Document:

EXHIBIT 10.2

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                        MORTGAGE LOAN PURCHASE AGREEMENT

                                     between

                     BEAR STEARNS COMMERCIAL MORTGAGE, INC.

                                    as Seller

                                       and

                BEAR STEARNS COMMERCIAL MORTGAGE SECURITIES INC.

                                  as Purchaser

                            Dated as of April 5, 2007

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                              TABLE OF CONTENTS

1.    AGREEMENT TO PURCHASE..................................................3

2.    CONVEYANCE OF MORTGAGE LOANS...........................................3

3.    EXAMINATION OF MORTGAGE FILES AND DUE DILIGENCE REVIEW................10

4.    REPRESENTATIONS, WARRANTIES AND COVENANTS OF SELLER AND PURCHASER.....12

5.    REMEDIES UPON BREACH OF REPRESENTATIONS AND WARRANTIES MADE BY
      SELLER................................................................15

6.    CLOSING...............................................................20

7.    CLOSING DOCUMENTS.....................................................21

8.    COSTS.................................................................23

9.    NOTICES...............................................................23

10.   SEVERABILITY OF PROVISIONS............................................24

11.   FURTHER ASSURANCES....................................................24

12.   SURVIVAL..............................................................24

13.   GOVERNING LAW.........................................................24

14.   BENEFITS OF MORTGAGE LOAN PURCHASE AGREEMENT..........................25

15.   MISCELLANEOUS.........................................................25

16.   ENTIRE AGREEMENT......................................................25

Exhibit 1   Mortgage Loan Schedule
Exhibit 2   Representations and Warranties
Exhibit 3   Bill of Sale
Exhibit 4   Power of Attorney

                            Index of Defined Terms

Affected Loan(s)......................................................17
Agreement..............................................................2
Certificate Purchase Agreement.........................................2
Certificates...........................................................2
Closing Date...........................................................3
Collateral Information................................................11
Crossed Mortgage Loans................................................17
Defective Mortgage Loan...............................................17
Final Judicial Determination..........................................19
Indemnification Agreement.............................................13
Initial Purchasers.....................................................2
Master Servicer........................................................2
Material Breach.......................................................16
Material Document Defect..............................................16
Memorandum.............................................................2
MERS...................................................................5
Mortgage File..........................................................4
Mortgage Loan Schedule.................................................3
Mortgage Loans.........................................................2
Officer's Certificate..................................................7
Other Mortgage Loans...................................................2
Pooling and Servicing Agreement........................................2
Private Certificates...................................................2
Prospectus Supplement..................................................2
Public Certificates....................................................2
Purchaser..............................................................2
Repurchased Loan......................................................17
Seller.................................................................2
Special Servicer.......................................................2
Trust..................................................................2
Trustee................................................................2
Underwriters...........................................................2
Underwriting Agreement.................................................2

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                        MORTGAGE LOAN PURCHASE AGREEMENT

                 (BEAR STEARNS COMMERCIAL MORTGAGE, INC. LOANS)

Mortgage Loan Purchase Agreement ("Agreement"), dated as of April 5, 2007,
between Bear Stearns Commercial Mortgage, Inc. ("Seller") and Bear Stearns
Commercial Mortgage Securities Inc. ("Purchaser").

Seller agrees to sell and Purchaser agrees to purchase certain mortgage loans
listed on Exhibit 1 hereto (the "Mortgage Loans") as described herein. Purchaser
will convey the Mortgage Loans to a trust (the "Trust") created pursuant to a
Pooling and Servicing Agreement (the "Pooling and Servicing Agreement"), to be
dated as of April 1, 2007 between Purchaser, as depositor, Wells Fargo Bank,
National Association, as master servicer (the "Master Servicer"), Centerline
Servicing Inc., as special servicer (the "Special Servicer"), LaSalle Bank
National Association, as trustee and custodian (the "Trustee") and Wells Fargo
Bank, National Association, as paying agent, certificate registrar and
authenticating agent. In exchange for the Mortgage Loans and certain other
mortgage loans to be purchased by Purchaser (collectively the "Other Mortgage
Loans"), the Trust will issue to the Depositor pass-through certificates to be
known as Bear Stearns Commercial Mortgage Securities Inc., Commercial Mortgage
Pass-Through Certificates, Series 2007-TOP26 (the "Certificates"). The
Certificates will be issued pursuant to the Pooling and Servicing Agreement.

Capitalized terms used herein but not defined herein shall have the meanings
assigned to them in the Pooling and Servicing Agreement.

The Class A-1, Class A-2, Class A-3, Class A-AB, Class A-4, Class A-1A, Class
A-M and Class A-J Certificates (the "Public Certificates") will be sold by
Purchaser to Bear, Stearns & Co. Inc. and Morgan Stanley & Co. Incorporated (the
"Underwriters"), pursuant to an Underwriting Agreement, between Purchaser and
the Underwriters, dated April 5, 2007 (the "Underwriting Agreement"), and the
Class X-1, Class X-2, Class B, Class C, Class D, Class E, Class F, Class G,
Class H, Class J, Class K, Class L, Class M, Class N, Class O, Class P, Class
R-I, Class R-II and Class R-III Certificates (the "Private Certificates") will
be sold by Purchaser to Bear, Stearns & Co. Inc. and Morgan Stanley & Co.
Incorporated (the "Initial Purchasers") pursuant to a Certificate Purchase
Agreement, between Purchaser and the Initial Purchasers, dated April 5, 2007
(the "Certificate Purchase Agreement"). The Underwriters will offer the Public
Certificates for sale publicly pursuant to a Prospectus dated September 13,
2006, as supplemented by a Prospectus Supplement dated April 5, 2007 (together,
the "Prospectus Supplement") and the Initial Purchasers will offer the Private
Certificates for sale in transactions exempt from the registration requirements
of the Securities Act of 1933 pursuant to a Private Placement Memorandum dated
April 5, 2007 (the "Memorandum").

In consideration of the mutual agreements contained herein, Seller and Purchaser
hereby agree as follows:

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1. AGREEMENT TO PURCHASE.

1.1 Seller agrees to sell, and Purchaser agrees to purchase, on a servicing
released basis, the Mortgage Loans identified on the schedule (the "Mortgage
Loan Schedule") annexed hereto as Exhibit 1, as such schedule may be amended to
reflect the actual Mortgage Loans accepted by Purchaser pursuant to the terms
hereof. The Cut-Off Date with respect to the Mortgage Loans is April 1, 2007.
The Mortgage Loans will have an aggregate principal balance as of the close of
business on the Cut-Off Date, after giving effect to any payments due on or
before such date, whether or not received, of $797,149,126. The sale of the
Mortgage Loans shall take place on April 18, 2007 or such other date as shall be
mutually acceptable to the parties hereto (the "Closing Date"). The purchase
price to be paid by Purchaser for the Mortgage Loans shall equal the amount set
forth as such purchase price in a letter dated as of the date hereof, between
the parties to this Agreement and entered into in connection with this Agreement
and the issuance of the Certificates, which purchase price excludes accrued
interest and applicable deal expenses. The purchase price shall be paid to
Seller by wire transfer in immediately available funds on the Closing Date.

1.2 On the Closing Date, Purchaser will assign to the Trustee pursuant to the
Pooling and Servicing Agreement all of its right, title and interest in and to
the Mortgage Loans and its rights under this Agreement (to the extent set forth
in Section 14 hereof), and the Trustee shall succeed to such right, title and
interest in and to the Mortgage Loans and Purchaser's rights under this
Agreement (to the extent set forth in Section 14 hereof).

2. CONVEYANCE OF MORTGAGE LOANS.

2.1 Effective as of the Closing Date, subject only to receipt of the
consideration referred to in Section 1 hereof and the satisfaction of the
conditions specified in Sections 6 and 7 hereof, Seller does hereby transfer,
assign, set over and otherwise convey to Purchaser, without recourse, except as
specifically provided herein all the right, title and interest of Seller, with
the understanding that a Servicing Rights Purchase and Sale Agreement, dated
April 1, 2007, will be executed by Seller and the Master Servicer, in and to the
Mortgage Loans identified on the Mortgage Loan Schedule as of the Closing Date.
The Mortgage Loan Schedule, as it may be amended from time to time on or prior
to the Closing Date, shall conform to the requirements of this Agreement and the
Pooling and Servicing Agreement. In connection with such transfer and
assignment, Seller shall deliver to or on behalf of the Trustee, on behalf of
Purchaser, on or prior to the Closing Date, the Mortgage Note (as described in
clause 2.2.1 hereof) for each Mortgage Loan and on or prior to the fifth
Business Day after the Closing Date, five limited powers of attorney
substantially in the form attached hereto as Exhibit 4 in favor of the Trustee
and the Special Servicer to empower the Trustee and, in the event of the failure
or incapacity of the Trustee, the Special Servicer, to submit for recording, at
the expense of Seller, any mortgage loan documents required to be recorded as
described in the Pooling and Servicing Agreement and any intervening assignments
with evidence of recording thereon that are required to be included in the
Mortgage Files (so long as original counterparts have previously been delivered
to the Trustee). Seller agrees to reasonably cooperate with the Trustee and the
Special Servicer in connection with any additional powers of attorney or
revisions thereto that are requested by such parties for purposes of such
recordation. The parties hereto agree that no such power of

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attorney shall be used with respect to any Mortgage Loan by or under
authorization by any party hereto except to the extent that the absence of a
document described in the second preceding sentence with respect to such
Mortgage Loan remains unremedied as of the earlier of (i) the date that is 180
days following the delivery of notice of such absence to Seller, but in no event
earlier than 18 months from the Closing Date, and (ii) the date (if any) on
which such Mortgage Loan becomes a Specially Serviced Mortgage Loan. The Trustee
shall submit such documents, at Seller's expense, after the periods set forth
above, provided, however, the Trustee shall not submit such assignments for
recording if Seller produces evidence that it has sent any such assignment for
recording and certifies that Seller is awaiting its return from the applicable
recording office. In addition, not later than the 30th day following the Closing
Date, Seller shall deliver to or on behalf of the Trustee each of the remaining
documents or instruments specified in Section 2.2 hereof (with such exceptions
as are permitted by this Section 2) with respect to each Mortgage Loan (each, a
"Mortgage File"). (Seller acknowledges that the term "without recourse" does not
modify the duties of Seller under Section 5 hereof.)

2.2 All Mortgage Files, or portions thereof, delivered prior to the Closing Date
are to be held by or on behalf of the Trustee in escrow on behalf of Seller at
all times prior to the Closing Date. The Mortgage Files shall be released from
escrow upon closing of the sale of the Mortgage Loans and payments of the
purchase price therefor as contemplated hereby. The Mortgage File for each
Mortgage Loan shall contain the following documents:

      2.2.1 The original Mortgage Note bearing all intervening endorsements,
endorsed "Pay to the order of LaSalle Bank National Association, as Trustee for
Bear Stearns Commercial Mortgage Securities Inc., Commercial Mortgage
Pass-Through Certificates, Series 2007-TOP26, without recourse, representation
or warranty" or if the original Mortgage Note is not included therein, then a
lost note affidavit, with a copy of the Mortgage Note attached thereto;

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

      2.2.3 The originals of all agreements modifying a Money Term or other
material modification, consolidation and extension agreements, if any, with
evidence of recording thereon, or if any such original modification,
consolidation or extension agreement has been delivered to the appropriate
recording office for recordation and either has not yet been returned

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on or prior to the 45th day following the Closing Date with evidence of
recordation thereon or has been lost after recordation, a true copy of such
modification, consolidation or extension certified by Seller together with (i)
in the case of a delay caused by the public recording office, an Officer's
Certificate of Seller stating that such original modification, consolidation or
extension agreement has been dispatched or sent to the appropriate public
recording official for recordation or (ii) in the case of an original
modification, consolidation or extension agreement that has been lost after
recordation, a certification by the appropriate county recording office where
such document is recorded that such copy is a true and complete copy of the
original recorded modification, consolidation or extension agreement, and the
originals of all assumption agreements, if any;

      2.2.4 An original Assignment of Mortgage for each Mortgage Loan, in form
and substance acceptable for recording, signed by the holder of record in favor
of "LaSalle Bank National Association, as Trustee for Bear Stearns Commercial
Mortgage Securities Inc., Commercial Mortgage Pass-Through Certificates, Series
2007-TOP26," provided, if the related Mortgage has been recorded in the name of
Mortgage Electronic Registration Systems, Inc. ("MERS") or its designee, no such
assignments will be required to be submitted for recording or filing and
instead, Seller shall take all actions as are necessary to cause the Trustee to
be shown as the owner of the related Mortgage on the record of MERS for purposes
of the system of recording transfers of beneficial ownership of mortgages
maintained by MERS and shall deliver to the Master Servicer and the Special
Servicer evidence confirming that the Trustee is shown as the owner on the
record of MERS;

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

      2.2.6 If the related Assignment of Leases is separate from the Mortgage,
the original of such Assignment of Leases with evidence of recording thereon or,
if such Assignment of Leases has not been returned on or prior to the 45th day
following the Closing Date from the applicable public recording office, a copy
of such Assignment of Leases certified by Seller to be a true and complete copy
of the original Assignment of Leases submitted for recording, together with (i)
an original of each assignment of such Assignment of Leases with evidence of
recording thereon and showing a complete recorded chain of assignment from the
named assignee to the holder of record, and if any such assignment of such
Assignment of Leases has not been returned from the applicable public recording
office, a copy of such assignment certified by Seller to be a true and

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complete copy of the original assignment submitted for recording, and (ii) an
original assignment of such Assignment of Leases, in recordable form, signed by
the holder of record in favor of "LaSalle Bank National Association, as Trustee
for Bear Stearns Commercial Mortgage Securities Inc., Commercial Mortgage
Pass-Through Certificates, Series 2007-TOP26," which assignment may be effected
in the related Assignment of Mortgage, provided, if the related Mortgage has
been recorded in the name of MERS or its designee, no assignment of Assignment
of Leases in favor of the Trustee will be required to be recorded or delivered
and instead, Seller shall take all actions as are necessary to cause the Trustee
to be shown as the owner of the related Mortgage on the record of MERS for
purposes of the system of recording transfers of beneficial ownership of
mortgages maintained by MERS and shall deliver to the Master Servicer and the
Special Servicer evidence confirming that the Trustee is shown as the owner on
the record of MERS;

      2.2.7 The original of each guaranty, if any, constituting additional
security for the repayment of such Mortgage Loan;

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

      2.2.9 (A) UCC financing statements (together with all assignments thereof)
and (B) UCC-2 or UCC-3 financing statements to the Trustee executed and
delivered in connection with the Mortgage Loan, provided, if the related
Mortgage has been recorded in the name of MERS or its designee, no such
financing statements will be required to be recorded or delivered and instead,
Seller shall take all actions as are necessary to cause the Trustee to be shown
as the owner of the related Mortgage on the record of MERS for purposes of the
system of recording transfers of beneficial ownership of mortgages maintained by
MERS and shall deliver to the Master Servicer and the Special Servicer evidence
confirming that the Trustee is shown as the owner on the record of MERS;

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

      2.2.11 Copies of any loan agreements, lock-box agreements and
intercreditor agreements (including, without limitation, any Intercreditor
Agreement, and a copy (that is, not the original) of the mortgage note
evidencing the related B Note), if any, related to any Mortgage Loan;

      2.2.12 Either (A) the original of each letter of credit, if any,
constituting additional collateral for such Mortgage Loan, which shall be
assigned and delivered to the Trustee on behalf of the Trust with a copy to be
held by the Primary Servicer (or the Master Servicer), and applied, drawn,
reduced or released in accordance with documents evidencing or securing the
applicable Mortgage Loan, the Pooling and Servicing Agreement and the Primary
Servicing Agreement or (B) the original of each letter of credit, if any,
constituting additional collateral for such Mortgage Loan, which shall be held
by the Primary Servicer (or the Master Servicer) on

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behalf of the Trustee, with a copy to be held by the Trustee, and applied,
drawn, reduced or released in accordance with documents evidencing or securing
the applicable Mortgage Loan, the Pooling and Servicing Agreement and the
Primary Servicing Agreement (it being understood that Seller has agreed (a) that
the proceeds of such letter of credit belong to the Trust, (b) to notify, on or
before the Closing Date, the bank issuing the letter of credit that the letter
of credit and the proceeds thereof belong to the Trust, and to use reasonable
efforts to obtain within 30 days (but in any event to obtain within 90 days)
following the Closing Date, an acknowledgement thereof by the bank (with a copy
of such acknowledgement to be sent to the Trustee) or a reissued letter of
credit and (c) to indemnify the Trust for any liabilities, charges, costs, fees
or other expenses accruing from the failure of Seller to assign all rights to
the letter of credit hereunder including the right and power to draw on the
letter of credit). In the case of clause (B) above, any letter of credit held by
the Primary Servicer (or Master Servicer) shall be held in its capacity as agent
of the Trust, and if the Primary Servicer (or Master Servicer) sells its rights
to service the applicable Mortgage Loan, the Primary Servicer (or Master
Servicer) has agreed to assign the applicable letter of credit to the Trust or
at the direction of the Special Servicer to such party as the Special Servicer
may instruct, in each case, at the expense of the Primary Servicer (or Master
Servicer). The Primary Servicer (or Master Servicer) has agreed to indemnify the
Trust for any loss caused by the ineffectiveness of such assignment;

      2.2.13 The original or a copy of the environmental indemnity agreement, if
any, related to any Mortgage Loan;

      2.2.14 Third-party management agreements for all hotels and for such other
Mortgaged Properties securing Mortgage Loans with a Cut-Off Date principal
balance equal to or greater than $20,000,000;

      2.2.15 Any Environmental Insurance Policy; and

      2.2.16 Any affidavit and indemnification agreement.

The original of each letter of credit referred to in clause 2.2.12 above shall
be delivered to the Primary Servicer, the Master Servicer or the Trustee (as the
case may be) within 45 days of the Closing Date. In addition, a copy of any
ground lease shall be delivered to the Primary Servicer within 30 days of the
Closing Date. Any failure to deliver any ground lease shall constitute a
document defect.

"Officer's Certificate" shall mean a certificate signed by one or more
of the Chairman of the Board, any Vice Chairman, the President, any
Senior Vice President, any Vice President, any Assistant Vice
President, any Treasurer or any Assistant Treasurer.

2.3 The Assignments of Mortgage and assignment of Assignment of Leases referred
to in Sections 2.2.4 and 2.2.6 hereof may be in the form of a single instrument
assigning the Mortgage and the Assignment of Leases to the extent permitted by
applicable law. To avoid the unnecessary expense and administrative
inconvenience associated with the execution and recording or filing of multiple
assignments of mortgages, assignments of leases (to the extent separate from the
mortgages) and assignments of UCC financing statements, Seller shall execute, in
accordance with Section 2.6 hereof, the assignments of mortgages, the
assignments of leases

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(to the extent separate from the mortgages) and the assignments of UCC financing
statements relating to the Mortgage Loans naming the Trustee on behalf of the
Certificateholders as assignee. Notwithstanding the fact that such assignments
of mortgages, assignments of leases (to the extent separate from the assignments
of mortgages) and assignments of UCC financing statements shall name the Trustee
on behalf of the Certificateholders as the assignee, the parties hereto
acknowledge and agree that the Mortgage Loans shall for all purposes be deemed
to have been transferred from Seller to Purchaser and from Purchaser to the
Trustee on behalf of the Certificateholders.

2.4 If Seller cannot deliver, or cause to be delivered, as to any Mortgage Loan,
any of the documents and/or instruments referred to in Sections 2.2.2, 2.2.3,
2.2.5 or 2.2.6 hereof, with evidence of recording thereon, solely because of a
delay caused by the public recording office where such document or instrument
has been delivered for recordation within such 45 day period, but Seller
delivers a photocopy thereof (certified by the appropriate county recorder's
office to be a true and complete copy of the original thereof submitted for
recording), to the Trustee within such 45 day period, Seller shall then deliver
within 90 days after the Closing Date the recorded document (or within such
longer period after the Closing Date as the Trustee may consent to, which
consent shall not be unreasonably withheld so long as Seller is, as certified in
writing to the Trustee no less often than monthly, in good faith attempting to
obtain from the appropriate county recorder's office such original or
photocopy).

2.5 The Trustee, as assignee or transferee of Purchaser, shall be entitled to
all scheduled payments of principal due on the Mortgage Loans after the Cut-Off
Date, all other payments of principal collected after the Cut-Off Date (other
than scheduled payments of principal due on or before the Cut-Off Date), and all
payments of interest on the Mortgage Loans allocable to the period commencing on
the Cut-Off Date. All scheduled payments of principal and interest due on or
before the Cut-Off Date and collected after the Cut-Off Date shall belong to
Seller.

2.6 Within 45 days following the Closing Date, Seller shall deliver and
Purchaser, the Trustee or the agents of either may submit or cause to be
submitted for recordation at the expense of Seller, in the appropriate public
office for real property records, each assignment referred to in clauses 2.2.4
and 2.2.6(ii) above. Within 90 days following the Closing Date, Seller shall
deliver and Purchaser, the Trustee or the agents of either may submit or cause
to be submitted for filing, at the expense of Seller, in the appropriate public
office for Uniform Commercial Code financing statements, the assignment referred
to in clause 2.2.1. If any such document or instrument is lost or returned
unrecorded or unfiled, as the case may be, because of a defect therein, Seller
shall prepare a substitute therefor or cure such defect, and Seller shall, at
its own expense (except in the case of a document or instrument that is lost by
the Trustee), record or file, as the case may be, and deliver such document or
instrument in accordance with this Section 2.

2.7 Documents that are in the possession of Seller, its agents or its
subcontractors that relate to the Mortgage Loans and that are not required to be
delivered to the Trustee shall be shipped by Seller to or at the direction of
the Master Servicer, on behalf of Purchaser, on or prior to the 75th day after
the Closing Date, in accordance with Section 3.1 of the Primary Servicing
Agreement, if applicable.

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2.8 The documents required to be delivered to the Master Servicer (or in the
alternative, the Primary Servicer) shall include, to the extent required to be
(and actually) delivered to Seller pursuant to the applicable Mortgage Loan
documents, copies of the following items: the Mortgage Note, any Mortgage, the
Assignment of Leases and the Assignment of Mortgage, any guaranty/indemnity
agreement, any loan agreement, the insurance policies or certificates, as
applicable, the property inspection reports, any financial statements on the
property, any escrow analysis, the tax bills, the Appraisal, the environmental
report, the engineering report, the asset summary, financial information on the
Borrower/sponsor and any guarantors, any letters of credit, any intercreditor
agreement and any Environmental Insurance Policies. Delivery of any of the
foregoing documents to the Primary Servicer shall be deemed a delivery to the
Master Servicer and satisfy Seller's obligations under this subparagraph.

2.9 Upon the sale of the Mortgage Loans by Seller to Purchaser pursuant to this
Agreement, the ownership of each Mortgage Note, Mortgage and the other contents
of the related Mortgage File shall be vested in Purchaser and its assigns, and
the ownership of all records and documents with respect to the related Mortgage
Loan prepared by or that come into the possession of Seller shall immediately
vest in Purchaser and its assigns, and shall be delivered promptly by Seller to
or on behalf of either the Trustee or the Master Servicer as set forth herein,
subject to the requirements of the Primary Servicing Agreement. Seller's and
Purchaser's records shall reflect the transfer of each Mortgage Loan from Seller
to Purchaser and its assigns as a sale.

2.10 It is the express intent of the parties hereto that the conveyance of the
Mortgage Loans and related property to Purchaser by Seller as provided in this
Section 2 be, and be construed as, an absolute sale of the Mortgage Loans and
related property. It is, further, not the intention of the parties that such
conveyance be deemed a pledge of the Mortgage Loans and related property by
Seller to Purchaser to secure a debt or other obligation of Seller. However, in
the event that, notwithstanding the intent of the parties, the Mortgage Loans or
any related property are held to be the property of Seller, or if for any other
reason this Agreement is held or deemed to create a security interest in the
Mortgage Loans or any related property, then:

      2.10.1 this Agreement shall be deemed to be a security agreement; and

      2.10.2 the conveyance provided for in this Section 2 shall be deemed to be
a grant by Seller to Purchaser of a security interest in all of Seller's right,
title, and interest, whether now owned or hereafter acquired, in and to:

            A. All accounts, general intangibles, chattel paper, instruments,
      documents, money, deposit accounts, certificates of deposit, goods,
      letters of credit, advices of credit and investment property consisting
      of, arising from or relating to any of the following property: the
      Mortgage Loans identified on the Mortgage Loan Schedule, including the
      related Mortgage Notes, Mortgages, security agreements, and title, hazard
      and other insurance policies, all distributions with respect thereto
      payable after the Cut-Off Date, all substitute or replacement Mortgage
      Loans and all distributions with respect thereto, and the Mortgage Files;

            B. All accounts, general intangibles, chattel paper, instruments,
      documents, money, deposit accounts, certificates of deposit, goods,
      letters of credit, advices of credit,

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      investment property and other rights arising from or by virtue of the
      disposition of, or collections with respect to, or insurance proceeds
      payable with respect to, or claims against other Persons with respect to,
      all or any part of the collateral described in clause (A) above (including
      any accrued discount realized on liquidation of any investment purchased
      at a discount); and

            C. All cash and non-cash proceeds of the collateral described in
      clauses (A) and (B) above.

2.11 The possession by Purchaser or its designee of the Mortgage Notes, the
Mortgages, and such other goods, letters of credit, advices of credit,
instruments, money, documents, chattel paper or certificated securities shall be
deemed to be possession by the secured party or possession by a purchaser for
purposes of perfecting the security interest pursuant to the Uniform Commercial
Code (including, without limitation, Section 9-313 thereof) as in force in the
relevant jurisdiction. Notwithstanding the foregoing, Seller makes no
representation or warranty as to the perfection of any such security interest.

2.12 Notifications to Persons holding such property, and acknowledgments,
receipts, or confirmations from persons holding such property, shall be deemed
to be notifications to, or acknowledgments, receipts or confirmations from,
securities intermediaries, bailees or agents of, or Persons holding for,
Purchaser or its designee, as applicable, for the purpose of perfecting such
security interest under applicable law.

2.13 Seller shall, to the extent consistent with this Agreement, take such
reasonable actions as may be necessary to ensure that, if this Agreement were
deemed to create a security interest in the property described above, such
security interest would be deemed to be a perfected security interest of first
priority under applicable law and will be maintained as such throughout the term
of this Agreement. In such case, Seller shall file all filings necessary to
maintain the effectiveness of any original filings necessary under the Uniform
Commercial Code as in effect in any jurisdiction to perfect such security
interest in such property. In connection herewith, Purchaser shall have all of
the rights and remedies of a secured party and creditor under the Uniform
Commercial Code as in force in the relevant jurisdiction.

2.14 Notwithstanding anything to the contrary contained herein, and subject to
Section 2.1 hereof, Purchaser shall not be required to purchase any Mortgage
Loan as to which any Mortgage Note (endorsed as described in clause 2.2.1
hereof) required to be delivered to or on behalf of the Trustee or the Master
Servicer pursuant to this Section 2 on or before the Closing Date is not so
delivered, or is not properly executed or is defective on its face, and
Purchaser's acceptance of the related Mortgage Loan on the Closing Date shall in
no way constitute a waiver of such omission or defect or of Purchaser's or its
successors' and assigns' rights in respect thereof pursuant to Section 5 hereof.

3.    EXAMINATION OF MORTGAGE FILES AND DUE DILIGENCE REVIEW.

3.1 Seller shall (i) deliver to Purchaser on or before the Closing Date a
diskette acceptable to Purchaser that contains such information about the
Mortgage Loans as may be reasonably

                                       10
<PAGE>

requested by Purchaser, (ii) deliver to Purchaser investor files (collectively
the "Collateral Information") with respect to the assets proposed to be included
in the Mortgage Pool and made available at Purchaser's headquarters in New York,
and (iii) otherwise cooperate fully with Purchaser in its examination of the
credit files, underwriting documentation and Mortgage Files for the Mortgage
Loans and its due diligence review of the Mortgage Loans. The fact that
Purchaser has conducted or has failed to conduct any partial or complete
examination of the credit files, underwriting documentation or Mortgage Files
for the Mortgage Loans shall not affect the right of Purchaser or the Trustee to
cause Seller to cure any Material Document Defect or Material Breach (each as
defined below), or to repurchase or replace the defective Mortgage Loans
pursuant to Section 5 hereof.

3.2 On or prior to the Closing Date, Seller shall allow representatives of any
of Purchaser, each Underwriter, each Initial Purchaser, the Trustee, the Special
Servicer and each Rating Agency to examine and audit all books, records and
files pertaining to the Mortgage Loans, Seller's underwriting procedures and
Seller's ability to perform or observe all of the terms, covenants and
conditions of this Agreement. Such examinations and audits shall take place at
one or more offices of Seller during normal business hours and shall not be
conducted in a manner that is disruptive to Seller's normal business operations
upon reasonable prior advance notice. In the course of such examinations and
audits, Seller will make available to such representatives of any of Purchaser,
each Underwriter, each Initial Purchaser, the Trustee, the Special Servicer and
each Rating Agency reasonably adequate facilities, as well as the assistance of
a sufficient number of knowledgeable and responsible individuals who are
familiar with the Mortgage Loans and the terms of this Agreement, and Seller
shall cooperate fully with any such examination and audit in all material
respects. On or prior to the Closing Date, Seller shall provide Purchaser with
all material information regarding Seller's financial condition and access to
knowledgeable financial or accounting officers for the purpose of answering
questions with respect to Seller's financial condition, financial statements as
provided to Purchaser or other developments affecting Seller's ability to
consummate the transactions contemplated hereby or otherwise affecting Seller in
any material respect. Within 45 days after the Closing Date, Seller shall
provide the Master Servicer or Primary Servicer, if applicable, with any
additional information identified by the Master Servicer or Primary Servicer, if
applicable, as necessary to complete the CMSA Property File, to the extent that
such information is available.

3.3 Purchaser may exercise any of its rights hereunder through one or more
designees or agents, provided Purchaser has provided Seller with prior notice of
the identity of such designee or agent.

3.4 Purchaser shall keep confidential any information regarding Seller and the
Mortgage Loans that has been delivered into Purchaser's possession and that is
not otherwise publicly available; provided, however, that such information shall
not be kept confidential (and the right to require confidentiality under any
confidentiality agreement is hereby waived) to the extent such information is
required to be included in the Free Writing Prospectus, the Memorandum or the
Prospectus Supplement or Purchaser is required by law or court order to disclose
such information. If Purchaser is required to disclose in the Free Writing
Prospectus, the Memorandum or the Prospectus Supplement confidential information
regarding Seller as described in the preceding sentence, Purchaser shall provide
to Seller a copy of the proposed form of such disclosure prior to making such
disclosure and Seller shall promptly, and in any

                                       11
<PAGE>

event within two Business Days, notify Purchaser of any inaccuracies therein, in
which case Purchaser shall modify such form in a manner that corrects such
inaccuracies. If Purchaser is required by law or court order to disclose
confidential information regarding Seller as described in the second preceding
sentence, Purchaser shall notify Seller and cooperate in Seller's efforts to
obtain a protective order or other reasonable assurance that confidential
treatment will be accorded such information and, if in the absence of a
protective order or such assurance, Purchaser is compelled as a matter of law to
disclose such information, Purchaser shall, prior to making such disclosure,
advise and consult with Seller and its counsel as to such disclosure and the
nature and wording of such disclosure and Purchaser shall use reasonable efforts
to obtain confidential treatment therefor. Notwithstanding the foregoing, if
reasonably advised by counsel that Purchaser is required by a regulatory agency
or court order to make such disclosure immediately, then Purchaser shall be
permitted to make such disclosure without prior review by Seller.

4. REPRESENTATIONS, WARRANTIES AND COVENANTS OF SELLER AND PURCHASER.

4.1 To induce Purchaser to enter into this Agreement, Seller hereby makes for
the benefit of Purchaser and its assigns with respect to each Mortgage Loan as
of the date hereof (or as of such other date specifically set forth in the
particular representation and warranty) each of the representations and
warranties set forth on Exhibit 2 hereto, except as otherwise set forth on
Schedule A attached hereto, and hereby further represents, warrants and
covenants to Purchaser as of the date hereof that:

      4.1.1 Seller is duly organized and is validly existing as a corporation in
good standing under the laws of the State of New York. Seller has the requisite
power and authority and legal right to own the Mortgage Loans and to transfer
and convey the Mortgage Loans to Purchaser and has the requisite power and
authority to execute and deliver, engage in the transactions contemplated by,
and perform and observe the terms and conditions of, this Agreement.

      4.1.2 This Agreement has been duly and validly authorized, executed and
delivered by Seller, and assuming the due authorization, execution and delivery
hereof by Purchaser, this Agreement constitutes the valid, legal and binding
agreement of Seller, enforceable in accordance with its terms, except as such
enforcement may be limited by (A) laws relating to bankruptcy, insolvency,
reorganization, receivership or moratorium, (B) other laws relating to or
affecting the rights of creditors generally, (C) general equity principles
(regardless of whether such enforcement is considered in a proceeding in equity
or at law) or (D) public policy considerations underlying the securities laws,
to the extent that such public policy considerations limit the enforceability of
the provisions of this Agreement that purport to provide indemnification from
liabilities under applicable securities laws.

      4.1.3 No consent, approval, authorization or order of, registration or
filing with, or notice to, any governmental authority or court is required,
under federal or state law, for the execution, delivery and performance of or
compliance by Seller with this Agreement, or the consummation by Seller of any
transaction contemplated hereby, other than (A) such qualifications as may be
required under state securities or blue sky laws, (B) the filing or

                                       12
<PAGE>

recording of financing statements, instruments of assignment and other similar
documents necessary in connection with Seller's sale of the Mortgage Loans to
Purchaser, (C) such consents, approvals, authorizations, qualifications,
registrations, filings or notices as have been obtained and (D) where the lack
of such consent, approval, authorization, qualification, registration, filing or
notice would not have a material adverse effect on the performance by Seller
under this Agreement.

      4.1.4 Neither the transfer of the Mortgage Loans to Purchaser, nor the
execution, delivery or performance of this Agreement by Seller, conflicts or
will conflict with, results or will result in a breach of, or constitutes or
will constitute a default under (A) any term or provision of Seller's articles
of organization or by-laws, (B) any term or provision of any material agreement,
contract, instrument or indenture to which Seller is a party or by which it or
any of its assets is bound or results in the creation or imposition of any lien,
charge or encumbrance upon any of its property pursuant to the terms of any such
indenture, mortgage, contract or other instrument, other than pursuant to this
Agreement, or (C) after giving effect to the consents or taking of the actions
contemplated in Section 4.1.3 hereof, any law, rule, regulation, order,
judgment, writ, injunction or decree of any court or governmental authority
having jurisdiction over Seller or its assets, except where in any of the
instances contemplated by clauses (B) or (C) above, any conflict, breach or
default, or creation or imposition of any lien, charge or encumbrance, will not
have a material adverse effect on the consummation of the transactions
contemplated hereby by Seller or its ability to perform its obligations and
duties hereunder or result in any material adverse change in the business,
operations, financial condition, properties or assets of Seller, or in any
material impairment of the right or ability of Seller to carry on its business
substantially as now conducted.

      4.1.5 There are no actions or proceedings against, or investigations of,
Seller pending or, to Seller's knowledge, threatened in writing against Seller
before any court, administrative agency or other tribunal, the outcome of which
could reasonably be expected to materially and adversely affect the transfer of
the Mortgage Loans to Purchaser or the execution or delivery by, or
enforceability against, Seller of this Agreement or have an effect on the
financial condition of Seller that would materially and adversely affect the
ability of Seller to perform its obligations under this Agreement.

      4.1.6 On the Closing Date, the sale of the Mortgage Loans pursuant to this
Agreement will effect a transfer by Seller of all of its right, title and
interest in and to the Mortgage Loans to Purchaser.

      4.1.7 To Seller's knowledge, Seller's Information (as defined in that
certain indemnification agreement, dated April 5, 2007, between Seller,
Purchaser, the Underwriters and the Initial Purchasers (the "Indemnification
Agreement")) does not contain any untrue statement of a material fact or omit to
state a material fact necessary to make the statements therein, in the light of
the circumstances under which they were made, not misleading. Notwithstanding
anything contained herein to the contrary, this subparagraph 4.1.7 shall run
exclusively to the benefit of Purchaser and no other party.

                                       13
<PAGE>

      4.1.8 The Seller has complied with the disclosure requirements of
Regulation AB that arise from its role as "originator" and "sponsor" in
connection with the issuance of the Public Certificates.

      4.1.9 For so long as the Trust is subject to the reporting requirements of
the Exchange Act, the Seller shall provide the Purchaser (or with respect to any
Serviced Companion Mortgage Loan that is deposited into an Other Securitization,
the depositor in such Other Securitization) and the Paying Agent with any
Additional Form 10-D Disclosure and any Additional Form 10-K Disclosure set
forth next to the Seller's name on Schedule XV and Schedule XVI of the Pooling
and Servicing Agreement within the time periods and in accordance with the
provisions set forth in the Pooling and Servicing Agreement.

To induce Purchaser to enter into this Agreement, Seller hereby covenants that
the foregoing representations and warranties and those set forth on Exhibit 2
hereto, subject to the exceptions set forth in Schedule A to Exhibit 2, will be
true and correct in all material respects on and as of the Closing Date with the
same effect as if made on the Closing Date.

Each of the representations, warranties and covenants made by Seller pursuant to
this Section 4.1 shall survive the sale of the Mortgage Loans and shall continue
in full force and effect notwithstanding any restrictive or qualified
endorsement on the Mortgage Notes.

4.2 To induce Seller to enter into this Agreement, Purchaser hereby represents
and warrants to Seller as of the date hereof:

      4.2.1 Purchaser is a corporation duly organized, validly existing, and in
good standing under the laws of the State of Delaware with full power and
authority to carry on its business as presently conducted by it.

      4.2.2 Purchaser has full power and authority to acquire the Mortgage
Loans, to execute and deliver this Agreement and to enter into and consummate
all transactions contemplated by this Agreement. Purchaser has duly and validly
authorized the execution, delivery and performance of this Agreement and has
duly and validly executed and delivered this Agreement. This Agreement, assuming
due authorization, execution and delivery by Seller, constitutes the valid and
binding obligation of Purchaser, enforceable against it in accordance with its
terms, except as such enforceability may be limited by bankruptcy, insolvency,
reorganization, moratorium and other similar laws affecting the enforcement of
creditors' rights generally and by general principles of equity, regardless of
whether such enforcement is considered in a proceeding in equity or at law.

      4.2.3 No consent, approval, authorization or order of, registration or
filing with, or notice to, any governmental authority or court is required,
under federal or state law, for the execution, delivery and performance of or
compliance by Purchaser with this Agreement, or the consummation by Purchaser of
any transaction contemplated hereby that has not been obtained or made by
Purchaser.

      4.2.4 Neither the purchase of the Mortgage Loans nor the execution,
delivery and performance of this Agreement by Purchaser will violate Purchaser's
certificate of incorporation

                                       14
<PAGE>

or by-laws or constitute a default (or an event that, with notice or lapse of
time or both, would constitute a default) under, or result in a breach of, any
material agreement, contract, instrument or indenture to which Purchaser is a
party or that may be applicable to Purchaser or its assets.

      4.2.5 Purchaser's execution and delivery of this Agreement and its
performance and compliance with the terms of this Agreement will not constitute
a violation of any law, rule, writ, injunction, order or decree of any court, or
order or regulation of any federal, state or municipal government agency having
jurisdiction over Purchaser or its assets, which violation could materially and
adversely affect the condition (financial or otherwise) or the operation of
Purchaser or its assets or could materially and adversely affect its ability to
perform its obligations and duties hereunder.

      4.2.6 There are no actions or proceedings against, or investigations of,
Purchaser pending or, to Purchaser's knowledge, threatened against Purchaser
before any court, administrative agency or other tribunal, the outcome of which
could reasonably be expected to adversely affect the transfer of the Mortgage
Loans, the issuance of the Certificates, the execution, delivery or
enforceability of this Agreement or have an effect on the financial condition of
Purchaser that would materially and adversely affect the ability of Purchaser to
perform its obligation under this Agreement.

      4.2.7 Purchaser has not dealt with any broker, investment banker, agent or
other person, other than Seller, the Underwriters, the Initial Purchasers and
their respective affiliates, that may be entitled to any commission or
compensation in connection with the sale of the Mortgage Loans or consummation
of any of the transactions contemplated hereby.

To induce Seller to enter into this Agreement, Purchaser hereby covenants that
the foregoing representations and warranties will be true and correct in all
material respects on and as of the Closing Date with the same effect as if made
on the Closing Date.

Each of the representations and warranties made by Purchaser pursuant to this
Section 4.2 shall survive the purchase of the Mortgage Loans.

5. REMEDIES UPON BREACH OF REPRESENTATIONS AND WARRANTIES MADE BY SELLER.

5.1 It is hereby acknowledged that Seller shall make for the benefit of the
Trustee on behalf of the holders of the Certificates, whether directly or by way
of Purchaser's assignment of its rights hereunder to the Trustee, the
representations and warranties set forth on Exhibit 2 hereto (each as of the
date hereof unless otherwise specified).

5.2 It is hereby further acknowledged that if any document required to be
delivered to the Trustee pursuant to Section 2 hereof is not delivered as and
when required, not properly executed or is defective on its face, or if there is
a breach of any of the representations and warranties required to be made by
Seller regarding the characteristics of the Mortgage Loans and/or the related
Mortgaged Properties as set forth in Exhibit 2 hereto, and in either case the
party discovering such breach or defect determines that either (i) the defect or
breach materially and adversely affects the interests of the holders of the
Certificates in the related Mortgage Loan or

                                       15
<PAGE>

(ii) both (A) the defect or breach materially and adversely affects the value of
the Mortgage Loan and (B) the Mortgage Loan is a Specially Serviced Mortgage
Loan or Rehabilitated Mortgage Loan (any such defect described in the preceding
clause (i) or (ii), a "Material Document Defect" and any such breach described
in the preceding clause (i) or (ii), a "Material Breach"), the party determining
that such Material Document Defect or Material Breach exists shall promptly
notify, in writing, the other parties; provided that any breach of the
representation and warranty contained in paragraph (41) of such Exhibit 2 shall
constitute a Material Breach only if such prepayment premium or yield
maintenance charge is not deemed "customary" for commercial mortgage loans as
evidenced by (i) an opinion of tax counsel to such effect or (ii) a
determination by the Internal Revenue Service that such provision is not
customary. Promptly (but in any event within three Business Days) upon
determining (or becoming aware of another party's determination) that any such
Material Document Defect or Material Breach exists (which determination shall,
absent evidence to the contrary, be presumed to be no earlier than three
Business Days prior to delivery of the notice to Seller referred to below), the
Master Servicer shall, and the Special Servicer may, request that Seller, not
later than 90 days from Seller's receipt of the notice of such Material Document
Defect or Material Breach, cure such Material Document Defect or Material
Breach, as the case may be, in all material respects; provided, however, that if
such Material Document Defect or Material Breach, as the case may be, cannot be
corrected or cured in all material respects within such 90 day period, and such
Material Document Defect or Material Breach would not cause the Mortgage Loan to
be other than a "qualified mortgage" (as defined in the Code) but Seller is
diligently attempting to effect such correction or cure, as certified by Seller
in an Officer's Certificate delivered to the Trustee, then the cure period will
be extended for an additional 90 days unless, solely in the case of a Material
Document Defect, (x) the Mortgage Loan is then a Specially Serviced Mortgage
Loan and a Servicing Transfer Event has occurred as a result of a monetary
default or as described in clause (ii) or clause (v) of the definition of
"Servicing Transfer Event" in the Pooling and Servicing Agreement and (y) the
Material Document Defect was identified in a certification delivered to Seller
by the Trustee pursuant to Section 2.2 of the Pooling and Servicing Agreement
not less than 90 days prior to the delivery of the notice of such Material
Document Defect. The parties acknowledge that neither delivery of a
certification or schedule of exceptions to Seller pursuant to Section 2.2 of the
Pooling and Servicing Agreement or otherwise nor possession of such
certification or schedule by Seller shall, in and of itself, constitute delivery
of notice of any Material Document Defect or knowledge or awareness by Seller,
the Master Servicer or the Special Servicer of any Material Document Defect
listed therein.

5.3 Seller hereby covenants and agrees that, if any such Material Document
Defect or Material Breach cannot be corrected or cured or Seller otherwise fails
to correct or cure within the above cure periods, Seller shall, on or before the
termination of such cure periods, either (i) repurchase the affected Mortgage
Loan or REO Mortgage Loan (or interest therein) from Purchaser or its assignee
at the Purchase Price as defined in the Pooling and Servicing Agreement, or (ii)
if within the three-month period commencing on the Closing Date (or within the
two-year period commencing on the Closing Date if the related Mortgage Loan is a
"defective obligation" within the meaning of Section 860G(a)(4)(B)(ii) of the
Code and Treasury Regulation Section 1.860G-2(f)), at its option replace,
without recourse, any Mortgage Loan or REO Mortgage Loan to which such defect
relates with a Qualifying Substitute Mortgage Loan. If such Material Document
Defect or Material Breach would cause the Mortgage Loan to be

                                       16
<PAGE>

other than a "qualified mortgage" (as defined in the Code), then notwithstanding
the previous sentence or the previous paragraph, repurchase must occur within 85
days from the date Seller was notified of the defect. Seller agrees that any
substitution shall be completed in accordance with the terms and conditions of
the Pooling and Servicing Agreement.

5.4 If (x) a Mortgage Loan is to be repurchased or replaced as contemplated
above (a "Defective Mortgage Loan"), (y) such Defective Mortgage Loan is
cross-collateralized and cross-defaulted with one or more other Mortgage Loans
("Crossed Mortgage Loans") and (z) the applicable document defect or breach does
not constitute a Material Document Defect or Material Breach, as the case may
be, as to such Crossed Mortgage Loans (without regard to this paragraph), then
the applicable document defect or breach (as the case may be) shall be deemed to
constitute a Material Document Defect or Material Breach, as the case may be, as
to each such Crossed Mortgage Loan for purposes of the above provisions, and
Seller shall be obligated to repurchase or replace each such Crossed Mortgage
Loan in accordance with the provisions above, unless, in the case of such breach
or document defect, (A) Seller provides a Nondisqualification Opinion to the
Trustee at the expense of Seller if, in the reasonable business judgment of the
Trustee, it would be usual and customary in accordance with industry practice to
obtain a Nondisqualification Opinion and (B) both of the following conditions
would be satisfied if Seller were to repurchase or replace only those Mortgage
Loans as to which a Material Breach or Material Document Defect had occurred
without regard to this paragraph (the "Affected Loan(s)"): (i) the debt service
coverage ratio for all those Crossed Mortgage Loans (excluding the Affected
Loan(s)) for the four calendar quarters immediately preceding the repurchase or
replacement is not less than the lesser of (A) 0.10x below the debt service
coverage ratio for all such Crossed Mortgage Loans (including the Affected
Loans(s)) set forth in Appendix II to the Final Prospectus Supplement and (B)
the debt service coverage ratio for all such Crossed Mortgage Loans (including
the Affected Loan(s)) for the four preceding calendar quarters preceding the
repurchase or replacement, and (ii) the loan-to-value ratio for all such Crossed
Mortgage Loans (excluding the Affected Loan(s)) is not greater than the greater
of (A) the loan-to-value ratio, expressed as a whole number (taken to one
decimal place), for all such Crossed Mortgage Loans (including the Affected
Loan(s)) set forth in Appendix II to the Final Prospectus Supplement plus 10%
and (B) the loan-to-value ratio for all such Crossed Mortgage Loans (including
the Affected Loans(s)), at the time of repurchase or replacement. The
determination of the Master Servicer as to whether the conditions set forth
above have been satisfied shall be conclusive and binding in the absence of
manifest error. The Master Servicer will be entitled to cause to be delivered,
or direct Seller to (in which case Seller shall) cause to be delivered to the
Master Servicer, an Appraisal of any or all of the related Mortgaged Properties
for purposes of determining whether the condition set forth in clause (ii) above
has been satisfied, in each case at the expense of Seller if the scope and cost
of the Appraisal is approved by Seller (such approval not to be unreasonably
withheld).

5.5 With respect to any Defective Mortgage Loan, to the extent that Seller is
required to repurchase or substitute for such Defective Mortgage Loan (each, a
"Repurchased Loan") in the manner prescribed above while the Trustee (as
assignee of Purchaser) continues to hold any Crossed Mortgage Loan, Seller and
Purchaser hereby agree to forebear from enforcing any remedies against the
other's Primary Collateral but may exercise remedies against the Primary
Collateral securing their respective Mortgage Loans, including with respect to
the Trustee, the Primary Collateral securing the Mortgage Loans still held by
the Trustee, so long as such

                                       17
<PAGE>

exercise does not impair the ability of the other party to exercise its remedies
against its Primary Collateral. If the exercise of remedies by one party would
impair the ability of the other party to exercise its remedies with respect to
the Primary Collateral securing the Mortgage Loan or Mortgage Loans held by such
party, then both parties shall forbear from exercising such remedies until the
loan documents evidencing and securing the relevant Mortgage Loans can be
modified in a manner that complies with the Pooling and Servicing Agreement to
remove the threat of impairment as a result of the exercise of remedies. Any
reserve or other cash collateral or letters of credit securing the Crossed
Mortgage Loans shall be allocated between such Mortgage Loans in accordance with
the Mortgage Loan documents, or otherwise on a pro rata basis based upon their
outstanding Principal Balances. All other terms of the Mortgage Loans shall
remain in full force and effect, without any modification thereof. The
Mortgagors set forth on Schedule B hereto are intended third-party beneficiaries
of the provisions set forth in this paragraph and the preceding paragraph. The
provisions of this paragraph and the preceding paragraph may not be modified
with respect to any Mortgage Loan without the related Mortgagor's consent.

5.6 Any of the following document defects shall be conclusively presumed
materially and adversely to affect the interests of Certificateholders in a
Mortgage Loan and be a Material Document Defect: (a) the absence from the
Mortgage File of the original signed Mortgage Note, unless the Mortgage File
contains a signed lost note affidavit and indemnity that appears to be regular
on its face; (b) the absence from the Mortgage File of the original signed
Mortgage that appears to be regular on its face, unless there is included in the
Mortgage File a certified copy of the Mortgage by the local authority with which
the Mortgage was recorded; or (c) the absence from the Mortgage File of the item
specified in paragraph 2.2.8. If any of the foregoing Material Document Defects
is discovered by the Custodian (or the Trustee if there is no Custodian), the
Trustee (or as set forth in Section 2.3(a) of the Pooling and Servicing
Agreement, the Master Servicer) will take the steps described elsewhere in this
Section, including the giving of notices to the Rating Agencies and the parties
hereto and making demand upon Seller for the cure of the Material Document
Defect or repurchase or replacement of the related Mortgage Loan.

5.7 If Seller disputes that a Material Document Defect or Material Breach exists
with respect to a Mortgage Loan or otherwise refuses (i) to effect a correction
or cure of such Material Document Defect or Material Breach, (ii) to repurchase
the affected Mortgage Loan from Purchaser or its assignee or (iii) to replace
such Mortgage Loan with a Qualifying Substitute Mortgage Loan, each in
accordance with this Agreement, then provided that (x) the period of time
provided for Seller to correct, repurchase or cure has expired and (y) the
Mortgage Loan is then in default and is then a Specially Serviced Mortgage Loan,
the Special Servicer may, subject to the Servicing Standard, modify, work-out or
foreclose, sell or otherwise liquidate (or permit the liquidation of) the
Mortgage Loan pursuant to Sections 9.5, 9.12, 9.15 and 9.36, as applicable, of
the Pooling and Servicing Agreement, while pursuing the repurchase claim. Seller
acknowledges and agrees that any modification of the Mortgage Loan pursuant to a
work-out shall not constitute a defense to any repurchase claim nor shall such
modification and work-out change the Purchase Price due from Seller for any
repurchase claim. In the event of any such modification and work-out, Seller
shall be obligated to repurchase the Mortgage Loan as modified and the Purchase
Price shall include any Work-Out Fee paid to the Special Servicer up to the date
of repurchase plus the present value (calculated at a discount rate equal to the
applicable Mortgage Rate) of the Work-Out Fee that would have been payable to
the Special

                                       18
<PAGE>

Servicer in respect of such Mortgage Loan if the Mortgage Loan performed in
accordance with its terms to its Maturity Date, provided that no amount shall be
paid by Seller in respect of any Work-Out Fee if a Liquidation Fee already
comprises a portion of the Purchase Price.

5.8 Seller shall have the right to purchase certain of the Mortgage Loans or REO
Properties, as applicable, in accordance with Section 9.36 of the Pooling and
Servicing Agreement.

5.9 The fact that a Material Document Defect or Material Breach is not
discovered until after foreclosure (but in all instances prior to the sale of
the related REO Property or Mortgage Loan) shall not prejudice any claim against
Seller for repurchase of the REO Mortgage Loan or REO Property. In such an
event, the Master Servicer shall notify Seller of the discovery of the Material
Document Defect or Material Breach and Seller shall have 90 days to correct or
cure such Material Document Defect or Material Breach or purchase the REO
Property (or interest therein) at the Purchase Price. After a final liquidation
of the Mortgage Loan or REO Mortgage Loan, if a court of competent jurisdiction
issues a final order after the expiration of any applicable appeal period that
Seller is or was obligated to repurchase the related Mortgage Loan or REO
Mortgage Loan (or interest therein) (a "Final Judicial Determination") or Seller
otherwise accepts liability, then, but in no event later than the Termination of
the Trust pursuant to Section 9.30 of the Pooling and Servicing Agreement,
Seller will be obligated to pay to the Trust the difference between any
Liquidation Proceeds received upon such liquidation in accordance with the
Pooling and Servicing Agreement (including those arising from any sale to
Seller) and the Purchase Price.

5.10 Notwithstanding anything to the contrary contained herein, in connection
with any sale or other liquidation of a Mortgage Loan or REO Property as
described in this Section 5, the Special Servicer shall not receive a
Liquidation Fee from Seller (but may collect such Liquidation Fee from the
related Liquidation Proceeds as otherwise provided herein); provided, however,
that in the event Seller is obligated to repurchase the Mortgage Loan or REO
Mortgaged Property (or interest therein) after a final liquidation of such
Mortgage Loan or REO Property pursuant to the immediately preceding paragraph,
an amount equal to any Liquidation Fee (calculated on the basis of Liquidation
Proceeds) payable to the Special Servicer shall be included in the definition of
"Purchase Price" in respect of such Mortgage Loan or REO Mortgaged Property.
Except as expressly set forth above, no Liquidation Fee shall be payable in
connection with a repurchase of a Mortgage Loan by Seller.

5.11 The obligations of Seller set forth in this Section 5 to cure a Material
Document Defect or a Material Breach or repurchase or replace a defective
Mortgage Loan constitute the sole remedies of Purchaser or its assignees with
respect to a Material Document Defect or Material Breach in respect of an
outstanding Mortgage Loan; provided, that this limitation shall not in any way
limit Purchaser's rights or remedies upon breach of any other representation or
warranty or covenant by Seller set forth in this Agreement (other than those set
forth in Exhibit 2).

5.12 Notwithstanding the foregoing, in the event that there is a breach of the
representations and warranties set forth in paragraph 39 in Exhibit 2 hereto,
and as a result the payments, by a Mortgagor, of reasonable costs and expenses
associated with the defeasance or assumption of a Mortgage Loan are insufficient
causing the Trust to incur an Additional Trust Expense in an amount equal to
such reasonable costs and expenses not paid by such Mortgagor, Seller hereby

                                       19
<PAGE>

covenants and agrees to reimburse the Trust within 90 days of the receipt of
notice of such breach in an amount sufficient to avoid such Additional Trust
Expense. The parties hereto acknowledge that such reimbursement shall be
Seller's sole obligation with respect to the breach discussed in the previous
sentence.

5.13 The Pooling and Servicing Agreement shall provide that the Trustee (or the
Master Servicer or the Special Servicer on its behalf) shall give written notice
promptly (but in any event within three Business Days) to Seller of its
determination that any Material Document Defect or Material Breach exists (which
determination shall, absent evidence to the contrary, be presumed to be no
earlier than three Business Days prior to delivery of the notice) and prompt
written notice to Seller in the event that any Mortgage Loan becomes a Specially
Serviced Mortgage Loan (as defined in the Pooling and Servicing Agreement).

5.14 If Seller repurchases any Mortgage Loan pursuant to this Section 5,
Purchaser or its assignee, following receipt by the Trustee of the Purchase
Price therefor, promptly shall deliver or cause to be delivered to Seller all
Mortgage Loan documents with respect to such Mortgage Loan, and each document
that constitutes a part of the Mortgage File that was endorsed or assigned to
the Trustee shall be endorsed and assigned to Seller in the same manner such
that Seller shall be vested with legal and beneficial title to such Mortgage
Loan, in each case without recourse, including any property acquired in respect
of such Mortgage Loan or proceeds of any insurance policies with respect
thereto.

6. CLOSING.

6.1 The closing of the sale of the Mortgage Loans shall be held at the offices
of Latham & Watkins LLP, 885 Third Avenue, New York, NY 10022 at 9:00 a.m., New
York time, on the Closing Date. The closing shall be subject to each of the
following conditions:

      6.1.1 All of the representations and warranties of Seller and Purchaser
specified in Section 4 hereof (including, without limitation, the
representations and warranties set forth on Exhibit 2 hereto) shall be true and
correct as of the Closing Date (to the extent of the standard, if any, set forth
in each representation and warranty).

      6.1.2 All Closing Documents specified in Section 7 hereof, in such forms
as are agreed upon and reasonably acceptable to Seller or Purchaser, as
applicable, shall be duly executed and delivered by all signatories as required
pursuant to the respective terms thereof.

      6.1.3 Seller shall have delivered and released to Purchaser or its
designee all documents required to be delivered to Purchaser as of the Closing
Date pursuant to Section 2 hereof.

      6.1.4 The result of the examination and audit performed by Purchaser and
its affiliates pursuant to Section 3 hereof shall be satisfactory to Purchaser
and its affiliates in their sole determination and the parties shall have agreed
to the form and contents of Seller's Information to be disclosed in the Free
Writing Prospectus, the Memorandum and the Prospectus Supplement.

                                       20
<PAGE>

      6.1.5 All other terms and conditions of this Agreement required to be
complied with on or before the Closing Date shall have been complied with, and
Seller and Purchaser shall have the ability to comply with all terms and
conditions and perform all duties and obligations required to be complied with
or performed after the Closing Date.

      6.1.6 Seller shall have paid all fees and expenses payable by it to
Purchaser pursuant to Section 8 hereof.

      6.1.7 The Certificates to be so rated shall have been assigned ratings by
each Rating Agency no lower than the ratings specified for each such Class in
the Memorandum and the Prospectus Supplement.

      6.1.8 No Underwriter shall have terminated the Underwriting Agreement and
none of the Initial Purchasers shall have terminated the Certificate Purchase
Agreement, and neither the Underwriters nor the Initial Purchasers shall have
suspended, delayed or otherwise cancelled the Closing Date.

      6.1.9 Seller shall have received the purchase price for the Mortgage Loans
pursuant to Section 1 hereof.

6.2 Each party agrees to use its best efforts to perform its respective
obligations hereunder in a manner that will enable Purchaser to purchase the
Mortgage Loans on the Closing Date.

7. CLOSING DOCUMENTS. The Closing Documents shall consist of the following:

7.1 This Agreement duly executed by Purchaser and Seller.

7.2 A certificate of Seller, executed by a duly authorized officer of Seller and
dated the Closing Date, and upon which Purchaser and its successors and assigns
may rely, to the effect that: (i) the representations and warranties of Seller
in this Agreement are true and correct in all material respects on and as of the
Closing Date with the same force and effect as if made on the Closing Date,
provided that any representations and warranties made as of a specified date
shall be true and correct as of such specified date; and (ii) Seller has
complied with all agreements and satisfied all conditions on its part to be
performed or satisfied on or prior to the Closing Date.

7.3 True, complete and correct copies of Seller's articles of organization and
by-laws.

7.4 A certificate of existence for Seller from the Secretary of State of New
York dated not earlier than 30 days prior to the Closing Date.

7.5 A certificate of the Secretary or Assistant Secretary of Seller, dated the
Closing Date, and upon which Purchaser may rely, to the effect that each
individual who, as an officer or representative of Seller, signed this Agreement
or any other document or certificate delivered on or before the Closing Date in
connection with the transactions contemplated herein, was at the respective
times of such signing and delivery, and is as of the Closing Date, duly elected
or appointed, qualified and acting as such officer or representative, and the
signatures of such persons appearing on such documents and certificates are
their genuine signatures.

                                       21
<PAGE>

7.6 An opinion of counsel (which, other than as to the opinion described in
paragraph 7.6.6 below, may be in-house counsel) to Seller, dated the Closing
Date, substantially to the effect of the following (with such changes and
modifications as Purchaser may approve and subject to such counsel's reasonable
qualifications):

      7.6.1 Seller is validly existing under New York law and has full corporate
power and authority to enter into and perform its obligations under this
Agreement.

      7.6.2 This Agreement has been duly authorized, executed and delivered by
Seller.

      7.6.3 No consent, approval, authorization or order of any federal court or
governmental agency or body is required for the consummation by Seller of the
transactions contemplated by the terms of this Agreement except any approvals as
have been obtained.

      7.6.4 Neither the execution, delivery or performance of this Agreement by
Seller, nor the consummation by Seller of any of the transactions contemplated
by the terms of this Agreement (A) conflicts with or results in a breach or
violation of, or constitutes a default under, the organizational documents of
Seller, (B) to the knowledge of such counsel, constitutes a default under any
term or provision of any material agreement, contract, instrument or indenture,
to which Seller is a party or by which it or any of its assets is bound or
results in the creation or imposition of any lien, charge or encumbrance upon
any of its property pursuant to the terms of any such indenture, mortgage,
contract or other instrument, other than pursuant to this Agreement, or (C)
conflicts with or results in a breach or violation of any law, rule, regulation,
order, judgment, writ, injunction or decree of any court or governmental
authority having jurisdiction over Seller or its assets, except where in any of
the instances contemplated by clauses (B) or (C) above, any conflict, breach or
default, or creation or imposition of any lien, charge or encumbrance, will not
have a material adverse effect on the consummation of the transactions
contemplated hereby by Seller or materially and adversely affect its ability to
perform its obligations and duties hereunder or result in any material adverse
change in the business, operations, financial condition, properties or assets of
Seller, or in any material impairment of the right or ability of Seller to carry
on its business substantially as now conducted.

      7.6.5 To his or her knowledge, there are no legal or governmental actions,
investigations or proceedings pending to which Seller is a party, or threatened
against Seller, (a) asserting the invalidity of this Agreement or (b) which
materially and adversely affect the performance by Seller of its obligations
under, or the validity or enforceability of, this Agreement.

      7.6.6 This Agreement is a valid, legal and binding agreement of Seller,
enforceable against Seller in accordance with its terms, except as such
enforcement may be limited by (1) laws relating to bankruptcy, insolvency,
reorganization, receivership or moratorium, (2) other laws relating to or
affecting the rights of creditors generally, (3) general equity principles
(regardless of whether such enforcement is considered in a proceeding in equity
or at law) or (4) public policy considerations underlying the securities laws,
to the extent that such public policy considerations limit the enforceability of
the provisions of this Agreement that purport to provide indemnification from
liabilities under applicable securities laws.

                                       22
<PAGE>

Such opinion may express its reliance as to factual matters on, among other
things specified in such opinion, the representations and warranties made by,
and on certificates or other documents furnished by officers of, the parties to
this Agreement.

In rendering the opinions expressed above, such counsel may limit such opinions
to matters governed by the federal laws of the United States and the corporate
laws of the State of Delaware and the State of New York, as applicable.

7.7 Such other opinions of counsel as any Rating Agency may request in
connection with the sale of the Mortgage Loans by Seller to Purchaser or
Seller's execution and delivery of, or performance under, this Agreement.

7.8 A "10b-5" opinion of counsel addressed to the Purchaser and the
Underwriters, in form reasonably acceptable to Purchaser and the Underwriters,
as to the disclosure provided by Seller to Purchaser in connection with the
Certificates.

7.9 An opinion of counsel addressed to Purchaser and the Underwriters, in form
reasonably acceptable to Purchaser and the Underwriters, that such disclosure
complies as to form with the applicable requirements of Regulation AB with
respect to Seller's role as Sponsor (as defined in Regulation AB) in connection
with the Certificates.

7.10 A letter from Deloitte & Touche, certified public accountants, dated the
date hereof, to the effect that they have performed certain specified procedures
as a result of which they determined that certain information of an accounting,
financial or statistical nature set forth in the Free Writing Prospectus, the
Memorandum and the Prospectus Supplement agrees with the records of Seller.

7.11 Such further certificates, opinions and documents as Purchaser may
reasonably request.

7.12 An officer's certificate of Purchaser, dated as of the Closing Date, with
the resolutions of Purchaser authorizing the transactions described herein
attached thereto, together with certified copies of the charter, by-laws and
certificate of good standing of Purchaser dated not earlier than 30 days prior
to the Closing Date.

7.13 Such other certificates of Purchaser's officers or others and such other
documents to evidence fulfillment of the conditions set forth in this Agreement
as Seller or its counsel may reasonably request.

7.14 An executed Bill of Sale in the form attached hereto as Exhibit 3.

8. COSTS. Seller shall pay Purchaser the costs and expenses as agreed upon by
Seller and Purchaser in a separate Letter of Understanding entered into in
connection with this Agreement and the issuance of the Certificates.

9. NOTICES. All communications provided for or permitted hereunder shall be in
writing and shall be deemed to have been duly given if (a) personally delivered,
(b) mailed by registered

                                       23
<PAGE>

or certified mail, postage prepaid and received by the addressee, (c) sent by
express courier delivery service and received by the addressee, or (d)
transmitted by telex or facsimile transmission (or any other type of electronic
transmission agreed upon by the parties) and confirmed by a writing delivered by
any of the means described in (a), (b) or (c), if (i) to Purchaser, addressed to
Bear Stearns Commercial Mortgage Securities Inc., 383 Madison Avenue, New York,
New York 10179, Attention: J. Christopher Hoeffel, Senior Managing Director,
Commercial Mortgage Department (with a copy to the attention of Joseph T.
Jurkowski, Jr., Managing Director, Legal Department) (or such other address as
may hereafter be furnished in writing by Purchaser), or if (ii) to Seller,
addressed to Seller at Bear Stearns Commercial Mortgage, Inc., addressed to Bear
Stearns Commercial Mortgage, Inc., 383 Madison Avenue, New York, New York 10179,
Attention: J. Christopher Hoeffel, Senior Managing Director, Commercial Mortgage
Department (with a copy to the attention of Joseph T. Jurkowski, Jr., Managing
Director, Legal Department) (or to such other address as may hereafter be
furnished in writing by Seller).

10. SEVERABILITY OF PROVISIONS. Any part, provision, representation, warranty or
covenant of this Agreement that is prohibited or that is held to be void or
unenforceable shall be ineffective to the extent of such prohibition or
unenforceability without invalidating the remaining provisions hereof. Any part,
provision, representation, warranty or covenant of this Agreement that is
prohibited or unenforceable or is held to be void or unenforceable in any
jurisdiction shall, as to such jurisdiction, be ineffective to the extent of
such prohibition or unenforceability without invalidating the remaining
provisions hereof, and any such prohibition or unenforceability in any
jurisdiction shall not invalidate or render unenforceable such provision in any
other jurisdiction. To the extent permitted by applicable law, the parties
hereto waive any provision of law that prohibits or renders void or
unenforceable any provision hereof.

11. FURTHER ASSURANCES. Seller and Purchaser each agree to execute and deliver
such instruments and take such actions as the other may, from time to time,
reasonably request in order to effectuate the purpose and to carry out the terms
of this Agreement and the Pooling and Servicing Agreement.

12. SURVIVAL. Each party hereto agrees that the representations, warranties and
agreements made by it herein and in any certificate or other instrument
delivered pursuant hereto shall be deemed to be relied upon by the other party,
notwithstanding any investigation heretofore or hereafter made by the other
party or on its behalf, and that the representations, warranties and agreements
made by such other party herein or in any such certificate or other instrument
shall survive the delivery of and payment for the Mortgage Loans and shall
continue in full force and effect, notwithstanding any restrictive or qualified
endorsement on the Mortgage Notes and notwithstanding subsequent termination of
this Agreement.

13. GOVERNING LAW. THIS AGREEMENT AND THE RIGHTS, DUTIES, OBLIGATIONS AND
RESPONSIBILITIES OF THE PARTIES HERETO SHALL BE GOVERNED BY AND CONSTRUED IN
ACCORDANCE WITH THE INTERNAL LAWS

                                       24
<PAGE>

AND DECISIONS OF THE STATE OF NEW YORK. THE PARTIES HERETO INTEND THAT THE
PROVISIONS OF SECTION 5-1401 OF THE NEW YORK GENERAL OBLIGATIONS LAW SHALL APPLY
TO THIS AGREEMENT.

14. BENEFITS OF MORTGAGE LOAN PURCHASE AGREEMENT. This Agreement shall inure to
the benefit of and shall be binding upon Seller, Purchaser and their respective
successors, legal representatives, and permitted assigns, and nothing expressed
or mentioned in this Agreement is intended or shall be construed to give any
other person any legal or equitable right, remedy or claim under or in respect
of this Agreement, or any provisions herein contained, this Agreement and all
conditions and provisions hereof being intended to be and being for the sole and
exclusive benefit of such persons and for the benefit of no other person except
that the rights and obligations of Purchaser pursuant to Sections 2, 4.1 (other
than clause 4.1.7), 5, 9, 10, 11, 12 and 13 hereof may be assigned to the
Trustee as may be required to effect the purposes of the Pooling and Servicing
Agreement and, upon such assignment, the Trustee shall succeed to the rights and
obligations hereunder of Purchaser. No owner of a Certificate issued pursuant to
the Pooling and Servicing Agreement shall be deemed a successor or permitted
assigns because of such ownership.

15. MISCELLANEOUS. This Agreement may be executed in two or more counterparts,
each of which when so executed and delivered shall be an original, but all of
which together shall constitute one and the same instrument. Neither this
Agreement nor any term hereof may be changed, waived, discharged or terminated
orally, but only by an instrument in writing signed by the party against whom
enforcement of the change, waiver, discharge or termination is sought. The
headings in this Agreement are for purposes of reference only and shall not
limit or otherwise affect the meaning hereof. The rights and obligations of
Seller under this Agreement shall not be assigned by Seller without the prior
written consent of Purchaser, except that any person into which Seller may be
merged or consolidated, or any corporation resulting from any merger, conversion
or consolidation to which Seller is a party, or any person succeeding to the
entire business of Seller shall be the successor to Seller hereunder.

16. ENTIRE AGREEMENT. This Agreement contains the entire agreement and
understanding between the parties hereto with respect to the subject matter
hereof (other than the Letter of Understanding (solely with respect to those
portions of this Agreement that are not assigned to the Trustee), the
Indemnification Agreement and the Pooling and Servicing Agreement), and
supersedes all prior and contemporaneous agreements, understandings, inducements
and conditions, express or implied, oral or written, of any nature whatsoever
with respect to the subject matter hereof. The express terms hereof control and
supersede any course of performance or usage of the trade inconsistent with any
of the terms hereof.

                                       25
<PAGE>

IN WITNESS WHEREOF, Purchaser and Seller have caused this Agreement to be
executed by their respective duly authorized officers as of the date first above
written.

                                    BEAR STEARNS COMMERCIAL MORTGAGE,
                                    INC.

                                    By: /s/ Adam Ansaldi
                                       ------------------------------------
                                       Name: Adam Ansaldi
                                       Title: Managing Director/Principal

                                    BEAR STEARNS COMMERCIAL MORTGAGE
                                    SECURITIES INC.

                                    By: /s/ Adam Ansaldi
                                       ------------------------------------
                                       Name: Adam Ansaldi
                                       Title: Vice President

<PAGE>

                                    EXHIBIT 1

                             MORTGAGE LOAN SCHEDULE

o     Mortgage Loan Seller
o     Loan Number
o     Property Name
o     Street Address
o     City
o     State
o     Date of Maturity
o     Cut-off Date Balance
o     Note Date
o     Original Term to Maturity or ARD
o     Remaining Term
o     Original Amortization
o     Rate
o     ARD Loan (Yes/No)

                                      1-1
<PAGE>

<TABLE>
<CAPTION>
Mortgage      Mortgage
Loan Seller   Loan No.   Property Name                                    Street Address                           City
-----------   --------   ----------------------------------------------   --------------------------------------   ----------------
<S>           <C>        <C>                                              <C>                                      <C>
BSCMI                1   One Dag Hammarskjold Plaza                       885 Second Avenue                        New York
BSCMI                2   One AT&T Center                                  909 Pine Street                          St. Louis
BSCMI                5   Academy Sports HQ                                1800 North Mason Road                    Katy
BSCMI                6   Viad Corporate Center                            1850 North Central Avenue                Phoenix
BSCMI                8   DoubleTree Hotel Jersey City                     455 Washington Boulevard                 Jersey City
BSCMI               10   The Shops at Sherman Plaza                       1600-1620 Sherman Avenue                 Evanston
BSCMI               11   503 Broadway                                     503-511 Broadway                         New York
BSCMI               19   One Pacific Place                                10305 Pacific Street                     Omaha
BSCMI               21   Holiday Inn - Santa Maria                        2100 North Broadway                      Santa Maria
BSCMI               22   Lincoln Village                                  6075-6201 N. Lincoln Avenue              Chicago
BSCMI               29   Las Ventanas                                     2200 E. First Street                     Alamogordo
BSCMI               30   100 Challenger                                   100 Challenger Road                      Ridgefield Park
BSCMI               32   Fox Chapel Shopping Center                       19717 N. Frederick Road                  Germantown
BSCMI               35   Four Points Newark Airport                       901 Spring St.                           Elizabeth
BSCMI               38   HSBC Sioux Falls                                 2200 East Benson Road                    Sioux Falls
BSCMI               39   FedEx - Edwardsville                             9140 Woodend Road                        Edwardsville

<CAPTION>
Mortgage                           Cut-Off Date                Original Term   Remaining Term      Original     Remaining
Loan Seller  State  Maturity Date    Balance      Note Date     to Maturity     to Maturity     Amort. Term   Amort. Term   ARD Loan
-----------  -----  ------------   ------------   ----------   -------------   --------------   -----------   -----------   --------
<S>          <C>    <C>            <C>            <C>          <C>             <C>              <C>           <C>           <C>
BSCMI         NY     02/01/2022    $150,000,000   01/26/2007             180              178            IO            IO     Yes
BSCMI         MO     01/01/2017    $112,695,000   12/21/2006             120              117            IO            IO     Yes
BSCMI         TX     02/01/2017     $68,250,000   01/18/2007             120              118            IO            IO     Yes
BSCMI         AZ     12/01/2016     $65,000,000   11/10/2006             120              116            IO            IO      No
BSCMI         NJ     01/01/2017     $45,000,000   12/18/2006             120              117            IO            IO      No
BSCMI         IL     03/01/2017     $30,275,000   02/12/2007             120              119            IO            IO      No
BSCMI         NY     12/01/2016     $30,000,000   12/01/2006             120              116            IO            IO      No
BSCMI         NE     03/01/2017     $23,400,000   02/06/2007             120              119            IO            IO     Yes
BSCMI         CA     03/01/2017     $23,000,000   02/16/2007             120              119           360           360      No
BSCMI         IL     12/01/2016     $22,035,000   12/01/2006             120              116            IO            IO      No
BSCMI         NM     02/01/2017     $17,574,000   01/25/2007             120              118           360           360      No
BSCMI         NJ     03/01/2018     $17,000,000   02/14/2007             132              131           360           360      No
BSCMI         MD     02/01/2017     $15,500,000   01/26/2007             120              118            IO            IO      No
BSCMI         NJ     02/01/2017     $14,967,632   02/01/2007             120              118           360           358      No
BSCMI         SD     10/01/2014     $13,755,000   02/09/2007              91               90            IO            IO     Yes
BSCMI         KS     12/01/2016     $12,880,000   11/15/2006             120              116            IO            IO     Yes
</TABLE>

                                      1-2
<PAGE>

<TABLE>
<CAPTION>
Mortgage      Mortgage
Loan Seller   Loan No.   Property Name                                    Street Address                           City
-----------   --------   ----------------------------------------------   --------------------------------------   ----------------
<S>           <C>        <C>                                              <C>                                      <C>
BSCMI               42   Inn at Chester Springs                           815 North Pottstown Pike                 Uwchlan Township
BSCMI               46   First and Shaw                                   1029-1041 E. Shaw Avenue                 Fresno
BSCMI               52   Newbury Portfolio - 222 Newbury Street (I)       222 Newbury Street                       Boston
BSCMI               53   Newbury Portfolio - 224 Newbury Street (I)       224 Newbury Street                       Boston
BSCMI               54   Newbury Portfolio - 232 Newbury Street (I)       232 Newbury Street                       Boston
BSCMI               55   Newbury Portfolio - 226 Newbury Street (I)       226 Newbury Street                       Boston
BSCMI               56   Newbury Portfolio - 230 Newbury Street (I)       230 Newbury Street                       Boston
BSCMI               59   Indrio Crossings Shopping Center                 4890 Kings Highway                       Fort Pierce
BSCMI               63   NC Mutual Building                               411 West Chapel Hill Street              Durham
BSCMI               71   HIE Solvang                                      145 Mission Drive                        Solvang
BSCMI               80   Prosperity Market                                5332 Prosperity Church Road              Charlotte
BSCMI               85   Walgreens - St. Petersburg                       3839 4th Street North                    St Petersburg
BSCMI               90   Tractor Supply Portfolio - New Braunfels (III)   840 Loop 337                             New Braunfels

<CAPTION>
Mortgage                           Cut-Off Date                Original Term   Remaining Term      Original     Remaining
Loan Seller  State  Maturity Date    Balance      Note Date     to Maturity     to Maturity     Amort. Term   Amort. Term   ARD Loan
-----------  -----  ------------   ------------   ----------   -------------   --------------   -----------   -----------   --------
<S>          <C>    <C>            <C>            <C>          <C>             <C>              <C>           <C>           <C>
BSCMI         PA     03/01/2017     $12,489,131   03/01/2007             120              119           360           359      No
BSCMI         CA     04/01/2016     $11,100,000   03/27/2006             120              108           360           360      No
BSCMI         MA     02/01/2017      $4,000,000   01/10/2007             120              118            IO            IO      No
BSCMI         MA     02/01/2017      $1,750,000   01/10/2007             120              118            IO            IO      No
BSCMI         MA     02/01/2017      $1,750,000   01/10/2007             120              118            IO            IO      No
BSCMI         MA     02/01/2017      $1,500,000   01/10/2007             120              118            IO            IO      No
BSCMI         MA     02/01/2017      $1,000,000   01/10/2007             120              118            IO            IO      No
BSCMI         FL     01/01/2017      $9,600,000   12/28/2006             120              117           360           360      No
BSCMI         NC     01/01/2012      $9,350,000   12/21/2006              60               57           360           360      No
BSCMI         CA     02/01/2017      $8,250,000   02/01/2007             120              118           360           360      No
BSCMI         NC     03/01/2017      $7,360,000   02/09/2007             120              119           360           360     Yes
BSCMI         FL     02/01/2017      $7,000,000   01/04/2007             120              118            IO            IO      No
BSCMI         TX     12/01/2016      $1,750,000   12/01/2006             120              116            IO            IO     Yes
</TABLE>

                                      1-3

<PAGE>

<TABLE>
<CAPTION>
Mortgage      Mortgage
Loan Seller   Loan No.   Property Name                                    Street Address                           City
-----------   --------   ----------------------------------------------   --------------------------------------   ----------------
<S>           <C>        <C>                                              <C>                                      <C>
BSCMI               91   Tractor Supply Portfolio - Livingston (III)      1820 US Highway 190                      Livingston
BSCMI               92   Tractor Supply Portfolio - La Grange (III)       2005 West State Highway 71               La Grange
BSCMI               93   Tractor Supply Portfolio - Crockett (III)        1408 East Loop 304                       Crockett
BSCMI              113   Walgreens - Philadelphia                         12050 Bustleton Avenue                   Philadelphia
BSCMI              114   1577 Northern Blvd                               1577 Northern Blvd                       Manhasset
BSCMI              118   HOM Furniture - Fargo                            4601 23rd Avenue Southwest               Fargo
BSCMI              122   Magnolia Pointe Shopping Center                  2000 Clemson Road                        Columbia
BSCMI              128   La-Z-Boy - Newington                             3050 Berlin Turnpike                     Newington
BSCMI              135   High Pointe Centre                               700 Columbiana Drive                     Irmo
BSCMI              139   Comfort Inn - Columbus                           4870 Old Rathmell Court                  Obetz
BSCMI              142   King's Ocean                                     2555 Ocean Avenue                        Brooklyn
BSCMI              148   Sack 'N Save Garland                             11445 Garland Road                       Dallas
BSCMI              155   Mack Rite Aid                                    5692 Rising Sun Avenue                   Philadelphia
BSCMI              185   FedEx - Council Bluffs                           3502 South 11th Street                   Council Bluffs

<CAPTION>
Mortgage                           Cut-Off Date                Original Term   Remaining Term      Original     Remaining
Loan Seller  State  Maturity Date    Balance      Note Date     to Maturity     to Maturity     Amort. Term   Amort. Term   ARD Loan
-----------  -----  ------------   ------------   ----------   -------------   --------------   -----------   -----------   --------
<S>          <C>    <C>            <C>            <C>          <C>             <C>              <C>           <C>           <C>
BSCMI         TX     12/01/2016      $1,725,000   12/01/2006             120              116            IO            IO     Yes
BSCMI         TX     12/01/2016      $1,405,000   12/01/2006             120              116            IO            IO     Yes
BSCMI         TX     12/01/2016      $1,325,000   12/01/2006             120              116            IO            IO     Yes
BSCMI         PA     01/01/2017      $5,000,000   12/15/2006             120              117            IO            IO      No
BSCMI         NY     01/01/2017      $5,000,000   12/29/2006             120              117            IO            IO      No
BSCMI         ND     02/01/2017      $4,800,000   01/04/2007             120              118            IO            IO     Yes
BSCMI         SC     03/01/2017      $4,495,671   03/01/2007             120              119           360           359      No
BSCMI         CT     02/01/2017      $4,140,000   01/05/2007             120              118            IO            IO     Yes
BSCMI         SC     03/01/2017      $3,996,241   03/01/2007             120              119           360           359      No
BSCMI         OH     03/01/2017      $3,745,115   02/27/2007             120              119           300           299      No
BSCMI         NY     01/01/2017      $3,500,000   12/18/2006             120              117           360           360      No
BSCMI         TX     03/01/2017      $3,290,000   02/06/2007             120              119            IO            IO     Yes
BSCMI         PA     02/01/2017      $3,100,000   01/09/2007             120              118           360           360      No
BSCMI         IA     12/01/2016      $2,185,000   11/15/2006             120              116            IO            IO     Yes
</TABLE>

                                      1-4

<PAGE>

<TABLE>
<CAPTION>
Mortgage      Mortgage
Loan Seller   Loan No.   Property Name                                    Street Address                           City
-----------   --------   ----------------------------------------------   --------------------------------------   ----------------
<S>           <C>        <C>                                              <C>                                      <C>
BSCMI              189   Madison Plaza                                    307-311 Main Street                      Madison
BSCMI              194   39 W 56th Street                                 39 W 56th Street                         New York
BSCMI              197   Staples - Peru, IL                               4350 Mahoney Drive                       Peru
BSCMI              203   Office Depot Enterprise                          704 Boll Weevil Circle                   Enterprise
BSCMI              205   Chili's - Paris                                  1105 NE Loop 286                         Paris
BSCMI              215   Freeport Henry                                   21-25 Sunrise Highway/ 12 Henry Street   Freeport
                         Starbucks & Auto Zone Portfolio Roll-Up (V)

<CAPTION>
Mortgage                           Cut-Off Date                Original Term   Remaining Term      Original     Remaining
Loan Seller  State  Maturity Date    Balance      Note Date     to Maturity     to Maturity     Amort. Term   Amort. Term   ARD Loan
-----------  -----  ------------   ------------   ----------   -------------   --------------   -----------   -----------   --------
<S>          <C>    <C>            <C>            <C>          <C>             <C>              <C>           <C>           <C>
BSCMI         NJ     01/01/2022      $2,100,000   12/21/2006             180              177           360           360      No
BSCMI         NY     02/01/2017      $1,991,335   01/05/2007             120              118           240           238      No
BSCMI         IL     12/01/2011      $1,930,000   11/09/2006              60               56            IO            IO     Yes
BSCMI         AL     03/01/2017      $1,850,000   02/27/2007             120              119            IO            IO     Yes
BSCMI         TX     01/01/2017      $1,790,000   12/28/2006             120              117            IO            IO     Yes
BSCMI         NY     01/01/2017      $1,550,000   12/18/2006             120              117           360           360      No
</TABLE>

                                      1-5
<PAGE>

                                    EXHIBIT 2
                    REPRESENTATIONS AND WARRANTIES REGARDING
                            INDIVIDUAL MORTGAGE LOANS

1. Mortgage Loan Schedule. The information set forth in the Mortgage Loan
Schedule is complete, true and correct in all material respects as of the date
of this Agreement and as of the Cut-Off Date.

2. Whole Loan; Ownership of Mortgage Loans. Each Mortgage Loan is a whole loan
and not a participation interest in a mortgage loan. Immediately prior to the
transfer to Purchaser of the Mortgage Loans, Seller had good title to, and was
the sole owner of, each Mortgage Loan. Seller has full right, power and
authority to transfer and assign each of the Mortgage Loans to or at the
direction of Purchaser and has validly and effectively conveyed (or caused to be
conveyed) to Purchaser or its designee all of Seller's legal and beneficial
interest in and to the Mortgage Loans free and clear of any and all pledges,
liens, charges, security interests and/or other encumbrances. The sale of the
Mortgage Loans to Purchaser or its designee does not require Seller to obtain
any governmental or regulatory approval or consent that has not been obtained.

3. Payment Record. No scheduled payment of principal and interest under any
Mortgage Loan was 30 days or more past due as of the Cut-Off Date, and no
Mortgage Loan was 30 days or more delinquent in the twelve-month period
immediately preceding the Cut-Off Date.

4. Lien; Valid Assignment. The Mortgage related to and delivered in connection
with each Mortgage Loan constitutes a valid and, subject to the exceptions set
forth in paragraph 13 below, enforceable first priority lien upon the related
Mortgaged Property, prior to all other liens and encumbrances, except for (a)
the lien for current real estate taxes and assessments not yet due and payable,
(b) covenants, conditions and restrictions, rights of way, easements and other
matters that are of public record and/or are referred to in the related lender's
title insurance policy, (c) exceptions and exclusions specifically referred to
in such lender's title insurance policy, (d) other matters to which like
properties are commonly subject, none of which matters referred to in clauses
(b), (c) or (d), individually or in the aggregate, materially interferes with
the security intended to be provided by such Mortgage, the marketability or
current use of the Mortgaged Property or the current ability of the Mortgaged
Property to generate operating income sufficient to service the Mortgage Loan
debt and (e) if such Mortgage Loan is cross-collateralized with any other
Mortgage Loan, the lien of the Mortgage for such other Mortgage Loan (the
foregoing items (a) through (e), the "Permitted Encumbrances"). The related
assignment of such Mortgage executed and delivered in favor of the Trustee is in
recordable form and constitutes a legal, valid and binding assignment,
sufficient to convey to the assignee named therein all of the assignor's right,
title and interest in, to and under such Mortgage; provided, if the related
Mortgage has been recorded in the name of Mortgage Electronic Registration
Systems, Inc. ("MERS") or its designee, no such assignment in favor of the
Trustee shall be required but instead Seller has agreed to take all actions as
are necessary to cause the Trustee to be shown as the owner of the related
Mortgage on the record of MERS for purposes of the system of recording transfers
of beneficial ownership of mortgages maintained by MERS. Such Mortgage, together
with any separate security agreements, chattel mortgages or equivalent
instruments, establishes and creates a valid and, subject to the exceptions set
forth in paragraph 13 below, enforceable security interest in favor of the
holder thereof in all of the related

                                      2-1
<PAGE>

Mortgagor's personal property used in, and reasonably necessary to operate, the
related Mortgaged Property. In the case of a Mortgaged Property operated as a
hotel or an assisted living facility, the Mortgagor's personal property includes
all personal property that a prudent mortgage lender making a similar Mortgage
Loan would deem reasonably necessary to operate the related Mortgaged Property
as it is currently being operated. A Uniform Commercial Code financing statement
has been filed and/or recorded in all places necessary to perfect a valid
security interest in such personal property, to the extent a security interest
may be so created therein, and such security interest is a first priority
security interest, subject to any prior purchase money security interest in such
personal property and any personal property leases applicable to such personal
property. Notwithstanding the foregoing, no representation is made as to the
perfection of any security interest in rents or other personal property to the
extent that possession or control of such items or actions other than the filing
of Uniform Commercial Code financing statements are required in order to effect
such perfection.

5. Assignment of Leases and Rents. The Assignment of Leases related to and
delivered in connection with each Mortgage Loan establishes and creates a valid,
subsisting and, subject to the exceptions set forth in paragraph 13 below,
enforceable first priority lien and first priority security interest in the
related Mortgagor's interest in all leases, sub-leases, licenses or other
agreements pursuant to which any person is entitled to occupy, use or possess
all or any portion of the real property subject to the related Mortgage, and
each assignor thereunder has the full right to assign the same. The related
assignment of any Assignment of Leases not included in a Mortgage has been
executed and delivered in favor of the Trustee and is in recordable form and
constitutes a legal, valid and binding assignment, sufficient to convey to the
assignee named therein all of the assignor's right, title and interest in, to
and under such Assignment of Leases; provided, if the related Mortgage has been
recorded in the name of MERS or its designee, no such assignment in favor of the
Trustee shall be required but instead Seller has agreed to take all actions as
are necessary to cause the Trustee to be shown as the owner of the related
Mortgage on the record of MERS for purposes of the system of recording transfers
of beneficial ownership of mortgages maintained by MERS.

6. Mortgage Status; Waivers and Modifications. No Mortgage has been satisfied,
cancelled, rescinded or subordinated in whole or in part, and the related
Mortgaged Property has not been released from the lien of such Mortgage, in
whole or in part (except for partial reconveyances of real property that are set
forth on Schedule A to Exhibit 2), nor has any instrument been executed that
would effect any such satisfaction, cancellation, subordination, rescission or
release, in any manner that, in each case, materially adversely affects the
value of the related Mortgaged Property. None of the terms of any Mortgage Note,
Mortgage or Assignment of Leases has been impaired, waived, altered or modified
in any respect, except by written instruments, all of which are included in the
related Mortgage File.

7. Condition of Property; Condemnation. Except with respect to Mortgage Loans
secured primarily by unimproved land: (i) with respect to the Mortgaged
Properties securing the Mortgage Loans that were the subject of an engineering
report within 18 months prior to the Cut-Off Date as set forth on Schedule A to
this Exhibit 2, each Mortgaged Property is, to Seller's knowledge, free and
clear of any damage (or adequate reserves therefor have been established) that
would materially and adversely affect its value as security for the related
Mortgage Loan, and (ii) with respect to the Mortgaged Properties securing the
Mortgage Loans that were not the

                                      2-2
<PAGE>

subject of an engineering report within 18 months prior to the Cut-Off Date as
set forth on Schedule A to this Exhibit 2, each Mortgaged Property is in good
repair and condition and all building systems contained therein are in good
working order (or adequate reserves therefor have been established) and each
Mortgaged Property is free of structural defects, in each case, that would
materially and adversely affect its value as security for the related Mortgage
Loan as of the date hereof. Seller has received no notice of the commencement of
any proceeding for the condemnation of all or any material portion of any
Mortgaged Property. To Seller's knowledge (based on surveys and/or title
insurance obtained in connection with the origination of the Mortgage Loans), as
of the date of the origination of each Mortgage Loan, all of the material
improvements on the related Mortgaged Property that were considered in
determining the appraised value of the Mortgaged Property lay wholly within the
boundaries and building restriction lines of such property, except for
encroachments that are insured against by the lender's title insurance policy
referred to herein or that do not materially and adversely affect the value or
marketability of such Mortgaged Property, and no improvements on adjoining
properties materially encroached upon such Mortgaged Property so as to
materially and adversely affect the value or marketability of such Mortgaged
Property, except those encroachments that are insured against by the Title
Policy referred to herein.

8. Title Insurance. Each Mortgaged Property is covered by an American Land Title
Association (or an equivalent form of) lender's title insurance policy or a
marked-up title insurance commitment (on which the required premium has been
paid) which evidences such title insurance policy (the "Title Policy") in the
original principal amount of the related Mortgage Loan after all advances of
principal. Each Title Policy insures that the related Mortgage is a valid first
priority lien on such Mortgaged Property, subject only to Permitted
Encumbrances. Each Title Policy (or, if it has yet to be issued, the coverage to
be provided thereby) is in full force and effect, all premiums thereon have been
paid and no material claims have been made thereunder and no claims have been
paid thereunder. No holder of the related Mortgage has done, by act or omission,
anything that would materially impair the coverage under such Title Policy.
Immediately following the transfer and assignment of the related Mortgage Loan
to the Trustee, such Title Policy (or, if it has yet to be issued, the coverage
to be provided thereby) will inure to the benefit of the Trustee without the
consent of or notice to the insurer. To Seller's knowledge, the insurer issuing
such Title Policy is qualified to do business in the jurisdiction in which the
related Mortgaged Property is located.

9. No Holdbacks. The proceeds of each Mortgage Loan have been fully disbursed
and there is no obligation for future advances with respect thereto. With
respect to each Mortgage Loan, any and all requirements as to completion of any
on-site or off-site improvement and as to disbursements of any funds escrowed
for such purpose that were to have been complied with on or before the Closing
Date have been complied with, or any such funds so escrowed have not been
released.

10. Mortgage Provisions. The Mortgage Note or Mortgage for each Mortgage Loan,
together with applicable state law, contains customary and enforceable
provisions (subject to the exceptions set forth in paragraph 13) such as to
render the rights and remedies of the holder thereof adequate for the practical
realization against the related Mortgaged Property of the principal benefits of
the security intended to be provided thereby.

                                      2-3
<PAGE>

11. Trustee under Deed of Trust. If any Mortgage is a deed of trust, (1) a
trustee, duly qualified under applicable law to serve as such, is properly
designated and serving under such Mortgage, and (2) no fees or expenses are
payable to such trustee by Seller, Purchaser or any transferee thereof except in
connection with a trustee's sale after default by the related Mortgagor or in
connection with any full or partial release of the related Mortgaged Property or
related security for the related Mortgage Loan.

12.   Environmental Conditions.

      (i) Except as set forth on Schedule A to this Exhibit 2, with respect to
      the Mortgaged Properties securing the Mortgage Loans that were the subject
      of an environmental site assessment within 18 months prior to the Cut-Off
      Date, an environmental site assessment prepared to ASTM standards, or an
      update of a previous such report, was performed with respect to each
      Mortgaged Property in connection with the origination or the sale of the
      related Mortgage Loan, a report of each such assessment (or the most
      recent assessment with respect to each Mortgaged Property) (an
      "Environmental Report") has been delivered to, or on behalf of, Purchaser
      or its designee, and Seller has no knowledge of any material and adverse
      environmental condition or circumstance affecting any Mortgaged Property
      that was not disclosed in such report. Each Mortgage requires the related
      Mortgagor to comply with all applicable federal, state and local
      environmental laws and regulations. Where such assessment disclosed the
      existence of a material and adverse environmental condition or
      circumstance affecting any Mortgaged Property, (i) a party not related to
      the Mortgagor was identified as the responsible party for such condition
      or circumstance or (ii) environmental insurance covering such condition
      was obtained or must be maintained until the condition is remediated or
      (iii) the related Mortgagor was required either to provide additional
      security that was deemed to be sufficient by the originator in light of
      the circumstances and/or to establish an operations and maintenance plan.
      Each Mortgage Loan set forth on Schedule C to this Exhibit 2 (each, a
      "Schedule C Loan") is the subject of a Secured Creditor Impaired Property
      Policy, issued by the issuer set forth on Schedule C (the "Policy Issuer")
      and effective as of the date thereof (each a "Secured Creditor Policy") or
      a pollution legal liability policy naming the Seller and its successors
      and/or assigns as an additional insured (a "PLL Policy"; a Secured
      Creditor Policy or a PLL Policy, an "Environmental Insurance Policy").
      Except as set forth on Schedule A to this Exhibit 2, with respect to each
      Schedule C Loan, (i) the Environmental Insurance Policy is in full force
      and effect, (ii)(a) a property condition or engineering report was
      prepared with respect to lead based paint ("LBP") and radon gas ("RG") at
      each Mortgaged Property that is used as a multifamily dwelling, and with
      respect to asbestos containing materials ("ACM") at each related Mortgaged
      Property and (b) if such report disclosed the existence of a material and
      adverse LBP, ACM or RG environmental condition or circumstance affecting
      the related Mortgaged Property, the related Mortgagor (A) was required to
      remediate the identified condition prior to closing the Mortgage Loan or
      provide additional security, or establish with the lender a reserve from
      loan proceeds, in an amount deemed to be sufficient by Seller for the
      remediation of the problem and/or (B) agreed in the Mortgage Loan
      documents to establish an operations and maintenance plan after the
      closing of the Mortgage Loan, (iii) on the effective date of the
      Environmental Insurance Policy, Seller as originator had no knowledge of
      any material and adverse environmental condition or

                                      2-4
<PAGE>

      circumstance affecting the Mortgaged Property (other than the existence of
      LBP, ACM or RG) that was not disclosed to the Policy Issuer in one or more
      of the following: (a) the application for insurance, (b) a borrower
      questionnaire that was provided to the Policy Issuer or (c) an engineering
      or other report provided to the Policy Issuer and (iv) the premium of any
      Environmental Insurance Policy has been paid through the maturity of the
      policy's term and the term of such policy extends at least five years
      beyond the maturity of the Mortgage Loan. Each Environmental Insurance
      Policy covering a Mortgaged Property identified on Schedule C to this
      Exhibit 2 that constitutes a PLL Policy (1) has a term that is
      co-terminous with the Maturity Date (or, in the case of an ARD Loan, the
      Anticipated Repayment Date) of the related Mortgage Loan, (2) provides for
      a deductible in an amount reasonably acceptable to the Seller and (3) is
      in an amount reasonably acceptable to the Seller.

      (ii) With respect to the Mortgaged Properties securing the Mortgage Loans
      that were not the subject of an environmental site assessment prepared to
      ASTM standards within 18 months prior to the Cut-Off Date as set forth on
      Schedule A to this Exhibit 2, (i) no Hazardous Material is present on such
      Mortgaged Property such that (1) the value of such Mortgaged Property is
      materially and adversely affected or (2) under applicable federal, state
      or local law, (a) such Hazardous Material could be required to be
      eliminated at a cost materially and adversely affecting the value of the
      Mortgaged Property before such Mortgaged Property could be altered,
      renovated, demolished or transferred or (b) the presence of such Hazardous
      Material could (upon action by the appropriate governmental authorities)
      subject the owner of such Mortgaged Property, or the holders of a security
      interest therein, to liability for the cost of eliminating such Hazardous
      Material or the hazard created thereby at a cost materially and adversely
      affecting the value of the Mortgaged Property, and (ii) such Mortgaged
      Property is in material compliance with all applicable federal, state and
      local laws pertaining to Hazardous Materials or environmental hazards, any
      noncompliance with such laws does not have a material adverse effect on
      the value of such Mortgaged Property and neither Seller nor, to Seller's
      knowledge, the related Mortgagor or any current tenant thereon, has
      received any notice of violation or potential violation of any such law.

      "Hazardous Materials" means gasoline, petroleum products, explosives,
      radioactive materials, polychlorinated biphenyls or related or similar
      materials, and any other substance or material as may be defined as a
      hazardous or toxic substance by any federal, state or local environmental
      law, ordinance, rule, regulation or order, including without limitation,
      the Comprehensive Environmental Response, Compensation and Liability Act
      of 1980, as amended (42 U.S.C. ss.ss. 9601 et seq.), the Hazardous
      Materials Transportation Act as amended (42 U.S.C. ss.ss. 6901 et seq.),
      the Federal Water Pollution Control Act as amended (33 U.S.C. ss.ss. 1251
      et seq.), the Clean Air Act (42 U.S.C. ss.ss. 1251 et seq.) and any
      regulations promulgated pursuant thereto.

13. Loan Document Status. Each Mortgage Note, Mortgage and other agreement that
evidences or secures such Mortgage Loan and was executed by or on behalf of the
related Mortgagor is the legal, valid and binding obligation of the maker
thereof (subject to any non-recourse provisions contained in any of the
foregoing agreements and any applicable state anti-deficiency or market value
limit deficiency legislation), enforceable in accordance with its terms,

                                      2-5
<PAGE>

except as such enforcement may be limited by bankruptcy, insolvency,
reorganization or other similar laws affecting the enforcement of creditors'
rights generally, and by general principles of equity (regardless of whether
such enforcement is considered in a proceeding in equity or at law) and there is
no valid defense, counterclaim or right of offset or rescission available to the
related Mortgagor with respect to such Mortgage Note, Mortgage or other
agreement.

14. Insurance. Each Mortgaged Property is, and is required pursuant to the
related Mortgage to be, insured by (a) a fire and extended perils insurance
policy providing coverage against loss or damage sustained by reason of fire,
lightning, windstorm, hail, explosion, riot, riot attending a strike, civil
commotion, aircraft, vehicles and smoke, and, to the extent required as of the
date of origination by the originator of such Mortgage Loan consistent with its
normal commercial mortgage lending practices, against other risks insured
against by persons operating like properties in the locality of the Mortgaged
Property in an amount not less than the lesser of the principal balance of the
related Mortgage Loan and the replacement cost of the Mortgaged Property, and
not less than the amount necessary to avoid the operation of any co-insurance
provisions with respect to the Mortgaged Property, and the policy contains no
provisions for a deduction for depreciation; (b) a business interruption or
rental loss insurance policy, in an amount at least equal to twelve (12) months
of operations of the Mortgaged Property estimated as of the date of origination
by the originator of such Mortgage Loan consistent with its normal commercial
lending practices; (c) a flood insurance policy (if any portion of buildings or
other structures on the Mortgaged Property are located in an area identified by
the Federal Emergency Management Agency as having special flood hazards and the
Federal Emergency Management Agency requires flood insurance to be maintained);
and (d) a comprehensive general liability insurance policy in amounts as are
generally required by commercial mortgage lenders, and in any event not less
than $1 million per occurrence. Such insurance policy contains a standard
mortgagee clause that names the mortgagee as an additional insured in the case
of liability insurance policies and as a loss payee in the case of property
insurance policies and requires prior notice to the holder of the Mortgage of
termination or cancellation. No such notice has been received, including any
notice of nonpayment of premiums, that has not been cured. Each Mortgage
obligates the related Mortgagor to maintain all such insurance and, upon such
Mortgagor's failure to do so, authorizes the holder of the Mortgage to maintain
such insurance at the Mortgagor's cost and expense and to seek reimbursement
therefor from such Mortgagor. Each Mortgage provides that casualty insurance
proceeds will be applied (a) to the restoration or repair of the related
Mortgaged Property, (b) to the restoration or repair of the related Mortgaged
Property, with any excess insurance proceeds after restoration or repair being
paid to the Mortgagor, or (c) to the reduction of the principal amount of the
Mortgage Loan.

15. Taxes and Assessments. As of the Closing Date, there are no delinquent or
unpaid taxes, assessments (including assessments payable in future installments)
or other outstanding charges affecting any Mortgaged Property that are or may
become a lien of priority equal to or higher than the lien of the related
Mortgage. For purposes of this representation and warranty, real property taxes
and assessments shall not be considered unpaid until the date on which interest
or penalties would be first payable thereon.

16. Mortgagor Bankruptcy. No Mortgagor is, to Seller's knowledge, a debtor in
any state or federal bankruptcy or insolvency proceeding. As of the date of
origination, (i) with respect to Mortgage Loans with a principal balance greater
than $3,500,000, no tenant physically

                                      2-6
<PAGE>

occupying 25% or more (by square feet) of the net rentable area of the related
Mortgaged Property was, to Seller's knowledge, a debtor in any state or federal
bankruptcy or insolvency proceeding and (ii) with respect to Mortgage Loans with
a principal balance equal to or less than $3,500,000 no tenant physically
occupying 50% or more (by square feet) of the net rentable area of the related
Mortgaged Property was, to Seller's knowledge, a debtor in any state or federal
bankruptcy or insolvency proceeding.

17. Leasehold Estate. Each Mortgaged Property consists of a fee simple estate in
real estate or, if the related Mortgage Loan is secured in whole or in part by
the interest of a Mortgagor as a lessee under a ground lease of a Mortgaged
Property (a "Ground Lease"), by the related Mortgagor's interest in the Ground
Lease but not by the related fee interest in such Mortgaged Property (the "Fee
Interest"), and as to such Ground Leases:

      (i) Such Ground Lease or a memorandum thereof has been or will be duly
      recorded; such Ground Lease (or the related estoppel letter or lender
      protection agreement between Seller and related lessor) does not prohibit
      the current use of the Mortgaged Property and does not prohibit the
      interest of the lessee thereunder to be encumbered by the related
      Mortgage; and there has been no material change in the payment terms of
      such Ground Lease since the origination of the related Mortgage Loan, with
      the exception of material changes reflected in written instruments that
      are a part of the related Mortgage File;

      (ii) The lessee's interest in such Ground Lease is not subject to any
      liens or encumbrances superior to, or of equal priority with, the related
      Mortgage, other than Permitted Encumbrances;

      (iii) The Mortgagor's interest in such Ground Lease is assignable to
      Purchaser and its successors and assigns upon notice to, but without the
      consent of, the lessor thereunder (or, if such consent is required, it has
      been obtained prior to the Closing Date) and, in the event that it is so
      assigned, is further assignable by Purchaser and its successors and
      assigns upon notice to, but without the need to obtain the consent of,
      such lessor or if such lessor's consent is required it cannot be
      unreasonably withheld;

      (iv) Such Ground Lease is in full force and effect, and the Ground Lease
      provides that no material amendment to such Ground Lease is binding on a
      mortgagee unless the mortgagee has consented thereto, and Seller has
      received no notice that an event of default has occurred thereunder, and,
      to Seller's knowledge, there exists no condition that, but for the passage
      of time or the giving of notice, or both, would result in an event of
      default under the terms of such Ground Lease;

      (v) Such Ground Lease, or an estoppel letter or other agreement, (A)
      requires the lessor under such Ground Lease to give notice of any default
      by the lessee to the holder of the Mortgage; and (B) provides that no
      notice of termination given under such Ground Lease is effective against
      the holder of the Mortgage unless a copy of such notice has been delivered
      to such holder and the lessor has offered or is required to enter into a
      new lease with such holder on terms that do not materially vary from the
      economic terms of the Ground Lease.

                                      2-7
<PAGE>

      (vi) A mortgagee is permitted a reasonable opportunity (including, where
      necessary, sufficient time to gain possession of the interest of the
      lessee under such Ground Lease) to cure any default under such Ground
      Lease, which is curable after the receipt of notice of any such default,
      before the lessor thereunder may terminate such Ground Lease;

      (vii) Such Ground Lease has an original term (including any extension
      options set forth therein) which extends not less than twenty years beyond
      the Stated Maturity Date of the related Mortgage Loan;

      (viii) Under the terms of such Ground Lease and the related Mortgage,
      taken together, any related insurance proceeds or condemnation award
      awarded to the holder of the ground lease interest will be applied either
      (A) to the repair or restoration of all or part of the related Mortgaged
      Property, with the mortgagee or a trustee appointed by the related
      Mortgage having the right to hold and disburse such proceeds as the repair
      or restoration progresses (except in such cases where a provision
      entitling a third party to hold and disburse such proceeds would not be
      viewed as commercially unreasonable by a prudent commercial mortgage
      lender), or (B) to the payment of the outstanding principal balance of the
      Mortgage Loan together with any accrued interest thereon; and

      (ix) Such Ground Lease does not impose any restrictions on subletting
      which would be viewed as commercially unreasonable by prudent commercial
      mortgage lenders lending on a similar Mortgaged Property in the lending
      area where the Mortgaged Property is located; and such Ground Lease
      contains a covenant that the lessor thereunder is not permitted, in the
      absence of an uncured default, to disturb the possession, interest or
      quiet enjoyment of the lessee thereunder for any reason, or in any manner,
      which would materially adversely affect the security provided by the
      related Mortgage.

      (x) Such Ground Lease requires the Lessor to enter into a new lease upon
      termination of such Ground Lease if the Ground Lease is rejected in a
      bankruptcy proceeding.

18. Escrow Deposits. All escrow deposits and payments relating to each Mortgage
Loan that are, as of the Closing Date, required to be deposited or paid have
been so deposited or paid.

19. LTV Ratio. The gross proceeds of each Mortgage Loan to the related Mortgagor
at origination did not exceed the non-contingent principal amount of the
Mortgage Loan and either: (a) such Mortgage Loan is secured by an interest in
real property having a fair market value (i) at the date the Mortgage Loan was
originated, at least equal to 80 percent of the original principal balance of
the Mortgage Loan or (ii) at the Closing Date, at least equal to 80 percent of
the principal balance of the Mortgage Loan on such date; provided that for
purposes hereof, the fair market value of the real property interest must first
be reduced by (x) the amount of any lien on the real property interest that is
senior to the Mortgage Loan and (y) a proportionate amount of any lien that is
in parity with the Mortgage Loan (unless such other lien secures a Mortgage Loan
that is cross-collateralized with such Mortgage Loan, in which event the
computation described in clauses (a)(i) and (a)(ii) of this paragraph 19 shall
be made on a pro rata basis in accordance with the fair market values of the
Mortgaged Properties securing such cross-collateralized Mortgage Loans); or (b)
substantially all the proceeds of such Mortgage Loan were used to acquire,
improve or protect the real property that served as the only security for such
Mortgage

                                      2-8
<PAGE>

Loan (other than a recourse feature or other third party credit enhancement
within the meaning of Treasury Regulations Section 1.860G-2(a)(1)(ii)).

20. Mortgage Loan Modifications. Any Mortgage Loan that was "significantly
modified" prior to the Closing Date so as to result in a taxable exchange under
Section 1001 of the Code either (a) was modified as a result of the default
under such Mortgage Loan or under circumstances that made a default reasonably
foreseeable or (b) satisfies the provisions of either clause (a)(i) of paragraph
19 (substituting the date of the last such modification for the date the
Mortgage Loan was originated) or clause (a)(ii) of paragraph 19, including the
proviso thereto.

21. Advancement of Funds by Seller. No holder of a Mortgage Loan has advanced
funds or induced, solicited or knowingly received any advance of funds from a
party other than the owner of the related Mortgaged Property, directly or
indirectly, for the payment of any amount required by such Mortgage Loan.

22. No Mechanics' Liens. Each Mortgaged Property is free and clear of any and
all mechanics' and materialmen's liens that are prior or equal to the lien of
the related Mortgage, and no rights are outstanding that under law could give
rise to any such lien that would be prior or equal to the lien of the related
Mortgage except, in each case, for liens insured against by the Title Policy
referred to herein.

23. Compliance with Usury Laws. Each Mortgage Loan complied with all applicable
usury laws in effect at its date of origination.

24. Cross-collateralization. No Mortgage Loan is cross-collateralized or
cross-defaulted with any loan other than one or more other Mortgage Loans.

25. Releases of Mortgaged Property. Except as described in the next sentence, no
Mortgage Note or Mortgage requires the mortgagee to release all or any material
portion of the related Mortgaged Property that was included in the appraisal for
such Mortgaged Property, and/or generates income from the lien of the related
Mortgage except upon payment in full of all amounts due under the related
Mortgage Loan or in connection with the defeasance provisions of the related
Note and Mortgage. The Mortgages relating to those Mortgage Loans identified on
Schedule A hereto require the mortgagee to grant releases of portions of the
related Mortgaged Properties upon (a) the satisfaction of certain legal and
underwriting requirements and/or (b) the payment of a predetermined or
objectively determinable release price and prepayment consideration in
connection therewith. Except as described in the first sentence hereof and for
those Mortgage Loans identified on Schedule A, no Mortgage Loan permits the full
or partial release or substitution of collateral unless the mortgagee or
servicer can require the Borrower to provide an opinion of tax counsel to the
effect that such release or substitution of collateral (a) would not constitute
a "significant modification" of such Mortgage Loan within the meaning of Treas.
Reg. ss.1.1001-3 and (b) would not cause such Mortgage Loan to fail to be a
"qualified mortgage" within the meaning of Section 860G(a)(3)(A) of the Code.

26. No Equity Participation or Contingent Interest. No Mortgage Loan contains
any equity participation by the lender or provides for negative amortization
(except that the ARD Loan may provide for the accrual of interest at an
increased rate after the Anticipated Repayment Date) or

                                      2-9
<PAGE>

for any contingent or additional interest in the form of participation in the
cash flow of the related Mortgaged Property.

27. No Material Default. To Seller's knowledge, there exists no material
default, breach, violation or event of acceleration (and no event which, with
the passage of time or the giving of notice, or both, would constitute any of
the foregoing) under the documents evidencing or securing the Mortgage Loan, in
any such case to the extent the same materially and adversely affects the value
of the Mortgage Loan and the related Mortgaged Property; provided, however, that
this representation and warranty does not address or otherwise cover any
default, breach, violation or event of acceleration that specifically pertains
to any matter otherwise covered by any other representation and warranty made by
Seller in any of paragraphs 3, 7, 8, 12, 14, 15, 16 and 17 of this Exhibit 2.

28. Inspections. Seller (or if Seller is not the originator, the originator of
the Mortgage Loan) has inspected or caused to be inspected each Mortgaged
Property in connection with the origination of the related Mortgage Loan.

29. Local Law Compliance. Based on due diligence considered reasonable by
prudent commercial mortgage lenders in the lending area where the Mortgaged
Property is located, the improvements located on or forming part of each
Mortgaged Property comply with applicable zoning laws and ordinances, or
constitute a legal non-conforming use or structure or, if any such improvement
does not so comply, such non-compliance does not materially and adversely affect
the value of the related Mortgaged Property, such value as determined by the
appraisal performed at origination or in connection with the sale of the related
Mortgage Loan by Seller hereunder.

30. Junior Liens. None of the Mortgage Loans permits the related Mortgaged
Property to be encumbered by any lien (other than a Permitted Encumbrance)
junior to or of equal priority with the lien of the related Mortgage without the
prior written consent of the holder thereof or the satisfaction of debt service
coverage or similar criteria specified therein. Seller has no knowledge that any
of the Mortgaged Properties is encumbered by any lien junior to the lien of the
related Mortgage.

31. Actions Concerning Mortgage Loans. To the knowledge of Seller, there are no
actions, suits or proceedings before any court, administrative agency or
arbitrator concerning any Mortgage Loan, Mortgagor or related Mortgaged Property
that might adversely affect title to the Mortgaged Property or the validity or
enforceability of the related Mortgage or that might materially and adversely
affect the value of the Mortgaged Property as security for the Mortgage Loan or
the use for which the premises were intended.

32. Servicing. The servicing and collection practices used by Seller or any
prior holder or servicer of each Mortgage Loan have been in all material
respects legal, proper and prudent and have met customary industry standards.

33. Licenses and Permits. To Seller's knowledge, based on due diligence that it
customarily performs in the origination of comparable mortgage loans, as of the
date of origination of each Mortgage Loan or as of the date of the sale of the
related Mortgage Loan by Seller hereunder, the

                                      2-10
<PAGE>

related Mortgagor was in possession of all material licenses, permits and
franchises required by applicable law for the ownership and operation of the
related Mortgaged Property as it was then operated.

34. Assisted Living Facility Regulation. If the Mortgaged Property is operated
as an assisted living facility, to Seller's knowledge (a) the related Mortgagor
is in compliance in all material respects with all federal and state laws
applicable to the use and operation of the related Mortgaged Property and (b) if
the operator of the Mortgaged Property participates in Medicare or Medicaid
programs, the facility is in compliance in all material respects with the
requirements for participation in such programs.

35. Collateral in Trust. The Mortgage Note for each Mortgage Loan is not secured
by a pledge of any collateral that has not been assigned to Purchaser.

36. Due on Sale. Each Mortgage Loan contains a "due on sale" clause, which
provides for the acceleration of the payment of the unpaid principal balance of
the Mortgage Loan if, without prior written consent of the holder of the
Mortgage, the property subject to the Mortgage or any material portion thereof,
or a controlling interest in the related Mortgagor, is transferred, sold or
encumbered by a junior mortgage or deed of trust; provided, however, that
certain Mortgage Loans provide a mechanism for the assumption of the loan by a
third party upon the Mortgagor's satisfaction of certain conditions precedent,
and upon payment of a transfer fee, if any, or transfer of interests in the
Mortgagor or constituent entities of the Mortgagor to a third party or parties
related to the Mortgagor upon the Mortgagor's satisfaction of certain conditions
precedent.

37. Single Purpose Entity. The Mortgagor on each Mortgage Loan with a Cut-Off
Date Principal Balance in excess of $10 million, was, as of the origination of
the Mortgage Loan, a Single Purpose Entity. For this purpose, a "Single Purpose
Entity" shall mean an entity, other than an individual, whose organizational
documents provide substantially to the effect that it was formed or organized
solely for the purpose of owning and operating one or more of the Mortgaged
Properties securing the Mortgage Loans and prohibit it from engaging in any
business unrelated to such Mortgaged Property or Properties, and whose
organizational documents further provide, or which entity represented in the
related Mortgage Loan documents, substantially to the effect that it does not
have any assets other than those related to its interest in and operation of
such Mortgaged Property or Properties, or any indebtedness other than as
permitted by the related Mortgage(s) or the other related Mortgage Loan
documents, that it has its own books and records and accounts separate and apart
from any other person (other than a Mortgagor for a Mortgage Loan that is
cross-collateralized and cross-defaulted with the related Mortgage Loan), and
that it holds itself out as a legal entity, separate and apart from any other
person.

38. Non-Recourse Exceptions. The Mortgage Loan documents for each Mortgage Loan
provide that such Mortgage Loan constitutes either (a) the recourse obligations
of at least one natural person or (b) the non-recourse obligations of the
related Mortgagor, provided that at least one natural person (and the Mortgagor
if the Mortgagor is not a natural person) is liable to the holder of the
Mortgage Loan for damages arising in the case of fraud or willful
misrepresentation

                                      2-11
<PAGE>

by the Mortgagor, misappropriation of rents, insurance proceeds or condemnation
awards and breaches of the environmental covenants in the Mortgage Loan
documents.

39. Defeasance and Assumption Costs. The related Mortgage Loan documents provide
that the related borrower is responsible for the payment of all reasonable costs
and expenses of the lender incurred in connection with the defeasance of such
Mortgage Loan and the release of the related Mortgaged Property, and the
borrower is required to pay all reasonable costs and expenses of the lender
associated with the approval of an assumption of such Mortgage Loan.

40. Defeasance. No Mortgage Loan provides that (i) it can be defeased until the
date that is more than two years after the Closing Date, (ii) that it can be
defeased with any property other than government securities (as defined in
Section 2(a)(16) of the Investment Company Act of 1940, as amended) or any
direct non-callable security issued or guaranteed as to principal or interest by
the United States that will provide interest and principal payments sufficient
to satisfy scheduled payments of interest and principal as required under the
related Mortgage Loan, or (iii) defeasance requires the payment of any
consideration other than (a) reimbursement of incidental costs and expenses
and/or (b) a specified dollar amount or an amount that is based on a formula
that uses objective financial information (as defined in Treasury Regulation
Section 1.446-3(c)(4)(ii)).

41. Prepayment Premiums. As of the applicable date of origination of each such
Mortgage Loan, any prepayment premiums and yield maintenance charges payable
under the terms of the Mortgage Loans, in respect of voluntary prepayments,
constituted customary prepayment premiums and yield maintenance charges for
commercial mortgage loans.

42. Terrorism Insurance. With respect to each Mortgage Loan that has a principal
balance as of the Cut-off Date that is greater than or equal to $20,000,000, the
related all risk insurance policy and business interruption policy do not
specifically exclude Acts of Terrorism, as defined in the Terrorism Risk
Insurance Act of 2002, from coverage, or if such coverage is excluded, is
covered by a separate terrorism insurance policy. With respect to each other
Mortgage Loan, the related all risk insurance policy and business interruption
policy did not as of the date of origination of the Mortgage Loan, and, to
Seller's knowledge, do not, as of the date hereof, specifically exclude Acts of
Terrorism from coverage, or if such coverage is excluded, it is covered by a
separate terrorism insurance policy. With respect to each of the Mortgage Loans,
the related Mortgage Loan documents do not expressly waive or prohibit the
mortgagee from requiring coverage for acts of terrorism or damages related
thereto, except to the extent that any right to require such coverage may be
limited by commercially reasonable availability, or as otherwise indicated on
Schedule A.

43. Foreclosure Property. Seller is not selling any Mortgage Loan as part of a
plan to transfer the underlying Mortgaged Property to Purchaser, and Seller does
not know or, to Seller's knowledge, have reason to know that any Mortgage Loan
will default. The representations in this paragraph 43 are being made solely for
the purpose of determining whether the Mortgaged Property, if acquired by the
Trust, would qualify as "foreclosure property" within the meaning of Section
860G(a)(8) of the Code, and may not be relied upon or used for any other
purpose. Such representations shall not be construed as a guarantee to any
degree that defaults or losses will not occur.

                                      2-12
<PAGE>
                               Schedule A

                  Exceptions to Representations and Warranties

<TABLE>
<CAPTION>
REP NO.                        LOAN NO.    LOAN NAME                EXPLANATION
-------                        --------    ---------                -----------
<S>                            <C>         <C>                       <C>

12
Environmental Conditions       41726       First & Shaw              The date of the Environmental
                                                                     Site Assessment (ESA) report
                                                                     (11/29/04) and the Property
                                                                     Condition Assessment (PCA)
                                                                     report (11/02/04) is dated
                                                                     greater than eighteen months
                                                                     prior to the Cut-Off Date.
14
Insurance                      49205       Academy Sports HQ         Lender waived Business
                                                                     Interruption coverage because
                                                                     of the strong rebuild
                                                                     requirement in the Tenant's
                                                                     lease, and rents can not abate
                                                                     in the face of any casualty.
                                                                     Lender has agreed to accept a
                                                                     REIT guaranty for Business
                                                                     Interruption coverage equal to
                                                                     10% of the loan amount (or
                                                                     $6.825mm, or approx. 11
                                                                     months) at closing. However,
                                                                     if additional Business
                                                                     Interruption  limits are
                                                                     required by the rating
                                                                     agencies or buyers of this
                                                                     loan, the borrower will
                                                                     provide either (i) a
                                                                     replacement non-consolidation
                                                                     opinion and revised guaranty
                                                                     for the full 18 months of
                                                                     Business Interruption  or (ii)
                                                                     a Business Interruption policy
                                                                     for the amount from $6.825 to
                                                                     the full 18 months.

                               48507       Tractor Supply Portfolio  Terrorism has been waived for
                                                                     property building coverage by
                                                                     Lender, however, terrorism is
                                                                     included in Business
                                                                     Interruption coverage.

                               48507       Tractor Supply Portfolio  One of the four properties in
                                                                     this loan is located in a
                                                                     special flood zone and
                                                                     property insurance covering
                                                                     the peril of flood  is in
                                                                     effect, however, Lender has
                                                                     waived the requirement for
                                                                     rents coverage for the peril
                                                                     of flood.
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
REP NO.                        LOAN NO.    LOAN NAME                EXPLANATION
-------                        --------    ---------                -----------
<S>                            <C>         <C>                       <C>
                               49086       Chili's - Paris           Terrorism has been waived for
                                                                     property building coverage by
                                                                     Lender, however, terrorism is
                                                                     included in Business
                                                                     Interruption coverage.

                               48348       Walgreen's Philadelphia   The loan documents (subject to
                                                                     Walgreen's maintaining an
                                                                     investment grade rating) and
                                                                     lease allow Walgreen's to self
                                                                     insure. Walgreen's provided a
                                                                     self insurance letter which
                                                                     indicates that they maintain a
                                                                     comprehensive program of self
                                                                     insurance as required by the
                                                                     lease. Perils included in this
                                                                     property coverage are flood,
                                                                     earthquake, terrorism, toxic
                                                                     mold and windstorm damage,
                                                                     including named storms.
                                                                     Walgreen's has the obligation
                                                                     to repair/rebuild the property
                                                                     for damage caused by fire or
                                                                     any other casualty in which
                                                                     they are required to carry
                                                                     insurance. There is no rent
                                                                     abatement for damage covered
                                                                     by insurance.

                               48293       Walgreen's St.            The loan documents (subject to
                                           Petersburg                Walgreen's maintaining an
                                                                     investment grade rating) and
                                                                     lease allow Walgreen's to self
                                                                     insure. Walgreen's provided a
                                                                     self insurance letter which
                                                                     indicates that they maintain a
                                                                     comprehensive program of  self
                                                                     insurance as required by the
                                                                     lease. Perils included in this
                                                                     property coverage are flood,
                                                                     earthquake, terrorism, toxic
                                                                     mold and windstorm damage,
                                                                     including named storms.
                                                                     Walgreen's has the obligation
                                                                     to repair/rebuild the property
                                                                     for damage caused by fire or
                                                                     any other casualty in which
                                                                     they are required to carry
                                                                     insurance. There is no rent
                                                                     abatement for damage covered
                                                                     by insurance.

                               49441       Sack N' Save Garland      The insurance certificates
                                                                     for two Tenants, Minyard Food
                                                                     Stores, Inc. and Starlight
                                                                     Media LLC are silent as to
                                                                     Terrorism
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
REP NO.                        LOAN NO.    LOAN NAME                EXPLANATION
-------                        --------    ---------                -----------
<S>                            <C>         <C>                       <C>
                                                                     coverage and the lease does
                                                                     not specifically require
                                                                     either Tenant to provide. The
                                                                     Borrower, Cole MT Dallas TX,
                                                                     LLC, has a parent, Cole Credit
                                                                     Property Trust II, Inc., that
                                                                     has guaranteed losses that
                                                                     would otherwise be covered by
                                                                     terrorism insurance. Parent
                                                                     company also guarantees the
                                                                     deductible.

17
Leasehold Estate               47780       Lincoln Village           (iii) The Ground Lease does
                                                                     not give Lender the right to
                                                                     assign the lessee's interest
                                                                     in the Ground Lease without
                                                                     the consent of lessor, (iv)
                                                                     the Ground Lease does not
                                                                     provide that no material
                                                                     amendment to the Ground Lease
                                                                     is binding on a mortgagee
                                                                     unless the mortgagee has
                                                                     consented, (v) (A) Ground
                                                                     Lease does not require lessor
                                                                     to provide notice of default
                                                                     to leasehold mortgagee, and
                                                                     (B) Ground Lease does not
                                                                     provide that notices are
                                                                     ineffective unless leasehold
                                                                     mortgagee receives a copy,
                                                                     (vi)  Ground Lease does not
                                                                     provide an opportunity for
                                                                     leasehold mortgagee to cure
                                                                     lessee's defaults, (viii) (B)
                                                                     Ground Lease required that
                                                                     insurance proceeds be used to
                                                                     restore the property and may
                                                                     not be used to pay down the
                                                                     loan, (ix) the Ground Lease
                                                                     does not contain a covenant
                                                                     that the lessor is not
                                                                     permitted, in the absence of
                                                                     an uncured default, to disturb
                                                                     the quiet enjoyment of the
                                                                     lessee and (x) Ground Lease
                                                                     does not require the lessor to
                                                                     provide a new lease upon
                                                                     termination of the Ground
                                                                     Lease,  however ground lease
                                                                     accounts for parking and
                                                                     access area only, one-year
                                                                     ground rent is being reserved
                                                                     and indemnitor indemnifies
                                                                     leasehold mortgagee for losses
                                                                     for the termination of the
                                                                     Ground Lease.

                               49378       The Shops at Sherman      Two Ground Leases with the
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
REP NO.                        LOAN NO.    LOAN NAME                EXPLANATION
-------                        --------    ---------                -----------
<S>                            <C>         <C>                       <C>
                                           Plaza                     following deficiencies: (iii)
                                                                     One Ground Lease does not give
                                                                     Lender the right to assign the
                                                                     lessee's interest in the
                                                                     Ground Lease without the
                                                                     consent of lessor, (iv) both
                                                                     Ground Leases may be modified
                                                                     with notice to leasehold
                                                                     mortgagee but without
                                                                     leasehold mortgagee's consent,
                                                                     neither Ground Lease provides
                                                                     that no material amendment to
                                                                     the Ground Lease is binding on
                                                                     a mortgagee unless the
                                                                     mortgagee has consented, (v)
                                                                     (A) one Ground Lease does not
                                                                     require that the lessor  give
                                                                     notice to the holder of the
                                                                     mortgage of a lessee default,
                                                                     (B) one Ground Lease does not
                                                                     provide that no notice of
                                                                     termination is effective
                                                                     against the holder unless a
                                                                     copy of the notice has been
                                                                     delivered to the holder, and
                                                                     (x) one Ground Lease does not
                                                                     require the lessor to enter
                                                                     into a new lease with the
                                                                     holder upon termination of the
                                                                     Ground Lease,  however
                                                                     indemnitor indemnifies
                                                                     leasehold mortgagee for losses
                                                                     for the termination of the
                                                                     Ground Lease.

25
Releases/Substitution of       48507       Tractor Supply            The Loan provides for release
Mortgaged Property                         Portfolio, Texas          of a property in connection
                                                                     with defeasance of 115% of the
                                                                     allocated loan amount. Among
                                                                     other things, the release
                                                                     shall not be permitted if the
                                                                     DSCR for the unreleased
                                                                     property is less than 1.86x
                                                                     (at a 5.77 constant) or the
                                                                     LTV is greater than 55%, the
                                                                     Livingston, TX property must
                                                                     be released first.

                                                                     In addition, the related
                                                                     Mortgagor may obtain
                                                                     substitution of properties
                                                                     upon (a) the satisfaction of
                                                                     certain legal and underwriting
                                                                     requirements, (b) the DSCR
                                                                     following substitution must
                                                                     not be less than the greater
                                                                     of the DSCR as of the closing
                                                                     date or
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
REP NO.                        LOAN NO.    LOAN NAME                EXPLANATION
-------                        --------    ---------                -----------
<S>                            <C>         <C>                       <C>
                                                                     the DSCR immediately prior to
                                                                     the substitution, (c) the fair
                                                                     market value of the substitute
                                                                     property is not less than the
                                                                     greater of (i) the fair market
                                                                     value of the substituted
                                                                     property as of the closing
                                                                     date or (ii) the fair market
                                                                     value of the substituted
                                                                     property immediately prior to
                                                                     the substitution (d)
                                                                     confirmation in writing from
                                                                     the Rating Agencies to the
                                                                     effect that such substitution
                                                                     will not result in a
                                                                     withdrawal, qualification or
                                                                     downgrade of the respective
                                                                     ratings in effect immediately
                                                                     prior to such substitution for
                                                                     any class of securities issued
                                                                     in connection with the
                                                                     securitization that are then
                                                                     outstanding, (e) a REMIC legal
                                                                     opinion and (f) payment of a
                                                                     fee equal to 0.50% of the
                                                                     allocated loan amount for the
                                                                     property being substituted.

                               49205       Academy Sports HQ         The Loan provides for release
                                                                     of 2 out-parcels upon payment
                                                                     of 115% of the allocated loan
                                                                     amount together with the
                                                                     applicable prepayment
                                                                     premiums. The amount in excess
                                                                     of par that is received as a
                                                                     payment will be applied to
                                                                     prepay the remaining
                                                                     indebtedness. Among other
                                                                     things, the release shall not
                                                                     be permitted if the DSCR for
                                                                     the unreleased property is
                                                                     less than 1.62x or the LTV is
                                                                     greater than 66%.

                               47315       Viad Office Tower         Borrower is permitted to (i)
                                                                     transfer immaterial portions
                                                                     of the Mortgaged Property to
                                                                     an adjacent property owner,
                                                                     and (ii) make reasonable and
                                                                     appropriate amendments,
                                                                     modifications and/or additions
                                                                     to the REA and grants of
                                                                     easements, restrictions,
                                                                     covenants, reservations and
                                                                     rights of way in the ordinary
                                                                     course of business, both in
                                                                     connection with the
                                                                     development
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
REP NO.                        LOAN NO.    LOAN NAME                EXPLANATION
-------                        --------    ---------                -----------
<S>                            <C>         <C>                       <C>
                                                                     of the adjacent property. The
                                                                     loan documents provide that no
                                                                     such transfer shall materially
                                                                     and adversely affect the
                                                                     ability of Borrower to pay any
                                                                     obligations, the fair market
                                                                     value of the Mortgaged
                                                                     Property, or the use and
                                                                     operation of the Mortgaged
                                                                     Property.

                              47558       Indrio Crossings           The Loan provides for the
                                          Shopping Center            release of certain outparcels.

26
No Equity Participation        47558       Indrio Crossings          An affiliate of Lender made an
                                           Shopping Center           equity investment into Stoltz
                                                                     Real Estate Fund I, L.P., the
                                                                     owner of the Mortgagor.

30
Junior Liens                   49495       39 West 56th Street       The related Mortgagor is not a
                                                                     Single Purpose Entity and may
                                                                     have incurred additional
                                                                     nonaffiliated debt that is not
                                                                     secured by the Mortgaged
                                                                     Property, or may do so in the
                                                                     future.

                               49530       Newbury Street Portfolio  The related Mortgagor has the
                                                                     right under the Loan to incur
                                                                     up mezzanine debt subject to
                                                                     70% LTV and 1.55x DSCR
                                                                     limitations, an intercreditor
                                                                     agreement acceptable to the
                                                                     Lender and rating agency
                                                                     confirmation.

                               49583       Inn at Chester Springs    The related Mortgagor has the
                                                                     right under the Loan to incur
                                                                     up mezzanine debt subject to
                                                                     75% LTV and 1.33x DSCR
                                                                     limitations, an intercreditor
                                                                     agreement acceptable to the
                                                                     Lender and rating agency
                                                                     confirmation.

                               49518       One Dag                   The related Mortgagor has the
                                                                     right under the Loan to incur
                                                                     mezzanine debt and partnership
                                                                     debt not to exceed $10,000,000
                                                                     subject, in each case, to 70%
                                                                     LTV (in the aggregate) and
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
REP NO.                        LOAN NO.    LOAN NAME                EXPLANATION
-------                        --------    ---------                -----------
<S>                            <C>         <C>                       <C>
                                                                     1.25x DSCR (in the aggregate)
                                                                     limitations, an intercreditor
                                                                     agreement acceptable to the
                                                                     Lender and can be paid only
                                                                     out of excess cash flow. The
                                                                     Mezz lender must be a
                                                                     "Qualified Lender".

                               47315       Viad Office Tower         The related Mortgagor has the
                                                                     right under the Loan to incur
                                                                     additional debt, subject to
                                                                     75% LTV, 1.25x DSCR, a
                                                                     subordination and standstill
                                                                     agreement, and other
                                                                     requirements set forth in the
                                                                     loan documents.

                               47800       503 Broadway              The related Mortgagor has the
                                                                     right place additional
                                                                     subordinate debt on the
                                                                     property subject, among other
                                                                     requirements,  to a maximum
                                                                     LTV of 70%, a minimum DSCR of
                                                                     1.35x, such debt is subject to
                                                                     a subordination and standstill
                                                                     agreement and a rating agency
                                                                     confirmation.

36
Due on Sale                    49495       39 West 56th Street       The related Mortgagor is not a
                                                                     Single Purpose Entity and may
                                                                     have incurred additional
                                                                     nonaffiliated debt that is not
                                                                     secured by the Mortgaged
                                                                     Property, or may do so in the
                                                                     future.

                               49530       Newbury Street Portfolio  The related Mortgagor has the
                                                                     right under the Loan to incur
                                                                     up mezzanine debt subject to
                                                                     70% LTV and 1.55x DSCR
                                                                     limitations, an intercreditor
                                                                     agreement acceptable to the
                                                                     Lender and rating agency
                                                                     confirmation.

                               49583       Inn at Chester Springs    The related Mortgagor has the
                                                                     right under the Loan to incur
                                                                     up mezzanine debt subject to
                                                                     75% LTV and 1.33x DSCR
                                                                     limitations, an intercreditor
                                                                     agreement acceptable to the
                                                                     Lender and rating agency
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
REP NO.                        LOAN NO.    LOAN NAME                EXPLANATION
-------                        --------    ---------                -----------
<S>                            <C>         <C>                       <C>

                                                                     confirmation.

                               49518       One Dag                   The related Mortgagor has the
                                                                     right under the Loan to incur
                                                                     mezzanine debt and partnership
                                                                     debt not to exceed $10,000,000
                                                                     subject, in each case, to 70%
                                                                     LTV (in the aggregate) and
                                                                     1.25x DSCR (in the aggregate)
                                                                     limitations, an intercreditor
                                                                     agreement acceptable to the
                                                                     Lender and can be paid only
                                                                     out of excess cash flow. The
                                                                     Mezz lender must be a
                                                                     "Qualified Lender".

                               47315       Viad Office Tower         The related Mortgagor has the
                                                                     right under the Loan to incur
                                                                     additional debt, subject to
                                                                     75% LTV, 1.25x DSCR, a
                                                                     subordination and standstill
                                                                     agreement, and other
                                                                     requirements set forth in the
                                                                     loan documents. In addition,
                                                                     Borrower is permitted to (i)
                                                                     transfer immaterial portions
                                                                     of the Mortgaged Property to
                                                                     an adjacent property owner,
                                                                     and (ii) make reasonable and
                                                                     appropriate amendments,
                                                                     modifications and/or additions
                                                                     to the REA and grants of
                                                                     easements, restrictions,
                                                                     covenants, reservations and
                                                                     rights of way in the ordinary
                                                                     course of business, both in
                                                                     connection with the
                                                                     development of the adjacent
                                                                     property. The loan documents
                                                                     provide that no such transfer
                                                                     shall materially and adversely
                                                                     affect the ability of Borrower
                                                                     to pay any obligations, the
                                                                     fair market value of the
                                                                     Mortgaged Property, or the use
                                                                     and operation of the Mortgaged
                                                                     Property.

                               48642       Las Ventanas              The Loan allows transfers of
                                                                     tenant-in-common interests in
                                                                     the Mortgaged Property.

                               47800       503 Broadway              The related Mortgagor has the
                                                                     right place additional
                                                                     subordinate debt on the
                                                                     property subject, among other

</TABLE>

<PAGE>

<TABLE>
<CAPTION>
REP NO.                        LOAN NO.    LOAN NAME                EXPLANATION
-------                        --------    ---------                -----------
<S>                            <C>         <C>                       <C>
                                                                     requirements,  to a maximum
                                                                     LTV of 70%, a minimum DSCR of
                                                                     1.35x, such debt is subject to
                                                                     a subordination and standstill
                                                                     agreement and a rating agency
                                                                     confirmation.

                               49652       HSBC Sioux Falls          The Loan allows transfers of
                                                                     tenant-in-common interests in
                                                                     the Mortgaged Property.

37
Single Purpose entity          49495       39 West 56th Street       The related Mortgagor is not
                                                                     an a single purpose entity.

38
Non-Recourse Exceptions        47780       Lincoln Village           Non-recourse provisions go to
                                                                     the related Mortgagor and to
                                                                     Inland American Real Estate
                                                                     Trust, Inc., but not to a
                                                                     "natural person".

                               47800       503 Broadway              Non-recourse provisions go to
                                                                     the related Mortgagor and to
                                                                     Heng Sang Realty Corp., but
                                                                     not to a "natural person".

                               47896       Office Depot -            Non-recourse provisions go to
                                           Enterprise                the related Mortgagor and to
                                                                     Cole Operating Partnership II,
                                                                     LP, but not to a "natural
                                                                     person".

                               48378       The Shops at Sherman      Non-recourse provisions go to
                                           Plaza                     the related Mortgagor and to
                                                                     Minto Builders (Florida),
                                                                     Inc., but not to a "natural
                                                                     person".

                               48391       Staples, Peru, IL         Non-recourse provisions go to
                                                                     the related Mortgagor and to
                                                                     Cole Operating Partnership II,
                                                                     LP, but not to a "natural
                                                                     person".

                               48507       Tractor Supply            Non-recourse provisions go to
                                           Portfolio, Texas          the related Mortgagor and to
                                                                     Cole Operating Partnership II,
                                                                     LP, but not to a "natural
                                                                     person".

                               48658       FedEx - Council Bluffs    Non-recourse provisions go to
                                                                     the related Mortgagor and to
                                                                     Cole Operating Partnership II,
                                                                     LP, but not to a "natural
                                                                     person".

                               48659       FedEx - Edwardsville      Non-recourse provisions go to
                                                                     the related Mortgagor and to
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
REP NO.                        LOAN NO.    LOAN NAME                EXPLANATION
-------                        --------    ---------                -----------
<S>                            <C>         <C>                       <C>
                                                                     Cole Operating Partnership II,
                                                                     LP, but not to a "natural
                                                                     person".

                               48660       La-Z-Boy Newington        Non-recourse provisions go to
                                                                     the related Mortgagor and to
                                                                     Cole Operating Partnership II,
                                                                     LP, but not to a "natural
                                                                     person".

                               48748       One AT&T Center           Non-recourse provisions go to
                                                                     the related Mortgagor and to
                                                                     Minto Builders (Florida),
                                                                     Inc., but not to a "natural
                                                                     person".

                               49003       HOM Furniture  - Fargo    Non-recourse provisions go to
                                                                     the related Mortgagor and to
                                                                     Cole Operating Partnership II,
                                                                     LP, but not to a "natural
                                                                     person".

                               49055       Hartz Doubletree          Non-recourse provisions go to
                                                                     the related Mortgagor and to
                                                                     Hartz Financial Corp., but not
                                                                     to a "natural person".

                               49096       Chilis  - Paris           Non-recourse provisions go to
                                                                     the related Mortgagor and to
                                                                     Cole Operating Partnership II,
                                                                     LP, but not to a "natural
                                                                     person".

                               49205       Academy Sports HQ         Non-recourse provisions go to
                                                                     the related Mortgagor and to
                                                                     Cole Operating Partnership II,
                                                                     LP, but not to a "natural
                                                                     person".

                               49441       Sack-N-Save Garland       Non-recourse provisions go to
                                                                     the related Mortgagor and to
                                                                     Cole Operating Partnership II,
                                                                     LP, but not to a "natural
                                                                     person".

                               49473       One Pacific Place         Non-recourse provisions go to
                                                                     the related Mortgagor and to
                                                                     Cole Operating Partnership II,
                                                                     LP, but not to a "natural
                                                                     person".

                               49652       HSBC Sioux Falls          Non-recourse provisions go to
                                                                     the related Mortgagor and to
                                                                     Inland Real Estate Investment
                                                                     Corp., but not to a "natural
                                                                     person".

                               49697       100 Challenger            Non-recourse provisions go to
                                                                     the related Mortgagor and to
                                                                     Hartz Financial Corp., but not
                                                                     to a "natural person".
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
REP NO.                        LOAN NO.    LOAN NAME                EXPLANATION
-------                        --------    ---------                -----------
<S>                            <C>         <C>                       <C>

                               49530       Newbury Street Portfolio  Non-recourse provisions go to
                                                                     the related Mortgagor only.

                               49518       One Dag                   Non-recourse provisions go to
                                                                     the related Mortgagor and to
                                                                     First East Associates, but not
                                                                     to a "natural person". First
                                                                     East Associates is required to
                                                                     maintain $5,000,000 in net
                                                                     worth and $4,000,000 in
                                                                     liquidity.

                               47315       Viad Office Tower         Non-recourse provisions go to
                                                                     the related Mortgagor only.

                               47558       Indrio Crossings          Non-recourse provisions go to
                                           Shopping Center           the related Mortgagor and to
                                                                     Stoltz Real Estate Fund I,
                                                                     L.P., but not to a "natural
                                                                     person".

42
Terrorism Insurance                                                  See Section 14 Insurance above.
</TABLE>

<PAGE>

BSCMSI 2006-TOP 26 Rep Exceptions

Loan #41726 - First and Shaw

The date of the Environmental Site Assessment (ESA) report (11/29/04) and the
Property Condition Assessment (PCA) report (11/02/04) is dated greater than
eighteen months prior to the Cut-Off Date.

Loan #47558 - Indrio Crossing Shopping Center

To mitigate the potential of environmental liability, in lieu of an
environmental indemnification by the borrower, a Zurich - Real Estate
Environmental Liability Insurance (REEL) policy was secured by the Borrower.
There was no evidence of Recognized Environmental Conditions at the property.
Bear Stearns Commercial Mortgage, Inc. and its successors and assigns is named
as "additional insured" on the REEL Policy. The limit of liability on this REEL
Policy is $4,000,000, with a $100,000 deductible. The term of the REEL Policy is
from 11/09/2005 to 11/09/2007. Upon expiration of the current REEL environmental
policy, if an acceptable replacement is not provided, then environmental
indemnification by the borrower and recourse will go to the borrower until
acceptable replacement is provided.

Loan #49518 - One Dag Hammarskjold Plaza

To mitigate the potential of environmental liability caused by the historic use,
present use and future use of the Subject Property and in lieu of an
environmental indemnification by the borrower, a Secured Creditor Impaired
Property Policy (Lesser of Loan Balance) environmental insurance policy is
required. There was no evidence of Recognized Environmental Conditions at the
property. The term of Secured Creditor Impaired Property Policy covers the
15-year loan term. The policy is issued by Zurich and the pay out on this policy
is the lesser of Clean-up costs on the property or $5,000,000. This Secured
Creditor Impaired Property Policy environmental insurance policy only covers the
Lender's environmental exposures relating to the loan; coverage is triggered by
the following conditions being met: Default on the loan, either monetary or
technical, and an environmental condition that is above local, state or federal
action levels. If Clean-Up Costs are less than the Outstanding Balance, the
Insured must foreclose on the Insured Property; and if Outstanding Balance is
less than Clean-Up Costs, the Insured must not have foreclosed on the Insured
Property. After these conditions have been met, the policy will pay to the limit
of the policy (which is $5,000,000, with a $0 deductible), included in the limit
is the coverage for the lender for any environmental related claims against the
lender during the policy term.

Loan #49397 - Sack `N Save Garland

This Phase I Environmental Site Assessment revealed no evidence of Recognized
Environmental Conditions, however, Go Fuel Center has not provided an
environmental indemnity, has limited corporate strength, and limited information
provided by Go Fuel Center; environmental insurance is required.

To mitigate the potential of environmental liability caused by the historic use,
present use and future use of the Subject Property a Secured Creditor Impaired
Property Policy (Lesser of Loan Balance) environmental insurance policy is
required which is issued by Zurich and the Policy Term of 10 years plus an
endorsement to include 5 year tail beyond the loan term. The pay out on this
policy is the lesser of Clean-up costs on the property or $2,000,000. This
Secured Creditor Impaired Property Policy environmental insurance policy only
covers the Lender's environmental exposures relating to the loan; coverage is
triggered by the following conditions being met: Default on the loan, either
monetary or technical, and an environmental condition that is above local, state
or federal action levels. After these conditions have been met, the policy will
pay to the limit of the policy (which is $2,000,000, with a $0 deductible),
included in the limit is the coverage for the lender for any environmental
related claims against the lender during the policy term.

<PAGE>

                                   Schedule B

    List of Mortgagors that are Third-Party Beneficiaries Under Section 5.5

                                      None

<PAGE>

                                   Schedule C

      List of Mortgage Loans Subject to Secured Creditor Impaired Property

                                    Policies

                                      None

<PAGE>

                                    EXHIBIT 3

                                  BILL OF SALE

1. Parties. The parties to this Bill of Sale are the following:

                  Seller:           Bear Stearns Commercial Mortgage, Inc.

                  Purchaser:        Bear Stearns Commercial Mortgage Securities
                                    Inc.

2. Sale. For value received, Seller hereby conveys to Purchaser, without
recourse, all right, title and interest in and to the Mortgage Loans identified
on Exhibit 1 (the "Mortgage Loan Schedule") to the Mortgage Loan Purchase
Agreement, dated as of April 5, 2007 (the "Mortgage Loan Purchase Agreement"),
between Seller and Purchaser and all of the following property:

            (a) All accounts, general intangibles, chattel paper, instruments,
      documents, money, deposit accounts, certificates of deposit, goods,
      letters of credit, advices of credit and investment property consisting
      of, arising from or relating to any of the following property: the
      Mortgage Loans identified on the Mortgage Loan Schedule including the
      related Mortgage Notes, Mortgages, security agreements, and title, hazard
      and other insurance policies, all distributions with respect thereto
      payable after the Cut-Off Date, all substitute or replacement Mortgage
      Loans and all distributions with respect thereto, and the Mortgage Files;

            (b) All accounts, general intangibles, chattel paper, instruments,
      documents, money, deposit accounts, certificates of deposit, goods,
      letters of credit, advices of credit, investment property, and other
      rights arising from or by virtue of the disposition of, or collections
      with respect to, or insurance proceeds payable with respect to, or claims
      against other Persons with respect to, all or any part of the collateral
      described in clause (a) above (including any accrued discount realized on
      liquidation of any investment purchased at a discount); and

            (c) All cash and non-cash proceeds of the collateral described in
      clauses (a) and (b) above.

3. Purchase Price. The amount equal to [_____________].

4. Definitions. Terms used but not defined herein shall have the meanings
assigned to them in the Mortgage Loan Purchase Agreement.

                                      4-1
<PAGE>

IN WITNESS WHEREOF, each of the parties hereto has caused this Bill of Sale to
be duly executed and delivered on this 5th day of April, 2007.

SELLER:                             BEAR STEARNS COMMERCIAL MORTGAGE,
                                    INC.

                                    By:
                                       -----------------------------------------
                                        Name:
                                             -----------------------------------
                                        Title:
                                              ----------------------------------

PURCHASER:                          BEAR STEARNS COMMERCIAL MORTGAGE
                                    SECURITIES INC.

                                    By:
                                       -----------------------------------------
                                        Name:
                                             -----------------------------------
                                        Title:
                                              ----------------------------------

<PAGE>

                                    EXHIBIT 4

                        FORM OF LIMITED POWER OF ATTORNEY

                      TO LASALLE BANK NATIONAL ASSOCIATION

                          AND CENTERLINE SERVICING INC.

                                 WITH RESPECT TO
                BEAR STEARNS COMMERCIAL MORTGAGE SECURITIES INC.,

                  COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES
                                SERIES 2007-TOP26

KNOW ALL MEN BY THESE PRESENTS:

      WHEREAS, pursuant to the terms of the Mortgage Loan Purchase Agreement
dated as of April 5, 2007 (the "Mortgage Loan Purchase Agreement"), between Bear
Stearns Commercial Mortgage, Inc. ("BSCMI") and Bear Stearns Commercial Mortgage
Securities Inc. ("Depositor"), BSCMI is selling certain multifamily and
commercial mortgage loans (the "Mortgage Loans") to Depositor;

      WHEREAS, pursuant to the terms of the Pooling and Servicing Agreement
dated as of April 1, 2007 (the "Pooling and Servicing Agreement"), between the
Depositor, Wells Fargo Bank, National Association, as Master Servicer,
Centerline Servicing Inc. ("CENTERLINE ") as Special Servicer, LaSalle Bank
National Association ("LaSalle") as Trustee and Custodian and Wells Fargo Bank,
National Association, as Paying Agent, Certificate Registrar and Authenticating
Agent, the Trustee and the Special Servicer are granted certain powers,
responsibilities and authority in connection with the completion and the filing
and recording of assignments of mortgage, deeds of trust or similar documents,
Form UCC-2 and UCC-3 assignments of financing statements, reassignments of
assignments of leases, rents and profits and other Mortgage Loan documents
required to be filed or recorded in appropriate public filing and recording
offices;

      WHEREAS, BSCMI has agreed to provide this Limited Power of Attorney
pursuant to the Mortgage Loan Purchase Agreement;

      NOW, THEREFORE, BSCMI does hereby make, constitute and appoint LaSalle,
acting solely in its capacity as Trustee under, and in accordance with the terms
of, the Pooling and Servicing Agreement, BSCMI's true and lawful agent and
attorney-in-fact with respect to each Mortgage Loan in BSCMI's name, place and
stead: (i) to complete (to the extent necessary) and to cause to be submitted
for filing or recording in the appropriate public filing or recording offices,
all assignments of mortgage, deeds of trust or similar documents, assignments or
reassignments of rents, leases and profits, in each case in favor of the
Trustee, as set forth in the definition of "Mortgage File" in Section 1.1 of the
Pooling and Servicing Agreement, that have been received by the Trustee or a
Custodian on its behalf, and all Form UCC-2 or UCC-3 assignments of financing
statements and all other comparable instruments or documents with respect to the
Mortgage Loans which are customarily and reasonably necessary or appropriate to
assign agreements, documents and instruments pertaining to the Mortgage Loans,
in each case in favor of the Trustee as set forth in the definition of "Mortgage
File" in, and in accordance with Section 1.1 of, the Pooling and Servicing
Agreement, and to evidence, provide notice of and

                                      5-1
<PAGE>

perfect such assignments and conveyances in favor of the Trustee in the public
records of the appropriate filing and recording offices; and (ii) to file or
record in the appropriate public filing or recording offices, all other Mortgage
Loan documents to be recorded under the terms of the Pooling and Servicing
Agreement or any such Mortgage Loan documents which have not been submitted for
filing or recordation by BSCMI on or before the date hereof or which have been
so submitted but are subsequently lost or returned unrecorded or unfiled as a
result of actual or purported defects therein, in order to evidence, provide
notice of and perfect such documents in the public records of the appropriate
filing and recording offices. Notwithstanding the foregoing, this Limited Power
of Attorney shall grant to LaSalle and CENTERLINE only such powers,
responsibilities and authority as are set forth in Section 2.1 of the Mortgage
Loan Purchase Agreement.

      BSCMI does also hereby make, constitute and appoint CENTERLINE , acting
solely in its capacity as Special Servicer under the Pooling and Servicing
Agreement, BSCMI's true and lawful agent and attorney-in-fact with respect to
the Mortgage Loans in BSCMI's name, place and stead solely to exercise and
perform all of the rights, authority and powers of LaSalle as set forth in the
preceding paragraph in the event of the failure or the incapacity of LaSalle to
do so for any reason. As between CENTERLINE and any third party, no evidence of
the failure or incapacity of LaSalle shall be required and such third party may
rely upon CENTERLINE 's written statement that it is acting pursuant to the
terms of this Limited Power of Attorney.

      The enumeration of particular powers herein is not intended in any way to
limit the grant to either the Trustee or the Special Servicer as BSCMI's
attorney-in-fact of full power and authority with respect to the Mortgage Loans
to complete (to the extent necessary), file and record any documents,
instruments or other writings referred to above as fully, to all intents and
purposes, as BSCMI might or could do if personally present, hereby ratifying and
confirming whatsoever such attorney-in-fact shall and may do by virtue hereof;
and BSCMI agrees and represents to those dealing with such attorney-in-fact that
they may rely upon this Limited Power of Attorney until termination thereof
under the provisions of Article III below. As between BSCMI, the Depositor, the
Master Servicer, the Special Servicer, the Trustee, the Trust Fund and the
Certificateholders, neither the Trustee nor the Special Servicer may exercise
any right, authority or power granted by this Limited Power of Attorney in a
manner which would violate the terms of the Pooling and Servicing Agreement, but
any and all third parties dealing with either the Trustee or the Special
Servicer as BSCMI's attorney-in-fact may rely completely, unconditionally and
conclusively on the authority of the Trustee or the Special Servicer, as
applicable, and need not make any inquiry about whether the Trustee or the
Special Servicer is acting pursuant to the Pooling and Servicing Agreement. Any
purchaser, title insurance company or other third party may rely upon a written
statement by either the Trustee or the Special Servicer that any particular
Mortgage Loan or related mortgaged real property in question is subject to and
included under this Limited Power of Attorney and the Pooling and Servicing
Agreement.

      Any act or thing lawfully done hereunder by either the Trustee or the
Special Servicer shall be binding on BSCMI and BSCMI's successors and assigns.

<PAGE>

      This Limited Power of Attorney shall continue in full force and effect
with respect to the Trustee and the Special Servicer, as applicable, until the
earliest occurrence of any of the following events:

      (1)   with respect to the Trustee, the termination of the Trustee and its
            replacement with a successor Trustee under the terms of the Pooling
            and Servicing Agreement;

      (2)   with respect to the Special Servicer, the termination of the Special
            Servicer and its replacement with a successor Special Servicer under
            the terms of the Pooling and Servicing Agreement;

      (3)   with respect to the Trustee, the appointment of a receiver or
            conservator with respect to the business of the Trustee, or the
            filing of a voluntary or involuntary petition in bankruptcy by or
            against the Trustee;

      (4)   with respect to the Special Servicer, the appointment of a receiver
            or conservator with respect to the business of the Special Servicer,
            or the filing of a voluntary or involuntary petition in bankruptcy
            by or against the Special Servicer;

      (5)   with respect to each of the Trustee and the Special Servicer and any
            Mortgage Loan, such Mortgage Loan is no longer a part of the Trust
            Fund;

      (6)   with respect to each of the Trustee and the Special Servicer, the
            termination of the Pooling and Servicing Agreement in accordance
            with its terms; and

      (7)   with respect to the Special Servicer, the occurrence of an Event of
            Default under the Pooling and Servicing Agreement with respect to
            the Special Servicer.

      Nothing herein shall be deemed to amend or modify the Pooling and
Servicing Agreement, the Mortgage Loan Purchase Agreement or the respective
rights, duties or obligations of BSCMI under the Mortgage Loan Purchase
Agreement, and nothing herein shall constitute a waiver of any rights or
remedies under the Pooling and Servicing Agreement.

      Capitalized terms used but not defined herein have the respective meanings
assigned thereto in the Mortgage Loan Purchase Agreement.

      THIS LIMITED POWER OF ATTORNEY SHALL BE GOVERNED BY AND CONSTRUED IN
ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, AND THE OBLIGATIONS, RIGHTS
AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH
SUCH LAWS WITHOUT REGARD TO CONFLICT OF LAWS PRINCIPLES APPLIED IN NEW YORK.

                            [Signature on next page]

<PAGE>

      IN WITNESS WHEREOF, BSCMI has caused this instrument to be
executed and its corporate seal to be affixed hereto by its officer
duly authorized as of April 5, 2007.

                                    BEAR STEARNS COMMERCIAL MORTGAGE, INC.

                                    By:
                                            ------------------------------------
                                    Name:
                                            ------------------------------------
                                    Title:
                                            ------------------------------------

<PAGE>

                                 ACKNOWLEDGEMENT

STATE OF NEW YORK       )
                        )  ss:
COUNTY OF NEW YORK      )

      On this ____ day of April, 2007, before me appeared ___________, to me
personally known, who, being by me duly sworn did say that he/she is the
_____________ of Bear Stearns Commercial Mortgage, Inc., and that the seal
affixed to the foregoing instrument is the corporate seal of said corporation,
and that said instrument was signed and sealed in behalf of said corporation by
authority of its board of directors, and said ___________ acknowledged said
instrument to be the free act and deed of said corporation.

                                       -----------------------------------------
                                       Name:
                                            ------------------------------------
                                            Notary Public in and for said County
                                                        and State

My Commission Expires:

---------------------------------EXHIBIT 10.3

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

                        MORTGAGE LOAN PURCHASE AGREEMENT

                                     between

                     WELLS FARGO BANK, NATIONAL ASSOCIATION

                                    as Seller

                                       and

                BEAR STEARNS COMMERCIAL MORTGAGE SECURITIES INC.

                                  as Purchaser

                            Dated as of April 5, 2007

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

<PAGE>

                              TABLE OF CONTENTS

1.    AGREEMENT TO PURCHASE..................................................3

2.    CONVEYANCE OF MORTGAGE LOANS...........................................3

3.    EXAMINATION OF MORTGAGE FILES AND DUE DILIGENCE REVIEW................10

4.    REPRESENTATIONS, WARRANTIES AND COVENANTS OF SELLER AND PURCHASER.....12

5.    REMEDIES UPON BREACH OF REPRESENTATIONS AND WARRANTIES MADE BY
      SELLER................................................................15

6.    CLOSING...............................................................20

7.    CLOSING DOCUMENTS.....................................................21

8.    COSTS.................................................................23

9.    NOTICES...............................................................23

10.   SEVERABILITY OF PROVISIONS............................................24

11.   FURTHER ASSURANCES....................................................24

12.   SURVIVAL..............................................................24

13.   GOVERNING LAW.........................................................24

14.   BENEFITS OF MORTGAGE LOAN PURCHASE AGREEMENT..........................25

15.   MISCELLANEOUS.........................................................25

16.   ENTIRE AGREEMENT......................................................25

Exhibit 1   Mortgage Loan Schedule
Exhibit 2   Representations and Warranties
Exhibit 3   Bill of Sale
Exhibit 4   Power of Attorney

                            Index of Defined Terms

Affected Loan(s)......................................................17
Agreement..............................................................2
Certificate Purchase Agreement.........................................2
Certificates...........................................................2
Closing Date...........................................................3
Collateral Information................................................11
Crossed Mortgage Loans................................................17
Defective Mortgage Loan...............................................17
Final Judicial Determination..........................................19
Indemnification Agreement.............................................13
Initial Purchasers.....................................................2
Master Servicer........................................................2
Material Breach.......................................................16
Material Document Defect..............................................16
Memorandum.............................................................2
MERS...................................................................5
Mortgage File..........................................................4
Mortgage Loan Schedule.................................................3
Mortgage Loans.........................................................2
Officer's Certificate..................................................7
Other Mortgage Loans...................................................2
Pooling and Servicing Agreement........................................2
Private Certificates...................................................2
Prospectus Supplement..................................................2
Public Certificates....................................................2
Purchaser..............................................................2
Repurchased Loan......................................................17
Seller.................................................................2
Special Servicer.......................................................2
Trust..................................................................2
Trustee................................................................2
Underwriters...........................................................2
Underwriting Agreement.................................................2

                                       i
<PAGE>

                        MORTGAGE LOAN PURCHASE AGREEMENT

                     WELLS FARGO BANK, NATIONAL ASSOCIATION
                                  (WELLS LOANS

Mortgage Loan Purchase Agreement ("Agreement"), dated as of April 5, 2007,
between Wells Fargo Bank, National Association ("Seller") and Bear Stearns
Commercial Mortgage Securities Inc. ("Purchaser").

Seller agrees to sell and Purchaser agrees to purchase certain mortgage loans
listed on Exhibit 1 hereto (the "Mortgage Loans") as described herein. Purchaser
will convey the Mortgage Loans to a trust (the "Trust") created pursuant to a
Pooling and Servicing Agreement (the "Pooling and Servicing Agreement"), to be
dated as of April 1, 2007 between Purchaser, as depositor, Wells Fargo Bank,
National Association, as master servicer (the "Master Servicer"), Centerline
Servicing Inc., as special servicer (the "Special Servicer"), LaSalle Bank
National Association, as trustee and custodian (the "Trustee") and Wells Fargo
Bank, National Association, as paying agent, certificate registrar and
authenticating agent. In exchange for the Mortgage Loans and certain other
mortgage loans to be purchased by Purchaser (collectively the "Other Mortgage
Loans"), the Trust will issue to the Depositor pass-through certificates to be
known as Bear Stearns Commercial Mortgage Securities Inc., Commercial Mortgage
Pass-Through Certificates, Series 2007-TOP26 (the "Certificates"). The
Certificates will be issued pursuant to the Pooling and Servicing Agreement.

Capitalized terms used herein but not defined herein shall have the meanings
assigned to them in the Pooling and Servicing Agreement.

The Class A-1, Class A-2, Class A-3, Class A-AB, Class A-4, Class A-1A, Class
A-M and Class A-J Certificates (the "Public Certificates") will be sold by
Purchaser to Bear, Stearns & Co. Inc. and Morgan Stanley & Co. Incorporated (the
"Underwriters"), pursuant to an Underwriting Agreement, between Purchaser and
the Underwriters, dated April 5, 2007 (the "Underwriting Agreement"), and the
Class X-1, Class X-2, Class B, Class C, Class D, Class E, Class F, Class G,
Class H, Class J, Class K, Class L, Class M, Class N, Class O, Class P, Class
R-I, Class R-II and Class R-III Certificates (the "Private Certificates") will
be sold by Purchaser to Bear, Stearns & Co. Inc. and Morgan Stanley & Co.
Incorporated (the "Initial Purchasers") pursuant to a Certificate Purchase
Agreement, between Purchaser and the Initial Purchasers, dated April 5, 2007
(the "Certificate Purchase Agreement"). The Underwriters will offer the Public
Certificates for sale publicly pursuant to a Prospectus dated September 13,
2006, as supplemented by a Prospectus Supplement dated April 5, 2007 (together,
the "Prospectus Supplement") and the Initial Purchasers will offer the Private
Certificates for sale in transactions exempt from the registration requirements
of the Securities Act of 1933 pursuant to a Private Placement Memorandum dated
April 5, 2007 (the "Memorandum").

In consideration of the mutual agreements contained herein, Seller and Purchaser
hereby agree as follows:

                                       2
<PAGE>

1. AGREEMENT TO PURCHASE.

1.1 Seller agrees to sell, and Purchaser agrees to purchase, on a servicing
released basis, the Mortgage Loans identified on the schedule (the "Mortgage
Loan Schedule") annexed hereto as Exhibit 1, as such schedule may be amended to
reflect the actual Mortgage Loans accepted by Purchaser pursuant to the terms
hereof. The Cut-Off Date with respect to the Mortgage Loans is April 1, 2007.
The Mortgage Loans will have an aggregate principal balance as of the close of
business on the Cut-Off Date, after giving effect to any payments due on or
before such date, whether or not received, of $399,814,271. The sale of the
Mortgage Loans shall take place on April 18, 2007 or such other date as shall be
mutually acceptable to the parties hereto (the "Closing Date"). The purchase
price to be paid by Purchaser for the Mortgage Loans shall equal the amount set
forth as such purchase price in a letter dated as of the date hereof, between
the parties to this Agreement and entered into in connection with this Agreement
and the issuance of the Certificates, which purchase price excludes accrued
interest and applicable deal expenses. The purchase price shall be paid to
Seller by wire transfer in immediately available funds on the Closing Date.

1.2 On the Closing Date, Purchaser will assign to the Trustee pursuant to the
Pooling and Servicing Agreement all of its right, title and interest in and to
the Mortgage Loans and its rights under this Agreement (to the extent set forth
in Section 14 hereof), and the Trustee shall succeed to such right, title and
interest in and to the Mortgage Loans and Purchaser's rights under this
Agreement (to the extent set forth in Section 14 hereof).

2. CONVEYANCE OF MORTGAGE LOANS.

2.1 Effective as of the Closing Date, subject only to receipt of the
consideration referred to in Section 1 hereof and the satisfaction of the
conditions specified in Sections 6 and 7 hereof, Seller does hereby transfer,
assign, set over and otherwise convey to Purchaser, without recourse, except as
specifically provided herein all the right, title and interest of Seller, with
the understanding that a Servicing Rights Purchase and Sale Agreement, dated
April 1, 2007, will be executed by Seller and the Master Servicer, in and to the
Mortgage Loans identified on the Mortgage Loan Schedule as of the Closing Date.
The Mortgage Loan Schedule, as it may be amended from time to time on or prior
to the Closing Date, shall conform to the requirements of this Agreement and the
Pooling and Servicing Agreement. In connection with such transfer and
assignment, Seller shall deliver to or on behalf of the Trustee, on behalf of
Purchaser, on or prior to the Closing Date, the Mortgage Note (as described in
clause 2.2.1 hereof) for each Mortgage Loan and on or prior to the fifth
Business Day after the Closing Date, five limited powers of attorney
substantially in the form attached hereto as Exhibit 4 in favor of the Trustee
and the Special Servicer to empower the Trustee and, in the event of the failure
or incapacity of the Trustee, the Special Servicer, to submit for recording, at
the expense of Seller, any mortgage loan documents required to be recorded as
described in the Pooling and Servicing Agreement and any intervening assignments
with evidence of recording thereon that are required to be included in the
Mortgage Files (so long as original counterparts have previously been delivered
to the Trustee). Seller agrees to reasonably cooperate with the Trustee and the
Special Servicer in connection with any additional powers of attorney or
revisions thereto that are requested by such parties for purposes of such
recordation. The parties hereto agree that no such power of

                                       3
<PAGE>

attorney shall be used with respect to any Mortgage Loan by or under
authorization by any party hereto except to the extent that the absence of a
document described in the second preceding sentence with respect to such
Mortgage Loan remains unremedied as of the earlier of (i) the date that is 180
days following the delivery of notice of such absence to Seller, but in no event
earlier than 18 months from the Closing Date, and (ii) the date (if any) on
which such Mortgage Loan becomes a Specially Serviced Mortgage Loan. The Trustee
shall submit such documents, at Seller's expense, after the periods set forth
above, provided, however, the Trustee shall not submit such assignments for
recording if Seller produces evidence that it has sent any such assignment for
recording and certifies that Seller is awaiting its return from the applicable
recording office. In addition, not later than the 30th day following the Closing
Date, Seller shall deliver to or on behalf of the Trustee each of the remaining
documents or instruments specified in Section 2.2 hereof (with such exceptions
as are permitted by this Section 2) with respect to each Mortgage Loan (each, a
"Mortgage File"). (Seller acknowledges that the term "without recourse" does not
modify the duties of Seller under Section 5 hereof.)

2.2 All Mortgage Files, or portions thereof, delivered prior to the Closing Date
are to be held by or on behalf of the Trustee in escrow on behalf of Seller at
all times prior to the Closing Date. The Mortgage Files shall be released from
escrow upon closing of the sale of the Mortgage Loans and payments of the
purchase price therefor as contemplated hereby. The Mortgage File for each
Mortgage Loan shall contain the following documents:

      2.2.1 The original Mortgage Note bearing all intervening endorsements,
endorsed "Pay to the order of LaSalle Bank National Association, as Trustee for
Bear Stearns Commercial Mortgage Securities Inc., Commercial Mortgage
Pass-Through Certificates, Series 2007-TOP26, without recourse, representation
or warranty" or if the original Mortgage Note is not included therein, then a
lost note affidavit, with a copy of the Mortgage Note attached thereto;

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

      2.2.3 The originals of all agreements modifying a Money Term or other
material modification, consolidation and extension agreements, if any, with
evidence of recording thereon, or if any such original modification,
consolidation or extension agreement has been delivered to the appropriate
recording office for recordation and either has not yet been returned

                                       4
<PAGE>

on or prior to the 45th day following the Closing Date with evidence of
recordation thereon or has been lost after recordation, a true copy of such
modification, consolidation or extension certified by Seller together with (i)
in the case of a delay caused by the public recording office, an Officer's
Certificate of Seller stating that such original modification, consolidation or
extension agreement has been dispatched or sent to the appropriate public
recording official for recordation or (ii) in the case of an original
modification, consolidation or extension agreement that has been lost after
recordation, a certification by the appropriate county recording office where
such document is recorded that such copy is a true and complete copy of the
original recorded modification, consolidation or extension agreement, and the
originals of all assumption agreements, if any;

      2.2.4 An original Assignment of Mortgage for each Mortgage Loan, in form
and substance acceptable for recording, signed by the holder of record in favor
of "LaSalle Bank National Association, as Trustee for Bear Stearns Commercial
Mortgage Securities Inc., Commercial Mortgage Pass-Through Certificates, Series
2007-TOP26," provided, if the related Mortgage has been recorded in the name of
Mortgage Electronic Registration Systems, Inc. ("MERS") or its designee, no such
assignments will be required to be submitted for recording or filing and
instead, Seller shall take all actions as are necessary to cause the Trustee to
be shown as the owner of the related Mortgage on the record of MERS for purposes
of the system of recording transfers of beneficial ownership of mortgages
maintained by MERS and shall deliver to the Master Servicer and the Special
Servicer evidence confirming that the Trustee is shown as the owner on the
record of MERS;

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

      2.2.6 If the related Assignment of Leases is separate from the Mortgage,
the original of such Assignment of Leases with evidence of recording thereon or,
if such Assignment of Leases has not been returned on or prior to the 45th day
following the Closing Date from the applicable public recording office, a copy
of such Assignment of Leases certified by Seller to be a true and complete copy
of the original Assignment of Leases submitted for recording, together with (i)
an original of each assignment of such Assignment of Leases with evidence of
recording thereon and showing a complete recorded chain of assignment from the
named assignee to the holder of record, and if any such assignment of such
Assignment of Leases has not been returned from the applicable public recording
office, a copy of such assignment certified by Seller to be a true and

                                       5
<PAGE>

complete copy of the original assignment submitted for recording, and (ii) an
original assignment of such Assignment of Leases, in recordable form, signed by
the holder of record in favor of "LaSalle Bank National Association, as Trustee
for Bear Stearns Commercial Mortgage Securities Inc., Commercial Mortgage
Pass-Through Certificates, Series 2007-TOP26," which assignment may be effected
in the related Assignment of Mortgage, provided, if the related Mortgage has
been recorded in the name of MERS or its designee, no assignment of Assignment
of Leases in favor of the Trustee will be required to be recorded or delivered
and instead, Seller shall take all actions as are necessary to cause the Trustee
to be shown as the owner of the related Mortgage on the record of MERS for
purposes of the system of recording transfers of beneficial ownership of
mortgages maintained by MERS and shall deliver to the Master Servicer and the
Special Servicer evidence confirming that the Trustee is shown as the owner on
the record of MERS;

      2.2.7 The original of each guaranty, if any, constituting additional
security for the repayment of such Mortgage Loan;

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

      2.2.9 (A) UCC financing statements (together with all assignments thereof)
and (B) UCC-2 or UCC-3 financing statements to the Trustee executed and
delivered in connection with the Mortgage Loan, provided, if the related
Mortgage has been recorded in the name of MERS or its designee, no such
financing statements will be required to be recorded or delivered and instead,
Seller shall take all actions as are necessary to cause the Trustee to be shown
as the owner of the related Mortgage on the record of MERS for purposes of the
system of recording transfers of beneficial ownership of mortgages maintained by
MERS and shall deliver to the Master Servicer and the Special Servicer evidence
confirming that the Trustee is shown as the owner on the record of MERS;

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

      2.2.11 Copies of any loan agreements, lock-box agreements and
intercreditor agreements (including, without limitation, any Intercreditor
Agreement, and a copy (that is, not the original) of the mortgage note
evidencing the related B Note), if any, related to any Mortgage Loan;

      2.2.12 Either (A) the original of each letter of credit, if any,
constituting additional collateral for such Mortgage Loan, which shall be
assigned and delivered to the Trustee on behalf of the Trust with a copy to be
held by the Primary Servicer (or the Master Servicer), and applied, drawn,
reduced or released in accordance with documents evidencing or securing the
applicable Mortgage Loan, the Pooling and Servicing Agreement and the Primary
Servicing Agreement or (B) the original of each letter of credit, if any,
constituting additional collateral for such Mortgage Loan, which shall be held
by the Primary Servicer (or the Master Servicer) on

                                       6
<PAGE>

behalf of the Trustee, with a copy to be held by the Trustee, and applied,
drawn, reduced or released in accordance with documents evidencing or securing
the applicable Mortgage Loan, the Pooling and Servicing Agreement and the
Primary Servicing Agreement (it being understood that Seller has agreed (a) that
the proceeds of such letter of credit belong to the Trust, (b) to notify, on or
before the Closing Date, the bank issuing the letter of credit that the letter
of credit and the proceeds thereof belong to the Trust, and to use reasonable
efforts to obtain within 30 days (but in any event to obtain within 90 days)
following the Closing Date, an acknowledgement thereof by the bank (with a copy
of such acknowledgement to be sent to the Trustee) or a reissued letter of
credit and (c) to indemnify the Trust for any liabilities, charges, costs, fees
or other expenses accruing from the failure of Seller to assign all rights to
the letter of credit hereunder including the right and power to draw on the
letter of credit). In the case of clause (B) above, any letter of credit held by
the Primary Servicer (or Master Servicer) shall be held in its capacity as agent
of the Trust, and if the Primary Servicer (or Master Servicer) sells its rights
to service the applicable Mortgage Loan, the Primary Servicer (or Master
Servicer) has agreed to assign the applicable letter of credit to the Trust or
at the direction of the Special Servicer to such party as the Special Servicer
may instruct, in each case, at the expense of the Primary Servicer (or Master
Servicer). The Primary Servicer (or Master Servicer) has agreed to indemnify the
Trust for any loss caused by the ineffectiveness of such assignment;

      2.2.13 The original or a copy of the environmental indemnity agreement, if
any, related to any Mortgage Loan;

      2.2.14 Third-party management agreements for all hotels and for such other
Mortgaged Properties securing Mortgage Loans with a Cut-Off Date principal
balance equal to or greater than $20,000,000;

      2.2.15 Any Environmental Insurance Policy; and

      2.2.16 Any affidavit and indemnification agreement.

The original of each letter of credit referred to in clause 2.2.12 above shall
be delivered to the Primary Servicer, the Master Servicer or the Trustee (as the
case may be) within 45 days of the Closing Date. In addition, a copy of any
ground lease shall be delivered to the Primary Servicer within 30 days of the
Closing Date. Any failure to deliver any ground lease shall constitute a
document defect.

"Officer's Certificate" shall mean a certificate signed by one or more
of the Chairman of the Board, any Vice Chairman, the President, any
Senior Vice President, any Vice President, any Assistant Vice
President, any Treasurer or any Assistant Treasurer.

2.3 The Assignments of Mortgage and assignment of Assignment of Leases referred
to in Sections 2.2.4 and 2.2.6 hereof may be in the form of a single instrument
assigning the Mortgage and the Assignment of Leases to the extent permitted by
applicable law. To avoid the unnecessary expense and administrative
inconvenience associated with the execution and recording or filing of multiple
assignments of mortgages, assignments of leases (to the extent separate from the
mortgages) and assignments of UCC financing statements, Seller shall execute, in
accordance with Section 2.6 hereof, the assignments of mortgages, the
assignments of leases

                                       7
<PAGE>

(to the extent separate from the mortgages) and the assignments of UCC financing
statements relating to the Mortgage Loans naming the Trustee on behalf of the
Certificateholders as assignee. Notwithstanding the fact that such assignments
of mortgages, assignments of leases (to the extent separate from the assignments
of mortgages) and assignments of UCC financing statements shall name the Trustee
on behalf of the Certificateholders as the assignee, the parties hereto
acknowledge and agree that the Mortgage Loans shall for all purposes be deemed
to have been transferred from Seller to Purchaser and from Purchaser to the
Trustee on behalf of the Certificateholders.

2.4 If Seller cannot deliver, or cause to be delivered, as to any Mortgage Loan,
any of the documents and/or instruments referred to in Sections 2.2.2, 2.2.3,
2.2.5 or 2.2.6 hereof, with evidence of recording thereon, solely because of a
delay caused by the public recording office where such document or instrument
has been delivered for recordation within such 45 day period, but Seller
delivers a photocopy thereof (certified by the appropriate county recorder's
office to be a true and complete copy of the original thereof submitted for
recording), to the Trustee within such 45 day period, Seller shall then deliver
within 90 days after the Closing Date the recorded document (or within such
longer period after the Closing Date as the Trustee may consent to, which
consent shall not be unreasonably withheld so long as Seller is, as certified in
writing to the Trustee no less often than monthly, in good faith attempting to
obtain from the appropriate county recorder's office such original or
photocopy).

2.5 The Trustee, as assignee or transferee of Purchaser, shall be entitled to
all scheduled payments of principal due on the Mortgage Loans after the Cut-Off
Date, all other payments of principal collected after the Cut-Off Date (other
than scheduled payments of principal due on or before the Cut-Off Date), and all
payments of interest on the Mortgage Loans allocable to the period commencing on
the Cut-Off Date. All scheduled payments of principal and interest due on or
before the Cut-Off Date and collected after the Cut-Off Date shall belong to
Seller.

2.6 Within 45 days following the Closing Date, Seller shall deliver and
Purchaser, the Trustee or the agents of either may submit or cause to be
submitted for recordation at the expense of Seller, in the appropriate public
office for real property records, each assignment referred to in clauses 2.2.4
and 2.2.6(ii) above. Within 90 days following the Closing Date, Seller shall
deliver and Purchaser, the Trustee or the agents of either may submit or cause
to be submitted for filing, at the expense of Seller, in the appropriate public
office for Uniform Commercial Code financing statements, the assignment referred
to in Section 2.2.1 hereof. If any such document or instrument is lost or
returned unrecorded or unfiled, as the case may be, because of a defect therein,
Seller shall prepare a substitute therefor or cure such defect, and Seller
shall, at its own expense (except in the case of a document or instrument that
is lost by the Trustee), record or file, as the case may be, and deliver such
document or instrument in accordance with this Section 2.

2.7 Documents that are in the possession of Seller, its agents or its
subcontractors that relate to the Mortgage Loans and that are not required to be
delivered to the Trustee shall be shipped by Seller to or at the direction of
the Master Servicer, on behalf of Purchaser, on or prior to the 75th day after
the Closing Date, in accordance with Section 3.1 of the Primary Servicing
Agreement, if applicable.

                                       8
<PAGE>

2.8 The documents required to be delivered to the Master Servicer (or in the
alternative, the Primary Servicer) shall include, to the extent required to be
(and actually) delivered to Seller pursuant to the applicable Mortgage Loan
documents, copies of the following items: the Mortgage Note, any Mortgage, the
Assignment of Leases and the Assignment of Mortgage, any guaranty/indemnity
agreement, any loan agreement, the insurance policies or certificates, as
applicable, the property inspection reports, any financial statements on the
property, any escrow analysis, the tax bills, the Appraisal, the environmental
report, the engineering report, the asset summary, financial information on the
Borrower/sponsor and any guarantors, any letters of credit, any intercreditor
agreement and any Environmental Insurance Policies. Delivery of any of the
foregoing documents to the Primary Servicer shall be deemed a delivery to the
Master Servicer and satisfy Seller's obligations under this subparagraph.

2.9 Upon the sale of the Mortgage Loans by Seller to Purchaser pursuant to this
Agreement, the ownership of each Mortgage Note, Mortgage and the other contents
of the related Mortgage File shall be vested in Purchaser and its assigns, and
the ownership of all records and documents with respect to the related Mortgage
Loan prepared by or that come into the possession of Seller shall immediately
vest in Purchaser and its assigns, and shall be delivered promptly by Seller to
or on behalf of either the Trustee or the Master Servicer as set forth herein,
subject to the requirements of the Primary Servicing Agreement. Seller's and
Purchaser's records shall reflect the transfer of each Mortgage Loan from Seller
to Purchaser and its assigns as a sale.

2.10 It is the express intent of the parties hereto that the conveyance of the
Mortgage Loans and related property to Purchaser by Seller as provided in this
Section 2 be, and be construed as, an absolute sale of the Mortgage Loans and
related property. It is, further, not the intention of the parties that such
conveyance be deemed a pledge of the Mortgage Loans and related property by
Seller to Purchaser to secure a debt or other obligation of Seller. However, in
the event that, notwithstanding the intent of the parties, the Mortgage Loans or
any related property are held to be the property of Seller, or if for any other
reason this Agreement is held or deemed to create a security interest in the
Mortgage Loans or any related property, then:

      2.10.1 this Agreement shall be deemed to be a security agreement; and

      2.10.2 the conveyance provided for in this Section 2 shall be deemed to be
a grant by Seller to Purchaser of a security interest in all of Seller's right,
title, and interest, whether now owned or hereafter acquired, in and to:

            A. All accounts, general intangibles, chattel paper, instruments,
      documents, money, deposit accounts, certificates of deposit, goods,
      letters of credit, advices of credit and investment property consisting
      of, arising from or relating to any of the following property: the
      Mortgage Loans identified on the Mortgage Loan Schedule, including the
      related Mortgage Notes, Mortgages, security agreements, and title, hazard
      and other insurance policies, all distributions with respect thereto
      payable after the Cut-Off Date, all substitute or replacement Mortgage
      Loans and all distributions with respect thereto, and the Mortgage Files;

            B. All accounts, general intangibles, chattel paper, instruments,
      documents, money, deposit accounts, certificates of deposit, goods,
      letters of credit, advices of credit,

                                       9
<PAGE>

      investment property and other rights arising from or by virtue of the
      disposition of, or collections with respect to, or insurance proceeds
      payable with respect to, or claims against other Persons with respect to,
      all or any part of the collateral described in clause (A) above (including
      any accrued discount realized on liquidation of any investment purchased
      at a discount); and

            C. All cash and non-cash proceeds of the collateral described in
      clauses (A) and (B) above.

2.11 The possession by Purchaser or its designee of the Mortgage Notes, the
Mortgages, and such other goods, letters of credit, advices of credit,
instruments, money, documents, chattel paper or certificated securities shall be
deemed to be possession by the secured party or possession by a purchaser for
purposes of perfecting the security interest pursuant to the Uniform Commercial
Code (including, without limitation, Section 9-313 thereof) as in force in the
relevant jurisdiction. Notwithstanding the foregoing, Seller makes no
representation or warranty as to the perfection of any such security interest.

2.12 Notifications to Persons holding such property, and acknowledgments,
receipts, or confirmations from persons holding such property, shall be deemed
to be notifications to, or acknowledgments, receipts or confirmations from,
securities intermediaries, bailees or agents of, or Persons holding for,
Purchaser or its designee, as applicable, for the purpose of perfecting such
security interest under applicable law.

2.13 Seller shall, to the extent consistent with this Agreement, take such
reasonable actions as may be necessary to ensure that, if this Agreement were
deemed to create a security interest in the property described above, such
security interest would be deemed to be a perfected security interest of first
priority under applicable law and will be maintained as such throughout the term
of this Agreement. In such case, Seller shall file all filings necessary to
maintain the effectiveness of any original filings necessary under the Uniform
Commercial Code as in effect in any jurisdiction to perfect such security
interest in such property. In connection herewith, Purchaser shall have all of
the rights and remedies of a secured party and creditor under the Uniform
Commercial Code as in force in the relevant jurisdiction.

2.14 Notwithstanding anything to the contrary contained herein, and subject to
Section 2.1 hereof, Purchaser shall not be required to purchase any Mortgage
Loan as to which any Mortgage Note (endorsed as described in clause 2.2.1)
required to be delivered to or on behalf of the Trustee or the Master Servicer
pursuant to this Section 2 on or before the Closing Date is not so delivered, or
is not properly executed or is defective on its face, and Purchaser's acceptance
of the related Mortgage Loan on the Closing Date shall in no way constitute a
waiver of such omission or defect or of Purchaser's or its successors' and
assigns' rights in respect thereof pursuant to Section 5 hereof.

3.    EXAMINATION OF MORTGAGE FILES AND DUE DILIGENCE REVIEW.

3.1 Seller shall (i) deliver to Purchaser on or before the Closing Date a
diskette acceptable to Purchaser that contains such information about the
Mortgage Loans as may be reasonably

                                       10
<PAGE>

requested by Purchaser, (ii) deliver to Purchaser investor files (collectively
the "Collateral Information") with respect to the assets proposed to be included
in the Mortgage Pool and made available at Purchaser's headquarters in New York,
and (iii) otherwise cooperate fully with Purchaser in its examination of the
credit files, underwriting documentation and Mortgage Files for the Mortgage
Loans and its due diligence review of the Mortgage Loans. The fact that
Purchaser has conducted or has failed to conduct any partial or complete
examination of the credit files, underwriting documentation or Mortgage Files
for the Mortgage Loans shall not affect the right of Purchaser or the Trustee to
cause Seller to cure any Material Document Defect or Material Breach (each as
defined below), or to repurchase or replace the defective Mortgage Loans
pursuant to Section 5 hereof.

3.2 On or prior to the Closing Date, Seller shall allow representatives of any
of Purchaser, each Underwriter, each Initial Purchaser, the Trustee, the Special
Servicer and each Rating Agency to examine and audit all books, records and
files pertaining to the Mortgage Loans, Seller's underwriting procedures and
Seller's ability to perform or observe all of the terms, covenants and
conditions of this Agreement. Such examinations and audits shall take place at
one or more offices of Seller during normal business hours and shall not be
conducted in a manner that is disruptive to Seller's normal business operations
upon reasonable prior advance notice. In the course of such examinations and
audits, Seller will make available to such representatives of any of Purchaser,
each Underwriter, each Initial Purchaser, the Trustee, the Special Servicer and
each Rating Agency reasonably adequate facilities, as well as the assistance of
a sufficient number of knowledgeable and responsible individuals who are
familiar with the Mortgage Loans and the terms of this Agreement, and Seller
shall cooperate fully with any such examination and audit in all material
respects. On or prior to the Closing Date, Seller shall provide Purchaser with
all material information regarding Seller's financial condition and access to
knowledgeable financial or accounting officers for the purpose of answering
questions with respect to Seller's financial condition, financial statements as
provided to Purchaser or other developments affecting Seller's ability to
consummate the transactions contemplated hereby or otherwise affecting Seller in
any material respect. Within 45 days after the Closing Date, Seller shall
provide the Master Servicer or Primary Servicer, if applicable, with any
additional information identified by the Master Servicer or Primary Servicer, if
applicable, as necessary to complete the CMSA Property File, to the extent that
such information is available.

3.3 Purchaser may exercise any of its rights hereunder through one or more
designees or agents, provided Purchaser has provided Seller with prior notice of
the identity of such designee or agent.

3.4 Purchaser shall keep confidential any information regarding Seller and the
Mortgage Loans that has been delivered into Purchaser's possession and that is
not otherwise publicly available; provided, however, that such information shall
not be kept confidential (and the right to require confidentiality under any
confidentiality agreement is hereby waived) to the extent such information is
required to be included in the Free Writing Prospectus, the Memorandum or the
Prospectus Supplement or Purchaser is required by law or court order to disclose
such information. If Purchaser is required to disclose in the Free Writing
Prospectus, the Memorandum or the Prospectus Supplement confidential information
regarding Seller as described in the preceding sentence, Purchaser shall provide
to Seller a copy of the proposed form of such disclosure prior to making such
disclosure and Seller shall promptly, and in any

                                       11
<PAGE>

event within two Business Days, notify Purchaser of any inaccuracies therein, in
which case Purchaser shall modify such form in a manner that corrects such
inaccuracies. If Purchaser is required by law or court order to disclose
confidential information regarding Seller as described in the second preceding
sentence, Purchaser shall notify Seller and cooperate in Seller's efforts to
obtain a protective order or other reasonable assurance that confidential
treatment will be accorded such information and, if in the absence of a
protective order or such assurance, Purchaser is compelled as a matter of law to
disclose such information, Purchaser shall, prior to making such disclosure,
advise and consult with Seller and its counsel as to such disclosure and the
nature and wording of such disclosure and Purchaser shall use reasonable efforts
to obtain confidential treatment therefor. Notwithstanding the foregoing, if
reasonably advised by counsel that Purchaser is required by a regulatory agency
or court order to make such disclosure immediately, then Purchaser shall be
permitted to make such disclosure without prior review by Seller.

4. REPRESENTATIONS, WARRANTIES AND COVENANTS OF SELLER AND PURCHASER.

4.1 To induce Purchaser to enter into this Agreement, Seller hereby makes for
the benefit of Purchaser and its assigns with respect to each Mortgage Loan as
of the date hereof (or as of such other date specifically set forth in the
particular representation and warranty) each of the representations and
warranties set forth on Exhibit 2 hereto, except as otherwise set forth on
Schedule A attached hereto, and hereby further represents, warrants and
covenants to Purchaser as of the date hereof that:

      4.1.1 Seller is duly organized and is validly existing as a national
banking association in good standing under the laws of the United States. Seller
has the requisite power and authority and legal right to own the Mortgage Loans
and to transfer and convey the Mortgage Loans to Purchaser and has the requisite
power and authority to execute and deliver, engage in the transactions
contemplated by, and perform and observe the terms and conditions of, this
Agreement.

      4.1.2 This Agreement has been duly and validly authorized, executed and
delivered by Seller, and assuming the due authorization, execution and delivery
hereof by Purchaser, this Agreement constitutes the valid, legal and binding
agreement of Seller, enforceable in accordance with its terms, except as such
enforcement may be limited by (A) laws relating to bankruptcy, insolvency,
reorganization, receivership or moratorium, (B) other laws relating to or
affecting the rights of creditors generally, (C) general equity principles
(regardless of whether such enforcement is considered in a proceeding in equity
or at law) or (D) public policy considerations underlying the securities laws,
to the extent that such public policy considerations limit the enforceability of
the provisions of this Agreement that purport to provide indemnification from
liabilities under applicable securities laws.

      4.1.3 No consent, approval, authorization or order of, registration or
filing with, or notice to, any governmental authority or court is required,
under federal or state law, for the execution, delivery and performance of or
compliance by Seller with this Agreement, or the consummation by Seller of any
transaction contemplated hereby, other than (A) such

                                       12
<PAGE>

qualifications as may be required under state securities or blue sky laws, (B)
the filing or recording of financing statements, instruments of assignment and
other similar documents necessary in connection with Seller's sale of the
Mortgage Loans to Purchaser, (C) such consents, approvals, authorizations,
qualifications, registrations, filings or notices as have been obtained and (D)
where the lack of such consent, approval, authorization, qualification,
registration, filing or notice would not have a material adverse effect on the
performance by Seller under this Agreement.

      4.1.4 Neither the transfer of the Mortgage Loans to Purchaser, nor the
execution, delivery or performance of this Agreement by Seller, conflicts or
will conflict with, results or will result in a breach of, or constitutes or
will constitute a default under (A) any term or provision of Seller's articles
of organization or by-laws, (B) any term or provision of any material agreement,
contract, instrument or indenture to which Seller is a party or by which it or
any of its assets is bound or results in the creation or imposition of any lien,
charge or encumbrance upon any of its property pursuant to the terms of any such
indenture, mortgage, contract or other instrument, other than pursuant to this
Agreement, or (C) after giving effect to the consents or taking of the actions
contemplated in Section 4.1.3 hereof, any law, rule, regulation, order,
judgment, writ, injunction or decree of any court or governmental authority
having jurisdiction over Seller or its assets, except where in any of the
instances contemplated by clauses (B) or (C) above, any conflict, breach or
default, or creation or imposition of any lien, charge or encumbrance, will not
have a material adverse effect on the consummation of the transactions
contemplated hereby by Seller or its ability to perform its obligations and
duties hereunder or result in any material adverse change in the business,
operations, financial condition, properties or assets of Seller, or in any
material impairment of the right or ability of Seller to carry on its business
substantially as now conducted.

      4.1.5 There are no actions or proceedings against, or investigations of,
Seller pending or, to Seller's knowledge, threatened in writing against Seller
before any court, administrative agency or other tribunal, the outcome of which
could reasonably be expected to materially and adversely affect the transfer of
the Mortgage Loans to Purchaser or the execution or delivery by, or
enforceability against, Seller of this Agreement or have an effect on the
financial condition of Seller that would materially and adversely affect the
ability of Seller to perform its obligations under this Agreement.

      4.1.6 On the Closing Date, the sale of the Mortgage Loans pursuant to this
Agreement will effect a transfer by Seller of all of its right, title and
interest in and to the Mortgage Loans to Purchaser.

      4.1.7 To Seller's knowledge, Seller's Information (as defined in that
certain indemnification agreement, dated April 5, 2007, between Seller,
Purchaser, the Underwriters and the Initial Purchasers (the "Indemnification
Agreement")) does not contain any untrue statement of a material fact or omit to
state a material fact necessary to make the statements therein, in the light of
the circumstances under which they were made, not misleading. Notwithstanding
anything contained herein to the contrary, this subparagraph 4.1.7 shall run
exclusively to the benefit of Purchaser and no other party.

                                       13
<PAGE>

      4.1.8 The Seller has complied with the disclosure requirements of
Regulation AB that arise from its role as "originator" and "sponsor" in
connection with the issuance of the Public Certificates.

      4.1.9 For so long as the Trust is subject to the reporting requirements of
the Exchange Act, the Seller shall provide the Purchaser (or with respect to any
Serviced Companion Mortgage Loan that is deposited into an Other Securitization,
the depositor in such Other Securitization) and the Paying Agent with any
Additional Form 10-D Disclosure and any Additional Form 10-K Disclosure set
forth next to the Seller's name on Schedule XV and Schedule XVI of the Pooling
and Servicing Agreement within the time periods and in accordance with the
provisions set forth in the Pooling and Servicing Agreement.

To induce Purchaser to enter into this Agreement, Seller hereby covenants that
the foregoing representations and warranties and those set forth on Exhibit 2
hereto, subject to the exceptions set forth in Schedule A to Exhibit 2, will be
true and correct in all material respects on and as of the Closing Date with the
same effect as if made on the Closing Date.

Each of the representations, warranties and covenants made by Seller pursuant to
this Section 4.1 shall survive the sale of the Mortgage Loans and shall continue
in full force and effect notwithstanding any restrictive or qualified
endorsement on the Mortgage Notes.

4.2 To induce Seller to enter into this Agreement, Purchaser hereby represents
and warrants to Seller as of the date hereof:

      4.2.1 Purchaser is a corporation duly organized, validly existing, and in
good standing under the laws of the State of Delaware with full power and
authority to carry on its business as presently conducted by it.

      4.2.2 Purchaser has full power and authority to acquire the Mortgage
Loans, to execute and deliver this Agreement and to enter into and consummate
all transactions contemplated by this Agreement. Purchaser has duly and validly
authorized the execution, delivery and performance of this Agreement and has
duly and validly executed and delivered this Agreement. This Agreement, assuming
due authorization, execution and delivery by Seller, constitutes the valid and
binding obligation of Purchaser, enforceable against it in accordance with its
terms, except as such enforceability may be limited by bankruptcy, insolvency,
reorganization, moratorium and other similar laws affecting the enforcement of
creditors' rights generally and by general principles of equity, regardless of
whether such enforcement is considered in a proceeding in equity or at law.

      4.2.3 No consent, approval, authorization or order of, registration or
filing with, or notice to, any governmental authority or court is required,
under federal or state law, for the execution, delivery and performance of or
compliance by Purchaser with this Agreement, or the consummation by Purchaser of
any transaction contemplated hereby that has not been obtained or made by
Purchaser.

      4.2.4 Neither the purchase of the Mortgage Loans nor the execution,
delivery and performance of this Agreement by Purchaser will violate Purchaser's
certificate of incorporation

                                       14
<PAGE>

or by-laws or constitute a default (or an event that, with notice or lapse of
time or both, would constitute a default) under, or result in a breach of, any
material agreement, contract, instrument or indenture to which Purchaser is a
party or that may be applicable to Purchaser or its assets.

      4.2.5 Purchaser's execution and delivery of this Agreement and its
performance and compliance with the terms of this Agreement will not constitute
a violation of any law, rule, writ, injunction, order or decree of any court, or
order or regulation of any federal, state or municipal government agency having
jurisdiction over Purchaser or its assets, which violation could materially and
adversely affect the condition (financial or otherwise) or the operation of
Purchaser or its assets or could materially and adversely affect its ability to
perform its obligations and duties hereunder.

      4.2.6 There are no actions or proceedings against, or investigations of,
Purchaser pending or, to Purchaser's knowledge, threatened against Purchaser
before any court, administrative agency or other tribunal, the outcome of which
could reasonably be expected to adversely affect the transfer of the Mortgage
Loans, the issuance of the Certificates, the execution, delivery or
enforceability of this Agreement or have an effect on the financial condition of
Purchaser that would materially and adversely affect the ability of Purchaser to
perform its obligation under this Agreement.

      4.2.7 Purchaser has not dealt with any broker, investment banker, agent or
other person, other than Seller, the Underwriters, the Initial Purchasers and
their respective affiliates, that may be entitled to any commission or
compensation in connection with the sale of the Mortgage Loans or consummation
of any of the transactions contemplated hereby.

To induce Seller to enter into this Agreement, Purchaser hereby covenants that
the foregoing representations and warranties will be true and correct in all
material respects on and as of the Closing Date with the same effect as if made
on the Closing Date.

Each of the representations and warranties made by Purchaser pursuant to this
Section 4.2 shall survive the purchase of the Mortgage Loans.

5. REMEDIES UPON BREACH OF REPRESENTATIONS AND WARRANTIES MADE BY SELLER.

5.1 It is hereby acknowledged that Seller shall make for the benefit of the
Trustee on behalf of the holders of the Certificates, whether directly or by way
of Purchaser's assignment of its rights hereunder to the Trustee, the
representations and warranties set forth on Exhibit 2 hereto (each as of the
date hereof unless otherwise specified).

5.2 It is hereby further acknowledged that if any document required to be
delivered to the Trustee pursuant to Section 2 hereof is not delivered as and
when required, not properly executed or is defective on its face, or if there is
a breach of any of the representations and warranties required to be made by
Seller regarding the characteristics of the Mortgage Loans and/or the related
Mortgaged Properties as set forth in Exhibit 2 hereto, and in either case the
party discovering such breach or defect determines that either (i) the defect or
breach materially and adversely affects the interests of the holders of the
Certificates in the related Mortgage Loan or

                                       15
<PAGE>

(ii) both (A) the defect or breach materially and adversely affects the value of
the Mortgage Loan and (B) the Mortgage Loan is a Specially Serviced Mortgage
Loan or Rehabilitated Mortgage Loan (any such defect described in the preceding
clause (i) or (ii), a "Material Document Defect" and any such breach described
in the preceding clause (i) or (ii), a "Material Breach"), the party determining
that such Material Document Defect or Material Breach exists shall promptly
notify, in writing, the other parties; provided that any breach of the
representation and warranty contained in paragraph (41) of such Exhibit 2 shall
constitute a Material Breach only if such prepayment premium or yield
maintenance charge is not deemed "customary" for commercial mortgage loans as
evidenced by (i) an opinion of tax counsel to such effect or (ii) a
determination by the Internal Revenue Service that such provision is not
customary. Promptly (but in any event within three Business Days) upon
determining (or becoming aware of another party's determination) that any such
Material Document Defect or Material Breach exists (which determination shall,
absent evidence to the contrary, be presumed to be no earlier than three
Business Days prior to delivery of the notice to Seller referred to below), the
Master Servicer shall, and the Special Servicer may, request that Seller, not
later than 90 days from Seller's receipt of the notice of such Material Document
Defect or Material Breach, cure such Material Document Defect or Material
Breach, as the case may be, in all material respects; provided, however, that if
such Material Document Defect or Material Breach, as the case may be, cannot be
corrected or cured in all material respects within such 90 day period, and such
Material Document Defect or Material Breach would not cause the Mortgage Loan to
be other than a "qualified mortgage" (as defined in the Code) but Seller is
diligently attempting to effect such correction or cure, as certified by Seller
in an Officer's Certificate delivered to the Trustee, then the cure period will
be extended for an additional 90 days unless, solely in the case of a Material
Document Defect, (x) the Mortgage Loan is then a Specially Serviced Mortgage
Loan and a Servicing Transfer Event has occurred as a result of a monetary
default or as described in clause (ii) or clause (v) of the definition of
"Servicing Transfer Event" in the Pooling and Servicing Agreement and (y) the
Material Document Defect was identified in a certification delivered to Seller
by the Trustee pursuant to Section 2.2 of the Pooling and Servicing Agreement
not less than 90 days prior to the delivery of the notice of such Material
Document Defect. The parties acknowledge that neither delivery of a
certification or schedule of exceptions to Seller pursuant to Section 2.2 of the
Pooling and Servicing Agreement or otherwise nor possession of such
certification or schedule by Seller shall, in and of itself, constitute delivery
of notice of any Material Document Defect or knowledge or awareness by Seller,
the Master Servicer or the Special Servicer of any Material Document Defect
listed therein.

5.3 Seller hereby covenants and agrees that, if any such Material Document
Defect or Material Breach cannot be corrected or cured or Seller otherwise fails
to correct or cure within the above cure periods, Seller shall, on or before the
termination of such cure periods, either (i) repurchase the affected Mortgage
Loan or REO Mortgage Loan (or interest therein) from Purchaser or its assignee
at the Purchase Price as defined in the Pooling and Servicing Agreement, or (ii)
if within the three-month period commencing on the Closing Date (or within the
two-year period commencing on the Closing Date if the related Mortgage Loan is a
"defective obligation" within the meaning of Section 860G(a)(4)(B)(ii) of the
Code and Treasury Regulation Section 1.860G-2(f)), at its option replace,
without recourse, any Mortgage Loan or REO Mortgage Loan to which such defect
relates with a Qualifying Substitute Mortgage Loan. If such Material Document
Defect or Material Breach would cause the Mortgage Loan to be

                                       16
<PAGE>

other than a "qualified mortgage" (as defined in the Code), then notwithstanding
the previous sentence or the previous paragraph, repurchase must occur within 85
days from the date Seller was notified of the defect. Seller agrees that any
substitution shall be completed in accordance with the terms and conditions of
the Pooling and Servicing Agreement.

5.4 If (x) a Mortgage Loan is to be repurchased or replaced as contemplated
above (a "Defective Mortgage Loan"), (y) such Defective Mortgage Loan is
cross-collateralized and cross-defaulted with one or more other Mortgage Loans
("Crossed Mortgage Loans") and (z) the applicable document defect or breach does
not constitute a Material Document Defect or Material Breach, as the case may
be, as to such Crossed Mortgage Loans (without regard to this paragraph), then
the applicable document defect or breach (as the case may be) shall be deemed to
constitute a Material Document Defect or Material Breach, as the case may be, as
to each such Crossed Mortgage Loan for purposes of the above provisions, and
Seller shall be obligated to repurchase or replace each such Crossed Mortgage
Loan in accordance with the provisions above, unless, in the case of such breach
or document defect, (A) Seller provides a Nondisqualification Opinion to the
Trustee at the expense of Seller if, in the reasonable business judgment of the
Trustee, it would be usual and customary in accordance with industry practice to
obtain a Nondisqualification Opinion and (B) both of the following conditions
would be satisfied if Seller were to repurchase or replace only those Mortgage
Loans as to which a Material Breach or Material Document Defect had occurred
without regard to this paragraph (the "Affected Loan(s)"): (i) the debt service
coverage ratio for all those Crossed Mortgage Loans (excluding the Affected
Loan(s)) for the four calendar quarters immediately preceding the repurchase or
replacement is not less than the lesser of (A) 0.10x below the debt service
coverage ratio for all such Crossed Mortgage Loans (including the Affected
Loans(s)) set forth in Appendix II to the Final Prospectus Supplement and (B)
the debt service coverage ratio for all such Crossed Mortgage Loans (including
the Affected Loan(s)) for the four preceding calendar quarters preceding the
repurchase or replacement, and (ii) the loan-to-value ratio for all such Crossed
Mortgage Loans (excluding the Affected Loan(s)) is not greater than the greater
of (A) the loan-to-value ratio, expressed as a whole number (taken to one
decimal place), for all such Crossed Mortgage Loans (including the Affected
Loan(s)) set forth in Appendix II to the Final Prospectus Supplement plus 10%
and (B) the loan-to-value ratio for all such Crossed Mortgage Loans (including
the Affected Loans(s)), at the time of repurchase or replacement. The
determination of the Master Servicer as to whether the conditions set forth
above have been satisfied shall be conclusive and binding in the absence of
manifest error. The Master Servicer will be entitled to cause to be delivered,
or direct Seller to (in which case Seller shall) cause to be delivered to the
Master Servicer, an Appraisal of any or all of the related Mortgaged Properties
for purposes of determining whether the condition set forth in clause (ii) above
has been satisfied, in each case at the expense of Seller if the scope and cost
of the Appraisal is approved by Seller (such approval not to be unreasonably
withheld).

5.5 With respect to any Defective Mortgage Loan, to the extent that Seller is
required to repurchase or substitute for such Defective Mortgage Loan (each, a
"Repurchased Loan") in the manner prescribed above while the Trustee (as
assignee of Purchaser) continues to hold any Crossed Mortgage Loan, Seller and
Purchaser hereby agree to forebear from enforcing any remedies against the
other's Primary Collateral but may exercise remedies against the Primary
Collateral securing their respective Mortgage Loans, including with respect to
the Trustee, the Primary Collateral securing the Mortgage Loans still held by
the Trustee, so long as such

                                       17
<PAGE>

exercise does not impair the ability of the other party to exercise its remedies
against its Primary Collateral. If the exercise of remedies by one party would
impair the ability of the other party to exercise its remedies with respect to
the Primary Collateral securing the Mortgage Loan or Mortgage Loans held by such
party, then both parties shall forbear from exercising such remedies until the
loan documents evidencing and securing the relevant Mortgage Loans can be
modified in a manner that complies with the Pooling and Servicing Agreement to
remove the threat of impairment as a result of the exercise of remedies. Any
reserve or other cash collateral or letters of credit securing the Crossed
Mortgage Loans shall be allocated between such Mortgage Loans in accordance with
the Mortgage Loan documents, or otherwise on a pro rata basis based upon their
outstanding Principal Balances. All other terms of the Mortgage Loans shall
remain in full force and effect, without any modification thereof. The
Mortgagors set forth on Schedule B hereto are intended third-party beneficiaries
of the provisions set forth in this paragraph and the preceding paragraph. The
provisions of this paragraph and the preceding paragraph may not be modified
with respect to any Mortgage Loan without the related Mortgagor's consent.

5.6 Any of the following document defects shall be conclusively presumed
materially and adversely to affect the interests of Certificateholders in a
Mortgage Loan and be a Material Document Defect: (a) the absence from the
Mortgage File of the original signed Mortgage Note, unless the Mortgage File
contains a signed lost note affidavit and indemnity that appears to be regular
on its face; (b) the absence from the Mortgage File of the original signed
Mortgage that appears to be regular on its face, unless there is included in the
Mortgage File a certified copy of the Mortgage by the local authority with which
the Mortgage was recorded; or (c) the absence from the Mortgage File of the item
specified in paragraph 2.2.8. If any of the foregoing Material Document Defects
is discovered by the Custodian (or the Trustee if there is no Custodian), the
Trustee (or as set forth in Section 2.3(a) of the Pooling and Servicing
Agreement, the Master Servicer) will take the steps described elsewhere in this
Section, including the giving of notices to the Rating Agencies and the parties
hereto and making demand upon Seller for the cure of the Material Document
Defect or repurchase or replacement of the related Mortgage Loan.

5.7 If Seller disputes that a Material Document Defect or Material Breach exists
with respect to a Mortgage Loan or otherwise refuses (i) to effect a correction
or cure of such Material Document Defect or Material Breach, (ii) to repurchase
the affected Mortgage Loan from Purchaser or its assignee or (iii) to replace
such Mortgage Loan with a Qualifying Substitute Mortgage Loan, each in
accordance with this Agreement, then provided that (x) the period of time
provided for Seller to correct, repurchase or cure has expired and (y) the
Mortgage Loan is then in default and is then a Specially Serviced Mortgage Loan,
the Special Servicer may, subject to the Servicing Standard, modify, work-out or
foreclose, sell or otherwise liquidate (or permit the liquidation of) the
Mortgage Loan pursuant to Sections 9.5, 9.12, 9.15 and 9.36, as applicable, of
the Pooling and Servicing Agreement, while pursuing the repurchase claim. Seller
acknowledges and agrees that any modification of the Mortgage Loan pursuant to a
work-out shall not constitute a defense to any repurchase claim nor shall such
modification and work-out change the Purchase Price due from Seller for any
repurchase claim. In the event of any such modification and work-out, Seller
shall be obligated to repurchase the Mortgage Loan as modified and the Purchase
Price shall include any Work-Out Fee paid to the Special Servicer up to the date
of repurchase plus the present value (calculated at a discount rate equal to the
applicable Mortgage Rate) of the Work-Out Fee that would have been payable to
the Special

                                       18
<PAGE>

Servicer in respect of such Mortgage Loan if the Mortgage Loan performed in
accordance with its terms to its Maturity Date, provided that no amount shall be
paid by Seller in respect of any Work-Out Fee if a Liquidation Fee already
comprises a portion of the Purchase Price.

5.8 Seller shall have the right to purchase certain of the Mortgage Loans or REO
Properties, as applicable, in accordance with Section 9.36 of the Pooling and
Servicing Agreement.

5.9 The fact that a Material Document Defect or Material Breach is not
discovered until after foreclosure (but in all instances prior to the sale of
the related REO Property or Mortgage Loan) shall not prejudice any claim against
Seller for repurchase of the REO Mortgage Loan or REO Property. In such an
event, the Master Servicer shall notify Seller of the discovery of the Material
Document Defect or Material Breach and Seller shall have 90 days to correct or
cure such Material Document Defect or Material Breach or purchase the REO
Property (or interest therein) at the Purchase Price. After a final liquidation
of the Mortgage Loan or REO Mortgage Loan, if a court of competent jurisdiction
issues a final order after the expiration of any applicable appeal period that
Seller is or was obligated to repurchase the related Mortgage Loan or REO
Mortgage Loan (or interest therein) (a "Final Judicial Determination") or Seller
otherwise accepts liability, then, but in no event later than the Termination of
the Trust pursuant to Section 9.30 of the Pooling and Servicing Agreement,
Seller will be obligated to pay to the Trust the difference between any
Liquidation Proceeds received upon such liquidation in accordance with the
Pooling and Servicing Agreement (including those arising from any sale to
Seller) and the Purchase Price.

5.10 Notwithstanding anything to the contrary contained herein, in connection
with any sale or other liquidation of a Mortgage Loan or REO Property as
described in this Section 5, the Special Servicer shall not receive a
Liquidation Fee from Seller (but may collect such Liquidation Fee from the
related Liquidation Proceeds as otherwise provided herein); provided, however,
that in the event Seller is obligated to repurchase the Mortgage Loan or REO
Mortgaged Property (or interest therein) after a final liquidation of such
Mortgage Loan or REO Property pursuant to the immediately preceding paragraph,
an amount equal to any Liquidation Fee (calculated on the basis of Liquidation
Proceeds) payable to the Special Servicer shall be included in the definition of
"Purchase Price" in respect of such Mortgage Loan or REO Mortgaged Property.
Except as expressly set forth above, no Liquidation Fee shall be payable in
connection with a repurchase of a Mortgage Loan by Seller.

5.11 The obligations of Seller set forth in this Section 5 to cure a Material
Document Defect or a Material Breach or repurchase or replace a defective
Mortgage Loan constitute the sole remedies of Purchaser or its assignees with
respect to a Material Document Defect or Material Breach in respect of an
outstanding Mortgage Loan; provided, that this limitation shall not in any way
limit Purchaser's rights or remedies upon breach of any other representation or
warranty or covenant by Seller set forth in this Agreement (other than those set
forth in Exhibit 2).

5.12 Notwithstanding the foregoing, in the event that there is a breach of the
representations and warranties set forth in paragraph 39 in Exhibit 2 hereto,
and as a result the payments, by a Mortgagor, of reasonable costs and expenses
associated with the defeasance or assumption of a Mortgage Loan are insufficient
causing the Trust to incur an Additional Trust Expense in an amount equal to
such reasonable costs and expenses not paid by such Mortgagor, Seller hereby

                                       19
<PAGE>

covenants and agrees to reimburse the Trust within 90 days of the receipt of
notice of such breach in an amount sufficient to avoid such Additional Trust
Expense. The parties hereto acknowledge that such reimbursement shall be
Seller's sole obligation with respect to the breach discussed in the previous
sentence.

5.13 The Pooling and Servicing Agreement shall provide that the Trustee (or the
Master Servicer or the Special Servicer on its behalf) shall give written notice
promptly (but in any event within three Business Days) to Seller of its
determination that any Material Document Defect or Material Breach exists (which
determination shall, absent evidence to the contrary, be presumed to be no
earlier than three Business Days prior to delivery of the notice) and prompt
written notice to Seller in the event that any Mortgage Loan becomes a Specially
Serviced Mortgage Loan (as defined in the Pooling and Servicing Agreement).

5.14 If Seller repurchases any Mortgage Loan pursuant to this Section 5,
Purchaser or its assignee, following receipt by the Trustee of the Purchase
Price therefor, promptly shall deliver or cause to be delivered to Seller all
Mortgage Loan documents with respect to such Mortgage Loan, and each document
that constitutes a part of the Mortgage File that was endorsed or assigned to
the Trustee shall be endorsed and assigned to Seller in the same manner such
that Seller shall be vested with legal and beneficial title to such Mortgage
Loan, in each case without recourse, including any property acquired in respect
of such Mortgage Loan or proceeds of any insurance policies with respect
thereto.

6. CLOSING.

6.1 The closing of the sale of the Mortgage Loans shall be held at the offices
of Latham & Watkins LLP, 885 Third Avenue, New York, NY 10022 at 9:00 a.m., New
York time, on the Closing Date. The closing shall be subject to each of the
following conditions:

      6.1.1 All of the representations and warranties of Seller and Purchaser
specified in Section 4 hereof (including, without limitation, the
representations and warranties set forth on Exhibit 2 hereto) shall be true and
correct as of the Closing Date (to the extent of the standard, if any, set forth
in each representation and warranty).

      6.1.2 All Closing Documents specified in Section 7 hereof, in such forms
as are agreed upon and reasonably acceptable to Seller or Purchaser, as
applicable, shall be duly executed and delivered by all signatories as required
pursuant to the respective terms thereof.

      6.1.3 Seller shall have delivered and released to Purchaser or its
designee all documents required to be delivered to Purchaser as of the Closing
Date pursuant to Section 2 hereof.

      6.1.4 The result of the examination and audit performed by Purchaser and
its affiliates pursuant to Section 3 hereof shall be satisfactory to Purchaser
and its affiliates in their sole determination and the parties shall have agreed
to the form and contents of Seller's Information to be disclosed in the Free
Writing Prospectus, the Memorandum and the Prospectus Supplement.

                                       20
<PAGE>

      6.1.5 All other terms and conditions of this Agreement required to be
complied with on or before the Closing Date shall have been complied with, and
Seller and Purchaser shall have the ability to comply with all terms and
conditions and perform all duties and obligations required to be complied with
or performed after the Closing Date.

      6.1.6 Seller shall have paid all fees and expenses payable by it to
Purchaser pursuant to Section 8 hereof.

      6.1.7 The Certificates to be so rated shall have been assigned ratings by
each Rating Agency no lower than the ratings specified for each such Class in
the Memorandum and the Prospectus Supplement.

      6.1.8 No Underwriter shall have terminated the Underwriting Agreement and
none of the Initial Purchasers shall have terminated the Certificate Purchase
Agreement, and neither the Underwriters nor the Initial Purchasers shall have
suspended, delayed or otherwise cancelled the Closing Date.

      6.1.9 Seller shall have received the purchase price for the Mortgage Loans
pursuant to Section 1 hereof.

6.2 Each party agrees to use its best efforts to perform its respective
obligations hereunder in a manner that will enable Purchaser to purchase the
Mortgage Loans on the Closing Date.

7. CLOSING DOCUMENTS. The Closing Documents shall consist of the following:

7.1 This Agreement duly executed by Purchaser and Seller.

7.2 A certificate of Seller, executed by a duly authorized officer of Seller and
dated the Closing Date, and upon which Purchaser and its successors and assigns
may rely, to the effect that: (i) the representations and warranties of Seller
in this Agreement are true and correct in all material respects on and as of the
Closing Date with the same force and effect as if made on the Closing Date,
provided that any representations and warranties made as of a specified date
shall be true and correct as of such specified date; and (ii) Seller has
complied with all agreements and satisfied all conditions on its part to be
performed or satisfied on or prior to the Closing Date.

7.3 True, complete and correct copies of Seller's articles of organization and
by-laws.

7.4 A certificate of existence for Seller from the Comptroller of the Currency
dated not earlier than 30 days prior to the Closing Date.

7.5 A certificate of the Secretary or Assistant Secretary of Seller, dated the
Closing Date, and upon which Purchaser may rely, to the effect that each
individual who, as an officer or representative of Seller, signed this Agreement
or any other document or certificate delivered on or before the Closing Date in
connection with the transactions contemplated herein, was at the respective
times of such signing and delivery, and is as of the Closing Date, duly elected
or appointed, qualified and acting as such officer or representative, and the
signatures of such persons appearing on such documents and certificates are
their genuine signatures.

                                       21
<PAGE>

7.6 An opinion of counsel (which, other than as to the opinion described in
paragraph 7.6.6 below, may be in-house counsel) to Seller, dated the Closing
Date, substantially to the effect of the following (with such changes and
modifications as Purchaser may approve and subject to such counsel's reasonable
qualifications):

      7.6.1 Seller is validly existing under United States law and has full
corporate power and authority to enter into and perform its obligations under
this Agreement.

      7.6.2 This Agreement has been duly authorized, executed and delivered by
Seller.

      7.6.3 No consent, approval, authorization or order of any federal court or
governmental agency or body is required for the consummation by Seller of the
transactions contemplated by the terms of this Agreement except any approvals as
have been obtained.

      7.6.4 Neither the execution, delivery or performance of this Agreement by
Seller, nor the consummation by Seller of any of the transactions contemplated
by the terms of this Agreement (A) conflicts with or results in a breach or
violation of, or constitutes a default under, the organizational documents of
Seller, (B) to the knowledge of such counsel, constitutes a default under any
term or provision of any material agreement, contract, instrument or indenture,
to which Seller is a party or by which it or any of its assets is bound or
results in the creation or imposition of any lien, charge or encumbrance upon
any of its property pursuant to the terms of any such indenture, mortgage,
contract or other instrument, other than pursuant to this Agreement, or (C)
conflicts with or results in a breach or violation of any law, rule, regulation,
order, judgment, writ, injunction or decree of any court or governmental
authority having jurisdiction over Seller or its assets, except where in any of
the instances contemplated by clauses (B) or (C) above, any conflict, breach or
default, or creation or imposition of any lien, charge or encumbrance, will not
have a material adverse effect on the consummation of the transactions
contemplated hereby by Seller or materially and adversely affect its ability to
perform its obligations and duties hereunder or result in any material adverse
change in the business, operations, financial condition, properties or assets of
Seller, or in any material impairment of the right or ability of Seller to carry
on its business substantially as now conducted.

      7.6.5 To his or her knowledge, there are no legal or governmental actions,
investigations or proceedings pending to which Seller is a party, or threatened
against Seller, (a) asserting the invalidity of this Agreement or (b) which
materially and adversely affect the performance by Seller of its obligations
under, or the validity or enforceability of, this Agreement.

      7.6.6 This Agreement is a valid, legal and binding agreement of Seller,
enforceable against Seller in accordance with its terms, except as such
enforcement may be limited by (1) laws relating to bankruptcy, insolvency,
reorganization, receivership or moratorium, (2) other laws relating to or
affecting the rights of creditors generally, (3) general equity principles
(regardless of whether such enforcement is considered in a proceeding in equity
or at law) or (4) public policy considerations underlying the securities laws,
to the extent that such public policy considerations limit the enforceability of
the provisions of this Agreement that purport to provide indemnification from
liabilities under applicable securities laws.

                                       22
<PAGE>

Such opinion may express its reliance as to factual matters on, among other
things specified in such opinion, the representations and warranties made by,
and on certificates or other documents furnished by officers of, the parties to
this Agreement.

In rendering the opinions expressed above, such counsel may limit such opinions
to matters governed by the federal laws of the United States and the corporate
laws of the State of Delaware and the State of New York, as applicable.

7.7 Such other opinions of counsel as any Rating Agency may request in
connection with the sale of the Mortgage Loans by Seller to Purchaser or
Seller's execution and delivery of, or performance under, this Agreement.

7.8 A "10b-5" opinion of counsel addressed to the Purchaser and the
Underwriters, in form reasonably acceptable to Purchaser and the Underwriters,
as to the disclosure provided by Seller to Purchaser in connection with the
Certificates.

7.9 An opinion of counsel addressed to Purchaser and the Underwriters, in form
reasonably acceptable to Purchaser and the Underwriters, that such disclosure
complies as to form with the applicable requirements of Regulation AB with
respect to Seller's role as Sponsor (as defined in Regulation AB) in connection
with the Certificates.

7.10 A letter from Deloitte & Touche, certified public accountants, dated the
date hereof, to the effect that they have performed certain specified procedures
as a result of which they determined that certain information of an accounting,
financial or statistical nature set forth in the Free Writing Prospectus, the
Memorandum and the Prospectus Supplement agrees with the records of Seller.

7.11 Such further certificates, opinions and documents as Purchaser may
reasonably request.

7.12 An officer's certificate of Purchaser, dated as of the Closing Date, with
the resolutions of Purchaser authorizing the transactions described herein
attached thereto, together with certified copies of the charter, by-laws and
certificate of good standing of Purchaser dated not earlier than 30 days prior
to the Closing Date.

7.13 Such other certificates of Purchaser's officers or others and such other
documents to evidence fulfillment of the conditions set forth in this Agreement
as Seller or its counsel may reasonably request.

7.14 An executed Bill of Sale in the form attached hereto as Exhibit 3.

8. COSTS. Seller shall pay Purchaser the costs and expenses as agreed upon by
Seller and Purchaser in a separate Letter of Understanding entered into in
connection with this Agreement and the issuance of the Certificates.

9. NOTICES. All communications provided for or permitted hereunder shall be in
writing and shall be deemed to have been duly given if (a) personally delivered,
(b) mailed by registered

                                       23
<PAGE>

or certified mail, postage prepaid and received by the addressee, (c) sent by
express courier delivery service and received by the addressee, or (d)
transmitted by telex or facsimile transmission (or any other type of electronic
transmission agreed upon by the parties) and confirmed by a writing delivered by
any of the means described in (a), (b) or (c), if (i) to Purchaser, addressed to
address to Bear Stearns Commercial Mortgage Securities Inc., 383 Madison Avenue,
New York, New York 10179, Attention: J. Christopher Hoeffel, Senior Managing
Director, Commercial Mortgage Department (with a copy to the attention of Joseph
T. Jurkowski, Jr., Managing Director, Legal Department) (or such other address
as may hereafter be furnished in writing by Purchaser), or if (ii) to Seller,
addressed to Seller at Wells Fargo Bank, National Association, 225 West (with a
copy to the attention of Robert F. Darling, Esq., Wells Fargo Bank, National
Association, 633 Folsom Street, 7th Floor, MAC A0149-075, San Francisco,
California 94107) (or such other address as may hereafter be furnished in
writing by such entity). such other address as may hereafter be furnished in
writing by such entity).

10. SEVERABILITY OF PROVISIONS. Any part, provision, representation, warranty or
covenant of this Agreement that is prohibited or that is held to be void or
unenforceable shall be ineffective to the extent of such prohibition or
unenforceability without invalidating the remaining provisions hereof. Any part,
provision, representation, warranty or covenant of this Agreement that is
prohibited or unenforceable or is held to be void or unenforceable in any
jurisdiction shall, as to such jurisdiction, be ineffective to the extent of
such prohibition or unenforceability without invalidating the remaining
provisions hereof, and any such prohibition or unenforceability in any
jurisdiction shall not invalidate or render unenforceable such provision in any
other jurisdiction. To the extent permitted by applicable law, the parties
hereto waive any provision of law that prohibits or renders void or
unenforceable any provision hereof.

11. FURTHER ASSURANCES. Seller and Purchaser each agree to execute and deliver
such instruments and take such actions as the other may, from time to time,
reasonably request in order to effectuate the purpose and to carry out the terms
of this Agreement and the Pooling and Servicing Agreement.

12. SURVIVAL. Each party hereto agrees that the representations, warranties and
agreements made by it herein and in any certificate or other instrument
delivered pursuant hereto shall be deemed to be relied upon by the other party,
notwithstanding any investigation heretofore or hereafter made by the other
party or on its behalf, and that the representations, warranties and agreements
made by such other party herein or in any such certificate or other instrument
shall survive the delivery of and payment for the Mortgage Loans and shall
continue in full force and effect, notwithstanding any restrictive or qualified
endorsement on the Mortgage Notes and notwithstanding subsequent termination of
this Agreement.

13. GOVERNING LAW. THIS AGREEMENT AND THE RIGHTS, DUTIES, OBLIGATIONS AND
RESPONSIBILITIES OF THE PARTIES HERETO SHALL BE GOVERNED BY AND CONSTRUED IN
ACCORDANCE WITH THE INTERNAL LAWS AND DECISIONS OF THE STATE OF NEW YORK. THE
PARTIES HERETO INTEND

                                       24
<PAGE>

THAT THE PROVISIONS OF SECTION 5-1401 OF THE NEW YORK GENERAL OBLIGATIONS LAW
SHALL APPLY TO THIS AGREEMENT.

14. BENEFITS OF MORTGAGE LOAN PURCHASE AGREEMENT. This Agreement shall inure to
the benefit of and shall be binding upon Seller, Purchaser and their respective
successors, legal representatives, and permitted assigns, and nothing expressed
or mentioned in this Agreement is intended or shall be construed to give any
other person any legal or equitable right, remedy or claim under or in respect
of this Agreement, or any provisions herein contained, this Agreement and all
conditions and provisions hereof being intended to be and being for the sole and
exclusive benefit of such persons and for the benefit of no other person except
that the rights and obligations of Purchaser pursuant to Sections 2, 4.1 (other
than clause 4.1.7), 5, 9, 10, 11, 12 and 13 hereof may be assigned to the
Trustee as may be required to effect the purposes of the Pooling and Servicing
Agreement and, upon such assignment, the Trustee shall succeed to the rights and
obligations hereunder of Purchaser. No owner of a Certificate issued pursuant to
the Pooling and Servicing Agreement shall be deemed a successor or permitted
assigns because of such ownership.

15. MISCELLANEOUS. This Agreement may be executed in two or more counterparts,
each of which when so executed and delivered shall be an original, but all of
which together shall constitute one and the same instrument. Neither this
Agreement nor any term hereof may be changed, waived, discharged or terminated
orally, but only by an instrument in writing signed by the party against whom
enforcement of the change, waiver, discharge or termination is sought. The
headings in this Agreement are for purposes of reference only and shall not
limit or otherwise affect the meaning hereof. The rights and obligations of
Seller under this Agreement shall not be assigned by Seller without the prior
written consent of Purchaser, except that any person into which Seller may be
merged or consolidated, or any corporation resulting from any merger, conversion
or consolidation to which Seller is a party, or any person succeeding to the
entire business of Seller shall be the successor to Seller hereunder.

16. ENTIRE AGREEMENT. This Agreement contains the entire agreement and
understanding between the parties hereto with respect to the subject matter
hereof (other than the Letter of Understanding (solely with respect to those
portions of this Agreement that are not assigned to the Trustee), the
Indemnification Agreement and the Pooling and Servicing Agreement), and
supersedes all prior and contemporaneous agreements, understandings, inducements
and conditions, express or implied, oral or written, of any nature whatsoever
with respect to the subject matter hereof. The express terms hereof control and
supersede any course of performance or usage of the trade inconsistent with any
of the terms hereof.

                                       25
<PAGE>

IN WITNESS WHEREOF, Purchaser and Seller have caused this Agreement to be
executed by their respective duly authorized officers as of the date first above
written.

                                    WELLS FARGO BANK NATIONAL ASSOCIATION

                                    By: /s/ Brigid M. Mattingly
                                       ------------------------------------
                                       Name: Brigid M. Mattingly
                                       Title: Managing Director

                                    BEAR STEARNS COMMERCIAL MORTGAGE
                                    SECURITIES INC.

                                    By: /s/ Adam Ansaldi
                                       ------------------------------------
                                       Name: Adam Ansaldi
                                       Title: Vice President

<PAGE>

                                    EXHIBIT 1

                             MORTGAGE LOAN SCHEDULE

o     Mortgage Loan Seller
o     Loan Number
o     Property Name
o     Street Address
o     City
o     State
o     Date of Maturity
o     Cut-off Date Balance
o     Note Date
o     Original Term to Maturity or ARD
o     Remaining Term
o     Original Amortization
o     Rate
o     ARD Loan (Yes/No)

                                      1-1
<PAGE>

<TABLE>
<CAPTION>
Mortgage      Mortgage
Loan Seller   Loan No.   Property Name                                      Street Address
-----------   --------   ------------------------------------------------   --------------------------------------------------
<S>           <C>        <C>                                                <C>
WFB                 13   Regions/Gillette Medical Office                    435 Phalen Blvd.
WFB                 16   MetroNorth Business Center                         74 Commerce Way
WFB                 25   DRA - Lake Emma Corporate Park                     3200-3210 Lake Emma Road
WFB                 26   Sierra Trading Post Fulfillment (B)                5121 Campstool Road
WFB                 27   Sierra Trading Post Admin Building (B)             5025 Campstool Rd
WFB                 28   University Square Apts/Retail                      1600 Warren Street
WFB                 33   Byram Plaza Shopping Center                        Route 206 and Lake Lackawanna Drive
WFB                 44   Gemini Plaza                                       1150 Gemini Street
WFB                 48   Rave Cinemas Baton Rouge                           16040 Hatteras Ave
WFB                 58   Rave Cinemas Pensacola                             6595 North W. St.
WFB                 65   The Regency Suites Hotel                           975 West Peachtree Street
WFB                 66   Provo Craft                                        151 East 3450 North
WFB                 67   Hampton Inn Lexington                              401 E Nelson St.
WFB                 75   1600 Central Avenue                                1600 Central Avenue
WFB                 86   9300 Flair Drive                                   9300 Flair Drive
WFB                 88   Holiday Inn Express Chester                        2 Bryle Place
WFB                 89   Glad Business Park                                 2446-2530 Main Street
                         Tractor Supply Portfolio Roll-Up (III)
WFB                 94   Rave Cinemas Port St. Lucie                        1900 NW Courtyard Circle
WFB                 97   Radisson Hotel Corning                             125 Denison Parkway East
WFB                 99   Western Union                                      13022 Hollenberg Drive
WFB                100   Macomb Centre                                      19700-19800 Hall Road
WFB                101   A-American Lipoa                                   115 East Lipoa Street

<CAPTION>
Mortgage                                                 Cut-Off Date                Original Term   Remaining Term      Original
Loan Seller   City               State   Maturity Date     Balance      Note Date     to Maturity     to Maturity     Amort. Term
-----------   ----------------   -----   -------------   ------------   ----------   -------------   --------------   -----------
<S>           <C>                <C>     <C>             <C>            <C>          <C>             <C>              <C>
WFB           St. Paul            MN      03/01/2017      $27,980,140   02/07/2007             120              119           360
WFB           Woburn              MA      01/01/2014      $26,000,000   12/21/2006              84               81            IO
WFB           Lake Mary           FL      02/01/2012      $18,300,000   01/23/2007              60               58            IO
WFB           Cheyenne            WY      01/01/2012      $11,921,878   12/18/2006              60               57           240
WFB           Cheyenne            WY      01/01/2012       $6,358,335   12/18/2006              60               57           240
WFB           Mankato             MN      03/01/2017      $17,850,000   02/13/2007             120              119           360
WFB           Stanhope            NJ      04/01/2017      $15,500,000   03/08/2007             120              120           360
WFB           Houston             TX      03/01/2012      $12,000,000   02/12/2007              60               59           360
WFB           Baton Rouge         LA      02/01/2017      $11,074,354   01/09/2007             120              118           360
WFB           Pensacola           FL      02/01/2017       $9,677,588   01/12/2007             120              118           360
WFB           Atlanta             GA      02/01/2017       $9,000,000   01/25/2007             120              118           360
WFB           Spanish Fork        UT      05/01/2020       $8,938,055   10/26/2006             162              157           300
WFB           Lexington           VA      04/01/2017       $8,600,000   03/05/2007             120              120           360
WFB           Far Rockaway        NY      02/01/2017       $8,000,000   01/31/2007             120              118           360
WFB           El Monte            CA      03/01/2017       $6,993,825   02/08/2007             120              119           360
WFB           Chester             NY      03/01/2017       $6,700,000   03/01/2007             120              119           360
WFB           Chula Vista         CA      03/01/2017       $6,500,000   02/23/2007             120              119            IO

WFB           Port St. Lucie      FL      02/01/2017       $6,185,675   01/11/2007             120              118           360
WFB           Corning             NY      02/01/2017       $6,086,710   01/31/2007             120              118           360
WFB           Bridgeton           MO      01/01/2017       $6,000,000   12/22/2006             120              117           360
WFB           Clinton Township    MI      02/01/2017       $5,983,694   02/01/2007             120              118           324
WFB           Kihei               HI      01/01/2012       $5,972,716   12/19/2006              60               57           300

<CAPTION>
Mortgage        Remaining
Loan Seller   Amort. Term   ARD Loan
-----------   -----------   --------
<S>           <C>           <C>
WFB                   359     Yes
WFB                    IO      No
WFB                    IO      No
WFB                   237      No
WFB                   237      No
WFB                   360      No
WFB                   360      No
WFB                   360      No
WFB                   358     Yes
WFB                   358     Yes
WFB                   360      No
WFB                   295      No
WFB                   360     Yes
WFB                   360      No
WFB                   359      No
WFB                   360     Yes
WFB                    IO      No

WFB                   358     Yes
WFB                   358      No
WFB                   360     Yes
WFB                   322     Yes
WFB                   297      No
</TABLE>

                                      1-2
<PAGE>

<TABLE>
<CAPTION>
Mortgage      Mortgage
Loan Seller   Loan No.   Property Name                                      Street Address
-----------   --------   ------------------------------------------------   --------------------------------------------------
<S>           <C>        <C>                                                <C>
WFB                110   Holiday Inn Express Abingdon                       940 East Main Street
WFB                115   Brea Mini-Storage                                  502 Apollo Street
WFB                116   Buena Park Business Complex                        6481 Orangethorpe Road and 6940-6980 Aragon Circle
WFB                117   Country Inn Hagerstown                             17612 Valley Mall Rd
WFB                119   North Main Storage                                 1280 North Main Street
WFB                120   Brentwood Country Mart                             225-253 26th Street
WFB                123   Days Inn at Country Club                           333 West Juanita Ave
WFB                124   Victoria Place Center                              3144 - 3240 Broadway Street
WFB                126   The Plaza at Jordan Creek Crossing                 230 S. 68th Street
WFB                131   Ameripath                                          6750 West 52nd Ave.
WFB                136   51 Auto Center Drive                               51 Auto Center Drive
                         Optronics Portfolio Roll-Up (IV)
WFB                137   Optronics - Flora (IV)                             604 First Street
WFB                138   Optronics - Muskogee (IV)                          401 S 41st Street East
WFB                140   American River Drive                               3406-3436 American River Drive
WFB                146   Rainbow Village Las Vegas                          5625 - 5645 S. Rainbow Blvd.
WFB                147   Venice Beach Retail                                321-325 Ocean Front Walk and 5-11 Dudley Avenue
WFB                149   The Elms MHP                                       871 South Main St
WFB                153   Sullivan Moving and Storage                        5704 Copley Drive
WFB                157   Hampton Inn - Clackamas                            9040 SE Adams Street
WFB                160   Reno Airport Center                                1100 East Plumb Lane

<CAPTION>
Mortgage                                                 Cut-Off Date                Original Term   Remaining Term      Original
Loan Seller   City               State   Maturity Date     Balance      Note Date     to Maturity     to Maturity     Amort. Term
-----------   ----------------   -----   -------------   ------------   ----------   -------------   --------------   -----------
<S>           <C>                <C>     <C>             <C>            <C>          <C>             <C>              <C>
WFB           Abingdon            VA      03/01/2017       $5,200,000   02/15/2007             120              119           300
WFB           Brea                CA      03/01/2017       $4,995,465   02/05/2007             120              119           360
WFB           Buena Park          CA      02/01/2017       $4,988,485   12/21/2006             120              118           360
WFB           Hagerstown          MD      01/01/2017       $4,977,657   12/14/2006             120              117           300
WFB           Manteca             CA      02/01/2017       $4,650,000   01/24/2007             120              118           360
WFB           Los Angeles         CA      02/01/2012       $4,500,000   01/02/2007              60               58            IO
WFB           Mesa                AZ      03/01/2017       $4,490,490   02/07/2007             120              119           240
WFB           Eureka              CA      01/01/2017       $4,486,103   12/14/2006             120              117           360
WFB           West Des Moinces    IA      01/01/2017       $4,386,230   12/20/2006             120              117           360
WFB           Arvada              CO      03/01/2017       $4,050,000   02/12/2007             120              119           360
WFB           Irvine              CA      02/01/2017       $3,981,137   01/08/2007             120              118           240

WFB           Flora               MS      02/01/2022       $2,881,349   02/01/2007             180              178           360
WFB           Muskogee            OK      02/01/2022       $1,047,942   02/01/2007             180              178           360
WFB           Sacramento          CA      02/01/2017       $3,741,790   01/22/2007             120              118           360
WFB           Las Vegas           NV      02/01/2017       $3,392,471   01/17/2007             120              118           360
WFB           Venice Beach        CA      02/01/2017       $3,292,716   01/18/2007             120              118           360
WFB           Fon Du Lac          WI      02/01/2017       $3,280,000   01/24/2007             120              118           360
WFB           San Diego           CA      01/01/2017       $3,185,226   12/05/2006             120              117           300
WFB           Clackamas           OR      02/01/2017       $3,091,034   01/16/2007             120              118           300
WFB           Reno                NV      02/01/2017       $3,000,000   01/16/2007             120              118           360

<CAPTION>
Mortgage        Remaining
Loan Seller   Amort. Term   ARD Loan
-----------   -----------   --------
<S>           <C>           <C>
WFB                   300      No
WFB                   359      No
WFB                   358      No
WFB                   297      No
WFB                   360      No
WFB                    IO      No
WFB                   239      No
WFB                   357      No
WFB                   357      No
WFB                   360     Yes
WFB                   238      No

WFB                   358      No
WFB                   358      No
WFB                   358      No
WFB                   358      No
WFB                   358      No
WFB                   360      No
WFB                   297      No
WFB                   298      No
WFB                   360      No
</TABLE>

                                      1-3
<PAGE>

<TABLE>
<CAPTION>
Mortgage      Mortgage
Loan Seller   Loan No.   Property Name                                      Street Address
-----------   --------   ------------------------------------------------   --------------------------------------------------
<S>           <C>        <C>                                                <C>
WFB                162   Midway Industrial Park                             2775 & 2785 Kurtz Street
WFB                163   3636 Birch Street                                  3636 Birch Street
WFB                168   August Supply                                      1575 Adrian Road
WFB                169   Security Public Storage - Sacramento I             3901 Fruitridge Road
WFB                170   North Creek Business Park                          14110-14260 NE 21st St.
WFB                171   Cost Plus - Torrance                               22929 Hawthorne Boulevard
WFB                173   94 - 125 Leokane                                   94 - 125 Leokane St.
WFB                176   Boulevard Walk                                     6330 Lawrenceville Highway 29
WFB                177   Hualapai Village Center                            3370 S. Hualapai Way
WFB                181   Newington Warehouse                                7234 Fullerton Road
WFB                182   Handi Self Storage - Lexington                     160 West Tiverton Way
WFB                186   CVS - Westland, MI                                 6501 North Wayne Road
WFB                187   Farmington Gateway Marketplace                     18350-18500 Pilot Knob Road
WFB                188   Interstate Companies - Grand Forks                 3450 S. 42nd Street
WFB                191   3260 Scott Blvd.                                   3260 Scott Blvd.
WFB                193   Coronado Self Storage                              255 & 845 S. Hill Road; 213 S. Camino Del Pueblo
WFB                196   Harvest Meat Industrial Building                   2901 Eunice Avenue
WFB                198   West Dearborn Apartments                           1265 Monroe & 1312 Porter Street
WFB                201   Premier Self Storage                               6130 Old Greensboro Rd
WFB                202   Magnolia Bend Retail Center                        18423 FM 1488
WFB                204   Alcan NorthAmerican Industrial                     46555 Magellan Drive
WFB                206   Valley View Office Building                        5775 E. Los Angeles Avenue

<CAPTION>
Mortgage                                                  Cut-Off Date                Original Term   Remaining Term      Original
Loan Seller    City               State   Maturity Date     Balance      Note Date     to Maturity     to Maturity     Amort. Term
-----------    ----------------   -----   -------------   ------------   ----------   -------------   --------------   -----------
<S>            <C>                <C>     <C>             <C>            <C>          <C>             <C>              <C>
WFB            San Diego           CA      02/01/2017       $2,993,432   01/22/2007             120              118           360
WFB            Newport Beach       CA      02/01/2017       $2,986,490   12/29/2006             120              118           240
WFB            Burlingame          CA      03/01/2017       $2,747,874   02/14/2007             120              119           360
WFB            Sacramento          CA      02/01/2016       $2,736,375   01/25/2006             120              106           360
WFB            Bellevue            WA      02/01/2017       $2,693,823   01/10/2007             120              118           360
WFB            Torrance            CA      02/01/2017       $2,500,000   12/22/2006             120              118            IO
WFB            Waipahu             HI      01/01/2012       $2,473,303   12/27/2006              60               57           360
WFB            Tucker              GA      01/01/2012       $2,333,253   12/08/2006              60               57           360
WFB            Las Vegas           NV      02/01/2017       $2,295,005   01/05/2007             120              118           360
WFB            Springfield         VA      01/01/2017       $2,200,000   12/11/2006             120              117           360
WFB            Lexington           KY      03/01/2017       $2,200,000   02/01/2007             120              119           360
WFB            Westland            MI      01/01/2017       $2,153,480   12/28/2006             120              117           360
WFB            Farmington          MN      02/01/2017       $2,142,984   01/31/2007             120              118           300
WFB            Grand Forks         ND      01/01/2017       $2,135,937   12/04/2006             120              117           240
WFB            Santa Clara         CA      01/01/2017       $2,093,637   12/13/2006             120              117           360
WFB            Bernalillo          NM      03/01/2017       $1,998,342   02/09/2007             120              119           360
WFB            Orlando             FL      02/01/2017       $1,975,608   01/25/2007             120              118           360
WFB            Dearborn            MI      04/01/2017       $1,915,000   03/02/2007             120              120           360
WFB            Tuscaloosa          AL      02/01/2017       $1,895,813   01/08/2007             120              118           360
WFB            Magnolia            TX      02/01/2017       $1,850,000   01/31/2007             120              118           360
WFB            Novi                MI      02/01/2017       $1,791,647   01/01/2007             120              118           240
WFB            Simi Valley         CA      03/01/2017       $1,748,076   02/07/2007             120              119           324

<CAPTION>
Mortgage         Remaining
Loan Seller    Amort. Term   ARD Loan
-----------    -----------   --------
<S>            <C>           <C>
WFB                    358      No
WFB                    238      No
WFB                    359      No
WFB                    346      No
WFB                    358      No
WFB                     IO      No
WFB                    357      No
WFB                    357      No
WFB                    358      No
WFB                    360      No
WFB                    360      No
WFB                    357     Yes
WFB                    298      No
WFB                    237      No
WFB                    357      No
WFB                    359      No
WFB                    358      No
WFB                    360      No
WFB                    358      No
WFB                    360      No
WFB                    238      No
WFB                    323      No
</TABLE>

                                      1-4
<PAGE>

<TABLE>
<CAPTION>
Mortgage      Mortgage
Loan Seller   Loan No.   Property Name                                      Street Address
-----------   --------   ------------------------------------------------   --------------------------------------------------
<S>           <C>        <C>                                                <C>
WFB                208   McCarthy Ranch SC (Pad C and J)                    74-82 and 170-182 Ranch Drive
WFB                209   Dock Street Building2                              535 Dock Street
WFB                211   Cheektowaga IP Building                            75 Allied Drive
WFB                212   Petco - Lakewood                                   5215 Lakewood Boulevard
WFB                213   Hollywood Plaza                                    15525 15 Mile Road
WFB                216   Starbucks & AutoZone Portfolio - Starbucks (V)     35065 Interstate Highway 10 West
WFB                217   Starbucks & AutoZone Portfolio - AutoZone (V)      3101 North Main Street
WFB                218   Inner Space Storage                                2950 North 73rd Street
WFB                220   Huron Estates Cheboygan                            1290 South Huron
WFB                222   8250-8262 Alpine Ave                               8250-8262 Alpine Ave
WFB                223   Mosley Industrial                                  8200-8210 Mosely Road
WFB                227   Bartlett Center                                    1681-1695 South Route 59
WFB                228   Advance Auto - Martin Rd                           4729 North Shepherd Drive
WFB                230   Transmetco Building                                1750 E. Riverfork Dr
WFB                231   Buckner Building                                   1308 Delaware Avenue
WFB                232   White Cap Construction Supply - Indianapolis, IN   7130 W. McCarty Street
WFB                235   Oakman Apartments                                  5104 - 5120 Oakman Blvd
WFB                236   Park Street Apartments                             9746 Park Street
WFB                237   Advanced Auto - Chelsea, AL                        16462 US-280 W
WFB                238   Advance Auto - Alexandria, LA                      920 MacArthur Drive
WFB                240   Monterey Medical Office                            24551 Silver Cloud Court
WFB                241   Advance Auto - Fernandina Beach, FL                1880 South 8th Street.

<CAPTION>
Mortgage                                                 Cut-Off Date                Original Term   Remaining Term      Original
Loan Seller   City               State   Maturity Date     Balance      Note Date     to Maturity     to Maturity     Amort. Term
-----------   ----------------   -----   -------------   ------------   ----------   -------------   --------------   -----------
<S>           <C>                <C>     <C>             <C>            <C>          <C>             <C>              <C>
WFB           Milpitas            CA      02/01/2017       $1,742,017   01/12/2007             120              118           240
WFB           Tacoma              WA      02/01/2014       $1,694,652   01/16/2007              84               82           300
WFB           Cheektowaga         NY      03/01/2017       $1,600,000   02/16/2007             120              119           360
WFB           Lakewood            CA      03/01/2017       $1,598,107   01/29/2007             120              119           300
WFB           Clinton Township    MI      02/01/2017       $1,596,416   01/05/2007             120              118           360
WFB           Boerne              TX      02/01/2017         $812,295   01/19/2007             120              118           360
WFB           Rockford            IL      02/01/2017         $699,642   01/19/2007             120              118           360
WFB           Scottsdale          AZ      02/01/2012       $1,496,785   12/29/2006              60               58           360
WFB           Cheboygan           MI      03/01/2017       $1,438,828   02/08/2007             120              119           360
WFB           Sacramento          CA      04/01/2017       $1,350,000   02/22/2007             120              120           360
WFB           Houston             TX      02/01/2017       $1,330,000   01/19/2007             120              118           300
WFB           Bartlett            IL      02/01/2017       $1,232,475   01/05/2007             120              118           360
WFB           Houston             TX      03/01/2017       $1,215,000   02/08/2007             120              119            IO
WFB           Huntington          IN      03/01/2017       $1,184,099   02/02/2007             120              119           360
WFB           Wilmington          DE      03/01/2017       $1,150,000   02/22/2007             120              119           360
WFB           Indianapolis        IN      02/01/2017       $1,097,688   01/10/2007             120              118           360
WFB           Dearborn            MI      04/01/2017       $1,053,000   03/02/2007             120              120           360
WFB           Bellflower          CA      03/01/2017       $1,049,201   02/06/2007             120              119           360
WFB           Chelsea             AL      03/01/2017       $1,029,210   02/13/2007             120              119           360
WFB           Alexandria          LA      02/01/2017       $1,014,900   01/31/2007             120              118           360
WFB           Monterey            CA      01/01/2017         $997,305   12/01/2006             120              117           360
WFB           Fernandina Beach    FL      01/01/2017         $997,027   12/07/2006             120              117           360

<CAPTION>
Mortgage        Remaining
Loan Seller   Amort. Term   ARD Loan
-----------   -----------   --------
<S>           <C>           <C>
WFB                   238      No
WFB                   298      No
WFB                   360      No
WFB                   299      No
WFB                   358      No
WFB                   358      No
WFB                   358      No
WFB                   358      No
WFB                   359      No
WFB                   360      No
WFB                   300      No
WFB                   358      No
WFB                    IO      No
WFB                   359      No
WFB                   360      No
WFB                   358      No
WFB                   360      No
WFB                   359      No
WFB                   359      No
WFB                   358      No
WFB                   357      No
WFB                   357      No
</TABLE>

                                      1-5
<PAGE>

<TABLE>
<CAPTION>
Mortgage      Mortgage
Loan Seller   Loan No.   Property Name                                      Street Address
-----------   --------   ------------------------------------------------   --------------------------------------------------
<S>           <C>        <C>                                                <C>
WFB                244   National Tire Battery - Cedar Hill                 408 North Clark Road
WFB                245   Northside Terrace Senior Apartments                1002 North 6th Street
WFB                246   El Segundo Apartments                              321 W. El Segundo Blvd.
WFB                247   Airgas Building                                    201 S. River Run Road

<CAPTION>
Mortgage                                                 Cut-Off Date                Original Term   Remaining Term      Original
Loan Seller   City               State   Maturity Date     Balance      Note Date     to Maturity     to Maturity     Amort. Term
-----------   ----------------   -----   -------------   ------------   ----------   -------------   --------------   -----------
<S>           <C>                <C>     <C>             <C>            <C>          <C>             <C>              <C>
WFB           Cedar Hill          TX      01/01/2017         $947,121   12/04/2006             120              117           360
WFB           Hawley              MN      03/01/2017         $944,231   02/21/2007             120              119           360
WFB           El Segundo          CA      03/01/2017         $894,281   02/28/2007             120              119           360
WFB           Flagstaff           AZ      02/01/2017         $548,850   01/02/2007             120              118           360

<CAPTION>
Mortgage        Remaining
Loan Seller   Amort. Term   ARD Loan
-----------   -----------   --------
<S>           <C>           <C>
WFB                   357      No
WFB                   359      No
WFB                   359      No
WFB                   358      No
</TABLE>

                                      1-6

<PAGE>

                                    EXHIBIT 2
                    REPRESENTATIONS AND WARRANTIES REGARDING
                            INDIVIDUAL MORTGAGE LOANS

1. Mortgage Loan Schedule. The information set forth in the Mortgage Loan
Schedule is complete, true and correct in all material respects as of the date
of this Agreement and as of the Cut-Off Date.

2. Whole Loan; Ownership of Mortgage Loans. Each Mortgage Loan is a whole loan
and not a participation interest in a mortgage loan. Immediately prior to the
transfer to Purchaser of the Mortgage Loans, Seller had good title to, and was
the sole owner of, each Mortgage Loan. Seller has full right, power and
authority to transfer and assign each of the Mortgage Loans to or at the
direction of Purchaser and has validly and effectively conveyed (or caused to be
conveyed) to Purchaser or its designee all of Seller's legal and beneficial
interest in and to the Mortgage Loans free and clear of any and all pledges,
liens, charges, security interests and/or other encumbrances. The sale of the
Mortgage Loans to Purchaser or its designee does not require Seller to obtain
any governmental or regulatory approval or consent that has not been obtained.

3. Payment Record. No scheduled payment of principal and interest under any
Mortgage Loan was 30 days or more past due as of the Cut-Off Date, and no
Mortgage Loan was 30 days or more delinquent in the twelve-month period
immediately preceding the Cut-Off Date.

4. Lien; Valid Assignment. The Mortgage related to and delivered in connection
with each Mortgage Loan constitutes a valid and, subject to the exceptions set
forth in paragraph 13 below, enforceable first priority lien upon the related
Mortgaged Property, prior to all other liens and encumbrances, except for (a)
the lien for current real estate taxes and assessments not yet due and payable,
(b) covenants, conditions and restrictions, rights of way, easements and other
matters that are of public record and/or are referred to in the related lender's
title insurance policy, (c) exceptions and exclusions specifically referred to
in such lender's title insurance policy, (d) other matters to which like
properties are commonly subject, none of which matters referred to in clauses
(b), (c) or (d), individually or in the aggregate, materially interferes with
the security intended to be provided by such Mortgage, the marketability or
current use of the Mortgaged Property or the current ability of the Mortgaged
Property to generate operating income sufficient to service the Mortgage Loan
debt and (e) if such Mortgage Loan is cross-collateralized with any other
Mortgage Loan, the lien of the Mortgage for such other Mortgage Loan (the
foregoing items (a) through (e), the "Permitted Encumbrances"). The related
assignment of such Mortgage executed and delivered in favor of the Trustee is in
recordable form and constitutes a legal, valid and binding assignment,
sufficient to convey to the assignee named therein all of the assignor's right,
title and interest in, to and under such Mortgage; provided, if the related
Mortgage has been recorded in the name of Mortgage Electronic Registration
Systems, Inc. ("MERS") or its designee, no such assignment in favor of the
Trustee shall be required but instead Seller has agreed to take all actions as
are necessary to cause the Trustee to be shown as the owner of the related
Mortgage on the record of MERS for purposes of the system of recording transfers
of beneficial ownership of mortgages maintained by MERS. Such Mortgage, together
with any separate security agreements, chattel mortgages or equivalent
instruments, establishes and creates a valid and, subject to the exceptions set
forth in paragraph 13 below, enforceable security interest in favor of the
holder thereof in all of the related

                                      2-1
<PAGE>

Mortgagor's personal property used in, and reasonably necessary to operate, the
related Mortgaged Property. In the case of a Mortgaged Property operated as a
hotel or an assisted living facility, the Mortgagor's personal property includes
all personal property that a prudent mortgage lender making a similar Mortgage
Loan would deem reasonably necessary to operate the related Mortgaged Property
as it is currently being operated. A Uniform Commercial Code financing statement
has been filed and/or recorded in all places necessary to perfect a valid
security interest in such personal property, to the extent a security interest
may be so created therein, and such security interest is a first priority
security interest, subject to any prior purchase money security interest in such
personal property and any personal property leases applicable to such personal
property. Notwithstanding the foregoing, no representation is made as to the
perfection of any security interest in rents or other personal property to the
extent that possession or control of such items or actions other than the filing
of Uniform Commercial Code financing statements are required in order to effect
such perfection.

5. Assignment of Leases and Rents. The Assignment of Leases related to and
delivered in connection with each Mortgage Loan establishes and creates a valid,
subsisting and, subject to the exceptions set forth in paragraph 13 below,
enforceable first priority lien and first priority security interest in the
related Mortgagor's interest in all leases, sub-leases, licenses or other
agreements pursuant to which any person is entitled to occupy, use or possess
all or any portion of the real property subject to the related Mortgage, and
each assignor thereunder has the full right to assign the same. The related
assignment of any Assignment of Leases not included in a Mortgage has been
executed and delivered in favor of the Trustee and is in recordable form and
constitutes a legal, valid and binding assignment, sufficient to convey to the
assignee named therein all of the assignor's right, title and interest in, to
and under such Assignment of Leases; provided, if the related Mortgage has been
recorded in the name of MERS or its designee, no such assignment in favor of the
Trustee shall be required but instead Seller has agreed to take all actions as
are necessary to cause the Trustee to be shown as the owner of the related
Mortgage on the record of MERS for purposes of the system of recording transfers
of beneficial ownership of mortgages maintained by MERS.

6. Mortgage Status; Waivers and Modifications. No Mortgage has been satisfied,
cancelled, rescinded or subordinated in whole or in part, and the related
Mortgaged Property has not been released from the lien of such Mortgage, in
whole or in part (except for partial reconveyances of real property that are set
forth on Schedule A to Exhibit 2), nor has any instrument been executed that
would effect any such satisfaction, cancellation, subordination, rescission or
release, in any manner that, in each case, materially adversely affects the
value of the related Mortgaged Property. None of the terms of any Mortgage Note,
Mortgage or Assignment of Leases has been impaired, waived, altered or modified
in any respect, except by written instruments, all of which are included in the
related Mortgage File.

7. Condition of Property; Condemnation. Except with respect to Mortgage Loans
secured primarily by unimproved land: (i) with respect to the Mortgaged
Properties securing the Mortgage Loans that were the subject of an engineering
report within 18 months prior to the Cut-Off Date as set forth on Schedule A to
this Exhibit 2, each Mortgaged Property is, to Seller's knowledge, free and
clear of any damage (or adequate reserves therefor have been established) that
would materially and adversely affect its value as security for the related
Mortgage Loan, and (ii) with respect to the Mortgaged Properties securing the
Mortgage Loans that were not the

                                      2-2
<PAGE>

subject of an engineering report within 18 months prior to the Cut-Off Date as
set forth on Schedule A to this Exhibit 2, each Mortgaged Property is in good
repair and condition and all building systems contained therein are in good
working order (or adequate reserves therefor have been established) and each
Mortgaged Property is free of structural defects, in each case, that would
materially and adversely affect its value as security for the related Mortgage
Loan as of the date hereof. Seller has received no notice of the commencement of
any proceeding for the condemnation of all or any material portion of any
Mortgaged Property. To Seller's knowledge (based on surveys and/or title
insurance obtained in connection with the origination of the Mortgage Loans), as
of the date of the origination of each Mortgage Loan, all of the material
improvements on the related Mortgaged Property that were considered in
determining the appraised value of the Mortgaged Property lay wholly within the
boundaries and building restriction lines of such property, except for
encroachments that are insured against by the lender's title insurance policy
referred to herein or that do not materially and adversely affect the value or
marketability of such Mortgaged Property, and no improvements on adjoining
properties materially encroached upon such Mortgaged Property so as to
materially and adversely affect the value or marketability of such Mortgaged
Property, except those encroachments that are insured against by the Title
Policy referred to herein.

8. Title Insurance. Each Mortgaged Property is covered by an American Land Title
Association (or an equivalent form of) lender's title insurance policy or a
marked-up title insurance commitment (on which the required premium has been
paid) which evidences such title insurance policy (the "Title Policy") in the
original principal amount of the related Mortgage Loan after all advances of
principal. Each Title Policy insures that the related Mortgage is a valid first
priority lien on such Mortgaged Property, subject only to Permitted
Encumbrances. Each Title Policy (or, if it has yet to be issued, the coverage to
be provided thereby) is in full force and effect, all premiums thereon have been
paid and no material claims have been made thereunder and no claims have been
paid thereunder. No holder of the related Mortgage has done, by act or omission,
anything that would materially impair the coverage under such Title Policy.
Immediately following the transfer and assignment of the related Mortgage Loan
to the Trustee, such Title Policy (or, if it has yet to be issued, the coverage
to be provided thereby) will inure to the benefit of the Trustee without the
consent of or notice to the insurer. To Seller's knowledge, the insurer issuing
such Title Policy is qualified to do business in the jurisdiction in which the
related Mortgaged Property is located.

9. No Holdbacks. The proceeds of each Mortgage Loan have been fully disbursed
and there is no obligation for future advances with respect thereto. With
respect to each Mortgage Loan, any and all requirements as to completion of any
on-site or off-site improvement and as to disbursements of any funds escrowed
for such purpose that were to have been complied with on or before the Closing
Date have been complied with, or any such funds so escrowed have not been
released.

10. Mortgage Provisions. The Mortgage Note or Mortgage for each Mortgage Loan,
together with applicable state law, contains customary and enforceable
provisions (subject to the exceptions set forth in paragraph 13) such as to
render the rights and remedies of the holder thereof adequate for the practical
realization against the related Mortgaged Property of the principal benefits of
the security intended to be provided thereby.

                                      2-3
<PAGE>

11. Trustee under Deed of Trust. If any Mortgage is a deed of trust, (1) a
trustee, duly qualified under applicable law to serve as such, is properly
designated and serving under such Mortgage, and (2) no fees or expenses are
payable to such trustee by Seller, Purchaser or any transferee thereof except in
connection with a trustee's sale after default by the related Mortgagor or in
connection with any full or partial release of the related Mortgaged Property or
related security for the related Mortgage Loan.

12.   Environmental Conditions.

      (i) Except as set forth on Schedule A to this Exhibit 2, with respect to
      the Mortgaged Properties securing the Mortgage Loans that were the subject
      of an environmental site assessment within 18 months prior to the Cut-Off
      Date, an environmental site assessment prepared to ASTM standards, or an
      update of a previous such report, was performed with respect to each
      Mortgaged Property in connection with the origination or the sale of the
      related Mortgage Loan, a report of each such assessment (or the most
      recent assessment with respect to each Mortgaged Property) (an
      "Environmental Report") has been delivered to, or on behalf of, Purchaser
      or its designee, and Seller has no knowledge of any material and adverse
      environmental condition or circumstance affecting any Mortgaged Property
      that was not disclosed in such report. Each Mortgage requires the related
      Mortgagor to comply with all applicable federal, state and local
      environmental laws and regulations. Where such assessment disclosed the
      existence of a material and adverse environmental condition or
      circumstance affecting any Mortgaged Property, (i) a party not related to
      the Mortgagor was identified as the responsible party for such condition
      or circumstance or (ii) environmental insurance covering such condition
      was obtained or must be maintained until the condition is remediated or
      (iii) the related Mortgagor was required either to provide additional
      security that was deemed to be sufficient by the originator in light of
      the circumstances and/or to establish an operations and maintenance plan.
      Each Mortgage Loan set forth on Schedule C to this Exhibit 2 (each, a
      "Schedule C Loan") is the subject of a Secured Creditor Impaired Property
      Policy, issued by the issuer set forth on Schedule C (the "Policy Issuer")
      and effective as of the date thereof (each a "Secured Creditor Policy") or
      a pollution legal liability policy naming the Seller and its successors
      and/or assigns as an additional insured (a "PLL Policy"; a Secured
      Creditor Policy or a PLL Policy, an "Environmental Insurance Policy").
      Except as set forth on Schedule A to this Exhibit 2, with respect to each
      Schedule C Loan, (i) the Environmental Insurance Policy is in full force
      and effect, (ii)(a) a property condition or engineering report was
      prepared with respect to lead based paint ("LBP") and radon gas ("RG") at
      each Mortgaged Property that is used as a multifamily dwelling, and with
      respect to asbestos containing materials ("ACM") at each related Mortgaged
      Property and (b) if such report disclosed the existence of a material and
      adverse LBP, ACM or RG environmental condition or circumstance affecting
      the related Mortgaged Property, the related

                                      2-4
<PAGE>

      Mortgagor (A) was required to remediate the identified condition prior to
      closing the Mortgage Loan or provide additional security, or establish
      with the lender a reserve from loan proceeds, in an amount deemed to be
      sufficient by Seller for the remediation of the problem and/or (B) agreed
      in the Mortgage Loan documents to establish an operations and maintenance
      plan after the closing of the Mortgage Loan, (iii) on the effective date
      of the Environmental Insurance Policy, Seller as originator had no
      knowledge of any material and adverse environmental condition or
      circumstance affecting the Mortgaged Property (other than the existence of
      LBP, ACM or RG) that was not disclosed to the Policy Issuer in one or more
      of the following: (a) the application for insurance, (b) a borrower
      questionnaire that was provided to the Policy Issuer or (c) an engineering
      or other report provided to the Policy Issuer and (iv) the premium of any
      Environmental Insurance Policy has been paid through the maturity of the
      policy's term and the term of such policy extends at least five years
      beyond the maturity of the Mortgage Loan. Each Environmental Insurance
      Policy covering a Mortgaged Property identified on Schedule C to this
      Exhibit 2 that constitutes a PLL Policy (1) has a term that is
      co-terminous with the Maturity Date (or, in the case of an ARD Loan, the
      Anticipated Repayment Date) of the related Mortgage Loan, (2) provides for
      a deductible in an amount reasonably acceptable to the Seller and (3) is
      in an amount reasonably acceptable to the Seller.

      (ii) With respect to the Mortgaged Properties securing the Mortgage Loans
      that were not the subject of an environmental site assessment prepared to
      ASTM standards within 18 months prior to the Cut-Off Date as set forth on
      Schedule A to this Exhibit 2, (i) no Hazardous Material is present on such
      Mortgaged Property such that (1) the value of such Mortgaged Property is
      materially and adversely affected or (2) under applicable federal, state
      or local law, (a) such Hazardous Material could be required to be
      eliminated at a cost materially and adversely affecting the value of the
      Mortgaged Property before such Mortgaged Property could be altered,
      renovated, demolished or transferred or (b) the presence of such Hazardous
      Material could (upon action by the appropriate governmental authorities)
      subject the owner of such Mortgaged Property, or the holders of a security
      interest therein, to liability for the cost of eliminating such Hazardous
      Material or the hazard created thereby at a cost materially and adversely
      affecting the value of the Mortgaged Property, and (ii) such Mortgaged
      Property is in material compliance with all applicable federal, state and
      local laws pertaining to Hazardous Materials or environmental hazards, any
      noncompliance with such laws does not have a material adverse effect on
      the value of such Mortgaged Property and neither Seller nor, to Seller's
      knowledge, the related Mortgagor or any current tenant thereon, has
      received any notice of violation or potential violation of any such law.

                                      2-5
<PAGE>

      "Hazardous Materials" means gasoline, petroleum products, explosives,
      radioactive materials, polychlorinated biphenyls or related or similar
      materials, and any other substance or material as may be defined as a
      hazardous or toxic substance by any federal, state or local environmental
      law, ordinance, rule, regulation or order, including without limitation,
      the Comprehensive Environmental Response, Compensation and Liability Act
      of 1980, as amended (42 U.S.C. ss.ss. 9601 et seq.), the Hazardous
      Materials Transportation Act as amended (42 U.S.C. ss.ss. 6901 et seq.),
      the Federal Water Pollution Control Act as amended (33 U.S.C. ss.ss. 1251
      et seq.), the Clean Air Act (42 U.S.C. ss.ss. 1251 et seq.) and any
      regulations promulgated pursuant thereto.

13. Loan Document Status. Each Mortgage Note, Mortgage and other agreement that
evidences or secures such Mortgage Loan and was executed by or on behalf of the
related Mortgagor is the legal, valid and binding obligation of the maker
thereof (subject to any non-recourse provisions contained in any of the
foregoing agreements and any applicable state anti-deficiency or market value
limit deficiency legislation), enforceable in accordance with its terms, except
as such enforcement may be limited by bankruptcy, insolvency, reorganization or
other similar laws affecting the enforcement of creditors' rights generally, and
by general principles of equity (regardless of whether such enforcement is
considered in a proceeding in equity or at law) and there is no valid defense,
counterclaim or right of offset or rescission available to the related Mortgagor
with respect to such Mortgage Note, Mortgage or other agreement.

14. Insurance. Each Mortgaged Property is, and is required pursuant to the
related Mortgage to be, insured by (a) a fire and extended perils insurance
policy providing coverage against loss or damage sustained by reason of fire,
lightning, windstorm, hail, explosion, riot, riot attending a strike, civil
commotion, aircraft, vehicles and smoke, and, to the extent required as of the
date of origination by the originator of such Mortgage Loan consistent with its
normal commercial mortgage lending practices, against other risks insured
against by persons operating like properties in the locality of the Mortgaged
Property in an amount not less than the lesser of the principal balance of the
related Mortgage Loan and the replacement cost of the Mortgaged Property, and
not less than the amount necessary to avoid the operation of any co-insurance
provisions with respect to the Mortgaged Property, and the policy contains no
provisions for a deduction for depreciation; (b) a business interruption or
rental loss insurance policy, in an amount at least equal to twelve (12) months
of operations of the Mortgaged Property estimated as of the date of origination
by the originator of such Mortgage Loan consistent with its normal commercial
lending practices; (c) a flood insurance policy (if any portion of buildings or
other structures on the Mortgaged Property are located in an area identified by
the Federal Emergency Management Agency as having special flood hazards and the
Federal Emergency Management Agency requires flood insurance to be maintained);
and (d) a comprehensive general liability insurance policy in amounts as are
generally required by commercial mortgage lenders, and in any event not less
than $1 million per occurrence. Such insurance policy contains a standard
mortgagee clause that names the mortgagee as an additional insured in the case
of liability insurance policies and as a loss payee in the case of property
insurance policies and requires prior notice to the holder of the Mortgage of
termination or cancellation. No such notice has been received, including any
notice of nonpayment of premiums, that has not been cured. Each Mortgage
obligates the related Mortgagor to maintain all such insurance and, upon such
Mortgagor's failure to do so, authorizes the holder of the Mortgage to maintain
such insurance at

                                      2-6
<PAGE>

the Mortgagor's cost and expense and to seek reimbursement therefor from such
Mortgagor. Each Mortgage provides that casualty insurance proceeds will be
applied (a) to the restoration or repair of the related Mortgaged Property, (b)
to the restoration or repair of the related Mortgaged Property, with any excess
insurance proceeds after restoration or repair being paid to the Mortgagor, or
(c) to the reduction of the principal amount of the Mortgage Loan.

15. Taxes and Assessments. As of the Closing Date, there are no delinquent or
unpaid taxes, assessments (including assessments payable in future installments)
or other outstanding charges affecting any Mortgaged Property that are or may
become a lien of priority equal to or higher than the lien of the related
Mortgage. For purposes of this representation and warranty, real property taxes
and assessments shall not be considered unpaid until the date on which interest
or penalties would be first payable thereon.

16. Mortgagor Bankruptcy. No Mortgagor is, to Seller's knowledge, a debtor in
any state or federal bankruptcy or insolvency proceeding. As of the date of
origination, (i) with respect to Mortgage Loans with a principal balance greater
than $3,500,000, no tenant physically occupying 25% or more (by square feet) of
the net rentable area of the related Mortgaged Property was, to Seller's
knowledge, a debtor in any state or federal bankruptcy or insolvency proceeding
and (ii) with respect to Mortgage Loans with a principal balance equal to or
less than $3,500,000 no tenant physically occupying 50% or more (by square feet)
of the net rentable area of the related Mortgaged Property was, to Seller's
knowledge, a debtor in any state or federal bankruptcy or insolvency proceeding.

17. Leasehold Estate. Each Mortgaged Property consists of a fee simple estate in
real estate or, if the related Mortgage Loan is secured in whole or in part by
the interest of a Mortgagor as a lessee under a ground lease of a Mortgaged
Property (a "Ground Lease"), by the related Mortgagor's interest in the Ground
Lease but not by the related fee interest in such Mortgaged Property (the "Fee
Interest"), and as to such Ground Leases:

      (i) Such Ground Lease or a memorandum thereof has been or will be duly
      recorded; such Ground Lease (or the related estoppel letter or lender
      protection agreement between Seller and related lessor) does not prohibit
      the current use of the Mortgaged Property and does not prohibit the
      interest of the lessee thereunder to be encumbered by the related
      Mortgage; and there has been no material change in the payment terms of
      such Ground Lease since the origination of the related Mortgage Loan, with
      the exception of material changes reflected in written instruments that
      are a part of the related Mortgage File;

      (ii) The lessee's interest in such Ground Lease is not subject to any
      liens or encumbrances superior to, or of equal priority with, the related
      Mortgage, other than Permitted Encumbrances;

      (iii) The Mortgagor's interest in such Ground Lease is assignable to
      Purchaser and its successors and assigns upon notice to, but without the
      consent of, the lessor thereunder (or, if such consent is required, it has
      been obtained prior to the Closing Date) and, in the event that it is so
      assigned, is further assignable by Purchaser and its successors and
      assigns upon notice to, but without the need to
                                      2-7
<PAGE>

      obtain the consent of, such lessor or if such lessor's consent is required
      it cannot be unreasonably withheld;

      (iv) Such Ground Lease is in full force and effect, and the Ground Lease
      provides that no material amendment to such Ground Lease is binding on a
      mortgagee unless the mortgagee has consented thereto, and Seller has
      received no notice that an event of default has occurred thereunder, and,
      to Seller's knowledge, there exists no condition that, but for the passage
      of time or the giving of notice, or both, would result in an event of
      default under the terms of such Ground Lease;

      (v) Such Ground Lease, or an estoppel letter or other agreement, (A)
      requires the lessor under such Ground Lease to give notice of any default
      by the lessee to the holder of the Mortgage; and (B) provides that no
      notice of termination given under such Ground Lease is effective against
      the holder of the Mortgage unless a copy of such notice has been delivered
      to such holder and the lessor has offered or is required to enter into a
      new lease with such holder on terms that do not materially vary from the
      economic terms of the Ground Lease.

      (vi) A mortgagee is permitted a reasonable opportunity (including, where
      necessary, sufficient time to gain possession of the interest of the
      lessee under such Ground Lease) to cure any default under such Ground
      Lease, which is curable after the receipt of notice of any such default,
      before the lessor thereunder may terminate such Ground Lease;

      (vii) Such Ground Lease has an original term (including any extension
      options set forth therein) which extends not less than twenty years beyond
      the Stated Maturity Date of the related Mortgage Loan;

      (viii) Under the terms of such Ground Lease and the related Mortgage,
      taken together, any related insurance proceeds or condemnation award
      awarded to the holder of the ground lease interest will be applied either
      (A) to the repair or restoration of all or part of the related Mortgaged
      Property, with the mortgagee or a trustee appointed by the related
      Mortgage having the right to hold and disburse such proceeds as the repair
      or restoration progresses (except in such cases where a provision
      entitling a third party to hold and disburse such proceeds would not be
      viewed as commercially unreasonable by a prudent commercial mortgage
      lender), or (B) to the payment of the outstanding principal balance of the
      Mortgage Loan together with any accrued interest thereon; and

      (ix) Such Ground Lease does not impose any restrictions on subletting
      which would be viewed as commercially unreasonable by prudent commercial
      mortgage lenders lending on a similar Mortgaged Property in the lending
      area where the Mortgaged Property is located; and such Ground Lease
      contains a covenant that the lessor thereunder is not permitted, in the
      absence of an uncured default, to disturb the possession, interest or
      quiet enjoyment of the lessee thereunder for any reason, or in any manner,
      which would materially adversely affect the security provided by the
      related Mortgage.

                                      2-8
<PAGE>

      (x) Such Ground Lease requires the Lessor to enter into a new lease upon
      termination of such Ground Lease if the Ground Lease is rejected in a
      bankruptcy proceeding.

18. Escrow Deposits. All escrow deposits and payments relating to each Mortgage
Loan that are, as of the Closing Date, required to be deposited or paid have
been so deposited or paid.

19. LTV Ratio. The gross proceeds of each Mortgage Loan to the related Mortgagor
at origination did not exceed the non-contingent principal amount of the
Mortgage Loan and either: (a) such Mortgage Loan is secured by an interest in
real property having a fair market value (i) at the date the Mortgage Loan was
originated, at least equal to 80 percent of the original principal balance of
the Mortgage Loan or (ii) at the Closing Date, at least equal to 80 percent of
the principal balance of the Mortgage Loan on such date; provided that for
purposes hereof, the fair market value of the real property interest must first
be reduced by (x) the amount of any lien on the real property interest that is
senior to the Mortgage Loan and (y) a proportionate amount of any lien that is
in parity with the Mortgage Loan (unless such other lien secures a Mortgage Loan
that is cross-collateralized with such Mortgage Loan, in which event the
computation described in clauses (a)(i) and (a)(ii) of this paragraph 19 shall
be made on a pro rata basis in accordance with the fair market values of the
Mortgaged Properties securing such cross-collateralized Mortgage Loans); or (b)
substantially all the proceeds of such Mortgage Loan were used to acquire,
improve or protect the real property that served as the only security for such
Mortgage Loan (other than a recourse feature or other third party credit
enhancement within the meaning of Treasury Regulations Section
1.860G-2(a)(1)(ii)).

20. Mortgage Loan Modifications. Any Mortgage Loan that was "significantly
modified" prior to the Closing Date so as to result in a taxable exchange under
Section 1001 of the Code either (a) was modified as a result of the default
under such Mortgage Loan or under circumstances that made a default reasonably
foreseeable or (b) satisfies the provisions of either clause (a)(i) of paragraph
19 (substituting the date of the last such modification for the date the
Mortgage Loan was originated) or clause (a)(ii) of paragraph 19, including the
proviso thereto.

21. Advancement of Funds by Seller. No holder of a Mortgage Loan has advanced
funds or induced, solicited or knowingly received any advance of funds from a
party other than the owner of the related Mortgaged Property, directly or
indirectly, for the payment of any amount required by such Mortgage Loan.

22. No Mechanics' Liens. Each Mortgaged Property is free and clear of any and
all mechanics' and materialmen's liens that are prior or equal to the lien of
the related Mortgage, and no rights are outstanding that under law could give
rise to any such lien that would be prior or equal to the lien of the related
Mortgage except, in each case, for liens insured against by the Title Policy
referred to herein.

23. Compliance with Usury Laws. Each Mortgage Loan complied with all applicable
usury laws in effect at its date of origination.

24. Cross-collateralization. No Mortgage Loan is cross-collateralized or
cross-defaulted with any loan other than one or more other Mortgage Loans.

                                      2-9
<PAGE>

25. Releases of Mortgaged Property. Except as described in the next sentence, no
Mortgage Note or Mortgage requires the mortgagee to release all or any material
portion of the related Mortgaged Property that was included in the appraisal for
such Mortgaged Property, and/or generates income from the lien of the related
Mortgage except upon payment in full of all amounts due under the related
Mortgage Loan or in connection with the defeasance provisions of the related
Note and Mortgage. The Mortgages relating to those Mortgage Loans identified on
Schedule A hereto require the mortgagee to grant releases of portions of the
related Mortgaged Properties upon (a) the satisfaction of certain legal and
underwriting requirements and/or (b) the payment of a predetermined or
objectively determinable release price and prepayment consideration in
connection therewith. Except as described in the first sentence hereof and for
those Mortgage Loans identified on Schedule A, no Mortgage Loan permits the full
or partial release or substitution of collateral unless the mortgagee or
servicer can require the Borrower to provide an opinion of tax counsel to the
effect that such release or substitution of collateral (a) would not constitute
a "significant modification" of such Mortgage Loan within the meaning of Treas.
Reg. ss.1.1001-3 and (b) would not cause such Mortgage Loan to fail to be a
"qualified mortgage" within the meaning of Section 860G(a)(3)(A) of the Code.

26. No Equity Participation or Contingent Interest. No Mortgage Loan contains
any equity participation by the lender or provides for negative amortization
(except that the ARD Loan may provide for the accrual of interest at an
increased rate after the Anticipated Repayment Date) or for any contingent or
additional interest in the form of participation in the cash flow of the related
Mortgaged Property.

27. No Material Default. To Seller's knowledge, there exists no material
default, breach, violation or event of acceleration (and no event which, with
the passage of time or the giving of notice, or both, would constitute any of
the foregoing) under the documents evidencing or securing the Mortgage Loan, in
any such case to the extent the same materially and adversely affects the value
of the Mortgage Loan and the related Mortgaged Property; provided, however, that
this representation and warranty does not address or otherwise cover any
default, breach, violation or event of acceleration that specifically pertains
to any matter otherwise covered by any other representation and warranty made by
Seller in any of paragraphs 3, 7, 8, 12, 14, 15, 16 and 17 of this Exhibit 2.

28. Inspections. Seller (or if Seller is not the originator, the originator of
the Mortgage Loan) has inspected or caused to be inspected each Mortgaged
Property in connection with the origination of the related Mortgage Loan.

29. Local Law Compliance. Based on due diligence considered reasonable by
prudent commercial mortgage lenders in the lending area where the Mortgaged
Property is located, the improvements located on or forming part of each
Mortgaged Property comply with applicable zoning laws and ordinances, or
constitute a legal non-conforming use or structure or, if any such improvement
does not so comply, such non-compliance does not materially and adversely affect
the value of the related Mortgaged Property, such value as determined by the
appraisal performed at origination or in connection with the sale of the related
Mortgage Loan by Seller hereunder.

                                      2-10
<PAGE>

30. Junior Liens. None of the Mortgage Loans permits the related Mortgaged
Property to be encumbered by any lien (other than a Permitted Encumbrance)
junior to or of equal priority with the lien of the related Mortgage without the
prior written consent of the holder thereof or the satisfaction of debt service
coverage or similar criteria specified therein. Seller has no knowledge that any
of the Mortgaged Properties is encumbered by any lien junior to the lien of the
related Mortgage.

31. Actions Concerning Mortgage Loans. To the knowledge of Seller, there are no
actions, suits or proceedings before any court, administrative agency or
arbitrator concerning any Mortgage Loan, Mortgagor or related Mortgaged Property
that might adversely affect title to the Mortgaged Property or the validity or
enforceability of the related Mortgage or that might materially and adversely
affect the value of the Mortgaged Property as security for the Mortgage Loan or
the use for which the premises were intended.

32. Servicing. The servicing and collection practices used by Seller or any
prior holder or servicer of each Mortgage Loan have been in all material
respects legal, proper and prudent and have met customary industry standards.

33. Licenses and Permits. To Seller's knowledge, based on due diligence that it
customarily performs in the origination of comparable mortgage loans, as of the
date of origination of each Mortgage Loan or as of the date of the sale of the
related Mortgage Loan by Seller hereunder, the related Mortgagor was in
possession of all material licenses, permits and franchises required by
applicable law for the ownership and operation of the related Mortgaged Property
as it was then operated.

34. Assisted Living Facility Regulation. If the Mortgaged Property is operated
as an assisted living facility, to Seller's knowledge (a) the related Mortgagor
is in compliance in all material respects with all federal and state laws
applicable to the use and operation of the related Mortgaged Property and (b) if
the operator of the Mortgaged Property participates in Medicare or Medicaid
programs, the facility is in compliance in all material respects with the
requirements for participation in such programs.

35. Collateral in Trust. The Mortgage Note for each Mortgage Loan is not secured
by a pledge of any collateral that has not been assigned to Purchaser.

36. Due on Sale. Each Mortgage Loan contains a "due on sale" clause, which
provides for the acceleration of the payment of the unpaid principal balance of
the Mortgage Loan if, without prior written consent of the holder of the
Mortgage, the property subject to the Mortgage or any material portion thereof,
or a controlling interest in the related Mortgagor, is transferred, sold or
encumbered by a junior mortgage or deed of trust; provided, however, that
certain Mortgage Loans provide a mechanism for the assumption of the loan by a
third party upon the Mortgagor's satisfaction of certain conditions precedent,
and upon payment of a transfer fee, if any, or transfer of interests in the
Mortgagor or constituent entities of the Mortgagor to a third party or parties
related to the Mortgagor upon the Mortgagor's satisfaction of certain conditions
precedent.

                                      2-11
<PAGE>

37. Single Purpose Entity. The Mortgagor on each Mortgage Loan with a Cut-Off
Date Principal Balance in excess of $10 million, was, as of the origination of
the Mortgage Loan, a Single Purpose Entity. For this purpose, a "Single Purpose
Entity" shall mean an entity, other than an individual, whose organizational
documents provide substantially to the effect that it was formed or organized
solely for the purpose of owning and operating one or more of the Mortgaged
Properties securing the Mortgage Loans and prohibit it from engaging in any
business unrelated to such Mortgaged Property or Properties, and whose
organizational documents further provide, or which entity represented in the
related Mortgage Loan documents, substantially to the effect that it does not
have any assets other than those related to its interest in and operation of
such Mortgaged Property or Properties, or any indebtedness other than as
permitted by the related Mortgage(s) or the other related Mortgage Loan
documents, that it has its own books and records and accounts separate and apart
from any other person (other than a Mortgagor for a Mortgage Loan that is
cross-collateralized and cross-defaulted with the related Mortgage Loan), and
that it holds itself out as a legal entity, separate and apart from any other
person.

38. Non-Recourse Exceptions. The Mortgage Loan documents for each Mortgage Loan
provide that such Mortgage Loan constitutes either (a) the recourse obligations
of at least one natural person or (b) the non-recourse obligations of the
related Mortgagor, provided that at least one natural person (and the Mortgagor
if the Mortgagor is not a natural person) is liable to the holder of the
Mortgage Loan for damages arising in the case of fraud or willful
misrepresentation by the Mortgagor, misappropriation of rents, insurance
proceeds or condemnation awards and breaches of the environmental covenants in
the Mortgage Loan documents.

39. Defeasance and Assumption Costs. The related Mortgage Loan documents provide
that the related borrower is responsible for the payment of all reasonable costs
and expenses of the lender incurred in connection with the defeasance of such
Mortgage Loan and the release of the related Mortgaged Property, and the
borrower is required to pay all reasonable costs and expenses of the lender
associated with the approval of an assumption of such Mortgage Loan.

40. Defeasance. No Mortgage Loan provides that (i) it can be defeased until the
date that is more than two years after the Closing Date, (ii) that it can be
defeased with any property other than government securities (as defined in
Section 2(a)(16) of the Investment Company Act of 1940, as amended) or any
direct non-callable security issued or guaranteed as to principal or interest by
the United States that will provide interest and principal payments sufficient
to satisfy scheduled payments of interest and principal as required under the
related Mortgage Loan, or (iii) defeasance requires the payment of any
consideration other than (a) reimbursement of incidental costs and expenses
and/or (b) a specified dollar amount or an amount that is based on a formula
that uses objective financial information (as defined in Treasury Regulation
Section 1.446-3(c)(4)(ii)).

41. Prepayment Premiums. As of the applicable date of origination of each such
Mortgage Loan, any prepayment premiums and yield maintenance charges payable
under the terms of the Mortgage Loans, in respect of voluntary prepayments,
constituted customary prepayment premiums and yield maintenance charges for
commercial mortgage loans.

                                      2-12
<PAGE>

42. Terrorism Insurance. With respect to each Mortgage Loan that has a principal
balance as of the Cut-off Date that is greater than or equal to $20,000,000, the
related all risk insurance policy and business interruption policy do not
specifically exclude Acts of Terrorism, as defined in the Terrorism Risk
Insurance Act of 2002, from coverage, or if such coverage is excluded, is
covered by a separate terrorism insurance policy. With respect to each other
Mortgage Loan, the related all risk insurance policy and business interruption
policy did not as of the date of origination of the Mortgage Loan, and, to
Seller's knowledge, do not, as of the date hereof, specifically exclude Acts of
Terrorism from coverage, or if such coverage is excluded, it is covered by a
separate terrorism insurance policy. With respect to each of the Mortgage Loans,
the related Mortgage Loan documents do not expressly waive or prohibit the
mortgagee from requiring coverage for acts of terrorism or damages related
thereto, except to the extent that any right to require such coverage may be
limited by commercially reasonable availability, or as otherwise indicated on
Schedule A.

43. Foreclosure Property. Seller is not selling any Mortgage Loan as part of a
plan to transfer the underlying Mortgaged Property to Purchaser, and Seller does
not know or, to Seller's knowledge, have reason to know that any Mortgage Loan
will default. The representations in this paragraph 43 are being made solely for
the purpose of determining whether the Mortgaged Property, if acquired by the
Trust, would qualify as "foreclosure property" within the meaning of Section
860G(a)(8) of the Code, and may not be relied upon or used for any other
purpose. Such representations shall not be construed as a guarantee to any
degree that defaults or losses will not occur.

                                      2-13

<PAGE>

                               Schedule A

                  Exceptions to Representations and Warranties

1. Mortgage Loan Schedule.

2. Whole Loan; Ownership of Mortgage Loans.

o The following loans have correspondent fee arrangements in place that survive
securitization:

o Cost Plus - Torrance (620905383)($2,500,000)

o Farmington Gateway Marketplace (620905634)($2,150,000)

o Premier Self Storage (620905466)($1,900,000)

o Valley View Office Building (620905651)($1,675,000)

o Inner Space Storage (620905422)($1,500,000)

o Airgas Building (620905421)($550,000)

3. Payment Record.

4. Lien; Valid Assignment.

o Regions/Gillette Medical Office (310904392)($28,000,000): Right of first
refusal (ROFR) affecting entirety of mortgaged property

o Rave Cinemas Baton Rouge (310905448) ($11,100,000): Tenant (Rave Cinemas) has
option to purchase entirety of property following defeasance lockout period and
in event of total casualty or condemnation where tenant intends to abandon
property for option price sufficient to pay off loan balance and prepayment
charges; Option to purchase is not extinguished by foreclosure

o Rave Cinemas Pensacola (310905451)($9,700,000): Tenant (Rave Cinemas) has
option to purchase entirety of property following defeasance lockout period and
in event of total casualty or condemnation where tenant intends to abandon
property for option price sufficient to pay off loan balance and prepayment
charges; Option to purchase is not extinguished by foreclosure

o Rave Cinemas Port St. Lucie (310905453)($6,200,000): Tenant (Rave Cinemas) has
option to purchase entirety of property following defeasance lockout period and
in event of total casualty or condemnation where tenant intends to abandon
property for option price sufficient to pay off loan balance and prepayment
charges; Option to purchase is not extinguished by foreclosure

<PAGE>

o Western Union (310905457)($6,000,000): Tenant (Western Union) has option to
purchase entirety of mortgaged property

o Victoria Place Center (410905236)($4,500,000): Tenant (Foods North) has right
of first offer/refusal (ROFO/ROFR) to purchase entirety of the mortgaged
property; ROFR/ROFO is not extinguished by foreclosure; Foreclosure/deed-in-lieu
will not trigger ROFR/ROFO, however

o The Plaza at Jordan Creek Crossing (410905333)($4,400,000): Fractional
condominium; Mortgaged property consists of lower two floors (commercial units)
in three floor building where third floor units are residential; Borrower has
affirmative control of association (66.6%)

o Venice Beach Retail (410905469)($3,300,000): Tenant (Land's End, Inc.) has
right of first refusal (ROFR) to purchase entirety of mortgaged property; ROFR
is not extinguished by foreclosure; Foreclosure or deed-in-lieu does not trigger
ROFR, however

o Alcan NorthAmerican Indus. (410905334)($1,800,000): Tenant (Alcan Products
Corporation) has right of first refusal (ROFR) to purchase entirety of mortgaged
property; ROFR is not extinguished by foreclosure; Foreclosure or deed-in-lieu
does not trigger ROFR, however

o McCarthy Ranch SC (410905409)($1,750,000): Tenant (Banana Leaf) has right of
first offer (ROFO) to purchase entirety of mortgaged property; ROFR is not
extinguished by foreclosure; Foreclosure or deed-in-lieu does not trigger ROFR,
however

o Mosley Indus. (410905506)($1,330,000): Tenant (Core Labs) has Right of First
Refusal (ROFR) affecting part of mortgaged property; ROFR is not extinguished by
foreclosure; Foreclosure or deed-in-lieu does not trigger ROFR, however

o Transmetco Building (410905550)($1,185,000): Tenant (Transmetco Corporation)
has option to purchase entirety of mortgaged property at fair market value, but
not less than $1,252,000, during lease years beginning 07.01.2011 and
07.01.2014; Purchase option is not extinguished by foreclosure; If purchase
option exercised, SNDA provides that title is not conveyed until loan
obligations have been satisfied or loan is defeased

o National Tire Battery - Cedar Hill (410905354)($950,000): Tenant has right of
first offer and right of first refusal (ROFO/ROFR) to purchase entirety of
mortgaged property; Foreclosure does not extinguish ROFO/ROFR; Borrower is
liable for losses related to failure to obtain SNDA from tenant

o Airgas Building (620905421)($550,000): Purchase Option affecting part of
mortgaged property

5. Assignment of Leases and Rents.

6. Mortgage Status; Waivers and Modifications.

7. Condition of Property; Condemnation.

8. Title Insurance.

<PAGE>

9. No Holdbacks.

10. Mortgage Provisions.

11. Trustee under Deed of Trust.

12. Environmental Conditions.

o Schedule A Loans (In lieu of Phase I, property was included in lender's group
secured creditor impaired policy, except as otherwise indicated regarding
inclusion in individual environmental loan policy)

o Brea Mini-Storage (410905720)($5,000,000)

o Brentwood Country Mart (410905300)($4,500,000)

o The Plaza at Jordan Creek Crossing (410905333)($4,400,000)

o 51 Auto Center Drive (410905414)($4,000,000)

o American River Drive (410905491)($3,750,000)

o Rainbow Village Las Vegas (410905571)($3,400,000)

o Sullivan Moving and Storage (410905277)($3,200,000)

o Security Public Storage - Sacramento I (410903718)($2,775,000)

o North Creek Business Park (410905452)($2,700,000)

o Cost Plus - Torrance (620905383)($2,500,000)

o Hualapai Village Center (410905353)($2,300,000)

o Handi Self Storage - Lexington (410904907)($2,200,000)

o Newington Warehouse (410905349)($2,200,000)

o CVS - Westland, MI (410905321)($2,160,000)

o Premier Self Storage (620905466)($1,900,000)

o McCarthy Ranch SC (410905409)($1,750,000)

o Hollywood Plaza (410905403)($1,600,000)

o Petco - Lakewood (410905490)($1,600,000)

o Advance Auto - Alexandria, LA (410905654)($1,017,000)

<PAGE>

o Advance Auto - Fernandina Beach, FL (410905342)($1,000,000)

o National Tire Battery - Cedar Hill (410905354)($950,000)

o Airgas Building (620905421)($550,000)

Schedule C Information: All loans to be listed on Schedule A above are likewise
included on Schedule C as being the subject of a Secured Creditor Impaired
Property Policy. The Policy Issuer is Steadfast Insurance Company, an affiliate
of Zurich North America.

13. Loan Document Status.

14. Insurance.

o Interstate Companies - Grand Forks (410905172)($2,150,000): Terrorism
insurance waived; Individual borrowers are fully liable for related losses,
however

o 3260 Scott Blvd. (410905381)($2,100,000): Terrorism insurance waived;
Individual borrowers are fully liable for related losses, however; Current
insurance includes terrorism coverage, however

o Advanced Auto - Chelsea, AL (410905495)($1,030,050): Borrower's obligation to
provide required casualty, rent loss, CGL and terrorism insurance suspended so
long as tenant satisfies lease's insurance requirements

o Advance Auto - Fernandina Beach, FL (410905342)($1,000,000): Borrower's
obligation to provide required casualty, rent loss, CGL and terrorism insurance
suspended so long as tenant satisfies lease's insurance requirements; Related
lease has no requirement to provide rent loss or terrorism insurance; Rent loss
coverage (12 months) and terrorism insurance are currently in place, however

o National Tire Battery - Cedar Hill (410905354)($950,000): Borrower's
obligation to provide required casualty, rent loss, CGL and terrorism insurance
suspended so long as tenant satisfies lease's insurance requirements; Related
lease has no requirement to provide terrorism insurance; Terrorism insurance is
currently in place, however

15. Taxes and Assessments.

16. Mortgagor Bankruptcy.

17. Leasehold Estate.

18. Escrow Deposits.

19. LTV Ratio.

20. Mortgage Loan Modifications.

21. Advancement of Funds by the Seller.

<PAGE>

22. No Mechanics' Liens.

23. Compliance with Usury Laws.

24. Cross-collateralization.

25. Releases of Mortgage Property.

Schedule A Loans are subject of certain Partial Release Conditions:

o DRA - Lake Emma Corp. Park (310905706)($18,300,000): Partial release
provisions

o Sierra Trading Post Fulfillment/Dist. Ctr (310905322) ($12,000,000): Following
defeasance lockout period, release of companion loan [Sierra Trading Post
Admin/Retail/Warehouse Bldg (310905323) ($6,400,000)] from lien of
cross-collateralization is permitted either (i) (A) by payment of subject loan
in full, including applicable prepayment charges; (B) LTV of the companion loan
is not less than 80%; (C) DSCR of companion loan is 0.97x based on a 10%
mortgage constant; (D) net worth of related entity /tenant (Sierra Trading Post,
Inc.) is at least $12.5 million based on most recent audited quarterly financial
information; (E) net operating income of Sierra Trading Post, Inc. for previous
12 month period is least $1.8 million based on most recent four quarters of
audited financial information; or (ii) (A) by payment of subject loan in full,
including applicable prepayment charges; (B) by payment of $1,600,000 as
principal reduction on the companion loan (equal to 25% of the original
principal balance of the companion loan), together with applicable prepayment
charges; (C) Resulting LTV of the companion loan after prepayment is not less
than 60%; (D) DSCR of the companion loan is not less than 1.29x, based on a 10
year mortgage constant and calculated without benefit of amortization; also
(iii) Partial release of undeveloped parcel not material to underwriting
permitted without additional monetary consideration

o Rave Cinemas Baton Rouge (310905448) ($11,100,000): Collateral substitution
permitted to effect release of mortgaged property once over life of loan,
subject to certain conditions, including (A) post-substitution LTV is no greater
than 61.33%[LTV at closing] and (B) replacement property shall (1) have equal or
greater appraised value, (2) have equal or better physical condition, (3) be a
building substantially similar in use and quality to the substituted property;
(4) have lease terms no less favorable to existing Rave Lease; and (5) be in
location having similar or greater attributes as substituted property, including
submarket strength, population and accessibility; (C) post-substitution DSCR
shall be at least equal to 1.54x; and (D) delivery of "no downgrade"
confirmation from applicable rating agencies

o Rave Cinemas Pensacola (310905451)($9,700,000): Collateral substitution
provisions

o Provo Craft (310904961)($9,000,000): Collateral substitution provisions

o Sierra Trading Post Admin/Retail/Warehouse Bldg (310905323) ($6,400,000):
Following defeasance lockout period, release of companion loan Sierra Trading
Post Fulfillment/Dist. Ctr (310905322) ($12,000,000) from lien of
cross-collateralization is permitted either (i) (A) by payment of subject loan
in full, including applicable prepayment charges; (B) LTV of the companion loan
is not less than 80%; (C) DSCR of companion loan is 0.97x based

<PAGE>

on a 10% mortgage constant; (D) net worth of related entity/tenant (Sierra
Trading Post, Inc.) is at least $12.5 million based on most recent audited
quarterly financial information; (E) net operating income of Sierra Trading
Post, Inc. for previous 12 month period is least $1.8 million based on most
recent four quarters of audited financial information; or (ii) (A) by payment of
subject loan in full, including applicable prepayment charges; (B) by payment of
$3,000,000 as principal reduction on the companion loan (equal to 25% of the
original principal balance of the companion loan), together with applicable
prepayment charges; (C) Resulting LTV of the companion loan after prepayment is
not less than 60%; (D) DSCR of the companion loan is not less than 1.29x, based
on a 10 year mortgage constant and calculated without benefit of amortization;
also, (iii) Partial release of undeveloped parcel not material to underwriting
permitted without additional monetary consideration

o Rave Cinemas Port St. Lucie (310905453)($6,200,000): Collateral substitution
provisions

o Western Union (310905457)($6,000,000): Collateral substitution provisions

o Optronics (410905814)($3,937,500): Partial release provisions

o Security Public Storage - Sacramento I (410903718)($2,775,000): Partial
release provisions

o Premier Self Storage (620905466)($1,900,000): Partial release provisions

26. No Equity Participation or Contingent Interest.

27. No Material Default.

28. Inspections.

29. Local Law Compliance.

30. Junior Liens.

o 3636 Birch Street (410904984)($3,000,000): Existing secured subordinate debt
in amount of $750,000 (seller-financing from Arlene Westley, Trustee of The
Arlene Westley Living Trust) to Borrower; Subordination and Standstill Agreement
obtained

31. Actions Concerning Mortgage Loans.

32. Servicing.

33. Licenses and Permits.

34. Assisted Living Facility Regulation.

35. Collateral in Trust.

36. Due on Sale.

<PAGE>

37. Single-Purpose Entity.

38. Non-Recourse Exceptions.

o MetroNorth Business Center (310905297)($26,000,000): No warm body carve-out
guarantor (National Development Associates of New England Limited Partnership);
Stated net worth in excess of $37 million and liquidity in excess of $11 million

o DRA - Lake Emma Corp. Park (310905706)($18,300,000): No warm body carve-out
guarantor (DRA G&I Fund V Real Estate Investment Trust); Stated net worth in
excess of $1 billion

o Rave Cinemas Baton Rouge (310905448) ($11,100,000): No warm body carve-out
guarantor (Corporate Property Associates 15 Incorporated); Stated net worth in
excess of $1 billion, and liquidity in excess of $149 million

o Rave Cinemas Pensacola (310905451)($9,700,000): No warm body carve-out
guarantor (Corporate Property Associates 14 Incorporated); Stated net worth in
excess of $550 million, and liquidity in excess of $42 million

o Provo Craft (310904961)($9,000,000): No warm body carve-out guarantor
(Corporate Property Associates 16 Incorporated); Stated net worth in excess of
$650 million, and liquidity in excess of $225 million

o Rave Cinemas Port St. Lucie (310905453)($6,200,000): No warm body carve-out
guarantor (Corporate Property Associates 14 Incorporated); Stated net worth in
excess of $550 million, and liquidity in excess of $42 million

o Western Union (310905457)($6,000,000): No warm body carve-out guarantor (W. P.
Carey & Co.); Stated net worth in excess of $380 million, and liquidity in
excess of $18 million

o Optronics (410905814)($3,937,500): No warm body carve-out guarantor (Corporate
Property Associates 16-Global Incorporated); Stated net worth in excess of $650
million, and liquidity in excess of $225 million

39. Defeasance and Assumption Costs.

40. Defeasance.

41. Prepayment Premiums.

42. Terrorism Insurance.

o Interstate Companies - Grand Forks (410905172)($2,150,000): Terrorism
insurance waived; Individual borrowers are fully liable for related losses,
however

<PAGE>

o 3260 Scott Blvd. (410905381)($2,100,000): Terrorism insurance waived;
Individual borrowers are fully liable for related losses, however; Current
insurance includes terrorism coverage, however

o Advanced Auto - Chelsea, AL (410905495)($1,030,050): Borrower's obligation to
provide required casualty, rent loss, CGL and terrorism insurance suspended so
long as tenant satisfies lease's insurance requirements

o Advance Auto - Fernandina Beach, FL (410905342)($1,000,000): Borrower's
obligation to provide required casualty, rent loss, CGL and terrorism insurance
suspended so long as tenant satisfies lease's insurance requirements; Related
lease has no requirement to provide rent loss or terrorism insurance; Rent loss
coverage (12 months) and terrorism insurance are currently in place, however

o National Tire Battery - Cedar Hill (410905354)($950,000): Borrower's
obligation to provide required casualty, rent loss, CGL and terrorism insurance
suspended so long as tenant satisfies lease's insurance requirements; Related
lease has no requirement to provide terrorism insurance; Terrorism insurance is
currently in place, however

43. Foreclosure Property.

<PAGE>

                                   Schedule B

      List of Mortgagors that are Third-Party Beneficiaries Under Section 5.5

  310905322          Sierra Trading         $11,921,877.71     26,27
                 26  Post Fulfillment
                     Sierra Trading

  310905323          Post Admin              $6,358,334.77     26,27
                 27  Building

<PAGE>

                                   Schedule C

      List of Mortgage Loans Subject to Secured Creditor Impaired Property
                                    Policies

  410905720     115  Brea Mini-Storage       $4,995,464.60     Yes - Group
  410905725     119  North Main Storage      $4,650,000.00     Yes - Group
                     Brentwood Country
  410905300     120  Mart                    $4,500,000.00     Yes - Group
                     The Plaza at Jordan
  410905333     126  Creek Crossing          $4,386,230.21     Yes - Group
  410905801     131  Ameripath               $4,050,000.00     Yes - Group
  410905414     136  51 Auto Center Drive    $3,981,137.25     Yes - Group
  410905491     140  American River Drive    $3,741,789.84     Yes - Group
                     Rainbow Village Las
  410905571     146  Vegas                   $3,392,470.69     Yes - Group
  410905469     147  Venice Beach Retail     $3,292,715.94     Yes - Group
                     Sullivan Moving and
  410905277     153  Storage                 $3,185,226.25     Yes - Group
  410904984     163  3636 Birch Street       $2,986,489.94     Yes - Group
  410905731     168  August Supply           $2,747,873.92     Yes - Group
                     Security Public
                     Storage -
  410903718     169  Sacramento I            $2,736,375.23     Yes - Group
                     North Creek
  410905452     170  Business Park           $2,693,822.51     Yes - Group
  620905383     171  Cost Plus - Torrance    $2,500,000.00     Yes - Group
                     Hualapai Village
  410905353     177  Center                  $2,295,005.31     Yes - Group
  410905349     181  Newington Warehouse     $2,200,000.00     Yes - Group
                     Handi Self Storage
  410904907     182  - Lexington             $2,200,000.00     Yes - Group
  410905321     186  CVS - Westland, MI      $2,153,479.52     Yes - Group
                     Farmington Gateway
  620905634     187  Marketplace             $2,142,983.69     Yes - Group
                     Interstate
                     Companies - Grand
  410905172     188  Forks                   $2,135,937.08     Yes - Group
                     Coronado Self
  410905533     193  Storage                 $1,998,342.32     Yes - Group
                     Harvest Meat
  410905476     196  Industrial Building     $1,975,608.13     Yes - Group
                     West Dearborn
  410905487     198  Apartments              $1,915,000.00     Yes - Group
  620905466     201  Premier Self Storage    $1,895,812.98     Yes - Group
                     Magnolia Bend
  410905594     202  Retail Center           $1,850,000.00     Yes - Group
                     Valley View Office
  620905651     206  Building                $1,748,076.03     Yes - Group
                     McCarthy Ranch SC
  410905409     208  (Pad C and J)           $1,742,017.00     Yes - Group
                     Dock Street
  410905461     209  Building2               $1,694,651.61     Yes - Group
                     Cheektowaga IP
  410905626     211  Building                $1,600,000.00     Yes - Group
  410905490     212  Petco - Lakewood        $1,598,106.57     Yes - Group
  410905403     213  Hollywood Plaza         $1,596,416.11     Yes - Group

<PAGE>

  410905632     216  Starbucks &
                     AutoZone Portfolio
                     - Starbucks  (V)          $812,295.46     Yes - Group
                     Starbucks &
  410905632     217  AutoZone Portfolio
                     - AutoZone (V)            $699,641.67     Yes - Group
  620905422     218  Inner Space Storage     $1,496,784.76     Yes - Group
                     Huron Estates
  410905742     220  Cheboygan               $1,438,828.36     Yes - Group
  410905760     222  8250-8262 Alpine Ave    $1,350,000.00     Yes - Group
                     Advance Auto -
  410905639     228  Martin Rd               $1,215,000.00     Yes - Group
  410905789     231  Buckner Building        $1,150,000.00     Yes - Group
  410905486     235  Oakman Apartments       $1,053,000.00     Yes - Group
                     Park Street
  410905648     236  Apartments              $1,049,201.42     Yes - Group
                     Advanced Auto -
  410905495     237  Chelsea, AL             $1,029,209.68     Yes - Group
                     Advance Auto -
  410905654     238  Alexandria, LA          $1,014,900.09     Yes - Group
                     Monterey Medical
  410904611     240  Office                    $997,304.66     Yes - Group
                     Advance Auto -
  410905342     241  Fernandina Beach, FL      $997,026.91     Yes - Group
                     National Tire
  410905354     244  Battery - Cedar Hill      $947,121.26     Yes - Group
                     Northside Terrace
  410905637     245  Senior Apartments         $944,231.11     Yes - Group
                     El Segundo
  410905659     246  Apartments                $894,281.43     Yes - Group
  620905421     247  Airgas Building           $548,849.50     Yes - Group

<PAGE>

                                    EXHIBIT 3

                                  BILL OF SALE

1. Parties. The parties to this Bill of Sale are the following:

                  Seller:       Wells Fargo Bank, National Association
                  Purchaser:    Bear Stearns Commercial Mortgage Securities Inc.

2. Sale. For value received, Seller hereby conveys to Purchaser, without
recourse, all right, title and interest in and to the Mortgage Loans identified
on Exhibit 1 (the "Mortgage Loan Schedule") to the Mortgage Loan Purchase
Agreement, dated as of April 5, 2007 (the "Mortgage Loan Purchase Agreement"),
between Seller and Purchaser and all of the following property:

            (a) All accounts, general intangibles, chattel paper, instruments,
      documents, money, deposit accounts, certificates of deposit, goods,
      letters of credit, advices of credit and investment property consisting
      of, arising from or relating to any of the following property: the
      Mortgage Loans identified on the Mortgage Loan Schedule including the
      related Mortgage Notes, Mortgages, security agreements, and title, hazard
      and other insurance policies, all distributions with respect thereto
      payable after the Cut-Off Date, all substitute or replacement Mortgage
      Loans and all distributions with respect thereto, and the Mortgage Files;

            (b) All accounts, general intangibles, chattel paper, instruments,
      documents, money, deposit accounts, certificates of deposit, goods,
      letters of credit, advices of credit, investment property, and other
      rights arising from or by virtue of the disposition of, or collections
      with respect to, or insurance proceeds payable with respect to, or claims
      against other Persons with respect to, all or any part of the collateral
      described in clause (a) above (including any accrued discount realized on
      liquidation of any investment purchased at a discount); and

            (c) All cash and non-cash proceeds of the collateral described in
      clauses (a) and (b) above.

3. Purchase Price. The amount equal to [____________].

4. Definitions. Terms used but not defined herein shall have the meanings
assigned to them in the Mortgage Loan Purchase Agreement.

                                      4-1
<PAGE>

IN WITNESS WHEREOF, each of the parties hereto has caused this Bill of
Sale to be duly executed and delivered on this 19th day of January,
2007.

SELLER:                             WELLS FARGO BANK,
                                    NATIONAL ASSOCIATION

                                    By:
                                       -------------------------------------
                                       Name:
                                            --------------------------------
                                       Title:
                                             -------------------------------

PURCHASER:                          BEAR STEARNS COMMERCIAL MORTGAGE
                                    SECURITIES INC.

                                    By:
                                       -------------------------------------
                                       Name:
                                            --------------------------------
                                       Title:
                                             -------------------------------

<PAGE>

                                    EXHIBIT 4

                        FORM OF LIMITED POWER OF ATTORNEY
                      TO LASALLE BANK NATIONAL ASSOCIATION
                          AND CENTERLINE SERVICING INC.
                                 WITH RESPECT TO
                BEAR STEARNS COMMERCIAL MORTGAGE SECURITIES INC.
                  COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES
                                SERIES 2007-TOP26

KNOW ALL MEN BY THESE PRESENTS:

      WHEREAS,  pursuant  to the  terms of the  Mortgage  Loan  Purchase
Agreement  dated as of April 5,  2007  (the  "Mortgage  Loan  Purchase
      Agreement"), between Wells Fargo Bank, National Association ("WELLS")
and Bear Stearns  Commercial  Mortgage  Securities  Inc.  ("Depositor"),
WELLS is selling certain  multifamily and commercial mortgage loans (the
"Mortgage Loans") to Depositor;

      WHEREAS, pursuant to the terms of the Pooling and Servicing Agreement
dated as of April 1, 2007 (the "Pooling and Servicing Agreement"), between the
Depositor, Wells Fargo Bank, National Association, as Master Servicer,
Centerline Servicing Inc. ("CENTERLINE") as Special Servicer, LaSalle Bank
National Association ("LaSalle") as Trustee and Custodian and Wells Fargo Bank,
National Association, as Paying Agent, Certificate Registrar and Authenticating
Agent, the Trustee and the Special Servicer are granted certain powers,
responsibilities and authority in connection with the completion and the filing
and recording of assignments of mortgage, deeds of trust or similar documents,
Form UCC-2 and UCC-3 assignments of financing statements, reassignments of
assignments of leases, rents and profits and other Mortgage Loan documents
required to be filed or recorded in appropriate public filing and recording
offices;

      WHEREAS, WELLS has agreed to provide this Limited Power of Attorney
pursuant to the Mortgage Loan Purchase Agreement;

      NOW, THEREFORE, WELLS does hereby make, constitute and appoint LaSalle,
acting solely in its capacity as Trustee under, and in accordance with the terms
of, the Pooling and Servicing Agreement, WELLS's true and lawful agent and
attorney-in-fact with respect to each Mortgage Loan in WELLS's name, place and
stead: (i) to complete (to the extent necessary) and to cause to be submitted
for filing or recording in the appropriate public filing or recording offices,
all assignments of mortgage, deeds of trust or similar documents, assignments or
reassignments of rents, leases and profits, in each case in favor of the
Trustee, as set forth in the definition of "Mortgage File" in Section 1.1 of the
Pooling and Servicing Agreement, that have been received by the Trustee or a
Custodian on its behalf, and all Form UCC-2 or UCC-3 assignments of financing
statements and all other comparable instruments or documents with respect to the
Mortgage Loans which are customarily and reasonably necessary or appropriate to
assign agreements, documents and instruments pertaining to the Mortgage Loans,
in each case in favor of the Trustee as set forth in the definition of "Mortgage
File" in, and in accordance with Section 1.1 of, the Pooling and Servicing
Agreement, and to evidence, provide notice of and

<PAGE>

perfect such assignments and conveyances in favor of the Trustee in the public
records of the appropriate filing and recording offices; and (ii) to file or
record in the appropriate public filing or recording offices, all other Mortgage
Loan documents to be recorded under the terms of the Pooling and Servicing
Agreement or any such Mortgage Loan documents which have not been submitted for
filing or recordation by WELLS on or before the date hereof or which have been
so submitted but are subsequently lost or returned unrecorded or unfiled as a
result of actual or purported defects therein, in order to evidence, provide
notice of and perfect such documents in the public records of the appropriate
filing and recording offices. Notwithstanding the foregoing, this Limited Power
of Attorney shall grant to LaSalle and Centerline only such powers,
responsibilities and authority as are set forth in Section 2.1 of the Mortgage
Loan Purchase Agreement.

      WELLS does also hereby make, constitute and appoint CENTERLINE, acting
solely in its capacity as Special Servicer under the Pooling and Servicing
Agreement, WELLS's true and lawful agent and attorney-in-fact with respect to
the Mortgage Loans in WELLS's name, place and stead solely to exercise and
perform all of the rights, authority and powers of LaSalle as set forth in the
preceding paragraph in the event of the failure or the incapacity of LaSalle to
do so for any reason. As between Centerline and any third party, no evidence of
the failure or incapacity of LaSalle shall be required and such third party may
rely upon Centerline's written statement that it is acting pursuant to the terms
of this Limited Power of Attorney.

      The enumeration of particular powers herein is not intended in any way to
limit the grant to either the Trustee or the Special Servicer as WELLS's
attorney-in-fact of full power and authority with respect to the Mortgage Loans
to complete (to the extent necessary), file and record any documents,
instruments or other writings referred to above as fully, to all intents and
purposes, as WELLS might or could do if personally present, hereby ratifying and
confirming whatsoever such attorney-in-fact shall and may do by virtue hereof;
and WELLS agrees and represents to those dealing with such attorney-in-fact that
they may rely upon this Limited Power of Attorney until termination thereof
under the provisions of Article III below. As between WELLS, the Depositor, the
Master Servicer, the Special Servicer, the Trustee, the Trust Fund and the
Certificateholders, neither the Trustee nor the Special Servicer may exercise
any right, authority or power granted by this Limited Power of Attorney in a
manner which would violate the terms of the Pooling and Servicing Agreement, but
any and all third parties dealing with either the Trustee or the Special
Servicer as WELLS's attorney-in-fact may rely completely, unconditionally and
conclusively on the authority of the Trustee or the Special Servicer, as
applicable, and need not make any inquiry about whether the Trustee or the
Special Servicer is acting pursuant to the Pooling and Servicing Agreement. Any
purchaser, title insurance company or other third party may rely upon a written
statement by either the Trustee or the Special Servicer that any particular
Mortgage Loan or related mortgaged real property in question is subject to and
included under this Limited Power of Attorney and the Pooling and Servicing
Agreement.

      Any act or thing lawfully done hereunder by either the Trustee or the
Special Servicer shall be binding on WELLS and WELLS's successors and assigns.

<PAGE>

      This Limited Power of Attorney shall continue in full force and effect
with respect to the Trustee and the Special Servicer, as applicable, until the
earliest occurrence of any of the following events:

1.    with respect to the Trustee, the termination of the Trustee and its
      replacement with a successor Trustee under the terms of the Pooling and
      Servicing Agreement;

2.    with respect to the Special Servicer, the termination of the Special
      Servicer and its replacement with a successor Special Servicer under the
      terms of the Pooling and Servicing Agreement;

3.    with respect to the Trustee, the appointment of a receiver or conservator
      with respect to the business of the Trustee, or the filing of a voluntary
      or involuntary petition in bankruptcy by or against the Trustee;

4.    with respect to the Special Servicer, the appointment of a receiver or
      conservator with respect to the business of the Special Servicer, or the
      filing of a voluntary or involuntary petition in bankruptcy by or against
      the Special Servicer;

5.    with respect to each of the Trustee and the Special Servicer and any
      Mortgage Loan, such Mortgage Loan is no longer a part of the Trust Fund;

6.    with respect to each of the Trustee and the Special Servicer, the
      termination of the Pooling and Servicing Agreement in accordance with its
      terms; and

7.    with respect to the Special Servicer, the occurrence of an Event of
      Default under the Pooling and Servicing Agreement with respect to the
      Special Servicer.

      Nothing herein shall be deemed to amend or modify the Pooling and
Servicing Agreement, the Mortgage Loan Purchase Agreement or the respective
rights, duties or obligations of WELLS under the Mortgage Loan Purchase
Agreement, and nothing herein shall constitute a waiver of any rights or
remedies under the Pooling and Servicing Agreement.

      Capitalized terms used but not defined herein have the respective meanings
assigned thereto in the Mortgage Loan Purchase Agreement.

      THIS LIMITED POWER OF ATTORNEY SHALL BE GOVERNED BY AND CONSTRUED IN
ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, AND THE OBLIGATIONS, RIGHTS
AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH
SUCH LAWS WITHOUT REGARD TO CONFLICT OF LAWS PRINCIPLES APPLIED IN NEW YORK.

                            [Signature on next page]

<PAGE>

      IN WITNESS WHEREOF, WELLS has caused this instrument to be executed and
its corporate seal to be affixed hereto by its officer duly authorized as of
April 5, 2007.

                                       WELLS FARGO BANK, NATIONAL ASSOCIATION

                                       By:
                                          --------------------------------------
                                       Name:
                                            ------------------------------------
                                       Title:
                                             -----------------------------------

<PAGE>

                            ACKNOWLEDGEMENT

STATE OF NEW YORK       )
                        )  ss:
COUNTY OF NEW YORK      )

      On this 5th day of April, 2007, before me appeared Brigid M. Mattingly to
me personally known, who, being by me duly sworn did say that he/she is the
Managing Director of Wells Fargo Bank, National Association, and that the seal
affixed to the foregoing instrument is the corporate seal of said corporation,
and that said instrument was signed and sealed in behalf of said corporation by
authority of its board of directors, and said Managing Director acknowledged
said instrument to be the free act and deed of said corporation.

                                       -----------------------------------------
                                       Name:
                                            ------------------------------------
                                            Notary Public in and for said County
                                            and State

My Commission Expires:

--------------------------------

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