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 August 1, 2007

                            Fixed Rate Mortgage Loans

                                Series 2007-LDP12

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            This Mortgage Loan Purchase Agreement (this "Agreement"), dated as
of August 1, 2007, 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 August 1, 2007 (the "Pooling and Servicing Agreement") among the
Purchaser, as depositor (the "Depositor"), Wells Fargo Bank, N.A., as master
servicer (the "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 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 $150,031.86, which amount represents the aggregate
amount of interest that would have accrued at the related Mortgage Rates on the
applicable Mortgage Loans commencing August 1, 2007 for those Mortgage Loans
that do not have a Due Date in September 2007. The Depositor will sell the Class
A-1, Class A-2, Class A-3, Class A-4, Class A-SB, Class A-1A, Class X, Class
A-M, Class A-J, Class B, Class C, Class D, Class E and Class F Certificates (the
"Offered Certificates") to the underwriters (the "Underwriters") specified in
the underwriting agreement, dated as of August 24, 2007 (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 G, Class H and Class J Certificates and a
portion of the Class K Certificates to JPMSI and/or UBS Securities LLC as
initial purchasers and sell the remaining portion of the Class K Certificates
and the Class L, Class M, Class N, Class P, Class Q, Class T and Class NR
Certificates through JPMSI, as placement agent pursuant to the certificate
purchase and placement agreement dated August 24, 2007 (the "Certificate
Purchase and Placement Agreement"), among the Depositor, JPMSI, for itself as
initial purchaser and on behalf of UBS Securities LLC, as initial purchaser, and
JPMSI as placement agent.

            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 (i) pay to the Seller or at
the Seller's direction in immediately available funds the sum of
$1,015,022,811.97 (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) and
(ii) transfer the Class X-PP1 Certificates to the Seller. 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 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 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 Master Servicer has exercised all
remedies available under the Mortgage Loan documents to collect such Transfer
Modification Costs from such Mortgagor, in which case the 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 Master Servicer, in order to assist and facilitate in the
transfer of the servicing of the Mortgage Loans to the Master Servicer,
including effectuating the transfer of any letters of credit with respect to any
Mortgage Loan to the Trustee (in care of the 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
Master Servicer), the Seller will cooperate with the reasonable requests of the
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 August 24,
2007 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 Schedule X and
Schedule 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 Banking 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 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 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 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, the interests of the Trustee therein or the
interests of 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 Master Servicer to determine if the
Crossed Loan Repurchase Criteria have been satisfied, so long as the scope and
cost of such Appraisal have 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 and Placement 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 the Term Sheet (as defined in the Indemnification Agreement), or
items similar to the Term Sheet, 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/ Emanuel Chrysoulakis
                                          ------------------------------------
                                          Name:  Emanuel Chrysoulakis
                                          Title: Vice President

                                       JPMORGAN CHASE BANK, N.A., as Seller

                                       By:   /s/ Emanuel Chrysoulakis
                                          ------------------------------------
                                          Name:  Emanuel Chrysoulakis
                                          Title: Vice President

<PAGE>

                                    EXHIBIT A

                             MORTGAGE LOAN SCHEDULE

                                JPMCC 2007-LDP12
                         Mortgage Loan Schedule (JPMCB)

<TABLE>
<CAPTION>
                    Originator/
                       Loan
    Loan #            Seller         Mortgagor Name
--------------------------------------------------------------------------------------------------------------------
<S>                  <C>          <C>
      2                JPMCB         Sunrise Mills (MLP) Limited Partnership, Sawgrass Mills Phase II
                                     Limited Partnership, Sawgrass Mills Phase III Limited Partnership
      4                JPMCB         HRHC Delaware, LLC
      5                JPMCB         Ten Penn Center Associates L.P.
      6                JPMCB         NHP Ohio, LLC and MLD Kentucky, LLC
     6.01              JPMCB
     6.02              JPMCB
     6.03              JPMCB
     6.04              JPMCB
     6.05              JPMCB
     6.06              JPMCB
     6.07              JPMCB
     6.08              JPMCB
      7                JPMCB         Parmenter Overlook III LP, LLLP
      9                JPMCB         Mall at Summit, LLC
      14               JPMCB         Liberty Plaza Limited Partnership
      16               JPMCB         Mall at Valle Vista, LLC
      20               JPMCB         O.T.R. Associates, A Limited Partnership
      28               JPMCB         Brickman DFC LLC, Brickman Durham II LLC
      31               JPMCB         The Shalom Group, LP
      32               JPMCB         TCA Cassford L.P.
      34               JPMCB         U.S. Reif Joliet Sc Fee, LLC
      35               JPMCB          Eleven 40 Associates, LLC
      36               JPMCB         Market Square Plaza I, LLC
      39               JPMCB         Penn Gardens Capital Partners Limited Liability Company
      42               JPMCB         Infinite Funding Company, LLC
      43               JPMCB         Balcones-Wilshire LLC
      46               JPMCB         Cleveland South Hospitality LLC
      48               JPMCB         Eleven 46 Associates, LLC
      50               JPMCB         Tallahassee Biscayne, LLC
      51               JPMCB         Kennerly 6138, LLP
      52               JPMCB         Woodwind Village Partners, Ltd.
      58               JPMCB         Barclay Holdings XIX, L.L.C.
      64               JPMCB         Planete Verts, Inc.
      66               JPMCB         Royal Living, Inc.
      68               JPMCB         Dorney Hospitality, Inc.
      69               JPMCB         Northern Tier Hospitality, L.L.C.
      70               JPMCB         Charlotte NC I Limited Partnership
      74               JPMCB         C.C. Villa Partners, Ltd.
      76               JPMCB         Life King Person, LLC
      77               JPMCB         Red Chief, LLC
      81               JPMCB         Oak Forest Apartment Investors, LLC
      82               JPMCB         Windsong Associates, Ltd.
      83               JPMCB         MFEIVB, LLC
      85               JPMCB         CIM/6611-6637 Hollywood, LLC
      86               JPMCB         F and S Hotels, L.L.C., RTI Hospitality Group, L.L.C.
      87               JPMCB         Blake Realty, LLC
      95               JPMCB         Dallas Fitness Investors #2, L.P.
     104               JPMCB         G.SIR, LLC
     105               JPMCB         UTF Grand Rapids LLC
     106               JPMCB         HI-LAD, Inc.
     107               JPMCB         G. K. Partners I, Ltd.
     109               JPMCB         National Cup Company
     112               JPMCB         Oakwood Apartment Investors, LLC
     113               JPMCB         Appfer Partners, Ltd.
     119               JPMCB         Arlington Harris Road Minis, Ltd.
     120               JPMCB         Townhomes Associates, LLC
     124               JPMCB         North Waterfront-Ohio, LLC
     126               JPMCB         Grinnell Investments, LLC, RMLP II Grinnell, LLC
     128               JPMCB         Burlington Place, LLC
     131               JPMCB         Homer Short and Mary Short
     137               JPMCB         2040 Babcock, Ltd.

<CAPTION>

                                                                                                     Zip
    Loan #     Property Address                                 City                     State       Code     County
------------------------------------------------------------------------------------------------------------------------------------
<S>           <C>                                              <C>                   <C>         <C>        <C>
      2        12801 West Sunrise Boulevard                     Sunrise                    FL        33323    Broward
      4        230 North Michigan Avenue                        Chicago                    IL        60601    Cook
      5        1801-1821 Market Street                          Philadelphia               PA        19103    Philadelphia
      6        Various                                          Various                 Various     Various   Various
     6.01      8160 Hamilton-Mason Road                         West Chester               OH        45069    Butler
     6.02      4400 Glen Este-Withamsville Road                 Cincinnati                 OH        45245    Clermont
     6.03      10111 Simonson Road                              Harrison                   OH        45030    Hamilton
     6.04      8001 Dayton-Springfield Road                     Fairborn                   OH        45324    Clark
     6.05      940 Highland Avenue                              Fort Thomas                KY        41075    Campbell
     6.06      630 Viox Drive                                   Erlanger                   KY        41018    Kenton
     6.07      960 Highland Avenue                              Fort Thomas                KY        41075    Campbell
     6.08      325 East Central Avenue                          Springboro                 OH        45066    Warren
      7        2859 Paces Ferry Road Southeast                  Atlanta                    GA        30339    Cobb
      9        3265 West Market Street                          Fairlawn                   OH        44333    Summit
      14       4501 Woodhaven Road                              Philadelphia               PA        19154    Philadelphia
      16       2020 South Expressway 83                         Harlingen                  TX        78552    Cameron
      20       1665 Oak Tree Road                               Edison                     NJ        08820    Middlesex
      28       615 Douglas Street and 5704 Fayetteville Road    Durham                     NC       Various   Durham
      31       444 Executive Center Boulevard                   El Paso                    TX        79902    El Paso
      32       1001, 1031, 1041, 1051, 1061 Old Cassatt Road    Berwyn                     PA        19312    Chester
      34       2700-2892 Plainfield Road                        Joliet                     IL        60435    Will
      35       1140 19th Street Northwest                       Washington                 DC        20036    District of Columbia
      36       7700-7782 Crittenden Street                      Philadelphia               PA        19118    Philadelphia
      39       3800 Woodridge Boulevard                         Fairfield                  OH        45014    Butler
      42       1450 Infinite Drive                              Louisville                 CO        80027    Boulder
      43       11150 Research Boulevard                         Austin                     TX        78759    Travis
      46       6200 Quarry Lane                                 Independence               OH        44131    Cuyahoga
      48       1146 19th Street North West                      Washington                 DC        20036    District of Columbia
      50       Southwest 137th Avenue                           Homestead                  FL        33033    Miami-Dade
      51       6138 Kennerly Road                               Jacksonville               FL        32216    Duval
      52       26001 Budde Road                                 Spring                     TX        77380    Montgomery
      58       20917, 20987, 21083, 21101, 21141                Maricopa                   AZ        85239    Pinal
               North John Wayne Parkway
      64       13600 North Freeway                              Fort Worth                 TX        76177    Tarrant
      66       4259 North Interstate 35                         Waco                       TX        76705    McLennan
      68       4325 Hamilton Boulevard                          Allentown                  PA        18103    Lehigh
      69       255 Spring Street                                Sayre                      PA        18840    Bradford
      70       1600 Village Brook Drive                         Charlotte                  NC        28210    Mecklenburg
      74       6433 South Staples                               Corpus Christi             TX        78413    Nueces
      76       4257 Interstate 35 North                         Lacy Lakeview              TX        76705    McLennan
      77       5518 West Market Street                          Greensboro                 NC        27409    Guilford
      81       300 Twin Oaks Drive                              Monroe                     MI        48162    Monroe
      82       2929 Hirschfield Road                            Spring                     TX        77373    Harris
      83       10488 South 136th Street                         Omaha                      NE        68138    Sarpy
      85       6611-6637 Hollywood Boulevard                    Los Angeles                CA        90028    Los Angeles
      86       3855 Interstate Highway 35 North                 San Antonio                TX        78219    Bexar
      87       446A Blake Street                                New Haven                  CT        06515    New Haven
      95       2600 Highway 121                                 Euless                     TX        76039    Tarrant
     104       105 West Interstate 20                           Marshall                   TX        75672    Harrison
     105       4701 East Paris Avenue Southeast                 Kentwood                   MI        49512    Kent
     106       102 Racer Drive                                  Cross Lanes                WV        25313    Kanawha
     107       5450 Timber Creek Place Drive                    Houston                    TX        77084    Harris
     109       237 McKee Road                                   Dover                      DE        19904    Kent
     112       1599 Twin Oaks Drive                             Toledo                     OH        43615    Lucas
     113       4500 Cypresswood Drive                           Spring                     TX        77379    Harris
     119       715 West Harris Road                             Arlington                  TX        76001    Tarrant
     120       6119 North Kenmore Avenue                        Chicago                    IL        60660    Cook
     124       5025 Monroe Street                               Toledo                     OH        43623    Lucas
     126       74 North Amherst Street                          Colorado Springs           CO        80911    El Paso
     128       1004 Farnam Street                               Omaha                      NE        68102    Douglas
     131       334 North Mayo Trail                             Paintsville                KY        41240    Johnson
     137       2040 Babcock Road                                San Antonio                TX        78229    Bexar

<CAPTION>

                                                                                                      Net
                                                                                                   Mortgage
               Property                                                                Interest    Interest    Original     Cutoff
    Loan #     Name                                        Size        Measure         Rate (%)      Rate       Balance    Balance
------------------------------------------------------------------------------------------------------------------------------------
<S>          <C>                                      <C>         <C>               <C>         <C>       <C>           <C>
      2        Sawgrass Mills Mall                       1991491     Square Feet      5.82000     5.79923   150,000,000  150,000,000
      4        Hard Rock Hotel - Chicago                   381          Rooms         6.28400     6.26323    69,500,000   69,500,000
      5        Ten Penn Center                           670857      Square Feet      6.43650     6.40573    69,000,000   69,000,000
      6        Carespring Portfolio                       1136          Beds          5.80350     5.78273    68,310,000   68,310,000
     6.01      Heritagespring Healthcare Center            144          Beds          5.80350                13,506,667   13,506,667
     6.02      Eastgate Healthcare Center                  189          Beds          5.80350                10,313,333   10,313,333
     6.03      ShawneeSpring Healthcare Center             140          Beds          5.80350                 8,186,667    8,186,667
     6.04      Dayspring Healthcare Center                 144          Beds          5.80350                 8,053,333    8,053,333
     6.05      The Barrington Place                        108          Beds          5.80350                 7,783,333    7,783,333
     6.06      VillaSpring Healthcare Center               140          Beds          5.80350                 7,473,333    7,473,333
     6.07      The Highlands Healthcare Center             140          Beds          5.80350                 7,103,333    7,103,333
     6.08      Hillspring Rehabilitation Center            131          Beds          5.80350                 5,890,000    5,890,000
      7        Overlook III                              438709      Square Feet      5.80000     5.77724    66,700,000   66,700,000
      9        Summit Mall                               529065      Square Feet      5.42450     5.40373    65,000,000   65,000,000
      14       Liberty Plaza                             371505      Square Feet      5.68000     5.65923    43,000,000   43,000,000
      16       Valle Vista Mall                          500421      Square Feet      5.35000     5.32923    40,000,000   40,000,000
      20       1665 Oak Tree Road                        189610      Square Feet      6.44800     6.42723    33,100,000   33,100,000
      28       Hock Plaza II                              98324      Square Feet      5.92500     5.90423    24,250,000   24,250,000
      31       Epicenter Office Community                354792      Square Feet      6.33750     6.31673    22,000,000   22,000,000
      32       Cassford Corporate Park                   131500      Square Feet      6.50400     6.48323    21,560,000   21,560,000
      34       Louis Joliet Pointe                       237734      Square Feet      6.37600     6.35523    20,810,000   20,810,000
      35       1140 19th Street Northwest                 65844      Square Feet      5.74850     5.72773    19,800,000   19,800,000
      36       Market Square                             113296      Square Feet      5.83050     5.80973    19,000,000   19,000,000
      39       Cobblestone Apartments                      292          Units         5.91500     5.89423    17,400,000   17,400,000
      42       1450 Infinite Drive                       154420      Square Feet      5.77900     5.70823    16,380,000   16,380,000
      43       Balcones Woods Shopping Center            111539      Square Feet      6.31950     6.29873    14,800,000   14,800,000
      46       DoubleTree - Cleveland                      193          Rooms         5.84300     5.82223    14,200,000   14,187,739
      48       1146 19th Street Northwest                 45422      Square Feet      5.64850     5.62773    13,350,000   13,350,000
      50       Home Depot - Homestead                    465656      Square Feet      5.73000     5.68923    13,200,000   13,200,000
      51       Kennerly Medical Office                    44374      Square Feet      6.12690     6.06613    12,700,000   12,700,000
      52       Woodwind Village                            200          Units         5.56000     5.53923    12,600,000   12,600,000
      58       Maricopa Marketplace                       38877      Square Feet      6.01800     5.94723    11,600,000   11,600,000
      64       Hampton Inn Alliance                        102          Rooms         6.39200     6.37123    10,100,000   10,100,000
      66       Hampton Inn - Waco                          119          Rooms         6.34200     6.32123     9,675,000    9,675,000
      68       Wingate - Allentown, PA                     105          Rooms         6.50150     6.48073     9,000,000    8,993,492
      69       Best Western Grand Victorian                100          Rooms         5.80300     5.78223     9,000,000    8,992,148
      70       The Villages                                224          Units         5.56000     5.53923     8,800,000    8,800,000
      74       The Veranda Apartments                      196          Units         5.56000     5.53923     8,080,000    8,080,000
      76       Fairfield Inn & Suites North Waco           109          Rooms         6.34200     6.32123     7,650,000    7,650,000
      77       Morehead Apartments                         204          Units         5.81400     5.79323     7,600,000    7,600,000
      81       Oak Forest                                  172          Units         5.84000     5.81923     7,280,000    7,280,000
      82       Windsong Village                            168          Units         5.56000     5.53923     7,256,000    7,256,000
      83       Schering Plough                           163120      Square Feet      5.92800     5.90723     7,100,000    7,100,000
      85       Eisen Hollywood                            27904      Square Feet      6.29250     6.27173     6,900,000    6,900,000
      86       Holiday Inn San Antonio                     180          Rooms         6.45250     6.43173     6,720,000    6,720,000
      87       Wintergreen Office Park                    51182      Square Feet      6.39550     6.37473     6,700,000    6,695,009
      95       LA Fitness - Euless Texas                  45000      Square Feet      6.69000     6.62923     6,000,000    5,995,888
     104       Fairfield Inn & Suites Marshall             84           Rooms         6.34200     6.32123     5,175,000    5,175,000
     105       Ranir Industrial Building                 152540      Square Feet      6.38950     6.36873     5,025,000    5,025,000
     106       Comfort Inn - Cross Lanes WV                112          Rooms         6.64400     6.62323     5,025,000    5,025,000
     107       St. Gregory's Beach Apartments              186          Units         5.56000     5.53923     4,960,000    4,960,000
     109       National Cup Building                      91339      Square Feet      6.50900     6.48823     4,550,000    4,541,555
     112       Oakwood Villas                              143          Units         5.84000     5.81923     4,320,000    4,320,000
     113       Applewood Village                           128          Units         5.56000     5.53923     4,290,000    4,290,000
     119       All Storage Self Storage Facility           528          Units         6.39600     6.37523     4,000,000    4,000,000
     120       Kenmore Apartments                          60           Units         5.64000     5.56923     3,900,000    3,888,695
     124       Petco                                      22009      Square Feet      6.45000     6.42923     3,525,000    3,522,414
     126       Grinnell Self Storage                       475          Units         6.50000     6.47923     3,325,000    3,325,000
     128       One Burlington Place                       38405      Square Feet      5.98000     5.95923     3,250,000    3,247,292
     131       KMart - Paintsville                        91266      Square Feet      6.44500     6.37423     2,950,000    2,950,000
     137       2040 Babcock Road                          31599      Square Feet      5.92000     5.84923     2,660,000    2,652,772

<CAPTION>

                                    Maturity/                    Monthly                                          ARD
                          Rem.         ARD    Amort.   Rem.       Debt      Servicing       Accrual      ARD      Step        Title
    Loan #      Term      Term        Date     Term   Amort.    Service     Fee Rate         Type       (Y/N)    Up (%)        Type
------------------------------------------------------------------------------------------------------------------------------------
<S>             <C>      <C>      <C>        <C>      <C>     <C>        <C>           <C>             <C>      <C>         <C>
      2           84        83     07/01/14      0       0      737,604     0.02000      Actual/360      No                   Fee
      4           60        60     08/01/12      0       0      369,003     0.02000      Actual/360      No                   Fee
      5           60        51     11/09/11      0       0      375,239     0.03000      Actual/360      No                   Fee
      6           84        81     05/01/14      0       0      334,953     0.02000      Actual/360      No                   Fee
     6.01         84        81     05/01/14      0       0                               Actual/360      No                   Fee
     6.02         84        81     05/01/14      0       0                               Actual/360      No                   Fee
     6.03         84        81     05/01/14      0       0                               Actual/360      No                   Fee
     6.04         84        81     05/01/14      0       0                               Actual/360      No                   Fee
     6.05         84        81     05/01/14      0       0                               Actual/360      No                   Fee
     6.06         84        81     05/01/14      0       0                               Actual/360      No                   Fee
     6.07         84        81     05/01/14      0       0                               Actual/360      No                   Fee
     6.08         84        81     05/01/14      0       0                               Actual/360      No                   Fee
      7           84        81     05/01/14      0       0      326,861     0.02199      Actual/360      No                   Fee
      9          120       118     06/10/17      0       0      297,908     0.02000      Actual/360      No                   Fee
      14         120       118     06/01/17      0       0      206,360     0.02000      Actual/360      No                   Fee
      16         120       117     05/10/17      0       0      180,810     0.02000      Actual/360      No                   Fee
      20         120       120     08/01/17      0       0      180,328     0.02000      Actual/360      No                   Fee
      28         120       120     08/01/17      0       0      121,397     0.02000      Actual/360      No                   Fee
      31         120       120     08/01/17     360     360     136,712     0.02000      Actual/360      No                   Fee
      32         120       120     08/01/17     360     360     136,331     0.02000      Actual/360      No                   Fee
      34         120       119     07/01/17      0       0      112,106     0.02000      Actual/360      No                   Fee
      35          60        58     06/01/12      0       0       96,168     0.02000      Actual/360      No                   Fee
      36         120       118     06/01/17      0       0       93,598     0.02000      Actual/360      No                   Fee
      39          60        58     06/01/12      0       0       86,959     0.02000      Actual/360      No                   Fee
      42          84        82     06/01/14      0       0       79,979     0.07000      Actual/360      No                   Fee
      43         120       120     08/01/17     360     360      91,796     0.02000      Actual/360      No                   Fee
      46         120       119     07/01/17     360     359      83,708     0.02000      Actual/360      No                   Fee
      48          60        58     06/01/12      0       0       63,712     0.02000      Actual/360      No                   Fee
      50         120       118     06/01/17      0       0       63,905     0.04000      Actual/360      No                   Fee
      51         120       120     08/01/17     360     360      77,182     0.06000      Actual/360      No                   Fee
      52         120       119     07/01/17     360     360      72,016     0.02000      Actual/360      No                   Fee
      58         120       118     06/01/17      0       0       58,982     0.07000      Actual/360      No                   Fee
      64         120       120     08/01/17     360     360      63,123     0.02000      Actual/360      No                   Fee
      66         240       240     09/01/27     240     240      71,237     0.02000      Actual/360      No                   Fee
      68          60        59     07/01/12     360     359      56,895     0.02000      Actual/360      No                   Fee
      69         120       119     07/01/17     360     359      52,825     0.02000      Actual/360      No                   Fee
      70         120       119     07/01/17     360     360      50,297     0.02000      Actual/360      No                   Fee
      74         120       119     07/01/17     360     360      46,182     0.02000      Actual/360      No                   Fee
      76         240       240     09/01/27     240     240      56,327     0.02000      Actual/360      No                   Fee
      77         120       118     06/01/17     360     360      44,661     0.02000      Actual/360      No                   Fee
      81         120       119     07/01/17     360     360      42,901     0.02000      Actual/360      No                   Fee
      82         120       119     07/01/17     360     360      41,472     0.02000      Actual/360      No                   Fee
      83         120       119     07/01/17     360     360      42,240     0.02000      Actual/360      No                   Fee
      85         120       120     08/01/17     360     360      42,675     0.02000      Actual/360      No                   Fee
      86         120       119     07/01/17     360     360      42,265     0.02000      Actual/360      No                   Fee
      87         120       119     07/01/17     360     359      41,889     0.02000      Actual/360      No                   Fee
      95         120       119     07/01/17     360     359      38,677     0.06000      Actual/360      No                   Fee
     104         240       240     09/01/27     240     240      38,104     0.02000      Actual/360      No                   Fee
     105         120       120     09/01/17     360     360      31,397     0.02000      Actual/360      No                   Fee
     106         120       120     08/01/17     360     360      32,239     0.02000      Actual/360      No                   Fee
     107         120       119     07/01/17     360     360      28,349     0.02000      Actual/360      No                   Fee
     109         240       239     07/01/27     240     239      33,948     0.02000      Actual/360      No                   Fee
     112         120       119     07/01/17     360     360      25,458     0.02000      Actual/360      No                   Fee
     113         120       119     07/01/17     360     360      24,520     0.02000      Actual/360      No                   Fee
     119         120       120     08/01/17     360     360      25,010     0.02000      Actual/360      No                   Fee
     120         120       117     05/01/17     360     357      22,488     0.07000      Actual/360      No                   Fee
     124         132       131     07/01/18     360     359      22,165     0.02000      Actual/360      No                Leasehold
     126         120       119     07/01/17     360     360      21,016     0.02000      Actual/360      No                   Fee
     128         120       119     07/01/17     360     359      19,444     0.02000      Actual/360      No                   Fee
     131         120       120     08/01/17     120     120      33,414     0.07000      Actual/360      No                   Fee
     137         120       117     05/01/17     360     357      15,811     0.07000      Actual/360      No                   Fee

<CAPTION>

                    Crossed                                                                                   Letter
    Loan #            Loan        Guarantor                                                                 of Credit
-------------------------------------------------------------------------------------------------------------------------
<S>                 <C>         <C>                                                                      <C>
      2                           Sunrise Mills (MLP) Limited Partnership, Sawgrass Mills                       No
                                  Phase II Limited Partnership, Sawgrass Mills Phase III
                                  Limited Partnership, Sawgrass Mills Phase IV, LLC
                                  and The Mills Limited Partnership
      4                           Becker Ventures, L.L.C.                                                       No
      5                           Ten Penn Center Associates L.P.                                          6,000,000.0
      6                           MS NHP Fund, LLC                                                              No
     6.01
     6.02
     6.03
     6.04
     6.05
     6.06
     6.07
     6.08
      7                           Parmenter Realty Fund III, Inc.                                               No
      9                           Mall at Summit, LLC                                                           No
      14                          SPG ML Holdings, LLC and SPG-FCM Holdings I, LLC                              No
      16                          Simon Property Group, L.P.                                                    No
      20                          O.T.R. Associates, A Limited Partnership                                      No
      28                          Brickman Real Estate Fund II, L.P.                                            No
      31                          Tanny Berg, George Salom                                                      No
      32                          Olin Belsinger                                                                No
      34                          U.S. Real Estate Investment Fund, LLC                                         No
      35                          ELEVEN 40 ASSOCIATES, LLC                                                     No
      36                          Sam Shalem, Irving Pergament                                                  No
      39                          Lawrence S. Conner                                                            No
      42                          Infinite Funding Company, LLC                                                 No
      43                          Balcones-Wilshire LLC                                                         No
      46                          Satish K. Duggal                                                         1,382,000.0
      48                          Eleven 46 Associates, LLC                                                     No
      50                          Jose Garcia, Elizabeth Garcia, Jorge Guerra, Rosa Guerra                      No
      51                          Georges Bahri; Fady Bahri                                                     No
      52                          Alan E. Ferris, Madeleine S. Ferris                                           No
      58                          Barclay Holdings XIX, L.L.C.                                                  No
      64                          Phil Cascio                                                                   No
      66                          Hasmukhbhai L. Patel                                                          No
      68                          Kailash R. Joshi, Trusha K. Joshi, Jayesh C. Modi                             No
      69                          Satish K. Duggal                                                              No
      70                          Alan E. Ferris, Madeleine S. Ferris                                           No
      74                          Alan E. Ferris, Madeleine S. Ferris                                           No
      76                          Bipinchandra L. Patel, Jagdish Patel                                          No
      77                          Roy Korins; Stephen Swiatkiewicz; Bernard McElhone                        250,000.0
      81               B          Todd Rosenzweig, Clifford Dovitz, Marc Rosenzweig,                            No
                                  Jack Rosenzweig
      82                          Alan E. Ferris, Madeleine S. Ferris                                           No
      83                          Jon M. Meyers, Bruce D. Meyers                                                No
      85                          CIM Group, LLC                                                                No
      86                          Abdul Satter Abbasi, Robert Abbasi                                            No
      87                          Donald R. Perry, III                                                          No
      95                          Carl J. Greenwood                                                             No
     104                          Hasmukhbhai L. Patel                                                          No
     105                          The Gottlieb Marital Trust                                                    No
     106                          Gregory B. Hicks                                                              No
     107                          Alan E. Ferris, Madeleine S. Ferris                                           No
     109                          Fred I. Robinson                                                              No
     112               B          Todd Rosenzweig, Clifford Dovitz, Marc Rosenzweig,                        600,000.0
                                  Jack Rosenzweig
     113                          Alan E. Ferris, Madeleine S. Ferris                                           No
     119                          Charles Michael Long                                                          No
     120                          Jeffrey C. Rappin                                                             No
     124                          William Meyer,  Lucero Meyer                                                  No
     126                          Stephen R. Kaplan; Patrick J. Cannon; George H.                               No
                                  Kramer; Peter Alan Gordon
     128                          America First Real Estate Group, LLC                                          No
     131                          Homer Short, Mary Short                                                       No
     137                          Richard Thum                                                              200,000.0

<CAPTION>

                                                                UPFRONT ESCROW
              ----------------------------------------------------------------------------------------------------------------------
              Upfront        Upfront           Upfront           Upfront           Upfront                           Upfront
               CapEx          Eng.             Envir.             TI/LC            RE Tax        Upfront Ins.         Other
    Loan #    Reserve        Reserve           Reserve           Reserve           Reserve          Reserve          Reserve
------------------------------------------------------------------------------------------------------------------------------------
<S>            <C>         <C>                    <C>         <C>                 <C>              <C>              <C>
      2         0.00                 0.00              0.00       0.00                     0.00            0.00               0.00
      4         0.00         2,121,000.00              0.00       0.00               469,151.74      182,110.50       1,233,333.34
      5         0.00                 0.00              0.00       0.00             1,145,941.33            0.00               0.00
      6         0.00                 0.00              0.00       0.00                     0.00            0.00               0.00
     6.01
     6.02
     6.03
     6.04
     6.05
     6.06
     6.07
     6.08
      7         0.00           546,000.00              0.00   4,054,000.00           639,095.68       23,874.75       1,525,290.00
      9         0.00                 0.00              0.00       0.00                     0.00            0.00               0.00
      14        0.00                 0.00              0.00       0.00                     0.00            0.00               0.00
      16        0.00                 0.00              0.00       0.00                     0.00            0.00               0.00
      20        0.00                 0.00              0.00       0.00                62,344.06       76,855.17               0.00
      28        0.00                 0.00              0.00       0.00                27,364.65            0.00          62,232.00
      31     141,916.80              0.00              0.00    358,083.20            407,467.26       17,940.38               0.00
      32        0.00                 0.00              0.00       0.00                     0.00            0.00               0.00
      34        0.00           167,688.00              0.00       0.00               112,308.11        9,024.50               0.00
      35        0.00            13,500.00              0.00       0.00               130,352.68       11,526.67               0.00
      36        0.00             7,737.50              0.00       0.00                80,400.00        8,556.00          98,336.00
      39        0.00            20,000.00              0.00       0.00               100,000.00       11,409.73               0.00
      42        0.00                 0.00              0.00       0.00                     0.00            0.00               0.00
      43        0.00                 0.00              0.00     21,812.00            142,155.42       10,341.25               0.00
      46        0.00            12,500.00              0.00       0.00                41,156.17       52,831.67               0.00
      48        0.00                 0.00              0.00       0.00               128,564.17        8,011.67               0.00
      50        0.00                 0.00              0.00       0.00                30,424.10            0.00         700,000.00
      51        0.00                 0.00              0.00       0.00                 6,620.22       28,045.63         222,500.00
      52        0.00                 0.00              0.00       0.00               141,535.99       32,968.32               0.00
      58        0.00                 0.00              0.00    150,000.00             39,957.30            0.00               0.00
      64        0.00                 0.00              0.00       0.00               105,613.15        6,660.83               0.00
      66        0.00           178,546.00              0.00       0.00                69,686.00        7,905.33               0.00
      68        0.00             5,000.00              0.00       0.00                78,806.73        9,248.75               0.00
      69        0.00           148,125.00              0.00       0.00                37,933.35       37,595.00               0.00
      70        0.00                 0.00              0.00       0.00                80,972.50       32,353.60               0.00
      74        0.00                 0.00              0.00       0.00                75,615.75       50,642.82               0.00
      76        0.00                 0.00              0.00       0.00                78,296.67       20,014.38               0.00
      77        0.00                 0.00              0.00       0.00                59,619.01        9,030.75               0.00
      81        0.00           538,576.25              0.00       0.00                17,504.37       11,436.55               0.00
      82        0.00                 0.00              0.00       0.00                76,695.50       32,353.60               0.00
      83        0.00                 0.00              0.00       0.00                10,329.33        5,924.50               0.00
      85        0.00            36,677.50              0.00       0.00                18,868.98       14,482.16         328,900.00
      86        0.00                 0.00              0.00       0.00                28,948.71       10,983.23         950,000.00
      87        0.00                 0.00              0.00       0.00                 4,389.42        5,116.50         176,941.00
      95        0.00                 0.00              0.00       0.00                     0.00            0.00               0.00
     104        0.00                 0.00              0.00       0.00                85,991.03       23,484.79               0.00
     105        0.00                 0.00              0.00       0.00                     0.00            0.00               0.00
     106        0.00                 0.00              0.00       0.00                18,132.17       22,950.50               0.00
     107        0.00                 0.00              0.00       0.00               113,750.00       26,425.31         750,000.00
     109        0.00                 0.00              0.00       0.00                     0.00            0.00               0.00
     112        0.00           404,191.25              0.00       0.00                14,339.61        8,709.33           2,875.00
     113        0.00                 0.00              0.00       0.00                72,765.00       18,646.97         425,000.00
     119        0.00                 0.00              0.00       0.00                41,135.34        1,515.83               0.00
     120        0.00                 0.00              0.00       0.00                25,818.64       16,229.58               0.00
     124        0.00                 0.00              0.00       0.00                87,000.00          560.16               0.00
     126     17,180.00               0.00              0.00       0.00                14,976.71        1,262.25               0.00
     128        0.00            80,000.00              0.00       0.00                     0.00       20,364.17         200,000.00
     131        0.00                 0.00              0.00       0.00                     0.00            0.00               0.00
     137        0.00                 0.00              0.00       0.00                24,241.12        3,192.67               0.00

<CAPTION>

                                                                       MONTHLY ESCROW
                     ---------------------------------------------------------------------------------------------------------------
                                   Monthly       Monthly         Monthly          Monthly                                    Monthly
                                     Capex        Envir.          TI/LC            RE Tax             Monthly Ins.            Other
    Loan #                         Reserve       Reserve         Reserve          Reserve               Reserve              Reserve
------------------------------------------------------------------------------------------------------------------------------------
<S>                            <C>              <C>            <C>              <C>                   <C>                 <C>
      2                               0.00         0.00              0.00             0.00                   0.00               0.00
      4                          102083.33         0.00              0.00         78191.96               20234.50           41666.67
      5                            5565.25         0.00          44521.66        114594.13                   0.00               0.00
      6                               0.00         0.00              0.00             0.00                   0.00               0.00
     6.01
     6.02
     6.03
     6.04
     6.05
     6.06
     6.07
     6.08
      7                            5483.83         0.00              0.00         71010.63                7958.25               0.00
      9                               0.00         0.00              0.00             0.00                   0.00               0.00
      14                              0.00         0.00              0.00             0.00                   0.00               0.00
      16                              0.00         0.00              0.00             0.00                   0.00               0.00
      20                           2374.83         0.00              0.00         62344.06                6986.83               0.00
      28                            819.36         0.00              0.00          3040.52                   0.00               0.00
      31                              0.00         0.00              0.00         50933.41                3986.75               0.00
      32                              0.00         0.00              0.00             0.00                   0.00               0.00
      34                              0.00         0.00              0.00         22461.62                4512.25               0.00
      35                              0.00         0.00              0.00         26070.54                1152.67               0.00
      36                            944.31         0.00           1888.62         13400.00                4278.00               0.00
      39                           5475.00         0.00              0.00         20000.00                1901.62               0.00
      42                              0.00         0.00              0.00             0.00                   0.00               0.00
      43                            915.10         0.00              0.00         20307.92                3447.08               0.00
      46                          25279.58         0.00              0.00         20578.09                5283.17               0.00
      48                              0.00         0.00              0.00         25712.83                 801.17               0.00
      50                              0.00         0.00              0.00             0.00                   0.00               0.00
      51                              0.00         0.00            925.93           945.75                2438.75               0.00
      52                           3333.00         0.00              0.00         17692.00                4709.76               0.00
      58                              0.00         0.00              0.00         13319.10                   0.00               0.00
      64                           8753.33         0.00              0.00         11734.79                3330.41               0.00
      66                          11251.67         0.00              0.00          8710.75                2258.67               0.00
      68                           8026.18         0.00              0.00          9850.84                3082.92               0.00
      69                          11636.25         0.00              0.00          7586.67                3759.50               0.00
      70                           3733.00         0.00              0.00         11567.50                4621.94               0.00
      74                           3267.00         0.00              0.00         10802.25                7234.69               0.00
      76                           8871.83         0.00              0.00          9787.08                2668.58               0.00
      77                           3519.00         0.00              0.00          8517.00                3010.25               0.00
      81                           3793.60         0.00              0.00         17504.37                2859.14               0.00
      82                           2800.00         0.00              0.00         10956.50                4621.94               0.00
      83                            671.33         0.00              0.00         10329.33                 987.42               0.00
      85                            613.99         0.00           2305.33          6289.66                6521.89               0.00
      86                          12993.00         0.00              0.00          9330.45                5491.61               0.00
      87                            864.00         0.00              0.00          2194.71                1705.50               0.00
      95                              0.00         0.00              0.00             0.00                   0.00               0.00
     104                           6917.75         0.00              0.00         10748.88                2472.08               0.00
     105                              0.00         0.00              0.00             0.00                   0.00               0.00
     106                           7330.45         0.00              0.00          2266.52                5737.63               0.00
     107                           3100.00         0.00              0.00         16250.00                3775.04               0.00
     109                              0.00         0.00              0.00             0.00                   0.00               0.00
     112                           3172.46         0.00              0.00         14339.61                2177.33               0.00
     113                           2133.00         0.00              0.00         10395.00                2663.85               0.00
     119                            438.33         0.00              0.00          4570.59                 757.92               0.00
     120                           1300.00         0.00              0.00          6454.66                1475.42               0.00
     124                            366.82         0.00            917.04             0.00                 280.08               0.00
     126                            715.83         0.00              0.00          4992.24                 420.75               0.00
     128                            480.06         0.00           1920.25          2564.93                2036.42               0.00
     131                           2495.95         0.00              0.00             0.00                   0.00               0.00
     137                            395.00         0.00              0.00          4848.22                 399.08               0.00

<CAPTION>

                                                                                                                        Remaining
                                                                                    Interest               Final      Amortization
                     Grace      Lockbox            Property         Defeasance       Accrual      Loan    Maturity       Term for
    Loan #          Period      In-place             Type            Permitted       Period      Group      Date      Balloon Loans
------------------------------------------------------------------------------------------------------------------------------------
<S>               <C>          <C>             <C>                  <C>            <C>            <C>     <C>       <C>
      2                5          Yes                Retail              Yes        Actual/360      1
      4                5          No                  Hotel              Yes        Actual/360      1
      5                0          Yes                Office              Yes        Actual/360      1
      6               10          Yes            Senior Housing          Yes        Actual/360      1
     6.01             10                         Senior Housing                     Actual/360      1
     6.02             10                         Senior Housing                     Actual/360      1
     6.03             10                         Senior Housing                     Actual/360      1
     6.04             10                         Senior Housing                     Actual/360      1
     6.05             10                         Senior Housing                     Actual/360      1
     6.06             10                         Senior Housing                     Actual/360      1
     6.07             10                         Senior Housing                     Actual/360      1
     6.08             10                         Senior Housing                     Actual/360      1
      7                5          Yes                Office              No         Actual/360      1
      9                0          Yes                Retail              Yes        Actual/360      1
      14               5          Yes                Retail              Yes        Actual/360      1
      16               0          Yes                Retail              Yes        Actual/360      1
      20               5          No                 Retail              Yes        Actual/360      1
      28              15          No                 Office              Yes        Actual/360      1
      31              10          No                 Office              Yes        Actual/360      1                       360
      32               7          Yes                Office              Yes        Actual/360      1                       360
      34               7          No                 Retail              Yes        Actual/360      1
      35               7          No                 Office              Yes        Actual/360      1
      36               7          No                 Retail              Yes        Actual/360      1
      39               7          No               Multifamily           Yes        Actual/360      2
      42               6          Yes              Industrial            Yes        Actual/360      1
      43               7          No                 Retail              Yes        Actual/360      1                       360
      46               7          No                  Hotel              Yes        Actual/360      1                       360
      48               7          No                 Office              Yes        Actual/360      1
      50               7          Yes                 Land               Yes        Actual/360      1
      51               7          No                 Office              Yes        Actual/360      1                       360
      52               7          No               Multifamily           Yes        Actual/360      2                       360
      58               5          No                 Retail              No         Actual/360      1
      64               7         No                   Hotel              Yes        Actual/360      1                       360
      66               7          No                  Hotel              Yes        Actual/360      1                       240
      68               7          No                  Hotel              Yes        Actual/360      1                       360
      69               7          No                  Hotel              Yes        Actual/360      1                       360
      70               7          No               Multifamily           Yes        Actual/360      2                       360
      74               7          No               Multifamily           Yes        Actual/360      2                       360
      76               7          No                  Hotel              Yes        Actual/360      1                       240
      77              10          No               Multifamily           Yes        Actual/360      2                       360
      81              10          No               Multifamily           Yes        Actual/360      2                       360
      82               7          No               Multifamily           Yes        Actual/360      2                       360
      83               7          Yes              Industrial            No         Actual/360      1                       360
      85               7          No                 Retail              Yes        Actual/360      1                       360
      86               7          No                  Hotel              Yes        Actual/360      1                       360
      87               7          No                 Office              Yes        Actual/360      1                       360
      95               7          Yes                Retail              No         Actual/360      1                       360
     104               7          No                  Hotel              Yes        Actual/360      1                       240
     105               7          No               Industrial            Yes        Actual/360      1                       360
     106               7          No                  Hotel              Yes        Actual/360      1                       360
     107               7          No               Multifamily           Yes        Actual/360      2                       360
     109               7          No               Industrial            Yes        Actual/360      1                       240
     112              10          No               Multifamily           Yes        Actual/360      2                       360
     113               7          No               Multifamily           Yes        Actual/360      2                       360
     119               7          No              Self Storage           Yes        Actual/360      1                       360
     120               7          No               Multifamily           Yes        Actual/360      2                       360
     124               7          Yes                Retail              Yes        Actual/360      1                       360
     126               7          No              Self Storage           No         Actual/360      1                       360
     128               7          No                 Office              Yes        Actual/360      1                       360
     131               7          No                 Retail              Yes        Actual/360      1                       120
     137               5          No                 Office              No         Actual/360      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) Except with respect to repairs estimated to cost less than
$5,000 in the aggregate, 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) Each Mortgage Loan complied at origination, in all material
respects, with all of the terms, conditions and requirements of the Seller, or
if the Seller is not the originator, then, to the knowledge of the Seller, the
originator's or the Seller's, underwriting standards applicable to such Mortgage
Loan 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 not less
than 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) In the event of casualty or destruction of the Mortgaged
Property, any non-conformity with applicable zoning laws as of the origination
date will not prohibit the Mortgaged Property from being restored or repaired in
all material respects, to the use or structure at the time of such casualty,
except for restrictions on its use or rebuildability for which (i) law and
ordinance insurance coverage has been obtained in amounts consistent with the
standards utilized by the Seller or (ii) an ALTA lender's title insurance policy
or the equivalent as adopted in the applicable jurisdiction, insuring against
such non-conformity.

            (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.

            (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.

            (44) Each Mortgaged Property is, and is required pursuant to the
related Mortgage to be, insured by (a) a fire and extended perils insurance
policy providing coverage against loss or damage sustained by reason of fire,
lightning, windstorm, hail, explosion, riot, riot attending a strike, civil
commotion, aircraft, vehicles and smoke, and, (b) to the extent required as of
the date of origination by the originator of such Mortgage Loan consistent with
its capital markets conduit lending practices, against other risks insured
against by persons operating like properties in the locality of the Mortgaged
Property, in each case in an amount not less than the lesser of the principal
balance of the related Mortgage Loan and the replacement cost of the
improvements located at the Mortgaged Property, and not less than the amount
necessary to avoid the operation of any co-insurance provisions with respect to
the Mortgaged Property, and the policy contains no provisions for a deduction
for depreciation.

            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 A - Ground Leases

--------------------------------------------------------------------------------
Loan No. 124                   Petco                   Leasehold
--------------------------------------------------------------------------------

<PAGE>

                                    EXHIBIT C

                               JPMCC 2007 - LDP12

                          Exceptions to Representations

Representation #(4)

<TABLE>
<CAPTION>
----------------- ------------------------------- --------------------------------------------------
  Loan Number               Loan Name                         Description of Exception
----------------- ------------------------------- --------------------------------------------------
<S>               <C>                             <C>
       6          Carespring Portfolio            The Mortgaged Property secures the Mortgage Loan
                                                  (consisting of a Fixed Rate A-2 Note and a Fixed
                                                  Rate A-3 Note) and a Fixed Rate A-1 Note (which
                                                  is pari passu with the Mortgage Loan and is not
                                                  included in the trust fund)
----------------- ------------------------------- --------------------------------------------------
       5          Ten Penn Center                 The Mortgaged Property secures the Mortgage Loan
                                                  (consisting of a Fixed Rate A Note and Fixed
                                                  Rate C Note) and a Floating Rate B Note (which
                                                  not included in the trust fund)
----------------- ------------------------------- --------------------------------------------------
       2          Sawgrass Mills Mall             The Mortgaged Property secures (A) the Mortgage
                                                  Loan consisting of a Fixed Rate A-1 (Phase I)
                                                  Note, Fixed Rate A-1 (Phase II) Note and Fixed
                                                  Rate A-1 (Phase III) Note] and (B) a Fixed Rate
                                                  A-2 (Phase I) Note, Fixed Rate A-2 (Phase II)
                                                  Note, Fixed Rate A-2 (Phase III) Note, Fixed
                                                  Rate A-3 (Phase I) Note, Fixed Rate A-3 (Phase
                                                  II) Note, Fixed Rate A-3 (Phase III) Note, Fixed
                                                  Rate A-4 (Phase I) Note, Fixed Rate A-4 (Phase
                                                  II) Note, Fixed Rate A-4 (Phase III) Note, Fixed
                                                  Rate A-5 (Phase I) Note, Fixed Rate A-5 (Phase
                                                  II) Note and Fixed Rate A-5 (Phase III) Note
                                                  (each of which is pari passu with the Mortgage
                                                  Loan and is not included in the trust fund) and
                                                  (C) a Fixed Rate B-1 (Phase I) Note, Fixed Rate
                                                  B-1 (Phase II) Note, Fixed Rate B-1 (Phase III)
                                                  Note, Fixed Rate B-2 (Phase I) Note, Fixed Rate
                                                  B-2 (Phase II) Note, Fixed Rate B-2 (Phase III)
                                                  Note, Fixed Rate B-3 (Phase I) Note, Fixed Rate
                                                  B-3 (Phase II) Note and Fixed Rate B-3 (Phase
                                                  III) Note (each of which is not included in the
                                                  trust fund).
----------------- ------------------------------- --------------------------------------------------
       32         Cassford Corporate Park         The Mortgaged Property secures the Mortgage Loan
                                                  and a B-Note held by CBA Mezzanine Capital
                                                  Finance, LLC.
----------------- ------------------------------- --------------------------------------------------
</TABLE>

Representation #(5)

<TABLE>
<CAPTION>
----------------- ------------------------------- --------------------------------------------------
  Loan Number               Loan Name                         Description of Exception
----------------- ------------------------------- --------------------------------------------------
<S>               <C>                             <C>
      131         Kmart - Paintsville             The Mortgagor is comprised of individuals and
                                                  not an entity.
----------------- ------------------------------- --------------------------------------------------
</TABLE>

Representation #(6)

<TABLE>
<CAPTION>
----------------- ------------------------------- --------------------------------------------------
  Loan Number               Loan Name                         Description of Exception
----------------- ------------------------------- --------------------------------------------------
<S>               <C>                             <C>
       42         1450 Infinite Drive             The Mortgage Loan is structured to comply with
                                                  Shar'ia law.  As part of that structure, the
                                                  Mortgagor has master leased the Mortgaged
                                                  Property to an entity controlled by Islamic
                                                  investors.  The master lessee subleases the
                                                  property to the ultimate tenants of the
                                                  Mortgaged Property.  The master lease is
                                                  subordinate to the Mortgage Loan.
----------------- ------------------------------- --------------------------------------------------
       6          Carespring Portfolio            The Mortgaged Property secures the Mortgage Loan
                                                  (consisting of a Fixed Rate A-2 Note and a Fixed
                                                  Rate A-3 Note) and a Fixed Rate A-1 Note (which
                                                  is pari passu with the Mortgage Loan and is not
                                                  included in the trust fund).
----------------- ------------------------------- --------------------------------------------------
       2          Sawgrass Mills Mall             The Mortgaged Property secures (A) the Mortgage
                                                  Loan consisting of a Fixed Rate A-1 (Phase I)
                                                  Note, Fixed Rate A-1 (Phase II) Note and Fixed
                                                  Rate A-1 (Phase III) Note] and (B) a Fixed Rate
                                                  A-2 (Phase I) Note, Fixed Rate A-2 (Phase II)
                                                  Note, Fixed Rate A-2 (Phase III) Note, Fixed
                                                  Rate A-3 (Phase I) Note, Fixed Rate A-3 (Phase
                                                  II) Note, Fixed Rate A-3 (Phase III) Note, Fixed
                                                  Rate A-4 (Phase I) Note, Fixed Rate A-4 (Phase
                                                  II) Note, Fixed Rate A-4 (Phase III) Note, Fixed
                                                  Rate A-5 (Phase I) Note, Fixed Rate A-5 (Phase
                                                  II) Note and Fixed Rate A-5 (Phase III) Note
                                                  (each of which is pari passu with the Mortgage
                                                  Loan and is not included in the trust fund) and
                                                  (C) a Fixed Rate B-1 (Phase I) Note, Fixed Rate
                                                  B-1 (Phase II) Note, Fixed Rate B-1 (Phase III)
                                                  Note, Fixed Rate B-2 (Phase I) Note, Fixed Rate
                                                  B-2 (Phase II) Note, Fixed Rate B-2 (Phase III)
                                                  Note, Fixed Rate B-3 (Phase I) Note, Fixed Rate
                                                  B-3 (Phase II) Note and Fixed Rate B-3 (Phase
                                                  III) Note (each of which is not included in the
                                                  trust fund).
----------------- ------------------------------- --------------------------------------------------
       4          Hard Rock Hotel - Chicago       The Mortgage Loan is structured with a master
                                                  lease to take advantage of historic tax
                                                  credits.  As part of that structure, the
                                                  Mortgagor has master leased the Mortgaged
                                                  Property to an affiliate entity.  The master
                                                  lessee subleases the property to the ultimate
                                                  tenant of the Mortgaged Property.  The master
                                                  lease is subordinate to the Mortgage Loan.
----------------- ------------------------------- --------------------------------------------------
</TABLE>

Representation #(10(a))

<TABLE>
<CAPTION>
----------------- ------------------------------- --------------------------------------------------
  Loan Number               Loan Name                         Description of Exception
----------------- ------------------------------- --------------------------------------------------
<S>               <C>                             <C>
       70         The Villages                    There is no individual or entity other than the
                                                  Mortgagor who is liable for the environmental
                                                  non-recourse carveouts.

                                                  The environmental indemnity contains a 0 year
                                                  sunset provision.
----------------- ------------------------------- --------------------------------------------------
       74         The Veranda Apartments          There is no individual or entity other than the
                                                  Mortgagor who is liable for the environmental
                                                  non-recourse carveouts.

                                                  The environmental indemnity contains a 0 year
                                                  sunset provision.
----------------- ------------------------------- --------------------------------------------------
      113         Applewood Village               There is no individual or entity other than the
                                                  Mortgagor who is liable for the environmental
                                                  non-recourse carveouts.

                                                  The environmental indemnity contains a 0 year
                                                  sunset provision.
----------------- ------------------------------- --------------------------------------------------
       52         Woodwind Village                There is no individual or entity other than the
                                                  Mortgagor who is liable for the environmental
                                                  non-recourse carveouts.

                                                  The environmental indemnity contains a 0 year
                                                  sunset provision.
----------------- ------------------------------- --------------------------------------------------
      107         St. Gregory's Beach Apartments  There is no individual or entity other than the
                                                  Mortgagor who is liable for the environmental
                                                  non-recourse carveouts.

                                                  The environmental indemnity contains a 0 year
                                                  sunset provision.
----------------- ------------------------------- --------------------------------------------------
       82         Windsong Village                There is no individual or entity other than the
                                                  Mortgagor who is liable for the environmental
                                                  non-recourse carveouts.

                                                  The environmental indemnity contains a 0 year
                                                  sunset provision.
----------------- ------------------------------- --------------------------------------------------
       42         1450 Infinite Drive             There is no individual or entity other than the
                                                  Mortgagor who is liable for the non-recourse
                                                  carveouts.
----------------- ------------------------------- --------------------------------------------------
       35         1140 19th Street Northwest      There is no individual or entity other than the
                                                  Mortgagor who is liable for the non-recourse
                                                  carveouts.
----------------- ------------------------------- --------------------------------------------------
       48         1146 19th Street Northwest      There is no individual or entity other than the
                                                  Mortgagor who is liable for the non-recourse
                                                  carveouts.
----------------- ------------------------------- --------------------------------------------------
       58         Maricopa Marketplace            There is no individual or entity other than the
                                                  Mortgagor who is liable for the non-recourse
                                                  carveouts.
----------------- ------------------------------- --------------------------------------------------
       5          Ten Penn Center                 There is no individual or entity other than the
                                                  Mortgagor who is liable for the non-recourse
                                                  carveouts.
----------------- ------------------------------- --------------------------------------------------
       2          Sawgrass Mills Mall             There is no individual or entity other than the
                                                  Mortgagor who is liable for the non-recourse
                                                  carveouts.

                                                  The non-recourse carveout does not cover "actual
                                                  waste".
----------------- ------------------------------- --------------------------------------------------
       9          Summit Mall                     There is no individual or entity other than the
                                                  Mortgagor who is liable for the non-recourse
                                                  carveouts.

                                                  The non-recourse carveout does not cover "actual
                                                  waste".
----------------- ------------------------------- --------------------------------------------------
       16         Valle Vista Mall                There is no individual or entity other than the
                                                  Mortgagor who is liable for the non-recourse
                                                  carveouts.

                                                  The non-recourse carveout does not cover "actual
                                                  waste".
----------------- ------------------------------- --------------------------------------------------
       14         Liberty Plaza                   There is no individual or entity other than the
                                                  Mortgagor who is liable for the non-recourse
                                                  carveouts.

                                                  The non-recourse carveout does not cover "actual
                                                  waste".
----------------- ------------------------------- --------------------------------------------------
       20         1665 Oak Tree Road              There is no individual or entity other than the
                                                  Mortgagor who is liable for the non-recourse
                                                  carveouts except for any breach of the
                                                  environmental covenants contained in the related
                                                  Mortgage Loan documents.
----------------- ------------------------------- --------------------------------------------------
      131         Kmart - Paintsville             There is no individual or entity other than the
                                                  Mortgagor who is liable for the non-recourse
                                                  carveouts.
----------------- ------------------------------- --------------------------------------------------
       4          Hard Rock Hotel - Chicago       The environmental indemnity contains a 3 year
                                                  sunset provision.
----------------- ------------------------------- --------------------------------------------------
       43         Balcones Woods Shopping Center  There is no individual or entity other than the
                                                  Mortgagor who is liable for the non-recourse
                                                  carveouts.
----------------- ------------------------------- --------------------------------------------------
</TABLE>

Representation #(10(d))

<TABLE>
<CAPTION>
----------------- ------------------------------- --------------------------------------------------
  Loan Number               Loan Name                         Description of Exception
----------------- ------------------------------- --------------------------------------------------
<S>               <C>                             <C>
       5          Ten Penn Center                 The terms of the respective Mortgage Loan
                                                  documents were modified after the Cut-off Date
                                                  to include an intercreditor agreement among the
                                                  noteholders that governs the rights and priority
                                                  of the noteholders.
----------------- ------------------------------- --------------------------------------------------
       2          Sawgrass Mills Mall             The terms of the respective Mortgage Loan
                                                  documents were modified after the Cut-off Date
                                                  to include an intercreditor agreement among the
                                                  noteholders that governs the rights and priority
                                                  of the noteholders.
----------------- ------------------------------- --------------------------------------------------
</TABLE>

Representation #(12)

<TABLE>
<CAPTION>
----------------- ------------------------------- --------------------------------------------------
  Loan Number               Loan Name                         Description of Exception
----------------- ------------------------------- --------------------------------------------------
<S>               <C>                             <C>
       32         Cassford Corporate Park         The Mortgaged Property consists of multiple
                                                  buildings, some of which may be released
                                                  separately from the lien of the Mortgage upon
                                                  defeasance.  The release of the first building
                                                  or set of buildings requires partial defeasance
                                                  of an amount equal to 110% of the allocated loan
                                                  amount and any subsequent releases require
                                                  defeasance of an amount equal to 115% of the
                                                  allocated loan amount.  Mortgagor may not
                                                  release a parcel or parcels that represent, in
                                                  the aggregate, more than 30% of the total
                                                  allocated loan amount as of the origination date.
----------------- ------------------------------- --------------------------------------------------
       28         Hock Plaza II                   Each of the individual parcels comprising the
                                                  Mortgaged Property may be released from the lien
                                                  of the Mortgage upon defeasance of an amount
                                                  equal to 115% of the allocated loan amount.
----------------- ------------------------------- --------------------------------------------------
       6          Carespring Portfolio            Each Carespring Portfolio property may be
                                                  released from the lien of the Mortgage upon
                                                  defeasance of an amount equal to 125% of the
                                                  allocated loan amount; provided however, in the
                                                  event a casualty affects the defeased property,
                                                  the affected property may be released from the
                                                  lien of the Mortgage upon defeasance of an
                                                  amount equal to 110% of the allocated loan
                                                  amount.
----------------- ------------------------------- --------------------------------------------------
       9          Summit Mall                     Subject to the satisfaction of certain
                                                  conditions, the Mortgagor may obtain a release
                                                  from the lien of the Mortgage for the air space
                                                  above the Mortgaged Property.
----------------- ------------------------------- --------------------------------------------------
       16         Valle Vista Mall                Subject to the satisfaction of certain
                                                  conditions, the Mortgagor may obtain a release
                                                  from the lien of the Mortgage for the air space
                                                  above the Mortgaged Property.
----------------- ------------------------------- --------------------------------------------------
</TABLE>

Representation #(16)

<TABLE>
<CAPTION>
----------------- ------------------------------- --------------------------------------------------
  Loan Number               Loan Name                         Description of Exception
----------------- ------------------------------- --------------------------------------------------
<S>               <C>                             <C>
74; 68; 69; 82;   The Veranda Apartments;         The respective Mortgaged Properties are legally
       32         Wingate - Allentown, PA; Best   nonconforming due to deficient parking.
                  Western Grand Victorian;
                  Windsong Village; Cassford
                  Corporate Park
----------------- ------------------------------- --------------------------------------------------
       95         LA Fitness - Euless Texas       The final plat has not been recorded.  However,
                                                  the guaranty is full recourse until such time as
                                                  the plat is recorded.
----------------- ------------------------------- --------------------------------------------------
</TABLE>

Representation #(17)

<TABLE>
<CAPTION>
----------------- ------------------------------- --------------------------------------------------
  Loan Number               Loan Name                         Description of Exception
----------------- ------------------------------- --------------------------------------------------
<S>               <C>                             <C>
      124         Petco                           As of the date of origination, the Mortgaged
                                                  Property was part of a larger tax parcel.  Taxes
                                                  for the entire tax parcel will be escrowed until
                                                  a separate tax identification number is obtained.
----------------- ------------------------------- --------------------------------------------------
</TABLE>

Representation #(19(a))

<TABLE>
<CAPTION>
----------------- ------------------------------- --------------------------------------------------
  Loan Number               Loan Name                         Description of Exception
----------------- ------------------------------- --------------------------------------------------
<S>               <C>                             <C>
       42         1450 Infinite Drive             The mortgagee waived escrows for immediate
                                                  repairs in the amount of $10,600 recommended by
                                                  the property condition report.
----------------- ------------------------------- --------------------------------------------------
       50         Home Depot - Homestead          Home Depot, the sole tenant at the Mortgaged
                                                  Property, has not completed the construction of
                                                  its retail store.  Therefore, a property
                                                  condition report was not obtained.
----------------- ------------------------------- --------------------------------------------------
       2          Sawgrass Mills Mall             The mortgagee waived escrows for immediate
                                                  repairs in the amount of $5,000 recommended by
                                                  the property condition report.
----------------- ------------------------------- --------------------------------------------------
       16         Valle Vista Mall                The mortgagee waived escrows for immediate
                                                  repairs in the amount of $235,000 recommended by
                                                  the property condition report.
----------------- ------------------------------- --------------------------------------------------
       86         Holiday Inn San Antonio         The mortgagee waived escrows for immediate
                                                  repairs in the amount of $19,300 recommended by
                                                  the property condition report.
----------------- ------------------------------- --------------------------------------------------
      106         Comfort Inn - Cross Lanes WV    The mortgagee waived escrows for immediate
                                                  repairs in the amount of $73,549 recommended by
                                                  the property condition report.
----------------- ------------------------------- --------------------------------------------------
</TABLE>

Representation #(20(g))

<TABLE>
<CAPTION>
----------------- ------------------------------- --------------------------------------------------
  Loan Number               Loan Name                         Description of Exception
----------------- ------------------------------- --------------------------------------------------
<S>               <C>                             <C>
       14         Liberty Plaza                   The ground lease, which expires in 2035, does
                                                  not extend at least 20 years beyond the maturity
                                                  date of the Mortgage Loan.
----------------- ------------------------------- --------------------------------------------------
</TABLE>

Representation #(21(b))

<TABLE>
<CAPTION>
----------------- ------------------------------- --------------------------------------------------
  Loan Number               Loan Name                         Description of Exception
----------------- ------------------------------- --------------------------------------------------
<S>               <C>                             <C>
       9          Summit Mall                     The Environmental Site Assessment recommended
                                                  the implementation of a lead based paint
                                                  operations and maintenance plan ("O&M Plan"),
                                                  but it was not executed prior to closing.
----------------- ------------------------------- --------------------------------------------------
       85         Eisen Hollywood                 The Environmental Site Assessment recommended
                                                  the implementation of a lead based paint
                                                  operations and maintenance plan ("O&M Plan"),
                                                  but it was not executed prior to closing.
----------------- ------------------------------- --------------------------------------------------
</TABLE>

Representation #(21(d))

<TABLE>
<CAPTION>
----------------- ------------------------------- --------------------------------------------------
  Loan Number               Loan Name                         Description of Exception
----------------- ------------------------------- --------------------------------------------------
<S>               <C>                             <C>
       70         The Villages                    The environmental indemnity contains a 0 year
                                                  sunset provision.
----------------- ------------------------------- --------------------------------------------------
       74         The Veranda Apartments          The environmental indemnity contains a 0 year
                                                  sunset provision.
----------------- ------------------------------- --------------------------------------------------
      113         Applewood Village               The environmental indemnity contains a 0 year
                                                  sunset provision.
----------------- ------------------------------- --------------------------------------------------
       52         Woodwind Village                The environmental indemnity contains a 0 year
                                                  sunset provision.
----------------- ------------------------------- --------------------------------------------------
      107         St. Gregory's Beach Apartments  The environmental indemnity contains a 0 year
                                                  sunset provision.
----------------- ------------------------------- --------------------------------------------------
       82         Windsong Village                The environmental indemnity contains a 0 year
                                                  sunset provision.
----------------- ------------------------------- --------------------------------------------------
       4          Hard Rock Hotel - Chicago       The environmental indemnity contains a 3 year
                                                  sunset provision.
----------------- ------------------------------- --------------------------------------------------
</TABLE>

Representation #(22)

<TABLE>
<CAPTION>
----------------- ------------------------------- --------------------------------------------------
  Loan Number               Loan Name                         Description of Exception
----------------- ------------------------------- --------------------------------------------------
<S>               <C>                             <C>
       39         Cobblestone Apartments          Mortgagor may maintain comprehensive commercial
                                                  general liability insurance with a deductible
                                                  that does not exceed $25,000.
----------------- ------------------------------- --------------------------------------------------
       95         LA Fitness - Euless Texas       Mortgagor may maintain comprehensive commercial
                                                  general liability insurance with a deductible
                                                  that does not exceed $50,000.
----------------- ------------------------------- --------------------------------------------------
      128         One Burlington Place            Mortgagor may maintain comprehensive commercial
                                                  general liability insurance with a deductible
                                                  that does not exceed $5,000.
----------------- ------------------------------- --------------------------------------------------
      119         All Storage Self Storage        Mortgagor may maintain all-risk insurance with a
                  Facility                        deductible that does not exceed $50,000, so long
                                                  as it is consistent with the custom and practice
                                                  in the retail industry in the Dallas-Fort Worth
                                                  Metroplex.  However, the guarantor is
                                                  responsible for deductibles in excess of $10,000.
----------------- ------------------------------- --------------------------------------------------
      120         Kenmore Apartments              Mortgagor may maintain comprehensive commercial
                                                  general liability insurance with a deductible
                                                  that does not exceed $10,000.  Mortgagor has
                                                  agreed to lower the deductible to $0 at the time
                                                  of renewal, but in no event later than August 1,
                                                  2007.
----------------- ------------------------------- --------------------------------------------------
       5          Ten Penn Center                 Mortgagor may maintain comprehensive commercial
                                                  general liability insurance with a deductible
                                                  that does not exceed $25,000 and earthquake and
                                                  flood insurance with a deductible that does not
                                                  exceed $50,000.
----------------- ------------------------------- --------------------------------------------------
       50         Home Depot - Homestead          Home Depot, the sole tenant at the Mortgaged
                                                  Property, is permitted to, and does, self insure.
----------------- ------------------------------- --------------------------------------------------
       6          Carespring Portfolio            Mortgagor may maintain comprehensive commercial
                                                  general liability insurance with a deductible
                                                  that does not exceed $50,000.
----------------- ------------------------------- --------------------------------------------------
       70         The Villages                    So long as the Mortgagor maintains a cash escrow
                                                  account and subject to the satisfaction of
                                                  certain other conditions, Mortgagor may maintain
                                                  all-risk insurance with a deductible that does
                                                  not exceed $100,000 per claim and $200,000 in
                                                  the aggregate per annum and comprehensive
                                                  commercial general liability insurance with a
                                                  deductible that does not exceed $10,000.
----------------- ------------------------------- --------------------------------------------------
       74         The Veranda Apartments          So long as the Mortgagor maintains a cash escrow
                                                  account and subject to the satisfaction of
                                                  certain other conditions, Mortgagor may maintain
                                                  all-risk insurance with a deductible that does
                                                  not exceed $100,000 per claim and $200,000 in
                                                  the aggregate per annum and comprehensive
                                                  commercial general liability insurance with a
                                                  deductible that does not exceed $10,000.

                                                  The all-risk coverage is an amount that is less
                                                  than the lesser of: (i) the full replacement
                                                  cost (as established by the insurable value of
                                                  the Mortgaged Property set forth in the
                                                  appraisal) and (ii) the outstanding principal
                                                  balance of the related Mortgage Loan.  However,
                                                  the Mortgaged Property is comprised of 17
                                                  individual low rise buildings and the all-risk
                                                  policy covers in excess of 100% of the insurable
                                                  value of each building (taken individually) on
                                                  the Mortgaged Property under a blanket policy.
                                                  The blanket limit is sufficient to cover several
                                                  (but not all) buildings if completely destroyed
                                                  from a single event.  Each building is
                                                  physically separated from other buildings on the
                                                  Mortgaged Property.

                                                  Due to the location of the Mortgaged Property,
                                                  windstorm insurance is covered under the Texas
                                                  windstorm pool ("Program").  Pursuant to the
                                                  Program, the deductible is $1,000 per building
                                                  and if the Mortgagor obtains insurance outside
                                                  of the Program, the deductible is capped at
                                                  $25,000.
----------------- ------------------------------- --------------------------------------------------
      113         Applewood Village               So long as the Mortgagor maintains a cash escrow
                                                  account and subject to the satisfaction of
                                                  certain other conditions, Mortgagor may maintain
                                                  all-risk insurance with a deductible that does
                                                  not exceed $100,000 per claim and $200,000 in
                                                  the aggregate per annum and comprehensive
                                                  commercial general liability insurance with a
                                                  deductible that does not exceed $10,000.

                                                  The Mortgage Loan documents provide for a
                                                  windstorm deductible of 2% of the insured value
                                                  of the Mortgaged Property.
----------------- ------------------------------- --------------------------------------------------
       52         Woodwind Village                So long as the Mortgagor maintains a cash escrow
                                                  account and subject to the satisfaction of
                                                  certain other conditions, Mortgagor may maintain
                                                  all-risk insurance with a deductible that does
                                                  not exceed $100,000 per claim and $200,000 in
                                                  the aggregate per annum and comprehensive
                                                  commercial general liability insurance with a
                                                  deductible that does not exceed $10,000.

                                                  The Mortgage Loan documents provide for a
                                                  windstorm deductible of 2% of the insured value
                                                  of the Mortgaged Property.

                                                  The all-risk coverage is an amount that is less
                                                  than the lesser of: (i) the full replacement
                                                  cost (as established by the insurable value of
                                                  the Mortgaged Property set forth in the
                                                  appraisal) and (ii) the outstanding principal
                                                  balance of the related Mortgage Loan.  However,
                                                  the Mortgaged Property is comprised of 50
                                                  individual low rise buildings and the all-risk
                                                  policy covers in excess of 100% of the insurable
                                                  value of each building (taken individually) on
                                                  the Mortgaged Property under a blanket policy.
                                                  The blanket limit is sufficient to cover several
                                                  (but not all) buildings if completely destroyed
                                                  from a single event.  Each building is
                                                  physically separated from other buildings on the
                                                  Mortgaged Property.
----------------- ------------------------------- --------------------------------------------------
      107         St. Gregory's Beach Apartments  So long as the Mortgagor maintains a cash escrow
                                                  account and subject to the satisfaction of
                                                  certain other conditions, Mortgagor may maintain
                                                  all-risk insurance with a deductible that does
                                                  not exceed $100,000 per claim and $200,000 in
                                                  the aggregate per annum and comprehensive
                                                  commercial general liability insurance with a
                                                  deductible that does not exceed $10,000.

                                                  The Mortgage Loan documents provide for a
                                                  windstorm deductible of 2% of the insured value
                                                  of the Mortgaged Property.
----------------- ------------------------------- --------------------------------------------------
       82         Windsong Village                The Mortgagor maintains a cash escrow account
                                                  and subject to the satisfaction of certain other
                                                  conditions, Mortgagor may maintain all-risk
                                                  insurance with a deductible that does not exceed
                                                  $100,000 per claim and $200,000 in the aggregate
                                                  per annum and comprehensive commercial general
                                                  liability insurance with a deductible that does
                                                  not exceed $10,000.

                                                  The Mortgage Loan documents provide for a
                                                  windstorm deductible of 2% of the insured value
                                                  of the Mortgaged Property.

                                                  The all-risk coverage is an amount that is less
                                                  than the lesser of: (i) the full replacement
                                                  cost (as established by the insurable value of
                                                  the Mortgaged Property set forth in the
                                                  appraisal) and (ii) the outstanding principal
                                                  balance of the related Mortgage Loan.  However,
                                                  the Mortgaged Property is comprised of 42
                                                  individual low rise buildings and the all-risk
                                                  policy covers in excess of 100% of the insurable
                                                  value of each building (taken individually) on
                                                  the Mortgaged Property under a blanket policy.
                                                  The blanket limit is sufficient to cover several
                                                  (but not all) buildings if completely destroyed
                                                  from a single event.  Each building is
                                                  physically separated from other buildings on the
                                                  Mortgaged Property.
----------------- ------------------------------- --------------------------------------------------
       2          Sawgrass Mills Mall             Mortgagor may maintain all-risk insurance with a
                                                  deductible that does not exceed $250,000.

                                                  The Mortgage Loan documents provide for a
                                                  windstorm deductible of 5% of the insured value
                                                  of the Mortgaged Property.

                                                  The Mortgagor is required to carry insurance
                                                  policies from carriers having a claims paying
                                                  ability rating of (i) if there is only one
                                                  insurance company issuing the Policies, "A" or
                                                  better (and 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, or (ii) if there are more than
                                                  one, but less than five, insurance companies
                                                  collectively issuing the policies, seventy five
                                                  percent (75%) or more of the insured amount
                                                  shall have a claims paying ability rating of "A"
                                                  or better (and 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, and the remaining twenty five
                                                  percent (25%) (or lesser remaining amount) of
                                                  which shall have a claims paying ability rating
                                                  of "BBB" or better (and 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, or (iii) if there are five
                                                  or more insurance companies collectively issuing
                                                  the policies, sixty percent (60%) or more of the
                                                  insured amount shall have a claims paying
                                                  ability rating of "A" or better (and 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,
                                                  and the remaining forty percent (40%) (or lesser
                                                  remaining amount) of which shall have a claims
                                                  paying ability rating of "BBB" or better (and
                                                  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.
----------------- ------------------------------- --------------------------------------------------
       9          Summit Mall                     Mortgagor may maintain all-risk insurance with a
                                                  deductible that does not exceed $250,000.

                                                  The Mortgage Loan documents provide for a
                                                  windstorm deductible of 5% of the insured value
                                                  of the Mortgaged Property.

                                                  The Mortgagor is required to carry insurance
                                                  policies from carriers having a claims paying
                                                  ability rating of "AA" or better by at least two
                                                  (2) Rating Agencies; provided however, in the
                                                  event the policies are obtained from a syndicate
                                                  of five (5) or more insurance companies, not
                                                  less than sixty percent (60%) of such insurers
                                                  may have a claims paying ability rating of "A"
                                                  by the Rating Agencies if (i) the primary layer
                                                  of coverage is obtained from insurers having
                                                  claims paying ability rating of "A" or better by
                                                  the Rating Agencies and (ii) the balance of the
                                                  companies providing such insurance have a claims
                                                  paying ability rating of "BBB" or better by the
                                                  Rating Agencies.
----------------- ------------------------------- --------------------------------------------------
       16         Valle Vista Mall                Mortgagor may maintain all-risk insurance with a
                                                  deductible that does not exceed $250,000.

                                                  The Mortgage Loan documents provide for a
                                                  windstorm deductible of 5% of the insured value
                                                  of the Mortgaged Property.

                                                  The Mortgagor is required to carry insurance
                                                  policies from carriers having a claims paying
                                                  ability rating of "AA" or better by at least two
                                                  (2) Rating Agencies; provided however, in the
                                                  event the policies are obtained from a syndicate
                                                  of five (5) or more insurance companies, not
                                                  less than sixty percent (60%) of such insurers
                                                  may have a claims paying ability rating of "A"
                                                  by the Rating Agencies if (i) the primary layer
                                                  of coverage is obtained from insurers having
                                                  claims paying ability rating of "A" or better by
                                                  the Rating Agencies and (ii) the balance of the
                                                  companies providing such insurance have a claims
                                                  paying ability rating of "BBB" or better by the
                                                  Rating Agencies.
----------------- ------------------------------- --------------------------------------------------
       14         Liberty Plaza                   Mortgagor may maintain all-risk insurance with a
                                                  deductible that does not exceed $250,000.

                                                  The Mortgage Loan documents provide for a
                                                  windstorm deductible of 5% of the insured value
                                                  of the Mortgaged Property.

                                                  The Mortgagor is required to carry insurance
                                                  policies from carriers having a claims paying
                                                  ability rating of (i) if there is only one
                                                  insurance company issuing the Policies, "A" or
                                                  better (and 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, or (ii) if there are more than
                                                  one, but less than five, insurance companies
                                                  collectively issuing the policies, seventy five
                                                  percent (75%) or more of the insured amount
                                                  shall have a claims paying ability rating of "A"
                                                  or better (and 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, and the remaining twenty five
                                                  percent (25%) (or lesser remaining amount) of
                                                  which shall have a claims paying ability rating
                                                  of "BBB" or better (and 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, or (iii) if there are five
                                                  or more insurance companies collectively issuing
                                                  the policies, sixty percent (60%) or more of the
                                                  insured amount shall have a claims paying
                                                  ability rating of "A" or better (and 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,
                                                  and the remaining forty percent (40%) (or lesser
                                                  remaining amount) of which shall have a claims
                                                  paying ability rating of "BBB" or better (and
                                                  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.
----------------- ------------------------------- --------------------------------------------------
       86         Holiday Inn San Antonio         On the origination date, the mortgagee accepted
                                                  comprehensive commercial general liability
                                                  insurance that provides for a deductible of
                                                  $1,000.
----------------- ------------------------------- --------------------------------------------------
      131         Kmart - Paintsville             Subject to the satisfaction of certain criteria,
                                                  KMart, the sole tenant at the Mortgaged
                                                  Property, is permitted to self insure.
                                                  Additionally, Kmart is only required to insure
                                                  80% of the replacement value; however, the
                                                  Mortgagor personally guaranteed any shortfall if
                                                  this amount is insufficient to fully restore the
                                                  Mortgaged Property.
----------------- ------------------------------- --------------------------------------------------
                  All Loans                       Although the Mortgage Loan Documents require
                                                  comprehensive general liability insurance
                                                  consistent with this representation and
                                                  warranty, as of the date hereof, the mortgagee
                                                  has not received evidence of the endorsement
                                                  necessary to include it as an additional
                                                  insured.  At closing, the mortgagee accepted
                                                  evidence of comprehensive commercial general
                                                  liability insurance and its inclusion as an
                                                  additional insured on standard Accord form 25 or
                                                  other similar forms.
----------------- ------------------------------- --------------------------------------------------
</TABLE>

Representation #(24)

<TABLE>
<CAPTION>
----------------- ------------------------------- --------------------------------------------------
  Loan Number               Loan Name                         Description of Exception
----------------- ------------------------------- --------------------------------------------------
<S>               <C>                             <C>
       46         DoubleTree - Cleveland          Disabled Patriots of America, Inc. and Bonnie
                                                  Kramer, as plaintiffs, have filed a complaint
                                                  against the Mortgagor, as defendant, which
                                                  alleges that the Mortgaged Property does not
                                                  comply with the Americans Disabilities Act with
                                                  respect to parking, entrance access and path of
                                                  travel, access to goods and services, restrooms
                                                  and accessible guest rooms.  The complaint only
                                                  seeks injunctive relief and attorneys' fees.  At
                                                  origination, the Mortgagor escrowed $150,000 to
                                                  bring the Mortgaged Property within compliance.
----------------- ------------------------------- --------------------------------------------------
</TABLE>

Representation #(29)

<TABLE>
<CAPTION>
----------------- ------------------------------- --------------------------------------------------
  Loan Number               Loan Name                         Description of Exception
----------------- ------------------------------- --------------------------------------------------
<S>               <C>                             <C>
  14; 9; 16; 2    Liberty Plaza; Summit Mall;     The original principal balance of the Liberty
                  Valle Vista Mall; Sawgrass      Plaza Mortgage Loan, the Summit Mall Mortgage
                  Mills Mall                      Loan, the Valle Vista Mall Mortgage Loan and the
                                                  Sawgrass Simon Mall Mortgage Loan, which loans
                                                  are to Mortgagors under common sponsorship,
                                                  represent more than 5% of the aggregate
                                                  outstanding principal amount of all the mortgage
                                                  loans included in the trust fund.
----------------- ------------------------------- --------------------------------------------------
</TABLE>

Representation #(32)

<TABLE>
<CAPTION>
----------------- ------------------------------- --------------------------------------------------
  Loan Number               Loan Name                         Description of Exception
----------------- ------------------------------- --------------------------------------------------
<S>               <C>                             <C>
       42         1450 Infinite Drive             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.
----------------- ------------------------------- --------------------------------------------------
       6          Carespring Portfolio            Subject to the satisfaction of certain
                                                  conditions, transfers to affiliates and other
                                                  entities or individuals are permitted pursuant
                                                  to the Mortgage Loan documents.
----------------- ------------------------------- --------------------------------------------------
       70         The Villages                    In conjunction with the Mortgagor financing the
                                                  transfer and assumption of the Mortgage Loan and
                                                  Mortgaged Property and subject to the
                                                  satisfaction of certain other conditions, the
                                                  Mortgagor has a one time right to incur
                                                  additional subordinate debt secured by the
                                                  Mortgaged Property.
----------------- ------------------------------- --------------------------------------------------
       74         The Veranda Apartments          In conjunction with the Mortgagor financing the
                                                  transfer and assumption of the Mortgage Loan and
                                                  Mortgaged Property and subject to the
                                                  satisfaction of certain other conditions, the
                                                  Mortgagor has a one time right to incur
                                                  additional subordinate debt secured by the
                                                  Mortgaged Property.
----------------- ------------------------------- --------------------------------------------------
      113         Applewood Village               In conjunction with the Mortgagor financing the
                                                  transfer and assumption of the Mortgage Loan and
                                                  Mortgaged Property and subject to the
                                                  satisfaction of certain other conditions, the
                                                  Mortgagor has a one time right to incur
                                                  additional subordinate debt secured by the
                                                  Mortgaged Property.
----------------- ------------------------------- --------------------------------------------------
       52         Woodwind Village                In conjunction with the Mortgagor financing the
                                                  transfer and assumption of the Mortgage Loan and
                                                  Mortgaged Property and subject to the
                                                  satisfaction of certain other conditions, the
                                                  Mortgagor has a one time right to incur
                                                  additional subordinate debt secured by the
                                                  Mortgaged Property.
----------------- ------------------------------- --------------------------------------------------
      107         St. Gregory's Beach Apartments  In conjunction with the Mortgagor financing the
                                                  transfer and assumption of the Mortgage Loan and
                                                  Mortgaged Property and subject to the
                                                  satisfaction of certain other conditions, the
                                                  Mortgagor has a one time right to incur
                                                  additional subordinate debt secured by the
                                                  Mortgaged Property.
----------------- ------------------------------- --------------------------------------------------
       82         Windsong Village                In conjunction with the Mortgagor financing the
                                                  transfer and assumption of the Mortgage Loan and
                                                  Mortgaged Property and subject to the
                                                  satisfaction of certain other conditions, the
                                                  Mortgagor has a one time right to incur
                                                  additional subordinate debt secured by the
                                                  Mortgaged Property.
----------------- ------------------------------- --------------------------------------------------
       35         1140 19th Street Northwest      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.
----------------- ------------------------------- --------------------------------------------------
       48         1146 19th Street Northwest      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.
----------------- ------------------------------- --------------------------------------------------
      109         National Cup Building           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.
----------------- ------------------------------- --------------------------------------------------
       5          Ten Penn Center                 Subject to the satisfaction of certain
                                                  conditions, transfers to affiliates and other
                                                  entities or individuals are permitted pursuant
                                                  to the Mortgage Loan documents.
----------------- ------------------------------- --------------------------------------------------
       2          Sawgrass Mills Mall             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.
----------------- ------------------------------- --------------------------------------------------
       32         Cassford Corporate Park         Subject to the satisfaction of certain
                                                  conditions, transfers to affiliates and other
                                                  entities or individuals are permitted pursuant
                                                  to the Mortgage Loan documents.
----------------- ------------------------------- --------------------------------------------------
      119         All Storage Self Storage        Subject to the satisfaction of certain criteria,
                  Facility                        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.
----------------- ------------------------------- --------------------------------------------------
       9          Summit Mall                     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.
----------------- ------------------------------- --------------------------------------------------
       16         Valle Vista Mall                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.
----------------- ------------------------------- --------------------------------------------------
       14         Liberty Plaza                   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.
----------------- ------------------------------- --------------------------------------------------
       36         Market Square                   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.
----------------- ------------------------------- --------------------------------------------------
       86         Holiday Inn San Antonio         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.
----------------- ------------------------------- --------------------------------------------------
       4          Hard Rock Hotel - Chicago       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.
----------------- ------------------------------- --------------------------------------------------
       51         Kennerly Medical Office         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>
       6          Carespring Portfolio            The Mortgaged Property secures the Mortgage Loan
                                                  (consisting of a Fixed Rate A-2 Note and a Fixed
                                                  Rate A-3 Note) and a Fixed Rate A-1 Note (which
                                                  is pari passu with the Mortgage Loan and is not
                                                  included in the trust fund).
----------------- ------------------------------- --------------------------------------------------
       2          Sawgrass Mills Mall             The Mortgaged Property secures (A) the Mortgage
                                                  Loan consisting of a Fixed Rate A-1 (Phase I)
                                                  Note, Fixed Rate A-1 (Phase II) Note and Fixed
                                                  Rate A-1 (Phase III) Note] and (B) a Fixed Rate
                                                  A-2 (Phase I) Note, Fixed Rate A-2 (Phase II)
                                                  Note, Fixed Rate A-2 (Phase III) Note, Fixed
                                                  Rate A-3 (Phase I) Note, Fixed Rate A-3 (Phase
                                                  II) Note, Fixed Rate A-3 (Phase III) Note, Fixed
                                                  Rate A-4 (Phase I) Note, Fixed Rate A-4 (Phase
                                                  II) Note, Fixed Rate A-4 (Phase III) Note, Fixed
                                                  Rate A-5 (Phase I) Note, Fixed Rate A-5 (Phase
                                                  II) Note and Fixed Rate A-5 (Phase III) Note
                                                  (each of which is pari passu with the Mortgage
                                                  Loan and is not included in the trust fund) and
                                                  (C) a Fixed Rate B-1 (Phase I) Note, Fixed Rate
                                                  B-1 (Phase II) Note, Fixed Rate B-1 (Phase III)
                                                  Note, Fixed Rate B-2 (Phase I) Note, Fixed Rate
                                                  B-2 (Phase II) Note, Fixed Rate B-2 (Phase III)
                                                  Note, Fixed Rate B-3 (Phase I) Note, Fixed Rate
                                                  B-3 (Phase II) Note and Fixed Rate B-3 (Phase
                                                  III) Note (each of which is not included in the
                                                  trust fund).
----------------- ------------------------------- --------------------------------------------------
</TABLE>

Representation #(35)

<TABLE>
<CAPTION>
----------------- ------------------------------- --------------------------------------------------
  Loan Number               Loan Name                         Description of Exception
----------------- ------------------------------- --------------------------------------------------
<S>               <C>                             <C>
       6          Carespring Portfolio            Each Carespring Portfolio property may be
                                                  released from the lien of the Mortgage upon
                                                  defeasance of an amount equal to 125% of the
                                                  allocated loan amount; provided however, in the
                                                  event a casualty affects the defeased property,
                                                  the affected property may be released from the
                                                  lien of the Mortgage upon defeasance of an
                                                  amount equal to 110% of the allocated loan
                                                  amount.
----------------- ------------------------------- --------------------------------------------------
       28         Hock Plaza II                   Each of the individual parcels comprising the
                                                  Mortgaged Property may be released from the lien
                                                  of the Mortgage upon defeasance of an amount
                                                  equal to 115% of the allocated loan amount.
----------------- ------------------------------- --------------------------------------------------
       32         Cassford Corporate Park         The Mortgaged Property consists of multiple
                                                  buildings, some of which may be released
                                                  separately from the lien of the Mortgage upon
                                                  defeasance.  The release of the first building
                                                  or set of buildings requires partial defeasance
                                                  of an amount equal to 110% of the allocated loan
                                                  amount and any subsequent releases require
                                                  defeasance of an amount equal to 115% of the
                                                  allocated loan amount.  Mortgagor may not
                                                  release a parcel or parcels that represent, in
                                                  the aggregate, more than 30% of the total
                                                  allocated loan amount as of the origination date.
----------------- ------------------------------- --------------------------------------------------
</TABLE>

Representation #(36)

<TABLE>
<CAPTION>
----------------- ------------------------------- --------------------------------------------------
  Loan Number               Loan Name                         Description of Exception
----------------- ------------------------------- --------------------------------------------------
<S>               <C>                             <C>
       4          Hard Rock Hotel - Chicago       The Mortgage Loan is structured with a master
                                                  lease to take advantage of historic tax
                                                  credits.  As part of that structure, the
                                                  Mortgagor has master leased the Mortgaged
                                                  Property to an affiliate entity and thus, the
                                                  affiliate entity owns certain personal property
                                                  at the Mortgaged Property.
----------------- ------------------------------- --------------------------------------------------
</TABLE>

Representation #(37)

<TABLE>
<CAPTION>
----------------- ------------------------------- --------------------------------------------------
  Loan Number               Loan Name                         Description of Exception
----------------- ------------------------------- --------------------------------------------------
<S>               <C>                             <C>
74; 68; 69; 82;   The Veranda Apartments;         The respective Mortgaged Properties are legally
       32         Wingate - Allentown, PA; Best   nonconforming due to deficient parking.
                  Western Grand Victorian;
                  Windsong Village; Cassford
                  Corporate Park
----------------- ------------------------------- --------------------------------------------------
</TABLE>

Representation #(38)

<TABLE>
<CAPTION>
----------------- ------------------------------- --------------------------------------------------
  Loan Number               Loan Name                         Description of Exception
----------------- ------------------------------- --------------------------------------------------
<S>               <C>                             <C>
       50         Home Depot - Homestead          Home Depot, the sole tenant at the Mortgaged
                                                  Property, has not completed the construction of
                                                  its retail store.
----------------- ------------------------------- --------------------------------------------------
</TABLE>

Representation #(42)

<TABLE>
<CAPTION>
----------------- ------------------------------- --------------------------------------------------
  Loan Number               Loan Name                         Description of Exception
----------------- ------------------------------- --------------------------------------------------
<S>               <C>                             <C>
       6          Carespring Portfolio            Terrorism insurance premiums are capped at
                                                  $85,000 per year.
----------------- ------------------------------- --------------------------------------------------
       70         The Villages                    Terrorism insurance premiums are capped at
                                                  $8,000 per year.
----------------- ------------------------------- --------------------------------------------------
       74         The Veranda Apartments          Terrorism insurance premiums are capped at
                                                  $8,000 per year.
----------------- ------------------------------- --------------------------------------------------
      113         Applewood Village               Terrorism insurance premiums are capped at
                                                  $6,000 per year.
----------------- ------------------------------- --------------------------------------------------
       52         Woodwind Village                Terrorism insurance premiums are capped at
                                                  $10,000 per year.
----------------- ------------------------------- --------------------------------------------------
      107         St. Gregory's Beach Apartments  Terrorism insurance premiums are capped at
                                                  $7,000 per year.
----------------- ------------------------------- --------------------------------------------------
       82         Windsong Village                Terrorism insurance premiums are capped at
                                                  $7,500 per year.
----------------- ------------------------------- --------------------------------------------------
       58         Maricopa Marketplace            Mortgagor is only required to obtain terrorism
                                                  insurance to the extent that such insurance is
                                                  commercially available at commercially
                                                  reasonable rates.  The existing all-risk
                                                  insurance policy does not exclude terrorism
                                                  coverage.
----------------- ------------------------------- --------------------------------------------------
       5          Ten Penn Center                 Terrorism insurance premiums are capped at
                                                  $150,000 per year, subject to annual increases
                                                  based on the Consumer Price Index.
----------------- ------------------------------- --------------------------------------------------
      119         All Storage Self Storage        Terrorism insurance premiums are capped at
                  Facility                        $10,000 per year.
----------------- ------------------------------- --------------------------------------------------
      131         Kmart - Paintsville             At origination, the mortgagee waived the
                                                  requirement for terrorism insurance so long as
                                                  KMart is a tenant.
----------------- ------------------------------- --------------------------------------------------
       4          Hard Rock Hotel - Chicago       Terrorism insurance premiums are capped at
                                                  $175,000 per year.
----------------- ------------------------------- --------------------------------------------------
       85         Eisen Hollywood                 Terrorism insurance premiums are capped at
                                                  $10,500 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
August 1, 2007 (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 August 3, 2007, as supplemented by the Prospectus
Supplement, dated August 3, 2007 (collectively, the "Prospectus"), relating to
the offering of the Class A-1, Class A-2, Class A-3, Class A-4, Class A-SB,
Class A-1A, Class X, Class A-M, Class A-J, Class B, Class C, Class D, Class E
and Class F Certificates, the Private Placement Memorandum, dated August 24,
2007 (the "Privately Offered Certificate Private Placement Memorandum"),
relating to the offering of the Class G, Class H, Class J, Class K, Class L,
Class M, Class N, Class P, Class Q, Class T, Class NR, Class S, Class R, and
Class LR, and the Residual Private Placement Memorandum, dated August 24, 2007
(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 August,
2007.

                                       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:

Paragraph 21(b) and (c):

None.Exhibit 10.2

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

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

                                    PURCHASER

                        UBS REAL ESTATE SECURITIES INC.,

                                     SELLER

                        MORTGAGE LOAN PURCHASE AGREEMENT

                           Dated as of August 1, 2007

                            Fixed Rate Mortgage Loans

                                Series 2007-LDP12

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

<PAGE>

            This Mortgage Loan Purchase Agreement (this "Agreement"), dated as
of August 1, 2007, is between J.P. Morgan Chase Commercial Mortgage Securities
Corp., as purchaser (the "Purchaser"), and UBS Real Estate Securities Inc., 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 August 1, 2007 (the "Pooling and Servicing Agreement") among the
Purchaser, as depositor (the "Depositor"), Wells Fargo Bank, N.A., as master
servicer (the "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 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-3,
Class A-4, Class A-SB, Class A-1A, Class X, Class A-M, Class A-J, Class B, Class
C, Class D, Class E and Class F Certificates (the "Offered Certificates") to the
underwriters (the "Underwriters") specified in the underwriting agreement, dated
as of August 24, 2007 (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
G, Class H and Class J Certificates and a portion of the Class K Certificates to
JPMSI and/or UBS Securities LLC as initial purchasers and sell the remaining
portion of the Class K Certificates and the Class L, Class M, Class N, Class P,
Class Q, Class T and Class NR Certificates through JPMSI, as placement agent
pursuant to the certificate purchase and placement agreement dated August 24,
2007 (the "Certificate Purchase and Placement Agreement"), among the Depositor,
JPMSI, for itself as initial purchaser and on behalf of UBS Securities LLC, as
initial purchaser, and JPMSI as placement agent.

            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 $607,553,819.89
(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 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 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 Master Servicer has exercised all
remedies available under the Mortgage Loan documents to collect such Transfer
Modification Costs from such Mortgagor, in which case the 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 Master Servicer, in order to assist and facilitate in the
transfer of the servicing of the Mortgage Loans to the Master Servicer,
including effectuating the transfer of any letters of credit with respect to any
Mortgage Loan to the Trustee (in care of the 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
Master Servicer), the Seller will cooperate with the reasonable requests of the
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 August 24,
2007 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 (only with respect to
disclosure related to Items 1117 or 1119 of Regulation AB) on Schedule X and
Schedule 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 corporation, duly organized, validly existing and in
      good standing under the laws of the State of Delaware;

            (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 Banking 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 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 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 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, the interests of the Trustee therein or the
interests of 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 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 certificate of incorporation 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 good standing of the
      Seller issued by the Secretary of the State of Delaware 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 corporation, duly organized, validly
            existing and in good standing under the laws of the State of
            Delaware;

                  (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 and Placement 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 the Term Sheet (as defined in the Indemnification Agreement), or
items similar to the Term Sheet, 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, UBS Real Estate Securities Inc.,
1285 Avenue of the Americas, New York, New York 10019, Attention: Mark Green,
fax number (212) 713-1050 and Attention: Jeffrey N. Lavine, fax number (212)
713-4062 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/ Emanuel Chrysoulakis
                                          -------------------------------------
                                          Name:  Emanuel Chrysoulakis
                                          Title: Vice President

                                       UBS REAL ESTATE SECURITIES INC.,
                                          as Seller

                                       By:   /s/ Brian E. O'Hara
                                          -------------------------------------
                                          Name:  Brian E. O'Hara
                                          Title: Director

                                       By:   /s/ Jeffrey N. Lavine
                                          -------------------------------------
                                          Name:  Jeffrey N. Lavine
                                          Title: Managing Director

<PAGE>

                                    EXHIBIT A

                             MORTGAGE LOAN SCHEDULE

                 JPMCC 2007-LDP12
                 Mortgage Loan Schedule (UBS)

<TABLE>
<CAPTION>
                          Originator/
                             Loan              Mortgagor
     Loan #                 Seller             Name
--------------------------------------------------------------------------------------------------------------
<S>                    <C>                   <C>
       8                      UBS              7000 Central Park Investors, LLC
       10                     UBS              Pacific Coast Plaza Investments, L.P.
       11                     UBS              Integrated Capital - Overland Park LLC
       17                     UBS              E-Lake Holding, L.P.
     17.01                    UBS
     17.02                    UBS
       18                     UBS              Chula Vista Center II Associates, L.P.
     18.01                    UBS
     18.02                    UBS
     18.03                    UBS
     18.04                    UBS
     18.05                    UBS
     18.06                    UBS
       22                     UBS              Reads West Forsyth, LLC; Sendar (Garage) West Forsyth, LLC;
                                               Pepperwood West Forsyth, LLC; West Forsyth Financial
                                               Associates, LLC; Riverside West Forsyth, LLC
       25                     UBS              Kahn Property Owner, LLC
       29                     UBS              VR Buckhead Limited Partnership
       30                     UBS              Hotel Pacific Monterey, LLC
       40                     UBS              VR Sweetwater Limited Partnership
       44                     UBS              WRD Melville LLC
       49                     UBS              DDCM Broome Realty, LLC and SMGB Broome, LLC
       53                     UBS              Jacaroga, L.L.C.; Benhad L.L.C.
       56                     UBS              North Side Realty Trust
       59                     UBS              Jaguar Steel LLC
       61                     UBS              Verde Braun Station Apartments LP
       62                     UBS              286 Fifth Realty Corp.
       63                     UBS              25 West 36th Realty Corp.
       71                     UBS              Comcapp Bryan Willow Oaks, LLC
       72                     UBS              Zahava Realty Corp.
       75                     UBS              Hill Country Self Storage Investments, LP; MT Hill Country, LP;
                                               DK Hill Country, LP; MW Hill Country, LP; JL Hill Country, LP
       78                     UBS              2701 Emmons Ave, LLC; Emmons Associates LLC
       79                     UBS              WRD Centereach LLC
       80                     UBS              Cedar Village Townhomes, LP
       88                     UBS              ARC CVHVHMA001, LLC
       89                     UBS              ACV North Richland Hills, LP
       90                     UBS              MWG Westwood, LLC
       92                     UBS              Kingsley-Silverado Springs I, LP; Kingsley-Silverado Springs II, LP;
                                               Kingsley-Silverado Springs III, LP; Kingsley-Silverado Springs IV, LP;
                                               Kingsley-Silverado Springs V, LP
       94                     UBS              DTC Hanover Business Center East, LLC
       96                     UBS              Pearl Drake, LLC
       97                     UBS              ARC SSMAMO0001, LLC
      101                     UBS              348 13th Street LLC
      102                     UBS              7231 Roosevelt, L.P.
      103                     UBS              Craig Nellis Investments, LLC; DK Craig Nellis, LLC;
                                               MW Craig Nellis, LLC; ED Craig Nellis, LLC;
                                               JL Craig Nellis, LLC; MT Craig Nellis, LLC
      110                     UBS              99 University Corp.
      111                     UBS              ARC CVDVLGA001, LLC
      118                     UBS              CRE Johnson City Triple Net Holdings LLC
      121                     UBS              101-02/10 Metropolitan LLC
      122                     UBS              Rosenberg Plaza Associates, L.P.
      134                     UBS              Storage Inn Las Vegas Investments, LLC; JL Storage Inn
                                               Las Vegas; HB Storage Inn Las Vegas, LLC; TD Storage Inn
                                               Las Vegas, LLC
      135                     UBS              Cordova Storage Investments, LLC
      141                     UBS              Naperville Advance, L.L.C.
      162                     UBS              ACV Traders Point, LLC

<CAPTION>

                 Property                                                                               Zip
     Loan #      Address                                        City                 State              Code         County
------------------------------------------------------------------------------------------------------------------------------------
<S>             <C>                                          <C>                   <C>               <C>            <C>
       8         7000 Central Parkway                           Atlanta               GA               30328         Fulton
       10        2178 Vista Way                                 Oceanside             CA               92054         San Diego
       11        10800 Metcalf Avenue                           Overland Park         KS               66210         Johnson
       17        Various                                        Chula Vista           CA               91915         San Diego
     17.01       1450, 1480, 2097 & 2121 Eastlake Parkway;      Chula Vista           CA               91915         San Diego
                  2089 & 2127 Olympic Parkway
     17.02       2305 & 2315 Otay Lakes Road                    Chula Vista           CA               91915         San Diego
       18        Various                                        Various               CA              Various        San Diego
     18.01       810- 835 College Boulevard                     Oceanside             CA               92057         San Diego
     18.02       13578 Camino Canada                            El Cajon              CA               92021         San Diego
     18.03       640-650 Dennery Rd                             San Diego             CA               92154         San Diego
     18.04       13687 Camino Canada                            El Cajon              CA               92021         San Diego
     18.05       55 & 67 N. Broadway                            Chula Vista           CA               91910         San Diego
     18.06       3460-3464 Murphy Canyon Road                   San Diego             CA               92123         San Diego
       22        200 West Forsyth Street                        Jacksonville          FL               32202         Duval
       25        135 West Gate Drive                            Huntington            NY               11743         Suffolk
       29        2900 Pharr Court South NW                      Atlanta               GA               30305         Fulton
       30        300 Pacific Street                             Monterey              CA               93940         Monterey
       40        3405 Sweetwater Road                           Lawrenceville         GA               30044         Gwinnett
       44        610 Broad Hollow Road                          Melville              NY               11747         Suffolk
       49        248-254 Broome Street                          New York              NY               10002         New York
       53        6154-6158 Springfield Blvd                     Oakland Gardens       NY               11364         Queens
       56        1050 Bicentennial Drive                        Manchester            NH               03104         Hillsborough
       59        198 Grumman Road West                          Bethpage              NY               11714         Nassau
       61        9603 Bandera Road                              San Antonio           TX               78250         Bexar
       62        286 Fifth Avenue                               New York              NY               10001         New York
       63        25 West 36th Street                            New York              NY               10018         New York
       71        3902 East 29th St                              Bryan                 TX               77802         Brazos
       72        447 Broadway                                   New York              NY               10013         New York
       75        15616 Stewart Road                             Lakeway               TX               78734         Travis
       78        2701 Emmons Avenue                             Brooklyn              NY               11235         Kings
       79        1929 Middle Country Road                       Centereach            NY               11720         Suffolk
       80        44 Eagle Court                                 Wilkes-Barre          PA               18706         Luzerne
       88        225 Main Street                                Haverhill             MA               01830         Essex
       89        6537 Northeast Loop 820                        North Richland Hills  TX               76180         Tarrant
       90        112 Westwood Place                             Brentwood             TN               37027         Williamson
       92        11100 Walnut Hill Lane                         Dallas                TX               75238         Dallas
       94        272 Brodhead Road                              Bethlehem             PA               18017         Northampton
       96        17600 Pearl Road                               Strongsville          OH               44136         Cuyahoga
       97        9521 Lewis & Clark Boulevard                   Moline Acres          MO               63136         St. Louis
      101        348 13th Street                                Brooklyn              NY               11215         Kings
      102        7321 Roosevelt Blvd                            Philadelphia          PA               19149         Philadelphia
      103        5250 Craig Road                                Las Vegas             NV               89130         Clark
      110        99 University Place                            New York              NY               10003         New York
      111        6031 Fairburn Road                             Douglasville          GA               30134         Douglas
      118        335 Main Street                                Johnson City          NY               13790         Broome
      121        101-04/10 Metropolitan Avenue                  Forest Hills          NY               11375         Queens
      122        2634 Avenue H                                  Rosenberg             TX               77471         Fort Bend
      134        4950 Duneville Street                          Las Vegas             NV               89130         Clark
      135        1570 Bonnie Lane                               Cordova               TN               38018         Shelby
      141        925 East Odgen Avenue                          Naperville            IL               60563         DuPage
      162        5640 W. 8t6th Street                           Indianapolis          IN               46278         Marion

<CAPTION>

                                                                                                       Net
                                                                                                    Mortgage
                 Property                                                              Interest     Interest          Original
     Loan #      Name                                    Size           Measure        Rate (%)       Rate             Balance
--------------------------------------------------------------------------------------------------------------------------------
<S>              <C>                                  <C>             <C>             <C>          <C>             <C>
       8         7000 Central Park                       415324        Square Feet     6.30600      6.28523          65,000,000
       10        Pacific Coast Plaza                     312313        Square Feet     6.01700      5.99623          62,950,000
       11        Marriott Overland Park                    390            Rooms        6.64200      6.62123          49,500,000
       17        Eastlake Terraces Retail Portfolio       77889        Square Feet     6.01700      5.99623          39,000,000
     17.01       Eastlake Terraces                        61089        Square Feet     6.01700                       29,300,000
     17.02       Village Center East                      16800        Square Feet     6.01700                        9,700,000
       18        Chula Vista II Retail Portfolio         133246        Square Feet     6.01700      5.99623          36,700,000
     18.01       Rancho Del Oro                           43800        Square Feet     6.01700                       12,000,000
     18.02       East County Square                       28500        Square Feet     6.01700                        8,500,000
     18.03       Palm Promenade                           32198        Square Feet     6.01700                        8,300,000
     18.04       East County Village                      12501        Square Feet     6.01700                        3,500,000
     18.05       Broadway Plaza                           8632         Square Feet     6.01700                        2,400,000
     18.06       Stonecrest Plaza                         7615         Square Feet     6.01700                        2,000,000
       22        BB&T Tower                              252987        Square Feet     6.21600      6.19523          31,400,000
       25        Oheka Castle                              32             Rooms        6.60000      6.57923          28,500,000
       29        Camelot Buckhead Apartments               224            Units        6.17400      6.15323          23,750,000
       30        Hotel Pacific                             105            Rooms        6.22000      6.19923          23,500,000
       40        Camelot on Sweetwater Apartments          280            Units        6.17400      6.15323          17,100,000
       44        Melville Plaza                           55405        Square Feet     6.31600      6.25523          14,280,000
       49        Broome Street Apartments                  76             Units        6.22200      6.20123          13,250,000
       53        Bayside Retail Center                    30915        Square Feet     5.71000      5.68923          12,500,000
       56        Northside Plaza                         114612        Square Feet     6.19000      6.16923          12,100,000
       59        198 Grumman Road                         68000        Square Feet     6.31800      6.29723          11,550,000
       61        Verde Braun Station                       240            Units        6.14000      6.11923          11,300,000
       62        286 Fifth Avenue                         44800        Square Feet     6.10000      6.07923          11,100,000
       63        3-25 West 36th Street                    44520        Square Feet     6.10000      6.07923          10,650,000
       71        Willow Oaks Apartments                    299            Units        6.11440      6.09363           8,750,000
       72        447 Broadway                             25000        Square Feet     6.10000      6.07923           8,250,000
       75        Hill Country Storage                      621            Units        6.29000      6.26923           7,760,000
       78        2701 Emmons Avenue                       21000        Square Feet     6.24500      6.22423           7,540,000
       79        Centereach Plaza                         47602        Square Feet     6.25600      6.19523           7,530,000
       80        Cedar Village                             140            Units        5.99500      5.97423           7,287,000
       88        CVS Haverhill                            11970        Square Feet     5.84000      5.81923           6,664,000
       89        Burlington Coat Factory                  70891        Square Feet     5.67000      5.64923           6,500,000
       90        Westwood Building                        37086        Square Feet     5.72000      5.69923           6,500,000
       92        Silverado Springs Apartments              317            Units        6.05200      6.03123           6,200,000
       94        Hanover Business Center                  60000        Square Feet     5.79600      5.77523           6,000,000
       96        Parkview Plaza I & II                    47920        Square Feet     6.26000      6.23923           5,840,000
       97        Shop 'N Save - St. Louis                 53781        Square Feet     5.90000      5.87923           5,675,000
      101        348 13th Street                          20762        Square Feet     6.34900      6.32823           5,375,000
      102        Office Max - Philadelphia                23500        Square Feet     6.25900      6.23823           5,200,000
      103        Craig Nellis Storage                      842            Units        6.34000      6.31923           5,200,000
      110        99 University Place                      34600        Square Feet     5.94000      5.91923           4,500,000
      111        CVS Douglasville                         13013        Square Feet     5.94500      5.92423           4,420,000
      118        Walgreens - Johnson City                 14820        Square Feet     5.67000      5.64923           4,081,000
      121        101-102 Metropolitan Avenue              8000         Square Feet     5.88500      5.86423           3,840,000
      122        Plaza Shopping Center                    80928        Square Feet     6.20900      6.18823           3,800,000
      134        Storage Inn                               277            Units        6.50000      6.47923           2,820,000
      135        Cordova Stor 'N Lock                      387            Units        6.29000      6.26923           2,800,000
      141        Advance Auto                             7000         Square Feet     5.76000      5.73923           2,155,000
      162        Union Federal Bank                       2000         Square Feet     6.49000      6.46923             800,000

<CAPTION>

                                                          Maturity/                                  Monthly
                      Cutoff                Rem.           ARD             Amort.        Rem.         Debt             Servicing
     Loan #          Balance      Term      Term           Date             Term        Amort.       Service            Fee Rate
------------------------------------------------------------------------------------------------------------------------------------
<S>             <C>             <C>       <C>          <C>                <C>         <C>          <C>               <C>
       8           65,000,000      60         59          07/10/12             0            0         346,319           0.02000
       10          62,950,000     120        119          07/09/17             0            0         320,026           0.02000
       11          49,500,000      60         60          08/10/12            360          360        317,511           0.02000
       17          39,000,000     120        119          07/09/17             0            0         198,269           0.02000
     17.01         29,300,000     120        119          07/09/17             0            0
     17.02          9,700,000     120        119          07/09/17             0            0
       18          36,700,000     120        119          07/09/17             0            0         186,576           0.02000
     18.01         12,000,000     120        119          07/09/17             0            0
     18.02          8,500,000     120        119          07/09/17             0            0
     18.03          8,300,000     120        119          07/09/17             0            0
     18.04          3,500,000     120        119          07/09/17             0            0
     18.05          2,400,000     120        119          07/09/17             0            0
     18.06          2,000,000     120        119          07/09/17             0            0
       22          31,400,000      84         83          07/09/14             0            0         164,911           0.02000
       25          28,500,000      60         60          08/09/12            360          360        182,018           0.02000
       29          23,750,000     120        119          07/10/17             0            0         123,891           0.02000
       30          23,500,000      60         56          04/11/12             0            0         123,500           0.02000
       40          17,100,000     120        119          07/10/17             0            0          89,201           0.02000
       44          14,280,000     120        120          08/09/17            420          420         84,476           0.06000
       49          13,250,000      60         59          07/09/12             0            0          69,655           0.02000
       53          12,500,000     120        118          06/07/17             0            0          60,305           0.02000
       56          12,100,000     120        119          07/09/17             0            0          63,283           0.02000
       59          11,550,000     120        120          08/06/17            300          300         76,678           0.02000
       61          11,300,000     120        120          08/09/17            360          360         68,770           0.02000
       62          11,100,000     120        120          08/09/17            360          360         67,265           0.02000
       63          10,650,000     120        120          08/09/17            360          360         64,538           0.02000
       71           8,750,000      84         82          06/09/14            360          360         53,106           0.02000
       72           8,250,000     120        120          08/09/17            360          360         49,995           0.02000
       75           7,760,000     120        117          05/11/17             0            0          41,240           0.02000
       78           7,540,000     120        119          07/09/17             0            0          39,784           0.02000
       79           7,530,000     120        120          08/09/17            360          360         46,393           0.06000
       80           7,287,000     120        120          08/09/17             0            0          36,910           0.02000
       88           6,664,000     120        119          07/11/17             0            0          32,882           0.02000
       89           6,500,000     120        115          03/10/17             0            0          31,139           0.02000
       90           6,500,000     120        118          06/11/17            360          360         37,808           0.02000
       92           6,200,000     120        119          07/09/17            360          360         37,380           0.02000
       94           6,000,000     120        119          07/09/17             0            0          29,383           0.02000
       96           5,840,000     120        119          07/11/17            360          360         35,996           0.02000
       97           5,675,000     120        118          06/11/17             0            0          28,290           0.02000
      101           5,375,000     120        119          07/09/17             0            0          28,833           0.02000
      102           5,200,000      84         84          08/09/14             0            0          27,499           0.02000
      103           5,200,000     120        117          05/11/17             0            0          27,855           0.02000
      110           4,500,000     120        118          06/09/17             0            0          22,584           0.02000
      111           4,420,000     120        118          06/11/17             0            0          22,202           0.02000
      118           4,081,000     120        118          06/11/17             0            0          19,551           0.02000
      121           3,840,000     120        120          08/09/17             0            0          19,094           0.02000
      122           3,800,000     120        120          08/09/17            360          360         23,296           0.02000
      134           2,820,000     120        118          06/11/17             0            0          15,487           0.02000
      135           2,800,000     120        118          06/11/17            360          360         17,313           0.02000
      141           2,150,842     120        118          06/11/17            360          358         12,590           0.02000
      162             800,000     120        120          08/10/17            360          360          5,051           0.02000

<CAPTION>

               Accrual       ARD    ARD Step     Title     Crossed
     Loan #     Type        (Y/N)    Up (%)      Type       Loan        Guarantor
------------------------------------------------------------------------------------------------------------------------------------
<S>         <C>            <C>      <C>        <C>         <C>        <C>
       8     Actual/360      No                   Fee                   Berwind Property Group, Inc., Berwind Property Group, Ltd.
       10    Actual/360      No                   Fee                   Franklin C. Gatlin, III
       11    Actual/360      No                   Fee                   IC Overland Park GP, LLC
       17    Actual/360      No                   Fee                   Franklin C. Gatlin, III
     17.01   Actual/360      No                   Fee
     17.02   Actual/360      No                   Fee
       18    Actual/360      No                   Fee                   Franklin C. Gatlin, III
     18.01   Actual/360      No                   Fee
     18.02   Actual/360      No                   Fee
     18.03   Actual/360      No                   Fee
     18.04   Actual/360      No                   Fee
     18.05   Actual/360      No                   Fee
     18.06   Actual/360      No                   Fee
       22    Actual/360      No                   Fee                   HGGP Capital II, LLC and Sendar Development Co., LLC
       25    Actual/360      No                   Fee                   Gary Melius
       29    Actual/360      No                   Fee                   Andrew Stewart, John Foresi
       30    Actual/360      No                Leasehold                Michael D. Firsel, David P. Bossy, Peter G. Dumon
       40    Actual/360      No                   Fee                   Andrew Stewart, John Foresi
       44    Actual/360      No                   Fee                   Michael B. Willner, Benjamin P. Willner
       49    Actual/360      No                   Fee                   Sina Mahfar, Sassan Mahfar, Michael Forrest,
                                                                        Lawrence Helfant
       53    Actual/360      No                   Fee                   Ben-Zion Alcalay
       56    Actual/360      No                   Fee                   Edward C. Gordon, Robert F. Gordon
       59    Actual/360      No                   Fee                   Joseph Lostritto, Glenn Lostritto
       61    Actual/360      No                   Fee                   Verde Realty Operating Partnership LP
       62    Actual/360      No                   Fee                   Elie Chetrit, Isaac Chetrit
       63    Actual/360      No                   Fee                   Abraham Chetrit
       71    Actual/360      No                   Fee                   Kevin Bell, Robert H. Finney
       72    Actual/360      No                   Fee                   Elie Chetrit, Isaac Chetrit
       75    Actual/360      No                   Fee                   Stephen Kaplan
       78    Actual/360      No                   Fee                   Rubin Schron, Marc Chemtob
       79    Actual/360      No                   Fee                   Michael B. Willner, Benjamin P. Willner
       80    Actual/360      No                   Fee                   Alan R. Hammer
       88    Actual/360      No                   Fee                   ARC, Master Triple Net Holdings LLC
       89    Actual/360      No                   Fee                   David R. Grieve
       90    Actual/360      No                   Fee                   Mark W. Gaw
       92    Actual/360      No                   Fee                   James J. Morrison, JR
       94    Actual/360      No                   Fee                   Michael M. Dunn, Gail G. Dunn, David Krisovitch,
                                                                        James Krisovitch, Ryan S. Dunn, Andrew J. Twigger
       96    Actual/360      No                   Fee                   David T. Terry
       97    Actual/360      No                   Fee                   ARC, Master Triple Net Holdings LLC
      101    Actual/360      No                   Fee                   Harry Einhorn
      102    Actual/360      No                   Fee                   Jack Wolgin
      103    Actual/360      No                   Fee                   Stephen R. Kaplan, Margaret Turney, Dino Katsoulas,
                                                                        Melissa Arhos Katsoulas, Michael Wheelden,
                                                                        Eddie Prosis, Jack London, Barbara London
      110    Actual/360      No                   Fee                   Bijan Nassi
      111    Actual/360      No                   Fee                   ARC, Master Triple Net Holdings LLC
      118    Actual/360      No                   Fee                   Master Triple Net Holdings LLC
      121    Actual/360      No                Leasehold                Jeff Sutton, David Rosenberg
      122    Actual/360      No                   Fee                   Rosenberg Plaza Associates, L.P.
      134    Actual/360      No                   Fee                   Stephen R. Kaplan, Jack London, Barbara London,
                                                                        Hugh S. Belasco, Juanita Belasco, Timothy Darring
      135    Actual/360      No                   Fee                   Stephen Kaplan
      141    Actual/360      No                   Fee                   George Novogroder, George D. Hanus
      162    Actual/360      No                   Fee                   David R. Grieve

<CAPTION>

                                                                      UPFRONT ESCROW
                         -----------------------------------------------------------------------------------------------------------
                              Upfront           Upfront     Upfront            Upfront         Upfront                     Upfront
                Letter         CapEx              Eng.       Envir.             TI/LC          RE Tax     Upfront Ins.      Other
     Loan #    of Credit      Reserve           Reserve     Reserve            Reserve         Reserve      Reserve        Reserve
------------------------------------------------------------------------------------------------------------------------------------
<S>            <C>        <C>                <C>            <C>             <C>            <C>           <C>            <C>
       8          No         281,909.00             0.00         0.00        6,000,000.00    738,509.17         0.00      725,000.00
       10         No         36,776.55          2,250.00         0.00         245,177.00     175,830.31     4,408.00            0.00
       11         No       16,000,000.00            0.00         0.00            0.00              0.00         0.00            0.00
       17         No         10,483.35          2,438.00         0.00         69,889.00       85,559.65     1,891.00            0.00
     17.01
     17.02
       18         No         19,989.15          5,063.00         0.00         199,891.50      71,797.05     8,047.00            0.00
     18.01
     18.02
     18.03
     18.04
     18.05
     18.06
       22         No        1,917,500.00       32,500.00         0.00        6,015,000.00    286,667.67    37,291.25      275,000.00
       25         No            0.00           93,750.00         0.00            0.00         31,710.00   105,548.00      420,000.00
       29         No         860,000.00             0.00         0.00            0.00        269,420.42         0.00            0.00
       30         No            0.00                0.00         0.00            0.00        311,666.67    16,854.50      107,250.00
       40         No         654,000.00             0.00         0.00            0.00        206,082.00         0.00            0.00
       44         No           692.56               0.00         0.00            0.00         33,480.08         0.00       65,000.00
       49      400,000.0     850,000.00             0.00         0.00            0.00          9,478.65     4,741.92      500,000.00
       53         No           308.26           6,500.00         0.00          1,284.42       20,764.50     2,514.67            0.00
       56         No         251,433.03             0.00         0.00         454,776.75      32,966.17         0.00            0.00
       59         No            0.00                0.00    50,000.00            0.00        158,510.87    11,727.33    1,000,000.00
       61         No          5,000.00              0.00         0.00            0.00        270,666.67         0.00            0.00
       62         No           746.67               0.00         0.00            0.00         26,342.27     6,345.25    1,700,000.00
       63         No           742.00               0.00         0.00            0.00         22,052.63     6,094.75      177,200.00
       71         No         640,000.00             0.00         0.00            0.00         74,177.20    11,898.00            0.00
       72         No           416.67               0.00         0.00            0.00         17,427.25     3,658.75            0.00
       75         No         29,478.00              0.00         0.00            0.00         67,018.49     3,937.50            0.00
       78         No            0.00                0.00         0.00            0.00          5,498.00         0.00            0.00
       79         No           595.03               0.00         0.00            0.00         39,694.05         0.00       93,857.71
       80         No            0.00                0.00         0.00            0.00         59,531.88         0.00      425,000.00
       88         No            0.00                0.00         0.00            0.00              0.00         0.00            0.00
       89         No         349,450.00         3,502.00         0.00        2,172,275.00    136,255.00    14,672.00      473,924.69
       90         No            0.00                0.00         0.00            0.00         27,536.50     3,334.67      500,000.00
       92         No            0.00           26,500.00         0.00            0.00         84,757.60    16,916.67            0.00
       94         No           750.00               0.00         0.00          3,250.00       25,954.39     2,251.25       25,098.08
       96         No            0.00                0.00         0.00         50,000.00       16,966.99     4,416.67            0.00
       97         No            0.00                0.00         0.00            0.00              0.00         0.00            0.00
      101         No            0.00                0.00         0.00            0.00          4,200.92       422.71            0.00
      102         No           293.75           3,125.00         0.00            0.00              0.00         0.00            0.00
      103         No         43,593.00              0.00         0.00            0.00          5,123.10     1,987.50            0.00
      110         No            0.00           18,375.00         0.00            0.00        123,791.47    19,668.49            0.00
      111         No            0.00                0.00         0.00            0.00              0.00         0.00            0.00
      118         No            0.00                0.00         0.00            0.00              0.00         0.00            0.00
      121         No            0.00                0.00         0.00            0.00              0.00         0.00            0.00
      122         No            0.00                0.00         0.00         100,000.00      31,933.33         0.00            0.00
      134         No         19,437.00              0.00         0.00            0.00          4,807.05     1,423.50            0.00
      135         No         15,963.00              0.00         0.00            0.00         39,620.77     1,559.50            0.00
      141         No            0.00                0.00         0.00            0.00              0.00         0.00            0.00
      162         No            0.00                0.00         0.00            0.00              0.00         0.00            0.00

<CAPTION>

                                                                 MONTHLY ESCROW
                 ----------------------------------------------------------------------------------------------------------
                  Monthly      Monthly            Monthly            Monthly
                    Capex      Envir.              TI/LC              RE Tax                  Monthly            Monthly
     Loan #       Reserve      Reserve            Reserve            Reserve               Ins. Reserve       Other Reserve
---------------------------------------------------------------------------------------------------------------------------
<S>             <C>           <C>             <C>              <C>                       <C>                <C>
       8          6908.62        0.00                0.00           73850.92                   0.00                 0.00
       10         3064.71        0.00            20431.42           43957.58                   0.00                 0.00
       11            0.00        0.00                0.00               0.00                   0.00                 0.00
       17          873.61        0.00             5824.08           21389.91                   0.00                 0.00
     17.01
     17.02
       18         1665.76        0.00            16657.63           17949.26                   0.00                 0.00
     18.01
     18.02
     18.03
     18.04
     18.05
     18.06
       22         5414.66        0.00            15000.00           35833.33               12430.42                 0.00
       25            0.00        0.00                0.00           15855.00                9595.00            140000.00
       29         4800.00        0.00                0.00           29935.60                   0.00                 0.00
       30        20467.51        0.00                0.00           31166.67                5618.17             16666.67
       40         5250.00        0.00                0.00           22898.00                   0.00                 0.00
       44          692.56        0.00                0.00           11160.03                   0.00                 0.00
       49            0.00        0.00                0.00            9478.65                4741.92                 0.00
       53          308.26        0.00             1284.42            3460.75                1257.33                 0.00
       56         1433.03        0.00             4776.75           16483.08                   0.00                 0.00
       59            0.00        0.00                0.00           39155.47                1465.92                 0.00
       61         5000.00        0.00                0.00           33833.33                   0.00                 0.00
       62          746.67        0.00                0.00           13171.13                2115.08                 0.00
       63          742.00        0.00                0.00           11026.31                2031.58                 0.00
       71         6229.17        0.00                0.00           14835.44                5949.00                 0.00
       72          416.67        0.00                0.00            8713.63                1219.58                 0.00
       75          818.88        0.00              416.67           11169.75                1312.50                 0.00
       78          297.50        0.00             1400.00            5498.00                   0.00                 0.00
       79          595.03        0.00                0.00           13231.35                   0.00                 0.00
       80         2916.67        0.00                0.00            5877.28                2613.17                 0.00
       88          147.44        0.00                0.00               0.00                   0.00                 0.00
       89            0.00        0.00                0.00               0.00                   0.00                 0.00
       90          618.10        0.00             2317.83            4589.42                 416.83                 0.00
       92         6604.17        0.00                0.00           12108.23                4229.17                 0.00
       94          750.00        0.00             3250.00            5396.42                 750.42                 0.00
       96          589.00        0.00                0.00            8483.50                1104.17                 0.00
       97            0.00        0.00                0.00               0.00                   0.00                 0.00
      101          259.53        0.00             1730.17            4200.92                 422.71                 0.00
      102          293.75        0.00                0.00               0.00                   0.00                 0.00
      103         1210.94        0.00                0.00            2561.55                 662.50                 0.00
      110            0.00        0.00                0.00           20631.91                3735.21                 0.00
      111            0.00        0.00                0.00               0.00                   0.00                 0.00
      118            0.00        0.00                0.00               0.00                   0.00                 0.00
      121            0.00        0.00                0.00               0.00                   0.00                 0.00
      122         1382.00        0.00                0.00            3991.67                   0.00                 0.00
      134          539.92        0.00                0.00            1201.76                 474.50                 0.00
      135          443.40        0.00                0.00            4524.77                 519.83                 0.00
      141            0.00        0.00                0.00               0.00                   0.00                 0.00
      162            0.00        0.00                0.00               0.00                   0.00                 0.00

<CAPTION>

                                                                                                                    Remaining
                                                                             Interest                 Final        Amortization
              Grace       Lockbox       Property             Defeasance       Accrual       Loan     Maturity        Term for
     Loan #   Period      In-place      Type                  Permitted       Period       Group       Date        Balloon Loans
------------------------------------------------------------------------------------------------------------------------------------
<S>           <C>         <C>           <C>                 <C>            <C>             <C>       <C>         <C>
       8        0           Yes               Office             No         Actual/360       1
       10       0           Yes               Retail             Yes        Actual/360       1
       11       0           No                 Hotel             Yes        Actual/360       1                          360
       17       0           Yes               Retail             Yes        Actual/360       1
     17.01      0                             Retail                        Actual/360       1
     17.02      0                             Retail                        Actual/360       1
       18       0           Yes               Retail             Yes        Actual/360       1
     18.01      0                             Retail                        Actual/360       1
     18.02      0                             Retail                        Actual/360       1
     18.03      0                             Retail                        Actual/360       1
     18.04      0                             Retail                        Actual/360       1
     18.05      0                             Retail                        Actual/360       1
     18.06      0                             Retail                        Actual/360       1
       22       0           Yes               Office             Yes        Actual/360       1
       25       0           Yes                Hotel             Yes        Actual/360       1                          360
       29       0           No              Multifamily          Yes        Actual/360       2
       30       0           Yes                Hotel             Yes        Actual/360       1
       40       0           No              Multifamily          Yes        Actual/360       2
       44       0           Yes               Retail             Yes        Actual/360       1                          420
       49       0           Yes             Multifamily          Yes        Actual/360       1
       53       2           No               Mixed Use           Yes        Actual/360       1
       56       0           Yes               Retail             Yes        Actual/360       1
       59       0           No              Industrial           Yes        Actual/360       1                          300
       61       0           No              Multifamily          No         Actual/360       2                          360
       62       0           No                Office             Yes        Actual/360       1                          360
       63       0           No                Office             Yes        Actual/360       1                          360
       71       0           No              Multifamily          No         Actual/360       1                          360
       72       0           No                Office             Yes        Actual/360       1                          360
       75       0           No             Self Storage          No         Actual/360       1
       78       0           No                Office             Yes        Actual/360       1
       79       0           Yes               Retail             Yes        Actual/360       1                          360
       80       0           No              Multifamily          Yes        Actual/360       2
       88       0           Yes               Retail             Yes        Actual/360       1
       89       0           Yes               Retail             Yes        Actual/360       1
       90       0           No                Office             Yes        Actual/360       1                          360
       92       0           No              Multifamily          Yes        Actual/360       2                          360
       94       0           No              Industrial           Yes        Actual/360       1
       96       0           No                Retail             Yes        Actual/360       1                          360
       97       0           Yes               Retail             Yes        Actual/360       1
      101       0           No                Office             Yes        Actual/360       1
      102       0           No                Retail             Yes        Actual/360       1
      103       0           No             Self Storage          No         Actual/360       1
      110       0           Yes               Office             Yes        Actual/360       1
      111       0           Yes               Retail             Yes        Actual/360       1
      118       0           Yes               Retail             Yes        Actual/360       1
      121       0           Yes               Retail             Yes        Actual/360       1
      122       0           Yes               Retail             No         Actual/360       1                          360
      134       0           No             Self Storage          No         Actual/360       1
      135       0           No             Self Storage          No         Actual/360       1                          360
      141       0           No                Retail             Yes        Actual/360       1                          360
      162       0           Yes               Retail             No         Actual/360       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) Except with respect to repairs estimated to cost less than
$5,000 in the aggregate, 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) Each Mortgage Loan complied at origination, in all material
respects, with all of the terms, conditions and requirements of the Seller, or
if the Seller is not the originator, then, to the knowledge of the Seller, the
originator's or the Seller's, underwriting standards applicable to such Mortgage
Loan 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 not less
than 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) In the event of casualty or destruction of the Mortgaged
Property, any non-conformity with applicable zoning laws as of the origination
date will not prohibit the Mortgaged Property from being restored or repaired in
all material respects, to the use or structure at the time of such casualty,
except for restrictions on its use or rebuildability for which (i) law and
ordinance insurance coverage has been obtained in amounts consistent with the
standards utilized by the Seller or (ii) an ALTA lender's title insurance policy
or the equivalent as adopted in the applicable jurisdiction, insuring against
such non-conformity.

            (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.

            (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.

            (44) Each Mortgaged Property is, and is required pursuant to the
related Mortgage to be, insured by (a) a fire and extended perils insurance
policy providing coverage against loss or damage sustained by reason of fire,
lightning, windstorm, hail, explosion, riot, riot attending a strike, civil
commotion, aircraft, vehicles and smoke, and, (b) to the extent required as of
the date of origination by the originator of such Mortgage Loan consistent with
its capital markets conduit lending practices, against other risks insured
against by persons operating like properties in the locality of the Mortgaged
Property, in each case in an amount not less than the lesser of the principal
balance of the related Mortgage Loan and the replacement cost of the
improvements located at the Mortgaged Property, and not less than the amount
necessary to avoid the operation of any co-insurance provisions with respect to
the Mortgaged Property, and the policy contains no provisions for a deduction
for depreciation.

            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 A - Ground Leases

--------------------------------------------------------------------------------
Loan No. 30               Hotel Pacific                           Leasehold
--------------------------------------------------------------------------------
Loan No. 121              101 - 102 Metropolitan Avenue           Leasehold
--------------------------------------------------------------------------------
<PAGE>

                                    EXHIBIT C

                                JPMCC 2007-LDP12

           EXCEPTIONS TO MORTGAGE LOAN REPRESENTATIONS AND WARRANTIES

Rep. No. 10(a)

<TABLE>
<CAPTION>
--------------- --------------------- -----------------------------------------------------------
Loan No.        Loan Name             Description of Exception
--------------- --------------------- -----------------------------------------------------------
<S>             <C>                   <C>
11              Marriott Overland     An environmental insurance policy was provided by the
                Park                  Mortgagor in lieu of an environmental indemnity
                                      agreement.
--------------- --------------------- -----------------------------------------------------------
29; 40          Camelot at            No individual or entity other than the Mortgagor is
                Buckhead              fully liable for actual losses, liabilities, costs and
                Apartments;           damages arising from the breach of the environmental
                Camelot at            covenants.
                Sweetwater
                Apartments
--------------- --------------------- -----------------------------------------------------------
59              198 Grumman Road      If the Mortgagor's environmental insurance policy covers
                                      some or all of the losses suffered by the mortgagee then
                                      the environmental indemnity agreement will only apply for
                                      that portion of actual losses, liabilities, costs and
                                      damages that are not covered by such environmental
                                      insurance policy.
--------------- --------------------- -----------------------------------------------------------
71              Willow Oaks           The related indemnitors will be released from the
                Apartments            environmental indemnity agreement upon the Mortgagor
                                      obtaining either  a "pollution legal liability"
                                      insurance policy, or  a "secured creditor" environmental
                                      insurance policy acceptable to mortgagee and which
                                      satisfies certain insurance requirements as set forth
                                      under the related Mortgage Loan documents.
--------------- --------------------- -----------------------------------------------------------
88; 97; 111;    CVS Haverhill;        No individual or entity other than the Mortgagor is
118; 122        Shop `N Save - St.    fully liable for actual losses, liabilities, costs and
                Louis; CVS            damages arising from the related non-recourse carve-out
                Douglasville;         provisions.
                Walgreens -
                Johnson City;
                Plaza Shopping
                Center
--------------- --------------------- -----------------------------------------------------------
141             Advance Auto          The Mortgage Loan is full recourse to the Mortgagor until
                                      certain conditions precedent are satisfied.
--------------- --------------------- -----------------------------------------------------------
</TABLE>

Rep. No. 12

<TABLE>
<CAPTION>
--------------- --------------------- -----------------------------------------------------------
Loan No.        Loan Name             Description of Exception
--------------- --------------------- -----------------------------------------------------------
<S>             <C>                   <C>
17; 18          Eastlake Terraces     The Mortgagor may obtain the release of any individual
                Retail Portfolio;     Mortgaged Property from the lien of the Mortgage upon
                Chula Vista II        defeasance of an amount equal to 110% of the Allocated
                Retail Portfolio      Loan Amount.
--------------- --------------------- -----------------------------------------------------------
22              BB&T Tower            The Mortgagor may obtain the release of a certain
                                      unimproved out-parcel of the Mortgaged Property (that was
                                      not attributed with any net operating income in
                                      connection with the underwriting of the related Mortgage
                                      Loan) from the lien of the Mortgage if, among other
                                      things, the loan-to-value ratio ("LTV") (excluding the
                                      value of such unimproved out-parcel) immediately prior to
                                      such release is not more than 80%; provided that if the
                                      LTV exceeds 80%, but is less than 85%, the related
                                      Mortgagor will have the right to prepay a portion of the
                                      outstanding principal balance in an amount sufficient to
                                      reduce such LTV ratio to 80% plus any applicable
                                      prepayment premium that is required to be paid in
                                      connection with such prepayment.
--------------- --------------------- -----------------------------------------------------------
25              Oheka Castle          The Mortgagor may obtain the release of a certain
                                      unimproved portion of the Mortgaged Property from the
                                      lien of the Mortgage upon prepayment of an amount equal
                                      to $2,000,000 plus any applicable yield maintenance
                                      premium that is required to be paid in connection with
                                      such prepayment.
--------------- --------------------- -----------------------------------------------------------
</TABLE>

Rep. No. 16

<TABLE>
<CAPTION>
--------------- --------------------- -----------------------------------------------------------
Loan No.        Loan Name             Description of Exception
--------------- --------------------- -----------------------------------------------------------
<S>             <C>                   <C>
89; 141         Burlington Coat       As of the origination date, only a temporary Certificate
                Factory; Advance      of Occupancy ("CO") was issued with respect to the
                Auto                  related Mortgaged Property.  The Mortgagor will be fully
                                      liable with respect to any losses arising from failure to
                                      obtain a permanent CO.
--------------- --------------------- -----------------------------------------------------------
110             99 University Place   As of the origination date, there were active building
                                      violations that could result in a lien on the related
                                      Mortgaged Property; however, the related guarantor has
                                      provided a non-recourse carveout guarantee in connection
                                      therewith.
--------------- --------------------- -----------------------------------------------------------
</TABLE>

Rep. No. 22

<TABLE>
<CAPTION>
--------------- --------------------- -----------------------------------------------------------
Loan No.        Loan Name             Description of Exception
--------------- --------------------- -----------------------------------------------------------
<S>             <C>                   <C>
10; 17; 18      Pacific Coast         All insurance policies are required to be issued by
                Plaza; Eastlake       insurance companies with a claims-paying-ability rating
                Terraces Retail       of "A" or better by Standard & Poor's Rating Services
                Portfolio; Chula      ("S&P"), a division of The McGraw Hill Company and
                Vista II Retail       Fitch, Inc. and a financial strength rating of "Al" by
                Portfolio             Moody's Investors Services, Inc. ("Moody's")
                                      (collectively, the "Required Ratings").  Notwithstanding
                                      the foregoing, any insurance company that does not
                                      satisfy the Required Ratings ("Otherwise Rated Insurer")
                                      may be permitted to issue the Mortgagor's required
                                      insurance policies; provided, that (A) there is a
                                      "cut-through" endorsement (permitting recovery against
                                      the provider of such endorsement) from an insurance
                                      company with the foregoing Required Ratings that is made
                                      in favor of such Otherwise Rated Insurer, or (B) such
                                      Otherwise Rated Insurer is at least 51% owned by a
                                      parent company that satisfies the Required Ratings and
                                      if such parent company of an Otherwise Rated Insurer is
                                      approved by the rating agencies (which may be
                                      conditioned on any number of requirements including the
                                      requirement that such parent company guarantee the
                                      obligations of such Otherwise Rated Insurer).
--------------- --------------------- -----------------------------------------------------------
78              2701 Emmons Avenue    The related Mortgagor is required to provide renewal
                                      insurance certificates (no later than 3 days prior to
                                      the expiration date of the insurance policy effective as
                                      of the origination date) in form and substance similar
                                      to such policy and reflecting terms and conditions
                                      substantially similar to those approved by the mortgagee.
--------------- --------------------- -----------------------------------------------------------
88; 97; 111;    CVS Haverhill;        The related single tenant may self-insure the Mortgaged
118             Shop `N Save - St.    Property as long as it maintains a senior unsecured
                Louis; CVS            rating of not less than "BBB" from S&P (or the
                Douglasville;         equivalent of such rating by Moody's).
                Walgreens -
                Johnson City
--------------- --------------------- -----------------------------------------------------------
88; 97; 111;    CVS Haverhill;        All insurance policies may be issued by an insurance
118; 162        Shop `N Save - St.    company with a minimum financial strength rating or a
                Louis; CVS            minimum claims-paying-ability rating of at least "A:VII"
                Douglasville;         from A.M. Best Company ("A.M. Best") or "BBB+" or better
                Walgreens -           from S&P (or an equivalent of such rating from one of
                Johnson City;         the other rating agencies).
                Union Federal Bank
--------------- --------------------- -----------------------------------------------------------
141             Advance Auto          As of the origination date, "Affiliated FM Insurance
                                      Company" (with a rating of "BBB" from S&P) was permitted
                                      to issue the Mortgagor's casualty insurance policy;
                                      provided, however, that if such policy is renewed, then
                                      the Mortgagor shall be required to obtain casualty
                                      insurance from an insurer with a minimum financial
                                      strength rating or claims-paying-ability rating of at
                                      least "BBB+" or better from S&P or "A:VIII" from A.M.
                                      Best.
--------------- --------------------- -----------------------------------------------------------
</TABLE>

Rep. No. 32

<TABLE>
<CAPTION>
--------------- --------------------- -----------------------------------------------------------
Loan No.        Loan Name             Description of Exception
--------------- --------------------- -----------------------------------------------------------
<S>             <C>                   <C>
11              Marriott Overland     The related Mortgage Loan documents contain a "due on
                Park                  sale" clause that prohibits the sale or transfer of the
                                      related Mortgaged Property and any controlling interests
                                      therein other than in connection with (A) any transfer as
                                      a result of the death of any person with interests in
                                      Integrated Capital - Overland Park LLC (the "Mortgagor"),
                                      any transfer as a result of legal incapacity of any such
                                      person or any transfer by any such person for estate
                                      planning purposes; provided, that, in each case, IC
                                      Overland Park GP, LLC continues to control the Mortgagor;
                                      or (B) any transfer of interests in the Mortgagor,
                                      provided, that, among other things, Integrated Capital
                                      LLC and/or RCG Longview Equity Partners, LLC and/or any
                                      entity wholly owned and controlled by Integrated Capital
                                      LLC and/or RCG Longview Equity Partners, LLC
                                      (collectively, the "Sponsors") retain control of the
                                      Mortgagor; Integrated Capital - OP Mezz LLC, the sole
                                      member of the Mortgagor, and Integrated Capital -
                                      Overland Park Holdings, LLC, the holder of 100% of the
                                      interests in such sole member of the Mortgagor
                                      (collectively, the "Controlling Parties") and the
                                      Sponsors continue to own at least 20% equity interest in
                                      each of the Controlling Parties.  In determining the
                                      extent of RCG Longview Equity Partners, LLC's ownership
                                      interest, RCG Longview Equity Partners, LLC will be
                                      credited for interests held by RCG Longview Equity Fund,
                                      L.P. for so long as RCG Longview Equity Partners, LLC
                                      controls RCG Longview Equity Fund, L.P.  Additionally,
                                      any foreclosure of any pledge of interests in any of the
                                      Controlling Parties that results in a failure by the
                                      Sponsors to continue to control the Controlling Parties
                                      or a failure to maintain at least 20% equity interest in
                                      each of the Controlling Parties will constitute an event
                                      of default.
--------------- --------------------- -----------------------------------------------------------
11; 29; 40;     Marriott Overland     The owners of the Mortgagor are permitted to incur
49; 53; 71;     Park; Camelot at      mezzanine indebtedness secured by the pledge of direct
88; 97; 111;    Buckhead              and/or indirect ownership interests of the related
118             Apartments; Camelot   Mortgagor.
                at Sweetwater
                Apartments; Broome
                Street Apartments;
                Bayside Retail
                Center; Willow Oaks
                Apartments; CVS
                Haverhill; Shop `N
                Save - St. Louis;
                CVS Douglasville;
                Walgreens - Johnson
                City
--------------- --------------------- -----------------------------------------------------------
22              BB&T Tower            The related Mortgage Loan documents provide that 100% of
                                      the membership interest in two of the tenants-in-common
                                      owners of the Mortgagor may be transferred to a certain
                                      permitted transferee in order to facilitate a so-called
                                      "reverse 1031 exchange" transaction.
--------------- --------------------- -----------------------------------------------------------
25              Oheka Castle          The related Mortgage Loan documents provide that (A) the
                                      control of management responsibilities of Kahn
                                      Associates, LLC ("Kahn") to Arbor Oheka, LLC ("Arbor")
                                      and the subsequent transfer of such control of management
                                      responsibilities of the Mortgagor to Kahn, or (B) all of
                                      Gary Melius's membership interests in Kahn to Arbor may
                                      be transferred without the mortgagee's prior written
                                      consent; provided that, among other things, (x) no event
                                      of default exists, (y) no change of control of Arbor
                                      arises from the foregoing transfers; and (z) Arbor
                                      provides an additional guarantor acceptable to the
                                      mortgagee.
--------------- --------------------- -----------------------------------------------------------
88; 97; 111     CVS Haverhill; Shop   The related Mortgage Loan documents provide that any
118             `N Save-St. Louis;    interests in the related Mortgagor may be transferred to
                CVS Douglasville;     any entity in which UBS Real Estate Investments Inc.
                Walgreens - Johnson   ("UBSREI"), an affiliate of the Seller and UBS AG, or UBS
                City                  AG (or any of their respective affiliates) holds, any
                                      interests or investment in and to any entity in which
                                      UBSREI or UBS AG is merged into or consolidated with.
                                      Additionally, UBSREI may, without the prior written
                                      consent of the mortgagee, transfer or assign, or cause
                                      the transfer or assignment of,  all or any portion of the
                                      direct or indirect interests in the related Mortgagor or
                                      may permit a transfer, directly or indirectly, of any
                                      direct or indirect interest in UBSREI or the related
                                      Mortgagor, to (x) any fund advised by UBSREI or an
                                      "affiliate" of UBSREI, or (y) any other entity as long
                                      as, in the case of this clause (y) only, UBSREI, an
                                      affiliate of UBSREI, or a fund advised by UBSREI or an
                                      affiliate of UBSREI either directly or indirectly (1)
                                      "controls" such entity or (2) is empowered to conduct,
                                      (or directly or indirectly controls an entity that is
                                      empowered to conduct), all day-to-day management of the
                                      Mortgaged Property and, subject to obtaining the consent
                                      of other persons or entities that may have an interest
                                      therein, has the right to participate in (or directly or
                                      indirectly controls an entity that has the right to
                                      participate in), all day-to-day management of the
                                      Mortgaged Property.  Additionally, nothing in the related
                                      Mortgage Loan documents restricts the right of UBSREI to
                                      engage in repurchase transactions or any pledge,
                                      hypothecation, or re-hypothecation transaction with
                                      respect to its indirect ownership of the partnership
                                      interests in the related Mortgagor.
--------------- --------------------- -----------------------------------------------------------
88; 97; 110;    CVS Haverhill;        The Seller holds the direct and/or indirect equity
111; 118;       Shop `N Save-St.      interests of the related Mortgagor.
143; 145;       Louis; 99
146; 148 -      University Place;
153; 155 -      CVS Douglasville;
157; 159; 161   Walgreens - Johnson
                City; The Logan
                Portfolio Loans
--------------- --------------------- -----------------------------------------------------------
110             99 University Place   A pledge of the Mortgagor's equity interests secures
                                      mezzanine indebtedness held by the Seller.
--------------- --------------------- -----------------------------------------------------------
</TABLE>

Rep. No. 35

<TABLE>
<CAPTION>
--------------- --------------------- -----------------------------------------------------------
Loan No.        Loan Name             Description of Exception
--------------- --------------------- -----------------------------------------------------------
<S>             <C>                   <C>
17; 18          Eastlake Terraces     Same as exception to Rep. No. 12 above.
                Retail Portfolio;
                Chula Vista II
                Retail Portfolio
--------------- --------------------- -----------------------------------------------------------
</TABLE>

Rep. No. 42

<TABLE>
<CAPTION>
--------------- --------------------- -----------------------------------------------------------
Loan No.        Loan Name             Description of Exception
--------------- --------------------- -----------------------------------------------------------
<S>             <C>                   <C>
10; 17; 18      Pacific Coast         Terrorism insurance is required to the extent that such
                Plaza; Eastlake       insurance can be purchased for an annual premium not in
                Terraces Retail       excess of $75,000.
                Portfolio; Chula
                Vista II Retail
                Portfolio
--------------- --------------------- -----------------------------------------------------------
11              Marriott Overland     Terrorism insurance is required to the extent that such
                Park                  insurance can be purchased for an annual premium not in
                                      excess of $65,000.
--------------- --------------------- -----------------------------------------------------------
61              Verde Braun Station   Terrorism insurance is required to the extent that such
                                      insurance can be purchased for an annual premium not in
                                      excess of $25,000.
--------------- --------------------- -----------------------------------------------------------
88; 89; 97;     CVS Haverhill;        Terrorism insurance is required to the extent that such
111; 118;  162  Burlington Coat       insurance can be purchased for a premium not in excess
                Factory; Shop `N      of 2 times the amount paid for the applicable terrorism
                Save - St. Louis;     coverage (which is either provided as part of an "all
                CVS Douglasville;     risk" standard extended coverage or separately on a
                Walgreens -           "stand-alone-basis", as the case may be) for the
                Johnson City;         immediately preceding 12-month coverage period.
                Union Federal Bank
--------------- --------------------- -----------------------------------------------------------
122             Plaza Shopping        Terrorism insurance is required to the extent that such
                Center                insurance can be purchased for an annual premium not in
                                      excess of $7,500.
--------------- --------------------- -----------------------------------------------------------
</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
August 1, 2007 (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 August 3, 2007, as supplemented by the Prospectus
Supplement, dated August 3, 2007 (collectively, the "Prospectus"), relating to
the offering of the Class A-1, Class A-2, Class A-3, Class A-4, Class A-SB,
Class A-1A, Class X, Class A-M, Class A-J, Class B, Class C, Class D, Class E
and Class F Certificates, the Private Placement Memorandum, dated August 24,
2007 (the "Privately Offered Certificate Private Placement Memorandum"),
relating to the offering of the Class G, Class H, Class J, Class K, Class L,
Class M, Class N, Class P, Class Q, Class T, Class NR, Class S, Class R, and
Class LR Certificates, and the Residual Private Placement Memorandum, dated
August 24, 2007 (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 August,
2007.

                                       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>

                       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 number set forth below.

Paragraph 21(b) and (c):

1.    Marriott Overland Park.

2.    198 Grumman Road.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00129-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00129-of-00352.parquet"}]]