - Office Complex   N/A                                                        N/A
---------------------------------------------------------------------------------------------------------------------------
 10            540 Madison Avenue              N/A                                                        N/A
---------------------------------------------------------------------------------------------------------------------------
 11            Town & Country Apartments -     N/A
               Urbana                                                                                     N/A
---------------------------------------------------------------------------------------------------------------------------
 16     (C)    Red Lion Hotel Port Angeles     N/A                                                        N/A
---------------------------------------------------------------------------------------------------------------------------
 17     (C)    Red Lion Hotel Yakima Center    N/A                                                        N/A
---------------------------------------------------------------------------------------------------------------------------
 18     (C)    Red Lion Hotel Eureka           N/A                                                        N/A
---------------------------------------------------------------------------------------------------------------------------
 19     (C)    Red Lion Hotel Twin Falls       N/A                                                        N/A
---------------------------------------------------------------------------------------------------------------------------
 20     (C)    Red Lion Hotel Kennewick        N/A                                                        N/A
---------------------------------------------------------------------------------------------------------------------------
 21            Arlington & Bradley Office      N/A
               Center                                                                                     N/A
---------------------------------------------------------------------------------------------------------------------------
 23            780 James P. Casey Road         N/A                                                        N/A
---------------------------------------------------------------------------------------------------------------------------
 24            800 Apollo                      N/A                                                        N/A
---------------------------------------------------------------------------------------------------------------------------
 25            Regent Industrial Center        N/A                                                        N/A
---------------------------------------------------------------------------------------------------------------------------
 26            Sarasota Gateway                N/A                                                        N/A
---------------------------------------------------------------------------------------------------------------------------
 27            Bristol Farms Apartments        N/A                                                        N/A
---------------------------------------------------------------------------------------------------------------------------
 28            Country View Mobile Home Park   N/A                                                        N/A
---------------------------------------------------------------------------------------------------------------------------
 29            University Commons              N/A                                                        N/A
---------------------------------------------------------------------------------------------------------------------------
 30            Princeton Square Apartments     N/A                                                        N/A
---------------------------------------------------------------------------------------------------------------------------
 31            Burlington Center Mall          N/A                                                        N/A
---------------------------------------------------------------------------------------------------------------------------
 32            Club at Tranquility Lake        N/A                                                        N/A
---------------------------------------------------------------------------------------------------------------------------
 33            Warner Center Business Park     N/A                                                        N/A
---------------------------------------------------------------------------------------------------------------------------
 34            Expressway Mall                 N/A                                                        $300,000.00

---------------------------------------------------------------------------------------------------------------------------
 35            Airline Shopping Center         N/A                                                        $200,000.00

---------------------------------------------------------------------------------------------------------------------------
 36            Windward Village Shopping       Release upon: i) Occupancy of 96%; ii) Monthly rental      $1,000,000.00
               Center                          income of at least $105,000; iii) DSCR of 1.43; Executed
                                               leases totaling 5,868 sf w/ rental rate no less than $22
                                               psf for min. term of 3 years.

---------------------------------------------------------------------------------------------------------------------------
 37            Playa Blanca Apartments         N/A                                                        N/A
---------------------------------------------------------------------------------------------------------------------------
 38            Torrey View Corporate Center    N/A                                                        N/A
---------------------------------------------------------------------------------------------------------------------------
 41            The Moorings Apartments         N/A                                                        N/A
---------------------------------------------------------------------------------------------------------------------------
 42            5th & Lamar Retail/Office       Release upon: i) Garage/Retail improvements shall be       $550,000.00
               Development                     fully completed; ii) OfficeMax Confirmation verifying all
                                               OfficeMax Payments have been paid.

---------------------------------------------------------------------------------------------------------------------------
 43            American Village on the Lake    N/A
               Apartments                                                                                 N/A
---------------------------------------------------------------------------------------------------------------------------
 44            Ryan's Pointe Apartments        N/A                                                        N/A
---------------------------------------------------------------------------------------------------------------------------
 45            Cleveland Street Square         N/A                                                        N/A
---------------------------------------------------------------------------------------------------------------------------
 47            Rivermont Apartments            N/A                                                        N/A
---------------------------------------------------------------------------------------------------------------------------
 50            Westover Gallery Shopping       N/A
               Center                                                                                     N/A
---------------------------------------------------------------------------------------------------------------------------
 53            Trestles of Houston Apartments  N/A                                                        N/A
---------------------------------------------------------------------------------------------------------------------------
 54            Pemstar, Inc. Headquarters      N/A                                                        N/A
---------------------------------------------------------------------------------------------------------------------------
 56            Riverbend Apartments            N/A                                                        N/A
---------------------------------------------------------------------------------------------------------------------------
 57            D'Adrian Meadows Apartments     N/A                                                        N/A
---------------------------------------------------------------------------------------------------------------------------
 58            Park Place                      N/A                                                        N/A
---------------------------------------------------------------------------------------------------------------------------
 59            Millstone Lakes Apartments      N/A                                                        N/A
---------------------------------------------------------------------------------------------------------------------------
 61            Aspen Woods                     N/A                                                        N/A
---------------------------------------------------------------------------------------------------------------------------
 62            Iliff Commons Shopping Center   N/A                                                        N/A
---------------------------------------------------------------------------------------------------------------------------

<CAPTION>

  #   Crossed  Loan Name                       Additional                     Additional                     Exisiting
                                               Collateral                     Collateral                     Secondary
                                               Event Date                    Description                     Financing
--------------------------------------------------------------------------------------------------------------------------
<S>   <C>      <C>                             <C>          <C>                                              <C>
  1            Circle Centre Mall              N/A          N/A                                                  N/A
--------------------------------------------------------------------------------------------------------------------------
  2            Wanamaker Building - Office     N/A          N/A                                              $16,000,000
--------------------------------------------------------------------------------------------------------------------------
  4     (A)    Mira Mesa Market Center West    N/A          N/A                                                  N/A
--------------------------------------------------------------------------------------------------------------------------
  5     (A)    Mira Mesa Market Center East    N/A          N/A                                                  N/A
--------------------------------------------------------------------------------------------------------------------------
  6     (B)    PCCP - Commerce Centre          N/A          N/A                                                  N/A
--------------------------------------------------------------------------------------------------------------------------
  7     (B)    PCCP - Paramount Distribution
               Center                          N/A          N/A                                                  N/A
--------------------------------------------------------------------------------------------------------------------------
  8     (B)    PCCP - 301 Walnut               N/A          N/A                                                  N/A
--------------------------------------------------------------------------------------------------------------------------
 9A            Mayfair Mall - Retail           N/A          N/A                                                  N/A
--------------------------------------------------------------------------------------------------------------------------
 9B            Mayfair Mall - Office Complex   N/A          N/A                                                  N/A
--------------------------------------------------------------------------------------------------------------------------
 10            540 Madison Avenue              N/A          N/A                                                  N/A
--------------------------------------------------------------------------------------------------------------------------
 11            Town & Country Apartments -
               Urbana                          N/A          N/A                                                  N/A
--------------------------------------------------------------------------------------------------------------------------
 16     (C)    Red Lion Hotel Port Angeles     N/A          N/A                                                  N/A
--------------------------------------------------------------------------------------------------------------------------
 17     (C)    Red Lion Hotel Yakima Center    N/A          N/A                                                  N/A
--------------------------------------------------------------------------------------------------------------------------
 18     (C)    Red Lion Hotel Eureka           N/A          N/A                                                  N/A
--------------------------------------------------------------------------------------------------------------------------
 19     (C)    Red Lion Hotel Twin Falls       N/A          N/A                                                  N/A
--------------------------------------------------------------------------------------------------------------------------
 20     (C)    Red Lion Hotel Kennewick        N/A          N/A                                                  N/A
--------------------------------------------------------------------------------------------------------------------------
 21            Arlington & Bradley Office
               Center                          N/A          N/A                                              $6,000,000
--------------------------------------------------------------------------------------------------------------------------
 23            780 James P. Casey Road         N/A          N/A                                                  N/A
--------------------------------------------------------------------------------------------------------------------------
 24            800 Apollo                      N/A          N/A                                                  N/A
--------------------------------------------------------------------------------------------------------------------------
 25            Regent Industrial Center        N/A          N/A                                                  N/A
--------------------------------------------------------------------------------------------------------------------------
 26            Sarasota Gateway                N/A          N/A                                                  N/A
--------------------------------------------------------------------------------------------------------------------------
 27            Bristol Farms Apartments        N/A          N/A                                                  N/A
--------------------------------------------------------------------------------------------------------------------------
 28            Country View Mobile Home Park   N/A          N/A                                                  N/A
--------------------------------------------------------------------------------------------------------------------------
 29            University Commons              N/A          N/A                                                  N/A
--------------------------------------------------------------------------------------------------------------------------
 30            Princeton Square Apartments     N/A          N/A                                               $906,000
--------------------------------------------------------------------------------------------------------------------------
 31            Burlington Center Mall          N/A          N/A                                                  N/A
--------------------------------------------------------------------------------------------------------------------------
 32            Club at Tranquility Lake        N/A          N/A                                                  N/A
--------------------------------------------------------------------------------------------------------------------------
 33            Warner Center Business Park     N/A          N/A                                                  N/A
--------------------------------------------------------------------------------------------------------------------------
 34            Expressway Mall                 3/12/2004    Release upon: i) DSCR of 1.35, ii) Gross Income
                                                            of $1,700,000                                        N/A
--------------------------------------------------------------------------------------------------------------------------
 35            Airline Shopping Center         12/31/2004   Release upon: i) DSCR <= 1.20, ii) satisfactory      N/A
                                                            lease with Goodyear Tire and iii) receipt of
                                                            tenant estoppel for Goodyear Tire.
--------------------------------------------------------------------------------------------------------------------------
 36            Windward Village Shopping       10/14/2004   Release upon: i) Occupancy of 96%; ii) Monthly       N/A
               Center                                       rental income of at least $105,000; iii) DSCR
                                                            of 1.43; Executed leases totaling 5,868 sf w/
                                                            rental rate no less than $22 psf for min. term
                                                            of 3 years.
--------------------------------------------------------------------------------------------------------------------------
 37            Playa Blanca Apartments         N/A          N/A                                                  N/A
--------------------------------------------------------------------------------------------------------------------------
 38            Torrey View Corporate Center    N/A          N/A                                                  N/A
--------------------------------------------------------------------------------------------------------------------------
 41            The Moorings Apartments         N/A          N/A                                                  N/A
--------------------------------------------------------------------------------------------------------------------------
 42            5th & Lamar Retail/Office       6/9/2004     Release upon: i) Garage/Retail improvements          N/A
               Development                                  shall be fully completed; ii) OfficeMax
                                                            Confirmation verifying all OfficeMax Payments
                                                            have been paid
--------------------------------------------------------------------------------------------------------------------------
 43            American Village on the Lake
               Apartments                      N/A          N/A                                                  N/A
--------------------------------------------------------------------------------------------------------------------------
 44            Ryan's Pointe Apartments        N/A          N/A                                               $600,000
--------------------------------------------------------------------------------------------------------------------------
 45            Cleveland Street Square         N/A          N/A                                                  N/A
--------------------------------------------------------------------------------------------------------------------------
 47            Rivermont Apartments            N/A          N/A                                                  N/A
--------------------------------------------------------------------------------------------------------------------------
 50            Westover Gallery Shopping
               Center                          N/A          N/A                                                  N/A
--------------------------------------------------------------------------------------------------------------------------
 53            Trestles of Houston Apartments  N/A          N/A                                                  N/A
--------------------------------------------------------------------------------------------------------------------------
 54            Pemstar, Inc. Headquarters      N/A          N/A                                                  N/A
--------------------------------------------------------------------------------------------------------------------------
 56            Riverbend Apartments            N/A          N/A                                                  N/A
--------------------------------------------------------------------------------------------------------------------------
 57            D'Adrian Meadows Apartments     N/A          N/A                                                  N/A
--------------------------------------------------------------------------------------------------------------------------
 58            Park Place                      N/A          N/A                                                  N/A
--------------------------------------------------------------------------------------------------------------------------
 59            Millstone Lakes Apartments      N/A          N/A                                                  N/A
--------------------------------------------------------------------------------------------------------------------------
 61            Aspen Woods                     N/A          N/A                                                  N/A
--------------------------------------------------------------------------------------------------------------------------
 62            Iliff Commons Shopping Center   N/A          N/A                                                  N/A
--------------------------------------------------------------------------------------------------------------------------
</TABLE>

                                                               II-10
<PAGE>

<TABLE>
<CAPTION>

  #   Crossed  Loan Name                                                Earnout                              Additional
                                                                        Reserve                              Collateral
                                                                      Description                              Amount
---------------------------------------------------------------------------------------------------------------------------
<S>   <C>      <C>                             <C>                                                        <C>
 63            Atlantic Boulevard Shopping     N/A
               Center                                                                                     N/A
---------------------------------------------------------------------------------------------------------------------------
 64            Shoppes at Brandon Farms        N/A                                                        N/A
---------------------------------------------------------------------------------------------------------------------------
 65            Court Street Plaza Shopping     N/A
               Center                                                                                     N/A
---------------------------------------------------------------------------------------------------------------------------
 67            300 Alexander Park              N/A                                                        N/A
---------------------------------------------------------------------------------------------------------------------------
 68            4861 & 4891 Telsa Drive         N/A                                                        N/A
---------------------------------------------------------------------------------------------------------------------------
 69            Longview Meadow Apartments      N/A                                                        N/A
---------------------------------------------------------------------------------------------------------------------------
 70            8501 LaSalle Road               N/A                                                        N/A
---------------------------------------------------------------------------------------------------------------------------
 71            Trestles of Baytown Apartments  N/A                                                        N/A
---------------------------------------------------------------------------------------------------------------------------
 72            Santa Fe Place Apartments       N/A                                                        N/A
---------------------------------------------------------------------------------------------------------------------------
 73            Plumtree Professional Center    N/A                                                        N/A
---------------------------------------------------------------------------------------------------------------------------
 75            Canyon Woods Apartments         N/A                                                        N/A
---------------------------------------------------------------------------------------------------------------------------
 76            Grove Street                    N/A                                                        N/A
---------------------------------------------------------------------------------------------------------------------------
 78            Ashley Park Apartments          N/A                                                        N/A
---------------------------------------------------------------------------------------------------------------------------
 79            Rosemont Retail Center          Release upon: i) estoppel certificate for Starbucks        N/A
                                               lease, ii) issuance of original subordination,
                                               non-disturbance and attornment agreement by Starbucks,
                                               iii) cancelled check reflecting minimum rent.
---------------------------------------------------------------------------------------------------------------------------
 81            Cardinal Shopping Center        N/A                                                        N/A
---------------------------------------------------------------------------------------------------------------------------
 82            Grogan's Mill Village Center    N/A                                                        N/A
---------------------------------------------------------------------------------------------------------------------------
 83            Atlas Valley Shopping Center    N/A                                                        N/A
---------------------------------------------------------------------------------------------------------------------------
 84            Heights Garden Apartments       N/A                                                        N/A
---------------------------------------------------------------------------------------------------------------------------
 85            Radnor Towers Apartments        N/A                                                        N/A
---------------------------------------------------------------------------------------------------------------------------
 87            10 Canebrake Boulevard          N/A                                                        N/A
---------------------------------------------------------------------------------------------------------------------------
 88            The Forest Apartments           N/A                                                        N/A
---------------------------------------------------------------------------------------------------------------------------
 89            Gristedes - 3rd Ave. and 36th   N/A
               Street                                                                                     N/A
---------------------------------------------------------------------------------------------------------------------------
 90            111 & 121 Roberts Street        N/A                                                        N/A
---------------------------------------------------------------------------------------------------------------------------
 91            Richland Village Shopping       Release upon: i) Completion of the Capital Improvements,   $150,000.00
               Center                          ii) Evidence that all parties have been paid for labor,
                                               iii) Invoices showing costs no less than $150,000,
                                               iv) Base rental income of $540,000, v) Vacancy no
                                               greater than 7%

---------------------------------------------------------------------------------------------------------------------------
 92            Pacific West Apartments         N/A                                                        N/A
---------------------------------------------------------------------------------------------------------------------------
 93            Atrium Medical Office Building  N/A                                                        N/A
---------------------------------------------------------------------------------------------------------------------------
 94            Wingate Inn Fayetteville        N/A                                                        N/A
---------------------------------------------------------------------------------------------------------------------------
 95            Millside Building               N/A                                                        N/A
---------------------------------------------------------------------------------------------------------------------------
 100           Market at Southern Pines        N/A                                                        N/A
---------------------------------------------------------------------------------------------------------------------------
 101           Palm Shadows MH & RV Park       N/A                                                        N/A
---------------------------------------------------------------------------------------------------------------------------
 103           Anderson Oaks Mobile Home Park  N/A                                                        N/A
---------------------------------------------------------------------------------------------------------------------------
 108           Magic Valley Park               N/A                                                        N/A
---------------------------------------------------------------------------------------------------------------------------
 109           River Park Apartments           N/A                                                        N/A
---------------------------------------------------------------------------------------------------------------------------
 110           Portway Plaza Office Building   N/A                                                        N/A
---------------------------------------------------------------------------------------------------------------------------
 111           Marigold Apartments             N/A                                                        N/A
---------------------------------------------------------------------------------------------------------------------------
 112           Carlton Apartments              N/A                                                        N/A
---------------------------------------------------------------------------------------------------------------------------
 113    (D)    Ramey's Mobile Home Park        N/A                                                        N/A
---------------------------------------------------------------------------------------------------------------------------
 114    (D)    Bexley Mobile Home Park         N/A                                                        N/A
---------------------------------------------------------------------------------------------------------------------------
 117           Lincoln Professional Plaza      N/A                                                        N/A
---------------------------------------------------------------------------------------------------------------------------
 118           Santa Grande Mobile Home Park   N/A                                                        N/A
---------------------------------------------------------------------------------------------------------------------------
 119           301 N. Brand Blvd.              N/A                                                        N/A
---------------------------------------------------------------------------------------------------------------------------
 120           Tropicana Del Este Apartments   N/A                                                        N/A
---------------------------------------------------------------------------------------------------------------------------
 123           Sundance Village MHP            N/A                                                        N/A
---------------------------------------------------------------------------------------------------------------------------
 124           University Plaza                N/A                                                        N/A
---------------------------------------------------------------------------------------------------------------------------
 125           Campbell Station Shopping       N/A
               Center                                                                                     N/A
---------------------------------------------------------------------------------------------------------------------------
 126           Southwest Storage               N/A                                                        N/A
---------------------------------------------------------------------------------------------------------------------------
 129           Greenbriar MHP                  N/A                                                        N/A
---------------------------------------------------------------------------------------------------------------------------
 130           Trafalgar Square Apartments     N/A                                                        N/A
---------------------------------------------------------------------------------------------------------------------------
 131           Queens Lane Apartments          N/A                                                        N/A
---------------------------------------------------------------------------------------------------------------------------

<CAPTION>

  #   Crossed  Loan Name                       Additional                     Additional                     Exisiting
                                               Collateral                     Collateral                     Secondary
                                               Event Date                    Description                     Financing
--------------------------------------------------------------------------------------------------------------------------
<S>   <C>      <C>                             <C>          <C>                                              <C>
 63            Atlantic Boulevard Shopping
               Center                          N/A          N/A                                                  N/A
--------------------------------------------------------------------------------------------------------------------------
 64            Shoppes at Brandon Farms        N/A          N/A                                                  N/A
--------------------------------------------------------------------------------------------------------------------------
 65            Court Street Plaza Shopping
               Center                          N/A          N/A                                                  N/A
--------------------------------------------------------------------------------------------------------------------------
 67            300 Alexander Park              N/A          N/A                                                  N/A
--------------------------------------------------------------------------------------------------------------------------
 68            4861 & 4891 Telsa Drive         N/A          N/A                                                  N/A
--------------------------------------------------------------------------------------------------------------------------
 69            Longview Meadow Apartments      N/A          N/A                                                  N/A
--------------------------------------------------------------------------------------------------------------------------
 70            8501 LaSalle Road               N/A          N/A                                                  N/A
--------------------------------------------------------------------------------------------------------------------------
 71            Trestles of Baytown Apartments  N/A          N/A                                                  N/A
--------------------------------------------------------------------------------------------------------------------------
 72            Santa Fe Place Apartments       N/A          N/A                                                  N/A
--------------------------------------------------------------------------------------------------------------------------
 73            Plumtree Professional Center    N/A          N/A                                                  N/A
--------------------------------------------------------------------------------------------------------------------------
 75            Canyon Woods Apartments         N/A          N/A                                               $310,000
--------------------------------------------------------------------------------------------------------------------------
 76            Grove Street                    N/A          N/A                                                  N/A
--------------------------------------------------------------------------------------------------------------------------
 78            Ashley Park Apartments          N/A          N/A                                                  N/A
--------------------------------------------------------------------------------------------------------------------------
 79            Rosemont Retail Center          N/A          N/A                                                  N/A

--------------------------------------------------------------------------------------------------------------------------
 81            Cardinal Shopping Center        N/A          N/A                                                  N/A
--------------------------------------------------------------------------------------------------------------------------
 82            Grogan's Mill Village Center    N/A          N/A                                                  N/A
--------------------------------------------------------------------------------------------------------------------------
 83            Atlas Valley Shopping Center    N/A          N/A                                                  N/A
--------------------------------------------------------------------------------------------------------------------------
 84            Heights Garden Apartments       N/A          N/A                                                  N/A
--------------------------------------------------------------------------------------------------------------------------
 85            Radnor Towers Apartments        N/A          N/A                                                  N/A
--------------------------------------------------------------------------------------------------------------------------
 87            10 Canebrake Boulevard          N/A          N/A                                                  N/A
--------------------------------------------------------------------------------------------------------------------------
 88            The Forest Apartments           N/A          N/A                                                  N/A
--------------------------------------------------------------------------------------------------------------------------
 89            Gristedes - 3rd Ave. and 36th
               Street                          N/A          N/A                                                  N/A
--------------------------------------------------------------------------------------------------------------------------
 90            111 & 121 Roberts Street        N/A          N/A                                                  N/A
--------------------------------------------------------------------------------------------------------------------------
 91            Richland Village Shopping       2/11/2006    Release upon: i) Completion of the Capital        $600,000
               Center                                       Improvements, ii) Evidence that all parties
                                                            have been paid for labor, iii) Invoices showing
                                                            costs no less than $150,000, iv) Base rental
                                                            income of $540,000, v) Vacancy no greater
                                                            than 7%
--------------------------------------------------------------------------------------------------------------------------
 92            Pacific West Apartments         N/A          N/A                                                  N/A
--------------------------------------------------------------------------------------------------------------------------
 93            Atrium Medical Office Building  N/A          N/A                                                  N/A
--------------------------------------------------------------------------------------------------------------------------
 94            Wingate Inn Fayetteville        N/A          N/A                                                  N/A
--------------------------------------------------------------------------------------------------------------------------
 95            Millside Building               N/A          N/A                                                  N/A
--------------------------------------------------------------------------------------------------------------------------
 100           Market at Southern Pines        N/A          N/A                                                  N/A
--------------------------------------------------------------------------------------------------------------------------
 101           Palm Shadows MH & RV Park       N/A          N/A                                                  N/A
--------------------------------------------------------------------------------------------------------------------------
 103           Anderson Oaks Mobile Home Park  N/A          N/A                                                  N/A
--------------------------------------------------------------------------------------------------------------------------
 108           Magic Valley Park               N/A          N/A                                               $200,000
--------------------------------------------------------------------------------------------------------------------------
 109           River Park Apartments           N/A          N/A                                                  N/A
--------------------------------------------------------------------------------------------------------------------------
 110           Portway Plaza Office Building   N/A          N/A                                                  N/A
--------------------------------------------------------------------------------------------------------------------------
 111           Marigold Apartments             N/A          N/A                                                  N/A
--------------------------------------------------------------------------------------------------------------------------
 112           Carlton Apartments              N/A          N/A                                                  N/A
--------------------------------------------------------------------------------------------------------------------------
 113    (D)    Ramey's Mobile Home Park        N/A          N/A                                                  N/A
--------------------------------------------------------------------------------------------------------------------------
 114    (D)    Bexley Mobile Home Park         N/A          N/A                                                  N/A
--------------------------------------------------------------------------------------------------------------------------
 117           Lincoln Professional Plaza      N/A          N/A                                                  N/A
--------------------------------------------------------------------------------------------------------------------------
 118           Santa Grande Mobile Home Park   N/A          N/A                                                  N/A
--------------------------------------------------------------------------------------------------------------------------
 119           301 N. Brand Blvd.              N/A          N/A                                                  N/A
--------------------------------------------------------------------------------------------------------------------------
 120           Tropicana Del Este Apartments   N/A          N/A                                                  N/A
--------------------------------------------------------------------------------------------------------------------------
 123           Sundance Village MHP            N/A          N/A                                                  N/A
--------------------------------------------------------------------------------------------------------------------------
 124           University Plaza                N/A          N/A                                                  N/A
--------------------------------------------------------------------------------------------------------------------------
 125           Campbell Station Shopping
               Center                          N/A          N/A                                                  N/A
--------------------------------------------------------------------------------------------------------------------------
 126           Southwest Storage               N/A          N/A                                                  N/A
--------------------------------------------------------------------------------------------------------------------------
 129           Greenbriar MHP                  N/A          N/A                                                  N/A
--------------------------------------------------------------------------------------------------------------------------
 130           Trafalgar Square Apartments     N/A          N/A                                                  N/A
--------------------------------------------------------------------------------------------------------------------------
 131           Queens Lane Apartments          N/A          N/A                                                  N/A
--------------------------------------------------------------------------------------------------------------------------
</TABLE>

                                                               II-11
<PAGE>

<TABLE>
<CAPTION>
  #   Crossed  Loan Name                                                Earnout                              Additional
                                                                        Reserve                              Collateral
                                                                      Description                              Amount
---------------------------------------------------------------------------------------------------------------------------
<S>   <C>      <C>                             <C>                                                        <C>
 133           327 East 52nd Street            N/A                                                        N/A
---------------------------------------------------------------------------------------------------------------------------
 134           Naples Place IV                 N/A                                                        N/A
---------------------------------------------------------------------------------------------------------------------------
 135           Park City Shopping Center       N/A                                                        N/A
---------------------------------------------------------------------------------------------------------------------------
 136           Kennesaw Promenade              N/A                                                        N/A
---------------------------------------------------------------------------------------------------------------------------
 137           Lakewood Village - FL           N/A                                                        N/A
---------------------------------------------------------------------------------------------------------------------------
 139           2317-2335 Market Street         Release upon: i) on or before 6/20/2003 borrower should    $6,812.50
                                               lender a permit allowing Paolo Travel space to be used
                                               as an office; ii) on or before 8/4/2003 Paulo Travel
                                               space shall be converted to residential from office

---------------------------------------------------------------------------------------------------------------------------
 140           Gloucester Apartments           N/A                                                        N/A
---------------------------------------------------------------------------------------------------------------------------
 141           Bayou Villa Apartments          N/A                                                        N/A
---------------------------------------------------------------------------------------------------------------------------
 142           South Michigan Avenue Office    N/A
               Building                                                                                   N/A
---------------------------------------------------------------------------------------------------------------------------
 143           Gateway Retail Center           N/A                                                        N/A
---------------------------------------------------------------------------------------------------------------------------
 144           Murphy Retail Center            N/A                                                        N/A
---------------------------------------------------------------------------------------------------------------------------
 145           Anaheim Street Retail Center    N/A                                                        N/A
---------------------------------------------------------------------------------------------------------------------------
 146           Park Street Retail              N/A                                                        N/A
---------------------------------------------------------------------------------------------------------------------------
 147           Sprinkle Ridge Apartments       N/A                                                        N/A
---------------------------------------------------------------------------------------------------------------------------
 148           Melonie Square                  N/A                                                        N/A
---------------------------------------------------------------------------------------------------------------------------
 149           7000 North Freeway              N/A                                                        N/A
---------------------------------------------------------------------------------------------------------------------------
 150           Sunny Isle Apartments           N/A                                                        N/A
---------------------------------------------------------------------------------------------------------------------------
 151           Nichols Station I Apartments    N/A                                                        N/A
---------------------------------------------------------------------------------------------------------------------------
 152           Biddeford Apartments            N/A                                                        N/A
---------------------------------------------------------------------------------------------------------------------------
 153           Mount Vernon Apartments         N/A                                                        N/A
---------------------------------------------------------------------------------------------------------------------------
 154           Cambridge Estates Apts (Phase   N/A
               III)                                                                                       N/A
---------------------------------------------------------------------------------------------------------------------------
 155           South Ynez Apartments           N/A                                                        N/A
---------------------------------------------------------------------------------------------------------------------------
 156           Colorado Square / Medlin Place  N/A
               Apartments                                                                                 N/A
---------------------------------------------------------------------------------------------------------------------------
 157           Country Oaks Mobile Home Park   N/A                                                        N/A
---------------------------------------------------------------------------------------------------------------------------
 158           Greenville Retail Center        N/A                                                        N/A
---------------------------------------------------------------------------------------------------------------------------
 159           Cliffview Crossing              N/A                                                        N/A
---------------------------------------------------------------------------------------------------------------------------
 160           Grove Apartments                N/A                                                        N/A
---------------------------------------------------------------------------------------------------------------------------
 161           Greentree Apartments            N/A                                                        N/A
---------------------------------------------------------------------------------------------------------------------------
 162           Coachlite Apartments            N/A                                                        N/A
---------------------------------------------------------------------------------------------------------------------------
 163           Northgate Terrace I Apartments  N/A                                                        N/A
---------------------------------------------------------------------------------------------------------------------------
 164           150 Broad Street                N/A                                                        N/A
---------------------------------------------------------------------------------------------------------------------------
 165           Sunset Avenue Apartments        N/A                                                        N/A
---------------------------------------------------------------------------------------------------------------------------
 166           Classic Village                 N/A                                                        N/A
---------------------------------------------------------------------------------------------------------------------------
 167           Knox Landing Apartments         N/A                                                        N/A
---------------------------------------------------------------------------------------------------------------------------
 168           1013 West Linden Street         N/A                                                        N/A
---------------------------------------------------------------------------------------------------------------------------
 169           Ledgewood Mobile Home Park      N/A                                                        N/A
---------------------------------------------------------------------------------------------------------------------------
 170           83 Elizabeth Street             N/A                                                        N/A
---------------------------------------------------------------------------------------------------------------------------
 171           1235 Elm Street                 N/A                                                        N/A
---------------------------------------------------------------------------------------------------------------------------
116A           El Valle del Sol                N/A                                                        N/A
---------------------------------------------------------------------------------------------------------------------------
116B           El Valle de la Luna             N/A                                                        N/A
---------------------------------------------------------------------------------------------------------------------------
132A           San Juan Gardens                N/A                                                        N/A
---------------------------------------------------------------------------------------------------------------------------
132B           Friendly Village                N/A                                                        N/A
---------------------------------------------------------------------------------------------------------------------------

<CAPTION>

  #   Crossed  Loan Name                                                Earnout                              Additional
                                                                        Reserve                              Collateral
                                                                      Description                              Amount
---------------------------------------------------------------------------------------------------------------------------
<S>   <C>      <C>                             <C>                                                        <C>
 133           327 East 52nd Street            N/A          N/A                                                  N/A
---------------------------------------------------------------------------------------------------------------------------
 134           Naples Place IV                 N/A          N/A                                                  N/A
---------------------------------------------------------------------------------------------------------------------------
 135           Park City Shopping Center       N/A          N/A                                                  N/A
---------------------------------------------------------------------------------------------------------------------------
 136           Kennesaw Promenade              N/A          N/A                                                  N/A
---------------------------------------------------------------------------------------------------------------------------
 137           Lakewood Village - FL           N/A          N/A                                                  N/A
---------------------------------------------------------------------------------------------------------------------------
 139           2317-2335 Market Street         6/20/2003    Release upon: i) on or before 6/20/2003              N/A
                                                            borrower should lender a permit allowing
                                                            Paulo Travel space to be used as an
                                                            office, ii) on or before 8/4/2003 Paulo
                                                            Travel space shall be converted to
                                                            residential from office.
---------------------------------------------------------------------------------------------------------------------------
 140           Gloucester Apartments           N/A          N/A                                                  N/A
---------------------------------------------------------------------------------------------------------------------------
 141           Bayou Villa Apartments          N/A          N/A                                                  N/A
---------------------------------------------------------------------------------------------------------------------------
 142           South Michigan Avenue Office
               Building                        N/A          N/A                                                  N/A
---------------------------------------------------------------------------------------------------------------------------
 143           Gateway Retail Center           N/A          N/A                                                  N/A
---------------------------------------------------------------------------------------------------------------------------
 144           Murphy Retail Center            N/A          N/A                                                  N/A
---------------------------------------------------------------------------------------------------------------------------
 145           Anaheim Street Retail Center    N/A          N/A                                                  N/A
---------------------------------------------------------------------------------------------------------------------------
 146           Park Street Retail              N/A          N/A                                                  N/A
---------------------------------------------------------------------------------------------------------------------------
 147           Sprinkle Ridge Apartments       N/A          N/A                                                  N/A
---------------------------------------------------------------------------------------------------------------------------
 148           Melonie Square                  N/A          N/A                                                  N/A
---------------------------------------------------------------------------------------------------------------------------
 149           7000 North Freeway              N/A          N/A                                                  N/A
---------------------------------------------------------------------------------------------------------------------------
 150           Sunny Isle Apartments           N/A          N/A                                                  N/A
---------------------------------------------------------------------------------------------------------------------------
 151           Nichols Station I Apartments    N/A          N/A                                                  N/A
---------------------------------------------------------------------------------------------------------------------------
 152           Biddeford Apartments            N/A          N/A                                                  N/A
---------------------------------------------------------------------------------------------------------------------------
 153           Mount Vernon Apartments         N/A          N/A                                                  N/A
---------------------------------------------------------------------------------------------------------------------------
 154           Cambridge Estates Apts (Phase
               III)                            N/A          N/A                                                  N/A
---------------------------------------------------------------------------------------------------------------------------
 155           South Ynez Apartments           N/A          N/A                                                  N/A
---------------------------------------------------------------------------------------------------------------------------
 156           Colorado Square / Medlin Place
               Apartments                      N/A          N/A                                                  N/A
---------------------------------------------------------------------------------------------------------------------------
 157           Country Oaks Mobile Home Park   N/A          N/A                                                  N/A
---------------------------------------------------------------------------------------------------------------------------
 158           Greenville Retail Center        N/A          N/A                                                  N/A
---------------------------------------------------------------------------------------------------------------------------
 159           Cliffview Crossing              N/A          N/A                                                  N/A
---------------------------------------------------------------------------------------------------------------------------
 160           Grove Apartments                N/A          N/A                                                  N/A
---------------------------------------------------------------------------------------------------------------------------
 161           Greentree Apartments            N/A          N/A                                                  N/A
---------------------------------------------------------------------------------------------------------------------------
 162           Coachlite Apartments            N/A          N/A                                                  N/A
---------------------------------------------------------------------------------------------------------------------------
 163           Northgate Terrace I Apartments  N/A          N/A                                                  N/A
---------------------------------------------------------------------------------------------------------------------------
 164           150 Broad Street                N/A          N/A                                                  N/A
---------------------------------------------------------------------------------------------------------------------------
 165           Sunset Avenue Apartments        N/A          N/A                                                  N/A
---------------------------------------------------------------------------------------------------------------------------
 166           Classic Village                 N/A          N/A                                                  N/A
---------------------------------------------------------------------------------------------------------------------------
 167           Knox Landing Apartments         N/A          N/A                                                  N/A
---------------------------------------------------------------------------------------------------------------------------
 168           1013 West Linden Street         N/A          N/A                                                  N/A
---------------------------------------------------------------------------------------------------------------------------
 169           Ledgewood Mobile Home Park      N/A          N/A                                                  N/A
---------------------------------------------------------------------------------------------------------------------------
 170           83 Elizabeth Street             N/A          N/A                                                  N/A
---------------------------------------------------------------------------------------------------------------------------
 171           1235 Elm Street                 N/A          N/A                                                  N/A
---------------------------------------------------------------------------------------------------------------------------
116A           El Valle del Sol                N/A          N/A                                                  N/A
---------------------------------------------------------------------------------------------------------------------------
116B           El Valle de la Luna             N/A          N/A                                                  N/A
---------------------------------------------------------------------------------------------------------------------------
132A           San Juan Gardens                N/A          N/A                                                  N/A
---------------------------------------------------------------------------------------------------------------------------
132B           Friendly Village                N/A          N/A                                                  N/A
---------------------------------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
  #   Crossed  Loan Name                                        Description of Exisiting                  Description of
                                                                   Secondary Financing                    Lock Box
-----------------------------------------------------------------------------------------------------------------------------
<S>   <C>      <C>                             <C>                                                        <C>
  1            Circle Centre Mall              N/A                                                               Hard
-----------------------------------------------------------------------------------------------------------------------------
  2            Wanamaker Building - Office     Secured ($15,000,000); Unsecured ($1,000,000)                     Hard
-----------------------------------------------------------------------------------------------------------------------------
  4     (A)    Mira Mesa Market Center West    N/A                                                            Springing
-----------------------------------------------------------------------------------------------------------------------------
  5     (A)    Mira Mesa Market Center East    N/A                                                            Springing
-----------------------------------------------------------------------------------------------------------------------------
  6     (B)    PCCP - Commerce Centre          N/A                                                               Hard
-----------------------------------------------------------------------------------------------------------------------------
  7     (B)    PCCP - Paramount Distribution   N/A                                                               Hard
               Center
-----------------------------------------------------------------------------------------------------------------------------

                                                               II-12

<PAGE>

  #   Crossed  Loan Name                                        Description of Exisiting                  Description of
                                                                   Secondary Financing                    Lock Box
-----------------------------------------------------------------------------------------------------------------------------
  8     (B)    PCCP - 301 Walnut               N/A                                                               Hard
-----------------------------------------------------------------------------------------------------------------------------
 9A            Mayfair Mall - Retail           N/A                                                               Hard
-----------------------------------------------------------------------------------------------------------------------------
 9B            Mayfair Mall - Office Complex   N/A                                                               Hard
-----------------------------------------------------------------------------------------------------------------------------
 10            540 Madison Avenue              N/A                                                               Hard
-----------------------------------------------------------------------------------------------------------------------------
 11            Town & Country Apartments -     N/A                                                            Springing
               Urbana
-----------------------------------------------------------------------------------------------------------------------------
 16     (C)    Red Lion Hotel Port Angeles     N/A                                                               Hard
-----------------------------------------------------------------------------------------------------------------------------
 17     (C)    Red Lion Hotel Yakima Center    N/A                                                               Hard
-----------------------------------------------------------------------------------------------------------------------------
 18     (C)    Red Lion Hotel Eureka           N/A                                                               Hard
-----------------------------------------------------------------------------------------------------------------------------
 19     (C)    Red Lion Hotel Twin Falls       N/A                                                               Hard
-----------------------------------------------------------------------------------------------------------------------------
 20     (C)    Red Lion Hotel Kennewick        N/A                                                               Hard
-----------------------------------------------------------------------------------------------------------------------------
 21            Arlington & Bradley Office      Mezzanine Loan                                                    N/A
               Center
-----------------------------------------------------------------------------------------------------------------------------
 23            780 James P. Casey Road         N/A                                                            Springing
-----------------------------------------------------------------------------------------------------------------------------
 24            800 Apollo                      N/A                                                            Springing
-----------------------------------------------------------------------------------------------------------------------------
 25            Regent Industrial Center        N/A                                                             Modified
-----------------------------------------------------------------------------------------------------------------------------
 26            Sarasota Gateway                N/A                                                               N/A
-----------------------------------------------------------------------------------------------------------------------------
 27            Bristol Farms Apartments        N/A                                                            Springing
-----------------------------------------------------------------------------------------------------------------------------
 28            Country View Mobile Home Park   N/A                                                            Springing
-----------------------------------------------------------------------------------------------------------------------------
 29            University Commons              N/A                                                            Springing
-----------------------------------------------------------------------------------------------------------------------------
 30            Princeton Square Apartments     Secured Note - CBA-Mezzanine Capital Finance, LLC                 N/A
-----------------------------------------------------------------------------------------------------------------------------
 31            Burlington Center Mall          N/A                                                            Springing
-----------------------------------------------------------------------------------------------------------------------------
 32            Club at Tranquility Lake        N/A                                                            Springing
-----------------------------------------------------------------------------------------------------------------------------
 33            Warner Center Business Park     N/A                                                               Hard
-----------------------------------------------------------------------------------------------------------------------------
 34            Expressway Mall                 N/A                                                            Springing
-----------------------------------------------------------------------------------------------------------------------------
 35            Airline Shopping Center         N/A                                                               N/A
-----------------------------------------------------------------------------------------------------------------------------
 36            Windward Village Shopping       N/A                                                               N/A
               Center
-----------------------------------------------------------------------------------------------------------------------------
 37            Playa Blanca Apartments         N/A                                                               N/A
-----------------------------------------------------------------------------------------------------------------------------
 38            Torrey View Corporate Center    N/A                                                            Springing
-----------------------------------------------------------------------------------------------------------------------------
 41            The Moorings Apartments         N/A                                                            Springing
-----------------------------------------------------------------------------------------------------------------------------
 42            5th & Lamar Retail/Office       N/A                                                               N/A
               Development
-----------------------------------------------------------------------------------------------------------------------------
 43            American Village on the Lake    N/A                                                               N/A
               Apartments
-----------------------------------------------------------------------------------------------------------------------------
 44            Ryan's Pointe Apartments        Secured Note - CBA-Mezzanine Capital Finance, LLC                 N/A
-----------------------------------------------------------------------------------------------------------------------------
 45            Cleveland Street Square         N/A                                                            Springing
-----------------------------------------------------------------------------------------------------------------------------
 47            Rivermont Apartments            N/A                                                               Hard
-----------------------------------------------------------------------------------------------------------------------------
 50            Westover Gallery Shopping       N/A                                                               N/A
               Center
-----------------------------------------------------------------------------------------------------------------------------
 53            Trestles of Houston Apartments  N/A                                                               N/A
-----------------------------------------------------------------------------------------------------------------------------
 54            Pemstar, Inc. Headquarters      N/A                                                               Hard
-----------------------------------------------------------------------------------------------------------------------------
 56            Riverbend Apartments            N/A                                                               N/A
-----------------------------------------------------------------------------------------------------------------------------
 57            D'Adrian Meadows Apartments     N/A                                                               N/A
-----------------------------------------------------------------------------------------------------------------------------
 58            Park Place                      N/A                                                            Springing
-----------------------------------------------------------------------------------------------------------------------------
 59            Millstone Lakes Apartments      N/A                                                               N/A
-----------------------------------------------------------------------------------------------------------------------------
 61            Aspen Woods                     N/A                                                            Springing
-----------------------------------------------------------------------------------------------------------------------------
 62            Iliff Commons Shopping Center   N/A                                                               N/A
-----------------------------------------------------------------------------------------------------------------------------
 63            Atlantic Boulevard Shopping     N/A                                                               N/A
               Center
-----------------------------------------------------------------------------------------------------------------------------
 64            Shoppes at Brandon Farms        N/A                                                               N/A
-----------------------------------------------------------------------------------------------------------------------------
 65            Court Street Plaza Shopping     N/A                                                            Springing
               Center
-----------------------------------------------------------------------------------------------------------------------------
 67            300 Alexander Park              N/A                                                            Springing
-----------------------------------------------------------------------------------------------------------------------------
 68            4861 & 4891 Telsa Drive         N/A                                                               N/A
-----------------------------------------------------------------------------------------------------------------------------
 69            Longview Meadow Apartments      N/A                                                               N/A
-----------------------------------------------------------------------------------------------------------------------------
 70            8501 LaSalle Road               N/A                                                               N/A
-----------------------------------------------------------------------------------------------------------------------------
 71            Trestles of Baytown Apartments  N/A                                                               N/A
-----------------------------------------------------------------------------------------------------------------------------
 72            Santa Fe Place Apartments       N/A                                                               N/A
-----------------------------------------------------------------------------------------------------------------------------
 73            Plumtree Professional Center    N/A                                                               N/A
-----------------------------------------------------------------------------------------------------------------------------
 75            Canyon Woods Apartments         Secured Debt - CBA-Mezzanine Capital Finance, LLC                 N/A
-----------------------------------------------------------------------------------------------------------------------------
 76            Grove Street                    N/A                                                               N/A
-----------------------------------------------------------------------------------------------------------------------------
 78            Ashley Park Apartments          N/A                                                               N/A
-----------------------------------------------------------------------------------------------------------------------------

                                                               II-13
<PAGE>

  #   Crossed  Loan Name                                        Description of Exisiting                  Description of
                                                                   Secondary Financing                    Lock Box
-----------------------------------------------------------------------------------------------------------------------------
 79            Rosemont Retail Center          N/A                                                               N/A
-----------------------------------------------------------------------------------------------------------------------------
 81            Cardinal Shopping Center        N/A                                                               N/A
-----------------------------------------------------------------------------------------------------------------------------
 82            Grogan's Mill Village Center    N/A                                                               N/A
-----------------------------------------------------------------------------------------------------------------------------
 83            Atlas Valley Shopping Center    N/A                                                               N/A
-----------------------------------------------------------------------------------------------------------------------------
 84            Heights Garden Apartments       N/A                                                               N/A
-----------------------------------------------------------------------------------------------------------------------------
 85            Radnor Towers Apartments        N/A                                                             Modified
-----------------------------------------------------------------------------------------------------------------------------
 87            10 Canebrake Boulevard          N/A                                                            Springing
-----------------------------------------------------------------------------------------------------------------------------
 88            The Forest Apartments           N/A                                                               N/A
-----------------------------------------------------------------------------------------------------------------------------
 89            Gristedes - 3rd Ave. and 36th   N/A                                                            Springing
               Street
-----------------------------------------------------------------------------------------------------------------------------
 90            111 & 121 Roberts Street        N/A                                                               N/A
-----------------------------------------------------------------------------------------------------------------------------
 91            Richland Village Shopping       Mezzanine - Secured by the rights of limited partners             N/A
               Center                          based on partnership interests
-----------------------------------------------------------------------------------------------------------------------------
 92            Pacific West Apartments         N/A                                                               N/A
-----------------------------------------------------------------------------------------------------------------------------
 93            Atrium Medical Office Building  N/A                                                               N/A
-----------------------------------------------------------------------------------------------------------------------------
 94            Wingate Inn Fayetteville        N/A                                                               N/A
-----------------------------------------------------------------------------------------------------------------------------
 95            Millside Building               N/A                                                               N/A
-----------------------------------------------------------------------------------------------------------------------------
 100           Market at Southern Pines        N/A                                                               N/A
-----------------------------------------------------------------------------------------------------------------------------
 101           Palm Shadows MH & RV Park       N/A                                                               N/A
-----------------------------------------------------------------------------------------------------------------------------
 103           Anderson Oaks Mobile Home Park  N/A                                                               N/A
-----------------------------------------------------------------------------------------------------------------------------
 108           Magic Valley Park               Mezzanine Loan                                                    N/A
-----------------------------------------------------------------------------------------------------------------------------
 109           River Park Apartments           N/A                                                               N/A
-----------------------------------------------------------------------------------------------------------------------------
 110           Portway Plaza Office Building   N/A                                                               N/A
-----------------------------------------------------------------------------------------------------------------------------
 111           Marigold Apartments             N/A                                                               N/A
-----------------------------------------------------------------------------------------------------------------------------
 112           Carlton Apartments              N/A                                                               N/A
-----------------------------------------------------------------------------------------------------------------------------
 113    (D)    Ramey's Mobile Home Park        N/A                                                               N/A
-----------------------------------------------------------------------------------------------------------------------------
 114    (D)    Bexley Mobile Home Park         N/A                                                               N/A
-----------------------------------------------------------------------------------------------------------------------------
 117           Lincoln Professional Plaza      N/A                                                               N/A
-----------------------------------------------------------------------------------------------------------------------------
 118           Santa Grande Mobile Home Park   N/A                                                               N/A
-----------------------------------------------------------------------------------------------------------------------------
 119           301 N. Brand Blvd.              N/A                                                               N/A
-----------------------------------------------------------------------------------------------------------------------------
 120           Tropicana Del Este Apartments   N/A                                                               N/A
-----------------------------------------------------------------------------------------------------------------------------
 123           Sundance Village MHP            N/A                                                               N/A
-----------------------------------------------------------------------------------------------------------------------------
 124           University Plaza                N/A                                                               N/A
-----------------------------------------------------------------------------------------------------------------------------
 125           Campbell Station Shopping       N/A                                                               N/A
               Center
-----------------------------------------------------------------------------------------------------------------------------
 126           Southwest Storage               N/A                                                               N/A
-----------------------------------------------------------------------------------------------------------------------------
 129           Greenbriar MHP                  N/A                                                               N/A
-----------------------------------------------------------------------------------------------------------------------------
 130           Trafalgar Square Apartments     N/A                                                               N/A
-----------------------------------------------------------------------------------------------------------------------------
 131           Queens Lane Apartments          N/A                                                               N/A
-----------------------------------------------------------------------------------------------------------------------------
 133           327 East 52nd Street            N/A                                                               N/A
-----------------------------------------------------------------------------------------------------------------------------
 134           Naples Place IV                 N/A                                                               N/A
-----------------------------------------------------------------------------------------------------------------------------
 135           Park City Shopping Center       N/A                                                               N/A
-----------------------------------------------------------------------------------------------------------------------------
 136           Kennesaw Promenade              N/A                                                            Springing
-----------------------------------------------------------------------------------------------------------------------------
 137           Lakewood Village - FL           N/A                                                               N/A
-----------------------------------------------------------------------------------------------------------------------------
 139           2317-2335 Market Street         N/A                                                               N/A
-----------------------------------------------------------------------------------------------------------------------------
 140           Gloucester Apartments           N/A                                                               N/A
-----------------------------------------------------------------------------------------------------------------------------
 141           Bayou Villa Apartments          N/A                                                               N/A
-----------------------------------------------------------------------------------------------------------------------------
 142           South Michigan Avenue Office    N/A                                                               N/A
               Building
-----------------------------------------------------------------------------------------------------------------------------
 143           Gateway Retail Center           N/A                                                               N/A
-----------------------------------------------------------------------------------------------------------------------------
 144           Murphy Retail Center            N/A                                                               N/A
-----------------------------------------------------------------------------------------------------------------------------
 145           Anaheim Street Retail Center    N/A                                                               N/A
-----------------------------------------------------------------------------------------------------------------------------
 146           Park Street Retail              N/A                                                               N/A
-----------------------------------------------------------------------------------------------------------------------------
 147           Sprinkle Ridge Apartments       N/A                                                               N/A
-----------------------------------------------------------------------------------------------------------------------------
 148           Melonie Square                  N/A                                                               N/A
-----------------------------------------------------------------------------------------------------------------------------
 149           7000 North Freeway              N/A                                                               N/A
-----------------------------------------------------------------------------------------------------------------------------
 150           Sunny Isle Apartments           N/A                                                               N/A
-----------------------------------------------------------------------------------------------------------------------------
 151           Nichols Station I Apartments    N/A                                                               N/A
-----------------------------------------------------------------------------------------------------------------------------
 152           Biddeford Apartments            N/A                                                               N/A
-----------------------------------------------------------------------------------------------------------------------------

                                                               II-14
<PAGE>

  #   Crossed  Loan Name                                        Description of Exisiting                  Description of
                                                                   Secondary Financing                    Lock Box
-----------------------------------------------------------------------------------------------------------------------------
 153           Mount Vernon Apartments         N/A                                                               N/A
-----------------------------------------------------------------------------------------------------------------------------
 154           Cambridge Estates Apts (Phase   N/A                                                               N/A
               III)
-----------------------------------------------------------------------------------------------------------------------------
 155           South Ynez Apartments           N/A                                                               N/A
-----------------------------------------------------------------------------------------------------------------------------
 156           Colorado Square / Medlin Place  N/A                                                               N/A
               Apartments
-----------------------------------------------------------------------------------------------------------------------------
 157           Country Oaks Mobile Home Park   N/A                                                               N/A
-----------------------------------------------------------------------------------------------------------------------------
 158           Greenville Retail Center        N/A                                                               N/A
-----------------------------------------------------------------------------------------------------------------------------
 159           Cliffview Crossing              N/A                                                               N/A
-----------------------------------------------------------------------------------------------------------------------------
 160           Grove Apartments                N/A                                                               N/A
-----------------------------------------------------------------------------------------------------------------------------
 161           Greentree Apartments            N/A                                                               N/A
-----------------------------------------------------------------------------------------------------------------------------
 162           Coachlite Apartments            N/A                                                               N/A
-----------------------------------------------------------------------------------------------------------------------------
 163           Northgate Terrace I Apartments  N/A                                                               N/A
-----------------------------------------------------------------------------------------------------------------------------
 164           150 Broad Street                N/A                                                               N/A
-----------------------------------------------------------------------------------------------------------------------------
 165           Sunset Avenue Apartments        N/A                                                               N/A
-----------------------------------------------------------------------------------------------------------------------------
 166           Classic Village                 N/A                                                               N/A
-----------------------------------------------------------------------------------------------------------------------------
 167           Knox Landing Apartments         N/A                                                               N/A
-----------------------------------------------------------------------------------------------------------------------------
 168           1013 West Linden Street         N/A                                                               N/A
-----------------------------------------------------------------------------------------------------------------------------
 169           Ledgewood Mobile Home Park      N/A                                                               N/A
-----------------------------------------------------------------------------------------------------------------------------
 170           83 Elizabeth Street             N/A                                                               N/A
-----------------------------------------------------------------------------------------------------------------------------
 171           1235 Elm Street                 N/A                                                               N/A
-----------------------------------------------------------------------------------------------------------------------------
116A           El Valle del Sol                N/A                                                               N/A
-----------------------------------------------------------------------------------------------------------------------------
116B           El Valle de la Luna             N/A                                                               N/A
-----------------------------------------------------------------------------------------------------------------------------
132A           San Juan Gardens                N/A                                                               N/A
-----------------------------------------------------------------------------------------------------------------------------
132B           Friendly Village                N/A                                                               N/A
-----------------------------------------------------------------------------------------------------------------------------
</TABLE>

                                                               II-15
<PAGE>

                                                                  SCHEDULE III

                  MORTGAGE LOANS CONSTITUTING MORTGAGE GROUPS

Loan #     Property Name                          Loan Seller   Cut-Off Balance
-------------------------------------------------------------------------------
-------------------------------------------------------------------------------
   4       Mira Mesa Market Center West             Column        $34,402,676
   5       Mira Mesa Market Center East             Column        $28,419,602
-------------------------------------------------------------------------------
-------------------------------------------------------------------------------
   6       PCCP - Commerce Centre                   Column        $38,500,000
   7       PCCP - Paramount Distribution Center     Column        $9,600,000
   8       PCCP - 301 Walnut                        Column        $6,400,000
-------------------------------------------------------------------------------
-------------------------------------------------------------------------------
  16       Red Lion Hotel Port Angeles              Column        $9,079,774
  17       Red Lion Hotel Yakima Center             Column        $5,088,664
  18       Red Lion Hotel Eureka                    Column        $2,993,332
  19       Red Lion Hotel Twin Falls                Column        $2,993,332
  20       Red Lion Hotel Kennewick                 Column        $2,494,443
-------------------------------------------------------------------------------
-------------------------------------------------------------------------------
  113      Ramey's Mobile Home Park                 Column        $1,666,448
  114      Bexley Mobile Home Park                  Column        $1,095,094
-------------------------------------------------------------------------------

                                    III-1
<PAGE>

                                                                  SCHEDULE IV

                        MORTGAGE LOANS WITH LOST NOTES

                                     None

                                     IV-1
<PAGE>

                                                                    SCHEDULE V

                            EXCEPTIONS TO SELLER'S
                        REPRESENTATIONS AND WARRANTIES

          Reference is made to the Representations and Warranties contained in
Exhibit A corresponding to the roman numerals listed below:

                              Representation #(x)

          In the case of five (5) cross-collateralized mortgage loans
identified as Red Lion Hotel Eureka, Red Lion Hotel Kennewick, Red Lion Hotel
Port Angeles, Red Lion Hotel Twin Falls and Red Lion Hotel Yakima, the
borrower is entitled to hold a limited amount of equipment used in the
operation of the hotel by means of equipment leases rather than outright
ownership. In such instances, the mortgage and related security documents do
not provide the lender a security interest or lien on such equipment, but
rather only on the borrower's interest therein, to the extent such an interest
may be granted under the terms of the equipment lease.

          In the case of the mortgage loan identified as Atlantic Boulevard,
the borrower is permitted to obtain secondary financing which is unsecured or
secured by personal property. The holder is not required to be related to the
borrower and the financing is not subject to a standstill and subordination
agreement. The borrower can secure up to $120,000 for unsecured working
capital to be used in the operation of the mortgaged property and for the
purchase of personal property to be used in connection with the mortgaged
property. In such instance, the mortgage and related security documents do not
provide the lender a security interest or lien on such personal property, but
rather only on the borrower's interest therein, to the extent such an interest
may be granted under the terms of the property financing.

                            Representation #(xiii)

          In the case of four (4) mortgage loans identified as Mayfair Mall,
Canyon Woods Apartments, Princeton Square Apartments, and Ryan's Pointe
Apartments, there is a "B Note" secured by the same mortgage which are not
part of the mortgage pool; in the instance of Mayfair Mall such "B Note" is
pari passu with the "A Note" included in the mortgage pool and in the other
three instances the "B Note" is subordinate; as more fully described in the
Prospectus Supplement.

                             Representation #(xvi)

Bexley Mobile Home Park was inspected on 9/9/2002
Ramey's Mobile Home Park was inspected on 9/9/2001

                            Representation #(xxiii)

          In the case of the mortgage loan identified as Anderson Oaks Mobile
Home Community, the borrower is required to maintain six (6) months' business
interruption or rental loss insurance coverage.

                                     V-1
<PAGE>

                           Representation #(xxviii)

          In the case of each of the mortgage loans identified as PCCP
Commerce Center, 780 James P. Casey, Arlington & Bradley, Town & Country
Apartments, Mayfair Mall, Wanamaker Building, Circle Centre Mall, 540 Madison
Avenue, and Mira Mesa Marketplace, a controlling interest in the related
borrower may be directly or indirectly transferred or sold without the
lender's consent provided that certain stipulated conditions including
qualifications of, or specified parameters for, the proposed transferee are
satisfied or the permitted qualified transferee is identified in the mortgage
documents.

          In the case of five (5) cross-collateralized mortgage loans
identified as Red Lion Hotel Eureka, Red Lion Hotel Kennewick, Red Lion Hotel
Port Angeles, Red Lion Hotel Twin Falls and Red Lion Hotel Yakima, the
borrower (through several tiers of ownership) is ultimately owned primarily by
WestCoast Hospitality Corporation, a publicly traded company. Transfers of
ownership interests in WestCoast Hospitality Corporation are permitted and do
not violate the due on sale clause of the related mortgages so long as it
remains a publicly traded company.

                            Representation #(xxxi)

          General exception: In the case of the mortgage loan identified as
300 Alexander Park, the interest mortgaged is a subleasehold interest, rather
than a leasehold interest. For purposes of the representations in this (xxxi)
referring to a "leasehold", "ground lease", "lessor", "lessee" and the like or
"ground lessor", "lessee" or "ground lessee" are interpreted for purposes of
300 Alexander Park to refer to the sublease, sublessor and sublessee under the
300 Alexander Park sublease.

                                   (xxxi)(A)

          In the case of the mortgage loan identified as Circle Centre Mall,
there have been amendments after recordation of the ground leases, but prior
to origination (reflected in the lessor estoppels), and the estoppels
themselves could be viewed as amending the ground leases.

                                   (xxxi)(C)

          In the case of the mortgage loan identified as the Wanamaker
Building, the ground lease has an original term which extends 19 years and 11
months beyond the stated maturity of the related mortgage loan with no option
renewal terms.

                               (xxxi)(J) and (K)

          In the case of the mortgage loan identified as Circle Centre Mall,
under certain circumstances, insurance and condemnation proceeds must be first
applied to restoration (if restoration is to occur), then to past due rent
under the ground leases, before becoming available for potential application
to the mortgage loan. Also, in the case of condemnation, the ground lease does
not expressly provide for the mortgagee to hold and apply the condemnation
award. In the case of a total loss by casualty, the proceeds must under many
circumstances be used for restoration, rather than becoming available for
application to the mortgage loan.

                                     V-2
<PAGE>

                                   (xxxi)(K)

          In addition to any specific exceptions set forth above, with respect
to all mortgage loans secured by leasehold or subleasehold estates, the
related mortgage may allow insurance or condemnation proceeds to be applied to
restoration rather than to the mortgage loan balance.

                           Representation #(xxxvii)

          In the case of three (3) mortgage loans secured by the mortgaged
real property identified as Cliffview Crossing, Melanie Square, and Northgate
Terrace I Apartments, the same non-special purpose entity is the borrower
under each of the loans and the borrower may acquire additional real property,
either in fee or leasehold, or permit the acquisition by any subsidiary of the
borrower of any real property, either in fee or leasehold, so long as the real
property so acquired and the debt secured by or incurred in connection with
such acquisition does not result in a loan to value ratio of more than 70% and
a debt service coverage ratio of not less than 1.40 to 1.0.

          In the case of one (1) mortgage loan secured by the mortgaged real
property identified as Sarasota Gateway, the borrower is permitted to own
certain undeveloped real property in the vicinity of the mortgaged property
and real property that is ground leased and improved by the ground lessee and
may transfer such property but no development of such property is permitted
while the borrower owns such property and the borrower may not incur debt in
connection therewith.

          In the cases of the mortgage loans identified as Country View MHP
and Rivermont Apartments, the respective borrowers are a tenancy in common
structure and one or more of the tenants in common under the respective loans
are not single-purpose entities.

                           Representation #(xxxviii)

          In the case of the mortgage loan identified as Portway Plaza, in
connection with a permitted sale of the mortgaged property, the borrower is
permitted to provide the purchaser with purchase money financing secured by a
pledge of partnership interests in the purchaser, provided that a standstill
and subordination agreement wholly acceptable to the holder of the subject
mortgage loan is entered into; the holder of the subject mortgage loan
approves all the material terms of the seller financing, specified loan to
value and adjusted debt service coverage ratios are satisfied, and the
borrower is prohibited from assigning or pledging all or any portion of the
subordinate debt so long as the mortgage loan is outstanding.

          In the case of the mortgage loan secured by the mortgaged real
property identified as Expressway Mall, the borrower has the right, in
connection with a permitted sale of the mortgaged property, to provide the
purchaser with purchase money financing secured by a pledge of the direct or
indirect ownership interests in the purchaser, provided that a standstill,
subordination and mutual recognition agreement wholly acceptable to the holder
of the subject mortgage loan is entered into; the holder of the subject
mortgage loan approves all the material terms of the seller financing, and
specified loan to value and adjusted debt service coverage ratios are
satisfied.

          In the case of the underlying mortgage loan secured by the mortgaged
real property identified as the Wanamaker Office Property, there is a
$15,000,000 subordinate loan on the Wanamaker Office Property, evidenced by a
note and secured by a mortgage held by PIDC Local Development Corp.
Additionally, a $1,000,000 unsecured note is held by PIDC Local Development

                                     V-3
<PAGE>

Corp. The subordinate loan is subject to an intercreditor agreement pursuant
to which no enforcement of remedies by PIDC Local Development Corp. can occur
without the consent of lender, which consent may be withheld by lender in its
sole discretion.

                            Representation #(xlix)

          In the case of the mortgage loan identified as Pemstar Building, the
loan documents provide that the lender will disburse the proceeds of insurance
to restore the affected mortgaged property when required under the terms of
the single tenant lease on the mortgaged property.

                             Representation #(lv)

          In the case of the mortgage loan identified as Sprinkle Ridge
Apartments, there is no limited recourse exception for waste but there is a
limited recourse exception for "damage to the Security Property as a result of
the intentional misconduct or gross negligence of Borrower or any of its
principals, officers or general partners, or any agent or employee of any such
persons".

                             Representation #(lvi)

          Generally, in the case of all mortgage loans, the related loan
documents may not provide that any cash flow from the related mortgaged
property that is applied to amortize such mortgage loan following its
anticipated repayment date shall, to the extent such net cash flow is in
excess of the monthly payment payable therefrom be net of budgeted and
discretionary (servicer approved) capital expenditures.

                                     V-4
<PAGE>

                                                                    EXHIBIT A

                   REPRESENTATIONS AND WARRANTIES OF SELLER
                         REGARDING THE MORTGAGE LOANS

          (i) Immediately prior to the sale, transfer and assignment to the
Depositor, no Note or Mortgage was subject to any assignment (other than
assignments which show a complete chain of assignment to the Seller),
participation or pledge, and the Seller had good and marketable title to, and
was the sole owner of, the related Mortgage Loan;

          (ii) RESERVED.

          (iii) The Seller has full right and authority to sell, assign and
transfer such Mortgage Loan and the assignment to the Depositor constitutes a
legal, valid and binding assignment of such Mortgage Loan;

          (iv) The Seller is transferring such Mortgage Loan free and clear of
any and all liens, pledges, charges or security interests of any nature
encumbering such Mortgage Loan;

          (v) As of origination, to Seller's knowledge, based on the related
Borrower's representations and covenants in the related Mortgage Loan
Documents, the Borrower, lessee and/or operator was in possession of all
licenses, permits, and authorizations then required for use of the Mortgaged
Property which were valid and in full force and effect as of the origination
date;

          (vi) Each related Note, Mortgage, Assignment of Leases (if any) and
other agreement executed by or for the benefit of the related Borrower, any
guarantor or their successors or assigns in connection with such Mortgage Loan
is the legal, valid and binding obligation of the related Borrower,
enforceable in accordance with its terms, except as such enforcement may be
limited by bankruptcy, insolvency, reorganization, moratorium or other laws
affecting the enforcement of creditors' rights or by general principles of
equity (regardless of whether such enforceability is considered in a
proceeding in equity or at law); and there is no valid offset, defense,
counterclaim, or right of rescission available to the related Borrower with
respect to such Note, Mortgage, Assignment of Leases and other agreements,
except as the enforcement thereof may be limited by bankruptcy, insolvency,
reorganization, moratorium or other laws affecting the enforcement of
creditors' rights or by general principles of equity (regardless of whether
such enforceability is considered in a proceeding in equity or at law);

          (vii) Each related Assignment of Leases creates a valid first
priority collateral assignment of, or a valid first priority lien or security
interest in, certain rights under the related lease or leases, subject only to
a license granted to the related Borrower to exercise certain rights and to
perform certain obligations of the lessor under such lease or leases,
including the right to operate the related leased property, except as the
enforcement thereof may be limited by bankruptcy, insolvency, reorganization,
moratorium or other laws affecting the enforcement of creditors' rights or by
general principles of equity (regardless of whether such enforceability is
considered in a proceeding in equity or at law); no person other than the
related Borrower owns any interest in any payments due under such lease or
leases that is superior to or of equal priority with the lender's interest
therein;

          (viii) Each related assignment of Mortgage from the Seller to the
Depositor and related assignment of the Assignment of Leases, if any, or
assignment of any other agreement executed

                                     A-1
<PAGE>

by or for the benefit of the related Borrower, any guarantor or their
successors or assigns in connection with such Mortgage Loan from the Seller to
the Depositor constitutes the legal, valid and binding assignment from the
Seller to the Depositor, except as the enforcement thereof may be limited by
bankruptcy, insolvency, reorganization, liquidation, receivership, moratorium
or other laws relating to or affecting the enforcement of creditors' rights or
by general principles of equity (regardless of whether such enforceability is
considered in a proceeding in equity or at law);

          (ix) Since origination (A) except as set forth in the related
mortgage file, such Mortgage Loan has not been modified, altered, satisfied,
canceled, subordinated or rescinded and (B) each related Mortgaged Property
has not been released from the lien of the related Mortgage in any manner
which materially interferes with the security intended to be provided by such
Mortgage;

          (x) Each related Mortgage is a valid and enforceable first lien on
the related Mortgaged Property (subject to Permitted Encumbrances (as defined
below)), except as the enforcement thereof may be limited by bankruptcy,
insolvency, reorganization, moratorium or other laws affecting the enforcement
of creditors' rights or by general principles of equity (regardless of whether
such enforceability is considered in a proceeding in equity or at law); and
such Mortgaged Property is free and clear of any mechanics' and materialmen's
liens which are prior to or equal with the lien of the related Mortgage,
except those which are insured against by a lender's title insurance policy
(as described below). A UCC Financing Statement has been filed and/or recorded
(or sent for filing or recording) in all places necessary to perfect a valid
security interest in the personal property necessary to operate the Mortgaged
Property; any security agreement, chattel mortgage or equivalent document
related to and delivered in connection with the Mortgage Loan establishes and
creates a valid and enforceable lien on property described therein, except as
such enforcement may be limited by bankruptcy, insolvency, reorganization,
moratorium or other laws affecting the enforcement of creditors' rights or by
general principles of equity (regardless of whether such enforceability is
considered in a proceeding in equity or at law);

          (xi) The Seller has not taken any action that would cause the
representations and warranties made by the related Borrower in the related
Mortgage Loan Documents not to be true;

          (xii) The Seller has no knowledge that the material representations
and warranties made by the related Borrower in the related Mortgage Loan
Documents are not true in any material respect;

          (xiii) The lien of each related Mortgage is a first priority lien on
the fee and/or leasehold interest of the related Borrower in the principal
amount of such Mortgage Loan or allocated loan amount of the portions of the
Mortgaged Property covered thereby (as set forth in the related Mortgage)
after all advances of principal and is insured by an ALTA lender's title
insurance policy (or a binding commitment therefor), or its equivalent as
adopted in the applicable jurisdiction, insuring the Seller and its successors
and assigns as to such lien, subject only to (A) the lien of current real
property taxes, ground rents, water charges, sewer rents and assessments not
yet delinquent or accruing interest or penalties, (B) covenants, conditions
and restrictions, rights of way, easements and other matters of public record,
none of which, individually or in the aggregate, materially interferes with
the current use of the Mortgaged Property or the security intended to be
provided by such Mortgage or with the Borrower's ability to pay its
obligations when they become due or the value of the Mortgaged Property and
(C) the exceptions (general and specific) and exclusions set forth in such
policy, none of which, individually or in the aggregate, materially interferes
with the current general use of the Mortgaged Property or materially
interferes with the security intended to be provided by such Mortgage or with
the

                                     A-2
<PAGE>

related Borrower's ability to pay its obligations when they become due or the
value of the Mortgaged Property (items (A), (B) and (C) collectively,
"Permitted Encumbrances"); the premium for such policy was paid in full; such
policy (or if it is yet to be issued, the coverage to be afforded thereby) is
issued by a title insurance company licensed to issue policies in the state in
which the related Mortgaged Property is located (unless such state is Iowa)
and is assignable (with the related Mortgage Loan) to the Depositor and the
Trustee without the consent of or any notification to the insurer, and is in
full force and effect upon the consummation of the transactions contemplated
by this Agreement; no claims have been made under such policy and the Seller
has not undertaken any action or omitted to take any action, and has no
knowledge of any such act or omission, which would impair or diminish the
coverage of such policy;

          (xiv) The proceeds of such Mortgage Loan have been fully disbursed
and there is no requirement for future advances thereunder, and no future
advances have been made which are not reflected in the related mortgage file;

          (xv) Except as set forth in a property inspection report or
engineering report prepared in connection with the origination of the Mortgage
Loan, as of the later of the date of origination of such Mortgage Loan or the
most recent inspection of the related Mortgaged Property by the Seller, as
applicable, and to the knowledge of Seller as of the date hereof, each related
Mortgaged Property is free of any material damage that would affect materially
and adversely the use or value of such Mortgaged Property as security for the
Mortgage Loan (normal wear and tear excepted) or reserves have been
established to cover the costs to remediate such damage and, as of the closing
date for each Mortgage Loan and, to the Seller's knowledge, as of the date
hereof, there is no proceeding pending for the total or partial condemnation
of such Mortgaged Property that would have a material adverse effect on the
use or value of the Mortgaged Property;

          (xvi) The Seller has inspected or caused to be inspected each
related Mortgaged Property within the past twelve months, or the originator of
the Mortgage Loan inspected or caused to be inspected each related Mortgaged
Property within three months of origination of the Mortgage Loan;

          (xvii) No Mortgage Loan has a shared appreciation feature, any other
contingent interest feature or a negative amortization feature other than the
ARD Loans which may have negative amortization from and after the Anticipated
Repayment Date;

          (xviii) Each Mortgage Loan is a whole loan and contains no equity
participation by Seller;

          (xix) The Mortgage Rate (exclusive of any default interest, late
charges, or prepayment premiums) of such Mortgage Loan complied as of the date
of origination with, or was exempt from, applicable state or federal laws,
regulations and other requirements pertaining to usury. Except to the extent
any noncompliance did not materially and adversely affect the value of the
related Mortgaged Property, the security provided by the Mortgage or the
related Borrower's operations at the related Mortgaged Property, any and all
other requirements of any federal, state or local laws, including, without
limitation, truth-in-lending, real estate settlement procedures, equal credit
opportunity or disclosure laws, applicable to such Mortgage Loan have been
complied with as of the date of origination of such Mortgage Loan;

          (xx) Neither the Seller nor to the Seller's knowledge, any
originator, committed any fraudulent acts during the origination process of
any Mortgage Loan and the origination, servicing and collection of each
Mortgage Loan is in all respects legal, proper and prudent in accordance with

                                     A-3
<PAGE>

customary commercial mortgage lending standards, and no other person has been
granted or conveyed the right to service the Mortgage Loans or receive any
consideration in connection therewith, except as provided in the Pooling and
Servicing Agreement or any permitted subservicing agreements;

          (xxi) All taxes and governmental assessments that became due and
owing prior to the date hereof with respect to each related Mortgaged Property
and that are or may become a lien of priority equal to or higher than the lien
of the related Mortgage have been paid or an escrow of funds has been
established and such escrow (including all escrow payments required to be made
prior to the delinquency of such taxes and assessments) is sufficient to cover
the payment of such taxes and assessments;

          (xxii) All escrow deposits and payments required pursuant to each
Mortgage Loan are in the possession, or under the control, of the Seller or
its agent and there are no deficiencies (subject to any applicable grace or
cure periods) in connection therewith and all such escrows and deposits are
being conveyed by the Seller to the Depositor and identified as such with
appropriate detail;

          (xxiii) Each related Mortgaged Property is insured by a fire and
extended perils insurance policy, issued by an insurer meeting the
requirements of the Pooling and Servicing Agreement, in an amount not less
than the lesser of the principal amount of the related Mortgage Loan and the
replacement cost (with no deduction for physical depreciation) and not less
than the amount necessary to avoid the operation of any co-insurance
provisions with respect to the related Mortgaged Property; each related
Mortgaged Property is also covered by business interruption or rental loss
insurance which covers a period of not less than 12 months and comprehensive
general liability insurance in amounts generally required by prudent
commercial mortgage lenders for similar properties; all premiums on such
insurance policies required to be paid as of the date hereof have been paid;
such insurance policies require prior notice to the insured of termination or
cancellation, and no such notice has been received by the Seller; such
insurance names the lender under the Mortgage Loan and its successors and
assigns as a named or additional insured; each related Mortgage Loan obligates
the related Borrower to maintain all such insurance and, at such Borrower's
failure to do so, authorizes the lender to maintain such insurance at the
Borrower's cost and expense and to seek reimbursement therefor from such
Borrower;

          (xxiv) There is no monetary default, breach, violation or event of
acceleration existing under the related Mortgage Loan; and, to the Seller's
knowledge, there is no (A) non-monetary default, breach, violation or event of
acceleration existing under the related Mortgage Loan or (B) event (other than
payments due but not yet delinquent) which, with the passage of time or with
notice and the expiration of any grace or cure period, would and does
constitute a default, breach, violation or event of acceleration, which
default, breach, violation or event of acceleration, in the case of either (A)
or (B), materially and adversely affects the use or value of the Mortgage Loan
or 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 or warranty made by the Seller
in any of the other paragraphs of this Exhibit A; and provided, further that a
breach by the Borrower of any representation or warranty contained in any
Mortgage Loan Document shall not constitute a non-monetary default, breach,
violation or event of acceleration for purposes of this representation and
warranty if the subject matter of such representation or warranty contained in
any Mortgage Loan Document is also covered by any other representation or
warranty made by the Seller in this Exhibit A-1;

                                     A-4
<PAGE>

          (xxv) No Mortgage Loan has been more than 30 days delinquent in
making required payments since origination and as of the Cut-off Date no
Mortgage Loan is 30 or more days delinquent in making required payments;

          (xxvi) (A) Each related Mortgage contains provisions so as to render
the rights and remedies of the holder thereof adequate for the practical
realization against the Mortgaged Property of the principal benefits of the
security, including realization by judicial or, if applicable, non-judicial
foreclosure or, subject to applicable state law requirements, appointment of a
receiver, and (B) there is no exemption available to the Borrower which would
interfere with such right to foreclose, except, in the case of either (A) or
(B), as the enforcement of the Mortgage may be limited by bankruptcy,
insolvency, reorganization, moratorium, redemption or other laws affecting the
enforcement of creditors' rights or by general principles of equity
(regardless of whether such enforceability is considered in a proceeding in
equity or at law). To the Seller's knowledge, no Borrower is a debtor in a
state or federal bankruptcy or insolvency proceeding;

          (xxvii) At origination, each Borrower represented and warranted in
all material respects that to its knowledge, except as set forth in certain
environmental reports and, except as commonly used in the operation and
maintenance of properties of similar kind and nature to the Mortgaged
Property, in accordance with prudent management practices and applicable law,
and in a manner that does not result in any contamination of the Mortgaged
Property, it has not used, caused or permitted to exist and will not use,
cause or permit to exist on the related Mortgaged Property any hazardous
materials in any manner which violates federal, state or local laws,
ordinances, regulations, orders, directives or policies governing the use,
storage, treatment, transportation, manufacture, refinement, handling,
production or disposal of hazardous materials or other environmental laws; the
related Borrower or an affiliate thereof agreed to indemnify, defend and hold
the mortgagee and its successors and assigns harmless from and against losses,
liabilities, damages, injuries, penalties, fines, expenses, and claims of any
kind whatsoever (including attorneys' fees and costs) paid, incurred or
suffered by, or asserted against, any such party resulting from a breach of
the foregoing representations, warranties or covenants given by the Borrower
in connection with such Mortgage Loan. A Phase I environmental report and,
with respect to certain Mortgage Loans, a Phase II environmental report, was
conducted by a reputable environmental consulting firm in connection with such
Mortgage Loan, which report did not indicate any material non-compliance with
applicable environmental laws or material existence of hazardous materials or,
if any material non-compliance or material existence of hazardous materials
was indicated in any such report, then at least one of the following
statements is true: (A) funds reasonably estimated to be sufficient to cover
the cost to cure any material non-compliance with applicable environmental
laws or material existence of hazardous materials have been escrowed by the
related Borrower and held by the related mortgagee; (B) an operations or
maintenance plan has been required to be obtained by the related Borrower; (C)
the environmental condition identified in the related environmental report was
remediated or abated in all material respects prior to the date hereof; (D) a
no further action or closure letter was obtained from the applicable
governmental regulatory authority (or the environmental issue affecting the
related Mortgaged Property was otherwise listed by such governmental authority
as "closed"); (E) such conditions or circumstances identified in the Phase I
environmental report were investigated further and based upon such additional
investigation, an environmental consultant recommended no further
investigation or remediation; (F) a party with financial resources reasonably
estimated to be adequate to cure the condition or circumstance provided a
guaranty or indemnity to the related Borrower to cover the costs of any
required investigation, testing, monitoring or remediation; (G) the
expenditure of funds reasonably estimated to be necessary to effect such
remediation is not greater than two percent (2%) of the outstanding principal
balance of the related Mortgage Loan; or (H) a lender's environmental
insurance policy was obtained and is a part of the

                                     A-5
<PAGE>

related mortgage file. Notwithstanding the preceding sentence, with respect to
certain Mortgage Loans with an original principal balance of less than
$3,000,000, no environmental report may have been obtained, but (in such cases
where a Phase I environmental report was not obtained) a lender's secured
creditor impairment environmental insurance policy was obtained with respect
to each such Mortgage Loan and is a part of the related mortgage file. Each of
such environmental insurance policies is in full force and effect, the
premiums for such policies have been paid in full and the Trustee is named as
an insured under each of such policies. To the best of the Seller's knowledge,
in reliance on such environmental reports and except as set forth in such
environmental reports, each Mortgaged Property is in material compliance with
all applicable federal, state and local environmental laws, and to the best of
the Seller's knowledge, no notice of violation of such laws has been issued by
any governmental agency or authority, except, in all cases, as indicated in
such environmental reports or other documents previously provided to the
Rating Agencies; and the Seller has not taken any action which would cause the
Mortgaged Property to not be in compliance with all federal, state and local
environmental laws pertaining to environmental hazards;

          (xxviii) (1) Each Mortgage Loan contains provisions for the
acceleration of the payment of the unpaid principal balance of such Mortgage
Loan if, without the consent of the holder of the Mortgage (and the Mortgage
requires the mortgagor to pay all fees and expenses associated with obtaining
such consent), the related Mortgaged Property is directly or indirectly
transferred or sold, and (2) except with respect to transfers of certain
interests in the related Borrower to persons already holding interests in the
Borrower, their family members, affiliated companies and other estate planning
related transfers that satisfy certain criteria specified in the related
Mortgage (which criteria is consistent with the practices of prudent
commercial mortgage lenders), each Mortgage Loan with a Stated Principal
Balance of over $20,000,000 also contains the provisions for the acceleration
of the payment of the unpaid principal balance of such Mortgage Loan if,
without the consent of the holder of the Mortgage, (and the Mortgage requires
the mortgagor to pay all fees and expenses associated with obtaining such
consent) a majority interest in the related Borrower is directly or indirectly
transferred or sold;

          (xxix) All improvements included in the related appraisal are within
the boundaries of the related Mortgaged Property, except for encroachments
onto adjoining parcels for which the Seller has obtained title insurance
against losses arising therefrom or that do not materially and adversely
affect the use or value of such Mortgaged Property. No improvements on
adjoining parcels encroach onto the related Mortgaged Property except for
encroachments that do not materially and adversely affect the value of such
Mortgaged Property, the security provided by the Mortgage or the related
Borrower's operations at the Mortgaged Property;

          (xxx) The information pertaining to the Mortgage Loans which is set
forth in the mortgage loan schedule attached as an exhibit to this Agreement
is complete and accurate in all material respects as of the dates of the
information set forth therein (or, if not set forth therein, as of the Cut-Off
Date);

          (xxxi) With respect to any Mortgage Loan where all or a material
portion of the estate of the related Borrower therein is a leasehold estate,
and the related Mortgage does not also encumber the related lessor's fee
interest in such Mortgaged Property, based upon the terms of the ground lease
and any estoppel received from the ground lessor, the Seller represents and
warrants that:

          (A) The ground lease or a memorandum regarding such ground lease has
     been duly recorded. The ground lease permits the interest of the lessee
     to be encumbered by the

                                     A-6
<PAGE>

     related Mortgage and does not restrict the use of the related Mortgaged
     Property by such lessee, its successors or assigns in a manner that would
     adversely affect the security provided by the related Mortgage. To the
     Seller's best knowledge, there has been no material change in the terms
     of the ground lease since its recordation, except by any written
     instruments which are included in the related mortgage file;

          (B) The lessor under such ground lease has agreed in a writing
     included in the related mortgage file that the ground lease may not be
     amended, modified, canceled or terminated without the prior written
     consent of the lender and that any such action without such consent is
     not binding on the lender, its successors or assigns;

          (C) The ground lease has an original term (or an original term plus
     one or more optional renewal terms, which, under all circumstances, may
     be exercised, and will be enforceable, by the lender) that extends not
     less than 20 years beyond the stated maturity of the related Mortgage
     Loan;

          (D) Based on the title insurance policy (or binding commitment
     therefor) obtained by the Seller, the ground lease is not subject to any
     liens or encumbrances superior to, or of equal priority with, the
     Mortgage, subject to Permitted Encumbrances and liens that encumber the
     ground lessor's fee interest;

          (E) The ground lease is assignable to the lender under the ground
     lease and its assigns without the consent of the lessor thereunder;

          (F) As of the Closing Date, the ground lease is in full force and
     effect, and the Seller has no actual knowledge that any default beyond
     applicable notice and grace periods has occurred or that there is any
     existing condition which, but for the passage of time or giving of
     notice, would result in a default under the terms of the ground lease;

          (G) The ground lease or an ancillary agreement between the lessor
     and the lessee, which is part of the Mortgage File, requires the lessor
     to give notice of any default by the lessee to the lender;

          (H) A lender is permitted a reasonable opportunity (including, where
     necessary, sufficient time to gain possession of the interest of the
     lessee under the ground lease through legal proceedings, or to take other
     action so long as the lender is proceeding diligently) to cure any
     default under the ground lease which is curable after the receipt of
     notice of any default, before the lessor may terminate the ground lease.
     All rights of the lender under the ground lease and the related Mortgage
     (insofar as it relates to the ground lease) may be exercised by or on
     behalf of the lender;

          (I) The ground lease does not impose any restrictions on subletting
     that would be viewed as commercially unreasonable by an institutional
     investor. The lessor is not permitted to disturb the possession, interest
     or quiet enjoyment of any subtenant of the lessee in the relevant portion
     of the Mortgaged Property subject to the ground lease for any reason, or
     in any manner, which would adversely affect the security provided by the
     related Mortgage;

          (J) Under the terms of the ground lease and the related Mortgage,
     any related insurance proceeds or condemnation award (other than in
     respect of a total or substantially total loss or taking) will be applied
     either to the repair or restoration of all or part of the related

                                     A-7
<PAGE>

     Mortgaged Property, with the lender or a trustee appointed by it having
     the right to hold and disburse such proceeds as repair or restoration
     progresses, or to the payment of the outstanding principal balance of the
     Mortgage Loan, together with any accrued interest, except that in the
     case of condemnation awards, the ground lessor may be entitled to a
     portion of such award;

          (K) Under the terms of the ground lease and the related Mortgage,
     any related insurance proceeds, or condemnation award in respect of a
     total or substantially total loss or taking of the related Mortgaged
     Property will be applied first to the payment of the outstanding
     principal balance of the Mortgage Loan, together with any accrued
     interest (except as provided by applicable law or in cases where a
     different allocation would not be viewed as commercially unreasonable by
     any institutional investor, taking into account the relative duration of
     the ground lease and the related Mortgage and the ratio of the market
     value of the related Mortgaged Property to the outstanding principal
     balance of such Mortgage Loan). Until the principal balance and accrued
     interest are paid in full, neither the lessee nor the lessor under the
     ground lease will have an option to terminate or modify the ground lease
     without the prior written consent of the lender as a result of any
     casualty or partial condemnation, except to provide for an abatement of
     the rent; and

          (L) Provided that the lender cures any defaults which are
     susceptible to being cured, the lessor has agreed to enter into a new
     lease upon termination of the ground lease for any reason, including
     rejection of the ground lease in a bankruptcy proceeding;

          (xxxii) With respect to any Mortgage Loan where all or a material
portion of the estate of the related Borrower therein is a leasehold estate,
but the related Mortgage also encumbers the related lessor's fee interest in
such Mortgaged Property: (A) such lien on the related fee interest is
evidenced by the related Mortgage, (B) such Mortgage does not by its terms
provide that it will be subordinated to the lien of any other mortgage or
encumbrance upon such fee interest, (C) upon the occurrence of a default under
the terms of such Mortgage by the related Borrower, any right of the related
lessor to receive notice of, and to cure, such default granted to such lessor
under any agreement binding upon the Seller would not be considered
commercially unreasonable in any material respect by prudent commercial
mortgage lenders, (D) the related lessor has agreed in a writing included in
the related mortgage file that the related ground lease may not be amended or
modified without the prior written consent of the lender and that any such
action without such consent is not binding on the lender, its successors or
assigns, and (E) the related ground lease is in full force and effect, and the
Seller has no actual knowledge that any default beyond applicable notice and
grace periods has occurred or that there is any existing condition which, but
for the passage of time or giving of notice, would result in a default under
the terms of such ground lease;

          (xxxiii) With respect to Mortgage Loans that are
cross-collateralized or cross-defaulted, all other loans that are
cross-collateralized or cross-defaulted with such Mortgage Loans are being
transferred to the Depositor hereunder;

          (xxxiv) Neither Seller nor any affiliate thereof has any obligation
to make any capital contribution to any Borrower under a Mortgage Loan, other
than contributions made on or prior to the date hereof;

          (xxxv) (A) The Mortgage Loan is directly secured by a Mortgage on a
commercial property or multifamily residential property, and (B) the fair
market value of such real property, as evidenced by an appraisal satisfying
the requirements of FIRREA conducted within 12 months of the origination of
the Mortgage Loan, was at least equal to 80% of the principal amount of the
Mortgage

                                     A-8
<PAGE>

Loan (1) at origination (or if the Mortgage Loan has been modified in a manner
that constituted a deemed exchange under Section 1001 of the Code at a time
when the Mortgage Loan was not in default or default with respect thereto was
not reasonably foreseeable, the date of the last such modification) or (2) at
the date hereof; provided that the fair market value of the real property 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 (1) and (2) shall be made on an aggregated
basis);

          (xxxvi) There are no subordinate mortgages encumbering the related
Mortgaged Property, nor are there any preferred equity interests held by the
Seller or any mezzanine debt related to such Mortgaged Property, except as set
forth in the Prospectus Supplement, this Exhibit A or in the Exception Report
to this Agreement;

          (xxxvii) The Mortgage Loan Documents executed in connection with
each Mortgage Loan having an original principal balance in excess of
$4,000,000 require that the related Borrower be a single-purpose entity (for
this purpose, "single-purpose entity" shall mean an entity, other than an
individual, having organizational documents which provide substantially to the
effect that it is formed or organized solely for the purpose of owning and
operating one or more Mortgaged Properties, is prohibited from engaging in any
business unrelated to such property and the related Mortgage Loan, does not
have any assets other than those related to its interest in the related
Mortgaged Property or its financing, or any indebtedness other than as
permitted under the related Mortgage Loan);

          (xxxviii) Each Mortgage Loan prohibits the related Borrower from
mortgaging or otherwise encumbering the Mortgaged Property without the prior
written consent of the mortgagee or the satisfaction of debt service coverage
or similar criteria specified therein and, except in connection with trade
debt and equipment financings in the ordinary course of Borrower's business,
from carrying any additional indebtedness, except, in each case, liens
contested in accordance with the terms of the Mortgage Loans or, with respect
to each Mortgage Loan having an original principal balance of less than
$4,000,000, any unsecured debt;

          (xxxix) Each Borrower covenants in the Mortgage Loan Documents that
it shall remain in material compliance with all material licenses, permits and
other legal requirements necessary and required to conduct its business;

          (xl) Each Mortgaged Property (A) is located on or adjacent to a
dedicated road, or has access to an irrevocable easement permitting ingress
and egress, (B) is served by public utilities and services generally available
in the surrounding community or otherwise appropriate for the use in which the
Mortgaged Property is currently being utilized, and (C) constitutes one or
more separate tax parcels or is covered by an endorsement with respect to the
matters described in (A), (B) or (C) under the related title insurance policy
(or the binding commitment therefor);

          (xli) Based solely on a flood zone certification or a survey of the
related Mortgaged Property, if any portion of the improvements on the
Mortgaged Property is located in an area identified by the Federal Emergency
Management Agency or the Secretary of Housing and Urban Development as having
special flood hazards categorized as Zone "A" or Zone "V" and flood insurance
is available, the terms of the Mortgage Loan require the Borrower to maintain
flood insurance, or at such Borrower's failure to do so, authorizes the Lender
to maintain such insurance at the cost and expense of the Borrower;

                                     A-9
<PAGE>

          (xlii) To the knowledge of the Seller, with respect to each Mortgage
which is a deed of trust, a trustee, duly qualified under applicable law to
serve as such, currently so serves and is named in the deed of trust or has
been substituted in accordance with applicable law or may be substituted in
accordance with applicable law by the related mortgagee, and except in
connection with a trustee's sale after a default by the related Borrower, no
fees are payable to such trustee;

          (xliii) RESERVED.

          (xliv) Except as disclosed in the Exception Report to this
Agreement, to the knowledge of the Seller as of the date hereof, there was no
pending action, suit or proceeding, arbitration or governmental investigation
against any Borrower or Mortgaged Property, an adverse outcome of which would
materially and adversely affect such Borrower's ability to perform under the
related Mortgage Loan;

          (xlv) No advance of funds has been made by the Seller to the related
Borrower (other than mezzanine debt and the acquisition of preferred equity
interests by the preferred equity interest holder, as disclosed in the
Prospectus Supplement), and no funds have, to the Seller's knowledge, been
received from any person other than, or on behalf of, the related Borrower,
for, or on account of, payments due on the Mortgage Loan;

          (xlvi) To the extent required under applicable law, as of the
Cut-off Date or as of the date that such entity held the Note, each holder of
the Note was authorized to transact and do business in the jurisdiction in
which each related Mortgaged Property is located, or the failure to be so
authorized did not materially and adversely affect the enforceability of such
Mortgage Loan;

          (xlvii) All collateral for the Mortgage Loans is being transferred
as part of the Mortgage Loans;

          (xlviii) Except as disclosed in the Exception Report to this
Agreement or the Prospectus Supplement with respect to the Crossed Mortgage
Loans and Mortgage Loans secured by multiple Mortgaged Properties, no Mortgage
Loan requires the lender to release any portion of the Mortgaged Property from
the lien of the related Mortgage except upon (A) payment in full or defeasance
of the related Mortgage Loan, (B) the satisfaction of certain legal and
underwriting requirements that would be customary for prudent commercial
mortgage lenders, (C) releases of unimproved out-parcels or (D) releases of
portions of the Mortgaged Property which will not have a material adverse
effect on the use or value of the collateral for the related Mortgage Loan;

          (xlix) Except as provided in paragraphs (xxxi)(J) and (K) above, any
insurance proceeds in respect of a casualty loss or taking will be applied
either to (A) the repair or restoration of all or part of the related
Mortgaged Property, with, in the case of all casualty losses or takings in
excess of a specified amount or percentage that a prudent commercial lender
would deem satisfactory and acceptable, the lender (or a trustee appointed by
it) having the right to hold and disburse such proceeds as the repair or
restoration progresses (except in any case 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 (B) to the payment of
the outstanding principal balance of such Mortgage Loan together with any
accrued interest thereon;

          (l) Each Form UCC-1 financing statement, if any, filed with respect
to personal property constituting a part of the related Mortgaged Property and
each Form UCC-2 or UCC-3 assignment, if

                                     A-10
<PAGE>

any, of such financing statement to the Seller was, and each Form UCC-3
assignment, if any, of such financing statement in blank which the Trustee or
its designee is authorized to complete (but for the insertion of the name of
the assignee and any related filing information which is not yet available to
the Seller) is, in suitable form for filing in the filing office in which such
financing statement was filed;

          (li) To the Seller's knowledge, (A) each commercial lease covering
more than 10% (20% in the case of any Mortgage Loan having an original
principal balance less than $2,500,000) of the net leaseable area of the
related Mortgaged Property is in full force and effect and (B) there exists no
default under any such commercial lease either by the lessee thereunder or by
the related Borrower that could give rise to the termination of such lease;

          (lii) Based upon an opinion of counsel and/or other due diligence
considered reasonable by prudent commercial mortgage lenders, 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. With respect to any Mortgage Loan with a Stated Principal Balance as
of the Closing Date of over $10,000,000, if the related Mortgaged Property
does not so comply, to the extent the Seller is aware of such non-compliance,
it has required the related Borrower to obtain law and ordinance insurance
coverage in amounts customarily required by prudent commercial mortgage
lenders;

          (liii) Each Mortgage Loan constitutes a "qualified mortgage" within
the meaning of Section 860G(a)(3) of the Code (but without regard to the rule
in Treasury Regulation Section 1.860G-2(f)(2) that treats a defective
obligation as a qualified mortgage or any substantially similar successor
provision) and all Prepayment Premiums and Yield Maintenance Charges
constitute "customary prepayment penalties" within the meaning of Treasury
Regulation Section 1.860G-1(b)(2);

          (liv) With respect to any Mortgage Loan that pursuant to the
Mortgage Loan Documents can be defeased, (A) the Mortgage Loan cannot be
defeased within two years after the Closing Date, (B) the Borrower can pledge
only "government securities" (within the meaning of Section 2(a)(16) of the
Investment Company Act of 1940, as amended) in an amount sufficient to make
all scheduled payments under the Mortgage Loan when due, (C) the Borrower is
required to provide independent certified public accountant's certification
that the collateral is sufficient to make such payments, (D) the loan may be
required to be assumed by a single-purpose entity designated by the holder of
the Mortgage Loan, (E) the Borrower is required to provide an opinion of
counsel that the Trustee has a perfected security interest in such collateral
prior to any other claim or interest, (F) the Borrower is required to pay all
Rating Agency fees associated with defeasance (if rating confirmation is a
specific condition precedent thereto) and all other reasonable expenses
associated with defeasance, including, but not limited to, accountant's fees
and opinions of counsel, (G) with respect to any Significant Trust Mortgage
Loan (as defined in the Pooling and Servicing Agreement), the Borrower is
required to provide an opinion of counsel that such defeasance will not cause
any REMIC created under the Pooling and Servicing Agreement to fail to qualify
as a REMIC for federal or applicable state tax purposes and (H) with respect
to any Significant Trust Mortgage Loan (as defined in the Pooling and
Servicing Agreement), the Borrower must obtain Rating Agency confirmation from
each Rating Agency that the defeasance would not result in such Rating
Agency's withdrawal, downgrade or qualification of the then current rating of
any class of Certificate rated by such Rating Agency;

          (lv) The Mortgage Loan Documents for each Mortgage Loan provide that
the related Borrower thereunder shall be liable to the Seller for any losses
incurred by the Seller due to (A)

                                     A-11
<PAGE>

the misapplication or misappropriation of rents, insurance proceeds or
condemnation awards, (B) any willful act of material waste, (C) any breach of
the environmental covenants contained in the related Mortgage Loan Documents,
and (D) fraud by the related Borrower; provided that, with respect to clause
(C) of this sentence, an indemnification against losses related to such
violations or environmental insurance shall satisfy such requirement;

          (lvi) If such Mortgage Loan is an ARD Loan, it commenced amortizing
on its initial scheduled Due Date and provides that: (A) its Mortgage Rate
will increase by no more than two percentage points in connection with the
passage of its Anticipated Repayment Date and so long as the Mortgage Loan is
an asset of the Trust Fund; (B) its Anticipated Repayment Date is not less
than seven years following the origination of such Mortgage Loan; (C) no later
than the related Anticipated Repayment Date, if it has not previously done so,
the related Borrower is required to enter into a "lockbox agreement" whereby
all revenue from the related Mortgaged Property shall be deposited directly
into a designated account controlled by the Master Servicer; and (D) any cash
flow from the related Mortgaged Property that is applied to amortize such
Mortgage Loan following its Anticipated Repayment Date shall, to the extent
such net cash flow is in excess of the Monthly Payment payable therefrom, be
net of budgeted and discretionary (servicer approved) capital expenditures;

          (lvii) Except as disclosed in the Prospectus Supplement, no Mortgage
Loan, and no group of Mortgage Loans made to the same Borrower and to
Borrowers that are affiliates, accounted for more than 5.0% of the aggregate
of the Stated Principal Balances of all of the Mortgage Loans and all the
mortgage loans sold to the Depositor by KeyBank National Association
("KeyBank") pursuant to that certain Mortgage Loan Purchase Agreement dated as
of September 11, 2003 between the Depositor and KeyBank; and

          (lviii) The Seller has delivered to the Trustee or a custodian
appointed thereby, with respect to each Mortgage Loan, in accordance with
Section 3 of this Agreement, a complete Mortgage File.

                                     A-12
<PAGE>

                                   EXHIBIT B

                            AFFIDAVIT OF LOST NOTE

STATE OF NEW YORK             )
                              )  ss.:
COUNTY OF NEW YORK            )

          _________________________________, being duly sworn, deposes and
says:

          1. that he is an authorized signatory of Column Financial, Inc.
("Column");

          2. that Column is the owner and holder of a mortgage loan in the
original principal amount of $__________________ secured by a mortgage (the
"Mortgage") on the premises known as ___________________________ located in
__________________;

          3. (a) that Column , after having conducted a diligent investigation
of its records and files, has been unable to locate the following original
note and believes that said original note has been lost, misfiled, misplaced
or destroyed due to a clerical error:

          a note in the original sum of $_____________ made by ____________ ,
          to Column Financial, Inc., under date of ______________ (the "Note");

          4. that the Note is now owned and held by Column;

          5. that the Note has not been paid off, satisfied, assigned,
transferred, encumbered, endorsed, pledged, hypothecated, or otherwise
disposed of and that the original Note has been either lost, misfiled,
misplaced or destroyed;

          6. that no other person, firm, corporation or other entity has any
right, title, interest or claim in the Note except Column; and

<PAGE>

          7. upon assignment of the Note by Column to Credit Suisse First
Boston Mortgage Securities Corp. (the "Depositor") and subsequent assignment
by the Depositor to the trustee for the benefit of the holders of the Credit
Suisse First Boston Mortgage Securities Corp. Commercial Mortgage Pass-Through
Certificates, Series 2003-C4 (the "Trustee") (which assignment may, at the
discretion of the Depositor, be made directly by Column to the Trustee) Column
covenants and agrees (a) promptly to deliver to the Trustee the original Note
if it is subsequently found, and (b) to indemnify and hold harmless the
Trustee and its successors and assigns from and against any and all costs,
expenses and monetary losses arising as a result of Column's failure to
deliver said original Note to the Trustee.

                                       COLUMN FINANCIAL, INC.

                                       By:
                                            ---------------------------------
                                       Name:
                                       Title:

Sworn to before me
this ________ day of September, 2003

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