Document:

EXHIBIT 10.1

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                        MORTGAGE LOAN PURCHASE AGREEMENT

                                     between

                     BEAR STEARNS COMMERCIAL MORTGAGE, INC.
                                    as Seller

                                       and

                BEAR STEARNS COMMERCIAL MORTGAGE SECURITIES INC.
                                  as Purchaser

                            Dated as of April 6, 2006

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                              TABLE OF CONTENTS

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

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

3.    EXAMINATION OF MORTGAGE FILES AND DUE DILIGENCE REVIEW................11

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

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

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

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

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

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

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

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

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

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

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

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

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

Exhibit 1   Mortgage Loan Schedule
Exhibit 2   Representations and Warranties
Exhibit 3   Pricing Formulation
Exhibit 4   Bill of Sale
Exhibit 5   Power of Attorney

                            Index of Defined Terms

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

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                       MORTGAGE LOAN PURCHASE AGREEMENT
                   (BEAR STEARNS COMMERCIAL MORTGAGE LOANS)

Mortgage Loan Purchase Agreement ("Agreement"), dated as of April 6, 2006,
between Bear Stearns Commercial Mortgage, Inc. ("Seller") and Bear Stearns
Commercial Mortgage Securities Inc. ("Purchaser").

Seller agrees to sell and Purchaser agrees to purchase certain mortgage loans
listed on Exhibit 1 hereto (the "Mortgage Loans") as described herein. Purchaser
will convey the Mortgage Loans to a trust (the "Trust") created pursuant to a
Pooling and Servicing Agreement (the "Pooling and Servicing Agreement"), to be
dated as of April 1, 2006 between Purchaser, as depositor, Wells Fargo Bank,
National Association, as master servicer (the "Master Servicer"), ARCap
Servicing, Inc., as special servicer (the "Special Servicer"), LaSalle Bank
National Association, as trustee and custodian (the "Trustee") and Wells Fargo
Bank, National Association, as paying agent, certificate registrar and
authenticating agent. In exchange for the Mortgage Loans and certain other
mortgage loans to be purchased by Purchaser (collectively the "Other Mortgage
Loans"), the Trust will issue to the Depositor pass-through certificates to be
known as Bear Stearns Commercial Mortgage Securities Inc., Commercial Mortgage
Pass-Through Certificates, Series 2006-TOP22 (the "Certificates"). The
Certificates will be issued pursuant to the Pooling and Servicing Agreement.

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

The Class A-1, Class A-2, Class A-3, Class A-AB, Class A-4, Class A-1A, Class
A-M and Class A-J Certificates (the "Public Certificates") will be sold by
Purchaser to Bear, Stearns & Co. Inc. and Morgan Stanley & Co. Incorporated (the
"Underwriters"), pursuant to an Underwriting Agreement, between Purchaser and
the Underwriters, dated April 6, 2006 (the "Underwriting Agreement"), and the
Class X, Class B, Class C, Class D, Class E, Class F, Class G, Class H, Class J,
Class K, Class L, Class M, Class N, Class O, Class P, Class R-I, Class R-II and
Class R-III Certificates (the "Private Certificates") will be sold by Purchaser
to Bear, Stearns & Co. Inc. and Morgan Stanley & Co. Incorporated (the "Initial
Purchasers") pursuant to a Certificate Purchase Agreement, between Purchaser and
the Initial Purchasers, dated April 6, 2006 (the "Certificate Purchase
Agreement"). The Underwriters will offer the Public Certificates for sale
publicly pursuant to a Prospectus dated March 31, 2006, as supplemented by a
Prospectus Supplement dated April 6, 2006 (together, the "Prospectus
Supplement") and the Initial Purchasers will offer the Private Certificates for
sale in transactions exempt from the registration requirements of the Securities
Act of 1933 pursuant to a Private Placement Memorandum dated April 6, 2006 (the
"Memorandum").

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

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1. AGREEMENT TO PURCHASE.

1.1 Seller agrees to sell, and Purchaser agrees to purchase, on a servicing
released basis, the Mortgage Loans identified on the schedule (the "Mortgage
Loan Schedule") annexed hereto as Exhibit 1, as such schedule may be amended to
reflect the actual Mortgage Loans accepted by Purchaser pursuant to the terms
hereof. The Cut-Off Date with respect to the Mortgage Loans is April 1, 2006.
The Mortgage Loans will have an aggregate principal balance as of the close of
business on the Cut-Off Date, after giving effect to any payments due on or
before such date, whether or not received, of $414,206,083. The sale of the
Mortgage Loans shall take place on April 20, 2006 or such other date as shall be
mutually acceptable to the parties hereto (the "Closing Date"). The purchase
price to be paid by Purchaser for the Mortgage Loans shall equal the amount set
forth as such purchase price on Exhibit 3 hereto. The purchase price shall be
paid to Seller by wire transfer in immediately available funds on the Closing
Date.

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

2. CONVEYANCE OF MORTGAGE LOANS.

2.1 Effective as of the Closing Date, subject only to receipt of the
consideration referred to in Section 1 hereof and the satisfaction of the
conditions specified in Sections 6 and 7 hereof, Seller does hereby transfer,
assign, set over and otherwise convey to Purchaser, without recourse, except as
specifically provided herein all the right, title and interest of Seller, with
the understanding that a Servicing Rights Purchase and Sale Agreement, dated
April 1, 2006, will be executed by Seller and the Master Servicer, in and to the
Mortgage Loans identified on the Mortgage Loan Schedule as of the Closing Date.
The Mortgage Loan Schedule, as it may be amended from time to time on or prior
to the Closing Date, shall conform to the requirements of this Agreement and the
Pooling and Servicing Agreement. In connection with such transfer and
assignment, Seller shall deliver to or on behalf of the Trustee, on behalf of
Purchaser, on or prior to the Closing Date, the Mortgage Note (as described in
clause 2.2.1 hereof) for each Mortgage Loan and on or prior to the fifth
Business Day after the Closing Date, five limited powers of attorney
substantially in the form attached hereto as Exhibit 5 in favor of the Trustee
and the Special Servicer to empower the Trustee and, in the event of the failure
or incapacity of the Trustee, the Special Servicer, to submit for recording, at
the expense of Seller, any mortgage loan documents required to be recorded as
described in the Pooling and Servicing Agreement and any intervening assignments
with evidence of recording thereon that are required to be included in the
Mortgage Files (so long as original counterparts have previously been delivered
to the Trustee). Seller agrees to reasonably cooperate with the Trustee and the
Special Servicer in connection with any additional powers of attorney or
revisions thereto that are requested by such parties for purposes of such
recordation. The parties hereto agree that no such power of attorney shall be
used with respect to any Mortgage Loan by or under authorization by any party
hereto except to the extent that the absence of a document described in the
second preceding sentence with respect to such Mortgage Loan remains unremedied
as of the earlier of (i) the date

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

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

      2.2.1 The original Mortgage Note bearing all intervening endorsements,
endorsed "Pay to the order of LaSalle Bank National Association, as Trustee for
Bear Stearns Commercial Mortgage Securities Inc., Commercial Mortgage
Pass-Through Certificates, Series 2006-TOP22, without recourse, representation
or warranty" or if the original Mortgage Note is not included therein, then a
lost note affidavit, with a copy of the Mortgage Note attached thereto;

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

      2.2.3 The originals of all agreements modifying a Money Term or other
material modification, consolidation and extension agreements, if any, with
evidence of recording thereon, or if any such original modification,
consolidation or extension agreement has been delivered to the appropriate
recording office for recordation and either has not yet been returned on or
prior to the 45th day following the Closing Date with evidence of recordation
thereon or has been lost after recordation, a true copy of such modification,
consolidation or extension certified by Seller together with (i) in the case of
a delay caused by the public recording office,

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an Officer's Certificate of Seller stating that such original modification,
consolidation or extension agreement has been dispatched or sent to the
appropriate public recording official for recordation or (ii) in the case of an
original modification, consolidation or extension agreement that has been lost
after recordation, a certification by the appropriate county recording office
where such document is recorded that such copy is a true and complete copy of
the original recorded modification, consolidation or extension agreement, and
the originals of all assumption agreements, if any;

      2.2.4 An original Assignment of Mortgage for each Mortgage Loan, in form
and substance acceptable for recording, signed by the holder of record in favor
of "LaSalle Bank National Association, as Trustee for Bear Stearns Commercial
Mortgage Securities Inc., Commercial Mortgage Pass-Through Certificates, Series
2006-TOP22," provided, if the related Mortgage has been recorded in the name of
Mortgage Electronic Registration Systems, Inc. ("MERS") or its designee, no such
assignments will be required to be submitted for recording or filing and
instead, Seller shall take all actions as are necessary to cause the Trustee to
be shown as the owner of the related Mortgage on the record of MERS for purposes
of the system of recording transfers of beneficial ownership of mortgages
maintained by MERS and shall deliver to the Master Servicer and the Special
Servicer evidence confirming that the Trustee is shown as the owner on the
record of MERS;

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

      2.2.6 If the related Assignment of Leases is separate from the Mortgage,
the original of such Assignment of Leases with evidence of recording thereon or,
if such Assignment of Leases has not been returned on or prior to the 45th day
following the Closing Date from the applicable public recording office, a copy
of such Assignment of Leases certified by Seller to be a true and complete copy
of the original Assignment of Leases submitted for recording, together with (i)
an original of each assignment of such Assignment of Leases with evidence of
recording thereon and showing a complete recorded chain of assignment from the
named assignee to the holder of record, and if any such assignment of such
Assignment of Leases has not been returned from the applicable public recording
office, a copy of such assignment certified by Seller to be a true and complete
copy of the original assignment submitted for recording, and (ii) an original
assignment of such Assignment of Leases, in recordable form, signed by the
holder of record in favor of "LaSalle Bank National Association, as Trustee for
Bear Stearns Commercial Mortgage

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Securities Inc., Commercial Mortgage Pass-Through Certificates, Series
2006-TOP22," which assignment may be effected in the related Assignment of
Mortgage, provided, if the related Mortgage has been recorded in the name of
MERS or its designee, no assignment of Assignment of Leases in favor of the
Trustee will be required to be recorded or delivered and instead, Seller shall
take all actions as are necessary to cause the Trustee to be shown as the owner
of the related Mortgage on the record of MERS for purposes of the system of
recording transfers of beneficial ownership of mortgages maintained by MERS and
shall deliver to the Master Servicer and the Special Servicer evidence
confirming that the Trustee is shown as the owner on the record of MERS;

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

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

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

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

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

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

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

      2.2.13 The original environmental indemnity agreement, if any, related to
any Mortgage Loan;

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

      2.2.15 Any Environmental Insurance Policy;

      2.2.16 Any affidavit and indemnification agreement; and

      2.2.17 With respect to the Mervyns Portfolio Pari Passu Loan, a copy of
the MSCI 2006-TOP21 Pooling and Servicing Agreement.

      With respect to the Mervyns Portfolio Pari Passu Loan, the preceding
document delivery requirements will be met by the delivery by the Depositor of
copies of the documents specified above (other than the Mortgage Notes and all
intervening endorsements) evidencing the Mervyns Portfolio Pari Passu Loan,
including a copy of the related Pari Passu Mortgage.

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

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

2.3 The Assignments of Mortgage and assignment of Assignment of Leases referred
to in Sections 2.2.4 and 2.2.6 may be in the form of a single instrument
assigning the Mortgage and the Assignment of Leases to the extent permitted by
applicable law. To avoid the unnecessary

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expense and administrative inconvenience associated with the execution and
recording or filing of multiple assignments of mortgages, assignments of leases
(to the extent separate from the mortgages) and assignments of UCC financing
statements, Seller shall execute, in accordance with the third succeeding
paragraph, the assignments of mortgages, the assignments of leases (to the
extent separate from the mortgages) and the assignments of UCC financing
statements relating to the Mortgage Loans naming the Trustee on behalf of the
Certificateholders as assignee. Notwithstanding the fact that such assignments
of mortgages, assignments of leases (to the extent separate from the assignments
of mortgages) and assignments of UCC financing statements shall name the Trustee
on behalf of the Certificateholders as the assignee, the parties hereto
acknowledge and agree that the Mortgage Loans shall for all purposes be deemed
to have been transferred from Seller to Purchaser and from Purchaser to the
Trustee on behalf of the Certificateholders.

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

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

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

2.7 Documents that are in the possession of Seller, its agents or its
subcontractors that relate to the Mortgage Loans and that are not required to be
delivered to the Trustee shall be shipped by

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Seller to or at the direction of the Master Servicer, on behalf of Purchaser, on
or prior to the 75th day after the Closing Date, in accordance with Section 3.1
of the Primary Servicing Agreement, if applicable.

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

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

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

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

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

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

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      all substitute or replacement Mortgage Loans and all distributions with
      respect thereto, and the Mortgage Files;

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

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

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

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

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

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

                                       10
<PAGE>

3. EXAMINATION OF MORTGAGE FILES AND DUE DILIGENCE REVIEW.

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

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

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

3.4 Purchaser shall keep confidential any information regarding Seller and the
Mortgage Loans that has been delivered into Purchaser's possession and that is
not otherwise publicly available; provided, however, that such information shall
not be kept confidential (and the right to require confidentiality under any
confidentiality agreement is hereby waived) to the extent such information is
required to be included in the Memorandum or the Prospectus Supplement or
Purchaser is required by law or court order to disclose such information. If
Purchaser is required

                                       11
<PAGE>

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

4. REPRESENTATIONS AND WARRANTIES OF SELLER AND PURCHASER.

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

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

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

      4.1.3 No consent, approval, authorization or order of, registration or
filing with, or notice to, any governmental authority or court is required,
under federal or state law, for the execution, delivery and performance of or
compliance by Seller with this Agreement, or the

                                       12
<PAGE>

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

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

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

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

      4.1.7 To Seller's knowledge, Seller's Information (as defined in that
certain indemnification agreement, dated April 6, 2006, between Seller,
Purchaser, the Underwriters and the Initial Purchasers (the "Indemnification
Agreement")) does not contain any untrue statement of a material fact or omit to
state a material fact necessary to make the statements therein, in the light of
the circumstances under which they were made, not misleading. Notwithstanding
anything contained herein to the contrary, this subparagraph 4.1.7 shall run
exclusively to the benefit of Purchaser and no other party.

                                       13
<PAGE>

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

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

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

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

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

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

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

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

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

                                       14
<PAGE>

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

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

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

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

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

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

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

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

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

                                       15
<PAGE>

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

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

                                       16
<PAGE>

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

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

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

                                       17
<PAGE>

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

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

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

                                       18
<PAGE>

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

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

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

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

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

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

                                       19
<PAGE>

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

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

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

6. CLOSING.

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

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

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

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

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

      6.1.5 All other terms and conditions of this Agreement required to be
complied with on or before the Closing Date shall have been complied with, and
Seller and Purchaser shall have

                                       20
<PAGE>

the ability to comply with all terms and conditions and perform all duties and
obligations required to be complied with or performed after the Closing Date.

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

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

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

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

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

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

7.1 This Agreement duly executed by Purchaser and Seller.

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

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

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

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

                                       21
<PAGE>

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

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

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

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

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

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

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

                                       22
<PAGE>

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

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

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

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

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

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

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

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

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

7.14 An executed Bill of Sale in the form attached hereto as Exhibit 4.

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

9. NOTICES. All communications provided for or permitted hereunder shall be in
writing and shall be deemed to have been duly given if (a) personally delivered,
(b) mailed by registered or certified mail, postage prepaid and received by the
addressee, (c) sent by express courier

                                       23
<PAGE>

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

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

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

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

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

                                       24
<PAGE>

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

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

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

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

                                       25
<PAGE>

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

                                    BEAR STEARNS COMMERCIAL
                                    MORTGAGE, INC.

                                    By:   /s/ Richard A. Ruffer, Jr.
                                       -----------------------------------------
                                       Name:  Richard A. Ruffer, Jr.
                                       Title: Senior Managing Director

                                    BEAR STEARNS COMMERCIAL
                                    MORTGAGE SECURITIES INC.

                                    By:   /s/ Richard A. Ruffer, Jr.
                                       -----------------------------------------
                                       Name:  Richard A. Ruffer, Jr.
                                       Title: Vice President

<PAGE>

                                    EXHIBIT 1
                             MORTGAGE LOAN SCHEDULE

BSCMSI 2006 TOP22 Mortgage Loan Schedule

BSCMI

<TABLE>
<CAPTION>

                                                                                     Original
                                                                                     Term to
              Mortgage      Loan        Property       Cut-Off Date                  Maturity    Remaining      Orig.
              Loan Seller   Number      Name           Balance         Note Date     or ARD      Term           Amort.     Rate
<S>           <C>           <C>         <C>            <C>             <C>           <C>         <C>            <C>        <C>
19            BSCMI         46077       Mervyns -      $3,871,000      09/26/2005    84          78             IO         4.890%
                                        Carmel
                                        Mountain
                                        Plaza (II)
20            BSCMI         46077       Mervyns -      $3,283,000      09/26/2005    84          78             IO         4.890%
                                        Escondido
                                        (II)
21            BSCMI         46077       Mervyns -      $3,136,000      09/26/2005    84          78             IO         4.890%
                                        Oceanside
                                        (II)
22            BSCMI         46077       Mervyns -      $2,940,000      09/26/2005    84          78             IO         4.890%
                                        Sun Valley
                                        (II)
23            BSCMI         46077       Mervyns -      $2,793,000      09/26/2005    84          78             IO         4.890%
                                        Manteca (II)
24            BSCMI         46077       Mervyns -      $2,695,000      09/26/2005    84          78             IO         4.890%
                                        Elk Grove
                                        (II)
25            BSCMI         46077       Mervyns -      $2,646,000      09/26/2005    84          78             IO         4.890%
                                        Roseville
                                        (II)
26            BSCMI         46077       Mervyns -      $2,597,000      09/26/2005    84          78             IO         4.890%
                                        Highland
                                        (II)
27            BSCMI         46077       Mervyns -      $2,548,000      09/26/2005    84          78             IO         4.890%
                                        Vacaville
                                        (II)
28            BSCMI         46077       Mervyns -      $2,548,000      09/26/2005    84          78             IO         4.890%
                                        Fontana (II)
29            BSCMI         46077       Mervyns -      $2,499,000      09/26/2005    84          78             IO         4.890%
                                        Arbor Faire
                                        (II)
30            BSCMI         46077       Mervyns -      $2,499,000      09/26/2005    84          78             IO         4.890%
                                        McAllen (II)
31            BSCMI         46077       Mervyns -      $2,499,000      09/26/2005    84          78             IO         4.890%
                                        Moreno
                                        Valley (II)
32            BSCMI         46077       Mervyns -      $2,499,000      09/26/2005    84          78             IO         4.890%
                                        Morgan Hill
                                        (II)
33            BSCMI         46077       Mervyns -      $2,499,000      09/26/2005    84          78             IO         4.890%
                                        Temecula
                                        (II)
34            BSCMI         46077       Mervyns -      $2,450,000      09/26/2005    84          78             IO         4.890%
                                        East Hills
                                        (II)
35            BSCMI         46077       Mervyns -      $2,450,000      09/26/2005    84          78             IO         4.890%
                                        Rancho
                                        Cucamonga
                                        (II)
36            BSCMI         46077       Mervyns -      $2,450,000      09/26/2005    84          78             IO         4.890%
                                        Redlands
                                        (II)
37            BSCMI         46077       Mervyns -      $2,450,000      09/26/2005    84          78             IO         4.890%
                                        Ventura (II)
38            BSCMI         46077       Mervyns -      $2,450,000      09/26/2005    84          78             IO         4.890%
                                        Yarbrough
                                        (II)
39            BSCMI         46077       Mervyns -      $2,352,000      09/26/2005    84          78             IO         4.890%
                                        Point West
                                        (II)
40            BSCMI         46077       Mervyns -      $2,303,000      09/26/2005    84          78             IO         4.890%
                                        Hanford (II)
41            BSCMI         46077       Mervyns -      $2,156,000      09/26/2005    84          78             IO         4.890%
                                        Lodi (II)
42            BSCMI         46077       Mervyns -      $1,960,000      09/26/2005    84          78             IO         4.890%
                                        Turlock (II)
43            BSCMI         46077       Mervyns -      $1,617,000      09/26/2005    84          78             IO         4.890%
                                        Ridgecrest
                                        (II)
49            BSCMI         44954       1 Route 46     $24,000,000     12/14/2005    120         117            IO         5.467%
                                        West
52            BSCMI         44676       Sunrise        $21,200,000     10/31/2005    180         175            360        5.564%
                                        Plaza
54            BSCMI         41799       The            $19,500,000     04/14/2005    120         109            360        5.240%
                                        Chambers
                                        Hotel
56            BSCMI         43705       Blakely        $18,500,000     06/01/2005    120         110            IO         5.200%
                                        Hotel
57            BSCMI         44655       Bangor         $17,250,000     03/17/2006    60          60             IO         4.740%
                                        Parkade
58            BSCMI         44064       Woodlane       $16,960,000     06/30/2005    180         171            360        5.575%
                                        Crossing
63            BSCMI         43459       Federal        $15,962,251     01/30/2006    120         118            360        5.472%
                                        Express
                                        Facility
65            BSCMI         45648       Platnum        $4,370,000      02/13/2006    120         119            360        5.585%
                                        Portfolio -
                                        22554
                                        Ventura
                                        Blvd. (III)
66            BSCMI         45648       Platnum        $3,560,000      02/13/2006    120         119            360        5.585%
                                        Portfolio -
                                        16921
                                        Parthenia
                                        St. (III)
67            BSCMI         45648       Platnum        $3,040,000      02/13/2006    120         119            360        5.585%
                                        Portfolio -
                                        16909
                                        Parthenia
                                        St. (III)
68            BSCMI         45648       Platnum        $2,590,000      02/13/2006    120         119            360        5.585%
                                        Portfolio -
                                        14546
                                        Hamlin St.
                                        (III)
69            BSCMI         45648       Platnum        $1,440,000      02/13/2006    120         119            360        5.585%
                                        Portfolio -
                                        16861
                                        Parthenia
                                        St. (III)
71            BSCMI         44653       Lake View      $14,470,000     01/24/2006    60          58             IO         4.900%
                                        US GSA
                                        Center
75            BSCMI         43799       Webster        $13,000,000     03/17/2006    180         180            300        6.100%
                                        Square
77            BSCMI         42074       Marriott       $12,692,773     11/24/2004    126         110            300        5.688%
                                        Courtyard -
                                        Fort
                                        Lauderdale
79            BSCMI         45398       501 Route      $12,290,000     01/31/2006    120         118            360        5.454%
                                        17 South
83            BSCMI         45333       Rolling        $11,911,250     11/29/2005    120         116            IO         5.344%
                                        Meadows
                                        Shopping
                                        Center
86            BSCMI         45676       Carrier        $10,992,000     01/23/2006    60          58             IO         4.910%
                                        Towne
                                        Crossing
96            BSCMI         43872       Grand          $9,496,319      08/16/2005    120         113            300        5.467%
                                        Pacific
                                        Palisades
98            BSCMI         44727       1312-1320      $8,473,739      12/22/2005    180         177            360        5.848%
                                        3rd Street
                                        Promenade
101           BSCMI         45667       Super Stop     $8,100,000      01/04/2006    84          82             IO         5.245%
                                        & Shop -
                                        Hyde Park
108           BSCMI         44652       Paradise       $7,325,000      12/07/2005    60          57             IO         4.880%
                                        Largo
109           BSCMI         44955       Desert         $7,260,000      01/06/2006    120         118            IO         5.302%
                                        Square
114           BSCMI         45111       Port of Sale   $6,984,338      01/27/2006    120         118            360        5.797%
116           BSCMI         44092       Cedar Towers   $6,584,000      06/30/2005    180         171            360        5.575%
120           BSCMI         45562       4811 E. La     $5,980,575      12/29/2005    120         117            360        5.600%
                                        Palma Ave.
122           BSCMI         44235       Woodbridge     $5,900,000      01/19/2006    120         118            IO         5.298%
                                        Plaza
123           BSCMI         45678       McKesson       $5,760,000      12/30/2005    60          57             IO         4.940%
                                        Distribution
132           BSCMI         45270       Canyon         $5,000,000      01/12/2006    120         118            360        5.522%
                                        Lakes
                                        Shopping
                                        Center
133           BSCMI         45409       Tropicana      $5,000,000      01/17/2006    120         118            IO         5.238%
                                        Avenue
139           BSCMI         43542       Ramada Inn     $4,984,586      01/20/2006    120         118            300        5.950%
                                        Burbank
141           BSCMI         45968       200 & 300      $4,650,000      03/03/2006    120         120            300        6.014%
                                        Plaza Drive
169           BSCMI         44093       Sussex         $3,760,000      06/30/2005    180         171            360        5.345%
                                        House
                                        Apartments
172           BSCMI         44210       Walgreens -    $3,549,600      10/24/2005    84          79             IO         4.863%
                                        Dearborn
175           BSCMI         45007       CVS            $3,475,000      12/30/2005    60          57             IO         4.830%
                                        Jacksonville
182           BSCMI         45991       SunTrust       $1,816,624      02/16/2006    120         119            360        5.564%
                                        Bank (IV)
183           BSCMI         45991       AmSouth        $1,483,376      02/16/2006    120         119            360        5.564%
                                        Bank (IV)
186           BSCMI         44213       Walgreens -    $3,222,700      10/28/2005    84          79             IO         4.863%
                                        Rockford
206           BSCMI         42936       HH Gregg       $2,900,000      07/13/2005    84          76             IO         5.229%
                                        Eastgate
209           BSCMI         44212       Walgreens -    $2,816,700      01/23/2006    84          82             IO         4.863%
                                        Oshkosh
216           BSCMI         44211       Walgreens -    $2,624,600      02/13/2006    84          83             IO         4.863%
                                        Westland
225           BSCMI         44204       Walgreens -    $2,477,400      10/27/2005    84          79             IO         4.863%
                                        Livonia
245           BSCMI         45390       CVS - Aurora   $1,900,000      02/06/2006    84          83             IO         5.246%
250           BSCMI         44461       Eckerd -       $1,700,000      09/22/2005    60          54             IO         5.010%
                                        Chattanooga
256           BSCMI         45005       CVS Madison    $1,600,000      12/30/2005    84          81             IO         5.246%
262           BSCMI         45344       Prominence     $1,463,250      01/30/2006    60          58             IO         4.950%
                                        Point

<CAPTION>

              Monthly
              Debt
              Service      Seasoning     DEF        DEF/YM1       YM3        YM2         YM1.75      YM1.5       YM1.25      YM1
<S>           <C>          <C>           <C>        <C>           <C>        <C>         <C>         <C>         <C>         <C>
19            $15,774      6                                                                                                 47

20            $13,378      6                                                                                                 47

21            $12,779      6                                                                                                 47

22            $11,981      6                                                                                                 47

23            $11,381      6                                                                                                 47

24            $10,982      6                                                                                                 47

25            $10,782      6                                                                                                 47

26            $10,583      6                                                                                                 47

27            $10,383      6                                                                                                 47

28            $10,383      6                                                                                                 47

29            $10,183      6                                                                                                 47

30            $10,183      6                                                                                                 47

31            $10,183      6                                                                                                 47

32            $10,183      6                                                                                                 47

33            $10,183      6                                                                                                 47

34            $9,984       6                                                                                                 47

35            $9,984       6                                                                                                 47

36            $9,984       6                                                                                                 47

37            $9,984       6                                                                                                 47

38            $9,984       6                                                                                                 47

39            $9,584       6                                                                                                 47

40            $9,385       6                                                                                                 47

41            $8,786       6                                                                                                 47

42            $7,987       6                                                                                                 47

43            $6,589       6                                                                                                 47

49            $110,859     3                        88

52            $99,663      5             150

54            $86,333      11            84

56            $81,280      10            85

57            $68,138      0                                                                                                 23

58            $79,888      9             146

63            $90,565      2             93

65            $20,621      1             94

66            $16,799      1             94

67            $14,345      1             94

68            $12,222      1             94

69            $6,795       1             94

71            $59,086      2                                                                                                 23

75            $84,556      0             155

77            $81,297      16            85                                                                                  5

79            $56,634      2             93

83            $53,782      4                        85

86            $44,976      2                                                                                                 23

96            $58,763      7             88

98            $50,134      3             152

101           $35,404      2                                                                                                 47

108           $29,788      3                                                                                                 23

109           $32,523      2             91

114           $41,059      2             93
116           $31,013      9             146
120           $34,445      3             92

122           $26,410      2             92

123           $23,712      3                                                                                                 23

132           $23,328      2             91

133           $22,128      2             93

139           $32,062      2             93

141           $30,000      0             95

169           $16,980      9                                                                                                 146

172           $14,385      5                                                                                                 47

175           $13,987      3                                                                                                 23

182           $8,540       1             94

183           $6,973       1             94

186           $13,060      5                                                                                                 47

206           $12,637      8                                                                                                 47

209           $11,415      2                                                                                                 47

216           $10,636      1                                                                                                 47

225           $10,040      5                                                                                                 47

245           $8,306       1                                                                                                 47
250           $7,098       6                                                                                                 23

256           $6,995       3                                                                                                 47
262           $6,036       2                                                                                                 23

<CAPTION>

                                                                                                                Master      Primary
                                                                                        YM          Admin       Service     Service
              YM         5%         4%         3%        2%         1%       Open       Formula     Cost Rate   Fee Rate    Fee Rate
<S>           <C>        <C>        <C>        <C>       <C>        <C>      <C>        <C>         <C>         <C>         <C>
19                                                                           2          B           3.150       0.000       0.000

20                                                                           2          B           3.150       0.000       0.000

21                                                                           2          B           3.150       0.000       0.000

22                                                                           2          B           3.150       0.000       0.000

23                                                                           2          B           3.150       0.000       0.000

24                                                                           2          B           3.150       0.000       0.000

25                                                                           2          B           3.150       0.000       0.000

26                                                                           2          B           3.150       0.000       0.000

27                                                                           2          B           3.150       0.000       0.000

28                                                                           2          B           3.150       0.000       0.000

29                                                                           2          B           3.150       0.000       0.000

30                                                                           2          B           3.150       0.000       0.000

31                                                                           2          B           3.150       0.000       0.000

32                                                                           2          B           3.150       0.000       0.000

33                                                                           2          B           3.150       0.000       0.000

34                                                                           2          B           3.150       0.000       0.000

35                                                                           2          B           3.150       0.000       0.000

36                                                                           2          B           3.150       0.000       0.000

37                                                                           2          B           3.150       0.000       0.000

38                                                                           2          B           3.150       0.000       0.000

39                                                                           2          B           3.150       0.000       0.000

40                                                                           2          B           3.150       0.000       0.000

41                                                                           2          B           3.150       0.000       0.000

42                                                                           2          B           3.150       0.000       0.000

43                                                                           2          B           3.150       0.000       0.000

49                                                                           5          E           3.150       2.000       1.000

52                                                                           1                      3.150       2.000       1.000

54                                                                           1                      3.150       2.000       1.000

56                                                                           1                      3.150       2.000       1.000

57                                                                           2          B           3.150       2.000       1.000

58                                                                           1                      3.150       2.000       1.000

63                                                                           1                      3.150       2.000       1.000

65                                                                           1                      3.150       2.000       1.000

66                                                                           1                      3.150       2.000       1.000

67                                                                           1                      3.150       2.000       1.000

68                                                                           1                      3.150       2.000       1.000

69                                                                           1                      3.150       2.000       1.000

71                                                                           2          B           3.150       2.000       1.000

75                                                                           1                      3.150       2.000       1.000

77                                                                           1          G           7.150       2.000       5.000

79                                                                           1                      3.150       2.000       1.000

83                                                                           7          E           3.150       2.000       1.000

86                                                                           2          B           3.150       2.000       1.000

96                                                                           1                      7.150       2.000       5.000

98                                                                           1                      3.150       2.000       1.000

101                                                                          2          B           3.150       2.000       1.000

108                                                                          2          B           3.150       2.000       1.000

109                                                                          3                      3.150       2.000       1.000

114                                                                          1                      3.150       2.000       1.000
116                                                                          1                      3.150       2.000       1.000
120                                                                          1                      3.150       2.000       1.000

122                                                                          2                      3.150       2.000       1.000

123                                                                          2          B           3.150       2.000       1.000

132                                                                          3                      3.150       2.000       1.000

133                                                                          1                      3.150       2.000       1.000

139                                                                          1                      8.150       2.000       6.000

141                                                                          1                      3.150       2.000       1.000

169                                                                          1          M           3.150       2.000       1.000

172                                                                          2          B           3.150       2.000       1.000

175                                                                          2          B           3.150       2.000       1.000

182                                                                          1                      3.150       2.000       1.000

183                                                                          1                      3.150       2.000       1.000

186                                                                          2          B           3.150       2.000       1.000

206                                                                          2          B           3.150       2.000       1.000

209                                                                          2          B           3.150       2.000       1.000

216                                                                          2          B           3.150       2.000       1.000

225                                                                          2          B           3.150       2.000       1.000

245                                                                          2          B           3.150       2.000       1.000
250                                                                          2          B           3.150       2.000       1.000

256                                                                          2          B           3.150       2.000       1.000
262                                                                          2          B           3.150       2.000       1.000

<CAPTION>

              Master      Primary
              Excess      Excess
              Serv.       Servicing                           Other
              Fee Rate    Fee Rate     Deal       Trustee     Master
              (bps)       (bps)        Fees       Fee Rate    Fee
<S>           <C>         <C>          <C>        <C>         <C>
19            0.000       0.000        0.000      0.150       3.000

20            0.000       0.000        0.000      0.150       3.000

21            0.000       0.000        0.000      0.150       3.000

22            0.000       0.000        0.000      0.150       3.000

23            0.000       0.000        0.000      0.150       3.000

24            0.000       0.000        0.000      0.150       3.000

25            0.000       0.000        0.000      0.150       3.000

26            0.000       0.000        0.000      0.150       3.000

27            0.000       0.000        0.000      0.150       3.000

28            0.000       0.000        0.000      0.150       3.000

29            0.000       0.000        0.000      0.150       3.000

30            0.000       0.000        0.000      0.150       3.000

31            0.000       0.000        0.000      0.150       3.000

32            0.000       0.000        0.000      0.150       3.000

33            0.000       0.000        0.000      0.150       3.000

34            0.000       0.000        0.000      0.150       3.000

35            0.000       0.000        0.000      0.150       3.000

36            0.000       0.000        0.000      0.150       3.000

37            0.000       0.000        0.000      0.150       3.000

38            0.000       0.000        0.000      0.150       3.000

39            0.000       0.000        0.000      0.150       3.000

40            0.000       0.000        0.000      0.150       3.000

41            0.000       0.000        0.000      0.150       3.000

42            0.000       0.000        0.000      0.150       3.000

43            0.000       0.000        0.000      0.150       3.000

49            0.000       0.000        3.000      0.150       0.000

52            0.000       0.000        3.000      0.150       0.000

54            0.000       0.000        3.000      0.150       0.000

56            0.000       0.000        3.000      0.150       0.000

57            0.000       0.000        3.000      0.150       0.000

58            0.000       0.000        3.000      0.150       0.000

63            0.000       0.000        3.000      0.150       0.000

65            0.000       0.000        3.000      0.150       0.000

66            0.000       0.000        3.000      0.150       0.000

67            0.000       0.000        3.000      0.150       0.000

68            0.000       0.000        3.000      0.150       0.000

69            0.000       0.000        3.000      0.150       0.000

71            0.000       0.000        3.000      0.150       0.000

75            0.000       0.000        3.000      0.150       0.000

77            0.000       0.000        7.000      0.150       0.000

79            0.000       0.000        3.000      0.150       0.000

83            0.000       0.000        3.000      0.150       0.000

86            0.000       0.000        3.000      0.150       0.000

96            0.000       0.000        7.000      0.150       0.000

98            0.000       0.000        3.000      0.150       0.000

101           0.000       0.000        3.000      0.150       0.000

108           0.000       0.000        3.000      0.150       0.000

109           0.000       0.000        3.000      0.150       0.000

114           0.000       0.000        3.000      0.150       0.000
116           0.000       0.000        3.000      0.150       0.000
120           0.000       0.000        3.000      0.150       0.000

122           0.000       0.000        3.000      0.150       0.000

123           0.000       0.000        3.000      0.150       0.000

132           0.000       0.000        3.000      0.150       0.000

133           0.000       0.000        3.000      0.150       0.000

139           0.000       0.000        8.000      0.150       0.000

141           0.000       0.000        3.000      0.150       0.000

169           0.000       0.000        3.000      0.150       0.000

172           0.000       0.000        3.000      0.150       0.000

175           0.000       0.000        3.000      0.150       0.000

182           0.000       0.000        3.000      0.150       0.000

183           0.000       0.000        3.000      0.150       0.000

186           0.000       0.000        3.000      0.150       0.000

206           0.000       0.000        3.000      0.150       0.000

209           0.000       0.000        3.000      0.150       0.000

216           0.000       0.000        3.000      0.150       0.000

225           0.000       0.000        3.000      0.150       0.000

245           0.000       0.000        3.000      0.150       0.000
250           0.000       0.000        3.000      0.150       0.000

256           0.000       0.000        3.000      0.150       0.000
262           0.000       0.000        3.000      0.150       0.000
</TABLE>

                                       1-1
<PAGE>

                                    EXHIBIT 2
                    REPRESENTATIONS AND WARRANTIES REGARDING
                            INDIVIDUAL MORTGAGE LOANS

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

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

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

4. Lien; Valid Assignment. The Mortgage related to and delivered in connection
with each Mortgage Loan constitutes a valid and, subject to the exceptions set
forth in paragraph 13 below, enforceable first priority lien upon the related
Mortgaged Property, prior to all other liens and encumbrances, except for (a)
the lien for current real estate taxes and assessments not yet due and payable,
(b) covenants, conditions and restrictions, rights of way, easements and other
matters that are of public record and/or are referred to in the related lender's
title insurance policy, (c) exceptions and exclusions specifically referred to
in such lender's title insurance policy, (d) other matters to which like
properties are commonly subject, none of which matters referred to in clauses
(b), (c) or (d), individually or in the aggregate, materially interferes with
the security intended to be provided by such Mortgage, the marketability or
current use of the Mortgaged Property or the current ability of the Mortgaged
Property to generate operating income sufficient to service the Mortgage Loan
debt and (e) if such Mortgage Loan is cross-collateralized with any other
Mortgage Loan, the lien of the Mortgage for such other Mortgage Loan (the
foregoing items (a) through (e), the "Permitted Encumbrances"). The related
assignment of such Mortgage executed and delivered in favor of the Trustee is in
recordable form and constitutes a legal, valid and binding assignment,
sufficient to convey to the assignee named therein all of the assignor's right,
title and interest in, to and under such Mortgage. Such Mortgage, together with
any separate security agreements, chattel mortgages or equivalent instruments,
establishes and creates a valid and, subject to the exceptions set forth in
paragraph 13 below, enforceable security interest in favor of the holder thereof
in all of the related Mortgagor's personal property used in, and reasonably
necessary to operate, the related Mortgaged Property. In the case of a Mortgaged
Property operated as a hotel or an assisted living facility, the Mortgagor's
personal property includes all personal property that a prudent mortgage lender
making a similar Mortgage Loan would deem reasonably necessary to operate the
related Mortgaged Property as it is currently being operated. A Uniform
Commercial Code

                                      2-1
<PAGE>

financing statement has been filed and/or recorded in all places necessary to
perfect a valid security interest in such personal property, to the extent a
security interest may be so created therein, and such security interest is a
first priority security interest, subject to any prior purchase money security
interest in such personal property and any personal property leases applicable
to such personal property. Notwithstanding the foregoing, no representation is
made as to the perfection of any security interest in rents or other personal
property to the extent that possession or control of such items or actions other
than the filing of Uniform Commercial Code financing statements are required in
order to effect such perfection.

5. Assignment of Leases and Rents. The Assignment of Leases related to and
delivered in connection with each Mortgage Loan establishes and creates a valid,
subsisting and, subject to the exceptions set forth in paragraph 13 below,
enforceable first priority lien and first priority security interest in the
related Mortgagor's interest in all leases, sub-leases, licenses or other
agreements pursuant to which any person is entitled to occupy, use or possess
all or any portion of the real property subject to the related Mortgage, and
each assignor thereunder has the full right to assign the same. The related
assignment of any Assignment of Leases not included in a Mortgage has been
executed and delivered in favor of the Trustee and is in recordable form and
constitutes a legal, valid and binding assignment, sufficient to convey to the
assignee named therein all of the assignor's right, title and interest in, to
and under such Assignment of Leases.

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

7. Condition of Property; Condemnation. (i) With respect to the Mortgaged
Properties securing the Mortgage Loans that were the subject of an engineering
report within 18 months prior to the Cut-Off Date as set forth on Schedule A to
this Exhibit 2, each Mortgaged Property is, to Seller's knowledge, free and
clear of any damage (or adequate reserves therefor have been established) that
would materially and adversely affect its value as security for the related
Mortgage Loan, and (ii) with respect to the Mortgaged Properties securing the
Mortgage Loans that were not the subject of an engineering report within 18
months prior to the Cut-Off Date as set forth on Schedule A to this Exhibit 2,
each Mortgaged Property is in good repair and condition and all building systems
contained therein are in good working order (or adequate reserves therefor have
been established) and each Mortgaged Property is free of structural defects, in
each case, that would materially and adversely affect its value as security for
the related Mortgage Loan as of the date hereof. Seller has received no notice
of the commencement of any proceeding for the condemnation of all or any
material portion of any Mortgaged Property. To Seller's knowledge (based on
surveys and/or title insurance obtained in connection with the origination of
the Mortgage Loans), as of the date of the origination of each Mortgage Loan,
all of the material improvements on the related Mortgaged Property that were
considered in determining the appraised value of the Mortgaged Property lay
wholly within the boundaries

                                      2-2
<PAGE>

and building restriction lines of such property, except for encroachments that
are insured against by the lender's title insurance policy referred to herein or
that do not materially and adversely affect the value or marketability of such
Mortgaged Property, and no improvements on adjoining properties materially
encroached upon such Mortgaged Property so as to materially and adversely affect
the value or marketability of such Mortgaged Property, except those
encroachments that are insured against by the Title Policy referred to herein.

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

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

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

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

12. Environmental Conditions.

      (i)   Except as set forth on Schedule A to this Exhibit 2, with respect
            to the Mortgaged Properties securing the Mortgage Loans that were
            the subject of an environmental

                                      2-3
<PAGE>

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

                                      2-4
<PAGE>

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

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

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

14. Insurance. Each Mortgaged Property is, and is required pursuant to the
related Mortgage to be, insured by (a) a fire and extended perils insurance
policy providing coverage against loss or damage sustained by reason of fire,
lightning, windstorm, hail, explosion, riot, riot attending a strike, civil
commotion, aircraft, vehicles and smoke, and, to the extent required as of the
date of

                                      2-5
<PAGE>

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

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

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

17. Leasehold Estate. Each Mortgaged Property consists of a fee simple estate in
real estate or, if the related Mortgage Loan is secured in whole or in part by
the interest of a Mortgagor as a lessee under a ground lease of a Mortgaged
Property (a "Ground Lease"), by the related

                                      2-6
<PAGE>

Mortgagor's interest in the Ground Lease but not by the related fee interest in
such Mortgaged Property (the "Fee Interest"), and as to such Ground Leases:

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

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

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

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

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

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

                                      2-7
<PAGE>

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

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

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

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

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

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

                                      2-8
<PAGE>

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

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

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

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

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

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

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

                                      2-9
<PAGE>

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

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

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

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

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

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

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

                                      2-10
<PAGE>

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

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

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

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

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

39. Defeasance and Assumption Costs. The related Mortgage Loan documents provide
that the related borrower is responsible for the payment of all reasonable costs
and expenses of the

                                      2-11
<PAGE>

lender incurred in connection with the defeasance of such Mortgage Loan and the
release of the related Mortgaged Property, and the borrower is required to pay
all reasonable costs and expenses of the lender associated with the approval of
an assumption of such Mortgage Loan.

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

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

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

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

                                      2-12
<PAGE>

                                   Schedule A

                  Exceptions to Representations and Warranties

<PAGE>

                                   Schedule B

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

<PAGE>

                                   Schedule C

  List of Mortgage Loans Subject to Secured Creditor Impaired Property Policies

<PAGE>

                                    EXHIBIT 3
                               PRICING FORMULATION

                                BSCMSI 2006-TOP22

                               Pricing Formulation

     Mortgage Loan Sellers                             PRICING FORMULATION
--------------------------------------------------------------------------------
Bear Stearns:                                                        403,357,909
Morgan Stanley:                                                      503,152,643
Wells Fargo:                                                         509,881,880
PCF I:                                                                87,263,009
PCF II:                                                              178,858,344
--------------------------------------------------------------------------------
Deal                                                               1,682,513,786
================================================================================

                                       3-1
<PAGE>

                                    EXHIBIT 4
                                  BILL OF SALE

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

             Seller:           Bear Stearns Commercial Mortgage, Inc.

             Purchaser:        Bear Stearns Commercial Mortgage Securities Inc.

2. Sale. For value received, Seller hereby conveys to Purchaser, without
recourse, all right, title and interest in and to the Mortgage Loans identified
on Exhibit 1 (the "Mortgage Loan Schedule") to the Mortgage Loan Purchase
Agreement, dated as of April 6, 2006 (the "Mortgage Loan Purchase Agreement"),
between Seller and Purchaser and all of the following property:

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

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

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

3. Purchase Price. The amount and other consideration set forth on Exhibit 3 to
the Mortgage Loan Purchase Agreement.

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

                                      4-1
<PAGE>

IN WITNESS WHEREOF, each of the parties hereto has caused this Bill of Sale to
be duly executed and delivered on this 20th day of April 2006.

SELLER:                             BEAR STEARNS COMMERCIAL MORTGAGE, INC.

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

PURCHASER:                          BEAR STEARNS COMMERCIAL MORTGAGE
                                    SECURITIES INC.

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

<PAGE>

                                    EXHIBIT 5
                        FORM OF LIMITED POWER OF ATTORNEY

                                      5-1EXHIBIT 10.2

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

                       MORTGAGE LOAN PURCHASE AGREEMENT

                                   between

                    WELLS FARGO BANK, NATIONAL ASSOCIATION
                                  as Seller

                                     and

               BEAR STEARNS COMMERCIAL MORTGAGE SECURITIES INC.
                                 as Purchaser

                          Dated as of April 6, 2006

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

<PAGE>

                              TABLE OF CONTENTS

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

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

3.    EXAMINATION OF MORTGAGE FILES AND DUE DILIGENCE REVIEW................11

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

5.    REMEDIES UPON BREACH OF REPRESENTATIONS AND WARRANTIES MADE BY
      SELLER................................................................16

6.    CLOSING...............................................................21

7.    CLOSING DOCUMENTS.....................................................22

8.    COSTS.................................................................25

9.    NOTICES...............................................................25

10.   SEVERABILITY OF PROVISIONS............................................25

11.   FURTHER ASSURANCES....................................................25

12.   SURVIVAL..............................................................25

13.   GOVERNING LAW.........................................................26

14.   BENEFITS OF MORTGAGE LOAN PURCHASE AGREEMENT..........................26

15.   MISCELLANEOUS.........................................................26

16.   ENTIRE AGREEMENT......................................................26

Exhibit 1 Mortgage Loan Schedule
Exhibit 2 Representations and Warranties
Exhibit 3 Pricing Formulation
Exhibit 4 Bill of Sale
Exhibit 5 Power of Attorney

                            Index of Defined Terms

Affected Loan(s)..................18
Agreement..........................2
Certificate Purchase Agreement.....2
Certificates.......................2
Closing Date.......................3
Collateral Information............11
Crossed Mortgage Loans............17
Defective Mortgage Loan...........17
Final Judicial Determination......20
Indemnification Agreement.........14
Initial Purchasers.................2
Master Servicer....................2
Material Breach...................16
Material Document Defect..........16
Memorandum.........................2
MERS...............................5
Mortgage File......................4
Mortgage Loan Schedule.............3
Mortgage Loans.....................2
Officer's Certificate..............8
Other Mortgage Loans...............2
Pooling and Servicing Agreement....2
Private Certificates...............2
Prospectus Supplement..............2
Public Certificates................2
Purchaser..........................2
Repurchased Loan..................18
Seller.............................2
Special Servicer...................2
Trust..............................2
Trustee............................2
Underwriters.......................2
Underwriting Agreement.............2

                                       i
<PAGE>

                       MORTGAGE LOAN PURCHASE AGREEMENT
                                (WELLS LOANS)

Mortgage Loan Purchase Agreement ("Agreement"), dated as of April 6, 2006,
between Wells Fargo Bank, National Association ("Seller") and Bear Stearns
Commercial Mortgage Securities Inc. ("Purchaser").

Seller agrees to sell and Purchaser agrees to purchase certain mortgage loans
listed on Exhibit 1 hereto (the "Mortgage Loans") as described herein. Purchaser
will convey the Mortgage Loans to a trust (the "Trust") created pursuant to a
Pooling and Servicing Agreement (the "Pooling and Servicing Agreement"), to be
dated as of April 1, 2006 between Purchaser, as depositor, Wells Fargo Bank,
National Association, as master servicer (the "Master Servicer"), ARCap
Servicing, Inc., as special servicer (the "Special Servicer"), LaSalle Bank
National Association, as trustee (the "Trustee") and Wells Fargo Bank, National
Association, as paying agent and certificate registrar. In exchange for the
Mortgage Loans and certain other mortgage loans to be purchased by Purchaser
(collectively the "Other Mortgage Loans"), the Trust will issue to the Depositor
pass-through certificates to be known as Bear Stearns Commercial Mortgage
Securities Inc., Commercial Mortgage Pass-Through Certificates, Series
2006-TOP22 (the "Certificates"). The Certificates will be issued pursuant to the
Pooling and Servicing Agreement.

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

The Class A-1, Class A-2, Class A-3, Class A-AB, Class A-4, Class A-M and Class
A-J Certificates (the "Public Certificates") will be sold by Purchaser to Morgan
Stanley & Co. Incorporated and Bear, Stearns & Co. Inc. (the "Underwriters"),
pursuant to an Underwriting Agreement, between Purchaser and the Underwriters,
dated April 6, 2006 (the "Underwriting Agreement"), and the Class X, Class B,
Class C, Class D, Class E, Class F, Class G, Class H, Class J, Class K, Class L,
Class M, Class N, Class O, Class P, Class MM-NA, Class R-I, Class R-II and Class
R-III Certificates (the "Private Certificates") will be sold by Purchaser to
Morgan Stanley & Co. Incorporated and Bear, Stearns & Co. Inc. (the "Initial
Purchasers") pursuant to a Certificate Purchase Agreement, between Purchaser and
the Initial Purchasers, dated April 6, 2006 (the "Certificate Purchase
Agreement"). The Underwriters will offer the Public Certificates for sale
publicly pursuant to a Prospectus dated March 31, 2006, as supplemented by a
Prospectus Supplement dated April 6, 2006 (together, the "Prospectus
Supplement") and the Initial Purchasers will offer the Private Certificates for
sale in transactions exempt from the registration requirements of the Securities
Act of 1933 pursuant to a Private Placement Memorandum dated April 6, 2006 (the
"Memorandum").

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

<PAGE>

1. AGREEMENT TO PURCHASE.

1.1 Seller agrees to sell, and Purchaser agrees to purchase, on a servicing
released basis, the Mortgage Loans identified on the schedule (the "Mortgage
Loan Schedule") annexed hereto as Exhibit 1, as such schedule may be amended to
reflect the actual Mortgage Loans accepted by Purchaser pursuant to the terms
hereof. The Cut-Off Date with respect to the Mortgage Loans is April 1, 2006.
The Mortgage Loans will have an aggregate principal balance as of the close of
business on the Cut-Off Date, after giving effect to any payments due on or
before such date, whether or not received, of $511,471,346. The sale of the
Mortgage Loans shall take place on April 20, 2006 or such other date as shall be
mutually acceptable to the parties hereto (the "Closing Date"). The purchase
price to be paid by Purchaser for the Mortgage Loans shall equal the amount set
forth as such purchase price on Exhibit 3 hereto. The purchase price shall be
paid to Seller by wire transfer in immediately available funds on the Closing
Date.

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

2. CONVEYANCE OF MORTGAGE LOANS.

2.1 Effective as of the Closing Date, subject only to receipt of the
consideration referred to in Section 1 hereof and the satisfaction of the
conditions specified in Sections 6 and 7 hereof, Seller does hereby transfer,
assign, set over and otherwise convey to Purchaser, without recourse, except as
specifically provided herein all the right, title and interest of Seller, with
the understanding that a Servicing Rights Purchase and Sale Agreement, dated
April 1, 2006, will be executed by Seller and the Master Servicer, in and to the
Mortgage Loans identified on the Mortgage Loan Schedule as of the Closing Date.
The Mortgage Loan Schedule, as it may be amended from time to time on or prior
to the Closing Date, shall conform to the requirements of this Agreement and the
Pooling and Servicing Agreement. In connection with such transfer and
assignment, Seller shall deliver to or on behalf of the Trustee, on behalf of
Purchaser, on or prior to the Closing Date, the Mortgage Note (as described in
clause 2.2.1 hereof) for each Mortgage Loan and on or prior to the fifth
Business Day after the Closing Date, five limited powers of attorney
substantially in the form attached hereto as Exhibit 5 in favor of the Trustee
and the Special Servicer to empower the Trustee and, in the event of the failure
or incapacity of the Trustee, the Special Servicer, to submit for recording, at
the expense of Seller, any mortgage loan documents required to be recorded as
described in the Pooling and Servicing Agreement and any intervening assignments
with evidence of recording thereon that are required to be included in the
Mortgage Files (so long as original counterparts have previously been delivered
to the Trustee). Seller agrees to reasonably cooperate with the Trustee and the
Special Servicer in connection with any additional powers of attorney or
revisions thereto that are requested by such parties for purposes of such
recordation. The parties hereto agree that no such power of attorney shall be
used with respect to any Mortgage Loan by or under authorization by any party
hereto except to the extent that the absence of a document described in the
second preceding sentence with respect to such Mortgage Loan remains unremedied
as of the earlier of (i) the date

                                       3
<PAGE>

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

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

                  2.2.1 The original Mortgage Note bearing all intervening
            endorsements, endorsed "Pay to the order of LaSalle Bank National
            Association, as Trustee for Bear Stearns Commercial Mortgage
            Securities Inc., Commercial Mortgage Pass-Through Certificates,
            Series 2006-TOP22, without recourse, representation or warranty" or
            if the original Mortgage Note is not included therein, then a lost
            note affidavit, with a copy of the Mortgage Note attached thereto;

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

                  2.2.3 The originals of all agreements modifying a Money Term
            or other material modification, consolidation and extension
            agreements, if any,

                                       4
<PAGE>

            with evidence of recording thereon, or if any such original
            modification, consolidation or extension agreement has been
            delivered to the appropriate recording office for recordation and
            either has not yet been returned on or prior to the 45th day
            following the Closing Date with evidence of recordation thereon or
            has been lost after recordation, a true copy of such modification,
            consolidation or extension certified by Seller together with (i) in
            the case of a delay caused by the public recording office, an
            Officer's Certificate of Seller stating that such original
            modification, consolidation or extension agreement has been
            dispatched or sent to the appropriate public recording official for
            recordation or (ii) in the case of an original modification,
            consolidation or extension agreement that has been lost after
            recordation, a certification by the appropriate county recording
            office where such document is recorded that such copy is a true and
            complete copy of the original recorded modification, consolidation
            or extension agreement, and the originals of all assumption
            agreements, if any;

                  2.2.4 An original Assignment of Mortgage for each Mortgage
            Loan, in form and substance acceptable for recording, signed by the
            holder of record in favor of "LaSalle Bank National Association, as
            Trustee for Bear Stearns Commercial Mortgage Securities Inc.,
            Commercial Mortgage Pass-Through Certificates, Series 2006-TOP22,"
            provided, if the related Mortgage has been recorded in the name of
            Mortgage Electronic Registration Systems, Inc. ("MERS") or its
            designee, no such assignments will be required to be submitted for
            recording or filing and instead, Seller shall take all actions as
            are necessary to cause the Trustee to be shown as the owner of the
            related Mortgage on the record of MERS for purposes of the system of
            recording transfers of beneficial ownership of mortgages maintained
            by MERS and shall deliver to the Master Servicer and the Special
            Servicer evidence confirming that the Trustee is shown as the owner
            on the record of MERS;

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

                                       5
<PAGE>

                  2.2.6 If the related Assignment of Leases is separate from the
            Mortgage, the original of such Assignment of Leases with evidence of
            recording thereon or, if such Assignment of Leases has not been
            returned on or prior to the 45th day following the Closing Date from
            the applicable public recording office, a copy of such Assignment of
            Leases certified by Seller to be a true and complete copy of the
            original Assignment of Leases submitted for recording, together with
            (i) an original of each assignment of such Assignment of Leases with
            evidence of recording thereon and showing a complete recorded chain
            of assignment from the named assignee to the holder of record, and
            if any such assignment of such Assignment of Leases has not been
            returned from the applicable public recording office, a copy of such
            assignment certified by Seller to be a true and complete copy of the
            original assignment submitted for recording, and (ii) an original
            assignment of such Assignment of Leases, in recordable form, signed
            by the holder of record in favor of "LaSalle Bank National
            Association, as Trustee for Bear Stearns Commercial Mortgage
            Securities Inc., Commercial Mortgage Pass-Through Certificates,
            Series 2006-TOP22," which assignment may be effected in the related
            Assignment of Mortgage, provided, if the related Mortgage has been
            recorded in the name of MERS or its designee, no assignment of
            Assignment of Leases in favor of the Trustee will be required to be
            recorded or delivered and instead, Seller shall take all actions as
            are necessary to cause the Trustee to be shown as the owner of the
            related Mortgage on the record of MERS for purposes of the system of
            recording transfers of beneficial ownership of mortgages maintained
            by MERS and shall deliver to the Master Servicer and the Special
            Servicer evidence confirming that the Trustee is shown as the owner
            on the record of MERS;

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

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

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

                                       6
<PAGE>

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

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

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

                  2.2.13 The original environmental indemnity agreement, if any,
            related to any Mortgage Loan;

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

                                       7
<PAGE>

                  2.2.15 Any Environmental Insurance Policy; and

                  2.2.16 Any affidavit and indemnification agreement.

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

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

2.3 The Assignments of Mortgage and assignment of Assignment of Leases referred
to in Sections 2.2.4 and 2.2.6 may be in the form of a single instrument
assigning the Mortgage and the Assignment of Leases to the extent permitted by
applicable law. To avoid the unnecessary expense and administrative
inconvenience associated with the execution and recording or filing of multiple
assignments of mortgages, assignments of leases (to the extent separate from the
mortgages) and assignments of UCC financing statements, Seller shall execute, in
accordance with the third succeeding paragraph, the assignments of mortgages,
the assignments of leases (to the extent separate from the mortgages) and the
assignments of UCC financing statements relating to the Mortgage Loans naming
the Trustee on behalf of the Certificateholders as assignee. Notwithstanding the
fact that such assignments of mortgages, assignments of leases (to the extent
separate from the assignments of mortgages) and assignments of UCC financing
statements shall name the Trustee on behalf of the Certificateholders as the
assignee, the parties hereto acknowledge and agree that the Mortgage Loans shall
for all purposes be deemed to have been transferred from Seller to Purchaser and
from Purchaser to the Trustee on behalf of the Certificateholders.

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

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

                                       8
<PAGE>

commencing on the Cut-Off Date. All scheduled payments of principal and interest
due on or before the Cut-Off Date and collected after the Cut-Off Date shall
belong to Seller.

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

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

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

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

2.10 It is the express intent of the parties hereto that the conveyance of the
Mortgage Loans and related property to Purchaser by Seller as provided in this
Section 2 be, and be construed as, an absolute sale of the Mortgage Loans and
related property. It is, further, not the intention of the parties that such
conveyance be deemed a pledge of the Mortgage Loans and related property

                                       9
<PAGE>

by Seller to Purchaser to secure a debt or other obligation of Seller. However,
in the event that, notwithstanding the intent of the parties, the Mortgage Loans
or any related property are held to be the property of Seller, or if for any
other reason this Agreement is held or deemed to create a security interest in
the Mortgage Loans or any related property, then:

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

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

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

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

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

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

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

2.13 Seller shall, to the extent consistent with this Agreement, take such
reasonable actions as may be necessary to ensure that, if this Agreement were
deemed to create a security interest in

                                       10
<PAGE>

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

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

3. EXAMINATION OF MORTGAGE FILES AND DUE DILIGENCE REVIEW.

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

3.2 On or prior to the Closing Date, Seller shall allow representatives of any
of Purchaser, each Underwriter, each Initial Purchaser, the Trustee, the Special
Servicer and each Rating Agency to examine and audit all books, records and
files pertaining to the Mortgage Loans, Seller's underwriting procedures and
Seller's ability to perform or observe all of the terms, covenants and
conditions of this Agreement. Such examinations and audits shall take place at
one or more offices of Seller during normal business hours and shall not be
conducted in a manner that is disruptive to Seller's normal business operations
upon reasonable prior advance notice. In the course of such examinations and
audits, Seller will make available to such representatives of any of Purchaser,
each Underwriter, each Initial Purchaser, the Trustee, the Special Servicer and
each Rating Agency reasonably adequate facilities, as well as the assistance of
a sufficient number of knowledgeable and responsible individuals who are
familiar with the Mortgage Loans and the terms of this Agreement, and Seller
shall cooperate fully with any such examination and audit in all material
respects. On or prior to the Closing Date, Seller shall provide Purchaser with
all material information regarding Seller's financial condition and access

                                       11
<PAGE>

to knowledgeable financial or accounting officers for the purpose of answering
questions with respect to Seller's financial condition, financial statements as
provided to Purchaser or other developments affecting Seller's ability to
consummate the transactions contemplated hereby or otherwise affecting Seller in
any material respect. Within 45 days after the Closing Date, Seller shall
provide the Master Servicer or Primary Servicer, if applicable, with any
additional information identified by the Master Servicer or Primary Servicer, if
applicable, as necessary to complete the CMSA Property File, to the extent that
such information is available.

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

3.4 Purchaser shall keep confidential any information regarding Seller and the
Mortgage Loans that has been delivered into Purchaser's possession and that is
not otherwise publicly available; provided, however, that such information shall
not be kept confidential (and the right to require confidentiality under any
confidentiality agreement is hereby waived) to the extent such information is
required to be included in the Memorandum or the Prospectus Supplement or
Purchaser is required by law or court order to disclose such information. If
Purchaser is required to disclose in the Memorandum or the Prospectus Supplement
confidential information regarding Seller as described in the preceding
sentence, Purchaser shall provide to Seller a copy of the proposed form of such
disclosure prior to making such disclosure and Seller shall promptly, and in any
event within two Business Days, notify Purchaser of any inaccuracies therein, in
which case Purchaser shall modify such form in a manner that corrects such
inaccuracies. If Purchaser is required by law or court order to disclose
confidential information regarding Seller as described in the second preceding
sentence, Purchaser shall notify Seller and cooperate in Seller's efforts to
obtain a protective order or other reasonable assurance that confidential
treatment will be accorded such information and, if in the absence of a
protective order or such assurance, Purchaser is compelled as a matter of law to
disclose such information, Purchaser shall, prior to making such disclosure,
advise and consult with Seller and its counsel as to such disclosure and the
nature and wording of such disclosure and Purchaser shall use reasonable efforts
to obtain confidential treatment therefor. Notwithstanding the foregoing, if
reasonably advised by counsel that Purchaser is required by a regulatory agency
or court order to make such disclosure immediately, then Purchaser shall be
permitted to make such disclosure without prior review by Seller.

4. REPRESENTATIONS AND WARRANTIES OF SELLER AND PURCHASER.

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

                  4.1.1 Seller is duly organized and is validly existing as a
            national banking association in good standing under the laws of the
            United States. Seller

                                       12
<PAGE>

            has the requisite power and authority and legal right to own the
            Mortgage Loans and to transfer and convey the Mortgage Loans to
            Purchaser and has the requisite power and authority to execute and
            deliver, engage in the transactions contemplated by, and perform and
            observe the terms and conditions of, this Agreement.

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

                  4.1.3 No consent, approval, authorization or order of,
            registration or filing with, or notice to, any governmental
            authority or court is required, under federal or state law, for the
            execution, delivery and performance of or compliance by Seller with
            this Agreement, or the consummation by Seller of any transaction
            contemplated hereby, other than (A) such qualifications as may be
            required under state securities or blue sky laws, (B) the filing or
            recording of financing statements, instruments of assignment and
            other similar documents necessary in connection with Seller's sale
            of the Mortgage Loans to Purchaser, (C) such consents, approvals,
            authorizations, qualifications, registrations, filings or notices as
            have been obtained and (D) where the lack of such consent, approval,
            authorization, qualification, registration, filing or notice would
            not have a material adverse effect on the performance by Seller
            under this Agreement.

                  4.1.4 Neither the transfer of the Mortgage Loans to Purchaser,
            nor the execution, delivery or performance of this Agreement by
            Seller, conflicts or will conflict with, results or will result in a
            breach of, or constitutes or will constitute a default under (A) any
            term or provision of Seller's articles of organization or by-laws,
            (B) any term or provision of any material agreement, contract,
            instrument or indenture to which Seller is a party or by which it or
            any of its assets is bound or results in the creation or imposition
            of any lien, charge or encumbrance upon any of its property pursuant
            to the terms of any such indenture, mortgage, contract or other
            instrument, other than pursuant to this Agreement, or (C) after
            giving effect to the consents or taking of the actions contemplated
            in subsection 4.1.3, any law, rule, regulation, order, judgment,
            writ, injunction or decree of any court or governmental authority
            having jurisdiction over Seller or its assets, except where in any
            of the instances contemplated by clauses (B) or (C) above, any
            conflict, breach or default, or

                                       13
<PAGE>

            creation or imposition of any lien, charge or encumbrance, will not
            have a material adverse effect on the consummation of the
            transactions contemplated hereby by Seller or its ability to perform
            its obligations and duties hereunder or result in any material
            adverse change in the business, operations, financial condition,
            properties or assets of Seller, or in any material impairment of the
            right or ability of Seller to carry on its business substantially as
            now conducted.

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

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

                  4.1.7 To Seller's knowledge, Seller's Information (as defined
            in that certain indemnification agreement, dated April 6, 2006,
            between Seller, Purchaser, the Underwriters and the Initial
            Purchasers (the "Indemnification Agreement")) does not contain any
            untrue statement of a material fact or omit to state a material fact
            necessary to make the statements therein, in the light of the
            circumstances under which they were made, not misleading.
            Notwithstanding anything contained herein to the contrary, this
            subparagraph 4.1.7 shall run exclusively to the benefit of Purchaser
            and no other party.

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

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

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

                                       14
<PAGE>

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

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

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

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

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

                  4.2.4 Neither the purchase of the Mortgage Loans nor the
            execution, delivery and performance of this Agreement by Purchaser
            will violate Purchaser's certificate of incorporation or by-laws or
            constitute a default (or an event that, with notice or lapse of time
            or both, would constitute a default) under, or result in a breach
            of, any material agreement, contract, instrument or indenture to
            which Purchaser is a party or that may be applicable to Purchaser or
            its assets.

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

                                       15
<PAGE>

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

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

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

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

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

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

5.2 It is hereby further acknowledged that if any document required to be
delivered to the Trustee pursuant to Section 2 is not delivered as and when
required, not properly executed or is defective on its face, or if there is a
breach of any of the representations and warranties required to be made by
Seller regarding the characteristics of the Mortgage Loans and/or the related
Mortgaged Properties as set forth in Exhibit 2 hereto, and in either case the
party discovering such breach or defect determines that either (i) the defect or
breach materially and adversely affects the interests of the holders of the
Certificates in the related Mortgage Loan or (ii) both (A) the defect or breach
materially and adversely affects the value of the Mortgage Loan and (B) the
Mortgage Loan is a Specially Serviced Mortgage Loan or Rehabilitated Mortgage
Loan (any such defect described in the preceding clause (i) or (ii), a "Material
Document Defect" and any such breach described in the preceding clause (i) or
(ii), a "Material Breach"), the party determining that such Material Document
Defect or Material Breach exists shall promptly notify, in writing, the other
parties; provided that any breach of the representation and warranty contained
in paragraph (41) of such Exhibit 2 shall constitute a Material Breach only if
such prepayment premium or yield maintenance charge is not deemed "customary"
for commercial mortgage loans as evidenced by (i) an opinion of tax counsel to
such effect or (ii) a

                                       16
<PAGE>

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

5.3 Seller hereby covenants and agrees that, if any such Material Document
Defect or Material Breach cannot be corrected or cured or Seller otherwise fails
to correct or cure within the above cure periods, Seller shall, on or before the
termination of such cure periods, either (i) repurchase the affected Mortgage
Loan or REO Mortgage Loan (or interest therein) from Purchaser or its assignee
at the Purchase Price as defined in the Pooling and Servicing Agreement, or (ii)
if within the three-month period commencing on the Closing Date (or within the
two-year period commencing on the Closing Date if the related Mortgage Loan is a
"defective obligation" within the meaning of Section 860G(a)(4)(B)(ii) of the
Code and Treasury Regulation Section 1.860G-2(f)), at its option replace,
without recourse, any Mortgage Loan or REO Mortgage Loan to which such defect
relates with a Qualifying Substitute Mortgage Loan. If such Material Document
Defect or Material Breach would cause the Mortgage Loan to be other than a
"qualified mortgage" (as defined in the Code), then notwithstanding the previous
sentence or the previous paragraph, repurchase must occur within 85 days from
the date Seller was notified of the defect. Seller agrees that any substitution
shall be completed in accordance with the terms and conditions of the Pooling
and Servicing Agreement.

5.4 If (x) a Mortgage Loan is to be repurchased or replaced as contemplated
above (a "Defective Mortgage Loan"), (y) such Defective Mortgage Loan is
cross-collateralized and cross-defaulted with one or more other Mortgage Loans
("Crossed Mortgage Loans") and (z) the applicable document defect or breach does
not constitute a Material Document Defect or Material Breach, as the case may
be, as to such Crossed Mortgage Loans (without regard to this

                                       17
<PAGE>

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

5.5 With respect to any Defective Mortgage Loan, to the extent that Seller is
required to repurchase or substitute for such Defective Mortgage Loan (each, a
"Repurchased Loan") in the manner prescribed above while the Trustee (as
assignee of Purchaser) continues to hold any Crossed Mortgage Loan, Seller and
Purchaser hereby agree to forebear from enforcing any remedies against the
other's Primary Collateral but may exercise remedies against the Primary
Collateral securing their respective Mortgage Loans, including with respect to
the Trustee, the Primary Collateral securing the Mortgage Loans still held by
the Trustee, so long as such exercise does not impair the ability of the other
party to exercise its remedies against its Primary Collateral. If the exercise
of remedies by one party would impair the ability of the other party to exercise
its remedies with respect to the Primary Collateral securing the Mortgage Loan
or Mortgage Loans held by such party, then both parties shall forbear from
exercising such remedies until the loan documents evidencing and securing the
relevant Mortgage Loans can be modified in a manner that complies with the
Pooling and Servicing Agreement to remove the threat of impairment as a result
of the exercise of remedies. Any reserve or other cash collateral or letters of
credit securing the Crossed Mortgage Loans shall be allocated between such
Mortgage Loans in accordance with the Mortgage Loan documents, or otherwise on a
pro rata

                                       18
<PAGE>

basis based upon their outstanding Principal Balances. All other terms of the
Mortgage Loans shall remain in full force and effect, without any modification
thereof. The Mortgagors set forth on Schedule B hereto are intended third-party
beneficiaries of the provisions set forth in this paragraph and the preceding
paragraph. The provisions of this paragraph and the preceding paragraph may not
be modified with respect to any Mortgage Loan without the related Mortgagor's
consent.

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

5.7 If Seller disputes that a Material Document Defect or Material Breach exists
with respect to a Mortgage Loan or otherwise refuses (i) to effect a correction
or cure of such Material Document Defect or Material Breach, (ii) to repurchase
the affected Mortgage Loan from Purchaser or its assignee or (iii) to replace
such Mortgage Loan with a Qualifying Substitute Mortgage Loan, each in
accordance with this Agreement, then provided that (i) the period of time
provided for Seller to correct, repurchase or cure has expired and (ii) the
Mortgage Loan is then in default and is then a Specially Serviced Mortgage Loan,
the Special Servicer may, subject to the Servicing Standard, modify, work-out or
foreclose, sell or otherwise liquidate (or permit the liquidation of) the
Mortgage Loan pursuant to Sections 9.5, 9.12, 9.15 and 9.36, as applicable, of
the Pooling and Servicing Agreement, while pursuing the repurchase claim. Seller
acknowledges and agrees that any modification of the Mortgage Loan pursuant to a
work-out shall not constitute a defense to any repurchase claim nor shall such
modification and work-out change the Purchase Price due from Seller for any
repurchase claim. In the event of any such modification and work-out, Seller
shall be obligated to repurchase the Mortgage Loan as modified and the Purchase
Price shall include any Work-Out Fee paid to the Special Servicer up to the date
of repurchase plus the present value (calculated at a discount rate equal to the
applicable Mortgage Rate) of the Work-Out Fee that would have been payable to
the Special Servicer in respect of such Mortgage Loan if the Mortgage Loan
performed in accordance with its terms to its Maturity Date, provided that no
amount shall be paid by Seller in respect of any Work-Out Fee if a Liquidation
Fee already comprises a portion of the Purchase Price.

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

5.9 The fact that a Material Document Defect or Material Breach is not
discovered until after foreclosure (but in all instances prior to the sale of
the related REO Property or Mortgage Loan)

                                       19
<PAGE>

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

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

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

5.12 Notwithstanding the foregoing, in the event that there is a breach of the
representations and warranties set forth in paragraph 39 in Exhibit 2 hereto,
and as a result the payments, by a Mortgagor, of reasonable costs and expenses
associated with the defeasance or assumption of a Mortgage Loan are insufficient
causing the Trust to incur an Additional Trust Expense in an amount equal to
such reasonable costs and expenses not paid by such Mortgagor, Seller hereby
covenants and agrees to reimburse the Trust within 90 days of the receipt of
notice of such breach in an amount sufficient to avoid such Additional Trust
Expense. The parties hereto acknowledge that such reimbursement shall be
Seller's sole obligation with respect to the breach discussed in the previous
sentence.

5.13 The Pooling and Servicing Agreement shall provide that the Trustee (or the
Master Servicer or the Special Servicer on its behalf) shall give written notice
promptly (but in any event within three Business Days) to Seller of its
determination that any Material Document Defect or Material Breach exists (which
determination shall, absent evidence to the contrary, be presumed

                                       20
<PAGE>

to be no earlier than three Business Days prior to delivery of the notice) and
prompt written notice to Seller in the event that any Mortgage Loan becomes a
Specially Serviced Mortgage Loan (as defined in the Pooling and Servicing
Agreement).

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

6. CLOSING.

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

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

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

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

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

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

                                       21
<PAGE>

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

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

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

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

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

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

7.1 This Agreement duly executed by Purchaser and Seller.

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

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

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

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

7.6 An opinion of counsel (which, other than as to the opinion described in
paragraph 7.6.6 below, may be in-house counsel) to Seller, dated the Closing
Date, substantially to the effect of

                                       22
<PAGE>

the following (with such changes and modifications as Purchaser may approve and
subject to such counsel's reasonable qualifications):

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

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

                  7.6.3 No consent, approval, authorization or order of any
            federal court or governmental agency or body is required for the
            consummation by Seller of the transactions contemplated by the terms
            of this Agreement except any approvals as have been obtained. 7.6.4
            Neither the execution, delivery or performance of this Agreement by
            Seller, nor the consummation by Seller of any of the transactions
            contemplated by the terms of this Agreement (A) conflicts with or
            results in a breach or violation of, or constitutes a default under,
            the organizational documents of Seller, (B) to the knowledge of such
            counsel, constitutes a default under any term or provision of any
            material agreement, contract, instrument or indenture, to which
            Seller is a party or by which it or any of its assets is bound or
            results in the creation or imposition of any lien, charge or
            encumbrance upon any of its property pursuant to the terms of any
            such indenture, mortgage, contract or other instrument, other than
            pursuant to this Agreement, or (C) conflicts with or results in a
            breach or violation of any law, rule, regulation, order, judgment,
            writ, injunction or decree of any court or governmental authority
            having jurisdiction over Seller or its assets, except where in any
            of the instances contemplated by clauses (B) or (C) above, any
            conflict, breach or default, or creation or imposition of any lien,
            charge or encumbrance, will not have a material adverse effect on
            the consummation of the transactions contemplated hereby by Seller
            or materially and adversely affect its ability to perform its
            obligations and duties hereunder or result in any material adverse
            change in the business, operations, financial condition, properties
            or assets of Seller, or in any material impairment of the right or
            ability of Seller to carry on its business substantially as now
            conducted.

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

                  7.6.6 This Agreement is a valid, legal and binding agreement
            of Seller, enforceable against Seller in accordance with its terms,
            except as such enforcement may be limited by (1) laws relating to
            bankruptcy, insolvency, reorganization, receivership or moratorium,
            (2) other laws relating to or

                                       23
<PAGE>

            affecting the rights of creditors generally, (3) general equity
            principles (regardless of whether such enforcement is considered in
            a proceeding in equity or at law) or (4) public policy
            considerations underlying the securities laws, to the extent that
            such public policy considerations limit the enforceability of the
            provisions of this Agreement that purport to provide indemnification
            from liabilities under applicable securities laws.

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

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

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

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

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

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

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

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

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

7.14 An executed Bill of Sale in the form attached hereto as Exhibit 4.

                                       24
<PAGE>

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

9. NOTICES. All communications provided for or permitted hereunder shall be in
writing and shall be deemed to have been duly given if (a) personally delivered,
(b) mailed by registered or certified mail, postage prepaid and received by the
addressee, (c) sent by express courier delivery service and received by the
addressee, or (d) transmitted by telex or facsimile transmission (or any other
type of electronic transmission agreed upon by the parties) and confirmed by a
writing delivered by any of the means described in (a), (b) or (c), if (i) to
Purchaser, addressed to Bear Stearns Commercial Mortgage Securities Inc.,
addressed to Bear Stearns Commercial Mortgage Securities Inc., 383 Madison
Avenue, New York, New York 10179, Attention: J. Christopher Hoeffel, Senior
Managing Director, Commercial Mortgage Department (with a copy to the attention
of Joseph T. Jurkowski, Jr., Managing Director, Legal Department) (or such other
address as may hereafter be furnished in writing by Purchaser), or if (ii) to
Seller, addressed to Seller at Wells Fargo Bank, National Association, 225 West
Wacker Drive, Suite 2550, Chicago, Illinois 60606, Attention: Brigid Mattingly
(with a copy to the attention of Robert F. Darling, Esq., Wells Fargo Bank,
National Association, 633 Folsom Street, 7th Floor, MAC A0149-075, San
Francisco, California 94107) (or such other address as may hereafter be
furnished in writing by such entity).

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

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

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

                                       25
<PAGE>

in full force and effect, notwithstanding any restrictive or qualified
endorsement on the Mortgage Notes and notwithstanding subsequent termination of
this Agreement.

13. GOVERNING LAW. THIS AGREEMENT AND THE RIGHTS, DUTIES, OBLIGATIONS AND
RESPONSIBILITIES OF THE PARTIES HERETO SHALL BE GOVERNED BY AND CONSTRUED IN
ACCORDANCE WITH THE INTERNAL LAWS AND DECISIONS OF THE STATE OF NEW YORK. THE
PARTIES HERETO INTEND THAT THE PROVISIONS OF SECTION 5-1401 OF THE NEW YORK
GENERAL OBLIGATIONS LAW SHALL APPLY TO THIS AGREEMENT.

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

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

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

                                       26
<PAGE>

respect to the subject matter hereof. The express terms hereof control and
supersede any course of performance or usage of the trade inconsistent with any
of the terms hereof.

                                       27
<PAGE>

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

                                    WELLS FARGO BANK,
                                    NATIONAL ASSOCIATION

                                    By:  /s/ Bridget Mattingly
                                       -----------------------------------------
                                       Name:  Bridget Mattingly
                                       Title: Managing Director

                                    BEAR STEARNS COMMERCIAL
                                    MORTGAGE SECURITIES INC.

                                    By:   /s/ Richard A. Ruffer, Jr.
                                       -----------------------------------------
                                       Name:  Richard A. Ruffer, Jr.
                                       Title: Vice President

<PAGE>

                                    EXHIBIT 1
                             MORTGAGE LOAN SCHEDULE

                            WELLS FARGO LOAN SCHEDULE

BSCMSI 2006 TOP22 Mortgage Loan Schedule

WFB

<TABLE>
<CAPTION>

                                                                                       Original
        Mortgage                                                                       Term to
        Loan                                             Cut-Off                       Maturity    Remaining     Orig.
        Seller       Loan Number     Property Name       Date Balance   Note Date      or ARD      Term          Amort.      Rate
<S>     <C>          <C>             <C>                 <C>            <C>            <C>         <C>           <C>         <C>
45      WFB          310903747       12601 Fair Lakes    $35,000,000    01/11/2006     60          58            IO          5.440%
                                     Circle
48      WFB          310903101       60 Thompson         $29,000,000    10/11/2005     120         115           360         5.250%
                                     Street
61      WFB          310903559       Kohl's-Newbury      $16,120,000    03/03/2006     120         120           360         5.790%
                                     Park
64      WFB          310903752       Courtyard           $15,575,000    01/03/2006     120         118           312         5.750%
                                     Marriott,
                                     (Langhorne, PA)
74      WFB          610902795       Giant Food Store    $13,468,604    01/23/2006     120         118           360         5.560%
76      WFB          310903059       Holiday Inn Fargo   $12,782,633    09/21/2005     120         114           300         5.530%
81      WFB          310903704       Tamarack Garden     $11,989,361    02/06/2006     120         119           360         5.740%
                                     Apartments
82      WFB          530902207       Illumina at Lake    $11,988,866    02/07/2006     120         119           360         5.560%
                                     Union
85      WFB          310903678       Oak Ridge Estates   $11,000,000    12/22/2005     120         117           IO          5.420%
90      WFB          310903764       Rudgate Silver      $10,448,983    01/19/2006     72          70            240         5.300%
                                     Springs MHC
92      WFB          310903098       Markwins            $10,176,201    02/01/2006     120         118           360         5.540%
                                     Industrial
95      WFB          310902226       Hamburg Hills       $9,556,547     03/14/2006     108         107           348         5.170%
                                     Estates &
                                     Coventry Woods
97      WFB          310903814       A-American Sun      $9,187,863     02/07/2006     60          59            300         5.830%
                                     Valley
99      WFB          310903817       Comfort Inn         $8,472,671     01/25/2006     120         118           300         5.640%
                                     Pentagon
102     WFB          310903813       A-American La       $8,039,380     02/07/2006     60          59            300         5.830%
                                     Verne
103     WFB          310903490       Hilton Garden       $7,664,235     12/02/2005     120         117           300         5.570%
                                     Inn
                                     Minneapolis/Eden
                                     Prairie
104     WFB          310903716       Monterey Shore      $7,600,000     01/11/2006     60          58            360         5.750%
                                     Plaza
106     WFB          310903763       Meadow Brook        $7,383,207     01/19/2006     120         118           360         5.710%
                                     Place Apartments
107     WFB          310903877       Ventura Office      $7,350,000     02/07/2006     120         119           360         5.560%
                                     Building
110     WFB          310903546       Holiday Inn         $7,179,735     01/10/2006     120         118           300         6.620%
                                     Auburn
111     WFB          310903834       Las Palmas          $7,100,000     02/24/2006     120         119           360         5.585%
                                     Medical & Dental
                                     Building
113     WFB          310903871       LA Fitness          $6,994,029     02/07/2006     120         119           360         5.890%
                                     Hillsboro
118     WFB          310903903       Courtyard           $6,300,000     02/01/2006     120         118           312         5.830%
                                     Scranton
                                     Wilkes-Barre
121     WFB          310903719       Security Public     $5,956,715     01/25/2006     120         118           360         5.830%
                                     Storage -
                                     Bermuda Dunes
126     WFB          310903540       Tucson Fiesta       $5,581,904     12/27/2005     120         117           360         5.610%
                                     Center
127     WFB          310903864       Boise Airport       $5,400,000     02/16/2006     120         120           360         5.850%
                                     Industrial
130     WFB          310903761       South Point         $5,240,000     01/03/2006     120         118           360         5.610%
                                     Village
                                     Apartments
134     WFB          410903262       Planet Self         $5,000,000     12/07/2005     120         117           360         5.590%
                                     Storage -
                                     Somerville
135     WFB          410903789       675 Post Street     $4,995,384     02/10/2006     120         119           360         5.580%
                                     Garage
136     WFB          310903838       Westlake Office     $4,995,221     02/21/2006     60          59            360         5.440%
                                     Court
137     WFB          410903675       Whitman Green       $4,988,504     01/09/2006     120         118           360         5.630%
                                     Apartments
138     WFB          410903847       Burbank Media       $4,985,587     02/14/2006     120         119           360         5.750%
                                     Center
140     WFB          310903594       Walgreens -         $4,934,184     12/21/2005     120         117           360         5.670%
                                     Chicago
143     WFB          410901717       Security Public     $4,633,935     11/07/2005     120         116           360         6.510%
                                     Storage - Daly
                                     City
144     WFB          410903751       10838 Cara Mia      $4,520,998     02/02/2006     120         119           360         5.750%
                                     Industrial
145     WFB          310903091       Wildrose            $4,518,936     01/09/2006     120         118           360         5.260%
                                     Business Park
                                     Bldgs 15 and 16
148     WFB          410901716       Security Public     $4,485,038     11/08/2005     120         116           360         6.690%
                                     Storage - Salinas
149     WFB          310903339       Country Inn &       $4,472,158     12/22/2005     240         237           240         6.450%
                                     Suites By
                                     Carlson
                                     Scottsdale
150     WFB          410903263       Planet Self         $4,470,000     12/07/2005     120         117           360         5.730%
                                     Storage - Sasha
151     WFB          410901714       Security Public     $4,255,248     11/07/2005     120         116           360         6.510%
                                     Storage -
                                     Modesto (McHenry)
152     WFB          410903781       The Park Club       $4,250,000     01/25/2006     120         118           360         5.680%
                                     Apartments
153     WFB          410903313       Woodbridge Square   $4,186,326     12/29/2005     120         117           360         5.570%
155     WFB          410903744       San Mateo Retail    $4,060,000     01/31/2006     60          59            360         5.890%
158     WFB          620903461       Garden Grove        $4,000,000     11/23/2005     120         117           360         5.560%
                                     Secured Storage
165     WFB          410903720       Security Public     $3,911,418     01/25/2006     120         118           360         5.930%
                                     Storage - Santa
                                     Rosa
166     WFB          410903656       Boston Building     $3,891,250     01/10/2006     120         118           360         5.780%
168     WFB          310903917       Teleflex            $3,800,000     03/07/2006     120         120           360         5.700%
                                     Warehouse
173     WFB          410903520       Mount Prospect      $3,500,000     02/01/2006     120         118           360         5.630%
                                     Commons
174     WFB          410903248       Grand Market        $3,488,984     12/29/2005     120         117           360         5.750%
                                     Plaza
178     WFB          410903669       Warm Springs        $3,400,000     03/02/2006     180         180           180         6.000%
                                     Business Center
179     WFB          410903743       130 South Myers     $3,384,557     01/17/2006     120         118           240         5.930%
                                     Street Industrial
181     WFB          410902592       Aspen Medical       $3,340,000     03/02/2006     120         120           300         6.240%
                                     Phase II
184     WFB          410903222       Tuscany Plaza       $3,277,224     02/02/2006     120         119           360         5.920%
189     WFB          410902645A      Dollar General      $709,032       12/02/2005     120         117           300         5.910%
                                     Portfolio - N.
                                     Veterans Blvd.
                                     (V)
190     WFB          410902645B      Dollar General      $645,218       12/02/2005     120         117           300         5.910%
                                     Portfolio - W.
                                     Griffin Pkwy (V)
191     WFB          410902645C      Dollar General      $616,857       12/02/2005     120         117           300         5.910%
                                     Portfolio - S.
                                     Raul Longoria (V)
192     WFB          410902645D      Dollar General      $574,315       12/02/2005     120         117           300         5.910%
                                     Portfolio - Old
                                     Pearsall Road (V)
193     WFB          410902645E      Dollar General      $570,771       12/02/2005     120         117           300         5.910%
                                     Porfolio -
                                     Babcock Rd. (V)
194     WFB          410903560       Chardonnay East     $3,093,068     01/04/2006     120         118           360         5.800%
195     WFB          410903502       Stor Stuff          $3,092,696     12/19/2005     120         118           360         5.480%
                                     Lancaster
196     WFB          620903724       Windgate Village    $3,043,112     01/02/2006     120         118           360         5.740%
                                     Apartments
200     WFB          410903915       Summit Furniture    $3,000,000     03/10/2006     120         120           360         6.180%
                                     Building
201     WFB          410903728       SEMAG Shopping      $2,993,225     01/20/2006     120         118           360         5.740%
                                     Center
204     WFB          410903341       Narrows Creek       $2,942,888     12/29/2005     120         118           360         5.340%
                                     Townhomes
205     WFB          410903717       Security Public     $2,913,607     01/25/2006     120         118           360         5.930%
                                     Storage - Shaw
208     WFB          410903624       Sacramento ENT      $2,822,628     02/02/2006     120         119           360         5.950%
211     WFB          620903537       Continental Self    $2,791,070     12/02/2005     120         117           360         5.680%
                                     Storage-AZ
213     WFB          410903557       Midway              $2,700,000     11/22/2005     120         117           IO          5.670%
                                     Industrial
                                     Building
214     WFB          410903413       Glenbrook Plaza     $2,691,818     12/01/2005     120         117           360         5.950%
                                     - San Leandro
215     WFB          410903533       Security Public     $2,643,847     01/04/2006     120         118           360         5.570%
                                     Storage -
                                     Glendora
218     WFB          410903187       Allen Avenue        $2,600,000     10/25/2005     120         115           300         5.580%
                                     Self Storage
219     WFB          410903318       Security Public     $2,593,691     01/06/2006     120         118           360         5.300%
                                     Storage - Sparks
221     WFB          410903456       Hickory             $2,552,079     12/01/2005     120         117           360         5.840%
                                     Industrial
222     WFB          410903793       Hamilton Retail     $2,497,786     02/02/2006     120         119           360         5.745%
                                     Center
223     WFB          410903625       Pacific Terrace     $2,494,728     01/24/2006     120         118           360         6.160%
224     WFB          410903679       Roseridge Office    $2,492,352     12/07/2005     120         117           360         5.900%
                                     Building
226     WFB          620903108       DeSerpa - Abbott    $2,475,000     09/29/2005     120         115           IO          5.470%
                                     Commercial
229     WFB          620903723       Petco-Minneapolis   $2,429,447     01/13/2006     120         118           360         5.680%
230     WFB          410902732       Sun Coast           $2,397,850     02/02/2006     120         119           360         5.700%
                                     Gateway MHP
233     WFB          410903353       PTK Building        $2,350,000     12/05/2005     120         117           360         5.920%
234     WFB          310903824       Williamson Creek    $2,345,000     01/30/2006     120         118           360         5.660%
                                     Apartments
235     WFB          410903585       Von Karman -        $2,344,641     01/19/2006     120         118           360         5.680%
                                     McGaw
238     WFB          410903373       845 Harbor Blvd     $2,189,720     12/12/2005     120         117           300         5.530%
239     WFB          410903810       Rite Aid - Flint    $2,148,142     02/02/2006     120         119           360         5.840%
240     WFB          410901715       Security Public     $2,137,526     11/28/2005     120         116           360         6.470%
                                     Storage - Manteca
241     WFB          410903534       Security Public     $2,095,140     01/04/2006     120         118           360         5.590%
                                     Storage - Moreno
                                     Valley
242     WFB          410903535       Security Public     $2,095,140     01/03/2006     120         118           360         5.590%
                                     Storage -
                                     Blackstone
243     WFB          410903282       15751 Roxford       $1,995,295     01/05/2006     120         118           360         5.490%
                                     Street
                                     Industrial
                                     Building
244     WFB          410903738       Qwest Building      $1,975,192     01/12/2006     120         118           120         6.000%
246     WFB          410903661       U Stow N Go         $1,895,610     01/10/2006     120         118           360         5.600%
247     WFB          410903429       Leon                $1,841,534     01/06/2006     120         118           240         5.860%
                                     International
                                     Office/Warehouse
248     WFB          410903811       Cubby Hole Texas    $1,794,111     02/24/2006     120         119           180         6.000%
251     WFB          410903430       The Ohio Building   $1,700,000     11/21/2005     84          81            360         5.660%
253     WFB          410903591       University          $1,678,514     01/04/2006     120         118           120         5.630%
                                     Square Apartment
254     WFB          410903809       Sunrise Shopping    $1,648,164     02/17/2006     60          59            300         6.680%
                                     Center
255     WFB          410903343       Desert Depot        $1,632,980     12/16/2005     180         177           180         6.060%
257     WFB          620903746       Castle Plaza        $1,600,000     01/03/2006     120         118           360         5.770%
                                     Shopping Center
258     WFB          620903296       New York Carpets    $1,593,397     11/14/2005     120         116           360         5.650%
259     WFB          410903835       Wasatch Point       $1,575,000     02/13/2006     120         120           360         6.010%
                                     Industrial
                                     Building
260     WFB          410903272       Palm Crossing       $1,495,125     12/20/2005     120         117           360         5.580%
261     WFB          410901568       3528 Garfield       $1,493,968     05/05/2004     120         99            300         6.480%
                                     Avenue
263     WFB          410903653       Tractor Supply -    $1,448,839     02/02/2006     120         119           360         6.130%
                                     Paris, Tennessee
264     WFB          410903827       Rock Springs        $1,299,011     02/02/2006     120         119           360         6.320%
266     WFB          410903786       Walgreens -         $1,250,000     01/19/2006     120         119           360         5.880%
                                     Avondale, AZ
267     WFB          410903768       200 West Bullard    $1,110,363     02/01/2006     120         119           360         6.140%
                                     Office
269     WFB          620903655       Washington          $1,061,749     12/20/2005     120         118           360         6.140%
                                     Mutual Building,
                                     Edgewater
271     WFB          620903795       1335 Dayton         $999,214       02/01/2006     120         119           360         6.200%
                                     Street

<CAPTION>

        Monthly
        Debt
        Service      Seasoning    DEF        DEF/YM1       YM3        YM2        YM1.75      YM1.5       YM1.25      YM1        YM
<S>     <C>          <C>          <C>        <C>           <C>        <C>        <C>         <C>         <C>         <C>        <C>
45      $160,870     2                       30

48      $128,637     5            87

61      $78,859      0                       92

64      $75,667      2                       81

74      $77,160      2            83
76      $79,449      6            81
81      $69,953      1            81

82      $68,587      1                       81

85      $50,373      3            81
90      $71,047      2            42

92      $58,171      2            81

95      $53,117      1            79

97      $58,323      1            21

99      $52,910      2            90

102     $51,033      1            21

103     $47,607      3            81

104     $36,922      2                       31

106     $42,997      2            83

107     $34,528      1                       81

110     $49,156      2                       81

111     $33,504      1            81

113     $41,475      1            81

118     $31,033      2                       81

121     $35,143      2            83

126     $32,184      3            82

127     $31,857      0            83

130     $24,837      2            81

134     $23,615      3                       88

135     $28,641      1            81

136     $28,202      1                       31                                                                      2

137     $28,799      2            81

138     $29,120      1            81

140     $28,636      3            81

143     $29,422      4                       83

144     $26,407      1                       81

145     $25,043      2            81

148     $29,008      4                       83

149     $33,418      3            201

150     $21,641      3                       88

151     $27,017      4                       83

152     $20,396      2                       83

153     $24,032      3            81
155     $20,205      1            21
158     $18,791      3            81

165     $23,326      2            83

166     $22,834      2                       81
168     $22,055      0            83

173     $16,649      2            81

174     $20,425      3            81

178     $28,691      0            143

179     $24,222      2                       81

181     $22,012      0            81

184     $19,497      1            82
189     $4,549       3            81

190     $4,140       3            81

191     $3,958       3            81

192     $3,685       3            81

193     $3,662       3            81

194     $18,189      2                       81
195     $17,563      2            81

196     $17,780      2            83

200     $18,335      0                       78

201     $17,488      2            78

204     $16,455      2                       83

205     $17,376      2            83

208     $16,847      1            83
211     $16,216      3                       81

213     $12,935      3            81

214     $16,101      3                       81

215     $15,163      2            83

218     $12,258      5                       78

219     $14,438      2            83

221     $15,086      3                       81

222     $14,581      1                       81

223     $15,247      2            81
224     $14,828      3                       81

226     $11,439      5                       81

229     $14,102      2            81
230     $13,930      1            81

233     $11,754      3                       81
234     $11,214      2            81

235     $13,610      2                       81

238     $13,549      3                       81
239     $12,670      1            81
240     $13,516      4                       83

241     $12,042      2            83

242     $12,042      2            83

243     $11,343      2            81

244     $22,204      2                       81
246     $10,908      2            83
247     $13,105      2            81

248     $15,189      1            81
251     $8,130       3                       45
253     $18,559      2            81

254     $11,327      1                       21

255     $13,977      3                       141
257     $7,800       2                       81

258     $9,236       4                       81
259     $9,453       0            81

260     $8,592       3                       81
261     $10,359      21                      71                                                                      10

263     $8,815       1            83

264     $8,064       1                       81
266     $6,210       1                       81

267     $6,763       1            81

269     $6,475       2                       81

271     $6,125       1                       81

<CAPTION>

                                                                                                                     Master
                                                                                                                     Excess
                                                                                                                     Serv.
                                                                                  Admin      Master      Primary     Fee
                                                                                  Cost       Service     Service     Rate
        5%        4%        3%        2%        1%        Open       YM Formula   Rate       Fee Rate    Fee Rate    (bps)
<S>     <C>       <C>       <C>       <C>       <C>       <C>        <C>          <C>        <C>         <C>         <C>
45                                                        4          C            3.150      2.000       1.000       0.000

48                                                        4                       3.150      2.000       1.000       0.000

61                                                        4          C            3.150      2.000       1.000       0.000

64                                                        4          C            3.150      2.000       1.000       0.000

74                                                        2                       8.150      2.000       6.000       0.000
76                                                        4                       3.150      2.000       1.000       0.000
81                                                        4                       3.150      2.000       1.000       0.000

82                                                        4          C            3.150      2.000       1.000       0.000

85                                                        4                       3.150      2.000       1.000       0.000
90                                                        4                       3.150      2.000       1.000       0.000

92                                                        4                       3.150      2.000       1.000       0.000

95                                                        4                       3.150      2.000       1.000       0.000

97                                                        4                       3.150      2.000       1.000       0.000

99                                                        4                       3.150      2.000       1.000       0.000

102                                                       4                       3.150      2.000       1.000       0.000

103                                                       4                       3.150      2.000       1.000       0.000

104                                                       3          C            3.150      2.000       1.000       0.000

106                                                       2                       3.150      2.000       1.000       0.000

107                                                       4          C            3.150      2.000       1.000       0.000

110                                                       4          C            3.150      2.000       1.000       0.000

111                                                       4                       3.150      2.000       1.000       0.000

113                                                       4                       3.150      2.000       1.000       0.000

118                                                       4          C            3.150      2.000       1.000       0.000

121                                                       2                       3.150      2.000       1.000       0.000

126                                                       2                       3.150      2.000       1.000       0.000

127                                                       2                       3.150      2.000       1.000       0.000

130                                                       4                       3.150      2.000       1.000       0.000

134                                                       5          C            3.150      2.000       1.000       0.000

135                                                       4                       3.150      2.000       1.000       0.000

136                                                       4          C            3.150      2.000       1.000       0.000

137                                                       4                       3.150      2.000       1.000       0.000

138                                                       4                       3.150      2.000       1.000       0.000

140                                                       4                       3.150      2.000       1.000       0.000

143                                                       2          C            3.150      2.000       1.000       0.000

144                                                       4          C            3.150      2.000       1.000       0.000

145                                                       4                       3.150      2.000       1.000       0.000

148                                                       2          C            3.150      2.000       1.000       0.000

149                                                       4                       3.150      2.000       1.000       0.000

150                                                       5          C            3.150      2.000       1.000       0.000

151                                                       2          C            3.150      2.000       1.000       0.000

152                                                       2          C            3.150      2.000       1.000       0.000

153                                                       4                       3.150      2.000       1.000       0.000
155                                                       4                       3.150      2.000       1.000       0.000
158                                                       4                       8.150      2.000       6.000       0.000

165                                                       2                       3.150      2.000       1.000       0.000

166                                                       4          C            3.150      2.000       1.000       0.000
168                                                       2                       3.150      2.000       1.000       0.000

173                                                       4                       3.150      2.000       1.000       0.000

174                                                       4                       3.150      2.000       1.000       0.000

178                                                       2                       5.150      2.000       1.000       2.000

179                                                       4          C            5.150      2.000       1.000       2.000

181                                                       4                       3.150      2.000       1.000       0.000

184                                                       3                       3.150      2.000       1.000       0.000
189                                                       4                       15.150     2.000       1.000       12.000

190                                                       4                       15.150     2.000       1.000       12.000

191                                                       4                       15.150     2.000       1.000       12.000

192                                                       4                       15.150     2.000       1.000       12.000

193                                                       4                       15.150     2.000       1.000       12.000

194                                                       4          C            3.150      2.000       1.000       0.000
195                                                       4                       3.150      2.000       1.000       0.000

196                                                       2                       8.150      2.000       6.000       0.000

200                                                       7          C            3.150      2.000       1.000       0.000

201                                                       7                       3.150      2.000       1.000       0.000

204                                                       2          C            5.150      2.000       1.000       2.000

205                                                       2                       5.150      2.000       1.000       2.000

208                                                       2                       3.150      2.000       1.000       0.000
211                                                       4          C            8.150      2.000       6.000       0.000

213                                                       4                       3.150      2.000       1.000       0.000

214                                                       4          C            5.150      2.000       1.000       2.000

215                                                       2                       5.150      2.000       1.000       2.000

218                                                       7          C            5.150      2.000       1.000       2.000

219                                                       2                       3.150      2.000       1.000       0.000

221                                                       4          C            3.150      2.000       1.000       0.000

222                                                       4          C            3.150      2.000       1.000       0.000

223                                                       4                       3.150      2.000       1.000       0.000
224                                                       4          C            3.150      2.000       1.000       0.000

226                                                       4          C            10.150     2.000       6.000       2.000

229                                                       4                       10.150     2.000       6.000       2.000
230                                                       4                       5.150      2.000       1.000       2.000

233                                                       4          C            3.150      2.000       1.000       0.000
234                                                       4                       3.150      2.000       1.000       0.000

235                                                       4          C            7.150      2.000       1.000       4.000

238                                                       4          C            7.150      2.000       1.000       4.000
239                                                       4                       5.150      2.000       1.000       2.000
240                                                       2          C            7.150      2.000       1.000       4.000

241                                                       2                       7.150      2.000       1.000       4.000

242                                                       2                       7.150      2.000       1.000       4.000

243                                                       4                       7.150      2.000       1.000       4.000

244                                                       4          C            10.150     2.000       1.000       7.000
246                                                       2                       3.150      2.000       1.000       0.000
247                                                       4                       3.150      2.000       1.000       0.000

248                                                       4                       10.150     2.000       1.000       7.000
251                                                       4          C            10.150     2.000       1.000       7.000
253                                                       4                       12.150     2.000       1.000       9.000

254                                                       4          C            5.150      2.000       1.000       2.000

255                                                       4          C            12.150     2.000       1.000       9.000
257                                                       4          C            15.150     2.000       6.000       7.000

258                                                       4          C            15.150     2.000       6.000       7.000
259                                                       4                       3.150      2.000       1.000       0.000

260                                                       4          C            10.150     2.000       1.000       7.000
261                                                       4          C            10.150     2.000       1.000       7.000

263                                                       2                       10.150     2.000       1.000       7.000

264                                                       4          C            5.150      2.000       1.000       2.000
266                                                       4          C            12.150     2.000       1.000       9.000

267                                                       4                       10.150     2.000       1.000       7.000

269                                                       4          C            17.150     2.000       6.000       9.000

271                                                       4          C            12.150     2.000       6.000       4.000

<CAPTION>

        Primary
        Excess
        Servicing                           Other
        Fee Rate      Deal       Trustee    Master
        (bps)         Fees       Fee Rate   Fee
<S>     <C>           <C>        <C>        <C>
45      0.000         3.000      0.150      0.000

48      0.000         3.000      0.150      0.000

61      0.000         3.000      0.150      0.000

64      0.000         3.000      0.150      0.000

74      0.000         8.000      0.150      0.000
76      0.000         3.000      0.150      0.000
81      0.000         3.000      0.150      0.000

82      0.000         3.000      0.150      0.000

85      0.000         3.000      0.150      0.000
90      0.000         3.000      0.150      0.000

92      0.000         3.000      0.150      0.000

95      0.000         3.000      0.150      0.000

97      0.000         3.000      0.150      0.000

99      0.000         3.000      0.150      0.000

102     0.000         3.000      0.150      0.000

103     0.000         3.000      0.150      0.000

104     0.000         3.000      0.150      0.000

106     0.000         3.000      0.150      0.000

107     0.000         3.000      0.150      0.000

110     0.000         3.000      0.150      0.000

111     0.000         3.000      0.150      0.000

113     0.000         3.000      0.150      0.000

118     0.000         3.000      0.150      0.000

121     0.000         3.000      0.150      0.000

126     0.000         3.000      0.150      0.000

127     0.000         3.000      0.150      0.000

130     0.000         3.000      0.150      0.000

134     0.000         3.000      0.150      0.000

135     0.000         3.000      0.150      0.000

136     0.000         3.000      0.150      0.000

137     0.000         3.000      0.150      0.000

138     0.000         3.000      0.150      0.000

140     0.000         3.000      0.150      0.000

143     0.000         3.000      0.150      0.000

144     0.000         3.000      0.150      0.000

145     0.000         3.000      0.150      0.000

148     0.000         3.000      0.150      0.000

149     0.000         3.000      0.150      0.000

150     0.000         3.000      0.150      0.000

151     0.000         3.000      0.150      0.000

152     0.000         3.000      0.150      0.000

153     0.000         3.000      0.150      0.000
155     0.000         3.000      0.150      0.000
158     0.000         8.000      0.150      0.000

165     0.000         3.000      0.150      0.000

166     0.000         3.000      0.150      0.000
168     0.000         3.000      0.150      0.000

173     0.000         3.000      0.150      0.000

174     0.000         3.000      0.150      0.000

178     0.000         3.000      0.150      0.000

179     0.000         3.000      0.150      0.000

181     0.000         3.000      0.150      0.000

184     0.000         3.000      0.150      0.000
189     0.000         3.000      0.150      0.000

190     0.000         3.000      0.150      0.000

191     0.000         3.000      0.150      0.000

192     0.000         3.000      0.150      0.000

193     0.000         3.000      0.150      0.000

194     0.000         3.000      0.150      0.000
195     0.000         3.000      0.150      0.000

196     0.000         8.000      0.150      0.000

200     0.000         3.000      0.150      0.000

201     0.000         3.000      0.150      0.000

204     0.000         3.000      0.150      0.000

205     0.000         3.000      0.150      0.000

208     0.000         3.000      0.150      0.000
211     0.000         8.000      0.150      0.000

213     0.000         3.000      0.150      0.000

214     0.000         3.000      0.150      0.000

215     0.000         3.000      0.150      0.000

218     0.000         3.000      0.150      0.000

219     0.000         3.000      0.150      0.000

221     0.000         3.000      0.150      0.000

222     0.000         3.000      0.150      0.000

223     0.000         3.000      0.150      0.000
224     0.000         3.000      0.150      0.000

226     0.000         8.000      0.150      0.000

229     0.000         8.000      0.150      0.000
230     0.000         3.000      0.150      0.000

233     0.000         3.000      0.150      0.000
234     0.000         3.000      0.150      0.000

235     0.000         3.000      0.150      0.000

238     0.000         3.000      0.150      0.000
239     0.000         3.000      0.150      0.000
240     0.000         3.000      0.150      0.000

241     0.000         3.000      0.150      0.000

242     0.000         3.000      0.150      0.000

243     0.000         3.000      0.150      0.000

244     0.000         3.000      0.150      0.000
246     0.000         3.000      0.150      0.000
247     0.000         3.000      0.150      0.000

248     0.000         3.000      0.150      0.000
251     0.000         3.000      0.150      0.000
253     0.000         3.000      0.150      0.000

254     0.000         3.000      0.150      0.000

255     0.000         3.000      0.150      0.000
257     0.000         8.000      0.150      0.000

258     0.000         8.000      0.150      0.000
259     0.000         3.000      0.150      0.000

260     0.000         3.000      0.150      0.000
261     0.000         3.000      0.150      0.000

263     0.000         3.000      0.150      0.000

264     0.000         3.000      0.150      0.000
266     0.000         3.000      0.150      0.000

267     0.000         3.000      0.150      0.000

269     0.000         8.000      0.150      0.000

271     0.000         8.000      0.150      0.000

</TABLE>

                                       1-1
<PAGE>

                                    EXHIBIT 2
                    REPRESENTATIONS AND WARRANTIES REGARDING
                            INDIVIDUAL MORTGAGE LOANS

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

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

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

4. Lien; Valid Assignment. The Mortgage related to and delivered in connection
with each Mortgage Loan constitutes a valid and, subject to the exceptions set
forth in paragraph 13 below, enforceable first priority lien upon the related
Mortgaged Property, prior to all other liens and encumbrances, except for (a)
the lien for current real estate taxes and assessments not yet due and payable,
(b) covenants, conditions and restrictions, rights of way, easements and other
matters that are of public record and/or are referred to in the related lender's
title insurance policy, (c) exceptions and exclusions specifically referred to
in such lender's title insurance policy, (d) other matters to which like
properties are commonly subject, none of which matters referred to in clauses
(b), (c) or (d), individually or in the aggregate, materially interferes with
the security intended to be provided by such Mortgage, the marketability or
current use of the Mortgaged Property or the current ability of the Mortgaged
Property to generate operating income sufficient to service the Mortgage Loan
debt and (e) if such Mortgage Loan is cross-collateralized with any other
Mortgage Loan, the lien of the Mortgage for such other Mortgage Loan (the
foregoing items (a) through (e), the "Permitted Encumbrances"). The related
assignment of such Mortgage executed and delivered in favor of the Trustee is in
recordable form and constitutes a legal, valid and binding assignment,
sufficient to convey to the assignee named therein all of the assignor's right,
title and interest in, to and under such Mortgage. Such Mortgage, together with
any separate security agreements, chattel mortgages or equivalent instruments,
establishes and creates a valid and, subject to the exceptions set forth in
paragraph 13 below, enforceable security interest in favor of the holder thereof
in all of the related Mortgagor's personal property used in, and reasonably
necessary to operate, the related Mortgaged Property. In the case of a Mortgaged
Property operated as a hotel or an assisted living facility, the Mortgagor's
personal property includes all personal property that a prudent mortgage lender
making a similar Mortgage Loan would deem reasonably necessary to operate the
related Mortgaged Property as it is currently being operated. A Uniform
Commercial Code

                                      2-1
<PAGE>

financing statement has been filed and/or recorded in all places necessary to
perfect a valid security interest in such personal property, to the extent a
security interest may be so created therein, and such security interest is a
first priority security interest, subject to any prior purchase money security
interest in such personal property and any personal property leases applicable
to such personal property. Notwithstanding the foregoing, no representation is
made as to the perfection of any security interest in rents or other personal
property to the extent that possession or control of such items or actions other
than the filing of Uniform Commercial Code financing statements are required in
order to effect such perfection.

5. Assignment of Leases and Rents. The Assignment of Leases related to and
delivered in connection with each Mortgage Loan establishes and creates a valid,
subsisting and, subject to the exceptions set forth in paragraph 13 below,
enforceable first priority lien and first priority security interest in the
related Mortgagor's interest in all leases, sub-leases, licenses or other
agreements pursuant to which any person is entitled to occupy, use or possess
all or any portion of the real property subject to the related Mortgage, and
each assignor thereunder has the full right to assign the same. The related
assignment of any Assignment of Leases not included in a Mortgage has been
executed and delivered in favor of the Trustee and is in recordable form and
constitutes a legal, valid and binding assignment, sufficient to convey to the
assignee named therein all of the assignor's right, title and interest in, to
and under such Assignment of Leases.

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

7. Condition of Property; Condemnation. (i) With respect to the Mortgaged
Properties securing the Mortgage Loans that were the subject of an engineering
report within 18 months prior to the Cut-Off Date as set forth on Schedule A to
this Exhibit 2, each Mortgaged Property is, to Seller's knowledge, free and
clear of any damage (or adequate reserves therefor have been established) that
would materially and adversely affect its value as security for the related
Mortgage Loan, and (ii) with respect to the Mortgaged Properties securing the
Mortgage Loans that were not the subject of an engineering report within 18
months prior to the Cut-Off Date as set forth on Schedule A to this Exhibit 2,
each Mortgaged Property is in good repair and condition and all building systems
contained therein are in good working order (or adequate reserves therefor have
been established) and each Mortgaged Property is free of structural defects, in
each case, that would materially and adversely affect its value as security for
the related Mortgage Loan as of the date hereof. Seller has received no notice
of the commencement of any proceeding for the condemnation of all or any
material portion of any Mortgaged Property. To Seller's knowledge (based on
surveys and/or title insurance obtained in connection with the origination of
the Mortgage Loans), as of the date of the origination of each Mortgage Loan,
all of the material improvements on the related Mortgaged Property that were
considered in determining the appraised value of the Mortgaged Property lay
wholly within the boundaries

                                      2-2
<PAGE>

and building restriction lines of such property, except for encroachments that
are insured against by the lender's title insurance policy referred to herein or
that do not materially and adversely affect the value or marketability of such
Mortgaged Property, and no improvements on adjoining properties materially
encroached upon such Mortgaged Property so as to materially and adversely affect
the value or marketability of such Mortgaged Property, except those
encroachments that are insured against by the Title Policy referred to herein.

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

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

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

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

12. Environmental Conditions.

            (i)   Except as set forth on Schedule A to this Exhibit 2, with
                  respect to the Mortgaged Properties securing the Mortgage
                  Loans that were the subject

                                      2-3
<PAGE>

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

                                      2-4
<PAGE>

                  Environmental Insurance Policy has been paid through the
                  maturity of the policy's term and the term of such policy
                  extends at least five years beyond the maturity of the
                  Mortgage Loan.

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

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

13. Loan Document Status. Each Mortgage Note, Mortgage and other agreement that
evidences or secures such Mortgage Loan and was executed by or on behalf of the
related Mortgagor is the legal, valid and binding obligation of the maker
thereof (subject to any non-recourse provisions contained in any of the
foregoing agreements and any applicable state anti-deficiency or market value
limit deficiency legislation), enforceable in accordance with its terms, except
as such enforcement may be limited by bankruptcy, insolvency, reorganization or
other similar laws affecting the enforcement of creditors' rights generally, and
by general principles of equity (regardless of whether such enforcement is
considered in a proceeding in equity or at law)

                                      2-5
<PAGE>

and there is no valid defense, counterclaim or right of offset or rescission
available to the related Mortgagor with respect to such Mortgage Note, Mortgage
or other agreement.

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

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

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

                                      2-6
<PAGE>

$3,500,000 no tenant physically occupying 50% or more (by square feet) of the
net rentable area of the related Mortgaged Property was, to Seller's knowledge,
a debtor in any state or federal bankruptcy or insolvency proceeding.

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

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

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

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

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

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

                                      2-7
<PAGE>

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

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

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

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

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

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

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

                                      2-8
<PAGE>

with the fair market values of the Mortgaged Properties securing such
cross-collateralized Mortgage Loans); or (b) substantially all the proceeds of
such Mortgage Loan were used to acquire, improve or protect the real property
that served as the only security for such Mortgage Loan (other than a recourse
feature or other third party credit enhancement within the meaning of Treasury
Regulations Section 1.860G-2(a)(1)(ii)).

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

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

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

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

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

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

                                      2-9
<PAGE>

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

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

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

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

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

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

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

                                      2-10
<PAGE>

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

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

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

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

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

38. Non-Recourse Exceptions. The Mortgage Loan documents for each Mortgage Loan
provide that such Mortgage Loan constitutes either (a) the recourse obligations
of at least one natural person or (b) the non-recourse obligations of the
related Mortgagor, provided that at least

                                      2-11
<PAGE>

one natural person (and the Mortgagor if the Mortgagor is not a natural person)
is liable to the holder of the Mortgage Loan for damages arising in the case of
fraud or willful misrepresentation by the Mortgagor, misappropriation of rents,
insurance proceeds or condemnation awards and breaches of the environmental
covenants in the Mortgage Loan documents.

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

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

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

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

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

                                      2-12
<PAGE>

representations shall not be construed as a guarantee to any degree that
defaults or losses will not occur.

                                      2-13
<PAGE>

                                   Schedule A

                  Exceptions to Representations and Warranties

                                Wells Fargo Loans

<PAGE>

                                   Schedule B

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

<PAGE>

                                   Schedule C

List of Mortgage Loans Subject to Secured Creditor Impaired Property Policies

<PAGE>

                                    EXHIBIT 3
                               PRICING FORMULATION

                                BSCMSI 2006-TOP22

                               Pricing Formulation

     Mortgage Loan Sellers                             PRICING FORMULATION
--------------------------------------------------------------------------------
Bear Stearns:                                                        403,357,909
Morgan Stanley:                                                      503,152,643
Wells Fargo:                                                         509,881,880
PCF I:                                                                87,263,009
PCF II:                                                              178,858,344
--------------------------------------------------------------------------------
Deal                                                               1,682,513,786
================================================================================

                                       3-1
<PAGE>

                                    EXHIBIT 4
                                  BILL OF SALE

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

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

2. Sale. For value received, Seller hereby conveys to Purchaser, without
recourse, all right, title and interest in and to the Mortgage Loans identified
on Exhibit 1 (the "Mortgage Loan Schedule") to the Mortgage Loan Purchase
Agreement, dated as of April 6, 2006 (the "Mortgage Loan Purchase Agreement"),
between Seller and Purchaser and all of the following property:

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

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

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

3. Purchase Price. The amount and other consideration set forth on Exhibit 3 to
the Mortgage Loan Purchase Agreement.

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

                                      4-1
<PAGE>

IN WITNESS WHEREOF, each of the parties hereto has caused this Bill of Sale to
be duly executed and delivered on this 20th day of April, 2006.

SELLER:                             WELLS FARGO BANK,
                                    NATIONAL ASSOCIATION

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

PURCHASER:                          BEAR STEARNS COMMERCIAL
                                    MORTGAGE SECURITIES INC.

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

<PAGE>

                                    EXHIBIT 5
                        FORM OF LIMITED POWER OF ATTORNEY

                                    EXHIBIT 5
                      THE MORTGAGE LOAN PURCHASE AGREEMENT

                        FORM OF LIMITED POWER OF ATTORNEY
                      TO LASALLE BANK NATIONAL ASSOCIATION
                            AND ARCAP SERVICING, INC.
                                 WITH RESPECT TO
                BEAR STEARNS COMMERCIAL MORTGAGE SECURITIES INC.
                  COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES
                                SERIES 2006-TOP22

KNOW ALL MEN BY THESE PRESENTS:

      WHEREAS, pursuant to the terms of the Mortgage Loan Purchase Agreement
dated as of April 6, 2006 (the "Mortgage Loan Purchase Agreement"), between
Wells Fargo Bank, National Association ("WELLS") and Bear Stearns Commercial
Mortgage Securities Inc. ("Depositor"), WELLS is selling certain multifamily and
commercial mortgage loans (the "Mortgage Loans") to Depositor;

      WHEREAS, pursuant to the terms of the Pooling and Servicing Agreement
dated as of April 1, 2006 (the "Pooling and Servicing Agreement"), between the
Depositor, Wells Fargo Bank, National Association, as Master Servicer, ARCap
Servicing, Inc. ("ARCAP") as Special Servicer, LaSalle Bank National Association
("LaSalle") as Trustee and Wells Fargo Bank, National Association, as Paying
Agent, the Trustee and the Special Servicer are granted certain powers,
responsibilities and authority in connection with the completion and the filing
and recording of assignments of mortgage, deeds of trust or similar documents,
Form UCC-2 and UCC-3 assignments of financing statements, reassignments of
assignments of leases, rents and profits and other Mortgage Loan documents
required to be filed or recorded in appropriate public filing and recording
offices;

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

      NOW, THEREFORE, WELLS does hereby make, constitute and appoint LaSalle,
acting solely in its capacity as Trustee under, and in accordance with the terms
of, the Pooling and

                                      5-1
<PAGE>

Servicing Agreement, WELLS's true and lawful agent and attorney-in-fact with
respect to each Mortgage Loan in WELLS's name, place and stead: (i) to complete
(to the extent necessary) and to cause to be submitted for filing or recording
in the appropriate public filing or recording offices, all assignments of
mortgage, deeds of trust or similar documents, assignments or reassignments of
rents, leases and profits, in each case in favor of the Trustee, as set forth in
the definition of "Mortgage File" in Section 1.1 of the Pooling and Servicing
Agreement, that have been received by the Trustee or a Custodian on its behalf,
and all Form UCC-2 or UCC-3 assignments of financing statements and all other
comparable instruments or documents with respect to the Mortgage Loans which are
customarily and reasonably necessary or appropriate to assign agreements,
documents and instruments pertaining to the Mortgage Loans, in each case in
favor of the Trustee as set forth in the definition of "Mortgage File" in, and
in accordance with Section 1.1 of, the Pooling and Servicing Agreement, and to
evidence, provide notice of and perfect such assignments and conveyances in
favor of the Trustee in the public records of the appropriate filing and
recording offices; and (ii) to file or record in the appropriate public filing
or recording offices, all other Mortgage Loan documents to be recorded under the
terms of the Pooling and Servicing Agreement or any such Mortgage Loan documents
which have not been submitted for filing or recordation by WELLS on or before
the date hereof or which have been so submitted but are subsequently lost or
returned unrecorded or unfiled as a result of actual or purported defects
therein, in order to evidence, provide notice of and perfect such documents in
the public records of the appropriate filing and recording offices.
Notwithstanding the foregoing, this Limited Power of Attorney shall grant to
LaSalle and ARCAP only such powers, responsibilities and authority as are set
forth in Section 2.1 of the Mortgage Loan Purchase Agreement.

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

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

<PAGE>

unconditionally and conclusively on the authority of the Trustee or the Special
Servicer, as applicable, and need not make any inquiry about whether the Trustee
or the Special Servicer is acting pursuant to the Pooling and Servicing
Agreement. Any purchaser, title insurance company or other third party may rely
upon a written statement by either the Trustee or the Special Servicer that any
particular Mortgage Loan or related mortgaged real property in question is
subject to and included under this Limited Power of Attorney and the Pooling and
Servicing Agreement.

<PAGE>

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

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

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

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

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

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

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

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

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

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

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

      THIS LIMITED POWER OF ATTORNEY SHALL BE GOVERNED BY AND CONSTRUED IN
ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK,

<PAGE>

AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE
DETERMINED IN ACCORDANCE WITH SUCH LAWS WITHOUT REGARD TO CONFLICT OF LAWS
PRINCIPLES APPLIED IN NEW YORK.

                           [Signature on next page]

<PAGE>

      IN WITNESS WHEREOF, WELLS has caused this instrument to be executed and
its corporate seal to be affixed hereto by its officer duly authorized as of
April 20, 2006.

                                       WELLS FARGO BANK, NATIONAL
                                       ASSOCIATION

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

<PAGE>

                                 ACKNOWLEDGEMENT

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

      On this ____th day of April , 2006, before me appeared Brigid M. Mattingly
to me personally known, who, being by me duly sworn did say that he/she is the
Managing Director of Wells Fargo Bank, National Association, and that the seal
affixed to the foregoing instrument is the corporate seal of said corporation,
and that said instrument was signed and sealed in behalf of said corporation by
authority of its board of directors, and said Managing Director acknowledged
said instrument to be the free act and deed of said corporation.

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

My Commission Expires:

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

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