Document:

Lenox Group, Inc. Exhibit 10.1 to Form 8-K

Exhibit 10.1  

INDUSTRIAL BUILDING LEASE

(BOND-TYPE)

 

1.
          BASIC TERMS. This Section 1 contains the Basic Terms of this Industrial Building Lease (the “Lease”) between Landlord and Tenant, named below. Other Sections of the Lease referred to in this Section 1 explain and define the Basic Terms and are to be read in conjunction with the Basic Terms.

	
             
  	
            1.1.
 	
            Effective Date of Lease:  December 28, 2006
 

	
             
  	
            1.2.
 	
            Landlord:  FR Net Lease Co-Investment Program 13, LLC, a Delaware limited liability company
 

	
             
  	
            1.3.
 	
            Tenant:  Lenox, Incorporated, a New Jersey corporation
 

	
             
  	
            1.4.
 	
            Premises:  Approximately forty (40) acres of land on which the Building (the “Building”) commonly known as 16507 Hunters Green Parkway, Hagerstown, Maryland, is located, which Building contains approximately 506,003 rentable square feet, as legally described on Exhibit A attached hereto.
 

	
             
  	
            1.5.
 	
            Guarantor:  Lenox Group Inc.
 

	
             
  	
            1.6.
 	
            Lease Term: Fifteen (15) years (“Term”), commencing December 28, 2006 (“Commencement Date”) and ending, subject to Section 2.5 below and Rider 1 hereof, on December 31, 2021 (“Expiration Date”).
 

	
             
  	
            1.7.
 	
            Permitted Uses:  (See Section 4.1)  Any lawful purposes, subject to applicable zoning restrictions, provided that Tenant’s use does not otherwise violate the other terms and conditions of this Lease; provided, however, that if Tenant desires to use the Premises for any use other than warehouse, and distribution and ancillary office use, then Tenant must first obtain Landlord’s consent, which consent shall not be withheld unless such use creates a nuisance (e.g., by production or emission of objectionable or unpleasant odors, smoke, dust, gas, light, noise or vibrations) or materially increases the risk of environmental contamination.
 

	
             
  	
            1.8.
 	
            Tenant’s Broker:  N/A
 

	
             
  	
            1.9.
 	
            Exhibits and Riders to Lease:  The following exhibits and riders are attached to and made a part of this Lease. Exhibit A (legal description); Exhibit B (Tenant Operations Inquiry Form); Exhibit C (Broom Clean Condition and Repair Requirements), Exhibit D (Termination Fee); Exhibit E (Guaranty); Exhibit F (Right of First Offer); and Rider No. 1 (Tenant’s Expansion Option).
 

	
             
  	
            2.
 	
            LEASE OF PREMISES; RENT.
 

2.1.          Lease of Premises for Lease Term. Landlord hereby leases the Premises to Tenant, and Tenant hereby rents the Premises from Landlord, for the Term and subject to the conditions of this Lease.

2.2.          Types of Rental Payments. Tenant shall pay net base rent to Landlord in monthly installments, in advance, on the first day of each and every calendar month during the Term of this Lease (the “Base Rent”) in the amounts and for the periods as set forth below:

	
            Rental Payments
  
	 
	
            Lease  Period
  	
            Annual  Base Rent
  	
            Monthly  Base Rent
  
	
            12/28/06 - 12/31/06
 	
            Per diem        
 	
            $5,268.00
 
	
            1/1/07 – 12/31/07
 	
            $1,922,820.00
 	
            $160,235.00
 
	
            1/1/08 – 12/31/08
 	
            $1,961,268.00
 	
            $163,439.00
 
	
            1/1/09 – 12/31/09
 	
            $2,000,496.00
 	
            $166,708.00
 
	
            1/1/10 – 12/31/10
 	
            $2,040,504.00
 	
            $170,042.00
 
	
            1/1/11 – 12/31/11
 	
            $2,081,316.00
 	
            $173,443.00
 
	
            1/1/12 – 12/31/12
 	
            $2,122,944.00
 	
            $176,912.00
 
	
            1/1/13 – 12/31/13
 	
            $2,165,400.00
 	
            $180,450.00
 
	
            1/1/14 – 12/31/14
 	
            $2,208,708.00
 	
            $184,059.00
 
	
            1/1/15 – 12/31/15
 	
            $2,252,880.00
 	
            $187,740.00
 
	
            1/1/16 – 12/31/16
 	
            $2,297,940.00
 	
            $191,495.00
 
	
            1/1/17 – 12/31/17
 	
            $2,343,900.00
 	
            $195,325.00
 
	
            1/1/18 – 12/31/18
 	
            $2,390,784.00
 	
            $199,232.00
 
	
            1/1/19 – 12/31/19
 	
            $2,438,604.00
 	
            $203,217.00
 
	
            1/1/20 – 12/31/20
 	
            $2,487,372.00
 	
            $207,281.00
 
	
            1/1/21 – 12/31/21
 	
            $2,537,124.00
 	
            $211,427.00
 

 

Tenant shall also pay all Operating Expenses (defined below) and any other amounts owed by Tenant hereunder (collectively, “Additional Rent”). In the event any monthly installment of Base Rent or Additional Rent, or both, is not paid within 5 days of the date when due, a late charge in an amount equal to 2% of the then delinquent installment of Base Rent and/or Additional Rent (the “Late Charge”; the Late Charge, Default Interest, as defined in Section 21.3 below, Base Rent and Additional Rent shall collectively be referred to as “Rent”) shall be paid by Tenant to Landlord. Default Interest shall not be charged on the Late Charge and the Late Charge shall not be imposed on accrued Default
Interest. Tenant shall deliver all Rent payments to Landlord at [311 South Wacker Drive, Suite 4000, Chicago, IL, 60606, Attn:  Joint Venture Accounting Group] (or to such other entity designated as Landlord’s management agent, if any, and if Landlord so appoints such a management agent, the “Agent”), or pursuant to such other directions as Landlord shall designate in this Lease or otherwise in writing.

2.3.          Covenants Concerning Rental Payments; Initial and Final Rent Payments. Tenant shall pay the Rent promptly when due, without notice or demand, and without any abatement, deduction or setoff. No payment by Tenant, or receipt or acceptance by Agent or Landlord, of a lesser amount than the correct Rent shall be deemed to be other than a payment on account, nor shall any endorsement or statement on any check or letter accompanying any payment be deemed an accord or satisfaction, and Agent or Landlord may accept such payment without prejudice to its right to recover the balance due or to pursue any other remedy available to Landlord. 

 

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            2.4.
 	
            Net Lease; Nonterminability.
 

2.4.1.       This Lease is a complete “bond net lease,” and Tenant’s obligations arising or accruing during the Term of this Lease to pay all Base Rent, Additional Rent, and all other payments hereunder required to be made by Tenant shall be absolute and unconditional, and Tenant shall pay all Base Rent, Additional Rent and all other payments required to be made by Tenant under this Lease without notice (except as otherwise expressly and specifically set forth herein), demand, counterclaim, set-off, deduction, or defense and without abatement, suspension, deferment, diminution or reduction, free from any charges, assessments, impositions, expenses or deductions of any and every kind of and nature whatsoever. All costs, expenses and obligations of every kind and nature whatsoever relating to
the Premises and the appurtenances thereto and the use and occupancy thereof that may arise or become due prior to or during the Term (including Operating Expenses related to the period prior to the Term and payable during the Term) shall be paid by Tenant, and Landlord is not responsible for any costs, charges, expenses or outlays of any nature whatsoever arising during the Term from or relating to the Premises or the use or occupancy thereof; and Landlord, Landlord’s mortgagee or lender and their respective employees, shareholders, officers, directors, members, managers, trustees, partners or principals, disclosed or undisclosed, and all of their respective successors and assigns (hereinafter collectively referred to as the “Indemnitees” and each individually as an “Indemnitee”), shall be indemnified and saved harmless as provided below. The willful misconduct or
negligence of Landlord and the Indemnitee parties of Landlord shall not be imputed to Landlord’s mortgagee or lender and the Indemnitee parties of such mortgagee or lender. Tenant assumes the sole responsibility during the Term for the condition, use, operation, repair, maintenance, replacement of any and all components and systems of, and the underletting and management of, the Premises. Tenant shall and hereby does indemnify, defend and hold the Indemnitees harmless from and against any and all Losses (defined below) actually incurred by any or all of the Indemnitees with respect to, and to the extent of, matters that arise or accrue with respect to the Term of this Lease and in connection with any or all of the maintenance, repair and operation of the Premises (whether or not the same shall become payable during the Term); and the Indemnitees shall have no (a) responsibility in respect thereof and (b) liability for damage to the property of Tenant or any subtenant of Tenant on
any account or for any reason whatsoever, except in the event of (and then only to the extent of) such Indemnitee’s respective willful misconduct or negligence. It is the purpose and intention of the parties to this Lease that the Base Rent due hereunder shall be absolutely net to the Landlord and Landlord shall have no obligation or responsibility, of any nature whatsoever, to perform any tenant improvements; to provide any services; or to perform any repairs, maintenance or replacements in, to, at, on or under the Premises, whether for the benefit of Tenant or any other party, and that Tenant has the authority to operate, maintain and repair the Premises as it deems appropriate, in its sole discretion, subject to the terms of the Lease. 

2.4.2.       Except as otherwise expressly provided in Sections 18 and 21 of this Lease, this Lease shall not terminate, nor shall Tenant have any right to terminate this Lease or to be released or discharged from any obligations or liabilities hereunder for any reason, including, without limitation:  (i) any damage to or destruction of the Premises; (ii) any restriction, deprivation (including eviction) or prevention of, or any interference with, any use or the occupancy of the Premises (whether due to any default in, or failure of, Landlord’s title to the Premises or otherwise); (iii) any condemnation, requisition or other taking or sale of the use, occupancy or title of or to the Premises; (iv) any action,
omission or breach on the part of Landlord under this Lease or any other agreement between Landlord and Tenant; (v) the inadequacy or failure of the description of the Premises to 

 

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demise and let to Tenant the property intended to be leased hereby; (vi) any sale or other disposition of the Premises by Landlord; (vii) the impossibility or illegality of performance by Landlord or Tenant or both; (viii) any action of any court, administrative agency or other governmental authority; or (ix) any other cause, whether similar or dissimilar to the foregoing, any present or future law notwithstanding. Nothing in this paragraph shall be construed as an agreement by Tenant to perform any illegal act or to violate the order of any court, administrative agency or other governmental authority.

2.4.3.       Tenant will remain obligated under this Lease in accordance with its terms, and will not take any action to terminate (except in accordance with the provisions of Section 18 of this Lease), rescind or avoid this Lease for any reason, notwithstanding any bankruptcy, insolvency, reorganization, liquidation, dissolution or other proceeding affecting Landlord or any assignee of Landlord, or any action with respect to this Lease that may be taken by any receiver, trustee or liquidator or by any court. Tenant waives all rights at any time conferred by statute or otherwise to quit, terminate or surrender this Lease or the Premises, or to any abatement or deferment of any amount payable by Tenant hereunder, or for claims against any Indemnitee for any
Losses suffered by Tenant on account of any cause referred to in this Section 2.4 or otherwise (except claims directly arising out of the negligence or willful misconduct by such Indemnitee).

	
             
  	
            2.5.
 	
            Option to Renew.
 

2.5.1.       Tenant shall have the option (“Renewal Option”) to renew this Lease for three (3) consecutive terms of five (5) years each (each, a “Renewal Term”), on all the same terms and conditions set forth in this Lease, except that initial Base Rent during any Renewal Term shall be equal to Fair Market Rent (as defined in Section 2.5.2 below), and as of the first anniversary of the commencement of each Renewal Term and continuing on each anniversary thereof through the remainder of that Renewal Term, the Base Rent shall increase at the rate of two percent (2.0%), per annum, on a compounded basis. Tenant shall deliver written notice to Landlord
of Tenant’s election to exercise the Renewal Option (“Renewal Notice”) not less than twelve (12) months, nor more than eighteen (18) months, prior to the expiration date of the original Term or the then-current Renewal Term, as applicable; and if Tenant fails to timely deliver a Renewal Notice to Landlord, then Tenant shall automatically be deemed to have irrevocably waived and relinquished the Renewal Option.

2.5.2.       For the purposes of this Lease, “Fair Market Rent” shall be determined by Landlord, in good faith, based upon the annual base rental rates then being charged in the industrial market sector of the geographic area where the Building is situated for comparable space and for a lease term commencing on or about the commencement date of the applicable Renewal Term and equal in duration to the applicable Renewal Term, taking into consideration:  the geographic location, quality and age of the Building; the location and configuration of the relevant space within the Building; the extent of service to be provided to the proposed tenant thereunder; applicable distinctions between “gross” and “net” leases; the creditworthiness
and quality of Tenant; leasing commissions; and any other relevant term or condition in making such evaluation, all as reasonably determined by Landlord. In no event, however (and notwithstanding any provision to the contrary in this Section 2.5), shall the Fair Market Rent be less than an amount equal to the Base Rent in effect during the one (1) year period immediately preceding the expiration date of the then-applicable term (the “Renewal Rent Floor”). Landlord shall notify Tenant of Landlord’s determination of Fair Market Rent for any Renewal Term, in writing (the “Base Rent Notice”) within sixty (60) days after receiving the applicable Renewal Notice.

 

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2.5.3.       Tenant shall then have sixty (60) days after Landlord’s delivery of the Base Rent Notice in which to advise Landlord, in writing (the “Base Rent Response Notice”), whether Tenant (i) is prepared to accept the Fair Market Rent established by Landlord in the Base Rent Notice and proceed to lease the Premises, during the Renewal Term, at that Fair Market Rent; or (ii) elects to withdraw and revoke its Renewal Notice, whereupon the Renewal Option shall automatically be rendered null and void; or (iii) elects to contest Landlord’s determination of Fair Market Rent. In the event that Tenant fails to timely deliver the Base Rent Response Notice, then Tenant shall automatically be deemed to have elected (i) above. Alternatively, if
Tenant timely elects (ii), then this Lease shall expire on the original expiry date of the initial Term or the then current Renewal Term, as applicable. If, however, Tenant timely elects (iii), then the following provisions shall apply:

2.5.3.1.              The Fair Market Rent shall be determined by either the Independent Brokers or the Determining Broker, as provided and defined below, but in no event shall the Fair Market Rent be less than the Renewal Rent Floor.

2.5.3.2.               Within thirty (30) days after Tenant timely delivers its Base Rent Response Notice electing to contest Landlord’s determination of Fair Market Rent, each of Landlord and Tenant shall advise the other, in writing (the “Arbitration Notice”), of both (i) the identity of the individual that each of Landlord and Tenant, respectively, is designating to act as Landlord’s or Tenant’s, as the case may be, duly authorized representative for purposes of the determination of Fair Market Rent pursuant to this Section 2.5.3 (the “Representatives”); and (ii) a list of three (3) proposed
licensed real estate brokers, any of which may serve as one of the Independent Brokers (collectively, the “Broker Candidates”). Each Broker Candidate:

	
             
 	
            (i)
 	
            shall be duly licensed in the jurisdiction in which the Premises is located; and
 

	
             
 	
            (ii)
 	
            shall have at least five (5) years’ experience, on a full-time basis, leasing industrial space (warehouse/distribution/ancillary office) in the same general geographic area as that in which the Premises is located, and at least three (3) of those five (5) years of experience shall have been consecutive and shall have elapsed immediately preceding the date on which Tenant delivers the Renewal Notice.
 

2.5.3.3.               Within fourteen (14) days after each of Landlord and Tenant delivers its Arbitration Notice to the other, Landlord and Tenant shall cause their respective Representatives to conduct a meeting at a mutually convenient time and location. At that meeting, the two (2) Representatives shall examine the list of six (6) Broker Candidates and shall each eliminate two (2) names from the list on a peremptory basis. In order to eliminate four (4) names, first, the Tenant’s Representative shall eliminate a name from the list and then the Landlord’s Representative shall eliminate a name therefrom. The two (2) Representatives shall alternate in eliminating names from the list of six (6) Broker Candidates in this manner until each of them has
eliminated two (2) names. The two (2) Representatives shall immediately contact the remaining two (2) Broker Candidates (the “Independent Brokers”), and engage them, on behalf of Landlord and Tenant, to determine the Fair Market Rent in accordance with the provisions of this Section 2.5.3. 

 

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2.5.3.4.              The Independent Brokers shall determine the Fair Market Rent within thirty (30) days of their appointment. Within ten (10) days after appointment of the Independent Brokers, Landlord and Tenant shall each make a written submission to the Independent Brokers advising of the rate that the submitting party believes should be the Fair Market Rate, together with whatever written evidence or supporting data that the submitting party desires in order to justify its desired rate of Fair Market Rent; provided, in all events, however, that the aggregate maximum length of each party’s submission shall not exceed ten (10) pages (each such submission package, a “FMR Submission”). The Independent Brokers
shall be obligated to choose one (1) of the parties’ specific proposed rates of Fair Market Rent, without being permitted to effectuate any compromise position.

2.5.3.5.               In the event, however, that the Independent Brokers fail to reach agreement, within twenty (20) days after the date on which both Landlord and Tenant deliver the FMR Submissions to the Independent Brokers (the “Decision Period”), as to which of the two (2) proposed rates of Fair Market Rent should be selected, then, within five (5) days after the expiration of the Decision Period, the Independent Brokers shall jointly select a real estate broker who (x) meets all of the qualifications of a Broker Candidate, but was not included in the original list of six (6) Broker Candidates; and (y) is not affiliated with any or all of (A) either or both of the Independent Brokers and (B) the real estate
brokerage companies with which either or both of the Independent Brokers is affiliated (the “Determining Broker”). The Independent Brokers shall engage the Determining Broker on behalf of Landlord and Tenant (but without expense to the Independent Brokers), and shall deliver the FMR Submissions to the Determining Broker within five (5) days after the date on which the Independent Brokers select the Determining Broker pursuant to the preceding sentence (the “Submission Period”).

2.5.3.6.              The Determining Broker shall make a determination of the Fair Market Rent within twenty (20) days after the date on which the Submission Period expires. The Determining Broker shall be required to select one of the parties’ specific proposed rates of Fair Market Rent, without being permitted to effectuate any compromise position.

2.5.3.7.              The decision of the Independent Brokers or the Determining Broker, as the case may be, shall be conclusive and binding on Landlord and Tenant, and neither party shall have any right to contest or appeal such decision, except in case of fraud. 

2.5.3.8.               In the event that the initial Term or the then current Renewal Term, as applicable, expires and the subject Renewal Term commences prior to the date on which the Independent Brokers or the Determining Broker, as the case may be, renders their/its decision as to the Fair Market Rent, then from the commencement date of the subject Renewal Term through the date on which the Fair Market Rent is determined under this Section 2.5.3 (the “Determination Date”), Tenant shall pay monthly Base Rent to Landlord at a rate equal to 102% of the most recent rate of monthly Base Rent in effect on the expiration date of the initial Term or the immediately
preceding Renewal Term, as applicable (the “Temporary Base Rent”). Within ten (10) business days after the Determination Date, Landlord shall pay to Tenant, or Tenant shall pay to Landlord, depending on whether the Fair Market Rent is less than or greater than the Temporary Base Rent, whatever sum that Landlord or Tenant, as the case may be, owes the other (the “Catch-Up Payment”), based on the Temporary Base Rent actually paid and the Fair Market Rent due (as determined by the Independent Brokers or the Determining Broker, as the case may be) during that 

 

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portion of the Renewal Term that elapses before the Catch-Up Payment is paid, in full (together with interest thereon, as provided below). The Catch-Up Payment shall bear interest at the rate of Prime (defined below), plus two percent (2.0%) per annum, from the date each monthly component of the Catch-Up Payment would have been due, had the Fair Market Rent been determined prior to the commencement of the Renewal Term, through the date on which the Catch-Up Payment is paid, in full (inclusive of interest thereon). For purposes hereof, “Prime” shall mean the per annum rate of interest publicly announced by JPMorgan Chase Bank NA (or its successor), from time to time, as its “prime” or “base” or “reference” rate of interest. 

2.5.3.9.              The party whose proposed rate of Fair Market Rent is not selected by the Independent Brokers or the Determining Broker, as the case may be, shall bear all costs of all counsel, experts or other representatives that are retained by both parties, together with all other costs of the arbitration proceeding described in this Section 2.5.3, including, without limitation, the fees, costs and expenses imposed or incurred by any or all of the Independent Brokers and the Determining Broker. 

2.5.3.10.             Unless otherwise expressly agreed in writing, during the period of time that any arbitration proceeding is pending under this Section 2.5.3, Landlord and Tenant shall continue to comply with all those terms and provisions of this Lease that are not the subject of their dispute and arbitration proceeding under this Section 2.5.3, most specifically including, but not limited to, Tenant’s monetary obligations under this Lease; and, with respect to the payment of Base Rent during that portion of the Renewal Term that elapses during the pendency of any arbitration proceeding under this Section 2.5.3, the provisions of Section 2.5.3.8 shall apply.

	
             
  	
            2.5.4.
 	
            The Renewal Option is granted subject to all of the following conditions:
 

2.5.4.1.               As of the date on which Tenant delivers any Renewal Notice and continuing through the commencement date of the applicable Renewal Term, there shall not exist any uncured Default by Tenant under this Lease.

2.5.4.2.              There shall be no further right of renewal after the expiration of the third Renewal Term.

2.5.4.3.              The Renewal Option is personal to Tenant and may only be exercised by Tenant or any assignee of Tenant (provided such assignment was made with Landlord’s prior written consent and otherwise in accordance with the requirements of Section 8 or made without Landlord’s consent but in accordance with Section 8).

2.5.4.4.              The Premises shall be delivered to Tenant during the Renewal Term(s) on an “as-is” “where-is” basis, with no obligation on the part of Landlord to perform any tenant improvements to the Premises.

2.6.          Guaranty. Simultaneously with the execution and delivery of this Lease, Guarantor has executed and entered into the Guaranty Agreement in the form attached hereto as Exhibit E (the “Guaranty”), for the benefit of Landlord pursuant to which Guarantor has absolutely and unconditionally guaranteed the payment and performance of Tenant’s obligations hereunder.

 

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            3.
 	
            OPERATING EXPENSES.
 

3.1.          Definitional Terms Relating to Additional Rent. For purposes of this Section and other relevant provisions of the Lease:

3.1.1.       Operating Expenses. The term “Operating Expenses” shall mean all costs, expenses and charges of every kind or nature relating to, or incurred in connection with, the maintenance and operation of the Premises, including, but not limited to the following:  (i) Taxes, as hereinafter defined in Section 3.1.2; (ii) dues, fees or other costs and expenses, of any nature, due and payable to any association or comparable entity to which Landlord, as owner of the Premises, is a member or otherwise belongs and that governs or controls any aspect of the operation of the Premises; (iii) any so called “rent” or “revenue” taxes imposed on the Rent
payable hereunder; and (iv) any real estate taxes and common area maintenance expenses due and payable under any declaration of covenants, conditions and restrictions, reciprocal easement agreement or comparable arrangement that encumbers and benefits the Premises and other real property (e.g. a business park). Under no circumstances, however, shall Operating Expenses include:  (i) depreciation or amortization on the Premises or any fixtures or equipment installed therein, (ii) federal, state, or local income, margin, franchise, gift, transfer, excise, capital stock, estate, succession, or inheritance taxes, (iii) interest on debt or amortization payments on mortgages or deeds of trust or any other debt for borrowed money and costs or any expenses incurred by Landlord in connection with such debt and liens, (iv) costs incurred because Landlord violated any governmental rule or authority or as a result of Landlord’s negligence or willful misconduct; (v) costs or expenses of a
partnership, or other entity, which constitutes Landlord, which costs or expenses are not directly related to the Premises (such as accounting fees, tax returns, and income taxes of such entity), (vi) any sums that Landlord is required to pay Tenant pursuant to any other written agreement between Landlord and Tenant, (vii) sums reimbursed to Landlord by a third party, (viii) remediation of Hazardous Materials if such remediation is necessitated by Landlord’s acts or neglect; (ix) expenses for services provided by Landlord to the extent such expenses exceed those that would be charged by an unrelated third party charging competitive market rates, and (x) expenses incurred by Landlord that are not directly related to the Premises or its operations including, without limitation, compensation paid to employees of Landlord; however, Operating Expenses shall include those expenses, if any, incurred by Landlord in order to perform or provide any services required of Landlord under this
Lease or to provide any services specifically requested by Tenant (including a portion of the compensation paid to employees performing or providing such services, pro-rated to reflect the extent of the employee’s time spent performing or providing such services), subject to the limitation set forth in clause (ix) above.

	
             
  	
            3.1.2.
 	
            Taxes.
 

3.1.2.1.              The term “Taxes” shall mean (i) all governmental taxes, assessments, fees and charges of every kind or nature (other than Landlord’s federal, state, or local income, margin, franchise, gift, transfer, excise, capital stock, estate, succession, or inheritance taxes income taxes), whether general, special, ordinary or extraordinary, due at any time or from time to time, during the Term and any extensions thereof, in connection with the ownership, leasing, or operation of the Premises, or of the personal property and equipment located therein or used in connection therewith; and (ii) any reasonable expenses incurred by Landlord in contesting such taxes or assessments and/or the assessed value of
the Premises, if Landlord participates in a tax contest at Tenant’s request. For purposes hereof, Tenant shall be responsible for any Taxes that are due and 

 

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payable at any time or from time to time during the Term (including, but not limited to, those Taxes that accrued prior to the Commencement Date), and for its pro rata share of any Taxes that are assessed, become a lien, or accrue during any Operating Year but are not payable until after the Expiration Date, which obligation shall survive the termination or expiration of this Lease. Without in any way limiting Tenant’s obligation to pay any and all Taxes, Tenant hereby acknowledges that Tenant shall be solely responsible for any increase in Taxes which is the result of the loss of any tax abatement owed to, or expected by, Tenant pursuant to any tax abatement agreement to which Tenant is a party. To the extent that any retroactive tax liability arises pursuant to any tax abatement agreement to which Tenant is a party, Tenant shall be and remain liable for such retroactive liability, regardless of
whether said liability relates to a period of time or accrued prior to, or following, the Commencement Date. Notwithstanding the foregoing or anything to the contrary herein, Tenant shall be entitled to the benefits of all existing and future reduction or abatement of Taxes to the extent such reductions and abatements are granted by the applicable taxing authority and relate to the Term.

3.1.2.2.              Tenant shall have the right to contest the amount or validity, in whole or in part, of any Tax or to seek a reduction in the valuation of the Premises as assessed for real estate property tax purposes by appropriate proceedings diligently conducted in good faith (but only after the deposit or payment, whether under protest or otherwise, of any amounts required by applicable law to stay or prevent collection activities). No additional deposit shall be payable to Landlord in connection with any contest. If Tenant elects to initiate any proceeding referred to in this Section 3.1.2.2, Tenant shall promptly so advise Landlord, but Landlord shall not be required to join such proceeding, except to the extent
required by law, in which event Landlord shall, upon written request by Tenant, join in such proceedings or permit the same to be brought in its name, all at Tenant’s  sole expense. Landlord agrees to provide, at Tenant’s expense, whatever assistance Tenant may reasonably require in connection with any such contest initiated by Tenant. Tenant covenants that Landlord shall not suffer or sustain any costs or expenses (including attorneys’ fees) or any liability in connection with any such proceeding initiated by Tenant. No such contest initiated by Tenant shall subject Landlord to any civil liability or the risk of any criminal liability or forfeiture.

3.1.3.       Operating Year. The term “Operating Year” shall mean the calendar year commencing January 1st of each year during the Term. The first Operating Year under this Lease shall begin on January 1, 2007 and end on December 31, 2007.

3.2.          Payment of Operating Expenses. Tenant shall directly pay, on a timely basis and to the appropriate entity, all Operating Expenses and Taxes.

	
             
  	
            4.
 	
            USE OF PREMISES AND COMMON AREAS.
 

4.1.          Use of Premises. The Premises shall be used by the Tenant for the purpose(s) set forth in Section 1.7 above and for no other purpose whatsoever. Tenant shall not, at any time, use or occupy, or suffer or permit anyone to use or occupy, the Premises, or do or permit anything to be done in the Premises, in any manner that may (a) violate any Certificate of Occupancy for the Premises; (b) cause, or be likely to cause, injury to, or in any way impair the value or proper utilization of, all or any portion of the Premises (including, but not limited to, the structural elements of the Premises); (c) constitute a violation of the laws and requirements of any public authority or the requirements of insurance
bodies, or any covenant, condition or restriction affecting the Premises; (d) exceed the load bearing capacity of the floor of the Premises; (e) materially impair the appearance of 

 

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the Premises; or (f) have any detrimental environmental effect on the Premises which (i) arises out of a violation or violations of Environmental Laws or (ii) results in any material increased risk of liability to Landlord. On or prior to the date hereof, Tenant has completed and delivered for the benefit of Landlord a “Tenant Operations Inquiry Form” in the form attached hereto as Exhibit B describing the nature of Tenant’s proposed business operations at the Premises, which form is intended to, and shall be, relied upon by Landlord. From time to time during the Term (but no more often than once in any twelve month period unless Tenant is in default hereunder beyond applicable notice and cure periods or unless Tenant assigns this Lease or subleases all or any portion of the Premises, whether or not in accordance with Section 8), Tenant shall provide an updated and current Tenant Operations Inquiry Form within twenty (20) days after Landlord’s request therefor.

4.2.          Signage. Any and all signage must at all times fully comply with all applicable laws, regulations and ordinances. Tenant shall remove all signs of Tenant upon the expiration or earlier termination of this Lease and immediately repair any damage to the Premises caused by, or resulting from, such removal.

4.3.          Liens. During the Term, Tenant will promptly, but no later than forty-five (45) days after the date Tenant first has knowledge of the filing thereof, or such shorter period as shall prevent the forfeiture of the Premises, remove and discharge of record, by bond or otherwise, any charge, lien, security interest or encumbrance upon any of the Premises, Base Rent and Additional Rent which charge, lien, security interest or encumbrance arises for any reason (other than a result of Landlord’s act), including, but not limited to, all liens that arise out of the possession, use, occupancy, construction, repair or rebuilding of the Premises or by reason of labor or materials furnished, or claimed to have been furnished, to Tenant for the Premises,
but not including any encumbrances expressly permitted under this Lease or any mechanics liens created by Landlord. Nothing contained in this Lease shall be construed as constituting the consent or request of Landlord, express or implied, by inference or otherwise, to or for the performance of any contractor, laborer, materialman, or vendor of any labor or services or for the furnishing of any materials for any construction, alteration, addition, repair or demolition of or to the Premises or any part thereof. Notice is hereby given that, during the Term, Landlord will not be liable for any labor, services or materials furnished or to be furnished to Tenant, or to anyone holding an interest in the Premises or any part thereof through or under Tenant, and that no mechanics or other liens for any such labor, services or materials shall attach to or affect the interest of Landlord in and to the Premises, unless such labor, services or materials were placed in the Premises pursuant to a
written agreement entered into by Landlord. In the event of the failure of Tenant to discharge any charge, lien, security interest or encumbrances as aforesaid, Landlord may, if not discharged by Tenant within ten (10) business days after written notice to Tenant, discharge such items by payment or bond or both, and Section 23.4 hereof shall apply. Provided Tenant is diligently contesting any such lien or encumbrance in accordance with applicable law, in lieu of a bond Tenant shall have the option to deposit cash (or an irrevocable, standby letter of credit in form reasonably acceptable to Landlord) with Landlord in an amount sufficient to fully discharge such lien or encumbrance (as reasonably determined by Landlord, the “Lien Deposit”), which Lien Deposit may be used by Landlord to discharge, settle or otherwise satisfy the
applicable lien or encumbrance at any time after the commencement of foreclosure proceedings or before forfeiture of the Premises or any portion thereof.

 

10

5.             CONDITION AND DELIVERY OF PREMISES. Tenant agrees that Tenant (or an affiliate thereof) is the former owner of the Premises; as a result, Tenant is familiar with the condition of the Premises, and Tenant hereby accepts the foregoing on an “AS-IS,” “WHERE-IS” basis. Tenant acknowledges that neither Landlord nor Agent, nor any representative of Landlord, has made any representation as to the condition of the foregoing or the suitability of the foregoing for Tenant’s intended use. Tenant represents and warrants that Tenant has made its own inspection of the foregoing. Neither Landlord nor Agent shall be obligated to make any repairs, replacements or improvements (whether structural or otherwise) of any kind
or nature to the foregoing in connection with, or in consideration of, this Lease.

6.             SUBORDINATION; ESTOPPEL CERTIFICATES; ATTORNMENT.

6.1.          Subordination and Attornment. This Lease is and shall be subject and subordinate at all times to (a) all ground leases or underlying leases that may now exist or hereafter be executed affecting the Premises and (b) any mortgage or deed of trust that may now exist or hereafter be placed upon, and encumber, any or all of (x) the Premises; (y) any ground leases or underlying leases for the benefit of the Premises; and (z) all or any portion of Landlord’s interest or estate in any of said items; provided, however, that the foregoing provision shall only be applicable with respect to those mortgages, deeds of trust, and leases as to which Tenant has been provided a reasonable, normal and customary Subordination, Non Disturbance and Attornment
Agreement (the “SNDA”). No SNDA shall impose any economic obligations on Tenant in addition to those economic obligations imposed under this Lease, nor may any SNDA require any change in, or modification of, this Lease that shall impose any obligation or responsibility on Tenant. Tenant shall join with any such lessor, mortgagee or trustee and execute promptly (and, in any event, within ten (10) business days after receipt of a written request therefor) an SNDA.

6.2.          Estoppel Certificate. Tenant agrees, from time to time and within 10 business days after request by the Landlord, to deliver to the Landlord, or the Landlord’s designee, an estoppel certificate in reasonable, normal and customary form, as requested by Landlord, with such modifications as may be necessary to make such certificate factually accurate. Failure by Tenant to timely execute and deliver such certificate shall automatically constitute an acceptance of the Premises and acknowledgment by Tenant that the statements included therein are true and correct without exception.

6.3.          Transfer by Landlord. In the event of a sale or conveyance by Landlord of the Premises, the same shall operate to release Landlord from any future liability for any of the covenants or conditions, express or implied, herein contained in favor of Tenant, and in such event Tenant agrees to look solely to Landlord’s successor in interest (“Successor Landlord”) with respect thereto and agrees to attorn to such successor. 

7.             QUIET ENJOYMENT; COVENANTS OF LANDLORD. Subject to the provisions of this Lease, so long as Tenant pays all of the Rent and performs all of its other obligations hereunder, subject to applicable notice and cure periods and the other provisions hereof, Tenant shall not be disturbed in its possession of the Premises by Landlord, Agent, Successor Landlord or any other person lawfully claiming through or under Landlord. Landlord hereby covenants and agrees not to subdivide the Premises, construct additional improvements thereon, or add on to the Building without the prior written consent of Tenant, which may be granted or withheld in Tenant’s sole discretion.

 

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            8.
 	
            ASSIGNMENT AND SUBLETTING; LEASEHOLD MORTGAGE.
 

8.1.          Prohibition. Tenant acknowledges that this Lease and the Rent due under this Lease have been agreed to by Landlord in reliance upon Tenant’s reputation and creditworthiness and upon the continued operation of the Premises by Tenant for the particular use set forth in Section 1.7 above; therefore, Tenant shall not, whether voluntarily, or by operation of law, or otherwise:  (a) assign or otherwise transfer this Lease; (b) sublet the Premises or any part thereof, other than subleases to any party controlling, controlled by or under common control with Tenant, or allow the same to be used or occupied by anyone other than Tenant (or any other party controlling,
controlled by or under common control with Tenant); or (c) mortgage, pledge, encumber, or otherwise hypothecate this Lease or the Premises, or any part thereof, in any manner whatsoever, without in each instance obtaining the prior written consent of Landlord, which consent as to assignments and subleases shall not be unreasonably withheld, conditioned or delayed, and as to mortgages and other matters described in clause (c) above may be given or withheld in Landlord’s sole, but reasonable, discretion. Any purported assignment, mortgage, transfer, pledge or sublease made without the prior written consent of Landlord shall be absolutely null and void. No assignment of this Lease shall be effective and valid unless and until the assignee executes and delivers to Landlord any and all documentation reasonably required by Landlord in order to evidence assignee’s assumption of all obligations of Tenant hereunder. Any consent by Landlord to a particular assignment, sublease or
mortgage shall not constitute consent or approval of any subsequent assignment, sublease or mortgage, and Landlord’s written approval shall be required in all such instances. No consent by Landlord to any assignment or sublease shall be deemed to release Tenant from its obligations hereunder and Tenant shall remain fully liable for performance of all obligations under this Lease. 

8.2.          Rights of Landlord. If this Lease is assigned, or if the Premises (or any part thereof) are sublet or used or occupied by anyone other than Tenant, whether or not in violation of this Lease, Landlord or Agent may (without prejudice to, or waiver of its rights), after default by Tenant under this Lease which continues beyond applicable notice and cure periods, collect Rent from the assignee or, from the subtenant or occupant, and all amounts so collected shall be credited to any amounts due from Tenant hereunder. 

8.3.          Permitted Transfers. Notwithstanding anything in this Section 8 to the contrary, Tenant shall have the right, without Landlord’s consent and without causing a default of Tenant under this Lease, to assign this Lease to any parent entity or wholly-owned or substantially wholly-owned direct or indirect subsidiary entity of Tenant or Guarantor, in each of which events Tenant shall give prompt written notice of such fact to Landlord and, further, Tenant shall remain fully liable for performance of all obligations and liabilities under this Lease and the assignee shall be automatically deemed to have assumed all of Tenant’s obligations and liabilities under this Lease
for the benefit of Landlord. Tenant may also assign this Lease, without Landlord’s consent and without causing a default hereunder to any entity acquiring a majority of the voting stock of Tenant, or to any other change in voting control of Tenant (if Tenant is a corporation), or to a transfer of a majority (i.e., greater than 50% interest) of the general partnership or membership interests in Tenant (if Tenant is a partnership or a limited liability company) or managerial control of Tenant, or to any comparable transaction involving any other form of business entity, whether effectuated in one (1) or more transactions; or to any entity in connection with the sale of substantially all the Tenant’s assets (where such sale of assets is for a bona fide business purpose and not primarily to transfer Tenant’s interest in this Lease), and,  in the case of a sale of all or substantially all of Tenant assets only, Tenant shall no 

 

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longer be liable for the obligations under this Lease arising from and after the date of transfer (such assigning Tenant remaining liable for all obligations arising prior to the date of transfer), provided, in any of such events, the successor to Tenant (or any party remaining liable for the obligations of Tenant hereunder): (i) has a net worth at least equal to the net worth of Tenant as of the Commencement Date, or (ii) if (i) above is not satisfied, such successor is capable of satisfying Tenant’s obligations hereunder, in Landlord’s reasonable judgment. Any such permitted transferee shall execute and deliver to Landlord any and all documentation reasonably required by Landlord in order to evidence assignee’s assumption of all obligations of Tenant hereunder. Notwithstanding anything to the contrary contained in this Section 8.3,
in no event may Tenant assign, mortgage, transfer, pledge or sublease this Lease to any entity whatsoever if, at the time of such assignment, mortgage, transfer, pledge or sublease, Tenant is in default under this Lease beyond applicable notice and cure periods, without the prior written consent of Landlord, which may be granted or withheld in Landlord’s sole discretion for as long as such default remains uncured. 

	
             
  	
            9.
 	
            COMPLIANCE WITH LAWS.
 

9.1.          Compliance with Laws. During the Term, Tenant shall, at its sole expense (regardless of the cost thereof), comply with all local, state and federal laws, rules, regulations and requirements now or hereafter in force, and all judicial and administrative decisions in connection with the enforcement thereof pertaining to either or both of the Premises and Tenant’s use and occupancy thereof (collectively, “Laws”), whether such Laws (a) concern or address matters of an environmental nature; (b) require the making of any structural, unforeseen or extraordinary changes; and (c) involve a change of policy on the part of the body enacting the same, including, in all instances described in (a)
through (c), but not limited to, the Americans With Disabilities Act of 1990 (42 U.S.C. Section 12101 et seq.). If any license or permit is required for the conduct of Tenant’s business in the Premises, Tenant, at its expense, shall procure such license prior to the Commencement Date, and shall maintain such license or permit in good standing throughout the Term. Tenant shall give prompt notice to Landlord of any written notice it receives of the alleged violation of any Law or requirement of any governmental or administrative authority with respect to either or both of the Premises and the use or occupation thereof. 

9.2.          Hazardous Materials. If, at any time or from time to time prior to or during the Term (or any extension thereof), any Hazardous Material (defined below) is (or was, as the case may be) generated, transported, stored, used, treated or disposed of at, to, from, on or in the Premises: (i) Tenant shall, at its own cost, at all times comply (and cause Tenant’s Parties to comply) with all Laws relating to Hazardous Materials, and Tenant shall further, at its own cost, obtain and maintain in full force and effect at all times all permits and other approvals required in connection therewith; (ii) Tenant shall promptly provide Landlord or Agent with complete copies of all communications, permits or agreements with, from or issued by any governmental
authority or agency (federal, state or local) or any private entity relating in any way to the past or current (from time to time throughout the Term) presence, release, threat of release, or placement of Hazardous Materials on or in the Premises or any portion of the Premises, or the generation, transportation, storage, use, treatment, or disposal at, on, in or from the Premises, of any Hazardous Materials; (iii) Landlord, Agent and their respective agents and employees shall have the right to either or both (x) enter the Premises (with such notice as may be required under Section 16, except in the event of an emergency presenting an imminent threat of bodily injury, death, or destruction of property) and (y) conduct appropriate tests for the purposes of ascertaining Tenant’s compliance with all applicable Laws or permits relating in any way to the 

 

13

generation, transport, storage, use, treatment, disposal or presence of Hazardous Materials on, at, in or from all or any portion of the Premises; and (iv) upon written request by Landlord or Agent if Landlord or Agent has reasonable reason to believe that Tenant is in violation of this Section 9.2, Tenant shall provide Landlord with the results of reasonably appropriate tests of air, water or soil to demonstrate that Tenant complies with all applicable Laws or permits relating in any way to the generation, transport, storage, use, treatment, disposal or presence of Hazardous Materials on, at, in or from all or any portion of the Premises. This Section 9.2 does not authorize the generation, transportation, storage, use, treatment or disposal of any Hazardous Materials at, to, from, on or in the Premises in
contravention of this Section 9. Nothing herein is intended to or shall be deemed to prohibit Tenant from using Hazardous Materials on the Premises in quantities reasonably necessary for Tenant to conduct its business therein in compliance with Laws. Tenant covenants to investigate, clean up and otherwise remediate, at Tenant’s sole expense, any release of Hazardous Materials occurring in, at, on and under the Premises during the Term, as well as any release of Hazardous Materials that occurred in, at, on and under the Premises prior to the Term, but which release is identified, cited, or determined to exist at any time during the Term, unless caused by Landlord or a third party who has been determined to be responsible for such contamination by agreement or governing authority. Such investigation and remediation shall be performed only after Tenant has obtained Landlord’s prior written consent, which consent shall not be
unreasonably withheld. All remediation shall be performed in material compliance with Laws and to the reasonable satisfaction of Landlord (provided Landlord shall not require any remediation that is not required by applicable Laws). Tenant shall not enter into any settlement agreement, consent decree or other compromise with respect to any claims relating to any Hazardous Materials in any way connected to the Premises without first obtaining Landlord’s written consent (which consent shall not be unreasonably withheld) and affording Landlord the reasonable opportunity to participate in any such proceedings. As used herein, the term, “Hazardous Materials,” shall mean any waste, material or substance (whether in the form of liquids, solids or gases, and whether or not airborne) that is or may be deemed to be or include a pesticide, petroleum, asbestos, polychlorinated biphenyl, radioactive material, urea formaldehyde or any
other pollutant or contaminant that is or may hereafter be deemed to be hazardous, toxic, ignitable, reactive, corrosive, dangerous, harmful or injurious, or that presents a risk to public health or to the environment and that is or becomes regulated by any Law. The undertakings, covenants and obligations imposed on Tenant under this Section 9.2 shall survive the termination or expiration of this Lease for events arising during the Term.

	
             
  	
            10.
 	
            INSURANCE.
 

10.1.        Policies. Tenant shall purchase, at its own expense, and keep in force at all times during this Lease the policies of insurance set forth below (collectively, “Tenant’s Policies”). All Tenant’s Policies shall (a) be issued by an insurance company with a Best rating of A or better and otherwise reasonably acceptable to Landlord and shall be licensed to do business in the state in which the Premises is located; (b) provide that said insurance shall not be canceled or materially modified unless 30 days’ prior written notice shall have been given to Landlord; (c) provide for deductible amounts that are reasonably acceptable to Landlord (and its lender, if applicable); and (d) otherwise be in
such form, and include such coverages, as Landlord may reasonably require provided the same are normally and customarily required by prudent owners of industrial property or their lenders. The Tenant’s Policies described in Sections 10.2(i) and 10.2(ii) below shall (1) provide coverage on an occurrence basis; (2) except as otherwise specifically provided below, name Landlord and First Industrial, L.P. (and Landlord’s lender, if applicable) as additional insureds; (3) provide coverage, to 

 

14

the extent insurable, for the indemnity obligations of Tenant under this Lease; (4) contain a separation of insured parties provision (under Tenant’s commercial general or excess liability policy, but not under Tenant’s commercial property insurance policy); (5) be primary, not contributing with, and not in excess of, coverage that Landlord may carry; and (6) provide coverage with no exclusion for a pollution incident arising from a hostile fire. All Tenant’s Policies (or, at Landlord’s option, Certificates of Insurance and applicable endorsements, including, without limitation, an “Additional Insured-Managers or Landlords of Premises” endorsement) shall be delivered to Landlord prior to the Commencement Date and renewals thereof shall be delivered to Landlord’s Corporate and Regional Notice Addresses at least 30 days prior to the applicable expiration date of each
Tenant’s Policy. In the event that Tenant fails, at any time or from time to time, to comply with the requirements of the preceding sentence, Landlord may (i) order such insurance and charge the cost thereof to Tenant, which amount shall be payable by Tenant to Landlord upon demand, as Additional Rent or (ii) impose on Tenant, as Additional Rent, a monthly delinquency fee, for each month during which Tenant fails to comply with the foregoing obligation, in an amount equal to three percent (3%) of the Base Rent then in effect. Tenant shall give prompt notice to Landlord and Agent of any bodily injury, death, personal injury, advertising injury or property damage occurring in and about the Premises. 

10.2.        Coverages. Tenant shall purchase and maintain throughout the Term, a Tenant’s Policy(ies) of:  

	
             
 	
            (i)
 	
            commercial property insurance covering the improvements constructed, installed or located on the Premises (but excluding Tenant’s personal property). Such property insurance policy:  (A) shall name Landlord (and its lender(s), if applicable) as mortgagee/loss payee, as its (their respective) interest(s) may appear; (B) shall, at a minimum, cover both (x) the Building and (y) all other improvements, of any nature, situated on the Premises at any time, or from time to time during the Term, including, but not limited to, parking areas and landscaping (collectively, the “Insured Improvements”), against direct physical loss, as would be insured against under a standard ISO Special Form (“all risk” coverage); (C) shall be for no less than 100% of the full
replacement cost value of the Building and the Insured Improvements, with an “agreed amount” endorsement; (D) shall
include, at a minimum, the following extensions of coverage; building ordinance, inclusive of demolition and increased cost of
construction; terrorism; earthquake/earth movement; wind; flood; and boiler and machinery/equipment breakdown; (E) shall include
rental interruption insurance for twelve (12) months of rent and operating expense reimbursement for that same twelve (12) month
period; and (F) shall provide for a per occurrence deductible that is no greater than $100,000.00. The policy limits and sublimits
shall be acceptable to Landlord, in its reasonable discretion. For purposes of this Section
10.2, “full replacement cost value” shall be interpreted to mean the cost of replacing the
Premises without deduction for depreciation or wear and tear, less the cost of footings, foundations and other structures below
grade, which value shall be memorialized in a letter agreement (including an ACORD Certificate evidencing such required
insurance), to be executed by Landlord and Tenant not later than thirty (30) days after the Commencement Date, and which value
shall be trended-forward on each anniversary of the Commencement Date using the trending criteria generally applied by Factory
Mutual or other recognized insurance consultants; 
 

 

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            (ii)
 	
            commercial general or excess liability insurance, including personal injury and property damage, in the amount of not less than $2,000,000.00 per occurrence, and $5,000,000.00 annual general aggregate; 
 

	
             
 	
            (iii)
 	
            comprehensive automobile liability insurance covering Tenant against any personal injuries or deaths of persons and property damage based upon or arising out of the ownership, use, occupancy or maintenance of a motor vehicle at the Premises and all areas appurtenant thereto in the amount of not less than $1,000,000, combined single limit;
 

	
             
 	
            (iv)
 	
            commercial property insurance covering Tenant’s personal property in amounts reasonably determined by Tenant;
 

	
             
 	
            (v)
 	
            workers’ compensation insurance per the applicable state statutes covering all employees of Tenant (it being agreed that Tenant shall have the right to self-insure its obligations under this item (v));
 

	
             
 	
            (vi)
 	
            if Tenant handles, stores or utilizes Hazardous Materials in its business operations, pollution legal liability insurance; and 
 

	
             
 	
            (vii)
 	
            during any period of construction or during which any Alterations costing in excess of $150,000.00 are being made, builder’s risk coverage in an amount sufficient for such Alterations or other work or improvements performed on the Premises by Tenant; provided, however, that in the event that such builder’s risk coverage is required, such coverage may be provided through the so-called “course of construction” coverage provided in the property insurance policy described in Section 10.2(i) above, and Tenant shall cause such “course of construction” coverage to provide coverage in an amount equal to or greater than $3,000,000.00.
 

Notwithstanding anything to the contrary contained in this Section 10, upon the occurrence of a Default, Landlord shall have the right to, upon written notice to Tenant, purchase the aforementioned Tenant’s Policies on Tenant’s behalf and charge the cost thereof to Tenant, which amounts shall be payable by Tenant to Landlord, upon demand as Additional Rent.

10.3.        Blanket Policies. Notwithstanding anything to the contrary contained in this Section 10, Tenant’s obligation to carry insurance may be satisfied by coverage under a so-called “blanket policy” or policies of insurance; provided, however, that all insurance certificates provided by Tenant to Landlord pursuant to Section 10.1 above shall reflect that Tenant has been afforded coverage specifically with respect to the Premises. At Tenant’s option but no more than once per calendar year, Tenant may request that Landlord carry, for the benefit of Tenant, the casualty insurance required by 

 

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this Section 10 at Tenant’s expense for the
following calendar year provided such request is made not later than October 1 of the preceding calendar year. If Tenant makes
such request, Landlord shall promptly increase its coverage accordingly, and Tenant shall pay the premiums attributable to the
coverage required hereby within thirty (30) days after demand therefor.

	
             
  	
            11.
 	
            ALTERATIONS.
 

11.1.        Non-Structural Alterations. Tenant may, from time to time at its sole expense, make alterations or improvements in and to the Premises (hereinafter collectively referred to as “Alterations”) provided that:

	
             
 	
            (i)
 	
            such Alterations are non-structural and, if the cost of such Alterations (whether on a single occurrence basis, or a series of two or more related occurrences or items occurring within a six (6) month period) exceeds $150,000.00, Tenant delivers prior written notice thereof to Landlord (except that notice of de minimus Alterations (costing less than $50,000.00) will not be required); and
 

	
             
 	
            (ii)
 	
            Tenant, in every instance, complies with the terms and conditions of Section 11.3 below.
 

11.2.        Consent to Alterations. Landlord’s consent to Alterations, when required, shall not be unreasonably withheld, conditioned or delayed, provided that:  (a) the structural integrity of the Premises shall not be adversely affected; (b) the proper functioning of the mechanical, electrical, heating, ventilating, air-conditioning (“HVAC”), sanitary and other service systems of the Premises shall not be adversely affected and the usage of such systems by Tenant shall not be materially increased; (c) Tenant shall have appropriate insurance coverage, reasonably satisfactory to Landlord, regarding the performance and installation of the Alterations; and (d) Tenant shall have provided Landlord with reasonably
detailed plans for such Alterations in advance of requesting Landlord’s consent. Additionally, but subject to (a) through (d) above, Landlord shall not unreasonably withhold its consent to any Alterations:  (i) reasonably required in order to accommodate a sublease or an assignment of this Lease (provided such assignment or sublease is executed in compliance with Section 8); or (ii) reasonably required in order to accommodate Tenant’s business operations at the Premises. In each and every instance involving Alterations, the performance of the Alterations in question shall not have a material, adverse effect on the value of the Premises.

11.3.        Other Requirements. Before proceeding with any Alterations, Tenant shall (i) at Tenant’s expense, obtain all necessary governmental permits and certificates for the commencement and prosecution of Alterations; (ii) if Landlord’s consent is required for the planned Alteration, submit to Landlord, for its written approval, working drawings, preliminary plans and specifications and all permits for the work to be done and Tenant shall not proceed with such Alterations until it has received Landlord’s approval (if required), which must be delivered or specifically denied within ten (10) business days after request therefor, or will be deemed granted if Landlord’s consent is not expressly denied within five (5) business days after an additional
written request from Tenant; and (iii) cause those contractors, materialmen and suppliers engaged to perform the Alterations to deliver to Landlord certificates of insurance (in a form reasonably acceptable to Landlord) evidencing policies of builders risk (but only if the cost of such Alterations exceeds $150,000), commercial general liability insurance 

 

17

(providing the same coverages as required in Section 10 above) and workers’ compensation insurance. Such insurance policies shall satisfy the obligations imposed under Section 10. Tenant shall cause the Alterations to be performed in compliance with all applicable permits, Laws and requirements of public authorities. Tenant shall cause the Alterations to be diligently performed in a good and workmanlike manner, using new materials and equipment at least equal in quality and class to those existing as of the date of this Agreement. Upon the substantial completion of any Alterations, Tenant shall provide Landlord with “as built” plans, copies of all construction contracts, governmental permits and certificates and proof of payment for all labor and materials, including, without limitation, copies of
paid invoices and final lien waivers, subject to Tenant’s right to contest any liens as provided above. Landlord shall have the right to require that Tenant remove from the Premises, at the expiration or termination of this Lease, and at Tenant’s sole cost and expense, any Alterations for which Landlord’s consent is required under this Section 11, provided that Landlord advises Tenant, in writing, of this requirement at the time that Landlord consents to the applicable Alteration. The parties do not intend that the making of Alterations shall:  (A) constitute income to Landlord; or (B) result in a deferral or denial of some or all of the federal, state or municipal income tax deductions that Landlord would otherwise be permitted to report with respect to the Premises or this Lease; or (C) cause this Lease not to be a true lease for federal income tax purposes. 

12.           LANDLORD’S AND TENANT’S PREMISES. All trade fixtures, machinery and equipment (collectively, the “Tenant’s Property”) attached to, or built into, the Premises at the commencement of, or during the Term, whether or not placed there by or at the expense of Tenant, shall remain Tenant’s Property and shall be removed by Tenant at the Expiration Date. At or before the Expiration Date, or the date of any earlier termination, Tenant, at its expense, shall remove from the Premises all of Tenant’s personal property, Tenant’s Property and any Alterations that Landlord requires be removed pursuant to Section 11, and Tenant shall repair (to Landlord’s reasonable satisfaction) any damage to the Premises resulting from such installation and/or removal. Any other items of Tenant’s personal property that shall remain in the Premises for more than ten (10) days after the Expiration Date, or following an earlier termination date, may, at the option of Landlord, be deemed to have been abandoned, and in such case, such items may be retained by Landlord as its property or be disposed of by Landlord, in Landlord’s sole and absolute discretion and without accountability, at Tenant’s expense. Notwithstanding the foregoing provisions of this Section 12 or any other provision of this Lease to the contrary (including, without limitation, Section 21.2), if Landlord or Tenant terminates this Lease prior to the Expiration Date, then, provided that Tenant
has paid and continues to pay, on a timely basis, all Rent due under this Lease (if any), Tenant shall have thirty (30) days from the accelerated termination date in which to remove Tenant’s personal property and any Alterations that Landlord requires be removed pursuant to Section 11. If the foregoing sentence is applicable, then none of Tenant’s personal property and equipment may be considered abandoned, nor may Landlord retain and dispose of any of such personal property and equipment until such thirty (30) day period expires.

13.           REPAIRS AND MAINTENANCE. Tenant acknowledges that, with full awareness of its obligations under this Lease, and in light of the fact that Landlord acquired the Premises from Tenant (or an affiliate of Tenant) as of the Commencement Date, Tenant has accepted the condition, state of repair and appearance of the Premises. Except for normal wear and tear and events of damage, destruction or casualty to the Premises (as addressed in Section 18 below), Tenant agrees that, at its sole expense and throughout the Term, it shall put, keep and maintain the Premises, including any Alterations and any altered, rebuilt, additional or substituted building, structures and other 

 

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improvements thereto or thereon, in good order, condition, repair and appearance (allowing for normal wear and tear), and in a safe condition, repair and appearance (collectively, the “Required Condition”) and shall make all repairs and replacements necessary to ensure compliance with the Required Condition. Without limiting the foregoing, Tenant shall promptly make all structural and nonstructural, foreseen and unforeseen, ordinary and extraordinary changes, replacements and repairs of every kind and nature, and correct any patent or latent defects in the Premises, which may be required to put, keep and maintain the Premises in the Required Condition. Tenant will keep the Premises orderly and free and clear of rubbish. Tenant covenants to perform or observe all terms, covenants and conditions of any easement, restriction, covenant, declaration or
maintenance covenants of record (collectively, “Easements”) to which the Premises are currently subject or become subject pursuant to this Lease (it being agreed that Landlord shall not amend any Easement or agree to any additional Easement in any manner that will either limit, in any adverse respect, Tenant’s rights under this Lease or impose any new or increased burden, economic or otherwise, on Tenant, without Tenant’s prior written consent, which consent may be withheld in Tenant’s sole, but reasonable, discretion), whether or not such performance is required of Landlord under such Easements, including, without limitation, payment of all amounts due from Landlord or Tenant (whether as assessments, service fees or other charges) under such Easements. Tenant shall deliver to Landlord promptly, but in no event later than five (5) business days after receipt thereof, copies of all written notices received from any
party thereto regarding the non-compliance of the Premises or Landlord’s or Tenant’s performance of obligations under any Easements. Tenant shall, at its expense, use reasonable efforts to enforce compliance with any Easements benefiting the Premises by any other person or entity or property subject to such Easements. Landlord shall not be required to maintain, repair or rebuild, or to make any alterations, replacements or renewals of any nature to the Premises, or any part thereof, whether ordinary or extraordinary, structural or nonstructural, foreseen or not foreseen, or to maintain the Premises or any part thereof in any way or to correct any patent or latent defect therein except to the extent such action is necessitated by Landlord’s or Agent’s negligence or willful misconduct or by actions taken by or on behalf of Landlord in connection with Landlord’s inspection of the Premises prior to Landlord’s acquisition of title thereto. Tenant hereby
expressly waives any right to make repairs at the expense of Landlord which may be provided for in any Law in effect at the Commencement Date or that may thereafter be enacted. If Tenant shall abandon the Premises, it shall give Landlord immediate written notice thereof. 

14.           UTILITIES. Tenant shall purchase all utility services and shall provide for garbage, cleaning and extermination services for service to the Premises. Tenant shall pay the utility charges for the Premises directly to the utility or municipality providing such service, all charges shall be paid by Tenant before they become delinquent. Tenant shall be solely responsible for the repair and maintenance of any meters necessary in connection with such services. 

15.           INVOLUNTARY CESSATION OF SERVICES. If and to the extent Landlord directly provides any such services to Tenant, Landlord reserves the right, without any liability to Tenant and without affecting Tenant’s covenants and obligations hereunder, to stop service of any or all of the HVAC, electric, sanitary, elevator (if any), and other systems serving the Premises, or to stop any other services provided by Landlord under this Lease, whenever and for so long as may be necessary by reason of (i) accidents, emergencies, strikes, or (ii) any other cause beyond Landlord’s reasonable control. Further, it is also understood and agreed that Landlord or Agent shall have no liability or responsibility for a cessation of any services to the
Premises that occurs as a result of causes beyond Landlord’s or Agent’s reasonable control. No such interruption of any
service shall be deemed an eviction or disturbance of Tenant’s use and possession of the Premises or any part thereof, or
render Landlord or Agent liable to Tenant for damages, or relieve Tenant from performance of Tenant’s obligations under this
Lease, including, but not limited to, the obligation to pay Rent.

 

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16.           LANDLORD’S RIGHTS. Upon reasonable prior notice to Tenant (which may be delivered telephonically), and as long as Landlord does not unreasonably interfere with Tenant’s operations, Landlord, Agent and their respective agents, employees and representatives shall have the right to enter and/or pass through the Premises at any time or times (except in the event of emergency for which no prior notice is required) to examine and inspect the Premises and to show it to actual and prospective lenders, prospective purchasers or mortgagees of the Premises or providers of capital to Landlord and its affiliates; and in connection with the foregoing, to install a sign at or on the Premises to advertise the Premises for sale. During the period
of six months prior to the Expiration Date, unless a Renewal Option has been exercised (or at any time, if Tenant has abandoned the Premises or is otherwise in default beyond applicable notice and cure periods under this Lease), Landlord and its agents may exhibit the Premises to prospective tenants. Additionally, Landlord and Agent shall have the following rights with respect to the Premises, without being deemed an eviction or disturbance of Tenant’s use or possession of the Premises or giving rise to any claim for setoff or abatement of Rent:  (i) to have pass keys, access cards, or both, to the Premises; and (ii) to decorate, remodel, repair, alter or otherwise prepare the Premises for reoccupancy at any time after Tenant abandons the Premises for more than 30 consecutive days.

	
             
  	
            17.
 	
            NON-LIABILITY AND INDEMNIFICATION.
 

17.1.        Non-Liability. Except (and only if and) to the extent caused by the willful misconduct or negligence of Landlord or Agent, Landlord and Agent shall not be liable to Tenant for any loss, injury, or damage, to Tenant or to any other person, or to its or their property, irrespective of the cause of such injury, damage or loss and, in no event shall any affiliates, owners, partners, directors, officers, agents or employees of Landlord or Agent ever be liable hereunder. Further, except (and only if and) to the extent caused by the willful misconduct or negligence of Landlord or Agent, none of Landlord, Agent, any other managing agent, or their respective affiliates, owners, partners, directors, officers, agents and employees shall be liable to Tenant (a) for any
damage caused by other persons in, upon or about the Premises, or caused by operations in construction of any public or quasi-public work; (b) with respect to matters for which Landlord is liable, for consequential or indirect damages purportedly arising out of any loss of use of the Premises or any equipment or facilities therein by Tenant or any person claiming through or under Tenant; (c) for any defect in the Premises; (d) for injury or damage to person or property caused by fire, or theft, or resulting from the operation of heating or air conditioning or lighting apparatus, or from falling plaster, or from steam, gas, electricity, water, rain, snow, ice, or dampness, that may leak or flow from any part of the Premises, or from the pipes, appliances or plumbing work of the same.

17.2.        Tenant Indemnification. Except (and only if and to the extent of) Landlord’s or Agent’s negligence or willful misconduct, Tenant hereby indemnifies, defends, and holds Landlord, Agent and the Indemnitees (collectively, “Landlord Indemnified Parties”) harmless from and against any and all Losses arising from or in connection with any or all of:  (a) Tenant’s operation of the Premises during the Term; (b) Tenant’s conduct or management of the Premises or any business therein, or any work or Alterations done, or any condition created by any or all of Tenant and any or all of its member, partners, officers, directors, employees, invitees, managers, contractors, and 

 

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representatives (collectively, “Tenant’s Parties”), in or about the Premises during the Term; (c) any act, omission or negligence during the Term of any or all of Tenant and Tenant’s Parties; (d) any accident, injury or damage whatsoever occurring during the Term in, at or upon the Premises and caused by any or all of Tenant and Tenant’s Parties; (e) any breach by Tenant of any or all of its warranties, representations and covenants under this Lease; (f) any actions necessary to protect Landlord’s interest under this Lease in a bankruptcy proceeding or other proceeding under the Bankruptcy Code relating to this Lease or Tenant; (g) Tenant’s failure to comply with Section 9.2; and (h) any violation or alleged violation by any or all of Tenant and Tenant’s Parties of any Law;
and (i) any claims made against Landlord by any third party contractor engaged by Tenant (collectively, “Tenant’s Indemnified Matters”). In case any action or proceeding is brought against any or all of Landlord and the Landlord Indemnified Parties by reason of any of Tenant’s Indemnified Matters, Tenant, upon notice from any or all of Landlord, Agent or any Superior Party (defined below), shall resist and defend such action or proceeding by counsel reasonably satisfactory to Landlord. The term “Losses” shall mean all claims, demands, expenses, actions, judgments, damages (actual, but not consequential or punitive), penalties or fines imposed by any Law, liabilities, losses of every kind and nature (other than consequential or punitive damages), suits, administrative proceedings, costs and fees, including, without limitation, attorneys’ and consultants’
reasonable fees and expenses, and the costs of cleanup, remediation, removal and restoration, that are in any way related to any matter covered by the foregoing indemnity. The provisions of this Section 17.2 shall survive the expiration or termination of this Lease.

17.3.        Landlord Indemnification. Landlord hereby indemnifies, defends, and holds Tenant, Guarantor, and any of their affiliates (collectively, “Tenant Indemnified Parties”) harmless from and against any and all Losses arising from or in connection with any negligence or willful misconduct of Landlord and any or all of its member, partners, officers, directors, employees, invitees, managers, contractors, and representatives (collectively, “Landlord’s Parties”), in or about the Premises during the Term (collectively, “Landlord’s Indemnified Matters”). In case any action or proceeding is
brought against any or all of Tenant and the Tenant Indemnified Parties by reason of any of Landlord’s Indemnified Matters, Landlord, upon notice from any or all of Tenant, shall resist and defend such action or proceeding by counsel reasonably satisfactory to Tenant. Notwithstanding anything to the contrary set forth in this Lease, however, in all events and under all circumstances, the liability of Landlord to Tenant, whether under this Section 17.3 or any other provision of this Lease, shall be limited to the interest of Landlord in the Premises, and Tenant agrees to look solely to Landlord’s interest in the Premises (and the profits and proceeds thereof) for the recovery of any judgment or award against Landlord, it being intended that Landlord shall not be personally liable for any judgment or deficiency. The provisions of this Section 17.3 shall survive the expiration or
termination of this Lease. 

	
             
  	
            18.
 	
            CASUALTY AND CONDEMNATION.
 

18.1.        Casualty. If the Building and/or other improvements on the Premises shall be damaged or destroyed by fire or other casualty (each, a “Casualty”), Tenant, at Tenant’s sole cost and expense, shall promptly and diligently repair, rebuild or replace such Building and other improvements, so as to restore the Premises to the condition in which they were immediately prior to such damage or destruction, irrespective of whether any insurance proceeds are adequate or available to repair, rebuild or replace such Building. The net proceeds of any insurance (other than rent loss insurance) recovered by reason of such damage to, or such destruction of, the Building and/or other 

 

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improvements on the Premises in excess of the cost of adjusting the insurance claim and collecting the insurance proceeds (such excess being hereinafter called the “net insurance proceeds”) shall be held in trust by Landlord as loss payee or held by any holder of an interest in the Premises which may be superior to Tenant’s interest under this Lease (a “Holder”) and released for the purpose of paying the cost of restoring such Building and other improvements. Such net insurance proceeds shall be released to Tenant or Tenant’s contractors from time to time as the work progresses in accordance with the terms of a commercially reasonable construction contract requiring progress payments or payments on a monthly basis. Prior to the commencement of the work, Tenant shall deliver to
Landlord reasonable proof that such net insurance proceeds are adequate to pay the cost of such restoration. If such net insurance proceeds are not adequate, Tenant shall pay, out of funds other than such net insurance proceeds, the amount by which such cost will exceed such net insurance proceeds. Notwithstanding anything to the contrary herein, no insurance proceeds paid to Tenant due to loss or damage of Tenant’s furniture, fixtures, equipment or other personal property, or properly allocable to loss or damage of the same shall be paid to Landlord.

	
             
  	
            18.2.
 	
            Condemnation.
 

18.2.1.     Condemnation of Entire Premises. If all or substantially all of the Premises is taken or condemned for a public or quasi-public use (“Condemnation”), the provisions of Section 18.3 shall apply.

18.2.2.     Partial Condemnation. If less than all or substantially all of the Premises is subject to a Condemnation, Tenant shall restore the Building and other improvements upon the Premises to a condition and size as nearly comparable as reasonably possible to the condition and size thereof immediately prior to the Condemnation, and there shall be an equitable abatement of the Base Rent according to the value of the Premises before and after the Condemnation. In the event that the parties fail to agree upon the amount of such abatement, either party may submit the issue for arbitration pursuant to the rules of the American Arbitration Association and the determination or award rendered by the arbitrator(s) shall be final, conclusive and binding upon the parties and not subject to
appeal, and judgment thereon may be entered in any court of competent jurisdiction.

18.2.3.     Award. Tenant shall have the right to make a claim against the condemnor for moving and related expenses that are payable to tenants under applicable law without reducing the awards otherwise payable to Landlord and the Holders. Except as aforesaid, Tenant hereby waives all claims against Landlord and all claims against the condemnor, and Tenant hereby assigns to Landlord all claims against the condemnor including, without limitation, all claims for leasehold damages and diminution in the value of Tenant’s leasehold interest, subject to the provisions of this Section 18.2.3. If only part of the Premises is Condemned, the net proceeds of any Condemnation award recovered by reason of any taking or Condemnation of the
Premises in excess of the cost of collecting the award and in excess of any portion thereof attributable to the then-current market value of the land taken or Condemned (such excess being hereinafter called the “net condemnation proceeds”) shall be held in trust by Landlord or any Holder and released for the purpose of paying the cost of restoring the Building and other improvements damaged by reason of the taking or Condemnation. Tenant shall perform such restoration, and such net Condemnation proceeds shall be released to Tenant or Tenant’s contractors from time to time as the work progresses. Prior to the commencement of the work, Tenant shall deliver to Landlord reasonable proof that such net condemnation proceeds are adequate to pay the cost of such restoration. If such net condemnation 

 

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proceeds are not adequate, Tenant shall pay, out of funds other than such net condemnation proceeds, the amount by which such cost will exceed such net condemnation proceeds and shall furnish proof to Landlord of the payment of such excess for work performed. If such net condemnation proceeds are more than adequate, the amount by which such net condemnation proceeds exceed the cost of restoration will be retained by Landlord or applied to repayment of any mortgage loan secured by the Premises. In the event that the parties fail to agree upon the portion of the award attributable to the then-current market value of the land taken or Condemned, either party may submit the issue for arbitration pursuant to the rules then obtaining of the American Arbitration Association and the determination or award rendered by the arbitrator(s) shall be final, conclusive and binding upon the parties and not subject to
appeal, and judgment thereon may be entered in any court of competent jurisdiction. Notwithstanding anything to the contrary herein, no condemnation proceeds paid to Tenant due to loss or damage of Tenant’s furniture, fixtures, equipment or other personal property, or properly allocable to loss or damage of the same shall be paid to Landlord.

18.2.4.     Temporary Taking. If the condemnor should take only the right to possession for a fixed period of time or for the duration of an emergency or other temporary condition (a “Temporary Taking”), then, notwithstanding anything hereinabove provided, this Lease shall continue in full force and effect without any abatement of rent, but the amounts payable by the condemnor with respect to any period of time prior to the expiration or sooner termination of this Lease shall be paid by the condemnor to Landlord and all such amounts shall be credited to Tenant’s account up to the portion of the Rent allocable to the area that is subject to the Temporary Taking only. If the amounts payable hereunder by the condemnor are
paid in monthly installments, Landlord shall apply the amount of such installments, or as much thereof as may be necessary for the purpose, toward the amount of Rent due from Tenant as rent for that period, and Tenant shall pay to Landlord any deficiency between the monthly amount thus paid by the condemnor and the amount of the Rent, while Landlord shall pay over to Tenant any excess of the amount of the award over the amount of the Rent.

	
             
  	
            18.3.
 	
            Termination of Lease Following Major Casualty of Major Condemnation.
 

18.3.1.     If a Casualty or Condemnation shall affect all or a substantial portion of the Premises, and:

 18.3.1.1.                in the case of a Casualty, (a) if such Casualty (i) occurs during the final twenty-four (24) months of the Term (as it may have been extended prior to the occurrence of the Casualty; or (ii) shall be deemed a “total loss” for insurance purposes or shall be determined to be a loss of such dimension that the Premises cannot be completely restored or rebuilt within two hundred seventy (270) days computed from the hypothetical date of the commencement of construction; or (b) under then-applicable Laws, the Premises cannot be restored to substantially the same condition as existed immediately prior to the Casualty; or (c) in the event that Landlord maintains the property insurance, rather than Tenant, and the net
insurance proceeds (exclusive of the deductible, which shall be paid by Tenant) are not sufficient, in the mutual and reasonable opinions of Landlord and Tenant to restore the Premises to substantially the same condition as existed immediately prior to the Casualty (any of (a), (b) or (c), a “Major Casualty”); or

 

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18.3.1.2.                in the case of a Condemnation (other than a Temporary Taking):  (a) such Condemnation shall, in Tenant’s and Landlord’s mutual and reasonable judgment, render the Premises unsuitable for restoration for continued use and occupancy of Tenant’s business; or (b) under then-applicable Laws, the Premises cannot be restored to substantially the same condition as existed immediately prior to the Condemnation; or (c) in the mutual and reasonable opinion of Landlord and Tenant, the net condemnation proceeds are insufficient to restore the Premises to a condition that will permit Tenant to continue to operate its business in the Premises in substantially the same fashion as Tenant operated immediately prior to the
Condemnation (any of (a), (b) or (c), a “Major Condemnation”); 

then Tenant may, at its option, exercisable not later than sixty (60) days after the date on which the casualty or condemnation proceeds are known, deliver to Landlord each of the following:  (A) notice (a “Termination Notice”) of its intention to terminate this Lease on the next rental payment date that occurs not less than sixty (60) days after the delivery of such notice (the “Termination Date”); (B) in the case of a Major Condemnation, a certificate of an authorized officer of Tenant describing the event giving rise to such termination; or in the case of a Major Casualty, (x) the certificate of an architect licensed in the state in which the Premises is located stating that the architect has determined, in its good faith judgment, that the
Premises cannot be completely restored or rebuilt for continued use and occupancy in Tenant’s business in a manner consistent with the operation of Tenant’s business immediately prior to the occurrence of the Major Casualty within two hundred seventy (270) days computed from the hypothetical date of commencement of such construction or (y) written confirmation from the issuer of  the applicable insurance policy that it will treat the damage to the Building as a “total loss”; and (C) an irrevocable offer (an “Event of Loss Purchase Offer”) by Tenant to Landlord to purchase the Premises on the Termination Date. 

18.4.        Acceptance or Rejection of Event of Loss Purchase Offer. If Landlord shall reject the Event of Loss Purchase Offer by written notice given to Tenant not later than fifteen (15) days prior to the Termination Date, this Lease shall terminate on the Termination Date, except with respect to obligations and liabilities of Tenant or Landlord hereunder, actual or contingent, which have arisen on or prior to the Termination Date, upon payment by Tenant of all of the Base Rent, Additional Rent and other sums then due and payable or accrued hereunder to and including the Termination Date, and the net condemnation proceeds or net insurance proceeds (as the case may be) shall belong to Landlord. Tenant shall, on or before the Termination Date,
execute and deliver to Landlord an outright assignment of such proceeds in form and substance reasonably acceptable to Landlord
and pay to Landlord an amount equal to any applicable insurance deductible or self-insurance amounts. Unless Landlord shall have
rejected the Event of Loss Purchase Offer in accordance with this Section 18.4,
Landlord shall be conclusively considered to have accepted the Event of Loss Purchase Offer. In the event Landlord accepts (or is
deemed to have accepted) the Event of Loss Purchase Offer, then, on the Termination Date (1) Tenant shall pay to Landlord a
purchase price determined pursuant to Exhibit D attached hereto, (2) Landlord shall
convey the Premises to Tenant or its designee, and (3) Landlord shall assign to Tenant or its designee all of Landlord’s
interest in the net condemnation proceeds or net insurance proceeds (as the case may be), by assignment in form and substance
reasonably acceptable to Tenant or, if Landlord has already received all or a portion of such net condemnation proceeds or net
insurance proceeds (as the case may be), then Landlord shall pay the same to Tenant or Tenant’s designee after deducting
Landlord’s costs payable by Tenant hereunder. Such sale shall otherwise be consummated in accordance with the terms set forth
in Section 18.5 below. In the event Tenant fails

 

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to deliver the Termination Notice and the Event of Loss Purchase Offer in accordance with the time deadlines set forth in this Section 18, then, at Landlord’s election, Tenant shall have no right to terminate this Lease or right to make an offer to purchase the Premises, and the Lease will continue in full force and effect.

18.5.        Closing/Conveyance Procedures. In the event, pursuant to the terms and conditions of Section 18.4 above, Landlord is to convey its interest in the Premises to Tenant as a result of an Event of Loss Purchase Offer, the following provisions shall apply:

18.5.1.     The purchase of the Premises contemplated herein shall be consummated at a closing (“Loss Closing”) to take place at the offices of Landlord or Landlord’s counsel. The Loss Closing shall occur on the date (the “Loss Closing Date”) which is no later than sixty (60) days after Landlord’s receipt of a timely Termination Notice or such other date as the parties shall mutually agree in writing. The Loss Closing shall be effective as of 11:59 p.m. on the Loss Closing Date. Time is of the essence.

18.5.2.     The total purchase price to be paid to Landlord by Tenant at the Loss Closing for the sale hereunder shall be an amount equal to the applicable purchase price set forth on Exhibit D attached hereto. In the event of a Loss Closing hereunder, Tenant shall not have the right to escrow or hold back any portion of the purchase price hereunder. The purchase price shall be paid to Landlord at the Loss Closing, by federal wire transfer of immediately available funds.

18.5.3.     At the Loss Closing, Landlord shall convey fee simple title to the Premises to Tenant (or its assignee or designee) pursuant to a quitclaim deed, subject to (a) Taxes; (b) those matters and exceptions shown in Landlord’s existing owner’s policy of title insurance dated December 28, 2006, issued by First American Title Insurance Company (File No. NCS 266083 Mpls.) and the survey prepared by Frederick, Seibert & Associates, Inc. dated December 22, 2006 as Job Number 3578; (c) those matters that may be otherwise specifically approved, in writing, by Tenant, such approval not to be unreasonably withheld, delayed or denied, or otherwise deemed approved or accepted by Tenant, or that otherwise result from the construction of any improvements or Alterations by Tenant or the construction of any
Expansion Improvements by Landlord; (d) matters arising out of any act of Tenant or any or all of its affiliates, representatives, lenders, agents, contractors, employees or invitees; and (e) any lien (including, without limitation, any mortgages or deeds of trust), claim or encumbrance or other matter, except liens, claims, adverse encumbrances directly caused by any act of Landlord or its affiliates, representatives, lenders, agents, contractors or  employees.

18.5.4.     The sale of the Premises as provided for herein shall be made on a strictly “AS IS,” “WHERE-IS” basis as of the Loss Closing Date, without any representations or warranties, of any nature whatsoever from Landlord. Landlord hereby specifically disclaims any warranty (oral or written) concerning:  (i) the nature and condition of the Premises and the suitability thereof for any and all activities and uses that Tenant may elect to conduct thereon, (ii) the manner, construction, condition and state of repair or lack of repair of any improvements located thereon, (iii) the nature and extent of any right-of-way, lien, encumbrance, license, reservation, condition or otherwise, (iv) the compliance of the Premises or its operation with any laws, rules, ordinances, or regulations of any
government or other body; and (v) any other matter whatsoever. Tenant expressly acknowledges that, in consideration of the agreements of Landlord herein, LANDLORD MAKES NO WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED, OR ARISING BY OPERATION 

 

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OF LAW, INCLUDING, BUT NOT LIMITED TO, ANY WARRANTY OF QUANTITY, QUALITY, CONDITION, HABITABILITY, MERCHANTABILITY, SUITABILITY OR FITNESS FOR A PARTICULAR PURPOSE OF THE PREMISES, ANY IMPROVEMENTS LOCATED THEREON, OR ANY SOIL CONDITIONS RELATED THERETO. TENANT SPECIFICALLY ACKNOWLEDGES THAT TENANT IS NOT RELYING ON (AND LANDLORD HEREBY DISCLAIMS AND RENOUNCES) ANY REPRESENTATIONS OR WARRANTIES MADE BY OR ON BEHALF OF LANDLORD OF ANY KIND OR NATURE WHATSOEVER.

18.5.5.     If Tenant fails to timely perform or satisfy any of its obligations imposed under this Section 18, including its obligation to timely close on the purchase of the Premises, then such failure shall constitute a default by Tenant under this Lease (for which there is no cure period), and Landlord shall have all rights and remedies available to it under this Lease, at law or in equity (including, without limitation the right to file an action to specifically enforce the terms of this Section 18), with respect to such default.

18.5.6.     Upon the purchase of the Premises pursuant to the provisions of this Section 18, this Lease shall terminate except for provisions under this Lease that by their terms specifically survive.

18.5.7.     Landlord and Tenant each hereby indemnify, protect and defend and hold the other harmless from and against all Losses resulting from the claims of any broker, finder, or other such party claiming by, through or under the acts or agreements of the indemnifying party. The obligations of the parties pursuant to this Section 18 shall survive any termination of this Lease.

18.5.8.     There shall be no prorations of any cost items relating to the Premises, whether Taxes, Operating Expenses or otherwise; provided, however, that if and to the extent that, as of the Loss Closing, Landlord has paid any bills for any ownership expenses incurred (prior to the Loss Closing) in connection with the ownership and operation of the Premises and, under the terms of this Lease, Tenant would be required to reimburse Landlord for some or all of such expenses, then at the Loss Closing, Tenant shall be required to pay to Landlord, in addition to the purchase price set forth above, any such accrued Operating Expenses (including, but not limited to, Taxes).

18.5.9.     Provided the Loss Closing is consummated in accordance with this Section 18, Tenant shall pay for all closing costs, including, but not limited to, the cost to record the deed, any transfer taxes, any closing escrow fees, the costs of any title insurance policy, and the cost of the survey. Tenant shall be solely responsible for procuring the title insurance policy and the survey and in no event shall the procurement of those items be a condition precedent to Tenant’s obligation to acquire the Premises. All other costs shall be paid in accordance with local custom. Each of Landlord and Tenant shall be responsible for their respective attorneys’ fees.

19.           SURRENDER AND HOLDOVER. On the last day of the Term, or upon any earlier termination of this Lease, or upon any re-entry by Landlord upon the Premises:  (a) Tenant shall quit and surrender the Premises to Landlord “broom-clean” (as defined by Exhibit C, attached hereto and incorporated herein by reference), and in a condition that would reasonably be expected with normal and customary use in accordance with prudent operating practices and in accordance with the covenants and requirements imposed under this Lease, subject only to ordinary wear and tear (as is attributable to deterioration by reason of time and use, in spite of
Tenant’s reasonable care) and losses 

 

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by casualty or condemnation not required to be repaired or restored by Tenant pursuant to the provisions hereof; (b) Tenant shall remove all of Tenant’s personal property therefrom, except as otherwise expressly provided in this Lease, and (c) Tenant shall surrender to Landlord any and all keys, access cards, computer codes or any other items used to access the Premises. Upon prior notice (which may be delivered telephonically), Landlord shall be permitted to inspect the Premises in order to verify compliance with this Section 19 at any time prior to (x) the Expiration Date, (y) the effective date of any earlier termination of this Lease, or (z) the surrender date otherwise agreed to in writing by Landlord and Tenant. The obligations imposed under the first sentence of this Section 19 shall survive
the termination or expiration of this Lease. If Tenant remains in possession after the Expiration Date hereof or after any earlier termination date of this Lease or of Tenant’s right to possession:  (i)  Tenant shall be deemed a tenant-at-will;  (ii) Tenant shall pay 125% of the Base Rent last prevailing hereunder, and also shall pay all actual damages (other than consequential or punitive damages) sustained by Landlord, directly by reason of Tenant’s remaining in possession after the expiration or termination of this Lease;  (iii) there shall be no renewal or extension of this Lease by operation of law; and (iv) the tenancy-at-will may be terminated by either party hereto upon 30 days’ prior written notice given by the terminating party to the non-terminating party. The provisions of this Section 19 shall not constitute a waiver by Landlord of any re-entry rights of Landlord provided hereunder or by law.

	
             
  	
            20.
 	
            EVENTS OF DEFAULT.
 

20.1.        Bankruptcy of Tenant. It shall be a default by Tenant under this Lease (“Default” or “Event of Default”) if Tenant or Guarantor makes an assignment for the benefit of creditors, or files a voluntary petition under any state or federal bankruptcy (including the United States Bankruptcy Code) or insolvency law, or an involuntary petition is filed against Tenant or Guarantor under any state or federal bankruptcy (including the United States Bankruptcy Code) or insolvency law that is not dismissed within 90 days after filing, or whenever a receiver of Tenant or Guarantor, or of, or for, the property of Tenant or Guarantor shall be appointed (and, in
the case of an involuntary receivership, such receivership has not been vacated or set aside within sixty (60) days thereafter), or Tenant or Guarantor admits it is insolvent or is not able to pay its debts as they mature. 

20.2.        Default Provisions. In addition to any Default arising under Section 20.1 above, each of the following shall constitute a Default:  (a) if Tenant fails to pay Rent or any other payment when due hereunder within ten (10) days after written notice from Landlord of such failure to pay on the due date; provided, however, that if in any consecutive 12 month period, Tenant shall, on two (2) separate occasions, fail to pay any installment of Rent on the date such installment of Rent is due, then, on the third such occasion and on each occasion thereafter on which Tenant shall fail to pay an installment of Rent on the date such installment of Rent is due, Landlord shall be relieved from any obligation to provide notice
to Tenant, and Tenant shall then no longer have a ten day period in which to cure any such failure; (b) if Tenant fails, whether by action or inaction, to timely comply with, or satisfy, any or all of the obligations imposed on Tenant under this Lease (other than the obligation to pay Rent) for a period of 30 days after Landlord’s delivery to Tenant of written notice of such default under this Section 20.2(b); provided, however, that if the default cannot, by its nature, be cured within such 30 day period, but Tenant commences and diligently pursues a cure of such default promptly within the initial 30 day cure period, then, as long as Tenant continues to diligently pursue such a cure, Landlord shall not exercise its remedies under Section 21 unless such default remains uncured for more than 120 days after the initial delivery of Landlord’s original default notice; and, at
Landlord’s election; (c) if Tenant abandons the Premises during the Term; or (d) if Guarantor defaults under the Guaranty
Agreement.

 

27

20.3.        Landlord’s Default. In the event that Landlord defaults in the observance or performance of any term or condition required to be performed by Landlord hereunder, Tenant may elect either to (i) act to cure and remedy such default hereunder by Landlord or (ii) commence an action in a court of competent jurisdiction to compel performance by Landlord hereunder; provided, however, that Tenant may not exercise either of such remedies without first providing written notice of the alleged default to Landlord, setting forth, with reasonable specificity and detail, the nature of such default, and thereafter permitting Landlord a 30 day period to cure such default (which cure period may be extended if Landlord is diligently pursuing performance of the
applicable cure, but such cure is not completed within the 30 day period). Upon expiration of Landlord’s cure period, Tenant shall deliver written notice to Landlord advising of Tenant’s election of (i) or (ii) above. The remedies provided in (i) and (ii) are Tenant’s sole and exclusive remedies, whether at law or in equity. In the event that Tenant elects alternative (i), Landlord shall reimburse Tenant for all reasonable third-party costs and expenses actually expended by Tenant to perform any obligation of Landlord actually and properly owing hereunder. In connection with the exercise of the foregoing remedies or otherwise, Tenant shall not be entitled to any abatement, deduction or set off against the Rent payable hereunder. 

	
             
  	
            21.
 	
            RIGHTS AND REMEDIES.
 

21.1.        Landlord’s Cure Rights Upon Default of Tenant. If a Default occurs, then Landlord may (but shall not be obligated to) cure or remedy the Default for the account of, and at the expense of, Tenant, but without waiving such Default.

21.2.        Landlord’s Remedies. In the event of any Default by Tenant under this Lease, Landlord, at its option, may, in addition to any and all other rights and remedies provided in this Lease or otherwise at law or in equity do or perform any or all of the following:

21.2.1.     Terminate Tenant’s right to possession of the Premises by any lawful means, in which case this Lease shall terminate and Tenant shall immediately surrender possession to Landlord. In such event, Landlord shall be entitled to recover from Tenant all of:  (i) the unpaid Rent that is accrued and unpaid as of the date on which this Lease is terminated; (ii) the worth, at the time of award, of the amount by which (x) the unpaid Rent that would otherwise be due and payable under this Lease (had this Lease not been terminated) for the period of time from the date on which this Lease is terminated through the Expiration Date exceeds (y) the amount of such rental loss that could have been reasonably avoided; and (iii) any other amount necessary to compensate Landlord for all the detriment proximately caused
by the Tenant’s failure to perform its obligations under this Lease or which, in the ordinary course of events, would be likely to result therefrom, including but not limited to, the cost of recovering possession of the Premises, expenses of reletting, including renovation and alteration of the Premises, reasonable attorneys’ fees, and that portion of any leasing commission paid by Landlord in connection with this Lease applicable to the unexpired Term (as of the date on which this Lease is terminated). The worth, at the time of award, of the amount referred to in provision (ii) of the immediately preceding sentence shall be computed by discounting such amount at the per annum discount rate of the Federal Reserve Bank of the District within which the Premises are located at the 

 

28

time of award, plus one percent (1.0%) per annum. Efforts by Landlord to mitigate damages caused by Tenant’s Default shall not waive Landlord’s right to recover damages under this Section 21.2. If this Lease is terminated through any unlawful entry and detainer action, Landlord shall have the right to recover in such proceeding any unpaid Rent and damages as are recoverable in such action, or Landlord may reserve the right to recover all or any part of such Rent and damages in a separate suit; or

21.2.2.     Continue the Lease and Tenant’s right to possession and recover the Rent as it becomes due. Acts of maintenance, efforts to relet, and/or the appointment of a receiver to protect the Landlord’s interests shall not constitute a termination of the Tenant’s right to possession; or

21.2.3.     Pursue any other remedy now or hereafter available under the laws of the state in which the Premises are located.

21.2.4.     Without limitation of any of Landlord’s rights in the event of a Default by Tenant, Landlord may also exercise its rights and remedies with respect to any security held or maintained by Landlord.

Any and all personal property of Tenant that may be removed from the Premises by Landlord pursuant to the authority of this Lease or of law may be handled, removed or stored by Landlord at the sole risk, cost and expense of Tenant, and in no event or circumstance shall Landlord be responsible for the value, preservation or safekeeping thereof. Tenant shall pay to Landlord, upon demand, any and all expenses incurred in such removal and all storage charges for such property of Tenant so long as the same shall be in Landlord’s possession or under Landlord’s control. Any such property of Tenant not removed from the Premises as of the Expiration Date or any other earlier date on which this Lease is terminated shall be conclusively presumed to have been conveyed by Tenant to Landlord under this Lease as in a bill of sale, without further payment or credit by Landlord to Tenant. Neither expiration or
termination of this Lease nor the termination of Tenant’s right to possession shall relieve Tenant from its liability under the indemnity provisions of this Lease.

21.3.        Additional Rights of Landlord. All sums advanced by Landlord or Agent on account of Tenant under this Section, or pursuant to any other provision of this Lease, and all Base Rent and Additional Rent, if delinquent or not paid by Tenant and received by Landlord when due hereunder, shall bear interest at the rate of 2% per annum above the “prime” or “reference” or “base” rate (on a per annum basis) of interest publicly announced as such, from time to time, by the JPMorgan Chase Bank NA, or its successor (“Default Interest”), from the due date thereof (provided, however, that if Tenant is entitled to notice and opportunity to cure a monetary default under Section 20.2, then such interest shall not accrue until expiration of such cure period) until paid, and such interest shall be and constitute Additional Rent and be due and payable upon Landlord’s or Agent’s submission of an invoice therefor. The various rights, remedies and elections of Landlord reserved, expressed or contained herein are cumulative and no one of them shall be deemed to be exclusive of the others or of such other rights, remedies, options or elections as are now or may hereafter be conferred upon Landlord by law.

21.4.        Event of Bankruptcy. In addition to, and in no way limiting the other remedies set forth herein, Landlord and Tenant agree that if Tenant ever becomes the subject of a voluntary or involuntary bankruptcy, reorganization, composition, or other similar type proceeding under the 

 

29

federal bankruptcy laws, as now enacted or hereinafter amended, then:  (a) “adequate assurance of future performance” by Tenant pursuant to Bankruptcy Code Section 365 will include (but not be limited to) payment of an additional/new security deposit in the amount of three times the then current monthly Base Rent payable hereunder; (b) any person or entity to which this Lease is assigned, pursuant to the provisions of the Bankruptcy Code, shall be deemed, without further act or deed, to have assumed all of the obligations of Tenant arising under this Lease on and after the effective date of such assignment, and any such assignee shall, upon demand by Landlord, execute and deliver to Landlord an instrument confirming such assumption of liability; (c) notwithstanding anything in this Lease to the contrary, all amounts payable by Tenant to or on behalf of Landlord under this Lease, whether or not
expressly denominated as “Rent”, shall constitute “rent” for the purposes of Section 502(b)(6) of the Bankruptcy Code; and (d) if this Lease is assigned to any person or entity pursuant to the provisions of the Bankruptcy Code, any and all monies or other considerations payable or otherwise to be delivered to Landlord or Agent (including Base Rent, Additional Rent and other amounts hereunder), shall be and remain the exclusive property of Landlord and shall not constitute property of Tenant or of the bankruptcy estate of Tenant. Any and all monies or other considerations constituting Landlord’s property under the preceding sentence not paid or delivered to Landlord or Agent shall be held in trust by Tenant or Tenant’s bankruptcy estate for the benefit of Landlord and shall be promptly paid to or turned over to Landlord.

22.           BROKER. Each party agrees to and hereby does defend, indemnify and hold the other harmless against and from any brokerage commissions or finder’s fees or claims therefor by a party claiming to have dealt with the indemnifying party and all costs, expenses and liabilities in connection therewith, including, without limitation, reasonable attorneys’ fees and expenses, for any breach of the foregoing. The foregoing indemnification shall survive the termination or expiration of this Lease.

	
             
  	
            23.
 	
            MISCELLANEOUS.
 

23.1.        Merger. All prior understandings and agreements between the parties are merged in this Lease, which alone fully and completely expresses the agreement of the parties. No agreement shall be effective to modify this Lease, in whole or in part, unless such agreement is in writing, and is signed by the party against whom enforcement of said change or modification is sought.

23.2.        Notices. Any notice required to be given by either party pursuant to this Lease, shall be in writing and shall be deemed to have been properly given, rendered or made only if personally delivered, or if sent by Federal Express or other comparable commercial overnight delivery service, addressed to the other party at the addresses set forth below each party’s respective signature block (or to such other address as Landlord or Tenant may designate to each other from time to time by written notice), and shall be deemed to have been given, rendered or made on the day so delivered or on the first business day after having been deposited with the courier service.

23.3.        Non-Waiver. The failure of either party to insist, in any one or more instances, upon the strict performance of any one or more of the obligations of this Lease, or to exercise any election herein contained, shall not be construed as a waiver or relinquishment for the future of the performance of such one or more obligations of this Lease or of the right to exercise such election, but the Lease shall continue and remain in full force and effect with respect to any subsequent breach, act or omission. The receipt and acceptance by Landlord or Agent of Base Rent or Additional Rent with knowledge of breach by Tenant of any obligation of this Lease shall not be deemed a waiver of such breach.

 

30

23.4.        Advances by Landlord. If Tenant shall fail to make or perform any payment or act required by this Lease within any applicable cure period, then Landlord may at its option make such payment or perform such act for the account of Tenant, and Landlord shall not thereby be deemed to have waived any default or released Tenant from any obligation hereunder. Landlord shall give Tenant thirty (30) days written notice (except in the case of an emergency) prior to Landlord making such payment or protective advance. All amounts so paid by Landlord and all incidental costs and expenses (including reasonable attorneys’ fees and expenses) actually incurred in connection with such payment or performance, together with interest at the Default Interest rate (or at the
highest rate not prohibited by applicable law, whichever is less) from and including the date of the making of such payment or of the incurring of such costs and expenses to and including the date of repayment, shall be paid by Tenant to Landlord on demand.

23.5.        Parties Bound. Except as otherwise expressly provided for in this Lease, this Lease shall be binding upon, and inure to the benefit of, the successors and assignees of the parties hereto. Tenant hereby releases Landlord named herein from any obligations of Landlord for any period subsequent to the conveyance and transfer of Landlord’s ownership interest in the Premises. In the event of such conveyance and transfer, Landlord’s obligations shall thereafter be binding upon each transferee (whether Successor Landlord or otherwise). No obligation of Landlord shall arise under this Lease until the instrument is signed by, and delivered to, both Landlord and Tenant.

23.6.        Recordation of Lease. Landlord and Tenant agree to execute a recordable memorandum of this Lease setting forth the names and addresses of the parties, a reference to this Lease with its date of execution, specific legal descriptions of the Premises, the actual Commencement Date, the term of the Lease and any Renewal Term(s), Tenant’s Right of First Offer, Tenant’s Expansion Option, and Landlord’s Covenants as described in Section 7 above. Such memorandum may be recorded by Tenant at Tenant’s expense or by Landlord at Landlord’s expense in the real property records of the county in which the Premises are situated.

23.7.        Governing Law; Construction. This Lease shall be governed by and construed in accordance with the laws of the state in which the Premises is located. If any provision of this Lease shall be invalid or unenforceable, the remainder of this Lease shall not be affected but shall be enforced to the extent permitted by law. The captions, headings and titles in this Lease are solely for convenience of reference and shall not affect its interpretation. This Lease shall be construed without regard to any presumption or other rule requiring construction against the party causing this Lease to be drafted. Each covenant, agreement, obligation, or other provision of this Lease to be performed by Tenant, shall be construed as a separate and independent covenant of Tenant,
not dependent on any other provision of this Lease. All terms and words used in this Lease, regardless of the number or gender in which they are used, shall be deemed to include any other number and any other gender as the context may require. This Lease may be executed in counterpart and, when all counterpart documents are executed, the counterparts shall constitute a single binding instrument.

23.8.        Time. Time is of the essence for this Lease. If the time for performance hereunder falls on a Saturday, Sunday or a day that is recognized as a holiday in the state in which the Premises is located, then such time shall be deemed extended to the next day that is not a Saturday, Sunday or holiday in said state.

 

31

23.9.        Authority of Tenant. Tenant and the person(s) executing this Lease on behalf of Tenant hereby represent, warrant, and covenant with and to Landlord as follows:  the individual(s) acting as signatory on behalf of Tenant is(are) duly authorized to execute this Lease; Tenant has procured (whether from its members, partners or board of directors, as the case may be), the requisite authority to enter into this Lease; this Lease is and shall be fully and completely binding upon Tenant; and Tenant shall timely and completely perform all of its obligations hereunder.

23.10.      Authority of Landlord. Landlord and the person(s) executing this Lease on behalf of Landlord hereby represent, warrant, and covenant with and to Tenant as follows:  the individual(s) acting as signatory on behalf of Landlord is(are) duly authorized to execute this Lease; Landlord has procured (whether from its members, partners or board of directors, as the case may be), the requisite authority to enter into this Lease; this Lease is and shall be fully and completely binding upon Landlord; and Landlord shall timely and completely perform all of its obligations hereunder.

23.11.      WAIVER OF TRIAL BY JURY. THE LANDLORD AND THE TENANT, TO THE FULLEST EXTENT THAT THEY MAY LAWFULLY DO SO, HEREBY WAIVE TRIAL BY JURY IN ANY ACTION OR PROCEEDING BROUGHT BY ANY PARTY TO THIS LEASE WITH RESPECT TO THIS LEASE, THE PREMISES, OR ANY OTHER MATTER RELATED TO THIS LEASE OR THE PREMISES. 

23.12.      Financial Information. From time to time during the Term but not more frequently than once in any consecutive twelve month period (except in the event that Tenant is in Default hereunder or in the event that Landlord is pursuing a potential sale or refinancing of the Premises), Tenant shall deliver to Landlord, within ten (10) days following Landlord’s written request therefor, the most currently available audited financial statement of Tenant; and if no such audited financial statement is available, then Tenant shall instead deliver to Landlord its most currently available balance sheet, operating statement, income statement and statements of cash flow and equity. Furthermore, upon the delivery of any such financial information from
time to time during the Term, Tenant shall be deemed (unless Tenant specifically states otherwise in writing) to automatically represent and warrant to Landlord that the financial information delivered to Landlord is true, accurate and complete, and at that there has been no material adverse change in the financial condition of Tenant since the date of the then applicable financial information.

23.13.      Submission of Lease. Submission of this Lease to Tenant for signature does not constitute a reservation of space or an option to lease. This Lease is not effective until execution by and delivery to both Landlord and Tenant.

23.14.      Counterparts. This Lease may be executed in multiple counterparts, each of which shall constitute an original, but all such counterparts shall together constitute a single, complete and fully-executed document.

23.15.      Right of First Offer. Tenant shall have a one time “Right of First Offer” to purchase the Premises on and subject to the terms, conditions and limitations set forth in Exhibit F attached hereto

 

32

23.16.      Expansion. Tenant shall have the one time to expand the Premises on and subject to the terms, conditions and limitations set forth in “Rider 1” to this Lease.

[Signature Page Follows]

 

33

IN WITNESS WHEREOF, Landlord and Tenant have duly executed this Lease as of the day and year first above written.

	
             
 	
            LANDLORD:
 
	
             
 	
             
 	
             
 	
             
 
	
             
 	
            FR NET LEASE CO-INVESTMENT PROGRAM 13, LLC
 
	
             
 	
             
 	
             
 	
             
 
	
             
 	
            By:
 	
            FR Net Lease Co-Investment Manager 13, LLC, its managing member
 
	
             
 	
             
 	
             
 	
             
 
	
             
 	
            By:
 	
            FR Net Lease Co-Investment Program Manager, LLC, its sole member
 
	
             
 	
             
 	
             
 	
             
 
	
             
 	
            By:
 	
            First Industrial, L.P., its sole member
 
	
             
 	
             
 	
             
 	
             
 
	
             
 	
            By:
 	
            First Industrial Realty Trust, Inc., its sole general partner
 
	
             
 	
             
 	
             
 	
             
 
	
             
 	
             
 	
            By:
 	
            /s/   Johannson Yap
 
	
             
 	
             
 	
            Name:  
 	
            Johannson Yap
 
	
             
 	
             
 	
            Its:
 	
            Chief Investment Officer
 
	
             
 	
             
 	
             
 	
             
 
	
             
 	
             
 	
             
 	
             
 
	
             
 	
             
 	
             
 	
             
 
	
             
 	
             
 	
             
 	
             
 
	
             
 	
            TENANT:
 
	
             
 	
             
 	
             
 	
             
 
	
             
 	
            LENOX, INCORPORATED, a New Jersey corporation
 
	
             
 	
             
 	
             
 	
             
 

 

	
             
 	
            By:
 	
            /s/   Timothy J. Schugel
 
	
             
 	
            Its:
 	
            Chief Financial Officer and Chief Operating Officer    
 

 

 

S-1

	
            
Landlord’s Addresses for Notices:

 	
            
Tenant’s Addresses for Notices:

 
	
            c/o First Industrial Realty Trust, Inc.

311 South Wacker Drive, Suite 4000

Chicago, Illinois  60606

Attn: Executive Vice President-Operations
 	
            Lenox, Incorporated

6436 City West Parkway

Eden Prairie, MN  55344

Attn:  Tim Schugel

 
 
	
            With a copy to:

First Industrial Realty Trust, Inc.

7150 Columbia Gateway Drive, Suite A

Columbia, Maryland 21046

Attention: Kevin Bauer – Senior Property  

Manager

Telephone: (410) 312-2900

Facsimile: (410) 312-2990
 	
            With copies to:

Lenox Group, Inc.

1414 Radcliffe Street

Bristol, PA  19007-5496

Attn: L.A. Fantin 

 

and

 

Dorsey & Whitney LLP

50 South Sixth Street

Suite 1500

Minneapolis, MN  55402

Attn:  Robert J. Olson
 
	
            With a copy to:

 

(On or prior to June 30, 2007):

Barack Ferrazzano Kirschbaum Perlman & Nagelberg LLP

333 West Wacker Drive

Suite
2700

Chicago, Illinois  60606

Attn:  Mark J. Beaubien

 

(After June 30, 2007):

Barack Ferrazzano Kirschbaum Perlman & Nagelberg LLP

200 West Madison Street

Suite 3900

Chicago, Illinois  60606

Attn:  Mark J. Beaubien

 
 	
             
 

 

 

S-2

EXHIBIT A

PREMISES

All of those lots or parcels of land located in Washington County, Maryland and more particularly described as follows: 

 

Beginning at an iron pin and cap along the existing
right of way for the cul-de-sac at Hunter’s-Green Parkway, said point also being located S 23°26’32” W 64.91 feet
form the most southeastern corner of the lands of Lot 1 as recorded in Washington County Plat folio 5724, thence running

 

1. N 61°52’12” W 357.43 feet to a point, thence 

2. N 73°57’41” W 311.22 feet to a point, thence with a curve to the left having a radius of 130.00 feet, an arc length of 176.77 feet and a chord bearing and distance of 

3. S 67°05’05” W 163.46 feet to a point; thence 

4. S 28°07’48” W 294.58 feet to a point, thence with a curve to the left having a radius of 30 feet, an arc length of 47.12 feet and a chord bearing and distance of 

5. S 16°52’12” E 42.43 feet to a point, thence 

6. S 61°52’12” E 45.24 feet to a point, thence 

7. S 28°07’48” W 212.00 feet to a point, thence 

8. N 61°52’12” W 842.09 feet to a point, thence 

9. N 33°41’02” E 554.60 feet to a point, thence 

10. S 61°52’12” E 642.53 feet to a point, thence 

11. N 30°14’06” E 218.22 feet to a point, thence 

12. N 59°44’09” W 677.59 feet to a point, thence 

13. N 26°32’54” E 251.87 feet to a point, thence 

14. N 67°56’10” W 332.65 feet to a point, thence 

15. S 22°03’50” W 300.00 feet to a point, thence 

16. N 54°58’15” W 142.05 feet to a point, thence 

17. S 70°14’47” W 24.81 feet to a point, thence 

18. S 20°56’55” W 118.29 feet to a point, thence 

19. S 09°59’56” W 210.79 feet to a point, thence 

20. S 18°00’23” W 18.67 feet to a point, thence 

21. S 56°19’00” W 287.69 feet to a point, thence 

22. N 33°41’04” E 425.87 feet to a point, thence 

23. S 59°44’08” W 100.18 feet to a point, thence 

24. S 33°41’02” W 185.64 feet to a point, thence 

25. S 85°18’25” W 31.89 feet to a point, thence 

26. S 33°41’02” W 591.12 feet to a point along the northern right-of-way line of Interstate 70, thence with said right-of-way line S 61°42’34” E 2724.62 feet to a point, thence leaving said right of way and running along the remaining lands of Grace Litton, et al, N 28°17’26” E 382.02 feet to a point, thence with said southern right-of-way line and with a curve to the right having a radius of 530.00 feet, an arc length of 279.97 feet and a chord bearing and distance of 

27. N 22°34’01” W 276.73 feet to a point, thence with a curve to the left having a radius of 470.00 feet, an arc length of 400.99 feet and a chord bearing and distance of 

28. N 31°52’32” W 388.94 feet to a point; thence 

29. N 56°19’02” W 445.43 feet to a point, thence running with the cul-de-sac at the end of Hunter’s Green Parkway and with a curve to the left having a radius of 50 feet, an arc length of 61.51 feet and a chord bearing and distance of

30. S 88°25’06” W 57.743 feet to a point, thence running with a curve to the right having a radius of 70 feet, an arc length of 149.87 feet and a chord bearing and distance of 

31. N 65°30’43” W 122.84 feet to the place of beginning.

 

Containing 40.00 acres of land, more or less. 

 

Being Lot 5 as shown on a plat entitled “Final Plat of Subdivision of Lots 5 and 6 and Simplified Plat of Parcels B and C of Hunter’s Green Business Park for Tiger Development 11, LP”, said plat being recorded at Plat folio 6647, et seq, one of the plat records in the office of the Clerk of the Circuit Court for Washington County, Maryland.

 

A-1

EXHIBIT B

TENANT OPERATIONS INQUIRY FORM

	
            1.
 	
            Name
 	
            of
 
	
             
 	
             
 	
             
 
	
             
 	
            Company/Contact
 	
             
 

 

	
            2.
 	
            Address/Phone
 	
             
 
	
             
 	
             
 	
             
 

 

	
            3.
 	
            Provide a brief description of your business and operations:
 	
             
 
	
             
 	
             
 	
             
 
	
             
 	
             
 	
             
 
	
             
 	
             
 	
             
 
	
             
 	
             
 	
             
 
	
             
 	
             
 	
             
 

 

	
            4.
 	
            Will you be required to make filings and notices or obtain permits as required by Federal and/or State regulations for the operations at the proposed facility?  Specifically:
 

 

	
             
 	
            a. SARA Title III Section 312 (Tier II) reports
 	
            YES
 	
            NO
 

	
             
 	
            (> 10,000lbs. of hazardous materials STORED at any one time)
 

	
             
 	
            b. SARA Title III Section 313 (Tier III) Form R reports
 	
            YES
 	
            NO
 

	
             
 	
            (> 10,000lbs. of hazardous materials USED per year)
 

	
             
 	
            c. NPDES or SPDES Stormwater Discharge permit
 	
            YES
 	
            NO
 

	
             
 	
            (answer “No” if “No-Exposure Certification” filed)
 

	
             
 	
            d. EPA Hazardous Waste Generator ID Number
 	
            YES
 	
            NO
 

 

	
            5.
 	
            Provide a list of chemicals and wastes that will be used and/or generated at the proposed location. Routine office and cleaning supplies are not included. Make additional copies if required.
 

 

 

B-1

	
            Chemical/Waste
 	
            Approximate Annual
Quantity Used or
Generated
 	
            Storage Container(s)

(i.e. Drums, Cartons, Totes,
Bags, ASTs, USTs, etc)
 
	
             
 	
             
 	
             
 
	
             
 	
             
 	
             
 
	
             
 	
             
 	
             
 

 

 

B-2

EXHIBIT C

BROOM CLEAN CONDITION AND REPAIR REQUIREMENTS

	
            •
 	
            All lighting is to be placed into good working order. This includes replacement of bulbs, ballasts, and lenses as needed.
 

	
            •
 	
            All truck doors and dock levelers should be serviced and placed in good operating order (including, but not limited to, overhead door springs, rollers, tracks and motorized door operator). This would include the necessary (a) repair or replacement of any significantly dented truck door panels (dents more than 1 inch deep), broken panels and cracked lumber, and (b) adjustment of door tension to insure proper operation. All door panels that are replaced shall be painted to match the building standard.
 

	
            •
 	
            All structural steel columns in the warehouse and office should be inspected for structural damage, and must be repaired. Repairs of this nature shall be pre-approved by the Landlord prior to implementation. 
 

	
            •
 	
            HVAC system shall be in good working order, including the necessary replacement of any parts to return the unit to operational condition given the age of the units. Tenant shall maintain, throughout the term of the Lease and any renewals, a preventative maintenance contract on all HVAC units. The contract shall be with a reputable mechanic company, reasonably acceptable to the Landlord, and shall consist at a minimum of semiannual inspections with filter changes, twice yearly complete cleaning of fins and coils, complete cleaning of all evaporators at least once every four years, and all other necessary adjustments. Working order shall include, but is not limited to, filters, thermostats, warehouse heaters and exhaust fans. Upon move-out, Landlord will have an exit inspection performed by a certified mechanical contractor
mutually and reasonably agreeable to both parties to determine the condition of the HVAC systems.
 

	
            •
 	
            All holes over 1/4” in diameter in the office space and in the sheet rock walls shall be repaired prior to move-out. All walls shall be clean.
 

	
            •
 	
            The carpets and vinyl tiles shall be in a clean condition and shall not have any holes or chips in them. Flooring shall be free of excessive dust, dirt, grease, oil and stains. Cracks in concrete and asphalt shall be acceptable as long as they are ordinary wear and tear, and are not the result of misuse. 
 

	
            •
 	
            Facilities shall be returned in a clean condition, including, but not limited to, the cleaning of the coffee bar, restroom areas, windows, and other portions of the Premises. 
 

	
            •
 	
            There shall be no protrusion of anchors from the warehouse floor and all holes shall be appropriately patched. If machinery/equipment is removed, the electrical lines shall be properly terminated at the nearest junction box.
 

	
            •
 	
            All exterior windows with cracks or breakage shall be replaced. All interior windows shall be clean.
 

 

C-1

	
            •
 	
            Tenant shall provide keys for all locks on the Premises, including front doors, rear doors, and interior doors.
 

	
            •
 	
            All mechanical and electrical systems shall be left in a safe condition that conforms to all codes applicable to Tenant and the Premises as of the termination of the Lease. Bare wires shall be clipped to the nearest junction box and dangerous installations shall be corrected to Landlord’s reasonable satisfaction.
 

	
            •
 	
            All plumbing fixtures shall be in good working order, including, but not limited to, the water heater. Faucets and toilets shall not leak.
 

	
            •
 	
            All dock bumpers shall be left in place and well-secured.
 

	
            •
 	
Drop grid ceiling
shall be free of excessive dust from lack of changing filters. No ceiling tiles may be missing or damaged.
 

	
            •
 	
            All trash shall be removed from both inside and outside of the Building.
 

	
            •
 	
            All signs in front of the Building and on glass entry door and rear door shall be removed.
 

Remove all pads for machinery and repair and seal any roof penetrations.

 

 

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EXHIBIT D

TERMINATION FEE

 

In the event Tenant has the right to purchase the Premises pursuant to Section 18, the purchase price shall be an amount equal to the sum of (A) 1.10, multiplied by the amount of the current Landlord’s equity investment in the Premises (including all related acquisition costs, including, but not limited to, legal fees, brokerage commissions, environmental consultants and engineering consultants and any unreimbursed improvements and capital expenditures), plus (B) (i) the amount of any then-outstanding debt on the Premises, and (ii) the amount of any yield maintenance or defeasance fees, costs or other fees or premiums due in connection with the pre-payment of any then-outstanding debt (the
“Debt Premium”). Landlord shall provide a good faith, non-binding estimate of the Debt Premium, if any, in anticipation of the Loss Closing Date promptly after the occurrence of a Casualty or Condemnation, except Tenant acknowledges that Landlord’s lender will calculate the actual Debt Premium, if any, to be paid by Tenant at the Loss Closing Date closer to such date (which lender’s calculation shall be binding on Tenant).

The determination of the purchase price under this Exhibit D shall be determined by Landlord in its sole, but reasonable, discretion and shall be conclusive absent manifest error.

 

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EXHIBIT E

GUARANTY OF LEASE

 

GUARANTY OF LEASE (this “Guaranty”) made as of ___________ ____, 2006, by LENOX GROUP INC, a Delaware corporation, with an address at 1414 Radcliffe Street, Bristol, PA 19007-5496 (“Guarantor”), to _______________________________, a(n) ______________________, having an office at 311 South Wacker Drive, Suite 4000, Chicago, Illinois  60606 (“Landlord”).

W I T N E S S E T H :

WHEREAS:

A.           Landlord has been requested by Lenox, Incorporated, a New Jersey corporation, with an office at 6436 City West Parkway, Eden Prairie, MN 55344 (“Tenant”), to enter into an Industrial Building Lease dated as of the date hereof (the “Lease”), whereby Landlord would lease to Tenant, and Tenant would rent from Landlord, all of the premises commonly known as 16507 Hunters Green Parkway, Hagerstown, Maryland, as more particularly described in the Lease (the “Premises”).

B.           Guarantor is the parent of Tenant and will derive substantial economic benefit from the execution and delivery of the Lease.

C.           Guarantor acknowledges that Landlord would not enter into the Lease unless this Guaranty accompanied the execution and delivery of the Lease.

	
             
 	
            D.
 	
            Guarantor hereby acknowledges receipt of a copy of the Lease.
 

NOW, THEREFORE, in consideration of the execution and delivery of the Lease and of other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Guarantor covenants and agrees as follows:

1.            DEFINITIONS. Defined terms used in this Guaranty and not otherwise defined herein have the meanings assigned to them in the Lease.

2.            COVENANTS OF GUARANTOR.

(a)         Guarantor absolutely, unconditionally and irrevocably guarantees, as a primary obligor and not merely as a surety: (i) the full and prompt payment of all Base Rent and Additional Rent and all other rent, sums and charges of every type and nature payable by Tenant under the Lease, and (ii) the full, timely and complete performance of all covenants, terms, conditions, obligations and agreements to be performed by Tenant under the Lease (all of the obligations described in clauses (i) and (ii), collectively, the “Obligations”), which Obligations shall not exceed the liabilities and obligations of Tenant under the Lease. If Tenant defaults under the Lease, Guarantor will, within the notice and cure periods provided in the Lease, pay and perform all of the Obligations, and pay to
Landlord, when and as due, all Base Rent and Additional Rent payable by Tenant under the Lease, together with all damages, costs and expenses to which Landlord is entitled pursuant to the Lease.

 

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(b)          Guarantor agrees with Landlord that (i) any action, suit or proceeding of any kind or nature whatsoever (an “Action”) commenced by Landlord against Guarantor to collect Base Rent and Additional Rent and any other rent, sums and charges due under the Lease for any month or months shall not prejudice in any way Landlord’s rights to collect any such amounts due for any subsequent month or months throughout the Term in any subsequent Action, (ii) Landlord may, at its option, without prior notice or demand, join Guarantor in any Action against Tenant in connection with or based upon either or both of the Lease and any of the Obligations, (iii) Landlord may seek and obtain recovery against Guarantor in an Action against Tenant or in
any independent Action against Guarantor without Landlord first asserting, prosecuting, or exhausting any remedy or claim against Tenant or against any security of Tenant held by Landlord under the Lease, and (iv) Guarantor will be conclusively bound by a judgment entered in any Action in favor of Landlord against Tenant, as if Guarantor were a party to such Action, irrespective of whether or not Guarantor is entered as a party or participates in such Action.

(c)          Any default or failure by the Guarantor to perform any of its Obligations under this Guaranty shall be deemed an immediate default by Tenant under the Lease.

	
             
  	
            3.
 	
            GUARANTOR’S OBLIGATIONS UNCONDITIONAL.
 

(a)          This Guaranty is an absolute and unconditional guaranty of payment and of performance, and not of collection, and shall be enforceable against Guarantor without the necessity of the commencement by Landlord of any Action against Tenant, and without the necessity of any notice of nonpayment, nonperformance or nonobservance, or any notice of acceptance of this Guaranty, or of any other notice or demand to which Guarantor might otherwise be entitled, all of which Guarantor hereby expressly waives in advance. The obligations of Guarantor hereunder are independent of the obligations of Tenant.

(b)          If the Lease is renewed, or the Term extended, for any period beyond the Expiration Date, either pursuant to any option granted under the Lease or otherwise, or if Tenant holds over beyond the Expiration Date, the obligations of Guarantor hereunder shall extend and apply to the full and faithful performance and observance of all of the Obligations under the Lease accruing during any renewal, extension or holdover period.

(c)          This Guaranty is a continuing guaranty and will remain in full force and effect notwithstanding, and the liability of Guarantor hereunder shall be absolute and unconditional irrespective of: (i) any modifications, alterations or amendments of the Lease (regardless of whether Guarantor consented to or had notice of same), (ii) any releases or discharges of Tenant other than the full release and complete discharge of all of the Obligations, (iii) Landlord’s failure or delay to assert any claim or demand or to enforce any of its rights against Tenant, (iv) any extension of time that may be granted by Landlord to Tenant, (v) any assignment or transfer of all of any part of Tenant’s interest under the Lease (whether by Tenant, 

 

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by operation of law, or otherwise), (vi) any subletting, concession, franchising, licensing or permitting of the Premises, (vii) any changed or different use of the Premises, (viii) any other dealings or matters occurring between Landlord and Tenant, (ix) the taking by Landlord of any additional guarantees, or the receipt by Landlord of any collateral, from other persons or entities, (x) the release by Landlord of any other guarantor, (xi) Landlord’s release of any security provided under the Lease, or (xii) Landlord’s failure to perfect any landlord’s lien or other lien or security interest available under applicable Laws. Without limiting the foregoing, this Guaranty shall be applicable to any obligations of Tenant arising in connection with a termination of the Lease, whether voluntary or otherwise. Guarantor hereby consents, prospectively, to Landlord’s taking or entering into any
or all of the foregoing actions or omissions. For purposes of this Guaranty and the obligations and liabilities of Guarantor hereunder, “Tenant” shall be deemed to include any and all concessionaires, licensees, franchisees, department operators, assignees, subtenants, permittees or others directly or indirectly operating or conducting a business in or from the Premises and/or the Property, as fully as if any of the same were the named Tenant under the Lease.

(d)          Guarantor hereby expressly agrees that the validity of this Guaranty and the obligations of Guarantor hereunder shall in no way be terminated, affected, diminished or impaired by reason of the assertion or the failure to assert by Landlord against Tenant, of any of the rights or remedies reserved to Landlord pursuant to the provisions of the Lease or by relief of Tenant from any of Tenant’s obligations under the Lease or otherwise by (i) the release or discharge of Tenant in any state or federal creditors’ proceedings, receivership, bankruptcy or other proceeding; (ii) the impairment, limitation or modification of the liability of Tenant or the estate of Tenant in bankruptcy, or of any remedy for the enforcement of Tenant’s liability under the Lease, resulting from the
operation of any present or future provision of the United States Bankruptcy Code (11 U.S.C. § 101 et seq., as amended), or from other statute, or from the order of any court; or (iii) the rejection, disaffirmance or other termination of the Lease in any such proceeding. This Guaranty shall continue to be effective if at any time the payment of any amount due under the Lease or this Guaranty is rescinded or must otherwise be returned by Landlord for any reason, including, without limitation, the insolvency, bankruptcy, liquidation or reorganization of Tenant, Guarantor or otherwise, all as though such payment had not been made, and, in such event, Guarantor shall pay to Landlord an amount equal to any such payment that has been rescinded or returned if equitable and permitted by applicable law.

	
             
  	
            4.
 	
            WAIVERS OF GUARANTOR.
 

(a)           Without limitation of the foregoing, Guarantor waives (i) notice of acceptance of this Guaranty and notice of dishonor, (ii) notice of any actions taken by Landlord or Tenant under the Lease or any other agreement or instrument relating thereto, (iii) notice of any and all defaults by Tenant in the payment of Base Rent and Additional Rent or other rent, charges or amounts, or of any other defaults by Tenant under the Lease, (iv) all other notices, demands and protests, and all other formalities of every kind in connection with the enforcement of the Obligations, omission of or delay in which, but for the provisions of this Section 4, might constitute grounds for relieving Guarantor of its obligations hereunder, (v) any requirement that Landlord protect, secure, perfect,
insure or proceed against any security interest or lien, or any property subject thereto, or exhaust any right or take any action against Tenant or any collateral, and (vi) the benefit of any statute of limitations affecting Guarantor’s liability under this Guaranty.

 

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(b)          GUARANTOR HEREBY WAIVES TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM BROUGHT BY ANY PERSON OR ENTITY WITH RESPECT TO ANY MATTER WHATSOEVER ARISING OUT OF OR IN ANY WAY CONNECTED WITH: THIS GUARANTY; THE LEASE; ANY LIABILITY OR OBLIGATION OF TENANT IN ANY MANNER RELATED TO THE PREMISES AND/OR THE PROPERTY; ANY CLAIM OF INJURY OR DAMAGE IN ANY WAY RELATED TO THE LEASE, THE PREMISES AND/OR THE PROPERTY; ANY ACT OR OMISSION OF TENANT, ITS AGENTS, EMPLOYEES, CONTRACTORS, SUPPLIERS, SERVANTS, CUSTOMERS, CONCESSIONAIRES, FRANCHISEES, PERMITTEES OR LICENSEES; OR ANY ASPECT OF THE USE OR OCCUPANCY OF, OR THE CONDUCT OF BUSINESS IN, ON OR FROM THE PREMISES AND/OR THE PROPERTY. GUARANTOR SHALL NOT IMPOSE ANY COUNTERCLAIM OR COUNTERCLAIMS OR CLAIMS FOR SET-OFF, RECOUPMENT OR DEDUCTION OF
RENT IN ANY ACTION BROUGHT BY LANDLORD AGAINST GUARANTOR UNDER THIS GUARANTY. GUARANTOR SHALL NOT BE ENTITLED TO MAKE, AND HEREBY WAIVES, ANY AND ALL DEFENSES AGAINST ANY CLAIM ASSERTED BY LANDLORD OR IN ANY SUIT OR ACTION INSTITUTED BY LANDLORD TO ENFORCE THIS GUARANTY OR THE LEASE, EXCEPT THE DEFENSE OF PAYMENT. IN ADDITION, GUARANTOR HEREBY WAIVES, BOTH WITH RESPECT TO THE LEASE AND WITH RESPECT TO THIS GUARANTY, ANY AND ALL RIGHTS WHICH ARE WAIVED BY TENANT UNDER THE LEASE, IN THE SAME MANNER AS IF ALL SUCH WAIVERS WERE FULLY RESTATED HEREIN. THE LIABILITY OF GUARANTOR UNDER THIS GUARANTY IS PRIMARY AND UNCONDITIONAL.

5.            SUBROGATION. Guarantor shall not be subrogated, and hereby waives and disclaims any claim or right against Tenant by way of subrogation or otherwise, to any of the rights of Landlord under the Lease or otherwise, or in either or both of the Premises and the Property, which may arise by any of the provisions of this Guaranty or by reason of the performance by Guarantor of any of its Obligations hereunder. Guarantor shall look solely to Tenant for any recoupment of any payments made or costs or expenses incurred by Guarantor pursuant to this Guaranty. If any amount shall be paid to Guarantor on account of such subrogation rights at any time when all of the Obligations shall not have been paid and performed in full, Guarantor shall hold such
amount in trust for Landlord and shall pay such amount to Landlord immediately following receipt by Guarantor, to be applied against the Obligations, whether matured or unmatured, in such order as Landlord may determine. Guarantor hereby subordinates any liability or indebtedness of Tenant now or hereafter held by Guarantor to the obligations of Tenant to Landlord under the Lease.

 

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6.            REPRESENTATIONS AND WARRANTIES OF GUARANTOR. Guarantor represents and warrants that:

 

(a)          Guarantor is a corporation; has all requisite power and authority to enter into and perform its obligations under this Guaranty; and this Guaranty is valid and binding upon and enforceable against Guarantor without the requirement of further action or condition.

(b)          The execution, delivery and performance by Guarantor of this Guaranty does not and will not (i) contravene any applicable Laws or any contractual restriction binding on or affecting Guarantor or any of its properties, or (ii) result in or require the creation of any lien, security interest or other charge or encumbrance upon or with respect to any of its properties.

(c)          There is no action, suit or proceeding pending or threatened against or otherwise affecting Guarantor before any court or other governmental authority or any arbitrator that may materially adversely affect Guarantor’s ability to perform its obligations under this Guaranty.

(d)          Guarantor’s principal place of business is 1414 Radcliffe Street, Bristol, PA 19007-5496. 

	
             
  	
            (e)
 	
            Guarantor is the parent company of Tenant.
 

7.            NOTICES. Any consents, notices, demands, requests, approvals or other communications given under this Guaranty shall be given as provided in the Lease, and as follows:

(a)          if to Guarantor at Guarantor’s address set forth on the first page of this Guaranty, Attention:  L.A. Fantin; and

(b)          if to Landlord, at Landlord’s address set forth on the signature page of the Lease (with a copy to Landlord’s attorney as also set forth on the signature page to the Lease); or to such other addresses as either Landlord or Guarantor may designate by notice given to the other in accordance with the provisions of this Section 7.

8.             CONSENT TO JURISDICTION; WAIVER OF IMMUNITIES. The undersigned hereby (a) consents and submits to the jurisdiction of the courts of the State of Maryland and the federal courts sitting in the State of Maryland and shall be subject to service of process in the State of Maryland with respect to any dispute there arising, directly or indirectly, out of this Guaranty, (b) waives any objections which the undersigned may have to the laying of venue in any such suit, action or proceeding in either such court, (c) agrees to join Landlord in any petition for removal to either such court, (d) agrees to join Landlord in any petition for removal to either and such court, and (e) irrevocably designates and appoints Tenant as its authorized agent to accept and
acknowledge on its behalf service of process with respect to any disputes arising, directly or indirectly, out of this Guaranty. The undersigned hereby acknowledges and agrees that Landlord may obtain personal jurisdiction and perfect service of process through Tenant as the undersigned agent, or by any other means now or hereafter permitted by applicable law. Nothing above shall limit Landlord’s choice of forum for purposes of enforcing this Guaranty.

 

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            9.
 	
            MISCELLANEOUS.
 

(a)          Guarantor further agrees that Landlord may, without notice, assign this Guaranty in whole or in part, at such time and contemporaneous with the assignment by Landlord of the Lease. If Landlord disposes of its interest in the Lease, “Landlord,” as used in this Guaranty, shall mean Landlord’s successors and assigns. This Guaranty may not be assigned by Guarantor without the prior written consent of Landlord, which consent may be withheld in Landlord’s sole discretion.

(b)          Guarantor promises to pay all of Landlord’s expenses, including, without limitation, reasonable attorneys’ fees and costs, incurred by Landlord in enforcing the terms and conditions of either or both of the Lease and this Guaranty if Landlord prevails.

(c)          Guarantor shall, from time to time within ten (10) business days after receipt of Landlord’s request, execute, acknowledge and deliver to Landlord a statement certifying that this Guaranty is unmodified and in full force and effect (or if there have been modifications, that the same is in full force and effect as modified and stating such modifications). Such certificate may be relied upon by any prospective purchaser, lessor or lender of all or a portion of the Premises and/or Property.

(d)          If any portion of this Guaranty shall be deemed invalid, unenforceable or illegal for any reason, such invalidity, unenforceability or illegality shall not affect the balance of this Guaranty, which shall remain in full force and effect to the maximum permitted extent.

(e)          The provisions, covenants and guaranties of this Guaranty shall be binding upon Guarantor and its heirs, successors, legal representatives and assigns, and shall inure to the benefit of Landlord and its successors and assigns, and shall not be deemed waived or modified unless such waiver or modification is specifically set forth in writing, executed by Landlord or its successors and assigns, and delivered to Guarantor.

(f)           Whenever the words “include”, “includes”, or “including” are used in this Guaranty, they shall be deemed to be followed by the words “without limitation”, and, whenever the circumstances or the context requires, the singular shall be construed as the plural, the masculine shall be construed as the feminine and/or the neuter and vice versa. This Guaranty shall be interpreted and enforced without the aid of any canon, custom or rule of law requiring or suggesting construction against the party drafting or causing the drafting of the provision in question.

(g)          Each of the rights and remedies herein provided are cumulative and not exclusive of any rights or remedies provided by law or in the Lease or this Guaranty.

 

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(h)          The provisions of this Guaranty shall be governed by and interpreted solely in accordance with the internal laws of the State of Maryland, without giving effect to the principles of conflicts of law.

(i)           The execution of this Guaranty prior to execution of the Lease shall not invalidate this Guaranty or lessen the Obligations of Guarantor hereunder.

(j)           Guarantor shall deliver to Landlord, upon reasonable request by Landlord, financial statements for Guarantor prepared by an independent public accountant in the ordinary course of the business and in accordance with customary accounting practices applicable to business operations similar (in terms of the entity’s domicile and whether such entity is a privately held or a public company) to that of Guarantor.

[Signature Page to Follow]

 

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IN WITNESS WHEREOF, Guarantor has executed this Guaranty as of the day and year first above written.

 

	
             
 	
             
 	
            GUARANTOR:
 
	
             
 	
             
 	
             
 
	
             
 	
             
 	
            LENOX GROUP INC,
 a Delaware corporation 
 
	
             
 	
             
 	
             
 	
             
 
	
              
 	
             
 	
            By:
 	
              
 
	
             
 	
             
 	
            Name:
 	
             
 
	
             
 	
             
 	
            Its:
 	
             
 

 

 

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EXHIBIT F

RIGHT OF FIRST OFFER

1.            Defined Terms. Capitalized terms used in this Addendum and not otherwise defined shall have the meanings respectively ascribed to such terms in the Lease.

2.            GRANT. Landlord hereby covenants and agrees that Tenant shall have, and Landlord hereby grants to Tenant, a one time “Right of First Offer” to purchase the Premises.

3.            OFFER NOTICE. Prior to Landlord accepting an offer for the sale of the Premises (which acceptance by Landlord shall be contingent on Tenant’s rights under this Right of First Offer), Landlord shall first offer to Tenant the opportunity to purchase fee simple title to the Premises by advising Tenant, in writing (the “Offer Notice”), of Landlord’s desire to sell the Premises. For purposes of this Lease, a sale of the Premises to which this Right of First Offer applies shall include an indirect transfer of the Premises resulting from the transfer of all or substantially all of the beneficial ownership interests in Landlord to a third party undertaken for purposes of transferring
beneficial ownership of the Premises (an “Indirect Sale”); provided, however, that this Right of First Offer applies shall not apply to:  (i) the direct or indirect transfer of, or issuance of beneficial ownership interest in, First Industrial Investment, Inc. (“FI”), First Industrial, L.P. (“FILP”), First Industrial Realty Trust, Inc. (“FR”) or any successor-in-interest to any of the foregoing; or (ii) the transfer of less than 50% of the ownership interests in Landlord; or (iii) the transfer of ownership interests in Landlord in connection with a joint venture involving Landlord, FILP, FR or FI or the sale of all or substantially all of the assets of such a joint venture; or (iv) a transfer of the Premises (or the marketing of the Premises) in a transaction
that closes essentially contemporaneously with either (A) a liquidation of Landlord, (B) a transfer like that described in clause (iii) above or (C) a transfer from one member or partner in Landlord of its entire equity interest to another member or partner in Landlord, but such Right of First Offer will survive any of the foregoing events. In the Offer Notice, Landlord shall describe, with reasonable specificity, the purchase price and other relevant terms and conditions upon which Landlord is prepared to sell its fee simple interest in the entire Premises (the “Offer Terms”). 

4.            RESPONSE. Upon Landlord’s delivery of the Offer Notice and Offer Terms, Tenant shall have twelve (12) business days (the “Response Period”) in which to advise Landlord, in writing (the “Offer Response”), whether or not Tenant desires to exercise its Right of First Offer and acquire fee simple title to the Premises on all of the Offer Terms. If Tenant fails to timely deliver an Offer Response electing to exercise its Right of First Offer, then Tenant shall have automatically, unconditionally and permanently waived its Right of First Offer with respect to the Premises (subject to Section 6 hereof and the last sentence of this Section 4) such that the Right of First Offer no longer applies to the Premises. In that event, Landlord shall be free to pursue a sale of its fee simple interest in the Premises to a third party, including, but not limited to, an Indirect Sale (a “Sale”), on substantially the same Offer Terms as are set forth in the then-applicable Offer Notice. In the event (A) Landlord delivers an Offer Notice; (B) Tenant elects or is deemed to elect not to exercise its Right of First Offer; and (c) Landlord does not consummate a Sale within twelve (12) months after the expiration of the Response Period (such 12 month period, the “Offer Period”), Tenant’s waiver of its Right of First Offer shall be rescinded and Landlord shall not be free to pursue a Sale of the Premises without complying
with the terms of this Exhibit F and Tenant’s Right of First Offer as to the Premises.

 

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5.            PURCHASE CONTRACT. If Tenant timely delivers an Offer Response and advises Landlord of its desire to acquire Landlord’s fee simple interest in the Premises, the terms and provisions of this Section 5 shall apply. 

a.            General. Simultaneously with the delivery by Tenant to Landlord of an Offer Response, Tenant shall deposit with Landlord, as its earnest money deposit, the sum of $500,000 (the “Earnest Money”) and applied in accordance with this Exhibit. Tenant shall have no right to exercise this Right of First Offer if Tenant is in default of its obligation under the Lease to pay Base Rent or Additional Rent beyond the applicable cure period. If Tenant is and remains in default of its obligation under the Lease to pay Base Rent or Additional Rent as of the Closing (hereinafter defined), Landlord may elect, in its sole discretion, to void Tenant’s exercise of this Right of First Offer by delivery of
written notice to Tenant, in which event this Right of First Offer shall thereafter be forever null and void and Landlord shall be entitled to retain the Earnest Money. Within ten (10) days after the delivery by Tenant to Landlord of an Offer Response, Tenant shall deliver to Landlord a title commitment, issued by a reputable, national title insurance company selected by Tenant (the “Title Company”), for an owner’s title insurance policy (the “Title Policy”) in the full amount of the Purchase Price (as hereinafter defined), together with copies of all recorded documents representing title exceptions.

b.            Purchase Price. The total purchase price to be paid by Tenant to Landlord for the Premises shall be as set forth in the Offer Terms (the “Purchase Price”), plus or minus any adjustments contemplated in herein. The Earnest Money shall be held in escrow by the Title Company and applied against the Purchase Price.

c.            Closing. The purchase of the Premises contemplated herein shall be consummated at a closing (the “Closing”) to take place by mail or at the offices of the Title Company. The Closing shall occur on the sooner to occur of:  (i) such date as the parties shall mutually agree in writing; and (ii) thirty (30) days after the delivery by Tenant to Landlord of an Offer Response (the “Closing Date”). The Closing shall be effective as of 11:59 p.m. on the Closing Date. In the event of any conflict between the Offer Terms applicable to the sale of the Premises and the terms of this Section 5, the terms of this Section 5 shall control.

d.            Landlord’s Closing Deliveries. At the Closing, Landlord shall deliver, or cause to be delivered, to Tenant the following duly executed by Landlord where appropriate:  (i) a Special Warranty Deed, in recordable form, conveying the Premises to Tenant subject to the Permitted Exceptions (as hereinafter defined); (ii) a Quitclaim Bill of Sale conveying all of Landlord’s interest in and to any tangible personal property located on the Premises which is owned by Landlord and used by Landlord solely in connection with the Premises; (iii) an Affidavit of Title in form and substance reasonably acceptable to the Title Company; (iv) a closing statement (the
“Closing Statement”) conforming to the prorations and other relevant provisions of this Addendum; (v) an Entity Transfer Certification confirming that Landlord is a “United States Person” within the meaning of Section 1445 of the Internal Revenue Code of 1986, as amended; (vi) such evidence of the authority and good standing of Landlord as the Title Company shall reasonably require as a condition to the issuance of the Title Policy, and (vii) an assignment of all leases, contracts, etc. on the or pertaining to the Premises that will survive the Closing or as otherwise requested by Tenant.

 

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e.            Tenant’s Closing Deliveries. At the Closing, Tenant shall deliver, or cause to be delivered, to Landlord the following duly executed by Tenant where appropriate:  (i) the Closing Statement; and (ii) the Purchase Price, plus or minus prorations and other adjustments, in immediately available funds.

f.             Title Condition. It shall be a condition precedent to Tenant’s obligation to proceed to the Closing that, at the Closing, the Title Company shall issue the Title Policy (or a “marked” title commitment) to Tenant insuring, in the full amount of the Purchase Price, Tenant as the fee simple owner of the Premises, subject only to the Permitted Exceptions. If the foregoing condition precedent fails for any reason other than the actions of Tenant, the exercise of this Right of First Offer by Tenant shall, at Tenant’s election, be null and void, in which event (i) the Earnest Money shall be returned to Tenant, and (ii) this Right of First Offer shall be irrevocably terminated and of no further force and effect. Landlord shall convey
the Premises to Tenant subject to any and all liens, claims and encumbrances of record (“Permitted Exceptions”) other than the following:  (i) the liens of any mortgage, trust deed or deed of trust evidencing an indebtedness owed by Landlord; (ii) mechanic’s liens pursuant to a written agreement between the claimant and Landlord; (iii) broker’s liens pursuant to a written agreement between the broker and Landlord and (iv) any other lien securing the payment of money owed by Landlord (the “Mandatory Cure Items”). Landlord shall, at Landlord’s sole cost, cure and remove any Mandatory Cure Items on or prior to the Closing. If Landlord fails to cure and remove (whether by endorsement or otherwise) any Mandatory Cure Items on or prior to the Closing, Tenant may, at its option and as its sole remedy hereunder, at law,
in equity or pursuant to the Lease, either (i) terminate its election to exercise this Right of First Offer, in which event the Earnest Money shall be returned by Landlord to Tenant and this Right of First Offer shall thereafter become forever null and void, or (ii) proceed to close with title to the Premises as it then is with the right to deduct from the Purchase Price the amount reasonably necessary to cure and remove (by endorsement or otherwise, as mutually and reasonably determined by Tenant and Landlord) those Mandatory Cure Items that Landlord has failed to cure and remove.

g.            Property Transferred “As Is”. The sale of the Premises pursuant to this Right of First Offer as provided for herein shall be made on a “AS IS,” “WHERE-IS” basis as of the Closing Date, without any representations or warranties, of any nature whatsoever from Landlord. Landlord hereby specifically disclaims any warranty (oral or written) concerning:  (i) the nature and condition of the Premises and the suitability thereof for any and all activities and uses that Tenant may elect to conduct thereon, (ii) the manner, construction, condition and state of repair or lack of repair of any improvements located thereon, (iii) the nature and extent of any right-of-way, lien, encumbrance, license, reservation, condition or otherwise,
(iv) the compliance of the Premises or its operation with any laws, rules, ordinances, or regulations of any government or other body; and (v) any other matter whatsoever. Tenant expressly acknowledges that, in consideration of the agreements of Landlord herein, LANDLORD MAKES NO WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED, OR ARISING BY OPERATION OF LAW, INCLUDING, BUT NOT LIMITED TO, ANY WARRANTY OF QUANTITY, QUALITY, CONDITION, HABITABILITY, MERCHANTABILITY, SUITABILITY OR FITNESS FOR A PARTICULAR PURPOSE OF THE PREMISES, ANY IMPROVEMENTS LOCATED THEREON, OR ANY SOIL CONDITIONS RELATED THERETO. TENANT, FOR TENANT AND TENANT’S SUCCESSORS AND ASSIGNS, HEREBY RELEASES LANDLORD FROM AND WAIVES ANY AND ALL CLAIMS AND LIABILITIES AGAINST LANDLORD FOR, RELATED TO, OR IN CONNECTION WITH, ANY ENVIRONMENTAL CONDITION AT THE PREMISES (OR THE PRESENCE OF ANY 

 

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MATTER OR SUBSTANCE RELATING TO THE ENVIRONMENTAL CONDITION OF THE PREMISES), INCLUDING, BUT NOT LIMITED TO, CLAIMS AND/OR LIABILITIES RELATING TO (IN ANY MANNER WHATSOEVER) ANY HAZARDOUS, TOXIC OR DANGEROUS MATERIALS OR SUBSTANCES LOCATED IN, AT, ABOUT OR UNDER THE PREMISES, OR FOR ANY AND ALL CLAIMS OR CAUSES OF ACTION (ACTUAL OR THREATENED) BASED UPON, IN CONNECTION WITH OR ARISING OUT OF ANY AND ALL ENVIRONMENTAL LAWS.

h.            Prorations. Notwithstanding any local custom to the contrary, as it relates to a purchase of the Premises, there shall be no prorations and adjustments between Landlord and Tenant at the Closing (including, but not limited to, any proration or adjustment of ad valorem real estate taxes or special assessments) except as hereinafter expressly provided. Tenant shall receive a credit from Landlord at the Closing for that portion of any Rent paid by Tenant to Landlord for the month in which the Closing occurs (the “Closing Month”) that is allocable to the period from and after the Closing Date. Tenant shall provide a credit to Landlord at the Closing for:  (i) any and all Rent and other sums due and
owing from Tenant to Landlord pursuant to the Lease with respect to the period prior to the Closing Date that Tenant has not previously paid to Landlord, including, but not limited to, Rent for that portion of the Closing Month occurring prior to the Closing Date to the extent not paid by Tenant prior to the Closing; (ii) any and all Operating Expenses and costs related to the Property that have been paid by Landlord and are related to the period from and after the Closing to the extent not previously reimbursed by Tenant; and (iii) any and all Taxes paid by Landlord for which Tenant has not reimbursed Landlord, whether related to the period prior to or after the Closing Date. Landlord and Tenant hereby agree to re-prorate such amounts to the extent of any error, which obligation shall survive the Closing and the delivery of any conveyance documentation.

i.             Closing Expenses. All costs in connection with the purchase of the Premises and the transactions contemplated by this Exhibit F, including, without limitation, any recording fees, broker fees, closing or escrow fees, title insurance premiums, survey costs and transfer taxes shall be allocated in accordance with local custom. Each of Landlord and Tenant shall be responsible for their respective attorneys’ fees.

j.             Termination of Lease. Upon the Closing and the transfer to Tenant of the Premises, the Lease shall terminate except for those provisions under the Lease which by their terms specifically survive.

k.            Brokerage. Each party hereto represents and warrants to the other that it has dealt with no brokers or finders in connection with this Right of First Offer. Landlord and Tenant each hereby indemnify, protect and defend and hold the other harmless from and against all Losses resulting from the claims of any broker, finder, or other such party claiming a commission in connection with the sale of the Premises pursuant to this Right of First Offer by, through or under the acts or agreements of the indemnifying party. The obligations of the parties pursuant to this Section 5(k) shall survive any transfer of the Premises and the delivery of any conveyance documentation.

l.             Absence of Contingencies. Tenant acknowledges and agrees that, except for the condition precedent relative to the issuance of the Title Policy contained above, there are no conditions precedent or other contingencies to Tenant’s obligation to proceed to the Closing if Tenant exercises this Right of First Offer. Without limitation of the foregoing, Tenant shall not be entitled to the benefit 

 

F-4

of any due diligence or other contingency period. Prior to the exercise of this Right of First Offer, Tenant may conduct normal and customary due diligence investigations and studies of the Premises (“Tenant’s Project Inspection”) subject to the terms and conditions set forth in this Section. Tenant shall not conduct (or cause to be conducted) any physically intrusive investigation, examination or study of the Premises (any such investigation, examination or study, an “Intrusive Investigation”) as part of Tenant’s Project Inspection without obtaining the prior written consent of Landlord, which consent shall not be unreasonably withheld. In the event Tenant desires to conduct (or cause to be conducted) any Intrusive Investigation, such as sampling of soils, other media, building
materials, or the other comparable investigation, Tenant will provide a written scope of work to Landlord describing exactly what procedures Tenant desires to perform. Tenant and Tenant’s consultants, agents and employees shall, in performing any Tenant’s Project Inspections, comply with the agreed upon procedures and with any and all laws, ordinances, rules, and regulations applicable to such procedures or the Premises. Tenant and Tenant’s consultants shall: (a) subject to Section 10 of the Lease, maintain comprehensive general liability (occurrence) insurance in an amount of not less than $2,000,000 covering any accident arising in connection with Tenant’s Project Inspections, and deliver a certificate of insurance (in form reasonably acceptable to Landlord), which names Landlord as additional insured thereunder verifying such coverage, to Landlord prior to the performance of any Tenant’s Project Inspections; (b) promptly pay when due any third party costs
resulting from Tenant’s Project Inspections; and (c) restore the Premises to the condition in which the same were found before any such Tenant’s Project Inspections were undertaken and repair any damage to the Premises to the extent such condition was altered or the Premises were damaged (directly or indirectly) in connection with Tenant’s Project Inspections. Tenant hereby indemnifies, protects, defends and holds Landlord, Landlord’s affiliates, their respective partners, shareholders, officers and directors, and all of their respective successors and assigns, harmless from and against any and all Losses that any such party suffers or incurs as a result of, or in connection with, (i) any damage caused to, in, or at the Premises; (ii) injury or death to person; or (iii) mechanic’s liens or materialmen’s liens arising out of, or in connection with, Tenant’s Project Inspections. Tenant’s undertakings pursuant to this Section
shall survive the Closing and shall not be merged into any instrument of conveyance delivered at the Closing.

m.           No Assignment. The rights of Tenant pursuant to this Right of First Offer are personal to Tenant and may not be assigned by Tenant, except in connection with a Permitted Transfer described in Section 8.3 of the Lease. In the event that Tenant assigns, transfers or conveys all or some portion of its interest in the Lease, this Right of First Offer shall be null, void and of no further force and effect irrespective of whether Landlord has consented to such assignment.

n.            Default by Landlord. If Landlord shall be in material default of its obligations pursuant to this Right of First Offer, Tenant may either (i) terminate Tenant’s election to exercise this Right of First Offer by written notice to Landlord, in which event (a) the Earnest Money shall be returned to Tenant and (b) this Right of First Offer shall continue in effect; and (ii) Tenant may file an action for declaratory judgment or equitable relief, including for specific performance of Landlord’s obligation to proceed to the Closing, including curing the default in question at Closing. Tenant shall have no other remedy for any default by Landlord pursuant to this Exhibit F, except with respect to title
conditions as specifically addressed above. 

 

F-5

o.            Default by Tenant. In the event Tenant defaults in its obligations to close the purchase of the Premises, or in the event Tenant otherwise defaults pursuant to this Exhibit F, then Landlord shall be entitled to retain the Earnest Money as fixed and liquidated damages, this Right of First Offer shall thereafter be forever void and of no further force and effect. Landlord shall have no other remedy for any default by Tenant pursuant to this Exhibit F, including any right to damages or to exercise its rights pursuant to the Lease. LANDLORD AND TENANT ACKNOWLEDGE AND AGREE THAT (1) THE AMOUNT OF THE EARNEST MONEY IS A REASONABLE ESTIMATE OF AND BEARS A
REASONABLE RELATIONSHIP TO THE DAMAGES THAT WOULD BE SUFFERED AND COSTS INCURRED BY LANDLORD AS A RESULT OF HAVING WITHDRAWN THE PREMISES FROM SALE AND THE FAILURE OF THE OPTION CLOSING TO HAVE OCCURRED DUE TO A DEFAULT OF TENANT UNDER THIS EXHIBIT F; (2) THE ACTUAL DAMAGES SUFFERED AND COSTS INCURRED BY LANDLORD AS A RESULT OF SUCH WITHDRAWAL AND FAILURE TO CLOSE DUE TO A DEFAULT OF TENANT UNDER THIS EXHIBIT F WOULD BE EXTREMELY DIFFICULT AND IMPRACTICAL TO DETERMINE; AND (3) THE AMOUNT OF THE EARNEST MONEY SHALL BE AND CONSTITUTE VALID LIQUIDATED DAMAGES.

6.            CHANGE IN OFFER TERMS. In the event that (a) Landlord delivers an Offer Notice and Tenant fails to deliver an Offer Response electing to exercise its Right of First Offer prior to the expiration of the Response Period; and (b) therefore, Landlord has the right to, and is, marketing the Premises for a Sale or actively pursuing the negotiation of the terms and conditions of a Sale, but in the course of such pursuit Landlord desires to change or alter any of the Offer Terms in any material respect, then, during the Offer Period only, Landlord may not consummate any then-pending sale, or finalize the terms and conditions of a Sale, based on and incorporating a material change in the Offer Terms without first delivering a revised Offer Notice to
Tenant, reflecting the then-applicable Offer Terms, and providing Tenant with a Tenant’s Response Period during which Tenant may elect to deliver an Offer Response. For purposes of this Section 6, a change in the purchase price originally included in the Offer Terms shall be deemed material if that purchase price is reduced by more than ten percent (10%) and no changes to the Offer Terms shall be material other than changes in the purchase price.

7.             EXCLUDED SALES. In the event that Landlord desires to transfer and convey all or any portion of its interest in the Premises to FR, FI, FILP, an affiliate of Landlord, FR, FI or FILP, to any entity controlled by, or under common control with, Landlord, FR, FI or FILP or any affiliate of Landlord, FR, FI or FILP, to any joint venture in which Landlord, FR, FI or FILP have an interest or to any other participant in such joint venture (or any affiliate of such a participant (any of the foregoing, an “Affiliate”, and any such transfer or conveyance, an “Affiliate Transfer”), such Affiliate Transfer shall not trigger Tenant’s Right of First
Offer and, following such Affiliate Transfer, Tenant shall retain its Right of First Offer pursuant to this Agreement. In the event that Landlord desires to market, transfer and convey (any such marketing, transfer or conveyance, a “Portfolio Transfer”) all or any portion of its interest in the Premises to a third party as part of a Portfolio Sale (as hereinafter defined) which includes the Premises, such Portfolio Transfer shall not trigger Tenant’s Right of First Offer and, upon the sale of the Premises as part of any such Portfolio Transfer, Tenant’s Right of First Offer shall automatically be rendered irrevocably null and void and neither party shall have any further rights or liabilities under this Exhibit F. For purposes of this Agreement, a “Portfolio Sale” shall mean the actual or proposed sale, transfer or
conveyance, direct or indirect, of more than three (3) properties by Landlord, FI, FILP or FR and one or more Affiliates of Landlord, FI, FILP or FR as part of the same sale or offering package. Notwithstanding anything contained herein to the contrary, the transfer of the Premises as part of a foreclosure, a transfer in lieu of foreclosure or other comparable exercise by a lender of its rights in connection with a loan to Landlord or an Affiliate of Landlord shall not trigger this Right of First Offer and the same shall void this Right of First Offer.

 

F-6

8.            TERMINATION. If Landlord consummates a Sale (within the confines of the requirements imposed in this Exhibit F above), or in the event Tenant does not exercise its Right of First Offer, then from and after the date on which such Sale is consummated (unless an Affiliate Transfer), Tenant’s Right of First Offer shall automatically be rendered irrevocably null and void and Tenant shall have no further rights under this Exhibit F or the Lease to acquire fee simple title to the Premises. 

9.            BENEFIT. This Exhibit F is for the benefit only of the parties hereto and no other person or entity shall be entitled to rely hereon, receive any benefit herefrom or enforce against any party hereto any provision hereof.

 

F-7

RIDER 1

TENANT’S EXPANSION OPTION

1.            Tenant’s Expansion Option. Tenant shall have a one (1) time option (the “Expansion Option”) to construct, or cause to be constructed, at Tenant’s sole cost and expense, an expansion of the Premises of approximately 100,000 additional square feet (along with any related parking expansion and modification to the current Premises on and subject to the limitations herein set forth, collectively, the “Expansion Improvements”), by delivery of written notice to Landlord (the “Expansion Notice”) at any time from and after the
Commencement Date until the date that is two (2) years prior to the Expiration Date; provided, however, that Landlord may elect (in its sole discretion) to construct the Expansion Improvements, on behalf of Tenant and at Landlord’s sole cost, in exchange for Tenant’s agreement to pay the Expansion Rent (as hereinafter defined), all as more particularly described in Section 3.4 below. The exercise of the Expansion Option shall be made by Tenant on and subject to the terms, conditions and limitations set forth in this Rider No. 1. Notwithstanding anything contained herein to the contrary, Tenant shall have no right to exercise its Expansion Option if:  (i) Tenant is in default hereunder (beyond applicable notice and cure periods) at such time as Tenant delivers its Expansion Notice or the date upon which construction of the Expansion Improvements commences (such date, the
“Expansion Commencement Date”); or (ii) Tenant does not have a tangible net worth, determined in accordance with generally accepted accounting principles (after deduction for loans to officers and directors, good will and deferred assets) as of each of the date on which Tenant delivers its Expansion Notice and the Expansion Commencement Date, in excess of $15,000,000, such tangible net worth to be evidenced to Landlord by documentation reasonably satisfactory to Landlord. 

2.            Expansion Notice; Preliminary Plans. The Expansion Notice shall (i) specify the size, nature and scope of the proposed Expansion Improvements; and (ii) be accompanied by preliminary plans and specifications for the construction of the desired Expansion Improvements prepared by an AIA certified architect (the “Proposed Expansion Plans”), which Proposed Expansion Plans shall be sufficient in scope and detail to enable Landlord to evaluate the feasibility, timing and cost to construct the Expansion Improvements. The Expansion Improvements shall be compatible, as to design and aesthetics, with the existing Premises. The Expansion Improvements
shall not require the retrofitting or modification of any of the current Premises existing structure and systems (including, without limitation, all mechanical, electrical, plumbing, heating, ventilating and air conditioning systems), except as reasonably necessary for the proper functioning of the Expansion Improvements, and except as may be consented to by Landlord in its reasonable discretion. The cost of any such retrofitting shall be at Tenant’s sole cost and expense. The configuration of the Expansion Improvements (including, but not limited to, the footprint thereof, the density and number of stories and the rentable square footage intended to be devoted to each of warehouse and office uses), and the composition of the rentable area therein, shall (x) conform to then-applicable zoning laws and regulations and private restrictions unless Tenant obtains a variance in form acceptable to Landlord, and (y) be subject to Landlord’s approval, which approval will not be
unreasonably withheld, conditioned or delayed. Tenant shall have no right to exercise the Expansion Option if the proposed Expansion Improvements (or any expansion of the existing Premises) is not permissible or permitted pursuant to either or both:  (i) any and all laws, ordinances, rules and regulations of any governmental or quasi-governmental authority, including, but not limited to, any zoning ordinances, unless Tenant

 

Rider No. 1-1

obtains a variance for the same (in form and substance reasonably acceptable to Landlord), and (ii) any private conditions, covenants or restrictions encumbering the Premises as of the date on which Tenant delivers the Expansion Notice, provided, however, Landlord shall, at no further cost to Landlord, make reasonable efforts and reasonably cooperate with Tenant to obtain the consent of any entity that has covenants or restrictions encumbering the Premises. In addition, and not as a limitation, to the foregoing, in the event that any Laws require additional parking spaces in order for the Building and/or the Expansion Improvements to be in compliance with Law after the construction of the Expansion Improvements, then as a part of the Expansion Improvements, Tenant shall cause such additional parking to be constructed at the Premises, at Tenant’s sole cost and expense, except as otherwise provided in
Section 3.4 below to the extent Landlord elects (in its sole discretion) to construct the Expansion Improvements.

3.            Review and Approval of Plans. Landlord shall have a period of thirty (30) days to review and approve the Proposed Expansion Plans (which approval shall not be unreasonably withheld) or to suggest reasonable modifications thereto. If Landlord suggests any reasonable modifications to the Proposed Expansion Plans or the Expansion Improvements, Landlord and Tenant shall each act reasonably and in good faith to agree upon such proposed modifications and to finalize the Proposed Expansion Plans. Landlord’s failure to act within such thirty-day period shall be deemed approval by Landlord of the Proposed Expansion Plans. In the event Landlord and Tenant fail to agree upon the Proposed Expansion Plans within ninety (90) days after the expiration
of Landlord’s review period, Tenant’s exercise of the Expansion Option shall automatically be rendered null and void and the Expansion Option (and this Exhibit F) of no further force and effect.

3.1.         Final Plans and General Expansion Terms. Upon Landlord’s and Tenant’s agreement with respect to the Proposed Expansion Plans and the Expansion Improvements, Tenant, at its sole cost and expense, shall have a period of sixty (60) days to prepare:  (i) final plans and specifications for the proposed Expansion Improvements (the “Final Plans”) which shall be substantially based upon the Proposed Expansion Plans approved by both Landlord and Tenant; (ii) a proposed construction schedule for the Expansion Improvements; and (iii) a proposed budget describing estimated construction costs associated with the Expansion Improvements (the items described in (i) - (iii), the “General Expansion Terms”). Tenant shall submit the General Expansion Terms to Landlord for its review and approval (which approval shall not be unreasonably withheld) or reasonable modification. Landlord and Tenant shall act reasonably and in good faith to agree upon the Final Plans and the General Expansion Terms within thirty (30) days. In the event Landlord and Tenant fail to agree upon the Final Plans and the General Expansion Terms within one hundred twenty (120) days, Tenant’s exercise of the Expansion Option shall be automatically rendered null and void and the Expansion Option (and this Exhibit F) of no further force and effect.

3.2.         Collateral Assignment of Contracts. Any general contractor contract, and all other contracts, designs and plans shall provide that they may be collaterally assigned to Landlord without any further consent of the contracting party thereunder. Further, Tenant hereby collaterally assigns, transfers and sets over, to Landlord, all of Tenant’s rights, benefits and privileges under, any general contractor contract, and all other contracts, designs and plans for any Expansion Improvements such that in the event of a default by Tenant hereunder, Landlord may cause any counterparty to such contracts, designs and plans to perform their obligations thereunder for the benefit of the Landlord. Tenant shall enter into such further agreements and take such further
actions as may be required to 

 

Rider No. 1-2

effect the provisions of the foregoing collateral assignment.  Notwithstanding the foregoing, Tenant shall continue to be liable for all covenants, agreements or obligations under such contracts, designs and plans, and Landlord shall not be deemed to have assumed any such contracts, designs or plans, except as provided in Section 3.4 below, to the extent Landlord elects (in its sole discretion) to construct the Expansion Improvements.

3.3          Out-of-Pocket Costs of Landlord. Tenant shall reimburse Landlord for Landlord’s reasonable, out-of-pocket costs and expenses incurred in reviewing and negotiating the Proposed Expansion Plans, Final Plans, General Expansion Terms and overseeing any construction of the Expansion Improvements, within ten (10) days after Landlord’s delivery of written demand to Tenant, together with a detailed schedule of such third-party cost and expenses, except as otherwise provided in Section 3.4 below to the extent Landlord elects (in its sole discretion) to construct the Expansion Improvements on behalf of Tenant.

3.4          Landlord’s Construction Election. Within fifteen (15) business days after Landlord and Tenant have agreed upon the Final Plans and the General Expansion Terms, if at all, Landlord shall provide Tenant with a summary of the terms and conditions upon which Landlord would be willing to construct the Expansion Improvements on behalf of Tenant (and at Landlord’s cost) and lease the Expansion Improvements to Tenant (the “Landlord Expansion Terms”), which Landlord Expansion Terms shall include, but not be limited to, the annual base rent, including, but not limited to, annual escalations thereof, that Landlord would charge Tenant for the Expansion Improvements (the “Expansion Base Rent”), the terms of Landlord’s delivery of the Expansion Improvements and the other material terms of the proposed construction and leaseback by Landlord of the Expansion Improvements. Landlord shall have no obligation hereunder or otherwise to construct the Expansion Improvements and the Landlord Expansion Terms and the terms of the Expansion Amendment (as hereinafter defined) shall be formulated by, and acceptable to, Landlord in its sole and absolute discretion. Tenant shall have a period of ten (10) business days in which to accept or reject, in its sole discretion, the Landlord Expansion Terms. If Tenant timely accepts the Landlord Expansion Terms, Landlord and Tenant shall act diligently and in good faith to negotiate, execute and enter into an amendment to the Lease and this Rider No. 1 to incorporate the Landlord Expansion Terms (the “Expansion Amendment”) within
thirty (30) days after such acceptance. If Tenant rejects the Landlord Expansion Terms, if Landlord does not timely deliver the Landlord Expansion Terms, or if Landlord and Tenant are unable to timely negotiate, execute and enter into the Expansion Amendment on terms acceptable to Landlord and Tenant in their respective sole discretion, Tenant shall have the option to construct, or cause to be constructed, the Expansion Improvements at Tenant’s sole cost and expense pursuant to, and in accordance with, this Exhibit F. If Landlord and Tenant execute and enter into the Expansion Amendment, (A) Landlord shall construct the Expansion Improvements pursuant to the Final Plans and the Expansion Amendment at Landlord’s sole cost; and (B) Tenant shall lease the Expansion Improvements from Landlord in exchange for the payment by Tenant to Landlord for the Expansion Base Rent from and after the substantial completion of the Expansion
Improvements, all as more particularly described in the Expansion Amendment. Without limitation of the foregoing, Tenant shall lease the Expansion Improvements from Landlord on the same general, fully triple net terms as are applicable to the Premises, and the Expansion Improvements shall be included in the Premises for all relevant purposes from and after their substantial completion by Landlord.

 

Rider No. 1-3

4.            Commencement and Completion of Construction of Expansion Improvements. Provided Landlord and Tenant have not agreed upon the Landlord Expansion Terms and entered into the Expansion Amendment, promptly after Landlord and Tenant agree upon the General Expansion Terms, and provided Tenant elects to proceed with the construction of the Expansion Improvements, Tenant shall commence its efforts to procure the Approvals (defined below) and to commence the construction of the Expansion Improvements pursuant to, and in accordance with, the Final Plans. Tenant shall furnish or obtain any and all permits, approvals and consents from any governmental or quasi-governmental authorities (including, but not limited to, any permits or approvals pursuant to
any private conditions, covenants or restrictions or from any architectural review board) necessary as a condition to the construction of the Expansion Improvements (the “Approvals”), utilities, professional services, design, material, labor and equipment required to construct the Expansion Improvements on the Premises pursuant to and as described by the Final Plans. The Expansion Improvements shall be constructed in compliance with the provisions of Sections 11.2 and 11.3 of the Lease substantially in accordance with the Final Plans and completed in accordance with all applicable statutes, ordinances and building codes, governmental rules, regulations and orders relating to construction of the Expansion Improvements. 

4.1          Default Under Lease. Prior to the completion of the Expansion Improvements by Tenant, in the event that Tenant defaults under this Lease (and fails to timely cure such default) after Tenant has exercised its Expansion Option, Landlord may, at its option, elect to: (a) cause Tenant to suspend construction of the Expansion Improvements until such default is cured and in such event, Tenant shall be responsible for, and promptly reimburse Landlord, for any and all costs incurred resulting from such Tenant default and suspension of construction; or (b) terminate construction of the Expansion Improvements and remove the partially constructed Expansion Improvements, in which event Tenant shall reimburse Landlord for all costs incurred by Landlord in removing the
partially constructed Expansion Improvements, and Landlord may exercise any or all of its other rights and remedies under this Lease; or (c) complete construction of the Expansion Improvements pursuant to this Rider No. 1, and Landlord may exercise any or all of its other rights and remedies under this Lease, including, but not limited to realizing on the Expansion Improvements Security, as hereinafter defined. Notwithstanding any election previously made by Landlord pursuant to the prior sentence, Landlord may, at any time until construction of the Expansion Improvements is substantially complete, further elect to invoke any option set forth in clauses (a) or (c) of the preceding sentence in lieu of any previously elected option. The rights and remedies of Landlord under this Rider No. 1 are cumulative of any other rights and remedies of Landlord elsewhere provided in this Lease, at law or
in equity.

4.2.         Changes to Final Plans. In the event Tenant wishes to propose a modification, adjustment or alteration to the Final Plans (a “Change Order”), Tenant shall promptly provide Landlord with a reasonably detailed written description of the proposed Change Order, together with any and all supporting documentation reasonably appropriate to understand and evaluate the proposed Change Order. Landlord’s consent to any Change Order shall be required, which consent shall not be unreasonably withheld, conditioned or delayed. If Landlord fails to disapprove any Change Order within five (5) business days after request for Landlord’s approval, such approval shall be deemed granted if Landlord does not deny its
approval within five (5) business days after a second written request therefore. Notwithstanding the other provisions of this paragraph, Landlord shall not be entitled to disapprove of Change Orders submitted by Tenant to the extent such Change Orders are necessitated by requirements of any governmental or quasi-governmental or administrative code, rule, 

 

Rider No. 1-4

law, approval or other authority enacted, adopted, amended, supplemented or clarified after the date Tenant obtains the Approvals. Prior to implementing any Change Order, Tenant shall increase the amount of the Expansion Improvements Security (as defined below) to cover the reasonably expected cost of the Change Order or otherwise cause the Expansion Improvements Security to provide adequate security for the completion of any Change Order.

4.3.         Substantial Completion; Commencement and Completion. For purposes of this Lease, the term “Expansion Substantial Completion Date” shall mean the date when the construction of the Expansion Improvements has been substantially completed in accordance with the requirements of the Final Plans, excepting only “punch list items.”  Provided Tenant elects to proceed with the construction of the Expansion Improvements at its sole cost, Tenant shall promptly commence construction of any Expansion Improvements after the approval of Final Plans and shall diligently pursue the construction of the Expansion Improvements. Tenant shall cause the Expansion Substantial Completion Date to occur within nine (9)
months after the approval of Final Plans. In the event the Tenant fails to complete the Expansion Improvements within a the required period of time after the approval of Final Plans, then after sixty (60) days’ prior written notice to Tenant, Landlord shall have the right to cause the Expansion Improvements to be completed, whereupon Landlord shall be entitled to realize and or use any available Expansion Improvements Security and/or obtain reimbursement from Tenant within thirty (30) days after Landlord’s delivery of written demand to Tenant, together with a detailed schedule of Landlord’s third-party cost and expenses incurred in completing the Expansion Improvements. When Tenant believes that the Expansion Improvements are substantially completed as provided above, Landlord and Tenant shall together walk through the Expansion Improvements and inspect them, using reasonable efforts to discover all uncompleted or defective construction in the Expansion Improvements.
After such inspection has been completed, and the “punch list” items have been agreed upon, in the parties’ reasonable discretion, Tenant shall cause to be completed and/or repaired such “punch list” items within 30 days thereafter. Upon the Expansion Substantial Completion Date, the Expansion Improvements shall be deemed to be a part of the Premises and the property of Landlord for all purposes, provided, however, that there shall not be an increase in Base Rent due to the addition of the Expansion Improvements (except as otherwise provided in an Expansion Amendment to the extent Landlord constructs the Expansion Improvements). Tenant shall execute any and all deeds, conveyance documents or bills of sale, for no further consideration, to Landlord, conveying the Expansion Improvements to Landlord on Landlord’s request.

4.4         Security and Cure Rights. Prior to commencement of construction of the Expansion Improvements by Tenant, at its sole cost, Tenant shall provide for the benefit of Landlord and any lender to Landlord security (the “Expansion Improvements Security”) for the performance of Tenant’s obligations hereunder, which Expansion Improvements Security could include, but not be limited to, a cash deposit of the cost of construction of the Expansion Improvements into a construction escrow, a letter of credit, or a payment and performance bond, which Expansion Improvements Security (a) shall be in form and substance acceptable to Landlord and its lender, and (b) be available for Landlord and/or its lender to draw upon in the event that
Tenant defaults on its obligations pursuant to this Rider No. 1. Upon the occurrence of the Expansion Substantial Completion Date and the completion of any “punch list items”, any Expansion Improvements Security overage remaining, any letter of credit remaining or any bonds or other security shall be released to Tenant. No Expansion Improvements Security shall be required should Landlord elect to construct the Expansion Improvements pursuant to Section 3.5 of this Rider No. 1.

 

Rider No. 1-5

5.            Warranties. After the expiration of the Lease, Tenant shall assign and shall be deemed to have assigned to Landlord any third party warranties issued to Tenant and rights under construction contracts in connection with the Expansion Improvements.

6.            Personal to Tenant. The Expansion Option is personal to Tenant and its affiliates, except that the Expansion Option may be transferred in connection with a Permitted Transfer described in Section 8.3 of the Lease. 

7.            Progress. Landlord and Tenant shall hold regular meetings concerning the progress of construction of the Expansion Improvements. Landlord and Tenant shall each designate a representative for purposes of monitoring the construction of the Expansion Improvements and making day-to-day construction related decisions.

8.            Mandatory Term Extension. If (a) Landlord or Tenant construct the Expansion Improvements, and (b) the remaining portion of the Term of the Lease is less than five (5) years from and after the Expansion Substantial Completion Date, either by Landlord or Tenant, the Term of this Lease shall be automatically extended such that the Expiration Date occurs on the last day of the calendar month in which five (5) years anniversary of the Expansion Substantial Completion Date occurs (the portion of such extended period after the original  Expiration Date, the “Expansion Extension Period”). During the Expansion Extension Period, Base Rent payable by Tenant to Landlord pursuant to the Lease,
including, but not limited to, any Expansion Base Rent, shall continue to escalate annually by two percent (2%) per annum. Promptly after the Expansion Substantial Completion Date, Landlord and Tenant shall execute and enter into an amendment to this Lease reflecting the revised Expiration Date, the Expansion Extension Period and the Base Rent during the Expansion Extension Period. 

 

 

Rider No. 1-6EXHIBIT 4.1

                  WACHOVIA COMMERCIAL MORTGAGE SECURITIES, INC.
                                    Depositor

                                       and

                       WACHOVIA BANK, NATIONAL ASSOCIATION
                                 Master Servicer

                                       and

                               LNR PARTNERS, INC.
                                Special Servicer

                                       and

                             WELLS FARGO BANK, N.A.
                                     Trustee

                         POOLING AND SERVICING AGREEMENT

                          Dated as of December 1, 2006

                         ______________________________

                                 $3,371,274,173

                  Commercial Mortgage Pass-Through Certificates

                                 Series 2006-C29

<PAGE>

                               TABLE OF CONTENTS

                                       ARTICLE I

                                      DEFINITIONS

Section 1.01.    Defined Terms..................................................

                                      ARTICLE II

                     CONVEYANCE OF MORTGAGE LOANS; REPRESENTATIONS
                   AND WARRANTIES; ORIGINAL ISSUANCE OF CERTIFICATES

Section 2.01.    Conveyance of Mortgage Loans...................................
Section 2.02.    Acceptance of the Trust Fund by Trustee........................
Section 2.03.    Mortgage Loan Seller's Repurchase or Substitution of Mortgage
                  Loans for Document Defects and Breaches of Representations
                  and Warranties................................................
Section 2.04.    Representations and Warranties of Depositor....................
Section 2.05.    Conveyance of Mortgage Loans; Acceptance of REMIC I and
                  Additional Interest Grantor Trust by Trustee..................
Section 2.06.    Issuance of the REMIC I Regular Interests; Execution,
                  Authentication and Delivery of Class R-I Certificates.........
Section 2.07.    Conveyance of REMIC I Regular Interests; Acceptance of
                  REMIC II by Trustee...........................................
Section 2.08.    Execution, Authentication and Delivery of REMIC II
                  Certificates..................................................
Section 2.09.    Execution, Authentication and Delivery of Class Z Certificates.

                                      ARTICLE III

                    ADMINISTRATION AND SERVICING OF THE TRUST FUND

Section 3.01.    Administration of the Mortgage Loans...........................
Section 3.02.    Collection of Mortgage Loan Payments...........................
Section 3.03.    Collection of Taxes, Assessments and Similar Items; Servicing
                  Accounts; Reserve Accounts....................................
Section 3.04.    Certificate Account, Interest Reserve Account, Gain-on-Sale
                  Reserve Account, Additional Interest Account, Distribution
                  Account and Companion Distribution Account....................
Section 3.05.    Permitted Withdrawals from the Certificate Account,
                  Distribution Account, Interest Reserve Account, Additional
                  Interest Account, Gain-on-Sale Reserve Account and Companion
                  Distribution Account..........................................
Section 3.06.    Investment of Funds in the Servicing Accounts, Reserve
                  Accounts, Certificate Account, Interest Reserve Account,
                  Distribution Account, Companion Distribution Account,
                  Additional Interest Account, Gain-on-Sale Reserve Account
                  and REO Account...............................................
Section 3.07.    Maintenance of Insurance Policies; Errors and Omissions and
                  Fidelity Coverage.............................................
Section 3.08.    Enforcement of Alienation Clauses..............................
Section 3.09.    Realization Upon Defaulted Mortgage Loans; Required Appraisals.
Section 3.10.    Trustee and Custodian to Cooperate; Release of Mortgage Files..
Section 3.11.    Servicing Compensation.........................................
Section 3.12.    Property Inspections; Collection of Financial Statements;
                  Delivery of Certain Reports...................................
Section 3.13.    Annual Reports on Assessment of Compliance with Servicing
                  Criteria and Annual Statement as to Compliance................
Section 3.14.    Attestation by Independent Public Accountants..................
Section 3.15.    Access to Certain Information..................................
Section 3.16.    Title to REO Property; REO Account.............................
Section 3.17.    Management of REO Property.....................................
Section 3.18.    Resolution of Defaulted Mortgage Loans and REO Properties......
Section 3.19.    Additional Obligations of Master Servicer and Special Servicer.
Section 3.20.    Modifications, Waivers, Amendments and Consents................
Section 3.21.    Transfer of Servicing Between Master Servicer and Special
                  Servicer; Record Keeping......................................
Section 3.22.    Sub-Servicing Agreements.......................................
Section 3.23.    Representations and Warranties of Master Servicer and Special
                  Servicer......................................................
Section 3.24.    Sub-Servicing Agreement Representation and Warranty............
Section 3.25.    Designation of Controlling Class Representative................
Section 3.26.    Companion Paying Agent.........................................
Section 3.27.    Companion Register.............................................
Section 3.28.    Future Debt Secured by Interests in Related Mortgagors.........
Section 3.29.    Certain Matters Relating to the Future Securitization of the
                  Pari Passu Companion Loans....................................
Section 3.30.    Litigation Control.............................................

                                      ARTICLE IV

                          DISTRIBUTIONS TO CERTIFICATEHOLDERS

Section 4.01.    Distributions..................................................
Section 4.02.    Statements to Certificateholders; CMSA Loan Periodic Update
                  File..........................................................
Section 4.03.    P&I Advances...................................................
Section 4.04.    Allocation of Realized Losses and Additional Trust Fund
                  Expenses; Allocation of Certificate Deferred Interest;
                  Allocation of Appraisal Reduction Amounts.....................
Section 4.05.    Calculations...................................................
Section 4.06.    Use of Agents..................................................

                                       ARTICLE V

                                   THE CERTIFICATES

Section 5.01.    The Certificates...............................................
Section 5.02.    Registration, Transfer and Exchange of Certificates............
Section 5.03.    Book-Entry Certificates........................................
Section 5.04.    Mutilated, Destroyed, Lost or Stolen Certificates..............
Section 5.05.    Persons Deemed Owners..........................................

                                      ARTICLE VI

                    THE DEPOSITOR, THE MASTER SERVICER, THE SPECIAL
                   SERVICER AND THE CONTROLLING CLASS REPRESENTATIVE

Section 6.01.    Liability of Depositor, Master Servicer and Special Servicer...
Section 6.02.    Merger, Consolidation or Conversion of Depositor or Master
                  Servicer or Special Servicer..................................
Section 6.03.    Limitation on Liability of Depositor, Master Servicer and
                  Special Servicer..............................................
Section 6.04.    Resignation of Master Servicer and the Special Servicer........
Section 6.05.    Rights of Depositor and Trustee in Respect of Master Servicer
                  and the Special Servicer......................................
Section 6.06.    Depositor, Master Servicer and Special Servicer to Cooperate
                  with Trustee..................................................
Section 6.07.    Depositor, Special Servicer and Trustee to Cooperate with
                  Master Servicer...............................................
Section 6.08.    Depositor, Master Servicer and Trustee to Cooperate with
                  Special Servicer..............................................
Section 6.09.    Designation of Special Servicer by the Controlling Class and
                  Controlling Holders...........................................
Section 6.10.    Master Servicer or Special Servicer as Owner of a Certificate..
Section 6.11.    The Controlling Class Representative...........................

                                      ARTICLE VII

                                        DEFAULT

Section 7.01.    Events of Default..............................................
Section 7.02.    Trustee to Act; Appointment of Successor.......................
Section 7.03.    Notification to Certificateholders and Companion Holders.......
Section 7.04.    Waiver of Events of Default....................................
Section 7.05.    Additional Remedies of Trustee Upon Event of Default...........

                                     ARTICLE VIII

                                CONCERNING THE TRUSTEE

Section 8.01.    Duties of Trustee..............................................
Section 8.02.    Certain Matters Affecting Trustee..............................
Section 8.03.    Trustee Not Liable for Validity or Sufficiency of Certificates
                  or Mortgage Loans.............................................
Section 8.04.    Trustee May Own Certificates...................................
Section 8.05.    Fees and Expenses of Trustee; Indemnification of Trustee.......
Section 8.06.    Eligibility Requirements for Trustee...........................
Section 8.07.    Resignation and Removal of Trustee.............................
Section 8.08.    Successor Trustee..............................................
Section 8.09.    Merger or Consolidation of Trustee.............................
Section 8.10.    Appointment of Co-Trustee or Separate Trustee..................
Section 8.11.    Appointment of Custodians......................................
Section 8.12.    Appointment of Authenticating Agents...........................
Section 8.13.    Access to Certain Information..................................
Section 8.14.    Appointment of REMIC Administrators............................
Section 8.15.    Representations and Warranties of Trustee......................
Section 8.16.    Appointment of the Paying Agent................................
Section 8.17.    Reports to the Securities and Exchange Commission; Available
                  Information...................................................
Section 8.18.    Maintenance of Mortgage File...................................

                                      ARTICLE IX

                                      TERMINATION

Section 9.01.    Termination Upon Repurchase or Liquidation of All Mortgage
                  Loans.........................................................
Section 9.02.    Additional Termination Requirements............................

                                       ARTICLE X

                               ADDITIONAL TAX PROVISIONS

Section 10.01.   REMIC Administration...........................................
Section 10.02.   Administration of the Additional Interest Grantor Trust........

                                      ARTICLE XI

                               MISCELLANEOUS PROVISIONS

Section 11.01.   Amendment......................................................
Section 11.02.   Recordation of Agreement; Counterparts.........................
Section 11.03.   Limitation on Rights of Certificateholders.....................
Section 11.04.   Governing Law..................................................
Section 11.05.   Notices........................................................
Section 11.06.   Severability of Provisions.....................................
Section 11.07.   Grant of a Security Interest...................................
Section 11.08.   Streit Act.....................................................
Section 11.09.   Successors and Assigns; Beneficiaries..........................
Section 11.10.   Article and Section Headings...................................
Section 11.11.   Notices to Rating Agencies.....................................
Section 11.12.   Complete Agreement.............................................

<PAGE>

                                    EXHIBITS

       Exhibit Description         Exhibit No.         Section Reference
       -------------------         -----------         -----------------

Form of Class A-1 Certificate          A-1     Section 1.01 Definition of
                                               "Class A-1 Certificate"

Form of Class A-2 Certificate          A-2     Section 1.01 Definition of
                                               "Class A-2 Certificate"

Form of Class A-3 Certificate          A-3     Section 1.01 Definition of
                                               "Class A-3 Certificate"

Form of Class A-PB  Certificate        A-4     Section 1.01 Definition of
                                               "Class A-PB Certificate"

Form of Class A-4 Certificate          A-5     Section 1.01 Definition of
                                               "Class A-4 Certificate"

Form of Class A-1A Certificate         A-6     Section 1.01 Definition of
                                               "Class A-1A Certificate"

Form of Class IO Certificate           A-7     Section 1.01 Definition of
                                               "Class IO Certificate"

Form of Class A-M Certificate          A-8     Section 1.01 Definition of
                                               "Class A-M Certificate"

Form of Class A-J Certificate          A-9     Section 1.01 Definition of
                                               "Class A-J Certificate"

Form of Class B Certificate           A-10     Section 1.01 Definition of
                                               "Class B Certificate"

Form of Class C Certificate           A-11     Section 1.01 Definition of
                                               "Class C Certificate"

Form of Class D Certificate           A-12     Section 1.01 Definition of
                                               "Class D Certificate"

Form of Class E Certificate           A-13     Section 1.01 Definition of
                                               "Class E Certificate"

Form of Class F Certificate           A-14     Section 1.01 Definition of
                                               "Class F Certificate"

Form of Class G Certificate           A-15     Section 1.01 Definition of
                                               "Class G Certificate"

Form of Class H Certificate           A-16     Section 1.01 Definition of
                                               "Class H Certificate"

Form of Class J Certificate           A-17     Section 1.01 Definition of
                                               "Class J Certificate"

Form of Class K Certificate           A-18     Section 1.01 Definition of
                                               "Class K Certificate"

Form of Class L Certificate           A-19     Section 1.01 Definition of
                                               "Class L Certificate"

Form of Class M Certificate           A-20     Section 1.01 Definition of
                                               "Class M Certificate"

Form of Class N Certificate           A-21     Section 1.01 Definition of
                                               "Class N Certificate"

Form of Class O Certificate           A-22     Section 1.01 Definition of
                                               "Class O Certificate"

Form of Class P Certificate           A-23     Section 1.01 Definition of
                                               "Class P Certificate"

Form of Class Q Certificate           A-24     Section 1.01 Definition of
                                               "Class Q Certificate"

Form of Class R-I  Certificate        A-25     Section 1.01 Definition of
                                               "Class R-I  Certificate"

Form of Class R-II Certificate        A-26     Section 1.01 Definition of
                                               "Class R-II  Certificate"

Form of Class Z Certificate           A-27     Section 1.01 Definition of
                                               "Class Z  Certificate"

Mortgage Loan Schedule                  B      Section 1.01 Definition of
                                               "Mortgage Loan Schedule"

Schedule of Exceptions to              C-1     Section 2.02(a)
  Mortgage File Delivery

Form of Custodial Certification        C-2     Section 2.02(b)

Form of Master Servicer Request        D-1     Section 1.01 Definition of
  for Release                                  "Request for Release";
                                               Section 2.03(b);
                                               Section 3.10(a); and
                                               Section 3.10(b)

Form of Special Servicer Request       D-2     Section 1.01 Definition of
  for Release                                  "Request for Release";
                                               Section 3.10(b)

Calculation of NOI/Debt Service         E      Section 1.01 Definition of "Net
  Coverage Ratios                              Operating Income"

Form of Transferor Certificate         F-1     Section 5.02(b)

Form of Transferee Certificate         F-2     Section 5.02(b)
  for QIBs

Form of Transferee Certificate         F-3     Section 5.02(b)
  for Non-QIBs

Form of Transferee Certificate         F-4     Section 5.02(b)
  for Transfers Pursuant to
  Regulation S

Form of Transferee Certificate         F-5     Section 5.02(b)
  for Exchange or Transfer From
  Domestic Global Certificate to
  Regulation S Global Certificate
  During the Restricted Period

Form of Transferee Certificate         F-6     Section 5.02(b)
  for Exchange or Transfer From
  Domestic Global Certificate to
  Regulation S Global Certificate
  After the Restricted Period

Form of Transferee Certificate          G      Section 5.02(c)

Form of Transfer Affidavit and         H-1     Section 5.02(d)(i)(B)
  Agreement Pursuant to
  Section 5.02(d)(i)(B)

Form of Transferor Certificate         H-2     Section 5.02(d)(i)(D)
  Pursuant to
  Section 5.02(d)(i)(D)

Form of Notice and Acknowledgment      I-1     Section 6.09

Form of Acknowledgment of              I-2     Section 6.09
  Proposed Special Servicer

[Reserved]                              J      [Reserved]

Form of Certificateholder              K-1     Section 1.01 Definition of
  Confirmation Certificate                     "Privileged Person";
  Request by Beneficial Holder                 Section 3.15(a)

Form of Prospective Purchaser          K-2     Section 1.01 Definition of
  Certificate                                  "Privileged Person";
                                               Section 3.15(a)

Initial Companion Holders               L      Section 3.27

Form of Purchase Option Notice          M      Section 3.18(e)

Form of Defeasance Certificate          N      Section 3.20(h)

Form of Depositor Certification         O      Section 8.17(k)(v);
                                               Section 8.17(n)

Form of Trustee Certification           P      Section 8.17(n)

Form of Master Servicer                Q-1     Section 8.17(n)
  Certification

Form of Special Servicer               Q-2     Section 8.17(n)
  Certification

Class A-PB Planned Principal            R      Section 1.01 Definition of
  Balance Schedule                             "Class A-PB Planned Principal
                                               Amount"

Relevant Servicing Criteria             S      Section 1.01 Definition of
                                               "Relevant Servicing Criteria"

[Reserved]                              T      [Reserved]

Additional Form 10-D Disclosure         U      Section 8.17(i)

Additional Disclosure Notification      V      Section 1.01 Definition of
                                               "Additional Disclosure
                                               Notification"; Section 8.17(i)

Additional Form 10-K Disclosure         W      Section 8.17(k)

Form 8-K Disclosure Information         X      Section 8.17(j)

Sub-Servicer List                       Y      Section 3.13(b); Section 3.14;
                                               Section 7.01(a)(xi)

Tenants-in-Common Transfer              Z      Section 3.08(a)(ii)
  Compliance

Officer's Certificate of Master        AA      Section 3.08(a)(ii)
  Servicer re:  Tenants-in-Common
  Approvals

<PAGE>

                         POOLING AND SERVICING AGREEMENT

            This Pooling and Servicing Agreement (this "Agreement") is dated and
effective as of December 1, 2006, among WACHOVIA COMMERCIAL MORTGAGE SECURITIES,
INC., as Depositor, WACHOVIA BANK, NATIONAL ASSOCIATION, as Master Servicer, LNR
PARTNERS, INC., as Special Servicer, and WELLS FARGO BANK, N.A., as Trustee.

                             PRELIMINARY STATEMENT:

            The Depositor intends to sell mortgage pass-through certificates
(collectively, the "Certificates"), to be issued hereunder in multiple classes
(each, a "Class"), which in the aggregate will evidence the entire beneficial
ownership interest in a trust fund (the "Trust Fund") to be created hereunder,
the primary assets of which will be the Mortgage Loans.

                                     REMIC I

            As provided herein, the Trustee will elect to treat the segregated
pool of assets consisting of all of the Mortgage Loans (exclusive of that
portion of the interest payments thereon that constitutes Additional Interest)
and certain other related assets subject to this Agreement as a REMIC for
federal income tax purposes, and such segregated pool of assets will be
designated as REMIC I. The Class R-I Certificates will represent the sole class
of "residual interests" in REMIC I for purposes of the REMIC Provisions under
federal income tax law.

                                    REMIC II

            As provided herein, the Trustee will elect to treat the segregated
pool of assets consisting of all of the REMIC I Regular Interests as a REMIC for
federal income tax purposes, and such segregated pool of assets will be
designated as REMIC II. The Class R-II Certificates will evidence the sole class
of "residual interests" in REMIC II for purposes of the REMIC Provisions under
federal income tax law. For federal income tax purposes, each Class of Regular
Certificates will be designated as a separate "regular interest" in REMIC II for
purposes of the REMIC Provisions under federal income tax law.

            The following table sets forth the Class or Component designation,
the original REMIC I Principal Balance for each corresponding REMIC I Regular
Interest (each, a "Corresponding REMIC I Regular Interest"), the Corresponding
Components of the Class IO Certificates (the "Corresponding Components") and the
Original Class Principal Balance for each Class of Sequential Pay Certificates
(the "Corresponding Certificates").

<PAGE>

                              Corresponding                        Corresponding
                  Original      REMIC I     Original    REMIC I    Components of
                    Class       Regular      REMIC I     Pass-         Class IO
 Corresponding    Principal    Interests    Principal   Through     Certificates
 Certificates      Balance        (1)        Balance      Rate         (1)
 ------------      -------    -----------   --------    ----------  -----------

Class A-1       $16,720,000      LA-1      $16,720,000     (2)         IO-A-1

Class A-2       $291,336,000     LA-2     $291,336,000     (2)         IO-A-2

Class A-3       $161,040,000     LA-3     $161,040,000     (2)         IO-A-3

Class A-PB      $49,254,000      LA-PB     $49,254,000     (2)        IO-A-PB

Class A-4       $1,142,530,000   LA-4     $1,142,530,000   (2)         IO-A-4

Class A-1A      $699,011,000     LA-1A    $699,011,000     (2)        IO-A-1A

Class A-M       $337,128,000     LA-M     $337,128,000     (2)         IO-A-M

Class A-J       $303,415,000     LA-J     $303,415,000     (2)         IO-A-J

Class B         $25,284,000       LB       $25,284,000     (2)          IO-B

Class C         $33,713,000       LC       $33,713,000     (2)          IO-C

Class D         $29,498,000       LD       $29,498,000     (2)          IO-D

Class E         $46,355,000       LE       $46,355,000     (2)          IO-E

Class F         $37,927,000       LF       $37,927,000     (2)          IO-F

Class G         $37,927,000       LG       $37,927,000     (2)          IO-G

Class H         $33,713,000       LH       $33,713,000     (2)          IO-H

Class J         $37,927,000       LJ       $37,927,000     (2)          IO-J

Class K         $12,642,000       LK       $12,642,000     (2)          IO-K

Class L         $8,428,000        LL       $8,428,000      (2)          IO-L

Class M         $8,428,000        LM       $8,428,000      (2)          IO-M

Class N         $4,214,000        LN       $4,214,000      (2)          IO-N

Class O         $8,429,000        LO       $8,429,000      (2)          IO-O

Class P         $8,428,000        LP       $8,428,000      (2)          IO-P

Class Q         $37,927,173       LQ       $37,927,173     (2)          IO-Q

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

(1)   Each REMIC I Regular Interest and the Component of the Class IO
      Certificates that correspond to any particular Class of Sequential Pay
      Certificates also correspond to each other and, accordingly, constitute
      the Corresponding REMIC I Regular Interest and the Corresponding Component
      (if any), respectively, with respect to each other.

(2)   The Weighted Average Net Mortgage Rate.

            The portion of the Trust Fund consisting of the Additional Interest
and amounts held from time to time in the Additional Interest Account that
represent Additional Interest shall be treated as a grantor trust (the
"Additional Interest Grantor Trust") for federal income tax purposes. The Class
Z Certificates represent undivided beneficial interests in such Additional
Interest Grantor Trust. As provided herein, the Trustee shall take all actions
necessary to ensure that the portion of the Trust Fund consisting of the
Additional Interest Grantor Trust maintain its status as a "grantor trust" under
federal income tax law and not be treated as part of either REMIC I or REMIC II.

            Each of the mortgage loans referred to in this Agreement as the
Galleria at Tyler Subordinate Companion Loan, the Newport Bluffs Pari Passu
Companion Loan, the Renaissance Tower Office Building Subordinate Companion
Loan, the Dakota Square Mall Subordinate Companion Loan, the Aetna
Building-Fresno, CA Subordinate Companion Loans and the FBI - Albany, NY
Subordinate Companion Loans (each, a "Companion Loan" and, collectively, the
"Companion Loans") are not part of the Trust Fund but are secured by
corresponding Mortgages that secure certain related Mortgage Loans that are
identified on the Mortgage Loan Schedule as the Galleria at Tyler Loan (loan
number 3), the Newport Bluffs Loan (loan number 6), the Renaissance Tower Office
Building Loan (loan number 7), the Dakota Square Mall Loan (loan number 11), the
Aetna Building-Fresno, CA Loan (loan number 50) and the FBI - Albany, NY Loan
(loan number 80) (each, a "Co-Lender Loan" and collectively, the "Co-Lender
Loans") that are part of the Trust Fund.

            The Galleria at Tyler Subordinate Companion Loan is subordinate in
right of entitlement to the Galleria at Tyler Loan. The Newport Bluffs Loan, the
Newport Bluffs Pari Passu Companion Loan and the Newport Bluffs Future Pari
Passu Companion Loan, if advanced, are pari passu in right of entitlement with
each other. The Renaissance Tower Office Building Subordinate Companion Loan is
subordinate in right of entitlement to the Renaissance Tower Office Building
Loan. The Dakota Square Mall Subordinate Companion Loan is subordinate in right
of entitlement to the Dakota Square Mall Loan. The Aetna Building-Fresno, CA
Subordinate Companion Loans are subordinate in right of entitlement to the Aetna
Building-Fresno, CA Loan. The FBI - Albany, NY Subordinate Companion Loans are
subordinate in right of entitlement to the FBI - Albany, NY Loan. As and to the
extent provided herein, each of the Companion Loans (other than the Newport
Bluffs Pari Passu Companion Loan and the Newport Bluffs Future Pari Passu
Companion Loan, if advanced) will be serviced and administered in accordance
with this Agreement. Each of the Newport Bluffs Loan, the Newport Bluffs Pari
Passu Companion Loan and the Newport Bluffs Future Pari Passu Companion Loan, if
advanced, will be serviced and administered in accordance with the pooling and
servicing agreement (the "2006-C28 Pooling and Servicing Agreement"), dated as
of October 1, 2006, by and among Wachovia Commercial Mortgage Securities, Inc.,
as depositor (the "2006-C28 Depositor"), Wachovia Bank, National Association, as
master servicer (the "2006-C28 Master Servicer"), CWCapital Asset Management
LLC, as special servicer (the "2006-C28 Special Servicer"), Wells Fargo Bank,
N.A., as trustee (the "2006-C28 Trustee") and U.S. Bank National Association, as
co-trustee (the "2006-C28 Co-Trustee"), pursuant to which the Wachovia Bank
Commercial Mortgage Trust Commercial Mortgage Pass Through Certificates, Series
2006-C28 were issued and the trust fund (the "2006-C28 Trust Fund") was created.
Amounts attributable to the Companion Loans will not be assets of the Trust Fund
and will be owned by the Companion Holders.

            In consideration of the mutual agreements herein contained, the
Depositor, the Master Servicer, the Special Servicer and the Trustee agree as
follows:

                                   ARTICLE I

                                   DEFINITIONS

            Section 1.01  Defined Terms.

            Whenever used in this Agreement, including in the Preliminary
Statement, the following words and phrases, unless the context otherwise
requires, shall have the meanings specified in this Article.

            "2006-C28 Co-Trustee": As defined in the Preliminary Statement.

            "2006-C28 Controlling Class Representative": The "Controlling Class
Representative" as defined in the 2006-C28 Pooling and Servicing Agreement.

            "2006-C28 Depositor": As defined in the Preliminary Statement.

            "2006-C28 Majority Subordinate Certificateholder": The "Majority
Subordinate Certificateholder" as defined in the 2006-C28 Pooling and Servicing
Agreement.

            "2006-C28 Master Servicer": As defined in the Preliminary Statement.

            "2006-C28 Mortgage Loan Purchase Agreement": The "Mortgage Loan
Purchase Agreement" as defined in the 2006-C28 Pooling and Servicing Agreement.

            "2006-C28 Pooling and Servicing Agreement": As defined in the
Preliminary Statement.

            "2006-C28 Serviced Mortgage Loan": The Newport Bluffs Loan.

            "2006-C28 Special Servicer": As defined in the Preliminary
Statement.

            "2006-C28 Trust Fund": As defined in the Preliminary Statement.

            "2006-C28 Trustee": As defined in the Preliminary Statement.

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

            "Accrued Certificate Interest": With respect to any Class of Regular
Certificates (other than the Class IO Certificates) for any Distribution Date,
one month's interest at the Pass-Through Rate applicable to such Class of
Certificates, for such Distribution Date, accrued for the related Interest
Accrual Period on the related Class Principal Balance outstanding immediately
prior to such Distribution Date; and, with respect to the Class IO Certificates
for any Distribution Date, the sum of the Accrued Component Interest for the
related Interest Accrual Period for all of their respective Components for such
Distribution Date. Accrued Certificate Interest shall be calculated on a 30/360
Basis and, with respect to any Class of Regular Certificates for any
Distribution Date, shall be deemed to accrue during the calendar month preceding
the month in which such Distribution Date occurs.

            "Accrued Component Interest": With respect to each Component of the
Class IO Certificates for any Distribution Date, one month's interest at the
Class IO Strip Rate applicable to such Component for such Distribution Date,
accrued on the Component Notional Amount of such Component outstanding
immediately prior to such Distribution Date. Accrued Component Interest shall be
calculated on a 30/360 Basis and, with respect to any Component and any
Distribution Date, shall be deemed to accrue during the calendar month preceding
the month in which such Distribution Date occurs.

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

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

            "Actual/360 Mortgage Loan": Each Mortgage Loan that accrues interest
on an Actual/360 Basis and that is identified as an Actual/360 Mortgage Loan on
the Mortgage Loan Schedule.

            "Additional Disclosure Notification": The form of notification,
which is attached hereto as Exhibit V, to be included with any Additional Form
10-D Disclosure, Additional Form 10-K Disclosure or Form 8-K Disclosure
Information.

            "Additional Form 10-D Disclosure": As defined in Section 8.17(i).

            "Additional Form 10-K Disclosure": As defined in Section 8.17(k).

            "Additional Interest": With respect to any ARD Loan after its
Anticipated Repayment Date, all interest accrued on the principal balance of
such ARD Loan at the Additional Interest Rate (the payment of which interest
shall, under the terms of such Mortgage Loan, be deferred until the entire
outstanding principal balance of such ARD Loan has been paid), together with all
interest, if any, accrued at the related Mortgage Rate on such deferred
interest. For purposes of this Agreement, Additional Interest on an ARD Loan or
any successor REO Loan shall be deemed not to constitute principal or any
portion thereof and shall not be added to the unpaid principal balance or Stated
Principal Balance of such ARD Loan or successor REO Loan, notwithstanding that
the terms of the related Mortgage Loan documents so permit. To the extent that
any Additional Interest is not paid on a current basis, it shall be deemed to be
deferred interest.

            "Additional Interest Account": The segregated account, accounts or
subaccounts created and maintained by the Trustee pursuant to Section 3.04(d)
which shall be entitled "Wells Fargo Bank, N.A., as Trustee, in trust for the
registered holders of Wachovia Bank Commercial Mortgage Trust, Commercial
Mortgage Pass-Through Certificates, Series 2006-C29, Additional Interest
Account." The Additional Interest Account shall not be an asset of either REMIC
I or REMIC II.

            "Additional Interest Grantor Trust": That certain "grantor trust"
(within the meaning of the Grantor Trust Provisions), the assets of which are
the Additional Interest Grantor Trust Assets.

            "Additional Interest Grantor Trust Assets": The segregated pool of
assets consisting of (i) any Additional Interest with respect to the ARD Loans
after their respective Anticipated Repayment Dates and (ii) amounts held from
time to time in the Additional Interest Account.

            "Additional Interest Rate": With respect to any ARD Loan after its
Anticipated Repayment Date, the incremental increase in the per annum rate at
which such Mortgage Loan accrues interest after the Anticipated Repayment Date
(in the absence of defaults) as calculated and as set forth in the related
Mortgage Loan documents.

            "Additional Servicer": Each Affiliate of the Master Servicer that
services any of the Mortgage Loans and each Person who is not an Affiliate of
the Master Servicer, other than the Special Servicer or the Trustee, who
services 10% or more of the Mortgage Loans.

            "Additional Trust Fund Expense": Any Special Servicing Fees, Workout
Fees, Liquidation Fees and, in accordance with Sections 3.03(d) and 4.03(d),
interest payable to the Master Servicer and/or the Trustee on Advances (to the
extent not offset by Penalty Interest and late payment charges), the cost of
contracting with a Determination Party as set forth in Section 2.03 and amounts
payable to the Special Servicer in connection with inspections of Mortgaged
Properties required pursuant to the first sentence of Section 3.12(a) (and not
otherwise paid from Penalty Interest and late payment charges), as well as
(without duplication) any of the expenses of the Trust Fund that may be
withdrawn (x) pursuant to any of clauses (ix), (x), (xiii), (xiv), (xv) and
(xxi) of Section 3.05(a) out of general collections on the Mortgage Loans and
any REO Properties on deposit in the Certificate Account or (y) pursuant to
clause (ii) or any of clauses (iv) through (vi) of Section 3.05(b) out of
general collections on the Mortgage Loans and any REO Properties on deposit in
the Distribution Account; provided that for purposes of the allocations
contemplated by Section 4.04, no such expense shall be deemed to have been
incurred by the Trust Fund until such time as the payment thereof is actually
made from the Certificate Account or the Distribution Account, as the case may
be.

            "Additional Yield Amount": (a) With respect to any Distribution Date
and any Class of Regular Certificates (other than the Class IO Certificates and
any Excluded Class) entitled to distributions of principal with respect to Loan
Group 1 pursuant to Section 4.01(a) on such Distribution Date; provided that a
Yield Maintenance Charge and/or Prepayment Premium was actually collected on a
Mortgage Loan or an REO Loan in such Loan Group during the related Collection
Period, the product of (a) such Yield Maintenance Charge and/or Prepayment
Premium multiplied by (b) a fraction, which in no event will be greater than
one, the numerator of which is equal to the positive excess, if any, of (i) the
Pass-Through Rate for such Class of Regular Certificates then receiving
principal over (ii) the related Discount Rate, and the denominator of which is
equal to the positive excess, if any, of (i) the Mortgage Rate for such Mortgage
Loan or REO Loan, as the case may be, over (ii) the related Discount Rate,
multiplied by (c) a fraction, the numerator of which is equal to the amount of
principal distributable on such Class of Regular Certificates on such
Distribution Date pursuant to Section 4.01(a) with respect to Loan Group 1, and
the denominator of which is equal to the Loan Group 1 Principal Distribution
Amount for such Distribution Date.

            (b) With respect to any Distribution Date and any Class of Regular
Certificates (other than the Class IO Certificates and any Excluded Class)
entitled to distributions of principal with respect to Loan Group 2 pursuant to
Section 4.01(a) on such Distribution Date; provided that a Yield Maintenance
Charge and/or Prepayment Premium was actually collected on a Mortgage Loan or an
REO Loan in such Loan Group during the related Collection Period, the product of
(a) such Yield Maintenance Charge and/or Prepayment Premium multiplied by (b) a
fraction, which in no event will be greater than one, the numerator of which is
equal to the positive excess, if any, of (i) the Pass-Through Rate for such
Class of Regular Certificates then receiving principal over (ii) the related
Discount Rate, and the denominator of which is equal to the positive excess, if
any, of (i) the Mortgage Rate for such Mortgage Loan or REO Loan, as the case
may be, over (ii) the related Discount Rate, multiplied by (c) a fraction, the
numerator of which is equal to the amount of principal distributable on such
Class of Regular Certificates on such Distribution Date pursuant to Section
4.01(a) with respect to Loan Group 2, and the denominator of which is equal to
the Loan Group 2 Principal Distribution Amount for such Distribution Date.

            (c) For purposes of the foregoing, to the extent that payments of
principal on any Class of Regular Certificates (other than the Class IO
Certificates and any Excluded Class) could be made from principal amounts
allocable to Loan Group 1 or principal amounts allocable to Loan Group 2, the
Trustee shall assume that those payments of principal on that Class of Regular
Certificates are made from amounts allocable to each Loan Group, on a pro rata
basis in accordance with the respective amounts allocable to each Loan Group
that were available for payment on that Class of Certificates.

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

            "Adverse Grantor Trust Event": As defined in Section 10.02(g).

            "Adverse REMIC Event": As defined in Section 10.01(h).

            "Aetna Building-Fresno, CA Intercreditor Agreement": The
Intercreditor Agreement Among Note Holders, dated as of June 29, 2006, by and
among Wachovia Bank, National Association, as Senior Note A Holder, Caplease
Debt Funding, LP, as Junior Note A Holder, and Caplease Debt Funding, LP, as
Note B Holder, relating to the Aetna Building-Fresno, CA Whole Loan.

            "Aetna Building-Fresno, CA Loan": That certain Mortgage Loan which
is included in the Trust Fund (identified as loan number 50 on the Mortgage Loan
Schedule).

            "Aetna Building-Fresno, CA Subordinate Companion Loans": Those
certain mortgage loans, each evidenced by a note, which are not assets of the
Trust Fund, both secured by the Mortgaged Property securing the Aetna
Building-Fresno, CA Loan and subordinate in right of entitlement to the Aetna
Building-Fresno, CA Loan.

            "Aetna Building-Fresno, CA Whole Loan": The Aetna Building-Fresno,
CA Loan, collectively with the Aetna Building-Fresno, CA Subordinate Companion
Loans.

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

            "Agreement": This Pooling and Servicing Agreement and all amendments
hereof and supplements hereto.

            "Anticipated Repayment Date": For each ARD Loan, the date specified
in the related Mortgage Note after which the Mortgage Rate for such ARD Loan
will increase as specified in the related Mortgage Note (other than as a result
of a default thereunder).

            "Appraisal": With respect to any Mortgage Loan, an appraisal of the
related Mortgaged Property from an Independent Appraiser selected by the Special
Servicer or the Master Servicer prepared in accordance with 12 CFR ss.225.62 and
conducted in accordance with the standards of the American Appraisal Institute
by an Independent Appraiser which Independent Appraiser shall be advised to take
into account the factors specified in Section 3.09(a), any available
environmental, engineering or other third party reports, and other factors that
a prudent real estate appraiser would consider.

            "Appraisal Reduction Amount": The excess, if any, of (a) the sum of
(without duplication), as calculated by the Special Servicer as of the first
Determination Date immediately succeeding the Special Servicer obtaining
knowledge of the occurrence of the Required Appraisal Date if no new Required
Appraisal is required or the date on which a Required Appraisal (or letter
update or internal valuation, if applicable) is obtained and each Determination
Date thereafter so long as the related Mortgage Loan remains a Required
Appraisal Mortgage Loan (i) the Stated Principal Balance of the subject Required
Appraisal Mortgage Loan and any related Companion Loans related thereto, (ii) to
the extent not previously advanced by or on behalf of the Master Servicer or the
Trustee (or, with respect to the 2006-C28 Serviced Mortgage Loan, by the
2006-C28 Master Servicer), all unpaid interest on the Required Appraisal
Mortgage Loan (including, for such purposes, any related Pari Passu Companion
Loan or any related Subordinate Companion Loan serviced hereunder) through the
most recent Due Date prior to such Determination Date at a per annum rate equal
to the related Net Mortgage Rate and the related fixed annualized rate of
interest scheduled to accrue for the related Companion Loans (exclusive of any
portion thereof that constitutes Additional Interest), (iii) all accrued but
unpaid Servicing Fees and all accrued but unpaid Additional Trust Fund Expenses
in respect of such Required Appraisal Mortgage Loan and any related Companion
Loans, plus, with respect to any Pari Passu Companion Loan (other than the
Non-Serviced Companion Loans), any similar fees and expenses, (iv) all related
unreimbursed Advances and any Advances related to such Required Appraisal
Mortgage Loan (including, for such purposes, any related Pari Passu Companion
Loan or any related Subordinate Companion Loan serviced hereunder) that were
reimbursed out of general collections from the pool of Mortgage Loans (plus
accrued interest thereon) made by or on behalf of the Master Servicer or the
Trustee with respect to such Required Appraisal Mortgage Loan and (v) all
currently due and unpaid real estate taxes and unfunded improvement reserves and
assessments, insurance premiums, and, if applicable, ground rents in respect of
the related Mortgaged Property over (b) an amount equal to the sum of (i) the
Required Appraisal Value and (ii) all escrows, reserves and letters of credit
held for the purposes of reserves (provided such letters of credit may be drawn
upon for reserve purposes under the related Mortgage Loan documents) held with
respect to such Required Appraisal Mortgage Loan. If the Special Servicer fails
to obtain a Required Appraisal (or letter update or internal valuation, if
applicable) within the time limit described in Section 3.09(a), the Appraisal
Reduction Amount for the related Required Appraisal Mortgage Loan will equal 25%
of the outstanding principal balance of such Required Appraisal Mortgage Loan
(including, for such purposes, any related Pari Passu Companion Loan or any
related Subordinate Companion Loan serviced hereunder) to be adjusted upon
receipt of a Required Appraisal or letter update or internal valuation, if
applicable. In the event a Mortgagor fails to make a Balloon Payment on a
scheduled maturity date and no Appraisal has been received within 120 days of
such failure, the Appraisal Reduction Amount for the related Mortgage Loan
(including, for such purposes, any related Pari Passu Companion Loan or any
related Subordinate Companion Loan serviced hereunder) will equal 25% of the
outstanding principal balance of such Mortgage Loan (including, for such
purposes, any related Pari Passu Companion Loan or any related Subordinate
Companion Loan serviced hereunder), to be adjusted upon receipt of the new
Appraisal. Any Appraisal Reduction Amount for a Co-Lender Loan shall be
allocated as provided in Section 4.04(d).

            "Appraised Value": With respect to each Mortgaged Property, the
appraised value thereof based upon the most recent Appraisal (or letter update
or internal valuation, if applicable) that is contained in the related Servicing
File.

            "ARD Loan": Any Mortgage Loan that provides that if the unamortized
principal balance thereof is not repaid on its Anticipated Repayment Date, such
Mortgage Loan will accrue Additional Interest at the rate specified in the
related Mortgage Note and the Mortgagor is required to apply excess monthly cash
flow generated by the related Mortgaged Property to the repayment of the
outstanding principal balance on such Mortgage Loan.

            "Artesia": Artesia Mortgage Capital Corporation, or its successor in
interest.

            "Artesia Mortgage Loan Purchase Agreement": That certain mortgage
loan purchase agreement, dated as of December 1, 2006, between the Depositor and
Artesia, and relating to the transfer of the Artesia Mortgage Loans to the
Depositor.

            "Artesia Mortgage Loans": Each of the Mortgage Loans transferred and
assigned to the Depositor pursuant to the Artesia Mortgage Loan Purchase
Agreement.

            "Asset Status Report": As defined in Section 3.21(d).

            "Assignment of Leases": With respect to any Mortgaged Property, any
assignment of leases, rents and profits or similar document or instrument
executed by the Mortgagor in connection with the origination of the related
Mortgage Loan.

            "Assumed Scheduled Payment": With respect to any Balloon Mortgage
Loan for its Stated Maturity Date (provided that such Mortgage Loan has not been
paid in full and no other Liquidation Event has occurred in respect thereof on
or before such Stated Maturity Date) and for any Due Date thereafter as of which
such Mortgage Loan remains outstanding and part of the Trust Fund, the Periodic
Payment of principal and/or interest deemed to be due in respect thereof on such
Due Date that would have been due in respect of such Mortgage Loan on such Due
Date if the related Mortgagor had been required to continue to pay principal in
accordance with the amortization schedule, if any, and to accrue interest at the
Mortgage Rate, in effect on the Closing Date and without regard to the
occurrence of its Stated Maturity Date. With respect to any REO Loan, for any
Due Date therefor as of which the related REO Property remains part of the Trust
Fund, the Periodic Payment of principal and/or interest deemed to be due in
respect thereof on such Due Date that would have been due in respect of the
predecessor Mortgage Loan (or, if applicable, Companion Loans) on such Due Date
had it remained outstanding (or, if the predecessor Mortgage Loan was a Balloon
Mortgage Loan and such Due Date coincides with or follows what had been its
Stated Maturity Date, the Assumed Scheduled Payment that would have been deemed
due in respect of the predecessor Mortgage Loan on such Due Date had it remained
outstanding).

            "Authenticating Agent": Any authenticating agent appointed pursuant
to Section 8.12 (or, in the absence of any such appointment, the Trustee).

            "Available Distribution Amount": With respect to any Distribution
Date, an amount equal to, with respect to each Mortgage Loan, (a) the sum
(including, with respect to the 2006-C28 Serviced Mortgage Loan, any amounts
remitted by or advanced pursuant to the 2006-C28 Pooling and Servicing
Agreement) of, without duplication, (i) the aggregate of the amounts on deposit
in the Certificate Account and the Distribution Account as of the close of
business on the last day of the related Collection Period and the amounts
collected by or on behalf of the Master Servicer as of the close of business on
the last day of such Collection Period and required to be deposited in the
Certificate Account; (ii) the aggregate amount of any P&I Advances made by the
Master Servicer or the Trustee for distribution on the Certificates on such
Distribution Date pursuant to Section 4.03; (iii) the aggregate amount
transferred from the REO Account (if established) to the Certificate Account as
of the last day of the related Collection Period, on or prior to the P&I Advance
Date in such month, pursuant to Section 3.16(c); (iv) the aggregate amount
deposited by the Master Servicer in the Certificate Account for such
Distribution Date pursuant to Section 3.19 in connection with Prepayment
Interest Shortfalls; and (v) for each Distribution Date occurring in March, and
for the final Distribution Date if the final Distribution Date occurs in
February, the aggregate of the Interest Reserve Amounts in respect of each
Interest Reserve Loan deposited into the Distribution Account pursuant to
Section 3.05(d); and (vi) for the initial Distribution Date only, the Interest
Shortfall Amount deposited into the Distribution Account pursuant to Section
3.05, net of (b) the portion of the amount described in subclauses (a)(i) and
(a)(iii) of this definition that represents one or more of the following: (i)
collected Periodic Payments that are due on a Due Date following the end of the
related Collection Period, (ii) any amounts payable or reimbursable to any
Person from the (A) Certificate Account pursuant to clauses (ii)-(xvi), (xx),
(xxi) and (xxiii) of Section 3.05(a) or (B) the Distribution Account pursuant to
clauses (ii)-(vii) of Section 3.05(b), (iii) Prepayment Premiums and Yield
Maintenance Charges, (iv) Additional Interest, (v) with respect to the
Distribution Date occurring in February of each year and in January of each year
that is not a leap year (unless, in either case, the related Distribution Date
is the final Distribution Date), the Interest Reserve Amounts with respect to
the Interest Reserve Loans to be withdrawn from the Certificate Account and
remitted to the Trustee for deposit in the Interest Reserve Account in respect
of such Distribution Date and held for future distribution pursuant to Section
3.04(c), (vi) for the initial Distribution Date only and each Mortgage Loan
originated in November 2006 that has its first Due Date in January 2007, any
interest amounts relating to the period prior to the Cut-Off Date of such
Mortgage Loan payable to the related Mortgage Loan Seller; and (vii) any amounts
deposited in the Certificate Account or the Distribution Account in error. The
Available Distribution Amount will not include any amounts required to be
distributed pursuant to the terms of any Intercreditor Agreement or this
Agreement to a Companion Holder.

            "Balloon Mortgage Loan": Any Mortgage Loan that by its original
terms or by virtue of any modification entered into as of the Closing Date
provides for an amortization schedule extending beyond its Stated Maturity Date.

            "Balloon Payment": With respect to any Balloon Mortgage Loan as of
any date of determination, the Scheduled Payment payable on the Stated Maturity
Date of such Mortgage Loan.

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

            "Bid Allocation": With respect to the Master Servicer and each
Sub-Servicer and the proceeds of any bid pursuant to Section 7.01(c), the amount
of such proceeds (net of any expenses incurred in connection with such bid and
the transfer of servicing), multiplied by a fraction equal to (a) the Servicer
Fee Amount for the Master Servicer or such Sub-Servicer, as the case may be, as
of such date of determination, over (b) the aggregate of the Servicer Fee
Amounts for the Master Servicer and all of the Sub-Servicers as of such date of
determination.

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

            "Breach": As defined in Section 2.03(a).

            "Business Day": Any day other than a Saturday, a Sunday or a day on
which banking institutions in New York, New York, or the cities in which the
Corporate Trust Office of the Trustee (which as of the Closing Date is Columbia,
Maryland), the offices of the Master Servicer (which as of the Closing Date is
Charlotte, North Carolina) or the offices of the Special Servicer (which as of
the Closing Date is Miami Beach, Florida) are located, are authorized or
obligated by law or executive order to remain closed.

            "Centro Syndicate 2 Pool Future Pari Passu Companion Loan": That
certain additional future mortgage loan, which is not an asset of the Trust
Fund, secured by the Mortgaged Property securing the Centro Syndicate 2 Pool
Loan, which will be pari passu in right of entitlement with the Centro Syndicate
2 Pool Loan.

            "Centro Syndicate 2 Pool Loan": That certain Mortgage Loan which is
included in the Trust Fund (identified as loan number 2 on the Mortgage Loan
Schedule).

            "Centro International Wholesale Pool Future Pari Passu Companion
Loan": That certain additional future mortgage loan, which is not an asset of
the Trust Fund, secured by the Mortgaged Property securing the Centro
International Wholesale Loan, which will be pari passu in right of entitlement
with the Centro International Wholesale Loan.

            "Centro International Wholesale Pool Loan": That certain Mortgage
Loan which is included in the Trust Fund (identified as loan number 4 on the
Mortgage Loan Schedule).

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

            "Certificate": Any one of the Wachovia Bank Commercial Mortgage
Trust, Commercial Mortgage Pass-Through Certificates, Series 2006-C29, as
executed by the Certificate Registrar and authenticated and delivered hereunder
by the Authenticating Agent.

            "Certificate Account": The segregated account or accounts created
and maintained by the Master Servicer pursuant to Section 3.04(a) on behalf of
the Trustee in trust for Certificateholders, which shall be entitled "Wachovia
Bank, National Association, as Master Servicer for Wells Fargo Bank, N.A., as
Trustee, on behalf of and in trust for the registered holders of Wachovia Bank
Commercial Mortgage Trust, Commercial Mortgage Pass-Through Certificates, Series
2006-C29." Subject to the related Intercreditor Agreement and taking into
account that (i) each Subordinate Companion Loan is subordinate to its related
Co-Lender Loan to the extent set forth in the related Intercreditor Agreement,
and (ii) the Pari Passu Companion Loans are pari passu with the related
Co-Lender Loan, each subaccount described in the next to last paragraph of
Section 3.04(a) that is part of the Certificate Account shall be for the benefit
of the related Companion Holder, to the extent funds on deposit in such
subaccount are attributed to the related Companion Loan.

            "Certificate Deferred Interest": The amount by which interest
distributable to any Class of Sequential Pay Certificates is reduced by the
amount of Mortgage Deferred Interest allocable to such Class of Certificates on
any Distribution Date.

            "Certificate Factor": With respect to any Class of Regular
Certificates as of any date of determination, a fraction, expressed as a decimal
carried to eight places, the numerator of which is the then current Class
Principal Balance or Class IO Notional Amount, as applicable, of such Class of
Regular Certificates and the denominator of which is the Original Class
Principal Balance or Original Class IO Notional Amount of such Class of Regular
Certificates.

            "Certificate Notional Amount": With respect to any Class IO
Certificate, as of any date of determination, the then notional amount of such
Certificate equal to the product of (a) the Percentage Interest evidenced by
such Certificate, multiplied by (b) the then applicable Class IO Notional
Amount.

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

            "Certificate Principal Balance": With respect to any Sequential Pay
Certificate, as of any date of determination, the then outstanding principal
amount of such Certificate equal to the product of (a) the Percentage Interest
evidenced by such Certificate multiplied by (b) the then Class Principal Balance
of the Class of Certificates to which such Certificate belongs.

            "Certificate Register" and "Certificate Registrar": The register
maintained and the registrar appointed pursuant to Section 5.02.

            "Certificateholder": The Person in whose name a Certificate is
registered in the Certificate Register, except that (i) only a Permitted
Transferee shall be the Holder of a Residual Certificate for any purpose hereof
and, (ii) solely for the purposes of giving any consent, approval or waiver
pursuant to this Agreement that relates to any of the Depositor, any Mortgage
Loan Seller, the Master Servicer, the Special Servicer or the Trustee in its
respective capacity as such (except with respect to amendments or waivers
referred to in Sections 7.04 and 11.01 hereof and any consent, approval or
waiver required or permitted to be made by the Majority Subordinate
Certificateholder or the Controlling Class Representative and any election,
removal or replacement of the Special Servicer or the Controlling Class
Representative pursuant to Section 6.09), any Certificate registered in the name
of the Depositor, any Mortgage Loan Seller, the Master Servicer, the Special
Servicer or the Trustee, as the case may be, or any Certificate registered in
the name of any of their respective Affiliates, shall be deemed not to be
outstanding, and the Voting Rights to which it is entitled shall not be taken
into account in determining whether the requisite percentage of Voting Rights
necessary to effect any such consent, approval or waiver that relates to it has
been obtained. The Certificate Registrar shall be entitled to request and rely
upon a certificate of the Depositor, the Master Servicer or the Special Servicer
in determining whether a Certificate is registered in the name of an Affiliate
of such Person. All references herein to "Holders" or "Certificateholders" shall
reflect the rights of Certificate Owners as they may indirectly exercise such
rights through the Depository and the Depository Participants, except as
otherwise specified herein; provided, however, the parties hereto shall be
required to recognize as a "Holder" or "Certificateholder" only the Person in
whose name a Certificate is registered in the Certificate Register.

            "Class": Collectively, all of the Certificates bearing the same
alphabetical and, if applicable, numerical class designation and each designated
REMIC I Regular Interest.

            "Class A Certificates": The Class A-1, Class A-2, Class A-PB, Class
A-3, Class A-4 and Class A-1A Certificates.

            "Class A-1 Certificate": Any one of the Certificates with a "Class
A-1" designation on the face thereof, substantially in the form of Exhibit A-1
attached hereto, and evidencing a "regular interest" in REMIC II for purposes of
the REMIC Provisions.

            "Class A-1A Certificate": Any one of the Certificates with a "Class
A-1A" designation on the face thereof, substantially in the form of Exhibit A-6
attached hereto, and evidencing a "regular interest" in REMIC II for purposes of
the REMIC Provisions.

            "Class A-2 Certificate": Any one of the Certificates with a "Class
A-2" designation on the face thereof, substantially in the form of Exhibit A-2
attached hereto, and evidencing a "regular interest" in REMIC II for purposes of
the REMIC Provisions.

            "Class A-3 Certificate": Any one of the Certificates with a "Class
A-3" designation on the face thereof, substantially in the form of Exhibit A-3
attached hereto, and evidencing a "regular interest" in REMIC II for purposes of
the REMIC Provisions.

            "Class A-4 Certificate": Any one of the Certificates with a "Class
A-4" designation on the face thereof, substantially in the form of Exhibit A-5
attached hereto, and evidencing a "regular interest" in REMIC II for purposes of
the REMIC Provisions.

            "Class A-J Certificate": Any one of the Certificates with a "Class
A-J" designation on the face thereof, substantially in the form of Exhibit A-9
attached hereto, and evidencing a "regular interest" in REMIC II for purposes of
the REMIC Provisions.

            "Class A-M Certificate": Any one of the Certificates with a "Class
A-M" designation on the face thereof, substantially in the form of Exhibit A-8
attached hereto, and evidencing a "regular interest" in REMIC II for purposes of
the REMIC Provisions.

            "Class A-PB Certificate": Any one of the Certificates with a "Class
A-PB" designation on the face thereof, substantially in the form of Exhibit A-4
attached hereto, and evidencing a "regular interest" in REMIC II for purposes of
the REMIC Provisions.

            "Class A-PB Planned Principal Amount": The planned principal amount
set forth on Exhibit R hereto relating to principal payments for the Class A-PB
Certificates.

            "Class B Certificate": Any one of the Certificates with a "Class B"
designation on the face thereof, substantially in the form of Exhibit A-10
attached hereto, and evidencing a "regular interest" in REMIC II for purposes of
the REMIC Provisions.

            "Class C Certificate": Any one of the Certificates with a "Class C"
designation on the face thereof, substantially in the form of Exhibit A-11
attached hereto, and evidencing a "regular interest" in REMIC II for purposes of
the REMIC Provisions.

            "Class D Certificate": Any one of the Certificates with a "Class D"
designation on the face thereof, substantially in the form of Exhibit A-12
attached hereto, and evidencing a "regular interest" in REMIC II for purposes of
the REMIC Provisions.

            "Class E Certificate": Any one of the Certificates with a "Class E"
designation on the face thereof, substantially in the form of Exhibit A-13
attached hereto, and evidencing a "regular interest" in REMIC II for purposes of
the REMIC Provisions.

            "Class F Certificate": Any one of the Certificates with a "Class F"
designation on the face thereof, substantially in the form of Exhibit A-14
attached hereto, and evidencing a "regular interest" in REMIC II for purposes of
the REMIC Provisions.

            "Class G Certificate": Any one of the Certificates with a "Class G"
designation on the face thereof, substantially in the form of Exhibit A-15
attached hereto, and evidencing a "regular interest" in REMIC II for purposes of
the REMIC Provisions.

            "Class H Certificate": Any one of the Certificates with a "Class H"
designation on the face thereof, substantially in the form of Exhibit A-16
attached hereto, and evidencing a "regular interest" in REMIC II for purposes of
the REMIC Provisions.

            "Class IO Certificate": Any one of the Certificates with a "Class
IO" designation on the face thereof, substantially in the form of Exhibit A-7
attached hereto, and evidencing the Components, each of which is a "regular
interest" in REMIC II for purposes of the REMIC Provisions.

            "Class IO Notional Amount": With respect to the Class IO
Certificates and any date of determination, the sum of the then Component
Notional Amounts of all the Components.

            "Class IO Strip Rate": With respect to any Class of Components for
any Distribution Date, a rate per annum equal to (i) the Weighted Average Net
Mortgage Rate for such Distribution Date, minus (ii) the Pass-Through Rate for
the Corresponding Certificates.

            "Class J Certificate": Any one of the Certificates with a "Class J"
designation on the face thereof, substantially in the form of Exhibit A-17
attached hereto, and evidencing a "regular interest" in REMIC II for purposes of
the REMIC Provisions.

            "Class K Certificate": Any one of the Certificates with a "Class K"
designation on the face thereof, substantially in the form of Exhibit A-18
attached hereto, and evidencing a "regular interest" in REMIC II for purposes of
the REMIC Provisions.

            "Class L Certificate": Any one of the Certificates with a "Class L"
designation on the face thereof, substantially in the form of Exhibit A-19
attached hereto, and evidencing a "regular interest" in REMIC II for purposes of
the REMIC Provisions.

            "Class M Certificate": Any one of the Certificates with a "Class M"
designation on the face thereof, substantially in the form of Exhibit A-20
attached hereto, and evidencing a "regular interest" in REMIC II for purposes of
the REMIC Provisions.

            "Class N Certificate": Any one of the Certificates with a "Class N"
designation on the face thereof, substantially in the form of Exhibit A-21
attached hereto, and evidencing a "regular interest" in REMIC II for purposes of
the REMIC Provisions.

            "Class O Certificate": Any one of the Certificates with a "Class O"
designation on the face thereof, substantially in the form of Exhibit A-22
attached hereto, and evidencing a "regular interest" in REMIC II for purposes of
the REMIC Provisions.

            "Class P Certificate": Any one of the Certificates with a "Class P"
designation on the face thereof, substantially in the form of Exhibit A-23
attached hereto, and evidencing a "regular interest" in REMIC II for purposes of
the REMIC Provisions.

            "Class Principal Balance": The aggregate principal balance of any
Class of Sequential Pay Certificates outstanding from time to time. As of the
Closing Date, the Class Principal Balance of each Class of Sequential Pay
Certificates shall equal the Original Class Principal Balance thereof. On each
Distribution Date, the Class Principal Balance of each such Class of
Certificates shall be reduced by the amount of any distributions of principal
made thereon on such Distribution Date pursuant to Section 4.01 or 9.01, as
applicable, and shall be further reduced by the amount of any Realized Losses
and Additional Trust Fund Expenses allocated thereto on such Distribution Date
pursuant to Section 4.04(a). The Class Principal Balance of any Class of
Sequential Pay Certificates will be increased on any Distribution Date by the
amount of any Certificate Deferred Interest allocated to such Class on such
Distribution Date. Distributions in respect of a reimbursement of Realized
Losses and Additional Trust Fund Expenses previously allocated to a Class of
Sequential Pay Certificates shall not constitute distributions of principal and
shall not result in reduction of the related Class Principal Balance.

            "Class Q Certificate": Any one of the Certificates with a "Class Q"
designation on the face thereof, substantially in the form of Exhibit A-24
attached hereto, and evidencing a "regular interest" in REMIC II for purposes of
the REMIC Provisions.

            "Class R-I Certificate": Any one of the Certificates with a "Class
R-I" designation on the face thereof, substantially in the form of Exhibit A-25
attached hereto, and evidencing the sole class of residual interests in REMIC I
for purposes of the REMIC Provisions.

            "Class R-II Certificate": Any one of the Certificates with a "Class
R-II" designation on the face thereof, substantially in the form of Exhibit A-26
attached hereto, and evidencing the sole class of "residual interests" in REMIC
II for purposes of the REMIC Provisions.

            "Class Z Certificate": Any one of the Certificates with a "Class Z"
designation on the face thereof, substantially in the form of Exhibit A-27
attached hereto, and evidencing an undivided beneficial interest in the
Additional Interest Grantor Trust that is described in Section 4.01(b).

            "Closing Date": December 21, 2006.

            "CMSA": The Commercial Mortgage Securities Association (formerly the
Commercial Real Estate Secondary Market and Securitization Association) or any
successor organization.

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

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

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

            "CMSA Comparative Financial Status Report": The report substantially
in the form of, and containing the information called for in, the downloadable
form of the "Comparative Financial Status Report" available as of the Closing
Date on the CMSA Website, or such other form for the presentation of such
information as may from time to time be approved by the CMSA for commercial
mortgage securities transactions generally. In connection with preparing the
CMSA Comparative Financial Status Report, the Master Servicer shall process (a)
interim financial statements beginning with interim financial statements for the
fiscal quarter ending March 31, 2007, and (b) annual financial statements
beginning with annual financial statements for the 2007 fiscal year.

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

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

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

            "CMSA Loan Level Reserve/LOC Report": The report substantially in
the form of, and containing the information called for in, the downloadable form
of the "CMSA Loan Level Reserve/LOC Report" available as of the Closing Date on
the CMSA Website, or such other form for the presentation of such information as
may from time to time be approved by the CMSA for commercial mortgage securities
transactions generally.

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

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

            "CMSA NOI Adjustment Worksheet": A report substantially in the form
of, and containing the information called for in, the downloadable form of the
"NOI Adjustment Worksheet" available as of the Closing Date on the CMSA Website,
or such other form for the presentation of such information and containing such
additional information as may from time to time be approved by the CMSA for
commercial mortgage securities transactions and in any event, shall present the
computations made in accordance with the methodology described in such form to
"normalize" the full year net operating income and debt service coverage numbers
used in the other reports required by this Agreement.

            "CMSA Operating Statement Analysis": A report substantially in the
form of, and containing the information called for in, the downloadable form of
the "Operating Statement Analysis Report" available as of the Closing Date on
the CMSA Website or in such other form for the presentation of such information
and containing such additional information as may from time to time be approved
by the CMSA for commercial mortgage-backed securities transactions generally. In
connection with preparing the CMSA Operating Statement Analysis, the Master
Servicer shall process (a) interim financial statements beginning with interim
financial statements for the fiscal quarter ending March 31, 2007 and (b) annual
financial statements beginning with annual financial statements for the 2007
fiscal year.

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

            "CMSA Reconciliation of Funds Report": The monthly report in the
"Reconciliation of Funds" format substantially in the form of and containing the
information called for therein for the Mortgage Loans, or such other form for
the presentation of such information as may be approved from time to time by the
CMSA for commercial mortgage securities transactions generally.

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

            "CMSA Servicer Watchlist": For any Determination Date, a report
substantially in the form of, and containing the information called for in, the
downloadable form of the "Servicer Watchlist/Portfolio Review Guidelines"
available as of the Closing Date on the CMSA Website, or in such other final
form for the presentation of such information and containing such additional
information as may from time to time be promulgated as approved by the CMSA for
commercial mortgage securities transactions generally.

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

            "CMSA Website": The website maintained by the CMSA with an address,
as of the Closing Date, of "www.cmbs.org".

            "Code": The Internal Revenue Code of 1986, as amended, and
applicable temporary or final regulations of the U.S. Department of the Treasury
promulgated thereunder.

            "Co-Lender Loans": As defined in the Preliminary Statement.

            "Collection Period": With respect to any Distribution Date, the
period that begins on the twelfth day in the month immediately preceding the
month in which such Distribution Date occurs (or, in the case of the initial
Distribution Date, commencing on the day after the related Cut-Off Date) and
ending on and including the eleventh day in the month in which such Distribution
Date occurs. Notwithstanding the foregoing, in the event that the last day of a
Collection Period is not a Business Day, any Periodic Payments or Principal
Prepayments with respect to the Mortgage Loans relating to a Due Date occurring
in such Collection Period (but for the application of the next Business Day
convention) received on the Business Day immediately following such day will be
deemed to have been received during such Collection Period and not during any
other Collection Period. In addition, notwithstanding the foregoing, with
respect to any Distribution Date, in the event that the Due Date, including any
grace period, with respect to any Mortgage Loan relating to such Distribution
Date occurs after the last day of the related Collection Period, any payments
received with respect to the related Mortgage Loan on or before such Due Date as
extended by any applicable grace period (including without limitation, any
prepayments) will be deemed to have been received during such Collection Period
and not during any other Collection Period.

            "Commission": The Securities and Exchange Commission or any
successor agency.

            "Companion Distribution Account": With respect to the Companion
Loans, other than the Non-Serviced Companion Loans, the separate account(s) or
subaccount(s) created and maintained by the Companion Paying Agent pursuant to
Section 3.04(b) and held on behalf of the Companion Holders, which shall be
entitled "Wachovia Bank, National Association, as Companion Paying Agent for the
Companion Holders of the Companion Loans relating to the Wachovia Bank
Commercial Mortgage Trust, Commercial Mortgage Pass-Through Certificates, Series
2006-C29." The Companion Distribution Accounts shall not be assets of the Trust
Fund, but instead each Companion Distribution Account shall be held by the
Companion Paying Agent on behalf of the applicable Companion Holder. Any such
account shall be an Eligible Account or a subaccount of an Eligible Account.
Notwithstanding the foregoing, if the Master Servicer and the Companion Paying
Agent are the same entity, the Companion Distribution Account may be the related
subaccount or subaccounts of the Certificate Account referenced in the second to
the last paragraph of Section 3.04(a).

            "Companion Holder": With respect to any Companion Loan, the owner of
the Mortgage Note representing such Companion Loan. As of the Closing Date, the
Companion Holders of the Companion Loans are (i) Wachovia Bank, National
Association, with respect to the Galleria at Tyler Subordinate Companion Loan,
(ii) the 2006-C28 Trust Fund, with respect to the Newport Bluffs Pari Passu
Companion Loan, (iii) Wachovia Bank, National Association, with respect to the
Renaissance Tower Office Building Subordinate Companion Loan, (iv) CBA-Mezzanine
Capital Finance, LLC, with respect to the Dakota Square Mall Subordinate
Companion Loan, (v) Caplease Debt Funding LP, with respect to the Aetna
Building-Fresno, CA Subordinate Companion Loans and (vi) Caplease Debt Funding,
LP, with respect to each of the FBI - Albany, NY Subordinate Companion Loans.

            "Companion Loan": As defined in the Preliminary Statement.

            "Companion Paying Agent": The paying agent appointed pursuant to
Section 3.26.

            "Companion Register": The register maintained by the Companion
Paying Agent pursuant to Section 3.27.

            "Component": Each of Component IO-A-1, Component IO-A-1A, Component
IO-A-2, Component IO-A-3, Component IO-A-PB, Component IO-A-4, Component IO-A-M,
Component IO-A-J, Component IO-B, Component IO-C, Component IO-D, Component
IO-E, Component IO-F, Component IO-G, Component IO-H, Component IO-J, Component
IO-K, Component IO-L, Component IO-M, Component IO-N, Component IO-O, Component
IO-P and Component IO-Q.

            "Component IO-A-1": One of 23 components of the Class IO
Certificates having a Component Notional Amount equal to the then current REMIC
I Principal Balance of REMIC I Regular Interest LA-1 as of any date of
determination.

            "Component IO-A-1A": One of 23 components of the Class IO
Certificates having a Component Notional Amount equal to the then current REMIC
I Principal Balance of REMIC I Regular Interest LA-1A as of any date of
determination.

            "Component IO-A-2": One of 23 components of the Class IO
Certificates having a Component Notional Amount equal to the then current REMIC
I Principal Balance of REMIC I Regular Interest LA-2 as of any date of
determination.

            "Component IO-A-3": One of 23 components of the Class IO
Certificates having a Component Notional Amount equal to the then current REMIC
I Principal Balance of REMIC I Regular Interest LA-3 as of any date of
determination.

            "Component IO-A-4": One of 23 components of the Class IO
Certificates having a Component Notional Amount equal to the then current REMIC
I Principal Balance of REMIC I Regular Interest LA-4 as of any date of
determination.

            "Component IO-A-J": One of the 23 components of the Class IO
Certificates having a Component Notional Amount equal to the then current REMIC
I Principal Balance of REMIC I Regular Interest LA-J as of any date of
determination.

            "Component IO-A-M": One of 23 components of the Class IO
Certificates having a Component Notional Amount equal to the then current REMIC
I Principal Balance of REMIC I Regular Interest LA-M as of any date of
determination.

            "Component IO-A-PB": One of 23 components of the Class IO
Certificates having a Component Notional Amount equal to the then current REMIC
I Principal Balance of REMIC I Regular Interest LA-PB as of any date of
determination.

            "Component IO-B": One of 23 components of the Class IO Certificates
having a Component Notional Amount equal to the then current REMIC I Principal
Balance of REMIC I Regular Interest LB as of any date of determination.

            "Component IO-C": One of 23 components of the Class IO Certificates
having a Component Notional Amount equal to the then current REMIC I Principal
Balance of REMIC I Regular Interest LC as of any date of determination.

            "Component IO-D": One of 23 components of the Class IO Certificates
having a Component Notional Amount equal to the then current REMIC I Principal
Balance of REMIC I Regular Interest LD as of any date of determination.

            "Component IO-E": One of 23 components of the Class IO Certificates
having a Component Notional Amount equal to the then current REMIC I Principal
Balance of REMIC I Regular Interest LE as of any date of determination.

            "Component IO-F": One of 23 components of the Class IO Certificates
having a Component Notional Amount equal to the then current REMIC I Principal
Balance of REMIC I Regular Interest LF as of any date of determination.

            "Component IO-G": One of 23 components of the Class IO Certificates
having a Component Notional Amount equal to the then current REMIC I Principal
Balance of REMIC I Regular Interest LG as of any date of determination.

            "Component IO-H": One of 23 components of the Class IO Certificates
having a Component Notional Amount equal to the then current REMIC I Principal
Balance of REMIC I Regular Interest LH as of any date of determination.

            "Component IO-J": One of 23 components of the Class IO Certificates
having a Component Notional Amount equal to the then current REMIC I Principal
Balance of REMIC I Regular Interest LJ as of any date of determination.

            "Component IO-K": One of 23 components of the Class IO Certificates
having a Component Notional Amount equal to the then current REMIC I Principal
Balance of REMIC I Regular Interest LK as of any date of determination.

            "Component IO-L": One of 23 components of the Class IO Certificates
having a Component Notional Amount equal to the then current REMIC I Principal
Balance of REMIC I Regular Interest LL as of any date of determination.

            "Component IO-M": One of 23 components of the Class IO Certificates
having a Component Notional Amount equal to the then current REMIC I Principal
Balance of REMIC I Regular Interest LM as of any date of determination.

            "Component IO-N": One of 23 components of the Class IO Certificates
having a Component Notional Amount equal to the then current REMIC I Principal
Balance of REMIC I Regular Interest LN as of any date of determination.

            "Component IO-O": One of 23 components of the Class IO Certificates
having a Component Notional Amount equal to the then current REMIC I Principal
Balance of REMIC I Regular Interest LO as of any date of determination.

            "Component IO-P": One of 23 components of the Class IO Certificates
having a Component Notional Amount equal to the then current REMIC I Principal
Balance of REMIC I Regular Interest LP as of any date of determination.

            "Component IO-Q": One of 23 components of the Class IO Certificates
having a Component Notional Amount equal to the then current REMIC I Principal
Balance of REMIC I Regular Interest LQ as of any date of determination.

            "Controlling Class": With respect to each Mortgage Loan as of any
date of determination, the Class of Sequential Pay Certificates, (i) which bears
the latest payment priority and (ii) the Class Principal Balance of which is
greater than 25% of the Original Class Principal Balance thereof; provided,
however, if no Class of Sequential Pay Certificates satisfies clause (ii) above,
the Controlling Class shall be the outstanding Class of Sequential Pay
Certificates bearing the latest payment priority. With respect to determining
the Controlling Class, the Class A-1, Class A-2, Class A-3, Class A-PB, Class
A-4 and Class A-1A Certificates shall be deemed a single Class of Certificates.

            "Controlling Class Representative": As defined in Section 3.25(a).

            "Controlling Person": With respect to any Person, any other Person
who "controls" such Person within the meaning of the Securities Act.

            "Corporate Trust Office": The corporate trust office of the Trustee
at which at any particular time its corporate trust business with respect to
this Agreement shall be administered, which office at the date of the execution
of this Agreement is located at (i) with respect to maintenance of the
Certificate Registrar and the transfer and exchange of Certificates, the office
of the Trustee located at Wells Fargo Center, Sixth and Marquette, Minneapolis,
Minnesota 55479 0113, Attention: Corporate Trust Services (CMBS) Wachovia Bank
Commercial Mortgage Trust, Series 2006-C29 and (ii) for all other purposes, the
office of the Trustee located at 9062 Old Annapolis Road, Columbia, Maryland
21045 1951, Attention: Corporate Trust Services (CMBS) Wachovia Bank Commercial
Mortgage Trust, Series 2006 C29.

            "Corrected Mortgage Loan": Any Mortgage Loan (other than the
2006-C28 Serviced Mortgage Loan) and, if applicable, any Companion Loan (other
than the Non-Serviced Companion Loans) that had been a Specially Serviced
Mortgage Loan but has ceased to be a Specially Serviced Mortgage Loan in
accordance with the definition of "Specially Serviced Mortgage Loan."

            "Corresponding Certificate": As defined in the Preliminary Statement
with respect to any Corresponding Component or any Corresponding REMIC I Regular
Interest.

            "Corresponding Component": As defined in the Preliminary Statement
with respect to any Corresponding Certificate or any Corresponding REMIC I
Regular Interest.

            "Corresponding REMIC I Regular Interest": As defined in the
Preliminary Statement with respect to any Class of Corresponding Certificates or
any Corresponding Component of the Class IO Certificates.

            "Crossed Group": With respect to any Mortgage Loan, such Mortgage
Loan and all other Mortgage Loans that are cross-collateralized and
cross-defaulted with such Mortgage Loan.

            "Crossed Loan": A Mortgage Loan that is cross-collateralized and
cross-defaulted with one or more other Mortgage Loans.

            "Crossed Loan Repurchase Criteria": (i) The Debt Service Coverage
Ratio for all remaining related Crossed Loans for the four calendar quarters
immediately preceding the repurchase or substitution is not less than the Debt
Service Coverage Ratio for all such related Crossed Loans, including the
affected Crossed Loan, for the four calendar quarters immediately preceding the
repurchase or substitution, (ii) the Loan-to-Value Ratio for any remaining
related Crossed Loans determined at the time of repurchase or substitution based
upon an Appraisal obtained by the Special Servicer at the expense of the related
Mortgage Loan Seller is not greater than the Loan-to-Value Ratio for all such
related Crossed Loans, including the affected Crossed Loan, determined at the
time of repurchase or substitution based upon an Appraisal obtained by the
Special Servicer at the expense of the related Mortgage Loan Seller and (iii)
the Mortgage Loan Seller, at its expense, shall have furnished the Trustee with
an Opinion of Counsel that the repurchase of or substitution for a Crossed Loan,
including, without limitation, any modification relating to such repurchase or
substitution, shall not cause an Adverse REMIC Event.

            "Custodian": A Person who is at any time appointed by the Trustee
pursuant to Section 8.11 as a document custodian for the Mortgage Files, which
Person shall not be the Depositor, a Mortgage Loan Seller or an Affiliate of the
Depositor or a Mortgage Loan Seller. If no such custodian has been appointed or
if such custodian has been so appointed, but the Trustee shall have terminated
such appointment, then the Trustee shall be the Custodian.

            "Cut-Off Date": With respect to any Mortgage Loan or Companion Loan,
the Due Date for such Mortgage Loan or Companion Loan in December 2006.

            "Cut-Off Date Balance": With respect to any Mortgage Loan or
Companion Loan, the outstanding principal balance of such Mortgage Loan or
Companion Loan as of the Cut-Off Date, after application of all unscheduled
payments of principal received on or before such date and the principal
component of all Periodic Payments due on or before such date, whether or not
received.

            "Dakota Square Mall Intercreditor Agreement": The Intercreditor
Agreement Among Note Holders, dated as of November 9, 2006, by and between
Wachovia Bank, National Association, as A Note Holder, and CBA-Mezzanine Capital
Finance, LLC, as B Note Holder, relating to the Dakota Square Mall Whole Loan.

            "Dakota Square Mall Loan": That certain Mortgage Loan which is
included in the Trust Fund (identified as loan number 11 on the Mortgage Loan
Schedule).

            "Dakota Square Mall Subordinate Companion Loan": That certain
mortgage loan evidenced by a note, which is not an asset of the Trust Fund,
secured by the Mortgaged Property securing the Dakota Square Mall Loan and
subordinate in right of entitlement to the Dakota Square Mall Loan.

            "Dakota Square Mall Whole Loan": The Dakota Square Mall Loan,
together with the Dakota Square Mall Subordinate Companion Loan.

            "Debt Service Coverage Ratio": With respect to any Mortgage Loan, as
of any date of determination, the ratio of (x) the annualized Net Operating
Income (before payment of any debt service on such Mortgage Loan) generated by
the related Mortgaged Property during the most recently ended period of not less
than six months and not more than twelve months for which financial statements,
if available (whether or not audited) have been received by or on behalf of the
related Mortgage Loan Seller (prior to the Closing Date) or the Master Servicer
or the Special Servicer (following the Closing Date), to (y) twelve times the
amount of the Periodic Payment in effect for such Mortgage Loan as of such date
of determination.

            "Defaulted Mortgage Loan": A Mortgage Loan (i) that is delinquent 60
days or more with respect to a Periodic Payment (not including the Balloon
Payment) or (ii) that is delinquent in respect of its Balloon Payment; provided,
however, if the Mortgagor continues to make its Assumed Scheduled Payment and
diligently pursues refinancing, such Mortgage Loan shall not be considered a
Defaulted Mortgage Loan until 60 days following such default (or, if the Master
Servicer has, within 60 days after the Due Date of such Balloon Payment,
received written evidence from an institutional lender of such lender's binding
commitment (which is reasonably acceptable to the Special Servicer and for which
the Controlling Class Representative has given its consent (which consent shall
be deemed denied if not granted within 10 Business Days)) to refinance such
Mortgage Loan, 120 days following such default) (provided that if such
refinancing does not occur during such time specified in the commitment, the
related Mortgage Loan will immediately become a Defaulted Mortgage Loan), in
either case such delinquency to be determined without giving effect to any grace
period permitted by the related Mortgage or Mortgage Note and without regard to
any acceleration of payments under the related Mortgage and Mortgage Note, or
(iii) as to which the Master Servicer or Special Servicer has, by written notice
to the related Mortgagor, accelerated the maturity of the indebtedness evidenced
by the related Mortgage Note.

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

            "Defeasance Collateral": With respect to any Defeasance Loan, the
United States government securities required or permitted to be pledged in lieu
of prepayment pursuant to the terms thereof.

            "Defeasance Loan": Any Mortgage Loan identified as a Defeasance Loan
on the Mortgage Loan Schedule which permits or requires the related Mortgagor
(or permits the holder of such Mortgage Loan to require the related Mortgagor)
to pledge Defeasance Collateral to such holder in lieu of prepayment.

            "Deficient Valuation": With respect to any Mortgage Loan, a
valuation by a court of competent jurisdiction of the Mortgaged Property in an
amount less than the then outstanding principal balance of the Mortgage Loan,
which valuation results from a proceeding initiated under the Bankruptcy Code.

            "Definitive Certificate": As defined in Section 5.03(a).

            "Depositor": Wachovia Commercial Mortgage Securities, Inc. or its
successor in interest.

            "Depository": The Depository Trust Company, or any successor
Depository hereafter named as contemplated by Section 5.03(c). The nominee of
the initial Depository for purposes of registering those Certificates that are
to be Book-Entry Certificates is Cede & Co. The Depository shall at all times be
a "clearing corporation" as defined in Section 8-102(3) of the Uniform
Commercial Code of the State of New York and a "clearing agency" registered
pursuant to the provisions of Section 17A of the Securities Exchange Act of
1934, as amended.

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

            "Determination Date": The eleventh day of each month, or if such
eleventh day is not a Business Day, the Business Day immediately succeeding,
commencing in January 2007.

            "Determination Party": Midland Loan Services, Inc., or a second
party that would qualify as a successor Special Servicer mutually agreeable to
the Special Servicer, the Controlling Class Representative and the applicable
Mortgage Loan Seller, or any successor in interest thereto; provided that (a)
each such party is on the list of approved special servicers by Moody's and on
S&P's Select Servicer List as a U.S. Commercial Mortgage Special Servicer or (b)
each Rating Agency has confirmed in writing that contracting with such
Determination Party would not result in a downgrade, qualification or withdrawal
of the then current rating assigned to any of the Certificates that are then
currently rated by such Rating Agency.

            "Directly Operate": With respect to any REO Property, the furnishing
or rendering of services to the tenants thereof, the management of such REO
Property, the holding of such REO Property primarily for sale or lease or the
performance of any construction work thereon, in each case other than through an
Independent Contractor; provided, however, the Trustee (or the Special Servicer
or any Sub-Servicer on behalf of the Trustee) shall not be considered to
Directly Operate an REO Property solely because the Trustee (or the Special
Servicer or any Sub-Servicer on behalf of the Trustee) establishes rental terms,
chooses tenants, enters into or renews leases, deals with taxes and insurance,
or makes decisions as to repairs or capital expenditures with respect to such
REO Property.

            "Discount Rate": With respect to any prepaid Mortgage Loan or REO
Loan for purposes of allocating any Yield Maintenance Charge or Prepayment
Premium received thereon or with respect thereto among the respective Classes of
the Sequential Pay Certificates (other than any Excluded Class thereof), an
amount, calculated by the Master Servicer and reported to the Trustee pursuant
to Section 4.02(b), will be equal to the discount rate stated in the related
Mortgage Loan documents used in calculating the Yield Maintenance Charge or
Prepayment Premium with respect to such principal prepayment. To the extent that
a discount rate is not stated therein, the "Discount Rate" will be equal to the
yield (when compounded monthly) on the U.S. Treasury issue with a maturity date
closest to the maturity date for such prepaid Mortgage Loan or REO Loan. In the
event there are two or more such U.S. Treasury issues (a) with the same coupon,
the issue with the lowest yield shall apply, and (b) with maturity dates equally
close to the maturity date for the prepaid Mortgage Loan or REO Loan, the issue
with the earliest maturity date shall apply.

            "Disqualified Non-United States Person": With respect to a Class R-I
or Class R-II Certificate, any Non-United States Person or agent thereof other
than (i) a Non-United States Person that holds the Class R-I or Class R-II
Certificate in connection with the conduct of a trade or business within the
United States and has furnished the transferor and the Certificate Registrar
with an effective IRS Form W-8ECI (or successor form) or (ii) a Non-United
States Person that has delivered to both the transferor and the Certificate
Registrar an opinion of a nationally recognized tax counsel to the effect that
the transfer of the Class R-I or Class R-II Certificate to it is in accordance
with the requirements of the Code and the regulations promulgated thereunder and
that such transfer of the Class R-I or Class R-II Certificate will not be
disregarded for federal income tax purposes.

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

            "Distributable Certificate Interest": With respect to: (a) any Class
of Sequential Pay Certificates for any Distribution Date, the Accrued
Certificate Interest in respect of such Class of Certificates for such
Distribution Date, reduced (to not less than zero) by (i) the product of (A) any
Net Aggregate Prepayment Interest Shortfall for such Distribution Date, (B) a
fraction, expressed as a decimal, the numerator of which is the Accrued
Certificate Interest in respect of such Class of Certificates for such
Distribution Date, and the denominator of which is the aggregate Accrued
Certificate Interest in respect of all the Classes of Sequential Pay
Certificates for such Distribution Date, and (ii) with respect to each such
Class, such Class' share of any Certificate Deferred Interest allocated to such
Class of Certificates in accordance with Section 4.04(c); and (b) the Class IO
Certificates for any Distribution Date, the Accrued Certificate Interest in
respect of such Class of Certificates for such Distribution Date.

            "Distribution Account": The segregated account, accounts or
subaccounts created and maintained by the Paying Agent on behalf of the Trustee
pursuant to Section 3.04(b) which shall be entitled "Wells Fargo Bank, N.A., as
Trustee, in trust for the registered holders of Wachovia Bank Commercial
Mortgage Trust, Commercial Mortgage Pass-Through Certificates, Series 2006-C29."

            "Distribution Date": With respect to any Determination Date, the
fourth Business Day following such Determination Date.

            "Distribution Date Statement": As defined in Section 4.02(a).

            "Do Not Hire List": The list, as may be updated at any time,
provided by the Depositor to the Master Servicer, the Special Servicer and the
Trustee, which lists certain parties identified by the Depositor as having
failed to comply with their respective obligations under Section 8.17 of this
Agreement or as having failed to comply with any similar Regulation AB reporting
requirements under any pooling and servicing agreement relating to any other
series of certificates offered by the Depositor.

            "Document Defect": As defined in Section 2.03(a).

            "Domestic Global Certificate": Any of the single, permanent global
certificates that represents the Certificates sold in reliance on Rule 144A
under the Act.

            "Due Date": With respect to (i) any Mortgage Loan on or prior to its
Stated Maturity Date or any Companion Loan on or prior to its maturity date, the
day of the month set forth in the related Mortgage Note on which each Periodic
Payment on such Mortgage Loan or Companion Loan is scheduled to be first due;
(ii) any Mortgage Loan after its Stated Maturity Date or any Companion Loan
after its maturity date, the day of the month set forth in the related Mortgage
Note on which each Periodic Payment on such Mortgage Loan or Companion Loan had
been scheduled to be first due and (iii) any REO Loan, the day of the month set
forth in the related Mortgage Note on which each Periodic Payment on the related
Mortgage Loan had been scheduled to be first due.

            "EDGAR": The Commission's Electronic Data Gathering, Analysis and
Retrieval system.

            "Eligible Account": Any of (i) an account maintained with a federal
or state chartered depository institution or trust company, and (a) with respect
to deposits held for 30 days or more in such account, the long-term deposit or
unsecured debt obligations of which are rated at least (A) "Aa3" by Moody's (if
then rated by Moody's), (B) "AA-" by S&P (or "A-"; provided the short-term
unsecured debt obligations are rated at least "A-1" by S&P) and (C) "AA-" by
Fitch (or "A-"; provided the short term unsecured debt obligations are rated at
least "F-1" by Fitch) (or, with respect to any such Rating Agency, such lower
rating as will not result in qualification, downgrading or withdrawal of the
ratings then assigned to the Certificates, as evidenced in writing by the
applicable Rating Agency), at any time such funds are on deposit therein or (b)
with respect to deposits held for less than 30 days in such account, the
short-term deposits of which are rated at least "P-1" by Moody's (if then rated
by Moody's), "A-1" by S&P and "F1" by Fitch (or, with respect to any such Rating
Agency, such lower rating as will not result in qualification, downgrading or
withdrawal of the ratings then assigned to the Certificates) as evidenced in
writing by the applicable Rating Agency at any time such funds are on deposit
therein; or (ii) a segregated trust account or accounts maintained with a
federal or state chartered depository institution or trust company acting in its
fiduciary capacity, which, in the case of a state chartered depository
institution or trust company, is subject to regulations regarding fiduciary
funds on deposit therein substantially similar to 12 CFR ss. 9.10(b), the long
term deposits or unsecured debt of which, or if it is the wholly-owned
subsidiary of an entity the long-term deposits or unsecured obligations of
which, are rated at least "Baa3" by Moody's and which has a combined capital and
surplus of at least $50,000,000; or (iii) any other account, the use of which
would not, in and of itself, cause a qualification, downgrading or withdrawal of
the then-current rating assigned to any Class of Certificates, as confirmed in
writing by each Rating Agency.

            "Environmental Assessment": A "Phase I assessment" as described in,
and meeting the criteria of, (i) Chapter 5 of the FNMA Multifamily Guide or any
successor provisions covering the same subject matter in the case of a Specially
Serviced Mortgage Loan as to which the related Mortgaged Property is multifamily
property or (ii) the American Society for Testing and Materials in the case of
Specially Serviced Mortgage Loan as to which the related Mortgaged Property is
not multifamily property.

            "ERISA": The Employee Retirement Income Security Act of 1974, as
amended, and any regulations and administrative pronouncements thereunder.

            "ERISA Restricted Certificate": Any Class K, Class L, Class M, Class
N, Class O, Class P or Class Q Certificate; provided that any such Certificate
(a) will cease to be considered an ERISA Restricted Certificate and (b) will
cease to be subject to the transfer restrictions related to ERISA Restricted
Certificates contained in Section 5.02(c) if, as of the date of a proposed
transfer of such Certificate, either (i) it is rated in one of the four highest
generic ratings categories by a Rating Agency or (ii) relevant provisions of
ERISA and the Code would permit transfer of such Certificate to a Plan without
resulting in a non-exempt prohibited transaction.

            "Escrow Payment": Any payment received by the Master Servicer or the
Special Servicer for the account of any Mortgagor for application toward the
payment of real estate taxes, assessments, insurance premiums, ground rents (if
applicable) and other similar items in respect of the related Mortgaged
Property.

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

            "Exchange Act": Securities Exchange Act of 1934, as amended.

            "Exchange Certificate": The certificate necessary to exchange an
interest in a Regulation S Global Certificate for an interest in a Domestic
Global Certificate, which is in the form of Exhibit F-4 attached hereto, or the
certificate necessary to exchange an interest in a Domestic Global Certificate
for an interest in a Regulation S Global Certificate, which is in the form of
Exhibit F-5 or Exhibit F-6, as applicable, hereto, in each case as described in
Section 5.02(e).

            "Excluded Class": Any Class of Sequential Pay Certificates other
than the Class A-1 Certificates, Class A-2 Certificates, Class A-3 Certificates,
Class A-PB Certificates, Class A-4 Certificates, Class A-1A Certificates, Class
A-M Certificates, Class A-J Certificates, Class B Certificates, Class C
Certificates, Class D Certificates, Class E Certificates, Class F Certificates,
Class G Certificates, Class H Certificates and Class J Certificates.

            "Exemptions": Department of Labor Prohibited Transaction Exemption
("PTE") 96-22, PTE 89-88 and PTE 90-59, each as amended from time to time, or
any successor thereto.

            "FBI - Albany, NY Intercreditor Agreement": The Intercreditor
Agreement Among Note Holders, dated as of June 29, 2006, by and among Wachovia
Bank, National Association, as Senior Note A Holder, Caplease Debt Funding, LP,
as Junior Note A Holder, and Caplease Debt Funding, LP, as Note B Holder,
relating to the FBI - Albany, NY Whole Loan.

            "FBI - Albany, NY Loan": That certain Mortgage Loan which is
included in the Trust Fund (identified as loan number 80 on the Mortgage Loan
Schedule).

            "FBI - Albany, NY Subordinate Companion Loans": Those certain
mortgage loans , each evidenced by a note, which are not assets of the Trust
Fund, both secured by the Mortgaged Property securing the FBI - Albany, NY Loan
and subordinate in right of entitlement to the FBI - Albany, NY Loan.

            "FBI - Albany, NY Whole Loan": The FBI - Albany, NY Loan,
collectively with the FBI - Albany, NY Subordinate Companion Loans.

            "FDIC": Federal Deposit Insurance Corporation, or its successor in
interest.

            "FHLMC": Federal Home Loan Mortgage Corporation, or its successor in
interest.

            "Final Recovery Determination": A determination by the Special
Servicer with respect to any Defaulted Mortgage Loan (and, if applicable, any
defaulted Companion Loan) or REO Property (other than a Mortgage Loan or REO
Property, as the case may be, that was purchased by either Mortgage Loan Seller
pursuant to the applicable Mortgage Loan Purchase Agreement or by the Majority
Subordinate Certificateholder, the applicable Companion Holder or the Special
Servicer pursuant to Section 3.18(c), 3.18(d), 3.18(e) or 3.18(h), or by the
Master Servicer, the Special Servicer or the Majority Subordinate
Certificateholder pursuant to Section 9.01) that there has been a recovery of
all Insurance Proceeds, Liquidation Proceeds and other payments or recoveries
that the Special Servicer has determined, in accordance with the Servicing
Standard, will be ultimately recoverable (or, in the case of the 2006-C28
Serviced Mortgage Loan, a "Final Recovery Determination" as defined in the
2006-C28 Pooling and Servicing Agreement with respect to such Mortgage Loan).

            "Fitch": Fitch, Inc., or its successor in interest. If neither Fitch
nor any successor remains in existence, "Fitch" shall be deemed to refer to such
other nationally recognized statistical rating agency or any other comparable
Person designated by the Depositor, notice of which designation shall be given
to the Trustee, the Master Servicer and the Special Servicer, and specific
ratings of Fitch herein referenced shall be deemed to refer to the equivalent
ratings of the party so designated.

            "FNMA": Federal National Mortgage Association, or any successor in
interest.

            "Form 8-K Disclosure Information": As defined in Section 8.17(j).

            "Gain-on-Sale Proceeds": With respect to any Mortgage Loan, the
excess of (i) Liquidation Proceeds of the Mortgage Loan or related REO Property
net of any related Liquidation Expenses, over (ii) the Purchase Price for such
Mortgage Loan on the date on which such Liquidation Proceeds were received.

            "Gain-on-Sale Reserve Account": A segregated custodial account or
accounts or subaccount of the Distribution Account created and maintained by the
Paying Agent pursuant to Section 3.04(e) on behalf of the Trustee in trust for
the Certificateholders, which shall be entitled "Wells Fargo Bank, N.A., as
Trustee, in trust for the registered holders of Wachovia Bank Commercial
Mortgage Trust, Commercial Mortgage Pass-Through Certificates, Series 2006-C29."
Any such account shall be an Eligible Account or a subaccount of an Eligible
Account.

            "Galleria at Tyler Control Appraisal Period": The "Control Appraisal
Period" as that term is defined in the Galleria at Tyler Intercreditor
Agreement.

            "Galleria at Tyler Intercreditor Agreement": The Intercreditor
Agreement Among Note Holders, dated as of September 29, 2006, by and between
Wachovia Bank, National Association, as Lead Lender, and Wachovia Bank, National
Association, as Co-Lender, relating to the Galleria at Tyler Whole Loan.

            "Galleria at Tyler Loan": That certain Mortgage Loan which is
included in the Trust Fund (identified as loan number 3 on the Mortgage Loan
Schedule).

            "Galleria at Tyler Subordinate Companion Loan": That certain
mortgage loan evidenced by a note, which is not an asset of the Trust Fund,
secured by the Mortgaged Property securing the Galleria at Tyler Loan and
subordinate in right of entitlement to the Galleria at Tyler Loan.

            "Galleria at Tyler Whole Loan": The Galleria at Tyler Loan, together
with the Galleria at Tyler Subordinate Companion Loan.

            "Global Certificates": The Certificates represented by the
Regulation S Global Certificates and/or the Domestic Global Certificates.

            "Grantor Trust Provisions": Subpart E of Part I of subchapter J of
the Code and Treasury Regulations Section 301.7701-4(c).

            "Ground Lease": With respect to any Mortgage Loan for which the
Mortgagor has a leasehold interest in the related Mortgaged Property or space
lease within such Mortgaged Property, the lease agreement creating such
leasehold interest.

            "Group 1 Mortgage Loan": Any Mortgage Loan identified on the
Mortgage Loan Schedule as belonging to Loan Group 1.

            "Group 2 Mortgage Loan": Any Mortgage Loan identified on the
Mortgage Loan Schedule as belonging to Loan Group 2.

            "Hazardous Materials": Any dangerous, toxic or hazardous pollutants,
chemicals, wastes, or substances, including, without limitation, those so
identified pursuant to CERCLA or any other federal, state or local environmental
related laws and regulations now existing or hereafter enacted, and specifically
including, without limitation, asbestos and asbestos-containing materials,
polychlorinated biphenyls ("PCBs"), radon gas, petroleum and petroleum products
and urea formaldehyde.

            "Holder": A Certificateholder.

            "HUD-Approved Servicer": A servicer approved by the Secretary of
Housing and Urban Development pursuant to Section 207 of the National Housing
Act.

            "Impound Reserve": As defined in Section 3.16(c) hereof.

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

            "Independent Appraiser": An Independent professional real estate
appraiser who is a member in good standing of the Appraisal Institute, and, if
the State in which the subject Mortgaged Property is located certifies or
licenses appraisers, certified or licensed in such State, and in each such case,
who has a minimum of five years experience in the subject property type and
market.

            "Independent Contractor": Any Person that would be an "independent
contractor" with respect to REMIC I within the meaning of Section 856(d)(3) of
the Code if REMIC I were a real estate investment trust (except that the
ownership test set forth in that section shall be considered to be met by any
Person that owns, directly or indirectly, 35 percent or more of any Class of
Certificates, or such other interest in any Class of Certificates as is set
forth in an Opinion of Counsel, which shall be delivered, at no expense to the
Master Servicer, the Special Servicer, the Trustee or the Trust Fund, to the
Trustee and the Master Servicer, so long as REMIC I does not receive or derive
any income from such Person; provided that the relationship between such Person
and REMIC I is at arm's length, all within the meaning of Treasury Regulations
Section 1.856-4(b)(5)), or any other Person upon receipt by the Trustee of an
Opinion of Counsel, which shall be at no expense to the Master Servicer, the
Special Servicer, the Trustee or the Trust Fund, to the effect that the taking
of any action in respect of any REO Property by such Person, subject to any
conditions therein specified, that is otherwise herein contemplated to be taken
by an Independent Contractor will not cause such REO Property to cease to
qualify as "foreclosure property" within the meaning of Section 860G(a)(8) of
the Code, or cause any income realized in respect of such REO Property to fail
to qualify as Rents from Real Property as defined in Section 856(d) of the Code.

            "Initial Purchaser": Wachovia Capital Markets, LLC, or its
respective successors in interest, individually or collectively as the context
requires.

            "Institutional Accredited Investor": Institutional "accredited
investors" as defined in Rule 501(a)(1), (2), (3) or (7) of Regulation D under
the Securities Act or any entity in which all the equity holders fall within any
such subsections.

            "Insurance Policy": With respect to any Mortgage Loan, any hazard
insurance policy, flood insurance policy, title policy or other insurance policy
that is maintained from time to time in respect of such Mortgage Loan or the
related Mortgaged Property.

            "Insurance Proceeds": Proceeds paid under any Insurance Policy, to
the extent such proceeds are not applied to the restoration of the related
Mortgaged Property, released to the Mortgagor, or any tenants or ground lessors,
as the case may be, pursuant to the terms of the related Mortgage or lease, in
accordance with the Servicing Standard.

            "Insured Environmental Event": As defined in Section 3.08(c).

            "Intercreditor Agreement": Each of the Galleria at Tyler
Intercreditor Agreement, the Newport Bluffs Pari Passu Intercreditor Agreement,
the Renaissance Tower Office Building Intercreditor Agreement, the Dakota Square
Mall Intercreditor Agreement, the Aetna Building-Fresno, CA Intercreditor
Agreement and the FBI - Albany, NY Intercreditor Agreement, individually or
collectively, as the context may require.

            "Interest Accrual Period": With respect to each Class of Regular
Certificates, REMIC I Regular Interests or Component and any Distribution Date,
the calendar month immediately preceding the calendar month in which such
Distribution Date occurs. Notwithstanding the foregoing, each Interest Accrual
Period is deemed to consist of 30 days for purposes of calculating interest on
the Regular Certificates, the REMIC I Regular Interests and Components.

            "Interest Reserve Account": The segregated account created and
maintained by the Trustee pursuant to Section 3.04(c) in trust for
Certificateholders, which shall be entitled "Wells Fargo Bank, N.A., as Trustee,
on behalf of and in trust for the registered holders of Wachovia Bank Commercial
Mortgage Trust, Commercial Mortgage Pass-Through Certificates, Series 2006-C29".

            "Interest Reserve Amount": With respect to each Interest Reserve
Loan and each Distribution Date that occurs in February of each year and in
January of each year that is not a leap year (unless, in either case, the
related Distribution Date is the final Distribution Date), an amount equal to
one day's interest at the related Mortgage Rate (without regard to the second
proviso in the definition thereof) on the related Stated Principal Balance as of
the Due Date in the month in which such Distribution Date occurs (but prior to
the application of any amounts owed on such Due Date), to the extent a Periodic
Payment or P&I Advance is made in respect thereof for such Due Date as of the
related P&I Advance Date.

            "Interest Reserve Loan": Each Mortgage Loan that is an Actual/360
Mortgage Loan.

            "Interest Shortfall Account": As defined in Section 3.04(g).

            "Interest Shortfall Amount": $0.

            "Interested Person": The Depositor, any Mortgage Loan Seller, the
Master Servicer, the Special Servicer, any Independent Contractor hired by the
Special Servicer, any Holder of a Certificate, each Companion Holder (but only
with respect to the related Co-Lender Loan) or any Affiliate of any such Person.

            "Internet Website": The Internet Websites maintained by the Trustee
and, if applicable, the Master Servicer initially located at "www.ctslink.com"
and "www.wachovia.com", respectively, or such other address as provided to the
parties hereto from time to time.

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

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

            "Late Collections": With respect to any Mortgage Loan or Companion
Loan, all amounts received thereon during any Collection Period, other than
Penalty Interest, whether as payments, Insurance Proceeds, Liquidation Proceeds
or otherwise, which represent late collections of the principal and/or interest
portions of a Scheduled Payment (other than a Balloon Payment) or an Assumed
Scheduled Payment in respect of such Mortgage Loan or Companion Loan due or
deemed due on a Due Date in a previous Collection Period, and not previously
recovered. With respect to any REO Loan, all amounts received in connection with
the related REO Property during any Collection Period, whether as Insurance
Proceeds, Liquidation Proceeds, REO Revenues or otherwise, which represent late
collections of the principal and/or interest portions of a Scheduled Payment
(other than a Balloon Payment) or an Assumed Scheduled Payment in respect of the
predecessor Mortgage Loan or of an Assumed Scheduled Payment in respect of such
REO Loan due or deemed due on a Due Date in a previous Collection Period and not
previously recovered.

            "Liquidation Event": With respect to any Mortgage Loan, any of the
following events: (i) such Mortgage Loan is paid in full; (ii) a Final Recovery
Determination is made with respect to such Mortgage Loan; (iii) such Mortgage
Loan is repurchased by a Mortgage Loan Seller pursuant to the applicable
Mortgage Loan Purchase Agreement; or (iv) such Mortgage Loan is purchased by the
Majority Subordinate Certificateholder, the Companion Holders, the mezzanine
lenders or the Special Servicer pursuant to Section 3.18(c), 3.18(d), 3.18(e) or
3.18(m), or by the Master Servicer, the Special Servicer or the Majority
Subordinate Certificateholder pursuant to Section 9.01. With respect to any REO
Property (and the related REO Loan), any of the following events: (i) a Final
Recovery Determination is made with respect to such REO Property; (ii) such REO
Property is purchased by the Master Servicer, the Special Servicer or the
Majority Subordinate Certificateholder pursuant to Section 9.01; or (iii) such
REO Property is purchased by the Companion Holder as described in Section
3.18(d).

            "Liquidation Fee": With respect to each Specially Serviced Mortgage
Loan and REO Loan, the fee payable to the Special Servicer out of certain
related recoveries pursuant to the third paragraph of Section 3.11(c).

            "Liquidation Fee Rate": With respect to all amounts set forth in the
third paragraph of Section 3.11(c), 1.00%.

            "Liquidation Proceeds": All cash amounts (other than Insurance
Proceeds and REO Revenues) received by the Master Servicer or the Special
Servicer in connection with: (i) the taking of all or a part of a Mortgaged
Property or REO Property by exercise of the power of eminent domain or
condemnation, subject, however, to the rights of any tenants and ground lessors,
as the case may be, and the rights of the Mortgagor under the terms of the
related Mortgage; (ii) the liquidation of a Mortgaged Property or other
collateral constituting security for a Defaulted Mortgage Loan, through
trustee's sale, foreclosure sale, REO Disposition or otherwise, exclusive of any
portion thereof required to be released to the related Mortgagor in accordance
with applicable law and the terms and conditions of the related Mortgage Note
and Mortgage; (iii) the realization upon any deficiency judgment obtained
against a Mortgagor; (iv) the purchase of a Defaulted Mortgage Loan by the
Majority Subordinate Certificateholder, the related Companion Holder, the
mezzanine lenders or the Special Servicer pursuant to Section 3.18(c), Section
3.18(d), Section 3.18(e) or Section 3.18(m); (v) the repurchase of a Mortgage
Loan by a Mortgage Loan Seller pursuant to the applicable Mortgage Loan Purchase
Agreement; (vi) the purchase of a Mortgage Loan or REO Property by the Master
Servicer, the Special Servicer, or the Majority Subordinate Certificateholder
pursuant to Section 9.01; (vii) the purchase of an REO Property by the Companion
Holder pursuant to Section 3.18(d); or (viii) the remittance by the applicable
Mortgage Loan Seller of amounts specified in Section 2.03(g).

            "Loan Group": Either Loan Group 1 or Loan Group 2.

            "Loan Group 1": Collectively, all of the Mortgage Loans that are
Group 1 Mortgage Loans and any successor REO Loans with respect thereto.

            "Loan Group 1 Available Distribution Amount": With respect to any
Distribution Date, that portion, if any, of the Available Distribution Amount
attributable to Loan Group 1.

            "Loan Group 1 Principal Distribution Amount": With respect to any
Distribution Date, that portion, if any, of the Principal Distribution Amount
attributable to Loan Group 1.

            "Loan Group 2": Collectively, all of the Mortgage Loans that are
Group 2 Mortgage Loans and any successor REO Loans with respect thereto.

            "Loan Group 2 Available Distribution Amount": With respect to any
Distribution Date, that portion, if any, of the Available Distribution Amount
attributable to Loan Group 2.

            "Loan Group 2 Principal Distribution Amount": With respect to any
Distribution Date, that portion, if any, of the Principal Distribution Amount
attributable to Loan Group 2.

            "Loan Pair": Collectively, any Co-Lender Loan and its related
Companion Loan(s).

            "Loan-to-Value Ratio": With respect to any Mortgage Loan, as of any
date of determination, a fraction, expressed as a percentage, the numerator of
which is the then current principal amount of such Mortgage Loan, and the
denominator of which is the Appraised Value of the related Mortgaged Property.

            "Lockout Period": With respect to any Mortgage Note that prohibits
the Mortgagor from prepaying such Mortgage Loan until a date specified in such
Mortgage Note, the period from the Closing Date until such specified date.

            "Majority Subordinate Certificateholder": As of any date of
determination, any single Holder of Certificates (other than any Holder which is
an Affiliate of the Depositor or the Mortgage Loan Seller) entitled to greater
than 50% of the Voting Rights allocated to the Controlling Class; provided,
however, if there is no single Holder of Certificates entitled to greater than
50% of the Voting Rights allocated to such Class, then the Majority Subordinate
Certificateholder shall be the single Holder of Certificates with the largest
percentage of Voting Rights allocated to such Class. With respect to determining
the Majority Subordinate Certificateholder, the Class A-1 Certificates, the
Class A-2 Certificates, the Class A-3 Certificates, the Class A-PB Certificates,
the Class A-4 Certificates and the Class A-1A Certificates shall be deemed to be
a single Class of Certificates, with such Voting Rights allocated among the
Holders of Certificates of such Classes in proportion to the respective
Certificate Principal Balances of such Certificates as of such date of
determination.

            "Master Servicer": Wachovia Bank, National Association, its
successor in interest (including the Trustee as successor pursuant to Section
7.02), or any successor master servicer appointed as herein provided.

            "Master Servicing Fee": With respect to each Mortgage Loan and REO
Loan the fee payable to the Master Servicer pursuant to Section 3.11(a).

            "Master Servicing Fee Rate": With respect to each Mortgage Loan the
percentage set forth under the column "Master Servicing Fee Rate" on the
Mortgage Loan Schedule.

            "Material Core Documents": As defined in Section 2.03.

            "Memorandum": As defined in the Mortgage Loan Purchase Agreement.

            "Money Term": With respect to any Mortgage Loan, the maturity date,
Mortgage Rate, Stated Principal Balance, amortization term or payment frequency
thereof or any provision thereof requiring the payment of a Prepayment Premium
or Yield Maintenance Charge in connection with a Principal Prepayment (but not
any late fees or default interest provisions).

            "Moody's": Moody's Investors Service, Inc., or its successor in
interest. If Moody's nor any successor remains in existence, "Moody's" shall be
deemed to refer to such other nationally recognized statistical rating agency or
other comparable Person designated by the Depositor, notice of which designation
shall be given to the Trustee, the Master Servicer and the Special Servicer, and
specific ratings of Moody's herein referenced shall be deemed to refer to the
equivalent ratings of the party so designated.

            "Mortgage": With respect to any Mortgage Loan, the mortgage, deed of
trust, deed to secure debt or similar instrument that secures the Mortgage Note
and creates a lien on the fee or leasehold interest in the related Mortgaged
Property.

            "Mortgage Deferred Interest": With respect to any Mortgage Loan as
to which the Mortgage Rate has been reduced through a modification and any
Distribution Date, the amount by which (a) interest accrued at such reduced rate
is less than (b) the amount of interest that would have accrued on such Mortgage
Loan at the Mortgage Rate before such reduction, to the extent such amount has
been added to the outstanding principal balance of such Mortgage Loan.

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

            (i) the original executed Mortgage Note including any power of
      attorney related to the execution thereof, together with any and all
      intervening endorsements thereon, endorsed on its face or by allonge
      attached thereto (without recourse, representation or warranty, express or
      implied) to the order of "Wells Fargo Bank, N.A., as trustee for the
      registered holders of Wachovia Bank Commercial Mortgage Trust, Commercial
      Mortgage Pass-Through Certificates, Series 2006-C29", or in blank (or a
      lost note affidavit and indemnity with a copy of such Mortgage Note
      attached thereto);

            (ii) an original or copy of the Mortgage, together with any and all
      intervening assignments thereof, in each case (unless not yet returned by
      the applicable recording office) with evidence of recording indicated
      thereon or certified by the applicable recording office;

            (iii) an original or copy of any related Assignment of Leases (if
      such item is a document separate from the Mortgage), together with any and
      all intervening assignments thereof, in each case (unless not yet returned
      by the applicable recording office) with evidence of recording indicated
      thereon or certified by the applicable recording office;

            (iv) an original executed assignment, in recordable form (except for
      any missing recording information), of (a) the Mortgage, (b) any related
      Assignment of Leases (if such item is a document separate from the
      Mortgage and to the extent not already assigned pursuant to preceding
      clause (a)) and (c) any other recorded document relating to the Mortgage
      Loan otherwise included in the Mortgage File, in favor of "Wells Fargo
      Bank, N.A., as trustee for the registered holders of Wachovia Bank
      Commercial Mortgage Trust, Commercial Mortgage Pass-Through Certificates,
      Series 2006-C29", or in blank;

            (v) an original assignment of all unrecorded documents relating to
      the Mortgage Loan (to the extent not already assigned pursuant to clause
      (iv) above), in favor of "Wells Fargo Bank, N.A., as trustee for the
      registered holders of Wachovia Bank Commercial Mortgage Trust, Commercial
      Mortgage Pass-Through Certificates, Series 2006-C29", or in blank;

            (vi) originals or copies of any modification, consolidation,
      assumption and substitution agreements in those instances where the terms
      or provisions of the Mortgage or Mortgage Note have been consolidated or
      modified or the Mortgage Loan has been assumed or consolidated;

            (vii) the original or a copy of the policy or certificate of
      lender's title insurance or, if such policy has not been issued or
      located, an original or copy of an irrevocable, binding commitment (which
      may be a marked version of the policy that has been executed by an
      authorized representative of the title company, a "pro forma" title
      policy, or an agreement to provide the same pursuant to binding escrow
      instructions executed by an authorized representative of the title
      company) to issue such title insurance policy;

            (viii) any filed copies (bearing evidence of filing) or other
      evidence of filing satisfactory to the Trustee of any prior UCC Financing
      Statements in favor of the originator of such Mortgage Loan or in favor of
      any assignee prior to the Trustee (but only to the extent the Mortgage
      Loan Seller had possession of such UCC Financing Statements prior to the
      Closing Date) and, if there is an effective UCC Financing Statement and
      continuation statement in favor of the Mortgage Loan Seller on record with
      the applicable public office for UCC Financing Statements, an original UCC
      Amendment, in form suitable for filing in favor of "Wells Fargo Bank,
      N.A., as trustee for the registered holders of Wachovia Bank Commercial
      Mortgage Trust, Commercial Mortgage Pass-Through Certificates, Series
      2006-C29, as assignee", or in blank;

            (ix) an original or copy of (A) any Ground Lease, memorandum of
      ground lease and ground lessor estoppel, and (B) any loan guaranty or
      indemnity and (C) any environmental insurance policy;

            (x) any intercreditor agreement relating to permitted debt
      (including, without limitation, mezzanine debt) of the Mortgagor;

            (xi) copies of any loan agreement, escrow agreement or security
      agreement relating to such Mortgage Loan;

            (xii) a copy of any letter of credit and related transfer documents
      relating to such Mortgage Loan;

            (xiii) copies of any management agreements and applicable transfer
      or assignment documents;

            (xiv) copies of any cash management agreements and applicable
      transfer or assignment documents;

            (xv) copies of franchise agreements and franchisor comfort letters,
      if any, for hospitality properties and applicable transfer or assignment
      documents; and

            (xvi) with respect to any Companion Loan, all of the above documents
      with respect to such Companion Loan and the related Intercreditor
      Agreement;

            provided that a copy of each Mortgage Note relating to such
            Companion Loan, rather than the original, shall be provided, and no
            assignments shall be provided;

            provided that whenever the term "Mortgage File" is used to refer to
documents actually received by the Trustee or by a Custodian on its behalf, such
term shall not be deemed to include such documents required to be included
therein unless they are actually so received, and with respect to any receipt or
certification by the Trustee or the Custodian for documents described in clauses
(vi) and (ix) through and including (xv) of this definition, shall be deemed to
include only such documents to the extent the Trustee or Custodian has actual
knowledge of their existence.

            Notwithstanding the foregoing, with respect to the 2006-C28 Serviced
Mortgage Loan, the "Mortgage File" will consist of the original note (or lost
note affidavit, if applicable) specified in clause (i) above, and a photocopy of
each additional document in the Mortgage File held by the 2006-C28 Trustee.

            "Mortgage Loan": Each of the mortgage loans transferred and assigned
to the Trust Fund pursuant to Section 2.01 and listed on the Mortgage Loan
Schedule and from time to time held in the Trust Fund. As used herein, the term
"Mortgage Loan" includes the related Mortgage Note, Mortgage, and other security
documents contained in the related Mortgage File. Unless otherwise indicated, as
used in this Agreement, the term "Mortgage Loan" does not include any Companion
Loan.

            "Mortgage Loan Purchase Agreement": Each of the Wachovia Mortgage
Loan Purchase Agreement and the Artesia Mortgage Loan Purchase Agreement,
individually or collectively, as the context may require.

            "Mortgage Loan Schedule": The list of Mortgage Loans transferred on
the Closing Date to the Trustee as part of REMIC I, attached hereto as Exhibit B
and in a computer readable format. Such list shall set forth the following
information with respect to each Mortgage Loan:

            (i) the Mortgage Loan number;

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

            (iii) the Cut-Off Date Balance;

            (iv) the amount of the Periodic Payment due on the first Due Date
      following the Closing Date;

            (v) the original Mortgage Rate;

            (vi) the (A) original term to stated maturity, (B) remaining term to
      stated maturity and (C) the Stated Maturity Date and, in the case of an
      ARD Loan, the Anticipated Repayment Date;

            (vii) in the case of a Balloon Mortgage Loan, the remaining
      amortization term;

            (viii) the original and remaining amortization term;

            (ix) whether the Mortgage Loan is secured by a Ground Lease;

            (x) the Master Servicing Fee Rate;

            (xi) whether such Mortgage Loan is an ARD Loan and if so the
      Anticipated Repayment Date and Additional Interest Rate for such ARD Loan;

            (xii) the related Mortgage Loan Seller;

            (xiii) whether such Mortgage Loan is insured by an environmental
      policy;

            (xiv) whether such Mortgage Loan is cross-defaulted or
      cross-collateralized with any other Mortgage Loan;

            (xv) whether such Mortgage Loan is a Defeasance Loan;

            (xvi) whether the Mortgage Loan is secured by a letter of credit;

            (xvii) whether such Mortgage Loan is an Interest Reserve Loan;

            (xviii) whether payments on such Mortgage Loan are made to a
      lock-box;

            (xix) the amount of any Reserve Funds escrowed in respect of each
      Mortgage Loan;

            (xx) the number of units or square feet related to the Mortgaged
      Property;

            (xxi) the number of grace days after the Due Date until Periodic
      Payments incur late payment charges; and

            (xxii) the applicable Loan Group to which such Mortgage Loan
      belongs.

            "Mortgage Loan Seller": Each of Wachovia and Artesia, as the context
may require, or their respective successors in interest, individually or
collectively as the context may require.

            "Mortgage Note": The original executed note evidencing the
indebtedness of a Mortgagor under a Mortgage Loan or Companion Loan, together
with any rider, addendum or amendment thereto, or any renewal, substitution or
replacement of such note.

            "Mortgage Pool": Collectively, all of the Mortgage Loans and any
successor REO Loans.

            "Mortgage Rate": With respect to (i) any Mortgage Loan on or prior
to its Stated Maturity Date, the fixed annualized rate, not including any
Additional Interest Rate, at which interest is scheduled (in the absence of a
default) to accrue on such Mortgage Loan from time to time in accordance with
the related Mortgage Note and applicable law; (ii) any Mortgage Loan after its
Stated Maturity Date, the annualized rate described in clause (i) above
determined without regard to the passage of such Stated Maturity Date, but
giving effect to any modification thereof as contemplated by Section 3.20; and
(iii) any REO Loan, the annualized rate described in clause (i) or (ii), as
applicable, above determined as if the predecessor Mortgage Loan had remained
outstanding; provided, however, if any Mortgage Loan does not accrue interest on
the basis of a 360-day year consisting of twelve 30-day months, then, solely for
purposes of calculating the Pass-Through Rates, the Mortgage Rate of such
Mortgage Loan for any one-month period preceding a related Due Date will be the
annualized rate at which interest would have to accrue in respect of such
Mortgage Loan on the basis of a 360-day year consisting of twelve 30-day months
in order to produce the aggregate amount of interest actually accrued (exclusive
of Penalty Interest or Additional Interest) in respect of such Mortgage Loan
during such one-month period at the related Mortgage Rate; provided, however,
solely for the purposes of calculating the Pass-Through Rates, with respect to
each Interest Reserve Loan, the Mortgage Rate for the one-month period (A)
preceding the Due Dates that occur in January and February in any year which is
not a leap year or preceding the Due Date that occurs in February in any year
which is a leap year will be determined exclusive of the Interest Reserve
Amounts for such months (in either case unless such Due Date occurs in a January
or February in which the final Distribution Date occurs), and (B) preceding the
Due Date in March, and in the event the final Distribution Date occurs in
February, preceding the Due Date in such February, will be determined inclusive
of the Interest Reserve Amounts for the immediately preceding February and, if
applicable, January; provided, further, if the Mortgage Rate of the related
Mortgage Loan has been modified in connection with a bankruptcy or similar
proceeding involving the related Mortgagor or a modification, waiver or
amendment granted or agreed to by the Special Servicer pursuant to Section 3.20,
solely for purposes of calculating the Pass-Through Rate, the Mortgage Rate for
such Mortgage Loan shall be calculated without regard to such event.

            "Mortgaged Property": The property subject to the lien of a
Mortgage.

            "Mortgagor": The obligor or obligors on a Mortgage Note, including
without limitation, any Person that has acquired the related Mortgaged Property
and assumed the obligations of the original obligor under the Mortgage Note
and/or, in the case of an indemnity deed of trust, the entity which granted the
lien on such Mortgaged Property.

            "Net Aggregate Prepayment Interest Shortfall": With respect to any
Distribution Date, the amount, if any, by which (a) the aggregate of all
Prepayment Interest Shortfalls incurred in connection with the receipt of
Principal Prepayments on the Mortgage Loans during the related Collection
Period, exceeds (b) the aggregate amount deposited by the Master Servicer in the
Certificate Account for such Distribution Date pursuant to Section 3.19(a) in
connection with such Prepayment Interest Shortfalls on the Mortgage Loans. For
purposes of calculating the Prepayment Interest Shortfall with respect to the
2006-C28 Serviced Mortgage Loan, Prepayment Interest Shortfalls will be
allocated in accordance with the 2006-C28 Pooling and Servicing Agreement and
the related Intercreditor Agreement. The portion of such shortfall allocated to
the 2006-C28 Serviced Mortgage Loan, net of amounts payable to the 2006-C28
Master Servicer, will be included in the Net Aggregate Prepayment Interest
Shortfall. For purposes of calculating the Prepayment Interest Shortfall with
respect to the Centro Syndicate 2 Pool Loan in the event the Centro Syndicate 2
Pool Future Pari Passu Companion Loan is advanced, Prepayment Interest
Shortfalls will be allocated pro rata between the Centro Syndicate 2 Pool Loan
and the Centro Syndicate 2 Pool Future Pari Passu Companion Loan. The portion of
such shortfall allocated to the Centro Syndicate 2 Pool Loan, net of amounts
payable to the Master Servicer, will be included in the Net Aggregate Prepayment
Interest Shortfall. For purposes of calculating the Prepayment Interest
Shortfall with respect to the Centro International Wholesale Pool Loan in the
event the Centro International Wholesale Pool Future Pari Passu Companion Loan
is advanced, Prepayment Interest Shortfalls will be allocated pro rata between
the Centro International Wholesale Pool Loan and the Centro International
Wholesale Pool Future Pari Passu Companion Loan. The portion of such shortfall
allocated to the Centro International Wholesale Pool Loan, net of amounts
payable to the Master Servicer, will be included in the Net Aggregate Prepayment
Interest Shortfall. For purposes of calculating the Prepayment Interest
Shortfall with respect to the Co-Lender Loans (other than the Centro Syndicate 2
Pool Loan, if applicable, the Centro International Wholesale Loan, if
applicable, and the 2006-C28 Serviced Mortgage Loan), Prepayment Interest
Shortfalls will be allocated, first, to the promissory note evidencing the
related Subordinate Companion Loans, if any, and second, to the promissory note
evidencing the related Co-Lender Loan. The portion of such shortfall allocated
to the Co-Lender Loans (other than the Centro Syndicate 2 Pool Loan, if
applicable, the Centro International Wholesale Loan, if applicable, and the
2006-C28 Serviced Mortgage Loan), net of amounts payable to the Master Servicer,
will be included in the Net Aggregate Prepayment Interest Shortfall.

            "Net Investment Earnings": With respect to (i) the Certificate
Account, any Servicing Account, any Special Reserve Account, any Reserve Account
or the REO Account (if any) for any Collection Period and (ii) the Distribution
Account, the Interest Reserve Account, the Additional Interest Account and the
Companion Distribution Account (if any) for the related Distribution Date, the
amount, if any, by which the aggregate of all interest and other income realized
during such Collection Period with respect to the accounts described in clause
(i) above and as of such related Distribution Date with respect to the accounts
described in clause (ii) above on funds held in such accounts, exceeds the
aggregate of all losses, if any, incurred during such Collection Period with
respect to the accounts described in clause (i) above and as of such related
Distribution Date with respect to the accounts described in clause (ii) above in
connection with the investment of such funds in accordance with Section 3.06.

            "Net Investment Loss": With respect to (i) the Certificate Account,
any Servicing Account, any Special Reserve Account, any Reserve Account or the
REO Account (if any) for any Collection Period and (ii) the Distribution
Account, the Interest Reserve Account, the Additional Interest Account and the
Companion Distribution Account (if any) for the related Distribution Date, the
amount by which the aggregate of all losses, if any, incurred during such
Collection Period with respect to the accounts described in clause (i) above and
as of such related Distribution Date with respect to the accounts described in
clause (ii) above in connection with the investment of funds held in such
accounts in accordance with Section 3.06, exceeds the aggregate of all interest
and other income realized during such Collection Period with respect to the
accounts described in clause (i) above and as of such related Distribution Date
with respect to the accounts described in clause (ii) above on such funds.

            "Net Mortgage Rate": With respect to any Mortgage Loan or any REO
Loan, as of any date of determination, a rate per annum equal to the related
Mortgage Rate minus the sum of the Trustee Fee Rate and the applicable Master
Servicing Fee Rate.

            "Net Operating Income" or "NOI": As defined in and determined in
accordance with the provisions of Exhibit E attached hereto.

            "New Lease": Any lease of REO Property (other than with respect to
the 2006-C28 Serviced Mortgage Loan under the 2006-C28 Pooling and Servicing
Agreement) entered into at the direction of the Special Servicer on behalf of
REMIC I, including any lease renewed, modified or extended on behalf of such
REMIC if the Special Servicer has the right to renegotiate the terms of such
lease.

            "Newport Bluffs Future Pari Passu Companion Loan": That certain
additional future mortgage loan, which is not an asset of the Trust Fund,
secured by the Mortgaged Property securing the Newport Bluffs Loan and the
Newport Bluffs Pari Passu Companion Loan, which will be pari passu in right of
entitlement with the Newport Bluffs Loan and the Newport Bluffs Pari Passu
Companion Loan.

            "Newport Bluffs Loan": That certain Mortgage Loan which is included
in the Trust Fund (identified as loan number 6 on the Mortgage Loan Schedule).

            "Newport Bluffs Pari Passu Companion Loan": That certain mortgage
loan evidenced by a note, which is not an asset of the Trust Fund, secured by
the Mortgaged Property securing the Newport Bluffs Loan and pari passu in right
of entitlement with the Newport Bluffs Loan.

            "Newport Bluffs Pari Passu Intercreditor Agreement": The
Intercreditor and Servicing Agreement, dated as of October 5, 2006, by and
between Wachovia Bank, National Association, as Lead Lender, and Wachovia Bank,
National Association, as Co-Lender relating to the Newport Bluffs Whole Loan.

            "Newport Bluffs Whole Loan": The Newport Bluffs Loan, together with
the Newport Bluffs Pari Passu Companion Loan.

            "Nonrecoverable Advance": Any Nonrecoverable P&I Advance or
Nonrecoverable Servicing Advance; provided that Workout-Delayed Reimbursement
Amounts shall constitute a Nonrecoverable Advance only when the Person making
such determination in accordance with the procedures specified in the definition
of Nonrecoverable P&I Advance or Nonrecoverable Servicing Advance, as
applicable, and taking into account factors such as all other outstanding
Advances, either (a) has determined in accordance with the Servicing Standard or
the standards applicable to the Trustee as set forth in the definitions of
"Nonrecoverable P&I Advance" and "Nonrecoverable Servicing Advance" that such
Workout-Delayed Reimbursement Amounts would not ultimately be recoverable from
Late Collections, Insurance Proceeds or Liquidation Proceeds, or any other
recovery on or in respect of the related Mortgage Loan or REO Loan or (b) has
determined in accordance with the Servicing Standard or such other applicable
standard that such Workout-Delayed Reimbursement Amounts, along with any other
Workout-Delayed Reimbursement Amounts and Nonrecoverable Advances, would not
ultimately be recoverable from the portion of Late Collections, Insurance
Proceeds or Liquidation Proceeds in respect of the pool of the Mortgage Loans or
REO Loans allocable to principal, or any other recovery on or in respect of the
pool of Mortgage Loans or REO Loans allocable to principal.

            "Nonrecoverable P&I Advance": Any P&I Advance previously made or
proposed to be made in respect of any Mortgage Loan, any Pari Passu Companion
Loan (other than the Newport Bluffs Pari Passu Companion Loan) or any REO Loan
by the Master Servicer or the Trustee, as the case may be (or, in the case of
the 2006-C28 Serviced Mortgage Loan, previously made or proposed to be made by
the 2006-C28 Master Servicer), that, as determined by the Master Servicer, the
Special Servicer, the Trustee or the 2006-C28 Master Servicer, as applicable, in
accordance with the Servicing Standard (in the case of the Master Servicer or
the Special Servicer), the "Servicing Standard" as defined in the 2006-C28
Pooling and Servicing Agreement (in the case of the 2006-C28 Master Servicer or
the 2006-C28 Special Servicer) or the standard of care set forth in Section
8.01(a) (with respect to the Trustee), as applicable, with respect to such P&I
Advance will not be ultimately recoverable from Late Collections, Insurance
Proceeds or Liquidation Proceeds, or any other recovery on or in respect of such
Mortgage Loan, Pari Passu Companion Loan, REO Loan or 2006-C28 Serviced Mortgage
Loan; provided that the Master Servicer will be permitted to conclusively rely
upon any such nonrecoverability determination made by the Special Servicer and,
with respect to the 2006-C28 Serviced Mortgage Loan, the 2006-C28 Master
Servicer or the 2006-C28 Special Servicer.

            "Nonrecoverable Servicing Advance": Any Servicing Advance previously
made or proposed to be made in respect of a Mortgage Loan, REO Loan or Companion
Loan by the Master Servicer, the Special Servicer or the Trustee, as the case
may be (or, in the case of the 2006-C28 Serviced Mortgage Loan, made by the
2006-C28 Master Servicer), that, as determined by the Master Servicer, the
Special Servicer, the Trustee or the 2006-C28 Master Servicer, as applicable, in
accordance with the Servicing Standard (in the case of the Master Servicer or
the Special Servicer), the "Servicing Standard" as defined in the 2006-C28
Pooling and Servicing Agreement (in the case of the 2006-C28 Master Servicer),
the standard of care set forth in Section 8.01(a) (with respect to the Trustee),
as applicable, will not be ultimately recoverable from Late Collections,
Insurance Proceeds, Liquidation Proceeds, or any other recovery on or in respect
of such Mortgage Loan, Companion Loan, REO Property or 2006-C28 Serviced
Mortgage Loan, as applicable; provided that the Master Servicer will be
permitted to conclusively rely upon any such nonrecoverability determination
made by the Special Servicer.

            "Non-Registered Certificate": Unless and until registered under the
Securities Act, any Class F, Class G, Class H, Class J, Class K, Class L, Class
M, Class N, Class O, Class P, Class Q, Class Z, Class R-I or Class R-II
Certificate.

            "Non-Serviced Companion Loans": The Newport Bluffs Pari Passu
Companion Loan and the Newport Bluffs Future Pari Passu Companion Loan, if
advanced.

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

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

            "Opinion of Counsel": A written opinion of counsel (which counsel
may be a salaried counsel for the Depositor, the Master Servicer or the Special
Servicer) acceptable to and delivered to the Trustee or the Master Servicer, as
the case may be, except that any opinion of counsel relating to (a) the
qualification of REMIC I or REMIC II as a REMIC; (b) the qualification of the
Additional Interest Grantor Trust as a grantor trust; (c) compliance with the
REMIC Provisions or the Grantor Trust Provisions or (d) the resignation of the
Master Servicer or the Special Servicer pursuant to Section 6.04 must be an
opinion of counsel who is in fact Independent of the Master Servicer, the
Special Servicer or the Depositor, as applicable.

            "Option Price": As defined in Section 3.18(c).

            "Original Class Principal Balance": With respect to any Class of
Sequential Pay Certificates, the Original Class Principal Balance thereof as of
the Closing Date, in each case as specified in the Preliminary Statement.

            "Original Class IO Notional Amount": $3,371,274,173.

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

            "Ownership Interest": As to any Certificate, any ownership or
security interest in such Certificate as the Holder thereof and any other
interest therein, whether direct or indirect, legal or beneficial, as owner or
as pledgee.

            "P&I Advance": As to any Mortgage Loan or REO Loan, any advance made
by the Master Servicer or the Trustee pursuant to Section 4.03(a) and (b), as
applicable.

            "P&I Advance Date": The Business Day immediately preceding each
Distribution Date.

            "Pari Passu Companion Loans": The Newport Bluffs Pari Passu
Companion Loan and, to the extent advanced, the Newport Bluffs Future Pari Passu
Companion Loan, the Centro Syndicate 2 Pool Future Pari Passu Companion Loan and
the Centro International Wholesale Pool Future Pari Passu Companion Loan.

            "Pari Passu Mortgage Loans": The Centro Syndicate 2 Pool Loan, the
Centro International Wholesale Pool Loan and the Newport Bluffs Loan.

            "Pass-Through Rate": With respect to:

            (i) the Class A-1 Certificates for any Distribution Date, 5.110% per
      annum;

            (ii) the Class A-2 Certificates for any Distribution Date, 5.275%
      per annum;

            (iii) the Class A-3 Certificates for any Distribution Date, 5.313%
      per annum;

            (iv) the Class A-PB Certificates for any Distribution Date, 5.296%
      per annum;

            (v) the Class A-4 Certificates for any Distribution Date, 5.308% per
      annum;

            (vi) the Class A-1A Certificates for any Distribution Date, the
      lesser of (1) 5.297% per annum and (2) the Weighted Average Net Mortgage
      Rate for such date;

            (vii) the Class IO Certificates for the initial Distribution Date,
      0.372% per annum, and for any subsequent Distribution Date, the weighted
      average of the Class IO Strip Rates for the respective Class IO Components
      for such Distribution Date (weighted on the basis of the respective
      Component Notional Amounts of such Components outstanding immediately
      prior to such Distribution Date);

            (viii) the Class A-M Certificates for any Distribution Date, 5.339%
      per annum;

            (ix) the Class A-J Certificates for any Distribution Date, the
      lesser of (1) 5.368% per annum and (2) the Weighted Average Net Mortgage
      Rate for such date;

            (x) the Class B Certificates for any Distribution Date, the lesser
      of (1) 5.426% per annum and (2) the Weighted Average Net Mortgage Rate for
      such date;

            (xi) the Class C Certificates for any Distribution Date, the lesser
      of (1) 5.438% per annum and (2) the Weighted Average Net Mortgage Rate for
      such date;

            (xii) the Class D Certificates for any Distribution Date, the lesser
      of (1) 5.475% per annum and (2) the Weighted Average Net Mortgage Rate for
      such date;

            (xiii) the Class E Certificates for any Distribution Date, the
      lesser of (1) 5.516% per annum and (2) the Weighted Average Net Mortgage
      Rate for such date;

            (xiv) the Class F Certificates for any Distribution Date, the lesser
      of (1) 5.566% per annum and (2) the Weighted Average Net Mortgage Rate for
      such date;

            (xv) the Class G Certificates for any Distribution Date, the
      Weighted Average Net Mortgage Rate for such date minus 0.075%;

            (xvi) the Class H Certificates for any Distribution Date, the
      Weighted Average Net Mortgage Rate for such date;

            (xvii) the Class J Certificates for any Distribution Date, the
      Weighted Average Net Mortgage Rate for such date;

            (xviii) the Class K Certificates for any Distribution Date, the
      lesser of (1) 5.069% per annum and (2) the Weighted Average Net Mortgage
      Rate for such date;

            (xix) the Class L Certificates for any Distribution Date, the lesser
      of (1) 5.069% per annum and (2) the Weighted Average Net Mortgage Rate for
      such date;

            (xx) the Class M Certificates for any Distribution Date, the lesser
      of (1) 5.069% per annum and (2) the Weighted Average Net Mortgage Rate for
      such date;

            (xxi) the Class N Certificates for any Distribution Date, the lesser
      of (1) 5.069% per annum and (2) the Weighted Average Net Mortgage Rate for
      such date;

            (xxii) the Class O Certificates for any Distribution Date, the
      lesser of (1) 5.069% per annum and (2) the Weighted Average Net Mortgage
      Rate for such date;

            (xxiii) the Class P Certificates for any Distribution Date, the
      lesser of (1) 5.069% per annum and (2) the Weighted Average Net Mortgage
      Rate for such date; and

            (xxiv) the Class Q Certificates for any Distribution Date, the
      lesser of (1) 5.069% per annum and (2) the Weighted Average Net Mortgage
      Rate for such date.

            "Paying Agent": The paying agent appointed pursuant to Section 8.16.
If no such paying agent has been appointed or if such paying agent has been so
appointed but the Trustee has terminated such appointment, then the Trustee
shall be the Paying Agent.

            "Penalty Interest": With respect to any Mortgage Loan or Companion
Loan (or successor REO Loan), any amounts collected thereon, other than late
payment charges, Additional Interest, Prepayment Premiums or Yield Maintenance
Charges, that represent penalty interest (arising out of a default) in excess of
interest on the Stated Principal Balance of such Mortgage Loan or Companion Loan
(or successor REO Loan) accrued at the related Mortgage Rate.

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

            "Periodic Payment": With respect to any Mortgage Loan or Companion
Loan as of any Due Date, the scheduled payment of principal and/or interest on
such Mortgage Loan or Companion Loan (exclusive of Additional Interest),
including any Balloon Payment, that is actually payable by the related Mortgagor
from time to time under the terms of the related Mortgage Note (as such terms
may be changed or modified in connection with a bankruptcy or similar proceeding
involving the related Mortgagor or by reason of a modification, waiver or
amendment granted or agreed to by the Special Servicer pursuant to Section
3.20).

            "Permitted Investments": Any one or more of the following
obligations or securities (including obligations or securities of the Trustee if
otherwise qualifying hereunder):

            (i) direct obligations of, or obligations fully guaranteed as to
      timely payment of principal and interest by, the United States of America
      or any agency or instrumentality thereof (having original maturities of
      not more than 365 days); provided such obligations are backed by the full
      faith and credit of the United States of America. Such obligations must be
      limited to those instruments that have a predetermined fixed dollar amount
      of principal due at maturity that cannot vary or change or be liquidated
      prior to maturity. Interest may either be fixed or variable. If such
      interest is variable, interest must be tied to a single interest rate
      index plus a single fixed spread (if any), and move proportionately with
      that index;

            (ii) repurchase obligations with respect to any security described
      in clause (i) above (having original maturities of not more than 365
      days); provided that the short-term deposit or debt obligations, of the
      party agreeing to repurchase such obligations are rated in the highest
      rating categories of each of S&P, Moody's and Fitch or such lower rating
      as will not result in qualification, downgrading or withdrawal of the
      ratings then assigned to the Certificates, as evidenced in writing by the
      Rating Agencies. In addition, its terms must have a predetermined fixed
      dollar amount of principal due at maturity that cannot vary or change.
      Interest may either be fixed or variable. If such interest is variable,
      interest must be tied to a single interest rate index plus a single fixed
      spread (if any), and move proportionately with that index;

            (iii) certificates of deposit, time deposits, demand deposits and
      bankers' acceptances of any bank or trust company organized under the laws
      of the United States of America or any state thereof (having original
      maturities of not more than 365 days), the short term obligations of which
      are rated in the highest rating categories of each of S&P, Moody's and
      Fitch or such lower rating as will not result in qualification,
      downgrading or withdrawal of the ratings then assigned to the
      Certificates, as evidenced in writing by the Rating Agencies. In addition,
      its terms should have a predetermined fixed dollar amount of principal due
      at maturity that cannot vary or change. In addition, its terms must have a
      predetermined fixed dollar amount of principal due at maturity that cannot
      vary or change. Interest may either be fixed or variable. If such interest
      is variable, interest must be tied to a single interest rate index plus a
      single fixed spread (if any), and move proportionately with that index;

            (iv) commercial paper (having original maturities of not more than
      365 days) of any corporation incorporated under the laws of the United
      States of America or any state thereof (or if not so incorporated, the
      commercial paper is United States Dollar denominated and amounts payable
      thereunder are not subject to any withholding imposed by any non-United
      States jurisdiction) which is rated in the highest rating category of each
      of S&P, Moody's and Fitch or such lower rating as will not result in
      qualification, downgrading or withdrawal of the ratings then assigned to
      the Certificates, as evidenced in writing by the Rating Agencies. The
      commercial paper by its terms must have a predetermined fixed dollar
      amount of principal due at maturity that cannot vary or change. Interest
      may either be fixed or variable. If such interest is variable, interest
      must be tied to a single interest rate index plus a single fixed spread
      (if any), and move proportionately with that index;

            (v) units of money market funds that maintain a constant asset value
      and which, if rated, are rated in the highest applicable rating category
      by Moody's and Fitch and which are rated "AAAm" or "AAAm G" by S&P (or
      such lower rating as will not result in qualification, downgrading or
      withdrawal of the ratings then assigned to the Certificates, as evidenced
      in writing by the Rating Agencies) and which seeks to maintain a constant
      net asset value. In addition, its terms must have a predetermined fixed
      dollar amount of principal due at maturity that cannot vary or change; and

            (vi) any other obligation or security that constitutes a "cash flow
      investment" within the meaning of Section 860G(a)(6) of the Code and is
      acceptable to each Rating Agency, evidence of which acceptability shall be
      provided in writing by each Rating Agency to the Master Servicer, the
      Special Servicer and the Trustee; provided, however, in no event shall
      such other obligation or security be rated less than "AA+/F1", "AA/A-1" or
      "Aa3/P+" by Fitch, S&P or Moody's, respectively;

            provided that (1) no investment described hereunder shall evidence
either the right to receive (x) only interest with respect to such investment or
(y) a yield to maturity greater than 120% of the yield to maturity at par of the
underlying obligations; and (2) no investment described hereunder may be
purchased at a price greater than par if such investment may be prepaid or
called at a price less than its purchase price prior to stated maturity.

            "Permitted Transferee": Any Transferee of a Residual Certificate
other than a (i) Disqualified Organization, (ii) a Plan, (iii) a Disqualified
Non-United States Person, (iv) a United States Person treated as a partnership
for federal income tax purposes, any partner of which, directly or indirectly
(except through a U.S. corporation), is (or is permitted under the related
partnership agreement to be) a Disqualified Non-United States Person, or (v) a
United States Person with respect to whom income on the Residual Certificate is
allocable to a foreign permanent establishment or fixed base, within the meaning
of an applicable income tax treaty, of such Person or any other United States
Person.

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

            "Plan": As defined in Section 5.02(c).

            "Plurality Residual Certificateholder": As to any taxable year of
(i) REMIC I or (ii) REMIC II, the Holder of Certificates holding the largest
Percentage Interest of the related Class of Residual Certificates.

            "Preliminary Memorandum": As defined in the Mortgage Loan Purchase
Agreement.

            "Preliminary Prospectus Supplement": As defined in the Mortgage Loan
Purchase Agreement.

            "Prepayment Assumption": For purposes of determining the accrual of
original issue discount, market discount and premium, if any, on the
Certificates for federal income tax purposes, 0% CPR (within the meaning of the
Prospectus), except that it is assumed that each ARD Loan is repaid on its
Anticipated Repayment Date.

            "Prepayment Interest Excess": With respect to any Mortgage Loan that
was subject to a Principal Prepayment in full or in part during any Collection
Period, which Principal Prepayment was applied to such Mortgage Loan following
such Mortgage Loan's Due Date in such Collection Period, the amount of interest
(net of the related Master Servicing Fee and, if applicable, the Additional
Interest) accrued on the amount of such Principal Prepayment during the period
from and after such Due Date and ending on the date such Principal Prepayment
was applied to such Mortgage Loan, to the extent collected (exclusive of any
related Prepayment Premium or Yield Maintenance Charge actually collected).

            "Prepayment Interest Shortfall": With respect to any Mortgage Loan
that was subject to a Principal Prepayment in full or in part during any
Collection Period, which Principal Prepayment was applied to such Mortgage Loan
prior to such Mortgage Loan's Due Date in such Collection Period, the amount of
interest, to the extent not collected from the related Mortgagor (without regard
to any Prepayment Premium or Yield Maintenance Charge actually collected), that
would have accrued at a rate per annum equal to the sum of (x) the related Net
Mortgage Rate for such Mortgage Loan and (y) the Trustee Fee Rate on the amount
of such Principal Prepayment during the period commencing on the date as of
which such Principal Prepayment was applied to such Mortgage Loan and ending on
the day immediately preceding such Due Date, inclusive.

            "Prepayment Premium": Any premium, penalty or fee (other than a
Yield Maintenance Charge) paid or payable, as the context requires, by a
Mortgagor in connection with a Principal Prepayment.

            "Primary Collateral": With respect to any Crossed Loan, that portion
of the Mortgaged Property designated as directly securing such Crossed Loan and
excluding any Mortgaged Property as to which the related lien may only be
foreclosed upon by exercise of the cross-collateralization provisions of such
Crossed Loan.

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

            "Principal Distribution Amount": With respect to any Distribution
Date, the aggregate of the following:

            (a) the aggregate of the principal portions of all Scheduled
      Payments (other than Balloon Payments) and any Assumed Scheduled Payments
      due or deemed due in respect of the Mortgage Loans for their respective
      Due Dates occurring during the related Collection Period, to the extent
      not previously received or advanced with respect to a Distribution Date
      prior to the related Collection Period;

            (b) the aggregate of all Principal Prepayments received on the
      Mortgage Loans during the related Collection Period;

            (c) with respect to any Mortgage Loan as to which the related Stated
      Maturity Date occurred during or prior to the related Collection Period,
      any payment of principal (other than a Principal Prepayment) made by or on
      behalf of the related Mortgagor during the related Collection Period
      (including any Balloon Payment), in each case net of any portion of such
      payment that represents a recovery of the principal portion of any
      Scheduled Payment (other than a Balloon Payment) due, or the principal
      portion of any Assumed Scheduled Payment deemed due, in respect of such
      Mortgage Loan on a Due Date during or prior to the related Collection
      Period and not previously recovered;

            (d) the aggregate of the principal portion of all Liquidation
      Proceeds, Insurance Proceeds and, to the extent not otherwise included in
      clause (a), (b) or (c) above, payments that were received on the related
      Mortgage Loans during the related Collection Period and that were
      identified and applied by the Master Servicer and/or Special Servicer as
      recoveries of principal of such Mortgage Loans, in each case net of any
      portion of such amounts that represents a recovery of the principal
      portion of any Scheduled Payment (other than a Balloon Payment) due, or of
      the principal portion of any Assumed Scheduled Payment deemed due, in
      respect of the related Mortgage Loan on a Due Date during or prior to the
      related Collection Period and not previously recovered;

            (e) with respect to any REO Properties, the aggregate of the
      principal portions of all Assumed Scheduled Payments deemed due in respect
      of the related REO Loans for their respective Due Dates occurring during
      the related Collection Period;

            (f) with respect to any REO Properties, the aggregate of all
      Liquidation Proceeds, Insurance Proceeds and REO Revenues that were
      received during the related Collection Period on such REO Properties and
      that were identified and applied by the Master Servicer and/or Special
      Servicer as recoveries of principal of the related REO Loans, in each case
      net of any portion of such amounts that represents a recovery of the
      principal portion of any Scheduled Payment (other than a Balloon Payment)
      due, or of the principal portion of any Assumed Scheduled Payment deemed
      due, in respect of the related REO Loan or the predecessor Mortgage Loan
      on a Due Date during or prior to the related Collection Period and not
      previously recovered;

            (g) if such Distribution Date is subsequent to the initial
      Distribution Date, the excess, if any, of the Principal Distribution
      Amount for the immediately preceding Distribution Date, over the aggregate
      distributions of principal made on the Sequential Pay Certificates on such
      immediately preceding Distribution Date pursuant to Section 4.01;

            (h) any amounts that were used to reimburse Nonrecoverable Advances
      (including interest on such Nonrecoverable Advances) from principal
      collections on the Mortgage Loans pursuant to Section 3.05(a) hereof which
      are subsequently recovered on the related Mortgage Loan with respect to
      the Distribution Date related to the period in which such recovery occurs;

            (i) any amounts that were used to reimburse Workout-Delayed
      Reimbursement Amounts (including interest on such Workout-Delayed
      Reimbursement Amounts) from principal collections on the Mortgage Loans
      pursuant to Section 3.05(a) hereof which are subsequently recovered on the
      related Mortgage Loan with respect to the Distribution Date related to the
      period in which such recovery occurs; less

            (j) the amount of any reimbursements of (i) Nonrecoverable Advances
      (including interest on such Nonrecoverable Advances) that are paid or
      reimbursed from principal collections on the Mortgage Loans pursuant to
      Section 3.05(a) hereof with respect to such Distribution Date and (ii)
      Workout-Delayed Reimbursement Amounts (including interest on such
      Workout-Delayed Reimbursement Amounts) that are paid or reimbursed from
      principal collections on the Mortgage Loans pursuant to Section 3.05(a)
      hereof with respect to such Distribution Date, in each case where such
      principal collections would have otherwise been included in the Principal
      Distribution Amount for such Distribution Date.

            "Principal Prepayment": Any payment of principal made by the
Mortgagor on a Mortgage Loan or Companion Loan that is received in advance of
its scheduled Due Date; provided that it shall not include a payment of
principal that is accompanied by an amount of interest representing scheduled
interest due on any date or dates in any month or months subsequent to the month
of prepayment.

            "Privileged Person": Any Certificateholder, Certificate Owner, any
Person identified to the Trustee or the Master Servicer, as applicable, as a
prospective transferee of a Certificate or interest therein, any Rating Agency,
any Mortgage Loan Seller, any Companion Holders, any party hereto, any
Underwriter or any designee of the Depositor; provided that no Certificate Owner
or prospective transferee of a Certificate or interest therein shall be
considered a "Privileged Person" or be entitled to a password or restricted
access as contemplated by Section 3.15 or Section 4.02 unless such Person has
delivered to the Trustee or the Master Servicer, as applicable, a certification
in the form of Exhibit K-1 or Exhibit K-2, as applicable which certification is
available on the Trustee's Internet Website.

            "Prohibited Party": Any party, in the case of the Master Servicer,
the Special Servicer or the Trustee, that is listed on the Depositor's Do Not
Hire List.

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

            "Prospectus": The prospectus dated October 19, 2006, as supplemented
by the Prospectus Supplement, relating to the Registered Certificates.

            "Prospectus Supplement": The final prospectus supplement, dated
December 13, 2006 of the Depositor relating to the registration of the
Registered Certificates under the Securities Act.

            "PTE 95-60": As defined in Section 5.02(c).

            "Purchase Option": As defined in Section 3.18(c).

            "Purchase Option Notice": As defined in Section 3.18(e).

            "Purchase Price": With respect to any Mortgage Loan or REO Loan to
be purchased by a Mortgage Loan Seller pursuant to the applicable Mortgage Loan
Purchase Agreement, by the Majority Subordinate Certificateholder, the Companion
Holder or the Special Servicer as described in Section 3.18(c), 3.18(d) or
3.18(e), or by the Depositor, the Special Servicer, the Majority Subordinate
Certificateholder or the Master Servicer pursuant to Section 9.01, a cash price
equal to the outstanding principal balance of such Mortgage Loan or REO Loan, as
of the date of purchase, together with (a) all accrued and unpaid interest on
such Mortgage Loan or REO Loan at the related Mortgage Rate to but not including
the Due Date in the Collection Period of purchase plus any accrued interest on
P&I Advances made with respect to such Mortgage Loan, (b) all related and
unreimbursed Servicing Advances plus any accrued and unpaid interest thereon,
(c) any reasonable costs and expenses, including, but not limited to, the cost
of any enforcement action, incurred by the Master Servicer, the Special Servicer
or the Trust Fund in connection with any such purchase by a Mortgage Loan Seller
(to the extent not included in clause (b) above) and (d) any other Additional
Trust Fund Expenses in respect of such Mortgage Loan (including any Additional
Trust Fund Expenses previously reimbursed or paid by the Trust Fund but not so
reimbursed by the related Mortgagor or other party or from Insurance Proceeds or
condemnation proceeds or any other collections in respect of the Mortgage Loan
or the related Mortgaged Property from a source other than the Trust Fund), or
in the case of any Loan Pair, the purchase price specified in the related
Intercreditor Agreement; provided that the Purchase Price shall not be reduced
by any outstanding P&I Advance.

            "Qualified Bidder": As defined in Section 7.01(c).

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

            "Qualified Insurer": An insurance company or security or bonding
company qualified to write the related Insurance Policy in the relevant
jurisdiction (i) with a minimum insurance financial strength or claims paying
ability rating of at least "A" by S&P, "A" by Fitch and "A3" by Moody's (or the
obligations of which are guaranteed or backed by a company having such a claims
paying ability), and (ii) with respect to the fidelity bond and errors and
omissions Insurance Policy required to be maintained pursuant to Section
3.07(c), an insurance company that has a claims paying ability rated no lower
than two rating categories (without regard to pluses or minuses or numerical
qualifications) below the rating assigned to the then highest rated outstanding
Certificate (or, for purposes of general liability insurance only at least "A"
by two nationally recognized statistical rating organizations (which must
include S&P)), but in no event lower than "A" by S&P, "A" by Fitch or "A3" by
Moody's (or, if not rated by Moody's, then at least "A" by two other nationally
recognized statistical rating organizations (which may include S&P or Fitch)),
or, in the case of clauses (i) and (ii), such other rating as each Rating Agency
shall have confirmed in writing will not cause such Rating Agency to downgrade,
qualify or withdraw the then-current rating assigned to any of the Certificates
that are then currently being rated by such Rating Agency.

            "Qualified Substitute Mortgage Loan": A mortgage loan which must, on
the date of substitution: (i) have an outstanding Stated Principal Balance,
after application of all scheduled payments of principal and interest due during
or prior to the month of substitution, not in excess of the Stated Principal
Balance of the deleted Mortgage Loan as of the Due Date in the calendar month
during which the substitution occurs; (ii) have a Mortgage Rate not less than
the Mortgage Rate of the deleted Mortgage Loan; (iii) have the same Due Date as
the deleted Mortgage Loan; (iv) accrue interest on the same basis as the deleted
Mortgage Loan (for example, on the basis of a 360-day year consisting of twelve
30-day months); (v) have a remaining term to stated maturity not greater than,
and not more than two years less than, the remaining term to stated maturity of
the deleted Mortgage Loan; (vi) have an original Loan-to-Value Ratio not higher
than that of the deleted Mortgage Loan and a current Loan-to-Value Ratio not
higher than the then current Loan-to-Value Ratio of the deleted Mortgage Loan;
(vii) comply as of the date of substitution with all of the representations and
warranties set forth in the applicable Mortgage Loan Purchase Agreement; (viii)
have an Environmental Assessment that indicates no adverse environmental
conditions with respect to the related Mortgaged Property and which will be
delivered as a part of the related Servicing File; (ix) have an original Debt
Service Coverage Ratio (calculated to include the additional debt from any
encumbrance) of not less than the original Debt Service Coverage Ratio
(calculated to include the additional debt from any encumbrance) of the deleted
Mortgage Loan and a current Debt Service Coverage Ratio (calculated to include
the additional debt from any encumbrance) of not less than the current Debt
Service Coverage Ratio (calculated to include the additional debt from any
encumbrance) of the deleted Mortgage Loan; (x) be determined by an Opinion of
Counsel (at the applicable Mortgage Loan Seller's expense) to be a "qualified
replacement mortgage" within the meaning of Section 860G(a)(4) of the Code; (xi)
not have a maturity date after the date two years prior to the Rated Final
Distribution Date; (xii) not be substituted for a deleted Mortgage Loan unless
the Trustee has received prior confirmation in writing by each Rating Agency
that such substitution will not result in the withdrawal, downgrade, or
qualification of the rating assigned by the Rating Agency to any Class of
Certificates then rated by the Rating Agency (the cost, if any, of obtaining
such confirmation to be paid by the Mortgage Loan Seller); (xiii) have a date of
origination that is not more than 12 months prior to the date of substitution;
(xiv) have been approved by the Controlling Class Representative (or, if there
is no Controlling Class Representative then serving, by the Holders of
Certificates representing a majority of the Voting Rights allocated to the
Controlling Class); (xv) not be substituted for a deleted Mortgage Loan if it
would result in the termination of the REMIC status of REMIC I or REMIC II or
the imposition of tax on either of such REMICs other than a tax on income
expressly permitted or contemplated to be imposed by the terms of this
Agreement, as determined by an Opinion of Counsel (at the applicable Mortgage
Loan Seller's expense); and (xvi) become a part of the same Loan Group as the
deleted Mortgage Loan. In the event that one or more mortgage loans are
substituted for one or more deleted Mortgage Loans, then the amounts described
in clause (i) shall be determined on the basis of aggregate principal balances
and the rates described in clause (ii) above and the remaining term to stated
maturity referred to in clause (v) above shall be determined on a weighted
average basis; provided that no individual Mortgage Loan shall have a Net
Mortgage Rate that is less than the highest Pass-Through Rate of any Class of
Sequential Pay Certificates bearing a fixed rate. When a Qualified Substitute
Mortgage Loan is substituted for a deleted Mortgage Loan, the applicable
Mortgage Loan Seller shall certify that the Mortgage Loan meets all of the
requirements of the above definition and shall send such certification to the
Trustee. No substitutions will be permitted for the 2006-C28 Serviced Mortgage
Loan.

            "Rated Final Distribution Date": The Distribution Date in November
2048, the first Distribution Date after the 24th month following the end of the
amortization term for the Mortgage Loan that, as of the Cut-Off Date, has the
longest remaining amortization term (without regard to the related Stated
Maturity Date).

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

            "Realized Loss": With respect to: (1) each Defaulted Mortgage Loan
as to which a Final Recovery Determination has been made, or with respect to any
successor REO Loan as to which a Final Recovery Determination has been made as
to the related REO Property, an amount (not less than zero) equal to (a) the
unpaid principal balance of such Mortgage Loan or REO Loan, as the case may be,
as of the commencement of the Collection Period in which the Final Recovery
Determination was made, plus (b) without taking into account the amount
described in subclause (1)(d) of this definition, all accrued but unpaid
interest on such Mortgage Loan or such REO Loan, as the case may be, at the
related Mortgage Rate to but not including the Due Date in the Collection Period
in which the Final Recovery Determination was made (exclusive of any portion
thereof that constitutes default interest in excess of the Mortgage Rate,
Additional Interest, Prepayment Premiums or Yield Maintenance Charges), plus (c)
any related unreimbursed Servicing Advances and any unreimbursed interest on any
Advances as of the commencement of the Collection Period in which the Final
Recovery Determination was made, together with any new related Servicing
Advances made during such Collection Period, minus (d) all payments and
proceeds, if any, received in respect of such Mortgage Loan or the REO Property
that relates to such REO Loan, as the case may be, during the Collection Period
in which such Final Recovery Determination was made; (2) each defaulted Mortgage
Loan as to which any portion of the principal or previously accrued interest
(other than Additional Interest and Penalty Interest) payable thereunder was
canceled in connection with a bankruptcy or similar proceeding involving the
related Mortgagor or a modification, waiver or amendment of such Mortgage Loan
granted or agreed to by the Special Servicer pursuant to Section 3.20, the
amount of such principal and/or interest so canceled; (3) each Mortgage Loan as
to which the Mortgage Rate thereon has been permanently reduced and not
recaptured for any period in connection with a bankruptcy or similar proceeding
involving the related Mortgagor or a modification, waiver or amendment of such
Mortgage Loan granted or agreed to by the Special Servicer pursuant to Section
3.20, the amount of the consequent reduction in the interest portion of each
successive Periodic Payment due thereon (each such Realized Loss shall be deemed
to have been incurred on the Due Date for each affected Periodic Payment); and
(4) each Mortgage Loan for which a Final Recovery Determination has been made,
to the extent not included in clause (1) above, Nonrecoverable Advances
(including interest on such Nonrecoverable Advance) to the extent amounts have
been paid from the Principal Distribution Amount pursuant to Section 3.05(a)
hereof.

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

            "Registered Certificate": Any Class A-1, Class A-2, Class A-3, Class
A-PB, Class A-4, Class A-1A, Class IO, Class A-M, Class A-J, Class B, Class C,
Class D or Class E Certificate.

            "Regular Certificate": Any REMIC II Certificate other than a Class
R-II Certificate.

            "Regulation AB": Subpart 229.1100 - Asset Backed Securities
(Regulation AB), 17 C.F.R. ss.ss.229.1100-229.1123, as such may be amended from
time to time, and subject to such clarification and interpretation as have been
provided by the Commission in the adopting release (Asset-Backed Securities,
Securities Act Release No. 33-8518, 70 Fed. Reg. 1,506-1,631 (Jan. 7, 2005)) or
by the staff of the Commission, or as may be provided by the Commission or its
staff from time to time.

            "Regulation AB Companion Loan Securitization": As defined in Section
3.29(a).

            "Regulation S": Regulation S under the Act.

            "Regulation S Certificate": A certificate in the form of Exhibit F
attached hereto.

            "Regulation S Global Certificate": A global certificate representing
interests in a Class of Certificates as provided in Section 5.02(e), initially
sold in offshore transactions in reliance on Regulation S in fully registered
form without interest coupons.

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

            "Release Date": The 40th day after the later of (i) commencement of
the offering of the Certificates and (ii) the Closing Date.

            "Relevant Servicing Criteria": The Servicing Criteria applicable to
the various parties, as set forth on Exhibit S attached hereto. For
clarification purposes, multiple parties can have responsibility for the same
Relevant Servicing Criteria. With respect to a Servicing Participant engaged by
the Trustee, the Master Servicer or the Special Servicer, the term "Relevant
Servicing Criteria" may refer to a portion of the Relevant Servicing Criteria
for each of the Master Servicer, the Special Servicer or the Trustee, as
applicable.

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

            "REMIC Administrator": The Trustee or any REMIC administrator
appointed pursuant to Section 8.14.

            "REMIC I": The segregated pool of assets subject hereto,
constituting the primary trust created hereby and to be administered hereunder
with respect to which a separate REMIC election is to be made and, consisting
of: (i) all of the Mortgage Loans as from time to time are subject to this
Agreement and all payments under and proceeds of such Mortgage Loans received
after the Closing Date (excluding all Additional Interest on such Mortgage
Loans), together with all documents included in the related Mortgage Files and
any related Escrow Payments and Reserve Funds; (ii) all amounts held from time
to time with respect to a Mortgage Loan in the Interest Reserve Account, the
Certificate Account, the Distribution Account, the Gain-on-Sale Reserve Account,
the Interest Shortfall Account and any REO Account; (iii) any REO Property
acquired in respect of a Mortgage Loan to the extent of the Trust Fund's
interest therein (or the Trust Fund's beneficial interest in the Mortgaged
Property securing the 2006-C28 Serviced Mortgage Loan acquired under the
2006-C28 Pooling and Servicing Agreement); (iv) the rights of the Depositor
under Sections 2, 3, 9, 10, 11, 12, 13, 14, 16, 17, 18 and 19 of each of the
Mortgage Loan Purchase Agreements with respect to such Mortgage Loans; (v) the
rights of the mortgagee under all Insurance Policies with respect to such
Mortgage Loans, in each of the foregoing clauses exclusive of the interest of
the holder of a Companion Loan therein.

            "REMIC I Pass-Through Rate": As set forth in the Preliminary
Statement.

            "REMIC I Principal Balance": The principal balance of any REMIC I
Regular Interest outstanding as of any date of determination. As of the Closing
Date, the REMIC I Principal Balance of each REMIC I Regular Interest shall equal
the original REMIC I Principal Balance corresponding to the Corresponding
Certificates as set forth in the Preliminary Statement hereto. On each
Distribution Date, the REMIC I Principal Balance of each REMIC I Regular
Interest shall be permanently reduced by all distributions of principal deemed
to have been made in respect of such REMIC I Regular Interest on such
Distribution Date pursuant to Section 4.01(h), and shall be further permanently
reduced on such Distribution Date by all Realized Losses and Additional Trust
Fund Expenses deemed to have been allocated thereto on such Distribution Date
pursuant to Section 4.04(b) and shall be increased on such Distribution Date by
Certificate Deferred Interest deemed to have been allocated thereto on such
Distribution Date pursuant to Section 4.04(c).

            "REMIC I Regular Interest": Any of the separate uncertificated
beneficial ownership interests in REMIC I issued hereunder, and designated as a
"regular interest" in REMIC I, held as an asset of REMIC II and having the
original REMIC I Principal Balance and REMIC I Pass-Through Rate as described in
the Preliminary Statement hereto.

            "REMIC II": The segregated pool of assets consisting of all of the
REMIC I Regular Interests and all amounts held from time to time, to the extent
related to REMIC II, in the Distribution Account, conveyed in trust to the
Trustee for the benefit of REMIC II, as holder of the REMIC I Regular Interests,
and the Holders of the Class R-II Certificates pursuant to Section 2.9, with
respect to which a separate REMIC election is to be made.

            "REMIC II Certificate": Any Class A-1, Class A-2, Class A-3, Class
A-PB, Class A-4, Class A-1A, Class A-M, Class A-J, 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 Q, Class IO or Class R-II Certificate.

            "REMIC Provisions": Provisions of the federal income tax law
relating to real estate mortgage investment conduits, which appear at Sections
860A through 860G of Subchapter M of Chapter 1 of the Code, and related
provisions, and proposed, temporary and final Treasury regulations and any
published rulings, notices and announcements promulgated thereunder, as the
foregoing may be in effect from time to time.

            "Renaissance Tower Office Building Control Appraisal Period": The
"Control Appraisal Period" as that term is defined in the Renaissance Tower
Office Building Intercreditor Agreement.

            "Renaissance Tower Office Building Intercreditor Agreement": The
Intercreditor and Servicing Agreement, dated as of November 17, 2006, by and
between Wachovia Bank, National Association, as Initial Lead Lender, and
MW1-2002, LLC, as Initial Co-Lender, relating to the Renaissance Tower Office
Building Whole Loan.

            "Renaissance Tower Office Building Loan": That certain Mortgage Loan
which is included in the Trust Fund (identified as loan number 7 on the Mortgage
Loan Schedule).

            "Renaissance Tower Office Building Subordinate Companion Loan": That
certain mortgage loan evidenced by a note, which is not an asset of the Trust
Fund, secured by the Mortgaged Property securing the Renaissance Tower Office
Building Loan and subordinate in right of entitlement to the Renaissance Tower
Office Building Loan.

            "Renaissance Tower Office Building Whole Loan": The Renaissance
Tower Office Building Loan, together with the Renaissance Tower Office Building
Subordinate Companion Loan.

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

            "REO Account": A segregated account or accounts created and
maintained by the Special Servicer pursuant to Section 3.16 on behalf of the
Trustee in trust for the Certificateholders, which shall be entitled "LNR
Partners, Inc., as Special Servicer, in trust for the registered holders of
Wachovia Bank Commercial Mortgage Trust, Commercial Mortgage Pass-Through
Certificates, Series 2006-C29."

            "REO Acquisition": The acquisition of any REO Property by the Trust
Fund pursuant to Section 3.09.

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

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

            "REO Loan": The Mortgage Loan deemed for purposes hereof to be
outstanding with respect to each REO Property to the extent of the Trust Fund's
interest therein. Each REO Loan shall be deemed to be outstanding for so long as
the related REO Property remains part of REMIC I and deemed to provide for
Periodic Payments of principal and/or interest equal to its Assumed Scheduled
Payment and otherwise to have the same terms and conditions as its predecessor
Mortgage Loan (such terms and conditions to be applied without regard to the
default on such predecessor Mortgage Loan and the acquisition of the related REO
Property as part of the Trust Fund). Each REO Loan shall be deemed to have an
initial unpaid principal balance and Stated Principal Balance equal to the
unpaid principal balance and Stated Principal Balance, respectively, of its
predecessor Mortgage Loan (or, if applicable, Companion Loan) as of the date of
the related REO Acquisition. All Scheduled Payments (other than a Balloon
Payment), Assumed Scheduled Payments (in the case of a Balloon Mortgage Loan
delinquent in respect of its Balloon Payment) and other amounts due and owing,
or deemed to be due and owing, in respect of the predecessor Mortgage Loan as of
the date of the related REO Acquisition, shall be deemed to continue to be due
and owing in respect of an REO Loan. In addition, Nonrecoverable Advances and
Unliquidated Advances (including interest on such Nonrecoverable Advances or
Unliquidated Advances) with respect to such REO Loan that were paid from
collections on the Mortgage Loans and resulted in principal distributed to the
Certificateholders being reduced pursuant to Section 3.05(a) hereof, shall be
deemed outstanding until recovered or until a Final Recovery Determination is
made. Collections in respect of each REO Loan (after provision for amounts to be
applied to the payment of, or to be reimbursed to the Master Servicer, the
Special Servicer or the Trustee for the payment of, the costs of operating,
managing, selling, leasing and maintaining the related REO Property or for the
reimbursement of the Master Servicer, the Special Servicer or the Trustee for
Advances as provided in this Agreement) shall be treated: first, as a recovery
of Nonrecoverable Advances and Unliquidated Advances (including interest on such
Nonrecoverable Advances and Unliquidated Advances) with respect to such REO
Loan, in each case that relate to Advances that were paid from collections on
the Mortgage Loans and resulted in principal distributed to the
Certificateholders being reduced pursuant to Section 3.05(a) hereof; second, as
a recovery of accrued and unpaid interest on such REO Loan at the related
Mortgage Rate to but not including the Due Date in the Collection Period of
receipt (exclusive of any portion thereof that constitutes Additional Interest);
third, as a recovery of principal of such REO Loan to the extent of its entire
unpaid principal balance; and fourth, in accordance with the normal servicing
practices of the Master Servicer, as a recovery of any other amounts due and
owing in respect of such REO Loan, including, without limitation, (i) Yield
Maintenance Charges, Prepayment Premiums and Penalty Interest and (ii)
Additional Interest and other amounts, in that order. Notwithstanding the
foregoing, all amounts payable or reimbursable to the Master Servicer, the
Special Servicer or the Trustee in respect of the predecessor Mortgage Loan as
of the date of the related REO Acquisition, including, without limitation, any
unpaid Servicing Fees and any unreimbursed Servicing Advances and P&I Advances,
together with any interest accrued and payable to the Master Servicer, the
Special Servicer or the Trustee in respect of such Servicing Advances and P&I
Advances in accordance with Sections 3.03(d) and 4.03(d), shall continue to be
payable or reimbursable to the Master Servicer, the Special Servicer or the
Trustee, as the case may be, in respect of an REO Loan pursuant to Section
3.05(a).

            "REO Property": A Mortgaged Property acquired on behalf and in the
name of the Trustee (or, in the case of the 2006-C28 Serviced Mortgage Loan, the
Trust Fund's proportionate beneficial interest in the Mortgaged Property
acquired by the 2006-C28 Trustee pursuant to the 2006-C28 Pooling and Servicing
Agreement) for the benefit of the Certificateholders (subject to the related
Intercreditor Agreement with respect to a Mortgaged Property securing a Loan
Pair) through foreclosure, acceptance of a deed-in-lieu of foreclosure or
otherwise in accordance with applicable law in connection with the default or
imminent default of a Mortgage Loan.

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

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

            "Reportable Event": As defined in Section 8.17(j).

            "Reporting Party": The Master Servicer, the Special Servicer, the
Trustee, an Additional Servicer or a Servicing Participant.

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

            "Required Appraisal": With respect to each Required Appraisal
Mortgage Loan, an appraisal of the related Mortgaged Property from an
Independent Appraiser selected by the Special Servicer.

            "Required Appraisal Date": With respect to any Required Appraisal
Mortgage Loan, the earliest date on which any of the items specified in clauses
(i) through (vi) of the first paragraph of the definition of Required Appraisal
Mortgage Loan occurs.

            "Required Appraisal Mortgage Loan": Other than with respect to the
2006-C28 Serviced Mortgage Loan, (i) any Mortgage Loan (including the Centro
Syndicate 2 Pool Future Pari Passu Companion Loan, if funded, and the Centro
International Wholesale Pool Future Pari Passu Companion Loan, if funded) that
is 60 days or more delinquent in respect of any Periodic Payments, (ii) any
Mortgage Loan that becomes an REO Loan, (iii) any Mortgage Loan that has been
modified by the Special Servicer to reduce the amount of any Periodic Payment
(other than a Balloon Payment), (iv) any Mortgage Loan with respect to which a
receiver is appointed and continues in such capacity in respect of the related
Mortgaged Property, (v) any Mortgage Loan with respect to which a Mortgagor
declares bankruptcy or with respect to which the related Mortgagor is subject to
a bankruptcy proceeding, (vi) any Mortgage Loan with respect to which any
Balloon Payment on such Mortgage Loan (including the Centro Syndicate 2 Pool
Future Pari Passu Companion Loan, if funded, and the Centro International
Wholesale Pool Future Pari Passu Companion Loan, if funded) has not been paid by
its scheduled maturity date; provided, however, if the related Mortgagor
continues to make its Assumed Scheduled Payment and diligently pursues
refinancing, such Mortgage Loan shall not become a Required Appraisal Mortgage
Loan until 60 days following such default or, if the Master Servicer has, within
60 days after the Due Date of such Balloon Payment, received written evidence
from an institutional lender of such lender's binding commitment (which is
reasonably acceptable to the Special Servicer and for which the Controlling
Class Representative has given its consent (which consent shall be deemed denied
if not granted within 10 Business Days)) to refinance such Mortgage Loan
(including the Centro Syndicate 2 Pool Future Pari Passu Companion Loan, if
funded, and the Centro International Wholesale Pool Future Pari Passu Companion
Loan, if funded), 120 days following such default (provided that if such
refinancing does not occur during such time specified in the commitment, the
related Mortgage Loan (including the Centro Syndicate 2 Pool Future Pari Passu
Companion Loan, if funded, and the Centro International Wholesale Pool Future
Pari Passu Companion Loan, if funded) will immediately become a Required
Appraisal Mortgage Loan) or (vii) any Mortgage Loan that is outstanding 60 days
after the third anniversary of an extension of its Stated Maturity Date;
provided, however, a Required Appraisal Mortgage Loan will cease to be a
Required Appraisal Mortgage Loan:

            (a) with respect to the circumstances described in clauses (i) and
      (iii) above, when the related Mortgagor has made three consecutive full
      and timely Periodic Payments under the terms of such Mortgage Loan (other
      than the 2006-C28 Serviced Mortgage Loan) (as such terms may be changed or
      modified in connection with a bankruptcy or similar proceeding involving
      the related Mortgagor or by reason of a modification, waiver or amendment
      granted or agreed to by the Special Servicer pursuant to Section 3.20);
      and

            (b) with respect to the circumstances described in clauses (iv), (v)
      and (vi) above, when such circumstances cease to exist in the good faith
      reasonable judgment of the Special Servicer and in accordance with the
      Servicing Standard, but, with respect to any bankruptcy or insolvency
      proceedings described in clauses (iv) and (v), no later than the entry of
      an order or decree dismissing such proceeding, and with respect to the
      circumstances described in clause (vi) above, no later than the date that
      the Special Servicer agrees to an extension pursuant to Section 3.20
      hereof;

so long as at that time no circumstance identified in clauses (i) through (vi)
above exists that would cause the Mortgage Loan (other than the 2006-C28
Serviced Mortgage Loan) to continue to be characterized as a Required Appraisal
Mortgage Loan.

            "Required Appraisal Value": An amount equal to 90% of the Appraised
Value (net of any prior liens and estimated liquidation expenses and any other
downward adjustments the Special Servicer may deem appropriate (without implying
any obligation to do so) based upon its review of the Appraisal and such other
information as the Special Servicer may deem appropriate) of the Mortgaged
Property related to the subject Required Appraisal Mortgage Loan as determined
by a Required Appraisal or letter update or internal valuation, if applicable;
provided that for purposes of determining any Appraisal Reduction Amount in
respect of such Required Appraisal Mortgage Loan, such Appraisal Reduction
Amount shall be amended annually to reflect the Required Appraisal Value
determined pursuant to any Required Appraisal or letter update or internal
valuation, if applicable, of a Required Appraisal conducted subsequent to the
original Required Appraisal performed pursuant to Section 3.09(a).

            "Reserve Account": The account or accounts created and maintained
pursuant to Section 3.03(f).

            "Reserve Funds": With respect to any Mortgage Loan (other than the
2006-C28 Serviced Mortgage Loan), any amounts delivered by the related Mortgagor
to be held in escrow by or on behalf of the mortgagee representing reserves for
environmental remediation, repairs, capital improvements, tenant improvements
and/or leasing commissions with respect to the related Mortgaged Property.

            "Residual Certificate": A Class R-I Certificate or Class R-II
Certificate.

            "Responsible Officer": When used with respect to (i) the initial
Trustee, any officer or assistant officer in the Corporate Trust Office of the
initial Trustee, and (ii) any successor trustee, any officer or assistant
officer in the corporate trust department of the successor trustee, or any other
officer or assistant officer of the successor trustee customarily performing
functions similar to those performed by any of the above designated officers to
whom a particular matter is referred by the successor trustee because of such
officer's knowledge of and familiarity with the particular subject.

            "Restricted Period": The 40-day period prescribed by Regulation S
commencing on the later of (a) the date upon which the Certificates are first
offered to persons other than the managers and any other distributor (as defined
in Regulation S) of the Certificates, and (b) the Closing Date.

            "Restricted Servicer Reports": Each of the CMSA Servicer Watchlist,
CMSA Operating Statement Analysis, CMSA NOI Adjustment Worksheet and CMSA
Comparative Financial Status Report. If a Restricted Servicer Report is filed
with the Commission, it shall thereafter be an Unrestricted Servicer Report.

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

            "Sarbanes-Oxley Act": The Sarbanes-Oxley Act of 2002 and the rules
and regulations of the Commission promulgated thereunder (including any
interpretations thereof by the Commission's staff).

            "Sarbanes-Oxley Certification": A written certification signed by an
officer of the Depositor that complies with (i) the Sarbanes-Oxley Act of 2002,
as amended from time to time, including all necessary Regulation AB
certification requirements, and (ii) Exchange Act Rules 13a-14(d) and 15d-14(d),
as in effect from time to time.

            "Scheduled Payment": With respect to any Mortgage Loan, for any Due
Date following the Cut-Off Date as of which it is outstanding, the scheduled
Periodic Payment of principal and interest (other than Additional Interest) on
such Mortgage Loan that is or would be, as the case may be, payable by the
related Mortgagor on such Due Date under the terms of the related Mortgage Note
as in effect on the Closing Date, without regard to any subsequent change in or
modification of such terms in connection with a bankruptcy or similar proceeding
involving the related Mortgagor or a modification, waiver or amendment of such
Mortgage Loan granted or agreed to by the Special Servicer pursuant to Section
3.20 or acceleration of principal by reason of default, and assuming that each
prior Scheduled Payment has been made in a timely manner.

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

            "Senior Certificate": Any Class A-1, Class A-2, Class A-3, Class
A-PB, Class A-4, Class A-1A or Class IO Certificate.

            "Sequential Pay Certificates": Any Class A-1, Class A-2, Class A-3,
Class A-PB, Class A-4, Class A-1A, Class A-M, Class A-J, 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 or Class Q Certificate.

            "Servicer Fee Amount": With respect to each Sub-Servicer and any
date of determination, the aggregate of the products obtained by multiplying,
for each Mortgage Loan serviced by such Sub-Servicer, (a) the Stated Principal
Balance of such Mortgage Loan as of the end of the immediately preceding
Collection Period and (b) the servicing fee rate specified in the related
Sub-Servicing Agreement for such Mortgage Loan. With respect to the Master
Servicer and any date of determination, the aggregate of the products obtained
by multiplying, for each Mortgage Loan (a) the Stated Principal Balance of such
Mortgage Loan as of the end of the immediately preceding Collection Period and
(b) the difference between the Master Servicing Fee Rate for such Mortgage Loan
over the servicing fee rate (if any) applicable to such Mortgage Loan as
specified in any Sub-Servicing Agreement related to such Mortgage Loan.

            "Servicer Reports": Any of the Restricted Servicer Reports, the
Unrestricted Servicer Reports, the CMSA Loan Setup File, the CMSA Loan Periodic
Update File, the CMSA Financial File, CMSA Property File, the CMSA Advance
Recovery Report, the CMSA Total Loan Report and a report reconciling Penalty
Interest and late payment charges collected with interest on Advances and
Additional Trust Fund Expenses.

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

            "Servicing Advances": All customary, reasonable and necessary "out
of pocket" costs and expenses incurred by or on behalf of the Master Servicer,
the Special Servicer or the Trustee in connection with the servicing of a
Mortgage Loan or a Companion Loan (other than the 2006-C28 Serviced Mortgage
Loan and its related Companion Loan), or in connection with the administration
of any related REO Property, including, but not limited to, the cost of (a)
compliance with the obligations of the Master Servicer and the Special Servicer,
if any, set forth in Section 3.02 and Section 3.03(c), (b) the preservation,
insurance, restoration, protection and management of a Mortgaged Property,
including the cost of any "forced placed" insurance policy purchased by the
Master Servicer to the extent such cost is allocable to a particular Mortgaged
Property that the Master Servicer or the Special Servicer is required to cause
to be insured pursuant to Section 3.07(a), (c) obtaining any Insurance Proceeds
or any Liquidation Proceeds of the nature described in clauses (i) through (v)
of the definition of "Liquidation Proceeds," (d) any enforcement or judicial
proceedings with respect to a Mortgaged Property, including, without limitation,
foreclosures, (e) any Required Appraisal or other appraisal expressly required
or permitted to be obtained hereunder, (f) the operation, management,
maintenance and liquidation of any such REO Property, including, without
limitation, appraisals and compliance with Section 3.16(a) (to the extent not
covered by available funds in the REO Account) and Section 3.20(h) (to the
extent not paid by the related Mortgagor) and (g) compliance with the
obligations of the Master Servicer or the Trustee set forth in Section 2.03(a)
or (b). Notwithstanding anything to the contrary, "Servicing Advances" shall not
include allocable overhead of the Master Servicer or the Special Servicer, such
as costs for office space, office equipment, supplies and related expenses,
employee salaries and related expenses and similar internal costs and expenses
or costs and expenses incurred by any such party in connection with its purchase
of a Mortgage Loan or REO Property, or costs or expenses expressly required to
be borne by the Master Servicer or Special Servicer without reimbursement
pursuant to the terms of this Agreement.

            "Servicing Criteria": The "servicing criteria" set forth in Item
1122(d) of Regulation AB.

            "Servicing Fees": With respect to each Mortgage Loan, Companion Loan
and REO Loan, the Master Servicing Fee and the Special Servicing Fee.

            "Servicing File": Any documents, certificates, opinions and reports
(other than documents required to be part of the related Mortgage File)
delivered by the related Mortgagor in connection with, or relating to the
origination and servicing of any Mortgage Loan or Companion Loan which are
reasonably required for the ongoing administration of the Mortgage Loan and the
Companion Loan, including management agreements, cash management agreements,
lockbox agreements, franchise agreements, franchise comfort letters (and
evidence of required notification of transfer), appraisals, surveys, engineering
reports, environmental reports, operation and maintenance (O&M) plans, financial
statements, leases, rent rolls and tenant estoppels.

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

            "Servicing Participant": Any Additional Servicer, Sub-Servicer,
Subcontractor or any other Person, other than the Master Servicer, the Special
Servicer and the Trustee, that is performing activities addressed by the
Servicing Criteria, unless such Person's activities relate only to 5% or less of
the Mortgage Loans.

            "Servicing-Released Bid": As defined in Section 7.01(c).

            "Servicing-Retained Bid": As defined in Section 7.01(c).

            "Servicing Standard": With respect to the Master Servicer or the
Special Servicer, as applicable, the servicing and administration of the
Mortgage Loans (other than the 2006-C28 Serviced Mortgage Loan) and the
Companion Loans (other than the Non-Serviced Companion Loans) for which it is
responsible hereunder (a) in the same manner in which, and with the same care,
skill, prudence and diligence with which the Master Servicer or the Special
Servicer, as the case may be, generally services and administers similar
mortgage loans with similar mortgagors (i) for other third-parties, giving due
consideration to customary and usual standards of practice of prudent
institutional commercial mortgage lenders servicing their own loans or (ii) held
in its own portfolio, whichever standard is higher, (b) with a view to the
maximization of the recovery on such Mortgage Loan on a net present value basis
and the best interests of the Certificateholders and the Trust Fund or, if a
Loan Pair (other than the 2006-C28 Serviced Mortgage Loan) is involved, with a
view towards the maximization of recovery on such Loan Pair to the
Certificateholders, the related Companion Holders and the Trust Fund (as a
collective whole, taking into account that the Subordinate Companion Loans are
subordinate to the related Co-Lender Loans and the Pari Passu Companion Loans
are pari passu in right of payment with the Pari Passu Mortgage Loan, in each
case to the extent set forth in the related Intercreditor Agreement) and (c)
without regard to (i) any relationship that the Master Servicer or the Special
Servicer, as the case may be, or any Affiliate thereof may have with the related
Mortgagor, the Depositor, any Mortgage Loan Seller or any other party to the
transaction or any Affiliate thereof; (ii) the ownership of any Certificate or
Companion Loan (or other interest in any Mortgage Loan or Companion Loan) by the
Master Servicer or the Special Servicer, as the case may be, or by any Affiliate
thereof; (iii) the right of the Master Servicer or the Special Servicer, as the
case may be, to receive compensation or other fees for its services rendered
pursuant to this Agreement; (iv) the obligations of the Master Servicer to make
Advances; (v) the ownership, servicing or management by the Master Servicer or
the Special Servicer, as the case may be, or any Affiliate thereof for others of
any other mortgage loans or mortgaged property; (vi) any obligation of the
Master Servicer or any Affiliate of the Master Servicer to repurchase or
substitute a Mortgage Loan as a Mortgage Loan Seller; (vii) any obligation of
the Master Servicer or any Affiliate of the Master Servicer to cure a breach of
a representation and warranty with respect to a Mortgage Loan; and (viii) any
debt the Master Servicer or Special Servicer or any Affiliate of either has
extended to any Mortgagor or any Affiliate of such Mortgagor.

            "Servicing Transfer Event": With respect to any Mortgage Loan (other
than the 2006-C28 Serviced Mortgage Loan), the occurrence of any of the events
described in clauses (a) through (h) of the definition of "Specially Serviced
Mortgage Loan".

            "Similar Law": As defined in Section 5.02(c).

            "Single Certificate": For purposes of Section 4.02, a hypothetical
Certificate of any Class of Regular Certificates evidencing a $1,000
denomination.

            "Special Reserve Account": As used herein, the Trustee may create a
segregated custodial account or accounts pursuant to Section 2.02(d) in trust
for the Certificateholders, which shall be entitled "Wells Fargo Bank, N.A., as
Trustee, in trust for the registered holders of Wachovia Bank Commercial
Mortgage Trust, Commercial Mortgage Pass-Through Certificates, Series 2006-C29
and [name of party providing the funds]". Any such account will be an Eligible
Account.

            "Special Servicer": With respect to each Mortgage Loan (other than
the 2006-C28 Serviced Mortgage Loan), LNR Partners, Inc., or, any successor
special servicer appointed as herein provided.

            "Special Servicing Fee": With respect to each Specially Serviced
Mortgage Loan and each REO Loan, the fee designated as such and payable to the
Special Servicer pursuant to the first paragraph of Section 3.11(c).

            "Special Servicing Fee Rate": With respect to each Specially
Serviced Mortgage Loan and each REO Loan, 0.25% per annum.

            "Specially Serviced Mortgage Loan": Any Mortgage Loan (other than
the 2006-C28 Serviced Mortgage Loan) or Companion Loan (other than the
Non-Serviced Companion Loans) as to which any of the following events have
occurred:

            (a) the related Mortgagor shall have (i) failed to make any Balloon
      Payment; provided, however, if the Mortgagor continues to make its Assumed
      Scheduled Payment and diligently pursues refinancing, a Servicing Transfer
      Event shall not occur until 60 days following such default (or, if the
      Master Servicer has, within in 60 days after the Due Date of such Balloon
      Payment, received written evidence from an institutional lender of such
      lender's binding commitment (which is reasonably acceptable to the Special
      Servicer and for which the Controlling Class Representative has given its
      consent (which consent shall be deemed denied if not granted within 10
      Business Days)) to refinance such Mortgage Loan, 120 days following such
      default) (provided that if such refinancing does not occur during the time
      period specified in such written refinancing commitment, a Servicing
      Transfer Event will be deemed to occur); or (ii) failed to make when due
      any Periodic Payment (other than a Balloon Payment), and such failure has
      continued unremedied for 60 days; or

            (b) the Master Servicer or Special Servicer (in the case of the
      Special Servicer, with the consent of the Controlling Class
      Representative) shall have determined (with written notice of any such
      determination by the Special Servicer to be promptly given by the Special
      Servicer to the Master Servicer), in its good faith reasonable judgment,
      and in accordance with the Servicing Standard, based on communications
      with the related Mortgagor, that a default in making a Periodic Payment
      (including a Balloon Payment) or any other default under the applicable
      Mortgage Loan documents that would (with respect to such other default)
      materially impair the value of the Mortgaged Property as security for the
      Mortgage Loan and, if applicable, Companion Loan or otherwise would
      materially adversely affect the interests of Certificateholders and would
      continue unremedied beyond the applicable grace period under the terms of
      the Mortgage Loan (or, if no grace period is specified, for 60 days;
      provided that a default that would give rise to an acceleration right
      without any grace period shall be deemed to have a grace period equal to
      zero) is likely to occur and is likely to remain unremedied for at least
      60 days; or

            (c) there shall have occurred a default (other than as described in
      clause (a) above) that the Master Servicer or the Special Servicer (in the
      case of the Special Servicer, with the consent of the Controlling Class
      Representative) shall have determined (with written notice of any such
      determination by the Special Servicer to be promptly given by the Special
      Servicer to the Master Servicer), in its good faith and reasonable
      judgment, and in accordance with the Servicing Standard, materially
      impairs the value of the Mortgaged Property as security for the Mortgage
      Loan and, if applicable, Companion Loan, or otherwise materially adversely
      affects the interests of Certificateholders and that continues unremedied
      beyond the applicable grace period under the terms of the Mortgage Loan
      (or, if no grace period is specified, for 60 days; provided that a default
      that gives rise to an acceleration right without any grace period shall be
      deemed to have a grace period equal to zero); provided, however, in the
      event the Special Servicer with the consent of the Controlling Class
      Representative determines that the related Mortgagor does not need to
      maintain terrorism insurance as provided in Section 3.07(a), no default
      related to the failure to obtain such insurance shall be deemed to be
      outstanding for purposes of this clause(c); or

            (d) a decree or order of a court or agency or supervisory authority
      having jurisdiction in the premises in an involuntary case under any
      present or future federal or state bankruptcy, insolvency or similar law
      or the appointment of a conservator or receiver or liquidator in any
      insolvency, readjustment of debt, marshaling of assets and liabilities or
      similar proceedings, or for the winding-up or liquidation of its affairs,
      shall have been entered against the related Mortgagor; provided that if
      such decree or order is discharged, dismissed or stayed within 60 days it
      shall not be a Specially Serviced Mortgage Loan (and no Special Servicing
      Fees shall be payable); or

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

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

            (g) the Master Servicer shall have force placed insurance against
      damages or losses arising from acts of terrorism due to the failure of the
      related Mortgagor to maintain or cause such insurance to be maintained and
      (1) subsequent to such force placement such Mortgagor fails to maintain or
      cause to be maintained insurance coverage against damages for losses
      arising from acts of terrorism for a period of 60 days (or such shorter
      time period as the Controlling Class Representative may consent to) or (2)
      the Master Servicer fails to have been reimbursed from any Servicing
      Advances made in connection with the force placement of such insurance
      coverage (unless the circumstances giving rise to such forced placement of
      such insurance coverage have otherwise been cured and the Master Servicer
      has been reimbursed for any Servicing Advances made in connection with the
      forced placement of such insurance coverage); or

            (h) the Master Servicer shall have received notice of the
      commencement of foreclosure or similar proceedings with respect to the
      related Mortgaged Property;

            provided, however, a Companion Loan shall be deemed to be a
Specially Serviced Mortgage Loan if the related Co-Lender Loan becomes a
Specially Serviced Mortgage Loan and a Co-Lender Loan shall be deemed to be a
Specially Serviced Mortgage Loan if the related Companion Loan becomes a
Specially Serviced Mortgage Loan; provided, further, however, a Mortgage Loan or
Companion Loan will cease to be a Specially Serviced Mortgage Loan:

            (i) with respect to the circumstances described in clause (a) above,
      when the related Mortgagor has made three consecutive full and timely
      Periodic Payments under the terms of such Mortgage Loan or Companion Loan
      (as such terms may be changed or modified in connection with a bankruptcy
      or similar proceeding involving the related Mortgagor or by reason of a
      modification, waiver or amendment granted or agreed to by the Special
      Servicer pursuant to Section 3.20);

            (ii) with respect to the circumstances described in clauses (b),
      (d), (e) and (f) above, when such circumstances cease to exist in the good
      faith reasonable judgment of the Special Servicer and in accordance with
      the Servicing Standard, but, with respect to any bankruptcy or insolvency
      proceedings described in clauses (d), (e) and (f), no later than the entry
      of an order or decree dismissing such proceeding;

            (iii) with respect to the circumstances described in clause (c) and
      (g) above, when such default is cured; and

            (iv) with respect to the circumstances described in clause (h)
      above, when such proceedings are terminated;

so long as at that time no circumstance identified in clauses (a) through (h)
above exists that would cause the Mortgage Loan (or, with respect to a Co-Lender
Loan, the related Companion Loan, or, with respect to a Companion Loan, the
related Co-Lender Loan) to continue to be characterized as a Specially Serviced
Mortgage Loan; provided no additional default is foreseeable in the reasonable
good faith judgment of the Special Servicer. The determination as to whether the
2006-C28 Serviced Mortgage Loan is a Specially Serviced Mortgage Loan shall be
made pursuant to the 2006-C28 Pooling and Servicing Agreement.

            "Startup Day": With respect to each of REMIC I and REMIC II, the day
designated as such in Section 10.01(c).

            "State and Local Taxes": Taxes imposed by the States of New York,
North Carolina, Florida and Minnesota and by any other state or local taxing
authorities; provided that such states and such other state and local taxing
authorities, by notice to the Trustee, assert jurisdiction over the Trust Fund
or any portion thereof, or which, according to an Opinion of Counsel addressed
to the Trustee, have such jurisdiction.

            "Stated Maturity Date": With respect to any Mortgage Loan, the Due
Date specified in the Mortgage Note (as in effect on the Closing Date) on which
the last payment of principal is due and payable under the terms of the Mortgage
Note (as in effect on the Closing Date), without regard to any change in or
modification of such terms in connection with a bankruptcy or similar proceeding
involving the related Mortgagor or a modification, waiver or amendment of such
Mortgage Loan granted or agreed to by the Special Servicer pursuant to Section
3.20 and, in the case of an ARD Loan, without regard to its Anticipated
Repayment Date.

            "Stated Principal Balance": With respect to any Mortgage Loan, as of
any date of determination, an amount (which amount shall not be less than zero)
equal to (x) the Cut-Off Date Balance of such Mortgage Loan (or, in the case of
a Qualified Substitute Mortgage Loan, the unpaid principal balance after
application of all principal payments due on or before the related date of
substitution, whether or not received), plus (y) any Mortgage Deferred Interest
added to the principal balance of such Mortgage Loan on or before the end of the
immediately preceding Collection Period minus (z) the sum of:

            (i) the principal portion of each Periodic Payment due on such
      Mortgage Loan after the Cut-Off Date or the related date of substitution,
      as the case may be, to the extent received from the Mortgagor or advanced
      by the 2006-C28 Master Servicer, the Master Servicer or the Trustee and
      distributed to Certificateholders on or before such date of determination;

            (ii) all Principal Prepayments received with respect to such
      Mortgage Loan after the Cut-Off Date or the related date of substitution,
      as the case may be, to the extent distributed to Certificateholders on or
      before such date of determination;

            (iii) the principal portion of all Insurance Proceeds and
      Liquidation Proceeds received with respect to such Mortgage Loan after the
      Cut-Off Date or the related date of substitution, as the case may be, to
      the extent distributed to Certificateholders on or before such date of
      determination;

            (iv) the principal portion of any Realized Loss incurred in respect
      of such Mortgage Loan during the related Collection Period; and

            (v) any amount of reduction in the outstanding principal balance of
      such Mortgage Loan resulting from a Deficient Valuation that occurred
      prior to the end of the Collection Period for the most recent Distribution
      Date.

            With respect to any REO Loan, as of any date of determination, an
amount equal to (x) the Stated Principal Balance of the predecessor Mortgage
Loan as of the date of the related REO Acquisition, minus (y) the sum of:

                  (A)   the principal portion of any P&I Advance made with
                        respect to the predecessor Mortgage Loan on or after the
                        date of the related REO Acquisition, to the extent
                        distributed to Certificateholders on or before such date
                        of determination; and

                  (B)   the principal portion of all Insurance Proceeds,
                        Liquidation Proceeds and REO Revenues received with
                        respect to such REO Loan, to the extent distributed to
                        Certificateholders on or before such date of
                        determination.

            A Mortgage Loan or an REO Loan shall be deemed to be part of the
Trust Fund and to have an outstanding Stated Principal Balance until the
Distribution Date on which the payments or other proceeds, if any, received in
connection with a Liquidation Event in respect thereof are to be (or, if no such
payments or other proceeds are received in connection with such Liquidation
Event, would have been) distributed to Certificateholders. In addition, to the
extent that principal from general collections is used to reimburse
Nonrecoverable Advances pursuant to Sections 3.05(a)(vii) and (viii) or Workout
Delayed Reimbursement Amounts pursuant to Sections 3.05(a)(vii) and (viii)
(which are only reimbursable from principal collections on the Mortgage Pool as
set forth in this Agreement) and such amount has not been included as part of
the Principal Distribution Amount, such amount shall nevertheless be deemed to
be part of the Principal Distribution Amount for purposes of clauses (i), (ii)
and (iii) above. Notwithstanding the foregoing, if any Mortgage Loan is paid in
full, liquidated or otherwise removed from the Trust Fund, commencing as of the
first Distribution Date following the Collection Period during which such event
occurred, the Stated Principal Balance of such Mortgage Loan will be zero.

            With respect to any Companion Loan on any date of determination, the
Stated Principal Balance shall equal the unpaid principal balance of such
Companion Loan.

            "Strip Rate": With respect to any Component for any Distribution
Date, a rate per annum equal to (i) the Weighted Average Net Mortgage Rate for
such Distribution Date, minus (ii) the Pass-Through Rate for the Corresponding
Certificates (provided that in no event shall the Strip Rate be less than zero).

            "Subcontractor": Any third-party or affiliated vendor, subcontractor
or other Person utilized by a Servicer, a Sub-Servicer, the Trustee or the
Custodian, as applicable, that is not responsible for the overall servicing (as
"servicing" is commonly understood by participants in the commercial
mortgage-backed securities market) of Mortgage Loans but performs one or more
discrete functions identified in Item 1122(d) of Regulation AB with respect to
Mortgage Loans.

            "Subordinate Companion Holder": The holders of any of the
Subordinate Companion Loans.

            "Subordinate Companion Loan": Each of the Galleria at Tyler
Subordinate Companion Loan, the Dakota Square Mall Subordinate Companion Loan,
the Aetna Building-Fresno, CA Subordinate Companion Loans and the FBI - Albany,
NY Subordinate Companion Loans, individually or collectively, as the context may
require.

            "Subordinated Certificate": Any Class A-M, Class A-J, 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 Q, Class Z, Class R-I or Class R-II
Certificate.

            "Sub-Servicer": Any Person with which the Master Servicer, the
Special Servicer or an Additional Servicer has entered into a Sub-Servicing
Agreement for the performance (whether directly or through Sub-Servicers or
Subcontractors) of a substantial portion of the material servicing functions
required to be performed by the Master Servicer or the Special Servicer under
this Agreement or by an Additional Servicer under a servicing agreement, with
respect to some or all of the Mortgage Loans, that are identified in Item
1122(d) of Regulation AB.

            "Sub-Servicing Agreement": The written contract between the Master
Servicer or the Special Servicer, on the one hand, and any Sub-Servicer, on the
other hand, relating to servicing and administration of Mortgage Loans as
provided in Section 3.22.

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

            "Successful Bidder": As defined in Section 7.01(c).

            "Tax Matters Person": With respect to each of REMIC I and REMIC II,
the Person designated as the "tax matters person" of such REMIC in the manner
provided under Treasury Regulations Section 1.860F-4(d) and Temporary Treasury
Regulations Section 301.6231(a)(7)-1T, which Person shall be the applicable
Plurality Residual Certificateholder.

            "Tax Returns": The federal income tax returns on Internal Revenue
Service Form 1066, U.S. Real Estate Mortgage Investment Conduit (REMIC) Income
Tax Return, including Schedule Q thereto, Quarterly Notice to Residual Interest
Holders of REMIC Taxable Income or Net Loss Allocation, or any successor forms,
to be filed on behalf of REMIC I and REMIC II due to its classification as a
REMIC under the REMIC Provisions, and the federal income tax return to be filed
on behalf of the Additional Interest Grantor Trust due to their classification
as a grantor trust under the Grantor Trust Provisions, together with any and all
other information, reports or returns that may be required to be furnished to
the Certificateholders or filed with the Internal Revenue Service under any
applicable provisions of federal tax law or any other governmental taxing
authority under applicable State and Local Tax laws.

            "Tenants-in-Common Loan": Those certain Mortgage Loans which are
identified on Exhibit Z hereto for which the related Mortgagors own the related
Mortgaged Property as tenants-in-common and the related Mortgagor is subject to
further syndication.

            "Time of Sale": As defined in that certain Underwriting Agreement,
dated as of December 13, 2006, among Wachovia Commercial Mortgage Securities,
Inc., Wachovia Bank, National Association, Wachovia Capital Markets, LLC,
Goldman, Sachs & Co. and Greenwich Capital Markets, Inc.

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

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

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

            "Trust-Related Litigation": As defined in Section 3.30.

            "Trust Fund": Collectively, (i) all of the assets of each of REMIC I
and REMIC II, and (ii) the Additional Interest Grantor Trust Assets.

            "Trustee": Wells Fargo Bank, N.A., its successor in interest, or any
successor trustee appointed as herein provided.

            "Trustee Fee": With respect to each Mortgage Loan and REO Loan for
any Distribution Date, an amount equal to one month's interest for the most
recently ended calendar month (calculated on a 30/360 Basis), accrued at the
Trustee Fee Rate on the Stated Principal Balance of such Mortgage Loan or REO
Loan, as the case may be, outstanding immediately following the prior
Distribution Date (or, in the case of the initial Distribution Date, as of the
Closing Date).

            "Trustee Fee Rate": 0.00062% per annum.

            "UCC": The Uniform Commercial Code in effect in the applicable
jurisdiction.

            "UCC Financing Statement": A financing statement executed and filed
pursuant to the Uniform Commercial Code, as in effect in any relevant
jurisdiction.

            "Underwriter": Each of Wachovia Capital Markets, LLC, Goldman, Sachs
& Co. and Greenwich Capital Markets, Inc. or, in each case, its successor in
interest.

            "United States Person": A citizen or resident of the United States,
a corporation or partnership (including an entity treated as a corporation or
partnership for federal income tax purposes) created or organized in, or under
the laws of, the United States, any State thereof or the District of Columbia
unless in the case of a partnership, Treasury Regulations are adopted that
provide otherwise, an estate whose income is includable in gross income for
United States federal income tax purposes regardless of its source or a trust if
a court within the United States is able to exercise primary supervision over
the administration of the trust, and one or more United States Persons have the
authority to control all substantial decisions of the trust, all within the
meaning of Section 7701(a)(30) of the Code (or, to the extent provided in
applicable Treasury regulations, certain trusts in existence on August 20, 1996,
that are eligible to elect to be treated as United States Persons).

            "Unliquidated Advance": Any Advance previously made by a party
hereto that has been previously reimbursed, as between the Person that made the
Advance hereunder, on the one hand, and the Trust Fund, on the other, as part of
a Workout-Delayed Reimbursement Amount pursuant to subsections (ii) and (vi) of
Section 3.05(a) but that has not been recovered from the Mortgagor or otherwise
from collections on or the proceeds of the Mortgage Loan or REO Property in
which the Trust Fund holds a beneficial interest in respect of which the Advance
was made.

            "Unrestricted Servicer Reports": Each of the CMSA Delinquent Loan
Status Report, CMSA Historical Loan Modification and Corrected Mortgage Loan
Report, CMSA Loan Level Reserve/LOC Report, CMSA REO Status Report, the CMSA
Advance Recovery Report and the CMSA Total Loan Report.

            "Voting Rights": The portion of the voting rights of all of the
Certificates which is allocated to any Certificate. At all times during the term
of this Agreement, 100% of the Voting Rights shall be allocated among the
Holders of the Regular Certificates. Ninety-six percent (96%) of the Voting
Rights shall be allocated among the Class A-1, Class A-2, Class A-3, Class A-PB,
Class A-4, Class A-1A, Class A-M, Class A-J, Class B, Class C, Class D, Class E,
Class F, Class G, Class H, Class J, Class K, Class L, Class M, Class N, Class O,
Class P and Class Q Certificates in proportion to the respective Class Principal
Balances of their Certificates (which proportion shall be calculated as equal to
the product of 96% and a fraction, the numerator of which is equal to the
aggregate Certificate Balance of the related Class of Certificates (adjusted as
provided in the immediately succeeding provisos) and the denominator of which is
equal to the aggregate Certificate Balances of all Classes of Certificates
referenced above, determined as of the Distribution Date immediately preceding
such time); provided that solely for the purpose of determining the Voting
Rights of the Classes of Sequential Pay Certificates, the aggregate Appraisal
Reduction Amount (determined as set forth herein) shall be treated as Realized
Losses with respect to the calculation of the Certificate Principal Balances
thereof; provided, further, however, the aggregate Appraisal Reduction Amount
shall not reduce the Class Principal Balance of any Class for purposes of
determining the Controlling Class, the Controlling Class Representative or the
Majority Subordinate Certificateholder. Four percent (4%) in the aggregate of
the Voting Rights shall be allocated to the Class IO Certificates. The Class Z
Certificates and the Residual Certificates shall have no voting rights. Voting
Rights allocated to a Class of Certificateholders shall be allocated among such
Certificateholders in standard proportion to the Percentage Interests evidenced
by their respective Certificates. In addition, if either the Master Servicer or
the Special Servicer is the holder of any Certificate, neither of the Master
Servicer or Special Servicer, in its capacity as a Certificateholder, shall have
Voting Rights with respect to matters concerning compensation affecting the
Master Servicer or the Special Servicer.

            "Wachovia": Wachovia Bank, National Association, or its successor in
interest.

            "Wachovia Mortgage Loan Purchase Agreement": That certain mortgage
loan purchase agreement, dated as of December 1, 2006 between the Depositor and
Wachovia and relating to the transfer of the Wachovia Mortgage Loans to the
Depositor.

            "Wachovia Mortgage Loans": Each of the Mortgage Loans transferred
and assigned to the Depositor pursuant to the Wachovia Mortgage Loan Purchase
Agreement.

            "Weighted Average Net Mortgage Rate": With respect to any
Distribution Date, the rate per annum equal to the weighted average, expressed
as a percentage and rounded to six decimal places, of the respective Net
Mortgage Rates applicable to the Mortgage Loans as of the first day of the
related Collection Period, weighted on the basis of their respective Stated
Principal Balances immediately following the preceding Distribution Date.

            "Whole Loan": Collectively, each Co-Lender Loan and its related
Companion Loans.

            "Workout-Delayed Reimbursement Amounts": With respect to any
Mortgage Loan, the amount of any Advance made with respect to such Mortgage Loan
on or before the date such Mortgage Loan becomes (or, but for the making of
three Monthly Payments under its modified terms, would then constitute) a
Corrected Mortgage Loan (or, with respect to the 2006-C28 Serviced Mortgage
Loan, a "corrected mortgage loan" under the 2006-C28 Pooling and Servicing
Agreement), together with (to the extent accrued and unpaid) interest on such
Advances, to the extent that (i) such Advance (and any interest thereon) is not
reimbursed to the Person who made such Advance on or before the date, if any, on
which such Mortgage Loan becomes a Corrected Mortgage Loan (or, with respect to
the 2006-C28 Serviced Mortgage Loan, a "corrected mortgage loan" under the
2006-C28 Pooling and Servicing Agreement) and (ii) the amount of such Advance
(and any interest thereon) becomes an obligation of the Mortgagor to pay such
amount over a period of time rather than immediately or on the next Due Date
under the terms of the modified loan documents.

            "Workout Fee": With respect to each Corrected Mortgage Loan, the fee
designated as such and payable to the Special Servicer pursuant to the second
paragraph of Section 3.11(c).

            "Workout Fee Rate": With respect to each Corrected Mortgage Loan,
1.00%.

            "Yield Maintenance Charge": Payments paid or payable, as the context
requires, on a Mortgage Loan as the result of a Principal Prepayment thereon,
not otherwise due thereon in respect of principal or interest, which have been
calculated (based on Scheduled Payments on such Mortgage Loan) to compensate the
holder for reinvestment losses based on the value of an interest rate index at
or near the time of prepayment. Any other prepayment premiums, penalties and
fees not so calculated will not be considered "Yield Maintenance Charges." In
the event that a Yield Maintenance Charge shall become due for any particular
Mortgage Loan, the Master Servicer shall be required to follow the terms and
provisions contained in the applicable Mortgage Note; provided, however, in the
event the particular Mortgage Note shall not specify the U.S. Treasuries which
shall be used in determining the discount rate or the reinvestment yield to be
applied in such calculation, the Master Servicer shall be required to use those
U.S. Treasuries having maturity dates most closely approximating the maturity of
such Mortgage Loan. Accordingly if either no U.S. Treasury issue, or more than
one U.S. Treasury issue, shall coincide with the term over which the Yield
Maintenance Charge shall be calculated (which depending on the applicable
Mortgage Note is based on the remaining average life of the Mortgage Loan or the
actual term remaining through the Maturity Date), the Master Servicer shall use
the U.S. Treasury whose reinvestment yield is the lowest, with such yield being
based on the bid price for such issue as published in The Wall Street Journal on
the date that is fourteen (14) days prior to the date that the Yield Maintenance
Charge shall become due and payable (or, if such bid price is not published on
that date, the next preceding date on which such bid price is so published) and
converted to a monthly compounded nominal yield. The monthly compounded nominal
yield ("MEY") is derived from the reinvestment yield or discount rate and shall
be defined as MEY = (12X {(1+"BEY"/2)^1/6}-1) where BEY is defined as the U.S.
Treasury Reinvestment Yield which is in decimal form and not in percentage, and
1/6 is the exponential power to which a portion of the equation is raised. For
example, using a BEY of 5.50%, the MEY = (12 X {(1+ 0.055/2)^0.16667}-1) where
0.055 is the decimal version of the percentage 5.50% and 0.16667 is the decimal
version of the exponential power. The MEY in the above calculation is 5.44%.

                                   ARTICLE II

                  CONVEYANCE OF MORTGAGE LOANS; REPRESENTATIONS
                AND WARRANTIES; ORIGINAL ISSUANCE OF CERTIFICATES

            Section 2.01. Conveyance of Mortgage Loans.

            (a) The Depositor, concurrently with the execution and delivery
hereof, does hereby assign, sell, transfer, set over and otherwise convey to the
Trustee, in trust, without recourse, for the benefit of the Certificateholders
(and for the benefit of the other parties to this Agreement as their respective
interests may appear) all the right, title and interest of the Depositor, in, to
and under (i) the Mortgage Loans and all documents included in the related
Mortgage Files and Servicing Files, (ii) the rights of the Depositor under
Sections 2, 3, 9, 10, 11, 12, 13, 14, 16, 17, 18 and 19 of each of the Mortgage
Loan Purchase Agreements, and (iii) all other assets included or to be included
in the Trust Fund. Such assignment includes all interest and principal received
or receivable on or with respect to the Mortgage Loans and due after the Cut-Off
Date. The transfer of the Mortgage Loans and the related rights and property
accomplished hereby is absolute and, notwithstanding Section 11.07, is intended
by the parties to constitute a sale.

            (b) In connection with the Depositor's assignment pursuant to
Section 2.01(a) above the Depositor shall direct, and hereby represents and
warrants that it has directed, each Mortgage Loan Seller pursuant to the
applicable Mortgage Loan Purchase Agreement, to deliver to and deposit with, or
cause to be delivered to and deposited with, the Trustee or a Custodian
appointed thereby (with a copy to the Master Servicer and Special Servicer), on
or before the Closing Date, the Mortgage File for each Mortgage Loan so assigned
and the Servicing File to the Master Servicer. The Special Servicer may request
the Master Servicer to deliver a copy of the Servicing File for any Mortgage
Loan (other than a Specially Serviced Mortgage Loan, which will not be at the
expense of the Special Servicer) at the expense of the Special Servicer. None of
the Trustee, any Custodian, the Master Servicer or the Special Servicer shall be
liable for any failure by any Mortgage Loan Seller or the Depositor to comply
with the document delivery requirements of the applicable Mortgage Loan Purchase
Agreement and this Section 2.01(b).

            (c) If any Mortgage Loan Seller cannot deliver, or cause to be
delivered, on the Closing Date, as to any Mortgage Loan, any of the documents
and/or instruments referred to in clauses (ii), (iii), (vi) (if recorded) and
(viii) of the definition of "Mortgage File" (or, with respect to the 2006-C28
Serviced Mortgage Loan, a photocopy thereof), 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, the delivery
requirements of the related Mortgage Loan Purchase Agreement and Section 2.01(b)
shall be deemed to have been satisfied as to such non-delivered document or
instrument, and such non-delivered document or instrument shall be deemed to
have been included in the Mortgage File; provided that a photocopy of such
non-delivered document or instrument (certified by the applicable Mortgage Loan
Seller to be a true and complete copy of the original thereof submitted for
recording) is delivered to the Trustee or a Custodian appointed thereby on or
before the Closing Date, and either the original of such non-delivered document
or instrument, or a photocopy thereof, with evidence of recording thereon, is
delivered to the Trustee or such Custodian within 120 days of the Closing Date
(or within such longer period after the Closing Date as the Trustee may consent
to, which consent shall not be unreasonably withheld so long as the applicable
Mortgage Loan Seller is, in good faith, attempting to obtain from the
appropriate county recorder's office such original or photocopy). If the
applicable Mortgage Loan Seller cannot deliver, or cause to be delivered, as to
any Mortgage Loan, any of the documents and/or instruments referred to in
clauses (ii), (iii), (vi) (if recorded) and (viii) of the definition of
"Mortgage File" (or, with respect to the 2006-C28 Serviced Mortgage Loan, a
photocopy thereof) with evidence of recording thereon, for any other reason,
including, without limitation, that such non-delivered document or instrument
has been lost, the delivery requirements of the applicable Mortgage Loan
Purchase Agreement and Section 2.01(b) shall be deemed to have been satisfied as
to such non-delivered document or instrument and such non-delivered document or
instrument shall be deemed to have been included in the Mortgage File; provided
that a photocopy of such non-delivered document or instrument (with evidence of
recording thereon) is delivered to the Trustee or a Custodian appointed thereby
on or before the Closing Date.

            If, on the Closing Date as to any Mortgage Loan, the applicable
Mortgage Loan Seller does not deliver in complete and recordable form any one of
the assignments in favor of the Trustee referred to in clause (iv) or (v) of the
definition of "Mortgage File" (or, with respect to the 2006-C28 Serviced
Mortgage Loan, a photocopy thereof), the applicable Mortgage Loan Seller may
provisionally satisfy the delivery requirements of the related Mortgage Loan
Purchase Agreement and Section 2.01(b) by delivering with respect to such
Mortgage Loan on the Closing Date an omnibus assignment of such Mortgage Loan;
provided that all required original assignments with respect to such Mortgage
Loan in fully complete and recordable form shall be delivered to the Trustee or
its Custodian within 120 days of the Closing Date (or within such longer period
as the Trustee in its discretion may permit).

            (d) The Trustee shall, for a fee paid to the Trustee by the
Depositor on the Closing Date as to each Mortgage Loan (other than the 2006-C28
Serviced Mortgage Loan) promptly (and in any event within 90 days following the
latest of (i) the Closing Date, (ii) the delivery of all assignments and UCC
Financing Statements to the Trustee and (iii) the date on which the Trustee
receives, with respect to the original recorded or filed documents relating to
such assignments and UCC Financing Statements, all necessary recording and
filing information required for the recording or filing of such assignments and
UCC Financing Statements) cause to be submitted for recording or filing, as the
case may be, in the appropriate public office for real property records or UCC
Financing Statements, as appropriate and to the extent timely delivered to the
Trustee in final, recordable form, each assignment of Mortgage, assignment of
Assignment of Leases and any other recordable documents (to the extent the
Trustee has actual knowledge that such documents are to be recorded) relating to
each such Mortgage Loan, in favor of the Trustee referred to in clause (iv)(a),
(b) and (c), respectively, of the definition of "Mortgage File" and each UCC-2
and UCC-3 assignment in favor of the Trustee and so delivered to the Trustee and
referred to in clause (viii) of the definition of "Mortgage File." The
applicable Mortgage Loan Seller shall reimburse the Trustee for all reasonable
costs and expenses incurred for recording any documents described in clause
(iv)(c) of the definition of "Mortgage File." Each such assignment, UCC-2 and
UCC-3 shall reflect that the recorded original should be returned by the public
recording office to the Trustee or its designee following recording, and each
such UCC-2 and UCC-3 assignment shall reflect that the file copy thereof should
be returned to the Trustee or its designee following filing; provided that in
those instances where the public recording office retains the original
assignment of Mortgage or assignment of Assignment of Leases, the Trustee shall
obtain therefrom a certified copy of the recorded original, at the expense of
the Depositor. If any such document or instrument is lost or returned unrecorded
or unfiled, as the case may be, because of a defect therein, the Trustee shall
direct the related Mortgage Loan Seller pursuant to the applicable Mortgage Loan
Purchase Agreement to promptly prepare or cause to be prepared a substitute
therefor or cure such defect, as the case may be, and thereafter the Trustee
shall upon receipt thereof cause the same to be duly recorded or filed, as
appropriate. Upon request, the Trustee shall forward to the Master Servicer a
copy of each of the aforementioned recorded assignments following the Trustee's
receipt thereof, to the extent not previously provided.

            (e) All documents and records in the Servicing File in possession of
the Depositor or the Mortgage Loan Sellers (except attorney client privileged
communications, draft documents and any documents or materials prepared by the
Mortgage Loan Sellers or their Affiliates for internal uses, including, without
limitation, internal correspondence and credit analysis of the Mortgage Loan
Sellers) that relate to the Mortgage Loans (other than the 2006-C28 Serviced
Mortgage Loan) and that are not required to be a part of a Mortgage File in
accordance with the definition thereof (including any original letters of
credit), together with all Escrow Payments and Reserve Accounts in the
possession thereof, shall be delivered to the Master Servicer or such other
Person as may be directed by the Master Servicer (at the expense of the
applicable Mortgage Loan Seller) on or before the Closing Date and shall be held
by the Master Servicer on behalf of the Trustee in trust for the benefit of the
Certificateholders; provided, however, the Master Servicer shall have no
responsibility for holding documents created or maintained by the Special
Servicer hereunder and not delivered to the Master Servicer.

            (f) In connection with the Depositor's assignment pursuant to
Section 2.01(a) above, the Depositor shall deliver to the Custodian and the
Master Servicer on or before the Closing Date and hereby represents and warrants
that it has delivered a copy of a fully executed counterpart of each Mortgage
Loan Purchase Agreement, as in full force and effect on the Closing Date.

            Section 2.02. Acceptance of the Trust Fund by Trustee.

            (a) The Trustee, by its execution and delivery of this Agreement,
acknowledges receipt of the Depositor's assignment to it of the Depositor's
right, title and interest in the assets that constitute the Trust Fund, and
further acknowledges receipt by it or a Custodian on its behalf, subject to the
provisos in the definition of "Mortgage File" and the provisions of Section 2.01
and subject to the further limitations on review provided for in Section 2.02(b)
and the exceptions noted on the schedule of exceptions of (i) the Mortgage File
delivered to it for each Mortgage Loan and (ii) a copy of a fully executed
counterpart of each Mortgage Loan Purchase Agreement, all in good faith and
without notice of any adverse claim, and declares that it or a Custodian on its
behalf holds and will hold such documents and the other documents received by it
that constitute portions of the Mortgage Files, and that it holds and will hold
the Mortgage Loans and other assets included in the Trust Fund, in trust for the
exclusive use and benefit of all present and future Certificateholders and, with
respect to any original document in the Mortgage File for a Loan Pair, any
present or future Companion Holders. The Trustee hereby certifies to each of the
Depositor, the Master Servicer, the Special Servicer and each Mortgage Loan
Seller that, except as identified in the schedule of exceptions, which is
attached hereto as Exhibit C-1 without regard to the proviso in the definition
of "Mortgage File," each of the original executed Mortgage Notes (or lost note
affidavit), the Mortgage (or an executed copy thereof), the lender's title
policy (original or copy or marked-up title commitment marked as binding and
countersigned by the title company or its authorized agent or an agreement to
provide the same pursuant to binding escrow instructions executed by an
authorized representative of the title company), a copy of any related Ground
Leases, the original (or copy if the original has been delivered to the Master
Servicer) of any related letters of credit (and the related transfer or
assignment documents, if applicable), as described in clauses (i), (ii), (vii),
(ix)(A) and (xii), respectively, of the definition of Mortgage File are in its
possession.

            With respect to the schedule of exceptions described in the
preceding paragraph, within 15 Business Days (or, in the Controlling Class
Representative's reasonable discretion, 30 Business Days) of the Closing Date,
with respect to the documents specified in clauses (i), (ii), (vii), (ix)
(solely with respect to Ground Leases) and (xii) of the definition of Mortgage
File, the related Mortgage Loan Seller shall cure any material exception listed
therein (for the avoidance of doubt, any deficiencies with respect to the
documents specified in clause (ii) resulting solely from a delay in the return
of the related documents from the applicable recording office, shall be cured in
the time and manner described in Section 2.01(c)). If such exception is not so
cured, the related Mortgage Loan Seller shall either (1) repurchase the related
Mortgage Loan, (2) with respect to exceptions relating to clause (xii) of the
definition of "Mortgage File", deposit with the Paying Agent (who shall promptly
notify the Master Servicer thereof) an amount, to be held in a Special Reserve
Account, equal to the amount of the undelivered letter of credit (in the
alternative, the related Mortgage Loan Seller may deliver to the Paying Agent,
with a certified copy to the Master Servicer and Trustee, a letter of credit for
the benefit of the Master Servicer on behalf of the Trustee and upon the same
terms and conditions as the undelivered letter of credit) which the Master
Servicer on behalf of the Trustee may use (or draw upon, as the case may be)
under the same circumstances and conditions as the Master Servicer would have
been entitled to draw on the undelivered letter of credit, or (3) with respect
to any exceptions relating to clauses (i), (ii) and (vii), deposit with the
Paying Agent on behalf of the Trustee an amount, to be held in trust in a
Special Reserve Account, equal to 25% of the Stated Principal Balance of the
related Mortgage Loan. Any letter of credit or funds deposited pursuant to
clauses (2) and (3) shall be held pursuant to the related Mortgage Loan Purchase
Agreement by the Paying Agent until the earlier of (x) the date on which the
Master Servicer certifies to the Trustee and the Controlling Class
Representative that such exception has been cured (or the Trustee certifies the
same to the Controlling Class Representative), at which time such funds or
letter of credit, as applicable, shall be returned to the related Mortgage Loan
Seller and (y) 30 Business Days or, if the Controlling Class Representative
extends the cure period, 45 Business Days after the Closing Date; provided,
however, if such exception is not cured within such 30 Business Days or 45
Business Days, as the case may be, (A) in the case of clause (2), the Paying
Agent shall retain such funds on deposit in the related Special Reserve Account,
or (B) in the case of clause (3), the related Mortgage Loan Seller shall
repurchase the related Mortgage Loan in accordance with the terms and conditions
of Section 2.03(b) or the related Mortgage Loan Purchase Agreement, at which
time such funds shall be applied to the Purchase Price of the related Mortgage
Loan.

            (b) In addition, within 90 days after the Closing Date (and if any
exceptions are noted, a schedule of exceptions again every 90 days thereafter
until the second anniversary of the Closing Date, and a schedule of exceptions
every 180 days thereafter until the fifth anniversary of the Closing Date, and
thereafter upon request by any party hereto, any Mortgage Loan Seller or the
Majority Subordinate Certificateholder), the Trustee or the Custodian on its
behalf will review the Mortgage Files and certify (in a certificate
substantially in the form of Exhibit C-2) to each of the Depositor, the Master
Servicer, the Special Servicer and each Mortgage Loan Seller (with copies to the
Majority Subordinate Certificateholder) that, with respect to each Mortgage Loan
(and with respect to the 2006-C28 Serviced Mortgage Loan and their related
Companion Loans, only those items required pursuant to the definition of
"Mortgage File") listed in the Mortgage Loan Schedule, except as specifically
identified in the schedule of exceptions annexed thereto, (i) without regard to
the proviso in the definition of "Mortgage File," all documents specified in
clauses (i), (ii), (iv)(a), (v) and (vii), and to the extent provided in the
related Mortgage File and actually known by a Responsible Officer of the Trustee
to be required, clauses (iii), (iv)(b), (iv)(c), (vi), (viii) and (ix) through
and including (xv) of the definition of "Mortgage File" are in its possession,
(ii) all documents delivered or caused to be delivered by the applicable
Mortgage Loan Seller constituting the related Mortgage File have been reviewed
by it and appear regular on their face and appear to relate to such Mortgage
Loan, (iii) based on such examination and only as to the foregoing documents,
the information set forth in the Mortgage Loan Schedule for such Mortgage Loan
with respect to the items specified in clauses (v) and (vi)(C) of the definition
of "Mortgage Loan Schedule" is correct and (iv) solely with respect to the
Companion Loans, all documents specified in clause (xvi) of the definition of
Mortgage File are in its possession. Further, with respect to the documents
described in clause (viii) of the definition of Mortgage File, the Trustee may
assume, for purposes of the certification delivered in this Section 2.02(b) and
for purposes of determining (subject to the proviso at the end of this sentence)
where to file UCC Financing Statements, that the related Mortgage File should
include one state level UCC Financing Statement filing in the state of
incorporation of the Mortgagor for each Mortgaged Property (or with respect to
any Mortgage Loan that has two or more Mortgagors, for each Mortgagor);
provided, however, to the extent the Trustee has actual knowledge or is notified
of any fixture or real property UCC Financing Statements filed in the county of
the state where the related Mortgaged Property is located, the Trustee shall
file an assignment to the Trust Fund with respect to such UCC Financing
Statements in the appropriate jurisdiction under the UCC at the expense of the
related Mortgage Loan Seller. The UCC Financing Statements to be assigned to the
Trust Fund pursuant to Section 2.01(d) will be delivered by the related Mortgage
Loan Seller to the Trustee on the new national forms, in recordable form and
completed pursuant to Revised Article IX of the UCC. The Trustee will submit
such UCC Financing Statements for filing in the state of incorporation of the
related Mortgagor as so indicated on the documents provided.

            (c) None of the Trustee, the Master Servicer, the Special Servicer
or any Custodian is under any duty or obligation to inspect, review or examine
any of the documents, instruments, certificates or other papers relating to the
Mortgage Loans delivered to it to determine that the same are valid, legal,
effective, genuine, enforceable, in recordable form, sufficient or appropriate
for the represented purpose or that they are other than what they purport to be
on their face.

            (d) The Trustee may establish a Special Reserve Account which shall
be an Eligible Account, and the Trustee or its designee shall deposit any amount
required to be deposited in a Special Reserve Account within 1 Business Day of
receipt. The related Mortgage Loan Seller may direct the Trustee to invest or
cause the investment of the funds deposited in the Special Reserve Account in
Permitted Investments that bear interest or are sold at a discount and that
mature, unless payable on demand, no later than the Business Day prior to the
next P&I Advance Date. The Trustee shall act upon the written instructions of
the related Mortgage Loan Seller with respect to the investment of the funds in
the Special Reserve Account in such Permitted Investments; provided that in the
absence of appropriate and timely written instructions from the related Mortgage
Loan Seller, the Trustee shall not have any obligation to invest or direct the
investment funds in such Special Reserve Account. All income and gain realized
from the investment of funds deposited in such Special Reserve Account shall be
for the benefit of the related Mortgage Loan Seller and shall be withdrawn by
the Trustee or its designees and remitted to the related Mortgage Loan Seller on
each P&I Advance Date (net of any losses incurred), and the related Mortgage
Loan Seller shall remit to the Trustee from the related Mortgage Loan Seller's
own funds for deposit into such Special Reserve Account the amount of any Net
Investment Loss (net of Net Investment Earnings) in respect of such Permitted
Investments immediately upon realization of such Net Investment Losses and
receipt of written notice thereof from the Trustee; provided that the related
Mortgage Loan Seller shall not be required to deposit any loss on an investment
of funds in the Special Reserve Account if such loss is incurred solely as a
result of the insolvency of the federal or state chartered depository
institution or trust company that holds such Special Reserve Account; provided
that such depository institution is not the same entity as such Mortgage Loan
Seller. The Special Reserve Account shall be considered an "outside reserve
fund" within the meaning of the REMIC Provisions, and such Special Reserve
Account (or any reimbursement from REMIC I or REMIC II with respect thereto)
will be beneficially owned by the related Mortgage Loan Seller, who shall be
taxable on all income, if any, with respect thereto.

            (e) With respect to exceptions related to clause (xii) of the
definition of "Mortgage File" and any cash or substitute letters of credit held
by the Trustee in the Special Reserve Account from time to time, if
circumstances arise in servicing the related Mortgage Loan such that the Master
Servicer or Special Servicer, as the case may be, is entitled to draw upon the
undelivered letter of credit, the Master Servicer or Special Servicer, as the
case may be, shall present an Officer's Certificate to the Trustee requesting
that the cash or substitute letter of credit held in the Special Reserve
Account, be remitted or released, as the case may be, and the Trustee shall
remit such cash or release such substitute letter of credit within 1 Business
Day of receipt of such Officer's Certificate. Upon release of any substitute
letter of credit to the Master Servicer or Special Servicer, the Trustee shall
no longer be responsible for such letter of credit.

            Section 2.03. Mortgage Loan Seller's Repurchase or Substitution of
Mortgage Loans for Document Defects and Breaches of Representations and
Warranties.

            (a) If any party hereto discovers or receives notice that any
document or documents constituting a part of a Mortgage File (including that
part relating to the 2006-C28 Serviced Mortgage Loan being held by the 2006-C28
Trustee) has not been properly executed, is missing (beyond the time period
required for its delivery hereunder), contains information that does not conform
in any material respect with the corresponding information set forth in the
Mortgage Loan Schedule, or does not appear to be regular on its face (each a
"Document Defect"), or discovers or receives notice of a breach of any
representation or warranty relating to any Mortgage Loan set forth in the
applicable Mortgage Loan Purchase Agreement (a "Breach"), the party discovering
such Document Defect or Breach shall give written notice (which notice, in
respect of any obligation of the Trustee to provide notice of a Document Defect,
shall be deemed given by the delivery of the certificate as required by Section
2.02(a)) to the other parties hereto, to the Majority Subordinate
Certificateholder and to the Rating Agencies of such Document Defect or Breach.
Promptly upon becoming aware of any Document Defect or Breach (including through
such written notice provided by any party hereto or the Majority Subordinate
Certificateholder as provided above), if any party hereto determines that such
Document Defect or Breach materially and adversely affects the value of the
affected Mortgage Loan, the interest of the Trust Fund therein or the interests
of any Certificateholder, such party shall notify the Master Servicer of such
determination and promptly after receipt of such notice, the Master Servicer, or
with respect to a Specially Serviced Mortgage Loan, the Special Servicer, shall
request in writing (with a copy to the other parties hereto, the Majority
Subordinate Certificateholder, the Rating Agencies and the Controlling Class
Representative (if different from the Majority Subordinate Certificateholder))
that the applicable Mortgage Loan Seller, not later than 90 days from receipt of
such written request (or, in the case of a Document Defect or Breach relating to
a Mortgage Loan not being a "qualified mortgage" within the meaning of the REMIC
Provisions, not later than 90 days after any party to this Agreement discovers
such Document Defect or Breach) (i) cure such Document Defect or Breach, as the
case may be, in accordance with Section 3(c) of the applicable Mortgage Loan
Purchase Agreement, (ii) repurchase the affected Mortgage Loan (other than with
respect to the 2006-C28 Serviced Mortgage Loan, for which no substitution shall
be permitted) in accordance with Section 3(c) of the related Mortgage Loan
Purchase Agreement, or (iii) within two years of the Closing Date, substitute a
Qualified Substitute Mortgage Loan (other than with respect to the 2006-C28
Serviced Mortgage Loan, for which no substitution shall be permitted) for such
affected Mortgage Loan and pay the Master Servicer for deposit into the
Certificate Account any Substitution Shortfall Amount in connection therewith in
accordance with Sections 3(c) and 3(d) of the applicable Mortgage Loan Purchase
Agreement; provided, however, if such Document Defect or Breach is capable of
being cured, but not within such 90 day period, such Document Defect or Breach
does not relate to the Mortgage Loan not being treated as a "qualified mortgage"
within the meaning of the REMIC Provisions, and the applicable Mortgage Loan
Seller has commenced and is diligently proceeding with the cure of such Document
Defect or Breach within such 90 day period, the applicable Mortgage Loan Seller
shall have an additional 90 days to complete such cure (or, failing such cure,
to repurchase the related Mortgage Loan); provided, further, with respect to
such additional 90 day period the applicable Mortgage Loan Seller shall have
delivered an Officer's Certificate to the Trustee setting forth what actions the
applicable Mortgage Loan Seller is pursuing in connection with the cure thereof
and stating that the applicable Mortgage Loan Seller anticipates such Document
Defect or Breach will be cured within the additional 90 day period; provided,
further, no Document Defect (other than with respect to a Mortgage Note,
Mortgage, title insurance policy, Ground Lease, any letter of credit, franchise
agreement or any comfort letter and comfort letter transfer documents
(collectively, the "Material Core Documents")) shall be considered to materially
and adversely affect the interests of any Certificateholder, the interest of the
Trust Fund therein or the value of the related Mortgage Loan unless the document
with respect to which the Document Defect exists is required in connection with
an imminent enforcement of the mortgagee's rights or remedies under the related
Mortgage Loan, defending any claim asserted by any Mortgagor or third party with
respect to the Mortgage Loan, establishing the validity or priority of any lien
on any collateral securing the Mortgage Loan or for any immediate significant
servicing obligations; provided, further, with respect to Document Defects which
materially and adversely affect the interest of any Certificateholder, the
interests of the Trust therein or the value of the related Mortgage Loan, other
than with respect to Document Defects relating to the Material Core Documents,
any applicable cure period following the initial 90 day cure period may be
extended by the Master Servicer or the Special Servicer if the document involved
is not needed imminently. Such extension will end upon 30 days notice of such
need as reasonably determined by the Master Servicer or Special Servicer (with a
possible 30 day extension if the Master Servicer or Special Servicer agrees that
the applicable Mortgage Loan Seller is diligently pursuing a cure). Pursuant to
the related Mortgage Loan Purchase Agreement, the related Mortgage Loan Seller
shall cure all Document Defects which materially and adversely affect the
interests of any Certificateholder, the interests of the Trust Fund therein or
the value of the related Mortgage Loan, regardless of the document involved, no
later than two years following the Closing Date; provided, however, the initial
90 day cure period referenced above shall not be reduced. For a period of two
years from the Closing Date, so long as there remains any Mortgage File as to
which there is any uncured Document Defect and so long as the applicable
Mortgage Loan Seller shall provide the Officer's Certificate pursuant to Section
3(c) of the applicable Mortgage Loan Purchase Agreement, the Trustee shall on a
quarterly basis prepare and deliver to the other parties a written report as to
the status of such uncured Document Defects as provided in this Section 2.03. If
the affected Mortgage Loan is to be repurchased or substituted, the Master
Servicer shall designate the Certificate Account as the account to which funds
in the amount of the Purchase Price or the Substitution Shortfall Amount, as
applicable, are to be wired. Any such repurchase or substitution of a Mortgage
Loan shall be on a whole loan, servicing released basis.

            If (i) any Mortgage Loan is required to be repurchased or
substituted for in the manner described in the immediately preceding paragraph,
(ii) such Mortgage Loan is a Crossed Loan, and (iii) the applicable Document
Defect or Breach does not constitute a Document Defect or Breach, as the case
may be, as to any other Crossed Loan in such Crossed Group (without regard to
this paragraph), then the applicable Document Defect or Breach, as the case may
be, will be deemed to constitute a Document Defect or Breach, as the case may
be, as to any other Crossed Loan in the Crossed Group for purposes of this
paragraph, and the related Mortgage Loan Seller will be required to repurchase
or substitute for such other Crossed Loan(s) in the related Crossed Group as
provided in the immediately preceding paragraph unless such other Crossed Loans
satisfy the Crossed Loan Repurchase Criteria and satisfy all other criteria for
substitution and repurchase of Mortgage Loans set forth herein. In the event
that the remaining Crossed Loans in such Crossed Group satisfy the
aforementioned criteria, the Mortgage Loan Seller may elect either to repurchase
or substitute for only the affected Crossed Loan as to which the related Breach
or Document Defect exists or to repurchase or substitute for all of the Crossed
Loans in the related Crossed Group. Any reserve or other cash collateral or
letters of credit securing the Crossed Loans shall be allocated between such
Mortgage Loans in accordance with the Mortgage Loan documents. All other terms
of the Mortgage Loans shall remain in full force and effect without any
modification thereof.

            With respect to any Crossed Loan, to the extent that the applicable
Mortgage Loan Seller is required to repurchase or substitute for such Mortgage
Loan in the manner prescribed in this Section 2.03(a) while the Trustee
continues to hold any other Crossed Loans in the related Crossed Group, the
applicable Mortgage Loan Seller and the Depositor will, as set forth in the
related Mortgage Loan Purchase Agreement (any expenses incurred by the Trustee
or the Master Servicer in connection with any modification or accommodation
referred to in such Mortgage Loan Purchase Agreement (including but not limited
to reasonable attorney fees) shall be paid by the related Mortgage Loan Seller),
forbear from enforcing any remedies against the other's Primary Collateral but
each will be permitted to exercise remedies against the Primary Collateral
securing its respective Mortgage Loans, including with respect to the Trustee,
the Primary Collateral securing Mortgage Loans still held by the Trustee.

            (b) In connection with any repurchase or substitution of one or more
Mortgage Loans contemplated by this Section 2.03, upon receipt of a Request for
Release (in the form of Exhibit D-1 attached hereto) of a Servicing Officer of
the Master Servicer certifying as to the receipt of the applicable Purchase
Price(s) in the Certificate Account (in the case of any such repurchase) or the
receipt of the applicable Substitution Shortfall Amount(s) in the Certificate
Account and upon the delivery of the Mortgage File(s) and the Servicing File(s)
for the related Qualified Substitute Mortgage Loan(s) to the Custodian and the
Master Servicer, respectively (in the case of any such substitution), (i) the
Trustee shall execute and deliver such endorsements and assignments as are
provided to it, in each case without recourse, representation or warranty, as
shall be necessary to vest in the applicable Mortgage Loan Seller the legal and
beneficial ownership of each repurchased Mortgage Loan or substituted Mortgage
Loan, as applicable, being released pursuant to this Section 2.03, and (ii) the
Trustee, the Custodian, the Master Servicer, and the Special Servicer shall each
tender to the applicable Mortgage Loan Seller, upon delivery to each of them of
a receipt executed by the applicable Mortgage Loan Seller, all portions of the
Mortgage File and other documents pertaining to each such Mortgage Loan
possessed by it and the Master Servicer and the Special Servicer shall release
to the applicable Mortgage Loan Seller any Escrow Payments and Reserve Funds
held by it in respect of such repurchased or substituted Mortgage Loan; provided
that such tender by the Trustee or the Custodian shall be conditioned upon its
receipt from the Master Servicer or the Special Servicer of a Request for
Release. Thereafter, the Trustee, the Custodian, the Master Servicer and the
Special Servicer shall have no further responsibility with regard to the related
repurchased Mortgage Loan(s) or deleted Mortgage Loan(s), as applicable, and the
related Mortgage File(s) and Servicing File(s). The Master Servicer shall, and
is hereby authorized and empowered by the Trustee to, prepare, execute and
deliver in its own name, on behalf of the Certificateholders and the Trustee or
any of them, the endorsements and assignments contemplated by this Section 2.03,
and the Trustee shall execute any powers of attorney that are prepared and
delivered to the Trustee by the Master Servicer and are necessary to permit the
Master Servicer to do so. The Master Servicer shall indemnify the Trustee for
any reasonable costs, fees, liabilities and expenses incurred by the Trustee in
connection with the negligent or willful misuse by the Master Servicer of such
powers of attorney. At the time a substitution is made, the related Mortgage
Loan Purchase Agreement will provide that the Mortgage Loan Seller shall deliver
the related Mortgage File to the Trustee and certify that the substitute
Mortgage Loan is a Qualified Substitute Mortgage Loan.

            (c) No substitution of a Qualified Substitute Mortgage Loan or Loans
may be made in any calendar month after the Determination Date for such month.
Periodic Payments due with respect to any Qualified Substitute Mortgage Loan
after the related date of substitution shall be part of REMIC I. Periodic
Payments due with respect to any Qualified Substitute Mortgage Loan on or prior
to the related date of substitution shall not be part of the Trust Fund or REMIC
I and will (to the extent received by the Master Servicer) be remitted by the
Master Servicer to the applicable Mortgage Loan Seller promptly following
receipt.

            (d) Each Mortgage Loan Purchase Agreement provides the sole remedies
available to the Certificateholders, or the Trustee on behalf of the
Certificateholders, respecting any Document Defect or Breach with respect to the
Mortgage Loans purchased by the Depositor thereunder.

            (e) The Trustee with the cooperation of the Special Servicer (in the
case of Specially Serviced Mortgage Loans) shall, for the benefit of the
Certificateholders, enforce the obligations of the Mortgage Loan Sellers under
Section 3 of the applicable Mortgage Loan Purchase Agreement. The Trustee shall
include in the immediately succeeding Distribution Date Statement a notification
to the recipients of such Distribution Date Statement of any repurchase or
substitution of a Mortgage Loan required pursuant to the terms of the related
Mortgage Loan Purchase Agreement.

            (f) Notwithstanding the foregoing, if there exists a Breach relating
to whether or not the Mortgage Loan documents or any particular Mortgage Loan
document requires the related Mortgagor to bear the costs and expenses
associated with any particular action or matter under such Mortgage Loan
document(s) with respect to matters described in Representations 23 and 43 of
the applicable Mortgage Loan Purchase Agreement, then the Master Servicer shall
(and the Special Servicer may) direct the related Mortgage Loan Seller in
writing to wire transfer to the Certificate Account, within 90 days of such
Mortgage Loan Seller's receipt of such direction, the amount of any such costs
and expenses borne by the Trust Fund that are the basis of such Breach. Upon its
making such deposit, the related Mortgage Loan Seller shall be deemed to have
cured such Breach in all respects. Provided such payment is made in full, this
paragraph describes the sole remedy available to the Certificateholders, the
Master Servicer, the Special Servicer, and the Trustee on their behalf regarding
any such Breach and the related Mortgage Loan Seller shall not be obligated to
repurchase the affected Mortgage Loan on account of such Breach or otherwise
cure such Breach. Amounts deposited in the Certificate Account pursuant to this
paragraph shall be used for the reimbursement or payment of costs related to
such Breach.

            (g) With respect to any Mortgage Loan which has become a Defaulted
Mortgage Loan under this Agreement or with respect to which the related
Mortgaged Property has been foreclosed and which is the subject of a repurchase
claim under the related Mortgage Loan Purchase Agreement, the Special Servicer,
with the consent of the Controlling Class Representative, shall notify the
related Mortgage Loan Seller in writing of its intention to sell such Defaulted
Mortgage Loan or REO Property at least 45 days prior to any such action. The
related Mortgage Loan Seller shall have 10 Business Days to determine whether or
not to consent to such sale. If the related Mortgage Loan Seller consents to
such sale or a court of competent jurisdiction determines that the related
Mortgage Loan Seller was liable under the related Mortgage Loan Purchase
Agreement to repurchase such Defaulted Mortgage Loan or REO Property then such
Mortgage Loan Seller shall be liable for the difference (if any) between the
price of the Mortgage Loan or REO Property as sold and the price which the
related Mortgage Loan Seller would have to pay if it repurchased such Defaulted
Mortgage Loan or REO Property. If the related Mortgage Loan Seller does not
consent to such sale, the Special Servicer shall contract with a Determination
Party as to the merits of such sale. If the related Determination Party
determines that such sale is in accordance with the Servicing Standard and the
provisions of this Agreement with respect to the sale of Defaulted Mortgage
Loans or REO Properties and subsequent to such a sale, a court of competent
jurisdiction determines that related Mortgage Loan Seller was liable under the
related Mortgage Loan Purchase Agreement and required to repurchase such
Defaulted Mortgage Loan or REO Property in accordance with the terms thereof,
then pursuant to the related Mortgage Loan Purchase Agreement, the related
Mortgage Loan Seller shall remit to the Special Servicer an amount equal to the
difference (if any) between the proceeds of the related action and the price at
which the related Mortgage Loan Seller would have been obligated to pay had the
related Mortgage Loan Seller repurchased such Defaulted Mortgage Loan or REO
Property in accordance with the terms of the related Mortgage Loan Purchase
Agreement, including the costs related to contracting with the related
Determination Party. If the related Determination Party determines that the sale
of the related Defaulted Mortgage Loan or REO Property is not in accordance with
the Servicing Standard and the provision of this Agreement with respect to the
sale of Defaulted Mortgage Loans or REO Properties and the Special Servicer
subsequently sells such Mortgage Loan or REO Property, then the related Mortgage
Loan Seller shall not be liable for any such difference (nor any cost of
contracting with the Determination Party). In the event that (a) the Special
Servicer ignores the determination of the Determination Party and sells the
related Defaulted Mortgage Loan or REO Property and/or (b) a court of competent
jurisdiction determines that the related Mortgage Loan Seller is not obligated
to repurchase the related Defaulted Mortgage or REO Property, the costs of
contracting with the Determination Party will constitute an Additional Trust
Fund Expense. If the related Mortgage Loan Seller is required pursuant to the
related Mortgage Loan Purchase Agreement to remit the amounts set forth in this
Section 2.03(g), the Special Servicer shall designate the Certificate Account as
the account to which such funds shall be wired.

            Section 2.04. Representations and Warranties of Depositor.

            (a) The Depositor hereby represents and warrants to the Trustee, for
      its own benefit and the benefit of the Certificateholders, and to the
      Master Servicer, the Paying Agent and the Special Servicer, as of the
      Closing Date, that:

            (i) The Depositor is a corporation duly organized, validly existing
      and in good standing under the laws of the State of North Carolina;

            (ii) The execution and delivery of this Agreement by the Depositor,
      and the performance and compliance with the terms of this Agreement by the
      Depositor, will not violate the Depositor's certificate of incorporation
      or bylaws or constitute a default (or an event which, with notice or lapse
      of time, or both, would constitute a default) under, or result in the
      breach of, any material agreement or other instrument to which it is a
      party or which is applicable to it or any of its assets;

            (iii) The Depositor has the full power and authority to enter into
      and consummate all transactions contemplated by this Agreement, has duly
      authorized the execution, delivery and performance of this Agreement, and
      has duly executed and delivered this Agreement;

            (iv) This Agreement, assuming due authorization, execution and
      delivery by each of the other parties hereto, constitutes a valid, legal
      and binding obligation of the Depositor, enforceable against the Depositor
      in accordance with the terms hereof, subject to (A) applicable bankruptcy,
      insolvency, reorganization, moratorium and other laws affecting the
      enforcement of creditors' rights generally, and (B) general principles of
      equity, regardless of whether such enforcement is considered in a
      proceeding in equity or at law;

            (v) The Depositor is not in violation of, and its execution and
      delivery of this Agreement and its performance and compliance with the
      terms of this Agreement will not constitute a violation of, any law, any
      order or decree of any court or arbiter, or any order, regulation or
      demand of any federal, state or local governmental or regulatory
      authority, which violation, in the Depositor's good faith and reasonable
      judgment, is likely to affect materially and adversely either the ability
      of the Depositor to perform its obligations under this Agreement or the
      financial condition of the Depositor;

            (vi) The transfer of the Mortgage Loans to the Trustee as
      contemplated herein requires no regulatory approval, other than any such
      approvals as have been obtained, and is not subject to any bulk transfer
      or similar law in effect in any applicable jurisdiction;

            (vii) No litigation is pending or, to the best of the Depositor's
      knowledge, threatened against the Depositor that, if determined adversely
      to the Depositor, would prohibit the Depositor from entering into this
      Agreement or that, in the Depositor's good faith and reasonable judgment,
      is likely to materially and adversely affect either the ability of the
      Depositor to perform its obligations under this Agreement or the financial
      condition of the Depositor;

            (viii) Immediately prior to the transfer of the Mortgage Loans to
      the Trust Fund pursuant to this Agreement, (A) the Depositor had good and
      marketable title to, and was the sole owner and holder of, each Mortgage
      Loan; and (B) the Depositor has full right and authority to sell, assign
      and transfer the Mortgage Loans and all servicing rights pertaining
      thereto; and

            (ix) The Depositor is transferring the Mortgage Loans to the Trust
      Fund free and clear of any liens, pledges, charges and security interests.

            (b) The representations and warranties of the Depositor set forth in
      Sections 2.04(a) and 8.17 shall survive the execution and delivery of this
      Agreement and shall inure to the benefit of the Persons for whose benefit
      they were made for so long as the Trust Fund remains in existence. Upon
      discovery by any party hereto of any breach of any of the foregoing
      representations and warranties, the party discovering such breach shall
      give prompt written notice thereof to the other parties.

            Section 2.05. Conveyance of Mortgage Loans; Acceptance of REMIC I
and Additional Interest Grantor Trust by Trustee.

            The Depositor, as of the Closing Date, and concurrently with the
execution and delivery of this Agreement, does hereby assign without recourse
all the right, title and interest of the Depositor in and to (a) the Mortgage
Loans (other than any Additional Interest related thereto) and the other
property comprising REMIC I to the Trustee for the benefit of the Holders of the
Class R I Certificates (in respect of the residual interest in REMIC I) and
REMIC II as the holder of the REMIC I Regular Interests and (b) the Additional
Interest and the other property comprising the Additional Interest Grantor Trust
to the Trustee for the benefit of the Holders of the Class Z Certificates. The
Trustee acknowledges the assignment to it of the Mortgage Loans and the other
property comprising REMIC I and the Additional Interest Grantor Trust, and
declares that it holds and will hold the same in trust for the exclusive use and
benefit of REMIC II as the holder of the REMIC I Regular Interests and present
and future holders of the Certificates (other than the Class Z Certificates)
and, as to the Additional Interest Grantor Trust, for the benefit of the Holders
of the Class Z Certificates.

            Section 2.06. Issuance of the REMIC I Regular Interests; Execution,
Authentication and Delivery of Class R-I Certificates.

            Concurrently with the assignment to the Trustee of the Mortgage
Loans (other than any Additional Interest related thereto) and in exchange
therefor, the Trustee acknowledges the issuance of the REMIC I Regular
Interests, to or upon the order of the Depositor and, pursuant to the written
request of the Depositor executed by an officer of the Depositor, has executed,
as the Certificate Registrar and the Authenticating Agent has authenticated and
delivered to or upon the order of the Depositor, the Class R-I Certificates.

            Section 2.07. Conveyance of REMIC I Regular Interests; Acceptance of
REMIC II by Trustee.

            The Depositor, as of the Closing Date, and concurrently with the
execution and delivery of this Agreement, does hereby assign without recourse
all the right, title and interest of the Depositor in and to the REMIC I Regular
Interests to the Trustee for the benefit of the respective Holders of the REMIC
II Certificates. The Trustee acknowledges the assignment to it of the REMIC I
Regular Interests and declares that it holds and will hold the same in trust for
the exclusive use and benefit of all present and future Holders of the REMIC II
Certificates.

            Section 2.08. Execution, Authentication and Delivery of REMIC II
Certificates.

            Concurrently with the assignment to the Trustee of the REMIC I
Regular Interests and in exchange therefor, and pursuant to the written request
of the Depositor, executed by an affiliate of the Depositor, the Trustee, as
Certificate Registrar, has executed, and the Trustee, as Authenticating Agent,
has authenticated and delivered to or upon the order of the Depositor, the REMIC
II Certificates in authorized denominations evidencing the entire beneficial
ownership of REMIC II. The rights of the holders of the respective Classes of
REMIC II Certificates to receive distributions from the proceeds of REMIC II in
respect of their REMIC II Certificates, and all ownership interests evidenced or
constituted by the respective Classes of REMIC II Certificates in such
distributions, shall be as set forth in this Agreement.

            Section 2.09. Execution, Authentication and Delivery of Class Z
Certificates.

            Concurrently with the assignment to the Trustee of the Additional
Interest, and in exchange therefor, the Trustee, pursuant to the written request
of the Depositor executed by an officer of the Depositor, has executed, as
Certificate Registrar, authenticated, as Authenticating Agent and delivered to
or upon the order of the Depositor, the Class Z Certificates.

                                   ARTICLE III

                 ADMINISTRATION AND SERVICING OF THE TRUST FUND

            Section 3.01. Administration of the Mortgage Loans.

            (a) Each of the Master Servicer and the Special Servicer shall
service and administer the Mortgage Loans (other than the 2006-C28 Serviced
Mortgage Loan) and Companion Loans (other than the Non-Serviced Companion Loans)
that each is obligated to service and administer pursuant to this Agreement on
behalf of the Trustee, for the benefit of the Certificateholders and in the case
of the Companion Loans, the related Companion Holder, in accordance with any and
all applicable laws, the terms of this Agreement (and, with respect to a Loan
Pair, the related Intercreditor Agreement), the terms of the respective Mortgage
Loans, and, if applicable, the Companion Loans and, to the extent consistent
with the foregoing, in accordance with the Servicing Standard. With respect to
any Loan Pair, in the event of a conflict between this Agreement and the related
Intercreditor Agreement, the Intercreditor Agreement will control; provided that
in no event shall the Master Servicer or Special Servicer take any action or
omit to take any action in accordance with the terms of any Intercreditor
Agreement that would cause such servicer to violate the Servicing Standard or
the REMIC Provisions. Without limiting the foregoing, and subject to Section
3.21, (i) the Master Servicer shall service and administer all Mortgage Loans
and the Companion Loans (other than the 2006-C28 Serviced Mortgage Loan and its
related Companion Loan) that are not Specially Serviced Mortgage Loans, and (ii)
the Special Servicer shall service and administer each Specially Serviced
Mortgage Loan (other than the 2006-C28 Serviced Mortgage Loan and its related
Companion Loan) and REO Property and shall render such services with respect to
all Mortgage Loans, Companion Loans and REO Properties as are specifically
provided for herein; provided that the Master Servicer shall continue to receive
payments, make all calculations, and prepare, or cause to be prepared, all
reports required hereunder with respect to the Specially Serviced Mortgage
Loans, except for the reports specified herein as prepared by the Special
Servicer, as if no Servicing Transfer Event had occurred and with respect to the
REO Properties (and the related REO Loans) as if no REO Acquisition had
occurred, and to render such incidental services with respect to such Specially
Serviced Mortgage Loans and REO Properties as are specifically provided for
herein; provided, further, however, the Master Servicer shall not be liable for
its failure to comply with such duties insofar as such failure results from a
failure by the Special Servicer to provide sufficient information to the Master
Servicer to comply with such duties or failure by the Special Servicer to
otherwise comply with its obligations hereunder; provided, further, the Special
Servicer shall not be liable for its failure to comply with such duties insofar
as such failure results from a failure by the Master Servicer to provide
sufficient information to the extent required herein to the Special Servicer to
comply with such duties or failure by the Master Servicer to otherwise comply
with its obligations hereunder. All references herein to the respective duties
of the Master Servicer and the Special Servicer, and to the areas in which they
may exercise discretion, shall be subject to Section 3.21.

            The parties hereto acknowledge that the 2006-C28 Serviced Mortgage
Loan and its related Companion Loans are being serviced and administered under
the 2006-C28 Pooling and Servicing Agreement. The Master Servicer, the Special
Servicer, the Trustee and the Paying Agent shall have no obligation or authority
(i) to service and administer the 2006-C28 Serviced Mortgage Loan or its related
Companion Loans (except for the limited duties with respect to the 2006-C28
Serviced Mortgage Loan expressly provided herein), (ii) to supervise the
2006-C28 Master Servicer, the 2006-C28 Special Servicer, the 2006-C28 Trustee or
the 2006-C28 Co-Trustee or (iii) to make Servicing Advances or P&I Advances
(except to the limited extent described in Section 4.03 with respect to P&I
Advances to be made by the Master Servicer or the Trustee on the 2006-C28
Serviced Mortgage Loan). In addition to any other obligations expressly set
forth herein by specific reference to the 2006-C28 Serviced Mortgage Loan, the
Master Servicer, the Special Servicer, the Trustee and the Paying Agent shall
have the following obligations with respect to the 2006-C28 Serviced Mortgage
Loan, as the case may be:

            (i) The Trustee and the Paying Agent shall have the obligations
      described under Section 2.02 with respect to the Mortgage File for the
      2006-C28 Serviced Mortgage Loan;

            (ii) Each of the Master Servicer, the Special Servicer and the
      Trustee shall have the obligations applicable to such party under Section
      2.03 with respect to the 2006-C28 Serviced Mortgage Loan;

            (iii) The Master Servicer shall have the obligations described under
      Sections 3.04 and 3.05 with respect to all amounts received from the
      2006-C28 Master Servicer with respect to the 2006-C28 Serviced Mortgage
      Loan;

            (iv) The Trustee shall have the obligations described under Section
      3.10 with respect to the Mortgage File for the 2006-C28 Serviced Mortgage
      Loan;

            (v) Upon receipt of information and reports on the 2006-C28 Serviced
      Mortgage Loan from the 2006-C28 Master Servicer, the Master Servicer shall
      include such information in the reports and notices required under Section
      3.12;

            (vi) The Master Servicer and the Paying Agent shall each have the
      obligations applicable to such party under Section 3.15 with respect to
      information and reports it has received regarding the 2006-C28 Serviced
      Mortgage Loan; and

            (vii) The Master Servicer shall have the obligations described under
      Section 3.19(a) with respect to any Prepayment Interest Shortfall on the
      2006-C28 Serviced Mortgage Loan.

            The obligation of the Master Servicer to provide information and
collections to the Paying Agent and the Certificateholders with respect to the
2006-C28 Serviced Mortgage Loan shall be dependent on its receipt of the
corresponding information and collections from the 2006-C28 Master Servicer or
the 2006-C28 Special Servicer. With respect to each of the Centro Syndicate 2
Pool Loan and the Centro International Wholesale Pool Loan, in the event that it
or any successor REO Loan is no longer part of the Mortgage Pool, then (upon
request) the Master Servicer and the Special Servicer will continue to service
and administer the related Loan Pair or any related REO Property, as and to the
extent contemplated by the related intercreditor agreement, until a replacement
servicing agreement is in place.

            (b) Subject to Section 3.01(a) and Section 6.11, the Master Servicer
and the Special Servicer each shall have full power and authority, acting alone,
to do or cause to be done any and all things in connection with such servicing
and administration which it may deem necessary or desirable. Without limiting
the generality of the foregoing, each of the Master Servicer and the Special
Servicer, in its own name, with respect to each of the Mortgage Loans and
Companion Loans it is obligated to service hereunder, is hereby authorized and
empowered by the Trustee and, pursuant to each Intercreditor Agreement, the
Companion Holders to execute and deliver, on behalf of the Certificateholders,
the Companion Holders and the Trustee or any of them, (i) any and all financing
statements, continuation statements and other documents or instruments necessary
to maintain the lien created by any Mortgage or other security document in the
related Mortgage File on the related Mortgaged Property and related collateral;
(ii) in accordance with the Servicing Standard and subject to Section 3.20 and
Section 6.11, any and all modifications, waivers, amendments or consents to or
with respect to any documents contained in the related Mortgage File; (iii) any
and all instruments of satisfaction or cancellation, or of partial or full
release, discharge, or assignment, and all other comparable instruments; and
(iv) pledge agreements and other defeasance documents in connection with a
defeasance contemplated pursuant to Section 3.20(h). Subject to Section 3.10,
the Trustee shall, at the written request of the Master Servicer or the Special
Servicer, promptly execute any limited powers of attorney and other documents
furnished by the Master Servicer or the Special Servicer that are necessary or
appropriate to enable them to carry out their servicing and administrative
duties hereunder; provided, however, the Trustee shall not be held liable for
any misuse of any such power of attorney by the Master Servicer or the Special
Servicer; provided, further, the Master Servicer and the Special Servicer shall
not, without the Trustee's written consent, (A) initiate any action in the
Trustee's name without indicating the Master Servicer's or Special Servicer's
representative capacity or (B) cause the Trustee to be registered to do business
in any state.

            (c) The relationship of each of the Master Servicer and the Special
Servicer to the Trustee under this Agreement is intended by the parties to be
that of an independent contractor and not that of a joint venture, partner or
agent. Unless the same Person acts as both Master Servicer and Special Servicer,
the Master Servicer shall not be responsible for the actions of or failure to
act by the Special Servicer and the Special Servicer shall not be responsible
for the actions of or the failure to act by the Master Servicer.

            (d) Notwithstanding anything herein to the contrary, in no event
shall the Master Servicer make a Servicing Advance with respect to any Companion
Loan to the extent the related Co-Lender Loan has been paid in full or is no
longer included in the Trust Fund.

            (e) Servicing and administration of each Companion Loan (other than
the Non-Serviced Companion Loans) shall continue hereunder for so long as the
corresponding Co-Lender Loan (other than the 2006-C28 Serviced Mortgage Loan) or
any related REO Property is part of the Trust Fund or for such longer period as
any amounts payable by the related Companion Holder to or for the benefit of the
Trust Fund or any party hereto in accordance with the related Intercreditor
Agreement remain due and owing; provided, however, if any Companion Loan (other
than the Non-Serviced Companion Loans) is securitized, the Master Servicer's
servicing obligations and duties with respect to the related Companion Loan
shall be limited to those obligations and duties described in the related
Intercreditor Agreement and this Agreement.

            Section 3.02. Collection of Mortgage Loan Payments.

            (a) Each of the Master Servicer or the Special Servicer shall
undertake reasonable efforts consistent with the Servicing Standard to collect
all payments required under the terms and provisions of the Mortgage Loans and
Companion Loans it is obligated to service hereunder and shall, to the extent
such procedures shall be consistent with this Agreement, follow such collection
procedures in accordance with the Servicing Standard; provided, however, nothing
herein shall be construed as an express or implied guarantee by the Master
Servicer or the Special Servicer of collectibility; provided, further, with
respect to the Mortgage Loans that have Anticipated Repayment Dates, so long as
the related Mortgagor is in compliance with each provision of the related
Mortgage Loan documents, the Master Servicer and Special Servicer (including the
Special Servicer in its capacity as a Certificateholder), shall not take any
enforcement action with respect to the failure of the related Mortgagor to make
any payment of Additional Interest or principal in excess of the principal
component of the constant Periodic Payment, other than requests for collection,
until the maturity date of the related Mortgage Loan; provided that the Master
Servicer or Special Servicer, as the case may be, may take action to enforce the
Trust Fund's right to apply excess cash flow to principal in accordance with the
terms of the Mortgage Loan documents. Consistent with the foregoing and subject
to Section 3.20, the Special Servicer, with regard to a Specially Serviced
Mortgage Loan, or the Master Servicer, with regard to a Mortgage Loan or
Companion Loan (other than the 2006-C28 Serviced Mortgage Loan or the
Non-Serviced Companion Loans) that is not a Specially Serviced Mortgage Loan,
may waive any Penalty Interest or late payment charge in connection with any
payment on a Mortgage Loan or Companion Loan (other than the 2006-C28 Serviced
Mortgage Loan or the Non-Serviced Companion Loans).

            (b) All amounts collected in respect of any Mortgage Loan or
Companion Loan (other than the Non-Serviced Companion Loans) in the form of
payments from Mortgagors, Liquidation Proceeds (insofar as such Liquidation
Proceeds are of the nature described in clauses (i) through (iii) of the
definition thereof) or Insurance Proceeds shall be applied to either amounts due
and owing under the related Mortgage Note and Mortgage (including, without
limitation, for principal and accrued and unpaid interest) in accordance with
the express provisions of the related Mortgage Note and Mortgage (and, with
respect to a Loan Pair, the related Intercreditor Agreement) or, if required
pursuant to the express provisions of the related Mortgage, or as determined by
the Master Servicer or Special Servicer in accordance with the Servicing
Standard, to the repair or restoration of the related Mortgaged Property, and,
in the absence of such express provisions, shall be applied for purposes of this
Agreement: first, as a recovery of any related and unreimbursed Advances plus
unreimbursed interest accrued thereon; second, as a recovery of Nonrecoverable
Advances, Unliquidated Advances and Workout Delayed Reimbursement Amounts
(including interest on such Nonrecoverable Advances), that were paid from
collections on the Mortgage Loans (allocable to principal) and resulted in
principal from the Mortgage Pool distributed to the Certificateholders being
reduced pursuant to Section 3.05(a) hereof; third, as a recovery of accrued and
unpaid interest at the related Mortgage Rate on such Mortgage Loan, to the
extent such amounts have not been previously advanced, and exclusive of any
portion thereof that constitutes Additional Interest; fourth, as a recovery of
principal of such Mortgage Loan then due and owing, to the extent such amounts
have not been previously advanced, including, without limitation, by reason of
acceleration of the Mortgage Loan following a default thereunder; fifth, in
accordance with the normal servicing practices of the Master Servicer or the
Special Servicer, as a recovery of any other amounts then due and owing under
such Mortgage Loan (other than Additional Interest), including, without
limitation, Prepayment Premiums, Yield Maintenance Charges and Penalty Interest;
sixth, as a recovery of any remaining principal of such Mortgage Loan to the
extent of its entire remaining unpaid principal balance; and seventh, with
respect to any ARD Loan after its Anticipated Repayment Date, as a recovery of
any unpaid Additional Interest. All amounts collected on any Mortgage Loan in
the form of Liquidation Proceeds of the nature described in clauses (iv) through
(vi) of the definition thereof shall be deemed to be applied: first, as a
recovery of any related and unreimbursed Advances plus interest accrued thereon;
second, as a recovery of accrued and unpaid interest at the related Mortgage
Rate on such Mortgage Loan to but not including the Due Date in the Collection
Period of receipt, to the extent such amounts have not been previously advanced,
and exclusive of any portion thereof that constitutes Additional Interest;
third, as a recovery of principal, to the extent such amounts have not been
previously advanced, of such Mortgage Loan to the extent of its entire unpaid
principal balance; and fourth, with respect to any ARD Loan after its
Anticipated Repayment Date, as a recovery of any unpaid Additional Interest. No
such amounts shall be applied to the items constituting additional servicing
compensation as described in the first sentence of either Section 3.11(b) or
3.11(d) unless and until all principal and interest then due and payable on such
Mortgage Loan has been collected. Amounts collected on any REO Loan shall be
deemed to be applied in accordance with the definition thereof. The provisions
of this paragraph with respect to the application of amounts collected on any
Mortgage Loan shall not alter in any way the right of the Master Servicer, the
Special Servicer or any other Person to receive payments from the Certificate
Account as set forth in clauses (ii) through (xvi) of Section 3.05(a) from
amounts so applied.

            (c) Within 60 days after the later of (i) the Closing Date and (ii)
the Master Servicer's receipt of the applicable letter of credit, the Master
Servicer shall notify each provider of a letter of credit for each Mortgage Loan
identified as having a letter of credit on the Mortgage Loan Schedule, that the
Master Servicer or the Special Servicer on behalf of the Trustee for the benefit
of the Certificateholders shall be the beneficiary under each such letter of
credit. If a draw upon a letter of credit is needed before its transfer to the
Trust Fund can be completed, the applicable Mortgage Loan Seller shall draw upon
such letter of credit for the benefit of the Trust Fund pursuant to written
instructions from the Master Servicer.

            (d) In the event that the Master Servicer or Special Servicer
receives Additional Interest in any Collection Period, or receives notice from
the related Mortgagor that the Master Servicer or Special Servicer will be
receiving Additional Interest in any Collection Period, the Master Servicer or
Special Servicer, as applicable, will promptly notify the Trustee. Subject to
the provisions of Section 3.02(a) hereof, none of the Master Servicer, the
Trustee or the Special Servicer shall be responsible for any such Additional
Interest not collected after notice from the related Mortgagor.

            (e) With respect to any Mortgage Loan in connection with which the
Mortgagor was required to escrow funds or to post a letter of credit related to
obtaining certain performance objectives described in the applicable Mortgage
Loan documents, the Master Servicer shall, to the extent consistent with the
Servicing Standard, hold such escrows, letters of credit and proceeds thereof as
additional collateral and not apply such items to reduce the principal balance
of such Mortgage Loan unless otherwise required to do so pursuant to the
applicable Mortgage Loan documents.

            Section 3.03. Collection of Taxes, Assessments and Similar Items;
Servicing Accounts; Reserve Accounts.

            (a) The Master Servicer shall, as to all Mortgage Loans (other than
the 2006-C28 Serviced Mortgage Loan) and Companion Loans (other than the
Non-Serviced Companion Loans), establish and maintain one or more accounts (the
"Servicing Accounts"), into which all Escrow Payments shall be deposited and
retained, and shall administer such accounts in accordance with the terms of the
Mortgage Loan documents. Each Servicing Account shall be an Eligible Account.
Withdrawals of amounts so collected from a Servicing Account may be made (to the
extent amounts have been escrowed for such purpose) only to: (i) effect payment
of items for which Escrow Payments were collected and comparable items; (ii)
reimburse the Master Servicer or the Trustee for any unreimbursed Servicing
Advances; (iii) refund to Mortgagors any sums as may be determined to be
overages; (iv) pay interest, if required and as described below, to Mortgagors
on balances in the Servicing Account; (v) pay itself interest and investment
income on balances in the Servicing Account as described in Section 3.06(b), if
and to the extent not required by law or the terms of the applicable Mortgage
Loan to be paid to the Mortgagor; (vi) withdraw amounts deposited in error or
(vii) clear and terminate the Servicing Account at the termination of this
Agreement in accordance with Section 9.01. To the extent permitted by law or the
applicable Mortgage Loan, funds in the Servicing Accounts may be invested only
in Permitted Investments in accordance with the provisions of Section 3.06 and
in accordance with the terms of the related Mortgage Loan documents. The Master
Servicer shall pay or cause to be paid to the Mortgagors interest, if any,
earned on the investment of funds in Servicing Accounts maintained thereby, if
required by law or the terms of the related Mortgage Loan. If the Master
Servicer shall deposit in a Servicing Account any amount not required to be
deposited therein, it may at any time withdraw such amount from such Servicing
Account, any provision herein to the contrary notwithstanding. The Servicing
Accounts shall not be considered part of the segregated pool of assets
constituting REMIC I, REMIC II or the Additional Interest Grantor Trust.

            (b) The Master Servicer (for the Mortgage Loans other than Specially
Serviced Mortgage Loans, the 2006-C28 Serviced Mortgage Loan and REO Loans) or
the Special Servicer (for Specially Serviced Mortgage Loans and REO Loans) shall
(i) maintain accurate records with respect to the related Mortgaged Property
reflecting the status of real estate taxes, assessments and other similar items
that are or may become a lien thereon and the status of insurance premiums and
any ground rents payable in respect thereof and (ii) use reasonable efforts to
obtain, from time to time, all bills for the payment of such items (including
renewal premiums) and shall effect payment thereof prior to the applicable
penalty or termination date and, in any event, prior to the institution of
foreclosure or similar proceedings with respect to the related Mortgaged
Property for nonpayment of such items. For purposes of effecting any such
payment for which it is responsible, the Master Servicer shall apply Escrow
Payments (at the direction of the Special Servicer for Specially Serviced
Mortgage Loans and REO Loans) as allowed under the terms of the related Mortgage
Loan or Companion Loan or, if such Mortgage Loan or Companion Loan does not
require the related Mortgagor to escrow for the payment of real estate taxes,
assessments, insurance premiums, ground rents (if applicable) and similar items,
the Master Servicer shall, as to all Mortgage Loans or Companion Loans, use
reasonable efforts consistent with the Servicing Standard to enforce the
requirement of the related Mortgage that the Mortgagor make payments in respect
of such items at the time they first become due, and, in any event, prior to the
institution of foreclosure or similar proceedings with respect to the related
Mortgaged Property for nonpayment of such items.

            (c) The Master Servicer shall, as to all Mortgage Loans and
Companion Loans (other than the 2006-C28 Serviced Mortgage Loan and its related
Companion Loan), subject to Section 3.01(d), make a Servicing Advance with
respect to the related Mortgaged Property in an amount equal to all such funds
as are necessary for the purpose of effecting the payment of (i) real estate
taxes, assessments, penalties and other similar items, (ii) ground rents (if
applicable), and (iii) premiums on Insurance Policies in each instance if and to
the extent Escrow Payments (if any) collected from the related Mortgagor are
insufficient to pay such item when due and the related Mortgagor has failed to
pay such item on a timely basis; provided that the Master Servicer shall not
make any Servicing Advance prior to the penalty date or cancellation date, as
applicable, if the Master Servicer reasonably anticipates in accordance with the
Servicing Standard that the Mortgagor will pay such amount on or before the
penalty date or cancellation date; provided, further, the Master Servicer shall
not be obligated to make any Servicing Advance that would, if made, constitute a
Nonrecoverable Servicing Advance but may, but is not required to, pay such
amounts out of funds in the Certificate Account if it determines that such
payment would be in the best interests of the Certificateholders and such
payment may be withdrawn from amounts in the Certificate Account; provided that
the Master Servicer may conclusively rely upon any such nonrecoverability
determination by the Special Servicer. All such Servicing Advances or amounts
withdrawn from the Certificate Account shall be reimbursable in the first
instance from related collections from the Mortgagors, and further as provided
in Section 3.05(a). No costs incurred by the Master Servicer or the Trustee in
effecting the payment of real estate taxes, assessments and, if applicable,
ground rents on or in respect of such Mortgaged Properties shall, for purposes
of this Agreement, including, without limitation, the Paying Agent's calculation
of monthly distributions to Certificateholders, be added to the unpaid Stated
Principal Balances of the related Mortgage Loans or Companion Loans,
notwithstanding that the terms of such Mortgage Loans or Companion Loans so
permit. The foregoing shall in no way limit the Master Servicer's ability to
charge and collect from the Mortgagor such costs together with interest thereon.
In addition to any other rights to recovery set forth herein with respect to any
Servicing Advance made on the Newport Bluffs Whole Loan, the Master Servicer,
the Special Servicer or the Trustee, as applicable, shall be entitled to
recovery of a portion of such amounts without duplication from the holder of the
Pari Passu Companion Loan pursuant to the terms of the related Intercreditor
Agreement.

            The Special Servicer shall give the Master Servicer and the Trustee
not less than 5 Business Days' notice with respect to Servicing Advances to be
made on any Specially Serviced Mortgage Loan or REO Property, before the date on
which the Master Servicer is required to make any Servicing Advance with respect
to a given Mortgage Loan, Companion Loan or REO Property; provided, however,
only 2 Business Days' notice shall be required in respect of Servicing Advances
required to be made on an urgent or emergency basis (which may include, without
limitation, Servicing Advances required to make tax or insurance payments). In
addition, the Special Servicer shall provide the Master Servicer and the Trustee
with such information in its possession as the Master Servicer or the Trustee,
as applicable, may reasonably request to enable the Master Servicer or the
Trustee, as applicable, to determine whether a requested Servicing Advance would
constitute a Nonrecoverable Servicing Advance. Any request by the Special
Servicer that the Master Servicer make a Servicing Advance shall be deemed to be
a determination by the Special Servicer that such requested Servicing Advance is
not a Nonrecoverable Servicing Advance, and the Master Servicer shall be
entitled to conclusively rely on such determination. On the fourth Business Day
before each Distribution Date, the Special Servicer shall report to the Master
Servicer the Special Servicer's determination as to whether any Servicing
Advance previously made with respect to a Specially Serviced Mortgage Loan or
REO Loan is a Nonrecoverable Servicing Advance. The Master Servicer shall be
entitled to conclusively rely on such a determination.

            If the Master Servicer is required under any provision of this
Agreement (including, but not limited to, this Section 3.03(c)) to make a
Servicing Advance, but does not do so within 15 days after such Advance is
required to be made (or such shorter period as may be required to avoid
foreclosure of liens for delinquent real estate taxes or a lapse in insurance
coverage), the Trustee shall, if a Responsible Officer of the Trustee has actual
knowledge of such failure on the part of the Master Servicer, give written
notice of such failure to the Master Servicer. If such Servicing Advance is not
made by the Master Servicer within 3 Business Days after such notice then
(subject to a determination that such Servicing Advance would not be a
Nonrecoverable Servicing Advance) the Trustee shall make such Servicing Advance.
Any failure by the Master Servicer to make a Servicing Advance hereunder shall
constitute an Event of Default by the Master Servicer subject to and as provided
in Section 7.01.

            (d) In connection with its recovery of any Servicing Advance from
the Certificate Account pursuant to Section 3.05(a), each of the Master Servicer
and the Trustee shall be entitled to receive, out of any amounts then on deposit
in the Certificate Account, any unpaid interest at the Reimbursement Rate in
effect from time to time, compounded annually, accrued on the amount of such
Servicing Advance (to the extent made with its own funds) from the date made to
but not including the date of reimbursement such interest to be payable, subject
to the terms of the related Intercreditor Agreement with respect to a Loan Pair,
first out of late payment charges and Penalty Interest received on the related
Mortgage Loan or REO Property during the Collection Period in which such
reimbursement is made, and to the extent that such late payment charges and
Penalty Interest are insufficient, but only after or at the same time the
related Advance has been or is reimbursed pursuant to this Agreement, then from
general collections on the Mortgage Loans then on deposit in the Certificate
Account. The Master Servicer shall reimburse itself or the Trustee, as
applicable, for any outstanding Servicing Advance made thereby as soon as
practicable after funds available for such purpose have been received by the
Master Servicer, and in no event shall interest accrue in accordance with this
Section 3.03(d) on any Servicing Advance as to which the corresponding Escrow
Payment or other similar payment by the Mortgagor was received by the Master
Servicer on or prior to the date the related Servicing Advance was made.
Notwithstanding anything herein to the contrary, in no event shall the Master
Servicer or the Trustee make any Servicing Advances with respect to any
Companion Loan after the related Co-Lender Loan has been paid in full.

            (e) The determination by the Master Servicer or the Special Servicer
that the Master Servicer has made a Nonrecoverable Servicing Advance or that any
proposed Servicing Advance, if made, would constitute a Nonrecoverable Servicing
Advance, shall be made in accordance with the Servicing Standard and shall be
evidenced by an Officer's Certificate delivered promptly to the Trustee and the
Depositor, setting forth the basis for such determination, together with a copy
of any Appraisal (the cost of which may be paid out of the Certificate Account
pursuant to Section 3.05(a)) of the related Mortgaged Property or REO Property,
as the case may be; which Appraisal shall be conducted pursuant to Section
3.09(a) by the Master Servicer, or by or on behalf of the Special Servicer if
the Mortgage Loan is a Specially Serviced Mortgage Loan or, if no such Appraisal
has been performed, a copy of an Appraisal of the related Mortgaged Property or
REO Property, performed within the twelve months preceding such determination
and the party delivering such appraisal has no actual knowledge of a material
adverse change in the condition of the related Mortgaged Property that would
draw into question the applicability of such Appraisal, by an Independent
Appraiser or other expert in real estate matters, and further accompanied by
related Mortgagor operating statements and financial statements, budgets and
rent rolls of the related Mortgaged Property and any engineers' reports,
environmental surveys or similar reports that the Master Servicer or the Special
Servicer may have obtained and that support such determination. The Master
Servicer shall be entitled to rely, conclusively, on any determination by the
Special Servicer that a Servicing Advance, if made, would be a Nonrecoverable
Advance. The Trustee shall be entitled to rely, conclusively, on any
determination by the Master Servicer or the Special Servicer that a Servicing
Advance, if made, would be a Nonrecoverable Advance; provided, however, if the
Master Servicer has failed to make a Servicing Advance for reasons other than a
determination by the Master Servicer or the Special Servicer that such Servicing
Advance would be a Nonrecoverable Advance, the Trustee shall make such Servicing
Advance within the time periods required by Section 3.03(c) unless the Trustee
in good faith, makes a determination that such Servicing Advance would be a
Nonrecoverable Advance.

            (f) The Master Servicer shall, as to all Mortgage Loans (other than
the 2006-C28 Serviced Mortgage Loan) and Companion Loans (other than the
Non-Serviced Companion Loans), establish and maintain, as applicable, one or
more accounts (the "Reserve Accounts"), into which all Reserve Funds, if any,
shall be deposited and retained. Withdrawals of amounts so deposited may be made
(i) to pay for, or to reimburse the related Mortgagor in connection with, the
related environmental remediation, repairs and/or capital improvements at the
related Mortgaged Property if the repairs and/or capital improvements have been
completed, and such withdrawals are made in accordance with the Servicing
Standard and the terms of the related Mortgage Note, Mortgage and any agreement
with the related Mortgagor governing such Reserve Funds and any other items for
which such Reserve Funds were intended pursuant to the related Mortgage Loan
documents and (ii) to pay the Master Servicer interest and investment income
earned on amounts in the Reserve Accounts as described below if permitted under
the related Mortgage Loan documents. To the extent permitted in the applicable
Mortgage, funds in the Reserve Accounts to the extent invested may be only
invested in Permitted Investments in accordance with the provisions of Section
3.06. All Reserve Accounts shall be Eligible Accounts. The Reserve Accounts
shall not be considered part of the segregated pool of assets comprising REMIC
I, REMIC II or the Additional Interest Grantor Trust. Consistent with the
Servicing Standard, the Master Servicer may waive or extend the date set forth
in any agreement governing such Reserve Funds by which the required repairs
and/or capital improvements at the related Mortgaged Property must be completed.

            Section 3.04. Certificate Account, Interest Reserve Account,
Gain-on-Sale Reserve Account, Additional Interest Account, Distribution Account
and Companion Distribution Account.

            (a) The Master Servicer shall establish and maintain one or more
      accounts (collectively, the "Certificate Account"), held on behalf of the
      Trustee in trust for the benefit of the Certificateholders and, to the
      extent funds on deposit in the Certificate Account are allocable to the
      related Companion Loans (other than the Non-Serviced Companion Loans), the
      related Companion Holders, but solely to the extent set forth in the
      related Intercreditor Agreement and subject to any provisions relating to
      subordination of rights with respect to the Co-Lender Loans. The
      Certificate Account shall be an Eligible Account. The Master Servicer
      shall deposit or cause to be deposited in the Certificate Account, within
      1 Business Day of receipt of available funds (in the case of payments by
      Mortgagors or other collections on the Mortgage Loans or the Companion
      Loans) or as otherwise required hereunder, the following payments and
      collections received or made by the Master Servicer or on its behalf
      subsequent to the Cut-Off Date (other than in respect of principal and
      interest on the Mortgage Loans or the Companion Loans (other than the
      Non-Serviced Companion Loans) due and payable on or before the Cut-Off
      Date, which payments shall be delivered promptly to the applicable
      Mortgage Loan Seller or its designee, with negotiable instruments endorsed
      as necessary and appropriate without recourse), other than amounts
      received from Mortgagors which are to be used to purchase defeasance
      collateral, or payments (other than Principal Prepayments) received by it
      on or prior to the Cut-Off Date but allocable to a period subsequent
      thereto:

            (i) all payments on account of principal of the Mortgage Loans or
      Companion Loans (other than the Non-Serviced Companion Loans), including
      Principal Prepayments;

            (ii) all payments on account of interest on the Mortgage Loans or
      Companion Loans (other than the Non-Serviced Companion Loans), including
      Additional Interest;

            (iii) all Prepayment Premiums and Yield Maintenance Charges;

            (iv) all Insurance Proceeds and Liquidation Proceeds (other than
      Liquidation Proceeds described in clause (vi) of the definition thereof
      that are required to be deposited in the Distribution Account pursuant to
      Section 9.01) received in respect of any Mortgage Loan or Companion Loan
      (other than the Non-Serviced Companion Loans) (including, without
      limitation, any amounts representing recoveries of Nonrecoverable Advances
      or Unliquidated Advances, including interest on such Nonrecoverable
      Advances or Unliquidated Advances in respect of the related Mortgage
      Loans);

            (v) any amounts required to be deposited by the Master Servicer
      pursuant to Section 3.06(b) in connection with losses incurred with
      respect to Permitted Investments of funds held in the Certificate Account;

            (vi) any amounts required to be deposited by the Master Servicer or
      the Special Servicer pursuant to Section 3.07(b) in connection with losses
      resulting from a deductible clause in a blanket hazard policy;

            (vii) any amounts required to be transferred from an REO Account
      pursuant to Section 3.16(c) and any amounts received from a Mortgage Loan
      Seller with respect to a Special Reserve Account pursuant to Section
      2.02(d);

            (viii) any amount in respect of Purchase Prices and Substitution
      Shortfall Amounts pursuant to Section 2.03(b);

            (ix) any amount required to be deposited by the Master Servicer
      pursuant to Section 3.19(a) in connection with Prepayment Interest
      Shortfalls;

            (x) any amount required to be deposited by the Master Servicer
      pursuant to Section 3.03(d) and 4.03(d) in connection with reimbursing the
      Trust Fund for interest paid on a P&I Advance or Servicing Advance, as
      applicable;

            (xi) any amount paid by a Mortgagor to cover items for which a
      Servicing Advance has been previously made and for which the Master
      Servicer, the Special Servicer or the Trustee, as applicable, has been
      previously reimbursed out of the Certificate Account;

            (xii) any amount required to be deposited by the Master Servicer or
      the Special Servicer pursuant to Section 3.11(b) and 3.11(d),
      respectively, in connection with reimbursing the Trust Fund for Additional
      Trust Fund Expenses; and

            (xiii) all amounts remitted or advanced by the 2006-C28 Master
      Servicer in respect of the 2006-C28 Serviced Mortgage Loan, pursuant to
      the 2006-C28 Pooling and Servicing Agreement and the related Intercreditor
      Agreement.

            The foregoing requirements for deposit in the Certificate Account
shall be exclusive. Notwithstanding the foregoing, actual payments from
Mortgagors in the nature of Escrow Payments, amounts to be deposited in Reserve
Accounts, and amounts that the Master Servicer and the Special Servicer are
entitled to retain as additional servicing compensation pursuant to Sections
3.11(b) and 3.11(d), need not be deposited by the Master Servicer in the
Certificate Account. If the Master Servicer shall deposit in the Certificate
Account any amount not required to be deposited therein, it may at any time
withdraw such amount from the Certificate Account, any provision herein to the
contrary notwithstanding. The Master Servicer shall promptly deliver to the
Special Servicer as additional servicing compensation in accordance with Section
3.11(d), assumption fees, late payment charges (to the extent not applied to pay
interest on Advances as provided in Sections 3.03(d) or 4.03(d) or Additional
Trust Fund Expenses as provided in Section 3.11(d)) and other transaction fees
or other expenses received by the Master Servicer to which the Special Servicer
is entitled pursuant to either of such Sections upon receipt of a certificate of
a Servicing Officer of the Special Servicer describing the item and amount. The
Certificate Account shall be maintained as a segregated account, separate and
apart from trust funds created for mortgage pass-through certificates of other
series and the other accounts of the Master Servicer.

            The Master Servicer may maintain, as part of the Certificate
Account, a subaccount for each Companion Loan (other than the Non-Serviced
Companion Loans) on behalf of and in trust for the benefit of the related
Companion Holder, into which subaccount the Master Servicer shall deposit or
cause to be deposited all amounts described in the first paragraph of this
Section 3.04(a) to the extent allocable to the related Companion Loan in
accordance with this Agreement and the related Intercreditor Agreement, and out
of which subaccount the Master Servicer may make withdrawals to the extent
withdrawals of such funds are provided for in Section 3.05(a) of this Agreement
or in the related Intercreditor Agreement. Each such subaccount shall be an
Eligible Account or a subaccount of an Eligible Account and shall be entitled
"Wachovia Bank, National Association, as Master Servicer, on behalf of and in
trust for the related Companion Holder."

            Upon receipt of any of the amounts described in clauses (i) through
(iv), (xi), (xii) and (xiii) above with respect to any Mortgage Loan or
Companion Loan, the Special Servicer shall promptly, but in no event later than
one Business Day after receipt of available funds, remit such amounts (net of
any reimbursable expenses incurred by the Special Servicer) to or at the
direction of the Master Servicer for deposit into the Certificate Account in
accordance with the second preceding paragraph, unless the Special Servicer
determines, consistent with the Servicing Standard, that a particular item
should not be deposited because of a restrictive endorsement. Any such amounts
received by the Special Servicer with respect to an REO Property shall be
deposited by the Special Servicer into the REO Account and remitted to the
Master Servicer for deposit into the Certificate Account pursuant to Section
3.16(c). With respect to any such amounts paid by check to the order of the
Special Servicer, the Special Servicer shall endorse such check to the order of
the Master Servicer and shall deliver promptly, but in no event later than three
Business Days after receipt, any such check to the Master Servicer by overnight
courier, unless the Special Servicer determines, consistent with the Servicing
Standard, that a particular item cannot be so endorsed and delivered because of
a restrictive endorsement or other appropriate reason.

            (b) The Trustee shall establish and maintain one or more trust
accounts (collectively, the "Distribution Account") at the office of the Trustee
to be held in trust for the benefit of the Certificateholders (other than the
Class Z Certificateholders). The Distribution Account shall be an Eligible
Account. The Trustee hereby authorizes the Paying Agent to make deposits in and
withdrawals from the Distribution Account in accordance with the terms of this
Agreement. The Master Servicer shall deliver to the Paying Agent each month on
or before 1:30 p.m. New York City time on the P&I Advance Date therein, for
deposit in the Distribution Account, an aggregate amount of immediately
available funds equal to that portion of the Available Distribution Amount
(calculated without regard to clauses (a)(ii), (a)(v) and (b)(ii)(B) of the
definition thereof) for the related Distribution Date then on deposit in the
Certificate Account, together with (i) any Prepayment Premiums and/or Yield
Maintenance Charges received on the Mortgage Loans during the related Collection
Period, and (ii) in the case of the final Distribution Date, any additional
amounts contemplated by the third paragraph of Section 9.01.

            The Companion Paying Agent shall establish and maintain one or more
trust accounts for distributions to the Companion Loans (other than the
Non-Serviced Companion Loans) (collectively, the "Companion Distribution
Account") to be held on behalf of the related Companion Holder(s). The Companion
Distribution Account shall be an Eligible Account and may be a subaccount of the
Certificate Account. The Master Servicer hereby authorizes the Companion Paying
Agent to make deposits in and withdrawals from the Companion Distribution
Account in accordance with the terms of this Agreement. Unless the Companion
Distribution Account is the related subaccount or subaccounts of the Certificate
Account as allowed by the last sentence of the definition of the Companion
Distribution Account, the Master Servicer shall deliver to the Companion Paying
Agent each month on or before 2:00 p.m. New York City time on the P&I Advance
Date therein for deposit in the Companion Distribution Account, an aggregate
amount of immediately available funds equal to the amount available to be
distributed to the related Companion Holder(s) pursuant to the related
Intercreditor Agreement.

            In addition, the Master Servicer shall, as and when required
hereunder, deliver to the Paying Agent for deposit in the Distribution Account:

            (i) any P&I Advances required to be made by the Master Servicer in
      accordance with Section 4.03(a); and

            (ii) the Purchase Price paid in connection with the purchase by the
      Master Servicer of all of the Mortgage Loans and any REO Properties,
      pursuant to Section 9.01, exclusive of the portion of such amounts
      required to be deposited in the Certificate Account pursuant to Section
      9.01.

            The Paying Agent shall, upon receipt, deposit in the Distribution
Account any and all amounts received by the Paying Agent that are required by
the terms of this Agreement to be deposited therein.

            (c) The Trustee shall establish and maintain one or more accounts
(collectively, the "Interest Reserve Account"), held in trust for the benefit of
the Certificateholders. The Interest Reserve Account shall be an Eligible
Account. On or before each Distribution Date in February and, during each year
that is not a leap year, January (unless, in each case, the related Distribution
Date is the final Distribution Date), the Master Servicer shall withdraw from
the Certificate Account and remit to the Trustee for deposit in the Interest
Reserve Account, with respect to each Interest Reserve Loan, an amount equal to
the Interest Reserve Amount in respect of such Interest Reserve Loan, for such
Distribution Date (such withdrawal from the Certificate Account to be made out
of general collections on the Mortgage Pool where any related P&I Advance was
deposited in the Distribution Account).

            (d) Prior to any Collection Period during which Additional Interest
is received, and upon notification from the Master Servicer or Special Servicer
pursuant to Section 3.02(d), the Trustee (on behalf of the Certificateholders)
shall establish and maintain the Additional Interest Account in the name of the
Trustee in trust for the benefit of the Class Z Certificateholders. The
Additional Interest Account shall be established and maintained as an Eligible
Account. Prior to the applicable Distribution Date, the Master Servicer shall
remit to the Trustee for deposit in the Additional Interest Account an amount
equal to the Additional Interest received during the applicable Collection
Period.

            Following the distribution of Additional Interest to the Class Z
Certificateholders, on the first Distribution Date after which there are no
longer any Mortgage Loans outstanding which pursuant to their terms could pay
Additional Interest, the Trustee shall terminate the Additional Interest
Account.

            (e) The Paying Agent, on behalf of the Trustee for the benefit of
the Certificateholders, shall establish (upon notice from Special Servicer of an
event occurring that generates Gain-on-Sale Proceeds) and maintain the
Gain-on-Sale Reserve Account in the name of the Paying Agent on behalf of the
Trustee for the benefit of the Certificateholders. The Gain-on-Sale Reserve
Account shall be maintained as a segregated account, separate and apart from
trust funds for mortgage pass-through certificates of other series administered
by the Paying Agent and other accounts of the Paying Agent. Upon the disposition
of any REO Property in accordance with Section 3.09 or Section 3.18, the Special
Servicer will calculate the Gain-on-Sale Proceeds, if any, realized in
connection with such sale and remit such funds to the Paying Agent for deposit
into the Gain-on-Sale Reserve Account.

            (f) Funds in the Certificate Account, the Interest Reserve Account,
the Distribution Account, the Additional Interest Account, the Interest
Shortfall Account and the Gain-on-Sale Reserve Account may be invested only in
Permitted Investments in accordance with the provisions of Section 3.06. Funds
on deposit in the Gain-on-Sale Reserve Account shall be invested pursuant to
Section 3.06. The Master Servicer shall give written notice to the Trustee, the
Special Servicer and the Rating Agencies of the location of the Certificate
Account as of the Closing Date and of the new location of the Certificate
Account prior to any change thereof. The Paying Agent shall give written notice
to the Trustee, the Master Servicer, the Special Servicer and the Rating
Agencies of any new location of the Distribution Account prior to any change
thereof.

            (g) On or before the Closing Date, the Trustee shall establish and
maintain one or more accounts (collectively, the "Interest Shortfall Account"),
held on behalf of the Trustee in trust for the benefit of the
Certificateholders. On the Closing Date, the Depositor shall deposit or cause to
be deposited the Interest Shortfall Amount.

            Section 3.05. Permitted Withdrawals from the Certificate Account,
Distribution Account, Interest Reserve Account, Additional Interest Account,
Gain-on-Sale Reserve Account and Companion Distribution Account.

            (a) The Master Servicer may, from time to time, make withdrawals
      from the Certificate Account for any of the following purposes (the order
      set forth below not constituting an order of priority for such
      withdrawals):

            (i) (A) to remit to the Paying Agent for deposit in the Distribution
      Account the amounts required to be so deposited pursuant to the first
      paragraph of Section 3.04(b) and any amount that may be applied to make
      P&I Advances pursuant to Section 4.03(a); and (B) to deposit in and remit
      to the Companion Paying Agent for deposit in each Companion Distribution
      Account the amounts required to be so deposited pursuant to the second
      paragraph of Section 3.04(b) and any amount relating to a Companion Loan
      (other than the Non-Serviced Companion Loans) that may be applied to make
      P&I Advances pursuant to Section 4.03(a);

            (ii) to reimburse the Trustee and itself, in that order, for
      unreimbursed P&I Advances (the Trustee's and Master Servicer's right to
      reimbursement pursuant to this clause (ii) with respect to any P&I Advance
      (other than Nonrecoverable Advances and Workout-Delayed Reimbursement
      Amounts that are reimbursed pursuant to clause (vii) below) being limited
      to amounts that represent Late Collections of interest (net of the related
      Servicing Fees) and principal (net of any related Workout Fee or
      Liquidation Fee) received in respect of the particular Mortgage Loan, REO
      Loan or Companion Loan as to which such P&I Advance was made);

            (iii) to pay to itself earned and unpaid Master Servicing Fees in
      respect of each Mortgage Loan and REO Loan, the Master Servicer's right to
      payment pursuant to this clause (iii) with respect to any Mortgage Loan or
      REO Loan being limited to amounts received on or in respect of such
      Mortgage Loan (whether in the form of payments, Liquidation Proceeds or
      Insurance Proceeds) or such REO Loan (whether in the form of REO Revenues,
      Liquidation Proceeds or Insurance Proceeds) that are allocable as a
      recovery of interest thereon;

            (iv) to pay to the Special Servicer earned and unpaid Special
      Servicing Fees in respect of each Specially Serviced Mortgage Loan and REO
      Loan;

            (v) to pay the Special Servicer (or, if applicable, a predecessor
      Special Servicer) earned and unpaid Workout Fees or Liquidation Fees in
      respect of each Specially Serviced Mortgage Loan, Corrected Mortgage Loan,
      and REO Loan, the Special Servicer's (or, if applicable, any predecessor
      Special Servicer's) right to payment pursuant to this clause (v) with
      respect to any such Mortgage Loan or REO Loan being limited to amounts
      received on or in respect of such Specially Serviced Mortgage Loan or
      Corrected Mortgage Loan (whether in the form of payments or Liquidation
      Proceeds) or such REO Loan (whether in the form of REO Revenues or
      Liquidation Proceeds) that are allocable as a recovery of principal or
      interest thereon (provided that no Liquidation Fee shall be payable out of
      (i) Insurance Proceeds and (ii) any Liquidation Proceeds received in
      connection with the purchase of any Mortgage Loan or REO Property by a
      Mortgage Loan Seller pursuant to the applicable Mortgage Loan Purchase
      Agreement (if purchased within the required time period set forth in such
      Mortgage Loan Purchase Agreement), by the Special Servicer, the Companion
      Holder or the Majority Subordinate Certificateholder, as described in
      Section 3.18(c), Section 3.18(d), Section 3.18(e) or Section 3.18(h), or
      by any mezzanine lender pursuant to the terms of the related mezzanine
      intercreditor agreement, or by the Master Servicer, the Special Servicer
      or the Majority Subordinate Certificateholder or the purchasing
      Certificateholder pursuant to Section 9.01);

            (vi) to reimburse the Trustee, itself or the Special Servicer, in
      that order, for any unreimbursed Servicing Advances, the Trustee's, the
      Master Servicer's and the Special Servicer's respective rights to
      reimbursement pursuant to this clause (vi) with respect to any Servicing
      Advance (other than Nonrecoverable Advances and Workout-Delayed
      Reimbursement Amounts that are reimbursed pursuant to clause (vii) below)
      being limited to payments made by the related Mortgagor that are allocable
      to such Servicing Advance, or to Liquidation Proceeds, Insurance Proceeds
      and, if applicable, REO Revenues received in respect of the particular
      Mortgage Loan, Companion Loan or REO Property as to which such Servicing
      Advance was made (provided that in case of such reimbursement relating to
      any Co-Lender Loan, such reimbursements shall be made first, from amounts
      collected on the related Subordinate Companion Loan and then from the
      related Co-Lender Loan (and Pari Passu Companion Loan, if any) in
      accordance with the terms of the related Intercreditor Agreement);

            (vii) to reimburse the Trustee, itself or the Special Servicer, in
      that order, (A) for any unreimbursed Advances (including interest at the
      Reimbursement Rate) that have been or are determined to be Nonrecoverable
      Advances and for any Workout-Delayed Reimbursement Amounts, in that order,
      and (B) to pay itself, with respect to any Mortgage Loan (including, if
      applicable, the 2006-C28 Serviced Mortgage Loan), Companion Loan or any
      REO Property, any related earned Master Servicing Fee that remained unpaid
      in accordance with clause (iii) above, in the case of clause (B),
      following a Final Recovery Determination made with respect to such
      Mortgage Loan or REO Property and the deposit into the Certificate Account
      of all amounts received in connection therewith; provided, however, any
      reimbursement of Nonrecoverable Advances or Workout Delayed Reimbursement
      Amounts payable pursuant to this clause (vii), with respect to
      Nonrecoverable Advances shall be deemed to be recovered, first, from
      collections or receipts on the Mortgage Loans and REO Properties in
      respect of principal and then in respect of interest and other
      collections, and, with respect to Workout Delayed Reimbursement Amounts,
      only out of collections and receipts on the Mortgage Loans and REO
      Properties in respect of principal;

            (viii) to reimburse the 2006-C28 Master Servicer or the 2006-C28
      Special Servicer for unreimbursed advances (including interest on such
      advances) made by such party pursuant to the 2006-C28 Pooling and
      Servicing Agreement, in respect of the 2006-C28 Serviced Mortgage Loan
      (other than principal and interest advances made on the Pari Passu
      Companion Loan), that have been or are determined to be nonrecoverable
      advances and for any workout-delayed reimbursement amounts, in that order,
      pursuant to the terms of the 2006-C28 Pooling and Servicing Agreement (up
      to, with respect to a servicing advance, the 2006-C28 Serviced Mortgage
      Loan's pro rata share of such advance, or if the amount of such pro rata
      share, together with amounts available from collections in the certificate
      account created under the 2006-C28 Pooling and Servicing Agreement is
      insufficient to reimburse the party that made such advance, then up to the
      full amount of such advance made on the 2006-C28 Serviced Mortgage Loan
      and interest thereon); provided, however, any reimbursement of
      Nonrecoverable Advances or Workout Delayed Reimbursement Amounts payable
      pursuant to this clause (viii), with respect to Nonrecoverable Advances,
      shall be deemed to be recovered, first, from collections or receipts on
      the Mortgage Loans and REO Properties in respect of principal and then in
      respect of interest and other collections, and, with respect to Workout
      Delayed Reimbursement Amounts, only out of collections and receipts on the
      Mortgage Loans and REO Properties in respect of principal;

            (ix) at such time as it reimburses the Trustee, itself, the Special
      Servicer, the 2006-C28 Master Servicer or the 2006-C28 Special Servicer,
      in that order, for any unreimbursed Advance (including any Advance that
      constitutes a Workout-Delayed Reimbursement Amount) pursuant to clause
      (ii), (vi), (vii) or (viii) above, to pay the Trustee, itself, the Special
      Servicer, the 2006-C28 Master Servicer or the 2006-C28 Special Servicer,
      as the case may be, in that order, any interest accrued and payable
      thereon in accordance with Section 3.03(d) or 4.03(d) or, with respect to
      the 2006-C28 Serviced Mortgage Loan, pursuant to the 2006-C28 Pooling and
      Servicing Agreement, as applicable; provided that the Trustee's, the
      Master Servicer's, the Special Servicer's, the 2006-C28 Master Servicer's
      and the 2006-C28 Special Servicer's rights to payment pursuant to this
      clause (ix) with respect to interest on any Advance shall be satisfied (A)
      subject to and in accordance with the terms of the Intercreditor Agreement
      with respect to the related Loan Pair, first out of late payment charges
      and Penalty Interest collected on or in respect of the related Mortgage
      Loan (and if the Advance was made with respect to a Co-Lender Loan, out of
      such amounts collected on or in respect of the related Companion Loan(s))
      and REO Loan, during the Collection Period in which such Advance is
      reimbursed (the use of such late payment charges and Penalty Interest to
      be allocated between the Master Servicer and the Special Servicer on a pro
      rata basis based on the amount of late payment charges and Penalty
      Interest that the Master Servicer and the Special Servicer have received
      as additional servicing compensation during such period), and (B) to the
      extent that the late payment charges and Penalty Interest described in the
      immediately preceding clause (A) are insufficient, but only at the same
      time or after such Advance has been reimbursed, out of general collections
      on the Mortgage Loans, Companion Loans and any REO Properties on deposit
      in the Certificate Account;

            (x) to pay for costs and expenses incurred by the Trust Fund
      pursuant to the first sentence of Section 3.12(a) or, pursuant to Section
      3.12, as to any Mortgage Loan that is a Specially Serviced Mortgage Loan;

            (xi) to pay itself, as additional servicing compensation in
      accordance with Section 3.11(b), (A) interest and investment income earned
      in respect of amounts held in the Certificate Account as provided in
      Section 3.06(b), but only to the extent of the Net Investment Earnings
      with respect to the Certificate Account for any Collection Period; (B) any
      Prepayment Interest Excesses, and (C) Penalty Interest and late payment
      charges on Mortgage Loans that are not Specially Serviced Mortgage Loans
      (to the extent such Penalty Interest and/or late payment charges were not
      applied to offset interest on Advances pursuant to Section 3.05(a)(ix)(A)
      or Additional Trust Fund Expenses pursuant to Section 3.11(b) or
      inspection expenses pursuant to Section 3.12(a));

            (xii) to pay to the Special Servicer, as additional servicing
      compensation in accordance with Section 3.11(d) (to the extent such
      Penalty Interest and/or late payment charges were not applied to offset
      interest on Advances pursuant to clause (ix)(A) of this Section or
      Additional Trust Fund Expenses pursuant to Section 3.11(d) or inspection
      expenses pursuant to Section 3.12(a));

            (xiii) to pay for the cost of an independent appraiser or other
      expert in real estate matters retained pursuant to Section 3.03(e),
      3.09(a), 3.18(b), 4.03(c) or 9.01;

            (xiv) to pay itself, the Special Servicer, the Depositor, or any of
      their respective directors, officers, members, managers, employees and
      agents, as the case may be, any amounts payable to any such Person
      pursuant to Section 6.03;

            (xv) to pay for (A) the advice of counsel and tax accountants
      contemplated by Section 3.17(a)(iii), (B) the cost of the Opinions of
      Counsel contemplated by Sections 3.09(b)(ii), 3.20(d) and 11.02(a), (C)
      the cost of an Opinion of Counsel contemplated by Section 11.01(a) or
      11.01(c) in connection with any amendment to this Agreement requested by
      the Master Servicer or the Special Servicer that protects or is in
      furtherance of the rights and interests of Certificateholders, and (D) the
      cost of recording this Agreement in accordance with Section 11.02(a);

            (xvi) to pay itself, the Special Servicer, any of the Mortgage Loan
      Sellers, the Majority Subordinate Certificateholder, a Companion Holder, a
      mezzanine lender or any other Person, as the case may be, with respect to
      each Mortgage Loan, if any, previously purchased by such Person pursuant
      to this Agreement, all amounts received thereon subsequent to the date of
      purchase;

            (xvii) to withdraw any Interest Reserve Amount and remit such
      Interest Reserve Amount to the Trustee for deposit into the Interest
      Reserve Account pursuant to Section 3.04(c);

            (xviii) to remit to the Trustee for deposit into the Additional
      Interest Account the amounts required to be deposited pursuant to Section
      3.04(d);

            (xix) to remit to the Paying Agent for deposit into the Distribution
      Account the amounts required to be deposited pursuant to Section 3.04(b);

            (xx) to remit to the Companion Paying Agent for deposit into the
      Companion Distribution Account the amounts required to be deposited
      pursuant to Section 3.04(b);

            (xxi) to pay the cost of any Environmental Assessment or any
      remedial, corrective or other action pursuant to Section 3.09(c);

            (xxii) to withdraw any amounts deposited in error;

            (xxiii) to withdraw any other amounts that this Agreement expressly
      provides may be withdrawn from the Certificate Account; and

            (xxiv) to clear and terminate the Certificate Account at the
      termination of this Agreement pursuant to Section 9.01.

            The Master Servicer shall keep and maintain separate accounting
records, on a loan-by-loan basis when appropriate, in connection with any
withdrawal from the Certificate Account pursuant to clauses (ii)-(xxiv) above.
Upon request, the Master Servicer shall provide to the Trustee such records and
any other information in the possession of the Master Servicer to enable the
Trustee to determine the amounts attributable to REMIC I (with respect to the
Mortgage Loans) and the Companion Loans. The Master Servicer shall, to the
extent permitted by the terms of the related Intercreditor Agreement, make
claims for reimbursement from the related Companion Holder in connection with
related Servicing Advances and interest thereon and other related expenses so as
to minimize the total amount of withdrawals on the Certificate Account for such
items. Nothing in the foregoing sentence shall limit the Master Servicer's
rights to be reimbursed for claims relating to the Companion Loans that are
reimbursable claims pursuant to the terms of this Agreement. Notwithstanding
anything in this Section 3.05(a) to the contrary, in no event shall the Master
Servicer withdraw from funds on deposit in the Certificate Account any amount to
be applied to, or to provide reimbursement for, any amounts referenced in this
Section 3.05(a) (other than amounts referenced in clause (xx)) which relate to
any Companion Loan to the extent the related Co-Lender Loan has been paid in
full in a prior Collection Period. For the avoidance of doubt, in no event shall
the Master Servicer withdraw from funds on deposit in the Certificate Account
any amounts allocable to the Newport Bluffs Pari Passu Companion Loan (other
than Penalty Interest and late payment charges) to be applied to, or to provide
reimbursement for, any costs, expenses, indemnities, losses or liabilities
relating or allocable to any Mortgage Loan or Companion Loan other than the
Newport Bluffs Pari Passu Companion Loan or the 2006-C28 Serviced Mortgage Loan.

            The Master Servicer shall pay to the Special Servicer (or to third
party contractors at the direction of the Special Servicer) or the Trustee from
the Certificate Account amounts permitted to be paid to the Special Servicer (or
to such third party contractors) or the Trustee therefrom promptly upon receipt
of a certificate of a Servicing Officer of the Special Servicer or of a
Responsible Officer of the Trustee, describing the item and amount to which the
Special Servicer (or such third party contractors) or the Trustee is entitled.
The Master Servicer may rely conclusively on any such certificate and shall have
no duty to re-calculate the amounts stated therein. With respect to any
reimbursement to be made hereunder to the 2006-C28 Master Servicer or the
2006-C28 Special Servicer in respect of any Advance (as defined in the 2006-C28
Pooling and Servicing Agreement) made by such parties subsequently determined to
be a nonrecoverable advance pursuant to the terms of the 2006-C28 Pooling and
Servicing Agreement, the Master Servicer may conclusively rely on a written
statement from such party delivered to the Master Servicer that such Advance (as
defined in the 2006-C28 Pooling and Servicing Agreement) is a nonrecoverable
advance under the terms of the 2006-C28 Pooling and Servicing Agreement. The
Special Servicer shall keep and maintain separate accounting for each Specially
Serviced Mortgage Loan and REO Property, on a loan-by-loan and
property-by-property basis, for the purpose of justifying any request for
withdrawal from the Certificate Account. With respect to each Mortgage Loan or
Companion Loan for which it makes an Advance, the Trustee shall similarly keep
and maintain separate accounting for each Mortgage Loan or Companion Loan, on a
loan-by-loan and property-by-property basis, for the purpose of justifying any
request for withdrawal from the Certificate Account for reimbursements of
Advances or interest thereon.

            Upon the determination that a previously made Advance is a
Nonrecoverable Advance, instead of obtaining reimbursement out of general
collections immediately, the Master Servicer or the Trustee, as applicable, may,
in its sole discretion, elect to obtain reimbursement for such Nonrecoverable
Advance over time (not to exceed 12 months or such longer period of time as
agreed to by the Master Servicer or the Trustee, as applicable, and the
Controlling Class Representative, each in its sole discretion) and the
unreimbursed portion of such Advance will accrue interest at the Prime Rate. At
any time after such a determination to obtain reimbursement over time, the
Master Servicer, the Special Servicer or the Trustee, as applicable, may, in its
sole discretion and subject to the immediately following paragraph, decide to
obtain reimbursement immediately. The fact that a decision to recover such
Nonrecoverable Advances over time, or not to do so, benefits some Classes of
Certificateholders to the detriment of other Classes shall not, with respect to
the Master Servicer, constitute a violation of the Servicing Standard and/or
with respect to the Trustee, constitute a violation of any fiduciary duty to
Certificateholders or contractual duty hereunder.

            The Master Servicer or the Trustee, as applicable, shall give S&P
and Moody's at least 15 days notice prior to any reimbursement to it of
Nonrecoverable Advances from amounts in the Certificate Account allocable to
interest on the Mortgage Loans unless (1) the Master Servicer or the Trustee, as
applicable, determines in its sole discretion that waiting 15 days after such a
notice could jeopardize the Master Servicer's or the Trustee's ability, as
applicable, to recover such Nonrecoverable Advances, (2) changed circumstances
or new or different information becomes known to the Master Servicer or the
Trustee, as applicable, that could affect or cause a determination of whether
any Advance is a Nonrecoverable Advance, whether to defer reimbursement of a
Nonrecoverable Advance or the determination in clause (1) above, or (3) the
Master Servicer has not timely received from the Trustee information requested
by the Master Servicer to consider in determining whether to defer reimbursement
of a Nonrecoverable Advance; provided that if clause (1), (2) or (3) applies,
the Master Servicer or the Trustee, as applicable, shall give S&P and Moody's
notice of an anticipated reimbursement to it of Nonrecoverable Advances from
amounts in the Certificate Account or Distribution Account, as applicable,
allocable to interest on the Mortgage Loans as soon as reasonably practicable in
such circumstances. The Master Servicer and the Trustee, as applicable, shall
have no liability for any loss, liability or expense resulting from any notice
provided to S&P and Moody's contemplated by the immediately preceding sentence.

            If the Master Servicer or the Trustee, as applicable, is reimbursed
out of general collections for any unreimbursed Advances that are determined to
be Nonrecoverable Advances (together with any interest accrued and payable
thereon), then (for purposes of calculating distributions on the Certificates)
such reimbursement and payment of interest shall be deemed to have been made:
first, out of the Principal Distribution Amount, which, but for its application
to reimburse a Nonrecoverable Advance and/or to pay interest thereon, would be
included in the Available Distribution Amount, for any subsequent Distribution
Date, and second, out of other amounts which, but for their application to
reimburse a Nonrecoverable Advance and/or to pay interest thereon, would be
included in the Available Distribution Amount for any subsequent Distribution
Date. If and to the extent that any payment is deemed to be applied in
accordance with clause first above to reimburse a Nonrecoverable Advance or to
pay interest thereon, then the Principal Distribution Amount for such
Distribution Date shall be reduced, to not less than zero, by the amount of such
reimbursement. If and to the extent (i) any Advance is determined to be a
Nonrecoverable Advance, (ii) such Advance and/or interest thereon is reimbursed
out of the Principal Distribution Amount as contemplated by clause first of the
immediately preceding sentence and (iii) the particular item for which such
Advance was originally made is subsequently collected out of payments or other
collections in respect of the related Mortgage Loan, then the Principal
Distribution Amount for the Distribution Date that corresponds to the Collection
Period in which such item was recovered shall be increased by an amount equal to
the lesser of (A) the amount of such item and (B) any previous reduction in the
Principal Distribution Amount for a prior Distribution Date pursuant to clause
first above resulting from the reimbursement of the subject Advance and/or the
payment of interest thereon.

            (b) The Paying Agent may, from time to time, make withdrawals from
the Distribution Account for any of the following purposes (in no particular
order of priority):

            (i) to make deemed distributions to itself as holder of the REMIC I
      Regular Interests and to make distributions to Certificateholders on each
      Distribution Date, pursuant to Sections 4.01 and 9.01, as applicable;

            (ii) to pay the Trustee or any of its directors, officers, employees
      and agents, as the case may be, any amounts payable or reimbursable to any
      such Person pursuant to Section 8.05;

            (iii) to pay the Trustee the Trustee Fee as contemplated by Section
      8.05(a) hereof with respect to each Mortgage Loan and REO Loan and to pay
      the Trustee, as additional compensation, interest and investment income,
      if any, earned in respect of amounts held in the Distribution Account as
      provided in Section 3.06, but only to the extent of the Net Investment
      Earnings with respect to such account for the related Distribution Date;

            (iv) to pay for the cost of the Opinions of Counsel sought by the
      Trustee (A) as provided in clause (v) of the definition of "Disqualified
      Organization", (B) as contemplated by Section 3.20(d), 9.02(a) and
      10.01(h), or (C) as contemplated by Section 11.01(a) or 11.01(c) in
      connection with any amendment to this Agreement requested by the Trustee
      which amendment is in furtherance of the rights and interests of
      Certificateholders; provided that a portion of such costs shall be
      allocated pursuant to the 2006-C28 Pooling and Servicing Agreement and the
      related Intercreditor Agreement if such costs relate to the Newport Bluffs
      Whole Loan;

            (v) to pay any and all federal, state and local taxes imposed on
      REMIC I or REMIC II or on the assets or transactions of either such REMIC,
      together with all incidental costs and expenses, to the extent none of the
      Trustee, the REMIC Administrator, the Master Servicer or the Special
      Servicer is liable therefor pursuant to Section 10.01(i); provided that a
      portion of such amounts shall be allocated pursuant to the 2006-C28
      Pooling and Servicing Agreement and the related Intercreditor Agreement if
      such costs relate to the Newport Bluffs Whole Loan;

            (vi) to pay the REMIC Administrator any amounts reimbursable to it
      pursuant to Section 10.01(e); provided that a portion of such amounts
      shall be allocated pursuant to the 2006-C28 Pooling and Servicing
      Agreement and the related Intercreditor Agreement if such costs relate to
      the Newport Bluffs Whole Loan;

            (vii) to pay to the Master Servicer any amounts deposited by the
      Master Servicer in the Distribution Account not required to be deposited
      therein; and

            (viii) to clear and terminate the Distribution Account at the
      termination of this Agreement pursuant to Section 9.01.

            Taxes imposed on REMIC I or REMIC II shall be allocated to the
related REMIC.

            (c) The Companion Paying Agent may, from time to time, make
withdrawals from the Companion Distribution Account as contemplated by Section
4.01(k).

            (d) The Trustee shall on each P&I Advance Date to occur in March of
each year, and in the event the final Distribution Date occurs in February on
the P&I Advance Date to occur in such February, withdraw from the Interest
Reserve Account and deposit into the Distribution Account in respect of each
Interest Reserve Loan, an amount equal to the aggregate of the Interest Reserve
Amounts deposited into the Interest Reserve Account pursuant to Section 3.04(c)
during the immediately preceding Collection Period and, if applicable, the
second preceding Collection Period.

            (e) The Paying Agent shall, on any Distribution Date, make
withdrawals from the Additional Interest Account to the extent required to make
the distributions of Additional Interest required by Section 4.01(b).

            (f) The Paying Agent shall, on any Distribution Date, make
withdrawals from the Gain-On-Sale Reserve Account as contemplated by Section
4.01(k).

            (g) In the event that servicing advances have been made with respect
the 2006-C28 Serviced Mortgage Loan under the 2006-C28 Pooling and Servicing
Agreement, by the 2006-C28 Master Servicer, and in accordance with the 2006-C28
Pooling and Servicing Agreement, if a subsequent determination has been made
that such advance constitutes a nonrecoverable advance, the party that made such
advance shall be entitled to a reimbursement of such advance with interest
thereon as set forth in the 2006-C28 Pooling and Servicing Agreement, from
general collections on all Mortgage Loans in the Certificate Account (up to,
with respect to a servicing advance, the 2006-C28 Serviced Mortgage Loan's pro
rata share of such advance, or if the amount of such pro rata share, together
with amounts available from collections in the certificate account created under
the 2006-C28 Pooling and Servicing Agreement, is insufficient to reimburse the
party that made such advance, then up to the full amount of such advance made on
the 2006-C28 Serviced Mortgage Loan and interest thereon) subject, in each case,
to the terms of the related Intercreditor Agreement.

            (h) The Paying Agent shall withdraw the Interest Shortfall Amount
from the Interest Shortfall Account on the first P&I Advance Date only and
deposit such amount into the Distribution Account.

            Section 3.06. Investment of Funds in the Servicing Accounts, Reserve
Accounts, Certificate Account, Interest Reserve Account, Distribution Account,
Companion Distribution Account, Additional Interest Account, Gain-on-Sale
Reserve Account and REO Account.

            (a) The Master Servicer may direct in writing any depository
institution maintaining a Servicing Account, a Reserve Account or the
Certificate Account (each, for purposes of this Section 3.06, an "Investment
Account"); the Companion Paying Agent may direct in writing any depository
institution maintaining the Companion Distribution Account (also, for purposes
of this Section 3.06, an "Investment Account"); the Special Servicer may direct
in writing any depository institution maintaining the REO Account (also, for
purposes of this Section 3.06, an "Investment Account"); and the Trustee may
direct in writing any depository institution maintaining the Distribution
Account, the Gain-on-Sale Reserve Account, the Interest Reserve Account, the
Interest Shortfall Account or the Additional Interest Account (also, for
purposes of this Section 3.06, an "Investment Account") to invest, or if it is
such depository institution, may itself invest, the funds held therein only in
one or more Permitted Investments bearing interest or sold at a discount, and
maturing, unless payable on demand, no later than the Business Day immediately
preceding the next succeeding date on which such funds are required to be
withdrawn from such account pursuant to this Agreement. Funds held in the
Distribution Account, the Companion Distribution Account, the Additional
Interest Account, the Interest Reserve Account, the Interest Shortfall Account
and the Gain-on-Sale Reserve Account may remain uninvested. In the event that
the Master Servicer shall have failed to give investment directions for any
Servicing Account, any Reserve Account or the Certificate Account (exclusive of
any accounts as are held by the Master Servicer) or the Special Servicer shall
have failed to give investment directions for the REO Account by 11:00 a.m. New
York time on any Business Day on which there may be uninvested cash, such funds
held in the REO Account shall be invested in securities described in clause (i)
of the definition of the term "Permitted Investments"; and such funds held in
such other accounts shall be invested in securities described in clause (v) of
such definition. All such Permitted Investments shall be held to maturity,
unless payable on demand. Any investment of funds in an Investment Account shall
be made in the name of the Trustee (in its capacity as such). The Master
Servicer on behalf of the Trustee for the benefit of Certificateholders (with
respect to Permitted Investments of amounts in the Servicing Accounts, the
Reserve Accounts or the Certificate Account), the Special Servicer on behalf of
the Trustee for the benefit of Certificateholders (with respect to Permitted
Investments of amounts in the REO Account) and the Trustee (with respect to
Permitted Investments of amounts in the Distribution Account, the Gain-on-Sale
Reserve Account, the Interest Reserve Account, the Interest Shortfall Account or
the Additional Interest Account) for the benefit of the Certificateholders, and
the Companion Paying Agent with respect to the Companion Distribution Account,
shall (and the Trustee hereby designates the Master Servicer and the Special
Servicer, with respect to any Investment Account maintained by them, and itself,
with respect to the Distribution Account, the Additional Interest Account, the
Interest Reserve Account, the Interest Shortfall Account, and the Gain-on-Sale
Reserve Account, as applicable, as the Person that shall) maintain continuous
possession of any Permitted Investment that is either (i) a "certificated
security", as such term is defined in the UCC, or (ii) other property in which a
secured party may perfect its security interest by possession under the UCC or
any other applicable law. Possession of any such Permitted Investment by the
Master Servicer, the Special Servicer or the Trustee shall constitute possession
by the Trustee, as secured party, for purposes of Section 9-313 of the UCC and
any other applicable law. If amounts on deposit in an Investment Account are at
any time invested in a Permitted Investment payable on demand, the Master
Servicer (in the case of the Certificate Account, Servicing Accounts and Reserve
Accounts), the Special Servicer (in the case of the REO Account), the Trustee
(with respect to Permitted Investments of amounts in the Distribution Account,
the Gain-on-Sale Reserve Account, the Interest Reserve Account, the Interest
Shortfall Account and the Additional Interest Account) or the Companion Paying
Agent with respect to the Companion Distribution Account, shall:

            (i) consistent with any notice required to be given thereunder,
      demand that payment thereon be made on the last day such Permitted
      Investment may otherwise mature hereunder in an amount equal to the lesser
      of (1) all amounts then payable thereunder and (2) the amount required to
      be withdrawn on such date; and

            (ii) demand payment of all amounts due thereunder promptly upon
      determination by the Master Servicer, the Special Servicer or the Trustee,
      as the case may be, that such Permitted Investment would not constitute a
      Permitted Investment in respect of funds thereafter on deposit in the
      Investment Account.

            (b) Whether or not the Master Servicer directs the investment of
funds in any of the Servicing Accounts, the Reserve Accounts or the Certificate
Account, interest and investment income realized on funds deposited therein, to
the extent of the related Net Investment Earnings, if any, for each Collection
Period and, in the case of a Reserve Account or a Servicing Account, to the
extent not otherwise payable to the related Mortgagor in accordance with
applicable law or the related Mortgage Loan documents, shall be for the sole and
exclusive benefit of the Master Servicer and shall be subject to its withdrawal
in accordance with Section 3.03(a), 3.03(f) or 3.05(a), as applicable. Whether
or not the Special Servicer directs the investment of funds in the REO Account,
interest and investment income realized on funds deposited therein, to the
extent of the Net Investment Earnings, if any, for each Collection Period, shall
be for the sole and exclusive benefit of the Special Servicer and shall be
subject to its withdrawal in accordance with Section 3.16(b). Whether or not the
Trustee directs the investment of funds in the Distribution Account, the
Interest Reserve Account, the Interest Shortfall Account, the Additional
Interest Account or the Gain-on-Sale Reserve Account, interest and investment
income realized on funds deposited therein, to the extent of the Net Investment
Earnings, if any, for each related Distribution Date, shall be for the sole and
exclusive benefit of the Trustee and shall be subject to its (or the Paying
Agent's on its behalf) withdrawal in accordance with Section 3.05(b). If any
loss shall be incurred in respect of any Permitted Investment on deposit in any
Investment Account, the Master Servicer (in the case of the Servicing Accounts,
the Reserve Accounts and the Certificate Account, excluding any accounts
containing amounts invested solely for the benefit of, and at the direction of,
the Mortgagor under the terms of the Mortgage Loan or applicable law), the
Companion Paying Agent (in the case of the Companion Distribution Account), the
Special Servicer (in the case of the REO Account) and the Trustee (with respect
to Permitted Investments of amounts in the Distribution Account, the Additional
Interest Account, the Interest Reserve Account and the Gain-on-Sale Reserve
Account) shall promptly deposit therein from its own funds, without right of
reimbursement, no later than, in the case of the Master Servicer and Special
Servicer, the end of the Collection Period during which such loss was incurred
and in the case of the Trustee, no later than 12:00 noon, New York City time, on
the Distribution Date, the amount of the Net Investment Loss, if any, for such
Collection Period or on such Distribution Date; provided that none of the Master
Servicer, the Special Servicer or the Trustee shall be required to deposit any
loss on an investment of funds in an Investment Account if such loss is incurred
solely as a result of the insolvency of the federal or state chartered
depository institution or trust company that holds such Investment Account, so
long as such depository institution or trust company satisfied the
qualifications set forth in the definition of Eligible Account at the time such
investment was made.

            (c) Except as otherwise expressly provided in this Agreement, if any
default occurs in the making of a payment due under any Permitted Investment, or
if a default occurs in any other performance required under any Permitted
Investment and the Trustee, the Special Servicer or the Master Servicer fails to
deposit any losses with respect to such Permitted Investment pursuant to Section
3.06(b), the Trustee may (or, in the event of a default by the Trustee, the
Master Servicer or Special Servicer shall) and, subject to Section 8.02, upon
the request of Holders of Certificates entitled to not less than 25% of the
Voting Rights allocated to any Class, shall take such action as may be
appropriate to enforce such payment or performance, including the institution
and prosecution of appropriate proceedings.

            (d) Notwithstanding the investment of funds held in any Investment
Account, for purposes of the calculations hereunder, including, without
limitation, the calculation of the Available Distribution Amount, the amounts so
invested shall be deemed to remain on deposit in such Investment Account.

            Section 3.07. Maintenance of Insurance Policies; Errors and
Omissions and Fidelity Coverage.

            (a) The Master Servicer (with respect to Mortgage Loans and
Companion Loans to the extent that the Trust Fund has an insurable interest, but
other than with respect to the 2006-C28 Serviced Mortgage Loan and its related
Companion Loan) and the Special Servicer (with respect to REO Properties to the
extent that the Trust Fund has an insurable interest) shall, consistent with the
Servicing Standard, cause to be maintained for each Mortgaged Property all
insurance coverage as is required under the related Mortgage; provided that if
and to the extent that any such Mortgage permits the holder thereof any
discretion (by way of consent, approval or otherwise) as to the insurance
coverage that the related Mortgagor is required to maintain, the Master Servicer
shall exercise such discretion in a manner consistent with the Servicing
Standard; provided, further, if and to the extent that a Mortgage so permits,
the related Mortgagor shall be required to exercise its reasonable best efforts
to obtain the required insurance coverage from Qualified Insurers and required
insurance coverage obtained by the Master Servicer shall be from Qualified
Insurers. For the avoidance of doubt, REO Property with respect to the 2006-C28
Serviced Mortgage Loan is excluded for all purposes from this Section 3.07. The
cost of any such insurance coverage obtained by either the Master Servicer or
the Special Servicer shall be a Servicing Advance to be paid by the Master
Servicer pursuant to Section 3.03. Whether or not the applicable Mortgage Loan
documents require such insurance, the Majority Subordinate Certificateholder may
request that earthquake insurance be secured for one or more Mortgaged
Properties at the expense of the Majority Subordinate Certificateholder. Subject
to Section 3.17(a), the Special Servicer shall also cause to be maintained for
each REO Property no less insurance coverage than was previously required of the
Mortgagor under the related Mortgage; provided that all such insurance shall be
obtained from Qualified Insurers. All such insurance policies maintained by the
Master Servicer or the Special Servicer (i) shall contain (if they insure
against loss to property and do not relate to an REO Property) a "standard"
mortgagee clause, with loss payable to the Trustee or the Master Servicer on
behalf of the Trustee (in the case of insurance maintained in respect of
Mortgage Loans); (ii) shall be in the name of the Special Servicer (in the case
of insurance maintained in respect of REO Properties), on behalf of the Trustee;
(iii) shall be non-cancelable without 30 days' prior written notice to the
insured party; (iv) shall include coverage in an amount not less than the lesser
of (x) the full replacement cost of the improvements securing a Mortgaged
Property or REO Property, as applicable, or (y) the outstanding principal
balance owing on the related Mortgage Loan or REO Loan, as applicable, and in
any event, the amount necessary to avoid the operation of any co-insurance
provisions; (v) shall include a replacement cost endorsement providing no
deduction for depreciation (unless such endorsement is not permitted under the
related Mortgage Loan documents); (vi) shall include such other insurance,
including, to the extent available at commercially reasonable rates, earthquake
insurance, where applicable, as required under the applicable Mortgage or other
Mortgage Loan document; and (vii) in each case such insurance shall be issued by
an insurer authorized under applicable law to issue such insurance. Any amounts
collected by the Master Servicer or the Special Servicer under any such policies
(other than amounts to be applied to the restoration or repair of the related
Mortgaged Property or REO Property or amounts to be released to the related
Mortgagor, in each case subject to the rights of any tenants and ground lessors,
as the case may be, and in each case in accordance with the terms of the related
Mortgage and the Servicing Standard) shall be deposited in the Certificate
Account, subject to withdrawal pursuant to Section 3.05(a), in the case of
amounts received in respect of a Mortgage Loan or Companion Loan, or in the REO
Account, subject to withdrawal pursuant to Section 3.16(c), in the case of
amounts received in respect of an REO Property. Any cost incurred by the Master
Servicer or the Special Servicer in maintaining any such insurance shall not,
for purposes hereof, including, without limitation, calculating monthly
distributions to Certificateholders, be added to unpaid principal balance of the
related Mortgage Loan, notwithstanding that the terms of such Mortgage Loan or
Companion Loans so permit.

            Notwithstanding the foregoing, the Master Servicer or Special
Servicer, as applicable, will not be required to maintain (and in the case of
the Special Servicer, with respect to any Specially Serviced Mortgage Loan), and
shall not cause a Mortgagor to be in default with respect to the failure of the
related Mortgagor to obtain, all-risk casualty insurance which does not contain
any carve-out for terrorist or similar acts or windstorm coverage, if and only
if the Master Servicer with respect to non-Specially Serviced Mortgage Loans or
the Special Servicer with respect to Specially Serviced Mortgage Loans, in
consultation with the Controlling Class Representative, and, with respect to
each Co-Lender Loan (other than the 2006-C28 Serviced Mortgage Loan), in
consultation with the related Companion Holder if required under the applicable
Intercreditor Agreement, has determined in accordance with the Servicing
Standard that either (a) such insurance is not available at any rate or (b) such
insurance is not available at commercially reasonably rates (which determination
as to whether such insurance is available at commercially reasonable rates shall
be made by the Special Servicer in consultation with and subject to the approval
of the Controlling Class Representative with respect to all Mortgage Loans
(provided that the decision of the Controlling Class Representative regarding
the availability of insurance at commercially reasonable rates shall be
disregarded by the Special Servicer if such consent or lack of consent would
cause the Special Servicer to violate the Servicing Standard)) and that such
hazards are not at the time commonly insured against for properties similar to
the Mortgaged Property and located in or around the region in which such
Mortgaged Property is located and the Controlling Class Representative has
approved the decision not to require the Mortgagor to maintain terrorism
insurance or windstorm coverage (provided that the decision of the Controlling
Class Representative to grant or withhold such consent shall be disregarded by
the Special Servicer if such consent or lack of consent would cause the Master
Servicer or the Special Servicer, as applicable, to violate the Servicing
Standard); provided, however, the Controlling Class Representative's approval
shall be deemed to have been given if it has not responded within 5 Business
Days of receipt of the Master Servicer's or the Special Servicer's written
recommendation and the information upon which such recommendation is based;
provided, further, upon the Master Servicer's or the Special Servicer's
determination, as applicable, consistent with the Servicing Standard, that
exigent circumstances do not allow the Master Servicer or the Special Servicer
to consult with the Controlling Class Representative or Companion Holder, if
applicable, the Master Servicer or the Special Servicer, as applicable, shall
not be required to do so; provided, further, during the period that the Special
Servicer or Controlling Class Representative is evaluating such insurance
hereunder, the Master Servicer shall not be liable for any loss related to its
failure to require the Mortgagor to maintain terrorism insurance or windstorm
coverage and shall not be in default of its obligations hereunder as a result of
such failure. The Special Servicer shall promptly notify the Master Servicer of
each determination under this paragraph.

            (b) If the Master Servicer or the Special Servicer shall obtain and
maintain, or cause to be obtained and maintained, a blanket policy insuring
against hazard losses on all of the Mortgage Loans, Companion Loans and/or REO
Properties that it is required to service and administer, then, to the extent
such policy (i) is obtained from a Qualified Insurer and (ii) provides
protection equivalent to the individual policies otherwise required, the Master
Servicer or the Special Servicer, as the case may be, shall conclusively be
deemed to have satisfied its obligation to cause hazard insurance to be
maintained on the related Mortgaged Properties and/or REO Properties. Such
blanket policy may contain a deductible clause (not in excess of a customary
amount), in which case the Master Servicer or the Special Servicer, as
appropriate, shall, if there shall not have been maintained on the related
Mortgaged Property or REO Property a hazard insurance policy complying with the
requirements of Section 3.07(a), and there shall have been one or more losses
that would have been covered by such policy, promptly deposit into the
Certificate Account from its own funds the amount not otherwise payable under
the blanket policy because of such deductible clause. The Master Servicer or the
Special Servicer, as appropriate, shall prepare and present, on behalf of
itself, the Trustee and Certificateholders, claims under any such blanket policy
in a timely fashion in accordance with the terms of such policy.

            (c) Each of the Master Servicer and the Special Servicer shall at
all times during the term of this Agreement (or, in the case of the Special
Servicer, at all times during the term of this Agreement in which Specially
Serviced Mortgage Loans or REO Properties are part of the Trust Fund) keep in
force a fidelity bond with Qualified Insurers, such fidelity bond to be in such
form and amount as would permit it to be a qualified FNMA or FHLMC, whichever is
greater, seller-servicer of multifamily mortgage loans, or in such other form
and amount as would not cause the qualification, downgrading or withdrawal of
any rating assigned by any Rating Agency to the Certificates (as evidenced in
writing from each Rating Agency). Each of the Master Servicer and the Special
Servicer shall be deemed to have complied with the foregoing provision if an
Affiliate thereof has such fidelity bond coverage and, by the terms of such
fidelity bond, the coverage afforded thereunder extends to the Master Servicer
or the Special Servicer, as the case may be. Such fidelity bond shall provide
for ten days' written notice to the Trustee prior to any cancellation.

            Each of the Master Servicer and the Special Servicer shall at all
times during the term of this Agreement (or, in the case of the Special
Servicer, at all times during the term of this Agreement in which Specially
Serviced Mortgage Loans and/or REO Properties exist as part of the Trust Fund)
also keep in force with Qualified Insurers, a policy or policies of insurance
covering loss occasioned by the errors and omissions of its officers, employees
and agents in connection with its servicing obligations hereunder, which policy
or policies shall be in such form and amount as would permit it to be a
qualified FNMA seller-servicer of multifamily mortgage loans, or in such other
form and amount as would not cause the qualification, downgrade or withdrawal of
any rating assigned by any Rating Agency to the Certificates (as evidenced in
writing from each Rating Agency). Each of the Master Servicer and the Special
Servicer shall be deemed to have complied with the foregoing provisions if an
Affiliate thereof has such insurance and, by the terms of such policy or
policies, the coverage afforded thereunder extends to the Master Servicer or the
Special Servicer, as the case may be. Any such errors and omissions policy shall
provide for ten days' written notice to the Trustee prior to cancellation. The
Master Servicer and the Special Servicer shall each cause the Trustee to be an
additional loss payee on any policy currently in place or procured pursuant to
the requirements of this Section 3.07(c).

            For so long as the long-term debt obligations of the Master Servicer
or Special Servicer, as the case may be (or in the case of the initial Master
Servicer and Special Servicer, their respective direct or indirect parent), are
rated at least "A" or the equivalent by all of the Rating Agencies (or such
lower rating as will not result in qualification, downgrading or withdrawal of
the ratings then assigned to the Certificates, as evidenced in writing by the
Rating Agencies), such Person may self-insure with respect to the risks
described in this subsection.

            Section 3.08. Enforcement of Alienation Clauses.

            (a) (i) Upon receipt of any request of a waiver in respect of a
due-on-sale or due-on-encumbrance provision, the Master Servicer, with respect
to Mortgage Loans (other than the 2006-C28 Serviced Mortgage Loan) that are not
Specially Serviced Mortgage Loans, and the Special Servicer, with respect to
Specially Serviced Mortgage Loans, shall promptly analyze such waiver, including
the preparation of written materials in connection with such analysis, and will
close the related transaction, subject to the consent rights (if any) of each
Companion Holder pursuant to the related Intercreditor Agreement as provided in
this Section 3.08. With respect to all Mortgage Loans other than Specially
Serviced Mortgage Loans and the 2006-C28 Serviced Mortgage Loan, the Master
Servicer or, in the case of Specially Serviced Mortgage Loans, the Special
Servicer, on behalf of the Trustee as the mortgagee of record, shall, to the
extent permitted by applicable law, enforce the restrictions contained in the
related Mortgage on transfers or further encumbrances of the related Mortgaged
Property and on transfers of interests in the related Mortgagor, unless
following its receipt of a request of a waiver in respect of a due-on-sale or
due-on-encumbrance provision the Master Servicer (with the written consent of
the Special Servicer, which consent shall be deemed given if not denied within
the later of (a) 15 Business Days after the Special Servicer's receipt of the
written recommendation of the Master Servicer for such action and any additional
information the Special Servicer may reasonably request for the analysis of such
request (such recommendation and information may be delivered in an electronic
format reasonably acceptable to the Master Servicer and the Special Servicer)
and (b) 5 Business Days after the Controlling Class Representative's receipt of
the written recommendation of the Special Servicer for such action and any
additional information the Controlling Class Representative may reasonably
request for the analysis of such request, which notice shall be given by the
Special Servicer no later than 10 Business Days after the commencement of the 15
Business Day period described in the preceding clause (a)) or the Special
Servicer (with the written consent of the Controlling Class Representative,
which consent shall be deemed given if not denied within 5 Business Days after
the Controlling Class Representative's receipt of the written recommendation of
the Special Servicer for such action and any additional information the
Controlling Class Representative may reasonably request for the analysis of such
request), as applicable, has determined, consistent with the Servicing Standard,
that the waiver of such restrictions would be in accordance with the Servicing
Standard. Promptly after the Master Servicer (with the written consent of the
Special Servicer to the extent required in the preceding sentence) or the
Special Servicer (with the written consent of the Controlling Class
Representative to the extent required in the preceding sentence), as applicable,
has made any such determination, the Master Servicer or the Special Servicer
shall deliver to the Trustee, the Rating Agencies and each other party hereto an
Officer's Certificate setting forth the basis for such determination. Neither
the Master Servicer nor the Special Servicer shall exercise (and the Special
Servicer shall not consent to) any such waiver in respect of a
due-on-encumbrance provision of any Mortgage Loan (i) with respect to which the
aggregate of the Stated Principal Balance of such Mortgage Loan and the Stated
Principal Balance of all other Mortgage Loans that are cross-collateralized,
cross-defaulted or have been made to Mortgagors affiliated with the Mortgagor on
such Mortgage Loan, are one of the ten largest Mortgage Loans or concentrations
of Mortgage Loans, as of the date of such waiver request, without receiving
prior written confirmation from S&P and Moody's that such action would not
result in a downgrading, qualification or withdrawal of the ratings then
assigned to the Certificates or (ii) with respect to which (a) the aggregate of
the Stated Principal Balance of such Mortgage Loan and the Stated Principal
Balance of all other Mortgage Loans that are cross-collateralized,
cross-defaulted or have been made to Mortgagors affiliated with the Mortgagor on
such Mortgage Loan, is equal to or in excess of $20,000,000, (b) the aggregate
of the Stated Principal Balance of such Mortgage Loan and the Stated Principal
Balance of all other Mortgage Loans that are cross-collateralized,
cross-defaulted or have been made to Mortgagors affiliated with the Mortgagor on
such Mortgage Loan, are greater than 2% of the aggregate Stated Principal
Balance of all Mortgage Loans, (c) such Mortgage Loan is one of the ten largest
Mortgage Loans as of the date of the waiver (by Stated Principal Balance), or
(d) such Mortgage Loan has a Loan-to-Value Ratio (calculated to include the
additional indebtedness secured by any encumbrance) that is equal to or greater
than 85% and a Debt Service Coverage Ratio (calculated to include the additional
debt from any encumbrance) of 1.2x or less, without receiving a prior written
confirmation from S&P that such action would not result in a downgrading,
qualification or withdrawal of the ratings then assigned to the Certificates.
With respect to a waiver of a due-on-sale provision, neither the Master Servicer
nor the Special Servicer shall waive any such restriction without receiving
prior written confirmation from S&P and Moody's that such action would not
result in a downgrading, qualification or withdrawal of the ratings then
assigned to the Certificates; provided that if the Mortgage Loan (a) does not
have an aggregate Stated Principal Balance (including the Stated Principal
Balance of all other Mortgage Loans that are cross-collateralized,
cross-defaulted or have been made to Mortgagors affiliated with the Mortgagor on
such Mortgage Loan) equal to or in excess of $35,000,000 (or $25,000,000 with
respect to Moody's), (b) does not have an aggregate Stated Principal Balance
(including the Stated Principal Balance of all other Mortgage Loans that are
cross-collateralized, cross-defaulted or have been made to Mortgagors affiliated
with the Mortgagor on such Mortgage Loan) greater than 5% of the aggregate
Stated Principal Balance of all Mortgage Loans or (c) is not one of the ten
largest Mortgage Loans as of the date of the waiver (by Stated Principal
Balance), the Master Servicer or the Special Servicer, as applicable, may waive
such requirement without confirmation by S&P in accordance with the Servicing
Standard; provided, further, if the Mortgage Loan does not meet the criteria set
forth in clause (ii) of the immediately preceding sentence, the Master Servicer
or Special Servicer, as applicable, may waive such requirement without approval
by S&P or Moody's in accordance with the Servicing Standard; provided, further,
if the Mortgage Loan is not one of the ten largest Mortgage Loans (by Stated
Principal Balance, including all other Mortgage Loans that are
cross-collateralized and cross-defaulted with such Mortgage Loan) as of the date
of the waiver, the Master Servicer or Special Servicer, as applicable, may waive
such requirement without approval by Fitch in accordance with the Servicing
Standard. With respect to each Co-Lender Loan, no waiver of a due-on-sale or
due-on-encumbrance provision will be effective unless the Master Servicer or
Special Servicer, as applicable, first consults with the related Subordinate
Companion Holder if required under the applicable Intercreditor Agreement.

            (ii) With respect to any Tenants-in-Common Loan, the Master
      Servicer, on behalf of the Trustee as the mortgagee of record, shall
      review (A) each request for a sale, transfer or syndication of any
      Mortgagor's equity interests in the related Mortgagor and shall promptly
      analyze such request, including, with regard to each proposed Mortgagor
      transferee, the financial statements, credit information, organizational
      documents and other written materials set forth on the applicable schedule
      on Exhibit Z hereto, to determine, in accordance with the Servicing
      Standard, whether the requested sale, transfer or syndication meets the
      applicable requirements and to obtain any consents required under any
      related Intercreditor Agreement, and (B) the corresponding waiver of any
      applicable due-on-sale or due-on-encumbrance provision and determine
      whether approval of such waiver is consistent with the Servicing Standard.
      Promptly after the Master Servicer has made any such affirmative
      determination that such sale, transfer or syndication meets the applicable
      requirements on Exhibit Z hereto, the Master Servicer shall deliver to the
      Special Servicer, the Trustee, the Rating Agencies and each other party
      hereto, no later than 5 Business Days prior to such sale, transfer or
      syndication, an Officer's Certificate in the form of Exhibit AA hereto
      setting forth notice of the approval or disapproval and the basis for such
      determination, including evidence of compliance with each of the
      requirements for such Mortgage Loan described on Exhibit Z hereto;
      provided, further, it is understood and agreed that the Master Servicer
      shall make reasonable efforts to deliver a complete package 5 Business
      Days prior to such sale, transfer or syndication (provided, however, any
      documents not delivered with the Officer's Certificate will be delivered
      by the Master Servicer as soon as reasonably possible, and the Special
      Servicer shall rely on the initial documents sent in such package and the
      Officer's Certificate delivered by the Master Servicer for its review).

            (b) Notwithstanding any other provisions of this Section 3.08, the
Master Servicer (with respect to Mortgage Loans other than Specially Serviced
Mortgage Loans and the 2006-C28 Serviced Mortgage Loan) (without the Special
Servicer's consent) or the Special Servicer (with respect to Specially Serviced
Mortgage Loans) may grant, without any Rating Agency confirmation as provided in
paragraph (a) above, a Mortgagor's request for consent to subject the related
Mortgaged Property to an easement or right-of-way for utilities, access,
parking, public improvements or another purpose, and may consent to
subordination of the related Mortgage Loan to such easement or right-of-way;
provided the Master Servicer or the Special Servicer, as applicable, shall have
determined in accordance with the Servicing Standard that such easement or
right-of-way shall not materially interfere with the then-current use of the
related Mortgaged Property, or the security intended to be provided by such
Mortgage, the related Mortgagor's ability to repay the Mortgage Loan, or
materially or adversely affect the value of such Mortgaged Property or cause the
Mortgage Loan to cease to be a "qualified mortgage" for REMIC purposes.

            (c) Within 90 days of the Closing Date, with respect to each of the
Mortgage Loans (other than the 2006-C28 Serviced Mortgage Loan) covered by an
environmental insurance policy, if any, the Master Servicer shall notify the
insurer under such environmental insurance policy and take all other action
necessary for the Trustee, on behalf of the Certificateholders, to be an insured
(and for the Master Servicer, on behalf of the Trust Fund, to make claims) under
such environmental insurance policy. In the event that the Master Servicer has
actual knowledge of any event (an "Insured Environmental Event") giving rise to
a claim under any environmental insurance policy in respect of any Mortgage Loan
covered thereby, the Master Servicer shall, in accordance with the terms of such
environmental insurance policy and the Servicing Standard, timely make a claim
thereunder with the appropriate insurer and shall take such other actions in
accordance with the Servicing Standard which are necessary under such
environmental insurance policy in order to realize the full value thereof for
the benefit of the Certificateholders. Any legal fees, premiums or other
out-of-pocket costs incurred in accordance with the Servicing Standard in
connection with any such claim under an environmental insurance policy shall be
paid by the Master Servicer and shall be reimbursable to it as a Servicing
Advance. With respect to each environmental insurance policy that relates to one
or more Mortgage Loans (other than the 2006-C28 Serviced Mortgage Loan), the
Master Servicer shall review and familiarize itself with the terms and
conditions relating to enforcement of claims and shall monitor the dates by
which any claim must be made or any action must be taken under such policy to
realize the full value thereof for the benefit of the Certificateholders in the
event the Master Servicer has actual knowledge of an Insured Environmental Event
giving rise to a claim under such policy.

            In the event that the Master Servicer receives notice of any
termination of any environmental insurance policy that relates to one or more
Mortgage Loans (other than the 2006-C28 Serviced Mortgage Loan), the Master
Servicer shall, within five Business Days after receipt of such notice, notify
the Special Servicer, the Controlling Class Representative, the related
Companion Holder (in the case of a Co-Lender Loan), the Rating Agencies and the
Trustee of such termination in writing. Upon receipt of such notice, the Master
Servicer with respect to non-Specially Serviced Mortgage Loans (other than the
2006-C28 Serviced Mortgage Loan), and the Special Servicer with respect to
Specially Serviced Mortgage Loans, shall address such termination in accordance
with Section 3.07(a) in the same manner as it would the termination of any other
Insurance Policy required under the related Mortgage Loan documents. Any legal
fees, premiums or other out-of-pocket costs incurred in accordance with the
Servicing Standard in connection with a resolution of such termination of an
environmental insurance policy shall be paid by the Master Servicer and shall be
reimbursable to it as a Servicing Advance.

            (d) For the avoidance of doubt, any servicing obligation set forth
under this Section 3.08 of the Master Servicer or Special Servicer, as
applicable, for any Co-Lender Loan shall also apply to the related Companion
Loan.

            Section 3.09. Realization Upon Defaulted Mortgage Loans; Required
Appraisals.

            (a) The Special Servicer shall, subject to Sections 3.09(b) through
3.09(d) and Section 6.11, exercise reasonable efforts, consistent with the
Servicing Standard, to foreclose upon or otherwise comparably convert the
ownership of properties securing such of the Mortgage Loans or Companion Loans
(other than the 2006-C28 Serviced Mortgage Loan and its related Companion Loan)
as come into and continue in default and as to which no satisfactory
arrangements can be made for collection of delinquent payments, including,
without limitation, pursuant to Section 3.20. Subject to the second paragraph of
Section 3.03(c), the Master Servicer shall advance all costs and expenses (other
than costs or expenses that would, if incurred, constitute a Nonrecoverable
Servicing Advance) incurred by the Special Servicer in any such proceedings, and
shall be entitled to reimbursement therefor as provided in Section 3.05(a).
Nothing contained in this Section 3.09 shall be construed so as to require the
Special Servicer, on behalf of the Trust Fund, to make a bid on any Mortgaged
Property at a foreclosure sale or similar proceeding that is in excess of the
fair market value of such property, as determined by the Special Servicer in
accordance with the Servicing Standard and in its reasonable and good faith
judgment taking into account, as applicable, among other factors, the period and
amount of any delinquency on the affected Mortgage Loan or Companion Loan, the
occupancy level and physical condition of the Mortgaged Property or REO
Property, the state of the local economy, the obligation to dispose of any REO
Property within the time period specified in Section 3.16(a) and the results of
any appraisal obtained pursuant to the following sentence, all such bids to be
made in a manner consistent with the Servicing Standard. If and when the Master
Servicer or the Special Servicer deems it necessary and prudent for purposes of
establishing the fair market value of any Mortgaged Property securing a
Defaulted Mortgage Loan or defaulted Companion Loan, whether for purposes of
bidding at foreclosure or otherwise, it may, at the expense of the Trust Fund,
have an appraisal performed with respect to such property by an Independent
Appraiser or other expert in real estate matters; which appraisal shall take
into account, as applicable, among other factors, the period and amount of any
delinquency on the affected Mortgage Loan, the occupancy level and physical
condition of the Mortgaged Property or REO Property, the state of the local
economy and the obligation to dispose of any REO Property within the time period
specified in Section 3.16(a), including without limitation, any environmental,
engineering or other third party reports available, and other factors that a
prudent real estate appraiser would consider.

            With respect to each Required Appraisal Mortgage Loan (other than
the 2006-C28 Serviced Mortgage Loan), the Special Servicer will be required to
obtain a Required Appraisal (or with respect to any Mortgage Loan with an
outstanding principal balance less than $2,000,000, an internal valuation
performed by the Special Servicer) within 60 days of a Mortgage Loan becoming a
Required Appraisal Mortgage Loan (unless an appraisal meeting the requirements
of a Required Appraisal was obtained for such Required Appraisal Mortgage Loan
within the prior 12 months and the Special Servicer has no actual knowledge of a
material adverse change in the condition of the related Mortgaged Property in
which case such appraisal may be a letter update of the Required Appraisal) and
thereafter shall obtain a Required Appraisal (or with respect to any Mortgage
Loan with an outstanding principal balance less than $2,000,000, and in lieu of
an Appraisal, an internal valuation performed by the Special Servicer) once
every 12 months (or sooner if the Special Servicer has actual knowledge of a
material adverse change in the condition of the related Mortgaged Property) if
such Mortgage Loan remains a Required Appraisal Mortgage Loan. The Special
Servicer will deliver a copy of each Required Appraisal (or letter update or
internal valuation) to the Master Servicer, the Controlling Class Representative
and the Trustee (and, if such Required Appraisal Mortgage Loan is a Co-Lender
Loan, to the related Companion Holder) within 10 Business Days of obtaining such
Required Appraisal (or letter update or internal valuation). Subject to the
second paragraph of Section 3.03(c), the Master Servicer shall advance the cost
of such Required Appraisal; provided, however, such expense will be subject to
reimbursement to the Master Servicer as a Servicing Advance out of the
Certificate Account pursuant to Section 3.05(a)(vi) and 3.05(a)(vii).

            Notwithstanding the foregoing, in no event shall the Master Servicer
or the Special Servicer obtain an appraisal of a Companion Loan pursuant to this
Section 3.09(a) to the extent the related Co-Lender Loan has been paid in full.

            (b) The Special Servicer shall not acquire any personal property
pursuant to this Section 3.09 unless either:

            (i) such personal property is incident to real property (within the
      meaning of Section 856(e)(1) of the Code) so acquired by the Special
      Servicer; or

            (ii) the Special Servicer shall have obtained an Opinion of Counsel
      (the cost of which may be withdrawn from the Certificate Account pursuant
      to Section 3.05(a)) to the effect that the holding of such personal
      property as part of the Trust Fund (to the extent not allocable to a
      Companion Loan) will not cause the imposition of a tax on either of REMIC
      I or REMIC II under the REMIC Provisions or cause either of REMIC I or
      REMIC II to fail to qualify as a REMIC at any time that any Certificate is
      outstanding.

            (c) Notwithstanding the foregoing provisions of this Section 3.09,
neither the Master Servicer nor the Special Servicer shall, on behalf of the
Trustee (which may include through a single member limited liability company
owned by the Trust), initiate foreclosure proceedings, obtain title to a
Mortgaged Property by deed in lieu of foreclosure or otherwise, or take any
other action with respect to any Mortgaged Property, if, as a result of any such
action, the Trustee, on behalf of the Certificateholders, could, in the
reasonable judgment of the Master Servicer or the Special Servicer, as the case
may be, made in accordance with the Servicing Standard, be considered to hold
title to, to be a "mortgagee-in-possession" of, or to be an "owner" or
"operator" of such Mortgaged Property within the meaning of CERCLA or any
comparable law (a "potentially responsible party"), unless (as evidenced by an
Officer's Certificate to such effect delivered to the Trustee that shall specify
all of the bases for such determination) the Special Servicer has previously
determined in accordance with the Servicing Standard, and based on an
Environmental Assessment of such Mortgaged Property performed by an Independent
Person who regularly conducts Environmental Assessments and performed within six
months prior to any such acquisition of title or other action (a copy of which
Environmental Assessment shall be delivered to the Trustee, the Controlling
Class Representative and the Master Servicer), that:

            (i) the Mortgaged Property is in compliance with applicable
      environmental laws and regulations or, if not, that it would maximize the
      recovery to the Certificateholders on a present value basis (the relevant
      discounting of anticipated collections that will be distributable to
      Certificateholders to be performed at the related Net Mortgage Rate) to
      acquire title to or possession of the Mortgaged Property and to take such
      actions as are necessary to bring the Mortgaged Property into compliance
      therewith in all material respects; and

            (ii) there are no circumstances or conditions present at the
      Mortgaged Property relating to the use, management or disposal of
      Hazardous Materials for which investigation, testing, monitoring,
      containment, clean-up or remediation could be required under any
      applicable environmental laws and regulations or, if such circumstances or
      conditions are present for which any such action could reasonably be
      expected to be required, that it would maximize the recovery to the
      Certificateholders on a present value basis (the relevant discounting of
      anticipated collections that will be distributable to Certificateholders
      to be performed at the related Net Mortgage Rate) to acquire title to or
      possession of the Mortgaged Property and to take such actions with respect
      to the affected Mortgaged Property.

            The Special Servicer shall undertake, in good faith, reasonable
efforts to make the determination referred to in the preceding paragraph and may
conclusively rely on the Environmental Assessment referred to above in making
such determination. The cost of any such Environmental Assessment, as well as
the cost of any remedial, corrective or other further action contemplated by
clause (i) and/or clause (ii) of the preceding paragraph shall be at the expense
of the Trust Fund (except to the extent that such Additional Trust Fund Expense
is payable out of the proceeds of any Companion Loan pursuant to the related
Intercreditor Agreement and this Agreement); and if any such Environmental
Assessment so warrants, the Special Servicer shall perform such additional
environmental testing as it deems necessary and prudent to determine whether the
conditions described in clauses (i) and (ii) of the preceding paragraph have
been satisfied, the cost of which shall be at the expense of the Trust Fund.

            (d) If the environmental testing contemplated by Section 3.09(c)
above establishes that any of the conditions set forth in clauses (i) and (ii)
thereof has not been satisfied with respect to any Mortgaged Property securing a
Defaulted Mortgage Loan (other than the 2006-C28 Serviced Mortgage Loan) and
there is no breach of a representation or warranty requiring repurchase under
the applicable Mortgage Loan Purchase Agreement, the Special Servicer shall take
such action as is in accordance with the Servicing Standard (other than
proceeding against the Mortgaged Property) and, at such time as it deems
appropriate, may, on behalf of the Trustee, release all or a portion of such
Mortgaged Property from the lien of the related Mortgage; provided that if such
Mortgage Loan has a then outstanding principal balance of greater than
$1,000,000, then prior to the release of all or a portion of the related
Mortgaged Property from the lien of the related Mortgage, (i) the Special
Servicer shall have notified the Rating Agencies, the Trustee, the Controlling
Class Representative and the Master Servicer in writing of its intention to so
release all or a portion of such Mortgaged Property and the bases for such
intention, (ii) the Trustee shall have notified the Certificateholders in
writing of the Special Servicer's intention to so release all or a portion of
such Mortgaged Property and (iii) the Holders of Certificates entitled to a
majority of the Voting Rights shall have consented to such release within 30
days of the Trustee's distributing such notice (failure to respond by the end of
such 30-day period being deemed consent).

            (e) The Special Servicer shall report to the Master Servicer, the
Controlling Class Representative and the Trustee monthly in writing as to any
actions taken by the Special Servicer with respect to any Mortgaged Property
that represents security for a Defaulted Mortgage Loan as to which the
environmental testing contemplated in Section 3.09(c) above has revealed that
any of the conditions set forth in clauses (i) and (ii) thereof has not been
satisfied, in each case until the earlier to occur of satisfaction of all such
conditions and release of the lien of the related Mortgage on such Mortgaged
Property.

            (f) The Special Servicer shall have the right to determine, in
accordance with the Servicing Standard, the advisability of seeking to obtain a
deficiency judgment if the state in which the Mortgaged Property is located and
the terms of the Mortgage Loan or Companion Loan permit such an action and
shall, in accordance with the Servicing Standard, seek such deficiency judgment
if it deems advisable.

            (g) The Master Servicer shall, with the reasonable cooperation of
the Special Servicer, prepare and file information returns with respect to
reports of foreclosures and abandonments of any Mortgaged Property and the
information returns relating to any Mortgaged Property securing a Mortgage Loan
(other than the 2006-C28 Serviced Mortgage Loan) and, if applicable, Companion
Loan required by Sections 6050J and 6050P of the Code and each year deliver to
the Trustee an Officer's Certificate stating that such reports have been filed.
Such reports shall be in form and substance sufficient to meet the reporting
requirements imposed by Sections 6050J and 6050P of the Code.

            (h) The Special Servicer shall maintain accurate records, prepared
by a Servicing Officer, of each Final Recovery Determination in respect of any
Mortgage Loan, Companion Loan or REO Property (other than with respect to the
2006-C28 Serviced Mortgage Loan) and the basis thereof. Each Final Recovery
Determination shall be evidenced by an Officer's Certificate (together with the
basis and back-up documentation for the determination) delivered to the Trustee,
the Controlling Class Representative and the Master Servicer no later than the
third Business Day following such Final Recovery Determination.

            (i) Upon reasonable request of the Master Servicer, the Special
Servicer shall deliver to it and the related Sub-Servicer any other information
and copies of any other documents in its possession with respect to a Specially
Serviced Mortgage Loan or the related Mortgaged Property.

            Section 3.10. Trustee and Custodian to Cooperate; Release of
Mortgage Files.

            (a) Upon the payment in full of any Mortgage Loan, or the receipt by
the Master Servicer of a notification that payment in full shall be escrowed in
a manner customary for such purposes, the Master Servicer shall promptly notify
the Trustee in writing, who shall release or cause the related Custodian to
release, by a certification (which certification shall be in the form of a
Request for Release in the form of Exhibit D-1 attached hereto and shall be
accompanied by the form of a release or discharge and shall include a statement
to the effect that all amounts received or to be received in connection with
such payment which are required to be deposited in the Certificate Account
pursuant to Section 3.04(a) have been or will be so deposited) of a Servicing
Officer (a copy of which certification shall be delivered to the Special
Servicer) and shall request delivery to it of the related Mortgage File. Upon
receipt of such certification and request, the Trustee shall release, or cause
any related Custodian to release, the related Mortgage File to the Master
Servicer and shall deliver to the Master Servicer such release or discharge,
duly executed. No expenses incurred in connection with any instrument of
satisfaction or deed of reconveyance shall be chargeable to the Certificate
Account or the Distribution Account.

            (b) If from time to time, and as appropriate for servicing or
foreclosure of any Mortgage Loan (including any related Companion Loan), the
Master Servicer or the Special Servicer shall otherwise require any Mortgage
File (or any portion thereof), the Trustee, upon request of the Master Servicer
and receipt from the Master Servicer of a Request for Release in the form of
Exhibit D-1 attached hereto signed by a Servicing Officer thereof, or upon
request of the Special Servicer and receipt from the Special Servicer of a
Request for Release in the form of Exhibit D-2 attached hereto, shall release,
or cause any related Custodian to release, such Mortgage File (or portion
thereof) to the Master Servicer or the Special Servicer, as the case may be.
Upon return of such Mortgage File (or portion thereof) to the Trustee or related
Custodian, or the delivery to the Trustee of a certificate of a Servicing
Officer of the Special Servicer stating that such Mortgage Loan was liquidated
and that all amounts received or to be received in connection with such
liquidation that are required to be deposited into the Certificate Account
pursuant to Section 3.04(a) have been or will be so deposited, or that such
Mortgage Loan has become an REO Property, a copy of the Request for Release
shall be released by the Trustee or related Custodian to the Master Servicer or
the Special Servicer, as applicable.

            (c) Within seven Business Days (or within such shorter period (but
no less than 3 Business Days) as execution and delivery can reasonably be
accomplished if the Special Servicer notifies the Trustee of an exigency) of the
Special Servicer's request therefor, the Trustee shall execute and deliver to
the Special Servicer (or the Special Servicer may, subject to Section 3.01(b),
execute and deliver in the name of the Trustee based on a limited power of
attorney issued in favor of the Special Servicer pursuant to Section 3.01(b)),
in the form supplied to the Trustee, any court pleadings, requests for trustee's
sale or other documents stated by the Special Servicer to be reasonably
necessary to the foreclosure or trustee's sale in respect of a Mortgaged
Property or REO Property or to any legal action brought to obtain judgment
against any Mortgagor on the Mortgage Note (including any note evidencing a
related Companion Loan) or Mortgage or to obtain a deficiency judgment, or to
enforce any other remedies or rights provided by the Mortgage Note or Mortgage
or otherwise available at law or in equity or to defend any legal action or
counterclaim filed against the Trust Fund, the Master Servicer or the Special
Servicer. Together with such documents or pleadings, the Special Servicer shall
deliver to the Trustee a certificate of a Servicing Officer requesting that such
pleadings or documents be executed by the Trustee and certifying as to the
reason such documents or pleadings are required and that the execution and
delivery thereof by the Trustee will not invalidate or otherwise affect the lien
of the Mortgage, except for the termination of such a lien upon completion of
the foreclosure or trustee's sale.

            Section 3.11. Servicing Compensation.

            (a) As compensation for its activities hereunder, the Master
Servicer shall be entitled to receive the Master Servicing Fee with respect to
each Mortgage Loan (including each Specially Serviced Mortgage Loan) and REO
Loan. No Master Servicing Fee shall be payable with respect to any Companion
Loan unless such fee is expressly set forth in the related Intercreditor
Agreement. As to each such Mortgage Loan and REO Loan, the Master Servicing Fee
shall accrue at the related Master Servicing Fee Rate and on the same principal
amount respecting which the related interest payment due on such Mortgage Loan
or deemed to be due on such REO Loan is computed and calculated on the basis of
a 360-day year consisting of twelve 30-day months (or, in the event of a
Principal Prepayment in full or other Liquidation Event with respect to a
Mortgage Loan or REO Loan, on the basis of the actual number of days to elapse
from and including the related Due Date to but excluding the date of such
Principal Prepayment or Liquidation Event in a month consisting of 30 days). The
Master Servicing Fee with respect to the 2006-C28 Serviced Mortgage Loan will be
set forth on the Mortgage Loan Schedule. The Master Servicing Fee with respect
to any Mortgage Loan or REO Loan shall cease to accrue if a Liquidation Event
occurs in respect thereof. Earned but unpaid Master Servicing Fees shall be
payable monthly, on a loan-by-loan basis, from payments of interest on each
Mortgage Loan and REO Revenues allocable as interest on each REO Loan. The
Master Servicer shall be entitled to recover unpaid Master Servicing Fees in
respect of any Mortgage Loan or REO Loan out of that portion of related
Insurance Proceeds or Liquidation Proceeds allocable as recoveries of interest,
to the extent permitted by Section 3.05(a)(iii) and otherwise as provided in
Section 3.05(a)(vii). The right to receive the Master Servicing Fee may not be
transferred in whole or in part except in connection with the transfer of all of
the Master Servicer's responsibilities and obligations under this Agreement.

            (b) Additional servicing compensation in the form of: (i) all late
payment charges, Penalty Interest, assumption application fees if the related
assumption is completed, Tenant-in-Common Loan transfer and assumption
application fees if the related transfer and assumption application is completed
and an assumption fee is collected on such Tenant-in-Common Loan, modification
fees for modifications to Mortgage Loans or Companion Loans that are not
Specially Serviced Mortgage Loans made by the Master Servicer pursuant to
Section 3.20(i), defeasance fees, charges for beneficiary statements or demands,
amounts collected for checks returned for insufficient funds and any similar
fees (excluding Prepayment Premiums or Yield Maintenance Charges), in each case
to the extent actually paid by a Mortgagor with respect to a Mortgage Loan or
Companion Loan and, with respect to late payment charges and penalty charges,
accrued during the time that such Mortgage Loan or Companion Loan was not a
Specially Serviced Mortgage Loan, and (ii) fifty percent (50%) of (A) any
assumption fees or Tenant-in-Common Loan assumption fees and (B) any assumption
application fees and Tenant-in-Common Loan transfer and assumption application
fees if the related assumption or Tenant-in-Common Loan transfer and assumption
fails to be completed or no assumption fee is collected with respect to a
Tenant-In-Common Loan, in each case to the extent actually paid by a Mortgagor
with respect to any Mortgage Loan or Companion Loan if such Mortgage Loan or
Companion Loan is not a Specially Serviced Mortgage Loan, may be retained by the
Master Servicer and are not required to be deposited in the Certificate Account;
provided that the Master Servicer's right to receive late payment charges and
Penalty Interest pursuant to clause (i) above shall be limited to the portion of
such items that have not been applied to pay interest on Advances as provided in
Sections 3.03(d) and 4.03(d) or Additional Trust Fund Expenses (other than
Special Servicing Fees, Workout Fees and/or Liquidation Fees) or interest on
Advances pursuant to this Section 3.11(b). To the extent the Master Servicer or
the Special Servicer receives late payment charges or Penalty Interest on a
Mortgage Loan for which interest on Advances or Additional Trust Fund Expenses
(other than Special Servicing Fees, Workout Fees and/or Liquidation Fees)
related to such Mortgage Loan and not previously reimbursed to the Trust Fund,
the Master Servicer shall deposit in the Certificate Account, on or prior to the
P&I Advance Date following the collection of such late payment charges or
Penalty Interest, an amount equal to the lesser of (i) the amount of late
payment charges or Penalty Interest received on such Mortgage Loan or (ii) the
sum of the amount of interest paid to the Master Servicer on Advances related to
such Mortgage Loan since the Closing Date for which the Trust Fund has not been
previously reimbursed and the amount of Additional Trust Fund Expenses (other
than Special Servicing Fees, Workout Fees and/or Liquidation Fees) related to
such Mortgage Loan incurred since the Closing Date and not previously reimbursed
to the Trust Fund. To the extent that the Master Servicer is not entitled to
late payment charges or Penalty Interest pursuant to the immediately preceding
sentence, the Master Servicer shall deposit such late payment charges and
Penalty Interest in the Certificate Account. Penalty Interest or late payment
charges in respect of any Mortgage Loan or Companion Loan which has accrued
during the period when the related Mortgage Loan or Companion Loan is not a
Specially Serviced Mortgage Loan shall be additional compensation to the Master
Servicer even if collected during the period when the related Mortgage Loan or
Companion Loan is a Specially Serviced Mortgage Loan. The Master Servicer shall
also be entitled to additional servicing compensation in the form of (i)
Prepayment Interest Excesses; (ii) interest or other income earned on deposits
in the Certificate Account and the Interest Reserve Account, in accordance with
Section 3.06(b) (but only to the extent of the Net Investment Earnings, if any,
with respect to such account for each Collection Period), and (iii) to the
extent not required to be paid to any Mortgagor under applicable law or the
terms of the related Mortgage Loan or Companion Loan, any interest or other
income earned on deposits in the Reserve Accounts and Servicing Accounts
maintained thereby.

            The Master Servicer shall be required to pay out of its own funds
all expenses incurred by it in connection with its servicing activities
hereunder (including, without limitation, payment of any amounts due and owing
to any of its Sub-Servicers and the premiums for any blanket policy insuring
against hazard losses pursuant to Section 3.07(b)), if and to the extent such
expenses are not payable directly out of the Certificate Account, and the Master
Servicer shall not be entitled to reimbursement therefor except as expressly
provided in this Agreement. The Master Servicer shall not waive or agree to any
discount of any portion of assumption fees to which the Special Servicer is
entitled.

            (c) As compensation for its activities hereunder, the Special
Servicer shall be entitled to receive the Special Servicing Fee with respect to
each Specially Serviced Mortgage Loan and each REO Loan (other than the 2006-C28
Serviced Mortgage Loan and the related REO Loan, if any). As to each Specially
Serviced Mortgage Loan and REO Loan, the Special Servicing Fee shall accrue at
the Special Servicing Fee Rate and on the same principal amount respecting which
the related interest payment due on such Specially Serviced Mortgage Loan or
deemed to be due on such REO Loan is computed and calculated on the basis of a
360-day year consisting of twelve 30-day months (or, in the event of a Principal
Prepayment in full or other Liquidation Event with respect to a Mortgage Loan or
REO Loan, on the basis of the actual number of days to elapse from and including
the related Due Date to but excluding the date of such Principal Prepayment or
Liquidation Event in a month consisting of 30 days). The Special Servicing Fee
with respect to any Specially Serviced Mortgage Loan or REO Loan shall cease to
accrue as of the date a Liquidation Event occurs in respect thereof or it
becomes a Corrected Mortgage Loan. Earned but unpaid Special Servicing Fees
shall be payable monthly out of general collections on the Mortgage Loans,
Companion Loans and any REO Properties on deposit in the Certificate Account
pursuant to Section 3.05(a).

            As further compensation for its activities hereunder, the Special
Servicer shall be entitled to receive the Workout Fee with respect to each
Corrected Mortgage Loan, so long as such loan remains a Corrected Mortgage Loan.
As to each Corrected Mortgage Loan, the Workout Fee shall be payable out of, and
shall be calculated by application of the Workout Fee Rate to, each collection
of interest (other than Additional Interest and Penalty Interest) and principal
received on such Mortgage Loan or Companion Loan for so long as it remains a
Corrected Mortgage Loan (net of any portion of such collection payable or
reimbursable to the Master Servicer, the Special Servicer, or the Trustee for
any related unpaid or unreimbursed Master Servicing Fees and/or Advances)
received on such Mortgage Loan or Companion Loan for so long as it remains a
Corrected Mortgage Loan. The Workout Fee with respect to any Corrected Mortgage
Loan will cease to be payable if a Servicing Transfer Event occurs with respect
thereto or if the related Mortgaged Property becomes an REO Property; provided
that a new Workout Fee would become payable if and when such Mortgage Loan and,
if applicable, Companion Loan again became a Corrected Mortgage Loan. If the
Special Servicer is terminated or resigns, it will retain the right to receive
any and all Workout Fees payable with respect to any Specially Serviced Mortgage
Loan that became a Corrected Mortgage Loan during the period that it acted as
Special Servicer and remained a Corrected Mortgage Loan at the time of its
termination or resignation or if the Special Servicer resolved the circumstances
and/or conditions (including by way of a modification of the related Mortgage
Loan documents) causing the Mortgage Loan to be a Specially Serviced Mortgage
Loan, but the Mortgage Loan had not as of the time the Special Servicer is
terminated or resigns become a Corrected Mortgage Loan because the related
Mortgagor had not made three consecutive monthly debt service payments (but made
the most recent monthly debt service payment prior to the termination of the
Special Servicer) and subsequently becomes a Corrected Mortgage Loan as a result
of making three such consecutive payments. The successor Special Servicer will
not be entitled to any portion of those Workout Fees.

            In addition, with respect to each Specially Serviced Mortgage Loan
and REO Loan (other than the 2006-C28 Serviced Mortgage Loan) or Mortgage Loan
subject to repurchase by the applicable Mortgage Loan Seller (to the extent such
Mortgage Loan was not repurchased within the cure period specified in the
related Mortgage Loan Purchase Agreement) (or Qualified Substitute Mortgage Loan
substituted in lieu thereof), the Special Servicer shall be entitled to the
Liquidation Fee payable out of, and calculated by application of the Liquidation
Fee Rate to, all amounts (whether in the form of payments of Liquidation
Proceeds or REO Revenues or a full or discounted payoff by the Mortgagor)
received in respect of such Mortgage Loan or Companion Loan (or, in the case of
an REO Loan (other than the 2006-C28 Serviced Mortgage Loan) in respect of the
related REO Property) and allocable as a full or partial recovery of principal,
interest and expenses in accordance with Section 3.02(b) or the definition of
"REO Loan," as applicable; provided that no Liquidation Fee shall be payable in
connection with, or out of (i) Insurance Proceeds and (ii) Liquidation Proceeds
resulting from the purchase of any Mortgage Loan or REO Property by a Mortgage
Loan Seller pursuant to the applicable Mortgage Loan Purchase Agreement if
purchased within the cure period set forth in Section 3(c) of such Mortgage Loan
Purchase Agreement, by the Majority Subordinate Certificateholder, the Companion
Holder, or the Special Servicer pursuant to Section 3.18(c), Section 3.18(d),
Section 3.18(e), Section 3.18(h) or by the Master Servicer, the Special Servicer
or the Majority Subordinate Certificateholder or the purchasing
Certificateholder pursuant to Section 9.01, or any mezzanine lender pursuant to
the related mezzanine intercreditor agreement if purchased by the mezzanine
lender within 90 days of the related Mortgage Loan becoming a Specially Serviced
Mortgage Loan; and (iii) Liquidation Proceeds resulting from the remittance by
the related Mortgage Loan Seller pursuant to Section 2.03 (if remitted within
the cure period set forth for repurchase in the related Mortgage Loan Purchase
Agreement); provided, further, no Liquidation Fee shall be payable (i) in
connection with a Periodic Payment received in connection with such Mortgage
Loan or (ii) to the extent a Workout Fee is payable concerning the Liquidation
Proceeds.

            The Special Servicer's right to receive the Special Servicing Fee,
the Workout Fee and the Liquidation Fee may not be transferred in whole or in
part except in connection with the transfer of all of the Special Servicer's
responsibilities and obligations under Sections 6.02, 6.04 and 6.09.

            (d) Additional servicing compensation in the form of: (i) all late
payment charges, Penalty Interest received on or with respect to Specially
Serviced Mortgage Loans actually collected that, with respect to late payment
charges and penalty charges, accrued during the time that the related Mortgage
Loan was a Specially Serviced Mortgage Loan, (ii) one hundred percent (100%) of
any assumption application fees and assumption fees with respect to any
Specially Serviced Mortgage Loan and fifty percent (50%) of (A) any assumption
fees or Tenant-in-Common Loan assumption fees and (B) any assumption application
fees and Tenant-in-Common Loan transfer and assumption application fees if the
related Tenant-in-Common Loan transfer and assumption fails to be completed or
no assumption fee is collected with respect to a Tenant-In-Common Loan with
respect to any Mortgage Loan or Companion Loan if such Mortgage Loan or
Companion Loan is not a Specially Serviced Mortgage Loan, in each case to the
extent actually paid by a Mortgagor, and (iii) modification fees collected on
all Mortgage Loans or Companion Loans (other than modifications made by the
Master Servicer pursuant to Section 3.20(i)), in each case to the extent
actually paid by the related Mortgagor, shall be retained by the Special
Servicer or promptly paid to the Special Servicer by the Master Servicer and
shall not be required to be deposited in the Certificate Account; provided that
the Special Servicer's right to receive late payment charges and Penalty
Interest pursuant to clause (i) above shall be limited to the portion of such
items that have not been applied to pay interest on Advances and property
inspection costs in respect of the related Mortgage Loan as provided in Sections
3.03(d), 3.12(a) and 4.03(d) or Additional Trust Fund Expenses (other than
Special Servicing Fees, Workout Fees and/or Liquidation Fees) pursuant to this
Section 3.11(d). To the extent the Master Servicer or the Special Servicer
receives late payment charges or Penalty Interest on a Mortgage Loan for which
interest on Advances or Additional Trust Fund Expenses (other than Special
Servicing Fees, Workout Fees and/or Liquidation Fees) related to such Mortgage
Loan and not previously reimbursed to the Trust Fund, the Special Servicer shall
transfer to the Master Servicer for deposit in the Certificate Account, on or
prior to the P&I Advance Date following the collection of such late payment
charges or Penalty Interest, an amount equal to the lesser of (i) the amount of
late payment charges or Penalty Interest received on such Mortgage Loan or (ii)
the sum of the amount of interest paid to the Master Servicer on Advances
related to such Mortgage Loan incurred since the Closing Date for which the
Trust Fund has not been previously reimbursed and the amount of Additional Trust
Fund Expenses (other than Special Servicing Fees, Workout Fees and/or
Liquidation Fees) related to such Mortgage Loan since the Closing Date and not
previously reimbursed to the Trust Fund. To the extent that the Special Servicer
is not entitled to late payment charges or Penalty Interest pursuant to the
immediately preceding sentence, the Special Servicer shall promptly transfer
such late payment charges and Penalty Interest to the Master Servicer who shall
deposit such late payment charges and Penalty Interest in the Certificate
Account. The Special Servicer shall also be entitled to additional servicing
compensation in the form of: (i) interest or other income earned on deposits in
the REO Account, if established, in accordance with Section 3.06(b) (but only to
the extent of the Net Investment Earnings, if any, with respect to the REO
Account for each Collection Period); and (ii) to the extent not required to be
paid to any Mortgagor under applicable law, any interest or other income earned
on deposits in the Servicing Accounts maintained by the Special Servicer. The
Special Servicer shall be required to pay out of its own funds all general and
administrative expenses incurred by it in connection with its servicing
activities hereunder, and the Special Servicer shall not be entitled to
reimbursement therefor except as expressly provided in Section 3.05(a) if and to
the extent such expenses are not payable directly out of the Certificate Account
or the REO Account.

            Section 3.12. Property Inspections; Collection of Financial
Statements; Delivery of Certain Reports.

            (a) (i) The Special Servicer shall perform or cause to be performed
a physical inspection of a Mortgaged Property as soon as practicable after a
related Mortgage Loan becomes a Specially Serviced Mortgage Loan and (ii) the
Master Servicer (in the case of non-Specially Serviced Mortgage Loans and other
than the 2006-C28 Serviced Mortgage Loan) or the Special Servicer (in the case
of Specially Serviced Mortgage Loans) shall perform or cause to be performed a
physical inspection of a Mortgaged Property as soon as the related Debt Service
Coverage Ratio set forth in the CMSA Comparative Financial Status Report of a
Mortgage Loan is below 1.00x; provided that with respect to inspections prepared
by the Special Servicer, such expense shall be reimbursable first out of Penalty
Interest and late payment charges otherwise payable to the Special Servicer and
received in the Collection Period during which such inspection related expenses
were incurred, then as an Additional Trust Fund Expense (except to the extent
that such Additional Trust Fund Expense is payable out of the proceeds of any
Companion Loan pursuant to the related Intercreditor Agreement and this
Agreement). Each of the Master Servicer for each Mortgage Loan (other than a
Specially Serviced Mortgage Loan or REO Loan) and the Special Servicer for each
Specially Serviced Mortgage Loan and REO Loan shall (and, in the case of the
Master Servicer, at its expense) perform or cause to be performed an inspection
of all the Mortgaged Properties at least once per calendar year (or, in the case
of each Mortgaged Property securing a Mortgage Loan (other than a Specially
Serviced Mortgage Loan) with a then current principal balance (or allocated loan
amount) of less than $2,000,000 at the time of such inspection, every other
calendar year) beginning in 2007; provided, however, the Master Servicer shall
not be required to inspect any Mortgaged Property that has been inspected by the
Special Servicer during the immediately preceding six months. The Special
Servicer and the Master Servicer shall each prepare (and, in the case of the
Special Servicer, shall deliver to the Master Servicer) a written report of each
such inspection performed by it that sets forth in detail the condition of the
Mortgaged Property and that specifies the existence of: (i) any sale, transfer
or abandonment of the Mortgaged Property of which it is aware, (ii) any change
in the condition or value of the Mortgaged Property that it, in its reasonable
judgment, considers material, or (iii) any visible waste committed on the
Mortgaged Property. The Master Servicer shall deliver such reports to the
Trustee within 45 days of the related inspection and the Trustee shall, subject
to Section 3.15, make copies of all such inspection reports available for review
by Certificateholders and Certificate Owners during normal business hours at the
offices of the Trustee at all times after the Trustee's receipt thereof. Upon
written request and at the expense of the requesting party, the Trustee shall
deliver copies of any such inspection reports to Certificateholders and
Certificate Owners. The Special Servicer shall have the right to inspect or
cause to be inspected (at its own expense) every calendar year any Mortgaged
Property related to a loan that is not a Specially Serviced Mortgage Loan;
provided that the Special Servicer obtains the approval of the Master Servicer
prior to such inspection, and provides a copy of such inspection to the Master
Servicer; provided, further, the Master Servicer and the Special Servicer shall
not both inspect a Mortgaged Property that is not securing a Specially Serviced
Mortgage Loan in the same calendar year. If the Special Servicer performs such
inspection, such inspection shall satisfy the Master Servicer's inspection
obligations pursuant to this paragraph (a).

            With respect to site inspection information, the Master Servicer
shall make such inquiry of any Mortgagor under any related Mortgage Loan as the
Special Servicer may reasonably request.

            (b) Not later than 2:00 p.m. (New York City time) on the second
Business Day prior to each Determination Date, the Special Servicer shall
deliver or cause to be delivered to the Master Servicer the following reports
with respect to the Specially Serviced Mortgage Loans and any REO Properties
providing the required information as of the end of the preceding calendar
month: (i) a CMSA Property File; (ii) a CMSA Comparative Financial Status Report
and (iii) CMSA Financial File. Not later than 5:00 p.m. (New York City time) on
the first Business Day following each Determination Date, the Special Servicer
shall deliver or cause to be delivered to the Master Servicer the following
reports with respect to the Mortgage Loans (and, if applicable, the related REO
Properties) (or, as to clause (v) below, only with respect to Specially Serviced
Mortgage Loans) providing the required information as of such Determination
Date: (i) a CMSA Historical Loan Modification and Corrected Mortgage Loan
Report; (ii) a CMSA REO Status Report, (iii) a CMSA Advance Recovery Report and
(iv) a CMSA Delinquent Loan Status Report.

            (c) Not later than 4:00 p.m. (New York City time) on the third
Business Day after each Determination Date, the Master Servicer shall deliver or
cause to be delivered to the Trustee (in electronic format acceptable to the
Master Servicer and the Trustee) (A) the most recent CMSA Historical Loan
Modification and Corrected Mortgage Loan Report and CMSA REO Status Report
received from the Special Servicer pursuant to Section 3.12(b); (B) a CMSA
Property File, a CMSA Comparative Financial Status Report and a CMSA Financial
File, each with the required information as of the end of the preceding calendar
month (in each case combining the reports prepared by the Special Servicer and
the Master Servicer); (C) a CMSA Loan Level Reserve/LOC Report and CMSA
Delinquent Loan Status Report, each with the required information as of such
Determination Date (in each case combining the reports prepared by the Special
Servicer and the Master Servicer); (D) a CMSA Servicer Watchlist Report with the
required information as of such Determination Date; and (E) a CMSA Advance
Recovery Report, with the required information as of such Determination Date.

            (d) The Special Servicer will deliver to the Master Servicer the
reports set forth in Section 3.12(b) and this Section 3.12(d) and the Master
Servicer shall deliver to the Trustee the reports set forth in this Section 3.12
in an electronic format reasonably acceptable to the Special Servicer and the
Master Servicer with respect to the reports set forth in Section 3.12(b) and
this Section 3.12(d) and the Master Servicer and the Trustee with respect to the
reports set forth in Section 3.12(c). The Master Servicer may, absent manifest
error, conclusively rely on the reports to be provided by the Special Servicer
pursuant to Section 3.12(b) and this Section 3.12(d) and the 2006-C28 Master
Servicer and the 2006-C28 Special Servicer to the extent required to be provided
pursuant to the 2006-C28 Pooling and Servicing Agreement. The Trustee may,
absent manifest error, conclusively rely on the CMSA Loan Periodic Update File
to be provided by the Master Servicer pursuant to Section 4.02(b). In the case
of information or reports to be furnished by the Master Servicer to the Trustee
pursuant to this Section 3.12, to the extent that such information is based on
reports to be provided by the Special Servicer pursuant to Section 3.12(b) and
this Section 3.12(d) and, to the extent that such reports are to be prepared and
delivered by the Special Servicer pursuant to Section 3.12(b) and this Section
3.12(d), the Master Servicer shall have no obligation to provide such
information or reports until it has received such information or reports from
the Special Servicer and the Master Servicer shall not be in default hereunder
due to a delay in providing the reports required by this Section 3.12 to the
extent caused by the Special Servicer's failure to timely provide any report
required under Section 3.12(b) and this Section 3.12(d) of this Agreement.

            The Special Servicer, in the case of any Specially Serviced Mortgage
Loan and REO Loan, and the Master Servicer, in the case of all other Mortgage
Loans (other than the 2006-C28 Serviced Mortgage Loan), shall endeavor,
consistent with the Servicing Standard, to obtain quarterly and annual operating
statements and rent rolls with respect to the related Mortgage Loans and REO
Properties, which efforts shall include (i) in the case of the Mortgage Loans
(other than the 2006-C28 Serviced Mortgage Loan), a letter sent to the related
Mortgagor each quarter (followed up with telephone calls) requesting such
quarterly and annual operating statements and rent rolls until they are received
to the extent such action is consistent with applicable law and the related
Mortgage Loan documents, and (ii) with respect to the 2006-C28 Serviced Mortgage
Loan, a letter sent to the 2006-C28 Master Servicer to provide such information
to the extent required to be delivered pursuant to the related Intercreditor
Agreement.

            The Special Servicer shall promptly, following receipt, deliver
copies of the operating statements and rent rolls received or obtained by it to
the Master Servicer, and the Master Servicer shall deliver copies of the
operating statements and rent rolls received or obtained by it to the Rating
Agencies, the Trustee, the Special Servicer or the Controlling Class
Representative in each case (other than the Rating Agencies and the Controlling
Class Representative which shall be sent copies within 30 days following the
Master Servicer's receipt) upon request.

            Within 30 days after receipt by the Master Servicer or the Special
Servicer of any annual operating statements with respect to any Mortgaged
Property or REO Property, as applicable (other than, in each case, the Mortgaged
Property or REO Property related to the 2006-C28 Serviced Mortgage Loan), each
of the Master Servicer and the Special Servicer shall prepare or update and,
with respect to any CMSA NOI Adjustment Worksheet prepared or updated by the
Special Servicer, forward to the Master Servicer, a CMSA NOI Adjustment
Worksheet for such Mortgaged Property or REO Property (with the annual operating
statements attached thereto as an exhibit).

            The Special Servicer with respect to each Specially Serviced
Mortgage Loan and REO Loan, and the Master Servicer with respect to each other
Mortgage Loan (other than the 2006-C28 Serviced Mortgage Loan), shall each
prepare and maintain and forward to each other one CMSA Operating Statement
Analysis for each Mortgaged Property and REO Property, as applicable; provided,
however, with respect to the 2006-C28 Serviced Mortgage Loan, the Master
Servicer shall forward to each recipient of a CMSA Operating Statement Analysis
hereunder a copy of the CMSA Operating Statement Analysis received from the
2006-C28 Master Servicer related to the 2006-C28 Serviced Mortgage Loan. The
CMSA Operating Statement Analysis for each Mortgaged Property and REO Property
is to be updated by each of the Master Servicer and the Special Servicer, as
applicable, within thirty days after its respective receipt of updated operating
statements for such Mortgaged Property and REO Property, as the case may be, but
in no event less frequently than annually by June 30th of each year. The Master
Servicer and the Special Servicer shall each use the "Normalized" column from
the CMSA NOI Adjustment Worksheet for any Mortgaged Property or REO Property, as
the case may be, to update the corresponding CMSA Operating Statement Analysis
and shall use any operating statements received with respect to any Mortgaged
Property or REO Property, as the case may be, to prepare the CMSA NOI Adjustment
Worksheet for such property. Copies of CMSA Operating Statement Analyses and
CMSA NOI Adjustment Worksheets are to be made available by the Master Servicer
to the Trustee, the Special Servicer or the Controlling Class Representative in
each case upon request.

            (e) With respect to the Centro Syndicate 2 Pool Loan and the Centro
International Wholesale Pool Loan, the Master Servicer and the Special Servicer,
as applicable, will provide the related Companion Loan holders with copies of
any and all documents, certificates, instruments, notices, reports, operating
statements, rent rolls, correspondences and other information required to be
delivered pursuant to the terms of the related intercreditor agreement.

            (f) The Master Servicer shall, upon the reasonable request of
Artesia, deliver copies to Artesia (at their expense) of operating statements
and financial statements relating to the Artesia Mortgage Loans.

            Section 3.13. Annual Reports on Assessment of Compliance with
Servicing Criteria and Annual Statement as to Compliance.

            (a) On or before noon (Eastern Time) on March 5 (with a 7 Business
Day notice and cure period as provided in Section 7.01(a)(iv) herein but no
later than March 15) of each year, commencing in March 2007, the Master
Servicer, the Special Servicer and the Trustee, each at its own expense, shall
furnish, and the Master Servicer and Special Servicer shall cause each Servicing
Participant with which it has entered into a relationship with respect to the
Mortgage Loans to furnish and the Master Servicer shall cause each Additional
Servicer to furnish to the Trustee and the Depositor, with a copy to the Rating
Agencies and the Controlling Class Representative, a report on an assessment of
compliance with the Servicing Criteria that contains (i) a statement by such
Reporting Party of its responsibility for assessing compliance with the
Servicing Criteria applicable to it, (ii) a statement that such Reporting Party
used the Servicing Criteria to assess compliance with the Relevant Servicing
Criteria, (iii) such Reporting Party's assessment of compliance with the
Relevant Servicing Criteria as of and for the period ending the end of the
fiscal year covered by the Form 10-K required to be filed pursuant to Section
8.17, including, if there has been any material instance of noncompliance with
the Relevant Servicing Criteria, a discussion of each such failure and the
nature and status thereof, and (iv) a statement that a registered public
accounting firm has issued an attestation report on such Reporting Party's
assessment of compliance with the Relevant Servicing Criteria as of and for such
period. Promptly after receipt of each such report, the Depositor may review
each such report and, if applicable, consult with the Trustee, the Master
Servicer and the Special Servicer as to the nature of any material instance of
noncompliance with the Relevant Servicing Criteria by the Trustee, the Master
Servicer, the Special Servicer or any Servicing Participant with which it has
entered into a servicing relationship with respect to the Mortgage Loans.
Neither the Master Servicer nor the Special Servicer shall be required to cause
the delivery of any such statements until April 15 in any given year so long as
it has received written confirmation from the Depositor that a Report on Form
10-K is not required to be filed in respect of the Trust Fund for the preceding
calendar year.

            Each such report shall be addressed to the Depositor and signed by
an authorized officer of the applicable company, and shall address each of the
Relevant Servicing Criteria specified on a certification substantially in the
form of Exhibit S hereto delivered to the Depositor on the Closing Date.
Promptly after receipt of each such report, (i) the Depositor may review each
such report and, if applicable, consult with the Master Servicer, the Special
Servicer and/or the Trustee as to the nature of any material instance of
noncompliance with the Relevant Servicing Criteria (and each Sub-Servicer or
Servicing Participant engaged or utilized by the Master Servicer, the Special
Servicer or the Trustee, as applicable), and (ii) the Trustee shall confirm that
the assessments taken individually address the Relevant Servicing Criteria as
set forth on Exhibit S and notify the Depositor of any exceptions. To the extent
the Trustee has actual knowledge of a deficiency in the reporting of the
Relevant Servicing Criteria (whether individually with respect to the Relevant
Servicing Criteria, or in the aggregate with respect to the Servicing Criteria
taken as a whole), the Trustee shall promptly notify in accordance with the last
paragraph of Section 8.17(n) the Depositor and whichever of the Master Servicer
or the Special Servicer failed to provide the Relevant Servicing Criteria.

            No later than the end of each fiscal year for the Trust Fund, the
Master Servicer and the Special Servicer shall notify the Trustee, the Master
Servicer or the Special Servicer, as applicable, and the Depositor as to the
name of each Sub-Servicer engaged by it and each Servicing Participant utilized
by it, and the Trustee shall notify the Depositor as to the name of each
Servicing Participant utilized by it, and each such notice will specify which
Relevant Servicing Criteria will be addressed in the report on assessment of
compliance prepared by such Servicing Participant and/or Sub-Servicer. When the
Master Servicer, the Special Servicer and the Trustee submit their assessments
pursuant to Section 3.13(a), the Master Servicer, the Special Servicer and the
Trustee, as applicable, will also at such time include the assessment (and
related attestation pursuant to Section 3.14) of each Servicing Participant
and/or Sub-Servicer engaged by it.

            In the event the Master Servicer, the Special Servicer or the
Trustee is terminated or resigns pursuant to the terms of this Agreement, such
party shall provide, and each such party shall cause any Servicing Participant
engaged by it or formerly engaged by it to provide, and the Master Servicer
shall use its reasonable efforts to cause any Additional Servicer that resigns
or is terminated under any applicable servicing agreement to provide, an annual
assessment of compliance pursuant to this Section 3.13, coupled with an
attestation as required in Section 8.17 with respect to the period of time that
the Master Servicer, the Special Servicer or the Trustee was subject to this
Agreement or the period of time that the Additional Servicer was subject to such
other servicing agreement.

            (b) The Trustee, the Master Servicer and the Special Servicer shall,
and the Master Servicer (or, in the case of the Master Servicer with respect to
the Sub-Servicers identified on Exhibit Y hereto, shall use reasonable efforts
to cause) and Special Servicer shall cause each Servicing Participant with which
it has entered into a relationship with respect to the Mortgage Loans, to
deliver to the Depositor and the Trustee on or before March 5 (with a 7 Business
Day notice and cure period as provided in Section 7.01(a)(iv) herein but no
later than March 15) of each year, commencing in March 2007, an Officer's
Certificate stating, as to the Trustee, the Master Servicer, the Special
Servicer or the Additional Servicer, as applicable, that (i) a review of such
entity's activities during the preceding calendar year or portion thereof and of
such entity's performance under this Agreement, or the applicable servicing
agreement in the case of any Additional Servicer, has been made under such
officer's supervision and (ii) to the best of such officer's knowledge, based on
such review, such entity has fulfilled all its obligations under this Agreement,
or the applicable Sub-Servicing Agreement or primary servicing agreement in the
case of any Additional Servicer, in all material respects throughout such year
or portion thereof, or, if there has been a failure to fulfill any such
obligation in any material respect, specifying each such failure known to such
officer and the nature and status thereof. The Trustee, the Master Servicer and
the Special Servicer shall, and the Master Servicer (or, in the case of the
Master Servicer with respect to the Sub-Servicers identified on Exhibit Y
hereto, shall use reasonable efforts to cause) and the Special Servicer shall
cause each Additional Servicer with which it has entered into a servicing
relationship with respect to the Mortgage Loans to, forward, or make available a
copy of each such statement to the Rating Agencies and the Controlling Class
Representative. Promptly after receipt of each such Officer's Certificate, the
Depositor may review such Officer's Certificate and, if applicable, consult with
the Trustee, the Master Servicer or the Special Servicer, as applicable, as to
the nature of any failures by the Trustee, the Master Servicer or the Special
Servicer, respectively, or any related any Additional Servicer with which the
Master Servicer or the Special Servicer, as applicable, has entered into a
servicing relationship with respect to the Mortgage Loans in the fulfillment of
any of the Master Servicer's or Special Servicer's obligations hereunder or
under the applicable servicing agreement.

            The obligations of the Master Servicer, the Special Servicer, the
Trustee and each Additional Servicer under this Section apply to the Master
Servicer, the Special Servicer, the Trustee and each Additional Servicer that
serviced a Mortgage Loan during the applicable period, whether or not the Master
Servicer, the Special Servicer, the Trustee or Additional Servicer is acting as
the Master Servicer, the Special Servicer, the Trustee or Additional Servicer at
the time such Officer's Certificate is required to be delivered.

            In the event the Master Servicer, the Special Servicer or the
Trustee is terminated or resigns pursuant to the terms of this Agreement, such
party shall provide, and the Master Servicer shall use its reasonable efforts to
cause any Additional Servicer that resigns or is terminated under any applicable
servicing agreement to provide, an annual statement of compliance pursuant to
this Section 3.13 with respect to the period of time that the Master Servicer,
the Special Servicer or the Trustee was subject to this Agreement or the period
of time that the Additional Servicer was subject to such other servicing
agreement.

            Section 3.14. Attestation by Independent Public Accountants.

            On or before noon (Eastern Time) on March 5 (with a 7 Business Day
notice and cure period as provided in Section 7.01(a)(iv) herein but no later
than March 15) of each year, commencing in March 2007, the Master Servicer, the
Special Servicer and the Trustee, each at its own expense, shall cause, and the
Master Servicer (or, in the case of the Master Servicer with respect to the
Sub-Servicers identified on Exhibit Y hereto, shall use reasonable efforts to
cause), the Special Servicer and the Trustee shall cause each Servicing
Participant with which it has entered into a relationship with respect to the
Mortgage Loans to cause, and the Master Servicer shall cause each Additional
Servicer to cause, a registered public accounting firm (which may also render
other services to the Master Servicer, the Special Servicer, the Trustee or the
applicable Servicing Participant, as the case may be) and that is a member of
the American Institute of Certified Public Accountants to furnish a report to
the Trustee and the Depositor, with a copy to the Rating Agencies and the
Controlling Class Representative, to the effect that (i) it has obtained a
representation regarding certain matters from the management of such Reporting
Party, which includes an assertion that such Reporting Party has complied with
the Relevant Servicing Criteria and (ii) on the basis of an examination
conducted by such firm in accordance with standards for attestation engagements
issued or adopted by the Public Company Accounting Oversight Board, attests to
and reports on such Reporting Party's assessment of compliance with the Relevant
Servicing Criteria. In the event that an overall opinion cannot be expressed,
such registered public accounting firm shall state in such report why it was
unable to express such an opinion. Each such related accountant's attestation
report shall be made in accordance with Rules 1-02(a)(3) and 2-02(g) of
Regulation S-X under the Securities Act and the Exchange Act. Such report must
be available for general use and not contain restricted use language. Promptly
after receipt of such report from the Trustee, the Master Servicer, the Special
Servicer or any Servicing Participant, the Depositor may review the report and,
if applicable, consult with the Trustee, the Master Servicer or the Special
Servicer as to the nature of any defaults by the Trustee, the Master Servicer,
the Special Servicer or any Servicing Participant with which it has entered into
a servicing relationship with respect to the Mortgage Loans, as the case may be,
in the fulfillment of any of the Trustee's, the Master Servicer's, the Special
Servicer's or the applicable Servicing Participant's obligations hereunder or
under the applicable servicing agreement. The Trustee, the Master Servicer and
the Special Servicer shall not be required to cause the delivery of such reports
until April 15 in any given year so long as it has received written confirmation
from the Depositor that a Report on Form 10-K is not required to be filed in
respect of the Trust Fund for the preceding calendar year. The Trustee shall
confirm that each accountants' attestation report submitted pursuant to this
Section relates to an assessment of compliance that on its face meets the
requirements of Section 3.13(a) and notify the Depositor of any exceptions.

            Section 3.15. Access to Certain Information.

            (a) Upon reasonable prior written notice, not required to be greater
than ten days, the Master Servicer (with respect to the items in clauses (a),
(b) (other than Distribution Date Statements), (c), (d), (e), (f), (h) and (i)
below, unless such item was not delivered to the Master Servicer), the Special
Servicer (with respect to the items in clauses (c), (d), (g), (h) and (i) below)
to the extent such items are in its possession and the Trustee (with respect to
the items in clauses (b) and (i) below and any other items, to the extent in its
possession) shall make available at their respective offices primarily
responsible for administration of the Mortgage Loans (or in the case of the
Trustee, at its Corporate Trust Office, except with respect to documents which
constitute part of the Mortgage Files, which will be maintained at its offices
in Minnesota), during normal business hours, or send to the requesting party,
such party having been certified to the Trustee, the Master Servicer or the
Special Servicer, as applicable, in accordance with (a) and (b) in the following
paragraph, as appropriate, at the expense of such requesting party (unless
otherwise provided in this Agreement), for review by any Certificate Owner or
Certificateholder or any Person identified by a Certificate Owner or
Certificateholder or its designated agent to the Trustee, the Master Servicer or
the Special Servicer, as the case may be, as a prospective transferee of any
Certificate or interest therein or a Companion Loan or any interest therein (to
the extent such information is related to such Companion Loan or the related
Mortgage Loan), the Trustee, the Rating Agencies, the Underwriters and any
applicable regulator or potential purchaser specified thereby and the Depositor,
originals or copies of the following items: (a) this Agreement and any
amendments thereto, (b) all Distribution Date Statements delivered to holders of
the relevant Class of Certificates since the Closing Date and all reports,
statements and analyses delivered by the Master Servicer since the Closing Date
pursuant to Section 3.12(c), (c) all Officer's Certificates delivered by the
Master Servicer or the Special Servicer since the Closing Date pursuant to
Section 3.13, (d) all accountants' reports delivered to the Master Servicer in
respect of itself or the Special Servicer since the Closing Date as described in
Section 3.14, (e) the most recent property inspection report prepared by or on
behalf of the Master Servicer in respect of each Mortgaged Property and any
Environmental Assessments prepared pursuant to Section 3.09, (f) the most recent
Mortgaged Property annual operating statements and rent roll, if any, collected
by or on behalf of the Master Servicer, (g) any and all modifications, waivers
and amendments of the terms of a Mortgage Loan entered into by the Special
Servicer and the Asset Status Report prepared pursuant to Section 3.21(d), (h)
the Servicing File relating to each Mortgage Loan and (i) any and all Officer's
Certificates and other evidence delivered by the Master Servicer or the Special
Servicer, as the case may be, to support its determination that any Advance was,
or if made, would be, a Nonrecoverable Advance pursuant to Sections 3.03(e) or
4.03(c), including appraisals affixed thereto and any Required Appraisal
prepared pursuant to Section 3.09(a). Copies of any and all of the foregoing
items will be available from the Master Servicer, the Special Servicer or the
Trustee, as the case may be, upon request and shall be provided to any of the
Rating Agencies at no cost pursuant to their reasonable requests.

            In connection with providing access to or copies of the items
described in the preceding paragraph pursuant to this Section 3.15, or with
respect to the Controlling Class Representative, in connection with providing
access to or copies of any items in accordance with this Agreement, the Trustee,
the Master Servicer or the Special Servicer, as applicable, shall require: (a)
in the case of Certificate Owners and the Controlling Class Representative, a
confirmation (which in the case of the Controlling Class Representative may be a
standing confirmation) executed by the requesting Person substantially in the
form of Exhibit K-1 hereto (or such other form as may be reasonably acceptable
to the Trustee, the Master Servicer or the Special Servicer, as applicable)
generally to the effect that such Person is a beneficial holder of Book-Entry
Certificates, or a representative of a beneficial holder of Book-Entry
Certificates, and, subject to the last sentence of this paragraph, will keep
such information confidential (except that such Certificate Owner and the
Controlling Class Representative may provide such information to any other
Person that holds or is contemplating the purchase of any Certificate or
interest therein; provided that such other Person confirms in writing such
ownership interest or prospective ownership interest and agrees to keep such
information confidential); and (b) in the case of a prospective purchaser of a
Certificate or an interest therein, confirmation executed by the requesting
Person substantially in the form of Exhibit K-2 hereto (or such other form as
may be reasonably acceptable to the Trustee, the Master Servicer or the Special
Servicer, as applicable) generally to the effect that such Person is a
prospective purchaser of a Certificate or an interest therein, is requesting the
information for use in evaluating a possible investment in Certificates and,
subject to the last sentence of this paragraph, will otherwise keep such
information confidential. The Holders of the Certificates, by their acceptance
thereof, and the Controlling Class Representative, by its acceptance of its
appointment, will be deemed to have agreed, subject to the last sentence of this
paragraph, to keep such information confidential (except that any Holder may
provide such information obtained by it to any other Person that holds or is
contemplating the purchase of any Certificate or interest therein; provided that
such other Person confirms in writing such ownership interest or prospective
ownership interest and agrees to keep such information confidential) and agrees
not to use such information in any manner that would violate federal, state or
local securities laws. Notwithstanding the foregoing, no Certificateholder,
Certificate Owner or prospective Certificateholder or Certificate Owner shall be
obligated to keep confidential any information received from the Trustee, the
Master Servicer or the Special Servicer, as applicable, pursuant to this Section
3.15 that has previously been made available via the Trustee's, the Master
Servicer's or Special Servicer's Internet Website without restriction as to
access as permitted pursuant to the terms of this Agreement, as applicable, or
has previously been filed with the Commission, and the Trustee, the Master
Servicer or the Special Servicer, as applicable, shall not require either of the
certifications contemplated by the second preceding sentence in connection with
providing any information pursuant to this Section 3.15 that has previously been
made available via the Trustee's, the Master Servicer's or Special Servicer's
Internet Website without restriction as to access in compliance with the terms
of this Agreement, as applicable, or has previously been filed with the
Commission.

            Each of the Master Servicer and the Special Servicer shall afford to
the Trustee, the Rating Agencies and the Depositor, and to the OTS, the FDIC,
the Federal Reserve Board and any other banking or insurance regulatory
authority that may exercise authority over any Certificateholder or a Companion
Loan or any interest therein (to the extent such information is related to such
Companion Loan or the related Mortgage Loan), access to any records regarding
the Mortgage Loans and the servicing thereof within its control, except to the
extent it is prohibited from doing so by applicable law or contract or to the
extent such information is subject to a privilege under applicable law to be
asserted on behalf of the Certificateholders or the Companion Holders. Such
access shall be afforded only upon reasonable prior written request and during
normal business hours at the offices of the Master Servicer or the Special
Servicer, as the case may be, designated by it.

            The Trustee, the Master Servicer, the Special Servicer and the
Underwriters may require payment from the Certificateholder or Certificate Owner
or holder of a Companion Loan, as applicable, of a sum sufficient to cover the
reasonable costs and expenses of providing any such information or access
pursuant to this Section 3.15 to, or at the request of, the Certificateholders
or Certificate Owners or prospective transferees or holder of a Companion Loan,
as applicable, including, without limitation, copy charges and, in the case of
Certificateholders or Certificate Owners or holder of a Companion Loan, if
applicable, requiring on site review in excess of 3 Business Days, reasonable
fees for employee time and for space.

            (b) The Trustee shall, and the Master Servicer may, but is not
required to, make available on or prior to the Distribution Date in each month
to the general public (i) the Distribution Date Statement via their respective
Internet Websites, (ii) as a convenience for the general public, the Prospectus
Supplement, the Prospectus and this Agreement on their respective Internet
Websites and (iii) any other items at the request of the Depositor via their
respective Internet Websites. In addition, the Trustee shall make available each
month, on each Distribution Date, the Unrestricted Servicer Reports, the CMSA
Loan Periodic Update File, the CMSA Loan Setup File, the CMSA Bond File and the
CMSA Collateral Summary File to the general public on its Internet Website (on a
password protected basis). The Trustee shall, upon written request, make
available each month, on each Distribution Date, (i) the Restricted Servicer
Reports, and (ii) the CMSA Property File and the CMSA Financial File to any
Privileged Person and to any other Person upon the direction of the Depositor.

            The Master Servicer may, but is not required to, make available each
month via its Internet Website (i) to any interested party, the Unrestricted
Servicer Reports, the CMSA Loan Setup File and the CMSA Loan Periodic Update
File, and (ii) to any Privileged Person, with the use of a password provided by
the Master Servicer, the Restricted Servicer Reports, the CMSA Financial File
and the CMSA Property File. Any Restricted Servicer Report or Unrestricted
Servicer Report that is not available on the Master Servicer's Internet Website
as described in the immediately preceding sentence by 5:00 p.m. (New York City
time) on the related Distribution Date shall be provided (in electronic format,
or if electronic mail is unavailable, by facsimile) by the Master Servicer, upon
request, to any Person otherwise entitled to access such report on the Master
Servicer's Internet Website.

            In connection with providing access to the Trustee's Internet
Website or the Master Servicer's Internet Website, the Trustee or the Master
Servicer, as applicable, may require registration and the acceptance of a
disclaimer.

            If three or more Holders or the Controlling Class Representative
(hereinafter referred to as "Applicants" with a single Person which (together
with its Affiliates) is the Holder of more than one Class of Certificates being
viewed as a single Applicant for these purposes) apply in writing to Trustee,
and such application states that the Applicants' desire to communicate with
other Holders with respect to their rights under this Agreement or under the
Certificates and is accompanied by a copy of the communication which such
Applicants propose to transmit, then the Trustee shall, within 5 Business Days
after the receipt of such application, send, at the Applicants' expense, the
written communication proffered by the Applicants to all Certificateholders at
their addresses as they appear in the Certificate Register.

            (c) The Master Servicer and the Special Servicer shall not be
required to confirm, represent or warrant the accuracy or completeness of any
other Person's information or report included in any communication from the
Master Servicer or the Special Servicer under this Agreement. Neither the Master
Servicer nor the Trustee shall be liable for the dissemination of information in
accordance with this Section 3.15(c). The Trustee makes no representations or
warranties as to the accuracy or completeness of any report, document or other
information made available on the Trustee's Website and assumes no
responsibility therefor. In addition, the Trustee, the Master Servicer and the
Special Servicer may disclaim responsibility for any information distributed by
the Trustee, the Master Servicer or the Special Servicer, respectively, for
which it is not the original source.

            (d) Upon the request of the Controlling Class Representative made
not more frequently than once a month (which request may be a standing,
continuing request), or at such mutually acceptable time each month as the
Controlling Class Representative shall reasonably designate, each of the Master
Servicer and Special Servicer shall, without charge, make a knowledgeable
Servicing Officer available, at the option of the Controlling Class
Representative either by telephone or at the office of such Servicing Officer,
to answer questions from the Controlling Class Representative regarding the
performance and servicing of the Mortgage Loans and/or REO Properties for which
such Master Servicer or Special Servicer, as the case may be, is responsible.
The Master Servicer and the Special Servicer each shall condition such
disclosure upon the Controlling Class Representative entering into a reasonable
and customary confidentiality agreement reasonably acceptable to such servicer
and the Controlling Class Representative regarding such disclosure to it.
Neither the Master Servicer nor the Special Servicer shall be required to
provide any information or disclosures in violation of any applicable law, rule
or regulation.

            (e) With respect to any Companion Loan, the Companion Holders shall
receive and have access to any information described in this Section 3.15 which
such Companion Holder is entitled to pursuant to the related Intercreditor
Agreement.

            Section 3.16. Title to REO Property; REO Account.

            (a) If title to any REO Property is acquired, the deed or
certificate of sale shall be issued to the Trustee or its nominee on behalf of
the Certificateholders and, if applicable, the Companion Holder, as their
interests shall appear. For the avoidance of doubt, REO Property with respect to
the 2006-C28 Serviced Mortgage Loan is excluded for all purposes from this
Section 3.16. The Special Servicer, on behalf of the Trust Fund, shall sell any
such REO Property as soon as practicable in accordance with the Servicing
Standard, but prior to the end of the third year following the calendar year in
which REMIC I acquires ownership of such REO Property (or applicable portion
thereof) for purposes of Section 860G(a)(8) of the Code, unless the Special
Servicer either (i) applies for, more than 60 days prior to the end of such
third succeeding year, and is granted an extension of time (an "REO Extension")
by the Internal Revenue Service to sell such REO Property or (ii) obtains for
the Trustee an Opinion of Counsel, addressed to the Trustee, the Special
Servicer and the Master Servicer, to the effect that the holding by REMIC I of
such REO Property subsequent to the end of such third succeeding year will not
result in the imposition of taxes on "prohibited transactions" (as defined in
Section 860F of the Code) of either of REMIC I or REMIC II or cause either of
REMIC I or REMIC II to fail to qualify as a REMIC at any time that any
Certificates are outstanding. If the Special Servicer is granted the REO
Extension contemplated by clause (i) of the immediately preceding sentence or
obtains the Opinion of Counsel contemplated by clause (ii) of the immediately
preceding sentence, the Special Servicer shall sell such REO Property within
such extended period as is permitted by such REO Extension or such Opinion of
Counsel, as the case may be. Any expense incurred by the Special Servicer in
connection with its obtaining the REO Extension contemplated by clause (i) of
the second preceding sentence or its obtaining the Opinion of Counsel
contemplated by clause (ii) of the second preceding sentence, shall first be
payable from the related REO Account to the extent of available funds and then
be a Servicing Advance by the Master Servicer. In the case of the Trust Fund's
beneficial interest in the Mortgaged Property acquired by the 2006-C28 Trustee
pursuant to the 2006-C28 Pooling and Servicing Agreement, the Special Servicer
shall coordinate with the 2006-C28 Special Servicer with respect to any REO
Extension on behalf of REMIC I. Except for the preceding sentence, for purposes
of this Section 3.16, "REO Property" does not include the Trust Fund's
beneficial interest in the Mortgaged Property securing the 2006-C28 Serviced
Mortgage Loan.

            (b) The Special Servicer shall segregate and hold all funds
collected and received in connection with any REO Property separate and apart
from its own funds and general assets. If an REO Acquisition shall occur, the
Special Servicer shall establish and maintain one or more accounts
(collectively, the "REO Account"), held on behalf of the Trustee in trust for
the benefit of the Certificateholders and, if applicable, the Companion Holder,
as their interests shall appear, for the retention of revenues and other
proceeds derived from each REO Property. The REO Account shall be an Eligible
Account. The Special Servicer shall deposit, or cause to be deposited, in the
REO Account, upon receipt, all REO Revenues, Insurance Proceeds and Liquidation
Proceeds (net of Liquidation Expenses) received in respect of an REO Property
within 2 Business Days of receipt. Funds in the REO Account may be invested in
Permitted Investments in accordance with Section 3.06. The Special Servicer
shall be entitled to make withdrawals from the REO Account to pay itself, as
additional servicing compensation in accordance with Section 3.11(d), interest
and investment income earned in respect of amounts held in the REO Account as
provided in Section 3.06(b) (but only to the extent of the Net Investment
Earnings with respect to the REO Account for any Collection Period). The Special
Servicer shall give written notice to the Trustee and the Master Servicer of the
location of the REO Account when first established and of the new location of
the REO Account prior to any change thereof.

            (c) The Special Servicer shall withdraw from the REO Account funds
necessary for the proper operation, management, maintenance and disposition of
any REO Property, but only to the extent of amounts on deposit in the REO
Account relating to such REO Property (including any monthly reserve or escrow
amounts necessary to accumulate sufficient funds for taxes, insurance and
anticipated capital expenditures (the "Impound Reserve")). On the last day of
the related Collection Period, the Special Servicer shall withdraw from the REO
Account and deposit into the Certificate Account or deliver to the Master
Servicer or such other Person as may be directed by the Master Servicer (which
shall deposit such amounts into the Certificate Account) the aggregate of all
amounts received in respect of each REO Property during the most recently ended
Collection Period, net of any withdrawals made out of such amounts pursuant to
the preceding sentence; provided that in addition to the Impound Reserve, the
Special Servicer may retain in the REO Account such portion of proceeds and
collections as may be necessary to maintain a reserve of sufficient funds for
the proper operation, management and maintenance of the related REO Property
(including, without limitation, the creation of a reasonable reserve for
repairs, replacements and other related expenses).

            (d) The Special Servicer shall keep and maintain separate records,
on a property-by-property basis, for the purpose of accounting for all deposits
to, and withdrawals from, the REO Account pursuant to Section 3.16(b) or (c).
The Special Servicer shall provide the Master Servicer any information with
respect to the REO Account as is reasonably requested by the Master Servicer.

            Section 3.17. Management of REO Property.

            (a) Prior to the acquisition of title to a Mortgaged Property (other
than the Mortgaged Property relating to the 2006-C28 Serviced Mortgage Loan),
the Special Servicer shall review the operation of such Mortgaged Property and
determine the nature of the income that would be derived from such property if
it were acquired by the Trust Fund. If the Special Servicer determines from such
review in compliance with the Servicing Standard that in its good faith and
reasonable judgment:

            (i) None of the income from Directly Operating such REO Property
      would be subject to tax as "net income from foreclosure property" within
      the meaning of the REMIC Provisions (such tax referred to herein as an
      "REO Tax"), and the Special Servicer does not engage in any of the
      activities described in the definition of "Directly Operate" that would
      cause the REO Property to cease to qualify as "foreclosure property"
      within the meaning of Section 860G(a)(8) of the Code, then such Mortgaged
      Property may be Directly Operated by the Special Servicer as REO Property;

            (ii) Directly Operating such Mortgaged Property as an REO Property
      could result in income from such property that would be subject to an REO
      Tax, but that a lease of such property to another party to operate such
      property, or the performance of some services by an Independent Contractor
      with respect to such property, or another method of operating such
      property would not result in income subject to an REO Tax, then the
      Special Servicer may (provided that in the good faith and reasonable
      judgment of the Special Servicer, such alternative is commercially
      feasible and would result in a greater net recovery on a present value
      basis than earning income subject to an REO Tax) acquire such Mortgaged
      Property as REO Property and so lease or manage such REO Property; or

            (iii) It is reasonable to believe that Directly Operating such
      property as REO Property could result in income subject to an REO Tax and
      that such method of operation is commercially feasible and would result in
      a greater net recovery on a present value basis than leasing or other
      method of operating the REO Property that would not incur an REO Tax, the
      Special Servicer shall deliver to the REMIC Administrator, in writing, a
      proposed plan (the "Proposed Plan") to manage such property as REO
      Property. Such plan shall include potential sources of income, and to the
      extent commercially feasible, estimates of the amount of income from each
      such source. Within a reasonable period of time after receipt of such
      plan, the REMIC Administrator shall consult with the Special Servicer and
      shall advise the Special Servicer of the REMIC Administrator's federal
      income tax reporting position with respect to the various sources of
      income that the Trust Fund would derive under the Proposed Plan. In
      addition, the REMIC Administrator shall (to the extent reasonably
      possible) advise the Special Servicer of the estimated amount of taxes
      that the Trust Fund would be required to pay with respect to each such
      source of income. After receiving the information described in the two
      preceding sentences from the REMIC Administrator, the Special Servicer
      shall either (A) implement the Proposed Plan (after acquiring the
      respective Mortgaged Property as REO Property) or (B) manage such property
      in a manner that would not result in the imposition of an REO Tax on the
      income derived from such property. All of the REMIC Administrator's
      expenses (including any fees and expenses of counsel or other experts
      reasonably retained by it) incurred pursuant to this Section shall be
      reimbursed to it from the Trust Fund in accordance with Section 10.01(e).

            The Special Servicer's decision as to how each REO Property shall be
managed shall be based on the Servicing Standard and in any case on the good
faith and reasonable judgment of the Special Servicer as to which means would be
in the best interest of the Certificateholders (or, if the REO Property was
formerly a Mortgaged Property securing a Co-Lender Loan, the Certificateholders
and the related Companion Holder (as a collective whole in accordance with the
Servicing Standard, taking into account the subordinate nature of the Companion
Loan, if applicable)) by maximizing (to the extent commercially feasible and
consistent with Section 3.17(b)) the net after-tax REO Revenues received by the
Trust Fund with respect to such property and, to the extent consistent with the
foregoing, in the same manner as would prudent mortgage loan servicers operating
acquired mortgaged property comparable to the respective Mortgaged Property.
Both the Special Servicer and the REMIC Administrator may, at the expense of the
Trust Fund payable pursuant to Section 3.05(a)(xv), consult with counsel.

            (b) If title to any REO Property (other than the REO Property
relating to the 2006-C28 Serviced Mortgage Loan) is acquired, the Special
Servicer shall manage, conserve and protect such REO Property for the benefit of
the Certificateholders (or, if the REO Property was formerly a Mortgaged
Property securing a Co-Lender Loan, the Certificateholders and the related
Companion Holder (as a collective whole in accordance with the Servicing
Standard, taking into account the subordinate nature of the Companion Loan, if
applicable)) solely for the purpose of its prompt disposition and sale in a
manner that does not and will not cause such REO Property to fail to qualify as
"foreclosure property" within the meaning of Section 860G(a)(8) of the Code or
either result in the receipt by REMIC I of any "income from non-permitted
assets" within the meaning of Section 860F(a)(2)(B) of the Code or result in an
Adverse REMIC Event. Subject to the foregoing, however, the Special Servicer
shall have full power and authority to do any and all things in connection
therewith as are consistent with the Servicing Standard and, consistent
therewith, shall withdraw from the REO Account, to the extent of amounts on
deposit therein with respect to any such REO Property, funds necessary for the
proper management, maintenance and disposition of such REO Property, including
without limitation:

            (i) all insurance premiums due and payable in respect of such REO
      Property;

            (ii) all real estate taxes and assessments in respect of such REO
      Property that may result in the imposition of a lien thereon;

            (iii) any ground rents in respect of such REO Property; and

            (iv) all costs and expenses necessary to maintain, lease, sell,
      protect, manage and restore such REO Property.

            To the extent that amounts on deposit in the REO Account in respect
of any REO Property are insufficient for the purposes set forth in the preceding
sentence with respect to such REO Property, the Master Servicer, subject to the
second paragraph of Section 3.03(c), shall make Servicing Advances in such
amounts as are necessary for such purposes unless (as evidenced by an Officer's
Certificate delivered to the Trustee) the Master Servicer would not make such
advances if the Master Servicer owned such REO Property or the Master Servicer
determines, in accordance with the Servicing Standard, that such payment would
be a Nonrecoverable Advance; provided, however, the Master Servicer may make any
such Servicing Advance without regard to recoverability if it is a necessary fee
or expense incurred in connection with the defense or prosecution of legal
proceedings.

            (c) Unless Section 3.17(a)(i) applies, the Special Servicer shall
contract with any Independent Contractor (if required by the REMIC Provisions
for the REO Property to remain classified as "foreclosure property" within the
meaning of Section 860G(a)(8) of the Code) for the operation and management of
any REO Property; provided that:

            (i) the terms and conditions of any such contract may not be
      inconsistent herewith and shall reflect an agreement reached at arm's
      length;

            (ii) the fees of such Independent Contractor (which shall be
      expenses of the Trust Fund) shall be reasonable and customary in
      consideration of the nature and locality of the REO Property;

            (iii) except as permitted under Section 3.17(a), any such contract
      shall require, or shall be administered to require, that the Independent
      Contractor, in a timely manner, pay all costs and expenses incurred in
      connection with the operation and management of such REO Property,
      including, without limitation, those listed in Section 3.17(b) above, and
      remit all related revenues collected (net of its fees and such costs and
      expenses) to the Special Servicer upon receipt;

            (iv) none of the provisions of this Section 3.17(c) relating to any
      such contract or to actions taken through any such Independent Contractor
      shall be deemed to relieve the Special Servicer of any of its duties and
      obligations hereunder with respect to the operation and management of any
      such REO Property; and

            (v) the Special Servicer shall be obligated with respect thereto to
      the same extent as if it alone were performing all duties and obligations
      in connection with the operation and management of such REO Property.

            The Special Servicer shall be entitled to enter into any agreement
with any Independent Contractor performing services for it related to its duties
and obligations hereunder for indemnification of the Special Servicer by such
Independent Contractor, and nothing in this Agreement shall be deemed to limit
or modify such indemnification. No agreement entered into pursuant to this
Section 3.17(c) shall be deemed a Sub-Servicing Agreement for purposes of
Section 3.22.

            (d) Without limiting the generality of the foregoing, the Special
Servicer shall not:

            (i) permit the Trust Fund to enter into, renew or extend any New
      Lease with respect to any REO Property (other than the REO Property
      relating to the 2006-C28 Serviced Mortgage Loan), if the New Lease by its
      terms will give rise to any income that does not constitute Rents from
      Real Property;

            (ii) permit any amount to be received or accrued under any New Lease
      other than amounts that will constitute Rents from Real Property;

            (iii) authorize or permit any construction on any REO Property
      (other than the REO Property relating to the 2006-C28 Serviced Mortgage
      Loan), other than the repair or maintenance thereof or the completion of a
      building or other improvement thereon, but only to the extent provided in
      Section 856(e)(4)(B) of the Code; or

            (iv) except as otherwise provided for in Section 3.17(a)(i) and
      (a)(ii) above, Directly Operate, or allow any other Person, other than an
      Independent Contractor, to Directly Operate, any REO Property (other than
      the REO Property relating to the 2006-C28 Serviced Mortgage Loan) on any
      date more than 90 days after its Acquisition Date;

unless, in any such case, the Special Servicer has obtained an Opinion of
Counsel (the cost of which shall be paid by the Master Servicer as a Servicing
Advance unless nonrecoverable, in which case it shall be paid by the Master
Servicer as an Additional Trust Fund Expense from amounts on deposit in the
Certificate Account) to the effect that such action will not cause such REO
Property to fail to qualify as "foreclosure property" within the meaning of
Section 860G(a)(8) of the Code at any time that it is held by the Trust Fund, in
which case the Special Servicer may take such actions as are specified in such
Opinion of Counsel. Except as limited above in this Section 3.17 and by this
Section 3.17(d), the Special Servicer shall be permitted to cause the Trust Fund
to earn "net income from foreclosure property", subject to the Servicing
Standard.

            Section 3.18. Resolution of Defaulted Mortgage Loans and REO
Properties.

            (a) The Master Servicer, the Special Servicer or the Trustee may
sell or purchase, or permit the sale or purchase of, a Mortgage Loan (other than
the 2006-C28 Serviced Mortgage Loan) or an REO Property (other than the REO
Property relating to the 2006-C28 Serviced Mortgage Loan) only on the terms and
subject to the conditions set forth in this Section 3.18 or as otherwise
expressly provided in or contemplated by Sections 2.03 and 9.01.

            (b) Within 60 days after a Mortgage Loan (other than the 2006-C28
Serviced Mortgage Loan) becomes a Defaulted Mortgage Loan, the Special Servicer
shall determine the fair value of such Mortgage Loan in accordance with the
Servicing Standard; provided, however, such determination shall be made without
taking into account any effect the restrictions on the sale of such Mortgage
Loan contained herein may have on the value of such Defaulted Mortgage Loan;
provided, further, the Special Servicer shall use reasonable efforts promptly to
obtain an Appraisal with respect to the related Mortgaged Property unless it has
an Appraisal that is less than 12 months old and has no actual knowledge of, or
notice of, any event which in the Special Servicer's judgment would materially
affect the validity of such Appraisal. The Special Servicer shall make its fair
value determination as soon as reasonably practicable (but in any event within
30 days) after its receipt of such new Appraisal, if applicable. The Special
Servicer is permitted to change, from time to time, its determination of the
fair value of a Defaulted Mortgage Loan based upon changed circumstances, new
information or otherwise, in accordance with the Servicing Standard; provided,
however, the Special Servicer shall update its determination of the fair value
at least once every 90 days. The Special Servicer shall notify the Trustee, the
Master Servicer, each Rating Agency and the Majority Subordinate
Certificateholder promptly upon its fair value determination and any adjustment
thereto. In determining the fair value of any Defaulted Mortgage Loan, the
Special Servicer shall take into account, among other factors, the period and
amount of the delinquency on such Mortgage Loan, the occupancy level and
physical condition of the related Mortgaged Property, the state of the local
economy in the area where the Mortgaged Property is located, and the time and
expense associated with a purchaser's foreclosing on the related Mortgaged
Property. In addition, the Special Servicer shall refer to all other relevant
information obtained by it or otherwise contained in the Mortgage Loan File;
provided that the Special Servicer shall take account of any change in
circumstances regarding the related Mortgaged Property known to the Special
Servicer that has occurred subsequent to, and that would, in the Special
Servicer's reasonable judgment, materially affect the value of the related
Mortgaged Property reflected in the most recent related Appraisal. Furthermore,
the Special Servicer shall consider all available objective third-party
information obtained from generally available sources, as well as information
obtained from vendors providing real estate services to the Special Servicer,
concerning the market for distressed real estate loans and the real estate
market for the subject property type in the area where the related Mortgaged
Property is located. The Special Servicer may conclusively rely on the opinion
and reports of Independent third parties in making such determination.

            (c) Subject to the terms set forth in Section 2.03, in the event a
Mortgage Loan (other than the 2006-C28 Serviced Mortgage Loan) becomes a
Defaulted Mortgage Loan, each of the Majority Subordinate Certificateholder and
the Special Servicer shall have an assignable option (a "Purchase Option") to
purchase such Defaulted Mortgage Loan from the Trust Fund at a price (the
"Option Price") equal to (i) the Purchase Price, if the Special Servicer has not
yet determined the fair value of the Defaulted Mortgage Loan, or (ii) the fair
value of the Defaulted Mortgage Loan as determined by the Special Servicer in
the manner described in Section 3.18(b) and in accordance with the Servicing
Standard, if the Special Servicer has made such fair value determination. Any
holder of a Purchase Option may sell, transfer, assign or otherwise convey its
Purchase Option with respect to any Defaulted Mortgage Loan to any party other
than the related Mortgagor or an Affiliate of the related Mortgagor under the
Mortgage Loan at any time after the related Mortgage Loan becomes a Defaulted
Mortgage Loan. The transferor of any Purchase Option shall notify the Trustee
and the Master Servicer of such transfer and such notice shall include the
transferee's name, address, telephone number, facsimile number and appropriate
contact person(s) and shall be acknowledged in writing by the transferee at
least five (5) Business Days in advance of such intended transfer.
Notwithstanding the foregoing, and subject to Section 3.18(d) of this Agreement,
the Majority Subordinate Certificateholder shall have the right to exercise its
Purchase Option prior to any exercise of the Purchase Option by any other holder
of a Purchase Option; provided, however, if the Purchase Option is not exercised
by the Majority Subordinate Certificateholder or any assignee thereof within 60
days of a Mortgage Loan (other than the 2006-C28 Serviced Mortgage Loan)
becoming a Defaulted Mortgage Loan, then the Special Servicer shall have the
right to exercise its Purchase Option prior to any exercise by the Majority
Subordinate Certificateholder and the Special Servicer or its assignee may
exercise such Purchase Option at any time during the fifteen day period
immediately following the expiration of such 60-day period. Following the
expiration of such fifteen day period, the Majority Subordinate
Certificateholder shall again have the right to exercise its Purchase Option
prior to any exercise of the Purchase Option by the Special Servicer. If not
exercised earlier, the Purchase Option with respect to any Defaulted Mortgage
Loan will automatically terminate (i) once the related Defaulted Mortgage Loan
is no longer a Defaulted Mortgage Loan; provided, however, if such Mortgage Loan
subsequently becomes a Defaulted Mortgage Loan, the related Purchase Option
shall again be exercisable, (ii) upon the acquisition, by or on behalf of the
Trust Fund, of title to the related Mortgaged Property through foreclosure or
deed in lieu of foreclosure or (iii) the modification or pay-off, in full or at
a discount, of such Defaulted Mortgage Loan in connection with a workout.

            (d) Notwithstanding the provisions of Section 3.18(c), Section
3.18(g) or Section 3.18(h), pursuant to the terms of the Intercreditor
Agreements, a Companion Holder will have the right to purchase the related
Co-Lender Loan or related REO Property (other than, the REO Property relating to
the 2006-C28 Serviced Mortgage Loan) in certain circumstances. Such right of the
related Companion Holder shall have priority over any provision described in
Section 3.18(c), Section 3.18(g) or Section 3.18(h). If the Co-Lender Loan or
REO Property (other than the REO Property relating to the 2006-C28 Serviced
Mortgage Loan) is purchased by the related Companion Holder, repurchased by the
applicable Mortgage Loan Seller or otherwise ceases to be subject to this
Agreement, the related Companion Loan will no longer be subject to this
Agreement. Neither the Trustee nor the Trust Fund shall acquire a Companion
Loan; provided, however, the Master Servicer or an affiliate may own or acquire
the Companion Loans. With respect to each Loan Pair, the related Companion
Holder shall be entitled to exercise any cure rights given to it under the
related Intercreditor Agreement, in each case subject to any conditions or
restrictions described in or incorporated by reference into such sections.

            (e) Upon receipt of notice from the Special Servicer indicating that
a Mortgage Loan (other than the 2006-C28 Serviced Mortgage Loan) has become a
Defaulted Mortgage Loan, the holder (whether the original grantee of such option
or any subsequent transferee) of the Purchase Option may exercise the Purchase
Option by providing the Master Servicer and the Trustee written notice thereof
(the "Purchase Option Notice"), in the form of Exhibit M, which notice shall
identify the Person that, on its own or through an Affiliate, will acquire the
related Mortgage Loan upon closing and shall specify a cash exercise price at
least equal to the Option Price. The Purchase Option Notice shall be delivered
in the manner specified in Section 11.05. The exercise of any Purchase Option
pursuant to this Section 3.18(e) shall be irrevocable.

            (f) If the Special Servicer or the Majority Subordinate
Certificateholder, or any of their respective Affiliates, is identified in the
Purchase Option Notice as the Person expected to acquire the related Mortgage
Loan, the Trustee shall determine as soon as reasonably practicable (and, in any
event, within 30 days) after the Trustee has received the written notice,
whether the Option Price represents fair value for the Defaulted Mortgage Loan;
provided that if the Special Servicer is then in the process of obtaining a new
Appraisal with respect to the related Mortgaged Property, then the Trustee
shall, in accordance with its good faith and reasonable judgment, make its fair
value determination with respect to such Mortgage Loan as soon as reasonably
practicable (but in any event within 30 days) after the Trustee's receipt of
such new Appraisal. The Trustee may rely on the opinion and reports of
Independent third parties in making such determination; provided that the
Trustee may rely on the most current Appraisal obtained for the related
Mortgaged Property pursuant to this Agreement. In determining the fair value of
any Defaulted Mortgage Loan, the Trustee shall take into account, and any
Independent third party shall be instructed to take into account, among other
factors, the period and amount of the delinquency on such Mortgage Loan, the
occupancy level and physical condition of the related Mortgaged Property, the
state of the local economy in the area where the Mortgaged Property is located,
and the time and expense associated with a purchaser's foreclosing on the
related Mortgaged Property. In addition, the Trustee shall refer, and any
Independent third party shall be instructed to refer, to all relevant
information delivered to it by the Special Servicer or otherwise contained in
the Mortgage Loan File. Furthermore, the Trustee shall consider, and any
Independent third party shall be instructed to consider, all available objective
third-party information obtained from generally available sources, concerning
the market for distressed real estate loans and the real estate market for the
subject property type in the area where the related Mortgaged Property is
located. The reasonable costs of all appraisals, inspection reports and broker
opinions of value, reasonably incurred by the Trustee or any such third party
pursuant to this subsection shall be advanced by the Master Servicer and shall
constitute, and be reimbursable as, Servicing Advances (or if such Advance is
deemed to be a Nonrecoverable Advance such costs shall be reimbursable as
Additional Trust Fund Expenses from the Certificate Account pursuant to Section
3.05(a)). The other parties to this Agreement shall cooperate with all
reasonable requests for information.

            (g) Unless and until the Purchase Option with respect to a Defaulted
Mortgage Loan is exercised, the Special Servicer shall pursue such other
resolution strategies available hereunder with respect to such Defaulted
Mortgage Loan, including, without limitation, workout and foreclosure, as the
Special Servicer may deem appropriate consistent with the Servicing Standard;
provided, however, the Special Servicer will not be permitted to sell the
Defaulted Mortgage Loan other than in connection with the exercise of the
related Purchase Option.

            (h) In the event that title to any REO Property (other than the REO
Property relating to the 2006-C28 Serviced Mortgage Loan) is acquired by the
Trust Fund in respect of any Defaulted Mortgage Loan, the deed or certificate of
sale shall be issued to the Trust Fund, the Trustee or to its nominees. The
Special Servicer, after notice to the Controlling Class Representative, shall
use its reasonable best efforts to sell any such REO Property as soon as
practicable in accordance with Section 3.16(a). If the Special Servicer on
behalf of the Trustee has not received an REO Extension or an Opinion of Counsel
described in Section 3.16(a) and the Special Servicer is not able to sell such
REO Property within the period specified above, or if an REO Extension has been
granted and the Special Servicer is unable to sell such REO Property within the
extended time period, the Special Servicer shall, after consultation with the
Controlling Class Representative, before the end of such period or extended
period, as the case may be, auction the REO Property to the highest bidder
(which may be the Special Servicer) in accordance with the Servicing Standard.
The Special Servicer shall give the Controlling Class Representative, the Master
Servicer and the Trustee not less than 5 days' prior written notice of its
intention to sell any REO Property, and in respect of such sale, the Special
Servicer shall offer such REO Property in a commercially reasonable manner.
Where any Interested Person is among those bidding with respect to an REO
Property, the Special Servicer shall require that all bids be submitted in
writing and be accompanied by a refundable deposit of cash in an amount equal to
5% of the bid amount. No Interested Person shall be permitted to purchase the
REO Property at a price less than the Purchase Price; provided, further, if the
Special Servicer intends to bid on any REO Property, (i) the Special Servicer
shall notify the Trustee of such intent, (ii) the Trustee shall promptly obtain,
at the expense of the Trust Fund, an Appraisal of such REO Property and (iii)
the Special Servicer shall not bid less than the greater of (a) the fair market
value set forth in such Appraisal or (b) the Purchase Price.

            (i) Subject to the REMIC Provisions, the Special Servicer shall act
on behalf of the Trust Fund in negotiating and taking any other action necessary
or appropriate in connection with the sale of any REO Property (other than the
REO Property relating to the 2006-C28 Serviced Mortgage Loan) or the exercise of
a Purchase Option, including the collection of all amounts payable in connection
therewith. Notwithstanding anything to the contrary herein, neither the Trustee,
in its individual capacity, nor any of its Affiliates may bid for or purchase
any REO Property (other than the REO Property relating to the 2006-C28 Serviced
Mortgage Loan) or purchase any Defaulted Mortgage Loan. Any sale of a Defaulted
Mortgage Loan (pursuant to a Purchase Option) or an REO Property shall be
without recourse to, or representation or warranty by, the Trustee, the
Depositor, the Special Servicer, the Master Servicer, any Mortgage Loan Seller
or the Trust Fund. Notwithstanding the foregoing, nothing herein shall limit the
liability of the Master Servicer, the Special Servicer or the Trustee to the
Trust Fund and the Certificateholders for failure to perform its duties in
accordance herewith. None of the Special Servicer, the Master Servicer, the
Depositor or the Trustee shall have any liability to the Trust Fund or any
Certificateholder with respect to the price at which a Defaulted Mortgage Loan
is sold if the sale is consummated in accordance with the terms of this
Agreement.

            (j) Upon exercise of a Purchase Option, the holder of such Purchase
Option shall be required to pay the purchase price specified in its Purchase
Option Notice to the Special Servicer within 10 Business Days of exercising its
Purchase Option. The proceeds of any sale of a Defaulted Mortgage Loan, after
deduction of the expenses of such sale incurred in connection therewith, shall
be remitted by the Special Servicer to the Master Servicer within 1 Business Day
of receipt for deposit into the Certificate Account. The Special Servicer shall
immediately notify the Trustee upon the holder of the effective Purchase
Option's failure to remit the purchase price specified in its Purchase Option
Notice pursuant to this Section 3.18(j). Thereafter, the Special Servicer shall
notify each holder of a Purchase Option of such failure and such holder of a
Purchase Option may then exercise its Purchase Option in accordance with this
Section 3.18.

            (k) Notwithstanding anything herein to the contrary, the Special
Servicer shall not take or refrain from taking any action pursuant to
instructions from the Controlling Class Representative that would cause it to
violate applicable law or any term or provision of this Agreement, including the
REMIC Provisions and the Servicing Standard.

            (l) The amount paid for a Defaulted Mortgage Loan (other than the
2006-C28 Serviced Mortgage Loan) or related REO Property (other than the REO
Property relating to the 2006-C28 Serviced Mortgage Loan) purchased under this
Agreement shall be deposited into the Certificate Account, or if applicable,
applied in accordance with the related Intercreditor Agreement (except that
portion of any purchase price constituting Gain-on-Sale Proceeds which shall be
deposited in the Gain-on-Sale Reserve Account). Upon receipt of an Officer's
Certificate from the Master Servicer to the effect that such deposit has been
made, the Trustee shall execute and deliver such instruments of transfer or
assignment, in each case without recourse, as shall be provided to it and are
reasonably necessary to vest in the purchaser of such Defaulted Mortgage Loan or
related REO Property ownership of the Defaulted Mortgage Loan or related REO
Property. The Custodian, upon receipt of a Request for Release, shall release or
cause to be released to the Master Servicer or Special Servicer the related
Mortgage File. In connection with any such purchase, the Special Servicer shall
deliver the related Servicing File to the purchaser of a Defaulted Mortgage Loan
or related REO Property.

            (m) Notwithstanding the foregoing, each mezzanine lender will have
the right to purchase the related Mortgage Loan and cure defaults relating
thereto as set forth in the related mezzanine intercreditor agreement.

            Section 3.19. Additional Obligations of Master Servicer and Special
Servicer.

            (a) The Master Servicer shall deposit in the Certificate Account on
each P&I Advance Date, without any right of reimbursement therefor with respect
to each Mortgage Loan (other than a Specially Serviced Mortgage Loan and other
than any Mortgage Loan for which the Special Servicer has waived a prepayment
restriction) that was subject to a voluntary Principal Prepayment during the
most recently ended Collection Period creating a Prepayment Interest Shortfall,
an amount equal to the lesser of (i) the amount of the related Prepayment
Interest Shortfall and (ii) the sum of (A) the Master Servicing Fee (calculated
for this purpose only at a rate of 0.0100% per annum) received by the Master
Servicer during such Collection Period on such Mortgage Loan and (B) investment
income earned by the Master Servicer on the related Principal Prepayment during
the most recently ended Collection Period; provided, however, to the extent any
such Prepayment Interest Shortfall is the result of the Master Servicer's
failure to enforce the applicable Mortgage Loan documents the amount in clause
(A) shall include the entire Master Servicing Fee on the applicable Mortgage
Loan for such Collection Period.

            (b) The Master Servicer shall, as to each Mortgage Loan which is
secured by the interest of the related Mortgagor under a Ground Lease, promptly
(and in any event within 60 days of the Closing Date) notify the related ground
lessor in writing of the transfer of such Mortgage Loan to the Trust Fund
pursuant to this Agreement and inform such ground lessor that any notices of
default under the related Ground Lease should thereafter be forwarded to the
Master Servicer.

            (c) The Master Servicer shall provide to each Companion Holder any
reports or notices required to be delivered to such Companion Holder pursuant to
the related Intercreditor Agreement.

            Section 3.20. Modifications, Waivers, Amendments and Consents.

            (a) Subject to Sections 3.20(b) through 3.20(n) below and further
      subject to Sections 3.08(b) and 6.11 and further subject to any applicable
      intercreditor agreement or similar agreement, the Master Servicer (to the
      extent provided in Section 3.02(a) and Section 3.20(i) below) and the
      Special Servicer may, on behalf of the Trustee, agree to any modification,
      waiver or amendment of any term of any Mortgage Loan (including, subject
      to Section 3.20(i), the lease reviews and lease consents related thereto)
      without the consent of the Trustee or any Certificateholder.

            (b) All modifications, waivers or amendments of any Mortgage Loan
      (including, subject to Section 3.20(i), the lease reviews and lease
      consents related thereto) shall be in writing and shall be considered and
      effected in accordance with the Servicing Standard; provided, however,
      neither the Master Servicer nor the Special Servicer, as applicable, shall
      make or permit or consent to, as applicable, any modification, waiver or
      amendment of any term of any Mortgage Loan not otherwise permitted by this
      Section 3.20 that would constitute a "significant modification" of such
      Mortgage Loan within the meaning of Treasury Regulations Section
      1.860G-2(b).

            (c) Except as provided in 3.20(d) and the last sentence of Section
      3.02(a), the Special Servicer, on behalf of the Trustee, shall not agree
      or consent to any modification, waiver or amendment of any term of any
      Mortgage Loan that would:

            (i) affect the amount or timing of any related payment of principal,
      interest or other amount (including Prepayment Premiums or Yield
      Maintenance Charges, but excluding Penalty Interest and amounts payable as
      additional servicing compensation) payable thereunder;

            (ii) affect the obligation of the related Mortgagor to pay a
      Prepayment Premium or Yield Maintenance Charge or permit a Principal
      Prepayment during any period in which the related Mortgage Note prohibits
      Principal Prepayments;

            (iii) except as expressly contemplated by the related Mortgage or
      pursuant to Section 3.09(d), result in a release of the lien of the
      Mortgage on any material portion of the related Mortgaged Property without
      a corresponding Principal Prepayment in an amount not less than the fair
      market value (as determined by an appraisal by an Independent Appraiser
      delivered to the Special Servicer at the expense of the related Mortgagor
      and upon which the Special Servicer may conclusively rely) of the property
      to be released other than in connection with a taking of all or part of
      the related Mortgaged Property or REO Property for not less than fair
      market value by exercise of the power of eminent domain or condemnation or
      casualty or hazard losses with respect to such Mortgaged Property or REO
      Property;

            (iv) if such Mortgage Loan is equal to or in excess of 5% of the
      then aggregate current principal balances of all Mortgage Loans or
      $35,000,000 (or, with respect to Moody's, $25,000,000), or is one of the
      ten largest Mortgage Loans by Stated Principal Balance as of such date,
      permit the transfer or transfers of (A) the related Mortgaged Property or
      any interest therein or (B) equity interests in the Mortgagor or any
      equity owner of the Mortgagor that would result, in the aggregate during
      the term of the related Mortgage Loan, in a transfer greater than 49% of
      the total interest in the Mortgagor and/or any equity owner of the
      Mortgagor or a transfer of voting control in the Mortgagor or an equity
      owner of the Mortgagor without the prior written confirmation from each
      Rating Agency that such changes will not result in the qualification,
      downgrade or withdrawal to the ratings then assigned to the Certificates;

            (v) allow any additional lien on the related Mortgaged Property if
      such Mortgage Loan is equal to or in excess of 2% of the then aggregate
      current principal balances of the Mortgage Loans or $20,000,000, is one of
      the ten largest Mortgage Loans by Stated Principal Balance as of such
      date, or with respect to S&P only, has an aggregate Loan-to-Value Ratio
      that is equal to or greater than 85% or has an aggregate Debt Service
      Coverage Ratio that is less than 1.20x, without the prior written
      confirmation from each Rating Agency (as applicable) that such change will
      not result in the qualification, downgrade or withdrawal or the ratings
      then assigned to the Certificates; or

            (vi) in the reasonable, good faith judgment of the Special Servicer,
      otherwise materially impair the security for such Mortgage Loan or reduce
      the likelihood of timely payment of amounts due thereon.

            (d) Notwithstanding Section 3.20(c), but subject to the third
      paragraph of this Section 3.20(d), and the rights of the Controlling Class
      Representative and the rights (if any) of a Companion Holder (other than
      the holders of the Non-Serviced Companion Loans) pursuant to the related
      Intercreditor Agreement, the Special Servicer may (i) reduce the amounts
      owing under any Specially Serviced Mortgage Loan by forgiving principal,
      accrued interest or any Prepayment Premium or Yield Maintenance Charge,
      (ii) reduce the amount of the Periodic Payment on any Specially Serviced
      Mortgage Loan, including by way of a reduction in the related Mortgage
      Rate, (iii) forbear in the enforcement of any right granted under any
      Mortgage Note or Mortgage relating to a Specially Serviced Mortgage Loan,
      (iv) extend the maturity date of any Specially Serviced Mortgage Loan (and
      the Master Servicer may extend the maturity date of Mortgage Loans with an
      original maturity of five years or less with the approval of the
      Controlling Class for up to two (2) six-month extensions), or (v) accept a
      Principal Prepayment on any Specially Serviced Mortgage Loan during any
      Lockout Period; provided that (A) the related Mortgagor is in default with
      respect to the Specially Serviced Mortgage Loan or, in the reasonable,
      good faith judgment of the Special Servicer, such default is reasonably
      foreseeable, and (B) in the reasonable, good faith judgment of the Special
      Servicer, such modification would increase the recovery on the Mortgage
      Loan to Certificateholders on a net present value basis (the relevant
      discounting of amounts that will be distributable to Certificateholders to
      be performed at the related Net Mortgage Rate). In the case of every other
      modification, waiver or consent, the Special Servicer shall determine and
      may rely on an Opinion of Counsel (which Opinion of Counsel shall be an
      expense of the Trust Fund to the extent not paid by the related Mortgagor)
      to the effect that such modification, waiver or amendment would not both
      (1) effect an exchange or reissuance of the Mortgage Loan under Treasury
      Regulations Section 1.860G-2(b) of the Code and (2) cause either of REMIC
      I or REMIC II to fail to qualify as a REMIC under the Code or result in
      the imposition of any tax on "prohibited transactions" or "contributions"
      after the Startup Day under the REMIC Provisions.

            In addition, notwithstanding Section 3.20(c), but subject to the
third paragraph of this Section 3.20(d), the Special Servicer may extend the
date on which any Balloon Payment is scheduled to be due in respect of a
Specially Serviced Mortgage Loan if the conditions set forth in the proviso to
the prior paragraph are satisfied and the Special Servicer has obtained an
Appraisal of the related Mortgaged Property, in connection with such extension,
which Appraisal supports the determination of the Special Servicer contemplated
by clause (B) of the proviso to the immediately preceding paragraph.

            In no event will the Special Servicer (i) extend the maturity date
of a Mortgage Loan beyond a date that is two years prior to the Rated Final
Distribution Date, (ii) reduce the Mortgage Rate of a Mortgage Loan to less than
the lesser of (A) the original Mortgage Rate of such Mortgage Loan, (B) the
highest Pass-Through Rate of any Class of Certificates (other than the Class IO
Certificates) then outstanding and (C) a rate below the then prevailing interest
rate for comparable loans, as determined by the Special Servicer, (iii) if the
Mortgage Loan is secured by a Ground Lease (and not by the corresponding fee
simple interest), extend the maturity date of such Mortgage Loan beyond a date
which is less than 20 years prior to the expiration of the term of such Ground
Lease; (iv) defer interest due on any Mortgage Loan in excess of 10% of the
Stated Principal Balance of such Mortgage Loan or defer the collection of
interest on any Mortgage Loan without accruing interest on such deferred
interest at a rate at least equal to the Mortgage Rate of such Mortgage Loan.

            The determination of the Special Servicer contemplated by clause (B)
of the proviso to the first paragraph of this Section 3.20(d) shall be evidenced
by an Officer's Certificate to such effect delivered to the Trustee and the
Master Servicer and describing in reasonable detail the basis for the Special
Servicer's determination. The Special Servicer shall append to such Officer's
Certificate any information including but not limited to income and expense
statements, rent rolls, property inspection reports and appraisals that support
such determination.

            (e) Any payment of interest that is deferred pursuant to any
      modification, waiver or amendment permitted hereunder, shall not, for
      purposes hereof, including, without limitation, calculating monthly
      distributions to Certificateholders, be added to the unpaid principal
      balance or Stated Principal Balance of the related Mortgage Loan,
      notwithstanding that the terms of such modification, waiver or amendment
      so permit. The foregoing shall in no way limit the Special Servicer's
      ability to charge and collect from the Mortgagor costs otherwise
      collectible under the terms of the related Mortgage Note and this
      Agreement together with interest thereon.

            (f) The Special Servicer or, with respect to clause (i) below, the
      Master Servicer may, as a condition to granting any request by a Mortgagor
      for consent, modification, waiver or indulgence or any other matter or
      thing, the granting of which is within its discretion pursuant to the
      terms of the instruments evidencing or securing the related Mortgage Loan
      and is permitted by the terms of this Agreement, require that such
      Mortgagor pay to it (i) as additional servicing compensation, a reasonable
      or customary fee for the additional services performed in connection with
      such request; provided such fee would not itself be a "significant
      modification" pursuant to Treasury Regulations Section 1.1001-3(e)(2) and
      (ii) any related costs and expenses incurred by it. In no event shall the
      Master Servicer or the Special Servicer be entitled to payment for such
      fees or expenses unless such payment is collected from the related
      Mortgagor.

            (g) The Special Servicer shall notify the Master Servicer, any
      related Sub-Servicers, the Trustee, the Controlling Class Representative,
      the Rating Agencies and with respect to any Co-Lender Loan, the related
      Companion Holder, in writing, of any material modification, waiver or
      amendment of any term of any Mortgage Loan (including fees charged the
      Mortgagor) and the date thereof, and shall deliver to the Custodian for
      deposit in the related Mortgage File, an original counterpart of the
      agreement relating to such modification, waiver or amendment, promptly
      (and in any event within ten Business Days) following the execution
      thereof. Copies of each agreement whereby any such modification, waiver or
      amendment of any term of any Mortgage Loan is effected shall be made
      available for review upon prior request during normal business hours at
      the offices of the Special Servicer pursuant to Section 3.15 hereof.

            (h) The Master Servicer shall not permit defeasance of any Mortgage
      Loan to the extent inconsistent with the terms of such Mortgage Loan.
      Unless and to the extent the Master Servicer is precluded from preventing
      such defeasance by the related Mortgage Loan documents or otherwise
      (provided that the Master Servicer shall not allow such defeasance to
      cause either of REMIC I or REMIC II created hereunder to fail to qualify
      as a REMIC; provided, further, the Master Servicer may rely on an Opinion
      of Counsel as provided for in (ii) below), the Master Servicer will not
      permit defeasance of any Mortgage Loan, unless: (i) the defeasance
      collateral consists of non-callable "government securities" within the
      meaning of the Investment Company Act of 1940, (ii) the Master Servicer
      has determined that the defeasance will not result in an Adverse REMIC
      Event (provided that the Master Servicer shall be entitled to rely
      conclusively on an Opinion of Counsel to that effect), (iii) the Master
      Servicer has notified the Rating Agencies, (iv) to the extent the
      defeasance of the Mortgage Loan is required by the then current applicable
      Rating Agency criteria to be reviewed by a Rating Agency, such Rating
      Agency has confirmed that such defeasance will not result in the
      qualification, downgrade or withdrawal of the rating then assigned to any
      Class of Certificates to which a rating has been assigned by such Rating
      Agency, (provided that no confirmation from S&P shall be required if the
      Mortgage Loan being defeased, together with all Mortgage Loans
      cross-collateralized with such Mortgage Loan, (i) is not one of the ten
      (10) largest Mortgage Loans (or cross-collateralized groups of Mortgage
      Loans) by Stated Principal Balance in the Trust Fund, and (ii) has a
      Stated Principal Balance at the time of the defeasance that is less than
      $20,000,000 and less than 5% of the aggregate Stated Principal Balance at
      the time of the defeasance of the Mortgage Loans and the Master Servicer
      shall have delivered a Defeasance Certificate substantially in the form of
      Exhibit N hereto), (v) the Master Servicer has requested and received from
      the related Mortgagor (A) an Opinion of Counsel generally to the effect
      that the Trustee will have a perfected, first priority security interest
      in such defeasance collateral and (B) written confirmation from a firm of
      Independent accountants stating that payments made on such defeasance
      collateral in accordance with the terms thereof will be sufficient to pay
      the subject Mortgage Loan in full on or before its Stated Maturity Date
      and in accordance with the Periodic Payment (or, in the case of an ARD
      Loan, on or before its Anticipated Repayment Date) and to timely pay each
      Periodic Payment scheduled to be due on or prior thereto but after the
      defeasance and (vi) a single purpose entity (as defined below) is
      designated to assume the Mortgage Loan and own the defeasance collateral;
      provided that if under the terms of the related Mortgage Loan documents,
      the related Mortgagor delivers cash to purchase the defeasance collateral
      rather than the defeasance collateral itself, the Master Servicer shall
      purchase the U.S. government obligations contemplated by the related
      Mortgage Loan documents on behalf of the related Mortgagor. Any customary
      and reasonable out-of-pocket expense incurred by the Master Servicer
      pursuant to this Section 3.20(h) shall be paid by the Mortgagor of the
      defeased Mortgage Loan pursuant to the related Mortgage, Mortgage Note or
      other pertinent document. Notwithstanding the foregoing, if at any time, a
      court with jurisdiction in the matter shall hold that the related
      Mortgagor may obtain a release of the subject Mortgaged Property but is
      not obligated to deliver the full amount of the defeasance collateral
      contemplated by the related Mortgage Loan documents (or cash sufficient to
      purchase such defeasance collateral), then the Master Servicer shall (i)
      if consistent with the related Mortgage Loan documents, refuse to allow
      the defeasance of the Mortgage Loan or (ii) if the Master Servicer cannot
      so refuse and if the related Mortgagor has delivered cash to purchase the
      defeasance collateral, the Master Servicer shall either (A) buy such
      defeasance collateral or (B) prepay the Mortgage Loan, in either case, in
      accordance with the Servicing Standard. For purposes of this paragraph, a
      "single purpose entity" shall mean a Person, other than an individual,
      whose organizational documents provide as follows: it is formed solely for
      the purpose of owning and pledging Defeasance Collateral related to one or
      more of the Mortgage Loans; it may not engage in any business unrelated to
      such Defeasance Collateral and the financing thereof; it does not have and
      may not own any assets other than those related to its interest in the
      Defeasance Collateral or the financing thereof and may not incur any
      indebtedness other than as permitted by the related Mortgage or Mortgages;
      it shall maintain its own books, records and accounts, in each case which
      are separate and apart from the books, records and accounts of any other
      person; it shall hold regular meetings, as appropriate, to conduct its
      business, and shall observe all entity-level formalities and record
      keeping; it shall conduct business in its own name and use separate
      stationery, invoices and checks; it may not guarantee or assume the debts
      or obligations of any other person other than in connection with the
      defeasance of a Mortgage Loan; it shall not commingle its assets or funds
      with those of any other person; it shall pay its obligations and expenses
      from its own funds and allocate and charge reasonably and fairly any
      common employees or overhead shared with affiliates; it shall prepare
      separate tax returns and financial statements or, if part of a
      consolidated group, shall be shown as a separate member of such group; it
      shall transact business with affiliates on an arm's length basis pursuant
      to written agreements; and it shall hold itself out as being a legal
      entity, separate and apart from any other person. The single purpose
      entity organizational documents shall provide that any dissolution and
      winding up or insolvency filing for such entity requires the unanimous
      consent of all partners or members, as applicable, and that such documents
      may not be amended with respect to the single purpose entity requirements
      during the term of the Mortgage Loan.

            (i) For any Mortgage Loan (other than a Specially Serviced Mortgage
      Loan or the 2006-C28 Serviced Mortgage Loan) and subject to the rights of
      the Special Servicer set forth in this Section 3.20, the Master Servicer,
      without the consent of the Special Servicer or the Controlling Class
      Representative, as applicable, shall be responsible for any request by a
      Mortgagor for the consent of the mortgagee for a modification, waiver or
      amendment of any term with respect to:

            (i) approving routine leasing activity (including any subordination,
      standstill and attornment agreements) with respect to any lease for less
      than the lesser of (a) 30,000 square feet or (b) 30% of the related
      Mortgaged Property;

            (ii) approving a change of the property manager at the request of
      the related Mortgagor; provided that (A) the successor property manager is
      not affiliated with the Mortgagor and is a nationally or regionally
      recognized manager of similar properties, (B) the related Mortgage Loan
      does not have an outstanding principal balance in excess of $5,000,000 and
      (C) the subject Mortgaged Property does not secure a Companion Loan;

            (iii) approving any waiver affecting the timing of receipt of
      financial statements from any Mortgagor; provided that such financial
      statements are delivered no less than quarterly and within 60 days of the
      end of the calendar quarter;

            (iv) approving annual budgets for the related Mortgaged Property;
      provided that no such budget (1) provides for the payment of operating
      expenses in an amount equal to more than 110% of the amounts budgeted
      therefor for the prior year or (2) provides for the payment of any
      material expenses to any affiliate of the Mortgagor (other than the
      payment of a management fee to any property manager if such management fee
      is no more than the management fee in effect on the Cut-Off Date);

            (v) subject to other restrictions herein regarding Principal
      Prepayments, waiving any provision of a Mortgage Loan requiring a
      specified number of days notice prior to a Principal Prepayment;

            (vi) approving modifications, consents or waivers (other than those
      set forth in Section 3.20(c)) in connection with a defeasance permitted by
      the terms of the related Mortgage Loan if the Master Servicer receives an
      Opinion of Counsel (which Opinion of Counsel shall be an expense of the
      Mortgagor) to the effect that such modification, waiver or consent would
      not cause any REMIC to fail to qualify as a REMIC under the Code or result
      in a "prohibited transaction" under the REMIC Provisions;

            (vii) consent to subject the related Mortgaged Property to an
      easement or right-of-way for utilities, access, parking, public
      improvements or another purpose, and may consent to subordination of the
      related Mortgage Loan to such easement or right-of-way; provided that the
      Master Servicer shall have determined in accordance with the Servicing
      Standard that such easement or right-of-way shall not materially interfere
      with the then current use of the related Mortgaged Property, or the
      security intended to be provided by such Mortgage, the related Mortgagor's
      ability to repay the Mortgage Loan, or materially or adversely affect the
      value of such Mortgaged Property or cause the Mortgage Loan to cease to be
      a "qualified mortgage" for REMIC purposes; and

            (viii) approving the renewal or release of any letters of credit
      with respect to any Mortgage Loan; provided that the Master Servicer shall
      obtain the approval of the Special Servicer and the Controlling Class
      Representative prior to approving the modification, waiver or amendment of
      any letters of credit with respect to any Mortgage Loan.

provided, however, if the Mortgage Loan is a Co-Lender Loan, the Master Servicer
shall provide written notice of such modification, waiver and amendment to the
related Companion Holder to the extent required under the related Intercreditor
Agreement; provided, further, the Master Servicer shall promptly notify the
Special Servicer of any requests not subject to this Section 3.20(i) for which
the Special Servicer is responsible pursuant to this Section 3.20 and shall
deliver to the Special Servicer (which delivery may be by electronic
transmission in a format acceptable to the Master Servicer and Special Servicer)
a copy of the request, and all information in the possession of the Master
Servicer that the Special Servicer may reasonably request related thereto.

            (j) [Reserved].

            (k) To the extent that either the Master Servicer or Special
      Servicer waives any Penalty Interest or late charge in respect of any
      Mortgage Loan, whether pursuant to Section 3.02(a) or this Section 3.20,
      the respective amounts of additional servicing compensation payable to the
      Master Servicer and the Special Servicer under Section 3.11 out of such
      Penalty Interest or late payment charges shall be reduced proportionately,
      based upon the respective amounts that had been payable thereto out of
      such Penalty Interest or late payment charges immediately prior to such
      waiver.

            (l) Notwithstanding anything to the contrary in this Agreement,
      neither the Master Servicer nor the Special Servicer, as applicable, shall
      take the following action unless it has received prior written
      confirmation (the cost of which shall be paid by the related Mortgagor, if
      so allowed by the terms of the related Mortgage Loan documents) from the
      Rating Agencies that such action will not result in a qualification,
      downgrade or withdrawal of any of the ratings assigned by such Rating
      Agency to the Certificates:

            (i) With respect to any Mortgaged Property that secures a Mortgage
      Loan with an unpaid principal balance that is at least equal to five
      percent (5%) of the then aggregate principal balance of all Mortgage Loans
      or $20,000,000, the giving of any consent, approval or direction regarding
      the termination of the related property manager or the designation of any
      replacement property manager; and

            (ii) With respect to each Mortgage Loan with an unpaid principal
      balance that is equal to or greater than (A) two percent (2%) of the then
      aggregate principal balance of all the Mortgage Loans or (B) $10,000,000
      and which is secured by a Mortgaged Property which is a hospitality
      property, the giving of any consent to any change in the franchise
      affiliation of such Mortgaged Property.

            (m) In the event the Special Servicer, in connection with a
      modification, waiver or amendment in respect of any Co-Lender Loan (other
      than the 2006-C28 Serviced Mortgage Loan), modifies, waives or amends the
      terms thereof such that (i) the Stated Principal Balance is decreased,
      (ii) the Mortgage Rate is reduced, (iii) payments of interest or principal
      are waived, reduced or deferred or (iv) any other adjustment is made to
      any of the terms of such Co-Lender Loan, all payments made in respect of
      the related Mortgage Loan shall be made as though such modification,
      waiver or amendment did not occur, with the payment terms of such
      Co-Lender Loan remaining the same as they are on the related Cut Off Date,
      and the related Subordinate Companion Loan(s) shall bear the full economic
      effect of all waivers, reductions or deferrals of amounts due on such
      Co-Lender Loan attributable to such modification, waiver or amendment.

            (n) Subject to the terms of the related Intercreditor Agreement, the
      Master Servicer may extend the maturity date of Mortgage Loans with an
      original maturity of five years or less with the approval of the
      Controlling Class Representative for up to two six-month extensions.

            Section 3.21. Transfer of Servicing Between Master Servicer and
Special Servicer; Record Keeping.

            (a) Upon determining that a Servicing Transfer Event has occurred
with respect to any Mortgage Loan (other than the 2006-C28 Serviced Mortgage
Loan), the Master Servicer or Special Servicer, as applicable, shall promptly
notify the Trustee and Master Servicer or Special Servicer, as applicable, and,
if the Master Servicer is not also the Special Servicer, the Master Servicer
shall immediately deliver or cause to be delivered a copy of the related
Mortgage File and Servicing File, to the Special Servicer and shall use
reasonable efforts to provide the Special Servicer with all information,
documents (or copies thereof) and records (including records stored
electronically on computer tapes, magnetic discs and the like) relating to the
Mortgage Loan and, if applicable the related Companion Loan, either in the
Master Servicer's or any of its directors', officers', employees', affiliates'
or agents' possession or control or otherwise available to the Master Servicer
without undue burden or expense, and reasonably requested by the Special
Servicer to enable it to assume its functions hereunder with respect thereto
without acting through a Sub-Servicer. The Master Servicer shall use reasonable
efforts to comply with the preceding sentence within 5 Business Days of the
occurrence of each related Servicing Transfer Event; provided, however, if the
information, documents and records requested by the Special Servicer are not
contained in the Servicing File, the Master Servicer shall have such period of
time as reasonably necessary to make such delivery. Notwithstanding the
occurrence of a Servicing Transfer Event, the Master Servicer shall continue to
receive payments on such Mortgage Loan (including amounts collected by the
Special Servicer).

            Upon determining that a Specially Serviced Mortgage Loan has become
a Corrected Mortgage Loan and if the Master Servicer is not also the Special
Servicer, the Special Servicer shall immediately give notice thereof to the
Master Servicer, and shall return the related Mortgage File and Servicing File
and all other information, documents and records that were not part of the
Servicing File when it was delivered to the Special Servicer within 5 Business
Days of the occurrence, to the Master Servicer (or such other Person as may be
directed by the Master Servicer) and upon giving such notice, and returning such
Servicing File, to the Master Servicer (or such other Person as may be directed
by the Master Servicer), the Special Servicer's obligation to service such
Mortgage Loan, and, if applicable, the Companion Loan, and the Special
Servicer's right to receive the Special Servicing Fee with respect to such
Mortgage Loan shall terminate, and the obligations of the Master Servicer to
service and administer such Mortgage Loan and, if applicable, the related
Companion Loan shall resume.

            (b) In servicing any Specially Serviced Mortgage Loans, the Special
      Servicer shall provide to the Custodian originals of documents included
      within the definition of "Mortgage File" for inclusion in the related
      Mortgage File (with a copy of each such original to the Master Servicer).

            (c) On or before each Determination Date, the Special Servicer shall
      deliver to the Master Servicer and each Rating Agency (or such other
      Person as may be directed by the Master Servicer) a statement in writing
      and in computer readable format (the form of such statement to be agreed
      upon by the Master Servicer) describing, on a loan-by-loan and
      property-by-property basis, (1) insofar as it relates to Specially
      Serviced Mortgage Loans and REO Properties, the information described in
      clauses (x) through (xiii) of Section 4.02(a) and, insofar as it relates
      to the Special Servicer, the information described in clauses (xxiv),
      (xxv) and (xxvi) of Section 4.02(a), (2) the amount of all payments,
      Insurance Proceeds and Liquidation Proceeds received, and the amount of
      any Realized Loss incurred, with respect to each Specially Serviced
      Mortgage Loan during the related Collection Period, and the amount of all
      REO Revenues, Insurance Proceeds and Liquidation Proceeds received, and
      the amount of any Realized Loss incurred, with respect to each REO
      Property during the related Collection Period, (3) the amount, purpose and
      date of all Servicing Advances requested by the Special Servicer with
      respect to each Specially Serviced Mortgage Loan and REO Property during
      the related Collection Period and (4) such additional information relating
      to the Specially Serviced Mortgage Loans and REO Properties as the Master
      Servicer reasonably requests to enable it to perform its responsibilities
      under this Agreement. Notwithstanding the foregoing provisions of this
      subsection (c), the Master Servicer shall maintain ongoing payment records
      with respect to each of the Specially Serviced Mortgage Loans and REO
      Properties and shall provide the Special Servicer with any information
      reasonably available to the Master Servicer required by the Special
      Servicer to perform its duties under this Agreement.

            (d) No later than 60 days after a Mortgage Loan and, if applicable,
      Companion Loan becomes a Specially Serviced Mortgage Loan, the Special
      Servicer shall deliver to each Rating Agency, the Trustee, the Master
      Servicer and the Controlling Class Representative (and, in the case of a
      Co-Lender Loan, the related Companion Holder), a report (the "Asset Status
      Report") with respect to such Mortgage Loan and the related Mortgaged
      Property. Such Asset Status Report shall set forth the following
      information to the extent reasonably determinable:

            (i) summary of the status of such Specially Serviced Mortgage Loan
      and negotiations with the related Mortgagor;

            (ii) a discussion of the legal and environmental considerations
      reasonably known to the Special Servicer, consistent with the Servicing
      Standard, that are applicable to the exercise of remedies as aforesaid and
      to the enforcement of any related guaranties or other collateral for the
      related Specially Serviced Mortgage Loan and whether outside legal counsel
      has been retained;

            (iii) the most current rent roll and income or operating statement
      available for the related Mortgaged Property;

            (iv) the Appraised Value of the Mortgaged Property together with the
      assumptions used in the calculation thereof;

            (v) summary of the Special Servicer's recommended action with
      respect to such Specially Serviced Mortgage Loan; and

            (vi) such other information as the Special Servicer deems relevant
      in light of the Servicing Standard.

            Any Asset Status Report with respect to a Co-Lender Loan shall also
include any additional information required by the related Intercreditor
Agreement. In addition, with respect to a Co-Lender Loan, the Controlling Class
Representative's approval or disapproval of any actions recommended by such
Asset Status Report relating to such Co-Lender Loan will be subject to the
rights of the related Companion Holder pursuant to the terms of the related
Intercreditor Agreement.

            If within 10 Business Days of receiving an Asset Status Report which
relates to a recommended action for which the Controlling Class Representative
is entitled to object under Section 6.11, the Controlling Class Representative
does not disapprove such Asset Status Report in writing, the Special Servicer
shall implement the recommended action as outlined in such Asset Status Report;
provided, however, the Special Servicer may not take any action that is contrary
to applicable law, the Servicing Standard, or the terms of the applicable
Mortgage Loan documents. If the Controlling Class Representative disapproves
such Asset Status Report, the Special Servicer will revise such Asset Status
Report and deliver to the Controlling Class Representative, the Rating Agencies
and the Master Servicer a new Asset Status Report as soon as practicable, but in
no event later than 30 days after such disapproval.

            The Special Servicer shall revise such Asset Status Report as
described above in this Section 3.21(d) until the Controlling Class
Representative shall fail to disapprove such revised Asset Status Report in
writing within 10 Business Days of receiving such revised Asset Status Report or
until the Special Servicer makes one of the determinations described below. The
Special Servicer may, from time to time, modify any Asset Status Report it has
previously delivered and implement such report; provided such report shall have
been prepared, reviewed and not rejected pursuant to the terms of this Section.
Notwithstanding the foregoing, the Special Servicer (i) may, following the
occurrence of an extraordinary event with respect to the related Mortgaged
Property, take any action set forth in such Asset Status Report (and consistent
with the terms hereof) before the expiration of a 10 Business Day period if the
Special Servicer has reasonably determined that failure to take such action
would materially and adversely affect the interests of the Certificateholders
or, if a Loan Pair is involved, the Certificateholders and the related Companion
Holders, (as a collective whole) and it has made a reasonable effort to contact
the Controlling Class Representative and (ii) in any case, shall determine
whether such affirmative disapproval is not in the best interest of all the
Certificateholders pursuant to the Servicing Standard.

            Upon making such determination in clause (ii) of the immediately
preceding paragraph, the Special Servicer shall notify the Trustee of such
rejection and deliver to the Trustee, a proposed notice to Certificateholders
which shall include a copy of the Asset Status Report, and the Trustee shall
send such notice to all Certificateholders. If the majority of such
Certificateholders, as determined by Voting Rights, fail, within 5 days of the
Trustee's sending such notice, to reject such Asset Status Report, the Special
Servicer shall implement the same. If the Asset Status Report is rejected by a
majority of the Certificateholders, (other than for a reason which violates the
Servicing Standard, which shall control), the Special Servicer shall revise such
Asset Status Report as described above in this Section 3.21(d) and provide a
copy of such revised report to the Master Servicer. The Trustee shall be
entitled to reimbursement from the Trust Fund for the reasonable expenses of
providing such notices. Notwithstanding the foregoing, the Controlling Class
Representative's approval of or failure to respond to an Asset Status Report
shall not be deemed to be a substitute for any specific consent required
pursuant to Section 6.11(a).

            The Special Servicer shall have the authority to meet with the
Mortgagor for any Specially Serviced Mortgage Loan and take such actions
consistent with the Servicing Standard, the terms hereof and the related Asset
Status Report. The Special Servicer shall not take any action inconsistent with
the related Asset Status Report, unless such action would be required in order
to act in accordance with the Servicing Standard.

            No direction of the Controlling Class Representative or the majority
of the Certificateholders shall (a) require or cause the Special Servicer to
violate the terms of a Specially Serviced Mortgage Loan, applicable law or any
provision of this Agreement, including the Special Servicer's obligation to act
in accordance with the Servicing Standard and to maintain the REMIC status of
REMIC I and REMIC II, (b) result in the imposition of a "prohibited transaction"
or "prohibited contribution" tax under the REMIC Provisions or (c) expose the
Master Servicer, the Special Servicer, the Depositor, any of the Mortgage Loan
Sellers, the Trust Fund or the Trustee or the officers and the directors of each
party to claim, suit or liability or (d) expand the scope of the Master
Servicer's, Trustee's or Special Servicer's responsibilities under this
Agreement. Notwithstanding the foregoing, it is agreed and acknowledged that,
with respect to the Co-Lender Loans, the holders of the Companion Loans have
certain consent and direction rights in the related Intercreditor Agreements,
but nothing herein shall be construed to prevent the Controlling Class
Representative from consulting on a non-binding basis with the Special Servicer
about any applicable Mortgage Loan.

            Section 3.22. Sub-Servicing Agreements.

            (a) The Master Servicer and the Special Servicer (and, with respect
to the Special Servicer, only with the consent of the Controlling Class
Representative) may enter into Sub-Servicing Agreements to provide for the
performance by third parties of any or all of their respective obligations
hereunder; provided that in each case, the Sub-Servicing Agreement: (i) is
consistent with this Agreement in all material respects, requires the
Sub-Servicer to comply with all of the applicable conditions of this Agreement
and includes events of default with respect to the Sub-Servicer substantially
similar to the Events of Default set forth in Section 7.01(a) hereof (other than
Section 7.01(a)(ix) and (x) to the extent applicable (modified to apply to the
Sub-Servicer instead of the Master Servicer); (ii) provides that if the Master
Servicer or the Special Servicer, as the case may be, shall for any reason no
longer act in such capacity hereunder (including, without limitation, by reason
of an Event of Default), the Trustee or its designee may thereupon assume all of
the rights and, except to the extent such obligations arose prior to the date of
assumption, obligations of the Master Servicer or the Special Servicer, as the
case may be, under such agreement or (except with respect only to the
Sub-Servicing Agreements in effect as of the date of this Agreement) may
terminate such Sub-Servicing Agreement without cause and without payment of any
penalty or termination fee (other than the right of reimbursement and
indemnification); (iii) provides that the Trustee, for the benefit of the
Certificateholders, shall be a third party beneficiary under such agreement, but
that (except to the extent the Trustee or its designee assumes the obligations
of the Master Servicer or the Special Servicer, as the case may be, thereunder
as contemplated by the immediately preceding clause (ii) none of the Trustee,
the Trust Fund, any successor Master Servicer or Special Servicer, as the case
may be, or any Certificateholder shall have any duties under such agreement or
any liabilities arising therefrom; (iv) permits any purchaser of a Mortgage Loan
pursuant to this Agreement to terminate such agreement with respect to such
purchased Mortgage Loan at its option and without penalty; (v) with respect to
any Sub-Servicing Agreement entered into by the Special Servicer, does not
permit the Sub-Servicer to enter into or consent to any modification, waiver or
amendment or otherwise take any action on behalf of the Special Servicer
contemplated by Section 3.20 hereof without the consent of such Special Servicer
or conduct any foreclosure action contemplated by Section 3.09 hereof or sale of
a Mortgage Loan or REO Property contemplated by Section 3.18 hereof; (vi) does
not permit the Sub-Servicer any direct rights of indemnification that may be
satisfied out of assets of the Trust Fund; and (vii) with respect to any
Sub-Servicing Agreement entered into after the Closing Date and prior to the
date upon which the Trust Fund's Exchange Act reporting obligations are
terminated by the filing of a Form 15 Suspension Notice as contemplated by
Section 8.17(m), any Sub-Servicer (which is a Reporting Party) is not a
Prohibited Party. In addition, each Sub-Servicing Agreement entered into by the
Master Servicer shall provide that such agreement shall be subject to Section
3.21 hereof with respect to any Mortgage Loan that becomes a Specially Serviced
Mortgage Loan. The Master Servicer and the Special Servicer shall each deliver
to the Trustee and to each other copies of all Sub-Servicing Agreements, and any
amendments thereto and modifications thereof, entered into by it promptly upon
its execution and delivery of such documents. References in this Agreement to
actions taken or to be taken by the Master Servicer or the Special Servicer
include actions taken or to be taken by a Sub-Servicer on behalf of the Master
Servicer or the Special Servicer, as the case may be; and, in connection
therewith, all amounts advanced by any Sub-Servicer to satisfy the obligations
of the Master Servicer or the Special Servicer hereunder to make P&I Advances or
Servicing Advances shall be deemed to have been advanced by the Master Servicer
or the Special Servicer, as the case may be, out of its own funds and,
accordingly, such P&I Advances or Servicing Advances shall be recoverable by
such Sub-Servicer in the same manner and out of the same funds as if such
Sub-Servicer were the Master Servicer or the Special Servicer, as the case may
be. For so long as they are outstanding, Advances shall accrue interest in
accordance with Sections 3.03(d) and 4.03(d), such interest to be allocable
between the Master Servicer or the Special Servicer, as the case may be, and
such Sub-Servicer as they may agree. For purposes of this Agreement, the Master
Servicer and the Special Servicer each shall be deemed to have received any
payment when a Sub-Servicer retained by it receives such payment. The Master
Servicer and the Special Servicer each shall notify the other, the Trustee and
the Depositor in writing promptly of the appointment by it of any Sub-Servicer.

            (b) Each Sub-Servicer shall be authorized to transact business in
the state or states in which the related Mortgaged Properties it is to service
are situated, if and to the extent required by applicable law.

            (c) The Master Servicer and the Special Servicer, for the benefit of
the Trustee and the Certificateholders, shall (at no expense to the Trustee, the
Certificateholders or the Trust Fund) monitor the performance and enforce the
obligations of their respective Sub-Servicers under the related Sub-Servicing
Agreements. Such enforcement, including, without limitation, the legal
prosecution of claims, termination of Sub-Servicing Agreements in accordance
with their respective terms and the pursuit of other appropriate remedies, shall
be in such form and carried out to such an extent and at such time as the Master
Servicer or the Special Servicer, as applicable, in its good faith business
judgment, would require were it the owner of the Mortgage Loans. Subject to the
terms of the related Sub-Servicing Agreement, the Master Servicer and the
Special Servicer may each have the right to remove a Sub-Servicer at any time it
considers such removal to be in the best interests of Certificateholders.

            (d) In the event of the resignation, removal or other termination of
Wachovia Bank, National Association, or any successor Master Servicer hereunder
for any reason, the Trustee or other Person succeeding such resigning, removed
or terminated party as Master Servicer, shall elect, with respect to any
Sub-Servicing Agreement in effect as of the date of this Agreement: (i) to
assume the rights and obligations of the Master Servicer under such
Sub-Servicing Agreement and continue the sub-servicing arrangements thereunder
on the same terms (including without limitation the obligation to pay the same
sub-servicing fee); (ii) to enter into a new Sub-Servicing Agreement with such
Sub-Servicer on such terms as the Trustee or other successor Master Servicer and
such Sub-Servicer shall mutually agree (it being understood that such
Sub-Servicer is under no obligation to accept any such new Sub-Servicing
Agreement or to enter into or continue negotiations with the Trustee or other
successor Master Servicer in which case the existing Sub-Servicing Agreement
shall remain in effect); or (iii) to terminate the Sub-Servicing Agreement if an
Event of Default (as defined in such Sub-Servicing Agreement) has occurred and
is continuing or otherwise in accordance with the Sub-Servicing Agreement, in
each case without paying any Sub-Servicer termination fee.

            Each Sub-Servicing Agreement will provide, among other things, that
the Master Servicer and its successors may at its sole option, terminate any
rights the Sub-Servicer may have thereunder with respect to any or all Mortgage
Loans if S&P or Moody's (i) reduces the rating assigned to one or more Classes
of the respective Certificates as a result of the sub-servicing of the Mortgage
Loans by the Sub-Servicer, or (ii) advises the Master Servicer or the Trustee in
writing that it will cause a qualification, downgrade or withdrawal of such
rating due to the continued servicing by the Sub-Servicer.

            (e) Notwithstanding any Sub-Servicing Agreement, the Master Servicer
and the Special Servicer shall remain obligated and liable to the Trustee and
the Certificateholders for the performance of their respective obligations and
duties under this Agreement in accordance with the provisions hereof to the same
extent and under the same terms and conditions as if each alone were servicing
and administering the Mortgage Loans or REO Properties for which it is
responsible.

            (f) The Special Servicer shall not enter into a Sub-Servicing
Agreement unless it receives the consent of the Controlling Class Representative
and each Rating Agency has confirmed in writing that the execution of such
agreement will not result in a qualification, downgrade, or withdrawal of the
then-current ratings on the outstanding Certificates or such Sub-Servicing
Agreement relates to a Mortgage Loan or Mortgage Loans (along with any Mortgage
Loans previously sub-serviced pursuant to this section) that represent less than
25% of the outstanding principal balance of all Specially Serviced Mortgage
Loans. The Special Servicer shall comply with the terms of each such
Sub-Servicing Agreement to the extent the terms thereof are not inconsistent
with the terms of this Agreement and the Special Servicer's obligations
hereunder.

            (g) The Master Servicer shall cause any Sub-Servicer engaged by the
Master Servicer (or by any Sub-Servicer) for the benefit of the Depositor and
the Trustee to comply with the provisions of this Section 3.22 and with Section
8.17 of this Agreement to the same extent as if such Sub-Servicer were the
Master Servicer, and to provide the information required with respect to such
Sub-Servicer under this Section 3.22. The Master Servicer shall be responsible
for obtaining from each such Sub-Servicer and delivering to the Trustee and any
applicable Persons any servicer compliance statement required to be delivered by
such Sub-Servicer under Section 3.13 and any assessment of compliance report and
related accountant's attestation required to be delivered by such Sub-Servicer
under Section 3.14, in each case, as and when required to be delivered.

            (h) Each of the Master Servicer, the Special Servicer, the
Sub-Servicer and the Trustee (each of the Master Servicer, the Special Servicer
and the Trustee and each Sub-Servicer, for purposes of this paragraph and the
succeeding paragraph, a "Servicer") is permitted to utilize one or more
Subcontractors to perform certain of its obligations hereunder. Such Servicer
shall promptly upon request provide to the Depositor and the Trustee a written
description (in form and substance satisfactory to the Depositor) of the role
and function of each Subcontractor utilized by such Servicer, specifying (i) the
identity of each Subcontractor, (ii) which (if any) of such Subcontractors are
Servicing Participants, and (iii) which elements of the Servicing Criteria will
be addressed in assessments of compliance provided by each Subcontractor
identified pursuant to clause (ii) of this paragraph. As a condition to the
utilization by such Servicer of any Subcontractor determined to be a Servicing
Participant, such Servicer shall cause any such Subcontractor used by such
Servicer for the benefit of the Depositor and the Trustee to comply with the
provisions of Sections 3.13, 3.14 and 8.17 of this Agreement to the same extent
as if such Subcontractor were such Servicer. Such Servicer shall be responsible
for obtaining from each such Subcontractor and delivering to the applicable
Persons any assessment of compliance report and related accountant's attestation
required to be delivered by such Subcontractor under Section 3.13, Section 3.14
and Section 3.17, in each case, as and when required to be delivered.

            (i) Notwithstanding the foregoing, if a Servicer engages a
Subcontractor in connection with the performance of any of its duties under this
Agreement, such Servicer shall be responsible for determining whether such
Subcontractor is a "servicer" within the meaning of Item 1101 of Regulation AB
and whether any such affiliate or third-party vendor meets the criteria in Item
1108(a)(2)(i) or (ii) or (iii) of Regulation AB. If a Servicer determines,
pursuant to the preceding sentence, that such Subcontractor is a "servicer"
within the meaning of Item 1101 of Regulation AB and meets the criteria in Item
1108(a)(2)(i) or (ii) or (iii) of Regulation AB, then such Subcontractor shall
be deemed to be a Sub-Servicer for purposes of this Agreement, the engagement of
such Sub-Servicer shall not be effective unless and until notice is given to the
Depositor and the Trustee of any such Sub-Servicer and Sub-Servicing Agreement.
No Sub-Servicing Agreement shall be effective until 30 days after such written
notice is received by the Depositor and the Trustee. Such notice shall contain
all information reasonably necessary to enable the Trustee to accurately and
timely report the event pursuant to Section 8.17.

            Section 3.23. Representations and Warranties of Master Servicer and
Special Servicer.

            (a) Wachovia Bank, National Association, in its capacity as Master
      Servicer, hereby represents and warrants to the Trustee, for its own
      benefit and the benefit of the Certificateholders and the Companion
      Holders, and to the Depositor and the Special Servicer, as of the Closing
      Date, that:

            (i) The Master Servicer is a national banking association, duly
      organized under the laws of the United States of America, and the Master
      Servicer is in compliance with the laws of each State in which any
      Mortgaged Property is located to the extent necessary to perform its
      obligations under this Agreement.

            (ii) The execution and delivery of this Agreement by the Master
      Servicer, and the performance and compliance with the terms of this
      Agreement by the Master Servicer, will not violate the Master Servicer's
      articles of association or by-laws or constitute a default (or an event
      which, with notice or lapse of time, or both, would constitute a default)
      under, or result in the breach of, any material agreement or other
      material instrument to which it is a party or by which it is bound.

            (iii) The Master Servicer has the full power and authority to enter
      into and consummate all transactions contemplated by this Agreement, has
      duly authorized the execution, delivery and performance of this Agreement,
      and has duly executed and delivered this Agreement.

            (iv) This Agreement, assuming due authorization, execution and
      delivery by each of the other parties hereto, constitutes a valid, legal
      and binding obligation of the Master Servicer, enforceable against the
      Master Servicer in accordance with the terms hereof, subject to (A)
      applicable receivership, insolvency, reorganization, moratorium and other
      laws affecting the enforcement of creditors' rights generally and the
      rights of creditors of banks, and (B) general principles of equity,
      regardless of whether such enforcement is considered in a proceeding in
      equity or at law.

            (v) The Master Servicer is not in violation of, and its execution
      and delivery of this Agreement and its performance and compliance with the
      terms of this Agreement will not constitute a violation of, any law, any
      order or decree of any court or arbiter, or any order, regulation or
      demand of any federal, state or local governmental or regulatory
      authority, which violation, in the Master Servicer's good faith and
      reasonable judgment, is likely to affect materially and adversely either
      the ability of the Master Servicer to perform its obligations under this
      Agreement or the financial condition of the Master Servicer.

            (vi) No litigation is pending or, to the best of the Master
      Servicer's knowledge, threatened, against the Master Servicer that would
      prohibit the Master Servicer from entering into this Agreement or, in the
      Master Servicer's good faith and reasonable judgment, is likely to
      materially and adversely affect either the ability of the Master Servicer
      to perform its obligations under this Agreement or the financial condition
      of the Master Servicer, calculated on a consolidated basis.

            (vii) Each officer, director, employee, consultant or advisor of the
      Master Servicer with responsibilities concerning the servicing and
      administration of Mortgage Loans is covered by errors and omissions
      insurance in the amounts and with the coverage as, and to the extent,
      required by Section 3.07(c).

            (viii) The net worth of the Master Servicer (or, in the case of the
      initial Master Servicer, the consolidated net worth thereof and of its
      direct or indirect parent), determined in accordance with generally
      accepted accounting principles, is not less than $15,000,000.

            (ix) Any consent, approval, authorization or order of any court or
      governmental agency or body required for the execution, delivery and
      performance by the Master Servicer of or compliance by the Master Servicer
      with this Agreement or the consummation of the transactions contemplated
      by this Agreement has been obtained and is effective.

            (x) The Master Servicer possesses the fidelity bond required
      pursuant to Section 3.07(c) of this Agreement.

            (b) LNR Partners, Inc., in its capacity as the Special Servicer,
      hereby represents and warrants to the Trustee, for its own benefit and the
      benefit of the Certificateholders and the Companion Holders, and to the
      Depositor and the Master Servicer, as of the Closing Date, that:

            (i) The Special Servicer is a corporation duly organized under the
      laws of the State of Florida, validly existing and the Special Servicer is
      in compliance with the laws of each State in which any Mortgaged Property
      is located to the extent necessary to perform its obligations under this
      Agreement.

            (ii) The execution and delivery of this Agreement by the Special
      Servicer, and the performance and compliance with the terms of this
      Agreement by the Special Servicer, will not violate the Special Servicer's
      organizational documents or constitute a default (or an event which, with
      notice or lapse of time, or both, would constitute a default) under, or
      result in the breach of, any material agreement or other material
      instrument by which it is bound.

            (iii) The Special Servicer has the full power and authority to enter
      into and consummate all transactions contemplated by this Agreement, has
      duly authorized the execution, delivery and performance of this Agreement,
      and has duly executed and delivered this Agreement.

            (iv) This Agreement, assuming due authorization, execution and
      delivery by each of the other parties hereto, constitutes a valid, legal
      and binding obligation of the Special Servicer, enforceable against the
      Special Servicer in accordance with the terms hereof, subject to (A)
      applicable bankruptcy, insolvency, reorganization, moratorium and other
      laws affecting the enforcement of creditors' rights generally, and (B)
      general principles of equity, regardless of whether such enforcement is
      considered in a proceeding in equity or at law.

            (v) The Special Servicer is not in violation of, and its execution
      and delivery of this Agreement and its performance and compliance with the
      terms of this Agreement will not constitute a violation of, any law, any
      order or decree of any court or arbiter, or any order, regulation or
      demand of any federal, state or local governmental or regulatory
      authority, which violation, in the Special Servicer's good faith and
      reasonable judgment, is likely to affect materially and adversely either
      the ability of the Special Servicer or to perform its obligations under
      this Agreement or the financial condition of the Special Servicer.

            (vi) No litigation is pending or, to the best of the Special
      Servicer's knowledge, threatened, against the Special Servicer the outcome
      of which in the Special Servicer's good faith and reasonable judgment
      could reasonably be expected to prohibit the Special Servicer from
      entering into this Agreement or, in the Special Servicer's good faith and
      reasonable judgment, is likely to materially and adversely affect either
      the ability of the Special Servicer to perform its obligations under this
      Agreement or the financial condition of the Special Servicer.

            (vii) Each officer, director and employee of the Special Servicer
      and each consultant or advisor of the Special Servicer with
      responsibilities concerning the servicing and administration of Mortgage
      Loans is covered by errors and omissions insurance in the amounts and with
      the coverage required by Section 3.07(c).

            (viii) Any consent, approval, authorization or order of any court or
      governmental agency or body required for the execution, delivery and
      performance by the Special Servicer of or compliance by the Special
      Servicer with this Agreement or the consummation of the transactions
      contemplated by this Agreement has been obtained and is effective.

            (ix) The Special Servicer possesses all insurance required pursuant
      to Section 3.07(c) of this Agreement.

            (c) The representations and warranties of the Master Servicer and
      the Special Servicer, set forth in Section 3.23(a) (with respect to the
      Master Servicer) and Section 3.23(b) (with respect to the Special
      Servicer) respectively, shall survive the execution and delivery of this
      Agreement and shall inure to the benefit of the Persons for whose benefit
      they were made for so long as the Trust Fund remains in existence. Upon
      discovery by any party hereto of any breach of any of the foregoing
      representations and warranties, the party discovering such breach shall
      give prompt written notice to the other parties hereto.

            Section 3.24. Sub-Servicing Agreement Representation and Warranty.

            The Master Servicer, in such capacity, hereby represents and
warrants to the Trustee, for its own benefit and the benefit of the
Certificateholders, and to the Depositor and the Special Servicer, as of the
Closing Date, that each Sub-Servicing Agreement satisfies the requirements for
such Sub-Servicing Agreements set forth in Sections 3.22(a) and the second
paragraph of 3.22(d) in all material respects.

            Section 3.25. Designation of Controlling Class Representative.

            (a) The Holders (or, in the case of Book-Entry Certificates, the
Certificate Owners) of Certificates representing more than 50% of the Class
Principal Balance of the Controlling Class shall be entitled in accordance with
this Section 3.25 to select a representative having the rights and powers
specified in this Agreement (including those specified in Section 6.11) or to
replace an existing Controlling Class Representative. The advisor referred to
above is referred to herein as the "Controlling Class Representative". Upon (i)
the receipt by the Trustee of written requests for the selection of a
Controlling Class Representative from the Holders (or, in the case of Book-Entry
Certificates, the Certificate Owners) of Certificates representing more than 50%
of the Class Principal Balance of the Controlling Class, (ii) the resignation or
removal of the Person acting as Controlling Class Representative or (iii) a
determination by the Trustee that the Controlling Class has changed, the Trustee
shall promptly notify the Depositor and the Holders (and, in the case of
Book-Entry Certificates, to the extent actually known to a Responsible Officer
of the Trustee or identified thereto by the Depository or the Depository
Participants, the Certificate Owners) of the Controlling Class that they may
select a Controlling Class Representative. Such notice shall set forth the
process for selecting a Controlling Class Representative, which shall be the
designation of the Controlling Class Representative by the Holders (or
Certificate Owners) of Certificates representing more than 50% of the Class
Principal Balance of the Controlling Class by a writing delivered to the
Trustee. No appointment of any Person as a Controlling Class Representative
shall be effective until such Person provides the Trustee and the Master
Servicer with written confirmation of its acceptance of such appointment, an
address and telecopy number for the delivery of notices and other correspondence
and a list of officers or employees of such Person with whom the parties to this
Agreement may deal (including their names, titles, work addresses and telecopy
numbers). Hyperion Brookfield Asset Management Inc., or an affiliate, shall be
the initial Controlling Class Representative with respect to the Mortgage Loans
without need for further designation or notice.

            Notwithstanding anything in this Section 3.25(a), the holders of the
Companion Loans have certain consent and direction rights pursuant to the terms
of the related Intercreditor Agreements as incorporated in this Agreement, and
this Section shall not supersede any such rights, but nothing herein shall be
construed to limit the right of the Controlling Class Representative to consult
on a non-binding basis with the Special Servicer about any applicable Mortgage
Loan.

            (b) Within 10 Business Days (or as soon thereafter as practicable if
the Controlling Class consists of Book-Entry Certificates) of receiving a
request therefor from the Master Servicer or Special Servicer, the Trustee
shall, to the extent in its possession, deliver to the requesting party the
identity of the Controlling Class Representative and a list of each Holder (or,
in the case of Book-Entry Certificates, to the extent actually known to a
Responsible Officer of the Trustee or identified thereto by the Depository or
the Depository Participants, each Certificate Owner) of the Controlling Class,
including, in each case, names and addresses. With respect to such information,
the Trustee shall be entitled to conclusively rely on information provided to it
by the Depository, and the Master Servicer and the Special Servicer shall be
entitled to rely on such information provided by the Trustee with respect to any
obligation or right hereunder that the Master Servicer and the Special Servicer
may have to deliver information or otherwise communicate with the Controlling
Class Representative or any of the Holders (or, if applicable, Certificate
Owners) of the Controlling Class. In addition to the foregoing, within two (2)
Business Days of the selection, resignation or removal of a Controlling Class
Representative, the Trustee shall notify the other parties to this Agreement of
such event. The expenses incurred by the Trustee in connection with obtaining
information from the Depository or Depository Participants with respect to any
Book-Entry Certificate shall be expenses of the Trust Fund payable out of the
Certificate Account pursuant to Section 3.05(a).

            (c) A Controlling Class Representative may at any time resign as
such by giving written notice to the Trustee and to each Holder (or, in the case
of Book-Entry Certificates, Certificate Owner) of the Controlling Class. The
Holders (or, in the case of Book-Entry Certificates, the Certificate Owners) of
Certificates representing more than 50% of the Class Principal Balance of the
Controlling Class shall be entitled to remove any existing Controlling Class
Representative by giving written notice to the Trustee and to such existing
Controlling Class Representative.

            (d) Once a Controlling Class Representative has been selected
pursuant to this Section 3.25, each of the parties to this Agreement and each
Certificateholder (or Certificate Owner, if applicable) shall be entitled to
rely on such selection unless a majority of the Holders (or, in the case of
Book-Entry Certificates, the Certificate Owners) of the Controlling Class, by
aggregate Certificate Principal Balance, or such Controlling Class
Representative, as applicable, shall have notified the Trustee and each other
Holder (or, in the case of Book-Entry Certificates, Certificate Owner) of the
Controlling Class, in writing, of the resignation or removal of such Controlling
Class Representative.

            (e) Any and all expenses of the Controlling Class Representative
shall be borne by the Holders (or, if applicable, the Certificate Owners) of
Certificates of the Controlling Class, pro rata according to their respective
Percentage Interests in such Class, and not by the Trust Fund. Notwithstanding
the foregoing, if a claim is made against the Controlling Class Representative
by a Mortgagor with respect to this Agreement or any particular Mortgage Loan,
the Controlling Class Representative shall immediately notify the Trustee, the
Master Servicer and the Special Servicer, whereupon (if the Special Servicer or
the Trust Fund are also named parties to the same action and, in the reasonable
judgment of the Special Servicer, (i) the Controlling Class Representative had
acted in good faith, without negligence or willful misfeasance with regard to
the particular matter, and (ii) there is no potential for the Special Servicer
or the Trust Fund to be an adverse party in such action as regards the
Controlling Class Representative) the Special Servicer on behalf of the Trust
Fund shall, subject to Section 6.03, assume the defense of any such claim
against the Controlling Class Representative. This provision shall survive the
termination of this Agreement and the termination or resignation of the
Controlling Class Representative.

            (f) All rights to, and requirements for, information or notice
(including, but not limited to the delivery of information, notice or access to
information) provided to the Controlling Class Representative or
Certificateholders, in general contained in this Agreement shall also apply to
each Companion Holder (provided such Companion Holder is not a Mortgagor or an
affiliate of a Mortgagor) with respect to information relating to the related
Co-Lender Loan (but, in the case of information relating to a Co-Lender Loan,
excluding the fair value determination thereof).

            Section 3.26. Companion Paying Agent.

            (a) The Master Servicer shall be the initial Companion Paying Agent
hereunder. The Companion Paying Agent undertakes to perform such duties and only
such duties as are specifically set forth herein. The Companion Paying Agent
shall promptly make available to the Companion Holders (other than the holders
of the Companion Loan relating to the 2006-C28 Serviced Mortgage Loan) all
reports available to the Companion Paying Agent that the Trustee has made
available to Certificateholders under this Agreement.

            (b) No provision of this Agreement shall be construed to relieve the
Companion Paying Agent from liability for its own negligent failure to act, bad
faith or its own willful misfeasance; provided, however, the duties and
obligations of the Companion Paying Agent shall be determined solely by the
express provisions of this Agreement, the Companion Paying Agent shall not be
liable except for the performance of such duties and obligations, no implied
covenants or obligations shall be read into this Agreement against the Companion
Paying Agent and, in the absence of bad faith on the part of the Companion
Paying Agent, the Companion Paying Agent may conclusively rely, as to the truth
and correctness of the statements or conclusions expressed therein, upon any
resolutions, certificates, statements, opinions, reports, documents, orders or
other instrument furnished to the Companion Paying Agent by any Person and which
on their face do not contradict the requirements of this Agreement.

            (c) If the Companion Paying Agent is also the Master Servicer, upon
the resignation or removal of the Master Servicer pursuant to this Agreement,
the Companion Paying Agent shall be deemed simultaneously to resign or be
removed.

            (d) This Section shall survive the termination of this Agreement or
the resignation or removal of the Companion Paying Agent, as regards rights
accrued prior to such resignation or removal.

            Section 3.27. Companion Register.

            The Companion Paying Agent shall maintain a register (the "Companion
Register") on which it will record the names and addresses of, and wire transfer
instructions for, the Companion Holders (other than the holders of the Companion
Loan relating to the 2006-C28 Serviced Mortgage Loan) from time to time, to the
extent such information is provided in writing to it by the Companion Holder.
Each initial Companion Holder, along with its name, address, wiring instructions
and tax identification number, is listed on Exhibit L hereto. The Companion
Holders shall inform the Companion Paying Agent and the Master Servicer of the
name, address, wiring instructions and taxpayer identification number of any
subsequent Companion Holders upon any transfer of a Companion Loan. Upon the
sale of a Companion Loan or portion thereof, the transferring Companion Holder
shall inform the Companion Paying Agent and the Master Servicer in writing that
such transfer has taken place and provide the Companion Paying Agent and the
Master Servicer with the name, address, wiring instructions and tax
identification number of the transferee. In the event the Companion Holder
transfers a Companion Loan without notice to the Companion Paying Agent, the
Companion Paying Agent shall have no liability for any misdirected payment in
the related Companion Loan and shall have no obligation to recover and redirect
such payment.

            The Companion Paying Agent shall promptly provide the name and
address of the Companion Holders to any party hereto or any successor Companion
Holders upon written request and any such Person may, without further
investigation, conclusively rely upon such information. The Companion Paying
Agent shall have no liability to any Person for the provision of any such names
and addresses.

            Section 3.28. Future Debt Secured by Interests in Related
Mortgagors.

            In the event the Mortgage Loan documents permit ownership interests
in the related Mortgagor to be pledged as security for mezzanine debt in the
future, in addition to any consents required hereunder, the Master Servicer
shall require, to the extent not inconsistent with the Mortgage Loan documents,
the execution in favor of the Trust Fund of a subordination and standstill
agreement or an intercreditor agreement, as applicable, in form and substance
that would be satisfactory to a commercially reasonable and prudent mortgage
lender.

            Section 3.29. Certain Matters Relating to the Future Securitization
of the Pari Passu Companion Loans.

            (a) Each of the Trustee, the Master Servicer and the Special
Servicer shall, and the Master Servicer and the Special Servicer shall use
reasonable efforts to cause any Sub-Servicer appointed by such party with
respect to each Pari Passu Mortgage Loan (other than the Newport Bluffs Loan)
to, upon request or notice from such Mortgage Loan Seller, cooperate with any
Mortgage Loan Seller that is selling the related Pari Passu Companion Loan into
a securitization that is required to comply with Regulation AB (a "Regulation AB
Companion Loan Securitization") and, to the extent necessary in order to comply
with Regulation AB, provide to the Mortgage Loan Seller information about itself
that such Mortgage Loan Seller reasonably requires to meet the requirements of
Items 1117 and 1119 and paragraphs (b), (c)(3), (c)(4) and (c)(5) of Item 1108
of Regulation AB and shall cooperate with such Mortgage Loan Seller to provide
such other information as may be necessary to comply with the requirements of
Regulation AB. Each of the Trustee, the Master Servicer and the Special Servicer
understands that such information provided by the Trustee (where such
information pertains to Wells Fargo Bank, N.A. individually and not to any
specific aspect of the Trustee's duties or obligations under this Agreement),
the Master Servicer (where such information pertains to Wachovia Bank, National
Association individually and not to any specific aspect of the Master Servicer's
duties or obligations under this Agreement) and the Special Servicer (where such
information pertains to LNR Partners, Inc. individually and not to any specific
aspect of the Special Servicer's duties or obligations under this Agreement), as
applicable, to such Mortgage Loan Seller as required by this clause (a) may be
included in the offering material related to a Regulation AB Companion Loan
Securitization and agrees to indemnify and hold the related depositor and
underwriter(s) of the Regulation AB Loan Securitization harmless for any costs,
liabilities, fees and expenses incurred by the Mortgage Loan Seller as a result
of any material misstatements or omissions or any alleged material misstatements
or alleged omissions in any such offering material to the extent that such
material misstatement or omission was made in reliance upon any such information
provided by such person. Any such indemnification shall be in substantially the
same form as provided by such party in this transaction. Notwithstanding the
foregoing, to the extent that the information provided by the Trustee, the
Master Servicer or the Special Servicer, as applicable, for inclusion in the
offering materials related to such Regulation AB Companion Loan Securitization
is substantially and materially similar to the information provided by such
party with respect to the offering materials related to this transaction,
subject to any required changes due to any amendments to Regulation AB or any
changes in the interpretation of Regulation AB, such party shall be deemed to be
in compliance with this Section 3.29(a). Each of the Trustee, the Master
Servicer and the Special Servicer shall provide an opinion of counsel (which
opinion of counsel shall be an expense of the trust fund created in connection
with the Regulation AB Companion Loan Securitization) in substantially the same
form as provided in this transaction which provides that any information
provided by such party pursuant to this Section 3.29(a) with respect to such
Regulation AB Companion Loan Securitization complies with Items 1117 and 1119
(with respect to Item 1119, only as it relates to any Sub-Servicer,
subcontractor or agent retained by it) and paragraphs (b), (c)(3), (c)(4) (but
only with regard to second sentence thereof) and (c)(5) of Item 1108 of
Regulation AB and that the offering material related to such Regulation AB
Companion Loan Securitization contains all information required of such party to
meet the requirements of Items 1117 and 1119 (with respect to Item 1119, only as
it relates to any Sub-Servicer, subcontractor or agent retained by it) and
paragraphs (b), (c)(3), (c)(4) (but only with regard to second sentence thereof)
and (c)(5) of Item 1108 of Regulation AB to the extent that any such party would
be required pursuant to Regulation AB to provide such information.

            (b) Each of the Trustee, the Master Servicer and the Special
Servicer shall, and the Master Servicer and the Special Servicer shall use
reasonable efforts to cause any Sub-Servicer, if any, appointed with respect to
each Pari Passu Mortgage Loan (other than the Newport Bluffs Loan) to, upon
request or notice from such parties (which request or notice shall be given each
time a filing is required), cooperate with the trustee, master servicer or
special servicer for any Regulation AB Companion Loan Securitization in
preparing each Form 10-D required to be filed by such Regulation AB Companion
Loan Securitization (until January 30 of the first year in which the trustee for
such Regulation AB Companion Loan Securitization files a Form 15 Suspension
Notice with respect to the related trust fund) and shall provide to such trustee
or master servicer within the time period set forth in the pooling and servicing
agreement for such Regulation AB Companion Loan Securitization such information
relating to the related Pari Passu Companion Loan (other than the Newport Bluffs
Pari Passu Companion Loan and the Newport Bluffs Future Pari Passu Companion
Loan, if advanced) as may be necessary for the servicer and trustee of the
Regulation AB Companion Loan Securitization to comply with the reporting
requirements of Regulation AB (provided such time period is not earlier than the
time period set forth in this Agreement); provided, however, any parties to any
Regulation AB Companion Loan Securitization shall consult with the Trustee, the
Master Servicer and the Special Servicer (and the Master Servicer shall consult
with any Sub-Servicer appointed with respect to the Pari Passu Companion Loan),
and the Trustee, the Master Servicer and the Special Servicer shall cooperate
with such parties in respect of establishing the time periods for preparation of
the Form 10-D reports in the documentation for such Regulation AB Companion Loan
Securitization. Notwithstanding the foregoing, to the extent the Trustee, the
Master Servicer or the Special Servicer complies in all material respects with
the timing, reporting and attestation requirements in Section 8.17 of this
Agreement with respect to the comparable timing, reporting and attestation
requirements contemplated in this Section 3.29(b) with respect to such
Regulation AB Companion Loan Securitization, such party shall be deemed to be in
compliance with the provisions of this Section 3.29(b).

            (c) Each of the Trustee, the Master Servicer and the Special
Servicer shall, and the Master Servicer and the Special Servicer shall use
reasonable efforts to cause any Sub-Servicer, if any, appointed with respect to
each Pari Passu Mortgage Loan (other than the Newport Bluffs Loan) to, upon
request from the trustee under the Regulation AB Companion Loan Securitization
(which request or notice shall be given each time a filing is required), provide
the trustee under a Regulation AB Companion Loan Securitization (until January
30 of the first year in which the trustee for such Regulation AB Companion Loan
Securitization files a Form 15 Suspension Notice with respect to the related
trust fund) information with respect to any event that is required to be
disclosed under Form 8-K with respect to the Pari Passu Companion Loan (other
than the Newport Bluffs Pari Passu Companion Loan and the Newport Bluffs Future
Pari Passu Companion Loan, if advanced) within two Business Days after the
occurrence of such event of which it has knowledge. Notwithstanding the
foregoing, to the extent the Trustee, the Master Servicer or the Special
Servicer complies in all material respects with the timing, reporting and
attestation requirements in Section 8.17 of this Agreement with respect to the
comparable timing, reporting and attestation requirements contemplated in this
Section 3.29(c) with respect to such Regulation AB Companion Loan
Securitization, such party shall be deemed to be in compliance with the
provisions of this Section 3.29(c).

            (d) On or before March 5 (with a 7 Business Day notice and cure
period as provided in Section 7.01(a)(iv) herein) of each year during which a
Regulation AB Companion Loan Securitization is required to file an annual report
on Form 10-K (and not in respect of any year in which such Regulation AB
Companion Loan Securitization is not required to file an annual report on Form
10-K because a Form 15 Suspension Notice with respect to the related trust fund
was filed), each of the Trustee, the Master Servicer and the Special Servicer
shall, and the Master Servicer and the Special Servicer shall use reasonable
efforts to cause any Sub-Servicer appointed with respect to each Pari Passu
Mortgage Loan (other than the Newport Bluffs Loan) to, upon request from the
trustee under the Regulation AB Companion Loan Securitization (which request or
notice shall be given each time a filing is required), provide, with respect to
itself, to the trustee under such Regulation AB Companion Loan Securitization,
to the extent required pursuant to Item 1122 of Regulation AB, (i) a report on
an assessment of compliance with the servicing criteria to the extent required
pursuant to Item 1122(a) of Regulation AB, (ii) a registered accounting firm's
attestation report on such Person's assessment of compliance with the applicable
servicing criteria to the extent required pursuant to Item 1122(b) of Regulation
AB and (iii) such other information as may be required pursuant to Item 1122(c)
of Regulation AB. Notwithstanding the foregoing, to the extent the Trustee, the
Master Servicer or the Special Servicer complies in all material respects with
the timing, reporting and attestation requirements in Section 8.17 of this
Agreement with respect to the comparable timing, reporting and attestation
requirements contemplated in this Section 3.29(d) with respect to such
Regulation AB Companion Loan Securitization, such party shall be deemed to be in
compliance with the provisions of this Section 3.29(d).

            (e) On or before March 5 (with a 7 Business Day notice and cure
period as provided in Section 7.01(a)(iv) herein) of each year during which a
Regulation AB Companion Loan Securitization is required to file an annual report
on Form 10-K (and not in respect of any year in which such Regulation AB
Companion Loan Securitization is not required to file an annual report on Form
10-K because a Form 15 Suspension Notice with respect to the related trust fund
was filed), each of the Trustee, the Master Servicer and the Special Servicer
shall, and the Master Servicer shall use reasonable efforts to cause the Primary
Servicer, if applicable, and any Sub-Servicer appointed with respect to each
Pari Passu Mortgage Loan (other than the Newport Bluffs Loan) to, to the extent
required pursuant to Item 1123 of Regulation AB, deliver, with respect to
itself, to the trustee, upon request from such trustee (which request or notice
shall be given each time a filing is required), under such Regulation AB
Companion Loan Securitization a servicer compliance statement signed by an
authorized officer of such Person that satisfies the requirements of Item 1123
of Regulation AB. Notwithstanding the foregoing, to the extent the Trustee, the
Master Servicer or the Special Servicer complies in all material respects with
the timing, reporting and attestation requirements in Section 8.17 of this
Agreement with respect to the comparable timing, reporting and attestation
requirements contemplated in this Section 3.29(e) with respect to such
Regulation AB Companion Loan Securitization, such party shall be deemed to be in
compliance with the provisions of this Section 3.29(e).

            (f) Each of the Trustee, the Master Servicer and the Special
Servicer shall use reasonable efforts to cause a Sub-Servicer appointed by such
party to agree, (severally but not jointly) to indemnify (such indemnity limited
to each such parties respective failure described below) and hold the related
depositor or underwriter(s) under a Regulation AB Companion Loan Securitization
harmless for any costs, liabilities, fees and expenses incurred by such Mortgage
Loan Seller, depositor, trustee or master servicer as a result of any failure by
the Trustee, the Master Servicer and the Special Servicer, as applicable, to
comply with the reporting requirements to the extent applicable set forth under
Sections 3.29(b), (c), (d) and (e) above. Any such indemnification by a
Sub-Servicer shall be in substantially the same form as provided by the Trustee,
the Master Servicer or the Special Servicer, as applicable, in this transaction.

            Each Sub-Servicing Agreement related to each Pari Passu Mortgage
Loan (other than the Newport Bluffs Loan) shall contain a provision requiring
the related Sub-Servicer to provide to the Master Servicer or Special Servicer,
as applicable, information, reports and certificates with respect to itself
comparable to any information, reports or certificates required to be provided
by the Master Servicer or Special Servicer pursuant to this Section 3.29, even
if such Sub-Servicer is not otherwise required to provide such information,
reports or certificates to any Person in order to comply with Regulation AB.
Such information, reports or certificates shall be provided to the Master
Servicer or Special Servicer, as applicable, no later than two Business Days
prior to the date on which the Master Servicer or Special Servicer, as
applicable, is required to deliver its comparable information, reports or
certificates pursuant to this Section 3.29.

            Section 3.30. Litigation Control.

            The Special Servicer shall with respect to Specially Serviced
Mortgage Loans and at the direction of the Controlling Class Representative any
other Mortgage Loan, (1) direct, manage, prosecute and/or defend any action
brought by a Mortgagor against the Trust Fund and/or the Special Servicer and
(2) represent the interests of the Trust Fund in any litigation relating to the
rights and obligations of the Mortgagor or the Trust Fund, or the enforcement of
the obligations of a Mortgagor, under the related Mortgage Loan documents
("Trust-Related Litigation").

            To the extent the Master Servicer is named in Trust-Related
Litigation, and the Trust Fund or Special Servicer is not named, in order to
effectuate the role of the Special Servicer as contemplated by the immediately
preceding paragraph, the Master Servicer shall (1) notify the Special Servicer
of such Trust-Related Litigation within ten (10) days of the Master Servicer
receiving service of such Trust-Related Litigation; (2) provide monthly status
reports to the Special Servicer, regarding such Trust-Related Litigation; (3)
seek to have the Trust Fund replace the Master Servicer as the appropriate party
to the lawsuit; and (4) so long as the Master Servicer remains a party to the
lawsuit, consult with and act at the direction of the Special Servicer with
respect to decisions and resolutions related to the interests of the Trust Fund
in such Trust-Related Litigation, including but not limited to the selection of
counsel, provided however, if there are claims against the Master Servicer and
the Master Servicer has not determined that separate counsel is required for
such claims, such counsel shall be reasonably acceptable to the Master Servicer.

            Notwithstanding the right of the Special Servicer to represent the
interests of the Trust Fund in Trust-Related Litigation, and subject to the
rights of the Special Servicer to direct the Master Servicer's actions in this
Section 3.30 below, the Master Servicer shall retain the right to make
determinations relating to claims against the Master Servicer, including but not
limited to the right to engage separate counsel in the Master Servicer's
reasonable discretion, the cost of which shall be subject to indemnification
pursuant to this Section 3.30.

            Further, nothing in this section shall require the Master Servicer
to take or fail to take any action which, in the Master Servicer's good faith
and reasonable judgment, may (1) result in an Adverse REMIC Event or Adverse
Grantor Trust Event or (2) subject the Master Servicer to liability or
materially expand the scope of the Master Servicer's obligations under this
Agreement.

            Notwithstanding the Master Servicer's right to make determinations
relating to claims against the Master Servicer, the Special Servicer shall have
the right at any time to (1) direct the Master Servicer to settle any claims
brought against the Trust Fund, including claims asserted against the Master
Servicer (whether or not the Trust Fund or the Special Servicer is named in any
such claims or Trust-Related Litigation) and (2) otherwise reasonably direct the
actions of the Master Servicer relating to claims against the Master Servicer
(whether or not the Trust Fund or the Special Servicer is named in any such
claims or Trust-Related Litigation); provided in either case that (A) such
settlement or other direction does not require any admission, or is not likely
to result in a finding of liability or wrongdoing on the part of the Master
Servicer, (B) the cost of such settlement or any resulting judgment is and shall
be paid by the Trust Fund, (C) the Master Servicer is and shall be indemnified
pursuant to Section 6.03 hereof for all costs and expenses of the Master
Servicer incurred in defending and settling the Trust-Related Litigation and for
any judgment, (D) any such action taken by the Master Servicer at the direction
of the Special Servicer be deemed (as to the Master Servicer) to be in
compliance with the Servicing Standard and (E) the Special Servicer provides the
Master Servicer with assurance reasonably satisfactory to the Master Servicer as
to the items in clauses (A), (B) and (C).

            In the event both the Master Servicer and the Special Servicer or
Trust Fund are named in litigation, the Master Servicer and the Special Servicer
shall cooperate with each other to afford the Master Servicer and the Special
Servicer the rights afforded to such party in this Section 3.30.

            Notwithstanding anything to the contrary herein, if the Master
Servicer controls certain Trust-Related Litigation on behalf of the Trust Fund
with respect to Performing Serviced Mortgage Loans in accordance with this
Section 3.30, the Special Servicer shall retain the right to make determinations
relating to claims against the Special Servicer, including but not limited to
the right to engage separate counsel in the Special Servicer's reasonable
discretion, the cost of which shall be subject to indemnification pursuant to
Section 6.03. Nothing in this Section 3.30 shall be intended to limit the rights
of the Controlling Class Representative under any other section of this
Agreement.

            The Special Servicer or the Master Servicer, as applicable, will
have the right to direct, manage, prosecute and/or defend any and all litigation
and/or claims relating to (a) the enforcement of the obligations of a Mortgagor
under the related Mortgage Loan documents and (b) any claim or action brought by
a Mortgagor against the Trust Fund; provided that (i) in the event that any
action, suit, litigation or proceeding names the Trustee in its individual
capacity, or in the event that any judgment is rendered against the Trustee in
its individual capacity, the Trustee, upon prior written notice to the Special
Servicer or the Master Servicer, as applicable, may retain counsel and appear in
any such proceeding on its own behalf in order to protect and represent its
interests (but not to otherwise direct, manage or prosecute such litigation or
claim), (ii) in the event of any action, suit, litigation or proceeding, other
than an action, suit, litigation or proceeding relating to the enforcement of
the obligations of a Mortgagor under the related Mortgage Loan documents or
otherwise relating to a Mortgage Loan or Mortgaged Property, neither the Master
Servicer nor the Special Servicer shall, without the prior written consent of
the Trustee, (A) initiate any action, suit, litigation or proceeding in the name
of the Trustee, whether in such capacity or individually, (B) engage counsel to
represent the Trustee, or (C) prepare, execute or deliver any government
filings, forms, permits, registrations or other documents or take any other
similar action with the intent to cause, and that actually causes, the Trustee
to be registered to do business in any state (provided that none of the Master
Servicer, the Special Servicer or the Trustee shall be responsible for any delay
due to the unwillingness of the Trustee to grant such consent), and (iii) in the
event that any court finds that the Trustee is a necessary party in respect of
any action, suit, litigation or proceeding relating to or arising from this
Agreement or any Mortgage Loan, the Trustee shall have the right to retain
counsel and appear in any such proceeding on its own behalf in order to protect
and represent its interest (but not to otherwise direct, manage or prosecute
such litigation or claim).

                                   ARTICLE IV

                       DISTRIBUTIONS TO CERTIFICATEHOLDERS

            Section 4.01. Distributions.

            (a) On each Distribution Date the Paying Agent shall (except as
      otherwise provided in Section 9.01), based on information provided by the
      Master Servicer and the Special Servicer, apply amounts on deposit in the
      Distribution Account, after payment of amounts payable from the
      Distribution Account in accordance with Section 3.05(b)(ii) through (vii),
      deemed distributions from REMIC I to REMIC II pursuant to Section 4.01(h),
      for the following purposes and in the following order of priority, in each
      case to the extent of the remaining portion of the Available Distribution
      Amount:

            (i) concurrently, (i) from the Loan Group 1 Available Distribution
      Amount, to distributions of interest to the Holders of the Class A-1,
      Class A-2, Class A-3, Class A-PB and Class A-4 Certificates, up to an
      amount equal to, and pro rata as among such Classes in accordance with,
      all Distributable Certificate Interest in respect of such Class of
      Certificates for such Distribution Date and, to the extent not previously
      paid, for all prior Distribution Dates, if any, (ii) from the Loan Group 2
      Available Distribution Amount, to distributions of interest to the Holders
      of the Class A-1A Certificates, up to an amount equal to all Distributable
      Certificate Interest in respect of such Class of Certificates for such
      Distribution Date and, to the extent not previously paid, for all prior
      Distribution Dates, if any, and (iii) from the Loan Group 1 Available
      Distribution Amount and/or the Loan Group 2 Available Distribution Amount,
      to distributions of interest to the Holders of the Class IO Certificates,
      up to an amount equal to all Distributable Certificate Interest in respect
      of such Class of Certificates for such Distribution Date and, to the
      extent not previously paid, for all prior Distribution Dates, if any;
      provided, however, if the Loan Group 1 Available Distribution Amount
      and/or the Loan Group 2 Available Distribution Amount is insufficient to
      pay in full the total amount of Distributable Certificate Interest, as
      provided above, payable in respect of any Class of Senior Certificates on
      such Distribution Date, then the entire Available Distribution Amount
      shall be applied to make distributions of interest to the Holders of the
      respective Classes of the Senior Certificates, up to an amount equal to,
      and pro rata as among such Classes in accordance with, all Distributable
      Certificate Interest in respect of each such Class of Certificates for
      such Distribution Date and, to the extent not previously paid, for all
      prior Distribution Dates, if any;

            (ii) to distributions of principal to the Holders of the Class A-PB
      Certificates, in an amount equal to the Loan Group 1 Principal
      Distribution Amount for such Distribution Date and, after the Class A-1A
      Certificates have been retired, the Loan Group 2 Principal Distribution
      Amount remaining after payments to the Class A-1A Certificates have been
      made on such Distribution Date, until the Certificate Balance of the Class
      A-PB Certificates is reduced to the Class A-PB Planned Principal Balance;

            (iii) after the Class Principal Balance of the Class A-PB
      Certificates has been reduced to the Class A-PB Planned Principal Balance,
      to distributions of principal to the Holders of the Class A-1
      Certificates, in an amount (not to exceed the Class Principal Balance of
      the Class A-1 Certificates outstanding immediately prior to such
      Distribution Date) equal to the entire Loan Group 1 Principal Distribution
      Amount and, after the Class Principal Balance of the Class A-1A
      Certificates has been reduced to zero, the entire Loan Group 2 Principal
      Distribution Amount for such Distribution Date remaining after making any
      distributions required pursuant to clause (x) below on such Distribution
      Date, less any portion thereof distributed in respect of the Class A-PB
      Certificates on such Distribution Date;

            (iv) after the Class Principal Balance of the Class A-PB
      Certificates has been reduced to the Class A-PB Planned Principal Balance
      and after the Class Principal Balance of the Class A-1 Certificates has
      been reduced to zero, to distributions of principal to the Holders of the
      Class A-2 Certificates, in an amount (not to exceed the Class Principal
      Balance of the Class A-2 Certificates outstanding immediately prior to
      such Distribution Date) equal to the entire Loan Group 1 Principal
      Distribution Amount and, after the Class Principal Balance of the Class
      A-1A Certificates has been reduced to zero, the entire Loan Group 2
      Principal Distribution Amount for such Distribution Date remaining after
      making any distributions required pursuant to clause (viii) below on such
      Distribution Date (in each case, net of any portion thereof distributed on
      such Distribution Date to the Holders of the Class A-PB Certificates and
      the Class A-1 Certificates pursuant to clauses (ii) and (iii) above);

            (v) after the Class Principal Balance of the Class A-PB Certificates
      has been reduced to the Class A-PB Planned Principal Balance and after the
      Class Principal Balance of each of the Class A-1 and Class A-2
      Certificates has been reduced to zero, to distributions of principal to
      the Holders of the Class A-3 Certificates, in an amount (not to exceed the
      Class Principal Balance of the Class A-3 Certificates outstanding
      immediately prior to such Distribution Date) equal to the entire Loan
      Group 1 Principal Distribution Amount and, after the Class Principal
      Balance of the Class A-1A Certificates has been reduced to zero, the
      entire Loan Group 2 Principal Distribution Amount for such Distribution
      Date remaining after making any distributions required pursuant to clause
      (viii) below on such Distribution Date (in each case, net of any portion
      thereof distributed on such Distribution Date to the Holders of the Class
      A-PB, Class A-1 and Class A-2 Certificates pursuant to clauses (ii), (iii)
      and (iv) above);

            (vi) after the Class Principal Balances of the Class A-1, Class A-2
      and Class A-3 Certificates have been reduced to zero and the Class
      Principal Balance of the Class A-PB Certificates has been reduced to the
      Planned Principal Balance, to distributions of principal to the Holders of
      the Class A-PB Certificates, in an amount (not to exceed the Class
      Principal Balance of the Class A-PB Certificates outstanding immediately
      prior to such Distribution Date) equal to the entire Loan Group 1
      Principal Distribution Amount and, after the Class Principal Balance of
      the Class A-1A Certificates has been reduced to zero, the entire Loan
      Group 2 Principal Distribution Amount for such Distribution Date remaining
      after making any distributions required pursuant to clause (viii) below on
      such Distribution Date (in each case, net of any portion thereof
      distributed on such Distribution Date to the Holders of the Class A-PB,
      Class A-1, Class A-2 and Class A-3 Certificates pursuant to clauses (ii),
      (iii), (iv) and (v) above);

            (vii) after the Class Principal Balance of the Class A-PB
      Certificates has been reduced to the Class A-PB Planned Principal Balance
      and after the Class Principal Balances of each of the Class A-1, Class A-2
      and Class A-3 Certificates have been reduced to zero, to distributions of
      principal to the Holders of the Class A-4 Certificates, in an amount (not
      to exceed the Class Principal Balance of the Class A-4 Certificates
      outstanding immediately prior to such Distribution Date) equal to the
      entire Loan Group 1 Principal Distribution Amount and, after the Class
      Principal Balance of the Class A-1A Certificates has been reduced to zero,
      the entire Loan Group 2 Principal Distribution Amount for such
      Distribution Date remaining after making any distributions required
      pursuant to clause (viii) below on such Distribution Date (in each case,
      net of any portion thereof distributed on such Distribution Date to the
      Holders of the Class A-PB, Class A-1, Class A-2 and Class A-3 Certificates
      pursuant to clauses (ii), (iii), (iv), (v) and (vi) above);

            (viii) to distributions of principal to the Holders of the Class
      A-1A Certificates, in an amount (not to exceed the Class Principal Balance
      of the Class A-1A Certificates outstanding immediately prior to such
      Distribution Date) equal to the entire Loan Group 2 Principal Distribution
      Amount and, after the Class Principal Balances of the Class A-PB, Class
      A-1, Class A-2, Class A-3 and Class A-4 Certificates have been reduced to
      zero, the entire Loan Group 1 Principal Distribution Amount for such
      Distribution Date remaining after making any distributions required
      pursuant to clauses (ii), (iii), (iv), (v), (vi) and (vii) above;

            (ix) to distributions to the Holders of the Class A-PB Certificates,
      the Class A-1 Certificates, the Class A-2 Certificates, the Class A-3
      Certificates, the Class A-4 Certificates and the Class A-1A Certificates,
      pro rata as among such Classes of Certificates, in accordance with, in an
      amount equal to, and in reimbursement of, all Realized Losses and
      Additional Trust Fund Expenses, if any, previously allocated to each such
      Class of Certificates and not previously reimbursed;

            (x) to distributions of interest to the Holders of the Class A-M
      Certificates, in an amount equal to all Distributable Certificate Interest
      in respect of such Class of Certificates for such Distribution Date (net
      of any portion thereof distributed on such Distribution Date to the
      Holders of any other Class of Certificates pursuant to any prior clause of
      this Section 4.01(a));

            (xi) after the Class Principal Balances of the Class A Certificates
      have been reduced to zero, to distributions of principal to the Holders of
      the Class A-M Certificates, in an amount (not to exceed the Class
      Principal Balance of the Class A-M Certificates outstanding immediately
      prior to such Distribution Date) equal to the Principal Distribution
      Amount for such Distribution Date (net of any portion thereof distributed
      on such Distribution Date to the Holders of any other Class of
      Certificates pursuant to any prior clause of this Section 4.01(a));

            (xii) to distributions to the Holders of the Class A-M Certificates,
      in an amount equal to, and in reimbursement of, all Realized Losses and
      Additional Trust Expenses, if any, previously allocated to the Class A-M
      Certificates and not previously reimbursed;

            (xiii) to distributions of interest to the Holders of the Class A-J
      Certificates in an amount equal to all Distributable Certificate Interest
      in respect of such Class of Certificates for such Distribution Date and,
      to the extent not previously paid, for all prior Distribution Dates;

            (xiv) after the Class Principal Balances of the Class A Certificates
      and the Class A-M Certificates have been reduced to zero, to distributions
      of principal to the Holders of the Class A-J Certificates, in an amount
      (not to exceed the Class Principal Balance of the Class A-J Certificates
      outstanding immediately prior to such Distribution Date) equal to the
      entire Principal Distribution Amount for such Distribution Date (net of
      any portion thereof distributed on such Distribution Date to the Holders
      of any other Class of Certificates pursuant to any prior clause of this
      Section 4.01(a));

            (xv) to distributions to the Holders of the Class A-J Certificates,
      in an amount equal to, and in reimbursement of, all Realized Losses and
      Additional Trust Fund Expenses, if any, previously allocated to the Class
      A-J Certificates and not previously reimbursed;

            (xvi) to distributions of interest to the Holders of the Class B
      Certificates in an amount equal to all Distributable Certificate Interest
      in respect of such Class of Certificates for such Distribution Date and,
      to the extent not previously paid, for all prior Distribution Dates;

            (xvii) after the Class Principal Balance of the Class A-J
      Certificates has been reduced to zero, to distributions of principal to
      the Holders of the Class B Certificates, in an amount (not to exceed the
      Class Principal Balance of the Class B Certificates outstanding
      immediately prior to such Distribution Date) equal to the entire Principal
      Distribution Amount for such Distribution Date (net of any portion thereof
      distributed on such Distribution Date to the Holders of any other Class of
      Certificates pursuant to any prior clause of this Section 4.01(a));

            (xviii) to distributions to the Holders of the Class B Certificates,
      in an amount equal to, and in reimbursement of, all Realized Losses and
      Additional Trust Fund Expenses, if any, previously allocated to the Class
      B Certificates and not previously reimbursed;

            (xix) to distributions of interest to the Holders of the Class C
      Certificates in an amount equal to all Distributable Certificate Interest
      in respect of such Class of Certificates for such Distribution Date and,
      to the extent not previously paid, for all prior Distribution Dates;

            (xx) after the Class Principal Balance of the Class B Certificates
      has been reduced to zero, to distributions of principal to the Holders of
      the Class C Certificates, in an amount (not to exceed the Class Principal
      Balance of the Class C Certificates outstanding immediately prior to such
      Distribution Date) equal to the entire Principal Distribution Amount for
      such Distribution Date (net of any portion thereof distributed on such
      Distribution Date to the Holders of any other Class of Certificates
      pursuant to any prior clause of this Section 4.01(a));

            (xxi) to distributions to the Holders of the Class C Certificates,
      in an amount equal to, and in reimbursement of, all Realized Losses and
      Additional Trust Fund Expenses, if any, previously allocated to the Class
      C Certificates and not previously reimbursed;

            (xxii) to distributions of interest to the Holders of the Class D
      Certificates, in an amount equal to all Distributable Certificate Interest
      in respect of the Class D Certificates for such Distribution Date and, to
      the extent not previously paid, for all prior Distribution Dates;

            (xxiii) after the Class Principal Balance of the Class C
      Certificates has been reduced to zero, to distributions of principal to
      the Holders of the Class D Certificates, in an amount (not to exceed the
      Class Principal Balance of the Class D Certificates outstanding
      immediately prior to such Distribution Date) equal to the entire Principal
      Distribution Amount for such Distribution Date (net of any portion thereof
      distributed on such Distribution Date to the Holders of any other Class of
      Certificates pursuant to any prior clause of this Section 4.01(a));

            (xxiv) to distributions to the Holders of the Class D Certificates,
      in an amount equal to, and in reimbursement of, all Realized Losses and
      Additional Trust Fund Expenses, if any, previously allocated to the Class
      D Certificates and not previously reimbursed;

            (xxv) to distributions of interest to the Holders of the Class E
      Certificates, in an amount equal to all Distributable Certificate Interest
      in respect of the Class E Certificates for such Distribution Date and, to
      the extent not previously paid, for all prior Distribution Dates;

            (xxvi) after the Class Principal Balance of the Class D Certificates
      has been reduced to zero, to distributions of principal to the Holders of
      the Class E Certificates, in an amount (not to exceed the Class Principal
      Balance of the Class E Certificates outstanding immediately prior to such
      Distribution Date) equal to the entire Principal Distribution Amount for
      such Distribution Date (net of any portion thereof distributed on such
      Distribution Date to the Holders of any other Class of Certificates
      pursuant to any prior clause of this Section 4.01(a));

            (xxvii) to distributions to the Holders of the Class E Certificates,
      in an amount equal to, and in reimbursement of, all Realized Losses and
      Additional Trust Fund Expenses, if any, previously allocated to the Class
      E Certificates and not previously reimbursed;

            (xxviii) to distributions of interest to the Holders of the Class F
      Certificates, in an amount equal to all Distributable Certificate Interest
      in respect of the Class F Certificates for such Distribution Date and, to
      the extent not previously paid, for all prior Distribution Dates;

            (xxix) after the Class Principal Balance of the Class E Certificates
      has been reduced to zero, to distributions of principal to the Holders of
      the Class F Certificates, in an amount (not to exceed the Class Principal
      Balance of the Class F Certificates outstanding immediately prior to such
      Distribution Date) equal to the entire Principal Distribution Amount for
      such Distribution Date (net of any portion thereof distributed on such
      Distribution Date to the Holders of any other Class of Certificates
      pursuant to any prior clause of this Section 4.01(a));

            (xxx) to distributions to the Holders of the Class F Certificates,
      in an amount equal to, and in reimbursement of, all Realized Losses and
      Additional Trust Fund Expenses, if any, previously allocated to the Class
      F Certificates and not previously reimbursed;

            (xxxi) to distributions of interest to the Holders of the Class G
      Certificates, in an amount equal to all Distributable Certificate Interest
      in respect of the Class G Certificates for such Distribution Date and, to
      the extent not previously paid, for all prior Distribution Dates;

            (xxxii) after the Class Principal Balance of the Class F
      Certificates has been reduced to zero, to distributions of principal to
      the Holders of the Class G Certificates, in an amount (not to exceed the
      Class Principal Balance of the Class G Certificates outstanding
      immediately prior to such Distribution Date) equal to the entire Principal
      Distribution Amount for such Distribution Date (net of any portion thereof
      distributed on such Distribution Date to the Holders of any other Class of
      Certificates pursuant to any prior clause of this Section 4.01(a));

            (xxxiii) to distributions to the Holders of the Class G
      Certificates, in an amount equal to, and in reimbursement of, all Realized
      Losses and Additional Trust Fund Expenses, if any, previously allocated to
      the Class G Certificates and not previously reimbursed;

            (xxxiv) to distributions of interest to the Holders of Class H
      Certificates, in an amount equal to all Distributable Certificate Interest
      in respect of the Class H Certificates for such Distribution Date and, to
      the extent not previously paid, for all prior Distribution Dates;

            (xxxv) after the Class Principal Balance of the Class G Certificates
      has been reduced to zero, to distributions of principal to the Holders of
      the Class H Certificates, in an amount (not to exceed the Class Principal
      Balance of the Class H Certificates outstanding immediately prior to such
      Distribution Date) equal to the entire Principal Distribution Amount for
      such Distribution Date (net of any portion thereof distributed on such
      Distribution Date to the Holders of any other Class of Certificates
      pursuant to any prior clause of this Section 4.01(a));

            (xxxvi) to distributions to the Holders of the Class H Certificates
      in an amount equal to, and in reimbursement of, all Realized Losses and
      Additional Trust Fund Expenses, if any, previously allocated to the Class
      H Certificates and not previously reimbursed;

            (xxxvii) to distributions of interest to the Holders of the Class J
      Certificates, in an amount equal to all Distributable Certificate Interest
      in respect of the Class J Certificates for such Distribution Date and, to
      the extent not previously paid, for all prior Distribution Dates;

            (xxxviii) after the Class Principal Balance of the Class H
      Certificates has been reduced to zero, to distributions of principal to
      the Holders of the Class J Certificates, in an amount (not to exceed the
      Class Principal Balance of the Class J Certificates outstanding
      immediately prior to such Distribution Date) equal to the entire Principal
      Distribution Amount for such Distribution Date (net of any portion thereof
      distributed on such Distribution Date to the Holders of any other Class of
      Certificates pursuant to any prior clause of this Section 4.01(a));

            (xxxix) to distributions to the Holders of the Class J Certificates,
      in an amount equal to, and in reimbursement of, all Realized Losses and
      Additional Trust Fund Expenses, if any, previously allocated to the Class
      J Certificates and not previously reimbursed;

            (xl) to distributions of interest to the Holders of the Class K
      Certificates, in an amount equal to all Distributable Certificate Interest
      in respect of the Class K Certificates for such Distribution Date and, to
      the extent not previously paid, for all prior Distribution Dates;

            (xli) after the Class Principal Balance of the Class J Certificates
      has been reduced to zero, to distributions of principal to the Holders of
      the Class K Certificates, in an amount (not to exceed the Class Principal
      Balance of the Class K Certificates outstanding immediately prior to such
      Distribution Date) equal to the entire Principal Distribution Amount for
      such Distribution Date (net of any portion thereof distributed on such
      Distribution Date to the Holders of any other Class of Certificates
      pursuant to any prior clause of this Section 4.01(a));

            (xlii) to distributions to the Holders of the Class K Certificates,
      in an amount equal to, and in reimbursement of, all Realized Losses and
      Additional Trust Fund Expenses, if any, previously allocated to the Class
      K Certificates and not previously reimbursed;

            (xliii) to distributions of interest to the Holders of the Class L
      Certificates, in an amount equal to all Distributable Certificate Interest
      in respect of the Class L Certificates for such Distribution Date and, to
      the extent not previously paid, for all prior Distribution Dates;

            (xliv) after the Class Principal Balance of the Class K Certificates
      has been reduced to zero, to distributions of principal to the Holders of
      the Class L Certificates, in an amount (not to exceed the Class Principal
      Balance of the Class L Certificates outstanding immediately prior to such
      Distribution Date) equal to the entire Principal Distribution Amount for
      such Distribution Date (net of any portion thereof distributed on such
      Distribution Date to the Holders of any other Class of Certificates
      pursuant to any prior clause of this Section 4.01(a));

            (xlv) to distributions to the Holders of the Class L Certificates,
      in an amount equal to, and in reimbursement of, all Realized Losses and
      Additional Trust Fund Expenses, if any, previously allocated to the Class
      L Certificates and not previously reimbursed;

            (xlvi) to distributions of interest to the Holders of the Class M
      Certificates, in an amount equal to all Distributable Certificate Interest
      in respect of the Class M Certificates for such Distribution Date and, to
      the extent not previously paid, for all prior Distribution Dates;

            (xlvii) after the Class Principal Balance of the Class L
      Certificates has been reduced to zero, to distributions of principal to
      the Holders of the Class M Certificates, in an amount (not to exceed the
      Class Principal Balance of the Class M Certificates outstanding
      immediately prior to such Distribution Date) equal to the entire Principal
      Distribution Amount for such Distribution Date (net of any portion thereof
      distributed on such Distribution Date to the Holders of any other Class of
      Certificates pursuant to any prior clause of this Section 4.01(a));

            (xlviii) to distributions to the Holders of the Class M
      Certificates, in an amount equal to, and in reimbursement of, all Realized
      Losses and Additional Trust Fund Expenses, if any, previously allocated to
      the Class M Certificates and not previously reimbursed;

            (xlix) to distributions of interest to the Holders of the Class N
      Certificates, in an amount equal to all Distributable Certificate Interest
      in respect of the Class N Certificates for such Distribution Date and, to
      the extent not previously paid, for all prior Distribution Dates;

            (l) after the Class Principal Balance of the Class M Certificates
      has been reduced to zero, to distributions of principal to the Holders of
      the Class N Certificates, in an amount (not to exceed the Class Principal
      Balance of the Class N Certificates outstanding immediately prior to such
      Distribution Date) equal to the entire Principal Distribution Amount for
      such Distribution Date (net of any portion thereof distributed on such
      Distribution Date to the Holders of any other Class of Certificates
      pursuant to any prior clause of this Section 4.01(a));

            (li) to distributions to the Holders of the Class N Certificates, in
      an amount equal to, and in reimbursement of, all Realized Losses and
      Additional Trust Fund Expenses, if any, previously allocated to the Class
      N Certificates and not previously reimbursed;

            (lii) to distributions of interest to the Holders of the Class O
      Certificates, in an amount equal to all Distributable Certificate Interest
      in respect of the Class O Certificates for such Distribution Date and, to
      the extent not previously paid, for all prior Distribution Dates;

            (liii) after the Class Principal Balance of the Class N Certificates
      has been reduced to zero, to distributions of principal to the Holders of
      the Class O Certificates, in an amount (not to exceed the Class Principal
      Balance of the Class O Certificates outstanding immediately prior to such
      Distribution Date) equal to the entire Principal Distribution Amount for
      such Distribution Date (net of any portion thereof distributed on such
      Distribution Date to the Holders of any other Class of Certificates
      pursuant to any prior clause of this Section 4.01(a));

            (liv) to distributions to the Holders of the Class O Certificates,
      in an amount equal to, and in reimbursement of, all Realized Losses and
      Additional Trust Fund Expenses, if any, previously allocated to the Class
      O Certificates and not previously reimbursed;

            (lv) to distributions of interest to the Holders of the Class P
      Certificates, in an amount equal to all Distributable Certificate Interest
      in respect of the Class P Certificates for such Distribution Date and, to
      the extent not previously paid, for all prior Distribution Dates;

            (lvi) after the Class Principal Balance of the Class O Certificates
      has been reduced to zero, to distributions of principal to the Holders of
      the Class P Certificates, in an amount (not to exceed the Class Principal
      Balance of the Class P Certificates outstanding immediately prior to such
      Distribution Date) equal to the entire Principal Distribution Amount for
      such Distribution Date (net of any portion thereof distributed on such
      Distribution Date to the Holders of any other Class of Certificates
      pursuant to any prior clause of this Section 4.01(a));

            (lvii) to distributions to the Holders of the Class P Certificates,
      in an amount equal to, and in reimbursement of, all Realized Losses and
      Additional Trust Fund Expenses, if any, previously allocated to the Class
      P Certificates and not previously reimbursed;

            (lviii) to distributions of interest to the Holders of the Class Q
      Certificates, in an amount equal to all Distributable Certificate Interest
      in respect of the Class Q Certificates for such Distribution Date and, to
      the extent not previously paid, for all prior Distribution Dates;

            (lix) after the Class Principal Balance of the Class P Certificates
      has been reduced to zero, to distributions of principal to the Holders of
      the Class Q Certificates, in an amount (not to exceed the Class Principal
      Balance of the Class Q Certificates outstanding immediately prior to such
      Distribution Date) equal to the entire Principal Distribution Amount for
      such Distribution Date (net of any portion thereof distributed on such
      Distribution Date to the Holders of any other Class of Certificates
      pursuant to any prior clause of this Section 4.01(a));

            (lx) to distributions to the Holders of the Class Q Certificates, in
      an amount equal to, and in reimbursement of, all Realized Losses and
      Additional Trust Fund Expenses, if any, previously allocated to the Class
      Q Certificates and not previously reimbursed; and

            (lxi) to make distributions to the Holders of the Class R-II
      Certificates, in an amount equal to the excess, if any, of (A) the
      aggregate distributions deemed made in respect of the REMIC I Regular
      Interests on such Distribution Date pursuant to Section 4.01(h), over (B)
      the aggregate distributions made in respect of the Regular Certificates on
      such Distribution Date pursuant to clauses (i) through (lx) above;

provided that on each Distribution Date after the aggregate of Class Principal
Balances of each Class of Subordinated Certificates have been reduced to zero,
but any two or more of the Class A-1 Certificates, the Class A-2 Certificates,
the Class A-3 Certificates, the Class A-PB Certificates, the Class A-4
Certificates and the Class A-1A Certificates remain outstanding, the payments of
principal to be made as contemplated by clauses (iii) through (x) above with
respect to the Class A Certificates will be made to the Holders of the
respective Classes of such Class A Certificates up to an amount equal to, and
pro rata as among such Classes in accordance with, the respective then
outstanding Class Principal Balances of such Classes of Certificates and without
regard to the Principal Distribution Amount for such Distribution Date and
without regard to Loan Group. Distributions in reimbursement of Realized Losses
and Additional Trust Fund Expenses previously allocated to a Class of
Certificates shall not constitute distributions of principal and shall not
result in reduction of the related Class Principal Balance.

            All distributions of interest made in respect of the Class IO
Certificates on any Distribution Date pursuant to clause (i) above, shall be
deemed to have been made in respect of all the Components of such Class, pro
rata in accordance with the respective amounts of interest that would be payable
on such Components on such Distribution Date based on the Strip Rate of such
Component multiplied by its Component Notional Amount, together with any amounts
thereof remaining unpaid from previous Distribution Dates.

            (b) On each Distribution Date, the Paying Agent shall withdraw from
      the Distribution Account any amounts that represent Prepayment Premiums
      and/or Yield Maintenance Charges actually collected on the Mortgage Loans
      and any REO Loans during the related Collection Period and shall be deemed
      to distribute such Prepayment Premiums and/or Yield Maintenance Charges
      from REMIC I to REMIC II in respect of REMIC I Regular Interest LA-1
      (whether or not such Class has received all distributions of interest and
      principal to which it is entitled), and then shall distribute each such
      Prepayment Premium and/or Yield Maintenance Charge, as additional yield,
      as follows:

            (i) First, to the Holders of the respective Classes of Regular
      Certificates (other than any Excluded Class thereof entitled to
      distributions of principal pursuant to Section 4.01(a) on such
      Distribution Date, up to an amount equal to, and pro rata based on, the
      Additional Yield Amounts for each such Class of Certificates for such
      Distribution Date; and

            (ii) Second, to the Holders of the Class IO Certificates to the
      extent of any remaining portion of such Yield Maintenance Charges and/or
      Prepayment Premiums.

            On each Distribution Date, the Paying Agent shall withdraw from the
Additional Interest Account any amounts that represent (A) Additional Interest
actually collected during the related Collection Period on the ARD Loans and any
related REO Loans and shall distribute such amounts among the Holders of the
Class Z Certificates pro rata in accordance with the respective Percentage
Interests of such Class, and (B) interest and investment income, if any, earned
in respect of amounts held in the Additional Interest Account as provided in
Section 3.06, but only to the extent of the Net Investment Earnings with respect
to such account for the related Distribution Date, and shall distribute such
amount to the Trustee as additional compensation.

            (c) All distributions made with respect to each Class on each
      Distribution Date shall be allocated pro rata among the outstanding
      Certificates in such Class based on their respective Percentage Interests.
      Except as otherwise provided below, all such distributions with respect to
      each Class on each Distribution Date shall be made to the
      Certificateholders of the respective Class of record at the close of
      business on the related Record Date and shall be made by wire transfer of
      immediately available funds to the account of any such Certificateholder
      at a bank or other entity having appropriate facilities therefor, if such
      Certificateholder shall have provided the Paying Agent with wiring
      instructions no less than 5 Business Days prior to the related Record Date
      (which wiring instructions may be in the form of a standing order
      applicable to all subsequent Distribution Dates), or otherwise by check
      mailed to the address of such Certificateholder as it appears in the
      Certificate Register. The final distribution on each Certificate
      (determined, in the case of a Sequential Pay Certificate, without regard
      to any possible future reimbursement of any Realized Loss or Additional
      Trust Fund Expense previously allocated to such Certificate, but taking
      into account possible future distributions of Additional Interest) will be
      made in a like manner, but only upon presentation and surrender of such
      Certificate at the offices of the Certificate Registrar or such other
      location specified in the notice to Certificateholders of such final
      distribution. Prior to any termination of the Trust Fund pursuant to
      Section 9.01, any distribution that is to be made with respect to a
      Certificate in reimbursement of a Realized Loss or Additional Trust Fund
      Expense previously allocated thereto, which reimbursement is to occur
      after the date on which such Certificate is surrendered as contemplated by
      the preceding sentence, will be made by check mailed to the address of the
      Certificateholder that surrendered such Certificate as such address last
      appeared in the Certificate Register or to any other address of which the
      Paying Agent was subsequently notified in writing. If such check is
      returned to the Paying Agent, the Paying Agent, directly or through an
      agent, shall take such reasonable steps to contact the related Holder and
      deliver such check as it shall deem appropriate. Any funds in respect of a
      check returned to the Paying Agent shall be set aside by the Paying Agent
      and held uninvested in trust and credited to the account of the
      appropriate Holder. The costs and expenses of locating the appropriate
      Holder and holding such funds shall be paid out of such funds. No interest
      shall accrue or be payable to any former Holder on any amount held in
      trust hereunder. If the Paying Agent has not, after having taken such
      reasonable steps, located the related Holder by the second anniversary of
      the initial sending of a check, the Paying Agent shall, subject to
      applicable law, distribute the unclaimed funds to the Holders of the Class
      R-II Certificates.

            (d) Each distribution with respect to a Book-Entry Certificate shall
      be paid to the Depository, as Holder thereof, and the Depository shall be
      responsible for crediting the amount of such distribution to the accounts
      of its Depository Participants in accordance with its normal procedures.
      Each Depository Participant shall be responsible for disbursing such
      distribution to the related Certificate Owners that it represents and to
      each indirect participating brokerage firm (a "brokerage firm" or
      "indirect participating firm") for which it acts as agent. Each brokerage
      firm shall be responsible for disbursing funds to the related Certificate
      Owners that it represents. None of the Trustee, the Paying Agent, the
      Certificate Registrar, the Depositor or the Master Servicer shall have any
      responsibility therefor except as otherwise provided by this Agreement or
      applicable law. The Trustee and the Depositor shall perform their
      respective obligations under a Letter of Representations among the
      Depositor, the Trustee and the Initial Depository dated as of the Closing
      Date.

            (e) The rights of the Certificateholders to receive distributions
      from the proceeds of the Trust Fund in respect of the Certificates, and
      all rights and interests of the Certificateholders in and to such
      distributions, shall be as set forth in this Agreement. Neither the
      Holders of any Class of Certificates nor any party hereto shall in any way
      be responsible or liable to the Holders of any other Class of Certificates
      in respect of amounts properly previously distributed on the Certificates.

            (f) Except as otherwise provided in Section 9.01, whenever the
      Paying Agent receives written notification of or expects that the final
      distribution with respect to any Class of Certificates (determined without
      regard to any possible future reimbursement of any Realized Loss or
      Additional Trust Fund Expense previously allocated to such Class of
      Certificates) will be made on the next Distribution Date, the Paying Agent
      shall, no later than 5 days after the related Determination Date, mail to
      each Holder of record on such date of such Class of Certificates a notice
      to the effect that:

            (i) the Paying Agent expects that the final distribution with
      respect to such Class of Certificates will be made on such Distribution
      Date but only upon presentation and surrender of such Certificates at the
      office of the Certificate Registrar or at such other location therein
      specified, and

            (ii) no interest shall accrue on such Certificates from and after
      such Distribution Date.

            Any funds not distributed to any Holder or Holders of Certificates
of such Class on such Distribution Date because of the failure of such Holder or
Holders to tender their Certificates shall, on such date, be set aside and held
uninvested in trust and credited to the account or accounts of the appropriate
non-tendering Holder or Holders. If any Certificates as to which notice has been
given pursuant to this Section 4.01(f) shall not have been surrendered for
cancellation within six months after the time specified in such notice, the
Paying Agent shall mail a second notice to the remaining non-tendering
Certificateholders to surrender their Certificates for cancellation in order to
receive the final distribution with respect thereto. If within one year after
the second notice all such Certificates shall not have been surrendered for
cancellation, the Paying Agent, directly or through an agent, shall take such
steps to contact the remaining non-tendering Certificateholders concerning the
surrender of their Certificates as it shall deem appropriate. The costs and
expenses of holding such funds in trust and of contacting such
Certificateholders following the first anniversary of the delivery of such
second notice to the non-tendering Certificateholders shall be paid out of such
funds. No interest shall accrue or be payable to any former Holder on any amount
held in trust pursuant to this paragraph. If all of the Certificates shall not
have been surrendered for cancellation by the second anniversary of the delivery
of the second notice, the Paying Agent shall, subject to applicable law,
distribute to the Holders of the Class R-II Certificates all unclaimed funds and
other assets which remain subject thereto.

            (g) Notwithstanding any other provision of this Agreement, the
      Paying Agent shall comply with all federal withholding requirements
      respecting payments to Certificateholders of interest or original issue
      discount that the Paying Agent reasonably believes are applicable under
      the Code. The Certificate Registrar shall promptly provide the Paying
      Agent with any IRS Forms W-9, W-8BEN, W-8IMY (and all appropriate
      attachments) or W-8ECI upon its receipt thereof. The consent of
      Certificateholders shall not be required for such withholding. If the
      Paying Agent does withhold any amount from interest or original issue
      discount payments or advances thereof to any Certificateholder pursuant to
      federal withholding requirements, the Paying Agent shall indicate the
      amount withheld to such Certificateholders. Such amounts shall be deemed
      to have been distributed to such Certificateholders for all purposes of
      this Agreement.

            (h) All distributions made in respect of any Class of Sequential Pay
      Certificates on each Distribution Date pursuant to Section 4.01(a) or
      Section 9.01 shall be deemed to have first been distributed, with respect
      to the Sequential Pay Certificates from REMIC I to REMIC II in respect of
      its Corresponding REMIC I Regular Interest set forth in the Preliminary
      Statement hereto; provided that all distributions made in respect of the
      Class IO Certificates on each Distribution Date pursuant to Section
      4.01(a) or Section 9.01, and allocable to any particular Component of such
      Class of Certificates in accordance with the last paragraph of Section
      4.01(a), shall be deemed to have been first distributed from REMIC I to
      REMIC II in respect of such Component's Corresponding REMIC I Regular
      Interest.

            (i) Reimbursements of Realized Losses and Additional Trust Fund
      Expenses to the classes of Sequential Pay Certificates shall be allocated
      to the corresponding REMIC I Regular Interests in the same manner as
      distributions of principal specified above. All distributions of principal
      and reimbursements of Realized Losses and Additional Trust Fund Expenses
      made in respect of any Class of Sequential Pay Certificates on each
      Distribution Date pursuant to Section 4.01(a) shall be deemed to have
      first been distributed from REMIC I to REMIC II in respect of its
      Corresponding REMIC I Regular Interest set forth in the Preliminary
      Statement hereto. Any amounts remaining in REMIC I on any Distribution
      Date after the foregoing distributions shall be distributed to the Holders
      of the Class R-I Certificates.

            (j) [Reserved].

            (k) On each Distribution Date, or with respect to a Companion Loan
      (other than the Non-Serviced Companion Loans) then included in a
      securitization, on each P&I Advance Date, the Companion Paying Agent
      (based upon a statement of the Master Servicer to be delivered to the
      Companion Paying Agent that specifies the amount required to be deposited
      in the Companion Distribution Account and any amounts payable to the
      Master Servicer from the Companion Distribution Account pursuant to this
      Section 4.01(k)) shall make withdrawals and payments from the Companion
      Distribution Account for the related Companion Loans in the following
      order of priority:

            (i) to pay the Trustee or any of its directors, officers, employees
      or agents, as the case may be, any amounts payable or reimbursable to any
      such Person pursuant to Section 8.05, to the extent any such amounts
      relate solely to a Loan Pair;

            (ii) to pay for the cost of the Opinions of Counsel sought by the
      Trustee as contemplated by Sections 9.02(a) and 10.01(h), to the extent
      any such costs relate to a Loan Pair;

            (iii) to pay to the Master Servicer any amounts deposited by the
      Master Servicer in the Companion Distribution Account not required to be
      deposited therein;

            (iv) on each Distribution Date, to pay all amounts remaining in the
      Companion Distribution Account to the Companion Holder; and

            (v) to clear and terminate the Companion Distribution Account at the
      termination of this Agreement pursuant to Section 9.01.

            All distributions from a Companion Distribution Account required
hereunder shall be made by the Companion Paying Agent to the Companion Holder by
wire transfer in immediately available funds to the account of such Companion
Holder or an agent therefor appearing on the Companion Register on the related
Record Date (or, if no such account so appears or information relating thereto
is not provided at least 5 Business Days prior to the related Record Date, by
check sent by first-class mail to the address of such Companion Holder or its
agent appearing on the Companion Register). Any such account shall be located at
a commercial bank in the United States of America. For the avoidance of doubt,
in no event shall the Companion Paying Agent withdraw from funds on deposit in
the Companion Distribution Account any amounts allocable to any of the Pari
Passu Companion Loans (other than Penalty Interest and late payment charges) to
be applied to, or to provide reimbursement for, any costs, expenses,
indemnities, losses or liabilities relating or allocable to any Mortgage Loan or
Companion Loan other than the related Mortgage Loan or its related Pari Passu
Companion Loans.

            To the extent amounts are payable to or in respect of the Trust Fund
pursuant to this Section 4.01(k)(i) or (ii), the Companion Distribution Account
shall be considered an "outside reserve fund" within the meaning of the REMIC
Provisions, beneficially owned by the Companion Holder for federal income tax
purposes, who shall be taxable on all reinvestment income thereon, and who shall
be deemed to have received any amounts reimbursed from the Trust Fund to the
Companion Distribution Account.

            (l) On each Distribution Date, the Paying Agent shall withdraw
amounts from the Gain-on-Sale Reserve Account and shall distribute such amounts
to reimburse the Holders of each Class of Sequential Pay Certificates (in order
of priority) up to an amount equal to all Realized Losses and Additional Trust
Fund Expenses, if any, previously deemed allocated to such Classes and
unreimbursed after application of the Available Distribution Amount for such
Distribution Date. Amounts paid from the Gain-on-Sale Reserve Account pursuant
to the preceding sentence shall first be deemed to have been distributed to the
Corresponding REMIC I Regular Interest(s) in reimbursement of Realized Losses
and Additional Trust Fund Expenses previously allocated thereto as provided in
Section 4.01(i). Amounts paid from the Gain-on-Sale Reserve Account will not
reduce the Certificate Principal Balances of the Classes of Sequential Pay
Certificates receiving such distributions. Any amounts remaining in the
Gain-on-Sale Reserve Account after such distributions shall be applied to offset
future Realized Losses and Additional Trust Fund Expenses and upon termination
of the Trust Fund, any amounts remaining in the Gain-on-Sale Reserve Account
shall be distributed to the Class R-I Certificateholders.

            (m) Notwithstanding any other provision of this Agreement, the
Paying Agent shall comply with all federal withholding requirements respecting
payments to Certificateholders of interest or original issue discount that the
Paying Agent reasonably believes are applicable under the Code taking into
account any applicable exemptions from, or reductions in, withholding upon
receipt of appropriate Internal Revenue Service forms and documentation. The
consent of Certificateholders shall not be required for such withholding. In the
event the Paying Agent does withhold any amount from interest or original issue
discount payments or advances thereof to any Certificateholder pursuant to
federal withholding requirements, the Paying Agent shall indicate the amount
withheld to such Certificateholders. Such amounts shall be deemed to have been
distributed to such Certificateholders for all purposes of this Agreement.

            Section 4.02. Statements to Certificateholders; CMSA Loan Periodic
Update File.

            (a) On each Distribution Date, the Trustee shall make available on
      the Trustee's Internet Website or, upon written request, forward by mail
      (or by electronic transmission acceptable to the recipient) to each
      Certificateholder, each initial Certificate Owner and (upon written
      request made to the Trustee) each subsequent Certificate Owner (as
      identified to the reasonable satisfaction of the Trustee), the Depositor,
      the Master Servicer, the Special Servicer, the Companion Holders, the
      Underwriters and each Rating Agency, a statement (a "Distribution Date
      Statement"), as to the distributions made on such Distribution Date, based
      on information provided to it by the Master Servicer and the Special
      Servicer, setting forth:

            (i) the Record Date, the Determination Date, the Distribution Date
      and dates of the Interest Accrual Period for each Class of Certificates;

            (ii) the amount of the distribution on such Distribution Date to the
      Holders of each Class of Regular Certificates in reduction of the Class
      Principal Balance thereof;

            (iii) the amount of the distribution on such Distribution Date to
      the Holders of each Class of Regular Certificates allocable to
      Distributable Certificate Interest;

            (iv) the amount of the distribution on such Distribution Date to the
      Holders of each Class of Regular Certificates allocable to Prepayment
      Premiums and/or Yield Maintenance Charges;

            (v) the amount of the distribution on such Distribution Date to the
      Holders of each Class of Regular Certificates in reimbursement of
      previously allocated Realized Losses and Additional Trust Fund Expenses;

            (vi) the Available Distribution Amount for such Distribution Date
      and the sources of such amount;

            (vii) (a) the aggregate amount of P&I Advances made in respect of
      such Distribution Date on a loan by loan basis with respect to the
      Mortgage Pool and on an aggregate basis with respect to each Loan Group
      pursuant to Section 4.03(a), including, without limitation, any amounts
      applied pursuant to Section 4.03(a)(ii), and the aggregate amount of
      unreimbursed P&I Advances with respect to the Mortgage Pool and each Loan
      Group that had been outstanding at the close of business on the related
      Determination Date and the aggregate amount of interest accrued and
      payable to the Master Servicer or the Trustee in respect of such
      unreimbursed P&I Advances in accordance with Section 4.03(d) as of the
      close of business on the related Determination Date, (b) the aggregate
      amount of Servicing Advances on a loan by loan basis with respect to the
      Mortgage Pool and on an aggregate basis with respect to each Loan Group as
      of the close of business on the related Determination Date and (c) to the
      extent available, the foregoing information listed in this clause (vi)
      with respect to P&I Advances by the 2006-C28 Master Servicer on the
      2006-C28 Serviced Mortgage Loan;

            (viii) the aggregate unpaid principal balance of the Mortgage Pool
      and each Loan Group outstanding as of the close of business on the related
      Determination Date;

            (ix) the aggregate Stated Principal Balance of the Mortgage Pool and
      each Loan Group outstanding immediately before and immediately after such
      Distribution Date;

            (x) the number, aggregate unpaid principal balance, weighted average
      remaining term to maturity or Anticipated Repayment Date, each Mortgage
      Rate and weighted average Mortgage Rate of the Mortgage Loans in the
      Mortgage Pool and each Loan Group as of the close of business on the
      related Determination Date presented in distributional groups and/or
      incremental ranges acceptable to the Depositor in its reasonable
      discretion;

            (xi) the number of Mortgage Loans and the aggregated Stated
      Principal Balance (immediately after such Distribution Date) (and with
      respect to each delinquent Mortgage Loan, a brief description of the
      reason for delinquency, if known by the Master Servicer or Special
      Servicer, as applicable, and provided to the Trustee) of Mortgage Loans
      (A) delinquent 30-59 days, (B) delinquent 60-89 days, (C) delinquent more
      than 89 days, (D) as to which foreclosure proceedings have been commenced,
      (E) with respect to each Specially Serviced Mortgage Loan, the Mortgaged
      Property type and a brief description of the reason for delinquency and
      the Mortgage Loan's status, if known by the Special Servicer, and provided
      to the Trustee, (F) to the actual knowledge of the Master Servicer or
      Special Servicer in bankruptcy proceedings and (G) any material changes to
      the information specified in Item 1100(b)(5) of Regulation AB, as amended;

            (xii) as to each Mortgage Loan referred to in the preceding clause
      (x) above, (A) the loan number thereof, (B) the Stated Principal Balance
      thereof immediately following such Distribution Date, and (C) a brief
      description of any loan modification, extension or waiver (identifying the
      relevant loan number);

            (xiii) with respect to any Mortgage Loan as to which a Liquidation
      Event occurred during the related Collection Period (other than a payment
      in full), (A) the loan number thereof, (B) the aggregate of all
      Liquidation Proceeds and other amounts received in connection with such
      Liquidation Event (separately identifying the portion thereof allocable to
      distributions on the Certificates), and (C) the amount of any Realized
      Loss in connection with such Liquidation Event;

            (xiv) with respect to any REO Property included in the Trust Fund as
      to which a Final Recovery Determination was made during the related
      Collection Period, (A) the loan number of the related Mortgage Loan, (B)
      the aggregate of all Liquidation Proceeds and other amounts received in
      connection with such Final Recovery Determination (separately identifying
      the portion thereof allocable to distributions on the Certificates), and
      (C) the amount of any Realized Loss in respect of the related REO
      Property, in connection with such Final Recovery Determination;

            (xv) the Accrued Certificate Interest and Distributable Certificate
      Interest in respect of each Class of Regular Certificates for such
      Distribution Date;

            (xvi) any unpaid Distributable Certificate Interest in respect of
      each Class of Regular Certificates after giving effect to the
      distributions made on such Distribution Date;

            (xvii) the Pass-Through Rate for each Class of Regular Certificates
      for such Distribution Date;

            (xviii) the Principal Distribution Amount;

            (xix) the Principal Distribution Amount, the Loan Group 1 Principal
      Distribution Amount and the Loan Group 2 Principal Distribution Amount for
      such Distribution Date, separately identifying the respective components
      thereof (and, in the case of any Principal Prepayment or other unscheduled
      collection of principal received during the related Collection Period, the
      loan number for the related Mortgage Loan and the amount of such
      prepayment or other collection of principal);

            (xx) the aggregate of all Realized Losses incurred during the
      related Collection Period and all Additional Trust Fund Expenses incurred
      during the related Collection Period;

            (xxi) the aggregate of all Realized Losses and Additional Trust Fund
      Expenses that were allocated to each Class of Certificates on such
      Distribution Date;

            (xxii) the Class Principal Balance of each Class of Regular
      Certificates (other than the Class IO Certificates) and the Notional
      Amounts of the Class IO Certificates immediately before and immediately
      after such Distribution Date, separately identifying any reduction therein
      due to the allocation of Realized Losses and Additional Trust Fund
      Expenses on such Distribution Date;

            (xxiii) the Certificate Factor for each Class of Regular
      Certificates immediately following such Distribution Date;

            (xxiv) the aggregate amount of interest on P&I Advances paid to the
      Master Servicer and the Trustee (and, if applicable, the 2006-C28 Master
      Servicer), with respect to the Mortgage Pool and each Loan Group during
      the related Collection Period in accordance with Section 4.03(d);

            (xxv) the aggregate amount of interest on Servicing Advances paid to
      the Master Servicer, the Trustee and the Special Servicer (and, if
      applicable, the 2006-C28 Master Servicer and the 2006-C28 Special
      Servicer), during the related Collection Period in accordance with Section
      3.03(d) with respect to the Mortgage Pool and each Loan Group;

            (xxvi) the aggregate amount of (i) Servicing Fees paid to the Master
      Servicer, (ii) the Servicing Fees paid to the Special Servicer, and (iii)
      Trustee Fees paid to the Trustee during the related Collection Period;

            (xxvii) the loan number for each Required Appraisal Mortgage Loan
      and any related Appraisal Reduction Amount as of the related Determination
      Date;

            (xxviii) the loan number for each Mortgage Loan which has
      experienced a breach of the representations and warranties, including
      identification of the applicable representation and warranty, given with
      respect to a Mortgage Loan by the applicable Mortgage Loan Seller, as
      provided by the Master Servicer or the Depositor;

            (xxix) the original and thereafter, the current credit support
      levels for each Class of Regular Certificates;

            (xxx) the original and thereafter, the current ratings for each
      Class of Regular Certificates;

            (xxxi) the aggregate amount of Prepayment Premiums and Yield
      Maintenance Charges with respect to the Mortgage Pool and each Loan Group
      collected during the related Collection Period;

            (xxxii) the amounts, if any, actually distributed with respect to
      the Class Z Certificates, Class R-I Certificates or Class R-II
      Certificates on such Distribution Date;

            (xxxiii) the value of any REO Property included in the Trust Fund as
      of the end of the related Collection Period, based on the most recent
      Appraisal or valuation; and

            (xxxiv) identification of any Mortgage Loan which has been
      substituted as a result of a breach of a representation and warranty.

            In the case of information to be furnished pursuant to clauses (i)
through (iv) above, the amounts shall be expressed as a dollar amount in the
aggregate for all Certificates of each applicable Class and per Single
Certificate. In the case of information provided to the Trustee as a basis for
information to be furnished pursuant to clauses (x) through (xiii), and (xxv)
and (xxxiii) above, insofar as the underlying information is solely within the
control of the Special Servicer, the Trustee and the Master Servicer may, absent
manifest error, conclusively rely on the reports to be provided by the Special
Servicer.

            The Trustee may rely on and shall not be responsible absent manifest
error for the content or accuracy of any information provided by third parties
for purposes of preparing the Distribution Date Statement and may affix thereto
any disclaimer it deems appropriate in its reasonable discretion (without
suggesting liability on the part of any other party hereto).

            The Trustee shall, and the Master Servicer may, but is not required
to, make available on or prior to the Distribution Date in each month to the
general public (i) the Distribution Date Statement via their respective Internet
Websites, (ii) as a convenience for interested parties, the Prospectus
Supplement, the Prospectus and this Agreement on the Trustee's and/or the Master
Servicer's respective Internet Websites and (iii) any other items at the request
of the Depositor via the Trustee's and/or the Master Servicer's respective
Internet Websites. In addition, the Trustee shall make available each month, on
each Distribution Date, the Unrestricted Servicer Reports, the CMSA Loan
Periodic Update File, the CMSA Loan Setup File, the CMSA Bond File, and the CMSA
Collateral Summary File to the general public on its Internet Website. The
Trustee shall make available each month, on each Distribution Date, (i) the
Restricted Servicer Reports, (ii) the CMSA Property File and the CMSA Financial
File and (iii) the CMSA Reconciliation of Funds Report to any Privileged Person
and to any other Person upon the direction of the Depositor.

            Absent manifest error, none of the Master Servicer or the Special
Servicer shall be responsible for the accuracy or completeness of any
information supplied to it by a Mortgagor or third party (including, without
limitation, the 2006-C28 Master Servicer, the 2006-C28 Special Servicer, the
2006-C28 Trustee and the 2006-C28 Co-Trustee) that is included in any reports,
statements, materials or information prepared or provided by the Master Servicer
or the Special Servicer, as applicable. The Trustee shall not be responsible
absent manifest error for the accuracy or completeness of any information
supplied to it for delivery pursuant to this Section 4.02(a). Neither the
Trustee, the Master Servicer nor the Special Servicer shall have any obligation
to verify the accuracy or completeness of any information provided by a
Mortgagor or third party (including, without limitation, the 2006-C28 Master
Servicer, the 2006-C28 Special Servicer, the 2006-C28 Trustee and the 2006-C28
Co-Trustee).

            Within a reasonable period of time after the end of each calendar
year, the Trustee shall, upon request, send to each Person who at any time
during the calendar year was a Certificateholder of record, a report summarizing
on an annual basis (if appropriate) the items provided to Certificateholders
pursuant to clauses (i), (ii), (iii) and (iv) of the description of
"Distribution Date Statement" above and such other information as may be
required to enable such Certificateholders to prepare their federal income tax
returns. Such information shall include the amount of original issue discount
accrued on each Class of Certificates and information regarding the expenses of
the Trust Fund. Such requirement shall be deemed to be satisfied to the extent
such information is provided pursuant to applicable requirements of the Code
from time to time in force.

            If any Certificate Owner does not receive through the Depository or
any of its Depository Participants any of the statements, reports and/or other
written information described above in this Section 4.02(a) that it would
otherwise be entitled to receive if it were the Holder of a Definitive
Certificate evidencing its ownership interest in the related Class of Book Entry
Certificates, then the Trustee shall mail or cause the mailing of or, provide
electronically or cause the provision electronically of, such statements,
reports and/or other written information to such Certificate Owner upon the
request of such Certificate Owner made in writing to the Corporate Trust Office
(accompanied by current verification of such Certificate Owner's ownership
interest). Such portion of such information as may be agreed upon by the
Depositor and the Trustee shall be furnished to any such Person via overnight
courier delivery or telecopy from the Trustee; provided that the cost of such
overnight courier delivery or telecopy shall be an expense of the party
requesting such information.

            The Trustee shall only be obligated to deliver the statements,
reports and information contemplated by this Section 4.02(a) to the extent it
receives the necessary underlying information from the Special Servicer or
Master Servicer, as applicable, and shall not be liable for any failure to
deliver any thereof on the prescribed due dates, to the extent caused by failure
to receive timely such underlying information. Nothing herein shall obligate the
Trustee or the Master Servicer to violate any applicable law prohibiting
disclosure of information with respect to any Mortgagor and the failure of the
Trustee, Master Servicer or the Special Servicer to disseminate information for
such reason shall not be a breach hereof.

            (b) Not later than 2:00 p.m. New York City time on the second
Business Day preceding each Distribution Date the Master Servicer shall furnish
to the Trustee, the Depositor, the Special Servicer and the Underwriters, by
electronic transmission (or in such other form to which the Trustee or the
Depositor, as the case may be, and the Master Servicer may agree), with a hard
copy (other than in the case of the Trustee) of such transmitted information to
follow promptly, an accurate and complete CMSA Loan Periodic Update File
providing the required information for the Mortgage Loans as of such
Determination Date. The Depositor shall provide the information necessary for
the CMSA Loan Setup File on the Closing Date. Not later than 2:00 p.m. New York
City time on the second Business Day preceding each Distribution Date, the
Master Servicer shall deliver to the Trustee notice of the Discount Rate
applicable to each Principal Prepayment received in the related Collection
Period.

            In the performance of its obligations set forth in Section 4.05, and
its other duties hereunder, the Trustee (including in its capacity as Paying
Agent) may conclusively rely on reports provided to it by the Master Servicer,
and the Trustee shall not be responsible to recompute, recalculate or verify the
information provided to it by the Master Servicer. In the case of information to
be furnished by the Master Servicer to the Trustee pursuant to this Section
4.02(b), insofar as such information is solely within the control of the Special
Servicer, 2006-C28 Master Servicer, the 2006-C28 Special Servicer, the 2006-C28
Trustee and the 2006-C28 Co-Trustee, the Master Servicer shall have no
obligation to provide such information until it has received such information
from such party, shall not be in default hereunder due to a delay in providing
the CMSA Loan Periodic Update File caused by the such party's failure to timely
provide any report required under this Agreement and may, absent manifest error,
conclusively rely on the reports to be provided by the such party.

            Section 4.03. P&I Advances.

            (a) On or before 1:30 p.m., New York City time, on each P&I Advance
Date, the Master Servicer shall (i) apply amounts in the Certificate Account
received after the end of the related Collection Period or otherwise held for
future distribution to Certificateholders in subsequent months in discharge of
its obligation to make P&I Advances or (ii) subject to Section 4.03(c) below,
remit from its own funds to the Paying Agent for deposit into the Distribution
Account, an amount equal to the aggregate amount of P&I Advances, if any, to be
made in respect of the related Distribution Date. The Master Servicer may also
make P&I Advances in the form of any combination of clauses (i) and (ii) above
aggregating the total amount of P&I Advances to be made. Any amounts held in the
Certificate Account for future distribution and so used to make P&I Advances
shall be appropriately reflected in the Master Servicer's records and replaced
by the Master Servicer by deposit in the Certificate Account on or before the
next succeeding Determination Date (to the extent not previously replaced
through the deposit of Late Collections of the delinquent principal and interest
in respect of which such P&I Advances were made). If, as of 3:00 p.m., New York
City time, on any P&I Advance Date, the Master Servicer shall not have made any
P&I Advance required to be made on such date pursuant to this Section 4.03(a)
(and shall not have delivered to the Trustee the requisite Officer's Certificate
and documentation related to a determination of nonrecoverability of a P&I
Advance), then the Trustee shall provide notice of such failure to a Servicing
Officer of the Master Servicer by facsimile transmission sent to telecopy (704)
715-0036 (or such alternative number provided by the Master Servicer to the
Trustee in writing) and by telephone at (704) 593-7836 or (704) 593-7867 (or
such alternative number provided by the Master Servicer to the Trustee in
writing) as soon as possible, but in any event before 4:00 p.m., New York City
time, on such P&I Advance Date. If the Trustee does not receive the full amount
of such P&I Advances by 10:00 a.m., New York City time, on the related
Distribution Date, then, subject to Section 4.03(c), (i) the Trustee shall, no
later than 11:00 a.m., New York City time, on such related Distribution Date
make the portion of such P&I Advances that was required to be, but was not, made
by the Master Servicer on such P&I Advance Date, and (ii) the provisions of
Sections 7.01 and 7.02 shall apply.

            (b) The aggregate amount of P&I Advances to be made by the Master
Servicer or the Trustee in respect of any Distribution Date shall, subject to
Section 4.03(c) and Section 4.03(e) below, equal the aggregate of all Periodic
Payments (other than Balloon Payments) and any Assumed Scheduled Payments, net
of related Servicing Fees (and, in the case of the 2006-C28 Serviced Mortgage
Loan, servicing fees due to the 2006-C28 Master Servicer to the extent not so
otherwise paid pursuant to the related Intercreditor Agreement) due or deemed
due, as the case may be, in respect of the Mortgage Loans (including, without
limitation, Balloon Mortgage Loans delinquent as to their respective Balloon
Payments) and any REO Loans on their respective Due Dates during (or deemed to
be during) the related Collection Period (i) in each case (other than with
respect to the 2006-C28 Serviced Mortgage Loan), to the extent such amount was
not paid by or on behalf of the related Mortgagor or otherwise collected
(including as net income from REO Properties) as of the close of business on the
last day of related Collection Period or (ii) in each case with respect to the
2006-C28 Serviced Mortgage Loan, to the extent such amount was required to be
advanced by the 2006-C28 Master Servicer pursuant to the 2006-C28 Pooling and
Servicing Agreement and the 2006-C28 Master Servicer failed to make such
advance, the Master Servicer shall be required to make such P&I Advance only to
the extent that the Master Servicer has received all information necessary to
determine whether such P&I Advance is a Nonrecoverable Advance; provided that
(x) if the Periodic Payment on any Mortgage Loan has been reduced in connection
with a bankruptcy or similar proceeding involving the related Mortgagor or a
modification, waiver or amendment granted or agreed to by the Special Servicer
pursuant to Section 3.20, or if the final maturity on any Mortgage Loan shall be
extended in connection with a bankruptcy or similar proceeding involving the
related Mortgagor or a modification, waiver or amendment granted or agreed to by
the Special Servicer pursuant to Section 3.20, and the Periodic Payment due and
owing during the extension period is less than the related Assumed Scheduled
Payment, then the Master Servicer or the Trustee shall, as to such Mortgage Loan
only, advance only the amount of the Periodic Payment due and owing after taking
into account such reduction (net of related Servicing Fees) in the event of
subsequent delinquencies thereon; and (y) if it is determined that an Appraisal
Reduction Amount exists with respect to any Required Appraisal Mortgage Loan,
then, with respect to the Distribution Date immediately following the date of
such determination and with respect to each subsequent Distribution Date for so
long as such Appraisal Reduction Amount exists with respect to such Required
Appraisal Mortgage Loan, the Master Servicer or the Trustee will be required in
the event of subsequent delinquencies to advance in respect of such Mortgage
Loan only an amount equal to the sum of (A) the amount of the interest portion
of the P&I Advance that would otherwise be required without regard to this
clause (y), minus the product of (1) such Appraisal Reduction Amount and (2) the
per annum Pass-Through Rate (i.e., for any month, one-twelfth of the
Pass-Through Rate) applicable to the Class of Certificates to which such
Appraisal Reduction Amount is allocated pursuant to Section 4.04(d) and (B) the
amount of the principal portion of the P&I Advance that would otherwise be
required without regard to this clause (y).

            (c) Notwithstanding anything herein to the contrary, no P&I Advance
shall be required to be made hereunder if such P&I Advance would, if made,
constitute a Nonrecoverable P&I Advance. The determination by the Master
Servicer or the Special Servicer that the Master Servicer has made a
Nonrecoverable P&I Advance or that any proposed P&I Advance, if made, would
constitute a Nonrecoverable P&I Advance, shall be evidenced by an Officer's
Certificate delivered to the Trustee and the Depositor on or before the related
P&I Advance Date, setting forth the basis for such determination, together with
any other information, including Appraisals (the cost of which may be paid out
of the Certificate Account pursuant to Section 3.05(a)) (or, if no such
Appraisal has been performed pursuant to this Section 4.03(c), a copy of an
Appraisal of the related Mortgaged Property performed within the twelve months
preceding such determination), related Mortgagor operating statements and
financial statements, budgets and rent rolls of the related Mortgaged
Properties, engineers' reports, environmental surveys and any similar reports
that the Master Servicer may have obtained consistent with the Servicing
Standard and at the expense of the Trust Fund, that support such determination
by the Master Servicer or the Special Servicer. As soon as reasonably practical
after making such determination, the Special Servicer shall report to the Master
Servicer the Special Servicer's determination as to whether each P&I Advance
made with respect to any previous Distribution Date or required to be made with
respect to such Distribution Date with respect to any Specially Serviced
Mortgage Loan or REO Loan is a Nonrecoverable P&I Advance. The Master Servicer
shall be entitled to conclusively rely on such determination by the Special
Servicer. The Trustee shall be entitled to rely, conclusively, on any
determination by the Master Servicer or the Special Servicer that a P&I Advance,
if made, would be a Nonrecoverable Advance (and with respect to a P&I Advance,
the Trustee shall rely on the Master Servicer's determination that the P&I
Advance would be a Nonrecoverable Advance if the Trustee determines that it does
not have sufficient time to make such determination); provided, however, if the
Master Servicer has failed to make a P&I Advance for reasons other than a
determination by the Master Servicer or the Special Servicer that such P&I
Advance would be Nonrecoverable Advance, the Trustee shall make such Advance
within the time periods required by Section 4.03(a) unless the Trustee, in
accordance with the standard of care set forth in Section 8.01(a), makes a
determination prior to the times specified in Section 4.03(a) that such P&I
Advance would be a Nonrecoverable Advance. The Trustee, in determining whether
or not a P&I Advance previously made is, or a proposed P&I Advance, if made,
would be, a Nonrecoverable Advance shall be subject to the standards set forth
in Section 8.01(a) hereunder, including utilizing its good faith business
judgment to make such determination.

            (d) In connection with the recovery by the Master Servicer or the
Trustee of any P&I Advance out of the Certificate Account pursuant to Section
3.05(a), subject to the next sentence, the Master Servicer shall be entitled to
pay itself or the Trustee, as the case may be, out of any amounts then on
deposit in the Certificate Account, interest at the Reimbursement Rate in effect
from time to time, compounded annually, accrued on the amount of such P&I
Advance (to the extent made with its own funds) from the date made (provided,
however, no such interest shall accrue during any grace period under a Mortgage
Loan) to but not including the date of reimbursement, such interest to be
payable, subject to the terms of the related Intercreditor Agreement with
respect to the related Loan Pair, first out of late payment charges and Penalty
Interest received on the related Mortgage Loan or REO Property during the
Collection Period in which such reimbursement is made and then from general
collections on the Mortgage Loans then on deposit in the Certificate Account.
The Master Servicer shall reimburse itself or the Trustee, as applicable, for
any outstanding P&I Advance made thereby as soon as practicable after funds
available for such purpose have been received by the Master Servicer, and in no
event shall interest accrue in accordance with this Section 4.03(d) on any P&I
Advance as to which the corresponding payment of principal and interest or Late
Collection was received by the Master Servicer on or prior to the related P&I
Advance Date.

            (e) In no event shall the Master Servicer or the Trustee make a P&I
Advance with respect to any Companion Loan.

            Section 4.04. Allocation of Realized Losses and Additional Trust
Fund Expenses; Allocation of Certificate Deferred Interest; Allocation of
Appraisal Reduction Amounts.

            (a) On each Distribution Date, following all distributions to be
made on such date pursuant to Section 4.01, the Paying Agent shall allocate to
the respective Classes of Sequential Pay Certificates the aggregate of all
Realized Losses and Additional Trust Fund Expenses that were incurred at any
time following the Cut-Off Date through the end of the related Collection Period
and in any event that were not previously allocated pursuant to this Section
4.04(a) on any prior Distribution Date, but only to the extent that (i) the
aggregate Certificate Principal Balance of the Sequential Pay Certificates as of
such Distribution Date (after taking into account all of the distributions made
on such Distribution Date pursuant to Section 4.01), exceeds (ii) the aggregate
Stated Principal Balance of the Mortgage Pool that will be outstanding
immediately following such Distribution Date (for purposes of this calculation
only, not giving effect to any reductions of the Stated Principal Balance for
payments of principal collected on the Mortgage Loans that were used to
reimburse any Nonrecoverable Advances, to the extent a Final Recovery
Determination has not been made with respect thereto, and Workout-Delayed
Reimbursement Amounts pursuant to Sections 3.05(a)(vii) and (viii) hereof):
first, to the Class Q Certificates, until the remaining Class Principal Balance
thereof has been reduced to zero; second, to the Class P Certificates, until the
remaining Class Principal Balance thereof has been reduced to zero; third, to
the Class O Certificates, until the remaining Class Principal Balance thereof
has been reduced to zero; fourth, to the Class N Certificates, until the
remaining Class Principal Balance thereof has been reduced to zero; fifth, to
the Class M Certificates, until the remaining Class Principal Balance thereof
has been reduced to zero; sixth, to the Class L Certificates, until the
remaining Class Principal Balance thereof has been reduced to zero; seventh, to
the Class K Certificates, until the remaining Class Principal Balance thereof
has been reduced to zero; eighth, to the Class J Certificates, until the
remaining Class Principal Balance thereof has been reduced to zero; ninth, to
the Class H Certificates, until the remaining Class Principal Balance thereof
has been reduced to zero; tenth, to the Class G Certificates, until the
remaining Class Principal Balance thereof has been reduced to zero; eleventh, to
the Class F Certificates, until the remaining Class Principal Balance thereof
has been reduced to zero; twelfth, to the Class E Certificates, until the
remaining Class Principal Balance thereof has been reduced to zero; thirteenth,
to the Class D Certificates, until the remaining Class Principal Balance thereof
has been reduced to zero; fourteenth to the Class C Certificates, until the
remaining Class Principal Balance thereof has been reduced to zero; fifteenth,
to the Class B Certificates, until the remaining Class Principal Balance thereof
has been reduced to zero; sixteenth to the Class A-J Certificates, until the
remaining Class Principal Balance thereof has been reduced to zero; seventeenth
to the Class A-M Certificates, until the remaining Class Principal Balance
thereof has been reduced to zero; and eighteenth, pro rata (based on remaining
Class Principal Balances) to the Class A-1 Certificates, the Class A-2
Certificates, the Class A-3 Certificates, the Class A-PB Certificates, the Class
A-4 Certificates and the Class A-1A Certificates, until the Class Principal
Balances thereof are reduced to zero. Any allocation of Realized Losses and
Additional Trust Fund Expenses to a Class of Regular Certificates shall be made
by reducing the Class Principal Balances thereof by the amount so allocated. All
Realized Losses and Additional Trust Fund Expenses, if any, allocated to a Class
of Regular Certificates shall be allocated among the respective Certificates of
such Class in proportion to the Percentage Interests evidenced thereby. All
Realized Losses and Additional Trust Fund Expenses, if any, that have not been
allocated to the Regular Certificates as of the Distribution Date on which the
aggregate Certificate Principal Balance of such Regular Certificates have been
reduced to zero, shall be deemed allocated to the Residual Certificates.

            (b) On each Distribution Date, following the deemed distributions of
principal or reimbursement of previously allocated Realized Losses and
Additional Trust Fund Expenses made in respect of the REMIC I Regular Interests
pursuant to Section 4.01(i), the REMIC I Principal Balance of the Corresponding
REMIC I Regular Interests (after taking account of such deemed distributions)
shall be reduced as a result of Realized Losses and Additional Trust Fund
Expenses to equal the Class Principal Balance of the Corresponding Certificates
that will be outstanding immediately following such Distribution Date.

            (c) On any Distribution Date, the amount of any Mortgage Deferred
Interest will be allocated as Certificate Deferred Interest to each outstanding
Class of Sequential Pay Certificates in reverse order of priorities (except with
respect to the Class A-1, Class A-2, Class A-3, Class A-PB, Class A-4 and Class
A-1A Certificates, which amounts shall be applied pro rata (based on remaining
Class Principal Balances) to such Certificates), in each case up to the
respective Accrued Certificate Interest for each such Class of Certificates for
such Distribution Date. On each such Distribution Date, the Certificate
Principal Balance of each Class of Certificates to which Certificate Deferred
Interest has been allocated shall be increased by the amount of Certificate
Deferred Interest allocated to such Class of Certificates. The amount of
Certificate Deferred Interest allocated to any Class of Sequential Pay
Certificates shall be allocated to, and will increase the REMIC I Principal
Balances of the Corresponding REMIC I Regular Interest in reverse order of
priority specified for deemed distributions of principal in Section 4.01(h);
provided, however, with respect to the Class A-1, Class A-2, Class A-3, Class
A-PB, Class A-4 and Class A-1A Certificates, allocations to the Corresponding
REMIC I Regular Interests shall be made on a pro rata basis.

            (d) Any Appraisal Reduction Amounts shall be allocated only for
purposes of determining the amount of P&I Advances with respect to the related
Mortgage Loan, as follows: to the Class Principal Balance of the Class Q, Class
P, Class O, Class N, Class M, Class L, Class K, Class J, Class H, Class G, Class
F, Class E, Class D, Class C, Class B, Class A-J and Class A-M Certificates, in
that order, up to the amount of their respective Class Principal Balances, and
then to the Class A Certificates on a pro rata basis; provided, however, with
respect to any Appraisal Reduction Amount relating to a Co-Lender Loan (other
than the Centro Syndicate 2 Pool Loan, the Centro International Wholesale Pool
Loan and the Newport Bluffs Loan), such Appraisal Reduction Amount will be
applied, first to the Subordinate Companion Loans from the most junior to the
most senior and then, to the related Co-Lender Loan. With respect to any
Appraisal Reduction Amount relating to the Centro Syndicate 2 Pool Loan in the
event the Centro Syndicate 2 Pool Future Pari Passu Companion Loan is advanced,
such Appraisal Reduction Amount shall be applied pro rata between the Centro
Syndicate 2 Pool Loan and the Centro Syndicate 2 Pool Future Pari Passu
Companion Loan. With respect to any Appraisal Reduction Amount relating to the
Centro International Wholesale Pool Loan in the event the Centro International
Wholesale Pool Future Pari Passu Companion Loan is advanced, such Appraisal
Reduction Amount shall be applied pro rata between the Centro International
Wholesale Pool Loan and the Centro International Wholesale Pool Future Pari
Passu Companion Loan. On any Distribution Date, an Appraisal Reduction Amount
that otherwise would be allocated to a Class of Certificates shall be allocated
to the next most subordinate Class to the extent that the Class Principal
Balance on such Distribution Date for such Class of Certificates (prior to
taking the Appraisal Reduction Amount into account) is less than the Appraisal
Reduction Amount for the Distribution Date. The Master Servicer shall report to
the Trustee on or before each Determination Date all Appraisal Reduction Amounts
and the Trustee shall report to the Master Servicer no later than 10:00 a.m. on
the related P&I Advance Date the Pass-Through Rates necessary to calculate the
allocation required by this Section 4.04(d).

            Section 4.05. Calculations.

            The Paying Agent shall, provided it receives the necessary
information from the Master Servicer and the Special Servicer, be responsible
for performing all calculations necessary in connection with the actual and
deemed distributions and allocations to be made pursuant to Section 4.01,
Section 5.02(d) and Article IX and the actual and deemed allocations of Realized
Losses and Additional Trust Fund Expenses to be made pursuant to Section 4.04.
The Paying Agent shall calculate the Available Distribution Amount for each
Distribution Date and shall allocate such amount among Certificateholders in
accordance with this Agreement, and the Paying Agent shall have no obligation to
recompute, recalculate or verify any information provided to it by the Special
Servicer or Master Servicer. The calculations by the Paying Agent of such
amounts shall, in the absence of manifest error, be presumptively deemed to be
correct for all purposes hereunder.

            Section 4.06. Use of Agents.

            The Master Servicer or the Trustee may at its own expense utilize
agents or attorneys-in-fact in performing any of its obligations under this
Article IV (except the obligation to make P&I Advances), but no such utilization
shall relieve the Master Servicer or the Trustee from any of such obligations or
liabilities, and the Master Servicer or the Trustee, as applicable, shall remain
responsible for all acts and omissions of any such agent or attorney-in-fact
(other than with respect to limited powers-of-attorney delivered by the Trustee
to the Master Servicer or Special Servicer pursuant to Section 2.03(b) and
3.01(b), as applicable, in which case the Trustee shall have no such
responsibility).

                                    ARTICLE V

                                THE CERTIFICATES

            Section 5.01. The Certificates.

            (a) The Certificates will be substantially in the respective forms
attached hereto as Exhibit A; provided that any of the Certificates may be
issued with appropriate insertions, omissions, substitutions and variations, and
may have imprinted or otherwise reproduced thereon such legend or legends, not
inconsistent with the provisions of this Agreement, as may be required to comply
with any law or with rules or regulations pursuant thereto, or with the rules of
any securities market in which the Certificates are admitted to trading, or to
conform to general usage. The Certificates will be issuable in registered form
only; provided, however, in accordance with Section 5.03 beneficial ownership
interests in the Regular Certificates shall initially be held and transferred
through the book-entry facilities of the Depository. The Regular Certificates
will be issuable only in denominations corresponding to initial Certificate
Principal Balances or initial Certificate Notional Amounts, as the case may be,
as of the Closing Date of not less than $10,000 in the case of the Registered
Certificates, $1,000,000 in the case of the Class IO Certificates, and $250,000
in the case of Non-Registered Certificates (other than the Residual Certificates
and the Class IO Certificates), and in each such case in integral multiples of
$1 in excess thereof. The Class Z Certificates, Class R-I Certificates and the
Class R-II Certificates shall have no minimum denomination and shall each be
represented by a single definitive certificate.

            (b) The Certificates shall be executed by manual or facsimile
signature on behalf of the Trustee by the Certificate Registrar hereunder by an
authorized signatory. Certificates bearing the manual or facsimile signatures of
individuals who were at any time the authorized signatories of the Certificate
Registrar shall be entitled to all benefits under this Agreement, subject to the
following sentence, notwithstanding that such individuals or any of them have
ceased to hold such offices prior to the authentication and delivery of such
Certificates or did not hold such offices at the date of such Certificates. No
Certificate shall be entitled to any benefit under this Agreement, or be valid
for any purpose, however, unless there appears on such Certificate a certificate
of authentication substantially in the form provided for herein executed by the
Authenticating Agent by manual signature, and such certificate of authentication
upon any Certificate shall be conclusive evidence, and the only evidence, that
such Certificate has been duly authenticated and delivered hereunder. All
Certificates shall be dated the date of their authentication.

            Section 5.02. Registration, Transfer and Exchange of Certificates.

            (a) At all times during the term of this Agreement, there shall be
maintained at the office of the Certificate Registrar a Certificate Register in
which, subject to such reasonable regulations as the Certificate Registrar may
prescribe, the Certificate Registrar (located as of the Closing Date at the
Corporate Trust Office), shall provide for the registration of Certificates and
of transfers and exchanges of Certificates as herein provided. The Certificate
Register shall contain the aggregate holdings of Certificates represented by
each Regulation S Global Certificate and each Domestic Global Certificate. The
Trustee is hereby initially appointed (and hereby agrees to act in accordance
with the terms hereof) as Certificate Registrar for the purpose of registering
Certificates and transfers and exchanges of Certificates as herein provided. The
Certificate Registrar may appoint, by a written instrument delivered to the
Depositor, the Trustee, the Special Servicer and the Master Servicer, any other
bank or trust company to act as Certificate Registrar under such conditions as
the predecessor Certificate Registrar may prescribe; provided that the
predecessor Certificate Registrar shall not be relieved of any of its duties or
responsibilities hereunder by reason of such appointment. If the Trustee resigns
or is removed in accordance with the terms hereof, the successor trustee shall
immediately succeed to its duties as Certificate Registrar. The Depositor, the
Trustee (if it is no longer the Certificate Registrar), the Master Servicer and
the Special Servicer shall have the right to inspect the Certificate Register or
to obtain a copy thereof at all reasonable times, and to rely conclusively upon
a certificate of the Certificate Registrar as to the information set forth in
the Certificate Register. Upon written request of any Certificateholder made for
purposes of communicating with other Certificateholders with respect to their
rights under this Agreement, the Certificate Registrar shall promptly furnish
such Certificateholder with a list of the other Certificateholders of record
identified in the Certificate Register at the time of the request.

            (b) No transfer of any Non-Registered Certificate shall be made
unless that transfer is made pursuant to an effective registration statement
under the Securities Act, and effective registration or qualification under
applicable state securities laws, or is made in a transaction that does not
require such registration or qualification. If such a transfer is to be made
without registration under the Securities Act (other than in connection with the
initial issuance thereof or the initial transfer thereof by the Depositor, the
Initial Purchasers or their respective Affiliates), then the Certificate
Registrar shall refuse to register such transfer unless it receives (and upon
receipt, may conclusively rely upon) either: (i) a certificate from the
Certificateholder desiring to effect such transfer substantially in the form
attached as Exhibit F-1 hereto, and a certificate from such Certificateholder's
prospective transferee substantially in the form attached as either Exhibit F-2
hereto, Exhibit F-3 hereto, Exhibit F-4 hereto, Exhibit F-5 hereto or Exhibit
F-6 hereto; or (ii) an Opinion of Counsel reasonably satisfactory to the
Certificate Registrar to the effect that such transfer may be made without
registration under the Securities Act (which Opinion of Counsel shall not be an
expense of the Trust Fund or of the Depositor, the Master Servicer, the Special
Servicer, the Trustee or the Certificate Registrar in their respective
capacities as such), together with the written certification(s) as to the facts
surrounding such transfer from the Certificateholder desiring to effect such
transfer and/or such Certificateholder's prospective transferee on which such
Opinion of Counsel is based. None of the Depositor, the Trustee or the
Certificate Registrar is obligated to register or qualify any Class of
Non-Registered Certificates under the Securities Act or any other securities law
or to take any action not otherwise required under this Agreement to permit the
transfer of any Non-Registered Certificate without registration or
qualification. Any Holder of a Non-Registered Certificate desiring to effect
such a transfer shall, and upon acquisition of such a Certificate shall be
deemed to have agreed to, indemnify the Trustee, the Certificate Registrar and
the Depositor against any liability that may result if the transfer is not so
exempt or is not made in accordance with such federal and state laws.

            In connection with transfer of the Non-Registered Certificates, the
Depositor shall furnish upon request of a Certificateholder or Certificate Owner
to such Holder or Certificate Owner and any prospective purchaser designated by
such Certificateholder or Certificate Owner the information required to be
delivered under paragraph (d)(4) of Rule 144A of the Securities Act.

            Notwithstanding the foregoing, for so long as any Non-Registered
Certificate is a Book-Entry Certificate, (a) each prospective transferor of such
Certificate shall be deemed to have represented to the Trustee, the Depositor
and the transferee of such Certificate the information set forth on Exhibit F-1
upon or prior to such transfer and (b) each prospective transferee of such
Certificate shall be deemed to have represented to the Trustee, the Depositor
and the transferor of such Certificate the information set forth on Exhibit F-2,
Exhibit F-3, Exhibit F-4, Exhibit F-5 or Exhibit F-6, as applicable, upon or
prior to such transfer. In addition, if such prospective transferee is an
Institutional Accredited Investor (but not also a Qualified Institutional
Buyer), such prospective transferee shall be deemed to have acknowledged that
any beneficial interest in a Book-Entry Certificate that is transferred to it is
required to be delivered in the form of a Definitive Certificate and shall cease
to be an interest in such Book-Entry Certificate and, thereafter, shall be
subject to all transfer restrictions and other procedures applicable to
Certificates in definitive form.

            (c) No transfer of a Certificate or any interest therein shall be
made to any "employee benefit plan" subject to Title I of ERISA, any "plan"
subject to Section 4975 of the Code or any other retirement plan or other
employee benefit plan or arrangement subject to applicable federal, state or
local law ("Similar Law") materially similar to the foregoing provisions of
ERISA or the Code, or any entity deemed to hold plan assets of the foregoing by
reason of such a plan's investment in such entity (each, a "Plan") unless (A) in
the case of a Certificate other than a Residual Certificate or a Class Z
Certificate, the transferee is an insurance company general account which is
eligible for, and satisfies all the requirements of, exemptive relief under
Sections I and III of Department of Labor Prohibited Transaction Class Exemption
95-60 ("PTE 95-60") or (B) in the case of a Certificate other than an ERISA
Restricted Certificate, a Residual Certificate or a Class Z Certificate, the
transferee (1) qualifies as an accredited investor as defined in Rule 501(a)(1)
of Regulation D under the Securities Act and (2) satisfies all the requirements
of the Exemptions as in effect at the time of such transfer. Each Person who
acquires a Certificate in Definitive Certificate form shall be required to
certify in writing in the form attached as Exhibit G hereto that it meets the
foregoing conditions and that it will not transfer such Certificate in violation
of the foregoing, and each Person who acquires a Certificate in Book-Entry
Certificate form shall be deemed to have represented that the foregoing
conditions are satisfied and that it will not transfer such Certificate in
violation of the foregoing.

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

                  (A)   Each Person holding or acquiring any Ownership Interest
                        in a Residual Certificate shall be a Permitted
                        Transferee and shall promptly notify the Master
                        Servicer, the Paying Agent and the Certificate Registrar
                        of any change or impending change in its status as a
                        Permitted Transferee.

                  (B)   In connection with any proposed Transfer of any
                        Ownership Interest in a Residual Certificate, the
                        Certificate Registrar shall require delivery to it, and
                        shall not register the Transfer of any Residual
                        Certificate until its receipt of an affidavit and
                        agreement substantially in the form attached hereto as
                        Exhibit H-1 (a "Transfer Affidavit and Agreement"), from
                        the proposed Transferee, in form and substance
                        satisfactory to the Certificate Registrar, and upon
                        which the Certificate Registrar may, in the absence of
                        actual knowledge by a Responsible Officer of either the
                        Trustee or the Certificate Registrar to the contrary,
                        conclusively rely, representing and warranting, among
                        other things, that such Transferee is a Permitted
                        Transferee; that it is not acquiring its Ownership
                        Interest in the Residual Certificate that is the subject
                        of the proposed Transfer as a nominee, trustee or agent
                        for any Person that is not a Permitted Transferee; that
                        for so long as it retains its Ownership Interest in a
                        Residual Certificate, it will endeavor to remain a
                        Permitted Transferee; that it has historically paid its
                        debts as they have come due, intends to pay its debts as
                        they come due in the future and intends to pay all taxes
                        associated with the Residual Certificate as they come
                        due; and that it has reviewed the provisions of this
                        Section 5.02(d) and agrees to be bound by them.

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

                  (D)   Each Person holding or acquiring any Ownership Interest
                        in a Residual Certificate shall agree (a) to require a
                        Transfer Affidavit and Agreement from any prospective
                        Transferee to whom such Person attempts to transfer its
                        Ownership Interest in such Residual Certificate and (b)
                        not to transfer its Ownership Interest in such Residual
                        Certificate unless it provides to the Certificate
                        Registrar a certificate substantially in the form
                        attached hereto as Exhibit H-2 stating that, among other
                        things, it has no actual knowledge that such prospective
                        Transferee is not a Permitted Transferee.

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

                  (F)   Persons who have an ongoing relationship with the
                        Teachers' Retirement System of the State of Illinois,
                        which is a governmental plan, should note that this plan
                        owns an equity interest in the Mortgagor under the
                        Galleria at Tyler Loan. Such persons should consult with
                        counsel regarding whether this relationship would affect
                        their ability to purchase and hold Certificates.

            (i) (A) If any purported Transferee shall become a Holder of a
      Residual Certificate in violation of the provisions of this Section
      5.02(d), then the last preceding Holder of such Residual Certificate that
      was in compliance with the provisions of this Section 5.02(d) shall be
      restored, to the extent permitted by law, to all rights as Holder thereof
      retroactive to the date of registration of such Transfer of such Residual
      Certificate. None of the Trustee, the Master Servicer or the Certificate
      Registrar shall be under any liability to any Person for any registration
      of Transfer of a Residual Certificate that is in fact not permitted by
      this Section 5.02(d) or for making any payments due on such Certificate to
      the Holder thereof or for taking any other action with respect to such
      Holder under the provisions of this Agreement.

                  (B)   If any purported Transferee shall become a Holder of a
                        Residual Certificate in violation of the restrictions in
                        this Section 5.02(d), then, to the extent that the
                        retroactive restoration of the rights of the preceding
                        Holder of such Residual Certificate as described in
                        clause (ii)(A) above shall be invalid, illegal or
                        unenforceable, the Certificate Registrar shall have the
                        right, without notice to the Holder or any prior Holder
                        of such Residual Certificate, to cause the transfer of
                        such Residual Certificate to a Permitted Transferee on
                        such terms as the Certificate Registrar may choose. Such
                        purported Transferee shall promptly endorse and deliver
                        such Residual Certificate in accordance with the
                        instructions of the Certificate Registrar. Such
                        Permitted Transferee may be the Certificate Registrar
                        itself or any Affiliate of the Certificate Registrar.
                        Any proceeds of such sale, net of the commissions (which
                        may include commissions payable to the Certificate
                        Registrar or its Affiliates), expenses and taxes due, if
                        any, will be remitted by the Paying Agent to such
                        purported Transferee. The terms and conditions of any
                        sale under this clause (ii)(B) shall be determined in
                        the sole discretion of the Certificate Registrar, and
                        the Certificate Registrar shall not be liable to any
                        Person having an Ownership Interest in a Residual
                        Certificate as a result of its exercise of such
                        discretion.

            (ii) The Certificate Registrar shall make available to the Internal
      Revenue Service and to those Persons specified by the REMIC Provisions any
      information available to it which is necessary to compute any tax imposed
      as a result of the Transfer of an Ownership Interest in a Residual
      Certificate to any Person who is a Disqualified Organization or agent
      thereof, including the information described in Treasury Regulations
      Sections 1.860D-1(b)(5) and 1.860E-2(a)(5) with respect to the "excess
      inclusions" of such Residual Certificate, and the Master Servicer and the
      Special Servicer shall furnish to the Certificate Registrar all
      information in its possession necessary for the Certificate Registrar to
      discharge such obligation. The transferor of such Ownership Interest shall
      be responsible for the reasonable compensation of the Certificate
      Registrar, the Master Servicer and the Special Servicer for providing such
      information.

            (iii) The provisions of this Section 5.02(d) set forth prior to this
      clause (iv) may be modified, added to or eliminated; provided that there
      shall have been delivered to the Certificate Registrar and the Master
      Servicer the following:

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

                  (B)   an Opinion of Counsel, in form and substance
                        satisfactory to the Certificate Registrar and the Master
                        Servicer, obtained at the expense of the party seeking
                        such modification of, addition to or elimination of such
                        provisions (but in no event at the expense of the Trust
                        Fund), to the effect that doing so will not cause either
                        of REMIC I or REMIC II to (x) cease to qualify as a
                        REMIC or (y) be subject to an entity-level tax caused by
                        the Transfer of any Residual Certificate to a Person
                        which is not a Permitted Transferee, or cause a Person
                        other than the prospective Transferee to be subject to a
                        REMIC-related tax caused by the Transfer of a Residual
                        Certificate to a Person that is not a Permitted
                        Transferee.

            (e) No interest in the Regulation S Global Certificates may be held
by or transferred to a U.S. Person (as defined in Regulation S) except for
exchanges for a beneficial interest in a Domestic Global Certificate or a
Definitive Certificate as described below. Any beneficial interest in a
Regulation S Global Certificate that is transferred to a U.S. Person that is an
institutional "accredited investor" (which is not a QIB) is required to be
delivered in the form of a definitive certificate and will cease to be an
interest in such Regulation S Global Certificate and, thereafter, will be
subject to all transfer restrictions and other procedures applicable to
Certificates in definitive form described below. Notwithstanding the foregoing,
no transfer of a beneficial interest in a Regulation S Global Certificate to a
Definitive Certificate as described below will be made prior to the Release
Date.

            (i) Any holder of an interest in a Regulation S Global Certificate
      in respect of the Certificates will have the right, upon prior written
      notice to the Depositor, the Trustee, Euroclear or Clearstream, as
      applicable, and DTC, in the form of the Exchange Certificate, to exchange
      all or a portion of such interest for an equivalent interest in a Domestic
      Global Certificate in connection with a transfer of its interest therein
      to a transferee that is eligible to hold an interest in a Domestic Global
      Certificate as described herein. Any holder of an interest in a Domestic
      Global Certificate shall have the right, upon prior written notice to the
      Depositor, the Trustee, DTC and Euroclear or Clearstream, as applicable,
      in the form of the Exchange Certificate to exchange all or a portion of
      such interest for an equivalent interest in a Regulation S Global
      Certificate in connection with a transfer of its interest therein to a
      transferee that is eligible to hold an interest in a Regulation S Global
      Certificate as set forth herein. The Exchange Certificate will specify the
      denomination of the Certificates to be exchanged. The Exchange Certificate
      will also contain a representation that the transfer is being made in a
      transaction meeting the requirements of this Agreement and Rule 144A or
      Regulation S, as the case may be. Following receipt of any Exchange
      Certificate by the Trustee, (i) the Trustee will endorse the schedule to
      any Global Certificate representing the Certificate or Certificates being
      exchanged to reduce the stated principal amount of such Global Certificate
      by the denominations of the Certificate or Certificates for which such
      exchange is to be made and (ii) the Trustee will endorse the schedule to
      any Global Certificate representing the Certificate or Certificates for
      which such exchange is to be made to increase the stated principal amount
      of such Global Certificate by the denominations of the Certificate or
      Certificates being exchanged therefor.

            (ii) Investors may hold their interests in a Regulation S Global
      Certificate through Euroclear or Clearstream, if they are participants in
      such systems, or indirectly through organizations that are participants in
      such systems. After the end of the Restricted Period, investors may also
      hold such interests through organizations that have accounts with DTC
      other than Euroclear and Clearstream (the "DTC Participants"). Euroclear
      and Clearstream will hold interests in a Regulation S Global Certificate
      on behalf of their participants through customers' securities accounts in
      their respective names on the books of their respective depositaries,
      which in turn will hold such interests in a Regulation S Global
      Certificate in customers' securities accounts in the depositaries' names
      on the books of DTC. Clearstream and Euroclear will from time to time
      appoint financial institutions to act as depositary for such entities.
      Investors may hold their interests in a Domestic Global Certificate
      directly through DTC, if they are DTC Participants, or indirectly through
      organizations which are DTC Participants.

            (f) Subject to the preceding provisions of this Section 5.02, upon
      surrender for registration of transfer of any Certificate at the offices
      of the Certificate Registrar maintained for such purpose, the Certificate
      Registrar shall execute and the Authenticating Agent shall authenticate
      and deliver, in the name of the designated transferee or transferees, one
      or more new Certificates of the same Class of a like aggregate Percentage
      Interest.

            (g) At the option of any Holder, its Certificates may be exchanged
      for other Certificates of authorized denominations of the same Class of a
      like aggregate Percentage Interest, upon surrender of the Certificates to
      be exchanged at the offices of the Certificate Registrar maintained for
      such purpose. Whenever any Certificates are so surrendered for exchange,
      the Certificate Registrar shall execute and the Authenticating Agent shall
      authenticate and deliver the Certificates which the Certificateholder
      making the exchange is entitled to receive.

            (h) Every Certificate presented or surrendered for transfer or
      exchange shall (if so required by the Certificate Registrar) be duly
      endorsed by, or be accompanied by a written instrument of transfer in the
      form satisfactory to the Certificate Registrar duly executed by, the
      Holder thereof or his attorney duly authorized in writing.

            (i) No service charge shall be imposed for any transfer or exchange
      of Certificates, but the Certificate Registrar may require payment of a
      sum sufficient to cover any tax or other governmental charge that may be
      imposed in connection with any transfer or exchange of Certificates.

            (j) All Certificates surrendered for transfer and exchange shall be
      physically canceled by the Certificate Registrar, and the Certificate
      Registrar shall dispose of such canceled Certificates in accordance with
      its standard procedures.

            (k) Upon request, the Certificate Registrar shall provide to the
      Master Servicer, the Special Servicer and the Depositor notice of each
      transfer of a Certificate and shall provide to each such Person with an
      updated copy of the Certificate Register.

            (l) Each Person who has or who acquires any Ownership Interest in a
      Certificate shall be deemed by the acceptance or acquisition of such
      Ownership Interest to have agreed to be bound by the provisions of any
      Intercreditor Agreement affecting such Certificate.

            Section 5.03. Book-Entry Certificates.

            (a) Each Class of Regular Certificates shall initially be issued as
one or more Certificates registered in the name of the Depository or its nominee
and, except as provided in Section 5.03(c) below, transfer of such Certificates
may not be registered by the Certificate Registrar unless such transfer is to a
successor Depository that agrees to hold such Certificates for the respective
Certificate Owners with Ownership Interests therein. Such Certificate Owners
shall hold and transfer their respective Ownership Interests in and to such
Certificates through the book-entry facilities of the Depository and, except as
provided in Section 5.03(c) below, shall not be entitled to definitive, fully
registered Certificates ("Definitive Certificates") in respect of such Ownership
Interests. All transfers by Certificate Owners of their respective Ownership
Interests in the Book-Entry Certificates shall be made in accordance with the
procedures established by the Depository Participant or brokerage firm
representing each such Certificate Owner. Each Depository Participant shall only
transfer the Ownership Interests in the Book-Entry Certificates of Certificate
Owners it represents or of brokerage firms for which it acts as agent in
accordance with the Depository's normal procedures.

            (b) The Trustee, the Master Servicer, the Special Servicer, the
Depositor and the Certificate Registrar may for all purposes, including the
making of payments due on the Book-Entry Certificates, deal with the Depository
as the authorized representative of the Certificate Owners with respect to such
Certificates for the purposes of exercising the rights of Certificateholders
hereunder. The rights of Certificate Owners with respect to the Book-Entry
Certificates shall be limited to those established by law and agreements between
such Certificate Owners and the Depository Participants and brokerage firms
representing such Certificate Owners. Multiple requests and directions from, and
votes of, the Depository as Holder of the Book-Entry Certificates with respect
to any particular matter shall not be deemed inconsistent if they are made with
respect to different Certificate Owners. The Trustee may establish a reasonable
record date in connection with solicitations of consents from or voting by
Certificateholders and shall give notice to the Depository of such record date.

            (c) If (i)(A) the Depositor advises the Trustee and the Certificate
Registrar in writing that the Depository is no longer willing or able to
properly discharge its responsibilities with respect to a Class of the
Book-Entry Certificates, and (B) the Depositor is unable to locate a qualified
successor, or (ii) the Depositor at its option advises the Trustee and the
Certificate Registrar in writing that it elects to terminate the book-entry
system through the Depository with respect to a Class of Book-Entry
Certificates, the Certificate Registrar shall notify all affected Certificate
Owners, through the Depository, of the occurrence of any such event and of the
availability of Definitive Certificates to such Certificate Owners requesting
the same. Upon surrender to the Certificate Registrar of the Book-Entry
Certificates of any Class thereof by the Depository, accompanied by registration
instructions from the Depository for registration of transfer, the Certificate
Registrar shall execute, at the Depositor's expense, and the Authenticating
Agent shall authenticate and deliver, the Definitive Certificates in respect of
such Class to the Certificate Owners identified in such instructions. Upon
surrender to the Certificate Registrar of the Definitive Certificate of any
Class thereof by the Depository, accompanied by registration instructions from
the Certificate Owner for registration of transfer, the Certificate Registrar
shall execute, at the Depositor's expense, and the Authenticating Agent shall
authenticate and deliver, the Book-Entry Certificates in respect of such Class
to the Depository identified in such instructions. The Depositor shall provide
the Certificate Registrar with an adequate inventory of Definitive Certificates.
None of the Depositor, the Master Servicer, the Special Servicer, the Trustee or
the Certificate Registrar shall be liable for any delay in delivery of such
instructions and may conclusively rely on, and shall be protected in relying on,
such instructions. Upon the issuance of Definitive Certificates for purposes of
evidencing ownership of any Class of Registered Certificates, the registered
holders of such Definitive Certificates shall be recognized as
Certificateholders hereunder and, accordingly, shall be entitled directly to
receive payments on, to exercise Voting Rights with respect to, and to transfer
and exchange such Definitive Certificates.

            (d) Notwithstanding any other provisions contained herein, neither
the Trustee nor the Certificate Registrar shall have any responsibility
whatsoever to monitor or restrict the transfer of ownership interests in any
Certificate (including, but not limited to, any Non-Registered Certificate, any
Subordinated Certificate and any Class Z Certificate) which interests are
transferable through the book-entry facilities of the Depository.

            Section 5.04. Mutilated, Destroyed, Lost or Stolen Certificates.

            If (i) any mutilated Certificate is surrendered to the Certificate
Registrar, or the Certificate Registrar receives evidence to its satisfaction of
the destruction, loss or theft of any Certificate, and (ii) there is delivered
to the Trustee and the Certificate Registrar such security or indemnity as may
be required by them to save each of them harmless, then, in the absence of
actual notice to the Trustee and the Certificate Registrar that such Certificate
has been acquired by a bona fide purchaser, the Certificate Registrar shall
execute and the Authenticating Agent shall authenticate and deliver, in exchange
for or in lieu of any such mutilated, destroyed, lost or stolen Certificate, a
new Certificate of the same Class and like Percentage Interest. Upon the
issuance of any new Certificate under this Section, the Trustee and the
Certificate Registrar may require the payment of a sum sufficient to cover any
tax or other governmental charge that may be imposed in relation thereto and any
other expenses (including the fees and expenses of the Trustee and the
Certificate Registrar) connected therewith. Any replacement Certificate issued
pursuant to this Section shall constitute complete and indefeasible evidence of
ownership in the applicable REMIC created hereunder, as if originally issued,
whether or not the lost, stolen or destroyed Certificate shall be found at any
time.

            Section 5.05. Persons Deemed Owners.

            Prior to due presentment for registration of transfer, the
Depositor, the Master Servicer, the Special Servicer, the Trustee, the
Certificate Registrar and any agent of any of them may treat the Person in whose
name any Certificate is registered as of the related Record Date as the owner of
such Certificate for the purpose of receiving distributions pursuant to Section
4.01 and may treat the person whose name each Certificate is registered as of
the date of determination as the owner of such Certificate for all other
purposes whatsoever and none of the Depositor, the Master Servicer, the Special
Servicer, the Trustee, the Certificate Registrar or any agent of any of them
shall be affected by notice to the contrary.

                                   ARTICLE VI

                THE DEPOSITOR, THE MASTER SERVICER, THE SPECIAL
               SERVICER AND THE CONTROLLING CLASS REPRESENTATIVE

            Section 6.01. Liability of Depositor, Master Servicer and Special
Servicer.

            The Depositor, the Master Servicer and the Special Servicer shall be
liable in accordance herewith only to the extent of the respective obligations
specifically imposed upon and undertaken by the Depositor, the Master Servicer
and the Special Servicer herein.

            Section 6.02. Merger, Consolidation or Conversion of Depositor or
Master Servicer or Special Servicer.

            Subject to the following paragraph, the Depositor, the Master
Servicer and the Special Servicer shall each keep in full effect its existence,
rights and franchises as a corporation, or national banking association, as the
case may be, under the laws of the jurisdiction of its incorporation or
organization, and each will obtain and preserve its qualification to do business
as a national banking association or foreign corporation, as the case may be, in
each jurisdiction in which such qualification is or shall be necessary to
protect the validity and enforceability of this Agreement, the Certificates or
any of the Mortgage Loans and to perform its respective duties under this
Agreement, and the Master Servicer shall keep in full effect its existence and
rights as a national banking association under the laws of the United States of
America.

            The Depositor, the Master Servicer or the Special Servicer may be
merged or consolidated with or into any Person (other than the Trustee), or
transfer all or substantially all of its assets (which may be limited to all or
substantially all of its assets related to commercial mortgage loan servicing)
to any Person, in which case any Person resulting from any merger or
consolidation to which the Depositor, the Master Servicer or the Special
Servicer shall be a party, or any Person succeeding to the business (which may
be limited to the commercial loan servicing business) of the Depositor, the
Master Servicer or the Special Servicer, shall be the successor of the
Depositor, the Master Servicer or the Special Servicer, as the case may be,
hereunder, without the execution or filing of any paper or any further act on
the part of any of the parties hereto, anything herein to the contrary
notwithstanding; provided, however, no successor or surviving Person shall
succeed to the rights of the Master Servicer or the Special Servicer unless (i)
as evidenced in writing by the Rating Agencies, such succession will not result
in qualification, downgrading or withdrawal of the ratings then assigned by the
Rating Agencies to any Class of Certificates and (ii) such successor or
surviving Person makes the applicable representations and warranties set forth
in Section 3.23.

            Section 6.03. Limitation on Liability of Depositor, Master Servicer
and Special Servicer.

            None of the Depositor, the Master Servicer or the Special Servicer,
or any director, officer, employee or agent of any of them, shall be under any
liability to the Trust Fund, the Trustee or the Certificateholders or the
Companion Holders for any action taken, or not taken, in good faith pursuant to
this Agreement, or for errors in judgment; provided, however, this provision
shall not protect the Depositor, the Master Servicer or the Special Servicer
against any liability to the Trust Fund, the Trustee, the Certificateholders or
the Companion Holders for the breach of a representation, warranty or covenant
made herein by such party, or against any expense or liability specifically
required to be borne by such party without right of reimbursement pursuant to
the terms hereof, or against any liability which would otherwise be imposed by
reason of misfeasance, bad faith or negligence in the performance of obligations
or duties hereunder or negligent disregard of such obligations and duties. The
Depositor, the Master Servicer, the Special Servicer and any director, officer,
employee or agent of the Depositor, the Master Servicer or the Special Servicer
may rely in good faith on any document of any kind which, prima facie, is
properly executed and submitted by any Person respecting any matters arising
hereunder. The Depositor, the Master Servicer, the Special Servicer and any
director, member, manager, officer, employee or agent of the Depositor, the
Master Servicer or the Special Servicer shall be indemnified and held harmless
by the Trust Fund against any loss, liability or reasonable expense incurred in
connection with this Agreement or the Certificates (including, without
limitation, the distribution or posting of reports or other information as
contemplated by this Agreement), other than any loss, liability or expense: (i)
specifically required to be borne by such party without right of reimbursement
pursuant to the terms hereof (including without limitation, those expenses set
forth in Section 3.11(b) or Section 3.11(d) and the last sentence of the
definition of Servicing Advances); (ii) incurred in connection with any breach
of a representation, warranty or covenant made herein; or (iii) incurred by
reason of willful misfeasance, bad faith or negligence in the performance of
obligations or duties hereunder. None of the Depositor, the Master Servicer or
the Special Servicer shall be under any obligation to appear in, prosecute or
defend any legal action unless such action is related to its respective duties
under this Agreement and unless it is specifically required hereunder to bear
the costs of such legal action, in its opinion does not involve it in any
ultimate expense or liability; provided, however, the Depositor, the Master
Servicer or the Special Servicer may in its discretion undertake any such action
which it may deem necessary or desirable with respect to the enforcement and/or
protection of the rights and duties of the parties hereto and the interests of
the Certificateholders hereunder. In such event, the legal expenses and costs of
such action, and any liability resulting therefrom, shall be expenses, costs and
liabilities of the Trust Fund, and the Depositor, the Master Servicer and the
Special Servicer shall be entitled to be reimbursed therefor from the
Certificate Account as provided in Section 3.05. In no event shall the Master
Servicer or the Special Servicer be liable or responsible for any action taken
or omitted to be taken by the other of them or by the Depositor, the Trustee, or
any Certificateholder, subject to the provisions of Section 8.05(b).

            Section 6.04. Resignation of Master Servicer and the Special
Servicer.

            The Master Servicer and, subject to Section 6.09, the Special
Servicer may resign from the obligations and duties hereby imposed on it, upon a
determination that its duties hereunder are no longer permissible under
applicable law or are in material conflict by reason of applicable law with any
other activities carried on by it (the other activities of the Master Servicer
or the Special Servicer, as the case may be, so causing such a conflict being of
a type and nature carried on by the Master Servicer or the Special Servicer, as
the case may be, at the date of this Agreement). Any such determination
requiring the resignation of the Master Servicer or the Special Servicer, as
applicable, shall be evidenced by an Opinion of Counsel to such effect which
shall be delivered to the Trustee. Unless applicable law requires the Master
Servicer's or Special Servicer's resignation to be effective immediately, and
the Opinion of Counsel delivered pursuant to the prior sentence so states, no
such resignation shall become effective until the Trustee or other successor
shall have assumed the responsibilities and obligations of the resigning party
in accordance with Section 7.02 hereof. The Master Servicer and the Special
Servicer shall have the right to resign at any other time; provided that (i) a
willing successor thereto has been found by the Master Servicer or Special
Servicer, as applicable, (ii) each of the Rating Agencies confirms in writing
that the successor's appointment will not result in a withdrawal, qualification
or downgrade of any rating or ratings assigned to any Class of Certificates,
(iii) the resigning party pays all costs and expenses in connection with such
transfer, and (iv) the successor accepts appointment prior to the effectiveness
of such resignation. Neither the Master Servicer nor the Special Servicer shall
be permitted to resign except as contemplated above in this Section 6.04.

            Consistent with the foregoing, neither the Master Servicer nor the
Special Servicer shall, except as expressly provided herein, assign or transfer
any of its rights, benefits or privileges hereunder to any other Person, or,
except as provided in Sections 3.22 and 4.06, delegate to or subcontract with,
or authorize or appoint any other Person to perform any of the duties, covenants
or obligations to be performed by it hereunder. If, pursuant to any provision
hereof, the duties of the Master Servicer or the Special Servicer are
transferred to a successor thereto, the Master Servicing Fee or the Special
Servicing Fee, as the case may be, that accrues pursuant hereto from and after
the date of such transfer shall be payable to such successor.

            Section 6.05. Rights of Depositor and Trustee in Respect of Master
Servicer and the Special Servicer.

            The Master Servicer and the Special Servicer shall each afford the
Depositor, the Underwriters and the Trustee, upon reasonable notice, during
normal business hours access to all records maintained thereby in respect of its
rights and obligations hereunder and access to officers thereof responsible for
such obligations. Upon reasonable request, the Master Servicer and the Special
Servicer shall each furnish the Depositor, the Underwriters and the Trustee with
its most recent publicly available financial statements and such other
information as it possesses, and which it is not prohibited by applicable law or
contract from disclosing, regarding its business, affairs, property and
condition, financial or otherwise, except to the extent such information
constitutes proprietary information or is subject to a privilege under
applicable law. The Depositor may, but is not obligated to, enforce the
obligations of the Master Servicer and the Special Servicer hereunder and may,
but is not obligated to, perform, or cause a designee to perform, any defaulted
obligation of the Master Servicer or Special Servicer hereunder or exercise the
rights of the Master Servicer and the Special Servicer hereunder; provided,
however, neither the Master Servicer nor the Special Servicer shall be relieved
of any of its obligations hereunder by virtue of such performance by the
Depositor or its designee; provided, further, the Depositor may not exercise any
right pursuant to Section 7.01 to terminate the Master Servicer or the Special
Servicer as a party to this Agreement. The Depositor shall not have any
responsibility or liability for any action or failure to act by the Master
Servicer or the Special Servicer and is not obligated to supervise the
performance of the Master Servicer or the Special Servicer under this Agreement
or otherwise.

            Section 6.06. Depositor, Master Servicer and Special Servicer to
Cooperate with Trustee.

            The Depositor, the Master Servicer and the Special Servicer shall
each furnish such reports, certifications and information as are reasonably
requested by the Trustee in order to enable it to perform its duties hereunder.

            Section 6.07. Depositor, Special Servicer and Trustee to Cooperate
with Master Servicer.

            The Depositor, the Special Servicer and the Trustee shall each
furnish such reports, certifications and information as are reasonably requested
by the Master Servicer in order to enable it to perform its duties hereunder.

            Section 6.08. Depositor, Master Servicer and Trustee to Cooperate
with Special Servicer.

            The Depositor, the Master Servicer and the Trustee shall each
furnish such reports, certifications and information as are reasonably requested
by the Special Servicer in order to enable it to perform its duties hereunder.

            Section 6.09. Designation of Special Servicer by the Controlling
Class and Controlling Holders.

            The Holder or Holders of the Certificates evidencing a majority of
the Voting Rights allocated to the Controlling Class may at any time and from
time to time designate a Person meeting the requirements set forth in Section
6.04 (including, without limitation, Rating Agency confirmation) to serve as
Special Servicer hereunder and to replace any existing Special Servicer or any
Special Servicer that has resigned or otherwise ceased to serve as Special
Servicer; provided that such Holder or Holders shall pay all costs related to
the transfer of servicing if the Special Servicer is replaced other than due to
an Event of Default. Such Holder or Holders may also select a Controlling Class
Representative that may advise and direct the Special Servicer and whose
approval is required for certain actions, as described herein. Such Holder or
Holders shall so designate a Person to serve as replacement Special Servicer by
the delivery to the Trustee, the Master Servicer and the existing Special
Servicer of a written notice stating such designation. The Trustee shall,
promptly after receiving any such notice, deliver to the Rating Agencies an
executed Notice and Acknowledgment in the form attached hereto as Exhibit I-1.
If such Holders have not replaced the Special Servicer within 30 days of such
Special Servicer's resignation or the date such Special Servicer has ceased to
serve in such capacity, the Trustee shall designate a successor Special Servicer
meeting the requirements set forth in Section 6.04. Any designated Person shall
become the Special Servicer, subject to satisfaction of the other conditions set
forth below, on the date that the Trustee shall have received written
confirmation from all of the Rating Agencies that the appointment of such Person
will not result in the qualification, downgrading or withdrawal of the rating or
ratings assigned to one or more Classes of the Certificates. The appointment of
such designated Person as Special Servicer shall also be subject to receipt by
the Trustee of (1) an Acknowledgment of Proposed Special Servicer in the form
attached hereto as Exhibit I-2, executed by the designated Person, and (2) an
Opinion of Counsel (at the expense of the Person designated to become the
Special Servicer) to the effect that the designation of such Person to serve as
Special Servicer is in compliance with this Section 6.09 and all other
applicable provisions of this Agreement, that upon the execution and delivery of
the Acknowledgment of Proposed Special Servicer the designated Person shall be
bound by the terms of this Agreement and that this Agreement shall be
enforceable against the designated Person in accordance with its terms. Any
existing Special Servicer shall be deemed to have resigned simultaneously with
such designated Person's becoming the Special Servicer hereunder; provided,
however, the resigning Special Servicer shall continue to be entitled to receive
all amounts accrued or owing to it under this Agreement on or prior to the
effective date of such resignation (including Workout Fees as set forth in
Section 3.11(c) of this Agreement), and it shall continue to be entitled to the
benefits of Section 6.03 notwithstanding any such resignation. Such resigning
Special Servicer shall cooperate with the Trustee and the replacement Special
Servicer in effecting the termination of the resigning Special Servicer's
responsibilities and rights hereunder, including, without limitation, the
transfer within two (2) Business Days to the replacement Special Servicer for
administration by it of all cash amounts that shall at the time be or should
have been credited by the Special Servicer to the Certificate Account or the REO
Account or delivered to the Master Servicer or that are thereafter received with
respect to Specially Serviced Mortgage Loans and REO Properties.

            Notwithstanding the foregoing, in accordance with the terms of each
of the Galleria at Tyler Intercreditor Agreement and the Renaissance Tower
Office Building Intercreditor Agreement, the Companion Holder related to each of
the Galleria at Tyler Loan and the Renaissance Tower Office Building Loan, as
applicable, shall have the right to appoint, approve and/or remove the Special
Servicer with respect to each of the Galleria at Tyler Loan and the Renaissance
Tower Office Building Loan, as applicable, and the Controlling Class shall not
have the right to replace the Special Servicer with respect to the Galleria at
Tyler Loan and the Renaissance Tower Office Building Loan, as applicable, as
described above.

            Notwithstanding the foregoing, in accordance with the terms of the
Newport Bluffs Intercreditor Agreement, the Special Servicer may be removed at
any time, with or without cause, but only with the consent of both the
Controlling Class Representative and the 2006-C28 Controlling Class
Representative with respect to the Newport Bluffs Loan.

            Section 6.10. Master Servicer or Special Servicer as Owner of a
Certificate.

            The Master Servicer or an Affiliate of the Master Servicer or the
Special Servicer or an Affiliate of the Special Servicer may become the Holder
of (or, in the case of a Book-Entry Certificate, Certificate Owner with respect
to) any Certificate with (except as set forth in the definition of
"Certificateholder") the same rights it would have if it were not the Master
Servicer or the Special Servicer or an Affiliate thereof. If, at any time during
which the Master Servicer or the Special Servicer or an Affiliate of the Master
Servicer or the Special Servicer is the Holder of (or, in the case of a
Book-Entry Certificate, Certificate Owner with respect to) any Certificate, the
Master Servicer or the Special Servicer proposes to take action (including for
this purpose, omitting to take action) that (i) is not expressly prohibited by
the terms hereof and would not, in the Master Servicer's or the Special
Servicer's good faith judgment, violate the Servicing Standard, and (ii) if
taken, might nonetheless, in the Master Servicer's or the Special Servicer's
reasonable, good faith judgment, be considered by other Persons to violate the
Servicing Standard, then the Master Servicer or the Special Servicer may (but
need not) seek the approval of the Certificateholders to such action by
delivering to the Trustee a written notice that (a) states that it is delivered
pursuant to this Section 6.10, (b) identifies the Percentage Interest in each
Class of Certificates beneficially owned by the Master Servicer or the Special
Servicer or an Affiliate of the Master Servicer or the Special Servicer, and (c)
describes in reasonable detail the action that the Master Servicer or the
Special Servicer proposes to take. The Trustee, upon receipt of such notice,
shall forward it to the Certificateholders (other than the Master Servicer and
its Affiliates or the Special Servicer and its Affiliates, as appropriate),
together with such instructions for response as the Trustee shall reasonably
determine. If at any time Certificateholders holding greater than 50% of the
Voting Rights of all Certificateholders (calculated without regard to the
Certificates beneficially owned by the Master Servicer or its Affiliates or the
Special Servicer or its Affiliates) shall have failed to object in writing to
the proposal described in the written notice, and if the Master Servicer or the
Special Servicer shall act as proposed in the written notice within 30 days,
such action shall be deemed to comply with, but not modify, the Servicing
Standard. The Trustee shall be entitled to reimbursement from the Master
Servicer or the Special Servicer, as applicable, for the reasonable expenses of
the Trustee incurred pursuant to this paragraph. It is not the intent of the
foregoing provision that the Master Servicer or the Special Servicer be
permitted to invoke the procedure set forth herein with respect to routine
servicing matters arising hereunder, but rather in the case of unusual
circumstances.

            Section 6.11. The Controlling Class Representative.

            (a) Subject to Sections 6.11(c), 6.11(d), 6.11(e), 6.11(f) and
      6.11(g), the Controlling Class Representative will be entitled to advise
      the Special Servicer with respect to the following actions of the Special
      Servicer, and notwithstanding anything herein to the contrary except as
      necessary or advisable to avoid an Adverse REMIC Event or the violation of
      the Servicing Standard and except as set forth in, and in any event
      subject to, the second paragraph of this Section 6.11(a), the Special
      Servicer will not be permitted to take any of the following actions as to
      which the Controlling Class Representative has objected in writing within
      ten Business Days of being notified thereof, which notification with
      respect to the action described in clause (vi) below shall be copied by
      the Special Servicer to the Master Servicer (provided that if such written
      objection has not been received by the Special Servicer within such ten
      Business Day period, then the Controlling Class Representative's approval
      will be deemed to have been given):

            (i) any actual or proposed foreclosure upon or comparable conversion
      (which may include acquisitions of an REO Property) of the ownership of
      properties securing such of the Specially Serviced Mortgage Loans as come
      into and continue in default;

            (ii) any modification of a Money Term of a Mortgage Loan (other than
      a modification consisting of the extension of the maturity date of a
      Mortgage Loan for one year or less) or a material non-monetary term;

            (iii) any actual or proposed sale of an REO Property (other than in
      connection with the termination of the Trust Fund or pursuant to Section
      3.18);

            (iv) any determination to bring an REO Property into compliance with
      applicable environmental laws or to otherwise address Hazardous Materials
      located at an REO Property;

            (v) any acceptance of substitute or additional collateral or release
      of material collateral for a Mortgage Loan unless required by the
      underlying loan documents;

            (vi) any waiver of a "due-on-sale" clause or "due-on-encumbrance"
      clause;

            (vii) any release of any performance or "earn-out" reserves, escrows
      or letters of credit, including those listed on Exhibit J;

            (viii) any acceptance of an assumption agreement releasing a
      Mortgagor from liability under a Mortgage Loan (other than in connection
      with a defeasance permitted under the terms of the applicable Mortgage
      Loan documents);

            (ix) any termination of the related property manager for Mortgage
      Loans having an outstanding principal balance of greater than $5,000,000;

            (x) any termination of, or modification of, any applicable franchise
      agreement related to any Mortgage Loan secured by a hotel;

            (xi) any determination to allow a Mortgagor not to maintain
      terrorism insurance; and

            (xii) any determination to decrease the time period referenced in
      clause (g) of the definition of Specially Serviced Mortgage Loan.

            In addition, the Controlling Class Representative may direct the
Special Servicer to take, or to refrain from taking, such other actions as the
Controlling Class Representative may deem advisable or as to which provision is
otherwise made in this Agreement; provided that notwithstanding anything herein
to the contrary or anything in this Agreement which permits the Controlling
Class Representative or a Companion Holder the right to consent to or object to
actions taken by the Special Servicer, no such advice or direction, and no
objection contemplated by the preceding paragraph may require or cause the
Special Servicer to violate any applicable law, any provision of this Agreement
or the REMIC Provisions (and the Special Servicer shall disregard any such
direction or objection), including without limitation the Special Servicer's
obligation to act in accordance with the Servicing Standard, or expose the
Master Servicer, the Special Servicer, the Trust Fund or the Trustee or their
respective Affiliates, officers, directors, employees or agents to any claim,
suit or liability, or materially expand the scope of the Special Servicer or the
Special Servicer's responsibilities hereunder or cause the Special Servicer to
act, or fail to act, in a manner which in the reasonable judgment of the Special
Servicer is not in the best interests of the Certificateholders. For the
avoidance of doubt, the Master Servicer and/or the Special Servicer will
disregard any direction or objection of any party (including without limitation
of the Controlling Class Representative or a Companion Holder) if such direction
and or objection causes the Master Servicer or the Special Servicer to violate
the Servicing Standard, any applicable law, any provision of this Agreement or
the REMIC Provisions or expose the Master Servicer, the Special Servicer, the
Trust Fund, the Paying Agent or the Trustee or their respective Affiliates,
officers, directors employees or agents to any claim, suit or liability, or
materially expand the scope of the Master Servicer's or Special Servicer's
responsibility hereunder or cause the Master Servicer or the Special Servicer to
act, or fail to act, in a manner which in the reasonable judgment of the Master
Servicer or the Special Servicer is not in the best interest of the
Certificateholders, or the holders of the Companion Loan and consistent with the
Servicing Standard.

            (b) The Controlling Class Representative, the Controlling Class and
the Holder of any Companion Loan will have no liability to the
Certificateholders for any action taken, or for refraining from the taking of
any action, or for errors in judgment; provided, however, the Controlling Class
Representative, the Controlling Class and the Holder of any Companion Loan will
not be protected against any liability to a Controlling Class Certificateholder
which would otherwise be imposed by reason of willful misfeasance, bad faith or
negligence in the performance of duties or by reason of reckless disregard of
obligations or duties. By its acceptance of a Certificate, each
Certificateholder confirms its understanding that the Controlling Class, the
Controlling Class Representatives or any Holder of a Companion Loan may take
actions that favor the interests of one or more Classes of the Certificates over
other Classes of the Certificates, and that the Controlling Class, the
Controlling Class Representative and the Holder of any Companion Loan may have
special relationships and interests that conflict with those of Holders of some
Classes of the Certificates, that the Controlling Class, the Controlling Class
Representatives or any Holder of a Companion Loan may act solely in the
interests of the Holders of the Controlling Class or any Companion Holder, as
the case may be, and that the Controlling Class Representatives do not have any
duties or liability to the Holders of any Class of Certificates other than the
Controlling Class or any Companion Holder and shall have no liability whatsoever
for having so acted, and no Certificateholder may take any action whatsoever
against the Controlling Class Representatives or any Holder of any Companion
Loan or any director, officer, employee, agent or principal thereof for having
so acted.

            (c) Notwithstanding anything to the contrary in this Section 6.11 or
anything contained in this Agreement, with respect to the Galleria at Tyler
Loan, the Master Servicer and the Special Servicer shall comply with Section 3
of the Galleria at Tyler Intercreditor Agreement.

            (d) Notwithstanding anything to the contrary in this Section 6.11 or
anything contained in this Agreement, with respect to the 2006-C28 Serviced
Mortgage Loan the Controlling Class Representative and the 2006-C28 Controlling
Class Representative shall be entitled to take all actions under this Agreement
with respect to the 2006-C28 Serviced Mortgage Loan that would otherwise be
exercisable by the Controlling Class, the Controlling Class Representative or
the Majority Subordinate Certificateholder, pursuant to the procedures set forth
in the related Intercreditor Agreement and the 2006-C28 Pooling and Servicing
Agreement.

            (e) Notwithstanding anything to the contrary in this Section 6.11 or
anything contained in this Agreement, with respect to the Renaissance Tower
Office Building Loan, the Master Servicer and the Special Servicer shall comply
with Section 3 of the Renaissance Tower Office Building Intercreditor Agreement.

            (f) Notwithstanding anything to the contrary in this Section 6.11 or
anything contained in this Agreement, with respect to the Dakota Square Mall
Loan, the Master Servicer and the Special Servicer shall comply with Section 16
of the Dakota Square Mall Intercreditor Agreement.

            (g) Notwithstanding any provision in this Agreement to the contrary,
with respect to the Aetna Building-Fresno, CA Whole Loan or the FBI - Albany, NY
Whole Loan, where the holder of either of the related Companion Loans is acting
as the "Note B Holder" as defined under the related Intercreditor Agreement, the
related Note B Holder shall be entitled to exercise the rights set forth in the
related Intercreditor Agreement.

            (h) Notwithstanding anything in this Section 6.11, nothing herein is
intended to limit the right of the Controlling Class Representative to consult
on a non-binding basis with the Special Servicer with respect to any Mortgage
Loan.

                                   ARTICLE VII

                                     DEFAULT

            Section 7.01. Events of Default.

            (a) "Event of Default," wherever used herein, means any one of the
      following events:

            (i) any failure by the Master Servicer to deposit into the
      Certificate Account, which failure, in the case of deposits and remittance
      to the Certificate Account, continues unremedied 1 Business Day after the
      date upon which such deposit was required to have been made hereunder, or
      to deposit into, or remit to the Paying Agent for deposit into the
      Distribution Account, any amount (other than a P&I Advance) required to be
      so deposited or remitted by it under this Agreement, which failure, in the
      case of deposits and remittances to the Distribution Account, continues
      unremedied until 10:00 a.m., New York City time on the related
      Distribution Date; provided, however, to the extent the Master Servicer
      does not timely make such remittances, the Master Servicer shall pay the
      Trustee for the account of the Trustee interest on any amount not timely
      remitted at the Prime Rate from and including the applicable required
      remittance date to but not including the date such remittance is actually
      made; or

            (ii) any failure by the Special Servicer to timely deposit into the
      REO Account or to timely deposit into, or to timely remit to the Master
      Servicer for deposit into, the Certificate Account, any amount required to
      be so deposited or remitted under this Agreement; or

            (iii) any failure by the Master Servicer to timely make any
      Servicing Advance required to be made by it hereunder, which Servicing
      Advance remains unmade for a period of 5 Business Days following the date
      on which notice shall have been given to the Master Servicer, as the case
      may be, by the Trustee as provided in Section 3.03(c); or

            (iv) any failure on the part of the Master Servicer or the Special
      Servicer or any Servicing Participant duly to observe or perform in any
      material respect any other of the covenants or agreements on the part of
      the Master Servicer or the Special Servicer, as the case may be, contained
      in this Agreement which continues unremedied for a period of 30 days (7
      Business Days in the case of the Master Servicer's or Special Servicer's,
      as applicable, obligations contemplated by Sections 3.13, 3.14 and 8.17(n)
      hereof (with respect to any year that a report on Form 10-K is required to
      be filed)) after the date on which written notice of such failure,
      requiring the same to be remedied, shall have been given to the Master
      Servicer or the Special Servicer, as the case may be, by any other party
      hereto or the Master Servicer or the Special Servicer, as the case may be
      (with a copy to each other party hereto), or by the Holders of
      Certificates entitled to at least 25% of the Voting Rights; provided,
      however, with respect to any such failure which is not curable within such
      30-day period, the Master Servicer or the Special Servicer, as the case
      may be, shall have an additional cure period of 30 days to effect such
      cure so long as the Master Servicer or the Special Servicer, as the case
      may be, has commenced to cure such failure within the initial 30-day
      period and has provided the Trustee with an Officer's Certificate
      certifying that it has diligently pursued, and is continuing to pursue, a
      full cure; or

            (v) any breach on the part of the Master Servicer or the Special
      Servicer of any representation or warranty contained in this Agreement
      that materially and adversely affects the interests of any Class of
      Certificateholders and which continues unremedied for a period of 30 days
      after the date on which notice of such breach, requiring the same to be
      remedied, shall have been given to the Master Servicer or the Special
      Servicer, as the case may be, by any other party hereto or the Master
      Servicer or the Special Servicer, as the case may be (with a copy to each
      other party hereto), or by the Holders of Certificates entitled to at
      least 25% of the Voting Rights; provided, however, with respect to any
      failure which is not curable within such 30-day period, the Master
      Servicer or the Special Servicer, as the case may be, shall have an
      additional cure period of 30 days so long as the Master Servicer or the
      Special Servicer, as the case may be, has commenced to cure within the
      initial 30-day period and provided the Trustee with an Officer's
      Certificate certifying that it has diligently pursued, and is continuing
      to pursue, a full cure; or

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

            (vii) the Master Servicer or the Special Servicer shall consent to
      the appointment of a conservator, receiver, liquidator, trustee or similar
      official in any bankruptcy, insolvency, readjustment of debt, marshaling
      of assets and liabilities or similar proceedings of or relating to it or
      of or relating to all or substantially all of its property; or

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

            (ix) the consolidated net worth of the Master Servicer and of its
      direct or indirect parent, determined in accordance with generally
      accepted accounting principles, shall decline to less than $15,000,000; or

            (x) the Master Servicer or the Special Servicer receives actual
      knowledge that Moody's has (i) qualified, downgraded or withdrawn its
      rating or ratings of one or more Classes of Certificates, or (ii) placed
      one or more Classes of Certificates on "watch status" in contemplation of
      rating downgrade or withdrawal (and such "watch status" placement shall
      not have been withdrawn by Moody's within 60 days of the date that the
      Master Servicer or the Special Servicer obtained such actual knowledge)
      and, in the case of either of clauses (i) or (ii), citing servicing
      concerns with the Master Servicer or the Special Servicer, as applicable,
      as the sole or material factor in such rating action; or

            (xi) any failure on the part of the Master Servicer or the Special
      Servicer or any Servicing Participant (other than, with respect to the
      Master Servicer, Sub-Servicers identified on Exhibit Y hereto) engaged by
      the Master Servicer or the Special Servicer, as applicable, to observe or
      perform, following the expiration of any applicable grace and cure
      periods, in any material respect any of its duties or obligations under
      Section 8.17 within the timeframe specified; or

            (xii) the Master Servicer or the Special Servicer, as the case may
      be, is no longer listed on S&P's Select Servicer List as a U.S. Commercial
      Mortgage Master Servicer or a U.S. Commercial Mortgage Special Servicer,
      as the case may be, and such removal continues for a period of 60 days; or

            (xiii) the Master Servicer shall fail to remit to the Paying Agent
      for deposit into the Distribution Account, on any P&I Advance Date, the
      full amount of P&I Advances required to be made on such date, which
      failure continues unremedied until 10:00 a.m. New York City time on the
      next Business Day succeeding such P&I Advance Date; provided, however, to
      the extent the Master Servicer does not timely make such remittances, the
      Master Servicer shall pay the Trustee for the account of the Trustee,
      interest on any amount not timely remitted at the Prime Rate from and
      including the applicable required remittance date to but not including the
      date such remittance is actually made.

            (b) If any Event of Default shall occur with respect to the Master
      Servicer or the Special Servicer (in either case, for purposes of this
      Section 7.01(b), the "Defaulting Party") and shall be continuing, then,
      and in each and every such case, so long as such Event of Default shall
      not have been remedied, the Depositor and/or the Trustee may, and at the
      written direction of the Holders of Certificates entitled to at least 25%
      of the Voting Rights, the Trustee shall, by notice in writing to the
      Defaulting Party (with a copy of such notice to each other party hereto
      and the Rating Agencies), terminate all of the rights and obligations (but
      not the liabilities for actions and omissions occurring prior thereto) of
      the Defaulting Party under this Agreement and in and to the Trust Fund,
      other than its rights as a Certificateholder hereunder. Notwithstanding
      the foregoing, it is acknowledged and agreed that the Depositor shall have
      no obligation to exercise any of the preceding rights and/or powers. From
      and after the receipt by the Defaulting Party of such written notice of
      termination, all authority and power of the Defaulting Party under this
      Agreement, whether with respect to the Certificates (other than as a
      holder of any Certificate) or the Mortgage Loans or otherwise, shall pass
      to and be vested in the Trustee pursuant to and under this Section, and,
      without limitation, the Trustee is hereby authorized and empowered to
      execute and deliver, on behalf of and at the expense of the Defaulting
      Party, as attorney-in-fact or otherwise, any and all documents and other
      instruments, and to do or accomplish all other acts or things necessary or
      appropriate to effect the purposes of such notice of termination, whether
      to complete the transfer and endorsement or assignment of the Mortgage
      Loans and related documents, or otherwise. The Master Servicer and the
      Special Servicer each agree that, if it is terminated pursuant to this
      Section 7.01(b), it shall promptly (and in any event no later than ten
      Business Days subsequent to its receipt of the notice of termination)
      provide the Trustee with all documents and records, including those in
      electronic form, requested thereby to enable the Trustee or a successor
      Master Servicer or Special Servicer to assume the Master Servicer's or
      Special Servicer's, as the case may be, functions hereunder, and shall
      cooperate with the Trustee in effecting the termination of the Master
      Servicer's or Special Servicer's, as the case may be, responsibilities and
      rights hereunder, including, without limitation, (i) the immediate
      transfer to the Trustee or a successor Master or Special Servicer for
      administration by it of all cash amounts that shall at the time be or
      should have been credited by the Master Servicer to the Certificate
      Account, the Distribution Account, a Servicing Account or a Reserve
      Account (if the Master Servicer is the Defaulting Party) or that are
      thereafter received by or on behalf of it with respect to any Mortgage
      Loan or (ii) the transfer within two (2) Business Days to the Trustee or a
      successor Special Servicer for administration by it of all cash amounts
      that shall at the time be or should have been credited by the Special
      Servicer to the REO Account, the Certificate Account, a Servicing Account
      or a Reserve Account or delivered to the Master Servicer (if the Special
      Servicer is the Defaulting Party) or that are thereafter received by or on
      behalf of it with respect to any Mortgage Loan or REO Property (provided,
      however, the Master Servicer and the Special Servicer each shall, if
      terminated pursuant to this Section 7.01(b), continue to be entitled to
      receive all amounts accrued or owing to it under this Agreement on or
      prior to the date of such termination, whether in respect of Advances or
      otherwise, and it shall continue to be entitled to the benefits of Section
      6.03 notwithstanding any such termination). Any cost or expenses in
      connection with any actions to be taken by the Master Servicer, the
      Special Servicer or the Trustee pursuant to this paragraph shall be borne
      by the Defaulting Party and if not paid by the Defaulting Party within 90
      days after the presentation of reasonable documentation of such costs and
      expenses, such expense shall be reimbursed by the Trust Fund; provided,
      however, the Defaulting Party shall not thereby be relieved of its
      liability for such expenses. If and to the extent that the Defaulting
      Party has not reimbursed such costs and expenses, the Trustee shall have
      an affirmative obligation to take all reasonable actions to collect such
      expenses on behalf of and at the expense of the Trust Fund. For purposes
      of this Section 7.01 and of Section 7.03(b), the Trustee shall not be
      deemed to have knowledge of an event which constitutes, or which with the
      passage of time or notice, or both, would constitute an Event of Default
      described in clauses (i)-(viii) of subsection (a) above unless a
      Responsible Officer of the Trustee has actual knowledge thereof or unless
      notice of any event which is in fact such an Event of Default is received
      by the Trustee and such notice references the Certificates, the Trust Fund
      or this Agreement.

            (c) If the Master Servicer receives a notice of termination under
      Section 7.01(b) solely due to an Event of Default under Section 7.01(a)(x)
      and/or (xii) and if the terminated Master Servicer provides the Trustee
      with the appropriate "request for proposal" materials within the 5
      Business Days after receipt of such termination notice, the Master
      Servicer shall continue to serve as Master Servicer hereunder until a
      successor Master Servicer is selected in accordance with this Section
      7.01(c); provided the Trustee has requested the Master Servicer to
      continue to serve as the Master Servicer during such period. Upon receipt
      of the "request for proposal" materials, the Trustee shall promptly
      thereafter (using such "request for proposal" materials provided by the
      terminated Master Servicer) solicit good faith bids for the rights to
      master service the Mortgage Loans under this Agreement from at least 3
      Persons qualified to act as Master Servicer hereunder in accordance with
      Sections 6.02 and 7.02 (any such Person so qualified, a "Qualified
      Bidder") or, if 3 Qualified Bidders cannot be located, then from as many
      Persons as the Trustee can determine are Qualified Bidders; provided that
      at the Trustee's request, the Master Servicer to be terminated pursuant to
      Section 7.01(b) shall supply the Trustee with the names of Persons from
      whom to solicit such bids; provided, further, the Trustee shall not be
      responsible if less than 3 or no Qualified Bidders submit bids for the
      right to master service the Mortgage Loans under this Agreement. The bid
      proposal shall require any Successful Bidder (as defined below), as a
      condition of such bid, to enter into this Agreement as successor Master
      Servicer, and to agree to be bound by the terms hereof, within 45 days
      after the notice of termination to the Master Servicer. The materials
      provided to the Trustee shall provide for soliciting bids (i) on the basis
      of such successor Master Servicer retaining all Sub-Servicers to continue
      the primary servicing of the Mortgage Loans pursuant to the terms of the
      respective Sub-Servicing Agreements and to enter into a Sub-Servicing
      Agreement with the terminated Master Servicer to service each of the
      Mortgage Loans not subject to a Sub-Servicing Agreement at a servicing fee
      rate per annum equal to the Master Servicing Fee Rate minus 2.0 basis
      points per Mortgage Loan serviced (each, a "Servicing-Retained Bid") and
      (ii) on the basis of terminating each Sub-Servicing Agreement and
      Sub-Servicer that it is permitted to terminate in accordance with Section
      3.22 (each, a "Servicing-Released Bid"). The Trustee shall select the
      Qualified Bidder with the highest cash Servicing-Retained Bid (or, if
      none, the highest cash Servicing Released Bid) (the "Successful Bidder")
      to act as successor Master Servicer hereunder. The Trustee shall direct
      the Successful Bidder to enter into this Agreement as successor Master
      Servicer pursuant to the terms hereof (and, if the successful bid was a
      Servicing-Retained Bid, to enter into a Sub-Servicing Agreement with the
      terminated Master Servicer as contemplated above), no later than 45 days
      after termination of the Master Servicer.

            Upon the assignment and acceptance of the master servicing rights
hereunder to and by the Successful Bidder, the Trustee shall remit or cause to
be remitted (i) if the successful bid was a Servicing-Retained Bid, to the
Master Servicer to be terminated pursuant to Section 7.01(b) the amount of such
cash bid received from the Successful Bidder (net of "out-of-pocket" expenses
incurred in connection with obtaining such bid and transferring servicing) and
(ii) if the successful bid was a Servicing-Released Bid, to the Master Servicer
and each terminated Sub-Servicer its respective Bid Allocation. In connection
with such remittance, the Trustee is entitled to be reimbursed by the Master
Servicer for the Trustee's "out-of-pocket" expenses incurred in connection with
obtaining such bid and transferring servicing as contemplated by clause (i) of
this paragraph and by the definition of "Bid Allocation".

            If the Successful Bidder has not entered into this Agreement as
successor Master Servicer within such 45-day period or no Successful Bidder was
identified within such 45-day period, the Master Servicer to be terminated
pursuant to Section 7.01(b) shall reimburse the Trustee for all reasonable
"out-of-pocket" expenses incurred by the Trustee in connection with such bid
process and the Trustee shall have no further obligations under this Section
7.01(c). The Trustee thereafter may act or may select a successor to act as
Master Servicer hereunder in accordance with Section 7.02.

            (d) Notwithstanding the foregoing, if the Trustee or the Master
Servicer has received notice from S&P, Moody's or Fitch that the Master Servicer
is no longer approved by Moody's or Fitch or is no longer listed on S&P's Select
Servicer List as a U.S. Commercial Mortgage Master Servicer, then the Trustee or
Master Servicer shall promptly notify the other of the same.

            Section 7.02. Trustee to Act; Appointment of Successor.

            On and after the time the Master Servicer or the Special Servicer
resigns pursuant to Section 6.04 or receives a notice of termination pursuant to
Section 7.01, the Trustee shall, unless a successor is appointed pursuant to
Section 6.04, be the successor in all respects to the Master Servicer or the
Special Servicer, as the case may be, in its capacity as such under this
Agreement and the transactions set forth or provided for herein and shall have
all (and the former Master Servicer or the Special Servicer, as the case may be,
shall cease to have any) of the responsibilities, duties and liabilities (except
as provided in the next sentence) of the Master Servicer or the Special
Servicer, as the case may be, arising thereafter, including, without limitation,
if the Master Servicer is the resigning or terminated party, the Master
Servicer's obligation to make P&I Advances, the unmade P&I Advances that gave
rise to such Event of Default; provided that if the Master Servicer is the
resigning or terminated party, and if after the Closing Date the Trustee is
prohibited by law or regulation from obligating itself to make P&I Advances (as
evidenced by an Opinion of Counsel delivered to the Depositor and the Rating
Agencies) the Trustee shall not be obligated to make such P&I Advances;
provided, further, any failure to perform such duties or responsibilities caused
by the Master Servicer's or the Special Servicer's, as the case may be, failure
to provide information or monies required by Section 7.01 shall not be
considered a default by the Trustee hereunder. Notwithstanding anything contrary
in this Agreement, the Trustee shall in no event be held responsible or liable
with respect to any of the acts, omissions, representations and warranties of
the resigning or terminated party (other than the Trustee) or for any losses
incurred by such resigning or terminated party pursuant to Section 3.06
hereunder nor shall the Trustee be required to purchase any Mortgage Loan
hereunder. As compensation therefor, the Trustee shall be entitled to all fees
and other compensation which the resigning or terminated party would have been
entitled to if the resigning or terminated party had continued to act hereunder
(other than fees already earned, including, without limitation, Workout Fees).
Notwithstanding the above and subject to its obligations under Section 3.22(d)
and 7.01(b), the Trustee may, if it shall be unwilling in its sole discretion to
so act as either Master Servicer or Special Servicer, as the case may be, or
shall, if it is unable to so act as either Master Servicer or Special Servicer,
as the case may be, or shall, if the Trustee is not approved as a master
servicer or a special servicer, as the case may be, by any of the Rating
Agencies or if the Holders of Certificates entitled to at least 51% of the
Voting Rights so request in writing to the Trustee promptly appoint, subject to
the approval of each of the Rating Agencies (as evidenced by written
confirmation therefrom to the effect that the appointment of such institution
would not cause the qualification, downgrading or withdrawal of the then current
rating on any Class of Certificates) or petition a court of competent
jurisdiction to appoint, any established mortgage loan servicing institution
that meets the requirements of Section 6.02 (including, without limitation,
Rating Agency confirmation); provided, however, in the case of a resigning or
terminated Special Servicer, such appointment shall be subject to the rights of
the Holders of Certificates evidencing a majority of the Voting Rights allocated
to the Controlling Class to designate a successor pursuant to Section 6.09.
Except with respect to an appointment provided below, no appointment of a
successor to the Master Servicer or the Special Servicer hereunder shall be
effective until the assumption of the successor to such party of all its
responsibilities, duties and liabilities under this Agreement. Pending
appointment of a successor to the Master Servicer or the Special Servicer
hereunder, the Trustee shall act in such capacity as hereinabove provided.
Notwithstanding the above, the Trustee shall, if the Master Servicer is the
resigning or terminated party and the Trustee is prohibited by law or regulation
from making P&I Advances, promptly appoint any established mortgage loan
servicing institution that has a net worth of not less than $15,000,000 and is
otherwise acceptable to each Rating Agency (as evidenced by written confirmation
therefrom to the effect that the appointment of such institution would not cause
the qualification, downgrading or withdrawal of the then current rating on any
Class of Certificates), as the successor to the Master Servicer hereunder in the
assumption of all or any part of the responsibilities, duties or liabilities of
the Master Servicer hereunder (including, without limitation, the obligation to
make P&I Advances), which appointment will become effective immediately. In
connection with any such appointment and assumption described herein, the
Trustee may make such arrangements for the compensation of such successor out of
payments on the Mortgage Loans as it and such successor shall agree; provided,
however, no such compensation shall be in excess of that permitted the resigning
or terminated party hereunder. Such successor and the other parties hereto shall
take such action, consistent with this Agreement, as shall be necessary to
effectuate any such succession.

            Section 7.03. Notification to Certificateholders and Companion
Holders.

            (a) Upon any resignation of the Master Servicer or the Special
Servicer pursuant to Section 6.04, any termination of the Master Servicer or the
Special Servicer pursuant to Section 7.01, any appointment of a successor to the
Master Servicer or the Special Servicer pursuant to Section 7.02 or the
effectiveness of any designation of a new Special Servicer pursuant to Section
6.09, the Trustee shall give prompt written notice thereof to Certificateholders
at their respective addresses appearing in the Certificate Register, and to the
Companion Holders.

            (b) Not later than the later of (i) 60 days after the occurrence of
any event which constitutes or, with notice or lapse of time or both, would
constitute an Event of Default and (ii) 5 days after a Responsible Officer of
the Trustee has notice of the occurrence of such an event, the Trustee shall
transmit by mail to the Depositor, all Certificateholders, the Rating Agencies
and the Companion Holders notice of such occurrence, unless such default shall
have been cured.

            Section 7.04. Waiver of Events of Default.

            The Holders representing at least 66-2/3% of the Voting Rights
allocated to the Classes of Certificates affected by any Event of Default
hereunder may waive such Event of Default; provided, however, an Event of
Default under clause (i), (ii), (x) or (xii) of Section 7.01(a) may be waived
only by all of the Certificateholders of the affected Classes. Upon any such
waiver of an Event of Default, such Event of Default shall cease to exist and
shall be deemed to have been remedied for every purpose hereunder. No such
waiver shall extend to any subsequent or other Event of Default or impair any
right consequent thereon except to the extent expressly so waived.
Notwithstanding any other provisions of this Agreement, for purposes of waiving
any Event of Default pursuant to this Section 7.04, Certificates registered in
the name of the Depositor or any Affiliate of the Depositor shall be entitled to
Voting Rights with respect to the matters described above.

            Section 7.05. Additional Remedies of Trustee Upon Event of Default.

            During the continuance of any Event of Default, so long as such
Event of Default shall not have been remedied, the Trustee, in addition to the
rights specified in Section 7.01, shall have the right, in its own name and as
trustee of an express trust, to take all actions now or hereafter existing at
law, in equity or by statute to enforce its rights and remedies and to protect
the interests, and enforce the rights and remedies, of the Certificateholders
(including the institution and prosecution of all judicial, administrative and
other proceedings and the filings of proofs of claim and debt in connection
therewith). No remedy provided for by this Agreement shall be exclusive of any
other remedy, and each and every remedy shall be cumulative and in addition to
any other remedy, and no delay or omission to exercise any right or remedy shall
impair any such right or remedy or shall be deemed to be a waiver of any Event
of Default. Under no circumstances shall the rights provided to the Trustee
under this Section 7.05 be construed as a duty or obligation of the Trustee.

                                  ARTICLE VIII

                             CONCERNING THE TRUSTEE

            Section 8.01. Duties of Trustee.

            (a) The Trustee, prior to the occurrence of an Event of Default and
      after the curing or waiver of all Events of Default which may have
      occurred, undertakes to perform such duties and only such duties as are
      specifically set forth in this Agreement. If an Event of Default occurs
      and is continuing, the Trustee shall exercise such of the rights and
      powers vested in it by this Agreement, and use the same degree of care and
      skill in their exercise as a prudent man would exercise or use under the
      circumstances in the conduct of his own affairs. Any permissive right of
      the Trustee contained in this Agreement shall not be construed as a duty.

            (b) The Trustee, upon receipt of all resolutions, certificates,
      statements, opinions, reports, documents, orders or other instruments
      furnished to the Trustee that are specifically required to be furnished
      pursuant to any provision of this Agreement (other than the Mortgage
      Files, the review of which is specifically governed by the terms of
      Article II), shall examine them to determine whether they conform to the
      requirements of this Agreement to the extent specifically set forth
      herein. If any such instrument is found not to conform to the requirements
      of this Agreement in a material manner, the Trustee shall take such action
      as it deems appropriate to have the instrument corrected. The Trustee
      shall not be responsible for the accuracy or content of any resolution,
      certificate, statement, opinion, report, document, order or other
      instrument furnished by the Depositor or the Master Servicer or the
      Special Servicer, and accepted by the Trustee in good faith, pursuant to
      this Agreement.

            (c) No provision of this Agreement shall be construed to relieve the
      Trustee from liability for its own negligent action, its own negligent
      failure to act or its own misconduct; provided, however:

            (i) Prior to the occurrence of an Event of Default, and after the
      curing of all such Events of Default which may have occurred, the duties
      and obligations of the Trustee shall be determined solely by the express
      provisions of this Agreement, the Trustee shall not be liable except for
      the performance of such duties and obligations as are specifically set
      forth in this Agreement, no implied covenants or obligations shall be read
      into this Agreement against the Trustee and, in the absence of bad faith
      on the part of the Trustee, the Trustee may conclusively rely, as to the
      truth of the statements and the correctness of the opinions expressed
      therein, upon any certificates or opinions furnished to the Trustee and
      conforming to the requirements of this Agreement;

            (ii) The Trustee shall not be personally liable for an error of
      judgment made in good faith by a Responsible Officer or Responsible
      Officers of the Trustee unless it shall be proved that the Trustee was
      negligent in ascertaining the pertinent facts if it was required to do so;

            (iii) The Trustee shall not be personally liable with respect to any
      action taken, suffered or omitted to be taken by it in good faith in
      accordance with the direction of Holders of Certificates entitled to at
      least 25% of the Voting Rights relating to the time, method and place of
      conducting any proceeding for any remedy available to the Trustee or
      exercising any trust or power conferred upon the Trustee under this
      Agreement; and

            (iv) The protections, immunities and indemnities afforded to the
      Trustee hereunder shall also be available to the Paying Agent,
      Authenticating Agent, Certificate Registrar, REMIC Administrator and
      Custodian.

            For so long as reports are required to be filed with the Commission
under the Exchange Act with respect to the Trust Fund, the Trustee shall not
utilize any Subcontractor that is a Prohibited Party. The Trustee shall
indemnify the Depositor, the Sponsors and any director, officer, employee or
agent of the Depositor or the Sponsors and hold them harmless against any and
all claims, losses, damages, penalties, fines, forfeitures, reasonable and
necessary legal fees and related costs, judgments, and any other costs, fees and
expenses that any of them may sustain in any way related to the breach by the
Trustee of its obligation set forth in the preceding sentence or the failure of
the Trustee to perform any of its obligations under Section 3.13. This indemnity
shall survive the termination of this Agreement or the earlier resignation or
removal of the Trustee.

            Section 8.02. Certain Matters Affecting Trustee.

            Except as otherwise provided in Section 8.01 and Article X:

            (a) the Trustee may rely upon and shall be protected in acting or
refraining from acting upon any resolution, Officer's Certificate, certificate
of auditors or any other certificate, statement, instrument, opinion, report,
notice, request, consent, order, appraisal, bond or other paper or document
reasonably believed by it to be genuine and to have been signed or presented by
the proper party or parties;

            (b) the Trustee may consult with counsel and the written advice of
such counsel or any Opinion of Counsel shall be full and complete authorization
and protection in respect of any action taken or suffered or omitted by it
hereunder in good faith and in accordance therewith;

            (c) the Trustee shall be under no obligation to exercise any of the
trusts or powers vested in it by this Agreement or to make any investigation of
matters arising hereunder or, except as provided in Section 10.01 or 10.02, to
institute, conduct or defend any litigation hereunder or in relation hereto at
the request, order or direction of any of the Certificateholders, pursuant to
the provisions of this Agreement, unless such Certificateholders shall have
offered to the Trustee reasonable security or indemnity against the costs,
expenses and liabilities which may be incurred therein or thereby; the Trustee
shall not be required to expend or risk its own funds or otherwise incur any
financial liability in the performance of any of its duties hereunder, or in the
exercise of any of its rights or powers, if it shall have reasonable grounds for
believing that repayment of such funds or adequate indemnity against such risk
or liability is not reasonably assured to it; provided, however, nothing
contained herein shall, relieve the Trustee of the obligation, upon the
occurrence of an Event of Default which has not been cured, to exercise such of
the rights and powers vested in it by this Agreement, and to use the same degree
of care and skill in their exercise as a prudent man would exercise or use under
the circumstances in the conduct of his own affairs;

            (d) the Trustee shall not be personally liable for any action
reasonably taken, suffered or omitted by it in good faith and believed by it to
be authorized or within the discretion or rights or powers conferred upon it by
this Agreement;

            (e) prior to the occurrence of an Event of Default hereunder and
after the curing of all Events of Default which may have occurred, the Trustee
shall not be bound to make any investigation into the facts or matters stated in
any resolution, certificate, statement, instrument, opinion, report, notice,
request, consent, order, approval, bond or other paper or document, unless
requested in writing to do so by Holders of Certificates entitled to at least
25% of the Voting Rights; provided, however, if the payment within a reasonable
time to the Trustee of the costs, expenses or liabilities likely to be incurred
by it in the making of such investigation is, in the opinion of the Trustee, not
reasonably assured to the Trustee by the security afforded to it by the terms of
this Agreement, the Trustee may require reasonable indemnity against such
expense or liability as a condition to taking any such action;

            (f) the Trustee may execute any of the trusts or powers hereunder or
perform any duties hereunder either directly or by or through agents or
attorneys; provided, however, the Trustee shall remain responsible for all acts
and omissions of such agents or attorneys within the scope of their employment
to the same extent as it is responsible for its own actions and omissions
hereunder;

            (g) the Trustee shall not be responsible for any act or omission of
the Master Servicer or the Special Servicer (unless the Trustee is acting as
Master Servicer or the Special Servicer) or the Depositor; and

            (h) neither the Trustee nor the Certificate Registrar shall have any
obligation or duty to monitor, determine or inquire as to compliance with any
restriction on transfer imposed under Article V under this Agreement or under
applicable law with respect to any transfer of any Certificate or any interest
therein, other than to require delivery of the certification(s) and/or Opinions
of Counsel described in said Article applicable with respect to changes in
registration of record ownership of Certificates in the Certificate Register and
to examine the same to determine substantial compliance with the express
requirements of this Agreement. The Trustee and Certificate Registrar shall have
no liability for transfers, including transfers made through the book entry
facilities of the Depository or between or among Depository Participants or
beneficial owners of the Certificates, made in violation of applicable
restrictions except for its failure to perform its express duties in connection
with changes in registration of record ownership in the Certificate Register.

            Section 8.03. Trustee Not Liable for Validity or Sufficiency of
Certificates or Mortgage Loans.

            The recitals contained herein and in the Certificates, other than
the statements attributed to the Trustee in Article II, Section 8.15 and the
signature of the Certificate Registrar and the Authenticating Agent set forth on
each outstanding Certificate, shall be taken as the statements of the Depositor,
the Master Servicer or the Special Servicer, as the case may be, and the Trustee
does not assume any responsibility for their correctness. Except as set forth in
Section 8.15, the Trustee makes no representations as to the validity or
sufficiency of this Agreement or of any Certificate (other than as to the
signature of the Trustee set forth thereon) or of any Mortgage Loan or related
document. The Trustee shall not be accountable for the use or application by the
Depositor of any of the Certificates issued to it or of the proceeds of such
Certificates, or for the use or application of any funds paid to the Depositor
in respect of the assignment of the Mortgage Loans to the Trust Fund, or any
funds deposited in or withdrawn from the Certificate Account or any other
account by or on behalf of the Depositor, the Master Servicer or the Special
Servicer unless the Trustee is acting as Paying Agent. The Trustee shall not be
responsible for the accuracy or content of any resolution, certificate,
statement, opinion, report, document, order or other instrument furnished by the
Depositor, the Master Servicer or the Special Servicer, and accepted by the
Trustee in good faith, pursuant to this Agreement.

            Section 8.04. Trustee May Own Certificates.

            The Trustee or any agent of the Trustee in its individual or any
other capacity, may become the owner or pledgee of Certificates with the same
rights (except as otherwise provided in the definition of "Certificateholder")
as it would have if it were not the Trustee or such agent.

            Section 8.05. Fees and Expenses of Trustee; Indemnification of
Trustee.

            (a) On each Distribution Date, the Trustee shall withdraw from the
general funds on deposit in the Distribution Account as provided in Section
3.05(b), prior to any distributions to be made therefrom on such date, and pay
to itself all earned but unpaid Trustee Fees, as compensation for all services
rendered by the Trustee, in the execution of the trusts hereby created and in
the exercise and performance of any of the powers and duties of the Trustee
hereunder at the Trustee Fee Rate. No Trustee Fee shall be payable with respect
to the Companion Loans. The Trustee Fee (which shall not be limited by any
provision of law in regard to the compensation of a trustee of an express trust)
shall constitute the Trustee's sole compensation for such services to be
rendered by it.

            (b) The Trustee (whether in its capacity as such or individually)
and any director, officer, employee, affiliate, agent or "control" person within
the meaning of the Securities Act of 1933 of the Trustee shall be entitled to be
indemnified for and held harmless by the Trust Fund against any loss, liability
or reasonable "out-of-pocket" expense (including, without limitation, costs and
expenses of litigation, and of investigation, counsel fees, damages, judgments
and amounts paid in settlement) arising out of, or incurred in connection with
this Agreement, the Mortgage Loans or the Certificates (including in respect of
the offering of such Certificates) or any act of the Master Servicer or the
Special Servicer taken on behalf of the Trustee as provided for herein; provided
that such expense is an "unanticipated expense incurred by the REMIC" within the
meaning of Treasury Regulations Section 1.860G-1(b)(3)(ii); provided, further,
neither the Trustee, nor any of the other above specified Persons shall be
entitled to indemnification pursuant to this Section 8.05(b) for (1) any
liability specifically required to be borne thereby pursuant to the terms
hereof, or (2) any loss, liability or expense incurred by reason of willful
misfeasance, bad faith or negligence in the performance of the Trustee's
obligations and duties hereunder, or by reason of its negligent disregard of
such obligations and duties, or as may arise from a breach of any
representation, warranty or covenant of the Trustee as applicable, made herein.
The provisions of this Section 8.05(b) shall survive any resignation or removal
of the Trustee and appointment of a successor Trustee.

            Section 8.06. Eligibility Requirements for Trustee.

            The Trustee hereunder shall at all times be an association or a
corporation organized and doing business under the laws of the United States of
America or any State thereof or the District of Columbia, authorized under such
laws to exercise trust powers, having a combined capital and surplus of at least
$100,000,000 and subject to supervision or examination by a federal or state
banking authority. If such association or corporation publishes reports of
condition at least annually, pursuant to law or to the requirements of the
aforesaid supervising or examining authority, then for the purposes of this
Section the combined capital and surplus of such association or corporation
shall be deemed to be its combined capital and surplus as set forth in its most
recent report of condition so published. The Trustee shall also be an entity
with a long term unsecured debt rating of at least (a) "A+" by S&P, "Aa3" by
Moody's and "A+" by Fitch and a short term unsecured debt rating of at least
"A-1" by S&P and "F1" by Fitch or (b) such other rating that shall not result in
the qualification, downgrading or withdrawal of the rating or ratings assigned
to one or more Classes of the Certificates by any Rating Agency as confirmed in
writing. In case at any time the Trustee shall cease to be eligible in
accordance with the provisions of this Section, the Trustee, shall resign
immediately in the manner and with the effect specified in Section 8.07;
provided that if the Trustee shall cease to be so eligible because its combined
capital and surplus is no longer at least $100,000,000 or its long-term
unsecured debt rating no longer conforms to the requirements of the immediately
preceding sentence, and if the Trustee proposes to the other parties hereto to
enter into an agreement with (and reasonably acceptable to) each of them, and if
in light of such agreement the Trustee's continuing to act in such capacity
would not (as evidenced in writing by each Rating Agency) cause any Rating
Agency to qualify, downgrade or withdraw any rating assigned thereby to any
Class of Certificates, then upon the execution and delivery of such agreement
the Trustee shall not be required to resign, and may continue in such capacity,
for so long as none of the ratings assigned by the Rating Agencies to the
Certificates is qualified, downgraded or withdrawn thereby. The bank, trust
company, corporation or association serving as Trustee may have normal banking
and trust relationships with the Depositor, the Master Servicer, the Special
Servicer and their respective Affiliates but, except to the extent permitted or
required by Section 7.02, shall not be an "Affiliate" (as such term is defined
in Section III of PTE 2000-58) of the Master Servicer, the Special Servicer, any
Sub-Servicer, the Underwriters, the Depositor, or any obligor with respect to
Mortgage Loans constituting more than 5.0% of the aggregate authorized principal
balance of the Mortgage Loans as of the date of the initial issuances of the
Certificates or any "Affiliate" (as such term is defined in Section III of PTE
2000-58) of any such Person.

            Section 8.07. Resignation and Removal of Trustee.

            (a) The Trustee may at any time resign and be discharged from the
trusts hereby created by giving written notice thereof to the Depositor, the
Master Servicer, the Special Servicer and to all Certificateholders at their
respective addresses set forth in the Certificate Register. Upon receiving such
notice of resignation, the Master Servicer shall promptly appoint a successor
trustee meeting the requirements in Section 8.06 and acceptable to the Depositor
and the Rating Agencies by written instrument, in duplicate, which instrument
shall be delivered to the resigning Trustee and to the successor trustee. A copy
of such instrument shall be delivered to the Depositor, the Special Servicer and
the Certificateholders by the Master Servicer. If no successor trustee shall
have been so appointed and have accepted appointment within 30 days after the
giving of such notice of resignation, the resigning Trustee may petition any
court of competent jurisdiction for the appointment of a successor trustee.

            (b) If at any time the Trustee shall cease to be eligible in
accordance with the provisions of Section 8.06 and shall fail to resign after
written request therefor by the Depositor or the Master Servicer, or if at any
time the Trustee shall become incapable of acting, or shall be adjudged bankrupt
or insolvent, or a receiver of the Trustee or of its property shall be
appointed, or any public officer shall take charge or control of the Trustee or
of its property or affairs for the purpose of rehabilitation, conservation or
liquidation, or if the Trustee or Paying Agent (if different from the Trustee)
shall fail (other than by reason of the failure of either the Master Servicer or
the Special Servicer to timely perform its obligations hereunder or as a result
of other circumstances beyond the Trustee's reasonable control), to timely
deliver any report to be delivered by the Trustee pursuant to Section 4.02 and
such failure shall continue unremedied for a period of 5 days, or if the Trustee
or Paying Agent (if different from the Trustee) fails to make distributions
required pursuant to Section 3.05(b), 4.01 or 9.01, then the Depositor may
remove the Trustee and appoint a successor trustee if necessary, acceptable to
the Master Servicer and the Rating Agencies (as evidenced by written
confirmation therefrom to the effect that the appointment of such institution
would not cause the qualification, downgrading or withdrawal of the then-current
rating on any Class of Certificates) by written instrument, in duplicate, which
instrument shall be delivered to the Trustee so removed and to the successor
trustee. A copy of such instrument shall be delivered to the Master Servicer,
the Special Servicer and the Certificateholders by the Depositor.

            (c) The Holders of Certificates entitled to at least 51% of the
Voting Rights may at any time remove the Trustee and appoint a successor
trustee, if necessary, by written instrument or instruments, in triplicate,
signed by such Holders or their attorneys-in-fact duly authorized, one complete
set of which instruments shall be delivered to the Master Servicer, one complete
set to the Trustee so removed and one complete set to the successor trustee so
appointed. A copy of such instrument shall be delivered to the Depositor, the
Special Servicer and the remaining Certificateholders by the successor so
appointed. In the event that the Trustee is terminated or removed pursuant to
this Section 8.07, all of its rights and obligations under this Agreement and in
and to the Mortgage Loans shall be terminated, other than any rights or
obligations that accrued prior to the date of such termination or removal
(including the right to receive all fees, expenses and other amounts (including,
without limitation, P&I Advances and accrued interest thereon) accrued or owing
to it under this Agreement, with respect to periods prior to the date of such
termination or removal and no termination without cause shall be effective until
the payment of such amounts to the Trustee).

            (d) Any resignation or removal of the Trustee and appointment of a
successor trustee pursuant to any of the provisions of this Section 8.07 shall
not become effective until acceptance of appointment by the successor trustee as
provided in Section 8.08.

            Section 8.08. Successor Trustee.

            (a) Any successor trustee appointed as provided in Section 8.07
shall execute, acknowledge and deliver to the Depositor, the Master Servicer,
the Special Servicer and to its predecessor trustee an instrument accepting such
appointment hereunder, and thereupon the resignation or removal of the
predecessor trustee shall become effective and such successor trustee without
any further act, deed or conveyance, shall become fully vested with all the
rights, powers, duties and obligations of its predecessor hereunder, with the
like effect as if originally named as trustee herein. The predecessor trustee
shall deliver to the successor trustee all Mortgage Files and related documents
and statements held by it hereunder (other than any Mortgage Files at the time
held on its behalf by a third-party Custodian, which Custodian shall become the
agent of the successor trustee), and the Depositor, the Master Servicer, the
Special Servicer and the predecessor trustee shall execute and deliver such
instruments and do such other things as may reasonably be required to more fully
and certainly vest and confirm in the successor trustee all such rights, powers,
duties and obligations, and to enable the successor trustee to perform its
obligations hereunder.

            (b) No successor trustee shall accept appointment as provided in
this Section 8.08, unless at the time of such acceptance such successor trustee
shall be eligible under the provisions of Section 8.06 and the Rating Agencies
have provided confirmation pursuant to such Section.

            (c) Upon acceptance of appointment by a successor trustee as
provided in this Section 8.08, such successor trustee shall mail notice of the
succession of such trustee hereunder to the Depositor and the
Certificateholders.

            Section 8.09. Merger or Consolidation of Trustee.

            Any entity into which the Trustee may be merged or converted or with
which the Trustee may be consolidated or any entity resulting from any merger,
conversion or consolidation to which the Trustee shall be a party, or any entity
succeeding to the corporate trust business of the Trustee, shall be the
successor of the Trustee hereunder; provided such entity shall be eligible under
the provisions of Section 8.06 and the Rating Agencies have provided
confirmation pursuant to such Section, without the execution or filing of any
paper or any further act on the part of any of the parties hereto, anything
herein to the contrary notwithstanding.

            Section 8.10. Appointment of Co-Trustee or Separate Trustee.

            (a) Notwithstanding any other provisions hereof, at any time, for
the purpose of meeting any legal requirements of any jurisdiction in which any
part of the Trust Fund or property securing the same may at the time be located,
the Master Servicer and the Trustee acting jointly shall have the power and
shall execute and deliver all instruments to appoint one or more Persons
approved by the Trustee to act as co-trustee or co-trustees, jointly with the
Trustee, or separate trustee or separate trustees, of all or any part of the
Trust Fund, and to vest in such Person or Persons, in such capacity, such title
to the Trust Fund, or any part thereof, and, subject to the other provisions of
this Section 8.10, such powers, duties, obligations, rights and trusts as the
Master Servicer and the Trustee may consider necessary or desirable. If the
Master Servicer shall not have joined in such appointment within 15 days after
the receipt by it of a request to do so, or in case an Event of Default in
respect of the Master Servicer shall have occurred and be continuing, the
Trustee alone shall have the power to make such appointment. No co-trustee or
separate trustee hereunder shall be required to meet the terms of eligibility as
a successor trustee under Section 8.06 hereunder and no notice to Holders of
Certificates of the appointment of co-trustee(s) or separate trustee(s) shall be
required under Section 8.08 hereof.

            (b) In the case of any appointment of a co-trustee or separate
trustee pursuant to this Section 8.10, all rights, powers, duties and
obligations conferred or imposed upon the Trustee shall be conferred or imposed
upon and exercised or performed by the Trustee and such separate trustee or
co-trustee jointly, except to the extent that under any law of any jurisdiction
in which any particular act or acts are to be performed (whether as Trustee
hereunder or as successor to the Master Servicer or the Special Servicer
hereunder), the Trustee shall be incompetent or unqualified to perform such act
or acts, in which event such rights, powers, duties and obligations (including
the holding of title to the Trust Fund or any portion thereof in any such
jurisdiction) shall be exercised and performed by such separate trustee or
co-trustee at the direction of the Trustee.

            (c) Any notice, request or other writing given to the Trustee shall
be deemed to have been given to each of the then separate trustees and
co-trustees, as effectively as if given to each of them. Every instrument
appointing any separate trustee or co-trustee shall refer to this Agreement and
the conditions of this Article VIII. Each separate trustee and co-trustee, upon
its acceptance of the trusts conferred, shall be vested with the estates or
property specified in its instrument of appointment, either jointly with the
Trustee or separately, as may be provided therein, subject to all the provisions
of this Agreement, specifically including every provision of this Agreement
relating to the conduct of, affecting the liability of, or affording protection
to, the Trustee. Every such instrument shall be filed with the Trustee.

            (d) Any separate trustee or co-trustee may, at any time, constitute
the Trustee, its agent or attorney-in-fact, with full power and authority, to
the extent not prohibited by law, to do any lawful act under or in respect of
this Agreement on its behalf and in its name. If any separate trustee or
co-trustee shall cease to exist, become incapable of acting, resign or be
removed, all of its estates, properties, rights, remedies and trusts shall vest
in and be exercised by the Trustee, to the extent permitted by law, without the
appointment of a new or successor trustee.

            (e) The appointment of a co-trustee or separate trustee under this
Section 8.10 shall not relieve the Trustee of its duties and responsibilities
hereunder.

            Section 8.11. Appointment of Custodians.

            (a) The Trustee may appoint at the Trustee's expense one or more
Custodians to hold all or a portion of the Mortgage Files as agent for the
Trustee. Each Custodian shall be a depository institution supervised and
regulated by a federal or state banking authority, shall have combined capital
and surplus of at least $10,000,000, shall be qualified to do business in the
jurisdiction in which it holds any Mortgage File and shall not be the Depositor,
any Mortgage Loan Seller or any Affiliate of the Depositor or any Mortgage Loan
Seller. Neither the Master Servicer nor the Special Servicer shall have any duty
to verify that any such Custodian is qualified to act as such in accordance with
the preceding sentence. Any such appointment of a third party Custodian and the
acceptance thereof shall be pursuant to a written agreement, which written
agreement shall (i) be consistent with this Agreement in all material respects
and requires the Custodian to comply with this Agreement in all material
respects and requires the Custodian to comply with all of the applicable
conditions of this Agreement; (ii) provide that if the Trustee shall for any
reason no longer act in the capacity of Trustee hereunder (including, without
limitation, by reason of an Event of Default), the successor trustee or its
designee may thereupon assume all of the rights and, except to the extent such
obligations arose prior to the date of assumption, obligations of the Custodian
under such agreement or alternatively, may terminate such agreement without
cause and without payment of any penalty or termination fee; and (iii) not
permit the Custodian any rights of indemnification that may be satisfied out of
assets of the Trust Fund. The appointment of one or more Custodians shall not
relieve the Trustee from any of its obligations hereunder, and the Trustee shall
remain responsible and liable for all acts and omissions of any Custodian. The
initial Custodian shall be the Trustee. Notwithstanding anything herein to the
contrary, if the Trustee is no longer the Custodian, any provision or
requirement herein requiring notice or any information or documentation to be
provided to the Custodian shall be construed to require that such notice,
information or documents also be provided to the Trustee. Any Custodian
hereunder (other than the Trustee) shall at all times maintain a fidelity bond
and errors and omissions policy in amounts customary for custodians performing
duties similar to those set forth in this Agreement.

            (b) For so long as reports are required to be filed with the
Commission under the Exchange Act with respect to the Trust Fund, the Custodian
shall not utilize any Subcontractor for the performance of its duties hereunder
if such Subcontractor would be "participating in the servicing function" within
the meaning of Item 1122 of Regulation AB. The Custodian shall indemnify the
Depositor, the Sponsors and any director, officer, employee or agent of the
Depositor or the Sponsors and hold them harmless against any and all claims,
losses, damages, penalties, fines, forfeitures, reasonable and necessary legal
fees and related costs, judgments, and any other costs, fees and expenses that
any of them may sustain in any way related to the breach by the Custodian of its
obligation set forth in the preceding sentence or the failure of the Custodian
to perform any of its obligations under Section 3.13. This indemnity shall
survive the termination of this Agreement or the earlier resignation or removal
of the Custodian.

            Section 8.12. Appointment of Authenticating Agents.

            (a) The Trustee may at the Trustee's expense appoint one or more
Authenticating Agents, which shall be authorized to act on behalf of the Trustee
in authenticating Certificates. The Trustee shall cause any such Authenticating
Agent to execute and deliver to the Trustee an instrument in which such
Authenticating Agent shall agree to act in such capacity, in accordance with the
obligations and responsibilities herein. Each Authenticating Agent must be
organized and doing business under the laws of the United States of America or
of any State, authorized under such laws to do a trust business, have a combined
capital and surplus of at least $15,000,000, and be subject to supervision or
examination by federal or state authorities. Each Authenticating Agent shall be
subject to the same obligations, standard of care, protection and indemnities as
would be imposed on, or would protect, the Trustee hereunder. The appointment of
an Authenticating Agent shall not relieve the Trustee from any of its
obligations hereunder, and the Trustee shall remain responsible and liable for
all acts and omissions of the Authenticating Agent. Wells Fargo Bank, N.A. shall
be the initial Authenticating Agent. If Wells Fargo Bank, N.A. is removed as
Trustee, then Wells Fargo Bank, N.A. shall be terminated as Authenticating
Agent. If the Authenticating Agent (other than Wells Fargo Bank, N.A.) resigns
or is terminated, the Trustee shall appoint a successor Authenticating Agent
which may be the Trustee or an Affiliate thereof. In the absence of any other
Person appointed in accordance herewith acting as Authenticating Agent, the
Trustee hereby agrees to act in such capacity in accordance with the terms
hereof. Notwithstanding anything herein to the contrary, if the Trustee is no
longer the Authenticating Agent, any provision or requirement herein requiring
notice or any information or documentation to be provided to the Authenticating
Agent shall be construed to require that such notice, information or
documentation also be provided to the Trustee.

            (b) Any Person into which any Authenticating Agent may be merged or
converted or with which it may be consolidated, or any Person resulting from any
merger, conversion, or consolidation to which any Authenticating Agent shall be
a party, or any Person succeeding to the corporate agency business of any
Authenticating Agent, shall continue to be the Authenticating Agent without the
execution or filing of any paper or any further act on the part of the Trustee
or the Authenticating Agent.

            (c) Any Authenticating Agent may at any time resign by giving at
least 30 days' advance written notice of resignation to the Trustee, the
Certificate Registrar, the Master Servicer, the Special Servicer and the
Depositor. The Trustee may at any time terminate the agency of any
Authenticating Agent by giving written notice of termination to such
Authenticating Agent, the Master Servicer, the Certificate Registrar and the
Depositor. Upon receiving a notice of resignation or upon such a termination, or
in case at any time any Authenticating Agent shall cease to be eligible in
accordance with the provisions of this Section 8.12, the Trustee may appoint a
successor Authenticating Agent, in which case the Trustee shall given written
notice of such appointment to the Master Servicer, the Certificate Registrar and
the Depositor and shall mail notice of such appointment to all Holders of
Certificates; provided, however, no successor Authenticating Agent shall be
appointed unless eligible under the provisions of this Section 8.12. Any
successor Authenticating Agent upon acceptance of its appointment hereunder
shall become vested with all the rights, powers, duties and responsibilities of
its predecessor hereunder, with like effect as if originally named as
Authenticating Agent. No Authenticating Agent shall have responsibility or
liability for any action taken by it as such at the direction of the Trustee.

            Section 8.13. Access to Certain Information.

            The Trustee shall afford to the Master Servicer, the Special
Servicer, each Rating Agency and the Depositor, any Certificateholder and to the
OTS, the FDIC and any other banking or insurance regulatory authority that may
exercise authority over any Certificateholder, access to any documentation
regarding the Mortgage Loans within its control that may be required to be
provided by this Agreement or by applicable law. Such access shall be afforded
without charge but only upon reasonable prior written request and during normal
business hours at the offices of the Trustee designated by it. Upon request and
with the consent of the Depositor and at the cost of the requesting Party, the
Trustee shall provide copies of such documentation to the Depositor, any
Certificateholder and to the OTS, the FDIC and any other bank or insurance
regulatory authority that may exercise authority over any Certificateholder.

            Section 8.14. Appointment of REMIC Administrators.

            (a) The Trustee may appoint at the Trustee's expense, one or more
REMIC Administrators, which shall be authorized to act on behalf of the Trustee
in performing the functions set forth in Sections 3.17, 10.01 and 10.02 herein.
The Trustee shall cause either such REMIC Administrator to execute and deliver
to the Trustee an instrument in which such REMIC Administrator shall agree to
act in such capacity, with the obligations and responsibilities herein. The
appointment of a REMIC Administrator shall not relieve the Trustee from any of
its obligations hereunder, and the Trustee shall remain responsible and liable
for all acts and omissions of the REMIC Administrator. Each REMIC Administrator
must be acceptable to the Trustee and must be organized and doing business under
the laws of the United States of America or of any State and be subject to
supervision or examination by federal or state authorities. In the absence of
any other Person appointed in accordance herewith acting as REMIC Administrator,
the Trustee hereby agrees to act in such capacity in accordance with the terms
hereof. If Wells Fargo Bank, N.A. is removed as Trustee, then Wells Fargo Bank,
N.A. shall be terminated as REMIC Administrator.

            (b) Any Person into which any REMIC Administrator may be merged or
converted or with which it may be consolidated, or any Person resulting from any
merger, conversion, or consolidation to which any REMIC Administrator shall be a
party, or any Person succeeding to the corporate agency business of any REMIC
Administrator, shall continue to be the REMIC Administrator without the
execution or filing of any paper or any further act on the part of the Trustee
or the REMIC Administrator.

            (c) Any REMIC Administrator may at any time resign by giving at
least 30 days' advance written notice of resignation to the Trustee the
Certificate Registrar, the Trustee, the Master Servicer, the Special Servicer
and the Depositor. The Trustee may at any time terminate the agency of any REMIC
Administrator by giving written notice of termination to such REMIC
Administrator, the Master Servicer, the Certificate Registrar and the Depositor.
Upon receiving a notice of resignation or upon such a termination, or in case at
any time any REMIC Administrator shall cease to be eligible in accordance with
the provisions of this Section 8.14, the Trustee may appoint a successor REMIC
Administrator, in which case the Trustee shall given written notice of such
appointment to the Master Servicer and the Depositor and shall mail notice of
such appointment to all Holders of Certificates; provided, however, no successor
REMIC Administrator shall be appointed unless eligible under the provisions of
this Section 8.14. Any successor REMIC Administrator upon acceptance of its
appointment hereunder shall become vested with all the rights, powers, duties
and responsibilities of its predecessor hereunder, with like effect as if
originally named as REMIC Administrator. No REMIC Administrator shall have
responsibility or liability for any action taken by it as such at the direction
of the Trustee.

            Section 8.15. Representations and Warranties of Trustee.

            The Trustee hereby represents and warrants to the Master Servicer,
the Special Servicer and the Depositor and for the benefit of the
Certificateholders, as of the Closing Date, that:

            (i) The Trustee is a national banking association duly organized,
      validly existing and in good standing under the laws of the United States
      of America.

            (ii) The execution and delivery of this Agreement by the Trustee,
      and the performance and compliance with the terms of this Agreement by the
      Trustee, will not violate the Trustee's organizational documents or
      constitute a default (or an event which, with notice or lapse of time, or
      both, would constitute a default) under, or result in a material breach
      of, any material agreement or other material instrument to which it is a
      party or by which it is bound.

            (iii) Except to the extent that the laws of certain jurisdictions in
      which any part of the Trust Fund may be located require that a co-trustee
      or separate trustee be appointed to act with respect to such property as
      contemplated by Section 8.10, the Trustee has the full power and authority
      to carry on its business as now being conducted and to enter into and
      consummate all transactions contemplated by this Agreement, has duly
      authorized the execution, delivery and performance of this Agreement, and
      has duly executed and delivered this Agreement.

            (iv) This Agreement, assuming due authorization, execution and
      delivery by the other parties hereto, constitutes a valid, legal and
      binding obligation of the Trustee, enforceable against the Trustee in
      accordance with the terms hereof (including with respect to any advancing
      obligations hereunder), subject to (A) applicable bankruptcy, insolvency,
      reorganization, moratorium and other laws affecting the enforcement of
      creditors' rights generally and the rights of creditors of banks, and (B)
      general principles of equity, regardless of whether such enforcement is
      considered in a proceeding in equity or at law.

            (v) The Trustee is not in violation of, and its execution and
      delivery of this Agreement and its performance and compliance with the
      terms of this Agreement will not constitute a violation of, any law, any
      order or decree of any court or arbiter, or any order, regulation or
      demand of any federal, state or local governmental or regulatory
      authority, which violation, in the Trustee's good faith and reasonable
      judgment, is likely to affect materially and adversely the ability of the
      Trustee to perform its obligations under this Agreement.

            (vi) No litigation is pending or, to the best of the Trustee's
      knowledge, threatened against the Trustee that, if determined adversely to
      the Trustee, would prohibit the Trustee from entering into this Agreement
      or, in the Trustee's good faith and reasonable judgment, is likely to
      materially and adversely affect the ability of the Trustee to perform its
      obligations under this Agreement.

            (vii) Any consent, approval, authorization or order of any court or
      governmental agency or body required for the execution, delivery and
      performance by the Trustee of or compliance by the Trustee with this
      Agreement or the consummation of the transactions contemplated by this
      Agreement has been obtained and is effective.

            Section 8.16. Appointment of the Paying Agent.

            The Trustee may appoint a Paying Agent for the purpose of making
distributions to Certificateholders hereunder. The Trustee shall cause such
Paying Agent to execute and deliver to the Trustee an instrument in which such
Paying Agent shall agree with the Trustee that such Paying Agent will hold all
sums held by it for the payment to Certificateholders in an Eligible Account in
trust for the benefit of the Certificateholders entitled thereto until such sums
shall be paid to the Certificateholders. All funds remitted by the Trustee or
the Master Servicer to any such Paying Agent for the purpose of making
distributions shall be paid to Certificateholders on each Distribution Date and
any amounts not so paid shall be returned on such Distribution Date to the
Trustee or the Master Servicer, as applicable. Any Paying Agent shall be either
a bank or a trust company or otherwise authorized under law to exercise
corporate trust powers and shall have a short-term debt rating of at least "A-1"
and a long-term debt rating of at least "A-" by S&P or a rating of at least "A"
by Fitch or a rating of at least "A2" (or its equivalent) by Moody's or such
lower rating as will not result in qualification, downgrading or withdrawal of
the ratings then assigned to the Certificates, as evidenced in writing by the
Rating Agencies. Any such appointment of a third party Paying Agent and the
acceptance thereof shall be pursuant to a written agreement, which written
agreement shall (i) be consistent with this Agreement in all material respects
and requires the Paying Agent to comply with this Agreement in all material
respects and requires the Paying Agent to comply with all of the applicable
conditions of this Agreement; (ii) provide that if the Trustee shall for any
reason no longer act in the capacity of Trustee hereunder (including, without
limitation, by reason of an Event of Default), the successor trustee or its
designee may (A) thereupon assume all of the rights and, except to the extent
they arose prior to the date of assumption, obligations of the Paying Agent
under such agreement or (B) terminate such agreement without cause and without
payment of any penalty or termination fee; and (iii) not permit the Paying Agent
any rights or indemnification that may be satisfied out of assets of the Trust
Fund. The appointment of any Paying Agent shall not relieve the Trustee from any
of its obligations hereunder, and the Trustee shall remain responsible and
liable for all acts and omissions of any Paying Agent to the extent such Paying
Agent would have been responsible pursuant to the terms hereof. The initial
Paying Agent shall be the Trustee. Notwithstanding anything herein to the
contrary, if the Trustee is no longer the Paying Agent, any provision or
requirement herein requiring notice or any information to be provided to the
Paying Agent shall be construed to require that such notice, information or
documentation also be provided to the Trustee. If the Trustee appoints a Paying
Agent other than the Trustee, the Trustee shall promptly notify the Master
Servicer of such appointment and give to the Master Servicer the Paying Agent's
wiring instructions and notice address.

            Section 8.17. Reports to the Securities and Exchange Commission;
Available Information.

            (a) Intent of Parties. The parties hereto acknowledge and agree that
      the purpose of this Section 8.17 is to facilitate and allow compliance by
      the Depositor with the provisions of Regulation AB and related rules and
      regulations of the Commission. The Depositor, the Trustee or the Master
      Servicer shall not exercise its rights to request delivery of information
      or other performance under these provisions other than in reasonable good
      faith or for purposes other than compliance with the Securities Act, the
      Exchange Act, the Sarbanes-Oxley Act or the rules and regulations of the
      Commission thereunder; provided, however, in all instances the reports and
      certificates contemplated by Sections 3.13 and 3.14 shall be provided to
      the Rating Agencies as required thereunder. The parties hereto acknowledge
      that interpretations of the requirements of Regulation AB may change over
      time, whether due to interpretive guidance provided by the Commission or
      its staff, and agree to comply with requests made by the Depositor, the
      Trustee or the Master Servicer in reasonable good faith for delivery of
      information under these provisions on the basis of evolving
      interpretations of Regulation AB. The Master Servicer, the Special
      Servicer, any Sub-Servicer and the Trustee shall cooperate fully with the
      Depositor, the Trustee or the Master Servicer, as applicable, to deliver
      to the Depositor, the Trustee or the Master Servicer, as applicable
      (including any of their assignees or designees), any and all statements,
      reports, certifications, records and any other information necessary in
      the reasonable good faith determination of the Depositor, the Trustee or
      the Master Servicer, as applicable, to permit the Depositor to comply with
      the provisions of Regulation AB, together with such disclosures relating
      to the Master Servicer, the Special Servicer, any Additional Servicer, any
      Sub-Servicer, any Subcontractor and the Trustee, as applicable, or the
      servicing of the Mortgage Loans, reasonably believed by the Depositor or
      the Master Servicer, as applicable, to be necessary in order to effect
      such compliance. The Master Servicer, the Special Servicer, the Trustee
      and any Sub-Servicer shall have a reasonable period of time to comply with
      any request made under this Section 8.17(a) but in any event, shall, upon
      reasonable advance request, provide information in sufficient time to
      allow the Depositor to satisfy any related filing requirements.

            (b) Filing Requirements. (i) The Master Servicer, the Special
      Servicer and the Trustee shall reasonably cooperate with the Depositor in
      connection with the satisfaction of the Trust Fund's reporting
      requirements under the Exchange Act. Pursuant to Sections 8.17(i), 8.17(j)
      and 8.17(k) below, the Trustee shall prepare for execution by the
      Depositor any Forms 8-K, 10-D and 10-K required by the Exchange Act and
      the rules and regulations of the Commission thereunder, in order to permit
      the timely filing thereof, and the Trustee shall file (via the
      Commission's Electronic Data Gathering and Retrieval System) such Forms
      executed by the Depositor.

            (ii) In the event that the Trustee is unable to timely file with the
      Commission all or any required portion of any Form 8-K, 10-D or 10-K
      required to be filed by this Agreement because required disclosure
      information was either not delivered to it or delivered to it after the
      delivery deadlines set forth in this Agreement, the Trustee will promptly
      on the day such filing would be required to be made (and in any event
      prior to 1:00 p.m. New York time on such day) notify the Depositor and, to
      the extent such party failed to provide any required disclosure
      information, the Master Servicer and/or the Special Servicer, of such
      inability to make a timely filing with the Commission. In the case of Form
      10-D and 10-K, the Depositor, Master Servicer, Special Servicer and
      Trustee will cooperate to prepare and file a Form 12b-25 and a 10-D/A and
      10-K/A, as applicable, pursuant to Rule 12b-25 of the Exchange Act within
      the time period required under such Rule. In the case of Form 8-K, the
      Trustee will, upon receipt of all required Form 8-K Disclosure Information
      and upon the approval and direction of the Depositor, include such
      disclosure information on the next succeeding Form 10-D to be filed for
      the Trust Fund. In the event that any previously filed Form 8-K, 10-D or
      10-K needs to be amended, the Trustee will notify the Depositor and any
      other parties as needed and such parties agree to cooperate to prepare any
      necessary 8-K/A, 10-D/A or 10-K/A; provided however, the Trustee will not
      be required to notify the Depositor or any other party hereto in advance
      of amending Form 10-D where such amendment is solely for the purpose of
      re-stating the Distribution Date Statement. Any Form 15, Form 12b-25 or
      any amendment to Form 8-K, 10-D or 10-K shall be signed by the Depositor.
      The parties to this Agreement acknowledge that the timely preparation,
      arrangement for execution and filing of Form 15, a Form 12b-25 or any
      amendment to Form 8-K, 10-D or 10-K is dependent on such parties
      performing their duties under this Section. The Trustee shall have no
      liability for any loss, expense, damage, claim arising out of or with
      respect to any failure to properly prepare, arrange for execution and/or
      timely file any such Form 12b-25, Form 15 or any amendments to Forms 8-K,
      10-D or 10-K, where such failure results from the Trustee's inability or
      failure to receive, on a timely basis, any information from any other
      party hereto needed to prepare, arrange for execution or file such Form
      12b-25, Form 15 or any amendments to Forms 8-K, 10-D or 10-K, not
      resulting from its own negligence, bad faith or willful misconduct.

            (c) The Master Servicer, the Special Servicer, any Servicing
      Participant and the Trustee, as applicable, shall (i) upon written request
      of the Depositor, confirm in writing within 5 Business Days of receipt of
      such request that the following is true and correct, or if it is not true
      and correct to provide reasonable adequate disclosure of the pertinent
      facts, in writing, to the Depositor of any of the following, and (ii) as
      promptly as practicable following the Master Servicer, Special Servicer or
      Trustee (in each case on behalf of itself and any of its Sub-Servicers or
      Servicing Participants) obtaining actual knowledge shall use commercially
      reasonable efforts to notify the Depositor that any of the following is
      not true and correct: (A) the Master Servicer, the Special Servicer or the
      Trustee, as applicable, has not been terminated as servicer or trustee in
      a commercial mortgage loan securitization, either due to a servicing
      default or to application of a servicing performance test or trigger,
      other than as disclosed in the Prospectus Supplement; (B) no material
      noncompliance with the applicable Servicing Criteria with respect to other
      securitizations of commercial mortgage loans involving the Master
      Servicer, the Special Servicer or the Trustee, as applicable, as servicer
      or trustee has been disclosed or reported by the Master Servicer, the
      Special Servicer or the Trustee, as applicable, other than as disclosed in
      the Prospectus Supplement; (C) no material changes to the Master
      Servicer's, the Special Servicer's or the Trustee's, as applicable,
      policies or procedures with respect to the servicing function or trustee
      function it will perform under this Agreement for commercial mortgage
      loans of a type similar to the Mortgage Loans have occurred during the
      three-year period immediately preceding the Closing Date, other than as
      disclosed in the Prospectus Supplement; (D) there is no material risk that
      any aspects of the Master Servicer's, the Special Servicer's or the
      Trustee's, as applicable, financial condition could have a material impact
      on the performance of the Mortgage Loans or the Certificates, other than
      as disclosed in the Prospectus Supplement; (E) there are no legal or
      governmental proceedings pending (or known to be contemplated) against the
      Master Servicer, the Special Servicer, the Trustee or any Sub-Servicer, as
      applicable, that would be material to Certificateholders other than as
      disclosed in the Prospectus Supplement; and (F) there are no affiliations,
      relationships or transactions relating to the Master Servicer, the Special
      Servicer, the Trustee or any Sub-Servicer, as applicable, with respect to
      the issuance of the Certificates and any party thereto identified by the
      Depositor of a type described in Item 1119 of Regulation AB other than as
      disclosed in the Prospectus Supplement.

            (d) Pursuant to the 2006-C28 Pooling and Servicing Agreement, the
      Trustee shall cooperate with the 2006-C28 Master Servicer and the 2006-C28
      Special Servicer in establishing the time periods for preparation of the
      Form 10-D reports for the documentation of the requirements of Regulation
      AB with respect to the Newport Bluffs Loan (until January 30 of the first
      year in which the Trustee files a Form 15 Suspension Notice with respect
      to the Trust Fund). On or before the Closing Date, the Trustee shall
      contact the 2006-C28 Special Servicer to establish such time periods for
      preparation of the Form 10-D. The Depositor shall cooperate with the
      Trustee and take part in any telephone conferences or other forms of
      reasonable communication with the 2006-C28 Master Servicer and the
      2006-C28 Special Servicer, as applicable, to establish such time periods
      for preparation of the Form 10-D.

            (e) [Reserved].

            (f) [Reserved].

            (g) Succession; Subcontractors. As a condition to the succession to
      the Master Servicer, Special Servicer or any Servicing Participant as
      servicer or Sub-Servicer under this Agreement or any Sub-Servicing
      Agreement by any Person (i) into which the Master Servicer and Special
      Servicer or such Servicing Participant may be merged or consolidated, or
      (ii) which may be appointed as a successor to the Master Servicer, Special
      Servicer or any Servicing Participant, the Master Servicer or Special
      Servicer, as applicable, shall provide to the Depositor, at least 15
      calendar days prior to the effective date of such succession or
      appointment, (x) written notice to the Depositor of such succession or
      appointment and (y) in writing and in form and substance reasonably
      satisfactory to the Depositor, all information necessary to comply with
      the reporting requirements of Section 8.17(j) hereof.

            (h) [Reserved].

            (i) The Form 10-D requires the registrant to indicate (by checking
      "yes" or "no") that it "(1) has filed all reports required to be filed by
      Section 13 or 15(d) of the Exchange Act during the preceding 12 months (or
      for such shorter period that the registrant was required to file such
      reports), and (2) has been subject to such filing requirements for the
      past 90 days." The Depositor shall notify the Trustee in writing, no later
      than the fifth calendar day after the related Distribution Date with
      respect to the filing of a report on Form 10-D if the answer to the
      questions should be "no." The Trustee shall be entitled to rely on such
      representations in preparing, executing and/or filing any such report.
      Within 15 days after each Distribution Date (subject to permitted
      extensions under the Exchange Act), the Trustee shall prepare and file on
      behalf of the Trust Fund any Form 10-D required by the Exchange Act, in
      form and substance as required by the Exchange Act. The Trustee shall file
      each Form 10-D with a copy of the related Distribution Date Statement
      attached thereto. Any necessary disclosure in addition to the Distribution
      Date Statement that is required to be included on Form 10-D ("Additional
      Form 10-D Disclosure") shall, pursuant to the paragraph immediately below,
      be reported by the parties set forth on Exhibit U to the Depositor and the
      Trustee and approved by the Depositor, and the Trustee will have no duty
      or liability for any failure hereunder to determine or prepare any
      Additional Form 10-D Disclosure absent such reporting, direction and
      approval or as set forth in the next paragraph.

            For so long as the Trust Fund is subject to the reporting
requirements of the Exchange Act, within 5 calendar days after the related
Distribution Date, (i) the parties listed on Exhibit U hereto shall be required
to provide to the Trustee and the Depositor, to the extent a responsible officer
has actual knowledge thereof, in EDGAR-compatible format, or in such other
format as otherwise agreed upon by the Trustee and the Depositor and such party,
the form and substance of the Additional Form 10-D Disclosure described on
Exhibit U applicable to such party, (ii) the parties listed on Exhibit U hereto
shall include with such Additional Form 10-D Disclosure, an Additional
Disclosure Notification in the form attached hereto as Exhibit V and (iii) the
Depositor shall approve, as to form and substance, or disapprove, as the case
may be, the inclusion of the Additional Form 10-D Disclosure on Form 10-D. The
Trustee has no duty under this Agreement to monitor or enforce the performance
by the parties listed on Exhibit U of their duties under this paragraph or
proactively solicit or procure from such parties any Additional Form 10-D
Disclosure information. The Depositor will be responsible for any reasonable
fees assessed and any expenses incurred by the Trustee in connection with
including any Additional Form 10-D Disclosure on Form 10-D pursuant to this
paragraph.

            After preparing the Form 10-D, the Trustee shall forward
electronically a draft copy of the Form 10-D to the Depositor for review and
execution. Within two Business Days after receipt of such copy, but no later
than the 12th calendar day after the Distribution Date, the Depositor shall
notify the Trustee in writing (which may be furnished electronically) of any
changes to or approval of such Form 10-D, and a duly authorized representative
of the Depositor shall sign the Form 10-D and return an electronic or fax copy
of such signed Form 10-D (with an original executed hard copy to follow by
overnight mail) to the Trustee. If a Form 10-D cannot be filed on time or if a
previously filed Form 10-D needs to be amended, the Trustee will follow the
procedures set forth in Section 8.17(b)(ii). Promptly (but no later than 1
Business Day) after filing with the Commission, the Trustee will make available
on its internet website a final executed copy of each Form 10-D prepared and
filed by the Trustee. The signing party at the Depositor can be contacted at
Wachovia Commercial Mortgage Securities, Inc., 301 South College Street,
Charlotte, North Carolina 28288, Attention: Charles Culbreth, Managing Director,
Elizabeth Stinson, Vice President, H. Royer Culp, Jr., Vice President, Lars
Carlsten, Esq., Senior Vice President and Assistant General Counsel. The parties
to this Agreement acknowledge that the timely preparation, arrangement for
execution and filing of Form 10-D is dependent on such parties strictly
observing all applicable deadlines in the performance of their duties under this
Section 8.17(i). The Trustee shall have no liability for any loss, expense,
damage, claim arising out of or with respect to any failure to properly prepare,
arrange for execution and/or timely file such Form 10-D, where such failure
results from the Trustee's inability or failure to receive, on a timely basis,
any information from any other party hereto needed to prepare, arrange for
execution or file such Form 10-D, not resulting from its own negligence, bad
faith or willful misconduct.

            (j) Form 8-K Filings. Within four (4) Business Days after the
occurrence of an event requiring disclosure on Form 8-K (each such event, a
"Reportable Event"), and if requested by the Depositor, the Trustee shall
prepare and file on behalf of the Trust Fund any Form 8-K, as required by the
Exchange Act; provided that the Depositor shall file the initial Form 8-K in
connection with the issuance of the Certificates. Any disclosure or information
related to a Reportable Event or that is otherwise required to be included on
Form 8-K (other than the initial Form 8-K) ("Form 8-K Disclosure Information")
shall be determined and prepared by or at the direction of the Depositor
pursuant to the paragraph immediately below, be reported by the parties set
forth on Exhibit X to the Depositor and the Trustee and approved by the
Depositor, and the Trustee will have no duty or liability for any failure
hereunder to determine or prepare any Form 8-K Disclosure Information absent
such reporting, direction and approval or as set forth in the next paragraph.
The Trustee has no duty under this Agreement to enforce the performance by the
parties listed on Exhibit X of their duties under this paragraph or proactively
solicit or procure from such parties any Form 8-K Disclosure Information.

            For so long as the Trust Fund is subject to the reporting
requirements of the Exchange Act, no later than Noon (Eastern Time) on the
second Business Day after the occurrence of a Reportable Event (i) the parties
listed on Exhibit X hereto shall be required to provide to the Trustee and the
Depositor, to the extent a responsible officer has actual knowledge thereof, in
EDGAR-compatible format, or in such other format as otherwise agreed upon by the
Trustee and the Depositor and such party, the form and substance of the Form 8-K
Disclosure Information described on Exhibit X applicable to such party, (ii) the
parties listed on Exhibit X hereto shall include with such Additional Form 8-K
Disclosure, an Additional Disclosure Notification in the form attached hereto as
Exhibit V, and (iii) the Depositor will approve, as to form and substance, or
disapprove, as the case may be, the inclusion of the Form 8-K Disclosure
Information on Form 8-K; provided that to the extent possible, the Trustee shall
take commercially reasonable efforts to meet the filing requirements set forth
herein notwithstanding the failure of any other party to comply with its
delivery requirements in a timely fashion. The Depositor will be responsible for
any reasonable fees assessed and any expenses incurred by the Trustee in
connection with including any Form 8-K Disclosure Information on Form 8-K
pursuant to this paragraph.

            After preparing the Form 8-K, the Trustee shall forward, no later
than noon (Eastern Time) on the third Business Day after the Reportable Event
(but in no event earlier than 24 hours after having received the Form 8-K
Disclosure Information pursuant to the immediately preceding paragraph),
electronically a copy of the Form 8-K to the Depositor for review. Promptly, but
no later than the close of business on the third Business Day after the
Reportable Event, the Depositor shall notify the Trustee in writing (which may
be furnished electronically) of any changes to or approval of such Form 8-K. No
later than Noon (Eastern Time) on the 4th Business Day after the Reportable
Event, a duly authorized representative of the Depositor shall sign the Form 8-K
and return an electronic or fax copy of such signed Form 8-K (with an original
executed hard copy to follow by overnight mail) to the Trustee. The Trustee
shall file the Form 8-K no later than the close of business on the fourth
Business Day; otherwise, if a Form 8-K cannot be filed on time or if a
previously filed Form 8-K needs to be amended, the Trustee will follow the
procedures set forth in Section 8.17(b)(ii). Promptly (but no later than 1
Business Day) after filing with the Commission, the Trustee will make available
on its internet website a final executed copy of each Form 8-K prepared and
filed by the Trustee. The signing party at the Depositor can be contacted at
Wachovia Commercial Mortgage Securities, Inc., 301 South College Street,
Charlotte, North Carolina 28288, Attention: Managing Director. The parties to
this Agreement acknowledge that the timely preparation, arrangement for
execution and filing of Form 8-K is dependent on such parties strictly observing
all applicable deadlines in the performance of their duties under this Section
8.17(i). The Trustee shall have no liability for any loss, expense, damage,
claim arising out of or with respect to any failure to properly prepare, arrange
for execution and/or timely file such Form 8-K, where such failure results from
the Trustee's inability or failure to receive, on a timely basis, any
information from any other party hereto needed to prepare, arrange for execution
or file such Form 8-K, not resulting from its own negligence, bad faith or
willful misconduct.

            Notwithstanding the timeframe set forth in the second previous
paragraph, the Master Servicer, the Special Servicer and the Trustee shall use
reasonable efforts to promptly notify (and the Master Servicer and the Special
Servicer shall use reasonable efforts to cause each Sub-Servicer and each
Servicing Participant with which, in each case, it has entered into a
relationship with respect to the Mortgage Loans (other than a party to this
Agreement) to promptly notify) the Depositor and the Trustee, on the first
Business Day after its occurrence, of any Reportable Event of which it has
actual knowledge.

            (k) Form 10-K Filings. (i) Form 10-K requires the registrant to
      indicate (by checking "yes" or "no") that it "(1) has filed all reports
      required to be filed by Section 13 or 15(d) of the Exchange Act during the
      preceding 12 months (or for such shorter period that the registrant was
      required to file such reports), and (2) has been subject to such filing
      requirements for the past 90 days." The Depositor shall notify the Trustee
      in writing, no later than March 15th of any year in which a Form 10-K will
      be filed in respect of the Trust Fund if the answer to the questions
      should be "no." The Trustee shall be entitled to rely on such
      representations in preparing, executing and/or filing any such report.
      Within 90 days after the end of each fiscal year of the Trust Fund or such
      earlier date as may be required by the Exchange Act (the "10-K Filing
      Deadline") (it being understood that the fiscal year for the Trust Fund
      ends on December 31st of each year), commencing in March 2007, the Trustee
      shall prepare and file on behalf of the Trust Fund a Form 10-K, in form
      and substance as required by the Exchange Act. Each such Form 10-K shall
      include the following items, in each case to the extent they have been
      delivered to the Trustee within the applicable time frames set forth in
      this Agreement:

            (ii) an annual compliance statement for the Master Servicer, the
      Special Servicer and each Additional Servicer engaged by the Master
      Servicer, the Special Servicer or the Trustee, as applicable as described
      under Section 3.13(b);

            (iii) (A) the annual reports on assessment of compliance with
      Relevant Servicing Criteria for the Master Servicer, the Special Servicer,
      each Additional Servicer, each Sub-Servicer and the Trustee, and any
      Servicing Participant engaged by such parties, as described under Section
      3.13(a), and (B) if any such report on assessment of compliance with
      Relevant Servicing Criteria described under Section 3.13(a) identifies any
      material instance of noncompliance, disclosure identifying such instance
      of noncompliance, or if such report on assessment of compliance with
      Relevant Servicing Criteria described under Section 3.13(a) is not
      included as an exhibit to such Form 10-K, disclosure that such report is
      not included and an explanation why such report is not included;

            (iv) (A) the registered public accounting firm attestation report
      for the Master Servicer, the Special Servicer, each Additional Servicer,
      the Trustee, each Sub-Servicer engaged by the Master Servicer or Special
      Servicer and any Servicing Participant engaged by such parties, as
      described under Section 3.14, and (B) if any registered public accounting
      firm attestation report described under Section 3.14 identifies any
      material instance of noncompliance, disclosure identifying such instance
      of noncompliance, or if any such registered public accounting firm
      attestation report is not included as an exhibit to such Form 10-K,
      disclosure that such report is not included and an explanation why such
      report is not included; and

            (v) a certification in the form attached hereto as Exhibit O, with
      such changes as may be necessary or appropriate as a result of changes
      promulgated by the Commission (the "Sarbanes-Oxley Certification"), which
      shall, except as described below, be signed by the senior officer of the
      Depositor in charge of securitization.

            Any disclosure or information in addition to (ii) through (v) above
that is required to be included on Form 10-K ("Additional Form 10-K Disclosure")
shall, pursuant to the paragraph immediately below, be reported by the parties
set forth on Exhibit W to the Depositor and the Trustee and approved by the
Depositor, and the Trustee will have no duty or liability for any failure
hereunder to determine or prepare any Additional Form 10-K Disclosure absent
such reporting, direction and approval or as set forth in the next paragraph.

            For so long as the Trust Fund is subject to the reporting
requirements of the Exchange Act, no later than March 15 (with no cure period),
commencing in March 2007 (i) the parties listed on Exhibit W hereto shall be
required to provide to the Trustee and the Depositor, to the extent a
responsible officer has actual knowledge thereof, in EDGAR-compatible format, or
in such other format as otherwise agreed upon by the Trustee and the Depositor
and such party, the form and substance of the Additional Form 10-K Disclosure
described on Exhibit W applicable to such party, (ii) the parties listed on
Exhibit W hereto shall include with such Additional Form 10-K Disclosure, an
Additional Disclosure Notification in the form attached hereto as Exhibit V, and
(iii) the Depositor will approve, as to form and substance, or disapprove, as
the case may be, the inclusion of the Additional Form 10-K Disclosure on Form
10-K. The Trustee has no duty under this Agreement to enforce the performance by
the parties listed on Exhibit W of their duties under this paragraph or
proactively solicit or procure from such parties any Additional Form 10-K
Disclosure information. The Depositor will be responsible for any reasonable
fees assessed and any expenses incurred by the Trustee in connection with
including any Additional Form 10-K Disclosure on Form 10-K pursuant to this
paragraph.

            After preparing the Form 10-K, the Trustee shall forward
electronically a copy of the Form 10-K to the Depositor for review no later than
March 23rd of each year in which the Trust Fund is required to file a Form 10-K.
Within 3 Business Days after receipt of such copy, but no later than March 25th,
the Depositor shall notify the Trustee in writing (which may be furnished
electronically) of any changes to or approval of such Form 10-K. No later than
end of business Eastern Time on the fourth Business Day prior to the 10-K Filing
Deadline, a senior officer of the Depositor in charge of securitization shall
sign the Form 10-K and return an electronic or fax copy of such signed Form 10-K
(with an original executed hard copy to follow by overnight mail) to the
Trustee. If a Form 10-K cannot be filed on time or if a previously filed Form
10-K needs to be amended, the Trustee will follow the procedures set forth in
Section 8.17(b)(ii). Promptly (but no later than 1 Business Day) after filing
with the Commission, the Trustee will make available on its internet website a
final executed copy of each Form 10-K prepared and filed by the Trustee. The
signing party at the Depositor can be contacted at Wachovia Commercial Mortgage
Securities, Inc., 301 South College Street, Charlotte, North Carolina 28288,
Attention: Charles Culbreth, Managing Director, Elizabeth Stinson, Vice
President, H. Royer Culp, Jr., Vice President, Lars Carlsten, Esq., Senior Vice
President and Assistant General Counsel. The parties to this Agreement
acknowledge that the timely preparation, arrangement for execution and filing of
Form 10-K is dependent on such parties (and any Additional Servicer or Servicing
Participant) observing all applicable deadlines in the performance of their
duties under this Section 8.17(k), Section 3.13 and Section 3.14. The Trustee
shall have no liability for any loss, expense, damage, claim arising out of or
with respect to any failure to properly prepare, arrange for execution and/or
timely file such Form 10-K, where such failure results from the Trustee's
inability or failure to receive, on a timely basis, any information from any
other party hereto needed to prepare, arrange for execution or file such Form
10-K, not resulting from its own negligence, bad faith or willful misconduct.

            In the event the Master Servicer, the Special Servicer or the
Trustee is terminated or resigns pursuant to the terms of this Agreement, such
party shall provide, and each such party shall cause any Servicing Participant
engaged by it to provide, and the Master Servicer shall use its reasonable
efforts to cause any Additional Servicer to provide, a Back-Up Certification to
the Certifying Person pursuant to this Section 8.17(k) with respect to the
period of time that the Master Servicer, the Special Servicer or the Trustee was
subject to this Agreement.

            Each of the parties acknowledges and agrees that one of the purposes
of this Agreement is to facilitate compliance by the Depositor with the
provisions of Regulation AB. Therefore, each of the parties agrees that (a) the
obligations of the parties hereunder shall be interpreted in such a manner as to
accomplish that purpose, (b) the parties' obligations hereunder will be
supplemented and modified as necessary to be consistent with any such
amendments, interpretive advice or guidance, convention or consensus among
active participants in the asset-backed securities markets, advice of counsel,
or otherwise in respect of the requirements of Regulation AB, (c) the parties
shall comply with requests made by the Depositor for delivery of additional or
different information as the Trustee or the Depositor may determine in good
faith is necessary to comply with the provisions of Regulation AB, and (d) no
amendment of this Agreement shall be required to effect any such changes in the
parties' obligations as are necessary to accommodate evolving interpretations of
the provisions of Regulation AB.

            (l) Indemnification. (i) The Trustee shall indemnify and hold
harmless the Depositor, the Master Servicer, the Special Servicer and any
Servicing Participant and each of their respective officers, directors and
Affiliates from and against any losses, damages, penalties, fines, forfeitures,
reasonable and necessary legal fees and related costs, judgments and other costs
and expenses arising out of or based upon a breach of the Trustee's obligations
under Sections 3.13, 3.14 or 8.17, and (ii) the Master Servicer, Special
Servicer and any Servicing Participant shall each severally and not jointly
indemnify and hold harmless the Depositor, the Trustee and, in the case of each
of the Master Servicer, the Special Servicer and any Servicing Participant, each
of the other such parties, and all their respective officers, directors and
Affiliates from and against any losses, damages, penalties, fines, forfeitures,
reasonable and necessary legal fees and related costs, judgments and other costs
and expenses arising out of or based upon a breach (following the expiration of
any applicable notice, grace and cure periods) of the Master Servicer's, Special
Servicer's or Servicing Participant's obligations, as the case may be, under
Sections 3.13, 3.14 or 8.17. If the indemnification provided for herein is
unavailable or insufficient to hold harmless any party receiving the benefit of
such indemnification (an "Indemnified Party"), then (i) the Trustee agrees that
it shall contribute to the amount paid or payable to the Indemnified Party as a
result of the losses, claims, damages or liabilities of such party in such
proportion as is appropriate to reflect the relative fault of the Indemnified
Party on the one hand and the Trustee on the other in connection with a breach
(following the expiration of any applicable grace periods) of the Trustee's
obligations under Sections 3.13, 3.14 or 8.17, (ii) the Master Servicer agrees
that it shall contribute to the amount paid or payable to the Indemnified Party
as a result of the losses, claims, damages or liabilities of the Indemnified
Party in such proportion as is appropriate to reflect the relative fault of the
Indemnified Party on the one hand and the Master Servicer on the other in
connection with a breach (following the expiration of any applicable grace
periods) of the Master Servicer's obligations under Sections 3.13, 3.14 or 8.17,
(iii) the Special Servicer agrees that it shall contribute to the amount paid or
payable by the Indemnified Party as a result of the losses, claims, damages or
liabilities of the Indemnified Party in such proportion as is appropriate to
reflect the relative fault of the Indemnified Party on the one hand and the
Special Servicer on the other in connection with a breach (following the
expiration of any applicable grace periods) of the Special Servicer's
obligations under Sections 3.13, 3.14 or 8.17, and (iv) the Master Servicer, the
Special Servicer or the Trustee, as applicable, shall use its best efforts to
cause any Servicing Participant engaged by it to contribute to the amount paid
or payable by the Indemnified Party as a result of the losses, claims, damages
or liabilities of the Indemnified Party in such proportion as is appropriate to
reflect the relative fault of the Indemnified Party on the one hand and such
Servicing Participant on the other in connection with a breach (following the
expiration of any applicable grace periods) of such Servicing Participant's
obligations under Sections 3.13, 3.14 or 8.17. Notwithstanding the foregoing,
none of the Trustee, the Master Servicer, the Special Servicer or any Servicing
Participant shall be deemed to not be in compliance under this Agreement for
purposes of this Section 8.17(l), for failing to deliver any item required under
Section 8.17 by the time required hereunder with respect to any reporting period
for which the Trust Fund is not required to file Exchange Act reports (which
reporting periods will include any occurring after the Trustee files the Form 15
Suspension Notification relating to the automatic suspension of reporting in
respect of the Trust Fund under the Exchange Act).

            (m) Form 15 Filing. On or prior to January 30 of the first year in
which the Trustee is able to do so under applicable law, the Trustee shall
prepare and file a Form 15 Suspension Notification relating to the automatic
suspension of reporting in respect of the Trust Fund under the Exchange Act. If
at the beginning of any fiscal year for the Trust Fund after the filing of a
Form 15 Suspension Notification, the number of holders of record of the
Certificates exceeds the number set forth in Section 15(d) of the Exchange Act
or the regulations promulgated pursuant thereto which would cause the Trust Fund
to again become subject to the reporting requirements of the Exchange Act, the
Trustee shall recommence preparing and filing reports on Forms 10-K, 10-D and
8-K as required pursuant to this Section 8.17 and each of the Master Servicer,
the Special Servicer and the Trustee and any other Person specified herein shall
again be subject to the delivery and notice requirements set forth herein
regarding the Depositor's compliance with Exchange Act reporting requirements;
provided that if the Trustee re-commences the preparing and filing of Exchange
Act reports, it may, as soon as permitted by the Exchange Act, file another Form
15 Suspension Notification.

            (n) Sarbanes-Oxley Certification. Each Form 10-K shall include a
Sarbanes-Oxley Certification in the form attached as Exhibit O required to be
included therewith pursuant to the Sarbanes-Oxley Act. The Trustee shall provide
to the Person who signs the Sarbanes-Oxley Certification (the "Certifying
Person") a certification (in the form attached hereto as Exhibit P) for the
benefit of the Depositor and its officers, directors and Affiliates (provided,
however, the Trustee shall not undertake an analysis of the accountant's report
attached as an exhibit to the Form 10-K). The Master Servicer and the Special
Servicer shall, and the Master Servicer and the Special Servicer shall cause
each Servicing Participant with which it has entered into a servicing
relationship with respect to the Mortgage Loans to, provide to the Certifying
Person a certification in the form attached hereto as Exhibit Q-1 and Exhibit
Q-2, as applicable, on which the Certifying Person, the entity for which the
Certifying Person acts as an officer (if the Certifying Person is an
individual), and such entity's officers, directors and Affiliates (collectively
with the Certifying Person, "Certification Parties") can reasonably rely. In
addition, in the event that either of the Centro Syndicate 2 Pool Future Pari
Passu Companion Loan, if advanced, or the Centro International Wholesale Pool
Future Pari Passu Companion Loan, if advanced, is deposited into a commercial
mortgage securitization, each Reporting Party shall provide to the Person who
signs the Sarbanes-Oxley Certification with respect to the other related
securitization, a Performance Certification (which shall address the matters
contained in the Performance Certification, but solely with respect to the
related Pari Passu Companion Loan) on which such Person, the entity for which
the Person acts as an officer (if the Person is an individual), and such
entity's officers, directors and Affiliates can reasonably rely. The senior
officer in charge of the Depositor shall serve as the Certifying Person on
behalf of the Trust Fund. In addition, each Reporting Party shall execute a
reasonable reliance certificate to enable the Certification Parties to rely upon
each (i) annual compliance statement provided pursuant to Section 3.13(a), (ii)
annual report on assessment of compliance with servicing criteria provided
pursuant to Section 3.13(b) and (iii) accountant's report provided pursuant to
Section 3.14, and shall include a certification that each such annual compliance
statement or report discloses any material instances of non-compliance described
to the registered public accountants of such Reporting Party to enable such
accountants to render the certificates provided for in Section 3.14. In the
event any Reporting Party is terminated or resigns pursuant to the terms of this
Agreement, or any applicable Sub-Servicing Agreement or primary servicing
agreement, as the case may be, such Reporting Party shall provide a
certification to the Certifying Person pursuant to this Section 8.17(n) with
respect to the period of time it was subject to this Agreement or the applicable
Sub-Servicing Agreement or primary servicing agreement, as the case may be.

            With respect to any notice required to be delivered by the Trustee
to the Depositor pursuant to this Section 8.17, the Trustee may deliver such
notice, notwithstanding any contrary provision in Section 11.05, via facsimile
to (704) 715-0066, via email to charles.culbreth@wachovia.com and
royer.culp@wachovia.com or via telephone by calling (704) 383-7721. With respect
to any notice required to be delivered by the Trustee to the Special Servicer
pursuant to this Section 8.17, the Trustee may deliver such notice,
notwithstanding any contrary provision in Section 11.05, via facsimile to Randy
Wolpert at (305) 695-5601, Thomas Nealon, Esq. at (305) 695-5601 and Javier
Benedit at (305) 695-5199, via email to rwolpert@lnrproperty.com,
tnealon@lnrproperty.com and jbenedit@lnrproperty.com or via telephone by calling
(305) 695-5600.

            (o) If the Centro Syndicate 2 Pool Future Pari Passu Companion Loan,
if advanced, or the Centro International Wholesale Future Pari Passu Companion
Loan, if advanced, is then included in a securitization, the Master Servicer and
the Special Servicer shall reasonably cooperate with the related trustee,
depositor, master servicer and special servicer with respect to such
securitization(s) in connection with the reporting requirements under the
Exchange Act and shall provide such certifications (including without limitation
back-up certificates relating to the requirements of the Sarbanes-Oxley Act) as
reasonably requested; provided that no such cooperation shall materially
increase the obligations of the Master Servicer and/or the Special Servicer
under this Agreement; provided, further, to the extent the Master Servicer or
the Special Servicer deliver certifications in substantially the same form as
the certifications required to be delivered under this Agreement, such party
shall be deemed to be in compliance with the provisions of this Section 8.17(o).

            (p) Amendments. Sections 3.13, 3.14 and 8.17 may be amended by the
written consent of the parties hereto pursuant to Section 11.01 for purposes of
complying with Regulation AB and/or to conform to standards developed within the
commercial mortgage-backed securities market and the Sarbanes-Oxley Act or for
purposes of designating the Certifying Person without any Opinions of Counsel,
Officer's Certificates, Rating Agency confirmations or the consent of any
Certificateholder, notwithstanding anything to the contrary contained in this
Agreement; provided that the reports and certificates required to be prepared
pursuant to Sections 3.13 and 3.14 shall not be eliminated.

            Section 8.18. Maintenance of Mortgage File.

            Except for the release of items in the Mortgage File contemplated by
this Agreement, including, without limitation, as necessary for the enforcement
of the holder's rights and remedies under the related Mortgage Loan, the Trustee
covenants and agrees that it shall maintain each Mortgage File in the State of
Minnesota, and that it shall not move any Mortgage File outside the State of
Minnesota, other than as specifically provided for in this Agreement, unless it
shall first obtain and provide, at the expense of the Trustee, an Opinion of
Counsel to the Depositor and the Rating Agencies to the effect that the
Trustee's first priority interest in the Mortgage Notes has been duly and fully
perfected under the applicable laws and regulations of such other jurisdiction.

                                   ARTICLE IX

                                   TERMINATION

            Section 9.01. Termination Upon Repurchase or Liquidation of All
Mortgage Loans.

            Subject to Section 9.02, the Trust Fund and the respective
obligations and responsibilities under this Agreement of the Depositor, the
Master Servicer, the Special Servicer and the Trustee (other than the
obligations of the Trustee on behalf of the Trust Fund to provide for and make
payments to Certificateholders as hereafter set forth) shall terminate upon
payment (or provision for payment) (i) to the Certificateholders of all amounts
held by or on behalf of the Trustee and required hereunder to be so paid on the
Distribution Date following the earlier to occur of (A) the purchase by the
Master Servicer, the Special Servicer or the Majority Subordinate
Certificateholder of all Mortgage Loans, the REO Loan related to the 2006-C28
Serviced Mortgage Loan, if any, and each REO Property remaining in REMIC I at a
price equal to (1) the aggregate Purchase Price of all the Mortgage Loans
included in REMIC I, plus (2) the appraised value of the Trust Fund's interest
in each REO Property (other than the Trust Fund's beneficial interest in any REO
Property related to the 2006-C28 Serviced Mortgage Loan), if any, included in
REMIC I, such appraisal to be conducted by an Independent Appraiser selected by
the Master Servicer and approved by the Trustee plus (3) with respect to any REO
Property related to the 2006-C28 Serviced Mortgage Loan, the appraised value of
such REO Property (based on an appraisal conducted in accordance with the
2006-C28 Pooling and Servicing Agreement of the Mortgaged Property owned by the
2006-C28 Trustee on behalf of the owners thereof), based on the outstanding
principal balances of the notes constituting the Newport Bluffs Whole Loan,
minus (4) if the purchaser is the Master Servicer, the aggregate amount of
unreimbursed Advances made by the Master Servicer, together with any interest
accrued and payable to the Master Servicer in respect of unreimbursed Advances
in accordance with Sections 3.03(d) and 4.03(d) and any unpaid Master Servicing
Fees remaining outstanding (which items shall be deemed to have been paid or
reimbursed to the Master Servicer in connection with such purchase), and (B) the
final payment or other liquidation (or any advance with respect thereto) of the
last Mortgage Loan or REO Property remaining in REMIC I, and (ii) to the
Trustee, the Master Servicer, the Special Servicer and the officers, directors,
employees and agents of each of them of all amounts which may have become due
and owing to any of them hereunder; provided, however, in no event shall the
Trust Fund created hereby continue beyond the expiration of 21 years from the
death of the last survivor of the descendants of Joseph P. Kennedy, the late
ambassador of the United States to the Court of St. James, living on the date
hereof.

            Subject in each case to the terms of the related Intercreditor
Agreement, the obligations and responsibilities under this Agreement of the
Depositor, the Master Servicer, the Special Servicer, the Trustee, and the
Companion Paying Agent shall terminate with respect to any Companion Loan to the
extent (i) its related Co-Lender Loan has been paid in full or is no longer part
of the Trust Fund and (ii) no amounts payable by the related Companion Holder to
or for the benefit of the Trust Fund or any party hereto in accordance with the
related Intercreditor Agreement remain due and owing.

            The Master Servicer, the Special Servicer or the Majority
Subordinate Certificateholder may at its option elect to purchase all of the
Mortgage Loans and the Trust Fund's interest in each REO Property remaining in
REMIC I as contemplated by clause (i) of the preceding paragraph by giving
written notice to the other parties hereto no later than 60 days prior to the
anticipated date of purchase; provided, however, (i) the aggregate Stated
Principal Balance of the Mortgage Pool at the time of such election is less than
1.0% of the aggregate Cut-Off Date Balances of the Mortgage Loans, and (ii) the
Master Servicer shall not have the right to effect such a purchase if, within 30
days following the Master Servicer's delivery of a notice of election pursuant
to this paragraph, the Special Servicer or the Majority Subordinate
Certificateholder shall give notice of its election to purchase all of the
Mortgage Loans and each REO Property remaining in REMIC I and shall thereafter
effect such purchase in accordance with the terms hereof. The Master Servicer or
the Special Servicer shall not have the right to effect such a purchase if,
within 30 days following the Master Servicer's or the Special Servicer's
delivery of a notice of election pursuant to this paragraph, the Majority
Subordinate Certificateholder shall give notice of its election to purchase all
of the Mortgage Loans and the Trust Fund's interest in each REO Property
remaining in REMIC I and shall thereafter effect such purchase in accordance
with the terms hereof. If the Trust Fund is to be terminated in connection with
the Master Servicer's, the Special Servicer's or the Majority Subordinate
Certificateholder's purchase of all of the Mortgage Loans and the Trust Fund's
interest in each REO Property remaining in REMIC I, the Master Servicer, the
Special Servicer or the Majority Subordinate Certificateholder, as applicable,
shall deliver to the Paying Agent for deposit in the Distribution Account not
later than the P&I Advance Date relating to the Distribution Date on which the
final distribution on the Certificates is to occur an amount in immediately
available funds equal to the above-described purchase price. In addition, the
Master Servicer shall transfer to the Distribution Account all amounts required
to be transferred thereto on such P&I Advance Date from the Certificate Account
pursuant to the first paragraph of Section 3.04(b), together with any other
amounts on deposit in the Certificate Account that would otherwise be held for
future distribution. Upon confirmation that such final deposit has been made,
the Trustee shall release or cause to be released to the Master Servicer, the
Special Servicer, the Majority Subordinate Certificateholder, as applicable, the
Mortgage Files for the remaining Mortgage Loans and shall execute all
assignments, endorsements and other instruments furnished to it by the Master
Servicer, the Special Servicer or the Majority Subordinate Certificateholder, as
applicable, as shall be necessary to effectuate the transfer of the Mortgage
Loans and REO Properties to the Master Servicer, the Special Servicer or the
Majority Subordinate Certificateholder (or their respective designees), and, in
the case of a Loan Pair, to the related Companion Holder, as applicable. Any
transfer of Mortgage Loans to the Depositor pursuant to this paragraph shall be
on a servicing-released basis.

            Notice of any termination shall be given promptly by the Trustee by
letter to the Certificateholders mailed (a) if such notice is given in
connection with the Master Servicer's, the Special Servicer's or the Majority
Subordinate Certificateholder's purchase of the Mortgage Loans and the Trust
Fund's interest in each REO Property remaining in REMIC I, not earlier than the
15th day and not later than the 25th day of the month next preceding the month
of the final distribution on the Certificates or (b) otherwise during the month
of such final distribution on or before the Determination Date in such month, in
each case specifying (i) the Distribution Date upon which the Trust Fund will
terminate and final payment of the Certificates will be made, (ii) the amount of
any such final payment and (iii) that the Record Date otherwise applicable to
such Distribution Date is not applicable, payments being made only upon
presentation and surrender of the Certificates at the offices of the Certificate
Registrar or such other location therein designated. The Trustee shall give such
notice to the Master Servicer, the Special Servicer and the Depositor at the
time such notice is given to Certificateholders.

            Upon presentation and surrender of the Certificates by the
Certificateholders on the final Distribution Date, the Paying Agent shall
distribute to each Certificateholder so presenting and surrendering its
Certificates such Certificateholder's Percentage Interest of that portion of the
amounts then on deposit in the Distribution Account that are allocable to
payments on the Class of Certificates so presented and surrendered. Amounts on
deposit in the Distribution Account as of the final Distribution Date, exclusive
of any portion thereof that would be payable to any Person in accordance with
clauses (ii) through (vii) of Section 3.05(b), including any portion thereof
that represents Prepayment Premiums and Yield Maintenance Charges, shall be (i)
deemed distributed in respect of the REMIC I Regular Interests and distributed
to the Class R-I Certificates in accordance with Section 4.01(b), Section
4.01(h), Section 4.01(i) and Section 4.01(l) and (ii) distributed to the REMIC
II Certificates in the order of priority set forth in Section 4.01(a), Section
4.01(b), Section 4.01(c), Section 4.01(d), Section 4.01(i) and Section 4.01(l)
in each case, to the extent of remaining available funds.

            On or after the Final Distribution Date, upon presentation and
surrender of the Class Certificates, the Paying Agent shall distribute to the
Class Z Certificateholders any amount then on deposit in the Additional Interest
Account that was paid on a Mortgage Loan.

            Any funds not distributed to any Holder or Holders of Certificates
of such Class on such Distribution Date because of the failure of such Holder or
Holders to tender their Certificates shall, on such date, be set aside and held
uninvested in trust and credited to the account or accounts of the appropriate
non-tendering Holder or Holders. If any Certificates as to which notice has been
given pursuant to this Section 9.01 shall not have been surrendered for
cancellation within six months after the time specified in such notice, the
Paying Agent shall mail a second notice to the remaining non-tendering
Certificateholders to surrender their Certificates for cancellation in order to
receive the final distribution with respect thereto. If within one year after
the second notice all such Certificates shall not have been surrendered for
cancellation, the Paying Agent, directly or through an agent, shall take such
reasonable steps to contact the remaining non-tendering Certificateholders
concerning the surrender of their Certificates as it shall deem appropriate, and
shall deal with all such unclaimed amounts in accordance with applicable law.
The costs and expenses of holding such funds in trust and of contacting such
Certificateholders following the first anniversary of the delivery of such
second notice to the non-tendering Certificateholders shall be paid out of such
funds. No interest shall accrue or be payable to any former Holder on any amount
held in trust hereunder.

            After the Registered Certificates and the Class A-1A Certificates
have been paid in full and the remaining outstanding Certificates (other than
the Class Z, Class R-I and Class R-II Certificates) are held by a single
Certificateholder, such Certificateholder shall have the right to exchange all
of the Certificates held thereby for all of the Mortgage Loans and the Trust
Fund's interest in each REO Property remaining in the Trust Fund by giving
written notice to all parties hereto no later than 30 days prior to the
anticipated date of exchange.

            In the event that such Certificateholder shall elect to exchange all
of the Certificates held thereby for all of the Mortgage Loans held by REMIC I
and the Trust Fund's interest in each REO Property remaining in REMIC I in
accordance with the preceding sentence, such Certificateholder, not later than
the date on which the final distribution on the Certificates is to occur, shall
deposit in the Certificate Account an amount in immediately available funds
equal to all amounts then due and owing to the Master Servicer, the Special
Servicer, the Trustee, the Paying Agent, the Certificate Registrar and/or the
REMIC Administrator hereunder. Upon confirmation that such final deposits have
been made and following the surrender of all the Certificates held by such
Certificateholder on the final Distribution Date, the Custodian, on behalf of
the Trustee, shall release or cause to be released to such Certificateholder the
Mortgage Files for the remaining Mortgage Loans, and the Trustee shall execute
all assignments, endorsements and other instruments furnished to it by such
Certificateholder as shall be necessary to effectuate transfer of the Mortgage
Loans and REO Properties remaining in the Trust Fund. Thereafter, the Trust Fund
and the respective obligations and responsibilities under this Agreement of the
Depositor, the Master Servicer, the Special Servicer, the Trustee, the REMIC
Administrator (other than annual tax returns and maintenance of books and
records and the preparation and filing of final tax returns) and the Paying
Agent shall terminate. Such transfers shall be subject to any rights of any
Sub-Servicers to primary service (or to perform select servicing functions with
respect to) the Mortgage Loans. For federal income tax purposes, the
Certificateholder shall be deemed to have purchased the assets of REMIC I for an
amount equal to the unpaid principal balance, plus accrued unpaid interest, of
such Mortgage Loan(s) (other than the defaulted Mortgage Loan(s) or the Trust
Fund's interest in such REO Property in REMIC I, and the fair market value of
any defaulted Mortgage Loans in REMIC I or the Trust Fund's interest in an REO
Property in REMIC I, without duplication of amounts deposited pursuant to the
fourth preceding sentence of this paragraph, and such amounts shall be deemed to
have been paid or distributed in accordance with Section 4.01(a), Section
4.01(b), Section 4.01(h) and Section 4.01(i).

            In the case of any Loan Pair, references in this Section 9.01 and
Section 9.02 to "REO Property" shall include only the Trust's proportionate
interest in such REO Property and not the interest of the Companion Holder(s)
therein.

            Section 9.02. Additional Termination Requirements.

            (a) If the Master Servicer, the Special Servicer or the Majority
      Subordinate Certificateholders purchase all of the Mortgage Loans and the
      Trust Fund's interest in each REO Property (or beneficial interest in an
      REO Property related to the 2006-C28 Serviced Mortgage Loan) remaining in
      REMIC I as provided in Section 9.01, the Trust Fund (and, accordingly,
      either of REMIC I or REMIC II) shall be terminated in accordance with the
      following additional requirements, unless the Person effecting the
      purchase obtains at its own expense and delivers to the Trustee and, in
      the case of the Depositor, to the Trustee and the Master Servicer, an
      Opinion of Counsel, addressed to the Trustee and the Master Servicer, to
      the effect that the failure of the Trust Fund to comply with the
      requirements of this Section 9.02 will not result in the imposition of
      taxes on "prohibited transactions" of either of REMIC I or REMIC II as
      defined in Section 860F of the Code or cause either of REMIC I or REMIC II
      to fail to qualify as a REMIC at any time that any Certificates are
      outstanding:

            (i) the Trustee shall specify the first day in the 90-day
      liquidation period in a statement attached to the final Tax Return for
      REMIC I and REMIC II pursuant to Treasury Regulations Section 1.860F-1;

            (ii) during such 90-day liquidation period and at or prior to the
      time of making of the final payment on the Certificates, the Trustee shall
      sell all of the assets of REMIC I to the Master Servicer, the Special
      Servicer or the Majority Subordinate Certificateholders, as applicable,
      for cash; and

            (iii) at the time of the making of the final payment on the
      Certificates, the Trustee shall distribute or credit, or cause to be
      distributed or credited, to the Certificateholders in accordance with
      Section 9.01 all cash on hand (other than cash retained to meet claims),
      and REMIC I and REMIC II shall terminate at that time.

            (b) By their acceptance of Certificates, the Holders thereof hereby
      authorize the Trustee to specify the 90-day liquidation period for REMIC I
      and REMIC II, which authorization shall be binding upon all successor
      Certificateholders.

                                    ARTICLE X

                            ADDITIONAL TAX PROVISIONS

            Section 10.01. REMIC Administration.

            (a) The REMIC Administrator shall elect to treat each of REMIC I and
REMIC II as a REMIC under the Code and, if necessary, under applicable state
law. Each such election will be made on Form 1066 or other appropriate federal
or state Tax Returns for the taxable year ending December 31, 2006, in the case
of each of REMIC I and REMIC II.

            (b) The REMIC I Regular Interests and the Regular Certificates are
hereby designated as "regular interests" (within the meaning of Section
860G(a)(1) of the Code) in REMIC I and REMIC II, respectively. The Class R-I
Certificates are hereby designated as the single class of "residual interests"
(within the meaning of Section 860G(a)(2) of the Code) in REMIC I, and the Class
R-II Certificates are hereby designated as the single class of "residual
interests" (within the meaning of Section 860G(a)(2) of the Code) in REMIC II.
None of the Master Servicer, the Special Servicer or the Trustee shall (to the
extent within its control) permit the creation of any other "interests" in
either of REMIC I or REMIC II (within the meaning of Treasury regulation Section
1.860D-1(b)(1)).

            (c) The Closing Date is hereby designated as the "startup day" of
each of REMIC I and REMIC II within the meaning of Section 860G(a)(9) of the
Code. The "latest possible maturity date" of the REMIC I Regular Interests and
the Regular Certificates for purposes of the REMIC Provisions shall be the Rated
Final Distribution Date.

            (d) The related Plurality Residual Certificateholder as to the
applicable taxable year is hereby designated as the Tax Matters Person of each
of REMIC I and REMIC II, and shall act on behalf of the related REMIC in
relation to any tax matter or controversy and shall represent the related REMIC
in any administrative or judicial proceeding relating to an examination or audit
by any governmental taxing authority; provided that the REMIC Administrator is
hereby irrevocably appointed to act and shall act as agent and attorney-in-fact
for the Tax Matters Person for REMIC I and REMIC II in the performance of its
duties as such.

            (e) Except as otherwise provided in Section 3.17(a) and subsections
(h) and (i) below, the REMIC Administrator shall pay out of its own funds any
and all routine tax administration expenses of the Trust Fund incurred with
respect to either of REMIC I and REMIC II (but not including any professional
fees or expenses related to audits or any administrative or judicial proceedings
with respect to the Trust Fund that involve the Internal Revenue Service or
state tax authorities, which extraordinary expenses shall be payable or
reimbursable to the Trustee from the Trust Fund unless otherwise provided in
Section 10.01(g) or 10.01(h)).

            (f) Within 30 days after the Closing Date, the REMIC Administrator
shall obtain taxpayer identification numbers for REMIC I and REMIC II by
preparing and filing Internal Revenue Service Forms SS-4 and shall prepare and
file (if not previously prepared and filed) with the Internal Revenue Service
Form 8811, "Information Return for Real Estate Mortgage Investment Conduits
(REMIC) and Issuers of Collateralized Debt Obligations" for the Trust Fund. In
addition, the REMIC Administrator shall prepare, cause the Trustee to sign and
file all of the other Tax Returns in respect of each of REMIC I and REMIC II.
The expenses of preparing and filing such returns shall be borne by the REMIC
Administrator without any right of reimbursement therefor. The other parties
hereto shall provide on a timely basis to the REMIC Administrator or its
designee such information with respect to REMIC I and REMIC II as is in its
possession and reasonably requested by the REMIC Administrator to enable it to
perform its obligations under this Article. Without limiting the generality of
the foregoing, the Depositor, within ten days following the REMIC
Administrator's request therefor, shall provide in writing to the REMIC
Administrator such information as is reasonably requested by the REMIC
Administrator for tax purposes, as to the valuations and issue prices of the
Certificates, and the REMIC Administrator's duty to perform its reporting and
other tax compliance obligations under this Article X shall be subject to the
condition that it receives from the Depositor such information possessed by the
Depositor that is necessary to permit the REMIC Administrator to perform such
obligations.

            (g) The REMIC Administrator shall perform on behalf of each of REMIC
I and REMIC II all reporting and other tax compliance duties that are the
responsibility of each such REMIC under the Code, the REMIC Provisions or other
compliance guidance issued by the Internal Revenue Service or, with respect to
State and Local Taxes, any state or local taxing authority. Included among such
duties, the REMIC Administrator shall provide to: (i) any Transferor of a
Residual Certificate or agent of a Non-Permitted Transferee, such information as
is necessary for the application of any tax relating to the transfer of a
Residual Certificate to any Person who is not a Permitted Transferee; (ii) the
Certificateholders, such information or reports as are required by the Code or
the REMIC Provisions, including, without limitation, reports relating to
interest, original issue discount and market discount or premium (using the
Prepayment Assumption as required hereunder); and (iii) the Internal Revenue
Service, the name, title, address and telephone number of the Person who will
serve as the representative of each of REMIC I and REMIC II.

            (h) The REMIC Administrator shall perform its duties hereunder so as
to maintain the status of each of REMIC I and REMIC II as a REMIC under the
REMIC Provisions (and the Trustee, the Master Servicer and the Special Servicer
shall assist the REMIC Administrator to the extent reasonably requested by the
REMIC Administrator and to the extent of information within the Trustee's, the
Master Servicer's or the Special Servicer's possession or control). None of the
REMIC Administrator, Master Servicer, the Special Servicer, or the Trustee shall
knowingly take (or cause either of REMIC I or REMIC II to take) any action or
fail to take (or fail to cause to be taken) any action that, under the REMIC
Provisions, if taken or not taken, as the case may be, could (i) endanger the
status of either of REMIC I or REMIC II as a REMIC, or (ii) except as provided
in Section 3.17(a), result in the imposition of a tax upon either of REMIC I or
REMIC II (including, but not limited to, the tax on prohibited transactions as
defined in Section 860F(a)(2) of the Code or the tax on contributions to a REMIC
set forth in Section 860G(d) of the Code (any such endangerment or imposition
or, except as provided in Section 3.17(a), imposition of a tax, an "Adverse
REMIC Event")), unless the REMIC Administrator has obtained or received an
Opinion of Counsel (at the expense of the party requesting such action or at the
expense of the Trust Fund if the REMIC Administrator seeks to take such action
or to refrain from acting for the benefit of the Certificateholders) to the
effect that the contemplated action will not result in an Adverse REMIC Event.
The REMIC Administrator shall not take any action or fail to take any action
(whether or not authorized hereunder) as to which the Master Servicer or the
Special Servicer has advised it in writing that either the Master Servicer or
the Special Servicer has received or obtained an Opinion of Counsel to the
effect that an Adverse REMIC Event could occur with respect to such action. In
addition, prior to taking any action with respect to either of REMIC I or REMIC
II, or causing either of REMIC I or REMIC II to take any action that is not
expressly permitted under the terms of this Agreement, the Master Servicer and
the Special Servicer shall consult with the REMIC Administrator or its designee,
in writing, with respect to whether such action could cause an Adverse REMIC
Event to occur. Neither the Master Servicer nor the Special Servicer shall take
any such action or cause either of REMIC I or REMIC II to take any such action
as to which the REMIC Administrator has advised it in writing that an Adverse
REMIC Event could occur, and neither the Master Servicer nor the Special
Servicer shall have any liability hereunder for any action taken by it in
accordance with the written instructions of the REMIC Administrator. The REMIC
Administrator may consult with counsel to make such written advice, and the cost
of same shall be borne by the party seeking to take the action not expressly
permitted by this Agreement, but in no event at the cost or expense of the Trust
Fund, the Trustee or the REMIC Administrator. At all times as may be required by
the Code, the REMIC Administrator (to the extent it is within its control) shall
take all necessary actions within the scope of its responsibilities as more
specifically set forth in this Agreement such that it does not cause
substantially all of the assets of each of REMIC I and REMIC II to fail to
consist of "qualified mortgages" as defined in Section 860G(a)(3) of the Code
and "permitted investments" as defined in Section 860G(a)(5) of the Code.

            (i) If any tax is imposed on either of REMIC I or REMIC II,
including, without limitation, "prohibited transactions" taxes as defined in
Section 860F(a)(2) of the Code, any tax on "net income from foreclosure
property" as defined in Section 860G(c) of the Code, any taxes on contributions
to either of REMIC I or REMIC II after the Startup Day pursuant to Section
860G(d) of the Code, and any other tax imposed by the Code or any applicable
provisions of State or Local Tax laws (other than any tax permitted to be
incurred by the Special Servicer pursuant to Section 3.17(a)), such tax,
together with all incidental costs and expenses (including, without limitation,
penalties and reasonable attorneys' fees), shall be charged to and paid by: (i)
the REMIC Administrator, if such tax arises out of or results from a breach by
the REMIC Administrator of any of its obligations under this Article X; provided
that no liability shall be imposed upon the REMIC Administrator under this
clause if another party has responsibility for payment of such tax under clauses
(iii) or (v) of this Section; (ii) the Special Servicer, if such tax arises out
of or results from a breach by the Special Servicer of any of its obligations
under Article III or this Article X; (iii) the Master Servicer, if such tax
arises out of or results from a breach by the Master Servicer of any of its
obligations under Article III or this Article X; (iv) the Trustee if such tax
arises out of or results from a breach by the Trustee of any of its respective
obligations under Article IV, Article VIII or this Article X; (v) the Mortgage
Loan Seller, if such tax was imposed due to the fact that any of the Mortgage
Loans did not, at the time of their transfer to REMIC I, as applicable,
constitute a "qualified mortgage" as defined in Section 860G(a)(3) of the Code;
or (vi) the Trust Fund, excluding the portion thereof constituting the
Additional Interest Grantor Trust, in all other instances. Any tax permitted to
be incurred by the Special Servicer pursuant to Section 3.17(a) shall be charged
to and paid by the Trust Fund. Any such amounts payable by the Trust Fund shall
be paid by the Paying Agent upon the written direction of the REMIC
Administrator out of amounts on deposit in the Distribution Account in reduction
of the Available Distribution Amount pursuant to Section 3.05(b).

            (j) The REMIC Administrator shall, for federal income tax purposes,
maintain books and records with respect to REMIC I and REMIC II on a calendar
year and on an accrual basis.

            (k) Following the Startup Day, none of the Trustee, the Master
Servicer or the Special Servicer shall accept any contributions of assets to
either of REMIC I or REMIC II unless it shall have received an Opinion of
Counsel (at the expense of the party seeking to cause such contribution and in
no event at the expense of the Trust Fund or the Trustee) to the effect that the
inclusion of such assets in such REMIC will not cause: (i) such REMIC to fail to
qualify as a REMIC at any time that any Certificates are outstanding; or (ii)
the imposition of any tax on such REMIC under the REMIC Provisions or other
applicable provisions of federal, state and local law or ordinances.

            (l) None of the Trustee, the Master Servicer or the Special Servicer
shall consent to or, to the extent it is within the control of such Person,
permit: (i) the sale or disposition of any of the Mortgage Loans (except in
connection with (A) the default or foreclosure of a Mortgage Loan, including,
but not limited to, the sale or other disposition of a Mortgaged Property
acquired by deed in lieu of foreclosure, (B) the bankruptcy of either of REMIC I
or REMIC II, (C) the termination of either of REMIC I and REMIC II pursuant to
Article IX of this Agreement, or (D) a purchase of Mortgage Loans pursuant to or
as contemplated by Article II or III of this Agreement); (ii) the sale or
disposition of any investments in the Servicing Accounts, the Interest Reserve
Accounts, the Certificate Account, the Distribution Account, the Companion
Distribution Account, the Gain-on-Sale Reserve Account or the REO Account for
gain; or (iii) the acquisition of any assets on behalf of either of REMIC I or
REMIC II (other than (1) a Mortgaged Property acquired through foreclosure, deed
in lieu of foreclosure or otherwise in respect of a Defaulted Mortgage Loan, (2)
a Qualified Substitute Mortgage Loan pursuant to Article II hereof and (3)
Permitted Investments acquired in connection with the investment of funds in the
Servicing Accounts, the Interest Reserve Accounts, the Interest Shortfall
Account, the Certificate Account, the Distribution Account, the Companion
Distribution Account, the Gain-on-Sale Reserve Account or the REO Account); in
any event unless it has received an Opinion of Counsel (at the expense of the
party seeking to cause such sale, disposition, or acquisition but in no event at
the expense of the Trust Fund or the Trustee) to the effect that such sale,
disposition, or acquisition will not cause: (x) either of REMIC I or REMIC II to
fail to qualify as a REMIC at any time that any Certificates are outstanding; or
(y) the imposition of any tax on either of REMIC I or REMIC II under the REMIC
Provisions or other applicable provisions of federal, state and local law or
ordinances.

            (m) Except as permitted by Section 3.17(a), none of the Trustee, the
Master Servicer and the Special Servicer shall enter into any arrangement by
which either of REMIC I or REMIC II will receive a fee or other compensation for
services nor permit either of REMIC I or REMIC II to receive any income from
assets other than "qualified mortgages" as defined in Section 860G(a)(3) of the
Code or "permitted investments" as defined in Section 860G(a)(5) of the Code.

            Section 10.02. Administration of the Additional Interest Grantor
Trust.

            (a) The REMIC Administrator shall treat the Additional Interest
Grantor Trust, for tax return preparation purposes, as a grantor trust under the
Code and shall treat the Additional Interest, the Additional Interest Account
and amounts held from time to time in the Additional Interest Account that
represent Additional Interest as separate assets of the Additional Interest
Grantor Trust, and not either of REMIC I or REMIC II, as permitted by Treasury
Regulations Section 1.860G-2(i)(1). The Class Z Certificates are hereby
designated as representing an undivided, beneficial interest in Additional
Interest payable on the Mortgage Loans and proceeds thereof in the Additional
Interest Account.

            (b) [Reserved].

            (c) [Reserved].

            (d) The REMIC Administrator shall pay out of its own funds any and
all routine tax administration expenses of the Trust Fund incurred with respect
to the Additional Interest Grantor Trust (but not including any professional
fees or expenses related to audits or any administrative or judicial proceedings
with respect to the Trust Fund that involve the Internal Revenue Service or
state tax authorities which extraordinary expenses shall be payable or
reimbursable to the REMIC Administrator from the Trust Fund unless otherwise
provided in Section 10.02(f) or 10.02(g)).

            (e) The REMIC Administrator shall prepare, cause the Trustee to sign
and file when due all of the Tax Returns in respect of the Additional Interest
Grantor Trust. The expenses of preparing and filing such returns shall be borne
by the REMIC Administrator without any right of reimbursement therefor. The
other parties hereto shall provide on a timely basis to the REMIC Administrator
or its designee such information with respect to the Additional Interest Grantor
Trust as is in its possession and reasonably requested by the REMIC
Administrator to enable it to perform its obligations under this Section 10.02.
Without limiting the generality of the foregoing, the Depositor, within ten days
following the REMIC Administrator's request therefor, shall provide in writing
to the REMIC Administrator such information as is reasonably requested by the
REMIC Administrator for tax purposes, and the REMIC Administrator's duty to
perform its reporting and other tax compliance obligations under this Section
10.02 shall be subject to the condition that it receives from the Depositor such
information possessed by the Depositor that is necessary to permit the REMIC
Administrator to perform such obligations.

            (f) The REMIC Administrator shall furnish or cause to be furnished
to the Class Z Certificateholders on the cash or accrual method of accounting,
as applicable, such information as to their respective portions of the income
and expenses of the Additional Interest Grantor Trust, at the time and in the
manner required under the Code, and shall perform on behalf of the Additional
Interest Grantor Trust all reporting and other tax compliance duties that are
required in respect thereof under the Code, the Grantor Trust Provisions or
other compliance guidance issued by the Internal Revenue Service or any state or
local taxing authority.

            (g) The REMIC Administrator shall perform its duties hereunder so as
to maintain the status of the Additional Interest Grantor Trust as a grantor
trust under the Grantor Trust Provisions (and the Trustee, the Master Servicer
and the Special Servicer shall assist the REMIC Administrator to the extent
reasonably requested by the REMIC Administrator and to the extent of information
within the Trustee's, the Master Servicer's or the Special Servicer's possession
or control). None of the REMIC Administrator, the Master Servicer, the Special
Servicer or the Trustee shall knowingly take (or cause the Additional Interest
Grantor Trust to take) any action or fail to take (or fail to cause to be taken)
any action that, under the Grantor Trust Provisions, if taken or not taken, as
the case may be, could endanger the status of the Additional Interest Grantor
Trust as a grantor trust under the Grantor Trust Provisions (any such
endangerment of grantor trust status, an "Adverse Grantor Trust Event"), unless
the REMIC Administrator has obtained or received an Opinion of Counsel (at the
expense of the party requesting such action or at the expense of the Trust Fund
if the REMIC Administrator seeks to take such action or to refrain from taking
any action for the benefit of the Certificateholders) to the effect that the
contemplated action will not result in an Adverse Grantor Trust Event. None of
the other parties hereto shall take any action or fail to take any action
(whether or not authorized hereunder) as to which the REMIC Administrator has
advised it in writing that the REMIC Administrator has received or obtained an
Opinion of Counsel to the effect that an Adverse Grantor Trust Event could
result from such action or failure to act. In addition, prior to taking any
action with respect to the Additional Interest Grantor Trust, or causing the
Trust Fund to take any action, that is not expressly permitted under the terms
of this Agreement, the Master Servicer and the Special Servicer shall consult
with the REMIC Administrator or its designee, in writing, with respect to
whether such action could cause an Adverse Grantor Trust Event to occur. Neither
the Master Servicer nor the Special Servicer shall have any liability hereunder
for any action taken by it in accordance with the written instructions of the
REMIC Administrator. The REMIC Administrator may consult with counsel to make
such written advice, and the cost of same shall be borne by the party seeking to
take the action not expressly permitted by this Agreement, but in no event at
the cost or expense of the Trust Fund, the REMIC Administrator or the Trustee.
Under no circumstances may the REMIC Administrator vary the assets of the
Additional Interest Grantor Trust so as to take advantage of variations in the
market so as to improve the rate of return of Holders of the Class Z
Certificates.

            (h) If any tax is imposed on the Additional Interest Grantor Trust,
such tax, together with all incidental costs and expenses (including, without
limitation, penalties and reasonable attorneys' fees), shall be charged to and
paid by: (i) the REMIC Administrator, if such tax arises out of or results from
a breach by the REMIC Administrator of any of its obligations under this Section
10.02; (ii) the Special Servicer, if such tax arises out of or results from a
breach by the Special Servicer of any of its obligations under Article III or
this Section 10.02; (iii) the Master Servicer, if such tax arises out of or
results from a breach by the Master Servicer of any of its obligations under
Article III or this Section 10.02; (iv) the Trustee, if such tax arises out of
or results from a breach by the Trustee, of any of its obligations under Article
IV, Article VIII or this Section 10.02; or (v) the portion of the Trust Fund
constituting the Additional Interest Grantor Trust in all other instances.

                                   ARTICLE XI

                            MISCELLANEOUS PROVISIONS

            Section 11.01. Amendment.

            (a) This Agreement may be amended from time to time by the mutual
agreement of the Depositor, the Master Servicer, the Special Servicer and the
Trustee, without the consent of any of the Certificateholders or Companion
Holders, (i) to cure any ambiguity, (ii) to correct, modify or supplement any
provision herein which may be inconsistent with any other provision herein,
(iii) to add any other provisions with respect to matters or questions arising
hereunder which shall not be inconsistent with the provisions hereof, (iv) to
relax or eliminate any requirement hereunder imposed by the REMIC Provisions if
the REMIC Provisions are amended or clarified such that any such requirement may
be relaxed or eliminated, or (v) if such amendment, as evidenced by an Opinion
of Counsel (at the expense of the Trust Fund, in the case of any amendment
requested by the Master Servicer or Special Servicer that protects or is in
furtherance of the interests of the Certificateholders, and otherwise at the
expense of the party seeking such amendment) delivered to the Master Servicer,
the Special Servicer and the Trustee, is advisable or reasonably necessary to
comply with any requirements imposed by the Code or any successor or amendatory
statute or any temporary or final regulation, revenue ruling, revenue procedure
or other written official announcement or interpretation relating to federal
income tax laws or any such proposed action which, if made effective, would
apply retroactively to REMIC I or REMIC II created hereunder at least from the
effective date of such amendment, or would be necessary to avoid the occurrence
of a prohibited transaction or to reduce the incidence of any tax that would
arise from any actions taken with respect to the operation of either such REMIC
or to comply with any requirements imposed by the Commission with respect to any
adopted temporary or final regulation or other written official announcement or
interpretation relating to the securities laws which, would apply retroactively
to the Depositor, any Underwriter or the Trust Fund; provided that no such
amendment may significantly change the activities of the Trust Fund in a manner
that would adversely affect the Trust Fund's status as a "qualifying special
purpose entity" for purposes of FAS 140; provided, further, such amendment
(except any amendment described in clause (v) above) shall not, as evidenced by
an Opinion of Counsel (at the expense of the Trust Fund, in the case of any
amendment requested by the Master Servicer or Special Servicer that protects or
is in furtherance of the interests of the Certificateholders, and otherwise at
the expense of the party seeking such amendment) obtained by or delivered to the
Master Servicer, the Special Servicer and the Trustee, adversely affect in any
material respect the interests of any Certificateholder or Companion Holder with
respect to the Pari Passu Mortgage Loan; provided, further, the Master Servicer,
the Special Servicer and the Trustee shall have first obtained from each Rating
Agency written confirmation that such amendment will not result in the
qualification, downgrade or withdrawal of the rating on any Class of
Certificates.

            (b) This Agreement may also be amended from time to time by the
agreement of the Depositor, the Master Servicer, the Special Servicer and the
Trustee with the consent of the Holders of Certificates entitled to at least 51%
of the Voting Rights allocated to the affected Classes for the purpose of adding
any provisions to or changing in any manner or eliminating any of the provisions
of this Agreement or of modifying in any manner the rights of the Holders of
Certificates; provided, however, no such amendment shall (i) reduce in any
manner the amount of, or delay the timing of, payments received or advanced on
Mortgage Loans that are required to be distributed on any Certificate without
the consent of the Holder of such Certificate, or which are required to be
distributed to a Companion Holder, without the consent of such Companion Holder,
(ii) as evidenced by an Opinion of Counsel obtained by or delivered to the
Master Servicer, the Special Servicer and the Trustee, adversely affect in any
material respect the interests of the Holders of any Class of Certificates or
the interests of a Companion Holder in a manner other than as described in (i)
without the consent of the Holders of all Certificates of such Class or the
consent of such Companion Holders, as the case may be, (iii) modify the
provisions of this Section 11.01 without the consent of the Holders of all
Certificates then outstanding and the consent of all Companion Holders, (iv)
modify the provisions of Section 3.20 or the definition of Servicing Standard
without the consent of the Holders of Certificates entitled to all of the Voting
Rights and the consent of all Companion Holders or (v) modify the specified
percentage of Voting Rights which are required to be held by Certificateholders
to consent or not to object to any particular action pursuant to any provision
of this Agreement without the consent of the Holders of all Certificates then
outstanding. Notwithstanding any other provision of this Agreement (other than
the next succeeding sentence), for purposes of the giving or withholding of
consents pursuant to this Section 11.01, Certificates registered in the name of
the Depositor or any Affiliate of the Depositor shall be entitled to the same
Voting Rights with respect to matters described above as they would if any other
Person held such Certificates, so long as neither the Depositor nor any of its
Affiliates is performing servicing duties with respect to any of the Mortgage
Loans. Any amendment contemplated by this Section 11.01(b) that adversely
affects the status of the Trust Fund as a "qualifying special purpose entity"
under FAS 140 shall require the agreement of the Depositor, the Master Servicer,
the Special Servicer and the Trustee and the consent of the Holders of
Certificates entitled to at least 51% of the Voting Rights (without regard to
Certificates held by the Depositor, any Affiliate of the Depositor, any Mortgage
Loan Seller or any Affiliate of any Mortgage Loan Seller).

            (c) Notwithstanding any contrary provision of this Agreement, the
Trustee shall not consent to any amendment to this Agreement unless it shall
first have obtained or been furnished with an Opinion of Counsel (at the expense
of the Trust Fund, in the case of any amendment requested by the Master Servicer
or Special Servicer that protects or is in furtherance of the interests of the
Certificateholders, and, otherwise, at the expense of the party seeking such
amendment) to the effect that (i) such amendment or the exercise of any power
granted to the Trustee, the Master Servicer or the Special Servicer in
accordance with such amendment will not result in the imposition of a tax on
either of REMIC I or REMIC II pursuant to the REMIC Provisions or on the
Additional Interest Grantor Trust or cause either of REMIC I or REMIC II to fail
to qualify as a REMIC or the Additional Interest Grantor Trust to fail to
qualify as a grantor trust at any time that any Certificates are outstanding and
(ii) such amendment complies with the provisions of this Section 11.01.

            (d) Promptly after the execution of any such amendment, the Trustee
shall send a copy thereof to each Certificateholder and Companion Holder.

            (e) It shall not be necessary for the consent of Certificateholders
under this Section 11.01 to approve the particular form of any proposed
amendment, but it shall be sufficient if such consent shall approve the
substance thereof. The manner of obtaining such consents and of evidencing the
authorization of the execution thereof by Certificateholders shall be subject to
such reasonable regulations as the Trustee may prescribe.

            (f) Each of the Master Servicer, the Special Servicer and the
Trustee may but shall not be obligated to enter into any amendment pursuant to
this Section that affects its rights, duties and immunities under this Agreement
or otherwise.

            (g) The cost of any Opinion of Counsel to be delivered pursuant to
Section 11.01(a), (b) or (c) shall be borne by the Person seeking the related
amendment, except that if the Master Servicer, the Special Servicer or the
Trustee requests any amendment of this Agreement that protects or is in
furtherance of the rights and interests of Certificateholders, the cost of any
Opinion of Counsel required in connection therewith pursuant to Section
11.01(a), (b) or (c) shall be payable out of the Certificate Account or the
Distribution Account pursuant to Sections 3.05 and 4.01.

            Section 11.02. Recordation of Agreement; Counterparts.

            (a) To the extent permitted by applicable law, this Agreement is
subject to recordation in all appropriate public offices for real property
records in all the counties or other comparable jurisdictions in which any or
all of the properties subject to the Mortgages are situated, and in any other
appropriate public recording office or elsewhere, such recordation to be
effected by the Master Servicer at the expense of the Trust Fund, but only upon
direction accompanied by an Opinion of Counsel (the cost of which may be paid
out of the Certificate Account pursuant to Section 3.05(a)) to the effect that
such recordation materially and beneficially affects the interests of the
Certificateholders; provided, however, the Trustee shall have no obligation or
responsibility to determine whether any such recordation of this Agreement is
required.

            (b) For the purpose of facilitating the recordation of this
Agreement as herein provided and for other purposes, this Agreement may be
executed simultaneously in any number of counterparts, each of which
counterparts shall be deemed to be an original, and such counterparts shall
constitute but one and the same instrument.

            Section 11.03. Limitation on Rights of Certificateholders.

            (a) The death or incapacity of any Certificateholder shall not
operate to terminate this Agreement or the Trust Fund, nor entitle such
Certificateholder's legal representatives or heirs to claim an accounting or to
take any action or proceeding in any court for a partition or winding up of the
Trust Fund, nor otherwise affect the rights, obligations and liabilities of the
parties hereto or any of them.

            (b) No Certificateholder shall have any right to vote (except as
expressly provided for herein) or in any manner otherwise control the operation
and management of the Trust Fund, or the obligations of the parties hereto, nor
shall anything herein set forth, or contained in the terms of the Certificates,
be construed so as to constitute the Certificateholders from time to time as
partners or members of an association; nor shall any Certificateholder be under
any liability to any third party by reason of any action taken by the parties to
this Agreement pursuant to any provision hereof.

            (c) No Certificateholder shall have any right by virtue of any
provision of this Agreement to institute any suit, action or proceeding in
equity or at law upon or under or with respect to this Agreement or any Mortgage
Loan, unless, with respect to any suit, action or proceeding upon or under or
with respect to this Agreement, such Holder previously shall have given to the
Trustee a written notice of default hereunder, and of the continuance thereof,
as hereinbefore provided, and unless also (except in the case of a default by
the Trustee) the Holders of Certificates entitled to at least 25% of the Voting
Rights shall have made written request upon the Trustee to institute such
action, suit or proceeding in its own name as Trustee hereunder and shall have
offered to the Trustee such reasonable indemnity as it may require against the
costs, expenses and liabilities to be incurred therein or thereby, and the
Trustee, for 60 days after its receipt of such notice, request and offer of
indemnity, shall have neglected or refused to institute any such action, suit or
proceeding. It is understood and intended, and expressly covenanted by each
Certificateholder with every other Certificateholder and the Trustee, that no
one or more Holders of Certificates shall have any right in any manner
whatsoever by virtue of any provision of this Agreement to affect, disturb or
prejudice the rights of the Holders of any other of such Certificates, or to
obtain or seek to obtain priority over or preference to any other such Holder,
which priority or preference is not otherwise provided for herein, or to enforce
any right under this Agreement, except in the manner herein provided and for the
equal, ratable and common benefit of all Certificateholders. For the protection
and enforcement of the provisions of this Section, each and every
Certificateholder and the Trustee shall be entitled to such relief as can be
given either at law or in equity.

            Section 11.04. Governing Law.

            This Agreement and the Certificates shall be construed in accordance
with the internal laws of the State of New York applicable to agreements made
and to be performed in said State, and the obligations, rights and remedies of
the parties hereunder shall be determined in accordance with such laws.

            Section 11.05. Notices.

            Any communications provided for or permitted hereunder shall, unless
otherwise expressly provided herein, be in writing by mail, or by facsimile, and
shall be deemed to have been duly given when delivered to: (i) in the case of
the Depositor, Wachovia Commercial Mortgage Securities, Inc., 301 South College
Street, Charlotte, North Carolina 28288, Attention: Charles L. Culbreth, H.
Royer Culp, Jr., Elizabeth K. Stinson and Lars A. Carlsten, facsimile number:
(704) 383-7639; (ii) in the case of the Master Servicer, Wachovia Bank, National
Association, NC 1075, 8739 Research Drive URP4, Charlotte, North Carolina
28262-1075, Attention: Wachovia Bank Commercial Mortgage Trust, Commercial
Mortgage Pass-Through Certificates, Series 2006-C29, facsimile number: (704)
715-0036; (iii) in the case of the Special Servicer, LNR Partners, Inc., 1601
Washington Avenue, Suite 700, Miami Beach, Florida 33139, Attention: Randy
Wolpert, facsimile number: (305) 695-5601, Attention: Thomas Nealon, Esq. at
facsimile number (305) 695-5601, and Attention: Javier Benedit, at facsimile
number (305) 695-5199 (with copies to Bilzin Sumberg Baena Price & Axelrod LLP,
200 South Biscayne Boulevard, Suite 2500, Miami, Florida 33131, Attention: Alan
J. Kazan, Esq., at facsimile number (305) 351-2229); (iv) in the case of the
Trustee, Wells Fargo Bank, N.A., 9062 Old Annapolis Road, Columbia, Maryland
21045-1951, Attention: Corporate Trust Services (CMBS) Wachovia Bank Commercial
Mortgage Trust, Commercial Mortgage Pass Through Certificates, Series 2006-C29,
facsimile number: (410) 715-2380; (v) in the case of the Underwriters to each of
Wachovia Capital Markets, LLC, 301 South College Street, Charlotte, North
Carolina 28288-1075, Attention: Charles L. Culbreth, H. Royer Culp, Jr.,
Elizabeth K. Stinson and Lars A. Carlsten, facsimile number: (704) 715-0066;
Goldman, Sachs & Co., 85 Broad Street, New York, New York 10004, Attention:
Emily Brooks, facsimile number: (212) 902-1691; and Greenwich Capital Markets,
Inc. 600 Steamboat Road, Greenwich, Connecticut 06830, Attention: Andrew Snow;
(vi) in the case of the initial Controlling Class Representative, Hyperion
Brookfield Asset Management Inc., Three World Financial Center, 200 Vesey
Street, 10th Floor, New York, New York 10281, Attention: Julie Madnick (WBCMT
2006-C29), facsimile number: (212) 549-8304; (vii) in the case of the Rating
Agencies to each of Standard & Poor's Ratings Services, 55 Water Street, New
York, New York 10041-0003, Attention: CMBS Surveillance Group, facsimile number:
(212) 438-2662; and Moody's Investors Service, Inc., 99 Church Street, New York,
New York 10007, Attention: Commercial Mortgage Surveillance; and (viii) in the
case of any Companion Holder, the address(es) for notice to such Companion
Holder as set forth in the related Intercreditor Agreement or as to each such
Person such other address as may hereafter be furnished by such Person to the
parties hereto in writing. Any communication required or permitted to be
delivered to a Certificateholder shall be deemed to have been duly given when
mailed first class, postage prepaid, to the address of such Holder as shown in
the Certificate Register.

            Section 11.06. Severability of Provisions.

            If any one or more of the covenants, agreements, provisions or terms
of this Agreement shall be for any reason whatsoever held invalid, then such
covenants, agreements, provisions or terms shall be deemed severable from the
remaining covenants, agreements, provisions or terms of this Agreement and shall
in no way affect the validity or enforceability of the other provisions of this
Agreement or of the Certificates or the rights of the Holders thereof.

            Section 11.07. Grant of a Security Interest.

            The Depositor intends that the conveyance of the Depositor's right,
title and interest in and to the Mortgage Loans pursuant to this Agreement shall
constitute a sale and not a pledge of security for a loan. If such conveyance is
deemed to be a pledge of security for a loan, however, the Depositor intends
that the rights and obligations of the parties to such loan shall be established
pursuant to the terms of this Agreement. The Depositor also intends and agrees
that, in such event, the Depositor shall be deemed to have granted to the
Trustee (in such capacity) a first priority security interest in the Depositor's
entire right, title and interest in and to the assets constituting the Trust
Fund.

            Section 11.08. Streit Act.

            Any provisions required to be contained in this Agreement by Section
126 of Article 4-A of the New York Real Property Law are hereby incorporated
herein, and such provisions shall be in addition to those conferred or imposed
by this Agreement; provided, however, to the extent that such Section 126 shall
not have any effect, and if said Section 126 should at any time be repealed or
cease to apply to this Agreement or be construed by judicial decision to be
inapplicable, said Section 126 shall cease to have any further effect upon the
provisions of this Agreement. In case of a conflict between the provisions of
this Agreement and any mandatory provisions of Article 4-A of the New York Real
Property Law, such mandatory provisions of said Article 4-A shall prevail;
provided that if said Article 4-A shall not apply to this Agreement, should at
any time be repealed or cease to apply to this Agreement or be construed by
judicial decision to be inapplicable, such mandatory provisions of such Article
4-A shall cease to have any further effect upon the provisions of this
Agreement.

            Section 11.09. Successors and Assigns; Beneficiaries.

            The provisions of this Agreement shall be binding upon and inure to
the benefit of the respective successors and assigns of the parties hereto, and
all such provisions shall inure to the benefit of the Certificateholders. This
Agreement may not be amended in any manner that would adversely affect the
rights of any third party beneficiary hereof without its consent. The 2006-C28
Master Servicer and the 2006-C28 Special Servicer shall be third party
beneficiaries to this Agreement solely with respect to the reimbursement of
nonrecoverable advances made by such party under the 2006-C28 Pooling and
Servicing Agreement as provided in Section 3.05. No other person, including,
without limitation, any Mortgagor, shall be entitled to any benefit or equitable
right, remedy or claim under this Agreement; provided that the Companion Holders
are intended third party beneficiaries hereunder.

            Section 11.10. Article and Section Headings.

            The article and section headings herein are for convenience of
reference only, and shall not limit or otherwise affect the meaning hereof.

            Section 11.11. Notices to Rating Agencies.

            (a) The Trustee shall promptly provide notice to each Rating Agency
      and the Controlling Class Representative with respect to each of the
      following of which it has actual knowledge:

            (i) any material change or amendment to this Agreement;

            (ii) the occurrence of any Event of Default that has not been cured;

            (iii) the merger, consolidation, resignation or termination of the
      Trustee, the Master Servicer or the Special Servicer;

            (iv) the repurchase of Mortgage Loans by any of the Mortgage Loan
      Sellers pursuant to the applicable Mortgage Loan Purchase Agreement;

            (v) any change in the location of the Servicing Accounts, the
      Interest Reserve Accounts, the Certificate Account, the Gain-on-Sale
      Reserve Account, the Companion Distribution Account or the Distribution
      Account;

            (vi) the final payment to any Class of Certificateholders; and

            (vii) any sale or disposition of any Mortgage Loan or REO Property.

            (b) The Master Servicer shall promptly provide notice to each Rating
      Agency with respect to each of the following of which it has actual
      knowledge:

            (i) the resignation or removal of the Trustee; and

            (ii) any change in the location of the Certificate Account.

            (c) The Special Servicer shall furnish each Rating Agency and the
      Controlling Class Representative with respect to a non-performing or
      Defaulted Mortgage Loan such information as the Rating Agency or
      Controlling Class Representative shall reasonably request and which the
      Special Servicer can reasonably provide in accordance with applicable law.

            (d) To the extent applicable, each of the Master Servicer, the
      Special Servicer and the Trustee shall promptly furnish, or cause to be
      furnished, to each Rating Agency copies of the following items:

            (i) each of the annual statements as to compliance described in
      Section 3.13;

            (ii) each of the annual independent public accountants' servicing
      reports described in Section 3.14;

            (iii) any Officer's Certificate delivered to the Trustee pursuant to
      Section 4.03(c) or 3.08; and

            (iv) each of the reports described in Section 3.12(a) and the
      statements and reports described in Sections 3.12(b), 3.12(c) and 3.12(d).

            (e) The Trustee shall (i) make available to each Rating Agency and
      the Controlling Class Representative, upon reasonable notice, the items
      described in Section 3.15(a) and (ii) promptly deliver to each Rating
      Agency and the Controlling Class Representative a copy of any notices
      given pursuant to Section 7.03(a) or Section 7.03(b).

            (f) Each of the Trustee, the Master Servicer and the Special
      Servicer shall provide to each Rating Agency such other information with
      respect to the Mortgage Loans and the Certificates, to the extent such
      party possesses such information, as such Rating Agency shall reasonably
      request.

            (g) Notwithstanding any provision herein to the contrary each of the
      Master Servicer, the Special Servicer or the Trustee shall deliver to any
      Underwriter any report prepared by such party hereunder upon request.

            Section 11.12. Complete Agreement.

            This Agreement embodies the complete agreement among the parties and
may not be varied or terminated except by a written agreement conforming to the
provisions of Section 11.01. All prior negotiations or representations of the
parties are merged into this Agreement and shall have no force or effect unless
expressly stated herein.

                            [SIGNATURE PAGES FOLLOW]

<PAGE>

            IN WITNESS WHEREOF, the parties hereto have caused their names to be
signed hereto by their respective officers thereunto duly authorized, in each
case as of the day and year first above written.

                                    WACHOVIA COMMERCIAL MORTGAGE SECURITIES,
                                        INC., Depositor

                                    By:   /s/ H. Royer Culp, Jr.
                                        ----------------------------------------
                                        Name:  H. Royer Culp, Jr.
                                        Title: Vice President

                                    WACHOVIA BANK, NATIONAL ASSOCIATION, Master
                                        Servicer

                                    By:   /s/   Cynthia L. Schwartz
                                        ----------------------------------------
                                        Name:  Cynthia L. Schwartz
                                        Title: Vice President

                                    LNR PARTNERS, INC., Special Servicer

                                    By:   /s/ Steven N. Bjerke
                                        ----------------------------------------
                                        Name:  Steven N. Bjerke
                                        Title: Vice President

                                    WELLS FARGO BANK, N.A., Trustee

                                    By:   /s/ Jennifer L. Richardson
                                        ----------------------------------------
                                        Name:  Jennifer L. Richardson
                                        Title: Vice President

<PAGE>
                                   EXHIBIT A-1

                          FORM OF CLASS A-1 CERTIFICATE

             CLASS A-1 COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATE,
                                 SERIES 2006-C29

evidencing a beneficial ownership interest in a trust fund (the "Trust Fund")
consisting primarily of a pool of multifamily and commercial mortgage loans (the
"Mortgage Loans"), such pool being formed and sold by

                     WACHOVIA BANK COMMERCIAL MORTGAGE TRUST

Pass-Through Rate: [__]% per annum           Class Principal Balance of the
                                             Class A-1 Certificates as of the
                                             Closing Date: $16,720,000

Date of Pooling and Servicing Agreement:     Initial Certificate Principal
as of December 1, 2006                       Balance of this Class A-1
                                             Certificate as of the Closing Date:
                                             $16,720,000

Closing Date: December 21, 2006              Aggregate Stated Principal Balance
                                             of the Mortgage Loans as of the
                                             Cut-Off Date:
                                             $3,371,274,173

First Distribution Date: January 18, 2007

Master Servicer: Wachovia Bank, National     Trustee: Wells Fargo Bank, N.A.
Association

Special Servicer: LNR Partners, Inc.

Certificate No. A-1-1                        CUSIP No. [_]

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST CORPORATION, A NEW YORK CORPORATION ("DTC"), TO THE DEPOSITOR,
THE MASTER SERVICER, THE TRUSTEE, THE CERTIFICATE REGISTRAR OR ANY AGENT THEREOF
FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED
IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO
SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY
TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON
IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
HEREIN.

THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN WACHOVIA
COMMERCIAL MORTGAGE SECURITIES, INC., WELLS FARGO BANK, N.A., LNR PARTNERS,
INC., WACHOVIA BANK, NATIONAL ASSOCIATION OR ANY OF THEIR RESPECTIVE AFFILIATES.
NEITHER THIS CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS ARE GUARANTEED BY ANY
AGENCY OR INSTRUMENTALITY OF THE UNITED STATES OR ANY OTHER PERSON.

SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE IS A "REGULAR
INTEREST" IN A "REAL ESTATE MORTGAGE INVESTMENT CONDUIT" (A "REMIC") AS THOSE
TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL
REVENUE CODE OF 1986 (THE "CODE").

DISTRIBUTIONS IN REDUCTION OF THE CERTIFICATE PRINCIPAL BALANCE OF THIS
CERTIFICATE MAY BE MADE MONTHLY AS SET FORTH IN THE POOLING AND SERVICING
AGREEMENT REFERRED TO HEREIN. IN ADDITION, IF THE AGGREGATE CERTIFICATE
PRINCIPAL BALANCE OF THE CLASS A-M, CLASS A-J, CLASS B, CLASS C, CLASS D, CLASS
E, CLASS F, CLASS G, CLASS H, CLASS J, CLASS K, CLASS L, CLASS M, CLASS N, CLASS
O, CLASS P AND CLASS Q CERTIFICATES OF THE SAME SERIES IS REDUCED TO ZERO, THE
CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE, THE CLASS A-2 CERTIFICATES,
THE CLASS A-3 CERTIFICATES, THE CLASS A-PB CERTIFICATES, THE CLASS A-4
CERTIFICATES AND THE CLASS A-1A CERTIFICATES MAY BE REDUCED BY CERTAIN LOSSES
AND EXPENSES EXPERIENCED BY THE TRUST FUND AS SET FORTH IN THE AGREEMENT
REFERRED TO HEREIN. ACCORDINGLY, THE OUTSTANDING CERTIFICATE PRINCIPAL BALANCE
HEREOF AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ABOVE.

               This certifies that Cede & Co. is the registered owner of the
Percentage Interest evidenced by this Class A-1 Certificate (obtained by
dividing the principal amount of this Class A-1 Certificate (its "Certificate
Principal Balance") as of the Closing Date by the aggregate principal amount of
all the Class A-1 Certificates (their "Class Principal Balance") as of the
Closing Date) in that certain beneficial ownership interest evidenced by all the
Class A-1 Certificates in the Trust Fund created pursuant to a Pooling and
Servicing Agreement, dated as specified above (the "Agreement"), among Wachovia
Commercial Mortgage Securities, Inc. (herein called the "Depositor", which term
includes any successor entity under the Agreement), Wachovia Bank, National
Association (herein called the "Master Servicer", which term includes any
successor entity under the Agreement), LNR Partners, Inc. (herein called the
"Special Servicer", which term includes any successor entity under the
Agreement) and Wells Fargo Bank, N.A. (herein called the "Trustee", which term
includes any successor entity under the Agreement), a summary of certain of the
pertinent provisions of which is set forth hereafter. To the extent not defined
herein, the capitalized terms used herein have the respective meanings assigned
in the Agreement. This Certificate is issued under and is subject to the terms,
provisions and conditions of the Agreement, to which Agreement the Holder of
this Certificate by virtue of the acceptance hereof assents and by which such
Holder is bound.

               Pursuant to the terms of the Agreement, distributions will be
made on the fourth Business Day following the related Determination Date (each,
a "Distribution Date"). The Determination Date is the 11th day of each month or,
if such 11th day is not a Business Day, the Business Day immediately succeeding,
commencing in January 2007 (each, a "Determination Date"). Distributions will be
made commencing on the first Distribution Date specified above, to the Person in
whose name this Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such distribution
(the "Record Date"), in an amount equal to the product of the Percentage
Interest evidenced by this Certificate and the amount required to be distributed
to the Holders of the Class A-1 Certificates on the applicable Distribution Date
pursuant to the Agreement. All distributions made under the Agreement on the
Class A-1 Certificates will be made by Wells Fargo Bank, N.A., as paying agent
(the "Paying Agent"), by wire transfer of immediately available funds to the
account of the Person entitled thereto at a bank or other entity having
appropriate facilities therefor, if such Certificateholder shall have provided
the Paying Agent with wiring instructions no less than five Business Days prior
to the related Record Date (which wiring instructions may be in the form of a
standing order applicable to all subsequent distributions), or otherwise by
check mailed to the address of such Certificateholder as it appears in the
Certificate Register. Notwithstanding the foregoing, the final distribution on
this Certificate (determined without regard to any possible future reimbursement
of any Realized Loss or Additional Trust Fund Expense previously allocated to
this Certificate) will be made in like manner, but only upon presentation and
surrender of this Certificate at the offices of the Certificate Registrar or
such other location specified in the notice to the Holder hereof of such final
distribution. Also notwithstanding the foregoing, any distribution that may be
made with respect to this Certificate in reimbursement of any Realized Loss or
Additional Trust Fund Expense previously allocated to this Certificate, which
reimbursement is to occur after the date on which this Certificate is
surrendered as contemplated by the preceding sentence, will be made by check
mailed to the address of the Holder that surrenders this Certificate as such
address last appears in the Certificate Register or to any such other address of
which the Paying Agent is subsequently notified in writing.

               The Certificates are limited in right of distribution to certain
collections and recoveries respecting the Mortgage Loans and REO Loans, all as
more specifically set forth herein and in the Agreement. As provided in the
Agreement, withdrawals from the Certificate Account, the Distribution Account
and, if established, the REO Account may be made from time to time for purposes
other than, and, in certain cases, prior to, distributions to
Certificateholders, such purposes including the reimbursement of Advances made,
or certain expenses incurred, with respect to the Mortgage Loans and the payment
of interest on such Advances and expenses.

               Interest accrued on this Certificate during an Interest Accrual
Period, plus any unpaid interest shortfall with respect to this Certificate for
any prior Distribution Date, if any, will be payable on the related Distribution
Date to the extent provided in the Agreement. The "Interest Accrual Period" with
respect to any Distribution Date and with respect to the Class A-1 Certificates
is the calendar month preceding the month in which such Distribution Date occurs
and is assumed to consist of 30 days.

               Any distribution to the Holder of this Certificate in reduction
of the Certificate Principal Balance hereof is binding on such Holder and all
future Holders of this Certificate and any Certificate issued upon the transfer
hereof or in exchange herefor or in lieu hereof whether or not notation of such
distribution is made upon this Certificate.

               The Class A-1 Certificates are issuable in fully registered form
only without coupons in minimum denominations specified in the Agreement. As
provided in the Agreement and subject to certain limitations therein set forth,
the Class A-1 Certificates are exchangeable for new Class A-1 Certificates in
authorized denominations evidencing the same aggregate Percentage Interest, as
requested by the Holder surrendering the same.

               As provided in the Agreement and subject to certain limitations
therein set forth, the transfer of this Certificate is registrable in the
Certificate Register upon surrender of this Certificate for registration of
transfer at the offices of the Certificate Registrar, duly endorsed by, or
accompanied by a written instrument of transfer in the form satisfactory to the
Certificate Registrar duly executed by, the Holder hereof or his attorney duly
authorized in writing, and thereupon one or more new Class A-1 Certificates in
authorized denominations evidencing the same aggregate Percentage Interest will
be issued to the designated transferee or transferees.

               No service charge will be imposed for any registration of
transfer or exchange of Class A-1 Certificates, but the Certificate Registrar
may require payment of a sum sufficient to cover any tax or other governmental
charge that may be imposed in connection with any transfer or exchange of Class
A-1 Certificates.

               Notwithstanding the foregoing, for so long as this Certificate is
registered in the name of Cede & Co. or in such other name as is requested by an
authorized representative of DTC, transfers of interests in this Certificate
shall be made through the book-entry facilities of DTC.

               The Depositor, the Master Servicer, the Special Servicer, the
Trustee, the Paying Agent and the Certificate Registrar and any agent of the
Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying
Agent or the Certificate Registrar may treat the Person in whose name this
Certificate is registered as the owner hereof for all purposes whatsoever and
none of the Depositor, the Master Servicer, the Special Servicer, the Trustee,
the Paying Agent, the Certificate Registrar or any such agent shall be affected
by notice to the contrary.

               The Trust Fund and the obligations created by the Agreement shall
terminate upon distribution (or provision for distribution) to the
Certificateholders of all amounts held by or on behalf of the Trustee and
required to be distributed to them pursuant to the Agreement following the
earlier to occur of (i) the final payment (or any advance with respect thereto)
or other liquidation of the last Mortgage Loan or REO Property remaining in the
Trust Fund, and (ii) the purchase by the Master Servicer, the Special Servicer
or the Majority Subordinate Certificateholder at a price determined as provided
in the Agreement of all Mortgage Loans and each REO Property remaining in the
Trust Fund. The Agreement permits, but does not require, the Master Servicer,
the Special Servicer or the Majority Subordinate Certificateholder to purchase
from the Trust Fund all Mortgage Loans and each REO Property remaining therein.
The exercise of such right will effect early retirement of the Class A-1
Certificates; however, such right to purchase is subject to the aggregate Stated
Principal Balance of the Mortgage Pool at the time of purchase being less than
1% of the aggregate Stated Principal Balance of the Mortgage Loans as of the
Cut-Off Date specified on the face hereof.

               In addition, any exchange by any Certificateholder of all of the
then outstanding Certificates (other than the Class Z, Class R-I and Class R-II
Certificates) for all of the Mortgage Loans and each REO Property remaining in
the Trust Fund may be made: (i) if the then outstanding Certificates (other than
the Class Z, Class R-I and Class R-II Certificates) are held by a single
Certificateholder and (ii) the Class A-1, Class A-2, Class A-3, Class A-PB,
Class A-4, Class A-1A, Class A-M, Class A-J, Class B, Class C, Class D and Class
E Certificates have been paid in full.

               The Agreement permits, with certain exceptions therein provided,
the amendment thereof and the modification of the rights and obligations of the
Depositor, the Master Servicer, the Special Servicer and the Trustee and the
rights of the Certificateholders under the Agreement at any time by the
Depositor, the Master Servicer, the Special Servicer and the Trustee with the
consent of the Holders of Certificates entitled to at least 51% of the Voting
Rights allocated to the affected Classes. Any such consent by the Holder of this
Certificate shall be conclusive and binding on such Holder and upon all future
Holders of this Certificate and of any Certificate issued upon the transfer
hereof or in exchange herefor or in lieu hereof whether or not notation of such
consent is made upon this Certificate. The Agreement also permits the amendment
thereof, in certain limited circumstances, including any amendment necessary to
maintain the status of the Trust Fund (or designated portions thereof) as
consisting of two separate REMICs and one grantor trust, without the consent of
the Holders of any of the Certificates.

               Unless the certificate of authentication hereon has been executed
by the Certificate Registrar, by manual signature, this Certificate shall not be
entitled to any benefit under the Agreement or be valid for any purpose.

               The registered Holder hereof, by its acceptance hereof, agrees
that it will look solely to the Trust Fund (to the extent of its rights therein)
for distributions hereunder.

               This Certificate shall be construed in accordance with the
internal laws of the State of New York applicable to agreements made and to be
performed in said State, and the obligations, rights and remedies of the Holder
hereof shall be determined in accordance with such laws.

<PAGE>

               IN WITNESS WHEREOF, the Certificate Registrar has caused this
Certificate to be duly executed.

Dated: December 21, 2006

                                          WELLS FARGO BANK, N.A., as Certificate
                                              Registrar

                                          By: __________________________________
                                              Authorized Representative

                          CERTIFICATE OF AUTHENTICATION

               This is one of the Class A-1 Certificates referred to in the
within-mentioned Agreement.

                                          WELLS FARGO BANK, N.A., as
                                              Authenticating Agent

                                          By: __________________________________
                                              Authorized Representative

<PAGE>

                                   ASSIGNMENT

               FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and
transfer(s) unto ________________________________________________________
(please print or typewrite name and address including postal zip code of
assignee) the beneficial ownership interest in the Trust Fund evidenced by the
within Commercial Mortgage Pass-Through Certificate and hereby authorize(s) the
registration of transfer of such interest to assignee on the Certificate
Register of the Trust Fund.

               I (we) further direct the Certificate Registrar to issue a new
Commercial Mortgage Pass-Through Certificate of a like Percentage Interest and
Class to the above named assignee and deliver such Commercial Mortgage
Pass-Through Certificate to the following address:
_________________________________________________________________________.

Dated: _________________________

                                          ______________________________________
                                           Signature by or on behalf of Assignor

                                          ______________________________________
                                                  Signature Guaranteed

<PAGE>

                            DISTRIBUTION INSTRUCTIONS

               The Assignee should include the following for purposes of
distribution:

               Distributions shall, if permitted, be made by wire transfer or
otherwise, in immediately available funds, to _____________________________ for
the account of _______________.

               Distributions made by check (such check to be made payable to
_____________________) and all applicable statements and notices should be
mailed to _____________________________.

               This information is provided by ________________________________,
the Assignee named above, or ____________________________________, as its agent.

<PAGE>

                                   EXHIBIT A-2

                          FORM OF CLASS A-2 CERTIFICATE

             CLASS A-2 COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATE,
                                 SERIES 2006-C29

evidencing a beneficial ownership interest in a trust fund (the "Trust Fund")
consisting primarily of a pool of multifamily and commercial mortgage loans (the
"Mortgage Loans"), such pool being formed and sold by

                     WACHOVIA BANK COMMERCIAL MORTGAGE TRUST

Pass-Through Rate: [__]% per annum           Class Principal Balance of the
                                             Class A-2 Certificates as of the
                                             Closing Date: $291,336,000

Date of Pooling and Servicing Agreement:     Initial Certificate Principal
AS OF December 1, 2006                       Balance of this Class A-2
                                             Certificate as of the Closing Date:
                                             $291,336,000

Closing Date: December 21, 2006              Aggregate Stated Principal Balance
                                             of the Mortgage Loans as of the
                                             Cut-Off Date: $3,371,274,173

First Distribution Date: January 18, 2007

Master Servicer: Wachovia Bank, National     Trustee: Wells Fargo Bank, N.A.
Association

Special Servicer: LNR Partners, Inc.

Certificate No. A-2-1                        CUSIP No. [_]

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST CORPORATION, A NEW YORK CORPORATION ("DTC"), TO THE DEPOSITOR,
THE MASTER SERVICER, THE TRUSTEE, THE CERTIFICATE REGISTRAR OR ANY AGENT THEREOF
FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED
IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO
SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY
TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON
IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
HEREIN.

THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN WACHOVIA
COMMERCIAL MORTGAGE SECURITIES, INC., WELLS FARGO BANK, N.A., LNR PARTNERS,
INC., WACHOVIA BANK, NATIONAL ASSOCIATION, OR ANY OF THEIR RESPECTIVE
AFFILIATES. NEITHER THIS CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS ARE
GUARANTEED BY ANY AGENCY OR INSTRUMENTALITY OF THE UNITED STATES OR ANY OTHER
PERSON.

SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE IS A "REGULAR
INTEREST" IN A "REAL ESTATE MORTGAGE INVESTMENT CONDUIT" (A "REMIC") AS THOSE
TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL
REVENUE CODE OF 1986 (THE "CODE").

DISTRIBUTIONS IN REDUCTION OF THE CERTIFICATE PRINCIPAL BALANCE OF THIS
CERTIFICATE MAY BE MADE MONTHLY AS SET FORTH IN THE POOLING AND SERVICING
AGREEMENT REFERRED TO HEREIN. IN ADDITION, IF THE AGGREGATE CERTIFICATE
PRINCIPAL BALANCE OF THE CLASS A-M, CLASS A-J, CLASS B, CLASS C, CLASS D, CLASS
E, CLASS F, CLASS G, CLASS H, CLASS J, CLASS K, CLASS L, CLASS M, CLASS N, CLASS
O, CLASS P AND CLASS Q CERTIFICATES OF THE SAME SERIES IS REDUCED TO ZERO, THE
CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE, THE CLASS A-1 CERTIFICATES,
THE CLASS A-3 CERTIFICATES, THE CLASS A-PB CERTIFICATES, THE CLASS A-4
CERTIFICATES AND THE CLASS A-1A CERTIFICATES MAY BE REDUCED BY CERTAIN LOSSES
AND EXPENSES EXPERIENCED BY THE TRUST FUND AS SET FORTH IN THE AGREEMENT
REFERRED TO HEREIN. ACCORDINGLY, THE OUTSTANDING CERTIFICATE PRINCIPAL BALANCE
HEREOF AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ABOVE.

               This certifies that Cede & Co. is the registered owner of the
Percentage Interest evidenced by this Class A-2 Certificate (obtained by
dividing the principal amount of this Class A-2 Certificate (its "Certificate
Principal Balance") as of the Closing Date by the aggregate principal amount of
all the Class A-2 Certificates (their "Class Principal Balance") as of the
Closing Date) in that certain beneficial ownership interest evidenced by all the
Class A-2 Certificates in the Trust Fund created pursuant to a Pooling and
Servicing Agreement, dated as specified above (the "Agreement"), among Wachovia
Commercial Mortgage Securities, Inc. (herein called the "Depositor", which term
includes any successor entity under the Agreement), Wachovia Bank, National
Association (herein called the "Master Servicer", which term includes any
successor entity under the Agreement), LNR Partners, Inc. (herein called the
"Special Servicer", which term includes any successor entity under the
Agreement) and Wells Fargo Bank, N.A. (herein called the "Trustee", which term
includes any successor entity under the Agreement), a summary of certain of the
pertinent provisions of which is set forth hereafter. To the extent not defined
herein, the capitalized terms used herein have the respective meanings assigned
in the Agreement. This Certificate is issued under and is subject to the terms,
provisions and conditions of the Agreement, to which Agreement the Holder of
this Certificate by virtue of the acceptance hereof assents and by which such
Holder is bound.

               Pursuant to the terms of the Agreement, distributions will be
made on the fourth Business Day following the related Determination Date (each,
a "Distribution Date"). The Determination Date is the 11th day of each month or,
if such 11th day is not a Business Day, the Business Day immediately succeeding,
commencing in January 2007 (each, a "Determination Date"). Distributions will be
made commencing on the first Distribution Date specified above, to the Person in
whose name this Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such distribution
(the "Record Date"), in an amount equal to the product of the Percentage
Interest evidenced by this Certificate and the amount required to be distributed
to the Holders of the Class A-2 Certificates on the applicable Distribution Date
pursuant to the Agreement. All distributions made under the Agreement on the
Class A-2 Certificates will be made by Wells Fargo Bank, N.A., as paying agent
(the "Paying Agent"), by wire transfer of immediately available funds to the
account of the Person entitled thereto at a bank or other entity having
appropriate facilities therefor, if such Certificateholder shall have provided
the Paying Agent with wiring instructions no less than five Business Days prior
to the related Record Date (which wiring instructions may be in the form of a
standing order applicable to all subsequent distributions), or otherwise by
check mailed to the address of such Certificateholder as it appears in the
Certificate Register. Notwithstanding the foregoing, the final distribution on
this Certificate (determined without regard to any possible future reimbursement
of any Realized Loss or Additional Trust Fund Expense previously allocated to
this Certificate) will be made in like manner, but only upon presentation and
surrender of this Certificate at the offices of the Certificate Registrar or
such other location specified in the notice to the Holder hereof of such final
distribution. Also notwithstanding the foregoing, any distribution that may be
made with respect to this Certificate in reimbursement of any Realized Loss or
Additional Trust Fund Expense previously allocated to this Certificate, which
reimbursement is to occur after the date on which this Certificate is
surrendered as contemplated by the preceding sentence, will be made by check
mailed to the address of the Holder that surrenders this Certificate as such
address last appears in the Certificate Register or to any such other address of
which the Paying Agent is subsequently notified in writing.

               The Certificates are limited in right of distribution to certain
collections and recoveries respecting the Mortgage Loans and REO Loans, all as
more specifically set forth herein and in the Agreement. As provided in the
Agreement, withdrawals from the Certificate Account, the Distribution Account
and, if established, the REO Account may be made from time to time for purposes
other than, and, in certain cases, prior to, distributions to
Certificateholders, such purposes including the reimbursement of Advances made,
or certain expenses incurred, with respect to the Mortgage Loans and the payment
of interest on such Advances and expenses.

               Interest accrued on this Certificate during an Interest Accrual
Period, plus any unpaid interest shortfall with respect to this Certificate for
any prior Distribution Date, if any, will be payable on the related Distribution
Date to the extent provided in the Agreement. The "Interest Accrual Period" with
respect to any Distribution Date and with respect to the Class A-2 Certificates
is the calendar month preceding the month in which such Distribution Date occurs
and is assumed to consist of 30 days.

               Any distribution to the Holder of this Certificate in reduction
of the Certificate Principal Balance hereof is binding on such Holder and all
future Holders of this Certificate and any Certificate issued upon the transfer
hereof or in exchange herefor or in lieu hereof whether or not notation of such
distribution is made upon this Certificate.

               The Class A-2 Certificates are issuable in fully registered form
only without coupons in minimum denominations specified in the Agreement. As
provided in the Agreement and subject to certain limitations therein set forth,
the Class A-2 Certificates are exchangeable for new Class A-2 Certificates in
authorized denominations evidencing the same aggregate Percentage Interest, as
requested by the Holder surrendering the same.

               As provided in the Agreement and subject to certain limitations
therein set forth, the transfer of this Certificate is registrable in the
Certificate Register upon surrender of this Certificate for registration of
transfer at the offices of the Certificate Registrar, duly endorsed by, or
accompanied by a written instrument of transfer in the form satisfactory to the
Certificate Registrar duly executed by, the Holder hereof or his attorney duly
authorized in writing, and thereupon one or more new Class A-2 Certificates in
authorized denominations evidencing the same aggregate Percentage Interest will
be issued to the designated transferee or transferees.

               No service charge will be imposed for any registration of
transfer or exchange of Class A-2 Certificates, but the Certificate Registrar
may require payment of a sum sufficient to cover any tax or other governmental
charge that may be imposed in connection with any transfer or exchange of Class
A-2 Certificates.

               Notwithstanding the foregoing, for so long as this Certificate is
registered in the name of Cede & Co. or in such other name as is requested by an
authorized representative of DTC, transfers of interests in this Certificate
shall be made through the book-entry facilities of DTC.

               The Depositor, the Master Servicer, the Special Servicer, the
Trustee, the Paying Agent and the Certificate Registrar and any agent of the
Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying
Agent or the Certificate Registrar may treat the Person in whose name this
Certificate is registered as the owner hereof for all purposes whatsoever and
none of the Depositor, the Master Servicer, the Special Servicer, the Trustee,
the Paying Agent, the Certificate Registrar or any such agent shall be affected
by notice to the contrary.

               The Trust Fund and the obligations created by the Agreement shall
terminate upon distribution (or provision for distribution) to the
Certificateholders of all amounts held by or on behalf of the Trustee and
required to be distributed to them pursuant to the Agreement following the
earlier to occur of (i) the final payment (or any advance with respect thereto)
or other liquidation of the last Mortgage Loan or REO Property remaining in the
Trust Fund, and (ii) the purchase by the Master Servicer, the Special Servicer
or the Majority Subordinate Certificateholder at a price determined as provided
in the Agreement of all Mortgage Loans and each REO Property remaining in the
Trust Fund. The Agreement permits, but does not require, the Master Servicer,
the Special Servicer or the Majority Subordinate Certificateholder to purchase
from the Trust Fund all Mortgage Loans and each REO Property remaining therein.
The exercise of such right will effect early retirement of the Class A-2
Certificates; however, such right to purchase is subject to the aggregate Stated
Principal Balance of the Mortgage Pool at the time of purchase being less than
1% of the aggregate Stated Principal Balance of the Mortgage Loans as of the
Cut-Off Date specified on the face hereof.

               In addition, any exchange by any Certificateholder of all of the
then outstanding Certificates (other than the Class Z, Class R-I and Class R-II
Certificates) for all of the Mortgage Loans and each REO Property remaining in
the Trust Fund may be made: (i) if the then outstanding Certificates (other than
the Class Z, Class R-I and Class R-II Certificates) are held by a single
Certificateholder and (ii) the Class A-1, Class A-2, Class A-3, Class A-PB,
Class A-4, Class A-1A, Class A-M, Class A-J, Class B, Class C, Class D and Class
E Certificates have been paid in full.

               The Agreement permits, with certain exceptions therein provided,
the amendment thereof and the modification of the rights and obligations of the
Depositor, the Master Servicer, the Special Servicer and the Trustee and the
rights of the Certificateholders under the Agreement at any time by the
Depositor, the Master Servicer, the Special Servicer and the Trustee with the
consent of the Holders of Certificates entitled to at least 51% of the Voting
Rights allocated to the affected Classes. Any such consent by the Holder of this
Certificate shall be conclusive and binding on such Holder and upon all future
Holders of this Certificate and of any Certificate issued upon the transfer
hereof or in exchange herefor or in lieu hereof whether or not notation of such
consent is made upon this Certificate. The Agreement also permits the amendment
thereof, in certain limited circumstances, including any amendment necessary to
maintain the status of the Trust Fund (or designated portions thereof) as
consisting of two separate REMICs and one grantor trust, without the consent of
the Holders of any of the Certificates.

               Unless the certificate of authentication hereon has been executed
by the Certificate Registrar, by manual signature, this Certificate shall not be
entitled to any benefit under the Agreement or be valid for any purpose.

               The registered Holder hereof, by its acceptance hereof, agrees
that it will look solely to the Trust Fund (to the extent of its rights therein)
for distributions hereunder.

               This Certificate shall be construed in accordance with the
internal laws of the State of New York applicable to agreements made and to be
performed in said State, and the obligations, rights and remedies of the Holder
hereof shall be determined in accordance with such laws.

<PAGE>

               IN WITNESS WHEREOF, the Certificate Registrar has caused this
Certificate to be duly executed.

Dated: December 21, 2006

                                          WELLS FARGO BANK, N.A., as Certificate
                                              Registrar

                                          By: __________________________________
                                              Authorized Representative

                          CERTIFICATE OF AUTHENTICATION

               This is one of the Class A-2 Certificates referred to in the
within-mentioned Agreement.

                                          WELLS FARGO BANK, N.A., as
                                              Authenticating Agent

                                          By: __________________________________
                                              Authorized Representative

<PAGE>

                                   ASSIGNMENT

               FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and
transfer(s) unto ________________________________________________________
(please print or typewrite name and address including postal zip code of
assignee) the beneficial ownership interest in the Trust Fund evidenced by the
within Commercial Mortgage Pass-Through Certificate and hereby authorize(s) the
registration of transfer of such interest to assignee on the Certificate
Register of the Trust Fund.

               I (we) further direct the Certificate Registrar to issue a new
Commercial Mortgage Pass-Through Certificate of a like Percentage Interest and
Class to the above named assignee and deliver such Commercial Mortgage
Pass-Through Certificate to the following address:
_________________________________________________________________________.

Dated: _________________________

                                          ______________________________________
                                           Signature by or on behalf of Assignor

                                          ______________________________________
                                                  Signature Guaranteed

<PAGE>

                            DISTRIBUTION INSTRUCTIONS

               The Assignee should include the following for purposes of
distribution:

               Distributions shall, if permitted, be made by wire transfer or
otherwise, in immediately available funds, to _____________________________ for
the account of _______________.

               Distributions made by check (such check to be made payable to
_____________________) and all applicable statements and notices should be
mailed to _____________________________.

               This information is provided by ________________________________,
the Assignee named above, or ____________________________________, as its agent.

<PAGE>

                                   EXHIBIT A-3

                          FORM OF CLASS A-3 CERTIFICATE

             CLASS A-3 COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATE,
                                 SERIES 2006-C29

evidencing a beneficial ownership interest in a trust fund (the "Trust Fund")
consisting primarily of a pool of multifamily and commercial mortgage loans (the
"Mortgage Loans"), such pool being formed and sold by

                     WACHOVIA BANK COMMERCIAL MORTGAGE TRUST

Pass-Through Rate: [__]% per annum           Class Principal Balance of the
                                             Class A-3 Certificates as of the
                                             Closing Date: $161,040,000

Date of Pooling and Servicing Agreement:     Initial Certificate Principal
as of December 1, 2006                       Balance of this Class A-3
                                             Certificate as of the Closing Date:
                                             $161,040,000

Closing Date: December 21, 2006              Aggregate Stated Principal Balance
                                             of the Mortgage Loans as of the
                                             Cut-Off Date: $3,371,274,173

First Distribution Date: January 18, 2007

Master Servicer: Wachovia Bank, National     Trustee: Wells Fargo Bank, N.A.
Association

Special Servicer: LNR Partners, Inc.

Certificate No. A-3-1                        CUSIP No. [_]

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST CORPORATION, A NEW YORK CORPORATION ("DTC"), TO THE DEPOSITOR,
THE MASTER SERVICER, THE TRUSTEE, THE CERTIFICATE REGISTRAR OR ANY AGENT THEREOF
FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED
IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO
SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY
TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON
IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
HEREIN.

THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN WACHOVIA
COMMERCIAL MORTGAGE SECURITIES, INC., WELLS FARGO BANK, N.A., LNR PARTNERS,
INC., WACHOVIA BANK, NATIONAL ASSOCIATION OR ANY OF THEIR RESPECTIVE AFFILIATES.
NEITHER THIS CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS ARE GUARANTEED BY ANY
AGENCY OR INSTRUMENTALITY OF THE UNITED STATES OR ANY OTHER PERSON.

SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE IS A "REGULAR
INTEREST" IN A "REAL ESTATE MORTGAGE INVESTMENT CONDUIT" (A "REMIC") AS THOSE
TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL
REVENUE CODE OF 1986 (THE "CODE").

DISTRIBUTIONS IN REDUCTION OF THE CERTIFICATE PRINCIPAL BALANCE OF THIS
CERTIFICATE MAY BE MADE MONTHLY AS SET FORTH IN THE POOLING AND SERVICING
AGREEMENT REFERRED TO HEREIN. IN ADDITION, IF THE AGGREGATE CERTIFICATE
PRINCIPAL BALANCE OF THE CLASS A-M, CLASS A-J, CLASS B, CLASS C, CLASS D, CLASS
E, CLASS F, CLASS G, CLASS H, CLASS J, CLASS K, CLASS L, CLASS M, CLASS N, CLASS
O, CLASS P AND CLASS Q CERTIFICATES OF THE SAME SERIES IS REDUCED TO ZERO, THE
CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE, THE CLASS A-1 CERTIFICATES,
THE CLASS A-2 CERTIFICATES, THE CLASS A-PB CERTIFICATES, THE CLASS A-4
CERTIFICATES AND THE CLASS A-1A CERTIFICATES MAY BE REDUCED BY CERTAIN LOSSES
AND EXPENSES EXPERIENCED BY THE TRUST FUND AS SET FORTH IN THE AGREEMENT
REFERRED TO HEREIN. ACCORDINGLY, THE OUTSTANDING CERTIFICATE PRINCIPAL BALANCE
HEREOF AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ABOVE.

               This certifies that Cede & Co. is the registered owner of the
Percentage Interest evidenced by this Class A-3 Certificate (obtained by
dividing the principal amount of this Class A-3 Certificate (its "Certificate
Principal Balance") as of the Closing Date by the aggregate principal amount of
all the Class A-3 Certificates (their "Class Principal Balance") as of the
Closing Date) in that certain beneficial ownership interest evidenced by all the
Class A-3 Certificates in the Trust Fund created pursuant to a Pooling and
Servicing Agreement, dated as specified above (the "Agreement"), among Wachovia
Commercial Mortgage Securities, Inc. (herein called the "Depositor", which term
includes any successor entity under the Agreement), Wachovia Bank, National
Association (herein called the "Master Servicer", which term includes any
successor entity under the Agreement), LNR Partners, Inc. (herein called the
"Special Servicer", which term includes any successor entity under the
Agreement) and Wells Fargo Bank, N.A. (herein called the "Trustee", which term
includes any successor entity under the Agreement), a summary of certain of the
pertinent provisions of which is set forth hereafter. To the extent not defined
herein, the capitalized terms used herein have the respective meanings assigned
in the Agreement. This Certificate is issued under and is subject to the terms,
provisions and conditions of the Agreement, to which Agreement the Holder of
this Certificate by virtue of the acceptance hereof assents and by which such
Holder is bound.

               Pursuant to the terms of the Agreement, distributions will be
made on the fourth Business Day following the related Determination Date (each,
a "Distribution Date"). The Determination Date is the 11th day of each month or,
if such 11th day is not a Business Day, the Business Day immediately succeeding,
commencing in January 2007 (each, a "Determination Date"). Distributions will be
made commencing on the first Distribution Date specified above, to the Person in
whose name this Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such distribution
(the "Record Date"), in an amount equal to the product of the Percentage
Interest evidenced by this Certificate and the amount required to be distributed
to the Holders of the Class A-3 Certificates on the applicable Distribution Date
pursuant to the Agreement. All distributions made under the Agreement on the
Class A-3 Certificates will be made by Wells Fargo Bank, N.A., as paying agent
(the "Paying Agent"), by wire transfer of immediately available funds to the
account of the Person entitled thereto at a bank or other entity having
appropriate facilities therefor, if such Certificateholder shall have provided
the Paying Agent with wiring instructions no less than five Business Days prior
to the related Record Date (which wiring instructions may be in the form of a
standing order applicable to all subsequent distributions), or otherwise by
check mailed to the address of such Certificateholder as it appears in the
Certificate Register. Notwithstanding the foregoing, the final distribution on
this Certificate (determined without regard to any possible future reimbursement
of any Realized Loss or Additional Trust Fund Expense previously allocated to
this Certificate) will be made in like manner, but only upon presentation and
surrender of this Certificate at the offices of the Certificate Registrar or
such other location specified in the notice to the Holder hereof of such final
distribution. Also notwithstanding the foregoing, any distribution that may be
made with respect to this Certificate in reimbursement of any Realized Loss or
Additional Trust Fund Expense previously allocated to this Certificate, which
reimbursement is to occur after the date on which this Certificate is
surrendered as contemplated by the preceding sentence, will be made by check
mailed to the address of the Holder that surrenders this Certificate as such
address last appears in the Certificate Register or to any such other address of
which the Paying Agent is subsequently notified in writing.

               The Certificates are limited in right of distribution to certain
collections and recoveries respecting the Mortgage Loans and REO Loans, all as
more specifically set forth herein and in the Agreement. As provided in the
Agreement, withdrawals from the Certificate Account, the Distribution Account
and, if established, the REO Account may be made from time to time for purposes
other than, and, in certain cases, prior to, distributions to
Certificateholders, such purposes including the reimbursement of Advances made,
or certain expenses incurred, with respect to the Mortgage Loans and the payment
of interest on such Advances and expenses.

               Interest accrued on this Certificate during an Interest Accrual
Period, plus any unpaid interest shortfall with respect to this Certificate for
any prior Distribution Date, if any, will be payable on the related Distribution
Date to the extent provided in the Agreement. The "Interest Accrual Period" with
respect to any Distribution Date and with respect to the Class A-3 Certificates
is the calendar month preceding the month in which such Distribution Date occurs
and is assumed to consist of 30 days.

               Any distribution to the Holder of this Certificate in reduction
of the Certificate Principal Balance hereof is binding on such Holder and all
future Holders of this Certificate and any Certificate issued upon the transfer
hereof or in exchange herefor or in lieu hereof whether or not notation of such
distribution is made upon this Certificate.

               The Class A-3 Certificates are issuable in fully registered form
only without coupons in minimum denominations specified in the Agreement. As
provided in the Agreement and subject to certain limitations therein set forth,
the Class A-3 Certificates are exchangeable for new Class A-3 Certificates in
authorized denominations evidencing the same aggregate Percentage Interest, as
requested by the Holder surrendering the same.

               As provided in the Agreement and subject to certain limitations
therein set forth, the transfer of this Certificate is registrable in the
Certificate Register upon surrender of this Certificate for registration of
transfer at the offices of the Certificate Registrar, duly endorsed by, or
accompanied by a written instrument of transfer in the form satisfactory to the
Certificate Registrar duly executed by, the Holder hereof or his attorney duly
authorized in writing, and thereupon one or more new Class A-3 Certificates in
authorized denominations evidencing the same aggregate Percentage Interest will
be issued to the designated transferee or transferees.

               No service charge will be imposed for any registration of
transfer or exchange of Class A-3 Certificates, but the Certificate Registrar
may require payment of a sum sufficient to cover any tax or other governmental
charge that may be imposed in connection with any transfer or exchange of Class
A-3 Certificates.

               Notwithstanding the foregoing, for so long as this Certificate is
registered in the name of Cede & Co. or in such other name as is requested by an
authorized representative of DTC, transfers of interests in this Certificate
shall be made through the book-entry facilities of DTC.

               The Depositor, the Master Servicer, the Special Servicer, the
Trustee, the Paying Agent and the Certificate Registrar and any agent of the
Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying
Agent or the Certificate Registrar may treat the Person in whose name this
Certificate is registered as the owner hereof for all purposes whatsoever and
none of the Depositor, the Master Servicer, the Special Servicer, the Trustee,
the Paying Agent, the Certificate Registrar or any such agent shall be affected
by notice to the contrary.

               The Trust Fund and the obligations created by the Agreement shall
terminate upon distribution (or provision for distribution) to the
Certificateholders of all amounts held by or on behalf of the Trustee and
required to be distributed to them pursuant to the Agreement following the
earlier to occur of (i) the final payment (or any advance with respect thereto)
or other liquidation of the last Mortgage Loan or REO Property remaining in the
Trust Fund, and (ii) the purchase by the Master Servicer, the Special Servicer
or the Majority Subordinate Certificateholder at a price determined as provided
in the Agreement of all Mortgage Loans and each REO Property remaining in the
Trust Fund. The Agreement permits, but does not require, the Master Servicer,
the Special Servicer or the Majority Subordinate Certificateholder to purchase
from the Trust Fund all Mortgage Loans and each REO Property remaining therein.
The exercise of such right will effect early retirement of the Class A-3
Certificates; however, such right to purchase is subject to the aggregate Stated
Principal Balance of the Mortgage Pool at the time of purchase being less than
1% of the aggregate Stated Principal Balance of the Mortgage Loans as of the
Cut-Off Date specified on the face hereof.

               In addition, any exchange by any Certificateholder of all of the
then outstanding Certificates (other than the Class Z, Class R-I and Class R-II
Certificates) for all of the Mortgage Loans and each REO Property remaining in
the Trust Fund may be made: (i) if the then outstanding Certificates (other than
the Class Z, Class R-I and Class R-II Certificates) are held by a single
Certificateholder and (ii) the Class A-1, Class A-2, Class A-3, Class A-PB,
Class A-4, Class A-1A, Class A-M, Class A-J, Class B, Class C, Class D and Class
E Certificates have been paid in full.

               The Agreement permits, with certain exceptions therein provided,
the amendment thereof and the modification of the rights and obligations of the
Depositor, the Master Servicer, the Special Servicer and the Trustee and the
rights of the Certificateholders under the Agreement at any time by the
Depositor, the Master Servicer, the Special Servicer and the Trustee with the
consent of the Holders of Certificates entitled to at least 51% of the Voting
Rights allocated to the affected Classes. Any such consent by the Holder of this
Certificate shall be conclusive and binding on such Holder and upon all future
Holders of this Certificate and of any Certificate issued upon the transfer
hereof or in exchange herefor or in lieu hereof whether or not notation of such
consent is made upon this Certificate. The Agreement also permits the amendment
thereof, in certain limited circumstances, including any amendment necessary to
maintain the status of the Trust Fund (or designated portions thereof) as
consisting of two separate REMICs and one grantor trust, without the consent of
the Holders of any of the Certificates.

               Unless the certificate of authentication hereon has been executed
by the Certificate Registrar, by manual signature, this Certificate shall not be
entitled to any benefit under the Agreement or be valid for any purpose.

               The registered Holder hereof, by its acceptance hereof, agrees
that it will look solely to the Trust Fund (to the extent of its rights therein)
for distributions hereunder.

               This Certificate shall be construed in accordance with the
internal laws of the State of New York applicable to agreements made and to be
performed in said State, and the obligations, rights and remedies of the Holder
hereof shall be determined in accordance with such laws.

<PAGE>

               IN WITNESS WHEREOF, the Certificate Registrar has caused this
Certificate to be duly executed.

Dated: December 21, 2006

                                          WELLS FARGO BANK, N.A., as Certificate
                                              Registrar

                                          By: __________________________________
                                              Authorized Representative

                          CERTIFICATE OF AUTHENTICATION

               This is one of the Class A-3 Certificates referred to in the
within-mentioned Agreement.

                                          WELLS FARGO BANK, N.A., as
                                              Authenticating Agent

                                          By: __________________________________
                                              Authorized Representative

<PAGE>

                                   ASSIGNMENT

               FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and
transfer(s) unto ________________________________________________________
(please print or typewrite name and address including postal zip code of
assignee) the beneficial ownership interest in the Trust Fund evidenced by the
within Commercial Mortgage Pass-Through Certificate and hereby authorize(s) the
registration of transfer of such interest to assignee on the Certificate
Register of the Trust Fund.

               I (we) further direct the Certificate Registrar to issue a new
Commercial Mortgage Pass-Through Certificate of a like Percentage Interest and
Class to the above named assignee and deliver such Commercial Mortgage
Pass-Through Certificate to the following address:
_________________________________________________________________________.

Dated: _________________________

                                          ______________________________________
                                           Signature by or on behalf of Assignor

                                          ______________________________________
                                                  Signature Guaranteed

<PAGE>

                            DISTRIBUTION INSTRUCTIONS

               The Assignee should include the following for purposes of
distribution:

               Distributions shall, if permitted, be made by wire transfer or
otherwise, in immediately available funds, to _____________________________ for
the account of _______________.

               Distributions made by check (such check to be made payable to
_____________________) and all applicable statements and notices should be
mailed to _____________________________.

               This information is provided by ________________________________,
the Assignee named above, or ____________________________________, as its agent.

<PAGE>

                                   EXHIBIT A-4

                         FORM OF CLASS A-PB CERTIFICATE

            CLASS A-PB COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATE,
                                 SERIES 2006-C29

evidencing a beneficial ownership interest in a trust fund (the "Trust Fund")
consisting primarily of a pool of multifamily and commercial mortgage loans (the
"Mortgage Loans"), such pool being formed and sold by

                     WACHOVIA BANK COMMERCIAL MORTGAGE TRUST

Pass-Through Rate: [__]% per annum           Class Principal Balance of the
                                             Class A-PB Certificates as of the
                                             Closing Date: $49,254,000

Date of Pooling and Servicing Agreement:     Initial Certificate Principal
December 1, 2006                             Balance of this Class A-PB
                                             Certificate as of the Closing Date:
                                             $49,254,000

Closing Date: December 21, 2006              Aggregate Stated Principal Balance
                                             of the Mortgage Loans as of the
                                             Cut-Off Date: $3,371,274,173

First Distribution Date: January 18, 2007

Master Servicer: Wachovia Bank, National     Trustee: Wells Fargo Bank, N.A.
Association

Special Servicer: LNR Partners, Inc.

Certificate No. A-PB-1                       CUSIP No. [_]

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST CORPORATION, A NEW YORK CORPORATION ("DTC"), TO THE DEPOSITOR,
THE MASTER SERVICER, THE TRUSTEE, THE CERTIFICATE REGISTRAR OR ANY AGENT THEREOF
FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED
IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO
SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY
TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON
IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
HEREIN.

THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN WACHOVIA
COMMERCIAL MORTGAGE SECURITIES, INC., WELLS FARGO BANK, N.A., LNR PARTNERS,
INC., WACHOVIA BANK, NATIONAL ASSOCIATION OR ANY OF THEIR RESPECTIVE AFFILIATES.
NEITHER THIS CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS ARE GUARANTEED BY ANY
AGENCY OR INSTRUMENTALITY OF THE UNITED STATES OR ANY OTHER PERSON.

SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE IS A "REGULAR
INTEREST" IN A "REAL ESTATE MORTGAGE INVESTMENT CONDUIT" (A "REMIC") AS THOSE
TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL
REVENUE CODE OF 1986 (THE "CODE").

DISTRIBUTIONS IN REDUCTION OF THE CERTIFICATE PRINCIPAL BALANCE OF THIS
CERTIFICATE MAY BE MADE MONTHLY AS SET FORTH IN THE POOLING AND SERVICING
AGREEMENT REFERRED TO HEREIN. IN ADDITION, IF THE AGGREGATE CERTIFICATE
PRINCIPAL BALANCE OF THE CLASS A-M, CLASS A-J, CLASS B, CLASS C, CLASS D, CLASS
E, CLASS F, CLASS G, CLASS H, CLASS J, CLASS K, CLASS L, CLASS M, CLASS N, CLASS
O, CLASS P AND CLASS Q CERTIFICATES OF THE SAME SERIES IS REDUCED TO ZERO, THE
CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE, THE CLASS A-1 CERTIFICATES,
THE CLASS A-2 CERTIFICATES, THE CLASS A-3 CERTIFICATES AND THE CLASS A-1A
CERTIFICATES MAY BE REDUCED BY CERTAIN LOSSES AND EXPENSES EXPERIENCED BY THE
TRUST FUND AS SET FORTH IN THE AGREEMENT REFERRED TO HEREIN. ACCORDINGLY, THE
OUTSTANDING CERTIFICATE PRINCIPAL BALANCE HEREOF AT ANY TIME MAY BE LESS THAN
THE AMOUNT SHOWN ABOVE.

               This certifies that Cede & Co. is the registered owner of the
Percentage Interest evidenced by this Class A-PB Certificate (obtained by
dividing the principal amount of this Class A-PB Certificate (its "Certificate
Principal Balance") as of the Closing Date by the aggregate principal amount of
all the Class A-PB Certificates (their "Class Principal Balance") as of the
Closing Date) in that certain beneficial ownership interest evidenced by all the
Class A-PB Certificates in the Trust Fund created pursuant to a Pooling and
Servicing Agreement, dated as specified above (the "Agreement"), among Wachovia
Commercial Mortgage Securities, Inc. (herein called the "Depositor", which term
includes any successor entity under the Agreement), Wachovia Bank, National
Association (herein called the "Master Servicer", which term includes any
successor entity under the Agreement), LNR Partners, Inc. (herein called the
"Special Servicer", which term includes any successor entity under the
Agreement) and Wells Fargo Bank, N.A. (herein called the "Trustee", which term
includes any successor entity under the Agreement), a summary of certain of the
pertinent provisions of which is set forth hereafter. To the extent not defined
herein, the capitalized terms used herein have the respective meanings assigned
in the Agreement. This Certificate is issued under and is subject to the terms,
provisions and conditions of the Agreement, to which Agreement the Holder of
this Certificate by virtue of the acceptance hereof assents and by which such
Holder is bound.

               Pursuant to the terms of the Agreement, distributions will be
made on the fourth Business Day following the related Determination Date (each,
a "Distribution Date"). The Determination Date is the 11th day of each month or,
if such 11th day is not a Business Day, the Business Day immediately succeeding,
commencing in January 2007 (each, a "Determination Date"). Distributions will be
made commencing on the first Distribution Date specified above, to the Person in
whose name this Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such distribution
(the "Record Date"), in an amount equal to the product of the Percentage
Interest evidenced by this Certificate and the amount required to be distributed
to the Holders of the Class A-PB Certificates on the applicable Distribution
Date pursuant to the Agreement. All distributions made under the Agreement on
the Class A-PB Certificates will be made by Wells Fargo Bank, N.A., as paying
agent (the "Paying Agent"), by wire transfer of immediately available funds to
the account of the Person entitled thereto at a bank or other entity having
appropriate facilities therefor, if such Certificateholder shall have provided
the Paying Agent with wiring instructions no less than five Business Days prior
to the related Record Date (which wiring instructions may be in the form of a
standing order applicable to all subsequent distributions), or otherwise by
check mailed to the address of such Certificateholder as it appears in the
Certificate Register. Notwithstanding the foregoing, the final distribution on
this Certificate (determined without regard to any possible future reimbursement
of any Realized Loss or Additional Trust Fund Expense previously allocated to
this Certificate) will be made in like manner, but only upon presentation and
surrender of this Certificate at the offices of the Certificate Registrar or
such other location specified in the notice to the Holder hereof of such final
distribution. Also notwithstanding the foregoing, any distribution that may be
made with respect to this Certificate in reimbursement of any Realized Loss or
Additional Trust Fund Expense previously allocated to this Certificate, which
reimbursement is to occur after the date on which this Certificate is
surrendered as contemplated by the preceding sentence, will be made by check
mailed to the address of the Holder that surrenders this Certificate as such
address last appears in the Certificate Register or to any such other address of
which the Paying Agent is subsequently notified in writing.

               The Certificates are limited in right of distribution to certain
collections and recoveries respecting the Mortgage Loans and REO Loans, all as
more specifically set forth herein and in the Agreement. As provided in the
Agreement, withdrawals from the Certificate Account, the Distribution Account
and, if established, the REO Account may be made from time to time for purposes
other than, and, in certain cases, prior to, distributions to
Certificateholders, such purposes including the reimbursement of Advances made,
or certain expenses incurred, with respect to the Mortgage Loans and the payment
of interest on such Advances and expenses.

               Interest accrued on this Certificate during an Interest Accrual
Period, plus any unpaid interest shortfall with respect to this Certificate for
any prior Distribution Date, if any, will be payable on the related Distribution
Date to the extent provided in the Agreement. The "Interest Accrual Period" with
respect to any Distribution Date and with respect to the Class A-PB Certificates
is the calendar month preceding the month in which such Distribution Date occurs
and is assumed to consist of 30 days.

               Any distribution to the Holder of this Certificate in reduction
of the Certificate Principal Balance hereof is binding on such Holder and all
future Holders of this Certificate and any Certificate issued upon the transfer
hereof or in exchange herefor or in lieu hereof whether or not notation of such
distribution is made upon this Certificate.

               The Class A-PB Certificates are issuable in fully registered form
only without coupons in minimum denominations specified in the Agreement. As
provided in the Agreement and subject to certain limitations therein set forth,
the Class A-PB Certificates are exchangeable for new Class A-PB Certificates in
authorized denominations evidencing the same aggregate Percentage Interest, as
requested by the Holder surrendering the same.

               As provided in the Agreement and subject to certain limitations
therein set forth, the transfer of this Certificate is registrable in the
Certificate Register upon surrender of this Certificate for registration of
transfer at the offices of the Certificate Registrar, duly endorsed by, or
accompanied by a written instrument of transfer in the form satisfactory to the
Certificate Registrar duly executed by, the Holder hereof or his attorney duly
authorized in writing, and thereupon one or more new Class A-PB Certificates in
authorized denominations evidencing the same aggregate Percentage Interest will
be issued to the designated transferee or transferees.

               No service charge will be imposed for any registration of
transfer or exchange of Class A-PB Certificates, but the Certificate Registrar
may require payment of a sum sufficient to cover any tax or other governmental
charge that may be imposed in connection with any transfer or exchange of Class
A-PB Certificates.

               Notwithstanding the foregoing, for so long as this Certificate is
registered in the name of Cede & Co. or in such other name as is requested by an
authorized representative of DTC, transfers of interests in this Certificate
shall be made through the book-entry facilities of DTC.

               The Depositor, the Master Servicer, the Special Servicer, the
Trustee, the Paying Agent and the Certificate Registrar and any agent of the
Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying
Agent or the Certificate Registrar may treat the Person in whose name this
Certificate is registered as the owner hereof for all purposes whatsoever and
none of the Depositor, the Master Servicer, the Special Servicer, the Trustee,
the Paying Agent, the Certificate Registrar or any such agent shall be affected
by notice to the contrary.

               The Trust Fund and the obligations created by the Agreement shall
terminate upon distribution (or provision for distribution) to the
Certificateholders of all amounts held by or on behalf of the Trustee and
required to be distributed to them pursuant to the Agreement following the
earlier to occur of (i) the final payment (or any advance with respect thereto)
or other liquidation of the last Mortgage Loan or REO Property remaining in the
Trust Fund, and (ii) the purchase by the Master Servicer, the Special Servicer
or the Majority Subordinate Certificateholder at a price determined as provided
in the Agreement of all Mortgage Loans and each REO Property remaining in the
Trust Fund. The Agreement permits, but does not require, the Master Servicer,
the Special Servicer or the Majority Subordinate Certificateholder to purchase
from the Trust Fund all Mortgage Loans and each REO Property remaining therein.
The exercise of such right will effect early retirement of the Class A-PB
Certificates; however, such right to purchase is subject to the aggregate Stated
Principal Balance of the Mortgage Pool at the time of purchase being less than
1% of the aggregate Stated Principal Balance of the Mortgage Loans as of the
Cut-Off Date specified on the face hereof.

               In addition, any exchange by any Certificateholder of all of the
then outstanding Certificates (other than the Class Z, Class R-I and Class R-II
Certificates) for all of the Mortgage Loans and each REO Property remaining in
the Trust Fund may be made: (i) if the then outstanding Certificates (other than
the Class Z, Class R-I and Class R-II Certificates) are held by a single
Certificateholder and (ii) the Class A-1, Class A-2, Class A-3, Class A-PB,
Class A-4, Class A-1A, Class A-M, Class A-J, Class B, Class C, Class D and Class
E Certificates have been paid in full.

               The Agreement permits, with certain exceptions therein provided,
the amendment thereof and the modification of the rights and obligations of the
Depositor, the Master Servicer, the Special Servicer and the Trustee and the
rights of the Certificateholders under the Agreement at any time by the
Depositor, the Master Servicer, the Special Servicer and the Trustee with the
consent of the Holders of Certificates entitled to at least 51% of the Voting
Rights allocated to the affected Classes. Any such consent by the Holder of this
Certificate shall be conclusive and binding on such Holder and upon all future
Holders of this Certificate and of any Certificate issued upon the transfer
hereof or in exchange herefor or in lieu hereof whether or not notation of such
consent is made upon this Certificate. The Agreement also permits the amendment
thereof, in certain limited circumstances, including any amendment necessary to
maintain the status of the Trust Fund (or designated portions thereof) as
consisting of two separate REMICs and one grantor trust, without the consent of
the Holders of any of the Certificates.

               Unless the certificate of authentication hereon has been executed
by the Certificate Registrar, by manual signature, this Certificate shall not be
entitled to any benefit under the Agreement or be valid for any purpose.

               The registered Holder hereof, by its acceptance hereof, agrees
that it will look solely to the Trust Fund (to the extent of its rights therein)
for distributions hereunder.

               This Certificate shall be construed in accordance with the
internal laws of the State of New York applicable to agreements made and to be
performed in said State, and the obligations, rights and remedies of the Holder
hereof shall be determined in accordance with such laws.

<PAGE>

               IN WITNESS WHEREOF, the Certificate Registrar has caused this
Certificate to be duly executed.

Dated: December 21, 2006

                                          WELLS FARGO BANK, N.A., as Certificate
                                              Registrar

                                          By: __________________________________
                                              Authorized Representative

                          CERTIFICATE OF AUTHENTICATION

               This is one of the Class A-PB Certificates referred to in the
within-mentioned Agreement.

                                          WELLS FARGO BANK, N.A., as
                                              Authenticating Agent

                                          By: __________________________________
                                              Authorized Representative

<PAGE>

                                   ASSIGNMENT

               FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and
transfer(s) unto ________________________________________________________
(please print or typewrite name and address including postal zip code of
assignee) the beneficial ownership interest in the Trust Fund evidenced by the
within Commercial Mortgage Pass-Through Certificate and hereby authorize(s) the
registration of transfer of such interest to assignee on the Certificate
Register of the Trust Fund.

               I (we) further direct the Certificate Registrar to issue a new
Commercial Mortgage Pass-Through Certificate of a like Percentage Interest and
Class to the above named assignee and deliver such Commercial Mortgage
Pass-Through Certificate to the following address:
_________________________________________________________________________.

Dated: _________________________

                                          ______________________________________
                                           Signature by or on behalf of Assignor

                                          ______________________________________
                                                  Signature Guaranteed

<PAGE>

                            DISTRIBUTION INSTRUCTIONS

               The Assignee should include the following for purposes of
distribution:

               Distributions shall, if permitted, be made by wire transfer or
otherwise, in immediately available funds, to _____________________________ for
the account of _______________.

               Distributions made by check (such check to be made payable to
_____________________) and all applicable statements and notices should be
mailed to _____________________________.

               This information is provided by ________________________________,
the Assignee named above, or ____________________________________, as its agent.

<PAGE>

                                  EXHIBIT A-5-1

                          FORM OF CLASS A-4 CERTIFICATE

             CLASS A-4 COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATE,
                                 SERIES 2006-C29

evidencing a beneficial ownership interest in a trust fund (the "Trust Fund")
consisting primarily of a pool of multifamily and commercial mortgage loans (the
"Mortgage Loans"), such pool being formed and sold by

                     WACHOVIA BANK COMMERCIAL MORTGAGE TRUST

Pass-Through Rate: [__]% per annum           Class Principal Balance of the
                                             Class A-4 Certificates as of the
                                             Closing Date: $1,142,530,000

Date of Pooling and Servicing Agreement:     Initial Certificate Principal
as of December 1, 2006                       Balance of this Class A-4
                                             Certificate as of the Closing Date:
                                             $500,000,000

Closing Date: December 21, 2006              Aggregate Stated Principal Balance
                                             of the Mortgage Loans as of the
                                             Cut-Off Date: $3,371,274,173

First Distribution Date: January 18, 2007

Master Servicer: Wachovia Bank, National     Trustee: Wells Fargo Bank, N.A.
Association

Special Servicer: LNR Partners, Inc.

Certificate No. A-4-1                        CUSIP No. [_]

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST CORPORATION, A NEW YORK CORPORATION ("DTC"), TO THE DEPOSITOR,
THE MASTER SERVICER, THE TRUSTEE, THE CERTIFICATE REGISTRAR OR ANY AGENT THEREOF
FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED
IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO
SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY
TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON
IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
HEREIN.

THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN WACHOVIA
COMMERCIAL MORTGAGE SECURITIES, INC., WELLS FARGO BANK, N.A., LNR PARTNERS,
INC., WACHOVIA BANK, NATIONAL ASSOCIATION OR ANY OF THEIR RESPECTIVE AFFILIATES.
NEITHER THIS CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS ARE GUARANTEED BY ANY
AGENCY OR INSTRUMENTALITY OF THE UNITED STATES OR ANY OTHER PERSON.

SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE IS A "REGULAR
INTEREST" IN A "REAL ESTATE MORTGAGE INVESTMENT CONDUIT" (A "REMIC") AS THOSE
TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL
REVENUE CODE OF 1986 (THE "CODE").

DISTRIBUTIONS IN REDUCTION OF THE CERTIFICATE PRINCIPAL BALANCE OF THIS
CERTIFICATE MAY BE MADE MONTHLY AS SET FORTH IN THE POOLING AND SERVICING
AGREEMENT REFERRED TO HEREIN. IN ADDITION, IF THE AGGREGATE CERTIFICATE
PRINCIPAL BALANCE OF THE CLASS A-M, CLASS A-J, CLASS B, CLASS C, CLASS D, CLASS
E, CLASS F, CLASS G, CLASS H, CLASS J, CLASS K, CLASS L, CLASS M, CLASS N, CLASS
O, CLASS P AND CLASS Q CERTIFICATES OF THE SAME SERIES IS REDUCED TO ZERO, THE
CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE, THE CLASS A-1 CERTIFICATES,
THE CLASS A-2 CERTIFICATES, THE CLASS A-3 CERTIFICATES, THE CLASS A-PB
CERTIFICATES AND THE CLASS A-1A CERTIFICATES MAY BE REDUCED BY CERTAIN LOSSES
AND EXPENSES EXPERIENCED BY THE TRUST FUND AS SET FORTH IN THE AGREEMENT
REFERRED TO HEREIN. ACCORDINGLY, THE OUTSTANDING CERTIFICATE PRINCIPAL BALANCE
HEREOF AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ABOVE.

               This certifies that Cede & Co. is the registered owner of the
Percentage Interest evidenced by this Class A-4 Certificate (obtained by
dividing the principal amount of this Class A-4 Certificate (its "Certificate
Principal Balance") as of the Closing Date by the aggregate principal amount of
all the Class A-4 Certificates (their "Class Principal Balance") as of the
Closing Date) in that certain beneficial ownership interest evidenced by all the
Class A-4 Certificates in the Trust Fund created pursuant to a Pooling and
Servicing Agreement, dated as specified above (the "Agreement"), among Wachovia
Commercial Mortgage Securities, Inc. (herein called the "Depositor", which term
includes any successor entity under the Agreement), Wachovia Bank, National
Association (herein called the "Master Servicer", which term includes any
successor entity under the Agreement), LNR Partners, Inc. (herein called the
"Special Servicer", which term includes any successor entity under the
Agreement) and Wells Fargo Bank, N.A. (herein called the "Trustee", which term
includes any successor entity under the Agreement), a summary of certain of the
pertinent provisions of which is set forth hereafter. To the extent not defined
herein, the capitalized terms used herein have the respective meanings assigned
in the Agreement. This Certificate is issued under and is subject to the terms,
provisions and conditions of the Agreement, to which Agreement the Holder of
this Certificate by virtue of the acceptance hereof assents and by which such
Holder is bound.

               Pursuant to the terms of the Agreement, distributions will be
made on the fourth Business Day following the related Determination Date (each,
a "Distribution Date"). The Determination Date is the 11th day of each month or,
if such 11th day is not a Business Day, the Business Day immediately succeeding,
commencing in January 2007 (each, a "Determination Date"). Distributions will be
made commencing on the first Distribution Date specified above, to the Person in
whose name this Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such distribution
(the "Record Date"), in an amount equal to the product of the Percentage
Interest evidenced by this Certificate and the amount required to be distributed
to the Holders of the Class A-4 Certificates on the applicable Distribution Date
pursuant to the Agreement. All distributions made under the Agreement on the
Class A-4 Certificates will be made by Wells Fargo Bank, N.A., as paying agent
(the "Paying Agent"), by wire transfer of immediately available funds to the
account of the Person entitled thereto at a bank or other entity having
appropriate facilities therefor, if such Certificateholder shall have provided
the Paying Agent with wiring instructions no less than five Business Days prior
to the related Record Date (which wiring instructions may be in the form of a
standing order applicable to all subsequent distributions), or otherwise by
check mailed to the address of such Certificateholder as it appears in the
Certificate Register. Notwithstanding the foregoing, the final distribution on
this Certificate (determined without regard to any possible future reimbursement
of any Realized Loss or Additional Trust Fund Expense previously allocated to
this Certificate) will be made in like manner, but only upon presentation and
surrender of this Certificate at the offices of the Certificate Registrar or
such other location specified in the notice to the Holder hereof of such final
distribution. Also notwithstanding the foregoing, any distribution that may be
made with respect to this Certificate in reimbursement of any Realized Loss or
Additional Trust Fund Expense previously allocated to this Certificate, which
reimbursement is to occur after the date on which this Certificate is
surrendered as contemplated by the preceding sentence, will be made by check
mailed to the address of the Holder that surrenders this Certificate as such
address last appears in the Certificate Register or to any such other address of
which the Paying Agent is subsequently notified in writing.

               The Certificates are limited in right of distribution to certain
collections and recoveries respecting the Mortgage Loans and REO Loans, all as
more specifically set forth herein and in the Agreement. As provided in the
Agreement, withdrawals from the Certificate Account, the Distribution Account
and, if established, the REO Account may be made from time to time for purposes
other than, and, in certain cases, prior to, distributions to
Certificateholders, such purposes including the reimbursement of Advances made,
or certain expenses incurred, with respect to the Mortgage Loans and the payment
of interest on such Advances and expenses.

               Interest accrued on this Certificate during an Interest Accrual
Period, plus any unpaid interest shortfall with respect to this Certificate for
any prior Distribution Date, if any, will be payable on the related Distribution
Date to the extent provided in the Agreement. The "Interest Accrual Period" with
respect to any Distribution Date and with respect to the Class A-4 Certificates
is the calendar month preceding the month in which such Distribution Date occurs
and is assumed to consist of 30 days.

               Any distribution to the Holder of this Certificate in reduction
of the Certificate Principal Balance hereof is binding on such Holder and all
future Holders of this Certificate and any Certificate issued upon the transfer
hereof or in exchange herefor or in lieu hereof whether or not notation of such
distribution is made upon this Certificate.

               The Class A-4 Certificates are issuable in fully registered form
only without coupons in minimum denominations specified in the Agreement. As
provided in the Agreement and subject to certain limitations therein set forth,
the Class A-4 Certificates are exchangeable for new Class A-4 Certificates in
authorized denominations evidencing the same aggregate Percentage Interest, as
requested by the Holder surrendering the same.

               As provided in the Agreement and subject to certain limitations
therein set forth, the transfer of this Certificate is registrable in the
Certificate Register upon surrender of this Certificate for registration of
transfer at the offices of the Certificate Registrar, duly endorsed by, or
accompanied by a written instrument of transfer in the form satisfactory to the
Certificate Registrar duly executed by, the Holder hereof or his attorney duly
authorized in writing, and thereupon one or more new Class A-4 Certificates in
authorized denominations evidencing the same aggregate Percentage Interest will
be issued to the designated transferee or transferees.

               No service charge will be imposed for any registration of
transfer or exchange of Class A-4 Certificates, but the Certificate Registrar
may require payment of a sum sufficient to cover any tax or other governmental
charge that may be imposed in connection with any transfer or exchange of Class
A-4 Certificates.

               Notwithstanding the foregoing, for so long as this Certificate is
registered in the name of Cede & Co. or in such other name as is requested by an
authorized representative of DTC, transfers of interests in this Certificate
shall be made through the book-entry facilities of DTC.

               The Depositor, the Master Servicer, the Special Servicer, the
Trustee, the Paying Agent and the Certificate Registrar and any agent of the
Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying
Agent or the Certificate Registrar may treat the Person in whose name this
Certificate is registered as the owner hereof for all purposes whatsoever and
none of the Depositor, the Master Servicer, the Special Servicer, the Trustee,
the Paying Agent, the Certificate Registrar or any such agent shall be affected
by notice to the contrary.

               The Trust Fund and the obligations created by the Agreement shall
terminate upon distribution (or provision for distribution) to the
Certificateholders of all amounts held by or on behalf of the Trustee and
required to be distributed to them pursuant to the Agreement following the
earlier to occur of (i) the final payment (or any advance with respect thereto)
or other liquidation of the last Mortgage Loan or REO Property remaining in the
Trust Fund, and (ii) the purchase by the Master Servicer, the Special Servicer
or the Majority Subordinate Certificateholder at a price determined as provided
in the Agreement of all Mortgage Loans and each REO Property remaining in the
Trust Fund. The Agreement permits, but does not require, the Master Servicer,
the Special Servicer or the Majority Subordinate Certificateholder to purchase
from the Trust Fund all Mortgage Loans and each REO Property remaining therein.
The exercise of such right will effect early retirement of the Class A-4
Certificates; however, such right to purchase is subject to the aggregate Stated
Principal Balance of the Mortgage Pool at the time of purchase being less than
1% of the aggregate Stated Principal Balance of the Mortgage Loans as of the
Cut-Off Date specified on the face hereof.

               In addition, any exchange by any Certificateholder of all of the
then outstanding Certificates (other than the Class Z, Class R-I and Class R-II
Certificates) for all of the Mortgage Loans and each REO Property remaining in
the Trust Fund may be made: (i) if the then outstanding Certificates (other than
the Class Z, Class R-I and Class R-II Certificates) are held by a single
Certificateholder and (ii) the Class A-1, Class A-2, Class A-3, Class A-PB,
Class A-4, Class A-1A, Class A-M, Class A-J, Class B, Class C, Class D and Class
E Certificates have been paid in full.

               The Agreement permits, with certain exceptions therein provided,
the amendment thereof and the modification of the rights and obligations of the
Depositor, the Master Servicer, the Special Servicer and the Trustee and the
rights of the Certificateholders under the Agreement at any time by the
Depositor, the Master Servicer, the Special Servicer and the Trustee with the
consent of the Holders of Certificates entitled to at least 51% of the Voting
Rights allocated to the affected Classes. Any such consent by the Holder of this
Certificate shall be conclusive and binding on such Holder and upon all future
Holders of this Certificate and of any Certificate issued upon the transfer
hereof or in exchange herefor or in lieu hereof whether or not notation of such
consent is made upon this Certificate. The Agreement also permits the amendment
thereof, in certain limited circumstances, including any amendment necessary to
maintain the status of the Trust Fund (or designated portions thereof) as
consisting of two separate REMICs and one grantor trust, without the consent of
the Holders of any of the Certificates.

               Unless the certificate of authentication hereon has been executed
by the Certificate Registrar, by manual signature, this Certificate shall not be
entitled to any benefit under the Agreement or be valid for any purpose.

               The registered Holder hereof, by its acceptance hereof, agrees
that it will look solely to the Trust Fund (to the extent of its rights therein)
for distributions hereunder.

               This Certificate shall be construed in accordance with the
internal laws of the State of New York applicable to agreements made and to be
performed in said State, and the obligations, rights and remedies of the Holder
hereof shall be determined in accordance with such laws.

<PAGE>

               IN WITNESS WHEREOF, the Certificate Registrar has caused this
Certificate to be duly executed.

Dated: December 21, 2006

                                          WELLS FARGO BANK, N.A., as Certificate
                                              Registrar

                                          By: __________________________________
                                              Authorized Representative

                          CERTIFICATE OF AUTHENTICATION

               This is one of the Class A-4 Certificates referred to in the
within-mentioned Agreement.

                                          WELLS FARGO BANK, N.A., as
                                              Authenticating Agent

                                          By: __________________________________
                                              Authorized Representative

<PAGE>

                                   ASSIGNMENT

               FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and
transfer(s) unto ________________________________________________________
(please print or typewrite name and address including postal zip code of
assignee) the beneficial ownership interest in the Trust Fund evidenced by the
within Commercial Mortgage Pass-Through Certificate and hereby authorize(s) the
registration of transfer of such interest to assignee on the Certificate
Register of the Trust Fund.

               I (we) further direct the Certificate Registrar to issue a new
Commercial Mortgage Pass-Through Certificate of a like Percentage Interest and
Class to the above named assignee and deliver such Commercial Mortgage
Pass-Through Certificate to the following address:
_________________________________________________________________________.

Dated: _________________________

                                          ______________________________________
                                           Signature by or on behalf of Assignor

                                          ______________________________________
                                                  Signature Guaranteed

<PAGE>

                            DISTRIBUTION INSTRUCTIONS

               The Assignee should include the following for purposes of
distribution:

               Distributions shall, if permitted, be made by wire transfer or
otherwise, in immediately available funds, to _____________________________ for
the account of _______________.

               Distributions made by check (such check to be made payable to
_____________________) and all applicable statements and notices should be
mailed to _____________________________.

               This information is provided by ________________________________,
the Assignee named above, or ____________________________________, as its agent.

<PAGE>

                                  EXHIBIT A-5-2

                          FORM OF CLASS A-4 CERTIFICATE

             CLASS A-4 COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATE,
                                 SERIES 2006-C29

evidencing a beneficial ownership interest in a trust fund (the "Trust Fund")
consisting primarily of a pool of multifamily and commercial mortgage loans (the
"Mortgage Loans"), such pool being formed and sold by

                     WACHOVIA BANK COMMERCIAL MORTGAGE TRUST

Pass-Through Rate: [__]% per annum           Class Principal Balance of the
                                             Class A-4 Certificates as of the
                                             Closing Date: $1,142,530,000

Date of Pooling and Servicing Agreement:     Initial Certificate Principal
as of December 1, 2006                       Balance of this Class A-4
                                             Certificate as of the Closing Date:
                                             $500,000,000

Closing Date: December 21, 2006              Aggregate Stated Principal Balance
                                             of the Mortgage Loans as of the
                                             Cut-Off Date: $3,371,274,173

First Distribution Date: January 18, 2007

Master Servicer: Wachovia Bank, National     Trustee: Wells Fargo Bank, N.A.
Association

Special Servicer: LNR Partners, Inc.

Certificate No. A-4-2                        CUSIP No. [_]

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST CORPORATION, A NEW YORK CORPORATION ("DTC"), TO THE DEPOSITOR,
THE MASTER SERVICER, THE TRUSTEE, THE CERTIFICATE REGISTRAR OR ANY AGENT THEREOF
FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED
IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO
SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY
TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON
IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
HEREIN.

THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN WACHOVIA
COMMERCIAL MORTGAGE SECURITIES, INC., WELLS FARGO BANK, N.A., LNR PARTNERS,
INC., WACHOVIA BANK, NATIONAL ASSOCIATION OR ANY OF THEIR RESPECTIVE AFFILIATES.
NEITHER THIS CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS ARE GUARANTEED BY ANY
AGENCY OR INSTRUMENTALITY OF THE UNITED STATES OR ANY OTHER PERSON.

SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE IS A "REGULAR
INTEREST" IN A "REAL ESTATE MORTGAGE INVESTMENT CONDUIT" (A "REMIC") AS THOSE
TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL
REVENUE CODE OF 1986 (THE "CODE").

DISTRIBUTIONS IN REDUCTION OF THE CERTIFICATE PRINCIPAL BALANCE OF THIS
CERTIFICATE MAY BE MADE MONTHLY AS SET FORTH IN THE POOLING AND SERVICING
AGREEMENT REFERRED TO HEREIN. IN ADDITION, IF THE AGGREGATE CERTIFICATE
PRINCIPAL BALANCE OF THE CLASS A-M, CLASS A-J, CLASS B, CLASS C, CLASS D, CLASS
E, CLASS F, CLASS G, CLASS H, CLASS J, CLASS K, CLASS L, CLASS M, CLASS N, CLASS
O, CLASS P AND CLASS Q CERTIFICATES OF THE SAME SERIES IS REDUCED TO ZERO, THE
CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE, THE CLASS A-1 CERTIFICATES,
THE CLASS A-2 CERTIFICATES, THE CLASS A-3 CERTIFICATES, THE CLASS A-PB
CERTIFICATES AND THE CLASS A-1A CERTIFICATES MAY BE REDUCED BY CERTAIN LOSSES
AND EXPENSES EXPERIENCED BY THE TRUST FUND AS SET FORTH IN THE AGREEMENT
REFERRED TO HEREIN. ACCORDINGLY, THE OUTSTANDING CERTIFICATE PRINCIPAL BALANCE
HEREOF AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ABOVE.

               This certifies that Cede & Co. is the registered owner of the
Percentage Interest evidenced by this Class A-4 Certificate (obtained by
dividing the principal amount of this Class A-4 Certificate (its "Certificate
Principal Balance") as of the Closing Date by the aggregate principal amount of
all the Class A-4 Certificates (their "Class Principal Balance") as of the
Closing Date) in that certain beneficial ownership interest evidenced by all the
Class A-4 Certificates in the Trust Fund created pursuant to a Pooling and
Servicing Agreement, dated as specified above (the "Agreement"), among Wachovia
Commercial Mortgage Securities, Inc. (herein called the "Depositor", which term
includes any successor entity under the Agreement), Wachovia Bank, National
Association (herein called the "Master Servicer", which term includes any
successor entity under the Agreement), LNR Partners, Inc. (herein called the
"Special Servicer", which term includes any successor entity under the
Agreement) and Wells Fargo Bank, N.A. (herein called the "Trustee", which term
includes any successor entity under the Agreement), a summary of certain of the
pertinent provisions of which is set forth hereafter. To the extent not defined
herein, the capitalized terms used herein have the respective meanings assigned
in the Agreement. This Certificate is issued under and is subject to the terms,
provisions and conditions of the Agreement, to which Agreement the Holder of
this Certificate by virtue of the acceptance hereof assents and by which such
Holder is bound.

               Pursuant to the terms of the Agreement, distributions will be
made on the fourth Business Day following the related Determination Date (each,
a "Distribution Date"). The Determination Date is the 11th day of each month or,
if such 11th day is not a Business Day, the Business Day immediately succeeding,
commencing in January 2007 (each, a "Determination Date"). Distributions will be
made commencing on the first Distribution Date specified above, to the Person in
whose name this Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such distribution
(the "Record Date"), in an amount equal to the product of the Percentage
Interest evidenced by this Certificate and the amount required to be distributed
to the Holders of the Class A-4 Certificates on the applicable Distribution Date
pursuant to the Agreement. All distributions made under the Agreement on the
Class A-4 Certificates will be made by Wells Fargo Bank, N.A., as paying agent
(the "Paying Agent"), by wire transfer of immediately available funds to the
account of the Person entitled thereto at a bank or other entity having
appropriate facilities therefor, if such Certificateholder shall have provided
the Paying Agent with wiring instructions no less than five Business Days prior
to the related Record Date (which wiring instructions may be in the form of a
standing order applicable to all subsequent distributions), or otherwise by
check mailed to the address of such Certificateholder as it appears in the
Certificate Register. Notwithstanding the foregoing, the final distribution on
this Certificate (determined without regard to any possible future reimbursement
of any Realized Loss or Additional Trust Fund Expense previously allocated to
this Certificate) will be made in like manner, but only upon presentation and
surrender of this Certificate at the offices of the Certificate Registrar or
such other location specified in the notice to the Holder hereof of such final
distribution. Also notwithstanding the foregoing, any distribution that may be
made with respect to this Certificate in reimbursement of any Realized Loss or
Additional Trust Fund Expense previously allocated to this Certificate, which
reimbursement is to occur after the date on which this Certificate is
surrendered as contemplated by the preceding sentence, will be made by check
mailed to the address of the Holder that surrenders this Certificate as such
address last appears in the Certificate Register or to any such other address of
which the Paying Agent is subsequently notified in writing.

               The Certificates are limited in right of distribution to certain
collections and recoveries respecting the Mortgage Loans and REO Loans, all as
more specifically set forth herein and in the Agreement. As provided in the
Agreement, withdrawals from the Certificate Account, the Distribution Account
and, if established, the REO Account may be made from time to time for purposes
other than, and, in certain cases, prior to, distributions to
Certificateholders, such purposes including the reimbursement of Advances made,
or certain expenses incurred, with respect to the Mortgage Loans and the payment
of interest on such Advances and expenses.

               Interest accrued on this Certificate during an Interest Accrual
Period, plus any unpaid interest shortfall with respect to this Certificate for
any prior Distribution Date, if any, will be payable on the related Distribution
Date to the extent provided in the Agreement. The "Interest Accrual Period" with
respect to any Distribution Date and with respect to the Class A-4 Certificates
is the calendar month preceding the month in which such Distribution Date occurs
and is assumed to consist of 30 days.

               Any distribution to the Holder of this Certificate in reduction
of the Certificate Principal Balance hereof is binding on such Holder and all
future Holders of this Certificate and any Certificate issued upon the transfer
hereof or in exchange herefor or in lieu hereof whether or not notation of such
distribution is made upon this Certificate.

               The Class A-4 Certificates are issuable in fully registered form
only without coupons in minimum denominations specified in the Agreement. As
provided in the Agreement and subject to certain limitations therein set forth,
the Class A-4 Certificates are exchangeable for new Class A-4 Certificates in
authorized denominations evidencing the same aggregate Percentage Interest, as
requested by the Holder surrendering the same.

               As provided in the Agreement and subject to certain limitations
therein set forth, the transfer of this Certificate is registrable in the
Certificate Register upon surrender of this Certificate for registration of
transfer at the offices of the Certificate Registrar, duly endorsed by, or
accompanied by a written instrument of transfer in the form satisfactory to the
Certificate Registrar duly executed by, the Holder hereof or his attorney duly
authorized in writing, and thereupon one or more new Class A-4 Certificates in
authorized denominations evidencing the same aggregate Percentage Interest will
be issued to the designated transferee or transferees.

               No service charge will be imposed for any registration of
transfer or exchange of Class A-4 Certificates, but the Certificate Registrar
may require payment of a sum sufficient to cover any tax or other governmental
charge that may be imposed in connection with any transfer or exchange of Class
A-4 Certificates.

               Notwithstanding the foregoing, for so long as this Certificate is
registered in the name of Cede & Co. or in such other name as is requested by an
authorized representative of DTC, transfers of interests in this Certificate
shall be made through the book-entry facilities of DTC.

               The Depositor, the Master Servicer, the Special Servicer, the
Trustee, the Paying Agent and the Certificate Registrar and any agent of the
Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying
Agent or the Certificate Registrar may treat the Person in whose name this
Certificate is registered as the owner hereof for all purposes whatsoever and
none of the Depositor, the Master Servicer, the Special Servicer, the Trustee,
the Paying Agent, the Certificate Registrar or any such agent shall be affected
by notice to the contrary.

               The Trust Fund and the obligations created by the Agreement shall
terminate upon distribution (or provision for distribution) to the
Certificateholders of all amounts held by or on behalf of the Trustee and
required to be distributed to them pursuant to the Agreement following the
earlier to occur of (i) the final payment (or any advance with respect thereto)
or other liquidation of the last Mortgage Loan or REO Property remaining in the
Trust Fund, and (ii) the purchase by the Master Servicer, the Special Servicer
or the Majority Subordinate Certificateholder at a price determined as provided
in the Agreement of all Mortgage Loans and each REO Property remaining in the
Trust Fund. The Agreement permits, but does not require, the Master Servicer,
the Special Servicer or the Majority Subordinate Certificateholder to purchase
from the Trust Fund all Mortgage Loans and each REO Property remaining therein.
The exercise of such right will effect early retirement of the Class A-4
Certificates; however, such right to purchase is subject to the aggregate Stated
Principal Balance of the Mortgage Pool at the time of purchase being less than
1% of the aggregate Stated Principal Balance of the Mortgage Loans as of the
Cut-Off Date specified on the face hereof.

               In addition, any exchange by any Certificateholder of all of the
then outstanding Certificates (other than the Class Z, Class R-I and Class R-II
Certificates) for all of the Mortgage Loans and each REO Property remaining in
the Trust Fund may be made: (i) if the then outstanding Certificates (other than
the Class Z, Class R-I and Class R-II Certificates) are held by a single
Certificateholder and (ii) the Class A-1, Class A-2, Class A-3, Class A-PB,
Class A-4, Class A-1A, Class A-M, Class A-J, Class B, Class C, Class D and Class
E Certificates have been paid in full.

               The Agreement permits, with certain exceptions therein provided,
the amendment thereof and the modification of the rights and obligations of the
Depositor, the Master Servicer, the Special Servicer and the Trustee and the
rights of the Certificateholders under the Agreement at any time by the
Depositor, the Master Servicer, the Special Servicer and the Trustee with the
consent of the Holders of Certificates entitled to at least 51% of the Voting
Rights allocated to the affected Classes. Any such consent by the Holder of this
Certificate shall be conclusive and binding on such Holder and upon all future
Holders of this Certificate and of any Certificate issued upon the transfer
hereof or in exchange herefor or in lieu hereof whether or not notation of such
consent is made upon this Certificate. The Agreement also permits the amendment
thereof, in certain limited circumstances, including any amendment necessary to
maintain the status of the Trust Fund (or designated portions thereof) as
consisting of two separate REMICs and one grantor trust, without the consent of
the Holders of any of the Certificates.

               Unless the certificate of authentication hereon has been executed
by the Certificate Registrar, by manual signature, this Certificate shall not be
entitled to any benefit under the Agreement or be valid for any purpose.

               The registered Holder hereof, by its acceptance hereof, agrees
that it will look solely to the Trust Fund (to the extent of its rights therein)
for distributions hereunder.

               This Certificate shall be construed in accordance with the
internal laws of the State of New York applicable to agreements made and to be
performed in said State, and the obligations, rights and remedies of the Holder
hereof shall be determined in accordance with such laws.

<PAGE>

               IN WITNESS WHEREOF, the Certificate Registrar has caused this
Certificate to be duly executed.

Dated: December 21, 2006

                                          WELLS FARGO BANK, N.A., as Certificate
                                              Registrar

                                          By: __________________________________
                                              Authorized Representative

                          CERTIFICATE OF AUTHENTICATION

               This is one of the Class A-4 Certificates referred to in the
within-mentioned Agreement.

                                          WELLS FARGO BANK, N.A., as
                                              Authenticating Agent

                                          By: __________________________________
                                              Authorized Representative

<PAGE>

                                   ASSIGNMENT

               FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and
transfer(s) unto ________________________________________________________
(please print or typewrite name and address including postal zip code of
assignee) the beneficial ownership interest in the Trust Fund evidenced by the
within Commercial Mortgage Pass-Through Certificate and hereby authorize(s) the
registration of transfer of such interest to assignee on the Certificate
Register of the Trust Fund.

               I (we) further direct the Certificate Registrar to issue a new
Commercial Mortgage Pass-Through Certificate of a like Percentage Interest and
Class to the above named assignee and deliver such Commercial Mortgage
Pass-Through Certificate to the following address:
_________________________________________________________________________.

Dated: _________________________

                                          ______________________________________
                                           Signature by or on behalf of Assignor

                                          ______________________________________
                                                  Signature Guaranteed

<PAGE>

                            DISTRIBUTION INSTRUCTIONS

               The Assignee should include the following for purposes of
distribution:

               Distributions shall, if permitted, be made by wire transfer or
otherwise, in immediately available funds, to _____________________________ for
the account of _______________.

               Distributions made by check (such check to be made payable to
_____________________) and all applicable statements and notices should be
mailed to _____________________________.

               This information is provided by ________________________________,
the Assignee named above, or ____________________________________, as its agent.

<PAGE>

                                  EXHIBIT A-5-3

                          FORM OF CLASS A-4 CERTIFICATE

             CLASS A-4 COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATE,
                                 SERIES 2006-C29

evidencing a beneficial ownership interest in a trust fund (the "Trust Fund")
consisting primarily of a pool of multifamily and commercial mortgage loans (the
"Mortgage Loans"), such pool being formed and sold by

                     WACHOVIA BANK COMMERCIAL MORTGAGE TRUST

Pass-Through Rate: [__]% per annum           Class Principal Balance of the
                                             Class A-4 Certificates as of the
                                             Closing Date: $1,142,530,000

Date of Pooling and Servicing Agreement:     Initial Certificate Principal
as of December 1, 2006                       Balance of this Class A-4
                                             Certificate as of the Closing Date:
                                             $142,531,000

Closing Date: December 21, 2006              Aggregate Stated Principal Balance
                                             of the Mortgage Loans as of the
                                             Cut-Off Date: $3,371,274,173

First Distribution Date: January 18, 2007

Master Servicer: Wachovia Bank, National     Trustee: Wells Fargo Bank, N.A.
Association

Special Servicer: LNR Partners, Inc.

Certificate No. A-4-3                        CUSIP No. [_]

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST CORPORATION, A NEW YORK CORPORATION ("DTC"), TO THE DEPOSITOR,
THE MASTER SERVICER, THE TRUSTEE, THE CERTIFICATE REGISTRAR OR ANY AGENT THEREOF
FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED
IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO
SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY
TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON
IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
HEREIN.

THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN WACHOVIA
COMMERCIAL MORTGAGE SECURITIES, INC., WELLS FARGO BANK, N.A., LNR PARTNERS,
INC., WACHOVIA BANK, NATIONAL ASSOCIATION OR ANY OF THEIR RESPECTIVE AFFILIATES.
NEITHER THIS CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS ARE GUARANTEED BY ANY
AGENCY OR INSTRUMENTALITY OF THE UNITED STATES OR ANY OTHER PERSON.

SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE IS A "REGULAR
INTEREST" IN A "REAL ESTATE MORTGAGE INVESTMENT CONDUIT" (A "REMIC") AS THOSE
TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL
REVENUE CODE OF 1986 (THE "CODE").

DISTRIBUTIONS IN REDUCTION OF THE CERTIFICATE PRINCIPAL BALANCE OF THIS
CERTIFICATE MAY BE MADE MONTHLY AS SET FORTH IN THE POOLING AND SERVICING
AGREEMENT REFERRED TO HEREIN. IN ADDITION, IF THE AGGREGATE CERTIFICATE
PRINCIPAL BALANCE OF THE CLASS A-M, CLASS A-J, CLASS B, CLASS C, CLASS D, CLASS
E, CLASS F, CLASS G, CLASS H, CLASS J, CLASS K, CLASS L, CLASS M, CLASS N, CLASS
O, CLASS P AND CLASS Q CERTIFICATES OF THE SAME SERIES IS REDUCED TO ZERO, THE
CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE, THE CLASS A-1 CERTIFICATES,
THE CLASS A-2 CERTIFICATES, THE CLASS A-3 CERTIFICATES, THE CLASS A-PB
CERTIFICATES AND THE CLASS A-1A CERTIFICATES MAY BE REDUCED BY CERTAIN LOSSES
AND EXPENSES EXPERIENCED BY THE TRUST FUND AS SET FORTH IN THE AGREEMENT
REFERRED TO HEREIN. ACCORDINGLY, THE OUTSTANDING CERTIFICATE PRINCIPAL BALANCE
HEREOF AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ABOVE.

               This certifies that Cede & Co. is the registered owner of the
Percentage Interest evidenced by this Class A-4 Certificate (obtained by
dividing the principal amount of this Class A-4 Certificate (its "Certificate
Principal Balance") as of the Closing Date by the aggregate principal amount of
all the Class A-4 Certificates (their "Class Principal Balance") as of the
Closing Date) in that certain beneficial ownership interest evidenced by all the
Class A-4 Certificates in the Trust Fund created pursuant to a Pooling and
Servicing Agreement, dated as specified above (the "Agreement"), among Wachovia
Commercial Mortgage Securities, Inc. (herein called the "Depositor", which term
includes any successor entity under the Agreement), Wachovia Bank, National
Association (herein called the "Master Servicer", which term includes any
successor entity under the Agreement), LNR Partners, Inc. (herein called the
"Special Servicer", which term includes any successor entity under the
Agreement) and Wells Fargo Bank, N.A. (herein called the "Trustee", which term
includes any successor entity under the Agreement), a summary of certain of the
pertinent provisions of which is set forth hereafter. To the extent not defined
herein, the capitalized terms used herein have the respective meanings assigned
in the Agreement. This Certificate is issued under and is subject to the terms,
provisions and conditions of the Agreement, to which Agreement the Holder of
this Certificate by virtue of the acceptance hereof assents and by which such
Holder is bound.

               Pursuant to the terms of the Agreement, distributions will be
made on the fourth Business Day following the related Determination Date (each,
a "Distribution Date"). The Determination Date is the 11th day of each month or,
if such 11th day is not a Business Day, the Business Day immediately succeeding,
commencing in January 2007 (each, a "Determination Date"). Distributions will be
made commencing on the first Distribution Date specified above, to the Person in
whose name this Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such distribution
(the "Record Date"), in an amount equal to the product of the Percentage
Interest evidenced by this Certificate and the amount required to be distributed
to the Holders of the Class A-4 Certificates on the applicable Distribution Date
pursuant to the Agreement. All distributions made under the Agreement on the
Class A-4 Certificates will be made by Wells Fargo Bank, N.A., as paying agent
(the "Paying Agent"), by wire transfer of immediately available funds to the
account of the Person entitled thereto at a bank or other entity having
appropriate facilities therefor, if such Certificateholder shall have provided
the Paying Agent with wiring instructions no less than five Business Days prior
to the related Record Date (which wiring instructions may be in the form of a
standing order applicable to all subsequent distributions), or otherwise by
check mailed to the address of such Certificateholder as it appears in the
Certificate Register. Notwithstanding the foregoing, the final distribution on
this Certificate (determined without regard to any possible future reimbursement
of any Realized Loss or Additional Trust Fund Expense previously allocated to
this Certificate) will be made in like manner, but only upon presentation and
surrender of this Certificate at the offices of the Certificate Registrar or
such other location specified in the notice to the Holder hereof of such final
distribution. Also notwithstanding the foregoing, any distribution that may be
made with respect to this Certificate in reimbursement of any Realized Loss or
Additional Trust Fund Expense previously allocated to this Certificate, which
reimbursement is to occur after the date on which this Certificate is
surrendered as contemplated by the preceding sentence, will be made by check
mailed to the address of the Holder that surrenders this Certificate as such
address last appears in the Certificate Register or to any such other address of
which the Paying Agent is subsequently notified in writing.

               The Certificates are limited in right of distribution to certain
collections and recoveries respecting the Mortgage Loans and REO Loans, all as
more specifically set forth herein and in the Agreement. As provided in the
Agreement, withdrawals from the Certificate Account, the Distribution Account
and, if established, the REO Account may be made from time to time for purposes
other than, and, in certain cases, prior to, distributions to
Certificateholders, such purposes including the reimbursement of Advances made,
or certain expenses incurred, with respect to the Mortgage Loans and the payment
of interest on such Advances and expenses.

               Interest accrued on this Certificate during an Interest Accrual
Period, plus any unpaid interest shortfall with respect to this Certificate for
any prior Distribution Date, if any, will be payable on the related Distribution
Date to the extent provided in the Agreement. The "Interest Accrual Period" with
respect to any Distribution Date and with respect to the Class A-4 Certificates
is the calendar month preceding the month in which such Distribution Date occurs
and is assumed to consist of 30 days.

               Any distribution to the Holder of this Certificate in reduction
of the Certificate Principal Balance hereof is binding on such Holder and all
future Holders of this Certificate and any Certificate issued upon the transfer
hereof or in exchange herefor or in lieu hereof whether or not notation of such
distribution is made upon this Certificate.

               The Class A-4 Certificates are issuable in fully registered form
only without coupons in minimum denominations specified in the Agreement. As
provided in the Agreement and subject to certain limitations therein set forth,
the Class A-4 Certificates are exchangeable for new Class A-4 Certificates in
authorized denominations evidencing the same aggregate Percentage Interest, as
requested by the Holder surrendering the same.

               As provided in the Agreement and subject to certain limitations
therein set forth, the transfer of this Certificate is registrable in the
Certificate Register upon surrender of this Certificate for registration of
transfer at the offices of the Certificate Registrar, duly endorsed by, or
accompanied by a written instrument of transfer in the form satisfactory to the
Certificate Registrar duly executed by, the Holder hereof or his attorney duly
authorized in writing, and thereupon one or more new Class A-4 Certificates in
authorized denominations evidencing the same aggregate Percentage Interest will
be issued to the designated transferee or transferees.

               No service charge will be imposed for any registration of
transfer or exchange of Class A-4 Certificates, but the Certificate Registrar
may require payment of a sum sufficient to cover any tax or other governmental
charge that may be imposed in connection with any transfer or exchange of Class
A-4 Certificates.

               Notwithstanding the foregoing, for so long as this Certificate is
registered in the name of Cede & Co. or in such other name as is requested by an
authorized representative of DTC, transfers of interests in this Certificate
shall be made through the book-entry facilities of DTC.

               The Depositor, the Master Servicer, the Special Servicer, the
Trustee, the Paying Agent and the Certificate Registrar and any agent of the
Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying
Agent or the Certificate Registrar may treat the Person in whose name this
Certificate is registered as the owner hereof for all purposes whatsoever and
none of the Depositor, the Master Servicer, the Special Servicer, the Trustee,
the Paying Agent, the Certificate Registrar or any such agent shall be affected
by notice to the contrary.

               The Trust Fund and the obligations created by the Agreement shall
terminate upon distribution (or provision for distribution) to the
Certificateholders of all amounts held by or on behalf of the Trustee and
required to be distributed to them pursuant to the Agreement following the
earlier to occur of (i) the final payment (or any advance with respect thereto)
or other liquidation of the last Mortgage Loan or REO Property remaining in the
Trust Fund, and (ii) the purchase by the Master Servicer, the Special Servicer
or the Majority Subordinate Certificateholder at a price determined as provided
in the Agreement of all Mortgage Loans and each REO Property remaining in the
Trust Fund. The Agreement permits, but does not require, the Master Servicer,
the Special Servicer or the Majority Subordinate Certificateholder to purchase
from the Trust Fund all Mortgage Loans and each REO Property remaining therein.
The exercise of such right will effect early retirement of the Class A-4
Certificates; however, such right to purchase is subject to the aggregate Stated
Principal Balance of the Mortgage Pool at the time of purchase being less than
1% of the aggregate Stated Principal Balance of the Mortgage Loans as of the
Cut-Off Date specified on the face hereof.

               In addition, any exchange by any Certificateholder of all of the
then outstanding Certificates (other than the Class Z, Class R-I and Class R-II
Certificates) for all of the Mortgage Loans and each REO Property remaining in
the Trust Fund may be made: (i) if the then outstanding Certificates (other than
the Class Z, Class R-I and Class R-II Certificates) are held by a single
Certificateholder and (ii) the Class A-1, Class A-2, Class A-3, Class A-PB,
Class A-4, Class A-1A, Class A-M, Class A-J, Class B, Class C, Class D and Class
E Certificates have been paid in full.

               The Agreement permits, with certain exceptions therein provided,
the amendment thereof and the modification of the rights and obligations of the
Depositor, the Master Servicer, the Special Servicer and the Trustee and the
rights of the Certificateholders under the Agreement at any time by the
Depositor, the Master Servicer, the Special Servicer and the Trustee with the
consent of the Holders of Certificates entitled to at least 51% of the Voting
Rights allocated to the affected Classes. Any such consent by the Holder of this
Certificate shall be conclusive and binding on such Holder and upon all future
Holders of this Certificate and of any Certificate issued upon the transfer
hereof or in exchange herefor or in lieu hereof whether or not notation of such
consent is made upon this Certificate. The Agreement also permits the amendment
thereof, in certain limited circumstances, including any amendment necessary to
maintain the status of the Trust Fund (or designated portions thereof) as
consisting of two separate REMICs and one grantor trust, without the consent of
the Holders of any of the Certificates.

               Unless the certificate of authentication hereon has been executed
by the Certificate Registrar, by manual signature, this Certificate shall not be
entitled to any benefit under the Agreement or be valid for any purpose.

               The registered Holder hereof, by its acceptance hereof, agrees
that it will look solely to the Trust Fund (to the extent of its rights therein)
for distributions hereunder.

               This Certificate shall be construed in accordance with the
internal laws of the State of New York applicable to agreements made and to be
performed in said State, and the obligations, rights and remedies of the Holder
hereof shall be determined in accordance with such laws.

<PAGE>

               IN WITNESS WHEREOF, the Certificate Registrar has caused this
Certificate to be duly executed.

Dated: December 21, 2006

                                          WELLS FARGO BANK, N.A., as Certificate
                                              Registrar

                                          By: __________________________________
                                              Authorized Representative

                          CERTIFICATE OF AUTHENTICATION

               This is one of the Class A-4 Certificates referred to in the
within-mentioned Agreement.

                                          WELLS FARGO BANK, N.A., as
                                              Authenticating Agent

                                          By: __________________________________
                                              Authorized Representative

<PAGE>

                                   ASSIGNMENT

               FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and
transfer(s) unto ________________________________________________________
(please print or typewrite name and address including postal zip code of
assignee) the beneficial ownership interest in the Trust Fund evidenced by the
within Commercial Mortgage Pass-Through Certificate and hereby authorize(s) the
registration of transfer of such interest to assignee on the Certificate
Register of the Trust Fund.

               I (we) further direct the Certificate Registrar to issue a new
Commercial Mortgage Pass-Through Certificate of a like Percentage Interest and
Class to the above named assignee and deliver such Commercial Mortgage
Pass-Through Certificate to the following address:
_________________________________________________________________________.

Dated: _________________________
                                          ______________________________________
                                           Signature by or on behalf of Assignor

                                          ______________________________________
                                                  Signature Guaranteed

<PAGE>

                            DISTRIBUTION INSTRUCTIONS

               The Assignee should include the following for purposes of
distribution:

               Distributions shall, if permitted, be made by wire transfer or
otherwise, in immediately available funds, to _____________________________ for
the account of _______________.

               Distributions made by check (such check to be made payable to
_____________________) and all applicable statements and notices should be
mailed to _____________________________.

               This information is provided by ________________________________,
the Assignee named above, or ____________________________________, as its agent.

<PAGE>

                                  EXHIBIT A-6-1

                         FORM OF CLASS A-1A CERTIFICATE

            CLASS A-1A COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATE,
                                 SERIES 2006-C29

evidencing a beneficial ownership interest in a trust fund (the "Trust Fund")
consisting primarily of a pool of multifamily and commercial mortgage loans (the
"Mortgage Loans"), such pool being formed and sold by

                     WACHOVIA BANK COMMERCIAL MORTGAGE TRUST

Pass-Through Rate: Variable                  Class Principal Balance of the
                                             Class A-1A Certificates as of the
                                             Closing Date: $699,011,000

Date of Pooling and Servicing Agreement:     Initial Certificate Principal
as of December 1, 2006                       Balance of this Class A-1A
                                             Certificate as of the Closing Date:
                                             $500,000,000

Closing Date: December 21, 2006              Aggregate Stated Principal Balance
                                             of the Mortgage Loans as of the
                                             Cut-Off Date: $3,371,274,173

First Distribution Date: January 18, 2007

Master Servicer: Wachovia Bank, National     Trustee: Wells Fargo Bank, N.A.
Association

Special Servicer: LNR Partners, Inc.

Certificate No. A-1A-1                       CUSIP No. [_]

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST CORPORATION, A NEW YORK CORPORATION ("DTC"), TO THE DEPOSITOR,
THE MASTER SERVICER, THE TRUSTEE, THE CERTIFICATE REGISTRAR OR ANY AGENT THEREOF
FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED
IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO
SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY
TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON
IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
HEREIN.

THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN WACHOVIA
COMMERCIAL MORTGAGE SECURITIES, INC., WELLS FARGO BANK, N.A., LNR PARTNERS,
INC., WACHOVIA BANK, NATIONAL ASSOCIATION OR ANY OF THEIR RESPECTIVE AFFILIATES.
NEITHER THIS CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS ARE GUARANTEED BY ANY
AGENCY OR INSTRUMENTALITY OF THE UNITED STATES OR ANY OTHER PERSON.

SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE IS A "REGULAR
INTEREST" IN A "REAL ESTATE MORTGAGE INVESTMENT CONDUIT" (A "REMIC") AS THOSE
TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL
REVENUE CODE OF 1986 (THE "CODE").

DISTRIBUTIONS IN REDUCTION OF THE CERTIFICATE PRINCIPAL BALANCE OF THIS
CERTIFICATE MAY BE MADE MONTHLY AS SET FORTH IN THE POOLING AND SERVICING
AGREEMENT REFERRED TO HEREIN. IN ADDITION, IF THE AGGREGATE CERTIFICATE
PRINCIPAL BALANCE OF THE CLASS A-M, CLASS A-J, CLASS B, CLASS C, CLASS D, CLASS
E, CLASS F, CLASS G, CLASS H, CLASS J, CLASS K, CLASS L, CLASS M, CLASS N, CLASS
O, CLASS P AND CLASS Q CERTIFICATES OF THE SAME SERIES IS REDUCED TO ZERO, THE
CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE, THE CLASS A-1 CERTIFICATES,
THE CLASS A-2 CERTIFICATES, THE CLASS A-3 CERTIFICATES, THE CLASS A-PB
CERTIFICATES AND THE CLASS A-4 CERTIFICATES MAY BE REDUCED BY CERTAIN LOSSES AND
EXPENSES EXPERIENCED BY THE TRUST FUND AS SET FORTH IN THE AGREEMENT REFERRED TO
HEREIN. ACCORDINGLY, THE OUTSTANDING CERTIFICATE PRINCIPAL BALANCE HEREOF AT ANY
TIME MAY BE LESS THAN THE AMOUNT SHOWN ABOVE.

               This certifies that Cede & Co. is the registered owner of the
Percentage Interest evidenced by this Class A-1A Certificate (obtained by
dividing the principal amount of this Class A-1A Certificate (its "Certificate
Principal Balance") as of the Closing Date by the aggregate principal amount of
all the Class A-1A Certificates (their "Class Principal Balance") as of the
Closing Date) in that certain beneficial ownership interest evidenced by all the
Class A-1A Certificates in the Trust Fund created pursuant to a Pooling and
Servicing Agreement, dated as specified above (the "Agreement"), among Wachovia
Commercial Mortgage Securities, Inc. (herein called the "Depositor", which term
includes any successor entity under the Agreement), Wachovia Bank, National
Association (herein called the "Master Servicer", which term includes any
successor entity under the Agreement), LNR Partners, Inc. (herein called the
"Special Servicer", which term includes any successor entity under the
Agreement) and Wells Fargo Bank, N.A. (herein called the "Trustee"), which term
includes any successor entity under the Agreement), a summary of certain of the
pertinent provisions of which is set forth hereafter. To the extent not defined
herein, the capitalized terms used herein have the respective meanings assigned
in the Agreement. This Certificate is issued under and is subject to the terms,
provisions and conditions of the Agreement, to which Agreement the Holder of
this Certificate by virtue of the acceptance hereof assents and by which such
Holder is bound.

               Pursuant to the terms of the Agreement, distributions will be
made on the fourth Business Day following the related Determination Date (each,
a "Distribution Date"). The Determination Date is the 11th day of each month or,
if such 11th day is not a Business Day, the Business Day immediately succeeding,
commencing in January 2007 (each, a "Determination Date"). Distributions will be
made commencing on the first Distribution Date specified above, to the Person in
whose name this Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such distribution
(the "Record Date"), in an amount equal to the product of the Percentage
Interest evidenced by this Certificate and the amount required to be distributed
to the Holders of the Class A-1A Certificates on the applicable Distribution
Date pursuant to the Agreement. All distributions made under the Agreement on
the Class A-1A Certificates will be made by Wells Fargo Bank, N.A., as paying
agent (the "Paying Agent"), by wire transfer of immediately available funds to
the account of the Person entitled thereto at a bank or other entity having
appropriate facilities therefor, if such Certificateholder shall have provided
the Paying Agent with wiring instructions no less than five Business Days prior
to the related Record Date (which wiring instructions may be in the form of a
standing order applicable to all subsequent distributions), or otherwise by
check mailed to the address of such Certificateholder as it appears in the
Certificate Register. Notwithstanding the foregoing, the final distribution on
this Certificate (determined without regard to any possible future reimbursement
of any Realized Loss or Additional Trust Fund Expense previously allocated to
this Certificate) will be made in like manner, but only upon presentation and
surrender of this Certificate at the offices of the Certificate Registrar or
such other location specified in the notice to the Holder hereof of such final
distribution. Also notwithstanding the foregoing, any distribution that may be
made with respect to this Certificate in reimbursement of any Realized Loss or
Additional Trust Fund Expense previously allocated to this Certificate, which
reimbursement is to occur after the date on which this Certificate is
surrendered as contemplated by the preceding sentence, will be made by check
mailed to the address of the Holder that surrenders this Certificate as such
address last appears in the Certificate Register or to any such other address of
which the Paying Agent is subsequently notified in writing.

               The Certificates are limited in right of distribution to certain
collections and recoveries respecting the Mortgage Loans and REO Loans, all as
more specifically set forth herein and in the Agreement. As provided in the
Agreement, withdrawals from the Certificate Account, the Distribution Account
and, if established, the REO Account may be made from time to time for purposes
other than, and, in certain cases, prior to, distributions to
Certificateholders, such purposes including the reimbursement of Advances made,
or certain expenses incurred, with respect to the Mortgage Loans and the payment
of interest on such Advances and expenses.

               Interest accrued on this Certificate during an Interest Accrual
Period, plus any unpaid interest shortfall with respect to this Certificate for
any prior Distribution Date, if any, will be payable on the related Distribution
Date to the extent provided in the Agreement. The "Interest Accrual Period" with
respect to any Distribution Date and with respect to the Class A-1A Certificates
is the calendar month preceding the month in which such Distribution Date occurs
and is assumed to consist of 30 days.

               Any distribution to the Holder of this Certificate in reduction
of the Certificate Principal Balance hereof is binding on such Holder and all
future Holders of this Certificate and any Certificate issued upon the transfer
hereof or in exchange herefor or in lieu hereof whether or not notation of such
distribution is made upon this Certificate.

               The Class A-1A Certificates are issuable in fully registered form
only without coupons in minimum denominations specified in the Agreement. As
provided in the Agreement and subject to certain limitations therein set forth,
the Class A-1A Certificates are exchangeable for new Class A-1A Certificates in
authorized denominations evidencing the same aggregate Percentage Interest, as
requested by the Holder surrendering the same.

               As provided in the Agreement and subject to certain limitations
therein set forth, the transfer of this Certificate is registrable in the
Certificate Register upon surrender of this Certificate for registration of
transfer at the offices of the Certificate Registrar, duly endorsed by, or
accompanied by a written instrument of transfer in the form satisfactory to the
Certificate Registrar duly executed by, the Holder hereof or his attorney duly
authorized in writing, and thereupon one or more new Class A-1A Certificates in
authorized denominations evidencing the same aggregate Percentage Interest will
be issued to the designated transferee or transferees.

               No service charge will be imposed for any registration of
transfer or exchange of Class A-1A Certificates, but the Certificate Registrar
may require payment of a sum sufficient to cover any tax or other governmental
charge that may be imposed in connection with any transfer or exchange of Class
A-1A Certificates.

               Notwithstanding the foregoing, for so long as this Certificate is
registered in the name of Cede & Co. or in such other name as is requested by an
authorized representative of DTC, transfers of interests in this Certificate
shall be made through the book-entry facilities of DTC.

               The Depositor, the Master Servicer, the Special Servicer, the
Trustee, the Paying Agent and the Certificate Registrar and any agent of the
Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying
Agent or the Certificate Registrar may treat the Person in whose name this
Certificate is registered as the owner hereof for all purposes whatsoever and
none of the Depositor, the Master Servicer, the Special Servicer, the Trustee,
the Paying Agent, the Certificate Registrar or any such agent shall be affected
by notice to the contrary.

               The Trust Fund and the obligations created by the Agreement shall
terminate upon distribution (or provision for distribution) to the
Certificateholders of all amounts held by or on behalf of the Trustee and
required to be distributed to them pursuant to the Agreement following the
earlier to occur of (i) the final payment (or any advance with respect thereto)
or other liquidation of the last Mortgage Loan or REO Property remaining in the
Trust Fund, and (ii) the purchase by the Master Servicer, the Special Servicer
or the Majority Subordinate Certificateholder at a price determined as provided
in the Agreement of all Mortgage Loans and each REO Property remaining in the
Trust Fund. The Agreement permits, but does not require, the Master Servicer,
the Special Servicer or the Majority Subordinate Certificateholder to purchase
from the Trust Fund all Mortgage Loans and each REO Property remaining therein.
The exercise of such right will effect early retirement of the Class A-1A
Certificates; however, such right to purchase is subject to the aggregate Stated
Principal Balance of the Mortgage Pool at the time of purchase being less than
1% of the aggregate Stated Principal Balance of the Mortgage Loans as of the
Cut-Off Date specified on the face hereof.

               In addition, any exchange by any Certificateholder of all of the
then outstanding Certificates (other than the Class Z, Class R-I and Class R-II
Certificates) for all of the Mortgage Loans and each REO Property remaining in
the Trust Fund may be made: (i) if the then outstanding Certificates (other than
the Class Z, Class R-I and Class R-II Certificates) are held by a single
Certificateholder and (ii) the Class A-1, Class A-2, Class A-3, Class A-PB,
Class A-4, Class A-1A, Class A-M, Class A-J, Class B, Class C, Class D and Class
E Certificates have been paid in full.

               The Agreement permits, with certain exceptions therein provided,
the amendment thereof and the modification of the rights and obligations of the
Depositor, the Master Servicer, the Special Servicer and the Trustee and the
rights of the Certificateholders under the Agreement at any time by the
Depositor, the Master Servicer, the Special Servicer and the Trustee with the
consent of the Holders of Certificates entitled to at least 51% of the Voting
Rights allocated to the affected Classes. Any such consent by the Holder of this
Certificate shall be conclusive and binding on such Holder and upon all future
Holders of this Certificate and of any Certificate issued upon the transfer
hereof or in exchange herefor or in lieu hereof whether or not notation of such
consent is made upon this Certificate. The Agreement also permits the amendment
thereof, in certain limited circumstances, including any amendment necessary to
maintain the status of the Trust Fund (or designated portions thereof) as
consisting of two separate REMICs and one grantor trust, without the consent of
the Holders of any of the Certificates.

               Unless the certificate of authentication hereon has been executed
by the Certificate Registrar, by manual signature, this Certificate shall not be
entitled to any benefit under the Agreement or be valid for any purpose.

               The registered Holder hereof, by its acceptance hereof, agrees
that it will look solely to the Trust Fund (to the extent of its rights therein)
for distributions hereunder.

               This Certificate shall be construed in accordance with the
internal laws of the State of New York applicable to agreements made and to be
performed in said State, and the obligations, rights and remedies of the Holder
hereof shall be determined in accordance with such laws.

<PAGE>

               IN WITNESS WHEREOF, the Certificate Registrar has caused this
Certificate to be duly executed.

Dated: December 21, 2006

                                          WELLS FARGO BANK, N.A., as Certificate
                                              Registrar

                                          By: __________________________________
                                              Authorized Representative

                          CERTIFICATE OF AUTHENTICATION

               This is one of the Class A-1A Certificates referred to in the
within-mentioned Agreement.

                                          WELLS FARGO BANK, N.A., as
                                              Authenticating Agent

                                          By: __________________________________
                                              Authorized Representative

<PAGE>

                                   ASSIGNMENT

               FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and
transfer(s) unto ________________________________________________________
(please print or typewrite name and address including postal zip code of
assignee) the beneficial ownership interest in the Trust Fund evidenced by the
within Commercial Mortgage Pass-Through Certificate and hereby authorize(s) the
registration of transfer of such interest to assignee on the Certificate
Register of the Trust Fund.

               I (we) further direct the Certificate Registrar to issue a new
Commercial Mortgage Pass-Through Certificate of a like Percentage Interest and
Class to the above named assignee and deliver such Commercial Mortgage
Pass-Through Certificate to the following address:
_________________________________________________________________________.

Dated: _________________________

                                          ______________________________________
                                           Signature by or on behalf of Assignor

                                          ______________________________________
                                                  Signature Guaranteed

<PAGE>

                            DISTRIBUTION INSTRUCTIONS

               The Assignee should include the following for purposes of
distribution:

               Distributions shall, if permitted, be made by wire transfer or
otherwise, in immediately available funds, to _____________________________ for
the account of _______________.

               Distributions made by check (such check to be made payable to
_____________________) and all applicable statements and notices should be
mailed to _____________________________.

               This information is provided by ________________________________,
the Assignee named above, or ____________________________________, as its agent.

<PAGE>

                                  EXHIBIT A-6-2

                         FORM OF CLASS A-1A CERTIFICATE

            CLASS A-1A COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATE,
                                 SERIES 2006-C29

evidencing a beneficial ownership interest in a trust fund (the "Trust Fund")
consisting primarily of a pool of multifamily and commercial mortgage loans (the
"Mortgage Loans"), such pool being formed and sold by

                     WACHOVIA BANK COMMERCIAL MORTGAGE TRUST

Pass-Through Rate: Variable                  Class Principal Balance of the
                                             Class A-1A Certificates as of the
                                             Closing Date: $699,011,000

Date of Pooling and Servicing Agreement:     Initial Certificate Principal
as of December 1, 2006                       Balance of this Class A-1A
                                             Certificate as of the Closing Date:
                                             $199,011,000

Closing Date: December 21, 2006              Aggregate Stated Principal Balance
                                             of the Mortgage Loans as of the
                                             Cut-Off Date: $3,371,274,173

First Distribution Date: January 18, 2007

Master Servicer: Wachovia Bank, National     Trustee: Wells Fargo Bank, N.A.
Association

Special Servicer: LNR Partners, Inc.

Certificate No. A-1A-2                       CUSIP No. [_]

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST CORPORATION, A NEW YORK CORPORATION ("DTC"), TO THE DEPOSITOR,
THE MASTER SERVICER, THE TRUSTEE, THE CERTIFICATE REGISTRAR OR ANY AGENT THEREOF
FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED
IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO
SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY
TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON
IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
HEREIN.

THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN WACHOVIA
COMMERCIAL MORTGAGE SECURITIES, INC., WELLS FARGO BANK, N.A., LNR PARTNERS,
INC., WACHOVIA BANK, NATIONAL ASSOCIATION OR ANY OF THEIR RESPECTIVE AFFILIATES.
NEITHER THIS CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS ARE GUARANTEED BY ANY
AGENCY OR INSTRUMENTALITY OF THE UNITED STATES OR ANY OTHER PERSON.

SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE IS A "REGULAR
INTEREST" IN A "REAL ESTATE MORTGAGE INVESTMENT CONDUIT" (A "REMIC") AS THOSE
TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL
REVENUE CODE OF 1986 (THE "CODE").

DISTRIBUTIONS IN REDUCTION OF THE CERTIFICATE PRINCIPAL BALANCE OF THIS
CERTIFICATE MAY BE MADE MONTHLY AS SET FORTH IN THE POOLING AND SERVICING
AGREEMENT REFERRED TO HEREIN. IN ADDITION, IF THE AGGREGATE CERTIFICATE
PRINCIPAL BALANCE OF THE CLASS A-M, CLASS A-J, CLASS B, CLASS C, CLASS D, CLASS
E, CLASS F, CLASS G, CLASS H, CLASS J, CLASS K, CLASS L, CLASS M, CLASS N, CLASS
O, CLASS P AND CLASS Q CERTIFICATES OF THE SAME SERIES IS REDUCED TO ZERO, THE
CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE, THE CLASS A-1 CERTIFICATES,
THE CLASS A-2 CERTIFICATES, THE CLASS A-3 CERTIFICATES, THE CLASS A-PB
CERTIFICATES AND THE CLASS A-4 CERTIFICATES MAY BE REDUCED BY CERTAIN LOSSES AND
EXPENSES EXPERIENCED BY THE TRUST FUND AS SET FORTH IN THE AGREEMENT REFERRED TO
HEREIN. ACCORDINGLY, THE OUTSTANDING CERTIFICATE PRINCIPAL BALANCE HEREOF AT ANY
TIME MAY BE LESS THAN THE AMOUNT SHOWN ABOVE.

               This certifies that Cede & Co. is the registered owner of the
Percentage Interest evidenced by this Class A-1A Certificate (obtained by
dividing the principal amount of this Class A-1A Certificate (its "Certificate
Principal Balance") as of the Closing Date by the aggregate principal amount of
all the Class A-1A Certificates (their "Class Principal Balance") as of the
Closing Date) in that certain beneficial ownership interest evidenced by all the
Class A-1A Certificates in the Trust Fund created pursuant to a Pooling and
Servicing Agreement, dated as specified above (the "Agreement"), among Wachovia
Commercial Mortgage Securities, Inc. (herein called the "Depositor", which term
includes any successor entity under the Agreement), Wachovia Bank, National
Association (herein called the "Master Servicer", which term includes any
successor entity under the Agreement), LNR Partners, Inc. (herein called the
"Special Servicer", which term includes any successor entity under the
Agreement) and Wells Fargo Bank, N.A. (herein called the "Trustee"), which term
includes any successor entity under the Agreement), a summary of certain of the
pertinent provisions of which is set forth hereafter. To the extent not defined
herein, the capitalized terms used herein have the respective meanings assigned
in the Agreement. This Certificate is issued under and is subject to the terms,
provisions and conditions of the Agreement, to which Agreement the Holder of
this Certificate by virtue of the acceptance hereof assents and by which such
Holder is bound.

               Pursuant to the terms of the Agreement, distributions will be
made on the fourth Business Day following the related Determination Date (each,
a "Distribution Date"). The Determination Date is the 11th day of each month or,
if such 11th day is not a Business Day, the Business Day immediately succeeding,
commencing in January 2007 (each, a "Determination Date"). Distributions will be
made commencing on the first Distribution Date specified above, to the Person in
whose name this Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such distribution
(the "Record Date"), in an amount equal to the product of the Percentage
Interest evidenced by this Certificate and the amount required to be distributed
to the Holders of the Class A-1A Certificates on the applicable Distribution
Date pursuant to the Agreement. All distributions made under the Agreement on
the Class A-1A Certificates will be made by Wells Fargo Bank, N.A., as paying
agent (the "Paying Agent"), by wire transfer of immediately available funds to
the account of the Person entitled thereto at a bank or other entity having
appropriate facilities therefor, if such Certificateholder shall have provided
the Paying Agent with wiring instructions no less than five Business Days prior
to the related Record Date (which wiring instructions may be in the form of a
standing order applicable to all subsequent distributions), or otherwise by
check mailed to the address of such Certificateholder as it appears in the
Certificate Register. Notwithstanding the foregoing, the final distribution on
this Certificate (determined without regard to any possible future reimbursement
of any Realized Loss or Additional Trust Fund Expense previously allocated to
this Certificate) will be made in like manner, but only upon presentation and
surrender of this Certificate at the offices of the Certificate Registrar or
such other location specified in the notice to the Holder hereof of such final
distribution. Also notwithstanding the foregoing, any distribution that may be
made with respect to this Certificate in reimbursement of any Realized Loss or
Additional Trust Fund Expense previously allocated to this Certificate, which
reimbursement is to occur after the date on which this Certificate is
surrendered as contemplated by the preceding sentence, will be made by check
mailed to the address of the Holder that surrenders this Certificate as such
address last appears in the Certificate Register or to any such other address of
which the Paying Agent is subsequently notified in writing.

               The Certificates are limited in right of distribution to certain
collections and recoveries respecting the Mortgage Loans and REO Loans, all as
more specifically set forth herein and in the Agreement. As provided in the
Agreement, withdrawals from the Certificate Account, the Distribution Account
and, if established, the REO Account may be made from time to time for purposes
other than, and, in certain cases, prior to, distributions to
Certificateholders, such purposes including the reimbursement of Advances made,
or certain expenses incurred, with respect to the Mortgage Loans and the payment
of interest on such Advances and expenses.

               Interest accrued on this Certificate during an Interest Accrual
Period, plus any unpaid interest shortfall with respect to this Certificate for
any prior Distribution Date, if any, will be payable on the related Distribution
Date to the extent provided in the Agreement. The "Interest Accrual Period" with
respect to any Distribution Date and with respect to the Class A-1A Certificates
is the calendar month preceding the month in which such Distribution Date occurs
and is assumed to consist of 30 days.

               Any distribution to the Holder of this Certificate in reduction
of the Certificate Principal Balance hereof is binding on such Holder and all
future Holders of this Certificate and any Certificate issued upon the transfer
hereof or in exchange herefor or in lieu hereof whether or not notation of such
distribution is made upon this Certificate.

               The Class A-1A Certificates are issuable in fully registered form
only without coupons in minimum denominations specified in the Agreement. As
provided in the Agreement and subject to certain limitations therein set forth,
the Class A-1A Certificates are exchangeable for new Class A-1A Certificates in
authorized denominations evidencing the same aggregate Percentage Interest, as
requested by the Holder surrendering the same.

               As provided in the Agreement and subject to certain limitations
therein set forth, the transfer of this Certificate is registrable in the
Certificate Register upon surrender of this Certificate for registration of
transfer at the offices of the Certificate Registrar, duly endorsed by, or
accompanied by a written instrument of transfer in the form satisfactory to the
Certificate Registrar duly executed by, the Holder hereof or his attorney duly
authorized in writing, and thereupon one or more new Class A-1A Certificates in
authorized denominations evidencing the same aggregate Percentage Interest will
be issued to the designated transferee or transferees.

               No service charge will be imposed for any registration of
transfer or exchange of Class A-1A Certificates, but the Certificate Registrar
may require payment of a sum sufficient to cover any tax or other governmental
charge that may be imposed in connection with any transfer or exchange of Class
A-1A Certificates.

               Notwithstanding the foregoing, for so long as this Certificate is
registered in the name of Cede & Co. or in such other name as is requested by an
authorized representative of DTC, transfers of interests in this Certificate
shall be made through the book-entry facilities of DTC.

               The Depositor, the Master Servicer, the Special Servicer, the
Trustee, the Paying Agent and the Certificate Registrar and any agent of the
Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying
Agent or the Certificate Registrar may treat the Person in whose name this
Certificate is registered as the owner hereof for all purposes whatsoever and
none of the Depositor, the Master Servicer, the Special Servicer, the Trustee,
the Paying Agent, the Certificate Registrar or any such agent shall be affected
by notice to the contrary.

               The Trust Fund and the obligations created by the Agreement shall
terminate upon distribution (or provision for distribution) to the
Certificateholders of all amounts held by or on behalf of the Trustee and
required to be distributed to them pursuant to the Agreement following the
earlier to occur of (i) the final payment (or any advance with respect thereto)
or other liquidation of the last Mortgage Loan or REO Property remaining in the
Trust Fund, and (ii) the purchase by the Master Servicer, the Special Servicer
or the Majority Subordinate Certificateholder at a price determined as provided
in the Agreement of all Mortgage Loans and each REO Property remaining in the
Trust Fund. The Agreement permits, but does not require, the Master Servicer,
the Special Servicer or the Majority Subordinate Certificateholder to purchase
from the Trust Fund all Mortgage Loans and each REO Property remaining therein.
The exercise of such right will effect early retirement of the Class A-1A
Certificates; however, such right to purchase is subject to the aggregate Stated
Principal Balance of the Mortgage Pool at the time of purchase being less than
1% of the aggregate Stated Principal Balance of the Mortgage Loans as of the
Cut-Off Date specified on the face hereof.

               In addition, any exchange by any Certificateholder of all of the
then outstanding Certificates (other than the Class Z, Class R-I and Class R-II
Certificates) for all of the Mortgage Loans and each REO Property remaining in
the Trust Fund may be made: (i) if the then outstanding Certificates (other than
the Class Z, Class R-I and Class R-II Certificates) are held by a single
Certificateholder and (ii) the Class A-1, Class A-2, Class A-3, Class A-PB,
Class A-4, Class A-1A, Class A-M, Class A-J, Class B, Class C, Class D and Class
E Certificates have been paid in full.

               The Agreement permits, with certain exceptions therein provided,
the amendment thereof and the modification of the rights and obligations of the
Depositor, the Master Servicer, the Special Servicer and the Trustee and the
rights of the Certificateholders under the Agreement at any time by the
Depositor, the Master Servicer, the Special Servicer and the Trustee with the
consent of the Holders of Certificates entitled to at least 51% of the Voting
Rights allocated to the affected Classes. Any such consent by the Holder of this
Certificate shall be conclusive and binding on such Holder and upon all future
Holders of this Certificate and of any Certificate issued upon the transfer
hereof or in exchange herefor or in lieu hereof whether or not notation of such
consent is made upon this Certificate. The Agreement also permits the amendment
thereof, in certain limited circumstances, including any amendment necessary to
maintain the status of the Trust Fund (or designated portions thereof) as
consisting of two separate REMICs and one grantor trust, without the consent of
the Holders of any of the Certificates.

               Unless the certificate of authentication hereon has been executed
by the Certificate Registrar, by manual signature, this Certificate shall not be
entitled to any benefit under the Agreement or be valid for any purpose.

               The registered Holder hereof, by its acceptance hereof, agrees
that it will look solely to the Trust Fund (to the extent of its rights therein)
for distributions hereunder.

               This Certificate shall be construed in accordance with the
internal laws of the State of New York applicable to agreements made and to be
performed in said State, and the obligations, rights and remedies of the Holder
hereof shall be determined in accordance with such laws.

<PAGE>

               IN WITNESS WHEREOF, the Certificate Registrar has caused this
Certificate to be duly executed.

Dated: December 21, 2006

                                          WELLS FARGO BANK, N.A., as Certificate
                                              Registrar

                                          By: __________________________________
                                              Authorized Representative

                          CERTIFICATE OF AUTHENTICATION

               This is one of the Class A-1A Certificates referred to in the
within-mentioned Agreement.

                                          WELLS FARGO BANK, N.A., as
                                              Authenticating Agent

                                          By: __________________________________
                                              Authorized Representative

<PAGE>

                                   ASSIGNMENT

               FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and
transfer(s) unto ________________________________________________________
(please print or typewrite name and address including postal zip code of
assignee) the beneficial ownership interest in the Trust Fund evidenced by the
within Commercial Mortgage Pass-Through Certificate and hereby authorize(s) the
registration of transfer of such interest to assignee on the Certificate
Register of the Trust Fund.

               I (we) further direct the Certificate Registrar to issue a new
Commercial Mortgage Pass-Through Certificate of a like Percentage Interest and
Class to the above named assignee and deliver such Commercial Mortgage
Pass-Through Certificate to the following address:
_________________________________________________________________________.

Dated: _________________________

                                          ______________________________________
                                           Signature by or on behalf of Assignor

                                          ______________________________________
                                                  Signature Guaranteed

<PAGE>

                            DISTRIBUTION INSTRUCTIONS

               The Assignee should include the following for purposes of
distribution:

               Distributions shall, if permitted, be made by wire transfer or
otherwise, in immediately available funds, to _____________________________ for
the account of _______________.

               Distributions made by check (such check to be made payable to
_____________________) and all applicable statements and notices should be
mailed to _____________________________.

               This information is provided by ________________________________,
the Assignee named above, or ____________________________________, as its agent.

<PAGE>

                                  EXHIBIT A-7-1

                          FORM OF CLASS IO CERTIFICATE

             CLASS IO COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATE,
                                 SERIES 2006-C29

evidencing a beneficial ownership interest in a trust fund (the "Trust Fund")
consisting primarily of a pool of multifamily and commercial mortgage loans (the
"Mortgage Loans"), such pool being formed and sold by

                     WACHOVIA BANK COMMERCIAL MORTGAGE TRUST

Pass-Through Rate: Variable                  Aggregate Certificate Notional
                                             Amount of the Class IO Certificates
                                             as of the Closing Date:
                                             $3,371,274,173

Date of Pooling and Servicing Agreement:     Certificate Notional Amount of this
as of December 1, 2006                       Class IO Certificate as of the
                                             Closing Date: $500,000,000

Closing Date: December 21, 2006              Aggregate Stated Principal Balance
                                             of the Mortgage Loans as of the
                                             Cut-Off Date: $3,371,274,173

First Distribution Date: January 18, 2007

Master Servicer: Wachovia Bank, National     Trustee: Wells Fargo Bank, N.A.
Association

Special Servicer: LNR Partners, Inc.

Certificate No. IO-1                         CUSIP No. [_]

THIS CERTIFICATE DOES NOT HAVE A CERTIFICATE PRINCIPAL BALANCE AND WILL NOT
ENTITLE THE HOLDER HEREOF TO DISTRIBUTIONS OF PRINCIPAL, BUT IS ENTITLED TO
RECEIVE DISTRIBUTIONS OF INTEREST ONLY ON A NOTIONAL AMOUNT AS SET FORTH IN THE
AGREEMENT.

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST CORPORATION, A NEW YORK CORPORATION ("DTC"), TO THE DEPOSITOR,
THE MASTER SERVICER, THE TRUSTEE, THE CERTIFICATE REGISTRAR OR ANY AGENT THEREOF
FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED
IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO
SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY
TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON
IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
HEREIN.

THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN WACHOVIA
COMMERCIAL MORTGAGE SECURITIES, INC., WELLS FARGO BANK, N.A., LNR PARTNERS,
INC., WACHOVIA BANK, NATIONAL ASSOCIATION OR ANY OF THEIR RESPECTIVE AFFILIATES.
NEITHER THIS CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS ARE GUARANTEED BY ANY
AGENCY OR INSTRUMENTALITY OF THE UNITED STATES OR ANY OTHER PERSON.

SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE REPRESENTS A
"REGULAR INTEREST" IN A "REAL ESTATE MORTGAGE INVESTMENT CONDUIT" (A "REMIC") AS
THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL
REVENUE CODE OF 1986 (THE "CODE").

BECAUSE THE COMPONENTS COMPRISING THE NOTIONAL AMOUNT OF THE CLASS IO
CERTIFICATES WILL BE REDUCED BY ANY DISTRIBUTIONS IN REDUCTION OF THE
CERTIFICATE PRINCIPAL BALANCE OF THE CERTIFICATES RELATING TO SUCH COMPONENTS
AND BY CERTAIN LOSSES AND EXPENSES EXPERIENCED BY THE TRUST FUND WHICH ARE
ALLOCATED TO SUCH CERTIFICATES RELATING TO SUCH COMPONENTS AS SET FORTH IN THE
AGREEMENT, THE OUTSTANDING NOTIONAL AMOUNT HEREOF AT ANY TIME MAY BE LESS THAN
THE AMOUNT SHOWN ABOVE.

               This certifies that Cede & Co. is the registered owner of the
Percentage Interest evidenced by this Class IO Certificate in that certain
beneficial ownership interest evidenced by the Class IO Certificates in the
Trust Fund created pursuant to a Pooling and Servicing Agreement, dated as
specified above (the "Agreement"), among Wachovia Commercial Mortgage
Securities, Inc. (herein called the "Depositor", which term includes any
successor entity under the Agreement), Wachovia Bank, National Association
(herein called the "Master Servicer", which term includes any successor entity
under the Agreement), LNR Partners, Inc. (herein called the "Special Servicer",
which term includes any successor entity under the Agreement) and Wells Fargo
Bank, N.A. (herein called the "Trustee", which term includes any successor
entity under the Agreement), a summary of certain of the pertinent provisions of
which is set forth hereafter. To the extent not defined herein, the capitalized
terms used herein have the respective meanings assigned in the Agreement. This
Certificate is issued under and is subject to the terms, provisions and
conditions of the Agreement, to which Agreement the Holder of this Certificate
by virtue of the acceptance hereof assents and by which such Holder is bound.

               Pursuant to the terms of the Agreement, distributions will be
made on the fourth Business Day following the related Determination Date (each,
a "Distribution Date"). The Determination Date is the 11th day of each month or,
if such 11th day is not a Business Day, the Business Day immediately succeeding,
commencing in January 2007 (each, a "Determination Date"). Distributions will be
made commencing on the first Distribution Date specified above, to the Person in
whose name this Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such distribution
(the "Record Date"), in an amount equal to the product of the Percentage
Interest evidenced by this Certificate and the amount required to be distributed
to the Holders of the Class IO Certificates on the applicable Distribution Date
pursuant to the Agreement. The Pass-Through Rate applicable to the Class IO
Certificates for each Distribution Date is as provided in the Agreement. All
distributions made under the Agreement on the Class IO Certificates will be made
by Wells Fargo Bank, N.A., as paying agent (the "Paying Agent"), by wire
transfer of immediately available funds to the account of the Person entitled
thereto at a bank or other entity having appropriate facilities therefor, if
such Certificateholder shall have provided the Paying Agent with wiring
instructions no less than five Business Days prior to the related Record Date
(which wiring instructions may be in the form of a standing order applicable to
all subsequent distributions), or otherwise by check mailed to the address of
such Certificateholder as it appears in the Certificate Register.
Notwithstanding the foregoing, the final distribution on this Certificate will
be made in like manner, but only upon presentation and surrender of this
Certificate at the offices of the Certificate Registrar or such other location
specified in the notice to the Holder hereof of such final distribution.

               The Certificates are limited in right of distribution to certain
collections and recoveries respecting the Mortgage Loans and REO Loans, all as
more specifically set forth herein and in the Agreement. As provided in the
Agreement, withdrawals from the Certificate Account, the Distribution Account
and, if established, the REO Account may be made from time to time for purposes
other than, and, in certain cases, prior to, distributions to
Certificateholders, such purposes including the reimbursement of Advances made,
or certain expenses incurred, with respect to the Mortgage Loans and the payment
of interest on such Advances and expenses.

               Interest accrued on this Certificate during an Interest Accrual
Period, plus any unpaid interest shortfall with respect to this Certificate for
any prior Distribution Date, if any, will be payable on the related Distribution
Date to the extent provided in the Agreement. The "Interest Accrual Period" with
respect to any Distribution Date and with respect to the Class IO Certificates
is the calendar month preceding the month in which such Distribution Date occurs
and is assumed to consist of 30 days.

               The Class IO Certificates are issuable in fully registered form
only without coupons in minimum denominations specified in the Agreement. As
provided in the Agreement and subject to certain limitations therein set forth,
the Class IO Certificates are exchangeable for new Class IO Certificates in
authorized denominations evidencing the same aggregate Percentage Interest, as
requested by the Holder surrendering the same.

               As provided in the Agreement and subject to certain limitations
therein set forth, the transfer of this Certificate is registrable in the
Certificate Register upon surrender of this Certificate for registration of
transfer at the offices of the Certificate Registrar, duly endorsed by, or
accompanied by a written instrument of transfer in the form satisfactory to the
Certificate Registrar duly executed by, the Holder hereof or his attorney duly
authorized in writing, and thereupon one or more new Class IO Certificates in
authorized denominations evidencing the same aggregate Percentage Interest will
be issued to the designated transferee or transferees.

               No service charge will be imposed for any registration of
transfer or exchange of Class IO Certificates, but the Certificate Registrar may
require payment of a sum sufficient to cover any tax or other governmental
charge that may be imposed in connection with any transfer or exchange of Class
IO Certificates.

               Notwithstanding the foregoing, for so long as this Certificate is
registered in the name of Cede & Co. or in such other name as is requested by an
authorized representative of DTC, transfers of interests in this Certificate
shall be made through the book-entry facilities of DTC.

               The Depositor, the Master Servicer, the Special Servicer, the
Trustee, the Paying Agent and the Certificate Registrar and any agent of the
Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying
Agent or the Certificate Registrar may treat the Person in whose name this
Certificate is registered as the owner hereof for all purposes whatsoever and
none of the Depositor, the Master Servicer, the Special Servicer, the Trustee,
the Paying Agent, the Certificate Registrar, or any such agent shall be affected
by notice to the contrary.

               The Trust Fund and the obligations created by the Agreement shall
terminate upon distribution (or provision for distribution) to the
Certificateholders of all amounts held by or on behalf of the Trustee and
required to be distributed to them pursuant to the Agreement following the
earlier to occur of (i) the final payment (or any advance with respect thereto)
or other liquidation of the last Mortgage Loan or REO Property remaining in the
Trust Fund, and (ii) the purchase by the Master Servicer, the Special Servicer
or the Majority Subordinate Certificateholder at a price determined as provided
in the Agreement of all Mortgage Loans and each REO Property remaining in the
Trust Fund. The Agreement permits, but does not require, the Master Servicer,
the Special Servicer or the Majority Subordinate Certificateholder to purchase
from the Trust Fund all Mortgage Loans and each REO Property remaining therein.
The exercise of such right will effect early retirement of the Class IO
Certificates; however, such right to purchase is subject to the aggregate Stated
Principal Balance of the Mortgage Pool at the time of purchase being less than
1% of the aggregate Stated Principal Balance of the Mortgage Loans as of the
Cut-Off Date specified on the face hereof.

               In addition, any exchange by any Certificateholder of all of the
then outstanding Certificates (other than the Class Z, Class R-I and Class R-II
Certificates) for all of the Mortgage Loans and each REO Property remaining in
the Trust Fund may be made: (i) if the then outstanding Certificates (other than
the Class Z, Class R-I and Class R-II Certificates) are held by a single
Certificateholder and (ii) the Class A-1, Class A-2, Class A-3, Class A-PB,
Class A-4, Class A-1A, Class A-M, Class A-J, Class B, Class C, Class D and Class
E Certificates have been paid in full.

               The Agreement permits, with certain exceptions therein provided,
the amendment thereof and the modification of the rights and obligations of the
Depositor, the Master Servicer, the Special Servicer and the Trustee and the
rights of the Certificateholders under the Agreement at any time by the
Depositor, the Master Servicer, the Special Servicer and the Trustee with the
consent of the Holders of Certificates entitled to at least 51% of the Voting
Rights allocated to the affected Classes. Any such consent by the Holder of this
Certificate shall be conclusive and binding on such Holder and upon all future
Holders of this Certificate and of any Certificate issued upon the transfer
hereof or in exchange herefor or in lieu hereof whether or not notation of such
consent is made upon this Certificate. The Agreement also permits the amendment
thereof, in certain limited circumstances, including any amendment necessary to
maintain the status of the Trust Fund (or designated portions thereof) as
consisting of two separate REMICs and one grantor trust, without the consent of
the Holders of any of the Certificates.

               Unless the certificate of authentication hereon has been executed
by the Certificate Registrar, by manual signature, this Certificate shall not be
entitled to any benefit under the Agreement or be valid for any purpose.

               The registered Holder hereof, by its acceptance hereof, agrees
that it will look solely to the Trust Fund (to the extent of its rights therein)
for distributions hereunder.

               This Certificate shall be construed in accordance with the
internal laws of the State of New York applicable to agreements made and to be
performed in said State, and the obligations, rights and remedies of the Holder
hereof shall be determined in accordance with such laws.

<PAGE>

               IN WITNESS WHEREOF, the Certificate Registrar has caused this
Certificate to be duly executed.

Dated: December 21, 2006

                                          WELLS FARGO BANK, N.A., as Certificate
                                              Registrar

                                          By: __________________________________
                                              Authorized Representative

                          CERTIFICATE OF AUTHENTICATION

               This is one of the Class IO Certificates referred to in the
within-mentioned Agreement.

                                          WELLS FARGO BANK, N.A., as
                                              Authenticating Agent

                                          By: __________________________________
                                              Authorized Representative

<PAGE>

                                   ASSIGNMENT

               FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and
transfer(s) unto ________________________________________________________
(please print or typewrite name and address including postal zip code of
assignee) the beneficial ownership interest in the Trust Fund evidenced by the
within Commercial Mortgage Pass-Through Certificate and hereby authorize(s) the
registration of transfer of such interest to assignee on the Certificate
Register of the Trust Fund.

               I (we) further direct the Certificate Registrar to issue a new
Commercial Mortgage Pass-Through Certificate of a like Percentage Interest and
Class to the above named assignee and deliver such Commercial Mortgage
Pass-Through Certificate to the following address:
_________________________________________________________________________.

Dated: _________________________

                                          ______________________________________
                                           Signature by or on behalf of Assignor

                                          ______________________________________
                                                  Signature Guaranteed

<PAGE>

                            DISTRIBUTION INSTRUCTIONS

               The Assignee should include the following for purposes of
distribution:

               Distributions shall, if permitted, be made by wire transfer or
otherwise, in immediately available funds, to _____________________________ for
the account of _______________.

               Distributions made by check (such check to be made payable to
_____________________) and all applicable statements and notices should be
mailed to _____________________________.

               This information is provided by ________________________________,
the Assignee named above, or ____________________________________, as its agent.

<PAGE>

                                  EXHIBIT A-7-2

                          FORM OF CLASS IO CERTIFICATE

             CLASS IO COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATE,
                                 SERIES 2006-C29

evidencing a beneficial ownership interest in a trust fund (the "Trust Fund")
consisting primarily of a pool of multifamily and commercial mortgage loans (the
"Mortgage Loans"), such pool being formed and sold by

                     WACHOVIA BANK COMMERCIAL MORTGAGE TRUST

Pass-Through Rate: Variable                  Aggregate Certificate Notional
                                             Amount of the Class IO Certificates
                                             as of the Closing Date:
                                             $3,371,274,173

Date of Pooling and Servicing Agreement:     Certificate Notional Amount of this
as of December 1, 2006                       Class IO Certificate as of the
                                             Closing Date: $500,000,000

Closing Date: December 21, 2006              Aggregate Stated Principal Balance
                                             of the Mortgage Loans as of the
                                             Cut-Off Date: $3,371,274,173

First Distribution Date: January 18, 2007

Master Servicer: Wachovia Bank, National     Trustee: Wells Fargo Bank, N.A.
Association

Special Servicer: LNR Partners, Inc.

Certificate No. IO-2                         CUSIP No. [_]

THIS CERTIFICATE DOES NOT HAVE A CERTIFICATE PRINCIPAL BALANCE AND WILL NOT
ENTITLE THE HOLDER HEREOF TO DISTRIBUTIONS OF PRINCIPAL, BUT IS ENTITLED TO
RECEIVE DISTRIBUTIONS OF INTEREST ONLY ON A NOTIONAL AMOUNT AS SET FORTH IN THE
AGREEMENT.

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST CORPORATION, A NEW YORK CORPORATION ("DTC"), TO THE DEPOSITOR,
THE MASTER SERVICER, THE TRUSTEE, THE CERTIFICATE REGISTRAR OR ANY AGENT THEREOF
FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED
IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO
SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY
TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON
IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
HEREIN.

THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN WACHOVIA
COMMERCIAL MORTGAGE SECURITIES, INC., WELLS FARGO BANK, N.A., LNR PARTNERS,
INC., WACHOVIA BANK, NATIONAL ASSOCIATION OR ANY OF THEIR RESPECTIVE AFFILIATES.
NEITHER THIS CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS ARE GUARANTEED BY ANY
AGENCY OR INSTRUMENTALITY OF THE UNITED STATES OR ANY OTHER PERSON.

SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE REPRESENTS A
"REGULAR INTEREST" IN A "REAL ESTATE MORTGAGE INVESTMENT CONDUIT" (A "REMIC") AS
THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL
REVENUE CODE OF 1986 (THE "CODE").

BECAUSE THE COMPONENTS COMPRISING THE NOTIONAL AMOUNT OF THE CLASS IO
CERTIFICATES WILL BE REDUCED BY ANY DISTRIBUTIONS IN REDUCTION OF THE
CERTIFICATE PRINCIPAL BALANCE OF THE CERTIFICATES RELATING TO SUCH COMPONENTS
AND BY CERTAIN LOSSES AND EXPENSES EXPERIENCED BY THE TRUST FUND WHICH ARE
ALLOCATED TO SUCH CERTIFICATES RELATING TO SUCH COMPONENTS AS SET FORTH IN THE
AGREEMENT, THE OUTSTANDING NOTIONAL AMOUNT HEREOF AT ANY TIME MAY BE LESS THAN
THE AMOUNT SHOWN ABOVE.

               This certifies that Cede & Co. is the registered owner of the
Percentage Interest evidenced by this Class IO Certificate in that certain
beneficial ownership interest evidenced by the Class IO Certificates in the
Trust Fund created pursuant to a Pooling and Servicing Agreement, dated as
specified above (the "Agreement"), among Wachovia Commercial Mortgage
Securities, Inc. (herein called the "Depositor", which term includes any
successor entity under the Agreement), Wachovia Bank, National Association
(herein called the "Master Servicer", which term includes any successor entity
under the Agreement), LNR Partners, Inc. (herein called the "Special Servicer",
which term includes any successor entity under the Agreement) and Wells Fargo
Bank, N.A. (herein called the "Trustee", which term includes any successor
entity under the Agreement), a summary of certain of the pertinent provisions of
which is set forth hereafter. To the extent not defined herein, the capitalized
terms used herein have the respective meanings assigned in the Agreement. This
Certificate is issued under and is subject to the terms, provisions and
conditions of the Agreement, to which Agreement the Holder of this Certificate
by virtue of the acceptance hereof assents and by which such Holder is bound.

               Pursuant to the terms of the Agreement, distributions will be
made on the fourth Business Day following the related Determination Date (each,
a "Distribution Date"). The Determination Date is the 11th day of each month or,
if such 11th day is not a Business Day, the Business Day immediately succeeding,
commencing in January 2007 (each, a "Determination Date"). Distributions will be
made commencing on the first Distribution Date specified above, to the Person in
whose name this Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such distribution
(the "Record Date"), in an amount equal to the product of the Percentage
Interest evidenced by this Certificate and the amount required to be distributed
to the Holders of the Class IO Certificates on the applicable Distribution Date
pursuant to the Agreement. The Pass-Through Rate applicable to the Class IO
Certificates for each Distribution Date is as provided in the Agreement. All
distributions made under the Agreement on the Class IO Certificates will be made
by Wells Fargo Bank, N.A., as paying agent (the "Paying Agent"), by wire
transfer of immediately available funds to the account of the Person entitled
thereto at a bank or other entity having appropriate facilities therefor, if
such Certificateholder shall have provided the Paying Agent with wiring
instructions no less than five Business Days prior to the related Record Date
(which wiring instructions may be in the form of a standing order applicable to
all subsequent distributions), or otherwise by check mailed to the address of
such Certificateholder as it appears in the Certificate Register.
Notwithstanding the foregoing, the final distribution on this Certificate will
be made in like manner, but only upon presentation and surrender of this
Certificate at the offices of the Certificate Registrar or such other location
specified in the notice to the Holder hereof of such final distribution.

               The Certificates are limited in right of distribution to certain
collections and recoveries respecting the Mortgage Loans and REO Loans, all as
more specifically set forth herein and in the Agreement. As provided in the
Agreement, withdrawals from the Certificate Account, the Distribution Account
and, if established, the REO Account may be made from time to time for purposes
other than, and, in certain cases, prior to, distributions to
Certificateholders, such purposes including the reimbursement of Advances made,
or certain expenses incurred, with respect to the Mortgage Loans and the payment
of interest on such Advances and expenses.

               Interest accrued on this Certificate during an Interest Accrual
Period, plus any unpaid interest shortfall with respect to this Certificate for
any prior Distribution Date, if any, will be payable on the related Distribution
Date to the extent provided in the Agreement. The "Interest Accrual Period" with
respect to any Distribution Date and with respect to the Class IO Certificates
is the calendar month preceding the month in which such Distribution Date occurs
and is assumed to consist of 30 days.

               The Class IO Certificates are issuable in fully registered form
only without coupons in minimum denominations specified in the Agreement. As
provided in the Agreement and subject to certain limitations therein set forth,
the Class IO Certificates are exchangeable for new Class IO Certificates in
authorized denominations evidencing the same aggregate Percentage Interest, as
requested by the Holder surrendering the same.

               As provided in the Agreement and subject to certain limitations
therein set forth, the transfer of this Certificate is registrable in the
Certificate Register upon surrender of this Certificate for registration of
transfer at the offices of the Certificate Registrar, duly endorsed by, or
accompanied by a written instrument of transfer in the form satisfactory to the
Certificate Registrar duly executed by, the Holder hereof or his attorney duly
authorized in writing, and thereupon one or more new Class IO Certificates in
authorized denominations evidencing the same aggregate Percentage Interest will
be issued to the designated transferee or transferees.

               No service charge will be imposed for any registration of
transfer or exchange of Class IO Certificates, but the Certificate Registrar may
require payment of a sum sufficient to cover any tax or other governmental
charge that may be imposed in connection with any transfer or exchange of Class
IO Certificates.

               Notwithstanding the foregoing, for so long as this Certificate is
registered in the name of Cede & Co. or in such other name as is requested by an
authorized representative of DTC, transfers of interests in this Certificate
shall be made through the book-entry facilities of DTC.

               The Depositor, the Master Servicer, the Special Servicer, the
Trustee, the Paying Agent and the Certificate Registrar and any agent of the
Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying
Agent or the Certificate Registrar may treat the Person in whose name this
Certificate is registered as the owner hereof for all purposes whatsoever and
none of the Depositor, the Master Servicer, the Special Servicer, the Trustee,
the Paying Agent, the Certificate Registrar, or any such agent shall be affected
by notice to the contrary.

               The Trust Fund and the obligations created by the Agreement shall
terminate upon distribution (or provision for distribution) to the
Certificateholders of all amounts held by or on behalf of the Trustee and
required to be distributed to them pursuant to the Agreement following the
earlier to occur of (i) the final payment (or any advance with respect thereto)
or other liquidation of the last Mortgage Loan or REO Property remaining in the
Trust Fund, and (ii) the purchase by the Master Servicer, the Special Servicer
or the Majority Subordinate Certificateholder at a price determined as provided
in the Agreement of all Mortgage Loans and each REO Property remaining in the
Trust Fund. The Agreement permits, but does not require, the Master Servicer,
the Special Servicer or the Majority Subordinate Certificateholder to purchase
from the Trust Fund all Mortgage Loans and each REO Property remaining therein.
The exercise of such right will effect early retirement of the Class IO
Certificates; however, such right to purchase is subject to the aggregate Stated
Principal Balance of the Mortgage Pool at the time of purchase being less than
1% of the aggregate Stated Principal Balance of the Mortgage Loans as of the
Cut-Off Date specified on the face hereof.

               In addition, any exchange by any Certificateholder of all of the
then outstanding Certificates (other than the Class Z, Class R-I and Class R-II
Certificates) for all of the Mortgage Loans and each REO Property remaining in
the Trust Fund may be made: (i) if the then outstanding Certificates (other than
the Class Z, Class R-I and Class R-II Certificates) are held by a single
Certificateholder and (ii) the Class A-1, Class A-2, Class A-3, Class A-PB,
Class A-4, Class A-1A, Class A-M, Class A-J, Class B, Class C, Class D and Class
E Certificates have been paid in full.

               The Agreement permits, with certain exceptions therein provided,
the amendment thereof and the modification of the rights and obligations of the
Depositor, the Master Servicer, the Special Servicer and the Trustee and the
rights of the Certificateholders under the Agreement at any time by the
Depositor, the Master Servicer, the Special Servicer and the Trustee with the
consent of the Holders of Certificates entitled to at least 51% of the Voting
Rights allocated to the affected Classes. Any such consent by the Holder of this
Certificate shall be conclusive and binding on such Holder and upon all future
Holders of this Certificate and of any Certificate issued upon the transfer
hereof or in exchange herefor or in lieu hereof whether or not notation of such
consent is made upon this Certificate. The Agreement also permits the amendment
thereof, in certain limited circumstances, including any amendment necessary to
maintain the status of the Trust Fund (or designated portions thereof) as
consisting of two separate REMICs and one grantor trust, without the consent of
the Holders of any of the Certificates.

               Unless the certificate of authentication hereon has been executed
by the Certificate Registrar, by manual signature, this Certificate shall not be
entitled to any benefit under the Agreement or be valid for any purpose.

               The registered Holder hereof, by its acceptance hereof, agrees
that it will look solely to the Trust Fund (to the extent of its rights therein)
for distributions hereunder.

               This Certificate shall be construed in accordance with the
internal laws of the State of New York applicable to agreements made and to be
performed in said State, and the obligations, rights and remedies of the Holder
hereof shall be determined in accordance with such laws.

<PAGE>

               IN WITNESS WHEREOF, the Certificate Registrar has caused this
Certificate to be duly executed.

Dated: December 21, 2006

                                          WELLS FARGO BANK, N.A., as Certificate
                                              Registrar

                                          By: __________________________________
                                              Authorized Representative

                          CERTIFICATE OF AUTHENTICATION

               This is one of the Class IO Certificates referred to in the
within-mentioned Agreement.

                                          WELLS FARGO BANK, N.A., as
                                              Authenticating Agent

                                          By: __________________________________
                                              Authorized Representative

<PAGE>

                                   ASSIGNMENT

               FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and
transfer(s) unto ________________________________________________________
(please print or typewrite name and address including postal zip code of
assignee) the beneficial ownership interest in the Trust Fund evidenced by the
within Commercial Mortgage Pass-Through Certificate and hereby authorize(s) the
registration of transfer of such interest to assignee on the Certificate
Register of the Trust Fund.

               I (we) further direct the Certificate Registrar to issue a new
Commercial Mortgage Pass-Through Certificate of a like Percentage Interest and
Class to the above named assignee and deliver such Commercial Mortgage
Pass-Through Certificate to the following address:
_________________________________________________________________________.

Dated: _________________________

                                          ______________________________________
                                           Signature by or on behalf of Assignor

                                          ______________________________________
                                                  Signature Guaranteed

<PAGE>

                            DISTRIBUTION INSTRUCTIONS

               The Assignee should include the following for purposes of
distribution:

               Distributions shall, if permitted, be made by wire transfer or
otherwise, in immediately available funds, to _____________________________ for
the account of _______________.

               Distributions made by check (such check to be made payable to
_____________________) and all applicable statements and notices should be
mailed to _____________________________.

               This information is provided by ________________________________,
the Assignee named above, or ____________________________________, as its agent.

<PAGE>

                                  EXHIBIT A-7-3

                          FORM OF CLASS IO CERTIFICATE

             CLASS IO COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATE,
                                 SERIES 2006-C29

evidencing a beneficial ownership interest in a trust fund (the "Trust Fund")
consisting primarily of a pool of multifamily and commercial mortgage loans (the
"Mortgage Loans"), such pool being formed and sold by

                     WACHOVIA BANK COMMERCIAL MORTGAGE TRUST

Pass-Through Rate: Variable                  Aggregate Certificate Notional
                                             Amount of the Class IO Certificates
                                             as of the Closing Date:
                                             $3,371,274,173

Date of Pooling and Servicing Agreement:     Certificate Notional Amount of this
as of December 1, 2006                       Class IO Certificate as of the
                                             Closing Date: $500,000,000

Closing Date: December 21, 2006              Aggregate Stated Principal Balance
                                             of the Mortgage Loans as of the
                                             Cut-Off Date: $3,371,274,173

First Distribution Date: January 18, 2007

Master Servicer: Wachovia Bank, National     Trustee: Wells Fargo Bank, N.A.
Association

Special Servicer: LNR Partners, Inc.

Certificate No. IO-3                         CUSIP No. [_]

THIS CERTIFICATE DOES NOT HAVE A CERTIFICATE PRINCIPAL BALANCE AND WILL NOT
ENTITLE THE HOLDER HEREOF TO DISTRIBUTIONS OF PRINCIPAL, BUT IS ENTITLED TO
RECEIVE DISTRIBUTIONS OF INTEREST ONLY ON A NOTIONAL AMOUNT AS SET FORTH IN THE
AGREEMENT.

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST CORPORATION, A NEW YORK CORPORATION ("DTC"), TO THE DEPOSITOR,
THE MASTER SERVICER, THE TRUSTEE, THE CERTIFICATE REGISTRAR OR ANY AGENT THEREOF
FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED
IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO
SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY
TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON
IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
HEREIN.

THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN WACHOVIA
COMMERCIAL MORTGAGE SECURITIES, INC., WELLS FARGO BANK, N.A., LNR PARTNERS,
INC., WACHOVIA BANK, NATIONAL ASSOCIATION OR ANY OF THEIR RESPECTIVE AFFILIATES.
NEITHER THIS CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS ARE GUARANTEED BY ANY
AGENCY OR INSTRUMENTALITY OF THE UNITED STATES OR ANY OTHER PERSON.

SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE REPRESENTS A
"REGULAR INTEREST" IN A "REAL ESTATE MORTGAGE INVESTMENT CONDUIT" (A "REMIC") AS
THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL
REVENUE CODE OF 1986 (THE "CODE").

BECAUSE THE COMPONENTS COMPRISING THE NOTIONAL AMOUNT OF THE CLASS IO
CERTIFICATES WILL BE REDUCED BY ANY DISTRIBUTIONS IN REDUCTION OF THE
CERTIFICATE PRINCIPAL BALANCE OF THE CERTIFICATES RELATING TO SUCH COMPONENTS
AND BY CERTAIN LOSSES AND EXPENSES EXPERIENCED BY THE TRUST FUND WHICH ARE
ALLOCATED TO SUCH CERTIFICATES RELATING TO SUCH COMPONENTS AS SET FORTH IN THE
AGREEMENT, THE OUTSTANDING NOTIONAL AMOUNT HEREOF AT ANY TIME MAY BE LESS THAN
THE AMOUNT SHOWN ABOVE.

               This certifies that Cede & Co. is the registered owner of the
Percentage Interest evidenced by this Class IO Certificate in that certain
beneficial ownership interest evidenced by the Class IO Certificates in the
Trust Fund created pursuant to a Pooling and Servicing Agreement, dated as
specified above (the "Agreement"), among Wachovia Commercial Mortgage
Securities, Inc. (herein called the "Depositor", which term includes any
successor entity under the Agreement), Wachovia Bank, National Association
(herein called the "Master Servicer", which term includes any successor entity
under the Agreement), LNR Partners, Inc. (herein called the "Special Servicer",
which term includes any successor entity under the Agreement) and Wells Fargo
Bank, N.A. (herein called the "Trustee", which term includes any successor
entity under the Agreement), a summary of certain of the pertinent provisions of
which is set forth hereafter. To the extent not defined herein, the capitalized
terms used herein have the respective meanings assigned in the Agreement. This
Certificate is issued under and is subject to the terms, provisions and
conditions of the Agreement, to which Agreement the Holder of this Certificate
by virtue of the acceptance hereof assents and by which such Holder is bound.

               Pursuant to the terms of the Agreement, distributions will be
made on the fourth Business Day following the related Determination Date (each,
a "Distribution Date"). The Determination Date is the 11th day of each month or,
if such 11th day is not a Business Day, the Business Day immediately succeeding,
commencing in January 2007 (each, a "Determination Date"). Distributions will be
made commencing on the first Distribution Date specified above, to the Person in
whose name this Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such distribution
(the "Record Date"), in an amount equal to the product of the Percentage
Interest evidenced by this Certificate and the amount required to be distributed
to the Holders of the Class IO Certificates on the applicable Distribution Date
pursuant to the Agreement. The Pass-Through Rate applicable to the Class IO
Certificates for each Distribution Date is as provided in the Agreement. All
distributions made under the Agreement on the Class IO Certificates will be made
by Wells Fargo Bank, N.A., as paying agent (the "Paying Agent"), by wire
transfer of immediately available funds to the account of the Person entitled
thereto at a bank or other entity having appropriate facilities therefor, if
such Certificateholder shall have provided the Paying Agent with wiring
instructions no less than five Business Days prior to the related Record Date
(which wiring instructions may be in the form of a standing order applicable to
all subsequent distributions), or otherwise by check mailed to the address of
such Certificateholder as it appears in the Certificate Register.
Notwithstanding the foregoing, the final distribution on this Certificate will
be made in like manner, but only upon presentation and surrender of this
Certificate at the offices of the Certificate Registrar or such other location
specified in the notice to the Holder hereof of such final distribution.

               The Certificates are limited in right of distribution to certain
collections and recoveries respecting the Mortgage Loans and REO Loans, all as
more specifically set forth herein and in the Agreement. As provided in the
Agreement, withdrawals from the Certificate Account, the Distribution Account
and, if established, the REO Account may be made from time to time for purposes
other than, and, in certain cases, prior to, distributions to
Certificateholders, such purposes including the reimbursement of Advances made,
or certain expenses incurred, with respect to the Mortgage Loans and the payment
of interest on such Advances and expenses.

               Interest accrued on this Certificate during an Interest Accrual
Period, plus any unpaid interest shortfall with respect to this Certificate for
any prior Distribution Date, if any, will be payable on the related Distribution
Date to the extent provided in the Agreement. The "Interest Accrual Period" with
respect to any Distribution Date and with respect to the Class IO Certificates
is the calendar month preceding the month in which such Distribution Date occurs
and is assumed to consist of 30 days.

               The Class IO Certificates are issuable in fully registered form
only without coupons in minimum denominations specified in the Agreement. As
provided in the Agreement and subject to certain limitations therein set forth,
the Class IO Certificates are exchangeable for new Class IO Certificates in
authorized denominations evidencing the same aggregate Percentage Interest, as
requested by the Holder surrendering the same.

               As provided in the Agreement and subject to certain limitations
therein set forth, the transfer of this Certificate is registrable in the
Certificate Register upon surrender of this Certificate for registration of
transfer at the offices of the Certificate Registrar, duly endorsed by, or
accompanied by a written instrument of transfer in the form satisfactory to the
Certificate Registrar duly executed by, the Holder hereof or his attorney duly
authorized in writing, and thereupon one or more new Class IO Certificates in
authorized denominations evidencing the same aggregate Percentage Interest will
be issued to the designated transferee or transferees.

               No service charge will be imposed for any registration of
transfer or exchange of Class IO Certificates, but the Certificate Registrar may
require payment of a sum sufficient to cover any tax or other governmental
charge that may be imposed in connection with any transfer or exchange of Class
IO Certificates.

               Notwithstanding the foregoing, for so long as this Certificate is
registered in the name of Cede & Co. or in such other name as is requested by an
authorized representative of DTC, transfers of interests in this Certificate
shall be made through the book-entry facilities of DTC.

               The Depositor, the Master Servicer, the Special Servicer, the
Trustee, the Paying Agent and the Certificate Registrar and any agent of the
Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying
Agent or the Certificate Registrar may treat the Person in whose name this
Certificate is registered as the owner hereof for all purposes whatsoever and
none of the Depositor, the Master Servicer, the Special Servicer, the Trustee,
the Paying Agent, the Certificate Registrar, or any such agent shall be affected
by notice to the contrary.

               The Trust Fund and the obligations created by the Agreement shall
terminate upon distribution (or provision for distribution) to the
Certificateholders of all amounts held by or on behalf of the Trustee and
required to be distributed to them pursuant to the Agreement following the
earlier to occur of (i) the final payment (or any advance with respect thereto)
or other liquidation of the last Mortgage Loan or REO Property remaining in the
Trust Fund, and (ii) the purchase by the Master Servicer, the Special Servicer
or the Majority Subordinate Certificateholder at a price determined as provided
in the Agreement of all Mortgage Loans and each REO Property remaining in the
Trust Fund. The Agreement permits, but does not require, the Master Servicer,
the Special Servicer or the Majority Subordinate Certificateholder to purchase
from the Trust Fund all Mortgage Loans and each REO Property remaining therein.
The exercise of such right will effect early retirement of the Class IO
Certificates; however, such right to purchase is subject to the aggregate Stated
Principal Balance of the Mortgage Pool at the time of purchase being less than
1% of the aggregate Stated Principal Balance of the Mortgage Loans as of the
Cut-Off Date specified on the face hereof.

               In addition, any exchange by any Certificateholder of all of the
then outstanding Certificates (other than the Class Z, Class R-I and Class R-II
Certificates) for all of the Mortgage Loans and each REO Property remaining in
the Trust Fund may be made: (i) if the then outstanding Certificates (other than
the Class Z, Class R-I and Class R-II Certificates) are held by a single
Certificateholder and (ii) the Class A-1, Class A-2, Class A-3, Class A-PB,
Class A-4, Class A-1A, Class A-M, Class A-J, Class B, Class C, Class D and Class
E Certificates have been paid in full.

               The Agreement permits, with certain exceptions therein provided,
the amendment thereof and the modification of the rights and obligations of the
Depositor, the Master Servicer, the Special Servicer and the Trustee and the
rights of the Certificateholders under the Agreement at any time by the
Depositor, the Master Servicer, the Special Servicer and the Trustee with the
consent of the Holders of Certificates entitled to at least 51% of the Voting
Rights allocated to the affected Classes. Any such consent by the Holder of this
Certificate shall be conclusive and binding on such Holder and upon all future
Holders of this Certificate and of any Certificate issued upon the transfer
hereof or in exchange herefor or in lieu hereof whether or not notation of such
consent is made upon this Certificate. The Agreement also permits the amendment
thereof, in certain limited circumstances, including any amendment necessary to
maintain the status of the Trust Fund (or designated portions thereof) as
consisting of two separate REMICs and one grantor trust, without the consent of
the Holders of any of the Certificates.

               Unless the certificate of authentication hereon has been executed
by the Certificate Registrar, by manual signature, this Certificate shall not be
entitled to any benefit under the Agreement or be valid for any purpose.

               The registered Holder hereof, by its acceptance hereof, agrees
that it will look solely to the Trust Fund (to the extent of its rights therein)
for distributions hereunder.

               This Certificate shall be construed in accordance with the
internal laws of the State of New York applicable to agreements made and to be
performed in said State, and the obligations, rights and remedies of the Holder
hereof shall be determined in accordance with such laws.

<PAGE>

               IN WITNESS WHEREOF, the Certificate Registrar has caused this
Certificate to be duly executed.

Dated: December 21, 2006

                                          WELLS FARGO BANK, N.A., as Certificate
                                              Registrar

                                          By: __________________________________
                                              Authorized Representative

                          CERTIFICATE OF AUTHENTICATION

               This is one of the Class IO Certificates referred to in the
within-mentioned Agreement.

                                          WELLS FARGO BANK, N.A., as
                                              Authenticating Agent

                                          By: __________________________________
                                              Authorized Representative

<PAGE>

                                   ASSIGNMENT

               FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and
transfer(s) unto ________________________________________________________
(please print or typewrite name and address including postal zip code of
assignee) the beneficial ownership interest in the Trust Fund evidenced by the
within Commercial Mortgage Pass-Through Certificate and hereby authorize(s) the
registration of transfer of such interest to assignee on the Certificate
Register of the Trust Fund.

               I (we) further direct the Certificate Registrar to issue a new
Commercial Mortgage Pass-Through Certificate of a like Percentage Interest and
Class to the above named assignee and deliver such Commercial Mortgage
Pass-Through Certificate to the following address:
_________________________________________________________________________.

Dated: _________________________

                                          ______________________________________
                                           Signature by or on behalf of Assignor

                                          ______________________________________
                                                  Signature Guaranteed

<PAGE>

                            DISTRIBUTION INSTRUCTIONS

               The Assignee should include the following for purposes of
distribution:

               Distributions shall, if permitted, be made by wire transfer or
otherwise, in immediately available funds, to _____________________________ for
the account of _______________.

               Distributions made by check (such check to be made payable to
_____________________) and all applicable statements and notices should be
mailed to _____________________________.

               This information is provided by ________________________________,
the Assignee named above, or ____________________________________, as its agent.

<PAGE>

                                  EXHIBIT A-7-4

                          FORM OF CLASS IO CERTIFICATE

             CLASS IO COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATE,
                                 SERIES 2006-C29

evidencing a beneficial ownership interest in a trust fund (the "Trust Fund")
consisting primarily of a pool of multifamily and commercial mortgage loans (the
"Mortgage Loans"), such pool being formed and sold by

                     WACHOVIA BANK COMMERCIAL MORTGAGE TRUST

Pass-Through Rate: Variable                  Aggregate Certificate Notional
                                             Amount of the Class IO Certificates
                                             as of the Closing Date:
                                             $3,371,274,173

Date of Pooling and Servicing Agreement:     Certificate Notional Amount of this
as of December 1, 2006                       Class IO Certificate as of the
                                             Closing Date: $500,000,000

Closing Date: December 21, 2006              Aggregate Stated Principal Balance
                                             of the Mortgage Loans as of the
                                             Cut-Off Date: $3,371,274,173

First Distribution Date: January 18, 2007

Master Servicer: Wachovia Bank, National     Trustee: Wells Fargo Bank, N.A.
Association

Special Servicer: LNR Partners, Inc.

Certificate No. IO-4                         CUSIP No. [_]

THIS CERTIFICATE DOES NOT HAVE A CERTIFICATE PRINCIPAL BALANCE AND WILL NOT
ENTITLE THE HOLDER HEREOF TO DISTRIBUTIONS OF PRINCIPAL, BUT IS ENTITLED TO
RECEIVE DISTRIBUTIONS OF INTEREST ONLY ON A NOTIONAL AMOUNT AS SET FORTH IN THE
AGREEMENT.

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST CORPORATION, A NEW YORK CORPORATION ("DTC"), TO THE DEPOSITOR,
THE MASTER SERVICER, THE TRUSTEE, THE CERTIFICATE REGISTRAR OR ANY AGENT THEREOF
FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED
IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO
SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY
TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON
IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
HEREIN.

THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN WACHOVIA
COMMERCIAL MORTGAGE SECURITIES, INC., WELLS FARGO BANK, N.A., LNR PARTNERS,
INC., WACHOVIA BANK, NATIONAL ASSOCIATION OR ANY OF THEIR RESPECTIVE AFFILIATES.
NEITHER THIS CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS ARE GUARANTEED BY ANY
AGENCY OR INSTRUMENTALITY OF THE UNITED STATES OR ANY OTHER PERSON.

SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE REPRESENTS A
"REGULAR INTEREST" IN A "REAL ESTATE MORTGAGE INVESTMENT CONDUIT" (A "REMIC") AS
THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL
REVENUE CODE OF 1986 (THE "CODE").

BECAUSE THE COMPONENTS COMPRISING THE NOTIONAL AMOUNT OF THE CLASS IO
CERTIFICATES WILL BE REDUCED BY ANY DISTRIBUTIONS IN REDUCTION OF THE
CERTIFICATE PRINCIPAL BALANCE OF THE CERTIFICATES RELATING TO SUCH COMPONENTS
AND BY CERTAIN LOSSES AND EXPENSES EXPERIENCED BY THE TRUST FUND WHICH ARE
ALLOCATED TO SUCH CERTIFICATES RELATING TO SUCH COMPONENTS AS SET FORTH IN THE
AGREEMENT, THE OUTSTANDING NOTIONAL AMOUNT HEREOF AT ANY TIME MAY BE LESS THAN
THE AMOUNT SHOWN ABOVE.

               This certifies that Cede & Co. is the registered owner of the
Percentage Interest evidenced by this Class IO Certificate in that certain
beneficial ownership interest evidenced by the Class IO Certificates in the
Trust Fund created pursuant to a Pooling and Servicing Agreement, dated as
specified above (the "Agreement"), among Wachovia Commercial Mortgage
Securities, Inc. (herein called the "Depositor", which term includes any
successor entity under the Agreement), Wachovia Bank, National Association
(herein called the "Master Servicer", which term includes any successor entity
under the Agreement), LNR Partners, Inc. (herein called the "Special Servicer",
which term includes any successor entity under the Agreement) and Wells Fargo
Bank, N.A. (herein called the "Trustee", which term includes any successor
entity under the Agreement), a summary of certain of the pertinent provisions of
which is set forth hereafter. To the extent not defined herein, the capitalized
terms used herein have the respective meanings assigned in the Agreement. This
Certificate is issued under and is subject to the terms, provisions and
conditions of the Agreement, to which Agreement the Holder of this Certificate
by virtue of the acceptance hereof assents and by which such Holder is bound.

               Pursuant to the terms of the Agreement, distributions will be
made on the fourth Business Day following the related Determination Date (each,
a "Distribution Date"). The Determination Date is the 11th day of each month or,
if such 11th day is not a Business Day, the Business Day immediately succeeding,
commencing in January 2007 (each, a "Determination Date"). Distributions will be
made commencing on the first Distribution Date specified above, to the Person in
whose name this Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such distribution
(the "Record Date"), in an amount equal to the product of the Percentage
Interest evidenced by this Certificate and the amount required to be distributed
to the Holders of the Class IO Certificates on the applicable Distribution Date
pursuant to the Agreement. The Pass-Through Rate applicable to the Class IO
Certificates for each Distribution Date is as provided in the Agreement. All
distributions made under the Agreement on the Class IO Certificates will be made
by Wells Fargo Bank, N.A., as paying agent (the "Paying Agent"), by wire
transfer of immediately available funds to the account of the Person entitled
thereto at a bank or other entity having appropriate facilities therefor, if
such Certificateholder shall have provided the Paying Agent with wiring
instructions no less than five Business Days prior to the related Record Date
(which wiring instructions may be in the form of a standing order applicable to
all subsequent distributions), or otherwise by check mailed to the address of
such Certificateholder as it appears in the Certificate Register.
Notwithstanding the foregoing, the final distribution on this Certificate will
be made in like manner, but only upon presentation and surrender of this
Certificate at the offices of the Certificate Registrar or such other location
specified in the notice to the Holder hereof of such final distribution.

               The Certificates are limited in right of distribution to certain
collections and recoveries respecting the Mortgage Loans and REO Loans, all as
more specifically set forth herein and in the Agreement. As provided in the
Agreement, withdrawals from the Certificate Account, the Distribution Account
and, if established, the REO Account may be made from time to time for purposes
other than, and, in certain cases, prior to, distributions to
Certificateholders, such purposes including the reimbursement of Advances made,
or certain expenses incurred, with respect to the Mortgage Loans and the payment
of interest on such Advances and expenses.

               Interest accrued on this Certificate during an Interest Accrual
Period, plus any unpaid interest shortfall with respect to this Certificate for
any prior Distribution Date, if any, will be payable on the related Distribution
Date to the extent provided in the Agreement. The "Interest Accrual Period" with
respect to any Distribution Date and with respect to the Class IO Certificates
is the calendar month preceding the month in which such Distribution Date occurs
and is assumed to consist of 30 days.

               The Class IO Certificates are issuable in fully registered form
only without coupons in minimum denominations specified in the Agreement. As
provided in the Agreement and subject to certain limitations therein set forth,
the Class IO Certificates are exchangeable for new Class IO Certificates in
authorized denominations evidencing the same aggregate Percentage Interest, as
requested by the Holder surrendering the same.

               As provided in the Agreement and subject to certain limitations
therein set forth, the transfer of this Certificate is registrable in the
Certificate Register upon surrender of this Certificate for registration of
transfer at the offices of the Certificate Registrar, duly endorsed by, or
accompanied by a written instrument of transfer in the form satisfactory to the
Certificate Registrar duly executed by, the Holder hereof or his attorney duly
authorized in writing, and thereupon one or more new Class IO Certificates in
authorized denominations evidencing the same aggregate Percentage Interest will
be issued to the designated transferee or transferees.

               No service charge will be imposed for any registration of
transfer or exchange of Class IO Certificates, but the Certificate Registrar may
require payment of a sum sufficient to cover any tax or other governmental
charge that may be imposed in connection with any transfer or exchange of Class
IO Certificates.

               Notwithstanding the foregoing, for so long as this Certificate is
registered in the name of Cede & Co. or in such other name as is requested by an
authorized representative of DTC, transfers of interests in this Certificate
shall be made through the book-entry facilities of DTC.

               The Depositor, the Master Servicer, the Special Servicer, the
Trustee, the Paying Agent and the Certificate Registrar and any agent of the
Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying
Agent or the Certificate Registrar may treat the Person in whose name this
Certificate is registered as the owner hereof for all purposes whatsoever and
none of the Depositor, the Master Servicer, the Special Servicer, the Trustee,
the Paying Agent, the Certificate Registrar, or any such agent shall be affected
by notice to the contrary.

               The Trust Fund and the obligations created by the Agreement shall
terminate upon distribution (or provision for distribution) to the
Certificateholders of all amounts held by or on behalf of the Trustee and
required to be distributed to them pursuant to the Agreement following the
earlier to occur of (i) the final payment (or any advance with respect thereto)
or other liquidation of the last Mortgage Loan or REO Property remaining in the
Trust Fund, and (ii) the purchase by the Master Servicer, the Special Servicer
or the Majority Subordinate Certificateholder at a price determined as provided
in the Agreement of all Mortgage Loans and each REO Property remaining in the
Trust Fund. The Agreement permits, but does not require, the Master Servicer,
the Special Servicer or the Majority Subordinate Certificateholder to purchase
from the Trust Fund all Mortgage Loans and each REO Property remaining therein.
The exercise of such right will effect early retirement of the Class IO
Certificates; however, such right to purchase is subject to the aggregate Stated
Principal Balance of the Mortgage Pool at the time of purchase being less than
1% of the aggregate Stated Principal Balance of the Mortgage Loans as of the
Cut-Off Date specified on the face hereof.

               In addition, any exchange by any Certificateholder of all of the
then outstanding Certificates (other than the Class Z, Class R-I and Class R-II
Certificates) for all of the Mortgage Loans and each REO Property remaining in
the Trust Fund may be made: (i) if the then outstanding Certificates (other than
the Class Z, Class R-I and Class R-II Certificates) are held by a single
Certificateholder and (ii) the Class A-1, Class A-2, Class A-3, Class A-PB,
Class A-4, Class A-1A, Class A-M, Class A-J, Class B, Class C, Class D and Class
E Certificates have been paid in full.

               The Agreement permits, with certain exceptions therein provided,
the amendment thereof and the modification of the rights and obligations of the
Depositor, the Master Servicer, the Special Servicer and the Trustee and the
rights of the Certificateholders under the Agreement at any time by the
Depositor, the Master Servicer, the Special Servicer and the Trustee with the
consent of the Holders of Certificates entitled to at least 51% of the Voting
Rights allocated to the affected Classes. Any such consent by the Holder of this
Certificate shall be conclusive and binding on such Holder and upon all future
Holders of this Certificate and of any Certificate issued upon the transfer
hereof or in exchange herefor or in lieu hereof whether or not notation of such
consent is made upon this Certificate. The Agreement also permits the amendment
thereof, in certain limited circumstances, including any amendment necessary to
maintain the status of the Trust Fund (or designated portions thereof) as
consisting of two separate REMICs and one grantor trust, without the consent of
the Holders of any of the Certificates.

               Unless the certificate of authentication hereon has been executed
by the Certificate Registrar, by manual signature, this Certificate shall not be
entitled to any benefit under the Agreement or be valid for any purpose.

               The registered Holder hereof, by its acceptance hereof, agrees
that it will look solely to the Trust Fund (to the extent of its rights therein)
for distributions hereunder.

               This Certificate shall be construed in accordance with the
internal laws of the State of New York applicable to agreements made and to be
performed in said State, and the obligations, rights and remedies of the Holder
hereof shall be determined in accordance with such laws.

<PAGE>

               IN WITNESS WHEREOF, the Certificate Registrar has caused this
Certificate to be duly executed.

Dated: December 21, 2006

                                          WELLS FARGO BANK, N.A., as Certificate
                                              Registrar

                                          By: __________________________________
                                              Authorized Representative

                          CERTIFICATE OF AUTHENTICATION

               This is one of the Class IO Certificates referred to in the
within-mentioned Agreement.

                                          WELLS FARGO BANK, N.A., as
                                              Authenticating Agent

                                          By: __________________________________
                                              Authorized Representative

<PAGE>

                                   ASSIGNMENT

               FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and
transfer(s) unto ________________________________________________________
(please print or typewrite name and address including postal zip code of
assignee) the beneficial ownership interest in the Trust Fund evidenced by the
within Commercial Mortgage Pass-Through Certificate and hereby authorize(s) the
registration of transfer of such interest to assignee on the Certificate
Register of the Trust Fund.

               I (we) further direct the Certificate Registrar to issue a new
Commercial Mortgage Pass-Through Certificate of a like Percentage Interest and
Class to the above named assignee and deliver such Commercial Mortgage
Pass-Through Certificate to the following address:
_________________________________________________________________________.

Dated: _________________________

                                          ______________________________________
                                           Signature by or on behalf of Assignor

                                          ______________________________________
                                                  Signature Guaranteed

<PAGE>

                            DISTRIBUTION INSTRUCTIONS

               The Assignee should include the following for purposes of
distribution:

               Distributions shall, if permitted, be made by wire transfer or
otherwise, in immediately available funds, to _____________________________ for
the account of _______________.

               Distributions made by check (such check to be made payable to
_____________________) and all applicable statements and notices should be
mailed to _____________________________.

               This information is provided by ________________________________,
the Assignee named above, or ____________________________________, as its agent.

<PAGE>

                                  EXHIBIT A-7-5

                          FORM OF CLASS IO CERTIFICATE

             CLASS IO COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATE,
                                 SERIES 2006-C29

evidencing a beneficial ownership interest in a trust fund (the "Trust Fund")
consisting primarily of a pool of multifamily and commercial mortgage loans (the
"Mortgage Loans"), such pool being formed and sold by

                     WACHOVIA BANK COMMERCIAL MORTGAGE TRUST

Pass-Through Rate: Variable                  Aggregate Certificate Notional
                                             Amount of the Class IO Certificates
                                             as of the Closing Date:
                                             $3,371,274,173

Date of Pooling and Servicing Agreement:     Certificate Notional Amount of this
as of December 1, 2006                       Class IO Certificate as of the
                                             Closing Date: $500,000,000

Closing Date: December 21, 2006              Aggregate Stated Principal Balance
                                             of the Mortgage Loans as of the
                                             Cut-Off Date: $3,371,274,173

First Distribution Date: January 18, 2007

Master Servicer: Wachovia Bank, National     Trustee: Wells Fargo Bank, N.A.
Association

Special Servicer: LNR Partners, Inc.

Certificate No. IO-5                         CUSIP No. [_]

THIS CERTIFICATE DOES NOT HAVE A CERTIFICATE PRINCIPAL BALANCE AND WILL NOT
ENTITLE THE HOLDER HEREOF TO DISTRIBUTIONS OF PRINCIPAL, BUT IS ENTITLED TO
RECEIVE DISTRIBUTIONS OF INTEREST ONLY ON A NOTIONAL AMOUNT AS SET FORTH IN THE
AGREEMENT.

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST CORPORATION, A NEW YORK CORPORATION ("DTC"), TO THE DEPOSITOR,
THE MASTER SERVICER, THE TRUSTEE, THE CERTIFICATE REGISTRAR OR ANY AGENT THEREOF
FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED
IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO
SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY
TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON
IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
HEREIN.

THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN WACHOVIA
COMMERCIAL MORTGAGE SECURITIES, INC., WELLS FARGO BANK, N.A., LNR PARTNERS,
INC., WACHOVIA BANK, NATIONAL ASSOCIATION OR ANY OF THEIR RESPECTIVE AFFILIATES.
NEITHER THIS CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS ARE GUARANTEED BY ANY
AGENCY OR INSTRUMENTALITY OF THE UNITED STATES OR ANY OTHER PERSON.

SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE REPRESENTS A
"REGULAR INTEREST" IN A "REAL ESTATE MORTGAGE INVESTMENT CONDUIT" (A "REMIC") AS
THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL
REVENUE CODE OF 1986 (THE "CODE").

BECAUSE THE COMPONENTS COMPRISING THE NOTIONAL AMOUNT OF THE CLASS IO
CERTIFICATES WILL BE REDUCED BY ANY DISTRIBUTIONS IN REDUCTION OF THE
CERTIFICATE PRINCIPAL BALANCE OF THE CERTIFICATES RELATING TO SUCH COMPONENTS
AND BY CERTAIN LOSSES AND EXPENSES EXPERIENCED BY THE TRUST FUND WHICH ARE
ALLOCATED TO SUCH CERTIFICATES RELATING TO SUCH COMPONENTS AS SET FORTH IN THE
AGREEMENT, THE OUTSTANDING NOTIONAL AMOUNT HEREOF AT ANY TIME MAY BE LESS THAN
THE AMOUNT SHOWN ABOVE.

               This certifies that Cede & Co. is the registered owner of the
Percentage Interest evidenced by this Class IO Certificate in that certain
beneficial ownership interest evidenced by the Class IO Certificates in the
Trust Fund created pursuant to a Pooling and Servicing Agreement, dated as
specified above (the "Agreement"), among Wachovia Commercial Mortgage
Securities, Inc. (herein called the "Depositor", which term includes any
successor entity under the Agreement), Wachovia Bank, National Association
(herein called the "Master Servicer", which term includes any successor entity
under the Agreement), LNR Partners, Inc. (herein called the "Special Servicer",
which term includes any successor entity under the Agreement) and Wells Fargo
Bank, N.A. (herein called the "Trustee", which term includes any successor
entity under the Agreement), a summary of certain of the pertinent provisions of
which is set forth hereafter. To the extent not defined herein, the capitalized
terms used herein have the respective meanings assigned in the Agreement. This
Certificate is issued under and is subject to the terms, provisions and
conditions of the Agreement, to which Agreement the Holder of this Certificate
by virtue of the acceptance hereof assents and by which such Holder is bound.

               Pursuant to the terms of the Agreement, distributions will be
made on the fourth Business Day following the related Determination Date (each,
a "Distribution Date"). The Determination Date is the 11th day of each month or,
if such 11th day is not a Business Day, the Business Day immediately succeeding,
commencing in January 2007 (each, a "Determination Date"). Distributions will be
made commencing on the first Distribution Date specified above, to the Person in
whose name this Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such distribution
(the "Record Date"), in an amount equal to the product of the Percentage
Interest evidenced by this Certificate and the amount required to be distributed
to the Holders of the Class IO Certificates on the applicable Distribution Date
pursuant to the Agreement. The Pass-Through Rate applicable to the Class IO
Certificates for each Distribution Date is as provided in the Agreement. All
distributions made under the Agreement on the Class IO Certificates will be made
by Wells Fargo Bank, N.A., as paying agent (the "Paying Agent"), by wire
transfer of immediately available funds to the account of the Person entitled
thereto at a bank or other entity having appropriate facilities therefor, if
such Certificateholder shall have provided the Paying Agent with wiring
instructions no less than five Business Days prior to the related Record Date
(which wiring instructions may be in the form of a standing order applicable to
all subsequent distributions), or otherwise by check mailed to the address of
such Certificateholder as it appears in the Certificate Register.
Notwithstanding the foregoing, the final distribution on this Certificate will
be made in like manner, but only upon presentation and surrender of this
Certificate at the offices of the Certificate Registrar or such other location
specified in the notice to the Holder hereof of such final distribution.

               The Certificates are limited in right of distribution to certain
collections and recoveries respecting the Mortgage Loans and REO Loans, all as
more specifically set forth herein and in the Agreement. As provided in the
Agreement, withdrawals from the Certificate Account, the Distribution Account
and, if established, the REO Account may be made from time to time for purposes
other than, and, in certain cases, prior to, distributions to
Certificateholders, such purposes including the reimbursement of Advances made,
or certain expenses incurred, with respect to the Mortgage Loans and the payment
of interest on such Advances and expenses.

               Interest accrued on this Certificate during an Interest Accrual
Period, plus any unpaid interest shortfall with respect to this Certificate for
any prior Distribution Date, if any, will be payable on the related Distribution
Date to the extent provided in the Agreement. The "Interest Accrual Period" with
respect to any Distribution Date and with respect to the Class IO Certificates
is the calendar month preceding the month in which such Distribution Date occurs
and is assumed to consist of 30 days.

               The Class IO Certificates are issuable in fully registered form
only without coupons in minimum denominations specified in the Agreement. As
provided in the Agreement and subject to certain limitations therein set forth,
the Class IO Certificates are exchangeable for new Class IO Certificates in
authorized denominations evidencing the same aggregate Percentage Interest, as
requested by the Holder surrendering the same.

               As provided in the Agreement and subject to certain limitations
therein set forth, the transfer of this Certificate is registrable in the
Certificate Register upon surrender of this Certificate for registration of
transfer at the offices of the Certificate Registrar, duly endorsed by, or
accompanied by a written instrument of transfer in the form satisfactory to the
Certificate Registrar duly executed by, the Holder hereof or his attorney duly
authorized in writing, and thereupon one or more new Class IO Certificates in
authorized denominations evidencing the same aggregate Percentage Interest will
be issued to the designated transferee or transferees.

               No service charge will be imposed for any registration of
transfer or exchange of Class IO Certificates, but the Certificate Registrar may
require payment of a sum sufficient to cover any tax or other governmental
charge that may be imposed in connection with any transfer or exchange of Class
IO Certificates.

               Notwithstanding the foregoing, for so long as this Certificate is
registered in the name of Cede & Co. or in such other name as is requested by an
authorized representative of DTC, transfers of interests in this Certificate
shall be made through the book-entry facilities of DTC.

               The Depositor, the Master Servicer, the Special Servicer, the
Trustee, the Paying Agent and the Certificate Registrar and any agent of the
Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying
Agent or the Certificate Registrar may treat the Person in whose name this
Certificate is registered as the owner hereof for all purposes whatsoever and
none of the Depositor, the Master Servicer, the Special Servicer, the Trustee,
the Paying Agent, the Certificate Registrar, or any such agent shall be affected
by notice to the contrary.

               The Trust Fund and the obligations created by the Agreement shall
terminate upon distribution (or provision for distribution) to the
Certificateholders of all amounts held by or on behalf of the Trustee and
required to be distributed to them pursuant to the Agreement following the
earlier to occur of (i) the final payment (or any advance with respect thereto)
or other liquidation of the last Mortgage Loan or REO Property remaining in the
Trust Fund, and (ii) the purchase by the Master Servicer, the Special Servicer
or the Majority Subordinate Certificateholder at a price determined as provided
in the Agreement of all Mortgage Loans and each REO Property remaining in the
Trust Fund. The Agreement permits, but does not require, the Master Servicer,
the Special Servicer or the Majority Subordinate Certificateholder to purchase
from the Trust Fund all Mortgage Loans and each REO Property remaining therein.
The exercise of such right will effect early retirement of the Class IO
Certificates; however, such right to purchase is subject to the aggregate Stated
Principal Balance of the Mortgage Pool at the time of purchase being less than
1% of the aggregate Stated Principal Balance of the Mortgage Loans as of the
Cut-Off Date specified on the face hereof.

               In addition, any exchange by any Certificateholder of all of the
then outstanding Certificates (other than the Class Z, Class R-I and Class R-II
Certificates) for all of the Mortgage Loans and each REO Property remaining in
the Trust Fund may be made: (i) if the then outstanding Certificates (other than
the Class Z, Class R-I and Class R-II Certificates) are held by a single
Certificateholder and (ii) the Class A-1, Class A-2, Class A-3, Class A-PB,
Class A-4, Class A-1A, Class A-M, Class A-J, Class B, Class C, Class D and Class
E Certificates have been paid in full.

               The Agreement permits, with certain exceptions therein provided,
the amendment thereof and the modification of the rights and obligations of the
Depositor, the Master Servicer, the Special Servicer and the Trustee and the
rights of the Certificateholders under the Agreement at any time by the
Depositor, the Master Servicer, the Special Servicer and the Trustee with the
consent of the Holders of Certificates entitled to at least 51% of the Voting
Rights allocated to the affected Classes. Any such consent by the Holder of this
Certificate shall be conclusive and binding on such Holder and upon all future
Holders of this Certificate and of any Certificate issued upon the transfer
hereof or in exchange herefor or in lieu hereof whether or not notation of such
consent is made upon this Certificate. The Agreement also permits the amendment
thereof, in certain limited circumstances, including any amendment necessary to
maintain the status of the Trust Fund (or designated portions thereof) as
consisting of two separate REMICs and one grantor trust, without the consent of
the Holders of any of the Certificates.

               Unless the certificate of authentication hereon has been executed
by the Certificate Registrar, by manual signature, this Certificate shall not be
entitled to any benefit under the Agreement or be valid for any purpose.

               The registered Holder hereof, by its acceptance hereof, agrees
that it will look solely to the Trust Fund (to the extent of its rights therein)
for distributions hereunder.

               This Certificate shall be construed in accordance with the
internal laws of the State of New York applicable to agreements made and to be
performed in said State, and the obligations, rights and remedies of the Holder
hereof shall be determined in accordance with such laws.

<PAGE>

               IN WITNESS WHEREOF, the Certificate Registrar has caused this
Certificate to be duly executed.

Dated: December 21, 2006

                                          WELLS FARGO BANK, N.A., as Certificate
                                              Registrar

                                          By: __________________________________
                                              Authorized Representative

                          CERTIFICATE OF AUTHENTICATION

               This is one of the Class IO Certificates referred to in the
within-mentioned Agreement.

                                          WELLS FARGO BANK, N.A., as
                                              Authenticating Agent

                                          By: __________________________________
                                              Authorized Representative

<PAGE>

                                   ASSIGNMENT

               FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and
transfer(s) unto ________________________________________________________
(please print or typewrite name and address including postal zip code of
assignee) the beneficial ownership interest in the Trust Fund evidenced by the
within Commercial Mortgage Pass-Through Certificate and hereby authorize(s) the
registration of transfer of such interest to assignee on the Certificate
Register of the Trust Fund.

               I (we) further direct the Certificate Registrar to issue a new
Commercial Mortgage Pass-Through Certificate of a like Percentage Interest and
Class to the above named assignee and deliver such Commercial Mortgage
Pass-Through Certificate to the following address:
_________________________________________________________________________.

Dated: _________________________

                                          ______________________________________
                                           Signature by or on behalf of Assignor

                                          ______________________________________
                                                  Signature Guaranteed

<PAGE>

                            DISTRIBUTION INSTRUCTIONS

               The Assignee should include the following for purposes of
distribution:

               Distributions shall, if permitted, be made by wire transfer or
otherwise, in immediately available funds, to _____________________________ for
the account of _______________.

               Distributions made by check (such check to be made payable to
_____________________) and all applicable statements and notices should be
mailed to _____________________________.

               This information is provided by ________________________________,
the Assignee named above, or ____________________________________, as its agent.

<PAGE>

                                  EXHIBIT A-7-6

                          FORM OF CLASS IO CERTIFICATE

             CLASS IO COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATE,
                                 SERIES 2006-C29

evidencing a beneficial ownership interest in a trust fund (the "Trust Fund")
consisting primarily of a pool of multifamily and commercial mortgage loans (the
"Mortgage Loans"), such pool being formed and sold by

                     WACHOVIA BANK COMMERCIAL MORTGAGE TRUST

Pass-Through Rate: Variable                  Aggregate Certificate Notional
                                             Amount of the Class IO Certificates
                                             as of the Closing Date:
                                             $3,371,274,173

Date of Pooling and Servicing Agreement:     Certificate Notional Amount of this
as of December 1, 2006                       Class IO Certificate as of the
                                             Closing Date: $500,000,000

Closing Date: December 21, 2006              Aggregate Stated Principal Balance
                                             of the Mortgage Loans as of the
                                             Cut-Off Date: $3,371,274,173

First Distribution Date: January 18, 2007

Master Servicer: Wachovia Bank, National     Trustee: Wells Fargo Bank, N.A.
Association

Special Servicer: LNR Partners, Inc.

Certificate No. IO-6                         CUSIP No. [_]

THIS CERTIFICATE DOES NOT HAVE A CERTIFICATE PRINCIPAL BALANCE AND WILL NOT
ENTITLE THE HOLDER HEREOF TO DISTRIBUTIONS OF PRINCIPAL, BUT IS ENTITLED TO
RECEIVE DISTRIBUTIONS OF INTEREST ONLY ON A NOTIONAL AMOUNT AS SET FORTH IN THE
AGREEMENT.

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST CORPORATION, A NEW YORK CORPORATION ("DTC"), TO THE DEPOSITOR,
THE MASTER SERVICER, THE TRUSTEE, THE CERTIFICATE REGISTRAR OR ANY AGENT THEREOF
FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED
IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO
SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY
TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON
IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
HEREIN.

THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN WACHOVIA
COMMERCIAL MORTGAGE SECURITIES, INC., WELLS FARGO BANK, N.A., LNR PARTNERS,
INC., WACHOVIA BANK, NATIONAL ASSOCIATION OR ANY OF THEIR RESPECTIVE AFFILIATES.
NEITHER THIS CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS ARE GUARANTEED BY ANY
AGENCY OR INSTRUMENTALITY OF THE UNITED STATES OR ANY OTHER PERSON.

SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE REPRESENTS A
"REGULAR INTEREST" IN A "REAL ESTATE MORTGAGE INVESTMENT CONDUIT" (A "REMIC") AS
THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL
REVENUE CODE OF 1986 (THE "CODE").

BECAUSE THE COMPONENTS COMPRISING THE NOTIONAL AMOUNT OF THE CLASS IO
CERTIFICATES WILL BE REDUCED BY ANY DISTRIBUTIONS IN REDUCTION OF THE
CERTIFICATE PRINCIPAL BALANCE OF THE CERTIFICATES RELATING TO SUCH COMPONENTS
AND BY CERTAIN LOSSES AND EXPENSES EXPERIENCED BY THE TRUST FUND WHICH ARE
ALLOCATED TO SUCH CERTIFICATES RELATING TO SUCH COMPONENTS AS SET FORTH IN THE
AGREEMENT, THE OUTSTANDING NOTIONAL AMOUNT HEREOF AT ANY TIME MAY BE LESS THAN
THE AMOUNT SHOWN ABOVE.

               This certifies that Cede & Co. is the registered owner of the
Percentage Interest evidenced by this Class IO Certificate in that certain
beneficial ownership interest evidenced by the Class IO Certificates in the
Trust Fund created pursuant to a Pooling and Servicing Agreement, dated as
specified above (the "Agreement"), among Wachovia Commercial Mortgage
Securities, Inc. (herein called the "Depositor", which term includes any
successor entity under the Agreement), Wachovia Bank, National Association
(herein called the "Master Servicer", which term includes any successor entity
under the Agreement), LNR Partners, Inc. (herein called the "Special Servicer",
which term includes any successor entity under the Agreement) and Wells Fargo
Bank, N.A. (herein called the "Trustee", which term includes any successor
entity under the Agreement), a summary of certain of the pertinent provisions of
which is set forth hereafter. To the extent not defined herein, the capitalized
terms used herein have the respective meanings assigned in the Agreement. This
Certificate is issued under and is subject to the terms, provisions and
conditions of the Agreement, to which Agreement the Holder of this Certificate
by virtue of the acceptance hereof assents and by which such Holder is bound.

               Pursuant to the terms of the Agreement, distributions will be
made on the fourth Business Day following the related Determination Date (each,
a "Distribution Date"). The Determination Date is the 11th day of each month or,
if such 11th day is not a Business Day, the Business Day immediately succeeding,
commencing in January 2007 (each, a "Determination Date"). Distributions will be
made commencing on the first Distribution Date specified above, to the Person in
whose name this Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such distribution
(the "Record Date"), in an amount equal to the product of the Percentage
Interest evidenced by this Certificate and the amount required to be distributed
to the Holders of the Class IO Certificates on the applicable Distribution Date
pursuant to the Agreement. The Pass-Through Rate applicable to the Class IO
Certificates for each Distribution Date is as provided in the Agreement. All
distributions made under the Agreement on the Class IO Certificates will be made
by Wells Fargo Bank, N.A., as paying agent (the "Paying Agent"), by wire
transfer of immediately available funds to the account of the Person entitled
thereto at a bank or other entity having appropriate facilities therefor, if
such Certificateholder shall have provided the Paying Agent with wiring
instructions no less than five Business Days prior to the related Record Date
(which wiring instructions may be in the form of a standing order applicable to
all subsequent distributions), or otherwise by check mailed to the address of
such Certificateholder as it appears in the Certificate Register.
Notwithstanding the foregoing, the final distribution on this Certificate will
be made in like manner, but only upon presentation and surrender of this
Certificate at the offices of the Certificate Registrar or such other location
specified in the notice to the Holder hereof of such final distribution.

               The Certificates are limited in right of distribution to certain
collections and recoveries respecting the Mortgage Loans and REO Loans, all as
more specifically set forth herein and in the Agreement. As provided in the
Agreement, withdrawals from the Certificate Account, the Distribution Account
and, if established, the REO Account may be made from time to time for purposes
other than, and, in certain cases, prior to, distributions to
Certificateholders, such purposes including the reimbursement of Advances made,
or certain expenses incurred, with respect to the Mortgage Loans and the payment
of interest on such Advances and expenses.

               Interest accrued on this Certificate during an Interest Accrual
Period, plus any unpaid interest shortfall with respect to this Certificate for
any prior Distribution Date, if any, will be payable on the related Distribution
Date to the extent provided in the Agreement. The "Interest Accrual Period" with
respect to any Distribution Date and with respect to the Class IO Certificates
is the calendar month preceding the month in which such Distribution Date occurs
and is assumed to consist of 30 days.

               The Class IO Certificates are issuable in fully registered form
only without coupons in minimum denominations specified in the Agreement. As
provided in the Agreement and subject to certain limitations therein set forth,
the Class IO Certificates are exchangeable for new Class IO Certificates in
authorized denominations evidencing the same aggregate Percentage Interest, as
requested by the Holder surrendering the same.

               As provided in the Agreement and subject to certain limitations
therein set forth, the transfer of this Certificate is registrable in the
Certificate Register upon surrender of this Certificate for registration of
transfer at the offices of the Certificate Registrar, duly endorsed by, or
accompanied by a written instrument of transfer in the form satisfactory to the
Certificate Registrar duly executed by, the Holder hereof or his attorney duly
authorized in writing, and thereupon one or more new Class IO Certificates in
authorized denominations evidencing the same aggregate Percentage Interest will
be issued to the designated transferee or transferees.

               No service charge will be imposed for any registration of
transfer or exchange of Class IO Certificates, but the Certificate Registrar may
require payment of a sum sufficient to cover any tax or other governmental
charge that may be imposed in connection with any transfer or exchange of Class
IO Certificates.

               Notwithstanding the foregoing, for so long as this Certificate is
registered in the name of Cede & Co. or in such other name as is requested by an
authorized representative of DTC, transfers of interests in this Certificate
shall be made through the book-entry facilities of DTC.

               The Depositor, the Master Servicer, the Special Servicer, the
Trustee, the Paying Agent and the Certificate Registrar and any agent of the
Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying
Agent or the Certificate Registrar may treat the Person in whose name this
Certificate is registered as the owner hereof for all purposes whatsoever and
none of the Depositor, the Master Servicer, the Special Servicer, the Trustee,
the Paying Agent, the Certificate Registrar, or any such agent shall be affected
by notice to the contrary.

               The Trust Fund and the obligations created by the Agreement shall
terminate upon distribution (or provision for distribution) to the
Certificateholders of all amounts held by or on behalf of the Trustee and
required to be distributed to them pursuant to the Agreement following the
earlier to occur of (i) the final payment (or any advance with respect thereto)
or other liquidation of the last Mortgage Loan or REO Property remaining in the
Trust Fund, and (ii) the purchase by the Master Servicer, the Special Servicer
or the Majority Subordinate Certificateholder at a price determined as provided
in the Agreement of all Mortgage Loans and each REO Property remaining in the
Trust Fund. The Agreement permits, but does not require, the Master Servicer,
the Special Servicer or the Majority Subordinate Certificateholder to purchase
from the Trust Fund all Mortgage Loans and each REO Property remaining therein.
The exercise of such right will effect early retirement of the Class IO
Certificates; however, such right to purchase is subject to the aggregate Stated
Principal Balance of the Mortgage Pool at the time of purchase being less than
1% of the aggregate Stated Principal Balance of the Mortgage Loans as of the
Cut-Off Date specified on the face hereof.

               In addition, any exchange by any Certificateholder of all of the
then outstanding Certificates (other than the Class Z, Class R-I and Class R-II
Certificates) for all of the Mortgage Loans and each REO Property remaining in
the Trust Fund may be made: (i) if the then outstanding Certificates (other than
the Class Z, Class R-I and Class R-II Certificates) are held by a single
Certificateholder and (ii) the Class A-1, Class A-2, Class A-3, Class A-PB,
Class A-4, Class A-1A, Class A-M, Class A-J, Class B, Class C, Class D and Class
E Certificates have been paid in full.

               The Agreement permits, with certain exceptions therein provided,
the amendment thereof and the modification of the rights and obligations of the
Depositor, the Master Servicer, the Special Servicer and the Trustee and the
rights of the Certificateholders under the Agreement at any time by the
Depositor, the Master Servicer, the Special Servicer and the Trustee with the
consent of the Holders of Certificates entitled to at least 51% of the Voting
Rights allocated to the affected Classes. Any such consent by the Holder of this
Certificate shall be conclusive and binding on such Holder and upon all future
Holders of this Certificate and of any Certificate issued upon the transfer
hereof or in exchange herefor or in lieu hereof whether or not notation of such
consent is made upon this Certificate. The Agreement also permits the amendment
thereof, in certain limited circumstances, including any amendment necessary to
maintain the status of the Trust Fund (or designated portions thereof) as
consisting of two separate REMICs and one grantor trust, without the consent of
the Holders of any of the Certificates.

               Unless the certificate of authentication hereon has been executed
by the Certificate Registrar, by manual signature, this Certificate shall not be
entitled to any benefit under the Agreement or be valid for any purpose.

               The registered Holder hereof, by its acceptance hereof, agrees
that it will look solely to the Trust Fund (to the extent of its rights therein)
for distributions hereunder.

               This Certificate shall be construed in accordance with the
internal laws of the State of New York applicable to agreements made and to be
performed in said State, and the obligations, rights and remedies of the Holder
hereof shall be determined in accordance with such laws.

<PAGE>

               IN WITNESS WHEREOF, the Certificate Registrar has caused this
Certificate to be duly executed.

Dated: December 21, 2006

                                          WELLS FARGO BANK, N.A., as Certificate
                                              Registrar

                                          By: __________________________________
                                              Authorized Representative

                          CERTIFICATE OF AUTHENTICATION

               This is one of the Class IO Certificates referred to in the
within-mentioned Agreement.

                                          WELLS FARGO BANK, N.A., as
                                              Authenticating Agent

                                          By: __________________________________
                                              Authorized Representative

<PAGE>

                                   ASSIGNMENT

               FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and
transfer(s) unto ________________________________________________________
(please print or typewrite name and address including postal zip code of
assignee) the beneficial ownership interest in the Trust Fund evidenced by the
within Commercial Mortgage Pass-Through Certificate and hereby authorize(s) the
registration of transfer of such interest to assignee on the Certificate
Register of the Trust Fund.

               I (we) further direct the Certificate Registrar to issue a new
Commercial Mortgage Pass-Through Certificate of a like Percentage Interest and
Class to the above named assignee and deliver such Commercial Mortgage
Pass-Through Certificate to the following address:
_________________________________________________________________________.

Dated: _________________________

                                          ______________________________________
                                           Signature by or on behalf of Assignor

                                          ______________________________________
                                                  Signature Guaranteed

<PAGE>

                            DISTRIBUTION INSTRUCTIONS

               The Assignee should include the following for purposes of
distribution:

               Distributions shall, if permitted, be made by wire transfer or
otherwise, in immediately available funds, to _____________________________ for
the account of _______________.

               Distributions made by check (such check to be made payable to
_____________________) and all applicable statements and notices should be
mailed to _____________________________.

               This information is provided by ________________________________,
the Assignee named above, or ____________________________________, as its agent.

<PAGE>

                                  EXHIBIT A-7-7

                          FORM OF CLASS IO CERTIFICATE

             CLASS IO COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATE,
                                 SERIES 2006-C29

evidencing a beneficial ownership interest in a trust fund (the "Trust Fund")
consisting primarily of a pool of multifamily and commercial mortgage loans (the
"Mortgage Loans"), such pool being formed and sold by

                     WACHOVIA BANK COMMERCIAL MORTGAGE TRUST

Pass-Through Rate: Variable                  Aggregate Certificate Notional
                                             Amount of the Class IO Certificates
                                             as of the Closing Date:
                                             $3,371,274,173

Date of Pooling and Servicing Agreement:     Certificate Notional Amount of this
as of December 1, 2006                       Class IO Certificate as of the
                                             Closing Date: $371,274,173

Closing Date: December 21, 2006              Aggregate Stated Principal Balance
                                             of the Mortgage Loans as of the
                                             Cut-Off Date: $3,371,274,173

First Distribution Date: January 18, 2007

Master Servicer: Wachovia Bank, National     Trustee: Wells Fargo Bank, N.A.
Association

Special Servicer: LNR Partners, Inc.

Certificate No. IO-7                         CUSIP No. [_]

THIS CERTIFICATE DOES NOT HAVE A CERTIFICATE PRINCIPAL BALANCE AND WILL NOT
ENTITLE THE HOLDER HEREOF TO DISTRIBUTIONS OF PRINCIPAL, BUT IS ENTITLED TO
RECEIVE DISTRIBUTIONS OF INTEREST ONLY ON A NOTIONAL AMOUNT AS SET FORTH IN THE
AGREEMENT.

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST CORPORATION, A NEW YORK CORPORATION ("DTC"), TO THE DEPOSITOR,
THE MASTER SERVICER, THE TRUSTEE, THE CERTIFICATE REGISTRAR OR ANY AGENT THEREOF
FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED
IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO
SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY
TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON
IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
HEREIN.

THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN WACHOVIA
COMMERCIAL MORTGAGE SECURITIES, INC., WELLS FARGO BANK, N.A., LNR PARTNERS,
INC., WACHOVIA BANK, NATIONAL ASSOCIATION OR ANY OF THEIR RESPECTIVE AFFILIATES.
NEITHER THIS CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS ARE GUARANTEED BY ANY
AGENCY OR INSTRUMENTALITY OF THE UNITED STATES OR ANY OTHER PERSON.

SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE REPRESENTS A
"REGULAR INTEREST" IN A "REAL ESTATE MORTGAGE INVESTMENT CONDUIT" (A "REMIC") AS
THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL
REVENUE CODE OF 1986 (THE "CODE").

BECAUSE THE COMPONENTS COMPRISING THE NOTIONAL AMOUNT OF THE CLASS IO
CERTIFICATES WILL BE REDUCED BY ANY DISTRIBUTIONS IN REDUCTION OF THE
CERTIFICATE PRINCIPAL BALANCE OF THE CERTIFICATES RELATING TO SUCH COMPONENTS
AND BY CERTAIN LOSSES AND EXPENSES EXPERIENCED BY THE TRUST FUND WHICH ARE
ALLOCATED TO SUCH CERTIFICATES RELATING TO SUCH COMPONENTS AS SET FORTH IN THE
AGREEMENT, THE OUTSTANDING NOTIONAL AMOUNT HEREOF AT ANY TIME MAY BE LESS THAN
THE AMOUNT SHOWN ABOVE.

               This certifies that Cede & Co. is the registered owner of the
Percentage Interest evidenced by this Class IO Certificate in that certain
beneficial ownership interest evidenced by the Class IO Certificates in the
Trust Fund created pursuant to a Pooling and Servicing Agreement, dated as
specified above (the "Agreement"), among Wachovia Commercial Mortgage
Securities, Inc. (herein called the "Depositor", which term includes any
successor entity under the Agreement), Wachovia Bank, National Association
(herein called the "Master Servicer", which term includes any successor entity
under the Agreement), LNR Partners, Inc. (herein called the "Special Servicer",
which term includes any successor entity under the Agreement) and Wells Fargo
Bank, N.A. (herein called the "Trustee", which term includes any successor
entity under the Agreement), a summary of certain of the pertinent provisions of
which is set forth hereafter. To the extent not defined herein, the capitalized
terms used herein have the respective meanings assigned in the Agreement. This
Certificate is issued under and is subject to the terms, provisions and
conditions of the Agreement, to which Agreement the Holder of this Certificate
by virtue of the acceptance hereof assents and by which such Holder is bound.

               Pursuant to the terms of the Agreement, distributions will be
made on the fourth Business Day following the related Determination Date (each,
a "Distribution Date"). The Determination Date is the 11th day of each month or,
if such 11th day is not a Business Day, the Business Day immediately succeeding,
commencing in January 2007 (each, a "Determination Date"). Distributions will be
made commencing on the first Distribution Date specified above, to the Person in
whose name this Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such distribution
(the "Record Date"), in an amount equal to the product of the Percentage
Interest evidenced by this Certificate and the amount required to be distributed
to the Holders of the Class IO Certificates on the applicable Distribution Date
pursuant to the Agreement. The Pass-Through Rate applicable to the Class IO
Certificates for each Distribution Date is as provided in the Agreement. All
distributions made under the Agreement on the Class IO Certificates will be made
by Wells Fargo Bank, N.A., as paying agent (the "Paying Agent"), by wire
transfer of immediately available funds to the account of the Person entitled
thereto at a bank or other entity having appropriate facilities therefor, if
such Certificateholder shall have provided the Paying Agent with wiring
instructions no less than five Business Days prior to the related Record Date
(which wiring instructions may be in the form of a standing order applicable to
all subsequent distributions), or otherwise by check mailed to the address of
such Certificateholder as it appears in the Certificate Register.
Notwithstanding the foregoing, the final distribution on this Certificate will
be made in like manner, but only upon presentation and surrender of this
Certificate at the offices of the Certificate Registrar or such other location
specified in the notice to the Holder hereof of such final distribution.

               The Certificates are limited in right of distribution to certain
collections and recoveries respecting the Mortgage Loans and REO Loans, all as
more specifically set forth herein and in the Agreement. As provided in the
Agreement, withdrawals from the Certificate Account, the Distribution Account
and, if established, the REO Account may be made from time to time for purposes
other than, and, in certain cases, prior to, distributions to
Certificateholders, such purposes including the reimbursement of Advances made,
or certain expenses incurred, with respect to the Mortgage Loans and the payment
of interest on such Advances and expenses.

               Interest accrued on this Certificate during an Interest Accrual
Period, plus any unpaid interest shortfall with respect to this Certificate for
any prior Distribution Date, if any, will be payable on the related Distribution
Date to the extent provided in the Agreement. The "Interest Accrual Period" with
respect to any Distribution Date and with respect to the Class IO Certificates
is the calendar month preceding the month in which such Distribution Date occurs
and is assumed to consist of 30 days.

               The Class IO Certificates are issuable in fully registered form
only without coupons in minimum denominations specified in the Agreement. As
provided in the Agreement and subject to certain limitations therein set forth,
the Class IO Certificates are exchangeable for new Class IO Certificates in
authorized denominations evidencing the same aggregate Percentage Interest, as
requested by the Holder surrendering the same.

               As provided in the Agreement and subject to certain limitations
therein set forth, the transfer of this Certificate is registrable in the
Certificate Register upon surrender of this Certificate for registration of
transfer at the offices of the Certificate Registrar, duly endorsed by, or
accompanied by a written instrument of transfer in the form satisfactory to the
Certificate Registrar duly executed by, the Holder hereof or his attorney duly
authorized in writing, and thereupon one or more new Class IO Certificates in
authorized denominations evidencing the same aggregate Percentage Interest will
be issued to the designated transferee or transferees.

               No service charge will be imposed for any registration of
transfer or exchange of Class IO Certificates, but the Certificate Registrar may
require payment of a sum sufficient to cover any tax or other governmental
charge that may be imposed in connection with any transfer or exchange of Class
IO Certificates.

               Notwithstanding the foregoing, for so long as this Certificate is
registered in the name of Cede & Co. or in such other name as is requested by an
authorized representative of DTC, transfers of interests in this Certificate
shall be made through the book-entry facilities of DTC.

               The Depositor, the Master Servicer, the Special Servicer, the
Trustee, the Paying Agent and the Certificate Registrar and any agent of the
Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying
Agent or the Certificate Registrar may treat the Person in whose name this
Certificate is registered as the owner hereof for all purposes whatsoever and
none of the Depositor, the Master Servicer, the Special Servicer, the Trustee,
the Paying Agent, the Certificate Registrar, or any such agent shall be affected
by notice to the contrary.

               The Trust Fund and the obligations created by the Agreement shall
terminate upon distribution (or provision for distribution) to the
Certificateholders of all amounts held by or on behalf of the Trustee and
required to be distributed to them pursuant to the Agreement following the
earlier to occur of (i) the final payment (or any advance with respect thereto)
or other liquidation of the last Mortgage Loan or REO Property remaining in the
Trust Fund, and (ii) the purchase by the Master Servicer, the Special Servicer
or the Majority Subordinate Certificateholder at a price determined as provided
in the Agreement of all Mortgage Loans and each REO Property remaining in the
Trust Fund. The Agreement permits, but does not require, the Master Servicer,
the Special Servicer or the Majority Subordinate Certificateholder to purchase
from the Trust Fund all Mortgage Loans and each REO Property remaining therein.
The exercise of such right will effect early retirement of the Class IO
Certificates; however, such right to purchase is subject to the aggregate Stated
Principal Balance of the Mortgage Pool at the time of purchase being less than
1% of the aggregate Stated Principal Balance of the Mortgage Loans as of the
Cut-Off Date specified on the face hereof.

               In addition, any exchange by any Certificateholder of all of the
then outstanding Certificates (other than the Class Z, Class R-I and Class R-II
Certificates) for all of the Mortgage Loans and each REO Property remaining in
the Trust Fund may be made: (i) if the then outstanding Certificates (other than
the Class Z, Class R-I and Class R-II Certificates) are held by a single
Certificateholder and (ii) the Class A-1, Class A-2, Class A-3, Class A-PB,
Class A-4, Class A-1A, Class A-M, Class A-J, Class B, Class C, Class D and Class
E Certificates have been paid in full.

               The Agreement permits, with certain exceptions therein provided,
the amendment thereof and the modification of the rights and obligations of the
Depositor, the Master Servicer, the Special Servicer and the Trustee and the
rights of the Certificateholders under the Agreement at any time by the
Depositor, the Master Servicer, the Special Servicer and the Trustee with the
consent of the Holders of Certificates entitled to at least 51% of the Voting
Rights allocated to the affected Classes. Any such consent by the Holder of this
Certificate shall be conclusive and binding on such Holder and upon all future
Holders of this Certificate and of any Certificate issued upon the transfer
hereof or in exchange herefor or in lieu hereof whether or not notation of such
consent is made upon this Certificate. The Agreement also permits the amendment
thereof, in certain limited circumstances, including any amendment necessary to
maintain the status of the Trust Fund (or designated portions thereof) as
consisting of two separate REMICs and one grantor trust, without the consent of
the Holders of any of the Certificates.

               Unless the certificate of authentication hereon has been executed
by the Certificate Registrar, by manual signature, this Certificate shall not be
entitled to any benefit under the Agreement or be valid for any purpose.

               The registered Holder hereof, by its acceptance hereof, agrees
that it will look solely to the Trust Fund (to the extent of its rights therein)
for distributions hereunder.

               This Certificate shall be construed in accordance with the
internal laws of the State of New York applicable to agreements made and to be
performed in said State, and the obligations, rights and remedies of the Holder
hereof shall be determined in accordance with such laws.

<PAGE>

               IN WITNESS WHEREOF, the Certificate Registrar has caused this
Certificate to be duly executed.

Dated: December 21, 2006

                                          WELLS FARGO BANK, N.A., as Certificate
                                              Registrar

                                          By: __________________________________
                                              Authorized Representative

                          CERTIFICATE OF AUTHENTICATION

               This is one of the Class IO Certificates referred to in the
within-mentioned Agreement.

                                          WELLS FARGO BANK, N.A., as
                                              Authenticating Agent

                                          By: __________________________________
                                              Authorized Representative

<PAGE>

                                   ASSIGNMENT

               FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and
transfer(s) unto ________________________________________________________
(please print or typewrite name and address including postal zip code of
assignee) the beneficial ownership interest in the Trust Fund evidenced by the
within Commercial Mortgage Pass-Through Certificate and hereby authorize(s) the
registration of transfer of such interest to assignee on the Certificate
Register of the Trust Fund.

               I (we) further direct the Certificate Registrar to issue a new
Commercial Mortgage Pass-Through Certificate of a like Percentage Interest and
Class to the above named assignee and deliver such Commercial Mortgage
Pass-Through Certificate to the following address:
_________________________________________________________________________.

Dated: _________________________

                                          ______________________________________
                                           Signature by or on behalf of Assignor

                                          ______________________________________
                                                  Signature Guaranteed

<PAGE>

                            DISTRIBUTION INSTRUCTIONS

               The Assignee should include the following for purposes of
distribution:

               Distributions shall, if permitted, be made by wire transfer or
otherwise, in immediately available funds, to _____________________________ for
the account of _______________.

               Distributions made by check (such check to be made payable to
_____________________) and all applicable statements and notices should be
mailed to _____________________________.

               This information is provided by ________________________________,
the Assignee named above, or ____________________________________, as its agent.

<PAGE>

                                   EXHIBIT A-8

                          FORM OF CLASS A-M CERTIFICATE

             CLASS A-M COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATE,
                                 SERIES 2006-C29

evidencing a beneficial ownership interest in a trust fund (the "Trust Fund")
consisting primarily of a pool of multifamily and commercial mortgage loans (the
"Mortgage Loans"), such pool being formed and sold by

                     WACHOVIA BANK COMMERCIAL MORTGAGE TRUST

Pass-Through Rate: [__]% per annum           Class Principal Balance of the
                                             Class A-M Certificates as of the
                                             Closing Date: $337,128,000

Date of Pooling and Servicing Agreement:     Initial Certificate Principal
as of December 1, 2006                       Balance of this Class A-M
                                             Certificate as of the Closing Date:
                                             $337,128,000

Closing Date: December 21, 2006              Aggregate Stated Principal Balance
                                             of the Mortgage Loans as of the
                                             Cut-Off Date: $3,371,274,173

First Distribution Date: January 18, 2007

Master Servicer: Wachovia Bank, National     Trustee: Wells Fargo Bank, N.A.
Association

Special Servicer: LNR Partners, Inc.

Certificate No. A-M-1                        CUSIP No. [_]

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST CORPORATION, A NEW YORK CORPORATION ("DTC"), TO THE DEPOSITOR,
THE MASTER SERVICER, THE TRUSTEE, THE CERTIFICATE REGISTRAR OR ANY AGENT THEREOF
FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED
IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO
SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY
TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON
IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
HEREIN.

THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN WACHOVIA
COMMERCIAL MORTGAGE SECURITIES, INC., WELLS FARGO BANK, N.A., LNR PARTNERS,
INC., WACHOVIA BANK, NATIONAL ASSOCIATION OR ANY OF THEIR RESPECTIVE AFFILIATES.
NEITHER THIS CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS ARE GUARANTEED BY ANY
AGENCY OR INSTRUMENTALITY OF THE UNITED STATES OR ANY OTHER PERSON.

SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE IS A "REGULAR
INTEREST" IN A "REAL ESTATE MORTGAGE INVESTMENT CONDUIT" (A "REMIC") AS THOSE
TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL
REVENUE CODE OF 1986 (THE "CODE").

THIS CERTIFICATE IS SUBORDINATE TO THE CLASS A-1 CERTIFICATES, THE CLASS A-2
CERTIFICATES, THE CLASS A-3 CERTIFICATES, THE CLASS A-PB CERTIFICATES, THE CLASS
A-4 CERTIFICATES AND THE CLASS A-1A CERTIFICATES OF THE SAME SERIES TO THE
EXTENT DESCRIBED IN THE AGREEMENT REFERRED TO HEREIN.

IF THE AGGREGATE CERTIFICATE PRINCIPAL BALANCE OF THE CLASS A-1 CERTIFICATES,
THE CLASS A-2 CERTIFICATES, THE CLASS A-3 CERTIFICATES, THE CLASS A-PB
CERTIFICATES, THE CLASS A-4 CERTIFICATES AND THE CLASS A-1A CERTIFICATES OF THE
SAME SERIES IS REDUCED TO ZERO, DISTRIBUTIONS IN REDUCTION OF THE CERTIFICATE
PRINCIPAL BALANCE OF THIS CERTIFICATE MAY BE MADE MONTHLY AS SET FORTH IN THE
POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN. IN ADDITION, IF THE
AGGREGATE CERTIFICATE PRINCIPAL BALANCE OF THE CLASS A-J, CLASS B, CLASS C,
CLASS D, CLASS E, CLASS F, CLASS G, CLASS H, CLASS J, CLASS K, CLASS L, CLASS M,
CLASS N, CLASS O, CLASS P AND CLASS Q CERTIFICATES OF THE SAME SERIES IS REDUCED
TO ZERO, THE CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE MAY BE REDUCED BY
CERTAIN LOSSES AND EXPENSES EXPERIENCED BY THE TRUST FUND AS SET FORTH IN THE
AGREEMENT REFERRED TO HEREIN. ACCORDINGLY, THE OUTSTANDING CERTIFICATE PRINCIPAL
BALANCE HEREOF AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ABOVE.

               This certifies that Cede & Co. is the registered owner of the
Percentage Interest evidenced by this Class A-M Certificate (obtained by
dividing the principal amount of this Class A-M Certificate (its "Certificate
Principal Balance") as of the Closing Date by the aggregate principal amount of
all the Class A-M Certificates (their "Class Principal Balance") as of the
Closing Date) in that certain beneficial ownership interest evidenced by all the
Class A-M Certificates in the Trust Fund created pursuant to a Pooling and
Servicing Agreement, dated as specified above (the "Agreement"), among Wachovia
Commercial Mortgage Securities, Inc. (herein called the "Depositor", which term
includes any successor entity under the Agreement), Wachovia Bank, National
Association (herein called the "Master Servicer", which term includes any
successor entity under the Agreement), LNR Partners, Inc. (herein called the
"Special Servicer", which term includes any successor entity under the
Agreement) and Wells Fargo Bank, N.A. (herein called the "Trustee", which term
includes any successor entity under the Agreement), a summary of certain of the
pertinent provisions of which is set forth hereafter. To the extent not defined
herein, the capitalized terms used herein have the respective meanings assigned
in the Agreement. This Certificate is issued under and is subject to the terms,
provisions and conditions of the Agreement, to which Agreement the Holder of
this Certificate by virtue of the acceptance hereof assents and by which such
Holder is bound.

               Pursuant to the terms of the Agreement, distributions will be
made on the fourth Business Day following the related Determination Date (each,
a "Distribution Date"). The Determination Date is the 11th day of each month or,
if such 11th day is not a Business Day, the Business Day immediately succeeding,
commencing in January 2007 (each, a "Determination Date"). Distributions will be
made commencing on the first Distribution Date specified above, to the Person in
whose name this Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such distribution
(the "Record Date"), in an amount equal to the product of the Percentage
Interest evidenced by this Certificate and the amount required to be distributed
to the Holders of the Class A-M Certificates on the applicable Distribution Date
pursuant to the Agreement. All distributions made under the Agreement on the
Class A-M Certificates will be made by Wells Fargo Bank, N.A., as paying agent
(the "Paying Agent"), by wire transfer of immediately available funds to the
account of the Person entitled thereto at a bank or other entity having
appropriate facilities therefor, if such Certificateholder shall have provided
the Paying Agent with wiring instructions no less than five Business Days prior
to the related Record Date (which wiring instructions may be in the form of a
standing order applicable to all subsequent distributions), or otherwise by
check mailed to the address of such Certificateholder as it appears in the
Certificate Register. Notwithstanding the foregoing, the final distribution on
this Certificate (determined without regard to any possible future reimbursement
of any Realized Loss or Additional Trust Fund Expense previously allocated to
this Certificate) will be made in like manner, but only upon presentation and
surrender of this Certificate at the offices of the Certificate Registrar or
such other location specified in the notice to the Holder hereof of such final
distribution. Also notwithstanding the foregoing, any distribution that may be
made with respect to this Certificate in reimbursement of any Realized Loss or
Additional Trust Fund Expense previously allocated to this Certificate, which
reimbursement is to occur after the date on which this Certificate is
surrendered as contemplated by the preceding sentence, will be made by check
mailed to the address of the Holder that surrenders this Certificate as such
address last appears in the Certificate Register or to any such other address of
which the Paying Agent is subsequently notified in writing.

               The Certificates are limited in right of distribution to certain
collections and recoveries respecting the Mortgage Loans and REO Loans, all as
more specifically set forth herein and in the Agreement. As provided in the
Agreement, withdrawals from the Certificate Account, the Distribution Account
and, if established, the REO Account may be made from time to time for purposes
other than, and, in certain cases, prior to, distributions to
Certificateholders, such purposes including the reimbursement of Advances made,
or certain expenses incurred, with respect to the Mortgage Loans and the payment
of interest on such Advances and expenses.

               Interest accrued on this Certificate during an Interest Accrual
Period, plus any unpaid interest shortfall with respect to this Certificate for
any prior Distribution Date, if any, will be payable on the related Distribution
Date to the extent provided in the Agreement. The "Interest Accrual Period" with
respect to any Distribution Date and with respect to the Class A-M Certificates
is the calendar month preceding the month in which such Distribution Date occurs
and is assumed to consist of 30 days.

               Any distribution to the Holder of this Certificate in reduction
of the Certificate Principal Balance hereof is binding on such Holder and all
future Holders of this Certificate and any Certificate issued upon the transfer
hereof or in exchange herefor or in lieu hereof whether or not notation of such
distribution is made upon this Certificate.

               The Class A-M Certificates are issuable in fully registered form
only without coupons in minimum denominations specified in the Agreement. As
provided in the Agreement and subject to certain limitations therein set forth,
the Class A-M Certificates are exchangeable for new Class A-M Certificates in
authorized denominations evidencing the same aggregate Percentage Interest, as
requested by the Holder surrendering the same.

               As provided in the Agreement and subject to certain limitations
therein set forth, the transfer of this Certificate is registrable in the
Certificate Register upon surrender of this Certificate for registration of
transfer at the offices of the Certificate Registrar, duly endorsed by, or
accompanied by a written instrument of transfer in the form satisfactory to the
Certificate Registrar duly executed by, the Holder hereof or his attorney duly
authorized in writing, and thereupon one or more new Class A-M Certificates in
authorized denominations evidencing the same aggregate Percentage Interest will
be issued to the designated transferee or transferees.

               No service charge will be imposed for any registration of
transfer or exchange of Class A-M Certificates, but the Certificate Registrar
may require payment of a sum sufficient to cover any tax or other governmental
charge that may be imposed in connection with any transfer or exchange of Class
A-M Certificates.

               Notwithstanding the foregoing, for so long as this Certificate is
registered in the name of Cede & Co. or in such other name as is requested by an
authorized representative of DTC, transfers of interests in this Certificate
shall be made through the book-entry facilities of DTC.

               The Depositor, the Master Servicer, the Special Servicer, the
Trustee, the Paying Agent and the Certificate Registrar and any agent of the
Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying
Agent or the Certificate Registrar may treat the Person in whose name this
Certificate is registered as the owner hereof for all purposes whatsoever and
none of the Depositor, the Master Servicer, the Special Servicer, the Trustee,
the Paying Agent, the Certificate Registrar or any such agent shall be affected
by notice to the contrary.

               The Trust Fund and the obligations created by the Agreement shall
terminate upon distribution (or provision for distribution) to the
Certificateholders of all amounts held by or on behalf of the Trustee and
required to be distributed to them pursuant to the Agreement following the
earlier to occur of (i) the final payment (or any advance with respect thereto)
or other liquidation of the last Mortgage Loan or REO Property remaining in the
Trust Fund, and (ii) the purchase by the Master Servicer, the Special Servicer
or the Majority Subordinate Certificateholder at a price determined as provided
in the Agreement of all Mortgage Loans and each REO Property remaining in the
Trust Fund. The Agreement permits, but does not require, the Master Servicer,
the Special Servicer or the Majority Subordinate Certificateholder to purchase
from the Trust Fund all Mortgage Loans and each REO Property remaining therein.
The exercise of such right will effect early retirement of the Class A-M
Certificates; however, such right to purchase is subject to the aggregate Stated
Principal Balance of the Mortgage Pool at the time of purchase being less than
1% of the aggregate Stated Principal Balance of the Mortgage Loans as of the
Cut-Off Date specified on the face hereof.

               In addition, any exchange by any Certificateholder of all of the
then outstanding Certificates (other than the Class Z, Class R-I and Class R-II
Certificates) for all of the Mortgage Loans and each REO Property remaining in
the Trust Fund may be made: (i) if the then outstanding Certificates (other than
the Class Z, Class R-I and Class R-II Certificates) are held by a single
Certificateholder and (ii) the Class A-1, Class A-2, Class A-3, Class A-PB,
Class A-4, Class A-1A, Class A-M, Class A-J, Class B, Class C, Class D and Class
E Certificates have been paid in full.

               The Agreement permits, with certain exceptions therein provided,
the amendment thereof and the modification of the rights and obligations of the
Depositor, the Master Servicer, the Special Servicer and the Trustee and the
rights of the Certificateholders under the Agreement at any time by the
Depositor, the Master Servicer, the Special Servicer and the Trustee with the
consent of the Holders of Certificates entitled to at least 51% of the Voting
Rights allocated to the affected Classes. Any such consent by the Holder of this
Certificate shall be conclusive and binding on such Holder and upon all future
Holders of this Certificate and of any Certificate issued upon the transfer
hereof or in exchange herefor or in lieu hereof whether or not notation of such
consent is made upon this Certificate. The Agreement also permits the amendment
thereof, in certain limited circumstances, including any amendment necessary to
maintain the status of the Trust Fund (or designated portions thereof) as
consisting of two separate REMICs and one grantor trust, without the consent of
the Holders of any of the Certificates.

               Unless the certificate of authentication hereon has been executed
by the Certificate Registrar, by manual signature, this Certificate shall not be
entitled to any benefit under the Agreement or be valid for any purpose.

               The registered Holder hereof, by its acceptance hereof, agrees
that it will look solely to the Trust Fund (to the extent of its rights therein)
for distributions hereunder.

               This Certificate shall be construed in accordance with the
internal laws of the State of New York applicable to agreements made and to be
performed in said State, and the obligations, rights and remedies of the Holder
hereof shall be determined in accordance with such laws.

<PAGE>

               IN WITNESS WHEREOF, the Certificate Registrar has caused this
Certificate to be duly executed.

Dated: December 21, 2006

                                          WELLS FARGO BANK, N.A., as Certificate
                                              Registrar

                                          By: __________________________________
                                              Authorized Representative

                          CERTIFICATE OF AUTHENTICATION

               This is one of the Class A-M Certificates referred to in the
within-mentioned Agreement.

                                          WELLS FARGO BANK, N.A., as
                                              Authenticating Agent

                                          By: __________________________________
                                              Authorized Representative

<PAGE>

                                   ASSIGNMENT

               FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and
transfer(s) unto ________________________________________________________
(please print or typewrite name and address including postal zip code of
assignee) the beneficial ownership interest in the Trust Fund evidenced by the
within Commercial Mortgage Pass-Through Certificate and hereby authorize(s) the
registration of transfer of such interest to assignee on the Certificate
Register of the Trust Fund.

               I (we) further direct the Certificate Registrar to issue a new
Commercial Mortgage Pass-Through Certificate of a like Percentage Interest and
Class to the above named assignee and deliver such Commercial Mortgage
Pass-Through Certificate to the following address:
_________________________________________________________________________.

Dated: _________________________

                                          ______________________________________
                                           Signature by or on behalf of Assignor

                                          ______________________________________
                                                  Signature Guaranteed

<PAGE>

                            DISTRIBUTION INSTRUCTIONS

               The Assignee should include the following for purposes of
distribution:

               Distributions shall, if permitted, be made by wire transfer or
otherwise, in immediately available funds, to _____________________________ for
the account of _______________.

               Distributions made by check (such check to be made payable to
_____________________) and all applicable statements and notices should be
mailed to _____________________________.

               This information is provided by ________________________________,
the Assignee named above, or ____________________________________, as its agent.

<PAGE>

                                   EXHIBIT A-9

                          FORM OF CLASS A-J CERTIFICATE

             CLASS A-J COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATE,
                                 SERIES 2006-C29

evidencing a beneficial ownership interest in a trust fund (the "Trust Fund")
consisting primarily of a pool of multifamily and commercial mortgage loans (the
"Mortgage Loans"), such pool being formed and sold by

                     WACHOVIA BANK COMMERCIAL MORTGAGE TRUST

Pass-Through Rate: [__]% per annum           Class Principal Balance of the
                                             Class A-J Certificates as of the
                                             Closing Date: $303,415,000

Date of Pooling and Servicing Agreement:     Initial Certificate Principal
as of December 1, 2006                       Balance of this Class A-J
                                             Certificate as of the Closing Date:
                                             $303,415,000

Closing Date: December 21, 2006              Aggregate Stated Principal Balance
                                             of the Mortgage Loans as of the
                                             Cut-Off Date: $3,371,274,173

First Distribution Date: January 18, 2007

Master Servicer: Wachovia Bank, National     Trustee: Wells Fargo Bank, N.A.
Association

Special Servicer: LNR Partners, Inc.

Certificate No. A-J-1                        CUSIP No. [_]

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST CORPORATION, A NEW YORK CORPORATION ("DTC"), TO THE DEPOSITOR,
THE MASTER SERVICER, THE TRUSTEE, THE CERTIFICATE REGISTRAR OR ANY AGENT THEREOF
FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED
IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO
SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY
TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON
IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
HEREIN.

THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN WACHOVIA
COMMERCIAL MORTGAGE SECURITIES, INC., WELLS FARGO BANK, N.A., LNR PARTNERS,
INC., WACHOVIA BANK, NATIONAL ASSOCIATION OR ANY OF THEIR RESPECTIVE AFFILIATES.
NEITHER THIS CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS ARE GUARANTEED BY ANY
AGENCY OR INSTRUMENTALITY OF THE UNITED STATES OR ANY OTHER PERSON.

SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE IS A "REGULAR
INTEREST" IN A "REAL ESTATE MORTGAGE INVESTMENT CONDUIT" (A "REMIC") AS THOSE
TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL
REVENUE CODE OF 1986 (THE "CODE").

THIS CERTIFICATE IS SUBORDINATE TO THE CLASS A-1 CERTIFICATES, THE CLASS A-2
CERTIFICATES, THE CLASS A-3 CERTIFICATES, THE CLASS A-PB CERTIFICATES, THE CLASS
A-4 CERTIFICATES, THE CLASS A-1A CERTIFICATES AND THE CLASS A-M CERTIFICATES OF
THE SAME SERIES TO THE EXTENT DESCRIBED IN THE AGREEMENT REFERRED TO HEREIN.

IF THE AGGREGATE CERTIFICATE PRINCIPAL BALANCE OF THE CLASS A-1 CERTIFICATES,
THE CLASS A-2 CERTIFICATES, THE CLASS A-3 CERTIFICATES, THE CLASS A-PB
CERTIFICATES, THE CLASS A-4 CERTIFICATES, THE CLASS A-1A CERTIFICATES AND THE
CLASS A-M CERTIFICATES OF THE SAME SERIES IS REDUCED TO ZERO, DISTRIBUTIONS IN
REDUCTION OF THE CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE MAY BE MADE
MONTHLY AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.
IN ADDITION, IF THE AGGREGATE CERTIFICATE PRINCIPAL BALANCE OF THE CLASS B,
CLASS C, CLASS D, CLASS E, CLASS F, CLASS G, CLASS H, CLASS J, CLASS K, CLASS L,
CLASS M, CLASS N, CLASS O, CLASS P AND CLASS Q CERTIFICATES OF THE SAME SERIES
IS REDUCED TO ZERO, THE CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE MAY BE
REDUCED BY CERTAIN LOSSES AND EXPENSES EXPERIENCED BY THE TRUST FUND AS SET
FORTH IN THE AGREEMENT REFERRED TO HEREIN. ACCORDINGLY, THE OUTSTANDING
CERTIFICATE PRINCIPAL BALANCE HEREOF AT ANY TIME MAY BE LESS THAN THE AMOUNT
SHOWN ABOVE.

               This certifies that Cede & Co. is the registered owner of the
Percentage Interest evidenced by this Class A-J Certificate (obtained by
dividing the principal amount of this Class A-J Certificate (its "Certificate
Principal Balance") as of the Closing Date by the aggregate principal amount of
all the Class A-J Certificates (their "Class Principal Balance") as of the
Closing Date) in that certain beneficial ownership interest evidenced by all the
Class A-J Certificates in the Trust Fund created pursuant to a Pooling and
Servicing Agreement, dated as specified above (the "Agreement"), among Wachovia
Commercial Mortgage Securities, Inc. (herein called the "Depositor", which term
includes any successor entity under the Agreement), Wachovia Bank, National
Association (herein called the "Master Servicer", which term includes any
successor entity under the Agreement), LNR Partners, Inc. (herein called the
"Special Servicer", which term includes any successor entity under the
Agreement) and Wells Fargo Bank, N.A. (herein called the "Trustee", which term
includes any successor entity under the Agreement), a summary of certain of the
pertinent provisions of which is set forth hereafter. To the extent not defined
herein, the capitalized terms used herein have the respective meanings assigned
in the Agreement. This Certificate is issued under and is subject to the terms,
provisions and conditions of the Agreement, to which Agreement the Holder of
this Certificate by virtue of the acceptance hereof assents and by which such
Holder is bound.

               Pursuant to the terms of the Agreement, distributions will be
made on the fourth Business Day following the related Determination Date (each,
a "Distribution Date"). The Determination Date is the 11th day of each month or,
if such 11th day is not a Business Day, the Business Day immediately succeeding,
commencing in January 2007 (each, a "Determination Date"). Distributions will be
made commencing on the first Distribution Date specified above, to the Person in
whose name this Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such distribution
(the "Record Date"), in an amount equal to the product of the Percentage
Interest evidenced by this Certificate and the amount required to be distributed
to the Holders of the Class A-J Certificates on the applicable Distribution Date
pursuant to the Agreement. All distributions made under the Agreement on the
Class A-J Certificates will be made by Wells Fargo Bank, N.A., as paying agent
(the "Paying Agent"), by wire transfer of immediately available funds to the
account of the Person entitled thereto at a bank or other entity having
appropriate facilities therefor, if such Certificateholder shall have provided
the Paying Agent with wiring instructions no less than five Business Days prior
to the related Record Date (which wiring instructions may be in the form of a
standing order applicable to all subsequent distributions), or otherwise by
check mailed to the address of such Certificateholder as it appears in the
Certificate Register. Notwithstanding the foregoing, the final distribution on
this Certificate (determined without regard to any possible future reimbursement
of any Realized Loss or Additional Trust Fund Expense previously allocated to
this Certificate) will be made in like manner, but only upon presentation and
surrender of this Certificate at the offices of the Certificate Registrar or
such other location specified in the notice to the Holder hereof of such final
distribution. Also notwithstanding the foregoing, any distribution that may be
made with respect to this Certificate in reimbursement of any Realized Loss or
Additional Trust Fund Expense previously allocated to this Certificate, which
reimbursement is to occur after the date on which this Certificate is
surrendered as contemplated by the preceding sentence, will be made by check
mailed to the address of the Holder that surrenders this Certificate as such
address last appears in the Certificate Register or to any such other address of
which the Paying Agent is subsequently notified in writing.

               The Certificates are limited in right of distribution to certain
collections and recoveries respecting the Mortgage Loans and REO Loans, all as
more specifically set forth herein and in the Agreement. As provided in the
Agreement, withdrawals from the Certificate Account, the Distribution Account
and, if established, the REO Account may be made from time to time for purposes
other than, and, in certain cases, prior to, distributions to
Certificateholders, such purposes including the reimbursement of Advances made,
or certain expenses incurred, with respect to the Mortgage Loans and the payment
of interest on such Advances and expenses.

               Interest accrued on this Certificate during an Interest Accrual
Period, plus any unpaid interest shortfall with respect to this Certificate for
any prior Distribution Date, if any, will be payable on the related Distribution
Date to the extent provided in the Agreement. The "Interest Accrual Period" with
respect to any Distribution Date and with respect to the Class A-J Certificates
is the calendar month preceding the month in which such Distribution Date occurs
and is assumed to consist of 30 days.

               Any distribution to the Holder of this Certificate in reduction
of the Certificate Principal Balance hereof is binding on such Holder and all
future Holders of this Certificate and any Certificate issued upon the transfer
hereof or in exchange herefor or in lieu hereof whether or not notation of such
distribution is made upon this Certificate.

               The Class A-J Certificates are issuable in fully registered form
only without coupons in minimum denominations specified in the Agreement. As
provided in the Agreement and subject to certain limitations therein set forth,
the Class A-J Certificates are exchangeable for new Class A-J Certificates in
authorized denominations evidencing the same aggregate Percentage Interest, as
requested by the Holder surrendering the same.

               As provided in the Agreement and subject to certain limitations
therein set forth, the transfer of this Certificate is registrable in the
Certificate Register upon surrender of this Certificate for registration of
transfer at the offices of the Certificate Registrar, duly endorsed by, or
accompanied by a written instrument of transfer in the form satisfactory to the
Certificate Registrar duly executed by, the Holder hereof or his attorney duly
authorized in writing, and thereupon one or more new Class A-J Certificates in
authorized denominations evidencing the same aggregate Percentage Interest will
be issued to the designated transferee or transferees.

               No service charge will be imposed for any registration of
transfer or exchange of Class A-J Certificates, but the Certificate Registrar
may require payment of a sum sufficient to cover any tax or other governmental
charge that may be imposed in connection with any transfer or exchange of Class
A-J Certificates.

               Notwithstanding the foregoing, for so long as this Certificate is
registered in the name of Cede & Co. or in such other name as is requested by an
authorized representative of DTC, transfers of interests in this Certificate
shall be made through the book-entry facilities of DTC.

               The Depositor, the Master Servicer, the Special Servicer, the
Trustee, the Paying Agent and the Certificate Registrar and any agent of the
Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying
Agent or the Certificate Registrar may treat the Person in whose name this
Certificate is registered as the owner hereof for all purposes whatsoever and
none of the Depositor, the Master Servicer, the Special Servicer, the Trustee,
the Paying Agent, the Certificate Registrar or any such agent shall be affected
by notice to the contrary.

               The Trust Fund and the obligations created by the Agreement shall
terminate upon distribution (or provision for distribution) to the
Certificateholders of all amounts held by or on behalf of the Trustee and
required to be distributed to them pursuant to the Agreement following the
earlier to occur of (i) the final payment (or any advance with respect thereto)
or other liquidation of the last Mortgage Loan or REO Property remaining in the
Trust Fund, and (ii) the purchase by the Master Servicer, the Special Servicer
or the Majority Subordinate Certificateholder at a price determined as provided
in the Agreement of all Mortgage Loans and each REO Property remaining in the
Trust Fund. The Agreement permits, but does not require, the Master Servicer,
the Special Servicer or the Majority Subordinate Certificateholder to purchase
from the Trust Fund all Mortgage Loans and each REO Property remaining therein.
The exercise of such right will effect early retirement of the Class A-J
Certificates; however, such right to purchase is subject to the aggregate Stated
Principal Balance of the Mortgage Pool at the time of purchase being less than
1% of the aggregate Stated Principal Balance of the Mortgage Loans as of the
Cut-Off Date specified on the face hereof.

               In addition, any exchange by any Certificateholder of all of the
then outstanding Certificates (other than the Class Z, Class R-I and Class R-II
Certificates) for all of the Mortgage Loans and each REO Property remaining in
the Trust Fund may be made: (i) if the then outstanding Certificates (other than
the Class Z, Class R-I and Class R-II Certificates) are held by a single
Certificateholder and (ii) the Class A-1, Class A-2, Class A-3, Class A-PB,
Class A-4, Class A-1A, Class A-M, Class A-J, Class B, Class C, Class D and Class
E Certificates have been paid in full.

               The Agreement permits, with certain exceptions therein provided,
the amendment thereof and the modification of the rights and obligations of the
Depositor, the Master Servicer, the Special Servicer and the Trustee and the
rights of the Certificateholders under the Agreement at any time by the
Depositor, the Master Servicer, the Special Servicer and the Trustee with the
consent of the Holders of Certificates entitled to at least 51% of the Voting
Rights allocated to the affected Classes. Any such consent by the Holder of this
Certificate shall be conclusive and binding on such Holder and upon all future
Holders of this Certificate and of any Certificate issued upon the transfer
hereof or in exchange herefor or in lieu hereof whether or not notation of such
consent is made upon this Certificate. The Agreement also permits the amendment
thereof, in certain limited circumstances, including any amendment necessary to
maintain the status of the Trust Fund (or designated portions thereof) as
consisting of two separate REMICs and one grantor trust, without the consent of
the Holders of any of the Certificates.

               Unless the certificate of authentication hereon has been executed
by the Certificate Registrar, by manual signature, this Certificate shall not be
entitled to any benefit under the Agreement or be valid for any purpose.

               The registered Holder hereof, by its acceptance hereof, agrees
that it will look solely to the Trust Fund (to the extent of its rights therein)
for distributions hereunder.

               This Certificate shall be construed in accordance with the
internal laws of the State of New York applicable to agreements made and to be
performed in said State, and the obligations, rights and remedies of the Holder
hereof shall be determined in accordance with such laws.

<PAGE>

               IN WITNESS WHEREOF, the Certificate Registrar has caused this
Certificate to be duly executed.

Dated: December 21, 2006

                                          WELLS FARGO BANK, N.A., as Certificate
                                              Registrar

                                          By: __________________________________
                                              Authorized Representative

                          CERTIFICATE OF AUTHENTICATION

               This is one of the Class A-J Certificates referred to in the
within-mentioned Agreement.

                                          WELLS FARGO BANK, N.A., as
                                              Authenticating Agent

                                          By: __________________________________
                                              Authorized Representative

<PAGE>

                                   ASSIGNMENT

               FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and
transfer(s) unto ________________________________________________________
(please print or typewrite name and address including postal zip code of
assignee) the beneficial ownership interest in the Trust Fund evidenced by the
within Commercial Mortgage Pass-Through Certificate and hereby authorize(s) the
registration of transfer of such interest to assignee on the Certificate
Register of the Trust Fund.

               I (we) further direct the Certificate Registrar to issue a new
Commercial Mortgage Pass-Through Certificate of a like Percentage Interest and
Class to the above named assignee and deliver such Commercial Mortgage
Pass-Through Certificate to the following address:
_________________________________________________________________________.

Dated: _________________________

                                          ______________________________________
                                           Signature by or on behalf of Assignor

                                          ______________________________________
                                                  Signature Guaranteed

<PAGE>

                            DISTRIBUTION INSTRUCTIONS

               The Assignee should include the following for purposes of
distribution:

               Distributions shall, if permitted, be made by wire transfer or
otherwise, in immediately available funds, to _____________________________ for
the account of _______________.

               Distributions made by check (such check to be made payable to
_____________________) and all applicable statements and notices should be
mailed to _____________________________.

               This information is provided by ________________________________,
the Assignee named above, or ____________________________________, as its agent.

<PAGE>

                                  EXHIBIT A-10

                           FORM OF CLASS B CERTIFICATE

              CLASS B COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATE,
                                 SERIES 2006-C29

evidencing a beneficial ownership interest in a trust fund (the "Trust Fund")
consisting primarily of a pool of multifamily and commercial mortgage loans (the
"Mortgage Loans"), such pool being formed and sold by

                     WACHOVIA BANK COMMERCIAL MORTGAGE TRUST

Pass-Through Rate: [__]% per annum           Class Principal Balance of the
                                             Class B Certificates as of the
                                             Closing Date: $25,284,000

Date of Pooling and Servicing Agreement:     Initial Certificate Principal
as of December 1, 2006                       Balance of this Class B Certificate
                                             as of the Closing Date: $25,284,000

Closing Date: December 21, 2006              Aggregate Stated Principal Balance
                                             of the Mortgage Loans as of the
                                             Cut-Off Date: $3,371,274,173

First Distribution Date: January 18, 2007

Master Servicer: Wachovia Bank, National     Trustee: Wells Fargo Bank, N.A.
Association

Special Servicer: LNR Partners, Inc.

Certificate No. B-1                          CUSIP No. [_]

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST CORPORATION, A NEW YORK CORPORATION ("DTC"), TO THE DEPOSITOR,
THE MASTER SERVICER, THE TRUSTEE, THE CERTIFICATE REGISTRAR OR ANY AGENT THEREOF
FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED
IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO
SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY
TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON
IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
HEREIN.

THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN WACHOVIA
COMMERCIAL MORTGAGE SECURITIES, INC., WELLS FARGO BANK, N.A., LNR PARTNERS,
INC., WACHOVIA BANK, NATIONAL ASSOCIATION OR ANY OF THEIR RESPECTIVE AFFILIATES.
NEITHER THIS CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS ARE GUARANTEED BY ANY
AGENCY OR INSTRUMENTALITY OF THE UNITED STATES OR ANY OTHER PERSON.

SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE IS A "REGULAR
INTEREST" IN A "REAL ESTATE MORTGAGE INVESTMENT CONDUIT" (A "REMIC") AS THOSE
TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL
REVENUE CODE OF 1986 (THE "CODE").

THIS CERTIFICATE IS SUBORDINATE TO THE CLASS A-1 CERTIFICATES, THE CLASS A-2
CERTIFICATES, THE CLASS A-3 CERTIFICATES, THE CLASS A-PB CERTIFICATES, THE CLASS
A-4 CERTIFICATES, THE CLASS A-1A CERTIFICATES, THE CLASS A-M CERTIFICATES AND
THE CLASS A-J CERTIFICATES OF THE SAME SERIES TO THE EXTENT DESCRIBED IN THE
AGREEMENT REFERRED TO HEREIN.

IF THE AGGREGATE CERTIFICATE PRINCIPAL BALANCE OF THE CLASS A-1 CERTIFICATES,
THE CLASS A-2 CERTIFICATES, THE CLASS A-3 CERTIFICATES, THE CLASS A-PB
CERTIFICATES, THE CLASS A-4 CERTIFICATES, THE CLASS A-1A CERTIFICATES, THE CLASS
A-M CERTIFICATES AND THE CLASS A-J CERTIFICATES OF THE SAME SERIES IS REDUCED TO
ZERO, DISTRIBUTIONS IN REDUCTION OF THE CERTIFICATE PRINCIPAL BALANCE OF THIS
CERTIFICATE MAY BE MADE MONTHLY AS SET FORTH IN THE POOLING AND SERVICING
AGREEMENT REFERRED TO HEREIN. IN ADDITION, IF THE AGGREGATE CERTIFICATE
PRINCIPAL BALANCE OF THE CLASS C, CLASS D, CLASS E, CLASS F, CLASS G, CLASS H,
CLASS J, CLASS K, CLASS L, CLASS M, CLASS N, CLASS O, CLASS P AND CLASS Q
CERTIFICATES OF THE SAME SERIES IS REDUCED TO ZERO, THE CERTIFICATE PRINCIPAL
BALANCE OF THIS CERTIFICATE MAY BE REDUCED BY CERTAIN LOSSES AND EXPENSES
EXPERIENCED BY THE TRUST FUND AS SET FORTH IN THE AGREEMENT REFERRED TO HEREIN.
ACCORDINGLY, THE OUTSTANDING CERTIFICATE PRINCIPAL BALANCE HEREOF AT ANY TIME
MAY BE LESS THAN THE AMOUNT SHOWN ABOVE.

               This certifies that Cede & Co. is the registered owner of the
Percentage Interest evidenced by this Class B Certificate (obtained by dividing
the principal amount of this Class B Certificate (its "Certificate Principal
Balance") as of the Closing Date by the aggregate principal amount of all the
Class B Certificates (their "Class Principal Balance") as of the Closing Date in
that certain beneficial ownership interest evidenced by all the Class B
Certificates in the Trust Fund created pursuant to a Pooling and Servicing
Agreement, dated as specified above (the "Agreement"), among Wachovia Commercial
Mortgage Securities, Inc. (herein called the "Depositor", which term includes
any successor entity under the Agreement), Wachovia Bank, National Association
(herein called the "Master Servicer", which term includes any successor entity
under the Agreement), LNR Partners, Inc. (herein called the "Special Servicer",
which term includes any successor entity under the Agreement) and Wells Fargo
Bank, N.A. (herein called the "Trustee", which term includes any successor
entity under the Agreement), a summary of certain of the pertinent provisions of
which is set forth hereafter. To the extent not defined herein, the capitalized
terms used herein have the respective meanings assigned in the Agreement. This
Certificate is issued under and is subject to the terms, provisions and
conditions of the Agreement, to which Agreement the Holder of this Certificate
by virtue of the acceptance hereof assents and by which such Holder is bound.

               Pursuant to the terms of the Agreement, distributions will be
made on the fourth Business Day following the related Determination Date (each,
a "Distribution Date"). The Determination Date is the 11th day of each month or,
if such 11th day is not a Business Day, the Business Day immediately succeeding,
commencing in January 2007 (each, a "Determination Date"). Distributions will be
made commencing on the first Distribution Date specified above, to the Person in
whose name this Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such distribution
(the "Record Date"), in an amount equal to the product of the Percentage
Interest evidenced by this Certificate and the amount required to be distributed
to the Holders of the Class B Certificates on the applicable Distribution Date
pursuant to the Agreement. All distributions made under the Agreement on the
Class B Certificates will be made by Wells Fargo Bank, N.A., as paying agent
(the "Paying Agent"), by wire transfer of immediately available funds to the
account of the Person entitled thereto at a bank or other entity having
appropriate facilities therefor, if such Certificateholder shall have provided
the Paying Agent with wiring instructions no less than five Business Days prior
to the related Record Date (which wiring instructions may be in the form of a
standing order applicable to all subsequent distributions), or otherwise by
check mailed to the address of such Certificateholder as it appears in the
Certificate Register. Notwithstanding the foregoing, the final distribution on
this Certificate (determined without regard to any possible future reimbursement
of any Realized Loss or Additional Trust Fund Expense previously allocated to
this Certificate) will be made in like manner, but only upon presentation and
surrender of this Certificate at the offices of the Certificate Registrar or
such other location specified in the notice to the Holder hereof of such final
distribution. Also notwithstanding the foregoing, any distribution that may be
made with respect to this Certificate in reimbursement of any Realized Loss or
Additional Trust Fund Expense previously allocated to this Certificate, which
reimbursement is to occur after the date on which this Certificate is
surrendered as contemplated by the preceding sentence, will be made by check
mailed to the address of the Holder that surrenders this Certificate as such
address last appears in the Certificate Register or to any such other address of
which the Paying Agent is subsequently notified in writing.

               The Certificates are limited in right of distribution to certain
collections and recoveries respecting the Mortgage Loans and REO Loans, all as
more specifically set forth herein and in the Agreement. As provided in the
Agreement, withdrawals from the Certificate Account, the Distribution Account
and, if established, the REO Account may be made from time to time for purposes
other than, and, in certain cases, prior to, distributions to
Certificateholders, such purposes including the reimbursement of Advances made,
or certain expenses incurred, with respect to the Mortgage Loans and the payment
of interest on such Advances and expenses.

               Interest accrued on this Certificate during an Interest Accrual
Period, plus any unpaid interest shortfall with respect to this Certificate for
any prior Distribution Date, if any, will be payable on the related Distribution
Date to the extent provided in the Agreement. The "Interest Accrual Period" with
respect to any Distribution Date and with respect to the Class B Certificates is
the calendar month preceding the month in which such Distribution Date occurs
and is assumed to consist of 30 days.

               Any distribution to the Holder of this Certificate in reduction
of the Certificate Principal Balance hereof is binding on such Holder and all
future Holders of this Certificate and any Certificate issued upon the transfer
hereof or in exchange herefor or in lieu hereof whether or not notation of such
distribution is made upon this Certificate.

               The Class B Certificates are issuable in fully registered form
only without coupons in minimum denominations specified in the Agreement. As
provided in the Agreement and subject to certain limitations therein set forth,
the Class B Certificates are exchangeable for new Class B Certificates in
authorized denominations evidencing the same aggregate Percentage Interest, as
requested by the Holder surrendering the same.

               As provided in the Agreement and subject to certain limitations
therein set forth, the transfer of this Certificate is registrable in the
Certificate Register upon surrender of this Certificate for registration of
transfer at the offices of the Certificate Registrar, duly endorsed by, or
accompanied by a written instrument of transfer in the form satisfactory to the
Certificate Registrar duly executed by, the Holder hereof or his attorney duly
authorized in writing, and thereupon one or more new Class B Certificates in
authorized denominations evidencing the same aggregate Percentage Interest will
be issued to the designated transferee or transferees.

               No service charge will be imposed for any registration of
transfer or exchange of Class B Certificates, but the Certificate Registrar may
require payment of a sum sufficient to cover any tax or other governmental
charge that may be imposed in connection with any transfer or exchange of Class
B Certificates.

               Notwithstanding the foregoing, for so long as this Certificate is
registered in the name of Cede & Co. or in such other name as is requested by an
authorized representative of DTC, transfers of interests in this Certificate
shall be made through the book-entry facilities of DTC.

               The Depositor, the Master Servicer, the Special Servicer, the
Trustee, the Paying Agent and the Certificate Registrar and any agent of the
Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying
Agent or the Certificate Registrar may treat the Person in whose name this
Certificate is registered as the owner hereof for all purposes whatsoever and
none of the Depositor, the Master Servicer, the Special Servicer, the Trustee,
the Paying Agent, the Certificate Registrar, or any such agent shall be affected
by notice to the contrary.

               The Trust Fund and the obligations created by the Agreement shall
terminate upon distribution (or provision for distribution) to the
Certificateholders of all amounts held by or on behalf of the Trustee and
required to be distributed to them pursuant to the Agreement following the
earlier to occur of (i) the final payment (or any advance with respect thereto)
or other liquidation of the last Mortgage Loan or REO Property remaining in the
Trust Fund, and (ii) the purchase by the Master Servicer, the Special Servicer
or the Majority Subordinate Certificateholder at a price determined as provided
in the Agreement of all Mortgage Loans and each REO Property remaining in the
Trust Fund. The Agreement permits, but does not require, the Master Servicer,
the Special Servicer or the Majority Subordinate Certificateholder to purchase
from the Trust Fund all Mortgage Loans and each REO Property remaining therein.
The exercise of such right will effect early retirement of the Class B
Certificates; however, such right to purchase is subject to the aggregate Stated
Principal Balance of the Mortgage Pool at the time of purchase being less than
1% of the aggregate Stated Principal Balance of the Mortgage Loans as of the
Cut-Off Date specified on the face hereof.

               In addition, any exchange by any Certificateholder of all of the
then outstanding Certificates (other than the Class Z, Class R-I and Class R-II
Certificates) for all of the Mortgage Loans and each REO Property remaining in
the Trust Fund may be made: (i) if the then outstanding Certificates (other than
the Class Z, Class R-I and Class R-II Certificates) are held by a single
Certificateholder and (ii) the Class A-1, Class A-2, Class A-3, Class A-PB,
Class A-4, Class A-1A, Class A-M, Class A-J, Class B, Class C, Class D and Class
E Certificates have been paid in full.

               The Agreement permits, with certain exceptions therein provided,
the amendment thereof and the modification of the rights and obligations of the
Depositor, the Master Servicer, the Special Servicer and the Trustee and the
rights of the Certificateholders under the Agreement at any time by the
Depositor, the Master Servicer, the Special Servicer and the Trustee with the
consent of the Holders of Certificates entitled to at least 51% of the Voting
Rights allocated to the affected Classes. Any such consent by the Holder of this
Certificate shall be conclusive and binding on such Holder and upon all future
Holders of this Certificate and of any Certificate issued upon the transfer
hereof or in exchange herefor or in lieu hereof whether or not notation of such
consent is made upon this Certificate. The Agreement also permits the amendment
thereof, in certain limited circumstances, including any amendment necessary to
maintain the status of the Trust Fund (or designated portions thereof) as
consisting of two separate REMICs and one grantor trust, without the consent of
the Holders of any of the Certificates.

               Unless the certificate of authentication hereon has been executed
by the Certificate Registrar, by manual signature, this Certificate shall not be
entitled to any benefit under the Agreement or be valid for any purpose.

               The registered Holder hereof, by its acceptance hereof, agrees
that it will look solely to the Trust Fund (to the extent of its rights therein)
for distributions hereunder.

               This Certificate shall be construed in accordance with the
internal laws of the State of New York applicable to agreements made and to be
performed in said State, and the obligations, rights and remedies of the Holder
hereof shall be determined in accordance with such laws.

<PAGE>

               IN WITNESS WHEREOF, the Certificate Registrar has caused this
Certificate to be duly executed.

Dated: December 21, 2006

                                          WELLS FARGO BANK, N.A., as Certificate
                                              Registrar

                                          By: __________________________________
                                              Authorized Representative

                          CERTIFICATE OF AUTHENTICATION

               This is one of the Class B Certificates referred to in the
within-mentioned Agreement.

                                          WELLS FARGO BANK, N.A., as
                                              Authenticating Agent

                                          By: __________________________________
                                              Authorized Representative

<PAGE>

                                   ASSIGNMENT

               FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and
transfer(s) unto ________________________________________________________
(please print or typewrite name and address including postal zip code of
assignee) the beneficial ownership interest in the Trust Fund evidenced by the
within Commercial Mortgage Pass-Through Certificate and hereby authorize(s) the
registration of transfer of such interest to assignee on the Certificate
Register of the Trust Fund.

               I (we) further direct the Certificate Registrar to issue a new
Commercial Mortgage Pass-Through Certificate of a like Percentage Interest and
Class to the above named assignee and deliver such Commercial Mortgage
Pass-Through Certificate to the following address:
_________________________________________________________________________.

Dated: _________________________

                                          ______________________________________
                                           Signature by or on behalf of Assignor

                                          ______________________________________
                                                  Signature Guaranteed

<PAGE>

                            DISTRIBUTION INSTRUCTIONS

               The Assignee should include the following for purposes of
distribution:

               Distributions shall, if permitted, be made by wire transfer or
otherwise, in immediately available funds, to _____________________________ for
the account of _______________.

               Distributions made by check (such check to be made payable to
_____________________) and all applicable statements and notices should be
mailed to _____________________________.

               This information is provided by ________________________________,
the Assignee named above, or ____________________________________, as its agent.

<PAGE>

                                  EXHIBIT A-11

                           FORM OF CLASS C CERTIFICATE

              CLASS C COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATE,
                                 SERIES 2006-C29

evidencing a beneficial ownership interest in a trust fund (the "Trust Fund")
consisting primarily of a pool of multifamily and commercial mortgage loans (the
"Mortgage Loans"), such pool being formed and sold by

                     WACHOVIA BANK COMMERCIAL MORTGAGE TRUST

Pass-Through Rate: Variable                  Class Principal Balance of the
                                             Class C Certificates as of the
                                             Closing Date: $33,713,000

Date of Pooling and Servicing Agreement:     Initial Certificate Principal
as of December 1, 2006                       Balance of this Class C Certificate
                                             as of the Closing Date: $33,713,000

Closing Date: December 21, 2006              Aggregate Stated Principal Balance
                                             of the Mortgage Loans as of the
                                             Cut-Off Date: $3,371,274,173

First Distribution Date: January 18, 2007

Master Servicer: Wachovia Bank, National     Trustee: Wells Fargo Bank, N.A.
Association

Special Servicer: LNR Partners, Inc.

Certificate No. C-1                          CUSIP No. [_]

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST CORPORATION, A NEW YORK CORPORATION ("DTC"), TO THE DEPOSITOR,
THE MASTER SERVICER, THE TRUSTEE, THE CERTIFICATE REGISTRAR OR ANY AGENT THEREOF
FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED
IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO
SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY
TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON
IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
HEREIN.

THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN WACHOVIA
COMMERCIAL MORTGAGE SECURITIES, INC., WELLS FARGO BANK, N.A., LNR PARTNERS,
INC., WACHOVIA BANK, NATIONAL ASSOCIATION OR ANY OF THEIR RESPECTIVE AFFILIATES.
NEITHER THIS CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS ARE GUARANTEED BY ANY
AGENCY OR INSTRUMENTALITY OF THE UNITED STATES OR ANY OTHER PERSON.

SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE IS A "REGULAR
INTEREST" IN A "REAL ESTATE MORTGAGE INVESTMENT CONDUIT" (A "REMIC") AS THOSE
TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL
REVENUE CODE OF 1986 (THE "CODE").

THIS CERTIFICATE IS SUBORDINATE TO THE CLASS A-1 CERTIFICATES, THE CLASS A-2
CERTIFICATES, THE CLASS A-3 CERTIFICATES, THE CLASS A-PB CERTIFICATES, THE CLASS
A-4 CERTIFICATES, THE CLASS A-1A CERTIFICATES, THE CLASS A-M CERTIFICATES, THE
CLASS A-J CERTIFICATES AND THE CLASS B CERTIFICATES OF THE SAME SERIES TO THE
EXTENT DESCRIBED IN THE AGREEMENT REFERRED TO HEREIN.

IF THE AGGREGATE CERTIFICATE PRINCIPAL BALANCE OF THE CLASS A-1 CERTIFICATES,
THE CLASS A-2 CERTIFICATES, THE CLASS A-3 CERTIFICATES, THE CLASS A-PB
CERTIFICATES, THE CLASS A-4 CERTIFICATES, THE CLASS A-1A CERTIFICATES, THE CLASS
A-M CERTIFICATES, THE CLASS A-J CERTIFICATES AND THE CLASS B CERTIFICATES OF THE
SAME SERIES IS REDUCED TO ZERO, DISTRIBUTIONS IN REDUCTION OF THE CERTIFICATE
PRINCIPAL BALANCE OF THIS CERTIFICATE MAY BE MADE MONTHLY AS SET FORTH IN THE
POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN. IN ADDITION, IF THE
AGGREGATE CERTIFICATE PRINCIPAL BALANCE OF THE CLASS D, CLASS E, CLASS F, CLASS
G, CLASS H, CLASS J, CLASS K, CLASS L, CLASS M, CLASS N, CLASS O, CLASS P AND
CLASS Q CERTIFICATES OF THE SAME SERIES IS REDUCED TO ZERO, THE CERTIFICATE
PRINCIPAL BALANCE OF THIS CERTIFICATE MAY BE REDUCED BY CERTAIN LOSSES AND
EXPENSES EXPERIENCED BY THE TRUST FUND AS SET FORTH IN THE AGREEMENT REFERRED TO
HEREIN. ACCORDINGLY, THE OUTSTANDING CERTIFICATE PRINCIPAL BALANCE HEREOF AT ANY
TIME MAY BE LESS THAN THE AMOUNT SHOWN ABOVE.

               This certifies that Cede & Co. is the registered owner of the
Percentage Interest evidenced by this Class C Certificate (obtained by dividing
the principal amount of this Class C Certificate (its "Certificate Principal
Balance") as of the Closing Date by the aggregate principal amount of all the
Class C Certificates (their "Class Principal Balance") as of the Closing Date)
in that certain beneficial ownership interest evidenced by all the Class C
Certificates in the Trust Fund created pursuant to a Pooling and Servicing
Agreement, dated as specified above (the "Agreement"), among Wachovia Commercial
Mortgage Securities, Inc. (herein called the "Depositor", which term includes
any successor entity under the Agreement), Wachovia Bank, National Association
(herein called the "Master Servicer", which term includes any successor entity
under the Agreement), LNR Partners, Inc. (herein called the "Special Servicer",
which term includes any successor entity under the Agreement) and Wells Fargo
Bank, N.A. (herein called the "Trustee", which term includes any successor
entity under the Agreement), a summary of certain of the pertinent provisions of
which is set forth hereafter. To the extent not defined herein, the capitalized
terms used herein have the respective meanings assigned in the Agreement. This
Certificate is issued under and is subject to the terms, provisions and
conditions of the Agreement, to which Agreement the Holder of this Certificate
by virtue of the acceptance hereof assents and by which such Holder is bound.

               Pursuant to the terms of the Agreement, distributions will be
made on the fourth Business Day following the related Determination Date (each,
a "Distribution Date"). The Determination Date is the 11th day of each month or,
if such 11th day is not a Business Day, the Business Day immediately succeeding,
commencing in January 2007 (each, a "Determination Date"). Distributions will be
made commencing on the first Distribution Date specified above, to the Person in
whose name this Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such distribution
(the "Record Date"), in an amount equal to the product of the Percentage
Interest evidenced by this Certificate and the amount required to be distributed
to the Holders of the Class C Certificates on the applicable Distribution Date
pursuant to the Agreement. All distributions made under the Agreement on the
Class C Certificates will be made by Wells Fargo Bank, N.A., as paying agent
(the "Paying Agent"), by wire transfer of immediately available funds to the
account of the Person entitled thereto at a bank or other entity having
appropriate facilities therefor, if such Certificateholder shall have provided
the Paying Agent with wiring instructions no less than five Business Days prior
to the related Record Date (which wiring instructions may be in the form of a
standing order applicable to all subsequent distributions), or otherwise by
check mailed to the address of such Certificateholder as it appears in the
Certificate Register. Notwithstanding the foregoing, the final distribution on
this Certificate (determined without regard to any possible future reimbursement
of any Realized Loss or Additional Trust Fund Expense previously allocated to
this Certificate) will be made in like manner, but only upon presentation and
surrender of this Certificate at the offices of the Certificate Registrar or
such other location specified in the notice to the Holder hereof of such final
distribution. Also notwithstanding the foregoing, any distribution that may be
made with respect to this Certificate in reimbursement of any Realized Loss or
Additional Trust Fund Expense previously allocated to this Certificate, which
reimbursement is to occur after the date on which this Certificate is
surrendered as contemplated by the preceding sentence, will be made by check
mailed to the address of the Holder that surrenders this Certificate as such
address last appears in the Certificate Register or to any such other address of
which the Paying Agent is subsequently notified in writing.

               The Certificates are limited in right of distribution to certain
collections and recoveries respecting the Mortgage Loans and REO Loans, all as
more specifically set forth herein and in the Agreement. As provided in the
Agreement, withdrawals from the Certificate Account, the Distribution Account
and, if established, the REO Account may be made from time to time for purposes
other than, and, in certain cases, prior to, distributions to
Certificateholders, such purposes including the reimbursement of Advances made,
or certain expenses incurred, with respect to the Mortgage Loans and the payment
of interest on such Advances and expenses.

               Interest accrued on this Certificate during an Interest Accrual
Period, plus any unpaid interest shortfall with respect to this Certificate for
any prior Distribution Date, if any, will be payable on the related Distribution
Date to the extent provided in the Agreement. The "Interest Accrual Period" with
respect to any Distribution Date and with respect to the Class C Certificates is
the calendar month preceding the month in which such Distribution Date occurs
and is assumed to consist of 30 days.

               Any distribution to the Holder of this Certificate in reduction
of the Certificate Principal Balance hereof is binding on such Holder and all
future Holders of this Certificate and any Certificate issued upon the transfer
hereof or in exchange herefor or in lieu hereof whether or not notation of such
distribution is made upon this Certificate.

               The Class C Certificates are issuable in fully registered form
only without coupons in minimum denominations specified in the Agreement. As
provided in the Agreement and subject to certain limitations therein set forth,
the Class C Certificates are exchangeable for new Class C Certificates in
authorized denominations evidencing the same aggregate Percentage Interest, as
requested by the Holder surrendering the same.

               As provided in the Agreement and subject to certain limitations
therein set forth, the transfer of this Certificate is registrable in the
Certificate Register upon surrender of this Certificate for registration of
transfer at the offices of the Certificate Registrar, duly endorsed by, or
accompanied by a written instrument of transfer in the form satisfactory to the
Certificate Registrar duly executed by, the Holder hereof or his attorney duly
authorized in writing, and thereupon one or more new Class C Certificates in
authorized denominations evidencing the same aggregate Percentage Interest will
be issued to the designated transferee or transferees.

               No service charge will be imposed for any registration of
transfer or exchange of Class C Certificates, but the Certificate Registrar may
require payment of a sum sufficient to cover any tax or other governmental
charge that may be imposed in connection with any transfer or exchange of Class
C Certificates.

               Notwithstanding the foregoing, for so long as this Certificate is
registered in the name of Cede & Co. or in such other name as is requested by an
authorized representative of DTC, transfers of interests in this Certificate
shall be made through the book-entry facilities of DTC.

               The Depositor, the Master Servicer, the Special Servicer, the
Trustee, the Paying Agent and the Certificate Registrar and any agent of the
Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying
Agent or the Certificate Registrar may treat the Person in whose name this
Certificate is registered as the owner hereof for all purposes whatsoever and
none of the Depositor, the Master Servicer, the Special Servicer, the Trustee,
the Paying Agent, the Certificate Registrar, or any such agent shall be affected
by notice to the contrary.

               The Trust Fund and the obligations created by the Agreement shall
terminate upon distribution (or provision for distribution) to the
Certificateholders of all amounts held by or on behalf of the Trustee and
required to be distributed to them pursuant to the Agreement following the
earlier to occur of (i) the final payment (or any advance with respect thereto)
or other liquidation of the last Mortgage Loan or REO Property remaining in the
Trust Fund, and (ii) the purchase by the Master Servicer, the Special Servicer
or the Majority Subordinate Certificateholder at a price determined as provided
in the Agreement of all Mortgage Loans and each REO Property remaining in the
Trust Fund. The Agreement permits, but does not require, the Master Servicer,
the Special Servicer or the Majority Subordinate Certificateholder to purchase
from the Trust Fund all Mortgage Loans and each REO Property remaining therein.
The exercise of such right will effect early retirement of the Class C
Certificates; however, such right to purchase is subject to the aggregate Stated
Principal Balance of the Mortgage Pool at the time of purchase being less than
1% of the aggregate Stated Principal Balance of the Mortgage Loans as of the
Cut-Off Date specified on the face hereof.

               In addition, any exchange by any Certificateholder of all of the
then outstanding Certificates (other than the Class Z, Class R-I and Class R-II
Certificates) for all of the Mortgage Loans and each REO Property remaining in
the Trust Fund may be made: (i) if the then outstanding Certificates (other than
the Class Z, Class R-I and Class R-II Certificates) are held by a single
Certificateholder and (ii) the Class A-1, Class A-2, Class A-3, Class A-PB,
Class A-4, Class A-1A, Class A-M, Class A-J, Class B, Class C, Class D and Class
E Certificates have been paid in full.

               The Agreement permits, with certain exceptions therein provided,
the amendment thereof and the modification of the rights and obligations of the
Depositor, the Master Servicer, the Special Servicer and the Trustee and the
rights of the Certificateholders under the Agreement at any time by the
Depositor, the Master Servicer, the Special Servicer and the Trustee with the
consent of the Holders of Certificates entitled to at least 51% of the Voting
Rights allocated to the affected Classes. Any such consent by the Holder of this
Certificate shall be conclusive and binding on such Holder and upon all future
Holders of this Certificate and of any Certificate issued upon the transfer
hereof or in exchange herefor or in lieu hereof whether or not notation of such
consent is made upon this Certificate. The Agreement also permits the amendment
thereof, in certain limited circumstances, including any amendment necessary to
maintain the status of the Trust Fund (or designated portions thereof) as
consisting of two separate REMICs and one grantor trust, without the consent of
the Holders of any of the Certificates.

               Unless the certificate of authentication hereon has been executed
by the Certificate Registrar, by manual signature, this Certificate shall not be
entitled to any benefit under the Agreement or be valid for any purpose.

               The registered Holder hereof, by its acceptance hereof, agrees
that it will look solely to the Trust Fund (to the extent of its rights therein)
for distributions hereunder.

               This Certificate shall be construed in accordance with the
internal laws of the State of New York applicable to agreements made and to be
performed in said State, and the obligations, rights and remedies of the Holder
hereof shall be determined in accordance with such laws.

<PAGE>

               IN WITNESS WHEREOF, the Certificate Registrar has caused this
Certificate to be duly executed.

Dated: December 21, 2006

                                          WELLS FARGO BANK, N.A., as Certificate
                                              Registrar

                                          By: __________________________________
                                              Authorized Representative

                          CERTIFICATE OF AUTHENTICATION

               This is one of the Class C Certificates referred to in the
within-mentioned Agreement.

                                          WELLS FARGO BANK, N.A., as
                                              Authenticating Agent

                                          By: __________________________________
                                              Authorized Representative

<PAGE>

                                   ASSIGNMENT

               FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and
transfer(s) unto ________________________________________________________
(please print or typewrite name and address including postal zip code of
assignee) the beneficial ownership interest in the Trust Fund evidenced by the
within Commercial Mortgage Pass-Through Certificate and hereby authorize(s) the
registration of transfer of such interest to assignee on the Certificate
Register of the Trust Fund.

               I (we) further direct the Certificate Registrar to issue a new
Commercial Mortgage Pass-Through Certificate of a like Percentage Interest and
Class to the above named assignee and deliver such Commercial Mortgage
Pass-Through Certificate to the following address:
_________________________________________________________________________.

Dated: _________________________

                                          ______________________________________
                                           Signature by or on behalf of Assignor

                                          ______________________________________
                                                  Signature Guaranteed

<PAGE>

                            DISTRIBUTION INSTRUCTIONS

               The Assignee should include the following for purposes of
distribution:

               Distributions shall, if permitted, be made by wire transfer or
otherwise, in immediately available funds, to _____________________________ for
the account of _______________.

               Distributions made by check (such check to be made payable to
_____________________) and all applicable statements and notices should be
mailed to _____________________________.

               This information is provided by ________________________________,
the Assignee named above, or ____________________________________, as its agent.

<PAGE>

                                  EXHIBIT A-12

                           FORM OF CLASS D CERTIFICATE

              CLASS D COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATE,
                                 SERIES 2006-C29

evidencing a beneficial ownership interest in a trust fund (the "Trust Fund")
consisting primarily of a pool of multifamily and commercial mortgage loans (the
"Mortgage Loans"), such pool being formed and sold by

                     WACHOVIA BANK COMMERCIAL MORTGAGE TRUST

Pass-Through Rate: Variable                  Class Principal Balance of the
                                             Class D Certificates as of the
                                             Closing Date: $29,498,000

Date of Pooling and Servicing Agreement:     Initial Certificate Principal
as of December 1, 2006                       Balance of this Class D Certificate
                                             as of the Closing Date: $29,498,000

Closing Date: December 21, 2006              Aggregate Stated Principal Balance
                                             of the Mortgage Loans as of the
                                             Cut-Off Date: $3,371,274,173

First Distribution Date: January 18, 2007

Master Servicer: Wachovia Bank, National     Trustee: Wells Fargo Bank, N.A.
Association

Special Servicer: LNR Partners, Inc.

Certificate No. D-1                          CUSIP No. [_]

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST CORPORATION, A NEW YORK CORPORATION ("DTC"), TO THE DEPOSITOR,
THE MASTER SERVICER, THE TRUSTEE, THE CERTIFICATE REGISTRAR OR ANY AGENT THEREOF
FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED
IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO
SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY
TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON
IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
HEREIN.

THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN WACHOVIA
COMMERCIAL MORTGAGE SECURITIES, INC., WELLS FARGO BANK, N.A., LNR PARTNERS,
INC., WACHOVIA BANK, NATIONAL ASSOCIATION OR ANY OF THEIR RESPECTIVE AFFILIATES.
NEITHER THIS CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS ARE GUARANTEED BY ANY
AGENCY OR INSTRUMENTALITY OF THE UNITED STATES OR ANY OTHER PERSON.

SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE IS A "REGULAR
INTEREST" IN A "REAL ESTATE MORTGAGE INVESTMENT CONDUIT" (A "REMIC") AS THOSE
TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL
REVENUE CODE OF 1986 (THE "CODE").

THIS CERTIFICATE IS SUBORDINATE TO THE CLASS A-1 CERTIFICATES, THE CLASS A-2
CERTIFICATES, THE CLASS A-3 CERTIFICATES, THE CLASS A-PB CERTIFICATES, THE CLASS
A-4 CERTIFICATES, THE CLASS A-1A CERTIFICATES, THE CLASS A-M CERTIFICATES, THE
CLASS A-J CERTIFICATES, THE CLASS B CERTIFICATES AND THE CLASS C CERTIFICATES OF
THE SAME SERIES TO THE EXTENT DESCRIBED IN THE AGREEMENT REFERRED TO HEREIN.

IF THE AGGREGATE CERTIFICATE PRINCIPAL BALANCE OF THE CLASS A-1 CERTIFICATES,
THE CLASS A-2 CERTIFICATES, THE CLASS A-3 CERTIFICATES, THE CLASS A-PB
CERTIFICATES, THE CLASS A-4 CERTIFICATES, THE CLASS A-1A CERTIFICATES, THE CLASS
A-M CERTIFICATES, THE CLASS A-J CERTIFICATES, THE CLASS B CERTIFICATES AND THE
CLASS C CERTIFICATES OF THE SAME SERIES IS REDUCED TO ZERO, DISTRIBUTIONS IN
REDUCTION OF THE CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE MAY BE MADE
MONTHLY AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.
IN ADDITION, IF THE AGGREGATE CERTIFICATE PRINCIPAL BALANCE OF THE CLASS E,
CLASS F, CLASS G, CLASS H, CLASS J, CLASS K, CLASS L, CLASS M, CLASS N, CLASS O,
CLASS P AND CLASS Q CERTIFICATES OF THE SAME SERIES IS REDUCED TO ZERO, THE
CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE MAY BE REDUCED BY CERTAIN
LOSSES AND EXPENSES EXPERIENCED BY THE TRUST FUND AS SET FORTH IN THE AGREEMENT
REFERRED TO HEREIN. ACCORDINGLY, THE OUTSTANDING CERTIFICATE PRINCIPAL BALANCE
HEREOF AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ABOVE.

               This certifies that Cede & Co. is the registered owner of the
Percentage Interest evidenced by this Class D Certificate (obtained by dividing
the principal amount of this Class D Certificate (its "Certificate Principal
Balance") as of the Closing Date by the aggregate principal amount of all the
Class D Certificates (their "Class Principal Balance") as of the Closing Date)
in that certain beneficial ownership interest evidenced by all the Class D
Certificates in the Trust Fund created pursuant to a Pooling and Servicing
Agreement, dated as specified above (the "Agreement"), among Wachovia Commercial
Mortgage Securities, Inc. (herein called the "Depositor", which term includes
any successor entity under the Agreement), Wachovia Bank, National Association
(herein called the "Master Servicer", which term includes any successor entity
under the Agreement), LNR Partners, Inc. (herein called the "Special Servicer",
which term includes any successor entity under the Agreement) and Wells Fargo
Bank, N.A. (herein called the "Trustee", which term includes any successor
entity under the Agreement), a summary of certain of the pertinent provisions of
which is set forth hereafter. To the extent not defined herein, the capitalized
terms used herein have the respective meanings assigned in the Agreement. This
Certificate is issued under and is subject to the terms, provisions and
conditions of the Agreement, to which Agreement the Holder of this Certificate
by virtue of the acceptance hereof assents and by which such Holder is bound.

               Pursuant to the terms of the Agreement, distributions will be
made on the fourth Business Day following the related Determination Date (each,
a "Distribution Date"). The Determination Date is the 11th day of each month or,
if such 11th day is not a Business Day, the Business Day immediately succeeding,
commencing in January 2007 (each, a "Determination Date"). Distributions will be
made commencing on the first Distribution Date specified above, to the Person in
whose name this Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such distribution
(the "Record Date"), in an amount equal to the product of the Percentage
Interest evidenced by this Certificate and the amount required to be distributed
to the Holders of the Class D Certificates on the applicable Distribution Date
pursuant to the Agreement. All distributions made under the Agreement on the
Class D Certificates will be made by Wells Fargo Bank, N.A., as paying agent
(the "Paying Agent"), by wire transfer of immediately available funds to the
account of the Person entitled thereto at a bank or other entity having
appropriate facilities therefor, if such Certificateholder shall have provided
the Paying Agent with wiring instructions no less than five Business Days prior
to the related Record Date (which wiring instructions may be in the form of a
standing order applicable to all subsequent distributions), or otherwise by
check mailed to the address of such Certificateholder as it appears in the
Certificate Register. Notwithstanding the foregoing, the final distribution on
this Certificate (determined without regard to any possible future reimbursement
of any Realized Loss or Additional Trust Fund Expense previously allocated to
this Certificate) will be made in like manner, but only upon presentation and
surrender of this Certificate at the offices of the Certificate Registrar or
such other location specified in the notice to the Holder hereof of such final
distribution. Also notwithstanding the foregoing, any distribution that may be
made with respect to this Certificate in reimbursement of any Realized Loss or
Additional Trust Fund Expense previously allocated to this Certificate, which
reimbursement is to occur after the date on which this Certificate is
surrendered as contemplated by the preceding sentence, will be made by check
mailed to the address of the Holder that surrenders this Certificate as such
address last appears in the Certificate Register or to any such other address of
which the Paying Agent is subsequently notified in writing.

               The Certificates are limited in right of distribution to certain
collections and recoveries respecting the Mortgage Loans and REO Loans, all as
more specifically set forth herein and in the Agreement. As provided in the
Agreement, withdrawals from the Certificate Account, the Distribution Account
and, if established, the REO Account may be made from time to time for purposes
other than, and, in certain cases, prior to, distributions to
Certificateholders, such purposes including the reimbursement of Advances made,
or certain expenses incurred, with respect to the Mortgage Loans and the payment
of interest on such Advances and expenses.

               Interest accrued on this Certificate during an Interest Accrual
Period, plus any unpaid interest shortfall with respect to this Certificate for
any prior Distribution Date, if any, will be payable on the related Distribution
Date to the extent provided in the Agreement. The "Interest Accrual Period" with
respect to any Distribution Date and with respect to the Class D Certificates is
the calendar month preceding the month in which such Distribution Date occurs
and is assumed to consist of 30 days.

               Any distribution to the Holder of this Certificate in reduction
of the Certificate Principal Balance hereof is binding on such Holder and all
future Holders of this Certificate and any Certificate issued upon the transfer
hereof or in exchange herefor or in lieu hereof whether or not notation of such
distribution is made upon this Certificate.

               The Class D Certificates are issuable in fully registered form
only without coupons in minimum denominations specified in the Agreement. As
provided in the Agreement and subject to certain limitations therein set forth,
the Class D Certificates are exchangeable for new Class D Certificates in
authorized denominations evidencing the same aggregate Percentage Interest, as
requested by the Holder surrendering the same.

               As provided in the Agreement and subject to certain limitations
therein set forth, the transfer of this Certificate is registrable in the
Certificate Register upon surrender of this Certificate for registration of
transfer at the offices of the Certificate Registrar, duly endorsed by, or
accompanied by a written instrument of transfer in the form satisfactory to the
Certificate Registrar duly executed by, the Holder hereof or his attorney duly
authorized in writing, and thereupon one or more new Class D Certificates in
authorized denominations evidencing the same aggregate Percentage Interest will
be issued to the designated transferee or transferees.

               No service charge will be imposed for any registration of
transfer or exchange of Class D Certificates, but the Certificate Registrar may
require payment of a sum sufficient to cover any tax or other governmental
charge that may be imposed in connection with any transfer or exchange of Class
D Certificates.

               Notwithstanding the foregoing, for so long as this Certificate is
registered in the name of Cede & Co. or in such other name as is requested by an
authorized representative of DTC, transfers of interests in this Certificate
shall be made through the book-entry facilities of DTC.

               The Depositor, the Master Servicer, the Special Servicer, the
Trustee, the Paying Agent and the Certificate Registrar and any agent of the
Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying
Agent or the Certificate Registrar may treat the Person in whose name this
Certificate is registered as the owner hereof for all purposes whatsoever and
none of the Depositor, the Master Servicer, the Special Servicer, the Trustee,
the Paying Agent, the Certificate Registrar, or any such agent shall be affected
by notice to the contrary.

               The Trust Fund and the obligations created by the Agreement shall
terminate upon distribution (or provision for distribution) to the
Certificateholders of all amounts held by or on behalf of the Trustee and
required to be distributed to them pursuant to the Agreement following the
earlier to occur of (i) the final payment (or any advance with respect thereto)
or other liquidation of the last Mortgage Loan or REO Property remaining in the
Trust Fund, and (ii) the purchase by the Master Servicer, Special Servicer or
the Majority Subordinate Certificateholder at a price determined as provided in
the Agreement of all Mortgage Loans and each REO Property remaining in the Trust
Fund. The Agreement permits, but does not require, the Master Servicer, the
Special Servicer or the Majority Subordinate Certificateholder to purchase from
the Trust Fund all Mortgage Loans and each REO Property remaining therein. The
exercise of such right will effect early retirement of the Class D Certificates;
however, such right to purchase is subject to the aggregate Stated Principal
Balance of the Mortgage Pool at the time of purchase being less than 1% of the
aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-Off Date
specified on the face hereof.

               In addition, any exchange by any Certificateholder of all of the
then outstanding Certificates (other than the Class Z, Class R-I and Class R-II
Certificates) for all of the Mortgage Loans and each REO Property remaining in
the Trust Fund may be made: (i) if the then outstanding Certificates (other than
the Class Z, Class R-I and Class R-II Certificates) are held by a single
Certificateholder and (ii) the Class A-1, Class A-2, Class A-3, Class A-PB,
Class A-4, Class A-1A, Class A-M, Class A-J, Class B, Class C, Class D and Class
E Certificates have been paid in full.

               The Agreement permits, with certain exceptions therein provided,
the amendment thereof and the modification of the rights and obligations of the
Depositor, the Master Servicer, the Special Servicer and the Trustee and the
rights of the Certificateholders under the Agreement at any time by the
Depositor, the Master Servicer, the Special Servicer and the Trustee with the
consent of the Holders of Certificates entitled to at least 51% of the Voting
Rights allocated to the affected Classes. Any such consent by the Holder of this
Certificate shall be conclusive and binding on such Holder and upon all future
Holders of this Certificate and of any Certificate issued upon the transfer
hereof or in exchange herefor or in lieu hereof whether or not notation of such
consent is made upon this Certificate. The Agreement also permits the amendment
thereof, in certain limited circumstances, including any amendment necessary to
maintain the status of the Trust Fund (or designated portions thereof) as
consisting of two separate REMICs and one grantor trust, without the consent of
the Holders of any of the Certificates.

               Unless the certificate of authentication hereon has been executed
by the Certificate Registrar, by manual signature, this Certificate shall not be
entitled to any benefit under the Agreement or be valid for any purpose.

               The registered Holder hereof, by its acceptance hereof, agrees
that it will look solely to the Trust Fund (to the extent of its rights therein)
for distributions hereunder.

               This Certificate shall be construed in accordance with the
internal laws of the State of New York applicable to agreements made and to be
performed in said State, and the obligations, rights and remedies of the Holder
hereof shall be determined in accordance with such laws.

<PAGE>

               IN WITNESS WHEREOF, the Certificate Registrar has caused this
Certificate to be duly executed.

Dated: December 21, 2006

                                          WELLS FARGO BANK, N.A., as Certificate
                                              Registrar

                                          By: __________________________________
                                              Authorized Representative

                          CERTIFICATE OF AUTHENTICATION

               This is one of the Class D Certificates referred to in the
within-mentioned Agreement.

                                          WELLS FARGO BANK, N.A., as
                                              Authenticating Agent

                                          By: __________________________________
                                              Authorized Representative

<PAGE>

                                   ASSIGNMENT

               FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and
transfer(s) unto ________________________________________________________
(please print or typewrite name and address including postal zip code of
assignee) the beneficial ownership interest in the Trust Fund evidenced by the
within Commercial Mortgage Pass-Through Certificate and hereby authorize(s) the
registration of transfer of such interest to assignee on the Certificate
Register of the Trust Fund.

               I (we) further direct the Certificate Registrar to issue a new
Commercial Mortgage Pass-Through Certificate of a like Percentage Interest and
Class to the above named assignee and deliver such Commercial Mortgage
Pass-Through Certificate to the following address:
_________________________________________________________________________.

Dated: _________________________

                                          ______________________________________
                                           Signature by or on behalf of Assignor

                                          ______________________________________
                                                  Signature Guaranteed

<PAGE>

                            DISTRIBUTION INSTRUCTIONS

               The Assignee should include the following for purposes of
distribution:

               Distributions shall, if permitted, be made by wire transfer or
otherwise, in immediately available funds, to _____________________________ for
the account of _______________.

               Distributions made by check (such check to be made payable to
_____________________) and all applicable statements and notices should be
mailed to _____________________________.

               This information is provided by ________________________________,
the Assignee named above, or ____________________________________, as its agent.

<PAGE>
                                  EXHIBIT A-13

                           FORM OF CLASS E CERTIFICATE

              CLASS E COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATE,
                                 SERIES 2006-C29

evidencing a beneficial ownership interest in a trust fund (the "Trust Fund")
consisting primarily of a pool of multifamily and commercial mortgage loans (the
"Mortgage Loans"), such pool being formed and sold by

                     WACHOVIA BANK COMMERCIAL MORTGAGE TRUST

Pass-Through Rate: Variable                  Class Principal Balance of the
                                             Class E Certificates as of the
                                             Closing Date: $46,355,000

Date of Pooling and Servicing Agreement:     Initial Certificate Principal
as of December 1, 2006                       Balance of this Class E Certificate
                                             as of the Closing Date: $46,355,000

Closing Date: December 21, 2006              Aggregate Stated Principal Balance
                                             of the Mortgage Loans as of the
                                             Cut-Off Date: $3,371,274,173

First Distribution Date: January 18, 2007

Master Servicer: Wachovia Bank, National     Trustee: Wells Fargo Bank, N.A.
Association

Special Servicer: LNR Partners, Inc.

Certificate No. E-1                          CUSIP No. [_]

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST CORPORATION, A NEW YORK CORPORATION ("DTC"), TO THE DEPOSITOR,
THE MASTER SERVICER, THE TRUSTEE, THE CERTIFICATE REGISTRAR OR ANY AGENT THEREOF
FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED
IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO
SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY
TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON
IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
HEREIN.

THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN WACHOVIA
COMMERCIAL MORTGAGE SECURITIES, INC., WELLS FARGO BANK, N.A., LNR PARTNERS,
INC., WACHOVIA BANK, NATIONAL ASSOCIATION OR ANY OF THEIR RESPECTIVE AFFILIATES.
NEITHER THIS CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS ARE GUARANTEED BY ANY
AGENCY OR INSTRUMENTALITY OF THE UNITED STATES OR ANY OTHER PERSON.

SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE IS A "REGULAR
INTEREST" IN A "REAL ESTATE MORTGAGE INVESTMENT CONDUIT" (A "REMIC") AS THOSE
TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL
REVENUE CODE OF 1986 (THE "CODE").

THIS CERTIFICATE IS SUBORDINATE TO THE CLASS A-1 CERTIFICATES, THE CLASS A-2
CERTIFICATES, THE CLASS A-3 CERTIFICATES, THE CLASS A-PB CERTIFICATES, THE CLASS
A-4 CERTIFICATES, THE CLASS A-1A CERTIFICATES, THE CLASS A-M CERTIFICATES, THE
CLASS A-J CERTIFICATES, THE CLASS B CERTIFICATES, THE CLASS C CERTIFICATES AND
THE CLASS D CERTIFICATES OF THE SAME SERIES TO THE EXTENT DESCRIBED IN THE
AGREEMENT REFERRED TO HEREIN.

IF THE AGGREGATE CERTIFICATE PRINCIPAL BALANCE OF THE CLASS A-1 CERTIFICATES,
THE CLASS A-2 CERTIFICATES, THE CLASS A-3 CERTIFICATES, THE CLASS A-PB
CERTIFICATES, THE CLASS A-4 CERTIFICATES, THE CLASS A-1A CERTIFICATES, THE CLASS
A-M CERTIFICATES, THE CLASS A-J CERTIFICATES, THE CLASS B CERTIFICATES, THE
CLASS C CERTIFICATES AND THE CLASS D CERTIFICATES OF THE SAME SERIES IS REDUCED
TO ZERO, DISTRIBUTIONS IN REDUCTION OF THE CERTIFICATE PRINCIPAL BALANCE OF THIS
CERTIFICATE MAY BE MADE MONTHLY AS SET FORTH IN THE POOLING AND SERVICING
AGREEMENT REFERRED TO HEREIN. IN ADDITION, IF THE AGGREGATE CERTIFICATE
PRINCIPAL BALANCE OF THE CLASS F, CLASS G, CLASS H, CLASS J, CLASS K, CLASS L,
CLASS M, CLASS N, CLASS O, CLASS P AND CLASS Q CERTIFICATES OF THE SAME SERIES
IS REDUCED TO ZERO, THE CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE MAY BE
REDUCED BY CERTAIN LOSSES AND EXPENSES EXPERIENCED BY THE TRUST FUND AS SET
FORTH IN THE AGREEMENT REFERRED TO HEREIN. ACCORDINGLY, THE OUTSTANDING
CERTIFICATE PRINCIPAL BALANCE HEREOF AT ANY TIME MAY BE LESS THAN THE AMOUNT
SHOWN ABOVE.

               This certifies that Cede & Co. is the registered owner of the
Percentage Interest evidenced by this Class E Certificate (obtained by dividing
the principal amount of this Class E Certificate (its "Certificate Principal
Balance") as of the Closing Date by the aggregate principal amount of all the
Class E Certificates (their "Class Principal Balance") as of the Closing Date)
in that certain beneficial ownership interest evidenced by all the Class E
Certificates in the Trust Fund created pursuant to a Pooling and Servicing
Agreement, dated as specified above (the "Agreement"), among Wachovia Commercial
Mortgage Securities, Inc. (herein called the "Depositor", which term includes
any successor entity under the Agreement), Wachovia Bank, National Association
(herein called the "Master Servicer", which term includes any successor entity
under the Agreement), LNR Partners, Inc. (herein called the "Special Servicer",
which term includes any successor entity under the Agreement) and Wells Fargo
Bank, N.A. (herein called the "Trustee", which term includes any successor
entity under the Agreement), a summary of certain of the pertinent provisions of
which is set forth hereafter. To the extent not defined herein, the capitalized
terms used herein have the respective meanings assigned in the Agreement. This
Certificate is issued under and is subject to the terms, provisions and
conditions of the Agreement, to which Agreement the Holder of this Certificate
by virtue of the acceptance hereof assents and by which such Holder is bound.

               Pursuant to the terms of the Agreement, distributions will be
made on the fourth Business Day following the related Determination Date (each,
a "Distribution Date"). The Determination Date is the 11th day of each month or,
if such 11th day is not a Business Day, the Business Day immediately succeeding,
commencing in January 2007 (each, a "Determination Date"). Distributions will be
made commencing on the first Distribution Date specified above, to the Person in
whose name this Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such distribution
(the "Record Date"), in an amount equal to the product of the Percentage
Interest evidenced by this Certificate and the amount required to be distributed
to the Holders of the Class E Certificates on the applicable Distribution Date
pursuant to the Agreement. All distributions made under the Agreement on the
Class E Certificates will be made by Wells Fargo Bank, N.A., as paying agent
(the "Paying Agent"), by wire transfer of immediately available funds to the
account of the Person entitled thereto at a bank or other entity having
appropriate facilities therefor, if such Certificateholder shall have provided
the Paying Agent with wiring instructions no less than five Business Days prior
to the related Record Date (which wiring instructions may be in the form of a
standing order applicable to all subsequent distributions), or otherwise by
check mailed to the address of such Certificateholder as it appears in the
Certificate Register. Notwithstanding the foregoing, the final distribution on
this Certificate (determined without regard to any possible future reimbursement
of any Realized Loss or Additional Trust Fund Expense previously allocated to
this Certificate) will be made in like manner, but only upon presentation and
surrender of this Certificate at the offices of the Certificate Registrar or
such other location specified in the notice to the Holder hereof of such final
distribution. Also notwithstanding the foregoing, any distribution that may be
made with respect to this Certificate in reimbursement of any Realized Loss or
Additional Trust Fund Expense previously allocated to this Certificate, which
reimbursement is to occur after the date on which this Certificate is
surrendered as contemplated by the preceding sentence, will be made by check
mailed to the address of the Holder that surrenders this Certificate as such
address last appears in the Certificate Register or to any such other address of
which the Paying Agent is subsequently notified in writing.

               The Certificates are limited in right of distribution to certain
collections and recoveries respecting the Mortgage Loans and REO Loans, all as
more specifically set forth herein and in the Agreement. As provided in the
Agreement, withdrawals from the Certificate Account, the Distribution Account
and, if established, the REO Account may be made from time to time for purposes
other than, and, in certain cases, prior to, distributions to
Certificateholders, such purposes including the reimbursement of Advances made,
or certain expenses incurred, with respect to the Mortgage Loans and the payment
of interest on such Advances and expenses.

               Interest accrued on this Certificate during an Interest Accrual
Period, plus any unpaid interest shortfall with respect to this Certificate for
any prior Distribution Date, if any, will be payable on the related Distribution
Date to the extent provided in the Agreement. The "Interest Accrual Period" with
respect to any Distribution Date and with respect to the Class E Certificates is
the calendar month preceding the month in which such Distribution Date occurs
and is assumed to consist of 30 days.

               Any distribution to the Holder of this Certificate in reduction
of the Certificate Principal Balance hereof is binding on such Holder and all
future Holders of this Certificate and any Certificate issued upon the transfer
hereof or in exchange herefor or in lieu hereof whether or not notation of such
distribution is made upon this Certificate.

               The Class E Certificates are issuable in fully registered form
only without coupons in minimum denominations specified in the Agreement. As
provided in the Agreement and subject to certain limitations therein set forth,
the Class E Certificates are exchangeable for new Class E Certificates in
authorized denominations evidencing the same aggregate Percentage Interest, as
requested by the Holder surrendering the same.

               As provided in the Agreement and subject to certain limitations
therein set forth, the transfer of this Certificate is registrable in the
Certificate Register upon surrender of this Certificate for registration of
transfer at the offices of the Certificate Registrar, duly endorsed by, or
accompanied by a written instrument of transfer in the form satisfactory to the
Certificate Registrar duly executed by, the Holder hereof or his attorney duly
authorized in writing, and thereupon one or more new Class E Certificates in
authorized denominations evidencing the same aggregate Percentage Interest will
be issued to the designated transferee or transferees.

               No service charge will be imposed for any registration of
transfer or exchange of Class E Certificates, but the Certificate Registrar may
require payment of a sum sufficient to cover any tax or other governmental
charge that may be imposed in connection with any transfer or exchange of Class
E Certificates.

               Notwithstanding the foregoing, for so long as this Certificate is
registered in the name of Cede & Co. or in such other name as is requested by an
authorized representative of DTC, transfers of interests in this Certificate
shall be made through the book-entry facilities of DTC.

               The Depositor, the Master Servicer, the Special Servicer, the
Trustee, the Paying Agent and the Certificate Registrar and any agent of the
Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying
Agent or the Certificate Registrar may treat the Person in whose name this
Certificate is registered as the owner hereof for all purposes whatsoever and
none of the Depositor, the Master Servicer, the Special Servicer, the Trustee,
the Paying Agent, the Certificate Registrar, or any such agent shall be affected
by notice to the contrary.

               The Trust Fund and the obligations created by the Agreement shall
terminate upon distribution (or provision for distribution) to the
Certificateholders of all amounts held by or on behalf of the Trustee and
required to be distributed to them pursuant to the Agreement following the
earlier to occur of (i) the final payment (or any advance with respect thereto)
or other liquidation of the last Mortgage Loan or REO Property remaining in the
Trust Fund, and (ii) the purchase by the Master Servicer, Special Servicer or
the Majority Subordinate Certificateholder at a price determined as provided in
the Agreement of all Mortgage Loans and each REO Property remaining in the Trust
Fund. The Agreement permits, but does not require, the Master Servicer, the
Special Servicer or the Majority Subordinate Certificateholder to purchase from
the Trust Fund all Mortgage Loans and each REO Property remaining therein. The
exercise of such right will effect early retirement of the Class E Certificates;
however, such right to purchase is subject to the aggregate Stated Principal
Balance of the Mortgage Pool at the time of purchase being less than 1% of the
aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-Off Date
specified on the face hereof.

               In addition, any exchange by any Certificateholder of all of the
then outstanding Certificates (other than the Class Z, Class R-I and Class R-II
Certificates) for all of the Mortgage Loans and each REO Property remaining in
the Trust Fund may be made: (i) if the then outstanding Certificates (other than
the Class Z, Class R-I and Class R-II Certificates) are held by a single
Certificateholder and (ii) the Class A-1, Class A-2, Class A-3, Class A-PB,
Class A-4, Class A-1A, Class A-M, Class A-J, Class B, Class C, Class D and Class
E Certificates have been paid in full.

               The Agreement permits, with certain exceptions therein provided,
the amendment thereof and the modification of the rights and obligations of the
Depositor, the Master Servicer, the Special Servicer and the Trustee and the
rights of the Certificateholders under the Agreement at any time by the
Depositor, the Master Servicer, the Special Servicer and the Trustee with the
consent of the Holders of Certificates entitled to at least 51% of the Voting
Rights allocated to the affected Classes. Any such consent by the Holder of this
Certificate shall be conclusive and binding on such Holder and upon all future
Holders of this Certificate and of any Certificate issued upon the transfer
hereof or in exchange herefor or in lieu hereof whether or not notation of such
consent is made upon this Certificate. The Agreement also permits the amendment
thereof, in certain limited circumstances, including any amendment necessary to
maintain the status of the Trust Fund (or designated portions thereof) as
consisting of two separate REMICs and one grantor trust, without the consent of
the Holders of any of the Certificates.

               Unless the certificate of authentication hereon has been executed
by the Certificate Registrar, by manual signature, this Certificate shall not be
entitled to any benefit under the Agreement or be valid for any purpose.

               The registered Holder hereof, by its acceptance hereof, agrees
that it will look solely to the Trust Fund (to the extent of its rights therein)
for distributions hereunder.

               This Certificate shall be construed in accordance with the
internal laws of the State of New York applicable to agreements made and to be
performed in said State, and the obligations, rights and remedies of the Holder
hereof shall be determined in accordance with such laws.

<PAGE>

               IN WITNESS WHEREOF, the Certificate Registrar has caused this
Certificate to be duly executed.

Dated: December 21, 2006

                                          WELLS FARGO BANK, N.A., as Certificate
                                              Registrar

                                          By: __________________________________
                                              Authorized Representative

                          CERTIFICATE OF AUTHENTICATION

               This is one of the Class E Certificates referred to in the
within-mentioned Agreement.

                                          WELLS FARGO BANK, N.A., as
                                              Authenticating Agent

                                          By: __________________________________
                                              Authorized Representative

<PAGE>

                                   ASSIGNMENT

               FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and
transfer(s) unto ________________________________________________________
(please print or typewrite name and address including postal zip code of
assignee) the beneficial ownership interest in the Trust Fund evidenced by the
within Commercial Mortgage Pass-Through Certificate and hereby authorize(s) the
registration of transfer of such interest to assignee on the Certificate
Register of the Trust Fund.

               I (we) further direct the Certificate Registrar to issue a new
Commercial Mortgage Pass-Through Certificate of a like Percentage Interest and
Class to the above named assignee and deliver such Commercial Mortgage
Pass-Through Certificate to the following address:
_________________________________________________________________________.

Dated: _________________________

                                          ______________________________________
                                           Signature by or on behalf of Assignor

                                          ______________________________________
                                                  Signature Guaranteed

<PAGE>

                            DISTRIBUTION INSTRUCTIONS

               The Assignee should include the following for purposes of
distribution:

               Distributions shall, if permitted, be made by wire transfer or
otherwise, in immediately available funds, to _____________________________ for
the account of _______________.

               Distributions made by check (such check to be made payable to
_____________________) and all applicable statements and notices should be
mailed to _____________________________.

               This information is provided by ________________________________,
the Assignee named above, or ____________________________________, as its agent.

<PAGE>

                                 EXHIBIT A-14-1

                           FORM OF CLASS F CERTIFICATE

              CLASS F COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATE,
                                 SERIES 2006-C29

evidencing a beneficial ownership interest in a trust fund (the "Trust Fund")
consisting primarily of a pool of multifamily and commercial mortgage loans (the
"Mortgage Loans"), such pool being formed and sold by

                     WACHOVIA BANK COMMERCIAL MORTGAGE TRUST

Pass-Through Rate: Variable                  Class Principal Balance of the
                                             Class F Certificates as of the
                                             Closing Date: $37,927,000

Date of Pooling and Servicing Agreement:     Initial Certificate Principal
as of December 1, 2006                       Balance of this Class F Certificate
                                             as of the Closing Date: $37,927,000

Closing Date: December 21, 2006              Aggregate Stated Principal Balance
                                             of the Mortgage Loans as of the
                                             Cut-Off Date: $3,371,274,173

First Distribution Date: January 18, 2007

Master Servicer: Wachovia Bank, National     Trustee: Wells Fargo Bank, N.A.
Association

Special Servicer: LNR Partners, Inc.

Certificate No. F-1                          CUSIP No. [_]

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST CORPORATION, A NEW YORK CORPORATION ("DTC"), TO THE DEPOSITOR,
THE MASTER SERVICER, THE TRUSTEE, THE CERTIFICATE REGISTRAR OR ANY AGENT THEREOF
FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED
IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO
SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY
TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON
IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
HEREIN.

THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN WACHOVIA
COMMERCIAL MORTGAGE SECURITIES, INC., WELLS FARGO BANK, N.A., LNR PARTNERS,
INC., WACHOVIA BANK, NATIONAL ASSOCIATION OR ANY OF THEIR RESPECTIVE AFFILIATES.
NEITHER THIS CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS ARE GUARANTEED BY ANY
AGENCY OR INSTRUMENTALITY OF THE UNITED STATES OR ANY OTHER PERSON.

THIS CERTIFICATE HAS NOT BEEN REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT
OF 1933 (THE "SECURITIES ACT") OR THE SECURITIES LAWS OF ANY STATE. ANY RESALE,
TRANSFER OR OTHER DISPOSITION OF THIS CERTIFICATE WITHOUT SUCH REGISTRATION OR
QUALIFICATION MAY BE MADE ONLY IN A TRANSACTION WHICH DOES NOT REQUIRE SUCH
REGISTRATION OR QUALIFICATION AND IN ACCORDANCE WITH THE PROVISIONS OF SECTION
5.02 OF THE POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.

SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE IS A "REGULAR
INTEREST" IN A "REAL ESTATE MORTGAGE INVESTMENT CONDUIT" (A "REMIC") AS THOSE
TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL
REVENUE CODE OF 1986 (THE "CODE").

THIS CERTIFICATE IS SUBORDINATE TO THE CLASS A-1 CERTIFICATES, THE CLASS A-2
CERTIFICATES, THE CLASS A-3 CERTIFICATES, THE CLASS A-PB CERTIFICATES, THE CLASS
A-4 CERTIFICATES, THE CLASS A-1A CERTIFICATES, THE CLASS A-M CERTIFICATES, THE
CLASS A-J CERTIFICATES, THE CLASS B CERTIFICATES, THE CLASS C CERTIFICATES, THE
CLASS D CERTIFICATES AND THE CLASS E CERTIFICATES OF THE SAME SERIES TO THE
EXTENT DESCRIBED IN THE AGREEMENT REFERRED TO HEREIN.

IF THE AGGREGATE CERTIFICATE PRINCIPAL BALANCE OF THE CLASS A-1 CERTIFICATES,
THE CLASS A-2 CERTIFICATES, THE CLASS A-3 CERTIFICATES, THE CLASS A-PB
CERTIFICATES, THE CLASS A-4 CERTIFICATES, THE CLASS A-1A CERTIFICATES, THE CLASS
A-M CERTIFICATES, THE CLASS A-J CERTIFICATES, THE CLASS B CERTIFICATES THE CLASS
C CERTIFICATES, THE CLASS D CERTIFICATES AND THE CLASS E CERTIFICATES OF THE
SAME SERIES IS REDUCED TO ZERO, DISTRIBUTIONS IN REDUCTION OF THE CERTIFICATE
PRINCIPAL BALANCE OF THIS CERTIFICATE MAY BE MADE MONTHLY AS SET FORTH IN THE
POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN. IN ADDITION, IF THE
AGGREGATE CERTIFICATE PRINCIPAL BALANCE OF THE CLASS G, CLASS H, CLASS J, CLASS
K, CLASS L, CLASS M, CLASS N, CLASS O, CLASS P AND CLASS Q CERTIFICATES OF THE
SAME SERIES IS REDUCED TO ZERO, THE CERTIFICATE PRINCIPAL BALANCE OF THIS
CERTIFICATE MAY BE REDUCED BY CERTAIN LOSSES AND EXPENSES EXPERIENCED BY THE
TRUST FUND AS SET FORTH IN THE AGREEMENT REFERRED TO HEREIN. ACCORDINGLY, THE
OUTSTANDING CERTIFICATE PRINCIPAL BALANCE HEREOF AT ANY TIME MAY BE LESS THAN
THE AMOUNT SHOWN ABOVE.

               This certifies that Cede & Co. is the registered owner of the
Percentage Interest evidenced by this Class F Certificate (obtained by dividing
the principal amount of this Class F Certificate (its "Certificate Principal
Balance") as of the Closing Date by the aggregate principal amount of all the
Class F Certificates (their "Class Principal Balance") as of the Closing Date)
in that certain beneficial ownership interest evidenced by all the Class F
Certificates in the Trust Fund created pursuant to a Pooling and Servicing
Agreement, dated as specified above (the "Agreement"), among Wachovia Commercial
Mortgage Securities, Inc. (herein called the "Depositor", which term includes
any successor entity under the Agreement), Wachovia Bank, National Association
(herein called the "Master Servicer", which term includes any successor entity
under the Agreement), LNR Partners, Inc. (herein called the "Special Servicer",
which term includes any successor entity under the Agreement) and Wells Fargo
Bank, N.A. (herein called the "Trustee", which term includes any successor
entity under the Agreement), a summary of certain of the pertinent provisions of
which is set forth hereafter. To the extent not defined herein, the capitalized
terms used herein have the respective meanings assigned in the Agreement. This
Certificate is issued under and is subject to the terms, provisions and
conditions of the Agreement, to which Agreement the Holder of this Certificate
by virtue of the acceptance hereof assents and by which such Holder is bound.

               Pursuant to the terms of the Agreement, distributions will be
made on the fourth Business Day following the related Determination Date (each,
a "Distribution Date"). The Determination Date is the 11th day of each month or,
if such 11th day is not a Business Day, the Business Day immediately succeeding,
commencing in January 2007 (each, a "Determination Date"). Distributions will be
made commencing on the first Distribution Date specified above, to the Person in
whose name this Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such distribution
(the "Record Date"), in an amount equal to the product of the Percentage
Interest evidenced by this Certificate and the amount required to be distributed
to the Holders of the Class F Certificates on the applicable Distribution Date
pursuant to the Agreement. All distributions made under the Agreement on the
Class F Certificates will be made by Wells Fargo Bank, N.A., as paying agent
(the "Paying Agent"), by wire transfer of immediately available funds to the
account of the Person entitled thereto at a bank or other entity having
appropriate facilities therefor, if such Certificateholder shall have provided
the Paying Agent with wiring instructions no less than five Business Days prior
to the related Record Date (which wiring instructions may be in the form of a
standing order applicable to all subsequent distributions), or otherwise by
check mailed to the address of such Certificateholder as it appears in the
Certificate Register. Notwithstanding the foregoing, the final distribution on
this Certificate (determined without regard to any possible future reimbursement
of any Realized Loss or Additional Trust Fund Expense previously allocated to
this Certificate) will be made in like manner, but only upon presentation and
surrender of this Certificate at the offices of the Certificate Registrar or
such other location specified in the notice to the Holder hereof of such final
distribution. Also notwithstanding the foregoing, any distribution that may be
made with respect to this Certificate in reimbursement of any Realized Loss or
Additional Trust Fund Expense previously allocated to this Certificate, which
reimbursement is to occur after the date on which this Certificate is
surrendered as contemplated by the preceding sentence, will be made by check
mailed to the address of the Holder that surrenders this Certificate as such
address last appears in the Certificate Register or to any such other address of
which the Paying Agent is subsequently notified in writing.

               The Certificates are limited in right of distribution to certain
collections and recoveries respecting the Mortgage Loans and REO Loans, all as
more specifically set forth herein and in the Agreement. As provided in the
Agreement, withdrawals from the Certificate Account, the Distribution Account
and, if established, the REO Account may be made from time to time for purposes
other than, and, in certain cases, prior to, distributions to
Certificateholders, such purposes including the reimbursement of Advances made,
or certain expenses incurred, with respect to the Mortgage Loans and the payment
of interest on such Advances and expenses.

               Interest accrued on this Certificate during an Interest Accrual
Period, plus any unpaid interest shortfall with respect to this Certificate for
any prior Distribution Date, if any, will be payable on the related Distribution
Date to the extent provided in the Agreement. The "Interest Accrual Period" with
respect to any Distribution Date and with respect to the Class F Certificates is
the calendar month preceding the month in which such Distribution Date occurs
and is assumed to consist of 30 days.

               Any distribution to the Holder of this Certificate in reduction
of the Certificate Principal Balance hereof is binding on such Holder and all
future Holders of this Certificate and any Certificate issued upon the transfer
hereof or in exchange herefor or in lieu hereof whether or not notation of such
distribution is made upon this Certificate.

               The Class F Certificates are issuable in fully registered form
only without coupons in minimum denominations specified in the Agreement. As
provided in the Agreement and subject to certain limitations therein set forth,
the Class F Certificates are exchangeable for new Class F Certificates in
authorized denominations evidencing the same aggregate Percentage Interest, as
requested by the Holder surrendering the same.

               As provided in the Agreement and subject to certain limitations
therein set forth, the transfer of this Certificate is registrable in the
Certificate Register upon surrender of this Certificate for registration of
transfer at the offices of the Certificate Registrar, duly endorsed by, or
accompanied by a written instrument of transfer in the form satisfactory to the
Certificate Registrar duly executed by, the Holder hereof or his attorney duly
authorized in writing, and thereupon one or more new Class F Certificates in
authorized denominations evidencing the same aggregate Percentage Interest will
be issued to the designated transferee or transferees.

               No transfer of any Class F Certificate shall be made unless that
transfer is made pursuant to an effective registration statement under the
Securities Act, and effective registration or qualification under applicable
state securities laws, or is made in a transaction which does not require such
registration or qualification. If such a transfer is to be made without
registration under the Securities Act (other than in connection with the initial
issuance thereof or the initial transfer thereof by the Depositor, the Initial
Purchasers or their respective affiliates), then the Certificate Registrar shall
refuse to register such transfer unless it receives either: (i) a certificate
from the Certificateholder desiring to effect such transfer substantially in the
form attached as Exhibit F-1 to the Agreement, and a certificate from such
Certificateholder's prospective transferee substantially in the form attached as
either Exhibit F-2, Exhibit F-3 Exhibit F-4, Exhibit F-5 or Exhibit F-6 to the
Agreement; or (ii) an Opinion of Counsel reasonably satisfactory to the
Certificate Registrar to the effect that such transfer may be made without
registration under the Securities Act (which Opinion of Counsel shall not be an
expense of the Trust Fund or of the Depositor, the Master Servicer, the Special
Servicer, the Trustee, the Paying Agent or the Certificate Registrar in their
respective capacities as such), together with the written certification(s) as to
the facts surrounding such transfer from the Certificateholder desiring to
effect such transfer and/or such Certificateholder's prospective transferee on
which such Opinion of Counsel is based. None of the Depositor, the Trustee,
Paying Agent or the Certificate Registrar is obligated to register or qualify
the Class F Certificates under the Securities Act or any other securities law or
to take any action not otherwise required under the Agreement to permit the
transfer of any Class F Certificate without registration or qualification. Any
Class F Certificateholder desiring to effect such a transfer shall, and by the
acceptance of its Class F Certificate agrees to, indemnify the Trustee, the
Certificate Registrar, the Paying Agent and the Depositor against any liability
that may result if the transfer is not so exempt or is not made in accordance
with such federal and state laws.

               No service charge will be imposed for any registration of
transfer or exchange of Class F Certificates, but the Certificate Registrar may
require payment of a sum sufficient to cover any tax or other governmental
charge that may be imposed in connection with any transfer or exchange of Class
F Certificates.

               Notwithstanding the foregoing, for so long as this Certificate is
registered in the name of Cede & Co. or in such other name as is requested by an
authorized representative of DTC, transfers of interests in this Certificate
shall be made through the book-entry facilities of DTC.

               The Depositor, the Master Servicer, the Special Servicer, the
Trustee, the Paying Agent and the Certificate Registrar and any agent of the
Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying
Agent or the Certificate Registrar may treat the Person in whose name this
Certificate is registered as the owner hereof for all purposes whatsoever and
none of the Depositor, the Master Servicer, the Special Servicer, the Trustee,
the Paying Agent, the Certificate Registrar, or any such agent shall be affected
by notice to the contrary.

               The Trust Fund and the obligations created by the Agreement shall
terminate upon distribution (or provision for distribution) to the
Certificateholders of all amounts held by or on behalf of the Trustee and
required to be distributed to them pursuant to the Agreement following the
earlier to occur of (i) the final payment (or any advance with respect thereto)
or other liquidation of the last Mortgage Loan or REO Property remaining in the
Trust Fund, and (ii) the purchase by the Master Servicer, Special Servicer or
the Majority Subordinate Certificateholder at a price determined as provided in
the Agreement of all Mortgage Loans and each REO Property remaining in the Trust
Fund. The Agreement permits, but does not require, the Master Servicer, the
Special Servicer or the Majority Subordinate Certificateholder to purchase from
the Trust Fund all Mortgage Loans and each REO Property remaining therein. The
exercise of such right will effect early retirement of the Class F Certificates;
however, such right to purchase is subject to the aggregate Stated Principal
Balance of the Mortgage Pool at the time of purchase being less than 1% of the
aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-Off Date
specified on the face hereof.

               In addition, any exchange by any Certificateholder of all of the
then outstanding Certificates (other than the Class Z, Class R-I and Class R-II
Certificates) for all of the Mortgage Loans and each REO Property remaining in
the Trust Fund may be made: (i) if the then outstanding Certificates (other than
the Class Z, Class R-I and Class R-II Certificates) are held by a single
Certificateholder and (ii) the Class A-1, Class A-2, Class A-3, Class A-PB,
Class A-4, Class A-1A, Class A-M, Class A-J, Class B, Class C, Class D and Class
E Certificates have been paid in full.

               The Agreement permits, with certain exceptions therein provided,
the amendment thereof and the modification of the rights and obligations of the
Depositor, the Master Servicer, the Special Servicer and the Trustee and the
rights of the Certificateholders under the Agreement at any time by the
Depositor, the Master Servicer, the Special Servicer and the Trustee with the
consent of the Holders of Certificates entitled to at least 51% of the Voting
Rights allocated to the affected Classes. Any such consent by the Holder of this
Certificate shall be conclusive and binding on such Holder and upon all future
Holders of this Certificate and of any Certificate issued upon the transfer
hereof or in exchange herefor or in lieu hereof whether or not notation of such
consent is made upon this Certificate. The Agreement also permits the amendment
thereof, in certain limited circumstances, including any amendment necessary to
maintain the status of the Trust Fund (or designated portions thereof) as
consisting of two separate REMICs and one grantor trust, without the consent of
the Holders of any of the Certificates.

               Unless the certificate of authentication hereon has been executed
by the Certificate Registrar, by manual signature, this Certificate shall not be
entitled to any benefit under the Agreement or be valid for any purpose.

               The registered Holder hereof, by its acceptance hereof, agrees
that it will look solely to the Trust Fund (to the extent of its rights therein)
for distributions hereunder.

               This Certificate shall be construed in accordance with the
internal laws of the State of New York applicable to agreements made and to be
performed in said State, and the obligations, rights and remedies of the Holder
hereof shall be determined in accordance with such laws.

<PAGE>

               IN WITNESS WHEREOF, the Certificate Registrar has caused this
Certificate to be duly executed.

Dated: December 21, 2006

                                          WELLS FARGO BANK, N.A., as Certificate
                                              Registrar

                                          By: __________________________________
                                              Authorized Representative

                          CERTIFICATE OF AUTHENTICATION

               This is one of the Class F Certificates referred to in the
within-mentioned Agreement.

                                          WELLS FARGO BANK, N.A., as
                                              Authenticating Agent

                                          By: __________________________________
                                              Authorized Representative

<PAGE>

                                   ASSIGNMENT

               FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and
transfer(s) unto ________________________________________________________
(please print or typewrite name and address including postal zip code of
assignee) the beneficial ownership interest in the Trust Fund evidenced by the
within Commercial Mortgage Pass-Through Certificate and hereby authorize(s) the
registration of transfer of such interest to assignee on the Certificate
Register of the Trust Fund.

               I (we) further direct the Certificate Registrar to issue a new
Commercial Mortgage Pass-Through Certificate of a like Percentage Interest and
Class to the above named assignee and deliver such Commercial Mortgage
Pass-Through Certificate to the following address:
_________________________________________________________________________.

Dated: _________________________

                                          ______________________________________
                                           Signature by or on behalf of Assignor

                                          ______________________________________
                                                  Signature Guaranteed

<PAGE>

                            DISTRIBUTION INSTRUCTIONS

               The Assignee should include the following for purposes of
distribution:

               Distributions shall, if permitted, be made by wire transfer or
otherwise, in immediately available funds, to _____________________________ for
the account of _______________.

               Distributions made by check (such check to be made payable to
_____________________) and all applicable statements and notices should be
mailed to _____________________________.

               This information is provided by ________________________________,
the Assignee named above, or ____________________________________, as its agent.

<PAGE>

                                 EXHIBIT A-14-2

                           FORM OF CLASS F CERTIFICATE

              CLASS F COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATE,
                                 SERIES 2006-C29

evidencing a beneficial ownership interest in a trust fund (the "Trust Fund")
consisting primarily of a pool of multifamily and commercial mortgage loans (the
"Mortgage Loans"), such pool being formed and sold by

                     WACHOVIA BANK COMMERCIAL MORTGAGE TRUST

Pass-Through Rate: Variable                  Class Principal Balance of the
                                             Class F Certificates as of the
                                             Closing Date: $37,927,000

Date of Pooling and Servicing Agreement:     Initial Certificate Principal
as of December 1, 2006                       Balance of this Class F Certificate
                                             as of the Closing Date: $0

Closing Date: December 21, 2006              Aggregate Stated Principal Balance
                                             of the Mortgage Loans as of the
                                             Cut-Off Date: $3,371,274,173

First Distribution Date: January 18, 2007

Master Servicer: Wachovia Bank, National     Trustee: Wells Fargo Bank, N.A.
Association

Special Servicer: LNR Partners, Inc.

Certificate No. F-2                          CUSIP No. [_]

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST CORPORATION, A NEW YORK CORPORATION ("DTC"), TO THE DEPOSITOR,
THE MASTER SERVICER, THE TRUSTEE, THE CERTIFICATE REGISTRAR OR ANY AGENT THEREOF
FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED
IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO
SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY
TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON
IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
HEREIN.

THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN WACHOVIA
COMMERCIAL MORTGAGE SECURITIES, INC., WELLS FARGO BANK, N.A., LNR PARTNERS,
INC., WACHOVIA BANK, NATIONAL ASSOCIATION OR ANY OF THEIR RESPECTIVE AFFILIATES.
NEITHER THIS CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS ARE GUARANTEED BY ANY
AGENCY OR INSTRUMENTALITY OF THE UNITED STATES OR ANY OTHER PERSON.

THIS CERTIFICATE HAS NOT BEEN REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT
OF 1933 (THE "SECURITIES ACT") OR THE SECURITIES LAWS OF ANY STATE. ANY RESALE,
TRANSFER OR OTHER DISPOSITION OF THIS CERTIFICATE WITHOUT SUCH REGISTRATION OR
QUALIFICATION MAY BE MADE ONLY IN A TRANSACTION WHICH DOES NOT REQUIRE SUCH
REGISTRATION OR QUALIFICATION AND IN ACCORDANCE WITH THE PROVISIONS OF SECTION
5.02 OF THE POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.

SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE IS A "REGULAR
INTEREST" IN A "REAL ESTATE MORTGAGE INVESTMENT CONDUIT" (A "REMIC") AS THOSE
TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL
REVENUE CODE OF 1986 (THE "CODE").

THIS CERTIFICATE IS SUBORDINATE TO THE CLASS A-1 CERTIFICATES, THE CLASS A-2
CERTIFICATES, THE CLASS A-3 CERTIFICATES, THE CLASS A-PB CERTIFICATES, THE CLASS
A-4 CERTIFICATES, THE CLASS A-1A CERTIFICATES, THE CLASS A-M CERTIFICATES, THE
CLASS A-J CERTIFICATES, THE CLASS B CERTIFICATES, THE CLASS C CERTIFICATES, THE
CLASS D CERTIFICATES AND THE CLASS E CERTIFICATES OF THE SAME SERIES TO THE
EXTENT DESCRIBED IN THE AGREEMENT REFERRED TO HEREIN.

IF THE AGGREGATE CERTIFICATE PRINCIPAL BALANCE OF THE CLASS A-1 CERTIFICATES,
THE CLASS A-2 CERTIFICATES, THE CLASS A-3 CERTIFICATES, THE CLASS A-PB
CERTIFICATES, THE CLASS A-4 CERTIFICATES, THE CLASS A-1A CERTIFICATES, THE CLASS
A-M CERTIFICATES, THE CLASS A-J CERTIFICATES, THE CLASS B CERTIFICATES THE CLASS
C CERTIFICATES, THE CLASS D CERTIFICATES AND THE CLASS E CERTIFICATES OF THE
SAME SERIES IS REDUCED TO ZERO, DISTRIBUTIONS IN REDUCTION OF THE CERTIFICATE
PRINCIPAL BALANCE OF THIS CERTIFICATE MAY BE MADE MONTHLY AS SET FORTH IN THE
POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN. IN ADDITION, IF THE
AGGREGATE CERTIFICATE PRINCIPAL BALANCE OF THE CLASS G, CLASS H, CLASS J, CLASS
K, CLASS L, CLASS M, CLASS N, CLASS O, CLASS P AND CLASS Q CERTIFICATES OF THE
SAME SERIES IS REDUCED TO ZERO, THE CERTIFICATE PRINCIPAL BALANCE OF THIS
CERTIFICATE MAY BE REDUCED BY CERTAIN LOSSES AND EXPENSES EXPERIENCED BY THE
TRUST FUND AS SET FORTH IN THE AGREEMENT REFERRED TO HEREIN. ACCORDINGLY, THE
OUTSTANDING CERTIFICATE PRINCIPAL BALANCE HEREOF AT ANY TIME MAY BE LESS THAN
THE AMOUNT SHOWN ABOVE.

               This certifies that Cede & Co. is the registered owner of the
Percentage Interest evidenced by this Class F Certificate (obtained by dividing
the principal amount of this Class F Certificate (its "Certificate Principal
Balance") as of the Closing Date by the aggregate principal amount of all the
Class F Certificates (their "Class Principal Balance") as of the Closing Date)
in that certain beneficial ownership interest evidenced by all the Class F
Certificates in the Trust Fund created pursuant to a Pooling and Servicing
Agreement, dated as specified above (the "Agreement"), among Wachovia Commercial
Mortgage Securities, Inc. (herein called the "Depositor", which term includes
any successor entity under the Agreement), Wachovia Bank, National Association
(herein called the "Master Servicer", which term includes any successor entity
under the Agreement), LNR Partners, Inc. (herein called the "Special Servicer",
which term includes any successor entity under the Agreement) and Wells Fargo
Bank, N.A. (herein called the "Trustee", which term includes any successor
entity under the Agreement), a summary of certain of the pertinent provisions of
which is set forth hereafter. To the extent not defined herein, the capitalized
terms used herein have the respective meanings assigned in the Agreement. This
Certificate is issued under and is subject to the terms, provisions and
conditions of the Agreement, to which Agreement the Holder of this Certificate
by virtue of the acceptance hereof assents and by which such Holder is bound.

               Pursuant to the terms of the Agreement, distributions will be
made on the fourth Business Day following the related Determination Date (each,
a "Distribution Date"). The Determination Date is the 11th day of each month or,
if such 11th day is not a Business Day, the Business Day immediately succeeding,
commencing in January 2007 (each, a "Determination Date"). Distributions will be
made commencing on the first Distribution Date specified above, to the Person in
whose name this Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such distribution
(the "Record Date"), in an amount equal to the product of the Percentage
Interest evidenced by this Certificate and the amount required to be distributed
to the Holders of the Class F Certificates on the applicable Distribution Date
pursuant to the Agreement. All distributions made under the Agreement on the
Class F Certificates will be made by Wells Fargo Bank, N.A., as paying agent
(the "Paying Agent"), by wire transfer of immediately available funds to the
account of the Person entitled thereto at a bank or other entity having
appropriate facilities therefor, if such Certificateholder shall have provided
the Paying Agent with wiring instructions no less than five Business Days prior
to the related Record Date (which wiring instructions may be in the form of a
standing order applicable to all subsequent distributions), or otherwise by
check mailed to the address of such Certificateholder as it appears in the
Certificate Register. Notwithstanding the foregoing, the final distribution on
this Certificate (determined without regard to any possible future reimbursement
of any Realized Loss or Additional Trust Fund Expense previously allocated to
this Certificate) will be made in like manner, but only upon presentation and
surrender of this Certificate at the offices of the Certificate Registrar or
such other location specified in the notice to the Holder hereof of such final
distribution. Also notwithstanding the foregoing, any distribution that may be
made with respect to this Certificate in reimbursement of any Realized Loss or
Additional Trust Fund Expense previously allocated to this Certificate, which
reimbursement is to occur after the date on which this Certificate is
surrendered as contemplated by the preceding sentence, will be made by check
mailed to the address of the Holder that surrenders this Certificate as such
address last appears in the Certificate Register or to any such other address of
which the Paying Agent is subsequently notified in writing.

               The Certificates are limited in right of distribution to certain
collections and recoveries respecting the Mortgage Loans and REO Loans, all as
more specifically set forth herein and in the Agreement. As provided in the
Agreement, withdrawals from the Certificate Account, the Distribution Account
and, if established, the REO Account may be made from time to time for purposes
other than, and, in certain cases, prior to, distributions to
Certificateholders, such purposes including the reimbursement of Advances made,
or certain expenses incurred, with respect to the Mortgage Loans and the payment
of interest on such Advances and expenses.

               Interest accrued on this Certificate during an Interest Accrual
Period, plus any unpaid interest shortfall with respect to this Certificate for
any prior Distribution Date, if any, will be payable on the related Distribution
Date to the extent provided in the Agreement. The "Interest Accrual Period" with
respect to any Distribution Date and with respect to the Class F Certificates is
the calendar month preceding the month in which such Distribution Date occurs
and is assumed to consist of 30 days.

               Any distribution to the Holder of this Certificate in reduction
of the Certificate Principal Balance hereof is binding on such Holder and all
future Holders of this Certificate and any Certificate issued upon the transfer
hereof or in exchange herefor or in lieu hereof whether or not notation of such
distribution is made upon this Certificate.

               The Class F Certificates are issuable in fully registered form
only without coupons in minimum denominations specified in the Agreement. As
provided in the Agreement and subject to certain limitations therein set forth,
the Class F Certificates are exchangeable for new Class F Certificates in
authorized denominations evidencing the same aggregate Percentage Interest, as
requested by the Holder surrendering the same.

               As provided in the Agreement and subject to certain limitations
therein set forth, the transfer of this Certificate is registrable in the
Certificate Register upon surrender of this Certificate for registration of
transfer at the offices of the Certificate Registrar, duly endorsed by, or
accompanied by a written instrument of transfer in the form satisfactory to the
Certificate Registrar duly executed by, the Holder hereof or his attorney duly
authorized in writing, and thereupon one or more new Class F Certificates in
authorized denominations evidencing the same aggregate Percentage Interest will
be issued to the designated transferee or transferees.

               No transfer of any Class F Certificate shall be made unless that
transfer is made pursuant to an effective registration statement under the
Securities Act, and effective registration or qualification under applicable
state securities laws, or is made in a transaction which does not require such
registration or qualification. If such a transfer is to be made without
registration under the Securities Act (other than in connection with the initial
issuance thereof or the initial transfer thereof by the Depositor, the Initial
Purchasers or their respective affiliates), then the Certificate Registrar shall
refuse to register such transfer unless it receives either: (i) a certificate
from the Certificateholder desiring to effect such transfer substantially in the
form attached as Exhibit F-1 to the Agreement, and a certificate from such
Certificateholder's prospective transferee substantially in the form attached as
either Exhibit F-2, Exhibit F-3 Exhibit F-4, Exhibit F-5 or Exhibit F-6 to the
Agreement; or (ii) an Opinion of Counsel reasonably satisfactory to the
Certificate Registrar to the effect that such transfer may be made without
registration under the Securities Act (which Opinion of Counsel shall not be an
expense of the Trust Fund or of the Depositor, the Master Servicer, the Special
Servicer, the Trustee, the Paying Agent or the Certificate Registrar in their
respective capacities as such), together with the written certification(s) as to
the facts surrounding such transfer from the Certificateholder desiring to
effect such transfer and/or such Certificateholder's prospective transferee on
which such Opinion of Counsel is based. None of the Depositor, the Trustee,
Paying Agent or the Certificate Registrar is obligated to register or qualify
the Class F Certificates under the Securities Act or any other securities law or
to take any action not otherwise required under the Agreement to permit the
transfer of any Class F Certificate without registration or qualification. Any
Class F Certificateholder desiring to effect such a transfer shall, and by the
acceptance of its Class F Certificate agrees to, indemnify the Trustee, the
Certificate Registrar, the Paying Agent and the Depositor against any liability
that may result if the transfer is not so exempt or is not made in accordance
with such federal and state laws.

               No service charge will be imposed for any registration of
transfer or exchange of Class F Certificates, but the Certificate Registrar may
require payment of a sum sufficient to cover any tax or other governmental
charge that may be imposed in connection with any transfer or exchange of Class
F Certificates.

               Notwithstanding the foregoing, for so long as this Certificate is
registered in the name of Cede & Co. or in such other name as is requested by an
authorized representative of DTC, transfers of interests in this Certificate
shall be made through the book-entry facilities of DTC.

               The Depositor, the Master Servicer, the Special Servicer, the
Trustee, the Paying Agent and the Certificate Registrar and any agent of the
Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying
Agent or the Certificate Registrar may treat the Person in whose name this
Certificate is registered as the owner hereof for all purposes whatsoever and
none of the Depositor, the Master Servicer, the Special Servicer, the Trustee,
the Paying Agent, the Certificate Registrar, or any such agent shall be affected
by notice to the contrary.

               The Trust Fund and the obligations created by the Agreement shall
terminate upon distribution (or provision for distribution) to the
Certificateholders of all amounts held by or on behalf of the Trustee and
required to be distributed to them pursuant to the Agreement following the
earlier to occur of (i) the final payment (or any advance with respect thereto)
or other liquidation of the last Mortgage Loan or REO Property remaining in the
Trust Fund, and (ii) the purchase by the Master Servicer, Special Servicer or
the Majority Subordinate Certificateholder at a price determined as provided in
the Agreement of all Mortgage Loans and each REO Property remaining in the Trust
Fund. The Agreement permits, but does not require, the Master Servicer, the
Special Servicer or the Majority Subordinate Certificateholder to purchase from
the Trust Fund all Mortgage Loans and each REO Property remaining therein. The
exercise of such right will effect early retirement of the Class F Certificates;
however, such right to purchase is subject to the aggregate Stated Principal
Balance of the Mortgage Pool at the time of purchase being less than 1% of the
aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-Off Date
specified on the face hereof.

               In addition, any exchange by any Certificateholder of all of the
then outstanding Certificates (other than the Class Z, Class R-I and Class R-II
Certificates) for all of the Mortgage Loans and each REO Property remaining in
the Trust Fund may be made: (i) if the then outstanding Certificates (other than
the Class Z, Class R-I and Class R-II Certificates) are held by a single
Certificateholder and (ii) the Class A-1, Class A-2, Class A-3, Class A-PB,
Class A-4, Class A-1A, Class A-M, Class A-J, Class B, Class C, Class D and Class
E Certificates have been paid in full.

               The Agreement permits, with certain exceptions therein provided,
the amendment thereof and the modification of the rights and obligations of the
Depositor, the Master Servicer, the Special Servicer and the Trustee and the
rights of the Certificateholders under the Agreement at any time by the
Depositor, the Master Servicer, the Special Servicer and the Trustee with the
consent of the Holders of Certificates entitled to at least 51% of the Voting
Rights allocated to the affected Classes. Any such consent by the Holder of this
Certificate shall be conclusive and binding on such Holder and upon all future
Holders of this Certificate and of any Certificate issued upon the transfer
hereof or in exchange herefor or in lieu hereof whether or not notation of such
consent is made upon this Certificate. The Agreement also permits the amendment
thereof, in certain limited circumstances, including any amendment necessary to
maintain the status of the Trust Fund (or designated portions thereof) as
consisting of two separate REMICs and one grantor trust, without the consent of
the Holders of any of the Certificates.

               Unless the certificate of authentication hereon has been executed
by the Certificate Registrar, by manual signature, this Certificate shall not be
entitled to any benefit under the Agreement or be valid for any purpose.

               The registered Holder hereof, by its acceptance hereof, agrees
that it will look solely to the Trust Fund (to the extent of its rights therein)
for distributions hereunder.

               This Certificate shall be construed in accordance with the
internal laws of the State of New York applicable to agreements made and to be
performed in said State, and the obligations, rights and remedies of the Holder
hereof shall be determined in accordance with such laws.

<PAGE>

               IN WITNESS WHEREOF, the Certificate Registrar has caused this
Certificate to be duly executed.

Dated: December 21, 2006

                                          WELLS FARGO BANK, N.A., as Certificate
                                              Registrar

                                          By: __________________________________
                                              Authorized Representative

                          CERTIFICATE OF AUTHENTICATION

               This is one of the Class F Certificates referred to in the
within-mentioned Agreement.

                                          WELLS FARGO BANK, N.A., as
                                              Authenticating Agent

                                          By: __________________________________
                                              Authorized Representative

<PAGE>

                                   ASSIGNMENT

               FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and
transfer(s) unto ________________________________________________________
(please print or typewrite name and address including postal zip code of
assignee) the beneficial ownership interest in the Trust Fund evidenced by the
within Commercial Mortgage Pass-Through Certificate and hereby authorize(s) the
registration of transfer of such interest to assignee on the Certificate
Register of the Trust Fund.

               I (we) further direct the Certificate Registrar to issue a new
Commercial Mortgage Pass-Through Certificate of a like Percentage Interest and
Class to the above named assignee and deliver such Commercial Mortgage
Pass-Through Certificate to the following address:
_________________________________________________________________________.

Dated: _________________________

                                          ______________________________________
                                           Signature by or on behalf of Assignor

                                          ______________________________________
                                                  Signature Guaranteed

<PAGE>

                            DISTRIBUTION INSTRUCTIONS

               The Assignee should include the following for purposes of
distribution:

               Distributions shall, if permitted, be made by wire transfer or
otherwise, in immediately available funds, to _____________________________ for
the account of _______________.

               Distributions made by check (such check to be made payable to
_____________________) and all applicable statements and notices should be
mailed to _____________________________.

               This information is provided by ________________________________,
the Assignee named above, or ____________________________________, as its agent.

<PAGE>

                                 EXHIBIT A-15-1

                           FORM OF CLASS G CERTIFICATE

              CLASS G COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATE,
                                 SERIES 2006-C29

evidencing a beneficial ownership interest in a trust fund (the "Trust Fund")
consisting primarily of a pool of multifamily and commercial mortgage loans (the
"Mortgage Loans"), such pool being formed and sold by

                     WACHOVIA BANK COMMERCIAL MORTGAGE TRUST

Pass-Through Rate: Variable                  Class Principal Balance of the
                                             Class G Certificates as of the
                                             Closing Date: $37,927,000

Date of Pooling and Servicing Agreement:     Initial Certificate Principal
as of December 1, 2006                       Balance of this Class G Certificate
                                             as of the Closing Date: $37,927,000

Closing Date: December 21, 2006              Aggregate Stated Principal Balance
                                             of the Mortgage Loans as of the
                                             Cut-Off Date: $3,371,274,173

First Distribution Date: January 18, 2007

Master Servicer: Wachovia Bank, National     Trustee: Wells Fargo Bank, N.A.
Association

Special Servicer: LNR Partners, Inc.

Certificate No. G-1                          CUSIP No. [_]

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST CORPORATION, A NEW YORK CORPORATION ("DTC"), TO THE DEPOSITOR,
THE MASTER SERVICER, THE TRUSTEE, THE CERTIFICATE REGISTRAR OR ANY AGENT THEREOF
FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED
IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO
SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY
TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON
IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
HEREIN.

THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN WACHOVIA
COMMERCIAL MORTGAGE SECURITIES, INC., WELLS FARGO BANK, N.A., LNR PARTNERS,
INC., WACHOVIA BANK, NATIONAL ASSOCIATION OR ANY OF THEIR RESPECTIVE AFFILIATES.
NEITHER THIS CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS ARE GUARANTEED BY ANY
AGENCY OR INSTRUMENTALITY OF THE UNITED STATES OR ANY OTHER PERSON.

THIS CERTIFICATE HAS NOT BEEN REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT
OF 1933 (THE "SECURITIES ACT") OR THE SECURITIES LAWS OF ANY STATE. ANY RESALE,
TRANSFER OR OTHER DISPOSITION OF THIS CERTIFICATE WITHOUT SUCH REGISTRATION OR
QUALIFICATION MAY BE MADE ONLY IN A TRANSACTION WHICH DOES NOT REQUIRE SUCH
REGISTRATION OR QUALIFICATION AND IN ACCORDANCE WITH THE PROVISIONS OF SECTION
5.02 OF THE AGREEMENT REFERRED TO HEREIN.

SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE IS A "REGULAR
INTEREST" IN A "REAL ESTATE MORTGAGE INVESTMENT CONDUIT" (A "REMIC") AS THOSE
TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL
REVENUE CODE OF 1986 (THE "CODE").

THIS CERTIFICATE IS SUBORDINATE TO THE CLASS A-1 CERTIFICATES, THE CLASS A-2
CERTIFICATES, THE CLASS A-3 CERTIFICATES, THE CLASS A-PB CERTIFICATES, THE CLASS
A-4 CERTIFICATES, THE CLASS A-1A CERTIFICATES, THE CLASS A-M CERTIFICATES, THE
CLASS A-J CERTIFICATES, THE CLASS B CERTIFICATES, THE CLASS C CERTIFICATES, THE
CLASS D CERTIFICATES, THE CLASS E CERTIFICATES AND THE CLASS F CERTIFICATES OF
THE SAME SERIES TO THE EXTENT DESCRIBED IN THE AGREEMENT REFERRED TO HEREIN.

IF THE AGGREGATE CERTIFICATE PRINCIPAL BALANCE OF THE CLASS A-1 CERTIFICATES,
THE CLASS A-2 CERTIFICATES, THE CLASS A-3 CERTIFICATES, THE CLASS A-PB
CERTIFICATES, THE CLASS A-4 CERTIFICATES, THE CLASS A-1A CERTIFICATES, THE CLASS
A-M CERTIFICATES, THE CLASS A-J CERTIFICATES, THE CLASS B CERTIFICATES, THE
CLASS C CERTIFICATES, THE CLASS D CERTIFICATES, THE CLASS E CERTIFICATES AND THE
CLASS F CERTIFICATES OF THE SAME SERIES IS REDUCED TO ZERO, DISTRIBUTIONS IN
REDUCTION OF THE CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE MAY BE MADE
MONTHLY AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.
IN ADDITION, IF THE AGGREGATE CERTIFICATE PRINCIPAL BALANCE OF THE CLASS H,
CLASS J, CLASS K, CLASS L, CLASS M, CLASS N, CLASS O, CLASS P AND CLASS Q
CERTIFICATES OF THE SAME SERIES IS REDUCED TO ZERO, THE CERTIFICATE PRINCIPAL
BALANCE OF THIS CERTIFICATE MAY BE REDUCED BY CERTAIN LOSSES AND EXPENSES
EXPERIENCED BY THE TRUST FUND AS SET FORTH IN THE AGREEMENT REFERRED TO HEREIN.
ACCORDINGLY, THE OUTSTANDING CERTIFICATE PRINCIPAL BALANCE HEREOF AT ANY TIME
MAY BE LESS THAN THE AMOUNT SHOWN ABOVE.

               This certifies that Cede & Co. is the registered owner of the
Percentage Interest evidenced by this Class G Certificate (obtained by dividing
the principal amount of this Class G Certificate (its "Certificate Principal
Balance") as of the Closing Date by the aggregate principal amount of all the
Class G Certificates (their "Class Principal Balance") as of the Closing Date)
in that certain beneficial ownership interest evidenced by all the Class G
Certificates in the Trust Fund created pursuant to a Pooling and Servicing
Agreement, dated as specified above (the "Agreement"), among Wachovia Commercial
Mortgage Securities, Inc. (herein called the "Depositor", which term includes
any successor entity under the Agreement), Wachovia Bank, National Association
(herein called the "Master Servicer", which term includes any successor entity
under the Agreement), LNR Partners, Inc. (herein called the "Special Servicer",
which term includes any successor entity under the Agreement) and Wells Fargo
Bank, N.A. (herein called the "Trustee", which term includes any successor
entity under the Agreement), a summary of certain of the pertinent provisions of
which is set forth hereafter. To the extent not defined herein, the capitalized
terms used herein have the respective meanings assigned in the Agreement. This
Certificate is issued under and is subject to the terms, provisions and
conditions of the Agreement, to which Agreement the Holder of this Certificate
by virtue of the acceptance hereof assents and by which such Holder is bound.

               Pursuant to the terms of the Agreement, distributions will be
made on the fourth Business Day following the related Determination Date (each,
a "Distribution Date"). The Determination Date is the 11th day of each month or,
if such 11th day is not a Business Day, the Business Day immediately succeeding,
commencing in January 2007 (each, a "Determination Date"). Distributions will be
made commencing on the first Distribution Date specified above, to the Person in
whose name this Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such distribution
(the "Record Date"), in an amount equal to the product of the Percentage
Interest evidenced by this Certificate and the amount required to be distributed
to the Holders of the Class G Certificates on the applicable Distribution Date
pursuant to the Agreement. All distributions made under the Agreement on the
Class G Certificates will be made by Wells Fargo Bank, N.A., as paying agent
(the "Paying Agent"), by wire transfer of immediately available funds to the
account of the Person entitled thereto at a bank or other entity having
appropriate facilities therefor, if such Certificateholder shall have provided
the Paying Agent with wiring instructions no less than five Business Days prior
to the related Record Date (which wiring instructions may be in the form of a
standing order applicable to all subsequent distributions), or otherwise by
check mailed to the address of such Certificateholder as it appears in the
Certificate Register. Notwithstanding the foregoing, the final distribution on
this Certificate (determined without regard to any possible future reimbursement
of any Realized Loss or Additional Trust Fund Expense previously allocated to
this Certificate) will be made in like manner, but only upon presentation and
surrender of this Certificate at the offices of the Certificate Registrar or
such other location specified in the notice to the Holder hereof of such final
distribution. Also notwithstanding the foregoing, any distribution that may be
made with respect to this Certificate in reimbursement of any Realized Loss or
Additional Trust Fund Expense previously allocated to this Certificate, which
reimbursement is to occur after the date on which this Certificate is
surrendered as contemplated by the preceding sentence, will be made by check
mailed to the address of the Holder that surrenders this Certificate as such
address last appears in the Certificate Register or to any such other address of
which the Paying Agent is subsequently notified in writing.

               The Certificates are limited in right of distribution to certain
collections and recoveries respecting the Mortgage Loans and REO Loans, all as
more specifically set forth herein and in the Agreement. As provided in the
Agreement, withdrawals from the Certificate Account, the Distribution Account
and, if established, the REO Account may be made from time to time for purposes
other than, and, in certain cases, prior to, distributions to
Certificateholders, such purposes including the reimbursement of Advances made,
or certain expenses incurred, with respect to the Mortgage Loans and the payment
of interest on such Advances and expenses.

               Interest accrued on this Certificate during an Interest Accrual
Period, plus any unpaid interest shortfall with respect to this Certificate for
any prior Distribution Date, if any, will be payable on the related Distribution
Date to the extent provided in the Agreement. The "Interest Accrual Period" with
respect to any Distribution Date and with respect to the Class G Certificates is
the calendar month preceding the month in which such Distribution Date occurs
and is assumed to consist of 30 days.

               Any distribution to the Holder of this Certificate in reduction
of the Certificate Principal Balance hereof is binding on such Holder and all
future Holders of this Certificate and any Certificate issued upon the transfer
hereof or in exchange herefor or in lieu hereof whether or not notation of such
distribution is made upon this Certificate.

               The Class G Certificates are issuable in fully registered form
only without coupons in minimum denominations specified in the Agreement. As
provided in the Agreement and subject to certain limitations therein set forth,
the Class G Certificates are exchangeable for new Class G Certificates in
authorized denominations evidencing the same aggregate Percentage Interest, as
requested by the Holder surrendering the same.

               As provided in the Agreement and subject to certain limitations
therein set forth, the transfer of this Certificate is registrable in the
Certificate Register upon surrender of this Certificate for registration of
transfer at the offices of the Certificate Registrar, duly endorsed by, or
accompanied by a written instrument of transfer in the form satisfactory to the
Certificate Registrar duly executed by, the Holder hereof or his attorney duly
authorized in writing, and thereupon one or more new Class G Certificates in
authorized denominations evidencing the same aggregate Percentage Interest will
be issued to the designated transferee or transferees.

               No transfer of any Class G Certificate shall be made unless that
transfer is made pursuant to an effective registration statement under the
Securities Act, and effective registration or qualification under applicable
state securities laws, or is made in a transaction which does not require such
registration or qualification. If such a transfer is to be made without
registration under the Securities Act (other than in connection with the initial
issuance thereof or the initial transfer thereof by the Depositor, the Initial
Purchaser or their respective affiliates), then the Certificate Registrar shall
refuse to register such transfer unless it receives either: (i) a certificate
from the Certificateholder desiring to effect such transfer substantially in the
form attached as Exhibit F-1 to the Agreement, and a certificate from such
Certificateholder's prospective transferee substantially in the form attached as
either Exhibit F-2, Exhibit F-3, Exhibit F-4, Exhibit F-5 or Exhibit F-6 to the
Agreement; or (ii) an Opinion of Counsel reasonably satisfactory to the
Certificate Registrar to the effect that such transfer may be made without
registration under the Securities Act (which Opinion of Counsel shall not be an
expense of the Trust Fund or of the Depositor, the Master Servicer, the Special
Servicer, the Trustee, the Paying Agent or the Certificate Registrar in their
respective capacities as such), together with the written certification(s) as to
the facts surrounding such transfer from the Certificateholder desiring to
effect such transfer and/or such Certificateholder's prospective transferee on
which such Opinion of Counsel is based. None of the Depositor, the Trustee,
Paying Agent or the Certificate Registrar is obligated to register or qualify
the Class G Certificates under the Securities Act or any other securities law or
to take any action not otherwise required under the Agreement to permit the
transfer of any Class G Certificate without registration or qualification. Any
Class G Certificateholder desiring to effect such a transfer shall, and by the
acceptance of its Class G Certificate agrees to, indemnify the Trustee, the
Certificate Registrar, the Paying Agent and the Depositor against any liability
that may result if the transfer is not so exempt or is not made in accordance
with such federal and state laws.

               No service charge will be imposed for any registration of
transfer or exchange of Class G Certificates, but the Certificate Registrar may
require payment of a sum sufficient to cover any tax or other governmental
charge that may be imposed in connection with any transfer or exchange of Class
G Certificates.

               Notwithstanding the foregoing, for so long as this Certificate is
registered in the name of Cede & Co. or in such other name as is requested by an
authorized representative of DTC, transfers of interests in this Certificate
shall be made through the book-entry facilities of DTC.

               The Depositor, the Master Servicer, the Special Servicer, the
Trustee, the Paying Agent and the Certificate Registrar and any agent of the
Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying
Agent or the Certificate Registrar may treat the Person in whose name this
Certificate is registered as the owner hereof for all purposes whatsoever and
none of the Depositor, the Master Servicer, the Special Servicer, the Trustee,
the Paying Agent, the Certificate Registrar, or any such agent shall be affected
by notice to the contrary.

               The Trust Fund and the obligations created by the Agreement shall
terminate upon distribution (or provision for distribution) to the
Certificateholders of all amounts held by or on behalf of the Trustee and
required to be distributed to them pursuant to the Agreement following the
earlier to occur of (i) the final payment (or any advance with respect thereto)
or other liquidation of the last Mortgage Loan or REO Property remaining in the
Trust Fund, and (ii) the purchase by the Master Servicer, the Special Servicer
or the Majority Subordinate Certificateholder at a price determined as provided
in the Agreement of all Mortgage Loans and each REO Property remaining in the
Trust Fund. The Agreement permits, but does not require, the Master Servicer,
the Special Servicer or the Majority Subordinate Certificateholder to purchase
from the Trust Fund all Mortgage Loans and each REO Property remaining therein.
The exercise of such right will effect early retirement of the Class G
Certificates; however, such right to purchase is subject to the aggregate Stated
Principal Balance of the Mortgage Pool at the time of purchase being less than
1% of the aggregate Stated Principal Balance of the Mortgage Loans as of the
Cut-Off Date specified on the face hereof.

               In addition, any exchange by any Certificateholder of all of the
then outstanding Certificates (other than the Class Z, Class R-I and Class R-II
Certificates) for all of the Mortgage Loans and each REO Property remaining in
the Trust Fund may be made: (i) if the then outstanding Certificates (other than
the Class Z, Class R-I and Class R-II Certificates) are held by a single
Certificateholder and (ii) the Class A-1, Class A-2, Class A-3, Class A-PB,
Class A-4, Class A-1A, Class A-M, Class A-J, Class B, Class C, Class D and Class
E Certificates have been paid in full.

               The Agreement permits, with certain exceptions therein provided,
the amendment thereof and the modification of the rights and obligations of the
Depositor, the Master Servicer, the Special Servicer and the Trustee and the
rights of the Certificateholders under the Agreement at any time by the
Depositor, the Master Servicer, the Special Servicer and the Trustee with the
consent of the Holders of Certificates entitled to at least 51% of the Voting
Rights allocated to the affected Classes. Any such consent by the Holder of this
Certificate shall be conclusive and binding on such Holder and upon all future
Holders of this Certificate and of any Certificate issued upon the transfer
hereof or in exchange herefor or in lieu hereof whether or not notation of such
consent is made upon this Certificate. The Agreement also permits the amendment
thereof, in certain limited circumstances, including any amendment necessary to
maintain the status of the Trust Fund (or designated portions thereof) as
consisting of two separate REMICs and one grantor trust, without the consent of
the Holders of any of the Certificates.

               Unless the certificate of authentication hereon has been executed
by the Certificate Registrar, by manual signature, this Certificate shall not be
entitled to any benefit under the Agreement or be valid for any purpose.

               The registered Holder hereof, by its acceptance hereof, agrees
that it will look solely to the Trust Fund (to the extent of its rights therein)
for distributions hereunder.

               This Certificate shall be construed in accordance with the
internal laws of the State of New York applicable to agreements made and to be
performed in said State, and the obligations, rights and remedies of the Holder
hereof shall be determined in accordance with such laws.

<PAGE>

               IN WITNESS WHEREOF, the Certificate Registrar has caused this
Certificate to be duly executed.

Dated: December 21, 2006

                                          WELLS FARGO BANK, N.A., as Certificate
                                              Registrar

                                          By: __________________________________
                                              Authorized Representative

                          CERTIFICATE OF AUTHENTICATION

               This is one of the Class G Certificates referred to in the
within-mentioned Agreement.

                                          WELLS FARGO BANK, N.A., as
                                              Authenticating Agent

                                          By: __________________________________
                                              Authorized Representative

<PAGE>

                                   ASSIGNMENT

               FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and
transfer(s) unto ________________________________________________________
(please print or typewrite name and address including postal zip code of
assignee) the beneficial ownership interest in the Trust Fund evidenced by the
within Commercial Mortgage Pass-Through Certificate and hereby authorize(s) the
registration of transfer of such interest to assignee on the Certificate
Register of the Trust Fund.

               I (we) further direct the Certificate Registrar to issue a new
Commercial Mortgage Pass-Through Certificate of a like Percentage Interest and
Class to the above named assignee and deliver such Commercial Mortgage
Pass-Through Certificate to the following address:
_________________________________________________________________________.

Dated: _________________________

                                          ______________________________________
                                           Signature by or on behalf of Assignor

                                          ______________________________________
                                                  Signature Guaranteed

<PAGE>

                            DISTRIBUTION INSTRUCTIONS

               The Assignee should include the following for purposes of
distribution:

               Distributions shall, if permitted, be made by wire transfer or
otherwise, in immediately available funds, to _____________________________ for
the account of _______________.

               Distributions made by check (such check to be made payable to
_____________________) and all applicable statements and notices should be
mailed to _____________________________.

               This information is provided by ________________________________,
the Assignee named above, or ____________________________________, as its agent.

<PAGE>

                                 EXHIBIT A-15-2

                           FORM OF CLASS G CERTIFICATE

              CLASS G COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATE,
                                 SERIES 2006-C29

evidencing a beneficial ownership interest in a trust fund (the "Trust Fund")
consisting primarily of a pool of multifamily and commercial mortgage loans (the
"Mortgage Loans"), such pool being formed and sold by

                     WACHOVIA BANK COMMERCIAL MORTGAGE TRUST

Pass-Through Rate: Variable                  Class Principal Balance of the
                                             Class G Certificates as of the
                                             Closing Date: $37,927,000

Date of Pooling and Servicing Agreement:     Initial Certificate Principal
as of December 1, 2006                       Balance of this Class G Certificate
                                             as of the Closing Date: $0

Closing Date: December 21, 2006              Aggregate Stated Principal Balance
                                             of the Mortgage Loans as of the
                                             Cut-Off Date: $3,371,274,173

First Distribution Date: January 18, 2007

Master Servicer: Wachovia Bank, National     Trustee: Wells Fargo Bank, N.A.
Association

Special Servicer: LNR Partners, Inc.

Certificate No. G-2                          CUSIP No. [_]

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST CORPORATION, A NEW YORK CORPORATION ("DTC"), TO THE DEPOSITOR,
THE MASTER SERVICER, THE TRUSTEE, THE CERTIFICATE REGISTRAR OR ANY AGENT THEREOF
FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED
IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO
SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY
TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON
IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
HEREIN.

THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN WACHOVIA
COMMERCIAL MORTGAGE SECURITIES, INC., WELLS FARGO BANK, N.A., LNR PARTNERS,
INC., WACHOVIA BANK, NATIONAL ASSOCIATION OR ANY OF THEIR RESPECTIVE AFFILIATES.
NEITHER THIS CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS ARE GUARANTEED BY ANY
AGENCY OR INSTRUMENTALITY OF THE UNITED STATES OR ANY OTHER PERSON.

THIS CERTIFICATE HAS NOT BEEN REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT
OF 1933 (THE "SECURITIES ACT") OR THE SECURITIES LAWS OF ANY STATE. ANY RESALE,
TRANSFER OR OTHER DISPOSITION OF THIS CERTIFICATE WITHOUT SUCH REGISTRATION OR
QUALIFICATION MAY BE MADE ONLY IN A TRANSACTION WHICH DOES NOT REQUIRE SUCH
REGISTRATION OR QUALIFICATION AND IN ACCORDANCE WITH THE PROVISIONS OF SECTION
5.02 OF THE AGREEMENT REFERRED TO HEREIN.

SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE IS A "REGULAR
INTEREST" IN A "REAL ESTATE MORTGAGE INVESTMENT CONDUIT" (A "REMIC") AS THOSE
TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL
REVENUE CODE OF 1986 (THE "CODE").

THIS CERTIFICATE IS SUBORDINATE TO THE CLASS A-1 CERTIFICATES, THE CLASS A-2
CERTIFICATES, THE CLASS A-3 CERTIFICATES, THE CLASS A-PB CERTIFICATES, THE CLASS
A-4 CERTIFICATES, THE CLASS A-1A CERTIFICATES, THE CLASS A-M CERTIFICATES, THE
CLASS A-J CERTIFICATES, THE CLASS B CERTIFICATES, THE CLASS C CERTIFICATES, THE
CLASS D CERTIFICATES, THE CLASS E CERTIFICATES AND THE CLASS F CERTIFICATES OF
THE SAME SERIES TO THE EXTENT DESCRIBED IN THE AGREEMENT REFERRED TO HEREIN.

IF THE AGGREGATE CERTIFICATE PRINCIPAL BALANCE OF THE CLASS A-1 CERTIFICATES,
THE CLASS A-2 CERTIFICATES, THE CLASS A-3 CERTIFICATES, THE CLASS A-PB
CERTIFICATES, THE CLASS A-4 CERTIFICATES, THE CLASS A-1A CERTIFICATES, THE CLASS
A-M CERTIFICATES, THE CLASS A-J CERTIFICATES, THE CLASS B CERTIFICATES, THE
CLASS C CERTIFICATES, THE CLASS D CERTIFICATES, THE CLASS E CERTIFICATES AND THE
CLASS F CERTIFICATES OF THE SAME SERIES IS REDUCED TO ZERO, DISTRIBUTIONS IN
REDUCTION OF THE CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE MAY BE MADE
MONTHLY AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.
IN ADDITION, IF THE AGGREGATE CERTIFICATE PRINCIPAL BALANCE OF THE CLASS H,
CLASS J, CLASS K, CLASS L, CLASS M, CLASS N, CLASS O, CLASS P AND CLASS Q
CERTIFICATES OF THE SAME SERIES IS REDUCED TO ZERO, THE CERTIFICATE PRINCIPAL
BALANCE OF THIS CERTIFICATE MAY BE REDUCED BY CERTAIN LOSSES AND EXPENSES
EXPERIENCED BY THE TRUST FUND AS SET FORTH IN THE AGREEMENT REFERRED TO HEREIN.
ACCORDINGLY, THE OUTSTANDING CERTIFICATE PRINCIPAL BALANCE HEREOF AT ANY TIME
MAY BE LESS THAN THE AMOUNT SHOWN ABOVE.

               This certifies that Cede & Co. is the registered owner of the
Percentage Interest evidenced by this Class G Certificate (obtained by dividing
the principal amount of this Class G Certificate (its "Certificate Principal
Balance") as of the Closing Date by the aggregate principal amount of all the
Class G Certificates (their "Class Principal Balance") as of the Closing Date)
in that certain beneficial ownership interest evidenced by all the Class G
Certificates in the Trust Fund created pursuant to a Pooling and Servicing
Agreement, dated as specified above (the "Agreement"), among Wachovia Commercial
Mortgage Securities, Inc. (herein called the "Depositor", which term includes
any successor entity under the Agreement), Wachovia Bank, National Association
(herein called the "Master Servicer", which term includes any successor entity
under the Agreement), LNR Partners, Inc. (herein called the "Special Servicer",
which term includes any successor entity under the Agreement) and Wells Fargo
Bank, N.A. (herein called the "Trustee", which term includes any successor
entity under the Agreement), a summary of certain of the pertinent provisions of
which is set forth hereafter. To the extent not defined herein, the capitalized
terms used herein have the respective meanings assigned in the Agreement. This
Certificate is issued under and is subject to the terms, provisions and
conditions of the Agreement, to which Agreement the Holder of this Certificate
by virtue of the acceptance hereof assents and by which such Holder is bound.

               Pursuant to the terms of the Agreement, distributions will be
made on the fourth Business Day following the related Determination Date (each,
a "Distribution Date"). The Determination Date is the 11th day of each month or,
if such 11th day is not a Business Day, the Business Day immediately succeeding,
commencing in January 2007 (each, a "Determination Date"). Distributions will be
made commencing on the first Distribution Date specified above, to the Person in
whose name this Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such distribution
(the "Record Date"), in an amount equal to the product of the Percentage
Interest evidenced by this Certificate and the amount required to be distributed
to the Holders of the Class G Certificates on the applicable Distribution Date
pursuant to the Agreement. All distributions made under the Agreement on the
Class G Certificates will be made by Wells Fargo Bank, N.A., as paying agent
(the "Paying Agent"), by wire transfer of immediately available funds to the
account of the Person entitled thereto at a bank or other entity having
appropriate facilities therefor, if such Certificateholder shall have provided
the Paying Agent with wiring instructions no less than five Business Days prior
to the related Record Date (which wiring instructions may be in the form of a
standing order applicable to all subsequent distributions), or otherwise by
check mailed to the address of such Certificateholder as it appears in the
Certificate Register. Notwithstanding the foregoing, the final distribution on
this Certificate (determined without regard to any possible future reimbursement
of any Realized Loss or Additional Trust Fund Expense previously allocated to
this Certificate) will be made in like manner, but only upon presentation and
surrender of this Certificate at the offices of the Certificate Registrar or
such other location specified in the notice to the Holder hereof of such final
distribution. Also notwithstanding the foregoing, any distribution that may be
made with respect to this Certificate in reimbursement of any Realized Loss or
Additional Trust Fund Expense previously allocated to this Certificate, which
reimbursement is to occur after the date on which this Certificate is
surrendered as contemplated by the preceding sentence, will be made by check
mailed to the address of the Holder that surrenders this Certificate as such
address last appears in the Certificate Register or to any such other address of
which the Paying Agent is subsequently notified in writing.

               The Certificates are limited in right of distribution to certain
collections and recoveries respecting the Mortgage Loans and REO Loans, all as
more specifically set forth herein and in the Agreement. As provided in the
Agreement, withdrawals from the Certificate Account, the Distribution Account
and, if established, the REO Account may be made from time to time for purposes
other than, and, in certain cases, prior to, distributions to
Certificateholders, such purposes including the reimbursement of Advances made,
or certain expenses incurred, with respect to the Mortgage Loans and the payment
of interest on such Advances and expenses.

               Interest accrued on this Certificate during an Interest Accrual
Period, plus any unpaid interest shortfall with respect to this Certificate for
any prior Distribution Date, if any, will be payable on the related Distribution
Date to the extent provided in the Agreement. The "Interest Accrual Period" with
respect to any Distribution Date and with respect to the Class G Certificates is
the calendar month preceding the month in which such Distribution Date occurs
and is assumed to consist of 30 days.

               Any distribution to the Holder of this Certificate in reduction
of the Certificate Principal Balance hereof is binding on such Holder and all
future Holders of this Certificate and any Certificate issued upon the transfer
hereof or in exchange herefor or in lieu hereof whether or not notation of such
distribution is made upon this Certificate.

               The Class G Certificates are issuable in fully registered form
only without coupons in minimum denominations specified in the Agreement. As
provided in the Agreement and subject to certain limitations therein set forth,
the Class G Certificates are exchangeable for new Class G Certificates in
authorized denominations evidencing the same aggregate Percentage Interest, as
requested by the Holder surrendering the same.

               As provided in the Agreement and subject to certain limitations
therein set forth, the transfer of this Certificate is registrable in the
Certificate Register upon surrender of this Certificate for registration of
transfer at the offices of the Certificate Registrar, duly endorsed by, or
accompanied by a written instrument of transfer in the form satisfactory to the
Certificate Registrar duly executed by, the Holder hereof or his attorney duly
authorized in writing, and thereupon one or more new Class G Certificates in
authorized denominations evidencing the same aggregate Percentage Interest will
be issued to the designated transferee or transferees.

               No transfer of any Class G Certificate shall be made unless that
transfer is made pursuant to an effective registration statement under the
Securities Act, and effective registration or qualification under applicable
state securities laws, or is made in a transaction which does not require such
registration or qualification. If such a transfer is to be made without
registration under the Securities Act (other than in connection with the initial
issuance thereof or the initial transfer thereof by the Depositor, the Initial
Purchaser or their respective affiliates), then the Certificate Registrar shall
refuse to register such transfer unless it receives either: (i) a certificate
from the Certificateholder desiring to effect such transfer substantially in the
form attached as Exhibit F-1 to the Agreement, and a certificate from such
Certificateholder's prospective transferee substantially in the form attached as
either Exhibit F-2, Exhibit F-3, Exhibit F-4, Exhibit F-5 or Exhibit F-6 to the
Agreement; or (ii) an Opinion of Counsel reasonably satisfactory to the
Certificate Registrar to the effect that such transfer may be made without
registration under the Securities Act (which Opinion of Counsel shall not be an
expense of the Trust Fund or of the Depositor, the Master Servicer, the Special
Servicer, the Trustee, the Paying Agent or the Certificate Registrar in their
respective capacities as such), together with the written certification(s) as to
the facts surrounding such transfer from the Certificateholder desiring to
effect such transfer and/or such Certificateholder's prospective transferee on
which such Opinion of Counsel is based. None of the Depositor, the Trustee,
Paying Agent or the Certificate Registrar is obligated to register or qualify
the Class G Certificates under the Securities Act or any other securities law or
to take any action not otherwise required under the Agreement to permit the
transfer of any Class G Certificate without registration or qualification. Any
Class G Certificateholder desiring to effect such a transfer shall, and by the
acceptance of its Class G Certificate agrees to, indemnify the Trustee, the
Certificate Registrar, the Paying Agent and the Depositor against any liability
that may result if the transfer is not so exempt or is not made in accordance
with such federal and state laws.

               No service charge will be imposed for any registration of
transfer or exchange of Class G Certificates, but the Certificate Registrar may
require payment of a sum sufficient to cover any tax or other governmental
charge that may be imposed in connection with any transfer or exchange of Class
G Certificates.

               Notwithstanding the foregoing, for so long as this Certificate is
registered in the name of Cede & Co. or in such other name as is requested by an
authorized representative of DTC, transfers of interests in this Certificate
shall be made through the book-entry facilities of DTC.

               The Depositor, the Master Servicer, the Special Servicer, the
Trustee, the Paying Agent and the Certificate Registrar and any agent of the
Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying
Agent or the Certificate Registrar may treat the Person in whose name this
Certificate is registered as the owner hereof for all purposes whatsoever and
none of the Depositor, the Master Servicer, the Special Servicer, the Trustee,
the Paying Agent, the Certificate Registrar, or any such agent shall be affected
by notice to the contrary.

               The Trust Fund and the obligations created by the Agreement shall
terminate upon distribution (or provision for distribution) to the
Certificateholders of all amounts held by or on behalf of the Trustee and
required to be distributed to them pursuant to the Agreement following the
earlier to occur of (i) the final payment (or any advance with respect thereto)
or other liquidation of the last Mortgage Loan or REO Property remaining in the
Trust Fund, and (ii) the purchase by the Master Servicer, the Special Servicer
or the Majority Subordinate Certificateholder at a price determined as provided
in the Agreement of all Mortgage Loans and each REO Property remaining in the
Trust Fund. The Agreement permits, but does not require, the Master Servicer,
the Special Servicer or the Majority Subordinate Certificateholder to purchase
from the Trust Fund all Mortgage Loans and each REO Property remaining therein.
The exercise of such right will effect early retirement of the Class G
Certificates; however, such right to purchase is subject to the aggregate Stated
Principal Balance of the Mortgage Pool at the time of purchase being less than
1% of the aggregate Stated Principal Balance of the Mortgage Loans as of the
Cut-Off Date specified on the face hereof.

               In addition, any exchange by any Certificateholder of all of the
then outstanding Certificates (other than the Class Z, Class R-I and Class R-II
Certificates) for all of the Mortgage Loans and each REO Property remaining in
the Trust Fund may be made: (i) if the then outstanding Certificates (other than
the Class Z, Class R-I and Class R-II Certificates) are held by a single
Certificateholder and (ii) the Class A-1, Class A-2, Class A-3, Class A-PB,
Class A-4, Class A-1A, Class A-M, Class A-J, Class B, Class C, Class D and Class
E Certificates have been paid in full.

               The Agreement permits, with certain exceptions therein provided,
the amendment thereof and the modification of the rights and obligations of the
Depositor, the Master Servicer, the Special Servicer and the Trustee and the
rights of the Certificateholders under the Agreement at any time by the
Depositor, the Master Servicer, the Special Servicer and the Trustee with the
consent of the Holders of Certificates entitled to at least 51% of the Voting
Rights allocated to the affected Classes. Any such consent by the Holder of this
Certificate shall be conclusive and binding on such Holder and upon all future
Holders of this Certificate and of any Certificate issued upon the transfer
hereof or in exchange herefor or in lieu hereof whether or not notation of such
consent is made upon this Certificate. The Agreement also permits the amendment
thereof, in certain limited circumstances, including any amendment necessary to
maintain the status of the Trust Fund (or designated portions thereof) as
consisting of two separate REMICs and one grantor trust, without the consent of
the Holders of any of the Certificates.

               Unless the certificate of authentication hereon has been executed
by the Certificate Registrar, by manual signature, this Certificate shall not be
entitled to any benefit under the Agreement or be valid for any purpose.

               The registered Holder hereof, by its acceptance hereof, agrees
that it will look solely to the Trust Fund (to the extent of its rights therein)
for distributions hereunder.

               This Certificate shall be construed in accordance with the
internal laws of the State of New York applicable to agreements made and to be
performed in said State, and the obligations, rights and remedies of the Holder
hereof shall be determined in accordance with such laws.

<PAGE>

               IN WITNESS WHEREOF, the Certificate Registrar has caused this
Certificate to be duly executed.

Dated: December 21, 2006

                                          WELLS FARGO BANK, N.A., as Certificate
                                              Registrar

                                          By: __________________________________
                                              Authorized Representative

                          CERTIFICATE OF AUTHENTICATION

               This is one of the Class G Certificates referred to in the
within-mentioned Agreement.

                                          WELLS FARGO BANK, N.A., as
                                              Authenticating Agent

                                          By: __________________________________
                                              Authorized Representative

<PAGE>

                                   ASSIGNMENT

               FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and
transfer(s) unto ________________________________________________________
(please print or typewrite name and address including postal zip code of
assignee) the beneficial ownership interest in the Trust Fund evidenced by the
within Commercial Mortgage Pass-Through Certificate and hereby authorize(s) the
registration of transfer of such interest to assignee on the Certificate
Register of the Trust Fund.

               I (we) further direct the Certificate Registrar to issue a new
Commercial Mortgage Pass-Through Certificate of a like Percentage Interest and
Class to the above named assignee and deliver such Commercial Mortgage
Pass-Through Certificate to the following address:
_________________________________________________________________________.

Dated: _________________________

                                          ______________________________________
                                           Signature by or on behalf of Assignor

                                          ______________________________________
                                                  Signature Guaranteed

<PAGE>

                            DISTRIBUTION INSTRUCTIONS

               The Assignee should include the following for purposes of
distribution:

               Distributions shall, if permitted, be made by wire transfer or
otherwise, in immediately available funds, to _____________________________ for
the account of _______________.

               Distributions made by check (such check to be made payable to
_____________________) and all applicable statements and notices should be
mailed to _____________________________.

               This information is provided by ________________________________,
the Assignee named above, or ____________________________________, as its agent.

<PAGE>

                                 EXHIBIT A-16-1

                           FORM OF CLASS H CERTIFICATE

              CLASS H COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATE,
                                 SERIES 2006-C29

evidencing a beneficial ownership interest in a trust fund (the "Trust Fund")
consisting primarily of a pool of multifamily and commercial mortgage loans (the
"Mortgage Loans"), such pool being formed and sold by

                     WACHOVIA BANK COMMERCIAL MORTGAGE TRUST

Pass-Through Rate: Variable                  Class Principal Balance of the
                                             Class H Certificates as of the
                                             Closing Date: $33,713,000

Date of Pooling and Servicing Agreement:     Initial Certificate Principal
as of December 1, 2006                       Balance of this Class H Certificate
                                             as of the Closing Date: $33,713,000

Closing Date: December 21, 2006              Aggregate Stated Principal Balance
                                             of the Mortgage Loans as of the
                                             Cut-Off Date: $3,371,274,173

First Distribution Date: January 18, 2007

Master Servicer: Wachovia Bank, National     Trustee: Wells Fargo Bank, N.A.
Association

Special Servicer: LNR Partners, Inc.

Certificate No. H-1                          CUSIP No. [_]

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST CORPORATION, A NEW YORK CORPORATION ("DTC"), TO THE DEPOSITOR,
THE MASTER SERVICER, THE TRUSTEE, THE CERTIFICATE REGISTRAR OR ANY AGENT THEREOF
FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED
IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO
SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY
TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON
IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
HEREIN.

THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN WACHOVIA
COMMERCIAL MORTGAGE SECURITIES, INC., WELLS FARGO BANK, N.A., LNR PARTNERS,
INC., WACHOVIA BANK, NATIONAL ASSOCIATION OR ANY OF THEIR RESPECTIVE AFFILIATES.
NEITHER THIS CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS ARE GUARANTEED BY ANY
AGENCY OR INSTRUMENTALITY OF THE UNITED STATES OR ANY OTHER PERSON.

THIS CERTIFICATE HAS NOT BEEN REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT
OF 1933 (THE "SECURITIES ACT") OR THE SECURITIES LAWS OF ANY STATE. ANY RESALE,
TRANSFER OR OTHER DISPOSITION OF THIS CERTIFICATE WITHOUT SUCH REGISTRATION OR
QUALIFICATION MAY BE MADE ONLY IN A TRANSACTION WHICH DOES NOT REQUIRE SUCH
REGISTRATION OR QUALIFICATION AND IN ACCORDANCE WITH THE PROVISIONS OF SECTION
5.02 OF THE AGREEMENT REFERRED TO HEREIN.

SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE IS A "REGULAR
INTEREST" IN A "REAL ESTATE MORTGAGE INVESTMENT CONDUIT" (A "REMIC") AS THOSE
TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL
REVENUE CODE OF 1986 (THE "CODE").

THIS CERTIFICATE IS SUBORDINATE TO THE CLASS A-1 CERTIFICATES, THE CLASS A-2
CERTIFICATES, THE CLASS A-3 CERTIFICATES, THE CLASS A-PB CERTIFICATES, THE CLASS
A-4 CERTIFICATES, THE CLASS A-1A CERTIFICATES, THE CLASS A-M CERTIFICATES, THE
CLASS A-J CERTIFICATES, THE CLASS B CERTIFICATES, THE CLASS C CERTIFICATES, THE
CLASS D CERTIFICATES, THE CLASS E CERTIFICATES, THE CLASS F CERTIFICATES AND THE
CLASS G CERTIFICATES OF THE SAME SERIES TO THE EXTENT DESCRIBED IN THE AGREEMENT
REFERRED TO HEREIN.

IF THE AGGREGATE CERTIFICATE PRINCIPAL BALANCE OF THE CLASS A-1 CERTIFICATES,
THE CLASS A-2 CERTIFICATES, THE CLASS A-3 CERTIFICATES, THE CLASS A-PB
CERTIFICATES, THE CLASS A-4 CERTIFICATES, THE CLASS A-1A CERTIFICATES, THE CLASS
A-M CERTIFICATES, THE CLASS A-J CERTIFICATES, THE CLASS B CERTIFICATES, THE
CLASS C CERTIFICATES, THE CLASS D CERTIFICATES, THE CLASS E CERTIFICATES, THE
CLASS F CERTIFICATES AND THE CLASS G CERTIFICATES OF THE SAME SERIES IS REDUCED
TO ZERO, DISTRIBUTIONS IN REDUCTION OF THE CERTIFICATE PRINCIPAL BALANCE OF THIS
CERTIFICATE MAY BE MADE MONTHLY AS SET FORTH IN THE POOLING AND SERVICING
AGREEMENT REFERRED TO HEREIN. IN ADDITION, IF THE AGGREGATE CERTIFICATE
PRINCIPAL BALANCE OF THE CLASS J, CLASS K, CLASS L, CLASS M, CLASS N, CLASS O,
CLASS P AND CLASS Q CERTIFICATES OF THE SAME SERIES IS REDUCED TO ZERO, THE
CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE MAY BE REDUCED BY CERTAIN
LOSSES AND EXPENSES EXPERIENCED BY THE TRUST FUND AS SET FORTH IN THE AGREEMENT
REFERRED TO HEREIN. ACCORDINGLY, THE OUTSTANDING CERTIFICATE PRINCIPAL BALANCE
HEREOF AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ABOVE.

               This certifies that Cede & Co. is the registered owner of the
Percentage Interest evidenced by this Class H Certificate (obtained by dividing
the principal amount of this Class H Certificate (its "Certificate Principal
Balance") as of the Closing Date by the aggregate principal amount of all the
Class H Certificates (their "Class Principal Balance") as of the Closing Date)
in that certain beneficial ownership interest evidenced by all the Class H
Certificates in the Trust Fund created pursuant to a Pooling and Servicing
Agreement, dated as specified above (the "Agreement"), among Wachovia Commercial
Mortgage Securities, Inc. (herein called the "Depositor", which term includes
any successor entity under the Agreement), Wachovia Bank, National Association
(herein called the "Master Servicer", which term includes any successor entity
under the Agreement), LNR Partners, Inc. (herein called the "Special Servicer",
which term includes any successor entity under the Agreement) and Wells Fargo
Bank, N.A. (herein called the "Trustee", which term includes any successor
entity under the Agreement), a summary of certain of the pertinent provisions of
which is set forth hereafter. To the extent not defined herein, the capitalized
terms used herein have the respective meanings assigned in the Agreement. This
Certificate is issued under and is subject to the terms, provisions and
conditions of the Agreement, to which Agreement the Holder of this Certificate
by virtue of the acceptance hereof assents and by which such Holder is bound.

               Pursuant to the terms of the Agreement, distributions will be
made on the fourth Business Day following the related Determination Date (each,
a "Distribution Date"). The Determination Date is the 11th day of each month or,
if such 11th day is not a Business Day, the Business Day immediately succeeding,
commencing in January 2007 (each, a "Determination Date"). Distributions will be
made commencing on the first Distribution Date specified above, to the Person in
whose name this Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such distribution
(the "Record Date"), in an amount equal to the product of the Percentage
Interest evidenced by this Certificate and the amount required to be distributed
to the Holders of the Class H Certificates on the applicable Distribution Date
pursuant to the Agreement. All distributions made under the Agreement on the
Class H Certificates will be made by Wells Fargo Bank, N.A., as paying agent
(the "Paying Agent"), by wire transfer of immediately available funds to the
account of the Person entitled thereto at a bank or other entity having
appropriate facilities therefor, if such Certificateholder shall have provided
the Paying Agent with wiring instructions no less than five Business Days prior
to the related Record Date (which wiring instructions may be in the form of a
standing order applicable to all subsequent distributions), or otherwise by
check mailed to the address of such Certificateholder as it appears in the
Certificate Register. Notwithstanding the foregoing, the final distribution on
this Certificate (determined without regard to any possible future reimbursement
of any Realized Loss or Additional Trust Fund Expense previously allocated to
this Certificate) will be made in like manner, but only upon presentation and
surrender of this Certificate at the offices of the Certificate Registrar or
such other location specified in the notice to the Holder hereof of such final
distribution. Also notwithstanding the foregoing, any distribution that may be
made with respect to this Certificate in reimbursement of any Realized Loss or
Additional Trust Fund Expense previously allocated to this Certificate, which
reimbursement is to occur after the date on which this Certificate is
surrendered as contemplated by the preceding sentence, will be made by check
mailed to the address of the Holder that surrenders this Certificate as such
address last appears in the Certificate Register or to any such other address of
which the Paying Agent is subsequently notified in writing.

               The Certificates are limited in right of distribution to certain
collections and recoveries respecting the Mortgage Loans and REO Loans, all as
more specifically set forth herein and in the Agreement. As provided in the
Agreement, withdrawals from the Certificate Account, the Distribution Account
and, if established, the REO Account may be made from time to time for purposes
other than, and, in certain cases, prior to, distributions to
Certificateholders, such purposes including the reimbursement of Advances made,
or certain expenses incurred, with respect to the Mortgage Loans and the payment
of interest on such Advances and expenses.

               Interest accrued on this Certificate during an Interest Accrual
Period, plus any unpaid interest shortfall with respect to this Certificate for
any prior Distribution Date, if any, will be payable on the related Distribution
Date to the extent provided in the Agreement. The "Interest Accrual Period" with
respect to any Distribution Date and with respect to the Class H Certificates is
the calendar month preceding the month in which such Distribution Date occurs
and is assumed to consist of 30 days.

               Any distribution to the Holder of this Certificate in reduction
of the Certificate Principal Balance hereof is binding on such Holder and all
future Holders of this Certificate and any Certificate issued upon the transfer
hereof or in exchange herefor or in lieu hereof whether or not notation of such
distribution is made upon this Certificate.

               The Class H Certificates are issuable in fully registered form
only without coupons in minimum denominations specified in the Agreement. As
provided in the Agreement and subject to certain limitations therein set forth,
the Class H Certificates are exchangeable for new Class H Certificates in
authorized denominations evidencing the same aggregate Percentage Interest, as
requested by the Holder surrendering the same.

               As provided in the Agreement and subject to certain limitations
therein set forth, the transfer of this Certificate is registrable in the
Certificate Register upon surrender of this Certificate for registration of
transfer at the offices of the Certificate Registrar, duly endorsed by, or
accompanied by a written instrument of transfer in the form satisfactory to the
Certificate Registrar duly executed by, the Holder hereof or his attorney duly
authorized in writing, and thereupon one or more new Class H Certificates in
authorized denominations evidencing the same aggregate Percentage Interest will
be issued to the designated transferee or transferees.

               No transfer of any Class H Certificate shall be made unless that
transfer is made pursuant to an effective registration statement under the
Securities Act, and effective registration or qualification under applicable
state securities laws, or is made in a transaction which does not require such
registration or qualification. If such a transfer is to be made without
registration under the Securities Act (other than in connection with the initial
issuance thereof or the initial transfer thereof by the Depositor, the Initial
Purchaser or their respective affiliates), then the Certificate Registrar shall
refuse to register such transfer unless it receives either: (i) a certificate
from the Certificateholder desiring to effect such transfer substantially in the
form attached as Exhibit F-1 to the Agreement, and a certificate from such
Certificateholder's prospective transferee substantially in the form attached as
either Exhibit F-2, Exhibit F-3 Exhibit F-4, Exhibit F-5 or Exhibit F-6 to the
Agreement; or (ii) an Opinion of Counsel reasonably satisfactory to the
Certificate Registrar to the effect that such transfer may be made without
registration under the Securities Act (which Opinion of Counsel shall not be an
expense of the Trust Fund or of the Depositor, the Master Servicer, the Special
Servicer, the Trustee, the Paying Agent or the Certificate Registrar in their
respective capacities as such), together with the written certification(s) as to
the facts surrounding such transfer from the Certificateholder desiring to
effect such transfer and/or such Certificateholder's prospective transferee on
which such Opinion of Counsel is based. None of the Depositor, the Trustee, the
Paying Agent or the Certificate Registrar is obligated to register or qualify
the Class H Certificates under the Securities Act or any other securities law or
to take any action not otherwise required under the Agreement to permit the
transfer of any Class H Certificate without registration or qualification. Any
Class H Certificateholder desiring to effect such a transfer shall, and by the
acceptance of its Class H Certificate agrees to, indemnify the Trustee, the
Certificate Registrar, the Paying Agent and the Depositor against any liability
that may result if the transfer is not so exempt or is not made in accordance
with such federal and state laws.

               No service charge will be imposed for any registration of
transfer or exchange of Class H Certificates, but the Certificate Registrar may
require payment of a sum sufficient to cover any tax or other governmental
charge that may be imposed in connection with any transfer or exchange of Class
H Certificates.

               Notwithstanding the foregoing, for so long as this Certificate is
registered in the name of Cede & Co. or in such other name as is requested by an
authorized representative of DTC, transfers of interests in this Certificate
shall be made through the book-entry facilities of DTC.

               The Depositor, the Master Servicer, the Special Servicer, the
Trustee, the Paying Agent and the Certificate Registrar and any agent of the
Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying
Agent or the Certificate Registrar may treat the Person in whose name this
Certificate is registered as the owner hereof for all purposes whatsoever and
none of the Depositor, the Master Servicer, the Special Servicer, the Trustee,
the Paying Agent, the Certificate Registrar, or any such agent shall be affected
by notice to the contrary.

               The Trust Fund and the obligations created by the Agreement shall
terminate upon distribution (or provision for distribution) to the
Certificateholders of all amounts held by or on behalf of the Trustee and
required to be distributed to them pursuant to the Agreement following the
earlier to occur of (i) the final payment (or any advance with respect thereto)
or other liquidation of the last Mortgage Loan or REO Property remaining in the
Trust Fund, and (ii) the purchase by the Master Servicer, the Special Servicer
or the Majority Subordinate Certificateholder at a price determined as provided
in the Agreement of all Mortgage Loans and each REO Property remaining in the
Trust Fund. The Agreement permits, but does not require, the Master Servicer,
the Special Servicer or the Majority Subordinate Certificateholder to purchase
from the Trust Fund all Mortgage Loans and each REO Property remaining therein.
The exercise of such right will effect early retirement of the Class H
Certificates; however, such right to purchase is subject to the aggregate Stated
Principal Balance of the Mortgage Pool at the time of purchase being less than
1% of the aggregate Stated Principal Balance of the Mortgage Loans as of the
Cut-Off Date specified on the face hereof.

               In addition, any exchange by any Certificateholder of all of the
then outstanding Certificates (other than the Class Z, Class R-I and Class R-II
Certificates) for all of the Mortgage Loans and each REO Property remaining in
the Trust Fund may be made: (i) if the then outstanding Certificates (other than
the Class Z, Class R-I and Class R-II Certificates) are held by a single
Certificateholder and (ii) the Class A-1, Class A-2, Class A-3, Class A-PB,
Class A-4, Class A-1A, Class A-M, Class A-J, Class B, Class C, Class D and Class
E Certificates have been paid in full.

               The Agreement permits, with certain exceptions therein provided,
the amendment thereof and the modification of the rights and obligations of the
Depositor, the Master Servicer, the Special Servicer and the Trustee and the
rights of the Certificateholders under the Agreement at any time by the
Depositor, the Master Servicer, the Special Servicer and the Trustee with the
consent of the Holders of Certificates entitled to at least 51% of the Voting
Rights allocated to the affected Classes. Any such consent by the Holder of this
Certificate shall be conclusive and binding on such Holder and upon all future
Holders of this Certificate and of any Certificate issued upon the transfer
hereof or in exchange herefor or in lieu hereof whether or not notation of such
consent is made upon this Certificate. The Agreement also permits the amendment
thereof, in certain limited circumstances, including any amendment necessary to
maintain the status of the Trust Fund (or designated portions thereof) as
consisting of two separate REMICs and one grantor trust, without the consent of
the Holders of any of the Certificates.

               Unless the certificate of authentication hereon has been executed
by the Certificate Registrar, by manual signature, this Certificate shall not be
entitled to any benefit under the Agreement or be valid for any purpose.

               The registered Holder hereof, by its acceptance hereof, agrees
that it will look solely to the Trust Fund (to the extent of its rights therein)
for distributions hereunder.

               This Certificate shall be construed in accordance with the
internal laws of the State of New York applicable to agreements made and to be
performed in said State, and the obligations, rights and remedies of the Holder
hereof shall be determined in accordance with such laws.

<PAGE>

               IN WITNESS WHEREOF, the Certificate Registrar has caused this
Certificate to be duly executed.

Dated: December 21, 2006

                                          WELLS FARGO BANK, N.A., as Certificate
                                              Registrar

                                          By: __________________________________
                                              Authorized Representative

                          CERTIFICATE OF AUTHENTICATION

               This is one of the Class H Certificates referred to in the
within-mentioned Agreement.

                                          WELLS FARGO BANK, N.A., as
                                              Authenticating Agent

                                          By: __________________________________
                                              Authorized Representative

<PAGE>

                                   ASSIGNMENT

               FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and
transfer(s) unto ________________________________________________________
(please print or typewrite name and address including postal zip code of
assignee) the beneficial ownership interest in the Trust Fund evidenced by the
within Commercial Mortgage Pass-Through Certificate and hereby authorize(s) the
registration of transfer of such interest to assignee on the Certificate
Register of the Trust Fund.

               I (we) further direct the Certificate Registrar to issue a new
Commercial Mortgage Pass-Through Certificate of a like Percentage Interest and
Class to the above named assignee and deliver such Commercial Mortgage
Pass-Through Certificate to the following address:
_________________________________________________________________________.

Dated: _________________________

                                          ______________________________________
                                           Signature by or on behalf of Assignor

                                          ______________________________________
                                                  Signature Guaranteed

<PAGE>

                            DISTRIBUTION INSTRUCTIONS

               The Assignee should include the following for purposes of
distribution:

               Distributions shall, if permitted, be made by wire transfer or
otherwise, in immediately available funds, to _____________________________ for
the account of _______________.

               Distributions made by check (such check to be made payable to
_____________________) and all applicable statements and notices should be
mailed to _____________________________.

               This information is provided by ________________________________,
the Assignee named above, or ____________________________________, as its agent.

<PAGE>

                                 EXHIBIT A-16-2

                           FORM OF CLASS H CERTIFICATE

              CLASS H COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATE,
                                 SERIES 2006-C29

evidencing a beneficial ownership interest in a trust fund (the "Trust Fund")
consisting primarily of a pool of multifamily and commercial mortgage loans (the
"Mortgage Loans"), such pool being formed and sold by

                     WACHOVIA BANK COMMERCIAL MORTGAGE TRUST

Pass-Through Rate: Variable                  Class Principal Balance of the
                                             Class H Certificates as of the
                                             Closing Date: $33,713,000

Date of Pooling and Servicing Agreement:     Initial Certificate Principal
as of 1, 2006                                Balance of this Class H Certificate
                                             as of the Closing Date: $0

Closing Date: December 21, 2006              Aggregate Stated Principal Balance
                                             of the Mortgage Loans as of the
                                             Cut-Off Date: $3,371,274,173

First Distribution Date: January 18, 2007

Master Servicer: Wachovia Bank, National     Trustee: Wells Fargo Bank, N.A.
Association

Special Servicer: LNR Partners, Inc.

Certificate No. H-2                          CUSIP No. [_]

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST CORPORATION, A NEW YORK CORPORATION ("DTC"), TO THE DEPOSITOR,
THE MASTER SERVICER, THE TRUSTEE, THE CERTIFICATE REGISTRAR OR ANY AGENT THEREOF
FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED
IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO
SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY
TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON
IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
HEREIN.

THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN WACHOVIA
COMMERCIAL MORTGAGE SECURITIES, INC., WELLS FARGO BANK, N.A., LNR PARTNERS,
INC., WACHOVIA BANK, NATIONAL ASSOCIATION OR ANY OF THEIR RESPECTIVE AFFILIATES.
NEITHER THIS CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS ARE GUARANTEED BY ANY
AGENCY OR INSTRUMENTALITY OF THE UNITED STATES OR ANY OTHER PERSON.

THIS CERTIFICATE HAS NOT BEEN REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT
OF 1933 (THE "SECURITIES ACT") OR THE SECURITIES LAWS OF ANY STATE. ANY RESALE,
TRANSFER OR OTHER DISPOSITION OF THIS CERTIFICATE WITHOUT SUCH REGISTRATION OR
QUALIFICATION MAY BE MADE ONLY IN A TRANSACTION WHICH DOES NOT REQUIRE SUCH
REGISTRATION OR QUALIFICATION AND IN ACCORDANCE WITH THE PROVISIONS OF SECTION
5.02 OF THE AGREEMENT REFERRED TO HEREIN.

SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE IS A "REGULAR
INTEREST" IN A "REAL ESTATE MORTGAGE INVESTMENT CONDUIT" (A "REMIC") AS THOSE
TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL
REVENUE CODE OF 1986 (THE "CODE").

THIS CERTIFICATE IS SUBORDINATE TO THE CLASS A-1 CERTIFICATES, THE CLASS A-2
CERTIFICATES, THE CLASS A-3 CERTIFICATES, THE CLASS A-PB CERTIFICATES, THE CLASS
A-4 CERTIFICATES, THE CLASS A-1A CERTIFICATES, THE CLASS A-M CERTIFICATES, THE
CLASS A-J CERTIFICATES, THE CLASS B CERTIFICATES, THE CLASS C CERTIFICATES, THE
CLASS D CERTIFICATES, THE CLASS E CERTIFICATES, THE CLASS F CERTIFICATES AND THE
CLASS G CERTIFICATES OF THE SAME SERIES TO THE EXTENT DESCRIBED IN THE AGREEMENT
REFERRED TO HEREIN.

IF THE AGGREGATE CERTIFICATE PRINCIPAL BALANCE OF THE CLASS A-1 CERTIFICATES,
THE CLASS A-2 CERTIFICATES, THE CLASS A-3 CERTIFICATES, THE CLASS A-PB
CERTIFICATES, THE CLASS A-4 CERTIFICATES, THE CLASS A-1A CERTIFICATES, THE CLASS
A-M CERTIFICATES, THE CLASS A-J CERTIFICATES, THE CLASS B CERTIFICATES, THE
CLASS C CERTIFICATES, THE CLASS D CERTIFICATES, THE CLASS E CERTIFICATES, THE
CLASS F CERTIFICATES AND THE CLASS G CERTIFICATES OF THE SAME SERIES IS REDUCED
TO ZERO, DISTRIBUTIONS IN REDUCTION OF THE CERTIFICATE PRINCIPAL BALANCE OF THIS
CERTIFICATE MAY BE MADE MONTHLY AS SET FORTH IN THE POOLING AND SERVICING
AGREEMENT REFERRED TO HEREIN. IN ADDITION, IF THE AGGREGATE CERTIFICATE
PRINCIPAL BALANCE OF THE CLASS J, CLASS K, CLASS L, CLASS M, CLASS N, CLASS O,
CLASS P AND CLASS Q CERTIFICATES OF THE SAME SERIES IS REDUCED TO ZERO, THE
CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE MAY BE REDUCED BY CERTAIN
LOSSES AND EXPENSES EXPERIENCED BY THE TRUST FUND AS SET FORTH IN THE AGREEMENT
REFERRED TO HEREIN. ACCORDINGLY, THE OUTSTANDING CERTIFICATE PRINCIPAL BALANCE
HEREOF AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ABOVE.

               This certifies that Cede & Co. is the registered owner of the
Percentage Interest evidenced by this Class H Certificate (obtained by dividing
the principal amount of this Class H Certificate (its "Certificate Principal
Balance") as of the Closing Date by the aggregate principal amount of all the
Class H Certificates (their "Class Principal Balance") as of the Closing Date)
in that certain beneficial ownership interest evidenced by all the Class H
Certificates in the Trust Fund created pursuant to a Pooling and Servicing
Agreement, dated as specified above (the "Agreement"), among Wachovia Commercial
Mortgage Securities, Inc. (herein called the "Depositor", which term includes
any successor entity under the Agreement), Wachovia Bank, National Association
(herein called the "Master Servicer", which term includes any successor entity
under the Agreement), LNR Partners, Inc. (herein called the "Special Servicer",
which term includes any successor entity under the Agreement) and Wells Fargo
Bank, N.A. (herein called the "Trustee", which term includes any successor
entity under the Agreement), a summary of certain of the pertinent provisions of
which is set forth hereafter. To the extent not defined herein, the capitalized
terms used herein have the respective meanings assigned in the Agreement. This
Certificate is issued under and is subject to the terms, provisions and
conditions of the Agreement, to which Agreement the Holder of this Certificate
by virtue of the acceptance hereof assents and by which such Holder is bound.

               Pursuant to the terms of the Agreement, distributions will be
made on the fourth Business Day following the related Determination Date (each,
a "Distribution Date"). The Determination Date is the 11th day of each month or,
if such 11th day is not a Business Day, the Business Day immediately succeeding,
commencing in January 2007 (each, a "Determination Date"). Distributions will be
made commencing on the first Distribution Date specified above, to the Person in
whose name this Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such distribution
(the "Record Date"), in an amount equal to the product of the Percentage
Interest evidenced by this Certificate and the amount required to be distributed
to the Holders of the Class H Certificates on the applicable Distribution Date
pursuant to the Agreement. All distributions made under the Agreement on the
Class H Certificates will be made by Wells Fargo Bank, N.A., as paying agent
(the "Paying Agent"), by wire transfer of immediately available funds to the
account of the Person entitled thereto at a bank or other entity having
appropriate facilities therefor, if such Certificateholder shall have provided
the Paying Agent with wiring instructions no less than five Business Days prior
to the related Record Date (which wiring instructions may be in the form of a
standing order applicable to all subsequent distributions), or otherwise by
check mailed to the address of such Certificateholder as it appears in the
Certificate Register. Notwithstanding the foregoing, the final distribution on
this Certificate (determined without regard to any possible future reimbursement
of any Realized Loss or Additional Trust Fund Expense previously allocated to
this Certificate) will be made in like manner, but only upon presentation and
surrender of this Certificate at the offices of the Certificate Registrar or
such other location specified in the notice to the Holder hereof of such final
distribution. Also notwithstanding the foregoing, any distribution that may be
made with respect to this Certificate in reimbursement of any Realized Loss or
Additional Trust Fund Expense previously allocated to this Certificate, which
reimbursement is to occur after the date on which this Certificate is
surrendered as contemplated by the preceding sentence, will be made by check
mailed to the address of the Holder that surrenders this Certificate as such
address last appears in the Certificate Register or to any such other address of
which the Paying Agent is subsequently notified in writing.

               The Certificates are limited in right of distribution to certain
collections and recoveries respecting the Mortgage Loans and REO Loans, all as
more specifically set forth herein and in the Agreement. As provided in the
Agreement, withdrawals from the Certificate Account, the Distribution Account
and, if established, the REO Account may be made from time to time for purposes
other than, and, in certain cases, prior to, distributions to
Certificateholders, such purposes including the reimbursement of Advances made,
or certain expenses incurred, with respect to the Mortgage Loans and the payment
of interest on such Advances and expenses.

               Interest accrued on this Certificate during an Interest Accrual
Period, plus any unpaid interest shortfall with respect to this Certificate for
any prior Distribution Date, if any, will be payable on the related Distribution
Date to the extent provided in the Agreement. The "Interest Accrual Period" with
respect to any Distribution Date and with respect to the Class H Certificates is
the calendar month preceding the month in which such Distribution Date occurs
and is assumed to consist of 30 days.

               Any distribution to the Holder of this Certificate in reduction
of the Certificate Principal Balance hereof is binding on such Holder and all
future Holders of this Certificate and any Certificate issued upon the transfer
hereof or in exchange herefor or in lieu hereof whether or not notation of such
distribution is made upon this Certificate.

               The Class H Certificates are issuable in fully registered form
only without coupons in minimum denominations specified in the Agreement. As
provided in the Agreement and subject to certain limitations therein set forth,
the Class H Certificates are exchangeable for new Class H Certificates in
authorized denominations evidencing the same aggregate Percentage Interest, as
requested by the Holder surrendering the same.

               As provided in the Agreement and subject to certain limitations
therein set forth, the transfer of this Certificate is registrable in the
Certificate Register upon surrender of this Certificate for registration of
transfer at the offices of the Certificate Registrar, duly endorsed by, or
accompanied by a written instrument of transfer in the form satisfactory to the
Certificate Registrar duly executed by, the Holder hereof or his attorney duly
authorized in writing, and thereupon one or more new Class H Certificates in
authorized denominations evidencing the same aggregate Percentage Interest will
be issued to the designated transferee or transferees.

               No transfer of any Class H Certificate shall be made unless that
transfer is made pursuant to an effective registration statement under the
Securities Act, and effective registration or qualification under applicable
state securities laws, or is made in a transaction which does not require such
registration or qualification. If such a transfer is to be made without
registration under the Securities Act (other than in connection with the initial
issuance thereof or the initial transfer thereof by the Depositor, the Initial
Purchaser or their respective affiliates), then the Certificate Registrar shall
refuse to register such transfer unless it receives either: (i) a certificate
from the Certificateholder desiring to effect such transfer substantially in the
form attached as Exhibit F-1 to the Agreement, and a certificate from such
Certificateholder's prospective transferee substantially in the form attached as
either Exhibit F-2, Exhibit F-3 Exhibit F-4, Exhibit F-5 or Exhibit F-6 to the
Agreement; or (ii) an Opinion of Counsel reasonably satisfactory to the
Certificate Registrar to the effect that such transfer may be made without
registration under the Securities Act (which Opinion of Counsel shall not be an
expense of the Trust Fund or of the Depositor, the Master Servicer, the Special
Servicer, the Trustee, the Paying Agent or the Certificate Registrar in their
respective capacities as such), together with the written certification(s) as to
the facts surrounding such transfer from the Certificateholder desiring to
effect such transfer and/or such Certificateholder's prospective transferee on
which such Opinion of Counsel is based. None of the Depositor, the Trustee, the
Paying Agent or the Certificate Registrar is obligated to register or qualify
the Class H Certificates under the Securities Act or any other securities law or
to take any action not otherwise required under the Agreement to permit the
transfer of any Class H Certificate without registration or qualification. Any
Class H Certificateholder desiring to effect such a transfer shall, and by the
acceptance of its Class H Certificate agrees to, indemnify the Trustee, the
Certificate Registrar, the Paying Agent and the Depositor against any liability
that may result if the transfer is not so exempt or is not made in accordance
with such federal and state laws.

               No service charge will be imposed for any registration of
transfer or exchange of Class H Certificates, but the Certificate Registrar may
require payment of a sum sufficient to cover any tax or other governmental
charge that may be imposed in connection with any transfer or exchange of Class
H Certificates.

               Notwithstanding the foregoing, for so long as this Certificate is
registered in the name of Cede & Co. or in such other name as is requested by an
authorized representative of DTC, transfers of interests in this Certificate
shall be made through the book-entry facilities of DTC.

               The Depositor, the Master Servicer, the Special Servicer, the
Trustee, the Paying Agent and the Certificate Registrar and any agent of the
Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying
Agent or the Certificate Registrar may treat the Person in whose name this
Certificate is registered as the owner hereof for all purposes whatsoever and
none of the Depositor, the Master Servicer, the Special Servicer, the Trustee,
the Paying Agent, the Certificate Registrar, or any such agent shall be affected
by notice to the contrary.

               The Trust Fund and the obligations created by the Agreement shall
terminate upon distribution (or provision for distribution) to the
Certificateholders of all amounts held by or on behalf of the Trustee and
required to be distributed to them pursuant to the Agreement following the
earlier to occur of (i) the final payment (or any advance with respect thereto)
or other liquidation of the last Mortgage Loan or REO Property remaining in the
Trust Fund, and (ii) the purchase by the Master Servicer, the Special Servicer
or the Majority Subordinate Certificateholder at a price determined as provided
in the Agreement of all Mortgage Loans and each REO Property remaining in the
Trust Fund. The Agreement permits, but does not require, the Master Servicer,
the Special Servicer or the Majority Subordinate Certificateholder to purchase
from the Trust Fund all Mortgage Loans and each REO Property remaining therein.
The exercise of such right will effect early retirement of the Class H
Certificates; however, such right to purchase is subject to the aggregate Stated
Principal Balance of the Mortgage Pool at the time of purchase being less than
1% of the aggregate Stated Principal Balance of the Mortgage Loans as of the
Cut-Off Date specified on the face hereof.

               In addition, any exchange by any Certificateholder of all of the
then outstanding Certificates (other than the Class Z, Class R-I and Class R-II
Certificates) for all of the Mortgage Loans and each REO Property remaining in
the Trust Fund may be made: (i) if the then outstanding Certificates (other than
the Class Z, Class R-I and Class R-II Certificates) are held by a single
Certificateholder and (ii) the Class A-1, Class A-2, Class A-3, Class A-PB,
Class A-4, Class A-1A, Class A-M, Class A-J, Class B, Class C, Class D and Class
E Certificates have been paid in full.

               The Agreement permits, with certain exceptions therein provided,
the amendment thereof and the modification of the rights and obligations of the
Depositor, the Master Servicer, the Special Servicer and the Trustee and the
rights of the Certificateholders under the Agreement at any time by the
Depositor, the Master Servicer, the Special Servicer and the Trustee with the
consent of the Holders of Certificates entitled to at least 51% of the Voting
Rights allocated to the affected Classes. Any such consent by the Holder of this
Certificate shall be conclusive and binding on such Holder and upon all future
Holders of this Certificate and of any Certificate issued upon the transfer
hereof or in exchange herefor or in lieu hereof whether or not notation of such
consent is made upon this Certificate. The Agreement also permits the amendment
thereof, in certain limited circumstances, including any amendment necessary to
maintain the status of the Trust Fund (or designated portions thereof) as
consisting of two separate REMICs and one grantor trust, without the consent of
the Holders of any of the Certificates.

               Unless the certificate of authentication hereon has been executed
by the Certificate Registrar, by manual signature, this Certificate shall not be
entitled to any benefit under the Agreement or be valid for any purpose.

               The registered Holder hereof, by its acceptance hereof, agrees
that it will look solely to the Trust Fund (to the extent of its rights therein)
for distributions hereunder.

               This Certificate shall be construed in accordance with the
internal laws of the State of New York applicable to agreements made and to be
performed in said State, and the obligations, rights and remedies of the Holder
hereof shall be determined in accordance with such laws.

<PAGE>

               IN WITNESS WHEREOF, the Certificate Registrar has caused this
Certificate to be duly executed.

Dated: December 21, 2006

                                          WELLS FARGO BANK, N.A., as Certificate
                                              Registrar

                                          By: __________________________________
                                              Authorized Representative

                          CERTIFICATE OF AUTHENTICATION

               This is one of the Class H Certificates referred to in the
within-mentioned Agreement.

                                          WELLS FARGO BANK, N.A., as
                                              Authenticating Agent

                                          By: __________________________________
                                              Authorized Representative

<PAGE>

                                   ASSIGNMENT

               FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and
transfer(s) unto ________________________________________________________
(please print or typewrite name and address including postal zip code of
assignee) the beneficial ownership interest in the Trust Fund evidenced by the
within Commercial Mortgage Pass-Through Certificate and hereby authorize(s) the
registration of transfer of such interest to assignee on the Certificate
Register of the Trust Fund.

               I (we) further direct the Certificate Registrar to issue a new
Commercial Mortgage Pass-Through Certificate of a like Percentage Interest and
Class to the above named assignee and deliver such Commercial Mortgage
Pass-Through Certificate to the following address:
_________________________________________________________________________.

Dated: _________________________

                                          ______________________________________
                                           Signature by or on behalf of Assignor

                                          ______________________________________
                                                  Signature Guaranteed

<PAGE>

                            DISTRIBUTION INSTRUCTIONS

               The Assignee should include the following for purposes of
distribution:

               Distributions shall, if permitted, be made by wire transfer or
otherwise, in immediately available funds, to _____________________________ for
the account of _______________.

               Distributions made by check (such check to be made payable to
_____________________) and all applicable statements and notices should be
mailed to _____________________________.

               This information is provided by ________________________________,
the Assignee named above, or ____________________________________, as its agent.

<PAGE>

                                 EXHIBIT A-17-1

                           FORM OF CLASS J CERTIFICATE

              CLASS J COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATE,
                                 SERIES 2006-C29

evidencing a beneficial ownership interest in a trust fund (the "Trust Fund")
consisting primarily of a pool of multifamily and commercial mortgage loans (the
"Mortgage Loans"), such pool being formed and sold by

                     WACHOVIA BANK COMMERCIAL MORTGAGE TRUST

Pass-Through Rate: Variable                  Class Principal Balance of the
                                             Class J Certificates as of the
                                             Closing Date: $37,927,000

Date of Pooling and Servicing Agreement:     Initial Certificate Principal
as of December 1, 2006                       Balance of this Class J Certificate
                                             as of the Closing Date: $37,927,000

Closing Date: December 21, 2006              Aggregate Stated Principal Balance
                                             of the Mortgage Loans as of the
                                             Cut-Off Date: $3,371,274,173

First Distribution Date: January 18, 2007

Master Servicer: Wachovia Bank, National     Trustee: Wells Fargo Bank, N.A.
Association

Special Servicer: LNR Partners, Inc.

Certificate No. J-1                          CUSIP No. [_]

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST CORPORATION, A NEW YORK CORPORATION ("DTC"), TO THE DEPOSITOR,
THE MASTER SERVICER, THE TRUSTEE, THE CERTIFICATE REGISTRAR OR ANY AGENT THEREOF
FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED
IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO
SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY
TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON
IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
HEREIN.

THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN WACHOVIA
COMMERCIAL MORTGAGE SECURITIES, INC., WELLS FARGO BANK, N.A., LNR PARTNERS,
INC., WACHOVIA BANK, NATIONAL ASSOCIATION OR ANY OF THEIR RESPECTIVE AFFILIATES.
NEITHER THIS CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS ARE GUARANTEED BY ANY
AGENCY OR INSTRUMENTALITY OF THE UNITED STATES OR ANY OTHER PERSON.

THIS CERTIFICATE HAS NOT BEEN REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT
OF 1933 (THE "SECURITIES ACT") OR THE SECURITIES LAWS OF ANY STATE. ANY RESALE,
TRANSFER OR OTHER DISPOSITION OF THIS CERTIFICATE WITHOUT SUCH REGISTRATION OR
QUALIFICATION MAY BE MADE ONLY IN A TRANSACTION WHICH DOES NOT REQUIRE SUCH
REGISTRATION OR QUALIFICATION AND IN ACCORDANCE WITH THE PROVISIONS OF SECTION
5.02 OF THE AGREEMENT REFERRED TO HEREIN.

SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE IS A "REGULAR
INTEREST" IN A "REAL ESTATE MORTGAGE INVESTMENT CONDUIT" (A "REMIC") AS THOSE
TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL
REVENUE CODE OF 1986 (THE "CODE").

THIS CERTIFICATE IS SUBORDINATE TO THE CLASS A-1 CERTIFICATES, THE CLASS A-2
CERTIFICATES, THE CLASS A-3 CERTIFICATES, THE CLASS A-PB CERTIFICATES, THE CLASS
A-4 CERTIFICATES, THE CLASS A-1A CERTIFICATES, THE CLASS A-M CERTIFICATES, THE
CLASS A-J CERTIFICATES, THE CLASS B CERTIFICATES, THE CLASS C CERTIFICATES, THE
CLASS D CERTIFICATES, THE CLASS E CERTIFICATES, THE CLASS F CERTIFICATES, THE
CLASS G CERTIFICATES AND THE CLASS H CERTIFICATES OF THE SAME SERIES TO THE
EXTENT DESCRIBED IN THE AGREEMENT REFERRED TO HEREIN.

IF THE AGGREGATE CERTIFICATE PRINCIPAL BALANCE OF THE CLASS A-1 CERTIFICATES,
THE CLASS A-2 CERTIFICATES, THE CLASS A-3 CERTIFICATES, THE CLASS A-PB
CERTIFICATES, THE CLASS A-4 CERTIFICATES, THE CLASS A-1A CERTIFICATES, THE CLASS
A-M CERTIFICATES, THE CLASS A-J CERTIFICATES, THE CLASS B CERTIFICATES, THE
CLASS C CERTIFICATES, THE CLASS D CERTIFICATES, THE CLASS E CERTIFICATES, THE
CLASS F CERTIFICATES, THE CLASS G CERTIFICATES AND THE CLASS H CERTIFICATES OF
THE SAME SERIES IS REDUCED TO ZERO, DISTRIBUTIONS IN REDUCTION OF THE
CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE MAY BE MADE MONTHLY AS SET
FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN. IN ADDITION, IF
THE AGGREGATE CERTIFICATE PRINCIPAL BALANCE OF THE CLASS K, CLASS L, CLASS M,
CLASS N, CLASS O, CLASS P AND CLASS Q CERTIFICATES OF THE SAME SERIES IS REDUCED
TO ZERO, THE CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE MAY BE REDUCED BY
CERTAIN LOSSES AND EXPENSES EXPERIENCED BY THE TRUST FUND AS SET FORTH IN THE
AGREEMENT REFERRED TO HEREIN. ACCORDINGLY, THE OUTSTANDING CERTIFICATE PRINCIPAL
BALANCE HEREOF AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ABOVE.

               This certifies that Cede & Co. is the registered owner of the
Percentage Interest evidenced by this Class J Certificate (obtained by dividing
the principal amount of this Class J Certificate (its "Certificate Principal
Balance") as of the Closing Date by the aggregate principal amount of all the
Class J Certificates (their "Class Principal Balance") as of the Closing Date)
in that certain beneficial ownership interest evidenced by all the Class J
Certificates in the Trust Fund created pursuant to a Pooling and Servicing
Agreement, dated as specified above (the "Agreement"), among Wachovia Commercial
Mortgage Securities, Inc. (herein called the "Depositor", which term includes
any successor entity under the Agreement), Wachovia Bank, National Association
(herein called the "Master Servicer", which term includes any successor entity
under the Agreement), LNR Partners, Inc. (herein called the "Special Servicer",
which term includes any successor entity under the Agreement) and Wells Fargo
Bank, N.A. (herein called the "Trustee", which term includes any successor
entity under the Agreement), a summary of certain of the pertinent provisions of
which is set forth hereafter. To the extent not defined herein, the capitalized
terms used herein have the respective meanings assigned in the Agreement. This
Certificate is issued under and is subject to the terms, provisions and
conditions of the Agreement, to which Agreement the Holder of this Certificate
by virtue of the acceptance hereof assents and by which such Holder is bound.

               Pursuant to the terms of the Agreement, distributions will be
made on the fourth Business Day following the related Determination Date (each,
a "Distribution Date"). The Determination Date is the 11th day of each month or,
if such 11th day is not a Business Day, the Business Day immediately succeeding,
commencing in January 2007 (each, a "Determination Date"). Distributions will be
made commencing on the first Distribution Date specified above, to the Person in
whose name this Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such distribution
(the "Record Date"), in an amount equal to the product of the Percentage
Interest evidenced by this Certificate and the amount required to be distributed
to the Holders of the Class J Certificates on the applicable Distribution Date
pursuant to the Agreement. All distributions made under the Agreement on the
Class J Certificates will be made by Wells Fargo Bank, N.A., as paying agent
(the "Paying Agent"), by wire transfer of immediately available funds to the
account of the Person entitled thereto at a bank or other entity having
appropriate facilities therefor, if such Certificateholder shall have provided
the Paying Agent with wiring instructions no less than five Business Days prior
to the related Record Date (which wiring instructions may be in the form of a
standing order applicable to all subsequent distributions), or otherwise by
check mailed to the address of such Certificateholder as it appears in the
Certificate Register. Notwithstanding the foregoing, the final distribution on
this Certificate (determined without regard to any possible future reimbursement
of any Realized Loss or Additional Trust Fund Expense previously allocated to
this Certificate) will be made in like manner, but only upon presentation and
surrender of this Certificate at the offices of the Certificate Registrar or
such other location specified in the notice to the Holder hereof of such final
distribution. Also notwithstanding the foregoing, any distribution that may be
made with respect to this Certificate in reimbursement of any Realized Loss or
Additional Trust Fund Expense previously allocated to this Certificate, which
reimbursement is to occur after the date on which this Certificate is
surrendered as contemplated by the preceding sentence, will be made by check
mailed to the address of the Holder that surrenders this Certificate as such
address last appears in the Certificate Register or to any such other address of
which the Paying Agent is subsequently notified in writing.

               The Certificates are limited in right of distribution to certain
collections and recoveries respecting the Mortgage Loans and REO Loans, all as
more specifically set forth herein and in the Agreement. As provided in the
Agreement, withdrawals from the Certificate Account, the Distribution Account
and, if established, the REO Account may be made from time to time for purposes
other than, and, in certain cases, prior to, distributions to
Certificateholders, such purposes including the reimbursement of Advances made,
or certain expenses incurred, with respect to the Mortgage Loans and the payment
of interest on such Advances and expenses.

               Interest accrued on this Certificate during an Interest Accrual
Period, plus any unpaid interest shortfall with respect to this Certificate for
any prior Distribution Date, if any, will be payable on the related Distribution
Date to the extent provided in the Agreement. The "Interest Accrual Period" with
respect to any Distribution Date and with respect to the Class J Certificates is
the calendar month preceding the month in which such Distribution Date occurs
and is assumed to consist of 30 days.

               Any distribution to the Holder of this Certificate in reduction
of the Certificate Principal Balance hereof is binding on such Holder and all
future Holders of this Certificate and any Certificate issued upon the transfer
hereof or in exchange herefor or in lieu hereof whether or not notation of such
distribution is made upon this Certificate.

               The Class J Certificates are issuable in fully registered form
only without coupons in minimum denominations specified in the Agreement. As
provided in the Agreement and subject to certain limitations therein set forth,
the Class J Certificates are exchangeable for new Class J Certificates in
authorized denominations evidencing the same aggregate Percentage Interest, as
requested by the Holder surrendering the same.

               As provided in the Agreement and subject to certain limitations
therein set forth, the transfer of this Certificate is registrable in the
Certificate Register upon surrender of this Certificate for registration of
transfer at the offices of the Certificate Registrar, duly endorsed by, or
accompanied by a written instrument of transfer in the form satisfactory to the
Certificate Registrar duly executed by, the Holder hereof or his attorney duly
authorized in writing, and thereupon one or more new Class J Certificates in
authorized denominations evidencing the same aggregate Percentage Interest will
be issued to the designated transferee or transferees.

               No transfer of any Class J Certificate shall be made unless that
transfer is made pursuant to an effective registration statement under the
Securities Act, and effective registration or qualification under applicable
state securities laws, or is made in a transaction which does not require such
registration or qualification. If such a transfer is to be made without
registration under the Securities Act (other than in connection with the initial
issuance thereof or the initial transfer thereof by the Depositor, the Initial
Purchaser or their respective affiliates), then the Certificate Registrar shall
refuse to register such transfer unless it receives either: (i) a certificate
from the Certificateholder desiring to effect such transfer substantially in the
form attached as Exhibit F-1 to the Agreement, and a certificate from such
Certificateholder's prospective transferee substantially in the form attached as
either Exhibit F-2, Exhibit F-3, Exhibit F-4, Exhibit F-5 or Exhibit F-6 to the
Agreement; or (ii) an Opinion of Counsel reasonably satisfactory to the
Certificate Registrar to the effect that such transfer may be made without
registration under the Securities Act (which Opinion of Counsel shall not be an
expense of the Trust Fund or of the Depositor, the Master Servicer, the Special
Servicer, the Trustee, the Paying Agent or the Certificate Registrar in their
respective capacities as such), together with the written certification(s) as to
the facts surrounding such transfer from the Certificateholder desiring to
effect such transfer and/or such Certificateholder's prospective transferee on
which such Opinion of Counsel is based. None of the Depositor, the Trustee,
Paying Agent or the Certificate Registrar is obligated to register or qualify
the Class J Certificates under the Securities Act or any other securities law or
to take any action not otherwise required under the Agreement to permit the
transfer of any Class J Certificate without registration or qualification. Any
Class J Certificateholder desiring to effect such a transfer shall, and by the
acceptance of its Class J Certificate agrees to, indemnify the Trustee, the
Certificate Registrar, the Paying Agent and the Depositor against any liability
that may result if the transfer is not so exempt or is not made in accordance
with such federal and state laws.

               No service charge will be imposed for any registration of
transfer or exchange of Class J Certificates, but the Certificate Registrar may
require payment of a sum sufficient to cover any tax or other governmental
charge that may be imposed in connection with any transfer or exchange of Class
J Certificates.

               Notwithstanding the foregoing, for so long as this Certificate is
registered in the name of Cede & Co. or in such other name as is requested by an
authorized representative of DTC, transfers of interests in this Certificate
shall be made through the book-entry facilities of DTC.

               The Depositor, the Master Servicer, the Special Servicer, the
Trustee, the Paying Agent and the Certificate Registrar and any agent of the
Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying
Agent or the Certificate Registrar may treat the Person in whose name this
Certificate is registered as the owner hereof for all purposes whatsoever and
none of the Depositor, the Master Servicer, the Special Servicer, the Trustee,
the Paying Agent, the Certificate Registrar, or any such agent shall be affected
by notice to the contrary.

               The Trust Fund and the obligations created by the Agreement shall
terminate upon distribution (or provision for distribution) to the
Certificateholders of all amounts held by or on behalf of the Trustee and
required to be distributed to them pursuant to the Agreement following the
earlier to occur of (i) the final payment (or any advance with respect thereto)
or other liquidation of the last Mortgage Loan or REO Property remaining in the
Trust Fund, and (ii) the purchase by the Master Servicer, the Special Servicer
or the Majority Subordinate Certificateholder at a price determined as provided
in the Agreement of all Mortgage Loans and each REO Property remaining in the
Trust Fund. The Agreement permits, but does not require, the Master Servicer,
the Special Servicer or the Majority Subordinate Certificateholder to purchase
from the Trust Fund all Mortgage Loans and each REO Property remaining therein.
The exercise of such right will effect early retirement of the Class J
Certificates; however, such right to purchase is subject to the aggregate Stated
Principal Balance of the Mortgage Pool at the time of purchase being less than
1% of the aggregate Stated Principal Balance of the Mortgage Loans as of the
Cut-Off Date specified on the face hereof.

               In addition, any exchange by any Certificateholder of all of the
then outstanding Certificates (other than the Class Z, Class R-I and Class R-II
Certificates) for all of the Mortgage Loans and each REO Property remaining in
the Trust Fund may be made: (i) if the then outstanding Certificates (other than
the Class Z, Class R-I and Class R-II Certificates) are held by a single
Certificateholder and (ii) the Class A-1, Class A-2, Class A-3, Class A-PB,
Class A-4, Class A-1A, Class A-M, Class A-J, Class B, Class C, Class D and Class
E Certificates have been paid in full.

               The Agreement permits, with certain exceptions therein provided,
the amendment thereof and the modification of the rights and obligations of the
Depositor, the Master Servicer, the Special Servicer and the Trustee and the
rights of the Certificateholders under the Agreement at any time by the
Depositor, the Master Servicer, the Special Servicer and the Trustee with the
consent of the Holders of Certificates entitled to at least 51% of the Voting
Rights allocated to the affected Classes. Any such consent by the Holder of this
Certificate shall be conclusive and binding on such Holder and upon all future
Holders of this Certificate and of any Certificate issued upon the transfer
hereof or in exchange herefor or in lieu hereof whether or not notation of such
consent is made upon this Certificate. The Agreement also permits the amendment
thereof, in certain limited circumstances, including any amendment necessary to
maintain the status of the Trust Fund (or designated portions thereof) as
consisting of two separate REMICs and one grantor trust, without the consent of
the Holders of any of the Certificates.

               Unless the certificate of authentication hereon has been executed
by the Certificate Registrar, by manual signature, this Certificate shall not be
entitled to any benefit under the Agreement or be valid for any purpose.

               The registered Holder hereof, by its acceptance hereof, agrees
that it will look solely to the Trust Fund (to the extent of its rights therein)
for distributions hereunder.

               This Certificate shall be construed in accordance with the
internal laws of the State of New York applicable to agreements made and to be
performed in said State, and the obligations, rights and remedies of the Holder
hereof shall be determined in accordance with such laws.

<PAGE>

               IN WITNESS WHEREOF, the Certificate Registrar has caused this
Certificate to be duly executed.

Dated: December 21, 2006

                                          WELLS FARGO BANK, N.A., as Certificate
                                              Registrar

                                          By: __________________________________
                                              Authorized Representative

                          CERTIFICATE OF AUTHENTICATION

               This is one of the Class J Certificates referred to in the
within-mentioned Agreement.

                                          WELLS FARGO BANK, N.A., as
                                              Authenticating Agent

                                          By: __________________________________
                                              Authorized Representative

<PAGE>

                                   ASSIGNMENT

               FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and
transfer(s) unto ________________________________________________________
(please print or typewrite name and address including postal zip code of
assignee) the beneficial ownership interest in the Trust Fund evidenced by the
within Commercial Mortgage Pass-Through Certificate and hereby authorize(s) the
registration of transfer of such interest to assignee on the Certificate
Register of the Trust Fund.

               I (we) further direct the Certificate Registrar to issue a new
Commercial Mortgage Pass-Through Certificate of a like Percentage Interest and
Class to the above named assignee and deliver such Commercial Mortgage
Pass-Through Certificate to the following address:
_________________________________________________________________________.

Dated: _________________________

                                          ______________________________________
                                           Signature by or on behalf of Assignor

                                          ______________________________________
                                                  Signature Guaranteed

<PAGE>

                            DISTRIBUTION INSTRUCTIONS

               The Assignee should include the following for purposes of
distribution:

               Distributions shall, if permitted, be made by wire transfer or
otherwise, in immediately available funds, to _____________________________ for
the account of _______________.

               Distributions made by check (such check to be made payable to
_____________________) and all applicable statements and notices should be
mailed to _____________________________.

               This information is provided by ________________________________,
the Assignee named above, or ____________________________________, as its agent.

<PAGE>

                                 EXHIBIT A-17-2

                           FORM OF CLASS J CERTIFICATE

              CLASS J COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATE,
                                 SERIES 2006-C29

evidencing a beneficial ownership interest in a trust fund (the "Trust Fund")
consisting primarily of a pool of multifamily and commercial mortgage loans (the
"Mortgage Loans"), such pool being formed and sold by

                     WACHOVIA BANK COMMERCIAL MORTGAGE TRUST

Pass-Through Rate: Variable                  Class Principal Balance of the
                                             Class J Certificates as of the
                                             Closing Date: $37,927,000

Date of Pooling and Servicing Agreement:     Initial Certificate Principal
as of December 1, 2006                       Balance of this Class J Certificate
                                             as of the Closing Date: $0

Closing Date: December 21, 2006              Aggregate Stated Principal Balance
                                             of the Mortgage Loans as of the
                                             Cut-Off Date: $3,371,274,173

First Distribution Date: January 18, 2007

Master Servicer: Wachovia Bank, National     Trustee: Wells Fargo Bank, N.A.
Association

Special Servicer: LNR Partners, Inc.

Certificate No. J-2                          CUSIP No. [_]

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST CORPORATION, A NEW YORK CORPORATION ("DTC"), TO THE DEPOSITOR,
THE MASTER SERVICER, THE TRUSTEE, THE CERTIFICATE REGISTRAR OR ANY AGENT THEREOF
FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED
IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO
SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY
TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON
IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
HEREIN.

THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN WACHOVIA
COMMERCIAL MORTGAGE SECURITIES, INC., WELLS FARGO BANK, N.A., LNR PARTNERS,
INC., WACHOVIA BANK, NATIONAL ASSOCIATION OR ANY OF THEIR RESPECTIVE AFFILIATES.
NEITHER THIS CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS ARE GUARANTEED BY ANY
AGENCY OR INSTRUMENTALITY OF THE UNITED STATES OR ANY OTHER PERSON.

THIS CERTIFICATE HAS NOT BEEN REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT
OF 1933 (THE "SECURITIES ACT") OR THE SECURITIES LAWS OF ANY STATE. ANY RESALE,
TRANSFER OR OTHER DISPOSITION OF THIS CERTIFICATE WITHOUT SUCH REGISTRATION OR
QUALIFICATION MAY BE MADE ONLY IN A TRANSACTION WHICH DOES NOT REQUIRE SUCH
REGISTRATION OR QUALIFICATION AND IN ACCORDANCE WITH THE PROVISIONS OF SECTION
5.02 OF THE AGREEMENT REFERRED TO HEREIN.

SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE IS A "REGULAR
INTEREST" IN A "REAL ESTATE MORTGAGE INVESTMENT CONDUIT" (A "REMIC") AS THOSE
TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL
REVENUE CODE OF 1986 (THE "CODE").

THIS CERTIFICATE IS SUBORDINATE TO THE CLASS A-1 CERTIFICATES, THE CLASS A-2
CERTIFICATES, THE CLASS A-3 CERTIFICATES, THE CLASS A-PB CERTIFICATES, THE CLASS
A-4 CERTIFICATES, THE CLASS A-1A CERTIFICATES, THE CLASS A-M CERTIFICATES, THE
CLASS A-J CERTIFICATES, THE CLASS B CERTIFICATES, THE CLASS C CERTIFICATES, THE
CLASS D CERTIFICATES, THE CLASS E CERTIFICATES, THE CLASS F CERTIFICATES, THE
CLASS G CERTIFICATES AND THE CLASS H CERTIFICATES OF THE SAME SERIES TO THE
EXTENT DESCRIBED IN THE AGREEMENT REFERRED TO HEREIN.

IF THE AGGREGATE CERTIFICATE PRINCIPAL BALANCE OF THE CLASS A-1 CERTIFICATES,
THE CLASS A-2 CERTIFICATES, THE CLASS A-3 CERTIFICATES, THE CLASS A-PB
CERTIFICATES, THE CLASS A-4 CERTIFICATES, THE CLASS A-1A CERTIFICATES, THE CLASS
A-M CERTIFICATES, THE CLASS A-J CERTIFICATES, THE CLASS B CERTIFICATES, THE
CLASS C CERTIFICATES, THE CLASS D CERTIFICATES, THE CLASS E CERTIFICATES, THE
CLASS F CERTIFICATES, THE CLASS G CERTIFICATES AND THE CLASS H CERTIFICATES OF
THE SAME SERIES IS REDUCED TO ZERO, DISTRIBUTIONS IN REDUCTION OF THE
CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE MAY BE MADE MONTHLY AS SET
FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN. IN ADDITION, IF
THE AGGREGATE CERTIFICATE PRINCIPAL BALANCE OF THE CLASS K, CLASS L, CLASS M,
CLASS N, CLASS O, CLASS P AND CLASS Q CERTIFICATES OF THE SAME SERIES IS REDUCED
TO ZERO, THE CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE MAY BE REDUCED BY
CERTAIN LOSSES AND EXPENSES EXPERIENCED BY THE TRUST FUND AS SET FORTH IN THE
AGREEMENT REFERRED TO HEREIN. ACCORDINGLY, THE OUTSTANDING CERTIFICATE PRINCIPAL
BALANCE HEREOF AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ABOVE.

               This certifies that Cede & Co. is the registered owner of the
Percentage Interest evidenced by this Class J Certificate (obtained by dividing
the principal amount of this Class J Certificate (its "Certificate Principal
Balance") as of the Closing Date by the aggregate principal amount of all the
Class J Certificates (their "Class Principal Balance") as of the Closing Date)
in that certain beneficial ownership interest evidenced by all the Class J
Certificates in the Trust Fund created pursuant to a Pooling and Servicing
Agreement, dated as specified above (the "Agreement"), among Wachovia Commercial
Mortgage Securities, Inc. (herein called the "Depositor", which term includes
any successor entity under the Agreement), Wachovia Bank, National Association
(herein called the "Master Servicer", which term includes any successor entity
under the Agreement), LNR Partners, Inc. (herein called the "Special Servicer",
which term includes any successor entity under the Agreement) and Wells Fargo
Bank, N.A. (herein called the "Trustee", which term includes any successor
entity under the Agreement), a summary of certain of the pertinent provisions of
which is set forth hereafter. To the extent not defined herein, the capitalized
terms used herein have the respective meanings assigned in the Agreement. This
Certificate is issued under and is subject to the terms, provisions and
conditions of the Agreement, to which Agreement the Holder of this Certificate
by virtue of the acceptance hereof assents and by which such Holder is bound.

               Pursuant to the terms of the Agreement, distributions will be
made on the fourth Business Day following the related Determination Date (each,
a "Distribution Date"). The Determination Date is the 11th day of each month or,
if such 11th day is not a Business Day, the Business Day immediately succeeding,
commencing in January 2007 (each, a "Determination Date"). Distributions will be
made commencing on the first Distribution Date specified above, to the Person in
whose name this Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such distribution
(the "Record Date"), in an amount equal to the product of the Percentage
Interest evidenced by this Certificate and the amount required to be distributed
to the Holders of the Class J Certificates on the applicable Distribution Date
pursuant to the Agreement. All distributions made under the Agreement on the
Class J Certificates will be made by Wells Fargo Bank, N.A., as paying agent
(the "Paying Agent"), by wire transfer of immediately available funds to the
account of the Person entitled thereto at a bank or other entity having
appropriate facilities therefor, if such Certificateholder shall have provided
the Paying Agent with wiring instructions no less than five Business Days prior
to the related Record Date (which wiring instructions may be in the form of a
standing order applicable to all subsequent distributions), or otherwise by
check mailed to the address of such Certificateholder as it appears in the
Certificate Register. Notwithstanding the foregoing, the final distribution on
this Certificate (determined without regard to any possible future reimbursement
of any Realized Loss or Additional Trust Fund Expense previously allocated to
this Certificate) will be made in like manner, but only upon presentation and
surrender of this Certificate at the offices of the Certificate Registrar or
such other location specified in the notice to the Holder hereof of such final
distribution. Also notwithstanding the foregoing, any distribution that may be
made with respect to this Certificate in reimbursement of any Realized Loss or
Additional Trust Fund Expense previously allocated to this Certificate, which
reimbursement is to occur after the date on which this Certificate is
surrendered as contemplated by the preceding sentence, will be made by check
mailed to the address of the Holder that surrenders this Certificate as such
address last appears in the Certificate Register or to any such other address of
which the Paying Agent is subsequently notified in writing.

               The Certificates are limited in right of distribution to certain
collections and recoveries respecting the Mortgage Loans and REO Loans, all as
more specifically set forth herein and in the Agreement. As provided in the
Agreement, withdrawals from the Certificate Account, the Distribution Account
and, if established, the REO Account may be made from time to time for purposes
other than, and, in certain cases, prior to, distributions to
Certificateholders, such purposes including the reimbursement of Advances made,
or certain expenses incurred, with respect to the Mortgage Loans and the payment
of interest on such Advances and expenses.

               Interest accrued on this Certificate during an Interest Accrual
Period, plus any unpaid interest shortfall with respect to this Certificate for
any prior Distribution Date, if any, will be payable on the related Distribution
Date to the extent provided in the Agreement. The "Interest Accrual Period" with
respect to any Distribution Date and with respect to the Class J Certificates is
the calendar month preceding the month in which such Distribution Date occurs
and is assumed to consist of 30 days.

               Any distribution to the Holder of this Certificate in reduction
of the Certificate Principal Balance hereof is binding on such Holder and all
future Holders of this Certificate and any Certificate issued upon the transfer
hereof or in exchange herefor or in lieu hereof whether or not notation of such
distribution is made upon this Certificate.

               The Class J Certificates are issuable in fully registered form
only without coupons in minimum denominations specified in the Agreement. As
provided in the Agreement and subject to certain limitations therein set forth,
the Class J Certificates are exchangeable for new Class J Certificates in
authorized denominations evidencing the same aggregate Percentage Interest, as
requested by the Holder surrendering the same.

               As provided in the Agreement and subject to certain limitations
therein set forth, the transfer of this Certificate is registrable in the
Certificate Register upon surrender of this Certificate for registration of
transfer at the offices of the Certificate Registrar, duly endorsed by, or
accompanied by a written instrument of transfer in the form satisfactory to the
Certificate Registrar duly executed by, the Holder hereof or his attorney duly
authorized in writing, and thereupon one or more new Class J Certificates in
authorized denominations evidencing the same aggregate Percentage Interest will
be issued to the designated transferee or transferees.

               No transfer of any Class J Certificate shall be made unless that
transfer is made pursuant to an effective registration statement under the
Securities Act, and effective registration or qualification under applicable
state securities laws, or is made in a transaction which does not require such
registration or qualification. If such a transfer is to be made without
registration under the Securities Act (other than in connection with the initial
issuance thereof or the initial transfer thereof by the Depositor, the Initial
Purchaser or their respective affiliates), then the Certificate Registrar shall
refuse to register such transfer unless it receives either: (i) a certificate
from the Certificateholder desiring to effect such transfer substantially in the
form attached as Exhibit F-1 to the Agreement, and a certificate from such
Certificateholder's prospective transferee substantially in the form attached as
either Exhibit F-2, Exhibit F-3, Exhibit F-4, Exhibit F-5 or Exhibit F-6 to the
Agreement; or (ii) an Opinion of Counsel reasonably satisfactory to the
Certificate Registrar to the effect that such transfer may be made without
registration under the Securities Act (which Opinion of Counsel shall not be an
expense of the Trust Fund or of the Depositor, the Master Servicer, the Special
Servicer, the Trustee, the Paying Agent or the Certificate Registrar in their
respective capacities as such), together with the written certification(s) as to
the facts surrounding such transfer from the Certificateholder desiring to
effect such transfer and/or such Certificateholder's prospective transferee on
which such Opinion of Counsel is based. None of the Depositor, the Trustee,
Paying Agent or the Certificate Registrar is obligated to register or qualify
the Class J Certificates under the Securities Act or any other securities law or
to take any action not otherwise required under the Agreement to permit the
transfer of any Class J Certificate without registration or qualification. Any
Class J Certificateholder desiring to effect such a transfer shall, and by the
acceptance of its Class J Certificate agrees to, indemnify the Trustee, the
Certificate Registrar, the Paying Agent and the Depositor against any liability
that may result if the transfer is not so exempt or is not made in accordance
with such federal and state laws.

               No service charge will be imposed for any registration of
transfer or exchange of Class J Certificates, but the Certificate Registrar may
require payment of a sum sufficient to cover any tax or other governmental
charge that may be imposed in connection with any transfer or exchange of Class
J Certificates.

               Notwithstanding the foregoing, for so long as this Certificate is
registered in the name of Cede & Co. or in such other name as is requested by an
authorized representative of DTC, transfers of interests in this Certificate
shall be made through the book-entry facilities of DTC.

               The Depositor, the Master Servicer, the Special Servicer, the
Trustee, the Paying Agent and the Certificate Registrar and any agent of the
Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying
Agent or the Certificate Registrar may treat the Person in whose name this
Certificate is registered as the owner hereof for all purposes whatsoever and
none of the Depositor, the Master Servicer, the Special Servicer, the Trustee,
the Paying Agent, the Certificate Registrar, or any such agent shall be affected
by notice to the contrary.

               The Trust Fund and the obligations created by the Agreement shall
terminate upon distribution (or provision for distribution) to the
Certificateholders of all amounts held by or on behalf of the Trustee and
required to be distributed to them pursuant to the Agreement following the
earlier to occur of (i) the final payment (or any advance with respect thereto)
or other liquidation of the last Mortgage Loan or REO Property remaining in the
Trust Fund, and (ii) the purchase by the Master Servicer, the Special Servicer
or the Majority Subordinate Certificateholder at a price determined as provided
in the Agreement of all Mortgage Loans and each REO Property remaining in the
Trust Fund. The Agreement permits, but does not require, the Master Servicer,
the Special Servicer or the Majority Subordinate Certificateholder to purchase
from the Trust Fund all Mortgage Loans and each REO Property remaining therein.
The exercise of such right will effect early retirement of the Class J
Certificates; however, such right to purchase is subject to the aggregate Stated
Principal Balance of the Mortgage Pool at the time of purchase being less than
1% of the aggregate Stated Principal Balance of the Mortgage Loans as of the
Cut-Off Date specified on the face hereof.

               In addition, any exchange by any Certificateholder of all of the
then outstanding Certificates (other than the Class Z, Class R-I and Class R-II
Certificates) for all of the Mortgage Loans and each REO Property remaining in
the Trust Fund may be made: (i) if the then outstanding Certificates (other than
the Class Z, Class R-I and Class R-II Certificates) are held by a single
Certificateholder and (ii) the Class A-1, Class A-2, Class A-3, Class A-PB,
Class A-4, Class A-1A, Class A-M, Class A-J, Class B, Class C, Class D and Class
E Certificates have been paid in full.

               The Agreement permits, with certain exceptions therein provided,
the amendment thereof and the modification of the rights and obligations of the
Depositor, the Master Servicer, the Special Servicer and the Trustee and the
rights of the Certificateholders under the Agreement at any time by the
Depositor, the Master Servicer, the Special Servicer and the Trustee with the
consent of the Holders of Certificates entitled to at least 51% of the Voting
Rights allocated to the affected Classes. Any such consent by the Holder of this
Certificate shall be conclusive and binding on such Holder and upon all future
Holders of this Certificate and of any Certificate issued upon the transfer
hereof or in exchange herefor or in lieu hereof whether or not notation of such
consent is made upon this Certificate. The Agreement also permits the amendment
thereof, in certain limited circumstances, including any amendment necessary to
maintain the status of the Trust Fund (or designated portions thereof) as
consisting of two separate REMICs and one grantor trust, without the consent of
the Holders of any of the Certificates.

               Unless the certificate of authentication hereon has been executed
by the Certificate Registrar, by manual signature, this Certificate shall not be
entitled to any benefit under the Agreement or be valid for any purpose.

               The registered Holder hereof, by its acceptance hereof, agrees
that it will look solely to the Trust Fund (to the extent of its rights therein)
for distributions hereunder.

               This Certificate shall be construed in accordance with the
internal laws of the State of New York applicable to agreements made and to be
performed in said State, and the obligations, rights and remedies of the Holder
hereof shall be determined in accordance with such laws.

<PAGE>

               IN WITNESS WHEREOF, the Certificate Registrar has caused this
Certificate to be duly executed.

Dated: December 21, 2006

                                          WELLS FARGO BANK, N.A., as Certificate
                                              Registrar

                                          By: __________________________________
                                              Authorized Representative

                          CERTIFICATE OF AUTHENTICATION

               This is one of the Class J Certificates referred to in the
within-mentioned Agreement.

                                          WELLS FARGO BANK, N.A., as
                                              Authenticating Agent

                                          By: __________________________________
                                              Authorized Representative

<PAGE>

                                   ASSIGNMENT

               FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and
transfer(s) unto ________________________________________________________
(please print or typewrite name and address including postal zip code of
assignee) the beneficial ownership interest in the Trust Fund evidenced by the
within Commercial Mortgage Pass-Through Certificate and hereby authorize(s) the
registration of transfer of such interest to assignee on the Certificate
Register of the Trust Fund.

               I (we) further direct the Certificate Registrar to issue a new
Commercial Mortgage Pass-Through Certificate of a like Percentage Interest and
Class to the above named assignee and deliver such Commercial Mortgage
Pass-Through Certificate to the following address:
_________________________________________________________________________.

Dated: _________________________

                                          ______________________________________
                                           Signature by or on behalf of Assignor

                                          ______________________________________
                                                  Signature Guaranteed

<PAGE>

                            DISTRIBUTION INSTRUCTIONS

               The Assignee should include the following for purposes of
distribution:

               Distributions shall, if permitted, be made by wire transfer or
otherwise, in immediately available funds, to _____________________________ for
the account of _______________.

               Distributions made by check (such check to be made payable to
_____________________) and all applicable statements and notices should be
mailed to _____________________________.

               This information is provided by ________________________________,
the Assignee named above, or ____________________________________, as its agent.

<PAGE>

                                 EXHIBIT A-18-1

                           FORM OF CLASS K CERTIFICATE

              CLASS K COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATE,
                                 SERIES 2006-C29

evidencing a beneficial ownership interest in a trust fund (the "Trust Fund")
consisting primarily of a pool of multifamily and commercial mortgage loans (the
"Mortgage Loans"), such pool being formed and sold by

                     WACHOVIA BANK COMMERCIAL MORTGAGE TRUST

Pass-Through Rate: Variable                  Class Principal Balance of the
                                             Class K Certificates as of the
                                             Closing Date: $12,642,000

Date of Pooling and Servicing Agreement:     Initial Certificate Principal
as of December 1, 2006                       Balance of this Class K Certificate
                                             as of the Closing Date: $12,642,000

Closing Date: December 21, 2006              Aggregate Stated Principal Balance
                                             of the Mortgage Loans as of the
                                             Cut-Off Date: $3,371,274,173

First Distribution Date: January 18, 2007

Master Servicer: Wachovia Bank, National     Trustee: Wells Fargo Bank, N.A.
Association

Special Servicer: LNR Partners, Inc.

Certificate No. K-1                          CUSIP No. [_]

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST CORPORATION, A NEW YORK CORPORATION ("DTC"), TO THE DEPOSITOR,
THE MASTER SERVICER, THE TRUSTEE, THE CERTIFICATE REGISTRAR OR ANY AGENT THEREOF
FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED
IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO
SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY
TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON
IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
HEREIN.

THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN WACHOVIA
COMMERCIAL MORTGAGE SECURITIES, INC., WELLS FARGO BANK, N.A., LNR PARTNERS,
INC., WACHOVIA BANK, NATIONAL ASSOCIATION OR ANY OF THEIR RESPECTIVE AFFILIATES.
NEITHER THIS CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS ARE GUARANTEED BY ANY
AGENCY OR INSTRUMENTALITY OF THE UNITED STATES OR ANY OTHER PERSON.

THIS CERTIFICATE HAS NOT BEEN REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT
OF 1933 (THE "SECURITIES ACT") OR THE SECURITIES LAWS OF ANY STATE. ANY RESALE,
TRANSFER OR OTHER DISPOSITION OF THIS CERTIFICATE WITHOUT SUCH REGISTRATION OR
QUALIFICATION MAY BE MADE ONLY IN A TRANSACTION WHICH DOES NOT REQUIRE SUCH
REGISTRATION OR QUALIFICATION AND IN ACCORDANCE WITH THE PROVISIONS OF SECTION
5.02 OF THE AGREEMENT REFERRED TO HEREIN.

SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE IS A "REGULAR
INTEREST" IN A "REAL ESTATE MORTGAGE INVESTMENT CONDUIT" (A "REMIC") AS THOSE
TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL
REVENUE CODE OF 1986 (THE "CODE").

THIS CERTIFICATE IS SUBORDINATE TO THE CLASS A-1 CERTIFICATES, THE CLASS A-2
CERTIFICATES, THE CLASS A-3 CERTIFICATES, THE CLASS A-PB CERTIFICATES, THE CLASS
A-4 CERTIFICATES, THE CLASS A-1A CERTIFICATES, THE CLASS A-M CERTIFICATES, THE
CLASS A-J CERTIFICATES, THE CLASS B CERTIFICATES, THE CLASS C CERTIFICATES, THE
CLASS D CERTIFICATES, THE CLASS E CERTIFICATES, THE CLASS F CERTIFICATES, THE
CLASS G CERTIFICATES, THE CLASS H CERTIFICATES AND THE CLASS J CERTIFICATES OF
THE SAME SERIES TO THE EXTENT DESCRIBED IN THE AGREEMENT REFERRED TO HEREIN.

NO TRANSFER OF THIS CERTIFICATE OR ANY INTEREST THEREIN SHALL BE MADE TO ANY
"EMPLOYEE BENEFIT PLAN" SUBJECT TO TITLE I OF ERISA OR A "PLAN" DESCRIBED BY
SECTION 4975(E)(1) OF THE CODE OR ANY OTHER RETIREMENT PLAN OR OTHER EMPLOYEE
BENEFIT PLAN OR ARRANGEMENT SUBJECT TO ANY FEDERAL, STATE OR LOCAL LAW
MATERIALLY SIMILAR TO THE FOREGOING PROVISIONS OF ERISA AND THE CODE, OR ANY
ENTITY DEEMED TO HOLD PLAN ASSETS OF THE FOREGOING BY REASON OF A PLAN'S
INVESTMENT IN SUCH ENTITY (EACH, A "PLAN") UNLESS IT IS AN INSURANCE COMPANY
GENERAL ACCOUNT WHICH IS ELIGIBLE FOR, AND SATISFIES ALL OF THE REQUIREMENTS
FOR, EXEMPTIVE RELIEF UNDER SECTIONS I AND III OF DEPARTMENT OF LABOR PROHIBITED
TRANSACTION CLASS EXEMPTION 95-60. EACH PERSON WHO ACQUIRES THIS CERTIFICATE
SHALL BE REQUIRED (OR, IN THE CASE OF A BOOK-ENTRY CERTIFICATE, DEEMED) TO HAVE
CERTIFIED THAT THE FOREGOING CONDITIONS ARE SATISFIED, AND THAT IT WILL NOT
TRANSFER THIS CERTIFICATE IN VIOLATION OF THE FOREGOING.

IF THE AGGREGATE CERTIFICATE PRINCIPAL BALANCE OF THE CLASS A-1 CERTIFICATES,
THE CLASS A-2 CERTIFICATES, THE CLASS A-3 CERTIFICATES, THE CLASS A-PB
CERTIFICATES, THE CLASS A-4 CERTIFICATES, THE CLASS A-1A CERTIFICATES, THE CLASS
A-M CERTIFICATES, THE CLASS A-J CERTIFICATES, THE CLASS B CERTIFICATES, THE
CLASS C CERTIFICATES, THE CLASS D CERTIFICATES, THE CLASS E CERTIFICATES, THE
CLASS F CERTIFICATES, THE CLASS G CERTIFICATES, THE CLASS H CERTIFICATES AND THE
CLASS J CERTIFICATES OF THE SAME SERIES IS REDUCED TO ZERO, DISTRIBUTIONS IN
REDUCTION OF THE CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE MAY BE MADE
MONTHLY AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.
IN ADDITION, IF THE AGGREGATE CERTIFICATE PRINCIPAL BALANCE OF THE CLASS L,
CLASS M, CLASS N, CLASS O, CLASS P AND CLASS Q CERTIFICATES OF THE SAME SERIES
IS REDUCED TO ZERO, THE CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE MAY BE
REDUCED BY CERTAIN LOSSES AND EXPENSES EXPERIENCED BY THE TRUST FUND AS SET
FORTH IN THE AGREEMENT REFERRED TO HEREIN. ACCORDINGLY, THE OUTSTANDING
CERTIFICATE PRINCIPAL BALANCE HEREOF AT ANY TIME MAY BE LESS THAN THE AMOUNT
SHOWN ABOVE.

               This certifies that Cede & Co. is the registered owner of the
Percentage Interest evidenced by this Class K Certificate (obtained by dividing
the principal amount of this Class K Certificate (its "Certificate Principal
Balance") as of the Closing Date by the aggregate principal amount of all the
Class K Certificates (their "Class Principal Balance") as of the Closing Date)
in that certain beneficial ownership interest evidenced by all the Class K
Certificates in the Trust Fund created pursuant to a Pooling and Servicing
Agreement, dated as specified above (the "Agreement"), among Wachovia Commercial
Mortgage Securities, Inc. (herein called the "Depositor", which term includes
any successor entity under the Agreement), Wachovia Bank, National Association
(herein called the "Master Servicer", which term includes any successor entity
under the Agreement), LNR Partners, Inc. (herein called the "Special Servicer",
which term includes any successor entity under the Agreement) and Wells Fargo
Bank, N.A. (herein called the "Trustee", which term includes any successor
entity under the Agreement), a summary of certain of the pertinent provisions of
which is set forth hereafter. To the extent not defined herein, the capitalized
terms used herein have the respective meanings assigned in the Agreement. This
Certificate is issued under and is subject to the terms, provisions and
conditions of the Agreement, to which Agreement the Holder of this Certificate
by virtue of the acceptance hereof assents and by which such Holder is bound.

               Pursuant to the terms of the Agreement, distributions will be
made on the fourth Business Day following the related Determination Date (each,
a "Distribution Date"). The Determination Date is the 11th day of each month or,
if such 11th day is not a Business Day, the Business Day immediately succeeding,
commencing in January 2007 (each, a "Determination Date"). Distributions will be
made commencing on the first Distribution Date specified above, to the Person in
whose name this Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such distribution
(the "Record Date"), in an amount equal to the product of the Percentage
Interest evidenced by this Certificate and the amount required to be distributed
to the Holders of the Class K Certificates on the applicable Distribution Date
pursuant to the Agreement. All distributions made under the Agreement on the
Class K Certificates will be made by Wells Fargo Bank, N.A., as paying agent
(the "Paying Agent"), by wire transfer of immediately available funds to the
account of the Person entitled thereto at a bank or other entity having
appropriate facilities therefor, if such Certificateholder shall have provided
the Paying Agent with wiring instructions no less than five Business Days prior
to the related Record Date (which wiring instructions may be in the form of a
standing order applicable to all subsequent distributions), or otherwise by
check mailed to the address of such Certificateholder as it appears in the
Certificate Register. Notwithstanding the foregoing, the final distribution on
this Certificate (determined without regard to any possible future reimbursement
of any Realized Loss or Additional Trust Fund Expense previously allocated to
this Certificate) will be made in like manner, but only upon presentation and
surrender of this Certificate at the offices of the Certificate Registrar or
such other location specified in the notice to the Holder hereof of such final
distribution. Also notwithstanding the foregoing, any distribution that may be
made with respect to this Certificate in reimbursement of any Realized Loss or
Additional Trust Fund Expense previously allocated to this Certificate, which
reimbursement is to occur after the date on which this Certificate is
surrendered as contemplated by the preceding sentence, will be made by check
mailed to the address of the Holder that surrenders this Certificate as such
address last appears in the Certificate Register or to any such other address of
which the Paying Agent is subsequently notified in writing.

               The Certificates are limited in right of distribution to certain
collections and recoveries respecting the Mortgage Loans and REO Loans, all as
more specifically set forth herein and in the Agreement. As provided in the
Agreement, withdrawals from the Certificate Account, the Distribution Account
and, if established, the REO Account may be made from time to time for purposes
other than, and, in certain cases, prior to, distributions to
Certificateholders, such purposes including the reimbursement of Advances made,
or certain expenses incurred, with respect to the Mortgage Loans and the payment
of interest on such Advances and expenses.

               Interest accrued on this Certificate during an Interest Accrual
Period, plus any unpaid interest shortfall with respect to this Certificate for
any prior Distribution Date, if any, will be payable on the related Distribution
Date to the extent provided in the Agreement. The "Interest Accrual Period" with
respect to any Distribution Date and with respect to the Class K Certificates is
the calendar month preceding the month in which such Distribution Date occurs
and is assumed to consist of 30 days.

               Any distribution to the Holder of this Certificate in reduction
of the Certificate Principal Balance hereof is binding on such Holder and all
future Holders of this Certificate and any Certificate issued upon the transfer
hereof or in exchange herefor or in lieu hereof whether or not notation of such
distribution is made upon this Certificate.

               The Class K Certificates are issuable in fully registered form
only without coupons in minimum denominations specified in the Agreement. As
provided in the Agreement and subject to certain limitations therein set forth,
the Class K Certificates are exchangeable for new Class K Certificates in
authorized denominations evidencing the same aggregate Percentage Interest, as
requested by the Holder surrendering the same.

               As provided in the Agreement and subject to certain limitations
therein set forth, the transfer of this Certificate is registrable in the
Certificate Register upon surrender of this Certificate for registration of
transfer at the offices of the Certificate Registrar, duly endorsed by, or
accompanied by a written instrument of transfer in the form satisfactory to the
Certificate Registrar duly executed by, the Holder hereof or his attorney duly
authorized in writing, and thereupon one or more new Class K Certificates in
authorized denominations evidencing the same aggregate Percentage Interest will
be issued to the designated transferee or transferees.

               No transfer of any Class K Certificate shall be made unless that
transfer is made pursuant to an effective registration statement under the
Securities Act, and effective registration or qualification under applicable
state securities laws, or is made in a transaction which does not require such
registration or qualification. If such a transfer is to be made without
registration under the Securities Act (other than in connection with the initial
issuance thereof or the initial transfer thereof by the Depositor, the Initial
Purchaser or their respective affiliates), then the Certificate Registrar shall
refuse to register such transfer unless it receives either: (i) a certificate
from the Certificateholder desiring to effect such transfer substantially in the
form attached as Exhibit F-1 to the Agreement, and a certificate from such
Certificateholder's prospective transferee substantially in the form attached as
either Exhibit F-2, Exhibit F-3, Exhibit F-4, Exhibit F-5 or Exhibit F-6 to the
Agreement; or (ii) an Opinion of Counsel reasonably satisfactory to the
Certificate Registrar to the effect that such transfer may be made without
registration under the Securities Act (which Opinion of Counsel shall not be an
expense of the Trust Fund or of the Depositor, the Master Servicer, the Special
Servicer, the Trustee, the Paying Agent or the Certificate Registrar in their
respective capacities as such), together with the written certification(s) as to
the facts surrounding such transfer from the Certificateholder desiring to
effect such transfer and/or such Certificateholder's prospective transferee on
which such Opinion of Counsel is based. None of the Depositor, the Trustee, the
Paying Agent or the Certificate Registrar is obligated to register or qualify
the Class K Certificates under the Securities Act or any other securities law or
to take any action not otherwise required under the Agreement to permit the
transfer of any Class K Certificate without registration or qualification. Any
Class K Certificateholder desiring to effect such a transfer shall, and by the
acceptance of its Class K Certificate agrees to, indemnify the Trustee, the
Certificate Registrar, the Paying Agent and the Depositor against any liability
that may result if the transfer is not so exempt or is not made in accordance
with such federal and state laws.

               No service charge will be imposed for any registration of
transfer or exchange of Class K Certificates, but the Certificate Registrar may
require payment of a sum sufficient to cover any tax or other governmental
charge that may be imposed in connection with any transfer or exchange of Class
K Certificates.

               Notwithstanding the foregoing, for so long as this Certificate is
registered in the name of Cede & Co. or in such other name as is requested by an
authorized representative of DTC, transfers of interests in this Certificate
shall be made through the book-entry facilities of DTC.

               The Depositor, the Master Servicer, the Special Servicer, the
Trustee, the Paying Agent and the Certificate Registrar and any agent of the
Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying
Agent or the Certificate Registrar may treat the Person in whose name this
Certificate is registered as the owner hereof for all purposes whatsoever and
none of the Depositor, the Master Servicer, the Special Servicer, the Trustee,
the Paying Agent, the Certificate Registrar, or any such agent shall be affected
by notice to the contrary.

               The Trust Fund and the obligations created by the Agreement shall
terminate upon distribution (or provision for distribution) to the
Certificateholders of all amounts held by or on behalf of the Trustee and
required to be distributed to them pursuant to the Agreement following the
earlier to occur of (i) the final payment (or any advance with respect thereto)
or other liquidation of the last Mortgage Loan or REO Property remaining in the
Trust Fund, and (ii) the purchase by the Master Servicer, the Special Servicer
or the Majority Subordinate Certificateholder at a price determined as provided
in the Agreement of all Mortgage Loans and each REO Property remaining in the
Trust Fund. The Agreement permits, but does not require, the Master Servicer,
the Special Servicer or the Majority Subordinate Certificateholder to purchase
from the Trust Fund all Mortgage Loans and each REO Property remaining therein.
The exercise of such right will effect early retirement of the Class K
Certificates; however, such right to purchase is subject to the aggregate Stated
Principal Balance of the Mortgage Pool at the time of purchase being less than
1% of the aggregate Stated Principal Balance of the Mortgage Loans as of the
Cut-Off Date specified on the face hereof.

               In addition, any exchange by any Certificateholder of all of the
then outstanding Certificates (other than the Class Z, Class R-I and Class R-II
Certificates) for all of the Mortgage Loans and each REO Property remaining in
the Trust Fund may be made: (i) if the then outstanding Certificates (other than
the Class Z, Class R-I and Class R-II Certificates) are held by a single
Certificateholder and (ii) the Class A-1, Class A-2, Class A-3, Class A-PB,
Class A-4, Class A-1A, Class A-M, Class A-J, Class B, Class C, Class D and Class
E Certificates have been paid in full.

               The Agreement permits, with certain exceptions therein provided,
the amendment thereof and the modification of the rights and obligations of the
Depositor, the Master Servicer, the Special Servicer and the Trustee and the
rights of the Certificateholders under the Agreement at any time by the
Depositor, the Master Servicer, the Special Servicer and the Trustee with the
consent of the Holders of Certificates entitled to at least 51% of the Voting
Rights allocated to the affected Classes. Any such consent by the Holder of this
Certificate shall be conclusive and binding on such Holder and upon all future
Holders of this Certificate and of any Certificate issued upon the transfer
hereof or in exchange herefor or in lieu hereof whether or not notation of such
consent is made upon this Certificate. The Agreement also permits the amendment
thereof, in certain limited circumstances, including any amendment necessary to
maintain the status of the Trust Fund (or designated portions thereof) as
consisting of two separate REMICs and one grantor trust, without the consent of
the Holders of any of the Certificates.

               Unless the certificate of authentication hereon has been executed
by the Certificate Registrar, by manual signature, this Certificate shall not be
entitled to any benefit under the Agreement or be valid for any purpose.

               The registered Holder hereof, by its acceptance hereof, agrees
that it will look solely to the Trust Fund (to the extent of its rights therein)
for distributions hereunder.

               This Certificate shall be construed in accordance with the
internal laws of the State of New York applicable to agreements made and to be
performed in said State, and the obligations, rights and remedies of the Holder
hereof shall be determined in accordance with such laws.

<PAGE>

               IN WITNESS WHEREOF, the Certificate Registrar has caused this
Certificate to be duly executed.

Dated: December 21, 2006

                                          WELLS FARGO BANK, N.A., as Certificate
                                              Registrar

                                          By: __________________________________
                                              Authorized Representative

                          CERTIFICATE OF AUTHENTICATION

               This is one of the Class K Certificates referred to in the
within-mentioned Agreement.

                                          WELLS FARGO BANK, N.A., as
                                              Authenticating Agent

                                          By: __________________________________
                                              Authorized Representative

<PAGE>

                                   ASSIGNMENT

               FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and
transfer(s) unto ________________________________________________________
(please print or typewrite name and address including postal zip code of
assignee) the beneficial ownership interest in the Trust Fund evidenced by the
within Commercial Mortgage Pass-Through Certificate and hereby authorize(s) the
registration of transfer of such interest to assignee on the Certificate
Register of the Trust Fund.

               I (we) further direct the Certificate Registrar to issue a new
Commercial Mortgage Pass-Through Certificate of a like Percentage Interest and
Class to the above named assignee and deliver such Commercial Mortgage
Pass-Through Certificate to the following address:
_________________________________________________________________________.

Dated: _________________________

                                          ______________________________________
                                           Signature by or on behalf of Assignor

                                          ______________________________________
                                                  Signature Guaranteed

<PAGE>

                            DISTRIBUTION INSTRUCTIONS

               The Assignee should include the following for purposes of
distribution:

               Distributions shall, if permitted, be made by wire transfer or
otherwise, in immediately available funds, to _____________________________ for
the account of _______________.

               Distributions made by check (such check to be made payable to
_____________________) and all applicable statements and notices should be
mailed to _____________________________.

               This information is provided by ________________________________,
the Assignee named above, or ____________________________________, as its agent.

<PAGE>

                                 EXHIBIT A-18-2

                           FORM OF CLASS K CERTIFICATE

              CLASS K COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATE,
                                 SERIES 2006-C29

evidencing a beneficial ownership interest in a trust fund (the "Trust Fund")
consisting primarily of a pool of multifamily and commercial mortgage loans (the
"Mortgage Loans"), such pool being formed and sold by

                     WACHOVIA BANK COMMERCIAL MORTGAGE TRUST

Pass-Through Rate: Variable                  Class Principal Balance of the
                                             Class K Certificates as of the
                                             Closing Date: $12,642,000

Date of Pooling and Servicing Agreement:     Initial Certificate Principal
as of December 1, 2006                       Balance of this Class K Certificate
                                             as of the Closing Date: $0

Closing Date: December 21, 2006              Aggregate Stated Principal Balance
                                             of the Mortgage Loans as of the
                                             Cut-Off Date: $3,371,274,173

First Distribution Date: January 18, 2007

Master Servicer: Wachovia Bank, National     Trustee: Wells Fargo Bank, N.A.
Association

Special Servicer: LNR Partners, Inc.

Certificate No. K-2                          CUSIP No. [_]

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST CORPORATION, A NEW YORK CORPORATION ("DTC"), TO THE DEPOSITOR,
THE MASTER SERVICER, THE TRUSTEE, THE CERTIFICATE REGISTRAR OR ANY AGENT THEREOF
FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED
IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO
SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY
TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON
IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
HEREIN.

THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN WACHOVIA
COMMERCIAL MORTGAGE SECURITIES, INC., WELLS FARGO BANK, N.A., LNR PARTNERS,
INC., WACHOVIA BANK, NATIONAL ASSOCIATION OR ANY OF THEIR RESPECTIVE AFFILIATES.
NEITHER THIS CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS ARE GUARANTEED BY ANY
AGENCY OR INSTRUMENTALITY OF THE UNITED STATES OR ANY OTHER PERSON.

THIS CERTIFICATE HAS NOT BEEN REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT
OF 1933 (THE "SECURITIES ACT") OR THE SECURITIES LAWS OF ANY STATE. ANY RESALE,
TRANSFER OR OTHER DISPOSITION OF THIS CERTIFICATE WITHOUT SUCH REGISTRATION OR
QUALIFICATION MAY BE MADE ONLY IN A TRANSACTION WHICH DOES NOT REQUIRE SUCH
REGISTRATION OR QUALIFICATION AND IN ACCORDANCE WITH THE PROVISIONS OF SECTION
5.02 OF THE AGREEMENT REFERRED TO HEREIN.

SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE IS A "REGULAR
INTEREST" IN A "REAL ESTATE MORTGAGE INVESTMENT CONDUIT" (A "REMIC") AS THOSE
TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL
REVENUE CODE OF 1986 (THE "CODE").

THIS CERTIFICATE IS SUBORDINATE TO THE CLASS A-1 CERTIFICATES, THE CLASS A-2
CERTIFICATES, THE CLASS A-3 CERTIFICATES, THE CLASS A-PB CERTIFICATES, THE CLASS
A-4 CERTIFICATES, THE CLASS A-1A CERTIFICATES, THE CLASS A-M CERTIFICATES, THE
CLASS A-J CERTIFICATES, THE CLASS B CERTIFICATES, THE CLASS C CERTIFICATES, THE
CLASS D CERTIFICATES, THE CLASS E CERTIFICATES, THE CLASS F CERTIFICATES, THE
CLASS G CERTIFICATES, THE CLASS H CERTIFICATES AND THE CLASS J CERTIFICATES OF
THE SAME SERIES TO THE EXTENT DESCRIBED IN THE AGREEMENT REFERRED TO HEREIN.

NO TRANSFER OF THIS CERTIFICATE OR ANY INTEREST THEREIN SHALL BE MADE TO ANY
"EMPLOYEE BENEFIT PLAN" SUBJECT TO TITLE I OF ERISA OR A "PLAN" DESCRIBED BY
SECTION 4975(E)(1) OF THE CODE OR ANY OTHER RETIREMENT PLAN OR OTHER EMPLOYEE
BENEFIT PLAN OR ARRANGEMENT SUBJECT TO ANY FEDERAL, STATE OR LOCAL LAW
MATERIALLY SIMILAR TO THE FOREGOING PROVISIONS OF ERISA AND THE CODE, OR ANY
ENTITY DEEMED TO HOLD PLAN ASSETS OF THE FOREGOING BY REASON OF A PLAN'S
INVESTMENT IN SUCH ENTITY (EACH, A "PLAN") UNLESS IT IS AN INSURANCE COMPANY
GENERAL ACCOUNT WHICH IS ELIGIBLE FOR, AND SATISFIES ALL OF THE REQUIREMENTS
FOR, EXEMPTIVE RELIEF UNDER SECTIONS I AND III OF DEPARTMENT OF LABOR PROHIBITED
TRANSACTION CLASS EXEMPTION 95-60. EACH PERSON WHO ACQUIRES THIS CERTIFICATE
SHALL BE REQUIRED (OR, IN THE CASE OF A BOOK-ENTRY CERTIFICATE, DEEMED) TO HAVE
CERTIFIED THAT THE FOREGOING CONDITIONS ARE SATISFIED, AND THAT IT WILL NOT
TRANSFER THIS CERTIFICATE IN VIOLATION OF THE FOREGOING.

IF THE AGGREGATE CERTIFICATE PRINCIPAL BALANCE OF THE CLASS A-1 CERTIFICATES,
THE CLASS A-2 CERTIFICATES, THE CLASS A-3 CERTIFICATES, THE CLASS A-PB
CERTIFICATES, THE CLASS A-4 CERTIFICATES, THE CLASS A-1A CERTIFICATES, THE CLASS
A-M CERTIFICATES, THE CLASS A-J CERTIFICATES, THE CLASS B CERTIFICATES, THE
CLASS C CERTIFICATES, THE CLASS D CERTIFICATES, THE CLASS E CERTIFICATES, THE
CLASS F CERTIFICATES, THE CLASS G CERTIFICATES, THE CLASS H CERTIFICATES AND THE
CLASS J CERTIFICATES OF THE SAME SERIES IS REDUCED TO ZERO, DISTRIBUTIONS IN
REDUCTION OF THE CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE MAY BE MADE
MONTHLY AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.
IN ADDITION, IF THE AGGREGATE CERTIFICATE PRINCIPAL BALANCE OF THE CLASS L,
CLASS M, CLASS N, CLASS O, CLASS P AND CLASS Q CERTIFICATES OF THE SAME SERIES
IS REDUCED TO ZERO, THE CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE MAY BE
REDUCED BY CERTAIN LOSSES AND EXPENSES EXPERIENCED BY THE TRUST FUND AS SET
FORTH IN THE AGREEMENT REFERRED TO HEREIN. ACCORDINGLY, THE OUTSTANDING
CERTIFICATE PRINCIPAL BALANCE HEREOF AT ANY TIME MAY BE LESS THAN THE AMOUNT
SHOWN ABOVE.

               This certifies that Cede & Co. is the registered owner of the
Percentage Interest evidenced by this Class K Certificate (obtained by dividing
the principal amount of this Class K Certificate (its "Certificate Principal
Balance") as of the Closing Date by the aggregate principal amount of all the
Class K Certificates (their "Class Principal Balance") as of the Closing Date)
in that certain beneficial ownership interest evidenced by all the Class K
Certificates in the Trust Fund created pursuant to a Pooling and Servicing
Agreement, dated as specified above (the "Agreement"), among Wachovia Commercial
Mortgage Securities, Inc. (herein called the "Depositor", which term includes
any successor entity under the Agreement), Wachovia Bank, National Association
(herein called the "Master Servicer", which term includes any successor entity
under the Agreement), LNR Partners, Inc. (herein called the "Special Servicer",
which term includes any successor entity under the Agreement) and Wells Fargo
Bank, N.A. (herein called the "Trustee", which term includes any successor
entity under the Agreement), a summary of certain of the pertinent provisions of
which is set forth hereafter. To the extent not defined herein, the capitalized
terms used herein have the respective meanings assigned in the Agreement. This
Certificate is issued under and is subject to the terms, provisions and
conditions of the Agreement, to which Agreement the Holder of this Certificate
by virtue of the acceptance hereof assents and by which such Holder is bound.

               Pursuant to the terms of the Agreement, distributions will be
made on the fourth Business Day following the related Determination Date (each,
a "Distribution Date"). The Determination Date is the 11th day of each month or,
if such 11th day is not a Business Day, the Business Day immediately succeeding,
commencing in January 2007 (each, a "Determination Date"). Distributions will be
made commencing on the first Distribution Date specified above, to the Person in
whose name this Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such distribution
(the "Record Date"), in an amount equal to the product of the Percentage
Interest evidenced by this Certificate and the amount required to be distributed
to the Holders of the Class K Certificates on the applicable Distribution Date
pursuant to the Agreement. All distributions made under the Agreement on the
Class K Certificates will be made by Wells Fargo Bank, N.A., as paying agent
(the "Paying Agent"), by wire transfer of immediately available funds to the
account of the Person entitled thereto at a bank or other entity having
appropriate facilities therefor, if such Certificateholder shall have provided
the Paying Agent with wiring instructions no less than five Business Days prior
to the related Record Date (which wiring instructions may be in the form of a
standing order applicable to all subsequent distributions), or otherwise by
check mailed to the address of such Certificateholder as it appears in the
Certificate Register. Notwithstanding the foregoing, the final distribution on
this Certificate (determined without regard to any possible future reimbursement
of any Realized Loss or Additional Trust Fund Expense previously allocated to
this Certificate) will be made in like manner, but only upon presentation and
surrender of this Certificate at the offices of the Certificate Registrar or
such other location specified in the notice to the Holder hereof of such final
distribution. Also notwithstanding the foregoing, any distribution that may be
made with respect to this Certificate in reimbursement of any Realized Loss or
Additional Trust Fund Expense previously allocated to this Certificate, which
reimbursement is to occur after the date on which this Certificate is
surrendered as contemplated by the preceding sentence, will be made by check
mailed to the address of the Holder that surrenders this Certificate as such
address last appears in the Certificate Register or to any such other address of
which the Paying Agent is subsequently notified in writing.

               The Certificates are limited in right of distribution to certain
collections and recoveries respecting the Mortgage Loans and REO Loans, all as
more specifically set forth herein and in the Agreement. As provided in the
Agreement, withdrawals from the Certificate Account, the Distribution Account
and, if established, the REO Account may be made from time to time for purposes
other than, and, in certain cases, prior to, distributions to
Certificateholders, such purposes including the reimbursement of Advances made,
or certain expenses incurred, with respect to the Mortgage Loans and the payment
of interest on such Advances and expenses.

               Interest accrued on this Certificate during an Interest Accrual
Period, plus any unpaid interest shortfall with respect to this Certificate for
any prior Distribution Date, if any, will be payable on the related Distribution
Date to the extent provided in the Agreement. The "Interest Accrual Period" with
respect to any Distribution Date and with respect to the Class K Certificates is
the calendar month preceding the month in which such Distribution Date occurs
and is assumed to consist of 30 days.

               Any distribution to the Holder of this Certificate in reduction
of the Certificate Principal Balance hereof is binding on such Holder and all
future Holders of this Certificate and any Certificate issued upon the transfer
hereof or in exchange herefor or in lieu hereof whether or not notation of such
distribution is made upon this Certificate.

               The Class K Certificates are issuable in fully registered form
only without coupons in minimum denominations specified in the Agreement. As
provided in the Agreement and subject to certain limitations therein set forth,
the Class K Certificates are exchangeable for new Class K Certificates in
authorized denominations evidencing the same aggregate Percentage Interest, as
requested by the Holder surrendering the same.

               As provided in the Agreement and subject to certain limitations
therein set forth, the transfer of this Certificate is registrable in the
Certificate Register upon surrender of this Certificate for registration of
transfer at the offices of the Certificate Registrar, duly endorsed by, or
accompanied by a written instrument of transfer in the form satisfactory to the
Certificate Registrar duly executed by, the Holder hereof or his attorney duly
authorized in writing, and thereupon one or more new Class K Certificates in
authorized denominations evidencing the same aggregate Percentage Interest will
be issued to the designated transferee or transferees.

               No transfer of any Class K Certificate shall be made unless that
transfer is made pursuant to an effective registration statement under the
Securities Act, and effective registration or qualification under applicable
state securities laws, or is made in a transaction which does not require such
registration or qualification. If such a transfer is to be made without
registration under the Securities Act (other than in connection with the initial
issuance thereof or the initial transfer thereof by the Depositor, the Initial
Purchaser or their respective affiliates), then the Certificate Registrar shall
refuse to register such transfer unless it receives either: (i) a certificate
from the Certificateholder desiring to effect such transfer substantially in the
form attached as Exhibit F-1 to the Agreement, and a certificate from such
Certificateholder's prospective transferee substantially in the form attached as
either Exhibit F-2, Exhibit F-3, Exhibit F-4, Exhibit F-5 or Exhibit F-6 to the
Agreement; or (ii) an Opinion of Counsel reasonably satisfactory to the
Certificate Registrar to the effect that such transfer may be made without
registration under the Securities Act (which Opinion of Counsel shall not be an
expense of the Trust Fund or of the Depositor, the Master Servicer, the Special
Servicer, the Trustee, the Paying Agent or the Certificate Registrar in their
respective capacities as such), together with the written certification(s) as to
the facts surrounding such transfer from the Certificateholder desiring to
effect such transfer and/or such Certificateholder's prospective transferee on
which such Opinion of Counsel is based. None of the Depositor, the Trustee, the
Paying Agent or the Certificate Registrar is obligated to register or qualify
the Class K Certificates under the Securities Act or any other securities law or
to take any action not otherwise required under the Agreement to permit the
transfer of any Class K Certificate without registration or qualification. Any
Class K Certificateholder desiring to effect such a transfer shall, and by the
acceptance of its Class K Certificate agrees to, indemnify the Trustee, the
Certificate Registrar, the Paying Agent and the Depositor against any liability
that may result if the transfer is not so exempt or is not made in accordance
with such federal and state laws.

               No service charge will be imposed for any registration of
transfer or exchange of Class K Certificates, but the Certificate Registrar may
require payment of a sum sufficient to cover any tax or other governmental
charge that may be imposed in connection with any transfer or exchange of Class
K Certificates.

               Notwithstanding the foregoing, for so long as this Certificate is
registered in the name of Cede & Co. or in such other name as is requested by an
authorized representative of DTC, transfers of interests in this Certificate
shall be made through the book-entry facilities of DTC.

               The Depositor, the Master Servicer, the Special Servicer, the
Trustee, the Paying Agent and the Certificate Registrar and any agent of the
Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying
Agent or the Certificate Registrar may treat the Person in whose name this
Certificate is registered as the owner hereof for all purposes whatsoever and
none of the Depositor, the Master Servicer, the Special Servicer, the Trustee,
the Paying Agent, the Certificate Registrar, or any such agent shall be affected
by notice to the contrary.

               The Trust Fund and the obligations created by the Agreement shall
terminate upon distribution (or provision for distribution) to the
Certificateholders of all amounts held by or on behalf of the Trustee and
required to be distributed to them pursuant to the Agreement following the
earlier to occur of (i) the final payment (or any advance with respect thereto)
or other liquidation of the last Mortgage Loan or REO Property remaining in the
Trust Fund, and (ii) the purchase by the Master Servicer, the Special Servicer
or the Majority Subordinate Certificateholder at a price determined as provided
in the Agreement of all Mortgage Loans and each REO Property remaining in the
Trust Fund. The Agreement permits, but does not require, the Master Servicer,
the Special Servicer or the Majority Subordinate Certificateholder to purchase
from the Trust Fund all Mortgage Loans and each REO Property remaining therein.
The exercise of such right will effect early retirement of the Class K
Certificates; however, such right to purchase is subject to the aggregate Stated
Principal Balance of the Mortgage Pool at the time of purchase being less than
1% of the aggregate Stated Principal Balance of the Mortgage Loans as of the
Cut-Off Date specified on the face hereof.

               In addition, any exchange by any Certificateholder of all of the
then outstanding Certificates (other than the Class Z, Class R-I and Class R-II
Certificates) for all of the Mortgage Loans and each REO Property remaining in
the Trust Fund may be made: (i) if the then outstanding Certificates (other than
the Class Z, Class R-I and Class R-II Certificates) are held by a single
Certificateholder and (ii) the Class A-1, Class A-2, Class A-3, Class A-PB,
Class A-4, Class A-1A, Class A-M, Class A-J, Class B, Class C, Class D and Class
E Certificates have been paid in full.

               The Agreement permits, with certain exceptions therein provided,
the amendment thereof and the modification of the rights and obligations of the
Depositor, the Master Servicer, the Special Servicer and the Trustee and the
rights of the Certificateholders under the Agreement at any time by the
Depositor, the Master Servicer, the Special Servicer and the Trustee with the
consent of the Holders of Certificates entitled to at least 51% of the Voting
Rights allocated to the affected Classes. Any such consent by the Holder of this
Certificate shall be conclusive and binding on such Holder and upon all future
Holders of this Certificate and of any Certificate issued upon the transfer
hereof or in exchange herefor or in lieu hereof whether or not notation of such
consent is made upon this Certificate. The Agreement also permits the amendment
thereof, in certain limited circumstances, including any amendment necessary to
maintain the status of the Trust Fund (or designated portions thereof) as
consisting of two separate REMICs and one grantor trust, without the consent of
the Holders of any of the Certificates.

               Unless the certificate of authentication hereon has been executed
by the Certificate Registrar, by manual signature, this Certificate shall not be
entitled to any benefit under the Agreement or be valid for any purpose.

               The registered Holder hereof, by its acceptance hereof, agrees
that it will look solely to the Trust Fund (to the extent of its rights therein)
for distributions hereunder.

               This Certificate shall be construed in accordance with the
internal laws of the State of New York applicable to agreements made and to be
performed in said State, and the obligations, rights and remedies of the Holder
hereof shall be determined in accordance with such laws.

<PAGE>

               IN WITNESS WHEREOF, the Certificate Registrar has caused this
Certificate to be duly executed.

Dated: December 21, 2006

                                          WELLS FARGO BANK, N.A., as Certificate
                                              Registrar

                                          By: __________________________________
                                              Authorized Representative

                          CERTIFICATE OF AUTHENTICATION

               This is one of the Class K Certificates referred to in the
within-mentioned Agreement.

                                          WELLS FARGO BANK, N.A., as
                                              Authenticating Agent

                                          By: __________________________________
                                              Authorized Representative

<PAGE>

                                   ASSIGNMENT

               FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and
transfer(s) unto ________________________________________________________
(please print or typewrite name and address including postal zip code of
assignee) the beneficial ownership interest in the Trust Fund evidenced by the
within Commercial Mortgage Pass-Through Certificate and hereby authorize(s) the
registration of transfer of such interest to assignee on the Certificate
Register of the Trust Fund.

               I (we) further direct the Certificate Registrar to issue a new
Commercial Mortgage Pass-Through Certificate of a like Percentage Interest and
Class to the above named assignee and deliver such Commercial Mortgage
Pass-Through Certificate to the following address:
_________________________________________________________________________.

Dated: _________________________

                                          ______________________________________
                                           Signature by or on behalf of Assignor

                                          ______________________________________
                                                 Signature Guaranteed

<PAGE>

                            DISTRIBUTION INSTRUCTIONS

               The Assignee should include the following for purposes of
distribution:

               Distributions shall, if permitted, be made by wire transfer or
otherwise, in immediately available funds, to _____________________________ for
the account of _______________.

               Distributions made by check (such check to be made payable to
_____________________) and all applicable statements and notices should be
mailed to _____________________________.

               This information is provided by ________________________________,
the Assignee named above, or ____________________________________, as its agent.

<PAGE>

                                 EXHIBIT A-19-1

                           FORM OF CLASS L CERTIFICATE

              CLASS L COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATE,
                                 SERIES 2006-C29

evidencing a beneficial ownership interest in a trust fund (the "Trust Fund")
consisting primarily of a pool of multifamily and commercial mortgage loans (the
"Mortgage Loans"), such pool being formed and sold by

                     WACHOVIA BANK COMMERCIAL MORTGAGE TRUST

Pass-Through Rate: Variable                  Class Principal Balance of the
                                             Class L Certificates as of the
                                             Closing Date: $8,428,000

Date of Pooling and Servicing Agreement:     Initial Certificate Principal
as of December 1, 2006                       Balance of this Class L Certificate
                                             as of the Closing Date: $8,428,000

Closing Date: December 21, 2006              Aggregate Stated Principal Balance
                                             of the Mortgage Loans as of the
                                             Cut-Off Date: $3,371,274,173

First Distribution Date: January 18, 2007

Master Servicer: Wachovia Bank, National     Trustee: Wells Fargo Bank, N.A.
Association

Special Servicer: LNR Partners, Inc.

Certificate No. L-1                          CUSIP No. [_]

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST CORPORATION, A NEW YORK CORPORATION ("DTC"), TO THE DEPOSITOR,
THE MASTER SERVICER, THE TRUSTEE, THE CERTIFICATE REGISTRAR OR ANY AGENT THEREOF
FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED
IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO
SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY
TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON
IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
HEREIN.

THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN WACHOVIA
COMMERCIAL MORTGAGE SECURITIES, INC., WELLS FARGO BANK, N.A., LNR PARTNERS,
INC., WACHOVIA BANK, NATIONAL ASSOCIATION OR ANY OF THEIR RESPECTIVE AFFILIATES.
NEITHER THIS CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS ARE GUARANTEED BY ANY
AGENCY OR INSTRUMENTALITY OF THE UNITED STATES OR ANY OTHER PERSON.

THIS CERTIFICATE HAS NOT BEEN REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT
OF 1933 (THE "SECURITIES ACT") OR THE SECURITIES LAWS OF ANY STATE. ANY RESALE,
TRANSFER OR OTHER DISPOSITION OF THIS CERTIFICATE WITHOUT SUCH REGISTRATION OR
QUALIFICATION MAY BE MADE ONLY IN A TRANSACTION WHICH DOES NOT REQUIRE SUCH
REGISTRATION OR QUALIFICATION AND IN ACCORDANCE WITH THE PROVISIONS OF SECTION
5.02 OF THE AGREEMENT REFERRED TO HEREIN.

SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE IS A "REGULAR
INTEREST" IN A "REAL ESTATE MORTGAGE INVESTMENT CONDUIT" (A "REMIC") AS THOSE
TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL
REVENUE CODE OF 1986 (THE "CODE").

THIS CERTIFICATE IS SUBORDINATE TO THE CLASS A-1 CERTIFICATES, THE CLASS A-2
CERTIFICATES, THE CLASS A-3 CERTIFICATES, THE CLASS A-PB CERTIFICATES, THE CLASS
A-4 CERTIFICATES, THE CLASS A-1A CERTIFICATES, THE CLASS A-M CERTIFICATES, THE
CLASS A-J CERTIFICATES, THE CLASS B CERTIFICATES, THE CLASS C CERTIFICATES, THE
CLASS D CERTIFICATES, THE CLASS E CERTIFICATES, THE CLASS F CERTIFICATES, THE
CLASS G CERTIFICATES, THE CLASS H CERTIFICATES, THE CLASS J CERTIFICATES AND THE
CLASS K CERTIFICATES OF THE SAME SERIES TO THE EXTENT DESCRIBED IN THE AGREEMENT
REFERRED TO HEREIN.

NO TRANSFER OF THIS CERTIFICATE OR ANY INTEREST THEREIN SHALL BE MADE TO ANY
"EMPLOYEE BENEFIT PLAN" SUBJECT TO TITLE I OF ERISA OR A "PLAN" DESCRIBED BY
SECTION 4975(E)(1) OF THE CODE OR ANY OTHER RETIREMENT PLAN OR OTHER EMPLOYEE
BENEFIT PLAN OR ARRANGEMENT SUBJECT TO ANY FEDERAL, STATE OR LOCAL LAW
MATERIALLY SIMILAR TO THE FOREGOING PROVISIONS OF ERISA AND THE CODE, OR ANY
ENTITY DEEMED TO HOLD PLAN ASSETS OF THE FOREGOING BY REASON OF A PLAN'S
INVESTMENT IN SUCH ENTITY (EACH, A "PLAN") UNLESS IT IS AN INSURANCE COMPANY
GENERAL ACCOUNT WHICH IS ELIGIBLE FOR, AND SATISFIES ALL OF THE REQUIREMENTS
FOR, EXEMPTIVE RELIEF UNDER SECTIONS I AND III OF DEPARTMENT OF LABOR PROHIBITED
TRANSACTION CLASS EXEMPTION 95-60. EACH PERSON WHO ACQUIRES THIS CERTIFICATE
SHALL BE REQUIRED (OR, IN THE CASE OF A BOOK-ENTRY CERTIFICATE, DEEMED) TO HAVE
CERTIFIED THAT THE FOREGOING CONDITIONS ARE SATISFIED, AND THAT IT WILL NOT
TRANSFER THIS CERTIFICATE IN VIOLATION OF THE FOREGOING.

IF THE AGGREGATE CERTIFICATE PRINCIPAL BALANCE OF THE CLASS A-1 CERTIFICATES,
THE CLASS A-2 CERTIFICATES, THE CLASS A-3 CERTIFICATES, THE CLASS A-PB
CERTIFICATES, THE CLASS A-4 CERTIFICATES, THE CLASS A-1A CERTIFICATES, THE CLASS
A-M CERTIFICATES, THE CLASS A-J CERTIFICATES, THE CLASS B CERTIFICATES, THE
CLASS C CERTIFICATES, THE CLASS D CERTIFICATES, THE CLASS E CERTIFICATES, THE
CLASS F CERTIFICATES, THE CLASS G CERTIFICATES, THE CLASS H CERTIFICATES, THE
CLASS J CERTIFICATES AND THE CLASS K CERTIFICATES OF THE SAME SERIES IS REDUCED
TO ZERO, DISTRIBUTIONS IN REDUCTION OF THE CERTIFICATE PRINCIPAL BALANCE OF THIS
CERTIFICATE MAY BE MADE MONTHLY AS SET FORTH IN THE POOLING AND SERVICING
AGREEMENT REFERRED TO HEREIN. IN ADDITION, IF THE AGGREGATE CERTIFICATE
PRINCIPAL BALANCE OF THE CLASS M, CLASS N, CLASS O, CLASS P AND CLASS Q
CERTIFICATES OF THE SAME SERIES IS REDUCED TO ZERO, THE CERTIFICATE PRINCIPAL
BALANCE OF THIS CERTIFICATE MAY BE REDUCED BY CERTAIN LOSSES AND EXPENSES
EXPERIENCED BY THE TRUST FUND AS SET FORTH IN THE AGREEMENT REFERRED TO HEREIN.
ACCORDINGLY, THE OUTSTANDING CERTIFICATE PRINCIPAL BALANCE HEREOF AT ANY TIME
MAY BE LESS THAN THE AMOUNT SHOWN ABOVE.

               This certifies that Cede & Co. is the registered owner of the
Percentage Interest evidenced by this Class L Certificate (obtained by dividing
the principal amount of this Class L Certificate (its "Certificate Principal
Balance") as of the Closing Date by the aggregate principal amount of all the
Class L Certificates (their "Class Principal Balance") as of the Closing Date)
in that certain beneficial ownership interest evidenced by all the Class L
Certificates in the Trust Fund created pursuant to a Pooling and Servicing
Agreement, dated as specified above (the "Agreement"), among Wachovia Commercial
Mortgage Securities, Inc. (herein called the "Depositor", which term includes
any successor entity under the Agreement), Wachovia Bank, National Association
(herein called the "Master Servicer", which term includes any successor entity
under the Agreement), LNR Partners, Inc. (herein called the "Special Servicer",
which term includes any successor entity under the Agreement) and Wells Fargo
Bank, N.A. (herein called the "Trustee", which term includes any successor
entity under the Agreement), a summary of certain of the pertinent provisions of
which is set forth hereafter. To the extent not defined herein, the capitalized
terms used herein have the respective meanings assigned in the Agreement. This
Certificate is issued under and is subject to the terms, provisions and
conditions of the Agreement, to which Agreement the Holder of this Certificate
by virtue of the acceptance hereof assents and by which such Holder is bound.

               Pursuant to the terms of the Agreement, distributions will be
made on the fourth Business Day following the related Determination Date (each,
a "Distribution Date"). The Determination Date is the 11th day of each month or,
if such 11th day is not a Business Day, the Business Day immediately succeeding,
commencing in January 2007 (each, a "Determination Date"). Distributions will be
made commencing on the first Distribution Date specified above, to the Person in
whose name this Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such distribution
(the "Record Date"), in an amount equal to the product of the Percentage
Interest evidenced by this Certificate and the amount required to be distributed
to the Holders of the Class L Certificates on the applicable Distribution Date
pursuant to the Agreement. All distributions made under the Agreement on the
Class L Certificates will be made by Wells Fargo Bank, N.A., as paying agent
(the "Paying Agent"), by wire transfer of immediately available funds to the
account of the Person entitled thereto at a bank or other entity having
appropriate facilities therefor, if such Certificateholder shall have provided
the Paying Agent with wiring instructions no less than five Business Days prior
to the related Record Date (which wiring instructions may be in the form of a
standing order applicable to all subsequent distributions), or otherwise by
check mailed to the address of such Certificateholder as it appears in the
Certificate Register. Notwithstanding the foregoing, the final distribution on
this Certificate (determined without regard to any possible future reimbursement
of any Realized Loss or Additional Trust Fund Expense previously allocated to
this Certificate) will be made in like manner, but only upon presentation and
surrender of this Certificate at the offices of the Certificate Registrar or
such other location specified in the notice to the Holder hereof of such final
distribution. Also notwithstanding the foregoing, any distribution that may be
made with respect to this Certificate in reimbursement of any Realized Loss or
Additional Trust Fund Expense previously allocated to this Certificate, which
reimbursement is to occur after the date on which this Certificate is
surrendered as contemplated by the preceding sentence, will be made by check
mailed to the address of the Holder that surrenders this Certificate as such
address last appears in the Certificate Register or to any such other address of
which the Paying Agent is subsequently notified in writing.

               The Certificates are limited in right of distribution to certain
collections and recoveries respecting the Mortgage Loans and REO Loans, all as
more specifically set forth herein and in the Agreement. As provided in the
Agreement, withdrawals from the Certificate Account, the Distribution Account
and, if established, the REO Account may be made from time to time for purposes
other than, and, in certain cases, prior to, distributions to
Certificateholders, such purposes including the reimbursement of Advances made,
or certain expenses incurred, with respect to the Mortgage Loans and the payment
of interest on such Advances and expenses.

               Interest accrued on this Certificate during an Interest Accrual
Period, plus any unpaid interest shortfall with respect to this Certificate for
any prior Distribution Date, if any, will be payable on the related Distribution
Date to the extent provided in the Agreement. The "Interest Accrual Period" with
respect to any Distribution Date and with respect to the Class L Certificates is
the calendar month preceding the month in which such Distribution Date occurs
and is assumed to consist of 30 days.

               Any distribution to the Holder of this Certificate in reduction
of the Certificate Principal Balance hereof is binding on such Holder and all
future Holders of this Certificate and any Certificate issued upon the transfer
hereof or in exchange herefor or in lieu hereof whether or not notation of such
distribution is made upon this Certificate.

               The Class L Certificates are issuable in fully registered form
only without coupons in minimum denominations specified in the Agreement. As
provided in the Agreement and subject to certain limitations therein set forth,
the Class L Certificates are exchangeable for new Class L Certificates in
authorized denominations evidencing the same aggregate Percentage Interest, as
requested by the Holder surrendering the same.

               As provided in the Agreement and subject to certain limitations
therein set forth, the transfer of this Certificate is registrable in the
Certificate Register upon surrender of this Certificate for registration of
transfer at the offices of the Certificate Registrar, duly endorsed by, or
accompanied by a written instrument of transfer in the form satisfactory to the
Certificate Registrar duly executed by, the Holder hereof or his attorney duly
authorized in writing, and thereupon one or more new Class L Certificates in
authorized denominations evidencing the same aggregate Percentage Interest will
be issued to the designated transferee or transferees.

               No transfer of any Class L Certificate shall be made unless that
transfer is made pursuant to an effective registration statement under the
Securities Act, and effective registration or qualification under applicable
state securities laws, or is made in a transaction which does not require such
registration or qualification. If such a transfer is to be made without
registration under the Securities Act (other than in connection with the initial
issuance thereof or the initial transfer thereof by the Depositor, the Initial
Purchaser or their respective affiliates), then the Certificate Registrar shall
refuse to register such transfer unless it receives either: (i) a certificate
from the Certificateholder desiring to effect such transfer substantially in the
form attached as Exhibit F-1 to the Agreement, and a certificate from such
Certificateholder's prospective transferee substantially in the form attached as
either Exhibit F-2, Exhibit F-3, Exhibit F-4, Exhibit F-5 or Exhibit F-6 to the
Agreement; or (ii) an Opinion of Counsel reasonably satisfactory to the
Certificate Registrar to the effect that such transfer may be made without
registration under the Securities Act (which Opinion of Counsel shall not be an
expense of the Trust Fund or of the Depositor, the Master Servicer, the Special
Servicer, the Trustee, the Paying Agent or the Certificate Registrar in their
respective capacities as such), together with the written certification(s) as to
the facts surrounding such transfer from the Certificateholder desiring to
effect such transfer and/or such Certificateholder's prospective transferee on
which such Opinion of Counsel is based. None of the Depositor, the Trustee,
Paying Agent or the Certificate Registrar is obligated to register or qualify
the Class L Certificates under the Securities Act or any other securities law or
to take any action not otherwise required under the Agreement to permit the
transfer of any Class L Certificate without registration or qualification. Any
Class L Certificateholder desiring to effect such a transfer shall, and by the
acceptance of its Class L Certificate agrees to, indemnify the Trustee, the
Certificate Registrar, the Paying Agent and the Depositor against any liability
that may result if the transfer is not so exempt or is not made in accordance
with such federal and state laws.

               No service charge will be imposed for any registration of
transfer or exchange of Class L Certificates, but the Certificate Registrar may
require payment of a sum sufficient to cover any tax or other governmental
charge that may be imposed in connection with any transfer or exchange of Class
L Certificates.

               Notwithstanding the foregoing, for so long as this Certificate is
registered in the name of Cede & Co. or in such other name as is requested by an
authorized representative of DTC, transfers of interests in this Certificate
shall be made through the book-entry facilities of DTC.

               The Depositor, the Master Servicer, the Special Servicer, the
Trustee, the Paying Agent and the Certificate Registrar and any agent of the
Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying
Agent or the Certificate Registrar may treat the Person in whose name this
Certificate is registered as the owner hereof for all purposes whatsoever and
none of the Depositor, the Master Servicer, the Special Servicer, the Trustee,
the Paying Agent, the Certificate Registrar, or any such agent shall be affected
by notice to the contrary.

               The Trust Fund and the obligations created by the Agreement shall
terminate upon distribution (or provision for distribution) to the
Certificateholders of all amounts held by or on behalf of the Trustee and
required to be distributed to them pursuant to the Agreement following the
earlier to occur of (i) the final payment (or any advance with respect thereto)
or other liquidation of the last Mortgage Loan or REO Property remaining in the
Trust Fund, and (ii) the purchase by the Master Servicer, the Special Servicer
or the Majority Subordinate Certificateholder at a price determined as provided
in the Agreement of all Mortgage Loans and each REO Property remaining in the
Trust Fund. The Agreement permits, but does not require, the Master Servicer,
the Special Servicer or the Majority Subordinate Certificateholder to purchase
from the Trust Fund all Mortgage Loans and each REO Property remaining therein.
The exercise of such right will effect early retirement of the Class L
Certificates; however, such right to purchase is subject to the aggregate Stated
Principal Balance of the Mortgage Pool at the time of purchase being less than
1% of the aggregate Stated Principal Balance of the Mortgage Loans as of the
Cut-Off Date specified on the face hereof.

               In addition, any exchange by any Certificateholder of all of the
then outstanding Certificates (other than the Class Z, Class R-I and Class R-II
Certificates) for all of the Mortgage Loans and each REO Property remaining in
the Trust Fund may be made: (i) if the then outstanding Certificates (other than
the Class Z, Class R-I and Class R-II Certificates) are held by a single
Certificateholder and (ii) the Class A-1, Class A-2, Class A-3, Class A-PB,
Class A-4, Class A-1A, Class A-M, Class A-J, Class B, Class C, Class D and Class
E Certificates have been paid in full.

               The Agreement permits, with certain exceptions therein provided,
the amendment thereof and the modification of the rights and obligations of the
Depositor, the Master Servicer, the Special Servicer and the Trustee and the
rights of the Certificateholders under the Agreement at any time by the
Depositor, the Master Servicer, the Special Servicer and the Trustee with the
consent of the Holders of Certificates entitled to at least 51% of the Voting
Rights allocated to the affected Classes. Any such consent by the Holder of this
Certificate shall be conclusive and binding on such Holder and upon all future
Holders of this Certificate and of any Certificate issued upon the transfer
hereof or in exchange herefor or in lieu hereof whether or not notation of such
consent is made upon this Certificate. The Agreement also permits the amendment
thereof, in certain limited circumstances, including any amendment necessary to
maintain the status of the Trust Fund (or designated portions thereof) as
consisting of two separate REMICs and one grantor trust, without the consent of
the Holders of any of the Certificates.

               Unless the certificate of authentication hereon has been executed
by the Certificate Registrar, by manual signature, this Certificate shall not be
entitled to any benefit under the Agreement or be valid for any purpose.

               The registered Holder hereof, by its acceptance hereof, agrees
that it will look solely to the Trust Fund (to the extent of its rights therein)
for distributions hereunder.

               This Certificate shall be construed in accordance with the
internal laws of the State of New York applicable to agreements made and to be
performed in said State, and the obligations, rights and remedies of the Holder
hereof shall be determined in accordance with such laws.

<PAGE>

               IN WITNESS WHEREOF, the Certificate Registrar has caused this
Certificate to be duly executed.

Dated: December 21, 2006

                                          WELLS FARGO BANK, N.A., as Certificate
                                              Registrar

                                          By: __________________________________
                                              Authorized Representative

                          CERTIFICATE OF AUTHENTICATION

               This is one of the Class L Certificates referred to in the
within-mentioned Agreement.

                                          WELLS FARGO BANK, N.A., as
                                              Authenticating Agent

                                          By: __________________________________
                                              Authorized Representative

<PAGE>

                                   ASSIGNMENT

               FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and
transfer(s) unto ________________________________________________________
(please print or typewrite name and address including postal zip code of
assignee) the beneficial ownership interest in the Trust Fund evidenced by the
within Commercial Mortgage Pass-Through Certificate and hereby authorize(s) the
registration of transfer of such interest to assignee on the Certificate
Register of the Trust Fund.

               I (we) further direct the Certificate Registrar to issue a new
Commercial Mortgage Pass-Through Certificate of a like Percentage Interest and
Class to the above named assignee and deliver such Commercial Mortgage
Pass-Through Certificate to the following address:
_________________________________________________________________________.

Dated: _________________________

                                          ______________________________________
                                           Signature by or on behalf of Assignor

                                          ______________________________________
                                                  Signature Guaranteed

<PAGE>

                            DISTRIBUTION INSTRUCTIONS

               The Assignee should include the following for purposes of
distribution:

               Distributions shall, if permitted, be made by wire transfer or
otherwise, in immediately available funds, to _____________________________ for
the account of _______________.

               Distributions made by check (such check to be made payable to
_____________________) and all applicable statements and notices should be
mailed to _____________________________.

               This information is provided by ________________________________,
the Assignee named above, or ____________________________________, as its agent.

<PAGE>

                                 EXHIBIT A-19-2

                           FORM OF CLASS L CERTIFICATE

              CLASS L COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATE,
                                 SERIES 2006-C29

evidencing a beneficial ownership interest in a trust fund (the "Trust Fund")
consisting primarily of a pool of multifamily and commercial mortgage loans (the
"Mortgage Loans"), such pool being formed and sold by

                     WACHOVIA BANK COMMERCIAL MORTGAGE TRUST

Pass-Through Rate: Variable                  Class Principal Balance of the
                                             Class L Certificates as of the
                                             Closing Date: $8,428,000

Date of Pooling and Servicing Agreement:     Initial Certificate Principal
as of December 1, 2006                       Balance of this Class L Certificate
                                             as of the Closing Date: $0

Closing Date: December 21, 2006              Aggregate Stated Principal Balance
                                             of the Mortgage Loans as of the
                                             Cut-Off Date: $3,371,274,173

First Distribution Date: January 18, 2007

Master Servicer: Wachovia Bank, National     Trustee: Wells Fargo Bank, N.A.
Association

Special Servicer: LNR Partners, Inc.

Certificate No. L-2                          CUSIP No. [_]

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST CORPORATION, A NEW YORK CORPORATION ("DTC"), TO THE DEPOSITOR,
THE MASTER SERVICER, THE TRUSTEE, THE CERTIFICATE REGISTRAR OR ANY AGENT THEREOF
FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED
IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO
SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY
TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON
IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
HEREIN.

THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN WACHOVIA
COMMERCIAL MORTGAGE SECURITIES, INC., WELLS FARGO BANK, N.A., LNR PARTNERS,
INC., WACHOVIA BANK, NATIONAL ASSOCIATION OR ANY OF THEIR RESPECTIVE AFFILIATES.
NEITHER THIS CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS ARE GUARANTEED BY ANY
AGENCY OR INSTRUMENTALITY OF THE UNITED STATES OR ANY OTHER PERSON.

THIS CERTIFICATE HAS NOT BEEN REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT
OF 1933 (THE "SECURITIES ACT") OR THE SECURITIES LAWS OF ANY STATE. ANY RESALE,
TRANSFER OR OTHER DISPOSITION OF THIS CERTIFICATE WITHOUT SUCH REGISTRATION OR
QUALIFICATION MAY BE MADE ONLY IN A TRANSACTION WHICH DOES NOT REQUIRE SUCH
REGISTRATION OR QUALIFICATION AND IN ACCORDANCE WITH THE PROVISIONS OF SECTION
5.02 OF THE AGREEMENT REFERRED TO HEREIN.

SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE IS A "REGULAR
INTEREST" IN A "REAL ESTATE MORTGAGE INVESTMENT CONDUIT" (A "REMIC") AS THOSE
TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL
REVENUE CODE OF 1986 (THE "CODE").

THIS CERTIFICATE IS SUBORDINATE TO THE CLASS A-1 CERTIFICATES, THE CLASS A-2
CERTIFICATES, THE CLASS A-3 CERTIFICATES, THE CLASS A-PB CERTIFICATES, THE CLASS
A-4 CERTIFICATES, THE CLASS A-1A CERTIFICATES, THE CLASS A-M CERTIFICATES, THE
CLASS A-J CERTIFICATES, THE CLASS B CERTIFICATES, THE CLASS C CERTIFICATES, THE
CLASS D CERTIFICATES, THE CLASS E CERTIFICATES, THE CLASS F CERTIFICATES, THE
CLASS G CERTIFICATES, THE CLASS H CERTIFICATES, THE CLASS J CERTIFICATES AND THE
CLASS K CERTIFICATES OF THE SAME SERIES TO THE EXTENT DESCRIBED IN THE AGREEMENT
REFERRED TO HEREIN.

NO TRANSFER OF THIS CERTIFICATE OR ANY INTEREST THEREIN SHALL BE MADE TO ANY
"EMPLOYEE BENEFIT PLAN" SUBJECT TO TITLE I OF ERISA OR A "PLAN" DESCRIBED BY
SECTION 4975(E)(1) OF THE CODE OR ANY OTHER RETIREMENT PLAN OR OTHER EMPLOYEE
BENEFIT PLAN OR ARRANGEMENT SUBJECT TO ANY FEDERAL, STATE OR LOCAL LAW
MATERIALLY SIMILAR TO THE FOREGOING PROVISIONS OF ERISA AND THE CODE, OR ANY
ENTITY DEEMED TO HOLD PLAN ASSETS OF THE FOREGOING BY REASON OF A PLAN'S
INVESTMENT IN SUCH ENTITY (EACH, A "PLAN") UNLESS IT IS AN INSURANCE COMPANY
GENERAL ACCOUNT WHICH IS ELIGIBLE FOR, AND SATISFIES ALL OF THE REQUIREMENTS
FOR, EXEMPTIVE RELIEF UNDER SECTIONS I AND III OF DEPARTMENT OF LABOR PROHIBITED
TRANSACTION CLASS EXEMPTION 95-60. EACH PERSON WHO ACQUIRES THIS CERTIFICATE
SHALL BE REQUIRED (OR, IN THE CASE OF A BOOK-ENTRY CERTIFICATE, DEEMED) TO HAVE
CERTIFIED THAT THE FOREGOING CONDITIONS ARE SATISFIED, AND THAT IT WILL NOT
TRANSFER THIS CERTIFICATE IN VIOLATION OF THE FOREGOING.

IF THE AGGREGATE CERTIFICATE PRINCIPAL BALANCE OF THE CLASS A-1 CERTIFICATES,
THE CLASS A-2 CERTIFICATES, THE CLASS A-3 CERTIFICATES, THE CLASS A-PB
CERTIFICATES, THE CLASS A-4 CERTIFICATES, THE CLASS A-1A CERTIFICATES, THE CLASS
A-M CERTIFICATES, THE CLASS A-J CERTIFICATES, THE CLASS B CERTIFICATES, THE
CLASS C CERTIFICATES, THE CLASS D CERTIFICATES, THE CLASS E CERTIFICATES, THE
CLASS F CERTIFICATES, THE CLASS G CERTIFICATES, THE CLASS H CERTIFICATES, THE
CLASS J CERTIFICATES AND THE CLASS K CERTIFICATES OF THE SAME SERIES IS REDUCED
TO ZERO, DISTRIBUTIONS IN REDUCTION OF THE CERTIFICATE PRINCIPAL BALANCE OF THIS
CERTIFICATE MAY BE MADE MONTHLY AS SET FORTH IN THE POOLING AND SERVICING
AGREEMENT REFERRED TO HEREIN. IN ADDITION, IF THE AGGREGATE CERTIFICATE
PRINCIPAL BALANCE OF THE CLASS M, CLASS N, CLASS O, CLASS P AND CLASS Q
CERTIFICATES OF THE SAME SERIES IS REDUCED TO ZERO, THE CERTIFICATE PRINCIPAL
BALANCE OF THIS CERTIFICATE MAY BE REDUCED BY CERTAIN LOSSES AND EXPENSES
EXPERIENCED BY THE TRUST FUND AS SET FORTH IN THE AGREEMENT REFERRED TO HEREIN.
ACCORDINGLY, THE OUTSTANDING CERTIFICATE PRINCIPAL BALANCE HEREOF AT ANY TIME
MAY BE LESS THAN THE AMOUNT SHOWN ABOVE.

               This certifies that Cede & Co. is the registered owner of the
Percentage Interest evidenced by this Class L Certificate (obtained by dividing
the principal amount of this Class L Certificate (its "Certificate Principal
Balance") as of the Closing Date by the aggregate principal amount of all the
Class L Certificates (their "Class Principal Balance") as of the Closing Date)
in that certain beneficial ownership interest evidenced by all the Class L
Certificates in the Trust Fund created pursuant to a Pooling and Servicing
Agreement, dated as specified above (the "Agreement"), among Wachovia Commercial
Mortgage Securities, Inc. (herein called the "Depositor", which term includes
any successor entity under the Agreement), Wachovia Bank, National Association
(herein called the "Master Servicer", which term includes any successor entity
under the Agreement), LNR Partners, Inc. (herein called the "Special Servicer",
which term includes any successor entity under the Agreement) and Wells Fargo
Bank, N.A. (herein called the "Trustee", which term includes any successor
entity under the Agreement), a summary of certain of the pertinent provisions of
which is set forth hereafter. To the extent not defined herein, the capitalized
terms used herein have the respective meanings assigned in the Agreement. This
Certificate is issued under and is subject to the terms, provisions and
conditions of the Agreement, to which Agreement the Holder of this Certificate
by virtue of the acceptance hereof assents and by which such Holder is bound.

               Pursuant to the terms of the Agreement, distributions will be
made on the fourth Business Day following the related Determination Date (each,
a "Distribution Date"). The Determination Date is the 11th day of each month or,
if such 11th day is not a Business Day, the Business Day immediately succeeding,
commencing in January 2007 (each, a "Determination Date"). Distributions will be
made commencing on the first Distribution Date specified above, to the Person in
whose name this Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such distribution
(the "Record Date"), in an amount equal to the product of the Percentage
Interest evidenced by this Certificate and the amount required to be distributed
to the Holders of the Class L Certificates on the applicable Distribution Date
pursuant to the Agreement. All distributions made under the Agreement on the
Class L Certificates will be made by Wells Fargo Bank, N.A., as paying agent
(the "Paying Agent"), by wire transfer of immediately available funds to the
account of the Person entitled thereto at a bank or other entity having
appropriate facilities therefor, if such Certificateholder shall have provided
the Paying Agent with wiring instructions no less than five Business Days prior
to the related Record Date (which wiring instructions may be in the form of a
standing order applicable to all subsequent distributions), or otherwise by
check mailed to the address of such Certificateholder as it appears in the
Certificate Register. Notwithstanding the foregoing, the final distribution on
this Certificate (determined without regard to any possible future reimbursement
of any Realized Loss or Additional Trust Fund Expense previously allocated to
this Certificate) will be made in like manner, but only upon presentation and
surrender of this Certificate at the offices of the Certificate Registrar or
such other location specified in the notice to the Holder hereof of such final
distribution. Also notwithstanding the foregoing, any distribution that may be
made with respect to this Certificate in reimbursement of any Realized Loss or
Additional Trust Fund Expense previously allocated to this Certificate, which
reimbursement is to occur after the date on which this Certificate is
surrendered as contemplated by the preceding sentence, will be made by check
mailed to the address of the Holder that surrenders this Certificate as such
address last appears in the Certificate Register or to any such other address of
which the Paying Agent is subsequently notified in writing.

               The Certificates are limited in right of distribution to certain
collections and recoveries respecting the Mortgage Loans and REO Loans, all as
more specifically set forth herein and in the Agreement. As provided in the
Agreement, withdrawals from the Certificate Account, the Distribution Account
and, if established, the REO Account may be made from time to time for purposes
other than, and, in certain cases, prior to, distributions to
Certificateholders, such purposes including the reimbursement of Advances made,
or certain expenses incurred, with respect to the Mortgage Loans and the payment
of interest on such Advances and expenses.

               Interest accrued on this Certificate during an Interest Accrual
Period, plus any unpaid interest shortfall with respect to this Certificate for
any prior Distribution Date, if any, will be payable on the related Distribution
Date to the extent provided in the Agreement. The "Interest Accrual Period" with
respect to any Distribution Date and with respect to the Class L Certificates is
the calendar month preceding the month in which such Distribution Date occurs
and is assumed to consist of 30 days.

               Any distribution to the Holder of this Certificate in reduction
of the Certificate Principal Balance hereof is binding on such Holder and all
future Holders of this Certificate and any Certificate issued upon the transfer
hereof or in exchange herefor or in lieu hereof whether or not notation of such
distribution is made upon this Certificate.

               The Class L Certificates are issuable in fully registered form
only without coupons in minimum denominations specified in the Agreement. As
provided in the Agreement and subject to certain limitations therein set forth,
the Class L Certificates are exchangeable for new Class L Certificates in
authorized denominations evidencing the same aggregate Percentage Interest, as
requested by the Holder surrendering the same.

               As provided in the Agreement and subject to certain limitations
therein set forth, the transfer of this Certificate is registrable in the
Certificate Register upon surrender of this Certificate for registration of
transfer at the offices of the Certificate Registrar, duly endorsed by, or
accompanied by a written instrument of transfer in the form satisfactory to the
Certificate Registrar duly executed by, the Holder hereof or his attorney duly
authorized in writing, and thereupon one or more new Class L Certificates in
authorized denominations evidencing the same aggregate Percentage Interest will
be issued to the designated transferee or transferees.

               No transfer of any Class L Certificate shall be made unless that
transfer is made pursuant to an effective registration statement under the
Securities Act, and effective registration or qualification under applicable
state securities laws, or is made in a transaction which does not require such
registration or qualification. If such a transfer is to be made without
registration under the Securities Act (other than in connection with the initial
issuance thereof or the initial transfer thereof by the Depositor, the Initial
Purchaser or their respective affiliates), then the Certificate Registrar shall
refuse to register such transfer unless it receives either: (i) a certificate
from the Certificateholder desiring to effect such transfer substantially in the
form attached as Exhibit F-1 to the Agreement, and a certificate from such
Certificateholder's prospective transferee substantially in the form attached as
either Exhibit F-2, Exhibit F-3, Exhibit F-4, Exhibit F-5 or Exhibit F-6 to the
Agreement; or (ii) an Opinion of Counsel reasonably satisfactory to the
Certificate Registrar to the effect that such transfer may be made without
registration under the Securities Act (which Opinion of Counsel shall not be an
expense of the Trust Fund or of the Depositor, the Master Servicer, the Special
Servicer, the Trustee, the Paying Agent or the Certificate Registrar in their
respective capacities as such), together with the written certification(s) as to
the facts surrounding such transfer from the Certificateholder desiring to
effect such transfer and/or such Certificateholder's prospective transferee on
which such Opinion of Counsel is based. None of the Depositor, the Trustee,
Paying Agent or the Certificate Registrar is obligated to register or qualify
the Class L Certificates under the Securities Act or any other securities law or
to take any action not otherwise required under the Agreement to permit the
transfer of any Class L Certificate without registration or qualification. Any
Class L Certificateholder desiring to effect such a transfer shall, and by the
acceptance of its Class L Certificate agrees to, indemnify the Trustee, the
Certificate Registrar, the Paying Agent and the Depositor against any liability
that may result if the transfer is not so exempt or is not made in accordance
with such federal and state laws.

               No service charge will be imposed for any registration of
transfer or exchange of Class L Certificates, but the Certificate Registrar may
require payment of a sum sufficient to cover any tax or other governmental
charge that may be imposed in connection with any transfer or exchange of Class
L Certificates.

               Notwithstanding the foregoing, for so long as this Certificate is
registered in the name of Cede & Co. or in such other name as is requested by an
authorized representative of DTC, transfers of interests in this Certificate
shall be made through the book-entry facilities of DTC.

               The Depositor, the Master Servicer, the Special Servicer, the
Trustee, the Paying Agent and the Certificate Registrar and any agent of the
Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying
Agent or the Certificate Registrar may treat the Person in whose name this
Certificate is registered as the owner hereof for all purposes whatsoever and
none of the Depositor, the Master Servicer, the Special Servicer, the Trustee,
the Paying Agent, the Certificate Registrar, or any such agent shall be affected
by notice to the contrary.

               The Trust Fund and the obligations created by the Agreement shall
terminate upon distribution (or provision for distribution) to the
Certificateholders of all amounts held by or on behalf of the Trustee and
required to be distributed to them pursuant to the Agreement following the
earlier to occur of (i) the final payment (or any advance with respect thereto)
or other liquidation of the last Mortgage Loan or REO Property remaining in the
Trust Fund, and (ii) the purchase by the Master Servicer, the Special Servicer
or the Majority Subordinate Certificateholder at a price determined as provided
in the Agreement of all Mortgage Loans and each REO Property remaining in the
Trust Fund. The Agreement permits, but does not require, the Master Servicer,
the Special Servicer or the Majority Subordinate Certificateholder to purchase
from the Trust Fund all Mortgage Loans and each REO Property remaining therein.
The exercise of such right will effect early retirement of the Class L
Certificates; however, such right to purchase is subject to the aggregate Stated
Principal Balance of the Mortgage Pool at the time of purchase being less than
1% of the aggregate Stated Principal Balance of the Mortgage Loans as of the
Cut-Off Date specified on the face hereof.

               In addition, any exchange by any Certificateholder of all of the
then outstanding Certificates (other than the Class Z, Class R-I and Class R-II
Certificates) for all of the Mortgage Loans and each REO Property remaining in
the Trust Fund may be made: (i) if the then outstanding Certificates (other than
the Class Z, Class R-I and Class R-II Certificates) are held by a single
Certificateholder and (ii) the Class A-1, Class A-2, Class A-3, Class A-PB,
Class A-4, Class A-1A, Class A-M, Class A-J, Class B, Class C, Class D and Class
E Certificates have been paid in full.

               The Agreement permits, with certain exceptions therein provided,
the amendment thereof and the modification of the rights and obligations of the
Depositor, the Master Servicer, the Special Servicer and the Trustee and the
rights of the Certificateholders under the Agreement at any time by the
Depositor, the Master Servicer, the Special Servicer and the Trustee with the
consent of the Holders of Certificates entitled to at least 51% of the Voting
Rights allocated to the affected Classes. Any such consent by the Holder of this
Certificate shall be conclusive and binding on such Holder and upon all future
Holders of this Certificate and of any Certificate issued upon the transfer
hereof or in exchange herefor or in lieu hereof whether or not notation of such
consent is made upon this Certificate. The Agreement also permits the amendment
thereof, in certain limited circumstances, including any amendment necessary to
maintain the status of the Trust Fund (or designated portions thereof) as
consisting of two separate REMICs and one grantor trust, without the consent of
the Holders of any of the Certificates.

               Unless the certificate of authentication hereon has been executed
by the Certificate Registrar, by manual signature, this Certificate shall not be
entitled to any benefit under the Agreement or be valid for any purpose.

               The registered Holder hereof, by its acceptance hereof, agrees
that it will look solely to the Trust Fund (to the extent of its rights therein)
for distributions hereunder.

               This Certificate shall be construed in accordance with the
internal laws of the State of New York applicable to agreements made and to be
performed in said State, and the obligations, rights and remedies of the Holder
hereof shall be determined in accordance with such laws.

<PAGE>

               IN WITNESS WHEREOF, the Certificate Registrar has caused this
Certificate to be duly executed.

Dated: December 21, 2006

                                          WELLS FARGO BANK, N.A., as Certificate
                                              Registrar

                                          By: __________________________________
                                              Authorized Representative

                          CERTIFICATE OF AUTHENTICATION

               This is one of the Class L Certificates referred to in the
within-mentioned Agreement.

                                          WELLS FARGO BANK, N.A., as
                                              Authenticating Agent

                                          By: __________________________________
                                              Authorized Representative

<PAGE>

                                   ASSIGNMENT

               FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and
transfer(s) unto ________________________________________________________
(please print or typewrite name and address including postal zip code of
assignee) the beneficial ownership interest in the Trust Fund evidenced by the
within Commercial Mortgage Pass-Through Certificate and hereby authorize(s) the
registration of transfer of such interest to assignee on the Certificate
Register of the Trust Fund.

               I (we) further direct the Certificate Registrar to issue a new
Commercial Mortgage Pass-Through Certificate of a like Percentage Interest and
Class to the above named assignee and deliver such Commercial Mortgage
Pass-Through Certificate to the following address:
_________________________________________________________________________.

Dated: _________________________

                                          ______________________________________
                                           Signature by or on behalf of Assignor

                                          ______________________________________
                                                  Signature Guaranteed

<PAGE>

                            DISTRIBUTION INSTRUCTIONS

               The Assignee should include the following for purposes of
distribution:

               Distributions shall, if permitted, be made by wire transfer or
otherwise, in immediately available funds, to _____________________________ for
the account of _______________.

               Distributions made by check (such check to be made payable to
_____________________) and all applicable statements and notices should be
mailed to _____________________________.

               This information is provided by ________________________________,
the Assignee named above, or ____________________________________, as its agent.

<PAGE>

                                 EXHIBIT A-20-1

                           FORM OF CLASS M CERTIFICATE

              CLASS M COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATE,
                                 SERIES 2006-C29

evidencing a beneficial ownership interest in a trust fund (the "Trust Fund")
consisting primarily of a pool of multifamily and commercial mortgage loans (the
"Mortgage Loans"), such pool being formed and sold by

                     WACHOVIA BANK COMMERCIAL MORTGAGE TRUST

Pass-Through Rate: Variable                  Class Principal Balance of the
                                             Class M Certificates as of the
                                             Closing Date: $8,428,000

Date of Pooling and Servicing Agreement:     Initial Certificate Principal
as of December 1, 2006                       Balance of this Class M Certificate
                                             as of the Closing Date: $8,428,000

Closing Date: December 21, 2006              Aggregate Stated Principal Balance
                                             of the Mortgage Loans as of the
                                             Cut-Off Date: $3,371,274,173

First Distribution Date: January 18, 2007

Master Servicer: Wachovia Bank, National     Trustee: Wells Fargo Bank, N.A.
Association

Special Servicer: LNR Partners, Inc.

Certificate No. M-1                          CUSIP No. [_]

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST CORPORATION, A NEW YORK CORPORATION ("DTC"), TO THE DEPOSITOR,
THE MASTER SERVICER, THE TRUSTEE, THE CERTIFICATE REGISTRAR OR ANY AGENT THEREOF
FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED
IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO
SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY
TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON
IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
HEREIN.

THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN WACHOVIA
COMMERCIAL MORTGAGE SECURITIES, INC., WELLS FARGO BANK, N.A., LNR PARTNERS,
INC., WACHOVIA BANK, NATIONAL ASSOCIATION OR ANY OF THEIR RESPECTIVE AFFILIATES.
NEITHER THIS CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS ARE GUARANTEED BY ANY
AGENCY OR INSTRUMENTALITY OF THE UNITED STATES OR ANY OTHER PERSON.

THIS CERTIFICATE HAS NOT BEEN REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT
OF 1933 (THE "SECURITIES ACT") OR THE SECURITIES LAWS OF ANY STATE. ANY RESALE,
TRANSFER OR OTHER DISPOSITION OF THIS CERTIFICATE WITHOUT SUCH REGISTRATION OR
QUALIFICATION MAY BE MADE ONLY IN A TRANSACTION WHICH DOES NOT REQUIRE SUCH
REGISTRATION OR QUALIFICATION AND IN ACCORDANCE WITH THE PROVISIONS OF SECTION
5.02 OF THE AGREEMENT REFERRED TO HEREIN.

SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE IS A "REGULAR
INTEREST" IN A "REAL ESTATE MORTGAGE INVESTMENT CONDUIT" (A "REMIC") AS THOSE
TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL
REVENUE CODE OF 1986 (THE "CODE").

THIS CERTIFICATE IS SUBORDINATE TO THE CLASS A-1 CERTIFICATES, THE CLASS A-2
CERTIFICATES, THE CLASS A-3 CERTIFICATES, THE CLASS A-PB CERTIFICATES, THE CLASS
A-4 CERTIFICATES, THE CLASS A-1A CERTIFICATES, THE CLASS A-M CERTIFICATES, THE
CLASS A-J CERTIFICATES, THE CLASS B CERTIFICATES, THE CLASS C CERTIFICATES, THE
CLASS D CERTIFICATES, THE CLASS E CERTIFICATES, THE CLASS F CERTIFICATES, THE
CLASS G CERTIFICATES, THE CLASS H CERTIFICATES, THE CLASS J CERTIFICATES, THE
CLASS K CERTIFICATES AND THE CLASS L CERTIFICATES OF THE SAME SERIES TO THE
EXTENT DESCRIBED IN THE AGREEMENT REFERRED TO HEREIN.

NO TRANSFER OF THIS CERTIFICATE OR ANY INTEREST THEREIN SHALL BE MADE TO ANY
"EMPLOYEE BENEFIT PLAN" SUBJECT TO TITLE I OF ERISA OR A "PLAN" DESCRIBED BY
SECTION 4975(E)(1) OF THE CODE OR ANY OTHER RETIREMENT PLAN OR OTHER EMPLOYEE
BENEFIT PLAN OR ARRANGEMENT SUBJECT TO ANY FEDERAL, STATE OR LOCAL LAW
MATERIALLY SIMILAR TO THE FOREGOING PROVISIONS OF ERISA AND THE CODE, OR ANY
ENTITY DEEMED TO HOLD PLAN ASSETS OF THE FOREGOING BY REASON OF A PLAN'S
INVESTMENT IN SUCH ENTITY (EACH, A "PLAN") UNLESS IT IS AN INSURANCE COMPANY
GENERAL ACCOUNT WHICH IS ELIGIBLE FOR, AND SATISFIES ALL OF THE REQUIREMENTS
FOR, EXEMPTIVE RELIEF UNDER SECTIONS I AND III OF DEPARTMENT OF LABOR PROHIBITED
TRANSACTION CLASS EXEMPTION 95-60. EACH PERSON WHO ACQUIRES THIS CERTIFICATE
SHALL BE REQUIRED (OR, IN THE CASE OF A BOOK-ENTRY CERTIFICATE, DEEMED) TO HAVE
CERTIFIED THAT THE FOREGOING CONDITIONS ARE SATISFIED, AND THAT IT WILL NOT
TRANSFER THIS CERTIFICATE IN VIOLATION OF THE FOREGOING.

IF THE AGGREGATE CERTIFICATE PRINCIPAL BALANCE OF THE CLASS A-1 CERTIFICATES,
THE CLASS A-2 CERTIFICATES, THE CLASS A-3 CERTIFICATES, THE CLASS A-PB
CERTIFICATES, THE CLASS A-4 CERTIFICATES, THE CLASS A-1A CERTIFICATES, THE CLASS
A-M CERTIFICATES, THE CLASS A-J CERTIFICATES, THE CLASS B CERTIFICATES, THE
CLASS C CERTIFICATES, THE CLASS D CERTIFICATES, THE CLASS E CERTIFICATES, THE
CLASS F CERTIFICATES, THE CLASS G CERTIFICATES, THE CLASS H CERTIFICATES, THE
CLASS J CERTIFICATES, THE CLASS K CERTIFICATES AND THE CLASS L CERTIFICATES OF
THE SAME SERIES IS REDUCED TO ZERO, DISTRIBUTIONS IN REDUCTION OF THE
CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE MAY BE MADE MONTHLY AS SET
FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN. IN ADDITION, IF
THE AGGREGATE CERTIFICATE PRINCIPAL BALANCE OF THE CLASS N, CLASS O, CLASS P AND
CLASS Q CERTIFICATES OF THE SAME SERIES IS REDUCED TO ZERO, THE CERTIFICATE
PRINCIPAL BALANCE OF THIS CERTIFICATE MAY BE REDUCED BY CERTAIN LOSSES AND
EXPENSES EXPERIENCED BY THE TRUST FUND AS SET FORTH IN THE AGREEMENT REFERRED TO
HEREIN. ACCORDINGLY, THE OUTSTANDING CERTIFICATE PRINCIPAL BALANCE HEREOF AT ANY
TIME MAY BE LESS THAN THE AMOUNT SHOWN ABOVE.

               This certifies that Cede & Co. is the registered owner of the
Percentage Interest evidenced by this Class M Certificate (obtained by dividing
the principal amount of this Class M Certificate (its "Certificate Principal
Balance") as of the Closing Date by the aggregate principal amount of all the
Class M Certificates (their "Class Principal Balance") as of the Closing Date)
in that certain beneficial ownership interest evidenced by all the Class M
Certificates in the Trust Fund created pursuant to a Pooling and Servicing
Agreement, dated as specified above (the "Agreement"), among Wachovia Commercial
Mortgage Securities, Inc. (herein called the "Depositor", which term includes
any successor entity under the Agreement), Wachovia Bank, National Association
(herein called the "Master Servicer", which term includes any successor entity
under the Agreement), LNR Partners, Inc. (herein called the "Special Servicer",
which term includes any successor entity under the Agreement) and Wells Fargo
Bank, N.A. (herein called the "Trustee", which term includes any successor
entity under the Agreement), a summary of certain of the pertinent provisions of
which is set forth hereafter. To the extent not defined herein, the capitalized
terms used herein have the respective meanings assigned in the Agreement. This
Certificate is issued under and is subject to the terms, provisions and
conditions of the Agreement, to which Agreement the Holder of this Certificate
by virtue of the acceptance hereof assents and by which such Holder is bound.

               Pursuant to the terms of the Agreement, distributions will be
made on the fourth Business Day following the related Determination Date (each,
a "Distribution Date"). The Determination Date is the 11th day of each month or,
if such 11th day is not a Business Day, the Business Day immediately succeeding,
commencing in January 2007 (each, a "Determination Date"). Distributions will be
made commencing on the first Distribution Date specified above, to the Person in
whose name this Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such distribution
(the "Record Date"), in an amount equal to the product of the Percentage
Interest evidenced by this Certificate and the amount required to be distributed
to the Holders of the Class M Certificates on the applicable Distribution Date
pursuant to the Agreement. All distributions made under the Agreement on the
Class M Certificates will be made by Wells Fargo Bank, N.A., as paying agent
(the "Paying Agent"), by wire transfer of immediately available funds to the
account of the Person entitled thereto at a bank or other entity having
appropriate facilities therefor, if such Certificateholder shall have provided
the Paying Agent with wiring instructions no less than five Business Days prior
to the related Record Date (which wiring instructions may be in the form of a
standing order applicable to all subsequent distributions), or otherwise by
check mailed to the address of such Certificateholder as it appears in the
Certificate Register. Notwithstanding the foregoing, the final distribution on
this Certificate (determined without regard to any possible future reimbursement
of any Realized Loss or Additional Trust Fund Expense previously allocated to
this Certificate) will be made in like manner, but only upon presentation and
surrender of this Certificate at the offices of the Certificate Registrar or
such other location specified in the notice to the Holder hereof of such final
distribution. Also notwithstanding the foregoing, any distribution that may be
made with respect to this Certificate in reimbursement of any Realized Loss or
Additional Trust Fund Expense previously allocated to this Certificate, which
reimbursement is to occur after the date on which this Certificate is
surrendered as contemplated by the preceding sentence, will be made by check
mailed to the address of the Holder that surrenders this Certificate as such
address last appears in the Certificate Register or to any such other address of
which the Paying Agent is subsequently notified in writing.

               The Certificates are limited in right of distribution to certain
collections and recoveries respecting the Mortgage Loans and REO Loans, all as
more specifically set forth herein and in the Agreement. As provided in the
Agreement, withdrawals from the Certificate Account, the Distribution Account
and, if established, the REO Account may be made from time to time for purposes
other than, and, in certain cases, prior to, distributions to
Certificateholders, such purposes including the reimbursement of Advances made,
or certain expenses incurred, with respect to the Mortgage Loans and the payment
of interest on such Advances and expenses.

               Interest accrued on this Certificate during an Interest Accrual
Period, plus any unpaid interest shortfall with respect to this Certificate for
any prior Distribution Date, if any, will be payable on the related Distribution
Date to the extent provided in the Agreement. The "Interest Accrual Period" with
respect to any Distribution Date and with respect to the Class M Certificates is
the calendar month preceding the month in which such Distribution Date occurs
and is assumed to consist of 30 days.

               Any distribution to the Holder of this Certificate in reduction
of the Certificate Principal Balance hereof is binding on such Holder and all
future Holders of this Certificate and any Certificate issued upon the transfer
hereof or in exchange herefor or in lieu hereof whether or not notation of such
distribution is made upon this Certificate.

               The Class M Certificates are issuable in fully registered form
only without coupons in minimum denominations specified in the Agreement. As
provided in the Agreement and subject to certain limitations therein set forth,
the Class M Certificates are exchangeable for new Class M Certificates in
authorized denominations evidencing the same aggregate Percentage Interest, as
requested by the Holder surrendering the same.

               As provided in the Agreement and subject to certain limitations
therein set forth, the transfer of this Certificate is registrable in the
Certificate Register upon surrender of this Certificate for registration of
transfer at the offices of the Certificate Registrar, duly endorsed by, or
accompanied by a written instrument of transfer in the form satisfactory to the
Certificate Registrar duly executed by, the Holder hereof or his attorney duly
authorized in writing, and thereupon one or more new Class M Certificates in
authorized denominations evidencing the same aggregate Percentage Interest will
be issued to the designated transferee or transferees.

               No transfer of any Class M Certificate shall be made unless that
transfer is made pursuant to an effective registration statement under the
Securities Act, and effective registration or qualification under applicable
state securities laws, or is made in a transaction which does not require such
registration or qualification. If such a transfer is to be made without
registration under the Securities Act (other than in connection with the initial
issuance thereof or the initial transfer thereof by the Depositor, the Initial
Purchaser or their respective affiliates), then the Certificate Registrar shall
refuse to register such transfer unless it receives either: (i) a certificate
from the Certificateholder desiring to effect such transfer substantially in the
form attached as Exhibit F-1 to the Agreement, and a certificate from such
Certificateholder's prospective transferee substantially in the form attached as
either Exhibit F-2, Exhibit F-3, Exhibit F-4, Exhibit F-5 or Exhibit F-6 to the
Agreement; or (ii) an Opinion of Counsel reasonably satisfactory to the
Certificate Registrar to the effect that such transfer may be made without
registration under the Securities Act (which Opinion of Counsel shall not be an
expense of the Trust Fund or of the Depositor, the Master Servicer, the Special
Servicer, the Trustee, the Paying Agent or the Certificate Registrar in their
respective capacities as such), together with the written certification(s) as to
the facts surrounding such transfer from the Certificateholder desiring to
effect such transfer and/or such Certificateholder's prospective transferee on
which such Opinion of Counsel is based. None of the Depositor, the Trustee, the
Paying Agent or the Certificate Registrar is obligated to register or qualify
the Class M Certificates under the Securities Act or any other securities law or
to take any action not otherwise required under the Agreement to permit the
transfer of any Class M Certificate without registration or qualification. Any
Class M Certificateholder desiring to effect such a transfer shall, and by the
acceptance of its Class M Certificate agrees to, indemnify the Trustee, the
Certificate Registrar, the Paying Agent and the Depositor against any liability
that may result if the transfer is not so exempt or is not made in accordance
with such federal and state laws.

               No service charge will be imposed for any registration of
transfer or exchange of Class M Certificates, but the Certificate Registrar may
require payment of a sum sufficient to cover any tax or other governmental
charge that may be imposed in connection with any transfer or exchange of Class
M Certificates.

               Notwithstanding the foregoing, for so long as this Certificate is
registered in the name of Cede & Co. or in such other name as is requested by an
authorized representative of DTC, transfers of interests in this Certificate
shall be made through the book-entry facilities of DTC.

               The Depositor, the Master Servicer, the Special Servicer, the
Trustee, the Paying Agent and the Certificate Registrar and any agent of the
Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying
Agent or the Certificate Registrar may treat the Person in whose name this
Certificate is registered as the owner hereof for all purposes whatsoever and
none of the Depositor, the Master Servicer, the Special Servicer, the Trustee,
the Paying Agent, the Certificate Registrar, or any such agent shall be affected
by notice to the contrary.

               The Trust Fund and the obligations created by the Agreement shall
terminate upon distribution (or provision for distribution) to the
Certificateholders of all amounts held by or on behalf of the Trustee and
required to be distributed to them pursuant to the Agreement following the
earlier to occur of (i) the final payment (or any advance with respect thereto)
or other liquidation of the last Mortgage Loan or REO Property remaining in the
Trust Fund, and (ii) the purchase by the Master Servicer, the Special Servicer
or the Majority Subordinate Certificateholder at a price determined as provided
in the Agreement of all Mortgage Loans and each REO Property remaining in the
Trust Fund. The Agreement permits, but does not require, the Master Servicer,
the Special Servicer or the Majority Subordinate Certificateholder to purchase
from the Trust Fund all Mortgage Loans and each REO Property remaining therein.
The exercise of such right will effect early retirement of the Class M
Certificates; however, such right to purchase is subject to the aggregate Stated
Principal Balance of the Mortgage Pool at the time of purchase being less than
1% of the aggregate Stated Principal Balance of the Mortgage Loans as of the
Cut-Off Date specified on the face hereof.

               In addition, any exchange by any Certificateholder of all of the
then outstanding Certificates (other than the Class Z, Class R-I and Class R-II
Certificates) for all of the Mortgage Loans and each REO Property remaining in
the Trust Fund may be made: (i) if the then outstanding Certificates (other than
the Class Z, Class R-I and Class R-II Certificates) are held by a single
Certificateholder and (ii) the Class A-1, Class A-2, Class A-3, Class A-PB,
Class A-4, Class A-1A, Class A-M, Class A-J, Class B, Class C, Class D and Class
E Certificates have been paid in full.

               The Agreement permits, with certain exceptions therein provided,
the amendment thereof and the modification of the rights and obligations of the
Depositor, the Master Servicer, the Special Servicer and the Trustee and the
rights of the Certificateholders under the Agreement at any time by the
Depositor, the Master Servicer, the Special Servicer and the Trustee with the
consent of the Holders of Certificates entitled to at least 51% of the Voting
Rights allocated to the affected Classes. Any such consent by the Holder of this
Certificate shall be conclusive and binding on such Holder and upon all future
Holders of this Certificate and of any Certificate issued upon the transfer
hereof or in exchange herefor or in lieu hereof whether or not notation of such
consent is made upon this Certificate. The Agreement also permits the amendment
thereof, in certain limited circumstances, including any amendment necessary to
maintain the status of the Trust Fund (or designated portions thereof) as
consisting of two separate REMICs and one grantor trust, without the consent of
the Holders of any of the Certificates.

               Unless the certificate of authentication hereon has been executed
by the Certificate Registrar, by manual signature, this Certificate shall not be
entitled to any benefit under the Agreement or be valid for any purpose.

               The registered Holder hereof, by its acceptance hereof, agrees
that it will look solely to the Trust Fund (to the extent of its rights therein)
for distributions hereunder.

               This Certificate shall be construed in accordance with the
internal laws of the State of New York applicable to agreements made and to be
performed in said State, and the obligations, rights and remedies of the Holder
hereof shall be determined in accordance with such laws.

<PAGE>

               IN WITNESS WHEREOF, the Certificate Registrar has caused this
Certificate to be duly executed.

Dated: December 21, 2006

                                          WELLS FARGO BANK, N.A., as Certificate
                                              Registrar

                                          By: __________________________________
                                              Authorized Representative

                          CERTIFICATE OF AUTHENTICATION

               This is one of the Class M Certificates referred to in the
within-mentioned Agreement.

                                          WELLS FARGO BANK, N.A., as
                                              Authenticating Agent

                                          By: __________________________________
                                              Authorized Representative

<PAGE>

                                   ASSIGNMENT

               FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and
transfer(s) unto ________________________________________________________
(please print or typewrite name and address including postal zip code of
assignee) the beneficial ownership interest in the Trust Fund evidenced by the
within Commercial Mortgage Pass-Through Certificate and hereby authorize(s) the
registration of transfer of such interest to assignee on the Certificate
Register of the Trust Fund.

               I (we) further direct the Certificate Registrar to issue a new
Commercial Mortgage Pass-Through Certificate of a like Percentage Interest and
Class to the above named assignee and deliver such Commercial Mortgage
Pass-Through Certificate to the following address:
_________________________________________________________________________.

Dated: _________________________

                                          ______________________________________
                                           Signature by or on behalf of Assignor

                                          ______________________________________
                                                 Signature Guaranteed

<PAGE>

                            DISTRIBUTION INSTRUCTIONS

               The Assignee should include the following for purposes of
distribution:

               Distributions shall, if permitted, be made by wire transfer or
otherwise, in immediately available funds, to _____________________________ for
the account of _______________.

               Distributions made by check (such check to be made payable to
_____________________) and all applicable statements and notices should be
mailed to _____________________________.

               This information is provided by ________________________________,
the Assignee named above, or ____________________________________, as its agent.

<PAGE>

                                 EXHIBIT A-20-2

                           FORM OF CLASS M CERTIFICATE

              CLASS M COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATE,
                                 SERIES 2006-C29

evidencing a beneficial ownership interest in a trust fund (the "Trust Fund")
consisting primarily of a pool of multifamily and commercial mortgage loans (the
"Mortgage Loans"), such pool being formed and sold by

                     WACHOVIA BANK COMMERCIAL MORTGAGE TRUST

Pass-Through Rate: Variable                  Class Principal Balance of the
                                             Class M Certificates as of the
                                             Closing Date: $8,428,000

Date of Pooling and Servicing Agreement:     Initial Certificate Principal
as of December 1, 2006                       Balance of this Class M Certificate
                                             as of the Closing Date: $0

Closing Date: December 21, 2006              Aggregate Stated Principal Balance
                                             of the Mortgage Loans as of the
                                             Cut-Off Date: $3,371,274,173

First Distribution Date: January 18, 2007

Master Servicer: Wachovia Bank, National     Trustee: Wells Fargo Bank, N.A.
Association

Special Servicer: LNR Partners, Inc.

Certificate No. M-2                          CUSIP No. [_]

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST CORPORATION, A NEW YORK CORPORATION ("DTC"), TO THE DEPOSITOR,
THE MASTER SERVICER, THE TRUSTEE, THE CERTIFICATE REGISTRAR OR ANY AGENT THEREOF
FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED
IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO
SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY
TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON
IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
HEREIN.

THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN WACHOVIA
COMMERCIAL MORTGAGE SECURITIES, INC., WELLS FARGO BANK, N.A., LNR PARTNERS,
INC., WACHOVIA BANK, NATIONAL ASSOCIATION OR ANY OF THEIR RESPECTIVE AFFILIATES.
NEITHER THIS CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS ARE GUARANTEED BY ANY
AGENCY OR INSTRUMENTALITY OF THE UNITED STATES OR ANY OTHER PERSON.

THIS CERTIFICATE HAS NOT BEEN REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT
OF 1933 (THE "SECURITIES ACT") OR THE SECURITIES LAWS OF ANY STATE. ANY RESALE,
TRANSFER OR OTHER DISPOSITION OF THIS CERTIFICATE WITHOUT SUCH REGISTRATION OR
QUALIFICATION MAY BE MADE ONLY IN A TRANSACTION WHICH DOES NOT REQUIRE SUCH
REGISTRATION OR QUALIFICATION AND IN ACCORDANCE WITH THE PROVISIONS OF SECTION
5.02 OF THE AGREEMENT REFERRED TO HEREIN.

SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE IS A "REGULAR
INTEREST" IN A "REAL ESTATE MORTGAGE INVESTMENT CONDUIT" (A "REMIC") AS THOSE
TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL
REVENUE CODE OF 1986 (THE "CODE").

THIS CERTIFICATE IS SUBORDINATE TO THE CLASS A-1 CERTIFICATES, THE CLASS A-2
CERTIFICATES, THE CLASS A-3 CERTIFICATES, THE CLASS A-PB CERTIFICATES, THE CLASS
A-4 CERTIFICATES, THE CLASS A-1A CERTIFICATES, THE CLASS A-M CERTIFICATES, THE
CLASS A-J CERTIFICATES, THE CLASS B CERTIFICATES, THE CLASS C CERTIFICATES, THE
CLASS D CERTIFICATES, THE CLASS E CERTIFICATES, THE CLASS F CERTIFICATES, THE
CLASS G CERTIFICATES, THE CLASS H CERTIFICATES, THE CLASS J CERTIFICATES, THE
CLASS K CERTIFICATES AND THE CLASS L CERTIFICATES OF THE SAME SERIES TO THE
EXTENT DESCRIBED IN THE AGREEMENT REFERRED TO HEREIN.

NO TRANSFER OF THIS CERTIFICATE OR ANY INTEREST THEREIN SHALL BE MADE TO ANY
"EMPLOYEE BENEFIT PLAN" SUBJECT TO TITLE I OF ERISA OR A "PLAN" DESCRIBED BY
SECTION 4975(E)(1) OF THE CODE OR ANY OTHER RETIREMENT PLAN OR OTHER EMPLOYEE
BENEFIT PLAN OR ARRANGEMENT SUBJECT TO ANY FEDERAL, STATE OR LOCAL LAW
MATERIALLY SIMILAR TO THE FOREGOING PROVISIONS OF ERISA AND THE CODE, OR ANY
ENTITY DEEMED TO HOLD PLAN ASSETS OF THE FOREGOING BY REASON OF A PLAN'S
INVESTMENT IN SUCH ENTITY (EACH, A "PLAN") UNLESS IT IS AN INSURANCE COMPANY
GENERAL ACCOUNT WHICH IS ELIGIBLE FOR, AND SATISFIES ALL OF THE REQUIREMENTS
FOR, EXEMPTIVE RELIEF UNDER SECTIONS I AND III OF DEPARTMENT OF LABOR PROHIBITED
TRANSACTION CLASS EXEMPTION 95-60. EACH PERSON WHO ACQUIRES THIS CERTIFICATE
SHALL BE REQUIRED (OR, IN THE CASE OF A BOOK-ENTRY CERTIFICATE, DEEMED) TO HAVE
CERTIFIED THAT THE FOREGOING CONDITIONS ARE SATISFIED, AND THAT IT WILL NOT
TRANSFER THIS CERTIFICATE IN VIOLATION OF THE FOREGOING.

IF THE AGGREGATE CERTIFICATE PRINCIPAL BALANCE OF THE CLASS A-1 CERTIFICATES,
THE CLASS A-2 CERTIFICATES, THE CLASS A-3 CERTIFICATES, THE CLASS A-PB
CERTIFICATES, THE CLASS A-4 CERTIFICATES, THE CLASS A-1A CERTIFICATES, THE CLASS
A-M CERTIFICATES, THE CLASS A-J CERTIFICATES, THE CLASS B CERTIFICATES, THE
CLASS C CERTIFICATES, THE CLASS D CERTIFICATES, THE CLASS E CERTIFICATES, THE
CLASS F CERTIFICATES, THE CLASS G CERTIFICATES, THE CLASS H CERTIFICATES, THE
CLASS J CERTIFICATES, THE CLASS K CERTIFICATES AND THE CLASS L CERTIFICATES OF
THE SAME SERIES IS REDUCED TO ZERO, DISTRIBUTIONS IN REDUCTION OF THE
CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE MAY BE MADE MONTHLY AS SET
FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN. IN ADDITION, IF
THE AGGREGATE CERTIFICATE PRINCIPAL BALANCE OF THE CLASS N, CLASS O, CLASS P AND
CLASS Q CERTIFICATES OF THE SAME SERIES IS REDUCED TO ZERO, THE CERTIFICATE
PRINCIPAL BALANCE OF THIS CERTIFICATE MAY BE REDUCED BY CERTAIN LOSSES AND
EXPENSES EXPERIENCED BY THE TRUST FUND AS SET FORTH IN THE AGREEMENT REFERRED TO
HEREIN. ACCORDINGLY, THE OUTSTANDING CERTIFICATE PRINCIPAL BALANCE HEREOF AT ANY
TIME MAY BE LESS THAN THE AMOUNT SHOWN ABOVE.

               This certifies that Cede & Co. is the registered owner of the
Percentage Interest evidenced by this Class M Certificate (obtained by dividing
the principal amount of this Class M Certificate (its "Certificate Principal
Balance") as of the Closing Date by the aggregate principal amount of all the
Class M Certificates (their "Class Principal Balance") as of the Closing Date)
in that certain beneficial ownership interest evidenced by all the Class M
Certificates in the Trust Fund created pursuant to a Pooling and Servicing
Agreement, dated as specified above (the "Agreement"), among Wachovia Commercial
Mortgage Securities, Inc. (herein called the "Depositor", which term includes
any successor entity under the Agreement), Wachovia Bank, National Association
(herein called the "Master Servicer", which term includes any successor entity
under the Agreement), LNR Partners, Inc. (herein called the "Special Servicer",
which term includes any successor entity under the Agreement) and Wells Fargo
Bank, N.A. (herein called the "Trustee", which term includes any successor
entity under the Agreement), a summary of certain of the pertinent provisions of
which is set forth hereafter. To the extent not defined herein, the capitalized
terms used herein have the respective meanings assigned in the Agreement. This
Certificate is issued under and is subject to the terms, provisions and
conditions of the Agreement, to which Agreement the Holder of this Certificate
by virtue of the acceptance hereof assents and by which such Holder is bound.

               Pursuant to the terms of the Agreement, distributions will be
made on the fourth Business Day following the related Determination Date (each,
a "Distribution Date"). The Determination Date is the 11th day of each month or,
if such 11th day is not a Business Day, the Business Day immediately succeeding,
commencing in January 2007 (each, a "Determination Date"). Distributions will be
made commencing on the first Distribution Date specified above, to the Person in
whose name this Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such distribution
(the "Record Date"), in an amount equal to the product of the Percentage
Interest evidenced by this Certificate and the amount required to be distributed
to the Holders of the Class M Certificates on the applicable Distribution Date
pursuant to the Agreement. All distributions made under the Agreement on the
Class M Certificates will be made by Wells Fargo Bank, N.A., as paying agent
(the "Paying Agent"), by wire transfer of immediately available funds to the
account of the Person entitled thereto at a bank or other entity having
appropriate facilities therefor, if such Certificateholder shall have provided
the Paying Agent with wiring instructions no less than five Business Days prior
to the related Record Date (which wiring instructions may be in the form of a
standing order applicable to all subsequent distributions), or otherwise by
check mailed to the address of such Certificateholder as it appears in the
Certificate Register. Notwithstanding the foregoing, the final distribution on
this Certificate (determined without regard to any possible future reimbursement
of any Realized Loss or Additional Trust Fund Expense previously allocated to
this Certificate) will be made in like manner, but only upon presentation and
surrender of this Certificate at the offices of the Certificate Registrar or
such other location specified in the notice to the Holder hereof of such final
distribution. Also notwithstanding the foregoing, any distribution that may be
made with respect to this Certificate in reimbursement of any Realized Loss or
Additional Trust Fund Expense previously allocated to this Certificate, which
reimbursement is to occur after the date on which this Certificate is
surrendered as contemplated by the preceding sentence, will be made by check
mailed to the address of the Holder that surrenders this Certificate as such
address last appears in the Certificate Register or to any such other address of
which the Paying Agent is subsequently notified in writing.

               The Certificates are limited in right of distribution to certain
collections and recoveries respecting the Mortgage Loans and REO Loans, all as
more specifically set forth herein and in the Agreement. As provided in the
Agreement, withdrawals from the Certificate Account, the Distribution Account
and, if established, the REO Account may be made from time to time for purposes
other than, and, in certain cases, prior to, distributions to
Certificateholders, such purposes including the reimbursement of Advances made,
or certain expenses incurred, with respect to the Mortgage Loans and the payment
of interest on such Advances and expenses.

               Interest accrued on this Certificate during an Interest Accrual
Period, plus any unpaid interest shortfall with respect to this Certificate for
any prior Distribution Date, if any, will be payable on the related Distribution
Date to the extent provided in the Agreement. The "Interest Accrual Period" with
respect to any Distribution Date and with respect to the Class M Certificates is
the calendar month preceding the month in which such Distribution Date occurs
and is assumed to consist of 30 days.

               Any distribution to the Holder of this Certificate in reduction
of the Certificate Principal Balance hereof is binding on such Holder and all
future Holders of this Certificate and any Certificate issued upon the transfer
hereof or in exchange herefor or in lieu hereof whether or not notation of such
distribution is made upon this Certificate.

               The Class M Certificates are issuable in fully registered form
only without coupons in minimum denominations specified in the Agreement. As
provided in the Agreement and subject to certain limitations therein set forth,
the Class M Certificates are exchangeable for new Class M Certificates in
authorized denominations evidencing the same aggregate Percentage Interest, as
requested by the Holder surrendering the same.

               As provided in the Agreement and subject to certain limitations
therein set forth, the transfer of this Certificate is registrable in the
Certificate Register upon surrender of this Certificate for registration of
transfer at the offices of the Certificate Registrar, duly endorsed by, or
accompanied by a written instrument of transfer in the form satisfactory to the
Certificate Registrar duly executed by, the Holder hereof or his attorney duly
authorized in writing, and thereupon one or more new Class M Certificates in
authorized denominations evidencing the same aggregate Percentage Interest will
be issued to the designated transferee or transferees.

               No transfer of any Class M Certificate shall be made unless that
transfer is made pursuant to an effective registration statement under the
Securities Act, and effective registration or qualification under applicable
state securities laws, or is made in a transaction which does not require such
registration or qualification. If such a transfer is to be made without
registration under the Securities Act (other than in connection with the initial
issuance thereof or the initial transfer thereof by the Depositor, the Initial
Purchaser or their respective affiliates), then the Certificate Registrar shall
refuse to register such transfer unless it receives either: (i) a certificate
from the Certificateholder desiring to effect such transfer substantially in the
form attached as Exhibit F-1 to the Agreement, and a certificate from such
Certificateholder's prospective transferee substantially in the form attached as
either Exhibit F-2, Exhibit F-3, Exhibit F-4, Exhibit F-5 or Exhibit F-6 to the
Agreement; or (ii) an Opinion of Counsel reasonably satisfactory to the
Certificate Registrar to the effect that such transfer may be made without
registration under the Securities Act (which Opinion of Counsel shall not be an
expense of the Trust Fund or of the Depositor, the Master Servicer, the Special
Servicer, the Trustee, the Paying Agent or the Certificate Registrar in their
respective capacities as such), together with the written certification(s) as to
the facts surrounding such transfer from the Certificateholder desiring to
effect such transfer and/or such Certificateholder's prospective transferee on
which such Opinion of Counsel is based. None of the Depositor, the Trustee, the
Paying Agent or the Certificate Registrar is obligated to register or qualify
the Class M Certificates under the Securities Act or any other securities law or
to take any action not otherwise required under the Agreement to permit the
transfer of any Class M Certificate without registration or qualification. Any
Class M Certificateholder desiring to effect such a transfer shall, and by the
acceptance of its Class M Certificate agrees to, indemnify the Trustee, the
Certificate Registrar, the Paying Agent and the Depositor against any liability
that may result if the transfer is not so exempt or is not made in accordance
with such federal and state laws.

               No service charge will be imposed for any registration of
transfer or exchange of Class M Certificates, but the Certificate Registrar may
require payment of a sum sufficient to cover any tax or other governmental
charge that may be imposed in connection with any transfer or exchange of Class
M Certificates.

               Notwithstanding the foregoing, for so long as this Certificate is
registered in the name of Cede & Co. or in such other name as is requested by an
authorized representative of DTC, transfers of interests in this Certificate
shall be made through the book-entry facilities of DTC.

               The Depositor, the Master Servicer, the Special Servicer, the
Trustee, the Paying Agent and the Certificate Registrar and any agent of the
Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying
Agent or the Certificate Registrar may treat the Person in whose name this
Certificate is registered as the owner hereof for all purposes whatsoever and
none of the Depositor, the Master Servicer, the Special Servicer, the Trustee,
the Paying Agent, the Certificate Registrar, or any such agent shall be affected
by notice to the contrary.

               The Trust Fund and the obligations created by the Agreement shall
terminate upon distribution (or provision for distribution) to the
Certificateholders of all amounts held by or on behalf of the Trustee and
required to be distributed to them pursuant to the Agreement following the
earlier to occur of (i) the final payment (or any advance with respect thereto)
or other liquidation of the last Mortgage Loan or REO Property remaining in the
Trust Fund, and (ii) the purchase by the Master Servicer, the Special Servicer
or the Majority Subordinate Certificateholder at a price determined as provided
in the Agreement of all Mortgage Loans and each REO Property remaining in the
Trust Fund. The Agreement permits, but does not require, the Master Servicer,
the Special Servicer or the Majority Subordinate Certificateholder to purchase
from the Trust Fund all Mortgage Loans and each REO Property remaining therein.
The exercise of such right will effect early retirement of the Class M
Certificates; however, such right to purchase is subject to the aggregate Stated
Principal Balance of the Mortgage Pool at the time of purchase being less than
1% of the aggregate Stated Principal Balance of the Mortgage Loans as of the
Cut-Off Date specified on the face hereof.

               In addition, any exchange by any Certificateholder of all of the
then outstanding Certificates (other than the Class Z, Class R-I and Class R-II
Certificates) for all of the Mortgage Loans and each REO Property remaining in
the Trust Fund may be made: (i) if the then outstanding Certificates (other than
the Class Z, Class R-I and Class R-II Certificates) are held by a single
Certificateholder and (ii) the Class A-1, Class A-2, Class A-3, Class A-PB,
Class A-4, Class A-1A, Class A-M, Class A-J, Class B, Class C, Class D and Class
E Certificates have been paid in full.

               The Agreement permits, with certain exceptions therein provided,
the amendment thereof and the modification of the rights and obligations of the
Depositor, the Master Servicer, the Special Servicer and the Trustee and the
rights of the Certificateholders under the Agreement at any time by the
Depositor, the Master Servicer, the Special Servicer and the Trustee with the
consent of the Holders of Certificates entitled to at least 51% of the Voting
Rights allocated to the affected Classes. Any such consent by the Holder of this
Certificate shall be conclusive and binding on such Holder and upon all future
Holders of this Certificate and of any Certificate issued upon the transfer
hereof or in exchange herefor or in lieu hereof whether or not notation of such
consent is made upon this Certificate. The Agreement also permits the amendment
thereof, in certain limited circumstances, including any amendment necessary to
maintain the status of the Trust Fund (or designated portions thereof) as
consisting of two separate REMICs and one grantor trust, without the consent of
the Holders of any of the Certificates.

               Unless the certificate of authentication hereon has been executed
by the Certificate Registrar, by manual signature, this Certificate shall not be
entitled to any benefit under the Agreement or be valid for any purpose.

               The registered Holder hereof, by its acceptance hereof, agrees
that it will look solely to the Trust Fund (to the extent of its rights therein)
for distributions hereunder.

               This Certificate shall be construed in accordance with the
internal laws of the State of New York applicable to agreements made and to be
performed in said State, and the obligations, rights and remedies of the Holder
hereof shall be determined in accordance with such laws.

<PAGE>

               IN WITNESS WHEREOF, the Certificate Registrar has caused this
Certificate to be duly executed.

Dated: December 21, 2006

                                          WELLS FARGO BANK, N.A., as Certificate
                                              Registrar

                                          By: __________________________________
                                              Authorized Representative

                          CERTIFICATE OF AUTHENTICATION

               This is one of the Class M Certificates referred to in the
within-mentioned Agreement.

                                          WELLS FARGO BANK, N.A., as
                                              Authenticating Agent

                                          By: __________________________________
                                              Authorized Representative

<PAGE>

                                   ASSIGNMENT

               FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and
transfer(s) unto ________________________________________________________
(please print or typewrite name and address including postal zip code of
assignee) the beneficial ownership interest in the Trust Fund evidenced by the
within Commercial Mortgage Pass-Through Certificate and hereby authorize(s) the
registration of transfer of such interest to assignee on the Certificate
Register of the Trust Fund.

               I (we) further direct the Certificate Registrar to issue a new
Commercial Mortgage Pass-Through Certificate of a like Percentage Interest and
Class to the above named assignee and deliver such Commercial Mortgage
Pass-Through Certificate to the following address:
_________________________________________________________________________.

Dated: _________________________

                                          ______________________________________
                                           Signature by or on behalf of Assignor

                                          ______________________________________
                                                  Signature Guaranteed

<PAGE>

                            DISTRIBUTION INSTRUCTIONS

               The Assignee should include the following for purposes of
distribution:

               Distributions shall, if permitted, be made by wire transfer or
otherwise, in immediately available funds, to _____________________________ for
the account of _______________.

               Distributions made by check (such check to be made payable to
_____________________) and all applicable statements and notices should be
mailed to _____________________________.

               This information is provided by ________________________________,
the Assignee named above, or ____________________________________, as its agent.

<PAGE>

                                 EXHIBIT A-21-1

                           FORM OF CLASS N CERTIFICATE

              CLASS N COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATE,
                                 SERIES 2006-C29

evidencing a beneficial ownership interest in a trust fund (the "Trust Fund")
consisting primarily of a pool of multifamily and commercial mortgage loans (the
"Mortgage Loans"), such pool being formed and sold by

                     WACHOVIA BANK COMMERCIAL MORTGAGE TRUST

Pass-Through Rate: Variable                  Class Principal Balance of the
                                             Class N Certificates as of the
                                             Closing Date: $4,214,000

Date of Pooling and Servicing Agreement:     Initial Certificate Principal
as of December 1, 2006                       Balance of this Class N Certificate
                                             as of the Closing Date: $4,214,000

Closing Date: December 21, 2006              Aggregate Stated Principal Balance
                                             of the Mortgage Loans as of the
                                             Cut-Off Date: $3,371,274,173

First Distribution Date: January 18, 2007

Master Servicer: Wachovia Bank, National     Trustee: Wells Fargo Bank, N.A.
Association

Special Servicer: LNR Partners, Inc.

Certificate No. N-1                          CUSIP No. [_]

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST CORPORATION, A NEW YORK CORPORATION ("DTC"), TO THE DEPOSITOR,
THE MASTER SERVICER, THE TRUSTEE, THE CERTIFICATE REGISTRAR OR ANY AGENT THEREOF
FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED
IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO
SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY
TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON
IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
HEREIN.

THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN WACHOVIA
COMMERCIAL MORTGAGE SECURITIES, INC., WELLS FARGO BANK, N.A., LNR PARTNERS,
INC., WACHOVIA BANK, NATIONAL ASSOCIATION OR ANY OF THEIR RESPECTIVE AFFILIATES.
NEITHER THIS CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS ARE GUARANTEED BY ANY
AGENCY OR INSTRUMENTALITY OF THE UNITED STATES OR ANY OTHER PERSON.

THIS CERTIFICATE HAS NOT BEEN REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT
OF 1933 (THE "SECURITIES ACT") OR THE SECURITIES LAWS OF ANY STATE. ANY RESALE,
TRANSFER OR OTHER DISPOSITION OF THIS CERTIFICATE WITHOUT SUCH REGISTRATION OR
QUALIFICATION MAY BE MADE ONLY IN A TRANSACTION WHICH DOES NOT REQUIRE SUCH
REGISTRATION OR QUALIFICATION AND IN ACCORDANCE WITH THE PROVISIONS OF SECTION
5.02 OF THE AGREEMENT REFERRED TO HEREIN.

SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE IS A "REGULAR
INTEREST" IN A "REAL ESTATE MORTGAGE INVESTMENT CONDUIT" (A "REMIC") AS THOSE
TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL
REVENUE CODE OF 1986 (THE "CODE").

THIS CERTIFICATE IS SUBORDINATE TO THE CLASS A-1 CERTIFICATES, THE CLASS A-2
CERTIFICATES, THE CLASS A-3 CERTIFICATES, THE CLASS A-PB CERTIFICATES, THE CLASS
A-4 CERTIFICATES, THE CLASS A-1A CERTIFICATES, THE CLASS A-M CERTIFICATES, THE
CLASS A-J CERTIFICATES, THE CLASS B CERTIFICATES, THE CLASS C CERTIFICATES, THE
CLASS D CERTIFICATES, THE CLASS E CERTIFICATES, THE CLASS F CERTIFICATES, THE
CLASS G CERTIFICATES, THE CLASS H CERTIFICATES, THE CLASS J CERTIFICATES, THE
CLASS K CERTIFICATES, THE CLASS L CERTIFICATES AND THE CLASS M CERTIFICATES OF
THE SAME SERIES TO THE EXTENT DESCRIBED IN THE AGREEMENT REFERRED TO HEREIN.

NO TRANSFER OF THIS CERTIFICATE OR ANY INTEREST THEREIN SHALL BE MADE TO ANY
"EMPLOYEE BENEFIT PLAN" SUBJECT TO TITLE I OF ERISA OR A "PLAN" DESCRIBED BY
SECTION 4975(E)(1) OF THE CODE OR ANY OTHER RETIREMENT PLAN OR OTHER EMPLOYEE
BENEFIT PLAN OR ARRANGEMENT SUBJECT TO ANY FEDERAL, STATE OR LOCAL LAW
MATERIALLY SIMILAR TO THE FOREGOING PROVISIONS OF ERISA AND THE CODE, OR ANY
ENTITY DEEMED TO HOLD PLAN ASSETS OF THE FOREGOING BY REASON OF A PLAN'S
INVESTMENT IN SUCH ENTITY (EACH, A "PLAN") UNLESS IT IS AN INSURANCE COMPANY
GENERAL ACCOUNT WHICH IS ELIGIBLE FOR, AND SATISFIES ALL OF THE REQUIREMENTS
FOR, EXEMPTIVE RELIEF UNDER SECTIONS I AND III OF DEPARTMENT OF LABOR PROHIBITED
TRANSACTION CLASS EXEMPTION 95-60. EACH PERSON WHO ACQUIRES THIS CERTIFICATE
SHALL BE REQUIRED (OR, IN THE CASE OF A BOOK-ENTRY CERTIFICATE, DEEMED) TO HAVE
CERTIFIED THAT THE FOREGOING CONDITIONS ARE SATISFIED, AND THAT IT WILL NOT
TRANSFER THIS CERTIFICATE IN VIOLATION OF THE FOREGOING.

IF THE AGGREGATE CERTIFICATE PRINCIPAL BALANCE OF THE CLASS A-1 CERTIFICATES,
THE CLASS A-2 CERTIFICATES, THE CLASS A-3 CERTIFICATES, THE CLASS A-PB
CERTIFICATES, THE CLASS A-4 CERTIFICATES, THE CLASS A-1A CERTIFICATES, THE CLASS
A-M CERTIFICATES, THE CLASS A-J CERTIFICATES, THE CLASS B CERTIFICATES, THE
CLASS C CERTIFICATES, THE CLASS D CERTIFICATES, THE CLASS E CERTIFICATES, THE
CLASS F CERTIFICATES, THE CLASS G CERTIFICATES, THE CLASS H CERTIFICATES, THE
CLASS J CERTIFICATES, THE CLASS K CERTIFICATES, THE CLASS L CERTIFICATES AND THE
CLASS M CERTIFICATES OF THE SAME SERIES IS REDUCED TO ZERO, DISTRIBUTIONS IN
REDUCTION OF THE CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE MAY BE MADE
MONTHLY AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.
IN ADDITION, IF THE AGGREGATE CERTIFICATE PRINCIPAL BALANCE OF THE CLASS O,
CLASS P AND CLASS Q CERTIFICATES OF THE SAME SERIES IS REDUCED TO ZERO, THE
CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE MAY BE REDUCED BY CERTAIN
LOSSES AND EXPENSES EXPERIENCED BY THE TRUST FUND AS SET FORTH IN THE AGREEMENT
REFERRED TO HEREIN. ACCORDINGLY, THE OUTSTANDING CERTIFICATE PRINCIPAL BALANCE
HEREOF AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ABOVE.

               This certifies that Cede & Co. is the registered owner of the
Percentage Interest evidenced by this Class N Certificate (obtained by dividing
the principal amount of this Class N Certificate (its "Certificate Principal
Balance") as of the Closing Date by the aggregate principal amount of all the
Class N Certificates (their "Class Principal Balance") as of the Closing Date)
in that certain beneficial ownership interest evidenced by all the Class N
Certificates in the Trust Fund created pursuant to a Pooling and Servicing
Agreement, dated as specified above (the "Agreement"), among Wachovia Commercial
Mortgage Securities, Inc. (herein called the "Depositor", which term includes
any successor entity under the Agreement), Wachovia Bank, National Association
(herein called the "Master Servicer", which term includes any successor entity
under the Agreement), LNR Partners, Inc. (herein called the "Special Servicer",
which term includes any successor entity under the Agreement) and Wells Fargo
Bank, N.A. (herein called the "Trustee", which term includes any successor
entity under the Agreement), a summary of certain of the pertinent provisions of
which is set forth hereafter. To the extent not defined herein, the capitalized
terms used herein have the respective meanings assigned in the Agreement. This
Certificate is issued under and is subject to the terms, provisions and
conditions of the Agreement, to which Agreement the Holder of this Certificate
by virtue of the acceptance hereof assents and by which such Holder is bound.

               Pursuant to the terms of the Agreement, distributions will be
made on the fourth Business Day following the related Determination Date (each,
a "Distribution Date"). The Determination Date is the 11th day of each month or,
if such 11th day is not a Business Day, the Business Day immediately succeeding,
commencing in January 2007 (each, a "Determination Date"). Distributions will be
made commencing on the first Distribution Date specified above, to the Person in
whose name this Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such distribution
(the "Record Date"), in an amount equal to the product of the Percentage
Interest evidenced by this Certificate and the amount required to be distributed
to the Holders of the Class N Certificates on the applicable Distribution Date
pursuant to the Agreement. All distributions made under the Agreement on the
Class N Certificates will be made by Wells Fargo Bank, N.A., as paying agent
(the "Paying Agent"), by wire transfer of immediately available funds to the
account of the Person entitled thereto at a bank or other entity having
appropriate facilities therefor, if such Certificateholder shall have provided
the Paying Agent with wiring instructions no less than five Business Days prior
to the related Record Date (which wiring instructions may be in the form of a
standing order applicable to all subsequent distributions), or otherwise by
check mailed to the address of such Certificateholder as it appears in the
Certificate Register. Notwithstanding the foregoing, the final distribution on
this Certificate (determined without regard to any possible future reimbursement
of any Realized Loss or Additional Trust Fund Expense previously allocated to
this Certificate) will be made in like manner, but only upon presentation and
surrender of this Certificate at the offices of the Certificate Registrar or
such other location specified in the notice to the Holder hereof of such final
distribution. Also notwithstanding the foregoing, any distribution that may be
made with respect to this Certificate in reimbursement of any Realized Loss or
Additional Trust Fund Expense previously allocated to this Certificate, which
reimbursement is to occur after the date on which this Certificate is
surrendered as contemplated by the preceding sentence, will be made by check
mailed to the address of the Holder that surrenders this Certificate as such
address last appears in the Certificate Register or to any such other address of
which the Paying Agent is subsequently notified in writing.

               The Certificates are limited in right of distribution to certain
collections and recoveries respecting the Mortgage Loans and REO Loans, all as
more specifically set forth herein and in the Agreement. As provided in the
Agreement, withdrawals from the Certificate Account, the Distribution Account
and, if established, the REO Account may be made from time to time for purposes
other than, and, in certain cases, prior to, distributions to
Certificateholders, such purposes including the reimbursement of Advances made,
or certain expenses incurred, with respect to the Mortgage Loans and the payment
of interest on such Advances and expenses.

               Interest accrued on this Certificate during an Interest Accrual
Period, plus any unpaid interest shortfall with respect to this Certificate for
any prior Distribution Date, if any, will be payable on the related Distribution
Date to the extent provided in the Agreement. The "Interest Accrual Period" with
respect to any Distribution Date and with respect to the Class N Certificates is
the calendar month preceding the month in which such Distribution Date occurs
and is assumed to consist of 30 days.

               Any distribution to the Holder of this Certificate in reduction
of the Certificate Principal Balance hereof is binding on such Holder and all
future Holders of this Certificate and any Certificate issued upon the transfer
hereof or in exchange herefor or in lieu hereof whether or not notation of such
distribution is made upon this Certificate.

               The Class N Certificates are issuable in fully registered form
only without coupons in minimum denominations specified in the Agreement. As
provided in the Agreement and subject to certain limitations therein set forth,
the Class N Certificates are exchangeable for new Class N Certificates in
authorized denominations evidencing the same aggregate Percentage Interest, as
requested by the Holder surrendering the same.

               As provided in the Agreement and subject to certain limitations
therein set forth, the transfer of this Certificate is registrable in the
Certificate Register upon surrender of this Certificate for registration of
transfer at the offices of the Certificate Registrar, duly endorsed by, or
accompanied by a written instrument of transfer in the form satisfactory to the
Certificate Registrar duly executed by, the Holder hereof or his attorney duly
authorized in writing, and thereupon one or more new Class N Certificates in
authorized denominations evidencing the same aggregate Percentage Interest will
be issued to the designated transferee or transferees.

               No transfer of any Class N Certificate shall be made unless that
transfer is made pursuant to an effective registration statement under the
Securities Act, and effective registration or qualification under applicable
state securities laws, or is made in a transaction which does not require such
registration or qualification. If such a transfer is to be made without
registration under the Securities Act (other than in connection with the initial
issuance thereof or the initial transfer thereof by the Depositor, the Initial
Purchaser or their respective affiliates), then the Certificate Registrar shall
refuse to register such transfer unless it receives either: (i) a certificate
from the Certificateholder desiring to effect such transfer substantially in the
form attached as Exhibit F-1 to the Agreement, and a certificate from such
Certificateholder's prospective transferee substantially in the form attached as
either Exhibit F-2, Exhibit F-3, Exhibit F-4, Exhibit F-5 or Exhibit F-6 to the
Agreement; or (ii) an Opinion of Counsel reasonably satisfactory to the
Certificate Registrar to the effect that such transfer may be made without
registration under the Securities Act (which Opinion of Counsel shall not be an
expense of the Trust Fund or of the Depositor, the Master Servicer, the Special
Servicer, the Trustee, the Paying Agent or the Certificate Registrar in their
respective capacities as such), together with the written certification(s) as to
the facts surrounding such transfer from the Certificateholder desiring to
effect such transfer and/or such Certificateholder's prospective transferee on
which such Opinion of Counsel is based. None of the Depositor, the Trustee,
Paying Agent or the Certificate Registrar is obligated to register or qualify
the Class N Certificates under the Securities Act or any other securities law or
to take any action not otherwise required under the Agreement to permit the
transfer of any Class N Certificate without registration or qualification. Any
Class N Certificateholder desiring to effect such a transfer shall, and by the
acceptance of its Class N Certificate agrees to, indemnify the Trustee, the
Certificate Registrar, the Paying Agent and the Depositor against any liability
that may result if the transfer is not so exempt or is not made in accordance
with such federal and state laws.

               No service charge will be imposed for any registration of
transfer or exchange of Class N Certificates, but the Certificate Registrar may
require payment of a sum sufficient to cover any tax or other governmental
charge that may be imposed in connection with any transfer or exchange of Class
N Certificates.

               Notwithstanding the foregoing, for so long as this Certificate is
registered in the name of Cede & Co. or in such other name as is requested by an
authorized representative of DTC, transfers of interests in this Certificate
shall be made through the book-entry facilities of DTC.

               The Depositor, the Master Servicer, the Special Servicer, the
Trustee, the Paying Agent and the Certificate Registrar and any agent of the
Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying
Agent or the Certificate Registrar may treat the Person in whose name this
Certificate is registered as the owner hereof for all purposes whatsoever and
none of the Depositor, the Master Servicer, the Special Servicer, the Trustee,
the Paying Agent, the Certificate Registrar, or any such agent shall be affected
by notice to the contrary.

               The Trust Fund and the obligations created by the Agreement shall
terminate upon distribution (or provision for distribution) to the
Certificateholders of all amounts held by or on behalf of the Trustee and
required to be distributed to them pursuant to the Agreement following the
earlier to occur of (i) the final payment (or any advance with respect thereto)
or other liquidation of the last Mortgage Loan or REO Property remaining in the
Trust Fund, and (ii) the purchase by the Master Servicer, the Special Servicer
or the Majority Subordinate Certificateholder at a price determined as provided
in the Agreement of all Mortgage Loans and each REO Property remaining in the
Trust Fund. The Agreement permits, but does not require, the Master Servicer,
the Special Servicer or the Majority Subordinate Certificateholder to purchase
from the Trust Fund all Mortgage Loans and each REO Property remaining therein.
The exercise of such right will effect early retirement of the Class N
Certificates; however, such right to purchase is subject to the aggregate Stated
Principal Balance of the Mortgage Pool at the time of purchase being less than
1% of the aggregate Stated Principal Balance of the Mortgage Loans as of the
Cut-Off Date specified on the face hereof.

               In addition, any exchange by any Certificateholder of all of the
then outstanding Certificates (other than the Class Z, Class R-I and Class R-II
Certificates) for all of the Mortgage Loans and each REO Property remaining in
the Trust Fund may be made: (i) if the then outstanding Certificates (other than
the Class Z, Class R-I and Class R-II Certificates) are held by a single
Certificateholder and (ii) the Class A-1, Class A-2, Class A-3, Class A-PB,
Class A-4, Class A-1A, Class A-M, Class A-J, Class B, Class C, Class D and Class
E Certificates have been paid in full.

               The Agreement permits, with certain exceptions therein provided,
the amendment thereof and the modification of the rights and obligations of the
Depositor, the Master Servicer, the Special Servicer and the Trustee and the
rights of the Certificateholders under the Agreement at any time by the
Depositor, the Master Servicer, the Special Servicer and the Trustee with the
consent of the Holders of Certificates entitled to at least 51% of the Voting
Rights allocated to the affected Classes. Any such consent by the Holder of this
Certificate shall be conclusive and binding on such Holder and upon all future
Holders of this Certificate and of any Certificate issued upon the transfer
hereof or in exchange herefor or in lieu hereof whether or not notation of such
consent is made upon this Certificate. The Agreement also permits the amendment
thereof, in certain limited circumstances, including any amendment necessary to
maintain the status of the Trust Fund (or designated portions thereof) as
consisting of two separate REMICs and one grantor trust, without the consent of
the Holders of any of the Certificates.

               Unless the certificate of authentication hereon has been executed
by the Certificate Registrar, by manual signature, this Certificate shall not be
entitled to any benefit under the Agreement or be valid for any purpose.

               The registered Holder hereof, by its acceptance hereof, agrees
that it will look solely to the Trust Fund (to the extent of its rights therein)
for distributions hereunder.

               This Certificate shall be construed in accordance with the
internal laws of the State of New York applicable to agreements made and to be
performed in said State, and the obligations, rights and remedies of the Holder
hereof shall be determined in accordance with such laws.

<PAGE>

               IN WITNESS WHEREOF, the Certificate Registrar has caused this
Certificate to be duly executed.

Dated: December 21, 2006

                                          WELLS FARGO BANK, N.A., as Certificate
                                              Registrar

                                          By: __________________________________
                                              Authorized Representative

                          CERTIFICATE OF AUTHENTICATION

               This is one of the Class N Certificates referred to in the
within-mentioned Agreement.

                                          WELLS FARGO BANK, N.A., as
                                              Authenticating Agent

                                          By: __________________________________
                                              Authorized Representative

<PAGE>

                                   ASSIGNMENT

               FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and
transfer(s) unto ________________________________________________________
(please print or typewrite name and address including postal zip code of
assignee) the beneficial ownership interest in the Trust Fund evidenced by the
within Commercial Mortgage Pass-Through Certificate and hereby authorize(s) the
registration of transfer of such interest to assignee on the Certificate
Register of the Trust Fund.

               I (we) further direct the Certificate Registrar to issue a new
Commercial Mortgage Pass-Through Certificate of a like Percentage Interest and
Class to the above named assignee and deliver such Commercial Mortgage
Pass-Through Certificate to the following address:
_________________________________________________________________________.

Dated: _________________________

                                          ______________________________________
                                           Signature by or on behalf of Assignor

                                          ______________________________________
                                                  Signature Guaranteed

<PAGE>

                            DISTRIBUTION INSTRUCTIONS

               The Assignee should include the following for purposes of
distribution:

               Distributions shall, if permitted, be made by wire transfer or
otherwise, in immediately available funds, to _____________________________ for
the account of _______________.

               Distributions made by check (such check to be made payable to
_____________________) and all applicable statements and notices should be
mailed to _____________________________.

               This information is provided by ________________________________,
the Assignee named above, or ____________________________________, as its agent.

<PAGE>

                                 EXHIBIT A-21-2

                           FORM OF CLASS N CERTIFICATE

              CLASS N COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATE,
                                 SERIES 2006-C29

evidencing a beneficial ownership interest in a trust fund (the "Trust Fund")
consisting primarily of a pool of multifamily and commercial mortgage loans (the
"Mortgage Loans"), such pool being formed and sold by

                     WACHOVIA BANK COMMERCIAL MORTGAGE TRUST

Pass-Through Rate: Variable                  Class Principal Balance of the
                                             Class N Certificates as of the
                                             Closing Date: $4,214,000

Date of Pooling and Servicing Agreement:     Initial Certificate Principal
as of December 1, 2006                       Balance of this Class N Certificate
                                             as of the Closing Date: $0

Closing Date: December 21, 2006              Aggregate Stated Principal Balance
                                             of the Mortgage Loans as of the
                                             Cut-Off Date: $3,371,274,173

First Distribution Date: January 18, 2007

Master Servicer: Wachovia Bank, National     Trustee: Wells Fargo Bank, N.A.
Association

Special Servicer: LNR Partners, Inc.

Certificate No. N-2                          CUSIP No. [_]

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST CORPORATION, A NEW YORK CORPORATION ("DTC"), TO THE DEPOSITOR,
THE MASTER SERVICER, THE TRUSTEE, THE CERTIFICATE REGISTRAR OR ANY AGENT THEREOF
FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED
IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO
SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY
TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON
IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
HEREIN.

THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN WACHOVIA
COMMERCIAL MORTGAGE SECURITIES, INC., WELLS FARGO BANK, N.A., LNR PARTNERS,
INC., WACHOVIA BANK, NATIONAL ASSOCIATION OR ANY OF THEIR RESPECTIVE AFFILIATES.
NEITHER THIS CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS ARE GUARANTEED BY ANY
AGENCY OR INSTRUMENTALITY OF THE UNITED STATES OR ANY OTHER PERSON.

THIS CERTIFICATE HAS NOT BEEN REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT
OF 1933 (THE "SECURITIES ACT") OR THE SECURITIES LAWS OF ANY STATE. ANY RESALE,
TRANSFER OR OTHER DISPOSITION OF THIS CERTIFICATE WITHOUT SUCH REGISTRATION OR
QUALIFICATION MAY BE MADE ONLY IN A TRANSACTION WHICH DOES NOT REQUIRE SUCH
REGISTRATION OR QUALIFICATION AND IN ACCORDANCE WITH THE PROVISIONS OF SECTION
5.02 OF THE AGREEMENT REFERRED TO HEREIN.

SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE IS A "REGULAR
INTEREST" IN A "REAL ESTATE MORTGAGE INVESTMENT CONDUIT" (A "REMIC") AS THOSE
TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL
REVENUE CODE OF 1986 (THE "CODE").

THIS CERTIFICATE IS SUBORDINATE TO THE CLASS A-1 CERTIFICATES, THE CLASS A-2
CERTIFICATES, THE CLASS A-3 CERTIFICATES, THE CLASS A-PB CERTIFICATES, THE CLASS
A-4 CERTIFICATES, THE CLASS A-1A CERTIFICATES, THE CLASS A-M CERTIFICATES, THE
CLASS A-J CERTIFICATES, THE CLASS B CERTIFICATES, THE CLASS C CERTIFICATES, THE
CLASS D CERTIFICATES, THE CLASS E CERTIFICATES, THE CLASS F CERTIFICATES, THE
CLASS G CERTIFICATES, THE CLASS H CERTIFICATES, THE CLASS J CERTIFICATES, THE
CLASS K CERTIFICATES, THE CLASS L CERTIFICATES AND THE CLASS M CERTIFICATES OF
THE SAME SERIES TO THE EXTENT DESCRIBED IN THE AGREEMENT REFERRED TO HEREIN.

NO TRANSFER OF THIS CERTIFICATE OR ANY INTEREST THEREIN SHALL BE MADE TO ANY
"EMPLOYEE BENEFIT PLAN" SUBJECT TO TITLE I OF ERISA OR A "PLAN" DESCRIBED BY
SECTION 4975(E)(1) OF THE CODE OR ANY OTHER RETIREMENT PLAN OR OTHER EMPLOYEE
BENEFIT PLAN OR ARRANGEMENT SUBJECT TO ANY FEDERAL, STATE OR LOCAL LAW
MATERIALLY SIMILAR TO THE FOREGOING PROVISIONS OF ERISA AND THE CODE, OR ANY
ENTITY DEEMED TO HOLD PLAN ASSETS OF THE FOREGOING BY REASON OF A PLAN'S
INVESTMENT IN SUCH ENTITY (EACH, A "PLAN") UNLESS IT IS AN INSURANCE COMPANY
GENERAL ACCOUNT WHICH IS ELIGIBLE FOR, AND SATISFIES ALL OF THE REQUIREMENTS
FOR, EXEMPTIVE RELIEF UNDER SECTIONS I AND III OF DEPARTMENT OF LABOR PROHIBITED
TRANSACTION CLASS EXEMPTION 95-60. EACH PERSON WHO ACQUIRES THIS CERTIFICATE
SHALL BE REQUIRED (OR, IN THE CASE OF A BOOK-ENTRY CERTIFICATE, DEEMED) TO HAVE
CERTIFIED THAT THE FOREGOING CONDITIONS ARE SATISFIED, AND THAT IT WILL NOT
TRANSFER THIS CERTIFICATE IN VIOLATION OF THE FOREGOING.

IF THE AGGREGATE CERTIFICATE PRINCIPAL BALANCE OF THE CLASS A-1 CERTIFICATES,
THE CLASS A-2 CERTIFICATES, THE CLASS A-3 CERTIFICATES, THE CLASS A-PB
CERTIFICATES, THE CLASS A-4 CERTIFICATES, THE CLASS A-1A CERTIFICATES, THE CLASS
A-M CERTIFICATES, THE CLASS A-J CERTIFICATES, THE CLASS B CERTIFICATES, THE
CLASS C CERTIFICATES, THE CLASS D CERTIFICATES, THE CLASS E CERTIFICATES, THE
CLASS F CERTIFICATES, THE CLASS G CERTIFICATES, THE CLASS H CERTIFICATES, THE
CLASS J CERTIFICATES, THE CLASS K CERTIFICATES, THE CLASS L CERTIFICATES AND THE
CLASS M CERTIFICATES OF THE SAME SERIES IS REDUCED TO ZERO, DISTRIBUTIONS IN
REDUCTION OF THE CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE MAY BE MADE
MONTHLY AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.
IN ADDITION, IF THE AGGREGATE CERTIFICATE PRINCIPAL BALANCE OF THE CLASS O,
CLASS P AND CLASS Q CERTIFICATES OF THE SAME SERIES IS REDUCED TO ZERO, THE
CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE MAY BE REDUCED BY CERTAIN
LOSSES AND EXPENSES EXPERIENCED BY THE TRUST FUND AS SET FORTH IN THE AGREEMENT
REFERRED TO HEREIN. ACCORDINGLY, THE OUTSTANDING CERTIFICATE PRINCIPAL BALANCE
HEREOF AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ABOVE.

               This certifies that Cede & Co. is the registered owner of the
Percentage Interest evidenced by this Class N Certificate (obtained by dividing
the principal amount of this Class N Certificate (its "Certificate Principal
Balance") as of the Closing Date by the aggregate principal amount of all the
Class N Certificates (their "Class Principal Balance") as of the Closing Date)
in that certain beneficial ownership interest evidenced by all the Class N
Certificates in the Trust Fund created pursuant to a Pooling and Servicing
Agreement, dated as specified above (the "Agreement"), among Wachovia Commercial
Mortgage Securities, Inc. (herein called the "Depositor", which term includes
any successor entity under the Agreement), Wachovia Bank, National Association
(herein called the "Master Servicer", which term includes any successor entity
under the Agreement), LNR Partners, Inc. (herein called the "Special Servicer",
which term includes any successor entity under the Agreement) and Wells Fargo
Bank, N.A. (herein called the "Trustee", which term includes any successor
entity under the Agreement), a summary of certain of the pertinent provisions of
which is set forth hereafter. To the extent not defined herein, the capitalized
terms used herein have the respective meanings assigned in the Agreement. This
Certificate is issued under and is subject to the terms, provisions and
conditions of the Agreement, to which Agreement the Holder of this Certificate
by virtue of the acceptance hereof assents and by which such Holder is bound.

               Pursuant to the terms of the Agreement, distributions will be
made on the fourth Business Day following the related Determination Date (each,
a "Distribution Date"). The Determination Date is the 11th day of each month or,
if such 11th day is not a Business Day, the Business Day immediately succeeding,
commencing in January 2007 (each, a "Determination Date"). Distributions will be
made commencing on the first Distribution Date specified above, to the Person in
whose name this Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such distribution
(the "Record Date"), in an amount equal to the product of the Percentage
Interest evidenced by this Certificate and the amount required to be distributed
to the Holders of the Class N Certificates on the applicable Distribution Date
pursuant to the Agreement. All distributions made under the Agreement on the
Class N Certificates will be made by Wells Fargo Bank, N.A., as paying agent
(the "Paying Agent"), by wire transfer of immediately available funds to the
account of the Person entitled thereto at a bank or other entity having
appropriate facilities therefor, if such Certificateholder shall have provided
the Paying Agent with wiring instructions no less than five Business Days prior
to the related Record Date (which wiring instructions may be in the form of a
standing order applicable to all subsequent distributions), or otherwise by
check mailed to the address of such Certificateholder as it appears in the
Certificate Register. Notwithstanding the foregoing, the final distribution on
this Certificate (determined without regard to any possible future reimbursement
of any Realized Loss or Additional Trust Fund Expense previously allocated to
this Certificate) will be made in like manner, but only upon presentation and
surrender of this Certificate at the offices of the Certificate Registrar or
such other location specified in the notice to the Holder hereof of such final
distribution. Also notwithstanding the foregoing, any distribution that may be
made with respect to this Certificate in reimbursement of any Realized Loss or
Additional Trust Fund Expense previously allocated to this Certificate, which
reimbursement is to occur after the date on which this Certificate is
surrendered as contemplated by the preceding sentence, will be made by check
mailed to the address of the Holder that surrenders this Certificate as such
address last appears in the Certificate Register or to any such other address of
which the Paying Agent is subsequently notified in writing.

               The Certificates are limited in right of distribution to certain
collections and recoveries respecting the Mortgage Loans and REO Loans, all as
more specifically set forth herein and in the Agreement. As provided in the
Agreement, withdrawals from the Certificate Account, the Distribution Account
and, if established, the REO Account may be made from time to time for purposes
other than, and, in certain cases, prior to, distributions to
Certificateholders, such purposes including the reimbursement of Advances made,
or certain expenses incurred, with respect to the Mortgage Loans and the payment
of interest on such Advances and expenses.

               Interest accrued on this Certificate during an Interest Accrual
Period, plus any unpaid interest shortfall with respect to this Certificate for
any prior Distribution Date, if any, will be payable on the related Distribution
Date to the extent provided in the Agreement. The "Interest Accrual Period" with
respect to any Distribution Date and with respect to the Class N Certificates is
the calendar month preceding the month in which such Distribution Date occurs
and is assumed to consist of 30 days.

               Any distribution to the Holder of this Certificate in reduction
of the Certificate Principal Balance hereof is binding on such Holder and all
future Holders of this Certificate and any Certificate issued upon the transfer
hereof or in exchange herefor or in lieu hereof whether or not notation of such
distribution is made upon this Certificate.

               The Class N Certificates are issuable in fully registered form
only without coupons in minimum denominations specified in the Agreement. As
provided in the Agreement and subject to certain limitations therein set forth,
the Class N Certificates are exchangeable for new Class N Certificates in
authorized denominations evidencing the same aggregate Percentage Interest, as
requested by the Holder surrendering the same.

               As provided in the Agreement and subject to certain limitations
therein set forth, the transfer of this Certificate is registrable in the
Certificate Register upon surrender of this Certificate for registration of
transfer at the offices of the Certificate Registrar, duly endorsed by, or
accompanied by a written instrument of transfer in the form satisfactory to the
Certificate Registrar duly executed by, the Holder hereof or his attorney duly
authorized in writing, and thereupon one or more new Class N Certificates in
authorized denominations evidencing the same aggregate Percentage Interest will
be issued to the designated transferee or transferees.

               No transfer of any Class N Certificate shall be made unless that
transfer is made pursuant to an effective registration statement under the
Securities Act, and effective registration or qualification under applicable
state securities laws, or is made in a transaction which does not require such
registration or qualification. If such a transfer is to be made without
registration under the Securities Act (other than in connection with the initial
issuance thereof or the initial transfer thereof by the Depositor, the Initial
Purchaser or their respective affiliates), then the Certificate Registrar shall
refuse to register such transfer unless it receives either: (i) a certificate
from the Certificateholder desiring to effect such transfer substantially in the
form attached as Exhibit F-1 to the Agreement, and a certificate from such
Certificateholder's prospective transferee substantially in the form attached as
either Exhibit F-2, Exhibit F-3, Exhibit F-4, Exhibit F-5 or Exhibit F-6 to the
Agreement; or (ii) an Opinion of Counsel reasonably satisfactory to the
Certificate Registrar to the effect that such transfer may be made without
registration under the Securities Act (which Opinion of Counsel shall not be an
expense of the Trust Fund or of the Depositor, the Master Servicer, the Special
Servicer, the Trustee, the Paying Agent or the Certificate Registrar in their
respective capacities as such), together with the written certification(s) as to
the facts surrounding such transfer from the Certificateholder desiring to
effect such transfer and/or such Certificateholder's prospective transferee on
which such Opinion of Counsel is based. None of the Depositor, the Trustee,
Paying Agent or the Certificate Registrar is obligated to register or qualify
the Class N Certificates under the Securities Act or any other securities law or
to take any action not otherwise required under the Agreement to permit the
transfer of any Class N Certificate without registration or qualification. Any
Class N Certificateholder desiring to effect such a transfer shall, and by the
acceptance of its Class N Certificate agrees to, indemnify the Trustee, the
Certificate Registrar, the Paying Agent and the Depositor against any liability
that may result if the transfer is not so exempt or is not made in accordance
with such federal and state laws.

               No service charge will be imposed for any registration of
transfer or exchange of Class N Certificates, but the Certificate Registrar may
require payment of a sum sufficient to cover any tax or other governmental
charge that may be imposed in connection with any transfer or exchange of Class
N Certificates.

               Notwithstanding the foregoing, for so long as this Certificate is
registered in the name of Cede & Co. or in such other name as is requested by an
authorized representative of DTC, transfers of interests in this Certificate
shall be made through the book-entry facilities of DTC.

               The Depositor, the Master Servicer, the Special Servicer, the
Trustee, the Paying Agent and the Certificate Registrar and any agent of the
Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying
Agent or the Certificate Registrar may treat the Person in whose name this
Certificate is registered as the owner hereof for all purposes whatsoever and
none of the Depositor, the Master Servicer, the Special Servicer, the Trustee,
the Paying Agent, the Certificate Registrar, or any such agent shall be affected
by notice to the contrary.

               The Trust Fund and the obligations created by the Agreement shall
terminate upon distribution (or provision for distribution) to the
Certificateholders of all amounts held by or on behalf of the Trustee and
required to be distributed to them pursuant to the Agreement following the
earlier to occur of (i) the final payment (or any advance with respect thereto)
or other liquidation of the last Mortgage Loan or REO Property remaining in the
Trust Fund, and (ii) the purchase by the Master Servicer, the Special Servicer
or the Majority Subordinate Certificateholder at a price determined as provided
in the Agreement of all Mortgage Loans and each REO Property remaining in the
Trust Fund. The Agreement permits, but does not require, the Master Servicer,
the Special Servicer or the Majority Subordinate Certificateholder to purchase
from the Trust Fund all Mortgage Loans and each REO Property remaining therein.
The exercise of such right will effect early retirement of the Class N
Certificates; however, such right to purchase is subject to the aggregate Stated
Principal Balance of the Mortgage Pool at the time of purchase being less than
1% of the aggregate Stated Principal Balance of the Mortgage Loans as of the
Cut-Off Date specified on the face hereof.

               In addition, any exchange by any Certificateholder of all of the
then outstanding Certificates (other than the Class Z, Class R-I and Class R-II
Certificates) for all of the Mortgage Loans and each REO Property remaining in
the Trust Fund may be made: (i) if the then outstanding Certificates (other than
the Class Z, Class R-I and Class R-II Certificates) are held by a single
Certificateholder and (ii) the Class A-1, Class A-2, Class A-3, Class A-PB,
Class A-4, Class A-1A, Class A-M, Class A-J, Class B, Class C, Class D and Class
E Certificates have been paid in full.

               The Agreement permits, with certain exceptions therein provided,
the amendment thereof and the modification of the rights and obligations of the
Depositor, the Master Servicer, the Special Servicer and the Trustee and the
rights of the Certificateholders under the Agreement at any time by the
Depositor, the Master Servicer, the Special Servicer and the Trustee with the
consent of the Holders of Certificates entitled to at least 51% of the Voting
Rights allocated to the affected Classes. Any such consent by the Holder of this
Certificate shall be conclusive and binding on such Holder and upon all future
Holders of this Certificate and of any Certificate issued upon the transfer
hereof or in exchange herefor or in lieu hereof whether or not notation of such
consent is made upon this Certificate. The Agreement also permits the amendment
thereof, in certain limited circumstances, including any amendment necessary to
maintain the status of the Trust Fund (or designated portions thereof) as
consisting of two separate REMICs and one grantor trust, without the consent of
the Holders of any of the Certificates.

               Unless the certificate of authentication hereon has been executed
by the Certificate Registrar, by manual signature, this Certificate shall not be
entitled to any benefit under the Agreement or be valid for any purpose.

               The registered Holder hereof, by its acceptance hereof, agrees
that it will look solely to the Trust Fund (to the extent of its rights therein)
for distributions hereunder.

               This Certificate shall be construed in accordance with the
internal laws of the State of New York applicable to agreements made and to be
performed in said State, and the obligations, rights and remedies of the Holder
hereof shall be determined in accordance with such laws.

<PAGE>

               IN WITNESS WHEREOF, the Certificate Registrar has caused this
Certificate to be duly executed.

Dated: December 21, 2006

                                          WELLS FARGO BANK, N.A., as Certificate
                                              Registrar

                                          By: __________________________________
                                              Authorized Representative

                          CERTIFICATE OF AUTHENTICATION

               This is one of the Class N Certificates referred to in the
within-mentioned Agreement.

                                          WELLS FARGO BANK, N.A., as
                                              Authenticating Agent

                                          By: __________________________________
                                              Authorized Representative

<PAGE>

                                   ASSIGNMENT

               FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and
transfer(s) unto ________________________________________________________
(please print or typewrite name and address including postal zip code of
assignee) the beneficial ownership interest in the Trust Fund evidenced by the
within Commercial Mortgage Pass-Through Certificate and hereby authorize(s) the
registration of transfer of such interest to assignee on the Certificate
Register of the Trust Fund.

               I (we) further direct the Certificate Registrar to issue a new
Commercial Mortgage Pass-Through Certificate of a like Percentage Interest and
Class to the above named assignee and deliver such Commercial Mortgage
Pass-Through Certificate to the following address:
_________________________________________________________________________.

Dated: _________________________

                                          ______________________________________
                                           Signature by or on behalf of Assignor

                                          ______________________________________
                                                  Signature Guaranteed

<PAGE>

                            DISTRIBUTION INSTRUCTIONS

               The Assignee should include the following for purposes of
distribution:

               Distributions shall, if permitted, be made by wire transfer or
otherwise, in immediately available funds, to _____________________________ for
the account of _______________.

               Distributions made by check (such check to be made payable to
_____________________) and all applicable statements and notices should be
mailed to _____________________________.

               This information is provided by ________________________________,
the Assignee named above, or ____________________________________, as its agent.

<PAGE>

                                 EXHIBIT A-22-1

                           FORM OF CLASS O CERTIFICATE

              CLASS O COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATE,
                                 SERIES 2006-C29

evidencing a beneficial ownership interest in a trust fund (the "Trust Fund")
consisting primarily of a pool of multifamily and commercial mortgage loans (the
"Mortgage Loans"), such pool being formed and sold by

                     WACHOVIA BANK COMMERCIAL MORTGAGE TRUST

Pass-Through Rate: Variable                  Class Principal Balance of the
                                             Class O Certificates as of the
                                             Closing Date: $8,429,000

Date of Pooling and Servicing Agreement:     Initial Certificate Principal
as of December 1, 2006                       Balance of this Class O Certificate
                                             as of the Closing Date: $8,429,000

Closing Date: December 21, 2006              Aggregate Stated Principal Balance
                                             of the Mortgage Loans as of the
                                             Cut-Off Date: $3,371,274,173

First Distribution Date: January 18, 2007

Master Servicer: Wachovia Bank, National     Trustee: Wells Fargo Bank, N.A.
Association

Special Servicer: LNR Partners, Inc.

Certificate No. O-1                          CUSIP No. [_]

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST CORPORATION, A NEW YORK CORPORATION ("DTC"), TO THE DEPOSITOR,
THE MASTER SERVICER, THE TRUSTEE, THE CERTIFICATE REGISTRAR OR ANY AGENT THEREOF
FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED
IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO
SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY
TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON
IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
HEREIN.

THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN WACHOVIA
COMMERCIAL MORTGAGE SECURITIES, INC., WELLS FARGO BANK, N.A., LNR PARTNERS,
INC., WACHOVIA BANK, NATIONAL ASSOCIATION OR ANY OF THEIR RESPECTIVE AFFILIATES.
NEITHER THIS CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS ARE GUARANTEED BY ANY
AGENCY OR INSTRUMENTALITY OF THE UNITED STATES OR ANY OTHER PERSON.

THIS CERTIFICATE HAS NOT BEEN REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT
OF 1933 (THE "SECURITIES ACT") OR THE SECURITIES LAWS OF ANY STATE. ANY RESALE,
TRANSFER OR OTHER DISPOSITION OF THIS CERTIFICATE WITHOUT SUCH REGISTRATION OR
QUALIFICATION MAY BE MADE ONLY IN A TRANSACTION WHICH DOES NOT REQUIRE SUCH
REGISTRATION OR QUALIFICATION AND IN ACCORDANCE WITH THE PROVISIONS OF SECTION
5.02 OF THE AGREEMENT REFERRED TO HEREIN.

SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE IS A "REGULAR
INTEREST" IN A "REAL ESTATE MORTGAGE INVESTMENT CONDUIT" (A "REMIC") AS THOSE
TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL
REVENUE CODE OF 1986 (THE "CODE").

THIS CERTIFICATE IS SUBORDINATE TO THE CLASS A-1 CERTIFICATES, THE CLASS A-2
CERTIFICATES, THE CLASS A-3 CERTIFICATES, THE CLASS A-PB CERTIFICATES, THE CLASS
A-4 CERTIFICATES, THE CLASS A-1A CERTIFICATES, THE CLASS A-M CERTIFICATES, THE
CLASS A-J CERTIFICATES, THE CLASS B CERTIFICATES, THE CLASS C CERTIFICATES, THE
CLASS D CERTIFICATES, THE CLASS E CERTIFICATES, THE CLASS F CERTIFICATES, THE
CLASS G CERTIFICATES, THE CLASS H CERTIFICATES, THE CLASS J CERTIFICATES, THE
CLASS K CERTIFICATES, THE CLASS L CERTIFICATES, THE CLASS M CERTIFICATES AND THE
CLASS N CERTIFICATES OF THE SAME SERIES TO THE EXTENT DESCRIBED IN THE AGREEMENT
REFERRED TO HEREIN.

NO TRANSFER OF THIS CERTIFICATE OR ANY INTEREST THEREIN SHALL BE MADE TO ANY
"EMPLOYEE BENEFIT PLAN" SUBJECT TO TITLE I OF ERISA OR A "PLAN" DESCRIBED BY
SECTION 4975(E)(1) OF THE CODE OR ANY OTHER RETIREMENT PLAN OR OTHER EMPLOYEE
BENEFIT PLAN OR ARRANGEMENT SUBJECT TO ANY FEDERAL, STATE OR LOCAL LAW
MATERIALLY SIMILAR TO THE FOREGOING PROVISIONS OF ERISA AND THE CODE, OR ANY
ENTITY DEEMED TO HOLD PLAN ASSETS OF THE FOREGOING BY REASON OF A PLAN'S
INVESTMENT IN SUCH ENTITY (EACH, A "PLAN") UNLESS IT IS AN INSURANCE COMPANY
GENERAL ACCOUNT WHICH IS ELIGIBLE FOR, AND SATISFIES ALL OF THE REQUIREMENTS
FOR, EXEMPTIVE RELIEF UNDER SECTIONS I AND III OF DEPARTMENT OF LABOR PROHIBITED
TRANSACTION CLASS EXEMPTION 95-60. EACH PERSON WHO ACQUIRES THIS CERTIFICATE
SHALL BE REQUIRED (OR, IN THE CASE OF A BOOK-ENTRY CERTIFICATE, DEEMED) TO HAVE
CERTIFIED THAT THE FOREGOING CONDITIONS ARE SATISFIED, AND THAT IT WILL NOT
TRANSFER THIS CERTIFICATE IN VIOLATION OF THE FOREGOING.

IF THE AGGREGATE CERTIFICATE PRINCIPAL BALANCE OF THE CLASS A-1 CERTIFICATES,
THE CLASS A-2 CERTIFICATES, THE CLASS A-3 CERTIFICATES, THE CLASS A-PB
CERTIFICATES, THE CLASS A-4 CERTIFICATES, THE CLASS A-1A CERTIFICATES, THE CLASS
A-M CERTIFICATES, THE CLASS A-J CERTIFICATES, THE CLASS B CERTIFICATES, THE
CLASS C CERTIFICATES, THE CLASS D CERTIFICATES, THE CLASS E CERTIFICATES, THE
CLASS F CERTIFICATES, THE CLASS G CERTIFICATES, THE CLASS H CERTIFICATES, THE
CLASS J CERTIFICATES, THE CLASS K CERTIFICATES, THE CLASS L CERTIFICATES, THE
CLASS M CERTIFICATES AND THE CLASS N CERTIFICATES OF THE SAME SERIES IS REDUCED
TO ZERO, DISTRIBUTIONS IN REDUCTION OF THE CERTIFICATE PRINCIPAL BALANCE OF THIS
CERTIFICATE MAY BE MADE MONTHLY AS SET FORTH IN THE POOLING AND SERVICING
AGREEMENT REFERRED TO HEREIN. IN ADDITION, IF THE AGGREGATE CERTIFICATE
PRINCIPAL BALANCE OF THE CLASS P AND CLASS Q CERTIFICATES OF THE SAME SERIES IS
REDUCED TO ZERO, THE CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE MAY BE
REDUCED BY CERTAIN LOSSES AND EXPENSES EXPERIENCED BY THE TRUST FUND AS SET
FORTH IN THE AGREEMENT REFERRED TO HEREIN. ACCORDINGLY, THE OUTSTANDING
CERTIFICATE PRINCIPAL BALANCE HEREOF AT ANY TIME MAY BE LESS THAN THE AMOUNT
SHOWN ABOVE.

               This certifies that Cede & Co. is the registered owner of the
Percentage Interest evidenced by this Class O Certificate (obtained by dividing
the principal amount of this Class O Certificate (its "Certificate Principal
Balance") as of the Closing Date by the aggregate principal amount of all the
Class O Certificates (their "Class Principal Balance") as of the Closing Date)
in that certain beneficial ownership interest evidenced by all the Class O
Certificates in the Trust Fund created pursuant to a Pooling and Servicing
Agreement, dated as specified above (the "Agreement"), among Wachovia Commercial
Mortgage Securities, Inc. (herein called the "Depositor", which term includes
any successor entity under the Agreement), Wachovia Bank, National Association
(herein called the "Master Servicer", which term includes any successor entity
under the Agreement), LNR Partners, Inc. (herein called the "Special Servicer",
which term includes any successor entity under the Agreement) and Wells Fargo
Bank, N.A. (herein called the "Trustee", which term includes any successor
entity under the Agreement), a summary of certain of the pertinent provisions of
which is set forth hereafter. To the extent not defined herein, the capitalized
terms used herein have the respective meanings assigned in the Agreement. This
Certificate is issued under and is subject to the terms, provisions and
conditions of the Agreement, to which Agreement the Holder of this Certificate
by virtue of the acceptance hereof assents and by which such Holder is bound.

               Pursuant to the terms of the Agreement, distributions will be
made on the fourth Business Day following the related Determination Date (each,
a "Distribution Date"). The Determination Date is the 11th day of each month or,
if such 11th day is not a Business Day, the Business Day immediately succeeding,
commencing in January 2007 (each, a "Determination Date"). Distributions will be
made commencing on the first Distribution Date specified above, to the Person in
whose name this Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such distribution
(the "Record Date"), in an amount equal to the product of the Percentage
Interest evidenced by this Certificate and the amount required to be distributed
to the Holders of the Class O Certificates on the applicable Distribution Date
pursuant to the Agreement. All distributions made under the Agreement on the
Class O Certificates will be made by Wells Fargo Bank, N.A., as paying agent
(the "Paying Agent"), by wire transfer of immediately available funds to the
account of the Person entitled thereto at a bank or other entity having
appropriate facilities therefor, if such Certificateholder shall have provided
the Paying Agent with wiring instructions no less than five Business Days prior
to the related Record Date (which wiring instructions may be in the form of a
standing order applicable to all subsequent distributions), or otherwise by
check mailed to the address of such Certificateholder as it appears in the
Certificate Register. Notwithstanding the foregoing, the final distribution on
this Certificate (determined without regard to any possible future reimbursement
of any Realized Loss or Additional Trust Fund Expense previously allocated to
this Certificate) will be made in like manner, but only upon presentation and
surrender of this Certificate at the offices of the Certificate Registrar or
such other location specified in the notice to the Holder hereof of such final
distribution. Also notwithstanding the foregoing, any distribution that may be
made with respect to this Certificate in reimbursement of any Realized Loss or
Additional Trust Fund Expense previously allocated to this Certificate, which
reimbursement is to occur after the date on which this Certificate is
surrendered as contemplated by the preceding sentence, will be made by check
mailed to the address of the Holder that surrenders this Certificate as such
address last appears in the Certificate Register or to any such other address of
which the Paying Agent is subsequently notified in writing.

               The Certificates are limited in right of distribution to certain
collections and recoveries respecting the Mortgage Loans and REO Loans, all as
more specifically set forth herein and in the Agreement. As provided in the
Agreement, withdrawals from the Certificate Account, the Distribution Account
and, if established, the REO Account may be made from time to time for purposes
other than, and, in certain cases, prior to, distributions to
Certificateholders, such purposes including the reimbursement of Advances made,
or certain expenses incurred, with respect to the Mortgage Loans and the payment
of interest on such Advances and expenses.

               Interest accrued on this Certificate during an Interest Accrual
Period, plus any unpaid interest shortfall with respect to this Certificate for
any prior Distribution Date, if any, will be payable on the related Distribution
Date to the extent provided in the Agreement. The "Interest Accrual Period" with
respect to any Distribution Date and with respect to the Class O Certificates is
the calendar month preceding the month in which such Distribution Date occurs
and is assumed to consist of 30 days.

               Any distribution to the Holder of this Certificate in reduction
of the Certificate Principal Balance hereof is binding on such Holder and all
future Holders of this Certificate and any Certificate issued upon the transfer
hereof or in exchange herefor or in lieu hereof whether or not notation of such
distribution is made upon this Certificate.

               The Class O Certificates are issuable in fully registered form
only without coupons in minimum denominations specified in the Agreement. As
provided in the Agreement and subject to certain limitations therein set forth,
the Class O Certificates are exchangeable for new Class O Certificates in
authorized denominations evidencing the same aggregate Percentage Interest, as
requested by the Holder surrendering the same.

               As provided in the Agreement and subject to certain limitations
therein set forth, the transfer of this Certificate is registrable in the
Certificate Register upon surrender of this Certificate for registration of
transfer at the offices of the Certificate Registrar, duly endorsed by, or
accompanied by a written instrument of transfer in the form satisfactory to the
Certificate Registrar duly executed by, the Holder hereof or his attorney duly
authorized in writing, and thereupon one or more new Class O Certificates in
authorized denominations evidencing the same aggregate Percentage Interest will
be issued to the designated transferee or transferees.

               No transfer of any Class O Certificate shall be made unless that
transfer is made pursuant to an effective registration statement under the
Securities Act, and effective registration or qualification under applicable
state securities laws, or is made in a transaction which does not require such
registration or qualification. If such a transfer is to be made without
registration under the Securities Act (other than in connection with the initial
issuance thereof or the initial transfer thereof by the Depositor, the Initial
Purchaser or their respective affiliates), then the Certificate Registrar shall
refuse to register such transfer unless it receives either: (i) a certificate
from the Certificateholder desiring to effect such transfer substantially in the
form attached as Exhibit F-1 to the Agreement, and a certificate from such
Certificateholder's prospective transferee substantially in the form attached as
either Exhibit F-2, Exhibit F-3, Exhibit F-4, Exhibit F-5 or Exhibit F-6 to the
Agreement; or (ii) an Opinion of Counsel reasonably satisfactory to the
Certificate Registrar to the effect that such transfer may be made without
registration under the Securities Act (which Opinion of Counsel shall not be an
expense of the Trust Fund or of the Depositor, the Master Servicer, the Special
Servicer, the Trustee, the Paying Agent or the Certificate Registrar in their
respective capacities as such), together with the written certification(s) as to
the facts surrounding such transfer from the Certificateholder desiring to
effect such transfer and/or such Certificateholder's prospective transferee on
which such Opinion of Counsel is based. None of the Depositor, the Trustee, the
Paying Agent or the Certificate Registrar is obligated to register or qualify
the Class O Certificates under the Securities Act or any other securities law or
to take any action not otherwise required under the Agreement to permit the
transfer of any Class O Certificate without registration or qualification. Any
Class O Certificateholder desiring to effect such a transfer shall, and by the
acceptance of its Class O Certificate agrees to, indemnify the Trustee, the
Certificate Registrar, the Paying Agent and the Depositor against any liability
that may result if the transfer is not so exempt or is not made in accordance
with such federal and state laws.

               No service charge will be imposed for any registration of
transfer or exchange of Class O Certificates, but the Certificate Registrar may
require payment of a sum sufficient to cover any tax or other governmental
charge that may be imposed in connection with any transfer or exchange of Class
O Certificates.

               Notwithstanding the foregoing, for so long as this Certificate is
registered in the name of Cede & Co. or in such other name as is requested by an
authorized representative of DTC, transfers of interests in this Certificate
shall be made through the book-entry facilities of DTC.

               The Depositor, the Master Servicer, the Special Servicer, the
Trustee, the Paying Agent and the Certificate Registrar and any agent of the
Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying
Agent or the Certificate Registrar may treat the Person in whose name this
Certificate is registered as the owner hereof for all purposes whatsoever and
none of the Depositor, the Master Servicer, the Special Servicer, the Trustee,
the Paying Agent, the Certificate Registrar, or any such agent shall be affected
by notice to the contrary.

               The Trust Fund and the obligations created by the Agreement shall
terminate upon distribution (or provision for distribution) to the
Certificateholders of all amounts held by or on behalf of the Trustee and
required to be distributed to them pursuant to the Agreement following the
earlier to occur of (i) the final payment (or any advance with respect thereto)
or other liquidation of the last Mortgage Loan or REO Property remaining in the
Trust Fund, and (ii) the purchase by the Master Servicer, the Special Servicer
or the Majority Subordinate Certificateholder at a price determined as provided
in the Agreement of all Mortgage Loans and each REO Property remaining in the
Trust Fund. The Agreement permits, but does not require, the Master Servicer,
the Special Servicer or the Majority Subordinate Certificateholder to purchase
from the Trust Fund all Mortgage Loans and each REO Property remaining therein.
The exercise of such right will effect early retirement of the Class O
Certificates; however, such right to purchase is subject to the aggregate Stated
Principal Balance of the Mortgage Pool at the time of purchase being less than
1% of the aggregate Stated Principal Balance of the Mortgage Loans as of the
Cut-Off Date specified on the face hereof.

               In addition, any exchange by any Certificateholder of all of the
then outstanding Certificates (other than the Class Z, Class R-I and Class R-II
Certificates) for all of the Mortgage Loans and each REO Property remaining in
the Trust Fund may be made: (i) if the then outstanding Certificates (other than
the Class Z, Class R-I and Class R-II Certificates) are held by a single
Certificateholder and (ii) the Class A-1, Class A-2, Class A-3, Class A-PB,
Class A-4, Class A-1A, Class A-M, Class A-J, Class B, Class C, Class D and Class
E Certificates have been paid in full.

               The Agreement permits, with certain exceptions therein provided,
the amendment thereof and the modification of the rights and obligations of the
Depositor, the Master Servicer, the Special Servicer and the Trustee and the
rights of the Certificateholders under the Agreement at any time by the
Depositor, the Master Servicer, the Special Servicer and the Trustee with the
consent of the Holders of Certificates entitled to at least 51% of the Voting
Rights allocated to the affected Classes. Any such consent by the Holder of this
Certificate shall be conclusive and binding on such Holder and upon all future
Holders of this Certificate and of any Certificate issued upon the transfer
hereof or in exchange herefor or in lieu hereof whether or not notation of such
consent is made upon this Certificate. The Agreement also permits the amendment
thereof, in certain limited circumstances, including any amendment necessary to
maintain the status of the Trust Fund (or designated portions thereof) as
consisting of two separate REMICs and one grantor trust, without the consent of
the Holders of any of the Certificates.

               Unless the certificate of authentication hereon has been executed
by the Certificate Registrar, by manual signature, this Certificate shall not be
entitled to any benefit under the Agreement or be valid for any purpose.

               The registered Holder hereof, by its acceptance hereof, agrees
that it will look solely to the Trust Fund (to the extent of its rights therein)
for distributions hereunder.

               This Certificate shall be construed in accordance with the
internal laws of the State of New York applicable to agreements made and to be
performed in said State, and the obligations, rights and remedies of the Holder
hereof shall be determined in accordance with such laws.

<PAGE>

               IN WITNESS WHEREOF, the Certificate Registrar has caused this
Certificate to be duly executed.

Dated: December 21, 2006

                                          WELLS FARGO BANK, N.A., as Certificate
                                              Registrar

                                          By: __________________________________
                                              Authorized Representative

                          CERTIFICATE OF AUTHENTICATION

               This is one of the Class O Certificates referred to in the
within-mentioned Agreement.

                                          WELLS FARGO BANK, N.A., as
                                              Authenticating Agent

                                          By: __________________________________
                                              Authorized Representative

<PAGE>

                                   ASSIGNMENT

               FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and
transfer(s) unto ________________________________________________________
(please print or typewrite name and address including postal zip code of
assignee) the beneficial ownership interest in the Trust Fund evidenced by the
within Commercial Mortgage Pass-Through Certificate and hereby authorize(s) the
registration of transfer of such interest to assignee on the Certificate
Register of the Trust Fund.

               I (we) further direct the Certificate Registrar to issue a new
Commercial Mortgage Pass-Through Certificate of a like Percentage Interest and
Class to the above named assignee and deliver such Commercial Mortgage
Pass-Through Certificate to the following address:
_________________________________________________________________________.

Dated: _________________________

                                          ______________________________________
                                           Signature by or on behalf of Assignor

                                          ______________________________________
                                                  Signature Guaranteed

<PAGE>

                            DISTRIBUTION INSTRUCTIONS

               The Assignee should include the following for purposes of
distribution:

               Distributions shall, if permitted, be made by wire transfer or
otherwise, in immediately available funds, to _____________________________ for
the account of _______________.

               Distributions made by check (such check to be made payable to
_____________________) and all applicable statements and notices should be
mailed to _____________________________.

               This information is provided by ________________________________,
the Assignee named above, or ____________________________________, as its agent.

<PAGE>

                                 EXHIBIT A-22-2

                           FORM OF CLASS O CERTIFICATE

              CLASS O COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATE,
                                 SERIES 2006-C29

evidencing a beneficial ownership interest in a trust fund (the "Trust Fund")
consisting primarily of a pool of multifamily and commercial mortgage loans (the
"Mortgage Loans"), such pool being formed and sold by

                     WACHOVIA BANK COMMERCIAL MORTGAGE TRUST

Pass-Through Rate: Variable                  Class Principal Balance of the
                                             Class O Certificates as of the
                                             Closing Date: $8,429,000

Date of Pooling and Servicing Agreement:     Initial Certificate Principal
as of December 1, 2006                       Balance of this Class O Certificate
                                             as of the Closing Date: $0

Closing Date: December 21, 2006              Aggregate Stated Principal Balance
                                             of the Mortgage Loans as of the
                                             Cut-Off Date: $3,371,274,173

First Distribution Date: January 18, 2007

Master Servicer: Wachovia Bank, National     Trustee: Wells Fargo Bank, N.A.
Association

Special Servicer: LNR Partners, Inc.

Certificate No. O-2                          CUSIP No. [_]

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST CORPORATION, A NEW YORK CORPORATION ("DTC"), TO THE DEPOSITOR,
THE MASTER SERVICER, THE TRUSTEE, THE CERTIFICATE REGISTRAR OR ANY AGENT THEREOF
FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED
IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO
SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY
TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON
IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
HEREIN.

THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN WACHOVIA
COMMERCIAL MORTGAGE SECURITIES, INC., WELLS FARGO BANK, N.A., LNR PARTNERS,
INC., WACHOVIA BANK, NATIONAL ASSOCIATION OR ANY OF THEIR RESPECTIVE AFFILIATES.
NEITHER THIS CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS ARE GUARANTEED BY ANY
AGENCY OR INSTRUMENTALITY OF THE UNITED STATES OR ANY OTHER PERSON.

THIS CERTIFICATE HAS NOT BEEN REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT
OF 1933 (THE "SECURITIES ACT") OR THE SECURITIES LAWS OF ANY STATE. ANY RESALE,
TRANSFER OR OTHER DISPOSITION OF THIS CERTIFICATE WITHOUT SUCH REGISTRATION OR
QUALIFICATION MAY BE MADE ONLY IN A TRANSACTION WHICH DOES NOT REQUIRE SUCH
REGISTRATION OR QUALIFICATION AND IN ACCORDANCE WITH THE PROVISIONS OF SECTION
5.02 OF THE AGREEMENT REFERRED TO HEREIN.

SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE IS A "REGULAR
INTEREST" IN A "REAL ESTATE MORTGAGE INVESTMENT CONDUIT" (A "REMIC") AS THOSE
TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL
REVENUE CODE OF 1986 (THE "CODE").

THIS CERTIFICATE IS SUBORDINATE TO THE CLASS A-1 CERTIFICATES, THE CLASS A-2
CERTIFICATES, THE CLASS A-3 CERTIFICATES, THE CLASS A-PB CERTIFICATES, THE CLASS
A-4 CERTIFICATES, THE CLASS A-1A CERTIFICATES, THE CLASS A-M CERTIFICATES, THE
CLASS A-J CERTIFICATES, THE CLASS B CERTIFICATES, THE CLASS C CERTIFICATES, THE
CLASS D CERTIFICATES, THE CLASS E CERTIFICATES, THE CLASS F CERTIFICATES, THE
CLASS G CERTIFICATES, THE CLASS H CERTIFICATES, THE CLASS J CERTIFICATES, THE
CLASS K CERTIFICATES, THE CLASS L CERTIFICATES, THE CLASS M CERTIFICATES AND THE
CLASS N CERTIFICATES OF THE SAME SERIES TO THE EXTENT DESCRIBED IN THE AGREEMENT
REFERRED TO HEREIN.

NO TRANSFER OF THIS CERTIFICATE OR ANY INTEREST THEREIN SHALL BE MADE TO ANY
"EMPLOYEE BENEFIT PLAN" SUBJECT TO TITLE I OF ERISA OR A "PLAN" DESCRIBED BY
SECTION 4975(E)(1) OF THE CODE OR ANY OTHER RETIREMENT PLAN OR OTHER EMPLOYEE
BENEFIT PLAN OR ARRANGEMENT SUBJECT TO ANY FEDERAL, STATE OR LOCAL LAW
MATERIALLY SIMILAR TO THE FOREGOING PROVISIONS OF ERISA AND THE CODE, OR ANY
ENTITY DEEMED TO HOLD PLAN ASSETS OF THE FOREGOING BY REASON OF A PLAN'S
INVESTMENT IN SUCH ENTITY (EACH, A "PLAN") UNLESS IT IS AN INSURANCE COMPANY
GENERAL ACCOUNT WHICH IS ELIGIBLE FOR, AND SATISFIES ALL OF THE REQUIREMENTS
FOR, EXEMPTIVE RELIEF UNDER SECTIONS I AND III OF DEPARTMENT OF LABOR PROHIBITED
TRANSACTION CLASS EXEMPTION 95-60. EACH PERSON WHO ACQUIRES THIS CERTIFICATE
SHALL BE REQUIRED (OR, IN THE CASE OF A BOOK-ENTRY CERTIFICATE, DEEMED) TO HAVE
CERTIFIED THAT THE FOREGOING CONDITIONS ARE SATISFIED, AND THAT IT WILL NOT
TRANSFER THIS CERTIFICATE IN VIOLATION OF THE FOREGOING.

IF THE AGGREGATE CERTIFICATE PRINCIPAL BALANCE OF THE CLASS A-1 CERTIFICATES,
THE CLASS A-2 CERTIFICATES, THE CLASS A-3 CERTIFICATES, THE CLASS A-PB
CERTIFICATES, THE CLASS A-4 CERTIFICATES, THE CLASS A-1A CERTIFICATES, THE CLASS
A-M CERTIFICATES, THE CLASS A-J CERTIFICATES, THE CLASS B CERTIFICATES, THE
CLASS C CERTIFICATES, THE CLASS D CERTIFICATES, THE CLASS E CERTIFICATES, THE
CLASS F CERTIFICATES, THE CLASS G CERTIFICATES, THE CLASS H CERTIFICATES, THE
CLASS J CERTIFICATES, THE CLASS K CERTIFICATES, THE CLASS L CERTIFICATES, THE
CLASS M CERTIFICATES AND THE CLASS N CERTIFICATES OF THE SAME SERIES IS REDUCED
TO ZERO, DISTRIBUTIONS IN REDUCTION OF THE CERTIFICATE PRINCIPAL BALANCE OF THIS
CERTIFICATE MAY BE MADE MONTHLY AS SET FORTH IN THE POOLING AND SERVICING
AGREEMENT REFERRED TO HEREIN. IN ADDITION, IF THE AGGREGATE CERTIFICATE
PRINCIPAL BALANCE OF THE CLASS P AND CLASS Q CERTIFICATES OF THE SAME SERIES IS
REDUCED TO ZERO, THE CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE MAY BE
REDUCED BY CERTAIN LOSSES AND EXPENSES EXPERIENCED BY THE TRUST FUND AS SET
FORTH IN THE AGREEMENT REFERRED TO HEREIN. ACCORDINGLY, THE OUTSTANDING
CERTIFICATE PRINCIPAL BALANCE HEREOF AT ANY TIME MAY BE LESS THAN THE AMOUNT
SHOWN ABOVE.

               This certifies that Cede & Co. is the registered owner of the
Percentage Interest evidenced by this Class O Certificate (obtained by dividing
the principal amount of this Class O Certificate (its "Certificate Principal
Balance") as of the Closing Date by the aggregate principal amount of all the
Class O Certificates (their "Class Principal Balance") as of the Closing Date)
in that certain beneficial ownership interest evidenced by all the Class O
Certificates in the Trust Fund created pursuant to a Pooling and Servicing
Agreement, dated as specified above (the "Agreement"), among Wachovia Commercial
Mortgage Securities, Inc. (herein called the "Depositor", which term includes
any successor entity under the Agreement), Wachovia Bank, National Association
(herein called the "Master Servicer", which term includes any successor entity
under the Agreement), LNR Partners, Inc. (herein called the "Special Servicer",
which term includes any successor entity under the Agreement) and Wells Fargo
Bank, N.A. (herein called the "Trustee", which term includes any successor
entity under the Agreement), a summary of certain of the pertinent provisions of
which is set forth hereafter. To the extent not defined herein, the capitalized
terms used herein have the respective meanings assigned in the Agreement. This
Certificate is issued under and is subject to the terms, provisions and
conditions of the Agreement, to which Agreement the Holder of this Certificate
by virtue of the acceptance hereof assents and by which such Holder is bound.

               Pursuant to the terms of the Agreement, distributions will be
made on the fourth Business Day following the related Determination Date (each,
a "Distribution Date"). The Determination Date is the 11th day of each month or,
if such 11th day is not a Business Day, the Business Day immediately succeeding,
commencing in January 2007 (each, a "Determination Date"). Distributions will be
made commencing on the first Distribution Date specified above, to the Person in
whose name this Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such distribution
(the "Record Date"), in an amount equal to the product of the Percentage
Interest evidenced by this Certificate and the amount required to be distributed
to the Holders of the Class O Certificates on the applicable Distribution Date
pursuant to the Agreement. All distributions made under the Agreement on the
Class O Certificates will be made by Wells Fargo Bank, N.A., as paying agent
(the "Paying Agent"), by wire transfer of immediately available funds to the
account of the Person entitled thereto at a bank or other entity having
appropriate facilities therefor, if such Certificateholder shall have provided
the Paying Agent with wiring instructions no less than five Business Days prior
to the related Record Date (which wiring instructions may be in the form of a
standing order applicable to all subsequent distributions), or otherwise by
check mailed to the address of such Certificateholder as it appears in the
Certificate Register. Notwithstanding the foregoing, the final distribution on
this Certificate (determined without regard to any possible future reimbursement
of any Realized Loss or Additional Trust Fund Expense previously allocated to
this Certificate) will be made in like manner, but only upon presentation and
surrender of this Certificate at the offices of the Certificate Registrar or
such other location specified in the notice to the Holder hereof of such final
distribution. Also notwithstanding the foregoing, any distribution that may be
made with respect to this Certificate in reimbursement of any Realized Loss or
Additional Trust Fund Expense previously allocated to this Certificate, which
reimbursement is to occur after the date on which this Certificate is
surrendered as contemplated by the preceding sentence, will be made by check
mailed to the address of the Holder that surrenders this Certificate as such
address last appears in the Certificate Register or to any such other address of
which the Paying Agent is subsequently notified in writing.

               The Certificates are limited in right of distribution to certain
collections and recoveries respecting the Mortgage Loans and REO Loans, all as
more specifically set forth herein and in the Agreement. As provided in the
Agreement, withdrawals from the Certificate Account, the Distribution Account
and, if established, the REO Account may be made from time to time for purposes
other than, and, in certain cases, prior to, distributions to
Certificateholders, such purposes including the reimbursement of Advances made,
or certain expenses incurred, with respect to the Mortgage Loans and the payment
of interest on such Advances and expenses.

               Interest accrued on this Certificate during an Interest Accrual
Period, plus any unpaid interest shortfall with respect to this Certificate for
any prior Distribution Date, if any, will be payable on the related Distribution
Date to the extent provided in the Agreement. The "Interest Accrual Period" with
respect to any Distribution Date and with respect to the Class O Certificates is
the calendar month preceding the month in which such Distribution Date occurs
and is assumed to consist of 30 days.

               Any distribution to the Holder of this Certificate in reduction
of the Certificate Principal Balance hereof is binding on such Holder and all
future Holders of this Certificate and any Certificate issued upon the transfer
hereof or in exchange herefor or in lieu hereof whether or not notation of such
distribution is made upon this Certificate.

               The Class O Certificates are issuable in fully registered form
only without coupons in minimum denominations specified in the Agreement. As
provided in the Agreement and subject to certain limitations therein set forth,
the Class O Certificates are exchangeable for new Class O Certificates in
authorized denominations evidencing the same aggregate Percentage Interest, as
requested by the Holder surrendering the same.

               As provided in the Agreement and subject to certain limitations
therein set forth, the transfer of this Certificate is registrable in the
Certificate Register upon surrender of this Certificate for registration of
transfer at the offices of the Certificate Registrar, duly endorsed by, or
accompanied by a written instrument of transfer in the form satisfactory to the
Certificate Registrar duly executed by, the Holder hereof or his attorney duly
authorized in writing, and thereupon one or more new Class O Certificates in
authorized denominations evidencing the same aggregate Percentage Interest will
be issued to the designated transferee or transferees.

               No transfer of any Class O Certificate shall be made unless that
transfer is made pursuant to an effective registration statement under the
Securities Act, and effective registration or qualification under applicable
state securities laws, or is made in a transaction which does not require such
registration or qualification. If such a transfer is to be made without
registration under the Securities Act (other than in connection with the initial
issuance thereof or the initial transfer thereof by the Depositor, the Initial
Purchaser or their respective affiliates), then the Certificate Registrar shall
refuse to register such transfer unless it receives either: (i) a certificate
from the Certificateholder desiring to effect such transfer substantially in the
form attached as Exhibit F-1 to the Agreement, and a certificate from such
Certificateholder's prospective transferee substantially in the form attached as
either Exhibit F-2, Exhibit F-3, Exhibit F-4, Exhibit F-5 or Exhibit F-6 to the
Agreement; or (ii) an Opinion of Counsel reasonably satisfactory to the
Certificate Registrar to the effect that such transfer may be made without
registration under the Securities Act (which Opinion of Counsel shall not be an
expense of the Trust Fund or of the Depositor, the Master Servicer, the Special
Servicer, the Trustee, the Paying Agent or the Certificate Registrar in their
respective capacities as such), together with the written certification(s) as to
the facts surrounding such transfer from the Certificateholder desiring to
effect such transfer and/or such Certificateholder's prospective transferee on
which such Opinion of Counsel is based. None of the Depositor, the Trustee, the
Paying Agent or the Certificate Registrar is obligated to register or qualify
the Class O Certificates under the Securities Act or any other securities law or
to take any action not otherwise required under the Agreement to permit the
transfer of any Class O Certificate without registration or qualification. Any
Class O Certificateholder desiring to effect such a transfer shall, and by the
acceptance of its Class O Certificate agrees to, indemnify the Trustee, the
Certificate Registrar, the Paying Agent and the Depositor against any liability
that may result if the transfer is not so exempt or is not made in accordance
with such federal and state laws.

               No service charge will be imposed for any registration of
transfer or exchange of Class O Certificates, but the Certificate Registrar may
require payment of a sum sufficient to cover any tax or other governmental
charge that may be imposed in connection with any transfer or exchange of Class
O Certificates.

               Notwithstanding the foregoing, for so long as this Certificate is
registered in the name of Cede & Co. or in such other name as is requested by an
authorized representative of DTC, transfers of interests in this Certificate
shall be made through the book-entry facilities of DTC.

               The Depositor, the Master Servicer, the Special Servicer, the
Trustee, the Paying Agent and the Certificate Registrar and any agent of the
Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying
Agent or the Certificate Registrar may treat the Person in whose name this
Certificate is registered as the owner hereof for all purposes whatsoever and
none of the Depositor, the Master Servicer, the Special Servicer, the Trustee,
the Paying Agent, the Certificate Registrar, or any such agent shall be affected
by notice to the contrary.

               The Trust Fund and the obligations created by the Agreement shall
terminate upon distribution (or provision for distribution) to the
Certificateholders of all amounts held by or on behalf of the Trustee and
required to be distributed to them pursuant to the Agreement following the
earlier to occur of (i) the final payment (or any advance with respect thereto)
or other liquidation of the last Mortgage Loan or REO Property remaining in the
Trust Fund, and (ii) the purchase by the Master Servicer, the Special Servicer
or the Majority Subordinate Certificateholder at a price determined as provided
in the Agreement of all Mortgage Loans and each REO Property remaining in the
Trust Fund. The Agreement permits, but does not require, the Master Servicer,
the Special Servicer or the Majority Subordinate Certificateholder to purchase
from the Trust Fund all Mortgage Loans and each REO Property remaining therein.
The exercise of such right will effect early retirement of the Class O
Certificates; however, such right to purchase is subject to the aggregate Stated
Principal Balance of the Mortgage Pool at the time of purchase being less than
1% of the aggregate Stated Principal Balance of the Mortgage Loans as of the
Cut-Off Date specified on the face hereof.

               In addition, any exchange by any Certificateholder of all of the
then outstanding Certificates (other than the Class Z, Class R-I and Class R-II
Certificates) for all of the Mortgage Loans and each REO Property remaining in
the Trust Fund may be made: (i) if the then outstanding Certificates (other than
the Class Z, Class R-I and Class R-II Certificates) are held by a single
Certificateholder and (ii) the Class A-1, Class A-2, Class A-3, Class A-PB,
Class A-4, Class A-1A, Class A-M, Class A-J, Class B, Class C, Class D and Class
E Certificates have been paid in full.

               The Agreement permits, with certain exceptions therein provided,
the amendment thereof and the modification of the rights and obligations of the
Depositor, the Master Servicer, the Special Servicer and the Trustee and the
rights of the Certificateholders under the Agreement at any time by the
Depositor, the Master Servicer, the Special Servicer and the Trustee with the
consent of the Holders of Certificates entitled to at least 51% of the Voting
Rights allocated to the affected Classes. Any such consent by the Holder of this
Certificate shall be conclusive and binding on such Holder and upon all future
Holders of this Certificate and of any Certificate issued upon the transfer
hereof or in exchange herefor or in lieu hereof whether or not notation of such
consent is made upon this Certificate. The Agreement also permits the amendment
thereof, in certain limited circumstances, including any amendment necessary to
maintain the status of the Trust Fund (or designated portions thereof) as
consisting of two separate REMICs and one grantor trust, without the consent of
the Holders of any of the Certificates.

               Unless the certificate of authentication hereon has been executed
by the Certificate Registrar, by manual signature, this Certificate shall not be
entitled to any benefit under the Agreement or be valid for any purpose.

               The registered Holder hereof, by its acceptance hereof, agrees
that it will look solely to the Trust Fund (to the extent of its rights therein)
for distributions hereunder.

               This Certificate shall be construed in accordance with the
internal laws of the State of New York applicable to agreements made and to be
performed in said State, and the obligations, rights and remedies of the Holder
hereof shall be determined in accordance with such laws.

<PAGE>

               IN WITNESS WHEREOF, the Certificate Registrar has caused this
Certificate to be duly executed.

Dated: December 21, 2006

                                          WELLS FARGO BANK, N.A., as Certificate
                                              Registrar

                                          By: __________________________________
                                              Authorized Representative

                          CERTIFICATE OF AUTHENTICATION

               This is one of the Class O Certificates referred to in the
within-mentioned Agreement.

                                          WELLS FARGO BANK, N.A., as
                                              Authenticating Agent

                                          By: __________________________________
                                              Authorized Representative

<PAGE>

                                   ASSIGNMENT

               FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and
transfer(s) unto ________________________________________________________
(please print or typewrite name and address including postal zip code of
assignee) the beneficial ownership interest in the Trust Fund evidenced by the
within Commercial Mortgage Pass-Through Certificate and hereby authorize(s) the
registration of transfer of such interest to assignee on the Certificate
Register of the Trust Fund.

               I (we) further direct the Certificate Registrar to issue a new
Commercial Mortgage Pass-Through Certificate of a like Percentage Interest and
Class to the above named assignee and deliver such Commercial Mortgage
Pass-Through Certificate to the following address:
_________________________________________________________________________.

Dated: _________________________

                                          ______________________________________
                                           Signature by or on behalf of Assignor

                                          ______________________________________
                                                  Signature Guaranteed

<PAGE>

                            DISTRIBUTION INSTRUCTIONS

               The Assignee should include the following for purposes of
distribution:

               Distributions shall, if permitted, be made by wire transfer or
otherwise, in immediately available funds, to _____________________________ for
the account of _______________.

               Distributions made by check (such check to be made payable to
_____________________) and all applicable statements and notices should be
mailed to _____________________________.

               This information is provided by ________________________________,
the Assignee named above, or ____________________________________, as its agent.

<PAGE>

                                 EXHIBIT A-23-1

                           FORM OF CLASS P CERTIFICATE

              CLASS P COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATE,
                                 SERIES 2006-C29

evidencing a beneficial ownership interest in a trust fund (the "Trust Fund")
consisting primarily of a pool of multifamily and commercial mortgage loans (the
"Mortgage Loans"), such pool being formed and sold by

                     WACHOVIA BANK COMMERCIAL MORTGAGE TRUST

Pass-Through Rate: Variable                  Class Principal Balance of the
                                             Class P Certificates as of the
                                             Closing Date: $8,428,000

Date of Pooling and Servicing Agreement:     Initial Certificate Principal
as of December 1, 2006                       Balance of this Class P Certificate
                                             as of the Closing Date: $8,428,000

Closing Date: December 21, 2006              Aggregate Stated Principal Balance
                                             of the Mortgage Loans as of the
                                             Cut-Off Date: $3,371,274,173

First Distribution Date: January 18, 2007

Master Servicer: Wachovia Bank, National     Trustee: Wells Fargo Bank, N.A.
Association

Special Servicer: LNR Partners, Inc.

Certificate No. P-1                          CUSIP No. [_]

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST CORPORATION, A NEW YORK CORPORATION ("DTC"), TO THE DEPOSITOR,
THE MASTER SERVICER, THE TRUSTEE, THE CERTIFICATE REGISTRAR OR ANY AGENT THEREOF
FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED
IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO
SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY
TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON
IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
HEREIN.

THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN WACHOVIA
COMMERCIAL MORTGAGE SECURITIES, INC., WELLS FARGO BANK, N.A., LNR PARTNERS,
INC., WACHOVIA BANK, NATIONAL ASSOCIATION OR ANY OF THEIR RESPECTIVE AFFILIATES.
NEITHER THIS CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS ARE GUARANTEED BY ANY
AGENCY OR INSTRUMENTALITY OF THE UNITED STATES OR ANY OTHER PERSON.

THIS CERTIFICATE HAS NOT BEEN REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT
OF 1933 (THE "SECURITIES ACT") OR THE SECURITIES LAWS OF ANY STATE. ANY RESALE,
TRANSFER OR OTHER DISPOSITION OF THIS CERTIFICATE WITHOUT SUCH REGISTRATION OR
QUALIFICATION MAY BE MADE ONLY IN A TRANSACTION WHICH DOES NOT REQUIRE SUCH
REGISTRATION OR QUALIFICATION AND IN ACCORDANCE WITH THE PROVISIONS OF SECTION
5.02 OF THE AGREEMENT REFERRED TO HEREIN.

SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE IS A "REGULAR
INTEREST" IN A "REAL ESTATE MORTGAGE INVESTMENT CONDUIT" (A "REMIC") AS THOSE
TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL
REVENUE CODE OF 1986 (THE "CODE").

THIS CERTIFICATE IS SUBORDINATE TO THE CLASS A-1 CERTIFICATES, THE CLASS A-2
CERTIFICATES, THE CLASS A-3 CERTIFICATES, THE CLASS A-PB CERTIFICATES, THE CLASS
A-4 CERTIFICATES, THE CLASS A-1A CERTIFICATES, THE CLASS A-M CERTIFICATES, THE
CLASS A-J CERTIFICATES, THE CLASS B CERTIFICATES, THE CLASS C CERTIFICATES, THE
CLASS D CERTIFICATES, THE CLASS E CERTIFICATES, THE CLASS F CERTIFICATES, THE
CLASS G CERTIFICATES, THE CLASS H CERTIFICATES, THE CLASS J CERTIFICATES, THE
CLASS K CERTIFICATES, THE CLASS L CERTIFICATES, THE CLASS M CERTIFICATES, THE
CLASS N CERTIFICATES AND THE CLASS O CERTIFICATES OF THE SAME SERIES TO THE
EXTENT DESCRIBED IN THE AGREEMENT REFERRED TO HEREIN.

NO TRANSFER OF THIS CERTIFICATE OR ANY INTEREST THEREIN SHALL BE MADE TO ANY
"EMPLOYEE BENEFIT PLAN" SUBJECT TO TITLE I OF ERISA OR A "PLAN" DESCRIBED BY
SECTION 4975(E)(1) OF THE CODE OR ANY OTHER RETIREMENT PLAN OR OTHER EMPLOYEE
BENEFIT PLAN OR ARRANGEMENT SUBJECT TO ANY FEDERAL, STATE OR LOCAL LAW
MATERIALLY SIMILAR TO THE FOREGOING PROVISIONS OF ERISA AND THE CODE, OR ANY
ENTITY DEEMED TO HOLD PLAN ASSETS OF THE FOREGOING BY REASON OF A PLAN'S
INVESTMENT IN SUCH ENTITY (EACH, A "PLAN") UNLESS IT IS AN INSURANCE COMPANY
GENERAL ACCOUNT WHICH IS ELIGIBLE FOR, AND SATISFIES ALL OF THE REQUIREMENTS
FOR, EXEMPTIVE RELIEF UNDER SECTIONS I AND III OF DEPARTMENT OF LABOR PROHIBITED
TRANSACTION CLASS EXEMPTION 95-60. EACH PERSON WHO ACQUIRES THIS CERTIFICATE
SHALL BE REQUIRED (OR, IN THE CASE OF A BOOK-ENTRY CERTIFICATE, DEEMED) TO HAVE
CERTIFIED THAT THE FOREGOING CONDITIONS ARE SATISFIED, AND THAT IT WILL NOT
TRANSFER THIS CERTIFICATE IN VIOLATION OF THE FOREGOING.

IF THE AGGREGATE CERTIFICATE PRINCIPAL BALANCE OF THE CLASS A-1 CERTIFICATES,
THE CLASS A-2 CERTIFICATES, THE CLASS A-3 CERTIFICATES, THE CLASS A-PB
CERTIFICATES, THE CLASS A-4 CERTIFICATES, THE CLASS A-1A CERTIFICATES, THE CLASS
A-M CERTIFICATES, THE CLASS A-J CERTIFICATES, THE CLASS B CERTIFICATES, THE
CLASS C CERTIFICATES, THE CLASS D CERTIFICATES, THE CLASS E CERTIFICATES, THE
CLASS F CERTIFICATES, THE CLASS G CERTIFICATES, THE CLASS H CERTIFICATES, THE
CLASS J CERTIFICATES, THE CLASS K CERTIFICATES, THE CLASS L CERTIFICATES, THE
CLASS M CERTIFICATES, THE CLASS N CERTIFICATES AND THE CLASS O CERTIFICATES OF
THE SAME SERIES IS REDUCED TO ZERO, DISTRIBUTIONS IN REDUCTION OF THE
CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE MAY BE MADE MONTHLY AS SET
FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN. IN ADDITION, IF
THE AGGREGATE CERTIFICATE PRINCIPAL BALANCE OF THE CLASS Q CERTIFICATES OF THE
SAME SERIES IS REDUCED TO ZERO, THE CERTIFICATE PRINCIPAL BALANCE OF THIS
CERTIFICATE MAY BE REDUCED BY CERTAIN LOSSES AND EXPENSES EXPERIENCED BY THE
TRUST FUND AS SET FORTH IN THE AGREEMENT REFERRED TO HEREIN. ACCORDINGLY, THE
OUTSTANDING CERTIFICATE PRINCIPAL BALANCE HEREOF AT ANY TIME MAY BE LESS THAN
THE AMOUNT SHOWN ABOVE.

               This certifies that Cede & Co. is the registered owner of the
Percentage Interest evidenced by this Class P Certificate (obtained by dividing
the principal amount of this Class P Certificate (its "Certificate Principal
Balance") as of the Closing Date by the aggregate principal amount of all the
Class P Certificates (their "Class Principal Balance") as of the Closing Date)
in that certain beneficial ownership interest evidenced by all the Class P
Certificates in the Trust Fund created pursuant to a Pooling and Servicing
Agreement, dated as specified above (the "Agreement"), among Wachovia Commercial
Mortgage Securities, Inc. (herein called the "Depositor", which term includes
any successor entity under the Agreement), Wachovia Bank, National Association
(herein called the "Master Servicer", which term includes any successor entity
under the Agreement), LNR Partners, Inc. (herein called the "Special Servicer",
which term includes any successor entity under the Agreement) and Wells Fargo
Bank, N.A. (herein called the "Trustee", which term includes any successor
entity under the Agreement), a summary of certain of the pertinent provisions of
which is set forth hereafter. To the extent not defined herein, the capitalized
terms used herein have the respective meanings assigned in the Agreement. This
Certificate is issued under and is subject to the terms, provisions and
conditions of the Agreement, to which Agreement the Holder of this Certificate
by virtue of the acceptance hereof assents and by which such Holder is bound.

               Pursuant to the terms of the Agreement, distributions will be
made on the fourth Business Day following the related Determination Date (each,
a "Distribution Date"). The Determination Date is the 11th day of each month or,
if such 11th day is not a Business Day, the Business Day immediately succeeding,
commencing in January 2007 (each, a "Determination Date"). Distributions will be
made commencing on the first Distribution Date specified above, to the Person in
whose name this Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such distribution
(the "Record Date"), in an amount equal to the product of the Percentage
Interest evidenced by this Certificate and the amount required to be distributed
to the Holders of the Class P Certificates on the applicable Distribution Date
pursuant to the Agreement. All distributions made under the Agreement on the
Class P Certificates will be made by Wells Fargo Bank, N.A., as paying agent
(the "Paying Agent"), by wire transfer of immediately available funds to the
account of the Person entitled thereto at a bank or other entity having
appropriate facilities therefor, if such Certificateholder shall have provided
the Paying Agent with wiring instructions no less than five Business Days prior
to the related Record Date (which wiring instructions may be in the form of a
standing order applicable to all subsequent distributions), or otherwise by
check mailed to the address of such Certificateholder as it appears in the
Certificate Register. Notwithstanding the foregoing, the final distribution on
this Certificate (determined without regard to any possible future reimbursement
of any Realized Loss or Additional Trust Fund Expense previously allocated to
this Certificate) will be made in like manner, but only upon presentation and
surrender of this Certificate at the offices of the Certificate Registrar or
such other location specified in the notice to the Holder hereof of such final
distribution. Also notwithstanding the foregoing, any distribution that may be
made with respect to this Certificate in reimbursement of any Realized Loss or
Additional Trust Fund Expense previously allocated to this Certificate, which
reimbursement is to occur after the date on which this Certificate is
surrendered as contemplated by the preceding sentence, will be made by check
mailed to the address of the Holder that surrenders this Certificate as such
address last appears in the Certificate Register or to any such other address of
which the Paying Agent is subsequently notified in writing.

               The Certificates are limited in right of distribution to certain
collections and recoveries respecting the Mortgage Loans and REO Loans, all as
more specifically set forth herein and in the Agreement. As provided in the
Agreement, withdrawals from the Certificate Account, the Distribution Account
and, if established, the REO Account may be made from time to time for purposes
other than, and, in certain cases, prior to, distributions to
Certificateholders, such purposes including the reimbursement of Advances made,
or certain expenses incurred, with respect to the Mortgage Loans and the payment
of interest on such Advances and expenses.

               Interest accrued on this Certificate during an Interest Accrual
Period, plus any unpaid interest shortfall with respect to this Certificate for
any prior Distribution Date, if any, will be payable on the related Distribution
Date to the extent provided in the Agreement. The "Interest Accrual Period" with
respect to any Distribution Date and with respect to the Class P Certificates is
the calendar month preceding the month in which such Distribution Date occurs
and is assumed to consist of 30 days.

               Any distribution to the Holder of this Certificate in reduction
of the Certificate Principal Balance hereof is binding on such Holder and all
future Holders of this Certificate and any Certificate issued upon the transfer
hereof or in exchange herefor or in lieu hereof whether or not notation of such
distribution is made upon this Certificate.

               The Class P Certificates are issuable in fully registered form
only without coupons in minimum denominations specified in the Agreement. As
provided in the Agreement and subject to certain limitations therein set forth,
the Class P Certificates are exchangeable for new Class P Certificates in
authorized denominations evidencing the same aggregate Percentage Interest, as
requested by the Holder surrendering the same.

               As provided in the Agreement and subject to certain limitations
therein set forth, the transfer of this Certificate is registrable in the
Certificate Register upon surrender of this Certificate for registration of
transfer at the offices of the Certificate Registrar, duly endorsed by, or
accompanied by a written instrument of transfer in the form satisfactory to the
Certificate Registrar duly executed by, the Holder hereof or his attorney duly
authorized in writing, and thereupon one or more new Class P Certificates in
authorized denominations evidencing the same aggregate Percentage Interest will
be issued to the designated transferee or transferees.

               No transfer of any Class P Certificate shall be made unless that
transfer is made pursuant to an effective registration statement under the
Securities Act, and effective registration or qualification under applicable
state securities laws, or is made in a transaction which does not require such
registration or qualification. If such a transfer is to be made without
registration under the Securities Act (other than in connection with the initial
issuance thereof or the initial transfer thereof by the Depositor, the Initial
Purchaser or their respective affiliates), then the Certificate Registrar shall
refuse to register such transfer unless it receives either: (i) a certificate
from the Certificateholder desiring to effect such transfer substantially in the
form attached as Exhibit F-1 to the Agreement, and a certificate from such
Certificateholder's prospective transferee substantially in the form attached as
either Exhibit F-2, Exhibit F-3, Exhibit F-4, Exhibit F-5 or Exhibit F-6 to the
Agreement; or (ii) an Opinion of Counsel reasonably satisfactory to the
Certificate Registrar to the effect that such transfer may be made without
registration under the Securities Act (which Opinion of Counsel shall not be an
expense of the Trust Fund or of the Depositor, the Master Servicer, the Special
Servicer, the Trustee, the Paying Agent or the Certificate Registrar in their
respective capacities as such), together with the written certification(s) as to
the facts surrounding such transfer from the Certificateholder desiring to
effect such transfer and/or such Certificateholder's prospective transferee on
which such Opinion of Counsel is based. None of the Depositor, the Trustee,
Paying Agent or the Certificate Registrar is obligated to register or qualify
the Class P Certificates under the Securities Act or any other securities law or
to take any action not otherwise required under the Agreement to permit the
transfer of any Class P Certificate without registration or qualification. Any
Class P Certificateholder desiring to effect such a transfer shall, and by the
acceptance of its Class P Certificate agrees to, indemnify the Trustee, the
Certificate Registrar, the Paying Agent and the Depositor against any liability
that may result if the transfer is not so exempt or is not made in accordance
with such federal and state laws.

               No service charge will be imposed for any registration of
transfer or exchange of Class P Certificates, but the Certificate Registrar may
require payment of a sum sufficient to cover any tax or other governmental
charge that may be imposed in connection with any transfer or exchange of Class
P Certificates.

               Notwithstanding the foregoing, for so long as this Certificate is
registered in the name of Cede & Co. or in such other name as is requested by an
authorized representative of DTC, transfers of interests in this Certificate
shall be made through the book-entry facilities of DTC.

               The Depositor, the Master Servicer, the Special Servicer, the
Trustee, the Paying Agent and the Certificate Registrar and any agent of the
Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying
Agent or the Certificate Registrar may treat the Person in whose name this
Certificate is registered as the owner hereof for all purposes whatsoever and
none of the Depositor, the Master Servicer, the Special Servicer, the Trustee,
the Paying Agent, the Certificate Registrar, or any such agent shall be affected
by notice to the contrary.

               The Trust Fund and the obligations created by the Agreement shall
terminate upon distribution (or provision for distribution) to the
Certificateholders of all amounts held by or on behalf of the Trustee and
required to be distributed to them pursuant to the Agreement following the
earlier to occur of (i) the final payment (or any advance with respect thereto)
or other liquidation of the last Mortgage Loan or REO Property remaining in the
Trust Fund, and (ii) the purchase by the Master Servicer, the Special Servicer
or the Majority Subordinate Certificateholder at a price determined as provided
in the Agreement of all Mortgage Loans and each REO Property remaining in the
Trust Fund. The Agreement permits, but does not require, the Master Servicer,
the Special Servicer or the Majority Subordinate Certificateholder to purchase
from the Trust Fund all Mortgage Loans and each REO Property remaining therein.
The exercise of such right will effect early retirement of the Class P
Certificates; however, such right to purchase is subject to the aggregate Stated
Principal Balance of the Mortgage Pool at the time of purchase being less than
1% of the aggregate Stated Principal Balance of the Mortgage Loans as of the
Cut-Off Date specified on the face hereof.

               In addition, any exchange by any Certificateholder of all of the
then outstanding Certificates (other than the Class Z, Class R-I and Class R-II
Certificates) for all of the Mortgage Loans and each REO Property remaining in
the Trust Fund may be made: (i) if the then outstanding Certificates (other than
the Class Z, Class R-I and Class R-II Certificates) are held by a single
Certificateholder and (ii) the Class A-1, Class A-2, Class A-3, Class A-PB,
Class A-4, Class A-1A, Class A-M, Class A-J, Class B, Class C, Class D and Class
E Certificates have been paid in full.

               The Agreement permits, with certain exceptions therein provided,
the amendment thereof and the modification of the rights and obligations of the
Depositor, the Master Servicer, the Special Servicer and the Trustee and the
rights of the Certificateholders under the Agreement at any time by the
Depositor, the Master Servicer, the Special Servicer and the Trustee with the
consent of the Holders of Certificates entitled to at least 51% of the Voting
Rights allocated to the affected Classes. Any such consent by the Holder of this
Certificate shall be conclusive and binding on such Holder and upon all future
Holders of this Certificate and of any Certificate issued upon the transfer
hereof or in exchange herefor or in lieu hereof whether or not notation of such
consent is made upon this Certificate. The Agreement also permits the amendment
thereof, in certain limited circumstances, including any amendment necessary to
maintain the status of the Trust Fund (or designated portions thereof) as
consisting of two separate REMICs and one grantor trust, without the consent of
the Holders of any of the Certificates.

               Unless the certificate of authentication hereon has been executed
by the Certificate Registrar, by manual signature, this Certificate shall not be
entitled to any benefit under the Agreement or be valid for any purpose.

               The registered Holder hereof, by its acceptance hereof, agrees
that it will look solely to the Trust Fund (to the extent of its rights therein)
for distributions hereunder.

               This Certificate shall be construed in accordance with the
internal laws of the State of New York applicable to agreements made and to be
performed in said State, and the obligations, rights and remedies of the Holder
hereof shall be determined in accordance with such laws.

<PAGE>

               IN WITNESS WHEREOF, the Certificate Registrar has caused this
Certificate to be duly executed.

Dated: December 21, 2006

                                          WELLS FARGO BANK, N.A., as Certificate
                                              Registrar

                                          By: __________________________________
                                              Authorized Representative

                          CERTIFICATE OF AUTHENTICATION

               This is one of the Class P Certificates referred to in the
within-mentioned Agreement.

                                          WELLS FARGO BANK, N.A., as
                                              Authenticating Agent

                                          By: __________________________________
                                              Authorized Representative

<PAGE>

                                   ASSIGNMENT

               FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and
transfer(s) unto ________________________________________________________
(please print or typewrite name and address including postal zip code of
assignee) the beneficial ownership interest in the Trust Fund evidenced by the
within Commercial Mortgage Pass-Through Certificate and hereby authorize(s) the
registration of transfer of such interest to assignee on the Certificate
Register of the Trust Fund.

               I (we) further direct the Certificate Registrar to issue a new
Commercial Mortgage Pass-Through Certificate of a like Percentage Interest and
Class to the above named assignee and deliver such Commercial Mortgage
Pass-Through Certificate to the following address:
_________________________________________________________________________.

Dated: _________________________

                                          ______________________________________
                                           Signature by or on behalf of Assignor

                                          ______________________________________
                                                  Signature Guaranteed

<PAGE>

                            DISTRIBUTION INSTRUCTIONS

               The Assignee should include the following for purposes of
distribution:

               Distributions shall, if permitted, be made by wire transfer or
otherwise, in immediately available funds, to _____________________________ for
the account of _______________.

               Distributions made by check (such check to be made payable to
_____________________) and all applicable statements and notices should be
mailed to _____________________________.

               This information is provided by ________________________________,
the Assignee named above, or ____________________________________, as its agent.

<PAGE>

                                 EXHIBIT A-23-2

                           FORM OF CLASS P CERTIFICATE

              CLASS P COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATE,
                                 SERIES 2006-C29

evidencing a beneficial ownership interest in a trust fund (the "Trust Fund")
consisting primarily of a pool of multifamily and commercial mortgage loans (the
"Mortgage Loans"), such pool being formed and sold by

                     WACHOVIA BANK COMMERCIAL MORTGAGE TRUST

Pass-Through Rate: Variable                  Class Principal Balance of the
                                             Class P Certificates as of the
                                             Closing Date: $8,428,000

Date of Pooling and Servicing Agreement:     Initial Certificate Principal
as of December 1, 2006                       Balance of this Class P Certificate
                                             as of the Closing Date: $0

Closing Date: December 21, 2006              Aggregate Stated Principal Balance
                                             of the Mortgage Loans as of the
                                             Cut-Off Date: $3,371,274,173

First Distribution Date: January 18, 2007

Master Servicer: Wachovia Bank, National     Trustee: Wells Fargo Bank, N.A.
Association

Special Servicer: LNR Partners, Inc.

Certificate No. P-2                          CUSIP No. [_]

 UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST CORPORATION, A NEW YORK CORPORATION ("DTC"), TO THE DEPOSITOR,
THE MASTER SERVICER, THE TRUSTEE, THE CERTIFICATE REGISTRAR OR ANY AGENT THEREOF
FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED
IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO
SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY
TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON
IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
HEREIN.

THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN WACHOVIA
COMMERCIAL MORTGAGE SECURITIES, INC., WELLS FARGO BANK, N.A., LNR PARTNERS,
INC., WACHOVIA BANK, NATIONAL ASSOCIATION OR ANY OF THEIR RESPECTIVE AFFILIATES.
NEITHER THIS CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS ARE GUARANTEED BY ANY
AGENCY OR INSTRUMENTALITY OF THE UNITED STATES OR ANY OTHER PERSON.

THIS CERTIFICATE HAS NOT BEEN REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT
OF 1933 (THE "SECURITIES ACT") OR THE SECURITIES LAWS OF ANY STATE. ANY RESALE,
TRANSFER OR OTHER DISPOSITION OF THIS CERTIFICATE WITHOUT SUCH REGISTRATION OR
QUALIFICATION MAY BE MADE ONLY IN A TRANSACTION WHICH DOES NOT REQUIRE SUCH
REGISTRATION OR QUALIFICATION AND IN ACCORDANCE WITH THE PROVISIONS OF SECTION
5.02 OF THE AGREEMENT REFERRED TO HEREIN.

SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE IS A "REGULAR
INTEREST" IN A "REAL ESTATE MORTGAGE INVESTMENT CONDUIT" (A "REMIC") AS THOSE
TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL
REVENUE CODE OF 1986 (THE "CODE").

THIS CERTIFICATE IS SUBORDINATE TO THE CLASS A-1 CERTIFICATES, THE CLASS A-2
CERTIFICATES, THE CLASS A-3 CERTIFICATES, THE CLASS A-PB CERTIFICATES, THE CLASS
A-4 CERTIFICATES, THE CLASS A-1A CERTIFICATES, THE CLASS A-M CERTIFICATES, THE
CLASS A-J CERTIFICATES, THE CLASS B CERTIFICATES, THE CLASS C CERTIFICATES, THE
CLASS D CERTIFICATES, THE CLASS E CERTIFICATES, THE CLASS F CERTIFICATES, THE
CLASS G CERTIFICATES, THE CLASS H CERTIFICATES, THE CLASS J CERTIFICATES, THE
CLASS K CERTIFICATES, THE CLASS L CERTIFICATES, THE CLASS M CERTIFICATES, THE
CLASS N CERTIFICATES AND THE CLASS O CERTIFICATES OF THE SAME SERIES TO THE
EXTENT DESCRIBED IN THE AGREEMENT REFERRED TO HEREIN.

NO TRANSFER OF THIS CERTIFICATE OR ANY INTEREST THEREIN SHALL BE MADE TO ANY
"EMPLOYEE BENEFIT PLAN" SUBJECT TO TITLE I OF ERISA OR A "PLAN" DESCRIBED BY
SECTION 4975(E)(1) OF THE CODE OR ANY OTHER RETIREMENT PLAN OR OTHER EMPLOYEE
BENEFIT PLAN OR ARRANGEMENT SUBJECT TO ANY FEDERAL, STATE OR LOCAL LAW
MATERIALLY SIMILAR TO THE FOREGOING PROVISIONS OF ERISA AND THE CODE, OR ANY
ENTITY DEEMED TO HOLD PLAN ASSETS OF THE FOREGOING BY REASON OF A PLAN'S
INVESTMENT IN SUCH ENTITY (EACH, A "PLAN") UNLESS IT IS AN INSURANCE COMPANY
GENERAL ACCOUNT WHICH IS ELIGIBLE FOR, AND SATISFIES ALL OF THE REQUIREMENTS
FOR, EXEMPTIVE RELIEF UNDER SECTIONS I AND III OF DEPARTMENT OF LABOR PROHIBITED
TRANSACTION CLASS EXEMPTION 95-60. EACH PERSON WHO ACQUIRES THIS CERTIFICATE
SHALL BE REQUIRED (OR, IN THE CASE OF A BOOK-ENTRY CERTIFICATE, DEEMED) TO HAVE
CERTIFIED THAT THE FOREGOING CONDITIONS ARE SATISFIED, AND THAT IT WILL NOT
TRANSFER THIS CERTIFICATE IN VIOLATION OF THE FOREGOING.

IF THE AGGREGATE CERTIFICATE PRINCIPAL BALANCE OF THE CLASS A-1 CERTIFICATES,
THE CLASS A-2 CERTIFICATES, THE CLASS A-3 CERTIFICATES, THE CLASS A-PB
CERTIFICATES, THE CLASS A-4 CERTIFICATES, THE CLASS A-1A CERTIFICATES, THE CLASS
A-M CERTIFICATES, THE CLASS A-J CERTIFICATES, THE CLASS B CERTIFICATES, THE
CLASS C CERTIFICATES, THE CLASS D CERTIFICATES, THE CLASS E CERTIFICATES, THE
CLASS F CERTIFICATES, THE CLASS G CERTIFICATES, THE CLASS H CERTIFICATES, THE
CLASS J CERTIFICATES, THE CLASS K CERTIFICATES, THE CLASS L CERTIFICATES, THE
CLASS M CERTIFICATES, THE CLASS N CERTIFICATES AND THE CLASS O CERTIFICATES OF
THE SAME SERIES IS REDUCED TO ZERO, DISTRIBUTIONS IN REDUCTION OF THE
CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE MAY BE MADE MONTHLY AS SET
FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN. IN ADDITION, IF
THE AGGREGATE CERTIFICATE PRINCIPAL BALANCE OF THE CLASS Q CERTIFICATES OF THE
SAME SERIES IS REDUCED TO ZERO, THE CERTIFICATE PRINCIPAL BALANCE OF THIS
CERTIFICATE MAY BE REDUCED BY CERTAIN LOSSES AND EXPENSES EXPERIENCED BY THE
TRUST FUND AS SET FORTH IN THE AGREEMENT REFERRED TO HEREIN. ACCORDINGLY, THE
OUTSTANDING CERTIFICATE PRINCIPAL BALANCE HEREOF AT ANY TIME MAY BE LESS THAN
THE AMOUNT SHOWN ABOVE.

               This certifies that Cede & Co. is the registered owner of the
Percentage Interest evidenced by this Class P Certificate (obtained by dividing
the principal amount of this Class P Certificate (its "Certificate Principal
Balance") as of the Closing Date by the aggregate principal amount of all the
Class P Certificates (their "Class Principal Balance") as of the Closing Date)
in that certain beneficial ownership interest evidenced by all the Class P
Certificates in the Trust Fund created pursuant to a Pooling and Servicing
Agreement, dated as specified above (the "Agreement"), among Wachovia Commercial
Mortgage Securities, Inc. (herein called the "Depositor", which term includes
any successor entity under the Agreement), Wachovia Bank, National Association
(herein called the "Master Servicer", which term includes any successor entity
under the Agreement), LNR Partners, Inc. (herein called the "Special Servicer",
which term includes any successor entity under the Agreement) and Wells Fargo
Bank, N.A. (herein called the "Trustee", which term includes any successor
entity under the Agreement), a summary of certain of the pertinent provisions of
which is set forth hereafter. To the extent not defined herein, the capitalized
terms used herein have the respective meanings assigned in the Agreement. This
Certificate is issued under and is subject to the terms, provisions and
conditions of the Agreement, to which Agreement the Holder of this Certificate
by virtue of the acceptance hereof assents and by which such Holder is bound.

               Pursuant to the terms of the Agreement, distributions will be
made on the fourth Business Day following the related Determination Date (each,
a "Distribution Date"). The Determination Date is the 11th day of each month or,
if such 11th day is not a Business Day, the Business Day immediately succeeding,
commencing in January 2007 (each, a "Determination Date"). Distributions will be
made commencing on the first Distribution Date specified above, to the Person in
whose name this Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such distribution
(the "Record Date"), in an amount equal to the product of the Percentage
Interest evidenced by this Certificate and the amount required to be distributed
to the Holders of the Class P Certificates on the applicable Distribution Date
pursuant to the Agreement. All distributions made under the Agreement on the
Class P Certificates will be made by Wells Fargo Bank, N.A., as paying agent
(the "Paying Agent"), by wire transfer of immediately available funds to the
account of the Person entitled thereto at a bank or other entity having
appropriate facilities therefor, if such Certificateholder shall have provided
the Paying Agent with wiring instructions no less than five Business Days prior
to the related Record Date (which wiring instructions may be in the form of a
standing order applicable to all subsequent distributions), or otherwise by
check mailed to the address of such Certificateholder as it appears in the
Certificate Register. Notwithstanding the foregoing, the final distribution on
this Certificate (determined without regard to any possible future reimbursement
of any Realized Loss or Additional Trust Fund Expense previously allocated to
this Certificate) will be made in like manner, but only upon presentation and
surrender of this Certificate at the offices of the Certificate Registrar or
such other location specified in the notice to the Holder hereof of such final
distribution. Also notwithstanding the foregoing, any distribution that may be
made with respect to this Certificate in reimbursement of any Realized Loss or
Additional Trust Fund Expense previously allocated to this Certificate, which
reimbursement is to occur after the date on which this Certificate is
surrendered as contemplated by the preceding sentence, will be made by check
mailed to the address of the Holder that surrenders this Certificate as such
address last appears in the Certificate Register or to any such other address of
which the Paying Agent is subsequently notified in writing.

               The Certificates are limited in right of distribution to certain
collections and recoveries respecting the Mortgage Loans and REO Loans, all as
more specifically set forth herein and in the Agreement. As provided in the
Agreement, withdrawals from the Certificate Account, the Distribution Account
and, if established, the REO Account may be made from time to time for purposes
other than, and, in certain cases, prior to, distributions to
Certificateholders, such purposes including the reimbursement of Advances made,
or certain expenses incurred, with respect to the Mortgage Loans and the payment
of interest on such Advances and expenses.

               Interest accrued on this Certificate during an Interest Accrual
Period, plus any unpaid interest shortfall with respect to this Certificate for
any prior Distribution Date, if any, will be payable on the related Distribution
Date to the extent provided in the Agreement. The "Interest Accrual Period" with
respect to any Distribution Date and with respect to the Class P Certificates is
the calendar month preceding the month in which such Distribution Date occurs
and is assumed to consist of 30 days.

               Any distribution to the Holder of this Certificate in reduction
of the Certificate Principal Balance hereof is binding on such Holder and all
future Holders of this Certificate and any Certificate issued upon the transfer
hereof or in exchange herefor or in lieu hereof whether or not notation of such
distribution is made upon this Certificate.

               The Class P Certificates are issuable in fully registered form
only without coupons in minimum denominations specified in the Agreement. As
provided in the Agreement and subject to certain limitations therein set forth,
the Class P Certificates are exchangeable for new Class P Certificates in
authorized denominations evidencing the same aggregate Percentage Interest, as
requested by the Holder surrendering the same.

               As provided in the Agreement and subject to certain limitations
therein set forth, the transfer of this Certificate is registrable in the
Certificate Register upon surrender of this Certificate for registration of
transfer at the offices of the Certificate Registrar, duly endorsed by, or
accompanied by a written instrument of transfer in the form satisfactory to the
Certificate Registrar duly executed by, the Holder hereof or his attorney duly
authorized in writing, and thereupon one or more new Class P Certificates in
authorized denominations evidencing the same aggregate Percentage Interest will
be issued to the designated transferee or transferees.

               No transfer of any Class P Certificate shall be made unless that
transfer is made pursuant to an effective registration statement under the
Securities Act, and effective registration or qualification under applicable
state securities laws, or is made in a transaction which does not require such
registration or qualification. If such a transfer is to be made without
registration under the Securities Act (other than in connection with the initial
issuance thereof or the initial transfer thereof by the Depositor, the Initial
Purchaser or their respective affiliates), then the Certificate Registrar shall
refuse to register such transfer unless it receives either: (i) a certificate
from the Certificateholder desiring to effect such transfer substantially in the
form attached as Exhibit F-1 to the Agreement, and a certificate from such
Certificateholder's prospective transferee substantially in the form attached as
either Exhibit F-2, Exhibit F-3, Exhibit F-4, Exhibit F-5 or Exhibit F-6 to the
Agreement; or (ii) an Opinion of Counsel reasonably satisfactory to the
Certificate Registrar to the effect that such transfer may be made without
registration under the Securities Act (which Opinion of Counsel shall not be an
expense of the Trust Fund or of the Depositor, the Master Servicer, the Special
Servicer, the Trustee, the Paying Agent or the Certificate Registrar in their
respective capacities as such), together with the written certification(s) as to
the facts surrounding such transfer from the Certificateholder desiring to
effect such transfer and/or such Certificateholder's prospective transferee on
which such Opinion of Counsel is based. None of the Depositor, the Trustee,
Paying Agent or the Certificate Registrar is obligated to register or qualify
the Class P Certificates under the Securities Act or any other securities law or
to take any action not otherwise required under the Agreement to permit the
transfer of any Class P Certificate without registration or qualification. Any
Class P Certificateholder desiring to effect such a transfer shall, and by the
acceptance of its Class P Certificate agrees to, indemnify the Trustee, the
Certificate Registrar, the Paying Agent and the Depositor against any liability
that may result if the transfer is not so exempt or is not made in accordance
with such federal and state laws.

               No service charge will be imposed for any registration of
transfer or exchange of Class P Certificates, but the Certificate Registrar may
require payment of a sum sufficient to cover any tax or other governmental
charge that may be imposed in connection with any transfer or exchange of Class
P Certificates.

               Notwithstanding the foregoing, for so long as this Certificate is
registered in the name of Cede & Co. or in such other name as is requested by an
authorized representative of DTC, transfers of interests in this Certificate
shall be made through the book-entry facilities of DTC.

               The Depositor, the Master Servicer, the Special Servicer, the
Trustee, the Paying Agent and the Certificate Registrar and any agent of the
Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying
Agent or the Certificate Registrar may treat the Person in whose name this
Certificate is registered as the owner hereof for all purposes whatsoever and
none of the Depositor, the Master Servicer, the Special Servicer, the Trustee,
the Paying Agent, the Certificate Registrar, or any such agent shall be affected
by notice to the contrary.

               The Trust Fund and the obligations created by the Agreement shall
terminate upon distribution (or provision for distribution) to the
Certificateholders of all amounts held by or on behalf of the Trustee and
required to be distributed to them pursuant to the Agreement following the
earlier to occur of (i) the final payment (or any advance with respect thereto)
or other liquidation of the last Mortgage Loan or REO Property remaining in the
Trust Fund, and (ii) the purchase by the Master Servicer, the Special Servicer
or the Majority Subordinate Certificateholder at a price determined as provided
in the Agreement of all Mortgage Loans and each REO Property remaining in the
Trust Fund. The Agreement permits, but does not require, the Master Servicer,
the Special Servicer or the Majority Subordinate Certificateholder to purchase
from the Trust Fund all Mortgage Loans and each REO Property remaining therein.
The exercise of such right will effect early retirement of the Class P
Certificates; however, such right to purchase is subject to the aggregate Stated
Principal Balance of the Mortgage Pool at the time of purchase being less than
1% of the aggregate Stated Principal Balance of the Mortgage Loans as of the
Cut-Off Date specified on the face hereof.

               In addition, any exchange by any Certificateholder of all of the
then outstanding Certificates (other than the Class Z, Class R-I and Class R-II
Certificates) for all of the Mortgage Loans and each REO Property remaining in
the Trust Fund may be made: (i) if the then outstanding Certificates (other than
the Class Z, Class R-I and Class R-II Certificates) are held by a single
Certificateholder and (ii) the Class A-1, Class A-2, Class A-3, Class A-PB,
Class A-4, Class A-1A, Class A-M, Class A-J, Class B, Class C, Class D and Class
E Certificates have been paid in full.

               The Agreement permits, with certain exceptions therein provided,
the amendment thereof and the modification of the rights and obligations of the
Depositor, the Master Servicer, the Special Servicer and the Trustee and the
rights of the Certificateholders under the Agreement at any time by the
Depositor, the Master Servicer, the Special Servicer and the Trustee with the
consent of the Holders of Certificates entitled to at least 51% of the Voting
Rights allocated to the affected Classes. Any such consent by the Holder of this
Certificate shall be conclusive and binding on such Holder and upon all future
Holders of this Certificate and of any Certificate issued upon the transfer
hereof or in exchange herefor or in lieu hereof whether or not notation of such
consent is made upon this Certificate. The Agreement also permits the amendment
thereof, in certain limited circumstances, including any amendment necessary to
maintain the status of the Trust Fund (or designated portions thereof) as
consisting of two separate REMICs and one grantor trust, without the consent of
the Holders of any of the Certificates.

               Unless the certificate of authentication hereon has been executed
by the Certificate Registrar, by manual signature, this Certificate shall not be
entitled to any benefit under the Agreement or be valid for any purpose.

               The registered Holder hereof, by its acceptance hereof, agrees
that it will look solely to the Trust Fund (to the extent of its rights therein)
for distributions hereunder.

               This Certificate shall be construed in accordance with the
internal laws of the State of New York applicable to agreements made and to be
performed in said State, and the obligations, rights and remedies of the Holder
hereof shall be determined in accordance with such laws.

<PAGE>

               IN WITNESS WHEREOF, the Certificate Registrar has caused this
Certificate to be duly executed.

Dated: December 21, 2006

                                          WELLS FARGO BANK, N.A., as Certificate
                                              Registrar

                                          By: __________________________________
                                              Authorized Representative

                          CERTIFICATE OF AUTHENTICATION

               This is one of the Class P Certificates referred to in the
within-mentioned Agreement.

                                          WELLS FARGO BANK, N.A., as
                                              Authenticating Agent

                                          By: __________________________________
                                              Authorized Representative

<PAGE>

                                   ASSIGNMENT

               FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and
transfer(s) unto ________________________________________________________
(please print or typewrite name and address including postal zip code of
assignee) the beneficial ownership interest in the Trust Fund evidenced by the
within Commercial Mortgage Pass-Through Certificate and hereby authorize(s) the
registration of transfer of such interest to assignee on the Certificate
Register of the Trust Fund.

               I (we) further direct the Certificate Registrar to issue a new
Commercial Mortgage Pass-Through Certificate of a like Percentage Interest and
Class to the above named assignee and deliver such Commercial Mortgage
Pass-Through Certificate to the following address:
_________________________________________________________________________.

Dated: _________________________

                                          ______________________________________
                                           Signature by or on behalf of Assignor

                                          ______________________________________
                                                  Signature Guaranteed

<PAGE>

                            DISTRIBUTION INSTRUCTIONS

               The Assignee should include the following for purposes of
distribution:

               Distributions shall, if permitted, be made by wire transfer or
otherwise, in immediately available funds, to _____________________________ for
the account of _______________.

               Distributions made by check (such check to be made payable to
_____________________) and all applicable statements and notices should be
mailed to _____________________________.

               This information is provided by ________________________________,
the Assignee named above, or ____________________________________, as its agent.

<PAGE>

                                 EXHIBIT A-24-1

                           FORM OF CLASS Q CERTIFICATE

              CLASS Q COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATE,
                                 SERIES 2006-C29

evidencing a beneficial ownership interest in a trust fund (the "Trust Fund")
consisting primarily of a pool of multifamily and commercial mortgage loans (the
"Mortgage Loans"), such pool being formed and sold by

                     WACHOVIA BANK COMMERCIAL MORTGAGE TRUST

Pass-Through Rate: Variable                  Class Principal Balance of the
                                             Class Q Certificates as of the
                                             Closing Date: $37,927,173

Date of Pooling and Servicing Agreement:     Initial Certificate Principal
as of December 1, 2006                       Balance of this Class Q Certificate
                                             as of the Closing Date: $37,927,173

Closing Date: December 21, 2006              Aggregate Stated Principal Balance
                                             of the Mortgage Loans as of the
                                             Cut-Off Date: $3,371,274,173

First Distribution Date: January 18, 2007

Master Servicer: Wachovia Bank, National     Trustee: Wells Fargo Bank, N.A.
Association

Special Servicer: LNR Partners, Inc.

Certificate No. Q-1                          CUSIP No. [_]

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST CORPORATION, A NEW YORK CORPORATION ("DTC"), TO THE DEPOSITOR,
THE MASTER SERVICER, THE TRUSTEE, THE CERTIFICATE REGISTRAR OR ANY AGENT THEREOF
FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED
IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO
SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY
TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON
IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
HEREIN.

THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN WACHOVIA
COMMERCIAL MORTGAGE SECURITIES, INC., WELLS FARGO BANK, N.A., LNR PARTNERS,
INC., WACHOVIA BANK, NATIONAL ASSOCIATION OR ANY OF THEIR RESPECTIVE AFFILIATES.
NEITHER THIS CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS ARE GUARANTEED BY ANY
AGENCY OR INSTRUMENTALITY OF THE UNITED STATES OR ANY OTHER PERSON.

THIS CERTIFICATE HAS NOT BEEN REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT
OF 1933 (THE "SECURITIES ACT") OR THE SECURITIES LAWS OF ANY STATE. ANY RESALE,
TRANSFER OR OTHER DISPOSITION OF THIS CERTIFICATE WITHOUT SUCH REGISTRATION OR
QUALIFICATION MAY BE MADE ONLY IN A TRANSACTION WHICH DOES NOT REQUIRE SUCH
REGISTRATION OR QUALIFICATION AND IN ACCORDANCE WITH THE PROVISIONS OF SECTION
5.02 OF THE AGREEMENT REFERRED TO HEREIN.

SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE IS A "REGULAR
INTEREST" IN A "REAL ESTATE MORTGAGE INVESTMENT CONDUIT" (A "REMIC") AS THOSE
TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL
REVENUE CODE OF 1986 (THE "CODE").

THIS CERTIFICATE IS SUBORDINATE TO THE CLASS A-1 CERTIFICATES, THE CLASS A-2
CERTIFICATES, THE CLASS A-3 CERTIFICATES, THE CLASS A-PB CERTIFICATES, THE CLASS
A-4 CERTIFICATES, THE CLASS A-1A CERTIFICATES, THE CLASS A-M CERTIFICATES, THE
CLASS A-J CERTIFICATES, THE CLASS B CERTIFICATES, THE CLASS C CERTIFICATES, THE
CLASS D CERTIFICATES, THE CLASS E CERTIFICATES, THE CLASS F CERTIFICATES, THE
CLASS G CERTIFICATES, THE CLASS H CERTIFICATES, THE CLASS J CERTIFICATES, THE
CLASS K CERTIFICATES, THE CLASS L CERTIFICATES, THE CLASS M CERTIFICATES, THE
CLASS N CERTIFICATES, THE CLASS O CERTIFICATES AND THE CLASS P CERTIFICATES OF
THE SAME SERIES TO THE EXTENT DESCRIBED IN THE AGREEMENT REFERRED TO HEREIN.

NO TRANSFER OF THIS CERTIFICATE OR ANY INTEREST THEREIN SHALL BE MADE TO ANY
"EMPLOYEE BENEFIT PLAN" SUBJECT TO TITLE I OF ERISA OR A "PLAN" DESCRIBED BY
SECTION 4975(E)(1) OF THE CODE OR ANY OTHER RETIREMENT PLAN OR OTHER EMPLOYEE
BENEFIT PLAN OR ARRANGEMENT SUBJECT TO ANY FEDERAL, STATE OR LOCAL LAW
MATERIALLY SIMILAR TO THE FOREGOING PROVISIONS OF ERISA AND THE CODE, OR ANY
ENTITY DEEMED TO HOLD PLAN ASSETS OF THE FOREGOING BY REASON OF A PLAN'S
INVESTMENT IN SUCH ENTITY (EACH, A "PLAN") UNLESS IT IS AN INSURANCE COMPANY
GENERAL ACCOUNT WHICH IS ELIGIBLE FOR, AND SATISFIES ALL OF THE REQUIREMENTS
FOR, EXEMPTIVE RELIEF UNDER SECTIONS I AND III OF DEPARTMENT OF LABOR PROHIBITED
TRANSACTION CLASS EXEMPTION 95-60. EACH PERSON WHO ACQUIRES THIS CERTIFICATE
SHALL BE REQUIRED (OR, IN THE CASE OF A BOOK-ENTRY CERTIFICATE, DEEMED) TO HAVE
CERTIFIED THAT THE FOREGOING CONDITIONS ARE SATISFIED, AND THAT IT WILL NOT
TRANSFER THIS CERTIFICATE IN VIOLATION OF THE FOREGOING.

IF THE AGGREGATE CERTIFICATE PRINCIPAL BALANCE OF THE CLASS A-1 CERTIFICATES,
THE CLASS A-2 CERTIFICATES, THE CLASS A-3 CERTIFICATES, THE CLASS A-PB
CERTIFICATES, THE CLASS A-4 CERTIFICATES, THE CLASS A-1A CERTIFICATES, THE CLASS
A-M CERTIFICATES, THE CLASS A-J CERTIFICATES, THE CLASS B CERTIFICATES, THE
CLASS C CERTIFICATES, THE CLASS D CERTIFICATES, THE CLASS E CERTIFICATES, THE
CLASS F CERTIFICATES, THE CLASS G CERTIFICATES, THE CLASS H CERTIFICATES, THE
CLASS J CERTIFICATES, THE CLASS K CERTIFICATES, THE CLASS L CERTIFICATES, THE
CLASS M CERTIFICATES, THE CLASS N CERTIFICATES, THE CLASS O CERTIFICATES AND THE
CLASS P CERTIFICATES OF THE SAME SERIES IS REDUCED TO ZERO, DISTRIBUTIONS IN
REDUCTION OF THE CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE MAY BE MADE
MONTHLY AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.
IN ADDITION, THE CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE MAY BE
REDUCED BY CERTAIN LOSSES AND EXPENSES EXPERIENCED BY THE TRUST FUND AS SET
FORTH IN THE AGREEMENT REFERRED TO HEREIN. ACCORDINGLY, THE OUTSTANDING
CERTIFICATE PRINCIPAL BALANCE HEREOF AT ANY TIME MAY BE LESS THAN THE AMOUNT
SHOWN ABOVE.

               This certifies that Cede & Co. is the registered owner of the
Percentage Interest evidenced by this Class Q Certificate (obtained by dividing
the principal amount of this Class Q Certificate (its "Certificate Principal
Balance") as of the Closing Date by the aggregate principal amount of all the
Class Q Certificates (their "Class Principal Balance") as of the Closing Date)
in that certain beneficial ownership interest evidenced by all the Class Q
Certificates in the Trust Fund created pursuant to a Pooling and Servicing
Agreement, dated as specified above (the "Agreement"), among Wachovia Commercial
Mortgage Securities, Inc. (herein called the "Depositor", which term includes
any successor entity under the Agreement), Wachovia Bank, National Association
(herein called the "Master Servicer", which term includes any successor entity
under the Agreement), LNR Partners, Inc. (herein called the "Special Servicer",
which term includes any successor entity under the Agreement) and Wells Fargo
Bank, N.A. (herein called the "Trustee", which term includes any successor
entity under the Agreement), a summary of certain of the pertinent provisions of
which is set forth hereafter. To the extent not defined herein, the capitalized
terms used herein have the respective meanings assigned in the Agreement. This
Certificate is issued under and is subject to the terms, provisions and
conditions of the Agreement, to which Agreement the Holder of this Certificate
by virtue of the acceptance hereof assents and by which such Holder is bound.

               Pursuant to the terms of the Agreement, distributions will be
made on the fourth Business Day following the related Determination Date (each,
a "Distribution Date"). The Determination Date is the 11th day of each month or,
if such 11th day is not a Business Day, the Business Day immediately succeeding,
commencing in January 2007 (each, a "Determination Date"). Distributions will be
made commencing on the first Distribution Date specified above, to the Person in
whose name this Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such distribution
(the "Record Date"), in an amount equal to the product of the Percentage
Interest evidenced by this Certificate and the amount required to be distributed
to the Holders of the Class Q Certificates on the applicable Distribution Date
pursuant to the Agreement. All distributions made under the Agreement on the
Class Q Certificates will be made by Wells Fargo Bank, N.A., as paying agent
(the "Paying Agent"), by wire transfer of immediately available funds to the
account of the Person entitled thereto at a bank or other entity having
appropriate facilities therefor, if such Certificateholder shall have provided
the Paying Agent with wiring instructions no less than five Business Days prior
to the related Record Date (which wiring instructions may be in the form of a
standing order applicable to all subsequent distributions), or otherwise by
check mailed to the address of such Certificateholder as it appears in the
Certificate Register. Notwithstanding the foregoing, the final distribution on
this Certificate (determined without regard to any possible future reimbursement
of any Realized Loss or Additional Trust Fund Expense previously allocated to
this Certificate) will be made in like manner, but only upon presentation and
surrender of this Certificate at the offices of the Certificate Registrar or
such other location specified in the notice to the Holder hereof of such final
distribution. Also notwithstanding the foregoing, any distribution that may be
made with respect to this Certificate in reimbursement of any Realized Loss or
Additional Trust Fund Expense previously allocated to this Certificate, which
reimbursement is to occur after the date on which this Certificate is
surrendered as contemplated by the preceding sentence, will be made by check
mailed to the address of the Holder that surrenders this Certificate as such
address last appears in the Certificate Register or to any such other address of
which the Paying Agent is subsequently notified in writing.

               The Certificates are limited in right of distribution to certain
collections and recoveries respecting the Mortgage Loans and REO Loans, all as
more specifically set forth herein and in the Agreement. As provided in the
Agreement, withdrawals from the Certificate Account, the Distribution Account
and, if established, the REO Account may be made from time to time for purposes
other than, and, in certain cases, prior to, distributions to
Certificateholders, such purposes including the reimbursement of Advances made,
or certain expenses incurred, with respect to the Mortgage Loans and the payment
of interest on such Advances and expenses.

               Interest accrued on this Certificate during an Interest Accrual
Period, plus any unpaid interest shortfall with respect to this Certificate for
any prior Distribution Date, if any, will be payable on the related Distribution
Date to the extent provided in the Agreement. The "Interest Accrual Period" with
respect to any Distribution Date and with respect to the Class Q Certificates is
the calendar month preceding the month in which such Distribution Date occurs
and is assumed to consist of 30 days.

               Any distribution to the Holder of this Certificate in reduction
of the Certificate Principal Balance hereof is binding on such Holder and all
future Holders of this Certificate and any Certificate issued upon the transfer
hereof or in exchange herefor or in lieu hereof whether or not notation of such
distribution is made upon this Certificate.

               The Class Q Certificates are issuable in fully registered form
only without coupons in minimum denominations specified in the Agreement. As
provided in the Agreement and subject to certain limitations therein set forth,
the Class Q Certificates are exchangeable for new Class Q Certificates in
authorized denominations evidencing the same aggregate Percentage Interest, as
requested by the Holder surrendering the same.

               As provided in the Agreement and subject to certain limitations
therein set forth, the transfer of this Certificate is registrable in the
Certificate Register upon surrender of this Certificate for registration of
transfer at the offices of the Certificate Registrar, duly endorsed by, or
accompanied by a written instrument of transfer in the form satisfactory to the
Certificate Registrar duly executed by, the Holder hereof or his attorney duly
authorized in writing, and thereupon one or more new Class Q Certificates in
authorized denominations evidencing the same aggregate Percentage Interest will
be issued to the designated transferee or transferees.

               No transfer of any Class Q Certificate shall be made unless that
transfer is made pursuant to an effective registration statement under the
Securities Act, and effective registration or qualification under applicable
state securities laws, or is made in a transaction which does not require such
registration or qualification. If such a transfer is to be made without
registration under the Securities Act (other than in connection with the initial
issuance thereof or the initial transfer thereof by the Depositor, the Initial
Purchaser or their respective affiliates), then the Certificate Registrar shall
refuse to register such transfer unless it receives either: (i) a certificate
from the Certificateholder desiring to effect such transfer substantially in the
form attached as Exhibit F-1 to the Agreement, and a certificate from such
Certificateholder's prospective transferee substantially in the form attached as
either Exhibit F-2, Exhibit F-3, Exhibit F-4, Exhibit F-5 or Exhibit F-6 to the
Agreement; or (ii) an Opinion of Counsel reasonably satisfactory to the
Certificate Registrar to the effect that such transfer may be made without
registration under the Securities Act (which Opinion of Counsel shall not be an
expense of the Trust Fund or of the Depositor, the Master Servicer, the Special
Servicer, the Trustee, the Paying Agent or the Certificate Registrar in their
respective capacities as such), together with the written certification(s) as to
the facts surrounding such transfer from the Certificateholder desiring to
effect such transfer and/or such Certificateholder's prospective transferee on
which such Opinion of Counsel is based. None of the Depositor, the Trustee,
Paying Agent or the Certificate Registrar is obligated to register or qualify
the Class Q Certificates under the Securities Act or any other securities law or
to take any action not otherwise required under the Agreement to permit the
transfer of any Class Q Certificate without registration or qualification. Any
Class Q Certificateholder desiring to effect such a transfer shall, and by the
acceptance of its Class Q Certificate agrees to, indemnify the Trustee, the
Certificate Registrar, the Paying Agent and the Depositor against any liability
that may result if the transfer is not so exempt or is not made in accordance
with such federal and state laws.

               No service charge will be imposed for any registration of
transfer or exchange of Class Q Certificates, but the Certificate Registrar may
require payment of a sum sufficient to cover any tax or other governmental
charge that may be imposed in connection with any transfer or exchange of Class
Q Certificates.

               Notwithstanding the foregoing, for so long as this Certificate is
registered in the name of Cede & Co. or in such other name as is requested by an
authorized representative of DTC, transfers of interests in this Certificate
shall be made through the book-entry facilities of DTC.

               The Depositor, the Master Servicer, the Special Servicer, the
Trustee, the Paying Agent and the Certificate Registrar and any agent of the
Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying
Agent or the Certificate Registrar may treat the Person in whose name this
Certificate is registered as the owner hereof for all purposes whatsoever and
none of the Depositor, the Master Servicer, the Special Servicer, the Trustee,
the Paying Agent, the Certificate Registrar, or any such agent shall be affected
by notice to the contrary.

               The Trust Fund and the obligations created by the Agreement shall
terminate upon distribution (or provision for distribution) to the
Certificateholders of all amounts held by or on behalf of the Trustee and
required to be distributed to them pursuant to the Agreement following the
earlier to occur of (i) the final payment (or any advance with respect thereto)
or other liquidation of the last Mortgage Loan or REO Property remaining in the
Trust Fund, and (ii) the purchase by the Master Servicer, the Special Servicer
or the Majority Subordinate Certificateholder at a price determined as provided
in the Agreement of all Mortgage Loans and each REO Property remaining in the
Trust Fund. The Agreement permits, but does not require, the Master Servicer,
the Special Servicer or the Majority Subordinate Certificateholder to purchase
from the Trust Fund all Mortgage Loans and each REO Property remaining therein.
The exercise of such right will effect early retirement of the Class Q
Certificates; however, such right to purchase is subject to the aggregate Stated
Principal Balance of the Mortgage Pool at the time of purchase being less than
1% of the aggregate Stated Principal Balance of the Mortgage Loans as of the
Cut-Off Date specified on the face hereof.

               In addition, any exchange by any Certificateholder of all of the
then outstanding Certificates (other than the Class Z, Class R-I and Class R-II
Certificates) for all of the Mortgage Loans and each REO Property remaining in
the Trust Fund may be made: (i) if the then outstanding Certificates (other than
the Class Z, Class R-I and Class R-II Certificates) are held by a single
Certificateholder and (ii) the Class A-1, Class A-2, Class A-3, Class A-PB,
Class A-4, Class A-1A, Class A-M, Class A-J, Class B, Class C, Class D and Class
E Certificates have been paid in full.

               The Agreement permits, with certain exceptions therein provided,
the amendment thereof and the modification of the rights and obligations of the
Depositor, the Master Servicer, the Special Servicer and the Trustee and the
rights of the Certificateholders under the Agreement at any time by the
Depositor, the Master Servicer, the Special Servicer and the Trustee with the
consent of the Holders of Certificates entitled to at least 51% of the Voting
Rights allocated to the affected Classes. Any such consent by the Holder of this
Certificate shall be conclusive and binding on such Holder and upon all future
Holders of this Certificate and of any Certificate issued upon the transfer
hereof or in exchange herefor or in lieu hereof whether or not notation of such
consent is made upon this Certificate. The Agreement also permits the amendment
thereof, in certain limited circumstances, including any amendment necessary to
maintain the status of the Trust Fund (or designated portions thereof) as
consisting of two separate REMICs and one grantor trust, without the consent of
the Holders of any of the Certificates.

               Unless the certificate of authentication hereon has been executed
by the Certificate Registrar, by manual signature, this Certificate shall not be
entitled to any benefit under the Agreement or be valid for any purpose.

               The registered Holder hereof, by its acceptance hereof, agrees
that it will look solely to the Trust Fund (to the extent of its rights therein)
for distributions hereunder.

               This Certificate shall be construed in accordance with the
internal laws of the State of New York applicable to agreements made and to be
performed in said State, and the obligations, rights and remedies of the Holder
hereof shall be determined in accordance with such laws.

<PAGE>

               IN WITNESS WHEREOF, the Certificate Registrar has caused this
Certificate to be duly executed.

Dated: December 21, 2006

                                          WELLS FARGO BANK, N.A., as Certificate
                                              Registrar

                                          By: __________________________________
                                              Authorized Representative

                          CERTIFICATE OF AUTHENTICATION

               This is one of the Class Q Certificates referred to in the
within-mentioned Agreement.

                                          WELLS FARGO BANK, N.A., as
                                              Authenticating Agent

                                          By: __________________________________
                                              Authorized Representative

<PAGE>

                                   ASSIGNMENT

               FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and
transfer(s) unto ________________________________________________________
(please print or typewrite name and address including postal zip code of
assignee) the beneficial ownership interest in the Trust Fund evidenced by the
within Commercial Mortgage Pass-Through Certificate and hereby authorize(s) the
registration of transfer of such interest to assignee on the Certificate
Register of the Trust Fund.

               I (we) further direct the Certificate Registrar to issue a new
Commercial Mortgage Pass-Through Certificate of a like Percentage Interest and
Class to the above named assignee and deliver such Commercial Mortgage
Pass-Through Certificate to the following address:
_________________________________________________________________________.

Dated: _________________________

                                          ______________________________________
                                           Signature by or on behalf of Assignor

                                          ______________________________________
                                                  Signature Guaranteed

<PAGE>

                            DISTRIBUTION INSTRUCTIONS

               The Assignee should include the following for purposes of
distribution:

               Distributions shall, if permitted, be made by wire transfer or
otherwise, in immediately available funds, to _____________________________ for
the account of _______________.

               Distributions made by check (such check to be made payable to
_____________________) and all applicable statements and notices should be
mailed to _____________________________.

               This information is provided by ________________________________,
the Assignee named above, or ____________________________________, as its agent.

<PAGE>

                                 EXHIBIT A-24-2

                           FORM OF CLASS Q CERTIFICATE

              CLASS Q COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATE,
                                 SERIES 2006-C29

evidencing a beneficial ownership interest in a trust fund (the "Trust Fund")
consisting primarily of a pool of multifamily and commercial mortgage loans (the
"Mortgage Loans"), such pool being formed and sold by

                     WACHOVIA BANK COMMERCIAL MORTGAGE TRUST

Pass-Through Rate: Variable                  Class Principal Balance of the
                                             Class Q Certificates as of the
                                             Closing Date: $37,927,173

Date of Pooling and Servicing Agreement:     Initial Certificate Principal
as of December 1, 2006                       Balance of this Class Q Certificate
                                             as of the Closing Date: $0

Closing Date: December 21, 2006              Aggregate Stated Principal Balance
                                             of the Mortgage Loans as of the
                                             Cut-Off Date: $3,371,274,173

First Distribution Date: January 18, 2007

Master Servicer: Wachovia Bank, National     Trustee: Wells Fargo Bank, N.A.
Association

Special Servicer: LNR Partners, Inc.

Certificate No. Q-2                          CUSIP No. [_]

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST CORPORATION, A NEW YORK CORPORATION ("DTC"), TO THE DEPOSITOR,
THE MASTER SERVICER, THE TRUSTEE, THE CERTIFICATE REGISTRAR OR ANY AGENT THEREOF
FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED
IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO
SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY
TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON
IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
HEREIN.

THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN WACHOVIA
COMMERCIAL MORTGAGE SECURITIES, INC., WELLS FARGO BANK, N.A., LNR PARTNERS,
INC., WACHOVIA BANK, NATIONAL ASSOCIATION OR ANY OF THEIR RESPECTIVE AFFILIATES.
NEITHER THIS CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS ARE GUARANTEED BY ANY
AGENCY OR INSTRUMENTALITY OF THE UNITED STATES OR ANY OTHER PERSON.

THIS CERTIFICATE HAS NOT BEEN REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT
OF 1933 (THE "SECURITIES ACT") OR THE SECURITIES LAWS OF ANY STATE. ANY RESALE,
TRANSFER OR OTHER DISPOSITION OF THIS CERTIFICATE WITHOUT SUCH REGISTRATION OR
QUALIFICATION MAY BE MADE ONLY IN A TRANSACTION WHICH DOES NOT REQUIRE SUCH
REGISTRATION OR QUALIFICATION AND IN ACCORDANCE WITH THE PROVISIONS OF SECTION
5.02 OF THE AGREEMENT REFERRED TO HEREIN.

SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE IS A "REGULAR
INTEREST" IN A "REAL ESTATE MORTGAGE INVESTMENT CONDUIT" (A "REMIC") AS THOSE
TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL
REVENUE CODE OF 1986 (THE "CODE").

THIS CERTIFICATE IS SUBORDINATE TO THE CLASS A-1 CERTIFICATES, THE CLASS A-2
CERTIFICATES, THE CLASS A-3 CERTIFICATES, THE CLASS A-PB CERTIFICATES, THE CLASS
A-4 CERTIFICATES, THE CLASS A-1A CERTIFICATES, THE CLASS A-M CERTIFICATES, THE
CLASS A-J CERTIFICATES, THE CLASS B CERTIFICATES, THE CLASS C CERTIFICATES, THE
CLASS D CERTIFICATES, THE CLASS E CERTIFICATES, THE CLASS F CERTIFICATES, THE
CLASS G CERTIFICATES, THE CLASS H CERTIFICATES, THE CLASS J CERTIFICATES, THE
CLASS K CERTIFICATES, THE CLASS L CERTIFICATES, THE CLASS M CERTIFICATES, THE
CLASS N CERTIFICATES, THE CLASS O CERTIFICATES AND THE CLASS P CERTIFICATES OF
THE SAME SERIES TO THE EXTENT DESCRIBED IN THE AGREEMENT REFERRED TO HEREIN.

NO TRANSFER OF THIS CERTIFICATE OR ANY INTEREST THEREIN SHALL BE MADE TO ANY
"EMPLOYEE BENEFIT PLAN" SUBJECT TO TITLE I OF ERISA OR A "PLAN" DESCRIBED BY
SECTION 4975(E)(1) OF THE CODE OR ANY OTHER RETIREMENT PLAN OR OTHER EMPLOYEE
BENEFIT PLAN OR ARRANGEMENT SUBJECT TO ANY FEDERAL, STATE OR LOCAL LAW
MATERIALLY SIMILAR TO THE FOREGOING PROVISIONS OF ERISA AND THE CODE, OR ANY
ENTITY DEEMED TO HOLD PLAN ASSETS OF THE FOREGOING BY REASON OF A PLAN'S
INVESTMENT IN SUCH ENTITY (EACH, A "PLAN") UNLESS IT IS AN INSURANCE COMPANY
GENERAL ACCOUNT WHICH IS ELIGIBLE FOR, AND SATISFIES ALL OF THE REQUIREMENTS
FOR, EXEMPTIVE RELIEF UNDER SECTIONS I AND III OF DEPARTMENT OF LABOR PROHIBITED
TRANSACTION CLASS EXEMPTION 95-60. EACH PERSON WHO ACQUIRES THIS CERTIFICATE
SHALL BE REQUIRED (OR, IN THE CASE OF A BOOK-ENTRY CERTIFICATE, DEEMED) TO HAVE
CERTIFIED THAT THE FOREGOING CONDITIONS ARE SATISFIED, AND THAT IT WILL NOT
TRANSFER THIS CERTIFICATE IN VIOLATION OF THE FOREGOING.

IF THE AGGREGATE CERTIFICATE PRINCIPAL BALANCE OF THE CLASS A-1 CERTIFICATES,
THE CLASS A-2 CERTIFICATES, THE CLASS A-3 CERTIFICATES, THE CLASS A-PB
CERTIFICATES, THE CLASS A-4 CERTIFICATES, THE CLASS A-1A CERTIFICATES, THE CLASS
A-M CERTIFICATES, THE CLASS A-J CERTIFICATES, THE CLASS B CERTIFICATES, THE
CLASS C CERTIFICATES, THE CLASS D CERTIFICATES, THE CLASS E CERTIFICATES, THE
CLASS F CERTIFICATES, THE CLASS G CERTIFICATES, THE CLASS H CERTIFICATES, THE
CLASS J CERTIFICATES, THE CLASS K CERTIFICATES, THE CLASS L CERTIFICATES, THE
CLASS M CERTIFICATES, THE CLASS N CERTIFICATES, THE CLASS O CERTIFICATES AND THE
CLASS P CERTIFICATES OF THE SAME SERIES IS REDUCED TO ZERO, DISTRIBUTIONS IN
REDUCTION OF THE CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE MAY BE MADE
MONTHLY AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.
IN ADDITION, THE CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE MAY BE
REDUCED BY CERTAIN LOSSES AND EXPENSES EXPERIENCED BY THE TRUST FUND AS SET
FORTH IN THE AGREEMENT REFERRED TO HEREIN. ACCORDINGLY, THE OUTSTANDING
CERTIFICATE PRINCIPAL BALANCE HEREOF AT ANY TIME MAY BE LESS THAN THE AMOUNT
SHOWN ABOVE.

               This certifies that Cede & Co. is the registered owner of the
Percentage Interest evidenced by this Class Q Certificate (obtained by dividing
the principal amount of this Class Q Certificate (its "Certificate Principal
Balance") as of the Closing Date by the aggregate principal amount of all the
Class Q Certificates (their "Class Principal Balance") as of the Closing Date)
in that certain beneficial ownership interest evidenced by all the Class Q
Certificates in the Trust Fund created pursuant to a Pooling and Servicing
Agreement, dated as specified above (the "Agreement"), among Wachovia Commercial
Mortgage Securities, Inc. (herein called the "Depositor", which term includes
any successor entity under the Agreement), Wachovia Bank, National Association
(herein called the "Master Servicer", which term includes any successor entity
under the Agreement), LNR Partners, Inc. (herein called the "Special Servicer",
which term includes any successor entity under the Agreement) and Wells Fargo
Bank, N.A. (herein called the "Trustee", which term includes any successor
entity under the Agreement), a summary of certain of the pertinent provisions of
which is set forth hereafter. To the extent not defined herein, the capitalized
terms used herein have the respective meanings assigned in the Agreement. This
Certificate is issued under and is subject to the terms, provisions and
conditions of the Agreement, to which Agreement the Holder of this Certificate
by virtue of the acceptance hereof assents and by which such Holder is bound.

               Pursuant to the terms of the Agreement, distributions will be
made on the fourth Business Day following the related Determination Date (each,
a "Distribution Date"). The Determination Date is the 11th day of each month or,
if such 11th day is not a Business Day, the Business Day immediately succeeding,
commencing in January 2007 (each, a "Determination Date"). Distributions will be
made commencing on the first Distribution Date specified above, to the Person in
whose name this Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such distribution
(the "Record Date"), in an amount equal to the product of the Percentage
Interest evidenced by this Certificate and the amount required to be distributed
to the Holders of the Class Q Certificates on the applicable Distribution Date
pursuant to the Agreement. All distributions made under the Agreement on the
Class Q Certificates will be made by Wells Fargo Bank, N.A., as paying agent
(the "Paying Agent"), by wire transfer of immediately available funds to the
account of the Person entitled thereto at a bank or other entity having
appropriate facilities therefor, if such Certificateholder shall have provided
the Paying Agent with wiring instructions no less than five Business Days prior
to the related Record Date (which wiring instructions may be in the form of a
standing order applicable to all subsequent distributions), or otherwise by
check mailed to the address of such Certificateholder as it appears in the
Certificate Register. Notwithstanding the foregoing, the final distribution on
this Certificate (determined without regard to any possible future reimbursement
of any Realized Loss or Additional Trust Fund Expense previously allocated to
this Certificate) will be made in like manner, but only upon presentation and
surrender of this Certificate at the offices of the Certificate Registrar or
such other location specified in the notice to the Holder hereof of such final
distribution. Also notwithstanding the foregoing, any distribution that may be
made with respect to this Certificate in reimbursement of any Realized Loss or
Additional Trust Fund Expense previously allocated to this Certificate, which
reimbursement is to occur after the date on which this Certificate is
surrendered as contemplated by the preceding sentence, will be made by check
mailed to the address of the Holder that surrenders this Certificate as such
address last appears in the Certificate Register or to any such other address of
which the Paying Agent is subsequently notified in writing.

               The Certificates are limited in right of distribution to certain
collections and recoveries respecting the Mortgage Loans and REO Loans, all as
more specifically set forth herein and in the Agreement. As provided in the
Agreement, withdrawals from the Certificate Account, the Distribution Account
and, if established, the REO Account may be made from time to time for purposes
other than, and, in certain cases, prior to, distributions to
Certificateholders, such purposes including the reimbursement of Advances made,
or certain expenses incurred, with respect to the Mortgage Loans and the payment
of interest on such Advances and expenses.

               Interest accrued on this Certificate during an Interest Accrual
Period, plus any unpaid interest shortfall with respect to this Certificate for
any prior Distribution Date, if any, will be payable on the related Distribution
Date to the extent provided in the Agreement. The "Interest Accrual Period" with
respect to any Distribution Date and with respect to the Class Q Certificates is
the calendar month preceding the month in which such Distribution Date occurs
and is assumed to consist of 30 days.

               Any distribution to the Holder of this Certificate in reduction
of the Certificate Principal Balance hereof is binding on such Holder and all
future Holders of this Certificate and any Certificate issued upon the transfer
hereof or in exchange herefor or in lieu hereof whether or not notation of such
distribution is made upon this Certificate.

               The Class Q Certificates are issuable in fully registered form
only without coupons in minimum denominations specified in the Agreement. As
provided in the Agreement and subject to certain limitations therein set forth,
the Class Q Certificates are exchangeable for new Class Q Certificates in
authorized denominations evidencing the same aggregate Percentage Interest, as
requested by the Holder surrendering the same.

               As provided in the Agreement and subject to certain limitations
therein set forth, the transfer of this Certificate is registrable in the
Certificate Register upon surrender of this Certificate for registration of
transfer at the offices of the Certificate Registrar, duly endorsed by, or
accompanied by a written instrument of transfer in the form satisfactory to the
Certificate Registrar duly executed by, the Holder hereof or his attorney duly
authorized in writing, and thereupon one or more new Class Q Certificates in
authorized denominations evidencing the same aggregate Percentage Interest will
be issued to the designated transferee or transferees.

               No transfer of any Class Q Certificate shall be made unless that
transfer is made pursuant to an effective registration statement under the
Securities Act, and effective registration or qualification under applicable
state securities laws, or is made in a transaction which does not require such
registration or qualification. If such a transfer is to be made without
registration under the Securities Act (other than in connection with the initial
issuance thereof or the initial transfer thereof by the Depositor, the Initial
Purchaser or their respective affiliates), then the Certificate Registrar shall
refuse to register such transfer unless it receives either: (i) a certificate
from the Certificateholder desiring to effect such transfer substantially in the
form attached as Exhibit F-1 to the Agreement, and a certificate from such
Certificateholder's prospective transferee substantially in the form attached as
either Exhibit F-2, Exhibit F-3, Exhibit F-4, Exhibit F-5 or Exhibit F-6 to the
Agreement; or (ii) an Opinion of Counsel reasonably satisfactory to the
Certificate Registrar to the effect that such transfer may be made without
registration under the Securities Act (which Opinion of Counsel shall not be an
expense of the Trust Fund or of the Depositor, the Master Servicer, the Special
Servicer, the Trustee, the Paying Agent or the Certificate Registrar in their
respective capacities as such), together with the written certification(s) as to
the facts surrounding such transfer from the Certificateholder desiring to
effect such transfer and/or such Certificateholder's prospective transferee on
which such Opinion of Counsel is based. None of the Depositor, the Trustee,
Paying Agent or the Certificate Registrar is obligated to register or qualify
the Class Q Certificates under the Securities Act or any other securities law or
to take any action not otherwise required under the Agreement to permit the
transfer of any Class Q Certificate without registration or qualification. Any
Class Q Certificateholder desiring to effect such a transfer shall, and by the
acceptance of its Class Q Certificate agrees to, indemnify the Trustee, the
Certificate Registrar, the Paying Agent and the Depositor against any liability
that may result if the transfer is not so exempt or is not made in accordance
with such federal and state laws.

               No service charge will be imposed for any registration of
transfer or exchange of Class Q Certificates, but the Certificate Registrar may
require payment of a sum sufficient to cover any tax or other governmental
charge that may be imposed in connection with any transfer or exchange of Class
Q Certificates.

               Notwithstanding the foregoing, for so long as this Certificate is
registered in the name of Cede & Co. or in such other name as is requested by an
authorized representative of DTC, transfers of interests in this Certificate
shall be made through the book-entry facilities of DTC.

               The Depositor, the Master Servicer, the Special Servicer, the
Trustee, the Paying Agent and the Certificate Registrar and any agent of the
Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying
Agent or the Certificate Registrar may treat the Person in whose name this
Certificate is registered as the owner hereof for all purposes whatsoever and
none of the Depositor, the Master Servicer, the Special Servicer, the Trustee,
the Paying Agent, the Certificate Registrar, or any such agent shall be affected
by notice to the contrary.

               The Trust Fund and the obligations created by the Agreement shall
terminate upon distribution (or provision for distribution) to the
Certificateholders of all amounts held by or on behalf of the Trustee and
required to be distributed to them pursuant to the Agreement following the
earlier to occur of (i) the final payment (or any advance with respect thereto)
or other liquidation of the last Mortgage Loan or REO Property remaining in the
Trust Fund, and (ii) the purchase by the Master Servicer, the Special Servicer
or the Majority Subordinate Certificateholder at a price determined as provided
in the Agreement of all Mortgage Loans and each REO Property remaining in the
Trust Fund. The Agreement permits, but does not require, the Master Servicer,
the Special Servicer or the Majority Subordinate Certificateholder to purchase
from the Trust Fund all Mortgage Loans and each REO Property remaining therein.
The exercise of such right will effect early retirement of the Class Q
Certificates; however, such right to purchase is subject to the aggregate Stated
Principal Balance of the Mortgage Pool at the time of purchase being less than
1% of the aggregate Stated Principal Balance of the Mortgage Loans as of the
Cut-Off Date specified on the face hereof.

               In addition, any exchange by any Certificateholder of all of the
then outstanding Certificates (other than the Class Z, Class R-I and Class R-II
Certificates) for all of the Mortgage Loans and each REO Property remaining in
the Trust Fund may be made: (i) if the then outstanding Certificates (other than
the Class Z, Class R-I and Class R-II Certificates) are held by a single
Certificateholder and (ii) the Class A-1, Class A-2, Class A-3, Class A-PB,
Class A-4, Class A-1A, Class A-M, Class A-J, Class B, Class C, Class D and Class
E Certificates have been paid in full.

               The Agreement permits, with certain exceptions therein provided,
the amendment thereof and the modification of the rights and obligations of the
Depositor, the Master Servicer, the Special Servicer and the Trustee and the
rights of the Certificateholders under the Agreement at any time by the
Depositor, the Master Servicer, the Special Servicer and the Trustee with the
consent of the Holders of Certificates entitled to at least 51% of the Voting
Rights allocated to the affected Classes. Any such consent by the Holder of this
Certificate shall be conclusive and binding on such Holder and upon all future
Holders of this Certificate and of any Certificate issued upon the transfer
hereof or in exchange herefor or in lieu hereof whether or not notation of such
consent is made upon this Certificate. The Agreement also permits the amendment
thereof, in certain limited circumstances, including any amendment necessary to
maintain the status of the Trust Fund (or designated portions thereof) as
consisting of two separate REMICs and one grantor trust, without the consent of
the Holders of any of the Certificates.

               Unless the certificate of authentication hereon has been executed
by the Certificate Registrar, by manual signature, this Certificate shall not be
entitled to any benefit under the Agreement or be valid for any purpose.

               The registered Holder hereof, by its acceptance hereof, agrees
that it will look solely to the Trust Fund (to the extent of its rights therein)
for distributions hereunder.

               This Certificate shall be construed in accordance with the
internal laws of the State of New York applicable to agreements made and to be
performed in said State, and the obligations, rights and remedies of the Holder
hereof shall be determined in accordance with such laws.

<PAGE>

               IN WITNESS WHEREOF, the Certificate Registrar has caused this
Certificate to be duly executed.

Dated: December 21, 2006

                                          WELLS FARGO BANK, N.A., as Certificate
                                              Registrar

                                          By: __________________________________
                                              Authorized Representative

                          CERTIFICATE OF AUTHENTICATION

               This is one of the Class Q Certificates referred to in the
within-mentioned Agreement.

                                          WELLS FARGO BANK, N.A., as
                                              Authenticating Agent

                                          By: __________________________________
                                              Authorized Representative

<PAGE>

                                   ASSIGNMENT

               FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and
transfer(s) unto ________________________________________________________
(please print or typewrite name and address including postal zip code of
assignee) the beneficial ownership interest in the Trust Fund evidenced by the
within Commercial Mortgage Pass-Through Certificate and hereby authorize(s) the
registration of transfer of such interest to assignee on the Certificate
Register of the Trust Fund.

               I (we) further direct the Certificate Registrar to issue a new
Commercial Mortgage Pass-Through Certificate of a like Percentage Interest and
Class to the above named assignee and deliver such Commercial Mortgage
Pass-Through Certificate to the following address:
_________________________________________________________________________.

Dated: _________________________

                                          ______________________________________
                                           Signature by or on behalf of Assignor

                                          ______________________________________
                                                  Signature Guaranteed

<PAGE>

                            DISTRIBUTION INSTRUCTIONS

               The Assignee should include the following for purposes of
distribution:

               Distributions shall, if permitted, be made by wire transfer or
otherwise, in immediately available funds, to _____________________________ for
the account of _______________.

               Distributions made by check (such check to be made payable to
_____________________) and all applicable statements and notices should be
mailed to _____________________________.

               This information is provided by ________________________________,
the Assignee named above, or ____________________________________, as its agent.

<PAGE>

                                  EXHIBIT A-25

                          FORM OF CLASS R-I CERTIFICATE

             CLASS R-I COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATE,
                                 SERIES 2006-C29

evidencing a beneficial ownership interest in a trust fund (the "Trust Fund")
consisting primarily of a pool of multifamily and commercial mortgage loans (the
"Mortgage Loans"), such pool being formed and sold by

                     WACHOVIA BANK COMMERCIAL MORTGAGE TRUST

Date of Pooling and Servicing Agreement:     Percentage Interest evidenced by
December 1, 2006                             this Class R-I Certificate: 100%

Closing Date: December 21, 2006              Aggregate Stated Principal Balance
                                             of the Mortgage Loans as of the
                                             Cut-Off Date: $3,371,274,173

First Distribution Date: January 18, 2007    Trustee: Wells Fargo Bank, N.A.

Master Servicer: Wachovia Bank, National     Special Servicer: LNR Partners,
Association                                  Inc.

Certificate No. R-I-1

THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN WACHOVIA
COMMERCIAL MORTGAGE SECURITIES, INC., WELLS FARGO BANK, N.A., LNR PARTNERS,
INC., WACHOVIA BANK, NATIONAL ASSOCIATION OR ANY OF THEIR RESPECTIVE AFFILIATES.
NEITHER THIS CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS ARE GUARANTEED BY ANY
AGENCY OR INSTRUMENTALITY OF THE UNITED STATES OR ANY OTHER PERSON.

THIS CERTIFICATE IS SUBORDINATE TO THE CLASS A-1, CLASS A-2, CLASS A-3, CLASS
A-PB, CLASS A-4, CLASS A-1A, CLASS A-M, CLASS A-J, CLASS B, CLASS C, CLASS D,
CLASS E, CLASS F, CLASS G, CLASS H, CLASS J, CLASS K, CLASS L, CLASS M, CLASS N,
CLASS O, CLASS P AND CLASS Q CERTIFICATES OF THE SAME SERIES TO THE EXTENT
DESCRIBED IN THE AGREEMENT REFERRED TO HEREIN.

THIS CERTIFICATE HAS NOT BEEN REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT
OF 1933 (THE "SECURITIES ACT") OR THE SECURITIES LAWS OF ANY STATE. ANY RESALE,
TRANSFER OR OTHER DISPOSITION OF THIS CERTIFICATE WITHOUT SUCH REGISTRATION OR
QUALIFICATION MAY BE MADE ONLY IN A TRANSACTION WHICH DOES NOT REQUIRE SUCH
REGISTRATION OR QUALIFICATION AND IN ACCORDANCE WITH THE PROVISIONS OF SECTION
5.02 OF THE AGREEMENT REFERRED TO HEREIN.

NO TRANSFER OF THIS CERTIFICATE OR ANY INTEREST THEREIN SHALL BE MADE TO ANY
"EMPLOYEE BENEFIT PLAN" SUBJECT TO TITLE I OF ERISA OR A "PLAN" DESCRIBED BY
SECTION 4975(E)(1) OF THE CODE OR ANY OTHER RETIREMENT PLAN OR OTHER EMPLOYEE
BENEFIT PLAN OR ARRANGEMENT SUBJECT TO ANY FEDERAL, STATE OR LOCAL LAW
MATERIALLY SIMILAR TO THE FOREGOING PROVISIONS OF ERISA AND THE CODE, OR ANY
ENTITY DEEMED TO HOLD PLAN ASSETS OF THE FOREGOING BY REASON OF A PLAN'S
INVESTMENT IN SUCH ENTITY (EACH, A "PLAN"). EACH PERSON WHO ACQUIRES THIS
CERTIFICATE SHALL BE REQUIRED (OR, IN THE CASE OF A BOOK-ENTRY CERTIFICATE,
DEEMED) TO HAVE CERTIFIED THAT THE FOREGOING CONDITIONS ARE SATISFIED, AND THAT
IT WILL NOT TRANSFER THIS CERTIFICATE IN VIOLATION OF THE FOREGOING.

SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE IS A "RESIDUAL
INTEREST" IN A "REAL ESTATE MORTGAGE INVESTMENT CONDUIT" (A "REMIC") AS THOSE
TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE CODE.
CONSEQUENTLY, TRANSFER OF THIS CERTIFICATE IS ALSO SUBJECT TO THE ADDITIONAL TAX
RELATED TRANSFER RESTRICTIONS DESCRIBED HEREIN. IF ANY PERSON BECOMES THE
REGISTERED HOLDER OF THIS CERTIFICATE IN VIOLATION OF SUCH TRANSFER
RESTRICTIONS, SUCH REGISTRATION SHALL BE DEEMED TO BE OF NO LEGAL FORCE OR
EFFECT WHATSOEVER AND SUCH PERSON SHALL NOT BE DEEMED TO BE A CERTIFICATEHOLDER
FOR ANY PURPOSE HEREUNDER OR UNDER THE AGREEMENT REFERRED TO HEREIN, INCLUDING,
BUT NOT LIMITED TO, THE RECEIPT OF DISTRIBUTIONS ON THIS CERTIFICATE.

               This certifies that Wachovia Bank, National Association is the
registered owner of the Percentage Interest evidenced by this Class R-I
Certificate (as specified above) in that certain beneficial ownership interest
evidenced by all the Class R-I Certificates in the Trust Fund created pursuant
to a Pooling and Servicing Agreement, dated as specified above (the
"Agreement"), among Wachovia Commercial Mortgage Securities, Inc. (herein called
the "Depositor", which term includes any successor entity under the Agreement),
Wachovia Bank, National Association (herein called the "Master Servicer", which
term includes any successor entity under the Agreement), LNR Partners, Inc.
(herein called the "Special Servicer", which term includes any successor entity
under the Agreement) and Wells Fargo Bank, N.A. (herein called the "Trustee",
which term includes any successor entity under the Agreement), a summary of
certain of the pertinent provisions of which is set forth hereafter. To the
extent not defined herein, the capitalized terms used herein have the respective
meanings assigned in the Agreement. This Certificate is issued under and is
subject to the terms, provisions and conditions of the Agreement, to which
Agreement the Holder of this Certificate by virtue of the acceptance hereof
assents and by which such Holder is bound.

               Pursuant to the terms of the Agreement, distributions will be
made on the fourth Business Day following the related Determination Date (each,
a "Distribution Date"). The Determination Date is the 11th day of each month or,
if such 11th day is not a Business Day, the Business Day immediately succeeding,
commencing in January 2007 (each, a "Determination Date"). Distributions will be
made commencing on the first Distribution Date specified above, to the Person in
whose name this Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such distribution
(the "Record Date"), in an amount equal to the product of the Percentage
Interest evidenced by this Certificate and the amount, if any, required to be
distributed to the Holders of the Class R-I Certificates on the applicable
Distribution Date pursuant to the Agreement. All distributions made under the
Agreement on this Class R-I Certificate will be made by check mailed to the
address of the Person entitled thereto, as such name and address appear in the
Certificate Register. Notwithstanding the foregoing, the final distribution on
this Certificate will be made in like manner, but only upon presentation and
surrender of this Certificate at the offices of the Certificate Registrar or
such other location specified in the notice to Certificateholders of such final
distribution.

               The Certificates are limited in right of distribution to certain
collections and recoveries respecting the Mortgage Loans and REO Loans, all as
more specifically set forth herein and in the Agreement. As provided in the
Agreement, withdrawals from the Certificate Account, the Distribution Account
and, if established, the REO Account may be made from time to time for purposes
other than, and, in certain cases, prior to, distributions to
Certificateholders, such purposes including the reimbursement of Advances made,
or certain expenses incurred, with respect to the Mortgage Loans and the payment
of interest on such Advances and expenses.

               The Class R-I Certificates are issuable in fully registered form
only without coupons in minimum denominations representing Percentage Interests
specified in the Agreement. As provided in the Agreement and subject to certain
limitations therein set forth, Class R-I Certificates are exchangeable for new
Class R-I Certificates in authorized denominations evidencing the same aggregate
Percentage Interest, as requested by the Holder surrendering the same.

               As provided in the Agreement and subject to certain limitations
therein set forth, the transfer of this Certificate is registrable in the
Certificate Register upon surrender of this Certificate for registration of
transfer at the offices of the Certificate Registrar, duly endorsed by, or
accompanied by a written instrument of transfer in the form satisfactory to the
Certificate Registrar duly executed by, the Holder hereof or his attorney duly
authorized in writing, and thereupon one or more new Class R-I Certificates in
authorized denominations evidencing the same aggregate Percentage Interest will
be issued to the designated transferee or transferees.

               No transfer of any Class R-I Certificate shall be made unless
that transfer is made pursuant to an effective registration statement under the
Securities Act, and effective registration or qualification under applicable
state securities laws, or is made in a transaction which does not require such
registration or qualification. If a transfer of any R-I Certificate is to be
made without registration under the Securities Act (other than in connection
with the initial issuance thereof or the initial transfer thereof by the
Depositor or its affiliates), then the Certificate Registrar shall refuse to
register such transfer unless it receives either: (i) a certificate from the
Certificateholder desiring to effect such transfer substantially in the form
attached as Exhibit F-1 to the Agreement, and a certificate from such
Certificateholder's prospective transferee substantially in the form attached as
either Exhibit F-2, Exhibit F-3, Exhibit F-4, Exhibit F-5 or Exhibit F-6 to the
Agreement; or (ii) an Opinion of Counsel satisfactory to the Certificate
Registrar to the effect that such transfer may be made without registration
under the Securities Act (which Opinion of Counsel shall not be an expense of
the Trust Fund or of the Depositor, the Master Servicer, the Special Servicer,
the Trustee, the Paying Agent or the Certificate Registrar in their respective
capacities as such), together with the written certification(s) as to the facts
surrounding such transfer from the Certificateholder desiring to effect such
transfer and/or such Certificateholder's prospective transferee on which such
Opinion of Counsel is based. None of the Depositor, the Trustee, the Paying
Agent or the Certificate Registrar is obligated to register or qualify the Class
R-I Certificates under the Securities Act or any other securities law or to take
any action not otherwise required under the Agreement to permit the transfer of
any Class R-I Certificate without registration or qualification. Any Class R-I
Certificateholder desiring to effect such a transfer shall, and by the
acceptance of its Class R-I Certificate agrees to, indemnify the Trustee, the
Certificate Registrar, the Paying Agent and the Depositor against any liability
that may result if the transfer is not so exempt or is not made in accordance
with such federal and state laws.

               No transfer of this Class R-I Certificate or any interest therein
shall be made to (A) a Plan or (B) any Person who is directly or indirectly
purchasing the Class R-I Certificate or interest therein on behalf of, as named
fiduciary of, as trustee of, or with assets of a Plan (including, without
limitation, any insurance company using assets in its general or separate
account that may constitute assets of a Plan). As a condition to its
registration of transfer of this Class R-I Certificate, the Certificate
Registrar shall have the right to require the prospective transferee of such
Certificate, if it is not a Plan or Person described in clause (B) of the
preceding sentence, to execute a certification to that effect substantially in
the form of Exhibit H to the Agreement.

               This Certificate represents the "residual interest" in REMIC I as
defined in the Agreement. Each Person who has or who acquires any Ownership
Interest in this Certificate shall be deemed by the acceptance or acquisition of
such Ownership Interest to have agreed to be bound by the provisions of Section
5.02(d) of the Agreement and, if any purported Transferee shall become a Holder
of this Certificate in violation of the provisions of such Section 5.02(d), to
have irrevocably authorized Wells Fargo Bank, N.A., as paying agent (the "Paying
Agent"), under clause (ii)(A) of such Section 5.02(d) to deliver payments to a
Person other than such Person and to have irrevocably authorized the Certificate
Registrar under clause (ii)(B) of such Section 5.02(d) to negotiate the terms of
any mandatory sale and to execute all instruments of Transfer and to do all
other things necessary in connection with any such sale. Each Person holding or
acquiring any Ownership Interest in this Certificate must be a Permitted
Transferee and shall promptly notify the Master Servicer, the Paying Agent and
the Certificate Registrar of any change or impending change in its status as a
Permitted Transferee. In connection with any proposed Transfer of any Ownership
Interest in this Certificate, the Certificate Registrar shall require delivery
to it, and shall not register the Transfer of this Certificate until its receipt
of, an affidavit and agreement substantially in the form attached as Exhibit H-1
to the Agreement (a "Transfer Affidavit and Agreement") from the proposed
Transferee, in form and substance satisfactory to the Certificate Registrar,
representing and warranting, among other things, that such Transferee is a
Permitted Transferee, that it is not acquiring its Ownership Interest in this
Certificate as a nominee, trustee or agent for any Person that is not a
Permitted Transferee, that for so long as it retains its Ownership Interest in
this Certificate, it will endeavor to remain a Permitted Transferee, and that it
has reviewed the provisions of Section 5.02(d) of the Agreement and agrees to be
bound by them. Notwithstanding the delivery of a Transfer Affidavit and
Agreement by a proposed Transferee, if a Responsible Officer of the Certificate
Registrar has actual knowledge that the proposed Transferee is not a Permitted
Transferee, no Transfer of an Ownership Interest in this Certificate to such
proposed Transferee shall be effected. The proposed Transferee must also state
in the Transfer Affidavit and Agreement that (A) it has historically paid its
debts as they have come due and intends to continue to pay its debts as they
come due in the future, (B) it understands that it may incur tax liabilities
with respect to this certificate in excess of cash flows generated thereby, (C)
it intends to pay any taxes associated with holding this certificate as they
become due, (D) it will not cause income from this certificate to be
attributable to a foreign permanent establishment or fixed base (within the
meaning of an applicable income tax treaty) of its own or of any other person
and (E) it will not transfer this certificate to any person or entity that does
not provide a similar affidavit. Any purported transfer to a disqualified
organization or other person that is not a permitted transferee or otherwise in
violation of these restrictions shall be absolutely null and void and shall vest
no rights in any purported transferee. If this certificate represents a
"non-economic residual interest", as defined in Treasury Regulations Section
1.860E-1(c), transfers of this certificate may be disregarded for federal income
tax purposes. In order to satisfy a regulatory safe harbor under which such
transfers will not be disregarded, the transferor may be required, among other
things, to satisfy itself as to the financial condition of the proposed
transferee and either to transfer at a minimum price or to an eligible
transferee as specified in regulations.

               Each Person holding or acquiring any Ownership Interest in this
Certificate shall agree (x) to require a Transfer Affidavit and Agreement from
any other Person to whom such Person attempts to transfer its Ownership Interest
herein and (y) not to transfer its Ownership Interest unless it provides to the
Certificate Registrar a certificate substantially in the form attached as
Exhibit H-2 to the Agreement stating that, among other things, it has no actual
knowledge that such other Person is not a Permitted Transferee. Each Person
holding or acquiring an Ownership Interest in this Certificate, by purchasing
such Ownership Interest herein, agrees to give the Master Servicer and the
Paying Agent written notice that it is a "pass-through interest holder" within
the meaning of temporary Treasury Regulation Section 1.67-3T(a)(2)(i)(A)
immediately upon acquiring such Ownership Interest, if it is, or is holding such
Ownership Interest on behalf of, a "pass-through interest holder".

               The provisions of Section 5.02(d) of the Agreement may be
modified, added to or eliminated, provided that there shall have been delivered
to the Certificate Registrar and the Master Servicer the following: (a) written
confirmation from each Rating Agency to the effect that the modification of,
addition to or elimination of such provisions will not cause such Rating Agency
to qualify, downgrade or withdraw its then-current ratings of any Class of
Certificates; and (b) an Opinion of Counsel, in form and substance satisfactory
to the Certificate Registrar and the Master Servicer, obtained at the expense of
the party seeking such modification of, addition to or elimination of such
provisions (but in no event at the expense of the Trust Fund), to the effect
that such modification of, addition to or elimination of such provisions will
not cause the Trust Fund to (x) cease to qualify as two REMICs or (y) be subject
to an entity-level tax caused by the transfer of this Class R-I Certificate to a
Person which is not a Permitted Transferee, or cause a Person other than the
prospective Transferee to be subject to a REMIC-related tax caused by the
transfer of this Class R-I Certificate to a Person which is not a Permitted
Transferee.

               A "Permitted Transferee" is any Transferee of a Residual
Certificate other than a (i) Disqualified Organization, (ii) a Plan, (iii) a
Disqualified Non-United States Person, (iv) a United States Person treated as a
partnership for federal income tax purposes, any partner of which, directly or
indirectly (except through a U.S. corporation), is (or is permitted under the
related partnership agreement to be) a Disqualified Non-United States Person, or
(v) a United States Person with respect to whom income on the Residual
Certificate is allocable to a foreign permanent establishment or fixed base,
within the meaning of an applicable income tax treaty, of such Person or any
other United States Person. A "Disqualified Organization" is any of the
following: (i) the United States or a possession thereof, any State or any
political subdivision thereof, or any agency or instrumentality of any of the
foregoing (other than an instrumentality which is a corporation if all of its
activities are subject to tax and, except for FHLMC, a majority of its board of
directors is not selected by any such governmental unit), (ii) a foreign
government, international organization, or any agency or instrumentality of
either of the foregoing, (iii) any organization (except certain farmers'
cooperatives described in Section 521 of the Code) which is exempt from the tax
imposed by Chapter 1 of the Code (unless such organization is subject to the tax
imposed by Section 511 of the Code on unrelated business taxable income), (iv)
rural electric and telephone cooperatives described in Section 1381 of the Code
or (v) any other Person so designated by the Paying Agent or the Certificate
Registrar based upon an Opinion of Counsel (which shall not be an expense of the
Paying Agent) that the holding of an Ownership Interest in a Class R-I
Certificate by such Person may cause the Trust Fund or any Person having an
Ownership Interest in any Class of Certificates, other than such Person, to
incur a liability for any federal tax imposed under the Code that would not
otherwise be imposed but for the Transfer of an Ownership Interest in a Class
R-I Certificate to such Person. The terms "United States", "State" and
"international organization" shall have the meanings set forth in Section 7701
of the Code or successor provisions.

               A "Disqualified Non-United States Person" is any Non-United
States Person or agent thereof other than (i) a Non-United States Person that
holds this Certificate in connection with the conduct of a trade or business
within the United States and has furnished the transferor and the Certificate
Registrar with an effective IRS Form W-8ECI (or successor form) or (ii) a
Non-United States Person that has delivered to both the transferor and the
Certificate Registrar an opinion of a nationally recognized tax counsel to the
effect that the transfer of this Certificate to it is in accordance with the
requirements of the Code and the regulations promulgated thereunder and that
such transfer of this Certificate will not be disregarded for federal income tax
purposes.

               A "Non-United States Person" is any Person other than a United
States Person. A "United States Person" is a citizen or resident of the United
States, a corporation or partnership (including an entity treated as a
corporation or partnership for federal income tax purposes) created or organized
in, or under the laws of, the United States, any State thereof or the District
of Columbia unless in the case of a partnership, Treasury Regulations are
adopted that provide otherwise, an estate whose income is includable in gross
income for United States federal income tax purposes regardless of its source or
a trust if a court within the United States is able to exercise primary
supervision over the administration of the trust, and one or more United States
Persons have the authority to control all substantial decisions of the trust,
all within the meaning of Section 7701(a)(30) of the Code (or, to the extent
provided in applicable Treasury regulations, certain trusts in existence on
August 20, 1996, that are eligible to elect to be treated as United States
Persons).

               No service charge will be imposed for any registration of
transfer or exchange of Class R-I Certificates, but the Certificate Registrar
may require payment of a sum sufficient to cover any tax or other governmental
charge that may be imposed in connection with any transfer or exchange of Class
R-I Certificates.

               The Depositor, the Master Servicer, the Special Servicer, the
Trustee, the Paying Agent and the Certificate Registrar and any agent of the
Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying
Agent or the Certificate Registrar may treat the Person in whose name this
Certificate is registered as the owner hereof for all purposes whatsoever and
none of the Depositor, the Master Servicer, the Special Servicer, the Trustee,
the Paying Agent, the Certificate Registrar, or any such agent shall be affected
by notice to the contrary.

               The Trust Fund and the obligations created by the Agreement shall
terminate upon distribution (or provision for distribution) to the
Certificateholders of all amounts held by or on behalf of the Trustee and
required to be distributed to them pursuant to the Agreement following the
earlier to occur of (i) the final payment (or any advance with respect thereto)
or other liquidation of the last Mortgage Loan or REO Property remaining in the
Trust Fund, and (ii) the purchase by the Master Servicer, the Special Servicer
or the Majority Subordinate Certificateholder at a price determined as provided
in the Agreement of all Mortgage Loans and each REO Property remaining in the
Trust Fund. The Agreement permits, but does not require, the Master Servicer,
the Special Servicer or the Majority Subordinate Certificateholder to purchase
from the Trust Fund all Mortgage Loans and each REO Property therein. The
exercise of such right will effect early retirement of the Certificates;
however, such right to purchase is subject to the aggregate Stated Principal
Balance of the Mortgage Pool at the time of purchase being less than 1% of the
aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-Off Date
specified on the face hereof.

               In addition, any exchange by any Certificateholder of all of the
then outstanding Certificates (other than the Class Z, Class R-I and Class R-II
Certificates) for all of the Mortgage Loans and each REO Property remaining in
the Trust Fund may be made: (i) if the then outstanding Certificates (other than
the Class Z, Class R-I and Class R-II Certificates) are held by a single
Certificateholder and (ii) the Class A-1, Class A-2, Class A-3, Class A-PB,
Class A-4, Class A-1A, Class A-M, Class A-J, Class B, Class C, Class D and Class
E Certificates have been paid in full.

               The Agreement permits, with certain exceptions therein provided,
the amendment thereof and the modification of the rights and obligations of the
Depositor, the Master Servicer, the Special Servicer and the Trustee and the
rights of the Certificateholders under the Agreement at any time by the
Depositor, the Master Servicer, the Special Servicer and the Trustee with the
consent of the Holders of Certificates entitled to at least 51% of the Voting
Rights allocated to the affected Classes. Any such consent by the Holder of this
Certificate shall be conclusive and binding on such Holder and upon all future
Holders of this Certificate and of any Certificate issued upon the transfer
hereof or in exchange herefor or in lieu hereof whether or not notation of such
consent is made upon this Certificate. The Agreement also permits the amendment
thereof, in certain limited circumstances, including any amendment necessary to
maintain the status of the Trust Fund (or designated portions thereof) as
consisting of two separate REMICs and one grantor trust, without the consent of
the Holders of any of the Certificates.

               Unless the certificate of authentication hereon has been executed
by the Certificate Registrar, by manual signature, this Certificate shall not be
entitled to any benefit under the Agreement or be valid for any purpose.

               The registered Holder hereof, by its acceptance hereof, agrees
that it will look solely to the Trust Fund (to the extent of its rights therein)
for distributions hereunder.

               This Certificate shall be construed in accordance with the
internal laws of the State of New York applicable to agreements made and to be
performed in said State, and the obligations, rights and remedies of the Holder
hereof shall be determined in accordance with such laws.

<PAGE>

               IN WITNESS WHEREOF, the Certificate Registrar has caused this
Certificate to be duly executed.

Dated: December 21, 2006

                                          WELLS FARGO BANK, N.A., as Certificate
                                              Registrar

                                          By: __________________________________
                                              Authorized Representative

                          CERTIFICATE OF AUTHENTICATION

               This is one of the Class R-I Certificates referred to in the
within-mentioned Agreement.

                                          WELLS FARGO BANK, N.A., as
                                              Authenticating Agent

                                          By: __________________________________
                                              Authorized Representative

<PAGE>

                                   ASSIGNMENT

               FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and
transfer(s) unto ________________________________________________________
(please print or typewrite name and address including postal zip code of
assignee) the beneficial ownership interest in the Trust Fund evidenced by the
within Commercial Mortgage Pass-Through Certificate and hereby authorize(s) the
registration of transfer of such interest to assignee on the Certificate
Register of the Trust Fund.

               I (we) further direct the Certificate Registrar to issue a new
Commercial Mortgage Pass-Through Certificate of a like Percentage Interest and
Class to the above named assignee and deliver such Commercial Mortgage
Pass-Through Certificate to the following address:
_________________________________________________________________________.

Dated: _________________________

                                          ______________________________________
                                           Signature by or on behalf of Assignor

                                          ______________________________________
                                                  Signature Guaranteed

<PAGE>

                            DISTRIBUTION INSTRUCTIONS

               The Assignee should include the following for purposes of
distribution:

               Distributions shall, if permitted, be made by wire transfer or
otherwise, in immediately available funds, to _____________________________ for
the account of _______________.

               Distributions made by check (such check to be made payable to
_____________________) and all applicable statements and notices should be
mailed to _____________________________.

               This information is provided by ________________________________,
the Assignee named above, or ____________________________________, as its agent.

<PAGE>

                                  EXHIBIT A-26

                         FORM OF CLASS R-II CERTIFICATE

            CLASS R-II COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATE,
                                 SERIES 2006-C29

evidencing a beneficial ownership interest in a trust fund (the "Trust Fund")
consisting primarily of a pool of multifamily and commercial mortgage loans (the
"Mortgage Loans"), such pool being formed and sold by

                     WACHOVIA BANK COMMERCIAL MORTGAGE TRUST

Date of Pooling and Servicing Agreement:     Percentage Interest evidenced by
December 1, 2006                             this Class R-II Certificate: 100%

Closing Date: December 21, 2006              Aggregate Stated Principal Balance
                                             of the Mortgage Loans as of the
                                             Cut-Off Date: $3,371,274,173

First Distribution Date: January 18, 2007    Trustee: Wells Fargo Bank, N.A.

Master Servicer: Wachovia Bank, National     Special Servicer: LNR Partners,
Association                                  Inc.

Certificate No. R-II-1

THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN WACHOVIA
COMMERCIAL MORTGAGE SECURITIES, INC., WELLS FARGO BANK, N.A., LNR PARTNERS,
INC., WACHOVIA BANK, NATIONAL ASSOCIATION OR ANY OF THEIR RESPECTIVE AFFILIATES.
NEITHER THIS CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS ARE GUARANTEED BY ANY
AGENCY OR INSTRUMENTALITY OF THE UNITED STATES OR ANY OTHER PERSON.

THIS CERTIFICATE IS SUBORDINATE TO THE CLASS A-1, CLASS A-2, CLASS A-3, CLASS
A-PB, CLASS A-4, CLASS A-1A, CLASS A-M, CLASS A-J, CLASS B, CLASS C, CLASS D,
CLASS E, CLASS F, CLASS G, CLASS H, CLASS J, CLASS K, CLASS L, CLASS M, CLASS N,
CLASS O, CLASS P AND CLASS Q CERTIFICATES OF THE SAME SERIES TO THE EXTENT
DESCRIBED IN THE AGREEMENT REFERRED TO HEREIN.

THIS CERTIFICATE HAS NOT BEEN REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT
OF 1933 (THE "SECURITIES ACT") OR THE SECURITIES LAWS OF ANY STATE. ANY RESALE,
TRANSFER OR OTHER DISPOSITION OF THIS CERTIFICATE WITHOUT SUCH REGISTRATION OR
QUALIFICATION MAY BE MADE ONLY IN A TRANSACTION WHICH DOES NOT REQUIRE SUCH
REGISTRATION OR QUALIFICATION AND IN ACCORDANCE WITH THE PROVISIONS OF SECTION
5.02 OF THE AGREEMENT REFERRED TO HEREIN.

NO TRANSFER OF THIS CERTIFICATE OR ANY INTEREST THEREIN SHALL BE MADE TO ANY
"EMPLOYEE BENEFIT PLAN" SUBJECT TO TITLE I OF ERISA OR A "PLAN" DESCRIBED BY
SECTION 4975(E)(1) OF THE CODE OR ANY OTHER RETIREMENT PLAN OR OTHER EMPLOYEE
BENEFIT PLAN OR ARRANGEMENT SUBJECT TO ANY FEDERAL, STATE OR LOCAL LAW
MATERIALLY SIMILAR TO THE FOREGOING PROVISIONS OF ERISA AND THE CODE, OR ANY
ENTITY DEEMED TO HOLD PLAN ASSETS OF THE FOREGOING BY REASON OF A PLAN'S
INVESTMENT IN SUCH ENTITY (EACH, A "PLAN"). EACH PERSON WHO ACQUIRES THIS
CERTIFICATE SHALL BE REQUIRED (OR, IN THE CASE OF A BOOK-ENTRY CERTIFICATE,
DEEMED) TO HAVE CERTIFIED THAT THE FOREGOING CONDITIONS ARE SATISFIED, AND THAT
IT WILL NOT TRANSFER THIS CERTIFICATE IN VIOLATION OF THE FOREGOING.

SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE IS A "RESIDUAL
INTEREST" IN A "REAL ESTATE MORTGAGE INVESTMENT CONDUIT" (A "REMIC") AS THOSE
TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE CODE.
CONSEQUENTLY, TRANSFER OF THIS CERTIFICATE IS ALSO SUBJECT TO THE ADDITIONAL TAX
RELATED TRANSFER RESTRICTIONS DESCRIBED HEREIN. IF ANY PERSON BECOMES THE
REGISTERED HOLDER OF THIS CERTIFICATE IN VIOLATION OF SUCH TRANSFER
RESTRICTIONS, SUCH REGISTRATION SHALL BE DEEMED TO BE OF NO LEGAL FORCE OR
EFFECT WHATSOEVER AND SUCH PERSON SHALL NOT BE DEEMED TO BE A CERTIFICATEHOLDER
FOR ANY PURPOSE HEREUNDER OR UNDER THE AGREEMENT REFERRED TO HEREIN, INCLUDING,
BUT NOT LIMITED TO, THE RECEIPT OF DISTRIBUTIONS ON THIS CERTIFICATE.

               This certifies that Wachovia Bank, National Association is the
registered owner of the Percentage Interest evidenced by this Class R-II
Certificate (as specified above) in that certain beneficial ownership interest
evidenced by all the Class R-II Certificates in the Trust Fund created pursuant
to a Pooling and Servicing Agreement, dated as specified above (the
"Agreement"), among Wachovia Commercial Mortgage Securities, Inc. (herein called
the "Depositor", which term includes any successor entity under the Agreement),
Wachovia Bank, National Association (herein called the "Master Servicer", which
term includes any successor entity under the Agreement), LNR Partners, Inc.
(herein called the "Special Servicer", which term includes any successor entity
under the Agreement) and Wells Fargo Bank, N.A. (herein called the "Trustee",
which term includes any successor entity under the Agreement), a summary of
certain of the pertinent provisions of which is set forth hereafter. To the
extent not defined herein, the capitalized terms used herein have the respective
meanings assigned in the Agreement. This Certificate is issued under and is
subject to the terms, provisions and conditions of the Agreement, to which
Agreement the Holder of this Certificate by virtue of the acceptance hereof
assents and by which such Holder is bound.

               Pursuant to the terms of the Agreement, distributions will be
made on the fourth Business Day following the related Determination Date (each,
a "Distribution Date"). The Determination Date is the 11th day of each month or,
if such 11th day is not a Business Day, the Business Day immediately succeeding,
commencing in January 2007 (each, a "Determination Date"). Distributions will be
made commencing on the first Distribution Date specified above, to the Person in
whose name this Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such distribution
(the "Record Date"), in an amount equal to the product of the Percentage
Interest evidenced by this Certificate and the amount, if any, required to be
distributed to the Holders of the Class R-II Certificates on the applicable
Distribution Date pursuant to the Agreement. All distributions made under the
Agreement on this Class R-II Certificate will be made by check mailed to the
address of the Person entitled thereto, as such name and address appear in the
Certificate Register. Notwithstanding the foregoing, the final distribution on
this Certificate will be made in like manner, but only upon presentation and
surrender of this Certificate at the offices of the Certificate Registrar or
such other location specified in the notice to Certificateholders of such final
distribution.

               The Certificates are limited in right of distribution to certain
collections and recoveries respecting the Mortgage Loans and REO Loans, all as
more specifically set forth herein and in the Agreement. As provided in the
Agreement, withdrawals from the Certificate Account, the Distribution Account
and, if established, the REO Account may be made from time to time for purposes
other than, and, in certain cases, prior to, distributions to
Certificateholders, such purposes including the reimbursement of Advances made,
or certain expenses incurred, with respect to the Mortgage Loans and the payment
of interest on such Advances and expenses.

               The Class R-II Certificates are issuable in fully registered form
only without coupons in minimum denominations representing Percentage Interests
specified in the Agreement. As provided in the Agreement and subject to certain
limitations therein set forth, Class R-II Certificates are exchangeable for new
Class R-II Certificates in authorized denominations evidencing the same
aggregate Percentage Interest, as requested by the Holder surrendering the same.

               As provided in the Agreement and subject to certain limitations
therein set forth, the transfer of this Certificate is registrable in the
Certificate Register upon surrender of this Certificate for registration of
transfer at the offices of the Certificate Registrar, duly endorsed by, or
accompanied by a written instrument of transfer in the form satisfactory to the
Certificate Registrar duly executed by, the Holder hereof or his attorney duly
authorized in writing, and thereupon one or more new Class R-II Certificates in
authorized denominations evidencing the same aggregate Percentage Interest will
be issued to the designated transferee or transferees.

               No transfer of any Class R-II Certificate shall be made unless
that transfer is made pursuant to an effective registration statement under the
Securities Act, and effective registration or qualification under applicable
state securities laws, or is made in a transaction which does not require such
registration or qualification. If a transfer of any R-II Certificate is to be
made without registration under the Securities Act (other than in connection
with the initial issuance thereof or the initial transfer thereof by the
Depositor or its affiliates), then the Certificate Registrar shall refuse to
register such transfer unless it receives either: (i) a certificate from the
Certificateholder desiring to effect such transfer substantially in the form
attached as Exhibit F-1 to the Agreement, and a certificate from such
Certificateholder's prospective transferee substantially in the form attached as
either Exhibit F-2, Exhibit F-3, Exhibit F-4, Exhibit F-5 or Exhibit F-6 to the
Agreement; or (ii) an Opinion of Counsel satisfactory to the Certificate
Registrar to the effect that such transfer may be made without registration
under the Securities Act (which Opinion of Counsel shall not be an expense of
the Trust Fund or of the Depositor, the Master Servicer, the Special Servicer,
the Trustee, the Paying Agent or the Certificate Registrar in their respective
capacities as such), together with the written certification(s) as to the facts
surrounding such transfer from the Certificateholder desiring to effect such
transfer and/or such Certificateholder's prospective transferee on which such
Opinion of Counsel is based. None of the Depositor, the Trustee, the Paying
Agent or the Certificate Registrar is obligated to register or qualify the Class
R-II Certificates under the Securities Act or any other securities law or to
take any action not otherwise required under the Agreement to permit the
transfer of any Class R-II Certificate without registration or qualification.
Any Class R-II Certificateholder desiring to effect such a transfer shall, and
by the acceptance of its Class R-II Certificate agrees to, indemnify the
Trustee, the Certificate Registrar, the Paying Agent and the Depositor against
any liability that may result if the transfer is not so exempt or is not made in
accordance with such federal and state laws.

               No transfer of this Class R-II Certificate or any interest
therein shall be made to (A) a Plan or (B) any Person who is directly or
indirectly purchasing the Class R-II Certificate or interest therein on behalf
of, as named fiduciary of, as trustee of, or with assets of a Plan (including,
without limitation, any insurance company using assets in its general or
separate account that may constitute assets of a Plan). As a condition to its
registration of transfer of this Class R-II Certificate, the Certificate
Registrar shall have the right to require the prospective transferee of such
Certificate, if it is not a Plan or Person described in clause (B) of the
preceding sentence, to execute a certification to that effect substantially in
the form of Exhibit H to the Agreement.

               This Certificate represents the "residual interest" in REMIC II,
as defined in the Agreement. Each Person who has or who acquires any Ownership
Interest in this Certificate shall be deemed by the acceptance or acquisition of
such Ownership Interest to have agreed to be bound by the provisions of Section
5.02(d) of the Agreement and, if any purported Transferee shall become a Holder
of this Certificate in violation of the provisions of such Section 5.02(d), to
have irrevocably authorized Wells Fargo Bank, N.A., as paying agent (the "Paying
Agent"), under clause (ii)(A) of such Section 5.02(d) to deliver payments to a
Person other than such Person and to have irrevocably authorized the Certificate
Registrar under clause (ii)(B) of such Section 5.02(d) to negotiate the terms of
any mandatory sale and to execute all instruments of Transfer and to do all
other things necessary in connection with any such sale. Each Person holding or
acquiring any Ownership Interest in this Certificate must be a Permitted
Transferee and shall promptly notify the Master Servicer, the Paying Agent and
the Certificate Registrar of any change or impending change in its status as a
Permitted Transferee. In connection with any proposed Transfer of any Ownership
Interest in this Certificate, the Certificate Registrar shall require delivery
to it, and shall not register the Transfer of this Certificate until its receipt
of, an affidavit and agreement substantially in the form attached as Exhibit H-1
to the Agreement (a "Transfer Affidavit and Agreement") from the proposed
Transferee, in form and substance satisfactory to the Certificate Registrar,
representing and warranting, among other things, that such Transferee is a
Permitted Transferee, that it is not acquiring its Ownership Interest in this
Certificate as a nominee, trustee or agent for any Person that is not a
Permitted Transferee, that for so long as it retains its Ownership Interest in
this Certificate, it will endeavor to remain a Permitted Transferee, and that it
has reviewed the provisions of Section 5.02(d) of the Agreement and agrees to be
bound by them. Notwithstanding the delivery of a Transfer Affidavit and
Agreement by a proposed Transferee, if a Responsible Officer of the Certificate
Registrar has actual knowledge that the proposed Transferee is not a Permitted
Transferee, no Transfer of an Ownership Interest in this Certificate to such
proposed Transferee shall be effected. The proposed Transferee must also state
in the Transfer Affidavit and Agreement that (A) it has historically paid its
debts as they have come due and intends to continue to pay its debts as they
come due in the future, (B) it understands that it may incur tax liabilities
with respect to this certificate in excess of cash flows generated thereby, (C)
it intends to pay any taxes associated with holding this certificate as they
become due, (D) it will not cause income from this certificate to be
attributable to a foreign permanent establishment or fixed base (within the
meaning of an applicable income tax treaty) of its own or of any other person
and (E) it will not transfer this certificate to any person or entity that does
not provide a similar affidavit. Any purported transfer to a disqualified
organization or other person that is not a permitted transferee or otherwise in
violation of these restrictions shall be absolutely null and void and shall vest
no rights in any purported transferee. If this certificate represents a
"non-economic residual interest", as defined in Treasury Regulations Section
1.860E-1(c), transfers of this certificate may be disregarded for federal income
tax purposes. In order to satisfy a regulatory safe harbor under which such
transfers will not be disregarded, the transferor may be required, among other
things, to satisfy itself as to the financial condition of the proposed
transferee and either to transfer at a minimum price or to an eligible
transferee as specified in regulations.

               Each Person holding or acquiring any Ownership Interest in this
Certificate shall agree (x) to require a Transfer Affidavit and Agreement from
any other Person to whom such Person attempts to transfer its Ownership Interest
herein and (y) not to transfer its Ownership Interest unless it provides to the
Certificate Registrar a certificate substantially in the form attached as
Exhibit H-2 to the Agreement stating that, among other things, it has no actual
knowledge that such other Person is not a Permitted Transferee. Each Person
holding or acquiring an Ownership Interest in this Certificate, by purchasing
such Ownership Interest herein, agrees to give the Master Servicer and the
Paying Agent written notice that it is a "pass-through interest holder" within
the meaning of temporary Treasury Regulation Section 1.67-3T(a)(2)(i)(A)
immediately upon acquiring such Ownership Interest, if it is, or is holding such
Ownership Interest on behalf of, a "pass-through interest holder".

               The provisions of Section 5.02(d) of the Agreement may be
modified, added to or eliminated, provided that there shall have been delivered
to the Certificate Registrar and the Master Servicer the following: (a) written
confirmation from each Rating Agency to the effect that the modification of,
addition to or elimination of such provisions will not cause such Rating Agency
to qualify, downgrade or withdraw its then-current ratings of any Class of
Certificates; and (b) an Opinion of Counsel, in form and substance satisfactory
to the Certificate Registrar and the Master Servicer, obtained at the expense of
the party seeking such modification of, addition to or elimination of such
provisions (but in no event at the expense of the Trust Fund), to the effect
that such modification of, addition to or elimination of such provisions will
not cause the Trust Fund to (x) cease to qualify as two REMICs or (y) be subject
to an entity-level tax caused by the Transfer of any Class R-II Certificate to a
Person which is not a Permitted Transferee, or cause a Person other than the
prospective Transferee to be subject to a REMIC-related tax caused by the
transfer of this Class R-II Certificate to a Person which is not a Permitted
Transferee.

               A "Permitted Transferee" is any Transferee of a Residual
Certificate other than a (i) Disqualified Organization, (ii) a Plan, (iii) a
Disqualified Non-United States Person, (iv) a United States Person treated as a
partnership for federal income tax purposes, any partner of which, directly or
indirectly (except through a U.S. corporation), is (or is permitted under the
related partnership agreement to be) a Disqualified Non-United States Person, or
(v) a United States Person with respect to whom income on the Residual
Certificate is allocable to a foreign permanent establishment or fixed base,
within the meaning of an applicable income tax treaty, of such Person or any
other United States Person. A "Disqualified Organization" is any of the
following: (i) the United States or a possession thereof, any State or any
political subdivision thereof, or any agency or instrumentality of any of the
foregoing (other than an instrumentality which is a corporation if all of its
activities are subject to tax and, except for FHLMC, a majority of its board of
directors is not selected by any such governmental unit), (ii) a foreign
government, international organization, or any agency or instrumentality of
either of the foregoing, (iii) any organization (except certain farmers'
cooperatives described in Section 521 of the Code) which is exempt from the tax
imposed by Chapter 1 of the Code (unless such organization is subject to the tax
imposed by Section 511 of the Code on unrelated business taxable income), (iv)
rural electric and telephone cooperatives described in Section 1381 of the Code
or (v) any other Person so designated by the Paying Agent or the Certificate
Registrar based upon an Opinion of Counsel (which shall not be an expense of the
Paying Agent) that the holding of an Ownership Interest in a Class R-II
Certificate by such Person may cause the Trust Fund or any Person having an
Ownership Interest in any Class of Certificates, other than such Person, to
incur a liability for any federal tax imposed under the Code that would not
otherwise be imposed but for the Transfer of an Ownership Interest in a Class
R-II Certificate to such Person. The terms "United States", "State" and
"international organization" shall have the meanings set forth in Section 7701
of the Code or successor provisions.

               A "Disqualified Non-United States Person" is any Non-United
States Person or agent thereof other than (i) a Non-United States Person that
holds this Certificate in connection with the conduct of a trade or business
within the United States and has furnished the transferor and the Certificate
Registrar with an effective IRS Form W-8ECI (or successor form) or (ii) a
Non-United States Person that has delivered to both the transferor and the
Certificate Registrar an opinion of a nationally recognized tax counsel to the
effect that the transfer of this Certificate to it is in accordance with the
requirements of the Code and the regulations promulgated thereunder and that
such transfer of this Certificate will not be disregarded for federal income tax
purposes.

               A "Non-United States Person" is any Person other than a United
States Person. A "United States Person" is a citizen or resident of the United
States, a corporation or partnership (including an entity treated as a
corporation or partnership for federal income tax purposes) created or organized
in, or under the laws of, the United States, any State thereof or the District
of Columbia unless in the case of a partnership, Treasury Regulations are
adopted that provide otherwise, an estate whose income is includable in gross
income for United States federal income tax purposes regardless of its source or
a trust if a court within the United States is able to exercise primary
supervision over the administration of the trust, and one or more United States
Persons have the authority to control all substantial decisions of the trust,
all within the meaning of Section 7701(a)(30) of the Code (or, to the extent
provided in applicable Treasury regulations, certain trusts in existence on
August 20, 1996, that are eligible to elect to be treated as United States
Persons).

               No service charge will be imposed for any registration of
transfer or exchange of Class R-II Certificates, but the Certificate Registrar
may require payment of a sum sufficient to cover any tax or other governmental
charge that may be imposed in connection with any transfer or exchange of Class
R-II Certificates.

               The Depositor, the Master Servicer, the Special Servicer, the
Trustee, the Paying Agent and the Certificate Registrar and any agent of the
Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying
Agent or the Certificate Registrar may treat the Person in whose name this
Certificate is registered as the owner hereof for all purposes whatsoever and
none of the Depositor, the Master Servicer, the Special Servicer, the Trustee,
the Paying Agent, the Certificate Registrar, or any such agent shall be affected
by notice to the contrary.

               The Trust Fund and the obligations created by the Agreement shall
terminate upon distribution (or provision for distribution) to the
Certificateholders of all amounts held by or on behalf of the Trustee and
required to be distributed to them pursuant to the Agreement following the
earlier to occur of (i) the final payment (or any advance with respect thereto)
or other liquidation of the last Mortgage Loan or REO Property remaining in the
Trust Fund, and (ii) the purchase by the Master Servicer, the Special Servicer
or the Majority Subordinate Certificateholder at a price determined as provided
in the Agreement of all Mortgage Loans and each REO Property remaining in the
Trust Fund. The Agreement permits, but does not require, the Master Servicer,
the Special Servicer or the Majority Subordinate Certificateholder to purchase
from the Trust Fund all Mortgage Loans and each REO Property remaining therein.
The exercise of such right will effect early retirement of the Certificates;
however, such right to purchase is subject to the aggregate Stated Principal
Balance of the Mortgage Pool at the time of purchase being less than 1% of the
aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-Off Date
specified on the face hereof.

               In addition, any exchange by any Certificateholder of all of the
then outstanding Certificates (other than the Class Z, Class R-I and Class R-II
Certificates) for all of the Mortgage Loans and each REO Property remaining in
the Trust Fund may be made: (i) if the then outstanding Certificates (other than
the Class Z, Class R-I and Class R-II Certificates) are held by a single
Certificateholder and (ii) the Class A-1, Class A-2, Class A-3, Class A-PB,
Class A-4, Class A-1A, Class A-M, Class A-J, Class B, Class C, Class D and Class
E Certificates have been paid in full.

               The Agreement permits, with certain exceptions therein provided,
the amendment thereof and the modification of the rights and obligations of the
Depositor, the Master Servicer, the Special Servicer and the Trustee and the
rights of the Certificateholders under the Agreement at any time by the
Depositor, the Master Servicer, the Special Servicer and the Trustee with the
consent of the Holders of Certificates entitled to at least 51% of the Voting
Rights allocated to the affected Classes. Any such consent by the Holder of this
Certificate shall be conclusive and binding on such Holder and upon all future
Holders of this Certificate and of any Certificate issued upon the transfer
hereof or in exchange herefor or in lieu hereof whether or not notation of such
consent is made upon this Certificate. The Agreement also permits the amendment
thereof, in certain limited circumstances, including any amendment necessary to
maintain the status of the Trust Fund (or designated portions thereof) as
consisting of two separate REMICs and one grantor trust, without the consent of
the Holders of any of the Certificates.

               Unless the certificate of authentication hereon has been executed
by the Certificate Registrar, by manual signature, this Certificate shall not be
entitled to any benefit under the Agreement or be valid for any purpose.

               The registered Holder hereof, by its acceptance hereof, agrees
that it will look solely to the Trust Fund (to the extent of its rights therein)
for distributions hereunder.

               This Certificate shall be construed in accordance with the
internal laws of the State of New York applicable to agreements made and to be
performed in said State, and the obligations, rights and remedies of the Holder
hereof shall be determined in accordance with such laws.

<PAGE>

               IN WITNESS WHEREOF, the Certificate Registrar has caused this
Certificate to be duly executed.

Dated: December 21, 2006

                                          WELLS FARGO BANK, N.A., as Certificate
                                              Registrar

                                          By: __________________________________
                                              Authorized Representative

                          CERTIFICATE OF AUTHENTICATION

               This is one of the Class R-II Certificates referred to in the
within-mentioned Agreement.

                                          WELLS FARGO BANK, N.A., as
                                              Authenticating Agent

                                          By: __________________________________
                                              Authorized Representative

<PAGE>

                                   ASSIGNMENT

               FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and
transfer(s) unto ________________________________________________________
(please print or typewrite name and address including postal zip code of
assignee) the beneficial ownership interest in the Trust Fund evidenced by the
within Commercial Mortgage Pass-Through Certificate and hereby authorize(s) the
registration of transfer of such interest to assignee on the Certificate
Register of the Trust Fund.

               I (we) further direct the Certificate Registrar to issue a new
Commercial Mortgage Pass-Through Certificate of a like Percentage Interest and
Class to the above named assignee and deliver such Commercial Mortgage
Pass-Through Certificate to the following address:
_________________________________________________________________________.

Dated: _________________________

                                          ______________________________________
                                           Signature by or on behalf of Assignor

                                          ______________________________________
                                                  Signature Guaranteed

<PAGE>

                            DISTRIBUTION INSTRUCTIONS

               The Assignee should include the following for purposes of
distribution:

               Distributions shall, if permitted, be made by wire transfer or
otherwise, in immediately available funds, to _____________________________ for
the account of _______________.

               Distributions made by check (such check to be made payable to
_____________________) and all applicable statements and notices should be
mailed to _____________________________.

               This information is provided by ________________________________,
the Assignee named above, or ____________________________________, as its agent.

<PAGE>

                                  EXHIBIT A-27

                           FORM OF CLASS Z CERTIFICATE

              CLASS Z COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATE,
                                 SERIES 2006-C29

evidencing a beneficial ownership interest in a trust fund (the "Trust Fund")
consisting primarily of a pool of multifamily and commercial mortgage loans (the
"Mortgage Loans"), such pool being formed and sold by

                     WACHOVIA BANK COMMERCIAL MORTGAGE TRUST

Date of Pooling and Servicing Agreement:     Percentage Interest evidenced by
December 1, 2006                             this Class Z Certificate: 100%

Closing Date: December 21, 2006              Aggregate Stated Principal Balance
                                             of the Mortgage Loans as of the
                                             Cut-Off Date: $3,371,274,173

First Distribution Date: January 18, 2007    Trustee: Wells Fargo Bank, N.A.

Master Servicer: Wachovia Bank, National     Special Servicer: LNR Partners,
Association                                  Inc.

Certificate No. Z-1

THIS CERTIFICATE DOES NOT HAVE A CERTIFICATE PRINCIPAL BALANCE AND WILL NOT
ENTITLE THE HOLDER HEREOF TO DISTRIBUTIONS OF PRINCIPAL, BUT IS ENTITLED TO
RECEIVE DISTRIBUTIONS OF ADDITIONAL INTEREST AS SET FORTH IN THE AGREEMENT.

THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN WACHOVIA
COMMERCIAL MORTGAGE SECURITIES, INC., WELLS FARGO BANK, N.A., LNR PARTNERS,
INC., WACHOVIA BANK, NATIONAL ASSOCIATION OR ANY OF THEIR RESPECTIVE AFFILIATES.
NEITHER THIS CERTIFICATE NOR THE UNDERLYING MORTGAGE LOANS ARE GUARANTEED BY ANY
AGENCY OR INSTRUMENTALITY OF THE UNITED STATES OR ANY OTHER PERSON.

THIS CERTIFICATE HAS NOT BEEN REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT
OF 1933 (THE "SECURITIES ACT") OR THE SECURITIES LAWS OF ANY STATE. ANY RESALE,
TRANSFER OR OTHER DISPOSITION OF THIS CERTIFICATE WITHOUT SUCH REGISTRATION OR
QUALIFICATION MAY BE MADE ONLY IN A TRANSACTION WHICH DOES NOT REQUIRE SUCH
REGISTRATION OR QUALIFICATION AND IN ACCORDANCE WITH THE PROVISIONS OF SECTION
5.02 OF THE AGREEMENT REFERRED TO HEREIN.

NO TRANSFER OF THIS CERTIFICATE OR ANY INTEREST THEREIN SHALL BE MADE TO ANY
"EMPLOYEE BENEFIT PLAN" SUBJECT TO TITLE I ERISA OR A "PLAN" DESCRIBED BY
SECTION 4975(E)(1) OF THE CODE OR ANY OTHER RETIREMENT PLAN OR OTHER EMPLOYEE
BENEFIT PLAN OR ARRANGEMENT SUBJECT TO ANY FEDERAL, STATE OR LOCAL LAW
MATERIALLY SIMILAR TO THE FOREGOING PROVISIONS OF ERISA AND THE CODE, OR ANY
ENTITY DEEMED TO HOLD PLAN ASSETS OF THE FOREGOING BY REASON OF A PLAN'S
INVESTMENT IN SUCH ENTITY (EACH, A "PLAN"). EACH PERSON WHO ACQUIRES THIS
CERTIFICATE SHALL BE REQUIRED (OR, IN THE CASE OF A BOOK-ENTRY CERTIFICATE,
DEEMED) TO HAVE CERTIFIED THAT THE FOREGOING CONDITIONS ARE SATISFIED, AND THAT
IT WILL NOT TRANSFER THIS CERTIFICATE IN VIOLATION OF THE FOREGOING.

               This certifies that Hyperion Brookfield Asset Management, Inc. is
the registered owner of the Percentage Interest evidenced by this Class Z
Certificate (as specified above) in that certain beneficial ownership interest
evidenced by all the Class Z Certificates in the Trust Fund created pursuant to
a Pooling and Servicing Agreement, dated as specified above (the "Agreement"),
among Wachovia Commercial Mortgage Securities, Inc. (herein called the
"Depositor", which term includes any successor entity under the Agreement),
Wachovia Bank, National Association (herein called the "Master Servicer", which
term includes any successor entity under the Agreement), LNR Partners, Inc.
(herein called the "Special Servicer", which term includes any successor entity
under the Agreement) and Wells Fargo Bank, N.A. (herein called the "Trustee",
which term includes any successor entity under the Agreement), a summary of
certain of the pertinent provisions of which is set forth hereafter. To the
extent not defined herein, the capitalized terms used herein have the respective
meanings assigned in the Agreement. This Certificate is issued under and is
subject to the terms, provisions and conditions of the Agreement, to which
Agreement the Holder of this Certificate by virtue of the acceptance hereof
assents and by which such Holder is bound.

               Pursuant to the terms of the Agreement, distributions will be
made on the fourth Business Day following the related Determination Date (each,
a "Distribution Date"). The Determination Date is the 11th day of each month or,
if such 11th day is not a Business Day, the Business Day immediately succeeding,
commencing in January 2007 (each, a "Determination Date"). Distributions will be
made commencing on the first Distribution Date specified above, to the Person in
whose name this Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such distribution
(the "Record Date"), in an amount equal to the product of the Percentage
Interest evidenced by this Certificate and the amount required to be distributed
to the Holders of the Class Z Certificates on the applicable Distribution Date
pursuant to the Agreement. All distributions made under the Agreement on the
Class Z Certificates will be made by Wells Fargo Bank, N.A., as paying agent
(the "Paying Agent"), by wire transfer of immediately available funds to the
account of the Person entitled thereto at a bank or other entity having
appropriate facilities therefor, if such Certificateholder shall have provided
the Paying Agent with wiring instructions no less than five Business Days prior
to the related Record Date (which wiring instructions may be in the form of a
standing order applicable to all subsequent distributions), or otherwise by
check mailed to the address of such Certificateholder as it appears in the
Certificate Register. Notwithstanding the foregoing, the final distribution on
this Certificate will be made in like manner, but only upon presentation and
surrender of this Certificate at the offices of the Certificate Registrar or
such other location specified in the notice to the Holder hereof of such final
distribution.

               The Certificates are limited in right of distribution to certain
collections and recoveries of Additional Interest payable on the Mortgage Loans,
all as more specifically set forth herein and in the Agreement.

               The Class Z Certificates are issuable in fully registered form
only without coupons in minimum denominations representing Percentage Interests
specified in the Agreement. As provided in the Agreement and subject to certain
limitations therein set forth, Class Z Certificates are exchangeable for new
Class Z Certificates in authorized denominations evidencing the same aggregate
Percentage Interest, as requested by the Holder surrendering the same.

               Any distribution to the Holder of this Certificate is binding on
such Holder and all future Holders of this Certificate and any Certificate
issued upon the transfer hereof or in exchange herefor or in lieu hereof whether
or not notation of such distribution is made upon this Certificate.

               As provided in the Agreement and subject to certain limitations
therein set forth, the transfer of this Certificate is registrable in the
Certificate Register upon surrender of this Certificate for registration of
transfer at the offices of the Certificate Registrar, duly endorsed by, or
accompanied by a written instrument of transfer in the form satisfactory to the
Certificate Registrar duly executed by, the Holder hereof or his attorney duly
authorized in writing, and thereupon one or more new Class Z Certificates in
authorized denominations evidencing the same aggregate Percentage Interest will
be issued to the designated transferee or transferees.

               No transfer of any Class Z Certificate shall be made unless that
transfer is made pursuant to an effective registration statement under the
Securities Act, and effective registration or qualification under applicable
state securities laws, or is made in a transaction which does not require such
registration or qualification. If such a transfer is to be made without
registration under the Securities Act (other than in connection with the initial
issuance thereof or the initial transfer thereof by the Depositor or its
respective affiliates), then the Certificate Registrar shall refuse to register
such transfer unless it receives either: (i) a certificate from the
Certificateholder desiring to effect such transfer substantially in the form
attached as Exhibit F-1 to the Agreement, and a certificate from such
Certificateholder's prospective transferee substantially in the form attached as
either Exhibit F-2, Exhibit F-3, Exhibit F-4, Exhibit F-5 or Exhibit F-6 to the
Agreement; or (ii) an Opinion of Counsel reasonably satisfactory to the
Certificate Registrar to the effect that such transfer may be made without
registration under the Securities Act (which Opinion of Counsel shall not be an
expense of the Trust Fund or of the Depositor, the Master Servicer, the Special
Servicer, the Trustee, the Paying Agent or the Certificate Registrar in their
respective capacities as such), together with the written certification(s) as to
the facts surrounding such transfer from the Certificateholder desiring to
effect such transfer and/or such Certificateholder's prospective transferee on
which such Opinion of Counsel is based. None of the Depositor, the Trustee, the
Paying Agent or the Certificate Registrar is obligated to register or qualify
the Class Z Certificates under the Securities Act or any other securities law or
to take any action not otherwise required under the Agreement to permit the
transfer of any Class Z Certificate without registration or qualification. Any
Class Z Certificateholder desiring to effect such a transfer shall, and by the
acceptance of its Class Z Certificate agrees to, indemnify the Trustee, the
Certificate Registrar, the Paying Agent and the Depositor against any liability
that may result if the transfer is not so exempt or is not made in accordance
with such federal and state laws.

               No service charge will be imposed for any registration of
transfer or exchange of Class Z Certificates, but the Certificate Registrar may
require payment of a sum sufficient to cover any tax or other governmental
charge that may be imposed in connection with any transfer or exchange of Class
Z Certificates.

               The Depositor, the Master Servicer, the Special Servicer, the
Trustee, the Paying Agent and the Certificate Registrar and any agent of the
Depositor, the Master Servicer, the Special Servicer, the Trustee, the Paying
Agent or the Certificate Registrar may treat the Person in whose name this
Certificate is registered as the owner hereof for all purposes whatsoever and
none of the Depositor, the Master Servicer, the Special Servicer, the Trustee,
the Paying Agent, the Certificate Registrar, or any such agent shall be affected
by notice to the contrary.

               The Trust Fund and the obligations created by the Agreement shall
terminate upon distribution (or provision for distribution) to the
Certificateholders of all amounts held by or on behalf of the Trustee and
required to be distributed to them pursuant to the Agreement following the
earlier to occur of (i) the final payment (or any advance with respect thereto)
or other liquidation of the last Mortgage Loan or REO Property remaining in the
Trust Fund, and (ii) the purchase by the Master Servicer, the Special Servicer
or the Majority Subordinate Certificateholder at a price determined as provided
in the Agreement of all Mortgage Loans and each REO Property remaining in the
Trust Fund. The Agreement permits, but does not require, the Master Servicer,
the Special Servicer or the Majority Subordinate Certificateholder to purchase
from the Trust Fund all Mortgage Loans and each REO Property remaining therein.
The exercise of such right will effect early retirement of the Class Z
Certificates; however, such right to purchase is subject to the aggregate Stated
Principal Balance of the Mortgage Pool at the time of purchase being less than
1% of the aggregate Stated Principal Balance of the Mortgage Loans as of the
Cut-Off Date specified on the face hereof.

               In addition, any exchange by any Certificateholder of all of the
then outstanding Certificates (other than the Class Z, Class R-I and Class R-II
Certificates) for all of the Mortgage Loans and each REO Property remaining in
the Trust Fund may be made: (i) if the then outstanding Certificates (other than
the Class Z, Class R-I and Class R-II Certificates) are held by a single
Certificateholder and (ii) the Class A-1, Class A-2, Class A-3, Class A-PB,
Class A-4, Class A-1A, Class A-M, Class A-J, Class B, Class C, Class D and Class
E Certificates have been paid in full.

               The Agreement permits, with certain exceptions therein provided,
the amendment thereof and the modification of the rights and obligations of the
Depositor, the Master Servicer, the Special Servicer and the Trustee and the
rights of the Certificateholders under the Agreement at any time by the
Depositor, the Master Servicer, the Special Servicer and the Trustee with the
consent of the Holders of Certificates entitled to at least 51% of the Voting
Rights allocated to the affected Classes. Any such consent by the Holder of this
Certificate shall be conclusive and binding on such Holder and upon all future
Holders of this Certificate and of any Certificate issued upon the transfer
hereof or in exchange herefor or in lieu hereof whether or not notation of such
consent is made upon this Certificate. The Agreement also permits the amendment
thereof, in certain limited circumstances, including any amendment necessary to
maintain the status of the Trust Fund (or designated portions thereof) as
consisting of two separate REMICs and one grantor trust, without the consent of
the Holders of any of the Certificates.

               Unless the certificate of authentication hereon has been executed
by the Certificate Registrar, by manual signature, this Certificate shall not be
entitled to any benefit under the Agreement or be valid for any purpose.

               The registered Holder hereof, by its acceptance hereof, agrees
that it will look solely to the Trust Fund (to the extent of its rights therein)
for distributions hereunder.

               This Certificate shall be construed in accordance with the
internal laws of the State of New York applicable to agreements made and to be
performed in said State, and the obligations, rights and remedies of the Holder
hereof shall be determined in accordance with such laws.

<PAGE>

               IN WITNESS WHEREOF, the Certificate Registrar has caused this
Certificate to be duly executed.

Dated: December 21, 2006

                                          WELLS FARGO BANK, N.A., as Certificate
                                              Registrar

                                          By: __________________________________
                                              Authorized Representative

                          CERTIFICATE OF AUTHENTICATION

               This is one of the Class Z Certificates referred to in the
within-mentioned Agreement.

                                          WELLS FARGO BANK, N.A., as
                                              Authenticating Agent

                                          By: __________________________________
                                              Authorized Representative

<PAGE>

                                   ASSIGNMENT

               FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and
transfer(s) unto ________________________________________________________
(please print or typewrite name and address including postal zip code of
assignee) the beneficial ownership interest in the Trust Fund evidenced by the
within Commercial Mortgage Pass-Through Certificate and hereby authorize(s) the
registration of transfer of such interest to assignee on the Certificate
Register of the Trust Fund.

               I (we) further direct the Certificate Registrar to issue a new
Commercial Mortgage Pass-Through Certificate of a like Percentage Interest and
Class to the above named assignee and deliver such Commercial Mortgage
Pass-Through Certificate to the following address:
_________________________________________________________________________.

Dated: _________________________

                                          ______________________________________
                                           Signature by or on behalf of Assignor

                                          ______________________________________
                                                  Signature Guaranteed

<PAGE>

                            DISTRIBUTION INSTRUCTIONS

               The Assignee should include the following for purposes of
distribution:

               Distributions shall, if permitted, be made by wire transfer or
otherwise, in immediately available funds, to _____________________________ for
the account of _______________.

               Distributions made by check (such check to be made payable to
_____________________) and all applicable statements and notices should be
mailed to _____________________________.

               This information is provided by ________________________________,
the Assignee named above, or ____________________________________, as its agent.

<PAGE>

                                    EXHIBIT B

                             MORTGAGE LOAN SCHEDULE
                             ----------------------

<TABLE>
<CAPTION>
 Mortgage      Loan Group
Loan Number      Number                   Property Name                                           Address
------------------------------------------------------------------------------------------------------------------------------------
<S>                 <C>       <C>                                               <C>
  1                 1         Duke Realty Industrial Pool                       Various
 1.01                         400 South Enterprise Boulevard                    400 South Enterprise Boulevard
 1.02                         2425 East Hadley Road                             2425 East Hadley Road
 1.03                         250 Declaration Drive                             250 Declaration Drive
 1.04                         2209-2233 Stafford Road                           2209-2233 Stafford Road
 1.05                         500-520 South Enterprise Boulevard                500-520 South Enterprise Boulevard
 1.06                         163 Portside Court                                163 Portside Court
 1.07                         3201 Centre Parkway                               3201 Centre Parkway
 1.08                         1581 South Perry Road                             1581 South Perry Road
 1.09                         1551 South Perry Road                             1551 South Perry Road
 1.10                         185 North Mount Zion Road                         185 North Mount Zion Road
 1.11                         1390 South Perry Road                             1390 South Perry Road
 1.12                         322 South Enterprise Boulevard                    322 South Enterprise Boulevard
 1.13                         4200 North Commerce Drive                         4200 North Commerce Drive
 1.14                         6655 Sugarloaf Parkway                            6655 Sugarloaf Parkway
 1.15                         420 East Enterprise Boulevard                     420 East Enterprise Boulevard
 1.16                         3079 Premiere Parkway                             3079 Premiere Parkway
 1.17                         175 Alcovy Industrial Boulevard                   175 Alcovy Industrial Boulevard
 1.18                         2850 Premiere Parkway                             2850 Premiere Parkway
 1.19                         3800 Centre Parkway - Building 1400               3800 Centre Parkway, Building 1400
 1.20                         2855 Premiere Parkway                             2855 Premiere Parkway
 1.21                         3900 North Commerce Drive                         3900 North Commerce Drive
 1.22                         2775 Premiere Parkway                             2775 Premiere Parkway
 1.23                         198 Gulfstream Road                               198 Gulfstream Road
 1.24                         3800 Centre Parkway - Building 1800               3800 Centre Parkway, Building 1800
 1.25                         3800 Centre Parkway - Building 2400               3800 Centre Parkway, Building 2400
 1.26                         3800 Centre Parkway - Building 2600               3800 Centre Parkway, Building 2600
 1.27                         3800 Centre Parkway - Building 2000               3800 Centre Parkway, Building 2000
 2.00               1         Centro Syndicate 2 Pool                           Various
 2.01                         College Plaza                                     Middle Country Road and Boyle Road
 2.02                         Oakwood Commons                                   4642-4724 Lebanon Pike
 2.03                         Parkway Plaza                                     217 Glen Cove Road
 2.04                         Rutland Plaza                                     1 Ruthland Plaza
 2.05                         Spradlin Farm Retail Center                       110 Conston Avenue
 2.06                         Torrington Plaza                                  1 South Main Street
 2.07                         Tri-City Plaza                                    Tri-City Road and High Street
 2.08                         Watson Glen                                       209 South Royal Oaks Boulevard
 2.09                         Westgate Plaza                                    231 East Main Street
 2.10                         Dalewood Shopping Center                          353-425 N. Central Avenue
 2.11                         Grand Traverse Crossing                           2522 - 2664 Crossing Circle
 2.12                         Lehigh Shopping Center                            West Union Boulevard at Pennsylvania Avenue
 2.13                         Northern Hills                                    95 and 105 Buckland Hills Drive
 2.14                         Southport Centre I-VI                             15050-15300 Cedar Avenue
 2.15                         Trinity Commons                                   South Hulen Street & Bellaire Drive
 2.16                         Wendover Place                                    1210 Bridford Parkway
 3.00               1         Galleria at Tyler                                 1299 Galleria at Tyler
 4.00               1         Centro International Wholesale Pool               Various
 4.01                         Falcaro's Plaza                                   294 Burnside Avenue
 4.02                         Hale Road                                         169-179 Hale Road
 4.03                         Innes Street Market                               343 Faith Road
 4.04                         Kings Park Shopping Center                        38-66 Indian Head Road
 4.05                         Lynn Marketplace                                  43 State Street
 4.06                         Morris Hills Shopping Center                      Parsippany Boulevard (Route 202) and Bloomfield
                                                                                  Avenue (Route 46)
 4.07                         New Centre Market                                 4711 New Centre Drive
 4.08                         Rockville Centre                                  150-156 North Village Avenue
 4.09                         Suffolk Plaza                                     4042-4088 Nesconset Highway
 4.1                          Three Village Shopping Center                     Route 25A & Ridgeway Avenue
 4.11                         Venetian Isles                                    3700 North Federal Highway
 4.12                         Berkshire Crossing                                555 Hubbard Avenue
 4.13                         County Line Plaza                                 1053 East County Line Road
  5                 1         Westfield Fox Valley                              195 Fox Valley Center Drive
  6                 1         Newport Bluffs(1)                                 100 Vilaggio
  7                 1         Renaissance Tower Office Building                 1201 Elm Street
  8                 1         21-25 West 34th Street                            21-25 West 34th Street
  9                 2         La Jolla International Apartments                 3415, 3425, 3435, 3445, 3455 and 3465 Lebon Drive
  10                1         Deer Park Town Center                             20530 North Rand Road
  11                1         Dakota Square Mall                                2400 10th Street SW
  12                2         La Scala Apartments                               3833, 3845, 3855 & 3899 Nobel Drive
  13                2         Pennwood Crossing MHP                             1201 Adler Drive
  14                1         Alhambra Towers                                   121 Alhambra Plaza
  15                2         AMLI at Riverbend                                 8850 Riverbend Parkway
  16                1         Hilton - Providence, RI(3)                        21 Atwells Avenue
  17                1         New Market Pool                                   Various
17.01                         New Market 2161                                   2161 Newmarket Parkway
17.02                         New Market 2211                                   2211 New Market Parkway
17.03                         New Market 2221                                   2221 New Market Parkway
17.04                         New Market 2121                                   2121 Newmarket Parkway
17.05                         New Market 2250                                   2250 New Market Parkway
17.06                         New Market 2110                                   2110 New Market Parkway
  18                1         Crossroads Technology Park                        3200 & 3280 Whipple Road
  19                1         Gateway Chula Vista II                            333 H Street
  20                2         Village on University Apartments                  1655 East University Drive
  21                1         Shoppes of Wellington Green                       10500 Forest Hill Boulevard
  22                2         The Fairways Apartments                           777 West Chandler Boulevard
  23                1         Barry Woods Crossings Shopping Center             8121-8341 N.W. Roanridge Road
  24                1         Weston One                                        1001 Winstead Drive
  25                1         Lakeland Commons Shopping Center                  200-250 Ridge Way
  26                1         Las Colinas Corporate Center II                   6363 North State Highway 161
  27                2         Raveneaux Apartments(4)                           14500 Cutten Road
  28                2         Gramercy Apartments                               9054 Gramercy Drive
  29                2         Rancho Solana Apartments                          2400-2444 Alvarado Street
  30                1         Concourse Office Plaza I & II                     4709 - 4711 Golf Road
  31                2         Napa Valley Apartments                            1349 West Horizon Ridge Parkway
  32                1         SanTan Village Phase III                          2716, 2720, 2756 and 2810 South Market Street;
                                                                                  2711, 2721 and 2757 South SanTan Village Parkway
  33                2         Pinnacle Grove Apartments                         701 West Grove Parkway
  34                1         Boulder Crossing Shopping Center                  5500 Boulder Way
  35                1         Sono Corporate Center                             50 Washington Street
  36                1         Reads Way                                         11, 13, & 15 Reads Way
  37                1         Professional Center at Pembroke Lakes Mall        400-700 North Hiatus Road
  38                1         Chestnut Run                                      4250 Lancaster Pike
  39                2         Melody Lakes Country Club Estates                 1045 North West End Boulevard
  40                2         Treybrooke Apartments                             701 Treybrooke Circle
  41                2         Smoky Crossing I Apartments(5)                    11647 Chapman Highway
  42                1         Cost Plus Plaza                                   2552 Taylor Street
  43                1         Las Colinas Corporate Center I                    6333 North State Highway 161
  44                1         The Forum at Ashley Park, Phase I                 100 Newnan Crossing Bypass
  45                1         Warner Crossings                                  8260 & 8312 South Hardy Drive
  46                1         Professional Centre at Gardens Mall               11601-11641 Kew Gardens Avenue
  47                1         Driftwood Village Shopping Center                 2238-2252 South Euclid Avenue
  48                1         Embassy Suites Tucson-Broadway(6)                 5335 East Broadway Boulevard
  49                2         Heritage Lake at Westland Apartments              1105 Lake Heritage Way
  50                1         Aetna Building - Fresno, CA                       1333-1385 East SHaw Avenue
  51                1         345 Inverness Building                            345 Inverness Drive South
  52                2         Andorra Apartments                                81-720 Avenue 46
  53                1         West Sahara Promenade                             8145 West Sahara Avenue
  54                2         Eagle Pointe Apartments(7)                        8608 Eagle Pointe Drive
  55                1         Twelve Oaks                                       5500 Abercorn Street
  56                1         Northdale Executive Center I & II                 3810 & 3820 Northdale Boulevard
  57                1         Arcadia Gateway Center - Office                   SWC Huntington Drive & 5th Avenue
  58                2         Silver Lakes Heights Apartments(8)                2020 Lake Heights Drive
  59                2         The Place at Greenway Apartments                  3333 Cummins Street
  60                1         The Crescent at Ballantyne                        15110 John J. Delaney Drive
  61                2         River Ranch Apartments                            6152 West Oakland Street
  62                1         Cambridge Center                                  38777 West Six Mile Road
  63                2         M Street Towers                                   1112 M Street NW
  64                1         Time Warner Call Center                           3140 West Arrowood Road
  65                1         Attic Self Storage Pool                           Various
65.01                         Attic Storage of Olathe                           11675 South Strang Line Road
65.02                         Attic Storage of Belton                           715 North Scott Avenue
65.03                         Attic Storage of Platte City                      2700 N.W. Prairie View Road
65.04                         Attic Storage of Kansas City                      2806 South 44th Street
65.05                         Attic Storage of Knobtown                         13824 Blue Parkway
65.06                         407Attic Storage of Needmore                      1702 East Kansas City Road
  66                1         Arcadia Gateway Center - Retail                   SWC Huntington Drive & 5th Avenue
  67                2         Tudor Heights Apartments                          10505 Evans Plaza
  68                1         Avenues North                                     9357 and 9365 Philips Highway
  69                2         Belleau Woods                                     4000, 4002, 4004, 4006, 4008, 4010, 4014, 4016,
                                                                                  4018, 4020, 4022 & 4024 Northwest Avenue
  70                1         Riveredge Pool                                    Various
70.01                         Riveredge II                                      42 Lukens Drive
70.02                         Riveredge III                                     59 Lukens Drive
70.03                         Riveredge IV                                      19 Lukens Drive
  71                1         Academy Square Retail                             1600 North Main Street
  72                1         100 Carillon Parkway                              100 Carillon Parkway
  73                1         PNC Bank Plaza                                    200 West Vine Street
  74                2         Avalon Park Apartments                            17000 SW Pacific Highway
  75                1         T-Mobile - Nashville, TN                          695 Grassmere Park
  76                2         Arbors at Fairview Apartments                     1000 Arbor Keats Drive
  77                1         Residence Inn - Virginia Beach, VA                3217 Atlantic Avenue
  78                1         Arcadia Gateway Center - Medical Office           SWC Huntington Drive & 5th Avenue
  79                1         Southtowne Plaza                                  3100 Oakland Avenue
  80                1         FBI - Albany, NY                                  200 McCarty Avenue
  81                2         Forest Ridge I Apartments(9)                      9706 Smoky Ridge Way
  82                1         MAC I and MAC II                                  828 and 801 Royal Parkway
  83                1         Lowe's - Auburn, NY                               299 Grant Avenue
  84                1         SHPS Building(10)                                 9305 East Via de Ventura
  85                2         The Grove at White Oak Apartments(11)             1710 West TC Jester Boulevard
  86                1         Dick's Sporting Goods - Sterling, VA              21070 Dulles Town Center
  87                2         Beechwood Apartments                              2700 Cottage Place
  88                1         Llanerch Shopping Center                          365-403 West Chester Pike (PA Route 3)
  89                1         Best Western - Everett, WA                        10210 Evergreen Way
  90                1         Heritage Place                                    227 French Landing Drive
  91                1         Atrium Crest                                      18333 Egret Bay Boulevard
  92                1         Woodberry Square Shopping Center                  7065 Allentown Road
  93                1         Camp Creek Center                                 8120 Camp Creek Boulevard
  94                1         Shops at Volente                                  11416 RR 620 North
  95                1         Big Dog Distribution Facility                     519 Lincoln County Parkway Extension
  96                2         Jefferson Trace Apartments                        2506 Atwell Drive
  97                2         The Venterra at Waters Edge Apartments            12330 Metric Boulevard
  98                1         Davis and Oak                                     1100-1118 Davis Street
  99                1         Landmark Village                                  2301 North Collins Street
 100                2         Village at Baker Creek                            3820, 3844, 3832, 3856, 3868, 3924, 3936, 3948, 3960
                                                                                  & 3972 Primrose Lane
 101                1         Holiday Inn - Bangor, ME(12)                      404 Odlin Road
 102                1         Summit Square                                     8410-8472 Federal Boulevard
 103                1         Parker Crossroads                                 10831 & 10841 South Crossroads Drive
 104                2         Park Manor Apartments                             22 Forest Circle
 105                1         43-45 Crossways Park Drive                        43-45 Crossways Park Drive
 106                2         Cougar Court Apartments                           697 Trejo Street
 107                1         St. Pete Post Office                              3135 1st Avenue
 108                1         Center Building                                   7825 Baymeadows Way
 109                1         First Commons Industrial Buildings(13)            4625 & 4635 West McDowell Road
 110                1         Abbotts Bridge Office                             10700 Abbotts Bridge Road
 111                1         543 - 561 Lincoln Avenue                          543 - 561 Lincoln Avenue; 743-749 Elm Street
 112                1         1900 West New Hampshire Street                    1900 West New Hampshire Street
 113                1         Rodeo Park Plaza                                  1659 & 1661 South Val Vista Drive 1663 East Ray Road
 114                2         The Hamilton                                      1025 Hancock Street
 115                2         Hinton Hollow Apartments(14)                      2812 Bakertown Road
 116                1         1 Derby Street                                    1 Derby Street
 117                1         Armitage and California                           2820 West Armitage Avenue & 2020 North California
                                                                                  Avenue
 118                2         Taylor Apartments                                 1660 & 1670 North 21st Road
 119                1         Courthouse Square                                 2124, 2126 and 2128 Jefferson Davis Highway
 120                1         4349 Duke Street                                  4349 Duke Street
 121                1         Wingate Inn - Birmingham, AL                      800 Corporate Ridge Drive
 122                1         Walgreens - Edgewater, MD                         3106 Solomons Island Road
 123                1         501 - 507 Chestnut Court                          501-507 Chestnut Court
 124                1         715-729 Elm Street                                715 - 729 Elm Street
 125                2         Chelsea Court Apartments                          7206 & 7208 NE 182nd Street
 126                2         Autumn Woods Apartments(15)                       9801 Autumnwood Circle
 127                1         Staples - Miami, FL                               9801 South Dixie Highway
 128                1         Liberty Mutual                                    9489 Interline Avenue
 129                2         Dempster and Judson                               1243-1249 Judson Avenue
 130                1         Care Free Mini Storage Pool                       Various
130.01                        Care Free Mini Storage North                      1264 Hadleyview Court NE
130.02                        Care Free Mini Storage South                      2907 South Broadway
 131                1         Fox Mill Centre Outparcels 2B and 5               6822-6826 Walton Lane; 6709-6723 Walton Lane
 132                1         CVS - San Antonio, TX                             9838 Potranco Road
 133                1         President Plaza                                   13310 - 13334 Ramona Boulevard
 134                2         Southern Woods Apartments(16)                     9100 Jenny Cook Circle
 135                1         788 Fairview                                      788 Fairview Drive
 136                1         Grand Oaks Plaza                                  6310 20th Street
 137                1         874-878 Green Bay                                 874 - 878 Green Bay Road
 138                1         Dollar General - Livingston, TN                   118 Tom Davis Road
 139                1         Walgreens - Houston, TX                           3900 Reveille Street
 140                1         25 West Anapamu Street                            25 West Anapamu Street
 141                1         Family Dollar Pool                                Various
141.01                        Catalina Springs Shopping Center                  9955-9975 Fuqua Street
141.02                        Family Dollar - Houston, TX                       5005 East Crosstimbers
 142                1         Advance Auto Grand Forks, ND                      3805 Gateway Drive

<CAPTION>
                                                                                                  Cut-Off Date
 Mortgage                                                                                         Loan Balance          Monthly P&I
Loan Number     City                  State           Zip Code          County                         ($)              Payments ($)
------------------------------------------------------------------------------------------------------------------------------------
<S>          <C>                      <C>              <C>            <C>                        <C>                         <C>
  1          Various                  Various          Various        Various                    318,976,000.00              IO
 1.01        Lebanon                    IN              46052         Boone
 1.02        Plainfield                 IN              46168         Hendricks
 1.03        McDonough                  GA              30253         Henry
 1.04        Plainfield                 IN              46168         Hendricks
 1.05        Lebanon                    IN              46052         Boone
 1.06        Savannah                   GA              31407         Chatham
 1.07        East Point                 GA              30344         Fulton
 1.08        Plainfield                 IN              46168         Hendricks
 1.09        Plainfield                 IN              46168         Hendricks
 1.10        Lebanon                    IN              46052         Boone
 1.11        Plainfield                 IN              46168         Hendricks
 1.12        Lebanon                    IN              46052         Boone
 1.13        East Point                 GA              30344         Fulton
 1.14        Duluth                     GA              30097         Gwinnett
 1.15        Lebanon                    IN              46052         Boone
 1.16        Duluth                     GA              30097         Gwinnett
 1.17        Dacula                     GA              30019         Gwinnett
 1.18        Duluth                     GA              30097         Gwinnett
 1.19        Atlanta                    GA              30331         Fulton
 1.20        Duluth                     GA              30097         Gwinnett
 1.21        Atlanta                    GA              30344         Fulton
 1.22        Duluth                     GA              30097         Gwinnett
 1.23        Savannah                   GA              31408         Chatham
 1.24        Atlanta                    GA              30331         Fulton
 1.25        Atlanta                    GA              30331         Fulton
 1.26        Atlanta                    GA              30331         Fulton
 1.27        Atlanta                    GA              30331         Fulton
 2.00        Various                  Various          Various        Various                    233,977,430.00              IO
 2.01        Selden                     NY              11784         Suffolk
 2.02        Hermitage                  TN              37076         Davidson
 2.03        Carle Place                NY              11514         Nassau
 2.04        Rutland                    VT              05701         Ruthland
 2.05        Christiansburg             VA              24073         Montgomery
 2.06        Torrington                 CT              6790          Litchfield
 2.07        Somersworth                NH              3878          Strafford
 2.08        Franklin                   TN              37064         Williamson
 2.09        Westfield                  MA              1085          Hampden
 2.10        Hartsdale                  NY              10530         Westchester
 2.11        Traverse City              MI              49684         Grand Traverse
 2.12        Bethlehem                  PA              18018         Lehigh
 2.13        South Windsor              CT              6074          Hartford
 2.14        Apple Valley               MN              55124         Dakota
 2.15        Fort Worth                 TX              76109         Tarrant
 2.16        Greensboro                 NC              27409         Guilford
 3.00        Riverside                  CA              92503         Riverside                  205,000,000.00              IO
 4.00        Various                  Various          Various        Various                    161,039,673.00              IO
 4.01        Lawrence                   NY              11559         Nassau
 4.02        Manchester                 CT              6042          Hartford
 4.03        Salisbury                  NC              28146         Rowan
 4.04        Kings Park                 NY              11754         Suffolk
 4.05        Lynn                       MA              1901          Essex
 4.06        Parsippany                 NJ              7054          Morris
 4.07        Wilmington                 NC              28405         New Hanover
 4.08        Rockville Centre           NY              11570         Nassau
 4.09        East Setauket              NY              11733         Suffolk
 4.1         East Setauket              NY              11733         Suffolk
 4.11        Lighthouse Point           FL              33064         Broward
 4.12        Pittsfield                 MA              1201          Berkshire
 4.13        Jackson                    MS              39211         Hinds
  5          Aurora                     IL              60504         DuPage                     150,000,000.00              IO
  6          Newport Beach              CA              92660         Orange                     132,000,000.00              IO
  7          Dallas                     TX              75270         Dallas                     129,000,000.00          761,023.81
  8          New York                   NY              10001         New York                   100,000,000.00              IO
  9          San Diego                  CA              92122         San Diego                   65,050,000.00              IO
  10         Deer Park                  IL              60010         Lake                        60,000,000.00              IO
  11         Minot                      ND              58701         Ward                        58,000,000.00          343,614.49
  12         San Diego                  CA              92122         San Diego                   57,150,000.00              IO
  13         Morrisville                PA              19067         Bucks                       56,800,000.00              IO
  14         Coral Gables               FL              33134         Miami-Dade                  52,000,000.00              IO
  15         Indianapolis               IN              46250         Marion                      50,000,000.00          290,200.21
  16         Providence                 RI              2903          Providence                  49,000,000.00          300,109.80
  17         Marietta                   GA              30067         Cobb                        37,000,000.00          224,696.28
17.01        Marietta                   GA              30067         Cobb
17.02        Marietta                   GA              30067         Cobb
17.03        Marietta                   GA              30067         Cobb
17.04        Marietta                   GA              30067         Cobb
17.05        Marietta                   GA              30067         Cobb
17.06        Marietta                   GA              30067         Cobb
  18         Union City                 CA              94587         Alameda                     35,000,000.00              IO
  19         Chula Vista                CA              91910         San Diego                   33,300,000.00          190,320.64
  20         Tempe                      AZ              85281         Maricopa                    33,150,000.00              IO
  21         Wellington                 FL              33414         Palm Beach                  30,750,000.00              IO
  22         Chandler                   AZ              85225         Maricopa                    30,315,000.00              IO
  23         Kansas City                MO              64155         Platte                      28,275,000.00              IO
  24         Cary                       NC              27513         Wake                        28,200,000.00              IO
  25         Flowood                    MS              39232         Rankin                      25,600,000.00          149,882.89
  26         Irving                     TX              75038         Dallas                      25,025,000.00              IO
  27         Houston                    TX              77069         Harris                      24,475,000.00          151,254.36
  28         San Diego                  CA              92123         San Diego                   23,000,000.00              IO
  29         Oxnard                     CA              93036         Ventura                     23,000,000.00              IO
  30         Skokie                     IL              60076         Cook                        22,600,000.00              IO
  31         Henderson                  NV              89012         Clark                       22,400,000.00              IO
  32         Gilbert                    AZ              85296         Maricopa                    22,400,000.00          135,779.01
  33         Tempe                      AZ              85283         Maricopa                    22,100,000.00              IO
  34         Las Vegas                  NV              89122         Clark                       21,000,000.00              IO
  35         Norwalk                    CT              6854          Fairfield                   20,000,000.00          121,975.15
  36         New Castle                 DE              19720         New Castle                  18,800,000.00          108,045.43
  37         Pembroke Pines             FL              33026         Broward                     18,750,000.00              IO
  38         Wilmington                 DE              19720         New Castle                  18,400,000.00          105,746.59
  39         Quakertown                 PA              18951         Bucks                       18,080,000.00              IO
  40         Greenville                 NC              27834         Pitt                        18,000,000.00              IO
  41         Seymour                    TN              37865         Sevier                      17,600,000.00              IO
  42         San Francisco              CA              94133         San Francisco               17,500,000.00              IO
  43         Irving                     TX              75038         Dallas                      17,500,000.00              IO
  44         Newnan                     GA              30265         Coweta                      17,500,000.00              IO
  45         Tempe                      AZ              85284         Maricopa                    17,300,000.00              IO
  46         Palm Beach Gardens         FL              33410         Palm Beach                  17,250,000.00              IO
  47         Ontario                    CA              91762         San Bernardino              17,000,000.00              IO
  48         Tucson                     AZ              85711         Pima                        17,000,000.00          101,595.93
  49         Knoxville                  TN              37922         Knox                        16,185,000.00              IO
  50         Fresno                     CA              93710         Fresno                      16,043,000.00              IO
  51         Englewood                  CO              80112         Douglas                     15,500,000.00           91,440.84
  52         Indio                      CA              92201         Riverside                   15,500,000.00              IO
  53         Las Vegas                  NV              89117         Clark                       15,500,000.00              IO
  54         Knoxville                  TN              37931         Knox                        15,200,000.00              IO
  55         Savannah                   GA              31405         Chatham                     15,120,000.00              IO
  56         Tampa                      FL              33624         Hillsborough                14,950,000.00              IO
  57         Arcadia                    CA              91006         Los Angeles                 14,880,000.00              IO
  58         Everett                    WA              98208         Snohomish                   14,700,000.00              IO
  59         Houston                    TX              77036         Harris                      14,700,000.00              IO
  60         Charlotte                  NC              28277         Mecklenburg                 14,450,000.00           84,418.10
  61         Chandler                   AZ              85226         Maricopa                    14,050,000.00              IO
  62         Livonia                    MI              48152         Wayne                       13,375,000.00           77,883.02
  63         Washington                 DC              20005         District Of Columbia        13,300,000.00           76,520.32
  64         Charlotte                  NC              28273         Mecklenburg                 13,025,000.00              IO
  65         Various                  Various          Various        Various                     13,000,000.00              IO
65.01        Olathe                     KS              66062         Johnson
65.02        Belton                     MO              64012         Cass
65.03        Platte City                MO              64079         Platte
65.04        Kansas City                KS              66106         Wyandotte
65.05        Kansas City                MO              64139         Jackson
65.06        Olathe                     KS              66061         Johnson
  66         Arcadia                    CA              91006         Los Angeles                 12,820,000.00              IO
  67         Omaha                      NE              68134         Douglas                     12,500,000.00           72,708.56
  68         Jacksonville               FL              32256         Duval                       12,300,000.00           76,053.49
  69         Bellingham                 WA              98226         Whatcom                     12,200,000.00           71,195.89
  70         New Castle                 DE              19720         New Castle                  12,160,000.00           69,884.70
70.01        New Castle                 DE              19720         New Castle
70.02        New Castle                 DE              19720         New Castle
70.03        New Castle                 DE              19720         New Castle
  71         Logan                      UT              84341         Cache                       12,000,000.00              IO
  72         Saint Petersburg           FL              33716         Pinellas                    11,500,000.00           68,210.70
  73         Lexington                  KY              40507         Fayette                     11,350,000.00           65,659.83
  74         Tigard                     OR              97224         Washington                  11,000,000.00              IO
  75         Nashville                  TN              37211         Davidson                    10,885,000.00           62,419.88
  76         Simpsonville               SC              29680         Greenville                  10,500,000.00           61,035.23
  77         Virginia Beach             VA              23451         Virginia Beach City         10,500,000.00           66,883.53
  78         Arcadia                    CA              91006         Los Angeles                 10,300,000.00              IO
  79         Indiana                    PA              15701         Indiana                     10,200,000.00           63,984.07
  80         Albany                     NY              14202         Albany                      10,137,000.00              IO
  81         Knoxville                  TN              37931         Knox                        9,800,000.00               IO
  82         Nashville                  TN              37214         Davidson                    9,800,000.00            56,755.10
  83         Auburn                     NY              13021         Cayuga                      9,500,000.00               IO
  84         Scottsdale                 AZ              85258         Maricopa                    9,400,000.00            53,282.57
  85         Houston                    TX              77008         Harris                      9,000,000.00            50,201.21
  86         Sterling                   VA              20166         Loundoun                    8,982,796.47            52,807.77
  87         Greensboro                 NC              27455         Guilford                    8,625,000.00            49,242.72
  88         Haverford Township         PA              19083         Delaware                    8,450,000.00            50,174.12
  89         Everett                    WA              98204         Snohomish                   8,400,000.00            54,378.35
  90         Nashville                  TN              37228         Davidson                    8,240,000.00            47,720.61
  91         Houston                    TX              77058         Harris                      8,150,000.00            47,302.63
  92         Temple Hills               MD              20748         Prince Georges              8,000,000.00            47,553.35
  93         Olive Branch               MS              38654         DeSoto                      7,800,000.00               IO
  94         Austin                     TX              78726         Travis                      7,680,600.00            46,692.97
  95         Lincolnton                 NC              28093         Lincoln                     7,630,000.00            47,726.10
  96         Richmond                   VA              23234         City of Richmond            7,250,000.00            41,073.77
  97         Austin                     TX              78758         Travis                      7,100,000.00               IO
  98         Evanston                   IL              60201         Cook                        7,030,000.00               IO
  99         Arlington                  TX              76011         Tarrant                     7,000,000.00            41,430.02
 100         Bellingham                 WA              98226         Whatcom                     7,000,000.00            49,807.44
 101         Bangor                     ME              4401          Penobscot                   6,700,000.00            73,712.60
 102         Westminster                CO              80031         Adams                       6,700,000.00            39,526.04
 103         Parker                     CO              80134         Douglas                     6,650,000.00               IO
 104         Newnan                     GA              30265         Coweta                      6,500,000.00               IO
 105         Woodbury                   NY              11797         Nassau                      6,400,000.00            39,156.49
 106         Rexburg                    ID              83440         Madison                     6,250,000.00            36,473.30
 107         Saint Petersburg           FL              33730         Pinellas                    6,250,000.00            44,058.81
 108         Jacksonville               FL              32256         Duval                       6,200,000.00            36,695.16
 109         Phoenix                    AZ              85035         Maricopa                    6,200,000.00               IO
 110         Duluth                     GA              30097         Fulton                      5,671,000.00            35,658.30
 111         Winnetka                   IL              60093         Cook                        5,640,000.00               IO
 112         Orlando                    FL              32804         Orange                      5,400,000.00            31,375.85
 113         Gilbert                    AZ              85296         Maricopa                    5,000,000.00               IO
 114         Quincy                     MA              2169          Norfolk                     5,000,000.00            28,925.04
 115         Knoxville                  TN              37931         Knox                        4,840,000.00               IO
 116         Hingham                    MA              2043          Plymouth                    4,750,000.00            28,448.12
 117         Chicago                    IL              60647         Cook                        4,750,000.00            27,719.71
 118         Arlington                  VA              22209         Arlington                   4,600,000.00            26,669.28
 119         Stafford                   VA              22554         Stafford                    4,400,000.00            25,901.25
 120         Alexandria                 VA              22304         Alexandria City             4,150,000.00               IO
 121         Birmingham                 AL              35242         Shelby                      4,000,000.00            26,115.45
 122         Edgewater                  MD              21037         Anne Arundel                3,795,971.97            21,983.03
 123         Winnetka                   IL              60093         Cook                        3,620,000.00               IO
 124         Winnetka                   IL              60093         Cook                        3,590,000.00               IO
 125         Kenmore                    WA              98028         King                        3,496,468.82            20,827.01
 126         Knoxville                  TN              37932         Knox                        3,220,000.00               IO
 127         Miami                      FL              33156         Miami-Dade                  3,196,721.89            18,878.11
 128         Baton Rouge                LA              70809         East Baton Rouge            3,040,000.00            18,089.75
 129         Evanston                   IL              60201         Cook                        2,915,000.00               IO
 130         Rochester                  MN             Various        Olmstead                    2,900,000.00            17,331.07
130.01       Rochester                  MN              55906         Olmstead
130.02       Rochester                  MN              55904         Olmstead
 131         Gloucester                 VA              23061         Gloucester                  2,800,000.00            16,215.74
 132         San Antonio                TX              78251         Bexar                       2,690,000.00               IO
 133         Baldwin Park               CA              91706         Los Angeles                 2,497,511.24            14,988.76
 134         Knoxville                  TN              37923         Knox                        2,460,000.00               IO
 135         Carson City                NV              89701         Carson City                 2,300,000.00            13,671.59
 136         Vero Beach                 FL              32966         Indian River                2,142,000.00            12,459.34
 137         Winnetka                   IL              60093         Cook                        2,100,000.00               IO
 138         Livingston                 TN              38570         Overton                     1,856,000.00               IO
 139         Houston                    TX              77087         Harris                      1,732,000.00            10,428.80
 140         Santa Barbara              CA              93101         Santa Barbara               1,600,000.00            9,572.24
 141         Houston                    TX             Various        Harris                      1,500,000.00            9,031.87
141.01       Houston                    TX              77075         Harris
141.02       Houston                    TX              77016         Harris
 142         Grand Forks                ND              58203         Grand Forks                  840,000.00                IO

<CAPTION>
                                                                                        Original         Remaining
                                                                                         Term to          Term to       Maturity
 Mortgage       Grace           Mortgage             Number of         Unit of         Maturity or      Maturity or       Date
Loan Number     Days            Rate (%)               Units           Measure          ARD (Mos.)       ARD (Mos.)      or ARD
------------------------------------------------------------------------------------------------------------------------------------
<S>        <C>                   <C>                 <C>               <C>                 <C>               <C>        <C>
  1        3 (once a year)       5.9140%             8,324,477         Sq. Ft.             120               119        11/11/16
 1.01                                                 842,000          Sq. Ft.
 1.02                                                 650,760          Sq. Ft.
 1.03                                                 759,300          Sq. Ft.
 1.04                                                 600,576          Sq. Ft.
 1.05                                                 689,009          Sq. Ft.
 1.06                                                 200,000          Sq. Ft.
 1.07                                                 607,650          Sq. Ft.
 1.08                                                 481,874          Sq. Ft.
 1.09                                                 450,000          Sq. Ft.
 1.10                                                 418,400          Sq. Ft.
 1.11                                                 426,326          Sq. Ft.
 1.12                                                 395,679          Sq. Ft.
 1.13                                                 301,200          Sq. Ft.
 1.14                                                 250,000          Sq. Ft.
 1.15                                                 250,000          Sq. Ft.
 1.16                                                 101,600          Sq. Ft.
 1.17                                                 108,400          Sq. Ft.
 1.18                                                 86,000           Sq. Ft.
 1.19                                                 60,177           Sq. Ft.
 1.20                                                 89,636           Sq. Ft.
 1.21                                                 129,842          Sq. Ft.
 1.22                                                 79,110           Sq. Ft.
 1.23                                                 150,000          Sq. Ft.
 1.24                                                 44,306           Sq. Ft.
 1.25                                                 61,318           Sq. Ft.
 1.26                                                 57,168           Sq. Ft.
 1.27                                                 34,146           Sq. Ft.
 2.00             2              5.4400%             3,281,027         Sq. Ft.             120               120        12/09/16
 2.01                                                 175,086          Sq. Ft.
 2.02                                                 278,017          Sq. Ft.
 2.03                                                 89,704           Sq. Ft.
 2.04                                                 224,514          Sq. Ft.
 2.05                                                 181,055          Sq. Ft.
 2.06                                                 125,710          Sq. Ft.
 2.07                                                 146,947          Sq. Ft.
 2.08                                                 264,360          Sq. Ft.
 2.09                                                 103,903          Sq. Ft.
 2.10                                                 191,085          Sq. Ft.
 2.11                                                 387,273          Sq. Ft.
 2.12                                                 372,243          Sq. Ft.
 2.13                                                 12,000           Sq. Ft.
 2.14                                                 124,937          Sq. Ft.
 2.15                                                 197,424          Sq. Ft.
 2.16                                                 406,769          Sq. Ft.
 3.00                            5.3050%              564,247          Sq. Ft.             60                 58        10/11/11
 4.00             2              5.4200%             1,777,884         Sq. Ft.             84                 84        12/09/13
 4.01                                                 61,295           Sq. Ft.
 4.02                                                 103,931          Sq. Ft.
 4.03                                                 349,433          Sq. Ft.
 4.04                                                 71,940           Sq. Ft.
 4.05                                                 78,092           Sq. Ft.
 4.06                                                 159,454          Sq. Ft.
 4.07                                                 143,763          Sq. Ft.
 4.08                                                 44,131           Sq. Ft.
 4.09                                                 84,480           Sq. Ft.
 4.1                                                  77,458           Sq. Ft.
 4.11                                                 183,867          Sq. Ft.
 4.12                                                 198,473          Sq. Ft.
 4.13                                                 221,567          Sq. Ft.
  5                              5.3700%              552,388          Sq. Ft.             120               119        11/11/16
  6                              6.1040%               1,052            Units              120               118        10/11/16
  7                              5.8500%             1,729,294         Sq. Ft.             120               119        11/11/16
  8                              5.7600%              27,900           Sq. Ft.             120               120        12/11/16
  9                              5.4900%                400             Units              120               120        12/11/16
  10                             5.5900%              340,369          Sq. Ft.             60                 58        10/11/11
  11                             5.8891%              593,626          Sq. Ft.             120               119        11/11/16
  12                             5.4900%                354             Units              120               120        12/11/16
  13                             5.7900%               1,079             Pads              120               119        11/11/16
  14                             5.8800%              174,310          Sq. Ft.             120               119        11/11/16
  15                             5.7000%                996             Units              120               118        10/11/16
  16                             6.2000%                274             Rooms              120               120        12/11/16
  17                             6.1200%              469,667          Sq. Ft.             120               119        11/11/16
17.01                                                 109,837          Sq. Ft.
17.02                                                 108,004          Sq. Ft.
17.03                                                 68,991           Sq. Ft.
17.04                                                 86,006           Sq. Ft.
17.05                                                 57,903           Sq. Ft.
17.06                                                 38,926           Sq. Ft.
  18                             5.6600%              322,318          Sq. Ft.             120               119        11/11/16
  19                             6.0200%              129,315          Sq. Ft.             120               119        11/11/16
  20                             5.9200%                288             Units              120               120        12/11/16
  21                             5.5700%              130,838          Sq. Ft.             120               120        12/11/16
  22                             6.0500%                352             Units              60                 60        12/11/11
  23                             5.3800%              245,590          Sq. Ft.             120               114        06/11/16
  24                             5.4850%              212,267          Sq. Ft.             120               118        10/11/16
  25                             5.7800%              211,749          Sq. Ft.             120               119        11/11/16
  26                             5.7000%              226,904          Sq. Ft.             120               118        10/11/16
  27                             6.2850%                382             Units              120               117        09/11/16
  28                             5.7600%                184             Units              120               118        10/11/16
  29                             5.8500%                168             Units              120               119        11/11/16
  30                             5.5300%              293,643          Sq. Ft.             120               119        11/11/16
  31                             5.5800%                240             Units              60                 60        12/11/11
  32              10             6.1025%              102,777          Sq. Ft.             120               120        12/01/16
  33                             6.0900%                247             Units              60                 60        12/11/11
  34                             5.7900%              107,705          Sq. Ft.             120               119        11/11/16
  35                             6.1600%              185,532          Sq. Ft.             120               119        11/11/16
  36                             5.6100%              126,935          Sq. Ft.             120               119        11/11/16
  37                             5.8400%              91,845           Sq. Ft.             120               120        12/11/16
  38                             5.6100%              98,500           Sq. Ft.             120               119        11/11/16
  39                             5.7900%                356              Pads              120               119        11/11/16
  40                             5.7600%                457             Units              120               119        11/11/16
  41                             6.0200%                222             Units              120               118        10/11/16
  42                             5.6500%              88,338           Sq. Ft.             120               118        10/11/16
  43                             5.7000%              159,212          Sq. Ft.             120               118        10/11/16
  44                             5.6400%              110,178          Sq. Ft.             120               118        10/11/16
  45                             5.7000%              137,484          Sq. Ft.             60                 60        12/11/11
  46                             5.8400%              85,022           Sq. Ft.             120               120        12/11/16
  47                             5.7900%              95,420           Sq. Ft.             120               119        11/11/16
  48                             5.9700%                142             Rooms              120               120        12/11/16
  49                             5.2600%                262             Units              120               120        12/11/16
  50                             5.6300%              122,605          Sq. Ft.             120               120        12/11/16
  51                             5.8500%              175,213          Sq. Ft.             120               120        12/11/16
  52                             6.5050%                186             Units              60                 57        09/11/11
  53                             5.8000%              88,455           Sq. Ft.             120               120        12/11/16
  54                             6.0200%                226             Units              120               118        10/11/16
  55                             5.6300%              105,084          Sq. Ft.             120               120        12/11/16
  56                             5.6200%              138,772          Sq. Ft.             120               120        12/11/16
  57                             6.0700%              64,828           Sq. Ft.             120               119        11/11/16
  58                             5.8000%                200             Units              60                 59        11/11/11
  59                             5.6100%                219             Units              60                 60        12/11/11
  60       3 (once a year)       5.7600%              59,472           Sq. Ft.             120               119        11/11/16
  61                             6.4200%                186             Units              60                 60        12/11/11
  62                             5.7300%              116,339          Sq. Ft.             120               119        11/11/16
  63                             5.6200%                124             Units              120               120        12/11/16
  64                             5.5700%              113,600          Sq. Ft.             120               119        11/11/16
  65                             5.9100%              533,653          Sq. Ft.             120               119        11/11/16
65.01                                                 117,725          Sq. Ft.
65.02                                                 123,733          Sq. Ft.
65.03                                                 73,600           Sq. Ft.
65.04                                                 71,085           Sq. Ft.
65.05                                                 111,010          Sq. Ft.
65.06                                                 36,500           Sq. Ft.
  66                             6.0700%              43,456           Sq. Ft.             120               119        11/11/16
  67                             5.7200%                418             Units              120               119        11/11/16
  68                             6.2900%              98,749           Sq. Ft.             120               117        09/11/16
  69                             5.7500%                234             Units              120               120        12/11/16
  70                             5.6100%              244,158          Sq. Ft.             120               119        11/11/16
70.01                                                 120,300          Sq. Ft.
70.02                                                 62,000           Sq. Ft.
70.03                                                 61,858           Sq. Ft.
  71                             5.4500%              124,900          Sq. Ft.             120               120        12/11/16
  72                             5.9000%              79,660           Sq. Ft.             120               119        11/11/16
  73                             5.6700%              92,815           Sq. Ft.             120               120        12/11/16
  74                             5.8900%                192             Units              120               120        12/11/16
  75                             5.5900%              69,287           Sq. Ft.             120               120        12/11/16
  76                             5.7140%                168             Units              120               119        11/11/16
  77                             5.8800%                72              Rooms              120               119        11/11/16
  78                             6.0700%              48,455           Sq. Ft.             120               119        11/11/16
  79                             5.7200%              236,345          Sq. Ft.             120               120        12/11/16
  80                             5.5000%              95,500           Sq. Ft.             120               119        11/11/16
  81                             6.0200%                140             Units              120               118        10/11/16
  82                             5.6800%              125,290          Sq. Ft.             120               120        12/11/16
  83                             5.6000%              130,316          Sq. Ft.             120               119        11/11/16
  84                             5.9500%              64,835           Sq. Ft.             120               120        12/11/16
  85                             5.3400%                156             Units              120               118        10/11/16
  86                             5.8000%              75,000           Sq. Ft.             120               118        10/11/16
  87                             5.5500%                208             Units              120               120        12/11/16
  88                             5.9100%              41,151           Sq. Ft.             120               118        10/11/16
  89                             6.0500%                103             Rooms              120               119        11/11/16
  90                             5.6800%              107,782          Sq. Ft.             120               120        12/11/16
  91                             5.7000%              106,320          Sq. Ft.             120               119        11/11/16
  92                             5.9200%              53,110           Sq. Ft.             120               120        12/11/16
  93                             5.7500%              56,004           Sq. Ft.             120               119        11/11/16
  94                             6.1300%              30,868           Sq. Ft.             120               116        08/11/16
  95                             6.4000%              229,000          Sq. Ft.             60                 60        12/11/11
  96                             5.4800%                224             Units              120               120        12/11/16
  97                             5.8200%                184             Units              60                 58        10/11/11
  98                             5.8800%                52              Units              120               119        11/11/16
  99                             5.8800%              72,112           Sq. Ft.             120               119        11/11/16
 100                             5.8300%                134             Units              240               240        12/11/26
 101                             5.8000%                207             Rooms              120               120        12/11/16
 102                             5.8500%              96,153           Sq. Ft.             120               118        10/11/16
 103                             5.6000%              52,328           Sq. Ft.             120               120        12/11/16
 104                             5.7500%                114             Units              120               119        11/11/16
 105                             6.1900%              35,011           Sq. Ft.             120               118        10/11/16
 106                             5.7500%                149             Units              120               119        11/11/16
 107                             5.8000%              159,494          Sq. Ft.             120               120        12/11/16
 108                             5.8800%              95,739           Sq. Ft.             120               119        11/11/16
 109                             5.8100%              99,436           Sq. Ft.             120               119        11/11/16
 110                             6.4500%              68,888           Sq. Ft.             120               117        09/11/16
 111                             5.8800%              24,650           Sq. Ft.             120               119        11/11/16
 112                             5.7100%              144,889          Sq. Ft.             120               118        10/11/16
 113                             5.6900%              24,503           Sq. Ft.             120               120        12/11/16
 114                             5.6700%                48              Units              120               120        12/11/16
 115                             6.0200%                76              Units              120               118        10/11/16
 116                             5.9900%              16,206           Sq. Ft.             120               120        12/11/16
 117                             5.7500%              18,275           Sq. Ft.             120               120        12/11/16
 118                             5.6900%                28              Units              120               119        11/11/16
 119                             5.8300%              26,783           Sq. Ft.             120               119        11/11/16
 120                             5.8300%              21,578           Sq. Ft.             120               120        12/11/16
 121                             6.1400%                100             Rooms              120               120        12/11/16
 122                             5.6700%              14,820           Sq. Ft.             120               119        11/11/16
 123                             5.8800%              20,700           Sq. Ft.             120               119        11/11/16
 124                             5.8800%              20,475           Sq. Ft.             120               119        11/11/16
 125                             5.9300%                41              Units              120               119        11/11/16
 126                             6.0200%                60              Units              120               118        10/11/16
 127                             5.8500%              16,827           Sq. Ft.             120               119        11/11/16
 128                             5.9300%              24,000           Sq. Ft.             120               119        11/11/16
 129                             5.8800%                19              Units              120               119        11/11/16
 130                             5.9700%              72,213           Sq. Ft.             120               120        12/11/16
130.01                                                30,713           Sq. Ft.
130.02                                                41,500           Sq. Ft.
 131                             5.6800%              14,990           Sq. Ft.             120               120        12/11/16
 132                             5.2800%              13,813           Sq. Ft.             120               116        08/11/16
 133                             6.0000%              24,621           Sq. Ft.             120               119        11/11/16
 134                             6.0200%                41              Units              120               118        10/11/16
 135                             5.9200%              30,000           Sq. Ft.             120               119        11/11/16
 136                             5.7200%               7,200           Sq. Ft.             120               120        12/11/16
 137                             5.8800%              12,900           Sq. Ft.             120               119        11/11/16
 138                             5.7900%              24,341           Sq. Ft.             120               115        07/11/16
 139                             6.0400%              12,915           Sq. Ft.             120               120        12/11/16
 140                             5.9800%              10,548           Sq. Ft.             120               120        12/11/16
 141                             6.0400%              24,748           Sq. Ft.             120               120        12/11/16
141.01                                                15,568           Sq. Ft.
141.02                                                 9,180           Sq. Ft.
 142                             5.8700%               7,000           Sq. Ft.             120               117        09/11/16

<CAPTION>
                 Original        Remaining                            Master
Mortgage           Amort           Amort                            Servicing                                          Anticipated
  Loan             Term             Term           Ground              Fee                                              Repayment
 Number           (Mos.)           (Mos.)           Lease              Rate                      ARD Loan                  Date
------------------------------------------------------------------------------------------------------------------------------------
<S>                 <C>              <C>      <C>                     <C>                             <C>              <C>
  1                 IO               IO            Various            0.02000%                        N
 1.01                                                Fee
 1.02                                                Fee
 1.03                                                Fee
 1.04                                                Fee
 1.05                                                Fee
 1.06                                             Leasehold
 1.07                                                Fee
 1.08                                                Fee
 1.09                                                Fee
 1.10                                                Fee
 1.11                                                Fee
 1.12                                                Fee
 1.13                                                Fee
 1.14                                                Fee
 1.15                                                Fee
 1.16                                                Fee
 1.17                                                Fee
 1.18                                                Fee
 1.19                                                Fee
 1.20                                                Fee
 1.21                                                Fee
 1.22                                                Fee
 1.23                                                Fee
 1.24                                                Fee
 1.25                                                Fee
 1.26                                                Fee
 1.27                                                Fee
 2.00               IO               IO            Various            0.02000%                        N
 2.01                                                Fee
 2.02                                               Both
 2.03                                                Fee
 2.04                                                Fee
 2.05                                                Fee
 2.06                                                Fee
 2.07                                                Fee
 2.08                                                Fee
 2.09                                                Fee
 2.10                                                Fee
 2.11                                                Fee
 2.12                                                Fee
 2.13                                                Fee
 2.14                                                Fee
 2.15                                             Leasehold
 2.16                                                Fee
 3.00               IO               IO             Both              0.02000%                        N
 4.00               IO               IO              Fee              0.02000%                        N
 4.01                                                Fee
 4.02                                                Fee
 4.03                                                Fee
 4.04                                                Fee
 4.05                                                Fee
 4.06                                                Fee
 4.07                                                Fee
 4.08                                                Fee
 4.09                                                Fee
 4.1                                                 Fee
 4.11                                                Fee
 4.12                                                Fee
 4.13                                                Fee
  5                 IO               IO              Fee              0.02000%                        N
  6                 IO               IO              Fee              0.02000%                        N
  7                360              360             Both              0.02000%                        N
  8                 IO               IO              Fee              0.02000%                        N
  9                 IO               IO              Fee              0.02000%                        N
  10                IO               IO              Fee              0.02000%                        N
  11               360              360              Fee              0.02000%                        N
  12                IO               IO              Fee              0.02000%                        N
  13                IO               IO              Fee              0.02000%                        N
  14                IO               IO              Fee              0.02000%                        N
  15               360              360              Fee              0.02000%                        N
  16               360              360              Fee              0.03500%                        N
  17               360              360              Fee              0.02000%                        N
17.01                                                Fee
17.02                                                Fee
17.03                                                Fee
17.04                                                Fee
17.05                                                Fee
17.06                                                Fee
  18                IO               IO              Fee              0.03000%                        N
  19               420              420              Fee              0.02000%                        N
  20                IO               IO              Fee              0.02000%                        Y                12/11/2016
  21                IO               IO              Fee              0.02000%                        N
  22                IO               IO              Fee              0.02000%                        N
  23                IO               IO              Fee              0.02000%                        Y                6/11/2016
  24                IO               IO              Fee              0.02000%                        N
  25               360              360              Fee              0.05000%                        N
  26                IO               IO              Fee              0.02000%                        N
  27               360              360              Fee              0.02000%                        N
  28                IO               IO              Fee              0.02000%                        N
  29                IO               IO              Fee              0.02000%                        N
  30                IO               IO              Fee              0.05000%                        N
  31                IO               IO              Fee              0.02000%                        N
  32               360              360              Fee              0.02000%                        N
  33                IO               IO              Fee              0.02000%                        N
  34                IO               IO              Fee              0.02000%                        N
  35               360              360              Fee              0.02000%                        N
  36               360              360              Fee              0.02000%                        N
  37                IO               IO              Fee              0.02000%                        N
  38               360              360              Fee              0.02000%                        N
  39                IO               IO              Fee              0.02000%                        N
  40                IO               IO              Fee              0.02000%                        N
  41                IO               IO              Fee              0.02000%                        N
  42                IO               IO              Fee              0.02000%                        N
  43                IO               IO              Fee              0.02000%                        N
  44                IO               IO              Fee              0.02000%                        N
  45                IO               IO              Fee              0.02000%                        N
  46                IO               IO              Fee              0.02000%                        N
  47                IO               IO             Both              0.05000%                        N
  48               360              360              Fee              0.02000%                        N
  49                IO               IO              Fee              0.02000%                        N
  50                IO               IO              Fee              0.02000%                        N
  51               360              360              Fee              0.02000%                        N
  52                IO               IO              Fee              0.02000%                        N
  53                IO               IO              Fee              0.02000%                        N
  54                IO               IO              Fee              0.02000%                        N
  55                IO               IO              Fee              0.02000%                        N
  56                IO               IO              Fee              0.02000%                        N
  57                IO               IO              Fee              0.02000%                        N
  58                IO               IO              Fee              0.02000%                        N
  59                IO               IO              Fee              0.06000%                        N
  60               360              360              Fee              0.02000%                        Y                11/11/2016
  61                IO               IO              Fee              0.02000%                        N
  62               360              360              Fee              0.02000%                        N
  63               360              360              Fee              0.02000%                        N
  64                IO               IO              Fee              0.02000%                        N
  65                IO               IO              Fee              0.02000%                        N
65.01                                                Fee
65.02                                                Fee
65.03                                                Fee
65.04                                                Fee
65.05                                                Fee
65.06                                                Fee
  66                IO               IO              Fee              0.02000%                        N
  67               360              360              Fee              0.02000%                        N
  68               360              360              Fee              0.02000%                        N
  69               360              360              Fee              0.02000%                        N
  70               360              360              Fee              0.02000%                        N
70.01                                                Fee
70.02                                                Fee
70.03                                                Fee
  71                IO               IO              Fee              0.02000%                        N
  72               360              360              Fee              0.02000%                        Y                11/11/2016
  73               360              360              Fee              0.02000%                        N
  74                IO               IO              Fee              0.02000%                        N
  75               360              360              Fee              0.02000%                        N
  76               360              360              Fee              0.02000%                        N
  77               300              300             Both              0.02000%                        N
  78                IO               IO              Fee              0.02000%                        N
  79               300              300              Fee              0.02000%                        N
  80                IO               IO              Fee              0.02000%                        Y                11/11/2016
  81                IO               IO              Fee              0.02000%                        N
  82               360              360              Fee              0.02000%                        N
  83                IO               IO              Fee              0.02000%                        N
  84               420              420           Leasehold           0.02000%                        N
  85               360              360              Fee              0.02000%                        N
  86               360              358           Leasehold           0.02000%                        Y                10/11/2016
  87               360              360              Fee              0.02000%                        N
  88               360              360              Fee              0.02000%                        N
  89               300              300              Fee              0.02000%                        N
  90               360              360              Fee              0.02000%                        N
  91               360              360              Fee              0.06000%                        N
  92               360              360              Fee              0.02000%                        N
  93                IO               IO              Fee              0.02000%                        N
  94               360              360              Fee              0.07000%                        N
  95               360              360              Fee              0.02000%                        Y                12/11/2011
  96               360              360              Fee              0.02000%                        N
  97                IO               IO              Fee              0.06000%                        N
  98                IO               IO              Fee              0.02000%                        N
  99               360              360              Fee              0.07000%                        N
 100               240              240              Fee              0.02000%                        N
 101               120              120              Fee              0.02000%                        N
 102               360              360              Fee              0.02000%                        N
 103                IO               IO              Fee              0.07000%                        N
 104                IO               IO              Fee              0.06000%                        N
 105               360              360              Fee              0.02000%                        N
 106               360              360              Fee              0.02000%                        N
 107               240              240              Fee              0.02000%                        Y                12/11/2016
 108               360              360              Fee              0.02000%                        N
 109                IO               IO              Fee              0.07000%                        N
 110               360              360              Fee              0.02000%                        N
 111                IO               IO              Fee              0.02000%                        N
 112               360              360              Fee              0.02000%                        N
 113                IO               IO              Fee              0.02000%                        N
 114               360              360              Fee              0.02000%                        N
 115                IO               IO              Fee              0.02000%                        N
 116               360              360              Fee              0.02000%                        N
 117               360              360              Fee              0.02000%                        N
 118               360              360              Fee              0.02000%                        N
 119               360              360              Fee              0.02000%                        N
 120                IO               IO              Fee              0.02000%                        N
 121               300              300              Fee              0.09000%                        N
 122               360              359           Leasehold           0.02000%                        Y                11/11/2016
 123                IO               IO              Fee              0.02000%                        N
 124                IO               IO              Fee              0.02000%                        N
 125               360              359              Fee              0.02000%                        N
 126                IO               IO              Fee              0.02000%                        N
 127               360              359         Subleasehold          0.02000%                        N
 128               360              360              Fee              0.02000%                        N
 129                IO               IO              Fee              0.02000%                        N
 130               360              360              Fee              0.02000%                        N
130.01                                               Fee
130.02                                               Fee
 131               360              360              Fee              0.02000%                        N
 132                IO               IO              Fee              0.02000%                        Y                8/11/2016
 133               360              359              Fee              0.02000%                        N
 134                IO               IO              Fee              0.02000%                        N
 135               360              360              Fee              0.02000%                        N
 136               360              360              Fee              0.02000%                        N
 137                IO               IO              Fee              0.02000%                        N
 138                IO               IO              Fee              0.02000%                        Y                7/11/2016
 139               360              360              Fee              0.02000%                        N
 140               360              360              Fee              0.02000%                        N
 141               360              360              Fee              0.02000%                        N
141.01                                               Fee
141.02                                               Fee
 142                IO               IO              Fee              0.02000%                        Y                9/11/2016

<CAPTION>
Mortgage
  Loan                                                                                                    Loan         Environmental
 Number                                      Additional Interest Rate                                  Originator        Insurance
------------------------------------------------------------------------------------------------------------------------------------
<S>        <C>                                                                                          <C>                  <C>
  1                                                                                                     Wachovia             N
 1.01                                                                                                                        N
 1.02                                                                                                                        N
 1.03                                                                                                                        N
 1.04                                                                                                                        N
 1.05                                                                                                                        N
 1.06                                                                                                                        N
 1.07                                                                                                                        N
 1.08                                                                                                                        N
 1.09                                                                                                                        N
 1.10                                                                                                                        N
 1.11                                                                                                                        N
 1.12                                                                                                                        N
 1.13                                                                                                                        N
 1.14                                                                                                                        N
 1.15                                                                                                                        N
 1.16                                                                                                                        N
 1.17                                                                                                                        N
 1.18                                                                                                                        N
 1.19                                                                                                                        N
 1.20                                                                                                                        N
 1.21                                                                                                                        N
 1.22                                                                                                                        N
 1.23                                                                                                                        N
 1.24                                                                                                                        N
 1.25                                                                                                                        N
 1.26                                                                                                                        N
 1.27                                                                                                                        N
 2.00                                                                                                   Wachovia             N
 2.01                                                                                                                        N
 2.02                                                                                                                        N
 2.03                                                                                                                        N
 2.04                                                                                                                        N
 2.05                                                                                                                        N
 2.06                                                                                                                        N
 2.07                                                                                                                        N
 2.08                                                                                                                        N
 2.09                                                                                                                        N
 2.10                                                                                                                        N
 2.11                                                                                                                        N
 2.12                                                                                                                        N
 2.13                                                                                                                        N
 2.14                                                                                                                        N
 2.15                                                                                                                        N
 2.16                                                                                                                        N
 3.00                                                                                                   Wachovia             N
 4.00                                                                                                   Wachovia             N
 4.01                                                                                                                        N
 4.02                                                                                                                        N
 4.03                                                                                                                        N
 4.04                                                                                                                        N
 4.05                                                                                                                        N
 4.06                                                                                                                        N
 4.07                                                                                                                        N
 4.08                                                                                                                        N
 4.09                                                                                                                        N
 4.1                                                                                                                         N
 4.11                                                                                                                        N
 4.12                                                                                                                        N
 4.13                                                                                                                        N
  5                                                                                                     Wachovia             N
  6                                                                                                     Wachovia             N
  7                                                                                                     Wachovia             N
  8                                                                                                     Wachovia             N
  9                                                                                                     Artesia              N
  10                                                                                                    Wachovia             N
  11                                                                                                    Wachovia             N
  12                                                                                                    Artesia              N
  13                                                                                                    Wachovia             N
  14                                                                                                    Wachovia             N
  15                                                                                                    Wachovia             N
  16                                                                                                    Wachovia             N
  17                                                                                                    Wachovia             N
17.01                                                                                                                        N
17.02                                                                                                                        N
17.03                                                                                                                        N
17.04                                                                                                                        N
17.05                                                                                                                        N
17.06                                                                                                                        N
  18                                                                                                    Wachovia             N
  19                                                                                                    Artesia              N
  20                      Greater of initial interest rate plus 3.0% or TCMYI plus 3.0%                 Wachovia             N
  21                                                                                                    Wachovia             N
  22                                                                                                    Wachovia             N
  23                      Greater of initial interest rate plus 2.0% or TCMYI plus 2.0%                 Wachovia             N
  24                                                                                                    Wachovia             N
  25                                                                                                    Wachovia             N
  26                                                                                                    Wachovia             N
  27                                                                                                    Wachovia             N
  28                                                                                                    Wachovia             N
  29                                                                                                    Wachovia             N
  30                                                                                                    Wachovia             N
  31                                                                                                    Wachovia             N
  32                                                                                                    Artesia              N
  33                                                                                                    Wachovia             N
  34                                                                                                    Wachovia             N
  35                                                                                                    Wachovia             N
  36                                                                                                    Wachovia             N
  37                                                                                                    Wachovia             N
  38                                                                                                    Wachovia             N
  39                                                                                                    Wachovia             N
  40                                                                                                    Wachovia             N
  41                                                                                                    Wachovia             N
  42                                                                                                    Wachovia             N
  43                                                                                                    Wachovia             N
  44                                                                                                    Wachovia             N
  45                                                                                                    Artesia              N
  46                                                                                                    Wachovia             N
  47                                                                                                    Wachovia             N
  48                                                                                                    Wachovia             N
  49                                                                                                    Wachovia             N
  50                                                                                                    Wachovia             N
  51                                                                                                    Artesia              N
  52                                                                                                    Wachovia             N
  53                                                                                                    Wachovia             N
  54                                                                                                    Wachovia             N
  55                                                                                                    Wachovia             N
  56                                                                                                    Wachovia             N
  57                                                                                                    Wachovia             N
  58                                                                                                    Wachovia             N
  59                                                                                                    Wachovia             N
  60                      Greater of initial interest rate plus 2.5% or TCMYI plus 2.5%                 Wachovia             N
  61                                                                                                    Wachovia             N
  62                                                                                                    Wachovia             N
  63                                                                                                    Wachovia             N
  64                                                                                                    Wachovia             N
  65                                                                                                    Wachovia             N
65.01                                                                                                                        N
65.02                                                                                                                        N
65.03                                                                                                                        N
65.04                                                                                                                        N
65.05                                                                                                                        N
65.06                                                                                                                        N
  66                                                                                                    Wachovia             N
  67                                                                                                    Wachovia             N
  68                                                                                                    Artesia              N
  69                                                                                                    Artesia              N
  70                                                                                                    Wachovia             N
70.01                                                                                                                        N
70.02                                                                                                                        N
70.03                                                                                                                        N
  71                                                                                                    Artesia              N
  72                      Greater of initial interest rate plus 2.5% or TCMYI plus 2.5%                 Wachovia             N
  73                                                                                                    Wachovia             N
  74                                                                                                    Wachovia             N
  75                                                                                                    Wachovia             N
  76                                                                                                    Wachovia             N
  77                                                                                                    Wachovia             N
  78                                                                                                    Wachovia             N
  79                                                                                                    Wachovia             N
  80                      Greater of initial interest rate plus 2.5% or TCMYI plus 2.5%                 Wachovia             N
  81                                                                                                    Wachovia             N
  82                                                                                                    Wachovia             N
  83                                                                                                    Artesia              N
  84                                                                                                    Artesia              N
  85                                                                                                    Wachovia             N
  86                      Greater of initial interest rate plus 3.0% or TCMYI plus 3.0%                 Wachovia             N
  87                                                                                                    Wachovia             N
  88                                                                                                    Wachovia             N
  89                                                                                                    Artesia              N
  90                                                                                                    Wachovia             N
  91                                                                                                    Wachovia             N
  92                                                                                                    Wachovia             N
  93                                                                                                    Wachovia             N
  94                                                                                                    Wachovia             N
  95                      Greater of initial interest rate plus 2.5% or TCMYI plus 2.5%                 Wachovia             N
  96                                                                                                    Wachovia             N
  97                                                                                                    Wachovia             N
  98                                                                                                    Wachovia             N
  99                                                                                                    Artesia              N
 100                                                                                                    Artesia              N
 101                                                                                                    Wachovia             N
 102                                                                                                    Wachovia             N
 103                                                                                                    Wachovia             N
 104                                                                                                    Wachovia             N
 105                                                                                                    Artesia              N
 106                                                                                                    Artesia              N
 107                      Greater of initial interest rate plus 2.5% or TCMYI plus 2.5%                 Wachovia             N
 108                                                                                                    Wachovia             N
 109                                                                                                    Wachovia             N
 110                                                                                                    Artesia              N
 111                                                                                                    Wachovia             N
 112                                                                                                    Wachovia             N
 113                                                                                                    Artesia              N
 114                                                                                                    Wachovia             N
 115                                                                                                    Wachovia             N
 116                                                                                                    Wachovia             N
 117                                                                                                    Wachovia             N
 118                                                                                                    Wachovia             N
 119                                                                                                    Wachovia             N
 120                                                                                                    Wachovia             N
 121                                                                                                    Artesia              N
 122       Greater of initial interest rate plus 2.5% or TCMYI plus 2.5%, increased annually by 0.25%   Wachovia             N
 123                                                                                                    Wachovia             N
 124                                                                                                    Wachovia             N
 125                                                                                                    Artesia              N
 126                                                                                                    Wachovia             N
 127                                                                                                    Wachovia             N
 128                                                                                                    Artesia              N
 129                                                                                                    Wachovia             N
 130                                                                                                    Artesia              N
130.01                                                                                                                       N
130.02                                                                                                                       N
 131                                                                                                    Wachovia             N
 132                      Greater of initial interest rate plus 2.0% or TCMYI plus 2.0%                 Wachovia             N
 133                                                                                                    Artesia              N
 134                                                                                                    Wachovia             N
 135                                                                                                    Artesia              N
 136                                                                                                    Wachovia             N
 137                                                                                                    Wachovia             N
 138                      Greater of initial interest rate plus 2.0% or TCMYI plus 2.0%                 Wachovia             N
 139                                                                                                    Artesia              N
 140                                                                                                    Artesia              N
 141                                                                                                    Artesia              N
141.01                                                                                                                       N
141.02                                                                                                                       N
 142                      Greater of initial interest rate plus 2.0% or TCMYI plus 2.0%                 Wachovia             N

<CAPTION>
                                                                                                         Interest
Mortgage Loan           Cross Collateralized and Cross           Prepayment     Early        Secured      Accrual
   Number                    Defaulted Loan Flag                 Provisions   Defeasance      by LC       Method         Lockbox
------------------------------------------------------------------------------------------------------------------------------------
<S>           <C>                                                   <C>           <C>          <C>        <C>            <C>
  1                                                                 N             N            N          30/360
 1.01
 1.02
 1.03
 1.04
 1.05
 1.06
 1.07
 1.08
 1.09
 1.10
 1.11
 1.12
 1.13
 1.14
 1.15
 1.16
 1.17
 1.18
 1.19
 1.20
 1.21
 1.22
 1.23
 1.24
 1.25
 1.26
 1.27
 2.00                                                               Y             N            N        Actual/360         Day 1
 2.01
 2.02
 2.03
 2.04
 2.05
 2.06
 2.07
 2.08
 2.09
 2.10
 2.11
 2.12
 2.13
 2.14
 2.15
 2.16
 3.00                                                               Y             N            N        Actual/360         Day 1
 4.00                                                               Y             N            N        Actual/360         Day 1
 4.01
 4.02
 4.03
 4.04
 4.05
 4.06
 4.07
 4.08
 4.09
 4.1
 4.11
 4.12
 4.13
  5                                                                 Y             N            N        Actual/360         Day 1
  6                                                                 Y             N            N          30/360
  7                                                                 N             N            N        Actual/360         Day 1
  8                                                                 Y             N            N        Actual/360         Day 1
  9                                                                 Y             N            N        Actual/360
  10                                                                Y             N            N          30/360
  11                                                                Y             N            N        Actual/360         Day 1
  12                                                                Y             N            N        Actual/360
  13                                                                Y             N            N        Actual/360
  14                                                                Y             N            N        Actual/360
  15                                                                Y             N            N        Actual/360       Springing
  16                                                                N             N            N        Actual/360
  17                                                                Y             N            N        Actual/360         Day 1
17.01
17.02
17.03
17.04
17.05
17.06
  18                                                                Y             N            Y        Actual/360
  19                                                                Y             N            N        Actual/360
  20                                                                N             N            N        Actual/360         Day 1
  21                                                                Y             N            N        Actual/360
  22                                                                N             N            N        Actual/360       Springing
  23                                                                Y             N            N        Actual/360       Springing
  24                                                                N             N            N        Actual/360
  25                                                                Y             N            N        Actual/360       Springing
  26                        Las Colinas Portfolio                   N             N            N        Actual/360
  27                                                                Y             N            N        Actual/360       Springing
  28                                                                Y             N            N        Actual/360
  29                                                                N             N            N        Actual/360
  30                                                                Y             N            N        Actual/360
  31                                                                N             N            N        Actual/360
  32                                                                Y             N            N        Actual/360
  33                                                                N             N            N        Actual/360
  34                                                                N             N            N        Actual/360
  35                                                                Y             N            N        Actual/360
  36                                                                Y             N            N        Actual/360         Day 1
  37                                                                Y             N            N        Actual/360
  38                                                                Y             N            N        Actual/360         Day 1
  39                                                                Y             N            N        Actual/360
  40                                                                Y             N            N        Actual/360
  41                                                                N             N            N        Actual/360
  42                                                                Y             N            N        Actual/360
  43                        Las Colinas Portfolio                   N             N            N        Actual/360
  44                                                                N             N            N        Actual/360
  45                                                                N             N            N        Actual/360       Springing
  46                                                                Y             N            N        Actual/360
  47                                                                Y             N            N        Actual/360
  48                                                                Y             N            N        Actual/360
  49                                                                Y             N            N        Actual/360
  50                                                                Y             N            Y        Actual/360         Day 1
  51                                                                Y             N            N        Actual/360
  52                                                                N             N            N        Actual/360
  53                                                                N             N            Y        Actual/360
  54                                                                N             N            N        Actual/360
  55                                                                Y             N            N        Actual/360
  56                                                                Y             N            N        Actual/360
  57                  Arcadia Gateway Center Portfolio              Y             N            N        Actual/360       Springing
  58                                                                Y             N            N        Actual/360
  59                                                                Y             N            N        Actual/360
  60                                                                N             N            N        Actual/360       Springing
  61                                                                N             N            N        Actual/360       Springing
  62                                                                Y             N            N        Actual/360
  63                                                                N             N            N        Actual/360
  64                                                                Y             N            N        Actual/360         Day 1
  65                                                                Y             N            N        Actual/360
65.01
65.02
65.03
65.04
65.05
65.06
  66                  Arcadia Gateway Center Portfolio              Y             N            N        Actual/360       Springing
  67                                                                Y             N            N        Actual/360
  68                                                                Y             N            N        Actual/360
  69                                                                Y             N            N        Actual/360       Springing
  70                                                                Y             N            N        Actual/360         Day 1
70.01
70.02
70.03
  71                                                                Y             N            N        Actual/360
  72                                                                Y             N            N        Actual/360         Day 1
  73                                                                Y             N            N        Actual/360
  74                                                                N             N            N        Actual/360       Springing
  75                                                                Y             N            N        Actual/360         Day 1
  76                                                                Y             N            N        Actual/360       Springing
  77                                                                Y             N            N        Actual/360
  78                  Arcadia Gateway Center Portfolio              Y             N            N        Actual/360       Springing
  79                                                                Y             N            N        Actual/360
  80                                                                Y             N            N        Actual/360       Springing
  81                                                                N             N            N        Actual/360
  82                                                                Y             N            N        Actual/360
  83                                                                Y             N            N        Actual/360         Day 1
  84                                                                Y             N            Y        Actual/360       Springing
  85                                                                Y             N            N        Actual/360
  86                                                                Y             N            N        Actual/360       Springing
  87                                                                Y             N            N        Actual/360       Springing
  88                                                                Y             N            N        Actual/360       Springing
  89                                                                N             N            N        Actual/360
  90                                                                Y             N            N        Actual/360       Springing
  91                                                                Y             N            N        Actual/360
  92                                                                N             N            N        Actual/360
  93                                                                Y             N            N        Actual/360
  94                                                                Y             N            N        Actual/360
  95                                                                Y             N            N        Actual/360       Springing
  96                                                                Y             N            N        Actual/360
  97                                                                Y             N            N        Actual/360
  98                                                                Y             N            N        Actual/360
  99                                                                Y             N            N        Actual/360
 100                                                                Y             N            N        Actual/360       Springing
 101                                                                Y             N            N        Actual/360
 102                                                                Y             N            N        Actual/360       Springing
 103                                                                Y             N            N        Actual/360
 104                                                                Y             N            N        Actual/360
 105                                                                Y             N            Y        Actual/360
 106                                                                Y             N            N        Actual/360
 107                                                                Y             N            N        Actual/360
 108                                                                Y             N            N        Actual/360
 109                                                                Y             N            N        Actual/360
 110                                                                Y             N            N        Actual/360
 111                                                                Y             N            N        Actual/360
 112                                                                Y             N            N        Actual/360
 113                                                                Y             N            N        Actual/360
 114                                                                N             N            N        Actual/360       Springing
 115          Autumnwood/Hinton Hollow/Southern Woods Portfolio     N             N            N        Actual/360
 116                                                                Y             N            N        Actual/360
 117                                                                Y             N            Y        Actual/360
 118                                                                N             N            N        Actual/360
 119                                                                Y             N            N        Actual/360
 120                                                                Y             N            N        Actual/360
 121                                                                Y             N            Y        Actual/360
 122                                                                Y             N            N        Actual/360       Springing
 123                                                                Y             N            N        Actual/360
 124                                                                Y             N            N        Actual/360
 125                                                                Y             N            N        Actual/360
 126          Autumnwood/Hinton Hollow/Southern Woods Portfolio     N             N            N        Actual/360
 127                                                                Y             N            N        Actual/360
 128                                                                Y             N            N        Actual/360         Day 1
 129                                                                Y             N            N        Actual/360
 130                                                                Y             N            N        Actual/360
130.01
130.02
 131                                                                Y             N            N        Actual/360
 132                                                                Y             N            N        Actual/360       Springing
 133                                                                Y             N            N        Actual/360
 134          Autumnwood/Hinton Hollow/Southern Woods Portfolio     N             N            N        Actual/360
 135                                                                Y             N            Y        Actual/360
 136                                                                Y             N            N        Actual/360
 137                                                                Y             N            N        Actual/360
 138                                                                Y             N            N        Actual/360       Springing
 139                                                                Y             N            N        Actual/360       Springing
 140                                                                N             N            N        Actual/360
 141                                                                Y             N            N        Actual/360       Springing
141.01
141.02
 142                                                                Y             N            N        Actual/360       Springing

<CAPTION>
                                             Initial Deposit
   Mortgage                                    to Capital       Initial     Ongoing
     Loan             Annual Deposit to       Improvements       TI/LC       TI/LC
    Number          Replacement Reserves         Reserve        Escrow      Footnote
------------------------------------------------------------------------------------
<S>            <C>                               <C>           <C>             <C>
   1
 1.01
 1.02
 1.03
 1.04
 1.05
 1.06
 1.07
 1.08
 1.09
 1.10
 1.11
 1.12
 1.13
 1.14
 1.15
 1.16
 1.17
 1.18
 1.19
 1.20
 1.21
 1.22
 1.23
 1.24
 1.25
 1.26
 1.27
 2.00
 2.01
 2.02
 2.03
 2.04
 2.05
 2.06
 2.07
 2.08
 2.09
 2.10
 2.11
 2.12
 2.13
 2.14
 2.15
 2.16
 3.00
 4.00
 4.01
 4.02
 4.03
 4.04
 4.05
 4.06
 4.07
 4.08
 4.09
  4.1
 4.11
 4.12
 4.13
   5
   6
   7                                                          10,000,000
   8
   9
  10
  11                    83,334                                                 (2)
  12
  13                    10,790
  14                                                            250,000        (2)
  15
  16                    623,049
  17                    131,299                                                (2)
 17.01
 17.02
 17.03
 17.04
 17.05
 17.06
  18                    12,893                                  350,000        (2)
  19                                                                           (2)
  20                    83,480                   79,000
  21
  22                    82,016
  23                    24,558                                  900,000        (2)
  24
  25                    21,175                                  250,000        (2)
  26
  27
  28                    45,684                  240,000
  29                    37,968                   67,875
  30
  31                    67,680
  32                    10,284                                                 (2)
  33
  34
  35                    27,833                   11,000
  36                    10,405                                  300,000        (2)
  37                    13,777                                                 (2)
  38                     2,117                                 1,000,000
  39                     9,000
  40
  41                    55,500
  42
  43
  44
  45                    27,497                                                 (2)
  46                    12,753                                                 (2)
  47                    13,359                                                 (2)
  48                    151,007
  49                                             4,375
  50                    12,261                                  600,000
  51                    26,282                                                 (2)
  52                    46,140
  53
  54                    56,500
  55                    10,508                  345,730
  56                    11,102                                  150,000        (2)
  57                     9,724                                  400,000
  58                    30,000                  690,000
  59
  60
  61                    46,128
  62                    25,595                                  100,000        (2)
  63                    28,272
  64                                                                           (2)
  65                    53,363
 65.01
 65.02
 65.03
 65.04
 65.05
 65.06
  66                     5,215                                  200,000
  67                    104,500                 213,781
  68
  69                    46,800
  70                    76,270                   21,063        1,300,000       (2)
 70.01
 70.02
 70.03
  71
  72                    18,322                   20,625                        (2)
  73                    13,922                                                 (2)
  74                                             18,094
  75                    10,393                                                 (2)
  76                    23,352
  77           4.0% Yearly Gross Revenue
  78                     8,237                                  400,000
  79
  80                     9,550
  81                    35,000
  82                    17,541                                  250,000
  83                    19,547
  84                    12,972                                  150,000        (2)
  85                    22,152
  86
  87                    51,376
  88                     6,996                                                 (2)
  89                    95,796
  90                    16,167                                  300,000
  91                    15,948                                                 (2)
  92                     5,842                   21,000
  93                     6,162                                                 (2)
  94                     3,087                                                 (2)
  95
  96                    56,000                   6,563
  97                    46,000                   30,500
  98                    11,100                                                 (2)
  99                    10,817                   28,125         100,000        (2)
  100                   26,800                   31,250
  101                   222,000
  102
  103                    7,849                                                 (2)
  104                   28,500                   64,000
  105                   12,254                                                 (2)
  106                   37,250
  107
  108                   34,466                   23,038         200,000        (2)
  109                    9,936                                                 (2)
  110
  111                    6,188                                                 (2)
  112                   32,426                   26,000         225,000        (2)
  113                                                                          (2)
  114
  115                   19,000
  116                    1,621                                                 (2)
  117                    1,827                                                 (2)
  118                    6,972
  119                    5,089
  120
  121                   70,768
  122
  123                    3,816                                                 (2)
  124                   10,180                                                 (2)
  125                    8,200
  126                   15,000
  127
  128                    3,600                                                 (2)
  129                    3,800
  130                    9,160
130.01
130.02
  131                    1,499                                                 (2)
  132
  133                    8,617                                                 (2)
  134                   10,250
  135                    8,700
  136                     720                                                  (2)
  137                    2,064                                                 (2)
  138
  139                    2,600                                                 (2)
  140
  141                    3,712                                                 (2)
141.01
141.02
  142
</TABLE>

(1) One Mortgage Loan (loan number 6), representing 3.9% of the Cut-Off Date
Pool Balance or 4.9% of the Cut-Off Date Group 1 Balance, is part of a split
loan structure and the related pari passu companion loan is not included in the
Trust Fund with respect to the Mortgage Loan, unless otherwise specified.

(2) In addition to any escrows funded at loan closing for potential TI/LC
expenses, the related Mortgage Loan requires funds to be escrowed during some or
all of the loan terms for TI/LC expenses, which may be incurred during the term
of the related Mortgage Loans. In certain instances, escrowed funds may be
released to the borrower upon satisfaction of certain leasing conditions.

(3) Annual Deposit to Replacement Reserves is $623,049 through December 11, 2007
and 4.0% of yearly gross revenues thereafter.

(4) With respect to the Raveneaux Apartments loan (loan number 27), representing
0.7% of the Cut-Off Date Pool Balance or 3.5% of the Cut-Off Date Group 2
Balance, the rate varies throughout the IO term of the loan.

(5) Commencing November 11, 2011, Annual Deposit to Replacement Reserves is
$55,500.

(6) Annual Deposit to Replacement Reserves is $151,007 through December 11, 2007
and 3.0% of yearly gross revenues thereafter.

(7) Commencing November 11, 2011, Annual Deposit to Replacement Reserves is
$56,500.

(8) Commencing December 11, 2009, Annual Deposit to Replacement Reserves is
$30,000.

(9) Commencing November 11, 2011, Annual Deposit to Replacement Reserves is
$35,000.

(10) Commencing December 11, 2009, Annual Deposit to Replacement Reserves is
$12,972.

(11) Commencing November 11, 2008, Annual Deposit to Replacement Reserves is
$22,152.

(12) Annual Deposit to Replacement Reserves is the greater of $222,000 or 4.0%
of yearly gross revenue.

(13) Annual Deposit to Replacement Reserves is $9,936 through November 11, 2009.

(14) Commencing November 11, 2011, Annual Deposit to Replacement Reserves is
$19,000.

(15) Commencing November 11, 2011, Annual Deposit to Replacement Reserves is
$15,000.

(16) Commencing November 11, 2011, Annual Deposit to Replacement Reserves is
$10,250.

See "DESCRIPTION OF THE MORTGAGED POOL - Additional Mortgage Loan Information"
in the prospectus supplement.

<PAGE>

                                   EXHIBIT C-1

                SCHEDULE OF EXCEPTIONS TO MORTGAGE FILE DELIVERY
                ------------------------------------------------

                  Wachovia Commercial Mortgage Securities Inc.
          Commercial Mortgage Pass-Through Certificates Series 2006-C29
          -------------------------------------------------------------

<TABLE>
<CAPTION>
Collateral ID           Property Name                                     Investor ID       AlternateLoanID        Loan Amount
-------------           -------------                                     -----------       ---------------        -----------
<S>                     <C>                                               <C>                  <C>                 <C>
  12006C29              Duke Realty Industrial Pool                       WACH                 2857078             318,976,000.00
  12006C29              Duke Realty Industrial Pool                       WACH                 2857078             318,976,000.00
  32006C29              Galleria at Tyler                                 WACH                 2857710             250,000,000.00
  42006C29              Centro International Wholesale Pool               WACH                 2858230             233,977,430.00
  52006C29              Fox Valley                                        WACH                 2857621             150,000,000.00
  82006C29              21 & 25 West 34th Street                          WACH                 2858205             100,000,000.00
 102006C29              Deer Park Town Center                             WACH                 9850349              60,000,000.00
 112006C29              Dakota Square Mall                                WACH                 2855552              58,000,000.00
 112006C29              Dakota Square Mall                                WACH                 2855552              58,000,000.00
 132006C29              Pennwood Crossing MHP                             WACH                 2858018              56,800,000.00
 142006C29              Alhambra Towers                                   WACH                 3850210              52,000,000.00
 152006C29              AMLI at Riverbend                                 WACH                 2857427              50,000,000.00
 162006C29              Hilton - Providence, RI                           WACH                 2857298              49,000,000.00
 172006C29              New Market 2161                                   WACH                 2856353              37,000,000.00
 182006C29              Crossroads Technology Park                        WACH                 2857262              35,000,000.00
 202006C25              Gateway at Tempe                                  WACH                 2857425              33,150,000.00
 212006C29              Wellington Green                                  WACH                 2857505              30,750,000.00
 222006C29              The Fairways Apartments                           WACH                 2857278              30,315,000.00
 232006C29              Barrywoods Crossing Shopping Center               WACH                 2855564              28,275,000.00
 242006C29              Weston One                                        WACH                 2857541              28,200,000.00
 252006C29              Lakeland Commons                                  WACH                 2857841              25,600,000.00
 262006C29              Las Colinas Corporate Center II                   WACH                 2857879              25,025,000.00
 272006C29              Raveneaux Apartments                              WACH                 2856005              22,434,040.00
 282006C29              Gramercy Apartments                               WACH                 2857965              23,000,000.00
 292006C29              Rancho Solana Apartments                          WACH                 2857942              23,000,000.00
 302006C29              Concourse Office Plaza                            WACH                 2857998              22,600,000.00
 312006C29              Napa Valley Apartments                            WACH                 2857830              22,400,000.00
 332006C29              Pinnacle Grove                                    WACH                 2857796              22,100,000.00
 342006C29              Boulder Crossing Shopping Center                  WACH                 2857424              21,000,000.00
 352006C29              Sono Corporate Center                             WACH                 2855032              20,000,000.00
 362006C29              Reads Way Office Building                         WACH                 2857594              18,800,000.00
 372006C29              Professional Center at Pembroke Lakes Mall        WACH                 2857704              18,750,000.00
 382006C29              Chestnut Run Office Building                      WACH                 2857592              18,400,000.00
 392006C29              Melody Lakes MHP                                  WACH                 2857266              18,080,000.00
 402006C29              Treybrooke I & II                                 WACH                 2850896              18,000,000.00
 412006C29              Smoky 1                                           WACH                 5850054              17,600,000.00
 422006C29              Cost Plus Plaza                                   WACH                 2857691              17,500,000.00
 432006C29              Las Colinas Corporate Center I                    WACH                 2857590              17,500,000.00
 442006C29              The Forum at Ashley Park Phase I                  WACH                 2857733              17,500,000.00
 462006C29              Professional Center at Gardens Mall               WACH                 2857702              17,250,000.00
 472006C29              Driftwood Village Shopping Center                 WACH                 2857971              17,000,000.00
 482006C29              Embassy Suites Tucson-Broadway                    WACH                 2856542              17,000,000.00
 492006C29              Heritage Lake at Westland                         WACH                 2857834              16,185,000.00
 502006C29              Aetna Building - Fresno, CA                       WACH                 2858316              16,043,000.00
 522006C29              Andorra Apartments                                WACH                 2857168              15,500,000.00
 532006C29              West Sahara Promenade                             WACH                 2857317              15,500,000.00
 542006C29              Eagle Point                                       WACH                 5850056              15,200,000.00
 552006C29              Twelve Oaks Shopping Center                       WACH                 2857034              15,120,000.00
 562006C29              North Dale Executive Center                       WACH                 2857628              14,950,000.00
 572006C29              Arcadia Gateway Center - Office                   WACH                 2854747              14,880,000.00
 582006C29              Silver Lakes Heights                              WACH                 2857532              14,700,000.00
 592006C29              The Place at Greenway                             WACH                 2857896              14,700,000.00
 602006C29              Charlotte Mecklenburg Hospital Authority          WACH                 2857042              14,450,000.00
 612006C29              River Ranch Apartments                            WACH                 2857254              14,050,000.00
 622006C29              Cambridge Center                                  WACH                 2857359              13,375,000.00
 632006C29              M Street Towers                                   WACH                 2857738              13,300,000.00
 642006C29              Time Warner Building- Charlotte                   WACH                 2857717              13,025,000.00
 652006C29              Attic Storage of Olathe                           WACH                 2858238              13,000,000.00
 662006C29              Arcadia Gateway Center - Retail                   WACH                 2858370              12,820,000.00
 672006C29              Tudor Heights Apartments                          WACH                 2858048              12,500,000.00
 702006C29              Riveredge IV                                      WACH                 2857596              12,160,000.00
 722006C29              100 Carillon Parkway                              WACH                 2857394              11,500,000.00
 732006C29              PNC Bank Plaza                                    WACH                 2856990              11,350,000.00
 742006C29              Avalon Park Apartments                            WACH                 2858140              11,000,000.00
 752006C29              T-Mobile - Nashville, TN                          WACH                 2858317              10,885,000.00
 762006C29              Arbors at Fairview                                WACH                 2857292              10,500,000.00
 772006C29              Residence Inn- Virginia Beach                     WACH                 2857154              10,500,000.00
 782006C29              Arcadia Gateway Center-Medical Office             WACH                 2858369              10,300,000.00
 792006C29              THF Southtowne Plaza                              WACH                 2856697              10,200,000.00
 802006C29              FBI- Albany                                       WACH                 2857631              10,137,000.00
 812006C29              Forest Ridge                                      WACH                 5850055               9,800,000.00
 822006C29              MAC I and II                                      WACH                 2858097               9,800,000.00
 852006C29              The Grove at White Oak                            WACH                 2857831               9,000,000.00
 862006C29              Dick's Sporting Goods - Dulles Town Center        WACH                 2857666               9,000,000.00
 872006C29              Beechwood Apartments                              WACH                 2858091               8,625,000.00
 882006C29              Llanerch Shopping Center                          WACH                 2855240               8,450,000.00
 902006C29              Heritage Place                                    WACH                 2858058               8,240,000.00
 912006C29              Atrium Crest                                      WACH                 2857692               8,150,000.00
 922006C29              Woodberry Square                                  WACH                 2856935               8,000,000.00
 932006C29              Camp Creek Center                                 WACH                 2857835               7,800,000.00
 942006C29              Shops at Volente                                  WACH                 2856149               7,680,600.00
 952006C29              Big Dog Distribution Facility                     WACH                 2856012               7,630,000.00
 962006C29              Jefferson Trace Apartments                        WACH                 2854335               7,250,000.00
 972006C29              Venterra at Waters Edge                           WACH                 2857687               7,100,000.00
 982006C29              BJB - Davis and Oak                               WACH                 2857644               7,030,000.00
1012006C29              Holiday Inn - Bangor, ME                          WACH                 2856624               6,700,000.00
1022006C29              Summit Square                                     WACH                 2857848               6,700,000.00
1032006C29              Parker Crossroads                                 WACH                 2858092               6,650,000.00
1042006C29              Park Manor                                        WACH                 2857787               6,500,000.00
1072006C29              St. Pete Post Office                              WACH                 2856470               6,250,000.00
1082006C29              Center Building                                   WACH                 3850245               6,200,000.00
1092006C29              First Commons Industrial                          WACH                 2857794               6,200,000.00
1112006C29              BJB - 543 - 561 Lincoln                           WACH                 2856368               5,640,000.00
1122006C29              P & D Properties Orlando                          WACH                 2856241               5,400,000.00
1142006C29              1025 Hancock Street                               WACH                 2857872               5,000,000.00
1152006C29              Hinton Hollow                                     WACH                 2857962               4,653,846.00
1162006C29              1 Derby Street                                    WACH                 2857478               4,750,000.00
1172006C29              Armitage and California                           WACH                 2857685               4,750,000.00
1182006C29              Taylor House Apartments                           WACH                 2857944               4,600,000.00
1192006C29              Courthouse Square                                 WACH                 2857405               4,400,000.00
1202006C29              4349 Duke Street                                  WACH                 2857654               4,150,000.00
1222006C29              Walgreens - Edgewater, MD                         WACH                 2858093               3,800,000.00
1232006C29              BJB - 501 - 507 Chestnut                          WACH                 2857640               3,620,000.00
1242006C29              BJB - 715 Elm                                     WACH                 2857641               3,590,000.00
1262006C29              Autumn Woods                                      WACH                 5850053               3,220,000.00
1272006C29              Pinecrest Staples                                 WACH                 2855018               3,200,000.00
1292006C29              BJB - Dempster and Judson                         WACH                 2857649               2,915,000.00
1312006C29              Fox Mill Centre Outparcels 2B and 5               WACH                 2857249               2,800,000.00
1322006C29              Cole CVS San Antonio, TX                          WACH                 2856858               2,690,000.00
1342006C29              Southern Woods                                    WACH                 2857963               2,460,000.00
1362006C29              Grand Oaks Plaza                                  WACH                 2857470               2,142,000.00
1372006C29              BJB - 874-878 Green Bay                           WACH                 2857642               2,100,000.00
1382006C29              Cole Dollar General - Livingston, TN              WACH                 2856195               1,856,000.00
1422006C29              Cole Advance Auto Grand Forks, ND                 WACH                 2856721                 840,000.00

<CAPTION>
Collateral ID           DocType    Exception    Exception Description                                Notation
-------------           -------    ---------    ---------------------                                --------
<S>                     <C>        <C>          <C>                                                  <C>
  12006C29              ALNV       94           OUT FOR EXECUTION-EXPECT IN THIS MORNING'S MAIL      NOTE A-1; WACH TO BLANK
  12006C29              ALNV       94           OUT FOR EXECUTION-EXPECT IN THIS MORNING'S MAIL      NOTE A-2; WACH TO BLANK
  32006C29              ALNV       94           OUT FOR EXECUTION-EXPECT IN THIS MORNING'S MAIL      WACH TO BLANK
  42006C29              ALNV       01           MISSING                                              WACH TO BLANK
  52006C29              ALNV       94           OUT FOR EXECUTION-EXPECT IN THIS MORNING'S MAIL      WACH TO BLANK
  82006C29              ALNV       94           OUT FOR EXECUTION-EXPECT IN THIS MORNING'S MAIL      WACH TO BLANK
 102006C29              ALNV       94           OUT FOR EXECUTION-EXPECT IN THIS MORNING'S MAIL      WACH TO BLANK
 112006C29              ALN1       94           OUT FOR EXECUTION-EXPECT IN THIS MORNING'S MAIL      WACH TO BLANK
 112006C29              ALNV       94           OUT FOR EXECUTION-EXPECT IN THIS MORNING'S MAIL      WACH TO BLANK
 132006C29              ALNV       94           OUT FOR EXECUTION-EXPECT IN THIS MORNING'S MAIL      WACH TO BLANK
 142006C29              ALNV       94           OUT FOR EXECUTION-EXPECT IN THIS MORNING'S MAIL      WACH TO BLANK
 152006C29              ALNV       94           OUT FOR EXECUTION-EXPECT IN THIS MORNING'S MAIL      WACH TO BLANK
 162006C29              ALNV       94           OUT FOR EXECUTION-EXPECT IN THIS MORNING'S MAIL      WACH TO BLANK
 172006C29              ALNV       01           MISSING                                              WACH TO BLANK
 182006C29              ALNV       94           OUT FOR EXECUTION-EXPECT IN THIS MORNING'S MAIL      WACH TO BLANK
 202006C25              ALNV       94           OUT FOR EXECUTION-EXPECT IN THIS MORNING'S MAIL      WACH TO BLANK
 212006C29              ALNV       94           OUT FOR EXECUTION-EXPECT IN THIS MORNING'S MAIL      WACH TO BLANK
 222006C29              ALNV       94           OUT FOR EXECUTION-EXPECT IN THIS MORNING'S MAIL      WACH TO BLANK
 232006C29              ALNV       94           OUT FOR EXECUTION-EXPECT IN THIS MORNING'S MAIL      WACH TO BLANK
 242006C29              ALNV       94           OUT FOR EXECUTION-EXPECT IN THIS MORNING'S MAIL      WACH TO BLANK
 252006C29              ALNV       94           OUT FOR EXECUTION-EXPECT IN THIS MORNING'S MAIL      WACH TO BLANK
 262006C29              ALNV       94           OUT FOR EXECUTION-EXPECT IN THIS MORNING'S MAIL      WACH TO BLANK
 272006C29              ALNV       94           OUT FOR EXECUTION-EXPECT IN THIS MORNING'S MAIL      WACH TO BLANK
 282006C29              ALNV       94           OUT FOR EXECUTION-EXPECT IN THIS MORNING'S MAIL      WACH TO BLANK
 292006C29              ALNV       94           OUT FOR EXECUTION-EXPECT IN THIS MORNING'S MAIL      WACH TO BLANK
 302006C29              ALNV       94           OUT FOR EXECUTION-EXPECT IN THIS MORNING'S MAIL      WACH TO BLANK
 312006C29              ALNV       94           OUT FOR EXECUTION-EXPECT IN THIS MORNING'S MAIL      WACH TO BLANK
 332006C29              ALNV       94           OUT FOR EXECUTION-EXPECT IN THIS MORNING'S MAIL      WACH TO BLANK
 342006C29              ALNV       94           OUT FOR EXECUTION-EXPECT IN THIS MORNING'S MAIL      WACH TO BLANK
 352006C29              ALNV       94           OUT FOR EXECUTION-EXPECT IN THIS MORNING'S MAIL      WACH TO BLANK
 362006C29              ALNV       94           OUT FOR EXECUTION-EXPECT IN THIS MORNING'S MAIL      WACH TO BLANK
 372006C29              ALNV       94           OUT FOR EXECUTION-EXPECT IN THIS MORNING'S MAIL      WACH TO BLANK
 382006C29              ALNV       94           OUT FOR EXECUTION-EXPECT IN THIS MORNING'S MAIL      WACH TO BLANK
 392006C29              ALNV       94           OUT FOR EXECUTION-EXPECT IN THIS MORNING'S MAIL      WACH TO BLANK
 402006C29              ALNV       94           OUT FOR EXECUTION-EXPECT IN THIS MORNING'S MAIL      WACH TO BLANK
 412006C29              ALNV       94           OUT FOR EXECUTION-EXPECT IN THIS MORNING'S MAIL      WACH TO BLANK
 422006C29              ALNV       94           OUT FOR EXECUTION-EXPECT IN THIS MORNING'S MAIL      WACH TO BLANK
 432006C29              ALNV       94           OUT FOR EXECUTION-EXPECT IN THIS MORNING'S MAIL      WACH TO BLANK
 442006C29              ALNV       94           OUT FOR EXECUTION-EXPECT IN THIS MORNING'S MAIL      WACH TO BLANK
 462006C29              ALNV       94           OUT FOR EXECUTION-EXPECT IN THIS MORNING'S MAIL      WACH TO BLANK
 472006C29              ALNV       94           OUT FOR EXECUTION-EXPECT IN THIS MORNING'S MAIL      WACH TO BLANK
 482006C29              ALNV       94           OUT FOR EXECUTION-EXPECT IN THIS MORNING'S MAIL      WACH TO BLANK
 492006C29              ALNV       94           OUT FOR EXECUTION-EXPECT IN THIS MORNING'S MAIL      WACH TO BLANK
 502006C29              ALNV       94           OUT FOR EXECUTION-EXPECT IN THIS MORNING'S MAIL      WACH TO BLANK
 522006C29              ALNV       94           OUT FOR EXECUTION-EXPECT IN THIS MORNING'S MAIL      WACH TO BLANK
 532006C29              ALNV       94           OUT FOR EXECUTION-EXPECT IN THIS MORNING'S MAIL      WACH TO BLANK
 542006C29              ALNV       94           OUT FOR EXECUTION-EXPECT IN THIS MORNING'S MAIL      WACH TO BLANK
 552006C29              ALNV       94           OUT FOR EXECUTION-EXPECT IN THIS MORNING'S MAIL      WACH TO BLANK
 562006C29              ALNV       94           OUT FOR EXECUTION-EXPECT IN THIS MORNING'S MAIL      WACH TO BLANK
 572006C29              ALNV       94           OUT FOR EXECUTION-EXPECT IN THIS MORNING'S MAIL      WACH TO BLANK
 582006C29              ALNV       94           OUT FOR EXECUTION-EXPECT IN THIS MORNING'S MAIL      WACH TO BLANK
 592006C29              ALNV       94           OUT FOR EXECUTION-EXPECT IN THIS MORNING'S MAIL      WACH TO BLANK
 602006C29              ALNV       94           OUT FOR EXECUTION-EXPECT IN THIS MORNING'S MAIL      WACH TO BLANK
 612006C29              ALNV       94           OUT FOR EXECUTION-EXPECT IN THIS MORNING'S MAIL      WACH TO BLANK
 622006C29              ALNV       94           OUT FOR EXECUTION-EXPECT IN THIS MORNING'S MAIL      WACH TO BLANK
 632006C29              ALNV       94           OUT FOR EXECUTION-EXPECT IN THIS MORNING'S MAIL      WACH TO BLANK
 642006C29              ALNV       94           OUT FOR EXECUTION-EXPECT IN THIS MORNING'S MAIL      WACH TO BLANK
 652006C29              ALNV       94           OUT FOR EXECUTION-EXPECT IN THIS MORNING'S MAIL      WACH TO BLANK
 662006C29              ALNV       94           OUT FOR EXECUTION-EXPECT IN THIS MORNING'S MAIL      WACH TO BLANK
 672006C29              ALNV       94           OUT FOR EXECUTION-EXPECT IN THIS MORNING'S MAIL      WACH TO BLANK
 702006C29              ALNV       94           OUT FOR EXECUTION-EXPECT IN THIS MORNING'S MAIL      WACH TO BLANK
 722006C29              ALNV       94           OUT FOR EXECUTION-EXPECT IN THIS MORNING'S MAIL      WACH TO BLANK
 732006C29              ALNV       94           OUT FOR EXECUTION-EXPECT IN THIS MORNING'S MAIL      WACH TO BLANK
 742006C29              ALNV       94           OUT FOR EXECUTION-EXPECT IN THIS MORNING'S MAIL      WACH TO BLANK
 752006C29              ALNV       94           OUT FOR EXECUTION-EXPECT IN THIS MORNING'S MAIL      WACH TO BLANK
 762006C29              ALNV       94           OUT FOR EXECUTION-EXPECT IN THIS MORNING'S MAIL      WACH TO BLANK
 772006C29              ALNV       94           OUT FOR EXECUTION-EXPECT IN THIS MORNING'S MAIL      WACH TO BLANK
 782006C29              ALNV       94           OUT FOR EXECUTION-EXPECT IN THIS MORNING'S MAIL      WACH TO BLANK
 792006C29              ALNV       94           OUT FOR EXECUTION-EXPECT IN THIS MORNING'S MAIL      WACH TO BLANK
 802006C29              ALNV       94           OUT FOR EXECUTION-EXPECT IN THIS MORNING'S MAIL      WACH TO BLANK
 812006C29              ALNV       94           OUT FOR EXECUTION-EXPECT IN THIS MORNING'S MAIL      WACH TO BLANK
 822006C29              ALNV       94           OUT FOR EXECUTION-EXPECT IN THIS MORNING'S MAIL      WACH TO BLANK
 852006C29              ALNV       94           OUT FOR EXECUTION-EXPECT IN THIS MORNING'S MAIL      WACH TO BLANK
 862006C29              ALNV       94           OUT FOR EXECUTION-EXPECT IN THIS MORNING'S MAIL      WACH TO BLANK
 872006C29              ALNV       94           OUT FOR EXECUTION-EXPECT IN THIS MORNING'S MAIL      WACH TO BLANK
 882006C29              ALNV       94           OUT FOR EXECUTION-EXPECT IN THIS MORNING'S MAIL      WACH TO BLANK
 902006C29              ALNV       94           OUT FOR EXECUTION-EXPECT IN THIS MORNING'S MAIL      WACH TO BLANK
 912006C29              ALNV       94           OUT FOR EXECUTION-EXPECT IN THIS MORNING'S MAIL      WACH TO BLANK
 922006C29              ALNV       94           OUT FOR EXECUTION-EXPECT IN THIS MORNING'S MAIL      WACH TO BLANK
 932006C29              ALNV       94           OUT FOR EXECUTION-EXPECT IN THIS MORNING'S MAIL      WACH TO BLANK
 942006C29              ALNV       94           OUT FOR EXECUTION-EXPECT IN THIS MORNING'S MAIL      WACH TO BLANK
 952006C29              ALNV       94           OUT FOR EXECUTION-EXPECT IN THIS MORNING'S MAIL      WACH TO BLANK
 962006C29              ALNV       94           OUT FOR EXECUTION-EXPECT IN THIS MORNING'S MAIL      WACH TO BLANK
 972006C29              ALNV       94           OUT FOR EXECUTION-EXPECT IN THIS MORNING'S MAIL      WACH TO BLANK
 982006C29              ALNV       94           OUT FOR EXECUTION-EXPECT IN THIS MORNING'S MAIL      WACH TO BLANK
1012006C29              ALNV       94           OUT FOR EXECUTION-EXPECT IN THIS MORNING'S MAIL      WACH TO BLANK
1022006C29              ALNV       94           OUT FOR EXECUTION-EXPECT IN THIS MORNING'S MAIL      WACH TO BLANK
1032006C29              ALNV       94           OUT FOR EXECUTION-EXPECT IN THIS MORNING'S MAIL      WACH TO BLANK
1042006C29              ALNV       94           OUT FOR EXECUTION-EXPECT IN THIS MORNING'S MAIL      WACH TO BLANK
1072006C29              ALNV       94           OUT FOR EXECUTION-EXPECT IN THIS MORNING'S MAIL      WACH TO BLANK
1082006C29              ALNV       94           OUT FOR EXECUTION-EXPECT IN THIS MORNING'S MAIL      WACH TO BLANK
1092006C29              ALNV       94           OUT FOR EXECUTION-EXPECT IN THIS MORNING'S MAIL      WACH TO BLANK
1112006C29              ALNV       94           OUT FOR EXECUTION-EXPECT IN THIS MORNING'S MAIL      WACH TO BLANK
1122006C29              ALNV       94           OUT FOR EXECUTION-EXPECT IN THIS MORNING'S MAIL      WACH TO BLANK
1142006C29              ALNV       94           OUT FOR EXECUTION-EXPECT IN THIS MORNING'S MAIL      WACH TO BLANK
1152006C29              ALNV       94           OUT FOR EXECUTION-EXPECT IN THIS MORNING'S MAIL      WACH TO BLANK
1162006C29              ALNV       94           OUT FOR EXECUTION-EXPECT IN THIS MORNING'S MAIL      WACH TO BLANK
1172006C29              ALNV       94           OUT FOR EXECUTION-EXPECT IN THIS MORNING'S MAIL      WACH TO BLANK
1182006C29              ALNV       94           OUT FOR EXECUTION-EXPECT IN THIS MORNING'S MAIL      WACH TO BLANK
1192006C29              ALNV       94           OUT FOR EXECUTION-EXPECT IN THIS MORNING'S MAIL      WACH TO BLANK
1202006C29              ALNV       94           OUT FOR EXECUTION-EXPECT IN THIS MORNING'S MAIL      WACH TO BLANK
1222006C29              ALNV       94           OUT FOR EXECUTION-EXPECT IN THIS MORNING'S MAIL      WACH TO BLANK
1232006C29              ALNV       94           OUT FOR EXECUTION-EXPECT IN THIS MORNING'S MAIL      WACH TO BLANK
1242006C29              ALNV       94           OUT FOR EXECUTION-EXPECT IN THIS MORNING'S MAIL      WACH TO BLANK
1262006C29              ALNV       94           OUT FOR EXECUTION-EXPECT IN THIS MORNING'S MAIL      WACH TO BLANK
1272006C29              ALNV       94           OUT FOR EXECUTION-EXPECT IN THIS MORNING'S MAIL      WACH TO BLANK
1292006C29              ALNV       94           OUT FOR EXECUTION-EXPECT IN THIS MORNING'S MAIL      WACH TO BLANK
1312006C29              ALNV       94           OUT FOR EXECUTION-EXPECT IN THIS MORNING'S MAIL      WACH TO BLANK
1322006C29              ALNV       94           OUT FOR EXECUTION-EXPECT IN THIS MORNING'S MAIL      WACH TO BLANK
1342006C29              ALNV       94           OUT FOR EXECUTION-EXPECT IN THIS MORNING'S MAIL      WACH TO BLANK
1362006C29              ALNV       94           OUT FOR EXECUTION-EXPECT IN THIS MORNING'S MAIL      WACH TO BLANK
1372006C29              ALNV       94           OUT FOR EXECUTION-EXPECT IN THIS MORNING'S MAIL      WACH TO BLANK
1382006C29              ALNV       94           OUT FOR EXECUTION-EXPECT IN THIS MORNING'S MAIL      WACH TO BLANK
1422006C29              ALNV       94           OUT FOR EXECUTION-EXPECT IN THIS MORNING'S MAIL      WACH TO BLANK
</TABLE>

<PAGE>

                                   EXHIBIT C-2

                         FORM OF CUSTODIAL CERTIFICATION
                         -------------------------------

                                                                          [Date]

Wachovia Bank, National Association
301 South College Street
One Wachovia Center
Charlotte, North Carolina  28288

Artesia Mortgage Capital Corporation
1180 NW Maple Street, Suite 202
Issaquah, Washington  98027

Wachovia Commercial Mortgage Securities, Inc.
301 South College Street
One Wachovia Center
Charlotte, North Carolina  28288
Attention:  Barry Reiner

Wachovia Bank, National Association
NC 1075
8739 Research Drive - URP4
Charlotte, North Carolina  28262-1075
Attention:     Wachovia Bank Commercial Mortgage Trust,
               Commercial Mortgage Pass-Through Certificates, Series 2006-C29

LNR Partners, Inc.
1601 Washington Avenue, Suite 800
Miami Beach, Florida 33139
Attention:  Randy Wolpert

            Re:   Wachovia Bank Commercial Mortgage Trust, Commercial Mortgage
                  Pass-Through Certificates, Series 2006-C29

Ladies and Gentlemen:

            (a) Wells Fargo Bank, N.A., as Trustee, hereby certifies to the
above referenced parties that, with respect to each Mortgage Loan (and with
respect to a Companion Loan, only those items required pursuant to the
definition of "Mortgage File") listed in the Mortgage Loan Schedule, except as
specifically identified in the schedule of exceptions annexed thereto, (i)
without regard to the proviso in the definition of "Mortgage File," all
documents specified in clauses (i), (ii), (iv)(a), (v) and (vii), and to the
extent provided in the related Mortgage File and actually known by a Responsible
Officer of the Trustee to be required, clauses (iii), (iv)(b), (iv)(c), (vi),
(viii) and (ix) through (xv) of the definition of "Mortgage File" are in its
possession, (ii) all documents delivered or caused to be delivered by the
applicable Mortgage Loan Seller constituting the related Mortgage File have been
reviewed by it and appear regular on their face and appear to relate to such
Mortgage Loan, (iii) based on such examination and only as to the foregoing
documents, the information set forth in the Mortgage Loan Schedule for such
Mortgage Loan with respect to the items specified in clauses (v) and (vi) (c) of
the definition of "Mortgage Loan Schedule" is correct and (iv) solely with
respect to the Companion Loans, all documents specified in clause (xiii) of the
definition of Mortgage File are in its possession. Further, with respect to the
documents described in clause (viii) of the definition of Mortgage File, the
Trustee may assume, for purposes of the certification delivered in Section
2.02(b) of the Pooling and Servicing Agreement and for purposes of determining
(subject to the proviso at the end of this sentence) where to file UCC Financing
Statements, that the related Mortgage File should include one state level UCC
Financing Statement filing in the state of incorporation of the Mortgagor for
each Mortgaged Property (or with respect to any Mortgage Loan that has two or
more Mortgagors, for each Mortgagor); provided, however, that to the extent the
Trustee has actual knowledge or is notified of any fixture or real property UCC
Financing Statements filed in the county of the state where the related
Mortgaged Property is located, the Trustee shall file an assignment to the Trust
Fund with respect to such UCC Financing Statements in the appropriate
jurisdiction under the UCC at the expense of the related Mortgage Loan Seller.
The UCC Financing Statements to be assigned to the Trust Fund pursuant to
Section 2.01(d) of the Pooling and Servicing Agreement will be delivered by the
related Mortgage Loan Seller to the Trustee on the new national forms, in
recordable form and completed pursuant to Revised Article IX of the UCC. The
Trustee will submit such UCC Financing Statements for filing in the state of
incorporation of the related Mortgagor as so indicated on the documents
provided.

            None of the Trustee, the Master Servicer, the Special Servicer or
any Custodian is under any duty or obligation to inspect, review or examine any
of the documents, instruments, certificates or other papers relating to the
Mortgage Loans delivered to it to determine that the same are valid, legal,
effective, genuine, enforceable, in recordable form, sufficient or appropriate
for the represented purpose or that they are other than what they purport to be
on their face. Capitalized terms used herein and not otherwise defined shall
have the respective meanings assigned to them under the Pooling and Servicing
Agreement.

                                  Respectfully,

                                      __________________________________________
                                      Name:_____________________________________
                                      Title: ___________________________________

<PAGE>

                                   EXHIBIT D-1

                   FORM OF MASTER SERVICER REQUEST FOR RELEASE

                                                                          [Date]

Wells Fargo Bank, N.A.
1055 10th Ave S.E.
Minneapolis, Minnesota 55414
Attn:   Corporate Trust Services - Wachovia Bank Commercial Mortgage
        Trust, Commercial Mortgage Pass-Through Certificates, Series 2006-C29

        Re:   Wachovia Bank Commercial Mortgage Trust, Commercial Mortgage
              Pass-Through Certificates, Series 2006-C29

Ladies and Gentlemen:

            In connection with the administration of the Mortgage Files held by
you as Trustee under a certain pooling and servicing agreement, dated as of
December 1, 2006 (the "Pooling and Servicing Agreement"), by and among Wachovia
Commercial Mortgage Securities, Inc., as Depositor, Wachovia Bank, National
Association, as Master Servicer, LNR Partners, Inc., as Special Servicer, and
Wells Fargo Bank, N.A., as Trustee, the undersigned hereby requests a release of
the Mortgage File (or the portion thereof specified below) held by you with
respect to the following described Mortgage Loan for the reason indicated below.

Property Name:

Property Address:

Control No.:

               The Mortgage File should be delivered to the following:

                                               _________________________________
                                               _________________________________
                                               _________________________________

                                               Attn: ___________________________
                                               Phone:___________________________

<PAGE>

If only particular documents in the Mortgage File are requested, please specify
which:

Reason for requesting file (or portion thereof):

_____         1.      Mortgage Loan paid in full.

                      The Master Servicer hereby certifies that all amounts
                      received in connection with the Mortgage Loan that are
                      required to be credited to the Certificate Account
                      pursuant to the Pooling and Servicing Agreement have been
                      or will be so credited.

_____         2.      Other.  (Describe)

                      __________________________________________________________

                      __________________________________________________________

               The undersigned acknowledges that the above Mortgage File (or
requested portion thereof) will be held by the undersigned in accordance with
the provisions of the Pooling and Servicing Agreement and will be returned to
you or your designee within ten (10) days of our receipt thereof, unless the
Mortgage Loan has been paid in full, in which case the Mortgage File (or such
portion thereof) will be retained by us permanently.

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

                                      WACHOVIA BANK, NATIONAL ASSOCIATION, as
                                          Master Servicer

                                      By: ______________________________________
                                          Name:_________________________________
                                          Title:________________________________

<PAGE>

                                   EXHIBIT D-2

                  FORM OF SPECIAL SERVICER REQUEST FOR RELEASE

                                                                          [Date]

Wells Fargo Bank, N.A.
1055 10th Ave S.E.
Minneapolis, Minnesota 55414
Minneapolis, Minnesota 55479-0113
Attn: Corporate Trust Services - Wachovia Bank Commercial Mortgage Trust,
      Commercial Mortgage Pass-Through Certificates, Series 2006-C29

      Re:   Wachovia Bank Commercial Mortgage Trust, Commercial Mortgage
            Pass-Through Certificates, Series 2006-C29

Ladies and Gentlemen:

               In connection with the administration of the Mortgage Files held
by you as Trustee under a certain pooling and servicing agreement, dated as of
December 1, 2006 (the "Pooling and Servicing Agreement"), by and among Wachovia
Commercial Mortgage Securities, Inc., as Depositor, Wachovia Bank, National
Association, as Master Servicer, LNR Partners, Inc., as Special Servicer, and
Wells Fargo Bank, N.A., as Trustee, the undersigned hereby requests a release of
the Mortgage File (or the portion thereof specified below) held by you with
respect to the following described Mortgage Loan for the reason indicated below.

Property Name:

Property Address:

Control No.:

               The Mortgage File should be delivered to the following:

                                      __________________________________________
                                      __________________________________________
                                      __________________________________________
                                      Attn: ____________________________________
                                      Phone:____________________________________

If only particular documents in the Mortgage File are requested, please specify
which:

<PAGE>

Reason for requesting file (or portion thereof):

_____         1.      The Mortgage Loan is being foreclosed.

_____         2.      Other.  (Describe)

                      __________________________________________________________

                      __________________________________________________________

               The undersigned acknowledges that the above Mortgage File (or
requested portion thereof) will be held by the undersigned in accordance with
the provisions of the Pooling and Servicing Agreement and will be returned to
you or your designee within ten (10) days of our receipt thereof, unless the
Mortgage Loan is being foreclosed, in which case the Mortgage File (or such
portion thereof) will be returned when no longer required by us for such
purpose.

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

                                      LNR PARTNERS, INC.,
                                          as Special Servicer

                                      By: ______________________________________
                                          Name:_________________________________
                                          Title:________________________________

<PAGE>

                                    EXHIBIT E

                 CALCULATION OF NOI/DEBT SERVICE COVERAGE RATIOS

               "Net Cash Flow" shall mean the revenue derived from the use and
operation of a Mortgaged Property less operating expenses (such as utilities,
administrative expenses, repairs and maintenance, tenant improvement costs,
leasing commissions, management fees and advertising), fixed expenses (such as
insurance, real estate taxes and, if applicable, ground lease payments) and
replacement reserves and an allowance for vacancies and credit losses. Net Cash
Flow does not reflect interest expenses and non-cash items such as depreciation
and amortization, and generally does not reflect capital expenditures, but does
reflect reserves for replacements and an allowance for vacancies and credit
losses.

               In determining vacancy for the "revenue" component of Net Cash
Flow for each Rental Property, the Special Servicer shall rely on the most
recent rent roll supplied by the related borrower and where the actual vacancy
shown thereon and the market vacancy is less than 1%, the Special Servicer shall
assume a 1% vacancy in determining revenue from rents, except that in the case
of certain anchored shopping centers, space occupied by anchor or single tenants
or other large tenants shall be disregarded in performing the vacancy adjustment
due to the length of the related leases or creditworthiness of such tenants, in
accordance with the respective Mortgage Loan Seller's underwriting standards.
Where the actual or market vacancy was not less than 5.0%, the Special Servicer
shall determine revenue from rents by generally relying on the most recent roll
supplied and the greater of (a) actual historical vacancy at the related
Mortgaged Property, and (b) historical vacancy at comparable properties in the
same market as the related Mortgaged Property. In determining rental revenue for
multifamily, self-storage and mobile home park properties, the Special Servicer
shall either review rental revenue shown on the certified rolling 12-month
operating statements or annualized the rental revenue and reimbursement of
expenses shown on rent rolls or operating statements with respect to the prior
one to twelve month periods. For the other Rental Properties, the Special
Servicer shall annualize rental revenue shown on the most recent certified rent
roll, after applying the vacancy factor, without further regard to the terms
(including expiration dates) of the leases shown thereon. In the case of
hospitality properties, gross receipts shall be determined on the basis of
adjusted average occupancy not to exceed 75.0% and daily rates achieved during
the prior two to three year annual reporting period. In the case of residential
health care facilities, receipts shall be based on historical occupancy levels,
historical operating revenues and the then current occupancy rates. Occupancy
rates for private health care facilities shall be within current market ranges
and vacancy levels shall be at a minimum of 1%. In general, any non-recurring
items and non-property related revenue shall be eliminated from the calculation
except in the case of residential health care facilities.

               In determining the "expense" component of Net Cash Flow for each
Mortgaged Property, the Special Servicer shall rely on the rolling 12-month
operating statements and/or full-year or year-to-date financial statements
supplied by the related borrower, except that (a) if tax or insurance expense
information more current than that reflected in the financial statements is
available, the newer information shall be used, (b) with respect to each
Mortgaged Property, property management fees shall be assumed to be 3% to 7% of
effective gross revenue (except with respect to hospitality properties, where a
minimum of 3.1% of gross receipts shall be assumed, and with respect to limited
service hospitality properties, where a minimum of 4.0% of gross receipts shall
be assumed and, with respect to single tenant properties, where fees as low as
3% of effective gross receipts shall be assumed), (c) assumptions shall be made
with respect to reserves for leasing commission, tenant improvement expenses and
capital expenditures and (d) expenses shall be assumed to include annual
replacement reserves. In addition, in some instances, the Special Servicer may
recharacterize as capital expenditures those items reported by borrowers as
operating expenses (thus increasing "net cash flow") where determined
appropriate.

<PAGE>

                                   EXHIBIT F-1

                         FORM OF TRANSFEROR CERTIFICATE

                                                                          [Date]

Wells Fargo Bank, N.A.
Wells Fargo Center.
Sixth Street and Marquette Avenue
Minneapolis, Minnesota 55479-0113
Attn:   Corporate Trust Services - Wachovia Bank
        Commercial Mortgage Trust, Commercial Mortgage Pass-Through
        Certificates, Series 2006-C29

        Re:   Wachovia Bank Commercial Mortgage Trust, Commercial Mortgage
              Pass-Through Certificates, Series 2006-C29 (the
              "Certificates")

Ladies and Gentlemen:

        This letter is delivered to you in connection with the transfer by
____________________ (the "Transferor") to _______________________ (the
"Transferee") of a Certificate (the "Transferred Certificate") having an initial
[principal balance] [notional amount] as of December 21, 2006 (the "Closing
Date") of $_____________ evidencing a __% interest in the Class to which it
belongs. The Certificates were issued pursuant to the pooling and servicing
agreement (the "Pooling and Servicing Agreement"), dated as of December 1, 2006
among Wachovia Commercial Mortgage Securities, Inc., as Depositor, Wachovia
Bank, National Association, as Master Servicer, LNR Partners, Inc., as Special
Servicer, and Wells Fargo Bank, N.A., as Trustee. All terms used herein and not
otherwise defined shall have the meanings set forth in the Pooling and Servicing
Agreement. The Transferor hereby certifies, represents and warrants to you, as
Certificate Registrar, that:

1.    The Transferor is the lawful owner of the Transferred Certificate with the
      full right to transfer such Certificate free from any and all claims and
      encumbrances whatsoever.

2.    Neither the Transferor nor anyone acting on its behalf has (a) offered,
      transferred, pledged, sold or otherwise disposed of any Certificate, any
      interest in any Certificate or any other similar security to any person in
      any manner, (b) solicited any offer to buy or accepted a transfer, pledge
      or other disposition of any Certificate, any interest in any Certificate
      or any other similar security from any person in any manner, (c) otherwise
      approached or negotiated with respect to any Certificate, any interest in
      any Certificate or any other similar security with any person in any
      manner, (d) made any general solicitation by means of general advertising
      or in any other manner, or (e) taken any other action, which (in the case
      of any of the acts described in clauses (a) through (e) hereof) would
      constitute a distribution of any Certificate under the Securities Act of
      1933, as amended (the "Securities Act"), or would render the disposition
      of any Certificate a violation of Section 5 of the Securities Act or any
      state securities laws, or would require registration or qualification of
      any Certificate pursuant to the Securities Act or any state securities
      laws.

                                      Very truly yours,

                                      __________________________________________
                                                       (Transferor)

                                      By: ______________________________________
                                          Name:_________________________________
                                          Title:________________________________

<PAGE>

                                   EXHIBIT F-2

                         FORM OF TRANSFEREE CERTIFICATE
                                    FOR QIBs

                                                                          [Date]

Wells Fargo Bank, N.A.
Wells Fargo Center.
Sixth Street and Marquette Avenue
Minneapolis, Minnesota 55479-0113
Attn:   Corporate Trust Services - Wachovia Bank
        Commercial Mortgage Trust, Commercial Mortgage Pass-Through
        Certificates, Series 2006-C29

            Re:   Wachovia Bank Commercial Mortgage Trust, Commercial Mortgage
                  Pass-Through Certificates, Series 2006-C29 (the
                  "Certificates")

Ladies and Gentlemen:

        This letter is delivered to you in connection with the transfer by
____________________ (the "Transferor") to _______________________ (the
"Transferee") of a Certificate (the "Transferred Certificate") having an initial
[principal balance] [notional amount] as of December 21, 2006 (the "Closing
Date") of $_____________ evidencing a __% interest in the Class to which it
belongs. The Certificates were issued pursuant to the pooling and servicing
agreement(the "Pooling and Servicing Agreement"), dated as of December 1, 2006
among Wachovia Commercial Mortgage Securities, Inc., as Depositor, Wachovia
Bank, National Association, as Master Servicer, LNR Partners, Inc., as Special
Servicer, and Wells Fargo Bank, N.A., as Trustee. All terms used herein and not
otherwise defined shall have the meanings set forth in the Pooling and Servicing
Agreement. The Transferee hereby certifies, represents and warrants to you, as
Certificate Registrar, that:

            1. The Transferee is a "qualified institutional buyer" as that term
      is defined in Rule 144A ("Rule 144A") under the Securities Act of 1933, as
      amended (the "Securities Act") and has completed one of the forms of
      certification to that effect attached hereto as Annex 1 and Annex 2. The
      Transferee is aware that the sale to it is being made in reliance on Rule
      144A. The Transferee is acquiring the Transferred Certificate for its own
      account or for the account of a qualified institutional buyer, and
      understands that such Certificate may be resold, pledged or transferred
      only (i) to a person reasonably believed to be a qualified institutional
      buyer that purchases for its own account or for the account of a qualified
      institutional buyer to whom notice is given that the resale, pledge or
      transfer is being made in reliance on Rule 144A, or (ii) pursuant to
      another exemption from registration under the Securities Act.

            2. In the case of a Class F, Class G, Class H or Class J
      Certificate, the Transferee either (A) is not an "employee benefit plan"
      subject to Title I of ERISA or a "plan" described by Section 4975(e)(1) of
      the Code or any other retirement plan or other employee benefit plan or
      arrangement subject to any federal, state or local law materially similar
      to the foregoing provisions of ERISA and the Code, or any entity deemed to
      hold plan assets of the foregoing by reason of a plan's investment in such
      entity (each, a "Plan") or (B) (1) qualifies as an accredited investor as
      defined in Rule 501(a)(1) of Regulation D under the Securities Act and
      satisfies all the requirements of the Exemptions as in effect at the time
      of such transfer or (2) is an insurance company general account that is
      eligible for, and satisfies all of the requirements of, Sections I and III
      of Department of Labor Prohibited Transaction Class Exemption 95-60 ("PTE
      95-60").

               In the case of a Class K, Class L, Class M, Class N, Class O,
        Class P or Class Q Certificate, the Transferee either (A) is not an
        "employee benefit plan" subject to Title I of ERISA or a "plan"
        described by Section 4975(e)(1) of the Code or any other retirement plan
        or other employee benefit plan or arrangement subject to any federal,
        state or local law materially similar to the foregoing provisions of
        ERISA and the Code, or any entity deemed to hold plan assets of the
        foregoing by reason of a plan's investment in such entity (each, a
        "Plan") or (B) is an insurance company general account which is eligible
        for, and satisfies all of the requirements for, exemptive relief under
        Sections I and III of Department of Labor Prohibited Transaction Class
        Exemption 95-60 ("PTE 95-60").

               In the case of a Class R-I, Class R-II, and Class Z Certificate,
        the Transferee is not an "employee benefit plan" subject to Title I of
        ERISA or a "plan" subject to Section 4975 of the Code or any other
        retirement plan or other employee benefit plan or arrangement subject to
        any federal, state, local, non-U.S. or other law substantively similar
        to the foregoing provisions of ERISA or the Code, or any Person directly
        or indirectly acquiring such Certificate for, on behalf of or with any
        assets of any such plan (each, a "Plan").

            3. The Transferee has been furnished with all information regarding
      (a) the Certificates and distributions thereon, (b) the nature,
      performance and servicing of the Mortgage Loans, (c) the Pooling and
      Servicing Agreement, and (d) any credit enhancement mechanism associated
      with the Certificates, that it has requested.

            4. The Transferee understands that it may not sell or otherwise
      transfer any portion of its interest in the Transferred Certificate except
      in compliance with the provisions of Section 5.02 of the Pooling and
      Servicing Agreement, which provisions it has carefully reviewed, and that
      the Transferred Certificate will bear legends substantially to the
      following effect (provided that the Class F, Class G, Class H and Class J
      Certificates will bear a legend substantially to the effect of the
      following first paragraph only):

      THE CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED OR QUALIFIED UNDER
      THE SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), OR THE
      SECURITIES LAWS OF ANY STATE. ANY RESALE, TRANSFER OR OTHER DISPOSITION OF
      THIS CERTIFICATE WITHOUT SUCH REGISTRATION OR QUALIFICATION MAY BE MADE
      ONLY IN A TRANSACTION WHICH DOES NOT REQUIRE SUCH REGISTRATION OR
      QUALIFICATION AND IN ACCORDANCE WITH THE PROVISIONS OF SECTION 5.02 OF THE
      POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.

      NO TRANSFER OF THIS CERTIFICATE OR ANY INTEREST THEREIN SHALL BE MADE TO
      ANY "EMPLOYEE BENEFIT PLAN" SUBJECT TO ERISA OR A "PLAN" DESCRIBED BY
      SECTION 4975(e)(1) OF THE CODE OR ANY OTHER RETIREMENT PLAN OR OTHER
      EMPLOYEE BENEFIT PLAN OR ARRANGEMENT SUBJECT TO ANY FEDERAL, STATE OR
      LOCAL LAW MATERIALLY SIMILAR TO THE FOREGOING PROVISIONS OF ERISA AND THE
      CODE, OR ANY ENTITY DEEMED TO HOLD PLAN ASSETS OF THE FOREGOING BY REASON
      OF A PLAN'S INVESTMENT IN SUCH ENTITY (EACH, A "PLAN") UNLESS IT IS AN
      INSURANCE COMPANY GENERAL ACCOUNT WHICH IS ELIGIBLE FOR, AND SATISFIES ALL
      OF THE REQUIREMENTS FOR, EXEMPTIVE RELIEF UNDER SECTIONS I AND III OF
      DEPARTMENT OF LABOR PROHIBITED TRANSACTION CLASS EXEMPTION 95-60 ("PTE
      95-60"). EACH PERSON WHO ACQUIRES THIS CERTIFICATE SHALL BE DEEMED TO HAVE
      CERTIFIED THAT THE FOREGOING CONDITIONS ARE SATISFIED, AND THAT IT WILL
      NOT TRANSFER THIS CERTIFICATE IN VIOLATION OF THE FOREGOING.

      [In the case of Class R-I, Class R-II or Class Z Certificates]: NO
      TRANSFER OF THIS CERTIFICATE OR ANY INTEREST THEREIN SHALL BE MADE TO ANY
      "EMPLOYEE BENEFIT PLAN" SUBJECT TO ERISA OR A "PLAN" DESCRIBED BY SECTION
      4975(e)(1) OF THE CODE, OR ANY OTHER RETIREMENT PLAN OR OTHER EMPLOYEE
      BENEFIT PLAN OR ARRANGEMENT SUBJECT TO ANY FEDERAL, STATE OR LOCAL LAW
      MATERIALLY SIMILAR TO THE FOREGOING PROVISIONS OF ERISA AND THE CODE, OR
      ANY ENTITY DEEMED TO HOLD PLAN ASSETS OF THE FOREGOING BY REASON OF A
      PLAN'S INVESTMENT IN SUCH ENTITY (EACH, A "PLAN"). EACH PERSON WHO
      ACQUIRES THIS CERTIFICATE SHALL BE DEEMED TO HAVE CERTIFIED THAT THE
      FOREGOING CONDITIONS ARE SATISFIED, AND THAT IT WILL NOT TRANSFER THIS
      CERTIFICATE IN VIOLATION OF THE FOREGOING.

            5. Neither the Transferee nor anyone acting on its behalf has (a)
      offered, pledged, sold, disposed of or otherwise transferred any
      Certificate, any interest in any Certificate or any other similar security
      to any person in any manner, (b) solicited any offer to buy or accept a
      pledge, disposition or other transfer of any Certificate, any interest in
      any Certificate or any other similar security from any person in any
      manner, (c) otherwise approached or negotiated with respect to any
      Certificate, any interest in any Certificate or any other similar security
      with any person in any manner, (d) made any general solicitation by means
      of general advertising or in any other manner, or (e) taken any other
      action, that (in the case of any of the acts described in clauses (a)
      through (e) above) would constitute a distribution of any Certificate
      under the Securities Act, would render the disposition of any Certificate
      a violation of Section 5 of the Securities Act or any state securities law
      or would require registration or qualification of any Certificate pursuant
      thereto. The Transferee will not act, nor has it authorized or will it
      authorize any person to act, in any manner set forth in the foregoing
      sentence with respect to any Certificate.

            6. Check one of the following:

   [ ]  The Transferee is a U.S. Person (as defined below) and it has attached
        hereto an Internal Revenue Service ("IRS") Form W-9 (or successor form).

   [ ]  The Transferee is not a U.S. Person and under applicable law in effect
        on the date hereof, no taxes will be required to be withheld by the
        Trustee (or its agent) with respect to distributions to be made on the
        Transferred Certificate. The Transferee has attached hereto [(i) a duly
        executed IRS Form W-8BEN (or successor form), which identifies such
        Transferee as the beneficial owner of the Transferred Certificate and
        states that such Transferee is not a U.S. Person, (ii) two duly executed
        copies of IRS Form W-8IMY (with all the appropriate attachments), or
        (iii)] two duly executed copies of IRS Form W-8ECI (or successor form),
        which identify such Transferee as the beneficial owner of the
        Transferred Certificate and state that interest and original issue
        discount on the Transferred Certificate and Permitted Investments is, or
        is expected to be, effectively connected with a U.S. trade or business.
        The Transferee agrees to provide to the Certificate Registrar updated
        [IRS Form W-8BEN, IRS Form W-8IMY or]* IRS Form W-8ECI, as the case may
        be, any applicable successor IRS forms, or such other certifications as
        the Certificate Registrar may reasonably request, on or before the date
        that any such IRS form or certification expires or becomes obsolete, or
        promptly after the occurrence of any event requiring a change in the
        most recent IRS form of certification furnished by it to the Certificate
        Registrar.

For this purpose, "U.S. Person" means a citizen or resident of the United
States, a corporation or partnership (including an entity treated as a
corporation or partnership for federal income tax purposes) created or organized
in, or under the laws of, the United States, any State thereof or the District
of Columbia unless in the case of a partnership, Treasury Regulations are
adopted that provide otherwise, an estate whose income is includable in gross
income for United States federal income tax purposes regardless of its source or
a trust if a court within the United States is able to exercise primary
supervision over the administration of the trust, and one or more United States
Persons have the authority to control all substantial decisions of the trust,
all within the meaning of Section 7701(a)(30) of the Code.

                                      Very truly yours,

                                      __________________________________________

                                                       (Transferee)

                                      By:  _____________________________________
                                           Name:________________________________
                                           Title:_______________________________

<PAGE>

                                                          ANNEX 1 TO EXHIBIT F-2

            QUALIFIED INSTITUTIONAL BUYER STATUS UNDER SEC RULE 144A

          [For Transferees Other Than Registered Investment Companies]

            The undersigned hereby certifies as follows to [name of Transferor]
(the "Transferor") and Wells Fargo Bank, N.A., as Certificate Registrar, with
respect to the mortgage pass-through certificate being transferred (the
"Transferred Certificate") as described in the Transferee Certificate to which
this certification relates and to which this certification is an Annex:

            1. As indicated below, the undersigned is the chief financial
      officer, a person fulfilling an equivalent function, or other executive
      officer of the entity purchasing the Transferred Certificate (the
      "Transferee").

            2. The Transferee is a "qualified institutional buyer" as that term
      is defined in Rule 144A under the Securities Act of 1933, as amended
      ("Rule 144A") because (i) the Transferee owned and/or invested on a
      discretionary basis $____________ / _____________ in securities (other
      than the excluded securities referred to below) as of the end of the
      Transferee's most recent fiscal year (such amount being calculated in
      accordance with Rule 144A) [Transferee must own and/or invest on a
      discretionary basis at least $100,000,000 in securities unless Transferee
      is a dealer, and, in that case, Transferee must own and/or invest on, a
      discretionary basis at least $10,000,000 in securities.] and (ii) the
      Transferee satisfies the criteria in the category marked below.

      [ ]      Corporation, etc. The Transferee is a corporation (other than a
               bank, savings and loan association or similar institution),
               business trust, partnership, or any organization described in
               Section 501(c)(3) of the Internal Revenue Code of 1986, as
               amended.

      [ ]      Bank. The Transferee (a) is a national bank or a banking
               institution organized under the laws of any State, U.S. territory
               or the District of Columbia, the business of which is
               substantially confined to banking and is supervised by the State
               or territorial banking commission or similar official or is a
               foreign bank or equivalent institution, and (b) has an audited
               net worth of at least $25,000,000 as demonstrated in its latest
               annual financial statements, a copy of which is attached hereto,
               as of a date not more than 16 months preceding the date of sale
               of the Certificate in the case of a U.S. bank, and not more than
               18 months preceding such date of sale for a foreign bank or
               equivalent institution.

      [ ]      Savings and Loan. The Transferee (a) is a savings and loan
               association, building and loan association, cooperative bank,
               homestead association or similar institution, which is supervised
               and examined by a State or Federal authority having supervision
               over any such institutions or is a foreign savings and loan
               association or equivalent institution and (b) has an audited net
               worth of at least $25,000,000 as demonstrated in its latest
               annual financial statements, a copy of which is attached hereto,
               as of a date not more than 16 months preceding the date of sale
               of the Certificate in the case of a U.S. savings and loan
               association, and not more than 18 months preceding such date of
               sale for a foreign savings and loan association or equivalent
               institution.

      [ ]      Broker-dealer. The Transferee is a dealer registered pursuant to
               Section 15 of the Securities Exchange Act of 1934.

      [ ]      Insurance Company. The Transferee is an insurance company whose
               primary and predominant business activity is the writing of
               insurance or the reinsuring of risks underwritten by insurance
               companies and which is subject to supervision by the insurance
               commissioner or a similar official or agency of a State, U.S.
               territory or the District of Columbia.

      [ ]      State or Local Plan. The Transferee is a plan established and
               maintained by a State, its political subdivisions, or any agency
               or instrumentality of the State or its political subdivisions,
               for the benefit of its employees.

      [ ]      ERISA Plan. The Transferee is an employee benefit plan within the
               meaning of Title I of the Employee Retirement Income Security Act
               of 1974, as amended.

      [ ]      Investment Advisor. The Transferee is an investment advisor
               registered under the Investment Advisers Act of 1940.

      [ ]      Other. (Please supply a brief description of the entity and a
               cross-reference to the paragraph and subparagraph under
               subsection (a)(1) of Rule 144A pursuant to which it qualifies.
               Note that registered investment companies should complete Annex 2
               rather than this Annex 1.)

            3. The term "securities" as used herein does not include (i)
      securities of issuers that are affiliated with the Transferee, (ii)
      securities that are part of an unsold allotment to or subscription by the
      Transferee, if the Transferee is a dealer, (iii) bank deposit notes and
      certificates of deposit, (iv) loan participations, (v) repurchase
      agreements, (vi) securities owned but subject to a repurchase agreement
      and (vii) currency, interest rate and commodity swaps. For purposes of
      determining the aggregate amount of securities owned and/or invested on a
      discretionary basis by the Transferee, the Transferee did not include any
      of the securities referred to in this paragraph.

            4. For purposes of determining the aggregate amount of securities
      owned and/or invested on a discretionary basis by the Transferee, the
      Transferee used the cost of such securities to the Transferee, unless the
      Transferee reports its securities holdings in its financial statements on
      the basis of their market value, and no current information with respect
      to the cost of those securities has been published, in which case the
      securities were valued at market. Further, in determining such aggregate
      amount, the Transferee may have included securities owned by subsidiaries
      of the Transferee, but only if such subsidiaries are consolidated with the
      Transferee in its financial statements prepared in accordance with
      generally accepted accounting principles and if the investments of such
      subsidiaries are managed under the Transferee's direction. However, such
      securities were not included if the Transferee is a majority-owned,
      consolidated subsidiary of another enterprise and the Transferee is not
      itself a reporting company under the Securities Exchange Act of 1934, as
      amended.

            5. The Transferee acknowledges that it is familiar with Rule 144A
      and understands that the parties to which this certification is being made
      are relying and will continue to rely on the statements made herein
      because one or more sales to the Transferee may be in reliance on Rule
      144A.

             ________             ________       Will the Transferee be
                Yes                  No          purchasing the Transferred
                                                 Certificate only for the
                                                 Transferee's own account?

            6. If the answer to the foregoing question is "no", then in each
      case where the Transferee is purchasing for an account other than its own,
      such account belongs to a third party that is itself a "qualified
      institutional buyer" within the meaning of Rule 144A, and the "qualified
      institutional buyer" status of such third party has been established by
      the Transferee through one or more of the appropriate methods contemplated
      by Rule 144A.

            7. The Transferee will notify each of the parties to which this
      certification is made of any changes in the information and conclusions
      herein. Until such notice is given, the Transferee's purchase of the
      Transferred Certificate will constitute a reaffirmation of this
      certification as of the date of such purchase. In addition, if the
      Transferee is a bank or savings and loan as provided above, the Transferee
      agrees that it will furnish to such parties any updated annual financial
      statements that become available on or before the date of such purchase,
      promptly after they become available.

                                               Print Name of Transferee

                                               By: _____________________________
                                                   Name:________________________
                                                   Title:_______________________
                                                   Date:________________________

<PAGE>

                                                          ANNEX 2 TO EXHIBIT F-2

                   QUALIFIED INSTITUTIONAL BUYER STATUS UNDER SEC RULE 144A

                  [For Transferees That Are Registered Investment Companies]

            The undersigned hereby certifies as follows to [name of Transferor]
(the "Transferor") and Wells Fargo Bank, N.A., as Certificate Registrar, with
respect to the mortgage pass-through certificate being transferred (the
"Transferred Certificate") as described in the Transferee Certificate to which
this certification relates and to which this certification is an Annex:

            1. As indicated below, the undersigned is the chief financial
      officer, a person fulfilling an equivalent function, or other executive
      officer of the entity purchasing the Transferred Certificate (the
      "Transferee") or, if the Transferee is a "qualified institutional buyer"
      as that term is defined in Rule 144A under the Securities Act of 1933, as
      amended ("Rule 144A"), because the Transferee is part of a Family of
      Investment Companies (as defined below), is an executive officer of the
      investment adviser (the "Adviser").

            2. The Transferee is a "qualified institutional buyer" as defined in
      Rule 144A because (i) the Transferee is an investment company registered
      under the Investment Company Act of 1940, and (ii) as marked below, the
      Transferee alone owned and/or invested on a discretionary basis, or the
      Transferee's Family of Investment Companies owned, at least $100,000,000
      in securities (other than the excluded securities referred to below) as of
      the end of the Transferee's most recent fiscal year. For purposes of
      determining the amount of securities owned by the Transferee or the
      Transferee's Family of Investment Companies, the cost of such securities
      was used, unless the Transferee or any member of the Transferee's Family
      of Investment Companies, as the case may be, reports its securities
      holdings in its financial statements on the basis of their market value,
      and no current information with respect to the cost of those securities
      has been published, in which case the securities of such entity were
      valued at market.

      [ ]      The Transferee owned and/or invested on a discretionary basis
               $___________ in securities (other than the excluded securities
               referred to below) as of the end of the Transferee's most recent
               fiscal year (such amount being calculated in accordance with Rule
               144A).

      [ ]      The Transferee is part of a Family of Investment Companies which
               owned in the aggregate $___________ in securities (other than the
               excluded securities referred to below) as of the end of the
               Transferee's most recent fiscal year (such amount being
               calculated in accordance with Rule 144A).

            In the case of a Class R-I, Class R-II or Class Z Certificate, the
Transferee is not an "employee benefit plan" subject to Title I of ERISA or a
"plan" described by Section 4975(e)(1) of the Code or any other retirement plan
or other employee benefit plan or arrangement subject to any federal, state or
local law materially similar to the foregoing provisions of ERISA and the Code,
or any entity deemed to hold plan assets of the foregoing by reason of a plan's
investment in such entity (each, a "Plan").

            3. The term "Family of Investment Companies" as used herein means
      two or more registered investment companies (or series thereof) that have
      the same investment adviser or investment advisers that are affiliated (by
      virtue of being majority owned subsidiaries of the same parent or because
      one investment adviser is a majority owned subsidiary of the other).

            4. The term "securities" as used herein does not include (i)
      securities of issuers that are affiliated with the Transferee or are part
      of the Transferee's Family of Investment Companies, (ii) bank deposit
      notes and certificates of deposit, (iii) loan participations, (iv)
      repurchase agreements, (v) securities owned but subject to a repurchase
      agreement and (vi) currency, interest rate and commodity swaps. For
      purposes of determining the aggregate amount of securities owned and/or
      invested on a discretionary basis by the Transferee, or owned by the
      Transferee's Family of Investment Companies, the securities referred to in
      this paragraph were excluded.

            5. The Transferee is familiar with Rule 144A and understands that
      the parties to which this certification is being made are relying and will
      continue to rely on the statements made herein because one or more sales
      to the Transferee will be in reliance on Rule 144A.

             ________             ________       Will the Transferee be
                Yes                  No          purchasing the Transferred
                                                 Certificate only for the
                                                 Transferee's own account?

            6. If the answer to the foregoing question is "no", then in each
      case where the Transferee is purchasing for an account other than its own,
      such account belongs to a third party that is itself a "qualified
      institutional buyer" within the meaning of Rule 144A, and the "qualified
      institutional buyer" status of such third party has been established by
      the Transferee through one or more of the appropriate methods contemplated
      by Rule 144A.

            7. The undersigned will notify the parties to which this
      certification is made of any changes in the information and conclusions
      herein. Until such notice, the Transferee's purchase of the Transferred
      Certificate will constitute a reaffirmation of this certification by the
      undersigned as of the date of such purchase.

                                            Print Name of Transferee or Adviser

                                            By: ________________________________
                                                Name:___________________________
                                                Title:__________________________

<PAGE>

                                   EXHIBIT F-3

                         FORM OF TRANSFEREE CERTIFICATE
                                  FOR NON-QIBs

                                                                          [Date]

Wells Fargo Bank, N.A.
1055 10th Ave S.E.
Minneapolis, Minnesota 55414
Attn:   Corporate Trust Services - Wachovia Bank
        Commercial Mortgage Trust, Commercial Mortgage Pass-Through
        Certificates, Series 2006-C29

            Re:   Wachovia Bank Commercial Mortgage Trust, Commercial Mortgage
                  Pass-Through Certificates, Series 2006-C29 (the
                  "Certificates")

Ladies and Gentlemen:

              This letter is delivered to you in connection with the transfer by
____________________ (the "Transferor") to _______________________ (the
"Transferee") of a Certificate (the "Transferred Certificate") having an initial
[principal balance] [notional amount] as of December 21, 2006 (the "Closing
Date") of $_____________ evidencing a __% interest in the Class to which it
belongs. The Certificates were issued pursuant to the pooling and servicing
agreement(the "Pooling and Servicing Agreement"), dated as of December 1, 2006
among Wachovia Commercial Mortgage Securities, Inc., as Depositor, Wachovia
Bank, National Association, as Master Servicer, LNR Partners, Inc., as Special
Servicer, and Wells Fargo Bank, N.A., as Trustee. All terms used herein and not
otherwise defined shall have the meanings set forth in the Pooling and Servicing
Agreement. The Transferee hereby certifies, represents and warrants to you, as
Certificate Registrar, that:

              1. The Transferee is acquiring the Transferred Certificate for its
       own account for investment and not with a view to or for sale or transfer
       in connection with any distribution thereof, in whole or in part, in any
       manner which would violate the Securities Act of 1933, as amended (the
       "Securities Act"), or any applicable state securities laws.

              2. The Transferee understands that (a) the Certificates have not
       been and will not be registered under the Securities Act or registered or
       qualified under any applicable state securities laws, (b) neither the
       Depositor nor the Trustee or the Certificate Registrar is obligated so to
       register or qualify the Certificates and (c) the Certificates may not be
       resold or transferred unless they are (i) registered pursuant to the
       Securities Act and registered or qualified pursuant to any applicable
       state securities laws or (ii) sold or transferred in transactions which
       are exempt from such registration and qualification and the Certificate
       Registrar has received either (A) certifications from both the transferor
       and the transferee (substantially in the forms attached to the Pooling
       and Servicing Agreement) setting forth the facts surrounding the transfer
       or (B) an opinion of counsel satisfactory to the Certificate Registrar
       with respect to the availability of such exemption (which Opinion of
       Counsel shall not be an expense of the Trust Fund or of the Depositor,
       the Master Servicer, the Special Servicer, the Trustee or the Certificate
       Registrar in their respective capacities as such), together with copies
       of the certification(s) from the Transferor and/or Transferee setting
       forth the facts surrounding the transfer upon which such opinion is
       based. Any holder of a Certificate desiring to effect such a transfer
       shall, and upon acquisition of such Certificate shall be deemed to have
       agreed to, indemnify the Master Servicer, the Special Servicer, Trustee,
       the Certificate Registrar and the Depositor against any liability that
       may result if the transfer is not so exempt or is not made in accordance
       with such federal and state laws.

              3. The Transferee understands that it may not sell or otherwise
       transfer any portion of its interest in the Transferred Certificate
       except in compliance with the provisions of Section 5.02 of the Pooling
       and Servicing Agreement, which provisions it has carefully reviewed, and
       that the Transferred Certificate will bear legends substantially to the
       following effect (provided that the Class F, Class G, Class H and Class J
       Certificates will bear a legend substantially to the effect of the
       following first paragraph only):

       THE CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED OR QUALIFIED
       UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), OR
       THE SECURITIES LAWS OF ANY STATE. ANY RESALE, TRANSFER OR OTHER
       DISPOSITION OF THIS CERTIFICATE WITHOUT SUCH REGISTRATION OR
       QUALIFICATION MAY BE MADE ONLY IN A TRANSACTION WHICH DOES NOT REQUIRE
       SUCH REGISTRATION OR QUALIFICATION AND IN ACCORDANCE WITH THE PROVISIONS
       OF SECTION 5.02 OF THE POOLING AND SERVICING AGREEMENT REFERRED TO
       HEREIN.

       NO TRANSFER OF THIS CERTIFICATE OR ANY INTEREST THEREIN SHALL BE MADE TO
       ANY "EMPLOYEE BENEFIT PLAN" SUBJECT TO TITLE I OF ERISA OR A "PLAN"
       DESCRIBED BY SECTION 4975(e)(1) OF THE CODE OR ANY OTHER RETIREMENT PLAN
       OR OTHER EMPLOYEE BENEFIT PLAN OR ARRANGEMENT SUBJECT TO ANY FEDERAL,
       STATE OR LOCAL LAW MATERIALLY SIMILAR TO THE FOREGOING PROVISIONS OF
       ERISA AND THE CODE, OR ANY ENTITY DEEMED TO HOLD PLAN ASSETS OF THE
       FOREGOING BY REASON OF A PLAN'S INVESTMENT IN SUCH ENTITY (EACH, A
       "PLAN") UNLESS IT IS AN INSURANCE COMPANY GENERAL ACCOUNT WHICH IS
       ELIGIBLE FOR, AND SATISFIES ALL OF THE REQUIREMENTS FOR, EXEMPTIVE RELIEF
       UNDER SECTIONS I AND III OF DEPARTMENT OF LABOR PROHIBITED TRANSACTION
       CLASS EXEMPTION 95-60 ("PTE 95-60"). EACH PERSON WHO ACQUIRES THIS
       CERTIFICATE SHALL BE DEEMED TO HAVE CERTIFIED THAT THE FOREGOING
       CONDITIONS ARE SATISFIED, AND THAT IT WILL NOT TRANSFER THIS CERTIFICATE
       IN VIOLATION OF THE FOREGOING.

       [In the case of Class R-I, Class R-II and Class Z Certificates]: NO
       TRANSFER OF THIS CERTIFICATE OR ANY INTEREST THEREIN SHALL BE MADE TO ANY
       "EMPLOYEE BENEFIT PLAN" SUBJECT TO ERISA OR A "PLAN" DESCRIBED BY SECTION
       4975(e)(1) OF THE CODE, OR ANY OTHER RETIREMENT PLAN OR OTHER EMPLOYEE
       BENEFIT PLAN OR ARRANGEMENT SUBJECT TO ANY FEDERAL, STATE OR LOCAL LAW
       MATERIALLY SIMILAR TO THE FOREGOING PROVISIONS OF ERISA AND THE CODE, OR
       ANY ENTITY DEEMED TO HOLD PLAN ASSETS OF THE FOREGOING BY REASON OF A
       PLAN'S INVESTMENT IN SUCH ENTITY (EACH, A "PLAN"). EACH PERSON WHO
       ACQUIRES THIS CERTIFICATE SHALL BE DEEMED TO HAVE CERTIFIED THAT THE
       FOREGOING CONDITIONS ARE SATISFIED, AND THAT IT WILL NOT TRANSFER THIS
       CERTIFICATE IN VIOLATION OF THE FOREGOING.

              4. Neither the Transferee nor anyone acting on its behalf has (a)
       offered, pledged, sold, disposed of or otherwise transferred any
       Certificate, any interest in any Certificate or any other similar
       security to any person in any manner, (b) solicited any offer to buy or
       accept a pledge, disposition or other transfer of any Certificate, any
       interest in any Certificate or any other similar security from any person
       in any manner, (c) otherwise approached or negotiated with respect to any
       Certificate, any interest in any Certificate or any other similar
       security with any person in any manner, (d) made any general solicitation
       by means of general advertising or in any other manner, or (e) taken any
       other action, that (in the case of any of the acts described in clauses
       (a) through (e) above) would constitute a distribution of any Certificate
       under the Securities Act, would render the disposition of any Certificate
       a violation of Section 5 of the Securities Act or any state securities
       law or would require registration or qualification of any Certificate
       pursuant thereto. The Transferee will not act, nor has it authorized or
       will it authorize any person to act, in any manner set forth in the
       foregoing sentence with respect to any Certificate.

              5. The Transferee has been furnished with all information
       regarding (a) the Depositor, (b) the Certificates and distributions
       thereon, (c) the Pooling and Servicing Agreement, and (d) all related
       matters, that it has requested.

              6. The Transferee has been furnished a copy of the private
       placement memorandum (the "Private Placement Memorandum"), dated December
       13, 2006 and has read such Private Placement Memorandum.

              7. The Transferee is an "accredited investor" as defined in Rule
       501(a)(1), (2), (3) or (7) under the Securities Act and has such
       knowledge and experience in financial and business matters as to be
       capable of evaluating the merits and risks of an investment in the
       Certificates; the Transferee has sought such accounting, legal and tax
       advice as it has considered necessary to make an informed investment
       decision; and the Transferee is able to bear the economic risks of such
       an investment and can afford a complete loss of such investment.

              8. In the case of the Class F, Class G, Class H or Class J
       Certificates, the Transferee either (A) is not an "employee benefit plan"
       subject to Title I of ERISA or a "plan" described by Section 4975(e)(1)
       of the Code or any other retirement plan or other employee benefit plan
       or arrangement subject to any federal, state or local law materially
       similar to the foregoing provisions of ERISA and the Code, or any entity
       deemed to hold plan assets of the foregoing by reason of a plan's
       investment in such entity (each, a "Plan") or (B) (1) qualifies as an
       accredited investor as defined in Rule 501(a)(1) of Regulation D under
       the Securities Act and satisfies all the requirements of the Exemptions
       as in effect at the time of such transfer or (2) is an insurance company
       general account that is eligible for, and satisfies all of the
       requirements for, Sections I and III of Department of Labor Prohibited
       Transaction Class Exemption 95-60 ("PTE 95-60").

              9. In the case of Class K, Class L, Class M, Class N, Class O,
       Class P or Class Q Certificates, the Transferee either (A) is not an
       "employee benefit plan" subject to Title I of ERISA or a "plan" described
       by Section 4975(e)(1) of the Code, or any other retirement plan or other
       employee benefit plan or arrangement subject to any federal, state or
       local law materially similar to the foregoing provisions of ERISA and the
       Code, or any entity deemed to hold plan assets of the foregoing by reason
       of a plan's investment in such entity (each, a "Plan") or (B) is an
       insurance company general account which is eligible for, and satisfies
       all of the requirements for, exemptive relief under Sections I and III of
       Department of Labor Prohibited Transaction Class Exemption ("PTE 95-60").

              In the case of a Class R-I, Class R-II, and Class Z Certificate,
the Transferee is not an "employee benefit plan" subject to Title I of ERISA or
a "plan" subject to Section 4975 of the Code or any other retirement plan or
other employee benefit plan or arrangement subject to any federal, state, local,
non U.S. or other law substantively similar to the foregoing provisions of ERISA
or the Code, or any Person directly or indirectly acquiring such Certificate
for, on behalf of or with any assets of any such plan (each a "Plan").

              10. Check one of the following:

      [ ]     The Transferee is a U.S. Person (as defined below) and it has
              attached hereto an Internal Revenue Service ("IRS") Form W-9 (or
              successor form).

      [ ]     (5)The Transferee is not a U.S. Person and under applicable law
              in effect on the date hereof, no taxes will be required to be
              withheld by the Trustee (or its agent) with respect to
              distributions to be made on the Transferred Certificate. The
              Transferee has attached hereto [(i) a duly executed IRS Form
              W-8BEN (or successor form), which identifies such Transferee as
              the beneficial owner of the Transferred Certificate and states
              that such Transferee is not a U.S. Person, (ii) two duly executed
              copies of IRS Form W-8IMY (with all the appropriate attachments),
              or (iii)]* two duly executed copies of IRS Form W-8ECI (or
              successor form), which identify such Transferee as the beneficial
              owner of the Transferred Certificate and state that interest and
              original issue discount on the Transferred Certificate and
              Permitted Investments is, or is expected to be, effectively
              connected with a U.S. trade or business. The Transferee agrees to
              provide to the Certificate Registrar updated [IRS Form W-8BEN,
              IRS Form W-8IMY or]* IRS Form W-8ECI, as the case may be, any
              applicable successor IRS forms, or such other certifications as
              the Certificate Registrar may reasonably request, on or before
              the date that any such IRS form or certification expires or
              becomes obsolete, or promptly after the occurrence of any event
              requiring a change in the most recent IRS form of certification
              furnished by it to the Certificate Registrar.

For this purpose, "U.S. Person" means a citizen or resident of the United
States, a corporation or partnership (including an entity treated as a
corporation or partnership for federal income tax purposes) created or organized
in, or under the laws of, the United States, any State thereof or the District
of Columbia unless in the case of a partnership, Treasury Regulations are
adopted that provide otherwise, an estate whose income is includable in gross
income for United States federal income tax purposes regardless of its source or
a trust if a court within the United States is able to exercise primary
supervision over the administration of the trust, and one or more United States
Persons have the authority to control all substantial decisions of the trust,
all within the meaning of Section 7701(a)(30) of the Code.

                                               Very truly yours,

                                                ________________________________
                                                          (Transferee)

                                               By: _____________________________
                                                   Name:________________________
                                                   Title:_______________________

-----------------
(5) [Does not apply to Class R-I or Class R-II Certificates.]
* Delete for Class R-I and Class R-II Certificates.

<PAGE>

                                   EXHIBIT F-4

                         FORM OF TRANSFEREE CERTIFICATE
                           FOR REGULATION S TRANSFERS

                                                                          [Date]

Wells Fargo Bank, N.A.
Wells Fargo Center.
Sixth Street and Marquette Avenue
Minneapolis, Minnesota 55479-0113
Attn:   Corporate Trust Service Group
        Wachovia Bank Commercial Mortgage Trust
        Commercial Mortgage Pass-Through Certificates,
        Series 2006-C29

        Re:   Wachovia Bank Commercial Mortgage Trust,
              Commercial Mortgage Pass-Through Certificates,
              Series 2006-C29 (the "Certificates")

Ladies and Gentlemen:

            This letter is delivered to you in connection with the transfer by
____________________ (the "Transferor") to _______________________ (the
"Transferee") of a Certificate (the "Transferred Certificate") having an initial
[principal balance] [notional amount] as of December 21, 2006 (the "Closing
Date") of $_____________ evidencing a __% interest in the Class Certificates.
The Certificates were issued pursuant to the pooling and servicing agreement
(the "Pooling and Servicing Agreement"), dated as of December 1, 2006, among
Wachovia Commercial Mortgage Securities, Inc., as Depositor, Wachovia Bank,
National Association, as Master Servicer, LNR Partners, Inc., as Special
Servicer, and Wells Fargo Bank, N.A., as Trustee. All terms used herein and not
otherwise defined shall have the meanings set forth in the Pooling and Servicing
Agreement. The Transferee hereby certifies, represents and warrants to you, as
Certificate Registrar, that:

            1. The Transferee is not acquiring the Transferred Certificate in
      any manner which would violate the Securities Act of 1933, as amended (the
      "Securities Act"), or any applicable state securities laws.

            2. The Transferee understands that (a) the Certificates have not
      been and will not be registered under the Securities Act or registered or
      qualified under any applicable state securities laws, (b) neither the
      Depositor nor the Trustee nor the Certificate Registrar is obligated so to
      register or qualify the Certificates and (c) the Certificates may not be
      resold or transferred unless they are (i) registered pursuant to the
      Securities Act and registered or qualified pursuant to any applicable
      state securities laws or (ii) sold or transferred in transactions which
      are exempt from such registration and qualification and the Certificate
      Registrar has received either (A) certifications from both the transferor
      and the transferee (substantially in the forms attached to the Pooling and
      Servicing Agreement) setting forth the facts surrounding the transfer or
      (B) an opinion of counsel satisfactory to the Certificate Registrar with
      respect to the availability of such exemption (which Opinion of Counsel
      shall not be an expense of the Trust Fund or of the Depositor, the Master
      Servicer, the Special Servicer, the Trustee, or the Certificate Registrar
      in their respective capacities as such), together with copies of the
      certification(s) from the Transferor and/or Transferee setting forth the
      facts surrounding the transfer upon which such opinion is based. Any
      holder of a Certificate desiring to effect such a transfer shall, and upon
      acquisition of such Certificate shall be deemed to have agreed to,
      indemnify the Master Servicer, the Special Servicer, the Trustee, the
      Certificate Registrar and the Depositor against any liability that may
      result if the transfer is not so exempt or is not made in accordance with
      such federal and state laws.

            3. The Transferee understands that it may not sell or otherwise
      transfer any portion of its interest in the Transferred Certificate except
      in compliance with the provisions of Section 5.02 of the Pooling and
      Servicing Agreement, which provisions it has carefully reviewed, and that
      the Transferred Certificate will bear a legend substantially to the
      following effect:

THE CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED OR QUALIFIED UNDER THE
SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), OR THE SECURITIES
LAWS OF ANY STATE. ANY RESALE, TRANSFER OR OTHER DISPOSITION OF THIS CERTIFICATE
WITHOUT SUCH REGISTRATION OR QUALIFICATION MAY BE MADE ONLY IN A TRANSACTION
WHICH DOES NOT REQUIRE SUCH REGISTRATION OR QUALIFICATION AND IN ACCORDANCE WITH
THE PROVISIONS OF SECTION 5.02 OF THE POOLING AND SERVICING AGREEMENT REFERRED
TO HEREIN.

            4. Neither the Transferee nor anyone acting on its behalf has (a)
      offered, pledged, sold, disposed of or otherwise transferred any
      Certificate, any interest in any Certificate or any other similar security
      to any person in any manner, (b) solicited any offer to buy or accept a
      pledge, disposition or other transfer of any Certificate, any interest in
      any Certificate or any other similar security from any person in any
      manner, (c) otherwise approached or negotiated with respect to any
      Certificate, any interest in any Certificate or any other similar security
      with any person in any manner, (d) made any general solicitation by means
      of general advertising or in any other manner, or (e) taken any other
      action, that (in the case of any of the acts described in clauses (a)
      through (e) above) would constitute a distribution of any Certificate
      under the Securities Act, would render the disposition of any Certificate
      a violation of Section 5 of the Securities Act or any state securities law
      or would require registration or qualification of any Certificate pursuant
      thereto. The Transferee will not act, nor has it authorized or will it
      authorize any person to act, in any manner set forth in the foregoing
      sentence with respect to any Certificate.

            5. The Transferee has been furnished with all information regarding
      (a) the Depositor, (b) the Certificates and distributions thereon, (c) the
      Pooling and Servicing Agreement, and (d) all related matters, that it has
      requested.

            6. The Transferee has been furnished a copy of the Private Placement
      Memorandum, dated December 13, 2006 and has read such Private Placement
      Memorandum.

            7. The offer of the Certificates was not made to a person in the
      United States. No directed selling efforts have been made in contravention
      of the requirements of Rule 903(b) or Rule 904(b) of Regulation S, as
      applicable. The transaction is not part of a plan or scheme to evade the
      registration requirements of the Securities Act.

            8. Check one of the following:*

               ______ At the time the buy order was originated, the Transferee
               was outside the United States.

               ______ The transaction was executed in, on or through the
               facilities of a designated offshore securities market and the
               Transferee does not know that the transaction was pre-arranged
               with a buyer in the United States.

               *______These two provisions come from the definition of "offshore
transaction" in Regulation S.

            9. The Transferee either (A) is not an "employee benefit plan"
      subject to ERISA or a "plan" subject to Section 4975 of the Code or any
      other retirement plan or other employee benefit plan or arrangement
      subject to any federal, state, local, non-U.S. or other law substantively
      similar to the foregoing provisions of ERISA or the Code, or any Person
      acting directly or indirectly for, on behalf of, or with any assets of the
      foregoing by (each, a "Plan") or (B) (1) qualifies as an accredited
      investor as defined in Rule 501(a)(1) of Regulation D under the Securities
      Act and satisfies all the requirements of the Exemptions as in effect at
      the time of such transfer or (2) is an insurance company general account
      that is eligible for, and satisfies all of the requirements for, Sections
      I and III of Department of Labor Prohibited Transaction Class Exemption
      95-60 ("PTE 95-60").

            10. The Transferee is not a U.S. Person and under applicable law in
      effect on the date hereof, no taxes will be required to be withheld by the
      Trustee (or its agent) with respect to distributions to be made on the
      Transferred Certificate. The Transferee has attached hereto (i) a duly
      executed IRS Form W-8BEN (or successor form), which identifies such
      Transferee as the beneficial owner of the Transferred Certificate and
      states that such Transferee is not a U.S. Person, (ii) two duly executed
      copies of IRS Form W-8IMY (with all the appropriate attachments) or (iii)
      two duly executed copies of IRS Form W-8ECI (or successor form), which
      identify such Transferee as the beneficial owner of the Transferred
      Certificate and state that interest and original issue discount on the
      Transferred Certificate and Permitted Investments is, or is expected to
      be, effectively connected with a U.S. trade or business. The Transferee
      agrees to provide to the Certificate Registrar updated IRS Form W 8BEN,
      IRS Form W-8IMY or IRS Form W-8ECI, as the case may be, any applicable
      successor IRS forms, or such other certifications as the Certificate
      Registrar may reasonably request, on or before the date that any such IRS
      form or certification expires or becomes obsolete, or promptly after the
      occurrence of any event requiring a change in the most recent IRS form of
      certification furnished by it to the Certificate Registrar.

For this purpose, "U.S. Person" means a citizen or resident of the United
States, a corporation or partnership (including an entity treated as a
corporation or partnership for federal income tax purposes) created or organized
in, or under the laws of, the United States, any State thereof or the District
of Columbia unless in the case of a partnership, Treasury Regulations are
adopted that provide otherwise, an estate whose income is includable in gross
income for United States federal income tax purposes regardless of its source or
a trust if a court within the United States is able to exercise primary
supervision over the administration of the trust, and one or more U.S. Persons
have the authority to control all substantial decisions of the trust (or, to the
extent provided in applicable Treasury Regulations, certain trusts in existence
on August 20, 1996 which are eligible to elect to be treated as U.S. Persons),
all within the meaning of Section 7701(a)(30) of the Code.

                                               Very truly yours,

                                               _________________________________
                                                         (Transferor)

                                               By:   ___________________________
                                                     Name:  ____________________
                                                     Title:  ___________________

<PAGE>

                                   EXHIBIT F-5

                          FORM OF TRANSFER CERTIFICATE
                          FOR EXCHANGE OR TRANSFER FROM
                   DOMESTIC GLOBAL CERTIFICATE TO REGULATION S
                 GLOBAL CERTIFICATE DURING THE RESTRICTED PERIOD

Wells Fargo Bank, N.A.
Wells Fargo Center
Sixth Street and Marquette Avenue
Minneapolis, Minnesota  55479-0113
Attn: Corporate Trust Services--Wachovia Bank Commercial Mortgage Trust,
      Commercial Mortgage Pass-Through Certificates, Series 2006-C29

      Re:   Wachovia Bank Commercial Mortgage Trust, Commercial Mortgage
            Pass-Through Certificates, Series 2006-C29, Class [__] Certificate

            Transfer of Wachovia Bank Commercial Mortgage Trust, Commercial
            Mortgage Pass-Through Certificates, Series 2006-C29, Class [__]
            Certificate

Ladies and Gentlemen:

            Reference is hereby made to the pooling and servicing agreement,
dated as of December 1, 2006 (the "Pooling and Servicing Agreement"), by and
among Wachovia Mortgage Commercial Securities, Inc., as Depositor, Wachovia
Bank, National Association, as Master Servicer, LNR Partners, Inc., as Special
Servicer, and Wells Fargo Bank, N.A., as Trustee. Capitalized terms used but not
defined herein shall have the meanings given to them in the Pooling and
Servicing Agreement.

            This letter relates to US $[__________] aggregate Certificate
Principal Amount of Certificates (the "Certificates") which are held in the form
of the Domestic Global Certificate (CUSIP No. _____________) with the Depository
in the name of [insert name of transferor] (the "Transferor"). The Transferor
has requested a transfer of such beneficial interest for an interest in the
Regulation S Global Certificate (CUSIP No. ____________) to be held with
[Euroclear] [Clearstream]* (ISIN No. _____________) through the Depository.

            In connection with such request and in respect of such Certificates,
the Transferor does hereby certify that such transfer has been effected in
accordance with the transfer restrictions set forth in the Pooling and Servicing
Agreement and pursuant to and in accordance with Regulation S under the
Securities Act of 1933, as amended (the "Securities Act"), and accordingly the
Transferor does hereby certify that:

            1. the offer of the Certificates was not made to a person in the
United States,

            [2. at the time the buy order was originated, the transferee was
outside the United States or the Transferor and any persons acting on its behalf
reasonably believed that the transferee was outside the United States,]**

            [2. the transaction was executed in, on or through the facilities of
a designated offshore securities market and neither the Transferor nor any
person acting on its behalf knows that the transaction was prearranged with a
buyer in the United States,]**

            3. no directed selling efforts have been made in contravention of
      the requirements of Rule 903(b) or 904(b) of Regulation S, as applicable,
      and

            4. the transaction is not part of a plan or scheme to evade the
      registration requirements of the Securities Act.

            This certificate and the statements contained herein are made for
your benefit and the benefit of the Depositor, the Trustee, the Master Servicer
and the Special Servicer.

                                               [Insert Name of Transferor]

                                               By: _____________________________
                                                   Name:
                                                   Title:

Dated:_____________ __, _____

-------------------------
* Select appropriate depository.
** Insert one of these two provisions, which come from the definition of
"offshore transaction" in Regulation S.

<PAGE>

                                   EXHIBIT F-6

                          FORM OF TRANSFER CERTIFICATE
                     FOR EXCHANGE OR TRANSFER FROM DOMESTIC
                    GLOBAL CERTIFICATE TO REGULATION S GLOBAL
                     CERTIFICATE AFTER THE RESTRICTED PERIOD

Wells Fargo Bank, N.A.
Wells Fargo Center
Sixth Street and Marquette Avenue
Minneapolis, Minnesota  55479-0113
Attn: Corporate Trust Services--Wachovia Bank Commercial Mortgage Trust,
      Commercial Mortgage Pass-Through Certificates, Series 2006-C29

      Re:   Transfer of the Wachovia Bank Commercial Mortgage Trust, Commercial
            Mortgage Pass-Through Certificates, Series 2006-C29, Class [__]
            Certificate

Ladies and Gentleman:

            Reference is hereby made to the pooling and servicing agreement,
dated as of December 1, 2006 (the "Pooling and Servicing Agreement"), by and
among Wachovia Commercial Mortgage Securities, Inc., as Depositor, Wachovia
Bank, National Association, as Master Servicer, LNR Partners, Inc., as Special
Servicer, and Wells Fargo Bank, N.A., as Trustee. Capitalized terms used but not
defined herein shall have the meanings given to them in the Pooling and
Servicing Agreement.

            This letter relates to US $[____________] aggregate Certificate
Principal Amount of Certificates (the "Certificates") which are held in the form
of the Domestic Global Certificate (CUSIP No. ________) with the Depository in
the name of [insert name of Transferor] (the "Transferor"). The Transferor has
requested a transfer of such beneficial interest in the Certificates for an
interest in the Regulation S Global Certificate (ISIN No. __________).

            In connection with such request, and in respect of such
Certificates, the Transferor does hereby certify that such transfer has been
effected in accordance with the transfer restrictions set forth in the Pooling
and Servicing Agreement and, (i) with respect to transfers made in reliance on
Regulation S under the Securities Act of 1933, as amended (the "Securities
Act"), the Transferor does hereby certify that:

            1. the offer of the Certificates was not made to a person in the
United States,

            [2. at the time the buy order was originated, the transferee was
outside the United States or the Transferor and any person acting on its behalf
reasonably believed that the transferee was outside the United States,]*

            [2. the transaction was executed in, on or through the facilities of
a designated offshore securities market and neither the Transferor nor any
person action on its behalf knows that the transaction was prearranged with a
buyer in the United States,]*

            3. no directed selling efforts have been made in contravention of
      the requirements of Rule 903(b) or 904(b) of Regulation S, as applicable,
      and

            4. the transaction is not part of a plan or scheme to evade the
      registration requirements of the Securities Act;

            or (ii) with respect to transfers made in reliance on Rule 144 under
the Securities Act, the Transferor does hereby certify that the Certificates
that are being transferred are not "restricted securities" as defined in Rule
144 under the Securities Act.

            This certificate and the statements contained herein are made for
your benefit and the benefit of the Depositor, the Master Servicer, the Special
Servicer and the Trustee.

                                               [Insert Name of Transferor]

                                               By: _____________________________
                                                   Name:
                                                   Title:

________ __, ____

---------------------
* Insert one of these two provisions, which come from the definition of
"offshore transaction" in Regulation S.

<PAGE>

                                    EXHIBIT G

                         FORM OF TRANSFEREE CERTIFICATE

                                                                          [Date]

Wells Fargo Bank, N.A.
Wells Fargo Center
Sixth Street and Marquette Avenue
Minneapolis, Minnesota 55479-0113
Attn:   Corporate Trust Services - Wachovia Bank
        Commercial Mortgage Trust, Commercial Mortgage Pass-Through
        Certificates, Series 2006-C29

      Re:   Wachovia Bank Commercial Mortgage Trust, Commercial Mortgage
            Pass-Through Certificates, Series 2006-C29 (the "Certificates")

Ladies and Gentlemen:

            This letter is delivered to you in connection with the transfer by
____________________ (the "Transferor") to _______________________ (the
"Transferee") of the Class ______________ Certificates (the "Transferred
Certificate") having an initial [principal balance] [notional amount] as of
December 21, 2006 (the "Closing Date") of $_____________ evidencing a __%
interest in the Classes to which they belong. The Certificates were issued
pursuant to a pooling and servicing agreement, dated as of December 1, 2006 (the
"Pooling and Servicing Agreement"), Wachovia Commercial Mortgage Securities,
Inc., as Depositor, Wachovia Bank, National Association, as Master Servicer, LNR
Partners, Inc., as Special Servicer and Wells Fargo Bank, N.A., as Trustee.
Capitalized terms used but not defined herein shall have the meanings set forth
in the Pooling and Servicing Agreement. The Transferee hereby certifies,
represents and warrants to you that:

            In the case of a Class F, Class G, Class H or Class J Certificate,
the Transferee either (A) is not an "employee benefit plan" subject to Title I
of ERISA or a "plan" described by Section 4975(e)(1) of the Code or any other
retirement plan or other employee benefit plan or arrangement subject to any
federal, state or local law materially similar to the foregoing provisions of
ERISA and the Code, or any entity deemed to hold plan assets of the foregoing by
reason of a plan's investment in such entity (each, a "Plan") or (B) (1)
qualifies as an accredited investor as defined in Rule 501(a)(1) of Regulation D
under the Securities Act and satisfies all the requirements of the Exemptions as
in effect at the time of such transfer or (2) is an insurance company general
account that is eligible for, and satisfies all of the requirements for,
Sections I and III of Department of Labor Prohibited Transaction Class Exemption
95-60 ("PTE 95-60").

            In the case of a Class K, Class L, Class M, Class N, Class O, Class
P or Class Q Certificate, the Transferee either (A) is not an "employee benefit
plan" subject to Title I of ERISA or a "plan" described by Section 4975(e)(1) of
the Code, or any other retirement plan or other employee benefit plan or
arrangement subject to any federal, state or local law materially similar to the
foregoing provisions of ERISA and the Code, or any entity deemed to hold plan
assets of the foregoing by reason of a plan's investment in such entity (each, a
"Plan") or (B) is an insurance company general account which is eligible for,
and satisfies all of the requirements for, exemptive relief under Sections I and
III of Department of Labor Prohibited Transaction Class Exemption 95-60 ("PTE
95-60").

            In the case of a Class R-I, Class R-II, or Class Z Certificate, the
Transferee is not an "employee benefit plan" subject to Title I of ERISA or a
"plan" described by Section 4975(e)(1) of the Code or any other retirement plan
or other employee benefit plan or arrangement subject to any federal, state or
local law materially similar to the foregoing provisions of ERISA and the Code,
or any entity deemed to hold plan assets of the foregoing by reason of a plan's
investment in such entity (each, a "Plan").

            IN WITNESS WHEREOF, the undersigned has executed this certificate as
of the date first written above.

                                               _________________________________
                                                     [Name of Transferee]

                                               By: _____________________________
                                                   Name:________________________
                                                   Title:_______________________

<PAGE>

                                   EXHIBIT H-1

                    FORM OF TRANSFER AFFIDAVIT AND AGREEMENT
                        PURSUANT TO SECTION 5.02(d)(i)(B)

STATE OF [________________]  )
                             ) ss.:
COUNTY OF [________________] )

            [NAME OF OFFICER], being first duly sworn, deposes, and represents
and warrants:

            1. That he is a [Title of Officer] of [Name of Owner] (the "Owner"),
      a corporation duly organized and existing under the laws of the [State of
      ___________] [the United States], and the owner of the Wachovia Commercial
      Mortgage Securities, Inc., Commercial Mortgage Pass-Through Certificates,
      Series 2006-C29, Class [R-I] [R-II] evidencing a ___% Interest in the
      Class to which its belongs (the "Class [R-I] [R-II]"). Capitalized terms
      used but not defined herein have the meanings assigned to such terms in
      the pooling and servicing agreement, dated as of December 1, 2006 (the
      "Pooling and Servicing Agreement") among Wachovia Commercial Mortgage
      Securities, Inc., as Depositor, Wachovia Bank, National Association, as
      Master Servicer, LNR Partners, Inc., as Special Servicer, and Wells Fargo
      Bank, N.A., as Trustee.

            2. That the Owner (i) is and will be a "Permitted Transferee" as of
      ________, _______ and (ii) is acquiring the Class [R-I] [R-II]
      Certificates for its own account or for the account of another Owner from
      which it has received an affidavit in substantially the same form as this
      affidavit. A "Permitted Transferee" is any person other than a
      Disqualified Organization, a Plan, a Disqualified Non-United States
      Person, a partnership any partner of which, directly or indirectly (except
      through a U.S. corporation), is a Disqualified Non-United States Person or
      a United States Person with respect to whom income on the Class
      [R-I][R-II] Certificate is allocable to a foreign permanent establishment
      or fixed base, within the meaning of an applicable income tax treaty, of
      such Person or any other United States Person. For this purpose, a
      "Disqualified Organization" means any of the following: (i) the United
      States or a possession thereof, any State or any political subdivision
      thereof, or any agency or instrumentality of any of the foregoing (other
      than an instrumentality which is a corporation if all of its activities
      are subject to tax and, except for FHLMC, a majority of its board of
      directors is not selected by any such governmental unit), (ii) a foreign
      government, international organization, or any agency or instrumentality
      of either of the foregoing, (iii) any organization (except certain
      farmers' cooperatives described in Section 521 of the Internal Revenue
      Code of 1986, as amended (the "Code")) which is exempt from the tax
      imposed by Chapter 1 of the Code (unless such organization is subject to
      the tax imposed by Section 511 of the Code on unrelated business taxable
      income), (iv) rural electric and telephone cooperatives described in
      Section 1381 of the Code or (v) any other Person so designated by the
      Paying Agent or the Certificate Registrar based upon an Opinion of Counsel
      that the holding of an Ownership Interest in a Class [R-I] [R-II]
      Certificate by such Person may cause the Trust Fund or any Person having
      an Ownership Interest in any Class of Certificates, other than such
      Person, to incur a liability for any federal tax imposed under the Code
      that would not otherwise be imposed but for the Transfer of an Ownership
      Interest in a Class [R-I] [R-II] Certificate to such Person. The terms
      "United States", "State" and "international organization" shall have the
      meanings set forth in Section 7701 of the Code or successor provisions.

            3. A "Disqualified Non-United States Person" is any Person (i) who
      is not a United States Person and who holds the Class[R-I] [R-II]
      Certificate in connection with the conduct of a trade or business within
      the United States and has furnished the transferor and the Certificate
      Registrar with an effective IRS Form W-8ECI (or successor form) or that
      has delivered to both the transferor and the Certificate Registrar an
      opinion of a nationally recognized tax counsel to the effect that the
      transfer of the Class [R-I] [R-II] Certificate to it is in accordance with
      the requirements of the Code and the regulations promulgated thereunder
      and that such transfer of the Class [R-I] [R-II] Certificate will not be
      disregarded for federal income tax purposes or (ii) who is a United States
      Person with respect to whom income on the Class [R-I] [R-II] Certificate
      is allocable to a foreign permanent establishment or fixed base (within
      the meaning of an applicable income tax treaty) of such Person or any
      other United States Person. A "United States Person" is a citizen or
      resident of the United States, a corporation or partnership (including an
      entity treated as a corporation or partnership for federal income tax
      purposes) created or organized in, or under the laws of the United States,
      any State thereof or the District of Columbia unless, in the case of a
      partnership, Treasury Regulations are adopted that provide otherwise, an
      estate whose income is includable in gross income for United States
      federal income tax purposes regardless of its source, or a trust if a
      court within the United States is able to exercise primary supervision
      over the administration of the trust and one or more United States Persons
      have the authority to control all substantial decisions of the trust, all
      within the meaning of Section 7701(a)(30) of the Code.

            4. That the Owner is aware (i) of the tax that would be imposed on
      transfers of the Class [R-I] [R-II] Certificates to Disqualified
      Organizations under the Code that applies to all transfers of the Class
      [R-I] [R-II] Certificates after March 31, 1988; (ii) that such tax would
      be on the transferor, or, if such transfer is through an agent (which
      person includes a broker, nominee or middleman) for a Disqualified
      Organization Transferee, on the agent; (iii) that the person otherwise
      liable for the tax shall be relieved of liability for the tax if the
      transferee furnishes to such person an affidavit that the transferee is
      not a Disqualified Organization and, at the time of transfer, such person
      does not have actual knowledge that the affidavit is false; and (iv) that
      the Class [R-I] [R-II] Certificates may be "non-economic residual
      interests" within the meaning of Treasury regulation section
      1.860E-1(c)(2) and that the transferor of a "non-economic residual
      interest" will remain liable for any taxes due with respect to the income
      on such residual interest, unless no significant purpose of the transfer
      is to enable the transferor to impede the assessment or collection of tax.

            5. That the Owner is aware of the tax imposed on a "pass-through
      entity" holding the Class [R-I] [R-II] Certificates if at any time during
      the taxable year of the pass-through entity a non-Permitted Transferee is
      the record holder of an interest in such entity. For this purpose, a "pass
      through entity" includes a regulated investment company, a real estate
      investment trust or common trust fund, a partnership, trust or estate, and
      certain cooperatives.

            6. That the Owner is aware that the Certificate Registrar will not
      register the transfer of any Class [R-I] [R-II] Certificate unless the
      transferee, or the transferee's agent, delivers to the Trustee, among
      other things, an affidavit in substantially the same form as this
      affidavit. The Owner expressly agrees that it will not consummate any such
      transfer if it knows or believes that any of the representations contained
      in such affidavit and agreement are false.

            7. That the Owner consents to any additional restrictions or
      arrangements that shall be deemed necessary upon advice of counsel to
      constitute a reasonable arrangement to ensure that the Class [R-I] [R-II]
      Certificates will only be owned, directly or indirectly, by Permitted
      Transferees.

            8. That the Owner's taxpayer identification number is _____________.

            9. That the Owner has reviewed the restrictions set forth on the
      face of the Class [R-I] [R-II] Certificates and the provisions of Section
      5.02 of the Pooling and Servicing Agreement under which the Class [R-I]
      [R-II] Certificates were issued (and, in particular, the Owner is aware
      that such Section authorizes the Paying Agent to deliver payments to a
      person other than the Owner and negotiate a mandatory sale by the Paying
      Agent in the event that the Owner holds such Certificate in violation of
      Section 5.02); and that the Owner expressly agrees to be bound by and to
      comply with such restrictions and provisions.

            10. That the Owner is not acquiring and will not transfer the Class
      [R-I] [R-II] Certificates in order to impede the assessment or collection
      of any tax.

            11. That the Owner has historically paid its debts as they have come
      due, intends to continue to pay its debts as they come due in the future,
      and anticipates that it will, so long as it holds any of the Class [R-I]
      [R-II] Certificates, have sufficient assets to pay any taxes owed by the
      holder of such Class [R-I] [R-II] Certificates.

            12. That the Owner has no present knowledge that it may become
      insolvent or subject to a bankruptcy proceeding for so long as it holds
      any of the Class [R-I] [R-II] Certificates.

            13. That the Owner has no present knowledge or expectation that it
      will be unable to pay any United States taxes owed by it so long as any of
      the Certificates remain outstanding. In this regard, the Owner hereby
      represents to and for the benefit of the Person from whom it acquired the
      Class [R-I] [R-II] Certificates that the Owner intends to pay taxes
      associated with holding the Class [R-I] [R-II] Certificates as they become
      due, fully understanding that it may incur tax liabilities in excess of
      any cash flows generated by the Class [R-I] [R-II] Certificates.

            14. That the Owner is not acquiring the Class [R-I] [R-II]
      Certificates with the intent to transfer any of the Class [R-I] [R-II]
      Certificates to any person or entity that will not have sufficient assets
      to pay any taxes owed by the holder of such Class [R-I] [R-II]
      Certificates, or that may become insolvent or subject to a bankruptcy
      proceeding, for so long as the Class [R-I] [R-II] Certificates remain
      outstanding.

            15. That the Owner will, in connection with any transfer that it
      makes of the Class [R-I] [R-II] Certificates, obtain from its transferee
      the representations required by Section 5.02(d) of the Pooling and
      Servicing Agreement under which the Class [R-I] [R-II] Certificates were
      issued and will not consummate any such transfer if it knows, or knows
      facts that should lead it to believe, that any such representations are
      false.

            16. That the Owner will, in connection with any transfer that it
      makes of any Class [R-I] [R-II] Certificate, deliver to the Certificate
      Registrar an affidavit, which represents and warrants that it is not
      transferring such Class [R-I] [R-II] Certificate to impede the assessment
      or collection of any tax and that it has no actual knowledge that the
      proposed transferee: (i) has insufficient assets to pay any taxes owed by
      such transferee as holder of such Class [R-I] [R-II] Certificate; (ii) may
      become insolvent or subject to a bankruptcy proceeding, for so long as the
      Class [R-I] [R-II] Certificates remain outstanding; and (iii) is not a
      "Permitted Transferee".

            17. Check the applicable paragraph:

           [ ]    The present value of the anticipated tax liabilities
                  associated with holding the [R-I] [R-II] Certificate, as
                  applicable, does not exceed the sum of:

            (i)   the present value of any consideration given to the Owner to
                  acquire such [R-I] [R-II] Certificate;

            (ii)  the present value of the expected future distributions on such
                  [R-I] [R-II] Certificate; and

            (iii) the present value of the anticipated tax savings associated
                  with holding such [R-I] [R-II] Certificate as the related
                  REMIC generates losses.

            For purposes of this calculation, (i) the Owner is assumed to pay
tax at the highest rate currently specified in Section 11(b) of the Code (but
the tax rate in Section 55(b)(1)(B) of the Code may be used in lieu of the
highest rate specified in Section 11(b) of the Code if the Owner has been
subject to the alternative minimum tax under Section 55 of the Code in the
preceding two years and will compute its taxable income in the current taxable
year using the alternative minimum tax rate) and (ii) present values are
computed using a discount rate equal to the short-term Federal rate prescribed
by Section 1274(d) of the Code for the month of the transfer and the compounding
period used by the Owner.

          [ ]     The transfer of the [R-I] [R-II] Certificate complies with
                  U.S. Treasury Regulations Sections 1.860E-1(c)(5) and (6) and,
                  accordingly,

            (i)   the Owner is an "eligible corporation," as defined in U.S.
                  Treasury Regulations Section 1.860E-1(c)(6)(i), as to which
                  income from the [R-I] [R-II] Certificate will only be taxed in
                  the United States;

            (ii)  at the time of the transfer, and at the close of the Owner's
                  two fiscal years preceding the year of the transfer, the Owner
                  had gross assets for financial reporting purposes (excluding
                  any obligation of a person related to the Owner within the
                  meaning of U.S. Treasury Regulations Section
                  1.860E-1(c)(6)(ii)) in excess of $100 million and net assets
                  in excess of $10 million;

            (iii) the Owner will transfer the [R-I] [R-II] Certificate only to
                  another "eligible corporation," as defined in U.S. Treasury
                  Regulations Section 1.860E-1(c)(6)(i), in a transaction that
                  satisfies the requirements of Sections 1.860E-1(c)(4)(i), (ii)
                  and (iii) and Section 1.860E-1(c)(5) of the U.S. Treasury
                  Regulations; and

            (iv)  the Owner determined the consideration paid to it to acquire
                  the [R-I] [R-II] Certificate based on reasonable market
                  assumptions (including, but not limited to, borrowing and
                  investment rates, prepayment and loss assumptions, expense and
                  reinvestment assumptions, tax rates and other factors specific
                  to the Owner) that it has determined in good faith.

             [ ]  None of the above.

<PAGE>

            IN WITNESS WHEREOF, the Owner has caused this instrument to be
executed on its behalf, by its [Title of Officer] and Authorized Signatory,
attested by its Assistant Secretary, this ____ day of _____, ___.

                                               [NAME OF OWNER]

                                               By: _____________________________
                                                   [Name of Officer]
                                                   [Title of Officer]

_______________________________________________
             [Assistant] Secretary

            Personally appeared before me the above-named [Name of Officer],
known or proved to me to be the same person who executed the foregoing
instrument and to be [Title of Officer], and acknowledged to me that he executed
the same as his free act and deed and the free act and deed of the Owner.

            Subscribed and sworn before me this ____ day of _____, _____.

                                               _________________________________
                                                                NOTARY PUBLIC

                                               COUNTY OF _______________________
                                               STATE OF ________________________

                                               My Commission expires the
                                                  ____ day of ___________, ____.

<PAGE>

                                   EXHIBIT H-2

                         FORM OF TRANSFEROR CERTIFICATE
                        PURSUANT TO SECTION 5.02(d)(i)(D)

                                                                          [Date]

Wells Fargo Bank, N.A.
Wells Fargo Center
Sixth Street and Marquette Avenue
Minneapolis, Minnesota 55479-0113
Attn:   Corporate Trust Services - Wachovia Bank
        Commercial Mortgage Trust, Commercial Mortgage Pass-Through
        Certificates, Series 2006-C29

        Re:   Wachovia Bank Commercial Mortgage Trust, Commercial Mortgage
              Pass-Through Certificates, Series 2006-C29, Class [R-I]
              [R-II], evidencing a ____% percentage interest in the Class to
              which they belong

Dear Sirs:

        This letter is delivered to you in connection with the transfer by
_________ (the "Transferor") to ______________________ (the "Transferee") of the
captioned Class [R-I] [R-II] Certificates (the "Class [R-I] [R-II]
Certificates"), pursuant to Section 5.02 of the pooling and servicing agreement
(the "Pooling and Servicing Agreement"), dated as of December 1, 2006, among
Wachovia Commercial Mortgage Securities, Inc., as Depositor, Wachovia Bank,
National Association, as Master Servicer, LNR Partners, Inc., as Special
Servicer, and Wells Fargo Bank, N.A., as Trustee. All terms used herein and not
otherwise defined shall have the meanings set forth in the Pooling and Servicing
Agreement. The Transferor hereby represents and warrants to you, as Certificate
Registrar, that:

            1. No purpose of the Transferor relating to the transfer of the
      Class [R-I] [R-II] Certificates by the Transferor to the Transferee is or
      will be to impede the assessment or collection of any tax.

            2. The Transferor understands that the Transferee has delivered to
      you a Transfer Affidavit and Agreement in the form attached to the Pooling
      and Servicing Agreement as Exhibit H-1. The Transferor does not know or
      believe that any representation contained therein is false.

            3. The Transferor at the time of this transfer has conducted a
      reasonable investigation of the financial condition of the Transferee as
      contemplated by Treasury regulation section 1.860E-1(c)(4)(i) and, as a
      result of that investigation, the Transferor has determined that the
      Transferee has historically paid its debts as they became due and has
      found no significant evidence to indicate that the Transferee will not
      continue to pay its debts as they become due in the future.

            4. The Transferor understands that the transfer of the Class [R-I]
      [R-II] Certificates may not be respected for United States income tax
      purposes (and the Transferor may continue to be liable for United States
      income taxes associated therewith) unless the test described above in
      Paragraph 3 has been met as to any transfer.

                                               Very truly yours,

                                               By: _____________________________
                                                   Name:________________________
                                                   Title:_______________________

<PAGE>

                                   EXHIBIT I-1

                        FORM OF NOTICE AND ACKNOWLEDGMENT

                                                                          [Date]

Standard & Poor's Ratings Services,
a division of The McGraw-Hill Companies, Inc.
56 Water Street
New York, New York  10041-0003
Attention:  CMBS Surveillance Group

Moody's Investors Service, Inc.
99 Church Street
New York, New York  10007
Attention:  Commercial Mortgage Surveillance

Ladies and Gentlemen:

            This notice is being delivered pursuant to Section 6.09 of the
pooling and servicing agreement, dated as of December 1, 2006 (the "Pooling and
Servicing Agreement") relating to Wachovia Commercial Mortgage Trust, Commercial
Mortgage Pass-Through Certificates, Series 2006-C29. Any term with initial
capital letters not otherwise defined in this notice has the meaning given such
term in the Pooling and Servicing Agreement.

            Notice is hereby given that the Holders of Certificates evidencing a
majority of the Voting Rights allocated to the Controlling Class have designated
___________________ to serve as the Special Servicer under the Pooling and
Servicing Agreement.

            The designation of ____________________ as Special Servicer will
become final if certain conditions are met and on the date you will deliver to
Wells Fargo Bank, N.A., the trustee under the Pooling and Servicing Agreement
(the "Trustee"), a written confirmation stating that the appointment of the
person designated to become the Special Servicer will not result in the
qualification, downgrading or withdrawal of the rating or ratings assigned to
one or more Classes of the Certificates.

<PAGE>

Please acknowledge receipt of this notice by signing the enclosed copy of this
notice where indicated below and returning it to the Trustee, in the enclosed
stamped self-addressed envelope.

                                               Very truly yours,

                                               WELLS FARGO BANK, N.A.

                                               By: _____________________________
                                                   Name:
                                                   Title:

Receipt and acknowledged:

Standard & Poor's Ratings Services, a division   Moody's Investors Service, Inc.
    of The McGraw-Hill Companies, Inc.

  By:_________________________________________       By:________________________
  Title:______________________________________       Title:_____________________
  Date:_______________________________________       Date:______________________

<PAGE>

                                   EXHIBIT I-2

               FORM OF ACKNOWLEDGMENT OF PROPOSED SPECIAL SERVICER

                                                                          [Date]

Wells Fargo Bank, N.A.
9062 Old Annapolis Road
Columbia, Maryland  21045-1951
Attn:   Corporate Trust Services - Wachovia Bank Commercial Mortgage Trust,
        Commercial Mortgage Pass-Through    Certificates, Series 2006-C29

Ladies & Gentlemen:

               Pursuant to Section 6.09 of the pooling and servicing agreement,
dated as of December 1, 2006 (the "Pooling and Servicing Agreement"), relating
to Wachovia Bank Commercial Mortgage Trust, Commercial Mortgage Pass-Through
Certificates, Series 2006-C29, the undersigned hereby agrees with all the other
parties to the Pooling and Servicing Agreement that the undersigned shall serve
as Special Servicer under, and as defined in, the Pooling and Servicing
Agreement. The undersigned hereby acknowledges that, as of the date hereof, it
is and shall be a party to the Pooling and Servicing Agreement and bound thereby
to the full extent indicated therein in the capacity of Special Servicer. The
undersigned hereby makes, as of the date hereof, the representations and
warranties set forth in Section 3.23(b)(ii)-(ix) of the Pooling and Servicing
Agreement as if it were the Special Servicer thereunder. The undersigned
additionally represents that, as of the date hereof, it has been duly organized
and is validly existing under the laws of the jurisdiction of its organization
and that it is in compliance with the laws of each state in which a Mortgaged
Property (as defined in the Pooling and Servicing Agreement) is located to the
extent necessary to perform its obligations under the Pooling and Servicing
Agreement.

                                               _________________________________

                                               By: _____________________________
                                                   Name:________________________
                                                   Title:_______________________

<PAGE>

                                    EXHIBIT J

                                   [RESERVED]

<PAGE>

                                   EXHIBIT K-1

               FORM OF CERTIFICATEHOLDER CONFIRMATION CERTIFICATE
                          REQUEST BY BENEFICIAL HOLDER

                                                                          [Date]

Wells Fargo Bank, N.A.
9062 Old Annapolis Road
Columbia, Maryland  21045-1951
Attn:   Corporate Trust Services - Wachovia Bank
        Commercial Mortgage Trust, Commercial Mortgage Pass-Through
        Certificates, Series 2006-C29

Wachovia Bank, National Association
8739 Research Drive - URP4
Charlotte, North Carolina 28288
Attention:     Wachovia Bank Commercial Mortgage Trust, Commercial Mortgage
               Pass-Through Certificates, Series 2006-C29

LNR Partners, Inc.
1601 Washington Avenue, Suite 800
Miami Beach, Florida 33139
Attn:   Randy Wolpert

            Re:   Wachovia Bank Commercial Mortgage Trust, Commercial Mortgage
                  Pass-Through Certificates, Series 2006-C29

            In accordance with Section 3.15 of the pooling and servicing
agreement(the "Pooling and Servicing Agreement"), dated as of December 1, 2006,
by and among Wachovia Commercial Mortgage Securities, Inc., as depositor (the
"Depositor"), Wachovia Bank, National Association, as master servicer (in such
capacity, the "Master Servicer"), LNR Partners, Inc., as special servicer (the
"Special Servicer"), and Wells Fargo Bank, N.A., as trustee (the "Trustee"),
with respect to the Wachovia Bank Commercial Mortgage Trust, Commercial Mortgage
Pass-Through Certificates, Series 2006-C29 (the "Certificates"), the undersigned
hereby certifies and agrees as follows:

            1. The undersigned is a beneficial owner of the Class ____
      Certificates.

            2. The undersigned is requesting access to the information posted to
      the Trustee's Internet Website pursuant to Section 4.02 of the Pooling and
      Servicing Agreement, or the information identified on the schedule
      attached hereto pursuant to Section 3.15 of the Pooling and Servicing
      Agreement (the "Information").

            3. In consideration of the [Trustee's] [Master Servicer's] [Special
      Servicer's] disclosure to the undersigned of the Information, the
      undersigned will keep the Information confidential (except from its agents
      and auditors), and such Information will not, without the prior written
      consent of the [Trustee] [Master Servicer] [Special Servicer], be
      disclosed by the undersigned or by its officers, directors, partners,
      employees, agents or representatives (collectively, the "Representatives")
      in any manner whatsoever, in whole or in part; provided that the
      undersigned may provide all or any part of the Information to any other
      person or entity that holds or is contemplating the purchase of any
      Certificate or interest therein, but only if such person or entity
      confirms in writing such ownership interest or prospective ownership
      interest and agrees to keep it confidential.

            4. The undersigned will not use or disclose the Information in any
      manner which could result in a violation of any provision of the
      Securities Act of 1933, as amended, (the "Securities Act"), or the
      Securities Exchange Act of 1934, as amended, or would require registration
      of any Certificate pursuant to Section 5 of the Securities Act.

            5. The undersigned shall be fully liable for any breach of this
      agreement by itself or any of its Representatives and shall indemnify the
      Depositor, the Trustee, the Master Servicer, the Special Servicer and the
      Trust Fund for any loss, liability or expense incurred thereby with
      respect to any such breach by the undersigned or any of its
      Representatives.

            IN WITNESS WHEREOF, the undersigned has caused its name to be signed
hereto by its duly authorized officer, as of the day and year written above.

                                               _________________________________
                                                    BENEFICIAL HOLDER OF A
                                                          CERTIFICATE

                                           By: _________________________________
                                         Name:__________________________________
                                        Title:__________________________________
                                        Phone:__________________________________

<PAGE>

                                   EXHIBIT K-2

                    FORM OF PROSPECTIVE PURCHASER CERTIFICATE

                                                                          [Date]

Wells Fargo Bank, N.A.
9062 Old Annapolis Road
Columbia, Maryland  21045-1951
Attn:   Corporate Trust Services - Wachovia Bank
        Commercial Mortgage Trust, Commercial Mortgage Pass-Through
        Certificates, Series 2006-C29

Wachovia Bank, National Association
NC1075
8739 Research Drive - URP4
Charlotte, North Carolina  28262-1075
Attn: Wachovia Bank Commercial Mortgage Trust, Commercial Mortgage Pass-Through
      Certificates, Series 2006-C29

LNR Partners, Inc.
1601 Washington Avenue, Suite 800
Miami Beach, Florida 33139
Attention:  Randy Wolpert

      Re:   Wachovia Bank Commercial Mortgage Trust, Commercial Mortgage
            Pass-Through Certificates, Series 2006-C29 (the "Certificates")

            In accordance with Section 3.15 of the pooling and servicing
agreement(the "Pooling and Servicing Agreement"), dated as of December 1, 2006,
among Wachovia Commercial Mortgage Securities, Inc., as depositor (the
"Depositor"), Wachovia Bank, National Association, as master servicer (in such
capacity, the "Master Servicer"), LNR Partners, Inc., as special servicer (the
"Special Servicer"), and Wells Fargo Bank, N.A., as trustee (the "Trustee"),
with respect to the Wachovia Bank Commercial Mortgage Trust, Commercial Mortgage
Pass-Through Certificates, Series 2006-C29 (the "Certificates"), the undersigned
hereby certifies and agrees as follows:

            1. The undersigned is contemplating an investment in the Class __
      Certificates.

            2. The undersigned is requesting access to the information posted to
      the Trustee's Internet Website pursuant to Section 4.02 of the Pooling and
      Servicing Agreement, or the information identified on the schedule
      attached hereto pursuant to Section 3.15 of the Pooling and Servicing
      Agreement (the "Information") for use in evaluating such possible
      investment.

            3. In consideration of the [Trustee's] [Master Servicer's] [Special
      Servicer's] disclosure to the undersigned of the Information, the
      undersigned will keep the Information confidential (except from its agents
      and auditors), and such Information will not, without the prior written
      consent of the [Trustee] [Master Servicer] [Special Servicer], be
      disclosed by the undersigned or by its officers, directors, partners
      employees, agents or representatives (collectively, the "Representatives")
      in any manner whatsoever, in whole or in part.

            4. The undersigned will not use or disclose the Information in any
      manner which could result in a violation of any provision of the
      Securities Act of 1933, as amended (the "Securities Act"), or the
      Securities Exchange Act of 1934, as amended, or would require registration
      of any Certificate pursuant to Section 5 of the Securities Act.

            5. The undersigned shall be fully liable for any breach of this
      agreement by itself or any of its Representatives and shall indemnify the
      Depositor, the Trustee, the Master Servicer, the Special Servicer and the
      Trust Fund for any loss, liability or expense incurred thereby with
      respect to any such breach by the undersigned or any of its
      Representatives.

               IN WITNESS WHEREOF, the undersigned has caused its name to be
signed hereto by its duly authorized officer, as of the day and year written
above.

                                               _________________________________
                                                     [PROSPECTIVE PURCHASER]

                                               By: _____________________________
                                                   Name:________________________
                                                   Title:_______________________
                                                   Phone:_______________________

<PAGE>

                                    EXHIBIT L

                            INITIAL COMPANION HOLDERS

Name: Wachovia Bank, National Association, with respect to the Galleria at Tyler
Subordinate Companion Loan

            Address: 301 South College Street, One Wachovia Center NC0166,
Charlotte, North Carolina 28288

            Wiring Instructions:

            Tax Identification Number:

Name: The trust fund created under the 2006-C28 Pooling and Servicing Agreement,
with respect to the Newport Bluffs Pari Passu Companion Loan

            Address: Wells Fargo Bank, N.A., 9062 Old Annapolis Road, Columbia,
Maryland 21045-1951, Attn: Corporate Trust Services - Wachovia Bank, Commercial
Mortgage Trust, Commercial Mortgage Pass-Through Certificates, Series 2006-C28

            Wiring Instructions:

            Tax Identification Number:

Name: Wachovia Bank, National Association, with respect to the Renaissance Tower
Office Building Subordinate Companion Loan

            Address: 301 South College Street, One Wachovia Center NC0166,
Charlotte, North Carolina 28288

            Wiring Instructions:

            Tax Identification Number:

Name: CBA-Mezzanine Capital Finance, LLC, with respect to the Dakota Square Mall
Subordinate Companion Loan

            Address: 51 JFK Parkway, Fourth Floor East, Short Hills, New Jersey
07078

            Wiring Instructions:

            Tax Identification Number:

Name: Caplease Debt Funding, LP, with respect to each of the Aetna
Building-Fresno, CA Subordinate Companion Loans

            Address: 110 Maiden Lane, 36th Floor, New York, New York 10005

            Wiring Instructions:

            Tax Identification Number:

Name: Caplease Debt Funding, LP, with respect to each of the FBI-Albany, NY
Subordinate Companion Loans

            Address: 110 Maiden Lane, 36th Floor, New York, New York 10005

            Wiring Instructions:

            Tax Identification Number:

<PAGE>

                                    EXHIBIT M

                         FORM OF PURCHASE OPTION NOTICE
                            PURSUANT TO SECTION 3.18
                            ------------------------

                                     [Date]

Wells Fargo Bank, N.A.
9062 Old Annapolis Road
Columbia, Maryland  21045-1951
Attn:   Corporate Trust Services - Wachovia Bank
        Commercial Mortgage Trust, Commercial Mortgage Pass-Through
        Certificates, Series 2006-C29

Wachovia Bank, National Association
NC 1075
8739 Research Drive URP4
Charlotte, North Carolina  28262-1075
Attn: Wachovia Bank Commercial Mortgage Trust, Commercial Mortgage Pass-Through
Certificates, Series 2006-C29

      Re:   Wachovia Bank Commercial Mortgage Trust, Commercial Mortgage
            Pass-Through Certificates, Series 2006-C29

Ladies and Gentlemen:

            The undersigned hereby acknowledges that it is the holder of an
assignable option (the "Purchase Option") to purchase Mortgage Loan number ____
from the Trust Fund, pursuant to Section 3.18 of the pooling and servicing
agreement (the "Pooling and Servicing Agreement"), dated as of December 1, 2006,
by and among Wachovia Commercial Mortgage Securities, Inc., as Depositor, Wells
Fargo Bank, N.A., as Trustee, LNR Partners, Inc., as Special Servicer, and
Wachovia Bank, National Association, as Master Servicer. Capitalized terms used
herein and not otherwise defined shall have the meaning set forth in the Pooling
and Servicing Agreement.

            The undersigned Option Holder [is the Special Servicer] [is the
Majority Subordinate Certificateholder] [acquired its Purchase Option from the
[Special Servicer] [Majority Subordinate Certificateholder] on _________].

            The undersigned Option Holder is exercising its Purchase Option at
the cash price of $______________, which amount equals or exceeds the Option
Price, as defined in Section 3.18(c) of the Pooling and Servicing Agreement.
Within ten (10) Business Days of the date hereof, [the undersigned Option
Holder] [______________, an Affiliate of the undersigned Option Holder] will
deliver the Option Price to or at the direction of the Special Servicer in
exchange for the release of the Mortgage Loan, the related Mortgaged Property
and delivery of the related Mortgage Loan File.

            The undersigned Option Holder agrees that it shall prepare and
provide the Special Servicer with such instruments of transfer or assignment, in
each case without recourse, as shall be reasonably necessary to vest in it or
its designee the ownership of Mortgage Loan ____, together with such other
documents or instruments as the Special Servicer shall reasonably require to
consummate the purchase contemplated hereby.

            The undersigned Option Holder acknowledges and agrees that its
exercise of its Purchase Option Notice may not be revoked and that the
undersigned Option Holder, or its designee, shall be obligated to close its
purchase of Mortgage Loan ___ in accordance with the terms and conditions of
this letter and Section 3.18 of the Pooling and Servicing Agreement.

                                               Very truly yours,

                                               [Option Holder]

                                               By: _____________________________
                                                   Name:
                                                   Title:

            [By signing this letter in the space provided below, the [Special
Servicer] [Majority Subordinate Certificateholder] hereby acknowledges and
affirms that it transferred its Purchase Option to the Option Holder identified
above on [_________].

[___________________________________]
By:
Name:
Title:

<PAGE>

                                    EXHIBIT N

                                     FORM OF
                            NOTICE AND CERTIFICATION
                      REGARDING DEFEASANCE OF MORTGAGE LOAN

To:   Standard & Poor's Ratings Services,
      a division of The McGraw-Hill Companies, Inc.
      56 Water Street
      New York, New York  10041-0003
      Attn:  CMBS Surveillance Group

From: Wachovia Bank, National Association, in its capacity as Master Servicer
      (the "Master Servicer") under the pooling and servicing agreement dated as
      of December 1, 2006 (the "Pooling and Servicing Agreement"), among the
      Master Servicer, Wells Fargo Bank, N.A., as Trustee and others.

Date:____________, 20___

        Re:    Wachovia Bank Commercial Mortgage Trust,
               Commercial Mortgage Pass-Through Certificates
               Series 2006-C29

            Mortgage Loan (the "Mortgage Loan") identified by loan number _____
on the Mortgage Loan Schedule attached to the Pooling and Servicing Agreement
and heretofore secured by the Mortgaged Properties identified on the Mortgage
Loan Schedule by the following names:

               ____________________

               ____________________

            Reference is made to the Pooling and Servicing Agreement described
above. Capitalized terms used but not defined herein have the meanings assigned
to such terms in the Pooling and Servicing Agreement.

               As Master Servicer under the Pooling and Servicing Agreement, we
hereby:

            (a) Notify you that the Mortgagor has consummated a defeasance of
the Mortgage Loan pursuant to the terms of the Mortgage Loan, of the type
checked below:

            ______ a full defeasance of the entire principal balance of the
Mortgage Loan; or

            ______ a partial defeasance of a portion of the principal balance of
the Mortgage Loan that represents and, an allocated loan amount of $____________
or _______% of the entire principal balance of the Mortgage Loan;

            (b) Certify that each of the following is true, subject to those
exceptions set forth with explanatory notes on Exhibit A hereto, which
exceptions the Master Servicer has determined, consistent with the Servicing
Standard, will have no material adverse effect on the Mortgage Loan or the
defeasance transaction:

        (i)    The Mortgage Loan documents permit the defeasance, and the terms
               and conditions for defeasance specified therein were satisfied in
               all material respects in completing the defeasance.

        (ii)   The defeasance was consummated on __________, 20__.

        (iii)  The defeasance collateral consists of securities that (i)
               constitute "government securities" as defined in Section 2(a)(16)
               of the Investment Company Act of 1940 as amended (15 U.S.C.
               80A1), (ii) are listed as "Qualified Investments for `AAA'
               Financings" under Paragraphs 1, 2 or 3 of "Cash Flow Approach" in
               Standard & Poor's Public Finance Criteria 2000, as amended to the
               date of the defeasance, (iii) are rated `AAA' by S&P, (iv) if
               they include a principal obligation, the principal due at
               maturity cannot vary or change, and (v) are not subject to
               prepayment, call or early redemption.

        (iv)   The Master Servicer received an opinion of counsel (from counsel
               approved by Master Servicer in accordance with the Servicing
               Standard) that the defeasance will not result in an Adverse REMIC
               Event.

        (v)    The Master Servicer determined that the defeasance collateral
               will be owned by an entity (the "Defeasance Obligor") that is a
               Single-Purpose Entity (as defined in Standard & Poor's Structured
               Finance Ratings Real Estate Finance Criteria, as amended to the
               date of the defeasance (the "S&P Criteria")) as of the date of
               the defeasance, and after the defeasance owns no assets other
               than the defeasance collateral and real property securing
               Mortgage Loans included in the pool.

        (vi)   The Master Servicer received written confirmation of the
               crediting of the defeasance collateral to an Eligible Account (as
               defined in the S&P Criteria) in the name of the Defeasance
               Obligor, which account is maintained as a securities account by a
               securities intermediary and has been pledged to the Trustee.

        (vii)  The agreements executed in connection with the defeasance (i)
               grant control of the pledged securities account to the Trustee,
               (ii) require the securities intermediary to make the scheduled
               payments on the Mortgage Loan from the proceeds of the defeasance
               collateral directly to the Servicer's collection account in the
               amounts and on the dates specified in the Mortgage Loan documents
               or, in a partial defeasance, the portion of such scheduled
               payments attributed to the allocated loan amount for the real
               property defeased, increased by any defeasance premium specified
               in the Mortgage Loan documents (the "Scheduled Payments"), (iii)
               permit reinvestment of proceeds of the defeasance collateral only
               in Permitted Investments (as defined in the S&P Criteria), (iv)
               permit release of surplus defeasance collateral and earnings on
               reinvestment from the pledged securities account only after the
               Mortgage Loan has been paid in full, if any such release is
               permitted, (v) prohibit transfers by the Defeasance Obligor of
               the defeasance collateral and subordinate liens against the
               defeasance collateral, and (vi) provide for payment from sources
               other than the defeasance collateral or other assets of the
               Defeasance Obligor of all fees and expenses of the securities
               intermediary for administering the defeasance and the securities
               account and all fees and expenses of maintaining the existence of
               the Defeasance Obligor.

        (viii) The Master Servicer received written confirmation from a firm of
               independent certified public accountants, who were approved by
               Master Servicer in accordance with the Servicing Standard stating
               that (i) revenues from the defeasance collateral (without taking
               into account any earnings on reinvestment of such revenues) will
               be sufficient to timely pay each of the Scheduled Payments after
               the defeasance including the payment in full of the Mortgage Loan
               (or the allocated portion thereof in connection with a partial
               defeasance) on its Maturity Date (or, in the case of an ARD Loan,
               on its Anticipated Repayment Date), (ii) the revenues received in
               any month from the defeasance collateral will be applied to make
               Scheduled Payments within four (4) months after the date of
               receipt, and (iii) interest income from the defeasance collateral
               to the Defeasance Obligor in any calendar or fiscal year will not
               exceed such Defeasance Obligor's interest expense for the
               Mortgage Loan (or the allocated portion thereof in a partial
               defeasance) for such year.

        (ix)   The Mortgage Loan is not among the ten (10) largest loans in the
               pool. The entire principal balance of the Mortgage Loan as of the
               date of defeasance was less than both $[______] and five percent
               of the pool balance, which is less than [__]% of the aggregate
               Certificate Balance of the Certificates as of the date of the
               most recent Trustee's Distribution Date Statement received by us
               (the "Current Report").

        (x)    The defeasance described herein, together with all prior and
               simultaneous defeasances of Mortgage Loans, brings the total of
               all fully and partially defeased Mortgage Loans to
               $__________________, which is _____% of the aggregate Certificate
               Balance of the Certificates as of the date of the Current Report.

               (c)    Certify that Exhibit B hereto is a list of the material
agreements, instruments, organizational documents for the Defeasance Obligor,
and opinions of counsel and independent accountants executed and delivered in
connection with the defeasance.

               (d)    Certify that the individual under whose hand the Master
Servicer has caused this Notice and Certification to be executed did constitute
a Servicing Officer as of the date of the defeasance described above.

               (e)    Agree to provide copies of all items listed in Exhibit B
to you upon request.

                            [SIGNATURE PAGE FOLLOWS]

<PAGE>

               IN WITNESS WHEREOF, the Master Servicer has caused this Notice
and Certification to be executed as of the date captioned above.

                                          WACHOVIA BANK, NATIONAL ASSOCIATION

                                          By: __________________________________
                                              Name:
                                              Title:

<PAGE>

                                    EXHIBIT O

                      FORM OF DEPOSITOR CERTIFICATION TO BE
                             PROVIDED WITH FORM 10-K

                    Wachovia Bank Commercial Mortgage Trust,
                  Commercial Mortgage Pass-Through Certificates
                       Series 2006-C29 (the "Trust Fund")

            I, [identify the certifying individual], a [title] of Wachovia
Commercial Mortgage Securities, Inc., the depositor into the above-referenced
Trust Fund, certify that:

            1. I have reviewed this annual report on Form 10-K, and all reports
      on Form 10-D required to be filed in respect of periods included in the
      year covered by this annual report, of the Trust Fund;

            2. Based on my knowledge, the Exchange Act periodic reports, taken
      as a whole, do not contain any untrue statement of a material fact or omit
      to state a material fact necessary to make the statements made, in light
      of the circumstances under which such statements were made, not misleading
      with respect to the period covered by this annual report;

            3. Based on my knowledge, all of the distribution, servicing and
      other information required to be provided on Form 10-D for the period
      covered by this report is included in the Exchange Act periodic reports;

            4. Based on my knowledge and the servicer compliance statements
      required in this report under Item 1123 of Regulation AB, and except as
      disclosed in the Exchange Act periodic reports, the servicers have
      fulfilled their obligations under the pooling and servicing agreement; and

            5. All of the reports on assessment of compliance with servicing
      criteria for asset-backed securities and their related attestation reports
      on assessment of compliance with servicing criteria for asset-backed
      securities required to be included in this report in accordance with Item
      1122 of Regulation AB and Exchange Act Rules 13a-18 and 15d-18 have been
      included as an exhibit to this report, except as otherwise disclosed in
      this report. Any material instances of noncompliance described in such
      reports have been disclosed in this report on Form 10-K.

<PAGE>

            In giving the certifications above, I have reasonably relied on
information provided to me by the following unaffiliated parties: LNR Partners,
Inc. and Wells Fargo Bank, N.A.

Date:________________________________________

_____________________________________________
President and Chief Executive Officer
Wachovia Commercial Mortgage Securities, Inc.

<PAGE>

                                    EXHIBIT P

                FORM OF CERTIFICATION TO BE PROVIDED TO DEPOSITOR
                                 BY THE TRUSTEE

                    Wachovia Bank Commercial Mortgage Trust,
                  Commercial Mortgage Pass-Through Certificates
                       Series 2006-C29 (the "Trust Fund")

            I, [identify the certifying individual], a [title] of Wells Fargo
Bank, N.A., certify to Wachovia Commercial Mortgage Securities, Inc. and their
officers, directors and affiliates, and with the knowledge and intent that they
will rely upon this certification in delivering the Certification required by
the pooling and servicing agreement relating to the Certificates (capitalized
terms used herein without definition shall have the meanings assigned to such
terms in the pooling and servicing agreement), that:

            1. I have reviewed this annual report on Form 10-K, and all reports
      on Form 10-D required to be filed in respect of the period included in the
      year covered by this annual report, of the Trust Fund;

            2. Based on my knowledge, the distribution information in these
      reports, taken as a whole, does not contain any untrue statement of a
      material fact or omit to state a material fact necessary to make the
      statements made, in light of the circumstances under which such statements
      were made, not misleading with respect to the period covered by this
      report;

            3. Based on my knowledge, the distribution and servicing information
      required to be provided to the trustee by the master servicer under the
      pooling and servicing agreement is included in the reports delivered by
      the master servicer to the trustee;

            4. I am responsible for reviewing the activities performed by the
      trustee and based on my knowledge and the compliance reviews conducted in
      preparing the trustee compliance statements required for inclusion on Form
      10-K pursuant to Item 1123 of Regulation AB, and except as disclosed on
      any Form 10-D or 10-K, the trustee has fulfilled its obligations in all
      material respects under the pooling and servicing agreement; and

            5. All of the reports on assessment of compliance with servicing
      criteria for asset-backed securities and their related attestation reports
      on assessment of compliance with servicing criteria for asset-backed
      securities with respect to the trustee required to be included in Form
      10-K in accordance with Item 1122 of Regulation AB and Exchange Act Rules
      13a-18 and 15d-18 have been included as an exhibit to Form 10-K, except as
      otherwise disclosed in Form 10-K. Any material instances of noncompliance
      described in such reports have been disclosed in such report on Form 10-K.

Date:_________________________________

______________________________________
[Title]
Wells Fargo Bank, N.A.

<PAGE>

                                   EXHIBIT Q-1

                   FORM OF MASTER SERVICER CERTIFICATION TO BE
                            PROVIDED TO THE DEPOSITOR
                            -------------------------

                    Wachovia Bank Commercial Mortgage Trust,
                  Commercial Mortgage Pass-Through Certificates
                       Series 2006-C29 (the "Trust Fund")

            I, [identify the certifying individual], a [title] of Wachovia Bank,
National Association, certify to Wachovia Commercial Mortgage Securities, Inc.
and their officers, directors and affiliates, and with the knowledge and intent
that they will rely upon this certification (capitalized terms used herein
without definition shall have the meanings assigned to such terms in the Pooling
and Servicing Agreement), that:

            1. I have reviewed the servicing reports relating to the Trust Fund
      delivered by the master servicer to the trustee pursuant to the Pooling
      and Servicing Agreement covering the fiscal year [_____];

            2. Based on my knowledge, (a) assuming the accuracy of the
      statements required to be made in the corresponding certificate of the
      special servicer pursuant to Section 8.17(n) of the Pooling and Servicing
      Agreement and (b) assuming that the information regarding the Mortgage
      Loans, the Mortgagors or the Mortgaged Properties in the Prospectus (the
      "Mortgage Information") does not contain any untrue statement of a
      material fact or omit to state a material fact necessary to make the
      statements made, in the light of the circumstances under which such
      statements were made, not misleading (but only to the extent that such
      Mortgage Information is or shall be used by the servicer to prepare the
      servicing reports, provided, however, the servicer shall provide any
      information of which the servicer has knowledge, to the extent such
      information updates the Mortgage Information and is required to be
      provided by the servicer pursuant to the Pooling and Servicing Agreement),
      the servicing information reports, taken as a whole, does not contain any
      untrue statement of a material fact or omit to state a material fact
      necessary to make the statements made, in light of the circumstances under
      which such statements were made, not misleading with respect to the period
      covered by this report;

            3. Based on my knowledge, and assuming the accuracy of the
      statements required to be made in the corresponding certificate of the
      special servicer pursuant to Section 8.17(n) of the Pooling and Servicing
      Agreement and assuming that the special servicer timely delivered to the
      master servicer all servicing information required to be provided to the
      master servicer by the special servicer under the Pooling and Servicing
      Agreement, the servicing information required to be provided to the
      trustee by the master servicer under the Pooling and Servicing Agreement
      is included in the servicing reports delivered by the master servicer to
      the trustee;

            4. I am responsible for reviewing the activities performed by the
      master servicer under the Pooling and Servicing Agreement and based upon
      my knowledge and the annual compliance reviews conducted in preparing the
      servicer compliance statements required in this report under Item 1123 of
      Regulation AB with respect to the master servicer, and except as disclosed
      in the compliance certificate delivered by the master servicer under
      Section 3.13 of the Pooling and Servicing Agreement, the master servicer
      has fulfilled its obligations under the Pooling and Servicing Agreement in
      all material respects;

            5. The accountant's statement delivered pursuant to Section 3.14 of
      the Pooling and Servicing Agreement discloses all significant deficiencies
      relating to the master servicer's compliance with the minimum servicing
      standards based upon the report provided by an independent public
      accountant, after conducting a review in compliance with the Uniform
      Single Attestation Program for Mortgage Bankers or similar procedure, as
      set forth in the Pooling and Servicing Agreement; and

            6. All of the reports on assessment of compliance with servicing
      criteria for asset-backed securities and their related attestation reports
      on assessment of compliance with servicing criteria for asset-backed
      securities with respect to the master servicer have been provided as
      required by the Pooling and Servicing Agreement, except as otherwise
      disclosed in the servicing reports. Any material instances of
      noncompliance described in such reports have been disclosed in this report
      on Form 10-K.

            7. If this certification is delivered by the Master Servicer, add:
      In addition, notwithstanding the foregoing certifications under clauses
      (2) and (3) above, the Master Servicer does not make any certification
      under such clauses (2) and (3) above with respect to the information in
      the servicing reports delivered by the Master Servicer to the Trustee
      referred to in such clauses (2) and (3) above that is in turn dependent
      upon information provided by the Special Servicer under the Pooling and
      Servicing Agreement beyond the corresponding certification actually
      provided by the Special Servicer pursuant to Section 8.17(n) of the
      Pooling and Servicing Agreement. Further, notwithstanding the foregoing
      certifications, the Master Servicer does not make any certification under
      the foregoing clauses (1) through (5) that is in turn dependent (i) upon
      information required to be provided by any Sub-Servicer acting under a
      Sub-Servicing Agreement that the Master Servicer entered into in
      connection with the issuance of the Certificates, or upon the performance
      by any such Sub-Servicer of its obligations pursuant to any such
      Sub-Servicing Agreement, in each case beyond the respective backup
      certifications actually provided by such Sub-Servicer to the Master
      Servicer with respect to the information that is the subject of such
      certification, or (ii) upon information required to be provided by the
      Non-Serviced Mortgage Loan Servicer or upon the performance by the
      Non-Serviced Mortgage Loan Servicer of its obligations pursuant to the
      Non-Serviced Mortgage Loan Pooling and Servicing Agreement, in each case
      beyond the backup certification actually provided by the Non-Serviced
      Mortgage Loan Servicer to the Master Servicer with respect to the
      information that is the subject of such certification; provided that this
      clause (ii) shall not apply in the event the Master Servicer is, or is an
      Affiliate of, the Non-Serviced Mortgage Loan Servicer.

              If this certification is delivered by a Sub-Servicer retained by
       the Master Servicer, add: In addition, notwithstanding the foregoing
       certifications under clauses (2) and (3) above, the Master Servicer does
       not make any certification under such clauses (2) and (3) above with
       respect to the information in the servicing reports delivered by the
       Master Servicer to the Trustee referred to in such clauses (2) and (3)
       above that is in turn dependent upon information provided by the Special
       Servicer under the Pooling and Servicing Agreement beyond the
       corresponding certification actually provided by the Special Servicer
       pursuant to Section 8.17(n) of the Pooling and Servicing Agreement.

            In giving the certification above, I have reasonably relied on
information provided to me by the following unaffiliated parties: [names of
sub-servicers].

Date:_________________________________

______________________________________
[Title]
Wachovia Bank, National Association

<PAGE>

                                   EXHIBIT Q-2

                  FORM OF SPECIAL SERVICER CERTIFICATION TO BE
                              PROVIDED TO DEPOSITOR

                    Wachovia Bank Commercial Mortgage Trust,
                  Commercial Mortgage Pass-Through Certificates
                       Series 2006-C29 (the "Trust Fund")

            I, [identify the certifying individual], a [title] of LNR Partners,
Inc., certify to Wachovia Commercial Mortgage Securities, Inc. and their
officers, directors and affiliates, and with the knowledge and intent that they
will rely upon this certification (capitalized terms used herein without
definition shall have the meanings assigned to such terms in the pooling and
servicing agreement), that:

            1. I have reviewed the servicing reports relating to the Trust Fund
      delivered by the special servicer to the depositor pursuant to Section
      3.13 of the pooling and servicing agreement covering the fiscal year
      [____];

            2. Based on my knowledge, the servicing information in these reports
      delivered by the special servicer, taken as a whole, does not contain any
      untrue statement of a material fact or omit to state a material fact
      necessary to make the statements made, in light of the circumstances under
      which such statements were made, not misleading with respect to the period
      covered by such reports;

            3. Based on my knowledge, the servicing information required to be
      provided under Section 3.13 of the pooling and servicing agreement is
      included in such servicing reports delivered by the special servicer to
      the depositor;

            4. I am responsible for reviewing the activities performed by the
      special servicer under the pooling and servicing agreement and based upon
      my knowledge and the annual compliance reviews conducted in preparing the
      servicer compliance statements required in such reports under Item 1123 of
      Regulation AB with respect to the special servicer, and except as
      disclosed in the compliance certificate delivered by the special servicer
      under Section 3.13 of the pooling and servicing agreement, the special
      servicer has fulfilled its obligations under the pooling and servicing
      agreement in all material respects;

            5. The accountant's statement delivered pursuant to Section 3.14 of
      the pooling and servicing agreement discloses all significant deficiencies
      relating to the special servicer's compliance with the minimum servicing
      standards based upon the report provided by an independent public
      accountant, after conducting a review in compliance with the Uniform
      Single Attestation Program for Mortgage Bankers or similar procedure, as
      set forth in the pooling and servicing agreement; and

            6. All of the reports on assessment of compliance with servicing
      criteria for asset-backed securities and their related attestation reports
      on assessment of compliance with servicing criteria for asset-backed
      securities with respect to the special servicer required to be delivered
      by the special servicer under the pooling and servicing agreement in
      accordance with Item 1122 of Regulation AB and Exchange Act Rules 13a-18
      and 15d-18 have been delivered pursuant to the terms of the pooling and
      servicing agreement. Any material instances of noncompliance with the
      servicing criteria have been disclosed in such reports.

Date:_________________________________

______________________________________
[Title]
LNR Partners, Inc.

<PAGE>

                                    EXHIBIT R
                  CLASS A-PB PLANNED PRINCIPAL BALANCE SCHEDULE

<TABLE>
<CAPTION>
       Period             Date       Balance ($)       Period          Date        Balance ($)
       ------             ----       -----------       ------          ----        -----------
<S>                     <C>          <C>                 <C>         <C>          <C>
           0            12/22/06     49,253,000.00       58          10/15/11     49,253,000.00
           1            01/15/07     49,253,000.00       59          11/15/11     49,253,000.00
           2            02/15/07     49,253,000.00       60          12/15/11     49,252,677.09
           3            03/15/07     49,253,000.00       61          01/15/12     48,511,025.38
           4            04/15/07     49,253,000.00       62          02/15/12     47,765,617.20
           5            05/15/07     49,253,000.00       63          03/15/12     46,789,754.12
           6            06/15/07     49,253,000.00       64          04/15/12     46,035,623.22
           7            07/15/07     49,253,000.00       65          05/15/12     45,164,615.68
           8            08/15/07     49,253,000.00       66          06/15/12     44,402,251.07
           9            09/15/07     49,253,000.00       67          07/15/12     43,523,235.02
          10            10/15/07     49,253,000.00       68          08/15/12     42,752,554.34
          11            11/15/07     49,253,000.00       69          09/15/12     41,977,969.99
          12            12/15/07     49,253,000.00       70          10/15/12     41,075,487.43
          13            01/15/08     49,253,000.00       71          11/15/12     40,282,970.16
          14            02/15/08     49,253,000.00       72          12/15/12     39,372,169.64
          15            03/15/08     49,253,000.00       73          01/15/13     38,571,014.91
          16            04/15/08     49,253,000.00       74          02/15/13     37,765,798.68
          17            05/15/08     49,253,000.00       75          03/15/13     36,614,938.76
          18            06/15/08     49,253,000.00       76          04/15/13     35,799,798.69
          19            07/15/08     49,253,000.00       77          05/15/13     34,866,993.99
          20            08/15/08     49,253,000.00       78          06/15/13     34,042,989.93
          21            09/15/08     49,253,000.00       79          07/15/13     33,101,563.64
          22            10/15/08     49,253,000.00       80          08/15/13     32,268,606.84
          23            11/15/08     49,253,000.00       81          09/15/13     31,431,427.10
          24            12/15/08     49,253,000.00       82          10/15/13     30,477,185.45
          25            01/15/09     49,253,000.00       83          11/15/13     29,630,921.06
          26            02/15/09     49,253,000.00       84          12/15/13     28,668,170.19
          27            03/15/09     49,253,000.00       85          01/15/14     27,812,730.20
          28            04/15/09     49,253,000.00       86          02/15/14     26,952,953.16
          29            05/15/09     49,253,000.00       87          03/15/14     25,752,562.37
          30            06/15/09     49,253,000.00       88          04/15/14     24,882,333.14
          31            07/15/09     49,253,000.00       89          05/15/14     23,895,945.75
          32            08/15/09     49,253,000.00       90          06/15/14     23,016,300.93
          33            09/15/09     49,253,000.00       91          07/15/14     22,020,755.43
          34            10/15/09     49,253,000.00       92          08/15/14     21,131,600.74
          35            11/15/09     49,253,000.00       93          09/15/14     20,237,937.84
          36            12/15/09     49,253,000.00       94          10/15/14     19,228,757.62
          37            01/15/10     49,253,000.00       95          11/15/14     18,325,444.51
          38            02/15/10     49,253,000.00       96          12/15/14     17,306,877.97
          39            03/15/10     49,253,000.00       97          01/15/15     16,393,818.01
          40            04/15/10     49,253,000.00       98          02/15/15     15,476,128.52
          41            05/15/10     49,253,000.00       99          03/15/15     14,223,164.20
          42            06/15/10     49,253,000.00      100          04/15/15     13,294,461.68
          43            07/15/10     49,253,000.00      101          05/15/15     12,251,200.00
          44            08/15/10     49,253,000.00      102          06/15/15     11,312,496.37
          45            09/15/10     49,253,000.00      103          07/15/15     10,259,507.06
          46            10/15/10     49,253,000.00      104          08/15/15      9,310,702.18
          47            11/15/10     49,253,000.00      105          09/15/15      8,357,086.29
          48            12/15/10     49,253,000.00      106          10/15/15      7,289,592.53
          49            01/15/11     49,253,000.00      107          11/15/15      6,325,726.08
          50            02/15/11     49,253,000.00      108          12/15/15      5,248,262.06
          51            03/15/11     49,253,000.00      109          01/15/16      4,274,042.39
          52            04/15/11     49,253,000.00      110          02/15/16      3,294,882.72
          53            05/15/11     49,253,000.00      111          03/15/16      2,094,329.40
          54            06/15/11     49,253,000.00      112          04/15/16      1,104,112.39
          55            07/15/11     49,253,000.00      113          05/15/16          1,018.37
          56            08/15/11     49,253,000.00      114          06/15/16              0.00
          57            09/15/11     49,253,000.00
</TABLE>

<PAGE>

                                    EXHIBIT S

                           RELEVANT SERVICING CRITERIA

         SERVICING CRITERIA TO BE ADDRESSED IN ASSESSMENT OF COMPLIANCE

The assessment of compliance to be delivered by the Trustee, the Master
Servicer, the Special Servicer and each Sub-Servicer identified by the Master
Servicer or the Special Servicer shall address, at a minimum, the criteria
identified below as applicable to each Reporting Servicer:

<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------------------------------
                                               SERVICING CRITERIA
----------------------------------------------------------------------------------------------------------------

     Reference                                     Criteria                                  Reporting Servicer
----------------------------------------------------------------------------------------------------------------

                                        General Servicing Considerations
----------------------------------------------------------------------------------------------------------------
<S>                  <C>                                                                   <C>
                     Policies and procedures are instituted to monitor any performance        Master Servicer
                     or other triggers and events of default in accordance with the          Special Servicer
1122(d)(1)(i)        transaction agreements.                                                    Trustee

                     If any material servicing activities are outsourced to                   Master Servicer
                     third parties, policies and procedures are instituted to                Special Servicer
                     monitor the third party's performance and compliance with                   Trustee
1122(d)(1)(ii)       such servicing activities.

                     Any requirements in the transaction agreements to maintain a
1122(d)(1)(iii)      back-up servicer for the mortgage loans are maintained.

                     A fidelity bond and errors and omissions policy is in                    Master Servicer
                     effect on the party participating in the servicing function              Special Servicer
                     throughout the reporting period in the amount of coverage
                     required by and otherwise in accordance with the terms of
1122(d)(1)(iv)       the transaction agreements.

                                       Cash Collection and Administration

                     Payments on mortgage loans are deposited into the                        Master Servicer
                     appropriate custodial bank accounts and related bank                    Special Servicer
                     clearing accounts no more than two business days following                   Trustee
                     receipt, or such other number of
1122(d)(2)(i)        days specified in the transaction agreements.

                     Disbursements made via wire transfer on behalf of an obligor or to         Trustee
1122(d)(2)(ii)       an investor are made only by authorized personnel.

                     Advances of funds or guarantees regarding collections, cash              Master Servicer
                     flows or distributions, and any interest or other fees                  Special Servicer
                     charged for such advances, are made, reviewed and approved                    Trustee
1122(d)(2)(iii)      as specified in the transaction agreements.

                     The related accounts for the transaction, such as cash                   Master Servicer
                     reserve accounts or accounts established as a form of                   Special Servicer
                     overcollateralization, are separately maintained (e.g.,                     Trustee
                     with respect to commingling of cash) as set forth in the
1122(d)(2)(iv)       transaction agreements.

                     Each custodial account is maintained at a federally insured              Master Servicer
                     depository institution as set forth in the                               Special Servicer
                     transaction agreements. For purposes of this criterion,                      Trustee
                     "federally insured depository institution" with respect to
                     a foreign financial institution means a foreign financial
                     institution that meets the requirements of Rule
1122(d)(2)(v)        13k-1(b)(1) of the Securities Exchange Act.

                     Unissued checks are safeguarded so as to prevent unauthorized            Master Servicer
1122(d)(2)(vi)       access.                                                                 Special Servicer
                                                                                                  Trustee

                     Reconciliations are prepared on a monthly basis for all                      Trustee
                     asset-backed securities related bank accounts, including custodial         Master Servicer
                     accounts and related bank clearing accounts. These reconciliations        Special Servicer
                     are (A) mathematically accurate; (B) prepared within 30 calendar
                     days after the bank statement cutoff date, or such other number of
                     days specified in the transaction agreements; (C) reviewed and
                     approved by someone other than the person who prepared the
                     reconciliation; and (D) contain explanations for reconciling items.
                     These reconciling items are resolved within 90 calendar days of
                     their original identification, or such other number of days
1122(d)(2)(vii)      specified in the transaction agreements.

                                       Investor Remittances and Reporting

                     Reports to investors, including those to be filed with the                Trustee
                     Commission, are maintained in accordance with the transaction
                     agreements and applicable Commission requirements. Specifically,
                     such reports (A) are prepared in accordance with timeframes and
                     other terms set forth in the transaction agreements; (B) provide
                     information calculated in accordance with the terms specified in
                     the transaction agreements; (C) are filed with the Commission as
                     required by its rules and regulations; and (D) agree with
                     investors' or the trustee's records as to the total unpaid
                     principal balance and number of mortgage loans serviced by the
1122(d)(3)(i)        Reporting Servicer.

                     Amounts due to investors are allocated and remitted in                       Trustee
                     accordance with timeframes, distribution priority and other
1122(d)(3)(ii)       terms set forth in the transaction agreements.

                     Disbursements made to an investor are posted within two business             Trustee
                     days to the Servicer's investor records, or such other number of
1122(d)(3)(iii)      days specified in the transaction agreements.

                     Amounts remitted to investors per the investor reports                       Trustee
                     agree with cancelled checks, or other form of payment, or
1122(d)(3)(iv)       custodial bank statements.

                                            Pool Asset Administration

                     Collateral or security on mortgage loans is maintained as required           Trustee
1122(d)(4)(i)        by the transaction agreements or related mortgage loan documents.        Master Servicer
                                                                                             Special Servicer

                     Mortgage loan and related documents are safeguarded as required by           Trustee
1122(d)(4)(ii)       the transaction agreements                                              Special Servicer

                     Any additions, removals or substitutions to the mortgage loan  pool          Trustee
                     are made, reviewed and approved in accordance with any conditions        Special Servicer
1122(d)(4)(iii)      or requirements in the transaction agreements.

                     Payments on mortgage loans, including any payoffs, made in                Master Servicer
                     accordance with the related mortgage loan documents are
                     posted to the Servicer's obligor records maintained no more
                     than two business days after receipt, or such other number
                     of days specified in the transaction agreements, and
                     allocated to principal, interest or other items (e.g.,
                     escrow) in accordance with the related mortgage
1122(d)(4)(iv)       loan documents.

                     The Reporting Servicer's records regarding the mortgage                  Master Servicer
                     loans agree with the Reporting Servicer's records with
1122(d)(4)(v)        respect to an obligor's unpaid principal balance.
                     Changes with respect to the terms or status of an obligor's              Master Servicer
                     mortgage loans (e.g., loan modifications or re-agings) are               Special Servicer
                     made, reviewed and approved by authorized personnel in
                     accordance with the transaction agreements and related pool asset
1122(d)(4)(vi)       documents.

                     Loss mitigation or recovery actions (e.g., forbearance                   Special Servicer
                     plans, modifications and deeds in lieu of foreclosure,
                     foreclosures and repossessions, as applicable) are
                     initiated, conducted and concluded in accordance with the
                     timeframes or other requirements established by the transaction
1122(d)(4)(vii)      agreements.

                     Records documenting collection efforts are maintained                     Master Servicer
                     during the period a mortgage loan is delinquent in                        Special Servicer
                     accordance with the transaction agreements. Such records
                     are maintained on at least a monthly basis,
                     or such other period specified in the transaction
                     agreements, and describe the entity's activities in
                     monitoring delinquent mortgage loans including, for
                     example, phone calls, letters and payment rescheduling
                     plans in cases where delinquency
1122(d)(4)(viii)     is deemed temporary (e.g., illness or unemployment).

                     Adjustments to interest rates or rates of return for                      Master Servicer
                     mortgage loans with variable rates are computed based on
1122(d)(4)(ix)       the related mortgage loan documents.

                     Regarding any funds held in trust for an obligor (such as escrow           Master Servicer
                     accounts): (A) such funds are analyzed, in accordance with the
                     obligor's mortgage loan documents, on at least an annual basis, or
                     such other period specified in the transaction agreements; (B)
                     interest on such funds is paid, or credited, to obligors in
                     accordance with applicable mortgage loan documents and state laws;
                     and (C) such funds are returned to the obligor within 30 calendar
                     days of full repayment of the related mortgage loans, or such other
1122(d)(4)(x)        number of days specified in the transaction agreements.

                     Payments made on behalf of an obligor (such as tax or                    Master Servicer
                     insurance payments) are made on or before the related
                     penalty or expiration dates, as indicated on the
                     appropriate bills or notices for such payments, provided
                     that such support has been received by the servicer at
                     least 30 calendar days prior to these dates, or such
                     other number of days specified in the transaction
1122(d)(4)(xi)       agreements.

                     Any late payment penalties in connection with any payment                Master Servicer
                     to be made on behalf of an obligor are paid from the
                     servicer's funds and not charged to the obligor, unless the
1122(d)(4)(xii)      late payment was due to the obligor's error or omission.

                     Disbursements made on behalf of an obligor are posted                     Master Servicer
                     within two business days to the obligor's records
                     maintained by the servicer, or such other number of days
1122(d)(4)(xiii)     specified in the transaction agreements.

                     Delinquencies, charge-offs and uncollectible accounts are                 Master Servicer
                     recognized and recorded in accordance with the transaction
1122(d)(4)(xiv)      agreements.

                     Any external enhancement or other support, identified in Item
                     1114(a)(1) through (3) or Item 1115 of Regulation AB, is maintained            N/A
1122(d)(4)(xv)       as set forth in the transaction agreements.

</TABLE>

[NAME OF REPORTING SERVICER]

Date: ________________________________

By:  _________________________________

Name:  _______________________________

Title:  ______________________________

<PAGE>

                                    EXHIBIT T

                                   [RESERVED]

<PAGE>

<TABLE>
<CAPTION>
                                                              EXHIBIT U

                                                   ADDITIONAL FORM 10-D DISCLOSURE

                       Item on Form 10-D                                               Party Responsible
------------------------------------------------------------------------------------------------------------------------------------
<S>                                                               <C>
     Item 1: Distribution and Pool Performance Information                     Master Servicer (only with respect
                                                                  to Item 1121(a)(12) and solely with respect to non-Specially
                                                                                    Serviced Mortgage Loans)
 Any information required by 1121 which is NOT included on the     Special Servicer (only with respect to Item 1121(a)(12) and
                  Distribution Date Statement                       solely with respect to Specially Serviced Mortgage Loans)
                                                                                             Trustee
------------------------------------------------------------------------------------------------------------------------------------

  Item 2: Legal Proceedings per Item 1117 of Regulation AB (to     (i) All parties to the Pooling and Servicing Agreement (as
           the extent material to Certificateholders)               to themselves), (ii) the Trustee, the Master Servicer and
                                                                     the Special Servicer as to the Wachovia Bank Commercial
                                                                        Mortgage Trust, Commercial Mortgage Pass-Through
                                                                    Certificates, Series 2006-C29 (in the case of the Master
                                                                    Servicer and the Special Servicer, to be reported by the
                                                                  party controlling litigation pursuant to Section 3.30 of the
                                                                   Pooling and Servicing Agreement), (iii) the Depositor as to
                                                                  the sponsors, any 1110(b) originator and any 1100(d)(1) party
------------------------------------------------------------------------------------------------------------------------------------

         Item 3: Sale of Securities and Use of Proceeds                                     Depositor
------------------------------------------------------------------------------------------------------------------------------------

           Item 4: Defaults Upon Senior Certificates                                         Trustee
------------------------------------------------------------------------------------------------------------------------------------

 Item 5: Submission of Matters to a Vote of Certificateholders                               Trustee
------------------------------------------------------------------------------------------------------------------------------------

          Item 6: Significant Obligors of Pool Assets                                          N/A
------------------------------------------------------------------------------------------------------------------------------------

Item 7:  Significant Enhancement Provider Information                                       Depositor
------------------------------------------------------------------------------------------------------------------------------------

     Item 8: Other Information (information required to be          Any party responsible for disclosure items on Form 8-K to
     disclosed on Form 8-K that was not properly disclosed)                         the extent of such items
------------------------------------------------------------------------------------------------------------------------------------

                        Item 9: Exhibits                                                     Trustee
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>

<PAGE>

                                    EXHIBIT V

                       ADDITIONAL DISCLOSURE NOTIFICATION

**SEND VIA FAX TO 410-715-2380 AND VIA EMAIL TO WELLS FARGO BANK, N.A. AT
cts.sec.notifications@wellsfargo.com AND VIA OVERNIGHT MAIL TO WELLS FARGO AND
WACHOVIA AT THE ADDRESSES IMMEDIATELY BELOW**

Wells Fargo Bank, N.A.
9062 Old Annapolis Road
Columbia, Maryland  21045-1951
Attn: Corporate Trust Services - Wachovia Bank Commercial Mortgage Trust,
Commercial Mortgage Pass-Through Certificates, Series 2006-C29 SEC REPORT
PROCESSING

Wachovia Commercial Mortgage Securities, Inc.
301 South College Street
Charlotte, North Carolina 28288
Attention: Charles Culbreth, Managing Director

RE:  **Additional Form [10-D][10-K][8-K] Disclosure** Required

Ladies and Gentlemen:

            In accordance with Section [8.17(i)][8.17(j)][8.17(k)] of the
pooling and servicing agreement, dated as of December 1, 2006 (the "Pooling and
Servicing Agreement"), by and among Wachovia Commercial Mortgage Securities,
Inc., as Depositor, Wachovia Bank, National Association, as Master Servicer, LNR
Partners, Inc., as Special Servicer, and Wells Fargo Bank, N.A., as Trustee. The
undersigned, as [ ], hereby notifies you that certain events have come to our
attention that [will] [may] need to be disclosed on Form [10-D][10-K][8-K].

Description of Additional Form [10-D][10-K][8-K] Disclosure:
------------------------------------------------------------

List of any Attachments hereto to be included in the Additional Form
--------------------------------------------------------------------
[10-D][10-K][8-K] Disclosure:
----------------------------

            Any inquiries related to this notification should be directed to
[       ], phone number: [       ]; email address: [      ].

                                               [NAME OF PARTY],
                                                   as [role]

                                               By: _____________________________
                                                   Name:
                                                   Title:

cc:     Depositor

<PAGE>

<TABLE>
<CAPTION>
                                              EXHIBIT W

                                   ADDITIONAL FORM 10-K DISCLOSURE

----------------------------------------------------------------------------------------------------
               Item on Form 10-K                                Party Responsible
----------------------------------------------------------------------------------------------------
<S>                                               <C>
       Item 1B: Unresolved Staff Comments                           Depositor
----------------------------------------------------------------------------------------------------

    Item 9B: Other Information (information       Any party responsible for disclosure items on
 required to be disclosed on Form 8-K that was         Form 8-K to the extent of such items
            not properly disclosed)
----------------------------------------------------------------------------------------------------

     Item 15: Exhibits, Financial Statement                          Trustee
                   Schedules
----------------------------------------------------------------------------------------------------

                Additional Item:                   (i) All parties to the Pooling and Servicing
   Disclosure per Item 1117 of Reg AB (to the         Agreement (as to themselves), (ii) the
    extent material to Certificateholders)         Trustee, the Master Servicer and the Special
                                                   Servicer as to the Wachovia Bank Commercial
                                                       Mortgage Trust, Commercial Mortgage
                                                    Pass-Through Certificates, Series 2006-C29
                                                   (in the case of the Master Servicer and the
                                                  Special Servicer, to be reported by the party
                                                    controlling litigation pursuant to Section
                                                  3.30 of the Pooling and Servicing Agreement),
                                                   (iii) the Depositor as to the sponsors, any
                                                   1110(b) originator and any 1100(d)(1) party
----------------------------------------------------------------------------------------------------

                Additional Item:                   (i) All parties to the Pooling and Servicing
   Disclosure per Item 1119 of Reg AB (to the        Agreement (as to themselves), as to the
    extent material to Certificateholders)         Master Servicer, only to the extent material
                                                       to Certificateholders and only as to
                                                   affiliations under 1119(a) with the Trustee,
                                                         Special Servicer or a 1108(a)(3)
                                                   Sub-Servicer, (ii) the Trustee, the Special
                                                    Servicer and the Master Servicer as to the
                                                     Wachovia Bank Commercial Mortgage Trust,
                                                         Commercial Mortgage Pass-Through
                                                     Certificates, Series 2006-C29, (iii) the
                                                    Depositor as to the sponsors, any 1110(b)
                                                       originator and any 1100(d)(1) party
----------------------------------------------------------------------------------------------------

                Additional Item:                                       N/A
     Disclosure per Item 1112(b) of Reg AB
----------------------------------------------------------------------------------------------------

                Additional Item:                                    Depositor
Disclosure per Items 1114(b) and 1115(b) of Reg
                       AB
----------------------------------------------------------------------------------------------------
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
                                              EXHIBIT X

                                   FORM 8-K DISCLOSURE INFORMATION

----------------------------------------------------------------------------------------------------
                Item on Form 8-K                                Party Responsible
----------------------------------------------------------------------------------------------------

<S>                                                 <C>
  Item 1.01- Entry into a Material Definitive        All parties to this Agreement only as to
                   Agreement                         agreements such entity is a party to or
                                                     entered into on behalf of the Trust Fund
----------------------------------------------------------------------------------------------------

Item 1.02- Termination of a Material Definitive      All parties to this Agreement only as to
                   Agreement                         agreements such entity is a party to or
                                                     entered into on behalf of the Trust Fund
----------------------------------------------------------------------------------------------------

     Item 1.03- Bankruptcy or Receivership                          Depositor
----------------------------------------------------------------------------------------------------

Item 2.04- Triggering Events that Accelerate or                     Depositor
  Increase a Direct Financial Obligation or an
     Obligation under an Off-Balance Sheet
                  Arrangement
----------------------------------------------------------------------------------------------------

 Item 3.03- Material Modification to Rights of                       Trustee
                Security Holders
----------------------------------------------------------------------------------------------------

      Item 5.03- Amendments of Articles of                          Depositor
 Incorporation or Bylaws; Change of Fiscal Year
----------------------------------------------------------------------------------------------------

 Item 6.01- ABS Informational and Computational                     Depositor
                    Material
----------------------------------------------------------------------------------------------------

 Item 6.02- Change of Master Servicer, Special          Master Servicer (as to itself or a
              Servicer or Trustee                 Sub-Servicer retained by the Master Servicer)
                                                        Special Servicer(as to itself or a
                                                  Sub-Servicer retained by the Special Servicer)
                                                                     Trustee
----------------------------------------------------------------------------------------------------

   Item 6.03- Change in Credit Enhancement or                       Depositor
                External Support                                     Trustee
----------------------------------------------------------------------------------------------------

     Item 6.04- Failure to Make a Required                           Trustee
                  Distribution
----------------------------------------------------------------------------------------------------

 Item 6.05- Securities Act Updating Disclosure                      Depositor
----------------------------------------------------------------------------------------------------

          Item 7.01- Reg FD Disclosure                              Depositor
----------------------------------------------------------------------------------------------------

                   Item 8.01                                        Depositor
----------------------------------------------------------------------------------------------------

                   Item 9.01                                        Depositor
----------------------------------------------------------------------------------------------------
</TABLE>

<PAGE>

                                    EXHIBIT Y

                                SUB-SERVICER LIST

--------------------------------------------------------------------------------
        SUB-SERVICERS                       SUB-SERVICED MORTGAGE LOANS
--------------------------------------------------------------------------------
Holliday Fenoglio Fowler, L.P.            Hilton--Providence, RI
                                          Crossroads Technology Park
                                          Lakeland Commons Shopping Center
                                          Concourse Office Plaza I & II
                                          The Place at Greenway Apartments
                                          Atrium Crest
                                          The Venterra at Waters Edge Apartments
                                          Park Manor Apartments

Capmark Finance Inc.                      Landmark Village

Laureate Capital LLC                      Wingate Inn--Hoover, AL

CBRE Melody of Texas, LP                  Driftwood Village Shopping Center

                                          Shops at Volente

                                          Parker Crossroads

                                          First Commons Industrial Buildings

<PAGE>

                                    EXHIBIT Z

                      TENANTS-IN-COMMON TRANSFER COMPLIANCE

<TABLE>
<CAPTION>
                                               Timing &                        Approval                       Accredited
                                                Notice                          of New                         Investors
        Sponsor Name                         Requirement                       Borrower                          Only
------------------------------------------------------------------------------------------------------------------------------------
<S>                                <C>                              <C>                             <C>
CORE Loans - Initial TIC           First 180 days upon 10 days      At Lender's Discretion          Yes
Transfers Amli at Riverbend)       notice; No more than 2 groups
                                   per month

CORE Loans - Future TIC            After the first 180 days upon    At Lender's Discretion          Yes
Transfers                          30 days notice; No more than
                                   20 permitted; No more than 2
                                   per month

Cole Loans (Barry Woods Crossing   Post - Securitization: Not       At Lender's Discretion          Yes
Shopping Center)                   less than 45 days before the
                                   date on which such Sale is
                                   scheduled to close

Cole Loans- Future TIC Transfers   Post - Securitization: Not       At Lender's discretion          Yes
                                   less than 45 days before the
                                   date on which such Sale is
                                   scheduled to close

Passco Real Estate Enterprises     First 180 days upon 10 days      At Lender's Discretion          Yes
(Raveneaux Apartments)             notice; No more than 2 groups
                                   per month

Passco Real Estate Enterprises-    After the first 180 days upon    At Lender's Discretion          Yes
Future TIC Transfers               30 days notice; No more than
                                   20 permitted; No more than 2
                                   per month

Lakeland Commons Shopping Center   First 180 days upon 10 days      At Lender's discretion.         Yes.
                                   notice.  After first 180 days
                                   upon 60 days notice.

SCI Loans - Initial TIC            First 180 days upon 10 days      At Lender's Discretion          Yes
Transfers (ITC Crossing South;     notice; No more than 2 groups
Bryant Square; The Exchange at     per month
Denton)

SCI Loans - Future TIC Transfers   After the first 180 days upon    At Lender's Discretion          Yes
                                   30 days notice; No more than
                                   20 permitted; No more than 2
                                   per month

NNN Loans (Arbors at Fairview      At any time upon 20 days notice  At Lender's Discretion          Yes
Apts; Beechwood Apts)

Guardian (River Ranch)             After the first 180 days upon    At Lender's Discretion          Yes
                                   30 days notice; No more than
                                   20 permitted; No more than 2
                                   per month

Guardian- Future TIC Transfers     After the first 180 days upon    At Lender's Discretion          Yes
                                   30 days notice; No more than
                                   20 permitted; No more than 2
                                   per month

Resource Real Estate Holdings,     30 days prior to scheduled       At Lender's Discretion          Loan documents do not require
Inc. (Heritage Lake at Westlands   closing                                                          that investors be accredited,
Apartments)                                                                                         but Sponsor's purchaser
                                                                                                    questionnaire contains a rep
                                                                                                    from investor that they are
                                                                                                    accredited

Resource Real Estate Holdings,     60 days prior to scheduled       At Lender's discretion          Loan documents do not require
Inc. - Future TIC Transfers        closing                                                          that investors be accredited,
                                                                                                    but Sponsor's purchaser
                                                                                                    questionnaire contains a rep
                                                                                                    from investor that they are
                                                                                                    accredited

<CAPTION>
                                                         Continued                               New
                                                          Sponsor                              Borrower
                                                          Control                                Debt
           Sponsor Name                                 Requirement                           Liability
-----------------------------------------------------------------------------------------------------------
<S>                                 <C>                                                     <C>
CORE Loans - Initial TIC            Sponsor is not required to maintain any interest in     Joint & Several
Transfers Amli at Riverbend)        the Property

CORE Loans - Future TIC             Not Applicable                                          Joint & Several
Transfers

Cole Loans (Barry Woods Crossing    Sponsor is not required to maintain any interest in     Joint & Several
Shopping Center)                    the Property

Cole Loans- Future TIC Transfers    Sponsor is not required to maintain any interest in     Joint & Several
                                    the Property

Passco Real Estate Enterprises      Passco Companies, LLC must continue to hold 1%,         Joint & Several
(Raveneaux Apartments)              directly or indirectly, in the property

Passco Real Estate Enterprises-     Passco Companies, LLC must continue to hold 1%,         Joint & Several
Future TIC Transfers                directly or indirectly, in the property

Lakeland Commons Shopping Center    Not Applicable.                                         Joint & Several.

SCI Loans - Initial TIC             SCI Real Estate Investments, LLC must continue to       Joint & Several
Transfers (ITC Crossing South;      hold 1%, directly or indirectly, in the property
Bryant Square; The Exchange at
Denton)

SCI Loans - Future TIC Transfers    Not Applicable                                          Joint & Several

NNN Loans (Arbors at Fairview       Sponsor is not required to maintain any interest in     Joint & Several
Apts; Beechwood Apts)               the Property

Guardian (River Ranch)              Sponsor is not required to maintain any interest in     Joint & Several
                                    the Property

Guardian- Future TIC Transfers      Not Applicable                                          Joint & Several

Resource Real Estate Holdings,      Sponsor must continue to hold 21% interest in the       Joint & Several
Inc. (Heritage Lake at Westlands    property
Apartments)

Resource Real Estate Holdings,      Sponsor must continue to hold 21% interest in the       Joint & Several
Inc. - Future TIC Transfers         property

<CAPTION>
                                                                                Sponsor
                                                 New                            Release
                                              Guarantor                           on
   Sponsor Name                              Requirement                       Guaranty
--------------------------------------------------------------------------------------------------------
<S>                                   <C>                             <C>
CORE Loans - Initial TIC              Principal(s) of new TIC LLC     Indirectly; Each TIC liable
Transfers Amli at Riverbend)          to sign new TIC Indemnity       for own actions
                                      Agreement

CORE Loans - Future TIC               Principal(s) of new TIC LLC     Not Applicable
Transfers                             to sign new TIC Indemnity
                                      Agreement

Cole Loans (Barry Woods Crossing      Principal(s) of new TIC LLC     Limited Release
Shopping Center)                      to sign new TIC Indemnity
                                      Agreement

Cole Loans- Future TIC Transfers      Principal(s) of new TIC LLC     Limited Release
                                      to sign new TIC Indemnity
                                      Agreement

Passco Real Estate Enterprises        Principal(s) of new TIC LLC     Indirectly; Each TIC liable
(Raveneaux Apartments)                to sign new TIC Indemnity       for own actions
                                      Agreement

Passco Real Estate Enterprises-       Principal(s) of new TIC LLC     Not Applicable
Future TIC Transfers                  to sign new TIC Indemnity
                                      Agreement

Lakeland Commons Shopping Center      A party approved by Lender to   Upon initial TIC transfer,
                                      sign new TIC Indemnity.         Sponsor signed Amended and
                                                                      Restated Indemnity and
                                                                      Guaranty Agreement which
                                                                      replaces the Indemnity and
                                                                      Guaranty Agreement signed at
                                                                      origination.

SCI Loans - Initial TIC               Principal(s) of new TIC LLC     Indirectly; Each TIC liable
Transfers (ITC Crossing South;        to sign new TIC Indemnity       for own actions
Bryant Square; The Exchange at        Agreement
Denton)

SCI Loans - Future TIC Transfers      Principal(s) of new TIC LLC     Not Applicable
                                      to sign new TIC Indemnity
                                      Agreement

NNN Loans (Arbors at Fairview         Not Applicable; Sponsor         Not Applicable; Sponsor
Apts; Beechwood Apts)                 provides indemnity for all      provides indemnity for all
                                      entities                        entities

Guardian (River Ranch)                Not Applicable; Sponsor         Not Applicable; Sponsor
                                      provides indemnity for all      provides indemnity for all
                                      entities                        entities

Guardian- Future TIC Transfers        Principal(s) of new TIC LLC     Not Applicable
                                      to sign new TIC Indemnity
                                      Agreement

Resource Real Estate Holdings,        Principal(s) of new TIC LLC     Not Applicable
Inc. (Heritage Lake at Westlands      to sign new TIC Indemnity
Apartments)                           Agreement

Resource Real Estate Holdings,        Principal(s) of new TIC LLC     Not applicable
Inc. - Future TIC Transfers           to sign new TIC Indemnity
                                      Agreement

<CAPTION>
                                              General                          Total
                                               Pre-                          Borrowers
        Sponsor Name                        Conditions                       Permitted
--------------------------------------------------------------------------------------------------
<S>                                <C>                              <C>
CORE Loans - Initial TIC           (i) No Event of Default; (ii)    Max permitted under Rev.
Transfers Amli at Riverbend)       No material adverse change in    Proc. 2002-14 (currently 35)
                                   financial condition

CORE Loans - Future TIC            (i) No Event of Default; (ii)    Max permitted under Rev.
Transfers                          No material adverse change in    Proc. 2002-14 (currently 35)
                                   financial condition

Cole Loans (Barry Woods Crossing   (i) No Event of Default; (ii)    Max permitted under Rev.
Shopping Center)                   No material adverse change in    Proc. 2002-14 (currently 35)
                                   financial condition

Cole Loans- Future TIC Transfers   (i) No Event of Default; (ii)    Max permitted under Rev.
                                   No material adverse change in    Proc. 2002-14 (currently 35)
                                   financial condition

Passco Real Estate Enterprises     (i) No Event of Default; (ii)    Max permitted under Rev.
(Raveneaux Apartments)             No material adverse change in    Proc. 2002-14 (currently 35)
                                   financial condition

Passco Real Estate Enterprises-    (i) No Event of Default; (ii)    Max permitted under Rev.
Future TIC Transfers               No material adverse change in    Proc. 2002-14 (currently 35)
                                   financial condition

Lakeland Commons Shopping Center   (1) No Event of Default, (2)     Max permitted under Rev.
                                   No material adverse change in    Proc. 2002-22, I.R.B. 2002-14
                                   financial condition of initial   (currently 35).
                                   borrower or Sponsor.

SCI Loans - Initial TIC            (i) No Event of Default; (ii)    Max permitted under Rev.
Transfers (ITC Crossing South;     No material adverse change in    Proc. 2002-14 (currently 35)
Bryant Square; The Exchange at     financial condition
Denton)

SCI Loans - Future TIC Transfers   (i)No Event of Default; (ii)    Max permitted under Rev.
                                   No material adverse change in    Proc. 2002-14 (currently 35)
                                   financial condition

NNN Loans (Arbors at Fairview      (i) No Event of Default; (ii)    Max permitted under Rev.
Apts; Beechwood Apts)              No material adverse change in    Proc. 2002-14 (currently 35)
                                   financial condition

Guardian (River Ranch)             (i) No Event of Default; (ii)    Max permitted under Rev.
                                   No material adverse change in    Proc. 2002-14 (currently 35)
                                   financial condition

Guardian- Future TIC Transfers     (i) No Event of Default; (ii)    Max permitted under Rev.
                                   No material adverse change in    Proc. 2002-14 (currently 35)
                                   financial condition

Resource Real Estate Holdings,     (1) No Event of Default, (2)     Max permitted under Rev.
Inc. (Heritage Lake at Westlands   No material adverse change in    Proc. 2002-14 (currently 35)
Apartments)                        financial condition of initial
                                   borrower or Sponsor.

Resource Real Estate Holdings,     (1) No Event of Default, (2)     Max permitted under Rev.
Inc. - Future TIC Transfers        No material adverse change in    Proc. 2002-14 (currently 35)
                                   financial condition of initial
                                   borrower or Sponsor.

<CAPTION>
         Sponsor Name                      Required Closing & Assumption Documents                 Opinions Required
-----------------------------------------------------------------------------------------------------------------------------
<S>                                <C>                                                        <C>
CORE Loans - Initial TIC           Settlement Statement; Transfer Deed; Note Modification;    Due Execution;
Transfers Amli at Riverbend)       Partial Loan Assumption Agreement; TIC Indemnity           Enforceability;
                                   Agreement; Assumption of TIC Agreement; UCCs;              Non-Consolidation (only if
                                   Subordinate Loan Acknowledgment (if applicable); other     required at initial closing)
                                   required by Lender

CORE Loans - Future TIC            Settlement Statement; Transfer Deed; Note Modification;    Due Execution;
Transfers                          Partial Loan Assumption Agreement; TIC Indemnity           Enforceability;
                                   Agreement; Assumption of TIC Agreement; UCCs;              Non-Consolidation (only if
                                   Subordinate Loan Acknowledgment (if applicable); other     required at initial closing)
                                   required by Lender

Cole Loans (Barry Woods Crossing   Approved Investor Questionnaire; Note Modification;        Due Execution;
Shopping Center)                   Partial Loan Assumption Agreement; Transferee Indemnity    Enforceability;
                                   Agreement; UCC Financing Statements; Tenants-In-Common     Non-Consolidation (only if
                                   Agreement; Transfer-Deed; Settlement Statement             required at initial closing)

Cole Loans- Future TIC Transfers   Approved Investor Questionnaire; Note Modification;        Due Execution;
                                   Partial Loan Assumption Agreement; Transferee Indemnity    Enforceability;
                                   Agreement; UCC Financing Statements; Tenants-In-Common     Non-Consolidation (only if
                                   Agreement; Transfer-Deed; Settlement Statement             required at initial closing)

Passco Real Estate Enterprises     Settlement Statement; Transfer Deed; Note Modification;    Due Execution;
(Raveneaux Apartments)             Partial Loan Assumption Agreement; TIC Indemnity           Enforceability;
                                   Agreement; Assumption of TIC Agreement; UCCs; other        Non-Consolidation (only if
                                   required by Lender                                         required at initial closing)

Passco Real Estate Enterprises-    Settlement Statement; Transfer Deed; Note Modification;    Due Execution;
Future TIC Transfers               Partial Loan Assumption Agreement; TIC Indemnity           Enforceability;
                                   Agreement; Assumption of TIC Agreement; UCCs; other        Non-Consolidation (only if
                                   required by Lender                                         required at initial closing)

Lakeland Commons Shopping Center   Settlement Statement, Transfer Deed, assignment or         Due formation and
                                   assumption of TIC Agreement and Asset Management           organization, and
                                   Agreement, Consent an Agreement of Asset Manager, Note     enforceability.
                                   Modification, Partial Loan Assumption Agreement, TIC
                                   Indemnity Agreement, UCC Financing Statements and others
                                   reasonably requested by Lender.

SCI Loans - Initial TIC            Settlement Statement; Transfer Deed; Note Modification;    Due Execution;
Transfers (ITC Crossing South;     Partial Loan Assumption Agreement; TIC Indemnity           Enforceability;
Bryant Square; The Exchange at     Agreement; Assumption of TIC Agreement; UCCs;              Non-Consolidation (only if
Denton)                            Subordinate Loan Acknowledgment (if applicable); other     required at initial closing)
                                   required by Lender

SCI Loans - Future TIC Transfers   Settlement Statement; Transfer Deed; Note Modification;    Due Execution;
                                   Partial Loan Assumption Agreement; TIC Indemnity           Enforceability;
                                   Agreement; Assumption of TIC Agreement; UCCs;              Non-Consolidation (only if
                                   Subordinate Loan Acknowledgment (if applicable); other     required at initial closing)
                                   required by Lender

NNN Loans (Arbors at Fairview      Settlement Statement; Transfer Deed; Note Modification;    Due Execution;
Apts; Beechwood Apts)              Partial Loan Assumption Agreement; Assumption of TIC       Enforceability;
                                   Agreement; UCCs; other required by Lender                  Non-Consolidation (only if
                                                                                              required at initial closing)

Guardian (River Ranch)             Settlement Statement; Transfer Deed; Note Modification;    Due Execution;
                                   Partial Loan Assumption Agreement; TIC Indemnity           Enforceability;
                                   Agreement; Assumption of TIC Agreement; UCCs;              Non-Consolidation (only if
                                   Subordinate Loan Acknowledgment (if applicable); other     required at initial closing)
                                   required by Lender

Guardian- Future TIC Transfers     Settlement Statement; Transfer Deed; Note Modification;    Due Execution;
                                   Partial Loan Assumption Agreement; TIC Indemnity           Enforceability;
                                   Agreement; Assumption of TIC Agreement; UCCs;              Non-Consolidation (only if
                                   Subordinate Loan Acknowledgment (if applicable); other     required at initial closing)
                                   required by Lender

Resource Real Estate Holdings,     Loan Assumption Agreement; Assignment and Assumption       Due Execution;
Inc. (Heritage Lake at Westlands   Agreement; Settlement Statement; Transfer Deed; Note       Enforceability;
Apartments)                        Modification; UCCs; other documents required by Lender     Non-Consolidation; Authority
                                                                                              to File

Resource Real Estate Holdings,     Loan Assumption Agreement; Assignment and Assumption       Due Execution;
Inc. - Future TIC Transfers        Agreement; Settlement Statement; Transfer Deed; Note       Enforceability;
                                   Modification; UCCs; other documents required by Lender     Non-Consolidation; Authority
                                                                                              to File

<CAPTION>
         Sponsor Name                      Assumption/ Application Fees                 SPE Requirement
----------------------------------------------------------------------------------------------------------------
<S>                                <C>                                           <C>
CORE Loans - Initial TIC           Greater of $4,000 or $1,500 per TIC, LLC      All TIC LLCs must be Delaware
Transfers Amli at Riverbend)                                                     SPEs; all organization
                                                                                 documents to be approved by
                                                                                 Lender

CORE Loans - Future TIC            $5,000 application fee and prorate 0.5%       New Borrower must be Delaware
Transfers                          assumption fee, plus costs                    SPE, all organization
                                                                                 documents to be approved by
                                                                                 Lender

Cole Loans (Barry Woods Crossing   Pre-Securitization: No fee                    All TIC LLCs must be Delaware
Shopping Center)                   Post-Securitization: No fee to be in          SPEs; all organization
                                   connection with any transfer by initial       documents to be approved by
                                   grantor to a Co-Owner transferee              Lender

Cole Loans- Future TIC Transfers   Post-Securitization: No fee to be in          All TIC LLCs must be Delaware
                                   connection with any transfer by initial       SPEs; all organization
                                   grantor to a Co-Owner transferee; Any other   documents to be approved by
                                   transfers, 1.0% fee which shall be            Lender
                                   pro-rated to the amount of such co-tenant's
                                   undivided percentage interest in the
                                   Mortgaged Property

Passco Real Estate Enterprises     $1000 per TIC LLC plus costs                  All TIC LLCs must be Delaware
(Raveneaux Apartments)                                                           SPEs; all organization
                                                                                 documents to be approved by
                                                                                 Lender

Passco Real Estate Enterprises-    $5,000 for the first 10 Future TIC            New Borrower must be Delaware
Future TIC Transfers               Transfers; thereafter a 0.5% assumption       SPE, all organization
                                   fee, plus costs                               documents to be approved by
                                                                                 Lender

Lakeland Commons Shopping Center   No assumption or application fee for TIC      New Borrower must be SPE.
                                   Transfers during first 180 days.  For Sale
                                   during first 180 days a $5,000.00
                                   application fee and 1%of UPB assumption
                                   fee.  For Sale after first 180 days
                                   $2,500.00 application fee and prorata 1%
                                   UPB assumption fee.

SCI Loans - Initial TIC            $1000 per TIC LLC for first 5 new TIC LLCs;   All TIC LLCs must be Delaware
Transfers (ITC Crossing South;     $750 per TIC LLC for 6-10; $500 per TIC LLC   SPEs; all organization
Bryant Square; The Exchange at     for 11-15; $250 per TIC LLC for 16+; plus     documents to be approved by
Denton)                            costs for all closings                        Lender

SCI Loans - Future TIC Transfers   $2,000 application fee and prorate 0.5%       New Borrower must be Delaware
                                   assumption fee, plus costs                    SPE, all organization
                                                                                 documents to be approved by
                                                                                 Lender

NNN Loans (Arbors at Fairview      $1000 per TIC LLC plus costs                  All TIC LLCs must be Delaware
Apts; Beechwood Apts)                                                            SPEs; all organization
                                                                                 documents to be approved by
                                                                                 Lender

Guardian (River Ranch)             $1000 per TIC LLC plus costs                  All TIC LLCs must be Delaware
                                                                                 SPEs; all organization
                                                                                 documents to be approved by
                                                                                 Lender

Guardian- Future TIC Transfers     $2,000 application fee and prorate 0.5%       New Borrower must be Delaware
                                   assumption fee, plus costs                    SPE, all organization
                                                                                 documents to be approved by
                                                                                 Lender

Resource Real Estate Holdings,     Credit Search fee of $1,000 per TIC           All transferees must be SPE
Inc. (Heritage Lake at Westlands   transfer ; Assumption fee of 0.125% of loan   having 1 independent director
Apartments)                        amount assumed for transfers w/in 24 months
                                   of origination and 0.375% for transfers
                                   after 24 months

Resource Real Estate Holdings,     $2,500 Application Fee; $1,000 Credit         All transferees must be SPE
Inc. - Future TIC Transfers        Search Fee; Assupmtion Fee of 0.375% of the   having 1 independent director
                                   amount of the percentage of the loan being
                                   assumed based on the precentage of the
                                   ownership structure of Borrower being
                                   purchased.

<CAPTION>
           Sponsor Name               Title Down-Date Endorsement        Insurance Endorsements
----------------------------------------------------------------------------------------------------
<S>                                <C>                              <C>
CORE Loans - Initial TIC           Required                         Not Required
Transfers Amli at Riverbend)

CORE Loans - Future TIC            Required                         Not Required
Transfers

Cole Loans (Barry Woods Crossing   Required                         Not Required
Shopping Center)

Cole Loans- Future TIC Transfers   Required                         Required (Section (7))

Passco Real Estate Enterprises     Required                         Not Required
(Raveneaux Apartments)

Passco Real Estate Enterprises-    Required                         Not Required
Future TIC Transfers

Lakeland Commons Shopping Center   As required by Lender.           As required by Lender.

SCI Loans - Initial TIC            Required                         Not Required
Transfers (ITC Crossing South;
Bryant Square; The Exchange at
Denton)

SCI Loans - Future TIC Transfers   Required                         Not Required

NNN Loans (Arbors at Fairview      Required                         Not Required
Apts; Beechwood Apts)

Guardian (River Ranch)             Required                         Not Required

Guardian- Future TIC Transfers     Required                         Not Required

Resource Real Estate Holdings,     Required                         At Lender's Discretion
Inc. (Heritage Lake at Westlands
Apartments)

Resource Real Estate Holdings,     Required                         Required
Inc. - Future TIC Transfers

<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
          TIC SYNDICATOR                Loan Seller            Loan Number         Mortgage Loan Number            RE COUNSEL
------------------------------------------------------------------------------------------------------------------------------------
<S>                                       <C>                      <C>                  <C>                      <C>
               CORE                       Wachovia                  15                  502857427                 James Tucker
               Cole                       Wachovia                  23                  502855564                   Jay Suhr
  Passco Real Estate Enterprises          Wachovia                  27                  502856005                 James Tucker
  Covington Realty Partners, LLC          Wachovia                  25                  502857841                   Jay Suhr
                SCI                       Wachovia                  20                  502857425                 James Tucker
                NNN                       Wachovia                  76                  502857292                 James Tucker
                NNN                       Wachovia                  87                  502858091                 James Tucker
             Guardian                     Wachovia                  61                  502857254                   Jay Suhr
Resource Real Estate Holdings, Inc.       Wachovia                  49                  502857834                   Jay Suhr
------------------------------------------------------------------------------------------------------------------------------------
    CONFIRMED: FULLY SYNDICATED           Wachovia                  74                  502858140                 Tim gilbert
    CONFIRMED: FULLY SYNDICATED           Wachovia                  35                  502855032                   Jeff Lee
    CONFIRMED: FULLY SYNDICATED           Wachovia                  60                  502857042                   Jay Suhr
    CONFIRMED: FULLY SYNDICATED           Wachovia                  18                  502857262                 Tim Corrigan
    CONFIRMED: FULLY SYNDICATED           Wachovia                  42                  502857691                 Tim Corrigan
    CONFIRMED: FULLY SYNDICATED           Wachovia                 102                  502857848                paul mcnamara
    CONFIRMED: FULLY SYNDICATED           Wachovia                  67                  502858048                   Gilbert
    CONFIRMED: FULLY SYNDICATED           Wachovia                  90                  502858058                   Jay Suhr
    CONFIRMED: FULLY SYNDICATED           Wachovia                  82                  502858097                   Jay Suhr
    CONFIRMED: FULLY SYNDICATED           Wachovia                 103                  502858092                    Booher

<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
          TIC SYNDICATOR                            Property Name               Cut-Off Date Balance       % of Pool      Group #
------------------------------------------------------------------------------------------------------------------------------------
<S>                                    <C>                                          <C>                       <C>             <C>
               CORE                    AMLI at Riverbend                            $50,000,000.00            1.48%           2
               Cole                    Barry Woods Crossings Shopping Center        $28,275,000.00            0.84%           1
  Passco Real Estate Enterprises       Raveneaux Apartments                         $24,475,000.00            0.73%           2
  Covington Realty Partners, LLC       Lakeland Commons Shopping Center             $25,600,000.00            0.76%           1
                SCI                    Village on University Apartments             $33,150,000.00            0.98%           2
                NNN                    Arbors at Fairview Apartments                $10,500,000.00            0.31%           2
                NNN                    Beechwood Apartments                          $8,625,000.00            0.26%           2
             Guardian                  River Ranch Apartments                       $14,050,000.00            0.42%           2
Resource Real Estate Holdings, Inc.    Heritage Lake at Westland Apartments         $16,185,000.00            0.48%           2
------------------------------------------------------------------------------------------------------------------------------------
    CONFIRMED: FULLY SYNDICATED        Avalon Park Apartments                       $11,000,000.00            0.33%           2
    CONFIRMED: FULLY SYNDICATED        Sono Corporate Center                        $20,000,000.00            0.59%           1
    CONFIRMED: FULLY SYNDICATED        The Crescent at Ballantyne                   $14,450,000.00            0.43%           1
    CONFIRMED: FULLY SYNDICATED        Crossroads Technology Park                   $35,000,000.00            1.04%           1
    CONFIRMED: FULLY SYNDICATED        Cost Plus Plaza                              $17,500,000.00            0.52%           1
    CONFIRMED: FULLY SYNDICATED        Summit Square                                 $6,700,000.00            0.20%           1
    CONFIRMED: FULLY SYNDICATED        Tudor Heights Apartments                     $12,500,000.00            0.37%           2
    CONFIRMED: FULLY SYNDICATED        Heritage Place                                $8,240,000.00            0.24%           1
    CONFIRMED: FULLY SYNDICATED        MAC I and MAC II                              $9,800,000.00            0.29%           1
    CONFIRMED: FULLY SYNDICATED        Parker Crossroads                             $6,650,000.00            0.20%           1

<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
          TIC SYNDICATOR                                       SPONSOR                               Tenants-In-Common (Y/N)?
------------------------------------------------------------------------------------------------------------------------------------
<S>                                    <C>                                                                       <C>
               CORE                                       John R. Saunders                                       Y
               Cole                                  Equity Fund Advisors, Inc.                                  Y
  Passco Real Estate Enterprises               William H. Winn; Passco Companies, LLC                            Y
  Covington Realty Partners, LLC                   Covington Realty Partners, LLC                                Y
                SCI                    SCI Gateway at Tempe Fund LLC and related TIC entities                    Y
                NNN                                  Triple Net Properties, LLC                                  Y
                NNN                                  Triple Net Properties, LLC                                  Y
             Guardian                                  Thomas B. Brenneke, Jr.                                   Y
Resource Real Estate Holdings, Inc.              Resource Real Estate Holdings, Inc.                             Y
------------------------------------------------------------------------------------------------------------------------------------
    CONFIRMED: FULLY SYNDICATED                             Mark Hamilton                                        Y
    CONFIRMED: FULLY SYNDICATED                             Lloyd Amster                                         Y
    CONFIRMED: FULLY SYNDICATED                              John Harris                                         Y
    CONFIRMED: FULLY SYNDICATED        Nearon Enterprises, LLC and Syme Family Partners, L.P.                    Y
    CONFIRMED: FULLY SYNDICATED              Dan M. Perlmutter and Sandra G. Perlmutter                          Y
    CONFIRMED: FULLY SYNDICATED                     NewMark Merrill Companies LLC                                Y
    CONFIRMED: FULLY SYNDICATED         Dean A. Allara; Christian V. Young; Danuel R. Stanger                    Y
    CONFIRMED: FULLY SYNDICATED                            Richard Fownes                                        Y
    CONFIRMED: FULLY SYNDICATED                            Richard Fownes                                        Y
    CONFIRMED: FULLY SYNDICATED                           Michael Buschell                                       Y

<CAPTION>
-------------------------------------------------------------------------------------
          TIC SYNDICATOR              Maximum # of members       Fully Syndicated?
-------------------------------------------------------------------------------------
<S>                                            <C>                      <C>
               CORE                            35                       No
               Cole                            35                       No
  Passco Real Estate Enterprises               35                       No
  Covington Realty Partners, LLC               35                       No
                SCI                            35                       No
                NNN                            35                       No
                NNN                            35                       No
             Guardian                          35                       No
Resource Real Estate Holdings, Inc.            35                       No
-------------------------------------------------------------------------------------
    CONFIRMED: FULLY SYNDICATED                30                       No
    CONFIRMED: FULLY SYNDICATED                 2                       Yes
    CONFIRMED: FULLY SYNDICATED                 3                       Yes
    CONFIRMED: FULLY SYNDICATED                 3                       Yes
    CONFIRMED: FULLY SYNDICATED                 2                       Yes
    CONFIRMED: FULLY SYNDICATED                 4                       Yes
    CONFIRMED: FULLY SYNDICATED                 3                       Yes
    CONFIRMED: FULLY SYNDICATED                 5                       Yes
    CONFIRMED: FULLY SYNDICATED                 5                       Yes
    CONFIRMED: FULLY SYNDICATED                 7                       Yes
</TABLE>

<PAGE>

                                   EXHIBIT AA

                          FORM OF OFFICER'S CERTIFICATE

       Wachovia Bank, National Association
       8739 Research Drive, URP4
       Charlotte, NC 28288-1075
       Phone:  (704) 593-7320
       Fax:  (704) 715-0036

                                                             Wachovia Securities

[Date]

VIA EMAIL AND OVERNIGHT MAIL

[Addressee]

RE:    Depositor:     Wachovia Commercial Mortgage Securities, Inc.
       Pool:          WBCMT 2006-C29
       Borrower:
       Property:
       Control #:
       WB Loan #:
       Current Loan Amount:  $
       Proposed TICs:

                            O F F I C E R' S   C E R T I F I C A T E

Dear [____________]:

               Wachovia Bank, National Association ("WB"), is the Master
Servicer on behalf of Wells Fargo Bank, N.A., as Trustee, in trust for the
Holders of Wachovia Bank Commercial Mortgage Trust, Commercial Mortgage
Pass-Through Certificates, Series 2006-C29.

               Borrower has submitted for lender approval information pertaining
to the proposed transfer of Tenant in Common interests per Section [______] of
the Mortgage and Security Agreement dated [________]. In accordance with our
responsibilities as dictated by Section 3.08(a)(ii) of the Pooling and Servicing
Agreement dated December 1, 2006, WB has conducted its review and determined
that the proposed transfer meets the applicable requirements of Exhibit Z. The
results of our analysis can be found on the attached spreadsheet and the
supporting documents have been provided for your review. Accordingly, we are
recommending approval of the proposed transaction.

Sincerely,

Wachovia Bank, NA
Master Servicer

_____________________
Diana C. Stewart
Vice President

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

                                        TIC Consent
                                  Original Borrower
                                             Loan #
                                        Current UPB
                                              TIC #
                                       Proposed TIC
                                     Purchase Price
                                          Net Worth
                                     TIC % Interest

                                  Requirements
                                  ------------

1.  Timing & Notice Requirement

2.  Approval of New Borrower

3.  Accredited Investor

4.  Sponsor control requirement

5.  New Borrower Debt Liability

6.  New Guarantor Requirement

7.  Sponsor Release on Guaranty

8. General Pre-Conditions

9.  Total Borrowers permitted

10.  Required Closing Docs

11.  Required Opinions

12.  Application/Assumption Fees
      Application Fee
      Assumption Fee

13.  MS/SS Assumption Fee Arrangement
      MS portion of Assumption Fee
      SS portion of Assumption Fee

12.  SPE Requirement

13.  Title Date-Down Endorsement

14.  Insurance Endorsements

                     Attached

                        Purchase and Sale Agreement
                            Purchaser Questionnaire
                               Lender Questionnaire
      Lender Minimum Qualifications Acknowledgement
                             Statement of Net Worth
                                       Credit Check
                      Company/LLC/Trust Information
                               Settlement Statement
                Transfer Deed/Membership Assignment
                  Partial Loan Assumption Agreement
                            TIC Indemnity Agreement
                                               UCCs
                                  Required Opinions

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00115-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00115-of-00352.parquet"}]]