Document:

Series 2005-1 Indenture Supplement dated as of July 26, 2005

 Exhibit 4.3 
 EXECUTION COPY 
 SPIRIT MASTER FUNDING, LLC 

Issuer 
 and

 CITIBANK, N.A. 
 Indenture Trustee 
  

 
 SERIES 2005-1
SUPPLEMENT 
 Dated as of July 26, 2005 
 to 
 MASTER INDENTURE 

Dated as of July 26, 2005 
  

 
 SPIRIT MASTER
FUNDING, LLC, NET-LEASE MORTGAGE NOTES, SERIES 2005-1 

  

 TABLE OF CONTENTS 

 

			
	ARTICLE I
	DEFINITIONS
		
	Section 1.01.	  	 Definitions

	ARTICLE II
	
	CREATION OF THE SERIES 2005-1 NOTES; PAYMENTS ON THE 2005-1 NOTES
		
	Section 2.01.	  	 Designation

		
	Section 2.02.	  	 Payments on the Series 2005-1 Notes

		
	Section 2.03.	  	 Redemption of the Series 2005-1 Notes

		
	Section 2.04.	  	 The Insurance Policy Proceeds Account

		
	Section 2.05.	  	 Limitations Regarding Repurchases, Substitutions and Acquisitions

	
	ARTICLE III
	
	REPRESENTATIONS AND WARRANTIES
		
	Section 3.01.	  	 Representations and Warranties

		
	Section 3.02.	  	 No Default

		
	Section 3.03.	  	 Conditions Precedent Satisfied

	
	ARTICLE IV
	
	MISCELLANEOUS PROVISIONS
		
	Section 4.01.	  	 Ratification of Indenture

		
	Section 4.02.	  	 Actions by Controlling Party

		
	Section 4.03.	  	 Counterparts

		
	Section 4.04.	  	 Governing Law

		
	Section 4.05.	  	 Beneficiaries

		
	Section 4.06.	  	 Limited Recourse

		
	Section 4.07.	  	 Notice to the Insurer

		
	Exhibits	  	
		
	EXHIBIT A	  	 Representations and Warranties

		
	Schedules	  	
		
	SCHEDULE I	  	 Amortization Schedule

  
 i 

 SERIES 2005-1 SUPPLEMENT, dated as of July 26, 2005 (the “Series 2005-1
Supplement”), between the Issuer and the Indenture Trustee. 
 Pursuant to the Indenture, the Issuer may from time
to time direct the Indenture Trustee to authenticate one or more new Series of Notes. The Principal Terms of any new Series are to be set forth in a Series Supplement to the Indenture. 

Pursuant to this Series 2005-1 Supplement, the Issuer and the Indenture Trustee hereby create a new Series of Notes (the
“Series 2005-1 Notes”) and specify the Principal Terms thereof. 
 ARTICLE I 

DEFINITIONS 

Section 1.01. Definitions. 
 Capitalized terms used herein and not otherwise defined shall have the meaning set forth in the Indenture. 
 “Accrual Period”: With respect to the Series 2005-1 Notes and any Payment Date, the calendar month immediately preceding such Payment Date. 

“Class A-1 Note”: Any of the Series 2005-1 Notes with a “Class A-1” designation on the face
thereof, issued pursuant to this Series 2005-1 Supplement and the Indenture, executed by the Issuer and authenticated by the Indenture Trustee or the Authenticating Agent, if any, substantially in the form of Exhibit A-1, A-2 or A-3 attached to the
Indenture. 
 “Class A-2 Note”: Any of the Notes with a “Class A-2” designation on the
face thereof, issued pursuant to this Series 2005-1 Supplement and the Indenture, executed by the Issuer and authenticated by the Indenture Trustee or the Authenticating Agent, if any, substantially in the form of Exhibit A-1, A-2 or A-3 attached to
the Indenture. 
 “Controlling Party”: With respect to the Series 2005-1 Notes, (i) the Insurer,
for so long as no Insurer Default has occurred and is continuing and (ii) if an Insurer Default has occurred and is continuing, the Series 2005-1 Noteholders representing in the aggregate more than 50% of the aggregate Class Principal Balance
of the Series 2005-1 Notes. 
 “Defaulted Asset”: As defined in the Property Management Agreement.

 “Delinquent Asset”: As defined in the Property Management Agreement. 

“Early Amortization Event”: With respect to the Series 2005-1 Notes, (a) as defined in the Indenture
and (b) the Insurer has determined, in its reasonable 

  
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discretion, that as of the date that is six months prior to the applicable Legal Final Payment Date, the Issuer will not have the ability to pay off the applicable Notes on such Legal Final
Payment Date. 
 “Indenture”: With respect to the Series 2005-1 Notes, the Master Indenture, dated
July 26, 2005, between the Issuer and the Indenture Trustee, as supplemented by the Series 2005-1 Supplement. 

“Indenture Trustee Fee”: With respect to the Series 2005-1 Notes, an amount equal to $12,500 per annum.

 “Initial Purchaser”: Each of Citigroup Global Markets Inc., Banc of America Securities LLC and
Credit Suisse First Boston LLC. 
 “Insurance Agreement”: With respect to the Series 2005-1 Notes,
the Insurance and Indemnity Agreement, dated July 26, 2005, among the Insurer, the Issuer, Spirit Finance and the Indenture Trustee. 
 “Insurance Policy”: The certificate guaranty insurance policy issued to the Indenture Trustee for the benefit of the Series 2005-1 Noteholders pursuant to the provisions of the
Insurance Agreement. 
 “Insurance Policy Proceeds Account”: The segregated account established in the
name of the Indenture Trustee pursuant to Section 2.15(b) of the Indenture and Section 2.04 hereof. 

“Insurance Premium Fee Letter”: The Premium Fee Letter, dated the Series Closing Date, among the Issuer,
Spirit Finance and the Insurer. 
 “Insured Obligations”: As defined in the Insurance Policy.

 “Insurer”: With respect to the Series 2005-1 Notes, Ambac Assurance Corporation, a Wisconsin
domiciled stock insurance corporation. 
 “Insurer Default”: With respect to the Insurance Policy
and Insurance Agreement, the existence and continuance of any of the following: (a) a failure of the Insurer to make a payment required under the Insurance Policy in accordance with the terms thereof; or (b) (i) the Insurer
(A) files any petition or commences any case or proceeding under any provision or chapter of the Bankruptcy Code of 1978, as amended (the “Bankruptcy Code”), or any other similar federal or state law in the United States
of America relating to insolvency, bankruptcy, rehabilitation, liquidation or reorganization (an “Insolvency Law”), (B) makes a general assignment for the benefit of its creditors, or (C) has an order for relief
entered against it under any Insolvency Law, the Bankruptcy Code or any other similar federal or state law in the United States of America relating to insolvency, bankruptcy, rehabilitation, liquidation or reorganization which is final and
non-appealable, or (ii) a court of competent jurisdiction, the New York or Wisconsin Department of Insurance or any other competent regulatory authority enters a final and 

  
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non-appealable order, judgment or decree (X) appointing a custodian, trustee, agent or receiver for the Insurer or for all or any material portion of its property, or (Y) authorizing
the taking of possession by a custodian, trustee, agent or receiver of the Insurer (or the taking of possession of all or any material portion of the property of the Insurer). 

“Insurer Premium”: With respect to the Series 2005-1 Notes and any Payment Date, the premium payable in
arrears to the Insurer pursuant to the Insurance Premium Fee Letter. 
 “Lease Transfer Mortgaged
Property”: As defined in the Property Management Agreement. 
 “Make Whole
Payment”: With respect to the Series 2005-1 Notes and for any Payment Date on which a Voluntary Prepayment is made and an Early Amortization Event has not occurred and is not continuing, the payment due to each Class of Notes in an
amount (as calculated two Business Days prior to such Payment Date) equal to: (A) using the Reinvestment Yield, the sum of the present values of the scheduled payments of principal and interest remaining until such Class of Notes is
scheduled to be repaid in full (calculated prior to the application of the Voluntary Prepayment), minus (B)(i) using the Reinvestment Yield, the sum of the present values of the scheduled payments of principal and interest remaining until such Class
of Notes is scheduled to be repaid in full (calculated after application of the Voluntary Repayment) plus (ii) the amount of the Voluntary Prepayment. 
 “Maximum Property Concentration”: With respect to any date of determination, (i) with respect to the Property Concentration for any Business Sector, (a) in the case
of Specialty Retailers as of any Determination Date, a percentage equal to 23.0% as of such Determination Date, (b) in the case of Education Facilities as of any Determination Date, a percentage equal to 10.0% as of such Determination Date, and
(c) in the case of any other Business Sector (other than the Restaurant Business Sector, so long as no related Restaurant Concept exceeds 7.5% of the Allocated Collateral Amount of all Mortgaged Properties (including those Mortgaged Properties
securing Mortgage Loans)) as of any Determination Date, a percentage no greater than 7.5% as of such Determination Date (other than Movie Theatres, which initially may not exceed the applicable Property Concentration as of the Initial Closing Date
and, upon the Movie Theatre Property Concentration falling below 7.5%, may not exceed 7.5%); (ii) with respect to the Property Concentration for any Tenant (including affiliates thereof), (x) in the case of the largest concentration of
Tenants (including affiliates thereof) as of such Determination Date, a percentage equal to 7.0% as of such Determination Date and (y) in the case of the five (5) largest concentrations of Tenants (including affiliates thereof) as of such
Determination Date, an aggregate percentage equal to 30% as of such Determination Date, (iii) with respect to the Property Concentration for any state, a percentage equal to 15% plus the Property Concentration of such state as of the Initial
Closing Date; (iv) with respect to the Property Concentration for Ground Leases, a percentage equal to 2.0%; and (v) with respect to the Property Concentration for Leases pursuant to which Tenants pay Percentage Rent only, a percent equal
to 1.0%. 

  
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 “Property Concentrations”: Concentrations, stated as a
percentage, of (i) Business Sectors, (ii) Tenants (including affiliates of any Tenant), (iii) states, (iv) Ground Leases, and (v) Leases pursuant to which Tenants pay Percentage Rent only, and are calculated by dividing the
aggregate of the Allocated Collateral Amount of the Mortgage Loans and the Mortgaged Properties included in the Collateral Pool, in each case, with respect to all (a) Leases of any single Business Sector, (b) Leases to any single Tenant
(including affiliates of such Tenant), (c) Mortgaged Properties within any state, (d) Mortgaged Properties which are subject to Ground Leases and (e) Mortgaged Properties which are subject to Leases pursuant to which Tenants pay
Percentage Rent only, in each case, by the aggregate Allocated Collateral Amount. 
 “Reinvestment
Yield”: With respect to any Class of Series 2005-1 Notes, the yield on United States Treasury Securities having the closest maturity (month and year) to the weighted average life of such Class (prior to the application of any
Voluntary Prepayment with respect thereto; if more than one such quoted United States Treasury Security has the same maturity date, then the yield of the United States Treasury Security quoted closest to par), plus 0.50%. 

“Scheduled Series Balance”: With respect to any Payment Date and the Series 2005-1 Notes, the amount set
forth for such date on the Amortization Schedule annexed hereto as Schedule I. 
 “Series 2005-1
Noteholder”: With respect to any Series 2005-1 Note, the applicable Noteholder, as such term is further defined in the Indenture. 
 “Series Closing Date”: July 26, 2005. 

“Spirit SPE”: Any special purpose, bankruptcy remote subsidiary (direct or indirect) of Spirit Finance
(other than any Originator). 
 “Voluntary Prepayment”: Any voluntary redemption of any Class of
Notes, in whole or in part, in accordance with the procedures set forth in Section 7.01 of the Indenture, or any Unscheduled Principal Payment (as described in clause (a) of the definition thereof) actually paid on the related
Payment Date, other than any portion thereof consisting of Property Insurance Proceeds, Condemnation Proceeds and amounts received in respect of a Specially Serviced Asset or a repurchase due to a Collateral Defect. 

ARTICLE II 

CREATION OF THE SERIES 2005-1 NOTES; PAYMENTS ON THE 2005-1 NOTES 

Section 2.01. Designation. 
 (a) There is hereby created a Series of Notes to be issued by the Issuer pursuant to the Indenture and this Series 2005-1 Supplement to be known as “Spirit Master Funding, LLC, Net-Lease
Mortgage Notes, Series 2005-1.” The Aggregate Note Principal Balance of such Notes shall be U.S. $441,300,000, and shall be divided among 

  
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two Classes having the respective Class designations, initial Class Principal Balances, Note Rates and Ratings as follows: 

 

													
	 Class
Designation
	  	Initial Class
Principal Balance	 	  	Note Rate	 	 	Ratings (S&P/Moody’s)	 
	 Class A-1
	  	$	183,000,000	  	  	 	5.05	% 	 	 	AAA/Aaa	  
	 Class A-2
	  	$	258,300,000	  	  	 	5.37	% 	 	 	AAA/Aaa	  

 The Note Interest with respect to each Class of the Series 2005-1 Notes will be calculated on a 30/360 basis. 

The Series 2005-1 Notes shall not have preference or priority over the Notes of any other Series except to the extent set forth in the
Indenture. The Series 2005-1 Notes shall not be subordinate to any other Series. 
 (b) The initial Payment Date with
respect to the Series 2005-1 Notes shall be the Payment Date occurring on August 22, 2005. The Legal Final Payment Date with respect to the Series 2005-1 Notes shall be July 20, 2020. The Rated Final Payment Date with respect to
the Series 2005-1 Notes shall be July 20, 2023. 
 (c) The initial Collection Period with respect to the Series
2005-1 Notes shall be the period commencing on July 26, 2005 to and including August 8, 2005. 
 (d) The Series
2005-1 Notes offered and sold shall be issued in the form of Book-Entry Notes. 
 Section 2.02. Payments on the
Series 2005-1 Notes. On each Payment Date, the Indenture Trustee will apply and will pay the Series Available Amount with respect to the Series 2005-1 Notes for such Payment Date for the following purposes and in the following order of
priority: 
 (1) to the Insurer, the earned and unpaid Insurer Premium due as of such Payment Date;

 (2) on a pro rata basis, (I) to the Class A-1 Noteholders, the Note Interest with
respect to the Class A-1 Notes, plus unpaid Note Interest with respect to the Class A-1 Notes from any prior Payment Date, together with interest on any such unpaid Note Interest at the Note Rate applicable to the Class A-1 Notes, and
(II) to the Class A-2 Noteholders, the Note Interest with respect to the Class A-2 Notes, plus unpaid Note Interest with respect to the Class A-2 Notes from any prior Payment Date, together with interest on any such unpaid Note
Interest at the Note Rate applicable to the Class A-2 Notes; 
 (3) (I) so long as no Early
Amortization Event or Event of Default has occurred and is continuing, (x) first, until the Class Principal Balance of the Class A-1 Notes has been reduced to zero, to the Class A-1 Noteholders, an amount up to the sum of the
Scheduled Principal 

  
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Payments and all Unscheduled Principal Payments allocable to Series 2005-1 for such Payment Date and (y) second, until the Class Principal Balance of the Class A-2 Notes has been
reduced to zero, to the Class A-2 Noteholders, an amount up to the sum of the Scheduled Principal Payments and all Unscheduled Principal Payments allocable to Series 2005-1 for such Payment Date (less the amount paid pursuant to clause
(3)(I)(x) immediately above) or (II) if an Early Amortization Event or Event of Default has occurred and is continuing, on a pro rata basis based on unpaid principal amounts, (x) to the Class A-1 Noteholders, in respect of
unpaid principal of the Class A-1 Notes and (y) to the Class A-2 Noteholders, in respect of unpaid principal of the Class A-2 Notes, up to an aggregate amount equal to the applicable Series Available Amount remaining for such
Payment Date; 
 (4) to the Insurer, an amount equal to the aggregate amount of unreimbursed payments made
under the Insurance Policy and all other amounts owed to the Insurer under the Insurance Policy and the Insurance Agreement and interest on such amounts at the rate agreed upon between such Insurer and the Issuer; and 

(5) to the Class A-1 Noteholders and the Class A-2 Noteholders, pro rata, based on amount due, the
Make Whole Payments, if any, due on such Payment Date, together with any unpaid Make Whole Payments from any prior Payment Date. 
 Section 2.03. Redemption of the Series 2005-1 Notes. On any Payment Date prior to the Legal Final Payment Date, the Issuer may redeem the Series 2005-1 Notes in whole or in part, in
accordance with the procedures set forth in the Indenture and at a price equal to the outstanding principal amounts thereof plus accrued and unpaid interest thereon, the applicable Make Whole Payment and any outstanding expenses. 

Section 2.04. The Insurance Policy Proceeds Account. The Indenture Trustee shall, prior to the Series Closing
Date, establish the Insurance Policy Proceeds Account at Citibank, N.A., in its name, as Indenture Trustee, bearing a designation clearly indicating that such account and all funds deposited therein are held for the exclusive benefit of the Series
2005-1 Noteholders, over which the Indenture Trustee shall have exclusive control and the sole right of withdrawal, and in which neither the Issuer nor any other Person shall have any legal or beneficial interest. Amounts held in the Insurance
Policy Proceeds Account shall be held uninvested. 
 Section 2.05. Limitations Regarding Repurchases,
Substitutions and Acquisitions. Pursuant to Section 3.18 of the Property Management Agreement, and except with respect to repurchases or substitutions by the applicable Originator or Support Provider due to a Collateral Defect, the
Issuer may only sell or exchange Mortgaged Properties and Mortgage Loans to or with any of its Affiliates subject to the following conditions: (a) the Issuer may sell or exchange Mortgaged Properties and Mortgage Loans only to or with a Spirit
SPE that is not the Originator of the Mortgaged 

  
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Property or Mortgage Loan or, in the case of Mortgage Loans or Mortgaged Properties that are Delinquent Assets or Defaulted Assets, to or with the Property Manager, the Special Servicer or a
Spirit SPE that is not the Originator, (b) the aggregate Collateral Value of all Mortgaged Properties and Mortgage Loans sold to or exchanged with affiliates of the Issuer that are not related to Delinquent Assets or Defaulted Assets may not
exceed 10% of the Aggregate Collateral Value as of the Series Closing Date, and (c) the aggregate Collateral Value of all Mortgaged Properties and Mortgage Loans sold to affiliates of the Issuer that are related to Delinquent Assets or
Defaulted Assets may not exceed 10% of the Aggregate Collateral Value as of the Series Closing Date; provided, that subject to receipt of an opinion of counsel regarding certain matters of bankruptcy law, such 10% limitation may be waived by the
Insurer. 
 In addition, pursuant to Section 3.18 of the Property Management Agreement, the aggregate Collateral Value of
Qualified Substitute Mortgage Loans and Qualified Substitute Mortgaged Properties acquired by the Issuer from any Affiliate of the Issuer (including with proceeds from sales to third parties) may not exceed: (i) in any 12-month period, 10%
of the Aggregate Collateral Value as of the Series Closing Date and (ii) over the term of the Notes, 25% of the Aggregate Collateral Value as of the Series Closing Date; provided, however, that the foregoing limitations will not include
Qualified Substitute Mortgage Loans or Qualified Substitute Mortgaged Properties from parties unaffiliated with Spirit Finance, any mortgaged properties substituted pursuant to any Third Party Purchase Options or any Lease Transfer Mortgaged
Properties. 
 ARTICLE III 
 REPRESENTATIONS AND WARRANTIES 

Section 3.01. Representations and Warranties. 

(a) The Issuer and the Indenture Trustee hereby restate as of the Series Closing Date, or as of such other date as is specifically
referenced in the body of such representation and warranty, all of the representations and warranties set forth in Section 5.06 and Section 9.04, as applicable, of the Indenture. 

(b) Each of the parties hereto make the following representations: 

(i) it has full corporate power and authority to execute, deliver and perform under this Series 2005-1 Supplement,
and to consummate the transactions set forth herein. The consummation of the transactions contemplated by this Series 2005-1 Supplement is in the ordinary course of its business and will not conflict with, or result in a breach of, any of the
terms, conditions or provisions of its organizational documents, or any material agreement or instrument to which it is now a party or by which it is bound, or result in the violation of any law, rule, regulation, order, judgment or decree to which
it or its property is subject, except any such violation that would not result in a material adverse effect on the business or financial condition of such party or the 

  
 8 

 
enforceability of any of the Transaction Documents. The execution, delivery and performance by it of this Series 2005-1 Supplement, and the consummation by it of the transactions
contemplated hereby, have been duly authorized by all necessary corporate action. This Series 2005-1 Supplement has been duly executed and delivered by it and constitutes the valid and legally binding obligation of it enforceable against it in
accordance with its terms; 
 (ii) No consent, approval, order or authorization of, or declaration, filing
or registration with, any governmental entity is required to be obtained or made by it in connection with the execution, delivery or performance by it of this Agreement, or the consummation by it of the transactions contemplated hereby, except such
as have already been obtained. 
 Section 3.02. No Default. The Issuer hereby represents and warrants to
the Series 2005-1 Noteholders and the Indenture Trustee that, as of the Series Closing Date, no Event of Default has occurred and is continuing. 
 Section 3.03. Conditions Precedent Satisfied. The Issuer hereby represents and warrants to the Series 2005-1 Noteholders and the Indenture Trustee that, as of the Series Closing
Date, each of the conditions precedent set forth in the Indenture have been satisfied. 
 Section 3.04. Collateral
Representations and Warranties. The Issuer hereby represents and warrants to the Indenture Trustee on behalf of the Noteholders and the Insurers that the representations and warranties set forth on Exhibit A hereto are true and correct as
of the Series Closing Date (or such other date as is set forth in any such representation or warranty) with respect to the Mortgage Loans, Mortgaged Properties and Leases Granted by the Issuer as of the Series Closing Date, except as otherwise set
forth in Exhibit A hereto. 
 ARTICLE IV 
 MISCELLANEOUS PROVISIONS 
 Section 4.01. Ratification of
Indenture. As supplemented by this Series 2005-1 Supplement, the Indenture is in all respects ratified and confirmed and the Indenture, as so supplemented by this Series 2005-1 Supplement, shall be read, taken and construed as one and the
same instrument. 
 Section 4.02. Actions by Controlling Party. So long as no Insurer Default has
occurred and is continuing, the Insurer, and at any time that an Insurer Default has occurred and is continuing, Series 2005-1 Noteholders representing more than 50% of the Aggregate Class Principal Balance of the Series 2005-1 Notes, will be
entitled to exercise the rights and remedies of the Series 2005-1 Noteholders with respect to actions taken by the Controlling Party pursuant to the Indenture. 
 Section 4.03. Counterparts. This Series 2005-1 Supplement may be executed in two or more counterparts, and by different parties on separate counterparts,

  
 9 

 
each of which shall be an original, but all of which shall constitute one and the same instrument. 
 Section 4.04. Governing Law. THIS SERIES 2005-1 SUPPLEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, WITHOUT REFERENCE TO ITS CONFLICT OF LAW
PROVISIONS, AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS. 
 Section 4.05. Beneficiaries. This Series 2005-1 Series Supplement and the Indenture shall inure to the benefit of and be binding upon the parties hereto, the Series 2005-1
Noteholders, and their respective successors and permitted assigns. No other Person shall have any right or obligation hereunder. 
 Section 4.06. Limited Recourse. Notwithstanding anything to the contrary herein or in the Indenture, the Series 2005-1 Notes are nonrecourse obligations solely of the Issuer and
shall be payable only from the Collateral Pool and from drawings on the Insurance Policy. Upon the exhaustion of the Collateral included in the Collateral Pool, any liabilities of the Issuer hereunder shall be extinguished. Each Series
2005-1 Noteholder shall be deemed to have agreed, by acceptance of its Note, not to file or join in filing any petition in bankruptcy or commence any similar proceeding in respect of the Issuer for a period of two years and 31 days following payment
in full of all of the Notes issued or co-issued by the Issuer under the Indenture. 

Section 4.07. Notice to the Insurer and the Rating Agencies. Any communication provided for or
permitted hereunder or pursuant to the Indenture shall be in writing and, unless otherwise expressly provided herein, shall be deemed to have been duly given if delivered by courier or mailed by first class mail, postage prepaid, or if transmitted
by facsimile and confirmed in a writing delivered or mailed as aforesaid, to: (i) in the case of the Insurer, Ambac Assurance Corporation, One State Street Plaza, New York, New York 10004, Attention: Structured Finance—Mortgage-Backed
Securities Group, facsimile number: (212) 363-1459, with a copy to, Cadwalader, Wickersham & Taft LLP, One World Financial Center, New York, New York 10281, Attention: Pat Quinn, facsimile number (212) 909-5870;
(ii) in the case of S&P, Standard & Poor’s Rating Services, a division of The McGraw-Hill Companies, Inc., 55 Water Street, 41st Floor, New York, New York, 10004, Attention: Asset-Backed Surveillance Department, facsimile number:
212-438-2435; and (iii) in the case of Moody’s, Moody’s Investor Services, Inc., 99 Church Street, New York, New York 10007, Attention: Asset-Backed Monitoring, facsimile number: 212-553-1350; or, as to each such Person, such
other address or facsimile number as may hereafter be furnished by such Person to the parties hereto in writing. 

  
 10 

 IN WITNESS WHEREOF, the Issuer and the Indenture Trustee have caused this Series 2005-1
Supplement to be duly executed and delivered by their respective officers thereunto duly authorized and their respective seals, duly attested, to be hereunto affixed, all as of the day and year first above written. 

 

			
	SPIRIT MASTER FUNDING, LLC
	as Issuer
		
	By:	 	 /s/ Michael T.Bennett

	
	Name: Michael T. Bennett
	Title: Senior Vice President
	
	CITIBANK, N.A.
not in its individual capacity but solely
as Indenture Trustee
		
	By:	 	 /s/ John Hannon

	
	Name: John Hannon
	Title: Assistant Vice President

  
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 EXHIBIT A 
 REPRESENTATIONS AND WARRANTIES 
 SPIRIT MASTER FUNDING,
LLC, a Delaware limited liability company (“Issuer”), on this 26th day of July, 2005, hereby delivers this Issuer Certification pursuant to that certain Indenture Agreement of even date herewith (“Indenture Agreement”) and that certain Property Management and
Servicing Agreement of even date herewith (“Property Management Agreement”). Capitalized terms used but not defined herein shall have the meanings set forth in the Indenture Agreement, and if not set forth in the Indenture Agreement,
in the Property Management Agreement. 
 1. Mortgage Loans. With respect to each Mortgage Loan (as identified
in Schedule I-A), Seller hereby represents and warrants, as of the date herein below specified or, if no such date is specified, as of the Closing Date, except as set forth on Schedule I hereto, that: 

(a) Immediately prior to the transfer and assignment of the Mortgage Loan to Seller, Purchaser had good and insurable fee title to,
and was the sole owner and holder of, the Mortgage Loan, free and clear of any and all liens, encumbrances and other interests on, in or to the Mortgage Loan. Such transfer and assignment from Seller to Purchaser of the Mortgage Loan by
collateral assignment and by individual allonges of the Mortgage Notes and Assignments of the Mortgages in blank validly assigns all of Seller’s right, title and ownership of the Mortgage Loan to Purchaser (and, with respect to the Mortgage, to
the Collateral Agent) free and clear of any pledge, lien, encumbrance or security interest. 
 (b) Seller has full right
and authority to sell, contribute, assign and transfer the Mortgage Loan to Purchaser. The entire agreement with Seller (whether originated by Seller or a different originator) is contained in the Loan Documents and there are no warranties,
agreements or options regarding such Mortgage Loan or the related Mortgaged Property not set forth therein. Other than the Loan Documents, there are no agreements between any predecessor in interest in the Mortgage Loan and the Borrower.

 (c) The information pertaining to the Mortgage Loan set forth in the Mortgage Loan Schedule attached to the Purchase
and Sale Agreements (the “Mortgage Loan Schedule”) was true and correct in all material respects as of the related Transfer Date. The Mortgage Loan was originated or acquired in accordance with, and fully complies with, the
Underwriting Guidelines in all material respects. The related Loan File contains all of the documents and instruments required to be contained therein. 
 (d) The following (“Permitted Exceptions”): (i) liens for real estate taxes and special assessments not yet due and payable or due but not yet delinquent, (ii) covenants,
conditions and restrictions, rights-of-way, easements and other matters of public record, such exceptions being of a type or nature that are acceptable to mortgage lending institutions generally, (iii) those purchase options described under
“Description 

  
 12 

 
of the Mortgage Loans, the Mortgaged Properties and the Leases —Terms Governing the Leases—Third Party Purchase Option” and “—Third Party Options to Purchase” herein
and (iv) other matters to which like properties are commonly subject, which matters referred to in clauses (i), (ii), (iii), and (iv), (v) or (vi) do not, individually or in the aggregate, materially interfere with the value of the
Mortgaged Property, or do not materially interfere or restrict the current use or operation of the Mortgaged Property relating to the Mortgage Loan or do not materially interfere with the security intended to be provided by the Mortgage, the current
use or operation of the Mortgaged Property or the current ability of the Mortgaged Property to generate net operating income sufficient to service the Mortgage Loan. Financing Statements have been filed and/or recorded (or, if not filed and/or
recorded, have been submitted in proper form for filing and recording), in all public places necessary to perfect a valid first priority security interest in all items of personal property defined as part of the Mortgaged Property and in all cases,
subject to a purchase money security interest and to the extent perfection may be effected pursuant to applicable law solely by recording or filing Financing Statements. 
 (e) With respect to each Mortgage Loan, the related Mortgage constitutes a valid, legally binding and enforceable first priority lien upon the related Mortgaged Property securing such Mortgage Loan
and the improvements located thereon and forming a part thereof, prior to all other liens and encumbrances, except for Permitted Exceptions. The lien of the Mortgage is insured by an ALTA lender’s title insurance policy (“Title
Policy”), or its equivalent as adopted in the applicable jurisdiction, issued by a nationally recognized title insurance company, insuring the originator of the Mortgage Loan, its successors and assigns, as to the first priority lien of the
Mortgage in the original principal amount of the Mortgage Loan after all advances of principal, subject only to Permitted Exceptions (or, if a title insurance policy has not yet been issued in respect of the Mortgage Loan, a policy meeting the
foregoing description is evidenced by a commitment for title insurance “marked up” (or by “pro-forma” otherwise agreed to in a closing instruction letter countersigned by the title company) as of the closing date of the Mortgage
Loan). Each Title Policy (or, if it has yet to be issued, the coverage to be provided thereby) is in full force and effect, all premiums thereon have been paid and no material claims have been made thereunder and no claims have been paid
thereunder. Seller has not, by act or omission, done anything that would materially impair the coverage under such Title Policy. Immediately following the transfer and assignment of the Mortgage Loan to Purchaser, such Title Policy (or, if
it has yet to be issued, the coverage to be provided thereby) will inure to the benefit of Purchaser without the consent of or notice to the insurer. 
 (f) Seller has not waived any material default, breach, violation or event of acceleration existing under the Mortgage or Mortgage Note. 

(g) The Borrower has not waived any material default, breach, violation or event of acceleration by the Tenant existing under the
Lease. 
 (h) There is no valid offset, defense or counterclaim to the payment or performance obligations of the Mortgage
Loan. 

  
 13 

 (i) The Mortgaged Property securing any Mortgage Loan is free and clear of any damage
that would materially and adversely affect its value as security for the Mortgage Loan. No proceeding for the condemnation of all or any material portion of the Mortgaged Property has been commenced. 

(j) The Mortgage Loan complied with all applicable usury laws in effect at its date of origination. 

(k) The proceeds of the Mortgage Loan have been fully disbursed and there is no requirement for future advances
thereunder. All costs, fees and expenses incurred in making, closing and recording the Mortgage Loan, including, but not limited to, mortgage recording taxes and recording and filing fees relating to the origination of such Mortgage Loan, have
been paid. Any and all requirements as to completion of any on-site or off-site improvement by the Borrower and as to disbursements of any escrow funds therefor that were to have been complied with have been complied with. 

(l) The Borrower under the related Mortgage Note, Mortgage and all other Loan Documents had the power, authority and legal capacity
to enter into, execute and deliver the same, and, as applicable, such Mortgage Note, Mortgage and Loan Documents have been duly authorized, properly executed and delivered by the parties thereto, and each is the legal, valid and binding obligation
of the maker thereof (subject to any non recourse provisions contained in any of the foregoing agreements and any applicable state anti deficiency legislation), enforceable in accordance with its terms, except as such enforcement may be limited by
bankruptcy, insolvency, reorganization, receivership, moratorium or other laws relating to or affecting the rights of creditors generally and by general principles of equity (regardless of whether such enforcement is considered in a proceeding in
equity or at law). 
 (m) All improvements upon the Mortgaged Property securing any Mortgage Loan are insured under
insurance policies (as described in a Schedule to the Purchase and Sale Agreements the “Insurance Schedule”). The Mortgage Loan documents require the Borrower to maintain, or cause the Tenant to maintain, and the Lease requires the
Tenant to maintain insurance coverage described on the Insurance Schedule and all insurance required under applicable law including, without limitation, insurance against loss by hazards with extended coverage in an amount (subject to a customary
deductible) at least equal to the full replacement cost of the improvements located on such Mortgaged Property, including without limitation, flood insurance if any portion of the improvements located upon the Mortgaged Property was, at the time of
the origination of the Mortgage Loan, in a flood zone area as identified in the Federal Register by the Federal Emergency Management Agency as a 100 year flood zone or special hazard area, and flood insurance was available under the then current
guidelines of the Federal Insurance Administration is in effect with a generally acceptable insurance carrier. The Loan Documents require the Borrower to maintain, or to cause the Tenant to maintain on the Mortgaged Property securing any
Mortgage Loan a fire and extended perils insurance policy, in an amount not less than the replacement cost and the amount necessary to avoid the operation of any co-insurance provisions with respect to the Mortgaged Property. All such insurance
policies contain a standard “additional insured” 

  
 14 

 
clause (or similar clause) naming the Borrower (as landlord under the related Lease), its successors and assigns (including, without limitation, subsequent owners of the Mortgaged Property), as
additional insured, and may not be reduced, terminated or canceled without thirty (30) (and, in some cases ten (10)) days’ prior written notice to the additional insured. In addition, the Mortgage requires the Borrower to
(i) cause Seller, as the Mortgagee, to be named as an additional insured mortgagee, and (ii) maintain (or to require the Tenant to maintain) in respect of the Mortgaged Property workers’ compensation insurance (if applicable),
commercial general, liability insurance in amounts generally required by Seller, and at least 6 months rental or business interruption insurance. The related Loan Documents obligate the Borrower to maintain such insurance and, at such
Borrower’s failure to do so, authorizes the mortgagee to maintain such insurance at the Borrower’s cost and expense and to seek reimbursement therefor from such Borrower. Each such insurance policy, as applicable, is required to name
the holder of the Mortgage as an additional insured or contain a mortgagee endorsement naming the holder of the Mortgage as loss payee and requires prior notice to the holder of the Mortgage of termination or cancellation, and no such notice has
been received, including any notice of nonpayment of premiums, that has not been cured. There have been no acts or omissions that would impair the coverage of any such insurance policy or the benefits of the mortgage endorsement. All
insurance contemplated in this section is maintained with insurance companies with a General Policy Rating of “A” or better by S&P or A:VI or better by Best’s Insurance Guide and are licensed to do business in the state wherein
the Borrower or the Mortgaged Property subject to the policy, as applicable, is located. 
 (n) As of the Series Closing
Date, with the exception of the 40 Mortgaged Properties securing 40 Mortgage Loans, representing 57.7% of the Mortgage Loans (by Allocated Collateral Amount) for each of which there is an environmental insurance policy in place), the Mortgaged
Property securing any Mortgage Loan was subject to one or more environmental site assessments or reports (or an update of a previously conducted assessment or report) prior to the origination of such Mortgage Loan, and Seller has no knowledge of any
material and adverse environmental conditions or circumstance affecting such Mortgaged Property that was not disclosed in the related assessment or report(s). There are no material and adverse environmental conditions or circumstances affecting
the Mortgaged Property securing any such Mortgage Loan other than, with respect to any adverse environmental condition described in such report, those conditions for which remediation has been completed and, thereafter, to the extent that such
report or remediation program so recommended, (i) a program of annual integrity testing and/or monitoring was recommended and implemented in connection with the Mortgaged Property securing any such Mortgage Loan or an adjacent or neighboring
property; (ii) an operations and maintenance plan or periodic monitoring of such mortgaged Property or nearby properties was recommended and implemented or (iii) a follow-up plan was otherwise required to be taken under CERCLA (as defined
below) or under regulations established thereunder from time to time by the Environmental Protection agency and such plan has been implemented in the case of (i), (ii) and (iii) above, the Borrower determined in accordance with the
Underwriting Guidelines that adequate funding was available for such program or plan, as applicable. Seller has not taken any action with respect to the Mortgage Loan or the Mortgaged Property securing

  
 15 

 
such Mortgage Loan that could subject Purchaser, or its successors and assigns in respect of the Mortgage Loan, to any liability under the Comprehensive Environmental Response, Compensation and
Liability Act of 1980, as amended (“CERCLA”) or any other applicable federal, state or local environmental law, and Seller has not received any actual notice of a material violation of CERCLA or any applicable federal, state or local
environmental law with respect to the Mortgaged Property securing such Mortgage Loan that was not disclosed in the related report. The Mortgage or other Mortgage Loan Documents require the Borrower (and the Leases require the Tenant) to comply
with all applicable federal, state and local environmental laws and regulations. 
 (o) The Mortgage Loan is not
cross-collateralized with any mortgage loan that is not included in the Collateral Pool. 
 (p) The terms of the Mortgage,
Mortgage Note, and other Loan Documents have not been impaired, waived, altered, modified, satisfied, canceled or subordinated in any material respect, except by written instruments that are part of the Loan File, recorded or filed in the applicable
public office if necessary to maintain the priority of the lien of the related Mortgage, delivered to Purchaser or its designee. 
 (q) There are no delinquent taxes, ground rents, assessments for improvements or other similar outstanding lienable charges affecting the Mortgaged Property which are or may become a lien of priority
equal to or higher than the lien of the Mortgage. For purposes of this representation and warranty, real property taxes and assessments shall not be considered unpaid until the date on which interest and/or penalties would be payable thereon.

 (r) Except for Mortgage Loans secured by Ground Leases, the interest of the Borrower in the Mortgaged Property consists
of a fee simple estate in real property. 
 (s) Each Mortgage Loan is a whole loan and not a participation interest.

 (t) The assignment of the Mortgage referred to in the Loan File constitutes the legal, valid and binding assignment of
such Mortgage from the relevant assignor to Purchaser or to the Collateral Agent. The Assignment of Leases and Rents set forth in the Mortgage or separate from the Mortgage and related to and delivered in connection with each Mortgage Loan
establishes and creates a valid, subsisting and, subject only to Permitted Exceptions, enforceable first priority lien and first priority security interest in the Borrower’s interest in all leases, subleases, licenses or other agreements
pursuant to which any person is entitled to occupy, use or possess all or any portion of the real property subject to the Mortgage, and each assignor thereunder has the full right to assign the same. The related assignment of Mortgage or any
assignment of leases and rents not included in a Mortgage, executed and delivered in favor of Purchaser is in recordable form and constitutes a legal, valid and binding assignment, sufficient to convey to the assignee named therein all of the
assignor’s right, title and interest in, to and under such assignment of leases and rents. 

  
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 (u) All escrow deposits relating to the Mortgage Loan that are required to be
deposited with the related Seller or its agent have been so deposited. 
 (v) As of the date of origination of such
Mortgage Loan and, as of the Transfer Date, as the case may be, the Mortgaged Property securing such Mortgage Loan was and is free and clear of any mechanics’ and materialmen’s liens or liens in the nature thereof which create a lien prior
to that created by the Mortgage, except those which are insured against by the Title Policy referred to in (e) above. 

(w) As of the date of the origination of the Mortgage Loan, no improvement that was included for the purpose of determining the
appraised value of the related Mortgaged Property securing such Mortgage Loan at the time of origination of the Mortgage Loan lay outside the boundaries and building restriction lines of such property in any way that would materially and adversely
affect the value of such Mortgaged Property or the ability to operate the Mortgaged Property under the related Lease (unless affirmatively covered by the title insurance referred to in paragraph (e) above), and no improvements on adjoining
properties encroached upon such Mortgaged Property to any material extent. 
 (x) (i) There exists no material
default, breach or event of acceleration under the Mortgage Loan or any of the Loan Documents or the Lease, (ii) there exists no event (other than payments due but not yet delinquent) that, with the passage of time or with notice and the
expiration of any grace or cure period, would constitute such a material default, breach or event of acceleration (iii) no payment on any Mortgage Loan is, or has previously been during any time owned by Seller or Purchaser, 30 or more days
delinquent and (iv) no payment on any Lease is or has previously been 30 or more days delinquent; provided, however, that this representation and warranty does not cover any default, breach or event of acceleration that specifically pertains to
any matter otherwise covered or addressed by any other representation and warranty made by Seller with respect to the Mortgage Loans. 
 (y) In connection with the origination of each Mortgage Loan, Seller inspected or caused to be inspected the Mortgaged Property securing the Mortgage Loan by inspection, appraisal or otherwise as
required in Seller’s Underwriting Guidelines then in effect. 
 (z) The Mortgage Loan contains no equity
participation by or shared appreciation rights in the lender or beneficiary under the Mortgage, and does not provide for any contingent or additional interest in the form of participation in the cash flow of the Mortgaged Property securing the
Mortgage Loan, or for negative amortization. 
 (aa) No holder of the Mortgage Loan has advanced funds or induced,
solicited or knowingly received any advance of funds from a party other than the owner of the Mortgaged Property securing the Mortgage Loan, directly or indirectly, for the payment of any amount required by the Mortgage Loan (other than amounts paid
by the Tenant as specifically provided under the related Lease). 

  
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 (bb) To Seller’s knowledge, based on due diligence customarily performed in the
origination or acquisition of comparable mortgage loans by Seller, as of the date of origination or acquisition of the Mortgage Loans, the related Borrowers, were in compliance with all applicable laws relating to the ownership and operation of the
Mortgaged Properties securing the Mortgage Loan as they were then operated and were in possession of all material licenses, permits and authorizations required by applicable laws for the ownership and operation of such Mortgaged Properties as they
were operated. With respect to Mortgaged Properties that are operated as franchised properties, and except with respect to Mortgage Loans for which the related Tenant is the franchisor, the Tenant of such Mortgaged Property has entered into a
legal, valid, and binding franchise agreement and such lessee operator has represented in the applicable lease documents that, as of the date of origination or acquisition of the Mortgage Loan, there were no defaults under the franchise agreement by
such Tenant. 
 (cc) The origination, servicing and collection practices Sellers used with respect to the Mortgage Loan
since Seller’s origination or acquisition thereof, have complied with applicable law in all material respects and are consistent and in accordance with the terms of the related Loan Documents and in accordance with the applicable servicing
standard and customary industry standards. 
 (dd) The Mortgage or Mortgage Note, together with applicable state law,
contains customary and enforceable provisions (subject to the exceptions set forth in paragraph (l) above) such as to render the rights and remedies of the holders thereof adequate for the practical realization against the Mortgaged Property
securing the Mortgage Loan of the principal benefits of the security intended to be provided thereby, including the right of foreclosure under the laws of the state in which the Mortgaged Property securing the Mortgage Loan is located governing
foreclosures of mortgages and deeds of trust under power of sale. 
 (ee) The Mortgage provides that insurance proceeds
and condemnation proceeds will be applied for one of the following purposes: either to restore or repair the Mortgaged Property securing the Mortgage Loan, to repay the principal of the Mortgage Loan or as otherwise directed by the holder of such
Mortgage. 
 (ff) There are no actions, suits, legal, arbitration or administrative proceedings or investigations by or
before any court or governmental authority or, to the best of Seller’s knowledge, pending against or affecting the Borrower, the Mortgaged Property securing the Mortgage Loan that, if determined adversely to such Borrower, Mortgaged Property
securing the Mortgage Loan, would materially and adversely affect the value of the Mortgaged Property securing the Mortgage Loan or the ability of the Borrower to pay principal, interest or any other amounts due under the Mortgage Loan or the Lease,
as applicable. 
 (gg) If the Mortgage is a deed of trust, a trustee, duly qualified under applicable law to serve as
such, is properly designated and serving under such Mortgage. Except in connection with a trustee’s sale or as otherwise required by applicable law, after default by the Borrower, no fees or expenses are payable to such trustee.

  
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 (hh) Except in cases where either (i) a release of a portion of the Mortgaged
Property securing the Mortgage Loan was contemplated at origination of the Mortgage Loan and such portion was not considered material for purposes of underwriting the Mortgage Loan, or (ii) release is conditioned upon the satisfaction of
certain underwriting and legal requirements and the payment of a release price, the Mortgage Note or Mortgage do not require the holder thereof to release all or any portion of the Mortgaged Property securing the Mortgage Loan from the lien of the
Mortgage except upon payment in full of all amounts due under the Mortgage Loan. 
 (ii) The Mortgage does not permit the
Mortgaged Property securing the Mortgage Loan to be encumbered by any lien junior to or of equal priority with the lien of the Mortgage (excluding any lien relating to another Mortgage Loan that is cross collateralized with the Mortgage Loan)
without the prior written consent of the holder thereof. 
 (jj) The Borrower is not a debtor in any state or federal
bankruptcy or insolvency proceeding. 
 (kk) As of the date of origination or acquisition of each Mortgage by Seller, each
Borrower which is not a natural person was duly organized and validly existing under the laws of the state of its jurisdiction. 
 (ll) The Mortgage Loan contains provisions for the acceleration of the payment of the unpaid principal balance of the Mortgage Loan if, without complying with the requirements of the Mortgage Loan,
the Mortgaged Property securing the Mortgage Loan, or any controlling interest in the Borrower, is directly or indirectly transferred or sold. 
 (mm) The Mortgage Loan Documents for each of the Mortgage Loans provide that the Borrower is to provide periodic financial and operating reports including, without limitation, annual profit and loss
statements, statements of cash flow and other related information that Purchaser reasonably requests from time to time. 

(nn) To Seller’s actual knowledge, based upon zoning letters, zoning report, the title insurance policy insuring the lien of
the Mortgage, historical use and/or other due diligence customarily performed by Seller in connection with the origination of the Mortgage Loan, the improvements located on or forming part of such Mortgaged Property securing the Mortgage Loan comply
in all material respects with applicable zoning laws and ordinances (except to the extent that they may constitute legal non-conforming uses). 
 (oo) Any Mortgaged Property is located within one of the 50 United States or the District of Columbia. 
 (pp) With respect to a Mortgage Loan secured by Mortgaged Property located in “seismic zones” 3 or 4, the Borrower or Purchaser (or an affiliate of Purchaser) has obtained, and is required
under the Mortgage Loan Documents to maintain earthquake insurance with respect to the improvements on and forming a part of such 

  
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Mortgaged Property or is required to cause the Tenant to maintain (and the Tenant has obtained) earthquake insurance if such Mortgaged Property is located in any such area. 

(qq) Seller does not have knowledge of any circumstance or condition with respect to such Mortgage Loan, the Mortgaged Property
securing the Mortgage Loan, the Lease or the Borrower’s or the Tenant’s credit standing that could reasonably be expected to cause Purchaser to regard such Mortgage Loan as unacceptable security, cause such Mortgage Loan or Lease to become
delinquent or have a material adverse effect on the value or marketability of such Mortgage Loan. 
 (rr) The Mortgaged
Property securing the Mortgage Loan has adequate rights of access to public rights-of-way and is served by utilities, including, without limitation, adequate water, sewer, electricity, gas, telephone, sanitary sewer, and storm drain facilities. All
public utilities necessary to the continued use and enjoyment of the Mortgaged Property securing the Mortgage Loan as presently used and enjoyed are located in such public right-of-way abutting such Mortgaged Property or are the subject of access
easements for the benefit of the Mortgaged Property, and all such utilities are connected so as to serve such Mortgaged Property without passing over other property or are the subject of access easements for the benefit of such Mortgaged Property.
All roads necessary for the full use of the Mortgaged Property securing the Mortgage Loan for its current purpose have been completed and dedicated to public use and accepted by all governmental authorities or are the subject of access easements for
the benefit of such Mortgaged Property. 
 (ss) With respect to any Mortgage Loan where all or a material portion of the
Mortgaged Property securing such Mortgage Loan 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 letter
or other writing received from the Ground Lessor included in the related Loan File and, if applicable, the related Mortgage: 
 (1) The Ground Lease or a memorandum regarding such Ground Lease has been duly recorded. The Ground Lessor has permitted the interest of the Ground Lessee to be encumbered by the related
Mortgage. To the best of Seller’s 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 Loan File. 

(2) 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. 

(3) 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 is enforceable, by the lender) that extends not less than 20 years beyond the stated maturity of the related Mortgage Loan. 

  
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 (4) Based on the title insurance policy referenced in (e) above,
the Ground Leasehold interest 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. 

(5) The Ground Lease is assignable to the lender and its assigns without the consent of the lessor thereunder.

 (6) The Ground Lease is in full force and effect and no default has occurred under the Ground Lease and
there is no existing condition which, but for the passage of time or the giving of notice, would result in a material default under the terms of the Ground Lease. 

(7) The Ground Lessor is required to give notice of any default by the related lessee to the lender. 

(8) The 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 Ground Lessor thereunder may terminate the Ground Lease. 
 (9) Either (i) the
Ground Lease does not impose restrictions on subletting or (ii) the Ground Lessor has consented to the existing Ground Lease with respect to the related Mortgaged Property securing the related Mortgage Loan. The Ground 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 material manner, which would adversely affect the
security provided by the related Mortgage. 
 (10) Any related insurance proceeds or condemnation award
(other than in respect of a total or substantially total loss or taking) is required to be applied either to the repair or restoration of all or part of the related 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. 
 (11) Any related insurance proceeds, or condemnation award
in respect of a total or substantially total loss or taking of the related Mortgaged Property is required to be applied first to the payment of the outstanding principal balance of the Mortgage Loan, together with any

  
 21 

 
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 Ground Lessor under the Ground Lease has 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. 
 (12) Provided that the lender cures any defaults which are
susceptible to being cured, the Ground 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. 

(tt) With respect to Mortgage Loans originated after the Series Closing Date and with respect to any Qualified Substitute Mortgage
Loans purchased or substituted by Purchaser from a third party, each Mortgage Loan and the related Mortgaged Property securing the Mortgage Loan shall be originated pursuant to the Underwriting Guidelines (subject to any material modifications
approved by the Insurer) Seller Form Documents or in accordance with a Borrower’s, Tenant’s or a different form of document that is otherwise approved by an Seller on a case by case basis in a manner that provides for Seller to receive the
substantive benefits intended to be realized under the material terms of Seller Form Documents. 
 (uu) None of the
Mortgage Loans are construction loans. 
 2. Mortgaged Properties and Leases. With respect to each Property
(as identified in Schedule II-A), Seller hereby represents and warrants, as of the date herein below specified or, if no such date is specified, as of the Closing Date, except as set forth on Schedule II hereto, that: 

(a) Seller owns such Property and Lease free and clear of any and all liens and other encumbrances except for the Permitted
Exceptions. 
 (b) Seller has full right and authority to sell, contribute, assign, mortgage, pledge and transfer its
interest in such Lease and Property or, to the extent that consent of a Tenant is required, such consent has been obtained. 

(c) The information set forth in the Lease Schedule (attached as Exhibit D) with respect to such Property and Lease was true and
correct in all material respects as of the Closing Date. 
 (d) Such Lease for the related Property was not delinquent
(giving effect to any applicable grace period) in the payment of any monthly Lease payments (other than percentage rents that are being recalculated with respect to certain Leases set 

  
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forth in the Lease Schedule) as of the Closing Date, and has not been during the time owned by Seller, 30 days or more delinquent in respect of any monthly Lease payment required thereunder.

 (e) Lessor estoppels containing protection provisions have been obtained from the owner of the fee simple interest in
each Property in which Seller has only a ground leasehold interest. 
 (f) With respect to the related Lease for each
Property, (i) there exists no material default, breach or event of acceleration under the Lease or any other agreement, document or instrument executed in connection with such Lease, (ii) to Seller’s knowledge, there exists no event
(other than payments due but not yet delinquent) that, with the passage of time or with notice and the expiration of any grace or cure period, would constitute such a material default, breach or event of acceleration under the Lease and
(iii) there exists no material default, breach or event of acceleration under the Lease which Seller, as landlord, or its servicer is not pursuing to cure, resolve or otherwise pursue remedies under the Lease with diligence. 

(g) Neither such Lease nor any other agreement, document or instrument executed in connection with such Lease has been waived,
modified, altered, satisfied, cancelled or subordinated in any material respect, and such Lease has not been terminated or cancelled, nor has any instrument been executed that would effect any such waiver, modification, alteration, satisfaction,
termination, cancellation, subordination or release, except in each case by a written instrument that is part of the related Lease File. 
 (h) The Property is covered by an American Land Title Association (or an equivalent form thereof as adopted in the applicable jurisdiction) mortgagee’s title insurance policy (the “Title
Policy”), or during the 6 months after the date of transfer thereof, a Title Policy in an amount at least equal to the Appraised Value of such Property, subject only to the Permitted Exceptions (to the extent stated therein); such title
insurance policy is in full force and effect and names the Collateral Agent as a mortgagee of record; as of the Closing Date, all premiums for the title policy have been paid; and as of the Closing Date, no material claims have been made
thereunder. The Title Policy has been issued by a company licensed to issue such policies in the state in which such Property is located. 
 (i) The Lease is not a Defaulted Asset or a Delinquent Asset as of the Closing Date. 
 (j) At commencement of the Lease the Tenant had all material licenses, permits and material agreements, including without limitation franchise agreements and certificates of occupancy, necessary for
the operation and continuance of the Tenant’s business on the Property; and, to the best of Seller’s knowledge, (1) the Tenant is not in default of its obligations under any such applicable license, permit or agreement and
(2) each such license, permit and agreement is in full force and effect. 

  
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 (k) The Tenant is not the subject of any bankruptcy or insolvency proceeding.

 (l) There are no pending actions, suits or proceedings by or before any court or governmental authority against or
affecting, such Lease, such Property or, to Seller’s knowledge, the Tenant, that is reasonably likely to be determined adversely and, if determined adversely, would materially and adversely effect the value of the Lease or use or value of the
Property, or the ability of the Tenant to pay any amounts due under the Lease. 
 (m) All of the material improvements
built or to be built on the Property that were included for the purpose of determining the appraised value of the Property lay within the boundaries of such Property and there are no encroachments into the building setback restriction lines of such
Property in any way that would materially and adversely affect the value of the Property or the ability of the Tenant to pay any amounts due under the Lease (unless affirmatively covered in the applicable Title Policy described in (h) above.)

 (n) There are no delinquent or unpaid taxes or assessments, or other outstanding charges affecting any Property that
are or may become a lien of priority equal to or higher than the lien of the Mortgage in favor of the Indenture Trustee (or Collateral Agent on its behalf) other than such amounts that do not materially and adversely affect the value of the Lease or
use or value of the Property against the fee interest of Seller in the Property. For purposes of this representation and warranty, real property taxes and assessments shall not be considered unpaid until the date on which interest and/or
penalties would be payable thereon. 
 (o) There is no valid dispute, claim, offset, defense or counterclaim to
Seller’s rights in the Lease. 
 (p) There is no proceeding pending for the total or partial condemnation of the
Property and the Property is free and clear of any damage that would materially and adversely affect the value or use of such Property. 
 (q) The Lease or other agreement, document or instrument executed in connection with such Lease is the legal, valid and binding and enforceable obligation of the Tenant (subject to certain
creditors’ rights exceptions and other exceptions of general application) and is in full force and effect. 

(r) Except for Leases that permit the Tenant to self-insure, each Lease requires the Tenant to maintain (or make payment to the
lessor to cover such premiums) in respect of the Property insurance against loss by hazards (excluding flood and earthquake) and comprehensive general liability insurance in amounts generally required by Seller, and in some cases (which may be only
required at an Seller’s request), business interruption or rental value insurance for at least 6 months; all of such insurance required under the Lease for such Property (including, without limitation, if provided under a master insurance
policy of Seller or an affiliate thereof) is in full force and effect and 

  
 24 

 names Seller or their respective successors and assigns as an additional insured; all premiums for any
insurance policies (including, without limitation, any applicable master insurance policy of Seller or an affiliate thereof) required to be paid have been paid; all of such insurance policies require prior notice to the lessor under the Lease of
termination or cancellation, and no such notices have been received; in the event that the Tenant fails to maintain the insurance required thereunder, the Lease (or other applicable document) authorizes the lessor under the Lease to maintain such
insurance at the Tenant’s cost and expense and to seek reimbursement therefor from such Tenant. If such Property is located in a “Special Flood Hazard Zone” so designated by the Secretary of the United States Department of Housing and
Urban Development, such Property is required under the Lease to be covered by insurance against loss by flood in amounts generally required by Seller which insurance is in full force and effect. With respect to each Lease that permits the
related Tenant to self-insure, such Lease requires one of the following in order for such Tenant to self-insure: (i) the related Tenant to not be in default, and such Tenant or any related Lease Guarantor must either be a company listed on the
NYSE with an NAIC rating of “2” or better; (ii) the related Tenant to not be in default and maintain a minimum tangible net worth of at least $50,000,000; (iii) the related Tenant to maintain limits of not less than $2,000,000;
or (iv) that the related Tenant may self-insure up to $100,000 single limits per occurrence for each $10,000,000 of such Tenant’s net worth as reflected on such Tenant’s most recent audited balance sheet. 

(s) The Property was subject to one or more environmental assessments or reports (or an update of a previously conducted assessment
or report) and Seller has no knowledge of any material and adverse environmental conditions or circumstance affecting such Property that was not disclosed in the related assessment or report(s). There are no material and adverse environmental
conditions or circumstances affecting the Property other than, with respect to any adverse environmental condition described in such report, those conditions for which remediation has been completed and, thereafter, to the extent that such report or
remediation program so recommended, (i) a program of annual integrity testing and/or monitoring was recommended and implemented in connection with the Property or an adjacent or neighboring property; (ii) an operations and maintenance plan
or periodic monitoring of such mortgaged Property or nearby properties was recommended and implemented or (iii) a follow-up plan was otherwise required to be taken under CERCLA (as defined below) or under regulations established thereunder from
time to time by the Environmental Protection Agency and such plan has been implemented in the case of (i), (ii) and (iii) above, Seller determined in accordance with the Underwriting Guidelines that adequate funding was available for such
program or plan, as applicable. Seller has not taken any action with respect to the Property that would subject Seller, or its successors and assigns in respect of the Property, to any liability under the Comprehensive Environmental Response,
Compensation and Liability Act of 1980, as amended (“CERCLA”) or any other applicable federal, state or local environmental law, and Seller has not received any actual notice of a material violation of CERCLA or any applicable
Environmental Law with respect to the Property that was not disclosed in the related report. The Lease requires the Tenant to comply with all applicable federal, state and local laws, including Environmental Laws. The Lease specifically
requires compliance with any Environmental Laws. For purposes of this clause (s), “Environmental Law” means any 

  
 25 

 present federal, state and local laws, statutes, ordinances, rules, regulations, standards, policies,
consent decrees, consent or settlement agreements and other governmental directives or requirements, as well as common law, that apply to the Property and relate to Hazardous Substances, including, without limitation, CERCLA and RCRA and
“Hazardous Substances” means petroleum and petroleum products and compounds containing them, including gasoline, diesel fuel and oil; explosives; flammable materials; radioactive materials; polychlorinated biphenyls (PCBs) and compounds
containing them; lead and lead-based paint; asbestos or asbestos-containing materials in any form that is or could become friable; underground or above-ground storage tanks, whether empty or containing any substance; any substance the presence of
which on the Property is regulated by or prohibited by any federal, state or local authority; any substance that requires special handling; and any other material, substance or waste now or in the future defined as a “hazardous substance,”
“hazardous material,” “hazardous waste,” “toxic substance,” “toxic pollutant,” “contaminant,” “pollutant” or other words of similar import within the meaning of any Environmental Law.

 (t) Such Property is free and clear of any mechanics’ and materialmen’s liens or liens in the nature thereof
that would materially and adversely affect the value, use or operation of such Property except those that are insured against by the Title Policy referred to in (h) above. 

(u) The Lease, together with applicable state law, contains customary and enforceable provisions such as to render the rights and
remedies of the lessors thereof adequate for the practical realization against the related Property of the principal benefits of the security intended to be provided thereby. 
 (v) With respect to each Property: 
 (1) such Property
is not subject to any lease other than a sublease and/or the related Lease; no person has any possessory interest in, or right to occupy, the leased property except under and pursuant to the Lease or such sublease; the Tenant (or sub-tenant) is in
occupancy of the Property and is paying rent pursuant to the Lease; and, in the case of any sublease, the Tenant remains primarily liable on the Lease; 
 (2) except with respect to those Properties with respect to which the Tenant can terminate the related Lease during the last 42 months of the lease term in the event of a casualty and any insurance
proceeds related thereto are payable to the Tenant, the obligations of the Tenant, including, but not limited to, the obligation to pay fixed and additional rent, are not affected by reason of: any damage to or destruction of any portion of the
leased property; any taking of the leased property or any part thereof by condemnation or otherwise; or any prohibition, limitation, interruption, cessation, restriction, prevention or interference of the Tenant’s use, occupancy or enjoyment of
the leased property, except the Tenant’s rights to abate or terminate its obligation to pay fixed or additional rent are coupled with insurance proceeds or condemnation 

  
 26 

 awards going to the lessor; or the right to abate as a result of a
landlord’s default; 
 (3) Seller as lessor under the Lease does not have any monetary obligations
under the Lease that have not been satisfied; 
 (4) the Tenant has not been released, in whole or in part,
from its obligations under the terms of the Lease; 
 (5) all obligations related to the initial
construction of the improvements on the Property have been satisfied and except for the obligation to rebuild such improvements after a casualty (which obligation is limited by available insurance proceeds), Seller does not have any nonmonetary
obligations under the Lease and has made no representation or warranty under the Lease, the breach of which would result in the abatement of rent, a right of setoff or termination of the Lease; 

(6) there is no right of rescission, set-off, abatement (except in the case of casualty or condemnation),
diminution, defense or counterclaim to the Lease, nor does the operation of any of the terms of the Lease, or the exercise of any rights thereunder, render the Lease unenforceable, in whole or in part, or subject to any right of rescission, set-off,
abatement, diminution, defense or counterclaim, and no such right has been asserted; 
 (7) the Tenant has
agreed to indemnify the lessor from any claims of any nature relating to the Lease and the related leased property other than the lessor’s gross negligence or willful misconduct, including, without limitation, arising as a result of violations
of environmental and hazardous waste laws resulting from the Tenant’s operation of the property; 

(8) any obligation or liability imposed on the lessor by any easement or reciprocal easement agreement is also an
obligation of the Tenant under the Lease; 
 (9) the Tenant is required to make rental payments as directed
by the lessor and its successors and assigns; and 
 (10) except in certain cases where the Tenant may
exercise a right of first refusal, the Lease is freely assignable by the lessor and its successors and assigns to any person without the consent of the Tenant, and in the event the lessor’s interest is so assigned, the Tenant is obligated to
recognize the assignee as lessor under such Lease, whether under the Lease or by operation of law. 
 (w) In connection
with Leases with a guaranty: 

  
 27 

 (1) such guaranty, on its face, is unconditional, irrevocable and
absolute, and is a guaranty of payment and not merely of collection and contains no conditions to such payment, other than a notice and right to cure; and the guaranty provides that it is the guaranty of both the performance and payment of the
financial obligations of the Tenant under the Lease and does not provide for offset, counterclaim or defense; and 
 (2) such guaranty is binding on the successors and assigns of the guarantor and inures to the benefit of the lessor’s successors and assigns and cannot be released or amended without the
lessor’s consent or unless a predetermined performance threshold is achieved. 
 (x) No fraudulent acts were committed
by Seller during the origination process with respect to the Lease related to such Property. 
 (y) In connection with the
acquisition of each Property, Seller inspected or caused to be inspected the Property by inspection, appraisal or otherwise as required in Seller’s Underwriting Guidelines then in effect. 

(z) The origination, servicing and collection of monthly Lease payments on such Lease is in all respects legal, proper and prudent
and in accordance with customary industry standards. 
 (aa) To the extent required under applicable law, Seller was
authorized to transact and do business in the jurisdiction in which such Property is located, except where such failure to qualify would not result in a material adverse effect on the enforceability of the related Lease. 

(bb) The Property has adequate rights of access to public rights-of-way and is served by utilities, including, without limitation,
adequate water, sewer, electricity, gas, telephone, sanitary sewer, and storm drain facilities. All public utilities necessary to the continued use and enjoyment of the Property as presently used and enjoyed are located in the public right-of-way
abutting the Property or are the subject of access easements for the benefit of the Property, and all such utilities are connected so as to serve the Property without passing over other property or are the subject of access easements for the benefit
of the Property. All roads necessary for the full use of the Property for its current purpose have been completed and dedicated to public use and accepted by all governmental authorities or are the subject of access easements for the benefit of the
Property. 
 (cc) The Lease File contains a survey with respect to such Property, which survey was deemed sufficient to
delete the standard title survey exception (to the extent the deletion of such exception is available in the related state). 

(dd) No adverse selection was employed in selecting such Lease. 

(ee) With respect to any of the Properties which are the subject of a Master Lease (noting that not all properties subject to such
Master Lease are included in 

  
 28 

 the Properties), the lessor under the Master Lease has assigned its interest in the Leases of the Properties
to Seller and Seller and the other lessors under the Master Leases have entered into inter-lessor agreements by which the rents and the rights to enforce the provisions of the Master Leases pertinent to any of the Properties have also been assigned
to Seller. 
 (ff) Such Property is (i) free of any damage that would materially and adversely affect the use or
value of such Property, (ii) in good repair and condition so as not to materially and adversely affect the use or value of such Property; and all building systems contained in such Property are in good working order so as not to materially and
adversely affect the use or value of such Property. 
 (gg) All security deposits collected in connection with such
Property are being held in accordance with all applicable laws. 
 To Seller’s actual knowledge, based upon zoning
letters, zoning report, the Title Policy, historical use and/or other due diligence customarily performed by Seller in connection with the acquisition of the Property, the improvements located on or forming part of such Property comply in all
material respects with applicable zoning laws and ordinances (except to the extent that they may constitute legal non-conforming uses), including the existence of a certificate of occupancy. 

3. Equipment Loans. With respect to each Equipment Loan (as identified in Schedule III-A), Seller hereby represents and
warrants, as of the date herein below specified or, if no such date is specified, as of the Closing Date, except as set forth on Schedule III hereto, that: 
 (a) Immediately prior to the transfer and assignment of the Equipment Loan to Seller, Purchaser had good and insurable fee title to, and was the sole owner and holder of, the Equipment Loan, free and
clear of any and all liens, encumbrances and other interests on, in or to the Equipment Loan. Such transfer and assignment from Seller to Purchaser of the Equipment Loan by collateral assignment and by individual allonges of the Equipment Loan
Notes and Assignments of the Security Agreements in blank validly assigns all of Seller’s right, title and ownership of the Equipment Loan to Purchaser (and, with respect to the Security Agreement, to the Collateral Agent) free and clear of any
pledge, lien, encumbrance or security interest. 
 (b) Seller has full right and authority to sell, contribute, assign and
transfer the Equipment Loan to Purchaser. The entire agreement with Seller (whether originated by Seller or a different originator) is contained in the Loan Documents and there are no warranties, agreements or options regarding such Equipment
Loan or the related secured equipment not set forth therein. Other than the Loan Documents, there are no agreements between any predecessor in interest in the Equipment Loan and the Borrower. 

(c) The information pertaining to the Equipment Loan set forth in the Equipment Loan Schedule attached to the Purchase and Sale
Agreements (the 

  
 29 

 “Equipment Loan Schedule”) was true and correct in all material respects as of the related
Transfer Date. The Equipment Loan was originated or acquired in accordance with, and fully complies with, the Underwriting Guidelines in all material respects. The related Loan File contains all of the documents and instruments required to
be contained therein. 
 (d) [Reserved]. 
 (e) [Reserved]. 
 (f) Seller has not waived any material default,
breach, violation or event of acceleration existing under the Security Agreement or Equipment Loan Note. 
 (g) The
Borrower has not waived any material default, breach, violation or event of acceleration by the Tenant existing under the Lease. 
 (h) There is no valid offset, defense or counterclaim to the payment or performance obligations of the Equipment Loan. 
 (i) The secured equipment securing any Equipment Loan is free and clear of any damage that would materially and adversely affect its value as security for the Equipment Loan. 

(j) The Equipment Loan complied with all applicable usury laws in effect at its date of origination. 

(k) The proceeds of the Equipment Loan have been fully disbursed and there is no requirement for future advances
thereunder. All costs, fees and expenses incurred in making, closing and recording the Equipment Loan, including, but not limited to, Security Agreement recording taxes and recording and filing fees relating to the origination of such Equipment
Loan, have been paid. Any and all requirements as to completion of any on-site or off-site improvement by the Borrower and as to disbursements of any escrow funds therefor that were to have been complied with have been complied with.

 (l) The Borrower under the related Equipment Loan Note, Security Agreement and all other Loan Documents had the power,
authority and legal capacity to enter into, execute and deliver the same, and, as applicable, such Equipment Loan Note, Security Agreement and Loan Documents have been duly authorized, properly executed and delivered by the parties thereto, and each
is the legal, valid and binding obligation of the maker thereof (subject to any non recourse provisions contained in any of the foregoing agreements and any applicable state anti deficiency legislation), enforceable in accordance with its terms,
except as such enforcement may be limited by bankruptcy, insolvency, reorganization, receivership, moratorium or other laws relating to or affecting the rights of creditors generally and by general principles of equity (regardless of whether such
enforcement is considered in a proceeding in equity or at law). 
 (m) [Reserved]. 

  
 30 

 (n) [Reserved]. 

(o) The Equipment Loan is not cross-collateralized with any Equipment Loan that is not included in the Collateral Pool. 

(p) The terms of the Security Agreement, Equipment Loan Note, and other Loan Documents have not been impaired, waived, altered,
modified, satisfied, canceled or subordinated in any material respect, except by written instruments that are part of the Loan File, recorded or filed in the applicable public office if necessary to maintain the priority of the lien of the related
Security Agreement, delivered to Purchaser or its designee. 
 (q) There are no delinquent taxes or other similar
outstanding lienable charges affecting the secured equipment which are or may become a lien of priority equal to or higher than the lien of the Security Agreement. For purposes of this representation and warranty, personal property taxes and
assessments shall not be considered unpaid until the date on which interest and/or penalties would be payable thereon. 

(r) [Reserved]. 
 (s) Each Equipment Loan is a whole loan and not a participation interest. 

(t) [Reserved]. 
 (u) All escrow deposits relating to the Equipment Loan that are required to be deposited with the related Seller or its agent have been so deposited. 

(v) [Reserved]. 
 (w) [Reserved] 
 (x) (i) There exists no material default, breach
or event of acceleration under the Equipment Loan or any of the Loan Documents or the Lease, (ii) there exists no event (other than payments due but not yet delinquent) that, with the passage of time or with notice and the expiration of any
grace or cure period, would constitute such a material default, breach or event of acceleration (iii) no payment on any Equipment Loan is, or has previously been during any time owned by Seller or Purchaser, 30 or more days delinquent and
(iv) no payment on any Lease is or has previously been 30 or more days delinquent; provided, however, that this representation and warranty does not cover any default, breach or event of acceleration that specifically pertains to any matter
otherwise covered or addressed by any other representation and warranty made by Seller with respect to the Equipment Loans. 

(y) [Reserved]. 
 (z) The Equipment Loan contains no equity participation by or shared appreciation rights in the lender or beneficiary under the Security Agreement, and does 

  
 31 

 not provide for any contingent or additional interest in the form of participation in the cash flow of the
secured equipment securing the Equipment Loan, or for negative amortization. 
 (aa) No holder of the Equipment Loan has
advanced funds or induced, solicited or knowingly received any advance of funds from a party other than the owner of the secured equipment securing the Equipment Loan, directly or indirectly, for the payment of any amount required by the Equipment
Loan (other than amounts paid by the Tenant as specifically provided under the related Lease). 
 (bb) To Seller’s
knowledge, based on due diligence customarily performed in the origination or acquisition of comparable Equipment Loans by Seller, as of the date of origination or acquisition of the Equipment Loans, the related Borrowers, were in compliance with
all applicable laws relating to the ownership and operation of the Equipment securing the Equipment Loan as they were then operated and were in possession of all material licenses, permits and authorizations required by applicable laws for the
ownership and operation of such Equipment as they were operated. With respect to Equipment that are operated as franchised properties, and except with respect to Equipment Loans for which the related Tenant is the franchisor, the Tenant of such
secured equipment has entered into a legal, valid, and binding franchise agreement and such lessee operator has represented in the applicable lease documents that, as of the date of origination or acquisition of the Equipment Loan, there were no
defaults under the franchise agreement by such Tenant. 
 (cc) The origination, servicing and collection practices Sellers
used with respect to the Equipment Loan since Seller’s origination or acquisition thereof, have complied with applicable law in all material respects and are consistent and in accordance with the terms of the related Loan Documents and in
accordance with the applicable servicing standard and customary industry standards. 
 (dd) The Security Agreement or
Equipment Loan Note, together with applicable state law, contains customary and enforceable provisions (subject to the exceptions set forth in paragraph (l) above) such as to render the rights and remedies of the holders thereof adequate for
the practical realization against the secured equipment securing the Equipment Loan of the principal benefits of the security intended to be provided thereby, including the right of foreclosure under the laws of the state in which the secured
equipment securing the Equipment Loan is located governing foreclosures of Security Agreements and deeds of trust under power of sale. 
 (ee) [Reserved]. 
 (ff) There are no actions, suits, legal, arbitration
or administrative proceedings or investigations by or before any court or governmental authority or, to the best of Seller’s knowledge, pending against or affecting the Borrower, the secured equipment securing the Equipment Loan that, if
determined adversely to such Borrower, secured equipment securing the Equipment Loan, would materially and adversely affect the value of the secured equipment securing the Equipment Loan or the ability of the 

  
 32 

 Borrower to pay principal, interest or any other amounts due under the Equipment Loan or
the Lease, as applicable. 
 (gg) [Reserved]. 
 (hh) [Reserved]. 
 (ii) The Security Agreement does not permit the
secured equipment securing the Equipment Loan to be encumbered by any lien junior to or of equal priority with the lien of the Security Agreement (excluding any lien relating to another Equipment Loan that is cross collateralized with the Equipment
Loan) without the prior written consent of the holder thereof. 
 (jj) The Borrower is not a debtor in any state or
federal bankruptcy or insolvency proceeding. 
 (kk) As of the date of origination or acquisition of each Equipment Loan
by Seller, each Borrower which is not a natural person was duly organized and validly existing under the laws of the state of its jurisdiction. 
 (ll) [Reserved]. 
 (mm) [Reserved]. 

(nn) [Reserved]. 
 (oo) Any secured equipment is located within one of the 50 United States or the District of Columbia. 
 (pp) [Reserved]. 
 (qq) Seller does not have knowledge of any
circumstance or condition with respect to such Equipment Loan, the secured equipment securing the Equipment Loan, the Lease or the Borrower’s or the Tenant’s credit standing that could reasonably be expected to cause Purchaser to regard
such Equipment Loan as unacceptable security, cause such Equipment Loan or Lease to become delinquent or have a material adverse effect on the value or marketability of such Equipment Loan. 

(rr) [Reserved]. 
 (ss) [Reserved]. 
 (tt) With respect to Equipment Loans originated
after the Series Closing Date and with respect to any Qualified Substitute Mortgage Loans purchased or substituted by Purchaser from a third party, each Equipment Loan and the related secured equipment securing the Equipment Loan shall be originated
pursuant to the Underwriting Guidelines (subject to any material modifications approved by the Insurer) Seller Form Documents or in accordance with a Borrower’s, Tenant’s or a different form of document 

  
 33 

 that is otherwise approved by an Seller on a case by case basis in a manner that provides for Seller to
receive the substantive benefits intended to be realized under the material terms of Seller Form Documents. 
 [Remainder of
page intentionally left blank; signature page to follow] 

  
 34 

 IN WITNESS WHEREOF, Issuer has caused this Issuer Certification to be executed as of the day
and year first above written. 
  

	
	 SPIRIT MASTER FUNDING, LLC

	
	
By:                       
                                        
                                 

	
Name:                       
                                         
                          

	
Title:                 
                                         
                                  

  
 35 

 SCHEDULE I-A 
 MORTGAGE LOANS 
 I-A-1 

  

													
	 Property ID
	  	 Obligor
	  	 Concept
	  	 Address
	  	 City
	  	 ST
	  	Zip Code
							
	P0000051	  	Taco Bueno Restaurants, Inc.	  	Taco Bueno	  	1321 Desiree Lane	  	Hurst	  	TX	  	74145-
4818
							
	P0000052	  	Taco Bueno Restaurants, Inc.	  	Taco Bueno	  	2307 S Cooper St	  	Arlington	  	TX	  	76015-
1602
							
	P0000053	  	Taco Bueno Restaurants, Inc.	  	Taco Bueno	  	5600 Camp Bowie Blvd	  	Fort Worth	  	TX	  	76107-
5119
							
	P0000054	  	Taco Bueno Restaurants, Inc.	  	Taco Bueno	  	1528 Brown Trl	  	Bedford	  	TX	  	76021-
5343
							
	P0000055	  	Taco Bueno Restaurants, Inc.	  	Taco Bueno	  	7436 E Admiral Pl	  	Tulsa	  	OK	  	74115-
7913
							
	P0000056	  	Taco Bueno Restaurants, Inc.	  	Taco Bueno	  	8601 Highway 80 W	  	Fort Worth	  	TX	  	76116-
6101
							
	P0000057	  	Taco Bueno Restaurants, Inc.	  	Taco Bueno	  	205 Spur 350	  	Euless	  	TX	  	76040-
4583
							
	P0000058	  	Taco Bueno Restaurants, Inc.	  	Taco Bueno	  	4117 Buffalo Gap Rd	  	Abilene	  	TX	  	79605-
7233
							
	P0000059	  	Taco Bueno Restaurants, Inc.	  	Taco Bueno	  	5748 SW Green Oaks Blvd	  	Arlington	  	TX	  	76017-
1201
							
	P0000060	  	Taco Bueno Restaurants, Inc.	  	Taco Bueno	  	1550 W University Dr	  	Denton	  	TX	  	76201-
1790
							
	P0000061	  	Taco Bueno Restaurants, Inc.	  	Taco Bueno	  	6350 Lake Worth Blvd	  	Lake Worth	  	TX	  	76135-
3102
							
	P0000062	  	Taco Bueno Restaurants, Inc.	  	Taco Bueno	  	8611 S Lewis Ave	  	Tulsa	  	OK	  	74137-
3206
							
	P0000063	  	Taco Bueno Restaurants, Inc.	  	Taco Bueno	  	5724 Broadway Blvd	  	Garland	  	TX	  	75043-
5818
							
	P0000064	  	Taco Bueno Restaurants, Inc.	  	Taco Bueno	  	1113 W Northwest Hwy	  	Grapevine	  	TX	  	76051-
5034
							
	P0000065	  	Taco Bueno Restaurants, Inc.	  	Taco Bueno	  	301 W Shawnee St	  	Muskogee	  	OK	  	74401-
4152
							
	P0000066	  	Taco Bueno Restaurants, Inc.	  	Taco Bueno	  	2001 NW 23rd St	  	Oklahoma City	  	OK	  	73106-
1203
							
	P0000067	  	Taco Bueno Restaurants, Inc.	  	Taco Bueno	  	7057 Ridgmar Meadow Rd	  	Fort Worth	  	TX	  	76116-
1516
							
	P0000068	  	Taco Bueno Restaurants, Inc.	  	Taco Bueno	  	1210 W Will Rogers Blvd	  	Claremore	  	OK	  	74017-
3426
							
	P0000069	  	Taco Bueno Restaurants, Inc.	  	Taco Bueno	  	1301 S Meridian Ave	  	Oklahoma City	  	OK	  	73108-
1707
							
	P0000070	  	Taco Bueno Restaurants, Inc.	  	Taco Bueno	  	6112 S Garnett Rd	  	Broken Arrow	  	OK	  	74012-
1217
							
	P0000071	  	Taco Bueno Restaurants, Inc.	  	Taco Bueno	  	2630 S Buckner Blvd	  	Dallas	  	TX	  	75227-
6901
							
	P0000072	  	Taco Bueno Restaurants, Inc.	  	Taco Bueno	  	722 S Main St	  	Sapulpa	  	OK	  	74066-
5104
							
	P0000073	  	Taco Bueno Restaurants, Inc.	  	Taco Bueno	  	5010 US Highway 277 S	  	Abilene	  	TX	  	79605-
4543
							
	P0000074	  	Taco Bueno Restaurants, Inc.	  	Taco Bueno	  	3023 SW 29th St	  	Oklahoma City	  	OK	  	73119-
1713
							
	P0000075	  	Taco Bueno Restaurants, Inc.	  	Taco Bueno	  	6834 Wesley St	  	Greenville	  	TX	  	75402-
7303
							
	P0000076	  	Taco Bueno Restaurants, Inc.	  	Taco Bueno	  	2951 N Belt Line Rd	  	Irving	  	TX	  	75062-
5248
							
	P0000077	  	Taco Bueno Restaurants, Inc.	  	Taco Bueno	  	5380 N Beach St	  	Haltom City	  	TX	  	76137-
2730

 I-A-2 

  

													
	 Property ID
	 	 Obligor
	  	Concept	  	Address	  	City	  	ST	  	Zip
Code
							
	P0000078	 	Taco Bueno Restaurants, Inc.	  	Taco Bueno	  	5341 William D Tate Ave	  	Grapevine	  	TX	  	76051-7357
							
	P0000079	 	Taco Bueno Restaurants, Inc.	  	Taco Bueno	  	2404 Westport Pkwy	  	Fort Worth	  	TX	  	76177-5302
							
	P0000080	 	Taco Bueno Restaurants, Inc.	  	Taco Bueno	  	3204 SE Loop 820	  	Forest Hill	  	TX	  	76140-1107
							
	P0000081	 	Taco Bueno Restaurants, Inc.	  	Taco Bueno	  	3700 Eldorado Pkwy	  	McKinney	  	TX	  	75070-4228
							
	P0000082	 	Taco Bueno Restaurants, Inc.	  	Taco Bueno	  	5032 S Sheridan Rd	  	Tulsa	  	OK	  	74145-5714
							
	P0000083	 	Taco Bueno Restaurants, Inc.	  	Taco Bueno	  	1725 W Owen K Garriott Rd	  	Enid	  	OK	  	73703-5604
							
	P0000084	 	Taco Bueno Restaurants, Inc.	  	Taco Bueno	  	2814 E 11th St	  	Tulsa	  	OK	  	74104-4113
							
	P0000085	 	Taco Bueno Restaurants, Inc.	  	Taco Bueno	  	2305 E Southlake Blvd	  	Southlake	  	TX	  	76092-6603
							
	P0000086	 	Advance Auto Parts, Inc.	  	Discount Auto
Parts	  	1603 S Main St	  	Atmore	  	AL	  	36502-3501
							
	P0000087	 	Advance Auto Parts, Inc.	  	Discount Auto
Parts	  	5605 E Rite Rd	  	Theodore	  	AL	  	36582-1665
							
	P0000088	 	Advance Auto Parts, Inc.	  	Discount Auto
Parts	  	8300 NW 103rd St	  	Hialeah	  	FL	  	33016-2253
							
	P0000089	 	Advance Auto Parts, Inc.	  	Discount Auto
Parts	  	615 N Dixie Fwy	  	New Smyrna Beach	  	FL	  	32168-6409
							
	P0000090	 	Advance Auto Parts, Inc.	  	Discount Auto
Parts	  	7522 Southgate Blvd	  	Margate	  	FL	  	33068-1362
							
	P0000091	 	Advance Auto Parts, Inc.	  	Discount Auto
Parts	  	5121 Powerline Rd	  	Fort Lauderdale	  	FL	  	33309-3156
							
	P0000092	 	Advance Auto Parts, Inc.	  	Discount Auto
Parts	  	3012 W Hillsborough Ave	  	Tampa	  	FL	  	33614-5963
							
	P0000093	 	Advance Auto Parts, Inc.	  	Discount Auto
Parts	  	10824 S US Highway 41	  	Gibsonton	  	FL	  	33534-4708
							
	P0000094	 	Advance Auto Parts, Inc.	  	Advance Auto
Parts	  	2636 S Smithville Rd	  	Dayton	  	OH	  	45420-2642
							
	P0000095	 	Advance Auto Parts, Inc.	  	Advance Auto
Parts	  	3210 Library Rd	  	Castle Shannon	  	PA	  	15234-2631
							
	P0000096	 	Advance Auto Parts, Inc.	  	Advance Auto
Parts	  	3317 Agency St	  	Burlington	  	IA	  	52601-1959
							
	P0000097	 	Advance Auto Parts, Inc.	  	Discount Auto
Parts	  	311 E Oakland Ave	  	Camilla	  	GA	  	31730-1969
							
	P0000098	 	Advance Auto Parts, Inc.	  	Discount Auto
Parts	  	2815 Montgomery St	  	Savannah	  	GA	  	31405-3200
							
	P0000099	 	Advance Auto Parts, Inc.	  	Discount Auto
Parts	  	1501 Manchester Expy	  	Columbus	  	GA	  	31904-6659
							
	P0000100	 	Advance Auto Parts, Inc.	  	Discount Auto
Parts	  	203 W 6th St	  	Waynesboro	  	GA	  	30830-1461
							
	P0000101	 	Advance Auto Parts, Inc.	  	Discount Auto
Parts	  	402 Columbia St	  	Blakeley	  	GA	  	31723-1703
							
	P0000102	 	Advance Auto Parts, Inc.	  	Discount Auto
Parts	  	2196 US Highway 17	  	Richmond Hill	  	GA	  	31324-3671
							
	P0000103	 	Advance Auto Parts, Inc.	  	Discount Auto
Parts	  	3602 Peach Orchard Rd	  	Augusta	  	GA	  	30906-9436
							
	P0000104	 	Advance Auto Parts, Inc.	  	Discount Auto
Parts	  	760 E King Avenue	  	Kingsland	  	GA	  	31548-6317

 I-A-3 

  

													
	 Property ID
	  	 Obligor
	  	Concept	  	Address	  	City	  	ST	  	Zip
Code
							
	P0000105	  	Advance Auto Parts, Inc.	  	Discount
Auto Parts	  	310 W Taylor St	  	Griffin	  	GA	  	30223-
3029
							
	P0000106	  	Advance Auto Parts, Inc.	  	Discount
Auto Parts	  	5621 Riverdale Dr	  	College Park	  	GA	  	30349-
6443
							
	P0000107	  	Advance Auto Parts, Inc.	  	Discount
Auto Parts	  	1496 US Highway 19	  	Leesburg	  	GA	  	31763-
4834
							
	P0000108	  	Advance Auto Parts, Inc.	  	Discount
Auto Parts	  	950 E Boston St	  	Covington	  	LA	  	70433-
3282
							
	P0000109	  	Advance Auto Parts, Inc.	  	Advance
Auto Parts	  	2602 Washington Ave	  	Alton	  	IL	  	62002-
5466
							
	P0000110	  	Advance Auto Parts, Inc.	  	Advance
Auto Parts	  	3510 Gravois Ave	  	Saint Louis	  	MO	  	63118-
3504
							
	P0000111	  	Advance Auto Parts, Inc.	  	Discount
Auto Parts	  	5060 Hardy St	  	Hattiesburg	  	MS	  	39402-
1307
							
	P0000112	  	Advance Auto Parts, Inc.	  	Discount
Auto Parts	  	300 US Highway 80 W	  	Clinton	  	MS	  	39056
							
	P0000113	  	Advance Auto Parts, Inc.	  	Discount
Auto Parts	  	1259 Ellis Ave	  	Jackson	  	MS	  	39209-
7328
							
	P0000114	  	Advance Auto Parts, Inc.	  	Discount
Auto Parts	  	179 Sgt Prentiss Dr	  	Natchez	  	MS	  	39120-
4733
							
	P0000115	  	Advance Auto Parts, Inc.	  	Discount
Auto Parts	  	198 Northside Dr	  	Newton	  	MS	  	39345-
9747
							
	P0000116	  	Advance Auto Parts, Inc.	  	Discount
Auto Parts	  	614 Central Ave W	  	Wiggins	  	MS	  	39577-
2531
							
	P0000117	  	Advance Auto Parts, Inc.	  	Discount
Auto Parts	  	550 E Baruch St	  	Denmark	  	SC	  	29042-
1307

 I-A-4 

  

 SCHEDULE I 
 MORTGAGE LOAN – EXCEPTIONS 
 None. 

  
 I-1

 SCHEDULE II-A 
 PROPERTIES 

  
 II-A-1

													
	 Property
ID
	  	Obligor	  	Concept	  	Address	  	City	  	ST	  	Zip
Code
	 P0000047
	  	Flying J. Inc.	  	Flying J Travel Plaza	  	950 State Road 206 West	  	Saint Augustine	  	FL	  	3307 N
	 P0000048
	  	Flying J. Inc.	  	Flying J Travel Plaza	  	10226 Old Federal Highway	  	Carnesville	  	GA	  	30521
	 P0000049
	  	Flying J. Inc.	  	Flying J Travel Plaza	  	5300 S SR 3	  	Spiceland	  	IN	  	47385
	 P0000050
	  	Flying J. Inc.	  	Flying J Travel Plaza	  	15236 State Route 180	  	Catlettsburg	  	KY	  	41129-9211
	 P0000122
	  	America’s Power Sports	  	KC’s Powersports	  	12401 S. Memorial Parkway	  	Huntsville	  	AL	  	35803
	 P0000159
	  	Barnhill’s Buffet, Inc.	  	Barnhill’s Buffet	  	3075 Gulf Breeze Parkway	  	Gulf Breeze	  	FL	  	32561
	 P0000160
	  	Barnhill’s Buffet, Inc.	  	Barnhill’s Buffet	  	431 Mary Esther Blvd	  	Mary Esther	  	FL	  	32569
	 P0000161
	  	Barnhill’s Buffet, Inc.	  	Barnhill’s Buffet	  	1117 Hwy 231 Bypass	  	Troy	  	AL	  	36081
	 P0000162
	  	Barnhill’s Buffet, Inc.	  	Barnhill’s Buffet	  	1701 South Texas Avenue	  	Bryan	  	TX	  	77801
	 P0000163
	  	Barnhill’s Buffet, Inc.	  	Barnhill’s Buffet	  	625 18th Avenue North	  	Columbus	  	MS	  	39701
	 P0000164
	  	Barnhill’s Buffet, Inc.	  	Barnhill’s Buffet	  	2167 E. Silver Springs Blvd	  	Ocala	  	FL	  	34470
	 P0000165
	  	Barnhill’s Buffet, Inc.	  	Barnhill’s Buffet	  	3814 University Boulevard West	  	Jacksonville	  	FL	  	32217
	 P0000166
	  	Barnhill’s Buffet, Inc.	  	Barnhill’s Buffet	  	2611 US 27 North	  	Sebring	  	FL	  	33872
	 P0000167
	  	Barnhill’s Buffet, Inc.	  	Barnhill’s Buffet	  	100 Live Oaks Boulevard	  	Casselberry	  	FL	  	32707
	 P0000172
	  	Hastings Entertainment, Inc.	  	Hastings	  	726 10th Avenue South	  	Great Falls	  	MT	  	59401
	 P0000177
	  	AMC Entertainment, Inc.	  	AMC Theatre	  	2515 E. Camelback Road	  	Phoenix	  	AZ	  	85016
	 P0000178
	  	Pike Holding Plane Nursery
LLC	  	Pike Plane Nursery	  	5795 State Bridge Road	  	Alpharetta	  	GA	  	30022
	 P0000179
	  	Pike Holding Plane Nursery
LLC	  	Pike Plane Nursery	  	3431 Ernest W. Barrett Pkwy	  	Marietta	  	GA	  	30064
	 P0000180
	  	Pike Holding Plane Nursery
LLC	  	Pike Plane Nursery	  	3985 Holly Springs Pkwy	  	Canton	  	GA	  	30115
	 P0000181
	  	Pike Holding Plane Nursery
LLC	  	Pike Plane Nursery	  	4020 Roswell Road	  	Atlanta	  	GA	  	30342
	 P0000182
	  	Pike Holding Plane Nursery
LLC	  	Pike Plane Nursery	  	2955 Holcomb Bridge Road	  	Alpharetta	  	GA	  	30022
	 P0000183
	  	Pike Holding Plane Nursery
LLC	  	Pike Plane Nursery	  	2900 Johnson Ferry Road	  	Marietta	  	GA	  	30062

  
 II-A-2

													
	 Property
ID
	  	 Obligor
	  	 Concept
	  	 Address
	  	 City
	  	ST	  	Zip
Code
	P0000188	  	Grand Canyon University	  	Grand Canyon University	  	3300 West Camelback Rd.	  	Phoenix	  	AZ	  	85017
	P0000300	  	NPC International, Inc.	  	Pizza Hut	  	925 N Green River Rd	  	Evansville	  	IN	  	47715-2418
	P0000301	  	NPC International, Inc.	  	Pizza Hut	  	4127 Frederica St	  	Owensboro	  	KY	  	42301-7455
	P0000302	  	NPC International, Inc.	  	Pizza Hut	  	606 N 1st St	  	Madill	  	OK	  	73446-1410
	P0000303	  	NPC International, Inc.	  	Pizza Hut	  	1000 W Maple Ave	  	Geneva	  	AL	  	36340-1638
	P0000304	  	NPC International, Inc.	  	Pizza Hut	  	715 Columbia Rd	  	Blakely	  	GA	  	31723-1423
	P0000305	  	NPC International, Inc.	  	Pizza Hut	  	1119 Paris Rd	  	Mayfield	  	KY	  	42066-4988
	P0000306	  	Skyline Chili, Inc.	  	Skyline Chili	  	2805 Centre Dr	  	Fairborn	  	OH	  	45324-2670
	P0000309	  	Carrols Corporation	  	Burger King	  	349 Tryon Rd	  	Raleigh	  	NC	  	27603-3529
	P0000310	  	Carrols Corporation	  	Burger King	  	979 US Highway 70 E	  	New Bern	  	NC	  	28560-6535
	P0000311	  	Carrols Corporation	  	Burger King	  	1294 Canton Rd	  	Akron	  	OH	  	44312-3951
	P0000312	  	Carrols Corporation	  	Burger King	  	14834 State Route 49	  	Edon	  	OH	  	43518-9714
	P0000313	  	Max & Erma’s Restaurants, Inc.	  	Max & Erma’s	  	201 Bridewell Dr	  	Burr Ridge	  	IL	  	60521-0834
	P0000314	  	Max & Erma’s Restaurants, Inc.	  	Max & Erma’s	  	2240 N Canton Center Rd	  	Canton	  	MI	  	48187-2906
	P0000315	  	Max & Erma’s Restaurants, Inc.	  	Max & Erma’s	  	936 Sheraton Dr	  	Mars	  	PA	  	16046-9414
	P0000316	  	Max & Erma’s Restaurants, Inc.	  	Max & Erma’s	  	8901 Kingsridge Dr	  	Dayton	  	OH	  	45458-1621
	P0000317	  	Max & Erma’s Restaurants, Inc.	  	Max & Erma’s	  	6420 Grand Ave	  	Gurnee	  	IL	  	60031-1620
	P0000318	  	Max & Erma’s Restaurants, Inc.	  	Max & Erma’s	  	130 Andrews Dr	  	Pittsburgh	  	PA	  	15275-1200
	P0000319	  	Interfoods of America, Inc.	  	Popeye’s	  	1727 Finley Blvd	  	Birmingham	  	AL	  	35204-1736
	P0000323	  	Casa Ole’ Restaurants	  	Casa Mexico	  	1459 S Vinnell Way	  	Boise	  	ID	  	83709-1659
	P0000324	  	Banyan, Inc.	  	Grandy’s	  	1400 Juan Tabo Blvd NE	  	Albuquerque	  	NM	  	87112-4406
	P0000326	  	Interfoods of America, Inc.	  	Popeye’s	  	11413 Reulet Ave	  	Baton Rouge	  	LA	  	70816-8525
	P0000327	  	Burger King Corporation	  	Burger King	  	488 E Main St	  	Apopka	  	FL	  	32703-5374
	P0000328	  	Burger King Corporation	  	Burger King	  	2400 13th St	  	Saint Cloud	  	FL	  	34769-4136
	P0000329	  	Burger King Corporation	  	Burger King	  	11834 E Colonial Dr	  	Orlando	  	FL	  	32826-4701
	P0000330	  	R & L Foods, LLC	  	Wendy’s	  	2983 Cottingham Expy	  	Pineville	  	LA	  	71360-4389

  
 II-A-3

													
	 Property
ID
	  	 Obligor
	  	 Concept
	  	Address	  	City	  	ST	  	Zip
Code
							
	P0000331	  	Southeast Food Services Company, LLC	  	Wendy’s	  	1219 Oak Ridge Tpke	  	Oak Ridge	  	TN	  	37830-6404
							
	P0000332	  	Southeast Food Services Company, LLC	  	Wendy’s	  	2544 Decatur Pike	  	Athens	  	TN	  	37303-4929
							
	P0000335	  	ARG Enterprises	  	Black Angus	  	7606 W Bell Rd	  	Glendale	  	AZ	  	85308-8619
							
	P0000336	  	Thomas & Thomas Investments	  	Whataburger	  	Loop 323 N of Highway 31	  	Tyler	  	TX	  	
							
	P0000338	  	Tacala, L.L.C.	  	Taco Bell	  	2303 Dayton Blvd	  	Red Bank	  	TN	  	37415-6224
							
	P0000349	  	Skyline Chili, Inc.	  	Skyline Chili	  	9135 Owenfield Dr	  	Lewis Center	  	OH	  	43035-9149
							
	P0000350	  	Interfoods of America, Inc.	  	Popeye’s	  	361 Palisades Blvd	  	Birmingham	  	AL	  	35209-5149
							
	P0000351	  	Interfoods of America, Inc.	  	Popeye’s	  	2265 Oneal Ln	  	Baton Rouge	  	LA	  	70816-3319
							
	P0000354	  	Fuddruckers, Inc.	  	Fuddruckers	  	10050 State St	  	Sandy	  	UT	  	84070
							
	P0000355	  	Fuddruckers, Inc.	  	Fuddruckers	  	1915 Scenic Hwy N	  	Snellville	  	GA	  	30078
							
	P0000356	  	Fuddruckers, Inc.	  	Fuddruckers	  	5271 E Main St	  	Columbus	  	OH	  	43213
							
	P0000357	  	Fuddruckers, Inc.	  	Fuddruckers	  	6607 N IH 35	  	Austin	  	TX	  	78752
							
	P0000358	  	Fuddruckers, Inc.	  	Fuddruckers	  	3586 W Dublin Granville Rd	  	Columbus	  	OH	  	43235
							
	P0000359	  	Fuddruckers, Inc.	  	Fuddruckers	  	14035 E Evans Ave	  	Aurora	  	CO	  	80014
							
	P0000360	  	Fuddruckers, Inc.	  	Fuddruckers	  	3929 Southwest Fwy	  	Houston	  	TX	  	77027
							
	P0000361	  	Fuddruckers, Inc.	  	Fuddruckers	  	11825 Technology Dr	  	Eden Prairie	  	MN	  	55344
							
	P0000362	  	Fuddruckers, Inc.	  	Fuddruckers	  	6455 E Southern Ave	  	Mesa	  	AZ	  	85206
							
	P0000363	  	Fuddruckers, Inc.	  	Fuddruckers	  	14500 Weaver Lake Rd	  	Maple Grove	  	MN	  	55311
							
	P0000364	  	Fuddruckers, Inc.	  	Fuddruckers	  	121 E Campus View Blvd	  	Columbus	  	OH	  	43235
							
	P0000365	  	Fuddruckers, Inc.	  	Fuddruckers	  	7250 Highway 6 N	  	Houston	  	TX	  	77095
							
	P0000366	  	Fuddruckers, Inc.	  	Fuddruckers	  	3560 Fishinger Blvd	  	Hilliard	  	OH	  	43026
							
	P0000367	  	Fuddruckers, Inc.	  	Fuddruckers	  	13010 Northwest Fwy	  	Houston	  	TX	  	77040
							
	P0000368	  	Fuddruckers, Inc.	  	Fuddruckers	  	101 Regal Way	  	Newport News	  	VA	  	23602
							
	P0000369	  	Fuddruckers, Inc.	  	Fuddruckers	  	7800 W Bell Rd	  	Glendale	  	AZ	  	85308
							
	P0000370	  	Fuddruckers, Inc.	  	Fuddruckers	  	9996 Escort Dr	  	Mason	  	OH	  	45040
							
	P0000371	  	Fuddruckers, Inc.	  	Fuddruckers	  	8955 Springbrook Dr NW	  	Coon Rapids	  	MN	  	55433
							
	P0000372	  	Fuddruckers, Inc.	  	Fuddruckers	  	1105 Merchants Way	  	Chesapeake	  	VA	  	23320
							
	P0000373	  	Fuddruckers, Inc.	  	Fuddruckers	  	11992 Chase Plz	  	Cincinnati	  	OH	  	45240

  
 II-A-4

													
	 Property
ID
	  	 Obligor
	  	Concept	  	Address	  	City	  	ST	  	Zip
Code
							
	P0000374	  	Fuddruckers, Inc.	  	Fuddruckers	  	10500 Town and Country Way	  	Houston	  	TX	  	77024
							
	P0000375	  	Fuddruckers, Inc.	  	Fuddruckers	  	4360 Kingwood Dr	  	Kingwood	  	TX	  	77339
							
	P0000378	  	Interfoods of America, Inc.	  	Popeye’s	  	8194 Plank Road	  	Baton Rouge	  	LA	  	70811
							
	P0000379	  	Southeast Food Services Company, LLC	  	Wendy’s	  	8749 Campo Road	  	La Mesa	  	CA	  	91941
							
	P0000380	  	Interfoods of America, Inc.	  	Popeye’s	  	3411 N Pace Blvd	  	Pensacola	  	FL	  	32505-5127
							
	P0000381	  	NPC International, Inc.	  	Pizza Hut	  	1551 W Main St	  	Salem	  	IL	  	62881-3805
							
	P0000382	  	Dickinson Theatres, Inc.	  	Dickinson Theaters	  	4900 NE 80th Street	  	Kansas City	  	MO	  	64119
							
	P0000383	  	Dickinson Theatres, Inc.	  	Dickinson Theaters	  	1451 NE Douglas Street	  	Lees Summit	  	MO	  	64086
							
	P0000384	  	Hastings Entertainment, Inc.	  	Hastings	  	1705 North Main Street	  	Roswell	  	NM	  	88201
							
	P0000385	  	Allwell	  	Golden Corral	  	616 So. Ridge Road Circle	  	Wichita	  	KS	  	67209
							
	P0000386	  	Allwell	  	Golden Corral	  	2830 W. 18th Avenue	  	Emporia	  	KS	  	66801
							
	P0000387	  	Ferrellgas, L.P	  	Blue Rhino	  	300 County Road 448	  	Tavares	  	FL	  	32778
							
	P0000390	  	Famous Dave’s of America	  	Famous Dave’s	  	14200 60th St N	  	Stillwater	  	MN	  	55082-6309
							
	P0000391	  	Famous Dave’s of America	  	Famous Dave’s	  	7825 Vinewood Ln	  	Maple Grove	  	MN	  	55369-7013
							
	P0000392	  	Famous Dave’s of America	  	Famous Dave’s	  	7593 147th St W	  	Apple Valley	  	MN	  	55124-6998
							
	P0000393	  	Friendly’s Ice Cream Corporation	  	Friendly’s Ice Cream	  	90 N Genesee St	  	Utica	  	NY	  	13502-2527
							
	P0000394	  	Friendly’s Ice Cream Corporation	  	Friendly’s Ice Cream	  	600 Mountain View Dr	  	Colchester	  	VT	  	05446-1901
							
	P0000395	  	Friendly’s Ice Cream Corporation	  	Friendly’s Ice Cream	  	697 Troy Schenectady Rd	  	Colonie	  	NY	  	12110-2501
							
	P0000396	  	Friendly’s Ice Cream Corporation	  	Friendly’s Ice Cream	  	632 Bloomfield Ave	  	West Caldwell	  	NJ	  	07006-7518
							
	P0000397	  	Friendly’s Ice Cream Corporation	  	Friendly’s Ice Cream	  	11 Main St	  	West Harwich	  	MA	  	02671-1041
							
	P0000398	  	Friendly’s Ice Cream Corporation	  	Friendly’s Ice Cream	  	936 Walnut Bottom Rd	  	Carlisle	  	PA	  	17013-9177
							
	P0000399	  	Interfoods of America, Inc.	  	Popeye’s	  	5534 NW 7th Ave	  	Miami	  	FL	  	33127-1402
							
	P0000400	  	Interfoods of America, Inc.	  	Popeye’s	  	233 W Hillsboro Blvd	  	Deerfield Beach	  	FL	  	33441-3311

  
 II-A-5

													
	 Property
ID
	  	 Obligor
	  	Concept	  	 Address
	  	City	  	ST	  	Zip
Code
							
	P0000401	  	Interfoods of America, Inc.	  	Popeye’s	  	3291 W Broward Blvd	  	Fort Lauderdale	  	FL	  	33312-1112
							
	P0000402	  	Interfoods of America, Inc.	  	Popeye’s	  	14620 Plank Rd	  	Baker	  	LA	  	70714-5445
							
	P0000403	  	Interfoods of America, Inc.	  	Popeye’s	  	1940 Main St	  	Baker	  	LA	  	70714-2843
							
	P0000404	  	Interfoods of America, Inc.	  	Popeye’s	  	5946 Airline Hwy	  	Baton Rouge	  	LA	  	70805-3201
							
	P0000405	  	Interfoods of America, Inc.	  	Popeye’s	  	290 Lobdell Hwy	  	Port Allen	  	LA	  	70767-4198
							
	P0000406	  	Interfoods of America, Inc.	  	Popeye’s	  	107 S 25th St	  	Fort Pierce	  	FL	  	34947-3602
							
	P0000408	  	Interfoods of America, Inc.	  	Popeye’s	  	9854 Halls Ferry Rd	  	Saint Louis	  	MO	  	63136-4017
							
	P0000409	  	Interfoods of America, Inc.	  	Popeye’s	  	8654 Natural Bridge Rd	  	Saint Louis	  	MO	  	63121-4110
							
	P0000410	  	Interfoods of America, Inc.	  	Popeye’s	  	2877 Target Dr	  	Saint Louis	  	MO	  	63136-4639
							
	P0000411	  	Interfoods of America, Inc.	  	Popeye’s	  	9376 Greenwell Springs Rd	  	Baton Rouge	  	LA	  	70814-2909
							
	P0000412	  	Interfoods of America, Inc.	  	Popeye’s	  	2200 S Range Ave	  	Denham Springs	  	LA	  	70726-5214
							
	P0000415	  	1st University Credit Union	  	Other	  	605 S University Parks Dr	  	Waco	  	TX	  	76706-1053
							
	P0000416	  	Barnhill’s Buffet, Inc.	  	Barnhill’s Buffet	  	325 S Mcgee Ave	  	Apopka	  	FL	  	32703-4479
							
	P0000417	  	Barnhill’s Buffet, Inc.	  	Barnhill’s Buffet	  	1070 S Volusia Ave	  	Orange City	  	FL	  	32763-7039
							
	P0000418	  	Barnhill’s Buffet, Inc.	  	Barnhill’s Buffet	  	6706 highway 63	  	Moss Point	  	MS	  	39563-9539
							
	P0000419	  	Barnhill’s Buffet, Inc.	  	Barnhill’s Buffet	  	12475 Highway 49	  	Gulfport	  	MS	  	39503-2785
							
	P0000420	  	Checker’s Drive-In Restaurants	  	Rally’s	  	3979 W Tennessee St	  	Tallahassee	  	FL	  	32304-1015
							
	P0000421	  	Checker’s Drive-In Restaurants	  	Rally’s	  	401 Vincennes Ave	  	New Albany	  	IN	  	47150-3053
							
	P0000424	  	Checker’s Drive-In Restaurants	  	Rally’s	  	7843 US Highway 42	  	Florence	  	KY	  	41042-1803
							
	P0000425	  	Checker’s Drive-In Restaurants	  	Rally’s	  	1709 N Galvez St	  	New Orleans	  	LA	  	70119-1602
							
	P0000426	  	Checker’s Drive-In Restaurants	  	Rally’s	  	2371 Saint Claude Ave	  	New Orleans	  	LA	  	70117-8352
							
	P0000428	  	Checker’s Drive-In Restaurants	  	Rally’s	  	602 N. Baldwin Avenue	  	Marion	  	IN	  	46952-3462
							
	P0000429	  	Goldco, Inc.	  	Burger King	  	1400 W Jefferson St	  	Quincy	  	FL	  	32351-2130
							
	P0000431	  	Max & Erma’s Restaurants, Inc.	  	Max & Erma’s	  	1275 E Dublin Granville Rd	  	Columbus	  	OH	  	43229-3359
							
	P0000432	  	Max & Erma’s Restaurants, Inc.	  	Max & Erma’s	  	1391 Arrowhead Dr	  	Maumee	  	OH	  	43537-1729
							
	P0000433	  	Max & Erma’s Restaurants, Inc.	  	Max & Erma’s	  	4279 Cemetery Rd	  	Hilliard	  	OH	  	43026-1203
							
	P0000434	  	QK, Inc.	  	Denny’s	  	17053 E Shea Blvd	  	Fountain Hills	  	AZ	  	85268-6635

  

  
 II-A-6

													
	 Property
ID
	  	 Obligor
	  	Concept	  	Address	  	City	  	ST	  	Zip
Code
							
	P0000436	  	RTM Restaurant Group	  	Arby’s	  	1375 N Main St	  	Madisonville	  	KY	  	42431-1283
							
	P0000437	  	RTM Restaurant Group	  	Arby’s	  	163 Altama Connector Blvd	  	Brunswick	  	GA	  	31525-1881
							
	P0000438	  	RTM Restaurant Group	  	Arby’s	  	450 E State Rd	  	American Fork	  	UT	  	84003-2559
							
	P0000439	  	RTM Restaurant Group	  	Arby’s	  	251 S Main St	  	Tooele	  	UT	  	84074-2743
							
	P0000440	  	RTM Restaurant Group	  	Arby’s	  	2501 Mayport Rd	  	Jacksonville	  	FL	  	32233-2801
							
	P0000442	  	RTM Restaurant Group	  	Arby’s	  	1116 Highway 81 W	  	McDonough	  	GA	  	30253-6423
							
	P0000443	  	RTM Restaurant Group	  	Arby’s	  	403 Tri County Plz	  	Cumming	  	GA	  	30040-2777
							
	P0000446	  	RTM Restaurant Group	  	Arby’s	  	181 Highway 90	  	Daphne	  	AL	  	36526-9588
							
	P0000449	  	RTM Restaurant Group	  	Arby’s	  	7750 Airport Blvd	  	Mobile	  	AL	  	36608-5025
							
	P0000450	  	RTM Restaurant Group	  	Arby’s	  	7002 Georgetown Rd	  	Indianapolis	  	IN	  	46268-4445
							
	P0000451	  	RTM Restaurant Group	  	Arby’s	  	11190 Beach Blvd	  	Jacksonville	  	FL	  	32246-4804
							
	P0000453	  	RTM Restaurant Group	  	Arby’s	  	9361 Atlantic Blvd	  	Jacksonville	  	FL	  	32225-8218
							
	P0000454	  	RTM Restaurant Group	  	Arby’s	  	622 Fair Rd	  	Statesboro	  	GA	  	30458-4927
							
	P0000455	  	RTM Restaurant Group	  	Arby’s	  	514 N Highway 52	  	Moncks Corner	  	SC	  	29461-3131
							
	P0000456	  	Interfoods of America, Inc.	  	Popeye’s	  	5275 Government St	  	Baton Rouge	  	LA	  	70806-6027
							
	P0000457	  	Interfoods of America, Inc.	  	Popeye’s	  	2137 Staring Ln	  	Baton Rouge	  	LA	  	70810-1038
							
	P0000459	  	Interfoods of America, Inc.	  	Popeye’s	  	2490 NW 79th St	  	Miami	  	FL	  	33147-4930
							
	P0000461	  	Gander Mountain Company	  	Gander Mountain	  	6801 120th Avenue	  	Kenosha	  	WI	  	53140
							
	P0000462	  	Carmike Cinemas, Inc.	  	Carmike Cinemas	  	2435 Edgewood Road SW	  	Cedar Rapids	  	IA	  	52404
							
	P0000463	  	Humperdink’s Texas, LLC	  	Humperdink	  	3820 Belt Line Road	  	Addison	  	TX	  	75001
							
	P0000464	  	Humperdink’s Texas, LLC	  	Humperdink	  	6050 Greenville Ave.	  	Dallas	  	TX	  	75206
							
	P0000465	  	Humperdink’s Texas, LLC	  	Humperdink	  	2208 W. NW Hwy.	  	Dallas	  	TX	  	75220
							
	P0000466	  	Humperdink’s Texas, LLC	  	Humperdink	  	700 Six Flags Drive	  	Arlington	  	TX	  	76011
							
	P0000467	  	Taco Bueno Restaurants, Inc.	  	Taco Bueno	  	1601 Garth Brooks Blvd	  	Yukon	  	OK	  	73099
							
	P0000468	  	Taco Bueno Restaurants, Inc.	  	Taco Bueno	  	2416 S. Georgia Street	  	Amarillo	  	TX	  	79109
							
	P0000469	  	Taco Bueno Restaurants, Inc.	  	Taco Bueno	  	3124 Regency Lane	  	Denison	  	TX	  	75020
							
	P0000470	  	Taco Bueno Restaurants, Inc.	  	Taco Bueno	  	2520 82nd Street	  	Lubbock	  	TX	  	79423

  
 II-A-7

													
	 Property
ID
	  	Obligor	 	Concept	  	Address	  	City	  	ST	  	Zip
Code
	 P0000471
	  	Gander Mountain Company	 	Gander Mountain	  	8635 Clinton Street	  	New Hartford	  	NY	  	13413
	 P0000473
	  	Dave & Buster’s, Inc.	 	Dave & Buster’s	  	2215 D & B Drive	  	Marietta	  	GA	  	30067
	 P0000476
	  	Hill Country Furniture
Partners, Ltd.	 	Ashley Furniture	  	7903 Pat Booker Road	  	Live Oak	  	TX	  	78223
	 P0000477
	  	RBLS, Inc. (a Texas
corporation)	 	Ashley Furniture	  	1411 Airway Boulevard	  	El Paso	  	TX	  	79925
	 P0000478
	  	Gander Mountain Company	 	Gander Mountain	  	5038-A Miller Road	  	Flint	  	MI	  	48507
	 P0000479
	  	Ferrellgas, L.P	 	Blue Rhino	  	1750 Agua Mansa Road	  	Riverside	  	CA	  	92509
	 P0000481
	  	Gander Mountain Company	 	Gander Mountain	  	2121 43rd St., SW	  	Fargo	  	ND	  	58103
	 P0000482
	  	Sonic Corp.	 	Sonic	  	202 N Main Ave	  	Erwin	  	TN	  	37650
	 P0000483
	  	Sonic Corp.	 	Sonic	  	3307 No. Broadway St.	  	Knoxville	  	TN	  	37918
	 P0000484
	  	Sonic Corp.	 	Sonic	  	113 1st St.	  	Radford	  	VA	  	24141
	 P0000533
	  	Sonic Corp.	 	Sonic	  	355 No. Franklin St.	  	Christiansburg	  	VA	  	24073
	 P0000534
	  	Sonic Corp.	 	Sonic	  	647 E. Main St.	  	Pulaski	  	VA	  	24301
	 P0000535
	  	Sonic Corp.	 	Sonic	  	790 E. Main St.	  	Wytheville	  	VA	  	24382
	 P0000536
	  	Sonic Corp.	 	Sonic	  	2010 E. Broadway Ave.	  	Maryville	  	TN	  	37804
	 P0000537
	  	Sonic Corp.	 	Sonic	  	411 Foothills Mall Drive	  	Maryville	  	TN	  	37801
	 P0000538
	  	Sonic Corp.	 	Sonic	  	608 Oak Ridge Turnpike	  	Oak Ridge	  	TN	  	37830
	 P0000539
	  	Sonic Corp.	 	Sonic	  	1124 E. Stone Dr.	  	Kingsport	  	TN	  	37660
	 P0000540
	  	Sonic Corp.	 	Sonic	  	104 Cedar Lane	  	Knoxville	  	TN	  	37912
	 P0000541
	  	Sonic Corp.	 	Sonic	  	6949 Maynardsville Pike	  	Knoxville	  	TN	  	39912
	 P0000542
	  	Sonic Corp.	 	Sonic	  	1015 Volunteer Parkway	  	Bristol	  	TN	  	37625
	 P0000543
	  	Sonic Corp.	 	Sonic	  	1108 No. Charles G.
Seivers Blvd.	  	Clinton	  	TN	  	37716
	 P0000545
	  	Dickinson Theatres, Inc.	 	Dickinson Theaters	  	10301 So. Memorial Drive	  	Bixby	  	OK	  	74133
	 P0000551
	  	Gander Mountain Company	 	Gander Mountain	  	5864 Carmenica Drive	  	Cicero	  	NY	  	13039
	 P0000552
	  	Rite Aid Corporation	 	Rite Aid	  	3601 Midvale Avenue	  	Philadelphia	  	PA	  	19129
	 P0000553
	  	Rite Aid Corporation	 	Rite Aid	  	120 Jefferson Avenue	  	Moundsville	  	WV	  	26041
	 P0000554
	  	Rite Aid Corporation	 	Rite Aid	  	104 Genesee Street	  	Oneida	  	NY	  	13421
	 P0000556
	  	Rite Aid Corporation	 	Rite Aid	  	735 North Water Street	  	Uhrichsville	  	OH	  	44683

  
 II-A-8

													
	 Property
ID
	  	Obligor	  	Concept	  	Address	  	City	  	ST	  	Zip
Code
	 P0000559
	  	Rite Aid Corporation	  	Rite Aid	  	1410 Delaware Avenue	  	Buffalo	  	NY	  	14209
	 P0000560
	  	Rite Aid Corporation	  	Rite Aid	  	804 East Winthrop Avenue	  	Millen	  	GA	  	30442
	 P0000561
	  	Rite Aid Corporation	  	Rite Aid	  	301 South Broad Street	  	Thomasville	  	GA	  	31792
	 P0000566
	  	Sonic Corp.	  	Sonic	  	1003 W Elk Avenue	  	Elizabethton	  	TN	  	37643
	 P0000596
	  	Flying Star Cafe	  	Flying Star Café	  	8001 Menaul Blvd NE	  	Albuquerque	  	NM	  	87110
	 P0000597
	  	Flying Star Cafe	  	Flying Star Café	  	4501 Juan Tabo Blvd NE	  	Albuquerque	  	NM	  	87111
	 P0000634
	  	Hughes Supply, Inc.	  	Hughes Supply	  	8700 Hwy 27 S	  	Sebring	  	FL	  	33876
	 P0000844
	  	Hughes Supply, Inc.	  	Hughes Supply	  	914 Chris Drive	  	West Columbia	  	SC	  	29169
	 P0000845
	  	Hughes Supply, Inc.	  	Hughes Supply	  	990 Pedigo Way	  	Bowling Green	  	KY	  	42103
	 P0000637
	  	Hughes Supply, Inc.	  	Hughes Supply	  	8326 Lemon Rd	  	Port Richey	  	FL	  	34668
	 P0000848
	  	Hughes Supply, Inc.	  	Hughes Supply	  	850 E Pine Log Rd	  	Aiken	  	SC	  	29803
	 P0000849
	  	Hughes Supply, Inc.	  	Hughes Supply	  	856 Henri DeTonti Blvd	  	Tontitown	  	AR	  	72770
	 P0000640
	  	Hughes Supply, Inc.	  	Hughes Supply	  	6854 Distribution Ave S	  	Jacksonville	  	FL	  	32256
	 P0000850
	  	Hughes Supply, Inc.	  	Hughes Supply	  	7281 East 30th Street	  	Indianapolis	  	IN	  	46219
	 P0000642
	  	Hughes Supply, Inc.	  	Hughes Supply	  	8091 Supply Drive	  	Fort Myers	  	FL	  	33912
	 P0000851
	  	Hughes Supply, Inc.	  	Hughes Supply	  	5905 Old Rutledge Pike	  	Knoxville	  	TN	  	37924
	 P0000644
	  	Hughes Supply, Inc.	  	Hughes Supply	  	6231 Idlewild Street	  	Fort Myers	  	FL	  	33912
	 P0000852
	  	Hughes Supply, Inc.	  	Hughes Supply	  	6501 Amsterdam Way	  	Wilmington	  	NC	  	28405
	 P0000646
	  	Hughes Supply, Inc.	  	Hughes Supply	  	4355 Drane Field Rd	  	Lakeland	  	FL	  	33811
	 P0000647
	  	Hughes Supply, Inc.	  	Hughes Supply	  	5311 Doolittle Rd	  	Jacksonville	  	FL	  	32254
	 P0000648
	  	Hughes Supply, Inc.	  	Hughes Supply	  	5409-100 Broadway Ave	  	Jacksonville	  	FL	  	32254
	 P0000649
	  	Hughes Supply, Inc.	  	Hughes Supply	  	341 Gees Mill Bus Pkwy	  	Conyers	  	GA	  	30013
	 P0000650
	  	Hughes Supply, Inc.	  	Hughes Supply	  	3509 N Loop 336 W	  	Conroe	  	TX	  	77304
	 P0000854
	  	Hughes Supply, Inc.	  	Hughes Supply	  	4339 White Lick Dr	  	Whitestown	  	IN	  	46075
	 P0000855
	  	Hughes Supply, Inc.	  	Hughes Supply	  	238 Hurricane Shoals Rd	  	Lawrenceville	  	GA	  	30045
	 P0000856
	  	Hughes Supply, Inc.	  	Hughes Supply	  	2820 Mary Linda Ave NE	  	Roanoke	  	VA	  	24012

  

  
 II-A-9

													
	 Property
ID
	  	Obligor	  	Concept	  	Address	  	City	  	ST	  	Zip
Code
	 P0000857
	  	Hughes Supply, Inc.	  	Hughes Supply	  	315 9th Street SE	  	Hickory	  	NC	  	28602
	 P0000655
	  	Hughes Supply, Inc.	  	Hughes Supply	  	2007 NW 15th Ave	  	Pompano Beach	  	FL	  	33069
	 P0000858
	  	Hughes Supply, Inc.	  	Hughes Supply	  	2208 S 14th Street	  	Mattoon	  	IL	  	61938
	 P0000859
	  	Hughes Supply, Inc.	  	Hughes Supply	  	229 N St. Augustine Rd	  	Valdosta	  	GA	  	31601
	 P0000658
	  	Hughes Supply, Inc.	  	Hughes Supply	  	1751 L Avenue	  	Riviera Beach	  	FL	  	33401
	 P0000860
	  	Hughes Supply, Inc.	  	Hughes Supply	  	1840 Shelton Ave	  	Stateville	  	NC	  	28677
	 P0000861
	  	Hughes Supply, Inc.	  	Hughes Supply	  	1930 31st Street	  	Gulfport	  	MS	  	39501
	 P0000862
	  	Hughes Supply, Inc.	  	Hughes Supply	  	1234 S Pleasantburg Dr	  	Greenville	  	SC	  	29605
	 P0000863
	  	Hughes Supply, Inc.	  	Hughes Supply	  	1430 N Chase St	  	Athens	  	GA	  	30601
	 P0000864
	  	Hughes Supply, Inc.	  	Hughes Supply	  	1705 River Street	  	Valdosta	  	GA	  	31601
	 P0000865
	  	Hughes Supply, Inc.	  	Hughes Supply	  	1118 Interstate Blvd	  	Florence	  	SC	  	29501
	 P0000866
	  	Hughes Supply, Inc.	  	Hughes Supply	  	117 Industrial Circle	  	Martinsburg	  	WV	  	25401
	 P0000867
	  	Hughes Supply, Inc.	  	Hughes Supply	  	1215 N Bradley Rd	  	Spokane	  	WA	  	99212
	 P0000868
	  	Hughes Supply, Inc.	  	Hughes Supply	  	1065 Sunset Blvd	  	West Columbia	  	SC	  	29169
	 P0000869
	  	Hughes Supply, Inc.	  	Hughes Supply	  	1069 Canton Rd	  	Marietta	  	GA	  	30066
	 P0000870
	  	Hughes Supply, Inc.	  	Hughes Supply	  	1070 S Highland Ave	  	Jackson	  	TN	  	38301
	 P0000871
	  	Hughes Supply, Inc.	  	Hughes Supply	  	100 Tandem Dr	  	Greer	  	SC	  	29650
	 P0000846
	  	Hughes Supply, Inc.	  	Hughes Supply	  	103 Industrial Drive	  	Hattiesburg	  	MS	  	39401
	 P0000847
	  	Hughes Supply, Inc.	  	Hughes Supply	  	10645 Auto Mall Pkwy	  	D’lberville	  	MS	  	39540
	 P0000673
	  	RTM Restaurant Group	  	Arby’s	  	5660 Beach Boulevard	  	Jacksonville	  	FL	  	32207
	 P0000675
	  	RTM Restaurant Group	  	Arby’s	  	2600 S Orange Ave	  	Orlando	  	FL	  	32806
	 P0000676
	  	RTM Restaurant Group	  	Arby’s	  	1305 Tuskawilla Rd	  	Winter Springs	  	FL	  	32708
	 P0000677
	  	RTM Restaurant Group	  	Arby’s	  	2649 Richmond Road	  	Lexington	  	KY	  	40509
	 P0000678
	  	RTM Restaurant Group	  	Arby’s	  	4170 Shelbyville Rd	  	Louisville	  	KY	  	40207
	 P0000679
	  	RTM Restaurant Group	  	Arby’s	  	16005 US Highway 441	  	Eustis	  	FL	  	32726
	 P0000680
	  	Casa Ole’ Restaurants	  	Casa Ole	  	5705 4th St	  	Lubbock	  	TX	  	79416
	 P0000681
	  	Casa Ole’ Restaurants	  	Casa Ole	  	1520 Southmore Ave	  	Pasadena	  	TX	  	77502

  
 II-A-10

													
	Property
ID	  	 Obligor
	  	 Concept
	  	 Address
	  	 City
	  	ST	  	 Zip
Code

	P0000682	  	Casa Ole’ Restaurants	  	Casa Ole	  	2726 Spencer Hwy	  	Pasadena	  	TX	  	77504
	P0000683	  	Casa Ole’ Restaurants	  	Casa Ole	  	2730 East Highway 190	  	Copperas Cove	  	TX	  	76522
	P0000685	  	Casa Ole’ Restaurants	  	Garibaldi’s	  	525 Caldwell Blvd	  	Nampa	  	ID	  	83651
	P0000687	  	Casa Ole’ Restaurants	  	Monterey’s Tex Mex	  	410 S. Gordon St	  	Alvin	  	TX	  	77511
	P0000688	  	Casa Ole’ Restaurants	  	Monterey’s Tex Mex	  	12520 Greenspoint Dr	  	Houston	  	TX	  	77060
	P0000689	  	Casa Ole’ Restaurants	  	Monterey’s Tex Mex	  	3201 Freedom Blvd	  	Bryan	  	TX	  	77802
	P0000691	  	Casa Ole’ Restaurants	  	Monterey’s Tex Mex	  	5694 W Skelly Dr	  	Tulsa	  	OK	  	74107
	P0000692	  	RTM Restaurant Group	  	Arby’s	  	1228 South Broadway Street	  	Lexington	  	KY	  	40504-2738
	P0000693	  	Rite Aid Corporation	  	Rite Aid	  	5601 Chestnut Street	  	Philadelphia	  	PA	  	19139
	P0000694	  	Sportsman’s Warehouse	  	Sportsman’s Warehouse	  	1551 Lawrence Drive	  	DePere	  	WI	  	54115
	P0000696	  	Apollo College	  	Apollo Colleges	  	630 W. Southern Ave	  	Mesa	  	AZ	  	85210
	P0000697	  	Apollo College	  	Apollo Colleges	  	3550 N. Oracle Road	  	Tucson	  	AZ	  	85704
	P0000698	  	Apollo College	  	Apollo Colleges	  	2701 W. Bethany Home Road	  	Phoenix	  	AZ	  	85017
	P0000699	  	Apollo College	  	Apollo Colleges	  	8503 N. 27th Avenue	  	Phoenix	  	AZ	  	85051
	P0000705	  	Pilgrim’s Pride Corporation	  	Pilgrim’s Pride Freezer
Warehouse Facility	  	3330 Woodrow Wilson Drive	  	Jackson	  	MS	  	39209
	P0000706	  	Stonebrook Properties LLC	  	Golden Corral	  	1300 South Morgan	  	Granbury	  	TX	  	76048
	P0000707	  	Corral of Michigan LLC	  	Golden Corral	  	37101 Warren Road	  	Westland	  	MI	  	48185
	P0000708	  	Pizza Properties, Ltd	  	Peter Piper Pizza	  	2210 West University Drive	  	Edinburg	  	TX	  	78539
	P0000709	  	Pizza Properties, Ltd	  	Peter Piper Pizza	  	402 South Bibb Ave	  	Eagle Pass	  	TX	  	78852
	P0000710	  	Pizza Properties, Ltd	  	Peter Piper Pizza	  	4526 East Hwy 83	  	Rio Grande City	  	TX	  	78582
	P0000711	  	Pizza Properties, Ltd	  	Peter Piper Pizza	  	3101 East Expressway 83	  	Weslaco	  	TX	  	78596
	P0000730	  	HOM Furniture, Inc	  	HOM Furniture Showrooms	  	4726 Mall Drive	  	Hermantown	  	MN	  	55811
	P0000731	  	HOM Furniture, Inc.	  	HOM Furniture Showrooms	  	2921 Mall Drive	  	Eau Claire	  	WI	  	54701
	P0000732	  	Hastings Entertainment, Inc.	  	Hastings	  	200 Hwy 332 West	  	Lake Jackson	  	TX	  	77566
	P0000737	  	Pizza Properties, Ltd	  	Peter Piper Pizza	  	9450 Dyer Street	  	El Paso	  	TX	  	79924

  
 II-A-11

													
	Property
ID	  	 Obligor
	  	 Concept
	  	 Address
	  	 City
	  	ST	  	 Zip
Code

	P0000738	  	Rite Aid Corporation	  	Rite Aid	  	21500-21508 Harper Avenue	  	St. Clair Shores	  	MI	  	48081
	P0000747	  	Anvia, Inc.	  	Ashley Home Center	  	4597 Southwest Drive	  	Abilene	  	TX	  	79605
	P0000748	  	Sky Ventures, LLC	  	Pizza Hut	  	545 Hwy 9 E	  	Forest City	  	IA	  	50436
	P0000749	  	Sky Ventures, LLC	  	Pizza Hut	  	419 2nd Ave SE	  	Cresco	  	IA	  	52136
	P0000750	  	Sky Ventures, LLC	  	Pizza Hut	  	260 Carson Ave	  	Elk River	  	MN	  	55330
	P0000751	  	Sky Ventures, LLC	  	Pizza Hut	  	1325 Town Centre Dr	  	Eagan	  	MN	  	55123
	P0000752	  	Sky Ventures, LLC	  	Pizza Hut	  	964 Hwy 15 S	  	Hutchinson	  	MN	  	55350
	P0000753	  	Sky Ventures, LLC	  	Pizza Hut	  	5501 Grand Ave	  	Duluth	  	MN	  	55808
	P0000754	  	Sky Ventures, LLC	  	Pizza Hut	  	3600 N Douglas	  	Crystal	  	MN	  	55422
	P0000755	  	Sky Ventures, LLC	  	Pizza Hut	  	32 Sheridan St	  	Ely	  	MN	  	55731
	P0000756	  	Sky Ventures, LLC	  	Pizza Hut	  	701 Highway 33 S	  	Cloquet	  	MN	  	55720
	P0000757	  	Sky Ventures, LLC	  	Pizza Hut	  	1101 Hwy 25 N	  	Buffalo	  	MN	  	55313
	P0000758	  	Sky Ventures, LLC	  	Pizza Hut	  	1918 London Rd	  	Duluth	  	MN	  	55812
	P0000759	  	Sky Ventures, LLC	  	Pizza Hut	  	1725 E Main St	  	Albert Lea	  	MN	  	56007
	P0000760	  	Sky Ventures, LLC	  	Pizza Hut	  	623 Hammond Ave	  	Superior	  	WI	  	54880
	P0000761	  	Sky Ventures, LLC	  	Pizza Hut	  	3854 N Central Ave	  	Columbia Heights	  	MN	  	55421
	P0000762	  	Sky Ventures, LLC	  	Pizza Hut	  	100 N Phillips	  	Algona	  	IA	  	50511
	P0000763	  	Sky Ventures, LLC	  	Pizza Hut	  	1653 Weir Dr	  	Woodbury	  	MN	  	55125
	P0000764	  	Sky Ventures, LLC	  	Pizza Hut	  	W Hwy 18	  	Mason City	  	IA	  	50401
	P0000765	  	Sky Ventures, LLC	  	Pizza Hut	  	1211 7th Ave	  	Two Harbors	  	MN	  	55616
	P0000766	  	Sky Ventures, LLC	  	Pizza Hut	  	257 Marschall Rd	  	Shakopee	  	MN	  	55379
	P0000767	  	Sky Ventures, LLC	  	Pizza Hut	  	Hwy 18	  	Clear Lake	  	IA	  	50428
	P0000768	  	Sky Ventures, LLC	  	Pizza Hut	  	1157 S Main	  	Sauk Centre	  	MN	  	56378
	P0000769	  	Sky Ventures, LLC	  	Pizza Hut	  	15065 Canada Rd	  	Rosemount	  	MN	  	55068
	P0000770	  	Sky Ventures, LLC	  	Pizza Hut	  	1504 13th Street S	  	Virginia	  	MN	  	55792
	P0000771	  	Sky Ventures, LLC	  	Pizza Hut	  	7500 Bass Lake Rd	  	New Hope	  	MN	  	55428
	P0000772	  	Sky Ventures, LLC	  	Pizza Hut	  	1300 W Broadway	  	Minneapolis	  	MN	  	55411

  
 II-A-12

													
	Property
ID	  	 Obligor
	  	 Concept
	  	 Address
	  	 City
	  	ST	  	 Zip
Code

	P0000773	  	Sky Ventures, LLC	  	Pizza Hut	  	319 N Benton	  	Sauk Rapids	  	MN	  	56379
	P0000774	  	Sky Ventures, LLC	  	Pizza Hut	  	1685 White Bear Ave	  	Maplewood	  	MN	  	55109
	P0000775	  	Sky Ventures, LLC	  	Pizza Hut	  	17305 Kenrick Ave	  	Lakeville	  	MN	  	55044
	P0000776	  	Sky Ventures, LLC	  	Pizza Hut	  	2001 W Hwy 52	  	Rochester	  	MN	  	55901
	P0000777	  	Sky Ventures, LLC	  	Pizza Hut	  	1101 37th St East	  	Hibbing	  	MN	  	55746
	P0000778	  	Sky Ventures, LLC	  	Pizza Hut	  	806 S Pokegama	  	Grand Rapids	  	MN	  	55744
	P0000779	  	Sky Ventures, LLC	  	Pizza Hut	  	1404 E College Dr	  	Marshall	  	MN	  	56258
	P0000780	  	Falcon Holdings	  	Church’s	  	276 Park Ave W	  	Mansfield	  	OH	  	44902
	P0000781	  	Falcon Holdings	  	Church’s	  	700 S Arlington	  	Akron	  	OH	  	44306
	P0000782	  	Falcon Holdings	  	Church’s	  	1520 E Main	  	Columbus	  	OH	  	43205
	P0000783	  	Falcon Holdings	  	Church’s	  	920 N Grand Ave	  	St. Louis	  	MO	  	63106
	P0000784	  	Falcon Holdings	  	Church’s	  	4375 Refugee Rd	  	Columbus	  	OH	  	43232
	P0000785	  	Falcon Holdings	  	Church’s	  	1391 Wooster Ave	  	Akron	  	OH	  	44320
	P0000786	  	Falcon Holdings	  	Church’s	  	3525 N Grand Blvd	  	St. Louis	  	MO	  	63107
	P0000787	  	Falcon Holdings	  	Church’s	  	410 9th St NE	  	Canton	  	OH	  	44704
	P0000788	  	Falcon Holdings	  	Church’s	  	805 N Kings Hwy	  	St. Louis	  	MO	  	63108
	P0000789	  	Falcon Holdings	  	Church’s	  	7260 Manchester Rd	  	Maplewood	  	MO	  	63143
	P0000790	  	Falcon Holdings	  	Church’s	  	1211 S. Main	  	Akron	  	OH	  	44301
	P0000791	  	Falcon Holdings	  	Church’s	  	1753 Woodson Rd	  	Overland	  	MO	  	63114
	P0000792	  	Falcon Holdings	  	Church’s	  	4414 N Saginaw	  	Flint	  	MI	  	48505
	P0000793	  	Falcon Holdings	  	Church’s	  	4401 Marshall Rd	  	St. Louis	  	MO	  	63134
	P0000794	  	Falcon Holdings	  	Church’s	  	10646 New Halls Ferry	  	Ferguson	  	MO	  	63135
	P0000795	  	Falcon Holdings	  	Church’s	  	16100 Livernois	  	Detroit	  	MI	  	48221
	P0000796	  	Falcon Holdings	  	Church’s	  	7215 Natural Bridge Rd	  	Normandy	  	MO	  	63121
	P0000797	  	Falcon Holdings	  	Church’s	  	9137 W Grand River	  	Detroit	  	MI	  	48204
	P0000798	  	Falcon Holdings	  	Church’s	  	13611 West 8 Mile Rd	  	Detroit	  	MI	  	48235
	P0000799	  	Falcon Holdings	  	Church’s	  	24990 Dequindre	  	Warren	  	MI	  	48091
	P0000800	  	Falcon Holdings	  	Church’s	  	15525 Chicago Ave	  	Detroit	  	MI	  	48228
	P0000801	  	Falcon Holdings	  	Church’s	  	11501 Woodward Ave	  	Detroit	  	MI	  	48202
	P0000802	  	Falcon Holdings	  	Church’s	  	2928 E 7 Mile Rd	  	Detroit	  	MI	  	48234
	P0000803	  	Falcon Holdings	  	Church’s	  	13531 Fenkell Ave	  	Detroit	  	MI	  	48227

  
 II-A-13

													
	Property
ID	  	 Obligor
	  	 Concept
	  	 Address
	  	 City
	  	ST	  	 Zip
Code

	P0000804	  	Falcon Holdings	  	Church’s	  	4850 West 16th St	  	Indianapolis	  	IN	  	46224
	P0000805	  	Falcon Holdings	  	Church’s	  	14260 Gratiot Ave	  	Detroit	  	MI	  	48205
	P0000806	  	Falcon Holdings	  	Church’s	  	5443 East 21st St	  	Indianapolis	  	IN	  	46218
	P0000807	  	Falcon Holdings	  	Church’s	  	3860 N College Ave	  	Indianapolis	  	IN	  	46205
	P0000808	  	Falcon Holdings	  	Church’s	  	11965 E Warren Ave	  	Detroit	  	MI	  	48214
	P0000809	  	Falcon Holdings	  	Church’s	  	3970 Lafayette Rd	  	Indianapolis	  	IN	  	46254
	P0000810	  	Falcon Holdings	  	Church’s	  	5520 Caseyville Ave	  	Washington Park	  	IL	  	62204
	P0000811	  	Falcon Holdings	  	Church’s	  	5040 E 38th St	  	Indianapolis	  	IN	  	46218
	P0000812	  	Falcon Holdings	  	Church’s	  	4590 W 5th Ave	  	Gary	  	IN	  	46406
	P0000813	  	Falcon Holdings	  	Church’s	  	333 E 159th St	  	Harvey	  	IL	  	60426
	P0000814	  	Falcon Holdings	  	Church’s	  	3863 N Post Rd	  	Indianapolis	  	IN	  	46226
	P0000815	  	Falcon Holdings	  	Church’s	  	500 S Western Avenue	  	Peoria	  	IL	  	61605
	P0000816	  	Falcon Holdings	  	Church’s	  	5400-08 W. Cermak Rd	  	Cicero	  	IL	  	60650
	P0000817	  	Falcon Holdings	  	Church’s	  	3701 Grant St	  	Gary	  	IN	  	46408
	P0000818	  	Falcon Holdings	  	Church’s	  	1409 South Broadway	  	Gary	  	IN	  	46407
	P0000819	  	Falcon Holdings	  	Church’s	  	4812 W North Ave	  	Chicago	  	IL	  	60639
	P0000820	  	Falcon Holdings	  	Church’s	  	345 Collins St	  	Joliet	  	IL	  	60432
	P0000821	  	Falcon Holdings	  	Church’s	  	7102 S Stony Island Ave	  	Chicago	  	IL	  	60649
	P0000822	  	Falcon Holdings	  	Church’s	  	200 E 103rd St	  	Chicago	  	IL	  	60628
	P0000823	  	Falcon Holdings	  	Church’s	  	2601 State St	  	East St. Louis	  	IL	  	62201
	P0000824	  	Falcon Holdings	  	Church’s	  	431 N Austin Blvd	  	Chicago	  	IL	  	60644
	P0000825	  	Falcon Holdings	  	Church’s	  	101 E 35th St	  	Chicago	  	IL	  	60616
	P0000826	  	Falcon Holdings	  	Church’s	  	6600 S Halsted St	  	Chicago	  	IL	  	60621
	P0000827	  	Falcon Holdings	  	Church’s	  	1808 W 47th St	  	Chicago	  	IL	  	60609
	P0000828	  	Falcon Holdings	  	Church’s	  	1855 S Blue Island Ave	  	Chicago	  	IL	  	60608
	P0000829	  	Falcon Holdings	  	Church’s	  	2806 W Cermak Ave	  	Chicago	  	IL	  	60623

  
 II-A-14

 SCHEDULE II 
 PROPERTY EXCEPTIONS 
 (s) For the following properties, there are
continued monitoring of remediation activities: 
  

													
	 Property
 ID
	 	 Asset/Property

Name
	 	 Address
	 	 City
	 	 ST
	 	 Zip Code
	 	 Clarification/Other

Issues

							
	 P0000047
	 	 Flying J Travel

Plaza
	 	 950 State Road
 206
West
	 	 Saint

Augustine
	 	FL	 	32086	 	There is continued monitoring of remediation activities.

 (r) For the following properties, the insurance provider is not a company listed on the NYSE with an
NAIC rating of “2” or better: 
  

													
	 Property
 ID
	 	 Asset/Property
Name
	 	 Address
	 	 City
	 	 ST
	 	 Zip Code
	 	 Clarification/Other
Issues

							
	 P0000047
	 	 Flying J Travel

Plaza
	 	950 State Road 206 West	 	 Saint

Augustine
	 	FL	 	32086	 	The property and liability insurance provider, TransAssurance, Inc., is rated B+III by Best.
							
	 P0000048
	 	 Flying J Travel

Plaza
	 	 10226 Old
 Federal
Highway
	 	Carnesville	 	GA	 	30521	 	The property and liability insurance provider, TransAssurance, Inc., is rated B+III by Best.
							
	 P0000049
	 	 Flying J Travel

Plaza
	 	5300 S SR 3	 	Spiceland	 	IN	 	47385	 	The property and liability insurance provider, TransAssurance, Inc., is rated B+III by Best.
							
	 P0000050
	 	 Flying J Travel

Plaza
	 	15236 State Route 180	 	Catlettsburg	 	KY	 	41129-9211	 	The property and liability insurance provider, TransAssurance, Inc., is rated B+III by Best.

  
 II-1

 SCHEDULE III-A 
 EQUIPMENT LOANS 
  

											
	 Property ID
	  	 Concept
	  	Address	  	City	  	ST	  	Zip
	 P0000385
	  	Golden Corral	  	616 So. Ridge Road Circle	  	Wichita	  	KS	  	67209
	 P0000386
	  	Golden Corral	  	2830 W. 18th Avenue	  	Emporia	  	KS	  	66801
	 E000787
	  	Sky Ventures, LLC	  	Multiple properties	  		  		  	

 III-1 

  

 SCHEDULE III 
 EQUIPMENT LOAN EXCEPTIONS 
 None. 

  

 SCHEDULE I 

AMORTIZATION SCHEDULE 
  

					
	 Date
	  	Scheduled Series Balance	 
	7/25/2005	  	$	441,300,000	  
	8/20/2005	  	$	440,657,000	  
	9/20/2005	  	$	440,017,000	  
	10/20/2005	  	$	439,374,000	  
	11/20/2005	  	$	438,728,000	  
	12/20/2005	  	$	438,078,000	  
	1/20/2006	  	$	437,425,000	  
	2/20/2006	  	$	436,769,000	  
	3/20/2006	  	$	436,110,000	  
	4/20/2006	  	$	435,447,000	  
	5/20/2006	  	$	434,781,000	  
	6/20/2006	  	$	434,112,000	  
	7/20/2006	  	$	433,439,000	  
	8/20/2006	  	$	432,763,000	  
	9/20/2006	  	$	432,083,000	  
	10/20/2006	  	$	431,400,000	  
	11/20/2006	  	$	430,714,000	  
	12/20/2006	  	$	430,024,000	  
	1/20/2007	  	$	429,331,000	  
	2/20/2007	  	$	428,635,000	  
	3/20/2007	  	$	427,935,000	  
	4/20/2007	  	$	427,231,000	  
	5/20/2007	  	$	426,524,000	  
	6/20/2007	  	$	425,813,000	  
	7/20/2007	  	$	425,099,000	  
	8/20/2007	  	$	424,381,000	  
	9/20/2007	  	$	423,660,000	  
	10/20/2007	  	$	422,935,000	  
	11/20/2007	  	$	422,206,000	  
	12/20/2007	  	$	421,474,000	  
	1/20/2008	  	$	420,738,000	  
	2/20/2008	  	$	419,999,000	  
	3/20/2008	  	$	419,255,000	  
	4/20/2008	  	$	418,508,000	  
	5/20/2008	  	$	417,758,000	  
	6/20/2008	  	$	417,003,000	  
	7/20/2008	  	$	416,245,000	  
	8/20/2008	  	$	415,483,000	  
	9/20/2008	  	$	414,717,000	  
	10/20/2008	  	$	413,947,000	  
	11/20/2008	  	$	413,174,000	  
	12/20/2008	  	$	412,397,000	  
	1/20/2009	  	$	411,615,000	  
	2/20/2009	  	$	410,830,000	  
	3/20/2009	  	$	410,041,000	  
	4/20/2009	  	$	409,248,000	  
	5/20/2009	  	$	408,451,000	  
	6/20/2009	  	$	407,650,000	  
	7/20/2009	  	$	406,845,000	  

  

					
	 Date
	  	Scheduled Series Balance	 
	 8/20/2009
	  	$	406,036,000	  
	 9/20/2009
	  	$	405,223,000	  
	 10/20/2009
	  	$	404,406,000	  
	 11/20/2009
	  	$	403,584,000	  
	 12/20/2009
	  	$	402,759,000	  
	 1/20/2010
	  	$	401,930,000	  
	 2/20/2010
	  	$	401,096,000	  
	 3/20/2010
	  	$	400,258,000	  
	 4/20/2010
	  	$	399,416,000	  
	 5/20/2010
	  	$	398,570,000	  
	 6/20/2010
	  	$	397,720,000	  
	 7/20/2010
	  	$	396,865,000	  
	 8/20/2010
	  	$	396,006,000	  
	 9/20/2010
	  	$	395,143,000	  
	 10/20/2010
	  	$	394,275,000	  
	 11/20/2010
	  	$	393,403,000	  
	 12/20/2010
	  	$	392,527,000	  
	 1/20/2011
	  	$	391,646,000	  
	 2/20/2011
	  	$	390,761,000	  
	 3/20/2011
	  	$	389,872,000	  
	 4/20/2011
	  	$	388,978,000	  
	 5/20/2011
	  	$	388,080,000	  
	 6/20/2011
	  	$	387,177,000	  
	 7/20/2011
	  	$	386,269,000	  
	 8/20/2011
	  	$	385,357,000	  
	 9/20/2011
	  	$	384,441,000	  
	 10/20/2011
	  	$	383,520,000	  
	 11/20/2011
	  	$	382,594,000	  
	 12/20/2011
	  	$	381,664,000	  
	 1/20/2012
	  	$	380,729,000	  
	 2/20/2012
	  	$	379,789,000	  
	 3/20/2012
	  	$	378,845,000	  
	 4/20/2012
	  	$	377,896,000	  
	 5/20/2012
	  	$	376,942,000	  
	 6/20/2012
	  	$	375,984,000	  
	 7/20/2012
	  	$	375,020,000	  
	 8/20/2012
	  	$	374,052,000	  
	 9/20/2012
	  	$	373,079,000	  
	 10/20/2012
	  	$	372,101,000	  
	 11/20/2012
	  	$	371,119,000	  
	 12/20/2012
	  	$	370,131,000	  
	 1/20/2013
	  	$	369,138,000	  
	 2/20/2013
	  	$	368,141,000	  
	 3/20/2013
	  	$	367,138,000	  
	 4/20/2013
	  	$	366,131,000	  
	 5/20/2013
	  	$	365,118,000	  
	 6/20/2013
	  	$	364,100,000	  
	 7/20/2013
	  	$	363,078,000	  
	 8/20/2013
	  	$	362,050,000	  
	 9/20/2013
	  	$	361,017,000	  
	 10/20/2013
	  	$	359,979,000	  
	 11/20/2013
	  	$	358,935,000	  
	 12/20/2013
	  	$	357,887,000	  
	 1/20/2014
	  	$	356,833,000	  

  

					
	 Date
	  	Scheduled Series Balance	 
	 2/20/2014
	  	$	355,774,000	  
	 3/20/2014
	  	$	354,709,000	  
	 4/20/2014
	  	$	353,640,000	  
	 5/20/2014
	  	$	352,564,000	  
	 6/20/2014
	  	$	351,484,000	  
	 7/20/2014
	  	$	350,398,000	  
	 8/20/2014
	  	$	349,307,000	  
	 9/20/2014
	  	$	348,210,000	  
	 10/20/2014
	  	$	347,108,000	  
	 11/20/2014
	  	$	346,000,000	  
	 12/20/2014
	  	$	344,887,000	  
	 1/20/2015
	  	$	343,768,000	  
	 2/20/2015
	  	$	342,644,000	  
	 3/20/2015
	  	$	341,514,000	  
	 4/20/2015
	  	$	340,378,000	  
	 5/20/2015
	  	$	339,237,000	  
	 6/20/2015
	  	$	338,090,000	  
	 7/20/2015
	  	$	336,937,000	  
	 8/20/2015
	  	$	335,778,000	  
	 9/20/2015
	  	$	334,614,000	  
	 10/20/2015
	  	$	333,444,000	  
	 11/20/2015
	  	$	332,268,000	  
	 12/20/2015
	  	$	331,086,000	  
	 1/20/2016
	  	$	329,898,000	  
	 2/20/2016
	  	$	328,704,000	  
	 3/20/2016
	  	$	327,504,000	  
	 4/20/2016
	  	$	326,298,000	  
	 5/20/2016
	  	$	325,087,000	  
	 6/20/2016
	  	$	323,869,000	  
	 7/20/2016
	  	$	322,645,000	  
	 8/20/2016
	  	$	321,415,000	  
	 9/20/2016
	  	$	320,179,000	  
	 10/20/2016
	  	$	318,936,000	  
	 11/20/2016
	  	$	317,688,000	  
	 12/20/2016
	  	$	316,433,000	  
	 1/20/2017
	  	$	315,172,000	  
	 2/20/2017
	  	$	313,904,000	  
	 3/20/2017
	  	$	312,631,000	  
	 4/20/2017
	  	$	311,351,000	  
	 5/20/2017
	  	$	310,064,000	  
	 6/20/2017
	  	$	308,771,000	  
	 7/20/2017
	  	$	307,472,000	  
	 8/20/2017
	  	$	306,166,000	  
	 9/20/2017
	  	$	304,853,000	  
	 10/20/2017
	  	$	303,534,000	  
	 11/20/2017
	  	$	302,209,000	  
	 12/20/2017
	  	$	300,877,000	  
	 1/20/2018
	  	$	299,538,000	  
	 2/20/2018
	  	$	298,192,000	  
	 3/20/2018
	  	$	296,840,000	  
	 4/20/2018
	  	$	295,481,000	  
	 5/20/2018
	  	$	294,115,000	  
	 6/20/2018
	  	$	292,742,000	  
	 7/20/2018
	  	$	291,363,000	  

  

					
	 Date
	  	Scheduled Series Balance	 
	 8/20/2018
	  	$	289,976,000	  
	 9/20/2018
	  	$	288,583,000	  
	 10/20/2018
	  	$	287,183,000	  
	 11/20/2018
	  	$	285,775,000	  
	 12/20/2018
	  	$	284,361,000	  
	 1/20/2019
	  	$	282,939,000	  
	 2/20/2019
	  	$	281,511,000	  
	 3/20/2019
	  	$	280,075,000	  
	 4/20/2019
	  	$	278,632,000	  
	 5/20/2019
	  	$	277,182,000	  
	 6/20/2019
	  	$	275,725,000	  
	 7/20/2019
	  	$	274,260,000	  
	 8/20/2019
	  	$	272,788,000	  
	 9/20/2019
	  	$	271,309,000	  
	 10/20/2019
	  	$	269,822,000	  
	 11/20/2019
	  	$	268,328,000	  
	 12/20/2019
	  	$	266,826,000	  
	 1/20/2020
	  	$	265,317,000	  
	 2/20/2020
	  	$	263,800,000	  
	 3/20/2020
	  	$	262,276,000	  
	 4/20/2020
	  	$	260,744,000	  
	 5/20/2020
	  	$	259,205,000	  
	 6/20/2020
	  	$	257,658,000	  
	 7/20/2020
	  	$	0Series 2006-1 Indenture Supplement dated as of March 17, 2006

 Exhibit 4.4 

EXECUTION COPY 
 SPIRIT MASTER FUNDING, LLC 
 an Issuer, 

SPIRIT MASTER FUNDING II, LLC 
 an Issuer 
 and 

CITIBANK, N.A. 

Indenture Trustee 
  

 

SERIES 2006-1 SUPPLEMENT 
 Dated as of March 17, 2006 
 to 

AMENDED AND RESTATED 
 MASTER INDENTURE 
 Dated as of March 17, 2006 

 
  

SPIRIT MASTER FUNDING, NET-LEASE MORTGAGE NOTES, SERIES 2006-1 

 TABLE OF CONTENTS 

 

					
	 	  	Page	 
	 ARTICLE I
	   

	
	 DEFINITIONS
	   

		
	 Section 1.01. Definitions
	  	 	3	  
	
	 ARTICLE II
	   

	
	 CREATION OF THE SERIES 2006-1 NOTES; PAYMENTS ON THE 2006-1 NOTES
	   

		  			
	 Section 2.01. Designation
	  	 	6	  
	 Section 2.02. Payments on the Series 2006-1 Notes
	  	 	7	  
	 Section 2.03. Redemption of the Series 2006-1 Notes
	  	 	8	  
	 Section 2.04. The Insurance Policy Proceeds Account
	  	 	8	  
	 Section 2.05. Limitations Regarding Repurchases, Substitutions and Acquisitions
	  	 	8	  
	
	 ARTICLE III
	   

	
	 REPRESENTATIONS AND WARRANTIES
	   

		
	 Section 3.01. Representations and Warranties
	  	 	9	  
	 Section 3.02. No Default
	  	 	9	  
	 Section 3.03. Conditions Precedent Satisfied
	  	 	10	  
	
	 ARTICLE IV
	   

	
	 MISCELLANEOUS PROVISIONS
	   

		
	 Section 4.01. Ratification of Indenture
	  	 	10	  
	 Section 4.02. Actions by Controlling Party
	  	 	10	  
	 Section 4.03. Counterparts
	  	 	10	  
	 Section 4.04. Governing Law
	  	 	10	  
	 Section 4.05. Beneficiaries
	  	 	10	  
	 Section 4.06. Limited Recourse
	  	 	11	  
	 Section 4.07. Notice to the Insurer
	  	 	11	  
		
	 Exhibits
	  			
	 EXHIBIT A Representations and Warranties
	  	 	13	  
		
	 Schedules
	  			
	 SCHEDULE I-A Mortgage Loans
	  	 	I-A-1	  
	 SCHEDULE I Mortgage Loan Exceptions
	  	 	I-1	  
	 SCHEDULE II-A Mortgaged Properties
	  	 	II-A-1	  

 i 

					
	SCHEDULE II	 	Mortgaged Property Exceptions	 	II-1
	SCHEDULE III-A	 	Equipment Loans	 	III-1
	SCHEDULE III	 	Equipment Loan Exceptions	 	
	SCHEDULE IV	 	Amortization Schedule	 	

 ii 

 SERIES 2006-1 SUPPLEMENT, dated as of March 17, 2006 (the
“Series 2006-1 Supplement”), among Spirit Master Funding, LLC (an “Issuer”), Spirit Master Funding II, LLC (an “Issuer” and, together with Spirit Master Funding, LLC, the
“Issuers”) and the Indenture Trustee. 
 Pursuant to the Indenture, Spirit Master Funding, LLC issued
the Series 2005-1 Notes, with an initial Aggregate Note Principal Balance equal to $441,300,000. Pursuant to this Series 2006-1 Supplement, the Issuers and the Indenture Trustee hereby create a new Series of Notes (the
“Series 2006-1 Notes”) and specify the Principal Terms thereof. Spirit Master Funding II, LLC is hereby designated as an Issuer hereunder. 
 Pursuant to the Indenture, the Issuers may from time to time direct the Indenture Trustee to authenticate one or more new Series of Notes. The Principal Terms of any new Series are to be
set forth in a related Series Supplement to the Indenture. 
 ARTICLE I 

DEFINITIONS 

Section 1.01. Definitions. 
 Capitalized terms used herein and not otherwise defined shall have the meaning set forth in the Indenture. 
 “Accrual Period”: With respect to the Series 2006-1 Notes and any Payment Date, the calendar month immediately preceding such Payment Date. 

“Business Sector”: With respect to any Industry Group, any of the following applicable business
sectors: (a) any business sector as defined in the Indenture; (b) Health Club/Gyms; (c) Recreational Facilities; (d) Specialty Medical Facilities; and (e) Light Manufacturing Facilities. 

“Class A Note”: Any of the Series 2006-1 Notes with a “Class A” designation on the
face thereof, issued pursuant to this Series 2006-1 Supplement and the Indenture, executed by the Issuers and authenticated by the Indenture Trustee or the Authenticating Agent, if any, substantially in the form of Exhibit A-1, A-2 or
A-3 attached to the Indenture. 
 “Controlling Party”: With respect to the Series 2006-1
Notes, (i) the Insurer, for so long as no Insurer Default has occurred and is continuing and (ii) if an Insurer Default has occurred and is continuing, the Series 2006-1 Noteholders representing in the aggregate more than 50% of the
Class Principal Balance of the Series 2006-1 Notes. 
 “Defaulted Asset”: As defined in
the Property Management Agreement. 

  
 3 

 “Delinquent Asset”: As defined in the Property Management Agreement.

 “Early Amortization Event”: With respect to the Series 2006-1 Notes, (a) as defined in
the Indenture and (b) the Insurer has determined, in its reasonable discretion, that as of the date that is six months prior to the Legal Final Payment Date related to the Series 2006-1 Notes, the Issuers will not have the ability to pay
off the Series 2006-1 Notes on such Legal Final Payment Date. 
 “Indenture”: With respect to
the Series 2006-1 Notes, the Amended and Restated Master Indenture, dated March 17, 2006, between Spirit Master Funding, LLC and the Indenture Trustee, as supplemented by the Series 2006-1 Supplement. 

“Indenture Trustee Fee”: With respect to the Series 2006-1 Notes, an amount equal to $10,000 per annum.

 “Initial Purchaser”: Each of Citigroup Global Markets Inc. and Credit Suisse Securities (USA)
LLC. 
 “Insurance Agreement”: With respect to the Series 2006-1 Notes, the Insurance and
Indemnity Agreement, dated March 17, 2006, among the Insurer, the Issuers, Spirit Finance, Spirit Finance Acquisitions, LLC, Spirit Pocono Corporation and the Indenture Trustee. 

“Insurance Policy”: The certificate guaranty insurance policy issued to the Indenture Trustee for the
benefit of the Series 2006-1 Noteholders pursuant to the provisions of the Insurance Agreement. 
 “Insurance
Policy Proceeds Account”: The segregated account established in the name of the Indenture Trustee pursuant to Section 2.15(b) of the Indenture and Section 2.04. 

“Insurance Premium Fee Letter”: The Premium Fee Letter, dated the Series Closing Date, among the
Issuers, Spirit Finance and the Insurer. 
 “Insured Obligations”: As defined in the Insurance
Policy. 
 “Insurer”: With respect to the Series 2006-1 Notes, Ambac Assurance Corporation, a
Wisconsin-domiciled stock insurance corporation. 
 “Insurer Default”: With respect to the
Insurance Policy and the Insurance Agreement, the existence and continuance of any of the following: (a) a failure of the Insurer to make a payment required under the Insurance Policy in accordance with the terms thereof; or
(b) (i) the Insurer (A) files any petition or commences any case or proceeding under any provision or chapter of the Bankruptcy Code of 1978, as amended (the “Bankruptcy Code”), or any other similar federal or
state law in the United States of America relating to insolvency, bankruptcy, rehabilitation, liquidation or reorganization (an “Insolvency Law”), (B) makes a general assignment for the benefit of its creditors, or

  
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 (C) has an order for relief entered against it under any Insolvency Law, the Bankruptcy Code or any
other similar federal or state law in the United States of America relating to insolvency, bankruptcy, rehabilitation, liquidation or reorganization which is final and non-appealable, or (ii) a court of competent jurisdiction, the New York or
Wisconsin Department of Insurance or any other competent regulatory authority enters a final and non-appealable order, judgment or decree (X) appointing a custodian, trustee, agent or receiver for the Insurer or for all or any material portion
of its property, or (Y) authorizing the taking of possession by a custodian, trustee, agent or receiver of the Insurer (or the taking of possession of all or any material portion of the property of the Insurer). 

“Insurer Premium”: With respect to the Series 2006-1 Notes and any Payment Date, the premium payable in
arrears to the Insurer pursuant to the Insurance Premium Fee Letter. 
 “Lease Transfer Mortgaged
Property”: As defined in the Property Management Agreement. 
 “Maximum Property
Concentration”: With respect to any date of determination: (i) with respect to the Property Concentration for any Business Sector, (a) in the case of Specialty Retailers as of any Determination Date, a percentage equal to
23.0% as of such Determination Date, (b) in the case of Education Facilities as of any Determination Date, a percentage equal to 10.0% as of such Determination Date, (c) in the case of Movie Theaters as of any Determination Date, a
percentage equal to 12.5% as of such Determination Date, and (d) in the case of any other Business Sector (other than the Restaurant Business Sector, so long as no related Restaurant Concept exceeds 7.5% of the Allocated Collateral Amount of
all Mortgage Loans and Mortgaged Properties) as of any Determination Date, a percentage no greater than 7.5% as of such Determination Date; (ii) with respect to the Property Concentration for any Tenant (including affiliates thereof),
(x) in the case of the largest concentration of Tenants (including affiliates thereof) as of such Determination Date, a percentage equal to 7.0% as of such Determination Date and (y) in the case of the five (5) largest concentrations
of Tenants (including affiliates thereof) as of such Determination Date, an aggregate percentage equal to 30.0% as of such Determination Date; (iii) with respect to the Property Concentration for any state, a percentage equal to 15.0% plus the
Property Concentration of such state as of the Initial Closing Date; (iv) with respect to the Property Concentration for Ground Leases, a percentage equal to 2.0%; and (v) with respect to the Property Concentration for Leases pursuant to
which Tenants pay Percentage Rent only, a percent equal to 1.0%. 
 “Property
Concentrations”: Concentrations, stated as a percentage, of (i) Business Sectors, (ii) Tenants (including affiliates of any Tenant), (iii) states, (iv) Ground Leases, and (v) Leases pursuant to which
Tenants pay Percentage Rent only, and are calculated by dividing the aggregate of the Allocated Collateral Amount of the Mortgage Loans and the Mortgaged Properties included in the Collateral Pool, in each case, with respect to all (a) Leases
of any single Business Sector, (b) Leases to any single Tenant (including affiliates of such Tenant), (c) Mortgaged Properties within any state, 
  

	

  
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 (d) Mortgaged Properties which are subject to Ground Leases and (e) Mortgaged Properties which are
subject to Leases pursuant to which Tenants pay Percentage Rent only, in each case, by the aggregate Allocated Collateral Amount. 
 “Reinvestment Yield”: The yield on United States Treasury Securities having the closest maturity (month and year) to the weighted average life of the Notes (prior to the
application of any Voluntary Prepayment with respect thereto; if more than one such quoted United States Treasury Security has the same maturity date, then the yield of the United States Treasury Security quoted closest to par), plus 0.50%.

 “Scheduled Series Balance”: With respect to any Payment Date and the Series 2006-1
Notes, the amount set forth for such date on the Amortization Schedule annexed hereto as Schedule IV. 

“Series 2006-1 Noteholder”: With respect to any Series 2006-1 Note, the applicable Noteholder, as
such term is further defined in the Indenture. 
 “Series Closing Date”: March 17, 2006.

 “Spirit SPE”: Any special purpose, bankruptcy remote subsidiary (direct or indirect) of Spirit
Finance (other than any Originator). 
 ARTICLE II 
 CREATION OF THE SERIES 2006-1 NOTES; PAYMENTS ON THE 2006-1 NOTES 

Section 2.01. Designation. 
 (a) There is hereby created a Series of Notes to be issued by the Issuers pursuant to the Indenture and this Series 2006-1 Supplement to be known as “Spirit Master Funding, Net-Lease
Mortgage Notes, Series 2006-1.” The Notes shall have the following Class designation, initial Class Principal Balance, Note Rate and Ratings: 
  

									
	 Class Designation
	 	Initial Class
Principal Balance	 	 	 Note Rate
	 	 Ratings (S&P/Moody’s)

	 Class A
	 	$	301,820,000	  	 	5.76%	 	AAA/Aaa

 The Note Interest with respect to each Class of the Series 2006-1 Notes will be calculated on a 30/360 basis.

 The Series 2006-1 Notes shall not have preference or priority over the Notes of any other Series except to the
extent set forth in the Indenture. The Series 2006-1 Notes shall not be subordinate to any other Series. 
 (b) The
initial Payment Date with respect to the Series 2006-1 Notes shall be the Payment Date occurring on April 20, 2006. The Legal Final Payment Date 

  
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 with respect to the Series 2006-1 Notes shall be March 2021. The Rated Final Payment Date with
respect to the Series 2006-1 Notes shall be March 2024. 
 (c) The initial Collection Period with respect to the
Series 2006-1 Notes shall be the period commencing on March 17, 2006 to and including April 17, 2006. 

(d) The Series 2006-1 Notes offered and sold shall be issued in the form of Book-Entry Notes. 

Section 2.02. Payments on the Series 2006-1 Notes. On each Payment Date, the Indenture Trustee will apply and will
pay the Series Available Amount with respect to the Series 2006-1 Notes for such Payment Date for the following purposes and in the following order of priority: 

(1) to the Insurer, the earned and unpaid Insurer Premium due as of such Payment Date; 

(2) to the Class A Noteholders, the Note Interest with respect to the Class A Notes, plus unpaid Note
Interest with respect to the Class A Notes from any prior Payment Date, together with interest on any such unpaid Note Interest at the Note Rate applicable to the Class A Notes; 

(3) (I) so long as no Early Amortization Event or Event of Default has occurred and is continuing, until the
Class Principal Balance of the Class A Notes has been reduced to zero, to the Class A Noteholders, an amount up to the sum of the Scheduled Principal Payments and all Unscheduled Principal Payments allocable to Series 2006-1 for
such Payment Date, or (II) if an Early Amortization Event or Event of Default has occurred and is continuing, on a pro rata basis based on unpaid principal amounts, to the Class A Noteholders, in respect of unpaid principal of the
Class A Notes, up to an aggregate amount equal to the applicable Series Available Amount remaining for such Payment Date; 
 (4) to the Insurer, an amount equal to the aggregate amount of unreimbursed payments made under the Insurance Policy and all other amounts owed to the Insurer under the Insurance Policy and the
Insurance Agreement and interest on such amounts at the rate agreed upon between the Insurer and the Issuers; and 
 (5) to the Class A Noteholders, the Make Whole Payments allocated to the Series 2006-1 Notes, if any, due on such Payment Date, together with any unpaid Make Whole Payments from any prior
Payment Date. 
 Only the Insurer may waive the occurrence of an Early Amortization Event under clause (b) of
the definition of “Early Amortization Event” (as such definition is set forth in this Series 2006-1 Supplement). 

  
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 Section 2.03. Redemption of the Series 2006-1 Notes. On any Payment
Date prior to the Legal Final Payment Date, the Issuers may redeem the Series 2006-1 Notes in whole or in part, in accordance with the procedures set forth in the Indenture and at a price equal to the outstanding principal amounts thereof
plus accrued and unpaid interest thereon, the applicable Make Whole Payments and any outstanding expenses. 

Section 2.04. The Insurance Policy Proceeds Account. The Indenture Trustee shall, prior to the Series Closing Date,
establish the Insurance Policy Proceeds Account at Citibank, N.A., in its name, as Indenture Trustee, bearing a designation clearly indicating that such account and all funds deposited therein are held for the exclusive benefit of the
Series 2006-1 Noteholders, over which the Indenture Trustee shall have exclusive control and the sole right of withdrawal, and in which none of the Issuers or any other Person shall have any legal or beneficial interest. Amounts held in the
Insurance Policy Proceeds Account shall be held uninvested. 
 Section 2.05. Limitations Regarding Repurchases,
Substitutions and Acquisitions. Except with respect to repurchases or substitutions by the applicable Originator or Support Provider due to a Collateral Defect, each Issuer may only sell or exchange its related Mortgaged Property or
Mortgage Loan to or with any of its Affiliates subject to the following conditions: (a) such Issuer may sell or exchange such Mortgaged Property or Mortgage Loan only to or with a Spirit SPE that is not the Originator of such Mortgaged
Property or Mortgage Loan or, in the case of such Mortgaged Properties or Mortgage Loans that are Delinquent Assets or Defaulted Assets, to or with the Property Manager, the Special Servicer or a Spirit SPE that is not the Originator thereof,
(b) the aggregate Collateral Value of all Mortgaged Properties and Mortgage Loans owned by an Issuer that are sold to or exchanged with affiliates of that Issuer and are not related to Delinquent Assets or Defaulted Assets may not exceed
10% of the Collateral Value of the Mortgage Loans and Mortgaged Properties (that do not otherwise secure a Mortgage Loan) owned by that Issuer as of the Series Closing Date, and (c) the aggregate Collateral Value of all Mortgaged
Properties and Mortgage Loans owned by an Issuer that are sold to affiliates of that Issuer and are related to Delinquent Assets or Defaulted Assets may not exceed 10% of the Collateral Value of the Mortgage Loans and Mortgaged Properties (that
do not otherwise secure a Mortgage Loan) owned by that Issuer as of the Series Closing Date; provided, that, subject to receipt of an Opinion of Counsel regarding certain matters of bankruptcy law, such 10% limitation may be waived by the
Insurer. 
 The aggregate Collateral Value of Qualified Substitute Mortgage Loans and Qualified Substitute Mortgaged Properties
acquired by the Issuers from Affiliates thereof (including with proceeds from sales to third parties) may not exceed: (i) in any 12-month period, 10% of the Aggregate Collateral Value as of the Series Closing Date and
(ii) over the term of the Notes, 25% of the Aggregate Collateral Value as of the Series Closing Date; provided, however, that, upon the consent of the Insurer and subsequent to such consent provision of 20 days notice to the Rating
Agencies, the foregoing limitations will not include Qualified Substitute Mortgage Loans or Qualified Substitute Mortgaged Properties from parties unaffiliated with Spirit Finance; provided, further, that the foregoing limitations will not include
any mortgaged properties substituted pursuant to any Third Party Purchase Options or any Lease Transfer 

  
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 Mortgaged Properties. In addition, the acquisition of any Qualified Substitute Mortgaged Property or
Qualified Substitute Mortgage Loan by an Issuer may not cause: (i) the Property Concentration of Recreational Facilities on any such date of acquisition to exceed the applicable percentage set forth on the Series Closing Date; and
(ii) subject to ten (10) Business Days notification to the Rating Agencies, the Property Concentration of the Retail Industry Group (excluding Specialty Retailers) on any such date of acquisition to be less than 40%. 

ARTICLE III 

REPRESENTATIONS AND WARRANTIES 
 Section 3.01. Representations and Warranties. 
 (a) The
Issuers and the Indenture Trustee hereby restate as of the Series Closing Date, or as of such other date as is specifically referenced in the body of such representation and warranty, all of the representations and warranties set forth in
Section 5.06 and Section 9.04, as applicable, of the Indenture. 
 (b) Each of the parties hereto make the
following representations: 
 (i) it has full corporate power and authority to execute, deliver and
perform under this Series 2006-1 Supplement, and to consummate the transactions set forth herein. The consummation of the transactions contemplated by this Series 2006-1 Supplement is in the ordinary course of its business and will
not conflict with, or result in a breach of, any of the terms, conditions or provisions of its organizational documents, or any material agreement or instrument to which it is now a party or by which it is bound, or result in the violation of any
law, rule, regulation, order, judgment or decree to which it or its property is subject, except any such violation that would not result in a material adverse effect on the business or financial condition of such party or the enforceability of any
of the Transaction Documents. The execution, delivery and performance by it of this Series 2006-1 Supplement, and the consummation by it of the transactions contemplated hereby, have been duly authorized by all necessary corporate action. This
Series 2006-1 Supplement has been duly executed and delivered by it and constitutes the valid and legally binding obligation of it enforceable against it in accordance with its terms; 

(ii) No consent, approval, order or authorization of, or declaration, filing or registration with, any governmental
entity is required to be obtained or made by it in connection with the execution, delivery or performance by it of this Series 2006-1 Supplement, or the consummation by it of the transactions contemplated hereby, except such as have already
been obtained. 
 Section 3.02. No Default. The Issuers hereby represent and warrant to the Series 2006-1
Noteholders and the Indenture Trustee that, as of the Series Closing Date, no Event of Default has occurred and is continuing. 

  
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 Section 3.03. Conditions Precedent Satisfied. The Issuers hereby represent
and warrant to the Series 2006-1 Noteholders and the Indenture Trustee that, as of the Series Closing Date, each of the conditions precedent set forth in the Indenture, including but not limited to those conditions precedent set forth in
Section 2.04(e) thereof, have been satisfied. 
 Section 3.04. Collateral Representations and
Warranties. The Issuers hereby represent and warrant to the Indenture Trustee on behalf of the Noteholders and the Insurers that the representations and warranties set forth on Exhibit A hereto are true and correct as of the
Series Closing Date (or such other date as is set forth in any such representation or warranty) with respect to the Mortgage Loans, Mortgaged Properties and Leases Granted by such Issuer on or prior to the Series Closing Date, except as
otherwise set forth in Exhibit A hereto. 
 ARTICLE IV 

MISCELLANEOUS PROVISIONS 
 Section 4.01. Ratification of Indenture. As supplemented by this Series 2006-1 Supplement, the Indenture is in all respects ratified and confirmed and the Indenture, as so
supplemented by the Series 2005-1 Supplement and this Series 2006-1 Supplement, shall be read, taken and construed as one and the same instrument. 
 Section 4.02. Actions by Controlling Party. So long as no Insurer Default has occurred and is continuing, the Insurer, and at any time that an Insurer Default has occurred and is
continuing, Series 2006-1 Noteholders representing more than 50% of the Aggregate Note Principal Balance of the Series 2006-1 Notes, will be entitled to exercise the rights and remedies of the Series 2006-1 Noteholders with respect to
actions taken by the Controlling Party pursuant to the Indenture. 
 Section 4.03. Counterparts. This
Series 2006-1 Supplement may be executed in two or more counterparts, and by different parties on separate counterparts, each of which shall be an original, but all of which shall constitute one and the same instrument. 

Section 4.04. Governing Law. THIS SERIES 2006-1 SUPPLEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE
STATE OF NEW YORK, WITHOUT REFERENCE TO ITS CONFLICT OF LAW PROVISIONS, AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS. 

Section 4.05. Beneficiaries. As supplemented by this Series 2006-1 Series Supplement, the Indenture shall
inure to the benefit of and be binding upon the parties hereto, the Series 2006-1 Noteholders, and their respective successors and permitted assigns. No other Person shall have any right or obligation hereunder. 

  
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 Section 4.06. Limited Recourse. Notwithstanding anything to the contrary
herein or otherwise in the Indenture, the Series 2006-1 Notes are nonrecourse obligations solely of the Issuers and shall be payable only from the Collateral Pool and from drawings on the Insurance Policy. Upon the exhaustion of the Collateral
included in the Collateral Pool, any liabilities of the Issuers hereunder shall be extinguished. Each Series 2006-1 Noteholder shall be deemed to have agreed, by acceptance of its Note, not to file or join in filing any petition in bankruptcy
or commence any similar proceeding in respect of any Issuer for a period of two years and 31 days following payment in full of all of the Notes issued or co-issued by such Issuer under the Indenture. 

Section 4.07. Notice to the Insurer and the Rating Agencies. Any communication provided for or permitted hereunder or
otherwise pursuant to the Indenture shall be in writing and, unless otherwise expressly provided herein, shall be deemed to have been duly given if delivered by courier or mailed by first class mail, postage prepaid, or if transmitted by
facsimile and confirmed in a writing delivered or mailed as aforesaid, to: (i) in the case of the Insurer, Ambac Assurance Corporation, One State Street Plaza, New York, New York 10004, Attention: Structured Finance—Mortgage-Backed
Securities Group, facsimile number: (212) 363-1459, with a copy to, Cadwalader, Wickersham & Taft LLP, One World Financial Center, New York, New York 10281, Attention: Pat Quinn, facsimile number (212) 909-5870;
(ii) in the case of S&P, Standard & Poor’s Rating Services, a division of The McGraw-Hill Companies, Inc., 55 Water Street, 41st Floor, New York, New York, 10004, Attention: Asset-Backed Surveillance Department,
facsimile number: (212) 438-2435; and (iii) in the case of Moody’s, Moody’s Investor Services, Inc., 99 Church Street, New York, New York 10007, Attention: Asset-Backed Monitoring, facsimile number: (212) 553-1350;
or, as to each such Person, such other address or facsimile number as may hereafter be furnished by such Person to the parties hereto in writing. 

  
 11 

 IN WITNESS WHEREOF, the Issuers and the Indenture Trustee have caused this
Series 2006-1 Supplement to be duly executed and delivered by their respective officers thereunto duly authorized and their respective seals, duly attested, to be hereunto affixed, all as of the day and year first above written. 

 

			
	SPIRIT MASTER FUNDING, LLC
	 as an Issuer

		
	By:	 	/s/ Catherine Long
		 	  

		
	Name:	 	Catherine Long
	Title:	 	Chief Financial Officer

 

			
	
	 SPIRIT MASTER FUNDING II, LLC
 as an Issuer

		
	By:	 	/s/ Michael T. Bennett
		 	  

		
	Name:	 	Michael T. Bennett
	Title:	 	Senior Vice President

 

			
	
	CITIBANK, N.A.
	 not in its individual capacity but solely as
 Indenture Trustee

		
	By:	 	/s/ John Hannon
		 	  

		
	Name:	 	John Hannon
	Title:	 	AVP

  
 12 

 EXHIBIT A 
 REPRESENTATIONS AND WARRANTIES 
 SPIRIT MASTER FUNDING, LLC
and SPIRIT MASTER FUNDING II, LLC, each a Delaware limited liability company (each, an “Issuer”), on this 17th day of March, 2006, hereby delivers this Issuer Certification pursuant to that certain Indenture of even date herewith
(the “Indenture”) and that certain Amended and Restated Property Management and Servicing Agreement of even date herewith (the “Property Management Agreement”). Capitalized terms used but not defined
herein shall have the meanings set forth in the Indenture, and if not set forth in the Indenture, in the Property Management Agreement. 
 1. Mortgage Loans. With respect to each Mortgage Loan (as identified in Schedule I-A), the applicable Originator hereby represents and warrants, and the Issuers hereby represent
and warrant with respect to any Mortgage Loans pledged prior to the Series Closing Date or purchased or substituted by such Issuer from a third party (subject to Section 2.05 of the Property Management Agreement), as of the date herein
below specified or, if no such date is specified, as of the Series Closing Date, except as set forth on Schedule I hereto, that: 
 (a) Immediately prior to the transfer and assignment of the Mortgage Loan to the Issuer, the applicable Originator had good and insurable fee title to, and was the sole owner and holder of, the
Mortgage Loan, free and clear of any and all liens, encumbrances and other interests on, in or to the Mortgage Loan. Such transfer and assignment from the applicable Originator to the Issuer of the Mortgage Loan by collateral assignment and by
individual allonges of the Mortgage Notes and Assignments of the Mortgages in blank validly assigns all of such Originator’s right, title and ownership of the Mortgage Loan to the Issuer (and, with respect to the Mortgage, to the Collateral
Agent) free and clear of any pledge, lien, encumbrance or security interest. 
 (b) The applicable Originator has full
right and authority to sell, contribute, assign and transfer the Mortgage Loan to the Issuer. The entire agreement with the applicable Originator (whether originated by such Originator or a different originator) is contained in the Loan Documents
and there are no warranties, agreements or options regarding such Mortgage Loan or the related Mortgaged Property not set forth therein. Other than the Loan Documents, there are no agreements between any predecessor in interest in the Mortgage Loan
and the Borrower. 
 (c) The information pertaining to the Mortgage Loan set forth in the mortgage loan
schedule attached to the related Purchase and Sale Agreement was true and correct in all material respects as of the related Transfer Date. The Mortgage Loan was originated or acquired in accordance with, and fully complies with, the related
underwriting guidelines in all material respects. The related Loan File contains all of the documents and instruments required to be contained therein. 

  
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 (d) The following are “Permitted Exceptions” with respect to
the Mortgage Loan and the related Mortgaged Properties and Leases: (i) liens for real estate taxes and special assessments not yet due and payable or due but not yet delinquent, (ii) covenants, conditions and restrictions, rights-of-way,
easements and other matters of public record, such exceptions being of a type or nature that are acceptable to mortgage lending institutions generally, (iii) those purchase options described under “Description of the Mortgage Loans, the
Mortgaged Properties and the Leases —Terms Governing the Leases—Third Party Purchase Option” in the related Private Placement Memorandum and (iv) other matters to which like properties are commonly subject, which matters referred
to in clauses (i), (ii), (iii), and (iv) do not, individually or in the aggregate, materially interfere with the value of the Mortgaged Property, or do not materially interfere or restrict the current use or operation of the Mortgaged Property
relating to the Mortgage Loan or do not materially interfere with the security intended to be provided by the Mortgage, the current use or operation of the Mortgaged Property or the current ability of the Mortgaged Property to generate net operating
income sufficient to service the Mortgage Loan. Financing Statements have been filed and/or recorded (or, if not filed and/or recorded, have been submitted in proper form for filing and recording), in all public places necessary to perfect a
valid first priority security interest in all items of personal property defined as part of the Mortgaged Property and in all cases, subject to a purchase money security interest and to the extent perfection may be effected pursuant to
applicable law solely by recording or filing Financing Statements. 
 (e) The related Mortgage constitutes a valid, legally
binding and enforceable first priority lien upon the related Mortgaged Property securing the Mortgage Loan and the improvements located thereon and forming a part thereof, prior to all other liens and encumbrances, except for Permitted
Exceptions. The lien of the Mortgage is insured by an American Land Title Association (or an equivalent form thereof as adopted in the applicable jurisdiction) mortgagee’s title insurance policy (a “Title Policy”),
issued by a nationally recognized title insurance company, insuring the originator of the Mortgage Loan, its successors and assigns, as to the first priority lien of the Mortgage in the original principal amount of the Mortgage Loan after all
advances of principal, subject only to Permitted Exceptions (or, if a Title Policy has not yet been issued in respect of the Mortgage Loan, a policy meeting the foregoing description is evidenced by a commitment for title insurance “marked
up” (or by “pro-forma” otherwise agreed to in a closing instruction letter countersigned by the title company) as of the closing date of the Mortgage Loan). Each Title Policy (or, if it has yet to be issued, the coverage to be
provided thereby) is in full force and effect, all premiums thereon have been paid and no material claims have been made thereunder and no claims have been paid thereunder. Neither the applicable Originator nor the Issuer (as applicable) has, by act
or omission, done anything that would materially impair the coverage under such Title Policy. Immediately following the transfer and assignment of the Mortgage Loan to the Issuer, such Title Policy (or, if it has yet to be issued, the coverage to be
provided thereby) will inure to the benefit of the Issuer without the consent of or notice to the insurer. 
 (f) Neither
the applicable Originator nor the Issuer (as applicable) has waived any material default, breach, violation or event of acceleration existing under the Mortgage or Mortgage Note. 

  
 14 

 (g) The Borrower has not waived any material default, breach, violation or event of
acceleration by the Tenant existing under the Lease. 
 (h) There is no valid offset, defense or counterclaim to the
payment or performance obligations of the Mortgage Loan. 
 (i) The Mortgaged Property securing the Mortgage Loan is free
and clear of any damage that would materially and adversely affect its value as security for the Mortgage Loan. No proceeding for the condemnation of all or any material portion of the Mortgaged Property has been commenced. 

(j) The Mortgage Loan complied with all applicable usury laws in effect at its date of origination. 

(k) The proceeds of the Mortgage Loan have been fully disbursed and there is no requirement for future advances thereunder. All
costs, fees and expenses incurred in making, closing and recording the Mortgage Loan, including, but not limited to, mortgage recording taxes and recording and filing fees relating to the origination of such Mortgage Loan, have been paid. Any and
all requirements as to completion of any on-site or off-site improvement by the Borrower and as to disbursements of any escrow funds therefor that were to have been complied with have been complied with. 

(l) The Borrower under the related Mortgage Note, Mortgage and all other Loan Documents had the power, authority and legal capacity
to enter into, execute and deliver the same, and, as applicable, such Mortgage Note, Mortgage and other Loan Documents have been duly authorized, properly executed and delivered by the parties thereto, and each is the legal, valid and binding
obligation of the maker thereof (subject to any non recourse provisions contained in any of the foregoing agreements and any applicable state anti-deficiency legislation), enforceable in accordance with its terms, except as such enforcement
may be limited by bankruptcy, insolvency, reorganization, receivership, moratorium or other laws relating to or affecting the rights of creditors generally and by general principles of equity (regardless of whether such enforcement is
considered in a proceeding in equity or at law). 
 (m) All improvements upon the Mortgaged Property securing the Mortgage
Loan are insured under insurance policies (as described in a schedule to the related Purchase and Sale Agreement entitled the “Insurance Schedule”). The Loan Documents require the Borrower to maintain, or cause the
Tenant to maintain, and the Lease requires the Tenant to maintain, insurance coverage described on the Insurance Schedule and all insurance required under applicable law including, without limitation, insurance against loss by hazards with
extended coverage in an amount (subject to a customary deductible) at least equal to the full replacement cost of the improvements located on such Mortgaged Property, including without limitation, flood insurance if any portion of the improvements
located upon the Mortgaged Property was, at the time of the origination of the Mortgage Loan, in a flood zone area as identified in the Federal Register by the Federal Emergency Management Agency as a 100 year flood zone or special hazard area, and
flood insurance was available under the then current guidelines 

  
 15 

 
of the Federal Insurance Administration and is in effect with a generally acceptable insurance carrier. The Loan Documents require the Borrower to maintain, or to cause the Tenant to maintain, on
the Mortgaged Property securing any Mortgage Loan a fire and extended perils insurance policy, in an amount not less than the replacement cost and the amount necessary to avoid the operation of any co-insurance provisions with respect to the
Mortgaged Property. All such insurance policies contain a standard “additional insured” clause (or similar clause) naming the Borrower (as landlord under the related Lease), its successors and assigns (including, without limitation,
subsequent owners of the Mortgaged Property), as additional insured, and may not be reduced, terminated or canceled without thirty (30) (and, in some cases ten (10)) days’ prior written notice to the additional insured. In
addition, the Mortgage requires the Borrower to (i) cause the holder of the Mortgage to be named as an additional insured mortgagee, and (ii) maintain (or to require the Tenant to maintain) in respect of the Mortgaged Property
workers’ compensation insurance (if applicable), commercial general liability insurance in amounts generally required by such holder of the Mortgage, and at least 6 months rental or business interruption insurance. The related Loan Documents
obligate the Borrower to maintain such insurance and, at such Borrower’s failure to do so, authorizes the mortgagee to maintain such insurance at the Borrower’s cost and expense and to seek reimbursement therefor from such Borrower. Each
such insurance policy, as applicable, is required to name the holder of the Mortgage as an additional insured or contain a mortgagee endorsement naming the holder of the Mortgage as loss payee and requires prior notice to the holder of the Mortgage
of termination or cancellation, and no such notice has been received, including any notice of nonpayment of premiums, that has not been cured. There have been no acts or omissions that would impair the coverage of any such insurance policy or the
benefits of the mortgage endorsement. All insurance contemplated in this section is maintained with insurance companies with a General Policy Rating of “A” or better by S&P or “A:VI” or better by Best’s Insurance
Guide and are licensed to do business in the state wherein the Borrower or the Mortgaged Property subject to the policy, as applicable, is located. 
 (n) As of the Series Closing Date, with the exception of the 42 Mortgaged Properties securing 42 Mortgage Loans, representing approximately 2.2% of the Mortgaged Properties (by Allocated
Collateral Amount), for each of which there is an environmental insurance policy in place, the Mortgaged Property securing the Mortgage Loan was subject to one or more environmental site assessments or reports (or an update of a previously conducted
assessment or report) prior to the origination of such Mortgage Loan, and neither the applicable Originator nor the Issuer (as applicable) has knowledge of any material and adverse environmental conditions or circumstance affecting such Mortgaged
Property that was not disclosed in the related assessment or report(s). There are no material and adverse environmental conditions or circumstances affecting the Mortgaged Property securing any such Mortgage Loan other than, with respect to any
adverse environmental condition described in such report, those conditions for which remediation has been completed and, thereafter, to the extent that such report or remediation program is so recommended: (i) a program of annual integrity
testing and/or monitoring was recommended and implemented in connection with the Mortgaged Property securing any such Mortgage Loan or an adjacent or neighboring property; (ii) an operations and maintenance plan or periodic monitoring of such
Mortgaged Property or 

  
 16 

 
nearby properties was recommended and implemented; or (iii) a follow-up plan was otherwise required to be taken under CERCLA or under regulations established thereunder from time to time by
the Environmental Protection Agency, and such plan has been implemented in the case of (i), (ii) and (iii) above. The Borrower determined in accordance with the related underwriting guidelines that adequate funding was available for such
program or plan, as applicable. The applicable Originator has not taken any action with respect to the Mortgage Loan or the Mortgaged Property securing such Mortgage Loan that could subject the Issuer, or its successors and assigns in respect of the
Mortgage Loan, to any liability under CERCLA or any other applicable federal, state or local environmental law, and neither such Originator nor the Issuer (as applicable) has received any actual notice of a material violation of CERCLA or any
applicable federal, state or local environmental law with respect to the Mortgaged Property securing such Mortgage Loan that was not disclosed in the related report. The Mortgage or other Loan Documents require the Borrower (and the Leases require
the Tenant) to comply with all applicable federal, state and local environmental laws and regulations. 
 (o) The Mortgage
Loan is not cross-collateralized with any mortgage loan that is not included in the Collateral Pool. 
 (p) The terms of
the Mortgage, Mortgage Note and other Loan Documents have not been impaired, waived, altered, modified, satisfied, canceled or subordinated in any material respect, except by written instruments that are part of the Loan File, recorded or filed
in the applicable public office if necessary to maintain the priority of the lien of the related Mortgage. 
 (q) There are
no delinquent taxes, ground rents, assessments for improvements or other similar outstanding lienable charges affecting the related Mortgaged Property which are or may become a lien of priority equal to or higher than the lien of the Mortgage.
For purposes of this representation and warranty, real property taxes and assessments shall not be considered unpaid until the date on which interest and/or penalties would be payable thereon. 

(r) Except for any Mortgage Loan secured by a Ground Lease, the interest of the Borrower in the Mortgaged Property consists of a fee
simple estate in real property. 
 (s) The Mortgage Loan is a whole loan and not a participation interest. 

(t) The assignment of the Mortgage referred to in the Loan File constitutes the legal, valid and binding assignment of such Mortgage
from the relevant assignor to the Issuer or to the Collateral Agent. The Assignment of Leases and Rents set forth in the Mortgage or separate from the Mortgage and related to and delivered in connection with the Mortgage Loan establishes and creates
a valid, subsisting and, subject only to Permitted Exceptions, enforceable first priority lien and first priority security interest in the Borrower’s interest in all leases, subleases, licenses or other agreements pursuant to which any person
is entitled to occupy, use or possess all or any portion of the real property subject to the Mortgage, and each assignor thereunder has the 

  
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 full right to assign the same. The related assignment of Mortgage or any assignment of leases and rents not
included in a Mortgage, executed and delivered in favor of the Issuer is in recordable form and constitutes a legal, valid and binding assignment, sufficient to convey to the assignee named therein all of the assignor’s right, title and
interest in, to and under such assignment of leases and rents. 
 (u) All escrow deposits relating to the Mortgage Loan
that are required to be deposited with the holder of the Mortgage Loan or its agent have been so deposited. 
 (v) As of
the date of origination of such Mortgage Loan and, as of the Transfer Date, as the case may be, the Mortgaged Property securing such Mortgage Loan was and is free and clear of any mechanics’ and materialmen’s liens or liens in the
nature thereof which create a lien prior to that created by the Mortgage, except those which are insured against by the Title Policy referred to in paragraph (e) above. 
 (w) As of the date of the origination of the Mortgage Loan, no improvement that was included for the purpose of determining the appraised value of the related Mortgaged Property securing such
Mortgage Loan at the time of origination of the Mortgage Loan lay outside the boundaries and building restriction lines of such property in any way that would materially and adversely affect the value of such Mortgaged Property or the ability to
operate the Mortgaged Property under the related Lease (unless affirmatively covered by the title insurance referred to in paragraph (e) above), and no improvements on adjoining properties encroached upon such Mortgaged Property to any material
extent. 
 (x) (i) There exists no material default, breach or event of acceleration under the Mortgage Loan or any of
the Loan Documents or the related Lease, if any, (ii) there exists no event (other than payments due but not yet delinquent) that, with the passage of time or with notice and the expiration of any grace or cure period, would constitute such a
material default, breach or event of acceleration, (iii) no payment on any Mortgage Loan is, or has previously been during any time owned by the applicable Originator or the Issuer, 30 or more days delinquent, and (iv) no payment on any
related Lease is or has previously been 30 or more days delinquent; provided, however, that this representation and warranty does not cover any default, breach or event of acceleration that specifically pertains to any matter otherwise covered or
addressed by any other representation and warranty made by such Originator with respect to the Mortgage Loan. 
 (y) In
connection with the origination of the Mortgage Loan, the applicable Originator inspected or caused to be inspected the Mortgaged Property securing the Mortgage Loan by inspection, appraisal or otherwise as required in such Originator’s
underwriting guidelines then in effect. 
 (z) The Mortgage Loan contains no equity participation by or shared appreciation
rights in the lender or beneficiary under the Mortgage, and does not provide for any contingent or additional interest in the form of participation in the cash flow of the Mortgaged Property securing the Mortgage Loan, or for negative
amortization. 

  
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 (aa) No holder of the Mortgage Loan has advanced funds or induced, solicited or
knowingly received any advance of funds from a party other than the owner of the Mortgaged Property securing the Mortgage Loan, directly or indirectly, for the payment of any amount required by the Mortgage Loan (other than amounts paid by the
Tenant as specifically provided under the related Lease). 
 (bb) To the applicable Originator’s knowledge, based on
due diligence customarily performed in the origination or acquisition of comparable mortgage loans by such Originator, as of the date of origination or acquisition of the Mortgage Loan, the related Borrower, was in compliance with all applicable
laws relating to the ownership and operation of any Mortgaged Property securing the Mortgage Loan as then operated and was in possession of all material licenses, permits and authorizations required by applicable laws for the ownership and operation
of such Mortgaged Property as operated. With respect to any Mortgaged Property operated as a franchised property, and except with respect to Mortgage Loans for which the related Tenant is the franchisor, the Tenant of such Mortgaged Property has
entered into a legal, valid, and binding franchise agreement and such lessee operator has represented in the applicable lease documents that, as of the date of origination or acquisition of the Mortgage Loan, there were no defaults under the
franchise agreement by such Tenant. 
 (cc) The origination, servicing and collection practices the applicable Originator
or Issuer used with respect to the Mortgage Loan since such Originator’s origination or, as applicable, such Originator’s or Issuer’s acquisition thereof have complied with applicable law in all material respects and are consistent
and in accordance with the terms of the related Loan Documents and in accordance with the applicable servicing standard and customary industry standards. 
 (dd) The Mortgage or Mortgage Note, together with applicable state law, contains customary and enforceable provisions (subject to the exceptions set forth in paragraph (l) above) such as to
render the rights and remedies of the holders thereof adequate for the practical realization against the Mortgaged Property securing the Mortgage Loan of the principal benefits of the security intended to be provided thereby, including the right of
foreclosure under the laws of the state in which the Mortgaged Property securing the Mortgage Loan is located governing foreclosures of mortgages and deeds of trust under power of sale. 

(ee) The Mortgage provides that insurance proceeds and condemnation proceeds will be applied for one of the following purposes: to
restore or repair the Mortgaged Property securing the Mortgage Loan; to repay the principal of the Mortgage Loan; or to be used as otherwise directed by the holder of such Mortgage. 

(ff) There are no actions, suits, legal, arbitration or administrative proceedings or investigations by or before any court or
governmental authority or, to the best of the applicable Originator’s or Issuer’s knowledge, as applicable, pending against or affecting the Borrower or the Mortgaged Property securing the Mortgage Loan that, if determined adversely to
such Borrower or the Mortgaged Property securing the Mortgage Loan, would materially and adversely affect the value of the Mortgaged Property 

  
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securing the Mortgage Loan or the ability of the Borrower to pay principal, interest or any other amounts due under the Mortgage Loan or the related Lease, as applicable. 

(gg) If the Mortgage is a deed of trust, a trustee, duly qualified under applicable law to serve as such, is properly designated and
serving under such Mortgage. Except in connection with a trustee’s sale or as otherwise required by applicable law, after default by the Borrower, no fees or expenses are payable to such trustee. 

(hh) Except in cases where either (i) a release of a portion of the Mortgaged Property securing the Mortgage Loan was
contemplated at origination of the Mortgage Loan and such portion was not considered material for purposes of underwriting the Mortgage Loan, or (ii) release is conditioned upon the satisfaction of certain underwriting and legal requirements
and the payment of a release price, neither the Mortgage Note nor the Mortgage requires the holder thereof to release all or any portion of the Mortgaged Property securing the Mortgage Loan from the lien of the Mortgage except upon payment in full
of all amounts due under the Mortgage Loan. 
 (ii) The Mortgage does not permit the Mortgaged Property securing the
Mortgage Loan to be encumbered by any lien junior to or of equal priority with the lien of the Mortgage (excluding any lien relating to another Mortgage Loan that is cross collateralized with the Mortgage Loan) without the prior written consent of
the holder thereof. 
 (jj) The Borrower is not a debtor in any state or federal bankruptcy or insolvency proceeding.

 (kk) As of the date of origination or acquisition of the Mortgage by the applicable Originator, the Borrower, if not a
natural person, was duly organized and validly existing under the laws of the state of its jurisdiction. 
 (ll) The
Mortgage Loan contains provisions for the acceleration of the payment of the unpaid principal balance of the Mortgage Loan if, without complying with the requirements of the Mortgage Loan, the Mortgaged Property securing the Mortgage Loan, or any
controlling interest in the Borrower, is directly or indirectly transferred or sold. 
 (mm) The Loan Documents for the
Mortgage Loan provide that the Borrower is to provide periodic financial and operating reports including, without limitation, annual profit and loss statements, statements of cash flow and other related information that the Issuer reasonably
requests from time to time. 
 (nn) To the applicable Originator’s actual knowledge, based upon zoning letters, zoning
reports, the Title Policy insuring the lien of the Mortgage, historical use and/or other due diligence customarily performed by such Originator in connection with the origination of the Mortgage Loan, the improvements located on or forming
part of such Mortgaged Property securing the Mortgage Loan comply in all material respects with applicable zoning laws and ordinances (except to the extent that they may constitute legal non-conforming uses). 

  
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 (oo) Any Mortgaged Property securing the Mortgage Loan is located within one of the 50
United States or the District of Columbia. 
 (pp) With respect to the Mortgage Loan if secured by a Mortgaged Property
located in “seismic zones” 3 or 4, the Borrower or the Issuer (or an affiliate of the Issuer) has obtained, and is required under the Loan Documents to maintain, earthquake insurance with respect to the improvements on and forming a
part of such Mortgaged Property, or is required to cause the Tenant to maintain (and the Tenant has obtained) earthquake insurance if such Mortgaged Property is located in any such area. 

(qq) The applicable Originator does not have knowledge of any circumstance or condition with respect to such Mortgage Loan, the
Mortgaged Property securing the Mortgage Loan, the related Lease or the Borrower’s or the Tenant’s credit standing that could reasonably be expected to cause the Issuer to regard such Mortgage Loan as unacceptable security, cause such
Mortgage Loan or the related Lease to become delinquent or have a material adverse effect on the value or marketability of such Mortgage Loan. 
 (rr) The Mortgaged Property securing the Mortgage Loan has adequate rights of access to public rights-of-way and is served by utilities, including, without limitation, adequate water, sewer,
electricity, gas, telephone, sanitary sewer, and storm drain facilities. All public utilities necessary to the continued use and enjoyment of the Mortgaged Property securing the Mortgage Loan as presently used and enjoyed are located in such public
rights-of-way abutting such Mortgaged Property or are the subject of access easements for the benefit of the Mortgaged Property, and all such utilities are connected so as to serve such Mortgaged Property without passing over other property or are
the subject of access easements for the benefit of such Mortgaged Property. All roads necessary for the full use of the Mortgaged Property securing the Mortgage Loan for its current purpose have been completed and dedicated to public use and
accepted by all governmental authorities or are the subject of access easements for the benefit of such Mortgaged Property. 

(ss) With respect to any Mortgage Loan where all or a material portion of the Mortgaged Property securing such Mortgage Loan 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 letter or other writing received from the Ground Lessor
included in the related Loan File and, if applicable, the related Mortgage: 
 (1) The Ground Lease or a
memorandum regarding such Ground Lease has been duly recorded. The Ground Lessor has permitted the interest of the Ground Lessee to be encumbered by the related Mortgage. To the best of the applicable Originator’s or Issuer’s knowledge, as
applicable, 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 Loan File. 

  
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 (2) 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. 

(3) The Ground Lease has an original term (or an original term plus one or more optional renewal terms, which, under
all circumstances, can be exercised, and is enforceable, by the lender) that extends not less than 20 years beyond the stated maturity of the related Mortgage Loan. 

(4) Based on the Title Policy referenced in paragraph (e) above, the Ground Leasehold interest 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. 

(5) The Ground Lease is assignable to the lender and its assigns without the consent of the Ground Lessor thereunder.

 (6) The Ground Lease is in full force and effect and no default has occurred under the Ground Lease and
there is no existing condition which, but for the passage of time or the giving of notice, would result in a material default under the terms of the Ground Lease. 

(7) The Ground Lessor is required to give notice of any default by the related lessee to the lender. 

(8) The 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 Ground Lessor thereunder may terminate the Ground Lease. 
 (9) Either (i) the
Ground Lease does not impose restrictions on subletting or (ii) the Ground Lessor has consented to the existing Ground Lease with respect to the related Mortgaged Property securing the related Mortgage Loan. The Ground 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 material manner, which would adversely affect the security
provided by the related Mortgage. 
 (10) Any related insurance proceeds or condemnation award (other than
in respect of a total or substantially total loss or taking) is required to be applied either to the repair or restoration of all or part of the related Mortgaged Property, with the lender or a trustee appointed by it

  
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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. 
 (11) Any related insurance proceeds, or condemnation award in respect of a total or substantially total loss or taking of the related Mortgaged Property is required to 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 Ground Lessor under the Ground Lease has 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. 
 (12) Provided that the lender cures
any defaults which are susceptible to being cured, the Ground 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. 

(tt) With respect to Mortgage Loans originated after the Series Closing Date and with respect to any Qualified Substitute
Mortgage Loans purchased or substituted by the Issuer from a third party, each Mortgage Loan and the related Mortgaged Property securing the Mortgage Loan are required to be originated pursuant to the Indenture and the Property Management Agreement
in accordance with the related underwriting guidelines (subject to any material modifications approved by the Insurer), any Originator Form Documents or in accordance with a Borrower’s, Tenant’s or different form of document that
is otherwise approved by the applicable Originator on a case by case basis in a manner that provides such Originator to receive the substantive benefits intended to be realized under the material terms of the Originator Form Documents.

 (uu) The Mortgage Loan is not a construction loan. 

2. Mortgaged Properties and Leases. With respect to each Mortgaged Property (as identified in Schedule II-A), the
applicable Originator hereby represents and warrants, and the Issuers hereby represent and warrant with respect to any Mortgaged Properties pledged prior to the Series Closing Date or purchased or substituted by such Issuer from a third party
(subject to Section 2.05 of the Property Management Agreement), as of the date herein below specified or, if no such date is specified, as of the Series Closing Date, except as set forth on Schedule II hereto, that: 

  
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 (a) Such Originator or Issuer, as applicable, owns such Mortgaged Property or Lease
free and clear of any and all liens and other encumbrances except for the Permitted Exceptions. The following are “Permitted Exceptions” with respect to such Mortgaged Properties and Leases: (i) liens for real estate
taxes and special assessments not yet due and payable or due but not yet delinquent, (ii) covenants, conditions and restrictions, rights-of-way, easements and other matters of public record, such exceptions being of a type or nature that are
acceptable to mortgage lending institutions generally, (iii) those purchase options described under “Description of the Mortgage Loans, the Mortgaged Properties and the Leases—Terms Governing the Leases—Third Party Purchase
Option” in the related Private Placement Memorandum and (iv) other matters to which like properties are commonly subject, which matters referred to in clauses (i), (ii), (iii) and (iv) do not, individually or in the aggregate,
materially interfere with the value of such Mortgaged Property, or do not materially interfere or restrict the current use or operation of such Mortgaged Property relating to the Lease or do not materially interfere with the security intended to be
provided by any mortgage, the current use or operation of the Mortgaged Property or the current ability of the Mortgaged Property to generate net operating income sufficient to service the Lease. Financing Statements have been filed and/or recorded
(or, if not filed and/or recorded, have been submitted in proper form for filing and recording), in all public places necessary to perfect a valid first priority security interest in all items of personal property defined as part of the
Mortgaged Property and in all cases, subject to a purchase money security interest and to the extent perfection may be effected pursuant to applicable law solely by recording or filing Financing Statements. 

(b) The applicable Originator or Issuer (as applicable) has full right and authority to sell, contribute, assign, mortgage, pledge
and transfer its interest in such Lease and Mortgaged Property or, to the extent that consent of a Tenant is required, such consent has been obtained. 
 (c) The information set forth in the lease schedule (attached to the related Purchase and Sale Agreement) with respect to such Mortgaged Property and Lease was true and correct in all material
respects as of the related Transfer Date. 
 (d) Such Lease was not delinquent (giving effect to any applicable grace
period) in the payment of any Monthly Lease Payments (other than Percentage Rents that are being recalculated with respect to certain Leases set forth in the lease schedule attached to the related Purchase and Sale Agreement) as of the
Series Closing Date, and has not been during the time owned by the applicable Originator, 30 days or more delinquent in respect of any Monthly Lease Payment required thereunder. 

(e) Lessor estoppels containing protection provisions have been obtained from the owner of the fee simple interest in each Property
in which the applicable Originator or Issuer (as applicable) has only a ground leasehold interest. 
 (f) With respect to
the related Lease for the Mortgaged Property, (i) there exists no material default, breach or event of acceleration under the Lease or any other agreement, document or instrument executed in connection with such Lease, (ii) to

  
 24 

 
the applicable Originator’s or Issuer’s (as applicable) knowledge, there exists no event (other than payments due but not yet delinquent) that, with the passage of time or with notice
and the expiration of any grace or cure period, would constitute such a material default, breach or event of acceleration under the Lease, and (iii) there exists no material default, breach or event of acceleration under the Lease which such
Originator or Issuer, as applicable, as landlord, or its servicer is not pursuing to cure, resolve or otherwise pursue remedies under the Lease with diligence. 
 (g) Neither such Lease nor any other agreement, document or instrument executed in connection with such Lease has been waived, modified, altered, satisfied, cancelled or subordinated in any material
respect, and such Lease has not been terminated or cancelled, nor has any instrument been executed that would effect any such waiver, modification, alteration, satisfaction, termination, cancellation, subordination or release, except in each case by
a written instrument that is part of the related Lease File. 
 (h) The Mortgaged Property is covered by a Title
Policy, issued during the 6 months after the date of transfer thereof, in an amount at least equal to the initial Appraised Value of such Mortgaged Property. The Title Policy insures, as of the date of such policy, that the Collateral Agent has a
valid security interest in such Mortgaged Property, subject only to the Permitted Exceptions (to the extent stated therein); such Title Policy is in full force and effect and names the Collateral Agent as a mortgagee of record; as of the
Series Closing Date, all premiums for the Title Policy have been paid; and as of the Series Closing Date, no material claims have been made thereunder. The Title Policy has been issued by a company licensed to issue such policies in the
state in which such Mortgaged Property is located. 
 (i) The Lease is not a Defaulted Asset or a Delinquent Asset as of
the related Transfer Date. 
 (j) At commencement of the Lease, the Tenant had all material licenses, permits and material
agreements, including without limitation franchise agreements and certificates of occupancy, necessary for the operation and continuance of the Tenant’s business on the Mortgaged Property; and, to the best of the applicable Originator’s or
Issuer’s (as applicable) knowledge, (1) the Tenant is not in default of its obligations under any such applicable license, permit or agreement and (2) each such license, permit and agreement is in full force and effect. 

(k) The Tenant is not the subject of any bankruptcy or insolvency proceeding. 

(l) There are no pending actions, suits or proceedings by or before any court or governmental authority against or affecting, such
Lease, such Mortgaged Property or, to the applicable Originator’s knowledge, the Tenant, that is reasonably likely to be determined adversely and, if determined adversely, would materially and adversely effect the value of the Lease or use or
value of the Mortgaged Property, or the ability of the Tenant to pay any amounts due under the Lease. 

  
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 (m) All of the material improvements built or to be built on the Mortgaged Property
that were included for the purpose of determining the Appraised Value of the Mortgaged Property lay within the boundaries of such Mortgaged Property and there are no encroachments into the building setback restriction lines of such Mortgaged
Property in any way that would materially and adversely affect the value of the Mortgaged Property or the ability of the Tenant to pay any amounts due under the Lease (unless affirmatively covered in the applicable Title Policy described in
paragraph (h) above.) 
 (n) There are no delinquent or unpaid taxes or assessments, or other outstanding charges
affecting the Mortgaged Property that are or may become a lien of priority equal to or higher than the lien of the Mortgage in favor of the Indenture Trustee (or Collateral Agent on its behalf), other than such amounts that do not materially
and adversely affect the value of the Lease or use or value of the Mortgaged Property. For purposes of this representation and warranty, real property taxes and assessments shall not be considered unpaid until the date on which interest and/or
penalties would be payable thereon. 
 (o) There is no valid dispute, claim, offset, defense or counterclaim to the
applicable Originator’s or Issuer’s (as applicable) rights in the Lease. 
 (p) There is no proceeding pending
for the total or partial condemnation of the Mortgaged Property and the Mortgaged Property is free and clear of any damage that would materially and adversely affect the value or use of such Mortgaged Property. 

(q) The Lease or other agreement, document or instrument executed in connection with such Lease is the legal, valid and binding and
enforceable obligation of the Tenant (subject to certain creditors’ rights exceptions and other exceptions of general application) and is in full force and effect. 
 (r) Except for any Lease that permits the Tenant to self-insure, the Lease requires the Tenant to maintain (or make payment to the lessor to cover such premiums) in respect of the Mortgaged Property
insurance against loss by hazards (excluding flood and earthquake) and comprehensive general liability insurance in amounts generally required by the applicable Originator or the Issuer, as applicable, and in some cases (which may be only
required at such Originator’s or the Issuer’s request), business interruption or rental value insurance for at least 6 months; all of such insurance required under the Lease for such Mortgaged Property (including, without limitation, if
provided under a master insurance policy of the Issuer or an affiliate thereof) is in full force and effect and names such Originator or the Issuer (as applicable) or its respective successors and assigns as an additional insured; all premiums for
any insurance policies (including, without limitation, any applicable master insurance policy of the Issuer or an affiliate thereof) required to be paid as of the date of the related Purchase and Sale Agreement (or other applicable 

  
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acquisition date) have been paid; all of such insurance policies require prior notice to the lessor under the Lease of termination or cancellation, and as of the date of the related Purchase and
Sale Agreement (or other applicable acquisition date) no such notices have been received; in the event that the Tenant fails to maintain the insurance required thereunder, the Lease (or other applicable document) authorizes the lessor under the
Lease to maintain such insurance at the Tenant’s cost and expense and to seek reimbursement therefor from such Tenant. If such Mortgaged Property is located in flood zone area as identified by the Federal Emergency Management Agency as a 100
year flood zone or special hazard area, such Mortgaged Property is required under the Lease to be covered by insurance against loss by flood in amounts generally required by such Originator or the Issuer (as applicable) which insurance is in full
force and effect. With respect to any Lease that permits the related Tenant to self-insure, such Lease requires one of the following in order for such Tenant to self-insure: (i) the related Tenant to not be in default, and such Tenant or any
related Guarantor must either be a company listed on the NYSE with a rating of “NAIC-2” or better by the National Association of Insurance Commissioners; (ii) the related Tenant to not be in default and maintain a minimum tangible net
worth of at least $50,000,000; (iii) the related Tenant to maintain limits of not less than $2,000,000; or (iv) the related Tenant may self-insure up to $100,000 single limits per occurrence for each $10,000,000 of such Tenant’s
net worth as reflected on such Tenant’s most recent audited balance sheet. 
 (s) The Mortgaged Property was subject
to one or more environmental assessments or reports (or an update of a previously conducted assessment or report) and the applicable Originator or the Issuer (as applicable) has no knowledge of any material and adverse environmental conditions or
circumstance affecting such Mortgaged Property that were not disclosed in the related assessment or report(s). There are no material and adverse environmental conditions or circumstances affecting the Mortgaged Property other than, with respect to
any adverse environmental condition described in such report, those conditions for which remediation has been completed and, thereafter, to the extent that such report or remediation program so recommended: (i) a program of annual integrity
testing and/or monitoring was recommended and implemented in connection with the Mortgaged Property or an adjacent or neighboring property; (ii) an operations and maintenance plan or periodic monitoring of such Mortgaged Property or nearby
properties was recommended and implemented; or (iii) a follow-up plan was otherwise required to be taken under CERCLA or under regulations established thereunder from time to time by the Environmental Protection Agency, and such plan has been
implemented in the case of (i), (ii) and (iii) above. The applicable Originator or the Issuer (as applicable) determined in accordance with the related underwriting guidelines that adequate funding was available for such program or plan,
as applicable. Neither the applicable Originator nor the Issuer, as applicable, has taken any action with respect to the Mortgaged Property that would subject the Issuer, or its successors and assigns in respect of the Mortgaged Property, to any
liability under CERCLA or any other applicable federal, state or local environmental law, and neither such Originator or the Issuer (as applicable) has received any actual notice of a material violation of CERCLA or any other applicable
Environmental Law with respect to the Mortgaged Property that was not disclosed in the related report. The Lease requires the Tenant to comply with all applicable federal, state and local laws, including Environmental Laws. The Lease specifically
requires compliance with any Environmental Laws. For purposes of this paragraph (s), “Environmental Law” means any present federal, state and local laws, 

  
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statutes, ordinances, rules, regulations, standards, policies, consent decrees, consent or settlement agreements and other governmental directives or requirements, as well as common law, that
apply to the Mortgaged Property and relate to Hazardous Substances, including, without limitation, CERCLA and RCRA. For purposes of this paragraph (s), “Hazardous Substances” means: petroleum and petroleum products and
compounds containing them, including gasoline, diesel fuel and oil; explosives; flammable materials; radioactive materials; polychlorinated biphenyls (PCBs) and compounds containing them; lead and lead-based paint; asbestos or asbestos-containing
materials in any form that is or could become friable; underground or above-ground storage tanks, whether empty or containing any substance; any substance the presence of which on the Mortgaged Property is regulated by or prohibited by any
federal, state or local authority; any substance that requires special handling; and any other material, substance or waste now or in the future defined as a “hazardous substance,” “hazardous material,” “hazardous
waste,” “toxic substance,” “toxic pollutant,” “contaminant,” “pollutant” or other words of similar import within the meaning of any Environmental Law. 

(t) Such Mortgaged Property is free and clear of any mechanics’ and materialmen’s liens or liens in the nature thereof
that would materially and adversely affect the value, use or operation of such Mortgaged Property except those that are insured against by the Title Policy referred to in paragraph (h) above. 

(u) The Lease, together with applicable state law, contains customary and enforceable provisions such as to render the rights and
remedies of the lessors thereof adequate for the practical realization against the related Mortgaged Property of the principal benefits of the security intended to be provided thereby. 

(v) With respect to each Mortgaged Property: 

(1) such Mortgaged Property is not subject to any lease other than a sublease and/or the related Lease; no person has
any possessory interest in, or right to occupy, the leased property except under and pursuant to the Lease or such sublease; the Tenant (or sub-tenant) is in occupancy of the Mortgaged Property and is paying rent pursuant to the Lease; and, in the
case of any sublease, the Tenant remains primarily liable on the Lease; 
 (2) except with respect to those
Mortgaged Properties with respect to which the Tenant can terminate the related Lease during the last 42 months of the lease term in the event of a casualty and any insurance proceeds related thereto are payable to the Tenant, the obligations of the
Tenant, including, but not limited to, the obligation to pay fixed and additional rent, are not affected by reason of: any damage to or destruction of any portion of the leased property; any taking of the leased property or any part thereof by
condemnation or otherwise; or any prohibition, limitation, interruption, cessation, restriction, prevention or interference of the Tenant’s use, occupancy or enjoyment of the leased property, except the Tenant’s rights to abate or
terminate its obligation to pay fixed or 

  
 28 

 additional rent are coupled with insurance proceeds or condemnation awards going to the
lessor; or the right to abate as a result of a landlord’s default; 
 (3) neither the applicable
Originator nor the Issuer (as applicable), as lessor under the Lease, has any monetary obligations under the Lease that has not been satisfied; 
 (4) the Tenant has not been released, in whole or in part, from its obligations under the terms of the Lease; 
 (5) all obligations related to the initial construction of the improvements on the Mortgaged Property have been satisfied and, except for the obligation to rebuild such improvements after a casualty
(which obligation is limited by available insurance proceeds), the applicable Originator or the Issuer (as applicable) does not have any nonmonetary obligations under the Lease and has made no representation or warranty under the Lease, the breach
of which would result in the abatement of rent, a right of setoff or termination of the Lease; 
 (6) there
is no right of rescission, set-off, abatement (except in the case of casualty or condemnation), diminution, defense or counterclaim to the Lease, nor does the operation of any of the terms of the Lease, or the exercise of any rights thereunder,
render the Lease unenforceable, in whole or in part, or subject to any right of rescission, set-off, abatement, diminution, defense or counterclaim, and no such right has been asserted; 

(7) the Tenant has agreed to indemnify the lessor from any claims of any nature relating to the Lease and the related
Mortgaged Property other than the lessor’s gross negligence or willful misconduct, including, without limitation, arising as a result of violations of environmental and hazardous waste laws resulting from the Tenant’s operation of the
property; 
 (8) any obligation or liability imposed on the lessor by any easement or reciprocal easement
agreement is also an obligation of the Tenant under the Lease; 
 (9) the Tenant is required to make rental
payments as directed by the lessor and its successors and assigns; and 
 (10) except in certain cases where
the Tenant may exercise a right of first refusal, the Lease is freely assignable by the lessor and its successors and assigns to any person without the consent of the Tenant, and in the event the lessor’s interest is so assigned, the
Tenant is obligated to recognize the assignee as lessor under such Lease, whether under the Lease or by operation of law. 

  
 29 

 (w) In connection with Leases with a Guaranty: 

(1) such Guaranty, on its face, is unconditional, irrevocable and absolute, and is a guaranty of payment and not
merely of collection and contains no conditions to such payment, other than a notice and right to cure; and the Guaranty provides that it is the guaranty of both the performance and payment of the financial obligations of the Tenant under the Lease
and does not provide for offset, counterclaim or defense; and 
 (2) such Guaranty is binding on the
successors and assigns of the guarantor and inures to the benefit of the lessor’s successors and assigns and cannot be released or amended without the lessor’s consent or unless a predetermined performance threshold is achieved.

 (x) No fraudulent acts were committed by the applicable Originator or the Issuer (as applicable) during the origination
process with respect to the Lease related to such Mortgaged Property. 
 (y) In connection with the acquisition of each
Mortgaged Property, the applicable Originator or the Issuer (as applicable) inspected or caused to be inspected the Mortgaged Property by inspection, appraisal or otherwise as required in such underwriting guidelines then in effect. 

(z) The origination, servicing and collection of Monthly Lease Payments on such Lease is in all respects legal, proper and prudent
and in accordance with customary industry standards. 
 (aa) To the extent required under applicable law, the applicable
Originator or the Issuer (as applicable) was authorized to transact and do business in the jurisdiction in which such Mortgaged Property is located, except where such failure to qualify would not result in a material adverse effect on the
enforceability of the related Lease. 
 (bb) The Mortgaged Property has adequate rights of access to public rights-of-way
and is served by utilities, including, without limitation, adequate water, sewer, electricity, gas, telephone, sanitary sewer, and storm drain facilities. All public utilities necessary to the continued use and enjoyment of the Mortgaged Property as
presently used and enjoyed are located in the public right-of-way abutting the Mortgaged Property or are the subject of access easements for the benefit of the Mortgaged Property, and all such utilities are connected so as to serve the Mortgaged
Property without passing over other property or are the subject of access easements for the benefit of the Mortgaged Property. All roads necessary for the full use of the Mortgaged Property for its current purpose have been completed and dedicated
to public use and accepted by all governmental authorities or are the subject of access easements for the benefit of the Mortgaged Property. 

  
 30 

 (cc) The Lease File contains a survey with respect to such Mortgaged Property, which
survey was deemed sufficient to delete the standard title survey exception (to the extent the deletion of such exception is available in the related state). 
 (dd) With respect to any Mortgaged Property in which the applicable Originator’s or the Issuer’s (as applicable) interest in such Mortgaged Property is under a Ground Lease, based upon the
terms of the related Ground Lease or an estoppel letter or other writing received from the Ground Lessor and included in the related Lease File: 
 (1) The Ground Lease or a memorandum regarding such Ground Lease has been duly recorded. The Ground Lessor has permitted the interest of the related lessee to be encumbered by the related Lease and
the Mortgage filed for the benefit of the Indenture Trustee or the Collateral Agent on its behalf. To the best of such Originator’s or the Issuer’s knowledge, as applicable, 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 Lease File. 

(2) The Ground Lease may not be amended, modified, canceled or terminated without the prior written consent of
the lender and any such action without such consent is not binding on the lender, its successors or assigns. 

(3) The Ground Lease has an original term (or an original term plus one or more optional renewal terms, which, under
all circumstances, can be exercised, and is enforceable, by the lender) that extends not less than 20 years beyond the stated term of the related Lease. 
 (4) Based on the Title Policy referenced in paragraph (h) above, the Ground Lease interest is not subject to any liens or encumbrances superior to, or of equal priority with, the related
Mortgage, subject to permitted encumbrances and liens that encumber the Ground Lessor’s fee interest. 

(5) The Ground Lease is assignable to the lender and its assigns without the consent of the Ground Lessor thereunder.

 (6) The Ground Lease is in full force and effect and no default has occurred under the Ground Lease and
there is no existing condition which, but for the passage of time or the giving of notice, would result in a material default under the terms of the Ground Lease. 

(7) The Ground Lessor is required to give notice of any default by the related lessee to the lender. 

(8) The 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 

  
 31 

 
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 Ground
Lessor may terminate the Ground Lease. 
 (9) Either (i) the Ground Lease does not impose
restrictions on subletting or (ii) the Ground Lessor has consented to the existing Lease with respect to the related Mortgaged Property. The Ground 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 material manner, which would adversely affect the security provided by the related Mortgage. 

(10) Any related insurance proceeds or condemnation award (other than in respect of a total or substantially total
loss or taking) are required to be applied either to the repair or restoration of all or part of the related Mortgaged Property, except that in the case of condemnation awards, the Ground Lessor may be entitled to a portion of such award.

 (11) The lessee does not have an option to terminate or modify the Ground Lease without the prior written
consent of the Ground Lessor as a result of any casualty or partial condemnation of the Mortgaged Property, except to provide for an abatement of the rent. 
 (12) Provided that the lender cures any defaults which are susceptible to being cured, the Ground 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. 
 (ee) With respect to any Mortgaged Property and
Lease originated or acquired after the Series Closing Date and with respect to any Qualified Substitute Mortgaged Properties purchased or substituted by the Issuer from a third party (subject to exceptions scheduled and set forth in the related
Purchase and Sale Agreement, or in an exception schedule approved by the Requisite Global Majority in connection with any substitution of a Qualified Substitute Mortgaged Property), the Mortgaged Property and Lease are required to be originated
or acquired pursuant to the Indenture and the Property Management Agreement in accordance with the related underwriting guidelines (subject to any material modifications approved by the Insurer) and in all material respects and in substantive
compliance with the Originator Form Documents or in accordance with a seller’s or Tenant’s form of document that is otherwise approved by the applicable Originator or the Issuer, as applicable, and its counsel on a case-by-case
basis in a manner that provides for such Originator or the Issuer, as applicable, to receive the substantive benefits intended to be realized under the terms of the Originator Form Documents. 

(ff) No adverse selection was employed in selecting such Lease. 

  
 32 

 (gg) With respect to any Mortgaged Property which is the subject of a Master Lease (noting
that not all properties subject to such Master Lease are included as Mortgaged Properties in the Collateral Pool), the lessor under the Master Lease has assigned its interest in the Lease in the Collateral Pool to the applicable Originator and such
Originator and the other lessors under such Master Lease have entered into inter-lessor agreements by which the rents and the rights to enforce the provisions of such Master Lease pertinent to any of the Mortgaged Properties have also been assigned
to such Originator. 
 (hh) Such Mortgaged Property is (i) free of any damage that would materially and adversely affect
the use or value of such Mortgaged Property and (ii) in good repair and condition so as not to materially and adversely affect the use or value of such Mortgaged Property; and all building systems contained in such Mortgaged Property are in
good working order so as not to materially and adversely affect the use or value of such Mortgaged Property. 
 (ii) All
security deposits collected in connection with such Mortgaged Property are being held in accordance with all applicable laws. 

(jj) To the applicable Originator’s or the Issuer’s actual knowledge, as applicable, based upon zoning letters, zoning reports,
the Title Policy, historical use and/or other due diligence customarily performed by such party in connection with the acquisition of the Mortgaged Property, the improvements located on or forming part of such Mortgaged Property comply in all
material respects with applicable zoning laws and ordinances (except to the extent that they may constitute legal non-conforming uses), including the existence of a certificate of occupancy. 

3. Equipment Loans. With respect to each Equipment Loan (as identified in Schedule III-A), the applicable Originator
hereby represents and warrants, and the Issuers hereby represent and warrant with respect to any Equipment Loan pledged prior to the Series Closing Date or purchased or substituted by such Issuer from a third party (subject to Section 2.05
of the Property Management Agreement), as of the date herein below specified or, if no such date is specified, as of the Series Closing Date, except as set forth on Schedule III hereto, that: 

(a) Immediately prior to the transfer and assignment of the Equipment Loan to the Issuer, the applicable Originator had good and
insurable fee title to, and was the sole owner and holder of, the Equipment Loan, free and clear of any and all liens, encumbrances and other interests on, in or to the Equipment Loan. Such transfer and assignment from the applicable Originator to
the Issuer of the Equipment Loan by collateral assignment and by individual allonges of the related Equipment Loan notes and assignments of the related security agreements in blank validly assigns all of the applicable Originator’s right, title
and ownership of the Equipment Loan to the Issuer (and, with respect to the related security agreement, to the Collateral Agent) free and clear of any pledge, lien, encumbrance or security interest. 

  
 33 

 (b) The applicable Originator has full right and authority to sell, contribute, assign and
transfer the Equipment Loan to the Issuer. The entire agreement with the applicable Originator (whether originated by such Originator or a different originator) is contained in the Loan Documents and there are no warranties, agreements or options
regarding such Equipment Loan or the related secured equipment not set forth therein. Other than the Loan Documents, there are no agreements between any predecessor in interest in the Equipment Loan and the Borrower. 

(c) The information pertaining to the Equipment Loan set forth in the equipment loan schedule attached to the related Purchase and
Sale Agreement was true and correct in all material respects as of the related Transfer Date. The Equipment Loan was originated or acquired in accordance with, and fully complies with, the related underwriting guidelines in all material respects.
The related Loan File contains all of the documents and instruments required to be contained therein. 
 (d) [Reserved].

 (e) [Reserved]. 
 (f) The applicable Originator has not waived any material default, breach, violation or event of acceleration existing under the related security agreement or Equipment Loan note. 

(g) [Reserved]. 

(h) There is no valid offset, defense or counterclaim to the payment or performance obligations of the Equipment Loan. 

(i) The secured equipment securing any Equipment Loan is free and clear of any damage that would materially and adversely affect its
value as security for the Equipment Loan. 
 (j) The Equipment Loan complied with all applicable usury laws in effect at its
date of origination. 
 (k) The proceeds of the Equipment Loan have been fully disbursed and there is no requirement for future
advances thereunder. All costs, fees and expenses incurred in making, closing and recording the Equipment Loan, including, but not limited to, security agreement recording taxes and recording and filing fees relating to the origination of such
Equipment Loan, have been paid. Any and all requirements as to completion of any on-site or off-site improvement by the Borrower and as to disbursements of any escrow funds therefor that were to have been complied with have been complied with.

 (l) The Borrower under the related Equipment Loan note, security agreement and all other Loan Documents had the power,
authority and legal capacity to enter into, execute and deliver the same, and, as applicable, such Equipment Loan note, security agreement and Loan Documents have been duly authorized, properly executed

  
 34 

 
and delivered by the parties thereto, and each is the legal, valid and binding obligation of the maker thereof (subject to any non-recourse provisions contained in any of the foregoing agreements
and any applicable state anti-deficiency legislation), enforceable in accordance with its terms, except as such enforcement may be limited by bankruptcy, insolvency, reorganization, receivership, moratorium or other laws relating to or
affecting the rights of creditors generally and by general principles of equity (regardless of whether such enforcement is considered in a proceeding in equity or at law). 
 (m) [Reserved]. 
 (n) [Reserved]. 

(o) The Equipment Loan is not cross-collateralized with any other Equipment Loan that is not included in the Collateral Pool. 

(p) The terms of the related security agreement, Equipment Loan note and other Loan Documents have not been impaired, waived, altered,
modified, satisfied, canceled or subordinated in any material respect, except by written instruments that are part of the Loan File, recorded or filed in the applicable public office if necessary to maintain the priority of the lien of the
related security agreement, delivered to the Issuer or its designee. 
 (q) There are no delinquent taxes or other similar
outstanding lienable charges affecting the secured equipment which are or may become a lien of priority equal to or higher than the lien of the related security agreement. For purposes of this representation and warranty, personal property
taxes and assessments shall not be considered unpaid until the date on which interest and/or penalties would be payable thereon. 
 (r) [Reserved]. 
 (s) Each Equipment Loan is a whole loan and not a participation
interest. 
 (t) [Reserved]. 
 (u) All escrow deposits relating to the Equipment Loan that are required to be deposited with the applicable Originator or its agent have been so deposited. 

(v) [Reserved]. 

(w) [Reserved] 

(x) (i) There exists no material default, breach or event of acceleration under the Equipment Loan or any of the Loan Documents or
any related Lease, (ii) there exists no event (other than payments due but not yet delinquent) that, with the passage of time or with notice and the expiration of any grace or cure period, would constitute such

  
 35 

 
a material default, breach or event of acceleration and (iii) no payment on any Equipment Loan is, or has previously been during any time owned by the applicable Originator or the Issuer, 30
or more days delinquent; provided, however, that this representation and warranty does not cover any default, breach or event of acceleration that specifically pertains to any matter otherwise covered or addressed by any other representation and
warranty made by the applicable Originator with respect to the Equipment Loans. 
 (y) [Reserved]. 

(z) The Equipment Loan contains no equity participation by or shared appreciation rights in the lender or beneficiary under the related
security agreement, and does not provide for any contingent or additional interest in the form of participation in the cash flow of the secured equipment securing the Equipment Loan, or for negative amortization. 

(aa) No holder of the Equipment Loan has advanced funds or induced, solicited or knowingly received any advance of funds from a party
other than the owner of the secured equipment securing the Equipment Loan, directly or indirectly, for the payment of any amount required by the Equipment Loan. 
 (bb) To the applicable Originator’s knowledge, based on due diligence customarily performed in the origination or acquisition of comparable equipment loans by such Originator, as of the date of
origination or acquisition of the Equipment Loan, the related Borrower was in compliance with all applicable laws relating to the ownership and operation of the Equipment securing the Equipment Loan as then operated and was in possession of all
material licenses, permits and authorizations required by applicable laws for the ownership and operation of such Equipment as operated. 
 (cc) The origination, servicing and collection practices the applicable Originator used with respect to the Equipment Loan since such Originator’s origination or acquisition thereof, have complied
with applicable law in all material respects and are consistent and in accordance with the terms of the related Loan Documents and in accordance with the applicable servicing standard and customary industry standards. 

(dd) The related security agreement or Equipment Loan note, together with applicable state law, contains customary and enforceable
provisions (subject to the exceptions set forth in paragraph (l) above) such as to render the rights and remedies of the holders thereof adequate for the practical realization against the secured equipment securing the Equipment Loan of the
principal benefits of the security intended to be provided thereby, including the right of foreclosure under the laws of the state in which the secured equipment securing the Equipment Loan is located [governing foreclosures of security agreements
and deeds of trust under power of sale]. 
 (ee) [Reserved]. 

(ff) There are no actions, suits, legal, arbitration or administrative proceedings or investigations by or before any court or
governmental authority or, to the best of the applicable Originator’s knowledge, pending against or affecting the Borrower 

  
 36 

 
the secured equipment securing the Equipment Loan that, if determined adversely to such Borrower or secured equipment securing the Equipment Loan, would materially and adversely affect the value
of the secured equipment securing the Equipment Loan or the ability of the Borrower to pay principal, interest or any other amounts due under the Equipment Loan or the related Lease, as applicable. 

(gg) [Reserved]. 
 (hh) [Reserved]. 
 (ii) The related security agreement does not permit the secured
equipment securing the Equipment Loan to be encumbered by any lien junior to or of equal priority with the lien of such security agreement (excluding any lien relating to another Equipment Loan that is cross collateralized with the Equipment Loan)
without the prior written consent of the holder thereof. 
 (jj) The Borrower is not a debtor in any state or federal bankruptcy
or insolvency proceeding. 
 (kk) As of the date of origination or acquisition of the Equipment Loan by the applicable
Originator, the Borrower, if not a natural person was duly organized and validly existing under the laws of the state of its jurisdiction. 
 (ll) [Reserved]. 
 (mm) [Reserved]. 

(nn) [Reserved]. 
 (oo) Any secured equipment is located within one of the 50 United States or the District of Columbia. 
 (pp) [Reserved]. 
 (qq) The applicable Originator does not have knowledge of any
circumstance or condition with respect to the Equipment Loan, the secured equipment securing the Equipment Loan or the Borrower’s credit standing that could reasonably be expected to cause the Issuer to regard such Equipment Loan as
unacceptable security, cause such Equipment Loan to become delinquent or have a material adverse effect on the value or marketability of such Equipment Loan. 
 (rr) [Reserved]. 
 (ss) [Reserved]. 

(tt) With respect to any Equipment Loan originated after the Series Closing Date and with respect to any Qualified Substitute
Mortgage Loan purchased or substituted by the Issuer from a third party, the Equipment Loan and the related secured 

  
 37 

 
equipment securing the Equipment Loan are required to be originated pursuant to the Indenture and the Property Management Agreement in accordance with the related underwriting guidelines (subject
to any material modifications approved by the Insurer), the Originator Form Documents or in accordance with a Borrower’s or a different form of document that is otherwise approved by the Issuer on a case by case basis in a manner that
provides for the Issuer to receive the substantive benefits intended to be realized under the material terms of the Originator Form Documents. 

  
 38 

 SCHEDULE I-A 

MORTGAGE LOANS 
 Mortgages 
  

															
	 Property ID
	 	 Obligor
	 	 Concept
	 	 Address 1
	 	 City
	 	ST	 	 Zip Code
	 	 Investment
Type

								
	P0000981	 	Taco Bueno Restaurants, Inc.	 	Taco Bueno	 	1321 Desiree Lane	 	Hurst	 	TX	 	74145-4818	 	Mortgage
								
	P0000982	 	Taco Bueno Restaurants, Inc.	 	Taco Bueno	 	2307 S Cooper St	 	Arlington	 	TX	 	76015-1602	 	Mortgage
								
	P0000983	 	Taco Bueno Restaurants, Inc.	 	Taco Bueno	 	5600 Camp Bowie Blvd	 	Fort Worth	 	TX	 	76107-5119	 	Mortgage
								
	P0000984	 	Taco Bueno Restaurants, Inc.	 	Taco Bueno	 	1528 Brown Trl	 	Bedford	 	TX	 	76021-5343	 	Mortgage
								
	P0000985	 	Taco Bueno Restaurants, Inc.	 	Taco Bueno	 	7436 E Admiral Pl	 	Tulsa	 	OK	 	74115-7913	 	Mortgage
								
	P0000986	 	Taco Bueno Restaurants, Inc.	 	Taco Bueno	 	8601 Highway 80 W	 	Fort Worth	 	TX	 	76116-6101	 	Mortgage
								
	P0000987	 	Taco Bueno Restaurants, Inc.	 	Taco Bueno	 	205 Spur 350	 	Euless	 	TX	 	76040-4583	 	Mortgage
								
	P0000988	 	Taco Bueno Restaurants, Inc.	 	Taco Bueno	 	4117 Buffalo Gap Rd	 	Abilene	 	TX	 	79605-7233	 	Mortgage
								
	P0000989	 	Taco Bueno Restaurants, Inc.	 	Taco Bueno	 	5748 SW Green Oaks Blvd	 	Arlington	 	TX	 	76017-1201	 	Mortgage
								
	P0000990	 	Taco Bueno Restaurants, Inc.	 	Taco Bueno	 	1550 W University Dr	 	Denton	 	TX	 	76201-1790	 	Mortgage
								
	P0000991	 	Taco Bueno Restaurants, Inc.	 	Taco Bueno	 	6350 Lake Worth Blvd	 	Lake Worth	 	TX	 	76135-3102	 	Mortgage
								
	P0000992	 	Taco Bueno Restaurants, Inc.	 	Taco Bueno	 	8611 S Lewis Ave	 	Tulsa	 	OK	 	74137-3206	 	Mortgage
								
	P0000993	 	Taco Bueno Restaurants, Inc.	 	Taco Bueno	 	5724 Broadway Blvd	 	Garland	 	TX	 	75043-5818	 	Mortgage
								
	P0000994	 	Taco Bueno Restaurants, Inc.	 	Taco Bueno	 	1113 W Northwest Hwy	 	Grapevine	 	TX	 	76051-5034	 	Mortgage
								
	P0000995	 	Taco Bueno Restaurants, Inc.	 	Taco Bueno	 	301 W Shawnee St	 	Muskogee	 	OK	 	74401-4152	 	Mortgage
								
	P0000996	 	Taco Bueno Restaurants, Inc.	 	Taco Bueno	 	2001 NW 23rd St	 	Oklahoma City	 	OK	 	73106-1203	 	Mortgage
								
	P0000997	 	Taco Bueno Restaurants, Inc.	 	Taco Bueno	 	7057 Ridgmar Meadow Rd	 	Fort Worth	 	TX	 	76116-1516	 	Mortgage
								
	P0000998	 	Taco Bueno Restaurants, Inc.	 	Taco Bueno	 	1210 W Will Rogers Blvd	 	Claremore	 	OK	 	74017-3426	 	Mortgage
								
	P0000999	 	Taco Bueno Restaurants, Inc.	 	Taco Bueno	 	1301 S Meridian Ave	 	Oklahoma City	 	OK	 	73108-1707	 	Mortgage
								
	P0001000	 	Taco Bueno Restaurants, Inc.	 	Taco Bueno	 	6112 S Garnett Rd	 	Broken Arrow	 	OK	 	74012-1217	 	Mortgage
								
	P0001001	 	Taco Bueno Restaurants, Inc.	 	Taco Bueno	 	2630 S Buckner Blvd	 	Dallas	 	TX	 	75227-6901	 	Mortgage
								
	P0001002	 	Taco Bueno Restaurants, Inc.	 	Taco Bueno	 	722 S Main St	 	Sapulpa	 	OK	 	74066-5104	 	Mortgage
								
	P0001003	 	Taco Bueno Restaurants, Inc.	 	Taco Bueno	 	5010 US Highway 277 S	 	Abilene	 	TX	 	79605-4543	 	Mortgage
								
	P0001004	 	Taco Bueno Restaurants, Inc.	 	Taco Bueno	 	3023 SW 29th St	 	Oklahoma City	 	OK	 	73119-1713	 	Mortgage
								
	P0001005	 	Taco Bueno Restaurants, Inc.	 	Taco Bueno	 	6834 Wesley St	 	Greenville	 	TX	 	75402-7303	 	Mortgage
								
	P0001006	 	Taco Bueno Restaurants, Inc.	 	Taco Bueno	 	2951 N Belt Line Rd	 	Irving	 	TX	 	75062-5248	 	Mortgage
								
	P0001007	 	Taco Bueno Restaurants, Inc.	 	Taco Bueno	 	5380 N Beach St	 	Haltom City	 	TX	 	76137-2730	 	Mortgage
								
	P0001008	 	Taco Bueno Restaurants, Inc.	 	Taco Bueno	 	5341 William D Tate Ave	 	Grapevine	 	TX	 	76051-7357	 	Mortgage
								
	P0001009	 	Taco Bueno Restaurants, Inc.	 	Taco Bueno	 	2404 Westport Pkwy	 	Fort Worth	 	TX	 	76177-5302	 	Mortgage
								
	P0001010	 	Taco Bueno Restaurants, Inc.	 	Taco Bueno	 	3204 SE Loop 820	 	Forest Hill	 	TX	 	76140-1107	 	Mortgage
								
	P0001011	 	Taco Bueno Restaurants, Inc.	 	Taco Bueno	 	3700 Eldorado Pkwy	 	McKinney	 	TX	 	75070-4228	 	Mortgage
								
	P0001012	 	Taco Bueno Restaurants, Inc.	 	Taco Bueno	 	5032 S Sheridan Rd	 	Tulsa	 	OK	 	74145-5714	 	Mortgage

 I-A-1 

															
	 Property ID
	 	 Obligor
	 	 Concept
	 	 Address 1
	 	 City
	 	ST	 	 Zip Code
	 	 Investment
Type

								
	P0001013	 	Taco Bueno Restaurants, Inc.	 	Taco Bueno	 	1725 W Owen K Garriott Rd	 	Enid	 	OK	 	73703-5604	 	Mortgage
								
	P0001014	 	Taco Bueno Restaurants, Inc.	 	Taco Bueno	 	2814 E 11th St	 	Tulsa	 	OK	 	74104-4113	 	Mortgage
								
	P0001015	 	Taco Bueno Restaurants, Inc.	 	Taco Bueno	 	2305 E Southlake Blvd	 	Southlake	 	TX	 	76092-6603	 	Mortgage
								
	P0001016	 	Advance Auto Parts, Inc.	 	Discount Auto Parts	 	1603 S Main St	 	Atmore	 	AL	 	36502-3501	 	Mortgage
								
	P0001017	 	Advance Auto Parts, Inc.	 	Discount Auto Parts	 	5605 E Rite Rd	 	Theodore	 	AL	 	36582-1665	 	Mortgage
								
	P0001018	 	Advance Auto Parts, Inc.	 	Discount Auto Parts	 	8300 NW 103rd St	 	Hialeah	 	FL	 	33016-2253	 	Mortgage
								
	P0001019	 	Advance Auto Parts, Inc.	 	Discount Auto Parts	 	615 N Dixie Fwy	 	New Smyrna Beach	 	FL	 	32168-6409	 	Mortgage
								
	P0001020	 	Advance Auto Parts, Inc.	 	Discount Auto Parts	 	7522 Southgate Blvd	 	Margate	 	FL	 	33068-1362	 	Mortgage
								
	P0001021	 	Advance Auto Parts, Inc.	 	Discount Auto Parts	 	5121 Powerline Rd	 	Fort Lauderdale	 	FL	 	33309-3156	 	Mortgage
								
	P0001022	 	Advance Auto Parts, Inc.	 	Discount Auto Parts	 	3012 W Hillsborough Ave	 	Tampa	 	FL	 	33614-5963	 	Mortgage
								
	P0001023	 	Advance Auto Parts, Inc.	 	Discount Auto Parts	 	10824 S US Highway 41	 	Gibsonton	 	FL	 	33534-4708	 	Mortgage
								
	P0001024	 	Advance Auto Parts, Inc.	 	Advance Auto Parts	 	2636 S Smithville Rd	 	Dayton	 	OH	 	45420-2642	 	Mortgage
								
	P0001025	 	Advance Auto Parts, Inc.	 	Advance Auto Parts	 	3210 Library Rd	 	Castle Shannon	 	PA	 	15234-2631	 	Mortgage
								
	P0001026	 	Advance Auto Parts, Inc.	 	Advance Auto Parts	 	3317 Agency St	 	Burlington	 	IA	 	52601-1959	 	Mortgage
								
	P0001027	 	Advance Auto Parts, Inc.	 	Discount Auto Parts	 	311 E Oakland Ave	 	Camilla	 	GA	 	31730-1969	 	Mortgage
								
	P0001028	 	Advance Auto Parts, Inc.	 	Discount Auto Parts	 	2815 Montgomery St	 	Savannah	 	GA	 	31405-3200	 	Mortgage
								
	P0001029	 	Advance Auto Parts, Inc.	 	Discount Auto Parts	 	1501 Manchester Expy	 	Columbus	 	GA	 	31904-6659	 	Mortgage
								
	P0001030	 	Advance Auto Parts, Inc.	 	Discount Auto Parts	 	203 W 6th St	 	Waynesboro	 	GA	 	30830-1461	 	Mortgage
								
	P0001031	 	Advance Auto Parts, Inc.	 	Discount Auto Parts	 	402 Columbia St	 	Blakeley	 	GA	 	31723-1703	 	Mortgage
								
	P0001032	 	Advance Auto Parts, Inc.	 	Discount Auto Parts	 	2196 US Highway 17	 	Richmond Hill	 	GA	 	31324-3671	 	Mortgage
								
	P0001033	 	Advance Auto Parts, Inc.	 	Discount Auto Parts	 	3602 Peach Orchard Rd	 	Augusta	 	GA	 	30906-9436	 	Mortgage
								
	P0001034	 	Advance Auto Parts, Inc.	 	Discount Auto Parts	 	760 E King Avenue	 	Kingsland	 	GA	 	31548-6317	 	Mortgage
								
	P0001035	 	Advance Auto Parts, Inc.	 	Discount Auto Parts	 	310 W Taylor St	 	Griffin	 	GA	 	30223-3029	 	Mortgage
								
	P0001036	 	Advance Auto Parts, Inc.	 	Discount Auto Parts	 	5621 Riverdale Dr	 	College Park	 	GA	 	30349-6443	 	Mortgage
								
	P0001037	 	Advance Auto Parts, Inc.	 	Discount Auto Parts	 	1496 US Highway 19	 	Leesburg	 	GA	 	31763-4834	 	Mortgage
								
	P0001038	 	Advance Auto Parts, Inc.	 	Discount Auto Parts	 	950 E Boston St	 	Covington	 	LA	 	70433-3282	 	Mortgage
								
	P0001039	 	Advance Auto Parts, Inc.	 	Advance Auto Parts	 	2602 Washington Ave	 	Alton	 	IL	 	62002-5466	 	Mortgage
								
	P0001040	 	Advance Auto Parts, Inc.	 	Advance Auto Parts	 	3510 Gravois Ave	 	Saint Louis	 	MO	 	63118-3504	 	Mortgage
								
	P0001041	 	Advance Auto Parts, Inc.	 	Discount Auto Parts	 	5060 Hardy St	 	Hattiesburg	 	MS	 	39402-1307	 	Mortgage
								
	P0001042	 	Advance Auto Parts, Inc.	 	Discount Auto Parts	 	300 US Highway 80 W	 	Clinton	 	MS	 	39056	 	Mortgage
								
	P0001043	 	Advance Auto Parts, Inc.	 	Discount Auto Parts	 	1259 Ellis Ave	 	Jackson	 	MS	 	39209-7328	 	Mortgage
								
	P0001044	 	Advance Auto Parts, Inc.	 	Discount Auto Parts	 	179 Sgt Prentiss Dr	 	Natchez	 	MS	 	39120-4733	 	Mortgage
								
	P0001045	 	Advance Auto Parts, Inc.	 	Discount Auto Parts	 	198 Northside Dr	 	Newton	 	MS	 	39345-9747	 	Mortgage

 I-A-2 

															
	 Property ID
	 	 Obligor
	 	 Concept
	 	 Address 1
	 	 City
	 	ST	 	 Zip Code
	 	 Investment
Type

								
	P0001046	 	Advance Auto Parts, Inc.	 	Discount Auto Parts	 	614 Central Ave W	 	Wiggins	 	MS	 	39577-2531	 	Mortgage
								
	P0001047	 	Advance Auto Parts, Inc.	 	Discount Auto Parts	 	550 E Baruch St	 	Denmark	 	SC	 	29042-1307	 	Mortgage
								
	P0000872	 	CBH2O	 	Camelback Ski Resort	 	#1 Camelback Road	 	Tannersville	 	PA	 	18372	 	Mortgage
								
	P0001125	 	ADF Companies	 	Pizza Hut	 	10401 S. US Highway 1	 	Port Saint Lucie	 	FL	 	34952-5645	 	Mortgage
								
	P0001126	 	ADF Companies	 	Pizza Hut	 	6170 Congress Ave	 	Lantana	 	FL	 	33462-2300	 	Mortgage
								
	P0001127	 	ADF Companies	 	Pizza Hut	 	670 S US Highway 1	 	Vero Beach	 	FL	 	32962-4507	 	Mortgage
								
	P0001128	 	ADF Companies	 	Pizza Hut	 	405 N. Main St	 	La Fayette	 	GA	 	30728-2423	 	Mortgage
								
	P0001129	 	ADF Companies	 	Pizza Hut	 	4607 N. Australian Ave	 	West Palm Beach	 	FL	 	33407-2303	 	Mortgage
								
	P0001130	 	ADF Companies	 	Pizza Hut	 	949 S. Main St	 	Belle Glade	 	FL	 	33430-3430	 	Mortgage
								
	P0001131	 	ADF Companies	 	Pizza Hut	 	2800 Congress Ave	 	Lake Worth	 	FL	 	33461-2136	 	Mortgage
								
	P0001132	 	ADF Companies	 	Pizza Hut	 	1112 N. Charles G. Seivers Blvd	 	Clinton	 	TN	 	37716-3937	 	Mortgage
								
	P0001133	 	ADF Companies	 	Pizza Hut	 	212 Cedar Lane	 	Knoxville	 	TN	 	37912-3507	 	Mortgage
								
	P0001134	 	ADF Companies	 	Pizza Hut	 	2795 Highway 441 S	 	Okeechobee	 	FL	 	34974-5839	 	Mortgage
								
	P0001135	 	ADF Companies	 	Pizza Hut	 	7504 Clinton Hwy	 	Powell	 	TN	 	37849-4105	 	Mortgage
								
	P0001136	 	ADF Companies	 	Pizza Hut	 	776 Mountain Creek Road	 	Chattanooga	 	TN	 	37405-1631	 	Mortgage
								
	P0001137	 	ADF Companies	 	Pizza Hut	 	6591 Forest Hill Blvd	 	West Palm Beach	 	FL	 	33413-3301	 	Mortgage
								
	P0001138	 	ADF Companies	 	Pizza Hut	 	407 New Highway 68	 	Sweetwater	 	TN	 	37874-1907	 	Mortgage
								
	P0001139	 	ADF Companies	 	Pizza Hut	 	629 N. Main Street	 	Crossville	 	TN	 	38555-6012	 	Mortgage
								
	P0001140	 	ADF Companies	 	Pizza Hut	 	375 Hannum St	 	Alcoa	 	TN	 	37701-2452	 	Mortgage
								
	P0001141	 	ADF Companies	 	Pizza Hut	 	2418 Airport Hwy	 	Alcoa	 	TN	 	37701-3188	 	Mortgage
								
	P0001142	 	ADF Companies	 	Pizza Hut	 	7410 Rhea County Hwy	 	Dayton	 	TN	 	37321-5910	 	Mortgage
								
	P0001143	 	ADF Companies	 	Pizza Hut	 	10043 Dayton Pike	 	Soddy Daisy	 	TN	 	37379-5004	 	Mortgage
								
	P0001144	 	ADF Companies	 	Pizza Hut	 	354 Kimball Crossing	 	Kimball	 	TN	 	37347-5627	 	Mortgage
								
	P0001145	 	ADF Companies	 	Pizza Hut	 	1215 Congress Parkway NW	 	Athens	 	TN	 	37303-1704	 	Mortgage
								
	P0001146	 	ADF Companies	 	Pizza Hut	 	1624 S. Roane St	 	Harriman	 	TN	 	37748-7536	 	Mortgage
								
	P0001147	 	ADF Companies	 	Pizza Hut	 	290 S. Main St	 	Trenton	 	GA	 	30752	 	Mortgage
								
	P0001148	 	ADF Companies	 	Pizza Hut	 	430 Highway 411 S	 	Chatsworth	 	GA	 	30705-5859	 	Mortgage
								
	P0001149	 	ADF Companies	 	Pizza Hut	 	5454 Alabama Hwy	 	Ringgold	 	GA	 	30736-2438	 	Mortgage
								
	P0001150	 	ADF Companies	 	Pizza Hut	 	3428 N. Broadway St	 	Knoxville	 	TN	 	37917-2737	 	Mortgage
								
	P0001151	 	ADF Companies	 	Pizza Hut	 	7343 Chapman Hwy	 	Knoxville	 	TN	 	37920-6682	 	Mortgage
								
	P0001152	 	ADF Companies	 	Pizza Hut	 	3115 45th Street	 	West Palm Beach	 	FL	 	33407-1915	 	Mortgage

 I-A-3 

 SCHEDULE I 

MORTGAGE LOAN EXCEPTIONS 

Ground Lease 
  

													
	 Property ID
	 	 Asset/Property Name
	 	 Address
	 	City	 	ST	 	Zip Code	 	 Clarification/Other

Issues

							
	P0000872	 	Camelback Ski Mountain	 	#1 Camelback Road	 	Tannersville	 	PA	 	18372	 	Does not meet representations of section (ss)(3)(5) and (12)

 I-1 

 SCHEDULE II-A 

PROPERTIES 

Leases 
  

															
	 Property ID
	  	 Obligor
	  	 Concept
	  	 Address 1
	  	 City
	  	 ST
	  	 Zip Code
	  	 Investment

Type

	 P0000891
	  	Flying J. Inc.	  	Flying J Travel Plaza	  	950 State Road 206 West	  	Saint Augustine	  	FL	  	32086	  	Lease
	 P0000892
	  	Flying J. Inc.	  	Flying J Travel Plaza	  	10226 Old Federal Highway	  	Carnesville	  	GA	  	30521	  	Lease
	 P0000893
	  	Flying J. Inc.	  	Flying J Travel Plaza	  	5300 S SR 3	  	Spiceland	  	IN	  	47385	  	Lease
	 P0000894
	  	Flying J. Inc.	  	Flying J Travel Plaza	  	15236 State Route 180	  	Catlettsburg	  	KY	  	41129-9211	  	Lease
	 P0000895
	  	America’s Power Sports	  	KC’s Powersports	  	12401 S. Memorial Parkway	  	Huntsville	  	AL	  	35803	  	Lease
	 P0000896
	  	Barnhill’s Buffet, Inc.	  	Barnhill’s Buffet	  	3075 Gulf Breeze Parkway	  	Gulf Breeze	  	FL	  	32561	  	Lease
	 P0000897
	  	Barnhill’s Buffet, Inc.	  	Barnhill’s Buffet	  	431 Mary Esther Blvd	  	Mary Esther	  	FL	  	32569	  	Lease
	 P0000898
	  	Barnhill’s Buffet, Inc.	  	Barnhill’s Buffet	  	1117 Hwy 231 Bypass	  	Troy	  	AL	  	36081	  	Lease
	 P0000899
	  	Barnhill’s Buffet, Inc.	  	Barnhill’s Buffet	  	1701 South Texas Avenue	  	Bryan	  	TX	  	77801	  	Lease
	 P0000900
	  	Barnhill’s Buffet, Inc.	  	Barnhill’s Buffet	  	625 18th Avenue North	  	Columbus	  	MS	  	39701	  	Lease
	 P0000901
	  	Barnhill’s Buffet, Inc.	  	Barnhill’s Buffet	  	2167 E. Silver Springs Blvd	  	Ocala	  	FL	  	34470	  	Lease
	 P0000902
	  	Barnhill’s Buffet, Inc.	  	Barnhill’s Buffet	  	3814 University Boulevard West	  	Jacksonville	  	FL	  	32217	  	Lease
	 P0000903
	  	Barnhill’s Buffet, Inc.	  	Barnhill’s Buffet	  	2611 US 27 North	  	Sebring	  	FL	  	33872	  	Lease
	 P0000904
	  	Barnhill’s Buffet, Inc.	  	Barnhill’s Buffet	  	100 Live Oaks Boulevard	  	Casselberry	  	FL	  	32707	  	Lease
	 P0000905
	  	Hastings Entertainment, Inc.	  	Hastings	  	726 10th Avenue South	  	Great Falls	  	MT	  	59401	  	Lease
	 P0000906
	  	AMC Entertainment, Inc.	  	AMC Theatre	  	2515 E. Camelback Road	  	Phoenix	  	AZ	  	85016	  	Lease
	 P0000907
	  	Pike Holding Nursery LLC	  	Pike Plant Nursery	  	5795 State Bridge Road	  	Alpharetta	  	GA	  	30022	  	Lease
	 P0000908
	  	Pike Holding Nursery LLC	  	Pike Plant Nursery	  	3431 Ernest W. Barrett Pkwy	  	Marietta	  	GA	  	30064	  	Lease
	 P0000909
	  	Pike Holding Nursery LLC	  	Pike Plant Nursery	  	3985 Holly Springs Pkwy	  	Canton	  	GA	  	30115	  	Lease
	 P0000910
	  	Pike Holding Nursery LLC	  	Pike Plant Nursery	  	4020 Roswell Road	  	Atlanta	  	GA	  	30342	  	Lease
	 P0000911
	  	Pike Holding Nursery LLC	  	Pike Plant Nursery	  	2955 Holcomb Bridge Road	  	Alpharetta	  	GA	  	30022	  	Lease
	 P0000912
	  	Pike Holding Nursery LLC	  	Pike Plant Nursery	  	2900 Johnson Ferry Road	  	Marietta	  	GA	  	30062	  	Lease
	 P0000913
	  	Grand Canyon University	  	Grand Canyon University	  	3300 West Camelback Rd.	  	Phoenix	  	AZ	  	85017	  	Lease
	 P0000300
	  	NPC International, Inc.	  	Pizza Hut	  	925 N Green River Rd	  	Evansville	  	IN	  	47715-2418	  	Lease
	 P0000301
	  	NPC International, Inc.	  	Pizza Hut	  	4127 Frederica St	  	Owensboro	  	KY	  	42301-7455	  	Lease
	 P0000302
	  	NPC International, Inc.	  	Pizza Hut	  	606 N 1st St	  	Madill	  	OK	  	73446-1410	  	Lease
	 P0000303
	  	NPC International, Inc.	  	Pizza Hut	  	1000 W Maple Ave	  	Geneva	  	AL	  	36340-1638	  	Lease
	 P0000304
	  	NPC International, Inc.	  	Pizza Hut	  	715 Columbia Rd	  	Blakely	  	GA	  	31723-1423	  	Lease
	 P0000305
	  	NPC International, Inc.	  	Pizza Hut	  	1119 Paris Rd	  	Mayfield	  	KY	  	42066-4988	  	Lease
	 P0000306
	  	Skyline Chili, Inc.	  	Skyline Chili	  	2805 Centre Dr	  	Fairborn	  	OH	  	45324-2670	  	Lease
	 P0000309
	  	Carrols Corporation	  	Burger King	  	349 Tryon Rd	  	Raleigh	  	NC	  	27603-3529	  	Lease
	 P0000310
	  	Carrols Corporation	  	Burger King	  	979 US Highway 70 E	  	New Bern	  	NC	  	28560-6535	  	Lease
	 P0000311
	  	Carrols Corporation	  	Burger King	  	1294 Canton Rd	  	Akron	  	OH	  	44312-3951	  	Lease
	 P0000312
	  	Carrols Corporation	  	Burger King	  	14834 State Route 49	  	Edon	  	OH	  	43518-9714	  	Lease
	 P0000313
	  	Max & Erma’s Restaurants, Inc.	  	Max & Erma’s	  	201 Bridewell Dr	  	Burr Ridge	  	IL	  	60521-0834	  	Lease

  
 II-A-1

															
	 Property ID
	  	 Obligor
	  	 Concept
	  	 Address 1
	  	 City
	  	 ST
	  	 Zip Code
	  	 Investment

Type

	 P0000314
	  	Max & Erma’s Restaurants, Inc.	  	Max & Erma’s	  	2240 N Canton Center Rd	  	Canton	  	MI	  	48187-2906	  	Lease
	 P0000315
	  	Max & Erma’s Restaurants, Inc.	  	Max & Erma’s	  	936 Sheraton Dr	  	Mars	  	PA	  	16046-9414	  	Lease
	 P0000316
	  	Max & Erma’s Restaurants, Inc.	  	Max & Erma’s	  	8901 Kingsridge Dr	  	Dayton	  	OH	  	45458-1621	  	Lease
	 P0000317
	  	Max & Erma’s Restaurants, Inc.	  	Max & Erma’s	  	6420 Grand Ave	  	Gurnee	  	IL	  	60031-1620	  	Lease
	 P0000318
	  	Max & Erma’s Restaurants, Inc.	  	Max & Erma’s	  	130 Andrews Dr	  	Pittsburgh	  	PA	  	15275-1200	  	Lease
	 P0000319
	  	Interfoods of America, Inc.	  	Popeye’s	  	1727 Finley Blvd	  	Birmingham	  	AL	  	35204-1736	  	Lease
	 P0000323
	  	Mexican Restaurants	  	Casa Mexico	  	1459 S Vinnell Way	  	Boise	  	ID	  	83709-1659	  	Lease
	 P0000324
	  	Banyan, Inc.	  	Grandy’s	  	1400 Juan Tabo Blvd NE	  	Albuquerque	  	NM	  	87112-4406	  	Lease
	 P0000326
	  	Interfoods of America, Inc.	  	Popeye’s	  	11413 Reulet Ave	  	Baton Rouge	  	LA	  	70816-8525	  	Lease
	 P0000327
	  	Burger King Corporation	  	Burger King	  	488 E Main St	  	Apopka	  	FL	  	32703-5374	  	Lease
	 P0000328
	  	Burger King Corporation	  	Burger King	  	2400 13th St	  	Saint Cloud	  	FL	  	34769-4136	  	Lease
	 P0000329
	  	Burger King Corporation	  	Burger King	  	11834 E Colonial Dr	  	Orlando	  	FL	  	32826-4701	  	Lease
	 P0000330
	  	R & L Foods, LLC	  	Wendy’s	  	2983 Cottingham Expy	  	Pineville	  	LA	  	71360-4389	  	Lease
	 P0000331
	  	Pennant Foods	  	Wendy’s	  	1219 Oak Ridge Tpke	  	Oak Ridge	  	TN	  	37830-6404	  	Lease
	 P0000332
	  	Pennant Foods	  	Wendy’s	  	2544 Decatur Pike	  	Athens	  	TN	  	37303-4929	  	Lease
	 P0000336
	  	Thomas & Thomas Investments	  	Whataburger	  	Loop 323 N of Highway 31	  	Tyler	  	TX	  	0	  	Lease
	 P0000338
	  	Tacala, L.L.C.	  	Taco Bell	  	2303 Dayton Blvd	  	Red Bank	  	TN	  	37415-6224	  	Lease
	 P0000349
	  	Skyline Chili, Inc.	  	Skyline Chili	  	9135 Owenfield Dr	  	Lewis Center	  	OH	  	43035-9149	  	Lease
	 P0000350
	  	Interfoods of America, Inc.	  	Popeye’s	  	361 Palisades Blvd	  	Birmingham	  	AL	  	35209-5149	  	Lease
	 P0000351
	  	Interfoods of America, Inc.	  	Popeye’s	  	2265 Oneal Ln	  	Baton Rouge	  	LA	  	70816-3319	  	Lease
	 P0000354
	  	Fuddruckers, Inc.	  	Fuddruckers	  	10050 State St	  	Sandy	  	UT	  	84070	  	Lease
	 P0000355
	  	Fuddruckers, Inc.	  	Fuddruckers	  	1915 Scenic Hwy N	  	Snellville	  	GA	  	30078	  	Lease
	 P0000356
	  	Fuddruckers, Inc.	  	Fuddruckers	  	5271 E Main St	  	Columbus	  	OH	  	43213	  	Lease
	 P0000357
	  	Fuddruckers, Inc.	  	Fuddruckers	  	6607 N IH 35	  	Austin	  	TX	  	78752	  	Lease
	 P0000358
	  	Fuddruckers, Inc.	  	Fuddruckers	  	3586 W Dublin Granville Rd	  	Columbus	  	OH	  	43235	  	Lease
	 P0000359
	  	Fuddruckers, Inc.	  	Fuddruckers	  	14035 E Evans Ave	  	Aurora	  	CO	  	80014	  	Lease
	 P0000360
	  	Fuddruckers, Inc.	  	Fuddruckers	  	3929 Southwest Fwy	  	Houston	  	TX	  	77027	  	Lease
	 P0000361
	  	Fuddruckers, Inc.	  	Fuddruckers	  	11825 Technology Dr	  	Eden Prairie	  	MN	  	55344	  	Lease
	 P0000362
	  	Fuddruckers, Inc.	  	Fuddruckers	  	6455 E Southern Ave	  	Mesa	  	AZ	  	85206	  	Lease
	 P0000363
	  	Fuddruckers, Inc.	  	Fuddruckers	  	14500 Weaver Lake Rd	  	Maple Grove	  	MN	  	55311	  	Lease
	 P0000364
	  	Fuddruckers, Inc.	  	Fuddruckers	  	121 E Campus View Blvd	  	Columbus	  	OH	  	43235	  	Lease
	 P0000365
	  	Fuddruckers, Inc.	  	Fuddruckers	  	7250 Highway 6 N	  	Houston	  	TX	  	77095	  	Lease

  
 II-A-2

															
	 Property ID
	  	 Obligor
	  	 Concept
	  	 Address 1
	  	 City
	  	 ST
	  	 Zip Code
	  	 Investment

Type

	 P0000366
	  	Fuddruckers, Inc.	  	Fuddruckers	  	3560 Fishinger Blvd	  	Hilliard	  	OH	  	43026	  	Lease
	 P0000367
	  	Fuddruckers, Inc.	  	Fuddruckers	  	13010 Northwest Fwy	  	Houston	  	TX	  	77040	  	Lease
	 P0000368
	  	Fuddruckers, Inc.	  	Fuddruckers	  	101 Regal Way	  	Newport News	  	VA	  	23602	  	Lease
	 P0000369
	  	Fuddruckers, Inc.	  	Fuddruckers	  	7800 W Bell Rd	  	Glendale	  	AZ	  	85308	  	Lease
	 P0000370
	  	Fuddruckers, Inc.	  	Fuddruckers	  	9996 Escort Dr	  	Mason	  	OH	  	45040	  	Lease
	 P0000371
	  	Fuddruckers, Inc.	  	Fuddruckers	  	8955 Springbrook Dr NW	  	Coon Rapids	  	MN	  	55433	  	Lease
	 P0000372
	  	Fuddruckers, Inc.	  	Fuddruckers	  	1105 Merchants Way	  	Chesapeake	  	VA	  	23320	  	Lease
	 P0000373
	  	Fuddruckers, Inc.	  	Fuddruckers	  	11992 Chase Plz	  	Cincinnati	  	OH	  	45240	  	Lease
	 P0000374
	  	Fuddruckers, Inc.	  	Fuddruckers	  	10500 Town and Country Way	  	Houston	  	TX	  	77024	  	Lease
	 P0000375
	  	Fuddruckers, Inc.	  	Fuddruckers	  	4360 Kingwood Dr	  	Kingwood	  	TX	  	77339	  	Lease
	 P0000378
	  	Interfoods of America, Inc.	  	Popeye’s	  	8194 Plank Road	  	Baton Rouge	  	LA	  	70811	  	Lease
	 P0000379
	  	Pennant Foods	  	Wendy’s	  	8749 Campo Road	  	La Mesa	  	CA	  	91941	  	Lease
	 P0000380
	  	Interfoods of America, Inc.	  	Popeye’s	  	3411 N Pace Blvd	  	Pensacola	  	FL	  	32505-5127	  	Lease
	 P0000381
	  	NPC International, Inc.	  	Pizza Hut	  	1551 W Main St	  	Salem	  	IL	  	62881-3805	  	Lease
	 P0000914
	  	Dickinson Theatres, Inc.	  	Dickinson Theaters	  	4900 NE 80th Street	  	Kansas City	  	MO	  	64119	  	Lease
	 P0000915
	  	Dickinson Theatres, Inc.	  	Dickinson Theaters	  	1451 NE Douglas Street	  	Lees Summit	  	MO	  	64086	  	Lease
	 P0000916
	  	Hastings Entertainment, Inc.	  	Hastings	  	1705 North Main Street	  	Roswell	  	NM	  	88201	  	Lease
	 P0000917
	  	Kansas Corral	  	Golden Corral	  	616 So. Ridge Road Circle	  	Wichita	  	KS	  	67209	  	 Lease with

additional
 equipment note

	 P0000918
	  	Kansas Corral	  	Golden Corral	  	2830 W. 18th Avenue	  	Emporia	  	KS	  	66801	  	 Lease with

additional
 equipment note

	 P0000919
	  	Ferrellgas, L.P	  	Blue Rhino	  	300 County Road 448	  	Tavares	  	FL	  	32778	  	Lease
	 P0000390
	  	Famous Dave’s of America	  	Famous Dave’s	  	14200 60th St N	  	Stillwater	  	MN	  	55082-6309	  	Lease
	 P0000391
	  	Famous Dave’s of America	  	Famous Dave’s	  	7825 Vinewood Ln	  	Maple Grove	  	MN	  	55369-7013	  	Lease
	 P0000392
	  	Famous Dave’s of America	  	Famous Dave’s	  	7593 147th St W	  	Apple Valley	  	MN	  	55124-6998	  	Lease
	 P0000393
	  	Friendly’s Ice Cream Corporation	  	Friendly’s Ice Cream	  	90 N Genesee St	  	Utica	  	NY	  	13502-2527	  	Lease
	 P0000394
	  	Friendly’s Ice Cream Corporation	  	Friendly’s Ice Cream	  	600 Mountain View Dr	  	Colchester	  	VT	  	05446-1901	  	Lease
	 P0000395
	  	Friendly’s Ice Cream Corporation	  	Friendly’s Ice Cream	  	697 Troy Schenectady Rd	  	Colonie	  	NY	  	12110-2501	  	Lease
	 P0000396
	  	Friendly’s Ice Cream Corporation	  	Friendly’s Ice Cream	  	632 Bloomfield Ave	  	West Caldwell	  	NJ	  	07006-7518	  	Lease

  
 II-A-3

															
	 Property ID
	  	 Obligor
	  	 Concept
	  	 Address 1
	  	 City
	  	 ST
	  	 Zip Code
	  	 Investment

Type

	 P0000397
	  	Friendly’s Ice Cream Corporation	  	Friendly’s Ice Cream	  	11 Main St	  	West Harwich	  	MA	  	02671-1041	  	Lease
	 P0000398
	  	Friendly’s Ice Cream Corporation	  	Friendly’s Ice Cream	  	936 Walnut Bottom Rd	  	Carlisle	  	PA	  	17013-9177	  	Lease
	 P0000399
	  	Interfoods of America, Inc.	  	Popeye’s	  	5534 NW 7th Ave	  	Miami	  	FL	  	33127-1402	  	Lease
	 P0000400
	  	Interfoods of America, Inc.	  	Popeye’s	  	233 W Hillsboro Blvd	  	Deerfield Beach	  	FL	  	33441-3311	  	Lease
	 P0000401
	  	Interfoods of America, Inc.	  	Popeye’s	  	3291 W Broward Blvd	  	Fort Lauderdale	  	FL	  	33312-1112	  	Lease
	 P0000402
	  	Interfoods of America, Inc.	  	Popeye’s	  	14620 Plank Rd	  	Baker	  	LA	  	70714-5445	  	Lease
	 P0000403
	  	Interfoods of America, Inc.	  	Popeye’s	  	1940 Main St	  	Baker	  	LA	  	70714-2843	  	Lease
	 P0000404
	  	Interfoods of America, Inc.	  	Popeye’s	  	5946 Airline Hwy	  	Baton Rouge	  	LA	  	70805-3201	  	Lease
	 P0000405
	  	Interfoods of America, Inc.	  	Popeye’s	  	290 Lobdell Hwy	  	Port Allen	  	LA	  	70767-4198	  	Lease
	 P0000406
	  	Interfoods of America, Inc.	  	Popeye’s	  	107 S 25th St	  	Fort Pierce	  	FL	  	34947-3602	  	Lease
	 P0000408
	  	Interfoods of America, Inc.	  	Popeye’s	  	9854 Halls Ferry Rd	  	Saint Louis	  	MO	  	63136-4017	  	Lease
	 P0000409
	  	Interfoods of America, Inc.	  	Popeye’s	  	8654 Natural Bridge Rd	  	Saint Louis	  	MO	  	63121-4110	  	Lease
	 P0000410
	  	Interfoods of America, Inc.	  	Popeye’s	  	2877 Target Dr	  	Saint Louis	  	MO	  	63136-4639	  	Lease
	 P0000411
	  	Interfoods of America, Inc.	  	Popeye’s	  	9376 Greenwell Springs Rd	  	Baton Rouge	  	LA	  	70814-2909	  	Lease
	 P0000412
	  	Interfoods of America, Inc.	  	Popeye’s	  	2200 S Range Ave	  	Denham Springs	  	LA	  	70726-5214	  	Lease
	 P0000415
	  	1st University Credit Union	  	Other	  	605 S University Parks Dr	  	Waco	  	TX	  	76706-1053	  	Lease
	 P0000416
	  	Barnhill’s Buffet, Inc.	  	Barnhill’s Buffet	  	325 S Mcgee Ave	  	Apopka	  	FL	  	32703-4479	  	Lease
	 P0000417
	  	Barnhill’s Buffet, Inc.	  	Barnhill’s Buffet	  	1070 S Volusia Ave	  	Orange City	  	FL	  	32763-7039	  	Lease
	 P0000418
	  	Barnhill’s Buffet, Inc.	  	Barnhill’s Buffet	  	6706 highway 63	  	Moss Point	  	MS	  	39563-9539	  	Lease
	 P0000419
	  	Barnhill’s Buffet, Inc.	  	Barnhill’s Buffet	  	12475 Highway 49	  	Gulfport	  	MS	  	39503-2785	  	Lease
	 P0000420
	  	Checker’s Drive-In Restaurants	  	Rally’s	  	3979 W Tennessee St	  	Tallahassee	  	FL	  	32304-1015	  	Lease
	 P0000421
	  	Checker’s Drive-In Restaurants	  	Rally’s	  	401 Vincennes Ave	  	New Albany	  	IN	  	47150-3053	  	Lease
	 P0000424
	  	Checker’s Drive-In Restaurants	  	Rally’s	  	7843 US Highway 42	  	Florence	  	KY	  	41042-1803	  	Lease
	 P0000425
	  	Checker’s Drive-In Restaurants	  	Rally’s	  	1709 N Galvez St	  	New Orleans	  	LA	  	70119-1602	  	Lease
	 P0000426
	  	Checker’s Drive-In Restaurants	  	Rally’s	  	2371 Saint Claude Ave	  	New Orleans	  	LA	  	70117-8352	  	Lease
	 P0000428
	  	Checker’s Drive-In Restaurants	  	Rally’s	  	602 N. Baldwin Avenue	  	Marion	  	IN	  	46952-3462	  	Lease
	 P0000429
	  	Goldco, Inc.	  	Burger King	  	1400 W Jefferson St	  	Quincy	  	FL	  	32351-2130	  	Lease
	 P0000431
	  	Max & Erma’s Restaurants, Inc.	  	Max & Erma’s	  	1275 E Dublin Granville Rd	  	Columbus	  	OH	  	43229-3359	  	Lease

  
 II-A-4

															
	 Property ID
	  	 Obligor
	  	 Concept
	  	 Address 1
	  	 City
	  	 ST
	  	 Zip Code
	  	 Investment

Type

	 P0000432
	  	Max & Erma’s Restaurants, Inc.	  	Max & Erma’s	  	1391 Arrowhead Dr	  	Maumee	  	OH	  	43537-1729	  	Lease
	 P0000433
	  	Max & Erma’s Restaurants, Inc.	  	Max & Erma’s	  	4279 Cemetery Rd	  	Hilliard	  	OH	  	43026-1203	  	Lease
	 P0000434
	  	QK, Inc.	  	Denny’s	  	17053 E Shea Blvd	  	Fountain Hills	  	AZ	  	85268-6635	  	Lease
	 P0000436
	  	Arby’s Restaurant Group	  	Arby’s	  	1375 N Main St	  	Madisonville	  	KY	  	42431-1283	  	Lease
	 P0000437
	  	Arby’s Restaurant Group	  	Arby’s	  	163 Altama Connector Blvd	  	Brunswick	  	GA	  	31525-1881	  	Lease
	 P0000438
	  	Arby’s Restaurant Group	  	Arby’s	  	450 E State Rd	  	American Fork	  	UT	  	84003-2559	  	Lease
	 P0000439
	  	Arby’s Restaurant Group	  	Arby’s	  	251 S Main St	  	Tooele	  	UT	  	84074-2743	  	Lease
	 P0000440
	  	Arby’s Restaurant Group	  	Arby’s	  	2501 Mayport Rd	  	Jacksonville	  	FL	  	32233-2801	  	Lease
	 P0000442
	  	Arby’s Restaurant Group	  	Arby’s	  	1116 Highway 81 W	  	McDonough	  	GA	  	30253-6423	  	Lease
	 P0000443
	  	Arby’s Restaurant Group	  	Arby’s	  	403 Tri County Plz	  	Cumming	  	GA	  	30040-2777	  	Lease
	 P0000446
	  	Arby’s Restaurant Group	  	Arby’s	  	181 Highway 90	  	Daphne	  	AL	  	36526-9588	  	Lease
	 P0000449
	  	Arby’s Restaurant Group	  	Arby’s	  	7750 Airport Blvd	  	Mobile	  	AL	  	36608-5025	  	Lease
	 P0000450
	  	Arby’s Restaurant Group	  	Arby’s	  	7002 Georgetown Rd	  	Indianapolis	  	IN	  	46268-4445	  	Lease
	 P0000451
	  	Arby’s Restaurant Group	  	Arby’s	  	11190 Beach Blvd	  	Jacksonville	  	FL	  	32246-4804	  	Lease
	 P0000453
	  	Arby’s Restaurant Group	  	Arby’s	  	9361 Atlantic Blvd	  	Jacksonville	  	FL	  	32225-8218	  	Lease
	 P0000454
	  	Arby’s Restaurant Group	  	Arby’s	  	622 Fair Rd	  	Statesboro	  	GA	  	30458-4927	  	Lease
	 P0000455
	  	Arby’s Restaurant Group	  	Arby’s	  	514 N Highway 52	  	Moncks Corner	  	SC	  	29461-3131	  	Lease
	 P0000456
	  	Interfoods of America, Inc.	  	Popeye’s	  	5275 Government St	  	Baton Rouge	  	LA	  	70806-6027	  	Lease
	 P0000457
	  	Interfoods of America, Inc.	  	Popeye’s	  	2137 Staring Ln	  	Baton Rouge	  	LA	  	70810-1038	  	Lease
	 P0000459
	  	Interfoods of America, Inc.	  	Popeye’s	  	2490 NW 79th St	  	Miami	  	FL	  	33147-4930	  	Lease
	 P0000920
	  	Gander Mountain Company	  	Gander Mountain	  	6801 120th Avenue	  	Kenosha	  	WI	  	53140	  	Lease
	 P0000921
	  	Carmike Cinemas, Inc.	  	Carmike Cinemas	  	2435 Edgewood Road SW	  	Cedar Rapids	  	IA	  	52404	  	Lease
	 P0000922
	  	Humperdink’s Texas, LLC	  	Humperdink	  	3820 Belt Line Road	  	Addison	  	TX	  	75001	  	Lease
	 P0000923
	  	Humperdink’s Texas, LLC	  	Humperdink	  	6050 Greenville Avenue	  	Dallas	  	TX	  	75206	  	Lease
	 P0000924
	  	Humperdink’s Texas, LLC	  	Humperdink	  	2208 W. NW Highway	  	Dallas	  	TX	  	75220	  	Lease
	 P0000925
	  	Humperdink’s Texas, LLC	  	Humperdink	  	700 Six Flags Drive	  	Arlington	  	TX	  	76011	  	Lease
	 P0000926
	  	Taco Bueno Restaurants, Inc.	  	Taco Bueno	  	1601 Garth Brooks Blvd	  	Yukon	  	OK	  	73099	  	Lease
	 P0000927
	  	Taco Bueno Restaurants, Inc.	  	Taco Bueno	  	2416 S. Georgia Street	  	Amarillo	  	TX	  	79109	  	Lease
	 P0000928
	  	Taco Bueno Restaurants, Inc.	  	Taco Bueno	  	3124 Regency Lane	  	Denison	  	TX	  	75020	  	Lease
	 P0000929
	  	Taco Bueno Restaurants, Inc.	  	Taco Bueno	  	2520 82nd Street	  	Lubbock	  	TX	  	79423	  	Lease
	 P0000930
	  	Gander Mountain Company	  	Gander Mountain	  	8635 Clinton Street	  	New Hartford	  	NY	  	13413	  	Lease
	 P0000931
	  	Dave & Buster’s, Inc.	  	Dave & Buster’s	  	2215 D & B Drive	  	Marietta	  	GA	  	30067	  	Lease
	 P0000932
	  	Hill Country Furniture Partners, Ltd.	  	Ashley Furniture	  	7903 Pat Booker Road	  	Live Oak	  	TX	  	78223	  	Lease
	 P0000933
	  	RBLS, Inc. (a Texas corporation)	  	Ashley Furniture	  	1411 Airway Boulevard	  	El Paso	  	TX	  	79925	  	Lease

  
 II-A-5

															
	 Property ID
	  	 Obligor
	  	 Concept
	  	 Address 1
	  	 City
	  	 ST
	  	 Zip Code
	  	 Investment

Type

	 P0000934
	  	Gander Mountain Company	  	Gander Mountain	  	5038-A Miller Road	  	Flint	  	MI	  	48507	  	Lease
	 P0000935
	  	Ferrellgas, L.P	  	Blue Rhino	  	1750 Agua Mansa Road	  	Riverside	  	CA	  	92509	  	Lease
	 P0000936
	  	Gander Mountain Company	  	Gander Mountain	  	2121 43rd St., SW	  	Fargo	  	ND	  	58103	  	Lease
	 P0000937
	  	Sonic Corp.	  	Sonic	  	202 N Main Ave	  	Erwin	  	TN	  	37650	  	Lease
	 P0000938
	  	Sonic Corp.	  	Sonic	  	3307 No. Broadway St.	  	Knoxville	  	TN	  	37918	  	Lease
	 P0000939
	  	Sonic Corp.	  	Sonic	  	113 1st St.	  	Radford	  	VA	  	24141	  	Lease
	 P0000940
	  	Sonic Corp.	  	Sonic	  	355 No. Franklin St.	  	Christiansburg	  	VA	  	24073	  	Lease
	 P0000941
	  	Sonic Corp.	  	Sonic	  	647 E. Main St.	  	Pulaski	  	VA	  	24301	  	Lease
	 P0000942
	  	Sonic Corp.	  	Sonic	  	790 E. Main St.	  	Wytheville	  	VA	  	24382	  	Lease
	 P0000943
	  	Sonic Corp.	  	Sonic	  	2010 E. Broadway Ave.	  	Maryville	  	TN	  	37804	  	Lease
	 P0000944
	  	Sonic Corp.	  	Sonic	  	411 Foothills Mall Drive	  	Maryville	  	TN	  	37801	  	Lease
	 P0000945
	  	Sonic Corp.	  	Sonic	  	608 Oak Ridge Turnpike	  	Oak Ridge	  	TN	  	37830	  	Lease
	 P0000946
	  	Sonic Corp.	  	Sonic	  	1124 E. Stone Dr.	  	Kingsport	  	TN	  	37660	  	Lease
	 P0000947
	  	Sonic Corp.	  	Sonic	  	104 Cedar Lane	  	Knoxville	  	TN	  	37912	  	Lease
	 P0000948
	  	Sonic Corp.	  	Sonic	  	6949 Maynardsville Pike	  	Knoxville	  	TN	  	39912	  	Lease
	 P0000949
	  	Sonic Corp.	  	Sonic	  	1015 Volunteer Parkway	  	Bristol	  	TN	  	37625	  	Lease
	 P0000950
	  	Sonic Corp.	  	Sonic	  	1108 No. Charles G. Seivers Blvd.	  	Clinton	  	TN	  	37716	  	Lease
	 P0000951
	  	Dickinson Theatres, Inc.	  	Dickinson Theaters	  	10301 So. Memorial Drive	  	Bixby	  	OK	  	74133	  	Lease
	 P0000952
	  	Gander Mountain Company	  	Gander Mountain	  	5864 Carmenica Drive	  	Cicero	  	NY	  	13039	  	Lease
	 P0000953
	  	Rite Aid Corporation	  	Rite Aid	  	3601 Midvale Avenue	  	Philadelphia	  	PA	  	19129	  	Lease
	 P0000954
	  	Rite Aid Corporation	  	Rite Aid	  	120 Jefferson Avenue	  	Moundsville	  	WV	  	26041	  	Lease
	 P0000955
	  	Rite Aid Corporation	  	Rite Aid	  	104 Genesee Street	  	Oneida	  	NY	  	13421	  	Lease
	 P0000956
	  	Rite Aid Corporation	  	Rite Aid	  	735 North Water Street	  	Uhrichsville	  	OH	  	44683	  	Lease
	 P0000957
	  	Rite Aid Corporation	  	Rite Aid	  	1410 Delaware Avenue	  	Buffalo	  	NY	  	14209	  	Lease
	 P0000958
	  	Rite Aid Corporation	  	Rite Aid	  	804 East Winthrop Avenue	  	Millen	  	GA	  	30442	  	Lease
	 P0000959
	  	Rite Aid Corporation	  	Rite Aid	  	301 south Broad Street	  	Thomasville	  	GA	  	31792	  	Lease
	 P0000960
	  	Sonic Corp.	  	Sonic	  	1003 W Elk Avenue	  	Elizabethton	  	TN	  	37643	  	Lease
	 P0000961
	  	Flying Star Cafe	  	Flying Star Café	  	8001 Menaul Blvd NE	  	Albuquerque	  	NM	  	87110	  	Lease
	 P0000962
	  	Flying Star Cafe	  	Flying Star Café	  	4501 Juan Tabo Blvd NE	  	Albuquerque	  	NM	  	87111	  	Lease
	 P0000963
	  	Hughes Supply, Inc.	  	Hughes Supply	  	8700 Hwy 27 S	  	Sebring	  	FL	  	33876	  	Lease
	 P0000964
	  	Hughes Supply, Inc.	  	Hughes Supply	  	8326 Lemon Rd	  	Port Richey	  	FL	  	34668	  	Lease
	 P0000965
	  	Hughes Supply, Inc.	  	Hughes Supply	  	6854 Distribution Ave S	  	Jacksonville	  	FL	  	32256	  	Lease
	 P0000966
	  	Hughes Supply, Inc.	  	Hughes Supply	  	8091 Supply Drive	  	Fort Myers	  	FL	  	33912	  	Lease
	 P0000967
	  	Hughes Supply, Inc.	  	Hughes Supply	  	6231 Idlewild Street	  	Fort Myers	  	FL	  	33912	  	Lease
	 P0000968
	  	Hughes Supply, Inc.	  	Hughes Supply	  	4355 Drane Field Rd	  	Lakeland	  	FL	  	33811	  	Lease
	 P0000969
	  	Hughes Supply, Inc.	  	Hughes Supply	  	5311 Doolittle Rd	  	Jacksonville	  	FL	  	32254	  	Lease
	 P0000970
	  	Hughes Supply, Inc.	  	Hughes Supply	  	5409-100 Broadway Ave	  	Jacksonville	  	FL	  	32254	  	Lease

  
 II-A-6

															
	 Property ID
	  	 Obligor
	  	 Concept
	  	 Address 1
	  	 City
	  	 ST
	  	 Zip Code
	  	 Investment
Type

	 P0000971
	  	Hughes Supply, Inc.	  	Hughes Supply	  	3509 N Loop 336 W	  	Conroe	  	TX	  	77304	  	Lease
	 P0000972
	  	Hughes Supply, Inc.	  	Hughes Supply	  	2007 NW 15th Ave	  	Pompano Beach	  	FL	  	33069	  	Lease
	 P0000973
	  	Hughes Supply, Inc.	  	Hughes Supply	  	1751 L Avenue	  	Riviera Beach	  	FL	  	33401	  	Lease
	 P0000673
	  	Arby’s Restaurant Group	  	Arby’s	  	5660 Beach Boulevard	  	Jacksonville	  	FL	  	32207	  	Lease
	 P0000675
	  	Arby’s Restaurant Group	  	Arby’s	  	2600 S Orange Ave	  	Orlando	  	FL	  	32806	  	Lease
	 P0000676
	  	Arby’s Restaurant Group	  	Arby’s	  	1305 Tuskawilla Rd	  	Winter Springs	  	FL	  	32708	  	Lease
	 P0000677
	  	Arby’s Restaurant Group	  	Arby’s	  	2649 Richmond Road	  	Lexington	  	KY	  	40509	  	Lease
	 P0000678
	  	Arby’s Restaurant Group	  	Arby’s	  	4170 Shelbyville Rd	  	Louisville	  	KY	  	40207	  	Lease
	 P0000679
	  	Arby’s Restaurant Group	  	Arby’s	  	16005 US Highway 441	  	Eustis	  	FL	  	32726	  	Lease
	 P0000680
	  	Mexican Restaurants	  	Casa Ole	  	5705 4th St	  	Lubbock	  	TX	  	79416	  	Lease
	 P0000681
	  	Mexican Restaurants	  	Casa Ole	  	1520 Southmore Ave	  	Pasadena	  	TX	  	77502	  	Lease
	 P0000682
	  	Mexican Restaurants	  	Casa Ole	  	2726 Spencer Hwy	  	Pasadena	  	TX	  	77504	  	Lease
	 P0000683
	  	Mexican Restaurants	  	Casa Ole	  	2730 East Highway 190	  	Copperas Cove	  	TX	  	76522	  	Lease
	 P0000685
	  	Mexican Restaurants	  	Garibaldi’s	  	525 Caldwell Blvd	  	Nampa	  	ID	  	83651	  	Lease
	 P0000687
	  	Mexican Restaurants	  	Monterey’s Tex Mex	  	410 S. Gordon St	  	Alvin	  	TX	  	77511	  	Lease
	 P0000688
	  	Mexican Restaurants	  	Monterey’s Tex Mex	  	12520 Greenspoint Dr	  	Houston	  	TX	  	77060	  	Lease
	 P0000689
	  	Mexican Restaurants	  	Monterey’s Tex Mex	  	3201 Freedom Blvd	  	Bryan	  	TX	  	77802	  	Lease
	 P0000691
	  	Mexican Restaurants	  	Monterey’s Tex Mex	  	5694 W Skelly Dr	  	Tulsa	  	OK	  	74107	  	Lease
	 P0000692
	  	Arby’s Restaurant Group	  	Arby’s	  	1228 South Broadway Street	  	Lexington	  	KY	  	40504-2738	  	Lease
	 P0000974
	  	Rite Aid Corporation	  	Rite Aid	  	5601 Chestnut Street	  	Philadelphia	  	PA	  	19139	  	Lease
	 P0000975
	  	Sportsman’s Warehouse	  	Sportsman’s Warehouse	  	1551 Lawrence Drive	  	DePere	  	WI	  	54115	  	Lease
	 P0000976
	  	Apollo College	  	Apollo Colleges	  	630 W. Southern Ave	  	Mesa	  	AZ	  	85210	  	Lease
	 P0000977
	  	Apollo College	  	Apollo Colleges	  	3550 N. Oracle Road	  	Tucson	  	AZ	  	85704	  	Lease
	 P0000978
	  	Apollo College	  	Apollo Colleges	  	2701 W. Bethany Home Road	  	Phoenix	  	AZ	  	85017	  	Lease
	 P0000979
	  	Apollo College	  	Apollo Colleges	  	8503 N. 27th Avenue	  	Phoenix	  	AZ	  	85051	  	Lease
	 P0000980
	  	Pilgrim’s Pride Corporation	  	Pilgrim’s Pride Freezer Warehouse Facility	  	3330 Woodrow Wilson Drive	  	Jackson	  	MS	  	39209	  	Lease
	 P0000706
	  	Stonebrook Properties LLC	  	Golden Corral	  	1300 South Morgan	  	Granbury	  	TX	  	76048	  	Lease
	 P0000707
	  	Corral of Michigan LLC	  	Golden Corral	  	37101 Warren Road	  	Westland	  	MI	  	48185	  	Lease
	 P0000708
	  	Pizza Properties, Ltd	  	Peter Piper Pizza	  	2210 West University Drive	  	Edinburg	  	TX	  	78539	  	Lease
	 P0000709
	  	Pizza Properties, Ltd	  	Peter Piper Pizza	  	402 South Bibb Ave	  	Eagle Pass	  	TX	  	78852	  	Lease
	 P0000710
	  	Pizza Properties, Ltd	  	Peter Piper Pizza	  	4526 East Hwy 83	  	Rio Grande City	  	TX	  	78582	  	Lease
	 P0000711
	  	Pizza Properties, Ltd	  	Peter Piper Pizza	  	3101 East Expressway 83	  	Weslaco	  	TX	  	78596	  	Lease
	 P0000730
	  	HOM Furniture, Inc.	  	Hom Furniture	  	4726 Mall Drive	  	Hermantown	  	MN	  	55811	  	Lease
	 P0000731
	  	HOM Furniture, Inc.	  	Hom Furniture	  	2921 Mall Drive	  	Eau Claire	  	WI	  	54701	  	Lease
	 P0000732
	  	Hastings Entertainment, Inc.	  	Hastings	  	200 Hwy 332 West	  	Lake Jackson	  	TX	  	77566	  	Lease
	 P0000737
	  	Pizza Properties, Ltd	  	Peter Piper Pizza	  	9450 Dyer Street	  	El Paso	  	TX	  	79924	  	Lease

 II-A-7 

															
	 Property ID
	 	 Obligor
	  	 Concept
	  	 Address 1
	  	 City
	  	 ST
	  	 Zip Code
	  	 Investment
Type

	P0000738	 	Rite Aid Corporation	  	Rite Aid	  	21500-21508 Harper Avenue	  	St. Clair Shores	  	MI	  	48081	  	Lease
	P0000747	 	Anvia, Inc.	  	Ashley Home Center	  	4597 Southwest Drive	  	Abilene	  	TX	  	79605	  	Lease
	P0000748	 	Sky Ventures, LLC	  	Pizza Hut	  	545 Hwy 9 E	  	Forest City	  	IA	  	50436	  	Lease
	P0000749	 	Sky Ventures, LLC	  	Pizza Hut	  	419 2nd Ave SE	  	Cresco	  	IA	  	52136	  	Lease
	P0000750	 	Sky Ventures, LLC	  	Pizza Hut	  	260 Carson Ave	  	Elk River	  	MN	  	55330	  	Lease
	P0000751	 	Sky Ventures, LLC	  	Pizza Hut	  	1325 Town Centre Dr	  	Eagan	  	MN	  	55123	  	Lease
	P0000752	 	Sky Ventures, LLC	  	Pizza Hut	  	964 Hwy 15 S	  	Hutchinson	  	MN	  	55350	  	Lease
	P0000753	 	Sky Ventures, LLC	  	Pizza Hut	  	5501 Grand Ave	  	Duluth	  	MN	  	55808	  	Lease
	P0000754	 	Sky Ventures, LLC	  	Pizza Hut	  	3600 N Douglas	  	Crystal	  	MN	  	55422	  	Lease
	P0000755	 	Sky Ventures, LLC	  	Pizza Hut	  	32 Sheridan St	  	Ely	  	MN	  	55731	  	Lease
	P0000756	 	Sky Ventures, LLC	  	Pizza Hut	  	701 Highway 33 S	  	Cloquet	  	MN	  	55720	  	Lease
	P0000757	 	Sky Ventures, LLC	  	Pizza Hut	  	1101 Hwy 25 N	  	Buffalo	  	MN	  	55313	  	Lease
	P0000758	 	Sky Ventures, LLC	  	Pizza Hut	  	1918 London Rd	  	Duluth	  	MN	  	55812	  	Lease
	P0000759	 	Sky Ventures, LLC	  	Pizza Hut	  	1725 E Main St	  	Albert Lea	  	MN	  	56007	  	Lease
	P0000760	 	Sky Ventures, LLC	  	Pizza Hut	  	623 Hammond Ave	  	Superior	  	WI	  	54880	  	Lease
	P0000761	 	Sky Ventures, LLC	  	Pizza Hut	  	3854 N Central Ave	  	Columbia Heights	  	MN	  	55421	  	Lease
	P0000762	 	Sky Ventures, LLC	  	Pizza Hut	  	100 N Phillips	  	Algona	  	IA	  	50511	  	Lease
	P0000763	 	Sky Ventures, LLC	  	Pizza Hut	  	1653 Weir Dr	  	Woodbury	  	MN	  	55125	  	Lease
	P0000764	 	Sky Ventures, LLC	  	Pizza Hut	  	W Hwy 18	  	Mason City	  	IA	  	50401	  	Lease
	P0000765	 	Sky Ventures, LLC	  	Pizza Hut	  	1211 7th Ave	  	Two Harbors	  	MN	  	55616	  	Lease
	P0000766	 	Sky Ventures, LLC	  	Pizza Hut	  	257 Marschall Rd	  	Shakopee	  	MN	  	55379	  	Lease
	P0000767	 	Sky Ventures, LLC	  	Pizza Hut	  	Hwy 18	  	Clear Lake	  	IA	  	50428	  	Lease
	P0000768	 	Sky Ventures, LLC	  	Pizza Hut	  	1157 S Main	  	Sauk Centre	  	MN	  	56378	  	Lease
	P0000769	 	Sky Ventures, LLC	  	Pizza Hut	  	15065 Canada Rd	  	Rosemount	  	MN	  	55068	  	Lease
	P0000770	 	Sky Ventures, LLC	  	Pizza Hut	  	1504 13th Street S	  	Virginia	  	MN	  	55792	  	Lease
	P0000771	 	Sky Ventures, LLC	  	Pizza Hut	  	7500 Bass Lake Rd	  	New Hope	  	MN	  	55428	  	Lease
	P0000772	 	Sky Ventures, LLC	  	Pizza Hut	  	1300 W Broadway	  	Minneapolis	  	MN	  	55411	  	Lease
	P0000773	 	Sky Ventures, LLC	  	Pizza Hut	  	319 N Benton	  	Sauk Rapids	  	MN	  	56379	  	Lease
	P0000774	 	Sky Ventures, LLC	  	Pizza Hut	  	1685 White Bear Ave	  	Maplewood	  	MN	  	55109	  	Lease
	P0000775	 	Sky Ventures, LLC	  	Pizza Hut	  	17305 Kenrick Ave	  	Lakeville	  	MN	  	55044	  	Lease
	P0000776	 	Sky Ventures, LLC	  	Pizza Hut	  	2001 W Hwy 52	  	Rochester	  	MN	  	55901	  	Lease
	P0000777	 	Sky Ventures, LLC	  	Pizza Hut	  	1101 37th St East	  	Hibbing	  	MN	  	55746	  	Lease
	P0000778	 	Sky Ventures, LLC	  	Pizza Hut	  	806 S Pokegama	  	Grand Rapids	  	MN	  	55744	  	Lease
	P0000779	 	Sky Ventures, LLC	  	Pizza Hut	  	1404 E College Dr	  	Marshall	  	MN	  	56258	  	Lease
	P0000780	 	Falcon Holdings, LLC	  	Church’s	  	276 Park Ave W	  	Mansfield	  	OH	  	44902	  	Lease
	P0000781	 	Falcon Holdings, LLC	  	Church’s	  	700 S Arlington	  	Akron	  	OH	  	44306	  	Lease
	P0000782	 	Falcon Holdings, LLC	  	Church’s	  	1520 E Main	  	Columbus	  	OH	  	43205	  	Lease
	P0000783	 	Falcon Holdings, LLC	  	Church’s	  	920 N Grand Ave	  	St. Louis	  	MO	  	63106	  	Lease

 II-A-8 

															
	 Property ID
	  	 Obligor
	  	 Concept
	  	 Address 1
	  	 City
	  	 ST
	  	 Zip Code
	  	 Investment
Type

	P0000784	  	Falcon Holdings, LLC	  	Church’s	  	4375 Refugee Rd	  	Columbus	  	OH	  	43232	  	Lease
	P0000785	  	Falcon Holdings, LLC	  	Church’s	  	1391 Wooster Ave	  	Akron	  	OH	  	44320	  	Lease
	P0000786	  	Falcon Holdings, LLC	  	Church’s	  	3525 N Grand Blvd	  	St. Louis	  	MO	  	63107	  	Lease
	P0000787	  	Falcon Holdings, LLC	  	Church’s	  	410 9th St NE	  	Canton	  	OH	  	44704	  	Lease
	P0000788	  	Falcon Holdings, LLC	  	Church’s	  	805 N Kings Hwy	  	St. Louis	  	MO	  	63108	  	Lease
	P0000789	  	Falcon Holdings, LLC	  	Church’s	  	7260 Manchester Rd	  	Maplewood	  	MO	  	63143	  	Lease
	P0000790	  	Falcon Holdings, LLC	  	Church’s	  	1211 S. Main	  	Akron	  	OH	  	44301	  	Lease
	P0000791	  	Falcon Holdings, LLC	  	Church’s	  	1753 Woodson Rd	  	Overland	  	MO	  	63114	  	Lease
	P0000792	  	Falcon Holdings, LLC	  	Church’s	  	4414 N Saginaw	  	Flint	  	MI	  	48505	  	Lease
	P0000793	  	Falcon Holdings, LLC	  	Church’s	  	4401 Marshall Rd	  	St. Louis	  	MO	  	63134	  	Lease
	P0000794	  	Falcon Holdings, LLC	  	Church’s	  	10646 New Halls Ferry	  	Ferguson	  	MO	  	63135	  	Lease
	P0000795	  	Falcon Holdings, LLC	  	Church’s	  	16100 Livernois	  	Detroit	  	MI	  	48221	  	Lease
	P0000796	  	Falcon Holdings, LLC	  	Church’s	  	7215 Natural Bridge Rd	  	Normandy	  	MO	  	63121	  	Lease
	P0000797	  	Falcon Holdings, LLC	  	Church’s	  	9137 W Grand River	  	Detroit	  	MI	  	48204	  	Lease
	P0000798	  	Falcon Holdings, LLC	  	Church’s	  	13611 West 8 Mile Rd	  	Detroit	  	MI	  	48235	  	Lease
	P0000799	  	Falcon Holdings, LLC	  	Church’s	  	24990 Dequindre	  	Warren	  	MI	  	48091	  	Lease
	P0000800	  	Falcon Holdings, LLC	  	Church’s	  	15525 Chicago Ave	  	Detroit	  	MI	  	48228	  	Lease
	P0000801	  	Falcon Holdings, LLC	  	Church’s	  	11501 Woodward Ave	  	Detroit	  	MI	  	48202	  	Lease
	P0000802	  	Falcon Holdings, LLC	  	Church’s	  	2928 E 7 Mile Rd	  	Detroit	  	MI	  	48234	  	Lease
	P0000803	  	Falcon Holdings, LLC	  	Church’s	  	13531 Fenkell Ave	  	Detroit	  	MI	  	48227	  	Lease
	P0000804	  	Falcon Holdings, LLC	  	Church’s	  	4850 West 16th St	  	Indianapolis	  	IN	  	46224	  	Lease
	P0000805	  	Falcon Holdings, LLC	  	Church’s	  	14260 Gratiot Ave	  	Detroit	  	MI	  	48205	  	Lease
	P0000806	  	Falcon Holdings, LLC	  	Church’s	  	5443 East 21st St	  	Indianapolis	  	IN	  	46218	  	Lease
	P0000807	  	Falcon Holdings, LLC	  	Church’s	  	3860 N College Ave	  	Indianapolis	  	IN	  	46205	  	Lease
	P0000808	  	Falcon Holdings, LLC	  	Church’s	  	11965 E Warren Ave	  	Detroit	  	MI	  	48214	  	Lease
	P0000809	  	Falcon Holdings, LLC	  	Church’s	  	3970 Lafayette Rd	  	Indianapolis	  	IN	  	46254	  	Lease
	P0000810	  	Falcon Holdings, LLC	  	Church’s	  	5520 Caseyville Ave	  	Washington Park	  	IL	  	62204	  	Lease
	P0000811	  	Falcon Holdings, LLC	  	Church’s	  	5040 E 38th St	  	Indianapolis	  	IN	  	46218	  	Lease
	P0000812	  	Falcon Holdings, LLC	  	Church’s	  	4590 W 5th Ave	  	Gary	  	IN	  	46406	  	Lease
	P0000813	  	Falcon Holdings, LLC	  	Church’s	  	333 E 159th St	  	Harvey	  	IL	  	60426	  	Lease
	P0000814	  	Falcon Holdings, LLC	  	Church’s	  	3863 N Post Rd	  	Indianapolis	  	IN	  	46226	  	Lease
	P0000815	  	Falcon Holdings, LLC	  	Church’s	  	500 S Western Avenue	  	Peoria	  	IL	  	61605	  	Lease
	P0000816	  	Falcon Holdings, LLC	  	Church’s	  	5400-08 W. Cermak Rd	  	Cicero	  	IL	  	60650	  	Lease
	P0000817	  	Falcon Holdings, LLC	  	Church’s	  	3701 Grant St	  	Gary	  	IN	  	46408	  	Lease
	P0000818	  	Falcon Holdings, LLC	  	Church’s	  	1409 South Broadway	  	Gary	  	IN	  	46407	  	Lease
	P0000819	  	Falcon Holdings, LLC	  	Church’s	  	4812 W North Ave	  	Chicago	  	IL	  	60639	  	Lease
	P0000820	  	Falcon Holdings, LLC	  	Church’s	  	345 Collins St	  	Joliet	  	IL	  	60432	  	Lease
	P0000821	  	Falcon Holdings, LLC	  	Church’s	  	7102 S Stony Island Ave	  	Chicago	  	IL	  	60649	  	Lease

 II-A-9 

															
	 Property ID
	  	 Obligor
	  	 Concept
	  	 Address 1
	  	 City
	  	 ST
	  	 Zip Code
	  	 Investment
Type

	P0000822	  	Falcon Holdings, LLC	  	Church’s	  	200 E 103rd St	  	Chicago	  	IL	  	60628	  	Lease
	P0000823	  	Falcon Holdings, LLC	  	Church’s	  	2601 State St	  	East St. Louis	  	IL	  	62201	  	Lease
	P0000824	  	Falcon Holdings, LLC	  	Church’s	  	431 N Austin Blvd	  	Chicago	  	IL	  	60644	  	Lease
	P0000825	  	Falcon Holdings, LLC	  	Church’s	  	101 E 35th St	  	Chicago	  	IL	  	60616	  	Lease
	P0000826	  	Falcon Holdings, LLC	  	Church’s	  	6600 S Halsted St	  	Chicago	  	IL	  	60621	  	Lease
	P0000827	  	Falcon Holdings, LLC	  	Church’s	  	1808 W 47th St	  	Chicago	  	IL	  	60609	  	Lease
	P0000828	  	Falcon Holdings, LLC	  	Church’s	  	1855 S Blue Island Ave	  	Chicago	  	IL	  	60608	  	Lease
	P0000829	  	Falcon Holdings, LLC	  	Church’s	  	2806 W Cermak Ave	  	Chicago	  	IL	  	60623	  	Lease
	P0000844	  	Hughes Supply, Inc.	  	Hughes Supply	  	914 Chris Drive	  	West Columbia	  	SC	  	29169	  	Lease
	P0000845	  	Hughes Supply, Inc.	  	Hughes Supply	  	990 Pedigo Way	  	Bowling Green	  	KY	  	42103	  	Lease
	P0000846	  	Hughes Supply, Inc.	  	Hughes Supply	  	103 Industrial Drive	  	Hattiesburg	  	MS	  	39401	  	Lease
	P0000847	  	Hughes Supply, Inc.	  	Hughes Supply	  	10645 Auto Mall Pkwy	  	D’lberville	  	MS	  	39540	  	Lease
	P0000848	  	Hughes Supply, Inc.	  	Hughes Supply	  	850 E Pine Log Rd	  	Aiken	  	SC	  	29803	  	Lease
	P0000849	  	Hughes Supply, Inc.	  	Hughes Supply	  	856 Henri DeTonti Blvd	  	Tontitown	  	AR	  	72770	  	Lease
	P0000850	  	Hughes Supply, Inc.	  	Hughes Supply	  	7281 East 30th Street	  	Indianapolis	  	IN	  	46219	  	Lease
	P0000851	  	Hughes Supply, Inc.	  	Hughes Supply	  	5905 Old Rutledge Pike	  	Knoxville	  	TN	  	37924	  	Lease
	P0000852	  	Hughes Supply, Inc.	  	Hughes Supply	  	6501 Amsterdam Way	  	Wilmington	  	NC	  	28405	  	Lease
	P0000853	  	Hughes Supply, Inc.	  	Hughes Supply	  	341 Gees Mill Bus Pkwy	  	Conyers	  	GA	  	30013	  	Lease
	P0000854	  	Hughes Supply, Inc.	  	Hughes Supply	  	4339 White Lick Dr	  	Whitestown	  	IN	  	46075	  	Lease
	P0000855	  	Hughes Supply, Inc.	  	Hughes Supply	  	238 Hurricane Shoals Rd	  	Lawrenceville	  	GA	  	30045	  	Lease
	P0000856	  	Hughes Supply, Inc.	  	Hughes Supply	  	2820 Mary Linda Ave NE	  	Roanoke	  	VA	  	24012	  	Lease
	P0000857	  	Hughes Supply, Inc.	  	Hughes Supply	  	315 9th Street SE	  	Hickory	  	NC	  	28602	  	Lease
	P0000858	  	Hughes Supply, Inc.	  	Hughes Supply	  	2208 S 14th Street	  	Mattoon	  	IL	  	61938	  	Lease
	P0000859	  	Hughes Supply, Inc.	  	Hughes Supply	  	229 N St. Augustine Rd	  	Valdosta	  	GA	  	31601	  	Lease
	P0000860	  	Hughes Supply, Inc.	  	Hughes Supply	  	1840 Shelton Ave	  	Stateville	  	NC	  	28677	  	Lease
	P0000861	  	Hughes Supply, Inc.	  	Hughes Supply	  	1930 31st Street	  	Gulfport	  	MS	  	39501	  	Lease
	P0000862	  	Hughes Supply, Inc.	  	Hughes Supply	  	1234 S Pleasantburg Dr	  	Greenville	  	SC	  	29605	  	Lease
	P0000863	  	Hughes Supply, Inc.	  	Hughes Supply	  	1430 N Chase St	  	Athens	  	GA	  	30601	  	Lease
	P0000864	  	Hughes Supply, Inc.	  	Hughes Supply	  	1705 River Street	  	Valdosta	  	GA	  	31601	  	Lease
	P0000865	  	Hughes Supply, Inc.	  	Hughes Supply	  	1118 Interstate Blvd	  	Florence	  	SC	  	29501	  	Lease
	P0000866	  	Hughes Supply, Inc.	  	Hughes Supply	  	117 Industrial Circle	  	Martinsburg	  	WV	  	25401	  	Lease
	P0000867	  	Hughes Supply, Inc.	  	Hughes Supply	  	1215 N Bradley Rd	  	Spokane	  	WA	  	99212	  	Lease
	P0000868	  	Hughes Supply, Inc.	  	Hughes Supply	  	1065 Sunset Blvd	  	West Columbia	  	SC	  	29169	  	Lease
	P0000869	  	Hughes Supply, Inc.	  	Hughes Supply	  	1069 Canton Rd	  	Marietta	  	GA	  	30066	  	Lease
	P0000870	  	Hughes Supply, Inc.	  	Hughes Supply	  	1070 S Highland Ave	  	Jackson	  	TN	  	38301	  	Lease
	P0000871	  	Hughes Supply, Inc.	  	Hughes Supply	  	100 Tandem Dr	  	Greer	  	SC	  	29650	  	Lease

 II-A-10 

															
	 Property ID
	  	 Obligor
	  	 Concept
	  	 Address 1
	  	 City
	  	 ST
	  	 Zip Code
	  	 Investment
Type

	Pool II	  		  		  		  		  		  		  	
	P0000335	  	ARG Enterprises	  	Black Angus	  	7606 W Bell Rd	  	Glendale	  	AZ	  	85308-8619	  	Lease
	P0000413	  	QK, Inc.	  	Denny’s	  	425 NE Hassalo St	  	Portland	  	OR	  	97232-2056	  	Lease
	P0000422	  	Checker’s Drive-In Restaurants	  	Rally’s	  	2502 S Preston St # 3	  	Louisville	  	KY	  	40217-2431	  	Lease
	P0000458	  	Interfoods of America, Inc.	  	Popeye’s	  	10706 Florida Blvd	  	Baton Rouge	  	LA	  	70815-1742	  	Lease
	P0000480	  	Mosaica Education	  	Mosaica	  	2255 Kimberly Parkway East	  	Columbus	  	OH	  	43232	  	Lease
	P0000586	  	Mosaica Education	  	Mosaica	  	3333 Chipewa Drive	  	Columbus	  	OH	  	43214	  	Lease
	P0000587	  	Mosaica Education	  	Mosaica	  	555 S Fifth Avenue	  	Alpena	  	MI	  	49707	  	Lease
	P0000842	  	DL Industries, LP	  	Dan-Loc Bolt & Gasket	  	725 North Drennan	  	Houston	  	TX	  	77003	  	Lease
	P0000843	  	Huntsville Wholesale Furniture	  	Ashley Furniture	  	3020 South Memorial Parkway	  	Huntsville	  	AL	  	35801	  	Lease
	P0000880	  	Hal Smith Restaurant Group	  	Krispy Kreme	  	1502 SE Walton Blvd	  	Bentonville	  	AR	  	72712	  	Lease
	P0000881	  	Hal Smith Restaurant Group	  	Krispy Kreme	  	1315 Shackleford Rd	  	Little Rock	  	AR	  	72211	  	Lease
	P0000882	  	Hal Smith Restaurant Group	  	Krispy Kreme	  	4301 South Loop 289	  	Lubbock	  	TX	  	79423	  	Lease
	P0000883	  	Hill Country Furniture Partners, Ltd.	  	Ashley Furniture	  	12493 West IH-10	  	San Antonio	  	TX	  	78230	  	Lease
	P0001048	  	Eateries Inc.	  	Eateries, Inc	  	1220 S. Santa Fe	  	Edmond	  	OK	  	73003	  	Lease
	P0001049	  	Eateries Inc.	  	Garfield’s	  	4845 N. Kickapoo	  	Shawnee	  	OK	  	74801	  	Lease
	P0001052	  	Pine Creek Medical Center	  	Pine Creek Medical Center	  	9032 Harry Hines Blvd	  	Dallas	  	TX	  	75235	  	Lease
	P0001053	  	D-Sea, Inc.	  	Long John Silvers	  	1215 Main Street	  	Crossville	  	TN	  	38555	  	Lease
	P0001054	  	D-Sea, Inc.	  	Long John Silvers	  	2550 East Morris Blvd	  	Morristown	  	TN	  	37814	  	Lease
	P0001055	  	D-Sea, Inc.	  	Long John Silvers	  	325 South Calderwood Ave	  	Alcoa	  	TN	  	37701	  	Lease
	P0001056	  	D-Sea, Inc.	  	Long John Silvers	  	1282 Oak Ridge Turnpike	  	Oak Ridge	  	TN	  	37830	  	Lease
	P0001057	  	D-Sea, Inc.	  	Long John Silvers	  	4416 Western Avenue	  	Knoxville	  	TN	  	37921	  	Lease
	P0001058	  	D-Sea, Inc.	  	Long John Silvers	  	1612 South Roane Street	  	Harriman	  	TN	  	37748	  	Lease
	P0001059	  	D-Sea, Inc.	  	Long John Silvers	  	2816 Magnolia Ave	  	Knoxville	  	TN	  	37914	  	Lease
	P0001060	  	D-Sea, Inc.	  	Long John Silvers	  	2005 W. Andrew Johnson Hwy	  	Morristown	  	TN	  	37814	  	Lease
	P0001061	  	D-Sea, Inc.	  	Long John Silvers	  	1595 E Andrew Johnson Hwy	  	Greenville	  	TN	  	37743	  	Lease
	P0001062	  	D-Sea, Inc.	  	Long John Silvers	  	5227 Clinton Highway	  	Knoxville	  	TN	  	37912	  	Lease
	P0001063	  	D-Sea, Inc.	  	Long John Silvers	  	4833 North Broadway	  	Knoxville	  	TN	  	37918	  	Lease
	P0001064	  	D-Sea, Inc.	  	Long John Silvers	  	540 Highway 321 North	  	Lenoir City	  	TN	  	37771	  	Lease
	P0001065	  	Excel Motorsports	  	Excel Motorsports	  	8800 W. Colfax Ave.	  	Lakewood	  	CO	  	80215	  	Lease
	P0001066	  	Excel Motorsports	  	Excel Motorsports	  	6950 E. Colfax Ave.	  	Denver	  	CO	  	80220	  	Lease
	P0001068	  	Stephen A. Hall Enterprises, LLC	  	Mitsubishi	  	677 East Interstate 20	  	Arlington	  	TX	  	76018	  	Lease

 II-A-11 

															
	 Property ID
	  	 Obligor
	  	 Concept
	  	 Address 1
	  	 City
	  	 ST
	  	 Zip Code
	  	 Investment
Type

	P0001070	  	Restaurant Resources	  	Pizza Hut	  	3125 Agency Street	  	Burlington	  	IA	  	52601-1908	  	Lease
	P0001071	  	Restaurant Resources	  	Pizza Hut	  	2075 John F. Kennedy Road	  	Dubuque	  	IA	  	52002-3815	  	Lease
	P0001072	  	Restaurant Resources	  	Pizza Hut	  	49 Cedar Street	  	Tipton	  	IA	  	52772-1752	  	Lease
	P0001073	  	Restaurant Resources	  	Pizza Hut	  	1310 N. Roosevelt Ave	  	Burlington	  	IA	  	52601-2047	  	Lease
	P0001074	  	Restaurant Resources	  	Pizza Hut	  	1845 8th Street SE	  	Dyersville	  	IA	  	52040-2156	  	Lease
	P0001075	  	Restaurant Resources	  	Pizza Hut	  	1640 First Street West	  	Independence	  	IA	  	50644-2322	  	Lease
	P0001076	  	Restaurant Resources	  	Pizza Hut	  	1129 E. Main Street	  	Manchester	  	IA	  	52057-1829	  	Lease
	P0001077	  	Restaurant Resources	  	Pizza Hut	  	709 First Ave	  	Rock Falls	  	IL	  	61071-1765	  	Lease
	P0001078	  	Restaurant Resources	  	Pizza Hut	  	1616 N. Second Street	  	Clinton	  	IA	  	52732-2861	  	Lease
	P0001079	  	Restaurant Resources	  	Pizza Hut	  	1320 11th Street	  	De Witt	  	IA	  	52742-1224	  	Lease
	P0001080	  	Restaurant Resources	  	Pizza Hut	  	701 N. Main Street	  	Savanna	  	IL	  	61074-1318	  	Lease
	P0001084	  	Heartland Food Corp.	  	Burger King	  	10550 S Avenue B	  	Chicago	  	IL	  	60617	  	Lease
	P0001085	  	Heartland Food Corp.	  	Burger King	  	1750 N Harlem Ave	  	Elmwood Park	  	IL	  	60707	  	Lease
	P0001086	  	St. Ann Enterprises	  	Burger King	  	10458 Saint Charles Rock Rd	  	Saint Ann	  	MO	  	63074	  	Lease
	P0001087	  	Heartland Food Corp.	  	Burger King	  	725 US Highway 24 W	  	Gilman	  	IL	  	60938	  	Lease
	P0001088	  	Heartland Food Corp.	  	Burger King	  	2651 S Veterans Pkwy	  	Springfield	  	IL	  	62704	  	Lease
	P0001089	  	Heartland Food Corp.	  	Burger King	  	1308 N Keller Dr	  	Effingham	  	IL	  	62401	  	Lease
	P0001090	  	Heartland Food Corp.	  	Burger King	  	4241 N Prospect St	  	Decatur	  	IL	  	62526	  	Lease
	P0001091	  	Heartland Food Corp.	  	Burger King	  	2901 S Grand Ave E	  	Springfield	  	IL	  	62703	  	Lease
	P0001092	  	Heartland Food Corp.	  	Burger King	  	1144 W Boughton Rd	  	Bolingbrook	  	IL	  	60440	  	Lease
	P0001094	  	Heartland Food Corp.	  	Burger King	  	1290 Normantown Rd	  	Romeoville	  	IL	  	60446	  	Lease
	P0001095	  	Heartland Food Corp.	  	Burger King	  	1503 Woodlawn Rd	  	Lincoln	  	IL	  	62656	  	Lease
	P0001097	  	NPC International, Inc.	  	Pizza Hut	  	1602 N. 8th Street	  	Vandalia	  	IL	  	62471	  	Lease
	P0001098	  	NPC International, Inc.	  	Pizza Hut	  	105 W. Lincoln Ave	  	Charleston	  	IL	  	61920	  	Lease
	P0001099	  	NPC International, Inc.	  	Pizza Hut	  	205 N. Keller Dr	  	Effingham	  	IL	  	62401	  	Lease
	P0001100	  	NPC International, Inc.	  	Pizza Hut	  	1204 German Street	  	Maquoketa	  	IA	  	52060	  	Lease
	P0001101	  	NPC International, Inc.	  	Pizza Hut	  	1215 W. Main Street	  	Shelbyville	  	IL	  	62565	  	Lease
	P0001102	  	NPC International, Inc.	  	Pizza Hut	  	303 W. Springfield Road	  	Taylorville	  	IL	  	62568	  	Lease
	P0001103	  	NPC International, Inc.	  	Pizza Hut	  	1600 West Euclid Ave	  	Des Moines	  	IA	  	50313	  	Lease
	P0001104	  	NPC International, Inc.	  	Pizza Hut	  	1002 Short Street	  	Decorah	  	IA	  	52101	  	Lease
	P0001105	  	NPC International, Inc.	  	Pizza Hut	  	303 N. K Ave	  	Vinton	  	IA	  	52349	  	Lease
	P0001106	  	Mid-Ohio Restaurant Mgmt., Inc.	  	Wendy’s	  	4965 East Pike	  	Zanesville	  	OH	  	43701	  	Lease
	P0001107	  	Golden Partners	  	Golden Corral	  	1801 S. Waldron	  	Fort Smith	  	AR	  	72903	  	Lease
	P0001108	  	Golden Partners	  	Golden Corral	  	3551 Shepherd of the Hills Expressway	  	Branson	  	MO	  	65616	  	Lease
	P0001109	  	Golden Partners	  	Golden Corral	  	2020 E. Primrose	  	Springfield	  	MO	  	65804	  	Lease
	P0001111	  	Arby’s Restaurant Group	  	Arby’s	  	1518 S. Washington Street	  	Crawfordsville	  	IN	  	47933	  	Lease

 II-A-12 

															
	 Property ID
	  	 Obligor
	  	 Concept
	  	 Address 1
	  	 City
	  	 ST
	  	 Zip Code
	  	 Investment
Type

	P0001112	  	Arby’s Restaurant Group	  	Arby’s	  	545 S. State Road 67	  	Mooresville	  	IN	  	46158	  	Lease
	P0001114	  	U.S. Beef Corporation	  	Arby’s	  	437 W. Grand Ave	  	Chickasa	  	OK	  	73018	  	Lease
	P0001117	  	CJM Enterprises, Inc.	  	Doc’s Bar-B-Q	  	1601 N. Mississippi Ave	  	Ada	  	OK	  	74820	  	Lease
	P0001118	  	Seed Restaurant Group Inc.	  	Fazoli’s	  	1550 Appleton Road	  	Menasha	  	WI	  	54952	  	Lease
	P0001119	  	Seed Restaurant Group Inc.	  	Fazoli’s	  	498 SE State Route 291	  	Lees Summit	  	MO	  	64063	  	Lease
	P0001120	  	Seed Restaurant Group Inc.	  	Fazoli’s	  	2333 Missouri Blvd	  	Jefferson City	  	MO	  	65109	  	Lease
	P0001121	  	Seed Restaurant Group Inc.	  	Fazoli’s	  	5550 Highway 52 N	  	Rochester	  	MN	  	55901	  	Lease
	P0001122	  	Seed Restaurant Group Inc.	  	Fazoli’s	  	439 W. Coliseum Blvd	  	Fort Wayne	  	IN	  	46805	  	Lease
	P0001124	  	Seed Restaurant Group Inc.	  	Fazoli’s	  	810 SW US Highway 40	  	Blue Springs	  	MO	  	64015	  	Lease
	P0001157	  	Crème de la Crème	  	Crème de la Crème	  	7550 Park Meadows Dr	  	Lone Tree	  	CO	  	80124	  	Lease
	P0001158	  	Crème de la Crème	  	Crème de la Crème	  	4625 Weaver Parkway	  	Warrenville	  	IL	  	60555	  	Lease
	P0001159	  	Crème de la Crème	  	Crème de la Crème	  	4600 West 115th Street	  	Leawood	  	KS	  	66211	  	Lease
	P0001167	  	Regal Entertainment, Inc.	  	Regal Cinemas	  	950 Foxcroft Avenue	  	Martinsburg	  	WV	  	25401	  	Lease
	P0001168	  	Carmike Cinemas, Inc.	  	Carmike Cinemas	  	1550 Pulsar Drive	  	Colorado Springs	  	CO	  	80916	  	Lease
	P0001169	  	Carmike Cinemas, Inc.	  	Carmike Cinemas	  	1807 Martin Luther King Jr. Blvd	  	Durham	  	NC	  	27707	  	Lease
	P0001170	  	Carmike Cinemas, Inc.	  	Carmike Cinemas	  	5320 Forest Drive	  	Columbia	  	SC	  	29206	  	Lease
	P0001171	  	Carmike Cinemas, Inc.	  	Carmike Cinemas	  	3636 Manhattan Ave	  	Ft. Collins	  	CO	  	80526	  	Lease
	P0001172	  	Carmike Cinemas, Inc.	  	Carmike Cinemas	  	4822 Koger Blvd	  	Greensboro	  	NC	  	27407	  	Lease
	P0001173	  	Carmike Cinemas, Inc.	  	Carmike Cinemas	  	201 Tall Pines Avenue	  	Longview	  	TX	  	75605	  	Lease
	P0001174	  	Carmike Cinemas, Inc.	  	Carmike Cinemas	  	111 Cinema Drive	  	Wilmington	  	NC	  	28403	  	Lease
	P0001203	  	Carmike Cinemas, Inc.	  	Carmike Cinemas	  	3547 Reynolda Road	  	Winston-Salem	  	NC	  	27106	  	Lease
	P0001204	  	Carrols Corporation	  	Burger King	  	1892 W. Market Street	  	Akron	  	OH	  	44313	  	Lease
	P0001205	  	Carrols Corporation	  	Burger King	  	2490 Shawnee Road	  	Lima	  	OH	  	45806	  	Lease
	P0001206	  	Platinum Restaurant Group	  	Eddie Merlot’s	  	1502 Illinois Road South	  	Ft. Wayne	  	IN	  	46804	  	Lease
	P0001207	  	Platinum Restaurant Group	  	Eddie Merlot’s	  	3645 E. 96th Street	  	Indianapolis	  	IN	  	46240	  	Lease
	P0001208	  	Carrols Corporation	  	Burger King	  	365 Amherst Street	  	Buffalo	  	NY	  	14207	  	Lease
	P0001209	  	Carrols Corporation	  	Burger King	  	1083 Hertel Avenue	  	Buffalo	  	NY	  	14216	  	Lease
	P0001210	  	Carrols Corporation	  	Burger King	  	1459 French Road	  	Cheektowaga	  	NY	  	14225	  	Lease
	P0001211	  	Carrols Corporation	  	Burger King	  	34 Hamburg Street	  	East Aurora	  	NY	  	14052	  	Lease
	P0001212	  	Carrols Corporation	  	Burger King	  	6933 Erie Road	  	Evans	  	NY	  	14047	  	Lease
	P0001213	  	Carrols Corporation	  	Burger King	  	937 Fairmount Avenue	  	Jamestown	  	NY	  	14701	  	Lease
	P0001214	  	Carrols Corporation	  	Burger King	  	3701 Diann Marie Road	  	Louisville	  	KY	  	40242	  	Lease
	P0001216	  	Carrols Corporation	  	Burger King	  	6450 Outer Loop	  	Louisville	  	KY	  	40228	  	Lease
	P0001217	  	Carrols Corporation	  	Burger King	  	2553 Military Road	  	Niagara Falls	  	NY	  	14304	  	Lease
	P0001218	  	Carrols Corporation	  	Burger King	  	10 South Cascade Street	  	Springville	  	NY	  	14141	  	Lease
	P0001221	  	Capitol Racquet Sports, Inc.	  	Courthouse Athletic Club	  	300 Glen Creek Road NW	  	Salem	  	OR	  	97304	  	Lease
	P0001222	  	Capitol Racquet Sports, Inc.	  	Courthouse Athletic Club	  	6250 Commercial St S	  	Salem	  	OR	  	97306	  	Lease

 II-A-13 

															
	 Property ID
	  	 Obligor
	  	 Concept
	  	 Address 1
	  	 City
	  	 ST
	  	 Zip Code
	  	 Investment
Type

	P0001223	  	Capitol Racquet Sports, Inc.	  	Courthouse Athletic Club	  	4132 Devonshire N	  	Salem	  	OR	  	97305	  	Lease
	P0001224	  	Capitol Racquet Sports, Inc.	  	Courthouse Athletic Club	  	6425 Wheatland Road N	  	Salem	  	OR	  	97303	  	Lease
	P0001225	  	Capitol Racquet Sports, Inc.	  	Courthouse Athletic Club	  	2975 River Road S	  	Salem	  	OR	  	97302	  	Lease
	P0001226	  	Carmike Cinemas, Inc.	  	Carmike Cinemas	  	3930 E. DuPont Road	  	Fort Wayne	  	IN	  	46825	  	Lease
	P0001220	  	Pike Holding Nursery LLC	  	Pike Nurseries	  	6100 Lawrenceville Highway	  	Atlanta	  	GA	  	30084	  	Lease
	P0001234	  	Aspen Education Group, Inc.	  	Academy of the Sierras	  	42675 Road 44	  	Reedley	  	CA	  	93654	  	Lease
	P0001235	  	Aspen Education Group, Inc.	  	Academy at Swift River	  	151 South Street	  	Cummington/Ashfield/Plainfield	  	MA	  	01026	  	Lease
	P0001236	  	Aspen Education Group, Inc.	  	New Leaf Academy	  	2075 N. Rugby Road	  	Hendersonville	  	NC	  	28791	  	Lease
	P0001237	  	Aspen Education Group, Inc.	  	Bromley Brook School	  	2595 Depot Street	  	Manchester	  	VT	  	05255	  	Lease
	P0001238	  	Plastech Engineered Products	  	Manufacturer	  	1833 Frenchtown Center Drive	  	Monroe	  	MI	  	48162	  	Lease
	P0001239	  	Dickinson Theatres, Inc.	  	Dickinson Theatres	  	8601 W. 135th Street	  	Overland Park	  	KS	  	66223	  	Lease
	P0001240	  	Dickinson Theatres, Inc.	  	Dickinson Theatres	  	1325 N. Litchfield Road	  	Goodyear	  	AZ	  	85336	  	Lease
	P0001241	  	PamCo. Inc.	  	Office Bldg	  	425 Maestro Drive	  	Reno	  	NV	  	89511	  	Lease
	P0001242	  	NPC International, Inc.	  	Pizza Hut	  	200 East Taylor Street	  	Creston	  	IA	  	50801	  	Lease
	P0001243	  	Q’s Restaurant Group	  	Cheddar’s Casual Café	  	11135 Causeway Boulevard	  	Brandon	  	FL	  	33511	  	Lease
	P0001244	  	Formed Fiber Technologies	  	Manufacturing	  	1630 Ferguson Court	  	Sidney	  	OH	  	45365	  	Lease
	P0001245	  	Aspen Education Group, Inc.	  	Mount Bachelor Academy	  	33051 N.E. Ochoco Highway	  	Prineville	  	OR	  	97754	  	Lease
	P0001247	  	Automotive Remarketing Group, Inc.	  	Auto/RV Auctions	  	11982 New Kings Road	  	Jacksonville	  	FL	  	32219	  	Lease
	P0001248	  	Automotive Remarketing Group, Inc.	  	Auto/RV Auctions	  	8544 E. Admiral Place	  	Tulsa	  	OK	  	74115	  	Lease
	P0001249	  	Automotive Remarketing Group, Inc.	  	Auto/RV Auctions	  	2415 South Hwy 101	  	Greenville	  	SC	  	29651	  	Lease
	P0001250	  	Crème de la Crème	  	Crème de la Crème	  	501 Oakmont Lane	  	Westmont	  	IL	  	60559	  	Lease
	P0001252	  	Hardee’s Foods Systems, Inc.	  	Hardee’s	  	1208 Industrial Boulevard	  	East Ellijay	  	GA	  	30539	  	Lease
	P0001253	  	Hardee’s Foods Systems, Inc.	  	Hardee’s	  	451 W. Ottawa Street	  	Paxton	  	IL	  	60957	  	Lease
	P0001254	  	Heartland Food Corp.	  	Burger King	  	408 N. Lincoln Road	  	Escanaba	  	MI	  	49829	  	Lease
	P0001255	  	Heartland Food Corp.	  	Burger King	  	800 S. Washburn St	  	Oshkosh	  	WI	  	54904	  	Lease
	P0001256	  	Heartland Food Corp.	  	Burger King	  	13348 Washington Ave	  	Sturtevant	  	WI	  	60617	  	Lease
	P0001257	  	Hometown Folks, LLC	  	Burger King	  	2635 Decatur Pike	  	Athens	  	TN	  	37303	  	Lease
	P0001258	  	L & D Foods, Inc.	  	Wendy’s	  	6834 Wesley Street	  	Greenville	  	TX	  	75402	  	Lease
	P0001259	  	Arby’s Restaurant Group	  	Arby’s	  	1010 Foxcroft Ave	  	Martinsburg	  	WV	  	25401	  	Lease
	P0001261	  	Arby’s Restaurant Group	  	Arby’s	  	1224 S. Mission Street	  	Mount Pleasant	  	MI	  	48858	  	Lease
	P0001262	  	Arby’s Restaurant Group	  	Arby’s	  	44905 Mound	  	Sterling Heights	  	MI	  	48314	  	Lease
	P0001263	  	Trefz & Trefz, Inc.	  	Arby’s	  	2209 Cherry Road	  	Rock Hill	  	SC	  	29732	  	Lease
	P0001265	  	Harris Foods	  	Wendy’s	  	177 N Lee St	  	Forsyth	  	GA	  	31029	  	Lease

 II-A-14 

															
	 Property ID
	  	 Obligor
	  	 Concept
	  	 Address 1
	  	 City
	  	 ST
	  	 Zip Code
	  	 Investment
Type

	P0001266	  	Harris Foods	  	Wendy’s	  	1961 Eatonton Rd	  	Madison	  	GA	  	30650	  	Lease
	P0000339	  	Tacala, L.L.C.	  	Taco Bell	  	4121 Hixson Pike	  	Chattanooga	  	TN	  	37415-3111	  	Lease
	P0001110	  	Golden Partners	  	Golden Corral	  	5001 Warden Road	  	North Little Rock	  	AR	  	72116	  	Lease
	P0001096	  	NPC International, Inc.	  	Pizza Hut	  	708 Jackson Street	  	Pana	  	IL	  	62557	  	Lease

 II-A-15 

 SCHEDULE II 

PROPERTY EXCEPTIONS 

Construction/Improvements 
  

													
	 Property
 ID
	 	 Asset/
Property
Name
	 	 Address
	 	 City
	 	 ST
	 	 Zip

Code
	 	 Clarification/Other Issues

	 P0001234
	 	 Aspen

Education
	 	42675 Road 44	 	 Reedley, CA

93654
	 	CA	 	93654	 	During last six months of lease term, Lessor is responsible for making capital improvements
	 P0001235
	 	 Aspen

Education
	 	151 South Street	 	 Cummington,
 MA
01026
	 	MA	 	01026	 	During last six months of lease term, Lessor is responsible for making capital improvements
	 P0001236
	 	 Aspen

Education
	 	 2075 N. Rugby

Road
	 	 Hendersonville,
 NC
28791
	 	NC	 	28791	 	During last six months of lease term, Lessor is responsible for making capital improvements
	 P0001237
	 	 Aspen

Education
	 	2595 Depot St.	 	 Manchester
 Center,
VT
 05255
	 	VT	 	05255	 	During last six months of lease term, Lessor is responsible for making capital improvements

 Bankruptcy 
  

													
	 Property
 ID
	 	 Asset/
Property
Name
	 	 Address
	 	 City
	 	 ST
	 	 Zip

Code
	 	 Clarification/Other Issues

	P0000335	 	Black Angus	 	7606 W. Bell Road	 	Glendale	 	AZ	 	85308	 	Bankruptcy plan has been confirmed and the lease has been accepted

 II-1 

 SCHEDULE III-A 

EQUIPMENT LOANS 
  

															
	 Property ID
	 	 Obligor
	 	 Concept
	 	 Address 1
	 	 City
	 	 ST
	 	 Zip Code
	 	 Investment Type

	 E000787
	 	 Sky Ventures,

LLC
	 	Pizza Hut	 	Equipment associated with the 32 properties above	 	 Golden
 Valley
	 	MN	 	55247	 	Equipment Note
	 E000838
	 	CBH2O	 	 Camelback
 Ski
Resort
	 	#1 Camelback Road	 	Tannersville	 	PA	 	18372	 	Equipment note
	 P0000917
	 	 Kansas
 Corral
	 	 Golden
 Corral
	 	616 So. Ridge Road Circle	 	Wichita	 	KS	 	67209	 	Lease with additional equipment note
	 P0000918
	 	 Kansas
 Corral
	 	 Golden
 Corral
	 	2830 W. 18th Avenue	 	Emporia	 	KS	 	66801	 	Lease with additional equipment note

 III-1 

 SCHEDULE III 

EQUIPMENT LOAN EXCEPTIONS 
 None. 

 SCHEDULE IV 

AMORTIZATION SCHEDULE 
  

					
	
                Date    
            
	  	Scheduled Series
2006-1 Balance	  	Scheduled Series
2005-1 Balance
	 Series

Closing

Date
	  	301,820,000	  	436,769,000
	 3/20/2006
	  	301,820,000	  	436,110,000
	 4/20/2006
	  	301,384,000	  	435,447,000
	 5/20/2006
	  	300,947,000	  	434,781,000
	 6/20/2006
	  	300,507,000	  	434,112,000
	 7/20/2006
	  	300,065,000	  	433,439,000
	 8/20/2006
	  	299,620,000	  	432,763,000
	 9/20/2006
	  	299,174,000	  	432,083,000
	 10/20/2006
	  	298,725,000	  	431,400,000
	 11/20/2006
	  	298,274,000	  	430,714,000
	 12/20/2006
	  	297,821,000	  	430,024,000
	 1/20/2007
	  	297,365,000	  	429,331,000
	 2/20/2007
	  	296,908,000	  	428,635,000
	 3/20/2007
	  	296,447,000	  	427,935,000
	 4/20/2007
	  	295,985,000	  	427,231,000
	 5/20/2007
	  	295,520,000	  	426,524,000
	 6/20/2007
	  	295,053,000	  	425,813,000
	 7/20/2007
	  	294,584,000	  	425,099,000
	 8/20/2007
	  	294,112,000	  	424,381,000
	 9/20/2007
	  	293,638,000	  	423,660,000
	 10/20/2007
	  	293,162,000	  	422,935,000
	 11/20/2007
	  	292,683,000	  	422,206,000
	 12/20/2007
	  	292,202,000	  	421,474,000
	 1/20/2008
	  	291,718,000	  	420,738,000
	 2/20/2008
	  	291,232,000	  	419,999,000
	 3/20/2008
	  	290,744,000	  	419,255,000
	 4/20/2008
	  	290,253,000	  	418,508,000
	 5/20/2008
	  	289,759,000	  	417,758,000
	 6/20/2008
	  	289,263,000	  	417,003,000
	 7/20/2008
	  	288,765,000	  	416,245,000
	 8/20/2008
	  	288,264,000	  	415,483,000
	 9/20/2008
	  	287,761,000	  	414,717,000
	 10/20/2008
	  	287,255,000	  	413,947,000
	 11/20/2008
	  	286,747,000	  	413,174,000
	 12/20/2008
	  	286,236,000	  	412,397,000
	 1/20/2009
	  	285,723,000	  	411,615,000
	 2/20/2009
	  	285,207,000	  	410,830,000
	 3/20/2009
	  	284,688,000	  	410,041,000
	 4/20/2009
	  	284,167,000	  	409,248,000
	 5/20/2009
	  	283,643,000	  	408,451,000
	 6/20/2009
	  	283,117,000	  	407,650,000
	 7/20/2009
	  	282,587,000	  	406,845,000
	 8/20/2009
	  	282,056,000	  	406,036,000
	 9/20/2009
	  	281,521,000	  	405,223,000
	 10/20/2009
	  	280,984,000	  	404,406,000
	 11/20/2009
	  	280,445,000	  	403,584,000
	 12/20/2009
	  	279,902,000	  	402,759,000
	 1/20/2010
	  	279,357,000	  	401,930,000
	 2/20/2010
	  	278,809,000	  	401,096,000
	 3/20/2010
	  	278,259,000	  	400,258,000
	 4/20/2010
	  	277,705,000	  	399,416,000
	 5/20/2010
	  	277,149,000	  	398,570,000

					
	
                Date    
            
	  	Scheduled Series
2006-1 Balance	  	Scheduled Series
2005-1 Balance
	 6/20/2010
	  	276,590,000	  	397,720,000
	 7/20/2010
	  	276,029,000	  	396,865,000
	 8/20/2010
	  	275,464,000	  	396,006,000
	 9/20/2010
	  	274,897,000	  	395,143,000
	 10/20/2010
	  	274,327,000	  	394,275,000
	 11/20/2010
	  	273,754,000	  	393,403,000
	 12/20/2010
	  	273,178,000	  	392,527,000
	 1/20/2011
	  	272,599,000	  	391,646,000
	 2/20/2011
	  	272,018,000	  	390,761,000
	 3/20/2011
	  	271,433,000	  	389,872,000
	 4/20/2011
	  	270,846,000	  	388,978,000
	 5/20/2011
	  	270,255,000	  	388,080,000
	 6/20/2011
	  	269,662,000	  	387,177,000
	 7/20/2011
	  	269,065,000	  	386,269,000
	 8/20/2011
	  	268,466,000	  	385,357,000
	 9/20/2011
	  	267,864,000	  	384,441,000
	 10/20/2011
	  	267,259,000	  	383,520,000
	 11/20/2011
	  	266,650,000	  	382,594,000
	 12/20/2011
	  	266,039,000	  	381,664,000
	 1/20/2012
	  	265,424,000	  	380,729,000
	 2/20/2012
	  	264,807,000	  	379,789,000
	 3/20/2012
	  	264,186,000	  	378,845,000
	 4/20/2012
	  	263,563,000	  	377,896,000
	 5/20/2012
	  	262,936,000	  	376,942,000
	 6/20/2012
	  	262,306,000	  	375,984,000
	 7/20/2012
	  	261,673,000	  	375,020,000
	 8/20/2012
	  	261,036,000	  	374,052,000
	 9/20/2012
	  	260,397,000	  	373,079,000
	 10/20/2012
	  	259,754,000	  	372,101,000
	 11/20/2012
	  	259,109,000	  	371,119,000
	 12/20/2012
	  	258,459,000	  	370,131,000
	 1/20/2013
	  	257,807,000	  	369,138,000
	 2/20/2013
	  	257,152,000	  	368,141,000
	 3/20/2013
	  	256,493,000	  	367,138,000
	 4/20/2013
	  	255,830,000	  	366,131,000
	 5/20/2013
	  	255,165,000	  	365,118,000
	 6/20/2013
	  	254,496,000	  	364,100,000
	 7/20/2013
	  	253,824,000	  	363,078,000
	 8/20/2013
	  	253,149,000	  	362,050,000
	 9/20/2013
	  	252,470,000	  	361,017,000
	 10/20/2013
	  	251,787,000	  	359,979,000
	 11/20/2013
	  	251,102,000	  	358,935,000
	 12/20/2013
	  	250,413,000	  	357,887,000
	 1/20/2014
	  	249,720,000	  	356,833,000
	 2/20/2014
	  	249,024,000	  	355,774,000
	 3/20/2014
	  	248,324,000	  	354,709,000
	 4/20/2014
	  	247,621,000	  	353,640,000
	 5/20/2014
	  	246,915,000	  	352,564,000
	 6/20/2014
	  	246,205,000	  	351,484,000
	 7/20/2014
	  	245,491,000	  	350,398,000
	 8/20/2014
	  	244,774,000	  	349,307,000
	 9/20/2014
	  	244,053,000	  	348,210,000
	 10/20/2014
	  	243,329,000	  	347,108,000
	 11/20/2014
	  	242,601,000	  	346,000,000
	 12/20/2014
	  	241,869,000	  	344,887,000

					
	
                Date    
            
	  	Scheduled Series
2006-1 Balance	  	Scheduled Series
2005-1 Balance
	 1/20/2015
	  	241,134,000	  	343,768,000
	 2/20/2015
	  	240,395,000	  	342,644,000
	 3/20/2015
	  	239,652,000	  	341,514,000
	 4/20/2015
	  	238,906,000	  	340,378,000
	 5/20/2015
	  	238,156,000	  	339,237,000
	 6/20/2015
	  	237,402,000	  	338,090,000
	 7/20/2015
	  	236,644,000	  	336,937,000
	 8/20/2015
	  	235,883,000	  	335,778,000
	 9/20/2015
	  	235,118,000	  	334,614,000
	 10/20/2015
	  	234,349,000	  	333,444,000
	 11/20/2015
	  	233,576,000	  	332,268,000
	 12/20/2015
	  	232,799,000	  	331,086,000
	 1/20/2016
	  	232,019,000	  	329,898,000
	 2/20/2016
	  	231,234,000	  	328,704,000
	 3/20/2016
	  	230,446,000	  	327,504,000
	 4/20/2016
	  	229,653,000	  	326,298,000
	 5/20/2016
	  	228,857,000	  	325,087,000
	 6/20/2016
	  	228,056,000	  	323,869,000
	 7/20/2016
	  	227,252,000	  	322,645,000
	 8/20/2016
	  	226,444,000	  	321,415,000
	 9/20/2016
	  	225,631,000	  	320,179,000
	 10/20/2016
	  	224,815,000	  	318,936,000
	 11/20/2016
	  	223,994,000	  	317,688,000
	 12/20/2016
	  	223,170,000	  	316,433,000
	 1/20/2017
	  	222,341,000	  	315,172,000
	 2/20/2017
	  	221,508,000	  	313,904,000
	 3/20/2017
	  	220,671,000	  	312,631,000
	 4/20/2017
	  	219,830,000	  	311,351,000
	 5/20/2017
	  	218,984,000	  	310,064,000
	 6/20/2017
	  	218,134,000	  	308,771,000
	 7/20/2017
	  	217,280,000	  	307,472,000
	 8/20/2017
	  	216,422,000	  	306,166,000
	 9/20/2017
	  	215,560,000	  	304,853,000
	 10/20/2017
	  	214,693,000	  	303,534,000
	 11/20/2017
	  	213,822,000	  	302,209,000
	 12/20/2017
	  	212,946,000	  	300,877,000
	 1/20/2018
	  	212,066,000	  	299,538,000
	 2/20/2018
	  	211,182,000	  	298,192,000
	 3/20/2018
	  	210,293,000	  	296,840,000
	 4/20/2018
	  	209,400,000	  	295,481,000
	 5/20/2018
	  	208,502,000	  	294,115,000
	 6/20/2018
	  	207,600,000	  	292,742,000
	 7/20/2018
	  	206,694,000	  	291,363,000
	 8/20/2018
	  	205,782,000	  	289,976,000
	 9/20/2018
	  	204,867,000	  	288,583,000
	 10/20/2018
	  	203,946,000	  	287,183,000
	 11/20/2018
	  	203,022,000	  	285,775,000
	 12/20/2018
	  	202,092,000	  	284,361,000
	 1/20/2019
	  	201,158,000	  	282,939,000
	 2/20/2019
	  	200,219,000	  	281,511,000
	 3/20/2019
	  	199,276,000	  	280,075,000
	 4/20/2019
	  	198,327,000	  	278,632,000
	 5/20/2019
	  	197,374,000	  	277,182,000
	 6/20/2019
	  	196,417,000	  	275,725,000
	 7/20/2019
	  	195,454,000	  	274,260,000

									
	
                Date    
            
	  	Scheduled Series
2006-1
Balance	 	  	Scheduled Series
2005-1
Balance	 
	 8/20/2019
	  	 	194,487,000	  	  	 	272,788,000	  
	 9/20/2019
	  	 	193,514,000	  	  	 	271,309,000	  
	 10/20/2019
	  	 	192,537,000	  	  	 	269,822,000	  
	 11/20/2019
	  	 	191,555,000	  	  	 	268,328,000	  
	 12/20/2019
	  	 	190,569,000	  	  	 	266,826,000	  
	 1/20/2020
	  	 	189,577,000	  	  	 	265,317,000	  
	 2/20/2020
	  	 	188,580,000	  	  	 	263,800,000	  
	 3/20/2020
	  	 	187,578,000	  	  	 	262,276,000	  
	 4/20/2020
	  	 	186,572,000	  	  	 	260,744,000	  
	 5/20/2020
	  	 	185,560,000	  	  	 	259,205,000	  
	 6/20/2020
	  	 	184,543,000	  	  	 	257,658,000	  
	 7/20/2020
	  	 	183,521,000	  	  	 	—  	  
	 8/20/2020
	  	 	182,494,000	  	  			
	 9/20/2020
	  	 	181,462,000	  	  			
	 10/20/2020
	  	 	180,425,000	  	  			
	 11/20/2020
	  	 	179,382,000	  	  			
	 12/20/2020
	  	 	178,334,000	  	  			
	 1/20/2021
	  	 	177,281,000	  	  			
	 2/20/2021
	  	 	176,223,000	  	  			
	 3/20/2021
	  	 	—

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00196-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00196-of-00352.parquet"}]]