Document:

Exhibit 10.1

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             J.P. MORGAN CHASE COMMERCIAL MORTGAGE SECURITIES CORP.,

                                    PURCHASER

                           JPMORGAN CHASE BANK, N.A.,

                                     SELLER

                        MORTGAGE LOAN PURCHASE AGREEMENT

                          Dated as of September 1, 2006

                            Fixed Rate Mortgage Loans

                                Series 2006-LDP8

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            This Mortgage Loan Purchase Agreement (this "Agreement"), dated as
of September 1, 2006, is between J.P. Morgan Chase Commercial Mortgage
Securities Corp., as purchaser (the "Purchaser"), and JPMorgan Chase Bank, N.A.,
as seller (the "Seller").

            Capitalized terms used in this Agreement not defined herein shall
have the meanings ascribed to them in the Pooling and Servicing Agreement dated
as of September 1, 2006 (the "Pooling and Servicing Agreement") among the
Purchaser, as depositor (the "Depositor"), Wells Fargo Bank N.A. and Midland
Loan Services, Inc., as master servicers (each, a "Master Servicer"), J.E.
Robert Company, Inc., as special servicer (the "Special Servicer"), and LaSalle
Bank National Association, as trustee (the "Trustee"), pursuant to which the
Purchaser will sell the Mortgage Loans (as defined herein) to a trust fund and
certificates representing ownership interests in the Mortgage Loans will be
issued by the trust fund. For purposes of this Agreement, the term "Mortgage
Loans" refers to the mortgage loans listed on Exhibit A and the term "Mortgaged
Properties" refers to the properties securing such Mortgage Loans.

            The Purchaser and the Seller wish to prescribe the manner of sale of
the Mortgage Loans from the Seller to the Purchaser and in consideration of the
premises and the mutual agreements hereinafter set forth, agree as follows:

            SECTION 1. Sale and Conveyance of Mortgages; Possession of Mortgage
File. Effective as of the Closing Date and upon receipt of the purchase price
set forth in the immediately succeeding paragraph, the Seller does hereby sell,
transfer, assign, set over and convey to the Purchaser, without recourse
(subject to certain agreements regarding servicing as provided in the Pooling
and Servicing Agreement, subservicing agreements permitted thereunder and that
certain Servicing Rights Purchase Agreement, dated as of the Closing Date
between the applicable Master Servicer and the Seller) all of its right, title,
and interest in and to the Mortgage Loans including all interest and principal
received on or with respect to the Mortgage Loans after the Cut-off Date (other
than payments of principal and interest first due on the Mortgage Loans on or
before the Cut-off Date). Upon the sale of the Mortgage Loans, the ownership of
each related Mortgage Note, the Mortgage and the other contents of the related
Mortgage File will be vested in the Purchaser and immediately thereafter the
Trustee and the ownership of records and documents with respect to the related
Mortgage Loan prepared by or which come into the possession of the Seller (other
than the records and documents described in the proviso to Section 3(a) hereof)
shall immediately vest in the Purchaser and immediately thereafter the Trustee.
The Seller's records will accurately reflect the sale of each Mortgage Loan to
the Purchaser. On the Closing Date, the Seller shall also deliver to the
Depositor an amount equal to $229,910.41, which amount represents the aggregate
amount of interest that would have accrued at the related Net Mortgage Rates on
the applicable Mortgage Loans commencing September 1, 2006 for those Mortgage
Loans that do not have a Due Date in October 2006 and/or November 2006. The
Depositor will sell the Class A-1, Class A-2, Class A-3A, Class A-3FL, Class
A-3B, Class A-4, Class A-SB, Class A-1A, Class X, Class A-M, Class A-J, Class B,
Class C and Class D Certificates (the "Offered Certificates") to the
underwriters (the "Underwriters") specified in the underwriting agreement dated
September 22, 2006 (the "Underwriting Agreement") between the Depositor and J.P.
Morgan Securities Inc. ("JPMSI") for itself and as representative of the several
underwriters identified therein, and the Depositor will sell the Class E, Class
F Class G, Class H, Class J, Class K, Class L, Class M, Class N, Class P and
Class NR Certificates (the "Private Certificates") to JPMSI, the initial
purchaser (together with the Underwriters, the "Dealers") specified in the
certificate purchase agreement dated September 22, 2006 (the "Certificate
Purchase Agreement"), between the Depositor and JPMSI for itself and as
representative of the initial purchasers identified therein.

            The sale and conveyance of the Mortgage Loans is being conducted on
an arms length basis and upon commercially reasonable terms. As the purchase
price for the Mortgage Loans, the Purchaser shall pay to the Seller or at the
Seller's direction in immediately available funds the sum of $1,298,299,844.01
(which amount is inclusive of accrued interest and exclusive of the Seller's pro
rata share of the costs set forth in Section 9 hereof). The purchase and sale of
the Mortgage Loans shall take place on the Closing Date.

            SECTION 2. Books and Records; Certain Funds Received After the
Cut-off Date. From and after the sale of the Mortgage Loans to the Purchaser,
record title to each Mortgage and the related Mortgage Note shall be transferred
to the Trustee in accordance with this Agreement. Any funds due after the
Cut-off Date in connection with a Mortgage Loan received by the Seller shall be
held in trust for the benefit of the Trustee as the owner of such Mortgage Loan
and shall be transferred promptly to the applicable Master Servicer. All
scheduled payments of principal and interest due on or before the Cut-off Date
but collected after the Cut-off Date, and recoveries of principal and interest
collected on or before the Cut-off Date (only in respect of principal and
interest on the Mortgage Loans due on or before the Cut-off Date and principal
prepayments thereon), shall belong to, and shall be promptly remitted to, the
Seller.

            The transfer of each Mortgage Loan shall be reflected on the
Seller's balance sheets and other financial statements as a sale of the Mortgage
Loans by the Seller to the Purchaser. The Seller intends to treat the transfer
of each Mortgage Loan to the Purchaser as a sale for tax purposes.

            The transfer of each Mortgage Loan shall be reflected on the
Purchaser's balance sheets and other financial statements as a purchase of the
Mortgage Loans by the Purchaser from the Seller. The Purchaser intends to treat
the transfer of each Mortgage Loan from the Seller as a purchase for tax
purposes.

            SECTION 3. Delivery of Mortgage Loan Documents; Additional Costs and
Expenses. (a) The Purchaser hereby directs the Seller, and the Seller hereby
agrees, upon the transfer of the Mortgage Loans contemplated herein, to deliver
on the Closing Date to the Trustee or a Custodian appointed thereby, all
documents, instruments and agreements required to be delivered by the Purchaser
to the Trustee with respect to the Mortgage Loans under Sections 2.01(b) and
2.01(c) of the Pooling and Servicing Agreement, and meeting all the requirements
of such Sections 2.01(b) and 2.01(c), and such other documents, instruments and
agreements as the Purchaser or the Trustee shall reasonably request. In
addition, the Seller agrees to deliver or cause to be delivered to the
applicable Master Servicer, the Servicing File for each Mortgage Loan
transferred pursuant to this Agreement; provided that the Seller shall not be
required to deliver any draft documents, or any attorney client communications
which are privileged communications or constitute legal or other due diligence
analyses, or internal communications of the Seller or its affiliates, or credit
underwriting or other analyses or data.

            (b) With respect to the transfer described in Section 1 hereof, if
the Mortgage Loan documents do not require the related Mortgagor to pay any
costs and expenses relating to any modifications to a related letter of credit
which modifications are required to effectuate such transfer (the "Transfer
Modification Costs"), then the Seller shall pay the Transfer Modification Costs
required to transfer the letter of credit to the Trustee as described in such
Section 1; provided that if the Mortgage Loan documents require the related
Mortgagor to pay any Transfer Modification Costs, such Transfer Modification
Costs shall be an expense of the Mortgagor unless such Mortgagor fails to pay
such Transfer Modification Costs after the applicable Master Servicer has
exercised all remedies available under the applicable Mortgage Loan documents to
collect such Transfer Modification Costs from such Mortgagor, in which case the
applicable Master Servicer shall give the Seller notice of such failure and the
amount of such Transfer Modification costs and the Seller shall pay such
Transfer Modification Costs.

            SECTION 4. Treatment as a Security Agreement. The Seller,
concurrently with the execution and delivery hereof, has conveyed to the
Purchaser, all of its right, title and interest in and to the Mortgage Loans.
The parties intend that such conveyance of the Seller's right, title and
interest in and to the Mortgage Loans pursuant to this Agreement shall
constitute a purchase and sale and not a loan. If such conveyance is deemed to
be a pledge and not a sale, then the parties also intend and agree that the
Seller shall be deemed to have granted, and in such event does hereby grant, to
the Purchaser, a first priority security interest in all of its right, title and
interest in, to and under the Mortgage Loans, all payments of principal or
interest on such Mortgage Loans due after the Cut-off Date, all other payments
made in respect of such Mortgage Loans after the Cut-off Date (except to the
extent such payments were due on or before the Cut-off Date) and all proceeds
thereof and that this Agreement shall constitute a security agreement under
applicable law. If such conveyance is deemed to be a pledge and not a sale, the
Seller consents to the Purchaser hypothecating and transferring such security
interest in favor of the Trustee and transferring the obligation secured thereby
to the Trustee.

            SECTION 5. Covenants of the Seller. The Seller covenants with the
Purchaser as follows:

            (a) it shall record or cause a third party to record in the
appropriate public recording office for real property the intermediate
assignments of the Mortgage Loans and the Assignments of Mortgage from the
Seller to the Trustee in connection with the Pooling and Servicing Agreement.
All recording fees relating to the initial recordation of such intermediate
assignments and Assignments of Mortgage shall be paid by the Seller;

            (b) it shall take any action reasonably required by the Purchaser,
the Trustee or the applicable Master Servicer, in order to assist and facilitate
in the transfer of the servicing of the Mortgage Loans to the applicable Master
Servicer, including effectuating the transfer of any letters of credit with
respect to any Mortgage Loan to the Trustee (in care of the applicable Master
Servicer) for the benefit of Certificateholders. Prior to the date that a letter
of credit, if any, with respect to any Mortgage Loan is transferred to the
Trustee (in care of the applicable Master Servicer), the Seller will cooperate
with the reasonable requests of the applicable Master Servicer or Special
Servicer, as applicable, in connection with effectuating a draw under such
letter of credit as required under the terms of the related Mortgage Loan
documents;

            (c) if, during such period of time after the first date of the
public offering of the Offered Certificates as in the opinion of counsel for the
Underwriters, a prospectus relating to the Offered Certificates is required by
applicable law to be delivered in connection with sales thereof by an
Underwriter or a Dealer, any event shall occur as a result of which it is
necessary to amend or supplement the Prospectus Supplement, including Annexes
A-1, A-2, A-3 and B thereto and the Diskette included therewith, with respect to
any information relating to the Mortgage Loans or the Seller, in order to make
the statements therein, in the light of the circumstances when the Prospectus
Supplement is delivered to a purchaser, not misleading, or if it is necessary to
amend or supplement the Prospectus Supplement, including Annexes A-1, A-2, A-3
and B thereto and the Diskette included therewith, with respect to any
information relating to the Mortgage Loans or the Seller, to comply with
applicable law, the Seller shall do all things necessary to assist the Depositor
to prepare and furnish, at the expense of the Seller (to the extent that such
amendment or supplement relates to the Seller, the Mortgage Loans listed on
Exhibit A and/or any information relating to the same, as provided by the
Seller), to the Underwriters such amendments or supplements to the Prospectus
Supplement as may be necessary, so that the statements in the Prospectus
Supplement as so amended or supplemented, including Annexes A-1, A-2, A-3 and B
thereto and the Diskette included therewith, with respect to any information
relating to the Mortgage Loans or the Seller, will not, in the light of the
circumstances when the Prospectus is so amended or supplemented, be misleading
or so that the Prospectus Supplement, including Annexes A-1, A-2, A-3 and B
thereto and the Diskette included therewith, with respect to any information
relating to the Mortgage Loans or the Seller, will comply with applicable law.
All terms used in this clause (c) and not otherwise defined herein shall have
the meaning set forth in the Indemnification Agreement, dated as of September
22, 2006 between the Purchaser and the Seller (the "Indemnification Agreement");
and

            (d) for so long as the Trust is subject to the reporting
requirements of the Exchange Act, the Seller shall provide the Purchaser (or
with respect to any Companion Loan related to a Serviced Whole Loan or any
Serviced Securitized Companion Loan that is deposited into an Other
Securitization or a Regulation AB Companion Loan Securitization, the depositor
in such Other Securitization or Regulation AB Companion Loan Securitization) and
the Trustee with any Additional Form 10-D Disclosure and any Additional Form
10-K Disclosure set forth next to the Purchaser's name on Exhibit X and Exhibit
Y of the Pooling and Servicing Agreement within the time periods set forth in
the Pooling and Servicing Agreement.

            SECTION 6. Representations and Warranties.

            (a) The Seller represents and warrants to the Purchaser as of the
Closing Date that:

            (i) it is a national banking association, duly organized, validly
      existing, and in good standing under the laws of the United States;

            (ii) it has the power and authority to own its property and to carry
      on its business as now conducted;

            (iii) it has the power to execute, deliver and perform this
      Agreement;

            (iv) it is legally authorized to transact business in the State of
      New York. The Seller is in compliance with the laws of each state in which
      any Mortgaged Property is located to the extent necessary so that a
      subsequent holder of the related Mortgage Loan (including, without
      limitation, the Purchaser) that is in compliance with the laws of such
      state would not be prohibited from enforcing such Mortgage Loan solely by
      reason of any non-compliance by the Seller;

            (v) the execution, delivery and performance of this Agreement by the
      Seller have been duly authorized by all requisite action by the Seller's
      board of directors and will not violate or breach any provision of its
      organizational documents;

            (vi) this Agreement has been duly executed and delivered by the
      Seller and constitutes a legal, valid and binding obligation of the
      Seller, enforceable against it in accordance with its terms (except as
      enforcement thereof may be limited by bankruptcy, receivership,
      conservatorship, reorganization, insolvency, moratorium or other laws
      affecting the enforcement of creditors' rights generally and by general
      equitable principles regardless of whether enforcement is considered in a
      proceeding in equity or at law);

            (vii) there are no legal or governmental proceedings pending to
      which the Seller is a party or of which any property of the Seller is the
      subject which, if determined adversely to the Seller, would reasonably be
      expected to adversely affect (A) the transfer of the Mortgage Loans and
      the Mortgage Loan documents as contemplated herein, (B) the execution and
      delivery by the Seller or enforceability against the Seller of the
      Mortgage Loans or this Agreement, or (C) the performance of the Seller's
      obligations hereunder;

            (viii) it has no actual knowledge that any statement, report,
      officer's certificate or other document prepared and furnished or to be
      furnished by the Seller in connection with the transactions contemplated
      hereby (including, without limitation, any financial cash flow models and
      underwriting file abstracts furnished by the Seller) contains any untrue
      statement of a material fact or omits to state a material fact necessary
      in order to make the statements contained therein, in the light of the
      circumstances under which they were made, not misleading;

            (ix) it is not, nor with the giving of notice or lapse of time or
      both would be, in violation of or in default under any indenture,
      mortgage, deed of trust, loan agreement or other agreement or instrument
      to which it is a party or by which it or any of its properties is bound,
      except for violations and defaults which individually and in the aggregate
      would not have a material adverse effect on the transactions contemplated
      herein; the sale of the Mortgage Loans and the performance by the Seller
      of all of its obligations under this Agreement and the consummation by the
      Seller of the transactions herein contemplated do not conflict with or
      result in a breach of any of the terms or provisions of, or constitute a
      default under, any material indenture, mortgage, deed of trust, loan
      agreement or other agreement or instrument to which the Seller is a party
      or by which the Seller is bound or to which any of the property or assets
      of the Seller is subject, nor will any such action result in any violation
      of the provisions of any applicable law or statute or any order, rule or
      regulation of any court or governmental agency or body having jurisdiction
      over the Seller, or any of its properties, except for conflicts, breaches,
      defaults and violations which individually and in the aggregate would not
      have a material adverse effect on the transactions contemplated herein;
      and no consent, approval, authorization, order, license, registration or
      qualification of or with any such court or governmental agency or body is
      required for the consummation by the Seller of the transactions
      contemplated by this Agreement, other than any consent, approval,
      authorization, order, license, registration or qualification that has been
      obtained or made;

            (x) it has either (A) not dealt with any Person (other than the
      Purchaser or the Dealers or their respective affiliates or any servicer of
      a Mortgage Loan) that may be entitled to any commission or compensation in
      connection with the sale or purchase of the Mortgage Loans or entering
      into this Agreement or (B) paid in full any such commission or
      compensation (except with respect to any servicer of a Mortgage Loan, any
      commission or compensation that may be due and payable to such servicer if
      such servicer is terminated and does not continue to act as a servicer);
      and

            (xi) it is solvent and the sale of the Mortgage Loans hereunder will
      not cause it to become insolvent; and the sale of the Mortgage Loans is
      not undertaken with the intent to hinder, delay or defraud any of the
      Seller's creditors.

            (b) The Purchaser represents and warrants to the Seller as of the
Closing Date that:

            (i) it is a corporation duly organized, validly existing, and in
      good standing in the State of Delaware;

            (ii) it is duly qualified as a foreign corporation in good standing
      in all jurisdictions in which ownership or lease of its property or the
      conduct of its business requires such qualification, except where the
      failure to be so qualified would not have a material adverse effect on the
      Purchaser, and the Purchaser is conducting its business so as to comply in
      all material respects with the applicable statutes, ordinances, rules and
      regulations of each jurisdiction in which it is conducting business;

            (iii) it has the power and authority to own its property and to
      carry on its business as now conducted;

            (iv) it has the power to execute, deliver and perform this
      Agreement, and neither the execution and delivery by the Purchaser of this
      Agreement, nor the consummation by the Purchaser of the transactions
      herein contemplated, nor the compliance by the Purchaser with the
      provisions hereof, will (A) conflict with or result in a breach of, or
      constitute a default under, any of the provisions of the certificate of
      incorporation or by-laws of the Purchaser or any of the provisions of any
      law, governmental rule, regulation, judgment, decree or order binding on
      the Purchaser or any of its properties, or any indenture, mortgage,
      contract or other instrument or agreement to which the Purchaser is a
      party or by which it is bound, or (B) result in the creation or imposition
      of any lien, charge or encumbrance upon any of the Purchaser's property
      pursuant to the terms of any such indenture, mortgage, contract or other
      instrument or agreement;

            (v) this Agreement constitutes a legal, valid and binding obligation
      of the Purchaser enforceable against it in accordance with its terms
      (except as enforcement thereof may be limited by (a) bankruptcy,
      receivership, conservatorship, reorganization, insolvency, moratorium or
      other laws affecting the enforcement of creditors' rights generally and
      (b) general equitable principles (regardless of whether enforcement is
      considered in a proceeding in equity or law));

            (vi) there are no legal or governmental proceedings pending to which
      the Purchaser is a party or of which any property of the Purchaser is the
      subject which, if determined adversely to the Purchaser, might interfere
      with or adversely affect the consummation of the transactions contemplated
      herein and in the Pooling and Servicing Agreement; to the best of the
      Purchaser's knowledge, no such proceedings are threatened or contemplated
      by any governmental authorities or threatened by others;

            (vii) it is not in default with respect to any order or decree of
      any court or any order, regulation or demand of any federal, state
      municipal or governmental agency, which default might have consequences
      that would materially and adversely affect the condition (financial or
      other) or operations of the Purchaser or its properties or might have
      consequences that would materially and adversely affect its performance
      hereunder;

            (viii) it has not dealt with any broker, investment banker, agent or
      other person, other than the Seller, the Dealers and their respective
      affiliates, that may be entitled to any commission or compensation in
      connection with the purchase and sale of the Mortgage Loans or the
      consummation of any of the transactions contemplated hereby;

            (ix) all consents, approvals, authorizations, orders or filings of
      or with any court or governmental agency or body, if any, required for the
      execution, delivery and performance of this Agreement by the Purchaser
      have been obtained or made; and

            (x) it has not intentionally violated any provisions of the United
      States Secrecy Act, the United States Money Laundering Control Act of 1986
      or the United States International Money Laundering Abatement and
      Anti-Terrorism Financing Act of 2001.

            (c) The Seller further makes the representations and warranties as
to the Mortgage Loans set forth in Exhibit B as of the Closing Date (or as of
such other date if specifically provided in the particular representation or
warranty), which representations and warranties are subject to the exceptions
thereto set forth in Exhibit C. Neither the delivery by the Seller of the
Mortgage Files, Servicing Files, or any other documents required to be delivered
under Section 2.01 of the Pooling and Servicing Agreement, nor the review
thereof or any other due diligence by the Trustee, any Master Servicer, the
Special Servicer, a Certificate Owner or any other Person shall relieve the
Seller of any liability or obligation with respect to any representation or
warranty or otherwise under this Agreement or constitute notice to any Person of
a Breach or Defect.

            (d) Pursuant to this Agreement or Section 2.03(b) of the Pooling and
Servicing Agreement, the Seller and the Purchaser shall be given notice of any
Breach or Defect that materially and adversely affects the value of any Mortgage
Loan, the value of the related Mortgaged Property or the interests of the
Trustee or any Certificateholder therein.

            (e) Upon notice pursuant to Section 6(d) above, the Seller shall,
not later than 90 days from the earlier of the Seller's receipt of the notice
or, in the case of a Defect or Breach relating to a Mortgage Loan not being a
"qualified mortgage" within the meaning of Section 860G(a)(3) of the Code, but
without regard to the rule of Treasury Regulation Section 1.860G-2(f)(2) that
causes a defective mortgage loan to be treated as a qualified mortgage, the
Seller's discovery of such Breach or Defect (the "Initial Resolution Period"),
(i) cure such Defect or Breach, as the case may be, in all material respects,
(ii) repurchase the affected Mortgage Loan at the applicable Repurchase Price
(as defined below) or (iii) substitute a Qualified Substitute Mortgage Loan (as
defined below) for such affected Mortgage Loan (provided that in no event shall
any such substitution occur later than the second anniversary of the Closing
Date) and pay the applicable Master Servicer for deposit into the Certificate
Account, any Substitution Shortfall Amount (as defined below) in connection
therewith; provided, however, that except with respect to a Defect resulting
solely from the failure by the Seller to deliver to the Trustee or Custodian the
actual policy of lender's title insurance required pursuant to clause (ix) of
the definition of Mortgage File by a date not later than 18 months following the
Closing Date, if such Breach or Defect is capable of being cured but is not
cured within the Initial Resolution Period, and the Seller has commenced and is
diligently proceeding with the cure of such Breach or Defect within the Initial
Resolution Period, the Seller shall have an additional 90 days commencing
immediately upon the expiration of the Initial Resolution Period (the "Extended
Resolution Period") to complete such cure (or, failing such cure, to repurchase
the related Mortgage Loan or substitute a Qualified Substitute Mortgage Loan as
described above); and provided, further, that with respect to the Extended
Resolution Period the Seller shall have delivered an officer's certificate to
the Rating Agencies, the applicable Master Servicer, the Special Servicer, the
Trustee and the Directing Certificateholder setting forth the reason such Breach
or Defect is not capable of being cured within the Initial Resolution Period and
what actions the Seller is pursuing in connection with the cure thereof and
stating that the Seller anticipates that such Breach or Defect will be cured
within the Extended Resolution Period. Notwithstanding the foregoing, any Defect
or Breach which causes any Mortgage Loan not to be a "qualified mortgage"
(within the meaning of Section 860G(a)(3) of the Code, without regard to the
rule of Treasury Regulations Section 1.860G-2(f)(2) which causes a defective
mortgage loan to be treated as a qualified mortgage) shall be deemed to
materially and adversely affect the interests of the holders of the Certificates
therein, and such Mortgage Loan shall be repurchased or a Qualified Substitute
Mortgage Loan substituted in lieu thereof without regard to the extended cure
period described in the preceding sentence. If the affected Mortgage Loan is to
be repurchased, the Seller shall remit the Repurchase Price (defined below) in
immediately available funds to the Trustee.

            If any Breach pertains to a representation or warranty that the
related 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), then
Seller shall cure such Breach within the applicable cure period (as the same may
be extended) by reimbursing the Trust Fund (by wire transfer of immediately
available funds) the reasonable amount of any such costs and expenses incurred
by the applicable Master Servicer, the Special Servicer, the Trustee or the
Trust Fund that are the basis of such Breach and have not been reimbursed by the
related Mortgagor; provided, however, that in the event any such costs and
expenses exceed $10,000, the Seller shall have the option to either repurchase
or substitute for the related Mortgage Loan as provided above or pay such costs
and expenses. Except as provided in the proviso to the immediately preceding
sentence, the Seller shall remit the amount of such costs and expenses and upon
its making such remittance, the Seller shall be deemed to have cured such Breach
in all respects. To the extent any fees or expenses that are the subject of a
cure by the Seller are subsequently obtained from the related Mortgagor, the
portion of the cure payment equal to such fees or expenses obtained from the
Mortgagor shall be returned to the Seller pursuant to Section 2.03(f) of the
Pooling and Servicing Agreement. Notwithstanding the foregoing, the sole remedy
with respect to any breach of the representation set forth in the second to last
sentence of clause (32) of Exhibit B hereto shall be payment by the Seller of
such costs and expenses without respect to the materiality of such breach.

            Any of the following will cause a document in the Mortgage File to
be deemed to have a Defect and to be conclusively presumed to materially and
adversely affect the interests of Certificateholders in a Mortgage Loan and to
be deemed to materially and adversely affect the interests of the
Certificateholders in and the value of a Mortgage Loan: (a) the absence from the
Mortgage File of the original signed Mortgage Note, unless the Mortgage File
contains a signed lost note affidavit and indemnity with a copy of the Mortgage
Note that appears to be regular on its face; (b) the absence from the Mortgage
File of the original signed Mortgage that appears to be regular on its face,
unless there is included in the Mortgage File a certified copy of the Mortgage
and a certificate stating that the original signed Mortgage was sent for
recordation; (c) the absence from the Mortgage File of the lender's title
insurance policy (or if the policy has not yet been issued, an original or copy
of a "marked up" written commitment or the pro-forma or specimen title insurance
policy or a commitment to issue the same pursuant to written escrow instructions
signed by the title insurance company) called for by clause (ix) of the
definition of "Mortgage File" in the Pooling and Servicing Agreement; (d) the
absence from the Mortgage File of any required letter of credit; (e) with
respect to any leasehold mortgage loan, the absence from the related Mortgage
File of a copy (or an original, if available) of the related Ground Lease; or
(f) the absence from the Mortgage File of any intervening assignments required
to create a complete chain of assignments to the Trustee on behalf of the Trust,
unless there is included in the Mortgage File a certified copy of the
intervening assignment and a certificate stating that the original intervening
assignments were sent for recordation; provided, however, that no Defect (except
the Defects previously described in clauses (a) through (f)) shall be considered
to materially and adversely affect the value of any Mortgage Loan, the value of
the related Mortgaged Property or the interests of the Trustee or any
Certificateholder therein unless the document with respect to which the 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 borrower 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 obligation. Notwithstanding the
foregoing, the delivery of executed escrow instructions or a commitment to issue
a lender's title insurance policy, as provided in clause (ix) of the definition
of "Mortgage File" in the Pooling and Servicing Agreement, in lieu of the
delivery of the actual policy of lender's title insurance, shall not be
considered a Defect or Breach with respect to any Mortgage File if such actual
policy is delivered to the Trustee or its Custodian within 18 months after the
Closing Date.

            If (i) any Mortgage Loan is required to be repurchased or
substituted for in the manner described in the first paragraph of this Section
6(e), (ii) such Mortgage Loan is a Crossed Loan, and (iii) the applicable Defect
or Breach does not constitute a 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 Defect or Breach, as the case may be, will be deemed to
constitute a Defect or Breach, as the case may be, as to each other Crossed Loan
in the Crossed Group for purposes of this paragraph, and the Seller will be
required to repurchase or substitute for all of the remaining Crossed Loans in
the related Crossed Group as provided in the first paragraph of this Section
6(e) unless such other Crossed Loans in such Crossed Group satisfy the Crossed
Loan Repurchase Criteria, and the Mortgage Loan affected by the applicable
Defect or Breach and the Qualified Substitute Mortgage Loan, if any, satisfy all
other criteria for repurchase or substitution, as applicable, of Mortgage Loans
set forth herein. In the event that the remaining Crossed Loans satisfy the
aforementioned criteria, the Seller may elect either to repurchase or substitute
for only the affected Crossed Loan as to which the related Breach or Defect
exists or to repurchase or substitute for all of the Crossed Loans in the
related Crossed Group. The Seller shall be responsible for the cost of any
Appraisal required to be obtained by the applicable Master Servicer to determine
if the Crossed Loan Repurchase Criteria have been satisfied, so long as the
scope and cost of such Appraisal has been approved by the Seller (such approval
not to be unreasonably withheld).

            To the extent that the Seller is required to repurchase or
substitute for a Crossed Loan hereunder in the manner prescribed above while the
Trustee continues to hold any other Crossed Loans in such Crossed Group, neither
the Seller nor the Trustee shall enforce any remedies against the other's
Primary Collateral, but each is permitted to exercise remedies against the
Primary Collateral securing its respective Crossed Loans, including with respect
to the Trustee, the Primary Collateral securing Crossed Loans still held by the
Trustee.

            If the exercise of remedies by one party would materially impair the
ability of the other party to exercise its remedies with respect to the Primary
Collateral securing the Crossed Loans held by such party, then the Seller and
the Trustee shall forbear from exercising such remedies until the Mortgage Loan
documents evidencing and securing the relevant Crossed Loans can be modified in
a manner that removes the threat of material impairment as a result of the
exercise of remedies or some other accommodation can be reached. Any reserve or
other cash collateral or letters of credit securing the Crossed Loans shall be
allocated between such Crossed Loans in accordance with the Mortgage Loan
documents, or otherwise on a pro rata basis based upon their outstanding Stated
Principal Balances. Notwithstanding the foregoing, if a Crossed Loan that
remains in the Trust Fund is modified to terminate the related cross
collateralization and/or cross default provisions, as a condition to such
modification, the Seller shall furnish to the Trustee an Opinion of Counsel that
any modification shall not cause an Adverse REMIC Event. Any expenses incurred
by the Purchaser in connection with such modification or accommodation
(including but not limited to recoverable attorney fees) shall be paid by the
Seller.

            The "Repurchase Price" with respect to any Mortgage Loan or REO Loan
to be repurchased pursuant to this Agreement and Section 2.03 of the Pooling and
Servicing Agreement, shall have the meaning given to the term "Purchase Price"
in the Pooling and Servicing Agreement.

            A "Qualified Substitute Mortgage Loan" with respect to any Mortgage
Loan or REO Loan to be substituted pursuant to this Agreement and Section 2.03
of the Pooling and Servicing Agreement, shall have the meaning given to such
term in the Pooling and Servicing Agreement.

            A "Substitution Shortfall Amount" with respect to any Mortgage Loan
or REO Loan to be substituted pursuant to this Agreement and Section 2.03 of the
Pooling and Servicing Agreement, shall have the meaning given to such term in
the Pooling and Servicing Agreement.

            In connection with any repurchase or substitution of one or more
Mortgage Loans contemplated hereby, (i) the Purchaser shall execute and deliver,
or cause the execution and delivery of, such endorsements and assignments,
without recourse, as shall be necessary to vest in the Seller the legal and
beneficial ownership of each repurchased Mortgage Loan or replaced Mortgage
Loan, as applicable, (ii) the Purchaser shall deliver, or cause the delivery, to
the Seller of all portions of the Mortgage File and other documents (including
the Servicing File) pertaining to such Mortgage Loan possessed by the Trustee,
or on the Trustee's behalf, and (iii) the Purchaser shall release, or cause to
be released, to the Seller any escrow payments and reserve funds held by the
Trustee, or on the Trustee's behalf, in respect of such repurchased or replaced
Mortgage Loans.

            (f) The representations and warranties of the parties hereto shall
survive the execution and delivery and any termination of this Agreement and
shall inure to the benefit of the respective parties, notwithstanding any
restrictive or qualified endorsement on the Mortgage Notes or Assignment of
Mortgage or the examination of the Mortgage Files.

            (g) Each party hereby agrees to promptly notify the other party of
any Breach of a representation or warranty contained in this Section 6. The
Seller's obligation to cure any Breach or Defect or repurchase or substitute for
the affected Mortgage Loan pursuant to Section 6(e) herein shall constitute the
sole remedy available to the Purchaser in connection with a Breach or Defect
(subject to the last sentence of the second paragraph of Section 6(e)). It is
acknowledged and agreed that the representations and warranties are being made
for risk allocation purposes only; provided, however, that no limitation of
remedy is implied with respect to the Seller's breach of its obligation to cure,
repurchase or substitute in accordance with the terms and conditions of this
Agreement.

            SECTION 7. Conditions to Closing. The obligations of the Purchaser
to purchase the Mortgage Loans shall be subject to the satisfaction, on or prior
to the Closing Date, of the following conditions:

            (a) Each of the obligations of the Seller required to be performed
by it at or prior to the Closing Date pursuant to the terms of this Agreement
shall have been duly performed and complied with and all of the representations
and warranties of the Seller under this Agreement shall be true and correct in
all material respects as of the Closing Date, and no event shall have occurred
as of the Closing Date which, with notice or passage of time, would constitute a
default under this Agreement, and the Purchaser shall have received a
certificate to the foregoing effect signed by an authorized officer of the
Seller substantially in the form of Exhibit D.

            (b) The Purchaser shall have received the following additional
closing documents:

            (i) copies of the Seller's articles of association and by-laws,
      certified as of a recent date by the Secretary or Assistant Secretary of
      the Seller;

            (ii) an original or copy of a certificate of corporate existence of
      the Seller issued by the Comptroller of the Currency dated not earlier
      than sixty days prior to the Closing Date;

            (iii) an opinion of counsel of the Seller, in form and substance
      satisfactory to the Purchaser and its counsel, substantially to the effect
      that:

                  (A) the Seller is a national banking association, duly
            organized, validly existing, and in good standing under the laws of
            the United States;

                  (B) the Seller has the power to conduct its business as now
            conducted and to incur and perform its obligations under this
            Agreement and the Indemnification Agreement;

                  (C) all necessary corporate or other action has been taken by
            the Seller to authorize the execution, delivery and performance of
            this Agreement and the Indemnification Agreement by the Seller and
            this Agreement is a legal, valid and binding agreement of the Seller
            enforceable against the Seller, whether such enforcement is sought
            in a procedure at law or in equity, except to the extent such
            enforcement may be limited by bankruptcy or other similar creditors'
            laws or principles of equity and public policy considerations
            underlying the securities laws, to the extent that such public
            policy considerations limit the enforceability of the provisions of
            the Agreement which purport to provide indemnification with respect
            to securities law violations;

                  (D) the Seller's execution and delivery of, and the Seller's
            performance of its obligations under, each of this Agreement and the
            Indemnification Agreement do not and will not conflict with the
            Seller's articles of association or by-laws or conflict with or
            result in the breach of any of the terms or provisions of, or
            constitute a default under, any indenture, mortgage, deed of trust,
            loan agreement or other material agreement or instrument to which
            the Seller is a party or by which the Seller is bound, or to which
            any of the property or assets of the Seller is subject or violate
            any provisions of law or conflict with or result in the breach of
            any order of any court or any governmental body binding on the
            Seller;

                  (E) there is no litigation, arbitration or mediation pending
            before any court, arbitrator, mediator or administrative body, or to
            such counsel's actual knowledge, threatened, against the Seller
            which (i) questions, directly or indirectly, the validity or
            enforceability of this Agreement or the Indemnification Agreement or
            (ii) would, if decided adversely to the Seller, either individually
            or in the aggregate, reasonably be expected to have a material
            adverse effect on the ability of the Seller to perform its
            obligations under this Agreement or the Indemnification Agreement;
            and

                  (F) no consent, approval, authorization, order, license,
            registration or qualification of or with federal court or
            governmental agency or body is required for the consummation by the
            Seller of the transactions contemplated by this Agreement and the
            Indemnification Agreement, except such consents, approvals,
            authorizations, orders, licenses, registrations or qualifications as
            have been obtained; and

            (iv) a letter from counsel of the Seller to the effect that nothing
      has come to such counsel's attention that would lead such counsel to
      believe that the Prospectus Supplement as of the date thereof or as of the
      Closing Date contains, with respect to the Seller or the Mortgage Loans,
      any untrue statement of a material fact or omits to state a material fact
      necessary in order to make the statements therein relating to the Seller
      or the Mortgage Loans, in the light of the circumstances under which they
      were made, not misleading.

            (c) The Offered Certificates shall have been concurrently issued and
sold pursuant to the terms of the Underwriting Agreement. The Private
Certificates shall have been concurrently issued and sold pursuant to the terms
of the Certificate Purchase Agreement.

            (d) The Seller shall have executed and delivered concurrently
herewith the Indemnification Agreement.

            (e) The Seller shall furnish the Purchaser with such other
certificates of its officers or others and such other documents and opinions to
evidence fulfillment of the conditions set forth in this Agreement as the
Purchaser and its counsel may reasonably request.

            SECTION 8. Closing. The closing for the purchase and sale of the
Mortgage Loans shall take place at the office of Cadwalader, Wickersham & Taft
LLP, New York, New York, at 10:00 a.m., on the Closing Date or such other place
and time as the parties shall agree. The parties hereto agree that time is of
the essence with respect to this Agreement.

            SECTION 9. Expenses. The Seller will pay its pro rata share (the
Seller's pro rata share to be determined according to the percentage that the
aggregate principal balance as of the Cut-off Date of all the Mortgage Loans
represents in proportion to the aggregate principal balance as of the Cut-off
Date of all the mortgage loans to be included in the Trust Fund) of all costs
and expenses of the Purchaser in connection with the transactions contemplated
herein, including (without duplication thereof), but not limited to: (i) the
costs and expenses of the Purchaser in connection with the purchase of the
Mortgage Loans and other mortgage loans; (ii) the costs and expenses of
reproducing and delivering the Pooling and Servicing Agreement and printing (or
otherwise reproducing) and delivering the Certificates; (iii) the reasonable and
documented fees, costs and expenses of the Trustee and its counsel incurred in
connection with the Trustee entering into the Pooling and Servicing Agreement;
(iv) the fees and disbursements of a firm of certified public accountants
selected by the Purchaser and the Seller with respect to numerical information
in respect of the Mortgage Loans, other mortgage loans and the Certificates
included in the Prospectus, the Memoranda (as defined in the Indemnification
Agreement) and any related 8-K Information (as defined in the Underwriting
Agreement), or items similar to the 8-K Information, including the cost of
obtaining any "comfort letters" with respect to such items; (v) the costs and
expenses in connection with the qualification or exemption of the Certificates
under state securities or blue sky laws, including filing fees and reasonable
fees and disbursements of counsel in connection therewith; (vi) the costs and
expenses in connection with any determination of the eligibility of the
Certificates for investment by institutional investors in any jurisdiction and
the preparation of any legal investment survey, including reasonable fees and
disbursements of counsel in connection therewith; (vii) the costs and expenses
in connection with printing (or otherwise reproducing) and delivering the
Registration Statement, Prospectus and Memoranda, and the reproduction and
delivery of this Agreement and the furnishing to the Underwriters of such copies
of the Registration Statement, Prospectus, Memoranda and this Agreement as the
Underwriters may reasonably request; (viii) the fees of the rating agency or
agencies requested to rate the Certificates and (ix) the reasonable fees and
expenses of Thacher Proffitt & Wood LLP, counsel to the Underwriters, and
Cadwalader, Wickersham & Taft LLP, counsel to the Depositor.

            SECTION 10. 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. Furthermore, the
parties shall in good faith endeavor to replace any provision held to be invalid
or unenforceable with a valid and enforceable provision which most closely
resembles, and which has the same economic effect as, the provision held to be
invalid or unenforceable.

            SECTION 11. Governing Law. This Agreement shall be construed in
accordance with the laws of the State of New York without regard to conflicts of
law principles and the obligations, rights and remedies of the parties hereunder
shall be determined in accordance with such laws.

            SECTION 12. No Third Party Beneficiaries. The parties do not intend
the benefits of this Agreement to inure to any third party except as expressly
set forth in Section 13.

            SECTION 13. Assignment. The Seller hereby acknowledges that the
Purchaser has, concurrently with the execution hereof, executed and delivered
the Pooling and Servicing Agreement and that, in connection therewith, it has
assigned its rights hereunder to the Trustee for the benefit of the
Certificateholders to the extent set forth in the Pooling and Servicing
Agreement and that the rights so assigned may be further assigned to, and shall
inure to the benefit of, any successor trustee under the Pooling and Servicing
Agreement. The Seller hereby acknowledges its obligations (subject to the
provisions hereof), including that of expense reimbursement, pursuant to
Sections 2.01, 2.02 and 2.03 of the Pooling and Servicing Agreement. Except as
set forth hereinabove and in Sections 2.01, 2.02 and 2.03 of the Pooling and
Servicing Agreement, the representations and warranties of the Seller made
hereunder and the remedies provided hereunder with respect to Breaches or
Defects may not be further assigned by the Purchaser, the Trustee or any
successor trustee. No owner of a Certificate issued pursuant to the Pooling and
Servicing Agreement shall be deemed a successor or permitted assign because of
such ownership. This Agreement shall bind and inure to the benefit of, and be
enforceable by, the Seller, the Purchaser and their permitted successors and
permitted assigns. The warranties and representations and the agreements made by
the Seller herein shall survive delivery of the Mortgage Loans to the Trustee
until the termination of the Pooling and Servicing Agreement.

            SECTION 14. Notices. All demands, notices and communications
hereunder shall be in writing and shall be deemed to have been duly given upon
receipt by the intended recipient if personally delivered at or couriered, sent
by facsimile transmission or mailed by first class or registered mail, postage
prepaid, to (i) in the case of the Purchaser, J.P. Morgan Chase Commercial
Mortgage Securities Corp., 270 Park Avenue, New York, New York 10017, Attention:
Dennis Schuh, fax number (212) 834-6593 with a copy to Bianca Russo, fax number
(212) 834-6593, (ii) in the case of the Seller, JPMorgan Chase Bank, N.A., 270
Park Avenue, 10th Floor, New York, New York 10017, Attention: Dennis Schuh, fax
number (212) 834-6593, with a copy to Bianca Russo, fax number: (212) 834-6593
and (iii) in the case of any of the preceding parties, such other address or fax
number as may hereafter be furnished to the other party in writing by such
party.

            SECTION 15. Amendment. This Agreement may be amended only by a
written instrument which specifically refers to this Agreement and is executed
by the Purchaser and the Seller; provided, however, that unless such amendment
is to cure an ambiguity, mistake or inconsistency in this Agreement, no
amendment shall be permitted unless each Rating Agency has delivered a written
confirmation that such amendment will not result in a downgrade, withdrawal or
qualification of the then current ratings of the Certificates and the cost of
obtaining any Rating Agency confirmation shall be borne by the party requesting
such amendment. This Agreement shall not be deemed to be amended orally or by
virtue of any continuing custom or practice. No amendment to the Pooling and
Servicing Agreement which relates to defined terms contained therein or any
obligations of the Seller whatsoever shall be effective against the Seller
unless the Seller shall have agreed to such amendment in writing.

            SECTION 16. Counterparts. This Agreement may be executed in any
number of counterparts, and by the parties hereto in separate counterparts, each
of which when executed and delivered shall be deemed to be an original and all
of which taken together shall constitute one and the same instrument.

            SECTION 17. Exercise of Rights. No failure or delay on the part of
any party to exercise any right, power or privilege under this Agreement and no
course of dealing between the Seller and the Purchaser shall operate as a waiver
thereof, nor shall any single or partial exercise of any right, power or
privilege under this Agreement preclude any other or further exercise thereof or
the exercise of any other right, power or privilege. Except as set forth in
Section 6 herein, the rights and remedies herein expressly provided are
cumulative and not exclusive of any rights or remedies which any party would
otherwise have pursuant to law or equity. Except as set forth in Section 6
herein, no notice to or demand on any party in any case shall entitle such party
to any other or further notice or demand in similar or other circumstances, or
constitute a waiver of the right of either party to any other or further action
in any circumstances without notice or demand.

            SECTION 18. No Partnership. Nothing herein contained shall be deemed
or construed to create a partnership or joint venture between the parties
hereto. Nothing herein contained shall be deemed or construed as creating an
agency relationship between the Purchaser and the Seller and neither party shall
take any action which could reasonably lead a third party to assume that it has
the authority to bind the other party or make commitments on such party's
behalf.

            SECTION 19. Miscellaneous. This Agreement supersedes all prior
agreements and understandings relating to the subject matter hereof. Neither
this Agreement nor any term hereof may be changed, waived, discharged or
terminated orally, but only by an instrument in writing signed by the party
against whom enforcement of the change, waiver, discharge or termination is
sought.

                                   * * * * * *
<PAGE>

            IN WITNESS  WHEREOF,  the  Purchaser  and the Seller  have  caused
their names to be signed hereto by their  respective  officers  thereunto duly
authorized as of the day and year first above written.

                                       J.P. MORGAN CHASE COMMERCIAL MORTGAGE
                                          SECURITIES CORP., as Purchaser

                                       By:   /s/ Charles Y. Lee
                                          ----------------------------------
                                          Name:  Charles Y. Lee
                                          Title: Vice President

                                       JPMORGAN CHASE BANK, N.A., as Seller

                                       By:   /s/ Charles Y. Lee
                                          ----------------------------------
                                          Name:  Charles Y. Lee
                                          Title: Vice President
<PAGE>

                                    EXHIBIT A

                             MORTGAGE LOAN SCHEDULE

<TABLE>
<CAPTION>
   Loan #    Mortgagor Name
------------------------------------------------------------------------------------------------------------------------------------
<S>          <C>
     2       Brookfield Properties 53 State Co. L.P.
     3       Silicon Valley CA-I, LLC, Silicon Valley CA-II, LLC and Silicon Valley CA-III, LLC
    3.01
    3.02
    3.03
    3.04
    3.05
    3.06
    3.07
    3.08
    3.09
    3.1
    3.11
    3.12
    3.13
    3.14
    3.15
    3.16
    3.17
    3.18
     7*      CRP Holdings B, L.P., CRP Holdings B-TX, L.P.
     7       CRP Holdings B, L.P., CRP Holdings B-TX, L.P.
     8       CRP Holdings B, L.P., CRP Holdings B-TX, L.P.
     9       CRP Holdings B, L.P., CRP Holdings B-TX, L.P.
     10      CRP Holdings B, L.P., CRP Holdings B-TX, L.P.
     11      CRP Holdings B, L.P., CRP Holdings B-TX, L.P.
     12      CRP Holdings B, L.P., CRP Holdings B-TX, L.P.
     13      CRP Holdings B, L.P., CRP Holdings B-TX, L.P.
     14      CRP Holdings B, L.P., CRP Holdings B-TX, L.P.
     15      CRP Holdings B, L.P., CRP Holdings B-TX, L.P.
     16      CRP Holdings B, L.P., CRP Holdings B-TX, L.P.
     17      CRP Holdings B, L.P., CRP Holdings B-TX, L.P.
     18      CRP Holdings B, L.P., CRP Holdings B-TX, L.P.
     19      CRP Holdings B, L.P., CRP Holdings B-TX, L.P.
     20      CRP Holdings B, L.P., CRP Holdings B-TX, L.P.
     21      CRP Holdings B, L.P., CRP Holdings B-TX, L.P.
     22      Welsh ADS IN, LLC, Welsh ADS NC, LLC, Welsh Core OH, LLC, Welsh Fingerhut MN, LLC, Welsh GMR WI, LLC, Welsh HK WI, LLC,
             Welsh Jenkins AL, LLC, Welsh Leedsworld PA, LLC, Welsh Midland WI, LLC, Welsh Navarre MN, LLC, Wesh Olsen IA, LLC,
             Welsh Riviera MI, LLC, and Welsh Superstock FL, LLC
   22.01
   22.02
   22.03
   22.04
   22.05
   22.06
   22.07
   22.08
   22.09
    22.1
   22.11
   22.12
   22.13
     23      FMP Kimco Foothills LLC
     25      Smart Park PH I, LLC and Garlick Investments, LLC
     30      543 East 21st Limited Liability Company, 538 East 21st Limited Liability Company, CN 1820 LLC, CNU1 LLC, HM 1296 LLC,
             CNU2 LLC, CN 17 LLC, JFU1 LLC, CNU4 LLC
   30.01
   30.02
     39      Tidan USA / Orange Grove LLC
     40      Triangle Industrial Enterprises, LLC
     41      ACC Commerce Center, LLC
     48      LT Loma Verde LLC
     49      Briargrove Place, L.L.C.
     52      ACC Executive Tower, LLC
     53      South Dean Street, L.P.
     54      Citiside Booth, LLC, Citiside Brauburger, LLC, Citiside Canevari, LLC, Citiside Christenson, LLC, Citiside Comer, LLC,
             Citiside Dreier, LLC, Citiside Franzen, LLC, Citiside Garg, LLC, Citiside Global, LLC, Citiside Hemry, LLC, Citiside
             LI, LLC, Citiside Locey, LLC, Citiside Nalbach, LLC, Citiside Nartker, LLC, Citiside Nguyen LLC, Citiside Patty, LLC,
             Citiside Poulton, LLC, Citiside Stielstra, LLC, Citiside Tsukamoto-Kozen, LLC, Citiside Tsukamoto-Kazue, LLC, Citiside
             Vendelin, LLC, Citiside Wasilewski, LLC, Citiside Wright, LLC, Citiside RS, LLC
     57      Madison/PMT La Quinta, LLC
     58      Ak-Sar-Ben Village, L.L.C.
     61      501 North 44th Street Trust
     66      Glenview Ravine Way LLC
     67      TSN Country Corner LLC
     69      Landerbrook Place, Limited Partnership
     74      Knob Hill Apartments Limited Partnership
     76      JCRS II, Colorado-Hampden Villa, LLC and Four Boys Hampden Villa, LLC
     78      Diab-Sharkiah, LLC
     84      Circuit Associates, LLC
     85      SJS - 95 Highland Avenue, L.P.
     87      Harvey Oaks, L.L.C.
     92      Cioe Chandler I, LLC
     97      Grape Vine Market Center, L.P.
     99      Ross Plaza One, L.L.C. & Stanford Fiesta Crossings, LLC
    100      Wink United Plaza, L.L.C.
    101      TRPF / 1252 Orleans, LLC
    103      Donato at Wall 3, LLC
    108      Spectrum I Woodstock LLC
    110      Eastpoint Properties LLC
    111      Redbank Professional Office Building, LLC
    115      SJS- 100 Brodhead Road, L.P
    121      R G Centers, LLC
    123      E-Town Motel Associates-2, LLC
    127      TPRF / 1310 Orleans, LLC
    128      DJK Round Rock Management, L.L.C. and PCK Round Rock Management, L.L.C.
    134      Starkville Investment Company, LLC
    137      ACC Century Borrower, LLC
    140      Emmorton Road Development, LLC
    141      RVR Capital, LLC
    146      Maruti Hotels, LLC
    147      Dwyer Family Limited Partnership SS I
    152      30 E. Hoffman, LLC
    154      Garfield Investors, LLC
    155      TP Investors, LLC

<CAPTION>
Loan #    Property Address
------------------------------------------------------------------------------------------------------------------------------------
<S>       <C>
  2       53 State Steet
  3       Various
 3.01     1140 Technology Drive, 500 McCarthy Boulevard, 900 Sumac Drive, 1000 Sumac Drive, 1101 Sumac Drive, 601 McCarthy Boulevard
 3.02     1101 West Maude Avenue, 700A, 700B, 700C East Middlefield Road
 3.03     1455, 1421, 1371, 1390, 1440 McCarthy Drive, 888, 800, 750, 690 Tasman Drive, 620, 590, 570, 540, 500 Alder Drive
 3.04     2518, 2520, 2540, 2560 Mission College Boulevard, 3900, 3910, 3920, 3930, 3940, 3960, 3970, 3990 Freedom Circle
 3.05     3233, 3255 Scott Boulevard, 3333, 3393 Octavius Drive, 2455, 2465, 2475 Augustine Drive
 3.06     3101, 3102, 3103 Scott Boulevard, 3250, 3260, 3270 Jay Street, 3201 Olcott Street
 3.07     191 Baypointe Parkway, 105, 160, 178 East Tasman Drive
 3.08     772, 785 Lucerne Drive, 285 North Wolfe Road, 140 Kiefer Court, 1293 Anvilwood Avenue, 484 Oakmead Parkway, 1151 Sonora
          Court, 1277 Reamwood Avenue, 324, 328 Martin Avenue, 150 Charcot Avenue, 2191 Zanker Road
 3.09     2820 Orchard Parkway, 3, 75 West Plumeria Drive, 2825 North First Street
 3.1      350, 470, 485 Potrero Avenue, 880 W. Maude Avenue, 415 N. Mathilda Avenue, 435 Indio Way
 3.11     333, 345 East Middlefield Road, 301 North Whisman Road, 640 Clyde Court, 835, 880 Maude Avenue, 1161 San Antonio Road,
          2761 Marine Parkway, 636 Ellis Street
 3.12     2400, 2424, 2630, 2710 Walsh Avenue, 2855 Bowers Avenue
 3.13     535, 555 Del Rey Avenue, 650 Alamanor Avenue, 646-686 Maude Avenue, 750 Palomar Avenue
 3.14     500, 501 Macara Avenue
 3.15     1920,1940,1960,1980 Zanker Road
 3.16     2121, 2111, 2101 Tasman Drive
 3.17     550 Del Rey Avenue, 595 North Pastoria Avenue, 639 Pastoria Evenue, 733 Palomar Avenue, 670 Almanor Avenue
 3.18     5150 Great America Parkway, 2952 Bunker Hill Lane and 5155 Old Ironsides Drive
  7*      Various
  7       5855 Copley Drive
  8       4001 & 4105 Hickory Hill Road and 5625 Challenge Drive
  9       11701, 11725 & 12055 Missouri Bottom Road
  10      155 Pfingsten Road
  11      2287-2321 South Mount Prospect Road
  12      520 East North Avenue
  13      6501 Flotilla Street
  14      4550 Spring Valley Road
  15      8500-8580 Hedge Lane Terrace
  16      10351 Home Road
  17      815 South Coppell Road
  18      13524 Welch Road
  19      1130 West Jackson Road
  20      4600 Simonton Road
  21      625 Slawin Court
  22      Various
22.01     6210-6270 Ridgewood Road
22.02     400 Hunt Valley Road
22.03     5000 South Towne Drive
22.04     2855 South James Drive
22.05     7660 Centurion Parkway
22.06     7550 49th Avenue North
22.07     5460 Executive Parkway
22.08     3545 Nicholson Road
22.09     1745 East 165th Street
 22.1     1608 Frank Akers Road
22.11     1100 East LeClaire Road
22.12     787 Renaissance Parkway
22.13     9925 Brookford Street
  23      7325 North La Cholla Boulevard
  25      2400 Stevens Drive, 2425, 2435, 2440 & 2505 Stevens Center Place and 2620 Fermi Drive
  30      Various
30.01     28405 Van Dyke Avenue
30.02     805 Uniek Drive
  39      111 North Gilbert Road
  40      701 Distribution Drive
  41      7701 Greenbelt Road
  48      3150, 3180, 3200, 3206, 3210, 3216, 3220, 3226 and 3230  Loma Verde Drive
  49      17855 North Dallas Parkway
  52      2101 Executive Drive
  53      24 & 42 South Dean Street
  54      5000 Community Circle
  57      78370 Hwy 111
  58      1220 South 71st Street
  61      501 North 44th Street
  66      2350 Ravine Way
  67      635 North Broadway
  69      5915 Landerbrook Drive
  74      2300 Knob Hill Drive
  76      15102-15282 East Hampden Avenue
  78      9323 - 9333 Tech Center Drive
  84      3000 South Halsted Street
  85      95 Highland Avenue
  87      12100-14626 West Center Road
  92      3191 North Washington Street
  97      7938 Great Northern Boulevard
  99      4770 Montgomery Blvd NE
 100      8641 United Plaza Blvd
 101      1252 Orleans Drive
 103      1800 Route 34
 108      1029 South Main Street
 110      2600 Eastpoint Parkway
 111      4850 Red Bank Road
 115      100 Brodhead Road
 121      14755 Foothill Boulevard
 123      1031 Executive Drive
 127      1308 Orleans Drive
 128      2051 Gattis School Road
 134      700 Highway 12 East
 137      20111 Century Boulevard
 140      2107 Laurel Bush Road
 141      4938 Brownsboro Road
 146      11714 Morris Bridge Road
 147      12310 Perry Road
 152      30 East Hoffman Avenue
 154      4519 North Garfield Street
 155      610 Center Street

<CAPTION>
   Loan #    City                                    State              Zip Code             County
-------------------------------------------------------------------------------------------------------------------
<S>          <C>                                      <C>          <C>                       <C>
     2       Boston                                   MA                  02109              Suffolk
     3       Various                                  CA                 Various             Various
    3.01     Milpitas                                 CA                  95035              Santa Clara
    3.02     Mountain View                            CA                  95054              Santa Clara
    3.03     Milpitas                                 CA                  95035              Santa Clara
    3.04     Santa Clara                              CA                  95054              Santa Clara
    3.05     Santa Clara                              CA                  95054              Santa Clara
    3.06     Santa Clara                              CA                  95054              Santa Clara
    3.07     San Jose                                 CA                  95134              Santa Clara
    3.08     Sunnyvale, Santa Clara, San Jose         CA           94085, 95054, 95112       Santa Clara
    3.09     San Jose                                 CA                  95112              Santa Clara
    3.1      Sunnyvale                                CA                  94085              Santa Clara
    3.11     Mountain View                            CA                  94043              Santa Clara
    3.12     Santa Clara                              CA                  95054              Santa Clara
    3.13     Sunnyvale                                CA                  94085              Santa Clara
    3.14     Sunnyvale                                CA                  94085              Santa Clara
    3.15     San Jose                                 CA                  95112              Santa Clara
    3.16     Santa Clara                              CA                  95054              Santa Clara
    3.17     Sunnyvale                                CA                  94085              Santa Clara
    3.18     Santa Clara                              CA                  95054              Santa Clara
     7*      Various                                Various              Various             Various
     7       San Diego                                CA                  92111              San Diego
     8       Memphis                                  TN                  38115              Shelby
     9       Hazelwood                                MO                  63042              Saint Louis
     10      Deerfield                                IL                  60015              Lake
     11      Des Plaines                              IL                  60018              Cook
     12      Carol Stream                             IL                  60188              Dupage
     13      Commerce                                 CA                  90040              Los Angeles
     14      Farmers Branch                           TX                  75244              Dallas
     15      Shawnee                                  KS                  66227              Johnson
     16      Frisco                                   TX                  75034              Collin
     17      Coppell                                  TX                  75019              Dallas
     18      Farmers Branch                           TX                  75244              Dallas
     19      Carrollton                               TX                  75006              Dallas
     20      Farmers Branch                           TX                  75244              Dallas
     21      Mount Prospect                           IL                  60056              Cook
     22      Various                                Various              Various             Various
   22.01     St. Cloud                                MN                  56303              Stearns
   22.02     New Kensington                           PA                  15068              Westmoreland
   22.03     New Berlin                               WI                  53151              Waukesha
   22.04     New Berlin                               WI                  53151              Waukesha
   22.05     Jacksonville                             FL                  32256              Duval
   22.06     New Hope                                 MN                  55428              Hennepin
   22.07     Grand Rapids                             MI                  49512              Kent
   22.08     Franksville                              WI                  53126              Racine
   22.09     Hammond                                  IN                  46320              Lake
    22.1     Anniston                                 AL                  36207              Calhoun
   22.11     Eldridge                                 IA                  52748              Scott
   22.12     Painesville                              OH                  44077              Lake
   22.13     Mecklenburg                              NC                  28273              Mecklenburg
     23      Tucson                                   AZ                  85741              Pima
     25      Richland                                 WA                  99352              Benton
     30      Various                                Various              Various             Various
   30.01     Warren                                   MI                  48093              Macomb
   30.02     Waunakee                                 WI                  53597              Dane
     39      Mesa                                     AZ                  85203              Maricopa
     40      Morrisville                              NC                  27560              Wake
     41      Greenbelt                                MD                  20770              Prince Georges
     48      San Jose                                 CA                  95117              Santa Clara
     49      Dallas                                   TX                  75287              Collin
     52      Hampton                                  VA                  23666              Hampton City
     53      Englewood                                NJ                  07631              Bergen
     54      Charlotte                                NC                  28215              Mecklenburg
     57      La Quinta                                CA                  92253              Riverside
     58      Omaha                                    NE                  68106              Douglas
     61      Phoenix                                  AZ                  85008              Maricopa
     66      Glenview                                 IL                  60025              Cook
     67      Escondido                                CA                  92025              San Diego
     69      Mayfield Heights                         OH                  44124              Cuyahoga
     74      Okemos                                   MI                  48864              Ingham
     76      Aurora                                   CO                  80014              Arapahoe
     78      Sacramento                               CA                  95826              Sacramento
     84      Chicago                                  IL                  60608              Cook
     85      Bethlehem                                PA                  18017              Northampton
     87      Omaha                                    NE                  68144              Douglas
     92      Chandler                                 AZ                  85225              Maricopa
     97      Austin                                   TX                  78757              Travis
     99      Albuquerque                              NM                  87109              Bernalillo
    100      Baton Rouge                              LA                  70809              East Baton Rouge
    101      Sunnyvale                                CA                  94089              Santa Clara
    103      Wall Township                            NJ                  07719              Monmouth
    108      Woodstock                                VA                  22664              Shenandoah
    110      Louisville                               KY                  40223              Jefferson
    111      Cincinnati                               OH                  45227              Hamilton
    115      Bethlehem                                PA                  18017              Northampton
    121      Fontana                                  CA                  92335              San Bernardino
    123      Elizabethtown                            KY                  42701              Hardin
    127      Sunnyvale                                CA                  94089              Santa Clara
    128      Round Rock                               TX                  78664              Williamson
    134      Starkville                               MS                  39759              Oktibbeha
    137      Germantown                               MD                  20874              Montgomery
    140      Bel Air                                  MD                  21015              Harford
    141      Louisville                               KY                  40222              Jefferson
    146      Tampa                                    FL                  33637              Hillsborough
    147      Houston                                  TX                  77070              Harris
    152      Lindenhurst                              NY                  11757              Suffolk
    154      Midland                                  TX                  79705              Midland
    155      Burlington                               NC                  27215              Alamance

<CAPTION>
    Loan #       Property Name                                Size            Measure          Interest Rate (%)
----------------------------------------------------------------------------------------------------------------
<S>              <C>                                           <C>          <C>                   <C>
      2          53 State Street                               1120280      Square Feet           5.95750
      3          RREEF Silicon Valley Office Portfolio         5332996      Square Feet           6.14040
     3.01        Quantum Business Park                          775249      Square Feet           6.14040
     3.02        Maude 4-7                                      397510      Square Feet           6.14040
     3.03        Milpitas Business Park                         608968      Square Feet           6.14040
     3.04        Marriot                                        427501      Square Feet           6.14040
     3.05        Park Square Phase I and Phase II               465155      Square Feet           6.14040
     3.06        Jay 1-6/Olcott                                 371106      Square Feet           6.14040
     3.07        North Pointe Business Park                     330670      Square Feet           6.14040
     3.08        Sunnyvale/Santa Clara/San Jose                 293297      Square Feet           6.14040
     3.09        Orchard Park                                   260561      Square Feet           6.14040
     3.1         Peery Park I                                   252615      Square Feet           6.14040
     3.11        Mountain View Properties                       170769      Square Feet           6.14040
     3.12        Walsh 1-8                                      251061      Square Feet           6.14040
     3.13        Peery Park II                                  202149      Square Feet           6.14040
     3.14        Macara A&B                                      96066      Square Feet           6.14040
     3.15        Zanker/Brokaw                                  120693      Square Feet           6.14040
     3.16        Guadalupe A-C                                  128000      Square Feet           6.14040
     3.17        Peery Park Biotech                              83336      Square Feet           6.14040
     3.18        Great America Parkway A-C                       98290      Square Feet           6.14040
      7*         Colony III Portfolio                          2990295      Square Feet           6.01300
      7          Copley Corporate Center                        120483      Square Feet           6.01300
      8          Memphis Distribution Center                    888942      Square Feet           6.01300
      9          St. Louis Industrial Portfolio                 492090      Square Feet           6.01300
      10         155 Pfingsten Road                             117069      Square Feet           6.01300
      11         Woodland Rose                                  191146      Square Feet           6.01300
      12         McKesson Facility                              314574      Square Feet           6.01300
      13         Flotilla                                       171388      Square Feet           6.01300
      14         4550 Spring Valley Road                        214110      Square Feet           6.01300
      15         Perimeter Park                                 110511      Square Feet           6.01300
      16         10351 Home Road                                 86400      Square Feet           6.01300
      17         815 South Coppell Road                          78750      Square Feet           6.01300
      18         13524 Welch Road                                74000      Square Feet           6.01300
      19         1130 West Jackson Road                          54095      Square Feet           6.01300
      20         4600 Simonton Road                              40000      Square Feet           6.01300
      21         Slawin Court                                    36737      Square Feet           6.01300
      22         CNL/Welsh Portfolio                           2377440      Square Feet           6.18430
    22.01        Fingerhut Distribution Facility                914315      Square Feet           6.18430
    22.02        Leedsworld                                     159785      Square Feet           6.18430
    22.03        GMR Marketing                                   74000      Square Feet           6.18430
    22.04        HK Systems                                      86204      Square Feet           6.18430
    22.05        SuperStock                                      72486      Square Feet           6.18430
    22.06        Navarre Corporation                            115286      Square Feet           6.18430
    22.07        Riviera Tool Company                           176607      Square Feet           6.18430
    22.08        Midland Containers                             136000      Square Feet           6.18430
    22.09        ADS Logistics - IN                             102475      Square Feet           6.18430
     22.1        Jenkins Manufacturing Company                  203496      Square Feet           6.18430
    22.11        Olsen Engineering LLC                          131550      Square Feet           6.18430
    22.12        Core Systems                                    98592      Square Feet           6.18430
    22.13        ADS Logistics - NC                             106644      Square Feet           6.18430
      23         Foothills Mall                                 501514      Square Feet           6.08050
      25         Stevens Center Business Park                   469014      Square Feet           6.24650
      30         Neiss Portfolio                                449950      Square Feet           6.24200
    30.01        Asset Acceptance                               200000      Square Feet           6.24200
    30.02        Uniek                                          249950      Square Feet           6.24200
      39         Orange Grove Apartments                           396         Units              6.09500
      40         Keystone Industrial Park                       536000      Square Feet           6.33250
      41         Commerce Center I                              123248      Square Feet           5.87200
      48         Villa Verde Apartments II                         164         Units              6.16000
      49         Briargrove Place                               127083      Square Feet           6.28000
      52         Executive Tower                                134179      Square Feet           5.84100
      53         Shoppes on Dean                                 40666      Square Feet           6.22000
      54         The Links at Citiside Apartments                  276         Units              6.62000
      57         The Plaza at Point Happy                        38674      Square Feet           6.09000
      58         Shoppes at Aksarben                             55121      Square Feet           6.14000
      61         Phoenix Office Building                        102185      Square Feet           6.17300
      66         2350 Ravine Way                                 60354      Square Feet           6.15300
      67         Country Corner Shopping Center                  52427      Square Feet           6.14000
      69         Landerbrook Place                               77664      Square Feet           6.19500
      74         Knobhill Apartments                               228         Units              6.02900
      76         Hampden Villa Center                            96181      Square Feet           6.26000
      78         Mayhew Tech Center                              68639      Square Feet           6.01000
      84         Parkview Plaza                                  49984      Square Feet           6.18750
      85         Highland Plaza                                  73000      Square Feet           6.05600
      87         Harvey Oaks                                     61811      Square Feet           5.52000
      92         EastPoint Business Center                       77225      Square Feet           6.27000
      97         Grape Vine Center                               35005      Square Feet           6.30000
      99         Fiesta Crossings SC                             64602      Square Feet           6.15000
     100         United Plaza                                    52161      Square Feet           6.36000
     101         Orleans Business Park                           50000      Square Feet           6.20000
     103         Donato Corporate Park                           41176      Square Feet           5.97500
     108         Woodstock Square Shopping Center                83845      Square Feet           6.06000
     110         Eastpoint Business Park                         45000      Square Feet           6.63500
     111         Red Bank Medical                                38412      Square Feet           6.29750
     115         Liberty Plaza                                   47765      Square Feet           6.05600
     121         Foothill Village                                24895      Square Feet           5.93000
     123         Fairfield Inn & Suites                             75         Rooms              6.31000
     127         Orleans Business Park II                        50000      Square Feet           6.20000
     128         Round Rock Towne Center                         45174      Square Feet           6.23000
     134         Hampton Inn - Starkville, MS                       69         Rooms              6.62750
     137         Century Boulevard                               21108      Square Feet           5.69330
     140         Emmorton Professional Building                  29039      Square Feet           6.23000
     141         Rodes Building                                  24960      Square Feet           6.44500
     146         Ramada Inn - Tampa                                122         Rooms              6.59500
     147         Storage Solutions                                 689         Units              6.55000
     152         30 East Hoffman Avenue                          21500      Square Feet           6.46500
     154         Garfield Place                                  36064      Square Feet           6.63000
     155         Tucker Street Apartments                          100         Units              5.90000

<CAPTION>
                 Net
              Mortgage
               Interest             Original           Cutoff                      Rem.     Maturity/    Amort.       Rem.
   Loan #        Rate               Balance           Balance      Term            Term     ARD Date      Term       Amort.
--------------------------------------------------------------------------------------------------------------------------------
<S>             <C>                <C>                <C>           <C>             <C>    <C>             <C>         <C>
     2          5.93690            280,000,000        280,000,000   120             119    08/01/16         0           0
     3          6.11980            250,000,000        250,000,000    84              82    07/09/13         0           0
    3.01        6.11980             43,396,071         43,396,071    84              82    07/09/13         0           0
    3.02        6.11980             35,081,786         35,081,786    84              82    07/09/13         0           0
    3.03        6.11980             21,665,357         21,665,357    84              82    07/09/13         0           0
    3.04        6.11980             20,536,786         20,536,786    84              82    07/09/13         0           0
    3.05        6.11980             20,515,000         20,515,000    84              82    07/09/13         0           0
    3.06        6.11980             16,607,500         16,607,500    84              82    07/09/13         0           0
    3.07        6.11980             14,566,786         14,566,786    84              82    07/09/13         0           0
    3.08        6.11980             11,462,143         11,462,143    84              82    07/09/13         0           0
    3.09        6.11980             10,854,286         10,854,286    84              82    07/09/13         0           0
    3.1         6.11980              9,139,286          9,139,286    84              82    07/09/13         0           0
    3.11        6.11980              8,596,786          8,596,786    84              82    07/09/13         0           0
    3.12        6.11980              8,401,429          8,401,429    84              82    07/09/13         0           0
    3.13        6.11980              7,381,071          7,381,071    84              82    07/09/13         0           0
    3.14        6.11980              5,036,429          5,036,429    84              82    07/09/13         0           0
    3.15        6.11980              4,862,857          4,862,857    84              82    07/09/13         0           0
    3.16        6.11980              4,515,357          4,515,357    84              82    07/09/13         0           0
    3.17        6.11980              4,255,000          4,255,000    84              82    07/09/13         0           0
    3.18        6.11980              3,126,070          3,126,070    84              82    07/09/13         0           0
     7*         5.99240            116,704,000        116,704,000                                           0           0
     7          5.99240             24,000,000         24,000,000    96              96    09/01/14         0           0
     8          5.99240             18,000,000         18,000,000    72              72    09/01/12         0           0
     9          5.99240             14,040,000         14,040,000    96              96    09/01/14         0           0
     10         5.99240             12,150,000         12,150,000    60              60    09/01/11         0           0
     11         5.99240             10,410,000         10,410,000    72              72    09/01/12         0           0
     12         5.99240             10,200,000         10,200,000    72              72    09/01/12         0           0
     13         5.99240              7,234,000          7,234,000    96              96    09/01/14         0           0
     14         5.99240              6,377,774          6,377,774    72              72    09/01/12         0           0
     15         5.99240              3,480,000          3,480,000    72              72    09/01/12         0           0
     16         5.99240              2,573,629          2,573,629    72              72    09/01/12         0           0
     17         5.99240              2,345,755          2,345,755    72              72    09/01/12         0           0
     18         5.99240              2,100,000          2,100,000    60              60    09/01/11         0           0
     19         5.99240              1,611,348          1,611,348    72              72    09/01/12         0           0
     20         5.99240              1,191,495          1,191,495    72              72    09/01/12         0           0
     21         5.99240                990,000            990,000    72              72    09/01/12         0           0
     22         6.16370            110,200,000        110,200,000   120             118    07/07/16        360         360
   22.01        6.16370             16,700,000         16,700,000   120             118    07/07/16        360         360
   22.02        6.16370             13,525,000         13,525,000   120             118    07/07/16        360         360
   22.03        6.16370             11,650,000         11,650,000   120             118    07/07/16        360         360
   22.04        6.16370             11,250,000         11,250,000   120             118    07/07/16        360         360
   22.05        6.16370              8,450,000          8,450,000   120             118    07/07/16        360         360
   22.06        6.16370              7,425,000          7,425,000   120             118    07/07/16        360         360
   22.07        6.16370              6,750,000          6,750,000   120             118    07/07/16        360         360
   22.08        6.16370              6,550,000          6,550,000   120             118    07/07/16        360         360
   22.09        6.16370              6,350,000          6,350,000   120             118    07/07/16        360         360
    22.1        6.16370              6,000,000          6,000,000   120             118    07/07/16        360         360
   22.11        6.16370              5,700,000          5,700,000   120             118    07/07/16        360         360
   22.12        6.16370              5,150,000          5,150,000   120             118    07/07/16        360         360
   22.13        6.16370              4,700,000          4,700,000   120             118    07/07/16        360         360
     23         6.05990             81,000,000         81,000,000   120             118    07/01/16        360         360
     25         6.20590             55,650,000         55,650,000   120             120    09/01/16        360         360
     30         6.22140             36,600,000         36,571,565   120             119    08/01/16        360         359
   30.01        6.22140             27,500,000         27,478,635   120             119    08/01/16        360         359
   30.02        6.22140              9,100,000          9,092,930   120             119    08/01/16        360         359
     39         6.07440             20,000,000         20,000,000   120             118    07/01/16        360         360
     40         6.31190             19,675,000         19,660,087   120             119    08/01/16        360         359
     41         5.80140             18,300,000         18,300,000   120             120    10/01/16        360         360
     48         6.13940             13,900,000         13,900,000   120             119    08/01/16        360         360
     49         6.25940             13,700,000         13,665,810   120             117    06/01/16        360         357
     52         5.77040             12,800,000         12,800,000   120             120    10/01/16        360         360
     53         6.19940             12,380,000         12,380,000   144             144    10/01/18        360         360
     54         6.55940             11,980,000         11,980,000    60              58    07/01/11        360         360
     57         6.06940              9,900,000          9,900,000   120             115    04/01/16        360         360
     58         6.11940             10,400,000         10,400,000   144             144    09/01/18        360         360
     61         6.15240             10,000,000         10,000,000   120             120    09/01/16        360         360
     66         6.08240              8,700,000          8,700,000   120             120    09/01/16        360         360
     67         6.06940              8,660,000          8,660,000   120             119    08/01/16        360         360
     69         6.12440              8,450,000          8,450,000   120             119    08/01/16        360         360
     74         6.00840              8,000,000          8,000,000   120             120    09/01/16        360         360
     76         6.23940              7,600,000          7,600,000   120             119    08/01/16        360         360
     78         5.98940              7,400,000          7,400,000   120             120    09/01/16        360         360
     84         6.16690              6,400,000          6,400,000   120             119    08/01/16        360         360
     85         6.03540              6,375,000          6,375,000   120             120    09/01/16        360         360
     87         5.49940              6,250,000          6,250,000   120             118    07/01/16        360         360
     92         6.24940              5,900,000          5,900,000   120             120    09/01/16        360         360
     97         6.27940              5,525,000          5,525,000   120             119    08/01/16        360         360
     99         6.12940              5,500,000          5,493,184   120             119    08/01/16        300         299
    100         6.33940              5,400,000          5,391,854   120             118    07/01/16        360         358
    101         6.12940              5,300,000          5,300,000   120             118    07/01/16         0           0
    103         5.91440              5,200,000          5,200,000   120             120    09/01/16        360         360
    108         6.03940              5,050,000          5,050,000   120             120    09/01/16        360         360
    110         6.54440              5,000,000          5,000,000   180             180    09/01/21        360         360
    111         6.27690              5,000,000          5,000,000   120             120    09/01/16        360         360
    115         6.03540              4,825,000          4,825,000   120             120    09/01/16        360         360
    121         5.90940              4,625,000          4,625,000   120             120    09/01/16        360         360
    123         6.23940              4,450,000          4,450,000   120             120    09/01/16        240         240
    127         6.12940              4,200,000          4,200,000   120             118    07/01/16         0           0
    128         6.15940              4,175,000          4,166,930   240             239    08/01/26        240         239
    134         6.54690              3,600,000          3,595,950   120             119    08/01/16        300         299
    137         5.62270              3,400,000          3,400,000   120             120    10/01/16        360         360
    140         6.13940              3,200,000          3,197,506   120             119    08/01/16        360         359
    141         6.37440              3,200,000          3,197,168   120             119    08/01/16        336         335
    146         6.48440              3,000,000          3,000,000   120             120    09/01/16        240         240
    147         6.47940              3,000,000          2,997,860   120             119    08/01/16        360         359
    152         6.44440              2,500,000          2,495,330   180             179    08/01/21        240         239
    154         6.60940              2,320,000          2,314,687    60              57    06/01/11        360         357
    155         5.87940              1,980,000          1,980,000   120             114    03/01/16        360         360

<CAPTION>
              Monthly                                                       ARD
                Debt          Servicing          Accrual          ARD       Step                         Crossed       Originator/
 Loan #       Service         Fee Rate            Type           (Y/N)     Up (%)      Title Type         Loan         Loan Seller
------------------------------------------------------------------------------------------------------------------------------------
<S>           <C>              <C>             <C>                <C>       <C>     <C>                   <C>              <C>
   2          1,409,390        0.02000         Actual/360         No                    Leasehold                          JPMCB
   3          1,297,017        0.02000         Actual/360         No                       Fee                             JPMCB
  3.01                         0.02000                            No                       Fee                             JPMCB
  3.02                         0.02000                            No                       Fee                             JPMCB
  3.03                         0.02000                            No                       Fee                             JPMCB
  3.04                         0.02000                            No                       Fee                             JPMCB
  3.05                         0.02000                            No                       Fee                             JPMCB
  3.06                         0.02000                            No                       Fee                             JPMCB
  3.07                         0.02000                            No                       Fee                             JPMCB
  3.08                         0.02000                            No                       Fee                             JPMCB
  3.09                         0.02000                            No                       Fee                             JPMCB
  3.1                          0.02000                            No                       Fee                             JPMCB
  3.11                         0.02000                            No                       Fee                             JPMCB
  3.12                         0.02000                            No                       Fee                             JPMCB
  3.13                         0.02000                            No                       Fee                             JPMCB
  3.14                         0.02000                            No                       Fee                             JPMCB
  3.15                         0.02000                            No                       Fee                             JPMCB
  3.16                         0.02000                            No                       Fee                             JPMCB
  3.17                         0.02000                            No                       Fee                             JPMCB
  3.18                         0.02000                            No                       Fee                             JPMCB
   7*           592,906        0.02000         Actual/360         No                       Fee                             JPMCB
   7            121,930        0.02000         Actual/360         No                       Fee            01/01/00         JPMCB
   8             91,448        0.02000         Actual/360         No                       Fee            01/01/00         JPMCB
   9             71,329        0.02000         Actual/360         No                       Fee            01/01/00         JPMCB
   10            61,727        0.02000         Actual/360         No                       Fee            01/01/00         JPMCB
   11            52,887        0.02000         Actual/360         No                       Fee            01/01/00         JPMCB
   12            51,820        0.02000         Actual/360         No                       Fee            01/01/00         JPMCB
   13            36,752        0.02000         Actual/360         No                       Fee            01/01/00         JPMCB
   14            32,402        0.02000         Actual/360         No                       Fee            01/01/00         JPMCB
   15            17,680        0.02000         Actual/360         No                       Fee            01/01/00         JPMCB
   16            13,075        0.02000         Actual/360         No                       Fee            01/01/00         JPMCB
   17            11,917        0.02000         Actual/360         No                       Fee            01/01/00         JPMCB
   18            10,669        0.02000         Actual/360         No                       Fee            01/01/00         JPMCB
   19             8,186        0.02000         Actual/360         No                       Fee            01/01/00         JPMCB
   20             6,053        0.02000         Actual/360         No                       Fee            01/01/00         JPMCB
   21             5,030        0.02000         Actual/360         No                       Fee            01/01/00         JPMCB
   22           673,819        0.02000         Actual/360         No                       Fee                             JPMCB
 22.01                         0.02000                            No                       Fee                             JPMCB
 22.02                         0.02000                            No                       Fee                             JPMCB
 22.03                         0.02000                            No                       Fee                             JPMCB
 22.04                         0.02000                            No                       Fee                             JPMCB
 22.05                         0.02000                            No                       Fee                             JPMCB
 22.06                         0.02000                            No                       Fee                             JPMCB
 22.07                         0.02000                            No                       Fee                             JPMCB
 22.08                         0.02000                            No                       Fee                             JPMCB
 22.09                         0.02000                            No                       Fee                             JPMCB
  22.1                         0.02000                            No                       Fee                             JPMCB
 22.11                         0.02000                            No                       Fee                             JPMCB
 22.12                         0.02000                            No                       Fee                             JPMCB
 22.13                         0.02000                            No                       Fee                             JPMCB
   23           489,836        0.02000         Actual/360         No                       Fee                             JPMCB
   25           342,520        0.02000         Actual/360         No                Fee and Leasehold                      JPMCB
   30           225,162        0.02000         Actual/360         No                       Fee                             JPMCB
 30.01                         0.02000                            No                       Fee                             JPMCB
 30.02                         0.02000                            No                       Fee                             JPMCB
   39           121,134        0.02000         Actual/360         No                       Fee                             JPMCB
   40           122,200        0.02000         Actual/360         No                       Fee                             JPMCB
   41           108,216        0.02000         Actual/360         No                       Fee                             JPMCB
   48            84,773        0.02000         Actual/360         No                       Fee                             JPMCB
   49            84,621        0.02000         Actual/360         No                       Fee                             JPMCB
   52            75,439        0.02000         Actual/360         No                       Fee                             JPMCB
   53            75,984        0.02000         Actual/360         No                       Fee                             JPMCB
   54            76,670        0.01000         Actual/360         No                       Fee                             JPMCB
   57            59,930        0.02000         Actual/360         No                       Fee                             JPMCB
   58            63,292        0.02000         Actual/360         No                       Fee                             JPMCB
   61            61,072        0.02000         Actual/360         No                       Fee                             JPMCB
   66            53,020        0.02000         Actual/360         No                       Fee                             JPMCB
   67            52,703        0.02000         Actual/360         No                       Fee                             JPMCB
   69            51,726        0.02000         Actual/360         No                       Fee                             JPMCB
   74            48,113        0.02000         Actual/360         No                       Fee                             JPMCB
   76            46,844        0.02000         Actual/360         No                       Fee                             JPMCB
   78            44,414        0.02000         Actual/360         No                       Fee                             JPMCB
   84            39,146        0.02000         Actual/360         No                       Fee                             JPMCB
   85            38,451        0.02000         Actual/360         No                       Fee                             JPMCB
   87            35,565        0.02000         Actual/360         No                       Fee                             JPMCB
   92            36,404        0.02000         Actual/360         No                       Fee                             JPMCB
   97            34,198        0.02000         Actual/360         No                       Fee                             JPMCB
   99            35,943        0.02000         Actual/360         No                       Fee                             JPMCB
  100            33,636        0.02000         Actual/360         No                       Fee                             JPMCB
  101            27,764        0.02000         Actual/360         No                       Fee                             JPMCB
  103            31,093        0.01000         Actual/360         No                       Fee                             JPMCB
  108            30,472        0.02000         Actual/360         No                       Fee                             JPMCB
  110            32,049        0.01000         Actual/360         No                       Fee                             JPMCB
  111            30,940        0.02000         Actual/360         No                       Fee                             JPMCB
  115            29,102        0.02000         Actual/360         No                       Fee                             JPMCB
  121            27,521        0.02000         Actual/360         No                       Fee                             JPMCB
  123            32,682        0.01000         Actual/360         No                       Fee                             JPMCB
  127            22,001        0.02000         Actual/360         No                       Fee                             JPMCB
  128            30,468        0.02000         Actual/360         No                       Fee                             JPMCB
  134            24,595        0.01000         Actual/360         No                       Fee                             JPMCB
  137            19,719        0.02000         Actual/360         No                       Fee                             JPMCB
  140            19,661        0.01000         Actual/360         No                       Fee                             JPMCB
  141            20,591        0.01000         Actual/360         No                       Fee                             JPMCB
  146            22,535        0.01000         Actual/360         No                       Fee                             JPMCB
  147            19,061        0.02000         Actual/360         No                       Fee                             JPMCB
  152            18,588        0.02000         Actual/360         No                       Fee                             JPMCB
  154            14,863        0.02000         Actual/360         No                       Fee                             JPMCB
  155            11,744        0.02000         Actual/360         No                       Fee                             JPMCB

<CAPTION>
   Loan #      Guarantor
-----------------------------------------------------------------------------------------------------------------------------------
<S>            <C>
      2        Brookfield Financial Properties, L.P.
      3        RREEF America REIT III, Inc.
    3.01
    3.02
    3.03
    3.04
    3.05
    3.06
    3.07
    3.08
    3.09
     3.1
    3.11
    3.12
    3.13
    3.14
    3.15
    3.16
    3.17
    3.18
     7*        Colony Capital
      7        Colony Capital
      8        Colony Capital
      9        Colony Capital
     10        Colony Capital
     11        Colony Capital
     12        Colony Capital
     13        Colony Capital
     14        Colony Capital
     15        Colony Capital
     16        Colony Capital
     17        Colony Capital
     18        Colony Capital
     19        Colony Capital
     20        Colony Capital
     21        Colony Capital
     22        Doyle Security Fund LLC and CNL Financial Group, Inc.
    22.01
    22.02
    22.03
    22.04
    22.05
    22.06
    22.07
    22.08
    22.09
    22.1
    22.11
    22.12
    22.13
     23        Feldman Equities Operating Partnership, LP
     25        Robert E. Price and Jon M. Harder
     30        Charles B. Neiss
    30.01
    30.02
     39        Meir Yuval and Jacob Sofer
     40        Joseph Sandner, III, Marc A. Eason, Mark D. Byers, R. William Pradat, Jr., Steven N. Tandet, Andrew L. Sink and E.
               Thornton Hydinger, Jr.
     41        Asset Capital Partners, L.P.
     48        Loanie T. Lam and Hung Cam Lam
     49        Robert Woolley and Mauricio Garza
     52        Asset Capital Partners, L.P.
     53        Jay B. Noddle and Joseph Kirschenbaum
     54        Robert J. Booth, Pamela M. Powell, Norbert T. Brauburger, Frederick Rusty Canevari, Lori D. Canevari, Dona L.
               Christenson, Barry R. Wallen, Christopher L. Comer, Michael W. Dreier, Debra E. Dreier, Alvin L. Franzen, Kathleen R.
               Franzen, Ashok Garg, Ian R. Hicks, Anne hicks, Raymond F. Hemry, Diane L. Hemry, Richard Hong Li, Lauren L. Locey,
               Cheryl A. Locey, Lawrence H. Nalbach, Steven L. Nartker, Heather A. Nartker, Andrew K. Nguyen, Evelyn L. Nguyen,
               Richard D. Patty, Cliff Poulton, Marijane Beighley Poulton, Steven S. Stielstra, michelle R. Hills, Kozen E.
               Tsukamoto, Janet Kiang Tsukamoto, Kazue Carol Tsukamoto, David Vendelin, Michelle K. Vendelin, Bruce Wasilewski,
               Janet G. Wright and Nathan W. Hanks
     57        L. Richard Wilkerson
     58        Joseph Kirshenbaum
     61        Noffsinger Manufacturing Co., Inc.
     66        Lawrence A. Debb, John Kosich and Gary Lundgren
     67        Newton Tran
     69        Mark R. Munsell
     74        Thomas F. Kuschinski and Iqbal Singh Uppal
     76        Wolfe Miller
     78        Hassan A. Diab and Najah A. Sharkia
     84        John E. Gross
     85        Stephen Lazovitz
     87        Joseph Kirshenbaum
     92        John M. Cioe, Robert R. Cioe and Robert A. Cioe
     97        David Scott Watson
     99        John M. Schottenstein and Reginald Winssinger
     100       Larry D. Wink, Kenneth J. WInk, Michael H. Wink, Michele W. Vignes and Joseph C. Wink, III
     101       TRPF / 1252 Orleans, LLC
     103       Corbett J. Donato
     108       Alan R. Hammerschlag
     110       Clinton L. Glasscock, S. Brooks May, Jr., Daniel W. McMahan, Jimmy Dan Conner, William J. Roby, SR. and William J.
               Roby, Jr.
     111       Roger B. Wade
     115       Stephen Lazovitz
     121       Robert Gibbs and Matthew Sanchez
     123       Chester W. Musselman, Thomas A. Musselman, Jr. and Mark Wheeler
     127       Missing Guaranty
     128       David J. Kanach and Paula C. Kanach
     134       Robert M. Rogers
     137       Asset Capital Partners, L.P.
     140       Michael J. Arnold, Richard G. Arnold, and Bernard A. Ruocco
     141       Howard K. Vogt
     146       Pankaj Patel and Ramila Patel
     147       Stephen J. Dwyer and Susan Dwyer
     152       Steven A. Irace and Eugene Irace
     154       Shirley Valenziano, Gary Valenziano, Jodi Valenziano, Patricia Valenziano and Gregg Valenziano
     155       Gregory F. Perlman and GH Capital LLC

<CAPTION>
                                Upfront           Upfront       Upfront     Upfront            Upfront       Upfront       Upfront
                Letter of        CapEx              Eng.         Envir.      TI/LC              RE Tax         Ins.         Other
   Loan #        Credit         Reserve           Reserve       Reserve     Reserve            Reserve       Reserve       Reserve
------------------------------------------------------------------------------------------------------------------------------------
<S>                <C>           <C>                <C>           <C>     <C>                    <C>          <C>           <C>
     2             No            0.00               0.00          0.00    7,655,074.43           0.00         0.00          0.00
     3             No            0.00               0.00          0.00        0.00               0.00         0.00          0.00
    3.01           No
    3.02           No
    3.03           No
    3.04           No
    3.05           No
    3.06           No
    3.07           No
    3.08           No
    3.09           No
    3.1            No
    3.11           No
    3.12           No
    3.13           No
    3.14           No
    3.15           No
    3.16           No
    3.17           No
    3.18           No
     7*            No            0.00               0.00          0.00        0.00               0.00         0.00          0.00
     7             No            0.00               0.00          0.00        0.00               0.00         0.00          0.00
     8             No            0.00               0.00          0.00        0.00               0.00         0.00          0.00
     9             No            0.00               0.00          0.00        0.00               0.00         0.00          0.00
     10            No            0.00               0.00          0.00        0.00               0.00         0.00          0.00
     11            No            0.00               0.00          0.00        0.00               0.00         0.00          0.00
     12            No            0.00               0.00          0.00        0.00               0.00         0.00          0.00
     13            No            0.00               0.00          0.00        0.00               0.00         0.00          0.00
     14            No            0.00               0.00          0.00        0.00               0.00         0.00          0.00
     15            No            0.00               0.00          0.00        0.00               0.00         0.00          0.00
     16            No            0.00               0.00          0.00        0.00               0.00         0.00          0.00
     17            No            0.00               0.00          0.00        0.00               0.00         0.00          0.00
     18            No            0.00               0.00          0.00        0.00               0.00         0.00          0.00
     19            No            0.00               0.00          0.00        0.00               0.00         0.00          0.00
     20            No            0.00               0.00          0.00        0.00               0.00         0.00          0.00
     21            No            0.00               0.00          0.00        0.00               0.00         0.00          0.00
     22            No            0.00          23,875.00    370,000.00     708,000.00            0.00         0.00          0.00
   22.01           No
   22.02           No
   22.03           No
   22.04           No
   22.05           No
   22.06           No
   22.07           No
   22.08           No
   22.09           No
    22.1           No
   22.11           No
   22.12           No
   22.13           No
     23            No            0.00               0.00          0.00        0.00               0.00         0.00          0.00
     25            No            0.00               0.00          0.00    2,283,000.00     244,962.36    24,561.00          0.00
     30            No            0.00               0.00          0.00        0.00               0.00         0.00          0.00
   30.01           No
   30.02           No
     39            No            0.00           5,437.50          0.00        0.00          33,467.23    17,437.00          0.00
     40            No            0.00               0.00          0.00     114,000.00      174,475.44    32,331.75          0.00
     41            No            0.00               0.00          0.00     100,000.00            0.00         0.00          0.00
     48            No            0.00           6,450.00          0.00        0.00          80,137.53     3,790.91          0.00
     49            No            0.00               0.00          0.00        0.00         235,716.22    35,872.00          0.00
     52            No            0.00               0.00          0.00     300,000.00            0.00         0.00          0.00
     53            No            0.00               0.00          0.00     360,429.00       40,551.16         0.00          0.00
     54            No            0.00               0.00          0.00        0.00         122,223.97    10,140.00          0.00
     57            No            0.00         187,000.00          0.00     128,488.13            0.00    16,877.00          0.00
     58            No            0.00               0.00          0.00        0.00          13,952.70         0.00          0.00
     61            No            0.00               0.00          0.00        0.00         183,984.95    10,927.92          0.00
     66            No            0.00               0.00          0.00        0.00          18,730.94     2,479.00          0.00
     67            No            0.00          24,750.00          0.00        0.00          57,412.50     4,625.00          0.00
     69            No            0.00           4,500.00          0.00     400,000.00       35,832.30    16,853.47          0.00
     74            No            0.00               0.00          0.00        0.00          20,055.29    37,663.24          0.00
     76            No            0.00          81,909.00          0.00     135,000.00       58,848.11     4,260.83     61,160.00
     78            No         144,140.00            0.00          0.00     370,860.00       35,149.66     2,305.83          0.00
     84            No            0.00           3,187.50          0.00        0.00         120,247.26     2,645.75          0.00
     85            No            0.00               0.00          0.00        0.00          10,014.77     9,250.00          0.00
     87            No            0.00               0.00     46,580.00      50,000.00        9,234.04         0.00          0.00
     92            No          17,901.00       14,938.75          0.00     200,000.00       65,470.82     3,462.66          0.00
     97            No            0.00               0.00          0.00      70,000.00       60,003.42     7,905.09     18,412.50
     99            No            0.00               0.00          0.00        0.00          30,216.61    16,193.33          0.00
    100            No            0.00          10,625.00          0.00        0.00          72,418.67     8,115.32          0.00
    101            No            0.00               0.00          0.00        0.00          23,688.50     5,866.83          0.00
    103            No            0.00               0.00          0.00        0.00           4,162.78    12,554.75          0.00
    108            No          50,000.00            0.00          0.00        0.00          16,068.28     6,719.17          0.00
    110        1,100,000.0       0.00               0.00          0.00        0.00          56,512.50     5,126.92          0.00
    111            No            0.00               0.00          0.00     150,000.00       22,545.57     3,558.33          0.00
    115            No            0.00               0.00          0.00        0.00           6,894.50     4,300.00          0.00
    121            No            0.00               0.00          0.00        0.00          30,074.33     4,009.00          0.00
    123            No            0.00               0.00          0.00        0.00          21,083.33    17,441.25          0.00
    127            No            0.00               0.00          0.00        0.00          22,091.50     5,866.83          0.00
    128            No            0.00               0.00          0.00        0.00               0.00         0.00          0.00
    134            No            0.00          46,233.00          0.00        0.00          31,526.81     3,559.50          0.00
    137            No            0.00               0.00          0.00     200,000.00            0.00         0.00          0.00
    140            No            0.00               0.00          0.00      75,000.00            0.00       644.75          0.00
    141            No            0.00               0.00          0.00        0.00          30,258.00     1,649.75          0.00
    146            No            0.00          18,250.00          0.00        0.00          61,909.48    33,408.85    441,250.00
    147            No            0.00           1,000.00          0.00        0.00          13,249.10     5,674.00          0.00
    152            No            0.00         153,938.00          0.00        0.00          18,819.07     1,471.81          0.00
    154            No            0.00               0.00          0.00      25,000.00       11,416.14     6,277.33          0.00
    155            No            0.00           5,000.00          0.00        0.00          11,105.59    13,459.42      1,750.00

<CAPTION>
           Monthly       Monthly       Monthly      Monthly       Monthly    Monthly
            Capex         Envir.        TI/LC       RE Tax          Ins.      Other    Grace    Lockbox      Property     Defeasance
 Loan #    Reserve       Reserve       Reserve      Reserve       Reserve    Reserve   Period   In-place       Type       Permitted
------------------------------------------------------------------------------------------------------------------------------------
<S>          <C>          <C>           <C>          <C>           <C>     <C>           <C>     <C>           <C>            <C>
   2         0.00         0.00          0.00         0.00          0.00    579720.68     0       Yes           Office         Yes
   3         0.00         0.00          0.00         0.00          0.00         0.00     0       Yes           Office         Yes
  3.01                                                                                   0                     Office
  3.02                                                                                   0                     Office
  3.03                                                                                   0                     Office
  3.04                                                                                   0                     Office
  3.05                                                                                   0                     Office
  3.06                                                                                   0                     Office
  3.07                                                                                   0                     Office
  3.08                                                                                   0                     Office
  3.09                                                                                   0                     Office
  3.1                                                                                    0                     Office
  3.11                                                                                   0                     Office
  3.12                                                                                   0                     Office
  3.13                                                                                   0                     Office
  3.14                                                                                   0                     Office
  3.15                                                                                   0                     Office
  3.16                                                                                   0                     Office
  3.17                                                                                   0                     Office
  3.18                                                                                   0                     Office
   7*        0.00         0.00          0.00         0.00          0.00         0.00     0       Yes           Various        Yes
   7         0.00         0.00          0.00         0.00          0.00         0.00     0       Yes           Office         Yes
   8         0.00         0.00          0.00         0.00          0.00         0.00     0       Yes         Industrial       Yes
   9         0.00         0.00          0.00         0.00          0.00         0.00     0       Yes         Industrial       Yes
   10        0.00         0.00          0.00         0.00          0.00         0.00     0       Yes           Office         Yes
   11        0.00         0.00          0.00         0.00          0.00         0.00     0       Yes         Industrial       Yes
   12        0.00         0.00          0.00         0.00          0.00         0.00     0       Yes         Industrial       Yes
   13        0.00         0.00          0.00         0.00          0.00         0.00     0       Yes         Industrial       Yes
   14        0.00         0.00          0.00         0.00          0.00         0.00     0       Yes         Industrial       Yes
   15        0.00         0.00          0.00         0.00          0.00         0.00     0       Yes         Industrial       Yes
   16        0.00         0.00          0.00         0.00          0.00         0.00     0       Yes         Industrial       Yes
   17        0.00         0.00          0.00         0.00          0.00         0.00     0       Yes         Industrial       Yes
   18        0.00         0.00          0.00         0.00          0.00         0.00     0       Yes         Industrial       Yes
   19        0.00         0.00          0.00         0.00          0.00         0.00     0       Yes         Industrial       Yes
   20        0.00         0.00          0.00         0.00          0.00         0.00     0       Yes         Industrial       Yes
   21        0.00         0.00          0.00         0.00          0.00         0.00     0       Yes         Industrial       Yes
   22        0.00         0.00      41667.00         0.00          0.00         0.00     0       Yes           Various        Yes
 22.01                                                                                   0                   Industrial
 22.02                                                                                   0                   Industrial
 22.03                                                                                   0                     Office
 22.04                                                                                   0                     Office
 22.05                                                                                   0                     Office
 22.06                                                                                   0                   Industrial
 22.07                                                                                   0                   Industrial
 22.08                                                                                   0                   Industrial
 22.09                                                                                   0                   Industrial
  22.1                                                                                   0                   Industrial
 22.11                                                                                   0                   Industrial
 22.12                                                                                   0                   Industrial
 22.13                                                                                   0                   Industrial
   23        0.00         0.00          0.00         0.00          0.00         0.00     5       Yes           Retail         Yes
   25     7575.38         0.00      30766.00     40827.06          0.00         0.00     7       No            Office         Yes
   30     1021.05         0.00          0.00         0.00          0.00         0.00     0       Yes           Various        Yes
 30.01                                                                                   0                     Office
 30.02                                                                                   0                   Industrial
   39     7920.00         0.00          0.00      8366.81       5812.33         0.00     10      No          Multifamily      Yes
   40     4467.00         0.00       8040.00     21809.43       3592.42         0.00     7       No          Industrial       Yes
   41     2576.00         0.00          0.00     24420.24          0.00         0.00     7       No            Office         Yes
   48     3657.68         0.00          0.00     20034.38       3790.91         0.00     7       No          Multifamily      Yes
   49     1588.50         0.00          0.00     39286.03       2989.33         0.00     10      Yes           Office         Yes
   52     2562.00         0.00          0.00     20500.00       2203.92         0.00     7       No            Office         Yes
   53      338.92         0.00       2083.33     13517.05          0.00         0.00     7       No            Retail         No
   54     4600.00         0.00          0.00     17460.57       5070.00         0.00     7       No          Multifamily      Yes
   57      322.18         0.00       4188.28      4153.50       2411.00         0.00     7       No           Mixed Use       Yes
   58      458.33         0.00          0.00      4650.90          0.00         0.00     7       No            Retail         No
   61     1377.74         0.00       5000.00     30664.16       2185.58         0.00     7       No            Office         Yes
   66      270.83         0.00       5029.50     18730.94        826.33         0.00     7       No            Office         Yes
   67      655.33         0.00       2184.00     11482.50       1541.67         0.00     10      No            Retail         Yes
   69     1620.00         0.00      15000.00     17916.15       1532.13         0.00     10      No            Office         Yes
   74     3914.07         0.00          0.00     20055.29       3766.32         0.00     7       No          Multifamily      Yes
   76        0.00         0.00          0.00     11769.82        426.08      1683.17     7       No            Retail         No
   78        0.00         0.00          0.00      8787.41       1152.91         0.00     7       No          Industrial       Yes
   84        0.00         0.00       1667.00     20041.21        881.92         0.00     10      No            Retail         No
   85     1216.67         0.00       3333.33     10014.77        770.83         0.00     7       No            Office         Yes
   87      669.64         0.00       3334.00      9234.04          0.00         0.00     7       No            Retail         No
   92     1272.27         0.00       6435.42      9352.97       1731.33         0.00     7       No          Industrial       Yes
   97      291.75         0.00          0.00      8571.92       1317.52         0.00     7       No            Retail         Yes
   99     1177.83         0.00       4038.00      6043.32       1619.33         0.00     7       No            Retail         Yes
  100      651.92         0.00       2607.83      9052.33       2705.11         0.00     7       No            Office         Yes
  101        0.00         0.00          0.00      7896.17       1466.71         0.00     7       Yes         Industrial       No
  103      280.00         0.00       2084.00      1387.59        965.75         0.00     7       No            Office         Yes
  108        0.00         0.00          0.00      3213.66        610.83         0.00     7       No            Retail         Yes
  110        0.00         0.00          0.00      5651.25       1025.38         0.00     7       No            Office         Yes
  111      480.00         0.00          0.00      4509.11        711.67         0.00     7       No            Office         Yes
  115      796.08         0.00       3333.33      6894.50        358.33         0.00     7       No            Office         Yes
  121        0.00         0.00          0.00      7518.58        668.16         0.00     7       No            Retail         Yes
  123     4959.00         0.00          0.00         0.00          0.00         0.00     7       No             Hotel         Yes
  127        0.00         0.00          0.00      7363.83       1466.71         0.00     7       Yes         Industrial       No
  128        0.00         0.00          0.00         0.00          0.00         0.00     7       No            Retail         Yes
  134     4753.01         0.00          0.00      3502.98          0.00         0.00     7       No             Hotel         Yes
  137      183.00         0.00       8333.33      2479.61        389.75         0.00     7       No            Office         Yes
  140        0.00         0.00          0.00      2326.92        214.92       363.00     7       No            Office         Yes
  141      331.58         0.00       1093.00      3362.00        549.92         0.00     7       No            Office         Yes
  146     6915.00         0.00          0.00      5159.12       3340.88      6915.00     7       No             Hotel         Yes
  147      854.17         0.00          0.00      1472.12        945.67         0.00     7       No         Self Storage      Yes
  152        0.00         0.00          0.00      3763.81        490.60         0.00     7       No            Office         Yes
  154      453.11         0.00       2083.33      1902.69        570.66         0.00     7       No            Retail         Yes
  155     1928.00         0.00          0.00      2776.40       1223.58         0.00     7       No          Multifamily      Yes

<CAPTION>
                                                           Remaining
                  Interest                 Final         Amortization
                  Accrual       Loan      Maturity         Term for
   Loan #          Period       Group       Date         Balloon Loans
---------------------------------------------------------------------------
<S>              <C>            <C>       <C>            <C>
     2           Actual/360       1
     3           Actual/360       1
    3.01                          1
    3.02                          1
    3.03                          1
    3.04                          1
    3.05                          1
    3.06                          1
    3.07                          1
    3.08                          1
    3.09                          1
    3.1                           1
    3.11                          1
    3.12                          1
    3.13                          1
    3.14                          1
    3.15                          1
    3.16                          1
    3.17                          1
    3.18                          1
     7*          Actual/360       1
     7           Actual/360       1
     8           Actual/360       1
     9           Actual/360       1
     10          Actual/360       1
     11          Actual/360       1
     12          Actual/360       1
     13          Actual/360       1
     14          Actual/360       1
     15          Actual/360       1
     16          Actual/360       1
     17          Actual/360       1
     18          Actual/360       1
     19          Actual/360       1
     20          Actual/360       1
     21          Actual/360       1
     22          Actual/360       1                           360
   22.01                          1                           360
   22.02                          1                           360
   22.03                          1                           360
   22.04                          1                           360
   22.05                          1                           360
   22.06                          1                           360
   22.07                          1                           360
   22.08                          1                           360
   22.09                          1                           360
    22.1                          1                           360
   22.11                          1                           360
   22.12                          1                           360
   22.13                          1                           360
     23          Actual/360       1                           360
     25          Actual/360       1                           360
     30          Actual/360       1                           360
   30.01                          1                           360
   30.02                          1                           360
     39          Actual/360       2                           360
     40          Actual/360       1                           360
     41          Actual/360       1                           360
     48          Actual/360       2                           360
     49          Actual/360       1                           360
     52          Actual/360       1                           360
     53          Actual/360       1                           360
     54          Actual/360       2                           360
     57          Actual/360       1                           360
     58          Actual/360       1                           360
     61          Actual/360       1                           360
     66          Actual/360       1                           360
     67          Actual/360       1                           360
     69          Actual/360       1                           360
     74          Actual/360       2                           360
     76          Actual/360       1                           360
     78          Actual/360       1                           360
     84          Actual/360       1                           360
     85          Actual/360       1                           360
     87          Actual/360       1                           360
     92          Actual/360       1                           360
     97          Actual/360       1                           360
     99          Actual/360       1                           300
    100          Actual/360       1                           360
    101          Actual/360       1
    103          Actual/360       1                           360
    108          Actual/360       1                           360
    110          Actual/360       1                           360
    111          Actual/360       1                           360
    115          Actual/360       1                           360
    121          Actual/360       1                           360
    123          Actual/360       1                           240
    127          Actual/360       1
    128          Actual/360       1                           240
    134          Actual/360       1                           300
    137          Actual/360       1                           360
    140          Actual/360       1                           360
    141          Actual/360       1                           336
    146          Actual/360       1                           240
    147          Actual/360       1                           360
    152          Actual/360       1                           240
    154          Actual/360       1                           360
    155          Actual/360       2                           360
</TABLE>

<PAGE>

                                    EXHIBIT B

                  MORTGAGE LOAN REPRESENTATIONS AND WARRANTIES

            (1) No Mortgage Loan is 30 days or more delinquent in payment of
principal and interest (without giving effect to any applicable grace period in
the related Mortgage Note) and no Mortgage Loan has been 30 days or more
(without giving effect to any applicable grace period in the related Mortgage
Note) past due.

            (2) Except with respect to the ARD Loans, which provide that the
rate at which interest accrues thereon increases after the Anticipated Repayment
Date, the Mortgage Loans (exclusive of any default interest, late charges or
prepayment premiums) are fixed rate mortgage loans with terms to maturity, at
origination or as of the most recent modification, as set forth in the Mortgage
Loan Schedule.

            (3) The information pertaining to each Mortgage Loan set forth on
the Mortgage Loan Schedule is true and correct in all material respects as of
the Cut-off Date.

            (4) At the time of the assignment of the Mortgage Loans to the
Purchaser, the Seller had good and marketable title to and was the sole owner
and holder of, each Mortgage Loan, free and clear of any pledge, lien,
encumbrance or security interest (subject to certain agreements regarding
servicing as provided in the Pooling and Servicing Agreement, subservicing
agreements permitted thereunder and that certain Servicing Rights Purchase
Agreement, dated as of the Closing Date between the applicable Master Servicer
and Seller) and such assignment validly and effectively transfers and conveys
all legal and beneficial ownership of the Mortgage Loans to the Purchaser free
and clear of any pledge, lien, encumbrance or security interest (subject to
certain agreements regarding servicing as provided in the Pooling and Servicing
Agreement, subservicing agreements permitted thereunder and that certain
Servicing Rights Purchase Agreement, dated as of the Closing Date between the
applicable Master Servicer and Seller).

            (5) In respect of each Mortgage Loan, (A) in reliance on public
documents or certified copies of the incorporation or partnership or other
entity documents, as applicable, delivered in connection with the origination of
such Mortgage Loan, the related Mortgagor is an entity organized under the laws
of a state of the United States of America, the District of Columbia or the
Commonwealth of Puerto Rico and (B) as of the origination date, the Seller
(based on customary due diligence) had no knowledge, and since the origination
date, the Seller has no actual knowledge, that the related Mortgagor is a debtor
in any bankruptcy, receivership, conservatorship, reorganization, insolvency,
moratorium or similar proceeding.

            (6) Each Mortgage Loan is secured by the related Mortgage which
establishes and creates a valid and subsisting first priority lien on the
related Mortgaged Property, or leasehold interest therein, comprising real
estate, free and clear of any liens, claims, encumbrances, participation
interests, pledges, charges or security interests subject only to Permitted
Encumbrances. Such Mortgage, together with any separate security agreement, UCC
Financing Statement or similar agreement, if any, establishes and creates a
first priority security interest in favor of the Seller in all personal property
owned by the Mortgagor that is used in, and is reasonably necessary to, the
operation of the related Mortgaged Property and, to the extent a security
interest may be created therein and perfected by the filing of a UCC Financing
Statement under the Uniform Commercial Code as in effect in the relevant
jurisdiction, the proceeds arising from the Mortgaged Property and other
collateral securing such Mortgage Loan, subject only to Permitted Encumbrances.
There exists with respect to such Mortgaged Property an assignment of leases and
rents provision, either as part of the related Mortgage or as a separate
document or instrument, which establishes and creates a first priority security
interest in and to leases and rents arising in respect of the related Mortgaged
Property, subject only to Permitted Encumbrances. Except for the holder of the
Companion Loan with respect to the AB Mortgage Loans, to the Seller's knowledge,
no person other than the related Mortgagor and the mortgagee own any interest in
any payments due under the related leases. The related Mortgage or such
assignment of leases and rents provision provides for the appointment of a
receiver for rents or allows the holder of the related Mortgage to enter into
possession of the related Mortgaged Property to collect rent or provides for
rents to be paid directly to the holder of the related Mortgage in the event of
a default beyond applicable notice and grace periods, if any, under the related
Mortgage Loan documents. As of the origination date, there were, and, to the
Seller's actual knowledge as of the Closing Date, there are, no mechanics' or
other similar liens or claims which have been filed for work, labor or materials
affecting the related Mortgaged Property which are or may be prior or equal to
the lien of the Mortgage, except those that are bonded or escrowed for or which
are insured against pursuant to the applicable Title Insurance Policy (as
defined below) and except for Permitted Encumbrances. No (a) Mortgaged Property
secures any mortgage loan not represented on the Mortgage Loan Schedule other
than a Companion Loan, (b) Mortgage Loan is cross-collateralized or
cross-defaulted with any other mortgage loan, other than a Mortgage Loan listed
on the Mortgage Loan Schedule or a Companion Loan, or (c) Mortgage Loan is
secured by property that is not a Mortgaged Property. Notwithstanding the
foregoing, no representation is made as to the perfection of any security
interest in rent, operating revenues or other personal property to the extent
that possession or control of such items or actions other than the recordation
of the Mortgage or the Assignment of Leases and Rents or the filing of UCC
Financing Statements are required in order to effect such perfection.

            (7) The related Mortgagor under each Mortgage Loan has good and
indefeasible fee simple or, with respect to those Mortgage Loans described in
clause (20) hereof, leasehold title to the related Mortgaged Property comprising
real estate subject to any Permitted Encumbrances.

            (8) The Seller has received an American Land Title Association
(ALTA) lender's title insurance policy or a comparable form of lender's title
insurance policy (or escrow instructions binding on the Title Insurer (as
defined below) and irrevocably obligating the Title Insurer to issue such title
insurance policy or a title policy commitment or pro-forma "marked up" at the
closing of the related Mortgage Loan and countersigned or otherwise approved by
the Title Insurer or its authorized agent) as adopted in the applicable
jurisdiction (the "Title Insurance Policy"), which was issued by a nationally
recognized title insurance company (the "Title Insurer") qualified to do
business in the jurisdiction where the applicable Mortgaged Property is located
(unless such jurisdiction is the State of Iowa), covering the portion of each
Mortgaged Property comprised of real estate and insuring that the related
Mortgage is a valid first lien in the original principal amount of the related
Mortgage Loan on the Mortgagor's fee simple interest (or, if applicable,
leasehold interest) in such Mortgaged Property comprised of real estate, subject
only to Permitted Encumbrances. Such Title Insurance Policy was issued in
connection with the origination of the related Mortgage Loan. No claims have
been made under such Title Insurance Policy. Such Title Insurance Policy is in
full force and effect and all premiums thereon have been paid and will provide
that the insured includes the owner of the Mortgage Loan and its successors
and/or assigns. No holder of the related Mortgage has done, by act or omission,
anything that would, and the Seller has no actual knowledge of any other
circumstance that would, impair the coverage under such Title Insurance Policy.

            (9) The related Assignment of Mortgage and the related assignment of
the Assignment of Leases and Rents executed in connection with each Mortgage, if
any, have been recorded in the applicable jurisdiction (or, if not recorded,
have been submitted for recording or are in recordable form (but for the
insertion of the name and address of the assignee and any related recording
information which is not yet available to the Seller)) and constitute the legal,
valid and binding assignment of such Mortgage and the related Assignment of
Leases and Rents from the Seller to the Purchaser. The endorsement of the
related Mortgage Note by the Seller constitutes the legal, valid, binding and
enforceable (except as such enforcement may be limited by anti-deficiency laws
or bankruptcy, receivership, conservatorship, reorganization, insolvency,
moratorium or other similar laws affecting the enforcement of creditors' rights
generally, and by general principles of equity (regardless of whether such
enforcement is considered in a proceeding in equity or at law)) assignment of
such Mortgage Note, and together with such Assignment of Mortgage and the
related assignment of Assignment of Leases and Rents, legally and validly
conveys all right, title and interest in such Mortgage Loan and Mortgage Loan
documents to the Purchaser.

            (10) (a) The Mortgage Loan documents for each Mortgage Loan provide
that such Mortgage Loan is non-recourse to the related parties thereto except
that the related Mortgagor and at least one individual or entity shall be fully
liable for actual losses, liabilities, costs and damages arising from certain
acts of the related Mortgagor and/or its principals specified in the related
Mortgage Loan documents, which acts generally include the following: (i) fraud
or intentional material misrepresentation, (ii) misapplication or
misappropriation of rents, insurance proceeds or condemnation awards, (iii)
either (x) any act of actual waste by or (y) damage or destruction to the
Mortgaged Property caused by the acts or omissions of the borrower, its agents,
employees or contractors, and (iv) any breach of the environmental covenants
contained in the related Mortgage Loan documents.

            (b) The Mortgage Loan documents for each Mortgage Loan contain
      enforceable provisions such as to render the rights and remedies of the
      holder thereof adequate for the practical realization against the
      Mortgaged Property of the principal benefits of the security intended to
      be provided thereby, including realization by judicial or, if applicable,
      non judicial foreclosure, and there is no exemption available to the
      related Mortgagor which would interfere with such right of foreclosure
      except any statutory right of redemption or as may be limited by
      anti-deficiency or one form of action laws or by bankruptcy, receivership,
      conservatorship, reorganization, insolvency, moratorium or other similar
      laws affecting the enforcement of creditors' rights generally, and by
      general principles of equity (regardless of whether such enforcement is
      considered in a proceeding in equity or at law).

            (c) Each of the related Mortgage Notes and Mortgages are the legal,
      valid and binding obligations of the related Mortgagor named on the
      Mortgage Loan Schedule and each of the other related Mortgage Loan
      documents is the legal, valid and binding obligation of the parties
      thereto (subject to any non recourse provisions therein), enforceable in
      accordance with its terms, except as such enforcement may be limited by
      anti-deficiency or one form of action laws or bankruptcy, receivership,
      conservatorship, reorganization, insolvency, moratorium or other similar
      laws affecting the enforcement of creditors' rights generally, and by
      general principles of equity (regardless of whether such enforcement is
      considered in a proceeding in equity or at law), and except that certain
      provisions of such Mortgage Loan documents are or may be unenforceable in
      whole or in part under applicable state or federal laws, but the inclusion
      of such provisions does not render any of the Mortgage Loan documents
      invalid as a whole, and such Mortgage Loan documents taken as a whole are
      enforceable to the extent necessary and customary for the practical
      realization of the principal rights and benefits afforded thereby.

            (d) The terms of the Mortgage Loans or the related Mortgage Loan
      documents, have not been altered, impaired, modified or waived in any
      material respect, except prior to the Cut-off Date by written instrument
      duly submitted for recordation, to the extent required, and as
      specifically set forth in the related Mortgage File.

            (e) With respect to each Mortgage which is a deed of trust, a
      trustee, duly qualified under applicable law to serve as such, currently
      so serves and is named in the deed of trust or may be substituted in
      accordance with applicable law, and no fees or expenses are or will become
      payable to the trustee under the deed of trust, except in connection with
      a trustee's sale after default by the Mortgagor and de minimis fees paid
      in connection with the release of the related Mortgaged Property or
      related security for such Mortgage Loan following payment of such Mortgage
      Loan in full.

            (11) Except by a written instrument that has been delivered to the
Purchaser as a part of the related Mortgage File with respect to any immaterial
releases of the Mortgaged Property, no Mortgage Loan has been satisfied,
canceled, subordinated, released or rescinded, in whole or in part, and the
related Mortgagor has not been released, in whole or in part, from its
obligations under any related Mortgage Loan document.

            (12) Except with respect to the enforceability of any provisions
requiring the payment of default interest, late fees, additional interest,
prepayment premiums or yield maintenance charges, neither the Mortgage Loan nor
any of the related Mortgage Loan documents is subject to any right of
rescission, set off, abatement, diminution, valid counterclaim or defense,
including the defense of usury, nor will the operation of any of the terms of
any such Mortgage Loan documents, or the exercise (in compliance with procedures
permitted under applicable law) of any right thereunder, render any Mortgage
Loan documents subject to any right of rescission, set off, abatement,
diminution, valid counterclaim or defense, including the defense of usury
(subject to anti-deficiency or one form of action laws and to bankruptcy,
receivership, conservatorship, reorganization, insolvency, moratorium or other
similar laws affecting the enforcement of creditor's rights generally and to
general principles of equity (regardless of whether such enforcement is
considered in a proceeding in equity or at law)), and no such right of
rescission, set off, abatement, diminution, valid counterclaim or defense has
been asserted with respect thereto. None of the Mortgage Loan documents provides
for a release of a portion of the Mortgaged Property from the lien of the
Mortgage except upon payment or defeasance in full of all obligations under the
Mortgage, provided that, notwithstanding the foregoing, certain of the Mortgage
Loans may allow partial release (a) upon payment or defeasance of an Allocated
Loan Amount which may be formula based, but in no event less than 125% of the
Allocated Loan Amount, or (b) in the event the portion of the Mortgaged Property
being released was not given any material value in connection with the
underwriting or appraisal of the related Mortgage Loan.

            (13) As of the Closing Date, there is no payment default, after
giving effect to any applicable notice and/or grace period, and, to the Seller's
knowledge, as of the Closing Date, there is no other material default under any
of the related Mortgage Loan documents, after giving effect to any applicable
notice and/or grace period; no such material default or breach has been waived
by the Seller or on its behalf or, to the Seller's knowledge, by the Seller's
predecessors in interest with respect to the Mortgage Loans; and, to the
Seller's actual knowledge, no event has occurred which, with the passing of time
or giving of notice would constitute a material default or breach; provided,
however, that the representations and warranties set forth in this sentence do
not cover any default, breach, violation or event of acceleration that
specifically pertains to or arises out of any subject matter otherwise covered
by any other representation or warranty made by the Seller in this Exhibit B. No
Mortgage Loan has been accelerated and no foreclosure proceeding or power of
sale proceeding has been initiated under the terms of the related Mortgage Loan
documents. The Seller has not waived any material claims against the related
Mortgagor under any non-recourse exceptions contained in the Mortgage Note.

            (14) (a) The principal amount of the Mortgage Loan stated on the
Mortgage Loan Schedule has been fully disbursed as of the Closing Date (except
for certain amounts that were fully disbursed by the mortgagee, but were
escrowed pursuant to the terms of the related Mortgage Loan documents) and there
are no future advances required to be made by the mortgagee under any of the
related Mortgage Loan documents. Any requirements under the related Mortgage
Loan documents regarding the completion of any on-site or off-site improvements
and to disbursements of any escrow funds therefor have been or are being
complied with or such escrow funds are still being held. The value of the
Mortgaged Property relative to the value reflected in the most recent appraisal
thereof is not materially impaired by any improvements which have not been
completed. The Seller has not, nor, to the Seller's knowledge, have any of its
agents or predecessors in interest with respect to the Mortgage Loan, in respect
of payments due on the related Mortgage Note or Mortgage, directly or
indirectly, advanced funds or induced, solicited or knowingly received any
advance of funds by a party other than the Mortgagor other than (a) interest
accruing on such Mortgage Loan from the date of such disbursement of such
Mortgage Loan to the date which preceded by thirty (30) days the first payment
date under the related Mortgage Note and (b) application and commitment fees,
escrow funds, points and reimbursements for fees and expenses, incurred in
connection with the origination and funding of the Mortgage Loan.

            (b) No Mortgage Loan has capitalized interest included in its
      principal balance, or provides for any shared appreciation rights or other
      equity participation therein and no contingent or additional interest
      contingent on cash flow or negative amortization (other than with respect
      to the deferment of payment with respect to ARD Loans) is due thereon.

            (c) Each Mortgage Loan identified in the Mortgage Loan Schedule as
      an ARD Loan starts to amortize no later than the Due Date of the calendar
      month immediately after the calendar month in which such ARD Loan closed
      and substantially fully amortizes over its stated term, which term is at
      least 60 months after the related Anticipated Repayment Date. Each ARD
      Loan has an Anticipated Repayment Date not less than seven years following
      the origination of such Mortgage Loan. If the related Mortgagor elects not
      to prepay its ARD Loan in full on or prior to the Anticipated Repayment
      Date pursuant to the existing terms of the Mortgage Loan or a unilateral
      option (as defined in Treasury Regulations under Section 1001 of the Code)
      in the Mortgage Loan exercisable during the term of the Mortgage Loan, (i)
      the Mortgage Loan's interest rate will step up to an interest rate per
      annum as specified in the related Mortgage Loan documents; provided,
      however, that payment of such Excess Interest shall be deferred until the
      principal of such ARD Loan has been paid in full; (ii) all or a
      substantial portion of the Excess Cash Flow (which is net of certain costs
      associated with owning, managing and operating the related Mortgaged
      Property) collected after the Anticipated Repayment Date shall be applied
      towards the prepayment of such ARD Loan and once the principal balance of
      an ARD Loan has been reduced to zero all Excess Cash Flow will be applied
      to the payment of accrued Excess Interest; and (iii) if the property
      manager for the related Mortgaged Property can be removed by or at the
      direction of the mortgagee on the basis of a debt service coverage test,
      the subject debt service coverage ratio shall be calculated without taking
      account of any increase in the related Mortgage Interest Rate on such
      Mortgage Loan's Anticipated Repayment Date. No ARD Loan provides that the
      property manager for the related Mortgaged Property can be removed by or
      at the direction of the mortgagee solely because of the passage of the
      related Anticipated Repayment Date.

            (d) Each Mortgage Loan identified in the Mortgage Loan Schedule as
      an ARD Loan with a hard lockbox requires that tenants at the related
      Mortgaged Property shall (and each Mortgage Loan identified in the
      Mortgage Loan Schedule as an ARD Loan with a springing lockbox requires
      that tenants at the related Mortgaged Property shall, upon the occurrence
      of a specified trigger event, including, but not limited to, the
      occurrence of the related Anticipated Repayment Date) make rent payments
      into a lockbox controlled by the holder of the Mortgage Loan and to which
      the holder of the Mortgage Loan has a first perfected security interest;
      provided, however, with respect to each ARD Loan which is secured by a
      multi-family property with a hard lockbox, or with respect to each ARD
      Loan which is secured by a multi-family property with a springing lockbox,
      upon the occurrence of a specified trigger event, including, but not
      limited to, the occurrence of the related Anticipated Repayment Date,
      tenants either pay rents to a lockbox controlled by the holder of the
      Mortgage Loan or deposit rents with the property manager who will then
      deposit the rents into a lockbox controlled by the holder of the Mortgage
      Loan.

            (15) The terms of the Mortgage Loan documents evidencing such
Mortgage Loan comply in all material respects with all applicable local, state
and federal laws and regulations, and the Seller has complied with all material
requirements pertaining to the origination of the Mortgage Loans, including but
not limited to, usury and any and all other material requirements of any
federal, state or local law to the extent non-compliance would have a material
adverse effect on the Mortgage Loan.

            (16) To the Seller's knowledge and subject to clause (37) hereof, as
of the date of origination of the Mortgage Loan, based on inquiry customary in
the industry, the related Mortgaged Property was, and to the Seller's actual
knowledge and subject to clause (37) hereof, as of the Closing Date, the related
Mortgaged Property is, in all material respects, in compliance with, and is used
and occupied in accordance with, all restrictive covenants of record applicable
to such Mortgaged Property and applicable zoning laws and all inspections,
licenses, permits and certificates of occupancy required by law, ordinance or
regulation to be made or issued with regard to the Mortgaged Property have been
obtained and are in full force and effect, except to the extent (a) any material
non-compliance with applicable zoning laws is insured by an ALTA lender's title
insurance policy (or binding commitment therefor), or the equivalent as adopted
in the applicable jurisdiction, or a law and ordinance insurance policy, or (b)
the failure to obtain or maintain such inspections, licenses, permits or
certificates of occupancy does not materially impair or materially and adversely
affect the use and/or operation of the Mortgaged Property as it was used and
operated as of the date of origination of the Mortgage Loan or the rights of a
holder of the related Mortgage Loan.

            (17) All (a) taxes, water charges, sewer rents, assessments or other
similar outstanding governmental charges and governmental assessments which
became due and owing prior to the Closing Date in respect of the related
Mortgaged Property (excluding any related personal property), and if left
unpaid, would be, or might become, a lien on such Mortgaged Property having
priority over the related Mortgage and (b) insurance premiums or ground rents
which became due and owing prior to the Closing Date in respect of the related
Mortgaged Property (excluding any related personal property), have been paid, or
if disputed, or if such amounts are not delinquent prior to the Closing Date, an
escrow of funds in an amount sufficient (together with escrow payments required
to be made prior to delinquency) to cover such taxes and assessments and any
late charges due in connection therewith has been established. As of the date of
origination, the related Mortgaged Property was one or more separate and
complete tax parcels. For purposes of this representation and warranty, the
items identified herein shall not be considered due and owing until the date on
which interest or penalties would be first payable thereon.

            (18) To the Seller's knowledge based on surveys or the Title
Insurance Policy, (i) none of the material improvements that were included for
the purpose of determining the appraised value of the related Mortgaged Property
at the time of the origination of such Mortgage Loan lies outside the boundaries
and building restriction lines of such Mortgaged Property, except to the extent
they are legally nonconforming as contemplated by representation (37) below, and
(ii) no improvements on adjoining properties encroach upon such Mortgaged
Property, except in the case of either (i) or (ii) for (a) immaterial
encroachments which do not materially adversely affect the security intended to
be provided by the related Mortgage or the use, enjoyment, value or
marketability of such Mortgaged Property or (b) encroachments affirmatively
covered by the related Title Insurance Policy. With respect to each Mortgage
Loan, the property legally described in the survey, if any, obtained for the
related Mortgaged Property for purposes of the origination thereof is the same
as the property legally described in the Mortgage.

            (19) (a) As of the date of the applicable engineering report (which
was performed within 12 months prior to the Cut-off Date) related to the
Mortgaged Property and, to Seller's knowledge as of the Closing Date, the
related Mortgaged Property is either (i) in good repair, free and clear of any
damage that would materially adversely affect the value of such Mortgaged
Property as security for such Mortgage Loan or the use and operation of the
Mortgaged Property as it was being used or operated as of the origination date
or (ii) escrows in an amount consistent with the standard utilized by the Seller
with respect to similar loans it holds for its own account have been
established, which escrows will in all events be not less than 100% of the
estimated cost of the required repairs. Since the origination date, to the
Seller's actual knowledge, such Mortgaged Property has not been damaged by fire,
wind or other casualty or physical condition that would materially and adversely
affect its value as security for the related Mortgage Loan (including, without
limitation, any soil erosion or subsidence or geological condition), which
damage has not been fully repaired or fully insured, or for which escrows in an
amount consistent with the standard utilized by the Seller with respect to loans
it holds for its own account have not been established.

            (b) As of the origination date of such Mortgage Loan and to the
      Seller's actual knowledge, as of the Closing Date, there are no
      proceedings pending or, to the Seller's actual knowledge, threatened, for
      the partial or total condemnation of the relevant Mortgaged Property.

            (20) The Mortgage Loans that are identified on Exhibit A as being
secured in whole or in part by a leasehold estate (a "Ground Lease") (except
with respect to any Mortgage Loan also secured by the related fee interest in
the Mortgaged Property) satisfy the following conditions:

            (a) such Ground Lease or a memorandum thereof has been or will be
      duly recorded; such Ground Lease or other agreement received by the
      originator of the Mortgage Loan from the ground lessor, provides that the
      interest of the lessee thereunder may be encumbered by the related
      Mortgage and does not restrict the use of the related Mortgaged Property
      by such lessee, its successors or assigns, in a manner that would
      materially and adversely affect the security provided by the Mortgage; as
      of the date of origination of the Mortgage Loan, there was no material
      change of record in the terms of such Ground Lease with the exception of
      written instruments which are part of the related Mortgage File and Seller
      has no knowledge of any material change in the terms of such Ground Lease
      since the recordation of the related Mortgage, with the exception of
      written instruments which are part of the related Mortgage File;

            (b) such Ground Lease or such other agreement received by the
      originator of the Mortgage Loan from the ground lessor is not subject to
      any liens or encumbrances superior to, or of equal priority with, the
      related Mortgage, other than the related fee interest and Permitted
      Encumbrances and such Ground Lease or such other agreement received by the
      originator of the Mortgage Loan from the ground lessor is, and shall
      remain, prior to any mortgage or other lien upon the related fee interest
      (other than the Permitted Encumbrances) unless a nondisturbance agreement
      is obtained from the holder of any mortgage on the fee interest which is
      assignable to or for the benefit of the related lessee and the related
      mortgagee;

            (c) such Ground Lease or other agreement provides that upon
      foreclosure of the related Mortgage or assignment of the Mortgagor's
      interest in such Ground Lease in lieu thereof, the mortgagee under such
      Mortgage is entitled to become the owner of such interest upon notice to,
      but without the consent of, the lessor thereunder and, in the event that
      such mortgagee (or any of its successors and assigns under the Mortgage)
      becomes the owner of such interest, such interest is further assignable by
      such mortgagee (or any of its successors and assigns under the Mortgage)
      upon notice to such lessor, but without a need to obtain the consent of
      such lessor;

            (d) such Ground Lease is in full force and effect and no default of
      tenant or ground lessor was in existence at origination, or to the
      Seller's knowledge, is in existence as of the Closing Date, under such
      Ground Lease, nor at origination was, or to the Seller's knowledge, is
      there any condition which, but for the passage of time or the giving of
      notice, would result in a default under the terms of such Ground Lease;
      either such Ground Lease or a separate agreement contains the ground
      lessor's covenant that it shall not amend, modify, cancel or terminate
      such Ground Lease without the prior written consent of the mortgagee under
      such Mortgage and any amendment, modification, cancellation or termination
      of the Ground Lease without the prior written consent of the related
      mortgagee, or its successors or assigns is not binding on such mortgagee,
      or its successor or assigns;

            (e) such Ground Lease or other agreement requires the lessor
      thereunder to give written notice of any material default by the lessee to
      the mortgagee under the related Mortgage, provided that such mortgagee has
      provided the lessor with notice of its lien in accordance with the
      provisions of such Ground Lease; and such Ground Lease or other agreement
      provides that no such notice of default and no termination of the Ground
      Lease in connection with such notice of default shall be effective against
      such mortgagee unless such notice of default has been given to such
      mortgagee and any related Ground Lease or other agreement contains the
      ground lessor's covenant that it will give to the related mortgagee, or
      its successors or assigns, any notices it sends to the Mortgagor;

            (f) either (i) the related ground lessor has subordinated its
      interest in the related Mortgaged Property to the interest of the holder
      of the Mortgage Loan or (ii) such Ground Lease or other agreement provides
      that (A) the mortgagee under the related Mortgage is permitted a
      reasonable opportunity to cure any default under such Ground Lease which
      is curable, including reasonable time to gain possession of the interest
      of the lessee under the Ground Lease, after the receipt of notice of any
      such default before the lessor thereunder may terminate such Ground Lease;
      (B) in the case of any such default which is not curable by such
      mortgagee, or in the event of the bankruptcy or insolvency of the lessee
      under such Ground Lease, such mortgagee has the right, following
      termination of the existing Ground Lease or rejection thereof by a
      bankruptcy trustee or similar party, to enter into a new ground lease with
      the lessor on substantially the same terms as the existing Ground Lease;
      and (C) all rights of the Mortgagor under such Ground Lease (insofar as it
      relates to the Ground Lease) may be exercised by or on behalf of such
      mortgagee under the related Mortgage upon foreclosure or assignment in
      lieu of foreclosure;

            (g) such Ground Lease has an original term (or an original term plus
      one or more optional renewal terms that under all circumstances may be
      exercised, and will be enforceable, by the mortgagee or its assignee)
      which extends not less than 20 years beyond the stated maturity date of
      the related Mortgage Loan;

            (h) under the terms of such Ground Lease and the related Mortgage,
      taken together, any related insurance proceeds will be applied either to
      the repair or restoration of all or part of the related Mortgaged
      Property, with the mortgagee under such Mortgage or a financially
      responsible institution acting as trustee appointed by it, or consented to
      by it, or by the lessor having the right to hold and disburse such
      proceeds as the repair or restoration progresses (except in such cases
      where a provision entitling another party to hold and disburse such
      proceeds would not be viewed as commercially unreasonable by a prudent
      commercial mortgage lender), or to the payment in whole or in part of the
      outstanding principal balance of such Mortgage Loan together with any
      accrued and unpaid interest thereon; and

            (i) such Ground Lease does not impose any restrictions on subletting
      which would be viewed as commercially unreasonable by the Seller; such
      Ground Lease contains a covenant (or applicable laws provide) that the
      lessor thereunder is not permitted, in the absence of an uncured default,
      to disturb the possession, interest or quiet enjoyment of any lessee in
      the relevant portion of such Mortgaged Property subject to such Ground
      Lease for any reason, or in any manner, which would materially adversely
      affect the security provided by the related Mortgage.

            (21) (a) Except for those Mortgage Loans set forth on Schedule I
hereto for which a lender's environmental insurance policy was obtained in lieu
of an Environmental Site Assessment, an Environmental Site Assessment relating
to each Mortgaged Property and prepared no earlier than 12 months prior to the
Closing Date was obtained and reviewed by the Seller in connection with the
origination of such Mortgage Loan and a copy is included in the Servicing File.

            (b) Such Environmental Site Assessment does not identify, and the
      Seller has no actual knowledge of, any adverse circumstances or conditions
      with respect to or affecting the Mortgaged Property that would constitute
      or result in a material violation of any Environmental Laws, other than
      with respect to a Mortgaged Property (i) for which environmental insurance
      (as set forth on Schedule II hereto) is maintained, or (ii) which would
      require any expenditure greater than 5% of the outstanding principal
      balance of such Mortgage Loan to achieve or maintain compliance in all
      material respects with any Environmental Laws for which adequate sums, but
      in no event less than 125% of the estimated cost as set forth in the
      Environmental Site Assessment, were reserved in connection with the
      origination of the Mortgage Loan and for which the related Mortgagor has
      covenanted to perform, or (iii) as to which the related Mortgagor or one
      of its affiliates is currently taking or required to take such actions
      (which may be the implementation of an operations and maintenance plan),
      if any, with respect to such conditions or circumstances as have been
      recommended by the Environmental Site Assessment or required by the
      applicable governmental authority, or (iv) as to which another responsible
      party not related to the Mortgagor with assets reasonably estimated by the
      Seller at the time of origination to be sufficient to effect all necessary
      or required remediation identified in a notice or other action from the
      applicable governmental authority is currently taking or required to take
      such actions, if any, with respect to such regulatory authority's order or
      directive, or (v) as to which such conditions or circumstances identified
      in the Environmental Site Assessment were investigated further and based
      upon such additional investigation, an environmental consultant
      recommended no further investigation or remediation, or (vi) as to which a
      party with financial resources reasonably estimated to be adequate to cure
      the condition or circumstance provided a guaranty or indemnity to the
      related Mortgagor or to the mortgagee to cover the costs of any required
      investigation, testing, monitoring or remediation, or (vii) as to which
      the related Mortgagor or other responsible party obtained a "No Further
      Action" letter or other evidence reasonably acceptable to a prudent
      commercial mortgage lender that applicable federal, state, or local
      governmental authorities had no current intention of taking any action,
      and are not requiring any action, in respect of such condition or
      circumstance, or (viii) which would not require substantial cleanup,
      remedial action or other extraordinary response under any Environmental
      Laws reasonably estimated to cost in excess of 5% of the outstanding
      principal balance of such Mortgage Loan.

            (c) To the Seller's actual knowledge and in reliance upon the
      Environmental Site Assessment, except for any Hazardous Materials being
      handled in accordance with applicable Environmental Laws and except for
      any Hazardous Materials present at such Mortgaged Property for which, to
      the extent that an Environmental Site Assessment recommends remediation or
      other action, (A) there exists either (i) environmental insurance with
      respect to such Mortgaged Property (as set forth on Schedule II hereto) or
      (ii) an amount in an escrow account pledged as security for such Mortgage
      Loan under the relevant Mortgage Loan documents equal to no less than 125%
      of the amount estimated in such Environmental Site Assessment as
      sufficient to pay the cost of such remediation or other action in
      accordance with such Environmental Site Assessment or (B) one of the
      statements set forth in clause (b) above is true, (1) such Mortgaged
      Property is not being used for the treatment or disposal of Hazardous
      Materials; (2) no Hazardous Materials are being used or stored or
      generated for off-site disposal or otherwise present at such Mortgaged
      Property other than Hazardous Materials of such types and in such
      quantities as are customarily used or stored or generated for off-site
      disposal or otherwise present in or at properties of the relevant property
      type; and (3) such Mortgaged Property is not subject to any environmental
      hazard (including, without limitation, any situation involving Hazardous
      Materials) which under the Environmental Laws would have to be eliminated
      before the sale of, or which could otherwise reasonably be expected to
      adversely affect in more than a de minimis manner the value or
      marketability of, such Mortgaged Property.

            (d) The related Mortgage or other Mortgage Loan documents contain
      covenants on the part of the related Mortgagor requiring its compliance
      with any present or future federal, state and local Environmental Laws and
      regulations in connection with the Mortgaged Property. The related
      Mortgagor (or an affiliate thereof) has agreed to indemnify, defend and
      hold the Seller, and its successors and assigns, harmless from and against
      any and all losses, liabilities, damages, penalties, fines, expenses and
      claims of whatever kind or nature (including attorneys' fees and costs)
      imposed upon or incurred by or asserted against any such party resulting
      from a breach of the environmental representations, warranties or
      covenants given by the related Mortgagor in connection with such Mortgage
      Loan.

            (e) Each of the Mortgage Loans which is covered by a lender's
      environmental insurance policy obtained in lieu of an Environmental Site
      Assessment ("In Lieu of Policy") is identified on Schedule I, and each In
      Lieu of Policy is in an amount equal to 125% of the outstanding principal
      balance of the related Mortgage Loan and has a term ending no sooner than
      the maturity date (or, in the case of an ARD Loan, the final maturity
      date) of the related Mortgage Loan. All environmental assessments or
      updates that were in the possession of the Seller and that relate to a
      Mortgaged Property identified on Schedule I as being insured by an In Lieu
      of Policy have been delivered to or disclosed to the In Lieu of Policy
      carrier issuing such policy prior to the issuance of such policy.

            (22) As of the date of origination of the related Mortgage Loan,
and, as of the Closing Date, the Mortgaged Property is covered by insurance
policies providing the coverage described below and the Mortgage Loan documents
permit the mortgagee to require the coverage described below. All premiums with
respect to the Insurance Policies insuring each Mortgaged Property have been
paid in a timely manner or escrowed to the extent required by the Mortgage Loan
documents, and the Seller has not received (1) any notice of non payment of
premiums that has not been cured in a timely manner by the related Mortgagor or
(2) any notice of cancellation or termination of such Insurance Policies. The
relevant Servicing File contains the Insurance Policy required for such Mortgage
Loan or a certificate of insurance for such Insurance Policy. Each Mortgage
requires that the related Mortgaged Property and all improvements thereon are
covered by Insurance Policies providing (a) coverage in the amount of the lesser
of full replacement cost of such Mortgaged Property and the outstanding
principal balance of the related Mortgage Loan (subject to customary
deductibles) for losses sustained by fire and against loss or damage by other
risks and hazards covered by a standard extended coverage insurance policy
providing "special" form coverage in an amount sufficient to prevent the
Mortgagor from being deemed a co-insurer and to provide coverage on a full
replacement cost basis of such Mortgaged Property (in some cases exclusive of
excavations, underground utilities, foundations and footings) with an agreed
amount endorsement to avoid application of any coinsurance provision; such
policies contain a standard mortgage clause naming mortgagee and its successor
in interest as additional insureds or loss payee, as applicable; (b) business
interruption or rental loss insurance in an amount at least equal to (i) 12
months of operations or (ii) in some cases all rents and other amounts
customarily insured under this type of insurance of the Mortgaged Property; (c)
flood insurance (if any portion of the improvements on the Mortgaged Property is
located in an area identified by the Federal Emergency Management Agency
("FEMA"), with respect to certain Mortgage Loans and the Secretary of Housing
and Urban Development with respect to other Mortgage Loans, as having special
flood hazards) in an amount not less than amounts prescribed by FEMA; (d)
workers' compensation, if required by law; (e) comprehensive general liability
insurance in an amount consistent with the standard utilized by the Seller with
respect to loans it holds for its own account, but not less than $1 million; all
such Insurance Policies contain clauses providing they are not terminable and
may not be terminated without thirty (30) days prior written notice to the
mortgagee (except where applicable law requires a shorter period or except for
nonpayment of premiums, in which case not less than ten (10) days prior written
notice to the mortgagee is required). In addition, each Mortgage permits the
related mortgagee to make premium payments to prevent the cancellation thereof
and shall entitle such mortgagee to reimbursement therefor. Any insurance
proceeds in respect of a casualty loss or taking will be applied either to the
repair or restoration of all or part of the related Mortgaged Property or the
payment of the outstanding principal balance of the related Mortgage Loan
together with any accrued interest thereon. The related Mortgaged Property is
insured by an Insurance Policy, issued by an insurer meeting the requirements of
such Mortgage Loan and having a claims-paying or financial strength rating of at
least "A-:V" from A.M. Best Company or "A" (or the equivalent) from Standard &
Poor's Ratings Services, Fitch, Inc. or Moody's Investors Service, Inc. An
architectural or engineering consultant has performed an analysis of each of the
Mortgaged Properties located in seismic zones 3 or 4 in order to evaluate the
structural and seismic condition of such property, for the sole purpose of
assessing the probable maximum loss ("PML") for the Mortgaged Property in the
event of an earthquake. In such instance, the PML was based on a return period
of not less than 100 years, an exposure period of 50 years and a 10% probability
of exceedence. If the resulting report concluded that the PML would exceed 20%
of the amount of the replacement costs of the improvements, earthquake insurance
on such Mortgaged Property was obtained by an insurer rated at least "A-:V" by
A.M. Best Company or "A" (or the equivalent) from Standard & Poor's Ratings
Services, Fitch, Inc. or Moody's Investors Service, Inc. To the Seller's actual
knowledge, the insurer issuing each of the foregoing insurance policies is
qualified to write insurance in the jurisdiction where the related Mortgaged
Property is located.

            (23) All amounts required to be deposited by each Mortgagor at
origination under the related Mortgage Loan documents have been deposited or
have been withheld from the related Mortgage Loan proceeds at origination and
there are no deficiencies with regard thereto.

            (24) Whether or not a Mortgage Loan was originated by the Seller, to
the Seller's knowledge, with respect to each Mortgage Loan originated by the
Seller and each Mortgage Loan originated by any Person other than the Seller, as
of the date of origination of the related Mortgage Loan, and, to the Seller's
actual knowledge, with respect to each Mortgage Loan originated by the Seller
and any prior holder of the Mortgage Loan, as of the Closing Date, there are no
actions, suits, arbitrations or governmental investigations or proceedings by or
before any court or other governmental authority or agency now pending against
or affecting the Mortgagor under any Mortgage Loan or any of the Mortgaged
Properties which, if determined against such Mortgagor or such Mortgaged
Property, would materially and adversely affect the value of such Mortgaged
Property, the security intended to be provided with respect to the related
Mortgage Loan, or the ability of such Mortgagor and/or the current use of such
Mortgaged Property to generate net cash flow to pay principal, interest and
other amounts due under the related Mortgage Loan; and to the Seller's actual
knowledge there are no such actions, suits or proceedings threatened against
such Mortgagor.

            (25) The origination practices used by the Seller or, to its
knowledge, any prior holder of the related Mortgage Note with respect to such
Mortgage Loan have been in all material respects legal and have met customary
industry standards and since origination, the Mortgage Loan has been serviced in
all material respects in a legal manner in conformance with customary industry
standards.

            (26) The originator of the Mortgage Loan or the Seller has inspected
or caused to be inspected each related Mortgaged Property within the 12 months
prior to the Closing Date.

            (27) The Mortgage Loan documents require the Mortgagor to provide
the holder of the Mortgage Loan with at least annual operating statements,
financial statements and except for Mortgage Loans for which the related
Mortgaged Property is leased to a single tenant, rent rolls.

            (28) All escrow deposits and payments required by the terms of each
Mortgage Loan are in the possession, or under the control of the Seller (except
to the extent they have been disbursed for their intended purposes), and all
amounts required to be deposited by the applicable Mortgagor under the related
Mortgage Loan documents have been deposited, and there are no deficiencies with
regard thereto (subject to any applicable notice and cure period). All of the
Seller's interest in such escrows and deposits will be conveyed by the Seller to
the Purchaser hereunder.

            (29) No two or more Mortgage Loans representing, in the aggregate,
more than 5% of the aggregate outstanding principal amount of all the mortgage
loans included in the Trust Fund have the same Mortgagor or, to the Seller's
knowledge, are to Mortgagors which are entities controlled by one another or
under common control.

            (30) Each Mortgagor with respect to a Mortgage Loan with a principal
balance as of the Cut-off Date in excess of $15,000,000 included in the Trust
Fund is an entity whose organizational documents or related Mortgage Loan
documents provide that it is, and at least so long as the Mortgage Loan is
outstanding will continue to be, a Single Purpose Entity. For this purpose,
"Single Purpose Entity" shall mean a Person, other than an individual, whose
organizational documents or related Mortgage Loan documents provide that it
shall engage solely in the business of owning and operating the Mortgaged
Property and which does not engage in any business unrelated to such property
and the financing thereof, does not have any assets other than those related to
its interest in the Mortgaged Property or the financing thereof or any
indebtedness other than as permitted by the related Mortgage or the other
Mortgage Loan documents, and the organizational documents of which require that
it have its own separate books and records and its own accounts, in each case
which are separate and apart from the books and records and accounts of any
other Person.

            (31) The gross proceeds of each Mortgage Loan to the related
Mortgagor at origination did not exceed the non-contingent principal amount of
the Mortgage Loan and either: (a) such Mortgage Loan is secured by an interest
in real property having a fair market value (i) at the date the Mortgage Loan
was originated at least equal to 80% of the original principal balance of the
Mortgage Loan or (ii) at the Closing Date at least equal to 80% of the original
principal balance of the Mortgage Loan on such date; provided that for purposes
hereof, the fair market value of the real property interest must first be
reduced by (A) the amount of any lien on the real property interest that is
senior to the Mortgage Loan and (B) a proportionate amount of any lien that is
in parity with the Mortgage Loan (unless such other lien secures a Mortgage Loan
that is cross-collateralized with such Mortgage Loan, in which event the
computation described in sub-clauses (a)(i) and (a)(ii) of this clause (31)
shall be made on a pro rata basis in accordance with the fair market values of
the Mortgaged Properties securing such cross-collateralized Mortgage Loan); or
(b) substantially all the proceeds of such Mortgage Loan were used to acquire,
improve or protect the real property which served as the only security for such
Mortgage Loan (other than a recourse feature or other third party credit
enhancement within the meaning of Treasury Regulations Section
1.860G-2(a)(1)(ii)). If the Mortgage Loan was "significantly modified" prior to
the Closing Date so as to result in a taxable exchange under Section 1001 of the
Code, it either (x) was modified as a result of the default or reasonably
foreseeable default of such Mortgage Loan or (y) satisfies the provisions of
either sub-clause (a)(i) above (substituting the date of the last such
modification for the date the Mortgage Loan was originated) or sub-clause
(a)(ii), including the proviso thereto. The Mortgage Loan is a "qualified
mortgage" within the meaning of Section 860G(a)(3) of the Code (but without
regard to the rule in Treasury Regulations Section 1.860G-2(f)(2) that treats
certain defective mortgage loans as qualified mortgages). Any prepayment premium
and yield maintenance charges applicable to the Mortgage Loan constitute
"customary prepayment penalties" within the meaning of Treasury Regulations
Section 1.860G-1(b)(2).

            (32) Each of the Mortgage Loans contains a "due on sale" clause,
which provides for the acceleration of the payment of the unpaid principal
balance of the Mortgage Loan if, without the prior written consent of the holder
of the Mortgage Loan, the property subject to the Mortgage, or any controlling
interest therein, is directly or indirectly transferred or sold (except that it
may provide for transfers by devise, descent or operation of law upon the death
of a member, manager, general partner or shareholder of a Mortgagor and that it
may provide for transfers subject to the Mortgage Loan holder's approval of
transferee, transfers of worn out or obsolete furnishings, fixtures, or
equipment promptly replaced with property of equivalent value and functionality,
transfers of leases entered into in accordance with the Mortgage Loan documents,
transfers to affiliates, transfers to family members for estate planning
purposes, transfers among existing members, partners or shareholders in
Mortgagors or transfers of passive interests so long as the key principals or
general partner retains control). The Mortgage Loan documents contain a "due on
encumbrance" clause, which provides for the acceleration of the payment of the
unpaid principal balance of the Mortgage Loan if the property subject to the
Mortgage or any controlling interest in the Mortgagor is further pledged or
encumbered, unless the prior written consent of the holder of the Mortgage Loan
is obtained (except that it may provide for assignments subject to the Mortgage
Loan holder's approval of transferee, transfers to affiliates or transfers of
passive interests so long as the key principals or general partner retains
control). The Mortgage or Mortgage Note requires the Mortgagor to pay all
reasonable out-of-pocket fees and expenses associated with securing the consent
or approval of the holder of the Mortgage for a waiver of a "due on sale" or
"due on encumbrance" clause or a defeasance provision. As of the Closing Date,
the Seller holds no preferred equity interest in any Mortgagor and the Seller
holds no mezzanine debt related to such Mortgaged Property.

            (33) Except with respect to the AB Mortgage Loans, each Mortgage
Loan is a whole loan and not a participation interest in a mortgage loan.

            (34) Each Mortgage Loan containing provisions for defeasance of
mortgage collateral provides that: defeasance may not occur any earlier than two
years after the Closing Date; and requires or provides (i) the replacement
collateral consist of U.S. "government securities," within the meaning of
Treasury Regulations Section 1.860 G-2(a)(8)(i), in an amount sufficient to make
all scheduled payments under the Mortgage Note when due (up to the maturity date
for the related Mortgage Loan, the Anticipated Repayment Date for ARD Loans or
the date on which the Mortgagor may prepay the related Mortgage Loan without
payment of any prepayment penalty); (ii) the loan may be assumed by a Single
Purpose Entity approved by the holder of the Mortgage Loan; (iii) counsel
provide an opinion that the trustee has a perfected security interest in such
collateral prior to any other claim or interest; and (iv) such other documents
and certifications as the mortgagee may reasonably require which may include,
without limitation, (A) a certification that the purpose of the defeasance is to
facilitate the disposition of the mortgaged real property or any other customary
commercial transaction and not to be part of an arrangement to collateralize a
REMIC offering with obligations that are not real estate mortgages and (B) a
certification from an independent certified public accountant that the
collateral is sufficient to make all scheduled payments under the Mortgage Note
when due. Each Mortgage Loan containing provisions for defeasance provides that,
in addition to any cost associated with defeasance, the related Mortgagor shall
pay, as of the date the mortgage collateral is defeased, all scheduled and
accrued interest and principal due as well as an amount sufficient to defease in
full the Mortgage Loan (except as contemplated in clause (35) hereof). In
addition, if the related Mortgage Loan permits defeasance, then the Mortgage
Loan documents provide that the related Mortgagor shall (x) pay all reasonable
fees associated with the defeasance of the Mortgage Loan and all other
reasonable expenses associated with the defeasance, or (y) provide all opinions
required under the related Mortgage Loan documents, and in the case of any
Mortgage Loan with an outstanding principal balance as of the Cut-off Date of
$40,000,000 or greater, (a) a REMIC opinion and (b) rating agency letters
confirming that no downgrade or qualification shall occur as a result of the
defeasance.

            (35) In the event that a Mortgage Loan is secured by more than one
Mortgaged Property, then, in connection with a release of less than all of such
Mortgaged Properties, a Mortgaged Property may not be released as collateral for
the related Mortgage Loan unless, in connection with such release, an amount
equal to not less than 125% of the Allocated Loan Amount for such Mortgaged
Property is prepaid or, in the case of a defeasance, an amount equal to 125% of
the Allocated Loan Amount is defeased through the deposit of replacement
collateral (as contemplated in clause (34) hereof) sufficient to make all
scheduled payments with respect to such defeased amount, or such release is
otherwise in accordance with the terms of the Mortgage Loan documents.

            (36) Each Mortgaged Property is owned by the related Mortgagor,
except for Mortgaged Properties which are secured in whole or in a part by a
Ground Lease and for out-parcels, and is used and occupied for commercial or
multifamily residential purposes in accordance with applicable law.

            (37) Any material non-conformity with applicable zoning laws
constitutes a legal non-conforming use or structure which, in the event of
casualty or destruction, may be restored or repaired to the full extent of the
use or structure at the time of such casualty, or for which law and ordinance
insurance coverage has been obtained in amounts consistent with the standards
utilized by the Seller.

            (38) Neither the Seller nor any affiliate thereof has any obligation
to make any capital contributions to the related Mortgagor under the Mortgage
Loan. The Mortgage Loan was not originated for the sole purpose of financing the
construction of incomplete improvements on the related Mortgaged Property.

            (39) No court of competent jurisdiction will determine in a final
decree that fraud with respect to the Mortgage Loans has taken place on the part
of the Seller or, to the Seller's actual knowledge, on the part of any
originator, in connection with the origination of such Mortgage Loan.

            (40) If the related Mortgage or other Mortgage Loan documents
provide for a grace period for delinquent Monthly Payments, such grace period is
no longer than ten (10) days from the applicable payment date or, with respect
to acceleration or the commencement of the accrual of default interest under any
Mortgage Loan, five (5) days after notice to the Mortgagor of default.

            (41) The following statements are true with respect to the related
Mortgaged Property: (a) the Mortgaged Property is located on or adjacent to a
dedicated road or has access to an irrevocable easement permitting ingress and
egress and (b) the Mortgaged Property is served by public or private utilities,
water and sewer (or septic facilities) appropriate for the use in which the
Mortgaged Property is currently being utilized.

            (42) None of the Mortgage Loan documents contain any provision that
expressly excuses the related borrower from obtaining and maintaining insurance
coverage for acts of terrorism or, in circumstances where terrorism insurance is
not expressly required, the mortgagee is not prohibited from requesting that the
related borrower maintain such insurance, in each case, to the extent such
insurance coverage is generally available for like properties in such
jurisdictions at commercially reasonable rates. Each Mortgaged Property is
insured by a "standard extended coverage" casualty insurance policy that does
not contain an express exclusion for (or, alternatively, is covered by a
separate policy that insures against property damage resulting from) acts of
terrorism.

            (43) An appraisal of the related Mortgaged Property was conducted in
connection with the origination of such Mortgage Loan, and such appraisal
satisfied the guidelines in Title XI of the Financial Institutions Reform,
Recovery and Enforcement Act of 1989, as in effect on the date such Mortgage
Loan was originated.

            Defined Terms:

            The term "Allocated Loan Amount" shall mean, for each Mortgaged
Property, the portion of principal of the related Mortgage Loan allocated to
such Mortgaged Property for certain purposes (including determining the release
prices of properties, if permitted) under such Mortgage Loan as set forth in the
related loan documents. There can be no assurance, and it is unlikely, that the
Allocated Loan Amounts represent the current values of individual Mortgaged
Properties, the price at which an individual Mortgaged Property could be sold in
the future to a willing buyer or the replacement cost of the Mortgaged
Properties.

            The term "Anticipated Repayment Date" shall mean the date on which
all or substantially all of any Excess Cash Flow is required to be applied
toward prepayment of the related Mortgage Loan and on which any such Mortgage
Loan begins accruing Excess Interest.

            The term "ARD Loan" shall have the meaning assigned thereto in the
Pooling and Servicing Agreement.

            The term "Environmental Site Assessment" shall mean a Phase I
environmental report meeting the requirements of the American Society for
Testing and Materials, and, if in accordance with customary industry standards a
reasonable lender would require it, a Phase II environmental report, each
prepared by a licensed third party professional experienced in environmental
matters.

            The term "Excess Cash Flow" shall mean the cash flow from the
Mortgaged Property securing an ARD Loan after payments of interest (at the
Mortgage Interest Rate) and principal (based on the amortization schedule), and
(a) required payments for the tax and insurance fund and ground lease escrows
fund, (b) required payments for the monthly debt service escrows, if any, (c)
payments to any other required escrow funds and (d) payment of operating
expenses pursuant to the terms of an annual budget approved by the applicable
Master Servicer and discretionary (lender approved) capital expenditures.

            The term "Excess Interest" shall mean any accrued and deferred
interest on an ARD Loan in accordance with the following terms. Commencing on
the respective Anticipated Repayment Date each ARD Loan (pursuant to its
existing terms or a unilateral option, as defined in Treasury Regulations under
Section 1001 of the Code, in the Mortgage Loans exercisable during the term of
the Mortgage Loan) generally will bear interest at a fixed rate (the "Revised
Rate") per annum equal to the Mortgage Interest Rate plus a percentage specified
in the related Mortgage Loan documents. Until the principal balance of each such
Mortgage Loan has been reduced to zero (pursuant to its existing terms or a
unilateral option, as defined in Treasury Regulations under Section 1001 of the
Code, in the Mortgage Loans exercisable during the term of the Mortgage Loan),
such Mortgage Loan will only be required to pay interest at the Mortgage
Interest Rate and the interest accrued at the excess of the related Revised Rate
over the related Mortgage Interest Rate will be deferred (such accrued and
deferred interest and interest thereon, if any, is "Excess Interest").

            The term "in reliance on" shall mean that:

                  (a) the Seller has examined and relied in whole or in part
      upon one or more of the specified documents or other information in
      connection with a given representation or warranty;

                  (b) that the information contained in such document or
      otherwise obtained by the Seller appears on its face to be consistent in
      all material respects with the substance of such representation or
      warranty;

                  (c) the Seller's reliance on such document or other
      information is consistent with the standard of care exercised by prudent
      lending institutions originating commercial mortgage loans; and

                  (d) although the Seller is under no obligation to verify
      independently the information contained in any document specified as being
      relied upon by it, the Seller believes the information contained therein
      to be true, accurate and complete in all material respects and has no
      actual knowledge of any facts or circumstances which would render reliance
      thereon unjustified without further inquiry.

            The term "Mortgage Interest Rate" shall mean the fixed rate of
interest per annum that each Mortgage Loan bears as of the Cut-off Date.

            The term "Permitted Encumbrances" shall mean:

                  (a) the lien of current real property taxes, water charges,
      sewer rents and assessments not yet delinquent or accruing interest or
      penalties;

                  (b) covenants, conditions and restrictions, rights of way,
      easements and other matters of public record acceptable to mortgage
      lending institutions generally and referred to in the related mortgagee's
      title insurance policy;

                  (c) other matters to which like properties are commonly
      subject, and

                  (d) the rights of tenants, as tenants only, whether under
      ground leases or space leases at the Mortgaged Property.

            which together do not materially and adversely affect the related
      Mortgagor's ability to timely make payments on the related Mortgage Loan,
      which do not materially interfere with the benefits of the security
      intended to be provided by the related Mortgage or the use, for the use
      currently being made, the operation as currently being operated,
      enjoyment, value or marketability of such Mortgaged Property, provided,
      however, that, for the avoidance of doubt, Permitted Encumbrances shall
      exclude all pari passu, second, junior and subordinated mortgages but
      shall not exclude mortgages that secure other Mortgage Loans or Companion
      Loans that are cross-collateralized with the related Mortgage Loan.

            Other. For purposes of these representations and warranties, the
term "to the Seller's knowledge" shall mean that no officer, employee or agent
of the Seller responsible for the underwriting, origination or sale of the
Mortgage Loans or of any servicer responsible for servicing the Mortgage Loan on
behalf of the Seller, believes that a given representation or warranty is not
true or is inaccurate based upon the Seller's reasonable inquiry and during the
course of such inquiry, no such officer, employee or agent of the Seller has
obtained any actual knowledge of any facts or circumstances that would cause
such person to believe that such representation or warranty was inaccurate.
Furthermore, all information contained in documents which are part of or
required to be part of a Mortgage File shall be deemed to be within the Seller's
knowledge. For purposes of these representations and warranties, the term "to
the Seller's actual knowledge" shall mean that an officer, employee or agent of
the Seller responsible for the underwriting, origination and sale of the
Mortgage Loans does not actually know of any facts or circumstances that would
cause such person to believe that such representation or warranty was
inaccurate.

<PAGE>

                                    EXHIBIT C

                                JPMCC 2006 - LDP8
                          Exceptions to Representations

Representation #(4)
-------------------
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------
 Loan Number          Loan Name                  Description of Exception
-----------------------------------------------------------------------------------
<S>           <C>                        <C>
     100      United Plaza               The Mortgaged Property secures the
                                         Mortgage Loan and a B-Note held by CBA
                                         Mezzanine Capital Finance, LLC.
-----------------------------------------------------------------------------------

     103      Donato Corporate Park      The Mortgaged Property  secures  the
                                         Mortgage Loan and a B-Note held by CBA
                                         Mezzanine Capital Finance, LLC.
-----------------------------------------------------------------------------------

     25       Stevens Center Business    The Mortgaged Property  secures the
              Park                       Mortgage Loan and a B-Note  held by CBA
                                         Mezzanine Capital Finance, LLC.
-----------------------------------------------------------------------------------

      3       RREEF Silicon Valley       The  Mortgaged Property secures the
              Office Portfolio           Mortgage Loan (consisting  of a Fixed
                                         Rate A-2 Note), a Fixed Rate A-1 Note
                                         (which is pari passu with the Mortgage
                                         Loan and is not included in the trust
                                         fund) and a Floating Rate A Note and
                                         Floating Rate B Note (which are pari
                                         passu with the Mortgage Loan and Fixed
                                         Rate A-1 Note and are not included in
                                         the trust fund).
-----------------------------------------------------------------------------------
</TABLE>

Representation #(6)
-------------------
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------
 Loan Number          Loan Name                  Description of Exception
-----------------------------------------------------------------------------------
<S>           <C>                        <C>
     22       CNL/Welsh Portfolio        Five of the Mortgaged Properties have
                                         tenants with a right to purchase such
                                         respective properties during the term
                                         of the Mortgage Loan.
-----------------------------------------------------------------------------------

     140      Emmorton Professional      The Mortgaged Loan is structured as an
              Building                   indemnity deed of trust ("IDOT"), under
                                         which the Mortgage Note is secured by
                                         an indemnity guaranty, which indemnity
                                         guaranty is secured by the fee interest
                                         in the Mortgaged Property. The
                                         guarantor of the Mortgage Note owns the
                                         Mortgaged Property and thus has an
                                         interest in the lease payments.
-----------------------------------------------------------------------------------

      3       RREEF Silicon Valley       The Mortgaged Property secures the
              Office Portfolio           Mortgage Loan (consisting of a Fixed
                                         Rate A-2 Note), a Fixed Rate A-1 Note
                                         (which is pari passu with the Mortgage
                                         Loan and is not included in the trust
                                         fund) and a Floating Rate A Note and
                                         Floating Rate B Note (which are pari
                                         passu with the Mortgage Loan and Fixed
                                         Rate A-1 Note and are not included in
                                         the trust fund).
-----------------------------------------------------------------------------------

     41       Commerce Center I          The Mortgaged Loan is structured as an
                                         indemnity deed of trust ("IDOT"), under
                                         which the Mortgage Note is secured by
                                         an indemnity guaranty, which indemnity
                                         guaranty is secured by the fee interest
                                         in the Mortgaged Property. The
                                         guarantor of the Mortgage Note owns the
                                         Mortgaged Property and thus has an
                                         interest in the lease payments.
-----------------------------------------------------------------------------------

     137      Century Boulevard          The Mortgaged Loan is structured as an
                                         indemnity deed of trust ("IDOT"), under
                                         which the Mortgage Note is secured by
                                         an indemnity guaranty, which indemnity
                                         guaranty is secured by the fee interest
                                         in the Mortgaged Property. The
                                         guarantor of the Mortgage Note owns the
                                         Mortgaged Property and thus has an
                                         interest in the lease payments.
-----------------------------------------------------------------------------------
</TABLE>

Representation #(7)
-------------------
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------
 Loan Number          Loan Name                  Description of Exception
-----------------------------------------------------------------------------------
<S>           <C>                        <C>
     22       CNL/Welsh Portfolio        Five of the Mortgaged Properties have
                                         tenants with a right to purchase such
                                         respective properties during the term
                                         of the Mortgage Loan.
-----------------------------------------------------------------------------------

     140      Emmorton Professional      Because the Mortgage Loan is structured
              Building                   for  tax  purposes as an IDOT, the
                                         guarantor of the Mortgage Note is the
                                         owner of the related Mortgaged Property
                                         instead of the related Mortgagor.
-----------------------------------------------------------------------------------

     41       Commerce Center I          Because the Mortgage Loan is structured
                                         for tax purposes as an IDOT, the
                                         guarantor of the Mortgage Note is the
                                         owner of the related Mortgaged Property
                                         instead of the related Mortgagor.
-----------------------------------------------------------------------------------

     137      Century Boulevard          Because the Mortgage Loan is structured
                                         for tax purposes as an IDOT, the
                                         guarantor of the Mortgage Note is the
                                         owner of the related Mortgaged Property
                                         instead of the related Mortgagor.
-----------------------------------------------------------------------------------
</TABLE>

Representation #(10a)
---------------------
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------
 Loan Number          Loan Name                  Description of Exception
-----------------------------------------------------------------------------------
<S>           <C>                        <C>
     101      Orleans Business Park      There is no individual or entity other
                                         than the Mortgagor who is liable for
                                         the non-recourse carveouts.

                                         The environmental non-recourse carveout
                                         is qualified by certain provisions in
                                         the Mortgage Loan documents and
                                         includes a 6 month sunset provision.
-----------------------------------------------------------------------------------
     127      Orleans Business Park II   There is no individual or entity other
                                         than the Mortgagor who is liable for
                                         the non-recourse carveouts.

                                         The environmental non-recourse carveout
                                         is qualified by certain provisions in
                                         the Mortgage Loan documents and
                                         includes a 6 month sunset provision.
-----------------------------------------------------------------------------------

     155      Tucker Street Apartments   In addition to the  standard carveouts,
                                         the Mortgage Loan is recourse (i) until
                                         the completion of the transfer to the
                                         single purpose entity, or (ii) if the
                                         HAP Contract, as defined in the
                                         Mortgage Loan documents, is terminated
                                         by the Housing and Urban Development
                                         administration as an exercise of its
                                         rights thereunder as a result of any
                                         breach by, default under or claims
                                         against the Mortgagor.
-----------------------------------------------------------------------------------

      2       53 State Street            There is no individual or entity other
                                         than the Mortgagor who is liable for the
                                         non-recourse carveouts.
-----------------------------------------------------------------------------------

      3       RREEF Silicon Valley       There is no individual or entity other
              Office Portfolio           than the Mortgagor who is liable for the
                                         non-recourse carveouts.
-----------------------------------------------------------------------------------

     57       The Plaza at Point Happy   The environmental indemnity contains a 3
                                         year sunset provision.
-----------------------------------------------------------------------------------

     23       Foothills Mall             The environmental indemnity contains a 5
                                         year sunset provision.
-----------------------------------------------------------------------------------

    7-21      Colony III Portfolio       No individual or entity (other than the
                                         Mortgagor) is liable for breach of the
                                         fraud and environmental non-recourse
                                         carveouts.
-----------------------------------------------------------------------------------
</TABLE>

Representation #(10c)
---------------------
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------
 Loan Number          Loan Name                  Description of Exception
-----------------------------------------------------------------------------------
<S>           <C>                        <C>
     140      Emmorton Professional      The Mortgage Loan is structured as an
              Building                   IDOT, and while the related Mortgagor
                                         was the maker of the Mortgage Note, the
                                         Mortgage was given by the indemnity
                                         guarantor.
-----------------------------------------------------------------------------------

     41       Commerce Center I          The Mortgage Loan is structured as an
                                         IDOT, and while the related Mortgagor
                                         was the maker of the Mortgage Note, the
                                         Mortgage was given by the indemnity
                                         guarantor.
-----------------------------------------------------------------------------------

     137      Century Boulevard          The Mortgage Loan is structured as an
                                         IDOT, and while the related Mortgagor
                                         was the maker of the Mortgage Note, the
                                         Mortgage was given by the indemnity
                                         guarantor.
-----------------------------------------------------------------------------------
</TABLE>

Representation #(10d)
---------------------
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------
 Loan Number          Loan Name                  Description of Exception
-----------------------------------------------------------------------------------
<S>           <C>                        <C>
     22       CNL/Welsh Portfolio        The terms of certain Mortgage Loan
                                         documents were modified after the
                                         Cut-off Date to incorporate conditions
                                         to the pre-approved expansion and
                                         construction of improvements on one of
                                         the Mortgaged Properties.

                                         Additionally, one of the environmental
                                         indemnity guarantors was released for
                                         so long as the environmental insurance
                                         policy is in full force and effect
                                         because environmental insurance was
                                         provided.
-----------------------------------------------------------------------------------

      3       RREEF Silicon Valley       The terms of certain Mortgage Loan
              Office Portfolio           documents were modified after August 1,
                                         2006 to make the Fixed Rate A-2 Note,
                                         Floating Rate A Note and Floating Rate
                                         B Note pari passu with the Mortgage
                                         Loan and to change the amounts required
                                         to be escrowed for repairs to the
                                         Mortgaged Properties and the procedures
                                         for releasing such funds.
-----------------------------------------------------------------------------------
</TABLE>

Representation #(12)
--------------------
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------
 Loan Number          Loan Name                  Description of Exception
-----------------------------------------------------------------------------------
<S>           <C>                        <C>
     30       Neiss Portfolio            Each Neiss Portfolio property may be
                                         released from the lien of the Mortgage
                                         upon defeasance of an amount equal to
                                         110% of the allocated loan amount.
-----------------------------------------------------------------------------------

    7-21      Colony III Portfolio       Each Colony property may be released
                                         from the lien of the Mortgage upon
                                         defeasance of an amount equal to between
                                         105% and 107.5% of the allocated loan
                                         amount.  Additionally, each Colony
                                         property may be released from the lien
                                         of the Mortgaged upon the Mortgagor
                                         providing a letter of credit in an
                                         amount equal to 105% of the allocated
                                         loan amount.

                                         The Mortgagor may obtain a release of
                                         an individual Mortgaged Property by
                                         substituting its interest in other
                                         Mortgaged Properties as collateral
                                         during the term of the Mortgage Loan,
                                         subject to certain conditions as set
                                         forth in the related Mortgage Loan
                                         documents.
-----------------------------------------------------------------------------------

      3       RREEF Silicon Valley       Each RREEF property may be released from
              Office Portfolio           the lien of the Mortgage upon defeasance
                                         of an amount equal to between 105% and
                                         115% of the allocated loan amount to
                                         such property.
-----------------------------------------------------------------------------------
</TABLE>

Representation #(14a)
---------------------
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------
 Loan Number          Loan Name                  Description of Exception
-----------------------------------------------------------------------------------
<S>           <C>                        <C>
     57       The Plaza at Point Happy   The value of the Mortgaged Property is
                                         based upon the appraiser's $15,500,000
                                         "as stabilized" value (as compared with
                                         a $15,350,000 "as-is" value) and assumes
                                         build-out and occupancy of space that
                                         has not yet occurred.  The mortgagee
                                         established escrows at origination in
                                         the amount of $1,500,000 relating to the
                                         lease-up of the Mortgaged Property.
-----------------------------------------------------------------------------------
</TABLE>

Representation #(16)
--------------------
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------
 Loan Number          Loan Name                  Description of Exception
-----------------------------------------------------------------------------------
<S>           <C>                        <C>

  147; 67;    Storage Solutions;
103; 23; 146; Country Corner Shopping
  7-21;22     Center; Donato Corporate
              Park; Foothills Mall;
              Ramada Inn-Tampa; Colony
              III Portfolio (13524
              Welch Road and 4550
              Spring Valley Road);       The respective  Mortgaged  Properties are
              CNL/Welsh Portfolio (ADS   legally nonconforming due to deficient
              Logistics-IN) parking.
-----------------------------------------------------------------------------------

     152      30 East Hoffman Avenue     The Mortgaged Property is nonconforming
                                         due to setback, density and parking
                                         violations.
-----------------------------------------------------------------------------------

      3       RREEF Silicon Valley       Five of the RREEF properties  (Peery Park
              Office Portfolio           Biotech,  Peery  Park I,  Peery  Park II,
                                         Macara A&B and Sunnyvale/Santa
                                         Clara/San Jose) are legally
                                         nonconforming due to excessive parking.
-----------------------------------------------------------------------------------
</TABLE>

Representation #(19a)
---------------------
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------
 Loan Number          Loan Name                  Description of Exception
-----------------------------------------------------------------------------------
<S>           <C>                        <C>
154; 115;137  Garfield Place; Liberty    The  mortgagee waived escrows for
              Plaza; Century Boulevard   immediate repairs in an amount of
                                         less  than $5,000 recommended by the
                                         property condition report.
-----------------------------------------------------------------------------------

     85       Highland Plaza             The mortgagee waived escrows for
                                         immediate repairs in the amount of
                                         $7,375 recommended by the property
                                         condition report.
-----------------------------------------------------------------------------------

      3       RREEF Silicon Valley       The  property condition  report
              Office Portfolio           recommended immediate  repairs in the
                                         amount of $6,214,459. The mortgagee
                                         waived escrows for immediate repairs in
                                         the amount of $5,000,000 and the
                                         Mortgagor escrowed the remaining
                                         $1,518,458.70.
-----------------------------------------------------------------------------------

    7-21      Colony III Portfolio       The  mortgagee waived escrows for
                                         immediate repairs in the amount of
                                         $523,070 recommended by the property
                                         condition report
-----------------------------------------------------------------------------------

     41       Commerce Center I          The Property Condition Assessment was
                                         completed more than twelve months prior
                                         to the cut-off date.
-----------------------------------------------------------------------------------

     52       Executive Tower            The mortgagee waived escrows for
                                         immediate repairs in the amount of
                                         $14,824 recommended by the property
                                         condition report.
                                         The Property Condition Assessment was
                                         completed more than twelve months prior
                                         to the cut-off date.
-----------------------------------------------------------------------------------
</TABLE>

Representation #(19b)
---------------------
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------
 Loan Number          Loan Name                  Description of Exception
-----------------------------------------------------------------------------------
<S>           <C>                        <C>
      2       53 State Street            There is an impending permanent easement
                                         in favor of the Massachusetts Bay
                                         Transportation Authority that will
                                         affect a portion of the Mortgaged
                                         Property. The sponsor will receive $1.9
                                         million as consideration for the
                                         permanent easement.
-----------------------------------------------------------------------------------
</TABLE>

Representation #(20a-i)
-----------------------
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------
 Loan Number          Loan Name                  Description of Exception
-----------------------------------------------------------------------------------
<S>           <C>                        <C>
      3       RREEF Silicon Valley       One of the RREEF Silicon Valley Office
              Office Portfolio           Portfolio properties (North Point
                                         Business Park) includes a parking area
                                         which the Mortgagor holds pursuant to a
                                         ground lease, expiring on September 30,
                                         2024. The parking area of the fee
                                         ownership portion of the Mortgaged
                                         Property is sufficient to satisfy
                                         current zoning requirements.
-----------------------------------------------------------------------------------
</TABLE>

Representation #(21a)
---------------------
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------
 Loan Number          Loan Name                  Description of Exception
-----------------------------------------------------------------------------------
<S>           <C>                        <C>
      3       RREEF Silicon Valley       Mortgagee obtained Environmental Desk
              Office Portfolio           Top reviews of existing Phase I reports
                                         that were prepared for the Mortgagor as
                                         part of the acquisition.
-----------------------------------------------------------------------------------

     41       Commerce Center I          The Phase I Environmental Assessment was
                                         completed more than twelve months prior
                                         to the origination date.
-----------------------------------------------------------------------------------

     52       Executive Tower            The Phase I Environmental Assessment was
                                         completed more than twelve months prior
                                         to the origination date.
-----------------------------------------------------------------------------------
</TABLE>

Representation #(21d)
---------------------
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------
 Loan Number          Loan Name                  Description of Exception
-----------------------------------------------------------------------------------
<S>           <C>                        <C>
     101      Orleans Business Park      The environmental non-recourse carveout
                                         is qualified by certain provisions in
                                         the Mortgage Loan documents and
                                         includes a 6 month sunset provision.

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

     127      Orleans Business Park II   The environmental non-recourse carveout is
                                         qualified by certain provisions in the
                                         Mortgage Loan documents and includes a
                                         6 month sunset provision.
-----------------------------------------------------------------------------------

     57       The Plaza at Point Happy   The environmental indemnity contains a 3
                                         year sunset provision.
-----------------------------------------------------------------------------------

     23       Foothills Mall             The environmental indemnity contains a 5
                                         year sunset provision.
-----------------------------------------------------------------------------------
</TABLE>

Representation #(22)
--------------------
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------
 Loan Number          Loan Name                  Description of Exception
-----------------------------------------------------------------------------------
<S>           <C>                        <C>
     22       CNL/Welsh Portfolio        Mortgagor may maintain  all-risk
                                         insurance with a deductible that does
                                         not exceed $50,000 for the Fingerhut
                                         and ADS properties.
-----------------------------------------------------------------------------------

     74       Knobb Hill Apartments      Mortgagor may maintain comprehensive
                                         commercial general liability insurance
                                         with a deductible that does not exceed
                                         $2,500.
-----------------------------------------------------------------------------------

     30       Neiss Portfolio            Mortgagor may maintain comprehensive
                                         commercial general liability insurance
                                         for each of the Neiss Portfolio
                                         properties with a deductible that does
                                         not exceed $1,000.
-----------------------------------------------------------------------------------

     155      Tucker Street Apartments   Mortgagor may maintain comprehensive
                                         commercial general liability insurance
                                         with a deductible that does not exceed
                                         $5,000.
-----------------------------------------------------------------------------------

      2       53 State Street            Mortgagor may maintain all-risk
                                         insurance with a deductible that does
                                         not exceed $250,000. If damage is due
                                         to acts of terrorism, the deductible
                                         may not exceed $1,000,000 or, subject
                                         to the satisfaction of certain
                                         criteria, including delivery of a
                                         guaranty by Brookfield Properties
                                         Corporation, $10,000,000.
-----------------------------------------------------------------------------------

    7-21     Colony III Portfolio        Mortgagor may maintain all-risk
                                         insurance with a deductible that does
                                         not exceed $250,000.
-----------------------------------------------------------------------------------

      3       RREEF Silicon Valley       Mortgagor may maintain  all-risk
              Office Portfolio           insurance with a deductible that does
                                         not exceed $100,000.

                                         The Mortgagor is required to carry
                                         Insurance Policies from carriers having
                                         a claims-paying ability rating of "A"
                                         or better (or the equivalent thereof)
                                         by at least two (2) of the rating
                                         agencies rating the Certificates, or,
                                         if only one rating agency is rating the
                                         Certificates, then only by such rating
                                         agency; provided, however, that if
                                         insurance is provided by a syndicate,
                                         the insurers will be acceptable if: (i)
                                         the first layer of coverage under such
                                         insurance will be provided by carriers
                                         with a minimum financial strength
                                         rating by S&P of "A" or better; (ii)
                                         60% (75% if there are four or fewer
                                         members in the syndicate) of the
                                         aggregate limits under such Insurance
                                         Policies must be provided by carriers
                                         with a minimum financial strength
                                         rating from S&P of "A" or better and
                                         (iii) the financial strength rating
                                         from S&P for each carrier in the
                                         syndicate should be at least "BBB". The
                                         Mortgagor has the right to accept
                                         carriers with respect to earthquake
                                         coverage, which do not satisfy the
                                         rating requirements if the mortgagee
                                         determines there is a limited market
                                         availability for such carriers.
-----------------------------------------------------------------------------------

     76       Hampden Villa Center       Mortgagor may  maintain comprehensive
                                         commercial general liability insurance
                                         with a deductible that does not exceed
                                         $2,500.
-----------------------------------------------------------------------------------

     146      Ramada Inn-Tampa           Mortgagor may maintain comprehensive
                                         commercial general liability insurance
                                         with a deductible that does not exceed
                                         $500.

                                         The Mortgagor is permitted to maintain
                                         its current Insurance Policy with
                                         Century Surety Company, with a current
                                         claims-paying rating of "BBB" by S&P,
                                         provided that (i) in the event Century
                                         Surety Company's claims-paying ratings
                                         are downgraded below "BBB" by S&P, or
                                         (ii) the expiration date of such
                                         Insurance Policy occurs, the Mortgagor
                                         is required to obtain a new Insurance
                                         Policy from a Qualified Insurer.

                                         The Mortgagor's current policy does
                                         have "A" coverage for Law and Ordinance
                                         and the Mortgagor is required to obtain
                                         it upon insurance renewal. In addition,
                                         the Mortgagor's current insurance
                                         policy does not contain sufficient
                                         windstorm coverage insurance but
                                         mortgagee escrowed an amount equal to
                                         the insurance shortfall and the
                                         Mortgagor is required to obtain
                                         sufficient insurance upon renewal. The
                                         loan is full recourse to the guarantor
                                         if any casualty occurs prior to
                                         insurance renewal.
-----------------------------------------------------------------------------------

     49       Briargrove Place           Mortgagor may maintain comprehensive
                                         commercial general liability insurance
                                         with a deductible that does not exceed
                                         $1,000.
-----------------------------------------------------------------------------------

     54       The Links at Citiside      Mortgagor may maintain comprehensive
              Apartments                 commercial general liability insurance
                                         with a  deductible  that does not  exceed
                                         $2,500.
-----------------------------------------------------------------------------------
</TABLE>

Representation #(24)
--------------------
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------
 Loan Number          Loan Name                  Description of Exception
-----------------------------------------------------------------------------------
<S>           <C>                        <C>
      2       53 State Street            There is an impending permanent easement
                                         in favor of the Massachusetts Bay
                                         Transportation Authority that will
                                         affect a portion of the Mortgaged
                                         Property, although such easement should
                                         not have an adverse economic effect on
                                         the Mortgaged Property. The sponsor
                                         will receive $1.9 million as
                                         consideration for the permanent
                                         easement.
-----------------------------------------------------------------------------------

     49       Briargrove Place           The Mortgagor is a defendant in a
                                         pending lawsuit by Dicker Corporation
                                         pursuant to which the plaintiff is
                                         seeking specific performance regarding
                                         parking spaces, curb cut access and
                                         signage.
-----------------------------------------------------------------------------------
</TABLE>

Representation #(27)
--------------------
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------
 Loan Number          Loan Name                  Description of Exception
-----------------------------------------------------------------------------------
<S>           <C>                        <C>
     140      Emmorton Professional      This loan is secured by an IDOT.  The
                                         Building indemnity grantor, and not the
                                         Mortgagor, is required to provide
                                         financial information to the mortgagee.
-----------------------------------------------------------------------------------

     41       Commerce Center I          This loan is secured by an  IDOT. The
                                         indemnity grantor, and not the
                                         Mortgagor, is required to provide
                                         financial information to the mortgagee.
-----------------------------------------------------------------------------------

     137      Century Boulevard          This loan is secured  by an  IDOT.  The
                                         indemnity grantor, and not the
                                         Mortgagor, is required to provide
                                         financial information to the mortgagee.
-----------------------------------------------------------------------------------
</TABLE>

Representation #(32)
--------------------
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------
 Loan Number          Loan Name                  Description of Exception
-----------------------------------------------------------------------------------
<S>           <C>                        <C>
     22       CNL/Welsh Portfolio        Subject to the satisfaction of certain
                                         conditions, transfers to affiliates and
                                         other entities or individuals are
                                         permitted pursuant to the Mortgage Loan
                                         documents.

                                         The direct owner of 100% of the
                                         Mortgagor has pledged its ownership
                                         interests in the Mortgagor to secure a
                                         mezzanine loan held by JPMorgan Chase
                                         Bank, N.A. If such entity defaults on
                                         the mezzanine loan, the interest in
                                         such direct owner can be transferred to
                                         the mezzanine lender pursuant to the
                                         mezzanine loan documents.
-----------------------------------------------------------------------------------

     99       Fiesta Crossings SC        Subject to the satisfaction of certain
                                         conditions, transfers to affiliates and
                                         other entities or individuals are
                                         permitted pursuant to the Mortgage Loan
                                         documents.
-----------------------------------------------------------------------------------

     87       Harvey Oaks                Subject  to the  satisfaction  of certain
                                         conditions, transfers to affiliates and
                                         other entities or individuals are
                                         permitted pursuant to the Mortgage Loan
                                         documents.
-----------------------------------------------------------------------------------

     54       The Links at Citiside      Subject to the satisfaction  of certain
              Apartments                 conditions, transfers to affiliates and
                                         other entities or individuals are
                                         permitted pursuant to the Mortgage Loan
                                         documents.
-----------------------------------------------------------------------------------

     101      Orleans Business Park      Subject to the satisfaction of certain
                                         conditions, transfers to affiliates and
                                         other entities or individuals are
                                         permitted pursuant to the Mortgage Loan
                                         documents.
-----------------------------------------------------------------------------------

     127      Orleans Business Park II   Subject to the satisfaction of certain
                                         conditions, transfers to affiliates and
                                         other entities or individuals are
                                         permitted pursuant to the Mortgage Loan
                                         documents.
-----------------------------------------------------------------------------------

     57       The Plaza at Point Happy   Subject to the satisfaction of certain
                                         criteria, the Mortgage Loan documents
                                         allow members of the Mortgagor the
                                         right to pledge their interests in the
                                         Mortgagor to secure a mezzanine loan
                                         pursuant to the security instrument.
-----------------------------------------------------------------------------------

     155      Tucker Street Apartments   Subject to the  satisfaction  of certain
                                         criteria, the Mortgage Loan documents
                                         require the Mortgagor to transfer the
                                         Mortgaged Property to Tucker Street
                                         Investors, LLC within 90 days of loan
                                         origination, which may be extended in
                                         the sole discretion of the holder of
                                         the Mortgage Loan, an additional 90
                                         days upon evidence of Mortgagor's
                                         diligent pursuit of the required
                                         transfer.
-----------------------------------------------------------------------------------

     110      Eastpoint Business Park    Subject to the satisfaction of certain
                                         conditions, transfers to affiliates and
                                         other entities or individuals are
                                         permitted pursuant to the Mortgage Loan
                                         documents.
-----------------------------------------------------------------------------------

      2       53 State Street            Subject  to the  satisfaction  of certain
                                         conditions, transfers to affiliates and
                                         other entities or individuals are
                                         permitted pursuant to the Mortgage Loan
                                         documents.
-----------------------------------------------------------------------------------

     23       Foothills Mall             Subject  to the  satisfaction  of certain
                                         conditions, transfers to affiliates and
                                         other entities or individuals are
                                         permitted pursuant to the Mortgage Loan
                                         documents.
-----------------------------------------------------------------------------------

    7-21      Colony III Portfolio       Subject to the satisfaction of certain
                                         conditions, transfers to affiliates and
                                         other entities or individuals are
                                         permitted pursuant to the Mortgage Loan
                                         documents.

                                         Subject to the satisfaction of certain
                                         criteria, the Mortgage Loan documents
                                         allow members of the Mortgagor the
                                         right to pledge their interests in the
                                         Mortgagor to secure a mezzanine loan
                                         pursuant to the security instrument.
-----------------------------------------------------------------------------------

      3       RREEF Silicon Valley       Subject to the satisfaction  of certain
              Office Portfolio           conditions,  transfers to affiliates  and
                                         other entities or individuals are
                                         permitted pursuant to the Mortgage Loan
                                         documents.
-----------------------------------------------------------------------------------

     41       Commerce Center I          Subject  to the  satisfaction  of certain
                                         conditions, transfers to affiliates and
                                         other entities or individuals are
                                         permitted pursuant to the Mortgage Loan
                                         documents.

                                         Subject to the satisfaction of certain
                                         criteria, the Mortgage Loan documents
                                         allow members of the Mortgagor the
                                         right to pledge their interests in the
                                         Mortgagor to secure a mezzanine loan
                                         pursuant to the security instrument.
-----------------------------------------------------------------------------------

     52       Executive Tower            Subject  to the  satisfaction  of certain
                                         conditions, transfers to affiliates and
                                         other entities or individuals are
                                         permitted pursuant to the Mortgage Loan
                                         documents.

                                         Subject to the satisfaction of certain
                                         criteria, the Mortgage Loan documents
                                         allow members of the Mortgagor the
                                         right to pledge their interests in the
                                         Mortgagor to secure a mezzanine loan
                                         pursuant to the security instrument.
-----------------------------------------------------------------------------------

     66       2350 Ravine Way            Subject  to the  satisfaction  of certain
                                         conditions, transfers to affiliates and
                                         other entities or individuals are
                                         permitted pursuant to the Mortgage Loan
                                         documents.
-----------------------------------------------------------------------------------

     137      Century Boulevard          Subject  to the  satisfaction  of certain
                                         conditions, transfers to affiliates and
                                         other entities or individuals are
                                         permitted pursuant to the Mortgage Loan
                                         documents.

                                         Subject to the satisfaction of certain
                                         criteria, the Mortgage Loan documents
                                         allow members of the Mortgagor the
                                         right to pledge their interests in the
                                         Mortgagor to secure a mezzanine loan
                                         pursuant to the security instrument.
-----------------------------------------------------------------------------------
</TABLE>

Representation #(33)
--------------------
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------
 Loan Number          Loan Name                  Description of Exception
-----------------------------------------------------------------------------------
<S>           <C>                        <C>
      3       RREEF Silicon Valley       The Mortgaged Property secures the
              Office Portfolio           Mortgage  Loan  (consisting of a  Fixed
                                         Rate A-2 Note), a Fixed Rate A-1 Note
                                         (which is pari passu with the Mortgage
                                         Loan and is not included in the trust
                                         fund) and a Floating Rate A Note and
                                         Floating Rate B Note (which are pari
                                         passu with the Mortgage Loan and Fixed
                                         Rate A-1 Note and are not included in
                                         the trust fund).
-----------------------------------------------------------------------------------
</TABLE>

Representation #(35)
--------------------
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------
 Loan Number          Loan Name                  Description of Exception
-----------------------------------------------------------------------------------
<S>           <C>                        <C>
     30       Neiss Portfolio            Each Neiss Portfolio property may be
                                         released from the lien of the Mortgage
                                         upon defeasance of an amount equal to
                                         110% of the allocated loan amount.
-----------------------------------------------------------------------------------

    7-21      Colony III Portfolio       Each Colony property may be released
                                         from the lien of the Mortgage upon
                                         defeasance of an amount equal to between
                                         105% and 107.5% of the allocated loan
                                         amount.  Additionally, each Colony
                                         property may be released from the lien
                                         of the Mortgaged upon the Mortgagor
                                         providing a letter of credit in an
                                         amount equal to 105% of the allocated
                                         loan amount.

                                         The Mortgagor may obtain a release of
                                         an individual Mortgaged Property by
                                         substituting its interest in other
                                         Mortgaged Properties as collateral
                                         during the term of the Mortgage Loan,
                                         subject to certain conditions as set
                                         forth in the related Mortgage Loan
                                         documents.
-----------------------------------------------------------------------------------

      3       RREEF Silicon Valley       Each RREEF property may be released from
              Office Portfolio           the lien of the Mortgage upon defeasance
                                         of an amount equal to between 105% and
                                         115% of the allocated loan amount to
                                         such property.
-----------------------------------------------------------------------------------
</TABLE>

Representation #(36)
--------------------
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------
 Loan Number          Loan Name                  Description of Exception
-----------------------------------------------------------------------------------
<S>           <C>                        <C>
     140      Emmorton Professional      Because the Mortgage Loan is  structured
              Building                   for tax  purposes as  an  IDOT,   the
                                         indemnity guarantor of the IDOT owns
                                         the related Mortgaged Property instead
                                         of the related Mortgagor.
-----------------------------------------------------------------------------------

     41       Commerce Center I          Because the Mortgage Loan is structured
                                         for tax purposes as an IDOT, the
                                         indemnity guarantor of the IDOT owns
                                         the related Mortgaged Property instead
                                         of the related Mortgagor.
-----------------------------------------------------------------------------------

     137      Century Boulevard          Because the Mortgage Loan is structured
                                         for tax purposes as an IDOT, the
                                         indemnity guarantor of the IDOT owns
                                         the related Mortgaged Property instead
                                         of the related Mortgagor.
-----------------------------------------------------------------------------------

     25       Stevens Center Business    The Mortgaged  Properties are governed by
              Park                       two tenant-in-common agreements. An
                                         entity other than the Mortgagor has
                                         ownership interest in each of the
                                         Mortgaged Properties governed by those
                                         agreements.
-----------------------------------------------------------------------------------
</TABLE>

Representation #(37)
--------------------
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------
 Loan Number          Loan Name                  Description of Exception
-----------------------------------------------------------------------------------
<S>           <C>                        <C>
  147; 67;    Storage Solutions;
103; 23; 146; Country Corner Shopping
  7-21; 22;   Center; Donato Corporate
 48; 108; 3;  Park; Foothills Mall;
     52       Ramada Inn-Tampa; Colony
              III Portfolio (13524
              Welch Road, 4550 Spring
              Valley Road and
              Flotilla); CNL/Welsh
              Portfolio (ADS
              Logistics-IN, ADS
              Logistics-NC, GMR
              Marketing and HK System);
              Villa Verde Apartments;
              Woodstock Square Shopping
              Center; RREEF Silicon
              Valley Office Portfolio
              (Mountain View
              Properties, Orchard Park
              and Sunnyvale/Santa        The respective  Mortgaged  Properties are
              Clara/San Jose);           legally nonconforming due to deficient
              Executive Tower            parking.
-----------------------------------------------------------------------------------

     152      30 East Hoffman Avenue     The Mortgaged Property is nonconforming
                                         due to setback, density and parking
                                         violations.
-----------------------------------------------------------------------------------

     22       CNL/Welsh Portfolio        One of the  CNL/Welsh Portfolio
                                         properties (Fingerhut Property) is
                                         nonconforming due to setback and
                                         parking violations. The property is
                                         considered nonconforming as to parking
                                         because the parking area is not
                                         striped.
-----------------------------------------------------------------------------------

    7-21      Colony III Portfolio       One of the Colony Line B properties
                                         (155 Pfingsten) is nonconforming due to
                                         deficient parking. According to the
                                         zoning report, if the parking area is
                                         restriped to add 5 parking spaces, the
                                         property will be legal nonconforming.
-----------------------------------------------------------------------------------

      3       RREEF Silicon Valley       Five of the RREEF properties  (Peery Park
              Office Portfolio           Biotech,  Peery  Park I,  Peery  Park II,
                                         Macara A&B and Sunnyvale/Santa
                                         Clara/San Jose) are legally
                                         nonconforming due to excessive parking.
-----------------------------------------------------------------------------------
</TABLE>

Representation #(42)
--------------------
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------
 Loan Number          Loan Name                  Description of Exception
-----------------------------------------------------------------------------------
<S>           <C>                        <C>
     22       CNL/Welsh Portfolio        Terrorism insurance premiums are capped at
                                         $130,000 per year, subject to annual
                                         increases based on the Consumer Price
                                         Index.
-----------------------------------------------------------------------------------

     101      Orleans Business Park      Terrorism insurance premiums are capped
                                         at $30,000 per year.
-----------------------------------------------------------------------------------

     127      Orleans Business Park II   Terrorism insurance premiums are capped
                                         at $30,000 per year.
-----------------------------------------------------------------------------------

      2       53 State Street            Terrorism insurance premiums are capped
                                         at $300,000 per year, subject to annual
                                         increases based on the Consumer Price
                                         Index.
-----------------------------------------------------------------------------------

    7-21      Colony III Portfolio       Terrorism insurance premiums are capped at
                                         between $5,000 and $60,000 per year for
                                         each of the Colony properties.
-----------------------------------------------------------------------------------

      3       RREEF Silicon Valley       Terrorism insurance premiums are capped
              Office Portfolio           at $200,000 per year.
-----------------------------------------------------------------------------------

     41       Commerce Center I          Terrorism insurance premiums are capped
                                         at $50,000 per year.
-----------------------------------------------------------------------------------

     52       Executive Tower            Terrorism insurance premiums are capped
                                         at $50,000 per year.
-----------------------------------------------------------------------------------

     137      Century Boulevard          Terrorism insurance premiums are capped
                                         at $50,000 per year.
-----------------------------------------------------------------------------------
</TABLE>

<PAGE>

                                    EXHIBIT D

                          FORM OF OFFICER'S CERTIFICATE

            I, [______], a duly appointed, qualified and acting [______] of
[___________], a [________] [______] (the "Company"), hereby certify on behalf
of the Company as follows:

            1. I have examined the Mortgage Loan Purchase Agreement, dated as
of September 1, 2006 (the "Agreement"), between the Company and J.P. Morgan
Chase Commercial Mortgage Securities Corp., and all of the representations and
warranties of the Company under the Agreement are true and correct in all
material respects on and as of the date hereof (or, in the case of any
particular representation or warranty set forth on Exhibit B to the Agreement,
as of such other date provided for in such representation or warranty) with the
same force and effect as if made on and as of the date hereof, subject to the
exceptions set forth in the Agreement (including Exhibit C thereto).

            2. The Company has complied with all the covenants and satisfied all
the conditions on its part to be performed or satisfied under the Agreement on
or prior to the date hereof and no event has occurred which, with notice or the
passage of time or both, would constitute a default under the Agreement.

            3. I have examined the information regarding the Mortgage Loans in
the Prospectus, dated September 12, 2006, as supplemented by the Prospectus
Supplement, dated September 22, 2006 (collectively, the "Prospectus"), relating
to the offering of the Class A-1, Class A-2, Class A-3A, Class A-3FL, Class
A-3B, Class A-4, Class A-SB, Class A-1A, Class A-J, Class X, Class B, Class C
and Class D Certificates, the Private Placement Memorandum, dated September 22,
2006 (the "Privately Offered Certificate Private Placement Memorandum"),
relating to the offering of the Class E, Class F, Class G, Class H, Class J,
Class K, Class L, Class M, Class N, Class P and Class NR Certificates, and the
Residual Private Placement Memorandum, dated September 22, 2006 (together with
the Privately Offered Certificate Private Placement Memorandum, the "Private
Placement Memoranda"), relating to the offering of the Class R and Class LR
Certificates, and nothing has come to my attention that would lead me to believe
that the Prospectus, as of the date of the Prospectus Supplement or as of the
date hereof, or the Private Placement Memoranda, as of the date of the Private
Placement Memoranda or as of the date hereof, included or includes any untrue
statement of a material fact relating to the Mortgage Loans or omitted or omits
to state therein a material fact necessary in order to make the statements
therein relating to the Mortgage Loans, in light of the circumstances under
which they were made, not misleading.

            Capitalized terms used herein without definition have the meanings
given them in the Agreement.

                    [SIGNATURE APPEARS ON THE FOLLOWING PAGE]
<PAGE>

            IN WITNESS WHEREOF, I have signed my name this ___ day of September,
2006.

                                       By:____________________________________
                                          Name:
                                          Title:
<PAGE>

                                   SCHEDULE I

  MORTGAGE LOANS FOR WHICH A LENDER'S ENVIRONMENTAL POLICY WAS OBTAINED IN LIEU
                       OF AN ENVIRONMENTAL SITE ASSESSMENT

Reference is made to the Representations and Warranties set forth in Exhibit
B attached hereto corresponding to the Paragraph number set forth below.

Paragraph 21(a) and (e):         None.
<PAGE>

                                   SCHEDULE II

                       MORTGAGED PROPERTY FOR WHICH OTHER
                      ENVIRONMENTAL INSURANCE IS MAINTAINED

Reference is made to the Representations and Warranties set forth in Exhibit
B attached hereto corresponding to the Paragraph numbers set forth below:

1.    RREEF Silicon Valley Office Portfolio (all properties)

2.    CNL/Welsh Portfolio (Olsen Engineering, LLC property)

3.    Colony III Portfolio (13524 Welch property)Exhibit 10.2

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

           J.P. MORGAN CHASE COMMERCIAL MORTGAGE SECURITIES CORP.,

                                    PURCHASER

                          EUROHYPO AG, NEW YORK BRANCH,

                                     SELLER

                        MORTGAGE LOAN PURCHASE AGREEMENT

                          Dated as of September 1, 2006

                            Fixed Rate Mortgage Loans

                                Series 2006-LDP8

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

<PAGE>

            This Mortgage Loan Purchase Agreement (this "Agreement"), dated as
of September 1, 2006, is between J.P. Morgan Chase Commercial Mortgage
Securities Corp., as purchaser (the "Purchaser"), and Eurohypo AG, New York
Branch, as seller (the "Seller").

            Capitalized terms used in this Agreement not defined herein shall
have the meanings ascribed to them in the Pooling and Servicing Agreement dated
as of September 1, 2006 (the "Pooling and Servicing Agreement") among the
Purchaser, as depositor (the "Depositor"), Wells Fargo Bank N.A. and Midland
Loan Services, Inc., as master servicers (each, a "Master Servicer"), J.E.
Robert Company, Inc., as special servicer (the "Special Servicer"), and LaSalle
Bank National Association, as trustee (the "Trustee"), pursuant to which the
Purchaser will sell the Mortgage Loans (as defined herein) to a trust fund and
certificates representing ownership interests in the Mortgage Loans will be
issued by the trust fund. For purposes of this Agreement, the term "Mortgage
Loans" refers to the mortgage loans listed on Exhibit A and the term "Mortgaged
Properties" refers to the properties securing such Mortgage Loans.

            The Purchaser and the Seller wish to prescribe the manner of sale of
the Mortgage Loans from the Seller to the Purchaser and in consideration of the
premises and the mutual agreements hereinafter set forth, agree as follows:

            SECTION 1. Sale and Conveyance of Mortgages; Possession of Mortgage
File. Effective as of the Closing Date and upon receipt of the purchase price
set forth in the immediately succeeding paragraph, the Seller does hereby sell,
transfer, assign, set over and convey to the Purchaser, without recourse
(subject to certain agreements regarding servicing as provided in the Pooling
and Servicing Agreement, subservicing agreements permitted thereunder and that
certain Servicing Rights Purchase Agreement, dated as of the Closing Date
between the applicable Master Servicer and the Seller) all of its right, title,
and interest in and to the Mortgage Loans including all interest and principal
received on or with respect to the Mortgage Loans after the Cut-off Date (other
than payments of principal and interest first due on the Mortgage Loans on or
before the Cut-off Date). Upon the sale of the Mortgage Loans, the ownership of
each related Mortgage Note, the Mortgage and the other contents of the related
Mortgage File will be vested in the Purchaser and immediately thereafter the
Trustee and the ownership of records and documents with respect to the related
Mortgage Loan prepared by or which come into the possession of the Seller (other
than the records and documents described in the proviso to Section 3(a) hereof)
shall immediately vest in the Purchaser and immediately thereafter the Trustee.
The Seller's records will accurately reflect the sale of each Mortgage Loan to
the Purchaser. The Depositor will sell the Class A-1, Class A-2, Class A-3A,
Class A-3FL, Class A-3B, Class A-4, Class A-SB, Class A-1A, Class X, Class A-M,
Class A-J, Class B, Class C and Class D Certificates (the "Offered
Certificates") to the underwriters (the "Underwriters") specified in the
underwriting agreement dated September 22, 2006 (the "Underwriting Agreement")
between the Depositor and J.P. Morgan Securities Inc. ("JPMSI") for itself and
as representative of the several underwriters identified therein, and the
Depositor will sell the Class E, Class F Class G, Class H, Class J, Class K,
Class L, Class M, Class N, Class P and Class NR Certificates (the "Private
Certificates") to JPMSI, the initial purchaser (together with the Underwriters,
the "Dealers") specified in the certificate purchase agreement dated September
22, 2006 (the "Certificate Purchase Agreement"), between the Depositor and JPMSI
for itself and as representative of the initial purchasers identified therein.

            The sale and conveyance of the Mortgage Loans is being conducted on
an arms length basis and upon commercially reasonable terms. As the purchase
price for the Mortgage Loans, the Purchaser shall pay to the Seller or at the
Seller's direction in immediately available funds the sum of $614,345,257.10
(which amount is inclusive of accrued interest and exclusive of the Seller's pro
rata share of the costs set forth in Section 9 hereof). The purchase and sale of
the Mortgage Loans shall take place on the Closing Date.

            SECTION 2. Books and Records; Certain Funds Received After the
Cut-off Date. From and after the sale of the Mortgage Loans to the Purchaser,
record title to each Mortgage and the related Mortgage Note shall be transferred
to the Trustee in accordance with this Agreement. Any funds due after the
Cut-off Date in connection with a Mortgage Loan received by the Seller shall be
held in trust for the benefit of the Trustee as the owner of such Mortgage Loan
and shall be transferred promptly to the applicable Master Servicer. All
scheduled payments of principal and interest due on or before the Cut-off Date
but collected after the Cut-off Date, and recoveries of principal and interest
collected on or before the Cut-off Date (only in respect of principal and
interest on the Mortgage Loans due on or before the Cut-off Date and principal
prepayments thereon), shall belong to, and shall be promptly remitted to, the
Seller.

            The transfer of each Mortgage Loan shall be reflected on the
Seller's balance sheets and other financial statements as a sale of the Mortgage
Loans by the Seller to the Purchaser. The Seller intends to treat the transfer
of each Mortgage Loan to the Purchaser as a sale for tax purposes.

            The transfer of each Mortgage Loan shall be reflected on the
Purchaser's balance sheets and other financial statements as a purchase of the
Mortgage Loans by the Purchaser from the Seller. The Purchaser intends to treat
the transfer of each Mortgage Loan from the Seller as a purchase for tax
purposes.

            SECTION 3. Delivery of Mortgage Loan Documents; Additional Costs and
Expenses. (a) The Purchaser hereby directs the Seller, and the Seller hereby
agrees, upon the transfer of the Mortgage Loans contemplated herein, to deliver
on the Closing Date to the Trustee or a Custodian appointed thereby, all
documents, instruments and agreements required to be delivered by the Purchaser
to the Trustee with respect to the Mortgage Loans under Sections 2.01(b) and
2.01(c) of the Pooling and Servicing Agreement, and meeting all the requirements
of such Sections 2.01(b) and 2.01(c), and such other documents, instruments and
agreements as the Purchaser or the Trustee shall reasonably request. In
addition, the Seller agrees to deliver or cause to be delivered to the
applicable Master Servicer, the Servicing File for each Mortgage Loan
transferred pursuant to this Agreement; provided that the Seller shall not be
required to deliver any draft documents, or any attorney client communications
which are privileged communications or constitute legal or other due diligence
analyses, or internal communications of the Seller or its affiliates, or credit
underwriting or other analyses or data.

            (b) With respect to the transfer described in Section 1 hereof, if
the Mortgage Loan documents do not require the related Mortgagor to pay any
costs and expenses relating to any modifications to a related letter of credit
which modifications are required to effectuate such transfer (the "Transfer
Modification Costs"), then the Seller shall pay the Transfer Modification Costs
required to transfer the letter of credit to the Trustee as described in such
Section 1; provided that if the Mortgage Loan documents require the related
Mortgagor to pay any Transfer Modification Costs, such Transfer Modification
Costs shall be an expense of the Mortgagor unless such Mortgagor fails to pay
such Transfer Modification Costs after the applicable Master Servicer has
exercised all remedies available under the applicable Mortgage Loan documents to
collect such Transfer Modification Costs from such Mortgagor, in which case the
applicable Master Servicer shall give the Seller notice of such failure and the
amount of such Transfer Modification costs and the Seller shall pay such
Transfer Modification Costs.

            SECTION 4. Treatment as a Security Agreement. The Seller,
concurrently with the execution and delivery hereof, has conveyed to the
Purchaser, all of its right, title and interest in and to the Mortgage Loans.
The parties intend that such conveyance of the Seller's right, title and
interest in and to the Mortgage Loans pursuant to this Agreement shall
constitute a purchase and sale and not a loan. If such conveyance is deemed to
be a pledge and not a sale, then the parties also intend and agree that the
Seller shall be deemed to have granted, and in such event does hereby grant, to
the Purchaser, a first priority security interest in all of its right, title and
interest in, to and under the Mortgage Loans, all payments of principal or
interest on such Mortgage Loans due after the Cut-off Date, all other payments
made in respect of such Mortgage Loans after the Cut-off Date (except to the
extent such payments were due on or before the Cut-off Date) and all proceeds
thereof and that this Agreement shall constitute a security agreement under
applicable law. If such conveyance is deemed to be a pledge and not a sale, the
Seller consents to the Purchaser hypothecating and transferring such security
interest in favor of the Trustee and transferring the obligation secured thereby
to the Trustee.

            SECTION 5. Covenants of the Seller. The Seller covenants with the
Purchaser as follows:

            (a) it shall record or cause a third party to record in the
appropriate public recording office for real property the intermediate
assignments of the Mortgage Loans and the Assignments of Mortgage from the
Seller to the Trustee in connection with the Pooling and Servicing Agreement.
All recording fees relating to the initial recordation of such intermediate
assignments and Assignments of Mortgage shall be paid by the Seller;

            (b) it shall take any action reasonably required by the Purchaser,
the Trustee or the applicable Master Servicer, in order to assist and facilitate
in the transfer of the servicing of the Mortgage Loans to the applicable Master
Servicer, including effectuating the transfer of any letters of credit with
respect to any Mortgage Loan to the Trustee (in care of the applicable Master
Servicer) for the benefit of Certificateholders. Prior to the date that a letter
of credit, if any, with respect to any Mortgage Loan is transferred to the
Trustee (in care of the applicable Master Servicer), the Seller will cooperate
with the reasonable requests of the applicable Master Servicer or Special
Servicer, as applicable, in connection with effectuating a draw under such
letter of credit as required under the terms of the related Mortgage Loan
documents;

            (c) if, during such period of time after the first date of the
public offering of the Offered Certificates as in the opinion of counsel for the
Underwriters, a prospectus relating to the Offered Certificates is required by
applicable law to be delivered in connection with sales thereof by an
Underwriter or a Dealer, any event shall occur as a result of which it is
necessary to amend or supplement the Prospectus Supplement, including Annexes
A-1, A-2, A-3 and B thereto and the Diskette included therewith, with respect to
any information relating to the Mortgage Loans or the Seller, in order to make
the statements therein, in the light of the circumstances when the Prospectus
Supplement is delivered to a purchaser, not misleading, or if it is necessary to
amend or supplement the Prospectus Supplement, including Annexes A-1, A-2, A-3
and B thereto and the Diskette included therewith, with respect to any
information relating to the Mortgage Loans or the Seller, to comply with
applicable law, the Seller shall do all things necessary to assist the Depositor
to prepare and furnish, at the expense of the Seller (to the extent that such
amendment or supplement relates to the Seller, the Mortgage Loans listed on
Exhibit A and/or any information relating to the same, as provided by the
Seller), to the Underwriters such amendments or supplements to the Prospectus
Supplement as may be necessary, so that the statements in the Prospectus
Supplement as so amended or supplemented, including Annexes A-1, A-2, A-3 and B
thereto and the Diskette included therewith, with respect to any information
relating to the Mortgage Loans or the Seller, will not, in the light of the
circumstances when the Prospectus is so amended or supplemented, be misleading
or so that the Prospectus Supplement, including Annexes A-1, A-2, A-3 and B
thereto and the Diskette included therewith, with respect to any information
relating to the Mortgage Loans or the Seller, will comply with applicable law.
All terms used in this clause (c) and not otherwise defined herein shall have
the meaning set forth in the Indemnification Agreement, dated as of September
22, 2006 between the Purchaser and the Seller (the "Indemnification Agreement");
and

            (d) for so long as the Trust is subject to the reporting
requirements of the Exchange Act, the Seller shall provide the Purchaser (or
with respect to any Companion Loan related to a Serviced Whole Loan or any
Serviced Securitized Companion Loan that is deposited into an Other
Securitization or a Regulation AB Companion Loan Securitization, the depositor
in such Other Securitization or Regulation AB Companion Loan Securitization) and
the Trustee with any Additional Form 10-D Disclosure and any Additional Form
10-K Disclosure set forth next to the Purchaser's name on Exhibit X and Exhibit
Y of the Pooling and Servicing Agreement within the time periods set forth in
the Pooling and Servicing Agreement.

            SECTION 6.  Representations and Warranties.

            (a) The Seller represents and warrants to the Purchaser as of the
Closing Date that:

               (i) it is duly licensed and authorized to transact business in
      the State of New York as a branch of a foreign bank under Article V of the
      Banking Law of the United States;

               (ii) it has the power and authority to own its property and to
      carry on its business as now conducted;

               (iii) it has the power to execute, deliver and perform this
      Agreement;

               (iv) it is legally authorized to transact business in the State
      of New York. The Seller is in compliance with the laws of each state in
      which any Mortgaged Property is located to the extent necessary so that a
      subsequent holder of the related Mortgage Loan (including, without
      limitation, the Purchaser) that is in compliance with the laws of such
      state would not be prohibited from enforcing such Mortgage Loan solely by
      reason of any non-compliance by the Seller;

               (v) the execution, delivery and performance of this Agreement by
      the Seller have been duly authorized by all requisite action by the
      Seller's board of directors and will not violate or breach any provision
      of its organizational documents;

               (vi) this Agreement has been duly executed and delivered by the
      Seller and constitutes a legal, valid and binding obligation of the
      Seller, enforceable against it in accordance with its terms (except as
      enforcement thereof may be limited by bankruptcy, receivership,
      conservatorship, reorganization, insolvency, moratorium or other laws
      affecting the enforcement of creditors' rights generally and by general
      equitable principles regardless of whether enforcement is considered in a
      proceeding in equity or at law);

               (vii) there are no legal or governmental proceedings pending to
      which the Seller is a party or of which any property of the Seller is the
      subject which, if determined adversely to the Seller, would reasonably be
      expected to adversely affect (A) the transfer of the Mortgage Loans and
      the Mortgage Loan documents as contemplated herein, (B) the execution and
      delivery by the Seller or enforceability against the Seller of the
      Mortgage Loans or this Agreement, or (C) the performance of the Seller's
      obligations hereunder;

               (viii) it has no actual knowledge that any statement, report,
      officer's certificate or other document prepared and furnished or to be
      furnished by the Seller in connection with the transactions contemplated
      hereby (including, without limitation, any financial cash flow models and
      underwriting file abstracts furnished by the Seller) contains any untrue
      statement of a material fact or omits to state a material fact necessary
      in order to make the statements contained therein, in the light of the
      circumstances under which they were made, not misleading;

               (ix) it is not, nor with the giving of notice or lapse of time or
      both would be, in violation of or in default under any indenture,
      mortgage, deed of trust, loan agreement or other agreement or instrument
      to which it is a party or by which it or any of its properties is bound,
      except for violations and defaults which individually and in the aggregate
      would not have a material adverse effect on the transactions contemplated
      herein; the sale of the Mortgage Loans and the performance by the Seller
      of all of its obligations under this Agreement and the consummation by the
      Seller of the transactions herein contemplated do not conflict with or
      result in a breach of any of the terms or provisions of, or constitute a
      default under, any material indenture, mortgage, deed of trust, loan
      agreement or other agreement or instrument to which the Seller is a party
      or by which the Seller is bound or to which any of the property or assets
      of the Seller is subject, nor will any such action result in any violation
      of the provisions of any applicable law or statute or any order, rule or
      regulation of any court or governmental agency or body having jurisdiction
      over the Seller, or any of its properties, except for conflicts, breaches,
      defaults and violations which individually and in the aggregate would not
      have a material adverse effect on the transactions contemplated herein;
      and no consent, approval, authorization, order, license, registration or
      qualification of or with any such court or governmental agency or body is
      required for the consummation by the Seller of the transactions
      contemplated by this Agreement, other than any consent, approval,
      authorization, order, license, registration or qualification that has been
      obtained or made;

               (x) it has either (A) not dealt with any Person (other than the
      Purchaser or the Dealers or their respective affiliates or any servicer of
      a Mortgage Loan) that may be entitled to any commission or compensation in
      connection with the sale or purchase of the Mortgage Loans or entering
      into this Agreement or (B) paid in full any such commission or
      compensation (except with respect to any servicer of a Mortgage Loan, any
      commission or compensation that may be due and payable to such servicer if
      such servicer is terminated and does not continue to act as a servicer);
      and

               (xi) it is solvent and the sale of the Mortgage Loans hereunder
      will not cause it to become insolvent; and the sale of the Mortgage Loans
      is not undertaken with the intent to hinder, delay or defraud any of the
      Seller's creditors.

            (b) The Purchaser represents and warrants to the Seller as of the
Closing Date that:

               (i) it is a corporation duly organized, validly existing, and in
      good standing in the State of Delaware;

               (ii) it is duly qualified as a foreign corporation in good
      standing in all jurisdictions in which ownership or lease of its property
      or the conduct of its business requires such qualification, except where
      the failure to be so qualified would not have a material adverse effect on
      the Purchaser, and the Purchaser is conducting its business so as to
      comply in all material respects with the applicable statutes, ordinances,
      rules and regulations of each jurisdiction in which it is conducting
      business;

               (iii) it has the power and authority to own its property and to
      carry on its business as now conducted;

               (iv) it has the power to execute, deliver and perform this
      Agreement, and neither the execution and delivery by the Purchaser of this
      Agreement, nor the consummation by the Purchaser of the transactions
      herein contemplated, nor the compliance by the Purchaser with the
      provisions hereof, will (A) conflict with or result in a breach of, or
      constitute a default under, any of the provisions of the certificate of
      incorporation or by-laws of the Purchaser or any of the provisions of any
      law, governmental rule, regulation, judgment, decree or order binding on
      the Purchaser or any of its properties, or any indenture, mortgage,
      contract or other instrument or agreement to which the Purchaser is a
      party or by which it is bound, or (B) result in the creation or imposition
      of any lien, charge or encumbrance upon any of the Purchaser's property
      pursuant to the terms of any such indenture, mortgage, contract or other
      instrument or agreement;

               (v) this Agreement constitutes a legal, valid and binding
      obligation of the Purchaser enforceable against it in accordance with its
      terms (except as enforcement thereof may be limited by (a) bankruptcy,
      receivership, conservatorship, reorganization, insolvency, moratorium or
      other laws affecting the enforcement of creditors' rights generally and
      (b) general equitable principles (regardless of whether enforcement is
      considered in a proceeding in equity or law));

               (vi) there are no legal or governmental proceedings pending to
      which the Purchaser is a party or of which any property of the Purchaser
      is the subject which, if determined adversely to the Purchaser, might
      interfere with or adversely affect the consummation of the transactions
      contemplated herein and in the Pooling and Servicing Agreement; to the
      best of the Purchaser's knowledge, no such proceedings are threatened or
      contemplated by any governmental authorities or threatened by others;

               (vii) it is not in default with respect to any order or decree of
      any court or any order, regulation or demand of any federal, state
      municipal or governmental agency, which default might have consequences
      that would materially and adversely affect the condition (financial or
      other) or operations of the Purchaser or its properties or might have
      consequences that would materially and adversely affect its performance
      hereunder;

               (viii) it has not dealt with any broker, investment banker, agent
      or other person, other than the Seller, the Dealers and their respective
      affiliates, that may be entitled to any commission or compensation in
      connection with the purchase and sale of the Mortgage Loans or the
      consummation of any of the transactions contemplated hereby;

               (ix) all consents, approvals, authorizations, orders or filings
      of or with any court or governmental agency or body, if any, required for
      the execution, delivery and performance of this Agreement by the Purchaser
      have been obtained or made; and

               (x) it has not intentionally violated any provisions of the
      United States Secrecy Act, the United States Money Laundering Control Act
      of 1986 or the United States International Money Laundering Abatement and
      Anti-Terrorism Financing Act of 2001.

            (c) The Seller further makes the representations and warranties as
to the Mortgage Loans set forth in Exhibit B as of the Closing Date (or as of
such other date if specifically provided in the particular representation or
warranty), which representations and warranties are subject to the exceptions
thereto set forth in Exhibit C. Neither the delivery by the Seller of the
Mortgage Files, Servicing Files, or any other documents required to be delivered
under Section 2.01 of the Pooling and Servicing Agreement, nor the review
thereof or any other due diligence by the Trustee, any Master Servicer, the
Special Servicer, a Certificate Owner or any other Person shall relieve the
Seller of any liability or obligation with respect to any representation or
warranty or otherwise under this Agreement or constitute notice to any Person of
a Breach or Defect.

            (d) Pursuant to this Agreement or Section 2.03(b) of the Pooling and
Servicing Agreement, the Seller and the Purchaser shall be given notice of any
Breach or Defect that materially and adversely affects the value of any Mortgage
Loan, the value of the related Mortgaged Property or the interests of the
Trustee or any Certificateholder therein.

            (e) Upon notice pursuant to Section 6(d) above, the Seller shall,
not later than 90 days from the earlier of the Seller's receipt of the notice
or, in the case of a Defect or Breach relating to a Mortgage Loan not being a
"qualified mortgage" within the meaning of Section 860G(a)(3) of the Code, but
without regard to the rule of Treasury Regulation Section 1.860G-2(f)(2) that
causes a defective mortgage loan to be treated as a qualified mortgage, the
Seller's discovery of such Breach or Defect (the "Initial Resolution Period"),
(i) cure such Defect or Breach, as the case may be, in all material respects,
(ii) repurchase the affected Mortgage Loan at the applicable Repurchase Price
(as defined below) or (iii) substitute a Qualified Substitute Mortgage Loan (as
defined below) for such affected Mortgage Loan (provided that in no event shall
any such substitution occur later than the second anniversary of the Closing
Date) and pay the applicable Master Servicer for deposit into the Certificate
Account, any Substitution Shortfall Amount (as defined below) in connection
therewith; provided, however, that except with respect to a Defect resulting
solely from the failure by the Seller to deliver to the Trustee or Custodian the
actual policy of lender's title insurance required pursuant to clause (ix) of
the definition of Mortgage File by a date not later than 18 months following the
Closing Date, if such Breach or Defect is capable of being cured but is not
cured within the Initial Resolution Period, and the Seller has commenced and is
diligently proceeding with the cure of such Breach or Defect within the Initial
Resolution Period, the Seller shall have an additional 90 days commencing
immediately upon the expiration of the Initial Resolution Period (the "Extended
Resolution Period") to complete such cure (or, failing such cure, to repurchase
the related Mortgage Loan or substitute a Qualified Substitute Mortgage Loan as
described above); and provided, further, that with respect to the Extended
Resolution Period the Seller shall have delivered an officer's certificate to
the Rating Agencies, the applicable Master Servicer, the Special Servicer, the
Trustee and the Directing Certificateholder setting forth the reason such Breach
or Defect is not capable of being cured within the Initial Resolution Period and
what actions the Seller is pursuing in connection with the cure thereof and
stating that the Seller anticipates that such Breach or Defect will be cured
within the Extended Resolution Period. Notwithstanding the foregoing, any Defect
or Breach which causes any Mortgage Loan not to be a "qualified mortgage"
(within the meaning of Section 860G(a)(3) of the Code, without regard to the
rule of Treasury Regulations Section 1.860G-2(f)(2) which causes a defective
mortgage loan to be treated as a qualified mortgage) shall be deemed to
materially and adversely affect the interests of the holders of the Certificates
therein, and such Mortgage Loan shall be repurchased or a Qualified Substitute
Mortgage Loan substituted in lieu thereof without regard to the extended cure
period described in the preceding sentence. If the affected Mortgage Loan is to
be repurchased, the Seller shall remit the Repurchase Price (defined below) in
immediately available funds to the Trustee.

            If any Breach pertains to a representation or warranty that the
related 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), then
Seller shall cure such Breach within the applicable cure period (as the same may
be extended) by reimbursing the Trust Fund (by wire transfer of immediately
available funds) the reasonable amount of any such costs and expenses incurred
by the applicable Master Servicer, the Special Servicer, the Trustee or the
Trust Fund that are the basis of such Breach and have not been reimbursed by the
related Mortgagor; provided, however, that in the event any such costs and
expenses exceed $10,000, the Seller shall have the option to either repurchase
or substitute for the related Mortgage Loan as provided above or pay such costs
and expenses. Except as provided in the proviso to the immediately preceding
sentence, the Seller shall remit the amount of such costs and expenses and upon
its making such remittance, the Seller shall be deemed to have cured such Breach
in all respects. To the extent any fees or expenses that are the subject of a
cure by the Seller are subsequently obtained from the related Mortgagor, the
portion of the cure payment equal to such fees or expenses obtained from the
Mortgagor shall be returned to the Seller pursuant to Section 2.03(f) of the
Pooling and Servicing Agreement. Notwithstanding the foregoing, the sole remedy
with respect to any breach of the representation set forth in the second to last
sentence of clause (32) of Exhibit B hereto shall be payment by the Seller of
such costs and expenses without respect to the materiality of such breach.

            Any of the following will cause a document in the Mortgage File to
be deemed to have a Defect and to be conclusively presumed to materially and
adversely affect the interests of Certificateholders in a Mortgage Loan and to
be deemed to materially and adversely affect the interests of the
Certificateholders in and the value of a Mortgage Loan: (a) the absence from the
Mortgage File of the original signed Mortgage Note, unless the Mortgage File
contains a signed lost note affidavit and indemnity with a copy of the Mortgage
Note that appears to be regular on its face; (b) the absence from the Mortgage
File of the original signed Mortgage that appears to be regular on its face,
unless there is included in the Mortgage File a certified copy of the Mortgage
and a certificate stating that the original signed Mortgage was sent for
recordation; (c) the absence from the Mortgage File of the lender's title
insurance policy (or if the policy has not yet been issued, an original or copy
of a "marked up" written commitment or the pro-forma or specimen title insurance
policy or a commitment to issue the same pursuant to written escrow instructions
signed by the title insurance company) called for by clause (ix) of the
definition of "Mortgage File" in the Pooling and Servicing Agreement; (d) the
absence from the Mortgage File of any required letter of credit; (e) with
respect to any leasehold mortgage loan, the absence from the related Mortgage
File of a copy (or an original, if available) of the related Ground Lease; or
(f) the absence from the Mortgage File of any intervening assignments required
to create a complete chain of assignments to the Trustee on behalf of the Trust,
unless there is included in the Mortgage File a certified copy of the
intervening assignment and a certificate stating that the original intervening
assignments were sent for recordation; provided, however, that no Defect (except
the Defects previously described in clauses (a) through (f)) shall be considered
to materially and adversely affect the value of any Mortgage Loan, the value of
the related Mortgaged Property or the interests of the Trustee or any
Certificateholder therein unless the document with respect to which the 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 borrower 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 obligation. Notwithstanding the
foregoing, the delivery of executed escrow instructions or a commitment to issue
a lender's title insurance policy, as provided in clause (ix) of the definition
of "Mortgage File" in the Pooling and Servicing Agreement, in lieu of the
delivery of the actual policy of lender's title insurance, shall not be
considered a Defect or Breach with respect to any Mortgage File if such actual
policy is delivered to the Trustee or its Custodian within 18 months after the
Closing Date.

            If (i) any Mortgage Loan is required to be repurchased or
substituted for in the manner described in the first paragraph of this Section
6(e), (ii) such Mortgage Loan is a Crossed Loan, and (iii) the applicable Defect
or Breach does not constitute a 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 Defect or Breach, as the case may be, will be deemed to
constitute a Defect or Breach, as the case may be, as to each other Crossed Loan
in the Crossed Group for purposes of this paragraph, and the Seller will be
required to repurchase or substitute for all of the remaining Crossed Loans in
the related Crossed Group as provided in the first paragraph of this Section
6(e) unless such other Crossed Loans in such Crossed Group satisfy the Crossed
Loan Repurchase Criteria, and the Mortgage Loan affected by the applicable
Defect or Breach and the Qualified Substitute Mortgage Loan, if any, satisfy all
other criteria for repurchase or substitution, as applicable, of Mortgage Loans
set forth herein. In the event that the remaining Crossed Loans satisfy the
aforementioned criteria, the Seller may elect either to repurchase or substitute
for only the affected Crossed Loan as to which the related Breach or Defect
exists or to repurchase or substitute for all of the Crossed Loans in the
related Crossed Group. The Seller shall be responsible for the cost of any
Appraisal required to be obtained by the applicable Master Servicer to determine
if the Crossed Loan Repurchase Criteria have been satisfied, so long as the
scope and cost of such Appraisal has been approved by the Seller (such approval
not to be unreasonably withheld).

            To the extent that the Seller is required to repurchase or
substitute for a Crossed Loan hereunder in the manner prescribed above while the
Trustee continues to hold any other Crossed Loans in such Crossed Group, neither
the Seller nor the Trustee shall enforce any remedies against the other's
Primary Collateral, but each is permitted to exercise remedies against the
Primary Collateral securing its respective Crossed Loans, including with respect
to the Trustee, the Primary Collateral securing Crossed Loans still held by the
Trustee.

            If the exercise of remedies by one party would materially impair the
ability of the other party to exercise its remedies with respect to the Primary
Collateral securing the Crossed Loans held by such party, then the Seller and
the Trustee shall forbear from exercising such remedies until the Mortgage Loan
documents evidencing and securing the relevant Crossed Loans can be modified in
a manner that removes the threat of material impairment as a result of the
exercise of remedies or some other accommodation can be reached. Any reserve or
other cash collateral or letters of credit securing the Crossed Loans shall be
allocated between such Crossed Loans in accordance with the Mortgage Loan
documents, or otherwise on a pro rata basis based upon their outstanding Stated
Principal Balances. Notwithstanding the foregoing, if a Crossed Loan that
remains in the Trust Fund is modified to terminate the related cross
collateralization and/or cross default provisions, as a condition to such
modification, the Seller shall furnish to the Trustee an Opinion of Counsel that
any modification shall not cause an Adverse REMIC Event. Any expenses incurred
by the Purchaser in connection with such modification or accommodation
(including but not limited to recoverable attorney fees) shall be paid by the
Seller.

            The "Repurchase Price" with respect to any Mortgage Loan or REO Loan
to be repurchased pursuant to this Agreement and Section 2.03 of the Pooling and
Servicing Agreement, shall have the meaning given to the term "Purchase Price"
in the Pooling and Servicing Agreement.

            A "Qualified Substitute Mortgage Loan" with respect to any Mortgage
Loan or REO Loan to be substituted pursuant to this Agreement and Section 2.03
of the Pooling and Servicing Agreement, shall have the meaning given to such
term in the Pooling and Servicing Agreement.

            A "Substitution Shortfall Amount" with respect to any Mortgage Loan
or REO Loan to be substituted pursuant to this Agreement and Section 2.03 of the
Pooling and Servicing Agreement, shall have the meaning given to such term in
the Pooling and Servicing Agreement.

            In connection with any repurchase or substitution of one or more
Mortgage Loans contemplated hereby, (i) the Purchaser shall execute and deliver,
or cause the execution and delivery of, such endorsements and assignments,
without recourse, as shall be necessary to vest in the Seller the legal and
beneficial ownership of each repurchased Mortgage Loan or replaced Mortgage
Loan, as applicable, (ii) the Purchaser shall deliver, or cause the delivery, to
the Seller of all portions of the Mortgage File and other documents (including
the Servicing File) pertaining to such Mortgage Loan possessed by the Trustee,
or on the Trustee's behalf, and (iii) the Purchaser shall release, or cause to
be released, to the Seller any escrow payments and reserve funds held by the
Trustee, or on the Trustee's behalf, in respect of such repurchased or replaced
Mortgage Loans.

            (f) The representations and warranties of the parties hereto shall
survive the execution and delivery and any termination of this Agreement and
shall inure to the benefit of the respective parties, notwithstanding any
restrictive or qualified endorsement on the Mortgage Notes or Assignment of
Mortgage or the examination of the Mortgage Files.

            (g) Each party hereby agrees to promptly notify the other party of
any Breach of a representation or warranty contained in this Section 6. The
Seller's obligation to cure any Breach or Defect or repurchase or substitute for
the affected Mortgage Loan pursuant to Section 6(e) herein shall constitute the
sole remedy available to the Purchaser in connection with a Breach or Defect
(subject to the last sentence of the second paragraph of Section 6(e)). It is
acknowledged and agreed that the representations and warranties are being made
for risk allocation purposes only; provided, however, that no limitation of
remedy is implied with respect to the Seller's breach of its obligation to cure,
repurchase or substitute in accordance with the terms and conditions of this
Agreement.

            SECTION 7. Conditions to Closing. The obligations of the Purchaser
to purchase the Mortgage Loans shall be subject to the satisfaction, on or prior
to the Closing Date, of the following conditions:

            (a) Each of the obligations of the Seller required to be performed
by it at or prior to the Closing Date pursuant to the terms of this Agreement
shall have been duly performed and complied with and all of the representations
and warranties of the Seller under this Agreement shall be true and correct in
all material respects as of the Closing Date, and no event shall have occurred
as of the Closing Date which, with notice or passage of time, would constitute a
default under this Agreement, and the Purchaser shall have received a
certificate to the foregoing effect signed by an authorized officer of the
Seller substantially in the form of Exhibit D.

            (b) The Purchaser shall have received the following additional
closing documents:

               (i) copies of the Seller's articles of association and memorandum
      of association, certified as of a recent date by the General Counsel of
      the Seller;

               (ii) an original or copy of a certificate of corporate existence
      of the Seller issued by the State of New York Banking Department dated not
      earlier than sixty days prior to the Closing Date;

               (iii) an opinion of counsel of the Seller, in form and substance
      satisfactory to the Purchaser and its counsel, substantially to the effect
      that:

                  (A) the Seller is duly licensed and authorized to transact
            business in the State of New York as a branch of a foreign bank
            under Article V of the Banking Law of the United States;

                  (B) the Seller has the power to conduct its business as now
            conducted and to incur and perform its obligations under this
            Agreement and the Indemnification Agreement;

                  (C) all necessary corporate or other action has been taken by
            the Seller to authorize the execution, delivery and performance of
            this Agreement and the Indemnification Agreement by the Seller and
            this Agreement is a legal, valid and binding agreement of the Seller
            enforceable against the Seller, whether such enforcement is sought
            in a procedure at law or in equity, except to the extent such
            enforcement may be limited by bankruptcy or other similar creditors'
            laws or principles of equity and public policy considerations
            underlying the securities laws, to the extent that such public
            policy considerations limit the enforceability of the provisions of
            the Agreement which purport to provide indemnification with respect
            to securities law violations;

                  (D) the Seller's execution and delivery of, and the Seller's
            performance of its obligations under, each of this Agreement and the
            Indemnification Agreement do not and will not conflict with the
            Seller's articles of association or by-laws or conflict with or
            result in the breach of any of the terms or provisions of, or
            constitute a default under, any indenture, mortgage, deed of trust,
            loan agreement or other material agreement or instrument to which
            the Seller is a party or by which the Seller is bound, or to which
            any of the property or assets of the Seller is subject or violate
            any provisions of law or conflict with or result in the breach of
            any order of any court or any governmental body binding on the
            Seller;

                  (E) there is no litigation, arbitration or mediation pending
            before any court, arbitrator, mediator or administrative body, or to
            such counsel's actual knowledge, threatened, against the Seller
            which (i) questions, directly or indirectly, the validity or
            enforceability of this Agreement or the Indemnification Agreement or
            (ii) would, if decided adversely to the Seller, either individually
            or in the aggregate, reasonably be expected to have a material
            adverse effect on the ability of the Seller to perform its
            obligations under this Agreement or the Indemnification Agreement;
            and

                  (F) no consent, approval, authorization, order, license,
            registration or qualification of or with federal court or
            governmental agency or body is required for the consummation by the
            Seller of the transactions contemplated by this Agreement and the
            Indemnification Agreement, except such consents, approvals,
            authorizations, orders, licenses, registrations or qualifications as
            have been obtained; and

               (iv) a letter from counsel of the Seller to the effect that
      nothing has come to such counsel's attention that would lead such counsel
      to believe that the Prospectus Supplement as of the date thereof or as of
      the Closing Date contains, with respect to the Seller or the Mortgage
      Loans, any untrue statement of a material fact or omits to state a
      material fact necessary in order to make the statements therein relating
      to the Seller or the Mortgage Loans, in the light of the circumstances
      under which they were made, not misleading.

            (c) The Offered Certificates shall have been concurrently issued and
sold pursuant to the terms of the Underwriting Agreement. The Private
Certificates shall have been concurrently issued and sold pursuant to the terms
of the Certificate Purchase Agreement.

            (d) The Seller shall have executed and delivered concurrently
herewith the Indemnification Agreement.

            (e) The Seller shall furnish the Purchaser with such other
certificates of its officers or others and such other documents and opinions to
evidence fulfillment of the conditions set forth in this Agreement as the
Purchaser and its counsel may reasonably request.

            SECTION 8. Closing. The closing for the purchase and sale of the
Mortgage Loans shall take place at the office of Cadwalader, Wickersham & Taft
LLP, New York, New York, at 10:00 a.m., on the Closing Date or such other place
and time as the parties shall agree. The parties hereto agree that time is of
the essence with respect to this Agreement.

            SECTION 9. Expenses. The Seller will pay its pro rata share (the
Seller's pro rata share to be determined according to the percentage that the
aggregate principal balance as of the Cut-off Date of all the Mortgage Loans
represents in proportion to the aggregate principal balance as of the Cut-off
Date of all the mortgage loans to be included in the Trust Fund) of all costs
and expenses of the Purchaser in connection with the transactions contemplated
herein, including (without duplication thereof), but not limited to: (i) the
costs and expenses of the Purchaser in connection with the purchase of the
Mortgage Loans and other mortgage loans; (ii) the costs and expenses of
reproducing and delivering the Pooling and Servicing Agreement and printing (or
otherwise reproducing) and delivering the Certificates; (iii) the reasonable and
documented fees, costs and expenses of the Trustee and its counsel incurred in
connection with the Trustee entering into the Pooling and Servicing Agreement;
(iv) the fees and disbursements of a firm of certified public accountants
selected by the Purchaser and the Seller with respect to numerical information
in respect of the Mortgage Loans, other mortgage loans and the Certificates
included in the Prospectus, the Memoranda (as defined in the Indemnification
Agreement) and any related 8-K Information (as defined in the Underwriting
Agreement), or items similar to the 8-K Information, including the cost of
obtaining any "comfort letters" with respect to such items; (v) the costs and
expenses in connection with the qualification or exemption of the Certificates
under state securities or blue sky laws, including filing fees and reasonable
fees and disbursements of counsel in connection therewith; (vi) the costs and
expenses in connection with any determination of the eligibility of the
Certificates for investment by institutional investors in any jurisdiction and
the preparation of any legal investment survey, including reasonable fees and
disbursements of counsel in connection therewith; (vii) the costs and expenses
in connection with printing (or otherwise reproducing) and delivering the
Registration Statement, Prospectus and Memoranda, and the reproduction and
delivery of this Agreement and the furnishing to the Underwriters of such copies
of the Registration Statement, Prospectus, Memoranda and this Agreement as the
Underwriters may reasonably request; (viii) the fees of the rating agency or
agencies requested to rate the Certificates and (ix) the reasonable fees and
expenses of Thacher Proffitt & Wood LLP, counsel to the Underwriters, and
Cadwalader, Wickersham & Taft LLP, counsel to the Depositor.

            SECTION 10. 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. Furthermore, the
parties shall in good faith endeavor to replace any provision held to be invalid
or unenforceable with a valid and enforceable provision which most closely
resembles, and which has the same economic effect as, the provision held to be
invalid or unenforceable.

            SECTION 11. Governing Law. This Agreement shall be construed in
accordance with the laws of the State of New York without regard to conflicts of
law principles and the obligations, rights and remedies of the parties hereunder
shall be determined in accordance with such laws.

            SECTION 12. No Third Party Beneficiaries. The parties do not intend
the benefits of this Agreement to inure to any third party except as expressly
set forth in Section 13.

            SECTION 13. Assignment. The Seller hereby acknowledges that the
Purchaser has, concurrently with the execution hereof, executed and delivered
the Pooling and Servicing Agreement and that, in connection therewith, it has
assigned its rights hereunder to the Trustee for the benefit of the
Certificateholders to the extent set forth in the Pooling and Servicing
Agreement and that the rights so assigned may be further assigned to, and shall
inure to the benefit of, any successor trustee under the Pooling and Servicing
Agreement. The Seller hereby acknowledges its obligations (subject to the
provisions hereof), including that of expense reimbursement, pursuant to
Sections 2.01, 2.02 and 2.03 of the Pooling and Servicing Agreement. Except as
set forth hereinabove and in Sections 2.01, 2.02 and 2.03 of the Pooling and
Servicing Agreement, the representations and warranties of the Seller made
hereunder and the remedies provided hereunder with respect to Breaches or
Defects may not be further assigned by the Purchaser, the Trustee or any
successor trustee. No owner of a Certificate issued pursuant to the Pooling and
Servicing Agreement shall be deemed a successor or permitted assign because of
such ownership. This Agreement shall bind and inure to the benefit of, and be
enforceable by, the Seller, the Purchaser and their permitted successors and
permitted assigns. The warranties and representations and the agreements made by
the Seller herein shall survive delivery of the Mortgage Loans to the Trustee
until the termination of the Pooling and Servicing Agreement.

            SECTION 14. Notices. All demands, notices and communications
hereunder shall be in writing and shall be deemed to have been duly given upon
receipt by the intended recipient if personally delivered at or couriered, sent
by facsimile transmission or mailed by first class or registered mail, postage
prepaid, to (i) in the case of the Purchaser, J.P. Morgan Chase Commercial
Mortgage Securities Corp., 270 Park Avenue, New York, New York 10017, Attention:
Dennis Schuh, fax number (212) 834-6593 with a copy to Bianca Russo, fax number
(212) 834-6593, (ii) in the case of the Seller, Eurohypo AG, New York Branch,
1114 Avenue of the Americas, 29th Floor, New York, New York 10036, Attention:
Daniel Vinson, fax number: (212) 479-5800 and (iii) in the case of any of the
preceding parties, such other address or fax number as may hereafter be
furnished to the other party in writing by such party.

            SECTION 15. Amendment. This Agreement may be amended only by a
written instrument which specifically refers to this Agreement and is executed
by the Purchaser and the Seller; provided, however, that unless such amendment
is to cure an ambiguity, mistake or inconsistency in this Agreement, no
amendment shall be permitted unless each Rating Agency has delivered a written
confirmation that such amendment will not result in a downgrade, withdrawal or
qualification of the then current ratings of the Certificates and the cost of
obtaining any Rating Agency confirmation shall be borne by the party requesting
such amendment. This Agreement shall not be deemed to be amended orally or by
virtue of any continuing custom or practice. No amendment to the Pooling and
Servicing Agreement which relates to defined terms contained therein or any
obligations of the Seller whatsoever shall be effective against the Seller
unless the Seller shall have agreed to such amendment in writing.

            SECTION 16. Counterparts. This Agreement may be executed in any
number of counterparts, and by the parties hereto in separate counterparts, each
of which when executed and delivered shall be deemed to be an original and all
of which taken together shall constitute one and the same instrument.

            SECTION 17. Exercise of Rights. No failure or delay on the part of
any party to exercise any right, power or privilege under this Agreement and no
course of dealing between the Seller and the Purchaser shall operate as a waiver
thereof, nor shall any single or partial exercise of any right, power or
privilege under this Agreement preclude any other or further exercise thereof or
the exercise of any other right, power or privilege. Except as set forth in
Section 6 herein, the rights and remedies herein expressly provided are
cumulative and not exclusive of any rights or remedies which any party would
otherwise have pursuant to law or equity. Except as set forth in Section 6
herein, no notice to or demand on any party in any case shall entitle such party
to any other or further notice or demand in similar or other circumstances, or
constitute a waiver of the right of either party to any other or further action
in any circumstances without notice or demand.

            SECTION 18. No Partnership. Nothing herein contained shall be deemed
or construed to create a partnership or joint venture between the parties
hereto. Nothing herein contained shall be deemed or construed as creating an
agency relationship between the Purchaser and the Seller and neither party shall
take any action which could reasonably lead a third party to assume that it has
the authority to bind the other party or make commitments on such party's
behalf.

            SECTION 19. Miscellaneous. This Agreement supersedes all prior
agreements and understandings relating to the subject matter hereof. Neither
this Agreement nor any term hereof may be changed, waived, discharged or
terminated orally, but only by an instrument in writing signed by the party
against whom enforcement of the change, waiver, discharge or termination is
sought.

                                   * * * * * *

<PAGE>

            IN WITNESS WHEREOF, the Purchaser and the Seller have caused their
names to be signed hereto by their respective officers thereunto duly authorized
as of the day and year first above written.

                                       J.P. MORGAN CHASE COMMERCIAL MORTGAGE
                                          SECURITIES CORP., as Purchaser

                                       By: /s/ Charles Y. Lee
                                          --------------------------------------
                                          Name: Charles Y. Lee
                                          Title: Vice President

                                       EUROHYPO AG, NEW YORK BRANCH, as Seller

                                       By: /s/ Daniel Vinson
                                          --------------------------------------
                                          Name: Daniel Vinson
                                          Title: Managing Director

                                       By: /s/ Nicholas Manolas
                                          --------------------------------------
                                          Name: Nicholas Manolas
                                          Title: Director

<PAGE>

                                    EXHIBIT A

                             MORTGAGE LOAN SCHEDULE

<TABLE>
<CAPTION>
  Loan #   Mortgagor Name                                                              Property Address
----------------------------------------------------------------------------------------------------------------------------------
<S>        <C>                                                                         <C>
    5      Burbank Mall Associates, LLC                                                201 East Magnolia Boulevard
    6      Tysons Galleria L.L.C.                                                      2001 International Drive
    29     JFK Investment Associates, L.P., I                                          1800-1880 John F. Kennedy Boulevard
    32     University Shoppes, LLC                                                     1601 SW 107th Avenue
    36     Central Harlem Plaza Commercial Unit, LLC                                   130 Malcolm X Boulevard
    44     Southland Terrace Shopping Center L.L.C.                                    3985 South Seventh Street Road
    50     VR Riverstone Limited Partnership                                           3450 River Park Drive
    56     I-85 Hospitality Group Limited Liability Company                            707 Route 46 East
    62     GDI Aventura Development, LLC                                               18665 Biscayne Boulevard
    63     Melbourne Associates VII, L.L.C. and Osbourne Associates VII, L.L.C.        Various
  63.01                                                                                7 West Landis Avenue
  63.02                                                                                1315 New Road
    68     Northland Mall LLC                                                          900 West Northland Avenue
    70     VF II - WBC, LLC                                                            4311 - 4315 Walney Road
    86     Guardian Fund II - Bowie Gateway LLC                                        4175 North Hanson Court
    88     RBRO LLC                                                                    1600 Route 70
    89     RTE 6 & 209, LLC                                                            Milford Landing Drive
    91     Wilmington on Drexel, LLC                                                   4901 South Drexel Boulevard
    94     Bayport One LLC                                                             8025 Black Horse Turnpike
    96     Lincoln General, LLC                                                        430 North Generals Boulevard
   112     Midland Plaza LLC                                                           3001 West Loop 250 North
   116     Chateau Vincennes Partners, LP                                              18541 Vincennes Street
   124     Lighthouse Whitehall Commons, LLC.                                          3 Maryland Circle
   133     Heritage Court Apartments, LLC                                              905-928 Heritage Court
   143     Augusta Shopping, LLC                                                       3234 Augusta Road
   144     Genesis 2006 Properties II, LLC                                             400-430 Gold Rock Road
   149     Am Tenn Properties LLC                                                      Various
  149.01                                                                               7546 Highway 70
  149.02                                                                               4970 Raleigh Lagrange Road

<CAPTION>
  Loan #   City                 State   Zip Code  County            Property Name                             Size      Measure
------------------------------------------------------------------------------------------------------------------------------------
<S>        <C>                  <C>     <C>       <C>               <C>                                       <C>       <C>
    5      Burbank              CA       91502    Los Angeles       Burbank Town Center                       826686    Square Feet
    6      McLean               VA       22102    Fairfax           Tysons Galleria                           309112    Square Feet
    29     Philadelphia         PA       19103    Philadelphia      1800-1880 John F. Kennedy Boulevard       475258    Square Feet
    32     Miami                FL       33165    Miami-Dade        University Center                         109151    Square Feet
    36     New York             NY       10026    New York          Malcolm X Boulevard                       116224    Square Feet
    44     Louisville           KY       40216    Jefferson         Southland Terrace Shopping Center         220234    Square Feet
    50     Fort Worth           TX       76116    Tarrant           Riverstone Apartments                       248        Units
    56     Parsippany           NJ       07054    Morris            Holiday Inn - Parsippany                    184        Rooms
    62     Aventura             FL       33180    Miami-Dade        Walgreens & Pier 1 Imports                 24495    Square Feet
    63     Various              NJ      Various   Various           Eckerd Portfolio                           28739    Square Feet
  63.01    Vineland             NJ       08360    Cumberland        Vineland                                   16000    Square Feet
  63.02    Northfield           NJ       08225    Atlantic          Northfield                                 12739    Square Feet
    68     Appleton             WI       54914    Outagamie         Northland Mall                            187912    Square Feet
    70     Chantilly            VA       20151    Fairfax           Walney Business Center                    114231    Square Feet
    86     Bowie                MD       20716    Prince George's   Bowie Gateway Medical Center               36548    Square Feet
    88     Lakewood             NJ       08701    Ocean             Best Western Leisure Inn                    104        Rooms
    89     Westfall Township    PA       18337    Pike              Milford Landing Shopping Center            43955    Square Feet
    91     Chicago              IL       60615    Cook              Wilmington on Drexel                        122        Units
    94     Pleasantville        NJ       08232    Atlantic          Bayport One                                73416    Square Feet
    96     Lincolnton           NC       28092    Lincoln           Lincoln Town Center                        82943    Square Feet
   112     Midland              TX       79705    Midland           Midland Plaza                              68955    Square Feet
   116     Northridge           CA       91324    Los Angeles       Vincennes Apartments                        50         Units
   124     Whitehall            PA       18052    Lehigh            3 Maryland Circle                           78         Units
   133     Crown Point          IN       46307    Lake              Heritage Court Apartments                   72         Units
   143     West Columbia        SC       29170    Lexington         Woodberry Plaza                            84110    Square Feet
   144     Rocky Mount          NC       27804    Nash              Beaver Pond Center                         43450    Square Feet
   149     Various              TN      Various   Shelby            Memphis Retail Portfolio                   46470    Square Feet
  149.01   Bartlett             TN       38133    Shelby            Appling Ridge                              15420    Square Feet
  149.02   Memphis              TN       38128    Shelby            Spa Plaza                                  31050    Square Feet
</TABLE>

<TABLE>
<CAPTION>
                           Net
                        Mortgage                                                Maturity/                        Monthly
            Interest    Interest      Original        Cutoff             Rem.      ARD       Amort.     Rem.      Debt     Servicing
  Loan #    Rate (%)      Rate        Balance        Balance     Term    Term      Date       Term     Amort.    Service    Fee Rate
------------------------------------------------------------------------------------------------------------------------------------
<S>         <C>         <C>         <C>            <C>            <C>     <C>   <C>            <C>       <C>      <C>       <C>
    5       6.16000     6.13940     182,300,000    182,300,000    120     117   06/11/16        0         0       948,804    0.02000
    6       5.68567     5.66507     173,500,000    173,500,000     60      60   09/11/11        0         0       833,471    0.02000
    29      6.43000     6.40940      44,000,000     44,000,000    120     119   08/11/16        0         0       239,041    0.02000
    32      6.56000     6.53940      25,500,000     25,500,000    120     116   05/11/16        0         0       141,336    0.02000
    36      6.14800     6.12740      23,000,000     23,000,000    120     120   09/11/16       360       360      140,093    0.02000
    44      6.08500     6.06440      16,000,000     15,987,034    120     119   08/11/16       360       359       96,804    0.02000
    50      6.07500     6.05440      13,250,000     13,250,000    120     120   09/11/16        0         0        68,010    0.02000
    56      6.09000     6.06940      10,500,000     10,500,000    120     117   06/11/16       360       360       63,562    0.02000
    62      6.35000     6.32940       9,500,000      9,500,000    120     120   09/11/16        0         0        50,969    0.02000
    63      6.20000     6.17940       9,450,000      9,431,655    120     119   08/11/16       240       239       68,798    0.02000
  63.01     6.20000     6.17940       5,694,683      5,683,628    120     119   08/11/16       240       239                 0.02000
  63.02     6.20000     6.17940       3,755,317      3,748,027    120     119   08/11/16       240       239                 0.02000
    68      6.05700     6.03640       8,550,000      8,550,000    120     120   09/11/16       360       360       51,575    0.02000
    70      6.16000     6.13940       8,410,000      8,410,000    120     119   08/11/16        0         0        43,771    0.02000
    86      6.10000     6.07940       6,300,000      6,300,000    120     120   09/11/16       360       360       38,178    0.02000
    88      6.32000     6.29940       6,200,000      6,200,000    120     117   06/11/16       324       324       39,935    0.02000
    89      6.09500     6.07440       6,100,000      6,100,000    120     118   07/11/16       360       360       36,946    0.02000
    91      6.24500     6.22440       6,000,000      6,000,000    120     118   07/11/16       360       360       36,924    0.02000
    94      6.16100     6.14040       5,700,000      5,700,000    120     120   09/11/16       360       360       34,767    0.02000
    96      6.31500     6.29440       5,600,000      5,600,000    120     118   07/11/16       360       360       34,717    0.02000
   112      6.14900     6.12840       4,950,000      4,950,000    120     120   09/11/16       360       360       30,154    0.02000
   116      6.50000     6.47940       4,800,000      4,800,000     60      59   08/11/11        0         0        26,361    0.02000
   124      6.00000     5.97940       4,440,000      4,440,000    120     120   09/11/16       360       360       26,620    0.02000
   133      6.17000     6.14940       3,680,000      3,680,000     84      82   07/11/13       360       360       22,467    0.02000
   143      6.30700     6.28640       3,150,000      3,150,000    120     118   07/11/16       360       360       19,512    0.02000
   144      6.18000     6.15940       3,040,000      3,040,000    120     120   09/11/16       360       360       18,580    0.02000
   149      6.49500     6.47440       2,820,000      2,817,957    120     119   08/11/16       360       359       17,815    0.02000
  149.01    6.49500     6.47440       1,500,000      1,498,913    120     119   08/11/16       360       359                 0.02000
  149.02    6.49500     6.47440       1,320,000      1,319,044    120     119   08/11/16       360       359                 0.02000

<CAPTION>

                                                                            Originator/
               Accrual      ARD    ARD Step         Title         Crossed      Loan
  Loan #         Type      (Y/N)    Up (%)          Type           Loan       Seller      Guarantor
------------------------------------------------------------------------------------------------------------------------------------
<S>           <C>          <C>     <C>        <C>                 <C>       <C>           <C>
    5         Actual/360    No                Fee and Leasehold                 EHY       Jaime Sohacheski
    6         Actual/360    No                Fee and Leasehold                 EHY       GGP/Homart, Inc.
    29        Actual/360    No                       Fee                        EHY       Alex Schwartz
    32        Actual/360    No                       Fee                        EHY       Jorge Ramos
    36        Actual/360    No                       Fee                        EHY       Jeffrey E. Levine and Stuart Suna
    44        Actual/360    No                       Fee                        EHY       Gabriel Jeidel
    50        Actual/360    No                       Fee                        EHY       Andrew Stewart and John Foresi
    56        Actual/360    No                       Fee                        EHY       Paul B. Reisman and Steven M. Reisman
    62        Actual/360    No                       Fee                        EHY       Simon Galante
    63        Actual/360    No                       Fee                        EHY       Henry Herskowitz and Jacqueline Herskowitz
  63.01                     No                       Fee                        EHY
  63.02                     No                       Fee                        EHY
    68        Actual/360    No                       Fee                        EHY       Ivor Braka
    70        Actual/360    No                       Fee                        EHY       VF II - WBC, LLC
    86        Actual/360    No                       Fee                        EHY       Guardian Realty Fund II Business Trust
    88        Actual/360    No                       Fee                        EHY       Paul B. Reisman and Steven M. Reisman
    89        Actual/360    No                       Fee                        EHY       Charles B. Miller
    91        Actual/360    No                       Fee                        EHY       Don S. Schein
    94        Actual/360    No                       Fee                        EHY       Ivor Braka
    96        Actual/360    No                       Fee                        EHY       Lamar Western L.P.
   112        Actual/360    No                       Fee                        EHY       Ivor Braka
   116        Actual/360    No                       Fee                        EHY       Henry Manoucheri
   124        Actual/360    No                       Fee                        EHY       Meyer Orbach
   133        Actual/360    No                       Fee                        EHY       Blago Kuzul and Zora Kozul
   143        Actual/360    No                       Fee                        EHY       Lamar Western L.P.
   144        Actual/360    No                       Fee                        EHY       Issac Seruya
   149        Actual/360    No                       Fee                        EHY       Aaron Muschel
  149.01                    No                       Fee                        EHY
  149.02                    No                       Fee                        EHY

<CAPTION>

                          Upfront      Upfront    Upfront                                Upfront                      Monthly
             Letter of     CapEx         Eng.      Envir.       Upfront     Upfront RE     Ins.      Upfront Other     Capex
  Loan #       Credit     Reserve      Reserve    Reserve   TI/LC Reserve  Tax Reserve   Reserve        Reserve       Reserve
--------------------------------------------------------------------------------------   -----------------------------------------
<S>             <C>      <C>          <C>           <C>      <C>            <C>          <C>         <C>              <C>
    5           Yes         0.00      84,093.75     0.00     3,878,633.71   488,238.78        0.00   10,000,000.00        0.00
    6            No         0.00           0.00     0.00         0.00             0.00        0.00            0.00        0.00
    29           No         0.00       8,487.00     0.00     1,000,000.00   452,807.90   24,506.00      235,766.67     7920.97
    32           No       1,575.00    18,750.00     0.00       25,000.00     91,545.00   35,942.00      187,185.00     1575.00
    36           No        766.00          0.00     0.00       4,087.00       9,918.04    4,473.54            0.00      766.00
    44           No       2,752.93         0.00     0.00      131,250.00    121,240.80   57,723.00       96,804.20     2752.93
    50           No      265,758.34   13,375.00     0.00         0.00       384,746.22   25,966.20            0.00     4133.34
    56           No         0.00           0.00     0.00         0.00        71,202.00   65,889.72            0.00    19670.03
    62           No        306.19      9,375.00     0.00      101,530.94          0.00    2,751.68            0.00      306.19
    63           No        428.37          0.00     0.00        783.89            0.00      148.00            0.00      428.37
  63.01          No
  63.02          No
    68           No       2,662.00    32,000.00     0.00      129,166.67    120,316.50   21,258.30            0.00     2662.00
    70           No         0.00           0.00     0.00       60,000.00     35,298.80      958.83      290,000.00        0.00
    86           No        456.85     12,172.00     0.00         0.00        30,781.00    4,698.96       60,000.00      456.85
    88       250,000.0      0.00       8,050.00     0.00         0.00        29,822.25   20,866.50            0.00     9465.08
    89           No         0.00           0.00     0.00       50,000.00     33,825.33    4,694.16      400,000.00      552.80
    91           No       2,542.00         0.00     0.00         0.00        33,231.48   13,771.02      450,000.00     2542.00
    94           No       1,346.00         0.00     0.00      314,166.67     15,285.66   18,588.78            0.00     1346.00
    96       100,000.0      0.00      13,500.00     0.00         0.00        37,188.06   13,966.00            0.00     1521.00
   112           No       1,609.00     1,875.00     0.00      102,917.00     70,109.82   11,054.82        4,416.67     1609.00
   116           No         0.00           0.00     0.00         0.00        23,152.00    8,928.00      116,400.00     1042.00
   124           No       1,625.00         0.00     0.00         0.00        24,379.80    3,840.00            0.00     1625.00
   133           No         0.00      70,000.00     0.00         0.00        41,839.00   17,549.00       18,922.00     1614.00
   143      1,190,300.0     0.00      19,063.00     0.00         0.00        25,891.02    9,682.00            0.00     1593.00
   144           No        543.14          0.00     0.00        724.18        4,862.34      462.00            0.00      543.14
   149           No         0.00           0.00     0.00       50,000.00     24,342.06    2,225.00            0.00      587.00
  149.01         No
  149.02         No

<CAPTION>

            Monthly    Monthly     Monthly     Monthly     Monthly                                                    Interest
             Envir.     TI/LC       RE Tax       Ins.       Other    Grace    Lockbox     Property      Defeasance    Accrual
  Loan #    Reserve    Reserve     Reserve     Reserve     Reserve   Period   In-place      Type        Permitted     Period
------------------------------------------------------------------------------------------------------------------------------------
<S>            <C>     <C>         <C>         <C>        <C>          <C>     <C>       <C>               <C>       <C>
    5          0.00        0.00        0.00        0.00       0.00     0       Yes         Retail          Yes       Actual/360
    6          0.00        0.00        0.00        0.00       0.00     0       Yes         Retail          Yes       Actual/360
    29         0.00    50000.00    90561.58    12253.00       0.00     0       Yes         Office          Yes       Actual/360
    32         0.00        0.00    30515.00    17971.00   25000.00     0       Yes         Retail          Yes       Actual/360
    36         0.00     4087.00     2479.51     4473.54       0.00     0       No          Retail          No        Actual/360
    44         0.00     6250.00    12124.08    14430.75       0.00     0       No          Retail          Yes       Actual/360
    50         0.00        0.00    42749.58     8182.77       0.00     0       No        Multifamily       Yes       Actual/360
    56         0.00        0.00    23734.00     7321.08       0.00     0       No           Hotel          Yes       Actual/360
    62         0.00     1530.94        0.00     1375.84       0.00     0       No          Retail          Yes       Actual/360
    63         0.00      783.89        0.00       74.00       0.00     0       No          Retail          Yes       Actual/360
  63.01                                                                0                   Retail
  63.02                                                                0                   Retail
    68         0.00     4166.67    13368.50     2125.83       0.00     0       Yes         Retail          Yes       Actual/360
    70         0.00        0.00     8824.70      958.83       0.00     0       No        Industrial        Yes       Actual/360
    86         0.00        0.00     7695.25      391.58       0.00     0       Yes         Office          Yes       Actual/360
    88         0.00        0.00     9940.75     2318.50       0.00     0       No           Hotel          Yes       Actual/360
    89         0.00      916.67     2808.25      782.36       0.00     0       No          Retail          Yes       Actual/360
    91         0.00        0.00     5553.58     2295.17       0.00     0       No        Multifamily       Yes       Actual/360
    94         0.00     4166.67     7642.83     2065.42       0.00     0       Yes         Office          Yes       Actual/360
    96         0.00     6666.67     5312.56     1745.75       0.00     0       No          Retail          Yes       Actual/360
   112         0.00     2917.00     7010.98     1228.25    4416.67     0       Yes         Retail          Yes       Actual/360
   116         0.00        0.00     5788.00     1488.00    5000.00     0       No        Multifamily       Yes       Actual/360
   124         0.00        0.00     4875.96     1920.00       0.00     0       No        Multifamily       No        Actual/360
   133         0.00        0.00     5977.00     2507.00       0.00     0       No        Multifamily       Yes       Actual/360
   143         0.00     2166.67     4315.17     1210.25       0.00     0       No          Retail          Yes       Actual/360
   144         0.00      724.18     1620.78      462.00       0.00     0       Yes         Retail          Yes       Actual/360
   149         0.00     1666.67     5338.75     1112.50       0.00     0       No          Retail          Yes       Actual/360
  149.01                                                               0                   Retail
  149.02                                                               0                   Retail

<CAPTION>

                     Final          Remaining
            Loan     Maturity    Amortization Term
  Loan #    Group    Date        for Balloon Loans
---------------------------------------------------
<S>           <C>    <C>               <C>
    5         1
    6         1
    29        1
    32        1
    36        1                        360
    44        1                        360
    50        2
    56        1                        360
    62        1
    63        1                        240
  63.01       1                        240
  63.02       1                        240
    68        1                        360
    70        1
    86        1                        360
    88        1                        324
    89        1                        360
    91        2                        360
    94        1                        360
    96        1                        360
   112        1                        360
   116        1
   124        2                        360
   133        2                        360
   143        1                        360
   144        1                        360
   149        1                        360
  149.01      1                        360
  149.02      1                        360
</TABLE>

<PAGE>

                                    EXHIBIT B

                 MORTGAGE LOAN REPRESENTATIONS AND WARRANTIES

            (1) No Mortgage Loan is 30 days or more delinquent in payment of
principal and interest (without giving effect to any applicable grace period in
the related Mortgage Note) and no Mortgage Loan has been 30 days or more
(without giving effect to any applicable grace period in the related Mortgage
Note) past due.

            (2) Except with respect to the ARD Loans, which provide that the
rate at which interest accrues thereon increases after the Anticipated Repayment
Date, the Mortgage Loans (exclusive of any default interest, late charges or
prepayment premiums) are fixed rate mortgage loans with terms to maturity, at
origination or as of the most recent modification, as set forth in the Mortgage
Loan Schedule.

            (3) The information pertaining to each Mortgage Loan set forth on
the Mortgage Loan Schedule is true and correct in all material respects as of
the Cut-off Date.

            (4) At the time of the assignment of the Mortgage Loans to the
Purchaser, the Seller had good and marketable title to and was the sole owner
and holder of, each Mortgage Loan, free and clear of any pledge, lien,
encumbrance or security interest (subject to certain agreements regarding
servicing as provided in the Pooling and Servicing Agreement, subservicing
agreements permitted thereunder and that certain Servicing Rights Purchase
Agreement, dated as of the Closing Date between the applicable Master Servicer
and Seller) and such assignment validly and effectively transfers and conveys
all legal and beneficial ownership of the Mortgage Loans to the Purchaser free
and clear of any pledge, lien, encumbrance or security interest (subject to
certain agreements regarding servicing as provided in the Pooling and Servicing
Agreement, subservicing agreements permitted thereunder and that certain
Servicing Rights Purchase Agreement, dated as of the Closing Date between the
applicable Master Servicer and Seller).

            (5) In respect of each Mortgage Loan, (A) in reliance on public
documents or certified copies of the incorporation or partnership or other
entity documents, as applicable, delivered in connection with the origination of
such Mortgage Loan, the related Mortgagor is an entity organized under the laws
of a state of the United States of America, the District of Columbia or the
Commonwealth of Puerto Rico and (B) as of the origination date, the Seller
(based on customary due diligence) had no knowledge, and since the origination
date, the Seller has no actual knowledge, that the related Mortgagor is a debtor
in any bankruptcy, receivership, conservatorship, reorganization, insolvency,
moratorium or similar proceeding.

            (6) Each Mortgage Loan is secured by the related Mortgage which
establishes and creates a valid and subsisting first priority lien on the
related Mortgaged Property, or leasehold interest therein, comprising real
estate, free and clear of any liens, claims, encumbrances, participation
interests, pledges, charges or security interests subject only to Permitted
Encumbrances. Such Mortgage, together with any separate security agreement, UCC
Financing Statement or similar agreement, if any, establishes and creates a
first priority security interest in favor of the Seller in all personal property
owned by the Mortgagor that is used in, and is reasonably necessary to, the
operation of the related Mortgaged Property and, to the extent a security
interest may be created therein and perfected by the filing of a UCC Financing
Statement under the Uniform Commercial Code as in effect in the relevant
jurisdiction, the proceeds arising from the Mortgaged Property and other
collateral securing such Mortgage Loan, subject only to Permitted Encumbrances.
There exists with respect to such Mortgaged Property an assignment of leases and
rents provision, either as part of the related Mortgage or as a separate
document or instrument, which establishes and creates a first priority security
interest in and to leases and rents arising in respect of the related Mortgaged
Property, subject only to Permitted Encumbrances. Except for the holder of the
Companion Loan with respect to the AB Mortgage Loans, to the Seller's knowledge,
no person other than the related Mortgagor and the mortgagee own any interest in
any payments due under the related leases. The related Mortgage or such
assignment of leases and rents provision provides for the appointment of a
receiver for rents or allows the holder of the related Mortgage to enter into
possession of the related Mortgaged Property to collect rent or provides for
rents to be paid directly to the holder of the related Mortgage in the event of
a default beyond applicable notice and grace periods, if any, under the related
Mortgage Loan documents. As of the origination date, there were, and, to the
Seller's actual knowledge as of the Closing Date, there are, no mechanics' or
other similar liens or claims which have been filed for work, labor or materials
affecting the related Mortgaged Property which are or may be prior or equal to
the lien of the Mortgage, except those that are bonded or escrowed for or which
are insured against pursuant to the applicable Title Insurance Policy (as
defined below) and except for Permitted Encumbrances. No (a) Mortgaged Property
secures any mortgage loan not represented on the Mortgage Loan Schedule other
than a Companion Loan, (b) Mortgage Loan is cross-collateralized or
cross-defaulted with any other mortgage loan, other than a Mortgage Loan listed
on the Mortgage Loan Schedule or a Companion Loan, or (c) Mortgage Loan is
secured by property that is not a Mortgaged Property. Notwithstanding the
foregoing, no representation is made as to the perfection of any security
interest in rent, operating revenues or other personal property to the extent
that possession or control of such items or actions other than the recordation
of the Mortgage or the Assignment of Leases and Rents or the filing of UCC
Financing Statements are required in order to effect such perfection.

            (7) The related Mortgagor under each Mortgage Loan has good and
indefeasible fee simple or, with respect to those Mortgage Loans described in
clause (20) hereof, leasehold title to the related Mortgaged Property comprising
real estate subject to any Permitted Encumbrances.

            (8) The Seller has received an American Land Title Association
(ALTA) lender's title insurance policy or a comparable form of lender's title
insurance policy (or escrow instructions binding on the Title Insurer (as
defined below) and irrevocably obligating the Title Insurer to issue such title
insurance policy or a title policy commitment or pro-forma "marked up" at the
closing of the related Mortgage Loan and countersigned or otherwise approved by
the Title Insurer or its authorized agent) as adopted in the applicable
jurisdiction (the "Title Insurance Policy"), which was issued by a nationally
recognized title insurance company (the "Title Insurer") qualified to do
business in the jurisdiction where the applicable Mortgaged Property is located
(unless such jurisdiction is the State of Iowa), covering the portion of each
Mortgaged Property comprised of real estate and insuring that the related
Mortgage is a valid first lien in the original principal amount of the related
Mortgage Loan on the Mortgagor's fee simple interest (or, if applicable,
leasehold interest) in such Mortgaged Property comprised of real estate, subject
only to Permitted Encumbrances. Such Title Insurance Policy was issued in
connection with the origination of the related Mortgage Loan. No claims have
been made under such Title Insurance Policy. Such Title Insurance Policy is in
full force and effect and all premiums thereon have been paid and will provide
that the insured includes the owner of the Mortgage Loan and its successors
and/or assigns. No holder of the related Mortgage has done, by act or omission,
anything that would, and the Seller has no actual knowledge of any other
circumstance that would, impair the coverage under such Title Insurance Policy.

            (9) The related Assignment of Mortgage and the related assignment of
the Assignment of Leases and Rents executed in connection with each Mortgage, if
any, have been recorded in the applicable jurisdiction (or, if not recorded,
have been submitted for recording or are in recordable form (but for the
insertion of the name and address of the assignee and any related recording
information which is not yet available to the Seller)) and constitute the legal,
valid and binding assignment of such Mortgage and the related Assignment of
Leases and Rents from the Seller to the Purchaser. The endorsement of the
related Mortgage Note by the Seller constitutes the legal, valid, binding and
enforceable (except as such enforcement may be limited by anti-deficiency laws
or bankruptcy, receivership, conservatorship, reorganization, insolvency,
moratorium or other similar laws affecting the enforcement of creditors' rights
generally, and by general principles of equity (regardless of whether such
enforcement is considered in a proceeding in equity or at law)) assignment of
such Mortgage Note, and together with such Assignment of Mortgage and the
related assignment of Assignment of Leases and Rents, legally and validly
conveys all right, title and interest in such Mortgage Loan and Mortgage Loan
documents to the Purchaser.

            (10) (a) The Mortgage Loan documents for each Mortgage Loan provide
that such Mortgage Loan is non-recourse to the related parties thereto except
that the related Mortgagor and at least one individual or entity shall be fully
liable for actual losses, liabilities, costs and damages arising from certain
acts of the related Mortgagor and/or its principals specified in the related
Mortgage Loan documents, which acts generally include the following: (i) fraud
or intentional material misrepresentation, (ii) misapplication or
misappropriation of rents, insurance proceeds or condemnation awards, (iii)
either (x) any act of actual waste by or (y) damage or destruction to the
Mortgaged Property caused by the acts or omissions of the borrower, its agents,
employees or contractors, and (iv) any breach of the environmental covenants
contained in the related Mortgage Loan documents.

            (b) The Mortgage Loan documents for each Mortgage Loan contain
      enforceable provisions such as to render the rights and remedies of the
      holder thereof adequate for the practical realization against the
      Mortgaged Property of the principal benefits of the security intended to
      be provided thereby, including realization by judicial or, if applicable,
      non judicial foreclosure, and there is no exemption available to the
      related Mortgagor which would interfere with such right of foreclosure
      except any statutory right of redemption or as may be limited by
      anti-deficiency or one form of action laws or by bankruptcy, receivership,
      conservatorship, reorganization, insolvency, moratorium or other similar
      laws affecting the enforcement of creditors' rights generally, and by
      general principles of equity (regardless of whether such enforcement is
      considered in a proceeding in equity or at law).

            (c) Each of the related Mortgage Notes and Mortgages are the legal,
      valid and binding obligations of the related Mortgagor named on the
      Mortgage Loan Schedule and each of the other related Mortgage Loan
      documents is the legal, valid and binding obligation of the parties
      thereto (subject to any non recourse provisions therein), enforceable in
      accordance with its terms, except as such enforcement may be limited by
      anti-deficiency or one form of action laws or bankruptcy, receivership,
      conservatorship, reorganization, insolvency, moratorium or other similar
      laws affecting the enforcement of creditors' rights generally, and by
      general principles of equity (regardless of whether such enforcement is
      considered in a proceeding in equity or at law), and except that certain
      provisions of such Mortgage Loan documents are or may be unenforceable in
      whole or in part under applicable state or federal laws, but the inclusion
      of such provisions does not render any of the Mortgage Loan documents
      invalid as a whole, and such Mortgage Loan documents taken as a whole are
      enforceable to the extent necessary and customary for the practical
      realization of the principal rights and benefits afforded thereby.

            (d) The terms of the Mortgage Loans or the related Mortgage Loan
      documents, have not been altered, impaired, modified or waived in any
      material respect, except prior to the Cut-off Date by written instrument
      duly submitted for recordation, to the extent required, and as
      specifically set forth in the related Mortgage File.

            (e) With respect to each Mortgage which is a deed of trust, a
      trustee, duly qualified under applicable law to serve as such, currently
      so serves and is named in the deed of trust or may be substituted in
      accordance with applicable law, and no fees or expenses are or will become
      payable to the trustee under the deed of trust, except in connection with
      a trustee's sale after default by the Mortgagor and de minimis fees paid
      in connection with the release of the related Mortgaged Property or
      related security for such Mortgage Loan following payment of such Mortgage
      Loan in full.

            (11) Except by a written instrument that has been delivered to the
Purchaser as a part of the related Mortgage File with respect to any immaterial
releases of the Mortgaged Property, no Mortgage Loan has been satisfied,
canceled, subordinated, released or rescinded, in whole or in part, and the
related Mortgagor has not been released, in whole or in part, from its
obligations under any related Mortgage Loan document.

            (12) Except with respect to the enforceability of any provisions
requiring the payment of default interest, late fees, additional interest,
prepayment premiums or yield maintenance charges, neither the Mortgage Loan nor
any of the related Mortgage Loan documents is subject to any right of
rescission, set off, abatement, diminution, valid counterclaim or defense,
including the defense of usury, nor will the operation of any of the terms of
any such Mortgage Loan documents, or the exercise (in compliance with procedures
permitted under applicable law) of any right thereunder, render any Mortgage
Loan documents subject to any right of rescission, set off, abatement,
diminution, valid counterclaim or defense, including the defense of usury
(subject to anti-deficiency or one form of action laws and to bankruptcy,
receivership, conservatorship, reorganization, insolvency, moratorium or other
similar laws affecting the enforcement of creditor's rights generally and to
general principles of equity (regardless of whether such enforcement is
considered in a proceeding in equity or at law)), and no such right of
rescission, set off, abatement, diminution, valid counterclaim or defense has
been asserted with respect thereto. None of the Mortgage Loan documents provides
for a release of a portion of the Mortgaged Property from the lien of the
Mortgage except upon payment or defeasance in full of all obligations under the
Mortgage, provided that, notwithstanding the foregoing, certain of the Mortgage
Loans may allow partial release (a) upon payment or defeasance of an Allocated
Loan Amount which may be formula based, but in no event less than 125% of the
Allocated Loan Amount, or (b) in the event the portion of the Mortgaged Property
being released was not given any material value in connection with the
underwriting or appraisal of the related Mortgage Loan.

            (13) As of the Closing Date, there is no payment default, after
giving effect to any applicable notice and/or grace period, and, to the Seller's
knowledge, as of the Closing Date, there is no other material default under any
of the related Mortgage Loan documents, after giving effect to any applicable
notice and/or grace period; no such material default or breach has been waived
by the Seller or on its behalf or, to the Seller's knowledge, by the Seller's
predecessors in interest with respect to the Mortgage Loans; and, to the
Seller's actual knowledge, no event has occurred which, with the passing of time
or giving of notice would constitute a material default or breach; provided,
however, that the representations and warranties set forth in this sentence do
not cover any default, breach, violation or event of acceleration that
specifically pertains to or arises out of any subject matter otherwise covered
by any other representation or warranty made by the Seller in this Exhibit B. No
Mortgage Loan has been accelerated and no foreclosure proceeding or power of
sale proceeding has been initiated under the terms of the related Mortgage Loan
documents. The Seller has not waived any material claims against the related
Mortgagor under any non-recourse exceptions contained in the Mortgage Note.

            (14) (a) The principal amount of the Mortgage Loan stated on the
Mortgage Loan Schedule has been fully disbursed as of the Closing Date (except
for certain amounts that were fully disbursed by the mortgagee, but were
escrowed pursuant to the terms of the related Mortgage Loan documents) and there
are no future advances required to be made by the mortgagee under any of the
related Mortgage Loan documents. Any requirements under the related Mortgage
Loan documents regarding the completion of any on-site or off-site improvements
and to disbursements of any escrow funds therefor have been or are being
complied with or such escrow funds are still being held. The value of the
Mortgaged Property relative to the value reflected in the most recent appraisal
thereof is not materially impaired by any improvements which have not been
completed. The Seller has not, nor, to the Seller's knowledge, have any of its
agents or predecessors in interest with respect to the Mortgage Loan, in respect
of payments due on the related Mortgage Note or Mortgage, directly or
indirectly, advanced funds or induced, solicited or knowingly received any
advance of funds by a party other than the Mortgagor other than (a) interest
accruing on such Mortgage Loan from the date of such disbursement of such
Mortgage Loan to the date which preceded by thirty (30) days the first payment
date under the related Mortgage Note and (b) application and commitment fees,
escrow funds, points and reimbursements for fees and expenses, incurred in
connection with the origination and funding of the Mortgage Loan.

            (b) No Mortgage Loan has capitalized interest included in its
      principal balance, or provides for any shared appreciation rights or other
      equity participation therein and no contingent or additional interest
      contingent on cash flow or negative amortization (other than with respect
      to the deferment of payment with respect to ARD Loans) is due thereon.

            (c) Each Mortgage Loan identified in the Mortgage Loan Schedule as
      an ARD Loan starts to amortize no later than the Due Date of the calendar
      month immediately after the calendar month in which such ARD Loan closed
      and substantially fully amortizes over its stated term, which term is at
      least 60 months after the related Anticipated Repayment Date. Each ARD
      Loan has an Anticipated Repayment Date not less than seven years following
      the origination of such Mortgage Loan. If the related Mortgagor elects not
      to prepay its ARD Loan in full on or prior to the Anticipated Repayment
      Date pursuant to the existing terms of the Mortgage Loan or a unilateral
      option (as defined in Treasury Regulations under Section 1001 of the Code)
      in the Mortgage Loan exercisable during the term of the Mortgage Loan, (i)
      the Mortgage Loan's interest rate will step up to an interest rate per
      annum as specified in the related Mortgage Loan documents; provided,
      however, that payment of such Excess Interest shall be deferred until the
      principal of such ARD Loan has been paid in full; (ii) all or a
      substantial portion of the Excess Cash Flow (which is net of certain costs
      associated with owning, managing and operating the related Mortgaged
      Property) collected after the Anticipated Repayment Date shall be applied
      towards the prepayment of such ARD Loan and once the principal balance of
      an ARD Loan has been reduced to zero all Excess Cash Flow will be applied
      to the payment of accrued Excess Interest; and (iii) if the property
      manager for the related Mortgaged Property can be removed by or at the
      direction of the mortgagee on the basis of a debt service coverage test,
      the subject debt service coverage ratio shall be calculated without taking
      account of any increase in the related Mortgage Interest Rate on such
      Mortgage Loan's Anticipated Repayment Date. No ARD Loan provides that the
      property manager for the related Mortgaged Property can be removed by or
      at the direction of the mortgagee solely because of the passage of the
      related Anticipated Repayment Date.

            (d) Each Mortgage Loan identified in the Mortgage Loan Schedule as
      an ARD Loan with a hard lockbox requires that tenants at the related
      Mortgaged Property shall (and each Mortgage Loan identified in the
      Mortgage Loan Schedule as an ARD Loan with a springing lockbox requires
      that tenants at the related Mortgaged Property shall, upon the occurrence
      of a specified trigger event, including, but not limited to, the
      occurrence of the related Anticipated Repayment Date) make rent payments
      into a lockbox controlled by the holder of the Mortgage Loan and to which
      the holder of the Mortgage Loan has a first perfected security interest;
      provided, however, with respect to each ARD Loan which is secured by a
      multi-family property with a hard lockbox, or with respect to each ARD
      Loan which is secured by a multi-family property with a springing lockbox,
      upon the occurrence of a specified trigger event, including, but not
      limited to, the occurrence of the related Anticipated Repayment Date,
      tenants either pay rents to a lockbox controlled by the holder of the
      Mortgage Loan or deposit rents with the property manager who will then
      deposit the rents into a lockbox controlled by the holder of the Mortgage
      Loan.

            (15) The terms of the Mortgage Loan documents evidencing such
Mortgage Loan comply in all material respects with all applicable local, state
and federal laws and regulations, and the Seller has complied with all material
requirements pertaining to the origination of the Mortgage Loans, including but
not limited to, usury and any and all other material requirements of any
federal, state or local law to the extent non-compliance would have a material
adverse effect on the Mortgage Loan.

            (16) To the Seller's knowledge and subject to clause (37) hereof, as
of the date of origination of the Mortgage Loan, based on inquiry customary in
the industry, the related Mortgaged Property was, and to the Seller's actual
knowledge and subject to clause (37) hereof, as of the Closing Date, the related
Mortgaged Property is, in all material respects, in compliance with, and is used
and occupied in accordance with, all restrictive covenants of record applicable
to such Mortgaged Property and applicable zoning laws and all inspections,
licenses, permits and certificates of occupancy required by law, ordinance or
regulation to be made or issued with regard to the Mortgaged Property have been
obtained and are in full force and effect, except to the extent (a) any material
non-compliance with applicable zoning laws is insured by an ALTA lender's title
insurance policy (or binding commitment therefor), or the equivalent as adopted
in the applicable jurisdiction, or a law and ordinance insurance policy, or (b)
the failure to obtain or maintain such inspections, licenses, permits or
certificates of occupancy does not materially impair or materially and adversely
affect the use and/or operation of the Mortgaged Property as it was used and
operated as of the date of origination of the Mortgage Loan or the rights of a
holder of the related Mortgage Loan.

            (17) All (a) taxes, water charges, sewer rents, assessments or other
similar outstanding governmental charges and governmental assessments which
became due and owing prior to the Closing Date in respect of the related
Mortgaged Property (excluding any related personal property), and if left
unpaid, would be, or might become, a lien on such Mortgaged Property having
priority over the related Mortgage and (b) insurance premiums or ground rents
which became due and owing prior to the Closing Date in respect of the related
Mortgaged Property (excluding any related personal property), have been paid, or
if disputed, or if such amounts are not delinquent prior to the Closing Date, an
escrow of funds in an amount sufficient (together with escrow payments required
to be made prior to delinquency) to cover such taxes and assessments and any
late charges due in connection therewith has been established. As of the date of
origination, the related Mortgaged Property was one or more separate and
complete tax parcels. For purposes of this representation and warranty, the
items identified herein shall not be considered due and owing until the date on
which interest or penalties would be first payable thereon.

            (18) To the Seller's knowledge based on surveys or the Title
Insurance Policy, (i) none of the material improvements that were included for
the purpose of determining the appraised value of the related Mortgaged Property
at the time of the origination of such Mortgage Loan lies outside the boundaries
and building restriction lines of such Mortgaged Property, except to the extent
they are legally nonconforming as contemplated by representation (37) below, and
(ii) no improvements on adjoining properties encroach upon such Mortgaged
Property, except in the case of either (i) or (ii) for (a) immaterial
encroachments which do not materially adversely affect the security intended to
be provided by the related Mortgage or the use, enjoyment, value or
marketability of such Mortgaged Property or (b) encroachments affirmatively
covered by the related Title Insurance Policy. With respect to each Mortgage
Loan, the property legally described in the survey, if any, obtained for the
related Mortgaged Property for purposes of the origination thereof is the same
as the property legally described in the Mortgage.

            (19) (a) As of the date of the applicable engineering report (which
was performed within 12 months prior to the Cut-off Date) related to the
Mortgaged Property and, to Seller's knowledge as of the Closing Date, the
related Mortgaged Property is either (i) in good repair, free and clear of any
damage that would materially adversely affect the value of such Mortgaged
Property as security for such Mortgage Loan or the use and operation of the
Mortgaged Property as it was being used or operated as of the origination date
or (ii) escrows in an amount consistent with the standard utilized by the Seller
with respect to similar loans it holds for its own account have been
established, which escrows will in all events be not less than 100% of the
estimated cost of the required repairs. Since the origination date, to the
Seller's actual knowledge, such Mortgaged Property has not been damaged by fire,
wind or other casualty or physical condition that would materially and adversely
affect its value as security for the related Mortgage Loan (including, without
limitation, any soil erosion or subsidence or geological condition), which
damage has not been fully repaired or fully insured, or for which escrows in an
amount consistent with the standard utilized by the Seller with respect to loans
it holds for its own account have not been established.

            (b) As of the origination date of such Mortgage Loan and to the
      Seller's actual knowledge, as of the Closing Date, there are no
      proceedings pending or, to the Seller's actual knowledge, threatened, for
      the partial or total condemnation of the relevant Mortgaged Property.

            (20) The Mortgage Loans that are identified on Exhibit A as being
secured in whole or in part by a leasehold estate (a "Ground Lease") (except
with respect to any Mortgage Loan also secured by the related fee interest in
the Mortgaged Property) satisfy the following conditions:

            (a) such Ground Lease or a memorandum thereof has been or will be
      duly recorded; such Ground Lease or other agreement received by the
      originator of the Mortgage Loan from the ground lessor, provides that the
      interest of the lessee thereunder may be encumbered by the related
      Mortgage and does not restrict the use of the related Mortgaged Property
      by such lessee, its successors or assigns, in a manner that would
      materially and adversely affect the security provided by the Mortgage; as
      of the date of origination of the Mortgage Loan, there was no material
      change of record in the terms of such Ground Lease with the exception of
      written instruments which are part of the related Mortgage File and Seller
      has no knowledge of any material change in the terms of such Ground Lease
      since the recordation of the related Mortgage, with the exception of
      written instruments which are part of the related Mortgage File;

            (b) such Ground Lease or such other agreement received by the
      originator of the Mortgage Loan from the ground lessor is not subject to
      any liens or encumbrances superior to, or of equal priority with, the
      related Mortgage, other than the related fee interest and Permitted
      Encumbrances and such Ground Lease or such other agreement received by the
      originator of the Mortgage Loan from the ground lessor is, and shall
      remain, prior to any mortgage or other lien upon the related fee interest
      (other than the Permitted Encumbrances) unless a nondisturbance agreement
      is obtained from the holder of any mortgage on the fee interest which is
      assignable to or for the benefit of the related lessee and the related
      mortgagee;

            (c) such Ground Lease or other agreement provides that upon
      foreclosure of the related Mortgage or assignment of the Mortgagor's
      interest in such Ground Lease in lieu thereof, the mortgagee under such
      Mortgage is entitled to become the owner of such interest upon notice to,
      but without the consent of, the lessor thereunder and, in the event that
      such mortgagee (or any of its successors and assigns under the Mortgage)
      becomes the owner of such interest, such interest is further assignable by
      such mortgagee (or any of its successors and assigns under the Mortgage)
      upon notice to such lessor, but without a need to obtain the consent of
      such lessor;

            (d) such Ground Lease is in full force and effect and no default of
      tenant or ground lessor was in existence at origination, or to the
      Seller's knowledge, is in existence as of the Closing Date, under such
      Ground Lease, nor at origination was, or to the Seller's knowledge, is
      there any condition which, but for the passage of time or the giving of
      notice, would result in a default under the terms of such Ground Lease;
      either such Ground Lease or a separate agreement contains the ground
      lessor's covenant that it shall not amend, modify, cancel or terminate
      such Ground Lease without the prior written consent of the mortgagee under
      such Mortgage and any amendment, modification, cancellation or termination
      of the Ground Lease without the prior written consent of the related
      mortgagee, or its successors or assigns is not binding on such mortgagee,
      or its successor or assigns;

            (e) such Ground Lease or other agreement requires the lessor
      thereunder to give written notice of any material default by the lessee to
      the mortgagee under the related Mortgage, provided that such mortgagee has
      provided the lessor with notice of its lien in accordance with the
      provisions of such Ground Lease; and such Ground Lease or other agreement
      provides that no such notice of default and no termination of the Ground
      Lease in connection with such notice of default shall be effective against
      such mortgagee unless such notice of default has been given to such
      mortgagee and any related Ground Lease or other agreement contains the
      ground lessor's covenant that it will give to the related mortgagee, or
      its successors or assigns, any notices it sends to the Mortgagor;

            (f) either (i) the related ground lessor has subordinated its
      interest in the related Mortgaged Property to the interest of the holder
      of the Mortgage Loan or (ii) such Ground Lease or other agreement provides
      that (A) the mortgagee under the related Mortgage is permitted a
      reasonable opportunity to cure any default under such Ground Lease which
      is curable, including reasonable time to gain possession of the interest
      of the lessee under the Ground Lease, after the receipt of notice of any
      such default before the lessor thereunder may terminate such Ground Lease;
      (B) in the case of any such default which is not curable by such
      mortgagee, or in the event of the bankruptcy or insolvency of the lessee
      under such Ground Lease, such mortgagee has the right, following
      termination of the existing Ground Lease or rejection thereof by a
      bankruptcy trustee or similar party, to enter into a new ground lease with
      the lessor on substantially the same terms as the existing Ground Lease;
      and (C) all rights of the Mortgagor under such Ground Lease (insofar as it
      relates to the Ground Lease) may be exercised by or on behalf of such
      mortgagee under the related Mortgage upon foreclosure or assignment in
      lieu of foreclosure;

            (g) such Ground Lease has an original term (or an original term plus
      one or more optional renewal terms that under all circumstances may be
      exercised, and will be enforceable, by the mortgagee or its assignee)
      which extends not less than 20 years beyond the stated maturity date of
      the related Mortgage Loan;

            (h) under the terms of such Ground Lease and the related Mortgage,
      taken together, any related insurance proceeds will be applied either to
      the repair or restoration of all or part of the related Mortgaged
      Property, with the mortgagee under such Mortgage or a financially
      responsible institution acting as trustee appointed by it, or consented to
      by it, or by the lessor having the right to hold and disburse such
      proceeds as the repair or restoration progresses (except in such cases
      where a provision entitling another party to hold and disburse such
      proceeds would not be viewed as commercially unreasonable by a prudent
      commercial mortgage lender), or to the payment in whole or in part of the
      outstanding principal balance of such Mortgage Loan together with any
      accrued and unpaid interest thereon; and

            (i) such Ground Lease does not impose any restrictions on subletting
      which would be viewed as commercially unreasonable by the Seller; such
      Ground Lease contains a covenant (or applicable laws provide) that the
      lessor thereunder is not permitted, in the absence of an uncured default,
      to disturb the possession, interest or quiet enjoyment of any lessee in
      the relevant portion of such Mortgaged Property subject to such Ground
      Lease for any reason, or in any manner, which would materially adversely
      affect the security provided by the related Mortgage.

            (21) (a) Except for those Mortgage Loans set forth on Schedule I
hereto for which a lender's environmental insurance policy was obtained in lieu
of an Environmental Site Assessment, an Environmental Site Assessment relating
to each Mortgaged Property and prepared no earlier than 12 months prior to the
Closing Date was obtained and reviewed by the Seller in connection with the
origination of such Mortgage Loan and a copy is included in the Servicing File.

            (b) Such Environmental Site Assessment does not identify, and the
      Seller has no actual knowledge of, any adverse circumstances or conditions
      with respect to or affecting the Mortgaged Property that would constitute
      or result in a material violation of any Environmental Laws, other than
      with respect to a Mortgaged Property (i) for which environmental insurance
      (as set forth on Schedule II hereto) is maintained, or (ii) which would
      require any expenditure greater than 5% of the outstanding principal
      balance of such Mortgage Loan to achieve or maintain compliance in all
      material respects with any Environmental Laws for which adequate sums, but
      in no event less than 125% of the estimated cost as set forth in the
      Environmental Site Assessment, were reserved in connection with the
      origination of the Mortgage Loan and for which the related Mortgagor has
      covenanted to perform, or (iii) as to which the related Mortgagor or one
      of its affiliates is currently taking or required to take such actions
      (which may be the implementation of an operations and maintenance plan),
      if any, with respect to such conditions or circumstances as have been
      recommended by the Environmental Site Assessment or required by the
      applicable governmental authority, or (iv) as to which another responsible
      party not related to the Mortgagor with assets reasonably estimated by the
      Seller at the time of origination to be sufficient to effect all necessary
      or required remediation identified in a notice or other action from the
      applicable governmental authority is currently taking or required to take
      such actions, if any, with respect to such regulatory authority's order or
      directive, or (v) as to which such conditions or circumstances identified
      in the Environmental Site Assessment were investigated further and based
      upon such additional investigation, an environmental consultant
      recommended no further investigation or remediation, or (vi) as to which a
      party with financial resources reasonably estimated to be adequate to cure
      the condition or circumstance provided a guaranty or indemnity to the
      related Mortgagor or to the mortgagee to cover the costs of any required
      investigation, testing, monitoring or remediation, or (vii) as to which
      the related Mortgagor or other responsible party obtained a "No Further
      Action" letter or other evidence reasonably acceptable to a prudent
      commercial mortgage lender that applicable federal, state, or local
      governmental authorities had no current intention of taking any action,
      and are not requiring any action, in respect of such condition or
      circumstance, or (viii) which would not require substantial cleanup,
      remedial action or other extraordinary response under any Environmental
      Laws reasonably estimated to cost in excess of 5% of the outstanding
      principal balance of such Mortgage Loan.

            (c) To the Seller's actual knowledge and in reliance upon the
      Environmental Site Assessment, except for any Hazardous Materials being
      handled in accordance with applicable Environmental Laws and except for
      any Hazardous Materials present at such Mortgaged Property for which, to
      the extent that an Environmental Site Assessment recommends remediation or
      other action, (A) there exists either (i) environmental insurance with
      respect to such Mortgaged Property (as set forth on Schedule II hereto) or
      (ii) an amount in an escrow account pledged as security for such Mortgage
      Loan under the relevant Mortgage Loan documents equal to no less than 125%
      of the amount estimated in such Environmental Site Assessment as
      sufficient to pay the cost of such remediation or other action in
      accordance with such Environmental Site Assessment or (B) one of the
      statements set forth in clause (b) above is true, (1) such Mortgaged
      Property is not being used for the treatment or disposal of Hazardous
      Materials; (2) no Hazardous Materials are being used or stored or
      generated for off-site disposal or otherwise present at such Mortgaged
      Property other than Hazardous Materials of such types and in such
      quantities as are customarily used or stored or generated for off-site
      disposal or otherwise present in or at properties of the relevant property
      type; and (3) such Mortgaged Property is not subject to any environmental
      hazard (including, without limitation, any situation involving Hazardous
      Materials) which under the Environmental Laws would have to be eliminated
      before the sale of, or which could otherwise reasonably be expected to
      adversely affect in more than a de minimis manner the value or
      marketability of, such Mortgaged Property.

            (d) The related Mortgage or other Mortgage Loan documents contain
      covenants on the part of the related Mortgagor requiring its compliance
      with any present or future federal, state and local Environmental Laws and
      regulations in connection with the Mortgaged Property. The related
      Mortgagor (or an affiliate thereof) has agreed to indemnify, defend and
      hold the Seller, and its successors and assigns, harmless from and against
      any and all losses, liabilities, damages, penalties, fines, expenses and
      claims of whatever kind or nature (including attorneys' fees and costs)
      imposed upon or incurred by or asserted against any such party resulting
      from a breach of the environmental representations, warranties or
      covenants given by the related Mortgagor in connection with such Mortgage
      Loan.

            (e) Each of the Mortgage Loans which is covered by a lender's
      environmental insurance policy obtained in lieu of an Environmental Site
      Assessment ("In Lieu of Policy") is identified on Schedule I, and each In
      Lieu of Policy is in an amount equal to 125% of the outstanding principal
      balance of the related Mortgage Loan and has a term ending no sooner than
      the maturity date (or, in the case of an ARD Loan, the final maturity
      date) of the related Mortgage Loan. All environmental assessments or
      updates that were in the possession of the Seller and that relate to a
      Mortgaged Property identified on Schedule I as being insured by an In Lieu
      of Policy have been delivered to or disclosed to the In Lieu of Policy
      carrier issuing such policy prior to the issuance of such policy.

            (22) As of the date of origination of the related Mortgage Loan,
and, as of the Closing Date, the Mortgaged Property is covered by insurance
policies providing the coverage described below and the Mortgage Loan documents
permit the mortgagee to require the coverage described below. All premiums with
respect to the Insurance Policies insuring each Mortgaged Property have been
paid in a timely manner or escrowed to the extent required by the Mortgage Loan
documents, and the Seller has not received (1) any notice of non payment of
premiums that has not been cured in a timely manner by the related Mortgagor or
(2) any notice of cancellation or termination of such Insurance Policies. The
relevant Servicing File contains the Insurance Policy required for such Mortgage
Loan or a certificate of insurance for such Insurance Policy. Each Mortgage
requires that the related Mortgaged Property and all improvements thereon are
covered by Insurance Policies providing (a) coverage in the amount of the lesser
of full replacement cost of such Mortgaged Property and the outstanding
principal balance of the related Mortgage Loan (subject to customary
deductibles) for losses sustained by fire and against loss or damage by other
risks and hazards covered by a standard extended coverage insurance policy
providing "special" form coverage in an amount sufficient to prevent the
Mortgagor from being deemed a co-insurer and to provide coverage on a full
replacement cost basis of such Mortgaged Property (in some cases exclusive of
excavations, underground utilities, foundations and footings) with an agreed
amount endorsement to avoid application of any coinsurance provision; such
policies contain a standard mortgage clause naming mortgagee and its successor
in interest as additional insureds or loss payee, as applicable; (b) business
interruption or rental loss insurance in an amount at least equal to (i) 12
months of operations or (ii) in some cases all rents and other amounts
customarily insured under this type of insurance of the Mortgaged Property; (c)
flood insurance (if any portion of the improvements on the Mortgaged Property is
located in an area identified by the Federal Emergency Management Agency
("FEMA"), with respect to certain Mortgage Loans and the Secretary of Housing
and Urban Development with respect to other Mortgage Loans, as having special
flood hazards) in an amount not less than amounts prescribed by FEMA; (d)
workers' compensation, if required by law; (e) comprehensive general liability
insurance in an amount consistent with the standard utilized by the Seller with
respect to loans it holds for its own account, but not less than $1 million; all
such Insurance Policies contain clauses providing they are not terminable and
may not be terminated without thirty (30) days prior written notice to the
mortgagee (except where applicable law requires a shorter period or except for
nonpayment of premiums, in which case not less than ten (10) days prior written
notice to the mortgagee is required). In addition, each Mortgage permits the
related mortgagee to make premium payments to prevent the cancellation thereof
and shall entitle such mortgagee to reimbursement therefor. Any insurance
proceeds in respect of a casualty loss or taking will be applied either to the
repair or restoration of all or part of the related Mortgaged Property or the
payment of the outstanding principal balance of the related Mortgage Loan
together with any accrued interest thereon. The related Mortgaged Property is
insured by an Insurance Policy, issued by an insurer meeting the requirements of
such Mortgage Loan and having a claims-paying or financial strength rating of at
least "A-:V" from A.M. Best Company or "A" (or the equivalent) from Standard &
Poor's Ratings Services, Fitch, Inc. or Moody's Investors Service, Inc. An
architectural or engineering consultant has performed an analysis of each of the
Mortgaged Properties located in seismic zones 3 or 4 in order to evaluate the
structural and seismic condition of such property, for the sole purpose of
assessing the probable maximum loss ("PML") for the Mortgaged Property in the
event of an earthquake. In such instance, the PML was based on a return period
of not less than 100 years, an exposure period of 50 years and a 10% probability
of exceedence. If the resulting report concluded that the PML would exceed 20%
of the amount of the replacement costs of the improvements, earthquake insurance
on such Mortgaged Property was obtained by an insurer rated at least "A-:V" by
A.M. Best Company or "A" (or the equivalent) from Standard & Poor's Ratings
Services, Fitch, Inc. or Moody's Investors Service, Inc. To the Seller's actual
knowledge, the insurer issuing each of the foregoing insurance policies is
qualified to write insurance in the jurisdiction where the related Mortgaged
Property is located.

            (23) All amounts required to be deposited by each Mortgagor at
origination under the related Mortgage Loan documents have been deposited or
have been withheld from the related Mortgage Loan proceeds at origination and
there are no deficiencies with regard thereto.

            (24) Whether or not a Mortgage Loan was originated by the Seller, to
the Seller's knowledge, with respect to each Mortgage Loan originated by the
Seller and each Mortgage Loan originated by any Person other than the Seller, as
of the date of origination of the related Mortgage Loan, and, to the Seller's
actual knowledge, with respect to each Mortgage Loan originated by the Seller
and any prior holder of the Mortgage Loan, as of the Closing Date, there are no
actions, suits, arbitrations or governmental investigations or proceedings by or
before any court or other governmental authority or agency now pending against
or affecting the Mortgagor under any Mortgage Loan or any of the Mortgaged
Properties which, if determined against such Mortgagor or such Mortgaged
Property, would materially and adversely affect the value of such Mortgaged
Property, the security intended to be provided with respect to the related
Mortgage Loan, or the ability of such Mortgagor and/or the current use of such
Mortgaged Property to generate net cash flow to pay principal, interest and
other amounts due under the related Mortgage Loan; and to the Seller's actual
knowledge there are no such actions, suits or proceedings threatened against
such Mortgagor.

            (25) The origination practices used by the Seller or, to its
knowledge, any prior holder of the related Mortgage Note with respect to such
Mortgage Loan have been in all material respects legal and have met customary
industry standards and since origination, the Mortgage Loan has been serviced in
all material respects in a legal manner in conformance with customary industry
standards.

            (26) The originator of the Mortgage Loan or the Seller has inspected
or caused to be inspected each related Mortgaged Property within the 12 months
prior to the Closing Date.

            (27) The Mortgage Loan documents require the Mortgagor to provide
the holder of the Mortgage Loan with at least annual operating statements,
financial statements and except for Mortgage Loans for which the related
Mortgaged Property is leased to a single tenant, rent rolls.

            (28) All escrow deposits and payments required by the terms of each
Mortgage Loan are in the possession, or under the control of the Seller (except
to the extent they have been disbursed for their intended purposes), and all
amounts required to be deposited by the applicable Mortgagor under the related
Mortgage Loan documents have been deposited, and there are no deficiencies with
regard thereto (subject to any applicable notice and cure period). All of the
Seller's interest in such escrows and deposits will be conveyed by the Seller to
the Purchaser hereunder.

            (29) No two or more Mortgage Loans representing, in the aggregate,
more than 5% of the aggregate outstanding principal amount of all the mortgage
loans included in the Trust Fund have the same Mortgagor or, to the Seller's
knowledge, are to Mortgagors which are entities controlled by one another or
under common control.

            (30) Each Mortgagor with respect to a Mortgage Loan with a principal
balance as of the Cut-off Date in excess of $15,000,000 included in the Trust
Fund is an entity whose organizational documents or related Mortgage Loan
documents provide that it is, and at least so long as the Mortgage Loan is
outstanding will continue to be, a Single Purpose Entity. For this purpose,
"Single Purpose Entity" shall mean a Person, other than an individual, whose
organizational documents or related Mortgage Loan documents provide that it
shall engage solely in the business of owning and operating the Mortgaged
Property and which does not engage in any business unrelated to such property
and the financing thereof, does not have any assets other than those related to
its interest in the Mortgaged Property or the financing thereof or any
indebtedness other than as permitted by the related Mortgage or the other
Mortgage Loan documents, and the organizational documents of which require that
it have its own separate books and records and its own accounts, in each case
which are separate and apart from the books and records and accounts of any
other Person.

            (31) The gross proceeds of each Mortgage Loan to the related
Mortgagor at origination did not exceed the non-contingent principal amount of
the Mortgage Loan and either: (a) such Mortgage Loan is secured by an interest
in real property having a fair market value (i) at the date the Mortgage Loan
was originated at least equal to 80% of the original principal balance of the
Mortgage Loan or (ii) at the Closing Date at least equal to 80% of the original
principal balance of the Mortgage Loan on such date; provided that for purposes
hereof, the fair market value of the real property interest must first be
reduced by (A) the amount of any lien on the real property interest that is
senior to the Mortgage Loan and (B) a proportionate amount of any lien that is
in parity with the Mortgage Loan (unless such other lien secures a Mortgage Loan
that is cross-collateralized with such Mortgage Loan, in which event the
computation described in sub-clauses (a)(i) and (a)(ii) of this clause (31)
shall be made on a pro rata basis in accordance with the fair market values of
the Mortgaged Properties securing such cross-collateralized Mortgage Loan); or
(b) substantially all the proceeds of such Mortgage Loan were used to acquire,
improve or protect the real property which served as the only security for such
Mortgage Loan (other than a recourse feature or other third party credit
enhancement within the meaning of Treasury Regulations Section
1.860G-2(a)(1)(ii)). If the Mortgage Loan was "significantly modified" prior to
the Closing Date so as to result in a taxable exchange under Section 1001 of the
Code, it either (x) was modified as a result of the default or reasonably
foreseeable default of such Mortgage Loan or (y) satisfies the provisions of
either sub-clause (a)(i) above (substituting the date of the last such
modification for the date the Mortgage Loan was originated) or sub-clause
(a)(ii), including the proviso thereto. The Mortgage Loan is a "qualified
mortgage" within the meaning of Section 860G(a)(3) of the Code (but without
regard to the rule in Treasury Regulations Section 1.860G-2(f)(2) that treats
certain defective mortgage loans as qualified mortgages). Any prepayment premium
and yield maintenance charges applicable to the Mortgage Loan constitute
"customary prepayment penalties" within the meaning of Treasury Regulations
Section 1.860G-1(b)(2).

            (32) Each of the Mortgage Loans contains a "due on sale" clause,
which provides for the acceleration of the payment of the unpaid principal
balance of the Mortgage Loan if, without the prior written consent of the holder
of the Mortgage Loan, the property subject to the Mortgage, or any controlling
interest therein, is directly or indirectly transferred or sold (except that it
may provide for transfers by devise, descent or operation of law upon the death
of a member, manager, general partner or shareholder of a Mortgagor and that it
may provide for transfers subject to the Mortgage Loan holder's approval of
transferee, transfers of worn out or obsolete furnishings, fixtures, or
equipment promptly replaced with property of equivalent value and functionality,
transfers of leases entered into in accordance with the Mortgage Loan documents,
transfers to affiliates, transfers to family members for estate planning
purposes, transfers among existing members, partners or shareholders in
Mortgagors or transfers of passive interests so long as the key principals or
general partner retains control). The Mortgage Loan documents contain a "due on
encumbrance" clause, which provides for the acceleration of the payment of the
unpaid principal balance of the Mortgage Loan if the property subject to the
Mortgage or any controlling interest in the Mortgagor is further pledged or
encumbered, unless the prior written consent of the holder of the Mortgage Loan
is obtained (except that it may provide for assignments subject to the Mortgage
Loan holder's approval of transferee, transfers to affiliates or transfers of
passive interests so long as the key principals or general partner retains
control). The Mortgage or Mortgage Note requires the Mortgagor to pay all
reasonable out-of-pocket fees and expenses associated with securing the consent
or approval of the holder of the Mortgage for a waiver of a "due on sale" or
"due on encumbrance" clause or a defeasance provision. As of the Closing Date,
the Seller holds no preferred equity interest in any Mortgagor and the Seller
holds no mezzanine debt related to such Mortgaged Property.

            (33) Except with respect to the AB Mortgage Loans, each Mortgage
Loan is a whole loan and not a participation interest in a mortgage loan.

            (34) Each Mortgage Loan containing provisions for defeasance of
mortgage collateral provides that: defeasance may not occur any earlier than two
years after the Closing Date; and requires or provides (i) the replacement
collateral consist of U.S. "government securities," within the meaning of
Treasury Regulations Section 1.860 G-2(a)(8)(i), in an amount sufficient to make
all scheduled payments under the Mortgage Note when due (up to the maturity date
for the related Mortgage Loan, the Anticipated Repayment Date for ARD Loans or
the date on which the Mortgagor may prepay the related Mortgage Loan without
payment of any prepayment penalty); (ii) the loan may be assumed by a Single
Purpose Entity approved by the holder of the Mortgage Loan; (iii) counsel
provide an opinion that the trustee has a perfected security interest in such
collateral prior to any other claim or interest; and (iv) such other documents
and certifications as the mortgagee may reasonably require which may include,
without limitation, (A) a certification that the purpose of the defeasance is to
facilitate the disposition of the mortgaged real property or any other customary
commercial transaction and not to be part of an arrangement to collateralize a
REMIC offering with obligations that are not real estate mortgages and (B) a
certification from an independent certified public accountant that the
collateral is sufficient to make all scheduled payments under the Mortgage Note
when due. Each Mortgage Loan containing provisions for defeasance provides that,
in addition to any cost associated with defeasance, the related Mortgagor shall
pay, as of the date the mortgage collateral is defeased, all scheduled and
accrued interest and principal due as well as an amount sufficient to defease in
full the Mortgage Loan (except as contemplated in clause (35) hereof). In
addition, if the related Mortgage Loan permits defeasance, then the Mortgage
Loan documents provide that the related Mortgagor shall (x) pay all reasonable
fees associated with the defeasance of the Mortgage Loan and all other
reasonable expenses associated with the defeasance, or (y) provide all opinions
required under the related Mortgage Loan documents, and in the case of any
Mortgage Loan with an outstanding principal balance as of the Cut-off Date of
$40,000,000 or greater, (a) a REMIC opinion and (b) rating agency letters
confirming that no downgrade or qualification shall occur as a result of the
defeasance.

            (35) In the event that a Mortgage Loan is secured by more than one
Mortgaged Property, then, in connection with a release of less than all of such
Mortgaged Properties, a Mortgaged Property may not be released as collateral for
the related Mortgage Loan unless, in connection with such release, an amount
equal to not less than 125% of the Allocated Loan Amount for such Mortgaged
Property is prepaid or, in the case of a defeasance, an amount equal to 125% of
the Allocated Loan Amount is defeased through the deposit of replacement
collateral (as contemplated in clause (34) hereof) sufficient to make all
scheduled payments with respect to such defeased amount, or such release is
otherwise in accordance with the terms of the Mortgage Loan documents.

            (36) Each Mortgaged Property is owned by the related Mortgagor,
except for Mortgaged Properties which are secured in whole or in a part by a
Ground Lease and for out-parcels, and is used and occupied for commercial or
multifamily residential purposes in accordance with applicable law.

            (37) Any material non-conformity with applicable zoning laws
constitutes a legal non-conforming use or structure which, in the event of
casualty or destruction, may be restored or repaired to the full extent of the
use or structure at the time of such casualty, or for which law and ordinance
insurance coverage has been obtained in amounts consistent with the standards
utilized by the Seller.

            (38) Neither the Seller nor any affiliate thereof has any obligation
to make any capital contributions to the related Mortgagor under the Mortgage
Loan. The Mortgage Loan was not originated for the sole purpose of financing the
construction of incomplete improvements on the related Mortgaged Property.

            (39) No court of competent jurisdiction will determine in a final
decree that fraud with respect to the Mortgage Loans has taken place on the part
of the Seller or, to the Seller's actual knowledge, on the part of any
originator, in connection with the origination of such Mortgage Loan.

            (40) If the related Mortgage or other Mortgage Loan documents
provide for a grace period for delinquent Monthly Payments, such grace period is
no longer than ten (10) days from the applicable payment date or, with respect
to acceleration or the commencement of the accrual of default interest under any
Mortgage Loan, five (5) days after notice to the Mortgagor of default.

            (41) The following statements are true with respect to the related
Mortgaged Property: (a) the Mortgaged Property is located on or adjacent to a
dedicated road or has access to an irrevocable easement permitting ingress and
egress and (b) the Mortgaged Property is served by public or private utilities,
water and sewer (or septic facilities) appropriate for the use in which the
Mortgaged Property is currently being utilized.

            (42) None of the Mortgage Loan documents contain any provision that
expressly excuses the related borrower from obtaining and maintaining insurance
coverage for acts of terrorism or, in circumstances where terrorism insurance is
not expressly required, the mortgagee is not prohibited from requesting that the
related borrower maintain such insurance, in each case, to the extent such
insurance coverage is generally available for like properties in such
jurisdictions at commercially reasonable rates. Each Mortgaged Property is
insured by a "standard extended coverage" casualty insurance policy that does
not contain an express exclusion for (or, alternatively, is covered by a
separate policy that insures against property damage resulting from) acts of
terrorism.

            (43) An appraisal of the related Mortgaged Property was conducted in
connection with the origination of such Mortgage Loan, and such appraisal
satisfied the guidelines in Title XI of the Financial Institutions Reform,
Recovery and Enforcement Act of 1989, as in effect on the date such Mortgage
Loan was originated.

            Defined Terms:

            The term "Allocated Loan Amount" shall mean, for each Mortgaged
Property, the portion of principal of the related Mortgage Loan allocated to
such Mortgaged Property for certain purposes (including determining the release
prices of properties, if permitted) under such Mortgage Loan as set forth in the
related loan documents. There can be no assurance, and it is unlikely, that the
Allocated Loan Amounts represent the current values of individual Mortgaged
Properties, the price at which an individual Mortgaged Property could be sold in
the future to a willing buyer or the replacement cost of the Mortgaged
Properties.

            The term "Anticipated Repayment Date" shall mean the date on which
all or substantially all of any Excess Cash Flow is required to be applied
toward prepayment of the related Mortgage Loan and on which any such Mortgage
Loan begins accruing Excess Interest.

            The term "ARD Loan" shall have the meaning assigned thereto in the
Pooling and Servicing Agreement.

            The term "Environmental Site Assessment" shall mean a Phase I
environmental report meeting the requirements of the American Society for
Testing and Materials, and, if in accordance with customary industry standards a
reasonable lender would require it, a Phase II environmental report, each
prepared by a licensed third party professional experienced in environmental
matters.

            The term "Excess Cash Flow" shall mean the cash flow from the
Mortgaged Property securing an ARD Loan after payments of interest (at the
Mortgage Interest Rate) and principal (based on the amortization schedule), and
(a) required payments for the tax and insurance fund and ground lease escrows
fund, (b) required payments for the monthly debt service escrows, if any, (c)
payments to any other required escrow funds and (d) payment of operating
expenses pursuant to the terms of an annual budget approved by the applicable
Master Servicer and discretionary (lender approved) capital expenditures.

            The term "Excess Interest" shall mean any accrued and deferred
interest on an ARD Loan in accordance with the following terms. Commencing on
the respective Anticipated Repayment Date each ARD Loan (pursuant to its
existing terms or a unilateral option, as defined in Treasury Regulations under
Section 1001 of the Code, in the Mortgage Loans exercisable during the term of
the Mortgage Loan) generally will bear interest at a fixed rate (the "Revised
Rate") per annum equal to the Mortgage Interest Rate plus a percentage specified
in the related Mortgage Loan documents. Until the principal balance of each such
Mortgage Loan has been reduced to zero (pursuant to its existing terms or a
unilateral option, as defined in Treasury Regulations under Section 1001 of the
Code, in the Mortgage Loans exercisable during the term of the Mortgage Loan),
such Mortgage Loan will only be required to pay interest at the Mortgage
Interest Rate and the interest accrued at the excess of the related Revised Rate
over the related Mortgage Interest Rate will be deferred (such accrued and
deferred interest and interest thereon, if any, is "Excess Interest").

            The term "in reliance on" shall mean that:

                  (a) the Seller has examined and relied in whole or in part
      upon one or more of the specified documents or other information in
      connection with a given representation or warranty;

                  (b) that the information contained in such document or
      otherwise obtained by the Seller appears on its face to be consistent in
      all material respects with the substance of such representation or
      warranty;

                  (c) the Seller's reliance on such document or other
      information is consistent with the standard of care exercised by prudent
      lending institutions originating commercial mortgage loans; and

                  (d) although the Seller is under no obligation to verify
      independently the information contained in any document specified as being
      relied upon by it, the Seller believes the information contained therein
      to be true, accurate and complete in all material respects and has no
      actual knowledge of any facts or circumstances which would render reliance
      thereon unjustified without further inquiry.

            The term "Mortgage Interest Rate" shall mean the fixed rate of
interest per annum that each Mortgage Loan bears as of the Cut-off Date.

            The term "Permitted Encumbrances" shall mean:

                  (a) the lien of current real property taxes, water charges,
      sewer rents and assessments not yet delinquent or accruing interest or
      penalties;

                  (b) covenants, conditions and restrictions, rights of way,
      easements and other matters of public record acceptable to mortgage
      lending institutions generally and referred to in the related mortgagee's
      title insurance policy;

                  (c) other matters to which like properties are commonly
      subject, and

                  (d) the rights of tenants, as tenants only, whether under
      ground leases or space leases at the Mortgaged Property.

            which together do not materially and adversely affect the related
      Mortgagor's ability to timely make payments on the related Mortgage Loan,
      which do not materially interfere with the benefits of the security
      intended to be provided by the related Mortgage or the use, for the use
      currently being made, the operation as currently being operated,
      enjoyment, value or marketability of such Mortgaged Property, provided,
      however, that, for the avoidance of doubt, Permitted Encumbrances shall
      exclude all pari passu, second, junior and subordinated mortgages but
      shall not exclude mortgages that secure other Mortgage Loans or Companion
      Loans that are cross-collateralized with the related Mortgage Loan.

            Other. For purposes of these representations and warranties, the
term "to the Seller's knowledge" shall mean that no officer, employee or agent
of the Seller responsible for the underwriting, origination or sale of the
Mortgage Loans or of any servicer responsible for servicing the Mortgage Loan on
behalf of the Seller, believes that a given representation or warranty is not
true or is inaccurate based upon the Seller's reasonable inquiry and during the
course of such inquiry, no such officer, employee or agent of the Seller has
obtained any actual knowledge of any facts or circumstances that would cause
such person to believe that such representation or warranty was inaccurate.
Furthermore, all information contained in documents which are part of or
required to be part of a Mortgage File shall be deemed to be within the Seller's
knowledge. For purposes of these representations and warranties, the term "to
the Seller's actual knowledge" shall mean that an officer, employee or agent of
the Seller responsible for the underwriting, origination and sale of the
Mortgage Loans does not actually know of any facts or circumstances that would
cause such person to believe that such representation or warranty was
inaccurate.

<PAGE>

                                   EXHIBIT C

           EXCEPTIONS TO MORTGAGE LOAN REPRESENTATIONS AND WARRANTIES

Exception to Representation 6
--------------------------------------------------------------------------------

       Mortgage Loan                              Exception
--------------------------------------------------------------------------------

Tysons Galleria              In addition to the Mortgage Loan, the related
                             Mortgaged Property secures a pari passu A-note and
                             a subordinate B-note.
--------------------------------------------------------------------------------

University Center            Walgreens, a tenant at the Mortgaged Property, has
                             a right of first refusal to purchase its pad at
                             the Mortgaged Property.
--------------------------------------------------------------------------------

Walgreens & Pier 1 Imports   Walgreens, a tenant at the Mortgaged Property, has
                             a right to first refusal to purchase the Mortgaged
                             Property that has been subordinated to the
                             Mortgage Loan and accordingly will not affect the
                             lender's rights to foreclose, but such right is
                             not subordinated to a subsequent transfer by a
                             purchaser at a foreclosure sale.
--------------------------------------------------------------------------------

Best Western Leisure Inn     The borrower currently holds a promissory note as
                             the payor in the principal amount of
                             $4,143,060.44, which note has a maturity date of
                             January 31, 2012, or January 31, 2022 should
                             borrower extend the term pursuant to the terms of
                             the note, and is payable solely to the extent of
                             excess cash flow with a minimum annual
                             disbursement of $5,000. The note is expressly not
                             secured by the Mortgaged Property, however, the
                             note provides that upon a default thereunder the
                             payee under the holder of the note shall be
                             "deemed to have a security interest" in the
                             Mortgaged Property only to the extent of the
                             amount which gave rise to the default, which is
                             expressly subordinate to the Mortgaged Property.
                             Additionally, the payee executed a subordination
                             and standstill agreement in favor of the lender.
--------------------------------------------------------------------------------

Exception to Representation 8
--------------------------------------------------------------------------------

       Mortgage Loan                              Exception
--------------------------------------------------------------------------------

University Center            Walgreens, a tenant at the Mortgaged Property, has
                             a right of first refusal to purchase its pad at
                             the Mortgaged Property.
--------------------------------------------------------------------------------

Walgreens & Pier 1 Imports   Walgreens, a tenant at the Mortgaged Property, has
                             a right to first refusal to purchase the Mortgaged
                             Property that has been subordinated to the
                             Mortgage Loan and accordingly will not affect the
                             lender's rights to foreclose, but such right is
                             not subordinated to a subsequent transfer by a
                             purchaser at a foreclosure sale.
--------------------------------------------------------------------------------

Exception to Representation 10(a)
--------------------------------------------------------------------------------

       Mortgage Loan                              Exception
--------------------------------------------------------------------------------

All Mortgage Loans except    The Mortgage Loan documents provide for recourse
as specified below           for the misapplication or conversion by the
                             borrower of any rents following an event of
                             default or any rents collected for more than one
                             month in advance to the extent that such rents or
                             any other payments in respect of the Leases and
                             other income of the related Mortgaged Property or
                             any other collateral are not applied to the costs
                             of maintenance and operation of the related
                             Mortgaged Property and to the payment of taxes,
                             lien claims, insurance premiums, debt service and
                             other amounts due under the loan documents,
                             instead of "misapplication of rents, insurance
                             proceeds or condemnation awards" with respect to
                             all Mortgage Loans.
--------------------------------------------------------------------------------

Tysons Galleria, Walney      There is no other individual or entity other than
Business Center              the borrower that is liable for the non-recourse
                             carveouts.
--------------------------------------------------------------------------------

Burbank Town Center          With respect to clause (ii) of the second sentence
                             of representation 10(a), the Mortgage Loan
                             documents provide for recourse for any act of
                             actual waste or arson at the Mortgaged Property by
                             the borrower, its principals, affiliates and
                             members rather than for recourse due to damage or
                             destruction to the Mortgaged Property.
--------------------------------------------------------------------------------

Northland Mall, Bayport      With respect to clause (ii) of the second sentence
One, Midland Plaza           of representation 10(a), the Mortgage Loan
                             documents provide for recourse for "damage or
                             destruction to the Mortgaged Property caused by
                             the intentional or grossly negligent acts or
                             omissions of the borrower, its principals or
                             authorized agents."
--------------------------------------------------------------------------------

Lincoln Town Center,         With respect to clause (ii) of the second sentence
Woodberry Plaza              of representation 10(a), the Mortgage Loan
                             documents do not provide for recourse for damage
                             or destruction to the Mortgaged Property caused by
                             the acts or omissions of the borrower, its agents,
                             employees or contractors.
--------------------------------------------------------------------------------

Exception to Representation 10(d)
--------------------------------------------------------------------------------

       Mortgage Loan                              Exception
--------------------------------------------------------------------------------

Tysons Galleria              The Mortgage Loan documents were modified on
                             September 19, 2006 to create three promissory
                             notes evidencing the loan made to the borrower in
                             the total original principal amount of
                             $255,000,000.00: (i) a Replacement Promissory Note
                             (Note A-1) dated September 19, 2006 in the
                             principal amount of $173,500,000.00, (ii) a
                             Replacement Promissory Note (Note A-2) dated
                             September 19, 2006 in the principal amount of
                             $50,000,000.00 and (iii) a Replacement Promissory
                             Note (Note B) dated September 19, 2006 in the
                             original principal amount of $31,500,000.00.
--------------------------------------------------------------------------------

Exceptions to Representation 12
--------------------------------------------------------------------------------
       Mortgage Loan                              Exception
--------------------------------------------------------------------------------

Tysons Galleria              The Mortgage Loan documents permit the release of
                             one or more specified parcels at the Mortgaged
                             Property without payment of release price,
                             provided that except with respect to parcels that
                             are acquired after the origination date, each such
                             parcel is generally required to be vacant,
                             non-income producing and unimproved or improved
                             only by landscaping utility facility that are
                             readily relocatable or surface parting areas.
--------------------------------------------------------------------------------

Burbank Town Center          The Mortgage Loan documents permit the release of
                             one or more specified parcels at the Mortgaged
                             Property through partial defeasance from and after
                             the expiration of a lockout period, or partial
                             prepayment at any time other than within the
                             period commencing 30 days preceding the Closing
                             Date and terminating 30 days after the Closing
                             Date, at the following release prices: (a) with
                             respect to the Circuit City parcel, $9,988,778.00;
                             (b) with respect to the Office Depot parcel,
                             $5,443,061.00; (c) with respect to the Barnes &
                             Noble parcel, $41,996,428; (d) with respect to the
                             Restaurant parcel, $3,365,652.00; (e) with respect
                             to the PetsMart parcel, $20,210,311.00; and (f)
                             with respect to the Corner Bakery parcel,
                             $2,914,159.00. Any partial release through
                             prepayment will also be subject to payment of a
                             yield maintenance premium.
--------------------------------------------------------------------------------

Exceptions to Representation 19
--------------------------------------------------------------------------------
       Mortgage Loan                              Exception
--------------------------------------------------------------------------------

Southland Terrace Shopping   With respect to Representation 19(a), the
Center                       engineering report is dated July 6, 2005.
--------------------------------------------------------------------------------

Exceptions to Representation 20(h)
--------------------------------------------------------------------------------
       Mortgage Loan                              Exception
--------------------------------------------------------------------------------

Burbank Town Center          The borrower's obligations to restore repair and
                             the Mortgaged Property are also subject to the
                             terms of a COREA.
--------------------------------------------------------------------------------

Exceptions to Representation 21(d)
--------------------------------------------------------------------------------
       Mortgage Loan                              Exception
--------------------------------------------------------------------------------
Tysons Galleria              The losses covered by the environmental indemnity
                             do not include losses incurred by reason of
                             diminution in value or punitive or consequential
                             damages.
--------------------------------------------------------------------------------

Exceptions to Representation 22
--------------------------------------------------------------------------------

       Mortgage Loan                              Exception
--------------------------------------------------------------------------------

Tysons Galleria              The borrower will maintain insurance coverage with
                             respect to workmen's comp, motor vehicle liability
                             coverage and earthquake insurance pursuant to
                             policies issued by either (A) one or more
                             financially sound and responsible insurance
                             companies authorized to do business in the state
                             in which the Mortgaged Property is located and
                             having a claims paying ability rating of "A" or
                             better by S&P or (B) a syndicate of insurers
                             through which (1) at least fifty percent (50%) of
                             claims coverage shall be with one or more carriers
                             having a claims-paying ability rating by A.M. Best
                             of "A-X" or better, (2) at least ninety percent
                             (90%) of claims coverage (inclusive of the
                             coverage provided by carriers described in (1)
                             above) shall be with one or more carriers having a
                             claims paying ability rating by A.M. Best of
                             "A-VIII" or better, (3) the balance of the
                             coverage not to exceed ten percent (10%) of claims
                             coverage is with one or more carriers having a
                             claims paying ability rating by A.M. Best of
                             "A-VII" or better and (4) provided, further, with
                             regard to any insurance carrier which has a
                             claims-paying-ability rating by A.M. Best of less
                             than "A-X" such carrier may not represent more
                             than five percent (5%) of the total earthquake
                             insurance.

                             The borrower is permitted to maintain business
                             income insurance with either (A) one or more
                             financially sound and responsible insurance
                             companies authorized to do business in the state
                             in which the Mortgaged Property is located and
                             having a claims-paying-ability rating by S&P not
                             lower than "A" or (B) a syndicate of insurers
                             through which at least sixty percent (60%) of the
                             coverage is with carriers having a claims
                             paying-ability rating by S&P not lower than "BBB"
                             and which syndicate may include Factory Mutual
                             Insurance Company so long as Factory Mutual
                             Insurance Company is a member of an insurance
                             syndicate (i) a claims paying ability rating of
                             not lower than "AA" by Fitch and "A+XV" by A.M.
                             Best and (ii) a claims paying ability rating by
                             S&P based solely on public information of not
                             lower than "BBBpi".

                             The borrower is permitted to maintain all other
                             insurance coverage with either (A) one or more
                             financially sound and responsible insurance
                             companies authorized to do business in the state
                             in which the Mortgaged Property is located and
                             having a claims-paying-ability rating by S&P not
                             lower than "A-" or (B) a syndicate of insurers
                             through which at least sixty percent (60%) of the
                             coverage (if there are 4 or fewer members of the
                             syndicate) or at least fifty percent (50%) of the
                             coverage (if there are 5 or more members of the
                             syndicate) is with carriers having a claims-paying
                             ability rating by S&P not lower than "A-" and the
                             balance of the coverage is, in each case, with
                             insurers having a claims-paying ability rating by
                             S&P of not lower than "BBB", provided that in each
                             case, the first loss risk is borne by the carriers
                             having a claims-paying-rating by S&P of not lower
                             than "A-", and which syndicate may include Factory
                             Mutual Insurance Company so long as Factory Mutual
                             Insurance Company and is a member of an insurance
                             syndicate that has (i) a claims paying ability
                             rating of not lower than "AAA" by Fitch and "A+XV"
                             by A.M. Best and (ii) a claims paying ability
                             rating by S&P based solely on public information
                             of not lower than "BBBpi", (2) flood hazard
                             insurance coverage with any insurance company
                             authorized by the United States government to
                             issue such insurance provided such flood hazard
                             insurance is reinsured by the United States
                             government.
--------------------------------------------------------------------------------

Holiday Inn-Parsippany       The borrower is required to maintain coverage for
                             50% of the gross income at the related Mortgaged
                             Property, which is estimated to cover the full
                             amount of the projected net operating income at
                             that Mortgaged Property for the 12-month period.
--------------------------------------------------------------------------------

Walgreens & Pier 1 Imports   The Mortgaged Property has no insurance coverage
                             for lost income due to business interruption
                             resulting from a windstorm. However, the borrower
                             principal has guaranteed to the lender the payment
                             of the different between the projected gross rents
                             and the actual gross rents at the Mortgaged
                             Property.
--------------------------------------------------------------------------------

Best Western Leisure Inn     The borrower is required to maintain coverage for
                             50% of the gross income at the related Mortgaged
                             Property, which is estimated to cover the full
                             amount of the projected net operating income at
                             that Mortgaged Property for the 12-month period.
--------------------------------------------------------------------------------

Exception to Representation 32
--------------------------------------------------------------------------------

       Mortgage Loan                              Exception
--------------------------------------------------------------------------------

Tysons Galleria, Burbank     Subject to the satisfaction of certain conditions
Town Center, 1800-1880 JFK   set forth in the Mortgage Loan documents,
Boulevard, Riverstone        including the satisfaction of LTV and DSCR tests,
Apartments, Holiday          the equity holder of the borrower is permitted to
Inn-Parsippany               incur mezzanine debt.
--------------------------------------------------------------------------------

Tysons Galleria              The Mortgage Loan documents permit: (i) transfers
                             of direct or indirect ownership interests in the
                             borrower to "Qualified Transferees" meeting
                             certain financial criteria and general
                             creditworthiness standards set forth in the Loan
                             Agreement; and (ii) transfers of direct or
                             indirect ownership interests in certain specified
                             affiliates of the borrower. A "Qualified
                             Transferee" shall mean any one of the following
                             Persons: (i) a pension fund, pension trust or
                             pension account that (a) has total real estate
                             assets of at least $1 billion and (b) is managed
                             by a Person who controls at least $1 billion of
                             real estate equity assets; (ii) a pension fund
                             advisor who (a) immediately prior to such
                             transfer, controls at least $1 billion of real
                             estate equity assets and (b) is acting on behalf
                             of one or more pension funds that, in the
                             aggregate, satisfy the requirements of clause (i)
                             of this definition; (iii) an insurance company
                             which is subject to supervision by the insurance
                             commissioner, or a similar official or agency, of
                             a state or territory of the United States
                             (including the District of Columbia) (a) with a
                             net worth, as of a date no more than six (6)
                             months prior to the date of the transfer of at
                             least $500 million and (b) who, immediately prior
                             to such transfer, controls real estate equity
                             assets of at least $1 billion; (iv) a corporation
                             organized under the banking laws of the United
                             States or any state or territory of the United
                             States (including the District of Columbia) (a)
                             with a combined capital and surplus of at least
                             $500 million and (b) who, immediately prior to
                             such transfer, controls real estate equity assets
                             of at least $1 billion; or (v) any person (a)
                             with a long-term unsecured debt rating from the
                             Rating Agencies of at least investment grade or
                             (b) who (i) owns or operates at least (10)
                             regional shopping centers totaling at least six
                             (6) million square feet of gross leasable area,
                             (ii) has a net worth, as of a date no more than
                             six (6) months prior to the date of such
                             transfer, of at least $500 million and (iii)
                             immediately prior to such transfer, controls real
                             estate equity assets of at least $1 billion.

                             In addition, the holders of indirect ownership
                             interests in the borrower are permitted to pledge
                             their interests as security for additional debt,
                             provided that, among other things, the following
                             conditions are satisfied: (i) no event of default
                             under the Mortgage Loan has occurred and is
                             continuing, (ii) the pledge is to a "qualified
                             pledgee" or is subject to the lender's prior
                             written consent, which may be withheld in the
                             lender's sole and absolute discretion, provided
                             that the lender's consent may not be unreasonably
                             withheld, if the borrower has delivered (A)
                             rating agency confirmation that the pledge will
                             not, in and of itself, result in a downgrade,
                             withdrawal or qualification of the ratings
                             assigned to the certificates and (B) a
                             substantive non-consolidation opinion reasonable
                             acceptable to the lender and the rating agencies,
                             and (iii) in the event the property manager of
                             the Mortgaged Property will change in connection
                             with the pledge, the replacement property manager
                             must meet the conditions set forth in the related
                             Mortgage Loan documents. Pledges of equity to or
                             from affiliates of the borrower are also
                             permitted. A "qualified pledgee" generally
                             means (i) one or more institutional entities that
                             (A) has total assets (in name or under
                             management) in excess of $650,000,000, and
                             (except with respect to a pension advisory firm
                             or similar fiduciary) capital/statutory surplus
                             or shareholder's equity of $250,000,000; and (B)
                             is regularly engaged in the business of making or
                             owning commercial real estate loans or commercial
                             loans secured by a pledge of interests in a
                             mortgage borrower or owning and operating
                             commercial mortgage properties; or (ii) an entity
                             for which the borrower has obtained rating agency
                             confirmation that the pledge to such entity will
                             not, in and of itself, result in a downgrade,
                             withdrawal or qualification of the ratings
                             assigned to the certificates.
--------------------------------------------------------------------------------

Burbank Town Center          The Mortgage Loan documents permit: (i) transfers
                             of direct or indirect ownership interests in the
                             borrower to "Qualified Transferees" meeting
                             certain financial criteria and general
                             creditworthiness standards set forth in the Loan
                             Agreement. A "Qualified Transferee" shall mean any
                             person that: (i)(a) has a net worth, determined
                             under GAAP, as of a date no more than 6 months
                             prior to the date of the transfer of at least
                             $150,000,000, (b) has demonstrated expertise in
                             owning and managing properties similar in class
                             and operation to the Mortgaged Property and
                             totaling at least 2,000,000 square feet of gross
                             leasable area (exclusive of the Mortgaged
                             Property); and (c) otherwise does not result in a
                             downgrade, withdrawal or qualification of the
                             initial, or if higher, then current rating issued
                             in connection on the certificates; or (ii) (a)
                             does not result in a downgrade, withdrawal or
                             qualification of the initial, or if higher, then
                             current ratings issued on the certificates; and
                             (b) otherwise reasonably acceptable to the lender.

                             In addition, the lender's consent is not required
                             in connection with the purchase by Robert Flaxman
                             of one hundred percent (100%) of Jaime
                             Sohacheski's direct and indirect interests in the
                             borrower, provided that, among other conditions,
                             (i) no event of default has occurred and remain
                             uncured, (ii) the lender has have received from
                             the borrower not less than ten (10) days prior
                             written notice of the proposed transfer, (iii) the
                             lender has received information satisfactory to it
                             regarding Robert Flaxman's compliance with the
                             Patriot Act, and (iv)the  lender shall have
                             received written confirmation from the rating
                             agencies that such action shall not result in a
                             downgrade, withdrawal or qualification of the
                             initial, or if higher, then current ratings issued
                             on the certificates.
--------------------------------------------------------------------------------

Milford Landing Shopping     The Mortgage Loan documents permit transfers upon
Center                       the incapacity of a member, partner on shareholder
                             of certain equity holders.
--------------------------------------------------------------------------------

Exception to Representation 42
--------------------------------------------------------------------------------

        Mortgage Loan                              Exception
--------------------------------------------------------------------------------

Burbank Town Center           The borrower is not required to obtain and
                              maintain terrorism insurance in an amount greater
                              than the amount of terrorism insurance that is
                              available for an annual premium 2 times the amount
                              of the then annual property casualty premium. The
                              terrorism cap does not apply if (A) owners and/or
                              operators of retail properties in the same class
                              as the Mortgaged Property in Los Angeles County,
                              California are generally obtaining terrorism
                              insurance, (B) lenders financing such retail
                              properties in the same class as the Mortgaged
                              Property in Los Angeles County, California are
                              generally requiring terrorism insurance as a
                              condition of financing, or (C) the borrower, any
                              affiliates of the borrower, any transferee of the
                              borrower, or any of their affiliates, are
                              obtaining terrorism insurance on any other
                              properties in Los Angeles County, California which
                              any of the foregoing persons own or operate.
--------------------------------------------------------------------------------

Malcolm X Boulevard           The borrower is not required to obtain and
                              maintain terrorism insurance in an amount greater
                              than the amount of terrorism insurance that is
                              available for an annual premium 2 times the amount
                              of the annual premium for the all-risk coverage
                              then in effect. The terrorism cap does not apply
                              if (A) owners and/or operators of retail
                              properties in the same class as the Mortgaged
                              Property in New York, New York are generally
                              obtaining terrorism insurance, (B) lenders
                              financing such retail properties in the same class
                              as the Mortgaged Property in  New York, New York
                              are generally requiring terrorism insurance as a
                              condition of financing, or (C) the borrower, any
                              affiliates of the borrower, any transferee of the
                              borrower, or any of their affiliates, are
                              obtaining terrorism insurance on any other
                              properties in New York, New York which any of the
                              foregoing persons own or operate.
--------------------------------------------------------------------------------

Walney Business Center        The borrower is not required to obtain and
                              maintain terrorism insurance in an amount greater
                              than the amount of terrorism insurance that is
                              available for an annual premium 3 times the amount
                              of the annual premium for the all-risk coverage
                              then in effect. The terrorism cap does not apply
                              if (A) owners and/or operators of business centers
                              in the same class as the Mortgaged Property in
                              Virginia are generally obtaining terrorism
                              insurance, (B) lenders financing such business
                              centers in the same class as the Mortgaged
                              Property in Virginia are generally requiring
                              terrorism insurance as a condition of financing,
                              or (C) the borrower, any affiliates of the
                              borrower, any transferee of the borrower or any of
                              their affiliates, are obtaining terrorism
                              insurance on any other properties in Virginia
                              which any of the foregoing persons own or operate.
--------------------------------------------------------------------------------

3 Maryland Circle             The borrower is not required to obtain and
                              maintain terrorism insurance in an amount greater
                              than the amount of terrorism insurance that is
                              available for an annual premium 3 times the amount
                              of the annual premium for the all-risk coverage
                              then in effect. The terrorism cap does not apply
                              if (A) owners and/or operators of business centers
                              in the same class as the Mortgaged Property in
                              Pennsylvania, are generally obtaining terrorism
                              insurance, (B) lenders financing such business
                              centers in the same class as the Mortgaged
                              Property in  Pennsylvania are generally requiring
                              terrorism insurance as a condition of financing,
                              or (C) the borrower, any affiliates of the
                              borrower, any transferee of the borrower, or any
                              of their affiliates, are obtaining terrorism
                              insurance on any other properties in Pennsylvania
                              which any of the foregoing persons own or operate.

<PAGE>

                                    EXHIBIT D

                          FORM OF OFFICER'S CERTIFICATE

            I, [______], a duly appointed, qualified and acting [______] of
[___________], a [________] [______] (the "Company"), hereby certify on behalf
of the Company as follows:

            1. I have examined the Mortgage Loan Purchase Agreement, dated as of
September 1, 2006 (the "Agreement"), between the Company and J.P. Morgan Chase
Commercial Mortgage Securities Corp., and all of the representations and
warranties of the Company under the Agreement are true and correct in all
material respects on and as of the date hereof (or, in the case of any
particular representation or warranty set forth on Exhibit B to the Agreement,
as of such other date provided for in such representation or warranty) with the
same force and effect as if made on and as of the date hereof, subject to the
exceptions set forth in the Agreement (including Exhibit C thereto).

            2. The Company has complied with all the covenants and satisfied all
the conditions on its part to be performed or satisfied under the Agreement on
or prior to the date hereof and no event has occurred which, with notice or the
passage of time or both, would constitute a default under the Agreement.

            3. I have examined the information regarding the Mortgage Loans in
the Prospectus, dated September 22, 2006, as supplemented by the Prospectus
Supplement, dated September 22, 2006 (collectively, the "Prospectus"), relating
to the offering of the Class A-1, Class A-2, Class A-3A, Class A-3FL, Class
A-3B, Class A-4, Class A-SB, Class A-1A, Class A-J, Class X, Class B, Class C
and Class D Certificates, the Private Placement Memorandum, dated September 22,
2006 (the "Privately Offered Certificate Private Placement Memorandum"),
relating to the offering of the Class E, Class F, Class G, Class H, Class J,
Class K, Class L, Class M, Class N, Class P and Class NR Certificates, and the
Residual Private Placement Memorandum, dated September 22, 2006 (together with
the Privately Offered Certificate Private Placement Memorandum, the "Private
Placement Memoranda"), relating to the offering of the Class R and Class LR
Certificates, and nothing has come to my attention that would lead me to believe
that the Prospectus, as of the date of the Prospectus Supplement or as of the
date hereof, or the Private Placement Memoranda, as of the date of the Private
Placement Memoranda or as of the date hereof, included or includes any untrue
statement of a material fact relating to the Mortgage Loans or omitted or omits
to state therein a material fact necessary in order to make the statements
therein relating to the Mortgage Loans, in light of the circumstances under
which they were made, not misleading.

            Capitalized terms used herein without definition have the meanings
given them in the Agreement.

                  [SIGNATURE APPEARS ON THE FOLLOWING PAGE]

            IN WITNESS WHEREOF, I have signed my name this ___ day of September,
2006.

                                       By:____________________________________
                                          Name:
                                          Title:

<PAGE>

                                   SCHEDULE I

MORTGAGE LOANS FOR WHICH A LENDER'S ENVIRONMENTAL POLICY WAS OBTAINED IN LIEU
                       OF AN ENVIRONMENTAL SITE ASSESSMENT

Reference is made to the Representations and Warranties set forth in Exhibit B
attached hereto corresponding to the Paragraph number set forth below.

Paragraph 21(a) and (e):

                                      None.

<PAGE>

                                   SCHEDULE II

                       MORTGAGED PROPERTY FOR WHICH OTHER
                      ENVIRONMENTAL INSURANCE IS MAINTAINED

Reference is made to the Representations and Warranties set forth in Exhibit B
attached hereto corresponding to the Paragraph numbers set forth below:

                                      None.

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