Document:

EXHIBIT 4.1

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                    BANC OF AMERICA COMMERCIAL MORTGAGE INC.,
                                   Depositor,

                     BANK OF AMERICA, NATIONAL ASSOCIATION,
                                Master Servicer,

                               LNR PARTNERS, INC.,
                                Special Servicer,

                                       and

                       LASALLE BANK NATIONAL ASSOCIATION,
                         Trustee and REMIC Administrator

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

                         POOLING AND SERVICING AGREEMENT

                            Dated as of June 1, 2006

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

                                 $2,699,084,457

                 Commercial Mortgage Pass-Through Certificates

                                  Series 2006-2

<PAGE>

                                TABLE OF CONTENTS

                                     ARTICLE I

        DEFINITIONS; CERTAIN CALCULATIONS IN RESPECT OF THE MORTGAGE POOL
                              AND THE CERTIFICATES

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

Section 1.02  Rules of Construction; Other Definitional Provisions.............

Section 1.03  Certain Calculations in Respect of the Mortgage Pool.............

Section 1.04  Cross-Collateralized Mortgage Loans..............................

Section 1.05  Incorporation of Preliminary Statement...........................

                                   ARTICLE II

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

Section 2.01  Conveyance of Mortgage Loans.....................................

Section 2.02  Acceptance of REMIC I by Trustee.................................

Section 2.03  Mortgage Loan Seller's Repurchase or Substitution of Mortgage
              Loans for Material Document Defects and Material Breaches........

Section 2.04  Representations and Warranties of the Depositor..................

Section 2.05  Representations and Warranties of the Master Servicer............

Section 2.06  Representations and Warranties of the Special Servicer...........

Section 2.07  Representations and Warranties of the Trustee and the REMIC
                Administrator..................................................

Section 2.08  [Reserved].......................................................

Section 2.09  Issuance of the Class R-I Certificates; Creation of the REMIC I
                  Regular Interests............................................

Section 2.10  Conveyance of REMIC I Regular Interests; Acceptance of REMIC II
                  by the Trustee...............................................

Section 2.11  Issuance of the REMIC II Certificates.............................

Section 2.12  Loss of Value Reserve Fund Provisions.............................

Section 2.13  Designation of Grantor Trust......................................

                                   ARTICLE III

                 ADMINISTRATION AND SERVICING OF THE TRUST FUND

Section 3.01  Administration of the Serviced Loans........................

Section 3.02  Collection of Mortgage Loan Payments........................

Section 3.03  Collection of Taxes, Assessments and Similar Items; Servicing
                  Accounts; Servicing Advances; Reserve Accounts...............

Section 3.04  Certificate Account, Distribution Account, REMIC I Distribution
                  Account, REMIC II Distribution Account, Excess Interest
                  Distribution Account, Excess Liquidation Proceeds Account and
                  Interest Reserve Account.....................................

Section 3.05  Permitted Withdrawals From the Certificate Account, the
                  Distribution Account and the Excess Liquidation Proceeds
                  Account......................................................

Section 3.06  Investment of Funds in the Certificate Account, the Interest
                  Reserve Account, the Excess Interest Distribution Account, the
                  REMIC I Distribution Account, the REMIC II Distribution
                  Account, the Excess Liquidation Proceeds Account and the REO
                  Account......................................................

Section 3.07  Maintenance of Insurance Policies; Errors and Omissions and
               Fidelity Coverage...............................................

Section 3.08  Enforcement of Alienation Clauses................................

Section 3.09  Realization Upon Defaulted Serviced Loans........................

Section 3.10  Trustee to Cooperate; Release of Mortgage Files..................

Section 3.11  Servicing Compensation; Interest on Servicing Advances; Payment
               of Certain Expenses; Obligations of the Trustee Regarding
               Back-up Servicing Advances......................................

Section 3.12  Inspections; Collection of Financial Statements..................

Section 3.13  [Reserved].......................................................

Section 3.14  [Reserved].......................................................

Section 3.15  Access to Certain Information....................................

Section 3.16  Title to REO Property; REO Account...............................

Section 3.17  Management of REO Property.......................................

Section 3.18  Resolution of Defaulted Serviced Loans and REO Properties........

Section 3.19  Additional Obligations of the Master Servicer and the Special
                Servicer.......................................................

Section 3.20  Modifications, Waivers, Amendments and Consents..................

Section 3.21  Transfer of Servicing Between Master Servicer and Special
               Servicer; Record Keeping; Asset Status Report; Directing
               Certificateholder ..............................................

Section 3.22  Sub-Servicing Agreements.........................................

Section 3.23  Designation of the Special Servicer by the Majority
               Certificateholder of the Controlling Class......................

Section 3.24  Confidentiality..................................................

Section 3.25  No Solicitation of Prepayments...................................

Section 3.26  Certain Matters with Respect to Mortgage Loans Permitting
               Defeasance, Franchise Mortgage Loans and Certain Mortgage Loans
               Permitting Additional Debt......................................

Section 3.27  Application of Default Charges...................................

Section 3.28  Matters Regarding the Whole Loans................................

Section 3.29  Matters Regarding the Desert Passage Whole Loan and the 277 Park
               Avenue Whole Loan...............................................

Section 3.30  Certain Powers of the Controlling Holders and Certain
                Intercreditor Matters..........................................

Section 3.31  Matters Relating to Certain Mortgage Loans.......................

Section 3.32  Litigation Control...............................................

                                   ARTICLE IV

               PAYMENTS TO CERTIFICATEHOLDERS AND RELATED MATTERS

Section 4.01  Distributions....................................................

Section 4.02  Statements to Certificateholders; Certain Reports by the Master
                Servicer and the Special Servicer..............................

Section 4.03  P&I Advances.....................................................

Section 4.04  Allocation of Realized Losses and Additional Trust Fund Expenses.

Section 4.05  Interest Reserve Account.........................................

Section 4.06  Excess Interest Distribution Account.............................

                              ARTICLE V

                          THE CERTIFICATES

Section 5.01  The Certificates.................................................

Section 5.02  Registration of Transfer and Exchange of Certificates............

Section 5.03  Book-Entry Certificates..........................................

Section 5.04  Mutilated, Destroyed, Lost or Stolen Certificates................

Section 5.05  Persons Deemed Owners............................................

Section 5.06  Certification by Certificate Owners..............................

Section 5.07  Regarding the Identification of Certain Certificateholders.......

                                   ARTICLE VI

            THE DEPOSITOR, THE MASTER SERVICER, THE SPECIAL SERVICER
                          AND THE REMIC ADMINISTRATOR

Section 6.01  Liability of the Depositor, the Master Servicer, the Special
               Servicer and the REMIC Administrator............................

Section 6.02  Merger, Consolidation or Conversion of the Depositor, the Master
                Servicer, the Special Servicer or the REMIC Administrator......

Section 6.03  Limitation on Liability of the Depositor, the Master Servicer,
                the Special Servicer, the REMIC Administrator and Others.......

Section 6.04  Master Servicer, Special Servicer and REMIC Administrator Not
                to Resign......................................................

Section 6.05  Rights of the Depositor and the Trustee in Respect of the Master
                Servicer, the Special Servicer and the REMIC Administrator.....

                                   ARTICLE VII

                                     DEFAULT

Section 7.01  Events of Default................................................

Section 7.02  Trustee to Act; Appointment of Successor.........................

Section 7.03  Form 8-K Information; Notification to Certificateholders.........

Section 7.04  Waiver of Events of Default......................................

Section 7.05  Additional Remedies of Trustee Upon Event of Default.............

                                  ARTICLE VIII

                             CONCERNING THE TRUSTEE

Section 8.01  Duties of Trustee................................................

Section 8.02  Certain Matters Affecting the Trustee............................

Section 8.03  Trustee Not Liable for Validity or Sufficiency of Certificates
                or Loans.......................................................

Section 8.04  Trustee May Own Certificates.....................................

Section 8.05  Fees of Trustee; Indemnification of Trustee......................

Section 8.06  Eligibility Requirements for Trustee.............................

Section 8.07  Resignation and Removal of the Trustee...........................

Section 8.08  Successor Trustee................................................

Section 8.09  Merger or Consolidation of Trustee...............................

Section 8.10  Appointment of Co-Trustee or Separate Trustee....................

Section 8.11  Appointment of Custodians........................................

Section 8.12  Access to Certain Information....................................

Section 8.13  Maintenance of Mortgage File.....................................

                                   ARTICLE IX

                                   TERMINATION

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

Section 9.02  Additional Termination Requirements..............................

                                    ARTICLE X

                  ADDITIONAL REMIC AND GRANTOR TRUST PROVISIONS

Section 10.01  REMIC Administration............................................

Section 10.02  Depositor, Master Servicer, Special Servicer and Trustee to
                 Cooperate with REMIC Administrator............................

Section 10.03  Fees of the REMIC Administrator.................................

Section 10.04  Use of Agents...................................................

Section 10.05  Grantor Trust Administration....................................

                                   ARTICLE XI

               EXCHANGE ACT REPORTING AND REGULATION AB COMPLIANCE

Section 11.01  Intent of the Parties; Reasonableness...........................

Section 11.02  Succession; Subcontractors......................................

Section 11.03  Filing Obligations..............................................

Section 11.04  Form 10-D Filings...............................................

Section 11.05  Form 10-K Filings...............................................

Section 11.06  Sarbanes-Oxley Certification....................................

Section 11.07  Form 8-K Filings................................................

Section 11.08  Form 15 Filing..................................................

Section 11.09  Annual Compliance Statements....................................

Section 11.10  Annual Reports on Assessment of Compliance with Servicing
                 Criteria......................................................

Section 11.11  Annual Independent Public Accountants' Servicing Report.........

Section 11.12  Indemnification.................................................

Section 11.13  Signatures; Article XI Notices..................................

Section 11.14  Amendments......................................................

Section 11.15  Non-Serviced Mortgage Loans.....................................

                                   ARTICLE XII

                            MISCELLANEOUS PROVISIONS

Section 12.01  Amendment.......................................................

Section 12.02  Recordation of Agreement; Counterparts..........................

Section 12.03  Limitation on Rights of Certificateholders......................

Section 12.04  Governing Law...................................................

Section 12.05  Notices.........................................................

Section 12.06  Severability of Provisions......................................

Section 12.07  Successors and Assigns; Beneficiaries...........................

Section 12.08  Article and Section Headings....................................

Section 12.09  Notices to and from Rating Agencies.............................

Section 12.10  Requests for Information; Standing Requests.....................

LIST OF EXHIBITS AND SCHEDULES

EXHIBIT A-1    Form of Class A-1 Certificate
EXHIBIT A-2    Form of Class A-2 Certificate
EXHIBIT A-3    Form of Class A-3 Certificate
EXHIBIT A-4    Form of Class A-AB Certificate
EXHIBIT A-5    Form of Class A-4 Certificate
EXHIBIT A-6    Form of Class XW Certificate
EXHIBIT A-7    Form of Class A-M Certificate
EXHIBIT A-8    Form of Class A-J Certificate
EXHIBIT A-9    Form of Class B Certificate
EXHIBIT A-10   Form of Class C Certificate
EXHIBIT A-11   Form of Class D Certificate
EXHIBIT A-12   Form of Class E Certificate
EXHIBIT A-13   Form of Class F Certificate
EXHIBIT A-14   Form of Class G Certificate
EXHIBIT A-15   Form of Class H Certificate
EXHIBIT A-16   Form of Class J Certificate
EXHIBIT A-17   Form of Class K Certificate
EXHIBIT A-18   Form of Class L Certificate
EXHIBIT A-19   Form of Class M Certificate
EXHIBIT A-20   Form of Class N Certificate
EXHIBIT A-21   Form of Class O Certificate
EXHIBIT A-22   Form of Class P Certificate
EXHIBIT A-23   Form of Class R-I Certificate
EXHIBIT A-24   Form of Class R-II Certificate
EXHIBIT A-25   Form of Class V Certificate
EXHIBIT B      Form of Investment Representation Letter
EXHIBIT C-1    Form of Transfer Affidavit and Agreement Pursuant to Section
               5.02(d)(i)(B)
EXHIBIT C-2    Form of Transferor Certificate Pursuant to
               Section 5.02(d)(i)(D)
EXHIBIT D      Request for Release
EXHIBIT E      Form of ERISA Representation Letter
EXHIBIT F      Form of Custodial Certification
EXHIBIT G      Form of Trustee Distribution Date Statement
EXHIBIT H      Request for Review
EXHIBIT I      Form of Notice Regarding Purchase Option Exercise
EXHIBIT J      Form of Notice and Certification Regarding Defeasance of
               Mortgage Loan
EXHIBIT K      Form of Certification to be Provided with Form 10-K
EXHIBIT L      Form of Certification to be Provided to Depositor
EXHIBIT M      Form of Confidentiality Agreement
EXHIBIT N      Form of Regulation S Certificate
EXHIBIT O      Form of Transfer Certificate for Exchange or Transfer from
               Domestic Global Certificate to Regulation S Global Certificate
               During the Restricted Period
EXHIBIT P      Form of Transfer Certificate for Exchange or Transfer from
               Domestic Global Certificate to Regulation S Global Certificate
               After the Restricted Period
EXHIBIT Q      Form of Transfer Certificate for Exchange or Transfer from
               Regulation S Global Certificate to Domestic Global Certificate
SCHEDULE I     Mortgage Loan Schedule
SCHEDULE II    Sub-Servicing Agreements in Effect as of the Closing Date
SCHEDULE III   Schedule of Exceptions under Section 2.02(a)
SCHEDULE IV    [Reserved]
SCHEDULE V     Mortgage Loans that Initially Pay Interest Only
SCHEDULE VI    Mortgage Loans Containing Additional Debt
SCHEDULE VII   Schedule of Controlling Holders and Operating Advisors
SCHEDULE VIII  Servicing Criteria to be Addressed in Assessment of Compliance
SCHEDULE IX    Additional Form 10-D Disclosure
SCHEDULE X     Additional Form 10-K Disclosure
SCHEDULE XI    Form 8-K Disclosure Information
SCHEDULE XII   Form of Additional Disclosure Notification
SCHEDULE XIII  Schedule of Earnout and Holdback Loans

<PAGE>

            This Pooling and Servicing Agreement (this "Agreement"), dated and
effective as of June 1, 2006, is by and among BANC OF AMERICA COMMERCIAL
MORTGAGE INC., as Depositor, BANK OF AMERICA, NATIONAL ASSOCIATION, as Master
Servicer, LNR PARTNERS, INC., as Special Servicer, and LASALLE BANK NATIONAL
ASSOCIATION, as Trustee and as REMIC Administrator.

                             PRELIMINARY STATEMENT:

      The Depositor intends to sell Certificates, to be issued hereunder in
multiple Classes, which in the aggregate will evidence the entire beneficial
ownership interest in the Trust to be created hereunder.

      As provided herein, the Trustee will elect that two segregated pools of
assets within the Trust Fund (exclusive of the Excess Interest and the Excess
Interest Distribution Account,) be treated for federal income tax purposes as
two separate real estate mortgage investment conduits ("REMIC I" and "REMIC II",
respectively).

                                     REMIC I

      As provided herein, the Trustee will elect that the portion of the Trust
Fund consisting of the Mortgage Loans (exclusive of Excess Interest) and certain
other related assets subject to this Agreement shall be treated as a REMIC for
federal income tax purposes, and such segregated asset pool will be designated
as "REMIC I". The REMIC I Regular Interests listed below under the heading
"Corresponding REMIC I Regular Interests" constitute "regular interests" in
REMIC I and the Class R-I Certificates constitute the sole Class of "residual
interests" in REMIC I created hereunder for purposes of the REMIC Provisions.

      The following table sets forth the Class or Component designation, the
corresponding REMIC I Regular Interest (the "Corresponding REMIC I Regular
Interest"), and the Corresponding Components of the Class X Certificates for
each Class of the REMIC II Certificates (the "Corresponding Certificates").

                       Corresponding                            Corresponding
   Corresponding      REMIC I Regular         REMIC I        Components of Class
   Certificates       Interests (1)(2)   Principal Balance    X Certificates(1)
-------------------   ----------------   -----------------   -------------------

     Class A-1              LA-1              $104,000,000          XA-1
     Class A-2              LA-2               $68,600,000          XA-2
     Class A-3              LA-3              $145,000,000          XA-3
    Class A-AB             LA-AB              $118,565,000          XA-AB
     Class A-4              LA-4            $1,269,250,000          XA-4
    Class A-1A             LA-1A              $183,944,000          XA-1A
     Class A-M              LA-M              $269,908,000          XA-M
     Class A-J              LA-J              $215,927,000          XA-J
      Class B                LB                $50,608,000           XB
      Class C                LC                $26,991,000           XC
      Class D                LD                $40,486,000           XD
      Class E                LE                $26,991,000           XE
      Class F                LF                $30,364,000           XF
      Class G                LG                $26,991,000           XG
      Class H                LH                $33,739,000           XH
      Class J                LJ                $10,121,000           XJ
      Class K                LK                $13,496,000           XK
      Class L                LL                $10,121,000           XL
      Class M                LM                 $3,374,000           XM
      Class N                LN                 $6,748,000           XN
      Class O                LO                 $6,748,000           XO
      Class P                LP                $37,112,457           XP

(1)   The REMIC I Regular Interest or Interests and the Component or Components
      of the Class X Certificates that correspond to any particular Class of
      REMIC II Regular Certificates also correspond to each other and,
      accordingly, constitute the (i) "Corresponding REMIC I Regular Interests"
      and (ii) "Corresponding Components", respectively, with respect to each
      other.

                                    REMIC II

      As provided herein, the Trustee will elect to treat that portion of the
Trust Fund consisting of the REMIC I Regular Interests and certain other assets
subject to this Agreement as a REMIC for federal income tax purposes, and such
segregated asset pool will be designated as "REMIC II". The Class A-1, Class
A-2, Class A-3, Class A-AB, Class A-4, Class A-1A, Class XW, Class A-M, Class
A-J, Class B, Class C, Class D, Class E, Class F, Class G, Class H, Class J,
Class K, Class L, Class M, Class N, Class O and Class P Certificates will
constitute "regular interests" in REMIC II, and the Class R-II Certificates will
constitute the sole Class of "residual interests" in REMIC II for purposes of
the REMIC Provisions.

      The following table sets forth the designation, the approximate initial
Pass-Through Rate and the Initial Class Principal Balance for each of the
Classes of REMIC II Regular Certificates (which are issued by REMIC II):

                           Approximate Initial           Initial Class
     Designation            Pass-Through Rate         Principal Balance
REMIC II Regular Certificates
Class A-1                   5.6110% per annum            $104,000,000
Class A-2                   5.7130% per annum            $68,600,000
Class A-3                 5.7127% per annum(1)           $145,000,000
Class A-AB                5.7227% per annum(1)           $118,565,000
Class A-4                 5.7407% per annum(1)          $1,269,250,000
Class A-1A                5.7427% per annum(1)           $183,944,000
Class A-M                 5.7757% per annum(2)           $269,908,000
Class A-J                 5.7757% per annum(2)           $215,927,000
Class B                   5.7757% per annum(2)           $50,608,000
Class C                   5.7757% per annum(2)           $26,991,000
Class D                   5.7757% per annum(2)           $40,486,000
Class E                   5.7757% per annum(2)           $26,991,000
Class F                   5.7757% per annum(2)           $30,364,000
Class G                   5.7757% per annum(2)           $26,991,000
Class H                   5.7757% per annum(2)           $33,739,000
Class J                   5.4830% per annum(3)           $10,121,000
Class K                   5.4830% per annum(3)           $13,496,000
Class L                   5.4830% per annum(3)           $10,121,000
Class M                   5.4830% per annum(3)            $3,374,000
Class N                   5.4830% per annum(3)            $6,748,000
Class O                   5.4830% per annum(3)            $6,748,000
Class P                   5.4830% per annum(3)           $37,112,457
Class XW                  0.0419% per annum(4)        $2,699,084,457(5)

----------

(1)   Initial Pass-Through Rate. The Pass-Through Rate for the Class A-3, Class
      A-AB, Class A-4 and Class A-1A Certificates for each Distribution Date
      will equal the Weighted Average Adjusted Net Mortgage Rate for such
      Distribution Date minus 0.063%, 0.053%, 0.035% and 0.033%, respectively.

(2)   Initial Pass-Through Rate. The Pass-Through Rate for the A-M, Class A-J,
      Class B, Class C, Class D, Class E, Class F, Class G and Class H
      Certificates for each Distribution Date will equal the Weighted Average
      Adjusted Net Mortgage Rate for such Distribution Date.

(3)   Initial Pass-Through Rate. The Pass-Through Rate for the Class J, Class K,
      Class L, Class M, Class N, Class O and Class P Certificates for each
      Distribution Date will not exceed the Weighted Average Adjusted Net
      Mortgage Rate for such Distribution Date.

(4)   The Pass-Through Rates for each of the Class XW Certificates will be
      calculated in accordance with the definitions of "Class XW Pass-Through
      Rate".

(5)   The Class XW Certificates will not have Class Principal Balances; rather,
      such Class of Certificates will accrue interest as provided herein on the
      related Notional Amount.

      The Class R-I and Class R-II Certificates will bear no Pass-Through Rate
and will have no initial Certificate Principal Balances or notional amounts. Any
Available Distribution Amount (i) remaining in the REMIC I Distribution Account
after the distribution of all amounts distributable in respect of the REMIC I
Regular Interests and (ii) remaining in the REMIC II Distribution Account after
distributions to the Holders of the REMIC II Regular Certificates shall be
distributed to the Holders of the Class R-I and Class R-II Certificates,
respectively.

      The portion of the Trust Fund consisting of the Excess Interest and the
Excess Interest Distribution Account shall be treated as a grantor trust (the
"Excess Interest Grantor Trust") for federal income tax purposes. The Class V
Certificates represent undivided beneficial interests in the Excess Interest
Grantor Trust.

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

<PAGE>

                                   ARTICLE I.

          DEFINITIONS; CERTAIN CALCULATIONS IN RESPECT OF THE MORTGAGE
                            POOL AND THE CERTIFICATES

      Section 1.01 Defined Terms.

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

      "277 Park Avenue Controlling Holder": The 277 Park Avenue Noteholders
acting in their collective capacity pursuant to Section 2(h) of the 277 Park
Avenue Intercreditor Agreement.

      "277 Park Avenue Intercreditor Agreement": With respect to the 277 Park
Avenue Whole Loan, the Amended and Restated Intercreditor and Servicing
Agreement dated as of March 1, 2006 by and between the holder of the 277 Park
Avenue Pari Passu Note A-3 Mortgage Loan, the 277 Park Avenue Pari Passu Note
A-1 Holder and the 277 Park Avenue Pari Passu Note A-2 Holder relating to the
relative rights of such holders, as the same may be further amended from time to
time in accordance with the terms thereof.

      "277 Park Avenue Master Servicer": The master servicer under the 277 Park
Avenue Pooling Agreement, which as of the Closing Date is Bank of America,
National Association.

      "277 Park Avenue Mezzanine Intercreditor Agreement": That certain
[Intercreditor Agreement, dated as of December 27, 2005, by and between Bank of
America, National Association as "Senior Lender" and the 277 Park Avenue
Mezzanine Loan Holder as "Mezzanine Lender"].

      "277 Park Avenue Mezzanine Loan Holder": Bank of America, National
Association, and its permitted successors or assigns.

      "277 Park Avenue Mezzanine Loan": That certain mezzanine loan related to
the 277 Park Avenue Pari Passu Note A-3 Mortgage Loan, which is evidenced by
that certain Mezzanine Loan Agreement, dated as of September 30, 2005, by and
between Bank of America National Association and the 277 Park Avenue Mezzanine
Loan Holder.

      "277 Park Avenue Mortgaged Property": With respect to the 277 Park Avenue
Whole Loan, the property that secures such 277 Park Avenue Whole Loan.

      "277 Park Avenue Nonrecoverable Servicing Advance": With respect to the
277 Park Avenue Pari Passu Note A-3 Mortgage Loan, a "Nonrecoverable Servicing
Advance" as defined in the 277 Park Avenue Pooling Agreement.

      "277 Park Avenue Pari Passu Note A-1": The Mortgage Note related to the
277 Park Avenue Whole Loan that is not included in the Trust, which is pari
passu in right of payment to the 277 Park Avenue Pari Passu Note A-2 and the 277
Park Avenue Pari Passu Note A-3 to the extent set forth in the 277 Park Avenue
Intercreditor Agreement.

      "277 Park Avenue Pari Passu Note A-1 Companion Loan Securities": For so
long as the 277 Park Avenue Pari Passu Note A-3 or a successor REO Serviced Loan
with respect to the 277 Park Avenue Pari Passu Note A-3 is part of the Mortgage
Pool, any class of securities backed by all or any component of the 277 Park
Avenue Pari Passu Note A-1.

      "277 Park Avenue Pari Passu Note A-1 Holder": The holder of the 277 Park
Avenue Pari Passu Note A-1.

      "277 Park Avenue Pari Passu Note A-2": The Mortgage Note related to the
277 Park Avenue Whole Loan that is not included in the Trust, which is pari
passu in right of payment to the 277 Park Avenue Pari Passu Note A-1 and the 277
Park Avenue Pari Passu Note A-3 to the extent set forth in the 277 Park Avenue
Intercreditor Agreement.

      "277 Park Avenue Pari Passu Note A-2 Holder": The holder of the 277 Park
Avenue Pari Passu Note A-2.

      "277 Park Avenue Pari Passu Note A-3": The Mortgage Note related to the
277 Park Avenue Whole Loan that is included in the Trust, which is pari passu in
right of payment to the 277 Park Avenue Pari Passu Note A-1 and the 277 Park
Avenue Pari Passu Note A-2 to the extent set forth in the 277 Park Avenue
Intercreditor Agreement.

      "277 Park Avenue Pari Passu Note A-3 Holder": The holder of the 277 Park
Avenue Pari Passu Note A-3.

      "277 Park Avenue Pari Passu Note A-3 Mortgage Loan": The Mortgage Loan
identified as Loan No. 59147 in the Mortgage Loan Schedule, which, together with
the 277 Park Avenue Pari Passu Note A-2 and the 277 Park Avenue Pari Passu Note
A-3, is secured by a Mortgage on the 277 Park Avenue Mortgaged Property.

      "277 Park Avenue Pari Passu Noteholders": With respect to the 277 Park
Avenue Whole Loan, collectively, the holder of the Mortgage Note for the 277
Park Avenue Pari Passu Note A-3 Mortgage Loan, the 277 Park Avenue Pari Passu
Note A-1 Holder and the 277 Park Avenue Pari Passu Note A-2 Holder.

      "277 Park Avenue Pari Passu Notes": With respect to the 277 Park Avenue
Whole Loan, collectively, the 277 Park Avenue Pari Passu Note A-1, the 277 Park
Avenue Pari Passu Note A-2 and the 277 Park Avenue Pari Passu Note A-3.

      "277 Park Avenue Pooling Agreement": That certain pooling and servicing
agreement dated as of December 1, 2005 among Banc of America Commercial Mortgage
Inc., as depositor, the 277 Park Avenue Master Servicer, as master servicer, the
277 Park Avenue Special Servicer, as special servicer, and the 277 Park Avenue
Trustee, as trustee and REMIC administrator, which agreement relates to the Banc
of America Commercial Mortgage Inc. Commercial Mortgage Pass-Through
Certificates, Series 2005-6.

      "277 Park Avenue Special Servicer": The special servicer under the 277
Park Avenue Pooling Agreement, which of as of the Closing Date is LNR Partners,
Inc.

      "277 Park Avenue Trustee": The trustee under the 277 Park Avenue Pooling
Agreement, which of as of the Closing Date is LaSalle Bank National Association.

      "277 Park Avenue Whole Loan": The 277 Park Avenue Pari Passu Note A-3
Mortgage Loan together with the 277 Park Avenue Pari Passu Note A-1 and the 277
Park Avenue Pari Passu Note A-2. References herein to the 277 Park Avenue Whole
Loan shall be construed to refer to the aggregate indebtedness under the 277
Park Avenue Pari Passu Note A-1, the 277 Park Avenue Pari Passu Note A-2 and the
277 Park Avenue Pari Passu Note A-3.

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

      "55 & 215 West 125th Street Rollup Mezzanine Intercreditor Agreement":
That certain Intercreditor Agreement, dated as of January 11, 2006, by and
between Bear Stearns Commercial Mortgage Inc. as "Senior Lender" and the 55 &
215 West 125th Street Rollup Mezzanine Loan Holder as "Mezzanine Lender".

      "55 & 215 West 125th Street Rollup Mezzanine Loan": That certain mezzanine
loan related to the 55 & 215 West 125th Street Rollup Mortgage Loan, which is
evidenced by that certain Loan Agreement, dated as of January 11, 2006, by and
between 55 Fee LLC and 215 Fee LLC and the 55 & 215 West 125th Street Rollup
Mezzanine Loan Holder.

      "55 & 215 West 125th Street Rollup Mezzanine Loan Holder": Bear Stearns
Commercial Mortgage Inc. its permitted successors or assigns.

      "55 & 215 West 125th Street Rollup Mortgage Loan": That certain Mortgage
Loan identified as Loan No. 45591 on the Mortgage Loan Schedule.

      "Accrued Certificate Interest": With respect to any Class of REMIC II
Regular Certificates, for any Distribution Date, one month's interest at the
Pass-Through Rate applicable to such Class of Certificates for such Distribution
Date, accrued on the related Class Principal Balance of such Class of
Certificates outstanding immediately prior to such Distribution Date and, with
respect to the Class XW Certificates for any Distribution Date, the sum of the
Accrued Component Interest for the related Interest Accrual Period for all of
their respective Components for such Distribution Date. For the avoidance of
doubt, the Accrued Certificate Interest in respect of any Class of REMIC II
Regular Certificates for any Distribution Date shall be deemed to have accrued
during the applicable Interest Accrual Period. Accrued Certificate Interest
shall be calculated on the basis of a 360-day year consisting of twelve 30-day
months.

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

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

      "Additional Collateral": Any non-real property collateral pledged and/or
delivered by or on behalf of the related Mortgagor and held by the related
Mortgagee to secure payment on any Loan.

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

      "Additional Exclusions": Exclusions relating to terrorist or similar acts
in addition to those customarily found in insurance policies for Mortgaged
Properties prior to September 11, 2001.

      "Additional Form 8-K Disclosure": As defined in Section 11.07.

      "Additional Form 10-D Disclosure": As defined in Section 11.04.

      "Additional Form 10-K Disclosure": As defined in Section 11.05.

      "Additional Master Servicing Compensation": As defined in Section 3.11(b).

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

      "Additional Special Servicing Compensation": As defined in Section
3.11(d).

      "Additional Trust Fund Expense": Any expense incurred or shortfall
experienced with respect to the Trust Fund and not otherwise included in the
calculation of a Realized Loss, that would result in the Holders of the
Principal Pay Certificates receiving less than the full amount of principal
and/or interest to which they are entitled on any Distribution Date.

      "Adjusted Net Mortgage Rate": With respect to any Loan or related REO
Serviced Loan, for any Distribution Date, the annualized rate at which interest
would have to accrue thereon on a 30/360 Basis during the most recently ended
calendar month to produce the actual amount of interest accrued (or, if such
Loan or REO Serviced Loan, is prepaid, in whole or in part, or otherwise
liquidated during such calendar month, that otherwise would have accrued) in
respect of such Loan or REO Serviced Loan, as the case may be, at the related
Net Mortgage Rate in effect for such Loan or REO Serviced Loan during such
calendar month. Such rate shall be calculated by multiplying (i) the Net
Mortgage Rate (and, in the case of an ARD Loan after its Anticipated Repayment
Date, without giving effect to any Excess Interest or the Excess Interest Rate)
by (ii) the actual number of days of accrued interest for the related period for
such Loan or REO Serviced Loan, divided by 30; provided, however, that with
respect to such Loan or REO Serviced Loan, the Adjusted Net Mortgage Rate for
the one-month period (a) prior to the Due Dates in January and February in any
year that is not a leap year or in February in any year that is a leap year
(unless, in either case, the related Distribution Date is the final Distribution
Date) will be the per annum rate stated in the related Mortgage Note as of the
Closing Date less the related Administrative Fee Rate and (b) prior to the Due
Date in March (or February, if the related Distribution Date is the final
Distribution Date) will be determined inclusive of one day of interest retained
for each of the one-month periods prior to the Due Dates in January and February
in any year that is not a leap year or February in any year that is a leap year.

      "Administrative Fee Rate": With respect to each Mortgage Loan and REO
Serviced Loan, as specified in the Mortgage Loan Schedule, being the sum of the
related Master Servicing Fee Rate (and, in the case of a Non-Serviced Mortgage
Loan, the related Non-Serviced Mortgage Loan Primary Servicing Fee Rate) and the
Trustee Fee Rate.

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

      "Advance Interest": Interest accrued on any Advance at the Reimbursement
Rate and payable to the Master Servicer (or any Sub-Servicer), the Special
Servicer or the Trustee, as the case may be, all in accordance with Section
3.11(g) or Section 4.03(d), as applicable.

      "Adverse Grantor Trust Event": Either: (i) any impairment of the status of
the Grantor Trust as a "grantor trust" under subpart E, Part I of subchapter J
of the Code; or (ii) the imposition of a tax upon the Grantor Trust or any of
its assets or transactions.

      "Adverse Rating Event": With respect to any Class of Rated Certificates
and each Rating Agency that has assigned a rating thereto, as of any date of
determination, the qualification, downgrade or withdrawal of the rating then
assigned to such Class of Rated Certificates by such Rating Agency (or the
placing of such Class of Rated Certificates on "negative credit watch" status in
contemplation of any such action with respect thereto).

      "Adverse REMIC Event": With respect to either of REMIC I and REMIC II,
either (i) the endangerment of the status of such REMIC as a REMIC or (ii),
except as permitted by Section 3.17(a), the imposition of a tax upon such REMIC
or any of its assets or transactions (including, without limitation, the tax on
prohibited transactions as defined in Section 860F(a)(2) of the Code and the tax
on certain contributions set forth in Section 860G(d) of the Code).

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

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

      "Anticipated Repayment Date": With respect to any ARD Loan, the date
specified on the related Mortgage Note, as of which Excess Interest shall begin
to accrue on such Loan, which date is prior to the Stated Maturity Date for such
Loan.

      "Applicable State Law": For purposes of Article X, the Applicable State
Law shall be (a) the laws of any state in which the Corporate Trust Office of
the Trustee is located, (b) the laws of the states in which any Loan documents
are held and/or any REO Properties are located, (c) such other state and local
law whose applicability shall have been brought to the attention of the REMIC
Administrator by either (i) an Opinion of Counsel delivered to it or (ii)
written notice from the appropriate taxing authority as to the applicability of
such state law, and (d) such other state or local law as to which the REMIC
Administrator has actual knowledge of applicability.

      "Appraisal": With respect to any Mortgaged Property or REO Property as to
which an appraisal is required to be performed pursuant to the terms of this
Agreement, a narrative appraisal complying with Title XI of FIRREA (or, in the
case of a Loan or REO Serviced Loan with a Stated Principal Balance as of the
date of such appraisal of $2,000,000 or less, at the Special Servicer's option,
either a limited appraisal and a summary report or an internal valuation
prepared by the Special Servicer) that indicates the "market value" of the
subject property, as defined in 12 C.F.R. ss.225.62(g), and is conducted by a
Qualified Appraiser (or by the Special Servicer in the case of a limited
appraisal and summary report or internal valuation with respect to a Loan or an
REO Serviced Loan with a Stated Principal Balance as of the date of such
appraisal or valuation of $2,000,000 or less).

      "Appraisal Reduction Amount": With respect to any Required Appraisal
Serviced Loan, an amount (calculated as of the Determination Date by the Special
Servicer immediately following the later of the date on which the most recent
relevant Appraisal acceptable for purposes of Section 3.19(b) was obtained by
the Special Servicer pursuant to this Agreement and the date of the most recent
Appraisal Trigger Event with respect to such Required Appraisal Serviced Loan)
equal to the excess, if any, of:

      (1) the sum of (a) the Stated Principal Balance of such Required Appraisal
Serviced Loan as of such Determination Date, (b) to the extent not previously
advanced by or on behalf of the Master Servicer, or the Trustee, all unpaid
interest (net of Default Interest) accrued on such Required Appraisal Serviced
Loan through the most recent Due Date prior to such Determination Date, (c) all
unpaid Master Servicing Fees, Special Servicing Fees, Trustee Fees and
Additional Trust Fund Expenses accrued with respect to such Required Appraisal
Serviced Loan, (d) all related unreimbursed Advances made by or on behalf of the
Master Servicer, the Special Servicer or the Trustee with respect to such
Required Appraisal Serviced Loan and reimbursable out of the Trust Fund and all
Advances related to such Required Appraisal Serviced Loan that were not
reimbursed out of collections on such Required Appraisal Serviced Loan, together
with all unpaid Advance Interest accrued on such Advances, and (e) all currently
due but unpaid real estate taxes and assessments, insurance premiums and, if
applicable, ground rents in respect of the related Mortgaged Property or REO
Property, as applicable, for which neither the Master Servicer nor the Special
Servicer holds any Escrow Payments or Reserve Funds; over

      (2) the sum of (x) the excess, if any, of (i) 90% of the Appraised Value
of the related Mortgaged Property or REO Property (subject to such downward
adjustments as the Special Servicer may deem appropriate in accordance with the
Servicing Standard (without implying any obligation to do so) based upon its
review of the related Appraisal and such other information as the Special
Servicer deems appropriate), as applicable, as determined by the most recent
relevant Appraisal acceptable for purposes of Section 3.19(b), over (ii) the
amount of any obligation(s) secured by any liens on such Mortgaged Property or
REO Property, as applicable, that are prior to the lien of such Required
Appraisal Serviced Loan, and (y) any Escrow Payments, Reserve Funds and/or
Letters of Credit held by the Master Servicer or the Special Servicer with
respect to such Required Appraisal Serviced Loan, the related Mortgaged Property
or any related REO Property (exclusive of any such items that are to be applied
to real estate taxes, assessments, insurance premiums and/or ground rents or
that were taken into account in determining the Appraised Value of the related
Mortgaged Property or REO Property, as applicable, referred to in clause
(2)(x)(i) of this definition).

      Notwithstanding the foregoing, if (i) an Appraisal Trigger Event occurs
with respect to any Serviced Loan, (ii) either (A) no Appraisal has been
obtained or conducted, as applicable in accordance with Section 3.19(b), with
respect to the related Mortgaged Property during the 12 month period prior to
the date of such Appraisal Trigger Event or (B) there shall have occurred since
the date of the most recent Appraisal a material change in the circumstances
surrounding the related Mortgaged Property that would, in the Special Servicer's
judgment, materially affect the value of the property, and (iii) no new
Appraisal is obtained or conducted, as applicable in accordance with Section
3.19(b), within 60 days after such Appraisal Trigger Event, then (x) until such
new Appraisal is obtained or conducted, as applicable in accordance with Section
3.19(b), the Appraisal Reduction Amount shall equal 25% of the Stated Principal
Balance of such Required Appraisal Serviced Loan, and (y) upon receipt or
performance, as applicable in accordance with Section 3.19(b), of such new
Appraisal by the Special Servicer, the Appraisal Reduction Amount for such
Required Appraisal Serviced Loan will be recalculated in accordance with the
preceding sentence of this definition.

      Also notwithstanding the foregoing, if and when any Cross-Collateralized
Mortgage Loan becomes a Required Appraisal Serviced Loan, an Appraisal Reduction
Amount shall be calculated for the entire Cross-Collateralized Group to which
that particular Cross-Collateralized Mortgage Loan belongs as if such
Cross-Collateralized Group was a single mortgage loan secured by multiple
properties, and any resulting Appraisal Reduction Amount for such
Cross-Collateralized Group shall be allocated among the respective
Cross-Collateralized Mortgage Loans forming that group on a pro rata basis in
accordance with the respective Stated Principal Balances of those Serviced
Loans.

      In addition, notwithstanding anything to the contrary and for the
avoidance of doubt, Appraisal Reduction Amounts with respect to the (i) Desert
Passage Whole Loan shall be calculated in accordance with the Desert Passage
Pooling Agreement, and (ii) 277 Park Avenue Whole Loan shall be calculated in
accordance with the 277 Park Avenue Pooling Agreement.

      "Appraisal Trigger Event": With respect to any Serviced Loan, any of the
following events:

            (i)   such Serviced Loan becomes a Modified Serviced Loan;

            (ii)  any Monthly Payment with respect to such Serviced Loan remains
                  unpaid for 60 days past the Due Date for such payment (or for
                  such shorter period at the end of which such delinquency will
                  become a Servicing Transfer Event); provided, however, solely
                  in the case of a delinquent Balloon Payment and if (x) the
                  related Borrower is actively seeking a refinancing commitment,
                  (y) the related Borrower continues to make payments in the
                  amount of its Monthly Payment, and (z) subject to Section
                  3.21(f), the Directing Certificateholder consents, failure to
                  pay such Balloon Payment during such 60-day period shall not
                  constitute an Appraisal Trigger Event if the related Mortgagor
                  has delivered to the Master Servicer, on or before the 60th
                  day after the Due Date of such Balloon Payment, a refinancing
                  commitment reasonably acceptable to the Master Servicer, for
                  such longer period, not to exceed 120 days beyond such Due
                  Date, during which the refinancing would occur;

            (iii) the passage of 60 days after the Special Servicer receives
                  notice that the Mortgagor under such Serviced Loan becomes the
                  subject of bankruptcy, insolvency or similar proceedings that
                  remain undischarged and undismissed;

            (iv)  the passage of 60 days after the Special Servicer receives
                  notice that a receiver or similar official is appointed with
                  respect to the related Mortgaged Property;

            (v)   the related Mortgaged Property becomes an REO Property, or

            (vi)  if a Serviced Loan has been extended three times, upon the
                  sixtieth day after the third extension.

      "Appraised Value": With respect to any Mortgaged Property (other than the
Mortgaged Property related to a Non-Serviced Mortgage Loan) and as of any date
of determination, the appraised value of a Mortgaged Property or REO Property
based upon the most recent Appraisal obtained or conducted, as appropriate,
pursuant to this Agreement. With respect to the Mortgaged Property related to a
Non-Serviced Mortgage Loan, the appraised value shall be determined pursuant to
the related Non-Serviced Mortgage Loan Pooling Agreement.

      "Approval Provisions": With respect to any Serviced Loan and the
provisions set forth in Section 3.21(e), the approvals and consents and the time
frames for such approvals and consents necessary in connection with the taking
of a Special Action or the extension of the maturity date of a Serviced Loan set
forth below (in each case subject to the limitations set forth in Section
3.21(e) and Section 3.21(f):

            (i)   with respect to any Performing Serviced Loan, the Master
                  Servicer shall obtain the approval or consent of the Special
                  Servicer in connection with a Special Action;

            (ii)  (A) with respect to any Non-Partitioned Loan that is a
                  Performing Serviced Loan that involves an extension of the
                  maturity date of such Loan or (B) in connection with a Special
                  Action for any Non-Partitioned Loan that is a Performing
                  Serviced Loan, the Master Servicer shall obtain the approval
                  and consent of the Special Servicer and the Special Servicer
                  shall obtain the approval and consent of the Directing
                  Certificateholder; and

            (iii) with respect to any Non-Partitioned Loan that is a Specially
                  Serviced Loan, the Special Servicer shall obtain the approval
                  and consent of the Directing Certificateholder in connection
                  with a Special Action.

      With respect to any extension or Special Action set forth in clauses (ii)
and (iv) above, the Special Servicer shall respond to the Master Servicer in
writing (which may be via e-mail or facsimile) of its decision to grant or deny
the Master Servicer's request for approval and consent within ten Business Days
of its receipt of such request and all information reasonably requested by the
Special Servicer, as such time frame may be extended if the Special Servicer is
required to seek the consent of the Directing Certificateholder, any Controlling
Holder or any Rating Agency. If the Special Servicer so fails to respond to the
Master Servicer within the time period referenced in the immediately preceding
sentence, such approval and consent shall be deemed granted. With respect to any
Special Action described in clauses (ii) and (iii) above, the Directing
Certificateholder shall respond to the Special Servicer within ten Business Days
of its receipt of such request in writing (which may be via e-mail or facsimile)
and such request will be deemed granted if the Directing Certificateholder does
not respond in such time frame. With respect to any Special Action described in
clauses (iv) and (v) above, the related Controlling Holder shall respond in
writing (which may be via e-mail or facsimile) to the Special Servicer within
ten Business Days of its receipt of a request for its approval and consent, and
such request will be deemed granted if the required party does not respond in
such time frame.

      "ARD Loan": Any Mortgage Loan that provides for changes in payments and
accrual of interest, including the capture of Excess Interest from the related
mortgaged property and an increase in the applicable Mortgage Rate, if it is not
paid in full by the Anticipated Repayment Date. Each Mortgage Loan that is an
ARD Loan is identified on the Mortgage Schedule as such pursuant to clause (xv)
under the definition of Mortgage Loan Schedule.

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

      "Assignment of Leases": With respect to any Mortgaged Property, any
assignment of leases, rents and profits or similar document or instrument
executed by the Mortgagor in connection with the related Loan, as amended,
modified, renewed or extended through the date hereof and from time to time
hereafter.

      "Assumed Monthly Payment": With respect to any Balloon Loan for its Stated
Maturity Date (provided that such Loan has not been paid in full, and no other
Liquidation Event has occurred in respect thereof, on or before the end of the
Collection Period in which such Stated Maturity Date occurs) and for any
subsequent Due Date on which such Serviced Loan remains outstanding and part of
the Trust Fund, if no Monthly Payment (other than a delinquent Balloon Payment)
is due for such Due Date, the scheduled monthly payment of principal and/or
interest deemed to be due in respect thereof on such Due Date equal to the
amount that would have been due in respect of such Serviced Loan on such Due
Date if it had been required to continue to accrue interest (exclusive, in the
case of an ARD Loan after its Anticipated Repayment Date, of Excess Interest) in
accordance with its terms, and to pay principal in accordance with the
amortization schedule (if any), in effect immediately prior to, and without
regard to the occurrence of, its most recent scheduled maturity date (as such
terms and amortization schedule may have been modified, and such maturity date
may have been extended, in connection with a bankruptcy or similar proceeding
involving the related Mortgagor or a modification, waiver or amendment of such
Serviced Loan granted or agreed to by the Master Servicer or Special Servicer
pursuant to Section 3.20). With respect to any REO Serviced Loan, for any Due
Date therefor as of which the related REO Property remains part of the Trust
Fund, the scheduled monthly payment of principal and/or interest deemed to be
due in respect thereof on such Due Date equal to the Monthly Payment that was
due (or, in the case of a Balloon Loan described in the preceding sentence of
this definition, the Assumed Monthly Payment that was deemed due) in respect of
the related Serviced Loan on the last Due Date prior to its becoming an REO
Serviced Loan.

      "Available Distribution Amount": With respect to any Distribution Date and
each Mortgage Loan and, in the case of the Desert Passage Pari Passu Note A-3
Mortgage Loan and the 277 Park Avenue Pari Passu Note A-3 Mortgage Loan (other
than with respect to a P&I Advance required to be made by the Trustee), only to
the extent received by the Trustee pursuant to the related Intercreditor
Agreement, an amount equal to (a) the balance on deposit in the Certificate
Account and the Distribution Account as of the close of business on the related
Determination Date, including, without limitation, if and to the extent on
deposit therein as of such time, the Master Servicer Remittance Amount for the
related Master Servicer Remittance Date, any P&I Advances made by the Master
Servicer or the Trustee to cover uncollected Monthly Payments due and/or Assumed
Monthly Payments deemed due during the related Collection Period, any amounts
received from the Desert Passage Master Servicer in respect of the Desert
Passage Pari Passu Note A-3 Mortgage Loan pursuant to the Desert Passage Pooling
Agreement and/or the Desert Passage Intercreditor Agreement, any amounts
received from the 277 Park Avenue Servicer in respect of the 277 Park Avenue
Pari Passu Note A-3 Mortgage Loan pursuant to the 277 Park Avenue Pooling
Agreement and/or the 277 Park Avenue Intercreditor Agreement, any Compensating
Interest Payments made by the Master Servicer to cover Prepayment Interest
Shortfalls incurred during the related Collection Period, the portion of Loss of
Value Payments deposited into the Certificate Account pursuant to Section
3.05(g) and for the Distribution Date occurring in each March (or February if
the related Distribution Date is the final Distribution Date), the related
Withheld Amounts remitted to the REMIC I Distribution Account pursuant to
Section 4.05, net of (b) any portion of the amounts described in clause (a) of
this definition that represents one or more of the following: (i) collected
Monthly Payments that are due on a Due Date following the end of the related
Collection Period, (ii) any payments of principal (including, without
limitation, Principal Prepayments) and interest, Liquidation Proceeds and
Insurance Proceeds received after the end of the related Collection Period,
(iii) Prepayment Premiums, (iv) Excess Interest, (v) any amounts payable or
reimbursable to any Person from the REMIC I Distribution Account pursuant to any
of clauses (ii) through (vi) of Section 3.05(b), (vi) any amounts deposited into
the REMIC I Distribution Account in error, (vii) all funds released from the
Excess Liquidation Proceeds Account with respect to such Distribution Date,
(viii) any amounts payable or reimbursable to any Person from the Certificate
Account pursuant to clauses (ii) through (xvii) of Section 3.05(a), and (ix)
with respect to each Mortgage Loan that accrues interest on an Actual/360 Basis
and any Distribution Date relating to the one-month period preceding the
Distribution Date in each February (and in any January of a year that is not a
leap year) (unless, in either case, the related Distribution Date is the final
Distribution Date), an amount equal to the related Withheld Amount pursuant to
Section 4.05; provided that the Available Distribution Amount for the Final
Distribution Date shall be calculated without regard to clauses (b)(i), (b)(ii)
and (b)(iii) of this definition.

      "BACM": Banc of America Commercial Mortgage Inc., or its successors in
interest.

      "Balloon Loan": Any Loan that by its original terms or by virtue of any
modification entered into as of the Closing Date (or, in the case of a
Replacement Mortgage Loan, as of the related date of substitution) provides for
an amortization schedule extending beyond its Stated Maturity Date and as to
which, in accordance with such terms, the Monthly Payment due on its Stated
Maturity Date is at least two times larger than the Monthly Payment due on the
Due Date next preceding its Stated Maturity Date.

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

      "Balloon Payment Interest Shortfall": With respect to any Balloon Loan
that is included as part of the Trust Fund, with a Stated Maturity Date that
occurs after, or that provides for a grace period for its Balloon Payment that
runs past, the Determination Date in any calendar month, and as to which the
Balloon Payment is actually received after the Determination Date in such
calendar month (but no later than its Stated Maturity Date or, if there is an
applicable grace period, beyond the end of such grace period), the amount of
interest, to the extent not collected from the related Determination Date, that
would have accrued on the principal portion of such Balloon Payment during the
period from the related Stated Maturity Date to, but not including, the first
day of the calendar month following the month of maturity (less the amount of
related Master Servicing Fees that would have been payable from that uncollected
interest and, if applicable, exclusive of any portion of that uncollected
interest that would have been Default Interest).

      "Bank": As defined in Section 2.07.

      "Bank of America": Bank of America, National Association, or its
successors in interest.

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

      "Barclays": Barclays Capital Real Estate Inc., and its successors in
interest.

      "Base Interest Fraction" As defined in Section 4.01(c).

      "Base Prospectus": That certain prospectus dated June 12, 2006, relating
to trust funds established by the Depositor and publicly offered mortgage
pass-through certificates evidencing interests therein.

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

      "Borrower": Individually and collectively, as the context may require, the
obligor or obligors under a Loan, including any Person that has not signed the
related Mortgage Note but owns an interest in the related Mortgaged Property,
which interest has been encumbered to secure such Loan.

      "Breach": With respect to any Mortgage Loan, any breach of representation
or warranty made by the related Mortgage Loan Seller pursuant to Section 4(b) of
the related Mortgage Loan Purchase and Sale Agreement.

      "Business Day": Any day other than a Saturday, a Sunday or a day on which
banking institutions in Illinois, Ohio, Pennsylvania, New York, any city in
which the office of the Certificate Registrar is located or any city in which
the Corporate Trust Office of the Trustee or principal place of business of the
Master Servicer or Special Servicer is located are authorized or obligated by
law or executive order to remain closed.

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

      "Certificate": Any one of the Depositor's Commercial Mortgage Pass-Through
Certificates, Series 2006-2 as executed by the Trustee and authenticated and
delivered hereunder by the Certificate Registrar.

      "Certificate Account": The segregated account or accounts created and
maintained by the Master Servicer pursuant to Section 3.04(a) on behalf of the
Trustee in trust for Certificateholders, which shall be entitled "Bank of
America, National Association, as Master Servicer, in trust for the registered
holders of Banc of America Commercial Mortgage Inc. Commercial Mortgage
Pass-Through Certificates, Series 2006-2, Certificate Account".

      "Certificate Factor": With respect to any Class of REMIC II Regular
Certificates, as of any date of determination, a fraction, expressed as a
decimal carried to eight places, the numerator of which is the then related
Class Principal Balance or Class XW Notional Amount, as the case may be, and the
denominator of which is the related Initial Class Principal Balance or Initial
Class XW Notional Amount, as the case may be.

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

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

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

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

      "Certificateholder" or "Holder": The Person in whose name a Certificate is
registered in the Certificate Register; provided that solely for the purposes of
giving any consent, approval or waiver pursuant to this Agreement, any
Certificate registered in the name of the Depositor, any Mortgage Loan Seller,
the Master Servicer, the Special Servicer, the REMIC Administrator or the
Trustee or any Affiliate of any of them shall be deemed not to be outstanding,
and the Voting Rights to which any of them is entitled shall not be taken into
account in determining whether the requisite percentage of Voting Rights
necessary to effect any such consent, approval or waiver has been obtained,
except as otherwise provided in Sections 7.04 and 12.01(b) or except in
connection with the Controlling Class exercising its rights under Section 3.23,
or unless such Persons collectively own an entire Class of Certificates and only
the Holders of such Class of Certificates are entitled to grant such consent,
approval or waiver. The Certificate Registrar shall be entitled to request and
rely upon a certificate of the Depositor, the Master Servicer, the Special
Servicer or, if other than the Trustee, the REMIC Administrator, as the case may
be, in determining whether or not a Certificate is registered in the name of an
Affiliate of such Person. All references herein to "Holders" or
"Certificateholders" shall reflect the rights of Certificate Owners as they may
indirectly exercise such rights through the Depository and the Depository
Participants, except as otherwise specified herein; provided, however, that the
parties hereto shall be required to recognize as a "Holder" or
"Certificateholder" only the Person in whose name a Certificate is registered in
the Certificate Register.

      "Certification Parties": As defined in Section 11.06.

      "Certifying Person": As defined in Section 11,06.

      "Certifying Servicer" means the Master Servicer, the Special Servicer, the
Trustee or an Additional Servicer, as the case may be.

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

      "Class A Certificates": Any one of the Class A Senior Certificates and the
Class A Junior Certificates.

      "Class A Junior Certificates": The Class A-M and Class A-J Certificates.

      "Class A Senior Certificate": Any one of the Class A-1, Class A-2, Class
A-3, Class A-AB, Class A-4 and Class A-1A Certificates.

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

      "Class A-1 Pass-Through Rate": A fixed per annum rate equal to 5.6110%.

      "Class A-1A Certificate": Any one of the Certificates with a "Class A-1A"
designation on the face thereof, substantially in the form of Exhibit A-7
attached hereto, and evidencing a "regular interest" in REMIC II for purposes of
the REMIC Provisions.

      "Class A-1A Pass-Through Rate": A per annum rate equal to the Weighted
Average Adjusted Net Mortgage Rate for the related Distribution Date less
0.033%.

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

      "Class A-2 Pass-Through Rate": A fixed per annum rate equal to 5.7130%.

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

      "Class A-3 Pass-Through Rate": A per annum rate equal to the Weighted
Average Adjusted Net Mortgage Rate for the related Distribution Date less
0.063%.

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

      "Class A-AB Pass-Through Rate": A per annum rate equal to the Weighted
Average Adjusted Net Mortgage Rate for the related Distribution Date less
0.053%.

      "Class A-4 Certificate": Any one of the Certificates with a "Class A-4"
designation on the face thereof, substantially in the form of Exhibit A-6
attached hereto, and evidencing a "regular interest" in REMIC II for purposes of
the REMIC Provisions.

      "Class A-4 Pass-Through Rate": A per annum rate equal to the Weighted
Average Adjusted Net Mortgage Rate for the related Distribution Date less
0.035%.

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

      "Class A-J Pass-Through Rate": A per annum rate equal to the Weighted
Average Adjusted Net Mortgage Rate for the related Distribution Date.

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

      "Class A-M Pass-Through Rate": A per annum rate equal to the Weighted
Average Adjusted Net Mortgage Rate for the related Distribution Date.

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

      "Class B Pass-Through Rate": A per annum rate equal to the Weighted
Average Adjusted Net Mortgage Rate for the related Distribution Date.

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

      "Class C Pass-Through Rate": A per annum rate equal to the Weighted
Average Adjusted Net Mortgage Rate for the related Distribution Date.

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

      "Class D Pass-Through Rate": A per annum rate equal to the Weighted
Average Adjusted Net Mortgage Rate for the related Distribution Date.

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

      "Class E Pass-Through Rate": A per annum rate equal to the Weighted
Average Adjusted Net Mortgage Rate for the related Distribution Date.

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

      "Class F Pass-Through Rate": A per annum rate equal to the Weighted
Average Adjusted Net Mortgage Rate for the related Distribution Date.

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

      "Class G Pass-Through Rate": A per annum rate equal to the Weighted
Average Adjusted Net Mortgage Rate for the related Distribution Date.

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

      "Class H Pass-Through Rate": A per annum rate equal to the Weighted
Average Adjusted Net Mortgage Rate for the related Distribution Date.

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

      "Class J Pass-Through Rate": A per annum rate equal to 5.4830%; provided,
however, that the Class J Pass-Through Rate shall not exceed the Weighted
Average Adjusted Net Mortgage Rate for the related Distribution Date.

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

      "Class K Pass-Through Rate": A per annum rate equal to 5.4830%; provided,
however, that the Class K Pass-Through Rate shall not exceed the Weighted
Average Adjusted Net Mortgage Rate for the related Distribution Date.

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

      "Class L Pass-Through Rate": A per annum rate equal to 5.4830%; provided,
however, that the Class L Pass-Through Rate shall not exceed the Weighted
Average Adjusted Net Mortgage Rate for the related Distribution Date.

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

      "Class M Pass-Through Rate": A per annum rate equal to 5.4830%; provided,
however, that the Class M Pass-Through Rate shall not exceed the Weighted
Average Adjusted Net Mortgage Rate for the related Distribution Date.

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

      "Class N Pass-Through Rate": A per annum rate equal to 5.4830%; provided,
however, that the Class N Pass-Through Rate shall not exceed the Weighted
Average Adjusted Net Mortgage Rate for the related Distribution Date.

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

      "Class O Pass-Through Rate": A per annum rate equal to 5.4830%; provided,
however, that the Class O Pass-Through Rate shall not exceed the Weighted
Average Adjusted Net Mortgage Rate for the related Distribution Date.

      "Class P Certificate": Any one of the Certificates with a "Class P"
designation on the face thereof, substantially in the form of Exhibit A-25
attached hereto, and evidencing a "regular interest" in REMIC II for purposes of
the REMIC Provisions.

      "Class P Pass-Through Rate": A per annum rate equal to 5.4830%; provided,
however, that the Class P Pass-Through Rate shall not exceed the Weighted
Average Adjusted Net Mortgage Rate for the related Distribution Date.

      "Class Principal Balance": The aggregate principal amount of any Class of
Principal Pay Certificates outstanding as of any date of determination. As of
the Closing Date, the Class Principal Balance of each such Class of Certificates
shall equal the Initial Class Principal Balance thereof. On each Distribution
Date, the Class Principal Balance of each Class of Principal Pay Certificates
shall be permanently reduced by the amount of any distributions of principal
made thereon on such Distribution Date pursuant to Section 4.01(b), and shall be
further permanently reduced on such Distribution Date as and to the extent
provided in Section 4.04.

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

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

      "Class V Certificate": Any one of the Certificates with a "Class V"
designation on the face thereof, substantially in the form of Exhibit A-25
attached hereto, and evidencing undivided beneficial interests in the portion of
the Trust Fund consisting of Excess Interest and the Excess Interest
Distribution Account.

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

      "Class XW Notional Amount": As of any date of determination, the sum of
the then Component Notional Amounts of all of the Components.

      "Class XW Pass-Through Rate": With respect to the initial Distribution
Date, 0.0419% per annum, and for any subsequent Distribution Date, the weighted
average of the Class XW Strip Rates for the respective Components for such
Distribution Date (weighted on the basis of the respective Component Notional
Amounts of such Components outstanding immediately prior to such Distribution
Date).

      "Class XW Strip Rate": With respect to any Class of Components for any
Distribution Date, a rate per annum equal to (i) the Weighted Average Adjusted
Net Mortgage Rate for such Distribution Date, minus (ii) the Pass-Through Rate
for the Corresponding Certificates (provided that in no event shall any Class XW
Strip Rate be less than zero).

      "Clearstream": Clearstream Banking, societe anonyme.

      "Closing Date": June 22, 2006.

      "CMSA": The Commercial Mortgage Securities Association, or any association
or organization that is a successor thereto. If neither such association nor any
successor remains in existence, "CMSA" shall be deemed to refer to such other
association or organization as may exist whose principal membership consists of
servicers, trustees, issuers, placement agents and underwriters generally
involved in the commercial mortgage loan securitization industry that is the
principal such association or organization in the commercial mortgage loan
securitization industry and one of whose principal purposes is the establishment
of industry standards for reporting transaction-specific information relating to
commercial mortgage pass-through certificates and commercial mortgage-backed
bonds and the commercial mortgage loans and foreclosed properties underlying or
backing them to investors holding or owning such certificates or bonds, and any
successor to such other association or organization. If an organization or
association described in one of the preceding sentences of this definition does
not exist, "CMSA" shall be deemed to refer to such other association or
organization as shall be selected by the Master Servicer and reasonably
acceptable to the Trustee, the Special Servicer and the Directing
Certificateholder.

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

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

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

      "CMSA Comparative Financial Status Report": A report substantially in the
form of, and containing the information called for in, the downloadable form of
the "Comparative Financial Status Report" available as of the Closing Date on
the CMSA Website, or such other form for the presentation of such information as
may from time to time be recommended by the CMSA for commercial mortgage
securities transactions generally and is reasonably acceptable to the Master
Servicer and the Special Servicer.

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

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

      "CMSA Historical Liquidation Report": A report substantially in the form
of, and containing the information called for in, the downloadable form of the
"Historical Liquidation Report" available as of the Closing Date on the CMSA
Website, or such other form for the presentation of such information and
containing such additional information as may from time to time be recommended
by the CMSA for commercial mortgage securities transactions generally and is
reasonably acceptable to the Master Servicer and the Special Servicer.

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

      "CMSA Investor Reporting Package": Collectively refers to:

            (a) the following seven electronic files: (i) CMSA Bond Level File,
      (ii) CMSA Collateral Summary File, (iii) CMSA Property File, (iv) CMSA
      Loan Periodic Update File, (v) CMSA Loan Setup File, (vi) CMSA Financial
      File, and (vii) CMSA Special Servicer Loan File;

            (b) the following nine supplemental reports: (i) CMSA Comparative
      Financial Status Report, (ii) CMSA Delinquent Loan Status Report, (iii)
      CMSA Historical Loan Modification and Corrected Mortgage Loan Report, (iv)
      CMSA Historical Liquidation Report, (v) CMSA Operating Statement Analysis
      Report, (vi) CMSA NOI Adjustment Worksheet, (vii) CMSA REO Status Report,
      (viii) CMSA Servicer Watch List, and (ix) CMSA Loan Level Reserve - LOC
      Report;

            (c) the CMSA Advance Recoverability Report; and

            (d) such other reports as CMSA may designate as part of the CMSA
      Investor Reporting Package that are reasonably acceptable to the Master
      Servicer, Special Servicer or Trustee, as applicable.

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

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

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

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

      "CMSA Operating Statement Analysis Report": A report substantially in the
form of, and containing the information called for in, the downloadable form of
the "Operating Statement Analysis Report" available as of the Closing Date on
the CMSA Website or in such other form for the presentation of such information
and containing such additional information as may from time to time be
recommended by the CMSA for commercial mortgage-backed securities transactions
generally and is reasonably acceptable to the Master Servicer.

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

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

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

      "CMSA Servicer Watch List": For any Determination Date, a report
substantially in the form of, and containing the information called for in, the
downloadable form of the "Servicer Watch List" available as of the Closing Date
on the CMSA Website, or in such other final form for the presentation of such
information and containing such additional information as may from time to time
be promulgated as recommended by the CMSA for commercial mortgage securities
transactions generally and, insofar as it requires the presentation of
information in addition to that called for by the form of the "Servicer Watch
List" available as of the Closing Date on the CMSA Website, is reasonably
acceptable to the Master Servicer or the Special Servicer, as applicable.

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

      "CMSA Website": The CMSA's Website located at "www.cmbs.org" or such other
primary website as the CMSA may establish for dissemination of its report forms.

      "Code": The Internal Revenue Code of 1986, as amended.

      "Collection Period": With respect to any Distribution Date, the period
commencing immediately following the Determination Date in the calendar month
preceding the month in which such Distribution Date occurs (or, in the case of
the initial Distribution Date, commencing immediately following the Cut-off
Date) and ending on and including the Determination Date in the calendar month
in which such Distribution Date occurs.

      "Commission": The Securities and Exchange Commission.

      "Companion Loans": Collectively, the Desert Passage Pari Passu Note A-1,
the Desert Passage Pari Passu Note A-2, the 277 Park Avenue Pari Passu Note A-1
and the 277 Park Avenue Pari Passu Note A-2.

      "Companion Loan Holder": With respect to (i) the Desert Passage Pari Passu
Note A-1, the Desert Passage Pari Passu Note A-1 Holder (ii) the Desert Passage
Pari Passu Note A-2, the Desert Passage Pari Passu Note A-2 Holder, (iii) the
277 Park Avenue Pari Passu Note A-1, the 277 Park Avenue Pari Passu Note A-1
Holder and (iv) the 277 Park Avenue Pari Passu Note A-2, the 277 Park Avenue
Pari Passu Note A-2 Holder.

      "Compensating Interest Payment": With respect to any Distribution Date,
any payment made by the Master Servicer pursuant to Section 3.19(e) to cover any
Balloon Payment Interest Shortfall and Prepayment Interest Shortfalls incurred
during the related Collection Period.

      "Component": Each of Component XA-1, Component XA-2, Component XA-3,
Component XA-AB, Component XA-4, Component XA-1-A, Component XA-M, Component
XA-J, Component XB, Component XC, Component XD, Component XE, Component XF,
Component XG, Component XH, Component XJ, Component XK, Component XL, Component
XM, Component XN, Component XO and Component XP.

      "Component Notional Amount": With respect to each Component and any date
of determination, an amount equal to the then REMIC I Principal Balance of its
Corresponding REMIC I Regular Interest.

      "Component XA-1": One of the 22 components of the Class XW Certificates
having a Component Notional Amount equal to the then current REMIC I Principal
Balance of REMIC I Regular Interest LA-1 as of any date of determination.

      "Component XA-1A": One of the 22 components of the Class XW Certificates
having a Component Notional Amount equal to the then current REMIC I Principal
Balance of REMIC I Regular Interest LA-1A as of any date of determination.

      "Component XA-2": One of the 22 components of the Class XW Certificates
having a Component Notional Amount equal to the then current REMIC I Principal
Balance of REMIC I Regular Interest LA-2 as of any date of determination.

      "Component XA-3": One of the 22 components of the Class XW Certificates
having a Component Notional Amount equal to the then current REMIC I Principal
Balance of REMIC I Regular Interest LA-3 as of any date of determination.

      "Component XA-AB": One of the 22 components of the Class XW Certificates
having a Component Notional Amount equal to the then current REMIC I Principal
Balance of REMIC I Regular Interest LA-AB as of any date of determination.

      "Component XA-4": One of the 22 components of the Class XW Certificates
having a Component Notional Amount equal to the then current REMIC I Principal
Balance of REMIC I Regular Interest LA-4 as of any date of determination.

      "Component XA-J": One of the 22 components of the Class XW Certificates
having a Component Notional Amount equal to the then current REMIC I Principal
Balance of REMIC I Regular Interest LA-J as of any date of determination.

      "Component XA-M": One of the 22 components of the Class XW Certificates
having a Component Notional Amount equal to the then current REMIC I Principal
Balance of REMIC I Regular Interest LA-M as of any date of determination.

      "Component XB": One of the 22 components of the Class XW Certificates
having a Component Notional Amount equal to the then current REMIC I Principal
Balance of REMIC I Regular Interest LB as of any date of determination.

      "Component XC": One of the 22 components of the Class XW Certificates
having a Component Notional Amount equal to the then current REMIC I Principal
Balance of REMIC I Regular Interest LC as of any date of determination.

      "Component XD": One of the 22 components of the Class XW Certificates
having a Component Notional Amount equal to the then current REMIC I Principal
Balance of REMIC I Regular Interest LD as of any date of determination.

      "Component XE": One of the 22 components of the Class XW Certificates
having a Component Notional Amount equal to the then current REMIC I Principal
Balance of REMIC I Regular Interest LE as of any date of determination.

      "Component XF": One of the 22 components of the Class XW Certificates
having a Component Notional Amount equal to the then current REMIC I Principal
Balance of REMIC I Regular Interest LF as of any date of determination.

      "Component XG": One of the 22 components of the Class XW Certificates
having a Component Notional Amount equal to the then current REMIC I Principal
Balance of REMIC I Regular Interest LG as of any date of determination.

      "Component XH": One of the 22 components of the Class XW Certificates
having a Component Notional Amount equal to the then current REMIC I Principal
Balance of REMIC I Regular Interest LH as of any date of determination.

      "Component XJ": One of the 22 components of the Class XW Certificates
having a Component Notional Amount equal to the then current REMIC I Principal
Balance of REMIC I Regular Interest LJ as of any date of determination.

      "Component XK": One of the 22 components of the Class XW Certificates
having a Component Notional Amount equal to the then current REMIC I Principal
Balance of REMIC I Regular Interest LK as of any date of determination.

      "Component XL": One of the 22 components of the Class XW Certificates
having a Component Notional Amount equal to the then current REMIC I Principal
Balance of REMIC I Regular Interest LL as of any date of determination.

      "Component XM": One of the 22 components of the Class XW Certificates
having a Component Notional Amount equal to the then current REMIC I Principal
Balance of REMIC I Regular Interest LM as of any date of determination.

      "Component XN": One of the 22 components of the Class XW Certificates
having a Component Notional Amount equal to the then current REMIC I Principal
Balance of REMIC I Regular Interest LN as of any date of determination.

      "Component XO": One of the 22 components of the Class XW Certificates
having a Component Notional Amount equal to the then current REMIC I Principal
Balance of REMIC I Regular Interest LO as of any date of determination.

      "Component XP": One of the 22 components of the Class XW Certificates
having a Component Notional Amount equal to the then current REMIC I Principal
Balance of REMIC I Regular Interest LP as of any date of determination.

      "Confidential Information": As defined in Section 3.24.

      "Controlling Class": As of any date of determination, the outstanding
Class of Sequential Pay Certificates with the lowest Payment Priority (the Class
A Senior Certificates being treated as a single Class for this purpose) that has
a then outstanding Class Principal Balance at least equal to 25% of the Initial
Class Principal Balance thereof (or, if no Class of Sequential Pay Certificates
has a Class Principal Balance at least equal to 25% of the Initial Class
Principal Balance thereof, then the "Controlling Class" shall be the outstanding
Class of Sequential Pay Certificates with the then largest outstanding Class
Principal Balance).

      "Controlling Class Certificateholders": Each Holder (or Certificate Owner,
if applicable) of a Certificate of the Controlling Class as certified to the
Trustee from time to time by such Holder (or Certificate Owner).

      "Controlling Class Optionholder": The Purchase Option held by the Majority
Certificateholder of the Controlling Class pursuant to Section 3.18(c).

      "Controlling Holder": With respect to (i) the Desert Passage Whole Loan,
the Desert Passage Controlling Holder, and (ii) the 277 Park Avenue Whole Loan,
the 277 Park Avenue Controlling Holder. Each such initial Controlling Holder
and, if applicable, the related Operating Advisor shall be set forth on Schedule
VII hereto.

      "Corporate Trust Office": The principal corporate trust office of the
Trustee, for purposes of Certificate transfer services, at the date of the
execution of this Agreement is located at (i) with respect to maintenance of the
Certificate Register and the transfer and exchange of Certificates, the office
of the Trustee located at 135 South LaSalle Street, Suite 1625, Chicago,
Illinois 60603, Attention: Global Securities and Trust Services Group, BACM
2006-2, and with respect to any successor Trustee, the principal office thereof
as designated in writing to the Depositor.

      "Corrected Serviced Loan": Any Serviced Loan that had been a Specially
Serviced Loan but as to which all Servicing Transfer Events have ceased to exist
other than in connection with a sale pursuant to Section 3.18.

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

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

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

      "Covered Risks": As defined in Section 3.07(a).

      "CPR": As defined in the Base Prospectus.

      "Cross-Collateralized Group": Any group of Loans that is cross-defaulted
and cross-collateralized with each other.

      "Cross-Collateralized Mortgage Loan": Any Loan that is, by its terms,
cross-defaulted and cross-collateralized with any other Loan.

      "Current Principal Distribution Amount": With respect to any Distribution
Date, an amount (calculated in accordance with Section 1.03) equal to the
aggregate of, without duplication:

            (a) the principal portions of all Monthly Payments (other than
      Balloon Payments) and any Assumed Monthly Payments due or deemed due, as
      the case may be, made by or on behalf of the related borrower or advanced
      in respect of the Mortgage Loans in the Mortgage Pool or in such Loan
      Group, as applicable, and any REO Serviced Loans for their respective Due
      Dates occurring during the related Collection Period or any prior
      Collection Period (if not previously distributed);

            (b) all Principal Prepayments received on the Mortgage Loans in the
      Mortgage Pool or in such Loan Group, as applicable, during the related
      Collection Period;

            (c) with respect to any Balloon Loan that is included in the
      Mortgage Pool or in such Loan Group, as applicable, as to which the
      related Stated Maturity Date occurred during or prior to the related
      Collection Period, any payment of principal (exclusive of any Principal
      Prepayment and any amount described in subclause (d) below) that was made
      by or on behalf of the related Mortgagor during the related Collection
      Period, net of any portion of such payment that represents a recovery of
      the principal portion of any Monthly Payment (other than a Balloon
      Payment) due, or the principal portion of any Assumed Monthly Payment
      deemed due, in respect of such Balloon Loan on a Due Date during or prior
      to the related Collection Period and not previously recovered;

            (d) all Liquidation Proceeds (net of Liquidation Expenses),
      Insurance Proceeds, Condemnation Proceeds and REO Revenues received on or
      in respect of the Mortgage Loans during the related Collection Period
      (including any amount related to the Loss of Value Payments to the extent
      that such amount was transferred into the Certificate Account pursuant to
      Section 3.05(g) during the related Collection Period) that were identified
      and applied by the Master Servicer as recoveries of principal thereof, in
      each case net of any portion of such amounts that represents a recovery of
      the principal portion of any Monthly Payment (other than a Balloon
      Payment) due, or of the principal portion of any Assumed Monthly Payment
      deemed due, in respect of any such Mortgage Loan on a Due Date during or
      prior to the related Collection Period and not previously recovered; and

            (e) all Liquidation Proceeds (net of Liquidation Expenses),
      Insurance Proceeds, Condemnation Proceeds and REO Revenues received on or
      in respect of any REO Properties during the related Collection Period that
      were identified and applied by the Master Servicer as recoveries of
      principal of the related REO Serviced Loans, in each case net of any
      portion of such amounts that represents a recovery of the principal
      portion of any Monthly Payment (other than a Balloon Payment) due, or of
      the principal portion of any Assumed Monthly Payment deemed due, in
      respect of any such REO Serviced Loan or the predecessor Mortgage Loan on
      a Due Date during or prior to the related Collection Period and not
      previously recovered.

      "Custodian": A Person who is at any time appointed by the Trustee pursuant
to Section 8.11 as a document custodian for the Mortgage Files, which Person
shall not be the Depositor, a Mortgage Loan Seller or an Affiliate of either of
them.

      "Cut-off Date": June 1, 2006.

      "Cut-off Date Balance": With respect to any Mortgage Loan or Companion
Loan, the outstanding principal balance of such Loan as of the Cut-off Date, net
of all unpaid payments of principal due in respect thereof on or before such
date.

      "Debt Service Coverage Ratio": With respect to any Loan, as of any date of
determination, and calculated without regard to any cross-collateralization
feature of such Loan, the ratio of (x) the Net Cash Flow (before payment of any
debt service on such Loan) generated by the related Mortgaged Property or
Mortgaged Properties during the most recently ended period of not more than 12
months or less than three months for which financial statements (whether or not
audited) have been received by or on behalf of the related Mortgage Loan Seller
(prior to the Closing Date) or the Master Servicer or the Special Servicer
(following the Closing Date), to (y) the product of the amount of the Monthly
Payment in effect for such Loan as of such date of determination, multiplied by
the number of months represented in the financial statements. The Master
Servicer may, in accordance with CMSA reporting standards, report Net Cash Flow
with respect to each Mortgaged Property where one or more Loans are secured by
multiple Mortgaged Properties; provided, however, that for purposes of
determining Debt Service Coverage Ratio compliance, calculations shall be made
at the Loan level.

      "Default Charges": Any Default Interest and/or late payment charges that
are paid or payable, as the context may require, in respect of any Loan or REO
Serviced Loan.

      "Default Interest": With respect to any Loan (or successor REO Serviced
Loan), any amounts collected thereon, other than late payment charges or
Prepayment Premiums, that represent interest in excess of interest accrued on
the principal balance of such Loan (or REO Serviced Loan) at the related
Mortgage Rate, such excess interest arising out of a default under such Loan.

      "Defaulted Serviced Loan": A Serviced Loan (i) that is delinquent 60 days
or more in respect to a Monthly Payment (not including the Balloon Payment) or
(ii) is more than 60 days delinquent in respect of its Balloon Payment unless
(w) the related Borrower is actively seeking a refinancing commitment, (x) the
related Borrower continues to make payments in the amount of its Assumed Monthly
Payment, (y) subject to Section 3.21(f), the Directing Certificateholder
consents, and (z) the related Mortgagor has delivered to the Master Servicer, on
or before the 60th day after the Due Date of such Balloon Payment, a refinancing
commitment reasonably acceptable to the Master Servicer (which refinancing
commitment the Master Servicer shall promptly forward to the Special Servicer
and the Directing Certificateholder), for such longer period, not to exceed 120
days beyond the Due Date of such Balloon Payment, during which the refinancing
would occur (provided that if such refinancing does not occur during such time
specified in the commitment, the related Serviced Loan will immediately become a
Defaulted Serviced Loan), in either case such delinquency to be determined
without giving effect to any grace period permitted by the related Mortgage or
Mortgage Note and without regard to any acceleration of payments under the
related Mortgage and Mortgage Note, or (iii) as to which the Master Servicer or
Special Servicer has, by written notice to the related Mortgagor, accelerated
the maturity of the indebtedness evidenced by the related Mortgage Note.

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

      "Defective Mortgage Loan": Any Mortgage Loan as to which there exists a
Material Breach or a Material Document Defect that was not cured in all material
respects.

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

      "Deleted Mortgage Loan": A Defective Mortgage Loan that is repurchased
from the Trust or replaced with one or more Replacement Mortgage Loans, in
either case as contemplated by Section 2.03.

      "Denomination": As defined in Section 5.01(a).

      "Depositor": Banc of America Commercial Mortgage Inc., or its successor in
interest.

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

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

      "Depository Rules": As defined in Section 5.02(b).

      "Desert Passage Controlling Holder": The Desert Passage Noteholders acting
in their collective capacity pursuant to Section 2(h) of the Desert Passage
Intercreditor Agreement.

      "Desert Passage Intercreditor Agreement": With respect to the Desert
Passage Whole Loan, the Intercreditor and Servicing Agreement dated as of March
1, 2006 by and among the holder of the Desert Passage Pari Passu Note A-3
Mortgage Loan, the Desert Passage Pari Passu Note A-1 Holder and the Desert
Passage Pari Passu Note A-2 Holder relating to the relative rights of such
holders, as the same may be further amended from time to time in accordance with
the terms thereof.

      "Desert Passage Master Servicer": The master servicer under the Desert
Passage Pooling Agreement, which as of the Closing Date is Bank of America,
National Association.

      "Desert Passage Mezzanine Intercreditor Agreement": That certain Amended
and Restated Intercreditor Agreement, dated as of February 27, 2006, by and
between Bank of America, National Association as "Senior Lender" and the Desert
Passage Mezzanine Loan Holder as "Mezzanine Lender".

      "Desert Passage Mezzanine Loan Holder": Bank of America, National
Association, and its permitted successors or assigns.

      "Desert Passage Mezzanine Loan": That certain mezzanine loan related to
the Desert Passage Pari Passu Note A-3 Mortgage Loan, which is evidenced by that
certain Mezzanine Loan Agreement, dated as of October 4, 2005, by and between
Desert Passage Mezz LLC and the Desert Passage Mezzanine Loan Holder.

      "Desert Passage Mortgaged Property": With respect to the Desert Passage
Whole Loan, the property that secures such Desert Passage Whole Loan.

      "Desert Passage Nonrecoverable Servicing Advance": With respect to the
Desert Passage Pari Passu Note A-3 Mortgage Loan, a "Nonrecoverable Servicing
Advance" as defined in the Desert Passage Pooling Agreement.

      "Desert Passage Pari Passu Note A-1 Companion Loan Securities": For so
long as the Desert Passage Pari Passu Note A-3 or a successor REO Serviced Loan
with respect to the Desert Passage Pari Passu Note A-3 is part of the Mortgage
Pool, any class of securities backed by all or any component of the Desert
Passage Pari Passu Note A-1.

      "Desert Passage Pari Passu Note A-1 Holder": The holder of the Desert
Passage Pari Passu Note A-1.

      "Desert Passage Pari Passu Note A-1": The Mortgage Note related to the
Desert Passage Whole Loan that is not included in the Trust, which is pari passu
in right of payment to the Desert Passage Pari Passu Note A-2 and the Desert
Passage Pari Passu Note A-3 to the extent set forth in the Desert Passage
Intercreditor Agreement.

      "Desert Passage Pari Passu Note A-2 Holder": The holder of the Desert
Passage Pari Passu Note A-2.

      "Desert Passage Pari Passu Note A-2": The Mortgage Note related to the
Desert Passage Whole Loan that is not included in the Trust, which is pari passu
in right of payment to the Desert Passage Pari Passu Note A-1 and the Desert
Passage Pari Passu Note A-3 to the extent set forth in the Desert Passage
Intercreditor Agreement.

      "Desert Passage Pari Passu Note A-3 Holder": The holder of the Desert
Passage Pari Passu Note A-3.

      "Desert Passage Pari Passu Note A-3 Mortgage Loan": The Mortgage Loan
identified as Loan No. 59264 in the Mortgage Loan Schedule, which, together with
the Desert Passage Pari Passu Note A-2 and the Desert Passage Pari Passu Note
A-3, is secured by a Mortgage on the Desert Passage Mortgaged Property.

      "Desert Passage Pari Passu Note A-3": The Mortgage Note related to the
Desert Passage Whole Loan that is included in the Trust, which is pari passu in
right of payment to the Desert Passage Pari Passu Note A-1 and the Desert
Passage Pari Passu Note A-2 to the extent set forth in the Desert Passage
Intercreditor Agreement.

      "Desert Passage Pari Passu Noteholders": With respect to the Desert
Passage Whole Loan, collectively, the holder of the Mortgage Note for the Desert
Passage Pari Passu Note A-3 Mortgage Loan, the Desert Passage Pari Passu Note
A-1 Holder and the Desert Passage Pari Passu Note A-2 Holder.

      "Desert Passage Pari Passu Notes": With respect to the Desert Passage
Whole Loan, collectively, the Desert Passage Pari Passu Note A-1, the Desert
Passage Pari Passu Note A-2 and the Desert Passage Pari Passu Note A-3.

      "Desert Passage Pooling Agreement": That certain pooling and servicing
agreement dated as of March 1, 2006 among Banc of America Commercial Mortgage
Inc., as depositor, the Desert Passage Master Servicer, as master servicer, the
Desert Passage Special Servicer, as special servicer, HSBC Financial Services
(Cayman) Limited, as Cayman collateral trustee, and the Desert Passage Trustee,
as trustee and REMIC administrator, which agreement relates to the Banc of
America Commercial Mortgage Inc. Commercial Mortgage Pass-Through Certificates,
Series 2006-1.

      "Desert Passage Special Servicer": The special servicer under the Desert
Passage Pooling Agreement, which of as of the Closing Date is Midland Loan
Services, Inc.

      "Desert Passage Trustee": The trustee under the Desert Passage Pooling
Agreement, which of as of the Closing Date is Wells Fargo Bank, N.A.

      "Desert Passage Whole Loan": The Desert Passage Pari Passu Note A-3
Mortgage Loan together with the Desert Passage Pari Passu Note A-1 and the
Desert Passage Pari Passu Note A-2. References herein to the Desert Passage
Whole Loan shall be construed to refer to the aggregate indebtedness under the
Desert Passage Pari Passu Note A-1, the Desert Passage Pari Passu Note A-2 and
the Desert Passage Pari Passu Note A-3.

      "Determination Date": With respect to any Distribution Date, the earlier
of (i) the sixth day of the month in which such Distribution Date occurs, or if
such sixth day is not a Business Day, the immediately preceding Business Day,
and (ii) fourth Business Day before such Distribution Date.

      "Determination Information": As defined in Section 3.18(b).

      "Directing Certificateholder": The Controlling Class Certificateholder (or
its designee) selected by the Majority Certificateholder of the Controlling
Class, as certified by the Trustee from time to time; provided, however, that
(i) absent such selection, or (ii) until a Directing Certificateholder is so
selected, or (iii) upon receipt of a notice from a majority of the Controlling
Class, by Certificate Principal Balance, that a Directing Certificateholder is
no longer designated, the Controlling Class Certificateholder that owns the
largest aggregate Certificate Principal Balance of the Controlling Class will be
the Directing Certificateholder. The initial Directing Certificateholder is
Hyperion Brookfield Asset Management Inc.

      "Directly Operate": With respect to any REO Property (other than any REO
Property related to a Non-Serviced Mortgage Loan), the furnishing or rendering
of services to the tenants thereof, the management or operation of such REO
Property, the holding of such REO Property primarily for sale to customers
(other than the sale of an REO Property pursuant to Section 3.18, the
performance of any construction work thereon or any use of such REO Property in
a trade or business conducted by REMIC I other than through an Independent
Contractor; provided, however, that the Special Servicer (or any Sub-Servicer on
behalf of the Special Servicer) shall not be considered to Directly Operate an
REO Property solely because the Special Servicer (or any Sub-Servicer on behalf
of the Special Servicer) establishes rental terms, chooses tenants, enters into
or renews leases, deals with taxes and insurance, or makes decisions as to, or
funds, repairs or capital expenditures with respect to such REO Property
(including, without limitation, construction activity to effect repairs or in
conjunction with leasing activity).

      "Discount Rate" As defined in Section 4.01(c).

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

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

      "Distributable Certificate Interest": For any Distribution Date with
respect to any Class of REMIC II Regular Certificates, the Accrued Certificate
Interest in respect of such Class of Certificates for such Distribution Date,
reduced (to not less than zero) by that portion, if any, of the Net Aggregate
Prepayment Interest Shortfall for such Distribution Date allocated to such Class
of Certificates as set forth below. The Net Aggregate Prepayment Interest
Shortfall, if any, for each Distribution Date shall be allocated, pro rata, to
each Class of REMIC II Regular Certificates based on Accrued Certificate
Interest for each such Class of Certificates for such Distribution Date.

      "Distribution Account": The segregated account or accounts created and
maintained by the Trustee pursuant to Section 3.04(b) in trust for the
Certificateholders, which shall be entitled "LaSalle Bank National Association,
as Trustee, in trust for the registered holders of Banc of America Commercial
Mortgage Inc. Commercial Mortgage Pass-Through Certificates, Series 2006-2,
Distribution Account".

      "Distribution Date": The tenth day of any month, or if such tenth day is
not a Business Day, the Business Day immediately following, commencing in July
2006.

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

      "Document Defect": With respect to any Mortgage Loan, any document
required to be part of the related Mortgage File that has not been properly
executed, is missing, contains information that does not conform in any material
respect with the corresponding information set forth in the Mortgage Loan
Schedule (and the terms of such document have not been modified by written
instrument contained in the related Mortgage File), or does not appear to be
regular on its face.

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

      "DTC": As defined in Section 5.03(d).

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

      "Eligible Account": Any of (i) an account maintained with a federal or
state chartered depository institution or trust company, including, without
limitation, the Trustee (if it meets the following rating criteria), the
long-term unsecured debt obligations of which are rated no less than "A" by
Fitch and "AA-" by S&P (or "A-" by S&P if such depository's short-term unsecured
debt rating is no less than "A-1" by S&P) (if the deposits are to be held in the
account for more than 30 days) (or if such account is maintained with PNC Bank,
National Association, or KeyBank National Association rated no less than "A" by
Fitch and with respect to S&P meets the requirements set forth in clause (i), or
the short-term unsecured debt obligations of which are rated no less than "F-1"
by Fitch and "A-1" by S&P (if the deposits are to be held in the account for 30
days or less), in each case, at any time funds are on deposit therein, (ii) a
segregated trust account or accounts maintained with the corporate trust
department of a federally chartered depository institution or trust company,
including, without limitation, the Trustee, acting in its fiduciary capacity and
subject to the regulations regarding fiduciary funds on deposit therein under 12
C.F.R. ss.9.10(b) that has a combined capital surplus of at least $50,000,000,
(iii) a segregated trust account or accounts maintained with the corporate trust
department of a state chartered depository institution or trust company,
including, without limitation, the Trustee, acting in its fiduciary capacity and
subject to regulations regarding fiduciary funds on deposit therein
substantially similar to 12 C.F.R. ss.9.10(b) that has a combined capital
surplus of at least $50,000,000, or (iv) any other account that would not result
in the downgrade, qualification (if applicable) or withdrawal of the rating then
assigned by either Rating Agency to any Class of Certificates (as confirmed in
writing by each Rating Agency).

      "Emergency Advance": Any Servicing Advance, whether or not it is a
Servicing Advance that, pursuant hereto, the Special Servicer has the option to
make or to request the Master Servicer to make, that must be made within five
Business Days of the Special Servicer's becoming aware that it must be made to
avoid any material penalty, any material harm to a Mortgaged Property or any
other material adverse consequence to the Trust Fund.

      "Environmental Insurance Policy": With respect to any Mortgaged Property
or REO Property, any insurance policy covering pollution conditions and/or other
environmental conditions in effect with respect to such Mortgaged Property or
REO Property.

      "ERISA": The Employee Retirement Income Security Act of 1974, as amended.

      "ERISA Restricted Certificate": Any Non-Investment Grade Sequential Pay
Certificate; provided, that any such Certificate (a) will cease to be considered
an ERISA Restricted Certificate and (b) will cease to be subject to the transfer
restrictions contained in Section 5.02(c) if, as of the date of a proposed
transfer of such Certificate, either (i) it is rated in one of the four highest
generic ratings categories by a Rating Agency or (ii) relevant provisions of
ERISA would permit transfer of such Certificate to a Plan.

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

      "Euroclear": Euroclear Bank S.A./N.V., as operator of the Euroclear
System, or its successor in such capacity.

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

      "Excess Interest": With respect to any ARD Loan after its Anticipated
Repayment Date, all interest accrued on the principal balance of such ARD Loan
at the Excess Interest Rate (the payment of which interest shall, under the
terms of such Loan, be deferred until the entire outstanding principal balance
of such ARD Loan has been paid), together with all interest, if any, accrued at
the related Mortgage Rate on such deferred interest.

      "Excess Interest Distribution Account": The segregated account or
sub-account of the Distribution Account created and maintained by the Trustee
pursuant to Section 4.06, which shall be entitled "LaSalle Bank National
Association, in trust for the registered Holders of Banc of America Commercial
Mortgage, Inc. Commercial Mortgage Pass-Through Certificates, Series 2006-2,
Excess Interest Distribution Account", and which must be an Eligible Account.
The Excess Interest Distribution Account shall not be an asset of the REMIC I or
REMIC II formed hereunder.

      "Excess Interest Grantor Trust": A segregated asset pool within the Trust
Fund consisting of (i) the Excess Interest and (ii) the Excess Interest
Distribution Account and all funds and assets held from time to time on deposit
in the Excess Interest Distribution Account.

      "Excess Interest Rate": With respect to any ARD Loan after its Anticipated
Repayment Date, the incremental increase in the Mortgage Rate for such Loan
resulting from the passage of such Anticipated Repayment Date.

      "Excess Liquidation Proceeds": An amount equal to the excess, if any, of
(a) the Net Liquidation Proceeds from the sale or liquidation of a Specially
Serviced Loan or REO Property, over (b) the sum of: (i) the amount needed to pay
off the Loan or related REO Serviced Loan in full, including any related
Workout-Delayed Reimbursement Amounts, (ii) all unpaid Advances and any unpaid
Advance Interest thereon, and (iii) any related Liquidation Fee. For the
avoidance of doubt, Excess Liquidation Proceeds allocable to a Companion Loan
shall not be an asset of the Trust Fund or REMIC I or REMIC II.

      "Excess Liquidation Proceeds Account": The segregated account or
sub-account of the Distribution Account created and maintained by the Trustee
pursuant to Section 3.04(c)(iv) in trust for the Certificateholders, which shall
be entitled "LaSalle Bank National Association, as Trustee, in trust for the
registered holders of Banc of America Commercial Mortgage Inc. Commercial
Mortgage Pass-Through Certificates, Series 2006-2, Excess Liquidation Proceeds
Account".

      "Exchange Act": The Securities Exchange Act of 1934, as amended, and the
rules and regulations thereunder.

      "Exchange Certificate": The certificate necessary to exchange an interest
in a Regulation S Global Certificate for an interest in a Domestic Global
Certificate, which is in the form of Exhibit Q attached hereto, or the
certificate necessary to exchange an interest in a Domestic Global Certificate
for an interest in a Regulation S Global Certificate, which is in the form of
Exhibit O or Exhibit P, as applicable, hereto, in each case as described in
Section 5.02(m).

      "Fannie Mae": The Federal National Mortgage Association or any successor.

      "FDIC": The Federal Deposit Insurance Corporation or any successor.

      "Final Distribution Date": The final Distribution Date on which any
distributions are to be made on the Certificates as contemplated by Section
9.01.

      "Final Recovery Determination": A determination made by the Special
Servicer, in its reasonable, good faith judgment and in accordance with the
Servicing Standard, with respect to any Loan or REO Property (other than a Loan
that is paid in full and other than a Loan or REO Property, as the case may be,
that is repurchased or replaced by the related Mortgage Loan Seller pursuant to
the related Mortgage Loan Purchase and Sale Agreement or purchased by the Master
Servicer, the Special Servicer or any Controlling Class Certificateholder(s)
pursuant to Section 9.01), that there has been a recovery of all related
Insurance Proceeds, Condemnation Proceeds, Liquidation Proceeds and other
payments or recoveries that will ultimately be recoverable.

      "FIRREA": The Financial Institutions Reform, Recovery and Enforcement Act
of 1989 (as amended).

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

      "Form 8-K Disclosure Information": As defined in Section 11.07.

      "Freddie Mac": The Federal Home Loan Mortgage Corporation or any
successor.

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

      "Grantor Trust": A segregated asset pool within the Trust Fund consisting
of (i) the Excess Interest and (ii) the Excess Interest Distribution Account and
all funds and assets held from time to time on deposit in the Excess Interest
Distribution Account.

      "Ground Lease": The ground lease pursuant to which any Mortgagor holds a
leasehold interest in the related Mortgaged Property and any estoppels or other
agreements executed and delivered by the ground lessor in favor of the lender
under the Mortgage Loan.

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

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

      "GSA-Milwaukee Mezzanine Intercreditor Agreement": That certain
Intercreditor Agreement, dated as of December 30, 2005, by and between Barclays
Capital Real Estate Inc. as "Senior Lender" and the GSA-Milwaukee Mezzanine Loan
Holder as "Mezzanine Lender".

      "GSA-Milwaukee Mezzanine Loan": That certain mezzanine loan related to the
GSA-Milwaukee Mortgage Loan, which is evidenced by that certain Loan Agreement,
dated as of December 30, 2005, by and between 211 W. Wisconsin Owner Holdings,
LLC and 211 W. Wisconsin Master Holdings, LLC and the GSA-Milwaukee Mezzanine
Loan Holder.

      "GSA-Milwaukee Mezzanine Loan Holder": Stark Opportunity Fund One LLC, and
its permitted successors or assigns.

      "GSA-Milwaukee Mortgage Loan": That certain Mortgage Loan identified as
Loan No. 20051493 on the Mortgage Loan Schedule.

      "Hazardous Materials": Any dangerous, toxic or hazardous pollutants,
chemicals, wastes, or substances, including, without limitation, those so
identified pursuant to CERCLA or any other U.S. federal, state or local
environmental related laws and regulations, and specifically including, without
limitation, asbestos and asbestos-containing materials, polychlorinated
biphenyls ("PCBs"), radon gas, petroleum and petroleum products, urea
formaldehyde and any substances classified as being "in inventory", "usable work
in process" or similar classification that would, if classified as unusable, be
included in the foregoing definition.

      "Holder": See the definition of "Certificateholder" in this Section 1.01.

      "HUD-Approved Servicer": A servicer that is a mortgagee approved by the
Secretary of Housing and Urban Development pursuant to Sections 207 and 211 of
the National Housing Act.

      "Independent": When used with respect to any specified Person, any such
Person who (i) is in fact independent of the Depositor, the Master Servicer, the
Special Servicer, the Trustee, the REMIC Administrator and any and all
Affiliates thereof, (ii) does not have any direct financial interest in or any
material indirect financial interest in any of the Depositor, the Master
Servicer, the Special Servicer, the Trustee, the REMIC Administrator or any
Affiliate thereof, and (iii) is not connected with the Depositor, the Master
Servicer, the Special Servicer, the Trustee, the REMIC Administrator or any
Affiliate thereof as an officer, employee, promoter, placement agent, trustee,
partner, director or Person performing similar functions; provided, however,
that a Person shall not fail to be Independent of the Depositor, the Master
Servicer, the Special Servicer, the Trustee, the REMIC Administrator or any
Affiliate thereof merely because such Person is the beneficial owner of 1% or
less of any Class of securities issued by the Depositor, the Master Servicer,
the Special Servicer, the Trustee, the REMIC Administrator or any Affiliate
thereof, as the case may be; provided, further, that such ownership constitutes
less than 1% of the total assets owned by such Person.

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

      "Initial Class XW Notional Amount": With respect to the Class XW
Certificates, the initial Class XW Notional Amount thereof as of the Closing
Date equal to $2,699,084,457.

      "Initial Class Principal Balance": With respect to any Class of Principal
Pay Certificates, the initial Class Principal Balance thereof as of the Closing
Date, in each case as set forth in the Preliminary Statement hereto.

      "Initial Pool Balance": The aggregate Cut-off Date Balance of all the
Mortgage Loans included in the Trust Fund as of the Closing Date.

      "Initial Purchaser": Each of Banc of America Securities LLC, Bear, Stearns
& Co. Inc. and Barclays Capital Inc.

      "Initial Resolution Period": As defined in Section 2.03.

      "Institutional Accredited Investor": As defined in Section 5.02(b).

      "Insurance Policy": With respect to any Loan or REO Property, any hazard
insurance policy, seismic (earthquake) insurance policy, business interruption
insurance policy, flood insurance policy, title policy or other insurance policy
that is maintained from time to time in respect of such Loan (or the related
Mortgaged Property) or in respect of such REO Property, as the case may be.

      "Insurance Proceeds": Proceeds paid under any Insurance Policy, to the
extent such proceeds are not applied to the restoration of the related Mortgaged
Property or REO Property or released to the Mortgagor or any other third party
as permitted under the related loan documents, in either case, in accordance
with the Servicing Standard and with applicable law.

      "Intercreditor Agreements": The Desert Passage Intercreditor Agreement and
the 277 Park Avenue Intercreditor Agreement.

      "Interest Accrual Basis": The basis on which interest accrues in respect
of any Mortgage Loan, any REMIC I Regular Interest or any Class of REMIC II
Regular Certificates, consisting of one of the following: (i) a 30/360 Basis; or
(ii) an Actual/360 Basis.

      "Interest Accrual Period": With respect to each Class of REMIC I Regular
Interests and each Class of REMIC II Regular Certificates for any Distribution
Date, the calendar month immediately preceding the month in which such
Distribution Date occurs.

      "Interest Reserve Account": The segregated account or sub-account of the
Certificate Account created and maintained by the Master Servicer pursuant to
Section 4.05 in trust for the Certificateholders, which shall be entitled
"LaSalle Bank National Association, as Trustee, in trust for the registered
holders of Banc of America Commercial Mortgage Inc. Commercial Mortgage
Pass-Through Certificates, Series 2006-2, Interest Reserve Account".

      "Interested Person": The Depositor, a Mortgage Loan Seller, the Master
Servicer, any Sub-Servicer, the Special Servicer, the Trustee, any Holder of a
Certificate or any Affiliate of any such Person.

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

      "Investment Grade Sequential Pay Certificates": The Class A, Class B,
Class C, Class D, Class E, Class F, Class G and Class H Certificates.

      "Investment Representation Letter": As defined in Section 5.02(b).

      "IRS": The Internal Revenue Service or any successor.

      "Late Collections": With respect to any Serviced Loan, all amounts
received thereon during any Collection Period, whether as payments, Insurance
Proceeds, Condemnation Proceeds, Liquidation Proceeds or otherwise, that
represent late collections of the principal and/or interest portions of a
Monthly Payment (other than a Balloon Payment) or an Assumed Monthly Payment in
respect of such Serviced Loan due or deemed due, as the case may be, for a Due
Date in a previous Collection Period, or for a Due Date coinciding with or
preceding the Cut-off Date, and not previously received or recovered. With
respect to any REO Serviced Loan, all amounts received in connection with the
related REO Property during any Collection Period, whether as Insurance
Proceeds, Condemnation Proceeds, Liquidation Proceeds, REO Revenues or
otherwise, that represent late collections of the principal and/or interest
portions of a Monthly Payment (other than a Balloon Payment) or an Assumed
Monthly Payment in respect of the related Serviced Loan or of an Assumed Monthly
Payment in respect of such REO Serviced Loan due or deemed due, as the case may
be, for a Due Date in a previous Collection Period and not previously received
or recovered.

      "Letter of Credit": With respect to any Loan, any third-party letter of
credit delivered by or at the direction of the Mortgagor pursuant to the terms
of such Loan in lieu of the establishment of, or deposit otherwise required to
be made into, a Reserve Fund.

      "Liquidation Event": With respect to any Serviced Loan, any of the
following events: (i) such Serviced Loan is paid in full; (ii) a Final Recovery
Determination is made with respect to such Serviced Loan; (iii) the related
Mortgage Loan (or related REO Serviced Loan) is repurchased by the related
Mortgage Loan Seller pursuant to Section 4 of the Mortgage Loan Purchase
Agreement; (iv) the related Mortgage Loan is purchased by the Directing
Certificateholder, the Special Servicer or an assignee of such Person pursuant
to Section 3.18(c) or the related Mezzanine Loan Holder (if the related
Defaulted Serviced Loan has a related Mezzanine Loan) pursuant to any Mezzanine
Intercreditor Agreement; or (v) such Loan is purchased by the Special Servicer
or the Master Servicer pursuant to Section 9.01. With respect to any REO
Property (and the related REO Serviced Loan), any of the following events: (i) a
Final Recovery Determination is made with respect to such REO Property or (ii)
such REO Property is purchased by the Master Servicer or the Special Servicer
pursuant to Section 9.01.

      "Liquidation Expenses": All customary, reasonable and necessary
"out-of-pocket" costs and expenses due and owing (but not otherwise covered by
Servicing Advances) in connection with the liquidation of any Specially Serviced
Loan or REO Property (other than any REO Property related to a Non-Serviced
Mortgage Loan) pursuant to Section 3.09 or Section 3.18 (including, without
limitation, legal fees and expenses, committee or referee fees and, if
applicable, brokerage commissions and conveyance taxes).

      "Liquidation Fee": With respect to each Specially Serviced Loan or REO
Property (other than any REO Property related to a Non-Serviced Mortgage Loan),
the fee designated as such and payable to the Special Servicer pursuant to the
third paragraph of Section 3.11(c). Notwithstanding the foregoing and for the
avoidance of doubt, no Liquidation Fee shall be payable in connection with (a)
the purchase of a Defaulted Serviced Loan by the Majority Certificateholder of
the Controlling Class pursuant to any applicable purchase right set forth in
Section 3.18(c), or (l) or with respect to a purchase of a related Defaulted
Serviced Loan at its fair value as determined in Section 3.18, unless such
purchase is by an assignee of the Majority Certificateholder of the Controlling
Class or the Special Servicer, such assignee is not an affiliate of the Majority
Certificateholder of the Controlling Class or the Special Servicer, such
assignment is for no material consideration, and such purchase occurs or
purchase right is exercised more than 90 days from the date that the Special
Servicer has initially determined the fair value of the related mortgage loan,
(b) the purchase of any Mortgage Loan by the holder of a subordinate note or a
Mezzanine Loan pursuant to a purchase option contained in the related
intercreditor agreement, unless such purchase occurs or purchase right is
exercised more than 90 days from the date that the Special Servicer has
initially determined the fair value of the related Mortgage Loan, (c) the
purchase option of the Majority Certificateholder of the Controlling Class, the
Master Servicer or the Special Servicer pursuant to Section 9.01 or (d) the
repurchase by the related Mortgage Loan Seller of a Mortgage Loan so required to
be repurchased by it pursuant to Section 4 of the related Mortgage Loan Purchase
and Sale Agreement and Section 2.03 within the time frame set forth in the
Initial Resolution Period and/or the Resolution Extension Period (if
applicable), provided that such time frame shall never be less than 90 days from
the date that the related Mortgage Loan Seller was first notified of its
obligation to repurchase pursuant to Section 4 of the related Mortgage Loan
Purchase and Sale Agreement and Section 2.03, or (e) in connection with a Loss
of Value Payment by the related Mortgage Loan Seller.

      "Liquidation Fee Rate": With respect to each Specially Serviced Loan or
REO Property as to which a Liquidation Fee is payable, 1.0% (100 basis points).

      "Liquidation Proceeds": All cash amounts (other than Insurance Proceeds,
Condemnation Proceeds and REO Revenues) received by the Master Servicer or the
Special Servicer in connection with: (i) the liquidation of a Mortgaged Property
or other collateral constituting security for a Defaulted Serviced Loan through
trustee's sale, foreclosure sale, REO Disposition or otherwise, exclusive of any
portion thereof required to be released to the related Mortgagor in accordance
with applicable law and/or the terms and conditions of the related loan
documents; (ii) the realization upon any deficiency judgment obtained against a
Mortgagor; (iii) the purchase of a Defaulted Serviced Loan by any Controlling
Class Certificateholder(s) pursuant to Section 3.18(c), by the Special Servicer
pursuant to Section 3.18(d) or by the related Mezzanine Loan Holder pursuant to
the related Mezzanine Intercreditor Agreement; (iv) the repurchase of a Mortgage
Loan by the related Mortgage Loan Seller pursuant to the related Mortgage Loan
Purchase and Sale Agreement or, in the case of any Non-Serviced Mortgage Loan,
by the seller thereof pursuant to any loan purchase agreement; (v) the
substitution of one or more Replacement Mortgage Loans for a Deleted Mortgage
Loan by the related Mortgage Loan Seller pursuant to the related Mortgage Loan
Purchase and Sale Agreement (such cash amounts being any Substitution Shortfall
Amounts); (vi) the purchase of a Mortgage Loan or REO Property by the Master
Servicer, the Special Servicer or any Controlling Class Certificateholder(s)
pursuant to Section 9.01; or (vii) except for purposes of Section 3.11(c), the
transfer of any Loss of Value Payments from the Loss of Value Reserve Fund to
the Certificate Account.

      "Loan": Any Mortgage Loan or Companion Loan.

      "Loan Group": Together, Loan Group 1 and Loan Group 2.

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

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

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

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

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

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

      "Lock-Box Agreement": With respect to any Loan, the lock-box agreement, if
any, between the related originator and the Borrower, pursuant to which an
account created pursuant to the related loan documents to receive revenues
therefrom, if any, may have been established.

      "Lock-Box Account": With respect to any Lock-Box Agreement, the account(s)
established pursuant to the terms of such agreement.

      "Loss of Value Payment": As defined in Section 2.03(i).

      "Loss of Value Reserve Fund": The "outside reserve fund" (within the
meaning of Treasury Regulations Section 1.860G-2(h) designated as such pursuant
to Section 2.12. The Loss of Value Reserve Fund will be part of the Trust, but
not part of the Grantor Trust or any REMIC.

      "MAI": Member of the Appraisal Institute.

      "Majority Certificateholder": With respect to any specified Class or
Classes of Certificates, as of any date of determination, any Holder or
particular group of Holders of Certificates of such Class or Classes, as the
case may be, entitled to a majority of the Voting Rights allocated to such Class
or Classes, as the case may be.

      "Master Servicer": Bank of America, National Association, its successor in
interest or any successor master servicer appointed as herein provided.

      "Master Servicer Remittance Amount": With respect to any Master Servicer
Remittance Date, an amount equal to (a) all amounts on deposit in the
Certificate Account as of the commencement of business on such Master Servicer
Remittance Date, net of (b) any portion of the amounts described in clause (a)
of this definition that represents one or more of the following: (i) collected
Monthly Payments that are due on a Due Date following the end of the related
Collection Period, (ii) any unscheduled payments of principal (including,
without limitation, Principal Prepayments) and interest, Liquidation Proceeds
and Insurance Proceeds received after the end of the related Collection Period,
(iii) any Prepayment Premiums received after the end of the related Collection
Period, (iv) any amounts payable or reimbursable to any Person from the
Certificate Account pursuant to any of clauses (ii) through (xvii) of Section
3.05(a), (v) any Excess Liquidation Proceeds, (vi) any amounts deposited into
the Certificate Account in error, and (vii) with respect to each Mortgage Loan
that accrues interest on an Actual/360 Basis and any Distribution Date relating
to the one-month period preceding the Distribution Date in each February (and in
any January of a year that is not a leap year), an amount equal to the related
Withheld Amount pursuant to Section 4.05; provided that, with respect to the
Master Servicer Remittance Date that occurs in the same calendar month as the
Final Distribution Date, the Master Servicer Remittance Amount will be
calculated without regard to clauses (b)(i), (b)(ii) and (b)(iii) of this
definition; provided, further, that in no event shall any amounts be included in
the Master Servicer Remittance Amount to the extent that it is payable to any
Companion Loan Holder pursuant to the related Intercreditor Agreement.

      "Master Servicer Remittance Date": The Business Day immediately preceding
each Distribution Date.

      "Master Servicing Fee": With respect to each Loan and REO Serviced Loan,
the fee payable to the Master Servicer pursuant to Section 3.11(a) and from
which any Primary Servicing Fee is payable (and, in the case of the Desert
Passage Pari Passu Note A-3 Mortgage Loan and the 277 Park Avenue Pari Passu
Note A-3 Mortgage Loan, without duplication of the "Master Servicing Fee"
payable in respect of the Desert Passage Whole Loan or the 277 Park Avenue Whole
Loan under the Desert Passage Pooling Agreement and the 277 Park Avenue Pooling
Agreement, as applicable).

      "Master Servicing Fee Rate": With respect to each Mortgage Loan and any
related REO Serviced Loan, the Administrative Fee Rate specified for each such
Mortgage Loan on the Mortgage Loan Schedule minus the Trustee Fee Rate.

      "Material Breach": A Breach that materially and adversely affects the
interests of the Certificateholders, or any of them, with respect to the
affected Mortgage Loan, including but not limited to a material and adverse
effect on any of the distributions payable with respect to any of the
Certificates or on the value of such Certificates or such Mortgage Loan.

      "Material Document Defect": A Document Defect that materially and
adversely affects the interests of the Certificateholders, or any of them, with
respect to the affected Mortgage Loan, including but not limited to a material
and adverse effect on any of the distributions payable with respect to any of
the Certificates or on the value of such Certificates or such Mortgage Loan.

      "MERS": Mortgage Electronic Registration Systems, Inc.

      "Mezzanine Intercreditor Agreement": With respect to the Desert Passage
Mezzanine Loan, the Desert Passage Mezzanine Intercreditor Agreement, with
respect to the 55 & 215 West 125th Street Rollup Mezzanine Loan, the 55 & 215
West 125th Street Rollup Mezzanine Intercreditor Agreement, with respect to the
277 Park Avenue Mezzanine Loan, the 277 Park Avenue Mezzanine Intercreditor
Agreement, with respect to The Biltmore Mezzanine Loan, The Biltmore Mezzanine
Intercreditor Agreement, with respect to the Wichita Retail Portfolio Mezzanine
Loan, the Wichita Retail Portfolio Mezzanine Intercreditor Agreement, with
respect to the Sherwood Apartments & Winding Wood Apartments Mezzanine Loan, the
Sherwood Apartments & Winding Wood Apartments Mezzanine Intercreditor Agreement,
with respect to the GSA-Milwaukee Mezzanine Loan, the GSA-Milwaukee Mezzanine
Intercreditor Agreement, with respect to the MOTM Self Storage Huntington
Mezzanine Loan, the MOTM Self Storage Huntington Mezzanine Intercreditor
Agreement, and, with respect to any Mortgage Loan with permitted future
mezzanine indebtedness, the mezzanine intercreditor agreement related to such
future mezzanine loan.

      "Mezzanine Loan": Collectively, the Desert Passage Mezzanine Loan, the 55
& 215 West 125th Street Rollup Mezzanine Loan, the 277 Park Avenue Mezzanine
Loan, The Biltmore Mezzanine Loan, the Wichita Retail Portfolio Mezzanine Loan,
the Sherwood Apartments & Winding Wood Apartments Mezzanine Loan, the
GSA-Milwaukee Mezzanine Loan, the MOTM Self Storage Huntington Mezzanine Loan,
and, with respect to any Mortgage Loan with permitted future mezzanine
indebtedness, such future mezzanine loan.

      "Mezzanine Loan Holder": With respect to the Desert Passage Mezzanine
Loan, the Desert Passage Mezzanine Loan Holder, with respect to the 55 & 215
West 125th Street Rollup Mezzanine Loan, the 55 & 215 West 125th Street Rollup
Mezzanine Loan Holder, with respect to the 277 Park Avenue Mezzanine Loan, the
277 Park Avenue Mezzanine Loan Holder, with respect to The Biltmore Mezzanine
Loan, The Biltmore Mezzanine Loan Holder, with respect to the Wichita Retail
Portfolio Mezzanine Loan, the Wichita Retail Portfolio Mezzanine Loan Holder,
with respect to the Sherwood Apartments & Winding Wood Apartments Mezzanine
Loan, the Sherwood Apartments & Winding Wood Apartments Mezzanine Loan Holder,
with respect to the GSA-Milwaukee Mezzanine Loan, the GSA-Milwaukee Mezzanine
Loan Holder, with respect to the MOTM Self Storage Huntington Mezzanine Loan,
the MOTM Self Storage Huntington Mezzanine Loan Holder, and, with respect to any
Mortgage Loan with permitted future mezzanine indebtedness, the mezzanine lender
under such future mezzanine loan.

      "Modified Serviced Loan": Any Serviced Loan as to which any Servicing
Transfer Event has occurred and that has been modified by the Special Servicer
pursuant to Section 3.20 in a manner that:

            (a) affects the amount or timing of any payment of principal or
      interest due thereon (other than, or in addition to, bringing current
      Monthly Payments with respect to such Serviced Loan);

            (b) except as expressly contemplated by the related loan documents,
      results in a release of the lien of the Mortgage on any material portion
      of the related Mortgaged Property without a corresponding Principal
      Prepayment in an amount or the delivery of substitute real property
      collateral with a fair market value (as is) that is not less than the fair
      market value (as is), as determined by an Appraisal delivered to the
      Special Servicer (at the expense of the related Mortgagor and upon which
      the Special Servicer may conclusively rely), of the property to be
      released; or

            (c) in the good faith and reasonable judgment of the Special
      Servicer, otherwise materially impairs the security for such Serviced Loan
      or reduces the likelihood of timely payment of amounts due thereon.

      "Monthly Payment": With respect to any Loan, for any Due Date as of which
such Loan is outstanding, the scheduled monthly payment (or, in the case of an
ARD Loan after its Anticipated Repayment Date, the minimum required monthly
payment, exclusive of any Excess Interest and any excess cash flow) of principal
and/or interest on such Loan, including, without limitation, a Balloon Payment,
that is actually payable by the related Mortgagor from time to time under the
terms of the related Mortgage Note (as such terms may be changed or modified in
connection with a bankruptcy or similar proceeding involving the related
Mortgagor or a modification, waiver or amendment of such Loan granted or agreed
to by the Master Servicer or Special Servicer pursuant to Section 3.20 and
applicable law); provided that the Monthly Payment due in respect of any ARD
Loan after its Anticipated Repayment Date shall not include Excess Interest.

      "Mortgage": With respect to any Loan, separately and collectively, as the
context may require, each mortgage, deed of trust and/or other similar document
or instrument securing the related Mortgage Note and creating a lien on the
related Mortgaged Property.

      "Mortgage File": With respect to any Mortgage Loan, subject to Sections
1.04 and 2.01, collectively the following documents:

                  (i) (A) the original executed Mortgage Note, endorsed (either
            on the face thereof or pursuant to a separate allonge) "Pay to the
            order of LaSalle Bank National Association, as Trustee for the
            registered holders of Banc of America Commercial Mortgage Inc.
            Commercial Mortgage Pass-Through Certificates, Series 2006-2,
            without recourse" or in blank, and further showing a complete,
            unbroken chain of endorsement from the originator (if such
            originator is other than the related Mortgage Loan Seller); or
            alternatively, if the original executed Mortgage Note has been lost,
            a lost note affidavit and indemnity from the related Mortgage Loan
            Seller with a copy of such Mortgage Note, and (B) in the case of
            each Companion Loan, a copy of the executed Mortgage Note for such
            Companion Loan;

                  (ii) an original or a copy of the Mortgage and any intervening
            assignments that precede the assignment referred to in clause (iv)
            of this definition, in each case (unless the particular item has not
            been returned from the applicable recording office) with evidence of
            recording indicated thereon;

                  (iii) an original or a copy of any related Assignment of
            Leases (if such item is a document separate from the Mortgage) and
            of any intervening assignments thereof that precede the assignment
            referred to in clause (v) of this definition, in each case (unless
            the particular item has not been returned from the applicable
            recording office) with evidence of recording indicated thereon;

                  (iv) subject to the provisos at the end of this paragraph, (A)
            for all Mortgage Loans, an original executed assignment of the
            Mortgage in favor of LaSalle Bank National Association, as Trustee
            for the registered holders of Banc of America Commercial Mortgage
            Inc. Commercial Mortgage Pass-Through Certificates, Series 2006-2 or
            in blank, in recordable form (except for any missing recording
            information with respect to such Mortgage) and (B) in the case of
            each Whole Loan, an original executed assignment of the Mortgage
            also to LaSalle Bank National Association in its capacity as "lead
            lender" on behalf of the holders of the related Companion Loans,
            provided that, if the related Mortgage has not been returned from
            the applicable public recording office, such assignment of Mortgage
            may exclude the information to be provided by the recording office,
            and provided, further, if the related Mortgage has been recorded in
            the name of Mortgage Electronic Registration Systems, Inc. ("MERS")
            or its designee, no assignment of Mortgage in favor of the Trustee
            will be required to be prepared or delivered and instead, the Master
            Servicer shall take all actions as are necessary to cause the
            Trustee to be shown as, and the Trustee shall take all actions
            necessary to confirm that it is shown as, the owner of the related
            Mortgage on the records of MERS for purposes of the system of
            recording transfers of beneficial ownership of mortgages maintained
            by MERS;

                  (v) an original executed assignment of any related Assignment
            of Leases (if such item is a document separate from the Mortgage),
            in favor of LaSalle Bank National Association, as Trustee for the
            registered holders of Banc of America Commercial Mortgage Inc.
            Commercial Mortgage Pass-Through Certificates, Series 2006-2 or in
            blank, in recordable form (except for any missing recording
            information with respect to such Assignment of Leases) and in the
            case of each Whole Loan, also to LaSalle Bank National Association
            in its capacity as "lead lender" or on behalf of the holders of the
            related Companion Loan, provided that 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
            prepared or delivered and instead, the Master Servicer shall take
            all actions as are necessary to cause the Trustee to be shown as,
            and the Trustee shall take all actions necessary to confirm that it
            is shown as, the owner of the related Mortgage on the records of
            MERS for purposes of the system of recording transfers of beneficial
            ownership of mortgages maintained by MERS;

                  (vi) originals or copies of any written assumption,
            modification, written assurance and substitution agreements in those
            instances where the terms or provisions of the Mortgage or Mortgage
            Note have been modified or the Mortgage Loan has been assumed, in
            each case (unless the particular item has not been returned from the
            applicable recording office) with evidence of recording indicated
            thereon if the instrument being modified or assumed is a recordable
            document;

                  (vii) the original or a copy of the policy of lender's title
            insurance or, if such policy has not yet been issued, a "marked-up"
            pro forma title policy or commitment for title insurance marked as
            binding and countersigned by the issuer or its authorized agent
            either on its face or by an acknowledged closing instruction or
            escrow letter;

                  (viii) filed copies of any prior UCC Financing Statements in
            favor of the originator of such Mortgage Loan or in favor of any
            assignee prior to the Trustee (but only to the extent the related
            Mortgage Loan Seller had possession of such UCC Financing Statements
            prior to the Closing Date) and, in connection with such UCC
            Financing Statements, an original UCC-2 or UCC-3, as appropriate, in
            favor of LaSalle Bank National Association, as Trustee for the
            registered holders of Banc of America Commercial Mortgage Inc.
            Commercial Mortgage Pass-Through Certificates, Series 2006-2 or in
            blank, in a form that is complete and suitable for filing or
            recording, and sufficient to assign to the Trustee the security
            interest held by the originator of the Mortgage Loan or its
            assignee; provided, if the related Mortgage Loan has been recorded
            in the name of MERS or its designee, no UCC Financing Statement in
            favor of the Trustee will be required to be prepared or delivered
            and instead, the Master Servicer shall take all actions as are
            necessary to cause the Trustee, on behalf of the Certificateholders,
            to be shown as, and the Trustee shall take all actions necessary to
            confirm that it is shown as, the owner of the related Mortgage on
            the records of MERS for purposes of the system of recording
            transfers of beneficial ownership of mortgages maintained by MERS;

                  (ix) the original or a copy of any environmental indemnity
            agreement and/or environmental report relating solely to such
            Mortgage Loan;

                  (x) the original or a copy of any power of attorney, guaranty,
            loan agreement, Ground Lease and/or Ground Lease estoppels relating
            to such Mortgage Loan;

                  (xi) any original documents (including any security
            agreement(s)) relating to, evidencing or constituting Additional
            Collateral and, if applicable, the originals or copies of any
            intervening assignments thereof;

                  (xii) the original or a copy of any Intercreditor Agreement,
            co-lender agreement, agreement among noteholders or similar
            agreement relating to such Mortgage Loan and a copy of any Letter of
            Credit;

                  (xiii) with respect to hospitality properties, a copy of the
            franchise agreement, an original copy of the comfort letter and any
            transfer documents with respect to such comfort letter, if any;

                  (xiv) a list attached to each Mortgage File indicating the
            documents to be included in each such Mortgage File (the "Mortgage
            Loan Checklist") which list may be modified within 180 days by the
            related Mortgage Loan Seller after the Closing Date to correct any
            errors in accordance with Section 2.02(e);

                  (xv) a copy of the Desert Passage Pooling Agreement; and

                  (xvi) a copy of the 277 Park Avenue Pooling Agreement;

provided that whenever the term "Mortgage File" is used to refer to documents
actually received by the Trustee or by a Custodian on its behalf such term shall
not be deemed to include such documents and instruments required to be included
therein unless they are actually so received; provided, further, however, that
on the Closing Date, with respect to item (iv), the Depositor has delivered to
the Trustee a copy of such assignment of Mortgage in blank and has caused the
Master Servicer to retain the completed assignment of Mortgage for recording as
described below, unless such Mortgage has been recorded in the name of MERS or
its designee.

      With respect to each of the Desert Passage Pari Passu Note A-3 Mortgage
Loan and the 277 Park Avenue Pari Passu Note A-3 Mortgage Loan, the preceding
document delivery requirements shall be deemed to be met by the delivery by the
related Mortgage Loan Seller of copies of the documents specified above (other
than the Desert Passage Pari Passu Note A-3 and the 277 Park Avenue Pari Passu
Note A-3 (and all intervening endorsements), with respect to which the originals
shall be required), including a copy of the related Mortgage.

      "Mortgage Loan": Each of the mortgage loans transferred and assigned to
the Trustee pursuant to Section 2.01 and from time to time held in the Trust
Fund. As used herein, the term "Mortgage Loan" includes the related Mortgage
Note, Mortgage and other security documents contained in the related Mortgage
File.

      "Mortgage Loan Checklist": As defined in the definition of Mortgage File.

      "Mortgage Loan Purchase and Sale Agreement": The Mortgage Loan Purchase
and Sale Agreement dated as of June 22, 2006 between Bank of America and the
Depositor, the Mortgage Loan Purchase and Sale Agreement, dated as of June 22,
2006, between Barclays and the Depositor and the Mortgage Loan Purchase and Sale
Agreement, dated as of June 22, 2006, between Bear Stearns and the Depositor.

      "Mortgage Loan Schedule": The list of Mortgage Loans transferred on the
Closing Date to the Trustee as part of the Trust Fund, which list is attached
hereto as Schedule I and may be amended from time to time in accordance with
Section 2.03(f). The Mortgage Loan Schedule shall set forth, among other things,
the following information with respect to each Mortgage Loan:

                  (i) the loan number, the control number and the trust mortgage
            loan identification number;

                  (ii) the street address or addresses (including city, state
            and zip code) of the related Mortgaged Property.

                  (iii) (a) the Mortgage Rate in effect as of the Cut-off Date
            and (b) whether the Mortgage Loan accrues interest on the basis of
            the actual number of days elapsed in the relevant month of accrual
            and a 360-day year (an "Actual/360 Basis") or on the basis of a
            360-day year consisting of twelve 30-day months (a "30/360 Basis");

                  (iv) the original principal balance;

                  (v) the Cut-off Date Balance;

                  (vi) the (A) remaining term to stated maturity and (B) Stated
            Maturity Date;

                  (vii) the Due Date;

                  (viii) the amount of the Monthly Payment due on the first Due
            Date following the Cut-off Date;

                  (ix) the Administrative Fee Rate (inclusive of the Master
            Servicer Fee Rate, the Trustee Fee Rate, and the Primary Servicing
            Fee Rate);

                  (x) the Primary Se rvicing Fee Rate;

                  (xi) the Master Servicing Fee Rate;

                  (xii) whether the Mortgagor's interest in the related
            Mortgaged Property is or includes a Ground Lease;

                  (xiii) whether the Mortgage Loan is a Cross-Collateralized
            Mortgage Loan and, if so, a reference to the other Mortgage Loans
            that are cross collateralized with such Mortgage Loan;

                  (xiv) the original amortization term;

                  (xv) whether the Mortgage Loan is an ARD Loan;

                  (xvi) the applicable grace period; and

                  (xvii) the Loan Group to which such Mortgage Loan belongs.

      The Mortgage Loan Schedule shall also set forth the aggregate Cut-off Date
Balance for all of the Mortgage Loans. Such list may be in the form of more than
one list, collectively setting forth all of the information required.

      "Mortgage Loan Sellers": Bank of America, Barclays and Bear Stearns.

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

      "Mortgage Pool": Collectively, all of the Mortgage Loans and any successor
REO Serviced Loans. The Mortgage Pool does not include any Companion Loan or any
related REO Serviced Loan.

      "Mortgage Rate": With respect to (i) any Loan on or prior to its Stated
Maturity Date, the annualized rate at which interest is scheduled (in the
absence of a default) to accrue on such Loan from time to time in accordance
with the terms of the related Mortgage Note (as such may be modified at any time
following the Closing Date) and applicable law, (ii) any Loan after its Stated
Maturity Date, the annualized rate described in clause (i) above determined
without regard to the passage of such Stated Maturity Date, and (iii) any REO
Serviced Loan, the annualized rate described in clause (i) or (ii) above, as
applicable, determined as if the related Loan had remained outstanding.

      "Mortgaged Property": Individually and collectively, as the context may
require, each real property (together with all improvements and fixtures
thereon) subject to the lien of a Mortgage and constituting collateral for a
Loan. With respect to any Cross-Collateralized Mortgage Loan, as the context may
require, "Mortgaged Property" may mean, collectively, all the Mortgaged
Properties securing such Cross-Collateralized Mortgage Loan.

      "Mortgagor": The obligor or obligors on a Mortgage Note, including without
limitation, any Person that has acquired the related Mortgaged Property and
assumed the obligations of the original obligor under the Mortgage Note.

      "MOTM Self Storage Huntington Mezzanine Intercreditor Agreement": That
certain Intercreditor Agreement, dated as of May 17, 2006, by and between
Barclays Capital Real Estate Inc. as "Senior Lender" and the MOTM Self Storage
Huntington Mezzanine Loan Holder as "Mezzanine Lender".

      "MOTM Self Storage Huntington Mezzanine Loan": That certain mezzanine loan
related to the MOTM Self Storage Huntington Mortgage Loan, which is evidenced by
that certain Loan Agreement, dated as of May 17, 2006, by and between MOM Realty
LLC and the MOTM Self Storage Huntington Mezzanine Loan Holder.

      "MOTM Self Storage Huntington Mezzanine Loan Holder": RAIT Partnership,
L.P. and its permitted successors or assigns.

      "MOTM Self Storage Huntington Mortgage Loan": That certain Mortgage Loan
identified as Loan No. 20061509 on the Mortgage Loan Schedule.

      "Net Aggregate Prepayment Interest Shortfall": With respect to any
Distribution Date, the amount, if any, by which (a) the aggregate of all
Prepayment Interest Shortfalls incurred in connection with the receipt of
Principal Prepayments during the related Collection Period, exceeds (b) the
amount of the Compensating Interest Payment remitted by the Master Servicer
pursuant to Section 3.19(e) on the Master Servicer Remittance Date related to
such Distribution Date.

      "Net Assumption Fee": As defined in Section 3.08.

      "Net Assumption Application Fee": As defined in Section 3.08.

      "Net Cash Flow": With respect to any Mortgaged Property, the total
operating revenues derived from such Mortgaged Property, minus the total fixed
and variable operating expenses, capital expenditures such as reserves, tenant
improvements and leasing commissions, incurred in respect of such Mortgaged
Property (subject to adjustments for, among other things, (i) non cash items
such as depreciation and amortization, and (ii) debt service on loans secured by
the Mortgaged Property).

      "Net Default Charges": With respect to any Serviced Loan or REO Serviced
Loan, the Default Charges referred to in clause sixth of Section 3.27(a), which
are payable to the Master Servicer as Additional Master Servicing Compensation
or the Special Servicer as Additional Special Servicing Compensation.

      "Net Investment Earnings": With respect to any Investment Account for any
Collection Period, the amount, if any, by which the aggregate of all interest
and other income realized during such Collection Period on funds held in such
Investment Account, exceeds the aggregate of all losses and investment costs, if
any, incurred during such Collection Period in connection with the investment of
such funds in accordance with Section 3.06.

      "Net Investment Loss": With respect to any Investment Account for any
Collection Period, the amount by which the aggregate of all losses and
investment costs, if any, incurred during such Collection Period in connection
with the investment of funds held in such Investment Account in accordance with
Section 3.06, exceeds the aggregate of all interest and other income realized
during such Collection Period on such funds, but Net Investment Loss shall not
include any loss with respect to such investment that is incurred solely as a
result of the insolvency of the federally or state chartered depository
institution or trust company that holds such Investment Account so long as such
depository institution or trust company satisfied the qualifications set forth
in the definition of Eligible Account at the time such investment was made and
so long as such depository institution or trust company is not an Affiliate of
either the Master Servicer or the Special Servicer.

      "Net Liquidation Proceeds": The excess, if any, of all Liquidation
Proceeds received with respect to any Specially Serviced Loan or REO Property,
over the amount of all Liquidation Expenses incurred with respect thereto and
all related Servicing Advances reimbursable therefrom.

      "Net Modification Fee": As defined in Section 3.20(i).

      "Net Modification Application Fee": As defined in Section 3.20(i).

      "Net Mortgage Rate": With respect to any Loan or any related REO Serviced
Loan, as of any date of determination, a rate per annum equal to the related
Mortgage Rate then in effect minus the related Administrative Fee Rate, if
applicable. For purposes of calculating the Pass-Through Rate for each Class of
Certificates (other than the Class V Certificates and the Residual Certificates)
from time to time, the Net Mortgage Rate for any Mortgage Loan will be
calculated without regard to any modification, waiver or amendment of the terms
of such Mortgage Loan subsequent to the Closing Date.

      "Net Operating Income": With respect to any Mortgaged Property, the total
operating revenues derived from such Mortgaged Property for a specified period,
minus the total fixed and variable operating expenses incurred in respect of
such Mortgaged Property (subject to adjustments for, and excluding, among other
things, (i) non-cash items such as depreciation and amortization, (ii) capital
expenditures (inclusive of replacement reserves) and (iii) debt service on loans
secured by the Mortgaged Property).

      "New Lease": Any lease of REO Property (other than any REO Property
related to a Non-Serviced Mortgage Loan) entered into at the direction of the
Special Servicer on behalf of the Trust (and any related Companion Loan Holder,
to the extent of its interest), including any lease renewed, modified or
extended on behalf of the Trust, if the Trust has the right to renegotiate the
terms of such lease.

      "Non-Investment Grade Sequential Pay Certificates": The Class J, Class K,
Class L, Class M, Class N, Class O and Class P Certificates.

      "Non-Partitioned Loans": Each Mortgage Loan, other than the Desert Passage
Pari Passu Note A-3 Mortgage Loan, and the 277 Park Avenue Pari Passu Note A-3
Mortgage Loan.

      "Non-Registered Certificate": Unless and until registered under the
Securities Act, any Class XW, 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 V, Class R-I and
Class R-II Certificate.

      "Non-Serviced Mortgage Loans": Each of the Desert Passage Pari Passu Note
A-3 Mortgage Loan and the 277 Park Avenue Pari Passu Note A-3 Mortgage Loan.

      "Non-Serviced Mortgage Loan Master Servicer": With respect to any
Non-Serviced Mortgage Loan, the "master servicer" designated under the related
Non-Serviced Mortgage Loan Pooling Agreement.

      "Non-Serviced Mortgage Loan Pooling Agreement": Either the Desert Passage
Pooling Agreement or the 277 Park Avenue Pooling Agreement.

      "Non-Serviced Mortgage Loan Primary Servicing Fee": With respect to a
Non-Serviced Mortgage Loan, the servicer fee applicable to such Non-Serviced
Mortgage Loan as provided in the related Non-Serviced Mortgage Loan Pooling
Agreement.

      "Non-Serviced Mortgage Loan Primary Servicing Fee Rate": The rate at which
the Non-Serviced Mortgage Loan Primary Servicing Fee accrues, as set forth in
the Non-Serviced Mortgage Loan Pooling and Servicing Agreement.

      "Non-Serviced Mortgage Loan Special Servicer": With respect to any
Non-Serviced Mortgage Loan, the "special servicer" designated under the related
Non-Serviced Mortgage Loan Pooling Agreement.

      "Non-Serviced Mortgage Loan Trustee": With respect to any Non-Serviced
Mortgage Loan, the "trustee" designated under the related Non-Serviced Mortgage
Loan Pooling Agreement.

      "Non-U.S. Person": Any person other than a U.S. Person.

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

      "Nonrecoverable P&I Advance": As evidenced by the Officer's Certificate
and supporting documentation contemplated by Section 4.03(c), any P&I Advance
previously made or to be made in respect of any Mortgage Loan or any REO
Serviced Loan that, as determined by the Master Servicer, the Special Servicer
or, if applicable, the Trustee, in its reasonable, good faith judgment, based on
at least an Appraisal conducted within the 12 months preceding any such
determination, will not be ultimately recoverable (together with Advance
Interest accrued thereon) from Default Charges, Insurance Proceeds, Condemnation
Proceeds, Liquidation Proceeds or any other recovery on or in respect of such
Mortgage Loan; provided, however, that the Special Servicer may, at its option,
in consultation with the Directing Certificateholder, make a determination in
accordance with the Servicing Standard, that any P&I Advance previously made or
proposed to be made is a Nonrecoverable P&I Advance and shall deliver to the
Master Servicer and the Trustee notice of such determination and any such
determination shall be conclusive and binding on the Master Servicer and the
Trustee.

      "Nonrecoverable Servicing Advance": (a) Any Servicing Advance made or
proposed to be made in respect of a Serviced Loan or REO Property that, as
determined by the Master Servicer or, if applicable, the Special Servicer or the
Trustee in its reasonable and good faith judgment, will not be recoverable
(together with Advance Interest accrued thereon), or that in fact was not
ultimately recovered, from Default Charges, Insurance Proceeds, Liquidation
Proceeds or any other recovery on or in respect of such Serviced Loan or REO
Property (without giving effect to potential recoveries on deficiency judgments
or recoveries from guarantors); provided, however, that the Special Servicer
may, at its option, make a determination in accordance with the Servicing
Standard and Section 3.11(h), that any Servicing Advance previously made or
proposed to be made is a Nonrecoverable Servicing Advance and shall deliver to
the Master Servicer and the Trustee notice of such determination and any such
determination shall be conclusive and binding on the Master Servicer and the
Trustee; and (b) any Desert Passage Nonrecoverable Servicing Advance or 277 Park
Avenue Nonrecoverable Servicing Advance (including interest thereon calculated
in accordance with the Desert Passage Pooling Agreement or 277 Park Avenue
Pooling Agreement, as applicable). The determination as to the recoverability of
any servicing advance previously made or proposed to be made in respect of (i)
the Desert Passage Pari Passu Note A-3 Mortgage Loan shall be made by the Desert
Passage Master Servicer, the Desert Passage Special Servicer or the Desert
Passage Trustee, as the case may be, pursuant to the Desert Passage Pooling
Agreement and (ii) the 277 Park Avenue Pari Passu Note A-3 Mortgage Loan shall
be made by the 277 Park Avenue Master Servicer, the 277 Park Avenue Special
Servicer or the 277 Park Avenue Trustee, as the case may be, pursuant to the 277
Park Avenue Pooling Agreement. Any such determination made by the Desert Passage
Master Servicer, the Desert Passage Special Servicer or the Desert Passage
Trustee or the 277 Park Avenue Master Servicer, the 277 Park Avenue Special
Servicer or the 277 Park Avenue Trustee, as the case may be, shall be conclusive
and binding on the Certificateholders.

      "Officer's Certificate": A certificate signed by a Servicing Officer of
the Master Servicer, the Special Servicer or any Additional Servicer, a
Responsible Officer of the Trustee or any authorized officer of a Mortgage Loan
Seller, as the case may be.

      "Operating Advisor": With respect to any Whole Loan, the advisor elected
pursuant to the related intercreditor agreement.

      "Opinion of Counsel": A written opinion of counsel (who must, in
connection with any opinion rendered pursuant hereto with respect to tax matters
or a resignation under Section 6.04, be Independent counsel, but who otherwise
may be salaried counsel for the Depositor, the Trustee, the REMIC Administrator,
the Master Servicer or the Special Servicer), which written opinion is
acceptable and delivered to the addressee(s).

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

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

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

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

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

      "P&I Advance": As to any Serviced Loan or REO Serviced Loan, any advance
made by the Master Servicer or the Trustee pursuant to Section 4.03.

      "Pass-Through Rate": With respect to any Class of Sequential Pay
Certificates, the rate per annum specified as such in respect of such Class of
Certificates in the Preliminary Statement hereto. With respect to the Class XW
Certificates, for any Distribution Date, the Class XW Pass-Through Rate.

      "Past Grace Period Serviced Loan": With respect to any Master Servicer
Remittance Date, any Serviced Loan having any Monthly Payment remaining unpaid
past its Due Date and past any applicable grace period for such Monthly Payment
as of the Determination Date on the same calendar month.

      "Payment Priority": With respect to any Class of Certificates (other than
the Class V Certificates), the priority of the Holders thereof in respect of the
Holders of the other Classes of Certificates to receive distributions out of the
Available Distribution Amount for any Distribution Date. The Payment Priority of
the respective Classes of Certificates shall be, in descending order, as
follows: first, the respective Classes of Senior Certificates; second, the Class
A-M Certificates; third, the Class A-J Certificates; fourth the Class B
Certificates; fifth, the Class C Certificates; sixth, the Class D Certificates;
seventh, the Class E Certificates; eighth, the Class F Certificates; ninth, the
Class G Certificates; tenth, the Class H Certificates; eleventh, the Class J
Certificates; twelfth, the Class K Certificates; thirteenth, the Class L
Certificates; fourteenth, the Class M Certificates; fifteenth, the Class N
Certificates; sixteenth, the Class O Certificates; seventeenth, the Class P
Certificates; and last, the respective Classes of Residual Certificates.

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

      "Performance Certification": As defined in Section 11.06.

      "Performing Serviced Loan": As of any date of determination, any Serviced
Loan as to which no Servicing Transfer Event then exists.

      "Performing Party": As defined in Section 11.12.

      "Permitted Investments": Any one or more of the following obligations:

            (a) direct obligations of, or obligations fully guaranteed as to
      timely payment of principal and interest by, the United States or any
      agency or instrumentality thereof, provided such obligations are backed by
      the full faith and credit of the United States;

            (b) repurchase obligations with respect to any security described in
      clause (a) above, provided that the long-term unsecured debt obligations
      of the party agreeing to repurchase such obligations are rated "AA+" by
      Fitch and "AAA" by S&P;

            (c) federal funds, uncertificated certificates of deposit, time
      deposits and bankers' acceptances (having original maturities of not more
      than 365 days) of any bank or trust company organized under the laws of
      the United States or any state, provided that the short-term unsecured
      debt obligations of such bank or trust company are rated no less than
      "F-1+" by Fitch and "A-1+" by S&P;

            (d) commercial paper (having original maturities of not more than
      365 days) of any corporation incorporated under the laws of the United
      States or any state thereof rated no less than "F-1+" by Fitch and "A-1+"
      by S&P;

            (e) units of money market funds that maintain a constant asset value
      and that are rated in the highest applicable rating category by each of
      Fitch (or if not rated by Fitch a confirmation from Fitch that such money
      market fund is acceptable) and S&P (i.e., "AAAm" or "AAAmG"); and

            (f) any other obligation or security that would not result in the
      downgrade, qualification (if applicable) or withdrawal of the rating then
      assigned by any of the Rating Agencies to any Class of Certificates,
      evidence of which shall be confirmed in writing by each Rating Agency to
      the Trustee;

provided that no investment described hereunder shall evidence either the right
to receive (a) only interest with respect to such investment or (b) a yield to
maturity greater than 120% of the yield to maturity at par of the underlying
obligations; and provided, further, that no investment described hereunder may
be purchased at a price greater than par if such investment may be prepaid or
called at a price less than its purchase price prior to stated maturity; and
provided, further, that each investment described hereunder shall, by its terms,
have a predetermined fixed amount of principal due at maturity (that cannot vary
or change) and either a fixed interest rate or variable interest rate tied to a
single interest rate index plus a single fixed spread; and provided, further,
that each investment described hereunder shall be a "cash flow investment", as
defined in the REMIC Provisions; and provided, further, that no investment
described hereunder shall have a maturity in excess of one year; and provided,
further, that no investment described hereunder shall be liquidated prior to its
maturity date; and provided, further, that no investment described hereunder may
have an "r" highlighter or other comparable qualifier attached to its rating.

      "Permitted Mezzanine Loan Holder": With respect to the Mezzanine Loans,
any "qualified transferee" with respect to which each Rating Agency has
confirmed in writing that the holding of the related Mezzanine Loan by such
Person would not cause a qualification, downgrade or withdrawal of any of such
Rating Agency's then-current ratings on the Certificates or that otherwise meets
the qualifications set forth in the related Mezzanine Intercreditor Agreement to
be a "qualified transferee".

      "Permitted Transferee": Any Transferee of a Residual Certificate other
than any of a Plan or a Person acting on behalf of or using the assets of a
Plan, a Disqualified Organization, a Disqualified Non-U.S. Person, an entity
treated as a U.S. partnership for federal income tax purposes if any of its
direct or indirect partners (other than through a U.S. corporation) is a
Disqualified Non-U.S. Person or a U.S. Person with respect to whom income on a
Residual Certificate is attributable to a foreign permanent establishment or
fixed base, within the meaning of an applicable income tax treaty, of such
Person or any other U.S. Person or any nominee, agent or middleman of any of the
above.

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

      "Phase I Environmental Assessment": A "Phase I assessment" or, in the case
of any Serviced Loan having an initial principal balance under $1,000,000, a
transaction screen, as described in, and meeting the criteria of the American
Society for Testing and Materials.

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

      "Prepayment Assumption": The assumption that no Mortgage Loan (other than
an ARD Loan) is prepaid prior to its Stated Maturity Date and that no ARD Loan
is prepaid prior to, but each is paid in its entirety on, its Anticipated
Repayment Date, such assumption to be used for determining the accrual of
original issue discount, market discount and premium, if any, on the Mortgage
Loans, the REMIC I Regular Interests and the REMIC II Regular Certificates for
federal income tax purposes.

      "Prepayment Interest Excess": With respect to any Serviced Loan that was
subject to a Principal Prepayment in full or in part made on or prior to the
Determination Date in any calendar month but after such Serviced Loan's Due
Date, any payment of interest (net of related Master Servicing Fees and Excess
Interest and exclusive of Prepayment Premiums) actually collected from the
related Mortgagor from and after such Due Date.

      "Prepayment Interest Shortfall": With respect to any Serviced Loan that
was subject to a Principal Prepayment in full or in part made after the
Determination Date in any calendar month, the amount of uncollected interest
(determined without regard to any Prepayment Premium that may have been
collected and exclusive of, in the case of an ARD Loan after its Anticipated
Repayment Date, Excess Interest) that would have accrued at a per annum rate
equal to the sum of the Net Mortgage Rate for such Serviced Loan plus the
Trustee Fee Rate, on the amount of such Principal Prepayment during the period
commencing on the date as of which such Principal Prepayment was applied to such
Serviced Loan and ending on the last day of such calendar month, inclusive.

      "Prepayment Premium": Any premium, penalty or fee paid or payable, as the
context requires, by a Mortgagor in connection with a Principal Prepayment on,
or other early collection of principal of, a Loan or any successor REO Serviced
Loan.

      "Primary Collateral": The Mortgaged Property directly securing a
Cross-Collateralized Mortgage Loan excluding, however, any Mortgaged Property as
to which the related lien may only be foreclosed upon solely because of the
cross-collateralization of such Mortgage Loans.

      "Primary Servicing Fee": With respect to each Mortgage Loan that is
subject to a Sub-Servicing Agreement as of the Closing Date, the monthly fee
payable to the Sub-Servicer by the Master Servicer from the Master Servicing
Fee, which monthly fee accrues at the Primary Servicing Fee Rate.

      "Primary Servicing Fee Rate": With respect to each Mortgage Loan that is
subject to a Sub-Servicing Agreement as of the Closing Date, the rate per annum
specified as such in the Mortgage Loan Schedule.

      "Primary Servicing Office": With respect to the Master Servicer, the
office thereof primarily responsible for performing its respective duties under
this Agreement, initially located in Charlotte, North Carolina, and, with
respect to the Special Servicer, the office thereof primarily responsible for
performing its respective duties under this Agreement, initially located in
Florida.

      "Principal Distribution Amount": With respect to any Distribution Date and
in respect of any Mortgage Loan, the aggregate of the Current Principal
Distribution Amount for such Distribution Date and, if such Distribution Date is
subsequent to the initial Distribution Date, the excess, if any, of the
Principal Distribution Amount for the preceding Distribution Date, over the
aggregate distributions of principal made on the Sequential Pay Certificates on
the preceding Distribution Date; provided that the Principal Distribution Amount
for any Distribution Date shall be reduced by the amount of any reimbursements
of Nonrecoverable Advances or Workout-Delayed Reimbursement Amounts plus
interest on such Nonrecoverable Advances or Workout-Delayed Reimbursement
Amounts that are paid or reimbursed from principal collections on the Mortgage
Loans in a period during which such principal collections would have otherwise
been included in the Principal Distribution Amount for such Distribution Date
(provided, that if any of the amounts that were reimbursed from principal
collections on the Mortgage Loans are subsequently recovered on the related
Mortgage Loan, such recovery will increase the Principal Distribution Amount for
the Distribution Date related to the period in which such recovery occurs).

      "Principal Pay Certificates": Collectively, the Sequential Pay
Certificates.

      "Principal Prepayment": Any voluntary payment of principal made by the
Mortgagor on a Loan that is received in advance of its scheduled Due Date and
that is not accompanied by an amount of interest (without regard to any
Prepayment Premium that may have been collected) representing scheduled interest
due on any date or dates in any month or months subsequent to the month of
prepayment.

      "Prohibited Actions": As defined in Section 3.21(f).

      "Prospectus Supplement": That certain prospectus supplement dated June 12,
2006, relating to the Class A-1, Class A-2, Class A-3, Class A-AB, Class A-4,
Class A-1A, Class A-M, Class A-J, Class B and Class C Certificates, that is a
supplement to the Base Prospectus.

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

      "Purchase Price": With respect to any Mortgage Loan, a price equal to the
unpaid principal balance of the Mortgage Loan as of the date of purchase,
together with (a) all accrued and unpaid interest (excluding, in the case of an
ARD Loan after its Anticipated Repayment Date, Excess Interest) on the Mortgage
Loan at the related Mortgage Rate up to but not including the Due Date in the
Collection Period of purchase, (b) all related unreimbursed Master Servicing
Fees, Special Servicing Fees, Trustee Fees and Servicing Advances that are
unreimbursed from related collections on such Mortgage Loan (including, in the
case of a Non-Serviced Mortgage Loan, the pro rata portion, based on the related
Stated Principal Balance, of any servicing advance made pursuant to the related
Non-Serviced Mortgage Loan Pooling Agreement that is allocable to such
Non-Serviced Mortgage Loan and unpaid fees payable to the Non-Serviced Mortgage
Loan Servicer or the Non-Serviced Mortgage Loan Special Servicer), (c) all
accrued and unpaid Advance Interest in respect of related Advances, (d) any
Additional Trust Fund Expenses in respect of such Mortgage Loan (including any
Additional Trust Fund Expenses previously reimbursed or paid by the Trust Fund
but not so reimbursed by the related Mortgagor or other party or from Insurance
Proceeds or Condemnation Proceeds or otherwise), (e) Liquidation Fees (if any)
payable in connection with a purchase of a Mortgage Loan and (f) any cost, fees
and expenses of enforcement (including attorneys fees) of a repurchase
obligation pursuant to Section 2.03(h). With respect to any REO Property, a
price equal to the unpaid principal balance of the related REO Serviced Loan as
of the date of purchase, together with (a) all accrued and unpaid interest
(excluding, in the case of an ARD Loan after its Anticipated Repayment Date,
Excess Interest) on such REO Serviced Loan at the related Mortgage Rate to but
not including the Due Date in the Collection Period of purchase, (b) all related
Servicing Advances that are unreimbursed from related collections on such REO
Property, (c) all accrued and unpaid Advance Interest in respect of related
Advances, (d) any Additional Trust Fund Expenses in respect of such REO Property
(including any Additional Trust Fund Expenses previously reimbursed or paid by
the Trust Fund but not so reimbursed by the related Mortgagor or other party or
from Insurance Proceeds or Condemnation Proceeds or otherwise), (e) Liquidation
Fees (if any) payable in connection with a purchase of a Mortgage Loan and (f)
any cost, fees and expenses of enforcement (including attorneys fees) of a
repurchase obligation pursuant to Section 2.03. The Purchase Price of any
Mortgage Loan or REO Property is intended to include, without limitation,
principal and interest previously advanced with respect thereto and not
previously reimbursed.

      "Qualified Appraiser": In connection with the appraisal of any Loan,
Mortgaged Property or REO Property, an Independent MAI-designated appraiser with
at least five years of experience in respect of the relevant geographic location
and property type.

      "Qualified Bidder": As defined in Section 7.01(d).

      "Qualified Institutional Buyer": As defined in Section 5.02(b).

      "Qualified Insurer": An insurance company or security or bonding company
qualified to write the related Insurance Policy in the relevant jurisdiction.

      "Qualifying Substitute Mortgage Loan": In connection with the replacement
of a Defective Mortgage Loan as contemplated by Section 2.03, any other mortgage
loan that, on the date of substitution, (i) has a principal balance, after
deduction of the principal portion of any unpaid Monthly Payment due on or
before the date of substitution, not in excess of the Stated Principal Balance
of the Defective Mortgage Loan; (ii) is accruing interest at a fixed rate of
interest at least equal to that of the Defective Mortgage Loan; (iii) has the
same Due Date as, and a grace period for delinquent Monthly Payments that is no
longer than, the Due Date and grace period, respectively, of the Defective
Mortgage Loan; (iv) is accruing interest on the same basis as the Defective
Mortgage Loan (for example, on the basis of a 360-day year consisting of twelve
30-day months); (v) has a remaining term to stated maturity not greater than,
and not more than two years less than, that of the Defective Mortgage Loan and,
in any event, has a maturity date not later than two years prior to the Rated
Final Distribution Date; (vi) has a then current loan-to-value ratio not higher
than, and a then current debt service coverage ratio not lower than, the
loan-to-value ratio and debt service coverage ratio, respectively, of the
Defective Mortgage Loan as of the Closing Date; (vii) has comparable prepayment
restrictions to those of the Defective Mortgage Loan, (viii) will comply (except
in a manner that would not be adverse to the interests of the Certificateholders
(as a collective whole) in or with respect to such mortgage loan), as of the
date of substitution, with all of the representations relating to the Defective
Mortgage Loan set forth in or made pursuant to the related Mortgage Loan
Purchase and Sale Agreement; (ix) has a Phase I Environmental Assessment and a
property condition report relating to the related Mortgaged Property in its
Servicing File, which Phase I Environmental Assessment will evidence that there
is no material adverse environmental condition or circumstance at the related
Mortgaged Property for which further remedial action may be required under
applicable law, and which property condition report will evidence that the
related Mortgaged Property is in good condition with no material damage or
deferred maintenance; and (x) constitutes a "qualified replacement mortgage"
within the meaning of Section 860G(a)(4) of the Code; provided, however, that if
more than one mortgage loan is to be substituted for any Defective Mortgage
Loan, then all such proposed Replacement Mortgage Loans shall, in the aggregate,
satisfy the requirement specified in clause (i) of this definition and each such
proposed Replacement Mortgage Loan shall, individually, satisfy each of the
requirements specified in clauses (ii) through (x) of this definition; and
provided, further, that no mortgage loan shall be substituted for a Defective
Mortgage Loan unless (x) such prospective Replacement Mortgage Loan shall be
acceptable to the Directing Certificateholder (or, if there is no Directing
Certificateholder then serving, to the Holders of Certificates representing a
majority of the Voting Rights allocated to the Controlling Class), in its (or
their) sole discretion, and (y) each Rating Agency shall have confirmed in
writing to the Trustee that such substitution will not in and of itself result
in an Adverse Rating Event with respect to any Class of Rated Certificates (such
written confirmation to be obtained by, and at the expense of, the related
Mortgage Loan Seller effecting the substitution).

      "Rated Certificate": Any of the Certificates to which a rating has been
assigned by either Rating Agency at the request of the Depositor.

      "Rated Final Distribution Date": As to each Class of Certificates, the
Distribution Date in May 2045.

      "Rating Agency": Each of Fitch and S&P or their successors in interest.

      "Realized Loss": With respect to each Defaulted Serviced Loan as to which
a Final Recovery Determination has been made, or with respect to any related REO
Serviced Loan as to which a Final Recovery Determination has been made as to the
related REO Property, an amount (not less than zero) equal to (i) the unpaid
principal balance of such Serviced Loan or REO Serviced Loan, as the case may
be, as of the Due Date related to the Collection Period in which the Final
Recovery Determination was made, plus (ii) all accrued but unpaid interest on
such Serviced Loan or REO Serviced Loan, as the case may be, at the related
Mortgage Rate to but not including the Due Date related to the Collection Period
in which the Final Recovery Determination was made, plus (iii) any related
unreimbursed Servicing Advances as of the commencement of the Collection Period
in which the Final Recovery Determination was made, together with any new
related Servicing Advances made during such Collection Period, minus (iv) all
payments and proceeds, if any, received in respect of such Collection Period
related to the Serviced Loan or REO Serviced Loan, as the case may be, during
the Collection Period in which such Final Recovery Determination was made (net
of any related Liquidation Expenses paid therefrom).

      With respect to any Serviced Loan as to which any portion of the
outstanding principal or accrued interest owed thereunder was forgiven in
connection with a bankruptcy or similar proceeding involving the related
Mortgagor or a modification, waiver or amendment of such Serviced Loan granted
or agreed to by the Master Servicer or Special Servicer pursuant to Section
3.20, the amount of such principal or past due interest (other than any Default
Interest) so forgiven.

      With respect to any Serviced Loan as to which the Mortgage Rate thereon
has been permanently reduced and not recaptured for any period in connection
with a bankruptcy or similar proceeding involving the related Mortgagor or a
modification, waiver or amendment of such Serviced Loan granted or agreed to by
the Master Servicer or Special Servicer pursuant to Section 3.20, the amount of
the consequent reduction, if any, in the interest portion of each successive
Monthly Payment due thereon. Each such Realized Loss shall be deemed to have
been incurred on the Due Date for each affected Monthly Payment.

      With respect to the Desert Passage Pari Passu Note A-3 Mortgage Loan,
Realized Losses shall be calculated in accordance with the Desert Passage
Pooling Agreement. Such Realized Losses shall be allocated as provided in the
Desert Passage Pooling Agreement and the Desert Passage Intercreditor Agreement
and further allocated to the Certificates as provided in this Agreement.

      With respect to the 277 Park Avenue Pari Passu Note A-3 Mortgage Loan,
Realized Losses shall be calculated in accordance with the 277 Park Avenue
Pooling Agreement. Such Realized Losses shall be allocated as provided in the
277 Park Avenue Pooling Agreement and the 277 Park Avenue Intercreditor
Agreement and further allocated to the Certificates as provided in this
Agreement.

      "Record Date": With respect to each Class of Certificates, for any
Distribution Date, the last Business Day of the calendar month immediately
preceding the month in which such Distribution Date occurs.

      "Registered Certificates": Any Certificate that has been registered under
the Securities Act.

      "Regulation AB": Subpart 229.1100 - Asset Backed Securities (Regulation
AB), 17 C.F.R. ss.ss.229.1100-229.1123, as such may be amended from time to
time, and subject to such clarification and interpretation as have been provided
by the Commission in the adopting release (Asset-Backed Securities, Securities
Act Release No. 33-8518, 70 Fed. Reg. 1,506 - 1,531 (Jan. 7, 2005), or as may be
provided by the Commission or its staff from time to time.

      "Regulation S": Regulation S under the Securities Act.

      "Regulation S Certificate": A certificate in the form of Exhibit N
attached hereto.

      "Regulation S Global Certificate": A global certificate representing
interests in a Class of Certificates as provided in Section 5.03(g), initially
sold in offshore transactions in reliance on Regulation S in fully registered
form without interest coupons.

      "Reimbursement Rate": The rate per annum applicable to the accrual of
Advance Interest, which rate per annum shall be equal to the "prime rate" as
published in the "Money Rates" section of The Wall Street Journal, as such
"prime rate" may change from time to time. If The Wall Street Journal ceases to
publish such "prime rate", then the Trustee, in its sole discretion, shall
select an equivalent publication that publishes such "prime rate"; and if such
"prime rate" is no longer generally published or is limited, regulated or
administered by a governmental or quasi governmental body, then the Trustee
shall select a comparable interest rate index. In either case, such selection
shall be made by the Trustee in its sole discretion and the Trustee shall notify
the Master Servicer and the Special Servicer in writing of its selection.

      "Release Date": The 40th day after the later of (i) the commencement of
the offering of the Certificates and (ii) the Closing Date.

      "Relevant Servicing Criteria": The Servicing Criteria applicable to the
various parties, as set forth on Schedule VIII attached hereto. For the
avoidance of doubt, multiple parties can have responsibility for the same
Relevant Servicing Criteria. With respect to a Servicing Function Participant
engaged by the Trustee, the Master Servicer or the Special Servicer, the term
"Relevant Servicing Criteria" may refer to a portion of the Relevant Servicing
Criteria applicable to the Master Servicer, the Special Servicer or the Trustee.

      "REMIC": A "real estate mortgage investment conduit" as defined in Section
860D of the Code.

      "REMIC Administrator": LaSalle Bank National Association, its successor in
interest, or any successor REMIC administrator appointed as herein provided.

      "REMIC I": A segregated pool of assets subject hereto and to be
administered hereunder, with respect to which a REMIC election is to be made,
consisting of: (i) the Mortgage Loans (other than Excess Interest) as from time
to time are subject to this Agreement and all payments under and proceeds of the
Mortgage Loans received or receivable after the Cut-off Date (other than
payments of principal, interest and other amounts due and payable on such
Mortgage Loans on or before the Cut-off Date), together with all documents,
Escrow Payments and Reserve Funds delivered or caused to be delivered hereunder
by the Mortgage Loan Sellers with respect to the Mortgage Loans; (ii) any REO
Property acquired in respect of a Mortgage Loan and all payments and proceeds of
such REO Property; (iii) the rights of the Depositor under Sections 2, 3, 4, 11,
12, 13, 14, 15, 16, 17, 18, 19, 20, 21 and 22 of the Mortgage Loan Purchase and
Sale Agreements, and (iv) such amounts on or with respect to clauses (i), or
(ii) as from time to time are deposited into the Distribution Account, the
Certificate Account, the Interest Reserve Account and the REO Account (if
established) and the Excess Liquidation Proceeds Account (if established).

      "REMIC I Distribution Account": The segregated account or accounts created
and maintained as a separate trust account or accounts by the Trustee pursuant
to Section 3.04, which shall be entitled "LaSalle Bank National Association, as
Trustee, in trust for Holders of Banc of America Commercial Mortgage Inc.
Commercial Mortgage Pass-Through Certificates, Series 2006-2, REMIC I
Distribution Account" and which account shall be an Eligible Account and a
sub-account of the Distribution Account.

      "REMIC I Principal Balance": The principal amount of any REMIC I Regular
Interest outstanding as of any date of determination. As of the Closing Date,
the REMIC I Principal Balance of each REMIC I Regular Interest shall equal the
initial REMIC I Principal Balance as set forth in the Preliminary Statement
hereto. On each Distribution Date, the REMIC I Principal Balance of each REMIC I
Regular Interest shall be permanently reduced by all distributions of principal
deemed to have been made in respect of such REMIC I Regular Interest on such
Distribution Date pursuant to Section 4.01(a), and shall be further permanently
reduced on such Distribution Date by all Realized Losses and Additional Trust
Fund Expenses deemed to have been allocated thereto on such Distribution Date
pursuant to Section 4.04(b).

      "REMIC I Regular Interest": Any of the separate non-certificated
beneficial ownership interests in REMIC I issued hereunder and designated as a
"regular interest" in REMIC I, as described in the Preliminary Statement hereto.

      "REMIC I Remittance Rate": With respect to any REMIC I Regular Interest
for any Distribution Date, the Weighted Average Adjusted Net Mortgage Rate.

      "REMIC II": A segregated pool of assets subject hereto and to be
administered hereunder, and consisting of all of the REMIC I Regular Interests
and amounts distributed thereon as from time to time are held in the REMIC II
Distribution Account.

      "REMIC II Certificate": Any Certificate, other than a Class R-I
Certificate or Class V Certificate.

      "REMIC II Distribution Account": The segregated account or accounts
created and maintained as a separate trust account or accounts by the Trustee
pursuant to Section 3.04, which shall be entitled "LaSalle Bank National
Association, as Trustee, in trust for Holders of Banc of America Commercial
Mortgage Inc. Commercial Mortgage Pass-Through Certificates, Series 2006-2,
REMIC II Distribution Account" and which account shall be an Eligible Account
and a sub-account of the Distribution Account.

      "REMIC II Regular Certificate": Any REMIC II Certificate, other than a
Class R-II Certificate.

      "REMIC Provisions": Provisions of the federal income tax law relating to
real estate mortgage investment conduits, which appear at Sections 860A through
860G of Subchapter M of Chapter 1 of the Code, and related provisions, and
temporary and final Treasury regulations (or proposed regulations that would
apply by reason of their proposed effective date to the extent not inconsistent
with temporary or final regulations) and any rulings promulgated thereunder, as
the foregoing may be in effect from time to time.

      "Rents from Real Property": With respect to any REO Property (other than
any REO Property to the extent related to a Non-Serviced Mortgage Loan), gross
income of the character described in Section 856(d) of the Code, which income,
subject to the terms and conditions of that Section of the Code in its present
form, does not include:

            (a) except as provided in Section 856(d)(4) or (6) of the Code, any
      amount received or accrued, directly or indirectly, with respect to such
      REO Property, if the determination of such amount depends in whole or in
      part on the income or profits derived by any Person from such property
      (unless such amount is a fixed percentage or percentages of receipts or
      sales and otherwise constitutes Rents from Real Property);

            (b) any amount received or accrued, directly or indirectly, from any
      Person if the Trust Fund owns directly or indirectly (including by
      attribution) a ten percent or greater interest in such Person determined
      in accordance with Sections 856(d)(2)(B) and (d)(5) of the Code;

            (c) any amount received or accrued, directly or indirectly, with
      respect to such REO Property if any Person Directly Operates such REO
      Property;

            (d) any amount charged for services that are not customarily
      furnished in connection with the rental of property to tenants in
      buildings of a similar class in the same geographic market as such REO
      Property within the meaning of Treasury Regulations Section 1.856-4(b)(1)
      (whether or not such charges are separately stated); and

            (e) rent attributable to personal property unless such personal
      property is leased under, or in connection with, the lease of such REO
      Property and, for any taxable year of the Trust Fund, such rent is no
      greater than 15 percent of the total rent received or accrued under, or in
      connection with, the lease.

      "REO Account": A segregated custodial account or accounts created and
maintained by the Special Servicer pursuant to Section 3.16(b) on behalf of the
Trustee in trust for the Certificateholders, which shall be entitled "LNR
Partners, Inc., as Special Servicer, for the benefit of LaSalle Bank National
Association, as Trustee, in trust for registered Holders of Banc of America
Commercial Mortgage Inc. Commercial Mortgage Pass-Through Certificates, Series
2006-2, REO Account". Any such account or accounts shall be an Eligible Account.

      "REO Acquisition": The acquisition of an REO Property for federal income
tax purposes pursuant to Treasury Regulations Section 1.856-6.

      "REO Disposition": The sale or other disposition of the REO Property
pursuant to Section 3.18.

      "REO Extension": As defined in Section 3.16(a).

      "REO Property": A Mortgaged Property acquired by the Special Servicer on
behalf of the Trustee for the benefit of the Certificateholders, and, in the
case of the Desert Passage Pari Passu Note A-3 Mortgage Loan and the 277 Park
Avenue Pari Passu Note A-3 Mortgage Loan, the beneficial interest of the Trust
Fund in the related Mortgaged Property if it is acquired by the Desert Passage
Special Servicer or the 277 Park Avenue Special Servicer, as applicable, for the
benefit of the Certificateholders and the Desert Passage Pari Passu Noteholders
or the 277 Park Avenue Noteholders, as applicable) pursuant to Section 3.09
through foreclosure, acceptance of a deed-in-lieu of foreclosure or otherwise in
accordance with applicable law in connection with the default or imminent
default of a Loan. For the avoidance of doubt, REO Property allocable to a
Companion Loan shall not be an asset of the Trust Fund or REMIC I or REMIC II.

      "REO Revenues": All income, rents, profits and proceeds derived from the
ownership, operation or leasing of any REO Property.

      "REO Serviced Loan": The mortgage loan deemed for purposes hereof to be
outstanding with respect to each REO Property acquired in respect of any
Serviced Loan or, with respect to Desert Passage Pari Passu Note A-3 Mortgage
Loan, which is serviced under the Desert Passage Pooling Agreement, the Trust's
interest in the "REO Property" acquired under the Desert Passage Pooling
Agreement relating to the Desert Passage Whole Loan or, with respect to 277 Park
Avenue Pari Passu Note A-3 Mortgage Loan, which is serviced under the 277 Park
Avenue Pooling Agreement, the Trust's interest in the "REO Property" acquired
under the 277 Park Avenue Pooling Agreement relating to the 277 Park Avenue
Whole Loan. Each REO Serviced Loan shall be deemed to have an initial unpaid
principal balance and Stated Principal Balance equal to the unpaid principal
balance and Stated Principal Balance, respectively, of the predecessor Loan as
of the date of the related REO Acquisition. In addition, all Monthly Payments
(other than any Balloon Payment), Assumed Monthly Payments (in the case of a
Balloon Loan delinquent in respect of its Balloon Payment) and other amounts due
and owing, or deemed to be due and owing, in respect of the predecessor Serviced
Loan as of the date of the related REO Acquisition, shall be deemed to continue
to be due and owing in respect of an REO Serviced Loan. In addition,
Nonrecoverable Advances (including interest on such Nonrecoverable Advances) and
Workout-Delayed Reimbursement Amounts with respect to such REO Serviced Loan
that were reimbursed from collections on the Serviced Loans and resulted in
principal distributed to the Certificateholders being reduced as a result of the
first proviso of the definition of "Principal Distribution Amount", shall be
deemed outstanding until recovered or until a Final Recovery Determination is
made. All amounts payable or reimbursable to the Master Servicer, the Special
Servicer and/or the Trustee in respect of the related Serviced Loan as of the
date of the related REO Acquisition, including, without limitation, any unpaid
Servicing Fees and any unreimbursed Advances, together with any Advance Interest
accrued and payable to the Master Servicer, the Special Servicer and/or the
Trustee in respect of such Advances, shall continue to be payable or
reimbursable to the Master Servicer, the Special Servicer and/or the Trustee as
the case may be, in respect of an REO Serviced Loan. Collections in respect of
each REO Serviced Loan (exclusive of the amounts to be applied to the payment
of, or to be reimbursed to the Master Servicer or the Special Servicer for the
payment of, Servicing Fees, Special Servicing Fees, Additional Master Servicing
Compensation, Additional Special Servicing Compensation, Liquidation Fees, the
costs of operating, managing, selling, leasing and maintaining the related REO
Property) shall be treated: first, as a recovery of Nonrecoverable Advances
(including interest on such Nonrecoverable Advance) and Workout-Delayed
Reimbursed Amounts with respect to such REO Serviced Loan, that were reimbursed
from collections on the Serviced Loans and resulted in principal distributed to
the Certificateholders being reduced as a result of the first proviso of the
definition of "Principal Distribution Amount"; second, as a recovery of accrued
and unpaid interest on such REO Serviced Loan at the related Mortgage Rate in
effect from time to time to but not including the Due Date in the Collection
Period of receipt; third, as a recovery of principal of such REO Serviced Loan
to the extent of its entire unpaid principal balance; fourth, in accordance with
the Servicing Standard of the Master Servicer or the Special Servicer, as
applicable, as a recovery of any other amounts due and owing in respect of such
REO Serviced Loan; fifth, as a recovery of any other amounts deemed to be due
and owing in respect of the related REO Serviced Loan (other than, in the case
of an REO Serviced Loan that relates to an ARD Loan after its Anticipated
Repayment Date, accrued and unpaid Excess Interest); and sixth, in the case of
an REO Serviced Loan that relates to an ARD Loan after its Anticipated Repayment
Date, as a recovery of any accrued and unpaid Excess Interest on such REO
Serviced Loan to but not including the date of receipt by or on behalf of the
Trust, in that order. If the Desert Passage Pari Passu Note A-3 Mortgage Loan or
the 277 Park Avenue Pari Passu Note A-3 Mortgage Loan becomes an "REO Serviced
Loan" as defined under the related Non-Serviced Mortgage Loan Pooling Agreement,
the treatment of the foregoing amounts with respect to such Mortgage Loan shall
be subject to the terms of the related Intercreditor Agreement and the related
Non-Serviced Mortgage Loan Pooling Agreement.

      "Replacement Mortgage Loan" Any mortgage loan that is substituted by the
related Mortgage Loan Seller for a Defective Mortgage Loan as contemplated by
Section 2.03.

      "Reportable Event": As defined in Section 11.07.

      "Reporting Servicer": As defined in Section 11.10.

      "Request for Release": A request for release signed by a Servicing Officer
of, as applicable, the Master Servicer or Special Servicer in the form of
Exhibit D attached hereto.

      "Request for Review": A request for review signed by a Servicing Officer
of, as applicable, the Master Servicer or Special Servicer in the form of
Exhibit H attached hereto.

      "Required Appraisal Serviced Loan": As defined in Section 3.19(b).

      "Required Claims-Paying Ratings": With respect to any insurance carrier,
claims-paying ability ratings at least equal to the following minimum ratings
assigned to such carrier by at least one of the other following parties and, in
any event, by each Rating Agency that assigned a rating to the claims-paying
ability of such insurance carrier: Fitch ("A" or better), S&P ("A" or better)
and A.M. Best ("A: VIII" or better) or any insurance carrier backed or
guaranteed by an insurer with such required ratings; provided, however, that a
rating by A.M. Best shall be disregarded and shall not be applicable as one of
the two required ratings except with respect to a fidelity bond or errors and
omissions insurance maintained by a Sub-Servicer and then only to the extent in
force as of the Closing Date. Notwithstanding the preceding sentence, an
insurance carrier with lower or fewer claims-paying ability ratings shall be
deemed to have the "Required Claims-Paying Ratings" if the applicable Rating
Agency has confirmed in writing that such insurance carrier shall not result, in
and of itself, in a downgrading, withdrawal or qualification (if applicable) of
the then current rating assigned by such Rating Agency to any Class of
Certificates, unless, with respect to policies maintained by borrowers, a higher
claims-paying ability rating is required under any of the loan documents.

      "Reserve Account": The account or accounts created and maintained pursuant
to Section 3.03(d).

      "Reserve Funds": With respect to any Loan, any amounts delivered by the
related Mortgagor (and not previously disbursed) to be held in escrow by or on
behalf of the mortgagee representing reserves for principal and interest
payments, repairs, replacements, capital improvements (including, without
limitation, tenant improvements and leasing commissions), and/or environmental
testing and remediation with respect to the related Mortgaged Property.

      "Residual Certificate": Any Class R-I or Class R-II Certificate.

      "Resolution Extension Period": This term shall mean:

                  (i) for purposes of remediating a Material Breach with respect
            to any Mortgage Loan, the 90-day period following the end of the
            applicable Initial Resolution Period;

                  (ii) for purposes of remediating a Material Document Defect
            with respect to any Mortgage Loan that is not a Specially Serviced
            Loan at the commencement of, and does not become a Specially
            Serviced Loan during, the applicable Initial Resolution Period, the
            period commencing at the end of the applicable Initial Resolution
            Period and ending on, and including, the earlier of (i) the 90th day
            following the end of such Initial Resolution Period and (ii) the
            45th day following receipt by the related Mortgage Loan Seller of
            written notice from the Master Servicer or the Special Servicer of
            the occurrence of any Servicing Transfer Event with respect to such
            Mortgage Loan subsequent to the end of such Initial Resolution
            Period;

                  (iii) for purposes of remediating a Material Document Defect
            with respect to any Mortgage Loan that is a not a Specially Serviced
            Loan as of the commencement of the applicable Initial Resolution
            Period, but as to which a Servicing Transfer Event occurs during
            such Initial Resolution Period, the period commencing at the end of
            the applicable Initial Resolution Period and ending on, and
            including, the 90th day following receipt by the related Mortgage
            Loan Seller of written notice from the Master Servicer or the
            Special Servicer of the occurrence of such Servicing Transfer Event;
            and

                  (iv) for purposes of remediating a Material Document Defect
            with respect to any Mortgage Loan that is a Specially Serviced Loan
            as of the commencement of the applicable Initial Resolution Period,
            zero days; provided, however, that if the related Mortgage Loan
            Seller did not receive written notice from the Master Servicer or
            the Special Servicer of the relevant Servicing Transfer Event as of
            the commencement of the applicable Initial Resolution Period, then
            such Servicing Transfer Event shall be deemed to have occurred
            during such Initial Resolution Period and the immediately preceding
            clause (iii) of this definition will be deemed to apply.

      In addition, the related Mortgage Loan Seller shall have an additional 90
days to cure such Material Document Defect or Material Beach, provided that such
Mortgage Loan Seller has commenced and is diligently proceeding with the cure of
such Material Document Defect or Material Breach and such failure to cure is
solely the result of a delay in the return of documents from the local filing or
recording authorities.

      "Responsible Officer": When used with respect to the Trustee, any officer
assigned to the Global Securities and Trust Services Group, any vice president,
any assistant vice president, any assistant secretary, any assistant treasurer,
or any other officer of the Trustee customarily performing functions similar to
those performed by any of the above designated officers to whom a particular
matter is referred by the Trustee because of such officer's knowledge of and
familiarity with the particular subject. When used with respect to any
Certificate Registrar (other than the Trustee), any officer or assistant officer
thereof.

      "Restricted Period": The 40-day period prescribed by Regulation S
commencing on the later of (a) the date upon which the Certificates are first
offered to persons other than the managers and any other distributor (as defined
in Regulation S) of the Certificates, and (b) the Closing Date.

      "Rule 144A": Rule 144A under the Securities Act.

      "S&P": Standard & Poor's Ratings Services, a division of The McGraw Hill
Companies, Inc., or its successor in interest. If neither S&P nor any successor
remains in existence, "S&P" shall be deemed to refer to such other nationally
recognized statistical rating agency or other comparable Person designated by
the Depositor, notice of which designation shall be given to the Trustee, the
Master Servicer, the Special Servicer and the REMIC Administrator and specific
ratings of Standard & Poor's Ratings Services, a division of The McGraw Hill
Companies, Inc. herein referenced shall be deemed to refer to the equivalent
ratings of the party so designated.

      "Sarbanes-Oxley Act": The Sarbanes-Oxley Act of 2002 and the rules and
regulations of the Commission promulgated thereunder (including any
interpretations thereof by the Commission's staff).

      "Sarbanes-Oxley Certification": As defined in Section 11.05(a).

      "Securities Act": The Securities Act of 1933, as amended, and the rules
and regulations thereunder.

      "Security Agreement": With respect to any Loan, any security agreement,
chattel mortgage or similar document or instrument, whether contained in the
related Mortgage or executed separately, creating in favor of the holder of such
Mortgage a security interest in the personal property constituting security for
repayment of such Loan.

      "Senior Certificate": Any Class A-1, Class A-2, Class A-3, Class A-AB,
Class A-4, Class A-1A or Class XW Certificate.

      "Senior Principal Distribution Cross Over Date": The first Distribution
Date as of which the aggregate Class Principal Balance of the Class A-1
Certificates, Class A-2 Certificates, Class A-3 Certificates, Class A-AB
Certificates, Class A-4 Certificates and Class A-1A Certificates outstanding
immediately prior to such Distribution Date exceeds the sum of (a) the aggregate
Stated Principal Balance of the Mortgage Pool that will be outstanding
immediately following such Distribution Date, plus (b) the lesser of (i) the
Principal Distribution Amount for such Distribution Date and (ii) the portion of
the Available Distribution Amount for such Distribution Date that will remain
after the distributions of interest to be made on the Class A-1 Certificates,
Class A-2 Certificates, Class A-3 Certificates, Class A-AB Certificates, Class
A-4 Certificates and Class A-1A Certificates on such Distribution Date have been
so made.

      "Sequential Pay Certificate": Any Class A, 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 or Class P Certificate.

      "Serviced Loan": Any Mortgage Loan (other than the Desert Passage Pari
Passu Note A-3 Mortgage Loan and the 277 Park Avenue Pari Passu Note A-3
Mortgage Loan).

      "Servicer Reports": Each of the (i) CMSA Delinquent Loan Status Report,
(ii) CMSA REO Status Report, (iii) CMSA Historical Loan Modification and
Corrected Mortgage Loan Report, (iv) CMSA Historical Liquidation Report, (v)
CMSA Comparative Financial Status Report, (vi) CMSA Servicer Watch List Report,
(vii) CMSA NOI Adjustment Worksheet, (viii) CMSA Operating Statement Analysis
Report, (ix) CMSA Loan Level Reserve-LOC Report, (x) CMSA Loan Periodic Update
File, (xi) CMSA Property File, (xii) CMSA Financial File and (xiii) CMSA Advance
Recovery Report.

      "Service(s)(ing)": In accordance with Regulation AB, the act of servicing
and administering the Mortgage Loans or any other assets of the Trust by an
entity that meets the definition of "servicer" set forth in Item 1101 of
Regulation AB and is referenced in the disclosure requirements set forth in Item
1108 of Regulation AB. For the avoidance of doubt, any uncapitalized occurrence
of this term shall have the meaning commonly understood by participants in the
commercial mortgage-backed securities market.

      "Servicing Account": The account or accounts created and maintained
pursuant to Section 3.04(a).

      "Servicing Advances": Subject to Section 3.19(d) and with respect to any
Serviced Loan, all customary, reasonable and necessary "out-of-pocket" costs and
expenses incurred or to be incurred, as the context requires, by the Master
Servicer or, with respect to the Specially Serviced Loans, by the Master
Servicer at the direction of the Special Servicer or by the Special Servicer
(or, if applicable, the Trustee) in connection with the servicing of a Serviced
Loan after a default, delinquency or other unanticipated event, or in connection
with the administration of any REO Property, including, but not limited to, the
cost of (a) compliance with the obligations of the Master Servicer set forth in
Sections 3.03(c) and 3.09, (b) the preservation, insurance, restoration,
protection and management of a Mortgaged Property, (c) obtaining any Liquidation
Proceeds or Insurance Proceeds in respect of any Serviced Loan or REO Property,
(d) any enforcement or judicial proceedings with respect to a Mortgaged
Property, including, without limitation, foreclosures, and (e) the operation,
management, maintenance and liquidation of any REO Property; provided that
notwithstanding anything herein to the contrary, "Servicing Advances" shall not
include allocable overhead of the Master Servicer or the Special Servicer (or
the Trustee, if applicable), such as costs for office space, office equipment,
supplies and related expenses, employee salaries and related expenses and
similar internal costs and expenses, or costs incurred by either such party in
connection with its purchase of any Serviced Loan or REO Property pursuant to
any provision of this Agreement. All Emergency Advances made by the Master
Servicer at the direction of the Special Servicer hereunder shall be considered
"Servicing Advances" for the purposes hereof.

      "Servicing Criteria": The criteria set forth in paragraph (d) of Item 1122
of Regulation AB as such may be amended from time to time.

      "Servicing Fees": With respect to each Serviced Loan and REO Serviced
Loan, the Master Servicing Fee and the Special Servicing Fee.

      "Servicing File": Any documents (other than documents required to be part
of the related Mortgage File), including, without limitation, the related Phase
I Environmental Site Assessment and any related environmental insurance or
endorsement, in the possession of the Master Servicer or the Special Servicer
and relating to the origination and servicing of any Mortgage Loan or the
administration of any REO Property.

      "Servicing Function Participant": Any Additional Servicer, Sub-Servicer,
Subcontractor or any other Person, other than the Master Servicer, the Special
Servicer and the Trustee, that is performing activities that address the
Servicing Criteria, unless such Person's activities relate only to 5% or less of
the Mortgage Loans (by Stated Principal Balance).

      "Servicing Officer": Any officer or authorized signatory of the Master
Servicer or the Special Servicer or any Additional Servicer involved in, or
responsible for, the administration and servicing of Loans, whose name and
specimen signature appear on a list of such officers and authorized signatories
furnished by such party to the Trustee and the Depositor on the Closing Date, as
such list may be amended from time to time thereafter.

      "Servicing Released Bid": As defined in Section 7.01(d).

      "Servicing Retained Bid": As defined in Section 7.01(d).

      "Servicing Return Date": With respect to any Corrected Serviced Loan, the
date that servicing thereof is returned by the Special Servicer to the Master
Servicer pursuant to Section 3.21(a).

      "Servicing Standard": With respect to each of the Master Servicer and the
Special Servicer subject to applicable law and the express terms of the relevant
Loans, to service and administer the Serviced Loans and any REO Properties for
which such Person is responsible hereunder: (a) with the same care, skill,
prudence and diligence as is normal and usual in its general mortgage servicing
and REO property management activities on behalf of third parties or on behalf
of itself, whichever is higher, with respect to mortgage loans and REO
properties that are comparable to those for which it is responsible hereunder;
(b) with a view to the timely collection of all scheduled payments of principal
and interest under the Serviced Loans, the full collection of all Prepayment
Premiums that may become payable under the Serviced Loans and, in the case of
the Special Servicer, if a Serviced Loan comes into and continues in default and
if, in the good faith and reasonable judgment of the Special Servicer, no
satisfactory arrangements can be made for the collection of the delinquent
payments (including payments of Prepayment Premiums), the maximization of the
recovery on such Serviced Loan to the Certificateholders, on a net present value
basis; and (c) without regard to: (i) any known relationship that the Master
Servicer (or any Affiliate thereof) or the Special Servicer (or any Affiliate
thereof), as the case may be, may have with the related Mortgagor or with any
other party to this Agreement; (ii) the ownership of any Certificate or
Companion Loan or any interest in any mezzanine loan by the Master Servicer (or
any Affiliate thereof) or the Special Servicer (or any Affiliate thereof), as
the case may be; (iii) the obligation of the Master Servicer to make Advances,
(iv) the obligation of the Special Servicer to make, or direct the Master
Servicer to make, Servicing Advances; (v) the right of the Master Servicer (or
any Affiliate thereof) or the Special Servicer (or any Affiliate thereof), as
the case may be, to receive reimbursement of costs, or the sufficiency of any
compensation payable to it, hereunder or with respect to any particular
transaction; or (vi) any ownership, servicing and/or management by the Master
Servicer (or any Affiliate thereof) or the Special Servicer (or any Affiliate
thereof), as the case may be, of any other mortgage loans or real property.

      "Servicing Transfer Event" shall mean, with respect to any Serviced Loan,
any of the following events:

            (a) the related Mortgagor has failed to make when due any Monthly
      Payment (including a Balloon Payment) or any other payment required under
      the related loan documents, which failure continues, or the Master
      Servicer (or the Special Servicer with the consent of the Directing
      Certificateholder) determines, in its reasonable, good faith judgment,
      will continue, unremedied (i) except in the case of a delinquent Balloon
      Payment, for 60 days beyond the date on which the subject payment was due,
      and (ii) solely in the case of a delinquent Balloon Payment and if (x) the
      related Borrower is actively seeking a refinancing commitment, (y) the
      related Borrower continues to make payments in the amount of its Monthly
      Payment, and (z) subject to Section 3.21(f), the Directing
      Certificateholder consents, for 60 days beyond the related maturity date
      or, if the related Mortgagor has delivered to the Master Servicer, on or
      before the 60th day after the related maturity date, a refinancing
      commitment reasonably acceptable to the Master Servicer, for such longer
      period, not to exceed 120 days beyond the related maturity date, during
      which the refinancing would occur; or

            (b) the Master Servicer (or the Special Servicer with the consent of
      the Directing Certificateholder) has determined, in its reasonable, good
      faith judgment, that a default in the making of a Monthly Payment
      (including a Balloon Payment) or any other material payment required under
      the related loan documents is likely to occur within 30 days and either
      (i) the related Mortgagor has requested a material modification of the
      payment terms of the Serviced Loan or (ii) such default is likely to
      remain unremedied for at least the period contemplated by clause (a) of
      this definition; or

            (c) the Master Servicer (or the Special Servicer with the consent of
      the Directing Certificateholder) has determined, in its reasonable, good
      faith judgment, that a default, other than as described in clause (a) or
      (b) of this definition, has occurred or is imminent that may materially
      impair the value of the related Mortgaged Property as security for the
      Loan, which default has continued or is reasonably expected to continue
      unremedied for the applicable cure period under the terms of the Serviced
      Loan (or, if no cure period is specified, for 60 days); or

            (d) a decree or order of a court or agency or supervisory authority
      having jurisdiction in the premises in an involuntary action against the
      related Mortgagor under any present or future U.S. federal or state
      bankruptcy, insolvency or similar law or the appointment of a conservator,
      receiver or liquidator in any insolvency, readjustment of debt,
      marshalling of assets and liabilities or similar proceeding, or for the
      winding-up or liquidation of its affairs, shall have been entered against
      the related Mortgagor; or

            (e) the related Mortgagor shall have consented to the appointment of
      a conservator, receiver or liquidator in any insolvency, readjustment of
      debt, marshalling of assets and liabilities or similar proceeding of or
      relating to such Mortgagor or of or relating to all or substantially all
      of its property; or

            (f) the related Mortgagor shall have admitted in writing its
      inability to pay its debts generally as they become due, filed a petition
      to take advantage of any applicable insolvency or reorganization statute,
      made an assignment for the benefit of its creditors, or voluntarily
      suspended payment of its obligations; or

            (g) the Master Servicer shall have received notice of the
      commencement of foreclosure or similar proceedings with respect to the
      related Mortgaged Property.

      A Servicing Transfer Event with respect to any Serviced Loan shall cease
to exist:

            (w) in the case of the circumstances described in clause (a) above,
      if and when the related Mortgagor has made three consecutive full and
      timely Monthly Payments under the terms of such Loan (as such terms may be
      changed or modified in connection with a bankruptcy or similar proceeding
      involving the related Mortgagor or by reason of a modification, waiver or
      amendment granted or agreed to by the Master Servicer or the Special
      Servicer pursuant to Section 3.20);

            (x) in the case of the circumstances described in clauses (b), (d),
      (e) and (f) above, if and when such circumstances cease to exist in the
      reasonable, good faith judgment of the Special Servicer;

            (y) in the case of the circumstances described in clause (c) above,
      if and when such default is cured in the reasonable, good faith judgment
      of the Special Servicer; and

            (z) in the case of the circumstances described in clause (g) above,
      if and when such proceedings are terminated;

so long as at that time no circumstance identified in clauses (a) through (g)
above exists that would cause the Serviced Loan to continue to be characterized
as a Specially Serviced Loan and provided no additional default is foreseeable
in the reasonable good faith judgment of the Special Servicer.

      "Sherwood Apartments & Winding Wood Apartments Mezzanine Intercreditor
Agreement": That certain Intercreditor Agreement, dated as of March 31, 2006, by
and between Bank of America; N.A. as "Senior Lender" and the Sherwood Apartments
& Winding Wood Apartments Mezzanine Loan Holder as "Mezzanine Lender".

      "Sherwood Apartments & Winding Wood Apartments Mezzanine Loan": That
certain mezzanine loan related to the Sherwood Apartments & Winding Wood
Apartments Mortgage Loan, which is evidenced by that certain Loan Agreement,
dated as of March 31, 2006, by and between Sherwood Winding LLC and the Sherwood
Apartments & Winding Wood Apartments Mezzanine Loan Holder.

      "Sherwood Apartments & Winding Wood Apartments Mezzanine Loan Holder": LEM
Funding XXXIX, L.P. and LEM Parallel XXXIX, L.P., and their respective permitted
successors or assigns.

      "Sherwood Apartments & Winding Wood Apartments Mortgage Loan": That
certain Mortgage Loan identified as Loan No. 59666 on the Mortgage Loan
Schedule.

      "Similar Law": As defined in Section 5.02(c).

      "Single-Purpose-Entity": A Person, other than an individual, whose
organizational documents provide that it is formed solely for the purpose of
owning the related Mortgaged Property, Mortgaged Properties securing other Loans
and assets incidental to the ownership and operation of such Mortgaged Property
or Properties, and that has agreed, either in such organizational documents or
the loan documents relating to any related Loan, that it (a) does not engage in
any business unrelated to such property and the financing thereof; (b) does not
have any indebtedness other than as permitted by the related Mortgage, (c)
maintains its own books, records and accounts, in each case that are separate
and apart from the books, records and accounts of any other Person; (d) conducts
business in its own name; (e) does not guarantee or assume the debts or
obligations of any other person; (f) does not commingle its assets or funds with
those of any other Person; (g) transacts business with affiliates on an arm's
length basis; and (h) holds itself out as being a legal entity separate and
apart from any other Person. In addition, such entity's organizational documents
provide that any dissolution and winding up or insolvency filing for such entity
requires either the unanimous consent of all partners or members, as applicable,
or the consent of an independent Person (whether as a partner, member, or
director in such entity or in any Person that is the managing member or general
partner of such entity or otherwise), and either such organizational documents
or the terms of the mortgage loan documents provide that such organizational
documents may not be amended without the consent of the lender as regards such
single purpose entity requirements.

      "Single Certificate": For purposes of Section 4.02(a), a Certificate of
any Class of REMIC II Regular Certificates evidencing a $1,000 denomination or,
in the case of a Class XW Certificate, a 100% Percentage Interest.

      "Sole Pooled Certificateholder": Any Holder (or Holders provided they act
in unanimity) holding 100% of the Class XW and Non-Investment Grade Sequential
Pay Certificates or an assignment of the voting rights thereof; provided that
the Class Principal Balances, as applicable, of the Investment Grade Sequential
Pay Certificates have been reduced to zero.

      "Special Action": As defined in Section 3.21(e).

      "Special Servicer": LNR Partners, Inc., its successors in interest, or any
successor special servicer appointed as herein provided.

      "Special Servicing Fee": With respect to each Specially Serviced Loan and
each REO Serviced Loan, the fee designated as such and payable to the Special
Servicer pursuant to the first paragraph of Section 3.11(c).

      "Special Servicing Fee Rate": With respect to each Specially Serviced Loan
and each REO Serviced Loan, 0.25% (25 basis points) per annum.

      "Specially Serviced Loan": Any Serviced Loan as to which there then exists
a Servicing Transfer Event. Upon the occurrence of a Servicing Transfer Event
with respect to any Serviced Loan, such Serviced Loan shall remain a Specially
Serviced Loan until the earliest of (i) its removal from the Trust Fund (in the
case of a Mortgage Loan), (ii) an REO Acquisition with respect to the related
Mortgaged Property, and (iii) the cessation of all existing Servicing Transfer
Events with respect to such Serviced Loan.

      "Startup Day": With respect to each of REMIC I and REMIC II, the day
designated as such in Section 10.01(c).

      "Stated Maturity Date": With respect to any Loan, the Due Date on which
the last payment of principal is due and payable under the terms of the related
Mortgage Note as in effect on the Closing Date, without regard to any change in
or modification of such terms in connection with a bankruptcy or similar
proceeding involving the related Mortgagor or a modification, waiver or
amendment of such Loan granted or agreed to by the Master Servicer or Special
Servicer pursuant to Section 3.20 and, in the case of an ARD Loan, without
regard to its Anticipated Repayment Date.

      "Stated Principal Balance": With respect to any Mortgage Loan and any
successor REO Serviced Loan, a principal amount initially equal to the Cut-off
Date Balance of such Mortgage Loan, that is permanently reduced on each
Distribution Date (to not less than zero) by (i) all payments (or P&I Advances
in lieu thereof) of, and all other collections allocated as provided in Section
1.03 to, principal of or with respect to such Mortgage Loan (or successor REO
Serviced Loan) that are (or, if they had not been applied to cover any
Additional Trust Fund Expense, would have been) distributed to
Certificateholders on such Distribution Date, and (ii) the principal portion of
any Realized Loss incurred in respect of such Mortgage Loan (or successor REO
Serviced Loan) during the related Collection Period. Notwithstanding the
foregoing, if a Liquidation Event occurs in respect of any Loan or REO Property,
then the "Stated Principal Balance" of such Loan or of the related REO Serviced
Loan, as the case may be, shall be zero commencing as of the Distribution Date
in the Collection Period next following the Collection Period in which such
Liquidation Event occurred. In addition, to the extent that principal from
general collections is used to reimburse Nonrecoverable Advances or Work-out
Delayed Reimbursement Amounts, and such amount has reduced the Principal
Distribution Amount, such amount shall not reduce the Stated Principal Balance
prior to a Liquidation Event or other liquidation or disposition of the related
Mortgage Loan or REO Property (other than for purposes of computing the Weighted
Average Adjusted Net Mortgage Rate).

      The Stated Principal Balance of a Non-Serviced Mortgage Loan will be
calculated in accordance with the definition of "Stated Principal Balance" in
the related Non-Serviced Mortgage Loan Pooling Agreement.

      "Sub-Servicer": Any Person with which the Master Servicer or the Special
Servicer has entered into a Sub-Servicing Agreement.

      "Sub-Servicing Agreement": The written contract between the Master
Servicer or the Special Servicer, on the one hand, and any Sub-Servicer, on the
other hand as provided in Section 3.22, as the same may be modified or amended.

      "Subcontractor": Any vendor, subcontractor or other Person that is not
responsible for the overall servicing (as "servicing" is commonly understood by
participants in the mortgage-backed securities market) of Mortgage Loans but
performs one or more discrete functions identified in Item 1122(d) of Regulation
AB with respect to Mortgage Loans under the direction or authority of the Master
Servicer, the Special Servicer, the Trustee, any Additional Servicer or any
Sub-Servicer.

      "Subordinate Certificate": Any Class A-M, Class A-J, Class B, Class C,
Class D, Class E, Class F, Class G, Class H, Class J, Class K, Class L, Class M,
Class N, Class O or Class P Certificate or a Residual Certificate.

      "Subordinate Interest": With respect to any Whole Loan, any related
subordinate note or component.

      "Subordinate Interest Holder": With respect to any Whole Loan, the holder
of the related Subordinate Interest.

      "Substitution Shortfall Amount": An amount equal to the excess if any of
the difference between the Purchase Price of the Deleted Mortgage Loan
calculated as of the date of substitution and the Stated Principal Balance of
such Qualifying Substitute Mortgage Loan as of the date of substitution.

      "Successful Bidder": As defined in Section 7.01(d).

      "Tax Matters Person": With respect to each of REMIC I and REMIC II, the
Person designated as the "tax matters person" of such REMIC in the manner
provided under Treasury Regulations Section 1.860F-4(d) and Treasury Regulations
Section 301.6231(a)(7)-1. The "Tax Matters Person" for each of REMIC I and REMIC
II is the Holder of Certificates evidencing the largest Percentage Interest in
the related Class of Residual Certificates.

      "Tax Returns": The federal income tax returns on IRS Form 1066, U.S. Real
Estate Mortgage Investment Conduit (REMIC) Income Tax Return, including Schedule
Q thereto, Quarterly Notice to Residual Interest Holders of REMIC Taxable Income
or Net Loss Allocation, or any successor forms, to be filed on behalf of each of
REMIC I and REMIC II due to its classification as a REMIC under the REMIC
Provisions and the tax returns due with respect to each Grantor Trust, together
with any and all other information, reports or returns that may be required to
be furnished to the Certificateholders or filed with the IRS or any other
governmental taxing authority under any applicable provisions of federal or
Applicable State Law.

      "The Biltmore Mezzanine Intercreditor Agreement": That certain
Intercreditor Agreement, dated as of March 1, 2006, by and between Barclays
Capital Real Estate Inc. as "Senior Lender" and The Biltmore Mezzanine Loan
Holder as "Mezzanine Lender".

      "The Biltmore Mezzanine Loan": That certain mezzanine loan related to The
Biltmore Mortgage Loan, which is evidenced by that certain Loan Agreement, dated
as of February 24, 2006, by and between 817 West Peachtree Street, LLC and The
Biltmore Mezzanine Loan Holder.

      "The Biltmore Mezzanine Loan Holder": RAIT Partnership, L.P., and its
permitted successors or assigns.

      "The Biltmore Mortgage Loan": That certain Mortgage Loan identified as
Loan No. 20051406 on the Mortgage Loan Schedule.

      "Transfer": Any direct or indirect transfer, sale, pledge, hypothecation,
or other form of assignment of any Ownership Interest in a Certificate.

      "Transfer Affidavit and Agreement": As defined in Section 5.02(d)(i)(B).

      "Transferee": Any Person who is acquiring by Transfer any Ownership
Interest in a Certificate.

      "Transferor": Any Person who is disposing by Transfer any Ownership
Interest in a Certificate.

      "Trust": The common law trust created hereby.

      "Trust Fund": Collectively, all of the assets of REMIC I, REMIC II, the
Grantor Trusts and the Loss of Value Reserve Fund.

      "Trustee": LaSalle Bank National Association, in its capacity as Trustee
hereunder, its successor in interest, or any successor trustee appointed as
herein provided.

      "Trustee Fee": The fee payable to the Trustee on each Distribution Date
for its services as Trustee hereunder, in an aggregate amount equal to one
month's interest at the Trustee Fee Rate in respect of each Mortgage Loan and
related REO Serviced Loan, calculated on the Stated Principal Balance as of the
Due Date in the immediately preceding Collection Period and for the same number
of days (i.e., on the basis of, as applicable, a 360-day year consisting of
twelve 30-day months or the actual number of days elapsed during each calendar
month in a 360-day year) respecting which any related interest payment due on
such Serviced Loan or deemed to be due on such related REO Serviced Loan is
computed under the terms of the related Mortgage Note (as such terms may be
changed or modified at any time following the Closing Date) and applicable law,
and without giving effect to any Excess Interest that may accrue on any ARD Loan
after its Anticipated Repayment Date.

      "Trustee Fee Rate": A rate of 0.0008% per annum.

      "Trustee Reports": Each of the CMSA Bond Level File and the CMSA
Collateral Summary File.

      "Trustee's Website": The website maintained by the Trustee and initially
located at "www.etrustee.net", or at such other address as the Trustee may
designate from time to time.

      "UCC": The Uniform Commercial Code in effect in the applicable
jurisdiction.

      "UCC Financing Statement": A financing statement executed (if required by
the UCC) and filed pursuant to the Uniform Commercial Code, as in effect in the
relevant jurisdiction.

      "UCC-1", "UCC-2" and "UCC-3": UCC Financing Statements on Form UCC-1, Form
UCC-2 and Form UCC-3, respectively.

      "Uncertificated Accrued Interest": With respect to any REMIC I Regular
Interest, for any Distribution Date, one month's interest at the REMIC I
Remittance Rate applicable to such REMIC I Regular Interest for such
Distribution Date, accrued on the REMIC I Principal Balance of such REMIC I
Regular Interest outstanding immediately prior to such Distribution Date. The
Uncertificated Accrued Interest in respect of any REMIC I Regular Interest for
any Distribution Date shall be deemed to have accrued during the applicable
Interest Accrual Period.

      "Uncertificated Distributable Interest": With respect to any REMIC I
Regular Interest, for any Distribution Date, the Uncertificated Accrued Interest
in respect of such REMIC I Regular Interest for such Distribution Date, reduced
(to not less than zero) by the product of (i) the Net Aggregate Prepayment
Interest Shortfall, if any, for such Distribution Date, multiplied by (ii) a
fraction, the numerator of which is the Uncertificated Accrued Interest in
respect of such REMIC I Regular Interest for such Distribution Date, and the
denominator of which is the aggregate Uncertificated Accrued Interest in respect
of all the REMIC I Regular Interests for such Distribution Date.

      "Underwriter": Each of Banc of America Securities LLC, Bear, Stearns & Co.
Inc., Barclays Capital Inc., Goldman, Sachs & Co., Morgan Stanley & Co.
Incorporated and Greenwich Capital Markets, Inc.

      "Unliquidated Advance": Any Advance previously made by a party hereto that
has been previously reimbursed, as between the Person that made the Advance
hereunder, on the one hand, and the Trust Fund, on the other, as part of a
Workout-Delayed Reimbursement Amount pursuant to subsections (ii) and (vi) of
Section 3.05(a) but that has not been recovered from the Borrower or otherwise
from collections on or the proceeds of the Loan or related REO Property in
respect of which the Advance was made.

      "U.S. Person": A citizen or resident of the United States, a corporation
or partnership (except to the extent provided in the applicable Treasury
regulations) created or organized in, or under the laws of, the United States
any State thereof or the District of Columbia, including an entity treated as a
corporation or partnership for federal income tax purposes, or an estate whose
income is subject to United States federal income tax regardless of its source,
or a trust if a court within the United States is able to exercise primary
supervision over the administration of the trust and one or more such U.S.
Persons have the authority to control all substantial decisions of the trust
(or, to the extent provided in applicable Treasury regulations, certain trusts
in existence on August 20, 1996 that are eligible to elect to be treated as U.S.
Persons).

      "Voting Rights": The portion of the voting rights of all of the
Certificates that is allocated to any Certificate. At all times during the term
of this Agreement, 98% of the Voting Rights shall be allocated among the Holders
of the various outstanding Classes of Sequential Pay Certificates in proportion
to the respective Class Principal Balances of their Certificates, and 2% of the
Voting Rights shall be allocated to the Holders of the Class XW Certificates.
None of the Class V, Class R-I or Class R-II Certificates will be entitled to
any Voting Rights. Voting Rights allocated to a Class of Certificateholders
shall be allocated among such Certificateholders in proportion to the Percentage
Interests evidenced by their respective Certificates.

      "Weighted Average Adjusted Net Mortgage Rate": With respect to any
Distribution Date, the weighted average of the respective Adjusted Net Mortgage
Rates for all the Mortgage Loans and related REO Serviced Loans, weighted on the
basis of the respective Stated Principal Balances of such Mortgage Loans and REO
Serviced Loans outstanding immediately prior to such Distribution Date.

      "Whole Loans": The Desert Passage Whole Loan and the 277 Park Avenue Whole
Loan.

      "Wichita Retail Portfolio Mezzanine Intercreditor Agreement": That certain
Intercreditor Agreement, dated as of December 15, 2005, by and between Bear
Stearns Commercial Mortgage, Inc. as "Senior Lender" and the Wichita Retail
Portfolio Mezzanine Loan Holder as "Mezzanine Lender".

      "Wichita Retail Portfolio Mezzanine Loan": That certain mezzanine loan
related to the Wichita Retail Portfolio Mortgage Loan, which is evidenced by
that certain Loan Agreement, dated as of December 15, 2005, by and between
Mountaingate BCN Holdings, LLC, Union Street BCN Holdings, LLC and Spring Street
BCN Holdings, LLC and the Wichita Retail Portfolio Mezzanine Loan Holder.

      "Wichita Retail Portfolio Mezzanine Loan Holder": Bear Stearns Commercial
Mortgage, Inc., and its permitted successors or assigns.

      "Wichita Retail Portfolio Mortgage Loan": That certain Mortgage Loan
identified as Loan No. 45772 on the Mortgage Loan Schedule.

      "Withheld Amounts": As defined in Section 4.05.

      "Within Grace Period Loan": With respect to any Master Servicer Remittance
Date, any Serviced Loan having any Monthly Payment remaining unpaid past its Due
Date, as of the close of business on the Determination Date in the same calendar
month, but that is not delinquent past the applicable grace period for such
Monthly Payment as of the close of business on such Determination Date.

      "Workout-Delayed Reimbursement Amount": With respect to any Serviced Loan,
the amount of any Advance made with respect to such Serviced Loan on or before
the date such Serviced Loan becomes (or, but for the making of three monthly
payments under its modified terms, would then constitute) a Corrected Serviced
Loan, together with (to the extent accrued and unpaid) interest on such
Advances, to the extent that (i) such Advance is not reimbursed to the Person
who made such Advance on or before the date, if any, on which such Serviced Loan
becomes a Corrected Serviced Loan and (ii) the amount of such Advance becomes an
obligation of the Mortgagor to pay such amount under the terms of the modified
loan documents. That any amount constitutes all or a portion of any
Workout-Delayed Reimbursement Amount shall not in any manner limit the right of
any Person hereunder to determine that such amount instead constitutes a
Nonrecoverable Advance reimbursable in the same manner as any other
Nonrecoverable Advance.

      "Workout Fee": With respect to each Corrected Serviced Loan, the fee
designated as such and payable to the Special Servicer pursuant to the second
paragraph of Section 3.11(c).

      "Workout Fee Rate": With respect to each Corrected Serviced Loan as to
which a Workout Fee is payable, 1.0% (100 basis points).

      Section 1.02 Rules of Construction; Other Definitional Provisions.

      Unless the context otherwise clearly requires:

      (a)   the definitions of terms herein shall apply equally to the singular
            and plural forms of the terms defined;

      (b)   whenever the context may require, any pronoun shall include the
            corresponding masculine, feminine and neuter forms;

      (c)   the words "include", "includes" and "including" shall be deemed to
            be followed by the phrase "without limitation";

      (d)   the word "will" shall be construed to have the same meaning and
            effect as the word "shall";

      (e)   any definition of or reference to any agreement, instrument or other
            document herein shall be construed as referring to such agreement,
            instrument or other document as from time to time amended,
            supplemented or otherwise modified (subject to any restrictions on
            such amendments, supplements or modifications set forth herein);

      (f)   any reference to any Person, or to any Person in a specified
            capacity, shall be construed to include such Person's successors and
            assigns or such Person's successors in such capacity, as the case
            may be;

      (g)   unless otherwise specified herein, "pro rata" when used in reference
            to more than one Class of the Certificates shall mean "pro rata"
            based on the outstanding Class Principal Balances of such Classes of
            Certificates;

      (h)   all references in this instrument to designated "Articles",
            "Sections", "Subsections", "clauses" and other subdivisions are to
            the designated Articles, Sections, Subsections, clauses and other
            subdivisions of this Agreement as originally executed; and

      (i)   the words "herein", "hereof", "hereunder" and other words of similar
            import refer to this Agreement as a whole and not to any particular
            Article, Section, Subsection or other subdivision.

      Section 1.03 Certain Calculations in Respect of the Mortgage Pool.

      (a) All amounts collected by or on behalf of the Trust in respect of any
Cross-Collateralized Group in the form of payments from Mortgagors, Insurance
Proceeds, Condemnation Proceeds and Liquidation Proceeds shall be applied among
the Mortgage Loans constituting such Cross-Collateralized Group in accordance
with the express provisions of the related loan documents and, in the absence of
such express provisions, in accordance with the Servicing Standard. All amounts
collected by or on behalf of the Trust in respect of or allocable to any
particular Mortgage Loan in the form of payments from Mortgagors, Insurance
Proceeds, Condemnation Proceeds or Liquidation Proceeds shall be applied to
amounts due and owing under the related Mortgage Note and Mortgage (including
for principal and accrued and unpaid interest) in accordance with the express
provisions of the related loan documents and, in the absence of such express
provisions or if and to the extent that such terms authorize the lender to use
its discretion, shall be applied: first, as a recovery of Nonrecoverable
Advances (including interest on such Nonrecoverable Advances) and
Workout-Delayed Reimbursement Amounts that were reimbursed from general
collections on the Mortgage Loans and resulted in principal distributed to the
Certificateholders being reduced as a result of the first proviso in the
definition of "Principal Distribution Amount", and, if applicable, unpaid
related Liquidation Expenses and any outstanding related Additional Trust Fund
Expenses; second, as a recovery of accrued and unpaid interest (excluding, in
the case of an ARD Loan after its Anticipated Repayment Date, Excess Interest)
on such Mortgage Loan to, but not including, the date of receipt by or on behalf
of the Trust (or, in the case of a full Monthly Payment from any Mortgagor,
through the related Due Date); third, as a recovery of principal of such
Mortgage Loan then due and owing, including by reason of acceleration of the
Mortgage Loan following a default thereunder (or, if a Liquidation Event has
occurred in respect of such Mortgage Loan, as a recovery of principal to the
extent of its entire remaining unpaid principal balance); fourth, unless a
Liquidation Event has occurred in respect of such Mortgage Loan, as a recovery
of amounts to be currently applied to the payment of, or escrowed for the future
payment of, real estate taxes, assessments, insurance premiums, ground rents (if
applicable) and similar items; fifth, unless a Liquidation Event has occurred in
respect of such Mortgage Loan, as a recovery of Reserve Funds to the extent then
required to be held in escrow; sixth, as a recovery of any Prepayment Premium
then due and owing under such Mortgage Loan; seventh, as a recovery of any
Default Charges then due and owing under such Mortgage Loan; eighth, as a
recovery of any assumption fees and modification fees then due and owing under
such Mortgage Loan; ninth, as a recovery of any other amounts then due and owing
under such Mortgage Loan other than remaining unpaid principal; tenth, as a
recovery of any remaining principal of such Mortgage Loan to the extent of its
entire remaining unpaid principal balance; and, eleventh, in the case of an ARD
Loan after its Anticipated Repayment Date, as a recovery of accrued and unpaid
Excess Interest on such ARD Loan, to but not including the date of receipt.

      (b) Collections by or on behalf of the Trust in respect of each REO
Property, exclusive of amounts to be applied to the payment of the costs of
operating, managing, maintaining and disposing of such REO Property, shall be
treated: first, as a recovery of Nonrecoverable Advances (including interest on
such Nonrecoverable Advance) and Workout-Delayed Reimbursed Amounts with respect
to such REO Serviced Loan, that were reimbursed from collections on the Mortgage
Loans and resulted in principal distributed to the Certificateholders being
reduced as a result of the first proviso of the definition of "Principal
Distribution Amount"; second, as a recovery of accrued and unpaid interest
(excluding, in the case of an REO Serviced Loan that relates to an ARD Loan
after its Anticipated Repayment Date, Excess Interest) on such REO Serviced Loan
at the related Mortgage Rate in effect from time to time to but not including
the Due Date in the Collection Period of receipt; third, as a recovery of
principal of such REO Serviced Loan to the extent of its entire unpaid principal
balance; fourth, in accordance with the Servicing Standard of the Master
Servicer or the Special Servicer, as applicable, as a recovery of any other
amounts due and owing in respect of such REO Serviced Loan; fifth, as a recovery
of any other amounts deemed to be due and owing in respect of the related REO
Serviced Loan (other than, in the case of an REO Serviced Loan that relates to
an ARD Loan after its Anticipated Repayment Date, accrued and unpaid Excess
Interest); and sixth, in the case of an REO Serviced Loan that relates to an ARD
Loan after its Anticipated Repayment Date, as a recovery of any accrued and
unpaid Excess Interest on such REO Serviced Loan to but not including the date
of receipt by or on behalf of the Trust, in that order. If the Desert Passage
Pari Passu Note A-3 Mortgage Loan or 277 Park Avenue Pari Passu Note A-3
Mortgage Loan becomes an "REO Serviced Loan" as defined under the Desert Passage
Pooling Agreement or the 277 Park Avenue Pooling Agreement, as applicable, the
treatment of the foregoing amounts with respect to such Mortgage Loan shall be
subject to the terms of the related Intercreditor Agreement and the related
Non-Serviced Mortgage Loan Pooling Agreement.

      (c) For the purposes of calculating distributions pursuant to this
Agreement, Excess Interest on an ARD Loan shall be deemed not to constitute
principal or any portion thereof and shall not be added to the unpaid principal
balance or Stated Principal Balance of such ARD Loan. To the extent any Excess
Interest is not paid on a current basis, it shall be deemed to be deferred
interest. Any reference to the Certificate Principal Balance of any Class of
Certificates on or as of a Distribution Date shall refer to the Certificate
Balance of such Class of Certificates on such Distribution Date after giving
effect to any distributions made on such Distribution Date pursuant to Section
4.01(a).

      (d) Insofar as amounts received in respect of any Mortgage Loan or related
REO Property and allocable to shared fees and shared charges owing in respect of
such Mortgage Loan or the related REO Serviced Loan, as the case may be, that
constitute Additional Master Servicing Compensation payable to the Master
Servicer and/or Additional Special Servicing Compensation payable to the Special
Servicer, are insufficient to cover the full amount of such fees and charges,
such amounts shall be allocated between such of those fees and charges as are
payable to the Master Servicer, on the one hand, and such of those fees and
charges as are payable to the Special Servicer, on the other, pro rata in
accordance with their respective entitlements.

      (e) Notwithstanding anything contained herein to the contrary, with
respect to each Mortgage Loan subject to an involuntary prepayment of principal
during a Collection Period, all interest collected during such Collection Period
in connection with such involuntary prepayment of principal that the related
lender would be entitled to retain under the related loan documents shall be
treated as excess interest and shall be used to offset any shortfalls of
interest for the related Distribution Date resulting from involuntary
prepayments of principal during such Collection Period prior to such shortfalls
of interest being allocated to any Class of Certificates. Any such interest not
required to offset shortfalls of interest for the related Distribution Date
pursuant to the immediately preceding sentence shall constitute Additional
Master Servicing Compensation.

      (f) The foregoing applications of amounts received in respect of any
Mortgage Loan or REO Property shall be determined by the Master Servicer and
reflected in the appropriate monthly report from the Master Servicer and in the
appropriate monthly Trustee Report as provided in Section 4.02.

      If an expense under this Agreement relates in the reasonable judgment of
the Master Servicer, the Special Servicer or the Trustee, as applicable,
primarily to the administration of the Trust Fund, any REMIC formed hereunder or
to any determination respecting the amount, payment or avoidance of any tax
under the REMIC Provisions or the actual payment of any REMIC tax or expense, or
this Agreement states that any expense is solely "an expense of the Trust Fund"
or words of similar import, then such expense shall not be allocated to,
deducted or reimbursed from, or otherwise charged against any Companion Loan
Holder and such Companion Loan Holder shall not suffer any adverse consequences
as a result of the payment of such expense.

      Section 1.04 Cross-Collateralized Mortgage Loans.

      Notwithstanding anything herein to the contrary, it is hereby acknowledged
that the groups of Mortgage Loans identified on the Mortgage Loan Schedule as
being cross-collateralized with each other are, in the case of each such
particular group of Mortgage Loans, by their terms, cross-defaulted and
cross-collateralized with each other. For purposes of reference only in this
Agreement, and without in any way limiting the servicing rights and powers of
the Master Servicer and/or the Special Servicer, with respect to any
Cross-Collateralized Mortgage Loan (or successor REO Serviced Loan), the
Mortgaged Property (or REO Property) that relates or corresponds thereto shall
be the property identified in the Mortgage Loan Schedule as corresponding
thereto. The provisions of this Agreement shall be interpreted in a manner
consistent with this Section 1.04; provided that, if there exists with respect
to any Cross-Collateralized Group only one original of any document referred to
in the definition of "Mortgage File" covering all the Mortgage Loans in such
Cross-Collateralized Group, then the inclusion of the original of such document
in the Mortgage File for any of the Mortgage Loans constituting such
Cross-Collateralized Group shall be deemed an inclusion of such original in the
Mortgage File for each such Mortgage Loan.

      Section 1.05 Incorporation of Preliminary Statement.

      The parties hereto acknowledge that the Preliminary Statement at the
beginning of this Agreement constitutes a part of this Agreement.

<PAGE>

                                   ARTICLE II

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

      Section 2.01 Conveyance of Mortgage Loans.

      (a) It is the intention of the parties hereto that a common law trust be
established pursuant to this Agreement and further such trust be designated as
"Banc of America Commercial Mortgage Trust 2006-2". LaSalle Bank National
Association is hereby appointed, and does hereby agree to act, as Trustee
hereunder and, in such capacity, to hold the Trust Fund in trust for the
exclusive use and benefit of all present and future Certificateholders. It is
not intended that this Agreement create a partnership or a joint-stock
association.

      (b) The Depositor, concurrently with the execution and delivery hereof,
does hereby transfer, assign, sell, set over and otherwise convey to the
Trustee, in trust, without recourse, for the benefit of the Certificateholders
(and for the benefit of the other parties to this Agreement as their respective
interests may appear) all the right, title and interest of the Depositor in, to
and under (i) the Mortgage Loans and all documents included in the related
Mortgage Files and Servicing Files, (ii) the Mortgage Loan Purchase and Sale
Agreements and (iii) all other assets included or to be included in the Trust
Fund. Such assignment includes (i) the Mortgage Loans that from time to time are
subject to this Agreement, all interest accrued on the Mortgage Loans on and
after the Cut-off Date and all principal payments received on the Mortgage Loans
after the Cut-off Date (other than principal and interest payments due and
payable on the Mortgage Loans on or before the Cut-off Date, which shall belong
and be promptly remitted to the applicable Mortgage Loan Seller), together with
all documents delivered or caused to be delivered hereunder with respect to such
Mortgage Loans by the related Mortgage Loan Seller; (ii) any REO Property
acquired in respect of a Mortgage Loan; (iii) such funds or assets that from
time to time are deposited into the Certificate Account, the REMIC I
Distribution Account, the REMIC II Distribution Account, the Interest Reserve
Account, the Excess Interest Distribution Account, the Excess Liquidation
Proceeds Account and the REO Account (if established), and (iv) in the case of
the Desert Passage Pari Passu Note A-3 Mortgage Loan and the 277 Park Avenue
Pari Passu Note A-3 Mortgage Loan, all the right, title and interest of the
Depositor in, to and under the related Intercreditor Agreements. The conveyance
of the Desert Passage Pari Passu Note A-3 Mortgage Loan and the 277 Park Avenue
Pari Passu Note A-3 Mortgage Loan and the right to service the Desert Passage
Pari Passu Note A-3 Mortgage Loan and the 277 Park Avenue Pari Passu Note A-3
Mortgage Loan are subject to the terms and conditions of the related
Non-Serviced Mortgage Loan Pooling Agreement and the related Intercreditor
Agreement. This conveyance is subject to the rights of the Sub-Servicers
pursuant to the Sub-Servicing Agreements, which rights are subject in any event
to this Agreement.

      Under United States generally accepted accounting principles, the
Depositor shall report: (i) its acquisition of the Mortgage Loans from the
Mortgage Loan Sellers, pursuant to the Mortgage Loan Purchase and Sale
Agreements, as a purchase of such Mortgage Loans from the Mortgage Loan Sellers;
and (ii) its transfer of the Mortgage Loans to the Trustee, pursuant to this
Section 2.01(b), as a sale of such Mortgage Loans to the Trustee. In connection
with the foregoing, the Depositor shall cause all of its records to reflect such
acquisitions as purchases and such transfer as a sale (in each case, as opposed
to a secured loan).

      After the Depositor's transfer of the Mortgage Loans to the Trustee
pursuant to this Section 2.01(b), the Depositor shall not take any action
inconsistent with the Trust's ownership of the Mortgage Loans.

      In connection with the Depositor's assignment pursuant to this Section
2.01(b) above, the Depositor hereby represents and warrants that it has
contractually obligated the Mortgage Loan Sellers, at the Mortgage Loan Sellers'
expense, pursuant to the Mortgage Loan Purchase and Sale Agreements, to deliver
to and deposit with, or cause to be delivered to and deposited with, the Trustee
or a Custodian appointed thereby, on or before the Closing Date, the Mortgage
File and any Additional Collateral (other than Reserve Funds) for each Mortgage
Loan acquired by the Depositor from the Mortgage Loan Sellers; provided,
however, with respect to any Non-Serviced Mortgage Loan, only the original
Mortgage Note (and any related allonge) evidencing such Non-Serviced Mortgage
Loan and copies of any related Intercreditor Agreement shall be delivered to the
Trustee or a Custodian appointed thereby. In addition, with respect to each
Mortgage Loan under which any Additional Collateral is in the form of a Letter
of Credit as of the Closing Date, the Depositor hereby represents and warrants
that it has contractually obligated the Mortgage Loan Sellers to cause to be
prepared, executed and delivered to the issuer of each such Letter of Credit
such notices, assignments and acknowledgments as are required under such Letter
of Credit to assign, without recourse, to the Trustee the related Mortgage Loan
Seller's rights as the beneficiary thereof and drawing party thereunder;
provided that the originals of such Letter of Credit shall be delivered to the
Master Servicer. The Depositor shall deliver to the Trustee on or before the
Closing Date a fully executed counterpart of each Mortgage Loan Purchase and
Sale Agreement. If a Mortgage Loan Seller fails to deliver on or before the
Closing Date, with respect to any related Mortgage Loan so assigned, a copy of
the Mortgage, a copy of any related Ground Lease, the originals and copies of
any related Letters of Credit, the original or a copy of the policy of lender's
title insurance or, if such policy has not yet been issued, a "marked-up" pro
forma title policy or commitment for title insurance marked as binding and
countersigned by the issuer or its authorized agent either on its face or by an
acknowledged closing instruction or escrow letter, or, with respect to
hospitality properties, a copy of the franchise agreement, an original copy of
the comfort letter and any transfer documents with respect to such comfort
letter, the delivery requirements of this Section 2.01(b) shall be deemed
satisfied with respect to such missing document if such Mortgage Loan Seller
delivers such document to the Trustee (or, in the case of originals of Letters
of Credit, to the Master Servicer) within 15 days following the Closing Date.
None of the Trustee, any Custodian, the Master Servicer or the Special Servicer
shall be liable for any failure by any Mortgage Loan Seller or the Depositor to
comply with the document delivery requirements of the Mortgage Loan Purchase and
Sale Agreements and this Section 2.01(b).

      The conveyance of the Mortgage Loans and the related rights and property
accomplished hereby is absolute and is intended by the parties hereto to
constitute an absolute transfer of such Mortgage Loans and such other related
rights and property by the Depositor to the Trustee for the benefit of the
Certificateholders. Furthermore, it is not intended that such conveyance be a
pledge of security for a loan. If such conveyance is determined to be a pledge
of security for a loan, however, the Depositor and the Trustee intend that the
rights and obligations of the parties to such loan shall be established pursuant
to the terms of this Agreement. The Depositor and the Trustee also intend and
agree that, in such event, (i) this Agreement shall constitute a security
agreement under applicable law, (ii) the Depositor shall be deemed to have
granted to the Trustee (in such capacity) a first priority security interest in
all of the Depositor's right, title and interest in and to the assets
constituting the Trust Fund, including the Mortgage Loans subject hereto from
time to time, all principal and interest received on or with respect to such
Mortgage Loans after the Cut-off Date (other than scheduled payments of interest
and principal due and payable on such Mortgage Loans on or prior to the related
Due Date in June 2006 or, in the case of a Replacement Mortgage Loan, on or
prior to the related date of substitution), all amounts held from time to time
in the Certificate Account, the REMIC I Distribution Account, the REMIC II
Distribution Account, the Interest Reserve Account, the Excess Interest
Distribution Account, the Excess Liquidation Proceeds Account, or the REO
Account, and all reinvestment earnings on such amounts, and all of the
Depositor's right, title and interest under the Mortgage Loan Purchase and Sale
Agreements, (iii) the possession by the Trustee or its agent of the Mortgage
Notes with respect to the Mortgage Loans subject hereto from time to time and
such other items of property that constitute instruments, money, negotiable
documents or chattel paper shall be deemed to be "possession by the secured
party" or possession by a purchaser or person designated by such secured party
for the purpose of perfecting such security interest under applicable law, and
(iv) notifications to, and acknowledgments, receipts or confirmations from,
Persons holding such property shall be deemed to be notifications to, or
acknowledgments, receipts or confirmations from, financial intermediaries,
bailees or agents (as applicable) of the Trustee for the purpose of perfecting
such security interest under applicable law.

      (c) As soon as reasonably possible, and in any event within 90 days after
the later of (i) the Closing Date (or, in the case of a Replacement Mortgage
Loan substituted as contemplated by Section 2.03, after the related date of
substitution) and (ii) the date on which all recording information necessary to
complete the subject document is received by the Trustee, the Trustee shall
complete (to the extent necessary), and shall submit for recording or filing, as
the case may be, in the appropriate office for real property records or UCC
Financing Statements, as applicable, each assignment of Mortgage and assignment
of Assignment of Leases (except with respect to any Mortgage or Assignment of
Leases that has been recorded in the name of MERS or its designee) in favor of
the Trustee referred to in clauses (iv) and (v) of the definition of "Mortgage
File" that has been received by the Trustee or a Custodian on its behalf and
each original UCC-2 and UCC-3 in favor of the Trustee referred to in clause
(viii) of the definition of "Mortgage File" that has been received by the
Trustee or a Custodian on its behalf. Upon request of the Master Servicer (if
reasonably necessary for the ongoing administration and/or servicing of the
related Mortgage Loan by the Master Servicer) and at the expense of the related
Mortgage Loan Seller, the Trustee shall forward to the Master Servicer a copy of
any such assignment that has been received by the Trustee. Each such assignment
shall reflect that it should be returned by the public recording office to the
Trustee following recording, and each such UCC-2 and UCC-3 shall reflect that
the file copy thereof should be returned to the Trustee following filing;
provided that in those instances where the public recording office retains the
original assignment of Mortgage or assignment of Assignment of Leases the
Trustee shall obtain therefrom a certified copy of the recorded original at the
expense of the related Mortgage Loan Seller. The Trustee may assume for purposes
of recordation of each UCC-2 and UCC-3 that the Mortgage File containing the
related UCC-1 includes one state level UCC Financing Statement filing in the
state of incorporation of the related Borrower for each Mortgaged Property (or
with respect to any Mortgage Loan that has two or more related Borrowers, the
state of incorporation of each such Borrower). Each Mortgage Loan Seller will
deliver to the Trustee the UCC Financing Statements, completed pursuant to
Revised Article 9 of the UCC, on the new national forms, in recordable form, to
be recorded pursuant to this Section 2.01(c). The Trustee will submit such UCC
Financing Statements for filing in the state of incorporation as so indicated on
the documents provided. If any such document or instrument is lost or returned
unrecorded or unfiled, as the case may be, because of a defect therein, the
Trustee shall direct the related Mortgage Loan Seller to prepare or cause to be
prepared promptly, pursuant to the related Mortgage Loan Purchase and Sale
Agreement, a substitute therefor or cure such defect, as the case may be, and
thereafter the Trustee shall, upon receipt thereof, cause the same to be duly
recorded or filed, as appropriate with any re-recording, re-filing or rejection
expenses at the expense of such Mortgage Loan Seller. If such Mortgage Loan
Seller has been so notified and has not prepared a substitute document or cured
such defect, as the case may be, within 60 days, the Trustee shall promptly
notify the Master Servicer, the Special Servicer, the Rating Agencies, the
related Companion Loan Holder(s) and the Directing Certificateholder. Such
Mortgage Loan Seller shall be responsible for paying the reasonable fees and
out-of-pocket expenses of the Trustee in connection with the above-referenced
recording and filing of documents insofar as it relates to the Mortgage Loans
transferred by such Mortgage Loan Seller and acquired by the Depositor from such
Mortgage Loan Seller, all as more particularly provided for in the related
Mortgage Loan Purchase and Sale Agreement.

      (d) In connection with the Depositor's assignment pursuant to Section
2.01(b) above, the Depositor hereby represents and warrants that it has
contractually obligated each Mortgage Loan Seller, at such Mortgage Loan
Seller's expense, pursuant to the related Mortgage Loan Purchase and Sale
Agreement, to deliver to and deposit with, or cause to be delivered to and
deposited with, the Master Servicer or its designee, on or before the Closing
Date, the following items: (i) asset summaries delivered to the Rating Agencies,
originals or copies of all financial statements, appraisals,
environmental/engineering reports, leases, rent rolls and tenant estoppels in
the possession or under the control of such Mortgage Loan Seller that relate to
the Mortgage Loans transferred by such Mortgage Loan Seller to the Depositor
and, to the extent they are not required to be a part of a Mortgage File in
accordance with the definition thereof, originals or copies of all documents,
certificates, letters of credit, environmental insurance policies and related
endorsements, and opinions in the possession or under the control of such
Mortgage Loan Seller that were delivered by or on behalf of the related
Mortgagors in connection with the origination of such Mortgage Loans and that
are reasonably required for the ongoing administration and servicing of such
Mortgage Loans (except to the extent such items represent draft documents,
internal notes, attorney-client privileged communications or credit analyses);
and (ii) all unapplied Reserve Funds and Escrow Payments in the possession or
under the control of such Mortgage Loan Seller that relate to, and that are
required for the ongoing administration and servicing of, the Mortgage Loans
transferred by such Mortgage Loan Seller to the Depositor. The Master Servicer
shall hold all such documents, records and funds on behalf of the Trustee in
trust for the benefit of the Certificateholders.

      (e) In the event a Mortgage Loan is repurchased by the related Mortgage
Loan Seller, the Trustee shall re-assign any rights that such Mortgage Loan
Seller had with respect to representations and warranties made by a third party
originator to such Mortgage Loan Seller under the related Mortgage Loan Purchase
and Sale Agreement to such Mortgage Loan Seller in respect of any such Mortgage
Loan.

      Section 2.02 Acceptance of REMIC I by Trustee.

      (a) The Trustee, by the execution and delivery of this Agreement,
acknowledges receipt by it or a Custodian on its behalf of, subject to the
provisions of Section 2.01 and to the further review provided for in this
Section 2.02, and further subject to the Schedule of Exceptions attached hereto
as Schedule III, with respect to each Mortgage Loan, an original Mortgage Note
endorsed to the Trustee and declares that it or a Custodian on its behalf holds
and will hold the documents delivered or caused to be delivered by the Mortgage
Loan Sellers in respect of the Mortgage Loans, and that it holds and will hold
all other assets included in REMIC I in trust for the exclusive use and benefit
of all present and future Certificateholders (other than the Class V
Certificateholders) and the Trustee as holder of the REMIC I Regular Interests.

      (b) On or about the ninetieth day following the Closing Date, the Trustee
or a Custodian on its behalf shall review the documents delivered to it or such
Custodian with respect to each Mortgage Loan, and the Trustee shall, subject to
Sections 1.04, 2.02(c) and 2.02(d), certify electronically or in writing
(substantially in the form of Exhibit F) to each of the other parties hereto,
the Mortgage Loan Sellers, the related Companion Loan Holder(s) and the
Directing Certificateholder, that, as to each Mortgage Loan then subject to this
Agreement (except as specifically identified in any exception report annexed to
such certification): (i) the original Mortgage Note specified in clause (i) of
the definition of "Mortgage File" and all allonges thereto, if any (or a copy of
such Mortgage Note, together with a lost note affidavit certifying that the
original of such Mortgage Note has been lost), the original or copy of documents
specified in clauses (ii) through (vii) and (xii) of the definition of "Mortgage
File" (without regard to the parenthetical), have been received by it or a
Custodian on its behalf; (ii) if such report is due more than 180 days after the
Closing Date, the recordation/filing contemplated by Section 2.01(c) has been
completed (based solely on receipt by the Trustee of the particular
recorded/filed documents); (iii) all documents received by it or any Custodian
with respect to such Mortgage Loan have been reviewed by it or by such Custodian
on its behalf and (A) appear regular on their face (handwritten additions,
changes or corrections shall not constitute irregularities if initialed by the
Mortgagor), (B) appear to have been executed and (C) purport to relate to such
Mortgage Loan; and (iv) the Trustee on behalf of the Trust is shown as the owner
of each Mortgage recorded in the name of MERS or its designee. The Trustee may
assume that, for purposes of reviewing the items in clause (viii) of the
definition of Mortgage File and completing the certification attached hereto as
Exhibit F, the related UCC-1 includes one state level UCC Financing Statement
filing in the state of incorporation of the related Borrower for each Mortgaged
Property (or with respect to any Mortgage Loan that has two or more related
Borrowers, the state of incorporation of each such Borrower). If any exceptions
are noted or if the recordation/filing contemplated by Section 2.01(c) has not
been completed (based solely on receipt by the Trustee of the particular
documents showing evidence of the recordation/filing), the Trustee shall every
90 days after the ninetieth day following the Closing Date until the earliest of
(i) the date on which such exceptions are eliminated and such recordation/filing
has been completed, (ii) the date on which all the affected Mortgage Loans are
removed from the Trust Fund, and (iii) the second anniversary of the Closing
Date), distribute an updated exception report to the recipients of the above
mentioned certification that was submitted to such recipients substantially in
the form of Exhibit F. At any time subsequent to the second anniversary of the
Closing Date, the Trustee shall, upon request and at the requesting party's
expense, prepare and deliver to the requesting party (including any
Certificateholder or Certificate Owner) an updated version of the exception
report provided for in the prior sentence.

      (c) If a Mortgage Loan Seller substitutes a Replacement Mortgage Loan for
any Defective Mortgage Loan as contemplated by Section 2.03, the Trustee or a
Custodian on its behalf shall review the documents delivered to it or such
Custodian with respect to such Replacement Mortgage Loan, and the Trustee shall
deliver a certification comparable to that described in the prior paragraph, in
respect of such Replacement Mortgage Loan, on or about the thirtieth day
following the related date of substitution (and, if any exceptions are noted,
every 90 days thereafter until the earliest of (i) the date on which such
exceptions are eliminated and all related recording/filing has been completed,
(ii) the date on which such Replacement Mortgage Loan is removed from the Trust
Fund and (iii) the second anniversary of the date on which such Replacement
Mortgage Loan was added to the Trust Fund). At any time subsequent to the second
anniversary of the date on which such Replacement Mortgage Loan is added to the
Trust Fund, the Trustee shall, upon request, prepare and deliver to the
requesting party (including any Certificateholder or Certificate Owner) an
updated version of the exception report provided for in the prior sentence.

      (d) None of the Trustee, the Master Servicer, the Special Servicer or any
Custodian is under any duty or obligation (i) to determine whether any of the
documents specified in clauses (iii), (v), (vi) and (viii) through (xii) of the
definition of "Mortgage File" exist or are required to be delivered by the
Mortgage Loan Sellers in respect of any Mortgage Loan, or (ii) to inspect,
review or examine any of the documents, instruments, certificates or other
papers relating to the Mortgage Loans delivered to it to determine that the same
are valid, legal, effective, genuine, binding, enforceable, sufficient or
appropriate for the represented purpose or that they are other than what they
purport to be on their face. Notwithstanding the foregoing, with respect to
Letters of Credit referenced in clause (xii) of the definition of "Mortgage
File" the Trustee shall perform the review set forth in Section
2.02(b)(iii)(A)-(C). Furthermore, except as expressly provided in Section
2.02(b), none of the Trustee, the Master Servicer, the Special Servicer or any
Custodian shall have any responsibility for determining whether the text of any
assignment or endorsement is in proper or recordable form, whether the requisite
recording of any document is in accordance with the requirements of any
applicable jurisdiction, or whether a blanket assignment is permitted in any
applicable jurisdiction.

(e) In performing the reviews contemplated by subsections (b) and (c) above, the
Trustee may conclusively rely on the Mortgage Loan Sellers as to the purported
genuineness of any such document and any signature thereon. It is understood
that the scope of the Trustee's review of the Mortgage Files is limited solely
to confirming that the documents specified in clauses (i) through (v) and clause
(vii) of the definition of "Mortgage File", have been received and such
additional information as will be necessary for delivering the certifications
required by subsections (a) and (b) above. If a Mortgage Loan Seller is notified
of or discovers any error in a Mortgage Loan Checklist, then such Mortgage Loan
Seller shall amend such Mortgage Loan Checklist within 180 days and distribute
such Mortgage Loan Checklist to each of the other parties hereto; provided,
however, that an error in such Mortgage Loan Checklist by itself shall not be
deemed to be a Material Breach or Material Document Defect. Such new, corrected
Mortgage Loan Checklist shall be deemed to amend and replace the existing
Mortgage Loan Checklist; provided, however, that the correction or amendment of
such Mortgage Loan Checklist by itself shall not be deemed to be a cure of a
Material Breach or Material Document Defect.

      Section 2.03 Mortgage Loan Seller's Repurchase or Substitution of Mortgage
Loans for Material Document Defects and Material Breaches.

      (a) If any party hereto discovers, or receives written notice from a
non-party, that a Document Defect or Breach exists with respect to any Mortgage
Loan, then such party shall give prompt written notice thereof to the other
parties hereto, including (unless it is the party that discovered the Document
Defect or Breach) the Trustee. Upon the Trustee's discovery or receipt of notice
that a Document Defect or Breach exists with respect to any Mortgage Loan, the
Trustee shall notify the Directing Certificateholder and the related Mortgage
Loan Seller.

      (b) If necessary, the Trustee shall request the related Mortgage Loan
Seller to comply with Section 4(c) of the related Mortgage Loan Purchase and
Sale Agreement with respect to any Document Defect or other deficiency in a
Mortgage File relating to a Mortgage Loan. If the Trustee becomes aware of any
failure on the part of any Mortgage Loan Seller to do so, the Trustee shall
promptly notify the Master Servicer and the Special Servicer.

      (c) Promptly upon its becoming aware of any Material Document Defect or
Material Breach with respect to any Mortgage Loan, the Master Servicer shall
(and the Special Servicer may) notify the related Mortgage Loan Seller in
writing of such Material Document Defect or Material Breach, as the case may be,
and direct such Mortgage Loan Seller that it must, not later than 90 days from
the receipt by such parties of such notice (such 90-day period, the "Initial
Resolution Period"), correct or cure such Material Document Defect or Material
Breach, as the case may be, in all material respects, or repurchase the affected
Mortgage Loan (as, if and to the extent required by the related Mortgage Loan
Purchase and Sale Agreement), at the applicable Purchase Price; provided,
however, that if such Mortgage Loan Seller certifies in writing to the Trustee
(i) that, as evidenced by an accompanying Opinion of Counsel, any such Material
Breach or Material Document Defect, as the case may be, does not and will not
cause the Defective Mortgage Loan, to fail to be a "qualified mortgage" within
the meaning of Section 860G(a)(3) of the Code, (ii) that such Material Breach or
Material Document Defect, as the case may be, is capable of being corrected or
cured but not within the applicable Initial Resolution Period, (iii) that such
Mortgage Loan Seller has commenced and is diligently proceeding with the cure of
such Material Breach or Material Document Defect, as the case may be, within the
applicable Initial Resolution Period, and (iv) that such Mortgage Loan Seller
anticipates that such Material Breach or Material Document Defect, as the case
may be, will be corrected or cured within an additional period not to exceed the
Resolution Extension Period (a copy of which certification shall be delivered by
the Trustee to the Master Servicer, the Special Servicer and the Directing
Certificateholder, then such Mortgage Loan Seller shall have an additional
period equal to the applicable Resolution Extension Period to complete such
correction or cure or, failing such, to repurchase the affected Mortgage Loan;
provided, further, that, in lieu of effecting any such repurchase (but, in any
event, no later than such repurchase would have to have been completed), such
Mortgage Loan Seller shall be permitted, during the three-month period following
the Startup Day for REMIC I (or during the two-year period following such
Startup Day if the affected Mortgage Loan is a "defective obligation" within the
meaning of Section 860G(a)(4)(B)(ii) of the Code and Treasury Regulations
Section 1.860G-2(f), to replace the affected Mortgage Loan, other than a
Non-Serviced Mortgage Loan, with one or more Qualifying Substitute Mortgage
Loans and to pay a cash amount equal to the applicable Substitution Shortfall
Amount, subject to any other applicable terms and conditions of the related
Mortgage Loan Purchase and Sale Agreement and this Agreement. If any
substitution for a Deleted Mortgage Loan is not completed in all respects by the
end of the three-month (or, if applicable, the two-year) period contemplated by
the preceding sentence, such Mortgage Loan Seller shall be barred from doing so
(and, accordingly, will be limited to the cure/repurchase remedies contemplated
hereby), and no party hereto shall be liable thereto for any loss, liability or
expense resulting from the expiration of such period. If any Mortgage Loan is to
be repurchased or replaced as contemplated by this Section 2.03, the Master
Servicer shall designate the Certificate Account as the account to which funds
in the amount of the applicable Purchase Price or Substitution Shortfall Amount
(as the case may be) are to be wired, and the Master Servicer shall promptly
notify the Trustee when such deposit is made. Any such repurchase or replacement
of a Mortgage Loan shall be on a whole loan, servicing released basis.

      (d) If one or more of the Mortgage Loans constituting a
Cross-Collateralized Group are the subject of a Breach or Document Defect, then,
for purposes of (i) determining whether such Breach or Document Defect is a
Material Breach or Material Document Defect, as the case may be, and (ii) the
application of remedies, such Cross-Collateralized Group shall be treated as a
single Mortgage Loan.

      If (x) any Mortgage Loan is required to be repurchased or substituted as
contemplated in this Section 2.03, (y) such Mortgage Loan is a
Crossed-Collateralized Mortgage Loan or is secured by a portfolio of Mortgaged
Properties and the related loan documents provide that a Mortgaged Property may
be uncrossed from the other Mortgaged Properties in that portfolio, and (z) the
applicable Material Breach or Material Document Defect does not constitute a
Material Breach or Material Document Defect, as the case may be, as to any
related Crossed-Collateralized Mortgage Loan or applies to only specific
Mortgaged Properties included in such portfolio (without regard to this
paragraph), then the applicable Material Breach or Material Document Defect (as
the case may be) will be deemed to constitute a Material Breach or Material
Document Defect (as the case may be) as to any related Crossed-Collateralized
Mortgage Loan and to each other Mortgaged Property included in such portfolio
and the related Mortgage Loan Seller shall repurchase or substitute for any
related Crossed-Collateralized Mortgage Loan in the manner described above
unless, in the case of a Material Breach or Material Document Defect, both of
the following conditions would be satisfied if such Mortgage Loan Seller were to
repurchase or substitute for only the affected Crossed-Collateralized Mortgage
Loans or affected Mortgaged Properties as to which a Material Breach or Material
Document Defect had occurred without regard to this paragraph as calculated by
the Master Servicer (in consultation with the Special Servicer and the Directing
Certificateholder): (i) the debt service coverage ratio for any related
Cross-Collateralized Mortgage Loans or Mortgaged Properties for the four
calendar quarters immediately preceding the repurchase or substitution is not
less than the greater of (a) the debt service coverage ratio immediately prior
to the repurchase, and (b) the debt service coverage ratio on the Closing Date,
subject to a floor of 1.25x, and (ii) the loan-to-value ratio for any related
Crossed-Collateralized Mortgage Loans or Mortgaged Properties is not greater
than the lesser of (a) the loan-to-value ratio immediately prior to the
repurchase and (b) the loan-to-value ratio on the Closing Date, subject to a cap
of 75%. In the event that both of the conditions set forth in the preceding
sentence would be satisfied, the related Mortgage Loan Seller may elect either
to repurchase or substitute for only the affected Crossed-Collateralized
Mortgage Loan or Mortgaged Properties as to which the Material Breach or
Material Document Defect exists or to repurchase or substitute for the aggregate
Crossed-Collateralized Mortgage Loans or Mortgaged Properties.

      To the extent that the related Mortgage Loan Seller repurchases or
substitutes for an affected Cross-Collateralized Mortgage Loan or Mortgaged
Property in the manner prescribed above while the Trustee continues to hold any
related Cross-Collateralized Mortgage Loans, such Mortgage Loan Seller and the
Depositor shall either uncross the repurchased Cross-Collateralized Mortgage
Loan or affected Mortgaged Property (provided the Depositor has received an
Opinion of Counsel that uncrossing the repurchased Cross-Collateralized Mortgage
Loan will not adversely affect the status of either of REMIC I or REMIC II as a
REMIC under the Code) or shall forbear from enforcing any remedies against the
other's Primary Collateral, but each is permitted to exercise remedies against
the Primary Collateral securing its respective affected Cross-Collateralized
Mortgage Loans or Mortgaged Properties, including, with respect to the Trustee,
the Primary Collateral securing Mortgage Loans still held by the Trustee, so
long as such exercise does not materially impair the ability of the other party
to exercise its remedies against its Primary Collateral. If the exercise of
remedies by one party would materially impair the ability of the other party to
exercise its remedies with respect to the Primary Collateral securing the
Cross-Collateralized Mortgage Loans or Mortgaged Properties held by such party,
then both parties shall forbear from exercising such remedies until the loan
documents can be modified to remove the threat of such impairment as a result of
the exercise of remedies.

      (e) Whenever one or more mortgage loans are substituted for a Defective
Mortgage Loan by the related Mortgage Loan Seller as contemplated by this
Section 2.03, the Master Servicer shall direct such party effecting the
substitution to deliver the related Mortgage File to the Trustee, to certify
that such substitute mortgage loan satisfies or such substitute mortgage loans
satisfy, as the case may be, all of the requirements of the definition of
"Qualifying Substitute Mortgage Loan" and to send such certification to the
Trustee. No mortgage loan may be substituted for a Defective Mortgage Loan as
contemplated by this Section 2.03 if the Mortgage Loan to be replaced was itself
a Replacement Mortgage Loan, in which case, absent a cure of the relevant
Material Breach or Material Document Defect, the affected Mortgage Loan will be
required to be repurchased as contemplated hereby. Monthly Payments due with
respect to each Replacement Mortgage Loan (if any) after the related date of
substitution, and Monthly Payments due with respect to each corresponding
Deleted Mortgage Loan (if any) after the related Due Date in June 2006 and on or
prior to the related date of substitution, shall be part of the Trust Fund.
Monthly Payments due with respect to each Replacement Mortgage Loan (if any) on
or prior to the related date of substitution, and Monthly Payments due with
respect to each corresponding Deleted Mortgage Loan (if any) after the related
date of substitution, shall not be part of the Trust Fund and are to be remitted
by the Master Servicer to the party effecting the related substitution promptly
following receipt.

      (f) If any Mortgage Loan is to be repurchased or replaced by the related
Mortgage Loan Seller as contemplated by this Section 2.03, the Master Servicer
shall direct such Mortgage Loan Seller to amend the related Mortgage Loan
Schedule to reflect the removal of any Deleted Mortgage Loan and, if applicable,
the substitution of the related Replacement Mortgage Loan(s); and, upon its
receipt of such amended Mortgage Loan Schedule, the Master Servicer shall
deliver or cause the delivery of such amended Mortgage Loan Schedule to the
other parties hereto. Upon any substitution of one or more Replacement Mortgage
Loans for a Deleted Mortgage Loan, such Replacement Mortgage Loan(s) shall
become part of the Trust Fund and be subject to the terms of this Agreement in
all respects.

      (g) Upon receipt of a Request for Release (in the form of Exhibit D
attached hereto) and an Officer's Certificate from the Master Servicer to the
effect that the full amount of the Purchase Price or Substitution Shortfall
Amount (as the case may be) for any Mortgage Loan repurchased or replaced by the
related Mortgage Loan Seller as contemplated by this Section 2.03 has been
deposited into the Certificate Account, and further, if applicable, upon receipt
of the Mortgage File for each Replacement Mortgage Loan (if any) to be
substituted for a Deleted Mortgage Loan, together with the certification
referred to in Section 2.03(f) from the party effecting the substitution, if
any, the Trustee shall (i) release or cause the release of the Mortgage File and
any Additional Collateral held by or on behalf of the Trustee for the Deleted
Mortgage Loan to the party effecting the repurchase/substitution or its designee
and (ii) execute and deliver such instruments of release, transfer and/or
assignment, in each case without recourse, as shall be provided to it and are
reasonably necessary to vest in the party effecting the repurchase/substitution
or its designee the ownership of the Deleted Mortgage Loan, and the Master
Servicer shall notify the applicable Mortgagors of the transfers of the Deleted
Mortgage Loan(s) and any Replacement Mortgage Loan(s). If the Mortgage related
to the Deleted Mortgage Loan has been recorded in the name of MERS or its
designee, the Master Servicer shall take all necessary action to reflect the
release of such Mortgage on the records of MERS. In connection with any such
repurchase or substitution by the related Mortgage Loan Seller, each of the
Master Servicer and the Special Servicer shall deliver to the party effecting
the repurchase/substitution or its designee any portion of the related Servicing
File, together with any Escrow Payments, Reserve Funds and Additional
Collateral, held by or on behalf of the Master Servicer or the Special Servicer,
as the case may be, with respect to the Deleted Mortgage Loan, in each case at
the expense of the party effecting the repurchase/substitution. The reasonable
"out-of-pocket" costs and expenses incurred by the Master Servicer, the Special
Servicer and/or the Trustee pursuant to this Section 2.03(g), shall be payable
to each of them, first, by the related Mortgage Loan Seller to the extent such
Mortgage Loan Seller was required to repurchase the affected Mortgage Loan, and
then as Servicing Advances in respect of the affected Mortgage Loan.

      (h) The applicable Mortgage Loan Purchase and Sale Agreement provides the
sole remedy available to the Certificateholders, or the Trustee on their behalf,
respecting any Breach or Document Defect with respect to Mortgage Loans sold by
the related Mortgage Loan Seller. If the related Mortgage Loan Seller defaults
on its obligations to repurchase or replace any Mortgage Loan as contemplated by
this Section 2.03, the Master Servicer shall (and the Special Servicer may)
promptly notify the Trustee in writing, and the Trustee shall notify the
Certificateholders. Thereafter, the Master Servicer (with respect to Performing
Serviced Loans where the related Mortgage Loan Seller is not an Affiliate of the
Master Servicer) and the Special Servicer (with respect to Specially Serviced
Loans and with respect to Performing Serviced Loans where the related Mortgage
Loan Seller is an Affiliate of the Master Servicer) shall take such actions on
behalf of the Trust with respect to the enforcement of such
repurchase/substitution obligations (and if the Master Servicer is notified or
otherwise becomes aware of a default on the part of such Mortgage Loan Seller in
respect of its obligations under Section 4 of the related Mortgage Loan Purchase
and Sale Agreement, the Master Servicer shall also take such actions on behalf
of the Trust with respect to the enforcement of such obligations of such
Mortgage Loan Seller), including the institution and prosecution of appropriate
legal proceedings, as the Master Servicer or the Special Servicer shall
determine are in the best interests of the Certificateholders (taken as a
collective whole). Any and all reasonable "out-of-pocket" costs and expenses
incurred by the Master Servicer, the Special Servicer and/or the Trustee
pursuant to this Section 2.03(h), including reasonable attorney fees and
expenses to the extent not collected from such Mortgage Loan Seller because such
Mortgage Loan Seller either failed, or was not required, to cure the subject
actual or alleged Breach or Document Defect or repurchase/replace the affected
related Mortgage Loan, shall constitute Servicing Advances in respect of the
affected Mortgage Loan.

      Without limiting the Trustee's duties under this Section 2.03, the Trustee
irrevocably designates the Special Servicer, with respect to the Specially
Serviced Loans, and the Master Servicer, with respect to Performing Serviced
Loans, for the benefit of Certificateholders to use reasonable efforts to
enforce, after notice to the Trustee, any of the obligations of a Mortgage Loan
Seller under the related Mortgage Loan Purchase and Sale Agreement. Such
enforcement including, without limitation, the legal prosecution of claims,
shall be carried out in such form, to such extent and at such time as the
Special Servicer or Master Servicer, as the case may be, shall reasonably
determine is in the best interests of the Certificateholders (taken as a
collective whole). All out-of-pocket expenses (including attorney's fees and
litigation costs and expenses) incurred by the Special Servicer or Master
Servicer, as the case may be, in carrying out its obligations hereunder shall be
reimbursable to the Special Servicer or Master Servicer, as the case may be, and
constitute Additional Trust Fund Expenses. The Trustee shall upon request
promptly furnish or cause to be furnished to the Special Servicer or Master
Servicer, as the case may be, limited powers of attorney and other documents
necessary, delivered to it by the Special Servicer or Master Servicer, as the
case may be, for execution, or appropriate to enable the Special Servicer or
Master Servicer, as the case may be, to carry out such enforcement duties
subject to Section 3.01(c).

      (i) In the event that either pursuant to a settlement agreed to by a
Mortgage Loan Seller and the Special Servicer on behalf of the Trust (it being
understood that the provisions of this Section 2.03(i) shall not constitute a
waiver of the Trust's rights under Section 2.03(h) unless the Special Servicer,
on behalf of the Trust, has agreed to accept a loss of value payment in lieu of
the Trust's rights under Section 2.03(h) or a judicial order, such Mortgage Loan
Seller makes a cash payment, either as a cure of a Material Breach or a Material
Defect, or in lieu of a repurchase of a Mortgage Loan on which a Material Breach
or a Material Defect exists or is alleged to exist (each such payment, a "Loss
of Value Payment") with respect to such Mortgage Loan, the amount of each such
Loss of Value Payment shall be determined either (i) by mutual agreement of the
Special Servicer on behalf of the Trust with respect to such Material Breach or
Material Defect, as the case may be, and such Mortgage Loan Seller or (ii) by
judicial decision. Provided that such Loss of Value Payment is made, the Loss of
Value Payment shall serve as the sole remedy available to the Certificateholders
and the Trustee on their behalf regarding any such Material Breach or Material
Defect in lieu of any obligation of the related Mortgage Loan Seller to
otherwise cure such Material Breach or Material Defect or repurchase the
affected Mortgage Loan based on such Material Breach or Material Defect under
any circumstances. In the event there is a Loss of Value Payment made by a
Mortgage Loan Seller in accordance with this Section 2.03(i), the amount of such
Loss of Value Payment shall be deposited into the Loss of Value Reserve Fund to
be applied in accordance with Section 3.05(g).

      Section 2.04 Representations and Warranties of the Depositor.

      (a) The Depositor hereby represents and warrants to each of the other
parties to this Agreement and for the benefit of the Certificateholders and the
Companion Loan Holder(s), as of the Closing Date, that:

            (i) The Depositor is a corporation duly organized, validly existing
      and in good standing under the laws of the State of Delaware.

            (ii) The execution and delivery of this Agreement by the Depositor,
      and the performance and compliance with the terms of this Agreement by the
      Depositor, do not violate the Depositor's certificate of incorporation or
      bylaws or constitute a default (or an event that, with notice or lapse of
      time, or both, would constitute a default) under, or result in the breach
      of, any material agreement or other instrument to which it is a party or
      that is applicable to it or any of its assets.

            (iii) The Depositor has the full power and authority to enter into
      and consummate all transactions contemplated by this Agreement, has duly
      authorized the execution, delivery and performance of this Agreement, and
      has duly executed and delivered this Agreement.

            (iv) This Agreement, assuming due authorization, execution and
      delivery by each of the other parties hereto, constitutes a valid, legal
      and binding obligation of the Depositor, enforceable against the Depositor
      in accordance with the terms hereof, except as such enforcement may be
      limited by (A) applicable bankruptcy, insolvency, receivership,
      reorganization, liquidation, fraudulent transfer, moratorium and other
      laws affecting the enforcement of creditors' rights generally, and (B)
      general principles of equity, regardless of whether such enforcement is
      considered in a proceeding in equity or at law.

            (v) The Depositor is not in violation of, and its execution and
      delivery of this Agreement and its performance and compliance with the
      terms of this Agreement do not constitute a violation of, any law, any
      order or decree of any court or arbiter, or any order, regulation or
      demand of any federal, state or local governmental or regulatory
      authority, which violation, in the Depositor's good faith and reasonable
      judgment, is likely to affect materially and adversely either the ability
      of the Depositor to perform its obligations under this Agreement or the
      financial condition of the Depositor.

            (vi) The transfer of the Mortgage Loans to the Trustee as
      contemplated herein requires no regulatory approval, other than any such
      approvals as have been obtained, and is not subject to any bulk transfer
      or similar law in effect in any applicable jurisdiction.

            (vii) No litigation is pending or, to the best of the Depositor's
      knowledge, threatened against the Depositor that would prohibit the
      Depositor from entering into this Agreement or, in the Depositor's good
      faith and reasonable judgment, is likely to materially and adversely
      affect either the ability of the Depositor to perform its obligations
      under this Agreement or the financial condition of the Depositor.

            (viii) Immediately prior to the transfer of the Mortgage Loans by
      the Depositor to the Trustee hereunder, the Depositor had good and
      marketable title to, and was the sole owner of, each such Mortgage Loan,
      free and clear of any and all liens, encumbrances and other interests on,
      in or to such Mortgage Loan.

            (ix) No consent, approval, authorization or order of, or filing or
      registration with, any state or federal court or governmental agency or
      body is required for the consummation by the Depositor of the transactions
      contemplated herein, except for those consents, approvals, authorizations
      and orders that previously have been obtained and those filings and
      registrations that previously have been completed, and except for those
      filings and recordings of Loan documents and assignments thereof that are
      contemplated by this Agreement to be completed after the Closing Date.

            (x) The Depositor has been solvent at all relevant times prior to,
      and will not be rendered insolvent by, its transfer of the Mortgage Loans
      to the Trustee, pursuant to Section 2.01(b).

            (xi) After giving effect to its transfer of the Mortgage Loans to
      the Trustee, pursuant to Section 2.01(b), the value of the Depositor's
      assets, either taken at their present fair saleable value or at fair
      valuation, will exceed the amount of the Depositor's debts and
      obligations, including contingent and unliquidated debts and obligations
      of the Depositor, and the Depositor will not be left with unreasonably
      small assets or capital with which to engage in and conduct its business.

            (xii) The Depositor does not intend to, and does not believe that it
      will, incur debts or obligations beyond its ability to pay such debts and
      obligations as they mature.

            (xiii) No proceedings looking toward merger, liquidation,
      dissolution or bankruptcy of the Depositor are pending or contemplated.

            (xiv) Immediately prior to the transfer of the Mortgage Loans to the
      Trustee for the benefit of the Certificateholders pursuant to this
      Agreement, the Depositor had such right, title and interest in and to each
      Mortgage Loan as was transferred to it by the related Mortgage Loan Seller
      pursuant to the related Mortgage Loan Purchase and Sale Agreement. The
      Depositor has not transferred any of its right, title and interest in and
      to the Mortgage Loans to any Person other than the Trustee.

            (xv) Except for any actions that are the express responsibility of
      another party hereunder or under any Mortgage Loan Purchase and Sale
      Agreement, and further except for actions that the Depositor is expressly
      permitted to complete subsequent to the Closing Date, the Depositor has
      taken all actions required under applicable law to effectuate the transfer
      of all of its right, title and interest in and to the Mortgage Loans by
      the Depositor to the Trustee.

            (b) Upon discovery by any of the parties hereto of a breach of any
of the foregoing representations and warranties that materially and adversely
affects the interests of the Certificateholders or any party hereto, the party
discovering such breach shall give prompt written notice to each of the other
parties hereto.

      Section 2.05 Representations and Warranties of the Master Servicer.

      (a) The Master Servicer hereby represents and warrants to the other
parties hereto and for the benefit of the Certificateholders and the Companion
Loan Holder(s), as of the Closing Date, that:

            (i) The Master Servicer is duly organized, validly existing and in
      good standing as a national banking association under the laws of the
      United States of America, and the Master Servicer is in compliance with
      the laws of each jurisdiction in which any Mortgaged Property is located
      to the extent necessary to perform its obligations under this Agreement.

            (ii) The execution and delivery of this Agreement by the Master
      Servicer, and the performance and compliance with the terms of this
      Agreement by the Master Servicer, do not violate the Master Servicer's
      organizational documents or constitute a default (or an event that, with
      notice or lapse of time, or both, would constitute a default) under, or
      result in the breach of, any material agreement or other instrument to
      which it is a party or that is applicable to it or any of its assets,
      which default or breach, in the Master Servicer's good faith and
      reasonable judgment, is likely to materially and adversely affect the
      ability of the Master Servicer to perform its obligations under this
      Agreement.

            (iii) The Master Servicer has the full power and authority to enter
      into and consummate all transactions contemplated by this Agreement, has
      duly authorized the execution, delivery and performance of this Agreement,
      and has duly executed and delivered this Agreement.

            (iv) This Agreement, assuming due authorization, execution and
      delivery by each of the other parties hereto, constitutes a valid, legal
      and binding obligation of the Master Servicer, enforceable against the
      Master Servicer in accordance with the terms hereof, subject to (A)
      applicable bankruptcy, insolvency, reorganization, moratorium and other
      laws affecting the enforcement of creditors' rights generally, and (B)
      general principles of equity, regardless of whether such enforcement is
      considered in a proceeding in equity or at law.

            (v) The Master Servicer is not in violation of, and its execution
      and delivery of this Agreement and its performance and compliance with the
      terms of this Agreement do not constitute a violation of, any law, any
      order or decree of any court or arbiter, or any order, regulation or
      demand of any federal, state or local governmental or regulatory
      authority, which violation, in the Master Servicer's good faith and
      reasonable judgment, is likely to affect materially and adversely either
      the ability of the Master Servicer to perform its obligations under this
      Agreement or the financial condition of the Master Servicer.

            (vi) No litigation is pending or, to the best of the Master
      Servicer's knowledge, threatened against the Master Servicer that would
      prohibit the Master Servicer from entering into this Agreement or, in the
      Master Servicer's good faith and reasonable judgment, is likely to
      materially and adversely affect either the ability of the Master Servicer
      to perform its obligations under this Agreement or the financial condition
      of the Master Servicer.

            (vii) Each officer or employee of the Master Servicer that has
      responsibilities concerning the servicing and administration of the
      Serviced Loans is covered by errors and omissions insurance in the amounts
      and with the coverage required by Section 3.07(c). None of the Master
      Servicer or any of its officers or employees that is involved in the
      servicing or administration of the Serviced Loans has been refused such
      coverage or insurance.

            (viii) No consent, approval, authorization or order of, or filing or
      registration with, any state or federal court or governmental agency or
      body is required for the consummation by the Master Servicer of the
      transactions contemplated herein, except for those consents, approvals,
      authorizations and orders that previously have been obtained and those
      filings and registrations that previously have been completed.

            (ix) The Master Servicer has examined each of the Sub-Servicing
      Agreements entered into by the Master Servicer that will be in effect as
      of the Closing Date with respect to the Serviced Loans, and each such
      Sub-Servicing Agreement complies with the requirements of Section 3.22(a)
      in all material respects.

      (b) The representations and warranties of the Master Servicer set forth in
Section 2.05(a) shall survive the execution and delivery of this Agreement and
inure to the benefit of the Persons for whose benefit they were made for so long
as the Trust remains in existence. Upon discovery by any of the parties hereto
of a breach of any of such representations and warranties that materially and
adversely affects the interests of the Certificateholders or any party hereto,
the party discovering such breach shall give prompt written notice to each of
the other parties hereto.

      (c) Each successor Master Servicer (if any) shall be deemed to have made,
as of the date of its succession, each of the representations set forth in
Section 2.05(a), subject to such appropriate modifications to the representation
and warranty set forth in Section 2.05(a)(i) to accurately reflect such
successor's jurisdiction of organization and whether it is a corporation,
partnership, bank, association or other type of organization.

      Section 2.06 Representations and Warranties of the Special Servicer.

      (a) The Special Servicer hereby represents and warrants to the other
parties hereto and for the benefit of the Certificateholders and the Companion
Loan Holder(s), as of the Closing Date, that:

            (i) The Special Servicer is duly organized, validly existing and in
      good standing as a corporation under the laws of the State of Florida, and
      the Special Servicer is in compliance with the laws of each jurisdiction
      in which any Mortgaged Property is located to the extent necessary to
      perform its obligations under this Agreement.

            (ii) The execution and delivery of this Agreement by the Special
      Servicer, and the performance and compliance with the terms of this
      Agreement by the Special Servicer, do not violate the Special Servicer's
      organizational documents or constitute a default (or an event that, with
      notice or lapse of time, or both, would constitute a default) under, or
      result in the breach of, any material agreement or other instrument to
      which it is a party or that is applicable to it or any of its assets,
      which default, in the Special Servicer's reasonable judgment, is likely to
      materially and adversely effect either the ability of the Special Servicer
      to perform its obligations under this Agreement or the financial condition
      of the Special Servicer.

            (iii) The Special Servicer has the full corporate power and
      authority to enter into and consummate all transactions contemplated by
      this Agreement, has duly authorized the execution, delivery and
      performance of this Agreement, and has duly executed and delivered this
      Agreement.

            (iv) This Agreement, assuming due authorization, execution and
      delivery by each of the other parties hereto, constitutes a valid, legal
      and binding obligation of the Special Servicer, enforceable against the
      Special Servicer in accordance with the terms hereof, except as such
      enforcement may be limited by (A) applicable bankruptcy, receivership,
      insolvency, reorganization, liquidation, fraudulent transfer, moratorium
      and other laws affecting the enforcement of creditors' rights generally,
      and (B) general principles of equity, regardless of whether such
      enforcement is considered in a proceeding in equity or at law.

            (v) The Special Servicer is not in violation of, and its execution
      and delivery of this Agreement and its performance and compliance with the
      terms of this Agreement do not constitute a violation of, any law, any
      order or decree of any court or arbiter, or any order, regulation or
      demand of any federal, state or local governmental or regulatory
      authority, which violation, in the Special Servicer's good faith and
      reasonable judgment, is likely to affect materially and adversely either
      the ability of the Special Servicer to perform its obligations under this
      Agreement or the financial condition of the Special Servicer.

            (vi) No litigation is pending or, to the best of the Special
      Servicer's knowledge, threatened against the Special Servicer, the outcome
      of which in the Special Servicer's reasonable judgment, is likely to
      materially and adversely affect either the ability of the Special Servicer
      to perform its obligations under this Agreement or the financial condition
      of the Special Servicer.

            (vii) Each officer or employee of the Special Servicer that has
      responsibilities concerning the servicing and administration of the
      Serviced Loans is covered by errors and omissions insurance in the amounts
      and with the coverage required by Section 3.07(c).

            (viii) No consent, approval, authorization or order of, or filing or
      registration with, any state or federal court or governmental agency or
      body is required for the consummation by the Special Servicer of the
      transactions contemplated herein, except for those consents, approvals,
      authorizations and orders that previously have been obtained and those
      filings and registrations that previously have been completed.

      (b) The representations and warranties of the Special Servicer set forth
in Section 2.06(a) shall survive the execution and delivery of this Agreement
and inure to the benefit of the Persons for whose benefit they were made for so
long as the Trust remains in existence. Upon discovery by any of the parties
hereto of a breach of any of such representations and warranties that materially
and adversely affects the interests of the Certificateholders or any party
hereto, the party discovering such breach shall give prompt written notice to
each of the other parties hereto.

      (c) Each successor Special Servicer (if any) shall be deemed to have made,
as of the date of its succession, each of the representations set forth in
Section 2.06(a), subject to such appropriate modifications to the representation
and warranty set forth in Section 2.06(a)(i) to accurately reflect such
successor's jurisdiction of organization and whether it is a corporation,
partnership, bank, association or other type of organization.

      Section 2.07 Representations and Warranties of the Trustee and the REMIC
Administrator.

      (a) LaSalle Bank National Association, both in its capacity as Trustee and
in its capacity as REMIC Administrator (the "Bank"), hereby represents and
warrants to the other parties hereto and for the benefit of the
Certificateholders and the Companion Loan Holder(s), as of the Closing Date,
that:

            (i) The Bank is a national bank duly organized, validly existing and
      in good standing under the laws of the United States and is, shall be or,
      if necessary, shall appoint a co-trustee that is, in compliance with the
      laws of each jurisdiction in which any Mortgaged Property is located to
      the extent necessary to ensure the enforceability of each Loan and to
      perform its obligations under this Agreement.

            (ii) The execution and delivery of this Agreement by the Bank, and
      the performance and compliance with the terms of this Agreement by the
      Bank, do not violate the Bank's organizational documents or constitute a
      default (or an event that, with notice or lapse of time, or both, would
      constitute a default) under, or result in the breach of, any material
      agreement or other instrument to which it is a party or that is applicable
      to it or any of its assets, which default, in the Bank's good faith and
      reasonable judgment, is likely to materially and adversely affect either
      the ability of the Bank to perform its obligations under this Agreement or
      the financial condition of the Bank.

            (iii) The Bank has the full power and authority to enter into and
      consummate all transactions contemplated by this Agreement, has duly
      authorized the execution, delivery and performance of this Agreement, and
      has duly executed and delivered this Agreement.

            (iv) This Agreement, assuming due authorization, execution and
      delivery by each of the other parties hereto, constitutes a valid, legal
      and binding obligation of the Bank, enforceable against the Bank in
      accordance with the terms hereof, subject to (A) applicable bankruptcy,
      insolvency, reorganization, moratorium and other laws affecting the
      enforcement of creditors' rights generally, and (B) general principles of
      equity, regardless of whether such enforcement is considered in a
      proceeding in equity or at law.

            (v) The Bank is not in violation of, and its execution and delivery
      of this Agreement and its performance and compliance with the terms of
      this Agreement do not constitute a violation of, any law, any order or
      decree of any court or arbiter, or any order, regulation or demand of any
      federal, state or local governmental or regulatory authority, which
      violation, in the Bank's good faith and reasonable judgment, is likely to
      affect materially and adversely either the ability of the Bank to perform
      its obligations under this Agreement or the financial condition of the
      Bank.

            (vi) No litigation is pending or, to the best of the Bank's
      knowledge, threatened against the Bank that would prohibit the Bank from
      entering into this Agreement or, in the Bank's good faith and reasonable
      judgment, is likely to materially and adversely affect either the ability
      of the Bank to perform its obligations under this Agreement or the
      financial condition of the Bank.

            (vii) No consent, approval, authorization or order of, or filing or
      registration with, any state or federal court or governmental agency or
      body is required for the consummation by the Bank of the transactions
      contemplated herein, except for those consents, approvals, authorizations
      and orders that previously have been obtained and those filings and
      registrations that previously have been completed.

      (b) The representations and warranties of the Bank set forth in Section
2.07(a) shall survive the execution and delivery of this Agreement and shall
inure to the benefit of the Persons for whose benefit they were made for so long
as the Trust remains in existence. Upon discovery by any of the parties hereto
of a breach of any of such representations and warranties that materially and
adversely affects the interests of the Certificateholders or any party hereto,
the party discovering such breach shall give prompt written notice to each of
the other parties hereto.

      (c) Each successor Trustee or REMIC Administrator (if any and regardless
of whether the Trustee and the REMIC Administrator are different Persons) shall
be deemed to have made, as of the date of its succession, each of the
representations set forth in Section 2.07(a), subject to such appropriate
modifications to the representation and warranty set forth in Section 2.07(a)(i)
to accurately reflect such successor's jurisdiction of organization and whether
it is a corporation, partnership, bank, association or other type of
organization. In any such case, the term "Bank" shall be deemed to mean such
successor Trustee or the REMIC Administrator, as appropriate.

      Section 2.08 [Reserved].

      Section 2.09 Issuance of the Class R-I Certificates; Creation of the REMIC
I Regular Interests.

      Concurrently with the assignment to the Trustee of the assets included in
REMIC I, and in exchange therefor, at the direction of the Depositor, the REMIC
I Regular Interests have been issued hereunder and the Trustee has executed,
authenticated and delivered to or upon the order of the Depositor, in exchange
for such assets, the Class R-I Certificates in authorized denominations. The
Class R-I Certificates, together with the REMIC I Regular Interests, constitute
the entire beneficial ownership of REMIC I. The rights of the Class R-I
Certificateholders and the Trustee for the benefit of REMIC II to receive
distributions from the proceeds of REMIC I in respect of the Class R-I
Certificates and the REMIC I Regular Interests, respectively, shall be as set
forth in this Agreement.

      Section 2.10 Conveyance of REMIC I Regular Interests; Acceptance of REMIC
II by the Trustee.

      The Depositor, as of the Closing Date, and concurrently with the execution
and delivery hereof, does hereby assign without recourse all the right, title
and interest of the Depositor in and to the REMIC I Regular Interests to the
Trustee for the benefit of the Holders of the REMIC II Certificates. The Trustee
acknowledges the assignment to it of the REMIC I Regular Interests and declares
that it holds and will hold the same in trust for the exclusive use and benefit
of all present and future Holders of the REMIC II Certificates.

      Section 2.11 Issuance of the REMIC II Certificates.

      Concurrently with the assignment to the Trustee of the REMIC I Regular
Interests, and in exchange therefor, at the direction of the Depositor, the
Trustee has executed, authenticated and delivered to or upon the order of the
Depositor, the REMIC II Certificates in authorized denominations. The interests
evidenced by the REMIC II Certificates constitute the entire beneficial
ownership of REMIC II. The rights of the Holders of the REMIC II Certificates to
receive distributions from the proceeds of REMIC II shall be as set forth in
this Agreement.

      Section 2.12 Loss of Value Reserve Fund Provisions.

      It is the intention of the parties hereto that any Loss of Value Payments
received by the Trust pursuant to Section 2.03(i), together with the account(s)
and/or sub-account(s) in which such amounts are to be held pursuant to Section
3.04(g), shall collectively constitute an "outside reserve fund" for federal
income tax purposes designated as the "Loss of Value Reserve Fund" and not an
asset of any REMIC or the Grantor Trust. Furthermore, for all federal tax
purposes, the REMIC Administrator and the Special Servicer shall treat any
amounts transferred by a REMIC to the Loss of Value Reserve Fund as amounts
distributed by such REMIC to the applicable Mortgage Loan Seller as beneficial
owner of the Loss of Value Reserve Fund. The related Mortgage Loan Seller will
be the beneficial owner of the Loss of Value Reserve Fund for all federal income
tax purposes, and shall be taxable on all income earned thereon. The Trustee, by
execution and delivery hereof, acknowledges the assignment to it of the assets
consisting of the Loss of Value Reserve Fund, including the amounts held
therein, and declares that it or the REMIC Administrator on its behalf holds and
will hold such assets, through the Special Servicer, in accordance with Section
3.04(g), in trust and for the benefit of the Certificateholders, as their
interests may appear.

      Section 2.13 Designation of Grantor Trust.

      The Depositor, as of the Closing Date, and concurrently with the execution
and delivery hereof, does hereby assign without recourse all the right, title
and interest of the Depositor in and to the Excess Interest to the Trustee for
the benefit of the Holders of the Class V Certificates. The Trustee acknowledges
the assignment to it of the Excess Interest and declares that it holds and will
hold the same in trust for the exclusive use and benefit of all present and
future Holders of the Class V Certificates. Concurrently with the assignment to
the Trustee of the Excess Interest, and in exchange therefor, at the direction
of the Depositor, the Trustee has executed, authenticated and delivered to or
upon the order of the Depositor, the Class V Certificates in authorized
denominations. The Class V Certificates are hereby designated as undivided
beneficial interests in the portion of the Trust Fund consisting of Excess
Interest and the Excess Interest Distribution Account, which portion shall be
treated as a grantor trust within the meaning of subpart E, Part I of subchapter
J of the Code.

<PAGE>

                                   ARTICLE III

                 ADMINISTRATION AND SERVICING OF THE TRUST FUND

      Section 3.01 Administration of the Serviced Loans.

      (a) Each of the Master Servicer and the Special Servicer shall service and
administer the Serviced Loans and any REO Properties that it is obligated to
service and administer pursuant to this Agreement on behalf of the Trustee, and
in the best interests and for the benefit of the Certificateholders in
accordance with any and all applicable laws, the terms of this Agreement, the
terms of the respective Serviced Loans and, to the extent consistent with the
foregoing, in accordance with the Servicing Standard. Without limiting the
foregoing, and subject to Section 3.21, (i) the Master Servicer shall service
and administer all Performing Serviced Loans, and (ii) the Special Servicer
shall service and administer (x) each Serviced Loan (other than a Corrected
Serviced Loan) as to which a Servicing Transfer Event has occurred and is
continuing, and (y) each REO Property; provided, however, that the Master
Servicer shall continue to collect information and prepare all reports to the
Trustee required hereunder with respect to any Specially Serviced Loans and REO
Properties (and the related REO Serviced Loans), and further to render such
incidental services with respect to any Specially Serviced Loans and REO
Properties as are specifically provided for herein; and provided, further, that
the Special Servicer shall render such incidental services with respect to
Performing Serviced Loans as are specifically provided for herein. The Master
Servicer shall not, on behalf of the Trust, obtain title to a Mortgaged
Property.

      (b) Subject to Section 3.01(a) the Master Servicer and the Special
Servicer shall each have full power and authority, acting alone or through
Sub-Servicers, to do or cause to be done any and all things in connection with
such servicing and administration that it may deem necessary or desirable.
Without limiting the generality of the foregoing, each of the Master Servicer
(with respect to Performing Serviced Loans and Corrected Serviced Loans) and the
Special Servicer (with respect to Specially Serviced Loans and REO Serviced
Loans), in its own name or in the name of the Trustee, is hereby authorized and
empowered by the Trustee to execute and deliver, on behalf of the
Certificateholders, the Trustee or any of them: (i) any and all financing
statements, control agreements, continuation statements and other documents or
instruments necessary to perfect or maintain the lien created by any Mortgage or
other security document in the related Mortgage File on the related Mortgaged
Property and other related collateral; (ii) any and all instruments of
satisfaction or cancellation, or of partial or full release or discharge, and
all other comparable instruments; and (iii) subject to Sections 3.08 and 3.20,
any and all assumptions, modifications, waivers, substitutions, extensions,
amendments and consents. Subject to Section 3.10, the Trustee shall, at the
written request of a Servicing Officer of the Master Servicer or the Special
Servicer, furnish, or cause to be so furnished, to the Master Servicer or the
Special Servicer, as appropriate, any limited powers of attorney and other
documents (each of which shall be prepared by the Master Servicer or the Special
Servicer, as applicable) necessary or appropriate to enable it to carry out its
servicing and administrative duties hereunder; provided, that the Trustee shall
not be held liable for any misuse of any such power of attorney by the Master
Servicer or the Special Servicer and the Trustee will be indemnified pursuant
to, and subject to the limitations set forth in, Section 8.05 for any losses or
expenses it incurs due to the Master Servicer's use of such power of attorney.

      (c) Notwithstanding anything contained herein to the contrary, neither the
Master Servicer nor the Special Servicer shall without the Trustee's written
consent: (i) initiate any action, suit or proceeding solely under the Trustee's
name without indicating the Master Servicer's or such Special Servicer's, as
applicable, representative capacity, or (ii) take any action with the intent to
cause, and that actually does cause, the Trustee to be registered to do business
in any state.

      The Master Servicer and/or the Special Servicer shall indemnify the
Trustee for any and all costs, liabilities and expenses incurred by the Trustee
in connection with the negligent or willful misuse of such powers of attorney by
the Master Servicer or the Special Servicer, as applicable.

      (d) The relationship of each of the Master Servicer and the Special
Servicer to the Trustee and, unless they are the same Person, each other under
this Agreement is intended by the parties to this Agreement to be that of an
independent contractor and not that of a joint venturer, partner or agent.

      (e) The parties hereto acknowledge that each of the Desert Passage Pari
Passu Note A-3 Mortgage Loan and the 277 Park Avenue Pari Passu Note A-3
Mortgage Loan is subject to the terms and conditions of the related
Intercreditor Agreement. The parties hereto further recognize (i) the respective
rights and obligations of the "Lenders" under the Desert Passage Intercreditor
Agreement, including with respect to the allocation of collections on or in
respect of the Desert Passage Whole Loan and the making of payments to the
"Lenders" in accordance with Section 1(b) of the Desert Passage Intercreditor
Agreement and (ii) the respective rights and obligations of the "Lenders" under
the 277 Park Avenue Intercreditor Agreement, including with respect to the
allocation of collections on or in respect of the 277 Park Avenue Whole Loan and
the making of payments to the "Lenders" in accordance with Section 1(b) of the
277 Park Avenue Intercreditor Agreement.

      (f) The parties hereto acknowledge that the Desert Passage Pari Passu Note
A-3 Mortgage Loan is further subject to the servicing under and all other terms
and conditions of the Desert Passage Pooling Agreement. The parties hereto
further recognize the respective rights and obligations of the "Lead Lender",
the "A-2 Co-Lender" and the "A-3 Co-Lender" under the Desert Passage
Intercreditor Agreement, including with respect to (i) the allocation of
collections on or in respect of the Desert Passage Pari Passu Note A-3 in
accordance with Section 1(b) of the Desert Passage Intercreditor Agreement, and
(ii) the making of payments to the holders of the Desert Passage Pari Passu Note
A-1, the Desert Passage Pari Passu Note A-2 and the Desert Passage Pari Passu
Note A-3 in accordance with Section 1(b) of the Desert Passage Intercreditor
Agreement.

      Notwithstanding anything herein to the contrary, the parties hereto
acknowledge and agree that the Master Servicer's obligations and
responsibilities hereunder and the Master Servicer's authority with respect to
the Desert Passage Pari Passu Note A-3 Mortgage Loan are limited by and subject
to the terms of the Desert Passage Intercreditor Agreement and the rights of the
Desert Passage Master Servicer and the Desert Passage Special Servicer with
respect thereto under the Desert Passage Pooling Agreement. The Master Servicer
shall use reasonable best efforts consistent with the Servicing Standard to
enforce the rights of the Trustee (as holder of the Desert Passage Pari Passu
Note A-3 Mortgage Loan) under the Desert Passage Intercreditor Agreement and the
Desert Passage Pooling Agreement. The Master Servicer shall take such actions as
it shall deem reasonably necessary to facilitate the servicing of the Desert
Passage Pari Passu Note A-3 Mortgage Loan by the Desert Passage Master Servicer
and the Desert Passage Special Servicer including, but not limited to,
delivering appropriate Requests for Release to the Trustee and Custodian (if
any) to deliver any portion of the related Mortgage File to the Desert Passage
Master Servicer or Desert Passage Special Servicer under the Desert Passage
Pooling Agreement. The Trustee, on behalf of the Certificateholders, hereby
assumes the obligations of the "A-3 Co-Lender" under the Desert Passage
Intercreditor Agreement (other than with respect to the representations and
warranties of such A-2 Co-Lender); provided that the Master Servicer, on behalf
of the Trustee, will perform any servicing-related obligations assigned therein
to such Note A-3 Co-Lender.

      The parties hereto acknowledge that the Desert Passage Pari Passu Note A-3
Mortgage Loan is subject to the terms and conditions of the Desert Passage
Intercreditor Agreement and further acknowledge that, pursuant to the Desert
Passage Intercreditor Agreement, (i) the Desert Passage Pari Passu Note A-3
Mortgage Loan is to be serviced and administered by the Desert Passage Master
Servicer in accordance with the Desert Passage Pooling Agreement, and (ii) in
the event that (A) the Desert Passage Pari Passu Note A-1 is no longer part of
the trust fund established under the Desert Passage Pooling Agreement and (B)
the Desert Passage Pari Passu Note A-3 Mortgage Loan is included in the Trust
Fund, then, as set forth in the Desert Passage Intercreditor Agreement, the
Desert Passage Pari Passu Note A-3 Mortgage Loan shall continue to be serviced
in accordance with the applicable provisions of the Desert Passage Pooling
Agreement, with each of the Desert Passage Master Servicer and the Desert
Passage Special Servicer continuing to act in their respective capacities
thereunder (or by such successor master servicer or special servicer as meets
the requirements of the Desert Passage Pooling Agreement) until such time as a
new servicing agreement has been agreed to by the parties to the Desert Passage
Intercreditor Agreement in accordance with the provisions of such agreement and
confirmation has been obtained from the Rating Agencies that such new servicing
agreement would not result in a downgrade, qualification or withdrawal of the
then current ratings of any Class of Certificates or Class of Desert Passage
Pari Passu Note A-1 Companion Loan Securities then outstanding.

      The parties hereto agree and acknowledge that, pursuant to the Desert
Passage Intercreditor Agreement, the Trust Fund shall be responsible for a
proportionate share of reimbursement for any Desert Passage Nonrecoverable
Servicing Advances (together with interest thereon, as set forth in the Desert
Passage Pooling Agreement) and any Additional Trust Fund Expenses (as defined in
the Desert Passage Pooling Agreement) that relates exclusively to the servicing
of the Desert Passage Pari Passu Note A-3 Mortgage Loan. In this regard,

            (i) if the Desert Passage Pooling Agreement permits the Desert
      Passage Master Servicer, the Desert Passage Special Servicer or the Desert
      Passage Trustee to seek reimbursement for such amounts out of general
      collections in the trust fund created pursuant to the Desert Passage
      Pooling Agreement, then the Master Servicer, on behalf of the Trust Fund,
      shall reimburse such trust fund for the Trust Fund's proportionate share
      of such amounts out of general collections in the Trust Fund; and

            (ii) if the Desert Passage Pooling Agreement does not permit such
      parties to seek reimbursement for such amounts out of general collections
      in the trust fund created pursuant to the Desert Passage Pooling
      Agreement, then the Master Servicer, on behalf of the Trust Fund, shall
      reimburse such parties for the Trust Fund's proportionate share of such
      amounts out of general collections in the Trust Fund.

      Any such amounts shall be reimbursed to such other trust fund out of
collections of principal and other amounts in the Certificate Account in the
same manner as a Nonrecoverable Advance, as set forth in Section 3.05(a).

      Within 30 days of the Closing Date, the Master Servicer shall deliver
notice to the Desert Passage Master Servicer and the Desert Passage Trustee of
the issuance of the Certificates and the securitization of the Desert Passage
Pari Passu Note A-3 Mortgage Loan. Such notice shall include contact information
for the Master Servicer, the Special Servicer, the Trustee and the Directing
Certificateholder, as well as an executed copy of this Agreement; provided,
however, if the Master Servicer has not itself received a final copy of this
Agreement within 21 days of the Closing Date, then the Master Servicer may
forward a working draft and send a final copy as promptly as practicable after
its receipt of the same.

      (g) The parties hereto acknowledge that the 277 Park Avenue Pari Passu
Note A-3 Mortgage Loan is further subject to the servicing under and all other
terms and conditions of the 277 Park Avenue Pooling Agreement. The parties
hereto further recognize the respective rights and obligations of the "Lead
Lender", the "A-2 Co-Lender" and the "A-3 Co-Lender" under the 277 Park Avenue
Intercreditor Agreement, including with respect to (i) the allocation of
collections on or in respect of the 277 Park Avenue Pari Passu Note A-3 in
accordance with Section 1(b) of the 277 Park Avenue Intercreditor Agreement, and
(ii) the making of payments to the holders of the 277 Park Avenue Pari Passu
Note A-1, the 277 Park Avenue Pari Passu Note A-2 and the 277 Park Avenue Pari
Passu Note A-3 in accordance with Section 1(b) of the 277 Park Avenue
Intercreditor Agreement.

      Notwithstanding anything herein to the contrary, the parties hereto
acknowledge and agree that the Master Servicer's obligations and
responsibilities hereunder and the Master Servicer's authority with respect to
the 277 Park Avenue Pari Passu Note A-3 Mortgage Loan are limited by and subject
to the terms of the 277 Park Avenue Intercreditor Agreement and the rights of
the 277 Park Avenue Master Servicer and the 277 Park Avenue Special Servicer
with respect thereto under the 277 Park Avenue Pooling Agreement. The Master
Servicer shall use reasonable best efforts consistent with the Servicing
Standard to enforce the rights of the Trustee (as holder of the 277 Park Avenue
Pari Passu Note A-3 Mortgage Loan) under the 277 Park Avenue Intercreditor
Agreement and the 277 Park Avenue Pooling Agreement. The Master Servicer shall
take such actions as it shall deem reasonably necessary to facilitate the
servicing of the 277 Park Avenue Pari Passu Note A-3 Mortgage Loan by the 277
Park Avenue Master Servicer and the 277 Park Avenue Special Servicer including,
but not limited to, delivering appropriate Requests for Release to the Trustee
and Custodian (if any) to deliver any portion of the related Mortgage File to
the 277 Park Avenue Master Servicer or 277 Park Avenue Special Servicer under
the 277 Park Avenue Pooling Agreement. The Trustee, on behalf of the
Certificateholders, hereby assumes the obligations of the "A-3 Co-Lender" under
the 277 Park Avenue Intercreditor Agreement (other than with respect to the
representations and warranties of such A-2 Co-Lender); provided that the Master
Servicer, on behalf of the Trustee, will perform any servicing-related
obligations assigned therein to such Note A-3 Co-Lender.

      The parties hereto acknowledge that the 277 Park Avenue Pari Passu Note
A-3 Mortgage Loan is subject to the terms and conditions of the 277 Park Avenue
Intercreditor Agreement and further acknowledge that, pursuant to the 277 Park
Avenue Intercreditor Agreement, (i) the 277 Park Avenue Pari Passu Note A-3
Mortgage Loan is to be serviced and administered by the 277 Park Avenue Master
Servicer in accordance with the 277 Park Avenue Pooling Agreement, and (ii) in
the event that (A) the 277 Park Avenue Pari Passu Note A-1 is no longer part of
the trust fund established under the 277 Park Avenue Pooling Agreement and (B)
the 277 Park Avenue Pari Passu Note A-3 Mortgage Loan is included in the Trust
Fund, then, as set forth in the 277 Park Avenue Intercreditor Agreement, the 277
Park Avenue Pari Passu Note A-3 Mortgage Loan shall continue to be serviced in
accordance with the applicable provisions of the 277 Park Avenue Pooling
Agreement, with each of the 277 Park Avenue Master Servicer and the 277 Park
Avenue Special Servicer continuing to act in their respective capacities
thereunder (or by such successor master servicer or special servicer as meets
the requirements of the 277 Park Avenue Pooling Agreement) until such time as a
new servicing agreement has been agreed to by the parties to the 277 Park Avenue
Intercreditor Agreement in accordance with the provisions of such agreement and
confirmation has been obtained from the Rating Agencies that such new servicing
agreement would not result in a downgrade, qualification or withdrawal of the
then current ratings of any Class of Certificates or Class of 277 Park Avenue
Pari Passu Note A-1 Companion Loan Securities then outstanding.

      The parties hereto agree and acknowledge that, pursuant to the 277 Park
Avenue Intercreditor Agreement, the Trust Fund shall be responsible for a
proportionate share of reimbursement for any 277 Park Avenue Nonrecoverable
Servicing Advances (together with interest thereon, as set forth in the 277 Park
Avenue Pooling Agreement) and any Additional Trust Fund Expenses (as defined in
the 277 Park Avenue Pooling Agreement) that relates exclusively to the servicing
of the 277 Park Avenue Pari Passu Note A-3 Mortgage Loan. In this regard,

            (i) if the 277 Park Avenue Pooling Agreement permits the 277 Park
      Avenue Master Servicer, the 277 Park Avenue Special Servicer or the 277
      Park Avenue Trustee to seek reimbursement for such amounts out of general
      collections in the trust fund created pursuant to the 277 Park Avenue
      Pooling Agreement, then the Master Servicer, on behalf of the Trust Fund,
      shall reimburse such trust fund for the Trust Fund's proportionate share
      of such amounts out of general collections in the Trust Fund; and

            (ii) if the 277 Park Avenue Pooling Agreement does not permit such
      parties to seek reimbursement for such amounts out of general collections
      in the trust fund created pursuant to the 277 Park Avenue Pooling
      Agreement, then the Master Servicer, on behalf of the Trust Fund, shall
      reimburse such parties for the Trust Fund's proportionate share of such
      amounts out of general collections in the Trust Fund.

      Any such amounts shall be reimbursed to such other trust fund out of
collections of principal and other amounts in the Certificate Account in the
same manner as a Nonrecoverable Advance, as set forth in Section 3.05(a).

      Within 30 days of the Closing Date, the Master Servicer shall deliver
notice to the 277 Park Avenue Master Servicer and the 277 Park Avenue Trustee of
the issuance of the Certificates and the securitization of the 277 Park Avenue
Pari Passu Note A-3 Mortgage Loan. Such notice shall include contact information
for the Master Servicer, the Special Servicer, the Trustee and the Directing
Certificateholder, as well as an executed copy of this Agreement; provided,
however, if the Master Servicer has not itself received a final copy of this
Agreement within 21 days of the Closing Date, then the Master Servicer may
forward a working draft and send a final copy as promptly as practicable after
its receipt of the same.

      Section 3.02 Collection of Mortgage Loan Payments.

      (a) The Master Servicer (with respect to Performing Serviced Loans) and
the Special Servicer (with respect to Specially Serviced Loans) shall undertake
reasonable efforts to collect all payments called for under the terms and
provisions of the Serviced Loans and shall follow such collection procedures as
are consistent with applicable law, the express terms of this Agreement and the
related loan documents and, to the extent consistent with the foregoing, the
Servicing Standard, provided that neither the Master Servicer nor the Special
Servicer shall, with respect to any ARD Loan after its Anticipated Repayment
Date, take any enforcement action with respect to the payment of Excess Interest
(other than the making of requests for its collection), unless (i) the taking of
an enforcement action with respect to the payment of other amounts due under
such Serviced Loan is, in the good faith and reasonable judgment of the Special
Servicer, and without regard to such Excess Interest, also necessary,
appropriate and consistent with the Servicing Standard or (ii) all other amounts
due under such Loan have been paid, the payment of such Excess Interest has not
been forgiven in accordance with Section 3.20 and, in the good faith and
reasonable judgment of the Special Servicer, the Liquidation Proceeds expected
to be recovered in connection with such enforcement action will cover the
anticipated costs of such enforcement action and, if applicable, any associated
Advance Interest. Consistent with the foregoing, the Special Servicer (as to
Specially Serviced Loans) may waive any Default Charges in connection with any
specific delinquent payment on a Serviced Loan it is obligated to service
hereunder. Consistent with the foregoing and in each case subject to the
Servicing Standard, the Master Servicer (or if applicable a Sub-Servicer) may
grant a one time waiver of Default Charges in connection with a late payment,
provided that for any waiver thereafter of Default Charges in connection with a
Serviced Loan that is 30 days or more past due, and with respect to which
Advances, Advance Interest or Additional Trust Fund Expenses have been incurred
and remain unreimbursed to the Trust, the Master Servicer must obtain the
consent of the Directing Certificateholder before granting such waiver subject
to the obligation of the Master Servicer to act in accordance with applicable
law and the Servicing Standard. The Directing Certificateholder's consent shall
be deemed granted if it has not responded in writing (which may be via fax or
e-mail) within ten Business Days of its receipt of such request.

      (b) (i) At least 90 days prior to the maturity date of each Balloon Loan
that is included in the Trust Fund, the Master Servicer shall send a notice to
the related Mortgagor of such maturity date (with a copy to be sent to the
Special Servicer) and shall request written confirmation that the Balloon
Payment will be paid by such maturity date.

            (ii) Within 60 days after the Closing Date (or within such shorter
      period as may be required by the applicable Letter of Credit), the Master
      Servicer shall notify each provider of a Letter of Credit for any Serviced
      Loan that the Master Servicer or the Special Servicer, on behalf of the
      Trustee for the benefit of the Certificateholders, shall be the
      beneficiary under each such Letter of Credit. The Master Servicer shall
      maintain and execute each such Letter of Credit, if applicable, in
      accordance with the related loan documents.

            (iii) Within 60 days after the later of (A) the Closing Date as to
      each Serviced Loan that is secured by the interest of the related
      Mortgagor under a Ground Lease (or within such shorter period as may be
      required by the applicable Ground Lease) and (B) the Master Servicer's
      receipt of a copy of the related Ground Lease, the Master Servicer shall
      notify the related ground lessor of the transfer of such Mortgage Loan to
      the Trust pursuant to this Agreement and inform such ground lessor that
      any notices of default under the related Ground Lease should thereafter be
      forwarded to the Master Servicer.

      All amounts received by the Trust with respect to a Whole Loan shall be
applied to amounts due and owing thereunder (including for principal and accrued
and unpaid interest) in accordance with the express provisions of this
Agreement, the related Mortgage Notes, the related Mortgage, the related loan
agreement, if any, and the related Intercreditor Agreement.

      Section 3.03 Collection of Taxes, Assessments and Similar Items; Servicing
Accounts; Servicing Advances; Reserve Accounts.

      (a) The Master Servicer shall, as to all the Serviced Loans, establish and
maintain one or more accounts (the "Servicing Accounts"), into which all Escrow
Payments received by it with respect to the Serviced Loans shall be deposited
and retained. Subject to any terms of the related loan documents that specify
the nature of the account in which Escrow Payments shall be held, each Servicing
Account shall be an Eligible Account. Withdrawals of amounts so collected in
respect of any Serviced Loan (and interest earned thereon) from a Servicing
Account may be made only: (i) to effect payment of real estate taxes,
assessments, insurance premiums, ground rents (if applicable) and comparable
items in respect of related Mortgaged Property; (ii) to reimburse the Master
Servicer, the Special Servicer or the Trustee, as applicable, for any
unreimbursed Servicing Advances made thereby to cover any of the items described
in the immediately preceding clause (i); (iii) to refund to the related
Mortgagor any sums as may be determined to be overages; (iv) to pay interest or
other income, if required and as described below, to the related Mortgagor on
balances in the Servicing Account (or, if and to the extent not payable to the
related Mortgagor, to pay such interest or other income (up to the amount of any
Net Investment Earnings in respect of such Servicing Account for each Collection
Period) to the Master Servicer); (v) disburse Insurance Proceeds if required to
be applied to the repair or restoration of the related Mortgaged Property; or
(vi) to clear and terminate the Servicing Account at the termination of this
Agreement in accordance with Section 9.01. The Master Servicer shall pay or
cause to be paid to the related Mortgagor interest, if any, earned on the
investment of funds in Servicing Accounts maintained thereby, if required by law
or the terms of the related Serviced Loan. If the Master Servicer shall deposit
into a Servicing Account any amount not required to be deposited therein, it may
at any time withdraw such amount from such Servicing Account, any provision
herein to the contrary notwithstanding. The Special Servicer shall within two
Business Days after receipt deliver all Escrow Payments received by it to the
Master Servicer for deposit into the applicable Servicing Account.

      (b) The Master Servicer shall as to each Serviced Loan, including each
Specially Serviced Loan, (i) maintain accurate records with respect to the
related Mortgaged Property reflecting the status of real estate taxes,
assessments and other similar items that are or may become a lien thereon and
the status of insurance premiums and any ground rents payable in respect thereof
and (ii) use reasonable efforts consistent with the Servicing Standard to
obtain, from time to time, all bills for the payment of such items (including
renewal premiums) and effect payment thereof prior to the applicable penalty or
termination date. For purposes of effecting any such payment, the Master
Servicer shall apply Escrow Payments as allowed under the terms of the related
loan documents; provided that if such Serviced Loan does not require the related
Mortgagor to escrow for the payment of real estate taxes, assessments, insurance
premiums, ground rents (if applicable) and similar items, each of the Master
Servicer and the Special Servicer shall use reasonable efforts, as to those
Serviced Loans it is obligated to service hereunder, and subject to and in
accordance with the Servicing Standard, enforce the requirement of the related
Mortgage that the Mortgagor make payments in respect of such items at the time
they first become due.

      (c) In accordance with the Servicing Standard and for all Serviced Loans,
but subject to Section 3.11(h), the Master Servicer shall make a Servicing
Advance with respect to each Mortgaged Property (including each Mortgaged
Property relating to a Specially Serviced Loan) all such funds as are necessary
for the purpose of effecting the timely payment of (i) real estate taxes,
assessments and other similar items, (ii) ground rents (if applicable), and
(iii) premiums on Insurance Policies, in each instance prior to the applicable
penalty or termination date if and to the extent that (x) Escrow Payments (if
any) collected from the related Mortgagor are insufficient to pay such item when
due, and (y) the related Mortgagor has failed to pay such item on a timely
basis; provided that, in the case of amounts described in the preceding clause
(i), the Master Servicer shall not make a Servicing Advance of any such amount
until the Master Servicer (in accordance with the Servicing Standard) has actual
knowledge that the Mortgagor has not made such payments and reasonably
anticipates that such amounts will not be paid by the related Mortgagor on or
before the applicable penalty date. All such Advances shall be reimbursable in
the first instance from related collections from the Mortgagor and further as
provided in Section 3.05. No costs incurred by the Master Servicer in effecting
the payment of real estate taxes, assessments and, if applicable, ground rents
on or in respect of such Mortgaged Properties shall, for purposes hereof,
including calculating monthly distributions to Certificateholders, be added to
the respective unpaid principal balances or Stated Principal Balances of the
related Serviced Loans, notwithstanding that the terms of such Serviced Loans so
permit; provided that this sentence shall not be construed to limit the rights
of the Master Servicer on behalf of the Trust, to enforce any obligations of the
related Mortgagor under such Serviced Loan.

      The parties hereto acknowledge that, pursuant to the Desert Passage
Pooling Agreement, the Desert Passage Master Servicer is obligated to make
servicing advances with respect to the Desert Passage Pari Passu Note A-3
Mortgage Loan. The Desert Passage Master Servicer shall be entitled to
reimbursement for Desert Passage Nonrecoverable Servicing Advances (with any
accrued and unpaid interest thereon provided for under the Desert Passage
Pooling Agreement) in the manner set forth in the Desert Passage Pooling
Agreement and the Desert Passage Intercreditor Agreement.

      The parties hereto acknowledge that, pursuant to the 277 Park Avenue
Pooling Agreement, the 277 Park Avenue Master Servicer is obligated to make
servicing advances with respect to the 277 Park Avenue Pari Passu Note A-3
Mortgage Loan. The 277 Park Avenue Master Servicer shall be entitled to
reimbursement for 277 Park Avenue Nonrecoverable Servicing Advances (with any
accrued and unpaid interest thereon provided for under the 277 Park Avenue
Pooling Agreement) in the manner set forth in the 277 Park Avenue Pooling
Agreement and the 277 Park Avenue Intercreditor Agreement.

      (d) The Master Servicer shall establish and maintain, as applicable, one
or more accounts (the "Reserve Accounts"), in which all Reserve Funds, if any,
received by it with respect to the Serviced Loans shall be deposited and
retained. As and to the extent consistent with the Servicing Standard and the
related loan documents, the Master Servicer may make withdrawals of amounts so
deposited, and draws under any Letter of Credit delivered in lieu of Reserve
Funds, to pay for, or to reimburse the related Mortgagor in connection with, the
costs associated with the related tenant improvements, leasing commissions,
repairs, replacements, capital improvements and/or environmental testing and
remediation, litigation and/or other special expenses at or with respect to the
related Mortgaged Property for which such Reserve Funds were intended or such
Letter of Credit was delivered and, in the case of a Reserve Fund constituting
debt service reserve accounts, to apply amounts on deposit therein in respect of
principal and interest on the related Serviced Loan. In addition, as and to the
extent consistent with the Servicing Standard and the related loan documents,
the Master Servicer may make withdrawals of amounts so deposited, and draws
under any Letter of Credit so delivered, to prepay the Serviced Loan in the
event certain leasing or other economic criteria are not satisfied at the
related Mortgaged Property (but only if such prepayment is required by the
related loan documents or continuing to hold such funds or Letter of Credit as
Additional Collateral is not consistent with the Servicing Standard), or to
release such amounts to the related Mortgagor or otherwise apply such amounts
for any other appropriate purpose in the event that such criteria are satisfied,
and the Master Servicer may return any Letter of Credit so delivered to the
related Mortgagor. Subject to the terms of the related loan documents, each
Reserve Account shall be an Eligible Account. Interest and other income, if any,
earned on funds on deposit in any Reserve Account held by the Master Servicer
(to the extent of any Net Investment Earnings with respect to such Reserve
Account for any Collection Period), shall be for the benefit of and payable to
the Master Servicer, unless otherwise required to be paid to the related
Mortgagor by law or the terms of the related Serviced Loan. Any out-of-pocket
expenses incurred by the Master Servicer to enable the Master Servicer to make
any draw under any Letter of Credit shall constitute a Servicing Advance, and
the Master Servicer shall make reasonable efforts to recover such expenses from
the related Mortgagor to the extent the Mortgagor is required to pay such
expenses under the terms of the related loan documents.

      (e) To the extent an operations and maintenance plan is required to be
established and executed pursuant to the terms of a Serviced Loan, the Master
Servicer shall request from the Mortgagor written confirmation thereof within a
reasonable time after the later of the Closing Date and the date as of which
such plan is required to be established or completed. To the extent any repairs,
capital improvements, actions or remediations are required to have been taken or
completed pursuant to the terms of the Serviced Loan, the Master Servicer shall
request from the Mortgagor written confirmation of such actions and remediations
within a reasonable time after the later of the Closing Date and the date as of
which such action or remediations are required by the related loan documents to
be or to have been taken or completed. To the extent a Mortgagor shall fail to
promptly respond to any inquiry described in this Section 3.03(e), the Master
Servicer shall determine whether the related Mortgagor has failed to perform its
obligations under the related Serviced Loan and report any such failure to the
Special Servicer, the Trustee and the Directing Certificateholder within a
reasonable time after the date as of which such actions or remediations are
required to be or to have been taken or completed. The Master Servicer shall
promptly give written notice to the Trustee, the Special Servicer and the
Directing Certificateholder if the Master Servicer shall determine that any
Mortgagor has failed to perform its obligations under the related loan documents
in respect of environmental matters.

      (f) Promptly following the Closing Date, the Trustee shall send written
notice (in the form attached hereto as Exhibit R) to the Desert Passage Master
Servicer and the Desert Passage Trustee stating that, as of the Closing Date,
the Trustee is the holder of the Desert Passage Pari Passu Note A-3 Mortgage
Loan and directing the Desert Passage Master Servicer to remit to the Master
Servicer all amounts payable to, and to forward, deliver or otherwise make
available, as the case may be, to the Master Servicer all reports, statements,
documents, communications and other information that are to be forwarded,
delivered or otherwise made available to, the holder of the Desert Passage Pari
Passu Note A-3 Mortgage Loan under the Desert Passage Intercreditor Agreements
and the Desert Passage Pooling Agreement. The Master Servicer shall, on the day
of receipt thereof, deposit into the Certificate Account all amounts received
with respect to the Desert Passage Pari Passu Note A-3 Mortgage Loan, the Desert
Passage Mortgaged Property or any related REO Property.

      (g) Promptly following the Closing Date, the Trustee shall send written
notice (in the form attached hereto as Exhibit R) to the 277 Park Avenue Master
Servicer and the 277 Park Avenue Trustee stating that, as of the Closing Date,
the Trustee is the holder of the 277 Park Avenue Pari Passu Note A-3 Mortgage
Loan and directing the 277 Park Avenue Master Servicer to remit to the Master
Servicer all amounts payable to, and to forward, deliver or otherwise make
available, as the case may be, to the Master Servicer all reports, statements,
documents, communications and other information that are to be forwarded,
delivered or otherwise made available to, the holder of the 277 Park Avenue Pari
Passu Note A-3 Mortgage Loan under the 277 Park Avenue Intercreditor Agreement
and the 277 Park Avenue Pooling Agreement. The Master Servicer shall, on the day
of receipt thereof, deposit into the Certificate Account all amounts received
with respect to the 277 Park Avenue Pari Passu Note A-3 Mortgage Loan, the 277
Park Avenue Mortgaged Property or any related REO Property.

      Section 3.04 Certificate Account, Distribution Account, REMIC I
Distribution Account, REMIC II Distribution Account, Excess Interest
Distribution Account, Excess Liquidation Proceeds Account and Interest Reserve
Account.

      (a) The Master Servicer shall segregate and hold all funds collected and
received by it in connection with the Mortgage Pool separate and apart from its
own funds and general assets. The Master Servicer shall establish and maintain
one or more accounts (collectively, the "Certificate Account"), held on behalf
of the Trustee in trust for the benefit of the Certificateholders. The
Certificate Account shall be an Eligible Account. The Master Servicer shall
deposit or cause to be deposited into the Certificate Account, within one
Business Day of receipt (in the case of payments by Mortgagors or other
collections on or in respect of the Mortgage Loans) or as otherwise required
hereunder, the following payments and collections received or made by or on
behalf of it (and, with respect to any Non-Serviced Mortgage Loan, to the extent
received pursuant to the related Intercreditor Agreement) subsequent to the
Cut-off Date (other than in respect of principal, interest, Escrow Payments and
any other amounts due and payable on the Mortgage Loans on or before the Cut-off
Date, which payments shall be delivered promptly to the related Mortgage Loan
Seller or its related designee, with negotiable instruments endorsed as
necessary and appropriate without recourse):

            (i) all payments, from whatever source, or transfers from a debt
      service reserve account, on account of principal, including Principal
      Prepayments, on the Mortgage Loans;

            (ii) all payments, from whatever source, or transfers from a debt
      service reserve account, on account of interest on the Mortgage Loans
      including Default Interest and Excess Interest;

            (iii) all Prepayment Premiums received in respect of the Mortgage
      Loans;

            (iv) all payments, Insurance Proceeds, Condemnation Proceeds and
      Liquidation Proceeds received in respect of the Mortgage Loans together
      with any amounts representing recoveries of Workout-Delayed Reimbursement
      Amounts or Nonrecoverable Advances in respect of the related Mortgage
      Loans;

            (v) any amounts required to be deposited by the Master Servicer
      pursuant to Section 3.06 in connection with losses incurred with respect
      to Permitted Investments of funds held in the Certificate Account;

            (vi) any amounts required to be deposited by the Master Servicer or
      the Special Servicer pursuant to Section 3.07(b) in connection with losses
      resulting from a deductible clause in a blanket or master single insurance
      policy;

            (vii) any amounts required to be transferred to the Certificate
      Account from the REO Account pursuant to Section 3.16(c);

            (viii) any amounts representing payments made by Mortgagors that are
      allocable to cover items in respect of which Servicing Advances have been
      made;

            (ix) any proceeds from the repurchase or substitution of Mortgage
      Loans under Section 2.03;

            (x) insofar as they do not constitute Escrow Payments, any amounts
      paid by a Mortgagor specifically to cover items for which a Servicing
      Advance has been made or that represent a recovery of property protection
      expenses from a Mortgagor; and

            (xi) any Loss of Value Payments, as set forth in Section 3.05(g).

      The foregoing requirements for deposit into the Certificate Account shall
be exclusive. Without limiting the generality of the foregoing, actual payments
from Mortgagors in the nature of Escrow Payments, Reserve Funds, late payment
charges, assumption fees, assumption application fees, earnout fees, extension
fees, modification fees, charges for beneficiary statements or demands and
amounts collected for checks returned for insufficient funds, need not be
deposited by the Master Servicer in the Certificate Account. The Master Servicer
shall promptly deliver to the Special Servicer any of the foregoing items
received by it, if and to the extent that such items constitute Additional
Special Servicing Compensation payable to the Special Servicer. If the Master
Servicer shall deposit into the Certificate Account any amount not required to
be deposited therein, it may at any time withdraw such amount from the
Certificate Account, any provision herein to the contrary notwithstanding.

      Upon receipt of any of the amounts described in clauses (i) through (iv)
and (viii) above with respect to any Serviced Loan (for the avoidance of doubt,
not including any REO Serviced Loan), the Special Servicer shall promptly, but
in no event later than one Business Day after receipt of available funds, remit
such amounts to the Master Servicer for deposit into the Certificate Account in
accordance with the second preceding paragraph, unless the Special Servicer
determines, consistent with the Servicing Standard, that a particular item
should not be deposited because of a restrictive endorsement. Any such amounts
received by the Special Servicer with respect to an REO Property shall be
deposited by the Special Servicer into the REO Account and remitted to the
Master Servicer for deposit into the Certificate Account pursuant to Section
3.16(c). With respect to any such amounts paid by check to the order of the
Special Servicer, the Special Servicer shall endorse such check to the order of
the Master Servicer unless the Special Servicer determines, consistent with the
Servicing Standard, that a particular item cannot be so endorsed and delivered
because of a restrictive endorsement.

      (b) The Trustee shall establish and maintain one or more trust accounts
(collectively, the "Distribution Account") to be held in trust for the benefit
of the Trust as holder of the REMIC I Regular Interests, and for the
Certificateholders. The Distribution Account shall be an Eligible Account. On or
prior to 1:00 p.m. New York City time on each Master Servicer Remittance Date,
the Master Servicer shall deliver to the Trustee, for deposit into the
Distribution Account, an aggregate amount of immediately available funds equal
to the Master Servicer Remittance Amount for such Master Servicer Remittance
Date. If, at 3:00 p.m., New York City time, on any Master Servicer Remittance
Date, the Trustee has not received the Master Servicer Remittance Amount, the
Trustee shall provide notice to the Master Servicer in the same manner as
required by Section 4.03(a) with respect to P&I Advances.

            In the event that the Master Servicer fails to remit the Master
Servicer Remittance Amount for such Master Servicer Remittance Date on the
related Master Servicer Remittance Date, the Master Servicer shall pay to the
Trustee interest at the Reimbursement Rate on the Master Servicer Remittance
Amount for the period from and including such Master Servicer Remittance Date to
but excluding the date on which the Master Servicer Remittance Amount is
actually received by the Trustee.

      In addition, the Master Servicer shall, as and when required hereunder,
deliver to the Trustee for deposit into the Distribution Account:

            (i) any P&I Advances required to be made by the Master Servicer in
      accordance with Section 4.03(a);

            (ii) any amounts required to be deposited by the Master Servicer
      pursuant to Section 3.19(e) in connection with Prepayment Interest
      Shortfalls; and

            (iii) any Liquidation Proceeds paid by the Master Servicer or a
      Majority Certificateholder of the Controlling Class in connection with the
      purchase of all of the Mortgage Loans and any REO Properties pursuant to
      Section 9.01, exclusive of the portion of such Liquidation Proceeds
      required to be deposited into the Certificate Account pursuant to Section
      9.01.

      The Trustee shall, upon receipt, deposit into the Distribution Account any
and all amounts received or advanced by the Trustee that are required by the
terms of this Agreement to be deposited therein.

      All such amounts deposited in respect of the Mortgage Loans (other than
Excess Interest, if any) shall, on each Distribution Date, be deemed to be
deposited into the REMIC I Distribution Account in respect of such Mortgage
Loans. All such amounts deposited in respect of such Excess Interest shall be
deemed to be deposited into the Excess Interest Distribution Account.

      (c) (i) The Trustee shall establish and maintain the REMIC I Distribution
Account, as a sub-account of the Distribution Account, in the name of the
Trustee, in trust for the benefit of the Certificateholders (other than Holders
of the Class V Certificates). The REMIC I Distribution Account shall be
established and maintained as an Eligible Account or as a sub-account of the
Distribution Account. With respect to each Distribution Date, the Trustee shall
withdraw or be deemed to withdraw from the REMIC I Distribution Account and
deposit or be deemed to deposit into the REMIC II Distribution Account on or
before such date the amount of the Available Distribution Amount (including P&I
Advances) and Prepayment Premiums to be distributed in respect of the REMIC I
Regular Interests pursuant to Section 4.01(a)(i) and Section 4.01(c)(iv) on such
date.

            (ii) The Trustee shall establish and maintain the REMIC II
      Distribution Account, as a sub-account of the Distribution Account, in the
      name of the Trustee, in trust for the benefit of the REMIC II
      Certificateholders. The REMIC II Distribution Account shall be established
      and maintained as an Eligible Account or as a sub-account of the
      Distribution Account. With respect to each Distribution Date, the Trustee
      shall withdraw or be deemed to withdraw from the REMIC II Distribution
      Account the amount of the Available Distribution Amount (including P&I
      Advances) and Prepayment Premiums to be distributed in respect of the
      REMIC II Certificates pursuant to Section 4.01(b)(i) and Section
      4.01(c)(i) on such date.

            (iii) The Trustee shall establish and maintain one or more accounts
      or sub-accounts (collectively, the "Excess Liquidation Proceeds Account")
      in the name of the Trustee, in trust for the benefit of the
      Certificateholders. Each account that constitutes the Excess Liquidation
      Proceeds Account shall be an Eligible Account. On each Master Servicer
      Remittance Date, the Master Servicer shall withdraw from the Certificate
      Account and remit to the Trustee for deposit into the Excess Liquidation
      Proceeds Account all Excess Liquidation Proceeds received during the
      Collection Period ending on the Business Day prior to such Master Servicer
      Remittance Date.

            (iv) The Trustee shall establish and maintain one or more accounts
      or sub-accounts (collectively, the "Excess Interest Distribution
      Account"), in the name of the Trustee, in trust for the benefit of the
      Class V Certificateholders. Each account that constitutes the Excess
      Interest Distribution Account shall be an Eligible Account. On each Master
      Servicer Remittance Date, the Master Servicer shall withdraw from the
      Certificate Account and remit to the Trustee for deposit into the Excess
      Interest Distribution Account all Excess Interest received during the
      Collection Period ending on the Business Day prior to such Master Servicer
      Remittance Date.

      (d) Funds in the Certificate Account may be invested only in Permitted
Investments in accordance with the provisions of Section 3.06. The Master
Servicer shall give notice to the other parties hereto of the location of the
Certificate Account as of the Closing Date and of the new location of the
Certificate Account prior to any change thereof. The Distribution Account, the
REMIC I Distribution Account, the REMIC II Distribution Account, the Excess
Interest Distribution Account and the Excess Liquidation Proceeds Account shall
be established at the Corporate Trust Office of the Trustee as of the Closing
Date, and the Trustee shall give notice to the other parties hereto of the new
location of the Distribution Account, the REMIC I Distribution Account, the
REMIC II Distribution Account, the Excess Interest Distribution Account and the
Excess Liquidation Proceeds Account prior to any change thereof. Funds in the
Excess Interest Distribution Account, if established, and the Excess Liquidation
Proceeds Account, if established, shall remain uninvested.

      (e) [Reserved.]

      (f) The Master Servicer shall establish and maintain the Interest Reserve
Account in trust for the benefit of the Certificateholders. The Master Servicer
is hereby authorized to make deposits in and withdrawals from the Interest
Reserve Account, in accordance with the terms of this Agreement. The Interest
Reserve Account shall be maintained as a segregated account separate from other
accounts.

      (g) If any Loss of Value Payments are received in connection with a
Material Defect or Material Breach, as the case may be, pursuant to or as
contemplated by Section 2.03(i), the Special Servicer shall establish and
maintain one or more non-interest bearing accounts (collectively, the "Loss of
Value Reserve Fund") to be held in trust for the benefit of the
Certificateholders, for purposes of holding such Loss of Value Payments. Each
account that constitutes the Loss of Value Reserve Fund shall be an Eligible
Account or a sub-account of an Eligible Account. The Special Servicer shall,
upon receipt, deposit in the Loss of Value Reserve Fund all Loss of Value
Payments received by it.

      Section 3.05 Permitted Withdrawals From the Certificate Account, the
Distribution Account and the Excess Liquidation Proceeds Account.

      (a) The Master Servicer may, from time to time, make withdrawals from the
Certificate Account for any of the following purposes (the order set forth below
not constituting an order of priority for such withdrawals):

            (i) to remit to the Trustee no later than 1:00 p.m. (New York time)
      for deposit into the Distribution Account and the Excess Interest
      Distribution Account, the Master Servicer Remittance Amount for, and, to
      the extent permitted or required by Section 4.03(a), as applicable, any
      P&I Advances to be made on, each Master Servicer Remittance Date;

            (ii) to reimburse the Master Servicer or the Trustee, as applicable,
      for unreimbursed P&I Advances made thereby (in each case, with its own
      funds), the Master Servicer's and the Trustee's, as the case may be,
      respective rights to reimbursement pursuant to this clause (ii) with
      respect to any P&I Advance (other than Nonrecoverable P&I Advances, which
      are reimbursable pursuant to clause (vii) below) being limited to amounts
      that represent Late Collections of interest and principal received in
      respect of the particular Mortgage Loan or REO Serviced Loan as to which
      such P&I Advance was made (net of related Master Servicing Fees and/or
      Workout Fees);

            (iii) to pay to the Master Servicer earned and unpaid Master
      Servicing Fees in respect of each Mortgage Loan and REO Serviced Loan, the
      Master Servicer's right to payment pursuant to this clause (iii) with
      respect to any Mortgage Loan or REO Serviced Loan being payable from, and
      limited to, amounts received on or in respect of such Mortgage Loan
      (whether in the form of payments, Liquidation Proceeds, Condemnation
      Proceeds or Insurance Proceeds) or such REO Serviced Loan (whether in the
      form of REO Revenues, Liquidation Proceeds or Insurance Proceeds) that are
      allocable as a recovery of interest thereon;

            (iv) to pay to the Special Servicer, out of general collections on
      the Mortgage Loans and any REO Properties, earned and unpaid Special
      Servicing Fees in respect of each Specially Serviced Loan and REO Serviced
      Loan and to pay to the Desert Passage Special Servicer and/or the 277 Park
      Avenue Special Servicer, as applicable, out of general collections on the
      Mortgage Loans and any REO Properties, the Trust Fund's applicable share
      of any earned and unpaid special servicing fees, liquidation fees and
      workout fees in respect of the Desert Passage Pari Passu Note A-3 Mortgage
      Loan and/or the 277 Park Avenue Pari Passu Note A-3 Mortgage Loan, as
      applicable;

            (v) to pay to the Special Servicer earned and unpaid Workout Fees
      and Liquidation Fees to which it is entitled pursuant to, and from the
      sources contemplated by Section 3.11(c);

            (vi) to reimburse itself, the Special Servicer or the Trustee, as
      applicable, for any unreimbursed Servicing Advances made thereby (in each
      case, with its own funds), the Master Servicer's, the Trustee's or the
      Special Servicer's, as the case may be, respective rights to reimbursement
      pursuant to this clause (vi) with respect to any Servicing Advance (other
      than Nonrecoverable Servicing Advances, which are reimbursable pursuant to
      clause (vii) below) being limited to (A) payments made by the related
      Mortgagor that are allocable to cover the item in respect of which such
      Servicing Advance was made, and (B) Insurance Proceeds, Condemnation
      Proceeds, Liquidation Proceeds and, if applicable, REO Revenues received
      in respect of the particular Mortgage Loan or REO Property as to which
      such Servicing Advance was made;

            (vii) (A) to reimburse the Master Servicer, the Special Servicer or
      the Trustee, as applicable, out of general collections on the Mortgage
      Loans and any REO Properties (exclusive of any Non-Serviced Mortgage
      Loan), for any unreimbursed Advances made thereby that have been
      determined to be Nonrecoverable Advances (provided, that amounts may be
      withdrawn over time as hereinafter provided) or, subject to the
      limitations contained in the following paragraphs of this Section 3.05(a),
      for any Workout-Delayed Reimbursement Amounts; (B) to reimburse the Desert
      Passage Master Servicer, the Desert Passage Special Servicer, or the
      Desert Passage Trustee, as applicable, out of general collections on the
      Mortgage Loans and any REO Properties, the Trust Fund's pro rata share of
      any Desert Passage Nonrecoverable Servicing Advance; and (C) to reimburse
      the 277 Park Avenue Master Servicer, the 277 Park Avenue Special Servicer
      or the 277 Park Avenue Trustee, as applicable, out of general collections
      on the Mortgage Loans and any REO Properties, the Trust Fund's pro rata
      share of any 277 Park Avenue Nonrecoverable Servicing Advance;

            (viii) to pay the Trustee, the Master Servicer, or the Special
      Servicer as applicable, any Advance Interest due and owing thereto out of
      Default Charges collected on the Mortgage Pool, as and to the extent
      contemplated by Section 3.27;

            (ix) (A) to the extent that, during any Collection Period, the
      Master Servicer has reimbursed or is reimbursing itself, the Special
      Servicer and the Trustee, as applicable, for any unreimbursed Advance
      pursuant to clause (ii), (vi) or (vii) above or pursuant to Section 3.03,
      and insofar as payment has not already been made, and the Default Charges
      then on deposit in the Certificate Account is not sufficient to make such
      payment pursuant to clause (viii) above, to pay the Master Servicer, the
      Special Servicer or the Trustee, as the case may be, out of general
      collections on the Mortgage Loans and any REO Properties, any related
      Advance Interest accrued and payable on the portion of such Advance so
      reimbursed or being reimbursed; (B) at such time as it reimburses the
      Desert Passage Master Servicer, the Desert Passage Special Servicer or the
      Desert Passage Trustee, as applicable, for the Trust Fund's pro rata share
      of any Desert Passage Nonrecoverable Servicing Advance, to pay to the
      Desert Passage Master Servicer, the Desert Passage Special Servicer and
      the Desert Passage Trustee, as applicable, out of general collections on
      the Mortgage Loans and any REO Properties, interest accrued and payable on
      the Trust Fund's pro rata share of such Desert Passage Nonrecoverable
      Servicing Advance; and (C) at such time as it reimburses the 277 Park
      Avenue Master Servicer, the 277 Park Avenue Special Servicer or the 277
      Park Avenue Trustee, as applicable, for the Trust Fund's pro rata share of
      any 277 Park Avenue Nonrecoverable Servicing Advance, to pay to the 277
      Park Avenue Master Servicer, the 277 Park Avenue Special Servicer and the
      277 Park Avenue Trustee, as applicable, out of general collections on the
      Mortgage Loans and any REO Properties, interest accrued and payable on the
      Trust Fund's pro rata share of such 277 Park Avenue Nonrecoverable
      Servicing Advance;

            (x) to pay any outstanding expense, other than Advance Interest,
      that was incurred with respect to any Mortgage Loan or related REO
      Serviced Loan and that, if paid from a source other than Default Charges
      collected on the Mortgage Pool, would constitute an Additional Trust Fund
      Expense, such payment to be made out of Default Charges collected on the
      Mortgage Pool, as and to the extent contemplated by Section 3.27;

            (xi) to pay itself any items of Additional Master Servicing
      Compensation, and to pay to the Special Servicer any items of Additional
      Special Servicing Compensation to which it is entitled, in each case from
      funds on deposit in the Certificate Account from time to time;

            (xii) to pay any unpaid Liquidation Expenses incurred with respect
      to any Mortgage Loan or REO Property such payments to be made, first, out
      of payments, Insurance Proceeds, Condemnation Proceeds or Liquidation
      Proceeds and, if applicable, REO Revenues received in respect of such
      Mortgage Loan or REO Property, as the case may be, and then, out of
      general collections on other Mortgage Loans and REO Properties;

            (xiii) to pay, in accordance with Section 3.11(i), out of general
      collections on the Mortgage Loans and any REO Properties, certain
      servicing expenses that would, if advanced, constitute Nonrecoverable
      Servicing Advances;

            (xiv) to pay, out of general collections on the Mortgage Loans and
      any REO Properties, costs and expenses incurred by the Trust Fund pursuant
      to Section 3.09(c) (other than the costs of environmental testing, which
      are to be covered by, and reimbursable as, a Servicing Advance);

            (xv) to pay itself, the Special Servicer, the Depositor, the
      Trustee, or any of their respective directors, officers, members,
      managers, employees and agents, as the case may be, out of general
      collections on the Mortgage Loans and any REO Properties any amounts
      payable to any such Person pursuant to Section 6.03, Section 7.01(b) or
      Section 8.05(b), as applicable;

            (xvi) to pay, out of general collections on the Mortgage Loans and
      REO Properties, for the cost of recording this Agreement in accordance
      with Section 12.02(a);

            (xvii) to pay, out of general collections on the Mortgage Loans and
      any REO Properties, any reasonable out-of-pocket cost or expense
      (including the reasonable fees of tax accountants and attorneys) incurred
      by the Trustee pursuant to Section 3.17(b) in connection with providing
      advice to the Special Servicer;

            (xviii) (A) to pay to the Master Servicer, the Special Servicer, the
      Trustee or the Depositor, as the case may be, any amount specifically
      required to be paid to such Person at the expense of the Trust Fund under
      any provision of this Agreement to which reference is not made in any
      other clause of this Section 3.05(a), it being acknowledged that this
      clause (xviii) shall not be construed to modify any limitation otherwise
      set forth in this Agreement on the time at which any Person is entitled to
      payment or reimbursement of any amount or the funds from which any such
      payment or reimbursement is permitted to be made, and (B) with respect to
      any Non-Serviced Mortgage Loan, to reimburse the related Non-Serviced
      Mortgage Loan Servicer, Non-Serviced Mortgage Loan Special Servicer or
      Non-Serviced Mortgage Loan Trustee, as applicable for the pro rata portion
      of any Additional Trust Fund Expenses (as such term is defined in the
      related Non-Serviced Mortgage Loan Pooling Agreement) that relate
      exclusively to the servicing of such Non-Serviced Whole Loan out of
      general collections on the Mortgage Loans and the REO Properties;

            (xix) to pay the Master Servicer, the Special Servicer, the Mortgage
      Loan Sellers, a Controlling Class Certificateholder or any other
      particular Person, as the case may be, with respect to each Mortgage Loan,
      if any, previously purchased or otherwise removed from the Trust Fund by
      such Person pursuant to or as contemplated by this Agreement, all amounts
      received thereon subsequent to the date of purchase;

            (xx) to transfer Excess Liquidation Proceeds to the Excess
      Liquidation Proceeds Account in accordance with Section 3.04(c)(iv);

            (xxi) to withdraw any amounts deposited in error; and

            (xxii) to clear and terminate the Certificate Account at the
      termination of this Agreement pursuant to Section 9.01.

      If amounts on deposit in the Certificate Account at any particular time
(after withdrawing any portion of such amounts deposited into the Certificate
Account in error) are insufficient to satisfy all payments, reimbursements and
remittances to be made therefrom as set forth in clauses (ii) through (xx)
above, then the corresponding withdrawals from the Certificate Account shall be
made in the following priority and subject to the following rules: (A) if the
payment, reimbursement or remittance is to be made from a specific source of
funds, then such payment, reimbursement or remittance shall be made from that
specific source of funds on a pro rata basis with any and all other payments,
reimbursements and remittances to be made from such specific source of funds;
and (B) if the payment, reimbursement or remittance can be made from any funds
on deposit in the Certificate Account, then (following any withdrawals made from
the Certificate Account in accordance with the immediately preceding clause (A)
above) such payment, reimbursement or remittance shall be made from such general
funds remaining on a pro rata basis with any and all other payments,
reimbursements or remittances to be made from such general funds; provided that
any reimbursements of Advances in respect of any particular Mortgage Loan or REO
Property out of the Certificate Account pursuant to any of clauses (ii), (vi)
and (vii) above, and any payments of interest thereon out of the Certificate
Account pursuant to either of clauses (viii) and (ix) above, shall be made (to
the extent of their respective entitlements to such reimbursements and/or
payments): first, to the Trustee and second, pro rata, to the Master Servicer
and Special Servicer.

      The Master Servicer shall pay to the Special Servicer (or to third party
contractors at the direction of the Special Servicer) from the Certificate
Account amounts permitted to be paid to it (or to such third party contractors)
therefrom promptly upon receipt of a certificate of a Servicing Officer of the
Special Servicer describing the item and amount to which the Special Servicer
(or such third party contractors) is entitled. The Master Servicer may rely
conclusively on any such certificate and shall have no duty to recalculate the
amounts stated therein. The Special Servicer shall keep and maintain separate
accounting for each Specially Serviced Loan and REO Property, on a loan-by-loan
and property-by-property basis, for the purpose of justifying any request for
withdrawal from the Certificate Account.

      Upon the determination that a previously made Advance is a Nonrecoverable
Advance, instead of obtaining reimbursement out of general collections
immediately, the Master Servicer, the Special Servicer or the Trustee, as
applicable, may, in its sole discretion, elect to obtain reimbursement for such
Nonrecoverable Advance over time and the unreimbursed portion of such Advance
will accrue interest at the Reimbursement Rate. If such an election to obtain
reimbursement over time is made, the Master Servicer, the Special Servicer or
the Trustee, as applicable, will, during the first six months after such
nonrecoverability determination was made, only seek reimbursement for such
Nonrecoverable Advance from collections of principal (with such Nonrecoverable
Advances being reimbursed before Workout-Delayed Reimbursement Amounts). After
such initial six months, the Master Servicer, the Special Servicer or the
Trustee, as applicable, may continue to seek reimbursement for such
Nonrecoverable Advance solely from collections of principal or may seek
reimbursement for such Nonrecoverable Advance from general collections, in each
case for a period of time not to exceed an additional six months (with such
Nonrecoverable Advances being reimbursed before Workout-Delayed Reimbursement
Amounts). In the event that the Master Servicer, the Special Servicer or the
Trustee, as applicable, wishes to seek reimbursement over time after the second
six-month period discussed in the preceding sentence, then the Master Servicer,
the Special Servicer or the Trustee, as applicable, may continue to seek
reimbursement for such Nonrecoverable Advance solely from collections of
principal or may seek reimbursement for such Nonrecoverable Advance from general
collections, in either case for such a longer period of time as agreed to by the
Master Servicer, the Special Servicer or the Trustee (as applicable) and the
Directing Certificateholder (with each such applicable party having the right to
agree or disagree in its sole discretion) (with such Nonrecoverable Advances
being reimbursed before Workout-Delayed Reimbursement Amounts). Notwithstanding
the foregoing, at any time after such a determination to obtain reimbursement
over time, the Master Servicer, the Special Servicer or the Trustee, as
applicable, may, in its sole discretion, decide to obtain reimbursement
immediately. The fact that a decision to recover such Nonrecoverable Advances
over time, or not to do so, benefits some Classes of Certificateholders to the
detriment of other Classes shall not, with respect to the Master Servicer or the
Special Servicer, constitute a violation of the Servicing Standard and/or with
respect to the Trustee, constitute a violation of any fiduciary duty to
Certificateholders or contractual duty hereunder. The Master Servicer, the
Special Servicer or the Trustee, as applicable, will give each Rating Agency
three weeks prior notice of its intent to obtain reimbursement of Nonrecoverable
Advances from interest collections as described above unless (1) the Master
Servicer or Special Servicer (or Trustee, if applicable) determines in its sole
discretion that waiting three weeks after such a notice could jeopardize the
Master Servicer's or the Special Servicer's (or Trustee's, if applicable)
ability to recover Nonrecoverable Advances, (2) changed circumstances or new or
different information becomes known to the Master Servicer or Special Servicer
(or Trustee, if applicable) that could affect or cause a determination of
whether any Advance is a Nonrecoverable Advance, whether to defer reimbursement
of a Nonrecoverable Advance or the determination in clause (1) above, or (3) the
Master Servicer or Special Servicer has not timely received from the Trustee
information requested by the Master Servicer or Special Servicer to consider in
determining whether to defer reimbursement of a Nonrecoverable Advance; provided
that, if clause (1), (2) or (3) applies, the Master Servicer or Special Servicer
(or Trustee, if applicable) shall give each Rating Agency notice of an
anticipated reimbursement to it of Nonrecoverable Advances from amounts in the
Certificate Account allocable to interest on the Mortgage Loans as soon as
reasonably practicable in such circumstances. The Master Servicer or Special
Servicer (or Trustee, if applicable) shall have no liability for any loss,
liability or expense resulting from any notice provided to each Rating Agency
contemplated by the immediately preceding sentence.

      If the Master Servicer, the Special Servicer or the Trustee, as
applicable, is reimbursed out of general collections for any unreimbursed
Advances that are determined to be Nonrecoverable Advances (together with any
interest accrued and payable thereon), then (for purposes of calculating
distributions on the Certificates) such reimbursement and payment of interest
shall be deemed to have been made: first, out of the Principal Distribution
Amount, that, but for its application to reimburse a Nonrecoverable Advance
and/or to pay interest thereon, would be included in the Available Distribution
Amount for any subsequent Distribution Date, and second, out of other amounts
that, but for their application to reimburse a Nonrecoverable Advance and/or to
pay interest thereon, would be included in the Available Distribution Amount for
any subsequent Distribution Date.

      If and to the extent that any payment is deemed to be applied as
contemplated in the paragraph above to reimburse a Nonrecoverable Advance or to
pay interest thereon, then the Principal Distribution Amount for such
Distribution Date shall be reduced, to not less than zero, by the amount of such
reimbursement. If and to the extent (i) any Advance is determined to be a
Nonrecoverable Advance, (ii) such Advance and/or interest thereon is reimbursed
out of the Principal Distribution Amount as contemplated above and (iii) the
particular item for which such Advance was originally made is subsequently
collected out of payments or other collections in respect of the related
Mortgage Loan, then the Principal Distribution Amount for the Distribution Date
that corresponds to the Collection Period in which such item was recovered shall
be increased by an amount equal to the lesser of (A) the amount of such item and
(B) any previous reduction in the Principal Distribution Amount for a prior
Distribution Date as contemplated in the paragraph above resulting from the
reimbursement of the subject Advance and/or the payment of interest thereon.

      To the extent a Nonrecoverable Advance with respect to a Mortgage Loan is
required to be reimbursed from the principal portion of the general collections
on the Mortgage Loans pursuant to this Section 3.05(a), such reimbursement shall
be made first, from the principal collections available on the Mortgage Loans
included in the same Loan Group as such Mortgage Loan and if the principal
collections in such Loan Group are not sufficient to make such reimbursement in
full, then from the principal collections available in the other Loan Group
(after giving effect to any reimbursement of Nonrecoverable Advances related to
such other Loan Group). To the extent the Principal Distribution Amount for a
Distribution Date is increased as set forth in preceding paragraph, such
increase shall be allocated first to the principal collections in the Loan Group
with respect to which the Mortgage Loan as to which the related Nonrecoverable
Advance was made does not belong, and then to the Loan Group with respect to
which the Mortgage Loan as to which the related Nonrecoverable Advance was made
does belong.

      If one or more unreimbursed Workout-Delayed Reimbursement Amounts exist,
then such Workout-Delayed Reimbursement Amounts will be reimbursable only from
amounts in the Certificate Account that represent collections of principal on
the Mortgage Loans (net of any collections of principal applied to reimbursement
of Nonrecoverable Advances or interest thereon); provided, however, that on any
Distribution Date when (1) less than 10% of the initial aggregate Stated
Principal Balance of the Mortgage Pool is outstanding and (2) the sum of the
aggregate unpaid Nonrecoverable Advances plus the aggregate unpaid
Workout-Delayed Reimbursement Amounts that have not been reimbursed to the
Master Servicer, Special Servicer or Trustee, as applicable, exceeds 20% of the
aggregate Stated Principal Balance of the Mortgage Pool then outstanding, then
the Master Servicer, the Special Servicer or the Trustee, as applicable, may
obtain reimbursement of any outstanding Workout-Delayed Reimbursement Amount
from principal collections or any other amounts in the Certificate Account,
including but not limited to interest collected on the Mortgage Loans, if
principal is not sufficient to pay such amounts; provided, further, however,
that the foregoing shall not in any manner limit the right of the Master
Servicer, the Special Servicer or the Trustee, as applicable, to choose
voluntarily to seek reimbursement of Workout-Delayed Reimbursement Amounts
solely from collections of principal. The Master Servicer, the Special Servicer
or the Trustee, as applicable, will give each Rating Agency three weeks prior
notice of its intent to obtain reimbursement of Workout-Delayed Reimbursement
Amounts from interest collections as described in the preceding sentence.

      If the Master Servicer, the Special Servicer or the Trustee, as
applicable, is reimbursed out of general collections for any Workout-Delayed
Reimbursement Amounts, then (for purposes of calculating distributions on the
Certificates) such reimbursement and payment of interest shall be deemed to have
been made: first, out of the Principal Distribution Amount, that, but for its
application to reimburse a Workout-Delayed Reimbursement Amount, would be
included in the Available Distribution Amount for any subsequent Distribution
Date, and second, out of other amounts that, but for their application to
reimburse a Workout-Delayed Reimbursement Amount, would be included in the
Available Distribution Amount for any subsequent Distribution Date.

      If and to the extent that any payment is deemed to be applied as
contemplated in the paragraph above to reimburse a Workout-Delayed Reimbursement
Amount, then the Principal Distribution Amount for such Distribution Date shall
be reduced, to not less than zero, by the amount of such reimbursement. If and
to the extent (i) such Workout-Delayed Reimbursement Amount is reimbursed out of
the Principal Distribution Amount as contemplated above and (ii) the particular
item for which such Workout-Delayed Reimbursement Amount was originally made is
subsequently collected out of payments or other collections in respect of the
related Mortgage Loan, then the Principal Distribution Amount for the
Distribution Date that corresponds to the Collection Period in which such item
was recovered shall be increased by an amount equal to the lesser of (A) the
amount of such item and (B) any previous reduction in the Principal Distribution
Amount for a prior Distribution Date as contemplated in the paragraph above
resulting from the reimbursement of the subject Workout-Delayed Reimbursement
Amount.

      To the extent a Workout-Delayed Reimbursement Amount with respect to a
Mortgage Loan is required to be reimbursed from the principal portion of the
general collections on the Mortgage Loans pursuant to clause (vii) of this
Section 3.05(a), such reimbursement shall be made first, from the principal
collections available on the Mortgage Loans included in the same Loan Group as
such Mortgage Loan and, if the principal collections in such Loan Group are not
sufficient to make such reimbursement in full, then from the principal
collections available in the other Loan Group (after giving effect to any
reimbursement of Nonrecoverable Advances related to such other Loan Group). To
the extent the Principal Distribution Amount for a Distribution Date is
increased as set forth in preceding paragraph, such increase shall be allocated
first to the principal collections in the Loan Group with respect to which the
Mortgage Loan as to which the related Workout-Delayed Reimbursement Amount was
reimbursed does not belong, and then to the Loan Group with respect to which the
Mortgage Loan as to which the related Workout-Delayed Reimbursement Amount was
reimbursed does belong.

      For the avoidance of doubt, notwithstanding anything contained in this
Agreement to the contrary, the right of any Person hereunder to recover amounts
owing with respect to a Whole Loan from the Certificate Account shall be without
duplication.

      (b) The Trustee may, from time to time, make withdrawals from the REMIC I
Distribution Account for any of the following purposes (the order set forth
below not constituting an order of priority for such withdrawals):

            (i) to be deemed to transfer from the REMIC I Distribution Account
      to the REMIC II Distribution Account on or before the related Distribution
      Date the Available Distribution Amount as provided in Section 4.01(a)(ii)
      and Prepayment Premiums to be distributed in respect of the REMIC I
      Regular Interests, as contemplated by Section 4.01(c)(i);

            (ii) to pay the Trustee accrued and unpaid Trustee Fees pursuant to
      Section 8.05(a) and to reimburse the Trustee for any other amounts to
      which it is entitled to be reimbursed from the Distribution Account
      pursuant to this Agreement;

            (iii) to pay the Trustee or any of its respective directors,
      officers, employees and agents, as the case may be, any amounts payable or
      reimbursable to any such Person pursuant to Section 8.05(b);

            (iv) as contemplated by Section 12.01(h), to pay for the reasonable
      costs of the Opinions of Counsel sought by the Trustee as contemplated by
      Section 12.01(a) or 12.01(d) in connection with any amendment to this
      Agreement requested by the Trustee, provided such amendment is in
      furtherance of the rights and interests of Certificateholders;

            (v) to pay for the reasonable costs of the Opinions of Counsel
      sought by the Trustee as contemplated by Section 12.02(a);

            (vi) to (A) pay any and all federal, state and local taxes imposed
      on REMIC I or REMIC II or on the assets or transactions of any such REMIC,
      together with all incidental costs and expenses, and any and all
      reasonable expenses relating to tax audits, if and to the extent that
      either (1) none of the Trustee, the Master Servicer, the Special Servicer
      or the REMIC Administrator is liable therefor pursuant to Section 10.01(d)
      and/or Section 10.01(h) or (2) any such Person that may be so liable has
      failed to timely make the required payment, and (B) reimburse the REMIC
      Administrator for reasonable expenses incurred by and reimbursable to it
      by the Trust pursuant to Section 10.01(d) and/or Section 10.01(h); and

            (vii) to clear and terminate the REMIC I Distribution Account at the
      termination of this Agreement pursuant to Section 9.01.

      Taxes imposed on REMIC I or REMIC II shall be allocated to the related
REMIC.

      (c) The Trustee shall be deemed to make withdrawals from the REMIC II
Distribution Account for any of the following purposes: (i) to make
distributions to Certificateholders (other than Holders of the Class V
Certificates or the Class R-I Certificates) on each Distribution Date pursuant
to Section 4.01(b), Section 4.01(c)(i) or Section 9.01, as applicable; and (ii)
to clear and terminate the REMIC II Distribution Account at the termination of
this Agreement pursuant to Section 9.01.

      (d) On each Distribution Date, the Trustee shall withdraw from the Excess
Liquidation Proceeds Account and deposit into the Distribution Account, for
distribution on such Distribution Date, an amount equal to the lesser of (i) the
entire amount, if any, then on deposit in the Excess Liquidation Proceeds
Account and (ii) the excess, if any, of the aggregate amount distributable on
such Distribution Date pursuant to Section 4.01(a) and Section 4.01(b), over the
Available Distribution Amount for such Distribution Date (calculated without
regard to such transfer from the Excess Liquidation Proceeds Account to the
Distribution Account); provided that on the Business Day prior to the Final
Distribution Date, the Trustee shall withdraw from the Excess Liquidation
Proceeds Account and deposit into the Distribution Account, for distribution on
such Distribution Date, any and all amounts then on deposit in the Excess
Liquidation Proceeds Account.

      (e) The Trustee, the Depositor, the Master Servicer and the Special
Servicer shall in all cases have a right prior to the Certificateholders to any
particular funds on deposit in the Certificate Account and the Distribution
Account from time to time for the reimbursement or payment of compensation,
Advances (with interest thereon at the Reimbursement Rate) and their respective
expenses hereunder, but only if and to the extent such compensation, Advances
(with interest) and expenses are to be reimbursed or paid from such particular
funds on deposit in the Certificate Account or the Distribution Account pursuant
to the express terms of this Agreement.

      (f) [Reserved.]

      (g) If any Loss of Value Payments are deposited into the Loss of Value
Reserve Fund with respect to any Loan or any related REO Property, then the
Special Servicer shall, promptly when needed, transfer such Loss of Value
Payments (up to the remaining portion thereof) from the Loss of Value Reserve
Fund to the Master Servicer for deposit into the Certificate Account for the
following purposes:

            (i) to reimburse the Master Servicer, the Special Servicer or the
      Trustee, in accordance with Section 3.05(a), for any Nonrecoverable
      Advance made by such party with respect to such Loan or any related REO
      Property (together with interest thereon);

            (ii) to pay, in accordance with Section 3.05(a), or to reimburse the
      Trust for the prior payment of, any expense relating to such Loan or any
      related REO Property that constitutes or, if not paid out of such Loss of
      Value Payments, would constitute an Additional Trust Fund Expense;

            (iii) to offset any Realized Loss (as calculated without regard to
      the application of such Loss of Value Payments) incurred with respect to
      such Loan or any successor REO Serviced Loan with respect thereto;

            (iv) following the occurrence of a liquidation event or other
      disposition with respect to such Mortgage Loan or any related REO
      Property, to cover the items contemplated by the immediately preceding
      clauses (i) through (iii) in respect of any other Loan or REO Serviced
      Loan; and

            (v) on the final Distribution Date after all distributions have been
      made as set forth in clauses (i) through (iv) above, to the related
      Mortgage Loan Seller to offset any Realized Losses (net of any amount
      contributed by such Mortgage Loan Seller that was used pursuant to clauses
      (i) through (iv).

      Any Loss of Value Payments transferred to the Certificate Account pursuant
to clauses (i) through (iii) of the prior paragraph shall, except for purposes
of Section 3.11(c), be deemed to constitute Liquidation Proceeds received by the
Trust in respect of the related Loan or any successor REO Serviced Loan with
respect thereto for which such Loss of Value Payments were received; and any
Loss of Value Payments transferred to the Certificate Account pursuant to clause
(iv) of the prior paragraph shall, except for purposes of Section 3.11(c), be
deemed to constitute Liquidation Proceeds received by the Trust in respect of
the Loan or REO Serviced Loan for which such Loss of Value Payments are being
transferred to the Certificate Account to cover an item contemplated by clauses
(i) through (iii) of the prior paragraph.

      On the Business Day immediately prior to the Master Servicer Remittance
Date related to the final Distribution Date, the Special Servicer shall withdraw
from the Loss of Value Reserve Fund and transfer to the Master Servicer, for
deposit in the Certificate Account, any Loss of Value Payments remaining on
deposit in the Loss of Value Reserve Fund. Such Loss of Value Payments so
deposited in the Certificate Account shall constitute part of the Available
Distribution Amount for the final Distribution Date, to the extent needed to
distribute to the Holders of the REMIC II Regular Certificates in accordance
with Section 9.01, all interest then payable thereto, together with the
aggregate Certificate Balance of, and all loss reimbursement amounts for such
final Distribution Date in respect of, the respective Classes of the REMIC II
Regular Certificates, and otherwise shall be distributable to the Holders of the
Residual Certificates on the final Distribution Date.

      Section 3.06  Investment of Funds in the Certificate Account, the
Interest Reserve Account, the Excess Interest Distribution Account, the REMIC I
Distribution Account, the REMIC II Distribution Account, the Excess Liquidation
Proceeds Account and the REO Account.

      (a) The Master Servicer may direct any depository institution maintaining
the Certificate Account, the Servicing Account and the Interest Reserve Account,
the Special Servicer may direct any depository institution maintaining each REO
Account, and the Trustee may direct any depository institution maintaining the
REMIC I Distribution Account, the REMIC II Distribution Account, the Excess
Interest Distribution Account and the Excess Liquidation Proceeds Account to
invest, or if it is such depository institution, may itself invest, the funds
held therein (each such account, for purposes of this Section 3.06, an
"Investment Account") only in one or more Permitted Investments bearing interest
or sold at a discount, and maturing, unless payable on demand, no later than the
Business Day immediately preceding the next succeeding date on which such funds
are required to be withdrawn from such account pursuant to this Agreement. All
such Permitted Investments shall be held to maturity, unless payable on demand,
in which case such investments may be sold at any time. Any investment of funds
in an Investment Account shall be made in the name of the Trustee for the
benefit of the Certificateholders. The Master Servicer (with respect to
Permitted Investments of amounts in the Certificate Account, the Interest
Reserve Account and the Servicing Account) and the Special Servicer (with
respect to Permitted Investments of amounts in each REO Account), on behalf of
the Trustee for the benefit of the Certificateholders, and the Trustee (with
respect to the Excess Liquidation Proceeds Account, the REMIC I Distribution
Account, the REMIC II Distribution Account and the Excess Interest Distribution
Account), on behalf of the Certificateholders, shall (and the Trustee hereby
designates the Master Servicer, the Special Servicer or itself, as applicable,
as the Person that shall) (i) be the "entitlement holder" of any Permitted
Investment that is a "security entitlement" and (ii) maintain "control" of any
Permitted Investment that is either a "certificated security" or an
"uncertificated security". For purposes of this Section 3.06(a), the terms
"entitlement holder", "security entitlement", "control", "certificated security"
and "uncertificated security" shall have the meanings given such terms in
Revised Article 8 (1994 Revision) of the UCC, and "control" of any Permitted
Investment by the Master Servicer or the Special Servicer shall constitute
"control" by a Person designated by, and acting on behalf of, the Trustee for
purposes of Revised Article 8 (1994 Revision) of the UCC. If amounts on deposit
in an Investment Account are at any time invested in a Permitted Investment
payable on demand, the Master Servicer (in the case of the Certificate Account,
the Interest Reserve Account and the Servicing Account) or the Special Servicer
(in the case of each REO Account) and the Trustee (in the case of the Excess
Interest Distribution Account, the Excess Liquidation Proceeds Account, the
REMIC I Distribution Account and the REMIC II Distribution Account) shall:

            (i) consistent with any notice required to be given thereunder,
      demand that payment thereon be made on the last day such Permitted
      Investment may otherwise mature hereunder in an amount equal to the lesser
      of (1) all amounts then payable thereunder and (2) the amount required to
      be withdrawn on such date; and

            (ii) demand payment of all amounts due thereunder promptly upon
      determination by the Master Servicer, the Special Servicer or the Trustee,
      as the case may be, that such Permitted Investment would not constitute a
      Permitted Investment in respect of funds thereafter on deposit in the
      Investment Account.

      (b) Whether or not the Master Servicer directs the investment of funds in
the Certificate Account, the Interest Reserve Account and the Servicing Account,
interest and investment income realized on funds deposited therein, to the
extent of the Net Investment Earnings, if any, for each such Investment Account
for each Collection Period, shall be for the sole and exclusive benefit of the
Master Servicer and shall be subject to its withdrawal in accordance with
Section 3.05(a) or Section 3.05(f), as applicable. Whether or not the Special
Servicer directs the investment of funds in each REO Account, interest and
investment income realized on funds deposited therein, to the extent of the Net
Investment Earnings, if any, for such Investment Account for each Collection
Period, shall be for the sole and exclusive benefit of the Special Servicer and
shall be subject to its withdrawal in accordance with Section 3.16(b). Whether
or not the Trustee directs the investment of funds in the Excess Interest
Distribution Account, the Excess Liquidation Proceeds Account, the REMIC I
Distribution Account and the REMIC II Distribution Account, interest and
investment income realized on funds deposited therein, to the extent of Net
Investment Earnings, if any, for each such Investment Account for each
Collection Period, shall be for the sole and exclusive benefit of the Trustee
and shall be subject to withdrawal by the Trustee. If any loss shall be incurred
in respect of any Permitted Investment on deposit in any Investment Account, the
Master Servicer (in the case of the Certificate Account, the Interest Reserve
Account and the Servicing Account (with respect to funds invested by the Master
Servicer for its own account), the Special Servicer (in the case of each REO
Account) and the Trustee (in the case of the Excess Interest Distribution
Account, the Excess Liquidation Proceeds Account, the REMIC I Distribution
Account and the REMIC II Distribution Account) shall promptly deposit therein
from its own funds, without right of reimbursement, no later than the end of the
Collection Period during which such loss was incurred, the amount of the Net
Investment Loss, if any, for such Collection Period. The Trustee shall have no
liability whatsoever with respect to any such losses, except in respect to
losses incurred in respect of any Permitted Investment on deposit in the Excess
Interest Distribution Account, the Excess Liquidation Proceeds Account, the
REMIC I Distribution Account and the REMIC II Distribution Account; and to the
extent that it is the obligor on any such Permitted Investment.

      (c) Except as otherwise expressly provided in this Agreement, if any
default occurs in the making of a payment due under any Permitted Investment, or
if a default occurs in any other performance required under any Permitted
Investment and the Master Servicer or the Special Servicer, as applicable, has
not taken such action, the Trustee may and, subject to Section 8.02, upon the
request of Holders of Certificates entitled to not less than 25% of the Voting
Rights allocated to any Class, shall take such action as may be appropriate to
enforce such payment or performance, including, without limitation, the
institution and prosecution of appropriate proceedings.

      (d) Notwithstanding the investment of funds held in any Investment
Account, for purposes of the calculations hereunder, including, without
limitation, the calculation of the Available Distribution Amount and the Master
Servicer Remittance Amount, the amounts so invested (but not any interest earned
thereon) shall be deemed to remain on deposit in such Investment Account.

      Section 3.07  Maintenance of Insurance Policies; Errors and Omissions
and Fidelity Coverage.

      (a) In the case of each Serviced Loan, the Master Servicer shall use
reasonable efforts consistent with the Servicing Standard to cause each
Mortgagor to maintain, and, if the Mortgagor does not so maintain, the Master
Servicer will itself cause to be maintained, for each Mortgaged Property
(including each Mortgaged Property relating to any Specially Serviced Loan) all
insurance coverage as is required, subject to applicable law, under the related
loan documents; provided that, if and to the extent that any such loan documents
permit the holder thereof any discretion (by way of consent, approval or
otherwise) as to the insurance coverage that the related Mortgagor is required
to maintain, the Master Servicer shall exercise such discretion in a manner
consistent with the Servicing Standard and, prior to the date such existing
insurance expires or is required to be renewed, the Master Servicer may, to the
extent consistent with the Servicing Standard, take into account insurance in
place at loan origination, with a view towards requiring insurance comparable to
that required under other Serviced Loans with express provisions governing such
matters and including business interruption or rental loss insurance for at
least 12 months; and provided, further, that the Master Servicer shall be
required to maintain such insurance coverage upon the related Mortgagor's
failure to do so only to the extent that such insurance is available at
commercially reasonable rates and the Trustee, on behalf of the Trust, as
mortgagee has an insurable interest. Subject to Section 3.17(b), the Special
Servicer shall also cause to be maintained for each REO Property (other than
with respect to any REO Property related to a Non-Serviced Mortgage Loan) no
less insurance coverage (to the extent available at commercially reasonable
rates) (A) than was previously required of the related Mortgagor under the
related loan documents and (B), at a minimum, (i) hazard insurance with a
replacement cost rider, (ii) business interruption or rental loss insurance for
at least 12 months, and (iii) commercial general liability insurance, in each
case, in an amount customary for the type and geographic location of such REO
Property and consistent with the Servicing Standard; provided that all such
insurance required to be maintained by Master Servicer or Special Servicer shall
be obtained from Qualified Insurers that, in each case, shall have a financial
strength or claims-paying rating no lower than two rating categories below the
highest rated Certificates outstanding, and in any event no lower than "A" from
Fitch and "A" from S&P (or in such other form and amount or issued by an insurer
with such other financial strength or claims-paying ability as would not, as
confirmed in writing by the relevant Rating Agency, result in an Adverse Rating
Event. All such insurance policies shall contain (if they insure against loss to
property) a "standard" mortgagee clause, with loss payable to the Master
Servicer on behalf of the Trustee (in the case of insurance maintained in
respect of the Mortgage Loans), or shall name the Trustee as the insured, with
loss payable to the Special Servicer on behalf of the Trustee (in the case of
insurance maintained in respect of REO Properties), and shall be issued by an
insurer authorized under applicable law to issue such insurance, and, unless
prohibited by the related Mortgage, may contain a deductible clause (not in
excess of a customary amount). Any amounts collected by the Master Servicer or
Special Servicer under any such policies (other than amounts to be applied to
the restoration or repair of the related Mortgaged Property or REO Property or
amounts to be released to the related Mortgagor, in each case in accordance with
the Servicing Standard) shall be deposited into the Certificate Account, subject
to withdrawal pursuant to Section 3.05(a), or Section 3.05(f), as applicable in
the case of amounts received in respect of a Serviced Loan, or in the applicable
REO Account, subject to withdrawal pursuant to Section 3.16(c), in the case of
amounts received in respect of an REO Property. Any cost incurred by the Master
Servicer or Special Servicer in maintaining any such insurance shall not, for
purposes hereof, including calculating monthly distributions to
Certificateholders, be added to unpaid principal balance or Stated Principal
Balance of the related Serviced Loan, notwithstanding that the terms of such
Serviced Loan so permit; provided, however, that this sentence shall not limit
the rights of the Master Servicer or Special Servicer on behalf of the Trust to
enforce any obligations of the related Mortgagor under such Serviced Loan. Costs
to the Master Servicer or Special Servicer of maintaining insurance policies
pursuant to this Section 3.07 shall be paid by and reimbursable to the Master
Servicer or the Special Servicer, as the case may be, as a Servicing Advance.

      If the related loan documents specifically and expressly set forth terms
requiring insurance coverage against terrorist or similar acts for a Serviced
Loan, then the Master Servicer and the Special Servicer shall enforce the terms
of the related loan documents in accordance with the Servicing Standard, and if
the Mortgagor fails to maintain such insurance, such failure shall constitute a
Servicing Transfer Event. To the extent the loan documents do not set forth
specific terms requiring insurance coverage against terrorist or similar acts
and a Serviced Loan (x) requires a Mortgagor to maintain insurance policies
covering some or all of the risks contained in the Additional Exclusions or (y)
in accordance with the Servicing Standard, the Master Servicer has determined
(in consultation with the Special Servicer and the Directing Certificateholder)
that the loan documents permit the lender to require the Mortgagor to maintain
insurance policies covering some or all the risks contained in the Additional
Exclusions (the covered risks required to be covered or that the lender has the
discretion to require to be covered being referred to as "Covered Risks"), the
Master Servicer shall use reasonable efforts in accordance with the Servicing
Standard to determine whether, upon renewal of the Mortgagor's property or
casualty insurance (including any all risk insurance policy), any of the Covered
Risks are excluded from coverage. If any of the Covered Risks are determined by
the Master Servicer to be excluded from coverage, the Master Servicer shall
request the Mortgagor to either (i) purchase insurance acceptable to the Master
Servicer in accordance with the Servicing Standard and in accordance with the
related loan documents covering such Covered Risks or (ii) provide a written
explanation as to its reasons for failing to purchase such insurance.
Notwithstanding the foregoing, with the written consent of the Special Servicer
in accordance with the Servicing Standard the Master Servicer may waive the
requirement to procure insurance covering any of the Covered Risks if the Master
Servicer determines in accordance with the Servicing Standard that (1) insurance
covering any such Covered Risks is not available at a commercially reasonable
price, or (2) based on information reasonably available to the Master Servicer,
after due inquiry, any such Covered Risks are at that time not commonly insured
against for properties similar to the Mortgaged Property and located in or
around the region in which the Mortgaged Property is located unless the Stated
Principal Balance of the Serviced Loan is greater than $20,000,000. If the
Stated Principal Balance of the Serviced Loan is greater than $20,000,000, then
the Master Servicer must determine that the circumstances in both clauses (1)
and (2) of the immediately preceding sentence apply prior to waiving the
Mortgagor's requirement to procure insurance with respect to any Covered Risks.
If the Special Servicer fails to give a response to the Master Servicer as
referenced in the second preceding sentence within ten Business Days of the
Master Servicer initially notifying the Special Servicer in writing of such
request, the Master Servicer shall promptly notify the Directing
Certificateholder of such failure of the Special Servicer to respond to such
request. If the Directing Certificateholder and/or the Special Servicer have not
responded to the Master Servicer within ten Business Days of the notice
referenced in the immediately preceding sentence, the Master Servicer shall
determine in accordance with the Servicing Standard whether to require (or not
require) the Mortgagor to maintain such insurance; provided, that during the
period that the Special Servicer and/or the Directing Certificateholder are
evaluating such insurance, none of the Master Servicer, the Special Servicer
and/or the Directing Certificateholder shall be liable for any loss related to
its failure to require a Mortgagor to maintain terrorism insurance and shall not
be in default of its obligations hereunder as a result of such failure. If the
Master Servicer requires the Mortgagor to maintain such insurance and the
Mortgagor fails to maintain such insurance, to the extent such insurance is then
reasonably available, the Master Servicer shall then procure such insurance in
accordance with the Servicing Standard and such failure by the Mortgagor shall
constitute a Servicing Transfer Event. For purposes of computing whether the
$20,000,000 threshold described herein is met for a particular Serviced Loan, if
a Serviced Loan is secured by multiple Mortgaged Properties, then the amount
subject to the $20,000,000 threshold shall be the portion of the Stated
Principal Balance of the related Serviced Loan pro rated based on an individual
Mortgaged Property's appraised value as a percentage of the total appraised
value of all of the related Mortgaged Properties.

      (b) If the Master Servicer or the Special Servicer shall obtain and
maintain, or cause to be obtained and maintained, a blanket policy or master
force placed policy insuring against hazard losses on all of the Serviced Loans
or REO Properties, as applicable, that it is required to service and administer
hereunder, then, to the extent such policy (i) is obtained from a Qualified
Insurer having a financial strength or claims-paying rating no lower than "A"
from Fitch and "A" from S&P or having such other financial strength or
claims-paying ability rating as would not, as confirmed in writing by the
relevant Rating Agency, result in an Adverse Rating Event and (ii) provides
protection equivalent to the individual policies otherwise required, the Master
Servicer or Special Servicer, as the case may be, shall conclusively be deemed
to have satisfied its obligation to cause hazard insurance to be maintained on
the related Mortgaged Properties or REO Properties, as applicable. Such policy
may contain a deductible clause (not in excess of a customary amount), in which
case the Master Servicer or the Special Servicer, as appropriate, shall, if
there shall not have been maintained on the related Mortgaged Property or REO
Property a hazard insurance policy complying with the requirements of Section
3.07(a), and there shall have been one or more losses that would have been
covered by such an individual policy, promptly deposit into the Certificate
Account from its own funds the amount not otherwise payable under the blanket or
master force placed policy in connection with such loss or losses because of
such deductible clause to the extent that any such deductible exceeds the
deductible limitation that pertained to the related Serviced Loan (or, in the
absence of any such deductible limitation, the deductible limitation for an
individual policy that is consistent with the Servicing Standard). The Master
Servicer or the Special Servicer, as appropriate, shall prepare and present, on
behalf of itself, the Trustee and the Certificateholders claims under any such
blanket or master forced placed policy in a timely fashion in accordance with
the terms of such policy.

      (c) Each of the Master Servicer and the Special Servicer shall at all
times during the term of this Agreement (or, in the case of the Special
Servicer, at all times during the term of this Agreement during which Specially
Serviced Loans or REO Properties for which it is responsible exist as part of
the Trust Fund) keep in force with a Qualified Insurer having a financial
strength or claims-paying rating no lower than two rating categories below the
highest rated Certificates outstanding, and in any event no lower than "A" from
Fitch and "A" from S&P, a fidelity bond in such form and amount as would permit
it to be a qualified Fannie Mae seller-servicer of multifamily mortgage loans
(or in such other form and amount or issued by an insurer with such other
financial strength or claims-paying ability rating as would not result in an
Adverse Rating Event with respect to any Class of Rated Certificates (as
confirmed in writing to the Trustee by the relevant Rating Agency). Each of the
Master Servicer and the Special Servicer shall be deemed to have complied with
the foregoing provision if an Affiliate thereof has such fidelity bond coverage
and, by the terms of such fidelity bond, the coverage afforded thereunder
extends to the Master Servicer or the Special Servicer, as the case may be. Such
fidelity bond shall provide that it may not be canceled without ten days' prior
written notice to the Trustee.

      Each of the Master Servicer and the Special Servicer shall at all times
during the term of this Agreement (or, in the case of the Special Servicer, at
all times during the term of this Agreement during which Specially Serviced
Loans and/or REO Properties for which it is responsible exist as part of the
Trust Fund) also keep in force with a Qualified Insurer having a financial
strength or claims-paying rating no lower than two rating categories below the
highest rated Certificates outstanding, and in any event no lower than "A" from
Fitch and "A" from S&P, a policy or policies of insurance covering loss
occasioned by the errors and omissions of its officers and employees in
connection with its servicing obligations hereunder, which policy or policies
shall be in such form and amount as would permit it to be a qualified Fannie Mae
seller-servicer of multifamily mortgage loans (or in such other form and amount
or issued by an insurer with such other financial strength or claims-paying
rating as would not result in an Adverse Rating Event with respect to any Class
of Rated Certificates (as confirmed in writing to the Trustee by the relevant
Rating Agency). Each of the Master Servicer and the Special Servicer shall be
deemed to have complied with the foregoing provisions if an Affiliate thereof
has such insurance and, by the terms of such policy or policies, the coverage
afforded thereunder extends to the Master Servicer or the Special Servicer, as
the case may be. Any such errors and omissions policy shall provide that it may
not be canceled without ten days' prior written notice to the Trustee. So long
as the long-term unsecured debt obligations of the Master Servicer or the
Special Servicer (or its direct or indirect parent company), as applicable, are
rated not lower than "A" from Fitch and "A" from S&P, the Master Servicer or
Special Servicer, as applicable, may self-insure with respect to either or both
of the fidelity bond coverage and the errors and omissions coverage required as
described above, in which case it shall not be required to maintain an insurance
policy with respect to such coverage.

      Section 3.08  Enforcement of Alienation Clauses.

      (a) As to each Serviced Loan that contains a provision in the nature of a
(i) "due-on-sale" clause (which includes, without limitation, sales or transfers
of the Mortgaged Property (in full or in part) or the sale, transfer, pledge or
hypothecation of direct or indirect interest in the related Borrower or its
owners), which by its terms (1) provides that such Serviced Loan shall (or may
at the mortgagee's option) become due and payable upon the sale or other
transfer of an interest in the related Mortgaged Property or of a controlling
interest in the related Mortgagor; (2) provides that such Serviced Loan may not
be assumed without the consent of the mortgagee or satisfaction of certain
conditions in connection with any such sale or other transfer, for so long as
such Serviced Loan is included in the Trust Fund or (3) provides that such
Serviced Loan may be assumed or transferred without the consent of the mortgagee
provided that certain conditions set forth in the related loan documents are
satisfied, or (ii) as to each Serviced Loan that contains a provision in the
nature of a "due-on-encumbrance" clause (including, without limitation, any
mezzanine financing of the related Borrower or the related Mortgaged Property or
any sale or transfer of preferred equity in such Borrower or its direct or
indirect owners), that by its terms: (1) provides that such Serviced Loan shall
(or may at the mortgagee's option) become due and payable upon the creation of
any additional lien or other encumbrance on the related Mortgaged Property; (2)
requires the consent of the mortgagee or satisfaction of certain conditions to
the creation of any such additional lien or other encumbrance on the related
Mortgaged Property; or (3) provides that such Serviced Loan may be further
encumbered provided that certain conditions set forth in the loan documents have
been satisfied, each of the Master Servicer and the Special Servicer shall, on
behalf of the Trustee as the mortgagee of record, as to those Serviced Loans it
is obligated to service hereunder, exercise (or waive its right to exercise) any
right it may have with respect to such Serviced Loan (x) to accelerate the
payments thereon, (y) to withhold its consent to any such sale or other
transfer, in a manner consistent with the Servicing Standard or (z) determine
whether the conditions set forth in clauses (a)(i)(3) above have been satisfied.

      Notwithstanding anything to the contrary contained herein, neither the
Master Servicer nor the Special Servicer shall waive any right it has, or grant
any consent it is otherwise entitled to withhold, under any related
"due-on-sale" or "due-on-encumbrance" clause (including, but not limited to,
making any determination that the conditions set forth in clauses (a)(i)(3) and
(a)(ii)(3) have been satisfied), unless both the Master Servicer and the Special
Servicer shall have followed the procedures set forth for those Serviced Loans
in the manner set forth in the immediately below clauses (i) through (vi):

            (i) The Master Servicer shall not waive any right it has, or grant
      any consent that it may otherwise withhold under any related "due-on-sale"
      or "due-on-encumbrance" clause (including, but not limited to, making any
      determination that the conditions set forth in clauses (a)(i)(3) and
      (a)(ii)(3) have been satisfied) without first obtaining the consent of the
      Special Servicer. The Special Servicer's consent shall be deemed given if
      the Master Servicer shall have provided the Special Servicer written
      notice of the matter together with all of the information set forth in the
      immediately succeeding sentence and all information reasonably requested
      by the Special Servicer and the Special Servicer shall not have responded
      in writing, via fax or e mail within 15 Business Days of such request
      (subject to any extensions of applicable time periods required if the
      Special Servicer is required by this Agreement to seek the consent of
      other third parties). In connection with the request set forth above, the
      Master Servicer shall provide to the Special Servicer written notice of
      the matter, a written explanation of the surrounding circumstances, such
      additional information as the Special Servicer shall reasonably request
      and a request for approval by the Special Servicer.

            (ii) The Special Servicer shall not waive any right it has, or grant
      any consent that it may otherwise withhold under any related "due-on-sale"
      or "due-on-encumbrance" clause without obtaining the consent of the
      Directing Certificateholder for (a) any Non-Partitioned Loan that is a
      Performing Serviced Loan or (b) for any Specially Serviced Loan that is a
      Non-Partitioned Loan. Consent by the Directing Certificateholder shall be
      deemed given if the Special Servicer shall have provided the Directing
      Certificateholder written notice of the matter together with all of the
      information set forth in the immediately succeeding sentence and the
      Directing Certificateholder shall not have responded in writing, via fax
      or e mail within ten Business Days of such request. In connection with the
      request set forth above, the Special Servicer shall provide to the
      Directing Certificateholder written notice of the matter, a written
      explanation of the surrounding circumstances, such additional information
      as the Directing Certificateholder shall reasonably request and a request
      for approval by the Directing Certificateholder.

            (iii) Notwithstanding anything to the contrary contained herein, the
      Master Servicer shall not permit transfer, assumption or further
      encumbrance of such Serviced Loan if the Special Servicer, in accordance
      with the Servicing Standard, (a) notifies the Master Servicer of its
      determination with respect to any Serviced Loan (which by its terms
      permits the transfer, assumption or further encumbrance without mortgagee
      consent provided certain conditions are satisfied and the determination as
      to whether any such conditions are satisfied would require the mortgagee
      to exercise the judgment of a reasonable prudent commercial lender) that
      the conditions required under the related loan documents have not been
      satisfied or (b) objects in writing to the Master Servicer's determination
      that such conditions have been satisfied with respect to any such Serviced
      Loan.

            (iv) [Reserved].

            (v) Notwithstanding the foregoing, solely with respect to the
      consent or waiver of any "due-on-sale" clause as described in Section
      3.08(a), if any Mortgage Loan with an outstanding principal balance of
      greater than $5,000,000 (other than with respect to any Non-Serviced
      Mortgage Loan, which is governed by the related Non-Serviced Mortgage Loan
      Pooling Agreement):

                  (1) represents greater than 5% of the then outstanding
            principal balance of the Mortgage Pool;

                  (2) has an outstanding principal balance of greater than
            $20,000,000; or

                  (3) is one of the ten largest Mortgage Loans in the Trust Fund
            based on outstanding principal balance,

then neither the Master Servicer nor Special Servicer shall waive any right it
has, or grant any consent it is otherwise entitled to withhold, under any
related "due-on-sale" clause until it has received written confirmation from
each Rating Agency that such action would not result in the qualification (if
applicable), downgrade or withdrawal of the rating then assigned by such Rating
Agency to any Class of Certificates.

            (vi) Notwithstanding the foregoing, solely with respect to the
      consent or waiver of any "due-on-encumbrance" clause as described in
      Section 3.08(a), if any Mortgage Loan:

                  (1) represents greater than 2% of the then outstanding
            principal balance of the Mortgage Pool, or

                  (2) is at the time one of the ten largest Mortgage Loans (by
            outstanding principal balance) in the Mortgage Pool or has an
            outstanding principal balance of greater than $20,000,000, or

                  (3) after taking into consideration any additional
            indebtedness secured by the related Mortgaged Property, the
            loan-to-value ratio for such Mortgage Loan would be greater than 85%
            or the debt service coverage ratio would be less than 1.20x,

then neither the Master Servicer nor the Special Servicer, as the case may be,
shall waive any right it has, or grant any consent it is otherwise entitled to
withhold, under any related "due-on-encumbrance" clause governing the transfer
of any Mortgaged Property that secures, or controlling interests in any
Mortgagor under, a Cross-Collateralized Group unless the Master Servicer or
Special Servicer, as applicable, shall have obtained written confirmation from
each Rating Agency that such action shall not result in a qualification (if
applicable), downgrade or withdrawal of the rating then assigned by such Rating
Agency to any Class of Certificates.

            (vii) In the event that the Master Servicer or Special Servicer
      intends or is required, in accordance with the preceding clauses, by the
      loan documents or applicable law, to permit the transfer of any Mortgaged
      Property, the Master Servicer or the Special Servicer, as the case may be,
      may, if consistent with the Servicing Standard, enter into a substitution
      of liability agreement, pursuant to which the original Mortgagor and any
      original guarantors are released from liability, and the transferee and
      any new guarantors are substituted therefor and become liable under the
      Mortgage Note and any related guaranties and, in connection therewith, may
      require from the related Mortgagor a reasonable and customary fee for the
      additional services performed by it, together with reimbursement for any
      related costs and expenses incurred by it. In addition, the Master
      Servicer or the Special Servicer, as the case may be, if consistent with
      the Servicing Standard, shall require as a condition of its approval that
      the related Mortgagor pay all costs associated with such transfer. The
      Master Servicer or the Special Servicer, as the case may be, shall
      promptly notify the Trustee in writing of any such agreement and forward
      the original thereof to the Trustee for inclusion in the related Mortgage
      File.

      (b) In connection with any permitted assumption of any Serviced Loan or
waiver of a "due-on-sale" or "due-on-encumbrance" clause thereunder, the Master
Servicer (in the case of a Performing Serviced Loan) or the Special Servicer (in
the case of a Specially Serviced Loan) shall prepare all documents necessary and
appropriate for such purposes and shall coordinate with the related Mortgagor
for the due execution and delivery of such documents.

      (c) If the Master Servicer or the Special Servicer collects an assumption
fee or an assumption application fee in connection with any transfer or proposed
transfer of any interest in a Mortgagor or a Mortgaged Property, then the Master
Servicer or the Special Servicer, as applicable, will apply that fee to cover
the costs and expenses associated with that transfer or proposed transfer that
are not otherwise paid by the related Mortgagor and that would otherwise be
payable or reimbursable out of the Trust Fund, including any Rating Agency fees
and expenses. Any remaining portion of such assumption fee (such remaining
portion, a "Net Assumption Fee") or of such assumption application fee (such
remaining portion, a "Net Assumption Application Fee") will be applied as
additional compensation to the Master Servicer or the Special Servicer in
accordance with Section 3.11.

      Section 3.09  Realization Upon Defaulted Serviced Loans.

      (a) The Special Servicer shall, subject to Sections 3.09(b), 3.09(c), and
3.09(d), exercise reasonable efforts, consistent with the Servicing Standard, to
foreclose upon or otherwise comparably convert the ownership of properties and
other collateral securing such of the Serviced Loans as come into and continue
in default and as to which no satisfactory arrangements can be made for
collection of delinquent payments, including pursuant to Section 3.20; provided
that neither the Master Servicer nor the Special Servicer shall, with respect to
any ARD Loan after its Anticipated Repayment Date, take any enforcement action
with respect to the payment of Excess Interest (other than the making of
requests for its collection) unless (i) the taking of an enforcement action with
respect to the payment of other amounts due under such Serviced Loan is, in the
good faith and reasonable judgment of the Special Servicer, and without regard
to such Excess Interest, also necessary, appropriate and consistent with the
Servicing Standard, or (ii) all other amounts due under such Serviced Loan have
been paid, the payment of such Excess Interest has not been forgiven in
accordance with Section 3.20 and, in the good faith and reasonable judgment of
the Special Servicer, the Liquidation Proceeds expected to be recovered in
connection with such enforcement action will cover the anticipated costs of such
enforcement action and, if applicable, any associated Advance Interest. In
connection with the foregoing, in the event of a default under any Serviced Loan
or Cross-Collateralized Group that is secured by real properties located in
multiple states, and such states include California or another state with a
statute, rule or regulation comparable to California's "one action rule", then
the Special Servicer shall consult Independent counsel regarding the order and
manner in which the Special Servicer should foreclose upon or comparably proceed
against such properties. The reasonable costs of such consultation shall be paid
by, and reimbursable to, the Master Servicer as a Servicing Advance. In
addition, all other costs and expenses incurred in any foreclosure sale or
similar proceeding shall be paid by, and reimbursable to, the Special Servicer
as a Servicing Advance. Nothing contained in this Section 3.09 shall be
construed so as to require the Special Servicer, on behalf of the Trust, to make
a bid on any Mortgaged Property at a foreclosure sale or similar proceeding that
is in excess of the fair market value of such property, as determined by such
Special Servicer taking into account the factors described in Section 3.18 and
the results of any Appraisal obtained pursuant to the following sentence or
otherwise, all such cash bids to be made in a manner consistent with the
Servicing Standard. If and when the Special Servicer deems it necessary in
accordance with the Servicing Standard for purposes of establishing the fair
market value of any Mortgaged Property securing a Defaulted Serviced Loan,
whether for purposes of bidding at foreclosure or otherwise, the Special
Servicer is authorized to have an Appraisal completed with respect to such
property (the cost of which appraisal shall be covered by, and be reimbursable
as, a Servicing Advance).

      (b) Notwithstanding any other provision of this Agreement, no Mortgaged
Property shall be acquired by the Special Servicer on behalf of the Trust under
such circumstances, in such manner or pursuant to such terms as would (i) cause
such Mortgaged Property to fail to qualify as "foreclosure property" within the
meaning of Section 860G(a)(8) of the Code (unless the portion of such REO
Property that is not treated as "foreclosure property" and that is held by REMIC
I or any REMIC that holds a Companion Loan at any given time constitutes not
more than a de minimis amount of the assets of such REMIC within the meaning of
Treasury Regulations Sections 1.860D-1(b)(3)(i) and (ii), or (ii) except as
permitted by Section 3.17(a), subject the Trust to the imposition of any federal
income or prohibited transaction taxes under the Code. Subject to the foregoing,
however, a Mortgaged Property may be acquired through a single member limited
liability company. In addition, except as permitted under Section 3.17, the
Special Servicer shall not acquire any personal property on behalf of the Trust
pursuant to this Section 3.09 (with the exception of cash or cash equivalents
pledged as collateral for a Serviced Loan) unless either:

            (i) such personal property is incident to real property (within the
      meaning of Section 856(e)(1) of the Code) so acquired by the Special
      Servicer; or

            (ii) the Special Servicer shall have obtained an Opinion of Counsel
      (the cost of which shall be covered by, and reimbursable as, a Servicing
      Advance) to the effect that the holding of such personal property as part
      of the Trust Fund will not cause either of REMIC I or REMIC II to fail to
      qualify as a REMIC at any time that any Certificate is outstanding or,
      subject to Section 3.17, cause the imposition of a tax on the Trust under
      the REMIC Provisions.

      (c) Notwithstanding the foregoing provisions of this Section 3.09, neither
the Master Servicer nor the Special Servicer shall, on behalf of the Trust,
obtain title to a Mortgaged Property by foreclosure, deed-in-lieu of foreclosure
or otherwise, or take any other action with respect to any Mortgaged Property,
if, as a result of any such action, the Trustee, on behalf of the
Certificateholders, could, in the reasonable, good faith judgment of the Special
Servicer, exercised in accordance with the Servicing Standard, be considered to
hold title to, to be a "mortgagee-in-possession" of, or to be an "owner" or
"operator" of such Mortgaged Property within the meaning of CERCLA or any
comparable law, unless:

            (i) the Special Servicer has previously determined in accordance
      with the Servicing Standard, based on a Phase I Environmental Assessment
      (and any additional environmental testing that the Special Servicer deems
      necessary and prudent) of such Mortgaged Property conducted by an
      Independent Person who regularly conducts Phase I Environmental
      Assessments and performed during the 12-month period preceding any such
      acquisition of title or other action, that the Mortgaged Property is in
      compliance with applicable environmental laws and regulations and there
      are no circumstances or conditions present at the Mortgaged Property
      relating to the use, management or disposal of Hazardous Materials for
      which investigation, testing, monitoring, containment, clean-up or
      remediation could be required under any applicable environmental laws and
      regulations; or

            (ii) in the event that the determination described in clause (c)(i)
      above cannot be made, the Special Servicer has previously determined in
      accordance with the Servicing Standard, on the same basis as described in
      clause (c)(i) above, that it would maximize the recovery to the
      Certificateholders (as a collective whole taking into account the
      subordination of any Subordinate Interest(s)), on a net present value
      basis (the relevant discounting of anticipated collections that will be
      distributable to Certificateholders to be performed at the related Net
      Mortgage Rate) to acquire title to or possession of the Mortgaged Property
      and to take such remedial, corrective and/or other further actions as are
      necessary to bring the Mortgaged Property into compliance with applicable
      environmental laws and regulations and to appropriately address any of the
      circumstances and conditions referred to in clause (c)(i) above.

      Any such determination by the Special Servicer contemplated by clause (i)
or clause (ii) of the preceding paragraph shall be evidenced by an Officer's
Certificate to such effect delivered to the Trustee, the Master Servicer and the
Directing Certificateholder, specifying all of the bases for such determination,
such Officer's Certificate to be accompanied by all related environmental
reports. The cost of such Phase I Environmental Assessment and any such
additional environmental testing shall be advanced by the Master Servicer at the
direction of the Special Servicer given in accordance with the Servicing
Standard; provided, however, that the Master Servicer shall not be obligated in
connection therewith to advance any funds that, if so advanced, would constitute
a Nonrecoverable Servicing Advance. Amounts so advanced shall be subject to
reimbursement as Servicing Advances in accordance with Section 3.05(a). The cost
of any remedial, corrective or other further action contemplated by clause (ii)
of the preceding paragraph shall be payable out of the Certificate Account.

      (d) If neither of the conditions set forth in clauses (i) and (ii) of the
first paragraph of Section 3.09(c) has been satisfied with respect to any
Mortgaged Property securing a Defaulted Serviced Loan, the Special Servicer
shall take such action as is in accordance with the Servicing Standard (other
than proceeding against the Mortgaged Property) and, at such time as it deems
appropriate, may, on behalf of the Trust, release all or a portion of such
Mortgaged Property from the lien of the related Mortgage.

      (e) The Special Servicer shall report to the Trustee, the Master Servicer
and the Directing Certificateholder monthly in writing as to any actions taken
by the Special Servicer with respect to any Mortgaged Property as to which
neither of the conditions set forth in clauses (i) and (ii) of the first
paragraph of Section 3.09(c) has been satisfied, in each case until the earliest
to occur of satisfaction of either of such conditions, release of the lien of
the related Mortgage on such Mortgaged Property and the related Loan's becoming
a Corrected Serviced Loan.

      (f) The Special Servicer shall have the right to determine, in accordance
with the Servicing Standard, the advisability of seeking to obtain a deficiency
judgment if the state in which the Mortgaged Property is located and the terms
of the subject Serviced Loan permit such an action and shall, in accordance with
the Servicing Standard, seek such deficiency judgment if it deems advisable.

      (g) Annually in each January, commencing in January 2007, the Master
Servicer (with information provided by the Special Servicer) shall file with the
IRS, on a timely basis, the information returns with respect to the reports of
foreclosures and abandonments and reports relating to any cancellation of
indebtedness income with respect to any Specially Serviced Loans and REO
Properties (other than REO Properties related to any Non-Serviced Mortgage Loan)
required by Sections 6050H (as applicable), 6050J and 6050P of the Code.
Contemporaneously, the Master Servicer shall deliver to the Trustee an Officer's
Certificate stating that all such information returns relating to Specially
Serviced Loans and REO Properties that were required to be filed during the
prior 12 months have been properly completed and timely provided to the IRS. The
Master Servicer shall prepare and file the information returns with respect to
the receipt of any mortgage interest received in a trade or business from
individuals with respect to any Serviced Loan as required by Section 6050H of
the Code. All information returns shall be in form and substance sufficient to
meet the reporting requirements imposed by the relevant sections of the Code.

      (h) As soon as the Special Servicer makes a Final Recovery Determination
with respect to any Serviced Loan or REO Property (other than any REO Property
related to any Non-Serviced Mortgage Loan), it shall promptly notify the
Trustee, the Master Servicer and the Directing Certificateholder. The Special
Servicer shall maintain accurate records, prepared by a Servicing Officer, of
each such Final Recovery Determination (if any) and the basis thereof. Each such
Final Recovery Determination (if any) shall be evidenced by an Officer's
Certificate delivered to the Trustee and the Master Servicer no later than the
third Business Day following such Final Recovery Determination.

      Section 3.10 Trustee to Cooperate; Release of Mortgage Files.

      (a) Upon the payment in full of any Serviced Loan, or the receipt by the
Master Servicer of a notification that payment in full shall be escrowed in a
manner customary for such purposes, the Master Servicer shall immediately notify
the Trustee, and request delivery of the related Mortgage File by delivering
thereto a Request for Release in the form of Exhibit D that shall be accompanied
by the form of any release or discharge to be executed by the Trustee. Any such
Request for Release shall include a statement to the effect that all amounts
received or to be received in connection with such payment that are required to
be deposited into the Certificate Account pursuant to Section 3.04(a) have been
or will be so deposited. Upon receipt of such notice and request conforming in
all material respects to the provisions hereof, the Trustee shall promptly
release, or cause any related Custodian to release, the related Mortgage File to
the Master Servicer or Special Servicer, as applicable. If the Mortgage has been
recorded in the name of MERS or its designee, the Master Servicer shall take all
necessary action to reflect the release of the Mortgage on the records of MERS.
No expenses incurred in connection with any instrument of satisfaction or deed
of reconveyance shall be chargeable to the Certificate Account.

      (b) If from time to time, and as appropriate for servicing or foreclosure
of any Serviced Loan, the Master Servicer or the Special Servicer shall
otherwise require any Mortgage File (or any portion thereof), then, upon request
of the Master Servicer or the Special Servicer and receipt therefrom of a
Request for Release in the form of Exhibit D attached hereto signed by a
Servicing Officer thereof, the Trustee shall release, or cause any related
Custodian to release, such Mortgage File (or portion thereof) to the Master
Servicer or the Special Servicer, as the case may be. Upon return of such
Mortgage File (or portion thereof) to the Trustee or the related Custodian, or
the delivery to the Trustee of a certificate of a Servicing Officer of the
Special Servicer stating that such Serviced Loan was liquidated and that all
amounts received or to be received in connection with such liquidation that are
required to be deposited into the Certificate Account pursuant to Section
3.04(a), have been or will be so deposited, or that such Serviced Loan has
become an REO Property, the Request for Release shall be released by the Trustee
to the Master Servicer or the Special Servicer, as applicable.

      (c) Within five Business Days of the Special Servicer's request therefor
(or, if the Special Servicer notifies the Trustee of an exigency, within such
shorter period as is reasonable under the circumstances), the Trustee shall
execute and deliver to the Special Servicer, in the form supplied to the
Trustee, as applicable, by the Special Servicer, any court pleadings, requests
for trustee's sale or other documents reasonably necessary to the foreclosure or
trustee's sale in respect of a Mortgaged Property or to any legal action brought
to obtain judgment against any Mortgagor on the Mortgage Note or Mortgage or to
obtain a deficiency judgment, or to enforce any other remedies or rights
provided by the Mortgage Note or Mortgage or otherwise available at law or in
equity or to defend any legal action or counterclaim filed against the Trust,
the Master Servicer or the Special Servicer; provided that the Trustee may
alternatively execute and deliver to the Special Servicer, in the form supplied
to the Trustee by the Special Servicer, a limited power of attorney, subject to
the provisions of Section 3.01(c), issued in favor of the Special Servicer and
empowering the Special Servicer to execute and deliver any or all of such
pleadings or documents on behalf of the Trustee (however, the Trustee shall not
be liable for any misuse of such power of attorney by such Special Servicer).
Together with such pleadings or documents (or such power of attorney empowering
the Special Servicer to execute the same on behalf of the Trustee), the Special
Servicer shall deliver to the Trustee an Officer's Certificate requesting that
such pleadings or documents (or such power of attorney empowering the Special
Servicer to execute the same on behalf of the Trustee) be executed by the
Trustee and certifying as to the reason such pleadings or documents are required
and that the execution and delivery thereof by the Trustee (or by the Special
Servicer on behalf of the Trustee) will not invalidate or otherwise affect the
lien of the Mortgage, except for the termination of such a lien upon completion
of the foreclosure or trustee's sale.

      (d) Each of the Master Servicer and the Special Servicer, as applicable,
is authorized for the benefit of the Certificateholders to direct, manage,
prosecute and/or defend any and all claims and litigation relating to (a) the
enforcement of the obligations of the Borrower or guarantor under any Loan
documents and (b) any action brought by the Borrower against the Trust Fund.
Such enforcement shall be carried out in accordance with the terms of this
Agreement, including, without limitation, the Servicing Standard; it being
expressly understood that (i) the Master Servicer shall not be liable for such
enforcement by the Special Servicer and (ii) the Special Servicer shall not be
liable for such enforcement by the Master Servicer. If from time to time,
pursuant to the terms of the Desert Passage Intercreditor Agreement and the
Desert Passage Pooling Agreement, and as appropriate for enforcing the terms of
the Desert Passage Pari Passu Note A-3 Mortgage Loan, the Desert Passage Master
Servicer requests delivery to it of the original Mortgage Note for the Desert
Passage Pari Passu Note A-3 Mortgage Loan, then the Trustee shall release or
cause the release of such original Mortgage Note to the Desert Passage Master
Servicer or its designee. If from time to time, pursuant to the terms of the 277
Park Avenue Intercreditor Agreements and the 277 Park Avenue Pooling Agreement,
and as appropriate for enforcing the terms of the 277 Park Avenue Pari Passu
Note A-3 Mortgage Loan, the 277 Park Avenue Master Servicer requests delivery to
it of the original Mortgage Note for the 277 Park Avenue Pari Passu Note A-3
Mortgage Loan, then the Trustee shall release or cause the release of such
original Mortgage Note to the 277 Park Avenue Master Servicer or its designee.

      Notwithstanding the foregoing, in the event (a) of any action, suit,
litigation or proceeding naming the Trustee in its individual capacity, or in
the event that any judgment is rendered against the Trustee in its individual
capacity, the Trustee, upon prior written notice to the Master Servicer or the
Special Servicer, as applicable, may retain counsel and appear in any such
proceeding on its own behalf in order to protect and represent its interests;
provided that the Master Servicer or the Special Servicer, as applicable, shall
retain the right to manage and direct any such action, suit, litigation or
proceeding, (b) of any action, suit, litigation or proceeding, other than an
action, suit, litigation or proceeding relating to the enforcement of the
obligations under the related loan documents, neither the Master Servicer nor
the Special Servicer shall, without the prior written consent of the Trustee,
(i) initiate any action, suit, litigation or proceeding in the name of the
Trustee, whether in such capacity or individually, (ii) engage counsel to
represent the Trustee or (iii) prepare, execute or deliver any government
filings, forms, permits, registrations or other documents or take any other
similar action with the intent to cause, and that actually causes, the Trustee
to be registered to do business in any state; and (c) that any court finds that
the Trustee is a necessary party in respect of any action, suit, litigation or
proceeding relating to or arising from this Agreement or any Mortgage Loan, the
Trustee shall have the right to retain counsel and appear in any such proceeding
on its own behalf in order to protect and represent its interest, whether as
Trustee or individually; provided that the Master Servicer or the Special
Servicer, as applicable, shall retain the right to manage and direct any such
action, suit, litigation or proceeding.

      Section 3.11  Servicing Compensation; Interest on Servicing Advances;
Payment of Certain Expenses; Obligations of the Trustee Regarding Back-up
Servicing Advances.

      (a) As compensation for its activities hereunder, the Master Servicer
shall be entitled to receive the Master Servicing Fee with respect to each Loan
(including each Specially Serviced Loan) and each related REO Serviced Loan. As
to each such Loan and REO Serviced Loan, for each calendar month (commencing
with June 2006) or any applicable portion thereof, the Master Servicing Fee
shall accrue at the related Master Servicing Fee Rate on the same principal
amount, and without giving effect to any Excess Interest that may accrue on any
ARD Loan after its Anticipated Repayment Date, as interest accrues from time to
time during such calendar month (or portion thereof) on such Loan or is deemed
to accrue from time to time during such calendar month (or portion thereof) on
such REO Serviced Loan, as the case may be, and shall be calculated on the same
Interest Accrual Basis as is applicable for such Loan or REO Serviced Loan, as
the case may be. The Master Servicing Fee with respect to any Loan or REO
Serviced Loan shall cease to accrue if a Liquidation Event (or with respect to a
Non-Serviced Mortgage Loan, a similar event occurs under the related
Non-Serviced Mortgage Loan Pooling Agreement) occurs in respect thereof. Master
Servicing Fees earned with respect to any such Loan or REO Serviced Loan shall
be payable monthly from payments of interest on such Loan or REO Revenues
allocable as interest on such REO Serviced Loan, as the case may be. The Master
Servicer shall be entitled to recover unpaid Master Servicing Fees in respect of
any Loan or REO Serviced Loan out of the portion of any related Insurance
Proceeds, Condemnation Proceeds or Liquidation Proceeds allocable as interest on
such Loan or REO Serviced Loan, as the case may be. The right to receive the
Master Servicing Fee may not be transferred in whole or in part except in
connection with the transfer of all of the Master Servicer's responsibilities
and obligations under this Agreement and except as otherwise expressly provided
in the following paragraph.

      (b) The Master Servicer shall be entitled to receive the following items
as additional servicing compensation, which shall be paid prior to remittance of
such amounts, if any, which are required to be paid to any Companion Loan Holder
under any Intercreditor Agreement (the following items, collectively,
"Additional Master Servicing Compensation"):

            (i) any and all Net Default Charges, Net Assumption Application
      Fees, Net Modification Application Fees and earnout fees collected with
      respect to a Performing Serviced Loan;

            (ii) 50% of any and all Net Assumption Fees actually paid by a
      Mortgagor with respect to a Performing Serviced Loan;

            (iii) 50% of any and all Net Modification Fees, extension fees,
      consent fees and waiver fees actually paid by a Mortgagor with respect to
      a Performing Serviced Loan for which Special Servicer approval is
      required;

            (iv) any and all charges for beneficiary statements or demands,
      amounts collected for checks returned for insufficient funds and other
      loan processing fees actually paid by a Mortgagor with respect to a
      Performing Serviced Loan and, in the case of checks returned for
      insufficient funds, with respect to a Specially Serviced Loan;

            (v) any and all Prepayment Interest Excess collected on the Mortgage
      Loans (other than any Non-Serviced Mortgage Loan);

            (vi) interest or other income earned on deposits in the Investment
      Accounts maintained by the Master Servicer, in accordance with Section
      3.06(b) (but only to the extent of the Net Investment Earnings, if any,
      with respect to any such Investment Account for each Collection Period
      and, further, in the case of a Servicing Account or Reserve Account, only
      to the extent such interest or other income is not required to be paid to
      any Mortgagor under applicable law or under the related Mortgage); and

            (vii) 50% of any and all substitution fees (net of any costs
      incurred in connection with any substitution) collected on the Serviced
      Loans.

      Notwithstanding the foregoing with respect to any 50% sharing of fees
referenced in this Section 3.11(b), the Master Servicer shall be entitled to all
such fees if with respect to the activity related to any such fee the Master
Servicer is not required to seek the consent and/or approval of the Special
Servicer pursuant to this Agreement.

      To the extent that any of the amounts described in the preceding paragraph
are collected by the Special Servicer, the Special Servicer shall promptly pay
such amounts to the Master Servicer.

      (c) As compensation for its activities hereunder, the Special Servicer
shall be entitled to receive monthly the Special Servicing Fee with respect to
each Specially Serviced Loan and each REO Serviced Loan for which it is
responsible. As to each Specially Serviced Loan and REO Serviced Loan, for any
particular calendar month or applicable portion thereof, the Special Servicing
Fee shall accrue at the Special Servicing Fee Rate on the same principal amount
as interest accrues from time to time during such calendar month (or portion
thereof) on such Specially Serviced Loan or is deemed to accrue from time to
time during such calendar month (or portion thereof) on such REO Serviced Loan,
as the case may be, and shall be calculated on the same Interest Accrual Basis
as is applicable for such Specially Serviced Loan or REO Serviced Loan, as the
case may be. The Special Servicing Fee with respect to any Specially Serviced
Loan or REO Serviced Loan shall cease to accrue as of the date a Liquidation
Event occurs in respect thereof or, in the case of a Specially Serviced Loan, as
of the date it becomes a Corrected Serviced Loan. Earned but unpaid Special
Servicing Fees with respect to Specially Serviced Loans and REO Serviced Loans
shall be payable monthly out of general collections on the Loans and any REO
Properties on deposit in the Certificate Account pursuant to Section 3.05(a).

      As further compensation for its activities hereunder, the Special Servicer
shall be entitled to receive the Workout Fee with respect to each Corrected
Serviced Loan. As to each Corrected Serviced Loan, the Workout Fee shall be
payable out of, and shall be calculated by application of the Workout Fee Rate
to, each payment of interest (other than Default Interest and Excess Interest)
and principal received from the related Mortgagor on such Serviced Loan for so
long as it remains a Corrected Serviced Loan. The Workout Fee with respect to
any such Corrected Serviced Loan will cease to be payable if a new Servicing
Transfer Event occurs with respect thereto or if the related Mortgaged Property
becomes an REO Property; provided that a new Workout Fee would become payable if
and when the subject Serviced Loan again became a Corrected Serviced Loan. If
the Special Servicer is terminated, including pursuant to Section 3.23, or
resigns in accordance with Section 6.04, it shall retain the right to receive
any and all Workout Fees payable in respect of (i) any Serviced Loans serviced
by it that became Corrected Serviced Loans during the period that it acted as
Special Servicer and that were still Corrected Serviced Loans at the time of
such termination or resignation and (ii) any Specially Serviced Loans for which
such Special Servicer has resolved the circumstances and/or conditions causing
any such Serviced Loan to be a Specially Serviced Loan, but that had not as of
the time the Special Servicer was terminated become a Corrected Serviced Loan
solely because the related Mortgagor had not made three consecutive timely
Monthly Payments and that subsequently becomes a Corrected Serviced Loan as a
result of the related Mortgagor making such three consecutive timely monthly
payments (and the successor to the Special Servicer shall not be entitled to any
portion of such Workout Fees), in each case until the Workout Fee for any such
loan ceases to be payable in accordance with the preceding sentence; provided
that, in the case of any Specially Serviced Loan described in clause (ii) of
this sentence, the terminated Special Servicer shall immediately deliver the
related Servicing File to the Master Servicer, and the Master Servicer shall
(without further compensation) monitor that all conditions precedent to such
Serviced Loan's becoming a Corrected Serviced Loan are satisfied and, further,
shall immediately transfer such Servicing File to the new Special Servicer if
and when it becomes apparent to the Master Servicer that such conditions
precedent will not be satisfied.

      As further compensation for its activities hereunder, the Special Servicer
shall also be entitled to receive a Liquidation Fee with respect to each
Specially Serviced Loan or REO Serviced Loan as to which it receives any full,
partial or discounted payoff from the related Mortgagor or any Insurance
Proceeds, Condemnation Proceeds or Liquidation Proceeds. Notwithstanding the
foregoing and for the avoidance of doubt, no Liquidation Fee shall be payable in
connection with (a) the purchase of a Defaulted Serviced Loan by the Majority
Certificateholder of the Controlling Class pursuant to any applicable purchase
right set forth in Section 3.18(c) or (l) or with respect to a purchase of a
related Defaulted Serviced Loan at its fair value as determined in Section 3.18,
unless such purchase is by an assignee of the Majority Certificateholder of the
Controlling Class or the Special Servicer, such assignee is not an affiliate of
the Majority Certificateholder of the Controlling Class or the Special Servicer,
such assignment is for no material consideration and such purchase occurs or
purchase right is exercised more than 90 days from the date that the Special
Servicer has initially determined the fair value of the Mortgage Loan, (b) the
purchase of any Mortgage Loan by the holder of a subordinate note or a Mezzanine
Loan pursuant to a purchase option contained in the related intercreditor
agreement unless such purchase occurs or purchase right is exercised more than
90 days from the date that the Special Servicer has initially determined the
fair value of the Mortgage Loan, (c) the purchase option of the Majority
Certificateholder of the Controlling Class, the Master Servicer or the Special
Servicer pursuant to Section 9.01, or (d) the repurchase by the related Mortgage
Loan Seller of a Mortgage Loan so required to be repurchased by it pursuant to
Section 4 of the related Mortgage Loan Purchase and Sale Agreement and Section
2.03 within the time frame set forth in the Initial Resolution Period and/or the
Resolution Extension Period (if applicable); provided that such time frame shall
never be less than 90 days from the date that the related Mortgage Loan Seller
was first notified of its obligation to so repurchase. As to each such Specially
Serviced Loan or REO Serviced Loan, the Liquidation Fee shall be payable out of,
and shall be calculated by application of the Liquidation Fee Rate to, any such
full, partial or discounted payoff, Condemnation Proceeds and/or Liquidation
Proceeds received or collected in respect thereof (other than any portion of
such payment or proceeds that represents Default Charges, Excess Interest or a
Prepayment Premium). The Liquidation Fee with respect to any such Specially
Serviced Loan will not be payable if such Serviced Loan becomes a Corrected
Serviced Loan.

      The Special Servicer's right to receive any Special Servicing Fee, Workout
Fee and/or Liquidation Fee to which it is entitled may not be transferred in
whole or in part except in connection with the transfer of all of the Special
Servicer's responsibilities and obligations under this Agreement and except as
otherwise expressly provided herein.

      (d) The Special Servicer shall be entitled to receive the following items
as additional special servicing compensation, which shall be paid prior to
remittance of such amounts, if any, which are required to be paid to any
Companion Loan Holder under any Intercreditor Agreement (the following items,
collectively, the "Additional Special Servicing Compensation"):

            (i) any and all Net Default Charges collected with respect to a
      Specially Serviced Loan or an REO Serviced Loan;

            (ii) any and all Net Assumption Fees, Net Assumption Application
      Fees, Net Modification Fees, Net Modification Application Fees, extension
      fees, consent fees, waiver fees, earnout fees, late payment charges and
      charges for beneficiary statements or demands that are actually received
      on or with respect to a Specially Serviced Loan or an REO Serviced Loan;

            (iii) 50% of any and all Net Assumption Fees, modification fees,
      extension fees, consent fees and waiver fees that are actually received on
      or with respect to a Performing Serviced Loan;

            (iv) interest or other income earned on deposits in the Special
      Servicer's applicable REO Account in accordance with Section 3.06(b) (but
      only to the extent of the Net Investment Earnings, if any, with respect to
      such REO Account for each Collection Period); and

            (v) 50% of any and all substitution fees (net of any costs incurred
      in connection with any substitution) collected on the Serviced Loans.

      Notwithstanding the foregoing with respect to the fees referenced in the
immediately preceding clause (iii), the Special Servicer shall not be entitled
to such fees unless the Master Servicer was required to seek the approval or
consent of the Special Servicer pursuant to this Agreement with respect to any
consent, extension, modification or waiver related to any such fee.

      To the extent that any of the amounts described in the preceding paragraph
are collected by the Master Servicer with respect to a Specially Serviced Loan,
the Master Servicer shall promptly pay such amounts to the Special Servicer and
shall not be required to deposit such amounts in the Certificate Account.

      (e) The Master Servicer and the Special Servicer shall each be required
(subject to Section 3.11(h) below) to pay out of its own funds all expenses
incurred by it in connection with its servicing activities hereunder (including
payment of any amounts due and owing to any Sub-Servicers retained by it
(including any termination fees) and the premiums for any blanket policy or the
standby fee or similar premium, if any, for any master force placed policy
obtained by it insuring against hazard losses pursuant to Section 3.07(b), if
and to the extent such expenses are not payable directly out of the Certificate
Account, the Reserve Accounts or an REO Account, and neither the Master Servicer
nor the Special Servicer shall be entitled to reimbursement for any such expense
incurred by it except as expressly provided in this Agreement. If the Master
Servicer is required to make any Servicing Advance hereunder at the direction of
the Special Servicer in accordance with Section 3.03(c), Section 3.19 or
otherwise, the Special Servicer shall promptly provide the Master Servicer with
such documentation regarding the subject Servicing Advance as the Master
Servicer may reasonably request.

      (f) If the Master Servicer is required under this Agreement to make a
Servicing Advance, but does not do so within ten days after such Advance is
required to be made, the Trustee shall, if it has actual knowledge of such
failure on the part of the Master Servicer, give notice of such failure to the
Master Servicer. If such Advance is not made by the Master Servicer within three
Business Days after such notice, then (subject to Section 3.11(h)) the Trustee
shall make such Advance. Any failure by the Master Servicer to make a Servicing
Advance it is required to make hereunder shall constitute an Event of Default by
the Master Servicer, subject to and as provided in Section 7.01(a).

      (g) The Master Servicer, the Special Servicer and the Trustee shall each
be entitled to receive interest at the Reimbursement Rate in effect from time to
time, accrued on the amount of each Advance made thereby (with its own funds),
for so long as such Advance is outstanding. Such interest with respect to any
Advances shall be payable: (i) first, in accordance with Sections 3.05 and 3.27,
out of any Default Charges subsequently collected on or in respect of the
Mortgage Pool or Companion Loan, if applicable; and (ii) then, after such
Advance is reimbursed, but only if and to the extent that such Default Charges
are insufficient to cover such Advance Interest, out of general collections on
the Mortgage Loans and REO Properties on deposit in the Certificate Account. The
Master Servicer shall reimburse itself, the Special Servicer or the Trustee, as
appropriate, for any Advance made by any such Person as soon as practicable
after funds available for such purpose are deposited into the Certificate
Account. Notwithstanding anything herein to the contrary, no interest shall be
payable with respect to any P&I Advance of a payment due on a Serviced Loan
during the applicable grace period and interest shall cease to accrue on any
Workout-Delayed Reimbursement Amount to the extent such amount has been
reimbursed from principal collections in accordance with Section 3.05.

      (h) Notwithstanding anything to the contrary set forth herein, none of the
Master Servicer, the Special Servicer or the Trustee shall be required to make
any Servicing Advance that it determines in its reasonable, good faith judgment
would constitute a Nonrecoverable Servicing Advance; provided, however, that the
Special Servicer may, at its option, in consultation with the Directing
Certificateholder, make a determination in accordance with the Servicing
Standard, that any Servicing Advance previously made or proposed to be made is a
Nonrecoverable Servicing Advance and shall deliver to the Master Servicer and
the Trustee notice of such determination. Any such determination shall be
conclusive and binding on the Master Servicer and the Trustee. The determination
by any Person with an obligation hereunder to make Servicing Advances (or a
determination by the Special Servicer with respect to such Person) that it has
made a Nonrecoverable Servicing Advance or that any proposed Servicing Advance,
if made, would constitute a Nonrecoverable Servicing Advance, shall be made by
such Person in its reasonable, good faith judgment and shall be evidenced by an
Officer's Certificate delivered promptly to the Depositor and the Trustee
(unless it is the Person making such determination), and the Trustee shall
provide a copy thereof to the Directing Certificateholder setting forth the
basis for such determination, accompanied by a copy of an Appraisal of the
related Mortgaged Property or REO Property performed within the 12 months
preceding such determination, and further accompanied by any other information,
including engineers' reports, environmental surveys or similar reports, that
such Person may have obtained and that support such determination.
Notwithstanding the foregoing and the Trustee (i) shall conclusively rely on and
be bound by any determination of nonrecoverability that may have been made by
the Special Servicer and (ii) shall be entitled to conclusively rely on any
determination of nonrecoverability that may have been made by the Master
Servicer with respect to a particular Servicing Advance, and the Master Servicer
and the Special Servicer shall each be entitled to conclusively rely on any
determination of nonrecoverability that may have been made by the other such
party with respect to a particular Servicing Advance. A copy of any such
Officer's Certificate (and accompanying information) of the Master Servicer
shall also be delivered promptly to the Special Servicer, a copy of any such
Officer's Certificate (and accompanying information) of the Special Servicer
shall also be promptly delivered to the Master Servicer, and a copy of any such
Officer's Certificates (and accompanying information) of the Trustee shall also
be promptly delivered to the Master Servicer and the Special Servicer. The
Master Servicer shall consider Unliquidated Advances in respect of prior
Servicing Advances for purposes of nonrecoverability determinations as if such
Unliquidated Advances were unreimbursed Servicing Advances.

      (i) Notwithstanding anything to the contrary set forth herein (other than
with respect to any Non-Serviced Mortgage Loan), the Master Servicer may (and,
at the direction of the Special Servicer if a Specially Serviced Loan or an REO
Property is involved, shall) pay directly out of the Certificate Account, in
accordance with Section 3.05, any servicing expense that, if paid by the Master
Servicer or the Special Servicer, would constitute a Nonrecoverable Servicing
Advance; provided that the Master Servicer (or the Special Servicer, if a
Specially Serviced Loan or an REO Property is involved) has determined in
accordance with the Servicing Standard that making such payment is in the best
interests of the Certificateholders, as evidenced by an Officer's Certificate
delivered promptly to the Depositor and the Trustee, which shall provide a copy
thereof to the Directing Certificateholder setting forth the basis for such
determination and accompanied by any information that such Person may have
obtained that supports such determination. A copy of any such Officer's
Certificate (and accompanying information) of the Master Servicer shall also be
delivered promptly to the Special Servicer, and a copy of any such Officer's
Certificate (and accompanying information) of the Special Servicer shall also be
promptly delivered to the Master Servicer.

      Section 3.12 Inspections; Collection of Financial Statements.

      (a) The Special Servicer shall perform or cause to be performed a physical
inspection of a Mortgaged Property as soon as practicable (but in any event not
later than 60 days) after the related Serviced Loan becomes a Specially Serviced
Loan (and, in cases where the related Serviced Loan has become a Specially
Serviced Loan, the Special Servicer shall continue to perform or cause to be
performed a physical inspection of the subject Mortgaged Property at least once
per calendar year thereafter for so long as the related Serviced Loan remains a
Specially Serviced Loan or if such Mortgaged Property becomes an REO Property);
provided that the Special Servicer shall be entitled to reimbursement of the
reasonable and direct out-of-pocket expenses incurred by it in connection with
each such inspection as Servicing Advances. Beginning in 2007, the Master
Servicer shall at its expense perform or cause to be performed an inspection of
each Mortgaged Property (other than the Mortgaged Property related to any
Non-Serviced Mortgage Loan) at least once per calendar year (or, in the case of
each Loan with an unpaid principal balance of under $2,000,000, once every two
years), if the Special Servicer has not already done so during that period
pursuant to the preceding sentence. In addition, with respect to each Specially
Serviced Loan, the Special Servicer shall inspect the related Mortgaged Property
as soon as practicable after the Debt Service Coverage Ratio for such Mortgage
Loan falls below 1.0x. The costs of each such inspection incurred by the Special
Servicer shall be reimbursable first from Default Charges and then, to the
extent such Default Charges are insufficient, out of general collections. To the
extent such costs are to be reimbursed from general collections, such costs
shall constitute an Additional Trust Fund Expense. The Master Servicer and the
Special Servicer shall each prepare a written report of each such inspection
performed by it or on its behalf that sets forth in detail the condition of the
Mortgaged Property and that specifies the occurrence or existence of: (i) any
sale, transfer or abandonment of the Mortgaged Property of which the Master
Servicer or the Special Servicer, as the case may be, is aware, (ii) any change
in the condition or occupancy of the Mortgaged Property that the Master Servicer
or the Special Servicer, as the case may be, in accordance with the Servicing
Standard, is aware of and considers material, or (iii) any waste committed on
the Mortgaged Property that the Master Servicer or the Special Servicer, as the
case may be, in accordance with the Servicing Standard, is aware of and
considers material. Upon request of the Trustee, the Master Servicer and the
Special Servicer shall each deliver to the Trustee a copy (or image in suitable
electronic media) of each such written report prepared by it, in each case
within 30 days following the request (or, if later, within 30 days following the
later of completion of the related inspection if the inspection is performed by
the Master Servicer or the Special Servicer, as the case may be, or receipt of
the related inspection report if the inspection is performed by a third party).
Upon request, the Trustee shall request from the Master Servicer or the Special
Servicer, as the case may be, and, to the extent such items have been delivered
to the Trustee by the Master Servicer or the Special Servicer, as the case may
be, deliver, upon request, to each of the Depositor, the Mortgage Loan Sellers,
the Directing Certificateholder, the related Companion Loan Holder(s), any
Certificateholder or, if the Trustee has in accordance with Section 5.06(b)
confirmed the Ownership Interest in Certificates held thereby, any Certificate
Owner, a copy (or image in suitable electronic media) of each such written
report prepared by the Master Servicer or the Special Servicer.

      (b) Commencing with respect to the calendar quarter ended September 2006,
the Special Servicer, in the case of any Specially Serviced Loan, and the Master
Servicer, in the case of each Performing Serviced Loan, shall make reasonable
efforts to collect promptly (and, in any event, shall attempt to collect within
45 days following the end of the subject quarter or 120 days following the end
of the subject year) from each related Mortgagor quarterly and annual operating
statements, budgets and rent rolls of the related Mortgaged Property, and
quarterly and annual financial statements of such Mortgagor, to the extent
required pursuant to the terms of the related Mortgage. In addition, the Special
Servicer shall cause quarterly and annual operating statements, budgets and rent
rolls to be regularly prepared in respect of each REO Property (other than any
REO Property related to any Non-Serviced Mortgage Loan) and shall collect all
such items promptly following their preparation. The Special Servicer shall
deliver copies (or images in suitable electronic media) of all of the foregoing
items so collected or obtained by it to the Master Servicer within 30 days of
its receipt thereof.

      Within 60 days after receipt by the Master Servicer from the related
Mortgagors or otherwise, as to Performing Serviced Loans, and within 45 days
after receipt by the Special Servicer or otherwise, as to Specially Serviced
Loans and REO Properties (other than REO Properties related to any Non-Serviced
Mortgage Loan), of any annual operating statements or rent rolls with respect to
any Mortgaged Property (other than the Mortgaged Property related to any
Non-Serviced Mortgage Loan) or REO Property (other than any REO Property related
to any Non-Serviced Mortgage Loan), the Master Servicer (or the Special
Servicer, with respect to any Specially Serviced Loan or REO Property) shall,
based upon such operating statements or rent rolls, prepare (or, if previously
prepared, update) the related CMSA Operating Statement Analysis Report. The
Master Servicer also shall deliver to the Directing Certificateholder (in hard
copy or electronic format, as requested) copies of all such rent rolls and
operating statements. The Special Servicer shall remit a copy of each CMSA
Operating Statement Analysis Report prepared or updated by it (within ten days
following the initial preparation and each update thereof), together with, if so
requested, the underlying operating statements and rent rolls, to the Master
Servicer in a format reasonably acceptable to the Master Servicer and the
Trustee. All CMSA Operating Statement Analysis Reports relating to Performing
Serviced Loans shall be maintained by the Master Servicer, and all CMSA
Operating Statement Analysis Reports relating to any Specially Serviced Loan and
REO Property shall be maintained by the Special Servicer. The Trustee shall,
upon request, request from the Master Servicer (if necessary) and, to the extent
such items have been delivered to the Trustee by the Master Servicer, deliver to
the Directing Certificateholder, any Certificateholder or, if the Trustee has in
accordance with Section 5.06 confirmed the Ownership Interest in the
Certificates held thereby, any Certificate Owner, a copy of such CMSA Operating
Statement Analysis (or update thereof) and, if requested, the related operating
statement or rent rolls.

      Within 60 days (or, in the case of items received from the Special
Servicer with respect to Specially Serviced Loans and REO Properties, 30 days)
after receipt by the Master Servicer of any quarterly or annual operating
statements with respect to any Mortgaged Property (other than with respect to
the Mortgaged Property related to any Non-Serviced Mortgage Loan) or REO
Property (other than any REO Property related to any Non-Serviced Mortgage
Loan), the Master Servicer (or the Special Servicer, with respect to any
Specially Serviced Loan or REO Property) shall prepare or update and forward to
the Trustee (upon request), the Master Servicer (with respect to CMSA NOI
Adjustment Worksheets prepared by the Special Servicer), the Special Servicer
(with respect to CMSA NOI Adjustment Worksheets prepared by the Master
Servicer), the Directing Certificateholder (if the Directing Certificateholder
and the Special Servicer are not the same entity), a CMSA NOI Adjustment
Worksheet for such Mortgaged Property or REO Property, together with, if so
requested, the related operating statements (in an electronic format reasonably
acceptable to the Trustee and the Special Servicer).

      If, with respect to any Serviced Loan (other than a Specially Serviced
Loan), the Special Servicer has any questions for the related Mortgagor based
upon the information received by the Special Servicer pursuant to Section
3.12(a) or 3.12(b), the Master Servicer shall, in this regard and without
otherwise changing or modifying its duties hereunder, reasonably cooperate with
the Special Servicer in assisting the Special Servicer to contact and solicit
information from such Mortgagor.

      (c) Not later than 2:00 p.m. (New York City time) on the first Business
Day following each Determination Date, the Special Servicer shall prepare and
deliver or cause to be delivered to the Master Servicer and the Directing
Certificateholder the following reports (or data files relating to reports of
the Master Servicer) with respect to the Specially Serviced Loans and any REO
Properties for which it is responsible, providing the required information as of
such Determination Date: (i) a CMSA Property File; (ii) a CMSA Special Servicer
Loan File (which, in each case, if applicable, will identify each Serviced Loan
by loan number and property name); and (iii) the CMSA REO Status Report. In
addition, the Special Servicer shall from time to time provide the Master
Servicer with such information in the Special Servicer's possession regarding
the Specially Serviced Loans and REO Properties as may be requested by the
Master Servicer and is reasonably necessary for the Master Servicer to prepare
each report and any supplemental information required to be provided by the
Master Servicer to the Trustee.

      (d) Not later than 12:00 noon (New York City time) on the third Business
Day following each Determination Date (or with respect to the CMSA Loan Periodic
Update File, not later than 2:00 p.m. (New York City time) on the second
Business Day following each Determination Date), the Master Servicer shall
prepare (if and to the extent necessary) and deliver or cause to be delivered to
the Trustee, the Special Servicer and the Directing Certificateholder (if the
Directing Certificateholder is not the same entity as the Special Servicer), in
a computer-readable medium downloadable by the Trustee, the Special Servicer,
the Directing Certificateholder (or, in the case of the Trustee, at the
Trustee's written request, in a form reasonably acceptable to the recipient,
including on a loan-by-loan basis), each of the files and reports listed in the
definition of "CMSA Investor Reporting Package" (other than the CMSA Bond Level
File and the CMSA Collateral Summary File, which are prepared by the Trustee),
providing the most recent information with respect to the Mortgage Pool as of
the related Determination Date (and which, in each case, if applicable, will
identify each subject Loan by loan number and property name).

      The Master Servicer may, but is not required to, make any of the reports
or files comprising the CMSA Investor Reporting Package (other than the CMSA
Bond Level File and the CMSA Collateral Summary File, which are prepared by the
Trustee) available each month on the Master Servicer's website; provided, that
the Master Servicer shall e-mail such reports or files to the Directing
Certificateholder, until the Master Servicer's website is established. In
connection with providing access to the Master Servicer's website, the Master
Servicer may require registration and the acceptance of a disclaimer and
otherwise (subject to the preceding sentence) adopt reasonable rules and
procedures, which may include, to the extent the Master Servicer deems necessary
or appropriate, conditioning access on execution of an agreement governing the
availability, use and disclosure of such information, and which may provide
indemnification to the Master Servicer for any liability or damage that may
arise therefrom.

      (e) The Special Servicer shall deliver to the Master Servicer the reports
set forth in Section 3.12(b) and Section 3.12(c), and the Master Servicer shall
deliver to the Trustee and the Special Servicer the reports set forth in Section
3.12(d), in an electronic format reasonably acceptable to the Special Servicer,
the Master Servicer and the Trustee. The Master Servicer may, absent manifest
error, conclusively rely on the reports to be provided by the Special Servicer
pursuant to Section 3.12(b) and Section 3.12(c). The Trustee may, absent
manifest error, conclusively rely on the reports to be provided by the Master
Servicer pursuant to Section 3.12(d). In the case of information or reports to
be furnished by the Master Servicer to the Trustee pursuant to Section 3.12(d),
to the extent that such information or reports are, in turn, based on
information or reports to be provided by the Special Servicer pursuant to
Section 3.12(b) or Section 3.12(c) and to the extent that such reports are to be
prepared and delivered by the Special Servicer pursuant to Section 3.12(b) or
Section 3.12(c), the Master Servicer shall have no obligation to provide such
information or reports to the Trustee until it has received the requisite
information or reports from the Special Servicer, and the Master Servicer shall
not be in default hereunder due to a delay in providing the reports required by
Section 3.12(d) caused by the Special Servicer's failure to timely provide any
information or report required under Section 3.12(b) or Section 3.12(c).

      (f) Notwithstanding the foregoing, however, the failure of the Master
Servicer or the Special Servicer to disclose any information otherwise required
to be disclosed by this Section 3.12 shall not constitute a breach of this
Section 3.12 to the extent the Master Servicer or the Special Servicer so fails
because such disclosure, in the reasonable belief of the Master Servicer or the
Special Servicer, as the case may be, would violate any applicable law or any
provision of a Loan document prohibiting disclosure of information with respect
to the Loans or Mortgaged Properties or would constitute a waiver of the
attorney-client privilege on behalf of the Trust. The Master Servicer and the
Special Servicer may disclose any such information or any additional information
to any Person so long as such disclosure is consistent with applicable law, the
related loan documents and the Servicing Standard. The Master Servicer or the
Special Servicer may affix to any information provided by it any disclaimer it
deems appropriate in its reasonable discretion (without suggesting liability on
the part of any other party hereto).

      (g) The Depositor shall provide to the Master Servicer and the Trustee the
initial data (as of the respective Due Dates for the Loans in June 2006 or the
most recent earlier date for which such data is available) contemplated by the
CMSA Loan Setup File, the CMSA Loan Periodic Update File, the CMSA Operating
Statement Analysis Report and the CMSA Property File. In addition, the Depositor
shall cause each Mortgage Loan Seller to prepare (or cause to be prepared on its
behalf) a CMSA Loan Set-Up File.

      (h) If the Master Servicer or the Special Servicer is required to deliver
any statement, report or information under any provision of this Agreement, the
Master Servicer or the Special Servicer, as the case may be, may satisfy such
obligation by (x) physically delivering a paper copy of such statement, report
or information, (y) delivering such statement, report or information in a
commonly used electronic format or (z) making such statement, report or
information available on the Master Servicer's internet website or the Trustee's
Website, unless this Agreement expressly specifies a particular method of
delivery. Notwithstanding the foregoing, the Trustee may request delivery in
paper format of any statement, report or information required to be delivered to
the Trustee and clause (z) shall not apply to the delivery of any information
required to be delivered to the Trustee unless the Trustee consents to such
delivery.

      Section 3.13 [Reserved].

      Section 3.14 [Reserved].

      Section 3.15 Access to Certain Information.

      (a) Each of the Master Servicer and the Special Servicer shall afford to
the Trustee, the Depositor, each Rating Agency, the Directing Certificateholder
and to the OTS, the FDIC and any other banking or insurance regulatory authority
that may exercise authority over any Certificateholder or Certificate Owner,
access to any records regarding the Loans and the servicing thereof within its
control, except to the extent it is prohibited from doing so by applicable law,
the terms of the loan documents or contract entered into prior to the Closing
Date or to the extent such information is subject to a privilege under
applicable law to be asserted on behalf of the Certificateholders. Such access
shall be afforded without charge but only upon reasonable prior written request
and during normal business hours at the offices of the Master Servicer or the
Special Servicer, as the case may be, designated by it; provided, however, that
Certificateholders and Certificate Owners shall be required to pay their own
photocopying costs. The Master Servicer and the Special Servicer shall each be
entitled to affix a reasonable disclaimer to any information provided by it for
which it is not the original source (without suggesting liability on the part of
any other party hereto). In connection with providing access to such records to
the Directing Certificateholder, the Master Servicer and the Special Servicer
may each require registration (to the extent access is provided via the Master
Servicer's internet website) and the acceptance of a reasonable disclaimer and
otherwise adopt reasonable rules and procedures, which may include, to the
extent the Master Servicer or the Special Servicer, as applicable, deems
necessary or reasonably appropriate, conditioning access on the execution and
delivery of an agreement reasonably governing the availability, use and
disclosure of such information. The failure of the Master Servicer or the
Special Servicer to provide access as provided in this Section 3.15 as a result
of a confidentiality obligation shall not constitute a breach of this Section
3.15. The Master Servicer and the Special Servicer may each deny any of the
foregoing persons access to confidential information or any intellectual
property that the Master Servicer or the Special Servicer is restricted by
license or contract from disclosing. In connection with providing access to
information pursuant to this Section 3.15 to parties other than the Trustee, the
Master Servicer and the Special Servicer may each (i) affix a reasonable
disclaimer to any information provided by it for which it is not the original
source (without suggesting liability on the part of any other party hereto);
(ii) affix to any information provided by it a reasonable statement regarding
securities law restrictions on such information and/or condition access to
information on the execution of a reasonable confidentiality agreement; (iii)
withhold access to confidential information or any intellectual property; and
(iv) withhold access to items of information contained in the Servicing File for
any Mortgage Loan if the disclosure of such items is prohibited by applicable
law or the provisions of any related loan documents or would constitute a waiver
of the attorney client privilege. Notwithstanding any provision of this
Agreement to the contrary, the failure of the Master Servicer or the Special
Servicer to disclose any information otherwise required to be disclosed by it
pursuant to this Agreement shall not constitute a breach of this Agreement to
the extent that the Master Servicer or the Special Servicer, as the case may be,
determines, in its reasonable good faith judgment consistent with the applicable
Servicing Standard, that such disclosure would violate applicable law or any
provision of a Mortgage Loan document or Companion Loan document prohibiting
disclosure of information with respect to the Mortgage Loans or Companion Loans
or the Mortgaged Properties, constitute a waiver of the attorney client
privilege on behalf of the Trust or the Trust Fund or otherwise materially harm
the Trust or the Trust Fund. Neither the Master Servicer nor the Special
Servicer shall be liable for providing or disseminating information in
accordance with the terms of this Agreement.

      (b) Once a month, each of the Master Servicer and the Special Servicer
shall, without charge, make a knowledgeable Servicing Officer available to
answer questions from the Directing Certificateholder during regular business
hours at such time and for such duration as the Master Servicer or the Special
Servicer, as applicable, and the Directing Certificateholder shall reasonably
agree, regarding the performance and servicing of the Mortgage Loans and/of REO
Properties for which the Master Servicer or the Special Servicer, as the case
may be, is responsible. As a condition to such disclosure, the Directing
Certificateholder shall execute a confidentiality agreement substantially in the
form attached hereto as Exhibit M.

      Section 3.16 Title to REO Property; REO Account.

      (a) If title to any REO Property (other than any REO Property related to
any Non-Serviced Mortgage Loan) is acquired, the deed or certificate of sale
shall be issued to the Trustee or its nominee, on behalf of the
Certificateholders or, subject to Section 3.09(b), to a single member limited
liability company of which the Trust is the sole member, which limited liability
company is formed or caused to be formed by the Special Servicer at the expense
of the Trust for the purpose of taking title to one or more REO Properties
pursuant to this Agreement. The limited liability company shall be (i)
disregarded as an entity separate from the Trust pursuant to Treasury
Regulations Section 301.7701-3(b), and (ii) a manager-managed limited liability
company, with the Special Servicer to serve as the initial manager to manage the
property of the limited liability company, including any applicable REO Property
(other than any REO Property related to any Non-Serviced Mortgage Loan), in
accordance with the terms of this Agreement as if such property was held
directly in the name of the Trust or Trustee under this Agreement. The Special
Servicer, on behalf of the Trust, shall sell any REO Property (other than any
REO Property related to any Non-Serviced Mortgage Loan) by the end of the third
calendar year following the year in which the Trust and, if applicable, the
related Companion Loan Holder(s) acquire ownership of such REO Property for
purposes of Section 860G(a)(8) of the Code, unless the Special Servicer either
(i) applies, more than 60 days prior to the expiration of such liquidation
period, and is granted an extension of time (an "REO Extension") by the IRS to
sell such REO Property or (ii) obtains for the Trustee an Opinion of Counsel,
addressed to the Trustee, to the effect that the holding by the Trust of such
REO Property subsequent to the end of the third calendar year following the year
in which such acquisition occurred will not result in an Adverse REMIC Event
with respect to either of REMIC I or REMIC II. Regardless of whether the Special
Servicer applies for or is granted the REO Extension contemplated by clause (i)
of the immediately preceding sentence or obtains the Opinion of Counsel referred
to in clause (ii) of such sentence, the Special Servicer shall act in accordance
with the Servicing Standard to liquidate such REO Property on a timely basis. If
the Special Servicer is granted such REO Extension or obtains such Opinion of
Counsel, the Special Servicer shall (i) promptly forward a copy of such REO
Extension or Opinion of Counsel to the Trustee, and (ii) sell such REO Property
within such extended period as is permitted by such REO Extension or
contemplated by such Opinion of Counsel, as the case may be. Any expense
incurred by the Special Servicer in connection with its applying for and being
granted the REO Extension contemplated by clause (i) of the third preceding
sentence or its obtaining the Opinion of Counsel contemplated by clause (ii) of
the third preceding sentence, and for the creation of and the operating of a
limited liability company, shall be covered by, and be reimbursable as, a
Servicing Advance. In the case of the Trust's beneficial interest in a Mortgaged
Property acquired under the Desert Passage Pooling Agreement or the 277 Park
Avenue Pooling Agreement, the Special Servicer shall coordinate with the
applicable special servicer with respect to any REO Extension on behalf of REMIC
I.

      (b) The Special Servicer shall segregate and hold all funds collected and
received in connection with any REO Property (other than any REO Property
related to any Non-Serviced Mortgage Loan) separate and apart from its own funds
and general assets. If an REO Acquisition shall occur, except as provided in the
immediately succeeding sentence, the Special Servicer shall establish and
maintain one or more REO Accounts, to be held on behalf of the Trustee in trust
for the benefit of the Certificateholders, for the retention of revenues and
other proceeds derived from each REO Property. Each REO Account shall be an
Eligible Account and may consist of one account for all the REO Properties. The
Special Servicer shall deposit, or cause to be deposited, into the related REO
Account, within two Business Days of receipt, all REO Revenues, Liquidation
Proceeds (net of all Liquidation Expenses paid therefrom) and Insurance Proceeds
received in respect of an REO Property. The Special Servicer is authorized to
pay out of related Liquidation Proceeds any Liquidation Expenses incurred in
respect of an REO Property and outstanding at the time such proceeds are
received. Funds in an REO Account may be invested only in Permitted Investments
in accordance with Section 3.06. The Special Servicer shall be entitled to make
withdrawals from an REO Account to pay itself, as Additional Special Servicing
Compensation in accordance with Section 3.11(d), interest and investment income
earned in respect of amounts held in such REO Account as provided in Section
3.06(b) (but only to the extent of the Net Investment Earnings with respect to
the REO Account for any Collection Period). The Special Servicer shall give
notice to the other parties hereto of the location of an REO Account when first
established and of the new location of an REO Account prior to any change
thereof.

      (c) The Special Servicer shall withdraw from the REO Account funds
necessary for the proper operation, management, maintenance and disposition of
any REO Property (other than any REO Property related to any Non-Serviced
Mortgage Loan), but only to the extent of amounts on deposit in the applicable
REO Account relating to such REO Property. By 2:00 p.m., New York City time, on
the Business Day following the end of each Collection Period, the Special
Servicer shall withdraw from the related REO Account and deposit into the
Certificate Account or deliver to the Master Servicer (which shall deposit such
amounts into the Certificate Account the aggregate of all amounts received in
respect of each such REO Property during such Collection Period, net of any
withdrawals made out of such amounts pursuant to the preceding sentence;
provided that the Special Servicer may retain in the applicable REO Account such
portion of such proceeds and collections as may be necessary to maintain a
reserve of sufficient funds for the proper operation, management, leasing,
maintenance and disposition of any such REO Property (including the creation of
a reasonable reserve for repairs, replacements, necessary capital improvements
and other related expenses), such reserve not to exceed an amount sufficient to
cover such items reasonably expected to be incurred during the following
12-month period.

      (d) The Special Servicer shall keep and maintain separate records, on a
property-by-property basis, for the purpose of accounting for all deposits to,
and withdrawals from, an REO Account pursuant to Section 3.16(b) or (c).

      Section 3.17 Management of REO Property.

      (a) If title to any REO Property (other than any REO Property related to
any Non-Serviced Mortgage Loan) is acquired, the Special Servicer shall manage,
conserve, protect, operate and lease such REO Property for the benefit of the
Certificateholders solely for the purpose of its timely disposition and sale in
a manner that does not cause such REO Property to fail to qualify as
"foreclosure property" within the meaning of Section 860G(a)(8) of the Code or
result in the receipt by the Trust Fund of any "income from non permitted
assets" within the meaning of Section 860F(a)(2)(B) of the Code. Subject to the
foregoing, however, the Special Servicer shall have full power and authority to
do any and all things in connection therewith as are in the best interests of
and for the benefit of the Certificateholders (as determined by the Special
Servicer in its good faith and reasonable judgment). Subject to this Section
3.17, the Special Servicer may earn "net income from foreclosure property"
within the meaning of Section 860G(c) of the Code if it determines that earning
such income is in the best interests of Certificateholders, on a net after-tax
basis as compared with net leasing such REO Property or operating such REO
Property on a different basis. In connection therewith, the Special Servicer
shall deposit or cause to be deposited on a daily basis (and in no event later
than the second Business Day following receipt of such funds), in the applicable
REO Account all revenues received by it with respect to each such REO Property
and the related REO Serviced Loan, and shall withdraw from the applicable REO
Account, to the extent of amounts on deposit therein with respect to such REO
Property, funds necessary for the proper operation, management, leasing,
maintenance and disposition of such REO Property, including, without limitation:

            (i) all insurance premiums due and payable in respect of such REO
      Property;

            (ii) all real estate taxes and assessments in respect of such REO
      Property that may result in the imposition of a lien thereon;

            (iii) any ground rents in respect of such REO Property, if
      applicable; and

            (iv) all costs and expenses necessary to maintain, lease and dispose
      of such REO Property.

      To the extent that amounts on deposit in the REO Account in respect of any
such REO Property are insufficient for the purposes set forth in clauses (i)
through (iv) above with respect to such REO Property, the Special Servicer
shall, subject to Section 3.19(d), direct the Master Servicer to make (and the
Master Servicer shall so make) Servicing Advances in such amounts as are
necessary for such purposes unless (as evidenced in the manner contemplated by
Section 3.11(g)) the Master Servicer determines, in its reasonable, good faith
judgment, that such payment would be a Nonrecoverable Servicing Advance.

      (b) Without limiting the generality of the foregoing, the Special Servicer
shall not:

            (i) permit the Trust Fund to enter into, renew or extend any New
      Lease with respect to any REO Property (other than any REO Property
      related to any Non-Serviced Mortgage Loan), if the New Lease by its terms
      will give rise to any income that does not constitute Rents from Real
      Property;

            (ii) permit any amount to be received or accrued under any New Lease
      other than amounts that will constitute Rents from Real Property;

            (iii) authorize or permit any construction on any such REO Property,
      other than the completion of a building or other improvement thereon, and
      then only if more than 10% of the construction of such building or other
      improvement was completed before default on the related Serviced Loan
      became imminent, all within the meaning of Section 856(e)(4)(B) of the
      Code; or

            (iv) Directly Operate, or allow any other Person, other than an
      Independent Contractor, to Directly Operate, any such REO Property on any
      date more than 90 days after its acquisition date;

unless, in any such case, the Special Servicer has obtained an Opinion of
Counsel (the cost of which shall be paid by the Master Servicer as a Servicing
Advance) to the effect that such action will not cause such REO Property to fail
to qualify as "foreclosure property" within the meaning of Section 860G(a)(8) of
the Code at any time that it is held by the Trust Fund, in which case the
Special Servicer may take such actions as are specified in such Opinion of
Counsel.

      (c) The Special Servicer shall contract with any Independent Contractor
for the operation and management of any REO Property (other than any REO
Property related to any Non-Serviced Mortgage Loan) within 90 days of the
acquisition date thereof, provided that:

            (i) the terms and conditions of any such contract may not be
      inconsistent herewith and shall reflect an agreement reached at arm's
      length;

            (ii) the fees of such Independent Contractor (which shall be an
      expense of the Trust Fund) shall be reasonable and customary in light of
      the nature and locality of the REO Property;

            (iii) any such contract shall require, or shall be administered to
      require, that the Independent Contractor (A) pay all costs and expenses
      incurred in connection with the operation and management of such REO
      Property, including, without limitation, those listed in Section 3.17(a),
      and (B) remit all related revenues collected (net of its fees and such
      costs and expenses) to the Special Servicer upon receipt;

            (iv) none of the provisions of this Section 3.17(c) relating to any
      such contract or to actions taken through any such Independent Contractor
      shall be deemed to relieve the Special Servicer of any of its duties and
      obligations hereunder with respect to the operation and management of any
      such REO Property; and

            (v) the Special Servicer shall be obligated with respect thereto to
      the same extent as if it alone were performing all duties and obligations
      in connection with the operation and management of such REO Property.

      The Special Servicer shall be entitled to enter into any agreement with
any Independent Contractor performing services for it related to its duties and
obligations hereunder for indemnification of the Special Servicer by such
Independent Contractor, and nothing in this Agreement shall be deemed to limit
or modify such indemnification. To the extent the costs of any contract with an
Independent Contractor for the operation and maintenance of any REO Property are
greater than the revenues from such REO Property (other than any REO Property
related to any Non-Serviced Mortgage Loan), such excess costs shall be covered
by and reimbursable as a Servicing Advance.

      (d) When and as necessary, the Special Servicer shall send to the Trustee
and the Master Servicer a statement prepared by the Special Servicer setting
forth the amount of net income or net loss, as determined for federal income tax
purposes, resulting from the operation and management of a trade or business on,
the furnishing or rendering of a non customary service to the tenants of, or the
receipt of any other amount not constituting Rents from Real Property in respect
of, any REO Property (other than any REO Property related to any Non-Serviced
Mortgage Loan) in accordance with Sections 3.17(a) and 3.17(b).

      Section 3.18 Resolution of Defaulted Serviced Loans and REO Properties.

      (a) The Master Servicer, the Special Servicer or the Trustee may sell or
purchase, or permit the sale or purchase of, a Loan or a related REO Property
(other than any REO Property related to any Non-Serviced Mortgage Loan) only on
the terms and subject to the conditions set forth in this Section 3.18 or as
otherwise expressly provided in or contemplated by Section 2.03(a), Section
9.01, an Intercreditor Agreement, or, in the case of a Mortgage Loan with a
related Mezzanine Loan, pursuant to the terms of the related Mezzanine
Intercreditor Agreement, or, in the case of the Desert Passage Pari Passu Note
A-3 Mortgage Loan, in the Desert Passage Intercreditor Agreement or the Desert
Passage Pooling Agreement, or, in the case of the 277 Park Avenue Pari Passu
Note A-3 Mortgage Loan, in either 277 Park Avenue Intercreditor Agreement or the
277 Park Avenue Pooling Agreement.

      (b) After the Master Servicer has pursuant to Section 3.21(a) notified the
Special Servicer of a Servicing Transfer Event and in connection therewith has
provided the Special Servicer with the information required under Section
3.21(a) with respect to any Defaulted Serviced Loan, the Special Servicer shall
determine the fair value of such Defaulted Serviced Loan in accordance with the
Servicing Standard as hereinafter provided; provided, however, that such
determination shall be made without taking into account any effect the
restrictions on the sale of such Mortgage Loan contained herein may have on the
value of such Defaulted Serviced Loan; provided, further, that the Special
Servicer shall use reasonable efforts promptly to obtain an Appraisal with
respect to the related Mortgaged Property unless it has an Appraisal that is
less than 12 months old and has no actual knowledge of, or notice of, any event
that in the Special Servicer's judgment would materially affect the validity of
such Appraisal. The Special Servicer shall make its fair value determination as
soon as reasonably practicable (but in any event within 30 days) after its
receipt of such new Appraisal, if applicable. The Special Servicer will, from
time to time, but not less often than every 90 days, adjust its fair value
determination based upon changed circumstances, new information and other
relevant factors, if any, in each instance in accordance with the Servicing
Standard. The Special Servicer shall notify the Trustee, the Master Servicer and
the Majority Certificateholder of the Controlling Class, promptly upon its fair
value determination and any adjustment thereto. The Special Servicer shall also
deliver to the Master Servicer and the Majority Certificateholder of the
Controlling Class, the most recent Appraisal of the related Mortgaged Property
then in the Special Servicer's possession, together with such other third-party
reports and other information then in the Special Servicer's possession that the
Special Servicer reasonably believes to be relevant to the fair value
determination with respect to such Mortgage Loan (such materials are,
collectively, the "Determination Information"). Notwithstanding the foregoing,
the Special Servicer shall not be required to deliver the Determination
Information to the Master Servicer, and shall instead deliver the Determination
Information to the Trustee, if the Master Servicer will not be determining
whether the Option Price represents fair value for the Defaulted Serviced Loan,
pursuant to Section 3.18(e). The reasonable out-of-pocket costs and expenses
incurred by the Special Servicer in making its fair value determination shall be
paid and reimbursed as a Servicing Advance.

      In determining the fair value of any Defaulted Serviced Loan, the Special
Servicer shall take into account, among other factors, the period and amount of
the delinquency on such Defaulted Serviced Loan, the occupancy level and
physical condition of the related Mortgaged Property, the state of the local
economy in the area where the Mortgaged Property is located, the time and
expense associated with a purchaser's foreclosing on the related Mortgaged
Property and the expected recoveries from pursuing a work-out or foreclosure
strategy instead of selling the Defaulted Serviced Loan to the Option Holder. In
addition, the Special Servicer shall refer to the Determination Information and
all other relevant information obtained by it or otherwise contained in the
Mortgage File and provided to the Special Servicer; provided that the Special
Servicer shall take account of any change in circumstances regarding the related
Mortgaged Property known to the Special Servicer that has occurred subsequent
to, and that would, in the Special Servicer's reasonable judgment, materially
affect the value of the related Mortgaged Property reflected in, the most recent
related Appraisal. Furthermore, the Special Servicer shall consider all
available objective third-party information obtained from generally available
sources, as well as information obtained from Independent vendors providing real
estate services to the Special Servicer, concerning the market for distressed
real estate loans and the real estate market for the subject property type in
the area where the related Mortgaged Property is located. The reasonable cost of
all third party consultants and related reports, including but not limited to
appraisals, inspection reports and broker opinions of value, reasonably incurred
by the Special Servicer pursuant to this Section 3.18(b) shall constitute, and
be reimbursable as, Servicing Advances. The other parties to this Agreement
shall cooperate with all reasonable requests for information.

      (c) At the time a Mortgage Loan becomes a Defaulted Serviced Loan, the
Special Servicer and the Majority Certificateholder of the Controlling Class
(each, together with their assignees, an "Option Holder") will have an
assignable option (the "Purchase Option") to purchase such Defaulted Serviced
Loan, subject to Section 3.18(l) from the Trust Fund at a price (the "Option
Price") equal to (A) if the Special Servicer has not yet determined the fair
value of such Defaulted Serviced Loan, the sum of (1) the Stated Principal
Balance thereof, together with all accrued and unpaid interest thereon at the
Mortgage Rate, (2) any related Prepayment Premium then payable by the Mortgagor,
to the extent the Special Servicer or the Special Servicer's assignee is
identified as the Person that will acquire the related Mortgage Loan, (3) all
related Advances for which the Trust Fund, the Master Servicer, the Special
Servicer or the Trustee has not been reimbursed, together with all accrued and
unpaid interest thereon at the Advance Rate, and (4) all accrued Master
Servicing Fees, Special Servicing Fees, Trustee Fees, Liquidation Fees, Workout
Fees and Additional Trust Fund Expenses allocable to such Defaulted Serviced
Loan whether recovered or unrecovered from the related Mortgagor or (B) if the
Special Servicer has determined the fair value of such Defaulted Serviced Loan
pursuant to Section 3.18(b), an amount at least equal to such fair value with
respect to any Purchase Option held by the Majority Certificateholder of the
Controlling Class or the Special Servicer only. Notwithstanding the foregoing
and for the avoidance of doubt, none of the Majority Certificateholder of the
Controlling Class or the related Mezzanine Loan Holder (with respect to a
Mezzanine Loan), shall be required to pay a Liquidation Fee with respect to any
applicable purchase right under this Agreement or in the applicable
Intercreditor Agreement or with respect to a purchase of a related Defaulted
Serviced Loan at its fair value as determined in this Section 3.18 if such
purchase occurs or purchase right is exercised not later than 90 days from the
date that the Special Servicer has initially determined the fair value for the
related Defaulted Serviced Loan.

      Any Option Holder may sell, transfer, assign or otherwise convey its
Purchase Option with respect to any Defaulted Serviced Loan to any party (other
than a Person whose acquisition of the Defaulted Serviced Loan would violate the
terms of any related intercreditor or similar agreement) at any time after the
related Mortgage Loan becomes a Defaulted Serviced Loan. The transferor of any
Purchase Option shall notify the Trustee and the Master Servicer of such
transfer and such notice shall include the transferee's name, address, telephone
number, facsimile number and appropriate contact person(s) and shall be
acknowledged in writing by the transferee.

      Notwithstanding the foregoing, the Majority Certificateholder of the
Controlling Class shall have the right to exercise its Purchase Option prior to
any exercise of the Purchase Option by the Special Servicer; provided, however,
if the Purchase Option is not exercised by the Majority Certificateholder of the
Controlling Class or any assignee thereof within 60 days of a Mortgage Loan
becoming a Defaulted Serviced Loan, then the Special Servicer shall have the
right to exercise its Purchase Option prior to any exercise by the Majority
Certificateholder of the Controlling Class and the Special Servicer or its
assignee may exercise such Purchase Option at any time during the 30-day period
immediately following the expiration of such 60-day period Following the
expiration of each such 30-day period, the Majority Certificateholder of the
Controlling Class shall again have the exclusive right to exercise the Purchase
Option.

      Each Option Holder's Purchase Option with respect to any Defaulted
Serviced Loan, if not exercised, will automatically terminate (A) once the
related Defaulted Serviced Loan is no longer a Defaulted Serviced Loan;
provided, however, that if such Mortgage Loan subsequently becomes a Defaulted
Serviced Loan, the related Purchase Option shall again be exercisable, (B) upon
the acquisition, by or on behalf of the Trust Fund, of title to the related
Mortgaged Property through foreclosure or deed-in-lieu of foreclosure, (C) upon
the modification or pay-off, in full or at a discount, of such Defaulted
Serviced Loan in connection with a workout, or (D) subject to the Master
Servicer's determination set forth in Section 3.18(e) below, upon another Option
Holder's exercise of its Purchase Option with respect to the related Mortgage
Loan becoming effective pursuant to Section 3.18(d) below.

      (d) Upon receipt of notice from the Special Servicer indicating that a
Mortgage Loan has become a Defaulted Serviced Loan, and after the expiration of
the Option Period, each Option Holder (whether the original grantee of such
option or any subsequent transferee) may exercise its Purchase Option by
providing the Master Servicer and the Trustee written notice thereof (the
"Purchase Option Notice"), in the form of Exhibit I, which notice shall identify
the Person that, on its own or through an Affiliate, will acquire the related
Mortgage Loan upon closing and shall specify a cash exercise price at least
equal to the Option Price. Immediately upon receipt of such Purchase Option
Notice, the Master Servicer shall notify the remaining Option Holders that a
Purchase Option has been exercised. Within ten days thereafter, each remaining
Option Holder may submit to the Master Servicer and the Trustee a Purchase
Option Notice for the related Defaulted Serviced Loan. Upon the expiration of
such ten-day period, or such sooner time as all remaining Option Holders have
submitted Purchase Option Notices, the Master Servicer shall notify the Option
Holder whose Purchase Option Notice included the highest exercise price that the
exercise of its Purchase Option is effective. The Master Servicer shall also
notify the Trustee of such effective exercise. In the event that more than one
Option Holder exercises its Purchase Option at the same price, the Purchase
Option Notice first received by the Master Servicer shall be effective. The
exercise of any Purchase Option pursuant to this Section 3.18(d) shall be
irrevocable.

      (e) If the Special Servicer or any Controlling Class Option Holder, or any
of their respective Affiliates, is identified in the Purchase Option Notice as
the Person expected to acquire the related Mortgage Loan, and the Option Price
is based upon the Special Servicer's fair value determination, the Master
Servicer shall determine whether the Option Price represents fair value for the
Defaulted Serviced Loan, in the manner set forth in Section 3.18(b) and as soon
as reasonably practicable but in any event within 30 days (except as such period
may be extended as set forth in this paragraph) of its receipt of the Purchase
Option Notice and Determination Information from the Special Servicer. In
determining whether the Option Price represents the fair value of such Defaulted
Serviced Loan, the Master Servicer may obtain an opinion as to the fair value of
such Defaulted Serviced Loans, taking into account the factors set forth in
Section 3.18(b), from a Qualified Appraiser or other Independent expert of
recognized standing having experience in evaluating the value of defaulted
mortgage loans, which opinion shall be based on a review, analysis and
evaluation of the Determination Information, and to the extent such Qualified
Appraiser or third party deems any such Determination Information to be
defective, incorrect, insufficient or unreliable, such Person may base its
opinion on such other information it deems reasonable or appropriate, and,
absent manifest error, the Master Servicer may conclusively rely on the opinion
of any such Person that was chosen by the Master Servicer with reasonable care.
Notwithstanding the 30-day time period referenced above in this paragraph, the
Master Servicer will have an additional 15 days to make a fair value
determination if the Person referenced in the immediately preceding sentence has
determined that the Determination Information is defective, incorrect,
insufficient or unreliable. The reasonable costs of all appraisals, inspection
reports and opinions of value, reasonably incurred by the Master Servicer or any
such third party pursuant to this paragraph shall be advanced by the Master
Servicer and shall constitute, and be reimbursable as, Servicing Advances. In
connection with the Master Servicer's determination of fair value, the Special
Servicer shall deliver to the Master Servicer the Determination Information for
the use of the Master Servicer or any such third party.

      Notwithstanding anything contained in this Section 3.18(e) to the
contrary, if the Special Servicer or the Majority Certificateholder of the
Controlling Class, or any of their respective Affiliates, is identified in the
Purchase Option Notice as the Person expected to acquire the related Mortgage
Loan, and the Option Price is based upon the Special Servicer's fair value
determination, and the Master Servicer and the Special Servicer are Affiliates,
the Trustee shall determine whether the Option Price represents fair value for
the Defaulted Serviced Loan, in the manner set forth in Section 3.18(b) and as
soon as reasonably practicable but in any event within 30 days (except as such
period may be extended as set forth in this paragraph) of its receipt of the
Purchase Option Notice and Determination Information from the Special Servicer.
In determining whether the Option Price represents the fair value of such
Defaulted Serviced Loan, the Trustee may obtain an opinion as to the fair value
of such Defaulted Serviced Loans, taking into account the factors set forth in
Section 3.18(b), from a Qualified Appraiser or other Independent expert of
recognized standing having experience in evaluating the value of defaulted
mortgage loans, which opinion shall be based on a review, analysis and
evaluation of the Determination Information, and to the extent such Qualified
Appraiser or third party deems any such Determination Information to be
defective, incorrect, insufficient or unreliable, such Person may base its
opinion on such other information it deems reasonable or appropriate, and absent
manifest error, the Trustee may conclusively rely on the opinion of any such
Person that was chosen by the Trustee with reasonable care. Notwithstanding the
30-day time period referenced above in this paragraph, the Trustee will have an
additional 15 days to make a fair value determination if the Person referenced
in the immediately preceding sentence has determined that the Determination
Information is defective, incorrect, insufficient or unreliable. The reasonable
costs of all appraisals, inspection reports and opinions of value, reasonably
incurred by the Trustee or any such third party pursuant to this paragraph shall
be advanced by the Master Servicer and shall constitute, and be reimbursable as,
Servicing Advances. In connection with the Trustee's determination of fair value
the Special Servicer shall deliver to the Trustee the Determination Information
for the use of the Trustee or any such third party.

      In the event a designated third party determines that the Option Price is
less than the fair value of the Defaulted Serviced Loan, such party shall
provide its determination, together with all information and reports it relied
upon in making such determination, to the Special Servicer, who shall then
adjust its fair value determination and, consequently, the Option Price,
pursuant to Section 3.18(b). The Special Servicer shall promptly provide written
notice of any adjustment of the Option Price to the Option Holder whose Purchase
Option has been declared effective pursuant to Section 3.18(d) above. Upon
receipt of such notice, such Option Holder shall have three Business Days to (i)
accept the Option Price as adjusted and proceed in accordance with Section
3.18(f) below, or (ii) reject the Option Price as adjusted, in which case such
Option Holder shall not be obligated to close the purchase of the Defaulted
Serviced Loan. Upon notice from such Option Holder, or the Special Servicer,
that such Option Holder rejects the Option Price as adjusted, the Master
Servicer and the Trustee shall provide the notices described in the second
paragraph of Section 3.18(f) below and thereafter any Option Holder may exercise
its purchase option in accordance with this Section 3.18, at the Option Price as
adjusted.

      (f) The Option Holder whose Purchase Option is declared effective pursuant
to Section 3.18(d) above shall be required to pay the purchase price specified
in its Purchase Option Notice to the Master Servicer within ten Business Days of
its receipt of the Master Servicer's notice confirming that the exercise of its
Purchase Option is effective. Upon receipt of an Officer's Certificate from the
Master Servicer specifying the date for closing the purchase of the related
Defaulted Serviced Loan, and the purchase price to be paid therefor, the Trustee
shall deliver at such closing for release to or at the direction of such Option
Holder, the related Mortgage File, and shall execute and deliver such
instruments of transfer or assignment, in each case without recourse, as shall
be provided to it by such Option Holder and are reasonably necessary to vest in
the purchaser or any designee thereof the ownership of such Mortgage Loan. In
connection with any such purchase by any Person other than it, the Special
Servicer shall deliver the related Mortgage File to or at the direction of the
purchaser. In any case, the Master Servicer shall deposit the purchase price
into the Certificate Account within one Business Day following receipt.

      The Master Servicer shall immediately notify the Trustee and the Special
Servicer upon the holder of the effective Purchase Option's failure to remit the
purchase price specified in its Purchase Option Notice pursuant to this Section
3.18(f). Thereafter, the Trustee shall notify each Option Holder of such failure
and any Option Holder may then exercise its purchase option in accordance with
this Section 3.18.

      (g) Unless and until the Purchase Option with respect to any Defaulted
Serviced Loan is exercised, the Special Servicer shall pursue such other
resolution strategies with respect to such Defaulted Serviced Loan including
workout, foreclosure and sale of any REO Property, as the Special Servicer may
deem appropriate, consistent with the Asset Status Report and the Servicing
Standard; provided, however, the Special Servicer shall not sell any Defaulted
Serviced Loan (other than in connection with exercise of a related Purchase
Option).

      (h) The Special Servicer shall sell an REO Property (other than any REO
Property related to any Non-Serviced Mortgage Loan) in the manner set forth in
Section 3.16(a). The Special Servicer may purchase any REO Property (other than
any REO Property related to any Non-Serviced Mortgage Loan) at the Purchase
Price therefor. The Special Servicer may also offer to sell to any Person any
REO Property (other than any REO Property related to any Non-Serviced Mortgage
Loan), if and when the Special Servicer determines, consistent with the
Servicing Standard, that such a sale would be in the best economic interests of
the Trust Fund. The Special Servicer shall give the Trustee, the Master Servicer
and the Directing Certificateholder, not less than ten days' prior written
notice of its intention to sell any such REO Property, in which case the Special
Servicer shall accept the highest offer received from any Person for any such
REO Property in an amount at least equal to the Purchase Price therefor. To the
extent permitted by applicable law, and subject to the Servicing Standard, the
Master Servicer, an Affiliate of the Master Servicer, the Special Servicer or an
Affiliate of the Special Servicer, or an employee of any of them may act as
broker in connection with the sale of any such REO Property and may retain from
the proceeds of such sale a brokerage commission that does not exceed the
commission that would have been earned by an independent broker pursuant to a
brokerage agreement entered into at arm's length.

      In the absence of any such offer, the Special Servicer shall accept the
highest offer received from any Person that is determined by the Special
Servicer to be a fair price for such REO Property, if the highest offeror is a
Person other than the Special Servicer, the Master Servicer (if the Master
Servicer and Special Servicer are Affiliates) or the Majority Certificateholder
of the Controlling Class, or any of their respective Affiliates, or if such
price is determined to be such a price by the Trustee, if the highest offeror is
the Special Servicer, the Master Servicer (if the Master Servicer and Special
Servicer are Affiliates) or the Majority Certificateholder of the Controlling
Class, or any of their respective Affiliates. Notwithstanding anything to the
contrary herein, neither the Trustee, in its individual capacity, nor any of its
Affiliates may make an offer for or purchase any such REO Property pursuant
hereto.

            The Special Servicer shall not be obligated by either of the
foregoing paragraphs or otherwise to accept the highest offer if the Special
Servicer determines, in accordance with the Servicing Standard, that rejection
of such offer would be in the best interests of the Certificateholders. In
addition, the Special Servicer may accept a lower offer if it determines, in
accordance with the Servicing Standard that acceptance of such offer would be in
the best interests of the Certificateholders (for example, if the prospective
buyer making the lower offer is more likely to perform its obligations, or the
terms offered by the prospective buyer making the lower offer are more
favorable).

            In determining whether any offer received from the Special Servicer,
the Master Servicer (if the Master Servicer and Special Servicer are Affiliates)
or the Majority Certificateholder of the Controlling Class, or any of their
respective Affiliates represents a fair price for any such REO Property (other
than any REO Property related to any Non-Serviced Mortgage Loan), the Trustee
shall obtain and may conclusively rely on an Appraisal from a Qualified
Appraiser, at the expense of the Trust Fund. In determining whether any offer
constitutes a fair price for any such REO Property, the Trustee (or, if
applicable, such Qualified Appraiser) shall take into account, and any appraiser
shall be instructed to take into account, as applicable, among other factors,
the physical condition of such REO Property, the state of the local economy and
the Trust Fund's obligation to comply with REMIC Provisions.

      (i) Subject to the Servicing Standard and the REMIC Provisions, the
Special Servicer shall act on behalf of the Trust Fund in negotiating and taking
any other action necessary or appropriate in connection with the sale of any
such REO Property, including the collection of all amounts payable in connection
therewith. A sale of any such REO Property shall be without recourse to, or
representation or warranty by, the Trustee, the Depositor, any Servicer, or the
Trust Fund (except that any contract of sale and assignment and conveyance
documents may contain customary representations and warranties of title,
condition and authority so long as the only recourse for breach thereof is to
the Trust Fund) and, if consummated in accordance with the terms of this
Agreement, none of the Master Servicer, the Special Servicer, the Depositor or
the Trustee shall have any liability to the Trust Fund or any Certificateholder
with respect to the purchase price therefor accepted by the Special Servicer or
the Trustee.

      (j) The Special Servicer shall, within two Business Days following its
receipt of available funds, remit to the Master Servicer the proceeds of any
sale after deduction of the expenses of such sale incurred in connection
therewith for deposit into the Certificate Account. The Trustee, upon receipt of
an Officer's Certificate from the Master Servicer to the effect that such
deposit has been made, shall release or cause to be released to the party or
parties effecting such purchase (or any designee thereof) the related Mortgage
File, and shall execute and deliver such instruments of transfer or assignment,
in each case without recourse, as shall be provided to it and are reasonably
necessary to vest in the purchaser of such Defaulted Serviced Loan effecting
such purchase (or any designee thereof) ownership of such Defaulted Serviced
Loan. In connection with any such purchase, the Special Servicer shall deliver
the related Servicing File to the purchaser of such Defaulted Serviced Loan with
the cooperation of the Master Servicer effecting such purchase (or any designee
thereof).

      (k) Subject to Sections 3.18(a) through 3.18(j) above, the Special
Servicer shall act on behalf of the Trustee in negotiating and taking any other
action necessary or appropriate in connection with the sale of any Defaulted
Serviced Loan or REO Property (other than any REO Property related to any
Non-Serviced Mortgage Loan), and the collection of all amounts payable in
connection therewith. In connection therewith, the Special Servicer may charge
prospective offerors, and may retain, fees that approximate the Special
Servicer's actual costs in the preparation and delivery of information
pertaining to such sales or evaluating offers without obligation to deposit such
amounts into the Certificate Account, provided no such fees and charges shall be
charged by the Special Servicer to the Controlling Class Option Holder or any
assignee in connection with the sale of Defaulted Serviced Loans. Any sale of a
Defaulted Serviced Loan or any REO Property shall be final and without recourse
to the Trustee or the Trust except as provided in Section 3.18(i), and if such
sale is consummated in accordance with the terms of this Agreement, none of the
Depositor, the Special Servicer, the Master Servicer or the Trustee shall have
any liability to any Certificateholder with respect to the purchase price
therefor accepted by the Special Servicer or the Trustee.

      (l) With respect to the Desert Passage Pari Passu Note A-3 Mortgage Loan,
the parties hereto agree and acknowledge that, pursuant to the Desert Passage
Pooling Agreement, such Mortgage Loan may be subject to a fair value purchase
option if the Desert Passage Pari Passu Note A-1 that was deposited into the
trust created under the Desert Passage Pooling Agreement becomes a defaulted
mortgage loan (in accordance with the terms of the Desert Passage Pooling
Agreement). Upon receipt of notice that the Desert Passage Whole Loan has become
a defaulted mortgage loan (in accordance with the Desert Passage Pooling
Agreement), the Option Holders shall have the right to purchase the related
Mortgage Loan from the Trust at a purchase price determined in accordance with
Section 3.18 of the Desert Passage Pooling Agreement (as set forth therein).
Such option shall be exercised in accordance with and shall otherwise be on the
same terms as the terms of Section 3.18 of the Desert Passage Pooling Agreement.

      With respect to the 277 Park Avenue Pari Passu Note A-3 Mortgage Loan, the
parties hereto agree and acknowledge that, pursuant to the 277 Park Avenue
Pooling Agreement, such Mortgage Loan may be subject to a fair value purchase
option if the 277 Park Avenue Pari Passu Note A-1 that was deposited into the
trust created under the 277 Park Avenue Pooling Agreement becomes a defaulted
mortgage loan (in accordance with the terms of the 277 Park Avenue Pooling
Agreement). Upon receipt of notice that the 277 Park Avenue Whole Loan has
become a defaulted mortgage loan (in accordance with the 277 Park Avenue Pooling
Agreement), the Option Holders shall have the right to purchase the related
Mortgage Loan from the Trust at a purchase price determined in accordance with
Section 3.18 of the 277 Park Avenue Pooling Agreement (as set forth therein).
Such option shall be exercised in accordance with and shall otherwise be on the
same terms as the terms of Section 3.18 of the 277 Park Avenue Pooling
Agreement.

      (m) Notwithstanding anything to the contrary herein, each Mezzanine Lender
may be entitled to purchase the related Mortgage Loan in accordance with the
terms and conditions set forth in the related Mezzanine Intercreditor Agreement,
even after it has been purchased out of the Trust Fund pursuant to this Section
3.18. Any purchase of a Specially Serviced Loan that is purchased pursuant to
this Section 3.18 will remain subject to the purchase rights of, in each case if
applicable, the related Mezzanine Lender as set forth in the related Mezzanine
Intercreditor Agreement.

      (n) Notwithstanding anything in this Agreement to contrary, in no event
with respect to the Desert Passage Pari Passu Note A-3 Mortgage Loan or the 277
Park Avenue Pari Passu Note A-3 Mortgage Loan will the related Mortgagor (or any
of its affiliates) be permitted to purchase such Mortgage Loan should such
Mortgage Loan become a Defaulted Serviced Loan under this Agreement.

      Section 3.19 Additional Obligations of the Master Servicer and the
Special Servicer.

      (a) The Master Servicer shall maintain at its Primary Servicing Office and
shall, upon reasonable advance written notice, make available for review by each
Rating Agency and by any Certificateholder or Certificate Owner or any Person
identified to the Master Servicer as a prospective transferee of a Certificate
or an interest therein, copies of the Servicing Files; provided that, if the
Master Servicer in its reasonable, good faith determination believes that any
item of information contained in such Servicing Files is of a nature that it
should be conveyed to all Certificateholders at the same time, it shall, as soon
as reasonably possible following its receipt of any such item of information,
disclose such item of information to the Trustee as part of the reports to be
delivered to the Trustee by the Master Servicer pursuant to Section 4.02(b), and
until the Trustee has either disclosed such information to all
Certificateholders in a Distribution Date Statement or has properly filed such
information with the Commission on behalf of the Trust under the Exchange Act,
the Master Servicer shall be entitled to withhold such item of information from
any Certificateholder or Certificate Owner or prospective transferee of a
Certificate or an interest therein; and provided, further, that the Master
Servicer shall not be required to make particular items of information contained
in the Servicing File for any Loan available to any Person if the disclosure of
such particular items of information is expressly prohibited by applicable law
or the provisions of any related loan documents. Except as set forth in the
provisos to the preceding sentence, copies of all or any portion of any
Servicing File are to be made available by the Master Servicer upon request;
however, the Master Servicer shall be permitted to require payment of a sum
sufficient to cover the reasonable out-of-pocket costs for making such copies
(other than with respect to the Rating Agencies and the Majority
Certificateholder of the Controlling Class). The Special Servicer shall, as to
each Specially Serviced Loan and REO Property (other than any REO Property
related to any Non-Serviced Mortgage Loan), promptly deliver to the Master
Servicer a copy of each document or instrument added to the related Servicing
File, and the Master Servicer shall in no way be in default under this Section
3.19(a) solely by reason of the Special Servicer's failure to do so.

      In connection with providing access to or copies of the items described in
the preceding paragraph, the Master Servicer may require, unless the Depositor
directs otherwise, (a) in the case of Certificate Owners, a written confirmation
executed by the requesting Person, in form reasonably satisfactory to the Master
Servicer, generally to the effect that such Person is a beneficial holder of
Certificates and will otherwise keep such information confidential and (b) in
the case of a prospective purchaser, confirmation executed by the requesting
Person generally to the effect that such Person is a prospective purchaser of a
Certificate or an interest therein, is requesting the information for use in
evaluating a possible investment in Certificates and will otherwise keep such
information confidential. All Certificateholders, by the acceptance of their
Certificates, shall be deemed to have agreed to keep such information
confidential, except to the extent that the Depositor grants written permission
to the contrary or to the extent such information is public information. The
Master Servicer shall not be liable for the dissemination of information in
accordance with this Section 3.19(a).

      (b) Promptly following the occurrence of an Appraisal Trigger Event with
respect to any Mortgage Loan (other than any Non-Serviced Mortgage Loan) (each
such Mortgage Loan and any related REO Serviced Loan, until it ceases to be such
in accordance with the following paragraph, a "Required Appraisal Serviced
Loan"), the Special Servicer shall obtain (or, if such Required Appraisal
Serviced Loan has a Stated Principal Balance of $2,000,000 or less, at its
discretion, conduct) an Appraisal of the related Mortgaged Property, unless an
Appraisal thereof had previously been obtained (or, if applicable, conducted)
within the preceding 12-month period and there has been no subsequent material
change in the circumstances surrounding the related Mortgaged Property that, in
the judgment of the Special Servicer, would materially affect the value of the
property, and shall deliver a copy of such Appraisal to the Trustee, the Master
Servicer, the Directing Certificateholder and any Requesting Subordinate
Certificateholder (subject to the second paragraph of Section 12.10). If such
Appraisal is obtained from a Qualified Appraiser, the cost thereof shall be
covered by, and be reimbursable as, a Servicing Advance. Promptly following the
receipt of, and based upon, such Appraisal, the Special Servicer shall determine
and report to the Trustee, the Master Servicer, the Directing Certificateholder,
the then applicable Appraisal Reduction Amount, if any, with respect to the
subject Required Appraisal Serviced Loan.

      For so long as any Serviced Loan or REO Serviced Loan remains a Required
Appraisal Serviced Loan, the Special Servicer shall, within 30 days of
each anniversary of such loan's having become a Required Appraisal Serviced
Loan, obtain (or, if such Required Appraisal Serviced Loan has a Stated
Principal Balance of $2,000,000 or less, at its discretion, conduct) an update
of the prior Appraisal, and shall deliver a copy of such update to the Trustee,
the Master Servicer, the Directing Certificateholder. If such update is obtained
from a Qualified Appraiser, the cost thereof shall be covered by, and be
reimbursable as, a Servicing Advance. Promptly following the receipt of, and
based upon, such update, the Special Servicer shall redetermine and report to
the Trustee, the Master Servicer and the Directing Certificateholder the then
applicable Appraisal Reduction Amount, if any, with respect to the subject
Required Appraisal Serviced Loan.

      The Directing Certificateholder has the right at any time to require that
the Special Servicer obtain a new Appraisal of the subject Mortgaged Property in
accordance with MAI standards from a Qualified Appraiser selected by the Special
Servicer, at the expense of the Controlling Class Certificateholder. Upon
receipt of such Appraisal the Special Servicer shall deliver a copy thereof to
the Trustee, the Master Servicer, the Directing Certificateholder. Promptly
following the receipt of, and based upon, such Appraisal, the Special Servicer
shall redetermine and report to the Trustee, the Master Servicer and the
Directing Certificateholder the then applicable Appraisal Reduction Amount, if
any, with respect to the subject Required Appraisal Serviced Loan.

      (c) The Master Servicer and the Special Servicer shall each deliver to the
other, to the Trustee (but only upon its request) and to the Directing
Certificateholder copies of all Appraisals, environmental reports and
engineering reports (or, in each case, updates thereof) obtained with respect to
any Mortgaged Property or REO Property. Upon the request of any Rating Agency or
any Holder of a Non-Registered Certificate (except a Class V, Class R-I or Class
R-II Certificate), pursuant to Section 8.12(b), the Trustee will inform the
Master Servicer or Special Servicer, as applicable, of such request and, if
necessary, the Master Servicer or Special Servicer, as applicable, will deliver
instructions, whereupon either such party, as applicable, shall deliver copies
of any of the items delivered pursuant to the preceding sentence to such
requesting Person.

      (d) No more frequently than once per calendar month, the Special Servicer
may require the Master Servicer, and the Master Servicer shall be obligated
subject to the second following paragraph to reimburse the Special Servicer for
any Servicing Advances that were made by the Special Servicer (notwithstanding
the fact that it has no obligation to make such Servicing Advances), but not
previously reimbursed (whether pursuant to this Section 3.19(d) or otherwise) to
the Special Servicer, and to pay the Special Servicer interest thereon at the
Reimbursement Rate from the date made to, but not including, the date of
reimbursement. Such reimbursement and any accompanying payment of interest shall
be made within ten days of the request therefor by wire transfer of immediately
available funds to an account designated by the Special Servicer. Upon the
Master Servicer's reimbursement to the Special Servicer of any Servicing Advance
and payment to the Special Servicer of interest thereon, all in accordance with
this Section 3.19(d), the Master Servicer shall for all purposes of this
Agreement be deemed to have made such Servicing Advance at the same time as the
Special Servicer originally made such Advance, and accordingly, the Master
Servicer shall be entitled to reimbursement for such Advance, together with
Advance Interest thereon, at the same time, in the same manner and to the same
extent as the Master Servicer would otherwise have been entitled if it had
actually made such Servicing Advance.

      Notwithstanding anything to the contrary contained in this Agreement, if
the Special Servicer (i) is required under any other provision of this Agreement
to direct the Master Servicer to make a Servicing Advance or (ii) is otherwise
aware a reasonable period in advance that it is reasonably likely that the
Special Servicer will incur a cost or expense that will, when incurred,
constitute a Servicing Advance, the Special Servicer shall (in the case of
clause (i) preceding), and shall use reasonable efforts to (in the case of
clause (ii) preceding), request that the Master Servicer make such Servicing
Advance, such request to be made in writing and confirmed by both parties and in
a timely manner that does not materially and adversely affect the interests of
any Certificateholder, and accompanied by sufficient information for the Master
Servicer to make recoverability determinations, and at least ten Business Days
prior to the date on which failure to make such Servicing Advance would (with
notice from the Trustee regardless of whether such notice is actually received)
constitute an Event of Default pursuant to Section 7.01(a)(v); provided,
however, that the Special Servicer (with respect to Specially Serviced Loans and
REO Properties) is allowed but not required to make any Servicing Advance that
it fails to timely request the Master Servicer to make. Subject to the following
paragraph, the Master Servicer shall have the obligation to make any such
Servicing Advance that it is requested by the Special Servicer to make within
five Business Days of the Master Servicer's receipt of such request and such
information and documents as are reasonably necessary for the Master Servicer to
make such Servicing Advance and to determine recoverability. The Master Servicer
shall be entitled to reimbursement for any Servicing Advance made by it at the
direction of the Special Servicer, together with Advance Interest thereon, at
the same time, in the same manner and to the same extent as the Master Servicer
is entitled with respect to any other Servicing Advance made thereby.

      Notwithstanding the foregoing provisions of this Section 3.19(d) or any
other provision of this Agreement to the contrary, the Master Servicer shall not
be required to reimburse the Special Servicer for, or make at the Special
Servicer's direction, any Servicing Advance if the Master Servicer determines in
its reasonable, good faith judgment that the Servicing Advance that the Special
Servicer is directing the Master Servicer to reimburse it for or make hereunder,
although not characterized by the Special Servicer as a Nonrecoverable Servicing
Advance, is or would be, if made, a Nonrecoverable Servicing Advance. The Master
Servicer shall notify the Special Servicer and the Trustee in writing of such
determination. Such notice shall not obligate the Special Servicer to make such
Servicing Advance.

      (e) The Master Servicer shall deliver to the Trustee for deposit into the
Distribution Account by 1:30 p.m. (New York City time) on each Master Servicer
Remittance Date, without any right of reimbursement therefor, a cash payment (a
"Compensating Interest Payment") in an amount equal to the sum of (i) the
aggregate amount of Balloon Payment Interest Shortfalls, if any, incurred in
connection with Balloon Payments received in respect of the Mortgage Pool during
the most recently ended Collection Period, plus (ii) the lesser of (A) the
aggregate amount of Prepayment Interest Shortfalls, if any, incurred in
connection with Principal Prepayments received in respect of the Mortgage Pool
(other than any Non-Serviced Mortgage Loan) during the most recently ended
Collection Period, and (B) the aggregate of (1) that portion of its Master
Servicing Fees for the related Collection Period that is, in the case of each
and every Loan and REO Serviced Loan for which such Master Servicing Fees are
being paid in such Collection Period, calculated at 0.01% per annum, and (2) all
Prepayment Interest Excesses received in respect of the Mortgage Pool during the
most recently ended Collection Period, plus (iii) in the event that any
Principal Prepayment was received on the last Business Day of the second most
recently ended Collection Period, but for any reason was not included as part of
the Master Servicer Remittance Amount for the preceding Master Servicer
Remittance Date (other than because of application of the subject Principal
Prepayment in accordance with Section 3.05(a) for another purpose), the total of
all interest and other income accrued or earned on the amount of such Principal
Prepayment while it is on deposit in the Certificate Account; provided, however,
that if a Prepayment Interest Shortfall occurs as a result of the Master
Servicer's allowing the related Borrower to deviate from the terms of the
related loan documents regarding principal prepayments (other than (v) on a
Specially Serviced Loan, (w) a payment of insurance proceeds or condemnation
proceeds, (x) a payment subsequent to a default under the related loan documents
(provided the Master Servicer reasonably believes that acceptance of such
payment is consistent with the Servicing Standard and has obtained the consent
of the Special Servicer), (y) pursuant to applicable law or a court order, or
(z) at the request or with the consent of the Directing Certificateholder),
then, for purposes of calculating the Compensating Interest Payment for the
subject Collection Period, the amount in clause (ii) above shall be the
aggregate of (A) all Master Servicing Fees for such Collection Period and (B)
all Prepayment Interest Excesses and, to the extent earned on principal
prepayments, Net Investment Earnings received by the Master Servicer during such
Collection Period; and provided, further, that the rights of the
Certificateholders to offset the aggregate Prepayment Interest Shortfalls shall
not be cumulative.

      (f) Except under the same circumstances that it would be permitted to
waive a prepayment lockout provision in the subject Serviced Loan pursuant to
Section 3.20(a), neither the Master Servicer nor the Special Servicer shall
consent to any Mortgagor's prepaying its Loan, partially or in its entirety, if
the Mortgagor would be prohibited from doing so without such consent. In each
case subject to the Servicing Standard and applicable law and to the extent
permitted by the related loan documents, the Master Servicer and the Special
Servicer agree not to accept any Principal Prepayments with respect to any
Serviced Loan on a date other than the applicable due date therefor except that
the Special Servicer shall be permitted to accept Principal Prepayments with the
consent of the Directing Certificateholder.

      (g) The Master Servicer shall not exercise any discretionary right it has
with respect to any Serviced Loan pursuant to the related Mortgage Note or
Mortgage to apply any amounts maintained as an escrow or reserve to the
principal balance of such Serviced Loan except in the case of a default
thereunder; provided, however, that this limitation shall not apply to any
Mortgage Loan sold to the Trust by Barclays.

      (h) The Master Servicer shall send written notice to each Borrower to the
effect that, if applicable, the Master Servicer and/or the Trustee have been
appointed as the "designee" of the lender under any related Lock-Box Agreement.

      (i) In connection with each prepayment of principal received hereunder,
the Master Servicer shall calculate any applicable Prepayment Premium under the
terms of the related Mortgage Note. Promptly following its determination
thereof, the Master Servicer shall disclose to the Trustee its calculation of
any such Prepayment Premium.

      (j) The Master Servicer shall, as to each Serviced Loan that is secured by
the interest of the related Mortgagor under a Ground Lease, promptly (and in any
event within 45 days) after the Closing Date notify the related ground lessor of
the transfer of such Serviced Loan to the Trust pursuant to this Agreement and
inform such ground lessor that any notices of default under the related Ground
Lease should thereafter be forwarded to the Master Servicer.

      (k) Except as required under the loan documents, Mezzanine Intercreditor
Agreement or applicable law and subject to Section 3.21(f), the Special Servicer
shall not, without the consent of the Directing Certificateholder, consent to
the foreclosure of any Mezzanine Loan or to the transfer of any Mezzanine Loan.

      (l) With respect to the Mortgage Loan identified as Loan No. 20061306 in
the Mortgage Loan Schedule, the Master Servicer shall promptly, and in any event
within two Business Days, send written notice to the Directing Certificateholder
and the Special Servicer of any request by the related Borrower for disbursement
of the earnout reserve held pursuant to the related loan documents.

      (m) With respect to the Mortgage Loans identified as Loan Nos. 20061306,
20051406, 20061601, 20061602, 20061603, 20061604 and 20061304 in the Mortgage
Loan Schedule, at any time that the related Borrower requests approval of a
lease covering at least 20% of the leasable space at the related Mortgaged
Property (other than as expressly required, with no lender discretion and/or is
automatic, under the related loan documents), the Master Servicer shall
promptly, and in any event within two Business Days, send written notice of such
request, together with all supporting materials, to the Directing
Certificateholder and the Special Servicer.

      Section 3.20 Modifications, Waivers, Amendments and Consents.

      (a) The Master Servicer (solely as to Performing Serviced Loans) and the
Special Servicer (as to Specially Serviced Loans) each may, consistent with the
Servicing Standard, agree to any modification, waiver or amendment of any term
of, forgive or defer the payment of interest (including, without limitation,
Default Interest and Excess Interest) on and principal of, forgive late payment
charges and Prepayment Premiums on, permit the release, addition or substitution
of collateral securing, and/or permit the release of the Mortgagor on or any
guarantor of any Serviced Loan it is required to service and administer
hereunder without the consent of the Trustee or any Certificateholder, subject,
however, to Section 3.02, Section 3.08, Section 3.21 and Section 3.28 and each
of the following limitations, conditions and restrictions:

            (i) other than as provided in Sections 2.03(b), 3.02, 3.08 and
      3.20(f), the Master Servicer shall not agree to any modification, waiver
      or amendment of any term of, or take any of the other acts referenced in
      this Section 3.20(a) with respect to, any Serviced Loan, that would affect
      the amount or timing of any related payment of principal, interest or
      other amount payable under such Serviced Loan or affect the security for
      such Serviced Loan, unless the Master Servicer has obtained the consent of
      the Special Servicer (it being understood and agreed that (A) the Master
      Servicer shall promptly provide the Special Servicer with notice of any
      Mortgagor's request for such modification, waiver or amendment, the Master
      Servicer's recommendations and analysis, and with all information
      reasonably available to the Master Servicer that the Special Servicer may
      reasonably request to withhold or grant any such consent, each of which
      shall be provided reasonably promptly in accordance with the Servicing
      Standard, (B) the Special Servicer shall decide whether to withhold or
      grant such consent in accordance with the Servicing Standard and (C) if
      any such request has not been expressly responded to within ten Business
      Days (subject to any extensions of applicable time periods required if the
      Special Servicer is required by this Agreement to seek the consent of
      third parties) of the Special Servicer's receipt from the Master Servicer
      of the Master Servicer's recommendations and analysis and all information
      reasonably requested thereby and reasonably available to the Master
      Servicer, as such time period may be extended if the Special Servicer is
      required to seek the consent of the Directing Certificateholder, any
      mezzanine lender, or the Rating Agencies, to make an informed decision
      (or, if the Special Servicer did not request any information, within ten
      Business Days from such notice), such consent shall be deemed to have been
      granted);

            (ii) Subject to the restrictions on extensions in Section
      3.20(a)(iv), the Master Servicer may (with the consent of the Directing
      Certificateholder, subject, however, to Section 3.21(f) extend the
      maturity date of any Mortgage Loan for up to six months (but not more than
      two such extensions by the Master Servicer shall occur);

            (iii) other than as provided in Sections 3.02 and 3.08, the Special
      Servicer shall not agree to (or, in the case of a Performing Serviced
      Loan, consent to the Master Servicer's agreeing to) any modification,
      waiver or amendment of any term of, or take (or, in the case of a
      Performing Serviced Loan, consent to the Master Servicer's taking) any of
      the other acts referenced in this Section 3.20(a) with respect to, any
      Serviced Loan that would affect the amount or timing of any related
      payment of principal, interest or other amount payable thereunder or, in
      the reasonable, good faith judgment of the Special Servicer, would add to,
      release, substitute for, or otherwise alter a material amount of the
      security for such Serviced Loan, unless a material default on such
      Serviced Loan has occurred or, in the reasonable, good faith judgment of
      the Special Servicer, a default in respect of payment on such Serviced
      Loan is reasonably foreseeable, and such modification, waiver, amendment
      or other action is reasonably likely to produce a greater recovery to the
      Certificateholders on a net present value basis than would liquidation;

            (iv) the Special Servicer shall not extend (or, in the case of a
      Performing Serviced Loan, consent to the Master Servicer's extending) the
      date on which any Balloon Payment is scheduled to be due on any Serviced
      Loan to a date beyond the earliest of (A) five years prior to the Rated
      Final Distribution Date, and (B) if such Serviced Loan is secured by a
      Mortgage solely or primarily on the related Mortgagor's leasehold interest
      in the related Mortgaged Property, 20 years (or, to the extent consistent
      with the Servicing Standard, giving due consideration to the remaining
      term of the Ground Lease, ten years) prior to the end of the then current
      term of the related Ground Lease (plus any unilateral options to extend);

            (v) neither the Master Servicer nor the Special Servicer shall make
      or permit any modification, waiver or amendment of any term of, or take
      any of the other acts referenced in this Section 3.20(a) with respect to,
      any Serviced Loan that would result in an Adverse REMIC Event with respect
      to either of REMIC I or REMIC II;

            (vi) subject to applicable law, the related loan documents and the
      Servicing Standard, neither the Master Servicer nor the Special Servicer
      shall permit any modification, waiver or amendment of any term of any
      Serviced Loan unless all related fees and expenses are paid by the related
      Mortgagor;

            (vii) the Special Servicer shall not permit (or, in the case of a
      Performing Serviced Loan, consent to the Master Servicer's permitting) any
      Mortgagor to add or substitute any real estate collateral for its Serviced
      Loan unless the Special Servicer shall have first determined in its
      reasonable, good faith judgment, based upon a Phase I Environmental
      Assessment (and any additional environmental testing that the Special
      Servicer deems necessary and prudent) conducted by an Independent Person
      who regularly conducts Phase I Environmental Assessments, at the expense
      of the Mortgagor, that such additional or substitute collateral is in
      compliance with applicable environmental laws and regulations and that
      there are no circumstances or conditions present with respect to such new
      collateral relating to the use, management or disposal of any Hazardous
      Materials for which investigation, testing, monitoring, containment,
      clean-up or remediation would be required under any then applicable
      environmental laws or regulations; and

            (viii) the Special Servicer shall not permit the release, including
      in connection with a substitution contemplated by clause (vii) above, any
      collateral securing an outstanding Serviced Loan, except as provided in
      Section 3.09(d) or Section 3.26, or except where a Serviced Loan (or, in
      the case of a Cross-Collateralized Group, where such entire
      Cross-Collateralized Group) is satisfied, or except in the case of a
      release where (A) either (1) the use of the collateral to be released will
      not, in the good faith and reasonable judgment of the Special Servicer,
      materially and adversely affect the net operating income being generated
      by or the use of the related Mortgaged Property, or (2) there is a
      corresponding principal pay down of such Serviced Loan in an amount at
      least equal to the appraised value of the collateral to be released (or
      substitute collateral with an appraised value at least equal to that of
      the collateral to be released, is delivered), (B) the remaining Mortgaged
      Property (together with any substitute collateral) is, in the Special
      Servicer's good faith and reasonable judgment, adequate security for the
      remaining Serviced Loan and (C) such release would not, in and of itself,
      result in an Adverse Rating Event with respect to any Class of Rated
      Certificates (as confirmed in writing to the Trustee by each Rating
      Agency);

provided that the limitations, conditions and restrictions set forth in clauses
(i) through (vii) above shall not apply to any act or event (including, without
limitation, a release, substitution or addition of collateral) in respect of any
Serviced Loan that either occurs automatically, or results from the exercise of
a unilateral option by the related Mortgagor within the meaning of Treasury
Regulations Section 1.1001-3(c)(2)(iii), in any event under the terms of such
Serviced Loan in effect on the Closing Date (or, in the case of a Replacement
Mortgage Loan, on the related date of substitution); and provided, further,
that, notwithstanding clauses (i) through (vii) above, neither the Master
Servicer nor the Special Servicer shall be required to oppose the confirmation
of a plan in any bankruptcy or similar proceeding involving a Mortgagor if, in
its reasonable, good faith judgment, such opposition would not ultimately
prevent the confirmation of such plan or one substantially similar; and
provided, further, that, notwithstanding clause (vii) above, neither the Master
Servicer nor the Special Servicer shall be required to obtain any confirmation
of the Certificate ratings from the Rating Agencies to grant, or to subordinate
the lien of Loans to, easements, rights-of-way or similar agreements that do not
materially affect the use or value of a Mortgaged Property or the Mortgagor's
ability to make any payments with respect to the related Loan.

      Notwithstanding anything to the contrary herein, the Special Servicer
(with the consent of the Directing Certificateholder, subject to the limitations
of Section 3.21(f) may, consistent with the Servicing Standard, agree to any
waiver, modification or amendment of a Mortgage Loan that is not in default or
as to which default is not reasonably foreseeable if it consults with counsel
(and if it is determined by the Special Servicer to be necessary, provides the
Trustee with an Opinion of Counsel (which shall be at the expense of the related
Mortgagor or such other Person requesting such modification or, if such expense
cannot be collected from the related Mortgagor or such other Person, to be paid
by the Master Servicer as a Servicing Advance) to obtain advice regarding
whether the contemplated waiver, modification or amendment (i) will not be a
"significant modification" of the Mortgage Loan within the meaning of Treasury
Regulations Section 1.860G-2(b), and (ii) will not cause (x) REMIC I or REMIC II
to fail to qualify as a REMIC for purposes of the Code, or (ii) REMIC I or REMIC
II to be subject to any tax under the REMIC Provisions.

      (b) Neither the Master Servicer nor the Special Servicer shall have any
liability to the Trust, the Certificateholders or any other Person if its
analysis and determination that the modification, waiver, amendment or other
action contemplated by Section 3.20(a) is reasonably likely to produce a greater
recovery to Certificateholders on a net present value basis than would
liquidation, should prove to be wrong or incorrect, so long as the analysis and
determination were made on a reasonable basis by the Special Servicer or the
Master Servicer, as applicable, consistent with the Servicing Standard. Each
such determination shall be evidenced by an Officer's Certificate to such effect
to be delivered by the Special Servicer to the Trustee, the Directing
Certificateholder. The Special Servicer shall include with any such Officer's
Certificate the supporting documentation forming the basis for its conclusion.

      (c) Any payment of interest that is deferred pursuant to Section 3.20(a)
shall not, for purposes hereof, including, without limitation, calculating
monthly distributions to Certificateholders, be added to the unpaid principal
balance or Stated Principal Balance of the related Serviced Loan,
notwithstanding that the terms of such Serviced Loan so permit or that such
interest may actually be capitalized.

      (d) The Master Servicer (as to Performing Serviced Loans) and the Special
Servicer (as to Specially Serviced Loans) each may, as a condition to its
granting any request by a Mortgagor for consent, modification, waiver or
indulgence or any other matter or thing, the granting of which is within the
Master Servicer's or Special Servicer's, as the case may be, discretion pursuant
to the terms of the instruments evidencing or securing the related Serviced Loan
and is permitted by the terms of this Agreement, require that such Mortgagor pay
to it, as additional servicing compensation, a reasonable fee relating to such
consent, modification, waiver or indulgence (not to exceed 1.0% of the unpaid
principal balance of the related Serviced Loan) for the additional services
performed in connection with such request, together with any related costs and
expenses incurred by it; provided that the charging of such fees would not
otherwise constitute a "significant modification" of the Serviced Loan pursuant
to Treasury Regulations Section 1.860G-2(b). All such fees collected by the
Master Servicer and/or the Special Servicer shall be allocable between such
parties, as Additional Master Servicing Compensation and Additional Special
Servicing Compensation, respectively, as provided in Section 3.11.

      (e) All modifications, waivers, amendments and other actions entered into
or taken in respect of the Serviced Loans pursuant to the preceding subsections
of this Section 3.20 shall be in writing. Each of the Master Servicer and the
Special Servicer shall notify the other such party, the Trustee and the
Directing Certificateholder, in writing, of any modification, waiver, amendment
or other action entered into or taken in respect of any Serviced Loan pursuant
to this Section 3.20 and the date thereof, and shall deliver to the Trustee or
the related Custodian for deposit into the related Mortgage File (with a copy to
the other such party), an original counterpart of the agreement relating to such
modification, waiver, amendment or other action, promptly (and in any event
within ten Business Days) following the execution thereof. In addition,
following the execution of any modification, waiver or amendment agreed to by
the Special Servicer pursuant to Section 3.20(a) above, the Special Servicer
shall deliver to the Master Servicer and the Trustee an Officer's Certificate
setting forth in reasonable detail the basis of the determination made by it
pursuant to clause (ii) of Section 3.20(a).

      (f) With respect to any ARD Loan after its Anticipated Repayment Date, the
Master Servicer shall be permitted to waive all or any accrued Excess Interest
if, prior to the related maturity date, the related Mortgagor has requested the
right to prepay the Loan in full together with all payments required by the
Serviced Loan in connection with such prepayment except for all or a portion of
accrued Excess Interest; provided, that the Master Servicer's determination to
waive the right to such accrued Excess Interest is reasonably likely to produce
a greater payment to Certificateholders on a net present value basis than a
refusal to waive the right to such Excess Interest. Any such waiver shall not be
effective until such payment is tendered. The Master Servicer shall have no
liability to the Trust, the Certificateholders or any other person so long as
such determination is based on such criteria. Notwithstanding anything contained
in this Agreement to the foregoing, the Master Servicer shall be required to
seek the consent of the Directing Certificateholder and provide to the Directing
Certificateholder any information that the Directing Certificateholder may
reasonably request in order to grant or deny its consent, provided that such
information is in the possession of the Master Servicer, prior to waiving any
Excess Interest. The Directing Certificateholder's consent to a waiver shall be
deemed granted if the Directing Certificateholder fails to respond to such
request within ten Business Days of its receipt of such request. Except as
permitted in Section 3.20(a), the Special Servicer shall have no right to waive
the payment of Excess Interest.

      (g) The Master Servicer shall not be required to seek the consent of the
Special Servicer or any Certificateholder or obtain any confirmation of the
Certificate ratings from the Rating Agencies to approve the following
modifications, waivers or amendments of the Loans: (i) waivers of minor covenant
defaults (other than financial covenants), including late financial statements;
(ii) releases of (A) non-material parcels of a Mortgaged Property subject to
condemnation; (B) parcels of a Mortgaged Property not given any value in the
underwriting of the Loan; or (C) similar non-material parcels of a Mortgaged
Property; (iii) grants of easements or subordinations of the lien of Loans to
easements that do not materially affect the use or value of a Mortgaged Property
or a borrower's ability to make any payments with respect to the related Loan;
and (iv) approving routine leasing activities, including subordination,
non-disturbance and attornment agreements, with respect to leases (A) where the
related lease constitutes less than the greater of (x) 20% of the total square
footage of the related Mortgaged Property and (y) 20,000 total square feet, (B)
that would be considered "at market rates" (i.e. the space is being leased at
rates which are not materially above or materially below the rates that would be
offered by similarly situated properties where the Mortgaged Property is located
in the reasonable judgment of a commercially prudent commercial mortgage loan
servicer) and (C) that are not ground leases); provided that (w) any such
modification, waiver or amendment would not in any way affect a payment term of
the Certificates, (x) any such modification, waiver or amendment would not
constitute a "significant modification" of such Loan pursuant to Treasury
Regulations Section 1.860G-2(b) and would not otherwise constitute an Adverse
REMIC Event or Adverse Grantor Trust Event (y) agreeing to any such
modification, waiver or amendment would be consistent with the Servicing
Standard, and (z) agreeing to any such modification, waiver or amendment shall
not violate the terms, provisions or limitations of this Agreement or any other
document contemplated hereby.

      For the avoidance of doubt, and without limiting the generality of the
foregoing, any request for the disbursement of earnouts or holdback amounts with
respect to any Mortgage Loan set forth on Schedule XIII attached hereto received
by the Master Servicer shall be submitted to the Special Servicer for approval
(which approval shall be deemed given if the request is not denied by the
Special Servicer in writing to the Master Servicer within ten Business Days of
the Special Servicer's receipt of such request). For purposes of this Agreement,
"disbursement of earnouts or holdback amounts" shall mean the disbursement or
funding to a Mortgagor of previously unfunded, escrowed or otherwise reserved
portions of the loan proceeds of the related Mortgage Loan until certain
conditions precedent thereto relating to the satisfaction of performance related
criteria (i.e., project reserve thresholds, lease-up requirements, sales
requirements, etc.) as set forth in the applicable Mortgage Loan documents, have
been satisfied.

      The Special Servicer, with respect to any request that the Master Servicer
is required to seek the approval or consent thereof under this Section 3.20(g),
shall respond to the Master Servicer in writing (which may be via e-mail or
facsimile) of its decision to grant or deny the Master Servicer's request for
approval and consent within ten Business Days of its receipt of such request and
all information reasonably requested by the Special Servicer If the Special
Servicer so fails to respond to the Master Servicer within the time period
referenced in the immediately preceding sentence, such approval and consent
shall be deemed granted.

      (h) In connection with granting an extension of the maturity date of any
Loan (other than any Non-Serviced Mortgage Loan) in accordance with Section
3.20(a), the Special Servicer, in the case of a Specially Serviced Loan, and the
Master Servicer, in the case of a Performing Serviced Loan, shall each cause the
related Mortgagor to agree, if it has not already done so pursuant to the
existing Loan documents, to thereafter deliver to the Special Servicer, the
Trustee and the Directing Certificateholder audited operating statements on a
quarterly basis with respect to the related Mortgaged Property, provided that
the Special Servicer or the Master Servicer, as the case may be, may, in its
sole discretion, waive the requirement that such statements be audited.

      (i) If the Master Servicer or the Special Servicer collects a modification
fee or a modification application fee in connection with a modification or
proposed modification of a Serviced Loan, then the Master Servicer or the
Special Servicer, as applicable, will apply that fee to cover the costs and
expenses associated with that modification or proposed modification that are not
otherwise paid by the related Mortgagor and that would otherwise be payable or
reimbursable out of the Trust Fund, including any Rating Agency fees and
expenses. Any remaining portion of such modification fee (such remaining
portion, a "Net Modification Fee") or of such modification application fee (such
remaining portion, a "Net Modification Application Fee") will be applied as
additional compensation to the Master Servicer or the Special Servicer in
accordance with Section 3.11.

      Section 3.21 Transfer of Servicing Between Master Servicer and Special
Servicer; Record Keeping; Asset Status Report; Directing Certificateholder.

      (a) Upon determining that a Servicing Transfer Event has occurred with
respect to any Serviced Loan, the Master Servicer shall immediately give notice
thereof to the Directing Certificateholder and deliver the related Servicing
File to the Special Servicer and shall use its best efforts to provide the
Special Servicer with all information, documents (or copies thereof) and records
(including records stored electronically on computer tapes, magnetic discs and
the like) relating to the Serviced Loan and reasonably requested by the Special
Servicer to enable it to assume its functions hereunder with respect thereto
without acting through a Sub-Servicer. Notwithstanding anything in Section
2.01(b) or any other provision of this Agreement to the contrary, the copying
and delivery of such documents, instruments, items, records and information
shall not be at the expense of the Special Servicer. At its option, although its
Sub-Servicing Agreement is temporarily suspended, the related Sub-Servicer,
without any compensation therefor, may retain Loans on its computer systems
while such Loans are Specially Serviced Loans, provided that no Sub-Servicer
shall take any action with respect thereto so long as such Loan is a Specially
Serviced Loan and provided that the Master Servicer shall assume all the Master
Servicing duties with respect to that Loan as provided in the second succeeding
paragraph. The Master Servicer shall use its best efforts to comply with the
third preceding sentence within five Business Days of the occurrence of each
related Servicing Transfer Event. The Master Servicer shall deliver to each
Holder of a Non-Registered Certificate (except a Class V, Class R-I or Class
R-II Certificate) that shall have requested a copy of any such notice a copy of
the notice of such Servicing Transfer Event provided by the Master Servicer to
the Special Servicer pursuant to this Section. No later than ten Business Days
before the Master Servicer is required to deliver a copy of the related
Servicing File to the Special Servicer, it shall review the Servicing File and
request from the Trustee any material documents that it is aware are missing
from the Servicing File. If the related Sub-Servicer elects not to retain
Specially Serviced Loans on its computer systems, then such Sub-Servicer shall
return all Mortgage Files to the Master Servicer.

      Upon determining that a Specially Serviced Loan has become a Corrected
Serviced Loan, the Special Servicer shall promptly give notice thereof to the
Master Servicer and to the Directing Certificateholder, and return the related
Servicing File to the Master Servicer within five Business Days and upon giving
such notice and returning such Servicing File, to the Master Servicer, the
Special Servicer's obligation to service such Loan, and the Special Servicer's
right to receive the Special Servicing Fee with respect to such Loan, shall
terminate, and the obligations of the Master Servicer to service and administer
such Loan shall resume.

      Notwithstanding other provisions in this Agreement to the contrary, the
Master Servicer shall remain responsible for the accounting, data collection,
reporting and other basic Master Servicer administrative functions with respect
to the Specially Serviced Loans, provided that the Master Servicer shall
establish reasonable procedures as to the application of Special Servicer
receipts and tendered payments, and the Special Servicer shall have the
exclusive responsibility for and authority over all contacts (including
collection, which information shall be provided by the Master Servicer) with and
notices to Mortgagors and similar matters relating to each Specially Serviced
Loan and the related Mortgaged Property.

      Also notwithstanding anything herein to the contrary, in connection with
the transfer to the Special Servicer of the servicing, subject to Section 2.03,
of a Cross-Collateralized Mortgage Loan as a result of a Servicing Transfer
Event or the reassumption of servicing responsibilities by the Master Servicer
with respect to any such Serviced Loan upon its becoming a Corrected Serviced
Loan, the Master Servicer and the Special Servicer shall each transfer to the
other, as and when applicable, the servicing of all other Cross-Collateralized
Mortgage Loans constituting part of the same Cross-Collateralized Group;
provided that no Cross-Collateralized Mortgage Loan may become a Corrected
Serviced Loan at any time that a continuing Servicing Transfer Event exists with
respect to another Cross-Collateralized Mortgage Loan in the same
Cross-Collateralized Group.

      (b) In servicing any Specially Serviced Loans, the Special Servicer shall
provide to the Trustee the originals, of documents contemplated by the
definition of "Mortgage File" and generated while such Serviced Loan is a
Specially Serviced Loan, for inclusion in the related Mortgage File (with a copy
of each such original to the Master Servicer), and provide to the Master
Servicer copies of any additional related Serviced Loan information, including
correspondence with the related Mortgagor generated while such Serviced Loan is
a Specially Serviced Loan.

      (c) Notwithstanding anything in this Agreement to the contrary, in the
event that the Master Servicer and the Special Servicer are the same Person, all
notices, certificates, information, consents and documents required to be given
or delivered by the Master Servicer to the Special Servicer or vice versa shall
be deemed to be given or delivered, as the case may be, without the necessity of
any action on such Person's part.

      (d) No later than 45 days after the date the servicing of a Serviced Loan
is transferred from the Master Servicer to the Special Servicer pursuant to the
terms of this Agreement, the Special Servicer shall deliver to each Rating
Agency, the Master Servicer, the Trustee and the Directing Certificateholder a
report (the "Asset Status Report") with respect to such Serviced Loan and the
related Mortgaged Property. Such Asset Status Report shall set forth the
following information to the extent reasonably determinable:

            (i) a summary of the status of such Specially Serviced Loan and any
      negotiations with the related Mortgagor;

            (ii) a discussion of the legal and environmental considerations
      reasonably known to the Special Servicer (including without limitation by
      reason of any Phase I Environmental Assessment and any additional
      environmental testing contemplated by Section 3.09), consistent with the
      Servicing Standard, that are applicable to the exercise of remedies set
      forth herein and to the enforcement of any related guaranties or other
      collateral for the related Serviced Loan and whether outside legal counsel
      has been retained;

            (iii) the most current rent roll and income or operating statement
      available for the related Mortgaged Property;

            (iv) the Special Servicer's recommendations on how such Specially
      Serviced Loan might be returned to performing status and returned to the
      Master Servicer for regular servicing or otherwise realized upon;

            (v) the Appraised Value of the Mortgaged Property together with the
      assumptions used in the calculation thereof (which the Special Servicer
      may satisfy by providing a copy of the last obtained Appraisal); and

            (vi) such other information as the Special Servicer deems relevant
      in light of the Servicing Standard.

      If within ten Business Days of receiving an Asset Status Report, the
Directing Certificateholder does not disapprove such Asset Status Report in
writing, the Special Servicer shall implement the recommended action as outlined
in such Asset Status Report; provided, however, that the Special Servicer may
not take any action that is contrary to applicable law, the Servicing Standard
or the terms of the applicable loan documents; provided, further that if the
Special Servicer determines that the failure to take any action set forth in
such Asset Status Report would violate the Servicing Standard, the Special
Servicer may implement the recommended action outlined in such Asset Status
Report without waiting for the Directing Certificateholder's response. If the
Directing Certificateholder disapproves such Asset Status Report, the Special
Servicer will revise such Asset Status Report and deliver to the Directing
Certificateholder, the Rating Agencies, the Trustee and the Master Servicer a
new Asset Status Report as soon as practicable, but no later than 30 days after
such disapproval. The Special Servicer shall revise such Asset Status Report as
described above in this Section 3.21(d) until the earlier of (x) the delivery by
the Directing Certificateholder of an affirmative approval in writing of such
revised Asset Status Report, (y) the failure of the Directing Certificateholder
to disapprove such revised Asset Status Report in writing within ten Business
Days of its receipt thereof; or (z) the passage of 90 days from the date of
preparation of the initial version of the Asset Status Report. Following the
earliest of such events, and subject to the terms of Section 3.20, the Special
Servicer shall implement the recommended action as outlined in the most recent
version of such Asset Status Report (provided that the Special Servicer shall
not take any action that is contrary to applicable law or the terms of the
applicable loan documents or that violates the Servicing Standard or fail to
take any action, if the failure to take such action would violate the Servicing
Standard). The Special Servicer may, from time to time, modify any Asset Status
Report it has previously delivered and implement the new action in such revised
report so long as such revised report has been prepared, reviewed and either
approved or not rejected as provided above. For the avoidance of doubt, any
action to be taken (or not taken) by the Special Servicer with respect to an
Asset Status Report must be in all respects consistent with the Servicing
Standard and applicable law. The Special Servicer shall have the authority to
meet with the Mortgagor for any Specially Serviced Loan and take such actions
consistent with the Servicing Standard and the related Asset Status Report. The
Special Servicer shall not take any action inconsistent with the related Asset
Status Report, unless such action would be required to act in accordance with
the Servicing Standard.

      (e) The Special Servicer or the Master Servicer, as applicable, shall
provide the Directing Certificateholder with not less than ten Business Days'
prior notice (except as provided in Section 3.08(a) of any Special Action (as
described below) that the Special Servicer or the Master Servicer, as
applicable, proposes to take and, in the case of the Special Action described in
clause (vi) below, the Special Servicer shall also contemporaneously notify the
Master Servicer; provided, however, that if a shorter period of notice is
necessary to avoid the occurrence of an Adverse REMIC Event or a violation of
Section 3.21(f), then the required period of notice shall be such shorter
period.

      The Directing Certificateholder shall be entitled to advise the Special
Servicer with respect to any Special Action, and notwithstanding anything to the
contrary contained herein, the Special Servicer shall not take any Special
Action or consent to the taking of any Special Action if the Directing
Certificateholder has objected thereto by the close of business on the tenth
Business Day following its receipt of notice thereof, or if a shorter period was
necessitated in accordance with the preceding sentence, by the close of business
on the date on which such shorter period expires (it being understood that the
failure of the Directing Certificateholder to respond in the time frame set
forth in the Approval Provisions shall be deemed to constitute such party's
approval of such action); provided, however, that (x) the ability of the
Directing Certificateholder to so advise or object shall in all events be
subject to Section 3.21(f) and shall not violate the provisions of the Mezzanine
Intercreditor Agreement (with respect to any Mortgage Loan with a related
Mezzanine Loan), (y) the Master Servicer or the Special Servicer, as applicable,
shall not follow any such advice or objection that would result in a violation
of this Agreement, including Section 3.21(f), the loan documents, any
Intercreditor Agreement or applicable laws or otherwise result in an Adverse
REMIC Event or violate the provisions of the Mezzanine Intercreditor Agreement
(with respect to any Mortgage Loan with a related Mezzanine Loan) and (z) if (a)
the Directing Certificateholder (b) the Special Servicer or Master Servicer, as
applicable, together cannot agree within 10 Business Days upon a course of
action with respect to any Special Action, then the Special Servicer or Master
Servicer, as applicable, shall implement its proposed course of action and (c)
if the Master Servicer or the Special Servicer determines that immediate action
is necessary in accordance with the Servicing Standard, it may take such action
prior to the expiration of the ten Business Day period. Subject to the
foregoing, in connection with the implementation of any Special Action or the
extension of the maturity date of a Serviced Loan, the Master Servicer or
Special Servicer shall comply with the Approval Provisions, as applicable. For
purposes hereof, "Special Action" means each of the following actions:

            (i) any proposed or actual foreclosure upon or comparable conversion
      (which may include acquisitions of an REO Property) of the ownership of
      properties securing such of the Specially Serviced Loans as come into and
      continue in default;

            (ii) any modification or waiver of a Loan;

            (iii) any proposed or actual sale of a Defaulted Serviced Loan or
      REO Property (other than in connection with the termination of the Trust
      Fund or pursuant to Section 3.18);

            (iv) any determination to bring an REO Property into compliance with
      applicable environmental laws or to otherwise address Hazardous Materials
      located at an REO Property;

            (v) any acceptance of substitute or additional collateral for a Loan
      unless the lender is required to accept such collateral by the underlying
      loan documents and any release of the real estate collateral securing the
      Loan (except as permitted by clause (ii) of Section 3.20(g));

            (vi) any waiver of a "due-on-sale" clause (except as set forth in
      Section 3.08(a)) or "due-on-encumbrance" clause;

            (vii) any acceptance or approval of acceptance or consent to
      acceptance of an assumption agreement releasing a borrower from liability
      under a Serviced Loan (except as set forth in Section 3.08(a));

            (viii) any acceptance of a discounted payoff of a Mortgage Loan;

            (ix) any release of earnout reserve funds (other than as expressly
      required, with no lender discretion and/or is automatic, under the related
      loan documents);

            (x) the release of any letters of credit (other than as expressly
      required, with no lender discretion and/or is automatic, under the related
      loan documents);

            (xi) any approval of a material lease (in excess of 20% of the
      leasable space) (other than as expressly required, with no lender
      discretion and/or is automatic, under the related loan documents); or

            (xii) any change in property manager or franchise (other than as
      expressly required, with no lender discretion and/or is automatic, under
      the related loan documents).

      (f) Notwithstanding anything contained in this Agreement to the contrary,
(i) no objection, failure to approve or direction of the Directing
Certificateholder shall (A) require or cause the Master Servicer or the Special
Servicer, as applicable, to violate the terms of any Loan then serviced by it,
applicable law or any provision of this Agreement, including the Master
Servicer's obligation or the Special Servicer's obligation to act in accordance
with the Servicing Standard and to maintain the REMIC status of each of REMIC I
and REMIC II, or (B) result in the imposition of a "prohibited transaction" or
"prohibited contribution" tax under the REMIC Provisions, or (C) expose the
Master Servicer, the Special Servicer, the Depositor, the Trust Fund, the
Trustee or their officers, directors, employees or agents to any claim, suit or
liability, or (D) materially expand the scope of the Special Servicer's or the
Master Servicer's responsibilities under this Agreement (the "Prohibited
Actions"), and (ii) in no event shall the Master Servicer or the Special
Servicer take any action or refrain from taking any action if the taking of such
action or the refraining from taking of such action would violate the Servicing
Standard or the REMIC Provisions. The Master Servicer or Special Servicer, as
applicable, shall disregard any such direction, failure to approve or objection.

      The Directing Certificateholder shall have no liability to the
Certificateholders other than the Holders of the Controlling Class, and shall
have no liability to any Holder of the Controlling Class for any action taken,
or for refraining from the taking of any action, pursuant to this Agreement, or
for errors in judgment; provided, however, that the Directing Certificateholder
or any Controlling Holder, as applicable, will not be protected against any
liability to any Holder of the Controlling Class would otherwise be imposed by
reason of willful misfeasance, bad faith or negligence in the performance of
duties or by reason of reckless disregard of obligations or duties. By its
acceptance of a Certificate, each Certificateholder confirms its understanding
that the Directing Certificateholder or any Controlling Holder, as applicable,
may take actions that favor the interests of one or more Classes of the
Certificates over other Classes of the Certificates, and that the Directing
Certificateholder or any Controlling Holder, as applicable, may have special
relationships and interests that conflict with those of Holders of some Classes
of the Certificates, that the Directing Certificateholder or any Controlling
Holder, as applicable, may act solely in the interests of the Holders of the
Controlling Class, that none of the Directing Certificateholder or any
Controlling Holder, as applicable, has any duties to the Holders of any Class of
Certificates other than the Controlling Class, that none of the Directing
Certificateholder or any Controlling Holder, as applicable, shall be deemed to
have been negligent or reckless, or to have acted in bad faith or engaged in
willful misfeasance, by reason of its having acted solely in the interests of
the Holders of the Controlling Class or any Controlling Holder, as applicable,
that none of the Directing Certificateholder or any Controlling Holder, as
applicable, shall have any liability whatsoever for having so acted, and no
Certificateholder may take any action whatsoever against the Directing
Certificateholder or any Controlling Holder, as applicable, or any director,
officer, employee, agent or principal thereof for having so acted.

      (g) [Reserved.]

      (h) In connection with any proposed Special Action, the Special Servicer
shall prepare a summary of such proposed Special Action and an analysis of
whether or not such Special Action is reasonably likely to produce a greater
recovery on a present value basis than not taking such action or making such
determination and shall provide to the Directing Certificateholder such summary
and such information as is in its possession or control and is reasonably
requested by the Directing Certificateholder as may be necessary in the
reasonable judgment of the Directing Certificateholder in order to make a
determination with respect to such Special Action.

      Section 3.22 Sub-Servicing Agreements.

      (a) The Master Servicer and the Special Servicer may each enter into
Sub-Servicing Agreements to provide for the performance by third parties of any
or all of its obligations hereunder, provided that, in each case, the
Sub-Servicing Agreement: (i) insofar as it affects the Trust, is consistent with
this Agreement in all material respects; (ii) expressly or effectively provides
that if the Master Servicer or Special Servicer, as the case may be, shall for
any reason no longer act in such capacity hereunder (including, without
limitation, by reason of an Event of Default), any successor to the Master
Servicer or the Special Servicer, as the case may be, hereunder (including the
Trustee if the Trustee has become such successor pursuant to Section 7.02) may
thereupon either assume all of the rights and, except to the extent they arose
prior to the date of assumption, obligations of the Master Servicer or Special
Servicer, as the case may be, under such agreement or, except with respect to
those Sub-Servicing Agreements listed on Schedule II and subject to the
provisions of Section 3.22(d), terminate such rights and obligations; (iii) in
the case of a Sub-Servicing Agreement entered into by the Master Servicer,
expressly or effectively provides that such agreement shall be suspended with
respect to any Serviced Loan serviced thereunder at the time such Serviced Loan
becomes a Specially Serviced Loan unless such Serviced Loan is then sub-serviced
by Midland Loan Services, Inc. or its permitted successors and assigns pursuant
to such Sub-Servicing Agreement (but only until such time as such Serviced Loan
becomes a Corrected Serviced Loan); (iv) in the case of a Sub-Servicing
Agreement entered into by the Special Servicer, relates only to Specially
Serviced Loans or REO Properties and expressly or effectively provides that such
agreement shall terminate with respect to any such Serviced Loan that becomes a
Corrected Serviced Loan; (v) in the case of a Sub-Servicing Agreement entered
into by the Master Servicer, provides that the related Sub-Servicer shall comply
with all reasonable requests for additional information made by the Master
Servicer (provided, however, that the related Sub-Servicer shall not be required
to furnish the same information to the Master Servicer more than once) and,
further, provides that the failure of the related Sub-Servicer to furnish the
Master Servicer on a timely basis with any required reports, statements or other
information, including without limitation, the reports referred to in Section
3.12(a), either (A) shall permit the Master Servicer to make necessary inquiries
of the related borrower directly or (B) shall (subject to a cure period not to
exceed 60 days) constitute an event of default thereunder for which the Master
Servicer may terminate such Sub-Servicer without payment of any termination fee
(it being understood that notwithstanding anything to the contrary in this
clause (v), the obligations of a Sub-Servicer in respect of the second sentence
of Section 3.12(b) may be limited to the provision of reports as agreed between
the Master Servicer and such Sub-Servicer and response to reasonable inquiries
from the Master Servicer with respect thereto); (vi) subject to Section 3.08 and
Section 3.20(g), does not authorize any Sub-Servicer to approve a modification
or assumption of any Serviced Loan without the approval of the Master Servicer,
in the case of Performing Serviced Loans or of the Special Servicer, in the case
of Specially Serviced Loans or authorizes the Sub-Servicer to foreclose any
Serviced Loan without the approval of the Special Servicer; (vii) imposes no
liability whatsoever on the Trustee or the Certificateholders with respect to
anything contained therein (provided, that nothing herein shall preclude the
Master Servicer or the Special Servicer from seeking any indemnification that it
would be otherwise entitled to under this Agreement); (viii) provides that the
Master Servicer and the Special Servicer each shall pay the fees of any
Sub-Servicer retained by it in accordance with the respective Sub-Servicing
Agreement and, in any event, from its own funds; and (ix) contain events of
default materially similar to an Event of Default hereunder for the Master
Servicer and/or the Special Servicer, as the case may be. References in this
Agreement to actions taken or to be taken by the Master Servicer or the Special
Servicer, as the case may be, include actions taken or to be taken by a
Sub-Servicer on behalf of the Master Servicer or the Special Servicer, as the
case may be; and, in connection therewith, all amounts advanced by any
Sub-Servicer to satisfy the obligations of the Master Servicer hereunder to make
Advances shall be deemed to have been advanced by the Master Servicer out of its
own funds and, accordingly, such Advances shall be recoverable by such
Sub-Servicer in the same manner and out of the same funds as if such
Sub-Servicer were the Master Servicer, and, for so long as they are outstanding,
such Advances shall accrue interest in accordance with Section 3.11(g) and/or
Section 4.03(d), such interest to be allocable between the Master Servicer and
such Sub-Servicer as they may agree. For purposes of this Agreement, the Master
Servicer and the Special Servicer each shall be deemed to have received any
payment when a Sub-Servicer retained by it receives such payment. The Master
Servicer and the Special Servicer each shall notify the other such party, the
Trustee and the Depositor in writing promptly of the appointment by it of any
Sub-Servicer, and shall deliver to the Trustee copies of all Sub-Servicing
Agreements, and any amendments thereto and modifications thereof, entered into
by it promptly upon its execution and delivery of such documents.

      (b) Each Sub-Servicer actually performing servicing functions (i) shall be
authorized to transact business in the state or states in which the Mortgaged
Properties for the Serviced Loans it is to service are situated, if and to the
extent required by applicable law, and (ii) to the extent sub-servicing
multifamily loans, shall be an approved conventional seller/servicer of
multifamily mortgage loans for Freddie Mac or Fannie Mae or a HUD-Approved
Servicer.

      (c) The Master Servicer and the Special Servicer, for the benefit of the
Trustee and the Certificateholders shall (at no expense to the Trustee, the
Certificateholders or the Trust) each monitor the performance and enforce the
obligations of its Sub-Servicers under the related Sub-Servicing Agreements.
Such enforcement, including, without limitation, the legal prosecution of
claims, termination of Sub-Servicing Agreements in accordance with their
respective terms and the terms of this Agreement, and the pursuit of other
appropriate remedies, shall be in such form and carried out to such an extent
and at such time as the Master Servicer or the Special Servicer, as the case may
be, in its reasonable business judgment, would require were it the owner of the
Serviced Loans. Promptly upon becoming aware of a default under any
Sub-Servicing Agreement to which it is a party, the Master Servicer or the
Special Servicer, as the case may be, shall notify each of the other parties
hereto and the Trustee, and then the Trustee shall provide a copy of such notice
to the Directing Certificateholder, and, in accordance with Section 8.12(b),
shall, upon request, provide a copy of such notice to each Holder of a
Non-Registered Certificate (except a Class V, Class R-I or Class R-II
Certificate) of any such default.

      (d) With respect to the Sub-Servicing Agreements in effect as of the
Closing Date that are listed on Schedule II, the initial Master Servicer hereby
agrees that it shall not, in its capacity as Master Servicer, terminate any
Sub-Servicer thereunder without cause. In the event of the resignation, removal
or other termination of the initial Master Servicer (or any successor Master
Servicer) hereunder for any reason, the successor to the initial Master Servicer
(or to such successor Master Servicer) shall elect, with respect to any
Sub-Servicing Agreement existing at the time of such termination (i) to assume
the rights and obligations of the predecessor Master Servicer under such
Sub-Servicing Agreement and continue the sub-servicing arrangements thereunder
on the same terms (including without limitation the obligation to pay the same
sub-servicing fees and other compensation), (ii) to enter into a new
Sub-Servicing Agreement with such Sub-Servicer and on such terms as the new
Master Servicer and such Sub-Servicer shall mutually agree (it being understood
that such Sub-Servicer is under no obligation to accept any such new
Sub-Servicing Agreement or to enter into or continue negotiations with the new
Master Servicer) or (iii) except with respect to those Sub-Servicing Agreements
listed on Schedule II, which may only be terminated for cause, to terminate such
Sub-Servicing Agreement without cause provided that such Sub-Servicing
Agreements have events of default that are similar to the Events of Default set
forth in Section 7.01. Nothing in the foregoing provisions of this Section
3.22(d) shall limit the ability of the initial or a successor Master Servicer to
terminate a Sub-Servicer at any time for cause; provided, however, that the
parties hereto understand and agree that the refusal or failure of a
Sub-Servicer to enter into or continue negotiations with a successor Master
Servicer concerning a new Sub-Servicing Agreement shall not constitute cause for
termination. References in this Section 3.22(d) to Master Servicer, successor
Master Servicer or subsequent successor Master Servicer shall mean the Trustee,
if it is then Master Servicer, successor Master Servicer or subsequent Master
Servicer pursuant to the operation of Section 7.02.

      (e) In the event the Trustee or its designee assumes the rights and
obligations of the Master Servicer or the Special Servicer under any
Sub-Servicing Agreement, the Master Servicer or the Special Servicer, as the
case may be, at its expense shall, upon request of the Trustee, deliver to the
assuming party all documents and records relating to such Sub-Servicing
Agreement and the Serviced Loans then being serviced thereunder and an
accounting of amounts collected and held on behalf of it thereunder, and
otherwise use its best efforts to effect the orderly and efficient transfer of
the Sub-Servicing Agreement to the assuming party.

      (f) Notwithstanding any Sub-Servicing Agreement, the Master Servicer and
the Special Servicer shall each remain obligated and liable to the Trustee and
the Certificateholders for the performance of its obligations and duties under
this Agreement in accordance with the provisions hereof to the same extent and
under the same terms and conditions as if it alone were servicing and
administering the Serviced Loans for which it is responsible.

      (g) Notwithstanding anything to the contrary set forth herein, any account
established and maintained by a Sub-Servicer pursuant to a Sub-Servicing
Agreement with the Master Servicer shall for all purposes under this Agreement
be deemed to be an account established and maintained by the Master Servicer.

      (h) Each Sub-Servicer pursuant to its related Sub-Servicing Agreement
shall retain the original of any letter of credit that has been issued in
connection with any Serviced Loan that it sub-services pursuant to such
agreement on behalf of the Master Servicer for the benefit of the
Certificateholders provided that it shall provide a copy of such letter of
credit to the Master Servicer.

      (i) The Master Servicer and the Special Servicer shall use commercially
reasonable efforts (including enforcement as such term is described in Section
3.22(c)) to cause each Additional Servicer and/or Servicing Function Participant
with which it has entered into a servicing relationship with respect to the
Mortgage Loans to, forward a copy of each report or statement prepared by such
party pursuant to Section 11.09, 11.10 and/or 11.11 to the Rating Agencies and
the Directing Certificateholder.

      Section 3.23 Designation of the Special Servicer by the Majority
Certificateholder of the Controlling Class.

      The Majority Certificateholder of the Controlling Class may at any time
and from time to time terminate (with or without cause) and replace any existing
Special Servicer or any Special Servicer that has resigned or otherwise ceased
to serve as Special Servicer. Such Majority Certificateholder shall so designate
a Person to so serve by the delivery to the Trustee of a written notice stating
such designation. The Trustee shall, promptly after receiving any such notice,
so notify the Rating Agencies. The designated Person shall become the Special
Servicer as of the date the Trustee shall have received: (i) written
confirmation from each Rating Agency stating that if the designated Person were
to serve as Special Servicer hereunder, none of the then current ratings
assigned by such Rating Agency to the respective Classes of the Certificates
would be downgraded, qualified (if applicable) or withdrawn as a result thereof;
(ii) a written acceptance of all obligations of the Special Servicer under this
Agreement, executed by the designated Person; and (iii) an Opinion of Counsel
(at the expense of the Person designated to become the Special Servicer) to the
effect that the designation of such Person to serve as Special Servicer is in
compliance with this Section 3.23, that upon the execution and delivery of the
written acceptance referred to in the immediately preceding clause (ii), the
designated Person shall be bound by the terms of this Agreement and that this
Agreement shall be enforceable against the designated Person in accordance with
its terms. The existing Special Servicer shall be deemed to have resigned
simultaneously with such designated Person's becoming the Special Servicer
hereunder; provided, however, that (i) the terminated or resigned, as
applicable, Special Servicer shall continue to be entitled to receive all
amounts accrued or owing to it under this Agreement on or prior to the effective
date of such resignation, whether in respect of Servicing Advances or otherwise,
(ii) it shall be entitled to certain Workout Fees thereafter received to the
extent permitted by Section 3.11(c), and (iii) it and its directors, officers,
employees and agents shall continue to be entitled to the benefits of Section
6.03, notwithstanding any such termination or resignation. Such terminated
Special Servicer shall cooperate with the Trustee and the replacement Special
Servicer in effecting the termination of its responsibilities and rights
hereunder, including, without limitation, the transfer within two Business Days
to the replacement Special Servicer for administration by it of all cash amounts
that shall at the time be or should have been credited by the terminated Special
Servicer to the REO Account or delivered to the Master Servicer or that are
thereafter received by the terminated Special Servicer with respect to Specially
Serviced Loans and REO Properties and the execution and delivery of such
documents acknowledging its termination as Special Servicer as may be required
by any Rating Agency. The Majority Certificateholder of the Controlling Class
shall be responsible for paying any costs associated with such replacement,
including the reasonable costs of any servicing transfer.

      The successor Special Servicer shall notify the Depositor and the Trustee
of any appointment contemplated by this Section 3.23 at least two Business Days
prior to the effective date thereof and shall provide the Depositor and the
Trustee with all information reasonably requested by the Depositor to comply
with its reporting obligation under Item 6.02 of Form 8-K not later than the
effective date of such appointment.

      The terminated Special Servicer (i) shall continue to be entitled to
receive all amounts accrued or owing to it under this Agreement on or prior to
the effective date of such termination, whether in respect of Servicing Advances
or otherwise, (ii) it shall be entitled to certain Workout Fees thereafter
received to the extent permitted by Section 3.11(c), and (iii) it and its
directors, officers, employees and agents shall continue to be entitled to the
benefits of Section 6.03, notwithstanding any such termination. Such terminated
Special Servicer shall cooperate with the Trustee and the replacement Special
Servicer in effecting the termination of its responsibilities and rights
hereunder, including, without limitation, the transfer within two Business Days
to the replacement Special Servicer for administration by it of all cash amounts
that shall at the time be or should have been credited by the terminated Special
Servicer to the REO Account or delivered to the Master Servicer or that are
thereafter received by the terminated Special Servicer with respect to Specially
Serviced Loans and REO Properties and the execution and delivery of such
documents acknowledging its termination as Special Servicer as may be required
by any Rating Agency.

      Section 3.24 Confidentiality.

      Notwithstanding any terms to the contrary in Section 3.19(a), the Master
Servicer and the Special Servicer will use reasonable efforts to keep
confidential and not disclose to any Person other than each other, the
Depositor, the Trustee, a Controlling Class Certificateholder, the Sub-Servicer
(with respect to any Serviced Loans it is sub-servicing), a Borrower (with
respect to the related Serviced Loan), any Certificateholder, any Companion Loan
Holder and the Rating Agencies, any information that it obtains in its capacity
as Master Servicer or Special Servicer with respect to the Serviced Loans or any
related Mortgagor including, without limitation, credit information with respect
to any such Mortgagor (collectively, "Confidential Information"), except (i) any
officers, directors and employees of the Master Servicer or Special Servicer (or
any officers, directors and employees of any Affiliates of the Master Servicer
or Special Servicer); (ii) auditors of the Master Servicer or the Special
Servicer and any agents, financial or tax advisors, attorneys, accountants and
professional consultants retained by the Master Servicer or the Special Servicer
in connection with the transactions contemplated by this Agreement that have
been informed of the confidential nature of the information provided to them;
(iii) each Mortgage Loan Seller with respect to information relating to the
Loans transferred into the Trust by such Mortgage Loan Seller; (iv) a potential
purchaser of servicing rights hereunder that has agreed to keep such information
confidential; (v) to the extent the Master Servicer or Special Servicer deems
such disclosure to be reasonably necessary in carrying out its duties pursuant
to this Agreement or any Sub-Servicing Agreement; (vi) to the extent such
information is publicly available or otherwise available from sources unrelated
to this transaction; (vii) to the extent such disclosure is required by law or
court order or is demanded pursuant to a subpoena; (viii) to the extent such
information is required to be delivered to third parties (including, without
limitation, property inspectors, tax service companies, insurance carriers, and
data systems vendors) in connection with the performance of the Master
Servicer's or the Special Servicer's obligations hereunder; or (ix) to the
extent the Depositor consents in writing to such disclosure. For purposes of
this paragraph, the terms "Master Servicer" and "Special Servicer" shall mean
the divisions or departments of such corporate entities involved in providing
services hereunder and their respective officers, directors and employees.
Notwithstanding anything in this Section 3.24 to the contrary, the Master
Servicer, and any Sub-Servicer with the prior written permission of the Master
Servicer, may disseminate pool-wide and general statistical information relating
to the Loans and the Loan portfolio being serviced (as to any Sub-Servicer,
limited to its own sub-serviced portfolio), so long as no Mortgagors are
identified.

      Section 3.25 No Solicitation of Prepayments.

      Neither the Master Servicer nor the Special Servicer shall solicit or
permit any Affiliate to solicit, either directly or indirectly, prepayments from
any Mortgagors under the Loans; provided, however, that the foregoing
restriction shall not be interpreted to prohibit such solicitation by a division
or department of, or an Affiliate of, the Master Servicer or the Special
Servicer, or otherwise by a division or department of, or an Affiliate of, the
Master Servicer or the Special Servicer if such solicitation occurs incidentally
in the normal course of business and such solicitation is not conducted, in
whole or in part, (i) by an individual engaged at any time in activities
relating to the servicing of Loans or (ii) based upon or otherwise with the
benefit of information or documentation relating to the Certificates obtained by
or through the business unit within the Master Servicer or Special Servicer
responsible for servicing the Loans, including without limitation any listing of
the Loans or related Mortgagors or Mortgaged Properties. Each Sub-Servicing
Agreement shall contain a provision identical to the foregoing with respect to
the related Sub-Servicer.

      Section 3.26 Certain Matters with Respect to Mortgage Loans Permitting
Defeasance, Franchise Mortgage Loans and Certain Mortgage Loans Permitting
Additional Debt.

      (a) With respect to each Mortgage Loan as to which the Master Servicer
shall have the discretion pursuant to the terms thereof to require the related
Mortgagor to post defeasance collateral consisting of U.S. government
securities, within the meaning of Treasury Regulations Section
1.860G-2(a)(8)(i), in an amount sufficient to make all scheduled payments under
the Mortgage Note when due in lieu of making a permitted prepayment, the Master
Servicer shall so require defeasance, provided the Master Servicer has received
an Opinion of Counsel that such defeasance complies with Treasury Regulations
Section 1.860G-2(a)(8). The Master Servicer may accept as defeasance collateral
any "government security," within the meaning of Treasury Regulations Section
1.860G-(2)(a)(8)(i), notwithstanding any more restrictive requirements in the
Mortgage.

      (b) The Master Servicer shall require, as a condition to the exercise by
the Mortgagor of any defeasance rights, that the Mortgagor pay any costs and
expenses associated with such exercise.

      (c) To the extent that the terms of a Mortgage permit defeasance, the
Master Servicer shall require the related Mortgagor to deliver a certification
from the Mortgagor's independent certified public accountants as to the
sufficiency of the related U.S. government securities, and provide a copy of
such certification to each Rating Agency and the Directing Certificateholder.

      (d) To the extent that the terms of a Mortgage permit defeasance, the
Master Servicer shall not approve the form and substance of any required legal
documents in connection with such defeasance unless (i) to the extent that the
outstanding principal balance of a Mortgage Loan is $20,000,000 or more, or
constitutes 5% or more of the then current principal balance of the Mortgage
Pool or such Mortgage Loan comprises at the time one of the ten largest Mortgage
Loans (by outstanding principal balance) in the Mortgage Pool, Fitch and S&P
each shall have confirmed to it in writing that such defeasance will not result
in the withdrawal, downgrade or qualification (if applicable) of the rating of
any Class of Certificates, (ii) it shall have obtained an Opinion of Counsel
that the defeasance complies with applicable REMIC Provisions; and, (iii) it
shall have obtained an accountant's certification that the defeasance collateral
is sufficient to make payments under the related Mortgage Loan for the remainder
of its term. In the case of the defeasance of any Mortgage Loan that does not
require a Rating Agency confirmation pursuant to the immediately preceding
clause (i), the Master Servicer must provide to S&P after completion of the
defeasance a certification substantially in the form of Exhibit J hereto.

      (e) With respect to each Mortgage Loan that provides for defeasance, to
the extent permitted by the terms of such Mortgage Loan, or if so requested by
the Rating Agencies, the Master Servicer shall use its best efforts to have the
related Mortgagor (i) designate a Single-Purpose-Entity (if the borrower no
longer complies) to assume the Mortgage Loan and own the collateral and (ii)
provide an opinion from counsel that the Trustee has a perfected security
interest in the new collateral.

      (f) To the extent that (i) the outstanding principal balance of a Mortgage
Loan is $20,000,000 or more or constitutes 2% or more of the then current
principal balance of the Mortgage Pool, and (ii) the terms of the related loan
documents require the consent of the lender in order for the related Mortgagor
to change the manager of the related Mortgaged Property, the Master Servicer
shall not so consent to such a change in management unless it has received (a)
the prior consent of the Special Servicer, which will be deemed given if such
party has not responded within ten Business Days (as such period may be extended
herein if the consent of the Directing Certificateholder is required hereunder)
following delivery of request for consent together with any information
reasonably necessary to make a decision and (b) a written confirmation from each
Rating Agency such a change in management, if effected, would not result in the
withdrawal, downgrade or qualification (if applicable) of the rating of any
Class of Certificates.

      (g) Notwithstanding anything contained in this Section 3.26 the Master
Servicer will disregard any objection of the Directing Certificateholder that
would result in a Prohibited Action.

      Section 3.27 Application of Default Charges.

      (a) Subject to the terms of any applicable Intercreditor Agreement, any
and all Default Charges that are actually received by or on behalf of the Trust
with respect to the Mortgage Pool, shall be applied for the following purposes
and in the following order, in each case to the extent of the remaining portion
of such Default Charges:

            first, to pay to the Trustee, the Master Servicer or the Special
      Servicer, in that order, any Advance Interest due and owing to such party
      on outstanding Advances made thereby with respect to any Mortgage Loan or
      REO Serviced Loan in the Mortgage Pool;

            second, to reimburse the Trust for any Advance Interest paid to the
      Trustee, the Master Servicer or the Special Servicer since the Closing
      Date with respect to any Mortgage Loan or REO Serviced Loan in the
      Mortgage Pool during the 12-month period preceding the receipt of such
      Default Charges, which Advance Interest was paid from a source other than
      Default Charges received on the Mortgage Pool (provided, however, if the
      Special Servicer is able to determine that such Default Charges are
      related to any Specially Serviced Loan or REO Serviced Loan in respect of
      which Advance Interest was paid to the Trustee, the Master Servicer or the
      Special Servicer prior to such 12-month period from a source other than
      Default Charges received on the Mortgage Pool, then the Master Servicer
      shall conclusively rely on such determination and shall apply such Default
      Charges to reimburse the Trust for such Advance Interest);

            third, to pay the Special Servicer for any Servicing Advances made
      for the cost of an inspection made on a Specially Serviced Loan;

            fourth, to reimburse the Trust for any other Additional Trust Fund
      Expenses incurred with respect to any Mortgage Loan or REO Serviced Loan
      in the Mortgage Pool during the 12-month period prior to the receipt of
      such Default Charges, which Additional Trust Fund Expenses were previously
      paid from a source other than Default Charges received on the Mortgage
      Pool (provided, however, if the Special Servicer is able to determine that
      such Default Charges are related to any Specially Serviced Loan or REO
      Serviced Loan in respect of which any Additional Trust Fund Expense was
      paid to the Trustee prior to such 12-month period from a source other than
      Default Charges received on the Mortgage Pool, then the Master Servicer
      shall conclusively rely on such determination and shall apply such Default
      Charges to reimburse the Trust for such Additional Trust Fund Expense);

            fifth, to pay the Master Servicer for Servicing Advances made for
      the cost of an inspection made on a Loan other than a Specially Serviced
      Loan; and

            sixth, to pay any remaining portion of such Default Charges as
      Additional Master Servicing Compensation to the Master Servicer, if such
      Default Charges were collected with respect to a Performing Serviced Loan,
      and otherwise to pay any remaining portion of such Default Charges as
      Additional Special Servicing Compensation to the Special Servicer.

      (b) Default Charges applied to reimburse the Trust pursuant to either
clause second or clause fourth of Section 3.27(a) is intended to be available
for distribution on the Certificates pursuant to Section 4.01(b), subject to
application pursuant to Section 3.05(a), Section 3.05(b), Section 3.05(c) or
Section 3.05(f) for any items payable out of general collections on the Mortgage
Pool. Default Charges applied to reimburse the Trust pursuant to either clause
second or clause fourth of Section 3.27(a) shall be deemed to offset payments of
Advance Interest or other Additional Trust Fund Expenses (depending on which
clause is applicable) in the chronological order in which they were made or
incurred (whereupon such Advance Interest or other Additional Trust Fund
Expenses (depending on which clause is applicable) shall thereafter be deemed to
have been paid out of Default Charges).

      Section 3.28 Matters Regarding the Whole Loans.

      (a) The Companion Loan Holder(s) will not have any liability to the Trust
or the Certificateholders for any action taken, or for refraining from the
taking of any action, in good faith pursuant to this Agreement, or for errors in
judgment; provided, however, that the Companion Loan Holder(s) will not be
protected against any liability which would otherwise be imposed by reason of
willful misfeasance, bad faith or negligence in the performance of duties or by
reason of negligent disregard of duties.

      (b) The Companion Loan Holder(s) shall be entitled to receive, upon
request, a copy of any notice or report required to be delivered (upon request
or otherwise) to the Trustee with respect to the related Whole Loan or any
related REO Property by any other party hereto. Any such other party shall be
permitted to require payment of a sum sufficient to cover the reasonable costs
and expenses of providing such copies.

      Section 3.29 Matters Regarding the Desert Passage Whole Loan and the 277
Park Avenue Whole Loan.

      (a) In the event that any of the Desert Passage Trustee, the Desert
Passage Master Servicer or the Desert Passage Special Servicer shall be replaced
in accordance with the terms of the Desert Passage Pooling Agreement, the Master
Servicer and the Special Servicer shall acknowledge any such successor as the
successor to the Desert Passage Trustee, the Desert Passage Master Servicer or
the Desert Passage Special Servicer, as the case may be, and shall notify the
Trustee regarding such replacement.

      (b) The Master Servicer shall deliver, or cause to be delivered, to the
Trustee, promptly following receipt from the Desert Passage Master Servicer, the
Desert Passage Special Servicer or the Desert Passage Trustee, any servicing
reports concerning the Desert Passage Pari Passu Note A-3 Mortgage Loan.

      (c) If, pursuant to Section 2.03, Section 3.18 or Section 9.01, the Desert
Passage Pari Passu Note A-3 Mortgage Loan is purchased or repurchased from the
Trust Fund, the purchaser thereof shall be bound by the terms of the Desert
Passage Intercreditor Agreement and shall assume the rights and obligations of
the "A-3 Co-Lender" under the Desert Passage Intercreditor Agreement. All
portions of the related Mortgage File and other documents pertaining to the
Desert Passage Pari Passu Note A-3 Mortgage Loan shall be endorsed or assigned
to the extent necessary or appropriate to the purchaser of such Mortgage Loan in
its capacity as "A-3 Co-Lender" (as a result of such purchase or repurchase),
under the Desert Passage Intercreditor Agreement in the manner contemplated
under such agreement, which such purchaser shall be deemed to acknowledge.
Thereafter, such Mortgage File shall be held by the "A-3 Co-Lender" or a
custodian appointed thereby for the benefit of the "A-3 Co-Lender" and the other
Lenders or "Co-Lender", as the case may be, as their interests appear under the
Desert Passage Intercreditor Agreement.

      (d) In the event that any of the 277 Park Avenue Trustee, the 277 Park
Avenue Master Servicer or the 277 Park Avenue Special Servicer shall be replaced
in accordance with the terms of the 277 Park Avenue Pooling Agreement, the
Master Servicer and the Special Servicer shall acknowledge any such successor as
the successor to the 277 Park Avenue Trustee, the 277 Park Avenue Master
Servicer or the 277 Park Avenue Special Servicer, as the case may be, and shall
notify the Trustee regarding such replacement.

      (e) The Master Servicer shall deliver, or cause to be delivered, to the
Trustee, promptly following receipt from the 277 Park Avenue Master Servicer,
the 277 Park Avenue Special Servicer or the 277 Park Avenue Trustee, any
servicing reports concerning the 277 Park Avenue Mortgage Loan.

      (f) If, pursuant to Section 2.03, Section 3.18 or Section 9.01, the 277
Park Avenue Pari Passu Note A-3 Mortgage Loan is purchased or repurchased from
the Trust Fund, the purchaser thereof shall be bound by the terms of the 277
Park Avenue Intercreditor Agreement and shall assume the rights and obligations
of the "A-3 Co-Lender" under the 277 Park Avenue Intercreditor Agreement. All
portions of the related Mortgage File and other documents pertaining to the 277
Park Avenue Pari Passu Note A-3 Mortgage Loan shall be endorsed or assigned to
the extent necessary or appropriate to the purchaser of such Mortgage Loan in
its capacity as "A-3 Co-Lender" (as a result of such purchase or repurchase),
under the 277 Park Avenue Intercreditor Agreement in the manner contemplated
under such agreement, which such purchaser shall be deemed to acknowledge.
Thereafter, such Mortgage File shall be held by the "A-3 Co-Lender" or a
custodian appointed thereby for the benefit of the "A-3 Co-Lender" and the other
Lenders or "Co-Lender", as the case may be, as their interests appear under the
277 Park Avenue Intercreditor Agreement.

      Section 3.30 Certain Powers of the Controlling Holders and Certain
Intercreditor Matters.

      The related Controlling Holder shall not owe any fiduciary duty to the
Trustee, the Master Servicer, the Special Servicer or any Certificateholder. The
related Controlling Holder will not have any liability to the Certificateholders
for any action taken, or for refraining from the taking of any action or the
giving or withholding of any consent, pursuant to this Agreement, or for errors
in judgment. By its acceptance of a Certificate, each Certificateholder confirms
its understanding that the related Controlling Holder may take or refrain from
taking actions that favor the interests of one or more Classes of the
Certificates over other Classes of the Certificates, and that the related
Controlling Holder may have special relationships and interests that conflict
with those of Holders of some Classes of the Certificates, that the related
Controlling Holder does not have any duties to the Holders of any Class of
Certificates, and that the related Controlling Holder shall have no liability
whatsoever for having so acted, and no Certificateholder may take any action
whatsoever against the related Controlling Holder or any director, officer,
employee, agent or principal thereof for having so acted.

      Section 3.31 Matters Relating to Certain Mortgage Loans.

      With respect to the Mortgage Loan identified as Loan No. 3400081 in the
Mortgage Loan Schedule and referred to in this section as "Faneuil Hall", the
Master Servicer shall not permit the release or substitution or an improved
parcel unless a REMIC opinion is obtained.

      Section 3.32 Litigation Control.

      The Special Servicer, with respect to litigation involving Specially
Serviced Loans, and the Master Servicer, with respect to litigation involving
Performing Serviced Loans, and where the applicable servicer contemplates
availing itself or the Trustee on behalf of the Trust Fund of indemnification as
provided for under this Agreement, such servicer shall, for the benefit of the
Certificateholders, direct, manage, prosecute, defend and/or settle any and all
claims and litigation ("Litigation Control") relating to (a) the enforcement of
the obligations of a Borrower under the related loan documents and (b) any
action brought against the Trust Fund or any party to this Agreement with
respect to any Mortgage Loan. Such Litigation Control shall be carried out in
accordance with the terms of this Agreement, including, without limitation, the
Servicing Standard. Upon becoming aware of or being named in any such claims or
litigation, the Master Servicer shall immediately notify the Directing
Certificateholder and the Trustee of such claims or litigation. In addition, the
Master Servicer shall prepare and submit a monthly status report regarding any
Litigation Control matter to the Directing Certificateholder.

      Notwithstanding the foregoing, each of the Special Servicer and the Master
Servicer, as applicable, shall consult with and keep the Directing
Certificateholder and the Trustee advised of any material development including
without limitation (i) any material decision concerning Litigation Control and
the implementation thereof and (ii) any decision to agree to or propose any
terms of settlement, and shall submit any such development or decision to the
Directing Certificateholder for its approval or consent. Subject to the second
to last paragraph of this Section 3.32, the Special Servicer or the Master
Servicer shall not take any action implementing any such material development or
decision described in the preceding sentence unless and until it has notified in
writing the Directing Certificateholder and the Directing Certificateholder has
not objected in writing within five Business Days of having been notified
thereof and having been provided with all information that the Directing
Certificateholder has reasonably requested with respect thereto promptly
following its receipt of the subject notice (it being understood and agreed that
if such written objection has not been received by the Special Servicer or the
Master Servicer, as applicable, within such five-Business Day period, then the
Directing Certificateholder shall be deemed to have approved the taking of such
action); provided that, in the event that the Special Servicer or the Master
Servicer, as applicable, determines that immediate action is necessary to
protect the interests of the Certificateholders (as a collective whole), the
Special Servicer or the Master Servicer, as applicable, may take such action
without waiting for the response of the Directing Certificateholder; provided
that the Special Servicer or the Master Servicer, as applicable, has reasonably
determined that the Directing Certificateholder has received notice of such
action in writing.

      With respect to any Litigation Control otherwise required to be exercised
hereunder by the Master Servicer relating to a Mortgage Loan that has either (i)
been satisfied or paid in full or (ii) as to which a Final Recovery
Determination has been made, after receiving the required notice from the Master
Servicer set forth above that it became aware of or was named in any such claims
or litigation, the Directing Certificateholder may direct in writing that the
such Litigation Control nevertheless be exercised by the Special Servicer;
provided that (a) the Special Servicer has determined, consistent with the
Servicing Standard, that its actions with respect to such obligations (including
without limitation settlements) (i) would be in the best interests of the
Certificateholders, (ii) do not require any admission of liability or wrongdoing
on the part of the Master Servicer and (iii) are fully indemnifiable (including
without limitation on behalf of the Master Servicer) under Section 6.03 hereof
and paid by the Trust; (b) all costs and fees incurred in defending and settling
the claims (including without limitation on behalf of the Master Servicer) are
indemnified expenses under Section 6.03 hereof; and (c) with respect to a
settlement, the Special Servicer has reasonably consulted with the Master
Servicer prior to such settlement.

      Notwithstanding the foregoing, no advice, direction or objection of the
Directing Certificateholder shall (i) require or cause the Special Servicer or
the Master Servicer, as applicable, to violate the terms of any Mortgage Loan or
any related intercreditor, co-lender or similar agreement, applicable law or any
provision of this Agreement, including the Special Servicer's and the Master
Servicer's obligation to act in accordance with the Servicing Standard and to
maintain the REMIC status of each of REMIC I and REMIC II, (ii) result in an
Adverse REMIC Event with respect to either of REMIC I or REMIC II or an Adverse
Grantor Trust Event with respect to the Grantor Trust, (iii) expose the Master
Servicer, the Special Servicer, the Depositor, any of the Mortgage Loan Sellers,
the Trust Fund, the Trustee or their Affiliates, officers, directors,
shareholders, partners, members, managers, employees or agents to any claim,
suit, or liability for which this Agreement does not provide indemnification to
such party or expose any such party to prosecution for a criminal offense, or
(iv) materially expand the scope of the Special Servicer's or the Master
Servicer's responsibilities under this Agreement; and neither the Special
Servicer nor the Master Servicer will follow any such advice, direction or
objection if given by the Directing Certificateholder or initiate any such
actions.

      In the event (a) of any action, suit, litigation or proceeding naming the
Trustee in its individual capacity, or in the event that any judgment is
rendered against the Trustee in its individual capacity, the Trustee, upon prior
written notice to the Master Servicer or the Special Servicer, as applicable,
may retain counsel and appear in any such proceeding on its own behalf in order
to protect and represent its interests; provided that the Master Servicer or the
Special Servicer, as applicable, shall retain the right to manage and direct any
such action, suit, litigation or proceeding, subject to the foregoing provisions
of this Section 3.32; (b) of any action, suit, litigation or proceeding, other
than an action, suit, litigation or proceeding relating to the enforcement of
the obligations under the related loan documents, neither the Master Servicer
nor the Special Servicer shall, without the prior written consent of the
Trustee, (i) initiate any action, suit, litigation or proceeding in the name of
the Trustee, whether in such capacity or individually, (ii) engage counsel to
represent the Trustee or (iii) prepare, execute or deliver any government
filings, forms, permits, registrations or other documents or take any other
similar action with the intent to cause, and that actually causes, the Trustee
to be registered to do business in any state; and (c) that any court finds that
the Trustee is a necessary party in respect of any action, suit, litigation or
proceeding relating to or arising from this Agreement or any Mortgage Loan, the
Trustee shall have the right to retain counsel and appear in any such proceeding
on its own behalf in order to protect and represent its interest, whether as
Trustee or individually; provided that the Master Servicer or the Special
Servicer, as applicable, shall retain the right to manage and direct any such
action, suit, litigation or proceeding; subject to the foregoing provisions of
this Section 3.32.

<PAGE>

                                   ARTICLE IV

               PAYMENTS TO CERTIFICATEHOLDERS AND RELATED MATTERS

      Section 4.01 Distributions.

      (a) (i) On each Distribution Date, amounts held in the REMIC I
Distribution Account shall be withdrawn or deemed to be withdrawn (to the extent
of the Available Distribution Amount, the "REMIC I Distribution Amount") in the
case of all Classes of REMIC I Regular Interests and distributed or deemed to be
distributed on the REMIC I Regular Interests as set forth in Section 4.01(a)(ii)
and distributed on the Class R-I Certificates as set forth in Section
4.01(a)(iii). Thereafter, until distributed to the Certificateholders, such
amounts shall be considered to be held in the REMIC II Distribution Account.

            (ii) Principal and interest amounts, reimbursement of Realized
      Losses and Additional Trust Fund Expenses and timing of distributions on
      each REMIC I Regular Interest will be identical to such amounts,
      reimbursements and timing on the related Corresponding Certificates;
      except that, solely for this purpose, all calculations of interest with
      respect to the Corresponding REMIC I Regular Interests shall be made as
      though the Class A-1, Class A-2, Class A-3, Class A-AB, Class A-4, Class
      A-1A, Class A-M, Class A-J, Class B, Class C, Class D, Class E, Class F,
      Class G, Class H, Class J, Class K, Class L, Class M, Class N, Class O and
      Class P Certificate Pass-Through Rates were equal to the Weighted Average
      Adjusted Net Mortgage Rate and as though the Class XW Notional Amount were
      zero at all times and such that the amounts and timing of interest
      distributions on each Corresponding REMIC I Regular Interest represent the
      aggregate of the corresponding amounts on each Class of Corresponding
      Certificates and its related Component of the Class XW Certificates;
      provided that (A) interest shall be deemed distributed on such REMIC I
      Regular Interest only in the same priority and to the extent actually
      distributable on such related Class of Corresponding Certificates or
      related Component and (B) interest distributable on the Class XW
      Certificates shall be distributable pro rata among the related Components.

            (iii) Any amount that remains in the REMIC I Distribution Account on
      each Distribution Date after distribution of the REMIC I Distribution
      Amount and Prepayment Premiums allocable to the REMIC I Regular Interests
      pursuant to Section 4.01(c)(iv) shall be distributed to the Holders of the
      Class R-I Certificates (but only to the extent of the Available
      Distribution Amount for such Distribution Date remaining in the REMIC I
      Distribution Account, if any).

      (b) On each Distribution Date, to the extent of the Available Distribution
Amount for such Distribution Date, the Trustee shall transfer or be deemed to
transfer the REMIC I Distribution Amount from the REMIC I Distribution Account
to the REMIC II Distribution Account in the amounts set forth in Section
4.01(a)(ii) with respect to each Class of REMIC I Regular Interest, and
immediately thereafter, shall make distributions thereof from the REMIC II
Distribution Account to the REMIC II Certificates in the order of priority set
forth in clauses (i) through (lii) below, satisfying in full, to the extent
required and possible, each priority before making any distribution with respect
to any succeeding priority.

            (i) concurrently, (a) from the Loan Group 1 Available Distribution
      Amount, to distributions of interest to the Holders of the Class A-1,
      Class A-2, Class A-3, Class A-AB and Class A-4 Certificates, pro rata as
      among such Classes in accordance with, all Distributable Certificate
      Interest in respect of each such Class of Certificates for such
      Distribution Date and, to the extent not previously paid, for all prior
      Distribution Dates, if any; (b) from the Loan Group 2 Available
      Distribution Amount, distributions of interest to the Holders of the Class
      A-1A Certificates, up to an amount equal to all Distributable Certificate
      Interest in respect of such Class of Certificates for such Distribution
      Date and, to the extent not previously paid, for all prior distribution
      dates, if any; and (c) from the Loan Group 1 Available Distribution Amount
      and/or the Loan Group 2 Available Distribution Amount, distributions of
      interest to the Holders of the Class XW Certificates, up to an amount
      equal to all Distributable Certificate Interest in respect of such Class
      of Certificates for such Distribution Date and, to the extent not
      previously paid, for all prior Distribution Dates, if any; provided,
      however, that if the Loan Group 1 Available Distribution Amount and/or the
      Loan Group 2 Available Distribution Amount is insufficient to pay in full
      the total amount of Distributable Certificate Interest, as provided above,
      payable in respect of any Class of Senior Certificates on such
      Distribution Date, then the entire Available Distribution Amount shall be
      applied to make distributions of interest to the Holders of the Class A-1,
      Class A-2, Class A-3, Class A-AB, Class A-4, Class A-1A and Class XW
      Certificates without regard to Loan Group, up to an amount equal to, and
      pro rata as among such Classes in accordance with, all Distributable
      Certificate Interest in respect of each such Class of Certificates for
      such Distribution Date and, to the extent not previously paid, for all
      prior Distribution Dates, if any;

            (ii) to distributions of principal to the Holders of the Class A-1,
      Class A-2, Class A-3, Class A-AB, Class A-4 and Class A-1A Certificates in
      reduction of the Class Principal Balances thereof concurrently (A)(1)
      first, to the Holders of the Class A-AB Certificates, in an amount up to
      the Loan Group 1 Principal Distribution Amount and, after the outstanding
      Class Principal Balance of the Class A-1A Certificates has been reduced to
      zero, the Loan Group 2 Principal Distribution Amount remaining after
      payments to Holders of the Class A-1A Certificates have been made on such
      Distribution Date, until the outstanding Class Principal Balance of the
      Class A-AB Certificates has been reduced to the Class A-AB Planned
      Principal Amount; (2) second, to the Holders of the Class A-1
      Certificates, in an amount up to the Loan Group 1 Principal Distribution
      Amount and, after the outstanding Class Principal Balance of the Class
      A-1A Certificates has been reduced to zero, the Loan Group 2 Principal
      Distribution Amount remaining after payments to Holders of the Class A-1A
      Certificates and the Holders of the Class A-AB Certificates (up to the
      Class A-AB Planned Principal Amount) have been made on such Distribution
      Date, until the outstanding Class Principal Balance of the Class A-1
      Certificates has been reduced to zero; (3) third, to the Holders of the
      Class A-2 Certificates, in an amount up to the Loan Group 1 Principal
      Distribution Amount and, after the outstanding Class Principal Balance of
      the Class A-1A Certificates has been reduced to zero, the Loan Group 2
      Principal Distribution Amount remaining after payments to Holders of the
      Class A-1A Certificates and the Holders of the Class A-AB Certificates (up
      to the Class A-AB Planned Principal Amount) and the Class A-1 Certificates
      have been made on such Distribution Date, until the outstanding Class
      Principal Balance of the Class A-2 Certificates has been reduced to zero;
      (4) fourth, to the Holders of the Class A-3 Certificates, in an amount up
      to the Loan Group 1 Principal Distribution Amount and, after the
      outstanding Class Principal Balance of the Class A-1A Certificates has
      been reduced to zero, the Loan Group 2 Principal Distribution Amount
      remaining after payments to Holders of the Class A-1A Certificates and the
      Holders of the Class A-AB Certificates (up to the Class A-AB Planned
      Principal Amount) and the Class A-1 and Class A-2 Certificates have been
      made on such Distribution Date, until the outstanding Class Principal
      Balance of the Class A-3 Certificates has been reduced to zero; (5) fifth,
      to the Holders of the Class A-AB Certificates, in an amount up to the Loan
      Group 1 Principal Distribution Amount and, after the outstanding Class
      Principal Balance of the Class A-1A Certificates has been reduced to zero,
      the Loan Group 2 Principal Distribution Amount remaining after payments to
      Holders of the Class A-1A Certificates and the Holders of the Class A-AB
      Certificates (up to the Class A-AB Planned Principal Amount) and the Class
      A-1, Class A-2 and Class A-3 Certificates have been made on such
      Distribution Date, until the outstanding Class Principal Balance of the
      Class A-AB Certificates has been reduced to zero; and (6) sixth, to the
      Holders of the Class A-4 Certificates, in an amount up to the Loan Group 1
      Principal Distribution Amount and, after the outstanding Class Principal
      Balance of the Class A-1A Certificates has been reduced to zero, the Loan
      Group 2 Principal Distribution Amount remaining after payments to Holders
      of the Class A-1A, Class A-1, Class A-2, Class A-3 and Class A-AB
      Certificates have been made on such Distribution Date, until the Class
      Principal Balance of the Class A-4 Certificates has been reduced to zero;
      and (B) to the Holders of the Class A-1A Certificates, in an amount up to
      the Loan Group 2 Principal Distribution Amount and, after the outstanding
      Class Principal Balance of the Class A-1, Class A-2, Class A-3 and Class
      A-AB Certificates have been reduced to zero, the Loan Group 1 Principal
      Distribution Amount remaining after payments to Holders of the Class A-1A,
      Class A-1, Class A-2, Class A-3 and Class A-AB Certificates have been made
      on such Distribution Date, until the Class Principal Balance of the Class
      A-1A Certificates has been reduced to zero;

            (iii) to reimburse the Holders of the Class A-1 Certificates, the
      Class A-2 Certificates, the Class A-3 Certificates, the Class A-AB
      Certificates, the Class A-4 Certificates and the Class A-1A Certificates,
      up to an amount equal to, and pro rata as among such Classes in accordance
      with, the respective amounts of Realized Losses and Additional Trust Fund
      Expenses, if any, previously allocated to the Class Principal Balance of
      such Classes and for which no reimbursement has previously been paid;

            (iv) to distributions of interest to the Holders of the Class A-M
      Certificates in an amount equal to all Distributable Certificate Interest
      in respect of such Class of Certificates for such Distribution Date and,
      to the extent not previously paid, for all prior Distribution Dates;

            (v) if the Class Principal Balances of the Class A-1 Certificates,
      the Class A-2 Certificates, the Class A-3 Certificates, the Class A-AB
      Certificates, the Class A-4 Certificates and the Class A-1A Certificates
      have been reduced to zero, to distributions of principal to the Holders of
      the Class A-M Certificates, in an amount (not to exceed the Class
      Principal Balance of the Class A-M Certificates outstanding immediately
      prior to such Distribution Date) equal to the entire remaining Principal
      Distribution Amount for such Distribution Date;

            (vi) to distributions to the Holders of the Class A-M Certificates,
      in an amount equal to, and in reimbursement of, all Realized Losses and
      Additional Trust Fund Expenses, if any, that were previously allocated to
      the Class Principal Balance of the Class A-M Certificates and that remain
      unreimbursed immediately prior to such Distribution Date;

            (vii) to distributions of interest to the Holders of the Class A-J
      Certificates in an amount equal to all Distributable Certificate Interest
      in respect of such Class of Certificates for such Distribution Date and,
      to the extent not previously paid, for all prior Distribution Dates;

            (viii) if the Class Principal Balances of the Class A-1
      Certificates, the Class A-2 Certificates, the Class A-3 Certificates, the
      Class A-AB Certificates, the Class A-4 Certificates, the Class A-1A
      Certificates and Class A-M Certificates have been reduced to zero, to
      distributions of principal to the Holders of the Class A-J Certificates,
      in an amount (not to exceed the Class Principal Balance of the Class A-J
      Certificates outstanding immediately prior to such Distribution Date)
      equal to the entire remaining Principal Distribution Amount for such
      Distribution Date;

            (ix) to distributions to the Holders of the Class A-J Certificates,
      in an amount equal to, and in reimbursement of, all Realized Losses and
      Additional Trust Fund Expenses, if any, that were previously allocated to
      the Class Principal Balance of the Class A-J Certificates and that remain
      unreimbursed immediately prior to such Distribution Date;

            (x) to distributions of interest to the Holders of the Class B
      Certificates in an amount equal to all Distributable Certificate Interest
      in respect of such Class of Certificates for such Distribution Date and,
      to the extent not previously paid, for all prior Distribution Dates;

            (xi) if the Class Principal Balances of the Class A-1 Certificates,
      the Class A-2 Certificates, the Class A-3 Certificates, the Class A-AB
      Certificates, the Class A-4 Certificates, the Class A-1A Certificates,
      Class A-M Certificates and the Class A-J Certificates have been reduced to
      zero, to distributions of principal to the Holders of the Class B
      Certificates, in an amount (not to exceed the Class Principal Balance of
      the Class B Certificates outstanding immediately prior to such
      Distribution Date) equal to the entire remaining Principal Distribution
      Amount for such Distribution Date;

            (xii) to distributions to the Holders of the Class B Certificates,
      in an amount equal to, and in reimbursement of, all Realized Losses and
      Additional Trust Fund Expenses, if any, that were previously allocated to
      the Class Principal Balance of the Class B Certificates and that remain
      unreimbursed immediately prior to such Distribution Date;

            (xiii) to distributions of interest to the Holders of the Class C
      Certificates, in an amount equal to all Distributable Certificate Interest
      in respect of such Class of Certificates for such Distribution Date and,
      to the extent not previously paid, for all prior Distribution Dates;

            (xiv) if the Class Principal Balances of the Class A-1 Certificates,
      the Class A-2 Certificates, the Class A-3 Certificates, the Class A-AB
      Certificates, the Class A-4 Certificates, the Class A-1A Certificates, the
      Class A-M Certificates, the Class A-J Certificates and the Class B
      Certificates have been reduced to zero, to distributions of principal to
      the Holders of the Class C Certificates, in an amount (not to exceed the
      Class Principal Balance of the Class C Certificates outstanding
      immediately prior to such Distribution Date) equal to the entire remaining
      Principal Distribution Amount for such Distribution Date;

            (xv) to distributions to the Holders of the Class C Certificates, in
      an amount equal to, and in reimbursement of, all Realized Losses and
      Additional Trust Fund Expenses, if any, that were previously allocated to
      the Class Principal Balance of the Class C Certificates and that remain
      unreimbursed immediately prior to such Distribution Date;

            (xvi) to distributions of interest to the Holders of the Class D
      Certificates, in an amount equal to all Distributable Certificate Interest
      in respect of such Class of Certificates for such Distribution Date and,
      to the extent not previously paid, for all prior Distribution Dates;

            (xvii) if the Class Principal Balances of the Class A-1
      Certificates, the Class A-2 Certificates, the Class A-3 Certificates, the
      Class A-AB Certificates, the Class A-4 Certificates, the Class A-1A
      Certificates, the Class A-M Certificates, the Class A-J Certificates, the
      Class B Certificates and the Class C Certificates have been reduced to
      zero, to distributions of principal to the Holders of the Class D
      Certificates, in an amount (not to exceed the Class Principal Balance of
      the Class D Certificates outstanding immediately prior to such
      Distribution Date) equal to the entire remaining Principal Distribution
      Amount for such Distribution Date;

            (xviii) to distributions to the Holders of the Class D Certificates,
      in an amount equal to, and in reimbursement of, all Realized Losses and
      Additional Trust Fund Expenses, if any, that were previously allocated to
      the Class Principal Balance of the Class D Certificates and that remain
      unreimbursed immediately prior to such Distribution Date;

            (xix) to distributions of interest to the Holders of the Class E
      Certificates, in an amount equal to all Distributable Certificate Interest
      in respect of such Class of Certificates for such Distribution Date and,
      to the extent not previously paid, for all prior Distribution Dates;

            (xx) if the Class Principal Balances of the Class A-1 Certificates,
      the Class A-2 Certificates, the Class A-3 Certificates, the Class A-AB
      Certificates, the Class A-4 Certificates, the Class A-1A Certificates, the
      Class A-M Certificates, the Class A-J Certificates, the Class B
      Certificates, the Class C Certificates and the Class D Certificates have
      been reduced to zero, to distributions of principal to the Holders of the
      Class E Certificates, in an amount (not to exceed the Class Principal
      Balance of the Class E Certificates outstanding immediately prior to such
      Distribution Date) equal to the entire remaining Principal Distribution
      Amount for such Distribution Date;

            (xxi) to distributions to the Holders of the Class E Certificates,
      in an amount equal to, and in reimbursement of, all Realized Losses and
      Additional Trust Fund Expenses, if any, that were previously allocated to
      the Class Principal Balance of the Class E Certificates and that remain
      unreimbursed immediately prior to such Distribution Date;

            (xxii) to distributions of interest to the Holders of the Class F
      Certificates, in an amount equal to all Distributable Certificate Interest
      in respect of such Class of Certificates for such Distribution Date and,
      to the extent not previously paid, for all prior Distribution Dates;

            (xxiii) if the Class Principal Balances of the Class A-1
      Certificates, the Class A-2 Certificates, the Class A-3 Certificates, the
      Class A-AB Certificates, the Class A-4 Certificates, the Class A-1A
      Certificates, the Class A-M Certificates, the Class A-J Certificates, the
      Class B Certificates, the Class C Certificates, the Class D Certificates
      and the Class E Certificates have been reduced to zero, to distributions
      of principal to the Holders of the Class F Certificates, in an amount (not
      to exceed the Class Principal Balance of the Class F Certificates
      outstanding immediately prior to such Distribution Date) equal to the
      entire remaining Principal Distribution Amount for such Distribution Date;

            (xxiv) to distributions to the Holders of the Class F Certificates,
      in an amount equal to, and in reimbursement of, all Realized Losses and
      Additional Trust Fund Expenses, if any, that were previously allocated to
      the Class Principal Balance of the Class F Certificates and that remain
      unreimbursed immediately prior to such Distribution Date;

            (xxv) to distributions of interest to the Holders of the Class G
      Certificates, in an amount equal to all Distributable Certificate Interest
      in respect of such Class of Certificates for such Distribution Date and,
      to the extent not previously paid, for all prior Distribution Dates;

            (xxvi) if the Class Principal Balances of the Class A-1
      Certificates, the Class A-2 Certificates, the Class A-3 Certificates, the
      Class A-AB Certificates, the Class A-4 Certificates, the Class A-1A
      Certificates, the Class A-M Certificates, the Class A-J Certificates, the
      Class B Certificates, the Class C Certificates, the Class D Certificates,
      the Class E Certificates and the Class F Certificates have been reduced to
      zero, to distributions of principal to the Holders of the Class G
      Certificates, in an amount (not to exceed the Class Principal Balance of
      the Class G Certificates outstanding immediately prior to such
      Distribution Date) equal to the entire remaining Principal Distribution
      Amount for such Distribution Date;

            (xxvii) to distributions to the Holders of the Class G Certificates,
      in an amount equal to, and in reimbursement of, all Realized Losses and
      Additional Trust Fund Expenses, if any, that were previously allocated to
      the Class Principal Balance of the Class G Certificates and that remain
      unreimbursed immediately prior to such Distribution Date;

            (xxviii) to distributions of interest to the Holders of the Class H
      Certificates, in an amount equal to all Distributable Certificate Interest
      in respect of such Class of Certificates for such Distribution Date and,
      to the extent not previously paid, for all prior Distribution Dates;

            (xxix) if the Class Principal Balances of the Class A-1
      Certificates, the Class A-2 Certificates, the Class A-3 Certificates, the
      Class A-AB Certificates, the Class A-4 Certificates, the Class A-1A
      Certificates, the Class A-M Certificates, the Class A-J Certificates, the
      Class B Certificates, the Class C Certificates, the Class D Certificates,
      the Class E Certificates, the Class F Certificates and the Class G
      Certificates have been reduced to zero, to distributions of principal to
      the Holders of the Class H Certificates, in an amount (not to exceed the
      Class Principal Balance of the Class H Certificates outstanding
      immediately prior to such Distribution Date) equal to the entire remaining
      Principal Distribution Amount for such Distribution Date;

            (xxx) to distributions to the Holders of the Class H Certificates,
      in an amount equal to, and in reimbursement of, all Realized Losses and
      Additional Trust Fund Expenses, if any, that were previously allocated to
      the Class Principal Balance of the Class H Certificates and that remain
      unreimbursed immediately prior to such Distribution Date;

            (xxxi) to distributions of interest to the Holders of the Class J
      Certificates, in an amount equal to all Distributable Certificate Interest
      in respect of such Class of Certificates for such Distribution Date and,
      to the extent not previously paid, for all prior Distribution Dates;

            (xxxii) if the Class Principal Balances of the Class A-1
      Certificates, the Class A-2 Certificates, the Class A-3 Certificates, the
      Class A-AB Certificates, the Class A-4 Certificates, the Class A-1A
      Certificates, the Class A-M Certificates, the Class A-J Certificates, the
      Class B Certificates, the Class C Certificates, the Class D Certificates,
      the Class E Certificates, the Class F Certificates, the Class G
      Certificates and the Class H Certificates have been reduced to zero, to
      distributions of principal to the Holders of the Class J Certificates, in
      an amount (not to exceed the Class Principal Balances of the Class J
      Certificates outstanding immediately prior to such Distribution Date)
      equal to the entire remaining Principal Distribution Amount for such
      Distribution Date;

            (xxxiii) to distributions to the Holders of the Class J
      Certificates, in an amount equal to, and in reimbursement of, all Realized
      Losses and Additional Trust Fund Expenses, if any, that were previously
      allocated to the Class Principal Balances of the Class J Certificates and
      that remain unreimbursed immediately prior to such Distribution Date;

            (xxxiv) to distributions of interest to the Holders of the Class K
      Certificates, in an amount equal to all Distributable Certificate Interest
      in respect of such Class of Certificates for such Distribution Date and,
      to the extent not previously paid, for all prior Distribution Dates;

            (xxxv) if the Class Principal Balances of the Class A-1
      Certificates, the Class A-2 Certificates, the Class A-3 Certificates, the
      Class A-AB Certificates, the Class A-4 Certificates, the Class A-1A
      Certificates, the Class A-M Certificates, the Class A-J Certificates, the
      Class B Certificates, the Class C Certificates, the Class D Certificates,
      the Class E Certificates, the Class F Certificates, the Class G
      Certificates, the Class H Certificates and the Class J Certificates have
      been reduced to zero, to distributions of principal to the Holders of the
      Class K Certificates, in an amount (not to exceed the Class Principal
      Balance of the Class K Certificates outstanding immediately prior to such
      Distribution Date) equal to the entire remaining Principal Distribution
      Amount for such Distribution Date;

            (xxxvi) to distributions to the Holders of the Class K Certificates,
      in an amount equal to, and in reimbursement of, all Realized Losses and
      Additional Trust Fund Expenses, if any, that were previously allocated to
      the Class Principal Balance of the Class K Certificates and that remain
      unreimbursed immediately prior to such Distribution Date;

            (xxxvii) to distributions of interest to the Holders of the Class L
      Certificates, in an amount equal to all Distributable Certificate Interest
      in respect of such Class of Certificates for such Distribution Date and,
      to the extent not previously paid, for all prior Distribution Dates;

            (xxxviii) if the Class Principal Balances of the Class A-1
      Certificates, the Class A-2 Certificates, the Class A-3 Certificates, the
      Class A-AB Certificates, the Class A-4 Certificates, the Class A-1A
      Certificates, the Class A-M Certificates, the Class A-J Certificates, the
      Class B Certificates, the Class C Certificates, the Class D Certificates,
      the Class E Certificates, the Class F Certificates, the Class G
      Certificates, the Class H Certificates, the Class J Certificates and the
      Class K Certificates have been reduced to zero, to distributions of
      principal to the Holders of the Class L Certificates, in an amount (not to
      exceed the Class Principal Balance of the Class L Certificates outstanding
      immediately prior to such Distribution Date) equal to the entire remaining
      Principal Distribution Amount for such Distribution Date;

            (xxxix) to distributions to the Holders of the Class L Certificates,
      in an amount equal to, and in reimbursement of, all Realized Losses and
      Additional Trust Fund Expenses, if any, that were previously allocated to
      the Class Principal Balance of the Class L Certificates and that remain
      unreimbursed immediately prior to such Distribution Date;

            (xl) to distributions of interest to the Holders of the Class M
      Certificates, in an amount equal to all Distributable Certificate Interest
      in respect of such Class of Certificates for such Distribution Date and,
      to the extent not previously paid, for all prior Distribution Dates;

            (xli) if the Class Principal Balances of the Class A-1 Certificates,
      the Class A-2 Certificates, the Class A-3 Certificates, the Class A-AB
      Certificates, the Class A-4 Certificates, the Class A-1A Certificates, the
      Class A-M Certificates, the Class A-J Certificates, the Class B
      Certificates, the Class C Certificates, the Class D Certificates, the
      Class E Certificates, the Class F Certificates, the Class G Certificates,
      the Class H Certificates, the Class J Certificates, the Class K
      Certificates and the Class L Certificates have been reduced to zero, to
      distributions of principal to the Holders of the Class M Certificates, in
      an amount (not to exceed the Class Principal Balance of the Class M
      Certificates outstanding immediately prior to such Distribution Date)
      equal to the entire remaining Principal Distribution Amount for such
      Distribution Date;

            (xlii) to distributions to the Holders of the Class M Certificates,
      in an amount equal to, and in reimbursement of, all Realized Losses and
      Additional Trust Fund Expenses, if any, that were previously allocated to
      the Class Principal Balance of the Class M Certificates and that remain
      unreimbursed immediately prior to such Distribution Date;

            (xliii) to distributions of interest to the Holders of the Class N
      Certificates, in an amount equal to all Distributable Certificate Interest
      in respect of such Class of Certificates for such Distribution Date and,
      to the extent not previously paid, for all prior Distribution Dates;

            (xliv) if the Class Principal Balances of the Class A-1
      Certificates, the Class A-2 Certificates, the Class A-3 Certificates, the
      Class A-AB Certificates, the Class A-4 Certificates, the Class A-1A
      Certificates, the Class A-M Certificates, the Class A-J Certificates, the
      Class B Certificates, the Class C Certificates, the Class D Certificates,
      the Class E Certificates, the Class F Certificates, the Class G
      Certificates, the Class H Certificates, the Class J Certificates, the
      Class K Certificates, the Class L Certificates and the Class M
      Certificates have been reduced to zero, to distributions of principal to
      the Holders of the Class N Certificates, in an amount (not to exceed the
      Class Principal Balance of the Class N Certificates outstanding
      immediately prior to such Distribution Date) equal to the entire remaining
      Principal Distribution Amount for such Distribution Date;

            (xlv) to distributions to the Holders of the Class N Certificates,
      in an amount equal to, and in reimbursement of, all Realized Losses and
      Additional Trust Fund Expenses, if any, that were previously allocated to
      the Class Principal Balance of the Class N Certificates and that remain
      unreimbursed immediately prior to such Distribution Date;

            (xlvi) to distributions of interest to the Holders of the Class O
      Certificates, in an amount equal to all Distributable Certificate Interest
      in respect of such Class of Certificates for such Distribution Date and,
      to the extent not previously paid, for all prior Distribution Dates;

            (xlvii) if the Class Principal Balances of the Class A-1
      Certificates, the Class A-2 Certificates, the Class A-3 Certificates, the
      Class A-AB Certificates, the Class A-4 Certificates, the Class A-1A
      Certificates, the Class A-M Certificates, the Class A-J Certificates, the
      Class B Certificates, the Class C Certificates, the Class D Certificates,
      the Class E Certificates, the Class F Certificates, the Class G
      Certificates, the Class H Certificates, the Class J Certificates, the
      Class K Certificates, the Class L Certificates, the Class M Certificates
      and the Class N Certificates have been reduced to zero, to distributions
      of principal to the Holders of the Class O Certificates, in an amount (not
      to exceed the Class Principal Balance of the Class O Certificates
      outstanding immediately prior to such Distribution Date) equal to the
      entire remaining Principal Distribution Amount for such Distribution Date;

            (xlviii) to distributions to the Holders of the Class O
      Certificates, in an amount equal to, and in reimbursement of, all Realized
      Losses and Additional Trust Fund Expenses, if any, that were previously
      allocated to the Class Principal Balance of the Class O Certificates and
      that remain unreimbursed immediately prior to such Distribution Date;

            (xlix) to distributions of interest to the Holders of the Class P
      Certificates, in an amount equal to all Distributable Certificate Interest
      in respect of such Class of Certificates for such Distribution Date and,
      to the extent not previously paid, for all prior Distribution Dates;

            (l) if the Class Principal Balances of the Class A-1 Certificates,
      the Class A-2 Certificates, the Class A-3 Certificates, the Class A-AB
      Certificates, the Class A-4 Certificates, the Class A-1A Certificates, the
      Class A-M Certificates, the Class A-J Certificates, the Class B
      Certificates, the Class C Certificates, the Class D Certificates, the
      Class E Certificates, the Class F Certificates, the Class G Certificates,
      the Class H Certificates, the Class J Certificates, the Class K
      Certificates, the Class L Certificates, the Class M Certificates, the
      Class N Certificates and the Class O Certificates have been reduced to
      zero, to distributions of principal to the Holders of the Class P
      Certificates, in an amount (not to exceed the Class Principal Balance of
      the Class P Certificates outstanding immediately prior to such
      Distribution Date) equal to the entire remaining Principal Distribution
      Amount for such Distribution Date;

            (li) to distributions to the Holders of the Class P Certificates, in
      an amount equal to, and in reimbursement of, all Realized Losses and
      Additional Trust Fund Expenses, if any, that were previously allocated to
      the Class Principal Balance of the Class P Certificates and that remain
      unreimbursed immediately prior to such Distribution Date; and

            (lii) to distributions to the Holders of the Class R-II
      Certificates, in the amount remaining in the REMIC II Distribution Account
      for such Distribution Date remaining after the distributions to be made on
      such Distribution Date pursuant to clauses (i) through (li) above;

provided that, on each Distribution Date coinciding with or following the Senior
Principal Distribution Cross Over Date, and in any event on the Final
Distribution Date, the payments of principal to be made pursuant to clause (ii)
above, will be so made to the Holders of the Class A-1 Certificates, the Class
A-2 Certificates, the Class A-3 Certificates, the Class A-AB Certificates, the
Class A-4 Certificates and the Class A-1A Certificates, subject to available
funds, up to an amount equal to, and pro rata as among such Classes in
accordance with, the respective then outstanding Class Principal Balances of
such Classes, and without regard to the Principal Distribution Amount for such
date; and provided, further, that, on the Final Distribution Date, the payments
of principal to be made pursuant to any of clauses (v), (viii), (xi), (xiv),
(xvii), (xx), (xxiii), (xxvi), (xxix), (xxxii), (xxxv), (xxxviii), (xli),
(xliv), (xlvii) and (l) above with respect to any Class of Sequential Pay
Certificates, will be so made to the Holders thereof, subject to available
funds, up to an amount equal to the entire then outstanding Class Principal
Balance of such Class of Certificates, and without regard to the Principal
Distribution Amount for such date. References to "remaining Principal
Distribution Amount" in clause (ii) above, in connection with payments of
principal to be made to the Holders of the Class A-1 Certificates, the Class A-2
Certificates, the Class A-3 Certificates, the Class A-AB Certificates, the Class
A-4 Certificates and the Class A-1A Certificates shall be to the Principal
Distribution Amount for such Distribution Date, net of any distributions of
principal made in respect thereof to the Holders of each other Class of Class A
Certificates, if any, that pursuant to clause (ii) above has an earlier right to
payment with respect thereto. References to "remaining Principal Distribution
Amount" in any of clauses (v), (viii), (xi), (xiv), (xvii), (xx), (xxiii),
(xxvi), (xxix), (xxxii), (xxxv), (xxxviii), (xli), (xliv), (xlvii) and (l)
above, in connection with the payments of principal to be made to the Holders of
any Class of Sequential Pay Certificates, shall be to the Principal Distribution
Amount for such Distribution Date, net of any payments of principal made in
respect thereof to the Holders of each other Class of Sequential Pay
Certificates that has a higher Payment Priority.

      All distributions of interest made in respect of the Class XW Certificates
on any Distribution Date pursuant to clause (i) above, shall be deemed to have
been made in respect of all the Components of such Class, pro rata in accordance
with the respective amounts of interest that would be payable on such Components
on such Distribution Date based on the Class XW Strip Rate of such Component
multiplied by its Component Notional Amount, less an allocable portion of any
Prepayment Interest Shortfall, together with any amounts thereof remaining
unpaid from previous Distribution Dates.

      (c) (i) On each Distribution Date, Prepayment Premiums collected during
the related Collection Period with respect to the Group 1 Mortgage Loans will be
distributed by the Trustee to the following Classes: to the Class A-1
Certificates, the Class A-2 Certificates, the Class A-3 Certificates, the Class
A-AB Certificates, the Class A-4 Certificates, the Class A-M Certificates, the
Class A-J Certificates, the Class B Certificates, the Class C Certificates, the
Class D Certificates, the Class E Certificates, the Class F Certificates, the
Class G Certificates and the Class H Certificates in an amount equal to the
product of (a) a fraction whose numerator is the amount distributed as principal
to such Class on such Distribution Date, and whose denominator is the total
amount distributed as principal to the Class A-1 Certificates, the Class A-2
Certificates, the Class A-3 Certificates, the Class A-AB Certificates, the Class
A-4 Certificates, the Class A-M Certificates, the Class A-J Certificates, the
Class B Certificates, the Class C Certificates, the Class D Certificates, the
Class E Certificates, the Class F Certificates, the Class G Certificates, the
Class H Certificates, the Class J Certificates, the Class K Certificates, the
Class L Certificates, the Class M Certificates, the Class N Certificates, the
Class O Certificates and the Class P Certificates on such Distribution Date, (b)
the Base Interest Fraction for the related principal payment on such Class of
Certificates, and (c) the aggregate amount of Prepayment Premiums relating to
such Mortgage Loans collected on such principal prepayments during the related
Collection Period. On each Distribution Date, Prepayment Premiums collected
during the related Collection Period with respect to the Group 2 Mortgage Loans
will be distributed by the Trustee to the Class A-1A Certificates in an amount
equal to the product of (a) a fraction whose numerator is the amount distributed
as principal to such Class on such Distribution Date, and whose denominator is
the total amount received as principal for all Mortgage Loans in Loan Group 2 on
such Distribution Date, (b) the Base Interest Fraction for the related principal
payment on such Class of Certificates, and (c) the aggregate amount of
Prepayment Premiums relating to such Mortgage Loans collected on such principal
prepayments during the related Collection Period. Any Prepayment Premiums
collected on such Mortgage Loans during the related Collection Period remaining
after such distributions will be distributed to entirely to the Holders of the
Class XW Certificates.

            (ii) The "Base Interest Fraction" with respect to any Principal
      Prepayment on any Mortgage Loan, and with respect to any Class of REMIC II
      Regular Certificates, is a fraction (a) whose numerator is the amount, if
      any, by which (i) the Pass-Through Rate on such Class of Certificates
      exceeds (ii) the Discount Rate and (b) whose denominator is the amount, if
      any, by which (i) the Mortgage Rate on such Mortgage Loan exceeds (ii) the
      Discount Rate. However, under no circumstances shall the Base Interest
      Fraction be greater than one. If such Discount Rate is greater than or
      equal to the lesser of (x) the Mortgage Rate on such Mortgage Loan and (y)
      the Pass-Through Rate described in the preceding sentence, then the Base
      Interest Fraction will equal zero. The "Discount Rate" with respect to any
      applicable Prepayment Premium calculation, is the yield on the United
      Stated Treasury issue with a maturity date closest to the Maturity Date
      for the Mortgage Loan being prepaid (if applicable, converted to a monthly
      compounded nominal yield), or an interpolation thereof, in any case as
      specified and used in accordance with the related Loan documents in
      calculating the Prepayment Premium with respect to the related prepayment.

            (iii) No Prepayment Premiums will be distributed to the holders of
      the Class J, Class K, Class L, Class M, Class N, Class O or Class P
      Certificates. After the Certificate Principal Balances of the Class A-1
      Certificates, the Class A-2 Certificates, the Class A-3 Certificates, the
      Class A-AB Certificates, the Class A-4 Certificates, the Class A-1A
      Certificates, the Class A-M Certificates, the Class A-J Certificates, the
      Class B Certificates, the Class C Certificates, the Class D Certificates,
      the Class E Certificates, the Class F Certificates, the Class G
      Certificates and the Class H Certificates have been reduced to zero, all
      Prepayment Premiums and yield maintenance charges with respect to the
      Mortgage Loans shall be distributed to the holders of the Class XW
      Certificates.

            (iv) All distributions of Prepayment Premiums made in respect of the
      respective Classes of REMIC II Regular Certificates on each Distribution
      Date pursuant to Section 4.01(c)(i) shall first be deemed to be
      distributed from REMIC I to REMIC II in respect of the REMIC I Regular
      Interests, pro rata based upon the amount of principal distributed in
      respect of each Class of REMIC I Regular Interest for such Distribution
      Date pursuant to Section 4.01(a)(ii) above.

      (d) All distributions made with respect to each Class on each Distribution
Date shall be allocated pro rata among the outstanding Certificates in such
Class based on their respective Percentage Interests. Except as otherwise
provided below, all such distributions with respect to each Class of
Certificates on each Distribution Date shall be made to the Certificateholders
of the respective Class of record at the close of business on the related Record
Date and shall be made by wire transfer of immediately available funds to the
account of any such Certificateholder at a bank or other entity having
appropriate facilities therefor, if such Certificateholder shall have provided
the Trustee with written wiring instructions no less than five Business Days
prior to the related Record Date (which wiring instructions may be in the form
of a standing order applicable to all subsequent Distribution Dates), or
otherwise by check mailed to the address of such Certificateholder as it appears
in the Certificate Register. The final distribution on each Certificate
(determined without regard to any possible future reimbursement of any Realized
Loss or Additional Trust Fund Expense previously allocated to such Certificate)
will be made in like manner, but only upon presentation and surrender of such
Certificate at the Corporate Trust Office or such other location specified in
the notice to Certificateholders of such final distribution. Any distribution
that is to be made with respect to a Certificate in reimbursement of a Realized
Loss or Additional Trust Fund Expense previously allocated thereto, which
reimbursement is to occur after the date on which such Certificate is
surrendered as contemplated by the preceding sentence, will be made by check
mailed to the address of the Certificateholder that surrendered such Certificate
as such address last appeared in the Certificate Register or to any other
address of which the Trustee was subsequently notified in writing.

      (e) Each distribution with respect to a Book-Entry Certificate shall be
paid to the Depository, as Holder thereof, and the Depository shall be
responsible for crediting the amount of such distribution to the accounts of its
Depository Participants in accordance with its normal procedures. Each
Depository Participant shall be responsible for disbursing such distribution to
the Certificate Owners that it represents and to each indirect participating
brokerage firm (a "brokerage firm" or "indirect participating firm") for which
it acts as agent. Each brokerage firm shall be responsible for disbursing funds
to the Certificate Owners that it represents. None of the Trustee, the
Certificate Registrar, the Depositor, the Master Servicer, the Special Servicer
or the REMIC Administrator shall have any responsibility therefor except as
otherwise provided by this Agreement or applicable law.

      (f) The rights of the Certificateholders to receive distributions from the
proceeds of the Trust Fund in respect of their Certificates, and all rights and
interests of the Certificateholders in and to such distributions, shall be as
set forth in this Agreement. Neither the Holders of any Class of Certificates
nor any party hereto shall in any way be responsible or liable to the Holders of
any other Class of Certificates in respect of amounts properly previously
distributed on the Certificates. Distributions in reimbursement of Realized
Losses and Additional Trust Fund Expenses previously allocated to a Class of
Certificates shall not constitute distributions of principal and shall not
result in a reduction of the related Class Principal Balance.

      (g) Except as otherwise provided in Section 9.01, whenever the Trustee
expects that the final distribution with respect to any Class of Certificates
(determined without regard to any possible future reimbursement of any Realized
Loss or Additional Trust Fund Expense previously allocated to such Class of
Certificates) will be made on the next Distribution Date, the Trustee shall, as
soon as practicable in the month in which such Distribution Date occurs, mail to
each Holder of such Class of Certificates as of the date of mailing a notice to
the effect that:

            (i) the Trustee expects that the final distribution with respect to
      such Class of Certificates will be made on such Distribution Date but only
      upon presentation and surrender of such Certificates at the Corporate
      Trust Office or such other location therein specified, and

            (ii) no interest shall accrue on such Certificates from and after
      such Distribution Date.

      Any funds not distributed to any Holder or Holders of Certificates of such
Class on such Distribution Date because of the failure of such Holder or Holders
to tender their Certificates shall, on such date, be set aside and held
uninvested in trust and credited to the account or accounts of the appropriate
non-tendering Holder or Holders. If any Certificates as to which notice has been
given pursuant to this Section 4.01(g) shall not have been surrendered for
cancellation within six months after the time specified in such notice, the
Trustee shall mail a second notice to the remaining non-tendering
Certificateholders to surrender their Certificates for cancellation to receive
the final distribution with respect thereto. If within one year after the second
notice all such Certificates shall not have been surrendered for cancellation,
the Trustee, directly or through an agent, shall take such steps to contact the
remaining non-tendering Certificateholders concerning the surrender of their
Certificates as it shall deem appropriate. The costs and expenses of holding
such funds in trust and of contacting such Certificateholders following the
first anniversary of the delivery of such second notice to the non-tendering
Certificateholders shall be paid out of such funds. No interest shall accrue or
be payable to any Certificateholder on any amount held in trust hereunder by the
Trustee as a result of such Certificateholder's failure to surrender its
Certificate(s) for final payment thereof in accordance with this Section
4.01(g). If all of the Certificates shall not have been surrendered for
cancellation by the second anniversary of the delivery of the second notice, the
Trustee shall distribute to the Class R-II Certificateholders all unclaimed
funds and other assets that remain subject hereto.

      (h) Notwithstanding any other provision of this Agreement, the Trustee
shall comply with all federal withholding requirements respecting payments to
Certificateholders of interest or original issue discount that the Trustee
reasonably believes are applicable under the Code taking into account any
applicable exemptions from, or reductions in, withholding upon receipt of
appropriate IRS forms and documentation. The consent of Certificateholders shall
not be required for such withholding. In the event the Trustee does withhold any
amount from interest or original issue discount payments or advances thereof to
any Certificateholder pursuant to federal withholding requirements, the Trustee
shall indicate the amount withheld to such Certificateholders. Such amounts
shall be deemed to have been distributed to such Certificateholders for all
purposes of this Agreement.

      (i) On each Distribution Date, any Excess Interest received during the
related Collection Period with respect to the Mortgage Loans shall be withdrawn
by the Trustee from the Excess Interest Distribution Account and distributed by
the Trustee to the Holders of the Class V Certificates.

      (j) On the final Master Servicer Remittance Date, the Master Servicer
shall withdraw from the Certificate Account and deliver to the REMIC
Administrator who shall distribute to the Holders of the Residual Certificates,
any Loss of Value Payments transferred from the Loss of Value Reserve Fund to
the Certificate Account on the immediately preceding Master Servicer Remittance
Date in accordance with Section 3.05(a), to the extent not otherwise included in
the Available Distribution Amount for the final Distribution Date.

      Section 4.02 Statements to Certificateholders; Certain Reports by the
Master Servicer and the Special Servicer.

      (a) On each Distribution Date, the Trustee shall provide or make
available, either in electronic format or by first class mail to each Holder
(and, if it shall have certified to the Trustee as to its Ownership Interest in
a Class of Book-Entry Certificates, each Certificate Owner) of the Certificates,
to the Rating Agencies a statement substantially in the form set forth as
Exhibit G hereto (a "Distribution Date Statement") and based upon the
information provided by the Master Servicer in accordance with Commercial
Mortgage Securities Association guidelines, as to the distributions made on such
Distribution Date setting forth:

            (i) the amount of the distribution, if any, on such Distribution
      Date to the Holders of each Class of REMIC II Regular Certificates in
      reduction of the Class Principal Balance thereof;

            (ii) the amount of the distribution, if any, on such Distribution
      Date to the Holders of each Class of REMIC II Regular Certificates
      allocable to Distributable Certificate Interest, if any, on such
      Distribution Date to the Holders of each Class of REMIC II Regular
      Certificates allocable to Prepayment Premiums;

            (iii) [Reserved];

            (iv) [Reserved];

            (v) the Available Distribution Amount;

            (vi) the aggregate amount of P&I Advances made in respect of the
      Mortgage Pool and in respect of each Loan Group for such Distribution
      Date;

            (vii) the aggregate amount of unreimbursed P&I Advances that had
      been outstanding with respect to the Mortgage Pool and with respect to
      each Loan Group as of the close of business on the related Determination
      Date and the aggregate amount of unreimbursed Servicing Advances that had
      been outstanding with respect to the Mortgage Pool and with respect to
      each Loan Group as of the close of business on the related Determination
      Date;

            (viii) the aggregate Stated Principal Balance of the Mortgage Pool
      outstanding immediately before and immediately after such Distribution
      Date;

            (ix) the number, aggregate principal balance, weighted average
      remaining term to maturity and weighted average Mortgage Rate of the
      Mortgage Pool as of the end of the Collection Period for the immediately
      preceding Determination Date;

            (x) as of the Determination Date for the related Distribution Date,
      the number, aggregate unpaid principal balance and specific identification
      (by loan number) of Mortgage Loans (A) delinquent 30-59 days, (B)
      delinquent 60-89 days, (C) delinquent 90 or more days, (D) current but
      specially serviced or in foreclosure but not a REO Property and (E)
      identification of Mortgage Loans the Mortgagor for which is subject to
      bankruptcy;

            (xi) with respect to any REO Property included in the Trust Fund as
      of the end of the Collection Period for such Distribution Date, the
      principal balance of the Mortgage Loan as of the date such Mortgage Loan
      became delinquent;

            (xii) the Accrued Certificate Interest and Distributable Certificate
      Interest in respect of each Class of REMIC II Regular Certificates for
      such Distribution Date;

            (xiii) the aggregate amount of Distributable Certificate Interest
      payable in respect of each Class of REMIC II Regular Certificates on such
      Distribution Date, including, without limitation, any Distributable
      Certificate Interest remaining unpaid from prior Distribution Dates;

            (xiv) any unpaid Distributable Certificate Interest in respect of
      each Class of REMIC II Regular Certificates after giving effect to the
      distributions made on such Distribution Date;

            (xv) the Pass Through Rate for each Class of REMIC II Regular
      Certificates for such Distribution Date;

            (xvi) the Principal Distribution Amount with respect to the Mortgage
      Pool and with respect to each Loan Group for such Distribution Date,
      separately identifying the amounts distributable to each Class of REMIC II
      Regular Certificates;

            (xvii) the aggregate of all Realized Losses incurred during the
      related Collection Period and all Additional Trust Fund Expenses incurred
      during the related Collection Period, and an itemization of all such
      Additional Trust Fund Expenses;

            (xviii) the Certificate Principal Balance or Notional Amount, as the
      case may be, of each Class of REMIC II Regular Certificates outstanding
      immediately before and immediately after such Distribution Date,
      separately identifying any reduction therein due to the allocation of
      Realized Losses and Additional Trust Fund Expenses on such Distribution
      Date;

            (xix) the Certificate Factor for each Class of REMIC II Regular
      Certificates immediately following such Distribution Date;

            (xx) the aggregate amount of servicing fees paid to the Master
      Servicer and the Special Servicer, collectively and separately, during the
      related Collection Period;

            (xxi) a brief description of any material waiver, modification or
      amendment of any Loan entered into by the Master Servicer or Special
      Servicer pursuant to Section 3.20 during the related Collection Period;

            (xxii) current and cumulative outstanding Advances with respect to
      the Mortgage Pool and with respect to each Loan Group;

            (xxiii) current prepayments and curtailments;

            (xxiv) the number and aggregate principal balance of Mortgage Loans
      as to which foreclosure proceedings have been commenced as to the related
      Mortgaged Property;

            (xxv) the ratings from all Rating Agencies for all Classes of
      Certificates;

            (xxvi) the CMSA Reconciliation of Funds Report;

            (xxvii) the date of such Distribution Date, and of the Record Date,
      Interest Accrual Period, and Determination Date for such Distribution
      Date;

            (xxviii) the amount of other fees and expenses accrued and paid from
      the Trust Fund, including without limitation Advance reimbursements and
      Advance Interest, and specifying the purpose of such fees or expenses and
      the party receiving payment thereof, if applicable;

            (xxix) material breaches of mortgage loan representations and
      warranties of which the Trustee, the Master Servicer or the Special
      Servicer has received written notice;

            (xxx) as of the related Determination Date: (i) as to any REO
      Property sold during the related Collection Period, the date of the
      related determination by the Special Servicer that it has recovered all
      payments which it expects to be finally recoverable and the amount of the
      proceeds of such sale deposited into the applicable Certificate Account,
      and (ii) the aggregate amount of other revenues collected by the Special
      Servicer with respect to each REO Property during the related Collection
      Period and credited to the Certificate Account, in each case identifying
      such REO Property by the loan number of the Mortgage Pool; and

            (xxxi) the amount of any Appraisal Reductions effected during the
      related Collection Period on a loan-by-loan basis and the total Appraisal
      Reductions in effect as of such Distribution Date, with respect to the
      Mortgage Pool.

      Any item of information disclosed to the Trustee by the Master Servicer
pursuant to Section 3.19(a) since the preceding Distribution Date (or, in the
case of the initial Distribution Date, since the Closing Date) shall be made
available with the Distribution Date Statement.

      In the case of information furnished pursuant to clauses (i), (ii) and
(iii) above, the amounts shall be expressed as a dollar amount in the aggregate
for all Certificates of each applicable Class and per Single Certificate. Except
with respect to the Certificate Factor (required to be reported by clause (xix)
above), financial information reported by the Trustee to the Certificateholders
pursuant to this Section 4.02 shall be expressed as a dollar amount rounded to
the nearest whole cent. Absent actual knowledge of an error therein, the Trustee
shall have no obligation to recompute, recalculate or verify any information
provided to it by the Master Servicer or Special Servicer. The calculations by
the Trustee contemplated by this Section 4.02 shall, in the absence of manifest
error, be presumptively deemed to be correct for all purposes hereunder.

      The Trustee shall be entitled to rely on but shall not be responsible for
the content or accuracy of any information provided by third parties for
purposes of preparing the Distribution Date Statement and may affix thereto any
disclaimer it deems appropriate in its reasonable discretion (without suggesting
liability on the part of any other party hereto).

      Within a reasonable period of time after the end of each calendar year,
the Trustee shall furnish to each Person who at any time during the calendar
year was a Holder of a REMIC II Regular Certificate a statement containing the
information as to the applicable Class set forth in clauses (i), (ii) and (iii)
above of the description of Distribution Date Statement, aggregated for such
calendar year or applicable portion thereof during which such Person was a
Certificateholder, together with such other information as the Trustee
determines to be necessary to enable Certificateholders to prepare their tax
returns for such calendar year. Such obligation of the Trustee shall be deemed
to have been satisfied to the extent that substantially comparable information
shall be provided by the Trustee pursuant to any requirements of the Code as
from time to time are in force.

      Upon filing with the IRS, the REMIC Administrator shall furnish to the
Holders of the Class R-I and Class R-II Certificates the IRS Form 1066 and shall
furnish their respective Schedules Q thereto at the times required by the Code
or the IRS, and shall provide from time to time such information and
computations with respect to the entries on such forms as any Holder of the
Class R-I and Class R-II Certificates may reasonably request.

      The Trustee will make available each month, to the general public, the
Distribution Date Statement (and any additional files containing the same
information in an alternative format) via the Trustee's Website. In addition,
the Trustee will make available to the general public each month the Servicer
Reports, the CMSA Loan Setup File and the Trustee's Reports on the Trustee's
Website. In addition, the Trustee will make available, as a convenience for
interested parties (and not in furtherance of the distribution of the Base
Prospectus and the Prospectus Supplement under the securities laws), this
Agreement, the Base Prospectus and the Prospectus Supplement via the Trustee's
Website. The Trustee will also make available copies of the Depositor's
registration statement and any other materials the Depositor files with the
Securities and Exchange Commission, including distribution reports on Form 10-D,
annual reports on Form 10-K, current reports on Form 8-K and amendments to these
reports available through this website promptly upon filing. The Trustee shall
have the right to change the way the monthly statements to Certificateholders
are distributed in order to make such distribution more convenient and/or more
accessible to the above parties and the Trustee shall provide timely and
adequate notification to all above parties regarding any such changes. For
assistance with the above-referenced services, interested parties may call (312)
904-0708. The Trustee will make no representations or warranties as to the
accuracy or completeness of such documents and will assume no responsibility
therefor. In addition, upon authorization of the Depositor, that is hereby
given, the Trustee shall make available to Bloomberg, L.P., Trepp, LLC, Intex
Solutions, Inc. and Standard & Poor's Conquest or such other vendors as chosen
by the Depositor, including Reuters, all electronic reports delivered or made
available pursuant to Section 4.02 of this Agreement to the Certificateholders
using a format mutually acceptable to such vendors and the Trustee.

      In connection with providing access to the Trustee's Website, the Trustee
may require registration and the acceptance of a disclaimer. The Trustee shall
not be liable for the dissemination of the information in accordance herewith.

      (b) By 12:00 noon (New York City time) on the third Business Day following
each Determination Date (or with respect to the CMSA Loan Periodic Update File,
by 2:00 p.m. (New York City time) on the second Business Day following each
Determination Date), the Master Servicer shall deliver to the Trustee, in a
computer-readable medium downloadable by the Trustee, each of the files and
reports comprising the CMSA Investor Reporting Package (other than the CMSA Bond
Level File and the CMSA Collateral Summary File, which are prepared by the
Trustee), each reflecting information as of the close of business on such
Determination Date, in a mutually agreeable electronic format. The CMSA Loan
Periodic Update File contained in the CMSA Investor Reporting Package and any
written information supplemental thereto shall include such information with
respect to the Mortgage Loans that is reasonably required by the Trustee for
purposes of making the calculations and preparing the reports for which the
Trustee is responsible pursuant to Section 4.01, this Section 4.02, Section 4.04
or any other section of this Agreement, as set forth in reasonable written
specifications or guidelines issued by the Trustee from time to time. Such
information may be delivered by the Master Servicer to the Trustee by telecopy
or in such electronic or other form as may be reasonably acceptable to the
Trustee and the Master Servicer.

      The Special Servicer shall from time to time (and, in any event, as may be
reasonably required by the Master Servicer) provide the Master Servicer with
such information in its possession regarding the Specially Serviced Loans and
REO Properties as may be necessary for the Master Servicer to prepare each
report and any supplemental information to be provided by the Master Servicer to
the Trustee.

      Notwithstanding the foregoing, the failure of the Master Servicer or the
Special Servicer to disclose any information otherwise required to be disclosed
pursuant to Section 4.02(a) or this Section 4.02(b) shall not constitute a
breach of Section 4.02(a) or of this Section 4.02(b) to the extent the Master
Servicer or the Special Servicer so fails because such disclosure, in the
reasonable belief of the Master Servicer or the Special Servicer, as the case
may be, would violate any applicable law or any provision of a Loan document
prohibiting disclosure of information with respect to the Loans or the Mortgaged
Properties, would constitute a waiver of the attorney-client privilege on behalf
of the Trust or would otherwise materially harm the Trust Fund. The Master
Servicer or the Special Servicer may affix to any information provided by it any
disclaimer it deems appropriate in its reasonable discretion (without suggesting
liability on the part of any other party hereto).

      (c) Not later than 2:00 p.m. (New York City time) on the first Business
Day following each Determination Date, the Special Servicer shall prepare and
deliver or cause to be delivered to the Master Servicer, the following reports
(or data fields required for the Master Servicer to produce such reports) with
respect to the Specially Serviced Loans and any REO Properties, providing the
required information as of such Determination Date: (i) a CMSA Property File;
and (ii) a CMSA Special Servicer Loan File. In addition, the Special Servicer
shall from time to time provide the Master Servicer with such information in the
Special Servicer's possession regarding the Specially Serviced Loans and REO
Properties as may be requested by the Master Servicer and is reasonably
necessary for the Master Servicer to prepare each report and any supplemental
information required to be provided by the Master Servicer to the Trustee.

      (d) Notwithstanding anything herein to the contrary, the failure of the
Master Servicer or Special Servicer to disclose any information otherwise
required to be disclosed by this Section 4.02 shall not constitute a breach of
this Section 4.02 to the extent the Master Servicer or Special Servicer so fails
because such disclosure, in the reasonable belief of the Master Servicer or the
Special Servicer as the case may be, would violate any applicable law or any
provision of a Loan document prohibiting disclosure of information with respect
to the Loans or Mortgaged Properties or would constitute a waiver of the
attorney-client privilege on behalf of the Trust. The Master Servicer and
Special Servicer may disclose any such information or any additional information
to any Person so long as such disclosure is consistent with applicable law, the
related loan documents and the Servicing Standard. The Master Servicer or the
Special Servicer may affix to any information provided by it any disclaimer it
deems appropriate in its reasonable discretion (without suggesting liability on
the part of any other party hereto).

      (e) If the Master Servicer or the Special Servicer is required to deliver
any statement, report or information under any provision of this Agreement
(other than reports to be delivered to the Trustee, which shall be delivered
directly to the Trustee in a mutually agreeable electronic format), the Master
Servicer or the Special Servicer, as the case may be, may satisfy such
obligation by (x) physically delivering a paper copy of such statement, report
or information, (y) delivering such statement, report or information in a
commonly used electronic format or (z) making such statement, report or
information available on the Master Servicer's internet website, unless this
Agreement expressly specifies a particular method of delivery.

      Section 4.03 P&I Advances.

      (a) On each Master Servicer Remittance Date, the Master Servicer shall in
the case of all Mortgage Loans, either (i) deposit into the Distribution Account
from its own funds an amount equal to the aggregate amount of P&I Advances, if
any, to be made in respect of the related Distribution Date, (ii) apply amounts
held in the Certificate Account for future distribution to Certificateholders in
subsequent months in discharge of any such obligation to make P&I Advances, or
(iii) make P&I Advances in the form of any combination of (i) and (ii)
aggregating the total amount of P&I Advances to be made; provided that if Late
Collections of any of the delinquent principal and/or interest in respect of
which it is to make P&I Advances on any Master Servicer Remittance Date are then
on deposit in the Certificate Account, the Master Servicer shall use such Late
Collections (net of any Master Servicing Fees, Liquidation Fees and Workout Fees
payable therefrom) to make such P&I Advances. Any amounts held in the
Certificate Account for future distribution and so used to make P&I Advances
(other than the Late Collections of the delinquent principal and/or interest
contemplated by the proviso to the preceding sentence) shall be appropriately
reflected in the Master Servicer's records and replaced by the Master Servicer
by deposit into the Certificate Account on or before the next succeeding
Determination Date (to the extent not previously replaced through the deposit of
Late Collections of the delinquent principal and/or interest in respect of which
such P&I Advances were made). If, as of 3:00 p.m., New York City time, on any
Master Servicer Remittance Date, the Master Servicer shall not have made any P&I
Advance required to be made (other than a P&I Advance with respect to a
Companion Loan) on such date pursuant to this Section 4.03(a) (and shall not
have delivered to the Trustee the requisite Officer's Certificate and
documentation related to a determination of nonrecoverability of a P&I Advance),
then the Trustee shall provide notice of such failure to a Servicing Officer of
the Master Servicer by facsimile transmission sent to telecopy no. (213)
345-7240 (or such alternative number provided by the Master Servicer to the
Trustee in writing) and by telephone at telephone no. (800) 462-0505 (or such
alternative number provided by the Master Servicer to the Trustee in writing) as
soon as possible, but in any event before 4:00 p.m., New York City time, on such
Master Servicer Remittance Date. If, after such notice, the Trustee does not
receive the full amount of such P&I Advances by the close of business (New York
City time) on such Master Servicer Remittance Date, then (i) unless the Trustee
determines that such Advance would be a Nonrecoverable P&I Advance if made or
the Trustee shall make, by 11:00 a.m. on the Distribution Date or in any event
by such time as shall be required to make the required distribution on such
Distribution Date, the portion of such P&I Advances that was required to be, but
was not, made by the Master Servicer on such Master Servicer Remittance Date and
(ii) such failure shall constitute an Event of Default on the part of the Master
Servicer. None of the Master Servicer or the Trustee shall be required to make a
P&I Advance on any Companion Loan.

      (b) The aggregate amount of P&I Advances to be made in respect of the
Loans (including, without limitation, Balloon Loans that are included in the
Trust Fund delinquent as to their respective Balloon Payments) and any REO
Serviced Loans for any Distribution Date shall equal, subject to subsection (c)
below, the aggregate of all Monthly Payments (other than Balloon Payments) and
any Assumed Monthly Payments, in each case net of related Master Servicing Fees
and, if applicable, any Non-Serviced Mortgage Loan Primary Servicing Fee payable
hereunder, that were due or deemed due, as the case may be, in respect thereof
on their respective Due Dates during the related Collection Period and that were
not paid by or on behalf of the related Mortgagors or otherwise collected as of
the close of business on the Business Day before the Master Servicer Remittance
Date; provided that if an Appraisal Reduction Amount exists with respect to any
Required Appraisal Serviced Loan, then, in the event of subsequent delinquencies
thereon, the interest portion of the P&I Advance in respect of such Required
Appraisal Serviced Loan for the related Distribution Date shall be reduced (it
being herein acknowledged that there shall be no reduction in the principal
portion of such P&I Advance) to equal the product of (i) the amount of the
interest portion of such P&I Advance for such Required Appraisal Serviced Loan
for such Distribution Date without regard to this proviso, multiplied by (ii) a
fraction, expressed as a percentage, the numerator of which is equal to the
Stated Principal Balance of such Required Appraisal Serviced Loan immediately
prior to such Distribution Date, net of the related Appraisal Reduction Amount,
if any, and the denominator of which is equal to the Stated Principal Balance of
such Required Appraisal Serviced Loan immediately prior to such Distribution
Date; provided, further, that the Master Servicer shall not advance Excess
Interest with respect to ARD Loans or a Prepayment Premium.

      (c) Notwithstanding anything herein to the contrary, no P&I Advance shall
be required to be made hereunder if such P&I Advance would, if made, constitute
a Nonrecoverable P&I Advance. In addition, with respect to the Mortgage Loans,
Nonrecoverable P&I Advances shall be reimbursable pursuant to Section 3.05(a)
out of general collections on the Mortgage Pool on deposit in the Certificate
Account. The determination by the Master Servicer or the Trustee that it has
made a Nonrecoverable P&I Advance has been made or that any proposed P&I
Advance, if made, would constitute a Nonrecoverable P&I Advance, or any such
determination made by the Special Servicer, shall be evidenced by an Officer's
Certificate delivered promptly (and, in any event, in the case of a proposed P&I
Advance by the Master Servicer, no less than five Business Days prior to the
related Master Servicer Remittance Date) to the Trustee (or, if applicable,
retained thereby), the Depositor, the Rating Agencies and the Directing
Certificateholder setting forth the basis for such determination, together with
(such determination is prior to the liquidation of the related Loan or REO
Property) a copy of an Appraisal of the related Mortgaged Property or REO
Property, as the case may be, which shall have been performed within the 12
months preceding such determination, and further accompanied by any other
information that the Master Servicer or the Special Servicer may have obtained
that supports such determination. The Trustee shall deliver such Officer's
Certificate as soon as practicable after its determination that such P&I Advance
would be nonrecoverable. If such an Appraisal shall not have been required and
performed pursuant to the terms of this Agreement, the Master Servicer may,
subject to its reasonable and good faith determination that such Appraisal will
demonstrate the nonrecoverability of the related Advance, obtain an Appraisal
for such purpose at the expense of the Trust out of general collections. The
Trustee shall be entitled to rely on any determination of nonrecoverability that
may have been made by the Master Servicer with respect to a particular P&I
Advance, and the Master Servicer and the Trustee shall be entitled to rely on
any determination of nonrecoverability that may have been made by the Special
Servicer with respect to a particular P&I Advance in the case of Specially
Serviced Loans.

      (d) As and to the extent permitted by Section 3.05(a) or Section 3.05(f)
with respect to a Whole Loan or any portion thereof, the Master Servicer and the
Trustee shall be entitled to receive interest at the Reimbursement Rate in
effect from time to time, accrued on the amount of each P&I Advance made thereby
(out of its own funds), to the extent that such P&I Advance relates to a Past
Grace Period Serviced Loan when made, or remains outstanding when such Serviced
Loan becomes a Past Grace Period Serviced Loan, in which case such interest
shall begin to accrue when such Serviced Loan becomes a Past Grace Period
Serviced Loan, for so long as such P&I Advance is outstanding (or, in the case
of Advance Interest payable to the Master Servicer, if earlier, until the Late
Collection of the delinquent principal and/or interest in respect of which such
P&I Advance was made has been received by the Master Servicer). Such interest
will be paid: first, out of any Default Charges as set forth in Section 3.27;
and second, at any time coinciding with or following the reimbursement of such
P&I Advance, out of general collections on the Mortgage Loans and any REO
Properties on deposit in the Certificate Account.

      (e) With regard to such P&I Advances, the Master Servicer, the Special
Servicer or the Trustee shall account for that part of the P&I Advances that is
attributable to Past Grace Period Serviced Loans, and that part of the P&I
Advances that is attributable to Within Grace Period Loans.

      Section 4.04 Allocation of Realized Losses and Additional Trust Fund
Expenses.

      (a) On each Distribution Date, the Trustee shall determine the amount, if
any, by which (i) the then aggregate Certificate Principal Balance of the
Sequential Pay Certificates exceeds (ii) the aggregate Stated Principal Balance
of the Mortgage Pool that will be outstanding immediately following such
Distribution Date (provided, however, that for purposes of this calculation, any
Workout-Delayed Reimbursement Amounts paid from principal collections on the
Mortgage Pool shall for purposes of this calculation be deemed to still be
outstanding unless the related Unliquidated Advance has been determined to be a
Nonrecoverable Advance on the related Serviced Loan or a Final Determination has
been made with respect to the related Serviced Loan or the related Mortgage Loan
or REO Property is otherwise liquidated or disposed). If such excess does exist,
then the Class Principal Balances of the Class P, Class O, Class N, Class M,
Class L, Class K, Class J, Class H, Class G, Class F, Class E, Class D, Class C,
Class B, Class A-J and Class A-M Certificates shall be reduced sequentially, in
that order in each case, until such excess or the related Class Principal
Balance is reduced to zero (whichever occurs first). If, after the foregoing
reductions, the amount described in clause (i) of the second preceding sentence
still exceeds the amount described in clause (ii) of the second preceding
sentence, then the respective Class Principal Balances of the Class A-1
Certificates, the Class A-2 Certificates, the Class A-3 Certificates, the Class
A-AB Certificates, the Class A-4 Certificates and the Class A-1A Certificates
shall be reduced, pro rata in accordance with the relative sizes of the then
outstanding Class Principal Balances of such Classes of Certificates, until such
excess or each such Class Principal Balance is reduced to zero (whichever occurs
first). Such reductions in the Class Principal Balances of the respective
Classes of the Sequential Pay Certificates shall be deemed to be allocations of
Realized Losses and Additional Trust Fund Expenses, to the extent not covered by
reductions in distributions of interest pursuant to the allocations set forth in
Section 4.01(b).

      (b) With respect to any Distribution Date, any Realized Losses or
Additional Trust Fund Expenses allocated pursuant to Section 4.04(a) with
respect to such Distribution Date shall reduce the REMIC I Principal Balances of
the REMIC I Regular Interests as a write-off and shall be allocated among the
REMIC I Regular Interests in the same priority as the Class of Corresponding
Certificates.

      Section 4.05 Interest Reserve Account.

      The Master Servicer shall establish and maintain the Interest Reserve
Account in the Trustee's name for the benefit of the Certificateholders. The
Interest Reserve Account shall be established and maintained, at all times, as
an Eligible Account, which the Master Servicer may (but shall not be obligated
to) invest only in Permitted Investments in accordance with Section 3.06. On
each Master Servicer Remittance Date occurring in February and each Master
Servicer Remittance Date in January of any year that is not a leap year (unless,
in either case, the related Distribution Date is the final Distribution Date),
the Master Servicer shall withdraw from the Certificate Account, in respect of
each Mortgage Loan (other than any Non-Serviced Mortgage Loan) that accrues
interest on an Actual/360 Basis, and deposit into the Interest Reserve Account,
an amount equal to one day's interest at the related Net Mortgage Rate on the
Stated Principal Balance of each such Mortgage Loan or as of the Distribution
Date in the month preceding the month in which such Master Servicer Remittance
Date occurs, to the extent a Monthly Payment or P&I Advance is made in respect
thereof (all amounts so deposited in any consecutive January (if applicable) and
February, "Withheld Amounts"). On the Master Servicer Remittance Date in March
of each calendar year (or February, if the related Distribution Date is the
final Distribution Date), the Master Servicer shall remit to the Trustee for
deposit into the REMIC I Distribution Account all Withheld Amounts on deposit in
the Interest Reserve Account with respect to Mortgage Loans.

      Section 4.06 Excess Interest Distribution Account.

      The Trustee shall establish and maintain the Excess Interest Distribution
Account in trust for the benefit of the Class V Certificateholders whether or
not such Certificates have an outstanding Class Principal Balance. The Excess
Interest Distribution Account shall be established and maintained at all times
as an Eligible Account, which the Trustee may (but shall not be obligated to)
invest only in Permitted Investments in accordance with Section 3.06. The Excess
Interest Distribution Account may be a sub-account of the Distribution Account.
Prior to the applicable Distribution Date, the Master Servicer shall remit to
the Trustee for deposit in the Excess Interest Distribution Account an amount
equal to the Excess Interest received during the applicable Collection Period.
Following the distribution of Excess Interest to Class V Certificateholders on
the first Distribution Date after which there are no longer any Mortgage Loans
outstanding which pursuant to their terms could pay Excess Interest, the Trustee
shall terminate the Excess Interest Distribution Account.

<PAGE>

                                   ARTICLE V

                                THE CERTIFICATES

      Section 5.01 The Certificates.

      (a) The Certificates will be substantially in the respective forms annexed
hereto as Exhibits A-1 through and including A-29; provided that any of the
Certificates may be issued with appropriate insertions, omissions, substitutions
and variations, and may have imprinted or otherwise reproduced thereon such
legend or legends, not inconsistent with the provisions of this Agreement, as
may be required to comply with any law or with rules or regulations pursuant
thereto, or with the rules of any securities market in which the Certificates
are admitted to trading, or to conform to general usage. The Certificates will
be issuable in registered form only; provided, however, that in accordance with
Section 5.03 beneficial ownership interests in the REMIC II Regular Certificates
shall initially be held and transferred through the book-entry facilities of the
Depository. 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 will be issuable in denominations
corresponding to initial Certificate Principal Balances as of the Closing Date
of not less than $10,000 and any whole dollar denomination in excess thereof;
the Class XW Certificates will be issuable in denominations corresponding to
initial Notional Balances as of the Closing Date of not less than $1,000,000 and
any whole dollar denomination in excess thereof; and the Class B, Class C, Class
D, Class E, Class F, Class G, Class H, Class J, Class K, Class L, Class M, Class
N, Class O and Class P Certificates will be issuable in denominations
corresponding to initial Certificate Principal Balances as of the Closing Date
of not less than $100,000 and any whole dollar denomination in excess thereof;
provided, however, that a single Certificate of any Class thereof may be issued
in a different denomination. The Class V Certificates will be issuable only in
denominations representing not less than 10% of the Percentage Interest. Each
Class of Residual Certificates will be issuable only in a denomination
representing the entire Class. With respect to any Certificate or any beneficial
interest in a Certificate, the "Denomination" thereof shall be (i) the amount
(a) set forth on the face thereof, (b) set forth on a schedule attached thereto
or (c) in the case of any beneficial interest in a Book-Entry Certificate, the
interest of the related Certificate Owner in the applicable Class of
Certificates as reflected on the books and records of the Depository or related
Participants, as applicable, (ii) expressed in terms of initial Certificate
Principal Balance or initial Notional Amount, as applicable, and (iii) be in an
authorized denomination, as set forth above. The Book-Entry Certificates will be
issued as one or more certificates registered in the name of a nominee
designated by the Depository, and Certificate Owners will hold interests in the
Book-Entry Certificates through the book-entry facilities of the Depository in
the minimum Denominations and aggregate Denominations as set forth in the above.
No Certificate Owner of a Book-Entry Certificate of any Class thereof will be
entitled to receive a Definitive Certificate representing its interest in such
Class, except as provided in Section 5.03. Unless and until Definitive
Certificates are issued in respect of a Class of Book-Entry Certificates,
beneficial ownership interests in such Class of Certificates will be maintained
and transferred on the book-entry records of the Depository and Depository
Participants, and all references to actions by Holders of such Class of
Certificates will refer to action taken by the Depository upon instructions
received from the related registered Holders of Certificates through the
Depository Participants in accordance with the Depository's procedures and,
except as otherwise set forth herein, all references herein to payments,
notices, reports and statements to Holders of such Class of Certificates will
refer to payments, notices, reports and statements to the Depository or its
nominee as the registered Holder thereof, for distribution to the related
registered Holders of Certificates through the Depository Participants in
accordance with the Depository's procedures.

      (b) The Certificates shall be executed by manual or facsimile signature on
behalf of the Trustee in its capacity as trustee hereunder by an authorized
signatory. Certificates bearing the manual or facsimile signatures of
individuals who were at any time the authorized officers of the Trustee shall be
entitled to all benefits under this Agreement, subject to the following
sentence, notwithstanding that such individuals or any of them have ceased to
hold such offices prior to the authentication and delivery of such Certificates
or did not hold such offices at the date of such Certificates. No Certificate
shall be entitled to any benefit under this Agreement, or be valid for any
purpose, however, unless there appears on such Certificate a certificate of
authentication substantially in the form provided for herein executed by the
Certificate Registrar by manual signature, and such certificate of
authentication upon any Certificate shall be conclusive evidence, and the only
evidence, that such Certificate has been duly authenticated and delivered
hereunder. All Certificates shall be dated the date of their authentication;
provided that the Certificates, issued on the Closing Date shall, in any event,
be dated the Closing Date.

      (c) Any Definitive Certificates shall be printed, typewritten,
lithographed or engraved or produced by any combination of these methods or may
be produced in any other manner permitted by the rules of any securities
exchange on which any of the Certificates may be listed, or as may, consistently
herewith, be determined by the officers executing such Certificates, as
evidenced by their execution thereof.

      Section 5.02 Registration of Transfer and Exchange of Certificates.

      (a) At all times during the term of this Agreement, there shall be
maintained at the office of the Certificate Registrar a Certificate Register in
which, subject to such reasonable regulations as the Certificate Registrar
(located as of the Closing Date at 135 South LaSalle Street, Suite 1625,
Chicago, Illinois 60603) may prescribe, the Certificate Registrar shall provide
for the registration of Certificates and of transfers and exchanges of
Certificates as herein provided. The Trustee is hereby initially appointed (and
hereby agrees to act in accordance with the terms hereof) as Certificate
Registrar for the purpose of registering Certificates and transfers and
exchanges of Certificates as herein provided. The Trustee may appoint, by a
written instrument delivered to the Depositor, the Master Servicer, the Special
Servicer and the REMIC Administrator, any other bank or trust company to act as
Certificate Registrar under such conditions as the predecessor Certificate
Registrar may prescribe, provided that the Trustee shall not be relieved of any
of its duties or responsibilities hereunder as Certificate Registrar by reason
of such appointment. If the Trustee resigns or is removed in accordance with the
terms hereof, the successor trustee shall immediately succeed to its
predecessor's duties as Certificate Registrar. The Depositor, the Master
Servicer, the Special Servicer and the REMIC Administrator shall have the right
to inspect the Certificate Register or to obtain a copy thereof at all
reasonable times, and to rely conclusively upon a certificate of the Certificate
Registrar as to the information set forth in the Certificate Register. Upon
request, the Trustee shall promptly inform, or cause the Certificate Registrar
to inform, the Master Servicer or the Special Servicer, as applicable, of the
identity of all Certificateholders of the Controlling Class.

      If Certificateholders representing more than 25% of any Class of
Certificates (hereinafter referred to as "applicants") apply in writing to the
Trustee, and such application states that the applicants desire to communicate
with other Certificateholders with respect to their rights under this Agreement
or under the Certificates and is accompanied by a copy of the communication that
such applicants propose to transmit, then the Trustee shall, within five
Business Days after the receipt of such application, afford such applicants
access during normal business hours to the most recent list of
Certificateholders held by the Trustee. If the Trustee is no longer the
Certificate Registrar and such a list is as of a date more than 90 days prior to
the date of receipt of such applicants' request, the Trustee shall promptly
request from the Certificate Registrar a current list as provided above, and
shall afford such applicants access to such list promptly upon receipt.

      Every Certificateholder, by receiving and holding such list, agrees with
the Certificate Registrar and the Trustee that neither the Certificate Registrar
nor the Trustee shall be held accountable by reason of the disclosure of any
such information as to the names and addresses of the Certificateholders
hereunder, regardless of the source from which such information was derived.

      (b) No transfer of any Non-Registered Certificate shall be made unless
that transfer is made pursuant to an effective registration statement under the
Securities Act, and effective registration or qualification under applicable
state securities laws, or is made in a transaction that does not require such
registration or qualification. If a transfer (other than one by the Depositor to
an Affiliate thereof or the initial transfer thereof) is to be made in reliance
upon an exemption from the Securities Act, and under the applicable state
securities laws, then either: (i) the Certificate Registrar shall require that
the transferee deliver to the Certificate Registrar an investment representation
letter (the "Investment Representation Letter") substantially in the form of
Exhibit B attached hereto, which Investment Representation Letter shall certify,
among other things, that the transferee is an institutional "accredited
investor" as defined in Rule 501(a)(1), (2), (3) or (7) of Regulation D under
the Securities Act (an "Institutional Accredited Investor") or a "qualified
institutional buyer" as defined in Rule 144A under the Securities Act (a
"Qualified Institutional Buyer"), and the Certificate Registrar may also require
that the transferee deliver to the Certificate Registrar an Opinion of Counsel
if such transferee is not a Qualified Institutional Buyer or (ii) if the
certifications described in the preceding clause (i) cannot be provided, (a) the
Certificate Registrar shall require an Opinion of Counsel reasonably
satisfactory to the Certificate Registrar and the Depositor that such transfer
may be made pursuant to an exemption, describing the applicable exemption and
the basis therefor, from registration or qualification under the Securities Act,
applicable state securities laws and other relevant laws, which Opinion of
Counsel shall not be an expense of the Trust Fund, the Certificate Registrar,
the Depositor or the Trustee and (b) the Certificate Registrar shall require the
transferor to execute a certification in form and substance satisfactory to the
Certificate Registrar setting forth the facts surrounding such transfer;
provided, however, that a transfer of a Non-Registered Certificate of any such
Class may be made to a trust if the transferor provides to the Certificate
Registrar and to the Trustee a certification that interests in such trust may
only be transferred subject to requirements substantially to the effect set
forth in this Section 5.02. The Master Servicer will furnish, or cause to be
furnished, upon the request of any Holder of Non-Registered Certificates, to a
prospective purchaser of such Non-Registered Certificates who is a Qualified
Institutional Buyer, such information relating to the Mortgage Loans that are in
its possession and as is specified in paragraph (d)(4) of Rule 144A with respect
to the Trust Fund, unless, at the time of such request, the entity with respect
to which such information is to be provided is subject to the reporting
requirements of Section 15(d) of the Exchange Act. None of the Depositor, the
Trustee, the Master Servicer, the Special Servicer or the Certificate Registrar
is obligated to register or qualify any Class of Non-Registered Certificates
under the Securities Act or any other securities law or to take any action not
otherwise required under this Agreement to permit the transfer of any
Non-Registered Certificate without registration or qualification. Any Holder of
a Non-Registered Certificate desiring to effect such a transfer shall, and does
hereby agree to, indemnify the Depositor, the Trustee, the Master Servicer, the
Special Servicer and the Certificate Registrar against any liability that may
result if the transfer is not so exempt or is not made in accordance with such
federal and state laws. Unless the Certificate Registrar determines otherwise in
accordance with applicable law and the rules and procedures of, or applicable
to, the Depository (the "Depository Rules"), transfers of a beneficial interest
in a Book-Entry Certificate representing an interest in a Non-Registered
Certificate that is not rated in one of the top four categories by a nationally
recognized statistical rating organization to (i) an Institutional Accredited
Investor will require delivery in the form of a Definitive Certificate and the
Certificate Registrar shall register such transfer only upon compliance with the
foregoing provisions of this Section 5.02(b) or (ii) a Qualified Institutional
Buyer may only be effectuated by means of an "SRO Rule 144A System" approved for
such purpose by the Commission.

      (c) With respect to the ERISA Restricted Certificates, the Class V
Certificates and Residual Certificates: no sale, transfer, pledge or other
disposition by any Holder of any such Certificate shall be made unless the
Certificate Registrar shall have received either (i) a representation letter
from the proposed purchaser or transferee of such Certificate substantially in
the form of Exhibit E attached hereto, to the effect that such proposed
purchaser or transferee is not (a) an employee benefit plan subject to the
fiduciary responsibility provisions of ERISA or a plan subject to Section 4975
of the Code, or a governmental plan (as defined in Section 3(32) of ERISA)
subject to any federal, state or local law ("Similar Law") that is, to a
material extent, similar to the foregoing provisions of ERISA or the Code (each
a "Plan") or (b) a person acting on behalf of or using the assets of any such
Plan (including an entity whose underlying assets include Plan assets by reason
of investment in the entity by such Plan and the application of Department of
Labor Regulation ss. 2510.3-101), other than (except with respect to the Class V
Certificates or a Residual Certificate) an insurance company using the assets of
its general account under circumstances whereby the purchase and holding of such
Certificates by such insurance company would be exempt from the prohibited
transaction provisions of ERISA and the Code under Prohibited Transaction Class
Exemption 95-60 or (ii) except for the Class V Certificates or the Residual
Certificates (which may not be transferred to a Holder who does not make the
representation described in clause (i)(a) or (i)(b)), if such Certificate is
presented for registration in the name of a purchaser or transferee that is any
of the foregoing, any Opinion of Counsel or other certification as the
Certificate Registrar may reasonably require and in form and substance
satisfactory to the Certificate Registrar and the Depositor to the effect that
the acquisition and holding of such Certificate by such purchaser or transferee
will not constitute or result in a non-exempt "prohibited transaction" within
the meaning of ERISA, Section 4975 of the Code or any Similar Law, and will not
subject the Trustee, the Certificate Registrar, the Master Servicer, the Special
Servicer, the Underwriters, the Initial Purchasers or the Depositor to any
obligation or liability (including obligations or liabilities under ERISA,
Section 4975 of the Code or any such Similar Law) in addition to those set forth
in the Agreement. The Certificate Registrar shall not register the sale,
transfer, pledge or other disposition of any such Certificate unless the
Certificate Registrar has received either the representation letter described in
clause (i) above or, with respect to the ERISA Restricted Certificates, the
Opinions of Counsel or other certification described in clause (ii) above. The
costs of any of the foregoing representation letters, certifications or Opinions
of Counsel shall not be borne by any of the Depositor, the Master Servicer, the
Special Servicer, the Trustee, the Underwriters, the Initial Purchasers, the
Certificate Registrar or the Trust Fund. With respect to transfers of Book-Entry
Certificates only, to the extent the purchase or holding of a Certificate
described in this Section 5.02(c) would be restricted by ERISA, the Code or
Similar Law, each Certificate Owner of such Certificate shall be deemed to
represent that it is not a Person specified in clause (i)(a) or (i)(b) above and
therefore shall not be required pursuant to this Section 5.02(c) to deliver to
the Certificate Registrar the representation letter in the form of Exhibit E
attached hereto described in clause (i) above, or the Opinion of Counsel or
other certification described in clause (ii) above. Any transfer, sale, pledge
or other disposition of any such Certificates that would constitute or result in
a prohibited transaction under ERISA, Section 4975 of the Code or any Similar
Law, or would otherwise violate the provisions of this Section 5.02(c) shall be
deemed absolutely null and void ab initio, to the extent permitted under
applicable law.

      Each person owning a beneficial interest in a Certificate shall be deemed
to represent that neither such Person nor any owner of a five percent or greater
interest in such Person is an employer with employees covered by the General
Electric Pension Trust.

      Any transfer, sale, pledge or other disposition of any such Certificates
that would constitute or result in a prohibited transaction under ERISA, Section
4975 of the Code or any Similar Law, or would otherwise violate the provisions
of this Section 5.02(c) shall be deemed absolutely null and void ab initio, to
the extent permitted under applicable law.

      So long as any of the Class of Certificates remains outstanding, the
Master Servicer will make available, or cause to be made available, upon
request, to any Holder and any Person to whom any such Certificate of any such
Class of Certificates may be offered or sold, transferred, pledged or otherwise
disposed of by such Holder, information with respect to the Master Servicer, the
Special Servicer or the Mortgage Loans reasonably necessary to the provision of
an Opinion of Counsel described in this Section 5.02(c).

      (d) (i) Each Person who has or who acquires any Ownership Interest in a
Residual Certificate shall be deemed by the acceptance or acquisition of such
Ownership Interest to have agreed to be bound by the following provisions and to
have irrevocably authorized the Trustee under clause (ii) below to deliver
payments to a Person other than such Person. The rights of each Person acquiring
any Ownership Interest in a Residual Certificate are expressly subject to the
following provisions:

                  (A) Each Person holding or acquiring any Ownership Interest in
            a Residual Certificate shall be a Permitted Transferee and shall
            promptly notify the Trustee and the REMIC Administrator of any
            change or impending change in its status as a Permitted Transferee.

                  (B) In connection with any proposed Transfer of any Ownership
            Interest in a Residual Certificate (other than in connection with
            the initial issuance thereof or the transfer thereof among the
            Depositor and its Affiliates), the Certificate Registrar shall
            require delivery to it, and shall not register the Transfer of any
            Residual Certificate until its receipt of, an affidavit and
            agreement substantially in the form attached hereto as Exhibit C-1
            (a "Transfer Affidavit and Agreement") from the proposed Transferee,
            in form and substance satisfactory to the Certificate Registrar,
            representing and warranting, among other things, that such
            Transferee is a Permitted Transferee, that it is not acquiring its
            Ownership Interest in the Residual Certificate that is the subject
            of the proposed Transfer as a nominee, trustee or agent for any
            Person that is not a Permitted Transferee, that for so long as it
            retains its Ownership Interest in a Residual Certificate it will
            endeavor to remain a Permitted Transferee, and that it has reviewed
            the provisions of this Section 5.02(d) and agrees to be bound by
            them.

                  (C) Notwithstanding the delivery of a Transfer Affidavit and
            Agreement by a proposed Transferee under clause (B) above, if the
            Certificate Registrar has actual knowledge that the proposed
            Transferee is not a Permitted Transferee, no Transfer of an
            Ownership Interest in a Residual Certificate to such proposed
            Transferee shall be effected.

                  (D) Except in connection with the initial issuance of the
            Residual Certificates or any transfer thereof among the Depositor
            and its Affiliates, each Person holding or acquiring any Ownership
            Interest in a Residual Certificate shall agree (1) to require a
            Transfer Affidavit and Agreement from any prospective Transferee to
            whom such Person attempts to transfer its Ownership Interest in such
            Residual Certificate and (2) not to transfer its Ownership Interest
            in such Residual Certificate unless it provides to the Certificate
            Registrar a certificate substantially in the form attached hereto as
            Exhibit C-2 stating that, among other things, it has no actual
            knowledge that such prospective Transferee is not a Permitted
            Transferee.

            (ii) If any purported Transferee shall become a Holder of a Residual
      Certificate in violation of the provisions of this Section 5.02(d), then
      the last preceding Holder of such Residual Certificate that was in
      compliance with the provisions of this Section 5.02(d) shall be restored,
      to the extent permitted by law, to all rights as Holder thereof
      retroactive to the date of registration of such Transfer of such Residual
      Certificate. None of the Trustee, the Master Servicer, the Special
      Servicer, the REMIC Administrator or the Certificate Registrar shall be
      under any liability to any Person for any registration of Transfer of a
      Residual Certificate that is in fact not permitted by this Section 5.02(d)
      or for making any payments due on such Certificate to the Holder thereof
      or for taking any other action with respect to such Holder under the
      provisions of this Agreement.

            (iii) The REMIC Administrator shall make available to the IRS and
      those Persons specified by the REMIC Provisions all information necessary
      to compute any tax imposed as a result of the Transfer of an Ownership
      Interest in a Residual Certificate to any Person who is a Disqualified
      Organization or a nominee, agent or middleman thereof, including the
      information described in Treasury Regulations Sections 1.860D-1(b)(5) and
      1.860E-2(a)(5) with respect to the "excess inclusions" of such Residual
      Certificate. The Person holding such Ownership Interest shall be
      responsible for the reasonable compensation of the REMIC Administrator for
      providing such information.

      (e) Subject to the restrictions on transfer and exchange set forth in this
Section 5.02, the Holder of any Definitive Certificate may transfer or exchange
the same in whole or in part (with a Denomination equal to any authorized
denomination) by surrendering such Certificate at the Certificate Registrar's
office or at the office of any successor Certificate Registrar or transfer agent
appointed by the Certificate Registrar, together with an instrument of
assignment or transfer (executed by the Holder or its duly authorized attorney),
in the case of transfer, and a written request for exchange in the case of
exchange. Subject to the restrictions on transfer set forth in this Section 5.02
and Depository Rules, any Certificate Owner owning a beneficial interest in a
Non-Registered Certificate may cause the Certificate Registrar to request that
the Depository exchange such Certificate Owner's beneficial interest in a
Book-Entry Certificate for a Definitive Certificate or Certificates. Following a
proper request for transfer or exchange, the Certificate Registrar shall,
execute and deliver at such offices or at the office of such transfer agent, as
the case may be, to the transferee (in the case of transfer) or Holder (in the
case of exchange) or send by first class mail (at the risk of the transferee in
the case of transfer or Holder in the case of exchange) to such address as the
transferee or Holder, as applicable, may request, a Definitive Certificate or
Certificates, as the case may require, for a like aggregate Denomination and in
such Denomination or Denominations as may be requested.

      (f) In the event a Responsible Officer of the Certificate Registrar
becomes aware that a Definitive Certificate or a beneficial interest in a
Book-Entry Certificate representing a Non-Registered Certificate is being held
by or for the benefit of a Person who is not an Institutional Accredited
Investor, or that such holding is unlawful under the laws of a relevant
jurisdiction, then the Certificate Registrar shall have the right to void such
transfer, if permitted under applicable law, or to require the investor to sell
such Definitive Certificate or beneficial interest in such Book-Entry
Certificate to an Institutional Accredited Investor within 14 days after notice
of such determination and each Certificateholder by its acceptance of a
Certificate authorizes the Certificate Registrar to take such action.

      (g) Every Certificate presented or surrendered for transfer or exchange
shall (if so required by the Certificate Registrar) be duly endorsed by, or be
accompanied by a written instrument of transfer in the form satisfactory to the
Certificate Registrar duly executed by, the Holder thereof or his attorney duly
authorized in writing.

      (h) No service charge shall be imposed for any transfer or exchange of
Certificates, but the Trustee or the Certificate Registrar may require payment
of a sum sufficient to cover any tax or other governmental charge that may be
imposed in connection with any transfer or exchange of Certificates. In
addition, in connection with any transfer to an Institutional Accredited
Investor, the transferor shall reimburse the Trust Fund for any costs (including
the cost of the Certificate Registrar's counsel's review of the documents and
any legal opinions, submitted by the transferor or transferee to the Certificate
Registrar as provided herein) incurred by the Certificate Registrar in
connection with such transfer.

      (i) Subsequent to the initial issuance of the Certificates, the Trustee
shall be responsible for the preparation of physical Certificates in connection
with any transfer or exchange; provided that the correct form of Certificate of
each Class shall be provided by the Depositor to the Trustee on diskette on or
about the Closing Date. All Certificates surrendered for transfer and exchange
shall be physically canceled by the Certificate Registrar, and the Certificate
Registrar shall hold or destroy such canceled Certificates in accordance with
its standard procedures.

      (j) The Certificate Registrar shall be required to provide the Depositor
and the REMIC Administrator with an updated copy of the Certificate Register on
or about January 1 of each year, commencing January 1, 2007, and shall be
required to provide the Depositor, the Master Servicer, the Special Servicer or
the REMIC Administrator with an updated copy of the Certificate Register at
other times promptly upon written request therefor.

      (k) If a Person is acquiring any Non-Registered Certificate or interest
therein as a fiduciary or agent for one or more accounts, such Person shall be
required to deliver to the Certificate Registrar (or, in the case of a
Book-Entry Certificate, to the Certificate Owner that is transferring such
interest) a certification to the effect that, and such other evidence as may be
reasonably required by the Trustee (or such Certificate Owner) to confirm that,
it has (i) sole investment discretion with respect to each such account and (ii)
full power to make the acknowledgments, representations, warranties,
certification and agreements with respect to each such account as set forth in
subsections (b), (c) and (d), as applicable, of this Section 5.02.

      (l) Each investor in the Certificates will be deemed, by its investment in
such Certificates, to represent that neither (a) the investor nor (b) any owner
of a five percent or greater interest in the investor is an employer with
employees covered by the General Electric Pension Trust. Any transfer in
violation of this deemed representation will be void ab initio.

      (m) Any Holder of an interest in a Regulation S Global Certificate in
respect of the Certificates shall have the right, upon prior written notice to
the Depositor, the Trustee, Euroclear or Clearstream, as applicable, and the
Depository, in the form of the Exchange Certificate attached hereto as Exhibit
Q, to exchange all or a portion of such interest for an equivalent interest in a
Domestic Global Certificate in connection with a transfer of its interest
therein to a transferee that is eligible to hold an interest in a Domestic
Global Certificate as set forth herein. Any Holder of an interest in a Domestic
Global Certificate shall have the right, upon prior written notice to the
Depositor, the Trustee, the Depository and Euroclear or Clearstream, as
applicable, in the form of the Exchange Certificate attached hereto as Exhibit O
or Exhibit P, as applicable, to exchange all or a portion of such interest for
an equivalent interest in a Regulation S Global Certificate in connection with a
transfer of its interest therein to a transferee that is eligible to hold an
interest in a Regulation S Global Certificate as set forth herein. The Exchange
Certificate shall specify the denomination of the Certificates to be exchanged.
The Exchange Certificate shall also contain a representation that the transfer
is being made in a transaction meeting the requirements of Rule 144A or
Regulation S, as the case may be. Following receipt of any Exchange Certificate
by the Depositor or the Trustee, (i) the Trustee shall endorse the schedule to
any Global Certificate representing the Certificate or Certificates being
exchanged to reduce the stated principal or notional amount of such Global
Certificate by the denominations of the Certificate or Certificates for which
such exchange is to be made, and (ii) the Trustee shall endorse the schedule to
any Global Certificate representing the Certificate or Certificates for which
such exchange is to be made to increase the stated principal or notional amount
of such Global Certificate by the denominations of the Certificate or
Certificates being exchanged therefor. The form of the Exchange Certificate
shall be available from the Trustee.

      Section 5.03 Book-Entry Certificates.

      (a) The Class A-1, Class A-2, Class A-3, Class A-AB, Class A-4, Class
A-1A, Class A-M, Class A-J, Class XW, 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 and
Class P Certificates shall initially be issued as one or more Certificates
registered in the name of the Depository or its nominee and, except as provided
in subsection (c) below, transfer of such Certificates may not be registered by
the Certificate Registrar unless such transfer is to a successor Depository that
agrees to hold such Certificates for the respective Certificate Owners with
Ownership Interests therein. Such Certificate Owners shall hold and transfer
their respective Ownership Interests in and to such Certificates through the
book-entry facilities of the Depository and, except as provided in subsection
(c) below, shall not be entitled to fully registered, physical Certificates
("Definitive Certificates") in respect of such Ownership Interests. All
transfers by Certificate Owners of their respective Ownership Interests in the
Book-Entry Certificates shall be made in accordance with the procedures
established by the Depository Participant or brokerage firm representing each
such Certificate Owner (in addition to the procedures established under this
Agreement and, if applicable, those of Euroclear and Clearstream). Each
Depository Participant shall only transfer the Ownership Interests in the
Book-Entry Certificates of Certificate Owners it represents or of brokerage
firms for which it acts as agent in accordance with the Depository's normal
procedures. Neither the Certificate Registrar nor the Trustee shall have any
responsibility to monitor or restrict the transfer of Ownership Interests in
Certificates through the book-entry facilities of the Depository, Euroclear or
Clearstream.

      (b) The Depositor, the Trustee, the Master Servicer, the Special Servicer,
the REMIC Administrator and the Certificate Registrar may for all purposes,
including the making of payments due on the Book-Entry Certificates, deal with
the Depository as the authorized representative of the Certificate Owners with
respect to such Certificates for the purposes of exercising the rights of
Certificateholders hereunder. The rights of Certificate Owners with respect to
the Book-Entry Certificates shall be limited to those established by law and
agreements between such Certificate Owners and the Depository Participants and
brokerage firms representing such Certificate Owners. Multiple requests and
directions from, and votes of, the Depository as Holder of the Book-Entry
Certificates with respect to any particular matter shall not be deemed
inconsistent if they are made with respect to different Certificate Owners. The
Trustee may establish a reasonable record date in connection with solicitations
of consents from or voting by Certificateholders and shall give notice to the
Depository of such record date. If any party hereto requests from the Depository
a list of the Depository Participants in respect of any Class or Classes of the
Book-Entry Certificates, the cost thereof shall be borne by the party on whose
behalf such request is made (but in no event shall any such cost be borne by the
Trustee).

      (c) If (i)(A) the Depositor advises the Trustee and the Certificate
Registrar in writing that the Depository is no longer willing or able to
properly discharge its responsibilities with respect to any Class of the
Book-Entry Certificates, and (B) the Depositor is unable to locate a qualified
successor, or (ii) the Depositor notifies the Trustee, the Certificate Registrar
and DTC of its intent to terminate the book-entry system through DTC and, upon
receipt of notice of such intent from DTC, the Depository Participants holding
beneficial interests in the Book-Entry Certificates agree to initiate such
termination. Upon surrender to the Certificate Registrar of any Class of the
Book-Entry Certificates by the Depository, accompanied by registration
instructions for registration of transfer, the Trustee shall execute, and the
Certificate Registrar shall authenticate and deliver, the appropriate Definitive
Certificates to the Certificate Owners identified in such instructions. None of
the Depositor, the Master Servicer, the Special Servicer, the Trustee, the REMIC
Administrator or the Certificate Registrar shall be liable for any delay in
delivery of such instructions and may conclusively rely on, and shall be
protected in relying on, such instructions.

      (d) The Book-Entry Certificates (i) shall be delivered by the Certificate
Registrar to the Depository, or pursuant to the Depository's instructions, and
shall be registered in the name of Cede & Co. and (ii) shall bear a legend
substantially to the following effect:

      UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED
      REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK
      CORPORATION ("DTC"), TO THE CERTIFICATE REGISTRAR FOR
      REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY
      CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN
      SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE
      OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER
      ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC),
      ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE
      BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER
      HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.

      The Book-Entry Certificates may be deposited with such other Depository as
the Certificate Registrar may from time to time designate, and shall bear such
legend as may be appropriate.

      (e) Upon acceptance for exchange or transfer of a beneficial interest in a
Book-Entry Certificate for a Definitive Certificate, as provided herein, the
Certificate Registrar shall endorse on a schedule affixed to the related
Book-Entry Certificate (or on a continuation of such schedule affixed to such
Book-Entry Certificate and made a part thereof) an appropriate notation
evidencing the date of such exchange or transfer and a decrease in the
Denomination of such Book-Entry Certificate equal to the Denomination of such
Definitive Certificate issued in exchange therefor or upon transfer thereof.

      (f) If a Holder of a Definitive Certificate wishes at any time to transfer
such Certificate to a Person who wishes to take delivery thereof in the form of
a beneficial interest in the Book-Entry Certificate, such transfer may be
effected only in accordance with Depository Rules and this Section 5.03(f). Upon
receipt by the Certificate Registrar at the Certificate Registrar's office of
(i) the Definitive Certificate to be transferred with an assignment and transfer
pursuant to this Section 5.03(f), (ii) written instructions given in accordance
with Depository Rules directing the Certificate Registrar to credit or cause to
be credited to another account a beneficial interest in the related Book-Entry
Certificate, in an amount equal to the Denomination of the Definitive
Certificate to be so transferred, (iii) a written order given in accordance with
the Depository Rules containing information regarding the account to be credited
with such beneficial interest, (iv) if the affected Certificate is a
Non-Registered Certificate an Investment Representation Letter from the
transferee to the effect that such transferee is a Qualified Institutional
Buyer, and (v) if delivery is to be taken in the form of a beneficial interest
in the Regulation S Global Certificate, a Regulation S Certificate, the
Certificate Registrar shall cancel such Definitive Certificate, execute and
deliver a new Definitive Certificate for the Denomination of the Definitive
Certificate not so transferred, registered in the name of the Holder or the
Holder's transferee (as instructed by the Holder), and the Certificate Registrar
shall instruct the Depository or the custodian holding such Book-Entry
Certificate on behalf of the Depository to increase the Denomination of the
related Book-Entry Certificate by the Denomination of the Definitive Certificate
to be so transferred, and to credit or cause to be credited to the account of
the Person specified in such instructions a corresponding Denomination of such
Book-Entry Certificate.

      Each Regulation S Certificate shall include a certification to the effect
that: (i) (1) the offer of the Certificates was not made to a person in the
United States; and (2) no directed selling efforts have been made in
contravention of the requirements of Rule 903(b) or 904(b) of Regulation S, as
applicable, and the transaction is not part of a plan or scheme to evade the
registration requirements of the Securities Act; or (ii) with respect to
transfers made in reliance on Rule 144 under the Securities Act, that the
Certificates being transferred are not "restricted securities" as defined in
Rule 144 under the Securities Act.

      (g) The Certificates initially sold in offshore transactions in reliance
on Regulation S shall be represented by a single Regulation S Global Certificate
for each such Class in fully registered form without interest coupons, which
will be deposited with the Trustee and registered in the name of Cede & Co. as
nominee of DTC. Beneficial interests in each Regulation S Global Certificate may
be held only through Euroclear or Clearstream.

      No interest in the Regulation S Global Certificates may be held by or
transferred to a U.S. Person (as defined in Regulation S) except for exchanges
for a beneficial interest in a Domestic Global Certificate or a Definitive
Certificate as described in Section 5.02(m). Any beneficial interest in a
Regulation S Global Certificate that is transferred to a U.S. Person that is an
Institutional Accredited Investor (that is not a Qualified Institutional Buyer)
is required to be delivered in the form of a Definitive Certificate and shall
cease to be an interest in such Regulation S Global Certificate and, thereafter,
will be subject to all transfer restrictions and other procedures applicable to
Certificates in definitive form described in Section 5.03. Notwithstanding the
foregoing, no transfer of a beneficial interest in a Regulation S Global
Certificate to a Definitive Certificate pursuant to this Section 5.03 shall be
made prior to the Release Date. Certificates evidenced by Regulation S Global
Certificates shall be subject to certain restrictions on transfer as set forth
in Section 5.02 and shall bear a legend regarding such restrictions described
herein.

      Section 5.04 Mutilated, Destroyed, Lost or Stolen Certificates.

      If (i) any mutilated Certificate is surrendered to the Certificate
Registrar, or the Certificate Registrar receives evidence to its satisfaction of
the destruction, loss or theft of any Certificate, and (ii) there is delivered
to the Trustee and the Certificate Registrar such security or indemnity as may
reasonably be required by them to save each of them harmless, then, in the
absence of actual notice to the Trustee or the Certificate Registrar that such
Certificate has been acquired by a bona fide purchaser, the Trustee shall
execute and the Certificate Registrar shall authenticate and deliver, in
exchange for or in lieu of any such mutilated, destroyed, lost or stolen
Certificate, a new Certificate of the same Class and like Percentage Interest.
Upon the issuance of any new Certificate under this Section 5.04, the Trustee
and the Certificate Registrar may require the payment of a sum sufficient to
cover any tax or other governmental charge that may be imposed in relation
thereto and any other expenses (including the fees and expenses of the Trustee
and the Certificate Registrar) connected therewith. Any replacement Certificate
issued pursuant to this Section 5.04 shall constitute complete and indefeasible
evidence of ownership in the applicable REMIC created hereunder, as if
originally issued, whether or not the lost, stolen or destroyed Certificate
shall be found at any time.

      Section 5.05 Persons Deemed Owners.

      Prior to due presentment for registration of transfer, the Depositor, the
Master Servicer, the Special Servicer, the Trustee, the REMIC Administrator, the
Certificate Registrar and any agents of any of them may treat the person in
whose name any Certificate is registered as the owner of such Certificate for
the purpose of receiving distributions pursuant to Section 4.01 and for all
other purposes whatsoever, and none of the Depositor, the Master Servicer, the
Special Servicer, the Trustee, the REMIC Administrator, the Certificate
Registrar or any agent of any of them shall be affected by notice to the
contrary.

      Section 5.06 Certification by Certificate Owners.

      (a) Each Certificate Owner is hereby deemed by virtue of its acquisition
of an Ownership Interest in the Book-Entry Certificates to agree to comply with
the applicable transfer requirements of Sections 5.02(b) and 5.02(c).

      (b) To the extent that under the terms of this Agreement, it is necessary
to determine whether any Person is a Certificate Owner, the Trustee shall make
such determination based on a certificate of such Person that shall specify, in
reasonable detail satisfactory to the Trustee, the Class and Certificate
Principal Balance or Certificate Notional Amount, as the case may be, of the
Book-Entry Certificate beneficially owned, the value of such Person's interest
in such Certificate and any intermediaries through which such Person's Ownership
Interest in such Book-Entry Certificate is held; provided, however, that the
Trustee shall not knowingly recognize such Person as a Certificate Owner if such
Person, to the knowledge of a Responsible Officer of the Trustee, acquired its
Ownership Interest in a Book-Entry Certificate in violation of Section 5.02(b)
and/or Section 5.02(c), or if such Person's certification that it is a
Certificate Owner is in direct conflict with information obtained by the Trustee
from the Depository, Depository Participants, and/or indirect participating
brokerage firms for which a Depository Participant acts as agent, with respect
to the identity of a Certificate Owner. The Trustee shall exercise its
reasonable discretion in making any determination under this Section 5.06(b) and
shall afford any Person providing information with respect to its beneficial
ownership of any Certificates an opportunity to resolve any discrepancies
between the information provided and any other information available to the
Trustee.

      Section 5.07 Regarding the Identification of Certain Certificateholders.

      (a) For purposes of determining the identity of the Holders of the
Non-Registered Certificates (except a Class V, Class R-I or Class R-II
Certificate) to whom certain reports and other information are required to be
delivered hereunder, the Trustee and the Master Servicer may rely, with respect
to any such Certificates outstanding in book-entry form, on a certification,
given to the Trustee and provided to the Master Servicer, by any Person that
such person is such a holder entitled to receive such reports or information
hereunder. With respect to the Registered Certificates and the Class V, Class
R-I and Class R-II Certificates, from time to time upon the request of the
Master Servicer, the Trustee shall provide the Master Servicer with a list of
the Certificateholders recorded in the Certificate Register.

<PAGE>

                                   ARTICLE VI

        THE DEPOSITOR, THE MASTER SERVICER, THE SPECIAL SERVICER AND THE
                              REMIC ADMINISTRATOR

      Section 6.01 Liability of the Depositor, the Master Servicer, the Special
Servicer and the REMIC Administrator.

      The Depositor, the Master Servicer, the Special Servicer and the REMIC
Administrator shall be liable in accordance herewith only to the extent of the
respective obligations specifically imposed upon and undertaken by the
Depositor, the Master Servicer, the Special Servicer and the REMIC Administrator
herein.

      Section 6.02 Merger, Consolidation or Conversion of the Depositor, the
Master Servicer, the Special Servicer or the REMIC Administrator.

      (a) Subject to the following paragraph, the Depositor, the Master
Servicer, the Special Servicer and the REMIC Administrator each will keep in
full effect its existence, rights and franchises as a corporation or other
business organization under the laws of the jurisdiction of its organization,
and each will obtain and preserve its qualification to do business as a foreign
corporation or otherwise in each jurisdiction in which such qualification is or
shall be necessary to protect the validity and enforceability of this Agreement,
the Certificates or any of the Mortgage Loans and to perform its respective
duties under this Agreement.

      (b) The Depositor, the Master Servicer, the Special Servicer and the REMIC
Administrator each may be merged or consolidated with or into any Person, or
transfer all or substantially all of its assets (which, as to the Master
Servicer and the Special Servicer, may be limited to all or substantially all of
its assets relating to the business of mortgage loan servicing) to any Person,
in which case any Person resulting from any merger or consolidation to which the
Depositor, the Master Servicer, the Special Servicer or the REMIC Administrator
shall be a party, or any Person succeeding to the business of the Depositor, the
Master Servicer, the Special Servicer or the REMIC Administrator, shall be the
successor of the Depositor, the Master Servicer, the Special Servicer or the
REMIC Administrator, as the case may be, hereunder, without the execution or
filing of any paper or any further act on the part of any of the parties hereto,
anything herein to the contrary notwithstanding; provided, however, that no
successor or surviving Person shall succeed to the rights of the Master Servicer
or the Special Servicer, unless such succession will not result in any
downgrade, qualification (if applicable) or withdrawal of the rating then
assigned by any Rating Agency to any Class of Certificates (as confirmed in
writing).

      In accordance with Section 11.02, The Master Servicer and the Special
Servicer and such successor or surviving Person shall notify the Depositor and
the Trustee of any such merger, conversion or consolidation at least two
Business Days prior to the effective date thereof and shall provide the
Depositor and the Trustee with all information reasonably requested by the
Depositor to comply with its reporting obligation under Item 6.02 of Form 8-K
not later than the effective date of such merger, conversion or consolidation.

      Section 6.03 Limitation on Liability of the Depositor, the Master
Servicer, the Special Servicer, the REMIC Administrator and Others.

      (a) None of the Depositor, the Master Servicer, the Special Servicer, the
REMIC Administrator or any director, officer, employee or agent of any of the
foregoing shall be under any liability to the Trust, the Certificateholders or
any Companion Loan Holder(s) for any action taken, or not taken, in good faith
pursuant to this Agreement, or for errors in judgment; provided, however, that
this provision shall not protect the Depositor, the Master Servicer, the Special
Servicer, the REMIC Administrator or any such other Person against any breach of
a representation or warranty made herein, or against any expense or liability
specifically required to be borne thereby pursuant to the terms hereof, or
against any liability that would otherwise be imposed by reason of willful
misfeasance, bad faith or negligence in the performance of obligations or duties
hereunder, or by reason of negligent or reckless disregard of such obligations
and duties. The Depositor, the Master Servicer, the Special Servicer, the REMIC
Administrator and any director, manager, member, officer, employee or agent
(including Sub-Servicers) of any of the foregoing may rely in good faith on any
document of any kind that, prima facie, is properly executed and submitted by
any Person respecting any matters arising hereunder. The Depositor, the Master
Servicer, the Special Servicer, the REMIC Administrator and any director,
manager, member, officer, employee or agent (including Sub-Servicers) of any of
the foregoing shall be indemnified and held harmless by the Trust against any
loss, liability or expense, including reasonable attorneys' fees, expenses of
counsel and expenses of litigation, incurred in connection with any claims or
legal action relating to this Agreement, the Certificates or any asset of the
Trust, other than any loss, liability or expense: (i) specifically required to
be borne by such Person pursuant to the terms hereof, including, without
limitation, Section 10.01(h); or (ii) that was incurred in connection with
claims against such party resulting from (A) any breach of a representation or
warranty made herein by such party, (B) willful misfeasance, bad faith,
recklessness or negligence in the performance of obligations or duties hereunder
by such party, or from negligent or reckless disregard of such obligations or
duties, or (C) any violation by such party of any state or federal securities
law. None of the Depositor, the Master Servicer, the Special Servicer or the
REMIC Administrator shall be under any obligation to appear in, prosecute or
defend any legal action unless such action is related to its respective duties
under this Agreement and, except in the case of a legal action contemplated by
Section 3.22, in its opinion does not involve it in any ultimate expense or
liability; provided, however, that the Depositor, the Master Servicer, the
Special Servicer or the REMIC Administrator may in its discretion undertake any
such action that it may deem necessary or desirable with respect to the
enforcement and/or protection of the rights and duties of the parties hereto and
the interests of the Certificateholders. In such event, the legal expenses and
costs of such action, and any liability resulting therefrom, shall be expenses,
costs and liabilities of the Trust, and the Depositor, the Master Servicer, the
Special Servicer and the REMIC Administrator each shall be entitled to the
direct payment of such expenses or to be reimbursed therefor from the
Certificate Account as provided in Section 3.05(a).

      (b) The Desert Passage Master Servicer, the Desert Passage Special
Servicer, the Desert Passage Depositor and the Desert Passage Trustee, and any
of their respective directors, officers, employees or agents (collectively, the
"Desert Passage Indemnified Parties"), shall be indemnified by the Trust and
held harmless against the Trust's pro rata share (subject to the Desert Passage
Intercreditor Agreement) of any and all claims, losses, damages, penalties,
fines, forfeitures, reasonable legal fees and related costs, judgments, and any
other costs, liabilities, fees and expenses incurred in connection with any
legal action relating to the Desert Passage Whole Loan under the Desert Passage
Pooling Agreement or this Agreement (but excluding any such losses allocable to
the Desert Passage Pari Passu Note A-1), reasonably requiring the use of counsel
or the incurring of expenses other than any losses incurred by reason of any
Desert Passage Indemnified Party's willful misfeasance, bad faith or negligence
in the performance of duties or by reason of negligent disregard of obligations
and duties under the Desert Passage Pooling Agreement. The indemnification
provided herein shall survive the termination of this Agreement and the
termination or resignation of the Desert Passage Master Servicer, the Desert
Passage Trustee and the Desert Passage Special Servicer.

      (c) The 277 Park Avenue Master Servicer, the 277 Park Avenue Special
Servicer, the 277 Park Avenue Depositor and the 277 Park Avenue Trustee, and any
of their respective directors, officers, employees or agents (collectively, the
"277 Park Avenue Indemnified Parties"), shall be indemnified by the Trust and
held harmless against the Trust's pro rata share (subject to the 277 Park Avenue
Intercreditor Agreements) of any and all claims, losses, damages, penalties,
fines, forfeitures, reasonable legal fees and related costs, judgments, and any
other costs, liabilities, fees and expenses incurred in connection with any
legal action relating to the 277 Park Avenue Whole Loan under the 277 Park
Avenue Pooling Agreement or this Agreement (but excluding any such losses
allocable to the 277 Park Avenue Pari Passu Note A-1), reasonably requiring the
use of counsel or the incurring of expenses other than any losses incurred by
reason of any 277 Park Avenue Indemnified Party's willful misfeasance, bad faith
or negligence in the performance of duties or by reason of negligent disregard
of obligations and duties under the 277 Park Avenue Pooling Agreement. The
indemnification provided herein shall survive the termination of this Agreement
and the termination or resignation of the 277 Park Avenue Master Servicer, the
277 Park Avenue Trustee and the 277 Park Avenue Special Servicer.

      Section 6.04 Master Servicer, Special Servicer and REMIC Administrator Not
to Resign.

      None of the Master Servicer, the Special Servicer or the REMIC
Administrator shall be permitted to resign from the obligations and duties
hereby imposed on it, except (i) upon the appointment of, and the acceptance of
such appointment by, a successor thereto that is reasonably acceptable to the
Trustee and the Directing Certificateholder and the receipt by the Trustee of
written confirmation from each and every Rating Agency to the effect that such
resignation and appointment will not result in the downgrade, qualification (if
applicable) or withdrawal of any rating then assigned by such Rating Agency to
any Class of Certificates or (ii) upon determination that such obligations and
duties hereunder are no longer permissible under applicable law or are in
material conflict by reason of applicable law with any other activities carried
on by it, the other activities of the Master Servicer, Special Servicer or REMIC
Administrator, as the case may be, so causing such a conflict being of a type
and nature carried on by the Master Servicer, Special Servicer or REMIC
Administrator, as the case may be, at the date of this Agreement. Any such
determination of the nature described in clause (ii) of the preceding sentence
permitting the resignation of the Master Servicer, the Special Servicer or the
REMIC Administrator, as the case may be, shall be evidenced by an Opinion of
Counsel to such effect, which shall be rendered by Independent counsel, be
addressed and delivered to the Trustee and the Rating Agencies and be paid for
by the resigning party. No such resignation for either reason shall become
effective until the Trustee or other successor shall have assumed the
responsibilities and obligations of the resigning party hereunder. All costs and
expenses of the Trustee and the Trust (including, without limitation, any costs
or expenses of any party hereto reimbursable out of the Trust Fund) in
connection with any such resignation (including, without limitation, any
requisite transfer of servicing) shall be paid for, as incurred, by the
resigning party.

      Consistent with the foregoing, none of the Master Servicer, the Special
Servicer or the REMIC Administrator shall be permitted, except as expressly
provided herein, to assign or transfer any of its rights, benefits or privileges
hereunder to any other Person, or delegate to or subcontract with, or authorize
or appoint any other Person to perform any of the duties, covenants or
obligations to be performed by it hereunder. If, pursuant to any provision
hereof, the duties of the Master Servicer, the Special Servicer or the REMIC
Administrator are transferred to a successor thereto, then, subject to Section
3.11(a) and Section 3.22, the entire amount of compensation payable to the
Master Servicer, the Special Servicer or the REMIC Administrator, as the case
may be, pursuant hereto shall thereafter be payable to such successor.

      Section 6.05 Rights of the Depositor and the Trustee in Respect of the
Master Servicer, the Special Servicer and the REMIC Administrator.

      The Master Servicer, the Special Servicer and the REMIC Administrator each
shall afford the Depositor and the Trustee, upon reasonable notice, during
normal business hours access to all records maintained by the Master Servicer,
the Special Servicer or the REMIC Administrator, as the case may be, in respect
of its rights and obligations hereunder and access to such of its officers as
are responsible for such obligations. Upon reasonable request, the Master
Servicer, the Special Servicer and the REMIC Administrator each shall furnish
the Depositor and the Trustee with its most recent financial statements, or in
the case of the Special Servicer, publicly available financial statements of its
corporate parent, and such other publicly available information directly related
to the servicing of the Loans or to its ability to perform its obligations
hereunder as it possesses, and that it is not prohibited by law or, to the
extent applicable, binding obligations to third parties with respect to
confidentiality from disclosing, regarding its business, affairs, property and
condition, financial or otherwise; provided that neither the Depositor nor the
Trustee may disclose the contents of any information that is not available
publicly to non-affiliated third parties (other than their duly authorized
representatives, which include without limitation attorneys and/or accountants)
unless the Depositor or the Trustee, as applicable, is required to do so under
applicable securities law or is compelled to do so as a matter of law. The
Depositor may, but is not obligated to, enforce the obligations of the Master
Servicer, the Special Servicer and the REMIC Administrator hereunder and may,
but is not obligated to, perform, or cause a designee to perform, any defaulted
obligation of the Master Servicer, the Special Servicer or the REMIC
Administrator hereunder or, in connection with a default thereby, exercise the
rights of the Master Servicer, the Special Servicer or the REMIC Administrator
hereunder; provided, however, that none of the Master Servicer, the Special
Servicer or the REMIC Administrator shall be relieved of any of its obligations
hereunder by virtue of such performance by the Depositor or its designee. The
Depositor shall not have any responsibility or liability for any action or
failure to act by the Master Servicer, the Special Servicer or the REMIC
Administrator and is not obligated to supervise the performance of the Master
Servicer, the Special Servicer or the REMIC Administrator under this Agreement
or otherwise.

<PAGE>

                                  ARTICLE VII

                                     DEFAULT

      Section 7.01 Events of Default.

      (a) "Event of Default", wherever used herein, unless the context otherwise
requires, means any one of the following events:

            (i) any failure by the Master Servicer (A) to deposit into the
      Certificate Account any amount required to be so deposited under this
      Agreement that continues unremedied for three Business Days following the
      date on which such deposit was first required to be made, but in no event
      later than the Master Servicer Remittance Date before the related
      Distribution Date, or (B) to deposit into, or to remit to the Trustee for
      deposit into, the Distribution Account on any Master Servicer Remittance
      Date, the full amount of any Master Servicer Remittance Amount and
      Withheld Amounts, respectively, required to be so deposited or remitted
      under this Agreement on such date; or

            (ii) any failure by the Special Servicer to deposit into, or to
      remit to the Master Servicer for deposit into, the Certificate Account or
      the applicable REO Account any amount required to be so deposited or
      remitted under this Agreement that continues unremedied for two Business
      Days following the date on which such deposit or remittance was first
      required to be made, but in no event later than two Business Days before
      the related Distribution Date; or

            (iii) any failure by the Master Servicer to remit to the Trustee for
      deposit into the Distribution Account, on any Master Servicer Remittance
      Date, the full amount of P&I Advances required to be made on such date
      unless wired by 10:00 a.m. on the Distribution Date; provided, however,
      that if the Master Servicer fails to make any deposit contemplated by this
      Section 7.01(a)(iii), then the Master Servicer shall pay to the Trustee,
      for the account of the Trustee, interest on such late remittance at the
      Reimbursement Rate from and including such Master Servicer Remittance Date
      to but excluding the related Distribution Date; or

            (iv) any failure by the Master Servicer to timely make any Servicing
      Advance required to be made by it pursuant to this Agreement, which
      failure continues unremedied for a period of three Business Days following
      the date on which notice shall have been given to the Master Servicer by
      the Trustee or by any other party to this Agreement, as provided in
      Section 3.11(f); or

            (v) any failure by the Special Servicer to timely direct the Master
      Servicer to make any Servicing Advance (including any Emergency Advance)
      required to be made by the Master Servicer at its direction pursuant to
      this Agreement, which failure is not remedied by providing direction to
      the Master Servicer within three Business Days following the date on which
      notice has been given to the Special Servicer by the Trustee as provided
      in Section 3.11(f); or

            (vi) any failure on the part of the Master Servicer or the Special
      Servicer duly to observe or perform in any material respect any other of
      the covenants or agreements thereof contained in this Agreement, which
      failure continues unremedied for a period of 30 days after the date on
      which written notice of such failure, requiring the same to be remedied,
      shall have been given to the Master Servicer or the Special Servicer, as
      the case may be, by any other party hereto, or to the Master Servicer or
      the Special Servicer, as the case may be, with a copy to each other party
      hereto, by the Holders of Certificates entitled to at least 25% of the
      Voting Rights; provided, however, that if such covenant or agreement is
      capable of being cured and the Master Servicer or Special Servicer, as
      applicable, is diligently pursuing such cure, such 30-day period shall be
      extended for an additional 60 days; or

            (vii) any failure on the part of the REMIC Administrator duly to
      observe or perform in any material respect any of the covenants or
      agreements thereof contained in this Agreement, which failure continues
      unremedied for a period of 30 days after the date on which written notice
      of such failure, requiring the same to be remedied, shall have been given
      to the REMIC Administrator by any other party hereto, or to the REMIC
      Administrator, with a copy to each other party hereto, by the Holders of
      Certificates entitled to at least 25% of the Voting Rights; provided,
      however, that if such covenant or agreement is capable of being cured and
      the REMIC Administrator is diligently pursuing such cure, such 30-day
      period shall be extended for an additional 60 days; or

            (viii) any breach on the part of the Master Servicer, the Special
      Servicer or the REMIC Administrator of any representation or warranty
      thereof contained in this Agreement that materially and adversely affects
      the interests of any Class of Certificateholders and that continues
      unremedied for a period of 30 days after the date on which notice of such
      breach, requiring the same to be remedied, shall have been given to the
      Master Servicer, the Special Servicer or the REMIC Administrator, as the
      case may be, by any other party hereto, or to the Master Servicer, the
      Special Servicer or the REMIC Administrator, as the case may be, with a
      copy to each other party hereto, by the Holders of Certificates entitled
      to at least 25% of the Voting Rights; provided, however, that if such
      representation or warranty is capable of being cured and the Master
      Servicer or Special Servicer, as applicable, is diligently pursuing such
      cure, such 30-day period shall be extended for an additional 60 days; or

            (ix) a decree or order of a court or agency or supervisory authority
      having jurisdiction in the premises in an involuntary case under any
      present or future federal or state bankruptcy, insolvency or similar law
      for the appointment of a conservator, receiver, liquidator, trustee or
      similar official in any bankruptcy, insolvency, readjustment of debt,
      marshalling of assets and liabilities or similar proceedings, or for the
      winding up or liquidation of its affairs, shall have been entered against
      the Master Servicer, the Special Servicer or the REMIC Administrator and
      such decree or order shall have remained in force undischarged or unstayed
      for a period of 60 days; or

            (x) the Master Servicer, the Special Servicer or the REMIC
      Administrator shall consent to the appointment of a conservator, receiver,
      liquidator, trustee or similar official in any bankruptcy, insolvency,
      readjustment of debt, marshalling of assets and liabilities or similar
      proceedings of or relating to it or of or relating to all or substantially
      all of its property; or

            (xi) the Master Servicer, the Special Servicer or the REMIC
      Administrator shall admit in writing its inability to pay its debts
      generally as they become due, file a petition to take advantage of any
      applicable bankruptcy, insolvency or reorganization statute, make an
      assignment for the benefit of its creditors, voluntarily suspend payment
      of its obligations, or take any corporate action in furtherance of the
      foregoing; or

            (xii) the Trustee shall receive written notice (which notice the
      Trustee shall promptly forward to the Master Servicer or the Special
      Servicer, as applicable) from a Rating Agency that the continuation of the
      Master Servicer or the Special Servicer in such capacity would result in a
      downgrade, qualification, or withdrawal of any rating assigned to any
      Class of Certificates, subject in any case to a 60-day cure period;

            (xiii) either the Master Servicer or the Special Servicer is no
      longer listed on S&P's Select Servicer List as a U.S. Commercial Mortgage
      Master Servicer or a U.S. Commercial Mortgage Special Servicer, as
      applicable, and is not relisted thereon within 60 days; or

            (xiv) the Master Servicer shall no longer be rated "CMS3" or higher
      by Fitch or the Special Servicer shall no longer be rated "CSS3" or higher
      by Fitch, and, in each case, that rating is not restored within 60 days
      after the subject downgrade or withdrawal.

Each Event of Default listed above as items (iv) through (xiii) shall constitute
an Event of Default only with respect to the relevant party; provided that if a
single entity acts or any two or more Affiliates act as Master Servicer, Special
Servicer and REMIC Administrator, or in any two or more of the foregoing
capacities, an Event of Default in one capacity (other than an event described
in clause (xii), (xiii) or (xiv)) will constitute an Event of Default in each
such capacity.

      (b) If any Event of Default with respect to the Master Servicer or the
Special Servicer (in either case, for purposes of this Section 7.01(b), the
"Defaulting Party") shall occur and be continuing, then, and in each and every
such case, so long as the Event of Default shall not have been remedied, the
Depositor or the Trustee may, and (other than with respect to the Events of
Default listed in clauses (xii), (xiii) and (xiv) above) at the written
direction of the Holders of Certificates entitled to at least 51% of the Voting
Rights, or if the relevant Event of Default is the one described in clause (xi)
of subsection (a) above, the Trustee shall, terminate, by notice in writing to
the Defaulting Party (with a copy of such notice to each other party hereto),
all of the rights and obligations (subject to Section 3.11 and Section 6.03,
accruing from and after such notice) of the Defaulting Party under this
Agreement and in and to the Loans and the proceeds thereof (other than as a
Holder of a Certificate or a Companion Loan). With respect to each of the Event
of Defaults listed above as clauses (xii), (xiii) and (xiv), the Trustee shall
provide written notice of such Event of Default to each Certificateholder and
request written direction of such Certificateholders whether they desire to
terminate the Defaulting Party; if no such direction is received from the
Directing Certificateholder or Holders of Certificates entitled to vote at least
51% of the Voting Rights within ten Business Days after delivery of such notice
by the Trustee, and the Trustee has not elected pursuant to the preceding
sentence to terminate the Defaulting Party, the Defaulting Party will not be
terminated by reason of such Event of Default. From and after the receipt by the
Defaulting Party of such written notice, all authority and power of the
Defaulting Party under this Agreement, whether with respect to the Certificates
(other than as a Holder of any Certificate) or the Loans or otherwise, shall
pass to and be vested in the Trustee pursuant to and under this Section, and,
without limitation, the Trustee is hereby authorized and empowered to execute
and deliver, on behalf of and at the expense of the Defaulting Party, as
attorney-in-fact or otherwise, any and all documents and other instruments, and
to do or accomplish all other acts or things necessary or appropriate to effect
the purposes of such notice of termination, whether to complete the transfer and
endorsement or assignment of the Loans and related documents, or otherwise. The
Master Servicer and the Special Servicer each agree that, if it is terminated
pursuant to this Section 7.01(b), it shall promptly (and in any event no later
than ten Business Days subsequent to its receipt of the notice of termination)
provide the Trustee with all documents and records reasonably requested thereby
to enable the Trustee to assume the Master Servicer's or Special Servicer's, as
the case may be, functions hereunder, and shall cooperate with the Trustee in
effecting the termination of the Master Servicer's or Special Servicer's, as the
case may be, responsibilities and rights hereunder, including, without
limitation, the transfer within two Business Days to the Trustee for
administration by it of all cash amounts that shall at the time be or should
have been credited by the Master Servicer to the Certificate Account, the
Distribution Account, any Servicing Account or any Reserve Account (if it is the
Defaulting Party) or by the Special Servicer to the REO Account, the Certificate
Account, any Servicing Account or any Reserve Account (if it is the Defaulting
Party) or thereafter be received with respect to the Loans and any REO
Properties (provided, however, that the Master Servicer and the Special Servicer
each shall, if terminated pursuant to this Section 7.01(b) or Section 3.23,
continue to be obligated for or entitled to receive all amounts accrued or owing
by or to it under this Agreement on or prior to the date of such termination,
whether in respect of Advances or otherwise, and it and its directors, officers,
employees and agents shall continue to be entitled to the benefits of Section
6.03 notwithstanding any such termination). All costs and expenses of the
Trustee and the Trust (including, without limitation, any costs and expenses of
any party hereto reimbursable out of the Trust Fund) in connection with the
termination of the Master Servicer or Special Servicer, as applicable, under
this Section 7.01(b) (including, without limitation, the requisite transfer of
servicing) shall be paid for, as incurred, by the Defaulting Party.

      (c) If any Event of Default with respect to the REMIC Administrator shall
occur and be continuing, then, and in each and every such case, so long as the
Event of Default shall not have been remedied, the Depositor or the Trustee may,
and at the written direction of the Holders of Certificates entitled to at least
51% of the Voting Rights, the Trustee (or, if the Trustee is also the REMIC
Administrator, the Master Servicer) shall, terminate, by notice in writing to
the REMIC Administrator (with a copy to each of the other parties hereto), all
of the rights and obligations of the REMIC Administrator under this Agreement.
From and after the receipt by the REMIC Administrator of such written notice (or
if the Trustee is also the REMIC Administrator, from and after such time as
another successor appointed as contemplated by Section 7.02 accepts such
appointment), all authority and power of the REMIC Administrator under this
Agreement shall pass to and be vested in the Trustee (or such other successor)
pursuant to and under this Section 7.01, and, without limitation, the Trustee
(or such other successor) is hereby authorized and empowered to execute and
deliver, on behalf of and at the expense of the REMIC Administrator, as
attorney-in-fact or otherwise, any and all documents and other instruments, and
to do or accomplish all other acts or things necessary or appropriate to effect
the purposes of such notice of termination. The REMIC Administrator agrees
promptly (and in any event no later than ten Business Days subsequent to its
receipt of the notice of the termination) to provide the Trustee (or, if the
Trustee is also the REMIC Administrator, such other successor appointed as
contemplated by Section 7.02) with all documents and records requested thereby
to enable the Trustee (or such other successor) to assume the REMIC
Administrator's functions hereunder, and to cooperate with the Trustee (or such
other successor) in effecting the termination of the REMIC Administrator's
responsibilities and rights hereunder (provided, however, that the REMIC
Administrator shall continue to be obligated for or entitled to receive all
amounts accrued or owing by or to it under this Agreement on or prior to the
date of such termination, and it and its directors, officers, employees and
agents shall continue to be entitled to the benefits of Section 6.03
notwithstanding any such termination).

      (d) Notwithstanding Section 7.01(b), if the Master Servicer receives a
notice of termination under Section 7.01(b) solely due to an Event of Default
under Section 7.01(a)(xii) (xiii) or (xiv) and if the Master Servicer provides
the Trustee with the appropriate "request for proposal" materials within the
five Business Days after such termination, then such Master Servicer shall
continue to serve as Master Servicer, if requested to do so by the Trustee, and
the Trustee shall promptly thereafter (using such "request for proposal"
materials provided by the terminated Master Servicer) solicit good faith bids
for the rights to master service the Loans under this Agreement from at least
three Persons qualified to act as Master Servicer hereunder in accordance with
Section 6.02 and Section 7.02 for which the Trustee has received written
confirmation that the appointment of such person would not result in the
downgrade, withdrawal or qualification of a current rating on any of the
Certificates and that are reasonably acceptable to the Directing
Certificateholder (any such Person so qualified, a "Qualified Bidder") or, if
three Qualified Bidders cannot be located, then from as many Persons as the
Trustee can determine are Qualified Bidders; provided that, at the Trustee's
request, the terminated Master Servicer shall supply the Trustee with the names
of Persons from whom to solicit such bids; and provided, further, that the
Trustee shall not be responsible if less than three or no Qualified Bidders
submit bids for the right to master service the Loans under this Agreement. Any
"Qualified Bidder" referenced hereunder shall be reasonably acceptable to the
Directing Certificateholder. The bid proposal shall require any Successful
Bidder (as defined below), as a condition of such bid, to enter into this
Agreement as successor Master Servicer, and to agree to be bound by the terms
hereof, within 45 days after the termination of Master Servicer. The Master
Servicer shall continue to serve in such capacity hereunder until a successor
thereto is selected in accordance with this Section 7.01(d) or the expiration of
45 days after the Master Servicer's receipt of notice of termination, whichever
occurs first. The Trustee shall solicit bids (i) on the basis of such successor
Master Servicer retaining all Sub-Servicers to continue the primary servicing of
the Loans pursuant to the terms of the respective Sub-Servicing Agreements and
to enter into a Sub-Servicing Agreement with the terminated Master Servicer to
service each of the Loans not subject to a Sub-Servicing Agreement at a
servicing fee rate per annum equal to the Master Servicing Fee Rate minus 2.5
basis points per Loan serviced (each, a "Servicing-Retained Bid") and (ii) on
the basis of terminating each Sub-Servicing Agreement and Sub-Servicer that it
is permitted to terminate in accordance with Section 3.22 (each, a
"Servicing-Released Bid"). The Trustee shall select the Qualified Bidder with
the highest cash Servicing-Retained Bid (or, if none, the highest cash Servicing
Released Bid) (the "Successful Bidder") to act as successor Master Servicer
hereunder. The Trustee shall direct the Successful Bidder to enter into this
Agreement as successor Master Servicer pursuant to the terms hereof (and, if the
successful bid was a Servicing-Retained Bid, to enter into a Sub-Servicing
Agreement with the terminated Master Servicer as contemplated above), no later
than 45 days after the termination of the Master Servicer.

      (e) Upon the assignment and acceptance of the master servicing rights
hereunder to and by the Successful Bidder, the Trustee shall remit or cause to
be remitted (i) if the successful bid was a Servicing-Retained Bid, to the
terminated Master Servicer the amount of such cash bid received from the
Successful Bidder (net of "out-of-pocket" expenses incurred in connection with
obtaining such bid and transferring servicing) and (ii) if the successful bid
was a Servicing-Released Bid, to the Master Servicer and each terminated
Sub-Servicer its respective Bid Allocation.

      (f) If the Successful Bidder has not entered into this Agreement as
successor Master Servicer within 45 days after the Trustee was appointed as
successor Master Servicer or no Successful Bidder was identified within such
45-day period, the terminated Master Servicer shall reimburse the Trustee for
all reasonable "out-of-pocket" expenses incurred by the Trustee in connection
with such bid process and the Trustee shall have no further obligations under
this Section 7.01(f). The Trustee thereafter may act or may select a successor
to act as Master Servicer hereunder in accordance with Section 7.02.

      Section 7.02 Trustee to Act; Appointment of Successor.

      On and after the time the Master Servicer, the Special Servicer or the
REMIC Administrator resigns pursuant to clause (ii) of the first sentence of
Section 6.04 or receives a notice of termination pursuant to Section 7.01, the
Trustee shall be the successor in all respects to the Master Servicer, the
Special Servicer or (unless it has also been acting as such) the REMIC
Administrator, as the case may be, in its capacity as such under this Agreement
and the transactions set forth or provided for herein and shall be subject to
all the responsibilities, duties and liabilities relating thereto and arising
thereafter placed on the Master Servicer, the Special Servicer or the REMIC
Administrator, as the case may be, by the terms and provisions hereof,
including, without limitation, if the Master Servicer is the resigning or
terminated party, the Master Servicer's obligation to make P&I Advances;
provided that any failure to perform such duties or responsibilities caused by
the Master Servicer's, the Special Servicer's or the REMIC Administrator's, as
the case may be, failure to cooperate or to provide information or monies
required by Section 7.01 shall not be considered a default by the Trustee
hereunder. Neither the Trustee nor any other successor shall be liable for any
of the representations and warranties of the resigning or terminated party or
for any losses incurred by the resigning or terminated party pursuant to Section
3.06 hereunder nor shall the Trustee nor any other successor be required to
purchase any Loan hereunder. As compensation therefor, the Trustee shall be
entitled to all fees and other compensation (subject to Section 3.11) that the
resigning or terminated party would have been entitled to for future services
rendered if the resigning or terminated party had continued to act hereunder.
Notwithstanding the above, the Trustee may, if it shall be unwilling to so act,
or shall, if it is unable to so act, or is not approved by each and every Rating
Agency as an acceptable master servicer or special servicer, as the case may be,
of commercial mortgage loans; or if the Directing Certificateholder or if the
Holders of Certificates entitled to at least 51% of the Voting Rights so request
in writing to the Trustee; or if the REMIC Administrator is the resigning or
terminated party and the Trustee had been acting in such capacity, promptly
appoint, or petition a court of competent jurisdiction to appoint, any
established and qualified institution as the successor to the Master Servicer,
the Special Servicer or the REMIC Administrator, as the case may be, hereunder
in the assumption of all or any part of the responsibilities, duties or
liabilities of the Master Servicer, the Special Servicer or the REMIC
Administrator, as the case may be, hereunder; provided, in the case of a
successor Master Servicer, such successor has been approved by the Directing
Certificateholder, which consent with respect to the Master Servicer shall not
be unreasonably withheld or delayed; provided that such appointment does not
result in the downgrading, qualification (if applicable) or withdrawal of any
rating then assigned by any Rating Agency to any Class of Certificates (as
evidenced by written confirmation thereof from each Rating Agency); provided
further that in the case of a resigning or terminated Special Servicer, such
appointment shall be subject to the rights of the Majority Certificateholder of
the Controlling Class to designate a successor pursuant to Section 3.23. No
appointment of a successor to the Master Servicer, the Special Servicer or the
REMIC Administrator hereunder shall be effective until the assumption of the
successor to such party of all its responsibilities, duties and liabilities
hereunder. Pending appointment of a successor to the Master Servicer, the
Special Servicer or the REMIC Administrator hereunder, the Trustee shall act in
such capacity as hereinabove provided. Notwithstanding the above, the Trustee
shall, if the Master Servicer is the resigning or terminated party and the
Trustee is prohibited by law or regulation from making P&I Advances, promptly
appoint any established mortgage loan servicing institution that has a net worth
of not less than $15,000,000 and is otherwise acceptable to each Rating Agency
(as evidenced by written confirmation therefrom to the effect that the
appointment of such institution would not cause the qualification, downgrading
or withdrawal of the then current rating on any Class of Certificates), as the
successor to the Master Servicer hereunder in the assumption of all or any part
of the responsibilities, duties or liabilities of the Master Servicer hereunder
(including, without limitation, the obligation to make P&I Advances), which
appointment will become effective immediately. Subject to Section 3.11 and in
connection with any such appointment and assumption described herein, the
Trustee may make such arrangements for the compensation of such successor out of
payments on or in respect of the Mortgage Loans or otherwise as it and such
successor shall agree; provided, however, that no such compensation shall be in
excess of that permitted the resigning or terminated party hereunder. The
Depositor, the Trustee, such successor and each other party hereto shall take
such action, consistent with this Agreement, as shall be necessary to effectuate
any such succession. Any costs and expenses associated with the transfer of the
foregoing functions under this Agreement (other than the set-up costs of the
successor) shall be borne by the predecessor Master Servicer, Special Servicer
or REMIC Administrator, as applicable, and, if not paid by such predecessor
Master Servicer, Special Servicer or REMIC Administrator within 30 days of its
receipt of an invoice therefor, shall be an expense of the Trust; provided that
such predecessor Master Servicer, Special Servicer or REMIC Administrator shall
reimburse the Trust for any such expense so incurred by the Trust; and provided,
further, that if the Trustee is directed to do so by the Directing
Certificateholder, the Trustee shall pursue any remedy against any party
obligated to make such reimbursement.

      Section 7.03 Form 8-K Information; Notification to Certificateholders.

      (a) The predecessor and successor Master Servicer shall each provide the
Depositor and the Trustee with all information required by the Depositor to
comply with its reporting obligation under Item 6.02 of Form 8-K not later than
the effective date of such appointment.

      (b) Upon any resignation of the Master Servicer, the Special Servicer or
the REMIC Administrator pursuant to Section 6.04, any termination of the Master
Servicer, the Special Servicer or the REMIC Administrator pursuant to Section
7.01 or any appointment of a successor to the Master Servicer, the Special
Servicer or the REMIC Administrator pursuant to Section 6.04 or Section 7.02,
the Trustee shall give prompt written notice thereof to Certificateholders at
their respective addresses appearing in the Certificate Register.

      (c) Not later than the later of (i) 60 days after the occurrence of any
event that constitutes or, with notice or lapse of time or both, would
constitute an Event of Default and (ii) five days after the Trustee has actual
knowledge, or would be deemed in accordance with Section 8.02(g) to have notice
of the occurrence of such an event, the Trustee shall transmit by mail to the
other non-defaulting parties hereto and all Certificateholders notice of such
occurrence, unless such default shall have been cured.

      Section 7.04 Waiver of Events of Default.

      The Holders entitled to at least 66-2/3% of the Voting Rights allocated to
each of the Classes of Certificates affected by any Event of Default hereunder
may waive such Event of Default, except that prior to any waiver of an Event of
Default arising from a failure to make P&I Advances, the Trustee shall be
reimbursed all amounts that it has advanced and for any costs and expenses
associated with any related Servicing Transfer Event. Upon any such waiver of an
Event of Default, such Event of Default shall cease to exist and shall be deemed
to have been remedied for every purpose hereunder. No such waiver shall extend
to any subsequent or other Event of Default or impair any right consequent
thereon except to the extent expressly so waived. Notwithstanding any other
provisions of this Agreement, for purposes of waiving any Event of Default
pursuant to this Section 7.04, Certificates registered in the name of the
Depositor or any Affiliate of the Depositor (provided that neither the Depositor
nor any Affiliate thereof is the party in respect of which such Event of Default
exists) shall be entitled to the same Voting Rights with respect to the matters
described above as they would if any other Person held such Certificates.

      Section 7.05 Additional Remedies of Trustee Upon Event of Default.

      During the continuance of any Event of Default, so long as such Event of
Default shall not have been remedied, the Trustee, in addition to the rights
specified in Section 7.01, shall have the right, in its own name and as trustee
of an express trust, to take all actions now or hereafter existing at law, in
equity or by statute to enforce its rights and remedies and to protect the
interests, and enforce the rights and remedies, of the Certificateholders
(including the institution and prosecution of all judicial, administrative and
other proceedings and the filings of proofs of claim and debt in connection
therewith). Except as otherwise expressly provided in this Agreement, no remedy
provided for by this Agreement shall be exclusive of any other remedy, and each
and every remedy shall be cumulative and in addition to any other remedy, and no
delay or omission to exercise any right or remedy shall impair any such right or
remedy or shall be deemed to be a waiver of any Event of Default.

<PAGE>

                                  ARTICLE VIII

                             CONCERNING THE TRUSTEE

      Section 8.01 Duties of Trustee.

      (a) The Trustee, prior to the occurrence of an Event of Default hereunder
and after the curing or waiver of all such Events of Default and defaults that
may have occurred, undertakes to perform such duties and only such duties as are
specifically set forth in this Agreement; provided that it is herein
acknowledged and agreed that the Trustee is at all times acting in a fiduciary
capacity with respect to the Certificateholders. If an Event of Default
hereunder occurs and is continuing, the Trustee shall exercise such of the
rights and powers vested in it by this Agreement and applicable law, and use the
same degree of care and skill in their exercise as a prudent man or the Trustee
would exercise or use under the circumstances in the conduct of his or its own
affairs (whichever standard would be higher). Any permissive right of the
Trustee contained in this Agreement shall not be construed as a duty.

      (b) The Trustee, upon receipt of all resolutions, certificates,
statements, opinions, reports, documents, orders or other instruments furnished
to the Trustee that are specifically required to be furnished pursuant to any
provision of this Agreement (other than the Mortgage Files, the review of which
is specifically governed by the terms of Article II), shall examine them to
determine whether they conform in form to the requirements of this Agreement. If
any such instrument is found not to so conform to the requirements of this
Agreement in a material manner, the Trustee shall take such action as it deems
appropriate to have the instrument corrected. The Trustee shall not be
responsible for, but may assume and rely upon, the accuracy and content of any
resolution, certificate, statement, opinion, report, document, order or other
instrument furnished by the Depositor, the Master Servicer, the Special Servicer
or the REMIC Administrator and accepted by the Trustee in good faith, pursuant
to this Agreement.

      (c) No provision of this Agreement shall be construed to relieve the
Trustee from liability for its own negligent action, its own negligent failure
to act or its own willful misconduct; provided, however, that:

            (i) The duties and obligations of the Trustee shall be determined
      solely by the express provisions of this Agreement, the Trustee shall not
      be liable except for the performance of such duties and obligations as are
      specifically set forth in this Agreement, no implied covenants or
      obligations shall be read into this Agreement against the Trustee and, in
      the absence of bad faith on the part of the Trustee, the Trustee may
      conclusively rely, as to the truth of the statements and the correctness
      of the opinions expressed therein, upon any certificates or opinions
      furnished to the Trustee and conforming to the requirements of this
      Agreement;

            (ii) The Trustee shall not be personally liable for an error of
      judgment made in good faith by a Responsible Officer or Responsible
      Officers of the Trustee, unless it shall be proved that the Trustee was
      negligent in ascertaining the pertinent facts; and

            (iii) The Trustee shall not be personally liable with respect to any
      action taken, suffered or omitted to be taken by it in good faith in
      accordance with the direction of Holders of Certificates entitled to at
      least 25% (or, as to any particular matter, any higher percentage as may
      be specifically provided for hereunder) of the Voting Rights relating to
      the time, method and place of conducting any proceeding for any remedy
      available to the Trustee, or exercising any trust or power conferred upon
      the Trustee, under this Agreement.

      (d) The Trustee hereby indemnifies and holds the Trust harmless for all
losses, liabilities and damages incurred by the Trust or the Certificateholders
by virtue of the Trustee's negligence or fraud.

      Section 8.02 Certain Matters Affecting the Trustee.

      Except as otherwise provided in Section 8.01:

      (a) The Trustee may rely upon and shall be protected in acting or
refraining from acting upon any resolution, Officer's Certificate, certificate
of auditors or any other certificate, statement, instrument, opinion, report,
notice, request, consent, order, appraisal, bond or other paper or document
reasonably believed by it to be genuine and to have been signed or presented by
the proper party or parties;

      (b) The Trustee may consult with counsel and the written advice of such
counsel or any Opinion of Counsel shall be full and complete authorization and
protection in respect of any action taken or suffered or omitted by it hereunder
in good faith and in accordance therewith;

      (c) The Trustee shall be under no obligation to exercise any of the trusts
or powers vested in it by this Agreement or to make any investigation of matters
arising hereunder or to institute, conduct or defend any litigation hereunder or
in relation hereto at the request, order or direction of any of the
Certificateholders, pursuant to the provisions of this Agreement, unless such
Certificateholders shall have offered to the Trustee reasonable security or
indemnity against the costs, expenses and liabilities that may be incurred
therein or thereby; the Trustee shall not be required to expend or risk its own
funds or otherwise incur any financial liability in the performance of any of
its duties hereunder, or in the exercise of any of its rights or powers, if it
shall have reasonable grounds for believing that repayment of such funds or
adequate indemnity against such risk or liability is not reasonably assured to
it; nothing contained herein shall, however, relieve the Trustee of the
obligation, upon the occurrence of an Event of Default hereunder that has not
been cured, to exercise such of the rights and powers vested in it by this
Agreement and to use the same degree of care and skill in their exercise as a
prudent man would exercise or use under the circumstances in the conduct of his
own affairs;

      (d) The Trustee shall not be personally liable for any action reasonably
taken, suffered or omitted by it in good faith and believed by it to be
authorized or within the discretion or rights or powers conferred upon it by
this Agreement;

      (e) Prior to the occurrence of an Event of Default hereunder, and after
the curing of all such Events of Default that may have occurred, the Trustee
shall not be bound to make any investigation into the facts or matters stated in
any resolution, certificate, statement, instrument, opinion, report, notice,
request, consent, order, approval, bond or other paper or document, unless
requested in writing to do so by Holders of Certificates entitled to at least
25% of the Voting Rights; provided, however, that if the payment within a
reasonable time to the Trustee of the costs, expenses or liabilities likely to
be incurred by it in the making of such investigation is, in the opinion of the
Trustee, not reasonably assured to the Trustee by the security afforded to it by
the terms of this Agreement, the Trustee may require reasonable indemnity
against such expense or liability as a condition to taking any such action;

      (f) The Trustee may execute any of the trusts or powers hereunder or
perform any duties hereunder either directly or by or through agents or
attorneys-in-fact, provided that the use of any such agent or attorney-in-fact
shall not relieve the Trustee from any of its obligations hereunder, and the
Trustee shall remain responsible for all acts and omissions of any such agent or
attorney-in-fact;

      (g) For all purposes under this Agreement, the Trustee shall not be deemed
to have notice of any Event of Default hereunder unless a Responsible Officer of
the Trustee has actual knowledge thereof or unless written notice of any event
that is in fact such a default is received by the Trustee at the Corporate Trust
Office, and such notice references the Certificates or this Agreement; and

      (h) The Trustee shall not be responsible for any act or omission of the
Master Servicer, the Special Servicer or the REMIC Administrator (unless the
Trustee is acting as Master Servicer, Special Servicer or REMIC Administrator,
as the case may be) or for any act or omission of the Depositor or the Mortgage
Loan Sellers.

      Section 8.03 Trustee Not Liable for Validity or Sufficiency of
Certificates or Loans.

      The recitals contained herein and in the Certificates (other than the
representations and warranties of, and the other statements attributed to, the
Trustee in Article II and the certificate of authentication executed by the
Trustee as Certificate Registrar set forth on each outstanding Certificate)
shall be taken as the statements of the Depositor, the Master Servicer, the
Special Servicer or the REMIC Administrator, as the case may be, and the Trustee
assumes no responsibility for their correctness. The Trustee makes no
representations as to the validity or sufficiency of this Agreement (other than
as specifically set forth in Section 2.07) or of any Certificate (other than as
to the signature of the Trustee set forth thereon) or of any Loan or related
document. The Trustee shall not be accountable for the use or application by the
Depositor of any of the Certificates issued to it or of the proceeds of such
Certificates, or for the use or application of any funds paid to the Depositor
in respect of the assignment of the Mortgage Loans to the Trust, or any funds
deposited into or withdrawn from the Certificate Account, the Interest Reserve
Account or any other account by or on behalf of the Depositor, the Master
Servicer, the Special Servicer or the REMIC Administrator. The Trustee shall not
be responsible for the accuracy or content of any resolution, certificate,
statement, opinion, report, document, order or other instrument furnished by the
Depositor, the Master Servicer, the Special Servicer or the REMIC Administrator
and accepted by the Trustee, in good faith, pursuant to this Agreement.

      Section 8.04 Trustee May Own Certificates.

      The Trustee, in its individual or any other capacity, and any agent of the
Trustee may become the owner or pledgee of Certificates with, except as
otherwise provided in the definition of Certificateholder, the same rights it
would have if it were not the Trustee or such agent, as the case may be.

      Section 8.05 Fees of Trustee; Indemnification of Trustee.

      (a) The Trustee shall pay to itself on each Distribution Date, pursuant to
Section 3.05(b)(ii), from amounts on deposit in the Distribution Account, an
amount equal to the Trustee Fee for such Distribution Date and, to the extent
not previously received, for each prior Distribution Date.

      (b) The Trustee and any director, officer, employee or agent of the
Trustee (whether in their Trustee capacity or individually), or Person, if any,
who controls the Trustee within the meaning of either Section 15 of the
Securities Act or Section 20 of the Exchange Act, shall be entitled to be
indemnified and held harmless by the Trust (to the extent of amounts on deposit
in the Certificate Account and the Distribution Account from time to time)
against any loss, liability or expense (including, without limitation, costs and
expenses of litigation, and of investigation, counsel fees, damages, judgments
and amounts paid in settlement) arising out of, or incurred in connection with,
any legal actions relating to the exercise and performance of any of the powers
and duties of the Trustee hereunder and any other "unanticipated expenses"
(similar to those defined in Treasury Regulations Section 1.860G-1(b)(3)(ii)) of
the Trustee; provided that the Trustee shall not be entitled to indemnification
pursuant to this Section 8.05(b) for (i) allocable overhead, (ii) expenses or
disbursements incurred or made by or on behalf of the Trustee in the normal
course of the Trustee's performing its routine duties in accordance with any of
the provisions hereof, (iii) any expense or liability specifically required to
be borne thereby pursuant to the terms hereof, or (iv) any loss, liability or
expense incurred by reason of willful misfeasance, bad faith or negligence in
the performance of the Trustee's obligations and duties hereunder, or by reason
of negligent disregard of such obligations or duties, or as may arise from a
breach of any representation, warranty or covenant of the Trustee made herein.
The provisions of this Section 8.05(b) shall (i) survive any resignation or
removal of the Trustee and appointment of a successor trustee and (ii) extend to
any other role that the Trustee may assume hereunder, including without
limitation REMIC Administrator, Custodian and/or Certificate Registrar.

      Section 8.06 Eligibility Requirements for Trustee.

      The Trustee hereunder shall at all times be a corporation, a trust
company, a bank or a banking association: (i) organized and doing business under
the laws of the United States of America or any State thereof or the District of
Columbia; (ii) authorized under such laws to exercise trust powers; (iii) having
a combined capital and surplus of at least $50,000,000; (iv) subject to
supervision or examination by federal or state authority; and (v) whose
long-term senior unsecured debt is rated not less than "AA-" by S&P (or "A+" by
S&P, if the Trustee's unsecured short-term debt is rated at least "A-1" by S&P)
and whose short-term unsecured debt obligations are rated not less than "F-1" by
Fitch (or, in the case of either Rating Agency, such other rating as each such
Rating Agency shall permit so long as it is accompanied by a statement in
writing that any of the then-current ratings assigned by such Rating Agency to
the respective Classes of the Certificates would not be downgraded, qualified
(if applicable) or withdrawn as a result of such rating). If such corporation,
trust company, bank or banking association publishes reports of condition at
least annually, pursuant to law or to the requirements of the aforesaid
supervising or examining authority, then, for the purposes of this Section 8.06,
the combined capital and surplus of such corporation, trust company, bank or
banking association shall be deemed to be its combined capital and surplus as
set forth in its most recent report of condition so published. No Person shall
become a successor trustee hereunder if the succession of such Person would
result in a downgrade, qualification (if applicable) or withdrawal of any of the
ratings then assigned by the Rating Agencies to the Certificates. In case at any
time the Trustee shall cease to be eligible in accordance with the provisions of
this Section 8.06, the Trustee shall resign immediately in the manner and with
the effect specified in Section 8.07. Notwithstanding the foregoing, if the
Trustee meets the requirements of clauses (i) through (iv) above, but does not
meet the requirements of clause (v) above, the Trustee shall be deemed to meet
the requirements of such clause (v) if (a) it appoints a fiscal agent as a
back-up advancer that satisfies the requirements of such clause (v) and (b) such
fiscal agent shall have assumed in writing all obligations of the Trustee to
make Advances under this Agreement as and when required of the Trustee. The
corporation, trust company, bank or banking association serving as Trustee may
have normal banking and trust relationships with the Depositor, the Master
Servicer, the Special Servicer, the REMIC Administrator and their respective
Affiliates.

      Section 8.07 Resignation and Removal of the Trustee.

      (a) The Trustee may at any time resign and be discharged from the trusts
hereby created by giving written notice thereof to the Depositor, the Master
Servicer, the Special Servicer, the REMIC Administrator and all
Certificateholders and Companion Loan Holder(s). Upon receiving such notice of
resignation, the Depositor shall promptly appoint a successor trustee acceptable
to the Master Servicer by written instrument, in duplicate, which instrument
shall be delivered to the resigning Trustee and to the successor trustee. A copy
of such instrument shall be delivered to the Master Servicer, the Special
Servicer, the REMIC Administrator and the Certificateholders by the Depositor.
If no successor trustee shall have been so appointed and have accepted
appointment within 30 days after the giving of such notice of resignation, the
resigning Trustee may petition any court of competent jurisdiction for the
appointment of a successor trustee.

      (b) If at any time the Trustee shall cease to be eligible in accordance
with the provisions of Section 8.06 and shall fail to resign after written
request therefor by the Depositor or the Master Servicer, or if at any time the
Trustee shall become incapable of acting, or shall be adjudged bankrupt or
insolvent, or a receiver of the Trustee or of its property shall be appointed,
or any public officer shall take charge or control of the Trustee or of its
property or affairs for the purpose of rehabilitation, conservation or
liquidation, then the Depositor may remove the Trustee and appoint a successor
trustee acceptable to the Master Servicer by written instrument, in duplicate,
which instrument shall be delivered to the Trustee so removed and to the
successor trustee. A copy of such instrument shall be delivered to the Master
Servicer, the Special Servicer, the Directing Certificateholder, the Companion
Loan Holder(s), the REMIC Administrator and the Certificateholders by the
Depositor.

      (c) The Holders of Certificates entitled to at least 51% of the Voting
Rights may at any time remove the Trustee and appoint a successor trustee by
written instrument or instruments, in triplicate, signed by such Holders or
their attorneys-in-fact duly authorized, one complete set of which instruments
shall be delivered to the Master Servicer, one complete set to the Trustee so
removed and one complete set to the successor so appointed; provided that the
Master Servicer, the Companion Loan Holder(s), the Depositor and the remaining
Certificateholders shall have been notified; and provided further that other
Holders of the Certificates entitled to a greater percentage of the Voting
Rights shall not have objected to such removal in writing to the Master Servicer
and the Depositor within 30 days of their receipt of notice thereof. A copy of
such instrument shall be delivered to the Depositor, the Special Servicer, the
REMIC Administrator and the remaining Certificateholders by the Master Servicer.
If the Trustee is removed under this Agreement without cause, all reasonable
costs and expenses incurred by the Trustee (to the extent not duplicative of any
reimbursement provided for under Section 8.08(a)) shall be at the expense of the
party causing such removal.

      (d) Any resignation or removal of the Trustee and appointment of a
successor trustee pursuant to any of the provisions of this Section 8.07 shall
not become effective until acceptance of appointment by the successor trustee as
provided in Section 8.08; and no such resignation or removal of the Trustee
and/or appointment of a successor trustee shall be permitted, unless, as
confirmed in writing by each Rating Agency, such resignation or removal and
appointment would not result in the downgrade, qualification (if applicable) or
withdrawal of the rating assigned by any Rating Agency to any Class of
Certificates. The Master Servicer shall give notice to the holder of the Desert
Passage Pari Passu Note A-1 and the holder of the 277 Park Avenue Pari Passu
Note A-1 of any resignation or removal of the Trustee and appointment of a
successor trustee.

      Section 8.08 Successor Trustee.

      (a) Any successor trustee appointed as provided in Section 8.07 shall
execute, acknowledge and deliver to the Depositor, the Master Servicer, the
Special Servicer, the REMIC Administrator and to its predecessor trustee an
instrument accepting such appointment hereunder, and thereupon the resignation
or removal of the predecessor trustee shall become effective and such successor
trustee without any further act, deed or conveyance, shall become fully vested
with all the rights, powers, duties and obligations of its predecessor
hereunder, with the like effect as if originally named as trustee herein. The
predecessor trustee shall deliver to the successor trustee all Mortgage Files
and related documents and statements held by it hereunder, and the Depositor,
the Master Servicer, the Special Servicer, the REMIC Administrator and the
predecessor trustee shall execute and deliver such instruments and do such other
things as may reasonably be required to more fully and certainly vest and
confirm in the successor trustee all such rights, powers, duties and
obligations, and to enable the successor trustee to perform its obligations
hereunder. If such predecessor trustee was removed as Trustee under this
Agreement without cause, the cost of any such execution, delivery or action
shall be at the expense of the Trust.

      (b) No successor trustee shall accept appointment as provided in this
Section 8.08 unless at the time of such acceptance such successor trustee shall
be eligible under the provisions of Section 8.06.

      (c) Upon acceptance of appointment by a successor trustee as provided in
this Section 8.08, the successor trustee shall mail notice of the succession of
such trustee to the Depositor and the Certificateholders.

      (d) The predecessor Trustee and successor Trustee shall notify the
Depositor of any such appointment at least two Business Days prior to the
effective date thereof and shall provide the Depositor with all information
required by the Depositor to comply with its reporting obligation under Item
6.02 of Form 8-K not later than the effective date of such appointment.

      Section 8.09 Merger or Consolidation of Trustee.

      Any entity into which the Trustee may be merged or converted or with which
it may be consolidated or any entity resulting from any merger, conversion or
consolidation to which the Trustee shall be a party, or any entity succeeding to
the corporate trust business of the Trustee, shall be the successor of the
Trustee, hereunder, without the execution or filing of any paper or any further
act on the part of any of the parties hereto, anything herein to the contrary
notwithstanding; provided that the Trustee shall continue to be eligible under
the provisions of Section 8.06 and, as confirmed in writing by each Rating
Agency, such merger, conversion or consolidation would not result in the
downgrade, qualification (if applicable) or withdrawal of the rating assigned by
any Rating Agency to any Class of Certificates. The successor to the Trustee
shall promptly notify in writing each of the other parties hereto, the
Certificateholders and the Rating Agencies of any such merger, conversion,
consolidation or succession to business. The Trustee and such surviving Person
shall notify the Depositor of any such merger, conversion or consolidation at
least two Business Days prior to the effective date thereof and shall provide
the Depositor will all information required by the Depositor to comply with its
reporting obligation under Item 6.02 of Form 8-K not later than the effective
date of such merger, conversion or consolidation.

      Section 8.10 Appointment of Co-Trustee or Separate Trustee.

      (a) Notwithstanding any other provisions hereof, at any time, for the
purpose of meeting any legal requirements of any jurisdiction in which any part
of the Trust Fund or property securing the same may at the time be located, the
Master Servicer and the Trustee acting jointly shall have the power and shall
execute and deliver all instruments to appoint one or more Persons approved by
the Trustee to act as co-trustee or co-trustees, jointly with the Trustee, or
separate trustee or separate trustees, of all or any part of the Trust Fund, and
to vest in such Person or Persons, in such capacity, such title to the Trust
Fund, or any part thereof, and, subject to the other provisions of this Section
8.10, such powers, duties, obligations, rights and trusts as the Master Servicer
and the Trustee may consider necessary or desirable. If the Master Servicer
shall not have joined in such appointment within 15 days after the receipt by it
of a request to do so, or in case an Event of Default in respect of the Master
Servicer shall have occurred and be continuing, the Trustee alone shall have the
power to make such appointment. No co-trustee or separate trustee hereunder
shall be required to meet the terms of eligibility as a successor trustee under
Section 8.06 hereunder and no notice to Holders of Certificates of the
appointment of co-trustee(s) or separate trustee(s) shall be required under
Section 8.08.

      (b) In the case of any appointment of a co-trustee or separate trustee
pursuant to this Section 8.10 all rights, powers, duties and obligations
conferred or imposed upon the Trustee, to the extent necessary for such
co-trustee to perform its duties and obligations for which it has been appointed
and specifically including the provisions of Section 8.05(b), shall be conferred
or imposed upon and exercised or performed by the Trustee and such separate
trustee or co-trustee jointly, except to the extent that under any law of any
jurisdiction in which any particular act or acts are to be performed (whether as
Trustee hereunder or as successor to the Master Servicer, the Special Servicer
or the REMIC Administrator hereunder), the Trustee shall be incompetent or
unqualified to perform such act or acts, in which event such rights, powers,
duties and obligations (including the holding of title to the Trust Fund or any
portion thereof in any such jurisdiction) shall be exercised and performed by
such separate trustee or co-trustee at the direction of the Trustee.

      (c) Any notice, request or other writing given to the Trustee shall be
deemed to have been given to each of the then separate trustees and co-trustees,
as effectively as if given to each of them. Every instrument appointing any
separate trustee or co-trustee shall refer to this Agreement and the conditions
of this Article VIII. Each separate trustee and co-trustee, upon its acceptance
of the trusts conferred, shall be vested with the estates or property specified
in its instrument of appointment, either jointly with the Trustee or separately,
as may be provided therein, subject to all the provisions of this Agreement,
specifically including every provision of this Agreement relating to the conduct
of, affecting the liability of, or affording protection to, the Trustee. Every
such instrument shall be filed with the Trustee.

      (d) Any separate trustee or co-trustee may, at any time, constitute the
Trustee, its agent or attorney-in-fact, with full power and authority, to the
extent not prohibited by law, to do any lawful act under or in respect of this
Agreement on its behalf and in its name. If any separate trustee or co-trustee
shall die, become incapable of acting, resign or be removed, all of its estates,
properties, rights, remedies and trusts shall vest in and be exercised by the
Trustee, to the extent permitted by law, without the appointment of a new or
successor trustee.

      (e) The appointment of a co-trustee or separate trustee under this Section
8.10 shall not relieve the Trustee of its duties, responsibilities or
liabilities hereunder; provided the Trustee shall have no liability for the
actions or inaction of a separate trustee or co-trustee that do not comply with
the provisions of Section 8.10(b).

      Section 8.11 Appointment of Custodians.

      The Trustee may, with the consent of the Master Servicer, appoint one or
more Custodians to hold all or a portion of the Mortgage Files as agent for the
Trustee; provided that if the Custodian is an Affiliate of the Trustee such
consent of the Master Servicer need not be obtained and the Trustee shall
instead notify the Master Servicer of such appointment. Each Custodian shall be
a depository institution subject to supervision by federal or state authority,
shall have combined capital and surplus (or shall have its performance
guaranteed by an Affiliate with a combined capital and surplus) of at least
$10,000,000, shall be qualified to do business in the jurisdiction in which it
holds any Mortgage File and shall not be the Depositor, any Mortgage Loan Seller
or any Affiliate of any of them. Each Custodian shall be subject to the same
obligations and standard of care as would be imposed on the Trustee hereunder in
connection with the retention of Mortgage Files directly by the Trustee. The
appointment of one or more Custodians shall not relieve the Trustee from any of
its duties, liabilities or obligations hereunder, and the Trustee shall remain
responsible for all acts and omissions of any Custodian. Any such Custodian
(other than the Trustee or an Affiliate of the Trustee) shall maintain the same
errors and omissions insurance as required of the Master Servicer pursuant to
Section 3.07(c).

      Section 8.12 Access to Certain Information.

      (a) The Trustee shall provide or cause to be provided to the Depositor,
the Master Servicer, the Special Servicer and the Rating Agencies, and to the
OTS, the FDIC, and any other federal or state banking or insurance regulatory
authority that may exercise authority over any Certificateholder, access to the
Mortgage Files and any other documentation regarding the Loans and the Trust
Fund, that is within its control that may be required by this Agreement or by
applicable law. Such access shall be afforded without charge but only upon
reasonable prior written request and during normal business hours at the offices
of the Trustee designated by it.

      (b) Promptly following the first sale of any Non-Registered Certificate to
an Independent third party, the Depositor shall provide to the Trustee ten
copies of any private placement memorandum or other disclosure document used by
the Depositor or its Affiliate in connection with the offer and sale of the
Class of Certificates to which such Non-Registered Certificate belongs. In
addition, if any such private placement memorandum or disclosure document is
revised, amended or supplemented at any time following the delivery thereof to
the Trustee, the Depositor promptly shall inform the Trustee of such event and
shall deliver to the Trustee ten copies of the private placement memorandum or
disclosure document, as revised, amended or supplemented. The Trustee shall
maintain at its Corporate Trust Office and shall on behalf of the Depositor,
upon reasonable advance written notice, make available during normal business
hours for review by each Rating Agency and by any Certificateholder or any
Certificate Owner or any Person identified to the Trustee by a Certificateholder
or a Certificate Owner as a prospective transferee of a Certificate or interest
therein, originals or copies of the following items: (i) in the case of a Holder
or prospective transferee of a Non-Registered Certificate, any private placement
memorandum or other disclosure document relating to the Class of Certificates to
which such Non-Registered Certificate belongs, in the form most recently
provided to the Trustee; and (ii) in all cases, (A) all Officer's Certificates
delivered to the Trustee since the Closing Date pursuant to Section 11.09, (B)
all accountants' reports delivered to the Trustee since the Closing Date
pursuant to Section 11.11, (C) the most recent inspection report, together with
any related additional written or electronic information, prepared or obtained
by, or on behalf of, the Master Servicer or Special Servicer, as the case may
be, and delivered to the Trustee in respect of each Mortgaged Property pursuant
to Section 3.12(a), (D) all Mortgagor financial statements and Mortgaged
Property operating statements and rent rolls, together with any related
additional written or electronic information, delivered to the Trustee by the
Master Servicer or the Special Servicer pursuant to Section 3.12(b), (E) any and
all notices and reports delivered to the Trustee with respect to any Mortgaged
Property securing a Defaulted Serviced Loan as to which the environmental
testing contemplated by Section 3.09(c) revealed that either of the conditions
set forth in clauses (i) and (ii) of the first sentence thereof was not
satisfied or that any remedial, corrective or other further action contemplated
in such clauses is required (but only for so long as such Mortgaged Property or
the related Mortgage Loan is part of the Trust Fund), (F) all documents
constituting the Mortgage Files, including, without limitation, any and all
modifications, waivers and amendments of the terms of a Loan entered into by the
Master Servicer or the Special Servicer and delivered to the Trustee pursuant to
Section 3.20 (but, in each case, only for so long as the related Mortgage Loan
is part of the Trust Fund) and, (G) any Asset Status Report. Copies of any and
all of the foregoing items are to be available from the Trustee upon request;
however, the Trustee shall be permitted to require payment of a sum sufficient
to cover the reasonable costs and expenses of providing such service.

      In connection with providing access to or copies of the items described in
the immediately preceding paragraph of this Section 8.12(b), the Trustee may
require, unless the Depositor directs otherwise, (i) in the case of Certificate
Owners, a written confirmation executed by the requesting Person, in form
reasonably satisfactory to the Trustee, generally to the effect that such Person
is a beneficial holder of Certificates and will keep such information
confidential and (ii) in the case of any prospective purchaser of a Certificate
or, in the case of a Book-Entry Certificate, of a beneficial ownership interest
therein, a written confirmation executed by the requesting Person, in form
reasonably satisfactory to the Trustee, generally to the effect that such Person
is a prospective purchaser of a Certificate or a beneficial ownership interest
therein, is requesting the information for use in evaluating a possible
investment in Certificates and will otherwise keep such information
confidential. All Certificateholders, by acceptance of their Certificates, shall
be deemed to have agreed to keep such information confidential, except to the
extent that the Depositor grants written permission to the contrary.
Notwithstanding the preceding sentences of this paragraph, the Trustee shall
have no responsibility for the accuracy, completeness or sufficiency of any
information so made available or furnished by it in the manner described in the
immediately preceding paragraph.

      Section 8.13 Maintenance of Mortgage File.

      Except for the release of items in the Mortgage File contemplated by this
Agreement, including, without limitation, as necessary for the enforcement of
the holder's rights and remedies under the related Mortgage Loan, the Trustee
covenants and agrees that it shall maintain each Mortgage File in the State of
Illinois, and that it shall not move any Mortgage File outside the State of
Illinois, other than as specifically provided for in this Agreement, unless it
shall first obtain and provide, at the expense of the Trustee, an Opinion of
Counsel addressed to the Depositor and the Rating Agencies to the effect that
the Trustee's first priority interest in the Mortgage Notes has been duly and
fully perfected under the applicable laws and regulations of such other
jurisdiction.

<PAGE>

                                   ARTICLE IX

                                   TERMINATION

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

      Subject to Section 9.02, the Trust and the respective obligations and
responsibilities under this Agreement of the Depositor, the Master Servicer, the
Special Servicer, the Trustee and the REMIC Administrator (other than the
obligations of the Trustee to provide for and make payments to
Certificateholders as hereafter set forth and the obligations of the REMIC
Administrator to file the final Tax Returns for each of REMIC I and REMIC II and
to maintain the books and records thereof for a commercially reasonable period)
shall terminate upon payment (or provision for payment) to the
Certificateholders of all amounts held by or on behalf of the Trustee and
required hereunder to be so paid on the Distribution Date following the earlier
to occur of (i) the purchase by the Majority Certificateholder of the
Controlling Class (other than the Depositor or any Mortgage Loan Seller) the
Master Servicer, or the Special Servicer (in that order of priority) of all
Mortgage Loans and each REO Property remaining in REMIC I at a price (to be
calculated by the Master Servicer and the Trustee as of the close of business on
the third Business Day preceding the date upon which notice of any such purchase
is furnished to Certificateholders pursuant to the third paragraph of this
Section 9.01 and as if the purchase was to occur on such Business Day) equal to
(A) the aggregate Purchase Price of all the Mortgage Loans included in REMIC I,
plus (B) the appraised value of each REO Property, if any, included in REMIC I
(such appraisal to be conducted by a Qualified Appraiser selected by the Master
Servicer or the Special Servicer and approved by the Trustee), minus (C) if such
purchase is being made by the Master Servicer or the Special Servicer, the
aggregate amount of unreimbursed Advances made by the related person, together
with any Advance Interest payable to the related person in respect of such
Advances and any unpaid servicing compensation remaining outstanding (which
items shall be deemed to have been paid or reimbursed to the related person in
connection with such purchase), and (ii) the final payment or other liquidation
(or any Advance with respect thereto) of the last Mortgage Loan or REO Property
remaining in REMIC I; provided, however, that in no event shall the trust
created hereby continue beyond the expiration of 21 years from the death of the
last survivor of the descendants of Joseph P. Kennedy, the late ambassador of
the United States to the Court of St. James, living on the date hereof.

      The Majority Certificateholder of the Controlling Class (other than the
Depositor or any Mortgage Loan Seller) has the right, and if the Majority
Certificateholder of the Controlling Class fails to exercise such right, the
Master Servicer and the Special Servicer, in that order of priority, has the
right to purchase all of the Mortgage Loans and each REO Property remaining in
REMIC I as contemplated by clause (i) of the preceding paragraph by giving
written notice to the other parties hereto no later than 60 days prior to the
anticipated date of purchase; provided, however, that the Master Servicer, the
Special Servicer and any Majority Certificateholder of the Controlling Class
(other than the Depositor or any Mortgage Loan Seller) each may so elect to
purchase all of the Mortgage Loans and each REO Property remaining in REMIC I
only if the aggregate Stated Principal Balance of the Mortgage Pool at the time
of such election is less than 1.0% of the aggregate Cut-off Date Balance of all
the Mortgage Loans included in the Trust Fund as of the Closing Date. In the
event that the Master Servicer, the Special Servicer or any Majority
Certificateholder of the Controlling Class (other than the Depositor or any
Mortgage Loan Seller) elects to purchase all of the Mortgage Loans and each REO
Property remaining in REMIC I in accordance with the preceding sentence, the
Master Servicer, the Special Servicer or such Majority Certificateholder, as
applicable, shall deposit into the Distribution Account not later than the
Master Servicer Remittance Date relating to the Distribution Date on which the
final distribution on the Certificates is to occur, an amount in immediately
available funds equal to the above-described purchase price (exclusive of any
portion thereof payable to any Person other than the Certificateholders pursuant
to Section 3.05(a), which portion shall be deposited into the Certificate
Account). In addition, the Master Servicer shall transfer all amounts required
to be transferred to the Distribution Account on such Master Servicer Remittance
Date from the Certificate Account pursuant to the first paragraph of Section
3.04(e). Upon confirmation that such final deposits have been made, the Trustee
shall release or cause to be released to the purchaser or its designee, the
Mortgage Files for the remaining Mortgage Loans and shall execute all
assignments, endorsements and other instruments furnished to it by the
purchaser, as shall be necessary to effectuate transfer of the Mortgage Loans
and REO Properties remaining in REMIC I.

      Following the date on which the Class Principal Balances of the Investment
Grade Sequential Pay Certificates are reduced to zero, the Sole Pooled
Certificateholder shall have the right to exchange all of such Certificates for
all of the Mortgage Loans and each REO Property remaining in the Trust Fund by
giving written notice to all the parties hereto and each Controlling Holder no
later than 60 days prior to the anticipated date of exchange. In the event that
the Holders voluntarily participate in the exchange described above, such
exchange shall occur by means of an arms length transaction for which such
Holder shall have received, immediately upon the consummation of the exchange
described in the next sentence, consideration (which consideration may include
(among other things): cash (or its equivalent), a beneficial ownership interest
in the related Mortgage Loan in the form of a participation or any combination
thereof) for its beneficial ownership interest in the Trust Fund and its related
interest in any REMIC created hereunder equal to the value of the Certificates
held by such Holder. Further, in the event that the Sole Pooled
Certificateholder elects to exchange all of its Certificates for all of the
Mortgage Loans and each REO Property (or the pro rata portion thereof allocable
to such Holders) remaining in the Trust in accordance with the second preceding
sentence, the Sole Pooled Certificateholder, not later than the Distribution
Date on which the final distribution on the Certificates is to occur, shall
deposit in the Certificate Account an amount in immediately available funds
equal to all amounts due and owing to the Depositor, the Master Servicer, the
Special Servicer and the Trustee hereunder through the date of the liquidation
of the Trust Fund that may be withdrawn from the Certificate Account, or an
escrow account acceptable to the respective parties hereto, pursuant to Section
3.05(a) or that may be withdrawn from the Distribution Account pursuant to
Section 3.05(b), but only to the extent that such amounts are not already on
deposit in the Certificate Account. Upon confirmation that such final deposits
have been made and following the surrender of all the Certificates beneficially
owned by the Sole Pooled Certificateholder, the Trustee shall, upon receipt of a
Request for Release from the Master Servicer, release or cause to be released to
the Sole Pooled Certificateholder or any designee thereof, the Mortgage Files
for the remaining Mortgage Loans and shall execute all assignments, endorsements
and other instruments furnished to it by the Sole Pooled Certificateholder as
shall be necessary to effectuate transfer of the Mortgage Loans and REO
Properties remaining in the Trust Fund, and the Trust Fund shall be liquidated
in accordance with Section 9.02. The remaining Mortgage Loans and REO Properties
shall thereupon be deemed distributed to the Sole Pooled Certificateholder in
liquidation of the Trust Fund pursuant to Section 9.02. Solely for federal
income tax purposes, the Sole Pooled Certificateholder shall be deemed to have
purchased the assets of REMIC I for an amount equal to the remaining Class
Principal Balance of their respective Certificates, plus accrued, unpaid
interest with respect thereto, and the Trustee shall credit such amounts against
amounts distributable in respect of such Certificates and the Corresponding
REMIC I Regular Interests.

      Notice of any termination shall be given promptly by the Trustee by letter
to the Certificateholders and, if not previously notified pursuant to the
preceding paragraph, to the other parties hereto mailed (a) in the event such
notice is given in connection with a purchase by the Master Servicer or any
Majority Certificateholder of the Controlling Class (other than the Depositor or
any Mortgage Loan Seller) of all of the Mortgage Loans and each REO Property
remaining in REMIC I, not earlier than the fifteenth day and not later than the
twenty-fifth day of the month next preceding the month of the final distribution
on the Certificates or (b) otherwise during the month of such final distribution
on or before the fifth day of such month, in each case specifying (i) the
Distribution Date upon which the Trust will terminate and final payment on the
Certificates will be made, (ii) the amount of any such final payment and (iii)
that the Record Date otherwise applicable to such Distribution Date is not
applicable, payments being made only upon presentation and surrender of the
Certificates at the offices of the Certificate Registrar or such other location
therein designated.

      Upon presentation and surrender of the Certificates by the
Certificateholders on the Final Distribution Date, the Trustee shall distribute
to each Certificateholder so presenting and surrendering its Certificates such
Certificateholder's Percentage Interest of that portion of the Available
Distribution Amount and Prepayment Premiums for such date that is allocable to
payments on the relevant Class in accordance with Section 4.01(b) and Section
4.01(c)(i). Final distributions on the REMIC I Regular Interests shall be deemed
to be made on such date as provided in Section 4.01(a)(i), Section 4.01(a)(ii),
Section 4.01(b) and Section 4.01(c)(iv).

      Any funds not distributed to any Holder or Holders of Certificates of any
Class on the Final Distribution Date because of the failure of such Holder or
Holders to tender their Certificates shall, on such date, be set aside and held
uninvested in trust and credited to the account or accounts of the appropriate
non-tendering Holder or Holders. If any Certificates as to which notice has been
given pursuant to this Section 9.01 shall not have been surrendered for
cancellation within six months after the time specified in such notice, the
Trustee shall mail a second notice to the remaining non-tendering
Certificateholders to surrender their Certificates for cancellation to receive
the final distribution with respect thereto. If within one year after the second
notice all such Certificates shall not have been surrendered for cancellation,
the Trustee, directly or through an agent, shall take such reasonable steps to
contact the remaining non-tendering Certificateholders concerning the surrender
of their Certificates as it shall deem appropriate. The costs and expenses of
holding such funds in trust and of contacting such Certificateholders following
the first anniversary of the delivery of such second notice to the non-tendering
Certificateholders shall be paid out of such funds. No interest shall accrue or
be payable to any former Holder on any amount held in trust hereunder. If by the
second anniversary of the delivery of such second notice, all of the
Certificates shall not have been surrendered for cancellation, the Class R-II
Certificateholders shall be entitled to all unclaimed funds and other assets
that remain subject thereto.

      Section 9.02 Additional Termination Requirements.

      In the event the Master Servicer, the Special Servicer or a Majority
Certificateholder of the Controlling Class (other than the Depositor or any
Mortgage Loan Seller) purchases all of the Mortgage Loans and each REO Property
remaining in REMIC I as provided in Section 9.01, the Trust (and, accordingly,
REMIC I and REMIC II) shall be terminated in accordance with the following
additional requirements, unless the Master Servicer or such Majority
Certificateholder, as applicable, obtains at its own expense and delivers to the
Trustee and the REMIC Administrator an Opinion of Counsel, addressed to the
Trustee and the REMIC Administrator, to the effect that the failure of the Trust
to comply with the requirements of this Section 9.02 will not result in the
imposition of taxes on "prohibited transactions" of REMIC I or REMIC II as
defined in Section 860F of the Code or cause REMIC I or REMIC II to fail to
qualify as a REMIC at any time that any Certificates are outstanding:

            (i) the REMIC Administrator shall specify the first day in the
      90-day liquidation period in a statement attached to the final Tax Return
      for each of REMIC I and REMIC II pursuant to Treasury Regulations Section
      1.860F-1;

            (ii) during such 90-day liquidation period and at or prior to the
      time of making of the final payment on the Certificates, the Trustee shall
      sell all of the assets of REMIC I to the Master Servicer or the Majority
      Certificateholder of the Controlling Class, as applicable, for cash; and

            (iii) prior to the end of such 90-day period and at the time of the
      making of the final payment on the Certificates, the Trustee shall
      distribute or credit, or cause to be distributed or credited, to the
      Holders of the Class R-I Certificates (in the case of REMIC I) and the
      Class R-II Certificates (in the case of REMIC II) all cash on hand (other
      than cash retained to meet claims), and each of REMIC I and REMIC II shall
      terminate at that time.

<PAGE>

                                    ARTICLE X

                  ADDITIONAL REMIC AND GRANTOR TRUST PROVISIONS

      Section 10.01 REMIC Administration.

      (a) The REMIC Administrator shall elect to treat each of REMIC I and REMIC
II as a REMIC under the Code and, if necessary, under Applicable State Law. Each
such election will be made on Form 1066 or other appropriate federal or state
Tax Returns for the taxable year ending on the last day of the calendar year in
which the Certificates are issued.

      (b) The REMIC I Regular Interests are hereby designated as "regular
interests" (within the meaning of Section 860G(a)(1) of the Code), and the
residual interest in REMIC I, represented by the Class R-I Certificates, is
hereby designated as the sole Class of "residual interest" (within the meaning
of Section 860G(a)(2) of the Code), in REMIC I. The Class XW, Class A-1, Class
A-2, Class A-3, Class A-AB, Class A-4, Class A-1A, Class A-M, Class A-J, Class
B, Class C, Class D, Class E, Class F, Class G, Class H, Class J, Class K, Class
L, Class M, Class N, Class O and Class P Certificates are hereby designated as
the "regular interests" (within the meaning of Section 860G(a)(1) of the Code),
and the Class R-II Certificates are hereby designated as the sole Class of
"residual interest" (within the meaning of Section 860G(a)(2) of the Code), in
REMIC II. For the avoidance of doubt, the Class XW Certificates represent
"specified portions," within the meaning of Treasury Regulations Section
1.860G-1(a)(2), of the interest payments on the REMIC I Regular Interests
corresponding to their respective Corresponding Components. None of the REMIC
Administrator, the Master Servicer, the Special Servicer or the Trustee shall,
to the extent it is within the control of such Person, create or permit the
creation of any other "interests" in REMIC I or REMIC II.

      (c) The Closing Date is hereby designated as the "startup day" of each of
REMIC I and REMIC II within the meaning of Section 860G(a)(9) of the Code. The
"latest possible maturity date", within the meaning of Treasury Regulations
Section 1.860G-1(a)(4)(iii) of the REMIC I Regular Interests and the REMIC II
Regular Certificates is the Rated Final Distribution Date.

      (d) The REMIC Administrator is hereby designated as agent for the Tax
Matters Person of each of REMIC I and REMIC II and shall: act on behalf of the
Trust in relation to any tax matter or controversy, represent the Trust in any
administrative or judicial proceeding relating to an examination or audit by any
governmental taxing authority, request an administrative adjustment as to any
taxable year of REMIC I or REMIC II, enter into settlement agreements with any
governmental taxing agency, extend any statute of limitations relating to any
tax item of REMIC I or REMIC II, and otherwise act on behalf of each of REMIC I
and REMIC II in relation to any tax matter or controversy involving such REMIC.
By their acceptance thereof, the Holders of the Residual Certificates hereby
agree to irrevocably appoint the REMIC Administrator as their agent to perform
all of the duties of the Tax Matters Person for REMIC I and REMIC II. Subject to
Section 10.01(h), the legal expenses and costs of any action described in this
subsection (e) and any liability resulting therefrom shall be expenses, costs
and liabilities of the Trust, and the REMIC Administrator shall be entitled to
be reimbursed therefor out of any amounts on deposit in the Distribution Account
as provided by Section 3.05(b).

      (e) The REMIC Administrator shall prepare and file or cause to be prepared
and filed, and the Trustee shall sign, all of the Tax Returns in respect of each
of REMIC I and REMIC II. The expenses of preparing and filing such returns shall
be borne by the REMIC Administrator without any right of reimbursement therefor.

      (f) The REMIC Administrator shall perform or cause to be performed on
behalf of each of REMIC I and REMIC II all reporting and other tax compliance
duties that are the responsibility of each such REMIC under the Code, the REMIC
Provisions or other compliance guidance issued by the IRS or any other taxing
authority under Applicable State Law. Included among such duties, the REMIC
Administrator shall provide, or cause to be provided: (i) to any Transferor of a
Residual Certificate and the IRS, such information as is necessary for the
application of any tax relating to the transfer of a Residual Certificate to any
Person who is a Disqualified Organization; (ii) to the Certificateholders, such
information or reports as are required by the Code or the REMIC Provisions,
including, without limitation, reports relating to interest, original issue
discount and market discount or premium (using the Prepayment Assumption as
required); and (iii) with respect to REMIC II, Form 8811, or other applicable
form, to the IRS, and the name, title, address and telephone number of the
Person who will serve as the representative of REMIC II.

      (g) The REMIC Administrator shall perform its duties more specifically set
forth hereunder in a manner consistent with maintaining the status of each of
REMIC I and REMIC II as a REMIC under the REMIC Provisions (and each of the
other parties hereto shall assist it, to the extent reasonably requested by it).
The REMIC Administrator shall not knowingly take (or cause either of REMIC I or
REMIC II to take) any action or fail to take (or fail to cause to be taken) any
action within the scope of its duties more specifically set forth hereunder
that, under the REMIC Provisions, if taken or not taken, as the case may be,
could result in an Adverse REMIC Event with respect to REMIC I or REMIC II,
unless the REMIC Administrator has received an Opinion of Counsel to the effect
that the contemplated action will not result in an Adverse REMIC Event. None of
the other parties hereto shall take any action (whether or not authorized
hereunder) as to which the REMIC Administrator has advised it in writing that it
has received an Opinion of Counsel to the effect that an Adverse REMIC Event
could occur with respect to such action. In addition, prior to taking any action
with respect to REMIC I or REMIC II, or causing REMIC I or REMIC II to take any
action, that is not expressly permitted under the terms of this Agreement, each
of the other parties hereto will consult with the REMIC Administrator, in
writing, with respect to whether such action could cause an Adverse REMIC Event
to occur. None of the parties hereto shall take any such action or cause REMIC I
or REMIC II to take any such action as to which the REMIC Administrator has
advised it in writing that an Adverse REMIC Event could occur. The REMIC
Administrator may consult with counsel to make such written advice, and the cost
of same shall be borne: (i) if such action that is not expressly permitted by
this Agreement would be of a material benefit to or otherwise in the best
interests of the Certificateholders as a whole, by the Trust and shall be paid
by the Trustee at the direction of the REMIC Administrator out of amounts on
deposit in the Distribution Account; and (ii) otherwise by the party seeking to
take the action not permitted by this Agreement.

      In the event that any tax is imposed on REMIC I or REMIC II, including,
without limitation, "prohibited transactions" taxes as defined in Section
860F(a)(2) of the Code, any taxes on contributions to REMIC I or REMIC II after
the Startup Day pursuant to Section 860G(d) of the Code, and any other tax
imposed by the Code or any applicable provisions of state or local tax laws
(other than any tax permitted to be incurred by the Special Servicer pursuant to
Section 3.17(a)), such tax, together with all incidental costs and expenses
(including, without limitation, penalties and reasonable attorneys' fees), shall
be charged to and paid by: (i) the REMIC Administrator, if such tax arises out
of or results from a breach by the REMIC Administrator of any of its obligations
under this Article X; (ii) the Trustee, if such tax arises out of or results
from a breach by the Trustee of any of its obligations under this Article X;
(iii) the Master Servicer, if such tax arises out of or results from a breach by
the Master Servicer of any of its obligations under Article III or this Article
X; (iv) the Special Servicer, if such tax arises out of or results from a breach
by the Special Servicer of any of its obligations under Article III or this
Article X; or (v) the Trust in all other instances. Any tax permitted to be
incurred by the Special Servicer pursuant to Section 3.17(a) shall be charged to
and paid by the Trust. Any such amounts payable by the Trust in respect of taxes
shall be paid by the Trustee at the direction of the REMIC Administrator out of
amounts on deposit in the REMIC I Distribution Account.

      (h) The REMIC Administrator and, to the extent that records are maintained
thereby in the normal course of its business, each of the other parties hereto
shall, for federal income tax purposes, maintain books and records with respect
to each of REMIC I and REMIC II on a calendar year and on an accrual basis. Such
records with respect to REMIC I shall include, for each Distribution Date, the
applicable REMIC I Principal Balance, REMIC I Remittance Rate, and each category
of distribution on or with respect to the REMIC I Regular Interests and each
Class of REMIC I Certificates.

      (i) Following the Startup Day therefor, the Trustee shall not accept any
contributions of assets to REMIC I or REMIC II unless it shall have received an
Opinion of Counsel (at the expense of the party seeking to cause such
contribution) to the effect that the inclusion of such assets in such REMIC will
not cause: (i) such REMIC to fail to qualify as a REMIC at any time that any
Certificates are outstanding; or (ii) the imposition of any tax on such REMIC
under the REMIC Provisions or other applicable provisions of federal, state and
local law or ordinances.

      (j) None of the REMIC Administrator, the Master Servicer, the Special
Servicer or the Trustee shall consent to or, to the extent it is within the
control of such Person, permit: (i) the sale or disposition of any of the
Mortgage Loans (except in connection with (A) a breach of any representation or
warranty of a Mortgage Loan Seller regarding the related Mortgage Loans or as
otherwise provided for in Section 2.03, (B) the foreclosure, default or imminent
default of a Mortgage Loan, including but not limited to, the sale or other
disposition of a Mortgaged Property acquired by deed-in-lieu of foreclosure, (C)
the bankruptcy of REMIC I or REMIC II, or (D) the termination of the Trust
pursuant to Article IX); (ii) the sale or disposition of any investments in the
Certificate Account or the REO Account for gain; or (iii) the acquisition of any
assets for the Trust Fund (other than a Mortgaged Property acquired through
foreclosure, deed-in-lieu of foreclosure or otherwise in respect of a Defaulted
Serviced Loan and other than Permitted Investments acquired in connection with
the investment of funds in the Certificate Account or the REO Account); in any
event unless it has received an Opinion of Counsel (from and at the expense of
the party seeking to cause such sale, disposition, or acquisition) to the effect
that such sale, disposition, or acquisition will not cause: (x) REMIC I or REMIC
II to fail to qualify as a REMIC at any time that any Certificates are
outstanding; or (y) the imposition of any tax on REMIC I or REMIC II under the
REMIC Provisions or other applicable provisions of federal, state and local law
or ordinances.

      (k) Except as otherwise permitted by Section 3.17(a), none of the REMIC
Administrator, the Master Servicer, the Special Servicer or the Trustee shall
enter into any arrangement by which REMIC I or REMIC II will receive a fee or
other compensation for services or, to the extent it is within the control of
such Person, permit REMIC I or REMIC II to receive any income from assets other
than "qualified mortgages" as defined in Section 860G(a)(3) of the Code or
"permitted investments" as defined in Section 860G(a)(5) of the Code. At all
times as may be required by the Code, the REMIC Administrator shall make
reasonable efforts to ensure that substantially all of the assets of REMIC I and
REMIC II will consist of "qualified mortgages" as defined in Section 860G(a)(3)
of the Code and "permitted investments" as defined in Section 860G(a)(5) of the
Code.

      Section 10.02 Depositor, Master Servicer, Special Servicer and Trustee to
Cooperate with REMIC Administrator.

      (a) The Depositor shall provide or cause to be provided to the REMIC
Administrator, within ten days after the Closing Date, all information or data
that the REMIC Administrator reasonably determines to be relevant for tax
purposes as to the valuations and issue prices of the Certificates, including,
without limitation, the price, yield, prepayment assumption and projected cash
flow of the Certificates.

      (b) The Master Servicer, the Special Servicer and the Trustee shall each
furnish such reports, certifications and information, and access to such books
and records maintained thereby, as may relate to the Certificates or the Trust
Fund and as shall be reasonably requested by the REMIC Administrator to enable
it to perform its duties hereunder.

      Section 10.03 Fees of the REMIC Administrator.

      In the event the Trustee and the REMIC Administrator are not the same
Person, the Trustee covenants and agrees to pay to the REMIC Administrator from
time to time, and the REMIC Administrator shall be entitled to, reasonable
compensation (as set forth in a written agreement between the Trustee and the
REMIC Administrator) for all services rendered by it in the exercise and
performance of any of the obligations and duties of the REMIC Administrator
hereunder.

      Section 10.04 Use of Agents.

      The REMIC Administrator may execute any of its obligations and duties
hereunder either directly or by or through agents or attorneys-in-fact consented
to by the Trustee, which consent shall not be unreasonably withheld; provided
that the REMIC Administrator shall not be relieved of its liabilities, duties
and obligations hereunder by reason of the use of any such agent or
attorney-in-fact.

      Section 10.05 Grantor Trust Administration.

      The parties intend that the portion of the Trust Fund consisting of the
Excess Interest and the Excess Interest Distribution Account shall be treated as
a "grantor trust" under the Code, and the provisions thereof shall be
interpreted consistently with this intention. In furtherance of such intention,
the Trustee shall file or cause to be filed annually with the IRS together with
IRS Form 1041 or such other form as may be applicable and shall furnish or cause
to be furnished annually to the Holders of the Class V Certificates, their
allocable share of income with respect to Excess Interest as such amounts accrue
or are received, as the case may be, after the related Anticipated Repayment
Date. Under no circumstances shall the Trustee, the Master Servicer or the
Special Servicer have the power to vary the investment of the Class V
Certificateholders in the Grantor Trust to take advantage of variations in the
market rate of interest to improve their rate of return.

<PAGE>

                                   ARTICLE XI

               EXCHANGE ACT REPORTING AND REGULATION AB COMPLIANCE

      Section 11.01 Intent of the Parties; Reasonableness. The parties hereto
acknowledge and agree that the purpose of Article XI of this Agreement is to
facilitate compliance by the Depositor with the provisions of Regulation AB and
the related rules and regulations of the Commission. Except with respect to
Section 11.09 and Section 11.11, the Depositor or the Master Servicer shall not
exercise their right to request delivery of information or other performance
under these provisions other than reasonably and in good faith, or for purposes
other than compliance with the Securities Act, the Exchange Act, the
Sarbanes-Oxley Act and, in each case, the rules and regulations of the
Commission thereunder. The parties hereto acknowledge that interpretations of
the requirements of Regulation AB may change over time due to interpretive
guidance provided by the Commission or its staff, and agree to comply with
reasonable requests made by the Depositor or the Master Servicer in good faith
for delivery of information under these provisions on the basis of evolving
interpretations of Regulation AB. In connection with the Banc of America
Commercial Mortgage Inc., Commercial Mortgage Pass-Through Certificates, Series
2006-2, each of the Master Servicer, the Special Servicer and the Trustee shall
cooperate fully with the Depositor and the Master Servicer, as applicable, to
deliver to the Depositor or the Trustee, as applicable (including any of their
assignees or designees), any and all information in its possession necessary in
the good faith determination of the Depositor or the Trustee, as applicable, to
permit the Depositor to comply with the provisions of Regulation AB, together
with such disclosures relating to the Master Servicer, the Special Servicer and
the Trustee, as applicable, and any Additional Servicer, Subcontractor,
Servicing Function Participant or Sub-Servicer, or the servicing of the Mortgage
Loans, reasonably believed by the Depositor or the Master Servicer, as
applicable, to be necessary in order to effect such compliance. Each party to
this Agreement shall have a reasonable period of time to comply with any written
request made under this Section 11.01, but in any event, shall, upon reasonable
advance written request, provide information in sufficient time to allow the
Depositor or the Trustee, as applicable, to satisfy any related filing
requirements.

      Section 11.02 Succession; Subcontractors.(a) (a) In connection with the
succession to the Master Servicer and Special Servicer or any Sub-Servicer
contemplated by Item 1108(a)(2) of Regulation AB as servicer or Sub-Servicer
under this Agreement by any Person (i) into which the Master Servicer and
Special Servicer or such Sub-Servicer may be merged or consolidated, or (ii)
which may be appointed as a successor to the Master Servicer and Special
Servicer or any Sub-Servicer, the Master Servicer and Special Servicer shall
provide to the Depositor, at least five Business Days prior to the effective
date of such succession or appointment, (x) written notice to the Depositor of
such succession or appointment and (y) in writing and in form and substance
reasonably satisfactory to the Depositor, all information relating to such
successor reasonably requested by the Depositor in order to comply with its
reporting obligation under Item 6.02 of Form 8-K pursuant to the Exchange Act
(if such reports under the Exchange Act are required to be filed under the
Exchange Act) pursuant to Section 11.07; provided, however, that if disclosing
such information prior to such effective date would violate any applicable law
or confidentiality agreement, the Master Servicer or Special Servicer, as
applicable, shall submit such disclosure to the Depositor no later than the
second Business Day after such effective date of such succession or appointment.

      (b) Each of the Master Servicer, the Special Servicer, the Sub-Servicer
and the Trustee (each of the Master Servicer, the Special Servicer and the
Trustee and each Sub-Servicer, for purposes of this paragraph, a "Servicer") is
permitted to utilize one or more Subcontractors to perform certain of its
obligations hereunder. Such Servicer shall promptly upon request provide to the
Depositor a written description (in form and substance reasonably satisfactory
to the Depositor) of the role and function of each Subcontractor that is a
Servicing Function Participant utilized by such Servicer, specifying (i) the
identity of each Subcontractor, and (ii) which elements of the Servicing
Criteria will be addressed in assessments of compliance provided by such
Subcontractor. As a condition to the utilization by such Servicer of any
Subcontractor determined to be a Servicing Function Participant, such Servicer
shall use commercially reasonable efforts (including enforcement as such term is
described in Section 3.22(c)) to cause any such Subcontractor used by such
Servicer to comply with the provisions of Section 11.10 and Section 11.11 of
this Agreement to the same extent as if such Subcontractor were such Servicer.
Such Servicer shall use commercially reasonable efforts (including enforcement
as such term is described in Section 3.22(c)) to obtain from each such
Subcontractor and delivering to the applicable Persons any assessment of
compliance report and related accountant's attestation required to be delivered
by such Subcontractor under Section 11.10 and Section 11.11, in each case, as
and when required to be delivered.

      (c) Notwithstanding the foregoing, if a Servicer engages a Subcontractor
in connection with the performance of any of its duties under this Agreement,
such Servicer shall be responsible for determining whether such Subcontractor is
a "servicer" within the meaning of Item 1101 of Regulation AB and whether any
such affiliate or third-party vendor meets the criteria in Item 1108(a)(2)(i),
(ii) or (iii) of Regulation AB. If a Servicer determines, pursuant to the
preceding sentence, that such Subcontractor is a "servicer" within the meaning
of Item 1101 of Regulation AB and meets the criteria in Item 1108(a)(2)(i), (ii)
or (iii) of Regulation AB, then such Subcontractor shall be deemed to be an
Additional Servicer for purposes of this Agreement, the engagement of such
Additional Servicer shall not be effective unless and until notice is given to
the Depositor and the Trustee of any such Additional Servicer and Sub-Servicing
Agreement or other servicing arrangement. Such notice shall contain all
information reasonably necessary to enable the Trustee to accurately and timely
report the event under Item 6.02 of Form 8-K pursuant to the Exchange Act (if
such reports under the Exchange Act are required to be filed under the Exchange
Act) pursuant to Section 11.07.

      (d) In connection with the succession to the Trustee under this Agreement
by any Person (i) into which the Trustee may be merged or consolidated, or (ii)
which may be appointed as a successor to the Trustee, the Trustee shall notify
the Depositor, at least 10 Business Days prior to the effective date of such
succession or appointment and shall furnish to the Depositor in writing and in
form and substance reasonably satisfactory to the Depositor, all information
reasonably necessary for the Trustee to accurately and timely report, pursuant
to Section 11.07, the event under Item 6.02 of Form 8-K pursuant to the Exchange
Act (if such reports under the Exchange Act are required to be filed under the
Exchange Act); provided, however, that if disclosing such information prior to
such effective date would violate any applicable law or confidentiality
agreement, the Trustee shall submit such disclosure to the Depositor no later
than the second Business Day after such effective date of such succession or
appointment.

      Section 11.03 Filing Obligations. (a) The Master Servicer, the Special
Servicer and the Trustee shall reasonably cooperate with the Depositor in
connection with the satisfaction of the Trust's reporting requirements under the
Exchange Act. The Trustee shall prepare for execution by the Depositor any Forms
8-K, 10-D and 10-K required by the Exchange Act in order to permit the timely
filing thereof, and the Trustee shall file (via the Commission's Electronic Data
Gathering and Retrieval System) such Forms executed by the Depositor.

      (b) In the event that the Trustee is unable to timely file with the
Commission all or any required portion of any Form 8-K, 10-D or 10-K required to
be filed by this Agreement because required disclosure information was either
not delivered to it or delivered to it after the delivery deadlines set forth in
this Agreement, the Trustee will promptly notify the Depositor and whichever
party hereto failed to deliver, or delivered after any applicable deadline, any
required disclosure information. In the case of Forms 10-D and 10-K, the
Depositor, the Master Servicer and the Trustee will thereupon cooperate to
prepare and file a Form 12b-25 and a Form 10-D/A or Form 10-K/A, as applicable,
pursuant to Rule 12b-25 of the Exchange Act. In the case of Form 8-K, the
Trustee will, upon receipt of all required Form 8-K Disclosure Information,
include such disclosure information on the next Form 10-D. In the event that any
previously filed Form 8-K, Form 10-D or Form 10-K needs to be amended, the
Trustee will notify the Depositor, and the parties hereto will cooperate to
prepare any necessary Form 8-K/A, Form 10-D/A or Form 10-K/A; provided, however,
that the Trustee will not be required to notify the Depositor or any other party
hereto in advance of amending Form 10-D where such amendment is solely for the
purpose of re-stating the Distribution Date Statement. Any Form 15, Form 12b-25
or any amendment to Form 8-K, Form 10-D or Form 10-K shall be signed by an
officer of the Depositor. The parties hereto acknowledge that the performance by
the Trustee of its duties under Section 11.08 related to the timely preparation
and filing of Form 15, a Form 12b-25 or any amendment to Form 8-K, Form 10-D or
Form 10-K is contingent upon such parties observing all applicable deadlines in
the performance of their duties under Sections 11.03, 11.04, 11.05, 11.07,
11.08, 11.09, 11.10 and 11.11. The Trustee shall have no liability for any loss,
expense, damage, claim arising out of or with respect to any failure to properly
prepare, arrange for execution and/or timely file any such Form 15, Form 12b-25
or any amendments to Forms 8-K, Form 10-D or Form 10-K, where such failure
results from the Trustee's inability or failure to receive, on a timely basis,
any information from any other party hereto needed to prepare, arrange for
execution or file such Form 15, Form 12b-25 or any amendments to Forms 8-K, Form
10-D or Form 10-K, not resulting from its own negligence, bad faith or willful
misconduct.

      Section 11.04 Form 10-D Filings. (a) Within 15 days after each
Distribution Date (subject to permitted extensions under the Exchange Act), the
Trustee shall prepare and file on behalf of the Trust any Form 10-D required by
the Exchange Act, in form and substance as required by the Exchange Act. The
Trustee shall file each Form 10-D with a copy of the related Statement to
Certificateholders attached thereto. Any disclosure in addition to the Statement
to Certificateholders that is required to be included on Form 10-D ("Additional
Form 10-D Disclosure") shall pursuant to the paragraph immediately below, be
reported by the parties set forth on Schedule IX to the Depositor and the
Trustee and approved by the Depositor, and the Trustee will have no duty or
liability for any failure hereunder to determine or prepare any Additional Form
10-D Disclosure absent such reporting, direction and approval; provided,
however, that the Trustee shall promptly notify the Depositor of any such report
that it receives.

      For so long as the Trust is subject to the reporting requirements of the
Exchange Act, as set forth on Schedule IX hereto, within 5 calendar days after
the related Distribution Date, (i) the parties listed on Schedule IX hereto
shall be required to provide to the Trustee and the Depositor, to the extent a
responsible officer has actual knowledge thereof, in EDGAR-compatible format, or
in such other format as otherwise agreed upon by the Trustee and the Depositor
and such party, the form and substance of the Additional Form 10-D Disclosure
described on Schedule IX hereto applicable to such party, and (ii) the parties
listed on Schedule IX hereto shall include with such Additional Form 10-D
Disclosure, an Additional Disclosure Notification in the form attached hereto as
Schedule XII. The Trustee has no duty under this Agreement to monitor or enforce
the performance by the parties listed on Schedule IX hereto of their duties
under this paragraph or proactively solicit or procure from such parties any
Additional Form 10-D Disclosure information. The Depositor will be responsible
for any reasonable fees assessed and any expenses incurred by the Trustee in
connection with including any Additional Form 10-D Disclosure on Form 10-D
pursuant to this paragraph.

      (b) After preparing the Form 10-D, the Trustee shall forward
electronically a copy of the Form 10-D to the Depositor for review and approval.
No later than 2 Business Days prior to the 15th calendar day after the related
Distribution Date, a duly authorized representative of the Depositor shall sign
the Form 10-D and return an electronic or fax copy of such signed Form 10-D
(with an original executed hard copy to follow by overnight mail) to the
Trustee. If a Form 10-D cannot be filed on time or if a previously filed Form
10-D needs to be amended, the Trustee will follow the procedures set forth in
Section 11.03(b). Promptly after filing with the Commission, the Trustee will
make available on its internet website a final executed copy of each Form 10-D.
The signing party at the Depositor can be contacted at: Stephen L. Hogue, Banc
of America Securities LLC, 214 North Tryon Street, Charlotte, North Carolina
28255, Telephone No. (704) 387-2040, and Paul E. Kurzeja, Esq., Bank of America
Corporation, 100 North Tryon Street, Charlotte, North Carolina 28255, Telephone
No. (704) 386-8509. The parties hereto acknowledge that the performance by the
Trustee of its duties under this Section 11.04(b) related to the timely
preparation and filing of Form 10-D is contingent upon such parties observing
all applicable deadlines in the performance of their duties under this Section
11.04. The Trustee shall have no liability for any loss, expense, damage, or
claim arising out of or with respect to any failure to properly prepare, arrange
for execution and/or timely file such Form 10-D, where such failure results from
the Trustee's inability or failure to receive, on a timely basis, any
information from any party hereto needed to prepare, arrange for execution or
file such Form 10-D, not resulting from its own negligence, bad faith or willful
misconduct.

      Section 11.05 Form 10-K Filings. (a) Within 90 days after the end of each
fiscal year of the Trust or such earlier date as may be required by the Exchange
Act (the "10-K Filing Deadline"), commencing in March 2007, the Trustee shall
prepare and file on behalf of the Trust a Form 10-K, in form and substance as
required by the Exchange Act. Each such Form 10-K shall include the following
items, in each case to the extent they have been delivered to the Trustee within
the applicable time frames set forth in this Agreement:

            (i) an annual compliance statement for the Master Servicer, the
      Special Servicer, each Additional Servicer and the Trustee, as described
      under Section 11.09;

            (ii) (A) the annual reports on assessment of compliance with
      servicing criteria for the Trustee, the Master Servicer, the Special
      Servicer, any Additional Servicer, each Sub-Servicer engaged by the Master
      Servicer or the Special Servicer and each Servicing Function Participant
      utilized by the Master Servicer, the Special Servicer or the Trustee, as
      described under Section 11.10, and (B) if any such report on assessment of
      compliance with servicing criteria described under Section 11.10
      identifies any material instance of noncompliance, disclosure identifying
      such instance of noncompliance, or if such report on assessment of
      compliance with servicing criteria described under Section 11.10 is not
      included as an exhibit to such Form 10-K, disclosure that such report is
      not included and an explanation why such report is not included;

            (iii) (A) the registered public accounting firm attestation report
      for the Trustee, the Master Servicer, the Special Servicer, any Additional
      Servicer, each Sub-Servicer engaged by the Master Servicer and the Special
      Servicer and each Servicing Function Participant utilized by the Master
      Servicer, the Special Servicer or the Trustee, as described under Section
      11.11, and (B) if any registered public accounting firm attestation report
      described under Section 11.11 identifies any material instance of
      noncompliance, disclosure identifying such instance of noncompliance, or
      if any such registered public accounting firm attestation report is not
      included as an exhibit to such Form 10-K, disclosure that such report is
      not included and an explanation why such report is not included; and

            (iv) a certification in the form attached hereto as Exhibit K, with
      such changes as may be necessary or appropriate as a result of changes
      promulgated by the Commission (the "Sarbanes-Oxley Certification"), which
      shall, except as described below, be signed by the senior officer of the
      Depositor in charge of securitization.

            Any disclosure or information in addition to (i) through (iv) above
that is required to be included on Form 10-K ("Additional Form 10-K Disclosure")
shall, pursuant to the paragraph immediately below, be reported by the parties
set forth on Schedule X to the Depositor and the Trustee, and the Trustee will
have no duty or liability for any failure hereunder to determine or prepare any
Additional Form 10-K Disclosure absent such reporting, direction and approval;
provided, however, that the Trustee shall promptly notify the Depositor of any
Additional Form 10-K Disclosure that it receives.

      For so long as the Trust is subject to the reporting requirements of the
Exchange Act, no later than March 15, commencing in March 2007 (i) the parties
listed on Schedule X hereto shall be required to provide to the Trustee and the
Depositor, to the extent that a responsible officer has actual knowledge
thereof, in EDGAR-compatible format, or in such other format as otherwise agreed
upon by the Trustee and the Depositor and such party, the form and substance of
the Additional Form 10-K Disclosure described on Schedule X hereto applicable to
such party, (ii) the parties listed on Schedule X hereto shall include with such
Additional Form 10-K Disclosure, an Additional Disclosure Notification in the
form attached hereto as Schedule XII, and (iii) the Trustee shall, at any time
prior to filing the related Form 10-K, provide prompt notice to the Depositor to
the extent that the Trustee is notified of an event reportable on Form 10-K for
which it has not received the necessary Additional Form 10-K Disclosure from the
applicable party. The Trustee has no duty under this Agreement to monitor or
enforce the performance by the parties listed on Schedule X hereto of their
duties under this paragraph or proactively solicit or procure from such parties
any Additional Form 10-K Disclosure information. The Depositor will be
responsible for any reasonable fees assessed and expenses incurred by the
Trustee in connection with including any Additional Form 10-K Disclosure on Form
10-K pursuant to this paragraph.

      (b) After preparing the Form 10-K, the Trustee shall forward
electronically a copy of the Form 10-K to the Depositor for review and approval
no later than five Business Days prior to the 10-K Filing Deadline. No later
than 5:00 p.m. Eastern Time on the fourth Business Day prior to the 10-K Filing
Deadline, a duly authorized representative of the Depositor shall sign the Form
10-K and return an electronic or fax copy of such signed Form 10-K (with an
original executed hard copy to follow by overnight mail) to the Trustee. If a
Form 10-K cannot be filed on time or if a previously filed Form 10-K needs to be
amended, the Trustee will follow the procedures set forth in this Section 11.05.
Promptly after filing with the Commission, the Trustee will make available on
its internet website a final executed copy of each Form 10-K. The signing party
at the Depositor can be contacted at: Stephen L. Hogue, Banc of America
Securities LLC, 214 North Tryon Street, Charlotte, North Carolina 28255,
Telephone No. (704) 387-2040, and Paul E. Kurzeja, Esq., Bank of America
Corporation, 100 North Tryon Street, Charlotte, North Carolina 28255, Telephone
No. (704) 386-8509. The parties hereto acknowledge that the performance by the
Trustee of its duties under this Section 11.05 related to the timely preparation
and filing of Form 10-K is contingent upon such parties observing all applicable
deadlines in the performance of their duties under this Section 11.05. The
Trustee shall have no liability for any loss, expense, damage, claim arising out
of or with respect to any failure to properly prepare, arrange for execution
and/or timely file such Form 10-K, where such failure results from the Trustee's
inability or failure to receive, on a timely basis, any information from any
party hereto needed to prepare, arrange for execution or file such Form 10-K,
not resulting from its own negligence, bad faith or willful misconduct.

      Section 11.06 Sarbanes-Oxley Certification. Each Form 10-K shall include a
Sarbanes-Oxley Certification in the form attached as Exhibit K required to be
included therewith pursuant to the Sarbanes-Oxley Act. The Master Servicer, the
Special Servicer, any Additional Servicer and the Trustee shall, and the Master
Servicer, the Special Servicer and the Trustee shall use commercially reasonable
efforts (including enforcement as such term is described in Section 3.22(c)) to
cause each Servicing Function Participant with which it has entered into a
servicing relationship with respect to the Mortgage Loans to, provide to the
Person who signs the Sarbanes-Oxley Certification (the "Certifying Person") a
certification in the form attached hereto as Exhibit L, on which the Certifying
Person, the entity for which the Certifying Person acts as an officer (if the
Certifying Person is an individual), and such entity's officers, directors and
Affiliates (collectively with the Certifying Person, "Certification Parties")
can reasonably rely. With respect to any Non-Serviced Mortgage Loan serviced
under a Non-Serviced Mortgage Loan Pooling Agreement, the Master Servicer will
use its reasonable efforts to procure a Sarbanes-Oxley back-up certification
from the Non-Serviced Mortgage Loan Master Servicer, Non-Serviced Mortgage Loan
Special Servicer and the Non-Serviced Mortgage Loan Trustee in form and
substance similar to a Performance Certification. The senior officer in charge
of the securitization for the Depositor shall serve as the Certifying Person. In
addition, the Master Servicer, the Special Servicer, any Additional Servicer,
the Trustee and any Servicing Function Participant shall execute a reasonable
reliance certificate to enable the Certification Parties to rely upon each (i)
annual compliance statement provided pursuant to Section 11.09, (ii) annual
report on assessment of compliance with servicing criteria provided pursuant to
Section 11.10 and (iii) accountant's report provided pursuant to Section 11.11,
and shall include a certification that each such annual compliance statement or
report discloses any deficiencies or defaults described to the registered public
accountants of the Master Servicer, the Special Servicer, any Additional
Servicer, the Trustee or any Servicing Function Participant to enable such
accountants to render the certificates provided for in Section 11.11. In the
event the Master Servicer, the Special Servicer, any Additional Servicer, the
Trustee or any Servicing Function Participant is terminated or resigns pursuant
to the terms of this Agreement, or any applicable sub-servicing agreement or
primary servicing agreement, as the case may be, such party shall provide a
certification to the Certifying Person pursuant to this Section 11.06 with
respect to the period of time it was subject to this Agreement or the applicable
sub-servicing or primary servicing agreement, as the case may be.

      Section 11.07 Form 8-K Filings. Within four (4) Business Days after the
occurrence of an event requiring disclosure on Form 8-K (each such event, a
"Reportable Event"), and if requested by the Depositor, the Trustee shall
prepare and file on behalf of the Trust any Form 8-K, as required by the
Exchange Act, provided that the Depositor shall file the initial Form 8-K in
connection with the issuance of the Certificates. Any disclosure or information
related to a Reportable Event or that is otherwise required to be included on
Form 8-K ("Form 8-K Disclosure Information") shall, pursuant to the paragraph
immediately below, be reported by the parties set forth on Schedule XI hereto to
the Depositor and the Trustee and approved by the Depositor, and the Trustee
will have no duty or liability for any failure hereunder to determine or prepare
any Form 8-K Disclosure Information absent such reporting, direction and
approval; provided, however, that the Trustee shall promptly notify the
Depositor of any Form 8-K Disclosure that it receives.

      As set forth on Schedule XI hereto, for so long as the Trust is subject to
the Exchange Act reporting requirements, no later than the end of business on
the second Business Day after the occurrence of a Reportable Event (i) the
parties listed on Schedule XI hereto shall be required to provide to the Trustee
and the Depositor, to the extent a responsible officer has actual knowledge
thereof, in EDGAR-compatible format, or in such other format as otherwise agreed
upon by the Trustee and the Depositor and such party, the form and substance of
the Form 8-K Disclosure Information described on Schedule XI hereto applicable
to such party, and (ii) the parties listed on Schedule XI hereto shall include
with such additional Form 8-K Disclosure ("Additional Form 8-K Disclosure"), an
Additional Disclosure Notification in the form attached hereto as Schedule XII.
The Trustee has no duty under this Agreement to monitor or enforce the
performance by the parties listed on Schedule XI hereto of their duties under
this paragraph or proactively solicit or procure from such parties any Form 8-K
Disclosure Information. The Depositor will be responsible for any reasonable
fees assessed and out-of-pocket expenses incurred by the Trustee in connection
with including any Form 8-K Disclosure Information on Form 8-K pursuant to this
paragraph.

      After preparing the Form 8-K, the Trustee shall forward electronically a
copy of the Form 8-K to the Depositor for review and approval no later than the
third Business Day after the Reportable Event (but in no event earlier than 24
hours after having received the Form 8-K Disclosure Information pursuant to the
immediately preceding paragraph). No later than the close of business on the
third Business Day after the Reportable Event, the Depositor shall notify the
Trustee of any changes to or approval of such Form 8-K. No later than Noon (New
York City time) on the fourth Business Day after the Reportable Event, a duly
authorized representative of the Depositor shall sign the Form 8-K and return an
electronic or fax copy of such signed Form 8-K (with an original executed hard
copy to follow by overnight mail) to the Trustee. If a Form 8-K cannot be filed
on time or if a previously filed Form 8-K needs to be amended, the Trustee will
follow the procedures set forth in this Section 11.07. Promptly after filing
with the Commission, the Trustee will, make available on its internet website a
final executed copy of each Form 8-K prepared by the Trustee. The signing party
at the Depositor can be contacted at Stephen L. Hogue, Banc of America
Securities LLC, 214 North Tryon Street, Charlotte, North Carolina 28255,
Telephone No. (704) 387-2040, and Paul E. Kurzeja, Esq., Bank of America
Corporation, 100 North Tryon Street, Charlotte, North Carolina 28255, Telephone
No. (704) 386-8509. The parties hereto acknowledge that the performance by the
Trustee of its duties under this Section 11.07 related to the timely preparation
and filing of Form 8-K is contingent upon such parties observing all applicable
deadlines in the performance of their duties under this Section 11.07. The
Trustee shall have no liability for any loss, expense, damage, claim arising out
of or with respect to any failure to properly prepare, arrange for execution
and/or timely file such Form 8-K, where such failure results from the Trustee's
inability or failure to receive, on a timely basis, any information from any
party hereto needed to prepare, arrange for execution or file such Form 8-K, not
resulting from its own negligence, bad faith or willful misconduct.

      Section 11.08 Form 15 Filing. On or prior to January 30 of the first year
in which the Trustee is able to do so under applicable law, the Trustee shall
file a Form 15 Suspension Notification relating to the automatic suspension of
reporting in respect of the Trust under the Exchange Act. At any time after the
filing of a Form 15 Suspension Notification, if the number of Certificateholders
of record exceeds the number set forth in Section 15(d) of the Exchange Act that
would cause the Trust to again become subject to the reporting requirements of
the Exchange Act, the Trustee shall recommence preparing and filing reports on
Forms 10-D, 10-K and 8-K as required pursuant to Section 11.04, Section 11.05
and Section 11.07.

      With respect to any reporting period occurring after the filing of Form
15, the obligations of the parties to this Agreement under Sections 11.01,
11.02, 11.04, 11.05, 11.06 and 11.07 shall be suspended for so long as the Trust
is not subject to the reporting requirements of the Exchange Act. The Trustee
shall promptly notify (which notice, notwithstanding the provisions of Section
12.05, may be sent by facsimile, telephone or by email and which shall include
the identity of those Reporting Servicers who did not deliver such information)
the Depositor and each Reporting Servicer that failed to deliver such
information, if all, or any portion of, any required disclosure information to
be included in any Form 8-K, Form 10-D or Form 10-K required to be filed
pursuant to this Agreement is not delivered to it within the delivery deadlines
set forth in this Agreement (including annual compliance statements pursuant to
Section 11.09, annual reports on assessment of compliance with servicing
criteria pursuant to Section 11.10 and attestation reports pursuant to Section
11.11) (exclusive of any grace or cure periods), but only to the extent the
Trustee has actual knowledge that the Servicer or Special Servicer required to
provide such disclosure information has not done so. Such notice does not affect
the tolling of any grace or cure period with respect to the deadline of any
obligation of any party contained in this Article XI.

      Section 11.09 Annual Compliance Statements. The Trustee, the Master
Servicer and the Special Servicer shall, and the Master Servicer or Special
Servicer shall use commercially reasonable efforts (including enforcement as
such term is described in Section 3.22(c)) to cause each Additional Servicer
with which it has entered into a servicing relationship with respect to the
Mortgage Loans to, deliver to the Depositor and the Trustee on or before March
15 of each year, commencing in March 2007, an Officer's Certificate stating, as
to the Certifying Servicer, that (A) a review of such Certifying Servicer's
activities during the preceding calendar year or portion thereof and of such
Certifying Servicer's performance under this Agreement, or the applicable
sub-servicing agreement or primary servicing agreement in the case of an
Additional Servicer, has been made under such officer's supervision and (B) to
the best of such officer's knowledge, based on such review, such Certifying
Servicer has fulfilled all its obligations under this Agreement, or the
applicable sub-servicing agreement or primary servicing agreement in the case of
an Additional Servicer, in all material respects throughout such year or portion
thereof, or, if there has been a failure to fulfill any such obligation in any
material respect, specifying each such failure known to such officer and the
nature and status thereof. Promptly after receipt of each such Officer's
Certificate, the Depositor shall review each such Officer's Certificate and, if
applicable, consult with such Certifying Servicer as to the nature of any
failures by such Certifying Servicer, or any related Additional Servicer with
which such Certifying Servicer has entered into a servicing relationship with
respect to the Mortgage Loans in the fulfillment of any of such Certifying
Servicer's obligations hereunder or under the applicable Sub-Servicing Agreement
or primary servicing agreement. The obligations of each Certifying Servicer
under this Section apply to the extent that such Certifying Servicer serviced a
Mortgage Loan during the applicable period, whether or not the Master Servicer,
the Special Servicer or Additional Servicer is acting as a Certifying Servicer
at the time such Officer's Certificate is required to be delivered. No
Certifying Servicer shall be required to cause the delivery of any such
Officer's Certificate until April 15 in any given year so long as it has
received written confirmation from the Depositor that a Report on Form 10-K is
not required to be filed in respect of the Trust for the preceding calendar
year.

      Section 11.10 Annual Reports on Assessment of Compliance with Servicing
Criteria. (a) On or before March 15 of each year, commencing in March 2007, the
Master Servicer, the Special Servicer and the Trustee, each at its own expense,
shall furnish, and each such party shall use commercially reasonable efforts
(including enforcement as such term is described in Section 3.22(c)) to cause
each Servicing Function Participant with which it has entered into a servicing
relationship with respect to the Mortgage Loans to furnish (each, a "Reporting
Servicer"), to the Trustee and the Depositor, a report on an assessment of
compliance with the Relevant Servicing Criteria that contains (A) a statement by
such Reporting Servicer of its responsibility for assessing compliance with the
Relevant Servicing Criteria, (B) a statement that such Reporting Servicer used
the Relevant Servicing Criteria as the basis for such report, (C) such Reporting
Servicer's assessment of compliance with the Relevant Servicing Criteria as of
and for the period ending the end of the fiscal year covered by the Form 10-K
required to be filed pursuant to Section 11.05, including, if there has been any
material instance of noncompliance with the Relevant Servicing Criteria, a
discussion of each such failure and the nature and status thereof, and (D) a
statement that a registered public accounting firm has issued an attestation
report on such Reporting Servicer's assessment of compliance with the Relevant
Servicing Criteria as of and for such period.

            Each such report shall be addressed to the Depositor and signed by
an authorized officer of the applicable company, and shall address each of the
Relevant Servicing Criteria specified in Schedule VIII hereto delivered to the
Depositor on the Closing Date. Promptly after receipt of each such report, (i)
the Depositor shall review each such report and, if applicable, consult with
each Reporting Servicer as to the nature of any material instance of
noncompliance with the Servicing Criteria applicable to it, and (ii) the Trustee
shall confirm that the assessments, taken individually address the Relevant
Servicing Criteria and notify the Depositor of any exceptions. No Reporting
Servicer shall be required to cause the delivery of any such assessments until
April 15 in any given year so long as it has received written confirmation from
the Depositor that a Report on Form 10-K is not required to be filed in respect
of the Trust for the preceding calendar year.

      (b) On the Closing Date, the Master Servicer, the Special Servicer and the
Trustee shall furnish to the Depositor and the Trustee the Relevant Servicing
Criteria applicable to it, in the form of Schedule VIII hereto appropriately
completed (indicating thereon any Servicing Function Participant that the Master
Servicer, Special Servicer or Trustee has entered into a servicing
relationship).

      (c) No later than the end of each fiscal year for the Trust, the Master
Servicer and the Special Servicer shall notify the Trustee and the Depositor and
the other parties to this Agreement as to the name of each Servicing Function
Participant utilized by it, and the Trustee shall notify the Depositor as to the
name of each Servicing Function Participant utilized by it, and each such notice
will specify what specific Servicing Criteria will be addressed in the report on
assessment of compliance prepared by such Servicing Function Participant. When
the Master Servicer, the Special Servicer and the Trustee submit their
assessments pursuant to Section 11.10(a), the Master Servicer, the Special
Servicer and the Trustee, as applicable, will also at such time use commercially
reasonable efforts to include the assessment (and related attestation pursuant
to Section 11.11) of each Servicing Function Participant engaged by it.

      Section 11.11 Annual Independent Public Accountants' Servicing Report. On
or before March 15 of each year, commencing in March 2007, the Master Servicer,
the Special Servicer and the Trustee, each at its own expense, shall cause, and
the Master Servicer, the Special Servicer and the Trustee shall use commercially
reasonable efforts (including enforcement as such term is described in Section
3.22(c)) to cause each Servicing Function Participant with which it has entered
into a servicing relationship with respect to the Mortgage Loans to cause, a
registered public accounting firm (which may also render other services to the
Master Servicer, the Special Servicer, the Trustee or the applicable Servicing
Function Participant, as the case may be) and that is a member of the American
Institute of Certified Public Accountants to furnish a report to the Trustee and
the Depositor to the effect that (i) it has obtained a representation regarding
certain matters from the management of such Reporting Servicer, which includes
an assertion that such Reporting Servicer has complied with the Relevant
Servicing Criteria in all material respects and (ii) on the basis of an
examination conducted by such firm in accordance with standards for attestation
engagements issued or adopted by the Public Company Accounting Oversight Board,
it is issuing an opinion as to whether such Reporting Servicer's assessment of
compliance with the Relevant Servicing Criteria was fairly stated in all
material respects. In the event that an overall opinion cannot be expressed,
such registered public accounting firm shall state in such report why it was
unable to express such an opinion. Each such related accountant's attestation
report shall be made in accordance with Rules 1-02(a)(3) and 2-02(g) of
Regulation S-X under the Securities Act and the Exchange Act. Such report must
be available for general use and not contain restricted use language.

      Promptly after receipt of such report from the Master Servicer, the
Special Servicer, the Trustee or any Servicing Function Participant, (i) the
Depositor shall review the report and, if applicable, consult with the Master
Servicer, the Special Servicer or the Trustee as to the nature of any defaults
by the Master Servicer, the Special Servicer, the Trustee or any Servicing
Function Participant with which it has entered into a servicing relationship
with respect to the Mortgage Loans, as the case may be, in the fulfillment of
any of the Master Servicer's, the Special Servicer's, the Trustee's, the
Trustee's or the applicable Servicing Function Participants' obligations
hereunder or under the applicable sub-servicing or primary servicing agreement,
and (ii) the Trustee shall confirm that each accountants' attestation report
submitted pursuant to this Section relates to an assessment of compliance
meeting the requirements of Section 11.10 and notify the Depositor of any
exceptions.

      Section 11.12 Indemnification. Each of the Master Servicer, the Special
Servicer and the Trustee shall indemnify and hold harmless each Certification
Party from and against any claims, losses, damages, penalties, fines,
forfeitures, legal fees and expenses and related costs, judgments and other
costs and expenses incurred by such Certification Party arising out of an actual
breach by the Master Servicer, the Special Servicer or the Trustee, as the case
may be, of its obligations under this Article XI.

      The Master Servicer and the Special Servicer shall use commercially
reasonable efforts (including enforcement as such term is described in Section
3.22(c)) to cause each Additional Servicer and each Servicing Function
Participant with which, in each case, it has entered into a servicing
relationship with respect to the Mortgage Loans to indemnify and hold harmless
each Certification Party from and against any and all claims, losses, damages,
penalties, fines, forfeitures, legal fees and expenses and related costs,
judgments and any other costs, fees and expenses incurred by such Certification
Party arising out of (i) a breach of its obligations to provide any of the
annual compliance statements or annual assessment of compliance reports or
attestation reports pursuant to the applicable sub-servicing or primary
servicing agreement or (ii) any failure by a Servicer (as defined in Section
11.02(b)) to identify a Servicing Function Participant pursuant to Section
11.02(c).

      If the indemnification provided for herein is unavailable or insufficient
to hold harmless any Certification Party, then the Master Servicer, the Special
Servicer, the Trustee, any Additional Servicer or other Servicing Function
Participant (the "Performing Party") shall contribute to the amount paid or
payable to the Certification Party as a result of the losses, claims, damages or
liabilities of the Certification Party in such proportion as is appropriate to
reflect the relative fault of the Certification Party on the one hand and the
Performing Party on the other in connection with a breach of the Performing
Party's obligations pursuant to Sections 11.06, 11.09, 11.10 or 11.11 (or breach
of its obligations under the applicable sub-servicing or primary servicing
agreement to provide any of the annual compliance statements or annual servicing
criteria compliance reports or attestation reports). The Master Servicer and
Special Servicer shall use commercially reasonable efforts (including
enforcement as such term is described in Section 3.22(c)) to cause each
Additional Servicer or Servicing Function Participant, in each case, with which
it has entered into a servicing relationship with respect to the Mortgage Loans
to agree to the foregoing indemnification and contribution obligations. This
Section 11.12 shall survive the termination of this Agreement or the earlier
resignation or removal of the Master Servicer or the Special Servicer.

      Section 11.13 Signatures; Article XI Notices. Each Form 8-K report and
Form 10-D report shall be signed by the Depositor. The Depositor shall provide
its signature to the Trustee by electronic or fax transmission (with hard copy
to follow by overnight mail) no later than the 13th calendar day following the
related Distribution Date for Form 10-D, and not later than noon on the date of
filing for Form 8-K (provided, that in each case the Trustee shall not file the
related form until the Depositor has given its approval thereof). If a Form 8-K
or Form 10-D cannot be filed on time or if a previously filed Form 8-K or Form
10-D needs to be amended, the Trustee will follow the procedures set forth in
this Article XI.

      With respect to any notice required to be delivered by the Trustee to the
Depositor pursuant to Article XI, the Trustee may deliver such notice,
notwithstanding any contrary provision in Section 12.05 via facsimile to (704)
386-1094, via email to stephen.l.hogue@bankofamerica.com or telephonically by
calling Stephen Hogue at (704) 387-2040.

      Section 11.14 Amendments. This Article XI (other than with respect to the
reports and certifications set forth in Section 11.09 and Section 11.11) may be
amended by the parties hereto pursuant to Section 12.01 for purposes of
complying with Regulation AB and the Sarbanes-Oxley Act and/or to conform to
standards developed within the commercial mortgage-backed securities market
without any Opinions of Counsel, Officer's Certificates, Rating Agency
Confirmations or the consent of any Certificateholder, notwithstanding anything
to the contrary contained in this Agreement.

      Section 11.15 Non-Serviced Mortgage Loans. With respect to any
Non-Serviced Mortgage Loan serviced under a Non-Serviced Mortgage Loan Pooling
Agreement, the Reporting Servicer will use commercially reasonable efforts to
procure a Sarbanes-Oxley back-up certification from the Non-Serviced Mortgage
Loan Master Servicer, the Non-Serviced Mortgage Loan Special Servicer and the
Non-Serviced Mortgage Loan Trustee in form and substance similar to a
Performance Certification.

<PAGE>

                                  ARTICLE XII

                            MISCELLANEOUS PROVISIONS

      Section 12.01 Amendment.

      (a) This Agreement may be amended from time to time by the mutual
agreement of the parties hereto, without the consent of any of the
Certificateholders or any Companion Loan Holder, (i) to cure any ambiguity, (ii)
to correct, modify or supplement any provision herein that may be defective or
may be inconsistent with any other provision herein, (iii) to add any other
provisions with respect to matters or questions arising hereunder that shall not
be inconsistent with the provisions hereof, (iv) to relax or eliminate any
requirement hereunder imposed by the REMIC Provisions if the REMIC Provisions
are amended or clarified such that any such requirement may be relaxed or
eliminated; (v) if such amendment, as evidenced by an Opinion of Counsel
delivered to the Trustee and the REMIC Administrator, is reasonably necessary to
comply with any requirements imposed by the Code or any successor or amendatory
statute or any temporary or final regulation, revenue ruling, revenue procedure
or other written official announcement or interpretation relating to federal
income tax laws or any such proposed action that, if made effective, would apply
retroactively to REMIC I or REMIC II at least from the effective date of such
amendment, or would be necessary to avoid the occurrence of a prohibited
transaction or to reduce the incidence of any tax that would arise from any
actions taken with respect to the operation of REMIC I or REMIC II; (vi) to
modify, add to or eliminate any provisions of Section 5.02(d)(i), (ii) and
(iii); or (vii) for any other purpose; provided that such amendment (other than
any amendment for the specific purposes described in clauses (v) and (vi) above)
shall not, as evidenced by an Opinion of Counsel obtained by or delivered to the
Trustee, adversely affect in any material respect the interests of any
Certificateholder without such Certificateholder's written consent; provided
further that such amendment shall not adversely affect in any material respect
the rights and obligations of the related Mortgage Loan Seller without such
Mortgage Loan Seller's written consent; provided further that such amendment
shall not adversely affect in any material respect the rights and obligations of
a Companion Loan Holder without such Companion Loan Holder's written consent;
and provided further that such amendment (other than any amendment for any of
the specific purposes described in clauses (i) through (vi) above) shall not
result in a downgrade, qualification (if applicable) or withdrawal of any rating
then assigned to any Class of Certificates by any Rating Agency (as evidenced by
written confirmation to such effect from each Rating Agency obtained by or
delivered to the Trustee).

      (b) This Agreement may also be amended from time to time by the mutual
agreement of the parties hereto, with the consent of the Holders of Certificates
entitled to at least 51% of the Voting Rights allocated to the affected Classes,
for the purpose of adding any provisions to or changing in any manner or
eliminating any of the provisions of this Agreement or of modifying in any
manner the rights of the Holders of Certificates or the Companion Loan Holders;
provided, however, that no such amendment shall (i) reduce in any manner the
amount of, or delay the timing of, payments received or advanced on the Mortgage
Loans and any REO Properties that are required to be distributed on any
Certificate without the written consent of the Holder of such Certificate, (ii)
adversely affect in any material respect the interests of the Holders of any
Class of Certificates in a manner other than as described in clause (b)(i)
without the written consent of the Holders of all Certificates of such Class,
(iii) change the definition of the Servicing Standard, without the written
consent of the Holders of all Certificates outstanding, or (iv) modify the
provisions of this Section 12.01 without the written consent of the Holders of
all Certificates then outstanding. Notwithstanding any other provision of this
Agreement, for purposes of the giving or withholding of consents pursuant to
this Section 12.01, Certificates registered in the name of the Depositor, the
Master Servicer, the Special Servicer or any of their respective Affiliates
shall be entitled to the same Voting Rights with respect to matters described
above as they would if any other Person held such Certificates. For purposes of
this Section 12.01(b), a Class of Certificates is an "affected Class" if and
only if it would, as the result of any such amendment, experience any of the
effects described in clauses (i), (ii) and (iii) of this Section 12.01(b).

      (c) At the direction of the Holders of Certificates entitled to 100% of
the Voting Rights allocated to the affected Classes, and with the agreement of
all of the parties hereto (none of which shall withhold its agreement unless its
obligations hereunder would be materially increased), the Agreement shall be
amended for the purpose of adding any provisions to or changing in any manner or
eliminating any of the provisions of this Agreement or of modifying in any
manner the rights of the Holders of Certificates, including without limitation,
(i) to cause such Classes to be restructured, (ii) to create in connection with
any restructuring one or more new classes of Certificates, which may include,
without limitation, one or more classes of Certificates entitled to payments of
principal on a priority basis from collections in respect of some or all of the
Mortgage Loans, (iii) to make in connection with any such restructuring one or
more additional REMIC elections with respect to the Trust Fund, (iv) to provide
for the book-entry registration of any such existing or newly created classes of
Certificates, and (v) to provide for any holders of any Classes of
Non-Registered Certificates remaining as such after giving effect to such
amendment to receive or have the right to request to receive any statements,
reports or other information that the holders of the Class D, Class E, Class F,
Class G, Class H, Class J, Class K, Class L, Class M, Class N, Class O and Class
P Certificates are entitled to receive or request to receive under this
Agreement. For purposes of this Section 12.01(c), a Class of Certificates is an
"affected Class" if and only if it would, as the result of any such amendment,
experience any of the effects described in clauses (i), (ii) and (iii) of
Section 12.01(b). Any restructuring pursuant to this Section 12.01(c) shall
require, at the expense of the requesting holders, the prior written approval of
each Rating Agency and confirmation of the ratings of each such Class of
Certificates (taking into account such restructuring), including confirmation
that such restructuring will not result in the downgrade, qualification (if
applicable) or withdrawal of the ratings then assigned to the Class D, Class E,
Class F, Class G, Class H, Class J, Class K, Class L, Class M, Class N, Class O
and Class P Certificates.

      (d) Notwithstanding any contrary provision of this Agreement, neither the
Trustee nor the REMIC Administrator shall consent to any amendment to this
Agreement unless it shall first have obtained or been furnished with an Opinion
of Counsel to the effect that such amendment or the exercise of any power
granted to any party hereto in accordance with such amendment will not result in
the imposition of a tax on REMIC I, REMIC II or any REMIC in which a Companion
Loan is included pursuant to the REMIC Provisions or cause REMIC I or REMIC II
to fail to qualify as a REMIC at any time that any Certificates are outstanding
or either Grantor Trust to fail to qualify as a grantor trust at any time that
any Certificates are outstanding.

      (e) Promptly after the execution of any such amendment, the Trustee shall
furnish a copy of the amendment to each Certificateholder and each Companion
Loan Holder.

      (f) It shall not be necessary for the consent of Certificateholders under
this Section 12.01 to approve the particular form of any proposed amendment, but
it shall be sufficient if such consent shall approve the substance thereof. The
manner of obtaining such consents and of evidencing the authorization of the
execution thereof by Certificateholders shall be subject to such reasonable
regulations as the Trustee may prescribe; provided that such consents shall be
in writing.

      (g) The Trustee may but shall not be obligated to enter into any amendment
pursuant to this Section 12.01 that affects its rights, duties and immunities
under this Agreement or otherwise.

      (h) The cost of any Opinion of Counsel to be delivered pursuant to Section
12.01(a) or (d) shall be borne by the Person seeking the related amendment,
except that if the Trustee requests any amendment of this Agreement in
furtherance of the rights and interests of Certificateholders, the cost of any
Opinion of Counsel required in connection therewith pursuant to Section 12.01(a)
or (d) shall be payable out of the Distribution Account.

      Section 12.02 Recordation of Agreement; Counterparts.

      (a) To the extent permitted by applicable law, this Agreement is subject
to recordation in all appropriate public offices for real property records in
all the counties or other comparable jurisdictions in which any or all of the
properties subject to the Mortgages are situated, and in any other appropriate
public recording office or elsewhere, such recordation to be effected by the
Master Servicer at the expense of the Trust on direction by the Trustee, but
only (i) upon direction accompanied by an Opinion of Counsel (the reasonable
cost of which may be paid out of the Distribution Account) to the effect that
such recordation materially and beneficially affects the interests of the
Certificateholders and (ii) upon consent of the Directing Certificateholder. It
is acknowledged that the Trustee has no obligation to monitor whether such
recordation in necessary under this Section 12.02.

      (b) For the purpose of facilitating the recordation of this Agreement as
herein provided and for other purposes, this Agreement may be executed
simultaneously in any number of counterparts, each of which counterparts shall
be deemed to be an original, and such counterparts shall constitute but one and
the same instrument.

      Section 12.03 Limitation on Rights of Certificateholders.

      (a) The death or incapacity of any Certificateholder or Companion Loan
Holder shall not operate to terminate this Agreement or the Trust, nor entitle
such Certificateholder's or Companion Loan Holder's legal representatives or
heirs to claim an accounting or to take any action or proceeding in any court
for a partition or winding up of the Trust, nor otherwise affect the rights,
obligations and liabilities of the parties hereto or any of them.

      (b) No Certificateholder or Companion Loan Holder shall have any right to
vote (except as expressly provided for herein) or in any manner otherwise
control the operation and management of the Trust Fund, or the obligations of
the parties hereto, nor shall anything herein set forth, or contained in the
terms of the Certificates, be construed so as to constitute the
Certificateholders and/ or the Companion Loan Holder(s) from time to time as
partners or members of an association; nor shall any Certificateholder or
Companion Loan Holder be under any liability to any third party by reason of any
action taken by the parties to this Agreement pursuant to any provision hereof.

      (c) No Certificateholder or Companion Loan Holder shall have any right by
virtue of any provision of this Agreement to institute any suit, action or
proceeding in equity or at law upon or under or with respect to this Agreement
or any Loan, unless, with respect to any suit, action or proceeding upon or
under or with respect to this Agreement, such Holder or Companion Loan Holder
previously shall have given to the Trustee a written notice of default
hereunder, and of the continuance thereof, as hereinbefore provided, and (except
in the case of a default by the Trustee) the Holders of Certificates entitled to
at least 25% of the Voting Rights shall have made written request upon the
Trustee to institute such action, suit or proceeding in its own name as Trustee
hereunder and shall have offered to the Trustee such reasonable indemnity as it
may require against the costs, expenses and liabilities to be incurred therein
or thereby, and the Trustee, for 60 days after its receipt of such notice,
request and offer of indemnity, shall have neglected or refused to institute any
such action, suit or proceeding. It is understood and intended, and expressly
covenanted by each Certificateholder with every other Certificateholder and the
Trustee, that no one or more Holders of Certificates shall have any right in any
manner whatsoever by virtue of any provision of this Agreement to affect,
disturb or prejudice the rights of the Holders of any other of such
Certificates, or to obtain or seek to obtain priority over or preference to any
other such Holder, which priority or preference is not otherwise provided for
herein, or to enforce any right under this Agreement, except in the manner
herein provided and for the equal, ratable and common benefit of all
Certificateholders. For the protection and enforcement of the provisions of this
Section 12.03(c), each and every Certificateholder and the Trustee shall be
entitled to such relief as can be given either at law or in equity.

      Section 12.04 Governing Law.

      This Agreement and the Certificates shall be construed in accordance with
the internal laws of the State of New York applicable to agreements made and to
be performed in said State, and the obligations, rights and remedies of the
parties hereunder shall be determined in accordance with such laws.

      Section 12.05 Notices.

      Any communications provided for or permitted hereunder shall be in writing
and, unless otherwise expressly provided herein, shall be deemed to have been
duly given when delivered to:

            (i) in the case of Banc of America Commercial Mortgage Inc., 214
      North Tryon Street, NC1-027-22-03, Charlotte, North Carolina 28255,
      Attention: Stephen Hogue, telecopy number: (704) 386-1094 (with copies to
      Paul Kurzeja, Esq., Assistant General Counsel, Bank of America
      Corporation, Bank of America Corporate Center, 100 North Tryon Street
      (20th Floor, Charlotte, North Carolina 28255), telecopy number: (704)
      387-0922;

            (ii) in the case of the Master Servicer, Bank of America, National
      Association, Capital Markets Servicing Group, NC1-026-06-01, 900 West
      Trade Street, Suite 650, Charlotte, North Carolina 28255, Attention:
      Servicing Manager, telecopy number: (704) 317-4501, Reference: Banc of
      America Commercial Mortgage Inc. Commercial Mortgage Pass-Through
      Certificates, Series 2006-2, with copy to: Henry A. LaBrun, Esq.,
      Cadwalader, Wickersham & Taft LLP, 227 West Trade Street, 24th Floor,
      Charlotte, North Carolina 28202;

            (iii) in the case of the Special Servicer, LNR Partners, Inc., 1601
      Washington Avenue, Suite 700, Miami Beach, Florida 33139, Attention:
      Randolph Wolpert, telecopy number: (305) 695-5601;

            (iv) in the case of the Trustee and REMIC Administrator, LaSalle
      Bank National Association, 135 South LaSalle Street, Suite 1625, Chicago,
      Illinois 60603, Attention: Global Securities and Trust Services Group -
      Banc of America Commercial Mortgage Inc., Commercial Mortgage Pass-Through
      Certificates, Series 2006-2, telecopy number: (312) 904-2084;

            (v) in the case of the Rating Agencies, (A) Fitch Ratings, One State
      Street Plaza, 31st Floor, New York, New York 10004, telecopy number (212)
      635 0294; (B) Standard & Poor's Ratings Services, Inc., 55 Water Street,
      41st Floor, New York, New York 10041-0003, Attention: Commercial Mortgage
      Group Surveillance Manager, telecopy number (212) 438-2662;

            (vi) in the case of the initial Directing Certificateholder,
      Hyperion Brookfield Asset Management Inc., Three World Financial Center,
      200 Vesey Street, 10th Floor, New York, New York 10281-1010, Attention:
      Julie Madnick, telecopy number (212)549-8304;

            (vii) in the case of the initial Desert Passage Pari Passu Note A-1
      Holder, Wells Fargo Bank, N.A., as Trustee for the registered holders of
      Banc of America Commercial Mortgage Inc. Commercial Mortgage Pass-Through
      Certificates, Series 2006-1, at 9062 Old Annapolis Road, Columbia,
      Maryland 21045, Attention: Corporate Trust Services (CMBS), Banc of
      America Commercial Mortgage Inc. Commercial Mortgage Pass-Through
      Certificates, Series 2006-1, telecopy number: (410) 716-2380;

            (viii) in the case of the initial Desert Passage Controlling Holder,
      Banc of America Securities LLC, 214 North Tryon Street, NC1-027-22-03,
      Charlotte, North Carolina 28255, Attention: Mr. Stephen L. Hogue, with a
      copy to Paul E. Kurzeja, Esq., at 101 S. Tryon Street, 30th Floor,
      NC1-002-29-01, Charlotte, NC 28255, and with a copy to A. James Cotins,
      Esq.;

            (ix) in the case of the initial 277 Park Avenue Pari Passu Note A-1
      Holder, LaSalle Bank National Association, as Trustee for the registered
      holders of Banc of America Commercial Mortgage Inc. Commercial Mortgage
      Pass-Through Certificates, Series 2005-6, at 135 South LaSalle Street,
      Suite 1625, Chicago, Illinois 60603, Attention: Global Securities and
      Trust Services Group - Banc of America Commercial Mortgage Inc.,
      Commercial Mortgage Pass-Through Certificates, Series 2005-6, telecopy
      number: (312) 904-2084;

            (x) in the case of the initial 277 Park Avenue Controlling Holder,
      Banc of America Securities LLC, 214 North Tryon Street, NC1-027-22-03,
      Charlotte, North Carolina 28255, Attention: Mr. Stephen L. Hogue, with a
      copy to Paul E. Kurzeja, Esq., at 101 S. Tryon Street, 30th Floor,
      NC1-002-29-01, Charlotte, NC 28255, and with a copy to A. James Cotins,
      Esq.;

            or as to each such Person such other address as may hereafter be
furnished by such Person to the parties hereto in writing. Any communication
required or permitted to be delivered to a Certificateholder shall be deemed to
have been duly given when mailed first class, postage prepaid, to the address of
such Holder as shown in the Certificate Register.

      Section 12.06 Severability of Provisions.

      If any one or more of the covenants, agreements, provisions or terms of
this Agreement shall be for any reason whatsoever held invalid, then such
covenants, agreements, provisions or terms shall be deemed severable from the
remaining covenants, agreements, provisions or terms of this Agreement and shall
in no way affect the validity or enforceability of the other provisions of this
Agreement or of the Certificates or the rights of the Holders thereof.

      Section 12.07 Successors and Assigns; Beneficiaries.

      The provisions of this Agreement shall be binding upon and inure to the
benefit of the respective successors and assigns of the parties hereto, and all
such provisions shall inure to the benefit of the Certificateholders. Each
Companion Loan Holder and any designees thereof acting on behalf of or
exercising the rights of such Companion Loan Holder shall be third-party
beneficiaries to this Agreement with respect to their rights as specifically
provided for herein and may directly enforce such rights. Except as specifically
contemplated by Sections 3.22, 3.24, 6.03 and 8.05, no other person, including,
without limitation, any Mortgagor, shall be entitled to any benefit or equitable
right, remedy or claim under this Agreement.

      Section 12.08 Article and Section Headings.

      The article and section headings herein are for convenience of reference
only, and shall not limit or otherwise affect the meaning hereof.

      Section 12.09 Notices to and from Rating Agencies.

      (a) The Trustee shall promptly provide notice to each Rating Agency with
respect to each of the following of which it has actual knowledge:

            (i) any material change or amendment to this Agreement;

            (ii) the occurrence of any Event of Default hereunder that has not
      been cured;

            (iii) the resignation or termination of the Master Servicer, the
      Special Servicer or the REMIC Administrator and the appointment of a
      successor;

            (iv) any change in the location of the Distribution Account, the
      REMIC I Distribution Account, the REMIC II Distribution Account, the
      Excess Interest Distribution Account or the Excess Liquidation Proceeds
      Account;

            (v) the final payment to any Class of Certificateholders; and

            (vi) the repurchase of any Mortgage Loan by a Mortgage Loan Seller
      pursuant to Section 2.03.

      (b) The Master Servicer shall promptly provide notice to each Rating
Agency with respect to each of the following of which it has actual knowledge:

            (i) the resignation or removal of the Trustee and the appointment of
      a successor; and

            (ii) any change in the location of the Certificate Account.

      (c) The Trustee, the Master Servicer and the Special Servicer, as
applicable, shall furnish to each Rating Agency, with respect to each Loan such
information as the Rating Agency shall reasonably request and that the Trustee,
the Master Servicer or the Special Servicer can reasonably provide in accordance
with applicable law and without waiving any attorney-client privilege relating
to such information. The Trustee, the Master Servicer and the Special Servicer,
as applicable, may include any reasonable disclaimer they deem appropriate with
respect to such information.

      (d) Each of the Master Servicer and the Special Servicer shall promptly
furnish to each Rating Agency copies of the following:

            (i) each of its annual statements as to compliance described in
      Section 11.09; and

            (ii) each of its annual independent public accountants' servicing
      reports described in Section 11.11, if any.

      In addition, as and to the extent required by Section 3.12(a) and (b),
each of the Master Servicer and the Special Servicer shall promptly furnish to
each Rating Agency copies or summaries (in such format as will be acceptable to
the Rating Agency) of any of the written reports (including, without limitation,
reports regarding property inspections) prepared, and any of the quarterly and
annual or other periodic operating statements and rent rolls collected, by it
pursuant to Section 3.12(b).

      (e) The Trustee shall promptly furnish each Rating Agency on a monthly
basis, to the extent not made available on the Trustee's Website, copies of the
statements to the Holders of the REMIC II Certificates required by the first
paragraph of Section 4.02(a).

      (f) To the extent reasonably possible, all information and reports
delivered or made available to the Rating Agencies, any Controlling Holder, any
Companion Loan Holder or a Holder of a Non-Registered Certificate (except a
Class V, Class R-I or Class R-II Certificate) (if requested by such Holder), by
any of the Trustee, the Master Servicer or the Special Servicer pursuant to this
Section 12.09, shall be so delivered or otherwise made available through an
electronic medium.

      (g) Each Rating Agency shall provide to the Trustee, upon its request, a
listing of the then current rating on any Certificate then outstanding.

      Section 12.10 Requests for Information; Standing Requests.

      (a) Any Holder of a Non-Registered Certificate (except a Class V, Class
R-I or Class R-II Certificate) shall be entitled to, upon request to the Master
Servicer, receive a copy from the Master Servicer, of any notice or report to be
delivered hereunder to the Directing Certificateholder.

      (b) For the avoidance of doubt, it is noted that to the extent that any
Rating Agency, any Controlling Holder, any Companion Loan Holder or any Holder
of a Non-Registered Certificate (except a Class V, Class R-I or Class R-II
Certificate) is stated herein to be entitled to obtain from the Master Servicer
or the Special Servicer, upon request, any particular report or other item of
information obtained or prepared with respect to the Loans by the parties to
this Agreement in the course of their performance hereof, such request by such
Person may take the form of a standing request to the Master Servicer or the
Special Servicer, as the case may be, to receive all such reports or items until
further notice.

<PAGE>

      IN WITNESS WHEREOF, the parties hereto have caused their names to be
signed hereto by their respective officers or representatives thereunto duly
authorized, in each case as of the day and year first above written.

                                    BANC OF AMERICA COMMERCIAL
                                      MORTGAGE INC.
                                      Depositor

                                    By:  /s/ John S. Palmer
                                       ------------------------------------
                                       Name:  John S. Palmer
                                       Title: Vice President

                                    BANK OF AMERICA, NATIONAL
                                      ASSOCIATION
                                      Master Servicer

                                    By:  /s/ Sean D. Reilly
                                       ------------------------------------
                                       Name:  Sean D. Reilly
                                       Title: Principal

                                    LNR PARTNERS, INC.
                                      Special Servicer

                                    By:  /s/ Steven N. Bjerke
                                       ------------------------------------
                                       Name:  Steven N. Bjerke
                                       Title: Vice President

                                    LASALLE BANK NATIONAL
                                      ASSOCIATION
                                      Trustee and REMIC Administrator

                                    By:  /s/ Nicholas C. Xeros
                                       ------------------------------------
                                       Name:  Nicholas C. Xeros
                                       Title: Assistant Vice President

<PAGE>

STATE OF NORTH CAROLINA )
                        )     ss.:
COUNTY OF MECKLENBURG   )

      On the 22 day of June 2006, before me, a notary public in and for
said State, personally appeared John S. Palmer known to me to be a
Vice President of BANC OF AMERICA COMMERCIAL MORTGAGE INC. one of the
entities that executed the within instrument, and also known to me to be the
person who executed it on behalf of such entity, and acknowledged to me that
such person executed the within instrument.

      IN WITNESS WHEREOF, I have hereunto set my hand and affixed my official
seal the day and year in this certificate first above written.

                                    /s/ Demetria C. Criston
                                    ----------------------------------------
                                    Notary Public

[Notarial Seal]

My commission expires:

February 4, 2008
------------------------

<PAGE>

STATE OF NORTH CAROLINA )
                        )     ss.:
COUNTY OF MECKLENBURG   )

      On the 22 day of June 2006, before me, a notary public in and for
said State, personally appeared Sean D. Reilly known to me to be a
Principal of BANK OF AMERICA, NATIONAL ASSOCIATION, one of the
entities that executed the within instrument, and also known to me to be the
person who executed it on behalf of such entity, and acknowledged to me that
such person executed the within instrument.

      IN WITNESS WHEREOF, I have hereunto set my hand and affixed my official
seal the day and year in this certificate first above written.

                                    /s/ Demetria C. Criston
                                    ---------------------------------------
                                    Notary Public

[Notarial Seal]

My commission expires:

 February 4, 2008
------------------------------

<PAGE>

STATE OF Florida )
                 )     ss.:
COUNTY OF Dade   )

      On the 22 day of June 2006, before me, a notary public in and for
said State, personally appeared Steven N. Bjerke, known to me to be a
Vice President of LNR Partners, Inc., one of the entities that executed
the within instrument, and also known to me to be the person who executed it on
behalf of such entity, and acknowledged to me that such person executed the
within instrument.

      IN WITNESS WHEREOF, I have hereunto set my hand and affixed my official
seal the day and year in this certificate first above written.

                                       /s/ Helen E. Galera
                                    -------------------------------------
                                    Notary Public

[Notarial Seal]

My commission expires:

June 6th, 2008
-------------------------------

<PAGE>

STATE OF Illinois       )
                        )  ss.:
COUNTY OF COOK          )

      On the 22 day of June 2006, before me, a notary public in and for said
State, personally appeared Nicholas C. Xeros, known to me to be a Assistant Vice
President of LASALLE BANK NATIONAL ASSOCIATION which executed the within
instrument, and also known to me to be the person who executed it on behalf of
such entity, and acknowledged to me that such person executed the within
instrument.

      IN WITNESS WHEREOF, I have hereunto set my hand and affixed my official
seal the day and year in this certificate first above written.

                                    /s/ Ethel Franklin
                                    ---------------------------------------
                                    Notary Public

[Notarial Seal]
My commission expires:

August 23, 2009
----------------------

<PAGE>

                                   Exhibit A-1
                          Form of Class A-1 Certificate

                          CLASS A-1 COMMERCIAL MORTGAGE
                            PASS-THROUGH CERTIFICATE,
                                  SERIES 2006-2

This is one of a series of commercial mortgage pass-through certificates
(collectively, the "Certificates"), issued in multiple classes (each, a
"Class"), which series of Certificates evidences the entire beneficial ownership
interest in a trust fund (the "Trust Fund") consisting primarily of a pool (the
"Mortgage Pool") of multifamily and commercial mortgage loans (the "Mortgage
Loans"), such pool being formed and sold by:

                    BANC OF AMERICA COMMERCIAL MORTGAGE INC.

Pass-Through Rate:                       Certificate Principal Balance of this
5.6110% per annum                        Certificate as of the Issue Date:
                                         $[104,000,000]

Date of Pooling and Servicing Agreement: Class Principal Balance of all the
June 1, 2006                             Class A-1 Certificates as of the Issue
                                         Date:
                                         $[104,000,000]

Cut-off Date:                            Initial Pool Balance: $[2,699,084,457]
June 1, 2006

Issue Date:
June 22, 2006

First Distribution Date:
July 10, 2006

Master Servicer:                         Trustee and REMIC Administrator:
Bank of America, N.A.                    LaSalle Bank National Association

Special Servicer:
LNR Partners, Inc.

Certificate No.: A-1-[__]                CUSIP No.: [________]

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST CORPORATION, A NEW YORK CORPORATION ("DTC"), TO THE DEPOSITOR,
THE TRUSTEE, THE CERTIFICATE REGISTRAR OR ANY AGENT THEREOF FOR REGISTRATION OF
TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER
ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER,
PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
HEREIN.

THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN BANC OF
AMERICA COMMERCIAL MORTGAGE INC., BANK OF AMERICA, N.A., LNR PARTNERS, INC.,
LASALLE BANK NATIONAL ASSOCIATION OR ANY OF THEIR RESPECTIVE AFFILIATES. NEITHER
THIS CERTIFICATE NOR THE MORTGAGE LOANS ARE GUARANTEED BY ANY AGENCY OR
INSTRUMENTALITY OF THE UNITED STATES OR ANY OTHER PERSON.

THE HOLDER OF THIS CERTIFICATE BY ITS ACCEPTANCE HEREOF AGREES NOT TO OFFER,
SELL OR OTHERWISE TRANSFER SUCH CERTIFICATE EXCEPT IN ACCORDANCE WITH ALL
APPLICABLE STATE SECURITIES LAWS AND (A) PURSUANT TO A REGISTRATION STATEMENT
WHICH HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT, (B) FOR SO LONG AS
THIS CERTIFICATE IS ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE
SECURITIES ACT ("RULE 144A"), TO A PERSON WHO THE SELLER REASONABLY BELIEVES IS
A "QUALIFIED INSTITUTIONAL BUYER" AS DEFINED IN RULE 144A IN A TRANSACTION
MEETING THE REQUIREMENTS OF RULE 144A, (C) TO AN INSTITUTIONAL "ACCREDITED
INVESTOR" WITHIN THE MEANING OF RULE 501 (A)(1), (2), (3) OR (7) OF REGULATION D
UNDER THE SECURITIES ACT IN A TRANSACTION EXEMPT FROM THE REGISTRATION
REQUIREMENTS UNDER THE SECURITIES ACT, OR (D) PURSUANT TO ANOTHER AVAILABLE
EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT, SUBJECT IN
EACH OF THE FOREGOING CASES TO THE COMPLETION AND DELIVERY BY THE TRANSFEROR TO
THE TRUSTEE OF AN INVESTMENT REPRESENTATION LETTER.

FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE REPRESENTS A "REGULAR
INTEREST" IN A "REAL ESTATE MORTGAGE INVESTMENT CONDUIT" (A "REMIC") AS THOSE
TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL
REVENUE CODE OF 1986, AS AMENDED.

THE OUTSTANDING CERTIFICATE PRINCIPAL BALANCE HEREOF AT ANY TIME MAY BE LESS
THAN THE AMOUNT SHOWN ABOVE.

   This certifies that Cede & Co. is the registered owner of the Percentage
Interest evidenced by this Certificate (obtained by dividing the principal
balance of this Certificate (its "Certificate Principal Balance") as of the
Issue Date by the aggregate principal balance of all the Certificates of the
same Class as this Certificate (their "Class Principal Balance") as of the Issue
Date) in that certain beneficial ownership interest in the Trust Fund evidenced
by all the Certificates of the same Class as this Certificate. The Trust Fund
was created and the Certificates were issued pursuant to a Pooling and Servicing
Agreement, dated as specified above (the "Agreement"), among Banc of America
Commercial Mortgage Inc., as Depositor, the Master Servicer, the Special
Servicer and the Trustee and REMIC Administrator identified above. To the extent
not defined herein, the capitalized terms used herein have the respective
meanings assigned in the Agreement. This Certificate is issued under and is
subject to the terms, provisions and conditions of the Agreement, to which
Agreement the Holder of this Certificate by virtue of the acceptance hereof
assents and by which such Holder is bound.

   Pursuant to the terms of the Agreement, distributions will be made on the
10th day of each month or, if such 10th day is not a Business Day, the Business
Day immediately following (each, a "Distribution Date"), commencing on the first
Distribution Date specified above, to the Person in whose name this Certificate
is registered at the close of business on the last Business Day of the month
immediately preceding the month of such distribution (the "Record Date"), in an
amount equal to the product of the Percentage Interest evidenced by this
Certificate and the amount required to be distributed pursuant to the Agreement
on the applicable Distribution Date in respect of the Class of Certificates to
which this Certificate belongs. All distributions made under the Agreement in
respect of this Certificate will be made by the Trustee by wire transfer in
immediately available funds to the account of the Person entitled thereto at a
bank or other entity having appropriate facilities therefor, if such
Certificateholder shall have provided the Trustee with written wiring
instructions no less than five (5) Business Days prior to the Record Date for
such distribution (which wiring instructions may be in the form of a standing
order applicable to all subsequent distributions as well), or otherwise by check
mailed to the address of such Certificateholder appearing in the Certificate
Register. Notwithstanding the above, the final distribution in respect of this
Certificate (determined without regard to any possible future reimbursement of
any Realized Loss or Additional Trust Fund Expense previously allocated to this
Certificate) will be made after due notice by the Trustee of the pendency of
such distribution and only upon presentation and surrender of this Certificate
at the offices of the Certificate Registrar appointed as provided in the
Agreement or such other location as may be specified in such notice. Also
notwithstanding the foregoing, any distribution that may be made with respect to
this Certificate in reimbursement of any Realized Loss or Additional Trust Fund
Expense previously allocated to this Certificate, which reimbursement is to
occur after the date on which this Certificate is surrendered as contemplated by
the preceding sentence, will be made by check mailed to the address of the
Holder that surrenders this Certificate as such address last appeared in the
Certificate Register or to any such other address of which the Trustee is
subsequently notified in writing.

   Any distribution to the Holder of this Certificate in reduction of the
Certificate Principal Balance hereof is binding on such Holder and all future
Holders of this Certificate and any Certificate issued upon the transfer hereof
or in exchange herefor or in lieu hereof whether or not notation of such
distribution is made upon this Certificate.

   The Certificates are limited in right of distribution to certain collections
and recoveries respecting the Mortgage Loans, all as more specifically set forth
herein and in the Agreement. As provided in the Agreement, withdrawals from the
Certificate Account, the Distribution Account and, if established, the REO
Account may be made from time to time for purposes other than, and, in certain
cases, prior to, distributions to Certificateholders, such purposes including
the reimbursement of advances made, or certain expenses incurred, with respect
to the Mortgage Loans and the payment of interest on such advances and expenses.

   The Certificates are issuable in fully registered form only without coupons
in minimum denominations specified in the Agreement. As provided in the
Agreement and subject to certain limitations therein set forth, the Certificates
are exchangeable for new Certificates of the same Class in authorized
denominations evidencing the same aggregate Percentage Interest, as requested by
the Holder surrendering the same.

   As provided in the Agreement and subject to certain limitations therein set
forth, the transfer of this Certificate is registrable in the Certificate
Register upon surrender of this Certificate for registration of transfer at the
offices of the Certificate Registrar, duly endorsed by, or accompanied by a
written instrument of transfer in the form satisfactory to the Certificate
Registrar duly executed by, the Holder hereof or his attorney duly authorized in
writing, and thereupon one or more new Certificates of the same Class in
authorized denominations evidencing the same aggregate Percentage Interest will
be issued to the designated transferee or transferees.

   No service charge will be imposed for any registration of transfer or
exchange of Certificates, but the Trustee or the Certificate Registrar may
require payment of a sum sufficient to cover any tax or other governmental
charge that may be imposed in connection with any transfer or exchange of
Certificates.

   For so long as this Certificate is registered in the name of Cede & Co., or
in such other name as is requested by an authorized representative of DTC,
transfers of interests in this Certificate shall be made through the book entry
facilities of DTC.

   Prior to due presentment of this Certificate for registration of transfer,
the Depositor, the Master Servicer, the Special Servicer, the Trustee, the REMIC
Administrator, the Certificate Registrar and any agents of any of them may treat
the Person in whose name this Certificate is registered as the owner hereof for
all purposes, and none of the Depositor, the Master Servicer, the Special
Servicer, the Trustee, the REMIC Administrator, the Certificate Registrar or any
such agent shall be affected by notice to the contrary.

   The Trust Fund and the obligations created by the Agreement shall terminate
upon distribution (or provision for distribution) to the Certificateholders of
all amounts held by or on behalf of the Trustee and required to be distributed
to them pursuant to the Agreement following the earlier of (i) the purchase by
the Majority Certificateholder of the Controlling Class (other than the
Depositor or any Mortgage Loan Seller), the Master Servicer or the Special
Servicer (in that order of priority) of all Mortgage Loans and each REO Property
remaining in REMIC I at a price determined as provided in the Agreement, and
(ii) the final payment or other liquidation (or any Advance with respect
thereto) of the last Mortgage Loan or REO Property remaining in REMIC I. The
Agreement permits, but does not require, any such Majority Certificateholder,
the Master Servicer or the Special Servicer to purchase from the Trust Fund all
Mortgage Loans and any REO Properties remaining therein. The exercise of such
right will effect early retirement of the Certificates; however, such right to
purchase is subject to the aggregate Stated Principal Balance of the Mortgage
Pool at the time of purchase being less than 1% of the Initial Pool Balance
specified on the face hereof.

   The Agreement permits, with certain exceptions therein provided, the
amendment thereof, and the modification of the rights and obligations of the
Depositor, the Master Servicer, the Special Servicer and the Trustee and REMIC
Administrator thereunder and the rights of the Certificateholders thereunder, at
any time by the Depositor, the Master Servicer, the Special Servicer and the
Trustee and REMIC Administrator with the consent of the Holders of Certificates
entitled to at least 51% of the Voting Rights allocated to the affected Classes.
Any such consent by the Holder of this Certificate shall be conclusive and
binding on such Holder and upon all future Holders of this Certificate and of
any Certificate issued upon the transfer hereof or in exchange herefor or in
lieu hereof whether or not notation of such consent is made upon this
Certificate. The Agreement also permits the amendment thereof, in certain
circumstances, including any amendment necessary to maintain the status of REMIC
I or REMIC II as a REMIC, without the consent of the Holders of any of the
Certificates.

   Unless the certificate of authentication hereon has been executed by the
Certificate Registrar, by manual signature, this Certificate shall not be
entitled to any benefit under the Agreement or be valid for any purpose.

   The registered Holder hereof, by its acceptance hereof, agrees that it will
look solely to the Trust Fund (to the extent of its rights therein) for
distributions hereunder.

   This Certificate shall be construed in accordance with the internal laws of
the State of New York that are applicable to agreements negotiated, made and to
be performed in said State, and the obligations, rights and remedies of the
Holder hereof shall be determined in accordance with such laws.

<PAGE>

   IN WITNESS WHEREOF, the Trustee has caused this Certificate to be duly
executed.

                                       LaSalle Bank National Association,
                                       as Trustee

                                       By:____________________________________
                                          Authorized Signatory

                          CERTIFICATE OF AUTHENTICATION

   This is one of the Class A-1 Certificates referred to in the within mentioned
Agreement.

Dated:

                                       LaSalle Bank National Association,
                                       as Certificate Registrar

                                       By:____________________________________
                                          Authorized Signatory

<PAGE>

                                   ASSIGNMENT

   FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s)
unto ______________________________________________________ (please print or
typewrite name and address including postal zip code of assignee) the beneficial
ownership interest in the Trust Fund evidenced by the within Commercial Mortgage
Pass-Through Certificate and hereby authorize(s) the registration of transfer of
such interest to the above named assignee on the Certificate Register of the
Trust Fund.

I (we) further direct the issuance of a new Commercial Mortgage Pass-Through
Certificate of a like Percentage Interest and Class to the above named assignee
and delivery of such Commercial Mortgage Pass-Through Certificate to the
following address: _____________________________________________________________
________________________________________________________________________________

Dated:

                                          ______________________________________
                                           Signature by or on behalf of Assignor

                                          ______________________________________
                                                    Signature Guaranteed

                            DISTRIBUTION INSTRUCTIONS

   The assignee should include the following for purposes of distribution:

   Distributions shall, if permitted, be made by wire transfer or otherwise, in
immediately available funds, to  ______________________________________ for the
account of _________________________________________________.

   Distributions made by check (such check to be made payable to
____________________________________) and all applicable statements and notices
should be mailed to _______________________________________________.

   This information is provided by _______________________________________, the
assignee named above, or _________________________________________, as its
agent.

<PAGE>

                                   Exhibit A-2
                          Form of Class A-2 Certificate

                          CLASS A-2 COMMERCIAL MORTGAGE
                            PASS-THROUGH CERTIFICATE,
                                  SERIES 2006-2

This is one of a series of commercial mortgage pass-through certificates
(collectively, the "Certificates"), issued in multiple classes (each, a
"Class"), which series of Certificates evidences the entire beneficial ownership
interest in a trust fund (the "Trust Fund") consisting primarily of a pool (the
"Mortgage Pool") of multifamily and commercial mortgage loans (the "Mortgage
Loans"), such pool being formed and sold by:

                    BANC OF AMERICA COMMERCIAL MORTGAGE INC.

Pass-Through Rate:                       Certificate Principal Balance of this
5.7130% per annum                        Certificate as of the Issue Date:
                                         $[68,600,000]

Date of Pooling and Servicing Agreement: Class Principal Balance of all the
June 1, 2006                             Class A-2 Certificates as of the Issue
                                         Date:
                                         $[68,600,000]

Cut-off Date:                            Initial Pool Balance: $[2,699,084,457]
June 1, 2006

Issue Date:
June 22, 2006

First Distribution Date:
July 10, 2006

Master Servicer:                         Trustee and REMIC Administrator:
Bank of America, N.A.                    LaSalle Bank National Association

Special Servicer:
LNR Partners, Inc.

Certificate No.: A-2-[__]                CUSIP No.: [________]

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST CORPORATION, A NEW YORK CORPORATION ("DTC"), TO THE DEPOSITOR,
THE TRUSTEE, THE CERTIFICATE REGISTRAR OR ANY AGENT THEREOF FOR REGISTRATION OF
TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER
ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER,
PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
HEREIN.

THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN BANC OF
AMERICA COMMERCIAL MORTGAGE INC., BANK OF AMERICA, N.A., LNR PARTNERS, INC.,
LASALLE BANK NATIONAL ASSOCIATION OR ANY OF THEIR RESPECTIVE AFFILIATES. NEITHER
THIS CERTIFICATE NOR THE MORTGAGE LOANS ARE GUARANTEED BY ANY AGENCY OR
INSTRUMENTALITY OF THE UNITED STATES OR ANY OTHER PERSON.

THE HOLDER OF THIS CERTIFICATE BY ITS ACCEPTANCE HEREOF AGREES NOT TO OFFER,
SELL OR OTHERWISE TRANSFER SUCH CERTIFICATE EXCEPT IN ACCORDANCE WITH ALL
APPLICABLE STATE SECURITIES LAWS AND (A) PURSUANT TO A REGISTRATION STATEMENT
WHICH HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT, (B) FOR SO LONG AS
THIS CERTIFICATE IS ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE
SECURITIES ACT ("RULE 144A"), TO A PERSON WHO THE SELLER REASONABLY BELIEVES IS
A "QUALIFIED INSTITUTIONAL BUYER" AS DEFINED IN RULE 144A IN A TRANSACTION
MEETING THE REQUIREMENTS OF RULE 144A, (C) TO AN INSTITUTIONAL "ACCREDITED
INVESTOR" WITHIN THE MEANING OF RULE 501 (A)(1), (2), (3) OR (7) OF REGULATION D
UNDER THE SECURITIES ACT IN A TRANSACTION EXEMPT FROM THE REGISTRATION
REQUIREMENTS UNDER THE SECURITIES ACT, OR (D) PURSUANT TO ANOTHER AVAILABLE
EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT, SUBJECT IN
EACH OF THE FOREGOING CASES TO THE COMPLETION AND DELIVERY BY THE TRANSFEROR TO
THE TRUSTEE OF AN INVESTMENT REPRESENTATION LETTER.

FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE REPRESENTS A "REGULAR
INTEREST" IN A "REAL ESTATE MORTGAGE INVESTMENT CONDUIT" (A "REMIC") AS THOSE
TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL
REVENUE CODE OF 1986, AS AMENDED.

THE OUTSTANDING CERTIFICATE PRINCIPAL BALANCE HEREOF AT ANY TIME MAY BE LESS
THAN THE AMOUNT SHOWN ABOVE.

   This certifies that Cede & Co. is the registered owner of the Percentage
Interest evidenced by this Certificate (obtained by dividing the principal
balance of this Certificate (its "Certificate Principal Balance") as of the
Issue Date by the aggregate principal balance of all the Certificates of the
same Class as this Certificate (their "Class Principal Balance") as of the Issue
Date) in that certain beneficial ownership interest in the Trust Fund evidenced
by all the Certificates of the same Class as this Certificate. The Trust Fund
was created and the Certificates were issued pursuant to a Pooling and Servicing
Agreement, dated as specified above (the "Agreement"), among Banc of America
Commercial Mortgage Inc., as Depositor, the Master Servicer, the Special
Servicer and the Trustee and REMIC Administrator identified above. To the extent
not defined herein, the capitalized terms used herein have the respective
meanings assigned in the Agreement. This Certificate is issued under and is
subject to the terms, provisions and conditions of the Agreement, to which
Agreement the Holder of this Certificate by virtue of the acceptance hereof
assents and by which such Holder is bound.

   Pursuant to the terms of the Agreement, distributions will be made on the
10th day of each month or, if such 10th day is not a Business Day, the Business
Day immediately following (each, a "Distribution Date"), commencing on the first
Distribution Date specified above, to the Person in whose name this Certificate
is registered at the close of business on the last Business Day of the month
immediately preceding the month of such distribution (the "Record Date"), in an
amount equal to the product of the Percentage Interest evidenced by this
Certificate and the amount required to be distributed pursuant to the Agreement
on the applicable Distribution Date in respect of the Class of Certificates to
which this Certificate belongs. All distributions made under the Agreement in
respect of this Certificate will be made by the Trustee by wire transfer in
immediately available funds to the account of the Person entitled thereto at a
bank or other entity having appropriate facilities therefor, if such
Certificateholder shall have provided the Trustee with written wiring
instructions no less than five (5) Business Days prior to the Record Date for
such distribution (which wiring instructions may be in the form of a standing
order applicable to all subsequent distributions as well), or otherwise by check
mailed to the address of such Certificateholder appearing in the Certificate
Register. Notwithstanding the above, the final distribution in respect of this
Certificate (determined without regard to any possible future reimbursement of
any Realized Loss or Additional Trust Fund Expense previously allocated to this
Certificate) will be made after due notice by the Trustee of the pendency of
such distribution and only upon presentation and surrender of this Certificate
at the offices of the Certificate Registrar appointed as provided in the
Agreement or such other location as may be specified in such notice. Also
notwithstanding the foregoing, any distribution that may be made with respect to
this Certificate in reimbursement of any Realized Loss or Additional Trust Fund
Expense previously allocated to this Certificate, which reimbursement is to
occur after the date on which this Certificate is surrendered as contemplated by
the preceding sentence, will be made by check mailed to the address of the
Holder that surrenders this Certificate as such address last appeared in the
Certificate Register or to any such other address of which the Trustee is
subsequently notified in writing.

   Any distribution to the Holder of this Certificate in reduction of the
Certificate Principal Balance hereof is binding on such Holder and all future
Holders of this Certificate and any Certificate issued upon the transfer hereof
or in exchange herefor or in lieu hereof whether or not notation of such
distribution is made upon this Certificate.

   The Certificates are limited in right of distribution to certain collections
and recoveries respecting the Mortgage Loans, all as more specifically set forth
herein and in the Agreement. As provided in the Agreement, withdrawals from the
Certificate Account, the Distribution Account and, if established, the REO
Account may be made from time to time for purposes other than, and, in certain
cases, prior to, distributions to Certificateholders, such purposes including
the reimbursement of advances made, or certain expenses incurred, with respect
to the Mortgage Loans and the payment of interest on such advances and expenses.

   The Certificates are issuable in fully registered form only without coupons
in minimum denominations specified in the Agreement. As provided in the
Agreement and subject to certain limitations therein set forth, the Certificates
are exchangeable for new Certificates of the same Class in authorized
denominations evidencing the same aggregate Percentage Interest, as requested by
the Holder surrendering the same.

   As provided in the Agreement and subject to certain limitations therein set
forth, the transfer of this Certificate is registrable in the Certificate
Register upon surrender of this Certificate for registration of transfer at the
offices of the Certificate Registrar, duly endorsed by, or accompanied by a
written instrument of transfer in the form satisfactory to the Certificate
Registrar duly executed by, the Holder hereof or his attorney duly authorized in
writing, and thereupon one or more new Certificates of the same Class in
authorized denominations evidencing the same aggregate Percentage Interest will
be issued to the designated transferee or transferees.

   No service charge will be imposed for any registration of transfer or
exchange of Certificates, but the Trustee or the Certificate Registrar may
require payment of a sum sufficient to cover any tax or other governmental
charge that may be imposed in connection with any transfer or exchange of
Certificates.

   For so long as this Certificate is registered in the name of Cede & Co., or
in such other name as is requested by an authorized representative of DTC,
transfers of interests in this Certificate shall be made through the book entry
facilities of DTC.

   Prior to due presentment of this Certificate for registration of transfer,
the Depositor, the Master Servicer, the Special Servicer, the Trustee, the REMIC
Administrator, the Certificate Registrar and any agents of any of them may treat
the Person in whose name this Certificate is registered as the owner hereof for
all purposes, and none of the Depositor, the Master Servicer, the Special
Servicer, the Trustee, the REMIC Administrator, the Certificate Registrar or any
such agent shall be affected by notice to the contrary.

   The Trust Fund and the obligations created by the Agreement shall terminate
upon distribution (or provision for distribution) to the Certificateholders of
all amounts held by or on behalf of the Trustee and required to be distributed
to them pursuant to the Agreement following the earlier of (i) the purchase by
the Majority Certificateholder of the Controlling Class (other than the
Depositor or any Mortgage Loan Seller), the Master Servicer or the Special
Servicer (in that order of priority) of all Mortgage Loans and each REO Property
remaining in REMIC I at a price determined as provided in the Agreement, and
(ii) the final payment or other liquidation (or any Advance with respect
thereto) of the last Mortgage Loan or REO Property remaining in REMIC I. The
Agreement permits, but does not require, any such Majority Certificateholder,
the Master Servicer or the Special Servicer to purchase from the Trust Fund all
Mortgage Loans and any REO Properties remaining therein. The exercise of such
right will effect early retirement of the Certificates; however, such right to
purchase is subject to the aggregate Stated Principal Balance of the Mortgage
Pool at the time of purchase being less than 1% of the Initial Pool Balance
specified on the face hereof.

   The Agreement permits, with certain exceptions therein provided, the
amendment thereof, and the modification of the rights and obligations of the
Depositor, the Master Servicer, the Special Servicer and the Trustee and REMIC
Administrator thereunder and the rights of the Certificateholders thereunder, at
any time by the Depositor, the Master Servicer, the Special Servicer and the
Trustee and REMIC Administrator with the consent of the Holders of Certificates
entitled to at least 51% of the Voting Rights allocated to the affected Classes.
Any such consent by the Holder of this Certificate shall be conclusive and
binding on such Holder and upon all future Holders of this Certificate and of
any Certificate issued upon the transfer hereof or in exchange herefor or in
lieu hereof whether or not notation of such consent is made upon this
Certificate. The Agreement also permits the amendment thereof, in certain
circumstances, including any amendment necessary to maintain the status of REMIC
I or REMIC II as a REMIC, without the consent of the Holders of any of the
Certificates.

   Unless the certificate of authentication hereon has been executed by the
Certificate Registrar, by manual signature, this Certificate shall not be
entitled to any benefit under the Agreement or be valid for any purpose.

   The registered Holder hereof, by its acceptance hereof, agrees that it will
look solely to the Trust Fund (to the extent of its rights therein) for
distributions hereunder.

   This Certificate shall be construed in accordance with the internal laws of
the State of New York that are applicable to agreements negotiated, made and to
be performed in said State, and the obligations, rights and remedies of the
Holder hereof shall be determined in accordance with such laws.

<PAGE>

   IN WITNESS WHEREOF, the Trustee has caused this Certificate to be duly
executed.

                                       LaSalle Bank National Association,
                                       as Trustee

                                       By:____________________________________
                                          Authorized Signatory

                          CERTIFICATE OF AUTHENTICATION

   This is one of the Class A-2 Certificates referred to in the within mentioned
Agreement.

Dated:

                                       LaSalle Bank National Association,
                                       as Certificate Registrar

                                       By:____________________________________
                                          Authorized Signatory

<PAGE>

                                   ASSIGNMENT

   FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s)
unto ______________________________________________________ (please print or
typewrite name and address including postal zip code of assignee) the beneficial
ownership interest in the Trust Fund evidenced by the within Commercial Mortgage
Pass-Through Certificate and hereby authorize(s) the registration of transfer of
such interest to the above named assignee on the Certificate Register of the
Trust Fund.

I (we) further direct the issuance of a new Commercial Mortgage Pass-Through
Certificate of a like Percentage Interest and Class to the above named assignee
and delivery of such Commercial Mortgage Pass-Through Certificate to the
following address: _____________________________________________________________
________________________________________________________________________________

Dated:

                                          ______________________________________
                                           Signature by or on behalf of Assignor

                                          ______________________________________
                                                    Signature Guaranteed

                            DISTRIBUTION INSTRUCTIONS

   The assignee should include the following for purposes of distribution:

   Distributions shall, if permitted, be made by wire transfer or otherwise, in
immediately available funds, to  ______________________________________ for the
account of _________________________________________________.

   Distributions made by check (such check to be made payable to
____________________________________) and all applicable statements and notices
should be mailed to _______________________________________________.

   This information is provided by _______________________________________, the
assignee named above, or _________________________________________, as its
agent.

<PAGE>

                                   Exhibit A-3
                          Form of Class A-3 Certificate

                          CLASS A-3 COMMERCIAL MORTGAGE
                            PASS-THROUGH CERTIFICATE,
                                  SERIES 2006-2

This is one of a series of commercial mortgage pass-through certificates
(collectively, the "Certificates"), issued in multiple classes (each, a
"Class"), which series of Certificates evidences the entire beneficial ownership
interest in a trust fund (the "Trust Fund") consisting primarily of a pool (the
"Mortgage Pool") of multifamily and commercial mortgage loans (the "Mortgage
Loans"), such pool being formed and sold by:

                    BANC OF AMERICA COMMERCIAL MORTGAGE INC.

Pass-Through Rate:                       Certificate Principal Balance of this
5.7127% per annum                        Certificate as of the Issue Date:
                                         $[145,000,000]

Date of Pooling and Servicing Agreement: Class Principal Balance of all the
June 1, 2006                             Class A-3A Certificates as of the Issue
                                         Date:
                                         $[145,000,000]

Cut-off Date:                            Initial Pool Balance: $[2,699,084,457]
June 1, 2006

Issue Date:
June 22, 2006

First Distribution Date:
July 10, 2006

Master Servicer:                         Trustee and REMIC Administrator:
Bank of America, N.A.                    LaSalle Bank National Association

Special Servicer:
LNR Partners, Inc.

Certificate No.: A-3-[__]                CUSIP No.: [________]

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST CORPORATION, A NEW YORK CORPORATION ("DTC"), TO THE DEPOSITOR,
THE TRUSTEE, THE CERTIFICATE REGISTRAR OR ANY AGENT THEREOF FOR REGISTRATION OF
TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER
ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER,
PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
HEREIN.

THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN BANC OF
AMERICA COMMERCIAL MORTGAGE INC., BANK OF AMERICA, N.A., LNR PARTNERS, INC.,
LASALLE BANK NATIONAL ASSOCIATION OR ANY OF THEIR RESPECTIVE AFFILIATES. NEITHER
THIS CERTIFICATE NOR THE MORTGAGE LOANS ARE GUARANTEED BY ANY AGENCY OR
INSTRUMENTALITY OF THE UNITED STATES OR ANY OTHER PERSON.

THE HOLDER OF THIS CERTIFICATE BY ITS ACCEPTANCE HEREOF AGREES NOT TO OFFER,
SELL OR OTHERWISE TRANSFER SUCH CERTIFICATE EXCEPT IN ACCORDANCE WITH ALL
APPLICABLE STATE SECURITIES LAWS AND (A) PURSUANT TO A REGISTRATION STATEMENT
WHICH HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT, (B) FOR SO LONG AS
THIS CERTIFICATE IS ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE
SECURITIES ACT ("RULE 144A"), TO A PERSON WHO THE SELLER REASONABLY BELIEVES IS
A "QUALIFIED INSTITUTIONAL BUYER" AS DEFINED IN RULE 144A IN A TRANSACTION
MEETING THE REQUIREMENTS OF RULE 144A, (C) TO AN INSTITUTIONAL "ACCREDITED
INVESTOR" WITHIN THE MEANING OF RULE 501 (A)(1), (2), (3) OR (7) OF REGULATION D
UNDER THE SECURITIES ACT IN A TRANSACTION EXEMPT FROM THE REGISTRATION
REQUIREMENTS UNDER THE SECURITIES ACT, OR (D) PURSUANT TO ANOTHER AVAILABLE
EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT, SUBJECT IN
EACH OF THE FOREGOING CASES TO THE COMPLETION AND DELIVERY BY THE TRANSFEROR TO
THE TRUSTEE OF AN INVESTMENT REPRESENTATION LETTER.

FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE REPRESENTS A "REGULAR
INTEREST" IN A "REAL ESTATE MORTGAGE INVESTMENT CONDUIT" (A "REMIC") AS THOSE
TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL
REVENUE CODE OF 1986, AS AMENDED.

THE OUTSTANDING CERTIFICATE PRINCIPAL BALANCE HEREOF AT ANY TIME MAY BE LESS
THAN THE AMOUNT SHOWN ABOVE.

   This certifies that Cede & Co. is the registered owner of the Percentage
Interest evidenced by this Certificate (obtained by dividing the principal
balance of this Certificate (its "Certificate Principal Balance") as of the
Issue Date by the aggregate principal balance of all the Certificates of the
same Class as this Certificate (their "Class Principal Balance") as of the Issue
Date) in that certain beneficial ownership interest in the Trust Fund evidenced
by all the Certificates of the same Class as this Certificate. The Trust Fund
was created and the Certificates were issued pursuant to a Pooling and Servicing
Agreement, dated as specified above (the "Agreement"), among Banc of America
Commercial Mortgage Inc., as Depositor, the Master Servicer, the Special
Servicer and the Trustee and REMIC Administrator identified above. To the extent
not defined herein, the capitalized terms used herein have the respective
meanings assigned in the Agreement. This Certificate is issued under and is
subject to the terms, provisions and conditions of the Agreement, to which
Agreement the Holder of this Certificate by virtue of the acceptance hereof
assents and by which such Holder is bound.

   Pursuant to the terms of the Agreement, distributions will be made on the
10th day of each month or, if such 10th day is not a Business Day, the Business
Day immediately following (each, a "Distribution Date"), commencing on the first
Distribution Date specified above, to the Person in whose name this Certificate
is registered at the close of business on the last Business Day of the month
immediately preceding the month of such distribution (the "Record Date"), in an
amount equal to the product of the Percentage Interest evidenced by this
Certificate and the amount required to be distributed pursuant to the Agreement
on the applicable Distribution Date in respect of the Class of Certificates to
which this Certificate belongs. All distributions made under the Agreement in
respect of this Certificate will be made by the Trustee by wire transfer in
immediately available funds to the account of the Person entitled thereto at a
bank or other entity having appropriate facilities therefor, if such
Certificateholder shall have provided the Trustee with written wiring
instructions no less than five (5) Business Days prior to the Record Date for
such distribution (which wiring instructions may be in the form of a standing
order applicable to all subsequent distributions as well), or otherwise by check
mailed to the address of such Certificateholder appearing in the Certificate
Register. Notwithstanding the above, the final distribution in respect of this
Certificate (determined without regard to any possible future reimbursement of
any Realized Loss or Additional Trust Fund Expense previously allocated to this
Certificate) will be made after due notice by the Trustee of the pendency of
such distribution and only upon presentation and surrender of this Certificate
at the offices of the Certificate Registrar appointed as provided in the
Agreement or such other location as may be specified in such notice. Also
notwithstanding the foregoing, any distribution that may be made with respect to
this Certificate in reimbursement of any Realized Loss or Additional Trust Fund
Expense previously allocated to this Certificate, which reimbursement is to
occur after the date on which this Certificate is surrendered as contemplated by
the preceding sentence, will be made by check mailed to the address of the
Holder that surrenders this Certificate as such address last appeared in the
Certificate Register or to any such other address of which the Trustee is
subsequently notified in writing.

   Any distribution to the Holder of this Certificate in reduction of the
Certificate Principal Balance hereof is binding on such Holder and all future
Holders of this Certificate and any Certificate issued upon the transfer hereof
or in exchange herefor or in lieu hereof whether or not notation of such
distribution is made upon this Certificate.

   The Certificates are limited in right of distribution to certain collections
and recoveries respecting the Mortgage Loans, all as more specifically set forth
herein and in the Agreement. As provided in the Agreement, withdrawals from the
Certificate Account, the Distribution Account and, if established, the REO
Account may be made from time to time for purposes other than, and, in certain
cases, prior to, distributions to Certificateholders, such purposes including
the reimbursement of advances made, or certain expenses incurred, with respect
to the Mortgage Loans and the payment of interest on such advances and expenses.

   The Certificates are issuable in fully registered form only without coupons
in minimum denominations specified in the Agreement. As provided in the
Agreement and subject to certain limitations therein set forth, the Certificates
are exchangeable for new Certificates of the same Class in authorized
denominations evidencing the same aggregate Percentage Interest, as requested by
the Holder surrendering the same.

   As provided in the Agreement and subject to certain limitations therein set
forth, the transfer of this Certificate is registrable in the Certificate
Register upon surrender of this Certificate for registration of transfer at the
offices of the Certificate Registrar, duly endorsed by, or accompanied by a
written instrument of transfer in the form satisfactory to the Certificate
Registrar duly executed by, the Holder hereof or his attorney duly authorized in
writing, and thereupon one or more new Certificates of the same Class in
authorized denominations evidencing the same aggregate Percentage Interest will
be issued to the designated transferee or transferees.

   No service charge will be imposed for any registration of transfer or
exchange of Certificates, but the Trustee or the Certificate Registrar may
require payment of a sum sufficient to cover any tax or other governmental
charge that may be imposed in connection with any transfer or exchange of
Certificates.

   For so long as this Certificate is registered in the name of Cede & Co., or
in such other name as is requested by an authorized representative of DTC,
transfers of interests in this Certificate shall be made through the book entry
facilities of DTC.

   Prior to due presentment of this Certificate for registration of transfer,
the Depositor, the Master Servicer, the Special Servicer, the Trustee, the REMIC
Administrator, the Certificate Registrar and any agents of any of them may treat
the Person in whose name this Certificate is registered as the owner hereof for
all purposes, and none of the Depositor, the Master Servicer, the Special
Servicer, the Trustee, the REMIC Administrator, the Certificate Registrar or any
such agent shall be affected by notice to the contrary.

   The Trust Fund and the obligations created by the Agreement shall terminate
upon distribution (or provision for distribution) to the Certificateholders of
all amounts held by or on behalf of the Trustee and required to be distributed
to them pursuant to the Agreement following the earlier of (i) the purchase by
the Majority Certificateholder of the Controlling Class (other than the
Depositor or any Mortgage Loan Seller), the Master Servicer or the Special
Servicer (in that order of priority) of all Mortgage Loans and each REO Property
remaining in REMIC I at a price determined as provided in the Agreement, and
(ii) the final payment or other liquidation (or any Advance with respect
thereto) of the last Mortgage Loan or REO Property remaining in REMIC I. The
Agreement permits, but does not require, any such Majority Certificateholder,
the Master Servicer or the Special Servicer to purchase from the Trust Fund all
Mortgage Loans and any REO Properties remaining therein. The exercise of such
right will effect early retirement of the Certificates; however, such right to
purchase is subject to the aggregate Stated Principal Balance of the Mortgage
Pool at the time of purchase being less than 1% of the Initial Pool Balance
specified on the face hereof.

   The Agreement permits, with certain exceptions therein provided, the
amendment thereof, and the modification of the rights and obligations of the
Depositor, the Master Servicer, the Special Servicer and the Trustee and REMIC
Administrator thereunder and the rights of the Certificateholders thereunder, at
any time by the Depositor, the Master Servicer, the Special Servicer and the
Trustee and REMIC Administrator with the consent of the Holders of Certificates
entitled to at least 51% of the Voting Rights allocated to the affected Classes.
Any such consent by the Holder of this Certificate shall be conclusive and
binding on such Holder and upon all future Holders of this Certificate and of
any Certificate issued upon the transfer hereof or in exchange herefor or in
lieu hereof whether or not notation of such consent is made upon this
Certificate. The Agreement also permits the amendment thereof, in certain
circumstances, including any amendment necessary to maintain the status of REMIC
I or REMIC II as a REMIC, without the consent of the Holders of any of the
Certificates.

   Unless the certificate of authentication hereon has been executed by the
Certificate Registrar, by manual signature, this Certificate shall not be
entitled to any benefit under the Agreement or be valid for any purpose.

   The registered Holder hereof, by its acceptance hereof, agrees that it will
look solely to the Trust Fund (to the extent of its rights therein) for
distributions hereunder.

   This Certificate shall be construed in accordance with the internal laws of
the State of New York that are applicable to agreements negotiated, made and to
be performed in said State, and the obligations, rights and remedies of the
Holder hereof shall be determined in accordance with such laws.

<PAGE>

   IN WITNESS WHEREOF, the Trustee has caused this Certificate to be duly
executed.

                                       LaSalle Bank National Association,
                                       as Trustee

                                       By:____________________________________
                                          Authorized Signatory

                          CERTIFICATE OF AUTHENTICATION

   This is one of the Class A-3 Certificates referred to in the within mentioned
Agreement.

Dated:

                                       LaSalle Bank National Association,
                                       as Certificate Registrar

                                       By:____________________________________
                                          Authorized Signatory

<PAGE>

                                   ASSIGNMENT

   FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s)
unto ______________________________________________________ (please print or
typewrite name and address including postal zip code of assignee) the beneficial
ownership interest in the Trust Fund evidenced by the within Commercial Mortgage
Pass-Through Certificate and hereby authorize(s) the registration of transfer of
such interest to the above named assignee on the Certificate Register of the
Trust Fund.

I (we) further direct the issuance of a new Commercial Mortgage Pass-Through
Certificate of a like Percentage Interest and Class to the above named assignee
and delivery of such Commercial Mortgage Pass-Through Certificate to the
following address: _____________________________________________________________
________________________________________________________________________________

Dated:

                                          ______________________________________
                                           Signature by or on behalf of Assignor

                                          ______________________________________
                                                    Signature Guaranteed

                            DISTRIBUTION INSTRUCTIONS

   The assignee should include the following for purposes of distribution:

   Distributions shall, if permitted, be made by wire transfer or otherwise, in
immediately available funds, to  ______________________________________ for the
account of _________________________________________________.

   Distributions made by check (such check to be made payable to
____________________________________) and all applicable statements and notices
should be mailed to _______________________________________________.

   This information is provided by _______________________________________, the
assignee named above, or _________________________________________, as its
agent.

<PAGE>

                                   Exhibit A-4
                         Form of Class A-AB Certificate

                         CLASS A-AB COMMERCIAL MORTGAGE
                            PASS-THROUGH CERTIFICATE,
                                  SERIES 2006-2

This is one of a series of commercial mortgage pass-through certificates
(collectively, the "Certificates"), issued in multiple classes (each, a
"Class"), which series of Certificates evidences the entire beneficial ownership
interest in a trust fund (the "Trust Fund") consisting primarily of a pool (the
"Mortgage Pool") of multifamily and commercial mortgage loans (the "Mortgage
Loans"), such pool being formed and sold by:

                    BANC OF AMERICA COMMERCIAL MORTGAGE INC.

Pass-Through Rate:                       Certificate Principal Balance of this
5.7227% per annum                        Certificate as of the Issue Date:
                                         $[118,565,000]

Date of Pooling and Servicing Agreement: Class Principal Balance of all the
June 1, 2006                             Class A-4 Certificates as of the Issue
                                         Date:
                                         $[118,565,000]

Cut-off Date:                            Initial Pool Balance: $$[2,699,084,457]
June 1, 2006

Issue Date:
June 22, 2006

First Distribution Date:
July 10, 2006

Master Servicer:                         Trustee and REMIC Administrator:
Bank of America, N.A.                    LaSalle Bank National Association

Special Servicer:
LNR Partners, Inc.

Certificate No.: A-4-[__]                CUSIP No.: [________]

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST CORPORATION, A NEW YORK CORPORATION ("DTC"), TO THE DEPOSITOR,
THE TRUSTEE, THE CERTIFICATE REGISTRAR OR ANY AGENT THEREOF FOR REGISTRATION OF
TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER
ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER,
PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
HEREIN.

THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN BANC OF
AMERICA COMMERCIAL MORTGAGE INC., BANK OF AMERICA, N.A., LNR PARTNERS, INC.,
LASALLE BANK NATIONAL ASSOCIATION OR ANY OF THEIR RESPECTIVE AFFILIATES. NEITHER
THIS CERTIFICATE NOR THE MORTGAGE LOANS ARE GUARANTEED BY ANY AGENCY OR
INSTRUMENTALITY OF THE UNITED STATES OR ANY OTHER PERSON.

THE HOLDER OF THIS CERTIFICATE BY ITS ACCEPTANCE HEREOF AGREES NOT TO OFFER,
SELL OR OTHERWISE TRANSFER SUCH CERTIFICATE EXCEPT IN ACCORDANCE WITH ALL
APPLICABLE STATE SECURITIES LAWS AND (A) PURSUANT TO A REGISTRATION STATEMENT
WHICH HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT, (B) FOR SO LONG AS
THIS CERTIFICATE IS ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE
SECURITIES ACT ("RULE 144A"), TO A PERSON WHO THE SELLER REASONABLY BELIEVES IS
A "QUALIFIED INSTITUTIONAL BUYER" AS DEFINED IN RULE 144A IN A TRANSACTION
MEETING THE REQUIREMENTS OF RULE 144A, (C) TO AN INSTITUTIONAL "ACCREDITED
INVESTOR" WITHIN THE MEANING OF RULE 501 (A)(1), (2), (3) OR (7) OF REGULATION D
UNDER THE SECURITIES ACT IN A TRANSACTION EXEMPT FROM THE REGISTRATION
REQUIREMENTS UNDER THE SECURITIES ACT, OR (D) PURSUANT TO ANOTHER AVAILABLE
EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT, SUBJECT IN
EACH OF THE FOREGOING CASES TO THE COMPLETION AND DELIVERY BY THE TRANSFEROR TO
THE TRUSTEE OF AN INVESTMENT REPRESENTATION LETTER.

FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE REPRESENTS A "REGULAR
INTEREST" IN A "REAL ESTATE MORTGAGE INVESTMENT CONDUIT" (A "REMIC") AS THOSE
TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL
REVENUE CODE OF 1986, AS AMENDED.

THE OUTSTANDING CERTIFICATE PRINCIPAL BALANCE HEREOF AT ANY TIME MAY BE LESS
THAN THE AMOUNT SHOWN ABOVE.

   This certifies that Cede & Co. is the registered owner of the Percentage
Interest evidenced by this Certificate (obtained by dividing the principal
balance of this Certificate (its "Certificate Principal Balance") as of the
Issue Date by the aggregate principal balance of all the Certificates of the
same Class as this Certificate (their "Class Principal Balance") as of the Issue
Date) in that certain beneficial ownership interest in the Trust Fund evidenced
by all the Certificates of the same Class as this Certificate. The Trust Fund
was created and the Certificates were issued pursuant to a Pooling and Servicing
Agreement, dated as specified above (the "Agreement"), among Banc of America
Commercial Mortgage Inc., as Depositor, the Master Servicer, the Special
Servicer and the Trustee and REMIC Administrator identified above. To the extent
not defined herein, the capitalized terms used herein have the respective
meanings assigned in the Agreement. This Certificate is issued under and is
subject to the terms, provisions and conditions of the Agreement, to which
Agreement the Holder of this Certificate by virtue of the acceptance hereof
assents and by which such Holder is bound.

   Pursuant to the terms of the Agreement, distributions will be made on the
10th day of each month or, if such 10th day is not a Business Day, the Business
Day immediately following (each, a "Distribution Date"), commencing on the first
Distribution Date specified above, to the Person in whose name this Certificate
is registered at the close of business on the last Business Day of the month
immediately preceding the month of such distribution (the "Record Date"), in an
amount equal to the product of the Percentage Interest evidenced by this
Certificate and the amount required to be distributed pursuant to the Agreement
on the applicable Distribution Date in respect of the Class of Certificates to
which this Certificate belongs. All distributions made under the Agreement in
respect of this Certificate will be made by the Trustee by wire transfer in
immediately available funds to the account of the Person entitled thereto at a
bank or other entity having appropriate facilities therefor, if such
Certificateholder shall have provided the Trustee with written wiring
instructions no less than five (5) Business Days prior to the Record Date for
such distribution (which wiring instructions may be in the form of a standing
order applicable to all subsequent distributions as well), or otherwise by check
mailed to the address of such Certificateholder appearing in the Certificate
Register. Notwithstanding the above, the final distribution in respect of this
Certificate (determined without regard to any possible future reimbursement of
any Realized Loss or Additional Trust Fund Expense previously allocated to this
Certificate) will be made after due notice by the Trustee of the pendency of
such distribution and only upon presentation and surrender of this Certificate
at the offices of the Certificate Registrar appointed as provided in the
Agreement or such other location as may be specified in such notice. Also
notwithstanding the foregoing, any distribution that may be made with respect to
this Certificate in reimbursement of any Realized Loss or Additional Trust Fund
Expense previously allocated to this Certificate, which reimbursement is to
occur after the date on which this Certificate is surrendered as contemplated by
the preceding sentence, will be made by check mailed to the address of the
Holder that surrenders this Certificate as such address last appeared in the
Certificate Register or to any such other address of which the Trustee is
subsequently notified in writing.

   Any distribution to the Holder of this Certificate in reduction of the
Certificate Principal Balance hereof is binding on such Holder and all future
Holders of this Certificate and any Certificate issued upon the transfer hereof
or in exchange herefor or in lieu hereof whether or not notation of such
distribution is made upon this Certificate.

   The Certificates are limited in right of distribution to certain collections
and recoveries respecting the Mortgage Loans, all as more specifically set forth
herein and in the Agreement. As provided in the Agreement, withdrawals from the
Certificate Account, the Distribution Account and, if established, the REO
Account may be made from time to time for purposes other than, and, in certain
cases, prior to, distributions to Certificateholders, such purposes including
the reimbursement of advances made, or certain expenses incurred, with respect
to the Mortgage Loans and the payment of interest on such advances and expenses.

   The Certificates are issuable in fully registered form only without coupons
in minimum denominations specified in the Agreement. As provided in the
Agreement and subject to certain limitations therein set forth, the Certificates
are exchangeable for new Certificates of the same Class in authorized
denominations evidencing the same aggregate Percentage Interest, as requested by
the Holder surrendering the same.

   As provided in the Agreement and subject to certain limitations therein set
forth, the transfer of this Certificate is registrable in the Certificate
Register upon surrender of this Certificate for registration of transfer at the
offices of the Certificate Registrar, duly endorsed by, or accompanied by a
written instrument of transfer in the form satisfactory to the Certificate
Registrar duly executed by, the Holder hereof or his attorney duly authorized in
writing, and thereupon one or more new Certificates of the same Class in
authorized denominations evidencing the same aggregate Percentage Interest will
be issued to the designated transferee or transferees.

   No service charge will be imposed for any registration of transfer or
exchange of Certificates, but the Trustee or the Certificate Registrar may
require payment of a sum sufficient to cover any tax or other governmental
charge that may be imposed in connection with any transfer or exchange of
Certificates.

   For so long as this Certificate is registered in the name of Cede & Co., or
in such other name as is requested by an authorized representative of DTC,
transfers of interests in this Certificate shall be made through the book entry
facilities of DTC.

   Prior to due presentment of this Certificate for registration of transfer,
the Depositor, the Master Servicer, the Special Servicer, the Trustee, the REMIC
Administrator, the Certificate Registrar and any agents of any of them may treat
the Person in whose name this Certificate is registered as the owner hereof for
all purposes, and none of the Depositor, the Master Servicer, the Special
Servicer, the Trustee, the REMIC Administrator, the Certificate Registrar or any
such agent shall be affected by notice to the contrary.

   The Trust Fund and the obligations created by the Agreement shall terminate
upon distribution (or provision for distribution) to the Certificateholders of
all amounts held by or on behalf of the Trustee and required to be distributed
to them pursuant to the Agreement following the earlier of (i) the purchase by
the Majority Certificateholder of the Controlling Class (other than the
Depositor or any Mortgage Loan Seller), the Master Servicer or the Special
Servicer (in that order of priority) of all Mortgage Loans and each REO Property
remaining in REMIC I at a price determined as provided in the Agreement, and
(ii) the final payment or other liquidation (or any Advance with respect
thereto) of the last Mortgage Loan or REO Property remaining in REMIC I. The
Agreement permits, but does not require, any such Majority Certificateholder,
the Master Servicer or the Special Servicer to purchase from the Trust Fund all
Mortgage Loans and any REO Properties remaining therein. The exercise of such
right will effect early retirement of the Certificates; however, such right to
purchase is subject to the aggregate Stated Principal Balance of the Mortgage
Pool at the time of purchase being less than 1% of the Initial Pool Balance
specified on the face hereof.

   The Agreement permits, with certain exceptions therein provided, the
amendment thereof, and the modification of the rights and obligations of the
Depositor, the Master Servicer, the Special Servicer and the Trustee and REMIC
Administrator thereunder and the rights of the Certificateholders thereunder, at
any time by the Depositor, the Master Servicer, the Special Servicer and the
Trustee and REMIC Administrator with the consent of the Holders of Certificates
entitled to at least 51% of the Voting Rights allocated to the affected Classes.
Any such consent by the Holder of this Certificate shall be conclusive and
binding on such Holder and upon all future Holders of this Certificate and of
any Certificate issued upon the transfer hereof or in exchange herefor or in
lieu hereof whether or not notation of such consent is made upon this
Certificate. The Agreement also permits the amendment thereof, in certain
circumstances, including any amendment necessary to maintain the status of REMIC
I or REMIC II as a REMIC, without the consent of the Holders of any of the
Certificates.

   Unless the certificate of authentication hereon has been executed by the
Certificate Registrar, by manual signature, this Certificate shall not be
entitled to any benefit under the Agreement or be valid for any purpose.

   The registered Holder hereof, by its acceptance hereof, agrees that it will
look solely to the Trust Fund (to the extent of its rights therein) for
distributions hereunder.

   This Certificate shall be construed in accordance with the internal laws of
the State of New York that are applicable to agreements negotiated, made and to
be performed in said State, and the obligations, rights and remedies of the
Holder hereof shall be determined in accordance with such laws.

<PAGE>

   IN WITNESS WHEREOF, the Trustee has caused this Certificate to be duly
executed.

                                       LaSalle Bank National Association,
                                       as Trustee

                                       By:____________________________________
                                          Authorized Signatory

                          CERTIFICATE OF AUTHENTICATION

   This is one of the Class A-4 Certificates referred to in the within mentioned
Agreement.

Dated:

                                       LaSalle Bank National Association,
                                       as Certificate Registrar

                                       By:____________________________________
                                          Authorized Signatory

<PAGE>

                                   ASSIGNMENT

   FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s)
unto ______________________________________________________ (please print or
typewrite name and address including postal zip code of assignee) the beneficial
ownership interest in the Trust Fund evidenced by the within Commercial Mortgage
Pass-Through Certificate and hereby authorize(s) the registration of transfer of
such interest to the above named assignee on the Certificate Register of the
Trust Fund.

I (we) further direct the issuance of a new Commercial Mortgage Pass-Through
Certificate of a like Percentage Interest and Class to the above named assignee
and delivery of such Commercial Mortgage Pass-Through Certificate to the
following address: _____________________________________________________________
________________________________________________________________________________

Dated:

                                          ______________________________________
                                           Signature by or on behalf of Assignor

                                          ______________________________________
                                                    Signature Guaranteed

                            DISTRIBUTION INSTRUCTIONS

   The assignee should include the following for purposes of distribution:

   Distributions shall, if permitted, be made by wire transfer or otherwise, in
immediately available funds, to  ______________________________________ for the
account of _________________________________________________.

   Distributions made by check (such check to be made payable to
____________________________________) and all applicable statements and notices
should be mailed to _______________________________________________.

   This information is provided by _______________________________________, the
assignee named above, or _________________________________________, as its
agent.

<PAGE>

                                   Exhibit A-5
                          Form of Class A-4 Certificate

                          CLASS A-4 COMMERCIAL MORTGAGE
                            PASS-THROUGH CERTIFICATE,
                                  SERIES 2006-2

This is one of a series of commercial mortgage pass-through certificates
(collectively, the "Certificates"), issued in multiple classes (each, a
"Class"), which series of Certificates evidences the entire beneficial ownership
interest in a trust fund (the "Trust Fund") consisting primarily of a pool (the
"Mortgage Pool") of multifamily and commercial mortgage loans (the "Mortgage
Loans"), such pool being formed and sold by:

                    BANC OF AMERICA COMMERCIAL MORTGAGE INC.

Pass-Through Rate:                       Certificate Principal Balance of this
5.7407% per annum                        Certificate as of the Issue Date:
                                         $[1,269,250,000]

Date of Pooling and Servicing Agreement: Class Principal Balance of all the
June 1, 2006                             Class A-4 Certificates as of the Issue
                                         Date:
                                         $[1,269,250,000]

Cut-off Date:                            Initial Pool Balance: $$[2,699,084,457]
June 1, 2006

Issue Date:
June 22, 2006

First Distribution Date:
July 10, 2006

Master Servicer:                         Trustee and REMIC Administrator:
Bank of America, N.A.                    LaSalle Bank National Association

Special Servicer:
LNR Partners, Inc.

Certificate No.: A-4-[__]                CUSIP No.: [________]

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST CORPORATION, A NEW YORK CORPORATION ("DTC"), TO THE DEPOSITOR,
THE TRUSTEE, THE CERTIFICATE REGISTRAR OR ANY AGENT THEREOF FOR REGISTRATION OF
TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER
ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER,
PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
HEREIN.

THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN BANC OF
AMERICA COMMERCIAL MORTGAGE INC., BANK OF AMERICA, N.A., LNR PARTNERS, INC.,
LASALLE BANK NATIONAL ASSOCIATION OR ANY OF THEIR RESPECTIVE AFFILIATES. NEITHER
THIS CERTIFICATE NOR THE MORTGAGE LOANS ARE GUARANTEED BY ANY AGENCY OR
INSTRUMENTALITY OF THE UNITED STATES OR ANY OTHER PERSON.

THE HOLDER OF THIS CERTIFICATE BY ITS ACCEPTANCE HEREOF AGREES NOT TO OFFER,
SELL OR OTHERWISE TRANSFER SUCH CERTIFICATE EXCEPT IN ACCORDANCE WITH ALL
APPLICABLE STATE SECURITIES LAWS AND (A) PURSUANT TO A REGISTRATION STATEMENT
WHICH HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT, (B) FOR SO LONG AS
THIS CERTIFICATE IS ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE
SECURITIES ACT ("RULE 144A"), TO A PERSON WHO THE SELLER REASONABLY BELIEVES IS
A "QUALIFIED INSTITUTIONAL BUYER" AS DEFINED IN RULE 144A IN A TRANSACTION
MEETING THE REQUIREMENTS OF RULE 144A, (C) TO AN INSTITUTIONAL "ACCREDITED
INVESTOR" WITHIN THE MEANING OF RULE 501 (A)(1), (2), (3) OR (7) OF REGULATION D
UNDER THE SECURITIES ACT IN A TRANSACTION EXEMPT FROM THE REGISTRATION
REQUIREMENTS UNDER THE SECURITIES ACT, OR (D) PURSUANT TO ANOTHER AVAILABLE
EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT, SUBJECT IN
EACH OF THE FOREGOING CASES TO THE COMPLETION AND DELIVERY BY THE TRANSFEROR TO
THE TRUSTEE OF AN INVESTMENT REPRESENTATION LETTER.

FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE REPRESENTS A "REGULAR
INTEREST" IN A "REAL ESTATE MORTGAGE INVESTMENT CONDUIT" (A "REMIC") AS THOSE
TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL
REVENUE CODE OF 1986, AS AMENDED.

THE OUTSTANDING CERTIFICATE PRINCIPAL BALANCE HEREOF AT ANY TIME MAY BE LESS
THAN THE AMOUNT SHOWN ABOVE.

   This certifies that Cede & Co. is the registered owner of the Percentage
Interest evidenced by this Certificate (obtained by dividing the principal
balance of this Certificate (its "Certificate Principal Balance") as of the
Issue Date by the aggregate principal balance of all the Certificates of the
same Class as this Certificate (their "Class Principal Balance") as of the Issue
Date) in that certain beneficial ownership interest in the Trust Fund evidenced
by all the Certificates of the same Class as this Certificate. The Trust Fund
was created and the Certificates were issued pursuant to a Pooling and Servicing
Agreement, dated as specified above (the "Agreement"), among Banc of America
Commercial Mortgage Inc., as Depositor, the Master Servicer, the Special
Servicer and the Trustee and REMIC Administrator identified above. To the extent
not defined herein, the capitalized terms used herein have the respective
meanings assigned in the Agreement. This Certificate is issued under and is
subject to the terms, provisions and conditions of the Agreement, to which
Agreement the Holder of this Certificate by virtue of the acceptance hereof
assents and by which such Holder is bound.

   Pursuant to the terms of the Agreement, distributions will be made on the
10th day of each month or, if such 10th day is not a Business Day, the Business
Day immediately following (each, a "Distribution Date"), commencing on the first
Distribution Date specified above, to the Person in whose name this Certificate
is registered at the close of business on the last Business Day of the month
immediately preceding the month of such distribution (the "Record Date"), in an
amount equal to the product of the Percentage Interest evidenced by this
Certificate and the amount required to be distributed pursuant to the Agreement
on the applicable Distribution Date in respect of the Class of Certificates to
which this Certificate belongs. All distributions made under the Agreement in
respect of this Certificate will be made by the Trustee by wire transfer in
immediately available funds to the account of the Person entitled thereto at a
bank or other entity having appropriate facilities therefor, if such
Certificateholder shall have provided the Trustee with written wiring
instructions no less than five (5) Business Days prior to the Record Date for
such distribution (which wiring instructions may be in the form of a standing
order applicable to all subsequent distributions as well), or otherwise by check
mailed to the address of such Certificateholder appearing in the Certificate
Register. Notwithstanding the above, the final distribution in respect of this
Certificate (determined without regard to any possible future reimbursement of
any Realized Loss or Additional Trust Fund Expense previously allocated to this
Certificate) will be made after due notice by the Trustee of the pendency of
such distribution and only upon presentation and surrender of this Certificate
at the offices of the Certificate Registrar appointed as provided in the
Agreement or such other location as may be specified in such notice. Also
notwithstanding the foregoing, any distribution that may be made with respect to
this Certificate in reimbursement of any Realized Loss or Additional Trust Fund
Expense previously allocated to this Certificate, which reimbursement is to
occur after the date on which this Certificate is surrendered as contemplated by
the preceding sentence, will be made by check mailed to the address of the
Holder that surrenders this Certificate as such address last appeared in the
Certificate Register or to any such other address of which the Trustee is
subsequently notified in writing.

   Any distribution to the Holder of this Certificate in reduction of the
Certificate Principal Balance hereof is binding on such Holder and all future
Holders of this Certificate and any Certificate issued upon the transfer hereof
or in exchange herefor or in lieu hereof whether or not notation of such
distribution is made upon this Certificate.

   The Certificates are limited in right of distribution to certain collections
and recoveries respecting the Mortgage Loans, all as more specifically set forth
herein and in the Agreement. As provided in the Agreement, withdrawals from the
Certificate Account, the Distribution Account and, if established, the REO
Account may be made from time to time for purposes other than, and, in certain
cases, prior to, distributions to Certificateholders, such purposes including
the reimbursement of advances made, or certain expenses incurred, with respect
to the Mortgage Loans and the payment of interest on such advances and expenses.

   The Certificates are issuable in fully registered form only without coupons
in minimum denominations specified in the Agreement. As provided in the
Agreement and subject to certain limitations therein set forth, the Certificates
are exchangeable for new Certificates of the same Class in authorized
denominations evidencing the same aggregate Percentage Interest, as requested by
the Holder surrendering the same.

   As provided in the Agreement and subject to certain limitations therein set
forth, the transfer of this Certificate is registrable in the Certificate
Register upon surrender of this Certificate for registration of transfer at the
offices of the Certificate Registrar, duly endorsed by, or accompanied by a
written instrument of transfer in the form satisfactory to the Certificate
Registrar duly executed by, the Holder hereof or his attorney duly authorized in
writing, and thereupon one or more new Certificates of the same Class in
authorized denominations evidencing the same aggregate Percentage Interest will
be issued to the designated transferee or transferees.

   No service charge will be imposed for any registration of transfer or
exchange of Certificates, but the Trustee or the Certificate Registrar may
require payment of a sum sufficient to cover any tax or other governmental
charge that may be imposed in connection with any transfer or exchange of
Certificates.

   For so long as this Certificate is registered in the name of Cede & Co., or
in such other name as is requested by an authorized representative of DTC,
transfers of interests in this Certificate shall be made through the book entry
facilities of DTC.

   Prior to due presentment of this Certificate for registration of transfer,
the Depositor, the Master Servicer, the Special Servicer, the Trustee, the REMIC
Administrator, the Certificate Registrar and any agents of any of them may treat
the Person in whose name this Certificate is registered as the owner hereof for
all purposes, and none of the Depositor, the Master Servicer, the Special
Servicer, the Trustee, the REMIC Administrator, the Certificate Registrar or any
such agent shall be affected by notice to the contrary.

   The Trust Fund and the obligations created by the Agreement shall terminate
upon distribution (or provision for distribution) to the Certificateholders of
all amounts held by or on behalf of the Trustee and required to be distributed
to them pursuant to the Agreement following the earlier of (i) the purchase by
the Majority Certificateholder of the Controlling Class (other than the
Depositor or any Mortgage Loan Seller), the Master Servicer or the Special
Servicer (in that order of priority) of all Mortgage Loans and each REO Property
remaining in REMIC I at a price determined as provided in the Agreement, and
(ii) the final payment or other liquidation (or any Advance with respect
thereto) of the last Mortgage Loan or REO Property remaining in REMIC I. The
Agreement permits, but does not require, any such Majority Certificateholder,
the Master Servicer or the Special Servicer to purchase from the Trust Fund all
Mortgage Loans and any REO Properties remaining therein. The exercise of such
right will effect early retirement of the Certificates; however, such right to
purchase is subject to the aggregate Stated Principal Balance of the Mortgage
Pool at the time of purchase being less than 1% of the Initial Pool Balance
specified on the face hereof.

   The Agreement permits, with certain exceptions therein provided, the
amendment thereof, and the modification of the rights and obligations of the
Depositor, the Master Servicer, the Special Servicer and the Trustee and REMIC
Administrator thereunder and the rights of the Certificateholders thereunder, at
any time by the Depositor, the Master Servicer, the Special Servicer and the
Trustee and REMIC Administrator with the consent of the Holders of Certificates
entitled to at least 51% of the Voting Rights allocated to the affected Classes.
Any such consent by the Holder of this Certificate shall be conclusive and
binding on such Holder and upon all future Holders of this Certificate and of
any Certificate issued upon the transfer hereof or in exchange herefor or in
lieu hereof whether or not notation of such consent is made upon this
Certificate. The Agreement also permits the amendment thereof, in certain
circumstances, including any amendment necessary to maintain the status of REMIC
I or REMIC II as a REMIC, without the consent of the Holders of any of the
Certificates.

   Unless the certificate of authentication hereon has been executed by the
Certificate Registrar, by manual signature, this Certificate shall not be
entitled to any benefit under the Agreement or be valid for any purpose.

   The registered Holder hereof, by its acceptance hereof, agrees that it will
look solely to the Trust Fund (to the extent of its rights therein) for
distributions hereunder.

   This Certificate shall be construed in accordance with the internal laws of
the State of New York that are applicable to agreements negotiated, made and to
be performed in said State, and the obligations, rights and remedies of the
Holder hereof shall be determined in accordance with such laws.

<PAGE>

   IN WITNESS WHEREOF, the Trustee has caused this Certificate to be duly
executed.

                                       LaSalle Bank National Association,
                                       as Trustee

                                       By:____________________________________
                                          Authorized Signatory

                          CERTIFICATE OF AUTHENTICATION

   This is one of the Class A-4 Certificates referred to in the within mentioned
Agreement.

Dated:

                                       LaSalle Bank National Association,
                                       as Certificate Registrar

                                       By:____________________________________
                                          Authorized Signatory

<PAGE>

                                   ASSIGNMENT

   FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s)
unto ______________________________________________________ (please print or
typewrite name and address including postal zip code of assignee) the beneficial
ownership interest in the Trust Fund evidenced by the within Commercial Mortgage
Pass-Through Certificate and hereby authorize(s) the registration of transfer of
such interest to the above named assignee on the Certificate Register of the
Trust Fund.

I (we) further direct the issuance of a new Commercial Mortgage Pass-Through
Certificate of a like Percentage Interest and Class to the above named assignee
and delivery of such Commercial Mortgage Pass-Through Certificate to the
following address: _____________________________________________________________
________________________________________________________________________________

Dated:

                                          ______________________________________
                                           Signature by or on behalf of Assignor

                                          ______________________________________
                                                    Signature Guaranteed

                            DISTRIBUTION INSTRUCTIONS

   The assignee should include the following for purposes of distribution:

   Distributions shall, if permitted, be made by wire transfer or otherwise, in
immediately available funds, to  ______________________________________ for the
account of _________________________________________________.

   Distributions made by check (such check to be made payable to
____________________________________) and all applicable statements and notices
should be mailed to _______________________________________________.

   This information is provided by _______________________________________, the
assignee named above, or _________________________________________, as its
agent.

<PAGE>

                                   Exhibit A-6
                         Form of Class A-1A Certificate

                         CLASS A-1A COMMERCIAL MORTGAGE
                            PASS-THROUGH CERTIFICATE,
                                  SERIES 2006-2

This is one of a series of commercial mortgage pass-through certificates
(collectively, the "Certificates"), issued in multiple classes (each, a
"Class"), which series of Certificates evidences the entire beneficial ownership
interest in a trust fund (the "Trust Fund") consisting primarily of a pool (the
"Mortgage Pool") of multifamily and commercial mortgage loans (the "Mortgage
Loans"), such pool being formed and sold by:

                    BANC OF AMERICA COMMERCIAL MORTGAGE INC.

Pass-Through Rate:                       Certificate Principal Balance of this
5.7427% per annum                        Certificate as of the Issue Date:
                                         $[183,944,000]

Date of Pooling and Servicing Agreement: Class Principal Balance of all the
June 1, 2006                             Class A-1A Certificates as of the Issue
                                         Date:
                                         $[183,944,000]

Cut-off Date:                            Initial Pool Balance: $[2,699,084,457]
June 1, 2006

Issue Date:
June 22, 2006

First Distribution Date:
July 10, 2006

Master Servicer:                         Trustee and REMIC Administrator:
Bank of America, N.A.                    LaSalle Bank National Association

Special Servicer:
LNR Partners, Inc.

Certificate No.: A-SB-[__]               CUSIP No.: [________]

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST CORPORATION, A NEW YORK CORPORATION ("DTC"), TO THE DEPOSITOR,
THE TRUSTEE, THE CERTIFICATE REGISTRAR OR ANY AGENT THEREOF FOR REGISTRATION OF
TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER
ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER,
PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
HEREIN.

THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN BANC OF
AMERICA COMMERCIAL MORTGAGE INC., BANK OF AMERICA, N.A., LNR PARTNERS, INC.,
LASALLE BANK NATIONAL ASSOCIATION OR ANY OF THEIR RESPECTIVE AFFILIATES. NEITHER
THIS CERTIFICATE NOR THE MORTGAGE LOANS ARE GUARANTEED BY ANY AGENCY OR
INSTRUMENTALITY OF THE UNITED STATES OR ANY OTHER PERSON.

THE HOLDER OF THIS CERTIFICATE BY ITS ACCEPTANCE HEREOF AGREES NOT TO OFFER,
SELL OR OTHERWISE TRANSFER SUCH CERTIFICATE EXCEPT IN ACCORDANCE WITH ALL
APPLICABLE STATE SECURITIES LAWS AND (A) PURSUANT TO A REGISTRATION STATEMENT
WHICH HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT, (B) FOR SO LONG AS
THIS CERTIFICATE IS ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE
SECURITIES ACT ("RULE 144A"), TO A PERSON WHO THE SELLER REASONABLY BELIEVES IS
A "QUALIFIED INSTITUTIONAL BUYER" AS DEFINED IN RULE 144A IN A TRANSACTION
MEETING THE REQUIREMENTS OF RULE 144A, (C) TO AN INSTITUTIONAL "ACCREDITED
INVESTOR" WITHIN THE MEANING OF RULE 501 (A)(1), (2), (3) OR (7) OF REGULATION D
UNDER THE SECURITIES ACT IN A TRANSACTION EXEMPT FROM THE REGISTRATION
REQUIREMENTS UNDER THE SECURITIES ACT, OR (D) PURSUANT TO ANOTHER AVAILABLE
EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT, SUBJECT IN
EACH OF THE FOREGOING CASES TO THE COMPLETION AND DELIVERY BY THE TRANSFEROR TO
THE TRUSTEE OF AN INVESTMENT REPRESENTATION LETTER.

FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE REPRESENTS A "REGULAR
INTEREST" IN A "REAL ESTATE MORTGAGE INVESTMENT CONDUIT" (A "REMIC") AS THOSE
TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL
REVENUE CODE OF 1986, AS AMENDED.

THE OUTSTANDING CERTIFICATE PRINCIPAL BALANCE HEREOF AT ANY TIME MAY BE LESS
THAN THE AMOUNT SHOWN ABOVE.

   This certifies that Cede & Co. is the registered owner of the Percentage
Interest evidenced by this Certificate (obtained by dividing the principal
balance of this Certificate (its "Certificate Principal Balance") as of the
Issue Date by the aggregate principal balance of all the Certificates of the
same Class as this Certificate (their "Class Principal Balance") as of the Issue
Date) in that certain beneficial ownership interest in the Trust Fund evidenced
by all the Certificates of the same Class as this Certificate. The Trust Fund
was created and the Certificates were issued pursuant to a Pooling and Servicing
Agreement, dated as specified above (the "Agreement"), among Banc of America
Commercial Mortgage Inc., as Depositor, the Master Servicer, the Special
Servicer and the Trustee and REMIC Administrator identified above. To the extent
not defined herein, the capitalized terms used herein have the respective
meanings assigned in the Agreement. This Certificate is issued under and is
subject to the terms, provisions and conditions of the Agreement, to which
Agreement the Holder of this Certificate by virtue of the acceptance hereof
assents and by which such Holder is bound.

   Pursuant to the terms of the Agreement, distributions will be made on the
10th day of each month or, if such 10th day is not a Business Day, the Business
Day immediately following (each, a "Distribution Date"), commencing on the first
Distribution Date specified above, to the Person in whose name this Certificate
is registered at the close of business on the last Business Day of the month
immediately preceding the month of such distribution (the "Record Date"), in an
amount equal to the product of the Percentage Interest evidenced by this
Certificate and the amount required to be distributed pursuant to the Agreement
on the applicable Distribution Date in respect of the Class of Certificates to
which this Certificate belongs. All distributions made under the Agreement in
respect of this Certificate will be made by the Trustee by wire transfer in
immediately available funds to the account of the Person entitled thereto at a
bank or other entity having appropriate facilities therefor, if such
Certificateholder shall have provided the Trustee with written wiring
instructions no less than five (5) Business Days prior to the Record Date for
such distribution (which wiring instructions may be in the form of a standing
order applicable to all subsequent distributions as well), or otherwise by check
mailed to the address of such Certificateholder appearing in the Certificate
Register. Notwithstanding the above, the final distribution in respect of this
Certificate (determined without regard to any possible future reimbursement of
any Realized Loss or Additional Trust Fund Expense previously allocated to this
Certificate) will be made after due notice by the Trustee of the pendency of
such distribution and only upon presentation and surrender of this Certificate
at the offices of the Certificate Registrar appointed as provided in the
Agreement or such other location as may be specified in such notice. Also
notwithstanding the foregoing, any distribution that may be made with respect to
this Certificate in reimbursement of any Realized Loss or Additional Trust Fund
Expense previously allocated to this Certificate, which reimbursement is to
occur after the date on which this Certificate is surrendered as contemplated by
the preceding sentence, will be made by check mailed to the address of the
Holder that surrenders this Certificate as such address last appeared in the
Certificate Register or to any such other address of which the Trustee is
subsequently notified in writing.

   Any distribution to the Holder of this Certificate in reduction of the
Certificate Principal Balance hereof is binding on such Holder and all future
Holders of this Certificate and any Certificate issued upon the transfer hereof
or in exchange herefor or in lieu hereof whether or not notation of such
distribution is made upon this Certificate.

   The Certificates are limited in right of distribution to certain collections
and recoveries respecting the Mortgage Loans, all as more specifically set forth
herein and in the Agreement. As provided in the Agreement, withdrawals from the
Certificate Account, the Distribution Account and, if established, the REO
Account may be made from time to time for purposes other than, and, in certain
cases, prior to, distributions to Certificateholders, such purposes including
the reimbursement of advances made, or certain expenses incurred, with respect
to the Mortgage Loans and the payment of interest on such advances and expenses.

   The Certificates are issuable in fully registered form only without coupons
in minimum denominations specified in the Agreement. As provided in the
Agreement and subject to certain limitations therein set forth, the Certificates
are exchangeable for new Certificates of the same Class in authorized
denominations evidencing the same aggregate Percentage Interest, as requested by
the Holder surrendering the same.

   As provided in the Agreement and subject to certain limitations therein set
forth, the transfer of this Certificate is registrable in the Certificate
Register upon surrender of this Certificate for registration of transfer at the
offices of the Certificate Registrar, duly endorsed by, or accompanied by a
written instrument of transfer in the form satisfactory to the Certificate
Registrar duly executed by, the Holder hereof or his attorney duly authorized in
writing, and thereupon one or more new Certificates of the same Class in
authorized denominations evidencing the same aggregate Percentage Interest will
be issued to the designated transferee or transferees.

   No service charge will be imposed for any registration of transfer or
exchange of Certificates, but the Trustee or the Certificate Registrar may
require payment of a sum sufficient to cover any tax or other governmental
charge that may be imposed in connection with any transfer or exchange of
Certificates.

   For so long as this Certificate is registered in the name of Cede & Co., or
in such other name as is requested by an authorized representative of DTC,
transfers of interests in this Certificate shall be made through the book entry
facilities of DTC.

   Prior to due presentment of this Certificate for registration of transfer,
the Depositor, the Master Servicer, the Special Servicer, the Trustee, the REMIC
Administrator, the Certificate Registrar and any agents of any of them may treat
the Person in whose name this Certificate is registered as the owner hereof for
all purposes, and none of the Depositor, the Master Servicer, the Special
Servicer, the Trustee, the REMIC Administrator, the Certificate Registrar or any
such agent shall be affected by notice to the contrary.

   The Trust Fund and the obligations created by the Agreement shall terminate
upon distribution (or provision for distribution) to the Certificateholders of
all amounts held by or on behalf of the Trustee and required to be distributed
to them pursuant to the Agreement following the earlier of (i) the purchase by
the Majority Certificateholder of the Controlling Class (other than the
Depositor or any Mortgage Loan Seller), the Master Servicer or the Special
Servicer (in that order of priority) of all Mortgage Loans and each REO Property
remaining in REMIC I at a price determined as provided in the Agreement, and
(ii) the final payment or other liquidation (or any Advance with respect
thereto) of the last Mortgage Loan or REO Property remaining in REMIC I. The
Agreement permits, but does not require, any such Majority Certificateholder,
the Master Servicer or the Special Servicer to purchase from the Trust Fund all
Mortgage Loans and any REO Properties remaining therein. The exercise of such
right will effect early retirement of the Certificates; however, such right to
purchase is subject to the aggregate Stated Principal Balance of the Mortgage
Pool at the time of purchase being less than 1% of the Initial Pool Balance
specified on the face hereof.

   The Agreement permits, with certain exceptions therein provided, the
amendment thereof, and the modification of the rights and obligations of the
Depositor, the Master Servicer, the Special Servicer and the Trustee and REMIC
Administrator thereunder and the rights of the Certificateholders thereunder, at
any time by the Depositor, the Master Servicer, the Special Servicer and the
Trustee and REMIC Administrator with the consent of the Holders of Certificates
entitled to at least 51% of the Voting Rights allocated to the affected Classes.
Any such consent by the Holder of this Certificate shall be conclusive and
binding on such Holder and upon all future Holders of this Certificate and of
any Certificate issued upon the transfer hereof or in exchange herefor or in
lieu hereof whether or not notation of such consent is made upon this
Certificate. The Agreement also permits the amendment thereof, in certain
circumstances, including any amendment necessary to maintain the status of REMIC
I or REMIC II as a REMIC, without the consent of the Holders of any of the
Certificates.

   Unless the certificate of authentication hereon has been executed by the
Certificate Registrar, by manual signature, this Certificate shall not be
entitled to any benefit under the Agreement or be valid for any purpose.

   The registered Holder hereof, by its acceptance hereof, agrees that it will
look solely to the Trust Fund (to the extent of its rights therein) for
distributions hereunder.

   This Certificate shall be construed in accordance with the internal laws of
the State of New York that are applicable to agreements negotiated, made and to
be performed in said State, and the obligations, rights and remedies of the
Holder hereof shall be determined in accordance with such laws.

<PAGE>

   IN WITNESS WHEREOF, the Trustee has caused this Certificate to be duly
executed.

                                       LaSalle Bank National Association,
                                       as Trustee

                                       By:____________________________________
                                          Authorized Signatory

                          CERTIFICATE OF AUTHENTICATION

   This is one of the Class A-1A Certificates referred to in the within
mentioned Agreement.

Dated:

                                       LaSalle Bank National Association,
                                       as Certificate Registrar

                                       By:____________________________________
                                          Authorized Signatory

<PAGE>

                                   ASSIGNMENT

   FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s)
unto ______________________________________________________ (please print or
typewrite name and address including postal zip code of assignee) the beneficial
ownership interest in the Trust Fund evidenced by the within Commercial Mortgage
Pass-Through Certificate and hereby authorize(s) the registration of transfer of
such interest to the above named assignee on the Certificate Register of the
Trust Fund.

I (we) further direct the issuance of a new Commercial Mortgage Pass-Through
Certificate of a like Percentage Interest and Class to the above named assignee
and delivery of such Commercial Mortgage Pass-Through Certificate to the
following address: _____________________________________________________________
________________________________________________________________________________

Dated:

                                          ______________________________________
                                           Signature by or on behalf of Assignor

                                          ______________________________________
                                                    Signature Guaranteed

                            DISTRIBUTION INSTRUCTIONS

   The assignee should include the following for purposes of distribution:

   Distributions shall, if permitted, be made by wire transfer or otherwise, in
immediately available funds, to  ______________________________________ for the
account of _________________________________________________.

   Distributions made by check (such check to be made payable to
____________________________________) and all applicable statements and notices
should be mailed to _______________________________________________.

   This information is provided by _______________________________________, the
assignee named above, or _________________________________________, as its
agent.

<PAGE>

                                   Exhibit A-7
                          Form of Class XW Certificate

                          CLASS XW COMMERCIAL MORTGAGE
                            PASS-THROUGH CERTIFICATE,
                                  SERIES 2006-2

                     [RULE 144A](1) [REG S](2) CERTIFICATE

This is one of a series of commercial mortgage pass-through certificates
(collectively, the "Certificates"), issued in multiple classes (each, a
"Class"), which series of Certificates evidences the entire beneficial ownership
interest in a trust fund (the "Trust Fund") consisting primarily of a pool (the
"Mortgage Pool") of multifamily and commercial mortgage loans (the "Mortgage
Loans"), such pool being formed and sold by:

                    BANC OF AMERICA COMMERCIAL MORTGAGE INC.

Pass-Through Rate:                       Certificate Notional Amount of this
0.0419% per annum                        Certificate as of the Issue Date:
                                         $[500,000,000]  $[500,000,000]
                                         $[500,000,000]  $[500,000,000]
                                         $[500,000,000]  $[199,084,457]

Date of Pooling and Servicing Agreement: Class Notional Amount of all the
June 1, 2006                             Class XC Certificates as of the Issue
                                         Date:
                                         $2,699,084,457

Cut-off Date:                            Initial Pool Balance: $[2,699,084,457]
June 1, 2006

Issue Date:
June 22, 2006

First Distribution Date:
July 10, 2006

Master Servicer:                         Trustee and REMIC Administrator:
Bank of America, N.A.                    LaSalle Bank National Association

Special Servicer:
LNR Partners, Inc.

Certificate No.: XC-[__]                 CUSIP No.: [________](1)
                                         CUSIP No.: [________](2)

----------
(1) For Rule 144A Book-Entry Certificates only.

(2) For Reg S Book-Entry Certificates only.

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST CORPORATION, A NEW YORK CORPORATION ("DTC"), TO THE DEPOSITOR,
THE TRUSTEE, THE CERTIFICATE REGISTRAR OR ANY AGENT THEREOF FOR REGISTRATION OF
TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER
ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER,
PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
HEREIN.

THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN BANC OF
AMERICA COMMERCIAL MORTGAGE INC., BANK OF AMERICA, N.A., LNR PARTNERS, INC.,
LASALLE BANK NATIONAL ASSOCIATION OR ANY OF THEIR RESPECTIVE AFFILIATES. NEITHER
THIS CERTIFICATE NOR THE MORTGAGE LOANS ARE GUARANTEED BY ANY AGENCY OR
INSTRUMENTALITY OF THE UNITED STATES OR ANY OTHER PERSON.

THIS CERTIFICATE HAS NOT BEEN REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT
OF 1933, AS AMENDED (THE "SECURITIES ACT"), OR THE SECURITIES LAWS OF ANY STATE.
ANY RESALE, TRANSFER OR OTHER DISPOSITION OF THIS CERTIFICATE WITHOUT SUCH
REGISTRATION OR QUALIFICATION MAY BE MADE ONLY IN A TRANSACTION WHICH DOES NOT
REQUIRE SUCH REGISTRATION OR QUALIFICATION AND IN ACCORDANCE WITH THE PROVISIONS
OF SECTION 5.02 OF THE AGREEMENT REFERRED TO HEREIN.

THE HOLDER OF THIS CERTIFICATE BY ITS ACCEPTANCE HEREOF AGREES NOT TO OFFER,
SELL OR OTHERWISE TRANSFER SUCH CERTIFICATE EXCEPT IN ACCORDANCE WITH ALL
APPLICABLE STATE SECURITIES LAWS AND (A) PURSUANT TO A REGISTRATION STATEMENT
WHICH HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT, (B) FOR SO LONG AS
THIS CERTIFICATE IS ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE
SECURITIES ACT ("RULE 144A"), TO A PERSON WHO THE SELLER REASONABLY BELIEVES IS
A "QUALIFIED INSTITUTIONAL BUYER" AS DEFINED IN RULE 144A IN A TRANSACTION
MEETING THE REQUIREMENTS OF RULE 144A, (C) IN AN OFFSHORE TRANSACTION COMPLYING
WITH RULE 903 OR 904 OF REGULATION S UNDER THE SECURITIES ACT, (D) TO AN
INSTITUTIONAL "ACCREDITED INVESTOR" WITHIN THE MEANING OF RULE 501 (A)(1), (2),
(3) OR (7) OF REGULATION D UNDER THE SECURITIES ACT IN A TRANSACTION EXEMPT FROM
THE REGISTRATION REQUIREMENTS UNDER THE SECURITIES ACT, OR (E) PURSUANT TO
ANOTHER AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES
ACT, SUBJECT IN EACH OF THE FOREGOING CASES TO THE COMPLETION AND DELIVERY BY
THE TRANSFEROR TO THE TRUSTEE OF AN INVESTMENT REPRESENTATION LETTER.

FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE REPRESENTS A "REGULAR
INTEREST" IN A "REAL ESTATE MORTGAGE INVESTMENT CONDUIT" (A "REMIC") AS THOSE
TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL
REVENUE CODE OF 1986, AS AMENDED.

THIS CERTIFICATE DOES NOT HAVE A CERTIFICATE PRINCIPAL BALANCE AND DOES NOT
ENTITLE THE HOLDER HEREOF TO ANY DISTRIBUTIONS OF PRINCIPAL. THE HOLDER HEREOF
WILL BE ENTITLED TO DISTRIBUTIONS OF INTEREST ACCRUED AS PROVIDED IN THE
AGREEMENT REFERRED TO HEREIN ON THE CERTIFICATE NOTIONAL AMOUNT OF THIS
CERTIFICATE, WHICH AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ABOVE.

   This certifies that Cede & Co. is the registered owner of the Percentage
Interest evidenced by this Certificate (obtained by dividing the notional
principal amount of this Certificate (its "Certificate Notional Amount") as of
the Issue Date by the aggregate notional principal balance of all the
Certificates of the same Class as this Certificate (their "Class Notional
Amount") as of the Issue Date) in that certain beneficial ownership interest in
the Trust Fund evidenced by all the Certificates of the same Class as this
Certificate. The Trust Fund was created and the Certificates were issued
pursuant to a Pooling and Servicing Agreement, dated as specified above (the
"Agreement"), among Banc of America Commercial Mortgage Inc., as Depositor, and
the Master Servicer, the Special Servicer and the Trustee and REMIC
Administrator identified above. To the extent not defined herein, the
capitalized terms used herein have the respective meanings assigned in the
Agreement. This Certificate is issued under and is subject to the terms,
provisions and conditions of the Agreement, to which Agreement the Holder of
this Certificate by virtue of the acceptance hereof assents and by which such
Holder is bound.

   Pursuant to the terms of the Agreement, distributions will be made on the
10th day of each month or, if such 10th day is not a Business Day, the Business
Day immediately following (each, a "Distribution Date"), commencing on the first
Distribution Date specified above, to the Person in whose name this Certificate
is registered at the close of business on the last Business Day of the month
immediately preceding the month of such distribution (the "Record Date"), in an
amount equal to the product of the Percentage Interest evidenced by this
Certificate and the amount required to be distributed pursuant to the Agreement
on the applicable Distribution Date in respect of the Class of Certificates to
which this Certificate belongs. All distributions made under the Agreement in
respect of this Certificate will be made by the Trustee by wire transfer in
immediately available funds to the account of the Person entitled thereto at a
bank or other entity having appropriate facilities therefor, if such
Certificateholder shall have provided the Trustee with written wiring
instructions no less than five (5) Business Days prior to the Record Date for
such distribution (which wiring instructions may be in the form of a standing
order applicable to all subsequent distributions as well), or otherwise by check
mailed to the address of such Certificateholder appearing in the Certificate
Register. Notwithstanding the above, the final distribution in respect of this
Certificate will be made after due notice by the Trustee of the pendency of such
distribution and only upon presentation and surrender of this Certificate at the
offices of the Certificate Registrar appointed as provided in the Agreement or
such other location as may be specified in such notice.

   The Certificates are limited in right of distribution to certain collections
and recoveries respecting the Mortgage Loans, all as more specifically set forth
herein and in the Agreement. As provided in the Agreement, withdrawals from the
Certificate Account, the Distribution Account and, if established, the REO
Account may be made from time to time for purposes other than, and, in certain
cases, prior to, distributions to Certificateholders, such purposes including
the reimbursement of advances made, or certain expenses incurred, with respect
to the Mortgage Loans and the payment of interest on such advances and expenses.

   The Certificates are issuable in fully registered form only without coupons
in minimum denominations specified in the Agreement. As provided in the
Agreement and subject to certain limitations therein set forth, the Certificates
are exchangeable for new Certificates of the same Class in authorized
denominations evidencing the same aggregate Percentage Interest, as requested by
the Holder surrendering the same.

   As provided in the Agreement and subject to certain limitations therein set
forth, the transfer of this Certificate is registrable in the Certificate
Register upon surrender of this Certificate for registration of transfer at the
offices of the Certificate Registrar, duly endorsed by, or accompanied by a
written instrument of transfer in the form satisfactory to the Certificate
Registrar duly executed by, the Holder hereof or his attorney duly authorized in
writing, and thereupon one or more new Certificates of the same Class in
authorized denominations evidencing the same aggregate Percentage Interest will
be issued to the designated transferee or transferees.

   No service charge will be imposed for any registration of transfer or
exchange of Certificates, but the Trustee or the Certificate Registrar may
require payment of a sum sufficient to cover any tax or other governmental
charge that may be imposed in connection with any transfer or exchange of
Certificates.

   For so long as this Certificate is registered in the name of Cede & Co., or
in such other name as is requested by an authorized representative of DTC,
transfers of interests in this Certificate shall be made through the book entry
facilities of DTC.

   Prior to due presentment of this Certificate for registration of transfer,
the Depositor, the Master Servicer, the Special Servicer, the Trustee, the REMIC
Administrator, the Certificate Registrar and any agents of any of them may treat
the Person in whose name this Certificate is registered as the owner hereof for
all purposes, and none of the Depositor, the Master Servicer, the Special
Servicer, the Trustee, the REMIC Administrator, the Certificate Registrar or any
such agent shall be affected by notice to the contrary.

   The Trust Fund and the obligations created by the Agreement shall terminate
upon distribution (or provision for distribution) to the Certificateholders of
all amounts held by or on behalf of the Trustee and required to be distributed
to them pursuant to the Agreement following the earlier of (i) the purchase by
the Majority Certificateholder of the Controlling Class (other than the
Depositor or any Mortgage Loan Seller), the Master Servicer or the Special
Servicer (in that order of priority) of all Mortgage Loans and each REO Property
remaining in REMIC I at a price determined as provided in the Agreement, and
(ii) the final payment or other liquidation (or any Advance with respect
thereto) of the last Mortgage Loan or REO Property remaining in REMIC I. The
Agreement permits, but does not require, any such Majority Certificateholder,
the Master Servicer or the Special Servicer to purchase from the Trust Fund all
Mortgage Loans and any REO Properties remaining therein. The exercise of such
right will effect early retirement of the Certificates; however, such right to
purchase is subject to the aggregate Stated Principal Balance of the Mortgage
Pool at the time of purchase being less than 1% of the Initial Pool Balance
specified on the face hereof.

   The Agreement permits, with certain exceptions therein provided, the
amendment thereof, and the modification of the rights and obligations of the
Depositor, the Master Servicer, the Special Servicer and the Trustee and REMIC
Administrator thereunder and the rights of the Certificateholders thereunder, at
any time by the Depositor, the Master Servicer, the Special Servicer and the
Trustee and REMIC Administrator with the consent of the Holders of Certificates
entitled to at least 51% of the Voting Rights allocated to the affected Classes.
Any such consent by the Holder of this Certificate shall be conclusive and
binding on such Holder and upon all future Holders of this Certificate and of
any Certificate issued upon the transfer hereof or in exchange herefor or in
lieu hereof whether or not notation of such consent is made upon this
Certificate. The Agreement also permits the amendment thereof, in certain
circumstances, including any amendment necessary to maintain the status of REMIC
I or REMIC II as a REMIC, without the consent of the Holders of any of the
Certificates.

   Unless the certificate of authentication hereon has been executed by the
Certificate Registrar, by manual signature, this Certificate shall not be
entitled to any benefit under the Agreement or be valid for any purpose.

   The registered Holder hereof, by its acceptance hereof, agrees that it will
look solely to the Trust Fund (to the extent of its rights therein) for
distributions hereunder.

   This Certificate shall be construed in accordance with the internal laws of
the State of New York that are applicable to agreements negotiated, made and to
be performed in said State, and the obligations, rights and remedies of the
Holder hereof shall be determined in accordance with such laws.

<PAGE>

   IN WITNESS WHEREOF, the Trustee has caused this Certificate to be duly
executed.

                                       LaSalle Bank National Association,
                                       as Trustee

                                       By:____________________________________
                                          Authorized Signatory

                          CERTIFICATE OF AUTHENTICATION

   This is one of the Class XW Certificates referred to in the within mentioned
Agreement.

Dated:

                                       LaSalle Bank National Association,
                                       as Certificate Registrar

                                       By:____________________________________
                                          Authorized Signatory

<PAGE>

                                   SCHEDULE A

                Certificate Balance of
                Definitive Certificates
            exchanged or transferred for, or
             issued in exchange for or upon     Remaining Principal
            transfer of, an interest in this    Amount of Book Entry    Notation
  Date           Book-Entry Certificate            Certificate           Made By
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------

<PAGE>

                                   ASSIGNMENT

   FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s)
unto ______________________________________________________ (please print or
typewrite name and address including postal zip code of assignee) the beneficial
ownership interest in the Trust Fund evidenced by the within Commercial Mortgage
Pass-Through Certificate and hereby authorize(s) the registration of transfer of
such interest to the above named assignee on the Certificate Register of the
Trust Fund.

I (we) further direct the issuance of a new Commercial Mortgage Pass-Through
Certificate of a like Percentage Interest and Class to the above named assignee
and delivery of such Commercial Mortgage Pass-Through Certificate to the
following address: _____________________________________________________________
________________________________________________________________________________

Dated:

                                          ______________________________________
                                           Signature by or on behalf of Assignor

                                          ______________________________________
                                                    Signature Guaranteed

                            DISTRIBUTION INSTRUCTIONS

   The assignee should include the following for purposes of distribution:

   Distributions shall, if permitted, be made by wire transfer or otherwise, in
immediately available funds, to  ______________________________________ for the
account of _________________________________________________.

   Distributions made by check (such check to be made payable to
____________________________________) and all applicable statements and notices
should be mailed to _______________________________________________.

   This information is provided by _______________________________________, the
assignee named above, or _________________________________________, as its
agent.

<PAGE>

                                  Exhibit A-8
                          Form of Class A-M Certificate

                          CLASS A-M COMMERCIAL MORTGAGE
                            PASS-THROUGH CERTIFICATE,
                                  SERIES 2006-2

This is one of a series of commercial mortgage pass-through certificates
(collectively, the "Certificates"), issued in multiple classes (each, a
"Class"), which series of Certificates evidences the entire beneficial ownership
interest in a trust fund (the "Trust Fund") consisting primarily of a pool (the
"Mortgage Pool") of multifamily and commercial mortgage loans (the "Mortgage
Loans"), such pool being formed and sold by:

                    BANC OF AMERICA COMMERCIAL MORTGAGE INC.

Pass-Through Rate:                       Certificate Principal Balance of this
5.7757% per annum                        Certificate as of the Issue Date:
                                         $[269,908,000]

Date of Pooling and Servicing Agreement: Class Principal Balance of all the
June 1, 2006                             Class A-M Certificates as of the Issue
                                         Date:
                                         $[269,908,000]

Cut-off Date:                            Initial Pool Balance: $[2,699,084,457]
June 1, 2006

Issue Date:
June 22, 2006

First Distribution Date:
July 10, 2006

Master Servicer:                         Trustee and REMIC Administrator:
Bank of America, N.A.                    LaSalle Bank National Association

Special Servicer:
LNR Partners, Inc.

Certificate No.: A-M-[__]                CUSIP No.: [________]

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST CORPORATION, A NEW YORK CORPORATION ("DTC"), TO THE DEPOSITOR,
THE TRUSTEE, THE CERTIFICATE REGISTRAR OR ANY AGENT THEREOF FOR REGISTRATION OF
TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER
ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER,
PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
HEREIN.

THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN BANC OF
AMERICA COMMERCIAL MORTGAGE INC., BANK OF AMERICA, N.A., LNR PARTNERS, INC.,
LASALLE BANK NATIONAL ASSOCIATION OR ANY OF THEIR RESPECTIVE AFFILIATES. NEITHER
THIS CERTIFICATE NOR THE MORTGAGE LOANS ARE GUARANTEED BY ANY AGENCY OR
INSTRUMENTALITY OF THE UNITED STATES OR ANY OTHER PERSON.

THE CLASS OF CERTIFICATES TO WHICH THIS CERTIFICATE BELONGS IS SUBORDINATE TO
ONE OR MORE OTHER CLASSES OF CERTIFICATES OF THE SAME SERIES, AS AND TO THE
EXTENT PROVIDED IN THE AGREEMENT REFERRED TO HEREIN.

THE HOLDER OF THIS CERTIFICATE BY ITS ACCEPTANCE HEREOF AGREES NOT TO OFFER,
SELL OR OTHERWISE TRANSFER SUCH CERTIFICATE EXCEPT IN ACCORDANCE WITH ALL
APPLICABLE STATE SECURITIES LAWS AND (A) PURSUANT TO A REGISTRATION STATEMENT
WHICH HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT, (B) FOR SO LONG AS
THIS CERTIFICATE IS ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE
SECURITIES ACT ("RULE 144A"), TO A PERSON WHO THE SELLER REASONABLY BELIEVES IS
A "QUALIFIED INSTITUTIONAL BUYER" AS DEFINED IN RULE 144A IN A TRANSACTION
MEETING THE REQUIREMENTS OF RULE 144A, (C) TO AN INSTITUTIONAL "ACCREDITED
INVESTOR" WITHIN THE MEANING OF RULE 501 (A)(1), (2), (3) OR (7) OF REGULATION D
UNDER THE SECURITIES ACT IN A TRANSACTION EXEMPT FROM THE REGISTRATION
REQUIREMENTS UNDER THE SECURITIES ACT, OR (D) PURSUANT TO ANOTHER AVAILABLE
EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT, SUBJECT IN
EACH OF THE FOREGOING CASES TO THE COMPLETION AND DELIVERY BY THE TRANSFEROR TO
THE TRUSTEE OF AN INVESTMENT REPRESENTATION LETTER.

FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE REPRESENTS A "REGULAR
INTEREST" IN A "REAL ESTATE MORTGAGE INVESTMENT CONDUIT" (A "REMIC") AS THOSE
TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL
REVENUE CODE OF 1986, AS AMENDED.

THE OUTSTANDING CERTIFICATE PRINCIPAL BALANCE HEREOF OF AT ANY TIME MAY BE LESS
THAN THE AMOUNT SHOWN ABOVE.

   This certifies that Cede & Co. is the registered owner of the Percentage
Interest evidenced by this Certificate (obtained by dividing the principal
balance of this Certificate (its "Certificate Principal Balance") as of the
Issue Date by the aggregate principal balance of all the Certificates of the
same Class as this Certificate (their "Class Principal Balance") as of the Issue
Date) in that certain beneficial ownership interest in the Trust Fund evidenced
by all the Certificates of the same Class as this Certificate. The Trust Fund
was created and the Certificates were issued pursuant to a Pooling and Servicing
Agreement, dated as specified above (the "Agreement"), among Banc of America
Commercial Mortgage Inc., as Depositor, and the Master Servicer, the Special
Servicer and the Trustee and REMIC Administrator identified above. To the extent
not defined herein, the capitalized terms used herein have the respective
meanings assigned in the Agreement. This Certificate is issued under and is
subject to the terms, provisions and conditions of the Agreement, to which
Agreement the Holder of this Certificate by virtue of the acceptance hereof
assents and by which such Holder is bound.

   Pursuant to the terms of the Agreement, distributions will be made on the
10th day of each month or, if such 10th day is not a Business Day, the Business
Day immediately following (each, a "Distribution Date"), commencing on the first
Distribution Date specified above, to the Person in whose name this Certificate
is registered at the close of business on the last Business Day of the month
immediately preceding the month of such distribution (the "Record Date"), in an
amount equal to the product of the Percentage Interest evidenced by this
Certificate and the amount required to be distributed pursuant to the Agreement
on the applicable Distribution Date in respect of the Class of Certificates to
which this Certificate belongs. All distributions made under the Agreement in
respect of this Certificate will be made by the Trustee by wire transfer in
immediately available funds to the account of the Person entitled thereto at a
bank or other entity having appropriate facilities therefor, if such
Certificateholder shall have provided the Trustee with written wiring
instructions no less than five (5) Business Days prior to the Record Date for
such distribution (which wiring instructions may be in the form of a standing
order applicable to all subsequent distributions as well), or otherwise by check
mailed to the address of such Certificateholder appearing in the Certificate
Register. Notwithstanding the above, the final distribution in respect of this
Certificate (determined without regard to any possible future reimbursement of
any Realized Loss or Additional Trust Fund Expense previously allocated to this
Certificate) will be made after due notice by the Trustee of the pendency of
such distribution and only upon presentation and surrender of this Certificate
at the offices of the Certificate Registrar appointed as provided in the
Agreement or such other location as may be specified in such notice. Also
notwithstanding the foregoing, any distribution that may be made with respect to
this Certificate in reimbursement of any Realized Loss or Additional Trust Fund
Expense previously allocated to this Certificate, which reimbursement is to
occur after the date on which this Certificate is surrendered as contemplated by
the preceding sentence, will be made by check mailed to the address of the
Holder that surrenders this Certificate as such address last appeared in the
Certificate Register or to any such other address of which the Trustee is
subsequently notified in writing.

   Any distribution to the Holder of this Certificate in reduction of the
Certificate Principal Balance hereof is binding on such Holder and all future
Holders of this Certificate and any Certificate issued upon the transfer hereof
or in exchange herefor or in lieu hereof whether or not notation of such
distribution is made upon this Certificate.

   The Certificates are limited in right of distribution to certain collections
and recoveries respecting the Mortgage Loans, all as more specifically set forth
herein and in the Agreement. As provided in the Agreement, withdrawals from the
Certificate Account, the Distribution Account and, if established, the REO
Account may be made from time to time for purposes other than, and, in certain
cases, prior to, distributions to Certificateholders, such purposes including
the reimbursement of advances made, or certain expenses incurred, with respect
to the Mortgage Loans and the payment of interest on such advances and expenses.

   The Certificates are issuable in fully registered form only without coupons
in minimum denominations specified in the Agreement. As provided in the
Agreement and subject to certain limitations therein set forth, the Certificates
are exchangeable for new Certificates of the same Class in authorized
denominations evidencing the same aggregate Percentage Interest, as requested by
the Holder surrendering the same.

   As provided in the Agreement and subject to certain limitations therein set
forth, the transfer of this Certificate is registrable in the Certificate
Register upon surrender of this Certificate for registration of transfer at the
offices of the Certificate Registrar, duly endorsed by, or accompanied by a
written instrument of transfer in the form satisfactory to the Certificate
Registrar duly executed by, the Holder hereof or his attorney duly authorized in
writing, and thereupon one or more new Certificates of the same Class in
authorized denominations evidencing the same aggregate Percentage Interest will
be issued to the designated transferee or transferees.

   No service charge will be imposed for any registration of transfer or
exchange of Certificates, but the Trustee or the Certificate Registrar may
require payment of a sum sufficient to cover any tax or other governmental
charge that may be imposed in connection with any transfer or exchange of
Certificates.

   For so long as this Certificate is registered in the name of Cede & Co., or
in such other name as is requested by an authorized representative of DTC,
transfers of interests in this Certificate shall be made through the book entry
facilities of DTC.

   Prior to due presentment of this Certificate for registration of transfer,
the Depositor, the Master Servicer, the Special Servicer, the Trustee, the REMIC
Administrator, the Certificate Registrar and any agents of any of them may treat
the Person in whose name this Certificate is registered as the owner hereof for
all purposes, and none of the Depositor, the Master Servicer, the Special
Servicer, the Trustee, the REMIC Administrator, the Certificate Registrar or any
such agent shall be affected by notice to the contrary.

   The Trust Fund and the obligations created by the Agreement shall terminate
upon distribution (or provision for distribution) to the Certificateholders of
all amounts held by or on behalf of the Trustee and required to be distributed
to them pursuant to the Agreement following the earlier of (i) the purchase by
the Majority Certificateholder of the Controlling Class (other than the
Depositor or any Mortgage Loan Seller), the Master Servicer or the Special
Servicer (in that order of priority) of all Mortgage Loans and each REO Property
remaining in REMIC I at a price determined as provided in the Agreement, and
(ii) the final payment or other liquidation (or any Advance with respect
thereto) of the last Mortgage Loan or REO Property remaining in REMIC I. The
Agreement permits, but does not require, any such Majority Certificateholder,
the Master Servicer or the Special Servicer to purchase from the Trust Fund all
Mortgage Loans and any REO Properties remaining therein. The exercise of such
right will effect early retirement of the Certificates; however, such right to
purchase is subject to the aggregate Stated Principal Balance of the Mortgage
Pool at the time of purchase being less than 1% of the Initial Pool Balance
specified on the face hereof.

   The Agreement permits, with certain exceptions therein provided, the
amendment thereof, and the modification of the rights and obligations of the
Depositor, the Master Servicer, the Special Servicer and the Trustee and REMIC
Administrator thereunder and the rights of the Certificateholders thereunder, at
any time by the Depositor, the Master Servicer, the Special Servicer and the
Trustee and REMIC Administrator with the consent of the Holders of Certificates
entitled to at least 51% of the Voting Rights allocated to the affected Classes.
Any such consent by the Holder of this Certificate shall be conclusive and
binding on such Holder and upon all future Holders of this Certificate and of
any Certificate issued upon the transfer hereof or in exchange herefor or in
lieu hereof whether or not notation of such consent is made upon this
Certificate. The Agreement also permits the amendment thereof, in certain
circumstances, including any amendment necessary to maintain the status of REMIC
I or REMIC II as a REMIC, without the consent of the Holders of any of the
Certificates.

   Unless the certificate of authentication hereon has been executed by the
Certificate Registrar, by manual signature, this Certificate shall not be
entitled to any benefit under the Agreement or be valid for any purpose.

   The registered Holder hereof, by its acceptance hereof, agrees that it will
look solely to the Trust Fund (to the extent of its rights therein) for
distributions hereunder.

   This Certificate shall be construed in accordance with the internal laws of
the State of New York that are applicable to agreements negotiated, made and to
be performed in said State, and the obligations, rights and remedies of the
Holder hereof shall be determined in accordance with such laws.

<PAGE>

   IN WITNESS WHEREOF, the Trustee has caused this Certificate to be duly
executed.

                                       LaSalle Bank National Association,
                                       as Trustee

                                       By:____________________________________
                                          Authorized Signatory

                          CERTIFICATE OF AUTHENTICATION

   This is one of the Class A-M Certificates referred to in the within mentioned
Agreement.

Dated:

                                       LaSalle Bank National Association,
                                       as Certificate Registrar

                                       By:____________________________________
                                          Authorized Signatory

<PAGE>

                                   ASSIGNMENT

   FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s)
unto ______________________________________________________ (please print or
typewrite name and address including postal zip code of assignee) the beneficial
ownership interest in the Trust Fund evidenced by the within Commercial Mortgage
Pass-Through Certificate and hereby authorize(s) the registration of transfer of
such interest to the above named assignee on the Certificate Register of the
Trust Fund.

I (we) further direct the issuance of a new Commercial Mortgage Pass-Through
Certificate of a like Percentage Interest and Class to the above named assignee
and delivery of such Commercial Mortgage Pass-Through Certificate to the
following address: _____________________________________________________________
________________________________________________________________________________

Dated:

                                          ______________________________________
                                           Signature by or on behalf of Assignor

                                          ______________________________________
                                                    Signature Guaranteed

                            DISTRIBUTION INSTRUCTIONS

   The assignee should include the following for purposes of distribution:

   Distributions shall, if permitted, be made by wire transfer or otherwise, in
immediately available funds, to  ______________________________________ for the
account of _________________________________________________.

   Distributions made by check (such check to be made payable to
____________________________________) and all applicable statements and notices
should be mailed to _______________________________________________.

   This information is provided by _______________________________________, the
assignee named above, or _________________________________________, as its
agent.

<PAGE>

                                   Exhibit A-9
                          Form of Class A-J Certificate

                          CLASS A-J COMMERCIAL MORTGAGE
                            PASS-THROUGH CERTIFICATE,
                                  SERIES 2006-2

This is one of a series of commercial mortgage pass-through certificates
(collectively, the "Certificates"), issued in multiple classes (each, a
"Class"), which series of Certificates evidences the entire beneficial ownership
interest in a trust fund (the "Trust Fund") consisting primarily of a pool (the
"Mortgage Pool") of multifamily and commercial mortgage loans (the "Mortgage
Loans"), such pool being formed and sold by:

                    BANC OF AMERICA COMMERCIAL MORTGAGE INC.

Pass-Through Rate:                       Certificate Principal Balance of this
5.7757% per annum                        Certificate as of the Issue Date:
                                         $[215,927,000]

Date of Pooling and Servicing Agreement: Class Principal Balance of all the
June 1, 2006                             Class A-J Certificates as of the Issue
                                         Date:
                                         $[215,927,000]

Cut-off Date:                            Initial Pool Balance: $[2,699,084,457]
June 1, 2006

Issue Date:
June 22, 2006

First Distribution Date:
July 10, 2006

Master Servicer:                         Trustee and REMIC Administrator:
Bank of America, N.A.                    LaSalle Bank National Association

Special Servicer:
LNR Partners, Inc.

Certificate No.: A-J-[__]                CUSIP No.: [________]

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST CORPORATION, A NEW YORK CORPORATION ("DTC"), TO THE DEPOSITOR,
THE TRUSTEE, THE CERTIFICATE REGISTRAR OR ANY AGENT THEREOF FOR REGISTRATION OF
TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER
ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER,
PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
HEREIN.

THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN BANC OF
AMERICA COMMERCIAL MORTGAGE INC., BANK OF AMERICA, N.A., LNR PARTNERS, INC.,
LASALLE BANK NATIONAL ASSOCIATION OR ANY OF THEIR RESPECTIVE AFFILIATES. NEITHER
THIS CERTIFICATE NOR THE MORTGAGE LOANS ARE GUARANTEED BY ANY AGENCY OR
INSTRUMENTALITY OF THE UNITED STATES OR ANY OTHER PERSON.

THE CLASS OF CERTIFICATES TO WHICH THIS CERTIFICATE BELONGS IS SUBORDINATE TO
ONE OR MORE OTHER CLASSES OF CERTIFICATES OF THE SAME SERIES, AS AND TO THE
EXTENT PROVIDED IN THE AGREEMENT REFERRED TO HEREIN.

THE HOLDER OF THIS CERTIFICATE BY ITS ACCEPTANCE HEREOF AGREES NOT TO OFFER,
SELL OR OTHERWISE TRANSFER SUCH CERTIFICATE EXCEPT IN ACCORDANCE WITH ALL
APPLICABLE STATE SECURITIES LAWS AND (A) PURSUANT TO A REGISTRATION STATEMENT
WHICH HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT, (B) FOR SO LONG AS
THIS CERTIFICATE IS ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE
SECURITIES ACT ("RULE 144A"), TO A PERSON WHO THE SELLER REASONABLY BELIEVES IS
A "QUALIFIED INSTITUTIONAL BUYER" AS DEFINED IN RULE 144A IN A TRANSACTION
MEETING THE REQUIREMENTS OF RULE 144A, (C) TO AN INSTITUTIONAL "ACCREDITED
INVESTOR" WITHIN THE MEANING OF RULE 501 (A)(1), (2), (3) OR (7) OF REGULATION D
UNDER THE SECURITIES ACT IN A TRANSACTION EXEMPT FROM THE REGISTRATION
REQUIREMENTS UNDER THE SECURITIES ACT, OR (D) PURSUANT TO ANOTHER AVAILABLE
EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT, SUBJECT IN
EACH OF THE FOREGOING CASES TO THE COMPLETION AND DELIVERY BY THE TRANSFEROR TO
THE TRUSTEE OF AN INVESTMENT REPRESENTATION LETTER.

FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE REPRESENTS A "REGULAR
INTEREST" IN A "REAL ESTATE MORTGAGE INVESTMENT CONDUIT" (A "REMIC") AS THOSE
TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL
REVENUE CODE OF 1986, AS AMENDED.

THE OUTSTANDING CERTIFICATE PRINCIPAL BALANCE HEREOF OF AT ANY TIME MAY BE LESS
THAN THE AMOUNT SHOWN ABOVE.

   This certifies that Cede & Co. is the registered owner of the Percentage
Interest evidenced by this Certificate (obtained by dividing the principal
balance of this Certificate (its "Certificate Principal Balance") as of the
Issue Date by the aggregate principal balance of all the Certificates of the
same Class as this Certificate (their "Class Principal Balance") as of the Issue
Date) in that certain beneficial ownership interest in the Trust Fund evidenced
by all the Certificates of the same Class as this Certificate. The Trust Fund
was created and the Certificates were issued pursuant to a Pooling and Servicing
Agreement, dated as specified above (the "Agreement"), among Banc of America
Commercial Mortgage Inc., as Depositor, and the Master Servicer, the Special
Servicer and the Trustee and REMIC Administrator identified above. To the extent
not defined herein, the capitalized terms used herein have the respective
meanings assigned in the Agreement. This Certificate is issued under and is
subject to the terms, provisions and conditions of the Agreement, to which
Agreement the Holder of this Certificate by virtue of the acceptance hereof
assents and by which such Holder is bound.

   Pursuant to the terms of the Agreement, distributions will be made on the
10th day of each month or, if such 10th day is not a Business Day, the Business
Day immediately following (each, a "Distribution Date"), commencing on the first
Distribution Date specified above, to the Person in whose name this Certificate
is registered at the close of business on the last Business Day of the month
immediately preceding the month of such distribution (the "Record Date"), in an
amount equal to the product of the Percentage Interest evidenced by this
Certificate and the amount required to be distributed pursuant to the Agreement
on the applicable Distribution Date in respect of the Class of Certificates to
which this Certificate belongs. All distributions made under the Agreement in
respect of this Certificate will be made by the Trustee by wire transfer in
immediately available funds to the account of the Person entitled thereto at a
bank or other entity having appropriate facilities therefor, if such
Certificateholder shall have provided the Trustee with written wiring
instructions no less than five (5) Business Days prior to the Record Date for
such distribution (which wiring instructions may be in the form of a standing
order applicable to all subsequent distributions as well), or otherwise by check
mailed to the address of such Certificateholder appearing in the Certificate
Register. Notwithstanding the above, the final distribution in respect of this
Certificate (determined without regard to any possible future reimbursement of
any Realized Loss or Additional Trust Fund Expense previously allocated to this
Certificate) will be made after due notice by the Trustee of the pendency of
such distribution and only upon presentation and surrender of this Certificate
at the offices of the Certificate Registrar appointed as provided in the
Agreement or such other location as may be specified in such notice. Also
notwithstanding the foregoing, any distribution that may be made with respect to
this Certificate in reimbursement of any Realized Loss or Additional Trust Fund
Expense previously allocated to this Certificate, which reimbursement is to
occur after the date on which this Certificate is surrendered as contemplated by
the preceding sentence, will be made by check mailed to the address of the
Holder that surrenders this Certificate as such address last appeared in the
Certificate Register or to any such other address of which the Trustee is
subsequently notified in writing.

   Any distribution to the Holder of this Certificate in reduction of the
Certificate Principal Balance hereof is binding on such Holder and all future
Holders of this Certificate and any Certificate issued upon the transfer hereof
or in exchange herefor or in lieu hereof whether or not notation of such
distribution is made upon this Certificate.

   The Certificates are limited in right of distribution to certain collections
and recoveries respecting the Mortgage Loans, all as more specifically set forth
herein and in the Agreement. As provided in the Agreement, withdrawals from the
Certificate Account, the Distribution Account and, if established, the REO
Account may be made from time to time for purposes other than, and, in certain
cases, prior to, distributions to Certificateholders, such purposes including
the reimbursement of advances made, or certain expenses incurred, with respect
to the Mortgage Loans and the payment of interest on such advances and expenses.

   The Certificates are issuable in fully registered form only without coupons
in minimum denominations specified in the Agreement. As provided in the
Agreement and subject to certain limitations therein set forth, the Certificates
are exchangeable for new Certificates of the same Class in authorized
denominations evidencing the same aggregate Percentage Interest, as requested by
the Holder surrendering the same.

   As provided in the Agreement and subject to certain limitations therein set
forth, the transfer of this Certificate is registrable in the Certificate
Register upon surrender of this Certificate for registration of transfer at the
offices of the Certificate Registrar, duly endorsed by, or accompanied by a
written instrument of transfer in the form satisfactory to the Certificate
Registrar duly executed by, the Holder hereof or his attorney duly authorized in
writing, and thereupon one or more new Certificates of the same Class in
authorized denominations evidencing the same aggregate Percentage Interest will
be issued to the designated transferee or transferees.

   No service charge will be imposed for any registration of transfer or
exchange of Certificates, but the Trustee or the Certificate Registrar may
require payment of a sum sufficient to cover any tax or other governmental
charge that may be imposed in connection with any transfer or exchange of
Certificates.

   For so long as this Certificate is registered in the name of Cede & Co., or
in such other name as is requested by an authorized representative of DTC,
transfers of interests in this Certificate shall be made through the book entry
facilities of DTC.

   Prior to due presentment of this Certificate for registration of transfer,
the Depositor, the Master Servicer, the Special Servicer, the Trustee, the REMIC
Administrator, the Certificate Registrar and any agents of any of them may treat
the Person in whose name this Certificate is registered as the owner hereof for
all purposes, and none of the Depositor, the Master Servicer, the Special
Servicer, the Trustee, the REMIC Administrator, the Certificate Registrar or any
such agent shall be affected by notice to the contrary.

   The Trust Fund and the obligations created by the Agreement shall terminate
upon distribution (or provision for distribution) to the Certificateholders of
all amounts held by or on behalf of the Trustee and required to be distributed
to them pursuant to the Agreement following the earlier of (i) the purchase by
the Majority Certificateholder of the Controlling Class (other than the
Depositor or any Mortgage Loan Seller), the Master Servicer or the Special
Servicer (in that order of priority) of all Mortgage Loans and each REO Property
remaining in REMIC I at a price determined as provided in the Agreement, and
(ii) the final payment or other liquidation (or any Advance with respect
thereto) of the last Mortgage Loan or REO Property remaining in REMIC I. The
Agreement permits, but does not require, any such Majority Certificateholder,
the Master Servicer or the Special Servicer to purchase from the Trust Fund all
Mortgage Loans and any REO Properties remaining therein. The exercise of such
right will effect early retirement of the Certificates; however, such right to
purchase is subject to the aggregate Stated Principal Balance of the Mortgage
Pool at the time of purchase being less than 1% of the Initial Pool Balance
specified on the face hereof.

   The Agreement permits, with certain exceptions therein provided, the
amendment thereof, and the modification of the rights and obligations of the
Depositor, the Master Servicer, the Special Servicer and the Trustee and REMIC
Administrator thereunder and the rights of the Certificateholders thereunder, at
any time by the Depositor, the Master Servicer, the Special Servicer and the
Trustee and REMIC Administrator with the consent of the Holders of Certificates
entitled to at least 51% of the Voting Rights allocated to the affected Classes.
Any such consent by the Holder of this Certificate shall be conclusive and
binding on such Holder and upon all future Holders of this Certificate and of
any Certificate issued upon the transfer hereof or in exchange herefor or in
lieu hereof whether or not notation of such consent is made upon this
Certificate. The Agreement also permits the amendment thereof, in certain
circumstances, including any amendment necessary to maintain the status of REMIC
I or REMIC II as a REMIC, without the consent of the Holders of any of the
Certificates.

   Unless the certificate of authentication hereon has been executed by the
Certificate Registrar, by manual signature, this Certificate shall not be
entitled to any benefit under the Agreement or be valid for any purpose.

   The registered Holder hereof, by its acceptance hereof, agrees that it will
look solely to the Trust Fund (to the extent of its rights therein) for
distributions hereunder.

   This Certificate shall be construed in accordance with the internal laws of
the State of New York that are applicable to agreements negotiated, made and to
be performed in said State, and the obligations, rights and remedies of the
Holder hereof shall be determined in accordance with such laws.

<PAGE>

   IN WITNESS WHEREOF, the Trustee has caused this Certificate to be duly
executed.

                                       LaSalle Bank National Association,
                                       as Trustee

                                       By:____________________________________
                                          Authorized Signatory

                          CERTIFICATE OF AUTHENTICATION

   This is one of the Class A-J Certificates referred to in the within mentioned
Agreement.

Dated:

                                       LaSalle Bank National Association,
                                       as Certificate Registrar

                                       By:____________________________________
                                          Authorized Signatory

<PAGE>

                                   ASSIGNMENT

   FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s)
unto ______________________________________________________ (please print or
typewrite name and address including postal zip code of assignee) the beneficial
ownership interest in the Trust Fund evidenced by the within Commercial Mortgage
Pass-Through Certificate and hereby authorize(s) the registration of transfer of
such interest to the above named assignee on the Certificate Register of the
Trust Fund.

I (we) further direct the issuance of a new Commercial Mortgage Pass-Through
Certificate of a like Percentage Interest and Class to the above named assignee
and delivery of such Commercial Mortgage Pass-Through Certificate to the
following address: _____________________________________________________________
________________________________________________________________________________

Dated:

                                          ______________________________________
                                           Signature by or on behalf of Assignor

                                          ______________________________________
                                                    Signature Guaranteed

                            DISTRIBUTION INSTRUCTIONS

   The assignee should include the following for purposes of distribution:

   Distributions shall, if permitted, be made by wire transfer or otherwise, in
immediately available funds, to  ______________________________________ for the
account of _________________________________________________.

   Distributions made by check (such check to be made payable to
____________________________________) and all applicable statements and notices
should be mailed to _______________________________________________.

   This information is provided by _______________________________________, the
assignee named above, or _________________________________________, as its
agent.

<PAGE>

                                  Exhibit A-10
                           Form of Class B Certificate

                           CLASS B COMMERCIAL MORTGAGE
                            PASS-THROUGH CERTIFICATE,
                                  SERIES 2006-2

This is one of a series of commercial mortgage pass-through certificates
(collectively, the "Certificates"), issued in multiple classes (each, a
"Class"), which series of Certificates evidences the entire beneficial ownership
interest in a trust fund (the "Trust Fund") consisting primarily of a pool (the
"Mortgage Pool") of multifamily and commercial mortgage loans (the "Mortgage
Loans"), such pool being formed and sold by:

                    BANC OF AMERICA COMMERCIAL MORTGAGE INC.

Pass-Through Rate:                       Certificate Principal Balance of this
5.7757% per annum                        Certificate as of the Issue Date:
                                         $[50,608,000]

Date of Pooling and Servicing Agreement: Class Principal Balance of all the
June 1, 2006                             Class B Certificates as of the Issue
                                         Date:
                                         $[50,608,000]

Cut-off Date:                            Initial Pool Balance: $[2,699,084,457]
June 1, 2006

Issue Date:
June 22, 2006

First Distribution Date:
July 10, 2006

Master Servicer:                         Trustee and REMIC Administrator:
Bank of America, N.A.                    LaSalle Bank National Association

Special Servicer:
LNR Partners, Inc.

Certificate No.: B-[__]                  CUSIP No.: [________]

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST CORPORATION, A NEW YORK CORPORATION ("DTC"), TO THE DEPOSITOR,
THE TRUSTEE, THE CERTIFICATE REGISTRAR OR ANY AGENT THEREOF FOR REGISTRATION OF
TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER
ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER,
PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
HEREIN.

THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN BANC OF
AMERICA COMMERCIAL MORTGAGE INC., BANK OF AMERICA, N.A., LNR PARTNERS, INC.,
LASALLE BANK NATIONAL ASSOCIATION OR ANY OF THEIR RESPECTIVE AFFILIATES. NEITHER
THIS CERTIFICATE NOR THE MORTGAGE LOANS ARE GUARANTEED BY ANY AGENCY OR
INSTRUMENTALITY OF THE UNITED STATES OR ANY OTHER PERSON.

THE CLASS OF CERTIFICATES TO WHICH THIS CERTIFICATE BELONGS IS SUBORDINATE TO
ONE OR MORE OTHER CLASSES OF CERTIFICATES OF THE SAME SERIES, AS AND TO THE
EXTENT PROVIDED IN THE AGREEMENT REFERRED TO HEREIN.

THE HOLDER OF THIS CERTIFICATE BY ITS ACCEPTANCE HEREOF AGREES NOT TO OFFER,
SELL OR OTHERWISE TRANSFER SUCH CERTIFICATE EXCEPT IN ACCORDANCE WITH ALL
APPLICABLE STATE SECURITIES LAWS AND (A) PURSUANT TO A REGISTRATION STATEMENT
WHICH HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT, (B) FOR SO LONG AS
THIS CERTIFICATE IS ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE
SECURITIES ACT ("RULE 144A"), TO A PERSON WHO THE SELLER REASONABLY BELIEVES IS
A "QUALIFIED INSTITUTIONAL BUYER" AS DEFINED IN RULE 144A IN A TRANSACTION
MEETING THE REQUIREMENTS OF RULE 144A, (C) TO AN INSTITUTIONAL "ACCREDITED
INVESTOR" WITHIN THE MEANING OF RULE 501 (A)(1), (2), (3) OR (7) OF REGULATION D
UNDER THE SECURITIES ACT IN A TRANSACTION EXEMPT FROM THE REGISTRATION
REQUIREMENTS UNDER THE SECURITIES ACT, OR (D) PURSUANT TO ANOTHER AVAILABLE
EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT, SUBJECT IN
EACH OF THE FOREGOING CASES TO THE COMPLETION AND DELIVERY BY THE TRANSFEROR TO
THE TRUSTEE OF AN INVESTMENT REPRESENTATION LETTER.

FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE REPRESENTS A "REGULAR
INTEREST" IN A "REAL ESTATE MORTGAGE INVESTMENT CONDUIT" (A "REMIC") AS THOSE
TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL
REVENUE CODE OF 1986, AS AMENDED.

THE OUTSTANDING CERTIFICATE PRINCIPAL BALANCE HEREOF OF AT ANY TIME MAY BE LESS
THAN THE AMOUNT SHOWN ABOVE.

   This certifies that Cede & Co. is the registered owner of the Percentage
Interest evidenced by this Certificate (obtained by dividing the principal
balance of this Certificate (its "Certificate Principal Balance") as of the
Issue Date by the aggregate principal balance of all the Certificates of the
same Class as this Certificate (their "Class Principal Balance") as of the Issue
Date) in that certain beneficial ownership interest in the Trust Fund evidenced
by all the Certificates of the same Class as this Certificate. The Trust Fund
was created and the Certificates were issued pursuant to a Pooling and Servicing
Agreement, dated as specified above (the "Agreement"), among Banc of America
Commercial Mortgage Inc., as Depositor, and the Master Servicer, the Special
Servicer and the Trustee and REMIC Administrator identified above. To the extent
not defined herein, the capitalized terms used herein have the respective
meanings assigned in the Agreement. This Certificate is issued under and is
subject to the terms, provisions and conditions of the Agreement, to which
Agreement the Holder of this Certificate by virtue of the acceptance hereof
assents and by which such Holder is bound.

   Pursuant to the terms of the Agreement, distributions will be made on the
10th day of each month or, if such 10th day is not a Business Day, the Business
Day immediately following (each, a "Distribution Date"), commencing on the first
Distribution Date specified above, to the Person in whose name this Certificate
is registered at the close of business on the last Business Day of the month
immediately preceding the month of such distribution (the "Record Date"), in an
amount equal to the product of the Percentage Interest evidenced by this
Certificate and the amount required to be distributed pursuant to the Agreement
on the applicable Distribution Date in respect of the Class of Certificates to
which this Certificate belongs. All distributions made under the Agreement in
respect of this Certificate will be made by the Trustee by wire transfer in
immediately available funds to the account of the Person entitled thereto at a
bank or other entity having appropriate facilities therefor, if such
Certificateholder shall have provided the Trustee with written wiring
instructions no less than five (5) Business Days prior to the Record Date for
such distribution (which wiring instructions may be in the form of a standing
order applicable to all subsequent distributions as well), or otherwise by check
mailed to the address of such Certificateholder appearing in the Certificate
Register. Notwithstanding the above, the final distribution in respect of this
Certificate (determined without regard to any possible future reimbursement of
any Realized Loss or Additional Trust Fund Expense previously allocated to this
Certificate) will be made after due notice by the Trustee of the pendency of
such distribution and only upon presentation and surrender of this Certificate
at the offices of the Certificate Registrar appointed as provided in the
Agreement or such other location as may be specified in such notice. Also
notwithstanding the foregoing, any distribution that may be made with respect to
this Certificate in reimbursement of any Realized Loss or Additional Trust Fund
Expense previously allocated to this Certificate, which reimbursement is to
occur after the date on which this Certificate is surrendered as contemplated by
the preceding sentence, will be made by check mailed to the address of the
Holder that surrenders this Certificate as such address last appeared in the
Certificate Register or to any such other address of which the Trustee is
subsequently notified in writing.

   Any distribution to the Holder of this Certificate in reduction of the
Certificate Principal Balance hereof is binding on such Holder and all future
Holders of this Certificate and any Certificate issued upon the transfer hereof
or in exchange herefor or in lieu hereof whether or not notation of such
distribution is made upon this Certificate.

   The Certificates are limited in right of distribution to certain collections
and recoveries respecting the Mortgage Loans, all as more specifically set forth
herein and in the Agreement. As provided in the Agreement, withdrawals from the
Certificate Account, the Distribution Account and, if established, the REO
Account may be made from time to time for purposes other than, and, in certain
cases, prior to, distributions to Certificateholders, such purposes including
the reimbursement of advances made, or certain expenses incurred, with respect
to the Mortgage Loans and the payment of interest on such advances and expenses.

   The Certificates are issuable in fully registered form only without coupons
in minimum denominations specified in the Agreement. As provided in the
Agreement and subject to certain limitations therein set forth, the Certificates
are exchangeable for new Certificates of the same Class in authorized
denominations evidencing the same aggregate Percentage Interest, as requested by
the Holder surrendering the same.

   As provided in the Agreement and subject to certain limitations therein set
forth, the transfer of this Certificate is registrable in the Certificate
Register upon surrender of this Certificate for registration of transfer at the
offices of the Certificate Registrar, duly endorsed by, or accompanied by a
written instrument of transfer in the form satisfactory to the Certificate
Registrar duly executed by, the Holder hereof or his attorney duly authorized in
writing, and thereupon one or more new Certificates of the same Class in
authorized denominations evidencing the same aggregate Percentage Interest will
be issued to the designated transferee or transferees.

   No service charge will be imposed for any registration of transfer or
exchange of Certificates, but the Trustee or the Certificate Registrar may
require payment of a sum sufficient to cover any tax or other governmental
charge that may be imposed in connection with any transfer or exchange of
Certificates.

   For so long as this Certificate is registered in the name of Cede & Co., or
in such other name as is requested by an authorized representative of DTC,
transfers of interests in this Certificate shall be made through the book entry
facilities of DTC.

   Prior to due presentment of this Certificate for registration of transfer,
the Depositor, the Master Servicer, the Special Servicer, the Trustee, the REMIC
Administrator, the Certificate Registrar and any agents of any of them may treat
the Person in whose name this Certificate is registered as the owner hereof for
all purposes, and none of the Depositor, the Master Servicer, the Special
Servicer, the Trustee, the REMIC Administrator, the Certificate Registrar or any
such agent shall be affected by notice to the contrary.

   The Trust Fund and the obligations created by the Agreement shall terminate
upon distribution (or provision for distribution) to the Certificateholders of
all amounts held by or on behalf of the Trustee and required to be distributed
to them pursuant to the Agreement following the earlier of (i) the purchase by
the Majority Certificateholder of the Controlling Class (other than the
Depositor or any Mortgage Loan Seller), the Master Servicer or the Special
Servicer (in that order of priority) of all Mortgage Loans and each REO Property
remaining in REMIC I at a price determined as provided in the Agreement, and
(ii) the final payment or other liquidation (or any Advance with respect
thereto) of the last Mortgage Loan or REO Property remaining in REMIC I. The
Agreement permits, but does not require, any such Majority Certificateholder,
the Master Servicer or the Special Servicer to purchase from the Trust Fund all
Mortgage Loans and any REO Properties remaining therein. The exercise of such
right will effect early retirement of the Certificates; however, such right to
purchase is subject to the aggregate Stated Principal Balance of the Mortgage
Pool at the time of purchase being less than 1% of the Initial Pool Balance
specified on the face hereof.

   The Agreement permits, with certain exceptions therein provided, the
amendment thereof, and the modification of the rights and obligations of the
Depositor, the Master Servicer, the Special Servicer and the Trustee and REMIC
Administrator thereunder and the rights of the Certificateholders thereunder, at
any time by the Depositor, the Master Servicer, the Special Servicer and the
Trustee and REMIC Administrator with the consent of the Holders of Certificates
entitled to at least 51% of the Voting Rights allocated to the affected Classes.
Any such consent by the Holder of this Certificate shall be conclusive and
binding on such Holder and upon all future Holders of this Certificate and of
any Certificate issued upon the transfer hereof or in exchange herefor or in
lieu hereof whether or not notation of such consent is made upon this
Certificate. The Agreement also permits the amendment thereof, in certain
circumstances, including any amendment necessary to maintain the status of REMIC
I or REMIC II as a REMIC, without the consent of the Holders of any of the
Certificates.

   Unless the certificate of authentication hereon has been executed by the
Certificate Registrar, by manual signature, this Certificate shall not be
entitled to any benefit under the Agreement or be valid for any purpose.

   The registered Holder hereof, by its acceptance hereof, agrees that it will
look solely to the Trust Fund (to the extent of its rights therein) for
distributions hereunder.

   This Certificate shall be construed in accordance with the internal laws of
the State of New York that are applicable to agreements negotiated, made and to
be performed in said State, and the obligations, rights and remedies of the
Holder hereof shall be determined in accordance with such laws.

<PAGE>

   IN WITNESS WHEREOF, the Trustee has caused this Certificate to be duly
executed.

                                       LaSalle Bank National Association,
                                       as Trustee

                                       By:____________________________________
                                          Authorized Signatory

                          CERTIFICATE OF AUTHENTICATION

   This is one of the Class B Certificates referred to in the within mentioned
Agreement.

Dated:

                                       LaSalle Bank National Association,
                                       as Certificate Registrar

                                       By:____________________________________
                                          Authorized Signatory

<PAGE>

                                   ASSIGNMENT

   FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s)
unto ______________________________________________________ (please print or
typewrite name and address including postal zip code of assignee) the beneficial
ownership interest in the Trust Fund evidenced by the within Commercial Mortgage
Pass-Through Certificate and hereby authorize(s) the registration of transfer of
such interest to the above named assignee on the Certificate Register of the
Trust Fund.

I (we) further direct the issuance of a new Commercial Mortgage Pass-Through
Certificate of a like Percentage Interest and Class to the above named assignee
and delivery of such Commercial Mortgage Pass-Through Certificate to the
following address: _____________________________________________________________
________________________________________________________________________________

Dated:

                                          ______________________________________
                                           Signature by or on behalf of Assignor

                                          ______________________________________
                                                    Signature Guaranteed

                            DISTRIBUTION INSTRUCTIONS

   The assignee should include the following for purposes of distribution:

   Distributions shall, if permitted, be made by wire transfer or otherwise, in
immediately available funds, to  ______________________________________ for the
account of _________________________________________________.

   Distributions made by check (such check to be made payable to
____________________________________) and all applicable statements and notices
should be mailed to _______________________________________________.

   This information is provided by _______________________________________, the
assignee named above, or _________________________________________, as its
agent.

<PAGE>

                                  Exhibit A-11
                           Form of Class C Certificate

                           CLASS C COMMERCIAL MORTGAGE
                     PASS-THROUGH CERTIFICATE, SERIES 2006-2

This is one of a series of commercial mortgage pass-through certificates
(collectively, the "Certificates"), issued in multiple classes (each, a
"Class"), which series of Certificates evidences the entire beneficial ownership
interest in a trust fund (the "Trust Fund") consisting primarily of a pool (the
"Mortgage Pool") of multifamily and commercial mortgage loans (the "Mortgage
Loans"), such pool being formed and sold by:

                    BANC OF AMERICA COMMERCIAL MORTGAGE INC.

Pass-Through Rate:                       Certificate Principal Balance of this
5.7757% per annum                        Certificate as of the Issue Date:
                                         $[26,991,000]

Date of Pooling and Servicing Agreement: Class Principal Balance of all the
June 1, 2006                             Class C Certificates as of the Issue
                                         Date:
                                         $[26,991,000]

Cut-off Date:                            Initial Pool Balance: $[2,699,084,457]
June 1, 2006

Issue Date:
June 22, 2006

First Distribution Date:
July 10, 2006

Master Servicer:                         Trustee and REMIC Administrator:
Bank of America, N.A.                    LaSalle Bank National Association

Special Servicer:
LNR Partners, Inc.

Certificate No.: C-[__]                  CUSIP No.: [________]

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST CORPORATION, A NEW YORK CORPORATION ("DTC"), TO THE DEPOSITOR,
THE TRUSTEE, THE CERTIFICATE REGISTRAR OR ANY AGENT THEREOF FOR REGISTRATION OF
TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER
ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER,
PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
HEREIN.

THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN BANC OF
AMERICA COMMERCIAL MORTGAGE INC., BANK OF AMERICA, N.A., LNR PARTNERS, INC.,
LASALLE BANK NATIONAL ASSOCIATION OR ANY OF THEIR RESPECTIVE AFFILIATES. NEITHER
THIS CERTIFICATE NOR THE MORTGAGE LOANS ARE GUARANTEED BY ANY AGENCY OR
INSTRUMENTALITY OF THE UNITED STATES OR ANY OTHER PERSON.

THE CLASS OF CERTIFICATES TO WHICH THIS CERTIFICATE BELONGS IS SUBORDINATE TO
ONE OR MORE OTHER CLASSES OF CERTIFICATES OF THE SAME SERIES, AS AND TO THE
EXTENT PROVIDED IN THE AGREEMENT REFERRED TO HEREIN.

THE HOLDER OF THIS CERTIFICATE BY ITS ACCEPTANCE HEREOF AGREES NOT TO OFFER,
SELL OR OTHERWISE TRANSFER SUCH CERTIFICATE EXCEPT IN ACCORDANCE WITH ALL
APPLICABLE STATE SECURITIES LAWS AND (A) PURSUANT TO A REGISTRATION STATEMENT
WHICH HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT, (B) FOR SO LONG AS
THIS CERTIFICATE IS ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE
SECURITIES ACT ("RULE 144A"), TO A PERSON WHO THE SELLER REASONABLY BELIEVES IS
A "QUALIFIED INSTITUTIONAL BUYER" AS DEFINED IN RULE 144A IN A TRANSACTION
MEETING THE REQUIREMENTS OF RULE 144A, (C) TO AN INSTITUTIONAL "ACCREDITED
INVESTOR" WITHIN THE MEANING OF RULE 501 (A)(1), (2), (3) OR (7) OF REGULATION D
UNDER THE SECURITIES ACT IN A TRANSACTION EXEMPT FROM THE REGISTRATION
REQUIREMENTS UNDER THE SECURITIES ACT, OR (D) PURSUANT TO ANOTHER AVAILABLE
EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT, SUBJECT IN
EACH OF THE FOREGOING CASES TO THE COMPLETION AND DELIVERY BY THE TRANSFEROR TO
THE TRUSTEE OF AN INVESTMENT REPRESENTATION LETTER.

FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE REPRESENTS A "REGULAR
INTEREST" IN A "REAL ESTATE MORTGAGE INVESTMENT CONDUIT" (A "REMIC") AS THOSE
TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL
REVENUE CODE OF 1986, AS AMENDED.

THE OUTSTANDING CERTIFICATE PRINCIPAL BALANCE HEREOF OF AT ANY TIME MAY BE LESS
THAN THE AMOUNT SHOWN ABOVE.

   This certifies that Cede & Co. is the registered owner of the Percentage
Interest evidenced by this Certificate (obtained by dividing the principal
balance of this Certificate (its "Certificate Principal Balance") as of the
Issue Date by the aggregate principal balance of all the Certificates of the
same Class as this Certificate (their "Class Principal Balance") as of the Issue
Date) in that certain beneficial ownership interest in the Trust Fund evidenced
by all the Certificates of the same Class as this Certificate. The Trust Fund
was created and the Certificates were issued pursuant to a Pooling and Servicing
Agreement, dated as specified above (the "Agreement"), among Banc of America
Commercial Mortgage Inc., as Depositor, and the Master Servicer, the Special
Servicer and the Trustee and REMIC Administrator identified above. To the extent
not defined herein, the capitalized terms used herein have the respective
meanings assigned in the Agreement. This Certificate is issued under and is
subject to the terms, provisions and conditions of the Agreement, to which
Agreement the Holder of this Certificate by virtue of the acceptance hereof
assents and by which such Holder is bound.

   Pursuant to the terms of the Agreement, distributions will be made on the
10th day of each month or, if such 10th day is not a Business Day, the Business
Day immediately following (each, a "Distribution Date"), commencing on the first
Distribution Date specified above, to the Person in whose name this Certificate
is registered at the close of business on the last Business Day of the month
immediately preceding the month of such distribution (the "Record Date"), in an
amount equal to the product of the Percentage Interest evidenced by this
Certificate and the amount required to be distributed pursuant to the Agreement
on the applicable Distribution Date in respect of the Class of Certificates to
which this Certificate belongs. All distributions made under the Agreement in
respect of this Certificate will be made by the Trustee by wire transfer in
immediately available funds to the account of the Person entitled thereto at a
bank or other entity having appropriate facilities therefor, if such
Certificateholder shall have provided the Trustee with written wiring
instructions no less than five (5) Business Days prior to the Record Date for
such distribution (which wiring instructions may be in the form of a standing
order applicable to all subsequent distributions as well), or otherwise by check
mailed to the address of such Certificateholder appearing in the Certificate
Register. Notwithstanding the above, the final distribution in respect of this
Certificate (determined without regard to any possible future reimbursement of
any Realized Loss or Additional Trust Fund Expense previously allocated to this
Certificate) will be made after due notice by the Trustee of the pendency of
such distribution and only upon presentation and surrender of this Certificate
at the offices of the Certificate Registrar appointed as provided in the
Agreement or such other location as may be specified in such notice. Also
notwithstanding the foregoing, any distribution that may be made with respect to
this Certificate in reimbursement of any Realized Loss or Additional Trust Fund
Expense previously allocated to this Certificate, which reimbursement is to
occur after the date on which this Certificate is surrendered as contemplated by
the preceding sentence, will be made by check mailed to the address of the
Holder that surrenders this Certificate as such address last appeared in the
Certificate Register or to any such other address of which the Trustee is
subsequently notified in writing.

   Any distribution to the Holder of this Certificate in reduction of the
Certificate Principal Balance hereof is binding on such Holder and all future
Holders of this Certificate and any Certificate issued upon the transfer hereof
or in exchange herefor or in lieu hereof whether or not notation of such
distribution is made upon this Certificate.

   The Certificates are limited in right of distribution to certain collections
and recoveries respecting the Mortgage Loans, all as more specifically set forth
herein and in the Agreement. As provided in the Agreement, withdrawals from the
Certificate Account, the Distribution Account and, if established, the REO
Account may be made from time to time for purposes other than, and, in certain
cases, prior to, distributions to Certificateholders, such purposes including
the reimbursement of advances made, or certain expenses incurred, with respect
to the Mortgage Loans and the payment of interest on such advances and expenses.

   The Certificates are issuable in fully registered form only without coupons
in minimum denominations specified in the Agreement. As provided in the
Agreement and subject to certain limitations therein set forth, the Certificates
are exchangeable for new Certificates of the same Class in authorized
denominations evidencing the same aggregate Percentage Interest, as requested by
the Holder surrendering the same.

   As provided in the Agreement and subject to certain limitations therein set
forth, the transfer of this Certificate is registrable in the Certificate
Register upon surrender of this Certificate for registration of transfer at the
offices of the Certificate Registrar, duly endorsed by, or accompanied by a
written instrument of transfer in the form satisfactory to the Certificate
Registrar duly executed by, the Holder hereof or his attorney duly authorized in
writing, and thereupon one or more new Certificates of the same Class in
authorized denominations evidencing the same aggregate Percentage Interest will
be issued to the designated transferee or transferees.

   No service charge will be imposed for any registration of transfer or
exchange of Certificates, but the Trustee or the Certificate Registrar may
require payment of a sum sufficient to cover any tax or other governmental
charge that may be imposed in connection with any transfer or exchange of
Certificates.

   For so long as this Certificate is registered in the name of Cede & Co., or
in such other name as is requested by an authorized representative of DTC,
transfers of interests in this Certificate shall be made through the book entry
facilities of DTC.

   Prior to due presentment of this Certificate for registration of transfer,
the Depositor, the Master Servicer, the Special Servicer, the Trustee, the REMIC
Administrator, the Certificate Registrar and any agents of any of them may treat
the Person in whose name this Certificate is registered as the owner hereof for
all purposes, and none of the Depositor, the Master Servicer, the Special
Servicer, the Trustee, the REMIC Administrator, the Certificate Registrar or any
such agent shall be affected by notice to the contrary.

   The Trust Fund and the obligations created by the Agreement shall terminate
upon distribution (or provision for distribution) to the Certificateholders of
all amounts held by or on behalf of the Trustee and required to be distributed
to them pursuant to the Agreement following the earlier of (i) the purchase by
the Majority Certificateholder of the Controlling Class (other than the
Depositor or any Mortgage Loan Seller), the Master Servicer or the Special
Servicer (in that order of priority) of all Mortgage Loans and each REO Property
remaining in REMIC I at a price determined as provided in the Agreement, and
(ii) the final payment or other liquidation (or any Advance with respect
thereto) of the last Mortgage Loan or REO Property remaining in REMIC I. The
Agreement permits, but does not require, any such Majority Certificateholder,
the Master Servicer or the Special Servicer to purchase from the Trust Fund all
Mortgage Loans and any REO Properties remaining therein. The exercise of such
right will effect early retirement of the Certificates; however, such right to
purchase is subject to the aggregate Stated Principal Balance of the Mortgage
Pool at the time of purchase being less than 1% of the Initial Pool Balance
specified on the face hereof.

   The Agreement permits, with certain exceptions therein provided, the
amendment thereof, and the modification of the rights and obligations of the
Depositor, the Master Servicer, the Special Servicer and the Trustee and REMIC
Administrator thereunder and the rights of the Certificateholders thereunder, at
any time by the Depositor, the Master Servicer, the Special Servicer and the
Trustee and REMIC Administrator with the consent of the Holders of Certificates
entitled to at least 51% of the Voting Rights allocated to the affected Classes.
Any such consent by the Holder of this Certificate shall be conclusive and
binding on such Holder and upon all future Holders of this Certificate and of
any Certificate issued upon the transfer hereof or in exchange herefor or in
lieu hereof whether or not notation of such consent is made upon this
Certificate. The Agreement also permits the amendment thereof, in certain
circumstances, including any amendment necessary to maintain the status of REMIC
I or REMIC II as a REMIC, without the consent of the Holders of any of the
Certificates.

   Unless the certificate of authentication hereon has been executed by the
Certificate Registrar, by manual signature, this Certificate shall not be
entitled to any benefit under the Agreement or be valid for any purpose.

   The registered Holder hereof, by its acceptance hereof, agrees that it will
look solely to the Trust Fund (to the extent of its rights therein) for
distributions hereunder.

   This Certificate shall be construed in accordance with the internal laws of
the State of New York that are applicable to agreements negotiated, made and to
be performed in said State, and the obligations, rights and remedies of the
Holder hereof shall be determined in accordance with such laws.

<PAGE>

   IN WITNESS WHEREOF, the Trustee has caused this Certificate to be duly
executed.

                                       LaSalle Bank National Association,
                                       as Trustee

                                       By:____________________________________
                                          Authorized Signatory

                          CERTIFICATE OF AUTHENTICATION

   This is one of the Class C Certificates referred to in the within mentioned
Agreement.

Dated:

                                       LaSalle Bank National Association,
                                       as Certificate Registrar

                                       By:____________________________________
                                          Authorized Signatory

<PAGE>

                                   ASSIGNMENT

   FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s)
unto ______________________________________________________ (please print or
typewrite name and address including postal zip code of assignee) the beneficial
ownership interest in the Trust Fund evidenced by the within Commercial Mortgage
Pass-Through Certificate and hereby authorize(s) the registration of transfer of
such interest to the above named assignee on the Certificate Register of the
Trust Fund.

I (we) further direct the issuance of a new Commercial Mortgage Pass-Through
Certificate of a like Percentage Interest and Class to the above named assignee
and delivery of such Commercial Mortgage Pass-Through Certificate to the
following address: _____________________________________________________________
________________________________________________________________________________

Dated:

                                          ______________________________________
                                           Signature by or on behalf of Assignor

                                          ______________________________________
                                                    Signature Guaranteed

                            DISTRIBUTION INSTRUCTIONS

   The assignee should include the following for purposes of distribution:

   Distributions shall, if permitted, be made by wire transfer or otherwise, in
immediately available funds, to  ______________________________________ for the
account of _________________________________________________.

   Distributions made by check (such check to be made payable to
____________________________________) and all applicable statements and notices
should be mailed to _______________________________________________.

   This information is provided by _______________________________________, the
assignee named above, or _________________________________________, as its
agent.

<PAGE>

                                  Exhibit A-12
                           Form of Class D Certificate

                           CLASS D COMMERCIAL MORTGAGE
                            PASS-THROUGH CERTIFICATE,
                                  SERIES 2006-2

                     [RULE 144A](1) [REG S](2) CERTIFICATE

This is one of a series of commercial mortgage pass-through certificates
(collectively, the "Certificates"), issued in multiple classes (each, a
"Class"), which series of Certificates evidences the entire beneficial ownership
interest in a trust fund (the "Trust Fund") consisting primarily of a pool (the
"Mortgage Pool") of multifamily and commercial mortgage loans (the "Mortgage
Loans"), such pool being formed and sold by:

                    BANC OF AMERICA COMMERCIAL MORTGAGE INC.

Pass-Through Rate:                       Certificate Principal Balance of this
5.7757%                                  Certificate as of the Issue Date:
                                         $[40,486,000]

Date of Pooling and Servicing Agreement: Class Principal Balance of all the
June 1, 2006                             Class E Certificates as of the Issue
                                         Date:
                                         $[40,486,000]

Cut-off Date:                            Initial Pool Balance: $[2,699,084,457]
June 1, 2006

Issue Date:
June 22, 2006

First Distribution Date:
July 10, 2006

Master Servicer:                         Trustee and REMIC Administrator:
Bank of America, N.A.                    LaSalle Bank National Association

Special Servicer:
LNR Partners, Inc.

Certificate No.: D-[__]                 CUSIP No.: [________](1)
                                                   [________](2)

----------
(1) For Rule 144A Book-Entry Certificates only.

(2) For Reg S Book-Entry Certificates only.

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST CORPORATION, A NEW YORK CORPORATION ("DTC"), TO THE DEPOSITOR,
THE TRUSTEE, THE CERTIFICATE REGISTRAR OR ANY AGENT THEREOF FOR REGISTRATION OF
TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER
ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER,
PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
HEREIN.

THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN BANC OF
AMERICA COMMERCIAL MORTGAGE INC., BANK OF AMERICA, N.A., LNR PARTNERS, INC.,
LASALLE BANK NATIONAL ASSOCIATION OR ANY OF THEIR RESPECTIVE AFFILIATES. NEITHER
THIS CERTIFICATE NOR THE MORTGAGE LOANS ARE GUARANTEED BY ANY AGENCY OR
INSTRUMENTALITY OF THE UNITED STATES OR ANY OTHER PERSON.

THE CLASS OF CERTIFICATES TO WHICH THIS CERTIFICATE BELONGS IS SUBORDINATE TO
ONE OR MORE OTHER CLASSES OF CERTIFICATES OF THE SAME SERIES, AS AND TO THE
EXTENT PROVIDED IN THE AGREEMENT REFERRED TO HEREIN.

THIS CERTIFICATE HAS NOT BEEN REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT
OF 1933, AS AMENDED (THE "SECURITIES ACT"), OR THE SECURITIES LAWS OF ANY STATE.
ANY RESALE, TRANSFER OR OTHER DISPOSITION OF THIS CERTIFICATE WITHOUT SUCH
REGISTRATION OR QUALIFICATION MAY BE MADE ONLY IN A TRANSACTION WHICH DOES NOT
REQUIRE SUCH REGISTRATION OR QUALIFICATION AND IN ACCORDANCE WITH THE PROVISIONS
OF SECTION 5.02 OF THE AGREEMENT REFERRED TO HEREIN.

THE HOLDER OF THIS CERTIFICATE BY ITS ACCEPTANCE HEREOF AGREES NOT TO OFFER,
SELL OR OTHERWISE TRANSFER SUCH CERTIFICATE EXCEPT IN ACCORDANCE WITH ALL
APPLICABLE STATE SECURITIES LAWS AND (A) PURSUANT TO A REGISTRATION STATEMENT
WHICH HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT, (B) FOR SO LONG AS
THIS CERTIFICATE IS ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE
SECURITIES ACT ("RULE 144A"), TO A PERSON WHO THE SELLER REASONABLY BELIEVES IS
A "QUALIFIED INSTITUTIONAL BUYER" AS DEFINED IN RULE 144A IN A TRANSACTION
MEETING THE REQUIREMENTS OF RULE 144A, (C) IN AN OFFSHORE TRANSACTION COMPLYING
WITH RULE 903 OR 904 OF REGULATION S UNDER THE SECURITIES ACT, (D) TO AN
INSTITUTIONAL "ACCREDITED INVESTOR" WITHIN THE MEANING OF RULE 501 (A)(1), (2),
(3) OR (7) OF REGULATION D UNDER THE SECURITIES ACT IN A TRANSACTION EXEMPT FROM
THE REGISTRATION REQUIREMENTS UNDER THE SECURITIES ACT, OR (E) PURSUANT TO
ANOTHER AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES
ACT, SUBJECT IN EACH OF THE FOREGOING CASES TO THE COMPLETION AND DELIVERY BY
THE TRANSFEROR TO THE TRUSTEE OF AN INVESTMENT REPRESENTATION LETTER.

FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE REPRESENTS A "REGULAR
INTEREST" IN A "REAL ESTATE MORTGAGE INVESTMENT CONDUIT" (A "REMIC") AS THOSE
TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL
REVENUE CODE OF 1986, AS AMENDED.

THE OUTSTANDING CERTIFICATE PRINCIPAL BALANCE HEREOF OF AT ANY TIME MAY BE LESS
THAN THE AMOUNT SHOWN ABOVE.

   This certifies that Cede & Co. is the registered owner of the Percentage
Interest evidenced by this Certificate (obtained by dividing the principal
balance of this Certificate (its "Certificate Principal Balance") as of the
Issue Date by the aggregate principal balance of all the Certificates of the
same Class as this Certificate (their "Class Principal Balance") as of the Issue
Date) in that certain beneficial ownership interest in the Trust Fund evidenced
by all the Certificates of the same Class as this Certificate. The Trust Fund
was created and the Certificates were issued pursuant to a Pooling and Servicing
Agreement, dated as specified above (the "Agreement"), among Banc of America
Commercial Mortgage Inc., as Depositor, and the Master Servicer, the Special
Servicer and the Trustee and REMIC Administrator identified above. To the extent
not defined herein, the capitalized terms used herein have the respective
meanings assigned in the Agreement. This Certificate is issued under and is
subject to the terms, provisions and conditions of the Agreement, to which
Agreement the Holder of this Certificate by virtue of the acceptance hereof
assents and by which such Holder is bound.

   Pursuant to the terms of the Agreement, distributions will be made on the
10th day of each month or, if such 10th day is not a Business Day, the Business
Day immediately following (each, a "Distribution Date"), commencing on the first
Distribution Date specified above, to the Person in whose name this Certificate
is registered at the close of business on the last Business Day of the month
immediately preceding the month of such distribution (the "Record Date"), in an
amount equal to the product of the Percentage Interest evidenced by this
Certificate and the amount required to be distributed pursuant to the Agreement
on the applicable Distribution Date in respect of the Class of Certificates to
which this Certificate belongs. All distributions made under the Agreement in
respect of this Certificate will be made by the Trustee by wire transfer in
immediately available funds to the account of the Person entitled thereto at a
bank or other entity having appropriate facilities therefor, if such
Certificateholder shall have provided the Trustee with written wiring
instructions no less than five (5) Business Days prior to the Record Date for
such distribution (which wiring instructions may be in the form of a standing
order applicable to all subsequent distributions as well), or otherwise by check
mailed to the address of such Certificateholder appearing in the Certificate
Register. Notwithstanding the above, the final distribution in respect of this
Certificate (determined without regard to any possible future reimbursement of
any Realized Loss or Additional Trust Fund Expense previously allocated to this
Certificate) will be made after due notice by the Trustee of the pendency of
such distribution and only upon presentation and surrender of this Certificate
at the offices of the Certificate Registrar appointed as provided in the
Agreement or such other location as may be specified in such notice. Also
notwithstanding the foregoing, any distribution that may be made with respect to
this Certificate in reimbursement of any Realized Loss or Additional Trust Fund
Expense previously allocated to this Certificate, which reimbursement is to
occur after the date on which this Certificate is surrendered as contemplated by
the preceding sentence, will be made by check mailed to the address of the
Holder that surrenders this Certificate as such address last appeared in the
Certificate Register or to any such other address of which the Trustee is
subsequently notified in writing.

   Any distribution to the Holder of this Certificate in reduction of the
Certificate Principal Balance hereof is binding on such Holder and all future
Holders of this Certificate and any Certificate issued upon the transfer hereof
or in exchange herefor or in lieu hereof whether or not notation of such
distribution is made upon this Certificate.

   The Certificates are limited in right of distribution to certain collections
and recoveries respecting the Mortgage Loans, all as more specifically set forth
herein and in the Agreement. As provided in the Agreement, withdrawals from the
Certificate Account, the Distribution Account and, if established, the REO
Account may be made from time to time for purposes other than, and, in certain
cases, prior to, distributions to Certificateholders, such purposes including
the reimbursement of advances made, or certain expenses incurred, with respect
to the Mortgage Loans and the payment of interest on such advances and expenses.

   The Certificates are issuable in fully registered form only without coupons
in minimum denominations specified in the Agreement. As provided in the
Agreement and subject to certain limitations therein set forth, the Certificates
are exchangeable for new Certificates of the same Class in authorized
denominations evidencing the same aggregate Percentage Interest, as requested by
the Holder surrendering the same.

   As provided in the Agreement and subject to certain limitations therein set
forth, the transfer of this Certificate is registrable in the Certificate
Register upon surrender of this Certificate for registration of transfer at the
offices of the Certificate Registrar, duly endorsed by, or accompanied by a
written instrument of transfer in the form satisfactory to the Certificate
Registrar duly executed by, the Holder hereof or his attorney duly authorized in
writing, and thereupon one or more new Certificates of the same Class in
authorized denominations evidencing the same aggregate Percentage Interest will
be issued to the designated transferee or transferees.

   No service charge will be imposed for any registration of transfer or
exchange of Certificates, but the Trustee or the Certificate Registrar may
require payment of a sum sufficient to cover any tax or other governmental
charge that may be imposed in connection with any transfer or exchange of
Certificates.

   For so long as this Certificate is registered in the name of Cede & Co., or
in such other name as is requested by an authorized representative of DTC,
transfers of interests in this Certificate shall be made through the book entry
facilities of DTC.

   Prior to due presentment of this Certificate for registration of transfer,
the Depositor, the Master Servicer, the Special Servicer, the Trustee, the REMIC
Administrator, the Certificate Registrar and any agents of any of them may treat
the Person in whose name this Certificate is registered as the owner hereof for
all purposes, and none of the Depositor, the Master Servicer, the Special
Servicer, the Trustee, the REMIC Administrator, the Certificate Registrar or any
such agent shall be affected by notice to the contrary.

   The Trust Fund and the obligations created by the Agreement shall terminate
upon distribution (or provision for distribution) to the Certificateholders of
all amounts held by or on behalf of the Trustee and required to be distributed
to them pursuant to the Agreement following the earlier of (i) the purchase by
the Majority Certificateholder of the Controlling Class (other than the
Depositor or any Mortgage Loan Seller), the Master Servicer or the Special
Servicer (in that order of priority) of all Mortgage Loans and each REO Property
remaining in REMIC I at a price determined as provided in the Agreement, and
(ii) the final payment or other liquidation (or any Advance with respect
thereto) of the last Mortgage Loan or REO Property remaining in REMIC I. The
Agreement permits, but does not require, any such Majority Certificateholder,
the Master Servicer or the Special Servicer to purchase from the Trust Fund all
Mortgage Loans and any REO Properties remaining therein. The exercise of such
right will effect early retirement of the Certificates; however, such right to
purchase is subject to the aggregate Stated Principal Balance of the Mortgage
Pool at the time of purchase being less than 1% of the Initial Pool Balance
specified on the face hereof.

   The Agreement permits, with certain exceptions therein provided, the
amendment thereof, and the modification of the rights and obligations of the
Depositor, the Master Servicer, the Special Servicer and the Trustee and REMIC
Administrator thereunder and the rights of the Certificateholders thereunder, at
any time by the Depositor, the Master Servicer, the Special Servicer and the
Trustee and REMIC Administrator with the consent of the Holders of Certificates
entitled to at least 51% of the Voting Rights allocated to the affected Classes.
Any such consent by the Holder of this Certificate shall be conclusive and
binding on such Holder and upon all future Holders of this Certificate and of
any Certificate issued upon the transfer hereof or in exchange herefor or in
lieu hereof whether or not notation of such consent is made upon this
Certificate. The Agreement also permits the amendment thereof, in certain
circumstances, including any amendment necessary to maintain the status of REMIC
I or REMIC II as a REMIC, without the consent of the Holders of any of the
Certificates.

   Unless the certificate of authentication hereon has been executed by the
Certificate Registrar, by manual signature, this Certificate shall not be
entitled to any benefit under the Agreement or be valid for any purpose.

   The registered Holder hereof, by its acceptance hereof, agrees that it will
look solely to the Trust Fund (to the extent of its rights therein) for
distributions hereunder.

   This Certificate shall be construed in accordance with the internal laws of
the State of New York that are applicable to agreements negotiated, made and to
be performed in said State, and the obligations, rights and remedies of the
Holder hereof shall be determined in accordance with such laws.

<PAGE>

   IN WITNESS WHEREOF, the Trustee has caused this Certificate to be duly
executed.

                                       LaSalle Bank National Association,
                                       as Trustee

                                       By:____________________________________
                                          Authorized Signatory

                          CERTIFICATE OF AUTHENTICATION

   This is one of the Class D Certificates referred to in the within mentioned
Agreement.

Dated:

                                       LaSalle Bank National Association,
                                       as Certificate Registrar

                                       By:____________________________________
                                          Authorized Signatory

<PAGE>

                                   SCHEDULE A

                Certificate Balance of
                Definitive Certificates
            exchanged or transferred for, or
             issued in exchange for or upon     Remaining Principal
            transfer of, an interest in this    Amount of Book Entry    Notation
  Date           Book-Entry Certificate            Certificate           Made By
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------

<PAGE>

                                   ASSIGNMENT

   FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s)
unto ______________________________________________________ (please print or
typewrite name and address including postal zip code of assignee) the beneficial
ownership interest in the Trust Fund evidenced by the within Commercial Mortgage
Pass-Through Certificate and hereby authorize(s) the registration of transfer of
such interest to the above named assignee on the Certificate Register of the
Trust Fund.

I (we) further direct the issuance of a new Commercial Mortgage Pass-Through
Certificate of a like Percentage Interest and Class to the above named assignee
and delivery of such Commercial Mortgage Pass-Through Certificate to the
following address: _____________________________________________________________
________________________________________________________________________________

Dated:

                                          ______________________________________
                                           Signature by or on behalf of Assignor

                                          ______________________________________
                                                    Signature Guaranteed

                            DISTRIBUTION INSTRUCTIONS

   The assignee should include the following for purposes of distribution:

   Distributions shall, if permitted, be made by wire transfer or otherwise, in
immediately available funds, to  ______________________________________ for the
account of _________________________________________________.

   Distributions made by check (such check to be made payable to
____________________________________) and all applicable statements and notices
should be mailed to _______________________________________________.

   This information is provided by _______________________________________, the
assignee named above, or _________________________________________, as its
agent.

<PAGE>

                                  Exhibit A-13
                           Form of Class E Certificate

                           CLASS E COMMERCIAL MORTGAGE
                            PASS-THROUGH CERTIFICATE,
                                  SERIES 2006-2

                     [RULE 144A](1) [REG S](2) CERTIFICATE

This is one of a series of commercial mortgage pass-through certificates
(collectively, the "Certificates"), issued in multiple classes (each, a
"Class"), which series of Certificates evidences the entire beneficial ownership
interest in a trust fund (the "Trust Fund") consisting primarily of a pool (the
"Mortgage Pool") of multifamily and commercial mortgage loans (the "Mortgage
Loans"), such pool being formed and sold by:

                    BANC OF AMERICA COMMERCIAL MORTGAGE INC.

Pass-Through Rate:                       Certificate Principal Balance of this
5.7757% per annum                        Certificate as of the Issue Date:
                                         $[26,991,000]

Date of Pooling and Servicing Agreement: Class Principal Balance of all the
June 1, 2006                             Class E Certificates as of the Issue
                                         Date:
                                         $[26,991,000]

Cut-off Date:                            Initial Pool Balance: $[2,699,084,457]
June 1, 2006

Issue Date:
June 22, 2006

First Distribution Date:
July 10, 2006

Master Servicer:                         Trustee and REMIC Administrator:
Bank of America, N.A.                    LaSalle Bank National Association

Special Servicer:
LNR Partners, Inc.

Certificate No.: E-[__]                  CUSIP No.: [________](1)
                                         CUSIP No.: [________](2)

----------
(1) For Rule 144A Book-Entry Certificates only.

(2) For Reg S Book-Entry Certificates only.

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST CORPORATION, A NEW YORK CORPORATION ("DTC"), TO THE DEPOSITOR,
THE TRUSTEE, THE CERTIFICATE REGISTRAR OR ANY AGENT THEREOF FOR REGISTRATION OF
TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER
ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER,
PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
HEREIN.

THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN BANC OF
AMERICA COMMERCIAL MORTGAGE INC., BANK OF AMERICA, N.A., LNR PARTNERS, INC.,
LASALLE BANK NATIONAL ASSOCIATION OR ANY OF THEIR RESPECTIVE AFFILIATES. NEITHER
THIS CERTIFICATE NOR THE MORTGAGE LOANS ARE GUARANTEED BY ANY AGENCY OR
INSTRUMENTALITY OF THE UNITED STATES OR ANY OTHER PERSON.

THE CLASS OF CERTIFICATES TO WHICH THIS CERTIFICATE BELONGS IS SUBORDINATE TO
ONE OR MORE OTHER CLASSES OF CERTIFICATES OF THE SAME SERIES, AS AND TO THE
EXTENT PROVIDED IN THE AGREEMENT REFERRED TO HEREIN.

THIS CERTIFICATE HAS NOT BEEN REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT
OF 1933, AS AMENDED (THE "SECURITIES ACT"), OR THE SECURITIES LAWS OF ANY STATE.
ANY RESALE, TRANSFER OR OTHER DISPOSITION OF THIS CERTIFICATE WITHOUT SUCH
REGISTRATION OR QUALIFICATION MAY BE MADE ONLY IN A TRANSACTION WHICH DOES NOT
REQUIRE SUCH REGISTRATION OR QUALIFICATION AND IN ACCORDANCE WITH THE PROVISIONS
OF SECTION 5.02 OF THE AGREEMENT REFERRED TO HEREIN.

THE HOLDER OF THIS CERTIFICATE BY ITS ACCEPTANCE HEREOF AGREES NOT TO OFFER,
SELL OR OTHERWISE TRANSFER SUCH CERTIFICATE EXCEPT IN ACCORDANCE WITH ALL
APPLICABLE STATE SECURITIES LAWS AND (A) PURSUANT TO A REGISTRATION STATEMENT
WHICH HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT, (B) FOR SO LONG AS
THIS CERTIFICATE IS ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE
SECURITIES ACT ("RULE 144A"), TO A PERSON WHO THE SELLER REASONABLY BELIEVES IS
A "QUALIFIED INSTITUTIONAL BUYER" AS DEFINED IN RULE 144A IN A TRANSACTION
MEETING THE REQUIREMENTS OF RULE 144A, (C) IN AN OFFSHORE TRANSACTION COMPLYING
WITH RULE 903 OR 904 OF REGULATION S UNDER THE SECURITIES ACT, (D) TO AN
INSTITUTIONAL "ACCREDITED INVESTOR" WITHIN THE MEANING OF RULE 501 (A)(1), (2),
(3) OR (7) OF REGULATION D UNDER THE SECURITIES ACT IN A TRANSACTION EXEMPT FROM
THE REGISTRATION REQUIREMENTS UNDER THE SECURITIES ACT, OR (E) PURSUANT TO
ANOTHER AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES
ACT, SUBJECT IN EACH OF THE FOREGOING CASES TO THE COMPLETION AND DELIVERY BY
THE TRANSFEROR TO THE TRUSTEE OF AN INVESTMENT REPRESENTATION LETTER.

FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE REPRESENTS A "REGULAR
INTEREST" IN A "REAL ESTATE MORTGAGE INVESTMENT CONDUIT" (A "REMIC") AS THOSE
TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL
REVENUE CODE OF 1986, AS AMENDED.

THE OUTSTANDING CERTIFICATE PRINCIPAL BALANCE HEREOF OF AT ANY TIME MAY BE LESS
THAN THE AMOUNT SHOWN ABOVE.

   This certifies that Cede & Co. is the registered owner of the Percentage
Interest evidenced by this Certificate (obtained by dividing the principal
balance of this Certificate (its "Certificate Principal Balance") as of the
Issue Date by the aggregate principal balance of all the Certificates of the
same Class as this Certificate (their "Class Principal Balance") as of the Issue
Date) in that certain beneficial ownership interest in the Trust Fund evidenced
by all the Certificates of the same Class as this Certificate. The Trust Fund
was created and the Certificates were issued pursuant to a Pooling and Servicing
Agreement, dated as specified above (the "Agreement"), among Banc of America
Commercial Mortgage Inc., as Depositor, and the Master Servicer, the Special
Servicer and the Trustee and REMIC Administrator identified above. To the extent
not defined herein, the capitalized terms used herein have the respective
meanings assigned in the Agreement. This Certificate is issued under and is
subject to the terms, provisions and conditions of the Agreement, to which
Agreement the Holder of this Certificate by virtue of the acceptance hereof
assents and by which such Holder is bound.

   Pursuant to the terms of the Agreement, distributions will be made on the
10th day of each month or, if such 10th day is not a Business Day, the Business
Day immediately following (each, a "Distribution Date"), commencing on the first
Distribution Date specified above, to the Person in whose name this Certificate
is registered at the close of business on the last Business Day of the month
immediately preceding the month of such distribution (the "Record Date"), in an
amount equal to the product of the Percentage Interest evidenced by this
Certificate and the amount required to be distributed pursuant to the Agreement
on the applicable Distribution Date in respect of the Class of Certificates to
which this Certificate belongs. All distributions made under the Agreement in
respect of this Certificate will be made by the Trustee by wire transfer in
immediately available funds to the account of the Person entitled thereto at a
bank or other entity having appropriate facilities therefor, if such
Certificateholder shall have provided the Trustee with written wiring
instructions no less than five (5) Business Days prior to the Record Date for
such distribution (which wiring instructions may be in the form of a standing
order applicable to all subsequent distributions as well), or otherwise by check
mailed to the address of such Certificateholder appearing in the Certificate
Register. Notwithstanding the above, the final distribution in respect of this
Certificate (determined without regard to any possible future reimbursement of
any Realized Loss or Additional Trust Fund Expense previously allocated to this
Certificate) will be made after due notice by the Trustee of the pendency of
such distribution and only upon presentation and surrender of this Certificate
at the offices of the Certificate Registrar appointed as provided in the
Agreement or such other location as may be specified in such notice. Also
notwithstanding the foregoing, any distribution that may be made with respect to
this Certificate in reimbursement of any Realized Loss or Additional Trust Fund
Expense previously allocated to this Certificate, which reimbursement is to
occur after the date on which this Certificate is surrendered as contemplated by
the preceding sentence, will be made by check mailed to the address of the
Holder that surrenders this Certificate as such address last appeared in the
Certificate Register or to any such other address of which the Trustee is
subsequently notified in writing.

   Any distribution to the Holder of this Certificate in reduction of the
Certificate Principal Balance hereof is binding on such Holder and all future
Holders of this Certificate and any Certificate issued upon the transfer hereof
or in exchange herefor or in lieu hereof whether or not notation of such
distribution is made upon this Certificate.

   The Certificates are limited in right of distribution to certain collections
and recoveries respecting the Mortgage Loans, all as more specifically set forth
herein and in the Agreement. As provided in the Agreement, withdrawals from the
Certificate Account, the Distribution Account and, if established, the REO
Account may be made from time to time for purposes other than, and, in certain
cases, prior to, distributions to Certificateholders, such purposes including
the reimbursement of advances made, or certain expenses incurred, with respect
to the Mortgage Loans and the payment of interest on such advances and expenses.

   The Certificates are issuable in fully registered form only without coupons
in minimum denominations specified in the Agreement. As provided in the
Agreement and subject to certain limitations therein set forth, the Certificates
are exchangeable for new Certificates of the same Class in authorized
denominations evidencing the same aggregate Percentage Interest, as requested by
the Holder surrendering the same.

   As provided in the Agreement and subject to certain limitations therein set
forth, the transfer of this Certificate is registrable in the Certificate
Register upon surrender of this Certificate for registration of transfer at the
offices of the Certificate Registrar, duly endorsed by, or accompanied by a
written instrument of transfer in the form satisfactory to the Certificate
Registrar duly executed by, the Holder hereof or his attorney duly authorized in
writing, and thereupon one or more new Certificates of the same Class in
authorized denominations evidencing the same aggregate Percentage Interest will
be issued to the designated transferee or transferees.

   No service charge will be imposed for any registration of transfer or
exchange of Certificates, but the Trustee or the Certificate Registrar may
require payment of a sum sufficient to cover any tax or other governmental
charge that may be imposed in connection with any transfer or exchange of
Certificates.

   For so long as this Certificate is registered in the name of Cede & Co., or
in such other name as is requested by an authorized representative of DTC,
transfers of interests in this Certificate shall be made through the book entry
facilities of DTC.

   Prior to due presentment of this Certificate for registration of transfer,
the Depositor, the Master Servicer, the Special Servicer, the Trustee, the REMIC
Administrator, the Certificate Registrar and any agents of any of them may treat
the Person in whose name this Certificate is registered as the owner hereof for
all purposes, and none of the Depositor, the Master Servicer, the Special
Servicer, the Trustee, the REMIC Administrator, the Certificate Registrar or any
such agent shall be affected by notice to the contrary.

   The Trust Fund and the obligations created by the Agreement shall terminate
upon distribution (or provision for distribution) to the Certificateholders of
all amounts held by or on behalf of the Trustee and required to be distributed
to them pursuant to the Agreement following the earlier of (i) the purchase by
the Majority Certificateholder of the Controlling Class (other than the
Depositor or any Mortgage Loan Seller), the Master Servicer or the Special
Servicer (in that order of priority) of all Mortgage Loans and each REO Property
remaining in REMIC I at a price determined as provided in the Agreement, and
(ii) the final payment or other liquidation (or any Advance with respect
thereto) of the last Mortgage Loan or REO Property remaining in REMIC I. The
Agreement permits, but does not require, any such Majority Certificateholder,
the Master Servicer or the Special Servicer to purchase from the Trust Fund all
Mortgage Loans and any REO Properties remaining therein. The exercise of such
right will effect early retirement of the Certificates; however, such right to
purchase is subject to the aggregate Stated Principal Balance of the Mortgage
Pool at the time of purchase being less than 1% of the Initial Pool Balance
specified on the face hereof.

   The Agreement permits, with certain exceptions therein provided, the
amendment thereof, and the modification of the rights and obligations of the
Depositor, the Master Servicer, the Special Servicer and the Trustee and REMIC
Administrator thereunder and the rights of the Certificateholders thereunder, at
any time by the Depositor, the Master Servicer, the Special Servicer and the
Trustee and REMIC Administrator with the consent of the Holders of Certificates
entitled to at least 51% of the Voting Rights allocated to the affected Classes.
Any such consent by the Holder of this Certificate shall be conclusive and
binding on such Holder and upon all future Holders of this Certificate and of
any Certificate issued upon the transfer hereof or in exchange herefor or in
lieu hereof whether or not notation of such consent is made upon this
Certificate. The Agreement also permits the amendment thereof, in certain
circumstances, including any amendment necessary to maintain the status of REMIC
I or REMIC II as a REMIC, without the consent of the Holders of any of the
Certificates.

   Unless the certificate of authentication hereon has been executed by the
Certificate Registrar, by manual signature, this Certificate shall not be
entitled to any benefit under the Agreement or be valid for any purpose.

   The registered Holder hereof, by its acceptance hereof, agrees that it will
look solely to the Trust Fund (to the extent of its rights therein) for
distributions hereunder.

   This Certificate shall be construed in accordance with the internal laws of
the State of New York that are applicable to agreements negotiated, made and to
be performed in said State, and the obligations, rights and remedies of the
Holder hereof shall be determined in accordance with such laws.

<PAGE>

   IN WITNESS WHEREOF, the Trustee has caused this Certificate to be duly
executed.

                                       LaSalle Bank National Association,
                                       as Trustee

                                       By:____________________________________
                                          Authorized Signatory

                          CERTIFICATE OF AUTHENTICATION

   This is one of the Class E Certificates referred to in the within mentioned
Agreement.

Dated:

                                       LaSalle Bank National Association,
                                       as Certificate Registrar

                                       By:____________________________________
                                          Authorized Signatory

<PAGE>

                                   SCHEDULE A

                Certificate Balance of
                Definitive Certificates
            exchanged or transferred for, or
             issued in exchange for or upon     Remaining Principal
            transfer of, an interest in this    Amount of Book Entry    Notation
  Date           Book-Entry Certificate            Certificate           Made By
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------

<PAGE>

                                   ASSIGNMENT

   FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s)
unto ______________________________________________________ (please print or
typewrite name and address including postal zip code of assignee) the beneficial
ownership interest in the Trust Fund evidenced by the within Commercial Mortgage
Pass-Through Certificate and hereby authorize(s) the registration of transfer of
such interest to the above named assignee on the Certificate Register of the
Trust Fund.

I (we) further direct the issuance of a new Commercial Mortgage Pass-Through
Certificate of a like Percentage Interest and Class to the above named assignee
and delivery of such Commercial Mortgage Pass-Through Certificate to the
following address: _____________________________________________________________
________________________________________________________________________________

Dated:

                                          ______________________________________
                                           Signature by or on behalf of Assignor

                                          ______________________________________
                                                    Signature Guaranteed

                            DISTRIBUTION INSTRUCTIONS

   The assignee should include the following for purposes of distribution:

   Distributions shall, if permitted, be made by wire transfer or otherwise, in
immediately available funds, to  ______________________________________ for the
account of _________________________________________________.

   Distributions made by check (such check to be made payable to
____________________________________) and all applicable statements and notices
should be mailed to _______________________________________________.

   This information is provided by _______________________________________, the
assignee named above, or _________________________________________, as its
agent.

<PAGE>

                                  Exhibit A-14
                           Form of Class F Certificate

                           CLASS F COMMERCIAL MORTGAGE
                            PASS-THROUGH CERTIFICATE,
                                  SERIES 2006-2

                      [RULE 144A](1) [REG S](2) CERTIFICATE

This is one of a series of commercial mortgage pass-through certificates
(collectively, the "Certificates"), issued in multiple classes (each, a
"Class"), which series of Certificates evidences the entire beneficial ownership
interest in a trust fund (the "Trust Fund") consisting primarily of a pool (the
"Mortgage Pool") of multifamily and commercial mortgage loans (the "Mortgage
Loans"), such pool being formed and sold by:

                    BANC OF AMERICA COMMERCIAL MORTGAGE INC.

Pass-Through Rate:                       Certificate Principal Balance of this
5.7757% per annum                        Certificate as of the Issue Date:
                                         $[30,364,000]

Date of Pooling and Servicing Agreement: Class Principal Balance of all the
June 1, 2006                             Class F Certificates as of the Issue
                                         Date:
                                         $[30,364,000]

Cut-off Date:                            Initial Pool Balance: $[2,699,084,457]
June 1, 2006

Issue Date:
June 22, 2006

First Distribution Date:
July 10, 2006

Master Servicer:                         Trustee and REMIC Administrator:
Bank of America, N.A.                    LaSalle Bank National Association

Special Servicer:
LNR Partners, Inc.

Certificate No.: F-[__]                  CUSIP No.: [________](1)
                                         CUSIP No.: [________](2)

----------
(1) For Rule 144A Book-Entry Certificates only.

(2) For Reg S Book-Entry Certificates only.

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST CORPORATION, A NEW YORK CORPORATION ("DTC"), TO THE DEPOSITOR,
THE TRUSTEE, THE CERTIFICATE REGISTRAR OR ANY AGENT THEREOF FOR REGISTRATION OF
TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER
ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER,
PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
HEREIN.

THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN BANC OF
AMERICA COMMERCIAL MORTGAGE INC., BANK OF AMERICA, N.A., LNR PARTNERS, INC.,
LASALLE BANK NATIONAL ASSOCIATION OR ANY OF THEIR RESPECTIVE AFFILIATES. NEITHER
THIS CERTIFICATE NOR THE MORTGAGE LOANS ARE GUARANTEED BY ANY AGENCY OR
INSTRUMENTALITY OF THE UNITED STATES OR ANY OTHER PERSON.

THE CLASS OF CERTIFICATES TO WHICH THIS CERTIFICATE BELONGS IS SUBORDINATE TO
ONE OR MORE OTHER CLASSES OF CERTIFICATES OF THE SAME SERIES, AS AND TO THE
EXTENT PROVIDED IN THE AGREEMENT REFERRED TO HEREIN.

THIS CERTIFICATE HAS NOT BEEN REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT
OF 1933, AS AMENDED (THE "SECURITIES ACT"), OR THE SECURITIES LAWS OF ANY STATE.
ANY RESALE, TRANSFER OR OTHER DISPOSITION OF THIS CERTIFICATE WITHOUT SUCH
REGISTRATION OR QUALIFICATION MAY BE MADE ONLY IN A TRANSACTION WHICH DOES NOT
REQUIRE SUCH REGISTRATION OR QUALIFICATION AND IN ACCORDANCE WITH THE PROVISIONS
OF SECTION 5.02 OF THE AGREEMENT REFERRED TO HEREIN.

THE HOLDER OF THIS CERTIFICATE BY ITS ACCEPTANCE HEREOF AGREES NOT TO OFFER,
SELL OR OTHERWISE TRANSFER SUCH CERTIFICATE EXCEPT IN ACCORDANCE WITH ALL
APPLICABLE STATE SECURITIES LAWS AND (A) PURSUANT TO A REGISTRATION STATEMENT
WHICH HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT, (B) FOR SO LONG AS
THIS CERTIFICATE IS ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE
SECURITIES ACT ("RULE 144A"), TO A PERSON WHO THE SELLER REASONABLY BELIEVES IS
A "QUALIFIED INSTITUTIONAL BUYER" AS DEFINED IN RULE 144A IN A TRANSACTION
MEETING THE REQUIREMENTS OF RULE 144A, (C) IN AN OFFSHORE TRANSACTION COMPLYING
WITH RULE 903 OR 904 OF REGULATION S UNDER THE SECURITIES ACT, (D) TO AN
INSTITUTIONAL "ACCREDITED INVESTOR" WITHIN THE MEANING OF RULE 501 (A)(1), (2),
(3) OR (7) OF REGULATION D UNDER THE SECURITIES ACT IN A TRANSACTION EXEMPT FROM
THE REGISTRATION REQUIREMENTS UNDER THE SECURITIES ACT, OR (E) PURSUANT TO
ANOTHER AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES
ACT, SUBJECT IN EACH OF THE FOREGOING CASES TO THE COMPLETION AND DELIVERY BY
THE TRANSFEROR TO THE TRUSTEE OF AN INVESTMENT REPRESENTATION LETTER.

FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE REPRESENTS A "REGULAR
INTEREST" IN A "REAL ESTATE MORTGAGE INVESTMENT CONDUIT" (A "REMIC") AS THOSE
TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL
REVENUE CODE OF 1986, AS AMENDED.

THE OUTSTANDING CERTIFICATE PRINCIPAL BALANCE HEREOF OF AT ANY TIME MAY BE LESS
THAN THE AMOUNT SHOWN ABOVE.

   This certifies that Cede & Co. is the registered owner of the Percentage
Interest evidenced by this Certificate (obtained by dividing the principal
balance of this Certificate (its "Certificate Principal Balance") as of the
Issue Date by the aggregate principal balance of all the Certificates of the
same Class as this Certificate (their "Class Principal Balance") as of the Issue
Date) in that certain beneficial ownership interest in the Trust Fund evidenced
by all the Certificates of the same Class as this Certificate. The Trust Fund
was created and the Certificates were issued pursuant to a Pooling and Servicing
Agreement, dated as specified above (the "Agreement"), among Banc of America
Commercial Mortgage Inc., as Depositor, and the Master Servicer, the Special
Servicer and the Trustee and REMIC Administrator identified above. To the extent
not defined herein, the capitalized terms used herein have the respective
meanings assigned in the Agreement. This Certificate is issued under and is
subject to the terms, provisions and conditions of the Agreement, to which
Agreement the Holder of this Certificate by virtue of the acceptance hereof
assents and by which such Holder is bound.

   Pursuant to the terms of the Agreement, distributions will be made on the
10th day of each month or, if such 10th day is not a Business Day, the Business
Day immediately following (each, a "Distribution Date"), commencing on the first
Distribution Date specified above, to the Person in whose name this Certificate
is registered at the close of business on the last Business Day of the month
immediately preceding the month of such distribution (the "Record Date"), in an
amount equal to the product of the Percentage Interest evidenced by this
Certificate and the amount required to be distributed pursuant to the Agreement
on the applicable Distribution Date in respect of the Class of Certificates to
which this Certificate belongs. All distributions made under the Agreement in
respect of this Certificate will be made by the Trustee by wire transfer in
immediately available funds to the account of the Person entitled thereto at a
bank or other entity having appropriate facilities therefor, if such
Certificateholder shall have provided the Trustee with written wiring
instructions no less than five (5) Business Days prior to the Record Date for
such distribution (which wiring instructions may be in the form of a standing
order applicable to all subsequent distributions as well), or otherwise by check
mailed to the address of such Certificateholder appearing in the Certificate
Register. Notwithstanding the above, the final distribution in respect of this
Certificate (determined without regard to any possible future reimbursement of
any Realized Loss or Additional Trust Fund Expense previously allocated to this
Certificate) will be made after due notice by the Trustee of the pendency of
such distribution and only upon presentation and surrender of this Certificate
at the offices of the Certificate Registrar appointed as provided in the
Agreement or such other location as may be specified in such notice. Also
notwithstanding the foregoing, any distribution that may be made with respect to
this Certificate in reimbursement of any Realized Loss or Additional Trust Fund
Expense previously allocated to this Certificate, which reimbursement is to
occur after the date on which this Certificate is surrendered as contemplated by
the preceding sentence, will be made by check mailed to the address of the
Holder that surrenders this Certificate as such address last appeared in the
Certificate Register or to any such other address of which the Trustee is
subsequently notified in writing.

   Any distribution to the Holder of this Certificate in reduction of the
Certificate Principal Balance hereof is binding on such Holder and all future
Holders of this Certificate and any Certificate issued upon the transfer hereof
or in exchange herefor or in lieu hereof whether or not notation of such
distribution is made upon this Certificate.

   The Certificates are limited in right of distribution to certain collections
and recoveries respecting the Mortgage Loans, all as more specifically set forth
herein and in the Agreement. As provided in the Agreement, withdrawals from the
Certificate Account, the Distribution Account and, if established, the REO
Account may be made from time to time for purposes other than, and, in certain
cases, prior to, distributions to Certificateholders, such purposes including
the reimbursement of advances made, or certain expenses incurred, with respect
to the Mortgage Loans and the payment of interest on such advances and expenses.

   The Certificates are issuable in fully registered form only without coupons
in minimum denominations specified in the Agreement. As provided in the
Agreement and subject to certain limitations therein set forth, the Certificates
are exchangeable for new Certificates of the same Class in authorized
denominations evidencing the same aggregate Percentage Interest, as requested by
the Holder surrendering the same.

   As provided in the Agreement and subject to certain limitations therein set
forth, the transfer of this Certificate is registrable in the Certificate
Register upon surrender of this Certificate for registration of transfer at the
offices of the Certificate Registrar, duly endorsed by, or accompanied by a
written instrument of transfer in the form satisfactory to the Certificate
Registrar duly executed by, the Holder hereof or his attorney duly authorized in
writing, and thereupon one or more new Certificates of the same Class in
authorized denominations evidencing the same aggregate Percentage Interest will
be issued to the designated transferee or transferees.

   No service charge will be imposed for any registration of transfer or
exchange of Certificates, but the Trustee or the Certificate Registrar may
require payment of a sum sufficient to cover any tax or other governmental
charge that may be imposed in connection with any transfer or exchange of
Certificates.

   For so long as this Certificate is registered in the name of Cede & Co., or
in such other name as is requested by an authorized representative of DTC,
transfers of interests in this Certificate shall be made through the book entry
facilities of DTC.

   Prior to due presentment of this Certificate for registration of transfer,
the Depositor, the Master Servicer, the Special Servicer, the Trustee, the REMIC
Administrator, the Certificate Registrar and any agents of any of them may treat
the Person in whose name this Certificate is registered as the owner hereof for
all purposes, and none of the Depositor, the Master Servicer, the Special
Servicer, the Trustee, the REMIC Administrator, the Certificate Registrar or any
such agent shall be affected by notice to the contrary.

   The Trust Fund and the obligations created by the Agreement shall terminate
upon distribution (or provision for distribution) to the Certificateholders of
all amounts held by or on behalf of the Trustee and required to be distributed
to them pursuant to the Agreement following the earlier of (i) the purchase by
the Majority Certificateholder of the Controlling Class (other than the
Depositor or any Mortgage Loan Seller), the Master Servicer or the Special
Servicer (in that order of priority) of all Mortgage Loans and each REO Property
remaining in REMIC I at a price determined as provided in the Agreement, and
(ii) the final payment or other liquidation (or any Advance with respect
thereto) of the last Mortgage Loan or REO Property remaining in REMIC I. The
Agreement permits, but does not require, any such Majority Certificateholder,
the Master Servicer or the Special Servicer to purchase from the Trust Fund all
Mortgage Loans and any REO Properties remaining therein. The exercise of such
right will effect early retirement of the Certificates; however, such right to
purchase is subject to the aggregate Stated Principal Balance of the Mortgage
Pool at the time of purchase being less than 1% of the Initial Pool Balance
specified on the face hereof.

   The Agreement permits, with certain exceptions therein provided, the
amendment thereof, and the modification of the rights and obligations of the
Depositor, the Master Servicer, the Special Servicer and the Trustee and REMIC
Administrator thereunder and the rights of the Certificateholders thereunder, at
any time by the Depositor, the Master Servicer, the Special Servicer and the
Trustee and REMIC Administrator with the consent of the Holders of Certificates
entitled to at least 51% of the Voting Rights allocated to the affected Classes.
Any such consent by the Holder of this Certificate shall be conclusive and
binding on such Holder and upon all future Holders of this Certificate and of
any Certificate issued upon the transfer hereof or in exchange herefor or in
lieu hereof whether or not notation of such consent is made upon this
Certificate. The Agreement also permits the amendment thereof, in certain
circumstances, including any amendment necessary to maintain the status of REMIC
I or REMIC II as a REMIC, without the consent of the Holders of any of the
Certificates.

   Unless the certificate of authentication hereon has been executed by the
Certificate Registrar, by manual signature, this Certificate shall not be
entitled to any benefit under the Agreement or be valid for any purpose.

   The registered Holder hereof, by its acceptance hereof, agrees that it will
look solely to the Trust Fund (to the extent of its rights therein) for
distributions hereunder.

   This Certificate shall be construed in accordance with the internal laws of
the State of New York that are applicable to agreements negotiated, made and to
be performed in said State, and the obligations, rights and remedies of the
Holder hereof shall be determined in accordance with such laws.

<PAGE>

   IN WITNESS WHEREOF, the Trustee has caused this Certificate to be duly
executed.

                                       LaSalle Bank National Association,
                                       as Trustee

                                       By:____________________________________
                                          Authorized Signatory

                          CERTIFICATE OF AUTHENTICATION

   This is one of the Class F Certificates referred to in the within mentioned
Agreement.

Dated:

                                       LaSalle Bank National Association,
                                       as Certificate Registrar

                                       By:____________________________________
                                          Authorized Signatory

<PAGE>

                                   SCHEDULE A

                Certificate Balance of
                Definitive Certificates
            exchanged or transferred for, or
             issued in exchange for or upon     Remaining Principal
            transfer of, an interest in this    Amount of Book Entry    Notation
  Date           Book-Entry Certificate            Certificate           Made By
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------

<PAGE>

                                   ASSIGNMENT

   FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s)
unto ______________________________________________________ (please print or
typewrite name and address including postal zip code of assignee) the beneficial
ownership interest in the Trust Fund evidenced by the within Commercial Mortgage
Pass-Through Certificate and hereby authorize(s) the registration of transfer of
such interest to the above named assignee on the Certificate Register of the
Trust Fund.

I (we) further direct the issuance of a new Commercial Mortgage Pass-Through
Certificate of a like Percentage Interest and Class to the above named assignee
and delivery of such Commercial Mortgage Pass-Through Certificate to the
following address: _____________________________________________________________
________________________________________________________________________________

Dated:

                                          ______________________________________
                                           Signature by or on behalf of Assignor

                                          ______________________________________
                                                    Signature Guaranteed

                            DISTRIBUTION INSTRUCTIONS

   The assignee should include the following for purposes of distribution:

   Distributions shall, if permitted, be made by wire transfer or otherwise, in
immediately available funds, to  ______________________________________ for the
account of _________________________________________________.

   Distributions made by check (such check to be made payable to
____________________________________) and all applicable statements and notices
should be mailed to _______________________________________________.

   This information is provided by _______________________________________, the
assignee named above, or _________________________________________, as its
agent.

<PAGE>

                                  Exhibit A-15
                           Form of Class G Certificate

                           CLASS G COMMERCIAL MORTGAGE
                            PASS-THROUGH CERTIFICATE,
                                  SERIES 2006-2

                     [RULE 144A](1) [REG S](2) CERTIFICATE

This is one of a series of commercial mortgage pass-through certificates
(collectively, the "Certificates"), issued in multiple classes (each, a
"Class"), which series of Certificates evidences the entire beneficial ownership
interest in a trust fund (the "Trust Fund") consisting primarily of a pool (the
"Mortgage Pool") of multifamily and commercial mortgage loans (the "Mortgage
Loans"), such pool being formed and sold by:

                    BANC OF AMERICA COMMERCIAL MORTGAGE INC.

Pass-Through Rate:                       Certificate Principal Balance of this
5.7757% per annum                        Certificate as of the Issue Date:
                                         $[26,991,000]

Date of Pooling and Servicing Agreement: Class Principal Balance of all the
June 1, 2006                             Class G Certificates as of the Issue
                                         Date:
                                         $[26,991,000]

Cut-off Date:                            Initial Pool Balance: $[2,699,084,457]
June 1, 2006

Issue Date:
June 22, 2006

First Distribution Date:
July 10, 2006

Master Servicer:                         Trustee and REMIC Administrator:
Bank of America, N.A.                    LaSalle Bank National Association

Special Servicer:
LNR Partners, Inc.

Certificate No.: G-[__]                  CUSIP No.: [________](1)
                                         CUSIP No.: [________](2)

----------
(1) For Rule 144A Book-Entry Certificates only.

(2) For Reg S Book-Entry Certificates only.

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST CORPORATION, A NEW YORK CORPORATION ("DTC"), TO THE DEPOSITOR,
THE TRUSTEE, THE CERTIFICATE REGISTRAR OR ANY AGENT THEREOF FOR REGISTRATION OF
TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER
ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER,
PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
HEREIN.

THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN BANC OF
AMERICA COMMERCIAL MORTGAGE INC., BANK OF AMERICA, N.A., LNR PARTNERS, INC.,
LASALLE BANK NATIONAL ASSOCIATION OR ANY OF THEIR RESPECTIVE AFFILIATES. NEITHER
THIS CERTIFICATE NOR THE MORTGAGE LOANS ARE GUARANTEED BY ANY AGENCY OR
INSTRUMENTALITY OF THE UNITED STATES OR ANY OTHER PERSON.

THE CLASS OF CERTIFICATES TO WHICH THIS CERTIFICATE BELONGS IS SUBORDINATE TO
ONE OR MORE OTHER CLASSES OF CERTIFICATES OF THE SAME SERIES, AS AND TO THE
EXTENT PROVIDED IN THE AGREEMENT REFERRED TO HEREIN.

THIS CERTIFICATE HAS NOT BEEN REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT
OF 1933, AS AMENDED (THE "SECURITIES ACT"), OR THE SECURITIES LAWS OF ANY STATE.
ANY RESALE, TRANSFER OR OTHER DISPOSITION OF THIS CERTIFICATE WITHOUT SUCH
REGISTRATION OR QUALIFICATION MAY BE MADE ONLY IN A TRANSACTION WHICH DOES NOT
REQUIRE SUCH REGISTRATION OR QUALIFICATION AND IN ACCORDANCE WITH THE PROVISIONS
OF SECTION 5.02 OF THE AGREEMENT REFERRED TO HEREIN.

THE HOLDER OF THIS CERTIFICATE BY ITS ACCEPTANCE HEREOF AGREES NOT TO OFFER,
SELL OR OTHERWISE TRANSFER SUCH CERTIFICATE EXCEPT IN ACCORDANCE WITH ALL
APPLICABLE STATE SECURITIES LAWS AND (A) PURSUANT TO A REGISTRATION STATEMENT
WHICH HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT, (B) FOR SO LONG AS
THIS CERTIFICATE IS ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE
SECURITIES ACT ("RULE 144A"), TO A PERSON WHO THE SELLER REASONABLY BELIEVES IS
A "QUALIFIED INSTITUTIONAL BUYER" AS DEFINED IN RULE 144A IN A TRANSACTION
MEETING THE REQUIREMENTS OF RULE 144A, (C) IN AN OFFSHORE TRANSACTION COMPLYING
WITH RULE 903 OR 904 OF REGULATION S UNDER THE SECURITIES ACT, (D) TO AN
INSTITUTIONAL "ACCREDITED INVESTOR" WITHIN THE MEANING OF RULE 501 (A)(1), (2),
(3) OR (7) OF REGULATION D UNDER THE SECURITIES ACT IN A TRANSACTION EXEMPT FROM
THE REGISTRATION REQUIREMENTS UNDER THE SECURITIES ACT, OR (E) PURSUANT TO
ANOTHER AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES
ACT, SUBJECT IN EACH OF THE FOREGOING CASES TO THE COMPLETION AND DELIVERY BY
THE TRANSFEROR TO THE TRUSTEE OF AN INVESTMENT REPRESENTATION LETTER.

FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE REPRESENTS A "REGULAR
INTEREST" IN A "REAL ESTATE MORTGAGE INVESTMENT CONDUIT" (A "REMIC") AS THOSE
TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL
REVENUE CODE OF 1986, AS AMENDED.

THE OUTSTANDING CERTIFICATE PRINCIPAL BALANCE HEREOF OF AT ANY TIME MAY BE LESS
THAN THE AMOUNT SHOWN ABOVE.

   This certifies that Cede & Co. is the registered owner of the Percentage
Interest evidenced by this Certificate (obtained by dividing the principal
balance of this Certificate (its "Certificate Principal Balance") as of the
Issue Date by the aggregate principal balance of all the Certificates of the
same Class as this Certificate (their "Class Principal Balance") as of the Issue
Date) in that certain beneficial ownership interest in the Trust Fund evidenced
by all the Certificates of the same Class as this Certificate. The Trust Fund
was created and the Certificates were issued pursuant to a Pooling and Servicing
Agreement, dated as specified above (the "Agreement"), among Banc of America
Commercial Mortgage Inc., as Depositor, and the Master Servicer, the Special
Servicer and the Trustee and REMIC Administrator identified above. To the extent
not defined herein, the capitalized terms used herein have the respective
meanings assigned in the Agreement. This Certificate is issued under and is
subject to the terms, provisions and conditions of the Agreement, to which
Agreement the Holder of this Certificate by virtue of the acceptance hereof
assents and by which such Holder is bound.

   Pursuant to the terms of the Agreement, distributions will be made on the
10th day of each month or, if such 10th day is not a Business Day, the Business
Day immediately following (each, a "Distribution Date"), commencing on the first
Distribution Date specified above, to the Person in whose name this Certificate
is registered at the close of business on the last Business Day of the month
immediately preceding the month of such distribution (the "Record Date"), in an
amount equal to the product of the Percentage Interest evidenced by this
Certificate and the amount required to be distributed pursuant to the Agreement
on the applicable Distribution Date in respect of the Class of Certificates to
which this Certificate belongs. All distributions made under the Agreement in
respect of this Certificate will be made by the Trustee by wire transfer in
immediately available funds to the account of the Person entitled thereto at a
bank or other entity having appropriate facilities therefor, if such
Certificateholder shall have provided the Trustee with written wiring
instructions no less than five (5) Business Days prior to the Record Date for
such distribution (which wiring instructions may be in the form of a standing
order applicable to all subsequent distributions as well), or otherwise by check
mailed to the address of such Certificateholder appearing in the Certificate
Register. Notwithstanding the above, the final distribution in respect of this
Certificate (determined without regard to any possible future reimbursement of
any Realized Loss or Additional Trust Fund Expense previously allocated to this
Certificate) will be made after due notice by the Trustee of the pendency of
such distribution and only upon presentation and surrender of this Certificate
at the offices of the Certificate Registrar appointed as provided in the
Agreement or such other location as may be specified in such notice. Also
notwithstanding the foregoing, any distribution that may be made with respect to
this Certificate in reimbursement of any Realized Loss or Additional Trust Fund
Expense previously allocated to this Certificate, which reimbursement is to
occur after the date on which this Certificate is surrendered as contemplated by
the preceding sentence, will be made by check mailed to the address of the
Holder that surrenders this Certificate as such address last appeared in the
Certificate Register or to any such other address of which the Trustee is
subsequently notified in writing.

   Any distribution to the Holder of this Certificate in reduction of the
Certificate Principal Balance hereof is binding on such Holder and all future
Holders of this Certificate and any Certificate issued upon the transfer hereof
or in exchange herefor or in lieu hereof whether or not notation of such
distribution is made upon this Certificate.

   The Certificates are limited in right of distribution to certain collections
and recoveries respecting the Mortgage Loans, all as more specifically set forth
herein and in the Agreement. As provided in the Agreement, withdrawals from the
Certificate Account, the Distribution Account and, if established, the REO
Account may be made from time to time for purposes other than, and, in certain
cases, prior to, distributions to Certificateholders, such purposes including
the reimbursement of advances made, or certain expenses incurred, with respect
to the Mortgage Loans and the payment of interest on such advances and expenses.

   The Certificates are issuable in fully registered form only without coupons
in minimum denominations specified in the Agreement. As provided in the
Agreement and subject to certain limitations therein set forth, the Certificates
are exchangeable for new Certificates of the same Class in authorized
denominations evidencing the same aggregate Percentage Interest, as requested by
the Holder surrendering the same.

   As provided in the Agreement and subject to certain limitations therein set
forth, the transfer of this Certificate is registrable in the Certificate
Register upon surrender of this Certificate for registration of transfer at the
offices of the Certificate Registrar, duly endorsed by, or accompanied by a
written instrument of transfer in the form satisfactory to the Certificate
Registrar duly executed by, the Holder hereof or his attorney duly authorized in
writing, and thereupon one or more new Certificates of the same Class in
authorized denominations evidencing the same aggregate Percentage Interest will
be issued to the designated transferee or transferees.

   No service charge will be imposed for any registration of transfer or
exchange of Certificates, but the Trustee or the Certificate Registrar may
require payment of a sum sufficient to cover any tax or other governmental
charge that may be imposed in connection with any transfer or exchange of
Certificates.

   For so long as this Certificate is registered in the name of Cede & Co., or
in such other name as is requested by an authorized representative of DTC,
transfers of interests in this Certificate shall be made through the book entry
facilities of DTC.

   Prior to due presentment of this Certificate for registration of transfer,
the Depositor, the Master Servicer, the Special Servicer, the Trustee, the REMIC
Administrator, the Certificate Registrar and any agents of any of them may treat
the Person in whose name this Certificate is registered as the owner hereof for
all purposes, and none of the Depositor, the Master Servicer, the Special
Servicer, the Trustee, the REMIC Administrator, the Certificate Registrar or any
such agent shall be affected by notice to the contrary.

   The Trust Fund and the obligations created by the Agreement shall terminate
upon distribution (or provision for distribution) to the Certificateholders of
all amounts held by or on behalf of the Trustee and required to be distributed
to them pursuant to the Agreement following the earlier of (i) the purchase by
the Majority Certificateholder of the Controlling Class (other than the
Depositor or any Mortgage Loan Seller), the Master Servicer or the Special
Servicer (in that order of priority) of all Mortgage Loans and each REO Property
remaining in REMIC I at a price determined as provided in the Agreement, and
(ii) the final payment or other liquidation (or any Advance with respect
thereto) of the last Mortgage Loan or REO Property remaining in REMIC I. The
Agreement permits, but does not require, any such Majority Certificateholder,
the Master Servicer or the Special Servicer to purchase from the Trust Fund all
Mortgage Loans and any REO Properties remaining therein. The exercise of such
right will effect early retirement of the Certificates; however, such right to
purchase is subject to the aggregate Stated Principal Balance of the Mortgage
Pool at the time of purchase being less than 1% of the Initial Pool Balance
specified on the face hereof.

   The Agreement permits, with certain exceptions therein provided, the
amendment thereof, and the modification of the rights and obligations of the
Depositor, the Master Servicer, the Special Servicer and the Trustee and REMIC
Administrator thereunder and the rights of the Certificateholders thereunder, at
any time by the Depositor, the Master Servicer, the Special Servicer and the
Trustee and REMIC Administrator with the consent of the Holders of Certificates
entitled to at least 51% of the Voting Rights allocated to the affected Classes.
Any such consent by the Holder of this Certificate shall be conclusive and
binding on such Holder and upon all future Holders of this Certificate and of
any Certificate issued upon the transfer hereof or in exchange herefor or in
lieu hereof whether or not notation of such consent is made upon this
Certificate. The Agreement also permits the amendment thereof, in certain
circumstances, including any amendment necessary to maintain the status of REMIC
I or REMIC II as a REMIC, without the consent of the Holders of any of the
Certificates.

   Unless the certificate of authentication hereon has been executed by the
Certificate Registrar, by manual signature, this Certificate shall not be
entitled to any benefit under the Agreement or be valid for any purpose.

   The registered Holder hereof, by its acceptance hereof, agrees that it will
look solely to the Trust Fund (to the extent of its rights therein) for
distributions hereunder.

   This Certificate shall be construed in accordance with the internal laws of
the State of New York that are applicable to agreements negotiated, made and to
be performed in said State, and the obligations, rights and remedies of the
Holder hereof shall be determined in accordance with such laws.

<PAGE>

   IN WITNESS WHEREOF, the Trustee has caused this Certificate to be duly
executed.

                                       LaSalle Bank National Association,
                                       as Trustee

                                       By:____________________________________
                                          Authorized Signatory

                          CERTIFICATE OF AUTHENTICATION

   This is one of the Class G Certificates referred to in the within mentioned
Agreement.

Dated:

                                       LaSalle Bank National Association,
                                       as Certificate Registrar

                                       By:____________________________________
                                          Authorized Signatory

<PAGE>

                                   SCHEDULE A

                Certificate Balance of
                Definitive Certificates
            exchanged or transferred for, or
             issued in exchange for or upon     Remaining Principal
            transfer of, an interest in this    Amount of Book Entry    Notation
  Date           Book-Entry Certificate            Certificate           Made By
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------

<PAGE>

                                   ASSIGNMENT

   FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s)
unto ______________________________________________________ (please print or
typewrite name and address including postal zip code of assignee) the beneficial
ownership interest in the Trust Fund evidenced by the within Commercial Mortgage
Pass-Through Certificate and hereby authorize(s) the registration of transfer of
such interest to the above named assignee on the Certificate Register of the
Trust Fund.

I (we) further direct the issuance of a new Commercial Mortgage Pass-Through
Certificate of a like Percentage Interest and Class to the above named assignee
and delivery of such Commercial Mortgage Pass-Through Certificate to the
following address: _____________________________________________________________
________________________________________________________________________________

Dated:

                                          ______________________________________
                                           Signature by or on behalf of Assignor

                                          ______________________________________
                                                    Signature Guaranteed

                            DISTRIBUTION INSTRUCTIONS

   The assignee should include the following for purposes of distribution:

   Distributions shall, if permitted, be made by wire transfer or otherwise, in
immediately available funds, to  ______________________________________ for the
account of _________________________________________________.

   Distributions made by check (such check to be made payable to
____________________________________) and all applicable statements and notices
should be mailed to _______________________________________________.

   This information is provided by _______________________________________, the
assignee named above, or _________________________________________, as its
agent.

<PAGE>

                                  Exhibit A-16
                           Form of Class H Certificate

                           CLASS H COMMERCIAL MORTGAGE
                            PASS-THROUGH CERTIFICATE,
                                  SERIES 2006-2

                      [RULE 144A](1) [REG S](2) CERTIFICATE

This is one of a series of commercial mortgage pass-through certificates
(collectively, the "Certificates"), issued in multiple classes (each, a
"Class"), which series of Certificates evidences the entire beneficial ownership
interest in a trust fund (the "Trust Fund") consisting primarily of a pool (the
"Mortgage Pool") of multifamily and commercial mortgage loans (the "Mortgage
Loans"), such pool being formed and sold by:

                    BANC OF AMERICA COMMERCIAL MORTGAGE INC.

Pass-Through Rate:                       Certificate Principal Balance of this
5.7757% per annum                        Certificate as of the Issue Date:
                                         $[33,739,000]

Date of Pooling and Servicing Agreement: Class Principal Balance of all the
June 1, 2006                             Class H Certificates as of the Issue
                                         Date:
                                         $[33,739,000]

Cut-off Date:                            Initial Pool Balance: $$[2,699,084,457]
June 1, 2006

Issue Date:
June 22, 2006

First Distribution Date:
July 10, 2006

Master Servicer:                         Trustee and REMIC Administrator:
Bank of America, N.A.                    LaSalle Bank National Association

Special Servicer:
LNR Partners, Inc.

Certificate No.: H-[__]                  CUSIP No.: [________](1)
                                         CUSIP No.: [________](2)

----------
(1) For Rule 144A Book-Entry Certificates only.

(2) For Reg S Book-Entry Certificates only.

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST CORPORATION, A NEW YORK CORPORATION ("DTC"), TO THE DEPOSITOR,
THE TRUSTEE, THE CERTIFICATE REGISTRAR OR ANY AGENT THEREOF FOR REGISTRATION OF
TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER
ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER,
PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
HEREIN.

THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN BANC OF
AMERICA COMMERCIAL MORTGAGE INC., BANK OF AMERICA, N.A., LNR PARTNERS, INC.,
LASALLE BANK NATIONAL ASSOCIATION OR ANY OF THEIR RESPECTIVE AFFILIATES. NEITHER
THIS CERTIFICATE NOR THE MORTGAGE LOANS ARE GUARANTEED BY ANY AGENCY OR
INSTRUMENTALITY OF THE UNITED STATES OR ANY OTHER PERSON.

THE CLASS OF CERTIFICATES TO WHICH THIS CERTIFICATE BELONGS IS SUBORDINATE TO
ONE OR MORE OTHER CLASSES OF CERTIFICATES OF THE SAME SERIES, AS AND TO THE
EXTENT PROVIDED IN THE AGREEMENT REFERRED TO HEREIN.

THIS CERTIFICATE HAS NOT BEEN REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT
OF 1933, AS AMENDED (THE "SECURITIES ACT"), OR THE SECURITIES LAWS OF ANY STATE.
ANY RESALE, TRANSFER OR OTHER DISPOSITION OF THIS CERTIFICATE WITHOUT SUCH
REGISTRATION OR QUALIFICATION MAY BE MADE ONLY IN A TRANSACTION WHICH DOES NOT
REQUIRE SUCH REGISTRATION OR QUALIFICATION AND IN ACCORDANCE WITH THE PROVISIONS
OF SECTION 5.02 OF THE AGREEMENT REFERRED TO HEREIN.

THE HOLDER OF THIS CERTIFICATE BY ITS ACCEPTANCE HEREOF AGREES NOT TO OFFER,
SELL OR OTHERWISE TRANSFER SUCH CERTIFICATE EXCEPT IN ACCORDANCE WITH ALL
APPLICABLE STATE SECURITIES LAWS AND (A) PURSUANT TO A REGISTRATION STATEMENT
WHICH HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT, (B) FOR SO LONG AS
THIS CERTIFICATE IS ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE
SECURITIES ACT ("RULE 144A"), TO A PERSON WHO THE SELLER REASONABLY BELIEVES IS
A "QUALIFIED INSTITUTIONAL BUYER" AS DEFINED IN RULE 144A IN A TRANSACTION
MEETING THE REQUIREMENTS OF RULE 144A, (C) IN AN OFFSHORE TRANSACTION COMPLYING
WITH RULE 903 OR 904 OF REGULATION S UNDER THE SECURITIES ACT, (D) TO AN
INSTITUTIONAL "ACCREDITED INVESTOR" WITHIN THE MEANING OF RULE 501 (A)(1), (2),
(3) OR (7) OF REGULATION D UNDER THE SECURITIES ACT IN A TRANSACTION EXEMPT FROM
THE REGISTRATION REQUIREMENTS UNDER THE SECURITIES ACT, OR (E) PURSUANT TO
ANOTHER AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES
ACT, SUBJECT IN EACH OF THE FOREGOING CASES TO THE COMPLETION AND DELIVERY BY
THE TRANSFEROR TO THE TRUSTEE OF AN INVESTMENT REPRESENTATION LETTER.

FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE REPRESENTS A "REGULAR
INTEREST" IN A "REAL ESTATE MORTGAGE INVESTMENT CONDUIT" (A "REMIC") AS THOSE
TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL
REVENUE CODE OF 1986, AS AMENDED.

THE OUTSTANDING CERTIFICATE PRINCIPAL BALANCE HEREOF OF AT ANY TIME MAY BE LESS
THAN THE AMOUNT SHOWN ABOVE.

   This certifies that Cede & Co. is the registered owner of the Percentage
Interest evidenced by this Certificate (obtained by dividing the principal
balance of this Certificate (its "Certificate Principal Balance") as of the
Issue Date by the aggregate principal balance of all the Certificates of the
same Class as this Certificate (their "Class Principal Balance") as of the Issue
Date) in that certain beneficial ownership interest in the Trust Fund evidenced
by all the Certificates of the same Class as this Certificate. The Trust Fund
was created and the Certificates were issued pursuant to a Pooling and Servicing
Agreement, dated as specified above (the "Agreement"), among Banc of America
Commercial Mortgage Inc., as Depositor, and the Master Servicer, the Special
Servicer and the Trustee and REMIC Administrator identified above. To the extent
not defined herein, the capitalized terms used herein have the respective
meanings assigned in the Agreement. This Certificate is issued under and is
subject to the terms, provisions and conditions of the Agreement, to which
Agreement the Holder of this Certificate by virtue of the acceptance hereof
assents and by which such Holder is bound.

   Pursuant to the terms of the Agreement, distributions will be made on the
10th day of each month or, if such 10th day is not a Business Day, the Business
Day immediately following (each, a "Distribution Date"), commencing on the first
Distribution Date specified above, to the Person in whose name this Certificate
is registered at the close of business on the last Business Day of the month
immediately preceding the month of such distribution (the "Record Date"), in an
amount equal to the product of the Percentage Interest evidenced by this
Certificate and the amount required to be distributed pursuant to the Agreement
on the applicable Distribution Date in respect of the Class of Certificates to
which this Certificate belongs. All distributions made under the Agreement in
respect of this Certificate will be made by the Trustee by wire transfer in
immediately available funds to the account of the Person entitled thereto at a
bank or other entity having appropriate facilities therefor, if such
Certificateholder shall have provided the Trustee with written wiring
instructions no less than five (5) Business Days prior to the Record Date for
such distribution (which wiring instructions may be in the form of a standing
order applicable to all subsequent distributions as well), or otherwise by check
mailed to the address of such Certificateholder appearing in the Certificate
Register. Notwithstanding the above, the final distribution in respect of this
Certificate (determined without regard to any possible future reimbursement of
any Realized Loss or Additional Trust Fund Expense previously allocated to this
Certificate) will be made after due notice by the Trustee of the pendency of
such distribution and only upon presentation and surrender of this Certificate
at the offices of the Certificate Registrar appointed as provided in the
Agreement or such other location as may be specified in such notice. Also
notwithstanding the foregoing, any distribution that may be made with respect to
this Certificate in reimbursement of any Realized Loss or Additional Trust Fund
Expense previously allocated to this Certificate, which reimbursement is to
occur after the date on which this Certificate is surrendered as contemplated by
the preceding sentence, will be made by check mailed to the address of the
Holder that surrenders this Certificate as such address last appeared in the
Certificate Register or to any such other address of which the Trustee is
subsequently notified in writing.

   Any distribution to the Holder of this Certificate in reduction of the
Certificate Principal Balance hereof is binding on such Holder and all future
Holders of this Certificate and any Certificate issued upon the transfer hereof
or in exchange herefor or in lieu hereof whether or not notation of such
distribution is made upon this Certificate.

   The Certificates are limited in right of distribution to certain collections
and recoveries respecting the Mortgage Loans, all as more specifically set forth
herein and in the Agreement. As provided in the Agreement, withdrawals from the
Certificate Account, the Distribution Account and, if established, the REO
Account may be made from time to time for purposes other than, and, in certain
cases, prior to, distributions to Certificateholders, such purposes including
the reimbursement of advances made, or certain expenses incurred, with respect
to the Mortgage Loans and the payment of interest on such advances and expenses.

   The Certificates are issuable in fully registered form only without coupons
in minimum denominations specified in the Agreement. As provided in the
Agreement and subject to certain limitations therein set forth, the Certificates
are exchangeable for new Certificates of the same Class in authorized
denominations evidencing the same aggregate Percentage Interest, as requested by
the Holder surrendering the same.

   As provided in the Agreement and subject to certain limitations therein set
forth, the transfer of this Certificate is registrable in the Certificate
Register upon surrender of this Certificate for registration of transfer at the
offices of the Certificate Registrar, duly endorsed by, or accompanied by a
written instrument of transfer in the form satisfactory to the Certificate
Registrar duly executed by, the Holder hereof or his attorney duly authorized in
writing, and thereupon one or more new Certificates of the same Class in
authorized denominations evidencing the same aggregate Percentage Interest will
be issued to the designated transferee or transferees.

   No service charge will be imposed for any registration of transfer or
exchange of Certificates, but the Trustee or the Certificate Registrar may
require payment of a sum sufficient to cover any tax or other governmental
charge that may be imposed in connection with any transfer or exchange of
Certificates.

   For so long as this Certificate is registered in the name of Cede & Co., or
in such other name as is requested by an authorized representative of DTC,
transfers of interests in this Certificate shall be made through the book entry
facilities of DTC.

   Prior to due presentment of this Certificate for registration of transfer,
the Depositor, the Master Servicer, the Special Servicer, the Trustee, the REMIC
Administrator, the Certificate Registrar and any agents of any of them may treat
the Person in whose name this Certificate is registered as the owner hereof for
all purposes, and none of the Depositor, the Master Servicer, the Special
Servicer, the Trustee, the REMIC Administrator, the Certificate Registrar or any
such agent shall be affected by notice to the contrary.

   The Trust Fund and the obligations created by the Agreement shall terminate
upon distribution (or provision for distribution) to the Certificateholders of
all amounts held by or on behalf of the Trustee and required to be distributed
to them pursuant to the Agreement following the earlier of (i) the purchase by
the Majority Certificateholder of the Controlling Class (other than the
Depositor or any Mortgage Loan Seller), the Master Servicer or the Special
Servicer (in that order of priority) of all Mortgage Loans and each REO Property
remaining in REMIC I at a price determined as provided in the Agreement, and
(ii) the final payment or other liquidation (or any Advance with respect
thereto) of the last Mortgage Loan or REO Property remaining in REMIC I. The
Agreement permits, but does not require, any such Majority Certificateholder,
the Master Servicer or the Special Servicer to purchase from the Trust Fund all
Mortgage Loans and any REO Properties remaining therein. The exercise of such
right will effect early retirement of the Certificates; however, such right to
purchase is subject to the aggregate Stated Principal Balance of the Mortgage
Pool at the time of purchase being less than 1% of the Initial Pool Balance
specified on the face hereof.

   The Agreement permits, with certain exceptions therein provided, the
amendment thereof, and the modification of the rights and obligations of the
Depositor, the Master Servicer, the Special Servicer and the Trustee and REMIC
Administrator thereunder and the rights of the Certificateholders thereunder, at
any time by the Depositor, the Master Servicer, the Special Servicer and the
Trustee and REMIC Administrator with the consent of the Holders of Certificates
entitled to at least 51% of the Voting Rights allocated to the affected Classes.
Any such consent by the Holder of this Certificate shall be conclusive and
binding on such Holder and upon all future Holders of this Certificate and of
any Certificate issued upon the transfer hereof or in exchange herefor or in
lieu hereof whether or not notation of such consent is made upon this
Certificate. The Agreement also permits the amendment thereof, in certain
circumstances, including any amendment necessary to maintain the status of REMIC
I or REMIC II as a REMIC, without the consent of the Holders of any of the
Certificates.

   Unless the certificate of authentication hereon has been executed by the
Certificate Registrar, by manual signature, this Certificate shall not be
entitled to any benefit under the Agreement or be valid for any purpose.

   The registered Holder hereof, by its acceptance hereof, agrees that it will
look solely to the Trust Fund (to the extent of its rights therein) for
distributions hereunder.

   This Certificate shall be construed in accordance with the internal laws of
the State of New York that are applicable to agreements negotiated, made and to
be performed in said State, and the obligations, rights and remedies of the
Holder hereof shall be determined in accordance with such laws.

<PAGE>

   IN WITNESS WHEREOF, the Trustee has caused this Certificate to be duly
executed.

                                       LaSalle Bank National Association,
                                       as Trustee

                                       By:____________________________________
                                          Authorized Signatory

                          CERTIFICATE OF AUTHENTICATION

   This is one of the Class H Certificates referred to in the within mentioned
Agreement.

Dated:

                                       LaSalle Bank National Association,
                                       as Certificate Registrar

                                       By:____________________________________
                                          Authorized Signatory

<PAGE>

                                   SCHEDULE A

                Certificate Balance of
                Definitive Certificates
            exchanged or transferred for, or
             issued in exchange for or upon     Remaining Principal
            transfer of, an interest in this    Amount of Book Entry    Notation
  Date           Book-Entry Certificate            Certificate           Made By
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------

<PAGE>

                                   ASSIGNMENT

   FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s)
unto ______________________________________________________ (please print or
typewrite name and address including postal zip code of assignee) the beneficial
ownership interest in the Trust Fund evidenced by the within Commercial Mortgage
Pass-Through Certificate and hereby authorize(s) the registration of transfer of
such interest to the above named assignee on the Certificate Register of the
Trust Fund.

I (we) further direct the issuance of a new Commercial Mortgage Pass-Through
Certificate of a like Percentage Interest and Class to the above named assignee
and delivery of such Commercial Mortgage Pass-Through Certificate to the
following address: _____________________________________________________________
________________________________________________________________________________

Dated:

                                          ______________________________________
                                           Signature by or on behalf of Assignor

                                          ______________________________________
                                                    Signature Guaranteed

                            DISTRIBUTION INSTRUCTIONS

   The assignee should include the following for purposes of distribution:

   Distributions shall, if permitted, be made by wire transfer or otherwise, in
immediately available funds, to  ______________________________________ for the
account of _________________________________________________.

   Distributions made by check (such check to be made payable to
____________________________________) and all applicable statements and notices
should be mailed to _______________________________________________.

   This information is provided by _______________________________________, the
assignee named above, or _________________________________________, as its
agent.

<PAGE>

                                  Exhibit A-17
                           Form of Class J Certificate

                           CLASS J COMMERCIAL MORTGAGE
                            PASS-THROUGH CERTIFICATE,
                                  SERIES 2006-2

                      [RULE 144A](1) [REG S](2) CERTIFICATE

This is one of a series of commercial mortgage pass-through certificates
(collectively, the "Certificates"), issued in multiple classes (each, a
"Class"), which series of Certificates evidences the entire beneficial ownership
interest in a trust fund (the "Trust Fund") consisting primarily of a pool (the
"Mortgage Pool") of multifamily and commercial mortgage loans (the "Mortgage
Loans"), such pool being formed and sold by:

                    BANC OF AMERICA COMMERCIAL MORTGAGE INC.

Pass-Through Rate:                       Certificate Principal Balance of this
5.7757% per annum                        Certificate as of the Issue Date:
                                         $[10,121,000]

Date of Pooling and Servicing Agreement: Class Principal Balance of all the
June 1, 2006                             Class J Certificates as of the Issue
                                         Date:
                                         $[10,121,000]

Cut-off Date:                            Initial Pool Balance: $$[2,699,084,457]
June 1, 2006

Issue Date:
June 22, 2006

First Distribution Date:
July 10, 2006

Master Servicer:                         Trustee and REMIC Administrator:
Bank of America, N.A.                    LaSalle Bank National Association

Special Servicer:
LNR Partners, Inc.

Certificate No.: J-[__]                  CUSIP No.: [________](1)
                                         CUSIP No.: [________](2)

----------
(1) For Rule 144A Book-Entry Certificates only.

(2) For Reg S Book-Entry Certificates only.

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST CORPORATION, A NEW YORK CORPORATION ("DTC"), TO THE DEPOSITOR,
THE TRUSTEE, THE CERTIFICATE REGISTRAR OR ANY AGENT THEREOF FOR REGISTRATION OF
TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER
ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER,
PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
HEREIN.

THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN BANC OF
AMERICA COMMERCIAL MORTGAGE INC., BANK OF AMERICA, N.A., LNR PARTNERS, INC.,
LASALLE BANK NATIONAL ASSOCIATION OR ANY OF THEIR RESPECTIVE AFFILIATES. NEITHER
THIS CERTIFICATE NOR THE MORTGAGE LOANS ARE GUARANTEED BY ANY AGENCY OR
INSTRUMENTALITY OF THE UNITED STATES OR ANY OTHER PERSON.

THE CLASS OF CERTIFICATES TO WHICH THIS CERTIFICATE BELONGS IS SUBORDINATE TO
ONE OR MORE OTHER CLASSES OF CERTIFICATES OF THE SAME SERIES, AS AND TO THE
EXTENT PROVIDED IN THE AGREEMENT REFERRED TO HEREIN.

THIS CERTIFICATE HAS NOT BEEN REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT
OF 1933, AS AMENDED (THE "SECURITIES ACT"), OR THE SECURITIES LAWS OF ANY STATE.
ANY RESALE, TRANSFER OR OTHER DISPOSITION OF THIS CERTIFICATE WITHOUT SUCH
REGISTRATION OR QUALIFICATION MAY BE MADE ONLY IN A TRANSACTION WHICH DOES NOT
REQUIRE SUCH REGISTRATION OR QUALIFICATION AND IN ACCORDANCE WITH THE PROVISIONS
OF SECTION 5.02 OF THE AGREEMENT REFERRED TO HEREIN.

THE HOLDER OF THIS CERTIFICATE BY ITS ACCEPTANCE HEREOF AGREES NOT TO OFFER,
SELL OR OTHERWISE TRANSFER SUCH CERTIFICATE EXCEPT IN ACCORDANCE WITH ALL
APPLICABLE STATE SECURITIES LAWS AND (A) PURSUANT TO A REGISTRATION STATEMENT
WHICH HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT, (B) FOR SO LONG AS
THIS CERTIFICATE IS ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE
SECURITIES ACT ("RULE 144A"), TO A PERSON WHO THE SELLER REASONABLY BELIEVES IS
A "QUALIFIED INSTITUTIONAL BUYER" AS DEFINED IN RULE 144A IN A TRANSACTION
MEETING THE REQUIREMENTS OF RULE 144A, (C) IN AN OFFSHORE TRANSACTION COMPLYING
WITH RULE 903 OR 904 OF REGULATION S UNDER THE SECURITIES ACT, (D) TO AN
INSTITUTIONAL "ACCREDITED INVESTOR" WITHIN THE MEANING OF RULE 501 (A)(1), (2),
(3) OR (7) OF REGULATION D UNDER THE SECURITIES ACT IN A TRANSACTION EXEMPT FROM
THE REGISTRATION REQUIREMENTS UNDER THE SECURITIES ACT, OR (E) PURSUANT TO
ANOTHER AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES
ACT, SUBJECT IN EACH OF THE FOREGOING CASES TO THE COMPLETION AND DELIVERY BY
THE TRANSFEROR TO THE TRUSTEE OF AN INVESTMENT REPRESENTATION LETTER.

FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE REPRESENTS A "REGULAR
INTEREST" IN A "REAL ESTATE MORTGAGE INVESTMENT CONDUIT" (A "REMIC") AS THOSE
TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE CODE.

THE OUTSTANDING CERTIFICATE PRINCIPAL BALANCE HEREOF OF AT ANY TIME MAY BE LESS
THAN THE AMOUNT SHOWN ABOVE.

   This certifies that Cede & Co. is the registered owner of the Percentage
Interest evidenced by this Certificate (obtained by dividing the principal
balance of this Certificate (its "Certificate Principal Balance") as of the
Issue Date by the aggregate principal balance of all the Certificates of the
same Class as this Certificate (their "Class Principal Balance") as of the Issue
Date) in that certain beneficial ownership interest in the Trust Fund evidenced
by all the Certificates of the same Class as this Certificate. The Trust Fund
was created and the Certificates were issued pursuant to a Pooling and Servicing
Agreement, dated as specified above (the "Agreement"), among Banc of America
Commercial Mortgage Inc., as Depositor, and the Master Servicer, the Special
Servicer and the Trustee and REMIC Administrator identified above. To the extent
not defined herein, the capitalized terms used herein have the respective
meanings assigned in the Agreement. This Certificate is issued under and is
subject to the terms, provisions and conditions of the Agreement, to which
Agreement the Holder of this Certificate by virtue of the acceptance hereof
assents and by which such Holder is bound.

   Pursuant to the terms of the Agreement, distributions will be made on the
10th day of each month or, if such 10th day is not a Business Day, the Business
Day immediately following (each, a "Distribution Date"), commencing on the first
Distribution Date specified above, to the Person in whose name this Certificate
is registered at the close of business on the last Business Day of the month
immediately preceding the month of such distribution (the "Record Date"), in an
amount equal to the product of the Percentage Interest evidenced by this
Certificate and the amount required to be distributed pursuant to the Agreement
on the applicable Distribution Date in respect of the Class of Certificates to
which this Certificate belongs. All distributions made under the Agreement in
respect of this Certificate will be made by the Trustee by wire transfer in
immediately available funds to the account of the Person entitled thereto at a
bank or other entity having appropriate facilities therefor, if such
Certificateholder shall have provided the Trustee with written wiring
instructions no less than five (5) Business Days prior to the Record Date for
such distribution (which wiring instructions may be in the form of a standing
order applicable to all subsequent distributions as well), or otherwise by check
mailed to the address of such Certificateholder appearing in the Certificate
Register. Notwithstanding the above, the final distribution in respect of this
Certificate (determined without regard to any possible future reimbursement of
any Realized Loss or Additional Trust Fund Expense previously allocated to this
Certificate) will be made after due notice by the Trustee of the pendency of
such distribution and only upon presentation and surrender of this Certificate
at the offices of the Certificate Registrar appointed as provided in the
Agreement or such other location as may be specified in such notice. Also
notwithstanding the foregoing, any distribution that may be made with respect to
this Certificate in reimbursement of any Realized Loss or Additional Trust Fund
Expense previously allocated to this Certificate, which reimbursement is to
occur after the date on which this Certificate is surrendered as contemplated by
the preceding sentence, will be made by check mailed to the address of the
Holder that surrenders this Certificate as such address last appeared in the
Certificate Register or to any such other address of which the Trustee is
subsequently notified in writing.

   Any distribution to the Holder of this Certificate in reduction of the
Certificate Principal Balance hereof is binding on such Holder and all future
Holders of this Certificate and any Certificate issued upon the transfer hereof
or in exchange herefor or in lieu hereof whether or not notation of such
distribution is made upon this Certificate.

   The Certificates are limited in right of distribution to certain collections
and recoveries respecting the Mortgage Loans, all as more specifically set forth
herein and in the Agreement. As provided in the Agreement, withdrawals from the
Certificate Account, the Distribution Account and, if established, the REO
Account may be made from time to time for purposes other than, and, in certain
cases, prior to, distributions to Certificateholders, such purposes including
the reimbursement of advances made, or certain expenses incurred, with respect
to the Mortgage Loans and the payment of interest on such advances and expenses.

   The Certificates are issuable in fully registered form only without coupons
in minimum denominations specified in the Agreement. As provided in the
Agreement and subject to certain limitations therein set forth, the Certificates
are exchangeable for new Certificates of the same Class in authorized
denominations evidencing the same aggregate Percentage Interest, as requested by
the Holder surrendering the same.

   As provided in the Agreement and subject to certain limitations therein set
forth, the transfer of this Certificate is registrable in the Certificate
Register upon surrender of this Certificate for registration of transfer at the
offices of the Certificate Registrar, duly endorsed by, or accompanied by a
written instrument of transfer in the form satisfactory to the Certificate
Registrar duly executed by, the Holder hereof or his attorney duly authorized in
writing, and thereupon one or more new Certificates of the same Class in
authorized denominations evidencing the same aggregate Percentage Interest will
be issued to the designated transferee or transferees.

   No service charge will be imposed for any registration of transfer or
exchange of Certificates, but the Trustee or the Certificate Registrar may
require payment of a sum sufficient to cover any tax or other governmental
charge that may be imposed in connection with any transfer or exchange of
Certificates.

   For so long as this Certificate is registered in the name of Cede & Co., or
in such other name as is requested by an authorized representative of DTC,
transfers of interests in this Certificate shall be made through the book entry
facilities of DTC.

   Prior to due presentment of this Certificate for registration of transfer,
the Depositor, the Master Servicer, the Special Servicer, the Trustee, the REMIC
Administrator, the Certificate Registrar and any agents of any of them may treat
the Person in whose name this Certificate is registered as the owner hereof for
all purposes, and none of the Depositor, the Master Servicer, the Special
Servicer, the Trustee, the REMIC Administrator, the Certificate Registrar or any
such agent shall be affected by notice to the contrary.

   The Trust Fund and the obligations created by the Agreement shall terminate
upon distribution (or provision for distribution) to the Certificateholders of
all amounts held by or on behalf of the Trustee and required to be distributed
to them pursuant to the Agreement following the earlier of (i) the purchase by
the Majority Certificateholder of the Controlling Class (other than the
Depositor or any Mortgage Loan Seller), the Master Servicer or the Special
Servicer (in that order of priority) of all Mortgage Loans and each REO Property
remaining in REMIC I at a price determined as provided in the Agreement, and
(ii) the final payment or other liquidation (or any Advance with respect
thereto) of the last Mortgage Loan or REO Property remaining in REMIC I. The
Agreement permits, but does not require, any such Majority Certificateholder,
the Master Servicer or the Special Servicer to purchase from the Trust Fund all
Mortgage Loans and any REO Properties remaining therein. The exercise of such
right will effect early retirement of the Certificates; however, such right to
purchase is subject to the aggregate Stated Principal Balance of the Mortgage
Pool at the time of purchase being less than 1% of the Initial Pool Balance
specified on the face hereof.

   The Agreement permits, with certain exceptions therein provided, the
amendment thereof, and the modification of the rights and obligations of the
Depositor, the Master Servicer, the Special Servicer and the Trustee and REMIC
Administrator thereunder and the rights of the Certificateholders thereunder, at
any time by the Depositor, the Master Servicer, the Special Servicer and the
Trustee and REMIC Administrator with the consent of the Holders of Certificates
entitled to at least 51% of the Voting Rights allocated to the affected Classes.
Any such consent by the Holder of this Certificate shall be conclusive and
binding on such Holder and upon all future Holders of this Certificate and of
any Certificate issued upon the transfer hereof or in exchange herefor or in
lieu hereof whether or not notation of such consent is made upon this
Certificate. The Agreement also permits the amendment thereof, in certain
circumstances, including any amendment necessary to maintain the status of REMIC
I or REMIC II as a REMIC, without the consent of the Holders of any of the
Certificates.

   Unless the certificate of authentication hereon has been executed by the
Certificate Registrar, by manual signature, this Certificate shall not be
entitled to any benefit under the Agreement or be valid for any purpose.

   The registered Holder hereof, by its acceptance hereof, agrees that it will
look solely to the Trust Fund (to the extent of its rights therein) for
distributions hereunder.

   This Certificate shall be construed in accordance with the internal laws of
the State of New York that are applicable to agreements negotiated, made and to
be performed in said State, and the obligations, rights and remedies of the
Holder hereof shall be determined in accordance with such laws.

<PAGE>

   IN WITNESS WHEREOF, the Trustee has caused this Certificate to be duly
executed.

                                       LaSalle Bank National Association,
                                       as Trustee

                                       By:____________________________________
                                          Authorized Signatory

                          CERTIFICATE OF AUTHENTICATION

   This is one of the Class J Certificates referred to in the within mentioned
Agreement.

Dated:

                                       LaSalle Bank National Association,
                                       as Certificate Registrar

                                       By:____________________________________
                                          Authorized Signatory

<PAGE>

                                   SCHEDULE A

                Certificate Balance of
                Definitive Certificates
            exchanged or transferred for, or
             issued in exchange for or upon     Remaining Principal
            transfer of, an interest in this    Amount of Book Entry    Notation
  Date           Book-Entry Certificate            Certificate           Made By
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------

<PAGE>

                                   ASSIGNMENT

   FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s)
unto ______________________________________________________ (please print or
typewrite name and address including postal zip code of assignee) the beneficial
ownership interest in the Trust Fund evidenced by the within Commercial Mortgage
Pass-Through Certificate and hereby authorize(s) the registration of transfer of
such interest to the above named assignee on the Certificate Register of the
Trust Fund.

I (we) further direct the issuance of a new Commercial Mortgage Pass-Through
Certificate of a like Percentage Interest and Class to the above named assignee
and delivery of such Commercial Mortgage Pass-Through Certificate to the
following address: _____________________________________________________________
________________________________________________________________________________

Dated:

                                          ______________________________________
                                           Signature by or on behalf of Assignor

                                          ______________________________________
                                                    Signature Guaranteed

                            DISTRIBUTION INSTRUCTIONS

   The assignee should include the following for purposes of distribution:

   Distributions shall, if permitted, be made by wire transfer or otherwise, in
immediately available funds, to  ______________________________________ for the
account of _________________________________________________.

   Distributions made by check (such check to be made payable to
____________________________________) and all applicable statements and notices
should be mailed to _______________________________________________.

   This information is provided by _______________________________________, the
assignee named above, or _________________________________________, as its
agent.

<PAGE>

                                  Exhibit A-18
                           Form of Class K Certificate

                           CLASS K COMMERCIAL MORTGAGE
                            PASS-THROUGH CERTIFICATE,
                                  SERIES 2006-2

                    [RULE 144A](1) [REG S](2) CERTIFICATE

This is one of a series of commercial mortgage pass-through certificates
(collectively, the "Certificates"), issued in multiple classes (each, a
"Class"), which series of Certificates evidences the entire beneficial ownership
interest in a trust fund (the "Trust Fund") consisting primarily of a pool (the
"Mortgage Pool") of multifamily and commercial mortgage loans (the "Mortgage
Loans"), such pool being formed and sold by:

                    BANC OF AMERICA COMMERCIAL MORTGAGE INC.

Pass-Through Rate:                       Certificate Principal Balance of this
5.4830% per annum                        Certificate as of the Issue Date:
                                         $[13,496,000]

Date of Pooling and Servicing Agreement: Class Principal Balance of all the
June 1, 2006                             Class K Certificates as of the Issue
                                         Date:
                                         $[13,496,000]

Cut-off Date:                            Initial Pool Balance: $$[2,699,084,457]
June 1, 2006

Issue Date:
June 22, 2006

First Distribution Date:
July 10, 2006

Master Servicer:                         Trustee and REMIC Administrator:
Bank of America, N.A.                    LaSalle Bank National Association

Special Servicer:
LNR Partners, Inc.

Certificate No.: K-[__]                  CUSIP No.: [________](1)
                                         CUSIP No.: [________](2)

----------
(1) For Rule 144A Book-Entry Certificates only.

(2) For Reg S Book-Entry Certificates only.

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST CORPORATION, A NEW YORK CORPORATION ("DTC"), TO THE DEPOSITOR,
THE TRUSTEE, THE CERTIFICATE REGISTRAR OR ANY AGENT THEREOF FOR REGISTRATION OF
TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER
ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER,
PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
HEREIN.

THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN BANC OF
AMERICA COMMERCIAL MORTGAGE INC., BANK OF AMERICA, N.A., LNR PARTNERS, INC.,
LASALLE BANK NATIONAL ASSOCIATION OR ANY OF THEIR RESPECTIVE AFFILIATES. NEITHER
THIS CERTIFICATE NOR THE MORTGAGE LOANS ARE GUARANTEED BY ANY AGENCY OR
INSTRUMENTALITY OF THE UNITED STATES OR ANY OTHER PERSON.

THE CLASS OF CERTIFICATES TO WHICH THIS CERTIFICATE BELONGS IS SUBORDINATE TO
ONE OR MORE OTHER CLASSES OF CERTIFICATES OF THE SAME SERIES, AS AND TO THE
EXTENT PROVIDED IN THE AGREEMENT REFERRED TO HEREIN.

THIS CERTIFICATE HAS NOT BEEN REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT
OF 1933, AS AMENDED (THE "SECURITIES ACT"), OR THE SECURITIES LAWS OF ANY STATE.
ANY RESALE, TRANSFER OR OTHER DISPOSITION OF THIS CERTIFICATE WITHOUT SUCH
REGISTRATION OR QUALIFICATION MAY BE MADE ONLY IN A TRANSACTION WHICH DOES NOT
REQUIRE SUCH REGISTRATION OR QUALIFICATION AND IN ACCORDANCE WITH THE PROVISIONS
OF SECTION 5.02 OF THE AGREEMENT REFERRED TO HEREIN.

THE HOLDER OF THIS CERTIFICATE BY ITS ACCEPTANCE HEREOF AGREES NOT TO OFFER,
SELL OR OTHERWISE TRANSFER SUCH CERTIFICATE EXCEPT IN ACCORDANCE WITH ALL
APPLICABLE STATE SECURITIES LAWS AND (A) PURSUANT TO A REGISTRATION STATEMENT
WHICH HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT, (B) FOR SO LONG AS
THIS CERTIFICATE IS ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE
SECURITIES ACT ("RULE 144A"), TO A PERSON WHO THE SELLER REASONABLY BELIEVES IS
A "QUALIFIED INSTITUTIONAL BUYER" AS DEFINED IN RULE 144A IN A TRANSACTION
MEETING THE REQUIREMENTS OF RULE 144A, (C) IN AN OFFSHORE TRANSACTION COMPLYING
WITH RULE 903 OR 904 OF REGULATION S UNDER THE SECURITIES ACT, (D) TO AN
INSTITUTIONAL "ACCREDITED INVESTOR" WITHIN THE MEANING OF RULE 501 (A)(1), (2),
(3) OR (7) OF REGULATION D UNDER THE SECURITIES ACT IN A TRANSACTION EXEMPT FROM
THE REGISTRATION REQUIREMENTS UNDER THE SECURITIES ACT, OR (E) PURSUANT TO
ANOTHER AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES
ACT, SUBJECT IN EACH OF THE FOREGOING CASES TO THE COMPLETION AND DELIVERY BY
THE TRANSFEROR TO THE TRUSTEE OF AN INVESTMENT REPRESENTATION LETTER.

THIS CERTIFICATE MAY NOT BE PURCHASED OR TRANSFERRED UNLESS THE CERTIFICATE
REGISTRAR SHALL HAVE RECEIVED EITHER (A) AN INVESTMENT REPRESENTATION LETTER
FROM THE PROPOSED PURCHASER OR TRANSFEREE OF SUCH CERTIFICATE, IN FORM AND
SUBSTANCE SATISFACTORY TO THE CERTIFICATE REGISTRAR AND THE DEPOSITOR, TO THE
EFFECT THAT SUCH PROPOSED PURCHASER OR TRANSFEREE IS NOT (I) AN EMPLOYEE BENEFIT
PLAN SUBJECT TO THE FIDUCIARY RESPONSIBILITY PROVISIONS OF THE EMPLOYEE
RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED ("ERISA"), OR A PLAN SUBJECT
TO SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE "CODE"),
OR A GOVERNMENTAL PLAN (AS DEFINED IN SECTION 3(32) OF ERISA) SUBJECT TO ANY
FEDERAL, STATE OR LOCAL LAW ("SIMILAR LAW") WHICH IS, TO A MATERIAL EXTENT,
SIMILAR TO THE FOREGOING PROVISIONS OF ERISA OR THE CODE (EACH A "PLAN") OR (II)
A PERSON ACTING ON BEHALF OF OR USING THE ASSETS OF ANY SUCH PLAN (INCLUDING AN
ENTITY WHOSE UNDERLYING ASSETS INCLUDE PLAN ASSETS BY REASON OF INVESTMENT IN
THE ENTITY BY SUCH PLAN AND THE APPLICATION OF DEPARTMENT OF LABOR REGULATION
ss. 2510.3-101), OTHER THAN AN INSURANCE COMPANY USING THE ASSETS OF ITS GENERAL
ACCOUNT UNDER CIRCUMSTANCES WHEREBY THE PURCHASE AND HOLDING OF SUCH
CERTIFICATES BY SUCH INSURANCE COMPANY WOULD BE EXEMPT FROM THE PROHIBITED
TRANSACTION PROVISIONS OF ERISA AND THE CODE UNDER PROHIBITED TRANSACTION CLASS
EXEMPTION 95-60 OR (B) IF SUCH CERTIFICATE IS PRESENTED FOR REGISTRATION IN THE
NAME OF A PERSON DESCRIBED IN CLAUSES (I) OR (II) ABOVE, AN OPINION OF COUNSEL
IN FORM AND SUBSTANCE SATISFACTORY TO THE CERTIFICATE REGISTRAR AND THE
DEPOSITOR TO THE EFFECT THAT SUCH ACQUISITION AND HOLDING OF SUCH CERTIFICATE BY
SUCH PROPOSED PURCHASER OR TRANSFEREE WILL NOT CONSTITUTE OR RESULT IN A
NON-EXEMPT "PROHIBITED TRANSACTION" WITHIN THE MEANING OF ERISA, SECTION 4975 OF
THE CODE OR ANY SIMILAR LAW, AND WILL NOT SUBJECT THE TRUSTEE, THE CERTIFICATE
REGISTRAR, THE MASTER SERVICER, THE SPECIAL SERVICER, THE PLACEMENT AGENT OR THE
DEPOSITOR TO ANY OBLIGATION OR LIABILITY (INCLUDING OBLIGATIONS OR LIABILITIES
UNDER ERISA, SECTION 4975 OF THE CODE OR ANY SUCH SIMILAR LAW) IN ADDITION TO
THOSE SET FORTH IN THE AGREEMENT. THE TRANSFEREE OF A BENEFICIAL INTEREST IN A
CERTIFICATE THAT IS A BOOK ENTRY CERTIFICATE SHALL BE DEEMED TO REPRESENT THAT
IT IS NOT A PERSON DESCRIBED IN CLAUSES (I) OR (II) ABOVE.

FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE REPRESENTS A "REGULAR
INTEREST" IN A "REAL ESTATE MORTGAGE INVESTMENT CONDUIT" (A "REMIC") AS THOSE
TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE CODE.

THE OUTSTANDING CERTIFICATE PRINCIPAL BALANCE HEREOF OF AT ANY TIME MAY BE LESS
THAN THE AMOUNT SHOWN ABOVE.

   This certifies that Cede & Co. is the registered owner of the Percentage
Interest evidenced by this Certificate (obtained by dividing the principal
balance of this Certificate (its "Certificate Principal Balance") as of the
Issue Date by the aggregate principal balance of all the Certificates of the
same Class as this Certificate (their "Class Principal Balance") as of the Issue
Date) in that certain beneficial ownership interest in the Trust Fund evidenced
by all the Certificates of the same Class as this Certificate. The Trust Fund
was created and the Certificates were issued pursuant to a Pooling and Servicing
Agreement, dated as specified above (the "Agreement"), among Banc of America
Commercial Mortgage Inc., as Depositor, and the Master Servicer, the Special
Servicer and the Trustee and REMIC Administrator identified above. To the extent
not defined herein, the capitalized terms used herein have the respective
meanings assigned in the Agreement. This Certificate is issued under and is
subject to the terms, provisions and conditions of the Agreement, to which
Agreement the Holder of this Certificate by virtue of the acceptance hereof
assents and by which such Holder is bound.

   Pursuant to the terms of the Agreement, distributions will be made on the
10th day of each month or, if such 10th day is not a Business Day, the Business
Day immediately following (each, a "Distribution Date"), commencing on the first
Distribution Date specified above, to the Person in whose name this Certificate
is registered at the close of business on the last Business Day of the month
immediately preceding the month of such distribution (the "Record Date"), in an
amount equal to the product of the Percentage Interest evidenced by this
Certificate and the amount required to be distributed pursuant to the Agreement
on the applicable Distribution Date in respect of the Class of Certificates to
which this Certificate belongs. All distributions made under the Agreement in
respect of this Certificate will be made by the Trustee by wire transfer in
immediately available funds to the account of the Person entitled thereto at a
bank or other entity having appropriate facilities therefor, if such
Certificateholder shall have provided the Trustee with written wiring
instructions no less than five (5) Business Days prior to the Record Date for
such distribution (which wiring instructions may be in the form of a standing
order applicable to all subsequent distributions as well), or otherwise by check
mailed to the address of such Certificateholder appearing in the Certificate
Register. Notwithstanding the above, the final distribution in respect of this
Certificate (determined without regard to any possible future reimbursement of
any Realized Loss or Additional Trust Fund Expense previously allocated to this
Certificate) will be made after due notice by the Trustee of the pendency of
such distribution and only upon presentation and surrender of this Certificate
at the offices of the Certificate Registrar appointed as provided in the
Agreement or such other location as may be specified in such notice. Also
notwithstanding the foregoing, any distribution that may be made with respect to
this Certificate in reimbursement of any Realized Loss or Additional Trust Fund
Expense previously allocated to this Certificate, which reimbursement is to
occur after the date on which this Certificate is surrendered as contemplated by
the preceding sentence, will be made by check mailed to the address of the
Holder that surrenders this Certificate as such address last appeared in the
Certificate Register or to any such other address of which the Trustee is
subsequently notified in writing.

   Any distribution to the Holder of this Certificate in reduction of the
Certificate Principal Balance hereof is binding on such Holder and all future
Holders of this Certificate and any Certificate issued upon the transfer hereof
or in exchange herefor or in lieu hereof whether or not notation of such
distribution is made upon this Certificate.

   The Certificates are limited in right of distribution to certain collections
and recoveries respecting the Mortgage Loans, all as more specifically set forth
herein and in the Agreement. As provided in the Agreement, withdrawals from the
Certificate Account, the Distribution Account and, if established, the REO
Account may be made from time to time for purposes other than, and, in certain
cases, prior to, distributions to Certificateholders, such purposes including
the reimbursement of advances made, or certain expenses incurred, with respect
to the Mortgage Loans and the payment of interest on such advances and expenses.

   The Certificates are issuable in fully registered form only without coupons
in minimum denominations specified in the Agreement. As provided in the
Agreement and subject to certain limitations therein set forth, the Certificates
are exchangeable for new Certificates of the same Class in authorized
denominations evidencing the same aggregate Percentage Interest, as requested by
the Holder surrendering the same.

   As provided in the Agreement and subject to certain limitations therein set
forth, the transfer of this Certificate is registrable in the Certificate
Register upon surrender of this Certificate for registration of transfer at the
offices of the Certificate Registrar, duly endorsed by, or accompanied by a
written instrument of transfer in the form satisfactory to the Certificate
Registrar duly executed by, the Holder hereof or his attorney duly authorized in
writing, and thereupon one or more new Certificates of the same Class in
authorized denominations evidencing the same aggregate Percentage Interest will
be issued to the designated transferee or transferees.

   For so long as this Certificate is registered in the name of Cede & Co., or
in such other name as is requested by an authorized representative of DTC,
transfers of interests in this Certificate shall be made through the book entry
facilities of DTC.

   No service charge will be imposed for any registration of transfer or
exchange of Certificates, but the Trustee or the Certificate Registrar may
require payment of a sum sufficient to cover any tax or other governmental
charge that may be imposed in connection with any transfer or exchange of
Certificates.

   Prior to due presentment of this Certificate for registration of transfer,
the Depositor, the Master Servicer, the Special Servicer, the Trustee, the REMIC
Administrator, the Certificate Registrar and any agents of any of them may treat
the Person in whose name this Certificate is registered as the owner hereof for
all purposes, and none of the Depositor, the Master Servicer, the Special
Servicer, the Trustee, the REMIC Administrator, the Certificate Registrar or any
such agent shall be affected by notice to the contrary.

   The Trust Fund and the obligations created by the Agreement shall terminate
upon distribution (or provision for distribution) to the Certificateholders of
all amounts held by or on behalf of the Trustee and required to be distributed
to them pursuant to the Agreement following the earlier of (i) the purchase by
the Majority Certificateholder of the Controlling Class (other than the
Depositor or any Mortgage Loan Seller), the Master Servicer or the Special
Servicer (in that order of priority) of all Mortgage Loans and each REO Property
remaining in REMIC I at a price determined as provided in the Agreement, and
(ii) the final payment or other liquidation (or any Advance with respect
thereto) of the last Mortgage Loan or REO Property remaining in REMIC I. The
Agreement permits, but does not require, any such Majority Certificateholder,
the Master Servicer or the Special Servicer to purchase from the Trust Fund all
Mortgage Loans and any REO Properties remaining therein. The exercise of such
right will effect early retirement of the Certificates; however, such right to
purchase is subject to the aggregate Stated Principal Balance of the Mortgage
Pool at the time of purchase being less than 1% of the Initial Pool Balance
specified on the face hereof.

   The Agreement permits, with certain exceptions therein provided, the
amendment thereof, and the modification of the rights and obligations of the
Depositor, the Master Servicer, the Special Servicer and the Trustee and REMIC
Administrator thereunder and the rights of the Certificateholders thereunder, at
any time by the Depositor, the Master Servicer, the Special Servicer and the
Trustee and REMIC Administrator with the consent of the Holders of Certificates
entitled to at least 51% of the Voting Rights allocated to the affected Classes.
Any such consent by the Holder of this Certificate shall be conclusive and
binding on such Holder and upon all future Holders of this Certificate and of
any Certificate issued upon the transfer hereof or in exchange herefor or in
lieu hereof whether or not notation of such consent is made upon this
Certificate. The Agreement also permits the amendment thereof, in certain
circumstances, including any amendment necessary to maintain the status of REMIC
I or REMIC II as a REMIC, without the consent of the Holders of any of the
Certificates.

   Unless the certificate of authentication hereon has been executed by the
Certificate Registrar, by manual signature, this Certificate shall not be
entitled to any benefit under the Agreement or be valid for any purpose.

   The registered Holder hereof, by its acceptance hereof, agrees that it will
look solely to the Trust Fund (to the extent of its rights therein) for
distributions hereunder.

   This Certificate shall be construed in accordance with the internal laws of
the State of New York that are applicable to agreements negotiated, made and to
be performed in said State, and the obligations, rights and remedies of the
Holder hereof shall be determined in accordance with such laws.

<PAGE>

   IN WITNESS WHEREOF, the Trustee has caused this Certificate to be duly
executed.

                                       LaSalle Bank National Association,
                                       as Trustee

                                       By:____________________________________
                                          Authorized Signatory

                          CERTIFICATE OF AUTHENTICATION

   This is one of the Class K Certificates referred to in the within mentioned
Agreement.

Dated:

                                       LaSalle Bank National Association,
                                       as Certificate Registrar

                                       By:____________________________________
                                          Authorized Signatory

<PAGE>

                                   SCHEDULE A

                Certificate Balance of
                Definitive Certificates
            exchanged or transferred for, or
             issued in exchange for or upon     Remaining Principal
            transfer of, an interest in this    Amount of Book Entry    Notation
  Date           Book-Entry Certificate            Certificate           Made By
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------

<PAGE>

                                   ASSIGNMENT

   FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s)
unto ______________________________________________________ (please print or
typewrite name and address including postal zip code of assignee) the beneficial
ownership interest in the Trust Fund evidenced by the within Commercial Mortgage
Pass-Through Certificate and hereby authorize(s) the registration of transfer of
such interest to the above named assignee on the Certificate Register of the
Trust Fund.

I (we) further direct the issuance of a new Commercial Mortgage Pass-Through
Certificate of a like Percentage Interest and Class to the above named assignee
and delivery of such Commercial Mortgage Pass-Through Certificate to the
following address: _____________________________________________________________
________________________________________________________________________________

Dated:

                                          ______________________________________
                                           Signature by or on behalf of Assignor

                                          ______________________________________
                                                    Signature Guaranteed

                            DISTRIBUTION INSTRUCTIONS

   The assignee should include the following for purposes of distribution:

   Distributions shall, if permitted, be made by wire transfer or otherwise, in
immediately available funds, to  ______________________________________ for the
account of _________________________________________________.

   Distributions made by check (such check to be made payable to
____________________________________) and all applicable statements and notices
should be mailed to _______________________________________________.

   This information is provided by _______________________________________, the
assignee named above, or _________________________________________, as its
agent.

<PAGE>

                                  Exhibit A-19
                           Form of Class L Certificate

                           CLASS L COMMERCIAL MORTGAGE
                            PASS-THROUGH CERTIFICATE,
                                  SERIES 2006-2

                      [RULE 144A](1) [REG S](2) CERTIFICATE

This is one of a series of commercial mortgage pass-through certificates
(collectively, the "Certificates"), issued in multiple classes (each, a
"Class"), which series of Certificates evidences the entire beneficial ownership
interest in a trust fund (the "Trust Fund") consisting primarily of a pool (the
"Mortgage Pool") of multifamily and commercial mortgage loans (the "Mortgage
Loans"), such pool being formed and sold by:

                    BANC OF AMERICA COMMERCIAL MORTGAGE INC.

Pass-Through Rate:                       Certificate Principal Balance of this
5.4830%                                  Certificate as of the Issue Date:
                                         $[10,121,000]

Date of Pooling and Servicing Agreement: Class Principal Balance of all the
June 1, 2006                             Class L Certificates as of the Issue
                                         Date:
                                         $[10,121,000]

Cut-off Date:                            Initial Pool Balance: $$[2,699,084,457]
June 1, 2006

Issue Date:
June 22, 2006

First Distribution Date:
July 10, 2006

Master Servicer:                         Trustee and REMIC Administrator:
Bank of America, N.A.                    LaSalle Bank National Association

Special Servicer:
LNR Partners, Inc.

Certificate No.: L-[__]                  CUSIP No.: [________](1)
                                         CUSIP No.: [________](2)

----------
(1) For Rule 144A Book-Entry Certificates only.

(2) For Reg S Book-Entry Certificates only.

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST CORPORATION, A NEW YORK CORPORATION ("DTC"), TO THE DEPOSITOR,
THE TRUSTEE, THE CERTIFICATE REGISTRAR OR ANY AGENT THEREOF FOR REGISTRATION OF
TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER
ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER,
PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
HEREIN.

THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN BANC OF
AMERICA COMMERCIAL MORTGAGE INC., BANK OF AMERICA, N.A., LNR PARTNERS, INC.,
LASALLE BANK NATIONAL ASSOCIATION OR ANY OF THEIR RESPECTIVE AFFILIATES. NEITHER
THIS CERTIFICATE NOR THE MORTGAGE LOANS ARE GUARANTEED BY ANY AGENCY OR
INSTRUMENTALITY OF THE UNITED STATES OR ANY OTHER PERSON.

THE CLASS OF CERTIFICATES TO WHICH THIS CERTIFICATE BELONGS IS SUBORDINATE TO
ONE OR MORE OTHER CLASSES OF CERTIFICATES OF THE SAME SERIES, AS AND TO THE
EXTENT PROVIDED IN THE AGREEMENT REFERRED TO HEREIN.

THIS CERTIFICATE HAS NOT BEEN REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT
OF 1933, AS AMENDED (THE "SECURITIES ACT"), OR THE SECURITIES LAWS OF ANY STATE.
ANY RESALE, TRANSFER OR OTHER DISPOSITION OF THIS CERTIFICATE WITHOUT SUCH
REGISTRATION OR QUALIFICATION MAY BE MADE ONLY IN A TRANSACTION WHICH DOES NOT
REQUIRE SUCH REGISTRATION OR QUALIFICATION AND IN ACCORDANCE WITH THE PROVISIONS
OF SECTION 5.02 OF THE AGREEMENT REFERRED TO HEREIN.

THE HOLDER OF THIS CERTIFICATE BY ITS ACCEPTANCE HEREOF AGREES NOT TO OFFER,
SELL OR OTHERWISE TRANSFER SUCH CERTIFICATE EXCEPT IN ACCORDANCE WITH ALL
APPLICABLE STATE SECURITIES LAWS AND (A) PURSUANT TO A REGISTRATION STATEMENT
WHICH HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT, (B) FOR SO LONG AS
THIS CERTIFICATE IS ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE
SECURITIES ACT ("RULE 144A"), TO A PERSON WHO THE SELLER REASONABLY BELIEVES IS
A "QUALIFIED INSTITUTIONAL BUYER" AS DEFINED IN RULE 144A IN A TRANSACTION
MEETING THE REQUIREMENTS OF RULE 144A, (C) IN AN OFFSHORE TRANSACTION COMPLYING
WITH RULE 903 OR 904 OF REGULATION S UNDER THE SECURITIES ACT, (D) TO AN
INSTITUTIONAL "ACCREDITED INVESTOR" WITHIN THE MEANING OF RULE 501 (A)(1), (2),
(3) OR (7) OF REGULATION D UNDER THE SECURITIES ACT IN A TRANSACTION EXEMPT FROM
THE REGISTRATION REQUIREMENTS UNDER THE SECURITIES ACT, OR (E) PURSUANT TO
ANOTHER AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES
ACT, SUBJECT IN EACH OF THE FOREGOING CASES TO THE COMPLETION AND DELIVERY BY
THE TRANSFEROR TO THE TRUSTEE OF AN INVESTMENT REPRESENTATION LETTER.

THIS CERTIFICATE MAY NOT BE PURCHASED OR TRANSFERRED UNLESS THE CERTIFICATE
REGISTRAR SHALL HAVE RECEIVED EITHER (A) AN INVESTMENT REPRESENTATION LETTER
FROM THE PROPOSED PURCHASER OR TRANSFEREE OF SUCH CERTIFICATE, IN FORM AND
SUBSTANCE SATISFACTORY TO THE CERTIFICATE REGISTRAR AND THE DEPOSITOR, TO THE
EFFECT THAT SUCH PROPOSED PURCHASER OR TRANSFEREE IS NOT (I) AN EMPLOYEE BENEFIT
PLAN SUBJECT TO THE FIDUCIARY RESPONSIBILITY PROVISIONS OF THE EMPLOYEE
RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED ("ERISA"), OR A PLAN SUBJECT
TO SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE "CODE"),
OR A GOVERNMENTAL PLAN (AS DEFINED IN SECTION 3(32) OF ERISA) SUBJECT TO ANY
FEDERAL, STATE OR LOCAL LAW ("SIMILAR LAW") WHICH IS, TO A MATERIAL EXTENT,
SIMILAR TO THE FOREGOING PROVISIONS OF ERISA OR THE CODE (EACH A "PLAN") OR (II)
A PERSON ACTING ON BEHALF OF OR USING THE ASSETS OF ANY SUCH PLAN (INCLUDING AN
ENTITY WHOSE UNDERLYING ASSETS INCLUDE PLAN ASSETS BY REASON OF INVESTMENT IN
THE ENTITY BY SUCH PLAN AND THE APPLICATION OF DEPARTMENT OF LABOR REGULATION
ss. 2510.3-101), OTHER THAN AN INSURANCE COMPANY USING THE ASSETS OF ITS GENERAL
ACCOUNT UNDER CIRCUMSTANCES WHEREBY THE PURCHASE AND HOLDING OF SUCH
CERTIFICATES BY SUCH INSURANCE COMPANY WOULD BE EXEMPT FROM THE PROHIBITED
TRANSACTION PROVISIONS OF ERISA AND THE CODE UNDER PROHIBITED TRANSACTION CLASS
EXEMPTION 95-60 OR (B) IF SUCH CERTIFICATE IS PRESENTED FOR REGISTRATION IN THE
NAME OF A PERSON DESCRIBED IN CLAUSES (I) OR (II) ABOVE, AN OPINION OF COUNSEL
IN FORM AND SUBSTANCE SATISFACTORY TO THE CERTIFICATE REGISTRAR AND THE
DEPOSITOR TO THE EFFECT THAT SUCH ACQUISITION AND HOLDING OF SUCH CERTIFICATE BY
SUCH PROPOSED PURCHASER OR TRANSFEREE WILL NOT CONSTITUTE OR RESULT IN A
NON-EXEMPT "PROHIBITED TRANSACTION" WITHIN THE MEANING OF ERISA, SECTION 4975 OF
THE CODE OR ANY SIMILAR LAW, AND WILL NOT SUBJECT THE TRUSTEE, THE CERTIFICATE
REGISTRAR, THE MASTER SERVICER, THE SPECIAL SERVICER, THE PLACEMENT AGENT OR THE
DEPOSITOR TO ANY OBLIGATION OR LIABILITY (INCLUDING OBLIGATIONS OR LIABILITIES
UNDER ERISA, SECTION 4975 OF THE CODE OR ANY SUCH SIMILAR LAW) IN ADDITION TO
THOSE SET FORTH IN THE AGREEMENT. THE TRANSFEREE OF A BENEFICIAL INTEREST IN A
CERTIFICATE THAT IS A BOOK ENTRY CERTIFICATE SHALL BE DEEMED TO REPRESENT THAT
IT IS NOT A PERSON DESCRIBED IN CLAUSES (I) OR (II) ABOVE.

FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE REPRESENTS A "REGULAR
INTEREST" IN A "REAL ESTATE MORTGAGE INVESTMENT CONDUIT" (A "REMIC") AS THOSE
TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE CODE.

THE OUTSTANDING CERTIFICATE PRINCIPAL BALANCE HEREOF AT ANY TIME MAY BE LESS
THAN THE AMOUNT SHOWN ABOVE.

   This certifies that Cede & Co. is the registered owner of the Percentage
Interest evidenced by this Certificate (obtained by dividing the principal
balance of this Certificate (its "Certificate Principal Balance") as of the
Issue Date by the aggregate principal balance of all the Certificates of the
same Class as this Certificate (their "Class Principal Balance") as of the Issue
Date) in that certain beneficial ownership interest in the Trust Fund evidenced
by all the Certificates of the same Class as this Certificate. The Trust Fund
was created and the Certificates were issued pursuant to a Pooling and Servicing
Agreement, dated as specified above (the "Agreement"), among Banc of America
Commercial Mortgage Inc., as Depositor, and the Master Servicer, the Special
Servicer and the Trustee and REMIC Administrator identified above. To the extent
not defined herein, the capitalized terms used herein have the respective
meanings assigned in the Agreement. This Certificate is issued under and is
subject to the terms, provisions and conditions of the Agreement, to which
Agreement the Holder of this Certificate by virtue of the acceptance hereof
assents and by which such Holder is bound.

   Pursuant to the terms of the Agreement, distributions will be made on the
10th day of each month or, if such 10th day is not a Business Day, the Business
Day immediately following (each, a "Distribution Date"), commencing on the first
Distribution Date specified above, to the Person in whose name this Certificate
is registered at the close of business on the last Business Day of the month
immediately preceding the month of such distribution (the "Record Date"), in an
amount equal to the product of the Percentage Interest evidenced by this
Certificate and the amount required to be distributed pursuant to the Agreement
on the applicable Distribution Date in respect of the Class of Certificates to
which this Certificate belongs. All distributions made under the Agreement in
respect of this Certificate will be made by the Trustee by wire transfer in
immediately available funds to the account of the Person entitled thereto at a
bank or other entity having appropriate facilities therefor, if such
Certificateholder shall have provided the Trustee with written wiring
instructions no less than five (5) Business Days prior to the Record Date for
such distribution (which wiring instructions may be in the form of a standing
order applicable to all subsequent distributions as well), or otherwise by check
mailed to the address of such Certificateholder appearing in the Certificate
Register. Notwithstanding the above, the final distribution in respect of this
Certificate (determined without regard to any possible future reimbursement of
any Realized Loss or Additional Trust Fund Expense previously allocated to this
Certificate) will be made after due notice by the Trustee of the pendency of
such distribution and only upon presentation and surrender of this Certificate
at the offices of the Certificate Registrar appointed as provided in the
Agreement or such other location as may be specified in such notice. Also
notwithstanding the foregoing, any distribution that may be made with respect to
this Certificate in reimbursement of any Realized Loss or Additional Trust Fund
Expense previously allocated to this Certificate, which reimbursement is to
occur after the date on which this Certificate is surrendered as contemplated by
the preceding sentence, will be made by check mailed to the address of the
Holder that surrenders this Certificate as such address last appeared in the
Certificate Register or to any such other address of which the Trustee is
subsequently notified in writing.

   Any distribution to the Holder of this Certificate in reduction of the
Certificate Principal Balance hereof is binding on such Holder and all future
Holders of this Certificate and any Certificate issued upon the transfer hereof
or in exchange herefor or in lieu hereof whether or not notation of such
distribution is made upon this Certificate.

   The Certificates are limited in right of distribution to certain collections
and recoveries respecting the Mortgage Loans, all as more specifically set forth
herein and in the Agreement. As provided in the Agreement, withdrawals from the
Certificate Account, the Distribution Account and, if established, the REO
Account may be made from time to time for purposes other than, and, in certain
cases, prior to, distributions to Certificateholders, such purposes including
the reimbursement of advances made, or certain expenses incurred, with respect
to the Mortgage Loans and the payment of interest on such advances and expenses.

   The Certificates are issuable in fully registered form only without coupons
in minimum denominations specified in the Agreement. As provided in the
Agreement and subject to certain limitations therein set forth, the Certificates
are exchangeable for new Certificates of the same Class in authorized
denominations evidencing the same aggregate Percentage Interest, as requested by
the Holder surrendering the same.

   As provided in the Agreement and subject to certain limitations therein set
forth, the transfer of this Certificate is registrable in the Certificate
Register upon surrender of this Certificate for registration of transfer at the
offices of the Certificate Registrar, duly endorsed by, or accompanied by a
written instrument of transfer in the form satisfactory to the Certificate
Registrar duly executed by, the Holder hereof or his attorney duly authorized in
writing, and thereupon one or more new Certificates of the same Class in
authorized denominations evidencing the same aggregate Percentage Interest will
be issued to the designated transferee or transferees.

   No service charge will be imposed for any registration of transfer or
exchange of Certificates, but the Trustee or the Certificate Registrar may
require payment of a sum sufficient to cover any tax or other governmental
charge that may be imposed in connection with any transfer or exchange of
Certificates.

   For so long as this Certificate is registered in the name of Cede & Co., or
in such other name as is requested by an authorized representative of DTC,
transfers of interests in this Certificate shall be made through the book entry
facilities of DTC.

   Prior to due presentment of this Certificate for registration of transfer,
the Depositor, the Master Servicer, the Special Servicer, the Trustee, the REMIC
Administrator, the Certificate Registrar and any agents of any of them may treat
the Person in whose name this Certificate is registered as the owner hereof for
all purposes, and none of the Depositor, the Master Servicer, the Special
Servicer, the Trustee, the REMIC Administrator, the Certificate Registrar or any
such agent shall be affected by notice to the contrary.

   The Trust Fund and the obligations created by the Agreement shall terminate
upon distribution (or provision for distribution) to the Certificateholders of
all amounts held by or on behalf of the Trustee and required to be distributed
to them pursuant to the Agreement following the earlier of (i) the purchase by
the Majority Certificateholder of the Controlling Class (other than the
Depositor or any Mortgage Loan Seller), the Master Servicer or the Special
Servicer (in that order of priority) of all Mortgage Loans and each REO Property
remaining in REMIC I at a price determined as provided in the Agreement, and
(ii) the final payment or other liquidation (or any Advance with respect
thereto) of the last Mortgage Loan or REO Property remaining in REMIC I. The
Agreement permits, but does not require, any such Majority Certificateholder,
the Master Servicer or the Special Servicer to purchase from the Trust Fund all
Mortgage Loans and any REO Properties remaining therein. The exercise of such
right will effect early retirement of the Certificates; however, such right to
purchase is subject to the aggregate Stated Principal Balance of the Mortgage
Pool at the time of purchase being less than 1% of the Initial Pool Balance
specified on the face hereof.

   The Agreement permits, with certain exceptions therein provided, the
amendment thereof, and the modification of the rights and obligations of the
Depositor, the Master Servicer, the Special Servicer and the Trustee and REMIC
Administrator thereunder and the rights of the Certificateholders thereunder, at
any time by the Depositor, the Master Servicer, the Special Servicer and the
Trustee and REMIC Administrator with the consent of the Holders of Certificates
entitled to at least 51% of the Voting Rights allocated to the affected Classes.
Any such consent by the Holder of this Certificate shall be conclusive and
binding on such Holder and upon all future Holders of this Certificate and of
any Certificate issued upon the transfer hereof or in exchange herefor or in
lieu hereof whether or not notation of such consent is made upon this
Certificate. The Agreement also permits the amendment thereof, in certain
circumstances, including any amendment necessary to maintain the status of REMIC
I or REMIC II as a REMIC, without the consent of the Holders of any of the
Certificates.

   Unless the certificate of authentication hereon has been executed by the
Certificate Registrar, by manual signature, this Certificate shall not be
entitled to any benefit under the Agreement or be valid for any purpose.

   The registered Holder hereof, by its acceptance hereof, agrees that it will
look solely to the Trust Fund (to the extent of its rights therein) for
distributions hereunder.

   This Certificate shall be construed in accordance with the internal laws of
the State of New York that are applicable to agreements negotiated, made and to
be performed in said State, and the obligations, rights and remedies of the
Holder hereof shall be determined in accordance with such laws.

<PAGE>

   IN WITNESS WHEREOF, the Trustee has caused this Certificate to be duly
executed.

                                       LaSalle Bank National Association,
                                       as Trustee

                                       By:____________________________________
                                          Authorized Signatory

                          CERTIFICATE OF AUTHENTICATION

   This is one of the Class L Certificates referred to in the within mentioned
Agreement.

Dated:

                                       LaSalle Bank National Association,
                                       as Certificate Registrar

                                       By:____________________________________
                                          Authorized Signatory

<PAGE>

                                   SCHEDULE A

                Certificate Balance of
                Definitive Certificates
            exchanged or transferred for, or
             issued in exchange for or upon     Remaining Principal
            transfer of, an interest in this    Amount of Book Entry    Notation
  Date           Book-Entry Certificate            Certificate           Made By
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------

<PAGE>

                                   ASSIGNMENT

   FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s)
unto ______________________________________________________ (please print or
typewrite name and address including postal zip code of assignee) the beneficial
ownership interest in the Trust Fund evidenced by the within Commercial Mortgage
Pass-Through Certificate and hereby authorize(s) the registration of transfer of
such interest to the above named assignee on the Certificate Register of the
Trust Fund.

I (we) further direct the issuance of a new Commercial Mortgage Pass-Through
Certificate of a like Percentage Interest and Class to the above named assignee
and delivery of such Commercial Mortgage Pass-Through Certificate to the
following address: _____________________________________________________________
________________________________________________________________________________

Dated:

                                          ______________________________________
                                           Signature by or on behalf of Assignor

                                          ______________________________________
                                                    Signature Guaranteed

                            DISTRIBUTION INSTRUCTIONS

   The assignee should include the following for purposes of distribution:

   Distributions shall, if permitted, be made by wire transfer or otherwise, in
immediately available funds, to  ______________________________________ for the
account of _________________________________________________.

   Distributions made by check (such check to be made payable to
____________________________________) and all applicable statements and notices
should be mailed to _______________________________________________.

   This information is provided by _______________________________________, the
assignee named above, or _________________________________________, as its
agent.

<PAGE>

                                  Exhibit A-20
                           Form of Class M Certificate

                           CLASS M COMMERCIAL MORTGAGE
                            PASS-THROUGH CERTIFICATE,
                                  SERIES 2006-2

                      [RULE 144A](1) [REG S](2) CERTIFICATE

This is one of a series of commercial mortgage pass-through certificates
(collectively, the "Certificates"), issued in multiple classes (each, a
"Class"), which series of Certificates evidences the entire beneficial ownership
interest in a trust fund (the "Trust Fund") consisting primarily of a pool (the
"Mortgage Pool") of multifamily and commercial mortgage loans (the "Mortgage
Loans"), such pool being formed and sold by:

                    BANC OF AMERICA COMMERCIAL MORTGAGE INC.

Pass-Through Rate:                       Certificate Principal Balance of this
5.4830%                                  Certificate as of the Issue Date:
                                         $[3,374,000]

Date of Pooling and Servicing Agreement: Class Principal Balance of all the
June 1, 2006                             Class M Certificates as of the Issue
                                         Date:
                                         $[3,374,000]

Cut-off Date:                            Initial Pool Balance: $$[2,699,084,457]
June 1, 2006

Issue Date:
June 22, 2006

First Distribution Date:
July 10, 2006

Master Servicer:                         Trustee and REMIC Administrator:
Bank of America, N.A.                    LaSalle Bank National Association

Special Servicer:
LNR Partners, Inc.

Certificate No.: M-[__]                  CUSIP No.: [________](1)
                                         CUSIP No.: [________](2)

----------
(1) For Rule 144A Book-Entry Certificates only.

(2) For Reg S Book-Entry Certificates only.

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST CORPORATION, A NEW YORK CORPORATION ("DTC"), TO THE DEPOSITOR,
THE TRUSTEE, THE CERTIFICATE REGISTRAR OR ANY AGENT THEREOF FOR REGISTRATION OF
TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER
ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER,
PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
HEREIN.

THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN BANC OF
AMERICA COMMERCIAL MORTGAGE INC., BANK OF AMERICA, N.A., LNR PARTNERS, INC.,
LASALLE BANK NATIONAL ASSOCIATION OR ANY OF THEIR RESPECTIVE AFFILIATES. NEITHER
THIS CERTIFICATE NOR THE MORTGAGE LOANS ARE GUARANTEED BY ANY AGENCY OR
INSTRUMENTALITY OF THE UNITED STATES OR ANY OTHER PERSON.

THE CLASS OF CERTIFICATES TO WHICH THIS CERTIFICATE BELONGS IS SUBORDINATE TO
ONE OR MORE OTHER CLASSES OF CERTIFICATES OF THE SAME SERIES, AS AND TO THE
EXTENT PROVIDED IN THE AGREEMENT REFERRED TO HEREIN.

THIS CERTIFICATE HAS NOT BEEN REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT
OF 1933, AS AMENDED (THE "SECURITIES ACT"), OR THE SECURITIES LAWS OF ANY STATE.
ANY RESALE, TRANSFER OR OTHER DISPOSITION OF THIS CERTIFICATE WITHOUT SUCH
REGISTRATION OR QUALIFICATION MAY BE MADE ONLY IN A TRANSACTION WHICH DOES NOT
REQUIRE SUCH REGISTRATION OR QUALIFICATION AND IN ACCORDANCE WITH THE PROVISIONS
OF SECTION 5.02 OF THE AGREEMENT REFERRED TO HEREIN.

THE HOLDER OF THIS CERTIFICATE BY ITS ACCEPTANCE HEREOF AGREES NOT TO OFFER,
SELL OR OTHERWISE TRANSFER SUCH CERTIFICATE EXCEPT IN ACCORDANCE WITH ALL
APPLICABLE STATE SECURITIES LAWS AND (A) PURSUANT TO A REGISTRATION STATEMENT
WHICH HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT, (B) FOR SO LONG AS
THIS CERTIFICATE IS ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE
SECURITIES ACT ("RULE 144A"), TO A PERSON WHO THE SELLER REASONABLY BELIEVES IS
A "QUALIFIED INSTITUTIONAL BUYER" AS DEFINED IN RULE 144A IN A TRANSACTION
MEETING THE REQUIREMENTS OF RULE 144A, (C) IN AN OFFSHORE TRANSACTION COMPLYING
WITH RULE 903 OR 904 OF REGULATION S UNDER THE SECURITIES ACT, (D) TO AN
INSTITUTIONAL "ACCREDITED INVESTOR" WITHIN THE MEANING OF RULE 501 (A)(1), (2),
(3) OR (7) OF REGULATION D UNDER THE SECURITIES ACT IN A TRANSACTION EXEMPT FROM
THE REGISTRATION REQUIREMENTS UNDER THE SECURITIES ACT, OR (E) PURSUANT TO
ANOTHER AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES
ACT, SUBJECT IN EACH OF THE FOREGOING CASES TO THE COMPLETION AND DELIVERY BY
THE TRANSFEROR TO THE TRUSTEE OF AN INVESTMENT REPRESENTATION LETTER.

THIS CERTIFICATE MAY NOT BE PURCHASED OR TRANSFERRED UNLESS THE CERTIFICATE
REGISTRAR SHALL HAVE RECEIVED EITHER (A) AN INVESTMENT REPRESENTATION LETTER
FROM THE PROPOSED PURCHASER OR TRANSFEREE OF SUCH CERTIFICATE, IN FORM AND
SUBSTANCE SATISFACTORY TO THE CERTIFICATE REGISTRAR AND THE DEPOSITOR, TO THE
EFFECT THAT SUCH PROPOSED PURCHASER OR TRANSFEREE IS NOT (I) AN EMPLOYEE BENEFIT
PLAN SUBJECT TO THE FIDUCIARY RESPONSIBILITY PROVISIONS OF THE EMPLOYEE
RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED ("ERISA"), OR A PLAN SUBJECT
TO SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE "CODE"),
OR A GOVERNMENTAL PLAN (AS DEFINED IN SECTION 3(32) OF ERISA) SUBJECT TO ANY
FEDERAL, STATE OR LOCAL LAW ("SIMILAR LAW") WHICH IS, TO A MATERIAL EXTENT,
SIMILAR TO THE FOREGOING PROVISIONS OF ERISA OR THE CODE (EACH A "PLAN") OR (II)
A PERSON ACTING ON BEHALF OF OR USING THE ASSETS OF ANY SUCH PLAN (INCLUDING AN
ENTITY WHOSE UNDERLYING ASSETS INCLUDE PLAN ASSETS BY REASON OF INVESTMENT IN
THE ENTITY BY SUCH PLAN AND THE APPLICATION OF DEPARTMENT OF LABOR REGULATION
ss. 2510.3-101), OTHER THAN AN INSURANCE COMPANY USING THE ASSETS OF ITS GENERAL
ACCOUNT UNDER CIRCUMSTANCES WHEREBY THE PURCHASE AND HOLDING OF SUCH
CERTIFICATES BY SUCH INSURANCE COMPANY WOULD BE EXEMPT FROM THE PROHIBITED
TRANSACTION PROVISIONS OF ERISA AND THE CODE UNDER PROHIBITED TRANSACTION CLASS
EXEMPTION 95-60 OR (B) IF SUCH CERTIFICATE IS PRESENTED FOR REGISTRATION IN THE
NAME OF A PERSON DESCRIBED IN CLAUSES (I) OR (II) ABOVE, AN OPINION OF COUNSEL
IN FORM AND SUBSTANCE SATISFACTORY TO THE CERTIFICATE REGISTRAR AND THE
DEPOSITOR TO THE EFFECT THAT SUCH ACQUISITION AND HOLDING OF SUCH CERTIFICATE BY
SUCH PROPOSED PURCHASER OR TRANSFEREE WILL NOT CONSTITUTE OR RESULT IN A
NON-EXEMPT "PROHIBITED TRANSACTION" WITHIN THE MEANING OF ERISA, SECTION 4975 OF
THE CODE OR ANY SIMILAR LAW, AND WILL NOT SUBJECT THE TRUSTEE, THE CERTIFICATE
REGISTRAR, THE MASTER SERVICER, THE SPECIAL SERVICER, THE PLACEMENT AGENT OR THE
DEPOSITOR TO ANY OBLIGATION OR LIABILITY (INCLUDING OBLIGATIONS OR LIABILITIES
UNDER ERISA, SECTION 4975 OF THE CODE OR ANY SUCH SIMILAR LAW) IN ADDITION TO
THOSE SET FORTH IN THE AGREEMENT. THE TRANSFEREE OF A BENEFICIAL INTEREST IN A
CERTIFICATE THAT IS A BOOK ENTRY CERTIFICATE SHALL BE DEEMED TO REPRESENT THAT
IT IS NOT A PERSON DESCRIBED IN CLAUSES (I) OR (II) ABOVE.

FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE REPRESENTS A "REGULAR
INTEREST" IN A "REAL ESTATE MORTGAGE INVESTMENT CONDUIT" (A "REMIC") AS THOSE
TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE CODE.

THE OUTSTANDING CERTIFICATE PRINCIPAL BALANCE HEREOF AT ANY TIME MAY BE LESS
THAN THE AMOUNT SHOWN ABOVE.

   This certifies that Cede & Co. is the registered owner of the Percentage
Interest evidenced by this Certificate (obtained by dividing the principal
balance of this Certificate (its "Certificate Principal Balance") as of the
Issue Date by the aggregate principal balance of all the Certificates of the
same Class as this Certificate (their "Class Principal Balance") as of the Issue
Date) in that certain beneficial ownership interest in the Trust Fund evidenced
by all the Certificates of the same Class as this Certificate. The Trust Fund
was created and the Certificates were issued pursuant to a Pooling and Servicing
Agreement, dated as specified above (the "Agreement"), among Banc of America
Commercial Mortgage Inc., as Depositor, and the Master Servicer, the Special
Servicer and the Trustee and REMIC Administrator identified above. To the extent
not defined herein, the capitalized terms used herein have the respective
meanings assigned in the Agreement. This Certificate is issued under and is
subject to the terms, provisions and conditions of the Agreement, to which
Agreement the Holder of this Certificate by virtue of the acceptance hereof
assents and by which such Holder is bound.

   Pursuant to the terms of the Agreement, distributions will be made on the
10th day of each month or, if such 10th day is not a Business Day, the Business
Day immediately following (each, a "Distribution Date"), commencing on the first
Distribution Date specified above, to the Person in whose name this Certificate
is registered at the close of business on the last Business Day of the month
immediately preceding the month of such distribution (the "Record Date"), in an
amount equal to the product of the Percentage Interest evidenced by this
Certificate and the amount required to be distributed pursuant to the Agreement
on the applicable Distribution Date in respect of the Class of Certificates to
which this Certificate belongs. All distributions made under the Agreement in
respect of this Certificate will be made by the Trustee by wire transfer in
immediately available funds to the account of the Person entitled thereto at a
bank or other entity having appropriate facilities therefor, if such
Certificateholder shall have provided the Trustee with written wiring
instructions no less than five (5) Business Days prior to the Record Date for
such distribution (which wiring instructions may be in the form of a standing
order applicable to all subsequent distributions as well), or otherwise by check
mailed to the address of such Certificateholder appearing in the Certificate
Register. Notwithstanding the above, the final distribution in respect of this
Certificate (determined without regard to any possible future reimbursement of
any Realized Loss or Additional Trust Fund Expense previously allocated to this
Certificate) will be made after due notice by the Trustee of the pendency of
such distribution and only upon presentation and surrender of this Certificate
at the offices of the Certificate Registrar appointed as provided in the
Agreement or such other location as may be specified in such notice. Also
notwithstanding the foregoing, any distribution that may be made with respect to
this Certificate in reimbursement of any Realized Loss or Additional Trust Fund
Expense previously allocated to this Certificate, which reimbursement is to
occur after the date on which this Certificate is surrendered as contemplated by
the preceding sentence, will be made by check mailed to the address of the
Holder that surrenders this Certificate as such address last appeared in the
Certificate Register or to any such other address of which the Trustee is
subsequently notified in writing.

   Any distribution to the Holder of this Certificate in reduction of the
Certificate Principal Balance hereof is binding on such Holder and all future
Holders of this Certificate and any Certificate issued upon the transfer hereof
or in exchange herefor or in lieu hereof whether or not notation of such
distribution is made upon this Certificate.

   The Certificates are limited in right of distribution to certain collections
and recoveries respecting the Mortgage Loans, all as more specifically set forth
herein and in the Agreement. As provided in the Agreement, withdrawals from the
Certificate Account, the Distribution Account and, if established, the REO
Account may be made from time to time for purposes other than, and, in certain
cases, prior to, distributions to Certificateholders, such purposes including
the reimbursement of advances made, or certain expenses incurred, with respect
to the Mortgage Loans and the payment of interest on such advances and expenses.

   The Certificates are issuable in fully registered form only without coupons
in minimum denominations specified in the Agreement. As provided in the
Agreement and subject to certain limitations therein set forth, the Certificates
are exchangeable for new Certificates of the same Class in authorized
denominations evidencing the same aggregate Percentage Interest, as requested by
the Holder surrendering the same.

   As provided in the Agreement and subject to certain limitations therein set
forth, the transfer of this Certificate is registrable in the Certificate
Register upon surrender of this Certificate for registration of transfer at the
offices of the Certificate Registrar, duly endorsed by, or accompanied by a
written instrument of transfer in the form satisfactory to the Certificate
Registrar duly executed by, the Holder hereof or his attorney duly authorized in
writing, and thereupon one or more new Certificates of the same Class in
authorized denominations evidencing the same aggregate Percentage Interest will
be issued to the designated transferee or transferees.

   No service charge will be imposed for any registration of transfer or
exchange of Certificates, but the Trustee or the Certificate Registrar may
require payment of a sum sufficient to cover any tax or other governmental
charge that may be imposed in connection with any transfer or exchange of
Certificates.

   For so long as this Certificate is registered in the name of Cede & Co., or
in such other name as is requested by an authorized representative of DTC,
transfers of interests in this Certificate shall be made through the book entry
facilities of DTC.

   Prior to due presentment of this Certificate for registration of transfer,
the Depositor, the Master Servicer, the Special Servicer, the Trustee, the REMIC
Administrator, the Certificate Registrar and any agents of any of them may treat
the Person in whose name this Certificate is registered as the owner hereof for
all purposes, and none of the Depositor, the Master Servicer, the Special
Servicer, the Trustee, the REMIC Administrator, the Certificate Registrar or any
such agent shall be affected by notice to the contrary.

   The Trust Fund and the obligations created by the Agreement shall terminate
upon distribution (or provision for distribution) to the Certificateholders of
all amounts held by or on behalf of the Trustee and required to be distributed
to them pursuant to the Agreement following the earlier of (i) the purchase by
the Majority Certificateholder of the Controlling Class (other than the
Depositor or any Mortgage Loan Seller), the Master Servicer or the Special
Servicer (in that order of priority) of all Mortgage Loans and each REO Property
remaining in REMIC I at a price determined as provided in the Agreement, and
(ii) the final payment or other liquidation (or any Advance with respect
thereto) of the last Mortgage Loan or REO Property remaining in REMIC I. The
Agreement permits, but does not require, any such Majority Certificateholder,
the Master Servicer or the Special Servicer to purchase from the Trust Fund all
Mortgage Loans and any REO Properties remaining therein. The exercise of such
right will effect early retirement of the Certificates; however, such right to
purchase is subject to the aggregate Stated Principal Balance of the Mortgage
Pool at the time of purchase being less than 1% of the Initial Pool Balance
specified on the face hereof.

   The Agreement permits, with certain exceptions therein provided, the
amendment thereof, and the modification of the rights and obligations of the
Depositor, the Master Servicer, the Special Servicer and the Trustee and REMIC
Administrator thereunder and the rights of the Certificateholders thereunder, at
any time by the Depositor, the Master Servicer, the Special Servicer and the
Trustee and REMIC Administrator with the consent of the Holders of Certificates
entitled to at least 51% of the Voting Rights allocated to the affected Classes.
Any such consent by the Holder of this Certificate shall be conclusive and
binding on such Holder and upon all future Holders of this Certificate and of
any Certificate issued upon the transfer hereof or in exchange herefor or in
lieu hereof whether or not notation of such consent is made upon this
Certificate. The Agreement also permits the amendment thereof, in certain
circumstances, including any amendment necessary to maintain the status of REMIC
I or REMIC II as a REMIC, without the consent of the Holders of any of the
Certificates.

   Unless the certificate of authentication hereon has been executed by the
Certificate Registrar, by manual signature, this Certificate shall not be
entitled to any benefit under the Agreement or be valid for any purpose.

   The registered Holder hereof, by its acceptance hereof, agrees that it will
look solely to the Trust Fund (to the extent of its rights therein) for
distributions hereunder.

   This Certificate shall be construed in accordance with the internal laws of
the State of New York that are applicable to agreements negotiated, made and to
be performed in said State, and the obligations, rights and remedies of the
Holder hereof shall be determined in accordance with such laws.

<PAGE>

   IN WITNESS WHEREOF, the Trustee has caused this Certificate to be duly
executed.

                                       LaSalle Bank National Association,
                                       as Trustee

                                       By:____________________________________
                                          Authorized Signatory

                          CERTIFICATE OF AUTHENTICATION

   This is one of the Class M Certificates referred to in the within mentioned
Agreement.

Dated:

                                       LaSalle Bank National Association,
                                       as Certificate Registrar

                                       By:____________________________________
                                          Authorized Signatory

<PAGE>

                                   SCHEDULE A

                Certificate Balance of
                Definitive Certificates
            exchanged or transferred for, or
             issued in exchange for or upon     Remaining Principal
            transfer of, an interest in this    Amount of Book Entry    Notation
  Date           Book-Entry Certificate            Certificate           Made By
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------

<PAGE>

                                   ASSIGNMENT

   FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s)
unto ______________________________________________________ (please print or
typewrite name and address including postal zip code of assignee) the beneficial
ownership interest in the Trust Fund evidenced by the within Commercial Mortgage
Pass-Through Certificate and hereby authorize(s) the registration of transfer of
such interest to the above named assignee on the Certificate Register of the
Trust Fund.

I (we) further direct the issuance of a new Commercial Mortgage Pass-Through
Certificate of a like Percentage Interest and Class to the above named assignee
and delivery of such Commercial Mortgage Pass-Through Certificate to the
following address: _____________________________________________________________
________________________________________________________________________________

Dated:

                                          ______________________________________
                                           Signature by or on behalf of Assignor

                                          ______________________________________
                                                    Signature Guaranteed

                            DISTRIBUTION INSTRUCTIONS

   The assignee should include the following for purposes of distribution:

   Distributions shall, if permitted, be made by wire transfer or otherwise, in
immediately available funds, to  ______________________________________ for the
account of _________________________________________________.

   Distributions made by check (such check to be made payable to
____________________________________) and all applicable statements and notices
should be mailed to _______________________________________________.

   This information is provided by _______________________________________, the
assignee named above, or _________________________________________, as its
agent.

<PAGE>

                                  Exhibit A-21
                           Form of Class N Certificate

                           CLASS N COMMERCIAL MORTGAGE
                            PASS-THROUGH CERTIFICATE,
                                  SERIES 2006-2

                      [RULE 144A](1) [REG S](2) CERTIFICATE

This is one of a series of commercial mortgage pass-through certificates
(collectively, the "Certificates"), issued in multiple classes (each, a
"Class"), which series of Certificates evidences the entire beneficial ownership
interest in a trust fund (the "Trust Fund") consisting primarily of a pool (the
"Mortgage Pool") of multifamily and commercial mortgage loans (the "Mortgage
Loans"), such pool being formed and sold by:

                    BANC OF AMERICA COMMERCIAL MORTGAGE INC.

Pass-Through Rate:                       Certificate Principal Balance of this
5.4830%                                  Certificate as of the Issue Date:
                                         $[6,748,000]

Date of Pooling and Servicing Agreement: Class Principal Balance of all the
June 1, 2006                             Class N Certificates as of the Issue
                                         Date:
                                         $[6,748,000]

Cut-off Date:                            Initial Pool Balance: $[2,699,084,457]
June 1, 2006

Issue Date:
June 22, 2006

First Distribution Date:
July 10, 2006

Master Servicer:                         Trustee and REMIC Administrator:
Bank of America, N.A.                    LaSalle Bank National Association

Special Servicer:
LNR Partners, Inc.

Certificate No.: N-[__]                  CUSIP No.: [________](1)
                                         CUSIP No.: [________](2)

----------
(1) For Rule 144A Book-Entry Certificates only.

(2) For Reg S Book-Entry Certificates only.

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST CORPORATION, A NEW YORK CORPORATION ("DTC"), TO THE DEPOSITOR,
THE TRUSTEE, THE CERTIFICATE REGISTRAR OR ANY AGENT THEREOF FOR REGISTRATION OF
TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER
ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER,
PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
HEREIN.

THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN BANC OF
AMERICA COMMERCIAL MORTGAGE INC., BANK OF AMERICA, N.A., LNR PARTNERS, INC.,
LASALLE BANK NATIONAL ASSOCIATION OR ANY OF THEIR RESPECTIVE AFFILIATES. NEITHER
THIS CERTIFICATE NOR THE MORTGAGE LOANS ARE GUARANTEED BY ANY AGENCY OR
INSTRUMENTALITY OF THE UNITED STATES OR ANY OTHER PERSON.

THE CLASS OF CERTIFICATES TO WHICH THIS CERTIFICATE BELONGS IS SUBORDINATE TO
ONE OR MORE OTHER CLASSES OF CERTIFICATES OF THE SAME SERIES, AS AND TO THE
EXTENT PROVIDED IN THE AGREEMENT REFERRED TO HEREIN.

THIS CERTIFICATE HAS NOT BEEN REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT
OF 1933, AS AMENDED (THE "SECURITIES ACT"), OR THE SECURITIES LAWS OF ANY STATE.
ANY RESALE, TRANSFER OR OTHER DISPOSITION OF THIS CERTIFICATE WITHOUT SUCH
REGISTRATION OR QUALIFICATION MAY BE MADE ONLY IN A TRANSACTION WHICH DOES NOT
REQUIRE SUCH REGISTRATION OR QUALIFICATION AND IN ACCORDANCE WITH THE PROVISIONS
OF SECTION 5.02 OF THE AGREEMENT REFERRED TO HEREIN.

THE HOLDER OF THIS CERTIFICATE BY ITS ACCEPTANCE HEREOF AGREES NOT TO OFFER,
SELL OR OTHERWISE TRANSFER SUCH CERTIFICATE EXCEPT IN ACCORDANCE WITH ALL
APPLICABLE STATE SECURITIES LAWS AND (A) PURSUANT TO A REGISTRATION STATEMENT
WHICH HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT, (B) FOR SO LONG AS
THIS CERTIFICATE IS ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE
SECURITIES ACT ("RULE 144A"), TO A PERSON WHO THE SELLER REASONABLY BELIEVES IS
A "QUALIFIED INSTITUTIONAL BUYER" AS DEFINED IN RULE 144A IN A TRANSACTION
MEETING THE REQUIREMENTS OF RULE 144A, (C) IN AN OFFSHORE TRANSACTION COMPLYING
WITH RULE 903 OR 904 OF REGULATION S UNDER THE SECURITIES ACT, (D) TO AN
INSTITUTIONAL "ACCREDITED INVESTOR" WITHIN THE MEANING OF RULE 501 (A)(1), (2),
(3) OR (7) OF REGULATION D UNDER THE SECURITIES ACT IN A TRANSACTION EXEMPT FROM
THE REGISTRATION REQUIREMENTS UNDER THE SECURITIES ACT, OR (E) PURSUANT TO
ANOTHER AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES
ACT, SUBJECT IN EACH OF THE FOREGOING CASES TO THE COMPLETION AND DELIVERY BY
THE TRANSFEROR TO THE TRUSTEE OF AN INVESTMENT REPRESENTATION LETTER.

THIS CERTIFICATE MAY NOT BE PURCHASED OR TRANSFERRED UNLESS THE CERTIFICATE
REGISTRAR SHALL HAVE RECEIVED EITHER (A) AN INVESTMENT REPRESENTATION LETTER
FROM THE PROPOSED PURCHASER OR TRANSFEREE OF SUCH CERTIFICATE, IN FORM AND
SUBSTANCE SATISFACTORY TO THE CERTIFICATE REGISTRAR AND THE DEPOSITOR, TO THE
EFFECT THAT SUCH PROPOSED PURCHASER OR TRANSFEREE IS NOT (I) AN EMPLOYEE BENEFIT
PLAN SUBJECT TO THE FIDUCIARY RESPONSIBILITY PROVISIONS OF THE EMPLOYEE
RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED ("ERISA"), OR A PLAN SUBJECT
TO SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE "CODE"),
OR A GOVERNMENTAL PLAN (AS DEFINED IN SECTION 3(32) OF ERISA) SUBJECT TO ANY
FEDERAL, STATE OR LOCAL LAW ("SIMILAR LAW") WHICH IS, TO A MATERIAL EXTENT,
SIMILAR TO THE FOREGOING PROVISIONS OF ERISA OR THE CODE (EACH A "PLAN") OR (II)
A PERSON ACTING ON BEHALF OF OR USING THE ASSETS OF ANY SUCH PLAN (INCLUDING AN
ENTITY WHOSE UNDERLYING ASSETS INCLUDE PLAN ASSETS BY REASON OF INVESTMENT IN
THE ENTITY BY SUCH PLAN AND THE APPLICATION OF DEPARTMENT OF LABOR REGULATION
ss. 2510.3-101), OTHER THAN AN INSURANCE COMPANY USING THE ASSETS OF ITS GENERAL
ACCOUNT UNDER CIRCUMSTANCES WHEREBY THE PURCHASE AND HOLDING OF SUCH
CERTIFICATES BY SUCH INSURANCE COMPANY WOULD BE EXEMPT FROM THE PROHIBITED
TRANSACTION PROVISIONS OF ERISA AND THE CODE UNDER PROHIBITED TRANSACTION CLASS
EXEMPTION 95-60 OR (B) IF SUCH CERTIFICATE IS PRESENTED FOR REGISTRATION IN THE
NAME OF A PERSON DESCRIBED IN CLAUSES (I) OR (II) ABOVE, AN OPINION OF COUNSEL
IN FORM AND SUBSTANCE SATISFACTORY TO THE CERTIFICATE REGISTRAR AND THE
DEPOSITOR TO THE EFFECT THAT SUCH ACQUISITION AND HOLDING OF SUCH CERTIFICATE BY
SUCH PROPOSED PURCHASER OR TRANSFEREE WILL NOT CONSTITUTE OR RESULT IN A
NON-EXEMPT "PROHIBITED TRANSACTION" WITHIN THE MEANING OF ERISA, SECTION 4975 OF
THE CODE OR ANY SIMILAR LAW, AND WILL NOT SUBJECT THE TRUSTEE, THE CERTIFICATE
REGISTRAR, THE MASTER SERVICER, THE SPECIAL SERVICER, THE PLACEMENT AGENT OR THE
DEPOSITOR TO ANY OBLIGATION OR LIABILITY (INCLUDING OBLIGATIONS OR LIABILITIES
UNDER ERISA, SECTION 4975 OF THE CODE OR ANY SUCH SIMILAR LAW) IN ADDITION TO
THOSE SET FORTH IN THE AGREEMENT. THE TRANSFEREE OF A BENEFICIAL INTEREST IN A
CERTIFICATE THAT IS A BOOK ENTRY CERTIFICATE SHALL BE DEEMED TO REPRESENT THAT
IT IS NOT A PERSON DESCRIBED IN CLAUSES (I) OR (II) ABOVE.

FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE REPRESENTS A "REGULAR
INTEREST" IN A "REAL ESTATE MORTGAGE INVESTMENT CONDUIT" (A "REMIC") AS THOSE
TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE CODE.

THE OUTSTANDING CERTIFICATE PRINCIPAL BALANCE HEREOF AT ANY TIME MAY BE LESS
THAN THE AMOUNT SHOWN ABOVE.

   This certifies that Cede & Co. is the registered owner of the Percentage
Interest evidenced by this Certificate (obtained by dividing the principal
balance of this Certificate (its "Certificate Principal Balance") as of the
Issue Date by the aggregate principal balance of all the Certificates of the
same Class as this Certificate (their "Class Principal Balance") as of the Issue
Date) in that certain beneficial ownership interest in the Trust Fund evidenced
by all the Certificates of the same Class as this Certificate. The Trust Fund
was created and the Certificates were issued pursuant to a Pooling and Servicing
Agreement, dated as specified above (the "Agreement"), among Banc of America
Commercial Mortgage Inc., as Depositor, and the Master Servicer, the Special
Servicer, and the Trustee, the REMIC Administrator identified above. To the
extent not defined herein, the capitalized terms used herein have the respective
meanings assigned in the Agreement. This Certificate is issued under and is
subject to the terms, provisions and conditions of the Agreement, to which
Agreement the Holder of this Certificate by virtue of the acceptance hereof
assents and by which such Holder is bound.

   Pursuant to the terms of the Agreement, distributions will be made on the
10th day of each month or, if such 10th day is not a Business Day, the Business
Day immediately following (each, a "Distribution Date"), commencing on the first
Distribution Date specified above, to the Person in whose name this Certificate
is registered at the close of business on the last Business Day of the month
immediately preceding the month of such distribution (the "Record Date"), in an
amount equal to the product of the Percentage Interest evidenced by this
Certificate and the amount required to be distributed pursuant to the Agreement
on the applicable Distribution Date in respect of the Class of Certificates to
which this Certificate belongs. All distributions made under the Agreement in
respect of this Certificate will be made by the Trustee by wire transfer in
immediately available funds to the account of the Person entitled thereto at a
bank or other entity having appropriate facilities therefor, if such
Certificateholder shall have provided the Trustee with written wiring
instructions no less than five (5) Business Days prior to the Record Date for
such distribution (which wiring instructions may be in the form of a standing
order applicable to all subsequent distributions as well), or otherwise by check
mailed to the address of such Certificateholder appearing in the Certificate
Register. Notwithstanding the above, the final distribution in respect of this
Certificate (determined without regard to any possible future reimbursement of
any Realized Loss or Additional Trust Fund Expense previously allocated to this
Certificate) will be made after due notice by the Trustee of the pendency of
such distribution and only upon presentation and surrender of this Certificate
at the offices of the Certificate Registrar appointed as provided in the
Agreement or such other location as may be specified in such notice. Also
notwithstanding the foregoing, any distribution that may be made with respect to
this Certificate in reimbursement of any Realized Loss or Additional Trust Fund
Expense previously allocated to this Certificate, which reimbursement is to
occur after the date on which this Certificate is surrendered as contemplated by
the preceding sentence, will be made by check mailed to the address of the
Holder that surrenders this Certificate as such address last appeared in the
Certificate Register or to any such other address of which the Trustee is
subsequently notified in writing.

   Any distribution to the Holder of this Certificate in reduction of the
Certificate Principal Balance hereof is binding on such Holder and all future
Holders of this Certificate and any Certificate issued upon the transfer hereof
or in exchange herefor or in lieu hereof whether or not notation of such
distribution is made upon this Certificate.

   The Certificates are limited in right of distribution to certain collections
and recoveries respecting the Mortgage Loans, all as more specifically set forth
herein and in the Agreement. As provided in the Agreement, withdrawals from the
Certificate Account, the Distribution Account and, if established, the REO
Account may be made from time to time for purposes other than, and, in certain
cases, prior to, distributions to Certificateholders, such purposes including
the reimbursement of advances made, or certain expenses incurred, with respect
to the Mortgage Loans and the payment of interest on such advances and expenses.

   The Certificates are issuable in fully registered form only without coupons
in minimum denominations specified in the Agreement. As provided in the
Agreement and subject to certain limitations therein set forth, the Certificates
are exchangeable for new Certificates of the same Class in authorized
denominations evidencing the same aggregate Percentage Interest, as requested by
the Holder surrendering the same.

   As provided in the Agreement and subject to certain limitations therein set
forth, the transfer of this Certificate is registrable in the Certificate
Register upon surrender of this Certificate for registration of transfer at the
offices of the Certificate Registrar, duly endorsed by, or accompanied by a
written instrument of transfer in the form satisfactory to the Certificate
Registrar duly executed by, the Holder hereof or his attorney duly authorized in
writing, and thereupon one or more new Certificates of the same Class in
authorized denominations evidencing the same aggregate Percentage Interest will
be issued to the designated transferee or transferees.

   No service charge will be imposed for any registration of transfer or
exchange of Certificates, but the Trustee or the Certificate Registrar may
require payment of a sum sufficient to cover any tax or other governmental
charge that may be imposed in connection with any transfer or exchange of
Certificates.

   For so long as this Certificate is registered in the name of Cede & Co., or
in such other name as is requested by an authorized representative of DTC,
transfers of interests in this Certificate shall be made through the book entry
facilities of DTC.

   Prior to due presentment of this Certificate for registration of transfer,
the Depositor, the Master Servicer, the Special Servicer, and the Trustee, the
REMIC Administrator, the Certificate Registrar and any agents of any of them may
treat the Person in whose name this Certificate is registered as the owner
hereof for all purposes, and none of the Depositor, the Master Servicer, the
Special Servicer, the Trustee, the REMIC Administrator, the Certificate
Registrar or any such agent shall be affected by notice to the contrary.

   The Trust Fund and the obligations created by the Agreement shall terminate
upon distribution (or provision for distribution) to the Certificateholders of
all amounts held by or on behalf of the Trustee and required to be distributed
to them pursuant to the Agreement following the earlier of (i) the purchase by
the Majority Certificateholder of the Controlling Class (other than the
Depositor or any Mortgage Loan Seller), the Master Servicer or the Special
Servicer (in that order of priority) of all Mortgage Loans and each REO Property
remaining in REMIC I at a price determined as provided in the Agreement, and
(ii) the final payment or other liquidation (or any Advance with respect
thereto) of the last Mortgage Loan or REO Property remaining in REMIC I. The
Agreement permits, but does not require, any such Majority Certificateholder,
the Master Servicer or the Special Servicer to purchase from the Trust Fund all
Mortgage Loans and any REO Properties remaining therein. The exercise of such
right will effect early retirement of the Certificates; however, such right to
purchase is subject to the aggregate Stated Principal Balance of the Mortgage
Pool at the time of purchase being less than 1% of the Initial Pool Balance
specified on the face hereof.

   The Agreement permits, with certain exceptions therein provided, the
amendment thereof, and the modification of the rights and obligations of the
Depositor, the Master Servicer, the Special Servicer and the Trustee and REMIC
Administrator thereunder and the rights of the Certificateholders thereunder, at
any time by the Depositor, the Master Servicer, the Special Servicer and the
Trustee and REMIC Administrator with the consent of the Holders of Certificates
entitled to at least 51% of the Voting Rights allocated to the affected Classes.
Any such consent by the Holder of this Certificate shall be conclusive and
binding on such Holder and upon all future Holders of this Certificate and of
any Certificate issued upon the transfer hereof or in exchange herefor or in
lieu hereof whether or not notation of such consent is made upon this
Certificate. The Agreement also permits the amendment thereof, in certain
circumstances, including any amendment necessary to maintain the status of REMIC
I or REMIC II as a REMIC, without the consent of the Holders of any of the
Certificates.

   Unless the certificate of authentication hereon has been executed by the
Certificate Registrar, by manual signature, this Certificate shall not be
entitled to any benefit under the Agreement or be valid for any purpose.

   The registered Holder hereof, by its acceptance hereof, agrees that it will
look solely to the Trust Fund (to the extent of its rights therein) for
distributions hereunder.

   This Certificate shall be construed in accordance with the internal laws of
the State of New York that are applicable to agreements negotiated, made and to
be performed in said State, and the obligations, rights and remedies of the
Holder hereof shall be determined in accordance with such laws.

<PAGE>

   IN WITNESS WHEREOF, the Trustee has caused this Certificate to be duly
executed.

                                       LaSalle Bank National Association,
                                       as Trustee

                                       By:____________________________________
                                          Authorized Signatory

                          CERTIFICATE OF AUTHENTICATION

   This is one of the Class N Certificates referred to in the within mentioned
Agreement.

Dated:

                                       LaSalle Bank National Association,
                                       as Certificate Registrar

                                       By:____________________________________
                                          Authorized Signatory

<PAGE>

                                   SCHEDULE A

                Certificate Balance of
                Definitive Certificates
            exchanged or transferred for, or
             issued in exchange for or upon     Remaining Principal
            transfer of, an interest in this    Amount of Book Entry    Notation
  Date           Book-Entry Certificate            Certificate           Made By
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------

<PAGE>

                                   ASSIGNMENT

   FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s)
unto ______________________________________________________ (please print or
typewrite name and address including postal zip code of assignee) the beneficial
ownership interest in the Trust Fund evidenced by the within Commercial Mortgage
Pass-Through Certificate and hereby authorize(s) the registration of transfer of
such interest to the above named assignee on the Certificate Register of the
Trust Fund.

I (we) further direct the issuance of a new Commercial Mortgage Pass-Through
Certificate of a like Percentage Interest and Class to the above named assignee
and delivery of such Commercial Mortgage Pass-Through Certificate to the
following address: _____________________________________________________________
________________________________________________________________________________

Dated:

                                          ______________________________________
                                           Signature by or on behalf of Assignor

                                          ______________________________________
                                                    Signature Guaranteed

                            DISTRIBUTION INSTRUCTIONS

   The assignee should include the following for purposes of distribution:

   Distributions shall, if permitted, be made by wire transfer or otherwise, in
immediately available funds, to  ______________________________________ for the
account of _________________________________________________.

   Distributions made by check (such check to be made payable to
____________________________________) and all applicable statements and notices
should be mailed to _______________________________________________.

   This information is provided by _______________________________________, the
assignee named above, or _________________________________________, as its
agent.

<PAGE>

                                  Exhibit A-22
                           Form of Class O Certificate

                           CLASS O COMMERCIAL MORTGAGE
                            PASS-THROUGH CERTIFICATE,
                                  SERIES 2006-2

                      [RULE 144A](1) [REG S](2) CERTIFICATE

This is one of a series of commercial mortgage pass-through certificates
(collectively, the "Certificates"), issued in multiple classes (each, a
"Class"), which series of Certificates evidences the entire beneficial ownership
interest in a trust fund (the "Trust Fund") consisting primarily of a pool (the
"Mortgage Pool") of multifamily and commercial mortgage loans (the "Mortgage
Loans"), such pool being formed and sold by:

                    BANC OF AMERICA COMMERCIAL MORTGAGE INC.

Pass-Through Rate:                       Certificate Principal Balance of this
5.4830%                                  Certificate as of the Issue Date:
                                         $[6,748,000]

Date of Pooling and Servicing Agreement: Class Principal Balance of all the
June 1, 2006                             Class O Certificates as of the Issue
                                         Date:
                                         $[6,748,000]

Cut-off Date:                            Initial Pool Balance: $[2,699,084,457]
June 1, 2006

Issue Date:
June 22, 2006

First Distribution Date:
July 10, 2006

Master Servicer:                         Trustee and REMIC Administrator:
Bank of America, N.A.                    LaSalle Bank National Association

Special Servicer:
LNR Partners, Inc.

Certificate No.: O-[__]                  CUSIP No.: [________](1)
                                         CUSIP No.: [________](2)

----------
(1) For Rule 144A Book-Entry Certificates only.

(2) For Reg S Book-Entry Certificates only.

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST CORPORATION, A NEW YORK CORPORATION ("DTC"), TO THE DEPOSITOR,
THE TRUSTEE, THE CERTIFICATE REGISTRAR OR ANY AGENT THEREOF FOR REGISTRATION OF
TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER
ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER,
PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
HEREIN.

THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN BANC OF
AMERICA COMMERCIAL MORTGAGE INC., BANK OF AMERICA, N.A., LNR PARTNERS, INC.,
LASALLE BANK NATIONAL ASSOCIATION OR ANY OF THEIR RESPECTIVE AFFILIATES. NEITHER
THIS CERTIFICATE NOR THE MORTGAGE LOANS ARE GUARANTEED BY ANY AGENCY OR
INSTRUMENTALITY OF THE UNITED STATES OR ANY OTHER PERSON.

THE CLASS OF CERTIFICATES TO WHICH THIS CERTIFICATE BELONGS IS SUBORDINATE TO
ONE OR MORE OTHER CLASSES OF CERTIFICATES OF THE SAME SERIES, AS AND TO THE
EXTENT PROVIDED IN THE AGREEMENT REFERRED TO HEREIN.

THIS CERTIFICATE HAS NOT BEEN REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT
OF 1933, AS AMENDED (THE "SECURITIES ACT"), OR THE SECURITIES LAWS OF ANY STATE.
ANY RESALE, TRANSFER OR OTHER DISPOSITION OF THIS CERTIFICATE WITHOUT SUCH
REGISTRATION OR QUALIFICATION MAY BE MADE ONLY IN A TRANSACTION WHICH DOES NOT
REQUIRE SUCH REGISTRATION OR QUALIFICATION AND IN ACCORDANCE WITH THE PROVISIONS
OF SECTION 5.02 OF THE AGREEMENT REFERRED TO HEREIN.

THE HOLDER OF THIS CERTIFICATE BY ITS ACCEPTANCE HEREOF AGREES NOT TO OFFER,
SELL OR OTHERWISE TRANSFER SUCH CERTIFICATE EXCEPT IN ACCORDANCE WITH ALL
APPLICABLE STATE SECURITIES LAWS AND (A) PURSUANT TO A REGISTRATION STATEMENT
WHICH HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT, (B) FOR SO LONG AS
THIS CERTIFICATE IS ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE
SECURITIES ACT ("RULE 144A"), TO A PERSON WHO THE SELLER REASONABLY BELIEVES IS
A "QUALIFIED INSTITUTIONAL BUYER" AS DEFINED IN RULE 144A IN A TRANSACTION
MEETING THE REQUIREMENTS OF RULE 144A, (C) IN AN OFFSHORE TRANSACTION COMPLYING
WITH RULE 903 OR 904 OF REGULATION S UNDER THE SECURITIES ACT, (D) TO AN
INSTITUTIONAL "ACCREDITED INVESTOR" WITHIN THE MEANING OF RULE 501 (A)(1), (2),
(3) OR (7) OF REGULATION D UNDER THE SECURITIES ACT IN A TRANSACTION EXEMPT FROM
THE REGISTRATION REQUIREMENTS UNDER THE SECURITIES ACT, OR (E) PURSUANT TO
ANOTHER AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES
ACT, SUBJECT IN EACH OF THE FOREGOING CASES TO THE COMPLETION AND DELIVERY BY
THE TRANSFEROR TO THE TRUSTEE OF AN INVESTMENT REPRESENTATION LETTER.

THIS CERTIFICATE MAY NOT BE PURCHASED OR TRANSFERRED UNLESS THE CERTIFICATE
REGISTRAR SHALL HAVE RECEIVED EITHER (A) AN INVESTMENT REPRESENTATION LETTER
FROM THE PROPOSED PURCHASER OR TRANSFEREE OF SUCH CERTIFICATE, IN FORM AND
SUBSTANCE SATISFACTORY TO THE CERTIFICATE REGISTRAR AND THE DEPOSITOR, TO THE
EFFECT THAT SUCH PROPOSED PURCHASER OR TRANSFEREE IS NOT (I) AN EMPLOYEE BENEFIT
PLAN SUBJECT TO THE FIDUCIARY RESPONSIBILITY PROVISIONS OF THE EMPLOYEE
RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED ("ERISA"), OR A PLAN SUBJECT
TO SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE "CODE"),
OR A GOVERNMENTAL PLAN (AS DEFINED IN SECTION 3(32) OF ERISA) SUBJECT TO ANY
FEDERAL, STATE OR LOCAL LAW ("SIMILAR LAW") WHICH IS, TO A MATERIAL EXTENT,
SIMILAR TO THE FOREGOING PROVISIONS OF ERISA OR THE CODE (EACH A "PLAN") OR (II)
A PERSON ACTING ON BEHALF OF OR USING THE ASSETS OF ANY SUCH PLAN (INCLUDING AN
ENTITY WHOSE UNDERLYING ASSETS INCLUDE PLAN ASSETS BY REASON OF INVESTMENT IN
THE ENTITY BY SUCH PLAN AND THE APPLICATION OF DEPARTMENT OF LABOR REGULATION
ss. 2510.3-101), OTHER THAN AN INSURANCE COMPANY USING THE ASSETS OF ITS GENERAL
ACCOUNT UNDER CIRCUMSTANCES WHEREBY THE PURCHASE AND HOLDING OF SUCH
CERTIFICATES BY SUCH INSURANCE COMPANY WOULD BE EXEMPT FROM THE PROHIBITED
TRANSACTION PROVISIONS OF ERISA AND THE CODE UNDER PROHIBITED TRANSACTION CLASS
EXEMPTION 95-60 OR (B) IF SUCH CERTIFICATE IS PRESENTED FOR REGISTRATION IN THE
NAME OF A PERSON DESCRIBED IN CLAUSES (I) OR (II) ABOVE, AN OPINION OF COUNSEL
IN FORM AND SUBSTANCE SATISFACTORY TO THE CERTIFICATE REGISTRAR AND THE
DEPOSITOR TO THE EFFECT THAT SUCH ACQUISITION AND HOLDING OF SUCH CERTIFICATE BY
SUCH PROPOSED PURCHASER OR TRANSFEREE WILL NOT CONSTITUTE OR RESULT IN A
NON-EXEMPT "PROHIBITED TRANSACTION" WITHIN THE MEANING OF ERISA, SECTION 4975 OF
THE CODE OR ANY SIMILAR LAW, AND WILL NOT SUBJECT THE TRUSTEE, THE CERTIFICATE
REGISTRAR, THE MASTER SERVICER, THE SPECIAL SERVICER, THE PLACEMENT AGENT OR THE
DEPOSITOR TO ANY OBLIGATION OR LIABILITY (INCLUDING OBLIGATIONS OR LIABILITIES
UNDER ERISA, SECTION 4975 OF THE CODE OR ANY SUCH SIMILAR LAW) IN ADDITION TO
THOSE SET FORTH IN THE AGREEMENT. THE TRANSFEREE OF A BENEFICIAL INTEREST IN A
CERTIFICATE THAT IS A BOOK ENTRY CERTIFICATE SHALL BE DEEMED TO REPRESENT THAT
IT IS NOT A PERSON DESCRIBED IN CLAUSES (I) OR (II) ABOVE.

FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE REPRESENTS A "REGULAR
INTEREST" IN A "REAL ESTATE MORTGAGE INVESTMENT CONDUIT" (A "REMIC") AS THOSE
TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE CODE.

THE OUTSTANDING CERTIFICATE PRINCIPAL BALANCE HEREOF AT ANY TIME MAY BE LESS
THAN THE AMOUNT SHOWN ABOVE.

   This certifies that Cede & Co. is the registered owner of the Percentage
Interest evidenced by this Certificate (obtained by dividing the principal
balance of this Certificate (its "Certificate Principal Balance") as of the
Issue Date by the aggregate principal balance of all the Certificates of the
same Class as this Certificate (their "Class Principal Balance") as of the Issue
Date) in that certain beneficial ownership interest in the Trust Fund evidenced
by all the Certificates of the same Class as this Certificate. The Trust Fund
was created and the Certificates were issued pursuant to a Pooling and Servicing
Agreement, dated as specified above (the "Agreement"), among Banc of America
Commercial Mortgage Inc., as Depositor, and the Master Servicer, the Special
Servicer and the Trustee and REMIC Administrator identified above. To the extent
not defined herein, the capitalized terms used herein have the respective
meanings assigned in the Agreement. This Certificate is issued under and is
subject to the terms, provisions and conditions of the Agreement, to which
Agreement the Holder of this Certificate by virtue of the acceptance hereof
assents and by which such Holder is bound.

   Pursuant to the terms of the Agreement, distributions will be made on the
10th day of each month or, if such 10th day is not a Business Day, the Business
Day immediately following (each, a "Distribution Date"), commencing on the first
Distribution Date specified above, to the Person in whose name this Certificate
is registered at the close of business on the last Business Day of the month
immediately preceding the month of such distribution (the "Record Date"), in an
amount equal to the product of the Percentage Interest evidenced by this
Certificate and the amount required to be distributed pursuant to the Agreement
on the applicable Distribution Date in respect of the Class of Certificates to
which this Certificate belongs. All distributions made under the Agreement in
respect of this Certificate will be made by the Trustee by wire transfer in
immediately available funds to the account of the Person entitled thereto at a
bank or other entity having appropriate facilities therefor, if such
Certificateholder shall have provided the Trustee with written wiring
instructions no less than five (5) Business Days prior to the Record Date for
such distribution (which wiring instructions may be in the form of a standing
order applicable to all subsequent distributions as well), or otherwise by check
mailed to the address of such Certificateholder appearing in the Certificate
Register. Notwithstanding the above, the final distribution in respect of this
Certificate (determined without regard to any possible future reimbursement of
any Realized Loss or Additional Trust Fund Expense previously allocated to this
Certificate) will be made after due notice by the Trustee of the pendency of
such distribution and only upon presentation and surrender of this Certificate
at the offices of the Certificate Registrar appointed as provided in the
Agreement or such other location as may be specified in such notice. Also
notwithstanding the foregoing, any distribution that may be made with respect to
this Certificate in reimbursement of any Realized Loss or Additional Trust Fund
Expense previously allocated to this Certificate, which reimbursement is to
occur after the date on which this Certificate is surrendered as contemplated by
the preceding sentence, will be made by check mailed to the address of the
Holder that surrenders this Certificate as such address last appeared in the
Certificate Register or to any such other address of which the Trustee is
subsequently notified in writing.

   Any distribution to the Holder of this Certificate in reduction of the
Certificate Principal Balance hereof is binding on such Holder and all future
Holders of this Certificate and any Certificate issued upon the transfer hereof
or in exchange herefor or in lieu hereof whether or not notation of such
distribution is made upon this Certificate.

   The Certificates are limited in right of distribution to certain collections
and recoveries respecting the Mortgage Loans, all as more specifically set forth
herein and in the Agreement. As provided in the Agreement, withdrawals from the
Certificate Account, the Distribution Account and, if established, the REO
Account may be made from time to time for purposes other than, and, in certain
cases, prior to, distributions to Certificateholders, such purposes including
the reimbursement of advances made, or certain expenses incurred, with respect
to the Mortgage Loans and the payment of interest on such advances and expenses.

   The Certificates are issuable in fully registered form only without coupons
in minimum denominations specified in the Agreement. As provided in the
Agreement and subject to certain limitations therein set forth, the Certificates
are exchangeable for new Certificates of the same Class in authorized
denominations evidencing the same aggregate Percentage Interest, as requested by
the Holder surrendering the same.

   As provided in the Agreement and subject to certain limitations therein set
forth, the transfer of this Certificate is registrable in the Certificate
Register upon surrender of this Certificate for registration of transfer at the
offices of the Certificate Registrar, duly endorsed by, or accompanied by a
written instrument of transfer in the form satisfactory to the Certificate
Registrar duly executed by, the Holder hereof or his attorney duly authorized in
writing, and thereupon one or more new Certificates of the same Class in
authorized denominations evidencing the same aggregate Percentage Interest will
be issued to the designated transferee or transferees.

   No service charge will be imposed for any registration of transfer or
exchange of Certificates, but the Trustee or the Certificate Registrar may
require payment of a sum sufficient to cover any tax or other governmental
charge that may be imposed in connection with any transfer or exchange of
Certificates.

   For so long as this Certificate is registered in the name of Cede & Co., or
in such other name as is requested by an authorized representative of DTC,
transfers of interests in this Certificate shall be made through the book entry
facilities of DTC.

   Prior to due presentment of this Certificate for registration of transfer,
the Depositor, the Master Servicer, the Special Servicer, the Trustee, the REMIC
Administrator, the Certificate Registrar and any agents of any of them may treat
the Person in whose name this Certificate is registered as the owner hereof for
all purposes, and none of the Depositor, the Master Servicer, the Special
Servicer, the Trustee, the REMIC Administrator, the Certificate Registrar or any
such agent shall be affected by notice to the contrary.

   The Trust Fund and the obligations created by the Agreement shall terminate
upon distribution (or provision for distribution) to the Certificateholders of
all amounts held by or on behalf of the Trustee and required to be distributed
to them pursuant to the Agreement following the earlier of (i) the purchase by
the Majority Certificateholder of the Controlling Class (other than the
Depositor or any Mortgage Loan Seller), the Master Servicer or the Special
Servicer (in that order of priority) of all Mortgage Loans and each REO Property
remaining in REMIC I at a price determined as provided in the Agreement, and
(ii) the final payment or other liquidation (or any Advance with respect
thereto) of the last Mortgage Loan or REO Property remaining in REMIC I. The
Agreement permits, but does not require, any such Majority Certificateholder,
the Master Servicer or the Special Servicer to purchase from the Trust Fund all
Mortgage Loans and any REO Properties remaining therein. The exercise of such
right will effect early retirement of the Certificates; however, such right to
purchase is subject to the aggregate Stated Principal Balance of the Mortgage
Pool at the time of purchase being less than 1% of the Initial Pool Balance
specified on the face hereof.

   The Agreement permits, with certain exceptions therein provided, the
amendment thereof, and the modification of the rights and obligations of the
Depositor, the Master Servicer, the Special Servicer and the Trustee and REMIC
Administrator thereunder and the rights of the Certificateholders thereunder, at
any time by the Depositor, the Master Servicer, the Special Servicer and the
Trustee and REMIC Administrator with the consent of the Holders of Certificates
entitled to at least 51% of the Voting Rights allocated to the affected Classes.
Any such consent by the Holder of this Certificate shall be conclusive and
binding on such Holder and upon all future Holders of this Certificate and of
any Certificate issued upon the transfer hereof or in exchange herefor or in
lieu hereof whether or not notation of such consent is made upon this
Certificate. The Agreement also permits the amendment thereof, in certain
circumstances, including any amendment necessary to maintain the status of REMIC
I or REMIC II as a REMIC, without the consent of the Holders of any of the
Certificates.

   Unless the certificate of authentication hereon has been executed by the
Certificate Registrar, by manual signature, this Certificate shall not be
entitled to any benefit under the Agreement or be valid for any purpose.

   The registered Holder hereof, by its acceptance hereof, agrees that it will
look solely to the Trust Fund (to the extent of its rights therein) for
distributions hereunder.

   This Certificate shall be construed in accordance with the internal laws of
the State of New York that are applicable to agreements negotiated, made and to
be performed in said State, and the obligations, rights and remedies of the
Holder hereof shall be determined in accordance with such laws.

<PAGE>

   IN WITNESS WHEREOF, the Trustee has caused this Certificate to be duly
executed.

                                       LaSalle Bank National Association,
                                       as Trustee

                                       By:____________________________________
                                          Authorized Signatory

                          CERTIFICATE OF AUTHENTICATION

   This is one of the Class O Certificates referred to in the within mentioned
Agreement.

Dated:

                                       LaSalle Bank National Association,
                                       as Certificate Registrar

                                       By:____________________________________
                                          Authorized Signatory

<PAGE>

                                   SCHEDULE A

                Certificate Balance of
                Definitive Certificates
            exchanged or transferred for, or
             issued in exchange for or upon     Remaining Principal
            transfer of, an interest in this    Amount of Book Entry    Notation
  Date           Book-Entry Certificate            Certificate           Made By
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------

<PAGE>

                                   ASSIGNMENT

   FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s)
unto ______________________________________________________ (please print or
typewrite name and address including postal zip code of assignee) the beneficial
ownership interest in the Trust Fund evidenced by the within Commercial Mortgage
Pass-Through Certificate and hereby authorize(s) the registration of transfer of
such interest to the above named assignee on the Certificate Register of the
Trust Fund.

I (we) further direct the issuance of a new Commercial Mortgage Pass-Through
Certificate of a like Percentage Interest and Class to the above named assignee
and delivery of such Commercial Mortgage Pass-Through Certificate to the
following address: _____________________________________________________________
________________________________________________________________________________

Dated:

                                          ______________________________________
                                           Signature by or on behalf of Assignor

                                          ______________________________________
                                                    Signature Guaranteed

                            DISTRIBUTION INSTRUCTIONS

   The assignee should include the following for purposes of distribution:

   Distributions shall, if permitted, be made by wire transfer or otherwise, in
immediately available funds, to  ______________________________________ for the
account of _________________________________________________.

   Distributions made by check (such check to be made payable to
____________________________________) and all applicable statements and notices
should be mailed to _______________________________________________.

   This information is provided by _______________________________________, the
assignee named above, or _________________________________________, as its
agent.

<PAGE>

                                  Exhibit A-23
                           Form of Class P Certificate

                           CLASS P COMMERCIAL MORTGAGE
                            PASS-THROUGH CERTIFICATE,
                                  SERIES 2006-2

                      [RULE 144A](1) [REG S](2) CERTIFICATE

This is one of a series of commercial mortgage pass-through certificates
(collectively, the "Certificates"), issued in multiple classes (each, a
"Class"), which series of Certificates evidences the entire beneficial ownership
interest in a trust fund (the "Trust Fund") consisting primarily of a pool (the
"Mortgage Pool") of multifamily and commercial mortgage loans (the "Mortgage
Loans"), such pool being formed and sold by:

                    BANC OF AMERICA COMMERCIAL MORTGAGE INC.

Pass-Through Rate:                       Certificate Principal Balance of this
5.4830%                                  Certificate as of the Issue Date:
                                         $[37,112,457]

Date of Pooling and Servicing Agreement: Class Principal Balance of all the
June 1, 2006                             Class P Certificates as of the Issue
                                         Date:
                                         $[37,112,457]

Cut-off Date:                            Initial Pool Balance: $$[2,699,084,457]
June 1, 2006

Issue Date:
June 22, 2006

First Distribution Date:
July 10, 2006

Master Servicer:                         Trustee and REMIC Administrator:
Bank of America, N.A.                    LaSalle Bank National Association

Special Servicer:
LNR Partners, Inc.

Certificate No.: P-[__]                  CUSIP No.: [________](1)
                                         CUSIP No.: [________](2)

----------
(1) For Rule 144A Book-Entry Certificates only.

(2) For Reg S Book-Entry Certificates only.

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST CORPORATION, A NEW YORK CORPORATION ("DTC"), TO THE DEPOSITOR,
THE TRUSTEE, THE CERTIFICATE REGISTRAR OR ANY AGENT THEREOF FOR REGISTRATION OF
TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER
ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER,
PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
HEREIN.

THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN BANC OF
AMERICA COMMERCIAL MORTGAGE INC., BANK OF AMERICA, N.A., LNR PARTNERS, INC.,
LASALLE BANK NATIONAL ASSOCIATION OR ANY OF THEIR RESPECTIVE AFFILIATES. NEITHER
THIS CERTIFICATE NOR THE MORTGAGE LOANS ARE GUARANTEED BY ANY AGENCY OR
INSTRUMENTALITY OF THE UNITED STATES OR ANY OTHER PERSON.

THE CLASS OF CERTIFICATES TO WHICH THIS CERTIFICATE BELONGS IS SUBORDINATE TO
ONE OR MORE OTHER CLASSES OF CERTIFICATES OF THE SAME SERIES, AS AND TO THE
EXTENT PROVIDED IN THE AGREEMENT REFERRED TO HEREIN.

THIS CERTIFICATE HAS NOT BEEN REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT
OF 1933, AS AMENDED (THE "SECURITIES ACT"), OR THE SECURITIES LAWS OF ANY STATE.
ANY RESALE, TRANSFER OR OTHER DISPOSITION OF THIS CERTIFICATE WITHOUT SUCH
REGISTRATION OR QUALIFICATION MAY BE MADE ONLY IN A TRANSACTION WHICH DOES NOT
REQUIRE SUCH REGISTRATION OR QUALIFICATION AND IN ACCORDANCE WITH THE PROVISIONS
OF SECTION 5.02 OF THE AGREEMENT REFERRED TO HEREIN.

THE HOLDER OF THIS CERTIFICATE BY ITS ACCEPTANCE HEREOF AGREES NOT TO OFFER,
SELL OR OTHERWISE TRANSFER SUCH CERTIFICATE EXCEPT IN ACCORDANCE WITH ALL
APPLICABLE STATE SECURITIES LAWS AND (A) PURSUANT TO A REGISTRATION STATEMENT
WHICH HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT, (B) FOR SO LONG AS
THIS CERTIFICATE IS ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE
SECURITIES ACT ("RULE 144A"), TO A PERSON WHO THE SELLER REASONABLY BELIEVES IS
A "QUALIFIED INSTITUTIONAL BUYER" AS DEFINED IN RULE 144A IN A TRANSACTION
MEETING THE REQUIREMENTS OF RULE 144A, (C) IN AN OFFSHORE TRANSACTION COMPLYING
WITH RULE 903 OR 904 OF REGULATION S UNDER THE SECURITIES ACT, (D) TO AN
INSTITUTIONAL "ACCREDITED INVESTOR" WITHIN THE MEANING OF RULE 501 (A)(1), (2),
(3) OR (7) OF REGULATION D UNDER THE SECURITIES ACT IN A TRANSACTION EXEMPT FROM
THE REGISTRATION REQUIREMENTS UNDER THE SECURITIES ACT, OR (E) PURSUANT TO
ANOTHER AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES
ACT, SUBJECT IN EACH OF THE FOREGOING CASES TO THE COMPLETION AND DELIVERY BY
THE TRANSFEROR TO THE TRUSTEE OF AN INVESTMENT REPRESENTATION LETTER.

THIS CERTIFICATE MAY NOT BE PURCHASED OR TRANSFERRED UNLESS THE CERTIFICATE
REGISTRAR SHALL HAVE RECEIVED EITHER (A) AN INVESTMENT REPRESENTATION LETTER
FROM THE PROPOSED PURCHASER OR TRANSFEREE OF SUCH CERTIFICATE, IN FORM AND
SUBSTANCE SATISFACTORY TO THE CERTIFICATE REGISTRAR AND THE DEPOSITOR, TO THE
EFFECT THAT SUCH PROPOSED PURCHASER OR TRANSFEREE IS NOT (I) AN EMPLOYEE BENEFIT
PLAN SUBJECT TO THE FIDUCIARY RESPONSIBILITY PROVISIONS OF THE EMPLOYEE
RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED ("ERISA"), OR A PLAN SUBJECT
TO SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE "CODE"),
OR A GOVERNMENTAL PLAN (AS DEFINED IN SECTION 3(32) OF ERISA) SUBJECT TO ANY
FEDERAL, STATE OR LOCAL LAW ("SIMILAR LAW") WHICH IS, TO A MATERIAL EXTENT,
SIMILAR TO THE FOREGOING PROVISIONS OF ERISA OR THE CODE (EACH A "PLAN") OR (II)
A PERSON ACTING ON BEHALF OF OR USING THE ASSETS OF ANY SUCH PLAN (INCLUDING AN
ENTITY WHOSE UNDERLYING ASSETS INCLUDE PLAN ASSETS BY REASON OF INVESTMENT IN
THE ENTITY BY SUCH PLAN AND THE APPLICATION OF DEPARTMENT OF LABOR REGULATION
ss. 2510.3-101), OTHER THAN AN INSURANCE COMPANY USING THE ASSETS OF ITS GENERAL
ACCOUNT UNDER CIRCUMSTANCES WHEREBY THE PURCHASE AND HOLDING OF SUCH
CERTIFICATES BY SUCH INSURANCE COMPANY WOULD BE EXEMPT FROM THE PROHIBITED
TRANSACTION PROVISIONS OF ERISA AND THE CODE UNDER PROHIBITED TRANSACTION CLASS
EXEMPTION 95-60 OR (B) IF SUCH CERTIFICATE IS PRESENTED FOR REGISTRATION IN THE
NAME OF A PERSON DESCRIBED IN CLAUSES (I) OR (II) ABOVE, AN OPINION OF COUNSEL
IN FORM AND SUBSTANCE SATISFACTORY TO THE CERTIFICATE REGISTRAR AND THE
DEPOSITOR TO THE EFFECT THAT SUCH ACQUISITION AND HOLDING OF SUCH CERTIFICATE BY
SUCH PROPOSED PURCHASER OR TRANSFEREE WILL NOT CONSTITUTE OR RESULT IN A
NON-EXEMPT "PROHIBITED TRANSACTION" WITHIN THE MEANING OF ERISA, SECTION 4975 OF
THE CODE OR ANY SIMILAR LAW, AND WILL NOT SUBJECT THE TRUSTEE, THE CERTIFICATE
REGISTRAR, THE MASTER SERVICER, THE SPECIAL SERVICER, THE PLACEMENT AGENT OR THE
DEPOSITOR TO ANY OBLIGATION OR LIABILITY (INCLUDING OBLIGATIONS OR LIABILITIES
UNDER ERISA, SECTION 4975 OF THE CODE OR ANY SUCH SIMILAR LAW) IN ADDITION TO
THOSE SET FORTH IN THE AGREEMENT. THE TRANSFEREE OF A BENEFICIAL INTEREST IN A
CERTIFICATE THAT IS A BOOK ENTRY CERTIFICATE SHALL BE DEEMED TO REPRESENT THAT
IT IS NOT A PERSON DESCRIBED IN CLAUSES (I) OR (II) ABOVE.

FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE REPRESENTS A "REGULAR
INTEREST" IN A "REAL ESTATE MORTGAGE INVESTMENT CONDUIT" (A "REMIC") AS THOSE
TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE CODE.

THE OUTSTANDING CERTIFICATE PRINCIPAL BALANCE HEREOF AT ANY TIME MAY BE LESS
THAN THE AMOUNT SHOWN ABOVE.

   This certifies that Cede & Co. is the registered owner of the Percentage
Interest evidenced by this Certificate (obtained by dividing the principal
balance of this Certificate (its "Certificate Principal Balance") as of the
Issue Date by the aggregate principal balance of all the Certificates of the
same Class as this Certificate (their "Class Principal Balance") as of the Issue
Date) in that certain beneficial ownership interest in the Trust Fund evidenced
by all the Certificates of the same Class as this Certificate. The Trust Fund
was created and the Certificates were issued pursuant to a Pooling and Servicing
Agreement, dated as specified above (the "Agreement"), among Banc of America
Commercial Mortgage Inc., as Depositor, and the Master Servicer, the Special
Servicer and the Trustee and REMIC Administrator identified above. To the extent
not defined herein, the capitalized terms used herein have the respective
meanings assigned in the Agreement. This Certificate is issued under and is
subject to the terms, provisions and conditions of the Agreement, to which
Agreement the Holder of this Certificate by virtue of the acceptance hereof
assents and by which such Holder is bound.

   Pursuant to the terms of the Agreement, distributions will be made on the
10th day of each month or, if such 10th day is not a Business Day, the Business
Day immediately following (each, a "Distribution Date"), commencing on the first
Distribution Date specified above, to the Person in whose name this Certificate
is registered at the close of business on the last Business Day of the month
immediately preceding the month of such distribution (the "Record Date"), in an
amount equal to the product of the Percentage Interest evidenced by this
Certificate and the amount required to be distributed pursuant to the Agreement
on the applicable Distribution Date in respect of the Class of Certificates to
which this Certificate belongs. All distributions made under the Agreement in
respect of this Certificate will be made by the Trustee by wire transfer in
immediately available funds to the account of the Person entitled thereto at a
bank or other entity having appropriate facilities therefor, if such
Certificateholder shall have provided the Trustee with written wiring
instructions no less than five (5) Business Days prior to the Record Date for
such distribution (which wiring instructions may be in the form of a standing
order applicable to all subsequent distributions as well), or otherwise by check
mailed to the address of such Certificateholder appearing in the Certificate
Register. Notwithstanding the above, the final distribution in respect of this
Certificate (determined without regard to any possible future reimbursement of
any Realized Loss or Additional Trust Fund Expense previously allocated to this
Certificate) will be made after due notice by the Trustee of the pendency of
such distribution and only upon presentation and surrender of this Certificate
at the offices of the Certificate Registrar appointed as provided in the
Agreement or such other location as may be specified in such notice. Also
notwithstanding the foregoing, any distribution that may be made with respect to
this Certificate in reimbursement of any Realized Loss or Additional Trust Fund
Expense previously allocated to this Certificate, which reimbursement is to
occur after the date on which this Certificate is surrendered as contemplated by
the preceding sentence, will be made by check mailed to the address of the
Holder that surrenders this Certificate as such address last appeared in the
Certificate Register or to any such other address of which the Trustee is
subsequently notified in writing.

   Any distribution to the Holder of this Certificate in reduction of the
Certificate Principal Balance hereof is binding on such Holder and all future
Holders of this Certificate and any Certificate issued upon the transfer hereof
or in exchange herefor or in lieu hereof whether or not notation of such
distribution is made upon this Certificate.

   The Certificates are limited in right of distribution to certain collections
and recoveries respecting the Mortgage Loans, all as more specifically set forth
herein and in the Agreement. As provided in the Agreement, withdrawals from the
Certificate Account, the Distribution Account and, if established, the REO
Account may be made from time to time for purposes other than, and, in certain
cases, prior to, distributions to Certificateholders, such purposes including
the reimbursement of advances made, or certain expenses incurred, with respect
to the Mortgage Loans and the payment of interest on such advances and expenses.

   The Certificates are issuable in fully registered form only without coupons
in minimum denominations specified in the Agreement. As provided in the
Agreement and subject to certain limitations therein set forth, the Certificates
are exchangeable for new Certificates of the same Class in authorized
denominations evidencing the same aggregate Percentage Interest, as requested by
the Holder surrendering the same.

   As provided in the Agreement and subject to certain limitations therein set
forth, the transfer of this Certificate is registrable in the Certificate
Register upon surrender of this Certificate for registration of transfer at the
offices of the Certificate Registrar, duly endorsed by, or accompanied by a
written instrument of transfer in the form satisfactory to the Certificate
Registrar duly executed by, the Holder hereof or his attorney duly authorized in
writing, and thereupon one or more new Certificates of the same Class in
authorized denominations evidencing the same aggregate Percentage Interest will
be issued to the designated transferee or transferees.

   No service charge will be imposed for any registration of transfer or
exchange of Certificates, but the Trustee or the Certificate Registrar may
require payment of a sum sufficient to cover any tax or other governmental
charge that may be imposed in connection with any transfer or exchange of
Certificates.

   For so long as this Certificate is registered in the name of Cede & Co., or
in such other name as is requested by an authorized representative of DTC,
transfers of interests in this Certificate shall be made through the book entry
facilities of DTC.

   Prior to due presentment of this Certificate for registration of transfer,
the Depositor, the Master Servicer, the Special Servicer, the Trustee, the REMIC
Administrator, the Certificate Registrar and any agents of any of them may treat
the Person in whose name this Certificate is registered as the owner hereof for
all purposes, and none of the Depositor, the Master Servicer, the Special
Servicer, the Trustee, the REMIC Administrator, the Certificate Registrar or any
such agent shall be affected by notice to the contrary.

   The Trust Fund and the obligations created by the Agreement shall terminate
upon distribution (or provision for distribution) to the Certificateholders of
all amounts held by or on behalf of the Trustee and required to be distributed
to them pursuant to the Agreement following the earlier of (i) the purchase by
the Majority Certificateholder of the Controlling Class (other than the
Depositor or any Mortgage Loan Seller), the Master Servicer or the Special
Servicer (in that order of priority) of all Mortgage Loans and each REO Property
remaining in REMIC I at a price determined as provided in the Agreement, and
(ii) the final payment or other liquidation (or any Advance with respect
thereto) of the last Mortgage Loan or REO Property remaining in REMIC I. The
Agreement permits, but does not require, any such Majority Certificateholder,
the Master Servicer or the Special Servicer to purchase from the Trust Fund all
Mortgage Loans and any REO Properties remaining therein. The exercise of such
right will effect early retirement of the Certificates; however, such right to
purchase is subject to the aggregate Stated Principal Balance of the Mortgage
Pool at the time of purchase being less than 1% of the Initial Pool Balance
specified on the face hereof.

   The Agreement permits, with certain exceptions therein provided, the
amendment thereof, and the modification of the rights and obligations of the
Depositor, the Master Servicer, the Special Servicer and the Trustee and REMIC
Administrator thereunder and the rights of the Certificateholders thereunder, at
any time by the Depositor, the Master Servicer, the Special Servicer and the
Trustee and REMIC Administrator with the consent of the Holders of Certificates
entitled to at least 51% of the Voting Rights allocated to the affected Classes.
Any such consent by the Holder of this Certificate shall be conclusive and
binding on such Holder and upon all future Holders of this Certificate and of
any Certificate issued upon the transfer hereof or in exchange herefor or in
lieu hereof whether or not notation of such consent is made upon this
Certificate. The Agreement also permits the amendment thereof, in certain
circumstances, including any amendment necessary to maintain the status of REMIC
I or REMIC II as a REMIC, without the consent of the Holders of any of the
Certificates.

   Unless the certificate of authentication hereon has been executed by the
Certificate Registrar, by manual signature, this Certificate shall not be
entitled to any benefit under the Agreement or be valid for any purpose.

   The registered Holder hereof, by its acceptance hereof, agrees that it will
look solely to the Trust Fund (to the extent of its rights therein) for
distributions hereunder.

   This Certificate shall be construed in accordance with the internal laws of
the State of New York that are applicable to agreements negotiated, made and to
be performed in said State, and the obligations, rights and remedies of the
Holder hereof shall be determined in accordance with such laws.

<PAGE>

   IN WITNESS WHEREOF, the Trustee has caused this Certificate to be duly
executed.

                                       LaSalle Bank National Association,
                                       as Trustee

                                       By:____________________________________
                                          Authorized Signatory

                          CERTIFICATE OF AUTHENTICATION

   This is one of the Class P Certificates referred to in the within mentioned
Agreement.

Dated:

                                       LaSalle Bank National Association,
                                       as Certificate Registrar

                                       By:____________________________________
                                          Authorized Signatory

<PAGE>

                                   SCHEDULE A

                Certificate Balance of
                Definitive Certificates
            exchanged or transferred for, or
             issued in exchange for or upon     Remaining Principal
            transfer of, an interest in this    Amount of Book Entry    Notation
  Date           Book-Entry Certificate            Certificate           Made By
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------

<PAGE>

                                   ASSIGNMENT

   FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s)
unto ______________________________________________________ (please print or
typewrite name and address including postal zip code of assignee) the beneficial
ownership interest in the Trust Fund evidenced by the within Commercial Mortgage
Pass-Through Certificate and hereby authorize(s) the registration of transfer of
such interest to the above named assignee on the Certificate Register of the
Trust Fund.

I (we) further direct the issuance of a new Commercial Mortgage Pass-Through
Certificate of a like Percentage Interest and Class to the above named assignee
and delivery of such Commercial Mortgage Pass-Through Certificate to the
following address: _____________________________________________________________
________________________________________________________________________________

Dated:

                                          ______________________________________
                                           Signature by or on behalf of Assignor

                                          ______________________________________
                                                    Signature Guaranteed

                            DISTRIBUTION INSTRUCTIONS

   The assignee should include the following for purposes of distribution:

   Distributions shall, if permitted, be made by wire transfer or otherwise, in
immediately available funds, to  ______________________________________ for the
account of _________________________________________________.

   Distributions made by check (such check to be made payable to
____________________________________) and all applicable statements and notices
should be mailed to _______________________________________________.

   This information is provided by _______________________________________, the
assignee named above, or _________________________________________, as its
agent.

<PAGE>

                                  Exhibit A-24
                          Form of Class R-I Certificate

                          CLASS R-I COMMERCIAL MORTGAGE
                            PASS-THROUGH CERTIFICATE,
                                  SERIES 2006-2

This is one of a series of commercial mortgage pass-through certificates
(collectively, the "Certificates"), issued in multiple classes (each, a
"Class"), which series of Certificates evidences the entire beneficial ownership
interest in a trust fund (the "Trust Fund") consisting primarily of a pool (the
"Mortgage Pool") of multifamily and commercial mortgage loans (the "Mortgage
Loans"), such pool being formed and sold by:

                    BANC OF AMERICA COMMERCIAL MORTGAGE INC.

Date of Pooling and Servicing Agreement: Percentage Interest evidenced by this
June 1, 2006                             Certificate in the related Class:
                                         100%

Cut-off Date:                            Initial Pool Balance: $[2,699,084,457]
June 1, 2006

Issue Date:
June 22, 2006

First Distribution Date:
July 10, 2006

Master Servicer:                         Trustee and REMIC Administrator:
Bank of America, N.A.                    LaSalle Bank National Association

Special Servicer:
LNR Partners, Inc.

Certificate No.: R-I-[__]

THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN BANC OF
AMERICA COMMERCIAL MORTGAGE INC., BANK OF AMERICA, N.A., LNR PARTNERS, INC.,
LASALLE BANK NATIONAL ASSOCIATION OR ANY OF THEIR RESPECTIVE AFFILIATES. NEITHER
THIS CERTIFICATE NOR THE MORTGAGE LOANS ARE GUARANTEED BY ANY AGENCY OR
INSTRUMENTALITY OF THE UNITED STATES OR ANY OTHER PERSON.

THE CLASS OF CERTIFICATES TO WHICH THIS CERTIFICATE BELONGS, IS SUBORDINATE TO
ONE OR MORE OTHER CLASSES OF CERTIFICATES OF THE SAME SERIES, AS AND TO THE
EXTENT PROVIDED IN THE AGREEMENT REFERRED TO HEREIN.

THIS CERTIFICATE HAS NOT BEEN REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT
OF 1933, AS AMENDED (THE "SECURITIES ACT"), OR THE SECURITIES LAWS OF ANY STATE.
ANY RESALE, TRANSFER OR OTHER DISPOSITION OF THIS CERTIFICATE WITHOUT SUCH
REGISTRATION OR QUALIFICATION MAY BE MADE ONLY IN A TRANSACTION WHICH DOES NOT
REQUIRE SUCH REGISTRATION OR QUALIFICATION AND IN ACCORDANCE WITH THE PROVISIONS
OF SECTION 5.02 OF THE AGREEMENT REFERRED TO HEREIN.

THE HOLDER OF THIS CERTIFICATE BY ITS ACCEPTANCE HEREOF AGREES NOT TO OFFER,
SELL OR OTHERWISE TRANSFER SUCH CERTIFICATE EXCEPT IN ACCORDANCE WITH ALL
APPLICABLE STATE SECURITIES LAWS AND (A) PURSUANT TO A REGISTRATION STATEMENT
WHICH HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT, (B) FOR SO LONG AS
THIS CERTIFICATE IS ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE
SECURITIES ACT ("RULE 144A"), TO A PERSON WHO THE SELLER REASONABLY BELIEVES IS
A "QUALIFIED INSTITUTIONAL BUYER" AS DEFINED IN RULE 144A IN A TRANSACTION
MEETING THE REQUIREMENTS OF RULE 144A, (C) TO AN INSTITUTIONAL "ACCREDITED
INVESTOR" WITHIN THE MEANING OF RULE 501 (a)(1), (2), (3) OR (7) OF REGULATION D
UNDER THE SECURITIES ACT IN A TRANSACTION EXEMPT FROM THE REGISTRATION
REQUIREMENTS UNDER THE SECURITIES ACT, OR (D) PURSUANT TO ANOTHER AVAILABLE
EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT, SUBJECT IN
EACH OF THE FOREGOING CASES TO THE COMPLETION AND DELIVERY BY THE TRANSFEROR TO
THE TRUSTEE OF AN INVESTMENT REPRESENTATION LETTER.

THIS CERTIFICATE MAY NOT BE PURCHASED BY OR TRANSFERRED TO ANY PERSON WHICH IS
AN EMPLOYEE BENEFIT PLAN SUBJECT TO TITLE I OF THE EMPLOYEE RETIREMENT INCOME
SECURITY ACT OF 1974, AS AMENDED ("ERISA"), OR A PLAN SUBJECT TO SECTION 4975 OF
THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE "CODE"), OR ANY GOVERNMENTAL
PLAN, AS DEFINED IN SECTION 3(32) OF ERISA, SUBJECT TO ANY FEDERAL, STATE OR
LOCAL LAW WHICH IS, TO A MATERIAL EXTENT, SIMILAR TO THE FOREGOING PROVISIONS OF
ERISA OR THE CODE (EACH, A "PLAN"), OR ANY PERSON ACTING ON BEHALF OF OR
INVESTING THE ASSETS OF A PLAN.

FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE EVIDENCES THE "RESIDUAL
INTEREST" IN TWO "REAL ESTATE MORTGAGE INVESTMENT CONDUITS" (EACH, A "REMIC") AS
THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE CODE.
CONSEQUENTLY, THE TRANSFER OF THIS CERTIFICATE IS ALSO SUBJECT TO THE ADDITIONAL
TAX RELATED TRANSFER RESTRICTIONS AS SET FORTH IN SECTION 5.02 OF THE AGREEMENT.
EACH TRANSFEREE OF THIS CERTIFICATE, BY ACCEPTANCE HEREOF, IS DEEMED TO HAVE
ACCEPTED THIS CERTIFICATE SUBJECT TO CERTAIN RESTRICTIONS ON TRANSFERABILITY IF
ANY PERSON BECOMES THE REGISTERED HOLDER OF THIS CERTIFICATE IN VIOLATION OF
SUCH TRANSFER RESTRICTIONS, SUCH REGISTRATION SHALL BE DEEMED TO BE OF NO LEGAL
FORCE OR EFFECT WHATSOEVER AND SUCH PERSON SHALL NOT BE DEEMED TO BE A
CERTIFICATEHOLDER FOR ANY PURPOSE HEREUNDER OR UNDER THE AGREEMENT REFERRED TO
HEREIN, INCLUDING, BUT NOT LIMITED TO, THE RECEIPT OF DISTRIBUTIONS ON THIS
CERTIFICATE.

   This certifies that Bank of America, N.A. is the registered owner of the
Percentage Interest evidenced by this Certificate (as specified above) in that
certain beneficial ownership interest in the Trust Fund evidenced by all the
Certificates of the same Class as this Certificate. The Trust Fund was created
and the Certificates were issued pursuant to a Pooling and Servicing Agreement,
dated as specified above (the "Agreement"), among Banc of America Commercial
Mortgage Inc., as Depositor, and the Master Servicer, the Special Servicer and
the Trustee and REMIC Administrator identified above. To the extent not defined
herein, the capitalized terms used herein have the respective meanings assigned
in the Agreement. This Certificate is issued under and is subject to the terms,
provisions and conditions of the Agreement, to which Agreement the Holder of
this Certificate by virtue of the acceptance hereof assents and by which such
Holder is bound.

   Pursuant to the terms of the Agreement, distributions will be made on the
10th day of each month or, if such 10th day is not a Business Day, the Business
Day immediately following (each, a "Distribution Date"), commencing upon the
first Distribution Date specified above, to the Person in whose name this
Certificate is registered at the close of business on the last Business Day of
the month immediately preceding the month of such distribution (the "Record
Date"), in an amount equal to the product of the Percentage Interest evidenced
by this Certificate and the amount required to be distributed pursuant to the
Agreement on the applicable Distribution Date in respect of the Class of
Certificates to which this Certificate belongs. All distributions made under the
Agreement in respect of this Certificate will be made by the Trustee by wire
transfer in immediately available funds to the account of the Person entitled
thereto at a bank or other entity having appropriate facilities therefor, if
such Certificateholder shall have provided the Trustee with written wiring
instructions no less than five (5) Business Days prior to the Record Date for
such distribution (which wiring instructions may be in the form of a standing
order applicable to all subsequent distributions as well), or otherwise by check
mailed to the address of the Person entitled thereto, as such name and address
appear in the Certificate Register. Notwithstanding the above, the final
distribution in respect of this Certificate will be made after due notice by the
Trustee of the pendency of such distribution and only upon presentation and
surrender of this Certificate at the offices of the Certificate Registrar
appointed as provided in the Agreement or such other location as may be
specified in such notice.

   The Certificates are limited in right of distribution to certain collections
and recoveries respecting the Mortgage Loans, all as more specifically set forth
herein and in the Agreement. As provided in the Agreement, withdrawals from the
Certificate Account, Distribution Account and, if established, the REO Account
may be made from time to time for purposes other than, and, in certain cases,
prior to, distributions to Certificateholders, such purposes including the
reimbursement of advances made, or certain expenses incurred, with respect to
the Mortgage Loans and the payment of interest on such advances and expenses.

   The Certificates are issuable in fully registered form only without coupons
in minimum denominations specified in the Agreement. As provided in the
Agreement and subject to certain limitations therein set forth, the Certificates
are exchangeable for new Certificates of the same Class in authorized
denominations evidencing the same aggregate Percentage Interest, as requested by
the Holder surrendering the same.

   As provided in the Agreement and subject to certain limitations therein set
forth, the transfer of this Certificate is registrable in the Certificate
Register upon surrender of this Certificate for registration of transfer at the
offices of the Certificate Registrar, duly endorsed by, or accompanied by a
written instrument of transfer in the form satisfactory to the Certificate
Registrar duly executed by, the Holder hereof or his attorney duly authorized in
writing, and thereupon one or more new Certificates of the same Class in
authorized denominations evidencing the same aggregate Percentage Interest will
be issued to the designated transferee or transferees.

   Each Person who has or who acquires any Ownership Interest in this
Certificate shall be deemed by the acceptance or acquisition of such Ownership
Interest to have agreed to be bound by the provisions of Section 5.02(d) of the
Agreement and, if any purported Transferee shall become a Holder of this
Certificate in violation of the provisions of such Section 5.02(d), to have
irrevocably authorized the Trustee under clause (ii) of such Section 5.02(d) to
deliver payments to a Person other than such Person and to have irrevocably
authorized the Trustee under clause (ii) of such Section 5.02(d) to negotiate
the terms of any mandatory disposition and to execute all instruments of
transfer and to do all other things necessary in connection with any such
disposition. Each Person holding or acquiring any Ownership Interest in this
Certificate must be a Permitted Transferee and shall promptly notify the Master
Servicer and the Trustee and REMIC Administrator of any change or impending
change in its status as a Permitted Transferee. In connection with any proposed
transfer of any Ownership Interest in this Certificate, the Certificate
Registrar shall require delivery to it, and shall not register the transfer of
this Certificate until its receipt of, an affidavit and agreement substantially
in the form attached as Exhibit C-1 to the Agreement (a "Transfer Affidavit and
Agreement") from the proposed Transferee, in form and substance satisfactory to
the Certificate Registrar, representing and warranting, among other things, that
such Transferee is a Permitted Transferee, that it is not acquiring its
Ownership Interest in this Certificate as a nominee, trustee or agent for any
Person that is not a Permitted Transferee, that for so long as it retains its
Ownership Interest in this Certificate, it will endeavor to remain a Permitted
Transferee, and that it has reviewed the provisions of Section 5.02(d) of the
Agreement and agrees to be bound by them. Notwithstanding the delivery of a
Transfer Affidavit and Agreement by a proposed Transferee, if the Certificate
Registrar has actual knowledge that the proposed Transferee is not a Permitted
Transferee, the Certificate Registrar shall not register the Transfer of an
Ownership Interest in this Certificate to such proposed Transferee.

   Each Person holding or acquiring any Ownership Interest in this Certificate
shall agree (x) to require a Transfer Affidavit and Agreement from any other
Person to whom such Person attempts to transfer its Ownership Interest herein
and (y) not to transfer its Ownership Interest herein unless it provides to the
Certificate Registrar a certificate substantially in the form attached as
Exhibit C-2 to the Agreement stating that, among other things, it has no actual
knowledge that such other Person is not a Permitted Transferee.

   A "Permitted Transferee" is any Transferee that is not a Plan or a Person
acting on behalf of or using the assets of a Plan, a Disqualified Organization,
a Non-United States Person or any Person the income of which is attributable to
a foreign permanent establishment or fixed base, within the meaning of an
applicable income tax treaty, of such Person or any other United States Person.

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

   A "Non United States Person" is (a) any Person other than a United States
Person or (b) any Person the income of which is attributable to a foreign
permanent establishment or fixed base, within the meaning of an applicable
income tax treaty, of such Person or any other United States Person. A "United
States Person" is a citizen or resident of the United States, a corporation or
partnership (except to the extent provided in the applicable Treasury
regulations) created or organized in, or under the laws of, the United States
any State thereof or the District of Columbia, including an entity treated as a
corporation or partnership for federal income tax purposes, or an estate whose
income is subject to United States federal income tax regardless of its source,
or a trust if a court within the United States is able to exercise primary
supervision over the administration of the trust and one or more such U.S.
Persons have the authority to control all substantial decisions of the trust
(or, to the extent provided in applicable Treasury regulations, certain trusts
in existence on August 20, 1996 that are eligible to elect to be treated as U.S.
Persons).

   No service charge will be imposed for any registration of transfer or
exchange of Certificates, but the Trustee or the Certificate Registrar may
require payment of a sum sufficient to cover any tax or other governmental
charge that may be imposed in connection with any transfer or exchange of
Certificates.

   Prior to due presentment of this Certificate for registration of transfer,
the Depositor, the Master Servicer, the Special Servicer, the Trustee, the REMIC
Administrator, the Certificate Registrar and any agents of any of them may treat
the Person in whose name this Certificate is registered as the owner hereof for
all purposes, and none of the Depositor, the Master Servicer, the Special
Servicer, the Trustee, the REMIC Administrator, the Certificate Registrar or any
such agent shall be affected by notice to the contrary.

   The Trust Fund and the obligations created by the Agreement shall terminate
upon distribution (or provision for distribution) to the Certificateholders of
all amounts held by or on behalf of the Trustee and required to be distributed
to them pursuant to the Agreement following the earlier of (i) the purchase by
the Majority Certificateholder of the Controlling Class (other than the
Depositor or any Mortgage Loan Seller), the Master Servicer or the Special
Servicer (in that order of priority) of all Mortgage Loans and each REO Property
remaining in REMIC I at a price determined as provided in the Agreement, and
(ii) the final payment or other liquidation (or any Advance with respect
thereto) of the last Mortgage Loan or REO Property remaining in REMIC I. The
Agreement permits, but does not require, any such Majority Certificateholder,
the Master Servicer or the Special Servicer to purchase from the Trust Fund all
Mortgage Loans and any REO Properties remaining therein. The exercise of such
right will effect early retirement of the Certificates; however, such right to
purchase is subject to the aggregate Stated Principal Balance of the Mortgage
Pool at the time of purchase being less than 1% of the Initial Pool Balance
specified on the face hereof.

   The Agreement permits, with certain exceptions therein provided, the
amendment thereof, and the modification of the rights and obligations of the
Depositor, the Master Servicer, the Special Servicer and the Trustee and REMIC
Administrator thereunder and the rights of the Certificateholders thereunder, at
any time by the Depositor, the Master Servicer, the Special Servicer and the
Trustee and REMIC Administrator with the consent of the Holders of Certificates
entitled to at least 51% of the Voting Rights allocated to the affected Classes.
Any such consent by the Holder of this Certificate shall be conclusive and
binding on such Holder and upon all future Holders of this Certificate and of
any Certificate issued upon the transfer hereof or in exchange herefor or in
lieu hereof whether or not notation of such consent is made upon this
Certificate. The Agreement also permits the amendment thereof, in certain
circumstances, including any amendment necessary to maintain the status of REMIC
I or REMIC II as a REMIC, without the consent of the Holders of any of the
Certificates.

   Unless the certificate of authentication hereon has been executed by the
Certificate Registrar, by manual signature, this Certificate shall not be
entitled to any benefit under the Agreement or be valid for any purpose.

   The registered Holder hereof, by its acceptance hereof, agrees that it will
look solely to the Trust Fund (to the extent of its rights therein) for
distributions hereunder.

   This Certificate shall be construed in accordance with the internal laws of
the State of New York that are applicable to agreements negotiated, made and to
be performed in said State, and the obligations, rights and remedies of the
Holder hereof shall be determined in accordance with such laws.

<PAGE>

   IN WITNESS WHEREOF, the Trustee has caused this Certificate to be duly
executed.

                                       LaSalle Bank National Association,
                                       as Trustee

                                       By:____________________________________
                                          Authorized Signatory

                          CERTIFICATE OF AUTHENTICATION

   This is one of the Class R-I Certificates referred to in the within mentioned
Agreement.

Dated:

                                       LaSalle Bank National Association,
                                       as Certificate Registrar

                                       By:____________________________________
                                          Authorized Signatory

<PAGE>

                                   SCHEDULE A

                Certificate Balance of
                Definitive Certificates
            exchanged or transferred for, or
             issued in exchange for or upon     Remaining Principal
            transfer of, an interest in this    Amount of Book Entry    Notation
  Date           Book-Entry Certificate            Certificate           Made By
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------

<PAGE>

                                   ASSIGNMENT

   FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s)
unto ______________________________________________________ (please print or
typewrite name and address including postal zip code of assignee) the beneficial
ownership interest in the Trust Fund evidenced by the within Commercial Mortgage
Pass-Through Certificate and hereby authorize(s) the registration of transfer of
such interest to the above named assignee on the Certificate Register of the
Trust Fund.

I (we) further direct the issuance of a new Commercial Mortgage Pass-Through
Certificate of a like Percentage Interest and Class to the above named assignee
and delivery of such Commercial Mortgage Pass-Through Certificate to the
following address: _____________________________________________________________
________________________________________________________________________________

Dated:

                                          ______________________________________
                                           Signature by or on behalf of Assignor

                                          ______________________________________
                                                    Signature Guaranteed

                            DISTRIBUTION INSTRUCTIONS

   The assignee should include the following for purposes of distribution:

   Distributions shall, if permitted, be made by wire transfer or otherwise, in
immediately available funds, to  ______________________________________ for the
account of _________________________________________________.

   Distributions made by check (such check to be made payable to
____________________________________) and all applicable statements and notices
should be mailed to _______________________________________________.

   This information is provided by _______________________________________, the
assignee named above, or _________________________________________, as its
agent.

<PAGE>

                                  Exhibit A-25
                         Form of Class R-II Certificate

                         CLASS R-II COMMERCIAL MORTGAGE
                            PASS-THROUGH CERTIFICATE,
                                  SERIES 2006-2

   This is one of a series of commercial mortgage pass-through certificates
(collectively, the "Certificates"), issued in multiple classes (each, a
"Class"), which series of Certificates evidences the entire beneficial ownership
interest in a trust fund (the "Trust Fund") consisting primarily of a pool (the
"Mortgage Pool") of multifamily and commercial mortgage loans (the "Mortgage
Loans"), such pool being formed and sold by:

                    BANC OF AMERICA COMMERCIAL MORTGAGE INC.

Date of Pooling and Servicing Agreement: Percentage Interest evidenced by this
June 1, 2006                             Certificate in the related Class:
                                         100%

Cut-off Date:                            Initial Pool Balance: $$[2,699,084,457]
June 1, 2006

Issue Date:
June 22, 2006

First Distribution Date:
July 10, 2006

Master Servicer:                         Trustee and REMIC Administrator:
Bank of America, N.A.                    LaSalle Bank National Association

Special Servicer:
LNR Partners, Inc.

Certificate No.: R-II-[__]

THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN BANC OF
AMERICA COMMERCIAL MORTGAGE INC., BANK OF AMERICA, N.A., LNR PARTNERS, INC.,
LASALLE BANK NATIONAL ASSOCIATION OR ANY OF THEIR RESPECTIVE AFFILIATES. NEITHER
THIS CERTIFICATE NOR THE MORTGAGE LOANS ARE GUARANTEED BY ANY AGENCY OR
INSTRUMENTALITY OF THE UNITED STATES OR ANY OTHER PERSON.

THE CLASS OF CERTIFICATES TO WHICH THIS CERTIFICATE BELONGS, IS SUBORDINATE TO
ONE OR MORE OTHER CLASSES OF CERTIFICATES OF THE SAME SERIES, AS AND TO THE
EXTENT PROVIDED IN THE AGREEMENT REFERRED TO HEREIN.

THIS CERTIFICATE HAS NOT BEEN REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT
OF 1933, AS AMENDED (THE "SECURITIES ACT"), OR THE SECURITIES LAWS OF ANY STATE.
ANY RESALE, TRANSFER OR OTHER DISPOSITION OF THIS CERTIFICATE WITHOUT SUCH
REGISTRATION OR QUALIFICATION MAY BE MADE ONLY IN A TRANSACTION WHICH DOES NOT
REQUIRE SUCH REGISTRATION OR QUALIFICATION AND IN ACCORDANCE WITH THE PROVISIONS
OF SECTION 5.02 OF THE AGREEMENT REFERRED TO HEREIN.

THE HOLDER OF THIS CERTIFICATE BY ITS ACCEPTANCE HEREOF AGREES NOT TO OFFER,
SELL OR OTHERWISE TRANSFER SUCH CERTIFICATE EXCEPT IN ACCORDANCE WITH ALL
APPLICABLE STATE SECURITIES LAWS AND (A) PURSUANT TO A REGISTRATION STATEMENT
WHICH HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT, (B) FOR SO LONG AS
THIS CERTIFICATE IS ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE
SECURITIES ACT ("RULE 144A"), TO A PERSON WHO THE SELLER REASONABLY BELIEVES IS
A "QUALIFIED INSTITUTIONAL BUYER" AS DEFINED IN RULE 144A IN A TRANSACTION
MEETING THE REQUIREMENTS OF RULE 144A, (C) TO AN INSTITUTIONAL "ACCREDITED
INVESTOR" WITHIN THE MEANING OF RULE 501 (a)(1), (2), (3) OR (7) OF REGULATION D
UNDER THE SECURITIES ACT IN A TRANSACTION EXEMPT FROM THE REGISTRATION
REQUIREMENTS UNDER THE SECURITIES ACT, OR (D) PURSUANT TO ANOTHER AVAILABLE
EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT, SUBJECT IN
EACH OF THE FOREGOING CASES TO THE COMPLETION AND DELIVERY BY THE TRANSFEROR TO
THE TRUSTEE OF AN INVESTMENT REPRESENTATION LETTER.

THIS CERTIFICATE MAY NOT BE PURCHASED BY OR TRANSFERRED TO ANY PERSON WHICH IS
AN EMPLOYEE BENEFIT PLAN SUBJECT TO TITLE I OF THE EMPLOYEE RETIREMENT INCOME
SECURITY ACT OF 1974, AS AMENDED ("ERISA"), OR A PLAN SUBJECT TO SECTION 4975 OF
THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE "CODE"), OR ANY GOVERNMENTAL
PLAN, AS DEFINED IN SECTION 3(32) OF ERISA, SUBJECT TO ANY FEDERAL, STATE OR
LOCAL LAW WHICH IS, TO A MATERIAL EXTENT, SIMILAR TO THE FOREGOING PROVISIONS OF
ERISA OR THE CODE (EACH, A "PLAN"), OR ANY PERSON ACTING ON BEHALF OF OR
INVESTING THE ASSETS OF A PLAN.

FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE EVIDENCES THE "RESIDUAL
INTEREST" IN A "REAL ESTATE MORTGAGE INVESTMENT CONDUIT" (A "REMIC") AS THOSE
TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE CODE.
CONSEQUENTLY, THE TRANSFER OF THIS CERTIFICATE IS ALSO SUBJECT TO THE ADDITIONAL
TAX RELATED TRANSFER RESTRICTIONS AS SET FORTH IN SECTION 5.02 OF THE AGREEMENT.
EACH TRANSFEREE OF THIS CERTIFICATE, BY ACCEPTANCE HEREOF, IS DEEMED TO HAVE
ACCEPTED THIS CERTIFICATE SUBJECT TO CERTAIN RESTRICTIONS ON TRANSFERABILITY. IF
ANY PERSON BECOMES THE REGISTERED HOLDER OF THIS CERTIFICATE IN VIOLATION OF
SUCH TRANSFER RESTRICTIONS, SUCH REGISTRATION SHALL BE DEEMED TO BE OF NO LEGAL
FORCE OR EFFECT WHATSOEVER AND SUCH PERSON SHALL NOT BE DEEMED TO BE A
CERTIFICATEHOLDER FOR ANY PURPOSE HEREUNDER OR UNDER THE AGREEMENT REFERRED TO
HEREIN, INCLUDING, BUT NOT LIMITED TO, THE RECEIPT OF DISTRIBUTIONS ON THIS
CERTIFICATE.

   This certifies that Bank of America, N.A. is the registered owner of the
Percentage Interest evidenced by this Certificate (as specified above) in that
certain beneficial ownership interest in the Trust Fund evidenced by all the
Certificates of the same Class as this Certificate. The Trust Fund was created
and the Certificates were issued pursuant to a Pooling and Servicing Agreement,
dated as specified above (the "Agreement"), among Banc of America Commercial
Mortgage Inc., as Depositor, and the Master Servicer, the Special Servicer and
the Trustee and REMIC Administrator identified above. To the extent not defined
herein, the capitalized terms used herein have the respective meanings assigned
in the Agreement. This Certificate is issued under and is subject to the terms,
provisions and conditions of the Agreement, to which Agreement the Holder of
this Certificate by virtue of the acceptance hereof assents and by which such
Holder is bound.

   Pursuant to the terms of the Agreement, distributions will be made on the
10th day of each month or, if such 10th day is not a Business Day, the Business
Day immediately following (each, a "Distribution Date"), commencing upon the
first Distribution Date specified above, to the Person in whose name this
Certificate is registered at the close of business on the last Business Day of
the month immediately preceding the month of such distribution (the "Record
Date"), in an amount equal to the product of the Percentage Interest evidenced
by this Certificate and the amount required to be distributed pursuant to the
Agreement on the applicable Distribution Date in respect of the Class of
Certificates to which this Certificate belongs. All distributions made under the
Agreement in respect of this Certificate will be made by the Trustee by wire
transfer in immediately available funds to the account of the Person entitled
thereto at a bank or other entity having appropriate facilities therefor, if
such Certificateholder shall have provided the Trustee with written wiring
instructions no less than five (5) Business Days prior to the Record Date for
such distribution (which wiring instructions may be in the form of a standing
order applicable to all subsequent distributions as well), or otherwise by check
mailed to the address of the Person entitled thereto, as such name and address
appear in the Certificate Register. Notwithstanding the above, the final
distribution in respect of this Certificate will be made after due notice by the
Trustee of the pendency of such distribution and only upon presentation and
surrender of this Certificate at the offices of the Certificate Registrar
appointed as provided in the Agreement or such other location as may be
specified in such notice.

   The Certificates are limited in right of distribution to certain collections
and recoveries respecting the Mortgage Loans, all as more specifically set forth
herein and in the Agreement. As provided in the Agreement, withdrawals from the
Certificate Account, Distribution Account and, if established, the REO Account
may be made from time to time for purposes other than, and, in certain cases,
prior to, distributions to Certificateholders, such purposes including the
reimbursement of advances made, or certain expenses incurred, with respect to
the Mortgage Loans and the payment of interest on such advances and expenses.

   The Certificates are issuable in fully registered form only without coupons
in minimum denominations specified in the Agreement. As provided in the
Agreement and subject to certain limitations therein set forth, the Certificates
are exchangeable for new Certificates of the same Class in authorized
denominations evidencing the same aggregate Percentage Interest, as requested by
the Holder surrendering the same.

   As provided in the Agreement and subject to certain limitations therein set
forth, the transfer of this Certificate is registrable in the Certificate
Register upon surrender of this Certificate for registration of transfer at the
offices of the Certificate Registrar, duly endorsed by, or accompanied by a
written instrument of transfer in the form satisfactory to the Certificate
Registrar duly executed by, the Holder hereof or his attorney duly authorized in
writing, and thereupon one or more new Certificates of the same Class in
authorized denominations evidencing the same aggregate Percentage Interest will
be issued to the designated transferee or transferees.

   Each Person who has or who acquires any Ownership Interest in this
Certificate shall be deemed by the acceptance or acquisition of such Ownership
Interest to have agreed to be bound by the provisions of Section 5.02(d) of the
Agreement and, if any purported Transferee shall become a Holder of this
Certificate in violation of the provisions of such Section 5.02(d), to have
irrevocably authorized the Trustee under clause (ii) of such Section 5.02(d) to
deliver payments to a Person other than such Person and to have irrevocably
authorized the Trustee under clause (ii) of such Section 5.02(d) to negotiate
the terms of any mandatory disposition and to execute all instruments of
transfer and to do all other things necessary in connection with any such
disposition. Each Person holding or acquiring any Ownership Interest in this
Certificate must be a Permitted Transferee and shall promptly notify the Master
Servicer and the Trustee and REMIC Administrator of any change or impending
change in its status as a Permitted Transferee. In connection with any proposed
transfer of any Ownership Interest in this Certificate, the Certificate
Registrar shall require delivery to it, and shall not register the transfer of
this Certificate until its receipt of, an affidavit and agreement substantially
in the form attached as Exhibit C-1 to the Agreement (a "Transfer Affidavit and
Agreement") from the proposed Transferee, in form and substance satisfactory to
the Certificate Registrar, representing and warranting, among other things, that
such Transferee is a Permitted Transferee, that it is not acquiring its
Ownership Interest in this Certificate as a nominee, trustee or agent for any
Person that is not a Permitted Transferee, that for so long as it retains its
Ownership Interest in this Certificate, it will endeavor to remain a Permitted
Transferee, and that it has reviewed the provisions of Section 5.02(d) of the
Agreement and agrees to be bound by them. Notwithstanding the delivery of a
Transfer Affidavit and Agreement by a proposed Transferee, if the Certificate
Registrar has actual knowledge that the proposed Transferee is not a Permitted
Transferee, the Certificate Registrar shall not register the Transfer of an
Ownership Interest in this Certificate to such proposed Transferee.

   Each Person holding or acquiring any Ownership Interest in this Certificate
shall agree (x) to require a Transfer Affidavit and Agreement from any other
Person to whom such Person attempts to transfer its Ownership Interest herein
and (y) not to transfer its Ownership Interest herein unless it provides to the
Certificate Registrar a certificate substantially in the form attached as
Exhibit C-2 to the Agreement stating that, among other things, it has no actual
knowledge that such other Person is not a Permitted Transferee.

   A "Permitted Transferee" is any Transferee that is not a Plan or a Person
acting on behalf of or using the assets of a Plan, a Disqualified Organization,
a Non-United States Person or any Person the income of which is attributable to
a foreign permanent establishment or fixed base, within the meaning of an
applicable income tax treaty, of such Person or any other United States Person.

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

   A "Non United States Person" is (a) any Person other than a United States
Person or (b) any Person the income of which is attributable to a foreign
permanent establishment or fixed base, within the meaning of an applicable
income tax treaty, of such Person or any other United States Person. A "United
States Person" is a citizen or resident of the United States, a corporation or
partnership (except to the extent provided in the applicable Treasury
regulations) created or organized in, or under the laws of, the United States
any State thereof or the District of Columbia, including an entity treated as a
corporation or partnership for federal income tax purposes, or an estate whose
income is subject to United States federal income tax regardless of its source,
or a trust if a court within the United States is able to exercise primary
supervision over the administration of the trust and one or more such U.S.
Persons have the authority to control all substantial decisions of the trust
(or, to the extent provided in applicable Treasury regulations, certain trusts
in existence on August 20, 1996 that are eligible to elect to be treated as U.S.
Persons).

   No service charge will be imposed for any registration of transfer or
exchange of Certificates, but the Trustee or the Certificate Registrar may
require payment of a sum sufficient to cover any tax or other governmental
charge that may be imposed in connection with any transfer or exchange of
Certificates.

   Prior to due presentment of this Certificate for registration of transfer,
the Depositor, the Master Servicer, the Special Servicer, the Trustee, the REMIC
Administrator, the Certificate Registrar and any agents of any of them may treat
the Person in whose name this Certificate is registered as the owner hereof for
all purposes, and none of the Depositor, the Master Servicer, the Special
Servicer, the Trustee, the REMIC Administrator, the Certificate Registrar or any
such agent shall be affected by notice to the contrary.

   The Trust Fund and the obligations created by the Agreement shall terminate
upon distribution (or provision for distribution) to the Certificateholders of
all amounts held by or on behalf of the Trustee and required to be distributed
to them pursuant to the Agreement following the earlier of (i) the purchase by
the Majority Certificateholder of the Controlling Class (other than the
Depositor or any Mortgage Loan Seller), the Master Servicer or the Special
Servicer (in that order of priority) of all Mortgage Loans and each REO Property
remaining in REMIC I at a price determined as provided in the Agreement, and
(ii) the final payment or other liquidation (or any Advance with respect
thereto) of the last Mortgage Loan or REO Property remaining in REMIC I. The
Agreement permits, but does not require, any such Majority Certificateholder,
the Master Servicer or the Special Servicer to purchase from the Trust Fund all
Mortgage Loans and any REO Properties remaining therein. The exercise of such
right will effect early retirement of the Certificates; however, such right to
purchase is subject to the aggregate Stated Principal Balance of the Mortgage
Pool at the time of purchase being less than 1% of the Initial Pool Balance
specified on the face hereof.

   The Agreement permits, with certain exceptions therein provided, the
amendment thereof, and the modification of the rights and obligations of the
Depositor, the Master Servicer, the Special Servicer and the Trustee and REMIC
Administrator thereunder and the rights of the Certificateholders thereunder, at
any time by the Depositor, the Master Servicer, the Special Servicer and the
Trustee and REMIC Administrator with the consent of the Holders of Certificates
entitled to at least 51% of the Voting Rights allocated to the affected Classes.
Any such consent by the Holder of this Certificate shall be conclusive and
binding on such Holder and upon all future Holders of this Certificate and of
any Certificate issued upon the transfer hereof or in exchange herefor or in
lieu hereof whether or not notation of such consent is made upon this
Certificate. The Agreement also permits the amendment thereof, in certain
circumstances, including any amendment necessary to maintain the status of REMIC
I or REMIC II as a REMIC, without the consent of the Holders of any of the
Certificates.

   Unless the certificate of authentication hereon has been executed by the
Certificate Registrar, by manual signature, this Certificate shall not be
entitled to any benefit under the Agreement or be valid for any purpose.

   The registered Holder hereof, by its acceptance hereof, agrees that it will
look solely to the Trust Fund (to the extent of its rights therein) for
distributions hereunder.

   This Certificate shall be construed in accordance with the internal laws of
the State of New York that are applicable to agreements negotiated, made and to
be performed in said State, and the obligations, rights and remedies of the
Holder hereof shall be determined in accordance with such laws.

<PAGE>

   IN WITNESS WHEREOF, the Trustee has caused this Certificate to be duly
executed.

                                       LaSalle Bank National Association,
                                       as Trustee

                                       By:____________________________________
                                          Authorized Signatory

                          CERTIFICATE OF AUTHENTICATION

   This is one of the Class R-II Certificates referred to in the within
mentioned Agreement.

Dated:

                                       LaSalle Bank National Association,
                                       as Certificate Registrar

                                       By:____________________________________
                                          Authorized Signatory

<PAGE>

                                   SCHEDULE A

                Certificate Balance of
                Definitive Certificates
            exchanged or transferred for, or
             issued in exchange for or upon     Remaining Principal
            transfer of, an interest in this    Amount of Book Entry    Notation
  Date           Book-Entry Certificate            Certificate           Made By
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------

<PAGE>

                                   ASSIGNMENT

   FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s)
unto ______________________________________________________ (please print or
typewrite name and address including postal zip code of assignee) the beneficial
ownership interest in the Trust Fund evidenced by the within Commercial Mortgage
Pass-Through Certificate and hereby authorize(s) the registration of transfer of
such interest to the above named assignee on the Certificate Register of the
Trust Fund.

I (we) further direct the issuance of a new Commercial Mortgage Pass-Through
Certificate of a like Percentage Interest and Class to the above named assignee
and delivery of such Commercial Mortgage Pass-Through Certificate to the
following address: _____________________________________________________________
________________________________________________________________________________

Dated:

                                          ______________________________________
                                           Signature by or on behalf of Assignor

                                          ______________________________________
                                                    Signature Guaranteed

                            DISTRIBUTION INSTRUCTIONS

   The assignee should include the following for purposes of distribution:

   Distributions shall, if permitted, be made by wire transfer or otherwise, in
immediately available funds, to  ______________________________________ for the
account of _________________________________________________.

   Distributions made by check (such check to be made payable to
____________________________________) and all applicable statements and notices
should be mailed to _______________________________________________.

   This information is provided by _______________________________________, the
assignee named above, or _________________________________________, as its
agent.

<PAGE>

                                  Exhibit A-26
                           Form of Class V Certificate

                           CLASS V COMMERCIAL MORTGAGE
                            PASS-THROUGH CERTIFICATE,
                                  SERIES 2006-2

This is one of a series of commercial mortgage pass-through certificates
(collectively, the "Certificates"), issued in multiple classes (each, a
"Class"), which series of Certificates evidences the entire beneficial ownership
interest in a trust fund (the "Trust Fund") consisting primarily of a pool (the
"Mortgage Pool") of multifamily and commercial mortgage loans (the "Mortgage
Loans"), such pool being formed and sold by:

                    BANC OF AMERICA COMMERCIAL MORTGAGE INC.

Date of Pooling and Servicing Agreement: Percentage Interest evidenced by this
June 1, 2006                             Certificate in the related Class:
                                         [100]%

Cut-off Date:                            Initial Pool Balance: $$[2,699,084,457]
June 1, 2006

Issue Date:
June 22, 2006

First Distribution Date:
July 10, 2006

Master Servicer:                         Trustee and REMIC Administrator:
Bank of America, N.A.                    LaSalle Bank National Association

Special Servicer:
LNR Partners, Inc.

Certificate No.: V-[__]

<PAGE>

THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN BANC OF
AMERICA COMMERCIAL MORTGAGE INC., BANK OF AMERICA, N.A., LNR PARTNERS, INC.,
LASALLE BANK NATIONAL ASSOCIATION OR ANY OF THEIR RESPECTIVE AFFILIATES. NEITHER
THIS CERTIFICATE NOR THE MORTGAGE LOANS ARE GUARANTEED BY ANY AGENCY OR
INSTRUMENTALITY OF THE UNITED STATES OR ANY OTHER PERSON.

THE CLASS OF CERTIFICATES TO WHICH THIS CERTIFICATE BELONGS IS SUBORDINATE TO
ONE OR MORE OTHER CLASSES OF CERTIFICATES OF THE SAME SERIES, AS AND TO THE
EXTENT PROVIDED IN THE AGREEMENT REFERRED TO HEREIN.

THIS CERTIFICATE HAS NOT BEEN REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT
OF 1933, AS AMENDED (THE "SECURITIES ACT"), OR THE SECURITIES LAWS OF ANY STATE.
ANY RESALE, TRANSFER OR OTHER DISPOSITION OF THIS CERTIFICATE WITHOUT SUCH
REGISTRATION OR QUALIFICATION MAY BE MADE ONLY IN A TRANSACTION WHICH DOES NOT
REQUIRE SUCH REGISTRATION OR QUALIFICATION AND IN ACCORDANCE WITH THE PROVISIONS
OF SECTION 5.02 OF THE AGREEMENT REFERRED TO HEREIN.

THE HOLDER OF THIS CERTIFICATE BY ITS ACCEPTANCE HEREOF AGREES NOT TO OFFER,
SELL OR OTHERWISE TRANSFER SUCH CERTIFICATE EXCEPT IN ACCORDANCE WITH ALL
APPLICABLE STATE SECURITIES LAWS AND (A) PURSUANT TO A REGISTRATION STATEMENT
WHICH HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT, (B) FOR SO LONG AS
THIS CERTIFICATE IS ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE
SECURITIES ACT ("RULE 144A"), TO A PERSON WHO THE SELLER REASONABLY BELIEVES IS
A "QUALIFIED INSTITUTIONAL BUYER" AS DEFINED IN RULE 144A IN A TRANSACTION
MEETING THE REQUIREMENTS OF RULE 144A, (C) TO AN INSTITUTIONAL "ACCREDITED
INVESTOR" WITHIN THE MEANING OF RULE 501 (A)(1), (2), (3) OR (7) OF REGULATION D
UNDER THE SECURITIES ACT IN A TRANSACTION EXEMPT FROM THE REGISTRATION
REQUIREMENTS UNDER THE SECURITIES ACT, OR (D) PURSUANT TO ANOTHER AVAILABLE
EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT, SUBJECT IN
EACH OF THE FOREGOING CASES TO THE COMPLETION AND DELIVERY BY THE TRANSFEROR TO
THE TRUSTEE OF AN INVESTMENT REPRESENTATION LETTER.

THIS CERTIFICATE MAY NOT BE PURCHASED OR TRANSFERRED UNLESS THE CERTIFICATE
REGISTRAR SHALL HAVE RECEIVED AN INVESTMENT REPRESENTATION LETTER FROM THE
PROPOSED PURCHASER OR TRANSFEREE OF SUCH CERTIFICATE, IN FORM AND SUBSTANCE
SATISFACTORY TO THE CERTIFICATE REGISTRAR AND THE DEPOSITOR, TO THE EFFECT THAT
SUCH PROPOSED PURCHASER OR TRANSFEREE IS NOT (I) AN EMPLOYEE BENEFIT PLAN
SUBJECT TO THE FIDUCIARY RESPONSIBILITY PROVISIONS OF THE EMPLOYEE RETIREMENT
INCOME SECURITY ACT OF 1974, AS AMENDED ("ERISA"), OR A PLAN SUBJECT TO SECTION
4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE "CODE"), OR A
GOVERNMENTAL PLAN (AS DEFINED IN SECTION 3(32) OF ERISA) SUBJECT TO ANY FEDERAL,
STATE OR LOCAL LAW ("SIMILAR LAW") WHICH IS, TO A MATERIAL EXTENT, SIMILAR TO
THE FOREGOING PROVISIONS OF ERISA OR THE CODE (EACH A "PLAN") OR (II) A PERSON
ACTING ON BEHALF OF OR USING THE ASSETS OF ANY SUCH PLAN (INCLUDING AN ENTITY
WHOSE UNDERLYING ASSETS INCLUDE PLAN ASSETS BY REASON OF INVESTMENT IN THE
ENTITY BY SUCH PLAN AND THE APPLICATION OF DEPARTMENT OF LABOR REGULATION ss.
2510.3-101).

THIS CERTIFICATE DOES NOT HAVE A CERTIFICATE PRINCIPAL BALANCE AND DOES NOT
ENTITLE THE HOLDER HEREOF TO ANY DISTRIBUTIONS OF PRINCIPAL. THE HOLDER HEREOF
WILL BE ENTITLED TO DISTRIBUTIONS OF EXCESS INTEREST RECEIVED ON THE MORTGAGE
POOL AS PROVIDED IN THE AGREEMENT.

   This certifies that Citigroup Global Markets is the registered owner of the
Percentage Interest evidenced by this Certificate (as specified above) in that
certain beneficial ownership interest in the Trust Fund evidenced by all the
Certificates of the same Class as this Certificate. The Trust Fund was created
and the Certificates were issued pursuant to a Pooling and Servicing Agreement,
dated as specified above (the "Agreement"), among Banc of America Commercial
Mortgage Inc., as Depositor, and the Master Servicer, the Special Servicer and
the Trustee and REMIC Administrator identified above. To the extent not defined
herein, the capitalized terms used herein have the respective meanings assigned
in the Agreement. This Certificate is issued under and is subject to the terms,
provisions and conditions of the Agreement, to which Agreement the Holder of
this Certificate by virtue of the acceptance hereof assents and by which such
Holder is bound.

   Pursuant to the terms of the Agreement, distributions will be made on the
10th day of each month or, if such 10th day is not a Business Day, the Business
Day immediately following (each, a "Distribution Date"), commencing on the first
Distribution Date specified above, to the Person in whose name this Certificate
is registered at the close of business on the last Business Day of the month
immediately preceding the month of such distribution (the "Record Date"), in an
amount equal to the product of the Percentage Interest evidenced by this
Certificate and the amount required to be distributed pursuant to the Agreement
on the applicable Distribution Date in respect of the Class of Certificates to
which this Certificate belongs. All distributions made under the Agreement in
respect of this Certificate will be made by the Trustee by wire transfer in
immediately available funds to the account of the Person entitled thereto at a
bank or other entity having appropriate facilities therefor, if such
Certificateholder shall have provided the Trustee with written wiring
instructions no less than five (5) Business Days prior to the Record Date for
such distribution (which wiring instructions may be in the form of a standing
order applicable to all subsequent distributions as well), or otherwise by check
mailed to the address of such Certificateholder appearing in the Certificate
Register. Notwithstanding the above, the final distribution in respect of this
Certificate will be made after due notice by the Trustee of the pendency of such
distribution and only upon presentation and surrender of this Certificate at the
offices of the Certificate Registrar appointed as provided in the Agreement or
such other location as may be specified in such notice.

   The Certificates are limited in right of distribution to certain collections
and recoveries respecting the Mortgage Loans, all as more specifically set forth
herein and in the Agreement. As provided in the Agreement, withdrawals from the
Certificate Account, the Distribution Account and, if established, the REO
Account may be made from time to time for purposes other than, and, in certain
cases, prior to, distributions to Certificateholders, such purposes including
the reimbursement of advances made, or certain expenses incurred, with respect
to the Mortgage Loans and the payment of interest on such advances and expenses.

   The Certificates are issuable in fully registered form only without coupons
in minimum denominations specified in the Agreement. As provided in the
Agreement and subject to certain limitations therein set forth, the Certificates
are exchangeable for new Certificates of the same Class in authorized
denominations evidencing the same aggregate Percentage Interest, as requested by
the Holder surrendering the same.

   As provided in the Agreement and subject to certain limitations therein set
forth, the transfer of this Certificate is registrable in the Certificate
Register upon surrender of this Certificate for registration of transfer at the
offices of the Certificate Registrar, duly endorsed by, or accompanied by a
written instrument of transfer in the form satisfactory to the Certificate
Registrar duly executed by, the Holder hereof or his attorney duly authorized in
writing, and thereupon one or more new Certificates of the same Class in
authorized denominations evidencing the same aggregate Percentage Interest will
be issued to the designated transferee or transferees.

   No service charge will be imposed for any registration of transfer or
exchange of Certificates, but the Trustee or the Certificate Registrar may
require payment of a sum sufficient to cover any tax or other governmental
charge that may be imposed in connection with any transfer or exchange of
Certificates.

   Prior to due presentment of this Certificate for registration of transfer,
the Depositor, the Master Servicer, the Special Servicer, the Trustee, the REMIC
Administrator, the Certificate Registrar and any agents of any of them may treat
the Person in whose name this Certificate is registered as the owner hereof for
all purposes, and none of the Depositor, the Master Servicer, the Special
Servicer, the Trustee, the REMIC Administrator, the Certificate Registrar or any
such agent shall be affected by notice to the contrary.

   The Trust Fund and the obligations created by the Agreement shall terminate
upon distribution (or provision for distribution) to the Certificateholders of
all amounts held by or on behalf of the Trustee and required to be distributed
to them pursuant to the Agreement following the earlier of (i) the purchase by
the Majority Certificateholder of the Controlling Class (other than the
Depositor or any Mortgage Loan Seller), the Master Servicer or the Special
Servicer (in that order of priority) of all Mortgage Loans and each REO Property
remaining in REMIC I at a price determined as provided in the Agreement, and
(ii) the final payment or other liquidation (or any Advance with respect
thereto) of the last Mortgage Loan or REO Property remaining in REMIC I. The
Agreement permits, but does not require, any such Majority Certificateholder,
the Master Servicer or the Special Servicer to purchase from the Trust Fund all
Mortgage Loans and any REO Properties remaining therein. The exercise of such
right will effect early retirement of the Certificates; however, such right to
purchase is subject to the aggregate Stated Principal Balance of the Mortgage
Pool at the time of purchase being less than 1% of the Initial Pool Balance
specified on the face hereof.

   The Agreement permits, with certain exceptions therein provided, the
amendment thereof, and the modification of the rights and obligations of the
Depositor, the Master Servicer, the Special Servicer, the Trustee and the REMIC
Administrator thereunder and the rights of the Certificateholders thereunder, at
any time by the Depositor, the Master Servicer, the Special Servicer, the
Trustee and the REMIC Administrator with the consent of the Holders of
Certificates entitled to at least 51% of the Voting Rights allocated to the
affected Classes. Any such consent by the Holder of this Certificate shall be
conclusive and binding on such Holder and upon all future Holders of this
Certificate and of any Certificate issued upon the transfer hereof or in
exchange herefor or in lieu hereof whether or not notation of such consent is
made upon this Certificate. The Agreement also permits the amendment thereof, in
certain circumstances, including any amendment necessary to maintain the status
of REMIC I or REMIC II as a REMIC, without the consent of the Holders of any of
the Certificates.

   Unless the certificate of authentication hereon has been executed by the
Certificate Registrar, by manual signature, this Certificate shall not be
entitled to any benefit under the Agreement or be valid for any purpose.

   The registered Holder hereof, by its acceptance hereof, agrees that it will
look solely to the Trust Fund (to the extent of its rights therein) for
distributions hereunder.

   This Certificate shall be construed in accordance with the internal laws of
the State of New York that are applicable to agreements negotiated, made and to
be performed in said State, and the obligations, rights and remedies of the
Holder hereof shall be determined in accordance with such laws.

<PAGE>

   IN WITNESS WHEREOF, the Trustee has caused this Certificate to be duly
executed.

                                       LaSalle Bank National Association,
                                       as Trustee

                                       By:____________________________________
                                          Authorized Signatory

                          CERTIFICATE OF AUTHENTICATION

   This is one of the Class V Certificates referred to in the within
mentioned Agreement.

Dated:

                                       LaSalle Bank National Association,
                                       as Certificate Registrar

                                       By:____________________________________
                                          Authorized Signatory

<PAGE>

                                   SCHEDULE A

                Certificate Balance of
                Definitive Certificates
            exchanged or transferred for, or
             issued in exchange for or upon     Remaining Principal
            transfer of, an interest in this    Amount of Book Entry    Notation
  Date           Book-Entry Certificate            Certificate           Made By
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------
--------    --------------------------------    --------------------    --------

<PAGE>

                                   ASSIGNMENT

   FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s)
unto ______________________________________________________ (please print or
typewrite name and address including postal zip code of assignee) the beneficial
ownership interest in the Trust Fund evidenced by the within Commercial Mortgage
Pass-Through Certificate and hereby authorize(s) the registration of transfer of
such interest to the above named assignee on the Certificate Register of the
Trust Fund.

I (we) further direct the issuance of a new Commercial Mortgage Pass-Through
Certificate of a like Percentage Interest and Class to the above named assignee
and delivery of such Commercial Mortgage Pass-Through Certificate to the
following address: _____________________________________________________________
________________________________________________________________________________

Dated:

                                          ______________________________________
                                           Signature by or on behalf of Assignor

                                          ______________________________________
                                                    Signature Guaranteed

                            DISTRIBUTION INSTRUCTIONS

   The assignee should include the following for purposes of distribution:

   Distributions shall, if permitted, be made by wire transfer or otherwise, in
immediately available funds, to  ______________________________________ for the
account of _________________________________________________.

   Distributions made by check (such check to be made payable to
____________________________________) and all applicable statements and notices
should be mailed to _______________________________________________.

   This information is provided by _______________________________________, the
assignee named above, or _________________________________________, as its
agent.

<PAGE>

                                    EXHIBIT B

                    FORM OF INVESTMENT REPRESENTATION LETTER

LaSalle Bank National Association
135 South LaSalle Street, Suite 1625
Chicago, Illinois 60603
Attn:  Global Securities & Trust Services - Banc of America Commercial
       Mortgage Inc. Commercial Mortgage Pass-Through Certificates,
       Series 2006-2

Banc of America Commercial Mortgage Inc.
214 North Tryon Street
NC1-027-22-03
Charlotte, North Carolina 28255

      Re:   Transfer of Banc of America Commercial Mortgage Inc. Commercial
            Mortgage Pass-Through Certificates, Series 2006-2
            ---------------------------------------------------------------

Ladies and Gentlemen:

            This letter is delivered pursuant to Section 5.02 of the Pooling and
Servicing Agreement dated as of June 1, 2006 (the "Pooling and Servicing
Agreement"), by and among Banc of America Commercial Mortgage Inc., as
Depositor, Bank of America, N.A., as Master Servicer, LNR Partners, Inc., as
Special Servicer, and LaSalle Bank National Association, as Trustee and REMIC
Administrator on behalf of the holders of Banc of America Commercial Mortgage
Inc. Commercial Mortgage Pass-Through Certificates, Series 2006-2 (the
"Certificates"), in connection with the transfer by _________________ (the
"Seller") to the undersigned (the "Purchaser") of $_______________ aggregate
Certificate Balance of Class ___ Certificates (the "Certificate"). Capitalized
terms used and not otherwise defined herein shall have the respective meanings
ascribed to such terms in the Pooling and Servicing Agreement.

            In connection with such transfer, the Purchaser hereby represents
and warrants to you and the addressees hereof as follows:

            (a) Check one of the following:*

--------------
* Each Purchaser must include one of the following two certifications.

            |_| The Purchaser is an institutional "accredited investor" (an
entity meeting the requirements of Rule 501(a)(1), (2), (3) or (7) of Regulation
D under the Securities Act of 1933, as amended (the "1933 Act")) and has such
knowledge and experience in financial and business matters as to be capable of
evaluating the merits and risks of its investment in the Certificates, and the
Purchaser and any accounts for which it is acting are each able to bear the
economic risk of the Purchaser's or such account's investment. The Purchaser is
acquiring the Certificates purchased by it for its own account or for one or
more accounts (each of which is an "institutional accredited investor") as to
each of which the Purchaser exercises sole investment discretion. The Purchaser
hereby undertakes to reimburse the Trust Fund for any costs incurred by it in
connection with this transfer.

            |_| The Purchaser is a "qualified institutional buyer" within the
meaning of Rule 144A ("Rule 144A") promulgated under the Securities Act of 1933,
as amended (the "1933 Act"). The Purchaser is aware that the transfer is being
made in reliance on Rule 144A, and the Purchaser has had the opportunity to
obtain the information required to be provided pursuant to paragraph (d)(4)(i)
of Rule 144A.

            (b) The Purchaser's intention is to acquire the Certificate (a) for
      investment for the Purchaser's own account or (b) for resale (i) to
      "qualified institutional buyers" in transactions under Rule 144A, and not
      in any event with the view to, or for resale in connection with, any
      distribution thereof, or (ii) to institutional "accredited investors"
      meeting the requirements of Rule 501(a)(1), (2), (3) or (7) of Regulation
      D promulgated under the 1933 Act and applicable state securities laws,
      pursuant to any other exemption from the registration requirements of the
      1933 Act and applicable state securities laws, subject in the case of this
      clause (ii) to (w) the receipt by the Certificate Registrar of a letter
      substantially in the form hereof, (x) the receipt by the Certificate
      Registrar of an opinion of counsel acceptable to the Certificate Registrar
      that such reoffer, resale, pledge or transfer is in compliance with the
      1933 Act, (y) the receipt by the Certificate Registrar of such other
      evidence acceptable to the Certificate Registrar that such reoffer,
      resale, pledge or transfer is in compliance with the 1933 Act and other
      applicable laws and (z) a written undertaking to reimburse the Trust for
      any costs incurred by it in connection with the proposed transfer. The
      Purchaser understands that the Certificate (and any subsequent
      Certificate) has not been registered under the 1933 Act, by reason of a
      specified exemption from the registration provisions of the 1933 Act which
      depends upon, among other things, the bona fide nature of the Purchaser's
      investment intent (or intent to resell to only certain investors in
      certain exempted transactions) as expressed herein.

            (c) The Purchaser has reviewed the Private Placement Memorandum
      relating to the Certificates (the "Private Placement Memorandum") and the
      agreements and other materials referred to therein and has had the
      opportunity to ask questions and receive answers concerning the terms and
      conditions of the transactions contemplated by the Private Placement
      Memorandum.

            (d) The Purchaser acknowledges that the Certificate (and any
      Certificate issued on transfer or exchange thereof) has not been
      registered or qualified under the 1933 Act or the securities laws of any
      State or any other jurisdiction, and that the Certificate cannot be resold
      unless it is registered or qualified thereunder or unless an exemption
      from such registration or qualification is available.

            (e) The Purchaser hereby undertakes to be bound by the terms and
      conditions of the Pooling and Servicing Agreement in its capacity as an
      owner of a Certificate or Certificates, as the case may be (each, a
      "Certificateholder"), in all respects as if it were a signatory thereto.
      This undertaking is made for the benefit of the Trust, the Certificate
      Registrar and all Certificateholders present and future.

            (f) The Purchaser will not sell or otherwise transfer any portion of
      the Certificate or Certificates, except in compliance with Section 5.02 of
      the Pooling and Servicing Agreement.

            (g) Check one of the following:*

            |_| The Purchaser is a U.S. Tax Person (as defined below) and it has
attached hereto an Internal Revenue Service ("IRS") Form W-9 (or successor
form).

            |_| The Purchaser is not a "U.S. Tax Person" and under applicable
law in effect on the date hereof, no taxes will be required to be withheld by
the Certificate Registrar (or its agent) with respect to distributions to be
made on the Certificate. The Purchaser has attached hereto [(i) a duly executed
IRS Form W-8BEN (or successor form), which identifies such Purchaser as the
beneficial owner of the Certificate and states that such Purchaser is not a U.S.
Tax Person, (ii) two duly executed copies of IRS Form W-8IMY (with all
appropriate attachments) or (iii)]** two duly executed copies of IRS Form W-8ECI
(or successor form), which identify such Purchaser as the beneficial owner of
the Certificate and state that interest and original interest discount on the
Certificate and Permitted Investments is, or is expected to be, effectively
connected with a United States trade or business. The Purchaser agrees to
provide to the Certificate Registrar updated [IRS Form W-8BEN, IRS Form W-8IMY
or]** IRS Forms W-8ECI, as the case may be, any applicable successor IRS forms,
or such other certifications as the Certificate Registrar may reasonably
request, on or before the date that any such IRS form or certification expires
or becomes obsolete, or promptly after the occurrence of any event requiring a
change in the most recent IRS form of certification furnished by it to the
Certificate Registrar.

            For this purpose, "U.S. Tax Person" means a citizen or resident of
the United States for United States federal income tax purposes, a corporation
or partnership (except to the extent provided in applicable Treasury
regulations) created or organized in or under the laws of the United States, any
State thereof or the District of Columbia, including any entity treated as a
corporation or partnership for federal income tax purposes, an estate the income
of which is subject to United States federal income taxation regardless of its
source, or a trust if a court within the United States is able to exercise
primary supervision over the administration of such trust, and one or more
United States fiduciaries have the authority to control all substantial
decisions of such trust (or, to the extent provided in applicable Treasury
regulations, certain trusts in existence on August 20, 1996 which are eligible
to elect to be treated as U.S. Tax Persons).

--------------
* Each Purchaser must include one of the two alternative certifications.
** Omit for Class R-I and Class R-II.

            (h) Please make all payments due on the Certificates:***

            |_| (A) by wire transfer to the following account at a bank or
entity in New York, New York, having appropriate facilities therefor:

            Bank:
                  -----------------------------------------------------
            ABA#:
                  -----------------------------------------------------
            Account #:
                      -------------------------------------------------
            Attention:
                       ------------------------------------------------

            |_| (B) by mailing a check or draft to the following address:

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

                                       Very truly yours,

                                       --------------------------------------
                                          [The Purchaser]

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

Dated:

--------------
*** Only to be filled out by Purchasers of Definitive Certificates. Please
select (a) or (b). For holders of Definitive Certificates, wire transfers are
only available if such holder's Definitive Certificates have an aggregate
Certificate Balance or Notional Amount, as applicable, of at least U.S.
$5,000,000.

<PAGE>

                                   EXHIBIT C-1

                    FORM OF TRANSFER AFFIDAVIT AND AGREEMENT
                        PURSUANT TO SECTION 5.02(d)(i)(B)

STATE OF         )
                 ) participation.:
COUNTY OF        )

            [NAME OF OFFICER], being first duly sworn, deposes and says that:

            (a) He/She is the [Title of Officer] of [Name of Prospective
      Transferee] (the prospective transferee (the "Transferee") of a Banc of
      America Commercial Mortgage Inc. Class R-[I] [II] Commercial Mortgage
      Pass-Through Certificate, Series 2006-2, evidencing a ____% Percentage
      Interest in the Class to which it belongs (the "Residual Certificate")), a
      __________________________________ duly organized and validly existing
      under the laws of [the State of ____] [the United States], on behalf of
      which he/she makes this affidavit. Capitalized terms used but not defined
      herein have the respective meanings assigned thereto in the Pooling and
      Servicing Agreement pursuant to which the Residual Certificate was issued
      (the "Pooling and Servicing Agreement").

            (b) The Transferee (i) is [and, as of [date of transfer], will be] a
      Permitted Transferee and will endeavor to remain a Permitted Transferee
      for so long as it holds the Residual Certificate, and (ii) is acquiring
      the Residual Certificate for its own account or for the account of another
      prospective transferee from which it has received an affidavit in
      substantially the same form as this affidavit.

            (c) The Transferee is aware (i) of the tax that would be imposed on
      transfers of the Residual Certificate to Disqualified Organizations under
      the Internal Revenue Code of 1986, as amended; (ii) that such tax would be
      imposed on the transferor, or, if such transfer is through an agent (which
      person includes a broker, nominee or middleman) for a Disqualified
      Organization, on the agent; (iii) that the person otherwise liable for the
      tax shall be relieved of liability for the tax if the transferee furnishes
      to such person an affidavit that the transferee is not a Disqualified
      Organization and, at the time of transfer, such person does not have
      actual knowledge that the affidavit is false; and (iv) that the Residual
      Certificate may be a "non-economic residual interest" within the meaning
      of Treasury Regulations Section 1.860E-1(c) and that the transferor of a
      "non-economic residual interest" will remain liable for any taxes due with
      respect to the income on such residual interest, unless no significant
      purpose of the transfer is to enable the transferor to impede the
      assessment or collection of tax.

            (d) The Transferee is aware of the tax imposed on a "pass-through
      entity" holding the Residual Certificate if at any time during the taxable
      year of the pass-through entity a "disqualified organization" is the
      record holder of an interest in such entity. (For this purpose, a
      "pass-through entity" includes a regulated investment company, a real
      estate investment trust or common trust fund, a partnership, trust or
      estate, and certain cooperatives.)

            (e) The Transferee is aware that the Certificate Registrar will not
      register any transfer of the Residual Certificate by the Transferee unless
      the Transferee's transferee, or such transferee's agent, delivers to the
      Certificate Registrar, among other things, an affidavit and agreement in
      substantially the same form as this affidavit and agreement. The
      Transferee expressly agrees that it will not consummate any such transfer
      if it knows or believes that any representation contained in such
      affidavit and agreement is false.

            (f) The Transferee consents to any additional restrictions or
      arrangements that shall be deemed necessary upon advice of counsel to
      constitute a reasonable arrangement to ensure that the Residual
      Certificate will only be owned, directly or indirectly, by a Permitted
      Transferee.

            (g) The Transferee's taxpayer identification number is
      ______________.

            (h) The Transferee has reviewed the provisions of Section 5.02(d) of
      the Pooling and Servicing Agreement, a description of which provisions is
      set forth in the Residual Certificate (in particular, clause (ii) of
      Section 5.02(d) which authorizes the Trustee to deliver payments on the
      Residual Certificate to a person other than the Transferee, in the event
      that the Transferee holds such Residual Certificate in violation of
      Section 5.02(d)), and the Transferee expressly agrees to be bound by and
      to comply with such provisions.

            (i) No purpose of the Transferee relating to its purchase or any
      sale of the Residual Certificate is or will be to impede the assessment or
      collection of any tax.

            (j) The Transferee hereby represents to and for the benefit of the
      transferor that the Transferee intends to pay any taxes associated with
      holding the Residual Certificate as they become due, fully understanding
      that it may incur tax liabilities in excess of any cash flows generated by
      the Residual Certificate.

            (k) The Transferee will, in connection with any transfer that it
      makes of the Residual Certificate, deliver to the Certificate Registrar a
      representation letter substantially in the form of Exhibit C-2 to the
      Pooling and Servicing Agreement in which it will represent and warrant,
      among other things, that it is not transferring the Residual Certificate
      to impede the assessment or collection of any tax and that it has at the
      time of such transfer conducted a reasonable investigation of the
      financial condition of the proposed transferee as contemplated by Treasury
      Regulations Section 1.860E-1(c)(4)(i) and has satisfied the requirements
      of such provision.

            (l) The Transferee will not cause income to be attributable to a
      foreign permanent establishment or fixed base, within the meaning of an
      applicable income tax treaty, of the Transferee or any other United States
      person.

            (m) Check the applicable box:

            |_|  The present value of the anticipated tax liabilities
associated with holding the Residual Certificate does not exceed the sum of:

                  (i) the present value of any consideration given to the
            Transferee to acquire such Residual Certificate;

                  (ii) the present value of the expected future distributions on
            such Residual Certificate; and

                  (iii) the present value of the anticipated tax savings
            associated with holding such Residual Certificate as the related
            REMIC generates losses.

            For purposes of this calculation, (i) the Transferee is assumed to
pay tax at the highest rate currently specified in Section 11(b) of the Code
(but the tax rate in Section 55(b)(1)(B) of the Code may be used in lieu of the
highest rate specified in Section 11(b) of the Code if the Transferee has been
subject to the alternative minimum tax under Section 55 of the Code in the
preceding two years and will compute its taxable income in the current taxable
year using the alternative minimum tax rate) and (ii) present values are
computed using a discount rate equal to the short-term Federal rate prescribed
by Section 1274(d) of the Code for the month of the transfer and the compounding
period used by the Transferee.

            |_|  The transfer of the Residual Certificate complies with U.S.
Treasury Regulations Sections 1.860G-1(c)(5) and (6) and, accordingly,

                  (i) the Transferee is an "eligible corporation," as defined in
            U.S. Treasury Regulations Section 1.860E-1(c)(6)(i), as to which
            income from the Residual Certificate will only be taxed in the
            United States;

                  (ii) at the time of the transfer, and at the close of the
            Transferee's two fiscal years preceding the year of the transfer,
            the Transferee had gross assets for financial reporting purposes
            (excluding any obligation of a person related to the Transferee
            within the meaning of U.S. Treasury Regulations Section
            1.860E-1(c)(6)(ii)) in excess of $100 million and net assets in
            excess of $10 million;

                  (iii) the Transferee will transfer the Residual Certificate
            only to another "eligible corporation," as defined in U.S. Treasury
            Regulations Section 1.860E-1(c)(6)(i), in a transaction that
            satisfies the requirements of U.S. Treasury Regulations Sections
            1.860G-1(c)(4)(i), (ii) and (iii) and 1.860E-1(c)(5); and

                  (iv) the Transferee determined the consideration paid to it to
            acquire the Residual Certificate based on reasonable market
            assumptions (including, but not limited to, borrowing and investment
            rates, prepayment and loss assumptions, expense and reinvestment
            assumptions, tax rates and other factors specific to the Transferee)
            that it has determined in good faith.

            |_|  None of the above.

<PAGE>

            IN WITNESS WHEREOF, the Transferee has caused this instrument to be
executed on its behalf, pursuant to the authority of its Board of Directors, by
its [Title of Officer] and its corporate seal to be hereunto attached, attested
by its [Assistant] Secretary, this ___ day of __________, 20__.

                                       [NAME OF TRANSFEREE]

                                       By:
                                          --------------------------------------
                                          [Name of Officer]
                                          [Title of Officer]

[Corporate Seal]

ATTEST:

------------------------------
[Assistant] Secretary

            Personally appeared before me the above named [Name of Officer],
known or proved to me to be the same person who executed the foregoing
instrument and to be the [Title of Officer] of the Transferee, and acknowledged
to me that he/she executed the same as his/her free act and deed and the free
act and deed of the Transferee

            Subscribed and sworn before me this ___ day of ______________, 20__.

                                       -----------------------------------------
                                       NOTARY PUBLIC

COUNTY OF ___________
STATE OF _____________
My Commission expires the _________
day of _____________, 20__.

<PAGE>

                                   EXHIBIT C-2

                         FORM OF TRANSFEROR CERTIFICATE
                        PURSUANT TO SECTION 5.02(d)(i)(D)

                                                     __________________, 20___

LaSalle Bank National Association
135 South LaSalle Street, Suite 1625
Chicago, Illinois 60603
Attn: Global Securities & Trust Services - Banc of America Commercial Mortgage
      Inc. Commercial Mortgage Pass-Through Certificates, Series 2006-2

      Re:   Banc of America Commercial Mortgage Inc. Commercial Mortgage
            Pass-Through Certificates, Series 2006-2, Class R-[I] [II],
            evidencing a __% percentage interest in the Class to which it
            belongs
            --------------------------------------------------------------

Dear Sirs:

            This letter is delivered to you in connection with the transfer by
_____________ (the "Transferor") to ____________________ (the "Transferee") of
the captioned Class R-[I] [II] Certificate (the "Residual Certificate"),
pursuant to Section 5.02 of the Pooling and Servicing Agreement (the "Pooling
and Servicing Agreement"), dated as of June 1, 2006, by and among Banc of
America Commercial Mortgage Inc., as Depositor, Bank of America, N.A., as Master
Servicer, LNR Partners, Inc., as Special Servicer and LaSalle Bank National
Association, as Trustee and REMIC Administrator. All terms used herein and not
otherwise defined shall have the respective meanings set forth in the Pooling
and Servicing Agreement. The Transferor hereby represents and warrants to you,
as Certificate Registrar, that:

            (a) No purpose of the Transferor relating to the transfer of the
      Residual Certificate by the Transferor to the Transferee is or will be to
      impede the assessment or collection of any tax.

            (b) The Transferor understands that the Transferee has delivered to
      you a Transfer Affidavit and Agreement in the form attached to the Pooling
      and Servicing Agreement as Exhibit C-1. The Transferor does not know or
      believe that any representation contained therein is false.

            (c) The Transferor has at the time of this transfer conducted a
      reasonable investigation of the financial condition of the Transferee as
      contemplated by Treasury Regulations Section 1.860E-1(c)(4)(i) and, as a
      result of that investigation, the Transferor has determined that the
      Transferee has historically paid its debts as they became due and has
      found no significant evidence to indicate that the Transferee will not
      continue to pay its debts as they become due in the future. The Transferor
      understands that the transfer of the Residual Certificate may not be
      respected for United States federal income tax purposes (and the
      Transferor may continue to be liable for United States federal income
      taxes associated therewith) unless the Transferor has conducted such an
      investigation.

                                       Very truly yours,

                                       -----------------------------------------
                                       (Transferor)

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

<PAGE>

                                    EXHIBIT D

                               REQUEST FOR RELEASE

                                                   ____________________, 20___

LaSalle Bank National Association
135 South LaSalle Street, Suite 1625
Chicago, Illinois 60603
Attn: Global Securities & Trust Services - Banc of America Commercial Mortgage
      Inc. Commercial Mortgage Pass-Through Certificates, Series 2006-2

            In connection with the administration of the Mortgage Files held by
or on behalf of you as Trustee under that certain Pooling and Servicing
Agreement dated as of June 1, 2006 (the "Pooling and Servicing Agreement"), by
and among Banc of America Commercial Mortgage Inc., as Depositor, Bank of
America, N.A., as Master Servicer, LNR Partners, Inc., as Special Servicer and
LaSalle Bank National Association, as Trustee and REMIC Administrator, the
undersigned hereby requests a release of the Mortgage File (or the portion
thereof specified below) held by or on behalf of you as Trustee with respect to
the following described Mortgage Loan for the reason indicated below.

            Property Name:
                          ------------------------------------------------
            Address:
                    ------------------------------------------------------
            Prospectus No.:
                           -----------------------------------------------

If only particular documents in the Mortgage File are requested, please specify
which:

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

            Reason for requesting file (or portion thereof):

            ______ (a) Mortgage Loan paid in full. The undersigned hereby
certifies that all amounts received in connection with the Mortgage Loan that
are required to be credited to the Certificate Account pursuant to the Pooling
and Servicing Agreement, have been or will be so credited.

            ______ (b) The Mortgage Loan is being foreclosed.

            ______ (c) Other. (Describe)

<PAGE>

            The undersigned acknowledges that the above Mortgage File (or
requested portion thereof) will be held by the undersigned in accordance with
the provisions of the Pooling and Servicing Agreement and will be returned to
you or your designee within ten (10) days of our receipt thereof, unless the
Mortgage Loan has been paid in full, in which case the Mortgage File (or such
portion thereof) will be retained by us permanently, or unless the Mortgage Loan
is being foreclosed, in which case the Mortgage File (or such portion thereof)
will be returned when no longer required by us for such purpose.

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

                                       BANK OF AMERICA, N.A.

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

                                       LNR PARTNERS, INC.

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

Please deliver the Mortgage File as follows:

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

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

---------------------------------------------
Attention:
           ----------------------------------
Phone:
       --------------------------------------

<PAGE>

                                    EXHIBIT E

                       FORM OF ERISA REPRESENTATION LETTER

LaSalle Bank National Association
135 South LaSalle Street, Suite 1625
Chicago, Illinois 60603
Attn: Global Securities & Trust Services - Banc of America Commercial Mortgage
      Inc. Commercial Mortgage Pass-Through Certificates, Series 2006-2

Banc of America Commercial Mortgage Inc.
214 North Tryon Street
NC1-027-22-03
Charlotte, North Carolina 28255

      Re:   Transfer of Banc of America Commercial Mortgage Inc. Commercial
            Mortgage Pass-Through Certificates, Series 2006-2
            ---------------------------------------------------------------

Ladies and Gentlemen:

            The undersigned (the "Purchaser") proposes to purchase $____________
initial Certificate Balance of Banc of America Commercial Mortgage Inc.
Commercial Mortgage Pass-Through Certificates, Series 2006-2, Class __ (the
"Certificate") issued pursuant to that Pooling and Servicing Agreement, dated as
of June 1, 2006 (the "Pooling and Servicing Agreement"), by and among Banc of
America Commercial Mortgage Inc., as Depositor, Bank of America, N.A., as Master
Servicer, LNR Partners, Inc., as Special Servicer and LaSalle Bank National
Association, as Trustee and REMIC Administrator. Capitalized terms used and not
otherwise defined herein have the respective meanings ascribed to such terms in
the Pooling and Servicing Agreement.

            In connection with such transfer, the undersigned hereby represents
and warrants to you as follows:

            (a) The Purchaser either is not (a) an employee benefit plan subject
      to the fiduciary responsibility provisions of the Employee Retirement
      Income Security Act of 1974, as amended ("ERISA") or a plan subject to
      Section 4975 of the Internal Revenue Code of 1986, as amended (the
      "Code"), or a governmental plan (as defined in Section 3(32) of ERISA)
      subject to any federal, state or local law ("Similar Law") which is, to a
      material extent, similar to the foregoing provisions of ERISA or the Code
      (each a "Plan") or (b) a person acting on behalf of or using the assets of
      any such Plan (including an entity whose underlying assets include Plan
      assets by reason of investment in the entity by any such Plan and the
      application of Department of Labor Regulation ss. 2510.3-101), other than
      (except with respect to the Class V Certificates and the Residual
      Certificates) an insurance company using the assets of its general account
      under circumstances whereby the purchase and holding of Offered Private
      Certificates by such insurance company would be exempt from the prohibited
      transaction provisions of ERISA and the Code under both Sections I and III
      of Prohibited Transaction Class Exemption 95-60, or (except with respect
      to the Class V Certificates and the Residual Certificates) will deliver
      the opinion contemplated by 3 below.

            (b) Except for the Class V Certificates and the Residual
      Certificates (which may not transferred unless the Purchaser can make the
      representation described in 1 above), the Purchaser is purchasing
      Certificates, which at the time of purchase are rated "BBB-" or better by
      at least one of Fitch, Inc., Standard & Poor's Ratings Services, a
      division of The McGraw-Hill Companies, Inc. or Moody's Investors Service,
      Inc., and the Purchaser (a) is purchasing the Certificates pursuant to
      Prohibited Transaction Exemption 93-31 and (b) is an "accredited investor"
      as defined in Rule 501(a)(1) of Regulation D of the Securities and
      Exchange Commission under the Securities Act of 1933, as amended.

            (c) Except for the Class V Certificates and the Residual
      Certificates (which may not transferred unless the Purchaser can make the
      representation described in 1 above), the Purchaser understands that if
      the Purchaser is a Person referred to in 1(a) or (b) above and cannot make
      the representation in 2 above, such Purchaser is required to provide to
      the Certificate Registrar an opinion of counsel in form and substance
      satisfactory to the Certificate Registrar and the Depositor to the effect
      that the acquisition and holding of such Certificate by such purchaser or
      transferee will not constitute or result in a non-exempt "prohibited
      transaction" within the meaning of ERISA, Section 4975 of the Code or any
      Similar Law, and will not subject the Trustee, the Certificate Registrar,
      the Master Servicer, the Special Servicer, the Placement Agent or the
      Depositor to any obligation or liability (including obligations or
      liabilities under ERISA, Section 4975 of the Code or any such Similar Law)
      in addition to those set forth in the Pooling and Servicing Agreement,
      which Opinion of Counsel will not be at the expense of the Depositor, the
      Master Servicer, the Special Servicer, the Trustee, the Placement Agent,
      the Certificate Registrar or the Trust Fund.

            IN WITNESS WHEREOF, the Purchaser hereby executes this ERISA
Representation Letter on the ___th day of _____, ____.

                                       Very truly yours,

                                       -----------------------------------------
                                       [The Purchaser]

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

<PAGE>

                                    EXHIBIT F

                         FORM OF CUSTODIAL CERTIFICATION

[Date]

Banc of America Commercial Mortgage Inc.,
   as Depositor
214 North Tryon Street
NC1-027-22-03
Charlotte, North Carolina 28255
Attention:  Stephen Hogue

      Re:   Pooling and Servicing Agreement dated as of June 1, 2006 (the
            "Agreement") by and among Banc of America Commercial Mortgage Inc.
            as Depositor, Bank of America, N.A., as Master Servicer, LNR
            Partners, Inc., as Special Servicer and LaSalle Bank National
            Association, as Trustee and REMIC Administrator for the
            Certificateholders of Commercial Mortgage Pass-Through Certificates,
            Series 2006-2
            --------------------------------------------------------------------

Ladies and Gentlemen:

            Pursuant to Section 2.02(b) of the above referenced Agreement, the
Trustee hereby certifies as to each Mortgage Loan listed on the Mortgage Loan
Schedule (other than any Mortgage Loan paid in full), and except as specifically
identified in the exception report annexed hereto, (i) all documents specified
in the definition of "Mortgage File" are in its possession or the possession of
a Custodian on its behalf, or each Mortgage Loan Seller has otherwise satisfied
the delivery requirements in respect of such documents in accordance with
Section 2.01(b) and (ii) all documents received by it or any Custodian in
respect of such Mortgage Loan have been reviewed by it or by a Custodian on its
behalf and appear regular on their face, appear to be executed, and relate to
such Mortgage Loan.

            None of the Trustee, the Master Servicer, the Special Servicer or
any Custodian is under any duty or obligation (i) to determine whether any of
the documents specified in clauses (iii), (v), (vi) and (viii) through (xii) of
the definition of "Mortgage File" exist or are required to be delivered by the
Mortgage Loan Seller in respect of any Mortgage Loan, or (ii) to inspect, review
or examine any of the documents, instruments, certificates or other papers
relating to the Mortgage Loans delivered to it to determine that the same are
valid, legal, effective, genuine, binding, enforceable, sufficient or
appropriate for the represented purpose or that they are other than what they
purport to be on their face. Notwithstanding the foregoing, with respect to
Letters of Credit referenced in clause (xii) of the definition of "Mortgage
File" the Trustee shall perform the review set forth in Section
2.02(b)(iii)(A)-(C) of the Agreement. Furthermore, except as expressly provided
in Section 2.02(b) of the Agreement, none of the Trustee, the Master Servicer,
the Special Servicer or any Custodian shall have any responsibility for
determining whether the text of any assignment or endorsement is in proper or
recordable form, whether the requisite recording of any document is in
accordance with the requirements of any applicable jurisdiction, or whether a
blanket assignment is permitted in any applicable jurisdiction.

            Any terms used herein and not defined shall have the respective
meaning assigned to them in the Agreement.

                                       Respectfully,

                                       [Name]
                                       [Title]

cc:   Paul E. Kurzeja, Esq., Assistant General Counsel, Bank of America
      Corporation

<PAGE>

                                    EXHIBIT G

                    Banc of America Commercial Mortgage Inc.
                  Commercial Mortgage Pass Through Certificates
                                  Series 2006-2
[LOGO] LaSalle Bank
       ABN AMRO                                       Statement Date: 10-Jul-06
                                                      Payment Date:   10-Jul-06
135 S. LaSalle Street Suite 1625                      Prior Payment:        N/A
Chicago, IL 60603                                     Next Payment:   10-Aug-06
USA                                                   Record Date:    30-Jun-06

Administrator:                                        Analyst:
Nick Xeros 312.904.0708                               Patrick Gong 714.259.6253
nick.xeros@abnamro.com                                patrick.gong@abnamro.com
                                 ABN AMRO Acct:

                       Reporting Package Table of Contents

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

Issue Id:                                                            BACM0602

Monthly Data File Name:                                 BACM0602_200607_3.ZIP
--------------------------------------------------------------------------------

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

                                                                   Page(s)
                                                                   -------
Statements to Certificateholders                                   Page 2
Cash Reconciliation Summary                                        Page 3
Bond Interest Reconciliation                                       Page 4
Bond Interest Reconciliation                                       Page 5
Bond Principal Reconciliation                                      Page 6
Shortfall Summary Report                                           Page 7
Asset-Backed Facts ~ 15 Month Loan Status Summary                  Page 8
Asset-Backed Facts ~ 15 Month Loan Payoff/Loss Summary             Page 9
Mortgage Loan Characteristics                                      Page 10-12
Delinquent Loan Detail                                             Page 13
Loan Level Detail                                                  Page 14
Realized Loss Detail                                               Page 15
Collateral Realized Loss                                           Page 16
Appraisal Reduction Detail                                         Page 17
Material Breaches Detail                                           Page 18
Historical Collateral Prepayment                                   Page 19
Specially Serviced (Part I) - Loan Detail                          Page 20
Specially Serviced (Part II) - Servicer Comments                   Page 21
Summary of Loan Maturity Extensions                                Page 22
Rating Information                                                 Page 23
Other Related Information                                          Page 24

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

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

Closing Date:                                                   22-Jun-2006
First Payment Date:                                             10-Jul-2006
Rated Final Payment Date:                                       10-May-2045
Determination Date:                                             21-Jul-2006

--------------------------------------------------------------------------------
                            Trust Collection Period
--------------------------------------------------------------------------------
                             6/22/2006 - 7/21/2006
--------------------------------------------------------------------------------

--------------------------------------------------------------------------------
                           Parties to The Transaction
--------------------------------------------------------------------------------
                  Underwriter: Banc of America Securities LLC
                     Master Servicer: Bank of America, N.A.
                      Special Servicer: LNR Partners, Inc.
                 Rating Agency: Fitch Ratings/Standard & Poor's

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

--------------------------------------------------------------------------------
       Information is available for this issue from the following sources
--------------------------------------------------------------------------------
LaSalle Web Site                              www.etrustee.net

LaSalle Factor Line                             (800) 246-5761
--------------------------------------------------------------------------------

                                                                    Page 1 of 24
<PAGE>

                    Banc of America Commercial Mortgage Inc.
                  Commercial Mortgage Pass Through Certificates
                                  Series 2006-2
[LOGO] LaSalle Bank
       ABN AMRO                                       Statement Date: 10-Jul-06
                                                      Payment Date:   10-Jul-06
                                                      Prior Payment:        N/A
                                                      Next Payment:   10-Aug-06
                                                      Record Date:    30-Jun-06

<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
              Original       Opening    Principal    Principal       Negative      Closing    Interest     Interest    Pass-Through
Class      Face Value (1)    Balance     Payment    Adj. or Loss   Amortization    Balance   Payment (2)  Adjustment       Rate
CUSIP                                                                                                                  Next Rate (3)
------------------------------------------------------------------------------------------------------------------------------------
<S>        <C>              <C>         <C>         <C>            <C>            <C>         <C>         <C>          <C>

------------------------------------------------------------------------------------------------------------------------------------
Total
------------------------------------------------------------------------------------------------------------------------------------
                                                                             Total P&I Payment
                                                                             =======================
</TABLE>

Notes: (1)  N denotes notional balance not included in total

       (2)  Accrued Interest Plus/Minus Interest Adjustment Minus Deferred
            Interest equals Interest Payment

       (3)  Estimated.

       *    Denotes Controlling Class

                                                                    Page 2 of 24
<PAGE>

                    Banc of America Commercial Mortgage Inc.
                  Commercial Mortgage Pass Through Certificates
                                  Series 2006-2
[LOGO] LaSalle Bank
       ABN AMRO                                       Statement Date: 10-Jul-06
                                                      Payment Date:   10-Jul-06
                                                      Prior Payment:        N/A
                                                      Next Payment:   10-Aug-06
                                                      Record Date:    30-Jun-06

                                 ABN AMRO Acct:

                           Cash Reconciliation Summary

--------------------------------------------------------------------------------
                                Interest Summary
--------------------------------------------------------------------------------
Current Scheduled Interest                                        0.00
Less Deferred Interest                                            0.00
Less PPIS Reducing Scheduled Int                                  0.00
Plus Gross Advance Interest                                       0.00
Less ASER Interest Adv Reduction                                  0.00
Less Other Interest Not Advanced                                  0.00
Less Other Adjustment                                             0.00
--------------------------------------------------------------------------------
Total                                                             0.00
--------------------------------------------------------------------------------
                             Unscheduled Interest:
--------------------------------------------------------------------------------
Prepayment Penalties                                              0.00
Yield Maintenance Penalties                                       0.00
Other Interest Proceeds                                           0.00
--------------------------------------------------------------------------------
Total                                                             0.00
--------------------------------------------------------------------------------
Less Fee Paid To Servicer                                         0.00
Less Fee Strips Paid by Servicer                                  0.00
--------------------------------------------------------------------------------
                    Less Fees & Expenses Paid By/To Servicer
--------------------------------------------------------------------------------
Special Servicing Fees                                            0.00
Workout Fees                                                      0.00
Liquidation Fees                                                  0.00
Interest Due Serv on Advances                                     0.00
Non Recoverable Advances                                          0.00
Misc. Fees & Expenses                                             0.00
--------------------------------------------------------------------------------

--------------------------------------------------------------------------------
Total Unscheduled Fees & Expenses                                 0.00
--------------------------------------------------------------------------------
Total Interest Due Trust                                          0.00
--------------------------------------------------------------------------------
                     Less Fees & Expenses Paid By/To Trust
--------------------------------------------------------------------------------
Trustee Fee                                                       0.00
Fee Strips                                                        0.00
Misc. Fees                                                        0.00
Interest Reserve Withholding                                      0.00
Plus Interest Reserve Deposit                                     0.00
--------------------------------------------------------------------------------
Total                                                             0.00
--------------------------------------------------------------------------------
Total Interest Due Certs                                          0.00
--------------------------------------------------------------------------------

--------------------------------------------------------------------------------
                               Principal Summary
--------------------------------------------------------------------------------

Scheduled Principal:
--------------------
Current Scheduled Principal                                       0.00
Advanced Scheduled Principal                                      0.00
--------------------------------------------------------------------------------
Scheduled Principal                                               0.00
--------------------------------------------------------------------------------

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

Unscheduled Principal:
----------------------
Curtailments                                                      0.00
Prepayments in Full                                               0.00
Liquidation Proceeds                                              0.00
Repurchase Proceeds                                               0.00
Other Principal Proceeds                                          0.00
--------------------------------------------------------------------------------
Total Unscheduled Principal                                       0.00
--------------------------------------------------------------------------------
Remittance Principal                                              0.00
--------------------------------------------------------------------------------
Remittance P&I Due Trust                                          0.00
--------------------------------------------------------------------------------
Remittance P&I Due Certs                                          0.00
--------------------------------------------------------------------------------

--------------------------------------------------------------------------------
                              Pool Balance Summary
--------------------------------------------------------------------------------
                                                      Balance     Count
--------------------------------------------------------------------------------
Beginning Pool                                        0.00        0
Scheduled Principal                                   0.00        0
Unscheduled Principal                                 0.00        0
Deferred Interest                                     0.00        0
Liquidations                                          0.00        0
Repurchases                                           0.00        0
--------------------------------------------------------------------------------
Ending Pool                                           0.00        0
--------------------------------------------------------------------------------

--------------------------------------------------------------------------------
                       Non-P&I Servicing Advance Summary
--------------------------------------------------------------------------------
                                                                  Amount
--------------------------------------------------------------------------------
Prior Outstanding                                                 0.00
Plus Current Period                                               0.00
Less Recovered                                                    0.00
Less Non Recovered                                                0.00
Ending Outstanding                                                0.00
--------------------------------------------------------------------------------

--------------------------------------------------------------------------------
                             Servicing Fee Summary
--------------------------------------------------------------------------------
Current Servicing Fees                                            0.00
Plus Fees Advanced for PPIS                                       0.00
Less Reduction for PPIS                                           0.00
Plus Delinquent Servicing Fees                                    0.00
--------------------------------------------------------------------------------
Total Servicing Fees                                              0.00
--------------------------------------------------------------------------------

--------------------------------------------------------------------------------
                  Cumulative Prepayment Consideration Received
--------------------------------------------------------------------------------
Prepayment Premiums                                               0.00
Yield Maintenance                                                 0.00
Other Interest                                                    0.00
--------------------------------------------------------------------------------

--------------------------------------------------------------------------------
                                  PPIS Summary
--------------------------------------------------------------------------------
Gross PPIS                                                        0.00
Reduced by PPIE                                                   0.00
Reduced by Shortfalls in Fees                                     0.00
Reduced by Other Amounts                                          0.00
--------------------------------------------------------------------------------
PPIS Reducing Scheduled                                           0.00
--------------------------------------------------------------------------------
PPIS Reducing Servicing Fee                                       0.00
--------------------------------------------------------------------------------
PPIS Due Certificate                                              0.00
--------------------------------------------------------------------------------

--------------------------------------------------------------------------------
                   Advance Summary (Advance Made by Servicer)
--------------------------------------------------------------------------------
                                                 Principal    Interest
--------------------------------------------------------------------------------
Prior Outstanding                                     0.00        0.00
Plus Current Period                                   0.00        0.00
Less Recovered                                        0.00        0.00
Less Non Recovered                                    0.00        0.00
Ending Outstanding                                    0.00        0.00
--------------------------------------------------------------------------------

                                                                    Page 3 of 24
<PAGE>

                    Banc of America Commercial Mortgage Inc.
                  Commercial Mortgage Pass Through Certificates
                                  Series 2006-2
[LOGO] LaSalle Bank
       ABN AMRO                                       Statement Date: 10-Jul-06
                                                      Payment Date:   10-Jul-06
                                                      Prior Payment:        N/A
                                                      Next Payment:   10-Aug-06
                                                      Record Date:    30-Jun-06

                                 ABN AMRO Acct:

                          Bond Interest Reconciliation

<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------
           Accrual                   Pass-      Accrued       Total        Total
        --------------    Opening   Through   Certificate    Interest     Interest
Class   Method    Days    Balance    Rate      Interest     Additions    Deductions
-----------------------------------------------------------------------------------
<C>     <C>       <C>     <C>       <C>       <C>           <C>          <C>

<CAPTION>
-----------------------------------------------------------------------------------
                                    Current       Remaining
        Distributable   Interest    Period       Outstanding      Credit Support
         Certificate    Payment    Shortfall      Interest     ---------------------
Class     Interest       Amount     Recovery     Shortfalls    Original   Current(1)
------------------------------------------------------------------------------------
<C>     <C>             <C>        <C>           <C>           <C>        <C>

</TABLE>

(1)  Determined as follows: (A) the ending balance of all the classes less (B)
     the sum of (i) the ending balance of the class and (ii) the ending balance
     of all classes which are not subordinate to the class divided by (A).

                                                                    Page 4 of 24
<PAGE>

                    Banc of America Commercial Mortgage Inc.
                  Commercial Mortgage Pass Through Certificates
                                  Series 2006-2
[LOGO] LaSalle Bank
       ABN AMRO                                       Statement Date: 10-Jul-06
                                                      Payment Date:   10-Jul-06
                                                      Prior Payment:        N/A
                                                      Next Payment:   10-Aug-06
                                                      Record Date:    30-Jun-06

                                 ABN AMRO Acct:

                          Bond Interest Reconciliation

<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------------
                                                               Additions
                               --------------------------------------------------------------------------
           Prior     Current       Prior           Interest                                    Other
         Interest   Interest     Interest         Accrual on     Prepayment      Yield        Interest
Class    Due Date   Due Date   Shortfall Due   Prior Shortfall    Premiums    Maintenance    Proceeds(1)
---------------------------------------------------------------------------------------------------------
<S>     <C>        <C>         <C>             <C>               <C>         <C>           <C>

<CAPTION>
-------------------------------------------------------------------------
                      Deductions
        --------------------------------------
                       Deferred &    Interest    Distributable   Interest
          Allocable     Accretion      Loss       Certificate    Payment
Class       PPIS         Interest     Expense      Interest       Amount
-------------------------------------------------------------------------
<S>     <C>            <C>           <C>         <C>             <C>

</TABLE>

(1)  Other Interest Proceeds are additional interest amounts specifically
     allocated to the bond(s) and used in determining the Bondholder's
     Distributable Interest.

                                                                    Page 5 of 24
<PAGE>

                    Banc of America Commercial Mortgage Inc.
                  Commercial Mortgage Pass Through Certificates
                                  Series 2006-2
[LOGO] LaSalle Bank
       ABN AMRO                                       Statement Date: 10-Jul-06
                                                      Payment Date:   10-Jul-06
                                                      Prior Payment:        N/A
                                                      Next Payment:   10-Aug-06
                                                      Record Date:    30-Jun-06

                                 ABN AMRO Acct:

                         Bond Principal Reconciliation

<TABLE>
<CAPTION>
--------------------------------------------------------------------------------
                                                    Additions
                               -------------------------------------------------
         Original   Beginning   Scheduled   Unscheduled     Extra      Prior
           Class      Class     Principal    Principal    Principal     Loss
Class     Balance    Balance     Payment      Payment    Payment Amt   Reimburs.
--------------------------------------------------------------------------------
<S>     <C>        <C>         <C>          <C>          <C>           <C>

<CAPTION>
---------------------------------------------------------------------------------------
                        Losses
        --------------------------------------
                               Interest                    Rated       Credit Support
         Current  Cumulative      on         Ending        Final     ------------------
Class    Losses     Losses      Losses    Class Balance   Maturity   Original   Current
---------------------------------------------------------------------------------------
<S>     <C>             <C>        <C>           <C>        <C>

</TABLE>

                                                                    Page 6 of 24
<PAGE>

                    Banc of America Commercial Mortgage Inc.
                  Commercial Mortgage Pass Through Certificates
                                  Series 2006-2
[LOGO] LaSalle Bank
       ABN AMRO                                       Statement Date: 10-Jul-06
                                                      Payment Date:   10-Jul-06
                                                      Prior Payment:        N/A
                                                      Next Payment:   10-Aug-06
                                                      Record Date:    30-Jun-06

                                 ABN AMRO Acct:

                          Interest Adjustments Summary

--------------------------------------------------------------------------------
Shortfall Allocated to the Bonds:
---------------------------------
Net Prepayment Int. Shortfalls Allocated to the Bonds                   0.00
Special Servicing Fees                                                  0.00
Workout Fees                                                            0.00
Liquidation Fees                                                        0.00
Legal Fees                                                              0.00
Misc. Fees & Expenses Paid by/to Servicer                               0.00
Interest Paid to Servicer on Outstanding Advances                       0.00
ASER Interest Advance Reduction                                         0.00
Interest Not Advanced (Current Period)                                  0.00
Recoup of Prior Advances by Servicer                                    0.00
Servicing Fees Paid Servicer on Loans Not Advanced                      0.00
Misc. Fees & Expenses Paid by Trust                                     0.00
Shortfall Due to Rate Modification                                      0.00
Other Interest Loss                                                     0.00
                                                            ----------------
Total Shortfall Allocated to the Bonds                                  0.00
                                                            ================
--------------------------------------------------------------------------------

--------------------------------------------------------------------------------
Excess Allocated to the Bonds:
------------------------------
Other Interest Proceeds Due the Bonds                                   0.00
Prepayment Interest Excess Due the Bonds                                0.00
Interest Income                                                         0.00
Yield Maintenance Penalties Due the Bonds                               0.00
Prepayment Penalties Due the Bonds                                      0.00
Recovered ASER Interest Due the Bonds                                   0.00
Recovered Interest Due the Bonds                                        0.00
ARD Excess Interest                                                     0.00
                                                            ----------------
Total Excess Allocated to the Bonds                                     0.00
                                                            ================
--------------------------------------------------------------------------------

              Aggregate Interest Adjustment Allocated to the Bonds
--------------------------------------------------------------------------------
Total Excess Allocated to the Bonds                                     0.00
Less Total Shortfall Allocated to the Bonds                             0.00
                                                            ----------------
Total Interest Adjustment to the Bonds                                  0.00
                                                            ================
--------------------------------------------------------------------------------

                                                                    Page 7 of 24
<PAGE>

                    Banc of America Commercial Mortgage Inc.
                  Commercial Mortgage Pass Through Certificates
                                  Series 2006-2
[LOGO] LaSalle Bank
       ABN AMRO                                       Statement Date: 10-Jul-06
                                                      Payment Date:   10-Jul-06
                                                      Prior Payment:        N/A
                                                      Next Payment:   10-Aug-06
                                                      Record Date:    30-Jun-06

                                 ABN AMRO Acct:

          Asset-Backed Facts ~ 15 Month Historical Loan Status Summary

<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------------------------
                        Delinquency Aging Categories
              --------------------------------------------------------------------------------------------
                Delinq 1 Month    Delinq 2 Month    Delinq 3+ Month      Foreclosure           REO
Distribution
    Date         #     Balance     #     Balance     #      Balance     #     Balance     #     Balance
----------------------------------------------------------------------------------------------------------
<S>             <C>               <C>               <C>                 <C>               <C>

<CAPTION>
--------------------------------------------------------------------------
                               Special Event Categories (1)
              ------------------------------------------------------------
                   Modification     Specially Serviced       Bankruptcy
Distribution
    Date           #     Balance     #         Balance     #     Balance
--------------------------------------------------------------------------
<S>                <C>              <C>                    <C>

</TABLE>

(1)  Note: Modification, Specially Serviced & Bankruptcy Totals are Included in
     the Appropriate Delinquency Aging Category

                                                                    Page 8 of 24
<PAGE>

                    Banc of America Commercial Mortgage Inc.
                  Commercial Mortgage Pass Through Certificates
                                  Series 2006-2
[LOGO] LaSalle Bank
       ABN AMRO                                       Statement Date: 10-Jul-06
                                                      Payment Date:   10-Jul-06
                                                      Prior Payment:        N/A
                                                      Next Payment:   10-Aug-06
                                                      Record Date:    30-Jun-06

                                 ABN AMRO Acct:

          Asset-Backed Facts ~ 15 Month Historical Payoff/Loss Summary

<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------------------------------------
                   Ending Pool (1)            Payoffs (2)              Penalties           Appraisal Reduct. (2)
Distribution
    Date        #             Balance    #             Balance    #             Amount     #             Balance
--------------------------------------------------------------------------------------------------------------------
<S>             <C>                      <C>                      <C>                      <C>

<CAPTION>
------------------------------------------------------------------------------------------------------------
                   Liquidations (2)       Realized Losses (2)      Remaining Term       Curr Weighted Avg.
Distribution
    Date        #             Balance    #             Amount      Life                 Coupon       Remit
------------------------------------------------------------------------------------------------------------
<S>             <C>                      <C>                       <C>                  <C>

</TABLE>

                                                                    Page 9 of 24
<PAGE>

                    Banc of America Commercial Mortgage Inc.
                  Commercial Mortgage Pass Through Certificates
                                  Series 2006-2
[LOGO] LaSalle Bank
       ABN AMRO                                       Statement Date: 10-Jul-06
                                                      Payment Date:   10-Jul-06
                                                      Prior Payment:        N/A
                                                      Next Payment:   10-Aug-06
                                                      Record Date:    30-Jun-06

                                 ABN AMRO Acct:

                          Mortgage Loan Characteristics

                       Distribution of Principal Balances

<TABLE>
<CAPTION>
                                                                     Weighted Average
      Current Scheduled          # of    Scheduled    % of      ------------------------
           Balances              Loans    Balance    Balance    Term   Coupon   PFY DSCR
------------------------------   -----   ---------   -------    ----   ------  ---------
<S>                              <C>     <C>         <C>        <C>    <C>     <C>

------------------------------   -----   ---------   -------    ----   ------  ---------
                                     0           0      0.00%
------------------------------   -----   ---------   -------    ----   ------  ---------
Average Scheduled Balance                        0
Maximum Scheduled Balance           (9,999,999,999)
Minimum Scheduled Balance            9,999,999,999
</TABLE>

                Distribution of Remaining Term (Fully Amortizing)

<TABLE>
<CAPTION>
                                                                     Weighted Average
       Fully Amortizing          # of    Scheduled    % of      ------------------------
        Mortgage Loans           Loans    Balance    Balance    Term   Coupon   PFY DSCR
------------------------------   -----   ---------   -------    ----   ------  ---------
<S>                              <C>     <C>         <C>        <C>    <C>     <C>

------------------------------   -----   ---------   -------    ----   ------  ---------
                                     0           0      0.00%
------------------------------   -----   ---------   -------    ----   ------  ---------
</TABLE>

                     Distribution of Mortgage Interest Rates

<TABLE>
<CAPTION>
                                                                     Weighted Average
       Current Mortgage          # of    Scheduled   % of       ------------------------
        Interest Rate            Loans   Balance     Balance    Term   Coupon   PFY DSCR
------------------------------   -----   ---------   -------    ----   ------  ---------
<S>                              <C>     <C>         <C>        <C>    <C>     <C>

------------------------------   -----   ---------   -------    ----   ------  ---------
                                     0           0      0.00%
------------------------------   -----   ---------   -------    ----   ------  ---------
Minimum Mortgage Interest Rate          99,900.000%
Maximum Mortgage Interest Rate          99,900.000%
</TABLE>

                    Distribution of Remaining Term (Balloon)

<TABLE>
<CAPTION>
                                                                     Weighted Average
           Balloon               # of    Scheduled    % of      ------------------------
        Mortgage Loans           Loans    Balance    Balance    Term   Coupon   PFY DSCR
------------------------------   -----   ---------   -------    ----   ------  ---------
<S>                              <C>     <C>         <C>        <C>    <C>     <C>

------------------------------   -----   ---------   -------    ----   ------  ---------
                                     0           0      0.00%
------------------------------   -----   ---------   -------    ----   ------  ---------
</TABLE>

                                                                   Page 10 of 24
<PAGE>

                    Banc of America Commercial Mortgage Inc.
                  Commercial Mortgage Pass Through Certificates
                                  Series 2006-2
[LOGO] LaSalle Bank
       ABN AMRO                                       Statement Date: 10-Jul-06
                                                      Payment Date:   10-Jul-06
                                                      Prior Payment:        N/A
                                                      Next Payment:   10-Aug-06
                                                      Record Date:    30-Jun-06

                                 ABN AMRO Acct:

                          Mortgage Loan Characteristics

                           Distribution of DSCR (PFY)
<TABLE>
<CAPTION>
        Debt Service            # of    Scheduled    % of
       Coverage Ratio           Loans    Balance    Balance    WAMM   WAC   PFY DSCR
-----------------------------   -----   ---------   -------    ----   ---   --------
<S>                             <C>     <C>         <C>        <C>    <C>   <C>

-----------------------------   -----   ---------   -------    ----   ---   --------
                                    0           0      0.00%
-----------------------------   -----   ---------   -------    ----   ---   --------
Maximum DSCR            0.000
Minimum DSCR            0.000
</TABLE>

                          Distribution of DSCR (Cutoff)
<TABLE>
<CAPTION>
        Debt Service            # of    Scheduled    % of
       Coverage Ratio           Loans    Balance    Balance    WAMM   WAC   PFY DSCR
-----------------------------   -----   ---------   -------    ----   ---   --------
<S>                             <C>     <C>         <C>        <C>    <C>   <C>

-----------------------------   -----   ---------   -------    ----   ---   --------
                                    0           0      0.00%
-----------------------------   -----   ---------   -------    ----   ---   --------
Maximum DSCR            0.000
Minimum DSCR            0.000
</TABLE>

                             Geographic Distribution
<TABLE>
<CAPTION>
         Geographic             # of    Scheduled    % of
          Location              Loans    Balance    Balance    WAMM   WAC   PFY DSCR
-----------------------------   -----   ---------   -------    ----   ---   --- ----
<S>                             <C>     <C>         <C>        <C>    <C>   <C>

-----------------------------   -----   ---------   -------    ----   ---   --------
                                    0                  0.00%
-----------------------------   -----   ---------   -------    ----   ---   --------
</TABLE>

                                                                   Page 11 of 24
<PAGE>

                    Banc of America Commercial Mortgage Inc.
                  Commercial Mortgage Pass Through Certificates
                                  Series 2006-2
[LOGO] LaSalle Bank
       ABN AMRO                                       Statement Date: 10-Jul-06
                                                      Payment Date:   10-Jul-06
                                                      Prior Payment:        N/A
                                                      Next Payment:   10-Aug-06
                                                      Record Date:    30-Jun-06

                                 ABN AMRO Acct:

                          Mortgage Loan Characteristics

                         Distribution of Property Types
<TABLE>
<CAPTION>
                                # of    Scheduled    % of
       Property Types           Loans    Balance    Balance    WAMM   WAC   PFY DSCR
-----------------------------   -----   ---------   -------    ----   ---   --------
<S>                             <C>     <C>         <C>        <C>    <C>   <C>

-----------------------------   -----   ---------   -------    ----   ---   --------
                                    0           0      0.00%
-----------------------------   -----   ---------   -------    ----   ---   --------
</TABLE>

                        Distribution of Amortization Type
<TABLE>
<CAPTION>
                                # of    Scheduled    % of
     Amortization Type          Loans    Balance    Balance    WAMM   WAC   PFY DSCR
-----------------------------   -----   ---------   -------    ----   ---   --------
<S>                             <C>     <C>         <C>        <C>    <C>   <C>

-----------------------------   -----   ---------   -------    ----   ---   --------
                                    0           0      0.00%
-----------------------------   -----   ---------   -------    ----   ---   --------
</TABLE>

                         Distribution of Loan Seasoning
<TABLE>
<CAPTION>
                                # of    Scheduled    % of
       Number of Months         Loans    Balance    Balance    WAMM   WAC   PFY DSCR
-----------------------------   -----   ---------   -------    ----   ---   --------
<S>                             <C>     <C>         <C>        <C>    <C>   <C>

-----------------------------   -----   ---------   -------    ----   ---   --------
                                    0           0      0.00%
-----------------------------   -----   ---------   -------    ----   ---   --------
</TABLE>

                       Distribution of Year Loans Maturing
<TABLE>
<CAPTION>
                                # of    Scheduled    % of
            Year                Loans    Balance    Balance    WAMM   WAC   PFY DSCR
-----------------------------   -----   ---------   -------    ----   ---   --------
<S>                             <C>     <C>         <C>        <C>    <C>   <C>
            2006                    0           0      0.00%      0   0.00%   0.00
            2007                    0           0      0.00%      0   0.00%   0.00
            2008                    0           0      0.00%      0   0.00%   0.00
            2009                    0           0      0.00%      0   0.00%   0.00
            2010                    0           0      0.00%      0   0.00%   0.00
            2011                    0           0      0.00%      0   0.00%   0.00
            2012                    0           0      0.00%      0   0.00%   0.00
            2013                    0           0      0.00%      0   0.00%   0.00
            2014                    0           0      0.00%      0   0.00%   0.00
            2015                    0           0      0.00%      0   0.00%   0.00
            2016                    0           0      0.00%      0   0.00%   0.00
       2017 & Greater               0           0      0.00%      0   0.00%   0.00
-----------------------------   -----   ---------   -------    ----   ---   --------
                                    0           0      0.00%
-----------------------------   -----   ---------   -------    ----   ---   --------
</TABLE>

                                                                   Page 12 of 24
<PAGE>

                    Banc of America Commercial Mortgage Inc.
                  Commercial Mortgage Pass Through Certificates
                                  Series 2006-2
[LOGO] LaSalle Bank
       ABN AMRO                                       Statement Date: 10-Jul-06
                                                      Payment Date:   10-Jul-06
                                                      Prior Payment:        N/A
                                                      Next Payment:   10-Aug-06
                                                      Record Date:    30-Jun-06

                                 ABN AMRO Acct:

                             Delinquent Loan Detail

<TABLE>
<CAPTION>
                Paid                 Outstanding   Out. Property                        Special
 Disclosure     Thru   Current P&I       P&I        Protection       Loan Status        Servicer      Foreclosure   Bankruptcy   REO
  Control #     Date     Advance     Advances**      Advances          Code (1)      Transfer Date      Date          Date      Date
-------------   ----   -----------   -----------   -------------   ---------------   -------------   -----------   ----------   ----
<S>             <C>    <C>           <C>           <C>             <C>               <C>             <C>           <C>          <C>

Total
</TABLE>

A.    In Grace Period

B.    Late Payment but < 1 month delinq

1.    Delinq. 1 month

2.    Delinq. 2 month

3.    Delinquent 3 + months

4.    Performing Matured Balloon

5.    Non Performing Matured Balloon

7.    Foreclosure

9.    REO

**    Outstanding P&I Advances include the current period P&I Advances and
      include Servicer and Trust Advances.

                                                                   Page 13 of 24

<PAGE>

                    Banc of America Commercial Mortgage Inc.
                  Commercial Mortgage Pass Through Certificates
                                  Series 2006-2
[LOGO] LaSalle Bank
       ABN AMRO                                       Statement Date: 10-Jul-06
                                                      Payment Date:   10-Jul-06
                                                      Prior Payment:        N/A
                                                      Next Payment:   10-Aug-06
                                                      Record Date:    30-Jun-06

                                 ABN AMRO Acct:

                                Loan Level Detail

<TABLE>
<CAPTION>
                                                   Operating                Ending
Disclosure           Property   Maturity    PFY    Statement     Geo.      Principal   Note
Control #    Group     Type       Date     DSCR      Date      Location     Balance    Rate
----------   -----   --------   --------   ----    ---------   --------    ---------   ----
<S>          <C>     <C>        <C>        <C>     <C>         <C>         <C>         <C>

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

<CAPTION>
                                                      Loan
Disclosure   Scheduled   Prepayment    Prepayment    Status
Control #       P&I        Amount         Date       Code(1)
----------   ---------   ----------    ----------    -------
<S>          <C>         <C>           <C>           <C>

----------   ---------   ----------    ----------    -------
</TABLE>

*     NOI and DSCR, if available and reportable under the terms of the trust
      agreement, are based on information obtained from the related borrower,
      and no other party to the agreement shall be held liable for the accuracy
      or methodology used to determine such figures.

(1)   Legend:

A.    In Grace Period

B.    Late Payment but < one month delinq

1.    Delinquent 1 month

2.    Delinquent 2 month

3.    Delinquent 3+ month

4.    Performing Matured Balloon

5.    Non Performing Matured Ballon

7.    Foreclosure

9.    REO

                                                                   Page 14 of 24
<PAGE>

                    Banc of America Commercial Mortgage Inc.
                  Commercial Mortgage Pass Through Certificates
                                  Series 2006-2
[LOGO] LaSalle Bank
       ABN AMRO                                       Statement Date: 10-Jul-06
                                                      Payment Date:   10-Jul-06
                                                      Prior Payment:        N/A
                                                      Next Payment:   10-Aug-06
                                                      Record Date:    30-Jun-06

                                 ABN AMRO Acct:

                              Realized Loss Detail

<TABLE>
<CAPTION>
                                                                              Gross                                 Net
                                                                            Proceeds                             Proceeds
                                                       Beginning            as a % of   Aggregate       Net       as a %
                     Disclosure  Appraisal  Appraisal  Scheduled   Gross      Sched.   Liquidation  Liquidation  of Sched.  Realized
      Period         Control #     Date       Value     Balance   Proceeds   Balance   Expenses *    Proceeds     Balance     Loss
-------------------  ----------  ---------  ---------  ---------  --------  ---------  -----------  -----------  ---------  --------
<S>                  <C>         <C>        <C>        <C>        <C>       <C>        <C>          <C>          <C>        <C>

-------------------  ----------  ---------  ---------  ---------  --------  ---------  -----------  -----------  ---------  --------
Current Total
Cumulative
</TABLE>

*     Aggregate liquidation expenses also include outstanding P&I advances and
      unpaid servicing fees, unpaid trustee fees, etc.

                                                                   Page 15 of 24
<PAGE>

                    Banc of America Commercial Mortgage Inc.
                  Commercial Mortgage Pass Through Certificates
                                  Series 2006-2
[LOGO] LaSalle Bank
       ABN AMRO                                       Statement Date: 10-Jul-06
                                                      Payment Date:   10-Jul-06
                                                      Prior Payment:        N/A
                                                      Next Payment:   10-Aug-06
                                                      Record Date:    30-Jun-06

                                 ABN AMRO Acct:

                  Bond/Collateral Realized Loss Reconciliation

<TABLE>
<CAPTION>
                                                                                                                  Interest
                              Beginning                                                                          (Shortages)/
                            Balance of the       Aggregate     Prior Realized        Amounts Covered by        Excesses applied
Prospectus                     Loan at         Realized Loss   Loss Applied to    Overcollateralization          to Realized
    ID        Period         Liquidation         on Loans       Certificates         and other Credit               Losses
                                                                      A                      B                        C
====================================================================================================================================
<S>           <C>           <C>                <C>             <C>                <C>                          <C>
Cumulative

<CAPTION>

                                               Additional                                                          (Recoveries)/
                     Modification             (Recoveries)/                                   Recoveries of        Realized Loss
Prospectus      Adjustments/Appraisal     Expenses applied to      Current Realized Loss      Realized Losses        Applied to
    ID           Reduction Adjustment       Realized Losses      Applied to Certificates*     paid as Cash     Certificate Interest
                          D                        E
====================================================================================================================================
<S>             <C>                       <C>                    <C>                          <C>              <C>
Cumulative

</TABLE>

*In the Initial Period the Current Realized Loss Applied to Certificates will
equal Aggregate Realized Loss on Loans - B - C - D + E instead of A - C - D + E

Description of Fields
---------------------

          A                 Prior Realized Loss Applied to Certificates

          B                 Reduction to Realized Loss applied to bonds (could
                            represent OC, insurance policies, reserve accounts,
                            etc)

          C                 Amounts classified by the Master as interest
                            adjustments from general collections on a loan with
                            a Realized Loss

          D                 Adjustments that are based on principal haircut or
                            future interest foregone due to modification

          E                 Realized Loss Adjustments, Supplemental Recoveries
                            or Expenses on a previously liquidated loan

                                                                   Page 16 of 24
<PAGE>

                    Banc of America Commercial Mortgage Inc.
                  Commercial Mortgage Pass Through Certificates
                                  Series 2006-2
[LOGO] LaSalle Bank
       ABN AMRO                                       Statement Date: 10-Jul-06
                                                      Payment Date:   10-Jul-06
                                                      Prior Payment:        N/A
                                                      Next Payment:   10-Aug-06
                                                      Record Date:    30-Jun-06

                                 ABN AMRO Acct:

                           Appraisal Reduction Detail

<TABLE>
<CAPTION>

                                                                                 Remaining Term
 Disclosure    Appraisal  Scheduled    AR    Current P&I        Note  Maturity  ----------------  Property  Geographic
  Control #    Red. Date   Balance   Amount    Advance    ASER  Rate    Date     Life               Type     Location
-------------  ---------  ---------  ------  -----------  ----  ----  --------  ------  --------  --------  ----------
<S>            <C>        <C>        <C>     <C>          <C>   <C>   <C>       <C>     <C>       <C>       <C>

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

<CAPTION>

                      Appraisal
 Disclosure          -----------
  Control #    DSCR  Value  Date
-------------  ----  -----  ----
<S>            <C>   <C>    <C>

-------------  ----  -----  ----
</TABLE>

                                                                   Page 17 of 24
<PAGE>

                    Banc of America Commercial Mortgage Inc.
                  Commercial Mortgage Pass Through Certificates
                                  Series 2006-2
[LOGO] LaSalle Bank
       ABN AMRO                                       Statement Date: 10-Jul-06
                                                      Payment Date:   10-Jul-06
                                                      Prior Payment:        N/A
                                                      Next Payment:   10-Aug-06
                                                      Record Date:    30-Jun-06

                                 ABN AMRO Acct:

              Material Breaches and Material Document Defect Detail

<TABLE>
<CAPTION>
--------------------------------------------------     --------------------------------------------------------
                    Ending           Material
Disclosure         Principal          Breach                Material Breach and Material Document Defect
Control #           Balance            Date                                  Description
--------------------------------------------------     --------------------------------------------------------
<S>                <C>               <C>                    <C>

--------------------------------------------------     --------------------------------------------------------
</TABLE>

Material breaches of pool asset representation or warranties or transaction
covenants.

                                                                   Page 18 of 24
<PAGE>

                    Banc of America Commercial Mortgage Inc.
                  Commercial Mortgage Pass Through Certificates
                                  Series 2006-2
[LOGO] LaSalle Bank
       ABN AMRO                                       Statement Date: 10-Jul-06
                                                      Payment Date:   10-Jul-06
                                                      Prior Payment:        N/A
                                                      Next Payment:   10-Aug-06
                                                      Record Date:    30-Jun-06

                                 ABN AMRO Acct:

                  Historical Collateral Level Prepayment Report

<TABLE>
<CAPTION>

--------------------------  ----------------------------------------------------------------- ------------------
Disclosure       Payoff           Initial                        Payoff          Penalty        Prepayment
Control #        Period           Balance          Type          Amount           Amount           Date

--------------------------  ----------------------------------------------------------------- ------------------
<S>              <C>              <C>              <C>           <C>             <C>            <C>

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

<CAPTION>

--------------------------  --------------------------------------------
Disclosure       Maturity           Property            Geographic
Control #          Date               Type               Location

--------------------------  --------------------------------------------
<S>              <C>                <C>                 <C>

--------------------------  --------------------------------------------
                                                       ---------------------------------
                                      Current
                                      Cumulative
                                                       ---------------------------------
</TABLE>

                                                                   Page 19 of 24

<PAGE>

                    Banc of America Commercial Mortgage Inc.
                  Commercial Mortgage Pass Through Certificates
                                  Series 2006-2
[LOGO] LaSalle Bank
       ABN AMRO                                       Statement Date: 10-Jul-06
                                                      Payment Date:   10-Jul-06
                                                      Prior Payment:        N/A
                                                      Next Payment:   10-Aug-06
                                                      Record Date:    30-Jun-06

                                 ABN AMRO Acct:

           Specially Serviced (Part I) ~ Loan Detail (End of Period)

<TABLE>
<CAPTION>
----------  ---------  --------  ------------------  -------------------------------  ------------------  ---------------
                         Loan          Balance                       Remaining Term
Disclosure  Servicing   Status   ------------------  Note  Maturity  ---------------  Property    Geo.               NOI
 Control #  Xfer Date  Code (1)  Scheduled   Actual  Rate    Date    Life               Type    Location  NOI  DSCR  Date
----------  ---------  --------  ---------   ------  ----  --------  ---------------  --------  --------  ---  ----  ----
<S>         <C>        <C>       <C>         <C>     <C>   <C>       <C>      <C>     <C>        <C>      <C>  <C>   <C>

-------------------------------  ------------------  -------------------------------  ------------------  ---------------
</TABLE>

(1) Legend:       A. P&I Adv - in Grace Period
                  B. P&I Adv - < one month delinq
                  1. P&I Adv - delinquent 1 month
                  2. P&I Adv - delinquent 2 months
                  3. P&I Adv - delinquent 3+ months
                  4. Mat. Balloon/Assumed P&I
                  5. Non Performing Mat. Balloon
                  7. Foreclosure
                  9. REO

                                                                   Page 20 of 24
<PAGE>

                    Banc of America Commercial Mortgage Inc.
                  Commercial Mortgage Pass Through Certificates
                                  Series 2006-2
[LOGO] LaSalle Bank
       ABN AMRO                                       Statement Date: 10-Jul-06
                                                      Payment Date:   10-Jul-06
                                                      Prior Payment:        N/A
                                                      Next Payment:   10-Aug-06
                                                      Record Date:    30-Jun-06

                                 ABN AMRO Acct:

  Specially Serviced Loan Detail (Part II) ~ Servicer Comments (End of Period)

-----------------------   ------------------------------------------------------
Disclosure   Resolution
Control #     Strategy                           Comments
----------   ----------   ------------------------------------------------------

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

                                                                   Page 21 of 24
<PAGE>

                    Banc of America Commercial Mortgage Inc.
                  Commercial Mortgage Pass Through Certificates
                                  Series 2006-2
[LOGO] LaSalle Bank
       ABN AMRO                                       Statement Date: 10-Jul-06
                                                      Payment Date:   10-Jul-06
                                                      Prior Payment:        N/A
                                                      Next Payment:   10-Aug-06
                                                      Record Date:    30-Jun-06

                                 ABN AMRO Acct:

                           Maturity Extension Summary

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

Loans which have had their Maturity Dates extended
      Number of Loans:                                                     0
      Stated Principal Balance outstanding:                             0.00
      Weighted Average Extension Period:                                   0

Loans in the process of having their Maturity Dates extended
      Number of Loans:                                                     0
      Stated Principal Balance outstanding:                             0.00
      Weighted Average Extension Period:                                   0

Loans in the process of having their Maturity Dates further extended
      Number of Loans:                                                     0
      Cutoff Principal Balance                                          0.00
      Weighted Average Extension Period:                                   0

Loans paid-off that did experience Maturity Date extensions
      Number of Loans:                                                     0
      Cutoff Principal Balance                                          0.00
      Weighted Average Extension Period:                                   0

Loans paid-off that did not experience Maturity Date extensions
      Number of Loans:                                                     0
      Cutoff Principal Balance                                          0.00

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

                                                                   Page 22 of 24
<PAGE>

                    Banc of America Commercial Mortgage Inc.
                  Commercial Mortgage Pass Through Certificates
                                  Series 2006-2
[LOGO] LaSalle Bank
       ABN AMRO                                       Statement Date: 10-Jul-06
                                                      Payment Date:   10-Jul-06
                                                      Prior Payment:        N/A
                                                      Next Payment:   10-Aug-06
                                                      Record Date:    30-Jun-06

                                 ABN AMRO Acct:

                               Rating Information

<TABLE>
<CAPTION>
------------------  -------------------------------------  -------------------------------------
                             Original Ratings                    Rating Change/Change Date(1)

Class       CUSIP      Fitch        Moody's       S&P         Fitch        Moody's       S&P
--------  --------  -----------  ------------  ----------  -----------  ------------  ----------
<S>       <C>       <C>          <C>           <C>         <C>          <C>           <C>

------------------  -------------------------------------  -------------------------------------
</TABLE>

NR - Designates that the class was not rated by the rating agency.

(1) Changed ratings provided on this report are based on information provided by
the applicable rating agency via electronic transmission. It shall be understood
that this transmission will generally have been provided to LaSalle within 30
days of the payment date listed on this statement. Because ratings may have
changed during the 30 day window, or may not be being provided by the rating
agency in an electronic format and therefore not being updated on this report,
LaSalle recommends that investors obtain current rating information directly
from the rating agency.

                                                                   Page 23 of 24
<PAGE>

                    Banc of America Commercial Mortgage Inc.
                  Commercial Mortgage Pass Through Certificates
                                  Series 2006-2
[LOGO] LaSalle Bank
       ABN AMRO                                       Statement Date: 10-Jul-06
                                                      Payment Date:   10-Jul-06
                                                      Prior Payment:        N/A
                                                      Next Payment:   10-Aug-06
                                                      Record Date:    30-Jun-06

                                 ABN AMRO Acct:

                                     Legend

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

Until this statement/report is filed with the Commission with respect to the
Trust pursuant to Section 15(d) of the Securities Exchange Act of 1934, as
amended, the recipient hereof shall be deemed to keep the information contained
herein confidential and such information will not, without the prior consent of
the Master Servicer or the Trustee, be disclosed by such recipient or by its
officers, directors, partners, employees, agents or representatives in any
manner whatsoever, in whole or in part.

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

                                                                   Page 24 of 24

<PAGE>

                                    EXHIBIT H

                           FORM OF REQUEST FOR REVIEW

                                                   __________________, 20_____

LaSalle Bank National Association
135 South LaSalle Street, Suite 1625
Chicago, Illinois 60603
Attn: Global Securities & Trust Services - Banc of America Commercial Mortgage
      Inc. Commercial Mortgage Pass-Through Certificates, Series 2006-2

      Re:   Pooling and Servicing Agreement dated as of June 1, 2006 (the
            "Agreement") by and among Banc of America Commercial Mortgage Inc.,
            as Depositor, Bank of America, N.A., as Master Servicer, LNR
            Partners, Inc., as Special Servicer and LaSalle Bank National
            Association, as Trustee and REMIC Administrator for the
            Certificateholders of Commercial Mortgage Pass-Through Certificates,
            Series 2006-2
            --------------------------------------------------------------------

Ladies and Gentlemen:

            Pursuant to Section 2.02(b) of the above referenced Agreement,
[_________________] requests a review of the following Mortgage file:

            Property Name:
                          -------------------------------------------------

            Property Address:
                              ---------------------------------------------

            Loan Number :
                              ---------------------------------------------

            The results of such review should be returned to [______________] at
the following address:

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

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

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

            Phone:
                   -------------------------
            Fax:
                 ---------------------------

<PAGE>
                                   EXHIBIT I

                FORM OF NOTICE REGARDING PURCHASE OPTION EXERCISE

                         [Letterhead of Master Servicer]

                                     [Date]

[Option Holder]

      Re:   Banc of America Commercial Mortgage Inc. Commercial Mortgage
            Pass-Through Certificates, Series 2006-2
            -------------------------------------------------------------

Ladies and Gentlemen:

            You are the holder of an assignable option (the "Purchase Option")
to purchase Mortgage Loan number ____ from the Trust Fund, pursuant to Section
3.18 of the pooling and servicing agreement (the "Pooling and Servicing
Agreement") dated as of June 1, 2006, by and among Banc of America Commercial
Mortgage Inc., as depositor, Bank of America, N.A., as Master Servicer, LNR
Partners, Inc., as Special Servicer and LaSalle Bank National Association, as
Trustee and REMIC Administrator. Capitalized terms used herein and not otherwise
defined shall have the meaning set forth in the Pooling and Servicing Agreement.

            This notice is to inform you that the exercise of your Purchase
Option in respect of Mortgage Loan number ___, pursuant to your Purchase Option
Notice dated _________, a copy of which is attached hereto, is effective.
Pursuant to Section 3.18(d) of the Pooling and Servicing Agreement and your
Purchase Option Notice, closing of [your] [_________'s] acquisition of Mortgage
Loan number ___ shall occur within ten (10) Business Days of your receipt of
this notice, at the place and in the manner described below.

            [Describe closing mechanics. Describe documents or instruments
required to be prepared by Option Holder in connection with assignment and
release of the related Mortgage Loan.]

            Upon payment of the Option Price, Mortgage Loan number ___ and the
related Mortgaged Property will be released and the related Mortgage Loan File
will be delivered to [you] [__________] or at [your] [_________'s] direction.

            Drafts of such instruments of transfer or assignment, in each case
without recourse, reasonably necessary to vest in [you] or [________] the
ownership of Mortgage Loan ____, together with [describe other documents or
instruments reasonably required to consummate the purchase] should be delivered
to [____________] for review as soon as is practicable.

            [Provide Master Servicer contact information.]

            Please acknowledge receipt of this letter by signing the enclosed
copy and return it to my attention.

                                       Sincerely,

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

Option Holder's Acknowledgment

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

<PAGE>

                                    EXHIBIT J

                                     FORM OF
                            NOTICE AND CERTIFICATION
                      REGARDING DEFEASANCE OF MORTGAGE LOAN

 For any loan that is not among ten (10) largest loans in pool, and that has an
        outstanding balance less than both (a) $20,000,000 and (b) 5% of
                            outstanding pool balance

To:   Standard & Poor's Ratings Services
      55 Water Street
      New York, New York  10041
      Attn:  Commercial Mortgage Surveillance

From: Bank of America, N.A., in its capacity as Master Servicer (the "Master
      Servicer") under the Pooling and Servicing Agreement dated as of June 1,
      2006 (the "Pooling and Servicing Agreement"), among the Master Servicer,
      LNR Partners, Inc., as Special Servicer and LaSalle Bank National
      Association, as Trustee and REMIC Administrator.

Date: _________, 20___

Re:   Banc of America Commercial Mortgage Inc.
      Commercial Mortgage Pass-Through
      Certificates Series 2006-2

      Mortgage Loan (the "Mortgage Loan") identified by loan number _____ on the
      Mortgage Loan Schedule attached to the Pooling and Servicing Agreement and
      heretofore secured by the Mortgaged Properties identified on the Mortgage
      Loan Schedule by the following names:

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

            Reference is made to the Pooling and Servicing Agreement described
above. Capitalized terms used but not defined herein have the meanings assigned
to such terms in the Pooling and Servicing Agreement. [Note: all terms in this
Certification must be conformed to terms used in the Pooling and Servicing
Agreement]

            As Master Servicer under the Pooling and Servicing Agreement, we
hereby:

            (a) Notify you that the Mortgagor has consummated a defeasance of
      the Mortgage Loan pursuant to the terms of the Mortgage Loan, of the type
      checked below:

            ______a full defeasance of the entire principal balance of the
Mortgage Loan; or

            ______a partial defeasance of a portion of the principal balance of
the Mortgage Loan that represents and, an allocated loan amount of $____________
or _______% of the entire principal balance of the Mortgage Loan;

            (b) Certify that each of the following is true, subject to those
      exceptions set forth with explanatory notes on Exhibit A hereto, which
      exceptions the Master Servicer has determined, consistent with the
      Servicing Standard, will have no material adverse effect on the Mortgage
      Loan or the defeasance transaction:

                  (A) The Mortgage Loan Documents permit the defeasance, and the
            terms and conditions for defeasance specified therein were satisfied
            in all material respects in completing the defeasance.

                  (B) The defeasance was consummated on __________, 20__.

                  (C) The defeasance collateral consists of securities that (i)
            constitute "government securities" as defined in Section 2(a)(16) of
            the Investment Company Act of 1940 as amended (15 U.S.C. 80A1), (ii)
            are listed as "Qualified Investments for `AAA' Financings" under
            Paragraphs 1, 2 or 3 of "Cash Flow Approach" in Standard & Poor's
            Public Finance Criteria 2000, as amended to the date of the
            defeasance, (iii) are rated "AAA" by Standard & Poor's, (iv) if they
            include a principal obligation, the principal due at maturity cannot
            vary or change, and (v) are not subject to prepayment, call or early
            redemption.

                  (D) The Master Servicer received an opinion of counsel (from
            counsel approved by the Master Servicer in accordance with the
            Servicing Standard) that the defeasance will not result in an
            Adverse REMIC event.

                  (E) The Master Servicer determined that the defeasance
            collateral will be owned by an entity (the "Defeasance Obligor")
            that is a Single-Purpose Entity (as defined in Standard & Poor's
            Structured Finance Ratings Real Estate Finance Criteria, as amended
            to the date of the defeasance (the "S&P Criteria")) as of the date
            of the defeasance, and after the defeasance owns no assets other
            than the defeasance collateral and real property securing Mortgage
            Loans included in the pool.

                  (F) The Master Servicer received written confirmation of the
            crediting of the defeasance collateral to an Eligible Account (as
            defined in the S&P Criteria) in the name of the Defeasance Obligor,
            which account is maintained as a securities account by a securities
            intermediary and has been pledged to the Trustee.

                  (G) The agreements executed in connection with the defeasance
            (i) grant control of the pledged securities account to the trustee,
            (ii) require the securities intermediary to make the scheduled
            payments on the Mortgage Loan from the proceeds of the defeasance
            collateral directly to the Master Servicer's collection account in
            the amounts and on the dates specified in the Mortgage Loan
            Documents or, in a partial defeasance, the portion of such scheduled
            payments attributed to the allocated loan amount for the real
            property defeased, increased by any defeasance premium specified in
            the Mortgage Loan Documents (the "Scheduled Payments"), (iii) permit
            reinvestment of proceeds of the defeasance collateral only in
            Permitted Investments (as defined in the S&P Criteria), (iv) permit
            release of surplus defeasance collateral and earnings on
            reinvestment from the pledged securities account only after the
            Mortgage Loan has been paid in full, if any such release is
            permitted, (v) prohibit transfers by the Defeasance Obligor of the
            Defeasance Collateral and subordinate liens against the defeasance
            collateral, and (vi) provide for payment from sources other than the
            defeasance collateral or other assets of the Defeasance Obligor of
            all fees and expenses of the securities intermediary for
            administering the defeasance and the securities account and all fees
            and expenses of maintaining the existence of the Defeasance Obligor.

                  (H) The Master Servicer received written confirmation from a
            firm of independent certified public accountants, who were approved
            by the Master Servicer in accordance with the Servicing Standard
            stating that (i) revenues from the defeasance collateral (without
            taking into account any earnings on reinvestment of such revenues)
            will be sufficient to timely pay each of the Scheduled Payments
            after the defeasance including the payment in full of the Mortgage
            Loan (or the allocated portion thereof in connection with a partial
            defeasance) on its Maturity Date (or, in the case of an ARD Loan, on
            its Anticipated Repayment Date), (ii) the revenues received in any
            month from the defeasance collateral will be applied to make
            Scheduled Payments within four (4) months after the date of receipt,
            and (iii) interest income from the defeasance collateral to the
            Defeasance Obligor in any calendar or fiscal year will not exceed
            such Defeasance Obligor's interest expense for the Mortgage Loan (or
            the allocated portion thereof in a partial defeasance) for such
            year.

                  (I) The Mortgage Loan is not among the ten (10) largest loans
            in the pool. The entire principal balance of the Mortgage Loan as of
            the date of defeasance was less than both $20,000,000 and five
            percent of pool balance, which is less than 5% of the aggregate
            Certificate Balance of the Certificates as of the date of the most
            recent Paying Agent's Monthly Certificateholder Report received by
            us (the "Current Report").

                  (J) The defeasance described herein, together with all prior
            and simultaneous defeasances of Mortgage Loans, brings the total of
            all fully and partially defeased Mortgage Loans to
            $__________________, which is _____% of the Aggregate Certificate
            Balance of the Certificates as of the date of the Current Report.

            (c) Certify that Exhibit B hereto is a list of the material
      agreements, instruments, organizational documents for the Defeasance
      Obligor, and opinions of counsel and independent accountants executed and
      delivered in connection with the defeasance.

            (d) Certify that the individual under whose hand the Master Servicer
      has caused this Notice and Certification to be executed did constitute a
      Servicing Officer as of the date of the defeasance described above.

            (e) Agree to provide copies of all items listed in Exhibit B to you
      upon request.

<PAGE>

            IN WITNESS WHEREOF, the Master Servicer has caused this Notice and
Certification to be executed as of the date captioned above.

                                       BANK OF AMERICA, N.A.

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

<PAGE>

                                    EXHIBIT K

               FORM OF CERTIFICATION TO BE PROVIDED WITH FORM 10-K

                    Banc of America Commercial Mortgage Inc.
                  Commercial Mortgage Pass-Through Certificates
                           Series 2006-2 (the "Trust")

            I, [identify the certifying individual], certify that:

            (a) I have reviewed this annual report on Form 10-K, and all reports
      on Form 10-D required to be filed in respect of the period covered by this
      report on Form 10-K (the "Exchange Act Periodic Reports"), of the Trust
      formed pursuant to the Pooling and Servicing Agreement (the ("Pooling and
      Servicing Agreement") dated as of June 1, 2006 among Banc of America
      Commercial Mortgage Inc., as Depositor, Bank of America, N.A., as Master
      Servicer, LNR Partners, Inc., as Special Servicer and LaSalle Bank
      National Association, as Trustee and REMIC Administrator;

            (b) Based on my knowledge, the Exchange Act Periodic Reports, taken
      as a whole, do not contain any untrue statement of a material fact or omit
      to state a material fact necessary to make the statements made, in light
      of the circumstances under which such statements were made, not misleading
      as of the last day of the period covered by this annual report;

            (c) Based on my knowledge, all of the distribution, servicing and
      other information required to be provided under Form 10-D for the period
      covered by this report is included in Exchange Act Periodic Reports;

            (d) Based on my knowledge and the servicer compliance statements
      required in this report under Item 1123 of Regulation AB, and except as
      disclosed in the Exchange Act Periodic Report, the servicers have
      fulfilled their obligations under the pooling and servicing agreement;

            (e) All of the reports on assessment of compliance with servicing
      criteria for asset-backed securities and their related attestation reports
      on assessment of compliance with servicing criteria for asset-backed
      securities required to be included in this report in accordance with Item
      1122 of Regulation AB and Exchange Act Rules 13a-18 and 15d-18 have been
      included as an exhibit to this report, except as otherwise disclosed in
      this report. Any material instances of noncompliance described in such
      reports have been disclosed in this report on Form 10-K; and

            (f) I have disclosed to the Trust's certified public accountants all
      significant deficiencies relating to the Master Servicer's or Special
      Servicer's compliance with the minimum servicing standards in accordance
      with a review conducted in compliance with the Uniform Single Attestation
      Program for Mortgage Bankers or similar standard as set forth in the
      Pooling and Servicing Agreement.

            In giving the certifications above, I have reasonably relied on
information provided to me by the following unaffiliated parties: ________, as
Special Servicer, ________, as Trustee and REMIC Administrator, ________, as
Sub-Servicer, ________, and as Sub-Servicer, ________.

Date:
      -------------------------

-------------------------------
[Signature]
[Title]

<PAGE>

                                    EXHIBIT L

                           FORM OF CERTIFICATION TO BE
                              PROVIDED TO DEPOSITOR

      Re:   Banc of America Commercial Mortgage Trust 2006-2 (the "Trust"),
            Commercial Mortgage Pass-Through Certificates, Series 2006-2
            ---------------------------------------------------------------

            I, [identify the certifying individual], a[n] [title] of [identify
name of company] on behalf of [identify name of company], as [Trustee/Master
Servicer/Special Servicer] under that certain Pooling and Servicing Agreement
(the "Pooling and Servicing Agreement") dated as of June 1, 2006, among Banc of
America Commercial Mortgage Inc., as Depositor, Bank of America, N.A., as Master
Servicer, LNR Partners, Inc., as Special Servicer, and LaSalle Bank National
Association, as Trustee and REMIC Administrator certify to [identify the
individual signing the Sarbanes-Oxley Certification], the Depositor and its
partners, representatives, affiliates, members, managers, directors, officers,
employees and agents, to the extent that the following information is within our
normal area of responsibilities and duties under the Pooling and Servicing
Agreement, and with the knowledge and intent that they will rely upon this
certification, that:

            (a) [To be certified by the Trustee] [I have reviewed the
      information provided by the Master Servicer and Special Servicer for
      inclusion in the annual report on Form 10-K relating to the Trust for the
      fiscal year [___] (the "Annual Report"), and all reports provided for
      inclusion on Form 8-K containing statements to certificateholders filed in
      respect of periods included in the year covered by that Annual Report
      (collectively with the Annual Reports, the "Reports"), of the Trust;]

            (b) [To be certified by the Trustee] [To the best of my knowledge,
      the information in the Reports, to the extent prepared by the [Trustee]
      (but not including any information provided to the [Trustee] by the Master
      Servicer or Special Servicer, other than to the extent that such
      information has been aggregated or manipulated by [Trustee]), taken as a
      whole, does not contain any untrue statement of a material fact or omit to
      state a material fact necessary to make the statements made, in light of
      the circumstances under which such statements were made, not misleading as
      of the last day of the period covered by the Annual Report;]

            (c) [To be certified by the Trustee] [To the best of my knowledge,
      the distribution or servicing information required to be provided to the
      Trustee by the Master Servicer and the Special Servicer under the Pooling
      and Servicing Agreement for inclusion in the Reports is included in the
      Reports;]

            (d) [To be certified by the Master Servicer and Special Servicer]
      [Based on my knowledge, the servicing information required to be provided
      under Section 3.15 of the pooling and servicing agreement is included in
      such servicing reports delivered by the special servicer to the
      depositor;]

            (e) [To be certified by the Master Servicer and Special Servicer]
      [Based on my knowledge, the servicing information delivered by the special
      servicer to the Trustee for inclusion in the Reports, taken as a whole,
      does not contain any untrue statement of a material fact or omit to state
      a material fact necessary to make the statements made, in light of the
      circumstances under which such statements were made, not misleading with
      respect to the period covered by such Reports;]

            (f) [To be certified by the Master Servicer and Special Servicer] [I
      am responsible for reviewing the activities performed by the special
      servicer under the pooling and servicing agreement and based upon my
      knowledge and the annual compliance reviews conducted in preparing the
      servicer compliance statements required in such reports under Item 1123 of
      Regulation AB with respect to the special servicer, and except as
      disclosed in the compliance certificate delivered by the special servicer
      under Section 11.09 of the pooling and servicing agreement, the special
      servicer has fulfilled its obligations under the pooling and servicing
      agreement in all material respects;]

            (g) [To be certified by the Master Servicer and Special Servicer]
      [The accountant's statement delivered pursuant to Section 11.11 of the
      pooling and servicing agreement discloses all significant deficiencies
      relating to the special servicer's compliance with the minimum servicing
      standards based upon the report provided by an independent public
      accountant, after conducting a review in compliance with the Uniform
      Single Attestation Program for Mortgage Bankers or similar procedure, as
      set forth in the pooling and servicing agreement;]

            (h) [To be certified by the Master Servicer and Special Servicer] [I
      am responsible for reviewing the activities performed by [the Master
      Servicer] [the Special Servicer] under the Pooling and Servicing Agreement
      and based upon my knowledge and the annual compliance review required
      under the Pooling and Servicing Agreement, and except as disclosed in the
      annual report on Form 10-K for the fiscal year [___], or in any reports on
      Form 8-K containing statements to certificateholders filed in respect of
      periods included in the year covered by that annual report, [the Master
      Servicer] [the Special Servicer] has fulfilled its obligations under the
      Pooling and Servicing Agreement in all material respects, including the
      provision of all Reports required to be submitted to the Trustee
      thereunder, and that, to the knowledge of [the Master Servicer] [the
      Special Servicer], based upon the review required under the Pooling and
      Servicing Agreement with respect to [the Master Servicer] [the Special
      Servicer], such reports do not contain any material misstatements or
      omissions; and]

            (i) [To be certified by the Master Servicer and Special Servicer]
      [All of the reports on assessment of compliance with servicing criteria
      for asset-backed securities and their related attestation reports on
      assessment of compliance with servicing criteria for asset-backed
      securities with respect to the special servicer required to be delivered
      by the special servicer under the pooling and servicing agreement in
      accordance with Item 1122 of Regulation AB and Exchange Act Rules 13a-18
      and 15d-18 have been delivered pursuant to the terms of the pooling and
      servicing agreement. Any material instances of noncompliance with the
      servicing criteria have been disclosed in such reports.]

Date:
      -------------------------
[NAME OF COMPANY]

-------------------------------
[Signature]
[Title]

<PAGE>

                                    EXHIBIT M

                        FORM OF CONFIDENTIALITY AGREEMENT

                                     [Date]

Bank of America, N.A.
NC1-026-06-01
900 West Trade Street
Charlotte, North Carolina  28258
Attention: Banc of America Commercial Mortgage Inc., Commercial Mortgage
Pass-Through Certificates, Series 2006-2

      Re:   Information Regarding Banc of America Commercial Mortgage Inc.,
            Commercial Mortgage Pass-Through Certificates, Series 2006-2

Re: Ladies and Gentlemen:

            In connection with the Banc of America Commercial Mortgage Inc.,
Commercial Mortgage Pass-Through Certificates, Series 2006-2 (the
"Certificates"), we acknowledge that we will be furnished by the
[Servicer][Special Servicer] (and may have been previously furnished) with
certain information (the "Information"), provided by LaSalle Bank National
Association , as trustee (the "Trustee"), Banc of America Commercial Mortgage
Inc., as depositor (the "Depositor") and the borrowers under certain of the
Mortgage Loans. For the purposes of this letter agreement (this "Agreement"),
"Representative" of a Person refers to such Person's directors, officers,
employees, and agents; and "Person" refers to any individual, group or entity.

            In connection with and in consideration of our being provided with
Information, we hereby acknowledge and agree that we are requesting and will use
the Information solely for purposes of making investment decisions with respect
to the above-referenced Certificates and will not disclose such Information to
any other Person or entity unless required to do so by law; provided such
Information may be disclosed to the auditors and regulators of the undersigned
or to any person or entity that is contemplating the purchase of any Certificate
held by the undersigned or of an interest therein, but only if such person or
entity confirms in writing such contemplation of a prospective ownership
interest and agrees in writing to keep such Information confidential.

            This Agreement shall not apply to any of the Information which: (i)
is or becomes generally available and known to the public other than as a result
of a disclosure directly or indirectly by us or any of our Representatives; (ii)
becomes lawfully available to us on a non-confidential basis from a source other
than you or one of your Representatives, which source is not bound by a
contractual or other obligation of confidentiality to any Person; or (iii) was
lawfully known to us on a non-confidential basis prior to its disclosure to us
by you.

            Notwithstanding anything to the contrary contained herein, we (and
each of our employees, representative or other agents) may disclose to any and
all persons, without limitation of any kind, the federal income tax treatment
and tax structure of the above-referenced Certificates, any fact relevant to
understanding the federal tax treatment or tax structure of the above-referenced
Certificates, and all materials of any kind (including opinions or other tax
analysis) relating to such federal tax treatment or tax structure other than the
identity of the Depositor and information that would permit the identification
of the Depositor.

            Capitalized terms used but not defined herein shall have the meaning
assigned thereto in that certain Pooling and Servicing Agreement, dated as of
June 1, 2006, by and among the Depositor, the Trustee, Bank of America, N.A., as
Servicer (the "Servicer") and LNR Partners, Inc., as Special Servicer (the
"Special Servicer").

            The undersigned shall be fully liable for any breach of this
agreement by itself or any of its Representatives and shall indemnify the
Depositor, the Servicer, the Special Servicer, the Trustee and the Trust Fund
for any loss, liability or expense incurred thereby with respect to any such
breach by the undersigned or any of its Representatives.

            This Agreement, when signed by us, will constitute our agreement
with respect to the subject matter contained herein.

                                       Very truly yours,
                                          [NAME OF ENTITY]

                                       By:____________________________________
                                          Name:
                                          Title:

<PAGE>

                                    EXHIBIT N

                        FORM OF REGULATION S CERTIFICATE

LaSalle Bank National Association
135 South LaSalle Street, Suite 1625
Chicago, Illinois 60603
Attn: Global Securities & Trust Services - Banc of America Commercial Mortgage
      Inc. Commercial Mortgage Pass-Through Certificates, Series 2006-2

Re:   Transfer of Banc of America Commercial Mortgage Inc., Commercial Mortgage
      Pass-Through Certificates, Series 2006-2, Class [ ]
      -------------------------------------------------------------------------

Ladies and Gentlemen:

            Reference is made to the Pooling and Servicing Agreement, dated as
of June 1, 2006 (the "Pooling and Servicing Agreement"), by and among Banc of
America Commercial Mortgage Inc., as depositor (the "Depositor"), Bank of
America, N.A., as Master Servicer (the "Master Servicer"), LNR Partners, Inc.,
as Special Servicer (the "Special Servicer") and LaSalle Bank National
Association, as Trustee (the "Trustee"). Capitalized terms used but not defined
herein shall have the meanings ascribed to them in the Pooling and Servicing
Agreement.

            This letter relates to US $[__________] aggregate Certificate
Principal Amount of Certificates (the "Certificates") which are held in the form
of the Domestic Global Certificate (CUSIP No. ) with the Depository in the name
of [insert name of transferor] (the "Transferor"). The Transferor has requested
a transfer of such beneficial interest in the Certificates for an interest in
the Regulation S Global Certificate (ISIN No. ).

            In connection with such request, and in respect of such
Certificates, the Transferor does hereby certify that such transfer has been
effected in accordance with the transfer restrictions set forth in the Pooling
and Servicing Agreement and the Certificates and (i) with respect to transfers
made in accordance with Regulation S under the Securities Act of 1933, as
amended (the "Securities Act"), the Transferor does hereby certify that:

            (a) the offer of the Certificates was not made to a person in the
United States,

            [(b)__at the time the buy order was originated, the Transferee was
outside the United States or the Transferor and any person acting on its behalf
reasonably believed that the Transferee was outside the United States,]*

---------------
* Insert one of these two provisions, which come from the definition of
"offshore transaction" in Regulation S.

            [2.___the transaction was executed in, on or through the facilities
of a designated offshore securities market and neither the undersigned nor any
person acting on its behalf knows that the transaction was pre-arranged with a
buyer in the United States,]*

            (c)___no directed selling efforts have been made in contravention of
the requirements of Rule 903(b) or 904(b) of Regulation S, as applicable, and

            (d)___the transaction is not part of a plan or scheme to evade the
registration requirements of the Securities Act;

or (ii) with respect to transfers made in reliance on Rule 144 under the
Securities Act, the Transferor does hereby certify that the Certificates that
are being transferred are not "restricted securities" as defined in Rule 144
under the Securities Act.

            This certificate and the statements contained herein are made for
your benefit and the benefit of the Depositor, the Trustee, the Servicer and the
Special Servicer.

                                       [Insert Name of Transferor]

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

Dated:  _________ __, __

<PAGE>

                                    EXHIBIT O

                          FORM OF TRANSFER CERTIFICATE
                          FOR EXCHANGE OR TRANSFER FROM
                   DOMESTIC GLOBAL CERTIFICATE TO REGULATION S
                 GLOBAL CERTIFICATE DURING THE RESTRICTED PERIOD

                       (Exchanges or transfers pursuant to
             Section 5.02(d) of the Pooling and Servicing Agreement)

LaSalle Bank National Association
135 South LaSalle Street, Suite 1625
Chicago, Illinois 60603
Attn: Global Securities & Trust Services - Banc of America Commercial Mortgage
      Inc. Commercial Mortgage Pass-Through Certificates, Series 2006-2

Re:   Transfer of Banc of America Commercial Mortgage Inc., Commercial Mortgage
      Pass-Through Certificates, Series 2006-2, Class [ ]
      --------------------------------------------------------------------------

            Reference is hereby made to the Pooling and Servicing Agreement,
dated as of June 1, 2006 (the "Pooling and Servicing Agreement"), by and among
Banc of America Commercial Mortgage Inc., as depositor (the "Depositor"), Bank
of America, N.A., as Master Servicer (the "Master Servicer"), LNR Partners,
Inc., as Special Servicer (the "Special Servicer") and LaSalle Bank National
Association, as Trustee (the "Trustee"). Capitalized terms used but not defined
herein shall have the meanings given to them in the Pooling and Servicing
Agreement.

            This letter relates to US $[__________] aggregate Certificate
Principal Amount of Certificates (the "Certificates") which are held in the form
of the Domestic Global Certificate (CUSIP No. _____________) with the Depository
in the name of [insert name of transferor] (the "Transferor"). The Transferor
has requested a transfer of such beneficial interest for an interest in the
Regulation S Global Certificate (CUSIP No. ____________) to be held with
[Euroclear] [Clearstream]* (ISIN No. _____________) through the Depository.

            In connection with such request and in respect of such Certificates,
the Transferor does hereby certify that such transfer has been effected in
accordance with the transfer restrictions set forth in the Pooling and Servicing
Agreement and pursuant to and in accordance with Regulation S under the
Securities Act of 1933, as amended (the "Securities Act"), and accordingly the
Transferor does hereby certify that:

            (a) the offer of the Certificates was not made to a person in the
United States,

            [(b)__at the time the buy order was originated, the transferee was
outside the United States or the Transferor and any persons acting on its behalf
reasonably believed that the transferee was outside the United States,]**

            [2.___the transaction was executed in, on or through the facilities
of a designated offshore securities market and neither the Transferor nor any
person acting on its behalf knows that the transaction was prearranged with a
buyer in the United States,]

            (c) no directed selling efforts have been made in contravention of
the requirements of Rule 903(b) or 904(b) of Regulation S, as applicable, and

            (d) the transaction is not part of a plan or scheme to evade the
registration requirements of the Securities Act.

            This certificate and the statements contained herein are made for
your benefit and the benefit of the Depositor, the Trustee, the Servicer and the
Special Servicer.

                                       [Insert Name of Transferor]

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

Dated:  _____________, ___

--------------
* Insert one of these two provisions, which come from the definition of
"offshore transaction" in Regulation S.

<PAGE>

                                    EXHIBIT P

                          FORM OF TRANSFER CERTIFICATE
                     FOR EXCHANGE OR TRANSFER FROM DOMESTIC
                    GLOBAL CERTIFICATE TO REGULATION S GLOBAL
                     CERTIFICATE AFTER THE RESTRICTED PERIOD

                       (Exchange or transfers pursuant to
             Section 5.02(d) of the Pooling and Servicing Agreement)

LaSalle Bank National Association
135 South LaSalle Street, Suite 1625
Chicago, Illinois 60603
Attn: Global Securities & Trust Services - Banc of America Commercial Mortgage
      Inc. Commercial Mortgage Pass-Through Certificates, Series 2006-2

      Re:   Transfer of Banc of America Commercial Mortgage Inc., Commercial
            Mortgage Pass-Through Certificates, Series 2006-2, Class [ ]
            ----------------------------------------------------------------

            Reference is hereby made to the Pooling and Servicing Agreement,
dated as of June 1, 2006 (the "Pooling and Servicing Agreement"), by and among
Banc of America Commercial Mortgage Inc., as depositor (the "Depositor"), Bank
of America, N.A., as Master Servicer (the "Master Servicer"), LNR Partners,
Inc., as Special Servicer (the "Special Servicer") and LaSalle Bank National
Association, as Trustee (the "Trustee"). Capitalized terms used but not defined
herein shall have the meanings given to them in the Pooling and Servicing
Agreement.

            This letter relates to US $[__________] aggregate Certificate
Principal Amount of Certificates (the "Certificates") which are held in the form
of the Domestic Global Certificate (CUSIP No. _____) with the Depository in the
name of [insert name of transferor] (the "Transferor"). The Transferor has
requested a transfer of such beneficial interest in the Certificates for an
interest in the Regulation S Global Certificate (ISIN No. -----).

            In connection with such request, and in respect of such
Certificates, the Transferor does hereby certify that such transfer has been
effected in accordance with the transfer restrictions set forth in the Pooling
and Servicing Agreement and, (i) with respect to transfers made in reliance on
Regulation S under the Securities Act of 1933, as amended (the "Securities
Act"), the Transferor does hereby certify that:

            (a) the offer of the Certificates was not made to a person in the
United States,

            [(b) at the time the buy order was originated, the transferee was
outside the United States or the Transferor and any person acting on its behalf
reasonably believed that the transferee was outside the United States,]

            (c) the transaction was executed in, on or through the facilities of
a designated offshore securities market and neither the Transferor nor any
person acting on its behalf knows that the transaction was prearranged with a
buyer in the United States,]*

            (d) no directed selling efforts have been made in contravention of
the requirements of Rule 903(b) or 904(b) of Regulation S, as applicable, and

            (e) the transaction is not part of a plan or scheme to evade the
registration requirements of the Securities Act;

            or (ii) with respect to transfers made in reliance on Rule 144 under
the Securities Act, the Transferor does hereby certify that the Certificates
that are being transferred are not "restricted securities" as defined in Rule
144 under the Securities Act.

            This certificate and the statements contained herein are made for
your benefit and the benefit of the Depositor, the Trustee, the Servicer and the
Special Servicer.

                                       [Insert Name of Transferor]

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

Dated:      ____ __, ____

------------------------
** Insert one of these two provisions, which come from the definition of
"offshore transaction" in Regulation S.
<PAGE>

                                    EXHIBIT Q

                          FORM OF TRANSFER CERTIFICATE
                FOR EXCHANGE OR TRANSFER FROM REGULATION S GLOBAL
                   CERTIFICATE TO DOMESTIC GLOBAL CERTIFICATE

                       (Exchange or transfers pursuant to
             Section 5.02(d) of the Pooling and Servicing Agreement)

LaSalle Bank National Association
135 South LaSalle Street, Suite 1625
Chicago, Illinois 60603
Attn: Global Securities & Trust Services - Banc of America Commercial Mortgage
      Inc. Commercial Mortgage Pass-Through Certificates, Series 2006-2

      Re:   Transfer of Banc of America Commercial Mortgage Inc., Commercial
            Mortgage Pass-Through Certificates, Series 2006-2, Class [ ]
            ------------------------------------------------------------

            Reference is hereby made to the Pooling and Servicing Agreement,
dated as of June 1, 2006 (the "Pooling and Servicing Agreement"), by and among
Banc of America Commercial Mortgage Inc., as depositor (the "Depositor"), Bank
of America, N.A., as Master Servicer (the "Master Servicer"), LNR Partners,
Inc., as Special Servicer (the "Special Servicer") and LaSalle Bank National
Association, as Trustee (the "Trustee"). Capitalized terms used but not defined
herein shall have the meanings given to them in the Pooling and Servicing
Agreement.

            This letter relates to US $[__________] aggregate Certificate
Principal Amount of Certificates (the "Certificates") which are held in the form
of the Regulation S Global Certificate (CUSIP No. __________) with [Euroclear]
[Clearstream]* (ISIN No. __________) through the Depository in the name of
[insert name of transferor] (the "Transferor"). The Transferor has requested a
transfer of such beneficial interest in the Certificates for an interest in the
Domestic Global Certificate (CUSIP No. __________).

            In connection with such request, and in respect of such
Certificates, the Transferor does hereby certify that such Certificates are
being transferred in accordance with (i) the transfer restrictions set forth in
the Pooling and Servicing Agreement and (ii) Rule 144A under the Securities Act
to a transferee that the Transferor reasonably believes is purchasing the
Certificates for its own account with respect to which the transferee exercises
sole investment discretion and the transferee and any such account is a
"qualified institutional buyer" within the meaning of Rule 144A, in each case in
a transaction meeting the requirements of Rule 144A and in accordance with any
applicable securities laws of any state or other jurisdiction of the United
States.

            This certificate and the statements contained herein are made for
your benefit and the benefit of the Depositor, the Trustee, the Servicer, the
Special Servicer and Banc of America Securities LLC and Barclays Capital Inc.,
the Initial Purchasers of the offering of the Certificates.

                                       [Insert Name of Transferor]

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

Dated:      ____ __, ____

<PAGE>

                                   SCHEDULE I

                             Mortgage Loan Schedule

<TABLE>
<CAPTION>
Sequence    Loan Number    Loan Seller    Property Name
--------    -----------    -----------    ------------------------------------------------------
<S>         <C>            <C>            <C>
       1        3400002    BofA           181 West Madison Street
       2        3219704    BofA           Eastland Mall
       3          59264    BofA           Desert Passage

     4.1          59814    BofA           Carson Pirie Scott - Wilmette
     4.2          59814    BofA           Herberger's - Roseville
     4.3          59814    BofA           Younkers - Grandville
     4.4          59814    BofA           Carson Pirie Scott - Vernon Hills
     4.5          59814    BofA           Boston Store - Racine
     4.6          59814    BofA           Younkers - Des Moines
     4.7          59814    BofA           Herberger's - Saint Cloud
     4.8          59814    BofA           Carson Pirie Scott - West Dundee
     4.9          59814    BofA           Younkers - Duluth
     4.1          59814    BofA           Bergner's - Springfield
    4.11          59814    BofA           Younkers - West Des Moines
    4.12          59814    BofA           Younkers - Coralville
       4          59814    BofA           Bon-Ton Department Stores Portfolio (Rollup)

       5          59729    BofA           150 East 52nd Street

     6.1        45591-1    BSCMI          55 West 125th Street
     6.2        45591-2    BSCMI          215 West 125th Street
       6          45591    BSCMI          55 & 215 West 125th Street (Rollup)

       7        3400081    BofA           Faneuil Hall
       8        3400077    BofA           Savannah Marriott
       9          45806    BSCMI          Embassy Suites Chicago
      10          59816    BofA           Dominion Tower
      11          59603    BofA           Sports Club LA
      12          59711    BofA           2 Rockledge Centre
      13          59147    BofA           277 Park Avenue
      14        3219706    BofA           Valley Mall
      15          59807    BofA           Lakewood City Commons
      16       20061306    Barclays       The Glen Town Center
      17          17917    BofA           Peachtree Street Office
      18          59741    BofA           Belk Headquarters
      19       20051406    Barclays       The Biltmore
      20          58693    BofA           Laguna Gateway Phase II
      21          59736    BofA           Summit at Madison Park

    22.1          59666    BofA           Sherwood Apartments
    22.2          59666    BofA           Winding Wood Apartments
      22          59666    BofA           Sherwood Apartments & Winding Wood Apartments (Rollup)

      23          59820    BofA           The Junction
      24          44827    BSCMI          1151 Seven Locks Plaza
      25       20061403    Barclays       Nortel Networks Building

    26.1        45772-3    BSCMI          Brittany Retail Center
    26.2        45772-1    BSCMI          Normandie Village
    26.3        45772-2    BSCMI          Comotara Center
      26          45772    BSCMI          Wichita Retail Portfolio (Rollup)

    27.1        46147-3    BSCMI          Mayfair Village
    27.2        46147-1    BSCMI          Midland Plaza
    27.3        46147-2    BSCMI          Market Place
      27          46147    BSCMI          Oklahoma Retail Center Portfolio (Rollup)

      28       20061440    Barclays       Doubletree Hotel - Palm Beach Gardens
      29          59740    BofA           THQ Headquarters
      30          59570    BofA           Courtyard by Marriott Nashville
      31          59790    BofA           Northpointe Office Building
      32        3400063    BofA           East Lansing Marriott
      33          59760    BofA           Cooper House
      34          58608    BofA           Columbia Trails Apartments
      35          59724    BofA           Anaheim Desert Palms Hotel & Suites
      36          59779    BofA           361 Newbury Street
      37          46523    BSCMI          Lawndale Plaza
      38          58148    BofA           Twin City Town Center
      39       20061614    Barclays       Polos at Hudson Corners
      40          59727    BofA           Fortunoffs of Paramus
      41       20051493    Barclays       GSA - Milwaukee
      42          59664    BofA           Parkway Woods

    43.1          17801    BofA           Brookfield
    43.2          17801    BofA           Pelham at Hyland
      43          17801    BofA           Brookfield-Pelham (Rollup)

      44          59266    BofA           Falcon Gateway
      45          58607    BofA           Avalon Apartments
      46          59723    BofA           Anaheim Desert Inn & Suites
      47          59614    BofA           Heritage Marketplace
      48          44713    BSCMI          8600 Allisonville Road
      49          59083    BofA           Summerfield Crossings (9)
      50          59434    BofA           Ford - Princeton Park
      51          59668    BofA           North Broadway Plaza
      52          59749    BofA           841-853 Broadway
      53          46414    BSCMI          Manchester Run
      54          10289    BofA           Carib Villas
      55          59803    BofA           National Association of Letter Carriers Building
      56       20061601    Barclays       Gander Mountain-Minnesota
      57          59647    BofA           250 Park Avenue South
      58          59721    BofA           Myles Standish Plaza
      59       20061456    Barclays       Raymour & Flanigan - Middletown, NY
      60       20061411    Barclays       26211 Enterprise Way

      61          59781    BofA           Hoods Crossroads
      62          59782    BofA           Long Shoals
                                          Subtotal Crossed Loans

      63          17438    BofA           Freehold Business Park
      64          59748    BofA           160 East 84th Street
      65          17160    BofA           Gateway Retail Center
      66          59810    BofA           Point 360 Media Center
      67       20061362    Barclays       SpringHill Suites Sacramento Natomas
      68          17465    BofA           Arden Medical Office Building

    69.1          59649    BofA           Raymond Apartments - 1700 Hinman
    69.2          59649    BofA           Raymond Apartments - 1740 Hinman Ave
    69.3          59649    BofA           Raymond Apartments - 2114 Central Street
      69          59649    BofA           Raymond Apartments (Rollup)
      70          59648    BofA           Raymond - 222 Northfield Rd
                                          Subtotal Crossed Loans

      71          13139    BofA           Greenhouse Square
      72          43800    BSCMI          Riverglen Square

      73          17886    BofA           Solon Place Apartment Homes
      74          17890    BofA           Kaufman Place
                                          Subtotal Crossed Loans

      75       20051335    Barclays       Houston & Orchard Retail
      76          16072    BofA           Titan Facility
      77          17742    BofA           FedEx Warehouse Building
      78          14875    BofA           Parkway Medical Center
      79       20061602    Barclays       Gander Mountain-Illinois
      80       20061538    Barclays       Green Meadows
      81          14954    BofA           Eastland Communities

    82.1          59467    BofA           Manthey Road-Sterling - College Plaza
    82.2          59467    BofA           Manthey Road-Sterling - Manteca Plaza
    82.3          59467    BofA           Manthey Road-Sterling - Weston Ranch Pads
      82          59467    BofA           Manthey Road-Sterling (Rollup)

      83           9633    BofA           Chelsea Lane Apartments
      84          44743    BSCMI          Home Depot - Westminster
      85          17824    BofA           GE Warehouse Building
      86          17821    BofA           Donnelly Gardens
      87          59733    BofA           Crossroads - TJ Maxx

      88          59202    BofA           Marriott Residence Inn-Troy
      89          59203    BofA           Marriott Fairfield Inn Suites-Troy
                                          Subtotal Crossed Loans

      90          44462    BSCMI          NorthGate Shopping Center
      91       20061603    Barclays       Gander Mountain-Texas
      92          15779    BofA           River Oaks

    93.1        46162-2    BSCMI          Rite Aid Lynden
    93.2        46162-1    BSCMI          Rite Aid Atco
      93          46162    BSCMI          Rite Aid Atco & Rite Aid Lynden (Rollup)

      94       20061405    Barclays       Fed Ex Ground Packaging
      95          59352    BofA           100 Route 59
      96       20061253    Barclays       Holiday Inn Express Coralville
      97          59667    BofA           Bank of America at Avenue U
      98          59651    BofA           Walgreens - Dallas

      99          15830    BofA           Northway Shopping Center
     100          16734    BofA           Centro Cubano Shopping Center
                                          Subtotal Crossed Loans

     101          59642    BofA           Atlas Self Storage
     102          59778    BofA           Club at Lake Jackson Apartments
     103          59788    BofA           East Brooke Commons
     104          59705    BofA           Ridgewood Apartments
     105          59720    BofA           University Club Apartments
     106       20061604    Barclays       Gander Mountain-Wisconsin

   107.1       20061261    Barclays       Nostrand Avenue
   107.2       20061261    Barclays       University Avenue
   107.3       20061261    Barclays       Prospect Avenue
     107       20061261    Barclays       Brooklyn / Bronx Retail Portfolio (Rollup)

     108          16366    BofA           Cousteau Place
     109          15599    BofA           High Pointe 2
     110       20061346    Barclays       Fairfield Inn & Suites-Tifton
     111          14233    BofA           Broadway Festival Plaza
     112       20051522    Barclays       Everett Mall Mini Storage
     113          59732    BofA           Crossroads - Linens N Things
     114       20061304    Barclays       Paw Creek Crossing Shopping Center
     115          17207    BofA           Lockaway Storage-Riverside
     116          59734    BofA           Crossroads - Best Buy
     117          14898    BofA           Alico Storage
     118       20061523    Barclays       Manzanita Medical Plaza
     119       20051520    Barclays       Hampton Inn Tupelo
     120          16886    BofA           Emily Drive Retail
     121          44681    BSCMI          Pomona Industrial Center
     122          15908    BofA           Miramar Galleria
     123          59482    BofA           TGI Friday's Plaza
     124          59730    BofA           Crossroads - Staples
     125          17935    BofA           Regency Plaza Central Ave.
     126       20061509    Barclays       MOTM Self Storage Huntington
     127          16949    BofA           Venture Plaza Apartments
     128          16980    BofA           Cranberry Business Center
     129          14237    BofA           Archer and Central Plaza
     130          59731    BofA           Crossroads - PetSmart
     131       20051487    Barclays       Holiday Inn Express - Ft. Mill, SC
     132          59693    BofA           North Broadway Retail Center
     133          17989    BofA           Broadmoor Trotwood
     134       20061367    Barclays       Strack & Van Til

   135.1       20061327    Barclays       1153 TriView Avenue
   135.2       20061327    Barclays       1401 TriView Avnue
     135       20061327    Barclays       Jacobson Portfolio (Rollup)

     136          17648    BofA           North Wake Mini Storage
     137          17447    BofA           Sutton Street
     138          16300    BofA           Westgate Self Storage
     139       20061406    Barclays       DeVry University Center
     140       20051494    Barclays       North Pointe Apartments
     141          18072    BofA           Heathrow Center
     142       20061287    Barclays       Munhall Square II
     143          18045    BofA           National Storage Center-Vancouver
     144          59709    BofA           Gresham Mini Storage
     145       20051420    Barclays       Pleasant Townhomes
     146          16548    BofA           Thomas Grace Plaza
     147          17816    BofA           Clearwater Self Storage
     148          59656    BofA           West Park Apartments & Self-Storage
     149       20061288    Barclays       3530 Ellsworth Road
     150          16498    BofA           Windmill Center
     151          17997    BofA           Super Storage
     152          17505    BofA           University Woods Apartments
     153          17749    BofA           Novi Industrial
     154          17897    BofA           Secured Storage Vegas
     155          17750    BofA           Discount Mini Storage North
     156          16858    BofA           Kendall Square Mall
     157          17326    BofA           Oak Meadows Apartments
     158          14800    BofA           The Shops on Sedona Row
     159          17124    BofA           Suffolk Tower
     160          17779    BofA           Sovereign Bank-Newington
                                          Totals

<CAPTION>
Sequence   Street Address
--------   ----------------------------------------------------------------------------------------------------
<S>        <C>
       1   181 West Madison Street
       2   800 North Green River Road
       3   3663 Las Vegas Boulevard South

     4.1   3200 Lake Avenue
     4.2   600 Rosedale Shopping Center
     4.3   3668 Rivertown Parkway
     4.4   3 Hawthorne Center
     4.5   5500 Durand Avenue
     4.6   3800 Merle Hay Road
     4.7   600 West Saint Germain Street
     4.8   4000 Spring Hill Mall
     4.9   1600 Miller Trunk Highway
     4.1   2501 Wabash Avenue
    4.11   101 Jordan Creek Parkway
    4.12   1421 Coral Ridge Avenue
       4   Various

       5   150 East 52nd Street

     6.1   55 West 125th Street
     6.2   215 West 125th Street
       6   Various

       7   4 South Market Building
       8   100 General McIntosh Boulevard
       9   600 North State Street
      10   999 Waterside Drive
      11   1835 South Sepulveda Boulevard
      12   6701 Rockledge Drive
      13   277 Park Avenue
      14   1925 East Market Street
      15   355-489 South Wadsworth Boulevard, 7650-7700 West Virginia Avenue, and 7740-7986 West Alameda Avenue
      16   1991 Tower Drive
      17   260 Peachtree Street
      18   2801 West Tyvola Road
      19   817 West Peachtree Street
      20   8211 - 8265 Laguna Boulevard
      21   2211 East Madison Street

    22.1   1410 Johnston Drive and 1805-1863 Schoenersville Road
    22.2   1520 Irene Street
      22   Various

      23   40020, 40032 & 40080 Highway 49
      24   1151 Seven Locks Road
      25   1500 Concord Terrace

    26.1   2020 North Woodlawn Street
    26.2   6404 East Central Avenue
    26.3   2929 North Rock Road
      26   Various

    27.1   5000 North May Avenue
    27.2   3001 Northwest Expressway
    27.3   3303 South Boulevard Street
      27   Various

      28   4431 PGA Blvd
      29   29903 Agoura Road
      30   1901 West End Avenue
      31   15621, 15641, 15661 Red Hill Avenue
      32   300 M.A.C. Avenue
      33   110 Cooper Street
      34   1112 NW 15th Street
      35   631 West Katella
      36   361 Newbury Street
      37   3240 West Roosevelt Road
      38   1441 NW Louisiana Avenue
      39   2211 Hudson Road
      40   150 Route 17 North
      41   211 West Wisconsin Avenue
      42   12801 Fair Lakes Parkway

    43.1   400 Brookfield Parkway
    43.2   7001, 7003 and 7005 Pelham Road
      43   Various

      44   4425-4545 McKellips Road
      45   20300 SE Morrison Terrace
      46   1600 South Harbor Boulevard
      47   28007, 28023, 28031, 28039, 28047 & 28055 Scott Road
      48   8600 Allisonville Road
      49   13154 U.S. Highway 301
      50   100 County Road West
      51   1822-1876 N. Broadway
      52   841-853 Broadway
      53   1045 - 1051 South Willow Street
      54   11105 SW 200th Street
      55   20547 Waverly Court
      56   10470 Hudson Road
      57   250 Park Avenue South
      58   127 Samoset Street
      59   30 Gibbs Court
      60   26211 Enterprise Way

      61   3501 - 3607 Matthews-Mint Hill Road
      62   6 Long Shoals Road

      63   32 Asbury Avenue
      64   160 East 84th Street
      65   2500 Gateway Center Boulevard
      66   2701 Media Center Drive
      67   2555 Venture Oaks Way
      68   435 Arden Avenue

    69.1   1700 Hinman Ave
    69.2   1740 Hinman Ave
    69.3   2114 Central Street
      69   Various
      70   222 Northfield Road

      71   16040-16220 SE 82nd Avenue
      72   2078 Route 481

      73   1000 Solon Place Way
      74   2000 North Kaufman Street

      75   187-195 East Houston Street & 196-200 Orchard Street
      76   2700-2800 Merced Street and 1850 Fairway Drive
      77   2800 Earhart Court
      78   300 East Boyd Avenue
      79   3301 North Essington Road
      80   8303 and 8333 Green Meadows Drive
      81   1158-1276, 1286-1308, 1318-1340, 1346-1368, 1372-1394 (even #'s only) Hammon Avenue

    82.1   2160 E. Pacheco Boulevard
    82.2   1437 Historical Plaza Way
    82.3   520 Carolyn Weston Blvd & 3408 Manthey Rd
      82   Various

      83   8039 Boone Road
      84   9050 Wadsworth Parkway
      85   10270 St. Rita Lane
      86   1295 Donnelly Avenue SW
      87   2270 South Bradley Road

      88   87 Troy Town Drive
      89   83 Troy Town Drive

      90   2821-2927 North 15th Street
      91   2301 University Avenue
      92   6171 Bert Kouns Industrial Loop

    93.1   8090 Guide Meridian Road
    93.2   375 White Horse Pike
      93   Various

      94   10 Westec Drive
      95   100 Route 59
      96   970 25th Avenue
      97   2016-2022 Avenue U
      98   5201 Beltline Road

      99   14900 NW 7th Avenue
     100   1101 NW 22 Avenue

     101   4511 Riviera Shores Street
     102   5001 Lake Front Drive
     103   22301-22661 Gratiot Avenue
     104   12008 Middleground Road
     105   2807 Pearl Street
     106   2323 Woodman Drive

   107.1   2125-2127 Nostrand Ave
   107.2   1751-1759 University Ave.
   107.3   260 Prospect Park West
     107   Various

     108   255, 267 & 279 Cousteau Place
     109   627 - 644 Highpoint Drive
     110   806 West 7th Street
     111   5300 North Broadway
     112   10011 3rd Avenue SE
     113   2240 South Bradley Road
     114   525 Little Rock Road
     115   749 North Main Street
     116   2326 South Bradley Road
     117   7600 Alico Road
     118   450 South Willard Street
     119   1516 McCullough Boulevard
     120   210 Emily Drive
     121   912-980 E.1st St, 905-981 E. 2nd St, 910 E. 2nd St.& 125 S. San Antonio Avenue
     122   7122-7128 Miramar Rd
     123   620 Scranton Carbondale Highway
     124   2170 South Bradley Road
     125   6710 West Central Avenue
     126   380 Oakwood Road
     127   12110 East Burnside
     128   3104 Unionville Road
     129   5889 - 5915 Archer Avenue
     130   2306 South Bradley Road
     131   3560 Lakemont Boulevard
     132   1760-1840 North Broadway
     133   400 Burman Avenue
     134   9828 Wicker Ave

   135.1   1153 TriView Avenue
   135.2   1401 TriView Avnue
     135   1153 & 1401Triview Ave

     136   820 S. Main Street and 10306 Ligon Mill Road
     137   100-120 Sutton St.
     138   3627 Secor Road
     139   1175 Kelly Johnson Blvd.
     140   3021 North Pointe Drive
     141   7411 & 7421 Heathrow Way
     142   612-626 William Marks Drive
     143   5820 NE 8th Court
     144   2660 Northwest Division Street
     145   Courtright Drive & Wagnalls Court
     146   3500 Highway 34
     147   18524 US Highway 19 North
     148   3204-3212 Mt. Vernon Avenue and 3188 Droll Avenue
     149   3530 East Ellsworth Road
     150   2222 Meridian Avenue East
     151   6637 Van Buren Boulevard
     152   2513 S. 3rd Street
     153   46555 Humboldt Drive
     154   2608 Losee Road
     155   4105 West Hillsborough Avenue
     156   13710-13730 SW 88 Street
     157   1901 Centenary Boulevard
     158   8101 San Pedro Drive NE
     159   177-185 North Main Street
     160   3237 Berlin Turnpike

<CAPTION>
                                                                                                Cut-off          Remaining Term
                                          Zip       Mortgage    Amortization   Original         Date             To Stated
Sequence   City                 State     Code      Rate(1)     Basis(2)       Balance          Balance          Maturity (months)
--------   ------------------   -------   -------   --------    ------------   --------------   --------------   -----------------
<S>        <C>                  <C>       <C>       <C>         <C>            <C>              <C>              <C>
       1   Chicago              IL          60602      6.033%   Actual/360       $206,000,000     $206,000,000                 119
       2   Evansville           IN          47715      5.794%   Actual/360       $168,000,000     $168,000,000                 120
       3   Las Vegas            NV          89109      5.464%   Actual/360       $131,883,333     $131,883,333                 113

     4.1   Wilmette             IL          60091                                 $16,990,000      $16,945,354
     4.2   Roseville            MN          55113                                 $15,323,000      $15,282,734
     4.3   Grandville           MI          49418                                 $13,020,000      $12,985,786
     4.4   Vernon Hills         IL          60061                                 $11,433,000      $11,402,956
     4.5   Racine               WI          53406                                 $10,798,000      $10,769,625
     4.6   Des Moines           IA          50310                                 $10,480,000      $10,452,461
     4.7   Saint Cloud          MN          56301                                 $10,115,000      $10,088,420
     4.8   West Dundee          IL          60118                                 $10,083,000      $10,056,504
     4.9   Duluth               MN          55811                                 $10,004,000       $9,977,711
     4.1   Springfield          IL          62704                                  $7,860,000       $7,839,345
    4.11   West Des Moines      IA          50266                                  $7,066,000       $7,047,432
    4.12   Coralville           IA          52241                                  $6,828,000       $6,810,057
       4   Various              Various   Various      6.213%   Actual/360       $130,000,000     $129,658,386                 118

       5   New York             NY          10022      5.819%   Actual/360       $100,000,000     $100,000,000                 118

     6.1   New York             NY          10027                                 $57,230,000      $57,230,000
     6.2   New York             NY          10027                                 $41,020,000      $41,020,000
       6   New York             NY          10027      5.815%   Actual/360        $98,250,000      $98,250,000                 116

       7   Boston               MA          02109      5.570%   Actual/360        $98,000,000      $97,802,947                  82
       8   Savannah             GA          31401      6.232%   Actual/360        $82,725,000      $82,725,000                 120
       9   Chicago              IL          60610      5.577%   Actual/360        $75,000,000      $75,000,000                 129
      10   Norfolk              VA          23510      5.894%   Actual/360        $63,650,000      $63,650,000                 119
      11   Los Angeles          CA          90025      6.480%   Actual/360        $60,000,000      $59,675,588                 116
      12   Bethesda             MD          20817      5.382%   Actual/360        $54,600,000      $54,600,000                 109
      13   New York             NY          10172      4.495%   Actual/360        $50,000,000      $50,000,000                 112
      14   Harrisonburg         VA          22801      5.834%   Actual/360        $47,500,000      $47,500,000                 120
      15   Lakewood             CO          80226      5.950%   Actual/360        $42,500,000      $42,500,000                 143
      16   Glenview             IL          60026      5.710%   Actual/360        $42,500,000      $42,500,000                 120
      17   Atlanta              GA          30303      5.871%   Actual/360        $40,000,000      $40,000,000                 120
      18   Charlotte            NC          28217      5.591%   30/360            $34,645,000      $34,645,000                 118
      19   Atlanta              GA          30308      6.010%   Actual/360        $34,500,000      $34,500,000                  57
      20   Elk Grove            CA          95758      5.063%   Actual/360        $34,000,000      $33,570,735                 109
      21   Seattle              WA          98112      5.580%   Actual/360        $29,000,000      $28,973,228                 119

    22.1   Bethlehem            PA          18017                                 $20,635,514      $20,635,514
    22.2   Bethlehem            PA          18017                                  $6,964,486       $6,964,486
      22   Bethlehem            PA          18017      5.603%   Actual/360        $27,600,000      $27,600,000                 118

      23   Oakhurst             CA          93644      5.966%   Actual/360        $27,150,000      $27,150,000                 120
      24   Rockville            MD          20854      5.393%   Actual/360        $26,500,000      $26,500,000                 113
      25   Sunrise              FL          33323      6.200%   Actual/360        $26,500,000      $26,500,000                 120

    26.1   Wichita              KS          67208                                 $13,750,000      $13,750,000
    26.2   Wichita              KS          67206                                  $7,610,000       $7,610,000
    26.3   Wichita              KS          67226                                  $4,640,000       $4,640,000
      26   Wichita              KS        Various      5.497%   Actual/360        $26,000,000      $26,000,000                 115

    27.1   Oklahoma City        OK          73112                                 $10,800,000      $10,800,000
    27.2   Oklahoma City        OK          73112                                  $7,240,000       $7,240,000
    27.3   Edmond               OK          73013                                  $6,040,000       $6,040,000
      27   Various              OK        Various      5.732%   Actual/360        $24,080,000      $24,080,000                 119

      28   Palm Beach Gardens   FL          33410      6.170%   Actual/360        $24,000,000      $24,000,000                  59
      29   Agoura Hills         CA          91301      5.908%   Actual/360        $22,313,077      $22,294,132                 119
      30   Nashville            TN          37203      5.824%   Actual/360        $20,580,000      $20,540,849                 118
      31   Tustin               CA          92780      5.984%   Actual/360        $19,640,000      $19,640,000                 118
      32   East Lansing         MI          48823      6.252%   Actual/360        $18,825,000      $18,825,000                 120
      33   Santa Cruz           CA          95060      5.679%   Actual/360        $18,500,000      $18,500,000                 118
      34   Gresham              OR          97030      5.000%   Actual/360        $18,000,000      $17,893,443                 103
      35   Anaheim              CA          92802      5.546%   Actual/360        $16,760,000      $16,726,122                 118
      36   Boston               MA          02115      5.652%   Actual/360        $16,000,000      $15,985,494                 119
      37   Chicago              IL          60624      5.624%   Actual/360        $15,200,000      $15,200,000                 120
      38   Chehalis             WA          98532      5.555%   Actual/360        $15,000,000      $14,865,076                 111
      39   Greer                SC          29650      6.110%   Actual/360        $14,150,000      $14,150,000                  60
      40   Paramus              NJ          07652      5.748%   Actual/360        $14,000,000      $13,981,237                 119
      41   Milwaukee            WI          53203      5.900%   Actual/360        $14,000,000      $13,930,553                  79
      42   Fairfax              VA          22033      5.576%   Actual/360        $13,517,560      $13,517,560                 118

    43.1   Mauldin              SC          29607                                  $6,566,857       $6,566,857
    43.2   Greenville           SC          29615                                  $6,433,143       $6,433,143
      43   Various              SC        Various      5.759%   Actual/360        $13,000,000      $13,000,000                 116

      44   Mesa                 AZ          85215      5.388%   Actual/360        $13,000,000      $13,000,000                 112
      45   Gresham              OR          97030      5.000%   Actual/360        $13,000,000      $12,923,042                 103
      46   Anaheim              CA          92802      5.546%   Actual/360        $12,750,000      $12,724,228                 118
      47   Murrieta             CA          92563      6.080%   Actual/360        $12,588,207      $12,588,207                 119
      48   Indianapolis         IN          46250      5.369%   Actual/360        $12,530,000      $12,421,462                 112
      49   Riverview            FL          33569      5.293%   Actual/360        $12,400,000      $12,400,000                 117
      50   Princeton            IN          47670      5.688%   Actual/360        $11,057,986      $11,026,282                  81
      51   Santa Maria          CA          93454      5.622%   Actual/360        $11,000,000      $11,000,000                 117
      52   New York             NY          10003      5.553%   Actual/360        $11,000,000      $11,000,000                 118
      53   Manchester           NH          03103      5.697%   Actual/360        $10,850,000      $10,850,000                 119
      54   Miami                FL          33157      6.130%   Actual/360        $10,369,000      $10,360,697                 119
      55   Ashburn              VA          20147      6.112%   Actual/360        $10,250,000      $10,250,000                 119
      56   Woodbury             MN          55129      6.340%   Actual/360        $10,192,000      $10,192,000                 120
      57   New York             NY          10003      5.424%   Actual/360        $10,000,000      $10,000,000                 116
      58   Plymouth             MA          02360      5.490%   Actual/360        $10,000,000      $10,000,000                 118
      59   Middletown           NY          10940      6.160%   Actual/360        $10,000,000      $10,000,000                 120
      60   Lake Forest          CA          92630      6.120%   Actual/360         $9,976,000       $9,976,000                  84

      61   Mint Hill            NC          28105      5.932%   Actual/360         $6,840,000       $6,834,229                 119
      62   Arden                NC          28704      5.932%   Actual/360         $3,100,000       $3,097,384                 119
                                                                                   $9,940,000       $9,931,613

      63   Freehold             NJ          07728      6.048%   Actual/360         $9,922,000       $9,913,880                 119
      64   New York             NY          10028      5.553%   Actual/360         $9,000,000       $9,000,000                 118
      65   Federal Way          WA          98003      5.812%   Actual/360         $9,000,000       $8,974,922                 117
      66   Los Angeles          CA          90065      5.887%   Actual/360         $8,520,000       $8,520,000                 118
      67   Sacramento           CA          95833      6.380%   Actual/360         $8,500,000       $8,489,941                 119
      68   Glendale             CA          91203      5.833%   Actual/360         $8,500,000       $8,476,431                 117

    69.1   Evanston             IL          60201                                  $3,639,781       $3,639,781
    69.2   Evanston             IL          60201                                  $2,893,776       $2,893,776
    69.3   Evanston             IL          60201                                  $1,281,443       $1,281,443
      69   Evanston             IL          60201      5.599%   Actual/360         $7,815,000       $7,815,000                 117
      70   Northfield           IL          60093      5.719%   Actual/360           $565,000         $565,000                 117
                                                                                   $8,380,000       $8,380,000

      71   Clackamas            OR          97015      5.288%   Actual/360         $8,400,000       $8,334,624                 113
      72   Fulton               NY          13069      5.795%   Actual/360         $8,000,000       $7,984,684                 118

      73   Waxahachie           TX          75165      6.237%   Actual/360         $6,170,000       $6,165,200                 119
      74   Ennis                TX          75119      6.237%   Actual/360         $1,775,000       $1,772,838                 119
                                                                                   $7,945,000       $7,938,038

      75   New York             NY          10002      6.450%   Actual/360         $7,800,000       $7,800,000                 120
      76   San Leandro          CA          94577      5.950%   Actual/360         $7,769,400       $7,769,400                 117
      77   Hebron               KY          41048      5.781%   Actual/360         $7,680,000       $7,680,000                 119
      78   Greenfield           IN          46140      5.709%   Actual/360         $7,600,000       $7,567,755                  92
      79   Joliet               IL          60435      6.340%   Actual/360         $7,555,000       $7,555,000                 120
      80   Lewis Center         OH          43035      6.310%   Actual/360         $7,420,000       $7,420,000                  60
      81   Ephrata              PA          17522      6.205%   Actual/360         $7,100,000       $7,094,428                 119

    82.1   Los Banos            CA          93635                                  $3,318,884       $3,318,884
    82.2   Manteca              CA          95336                                  $2,099,016       $2,099,016
    82.3   Stockton             CA          95206                                  $1,632,100       $1,632,100
      82   Various              CA        Various      5.517%   Actual/360         $7,050,000       $7,050,000                 115

      83   Houston              TX          77072      5.887%   Actual/360         $7,000,000       $6,986,868                 118
      84   Westminster          CO          80021      5.652%   Actual/360         $6,850,000       $6,850,000                 115
      85   Evendale             OH          45215      5.768%   Actual/360         $6,730,000       $6,730,000                 119
      86   Atlanta              GA          30310      5.797%   Actual/360         $6,560,000       $6,547,446                 118
      87   Santa Maria          CA          93455      5.680%   Actual/360         $6,380,000       $6,367,473                 118

      88   Troy                 OH          45373      6.094%   Actual/360         $4,055,365       $4,052,086                 119
      89   Troy                 OH          45373      6.094%   Actual/360         $2,221,442       $2,219,646                 119
                                                                                   $6,276,807       $6,271,732

      90   Sheboygan            WI          53083      5.010%   30/360             $6,185,000       $6,185,000                  52
      91   Texarkana            TX          75503      6.420%   Actual/360         $6,175,000       $6,175,000                 120
      92   Shreveport           LA          71129      5.656%   Actual/360         $6,116,000       $6,116,000                 115

    93.1   Lynden               WA          98264                                  $3,850,000       $3,850,000
    93.2   Atco                 NJ          08004                                  $1,890,000       $1,890,000
      93   Various              Various   Various      5.884%   Actual/360         $5,740,000       $5,740,000                 118

      94   Auburn               MA          01501      6.300%   Actual/360         $5,720,000       $5,720,000                  60
      95   Suffern              NY          10901      6.111%   Actual/360         $5,682,409       $5,682,409                 120
      96   Coralville           IA          52241      6.440%   Actual/360         $5,500,000       $5,493,570                 119
      97   Brooklyn             NY          11229      5.485%   Actual/360         $5,400,000       $5,400,000                 116
      98   Dallas               TX          75254      5.655%   Actual/360         $5,350,000       $5,327,070                 116

      99   Miami                FL          33168      5.808%   Actual/360         $3,300,000       $3,293,700                 118
     100   Miami                FL          33125      5.808%   Actual/360         $2,000,000       $1,996,182                 118
                                                                                   $5,300,000       $5,289,882

     101   San Diego            CA          92154      5.606%   Actual/360         $5,285,000       $5,269,562                 117
     102   Tallahassee          FL          32303      5.700%   Actual/360         $5,200,000       $5,200,000                 119
     103   Eastpointe           MI          48021      5.367%   Actual/360         $5,200,000       $5,188,652                 119
     104   Savannah             GA          31419      5.785%   Actual/360         $5,175,000       $5,153,355                 116
     105   Nacogdoches          TX          75965      5.754%   Actual/360         $5,120,000       $5,115,477                 119
     106   Howard               WI          54303      6.420%   Actual/360         $5,078,000       $5,078,000                 120

   107.1   Brooklyn             NY          11210                                  $1,868,132       $1,866,796
   107.2   Bronx                NY          10453                                  $1,813,187       $1,811,890
   107.3   Brooklyn             NY          11215                                  $1,318,681       $1,317,738
     107   Various              NY        Various      6.540%   Actual/360         $5,000,000       $4,996,423                 119

     108   Davis                CA          95616      5.883%   Actual/360         $5,000,000       $4,990,611                 118
     109   Allegan              MI          49010      5.347%   Actual/360         $4,950,000       $4,917,653                 114
     110   Tifton               GA          31794      6.680%   Actual/360         $4,800,000       $4,800,000                 120
     111   Chicago              IL          60640      5.891%   Actual/360         $4,685,000       $4,672,183                  81
     112   Everett              WA          98208      6.210%   Actual/360         $4,550,000       $4,546,434                 119
     113   Santa Maria          CA          93455      5.680%   Actual/360         $4,450,000       $4,441,263                 118
     114   Charlotte            NC          28214      5.750%   Actual/360         $4,400,000       $4,400,000                 118
     115   Riverside            CA          92501      6.009%   Actual/360         $4,310,000       $4,310,000                 118
     116   Santa Maria          CA          93455      5.680%   Actual/360         $4,270,000       $4,261,616                 118
     117   Fort Myers           FL          33912      6.053%   Actual/360         $4,230,000       $4,230,000                 118
     118   Cottonwood           AZ          86326      6.370%   Actual/360         $4,185,000       $4,185,000                 119
     119   Tupelo               MS          38804      5.900%   Actual/360         $4,200,000       $4,173,650                 117
     120   Clarksburg           WV          26301      5.866%   Actual/360         $4,175,000       $4,157,802                 116
     121   Pomona               CA          91766      5.653%   Actual/360         $4,050,000       $4,025,136                 114
     122   San Diego            CA          92121      5.816%   Actual/360         $4,000,000       $3,992,377                 118
     123   Dickson City         PA          18519      5.645%   Actual/360         $3,640,000       $3,640,000                 116
     124   Santa Maria          CA          93455      5.680%   Actual/360         $3,600,000       $3,592,932                 118
     125   Sylvania             OH          43617      5.845%   Actual/360         $3,500,000       $3,493,373                 118
     126   Huntington Station   NY          11746      6.420%   Actual/360         $3,475,000       $3,475,000                 120
     127   Portland             OR          97216      5.675%   Actual/360         $3,465,113       $3,455,149                 117
     128   Cranberry Township   PA          16066      5.760%   Actual/360         $3,410,000       $3,410,000                 116
     129   Chicago              IL          60638      6.051%   Actual/360         $3,310,000       $3,301,279                  81
     130   Santa Maria          CA          93455      5.680%   Actual/360         $3,300,000       $3,293,521                 118
     131   Ft. Mill             SC          29708      6.250%   Actual/360         $3,200,000       $3,196,113                 119
     132   Walnut Creek         CA          94596      5.612%   Actual/360         $3,200,000       $3,179,148                 117
     133   Trotwood             OH          45426      5.927%   Actual/360         $3,120,000       $3,114,198                 118
     134   St. John             IN          46373      6.360%   Actual/360         $3,075,000       $3,075,000                 120

   135.1   Sioux City           IA          51103                                  $2,400,000       $2,397,055
   135.2   Sioux City           IA          51103                                    $660,000         $659,190
     135   Sioux City           IA          51103      6.200%   Actual/360         $3,060,000       $3,056,246                  83

     136   Wake Forest          NC          27587      5.913%   Actual/360         $3,000,000       $3,000,000                 118
     137   Brooklyn             NY          11222      5.813%   Actual/360         $3,000,000       $2,987,518                 116
     138   Toledo               OH          43606      5.733%   Actual/360         $3,000,000       $2,981,818                 116
     139   Colorado Springs     CO          80920      6.350%   Actual/360         $2,800,000       $2,800,000                  60
     140   Jackson              MI          49202      6.160%   Actual/360         $2,750,000       $2,750,000                 119
     141   Indianapolis         IN          46241      6.113%   Actual/360         $2,680,000       $2,675,220                 118
     142   Munhall              PA          15120      5.990%   Actual/360         $2,650,000       $2,647,798                 119
     143   Vancouver            WA          98665      5.977%   Actual/360         $2,650,000       $2,645,127                 118
     144   Gresham              OR          97030      6.217%   Actual/360         $2,600,000       $2,597,966                 119
     145   Pickerington         OH          43147      5.990%   Actual/360         $2,550,000       $2,550,000                 118
     146   Sharpsburg           GA          30277      6.171%   Actual/360         $2,535,000       $2,530,537                 118
     147   Clearwater           FL          33764      5.761%   Actual/360         $2,500,000       $2,495,178                 118
     148   Evansville           IN          47720      5.830%   Actual/360         $2,500,000       $2,493,063                 117
     149   Ann Arbor            MI          48108      6.920%   Actual/360         $2,400,000       $2,400,000                 119
     150   Edgewood             WA          98371      5.723%   Actual/360         $2,400,000       $2,389,844                 116
     151   Riverside            CA          92503      6.028%   Actual/360         $2,200,000       $2,198,190                 119
     152   Waco                 TX          76706      5.961%   Actual/360         $2,036,000       $2,032,243                 118
     153   Novi                 MI          48377      6.096%   Actual/360         $2,030,000       $2,026,365                 118
     154   North Las Vegas      NV          89030      5.978%   Actual/360         $2,000,000       $2,000,000                 118
     155   Tampa                FL          33614      5.759%   Actual/360         $2,000,000       $1,996,140                 118
     156   Miami                FL          33186      5.585%   Actual/360         $2,000,000       $1,991,315                 116
     157   Shreveport           LA          71101      6.110%   Actual/360         $1,705,000       $1,700,439                 118
     158   Albuquerque          NM          87113      6.454%   Actual/360         $1,555,000       $1,555,000                 119
     159   Suffolk              VA          23434      6.277%   Actual/360         $1,380,000       $1,372,302                 116
     160   Newington            CT          06111      5.816%   Actual/360         $1,100,000       $1,092,474                 178
                                                                                                $2,699,084,458

<CAPTION>
           Stated                                            Primary      Master
           Maturity    Due    Monthly      Administrative    Servicing    Servicing    Ownership
Sequence   Date        Date   Payment      Fee Rate(3)       Fee Rate     Fee Rate     Interest
--------   ---------   ----   ----------   --------------    ---------    ---------    -------------
<S>        <C>         <C>    <C>          <C>               <C>          <C>          <C>
       1   5/1/2016    1st    $1,239,382            0.021%       0.010%       0.010%   Fee
       2   6/1/2016    1st      $822,426            0.021%       0.010%       0.010%   Fee/Leasehold
       3   11/1/2015   1st      $739,475            0.021%       0.010%       0.010%   Fee

     4.1                                                                               Fee
     4.2                                                                               Fee
     4.3                                                                               Fee
     4.4                                                                               Fee
     4.5                                                                               Fee
     4.6                                                                               Fee
     4.7                                                                               Fee
     4.8                                                                               Fee
     4.9                                                                               Fee
     4.1                                                                               Fee
    4.11                                                                               Fee
    4.12                                                                               Fee
       4   4/1/2016    1st      $854,559            0.021%       0.010%       0.010%   Fee

       5   4/1/2016    1st      $491,609            0.021%       0.010%       0.010%   Fee

     6.1                                                                               Fee
     6.2                                                                               Leasehold
       6   2/1/2016    1st      $574,694            0.031%       0.010%       0.020%   Fee/Leasehold

       7   4/1/2013    1st      $560,766            0.021%       0.010%       0.010%   Leasehold
       8   6/1/2016    1st      $508,384            0.021%       0.010%       0.010%   Fee
       9   3/1/2017    1st      $464,030            0.031%       0.010%       0.020%   Fee
      10   5/1/2016    1st      $377,287            0.021%       0.010%       0.010%   Fee
      11   2/1/2016    1st      $404,375            0.021%       0.010%       0.010%   Fee
      12   7/1/2015    1st      $248,282            0.021%       0.010%       0.010%   Fee
      13   10/1/2015   1st      $189,886            0.021%       0.010%       0.010%   Fee
      14   6/1/2016    1st      $279,737            0.021%       0.010%       0.010%   Fee
      15   5/1/2018    1st      $253,444            0.021%       0.010%       0.010%   Fee
      16   6/1/2016    1st      $246,940            0.031%       0.020%       0.010%   Fee
      17   6/1/2016    1st      $236,513            0.041%       0.030%       0.010%   Fee
      18   4/1/2016    1st      $161,417            0.021%       0.010%       0.010%   Fee
      19   3/1/2011    1st      $207,067            0.031%       0.020%       0.010%   Fee
      20   7/1/2015    1st      $183,820            0.021%       0.010%       0.010%   Fee
      21   5/1/2016    1st      $166,117            0.021%       0.010%       0.010%   Fee

    22.1                                                                               Fee
    22.2                                                                               Fee
      22   4/1/2016    1st      $158,498            0.021%       0.010%       0.010%   Fee

      23   6/1/2016    1st      $162,185            0.021%       0.010%       0.010%   Fee
      24   11/1/2015   1st      $148,690            0.031%       0.010%       0.020%   Fee
      25   6/1/2016    1st      $138,818            0.031%       0.020%       0.010%   Fee

    26.1                                                                               Fee
    26.2                                                                               Fee
    26.3                                                                               Fee
      26   1/1/2016    1st      $147,576            0.031%       0.010%       0.020%   Fee

    27.1                                                                               Fee
    27.2                                                                               Fee
    27.3                                                                               Fee
      27   5/1/2016    1st      $140,249            0.031%       0.010%       0.020%   Fee

      28   5/1/2011    1st      $146,526            0.031%       0.020%       0.010%   Fee
      29   5/1/2016    1st      $132,461            0.021%       0.010%       0.010%   Fee
      30   4/1/2016    1st      $121,068            0.021%       0.010%       0.010%   Fee
      31   4/1/2016    1st      $117,550            0.021%       0.010%       0.010%   Fee
      32   6/1/2016    1st      $115,933            0.021%       0.010%       0.010%   Leasehold
      33   4/1/2016    1st      $107,128            0.061%       0.050%       0.010%   Fee
      34   1/1/2015    1st       $96,628            0.021%       0.010%       0.010%   Fee
      35   4/1/2016    1st       $95,646            0.021%       0.010%       0.010%   Fee
      36   5/1/2016    1st       $92,378            0.021%       0.010%       0.010%   Fee
      37   6/1/2016    1st       $87,490            0.031%       0.010%       0.020%   Fee
      38   9/1/2015    1st       $85,759            0.021%       0.010%       0.010%   Leasehold
      39   6/1/2011    1st       $73,048            0.031%       0.020%       0.010%   Fee
      40   5/1/2016    1st       $88,058            0.021%       0.010%       0.010%   Fee
      41   1/1/2013    1st       $83,039            0.031%       0.020%       0.010%   Fee
      42   4/1/2016    1st       $77,397            0.021%       0.010%       0.010%   Fee

    43.1                                                                               Fee
    43.2                                                                               Fee
      43   2/1/2016    1st       $75,939            0.041%       0.030%       0.010%   Fee

      44   10/1/2015   1st       $75,022            0.021%       0.010%       0.010%   Fee
      45   1/1/2015    1st       $69,787            0.021%       0.010%       0.010%   Fee
      46   4/1/2016    1st       $72,762            0.021%       0.010%       0.010%   Fee
      47   5/1/2016    1st       $76,121            0.021%       0.010%       0.010%   Fee
      48   10/1/2015   1st       $70,118            0.031%       0.010%       0.020%   Fee
      49   3/1/2016    1st       $68,802            0.021%       0.010%       0.010%   Fee
      50   3/1/2013    1st       $64,097            0.021%       0.010%       0.010%   Fee
      51   3/1/2016    1st       $63,301            0.021%       0.010%       0.010%   Fee
      52   4/1/2016    1st       $51,609            0.021%       0.010%       0.010%   Fee
      53   5/1/2016    1st       $62,953            0.031%       0.010%       0.020%   Fee
      54   5/1/2016    1st       $63,037            0.041%       0.030%       0.010%   Fee
      55   5/1/2016    1st       $62,194            0.021%       0.010%       0.010%   Fee
      56   6/1/2016    1st       $63,352            0.031%       0.020%       0.010%   Fee
      57   2/1/2016    1st       $45,828            0.021%       0.010%       0.010%   Fee
      58   4/1/2016    1st       $46,385            0.021%       0.010%       0.010%   Fee
      59   6/1/2016    1st       $60,988            0.031%       0.020%       0.010%   Fee
      60   6/1/2013    1st       $60,583            0.031%       0.020%       0.010%   Fee

      61   5/1/2016    1st       $40,711            0.021%       0.010%       0.010%   Fee
      62   5/1/2016    1st       $18,451            0.021%       0.010%       0.010%   Fee

      63   5/1/2016    1st       $59,794            0.041%       0.030%       0.010%   Fee
      64   4/1/2016    1st       $42,226            0.021%       0.010%       0.010%   Fee
      65   3/1/2016    1st       $52,877            0.041%       0.030%       0.010%   Fee
      66   4/1/2016    1st       $42,378            0.021%       0.010%       0.010%   Fee
      67   5/1/2016    1st       $56,757            0.031%       0.020%       0.010%   Fee
      68   3/1/2016    1st       $50,053            0.041%       0.030%       0.010%   Fee

    69.1                                                                               Fee
    69.2                                                                               Fee
    69.3                                                                               Fee
      69   3/1/2016    1st       $44,859            0.021%       0.010%       0.010%   Fee
      70   3/1/2016    1st        $3,286            0.021%       0.010%       0.010%   Fee

      71   11/1/2015   1st       $46,583            0.041%       0.030%       0.010%   Fee
      72   4/1/2016    1st       $46,915            0.031%       0.010%       0.020%   Fee

      73   5/1/2016    1st       $37,938            0.071%       0.060%       0.010%   Fee
      74   5/1/2016    1st       $11,695            0.091%       0.080%       0.010%   Fee

      75   6/1/2016    1st       $49,045            0.031%       0.020%       0.010%   Fee
      76   3/1/2016    1st       $55,439            0.041%       0.030%       0.010%   Leasehold
      77   5/1/2016    1st       $44,970            0.071%       0.060%       0.010%   Fee
      78   2/1/2014    1st       $44,154            0.041%       0.030%       0.010%   Leasehold
      79   6/1/2016    1st       $46,961            0.031%       0.020%       0.010%   Fee
      80   6/1/2011    1st       $45,976            0.031%       0.020%       0.010%   Fee
      81   5/1/2016    1st       $43,508            0.041%       0.030%       0.010%   Fee

    82.1                                                                               Fee
    82.2                                                                               Fee
    82.3                                                                               Fee
      82   1/1/2016    1st       $40,104            0.071%       0.060%       0.010%   Fee

      83   4/1/2016    1st       $41,461            0.041%       0.030%       0.010%   Fee
      84   1/1/2016    1st       $32,712            0.031%       0.010%       0.020%   Fee
      85   5/1/2016    1st       $39,351            0.071%       0.060%       0.010%   Fee
      86   4/1/2016    1st       $38,478            0.081%       0.070%       0.010%   Fee
      87   4/1/2016    1st       $36,949            0.021%       0.010%       0.010%   Fee

      88   5/1/2016    1st       $24,560            0.021%       0.010%       0.010%   Fee
      89   5/1/2016    1st       $13,453            0.021%       0.010%       0.010%   Fee

      90   10/1/2010   1st       $25,822            0.031%       0.010%       0.020%   Fee
      91   6/1/2016    1st       $38,706            0.031%       0.020%       0.010%   Fee
      92   1/1/2016    1st       $35,327            0.041%       0.030%       0.010%   Fee

    93.1                                                                               Fee
    93.2                                                                               Leasehold
      93   4/1/2016    1st       $33,987            0.031%       0.010%       0.020%   Fee/Leasehold

      94   6/1/2011    1st       $35,405            0.031%       0.020%       0.010%   Fee
      95   6/1/2016    1st       $34,475            0.021%       0.010%       0.010%   Fee
      96   5/1/2016    1st       $36,930            0.031%       0.020%       0.010%   Leasehold
      97   2/1/2016    1st       $25,025            0.021%       0.010%       0.010%   Fee
      98   2/1/2016    1st       $30,899            0.021%       0.010%       0.010%   Fee

      99   4/1/2016    1st       $19,380            0.081%       0.070%       0.010%   Fee
     100   4/1/2016    1st       $11,745            0.091%       0.080%       0.010%   Fee

     101   3/1/2016    1st       $30,360            0.021%       0.010%       0.010%   Fee
     102   5/1/2016    1st       $30,181            0.021%       0.010%       0.010%   Fee
     103   5/1/2016    1st       $35,381            0.021%       0.010%       0.010%   Fee
     104   2/1/2016    1st       $30,315            0.021%       0.010%       0.010%   Fee
     105   5/1/2016    1st       $29,892            0.021%       0.010%       0.010%   Fee
     106   6/1/2016    1st       $31,830            0.031%       0.020%       0.010%   Fee

   107.1                                                                               Fee
   107.2                                                                               Fee
   107.3                                                                               Fee
     107   5/1/2016    1st       $31,735            0.031%       0.020%       0.010%   Fee

     108   4/1/2016    1st       $29,602            0.041%       0.030%       0.010%   Fee
     109   12/1/2015   1st       $27,632            0.041%       0.030%       0.010%   Fee
     110   6/1/2016    1st       $32,952            0.031%       0.020%       0.010%   Fee
     111   3/1/2013    1st       $27,761            0.071%       0.060%       0.010%   Fee
     112   5/1/2016    1st       $27,897            0.031%       0.020%       0.010%   Fee
     113   4/1/2016    1st       $25,771            0.021%       0.010%       0.010%   Fee
     114   4/1/2016    1st       $25,677            0.031%       0.020%       0.010%   Fee
     115   4/1/2016    1st       $25,866            0.041%       0.030%       0.010%   Fee
     116   4/1/2016    1st       $24,729            0.021%       0.010%       0.010%   Fee
     117   4/1/2016    1st       $25,505            0.091%       0.080%       0.010%   Fee
     118   5/1/2016    1st       $22,524            0.061%       0.050%       0.010%   Fee
     119   3/1/2016    1st       $29,848            0.031%       0.020%       0.010%   Fee
     120   2/1/2016    1st       $24,673            0.071%       0.060%       0.010%   Fee
     121   12/1/2015   1st       $23,386            0.081%       0.060%       0.020%   Fee
     122   4/1/2016    1st       $23,511            0.041%       0.030%       0.010%   Fee
     123   2/1/2016    1st       $21,000            0.071%       0.060%       0.010%   Fee
     124   4/1/2016    1st       $20,849            0.021%       0.010%       0.010%   Fee
     125   4/1/2016    1st       $20,637            0.041%       0.030%       0.010%   Fee
     126   6/1/2016    1st       $21,782            0.031%       0.020%       0.010%   Fee
     127   3/1/2016    1st       $20,057            0.041%       0.030%       0.010%   Fee
     128   2/1/2016    1st       $19,922            0.041%       0.030%       0.010%   Fee
     129   3/1/2013    1st       $19,954            0.071%       0.060%       0.010%   Fee
     130   4/1/2016    1st       $19,111            0.021%       0.010%       0.010%   Fee
     131   5/1/2016    1st       $21,109            0.031%       0.020%       0.010%   Fee
     132   3/1/2016    1st       $22,215            0.091%       0.080%       0.010%   Leasehold
     133   4/1/2016    1st       $18,560            0.071%       0.060%       0.010%   Fee
     134   6/1/2016    1st       $19,154            0.031%       0.020%       0.010%   Fee

   135.1                                                                               Fee
   135.2                                                                               Fee
     135   5/1/2013    1st       $20,091            0.031%       0.020%       0.010%   Fee

     136   4/1/2016    1st       $17,819            0.091%       0.080%       0.010%   Fee
     137   2/1/2016    1st       $17,627            0.041%       0.030%       0.010%   Fee
     138   2/1/2016    1st       $18,842            0.071%       0.060%       0.010%   Fee
     139   6/1/2011    1st       $17,423            0.031%       0.020%       0.010%   Fee
     140   5/1/2016    1st       $16,772            0.031%       0.020%       0.010%   Fee
     141   4/1/2016    1st       $16,263            0.071%       0.060%       0.010%   Fee
     142   5/1/2016    1st       $15,871            0.031%       0.020%       0.010%   Fee
     143   4/1/2016    1st       $15,849            0.041%       0.030%       0.010%   Fee
     144   5/1/2016    1st       $15,953            0.021%       0.010%       0.010%   Fee
     145   4/1/2016    1st       $15,272            0.031%       0.020%       0.010%   Fee
     146   4/1/2016    1st       $15,478            0.091%       0.080%       0.010%   Fee
     147   4/1/2016    1st       $14,607            0.091%       0.080%       0.010%   Fee
     148   3/1/2016    1st       $14,717            0.021%       0.010%       0.010%   Fee
     149   5/1/2016    1st       $16,840            0.031%       0.020%       0.010%   Fee
     150   2/1/2016    1st       $13,965            0.041%       0.030%       0.010%   Fee
     151   5/1/2016    1st       $13,230            0.041%       0.030%       0.010%   Fee
     152   4/1/2016    1st       $12,156            0.091%       0.080%       0.010%   Fee
     153   4/1/2016    1st       $12,296            0.071%       0.060%       0.010%   Fee
     154   4/1/2016    1st       $11,963            0.041%       0.030%       0.010%   Fee
     155   4/1/2016    1st       $11,683            0.091%       0.080%       0.010%   Fee
     156   2/1/2016    1st       $11,463            0.091%       0.080%       0.010%   Leasehold
     157   4/1/2016    1st       $11,100            0.041%       0.030%       0.010%   Fee
     158   5/1/2016    1st        $9,782            0.041%       0.030%       0.010%   Leasehold
     159   2/1/2016    1st        $9,126            0.091%       0.080%       0.010%   Fee
     160   4/1/2021    1st        $9,173            0.041%       0.030%       0.010%   Fee

<CAPTION>
Sequence   Cross-Collateralized Loans   Original Amortization (months)(4)   ARD Loan   Grace Period
--------   --------------------------   ---------------------------------   --------   ------------
<S>        <C>                          <C>                                 <C>        <C>
       1   No                                                         360   No
       2   No                                                               No                    5
       3   No                                                         360   No

     4.1
     4.2
     4.3
     4.4
     4.5
     4.6
     4.7
     4.8
     4.9
     4.1
    4.11
    4.12
       4   No                                                         300   No

       5   No                                                               No                    5

     6.1
     6.2
       6   No                                                         360   No

       7   No                                                         360   No                   10
       8   No                                                         360   No
       9   No                                                         300   No                    5
      10   No                                                         360   No                    7
      11   No                                                         300   No
      12   No                                                               No
      13   No                                                               Yes
      14   No                                                         360   No                    5
      15   No                                                         360   No                    5
      16   No                                                         360   No                    5
      17   No                                                         360   No                    5
      18   No                                                               No                    5
      19   No                                                         360   No                    5
      20   No                                                         360   No                    5
      21   No                                                         360   No                    5

    22.1
    22.2
      22   No                                                         360   No                    5

      23   No                                                         360   No                    5
      24   No                                                         360   No                    5
      25   No                                                               No                    5

    26.1
    26.2
    26.3
      26   No                                                         360   No                    5

    27.1
    27.2
    27.3
      27   No                                                         360   No                    5

      28   No                                                         360   No                    5
      29   No                                                         360   No                    5
      30   No                                                         360   No                    5
      31   No                                                         360   No                    5
      32   No                                                         360   No
      33   No                                                         360   No                    5
      34   No                                                         360   No                    5
      35   No                                                         360   No                    5
      36   No                                                         360   No                    5
      37   No                                                         360   No                    5
      38   No                                                         360   No
      39   No                                                               No                    5
      40   No                                                         300   No                   10
      41   No                                                         360   No                    5
      42   No                                                         360   No                    5

    43.1
    43.2
      43   No                                                         360   No                    5

      44   No                                                         336   No                    5
      45   No                                                         360   No                    5
      46   No                                                         360   No                    5
      47   No                                                         360   No                    5
      48   No                                                         360   No                    5
      49   No                                                         360   No                    5
      50   No                                                         360   No                    5
      51   No                                                         360   No                    5
      52   No                                                               No
      53   No                                                         360   No                    5
      54   No                                                         360   No                    5
      55   No                                                         360   No
      56   No                                                         360   No                    5
      57   No                                                               No
      58   No                                                               No                    5
      59   No                                                         360   No                    5
      60   No                                                         360   No                    5

      61   Yes - BACM 06-2 A                                          360   No                    5
      62   Yes - BACM 06-2 A                                          360   No                    5

      63   No                                                         360   No                    5
      64   No                                                               No
      65   No                                                         360   No                    5
      66   No                                                               No                    5
      67   No                                                         300   No                    5
      68   No                                                         360   No                    5

    69.1
    69.2
    69.3
      69   Yes - BACM 06-2 B                                          360   No                    5
      70   Yes - BACM 06-2 B                                          360   No                    5

      71   No                                                         360   No                    5
      72   No                                                         360   No                    5

      73   Yes - BACM 06-2 C                                          360   No                    5
      74   Yes - BACM 06-2 C                                          300   No                    5

      75   No                                                         360   No                    5
      76   No                                                         240   No                    5
      77   No                                                         360   No                    5
      78   No                                                         360   No                    5
      79   No                                                         360   No                    5
      80   No                                                         360   No                    5
      81   No                                                         360   No                    5

    82.1
    82.2
    82.3
      82   No                                                         360   No                    5

      83   No                                                         360   No                    5
      84   No                                                               No                    5
      85   No                                                         360   No                    5
      86   No                                                         360   No                    5
      87   No                                                         360   No                    5

      88   Yes - BACM 06-2 D                                          360   No                    5
      89   Yes - BACM 06-2 D                                          360   No                    5

      90   No                                                               No                    5
      91   No                                                         360   No                    5
      92   No                                                         360   No                    5

    93.1
    93.2
      93   No                                                         360   No                    5

      94   No                                                         360   No                    5
      95   No                                                         360   No                    5
      96   No                                                         300   No                    5
      97   No                                                               No
      98   No                                                         360   No                    5

      99   Yes - BACM 06-2 E                                          360   No                    5
     100   Yes - BACM 06-2 E                                          360   No                    5

     101   No                                                         360   No                    5
     102   No                                                         360   No                    5
     103   No                                                         240   No                    5
     104   No                                                         360   No                    5
     105   No                                                         360   No                    5
     106   No                                                         360   No                    5

   107.1
   107.2
   107.3
     107   No                                                         360   No                    5

     108   No                                                         360   No                    5
     109   No                                                         360   No                    5
     110   No                                                         300   No                    5
     111   No                                                         360   No                    5
     112   No                                                         360   No                    5
     113   No                                                         360   No                    5
     114   No                                                         360   No                    5
     115   No                                                         360   No                    5
     116   No                                                         360   No                    5
     117   No                                                         360   No                    5
     118   No                                                               No                    5
     119   No                                                         240   No                    5
     120   No                                                         360   No                    5
     121   No                                                         360   No                    5
     122   No                                                         360   No                    5
     123   No                                                         360   No                    5
     124   No                                                         360   No                    5
     125   No                                                         360   No                    5
     126   No                                                         360   No                    5
     127   No                                                         360   No                    5
     128   No                                                         360   No                    5
     129   No                                                         360   No                    5
     130   No                                                         360   No                    5
     131   No                                                         300   No                    5
     132   No                                                         240   No                    5
     133   No                                                         360   No                    5
     134   No                                                         360   No                    5

   135.1
   135.2
     135   No                                                         300   No                    5

     136   No                                                         360   No                    5
     137   No                                                         360   No                    5
     138   No                                                         300   No                    5
     139   No                                                         360   No                    5
     140   No                                                         360   No                    5
     141   No                                                         360   No                    5
     142   No                                                         360   No                    5
     143   No                                                         360   No                    5
     144   No                                                         360   No                    5
     145   No                                                         360   No                    5
     146   No                                                         360   No                    5
     147   No                                                         360   No                    5
     148   No                                                         360   No                    5
     149   No                                                         300   No                    5
     150   No                                                         360   No                    5
     151   No                                                         360   No                    7
     152   No                                                         360   No                    5
     153   No                                                         360   No                    5
     154   No                                                         360   No                    7
     155   No                                                         360   No                    5
     156   No                                                         360   No                    5
     157   No                                                         300   No                    5
     158   No                                                         360   No                    5
     159   No                                                         300   No                    5
     160   No                                                         180   No                    5

</TABLE>
--------------------
1)    Rates are to full precision in the "BACM2006_2.xls" file located on the
      computer diskette.
2)    For Mortgage Loans which accrue interest on the basis of actual days
      elapsed each calendar month and a 360-day year, the amortization term is
      the term over which the Mortgage Loans would amortize if interest accrued
      and was paid on the basis of a 360-day year consisting of twelve 30-day
      months. The actual amortization would be longer.
3)    Administrative Fee Rate includes the rates at which the master servicing
      fee (and any sub-servicing fee) and trustee fee accrue.
4)    Loan number 45591 has scheduled amortization.
5)    For loan numbers 3219704 & 3219706 the payment grace period is 5 business
      days.

<PAGE>

                                   SCHEDULE II

            Sub-Servicing Agreements in Effect as of the Closing Date

            1. Sub-Servicing Agreement, dated as of June 1, 2006, by and between
BANK OF AMERICA, NATIONAL ASSOCIATION, as Master Servicer, and MIDLAND LOAN
SERVICES, INC., as Sub-Servicer.

            2. Sub-Servicing Agreement, dated as of June 1, 2006, by and between
BANK OF AMERICA, NATIONAL ASSOCIATION, as Master Servicer, and WACHOVIA BANK,
NATIONAL ASSOCIATION, as Sub-Servicer.

            3. Sub-Servicing Agreement, dated as of June 1, 2006, by and between
BANK OF AMERICA, NATIONAL ASSOCIATION, as Master Servicer, CAPSTONE REALTY
ADVISORS, LLC, COLLATERAL MORTGAGE CAPITAL, LLC, LAUREATE CAPITAL LLC, CBRE
MELODY OF TEXAS, LP, and NORTHMARQ CAPITAL, INC., each as Sub-Servicers.

            4. Sub-Servicing Agreement, dated as of June 1, 2006, by and between
BANK OF AMERICA, NATIONAL ASSOCIATION, as Master Servicer, and HOLLIDAY FENOGLIO
FOWLER, L.P., as Sub-Servicer. Section 1.01

<PAGE>

                                  SCHEDULE III

                  Schedule of Exceptions under Section 2.02(a)

                                      None.

<PAGE>

                                   SCHEDULE IV

                                   [Reserved]

<PAGE>

                                   SCHEDULE V

                 Mortgage Loans that Initially Pay Interest Only

NOTICE TO RECIPIENT

The asset-backed securities referred to in these materials, and the asset pools
backing them, are subject to modification or revision (including the possibility
that one or more classes of securities may be split, combined or eliminated at
any time prior to issuance or availability of a final prospectus) and are
offered on a "when, as and if issued" basis. You understand that, when you are
considering the purchase of these securities, a contract of sale will come into
being no sooner than the date on which the relevant class has been priced and we
have confirmed the allocation of securities to be made to you; any "indications
of interest" expressed by you, and any "soft circles" generated by us, will not
create binding contractual obligations for you or us.

Because the asset-backed securities are being offered on a "when, as and if
issued" basis, any such contract will terminate, by its terms, without any
further obligation or liability between us, if the securities themselves, or the
particular class to which the contract relates, are not issued. Because the
asset-backed securities are subject to modification or revision, any such
contract also is conditioned upon the understanding that no material change will
occur with respect to the relevant class of securities prior to the closing
date. If a material change does occur with respect to such class, our contract
will terminate, by its terms, without any further obligation or liability
between us (the "Automatic Termination"). If an Automatic Termination occurs, we
will provide you with revised offering materials reflecting the material change
and give you an opportunity to purchase such class. To indicate your interest in
purchasing the class, you must communicate to us your desire to do so within
such timeframe as may be designated in connection with your receipt of the
revised offering materials.

The information contained in these materials may be based on assumptions
regarding market conditions and other matters as reflected herein. Banc of
America Securities LLC (the "Underwriter") makes no representation regarding the
reasonableness of such assumptions or the likelihood that any such assumptions
will coincide with actual market conditions or events, and these materials
should not be relied upon for such purposes. The Underwriter and its affiliates,
officers, directors, partners and employees, including persons involved in the
preparation or issuance of these materials, may, from time to time, have long or
short positions in, and buy and sell, the securities mentioned herein or
derivatives thereof (including options). Information in these materials is
current as of the date appearing on the material only. Information in these
materials regarding any securities discussed herein supersedes all prior
information regarding such securities. These materials are not to be construed
as an offer to sell or the solicitation of any offer to buy any security in any
jurisdiction where such an offer or solicitation would be illegal.

The issuer has filed a registration statement (including a prospectus) with the
SEC for the offering to which this communication relates. Before you invest, you
should read the prospectus in that registration statement and other documents
the issuer has filed with the SEC for more complete information about the issuer
and this offering. You may get these documents for free by visiting EDGAR on the
SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any
dealer participating in the offering will arrange to send you the prospectus if
you request it by calling toll-free 1-800-294-1322 or you e-mail a request to
dg.prospectus_distribution@bofasecurities.com. The securities may not be
suitable for all investors. Banc of America Securities LLC and its affiliates
may acquire, hold or sell positions in these securities, or in related
derivatives, and may have an investment or commercial banking relationship with
the issuer.

IRS CIRCULAR 230 NOTICE: THIS FREE WRITING PROSPECTUS IS NOT INTENDED OR WRITTEN
TO BE USED, AND CANNOT BE USED, FOR THE PURPOSE OF AVOIDING U.S. FEDERAL, STATE
OR LOCAL TAX PENALTIES. THIS FREE WRITING PROSPECTUS IS WRITTEN AND PROVIDED BY
THE UNDERWRITERS IN CONNECTION WITH THE PROMOTION OR MARKETING OF THE
TRANSACTIONS OR MATTERS ADDRESSED HEREIN. INVESTORS SHOULD SEEK ADVICE BASED ON
THEIR PARTICULAR CIRCUMSTANCES FROM AN INDEPENDENT TAX ADVISOR.

<PAGE>
<TABLE>
<CAPTION>
LoanNumber   PropertyName                                       LoanTransaction   Cutoff Balance   Amortization Type
----------   ------------------------------------------------   ---------------   --------------   -----------------------
<S>          <C>                                                <C>               <C>              <C>
   3400002   181 West Madison Street                            BACM 2006-2          206,000,000   IO, Balloon
   3219704   Eastland Mall                                      BACM 2006-2          168,000,000   Interest Only
     59264   Desert Passage                                     BACM 2006-2          131,883,333   IO, Balloon
     59729   150 East 52nd Street                               BACM 2006-2          100,000,000   Interest Only
     45591   55 & 215 West 125th Street                         BACM 2006-2           98,250,000   IO, Balloon
     45806   Embassy Suites Chicago                             BACM 2006-2           75,000,000   IO, Balloon
     59816   Dominion Tower                                     BACM 2006-2           63,650,000   IO, Balloon
     59711   2 Rockledge Centre                                 BACM 2006-2           54,600,000   Interest Only
     59147   277 Park Avenue                                    BACM 2006-2           50,000,000   Interest Only, Hyper Am
     59807   Lakewood City Commons                              BACM 2006-2           42,500,000   IO, Balloon
     17917   Peachtree Street Office                            BACM 2006-2           40,000,000   IO, Balloon
     59741   Belk Headquarters                                  BACM 2006-2           34,645,000   Interest Only
  20051406   The Biltmore                                       BACM 2006-2           34,500,000   IO, Balloon
     59666   Sherwood Apartments & Winding Wood Apartments      BACM 2006-2           27,600,000   IO, Balloon
     44827   1151 Seven Locks Plaza                             BACM 2006-2           26,500,000   IO, Balloon
  20061403   Nortel Networks Building                           BACM 2006-2           26,500,000   Interest Only
     45772   Wichita Retail Portfolio                           BACM 2006-2           26,000,000   IO, Balloon
     46147   Oklahoma Retail Center Portfolio                   BACM 2006-2           24,080,000   IO, Balloon
  20061440   Doubletree Hotel - Palm Beach Gardens              BACM 2006-2           24,000,000   IO, Balloon
     59790   Northpointe Office Building                        BACM 2006-2           19,640,000   IO, Balloon
     59760   Cooper House                                       BACM 2006-2           18,500,000   IO, Balloon
     58608   Columbia Trails Apartments                         BACM 2006-2           17,893,443   IO, Balloon
     46523   Lawndale Plaza                                     BACM 2006-2           15,200,000   IO, Balloon
  20061614   Polos at Hudson Corners                            BACM 2006-2           14,150,000   Interest Only
     59664   Parkway Woods                                      BACM 2006-2           13,517,560   IO, Balloon
     17801   Brookfield-Pelham Rollup                           BACM 2006-2           13,000,000   IO, Balloon
     59266   Falcon Gateway                                     BACM 2006-2           13,000,000   IO, Balloon
     58607   Avalon Apartments                                  BACM 2006-2           12,923,042   IO, Balloon
     59614   Heritage Marketplace                               BACM 2006-2           12,588,207   IO, Balloon
     59083   Summerfield Crossings                              BACM 2006-2           12,400,000   IO, Balloon
     59668   North Broadway Plaza                               BACM 2006-2           11,000,000   IO, Balloon
     59749   841-853 Broadway                                   BACM 2006-2           11,000,000   Interest Only
     46414   Manchester Run                                     BACM 2006-2           10,850,000   IO, Balloon
     59803   National Association of Letter Carriers Building   BACM 2006-2           10,250,000   IO, Balloon
  20061601   Gander Mountain-Minnesota                          BACM 2006-2           10,192,000   IO, Balloon
     59647   250 Park Avenue South                              BACM 2006-2           10,000,000   Interest Only
     59721   Myles Standish Plaza                               BACM 2006-2           10,000,000   Interest Only
  20061411   26211 Enterprise Way                               BACM 2006-2            9,976,000   IO, Balloon
     59748   160 East 84th Street                               BACM 2006-2            9,000,000   Interest Only
     59810   Point 360 Media Center                             BACM 2006-2            8,520,000   Interest Only
     59649   Raymond Apartments                                 BACM 2006-2            7,815,000   IO, Balloon
     16072   Titan Facility                                     BACM 2006-2            7,769,400   IO, Balloon
     17742   FedEx Warehouse Building                           BACM 2006-2            7,680,000   IO, Balloon
  20061602   Gander Mountain-Illinois                           BACM 2006-2            7,555,000   IO, Balloon
     59467   Manthey Road-Sterling                              BACM 2006-2            7,050,000   IO, Balloon
     44743   Home Depot - Westminster                           BACM 2006-2            6,850,000   Interest Only
     17824   GE Warehouse Building                              BACM 2006-2            6,730,000   IO, Balloon
     44462   NorthGate Shopping Center                          BACM 2006-2            6,185,000   Interest Only
  20061603   Gander Mountain-Texas                              BACM 2006-2            6,175,000   IO, Balloon
     15779   River Oaks                                         BACM 2006-2            6,116,000   IO, Balloon
     46162   Rite Aid Atco & Rite Aid Lynden                    BACM 2006-2            5,740,000   IO, Balloon
  20061405   Fed Ex Ground Packaging                            BACM 2006-2            5,720,000   IO, Balloon
     59667   Bank of America at Avenue U                        BACM 2006-2            5,400,000   Interest Only
     59778   Club at Lake Jackson Apartments                    BACM 2006-2            5,200,000   IO, Balloon
  20061604   Gander Mountain-Wisconsin                          BACM 2006-2            5,078,000   IO, Balloon
  20061304   Paw Creek Crossing Shopping Center                 BACM 2006-2            4,400,000   IO, Balloon
     17207   Lockaway Storage-Riverside                         BACM 2006-2            4,310,000   IO, Balloon
     14898   Alico Storage                                      BACM 2006-2            4,230,000   IO, Balloon
  20061523   Manzanita Medical Plaza                            BACM 2006-2            4,185,000   Interest Only
     59482   TGI Friday's Plaza                                 BACM 2006-2            3,640,000   IO, Balloon
     16980   Cranberry Business Center                          BACM 2006-2            3,410,000   IO, Balloon
     17648   North Wake Mini Storage                            BACM 2006-2            3,000,000   IO, Balloon
  20061406   DeVry University Center                            BACM 2006-2            2,800,000   IO, Balloon
  20051494   North Pointe Apartments                            BACM 2006-2            2,750,000   IO, Balloon
  20051420   Pleasant Townhomes                                 BACM 2006-2            2,550,000   IO, Balloon
  20061288   3530 Ellsworth Road                                BACM 2006-2            2,400,000   IO, Balloon
     17897   Secured Storage Vegas                              BACM 2006-2            2,000,000   IO, Balloon
     14800   The Shops on Sedona Row                            BACM 2006-2            1,555,000   IO, Balloon
     59648   Raymond - 222 Northfield Rd                        BACM 2006-2              565,000   IO, Balloon

<CAPTION>
LoanNumber   IOPeriod   Loan Group   % of Loan Group   % of Pool
----------   --------   ----------   ---------------   ---------
<S>          <C>        <C>          <C>               <C>
   3400002         48            1               8.2%        7.6%
   3219704        120            1               6.7%        6.2%
     59264         36            1               5.2%        4.9%
     59729        120            1               4.0%        3.7%
     45591         24            1               3.9%        3.6%
     45806         60            1               3.0%        2.8%
     59816         60            1               2.5%        2.4%
     59711        112            1               2.2%        2.0%
     59147        120            1               2.0%        1.9%
     59807         72            1               1.7%        1.6%
     17917         24            1               1.6%        1.5%
     59741        120            1               1.4%        1.3%
  20051406         12            1               1.4%        1.3%
     59666         36            2              15.0%        1.0%
     44827         36            1               1.1%        1.0%
  20061403        120            1               1.1%        1.0%
     45772         60            1               1.0%        1.0%
     46147         36            1               1.0%        0.9%
  20061440         24            1               1.0%        0.9%
     59790         12            1               0.8%        0.7%
     59760         60            1               0.7%        0.7%
     58608         12            2               9.7%        0.7%
     46523         36            1               0.6%        0.6%
  20061614         60            2               7.7%        0.5%
     59664         60            1               0.5%        0.5%
     17801         60            1               0.5%        0.5%
     59266         84            1               0.5%        0.5%
     58607         12            2               7.0%        0.5%
     59614         24            1               0.5%        0.5%
     59083         24            1               0.5%        0.5%
     59668         60            1               0.4%        0.4%
     59749        120            1               0.4%        0.4%
     46414         36            1               0.4%        0.4%
     59803         36            1               0.4%        0.4%
  20061601         60            1               0.4%        0.4%
     59647        120            1               0.4%        0.4%
     59721        120            1               0.4%        0.4%
  20061411         36            1               0.4%        0.4%
     59748        120            1               0.4%        0.3%
     59810        120            1               0.3%        0.3%
     59649         12            1               0.3%        0.3%
     16072         12            1               0.3%        0.3%
     17742         24            1               0.3%        0.3%
  20061602         60            1               0.3%        0.3%
     59467         60            1               0.3%        0.3%
     44743        120            1               0.3%        0.3%
     17824         24            1               0.3%        0.2%
     44462         60            1               0.2%        0.2%
  20061603         60            1               0.2%        0.2%
     15779         24            2               3.3%        0.2%
     46162         36            1               0.2%        0.2%
  20061405         36            1               0.2%        0.2%
     59667        120            1               0.2%        0.2%
     59778         36            2               2.8%        0.2%
  20061604         60            1               0.2%        0.2%
  20061304         36            1               0.2%        0.2%
     17207         24            1               0.2%        0.2%
     14898         24            1               0.2%        0.2%
  20061523        120            1               0.2%        0.2%
     59482         48            1               0.1%        0.1%
     16980         60            1               0.1%        0.1%
     17648         24            1               0.1%        0.1%
  20061406         36            1               0.1%        0.1%
  20051494         48            2               1.5%        0.1%
  20051420         24            2               1.4%        0.1%
  20061288         12            1               0.1%        0.1%
     17897         24            1               0.1%        0.1%
     14800         12            1               0.1%        0.1%
     59648         12            1               0.0%        0.0%
</TABLE>

<PAGE>

                                   SCHEDULE VI

                    Mortgage Loans Containing Additional Debt

NOTICE TO RECIPIENT

The asset-backed securities referred to in these materials, and the asset pools
backing them, are subject to modification or revision (including the possibility
that one or more classes of securities may be split, combined or eliminated at
any time prior to issuance or availability of a final prospectus) and are
offered on a "when, as and if issued" basis. You understand that, when you are
considering the purchase of these securities, a contract of sale will come into
being no sooner than the date on which the relevant class has been priced and we
have confirmed the allocation of securities to be made to you; any "indications
of interest" expressed by you, and any "soft circles" generated by us, will not
create binding contractual obligations for you or us.

Because the asset-backed securities are being offered on a "when, as and if
issued" basis, any such contract will terminate, by its terms, without any
further obligation or liability between us, if the securities themselves, or the
particular class to which the contract relates, are not issued. Because the
asset-backed securities are subject to modification or revision, any such
contract also is conditioned upon the understanding that no material change will
occur with respect to the relevant class of securities prior to the closing
date. If a material change does occur with respect to such class, our contract
will terminate, by its terms, without any further obligation or liability
between us (the "Automatic Termination"). If an Automatic Termination occurs, we
will provide you with revised offering materials reflecting the material change
and give you an opportunity to purchase such class. To indicate your interest in
purchasing the class, you must communicate to us your desire to do so within
such timeframe as may be designated in connection with your receipt of the
revised offering materials.

The information contained in these materials may be based on assumptions
regarding market conditions and other matters as reflected herein. Banc of
America Securities LLC (the "Underwriter") makes no representation regarding the
reasonableness of such assumptions or the likelihood that any such assumptions
will coincide with actual market conditions or events, and these materials
should not be relied upon for such purposes. The Underwriter and its affiliates,
officers, directors, partners and employees, including persons involved in the
preparation or issuance of these materials, may, from time to time, have long or
short positions in, and buy and sell, the securities mentioned herein or
derivatives thereof (including options). Information in these materials is
current as of the date appearing on the material only. Information in these
materials regarding any securities discussed herein supersedes all prior
information regarding such securities. These materials are not to be construed
as an offer to sell or the solicitation of any offer to buy any security in any
jurisdiction where such an offer or solicitation would be illegal.

The issuer has filed a registration statement (including a prospectus) with the
SEC for the offering to which this communication relates. Before you invest, you
should read the prospectus in that registration statement and other documents
the issuer has filed with the SEC for more complete information about the issuer
and this offering. You may get these documents for free by visiting EDGAR on the
SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any
dealer participating in the offering will arrange to send you the prospectus if
you request it by calling toll-free 1-800-294-1322 or you e-mail a request to
dg.prospectus_distribution@bofasecurities.com. The securities may not be
suitable for all investors. Banc of America Securities LLC and its affiliates
may acquire, hold or sell positions in these securities, or in related
derivatives, and may have an investment or commercial banking relationship with
the issuer.

IRS CIRCULAR 230 NOTICE: THIS FREE WRITING PROSPECTUS IS NOT INTENDED OR WRITTEN
TO BE USED, AND CANNOT BE USED, FOR THE PURPOSE OF AVOIDING U.S. FEDERAL, STATE
OR LOCAL TAX PENALTIES. THIS FREE WRITING PROSPECTUS IS WRITTEN AND PROVIDED BY
THE UNDERWRITERS IN CONNECTION WITH THE PROMOTION OR MARKETING OF THE
TRANSACTIONS OR MATTERS ADDRESSED HEREIN. INVESTORS SHOULD SEEK ADVICE BASED ON
THEIR PARTICULAR CIRCUMSTANCES FROM AN INDEPENDENT TAX ADVISOR.

<PAGE>
<TABLE>
<CAPTION>

LoanNumber   PropertyName                                    LoanTransaction   Cutoff Balance   Existing Additional Debt
----------   ---------------------------------------------   ---------------   --------------   ------------------------
<S>          <C>                                             <C>               <C>              <C>
     59264   Desert Passage                                  BACM 2006-2          131,883,333             Yes
     45591   55 & 215 West 125th Street                      BACM 2006-2           98,250,000             Yes
     59147   277 Park Avenue                                 BACM 2006-2           50,000,000             Yes
  20051406   The Biltmore                                    BACM 2006-2           34,500,000             Yes
     59666   Sherwood Apartments & Winding Wood Apartments   BACM 2006-2           27,600,000             Yes
     45772   Wichita Retail Portfolio                        BACM 2006-2           26,000,000             Yes
     58148   Twin City Town Center                           BACM 2006-2           14,865,076             Yes
  20051493   GSA - Milwaukee                                 BACM 2006-2           13,930,553             Yes
  20061538   Green Meadows                                   BACM 2006-2            7,420,000             Yes
     17886   Solon Place Apartment Homes                     BACM 2006-2            6,165,200             Yes
  20061509   MOTM Self Storage Huntington                    BACM 2006-2            3,475,000             Yes
     17890   Kaufman Place                                   BACM 2006-2            1,772,838             Yes
     14800   The Shops on Sedona Row                         BACM 2006-2            1,555,000             Yes
   3400002   181 West Madison Street                         BACM 2006-2          206,000,000              No
   3219704   Eastland Mall                                   BACM 2006-2          168,000,000              No
     59729   150 East 52nd Street                            BACM 2006-2          100,000,000              No
   3400081   Faneuil Hall                                    BACM 2006-2           97,802,947              No
     59816   Dominion Tower                                  BACM 2006-2           63,650,000              No
     59603   Sports Club LA                                  BACM 2006-2           59,675,588              No
   3219706   Valley Mall                                     BACM 2006-2           47,500,000              No
     59820   The Junction                                    BACM 2006-2           27,150,000              No
     44827   1151 Seven Locks Plaza                          BACM 2006-2           26,500,000              No
     59790   Northpointe Office Building                     BACM 2006-2           19,640,000              No
     59760   Cooper House                                    BACM 2006-2           18,500,000              No
     59664   Parkway Woods                                   BACM 2006-2           13,517,560              No
     59434   Ford - Princeton Park                           BACM 2006-2           11,026,282              No
     46414   Manchester Run                                  BACM 2006-2           10,850,000              No
     59721   Myles Standish Plaza                            BACM 2006-2           10,000,000              No
     59810   Point 360 Media Center                          BACM 2006-2            8,520,000              No
     59649   Raymond Apartments                              BACM 2006-2            7,815,000              No
  20051335   Houston & Orchard Retail                        BACM 2006-2            7,800,000              No
     59467   Manthey Road-Sterling                           BACM 2006-2            7,050,000              No
     59733   Crossroads - TJ Maxx                            BACM 2006-2            6,367,473              No
     59778   Club at Lake Jackson Apartments                 BACM 2006-2            5,200,000              No
     59788   East Brooke Commons                             BACM 2006-2            5,188,652              No
     15599   High Pointe 2                                   BACM 2006-2            4,917,653              No
     14233   Broadway Festival Plaza                         BACM 2006-2            4,672,183              No
     59732   Crossroads - Linens N Things                    BACM 2006-2            4,441,263              No
     17207   Lockaway Storage-Riverside                      BACM 2006-2            4,310,000              No
     59734   Crossroads - Best Buy                           BACM 2006-2            4,261,616              No
     59730   Crossroads - Staples                            BACM 2006-2            3,592,932              No
     14237   Archer and Central Plaza                        BACM 2006-2            3,301,279              No
     59731   Crossroads - PetSmart                           BACM 2006-2            3,293,521              No
     17124   Suffolk Tower                                   BACM 2006-2            1,372,302              No
     17779   Sovereign Bank-Newington                        BACM 2006-2            1,092,474              No
     59648   Raymond - 222 Northfield Rd                     BACM 2006-2              565,000              No

<CAPTION>
LoanNumber   Existing Additional Debt Amount
----------   -------------------------------
<S>          <C>
     59264                       303,766,667
     45591                         4,750,000
     59147                       650,000,000
  20051406                         2,200,000
     59666                         1,300,000
     45772                         1,387,200
     58148                         1,510,469
  20051493                         5,000,000
  20061538                         2,050,000
     17886                           280,000
  20061509                           250,000
     17890                            75,000
     14800                            95,000
   3400002                                 `
   3219704                                 `
     59729                                 `
   3400081                                 `
     59816                                 `
     59603                                 `
   3219706                                 `
     59820                                 `
     44827                                 `
     59790                                 `
     59760                                 `
     59664                                 `
     59434                                 `
     46414                                 `
     59721                                 `
     59810                                 `
     59649                                 `
  20051335                                 `
     59467                                 `
     59733                                 `
     59778                                 `
     59788                                 `
     15599                                 `
     14233                                 `
     59732                                 `
     17207                                 `
     59734                                 `
     59730                                 `
     14237                                 `
     59731                                 `
     17124                                 `
     17779                                 `
     59648                                 `

<CAPTION>
LoanNumber   Existing Additional Debt Description
----------   --------------------------------------------------------------------------------------------
<S>          <C>
     59264   A-1 Pari-Passu ($131.883MM); A-2 Pari-Passu ($131.883MM); Mezz($40MM)
     45591   Mezzanine
     59147   A-1 Pari-Passu ($260MM); A-2 Pari Passu ($190MM); Senior Mezz ($100MM); Junior Mezz ($100MM)
  20051406   Third Party Mezzanine
     59666   Mezzanine
     45772   Mezzanine
     58148   Unsecured Subordinate Debt
  20051493   Third Party Mezzanine
  20061538   Unsecured Subordinate Debt
     17886   Secured by Second Lien
  20061509   Third Party Mezzanine
     17890   Secured by Second Lien
     14800   Secured by Second Lien
   3400002   `
   3219704   `
     59729   `
   3400081   `
     59816   `
     59603   `
   3219706   `
     59820   `
     44827   `
     59790   `
     59760   `
     59664   `
     59434   `
     46414   `
     59721   `
     59810   `
     59649   `
  20051335   `
     59467   `
     59733   `
     59778   `
     59788   `
     15599   `
     14233   `
     59732   `
     17207   `
     59734   `
     59730   `
     14237   `
     59731   `
     17124   `
     17779   `
     59648   `

<CAPTION>
LoanNumber   Future Debt Permitted?
----------   ----------------------
<S>          <C>
     59264            Yes
     45591             No
     59147             No
  20051406            Yes
     59666             No
     45772             No
     58148             No
  20051493             No
  20061538             No
     17886             No
  20061509             No
     17890             No
     14800             No
   3400002            Yes
   3219704            Yes
     59729            Yes
   3400081            Yes
     59816            Yes
     59603            Yes
   3219706            Yes
     59820            Yes
     44827            Yes
     59790            Yes
     59760            Yes
     59664            Yes
     59434            Yes
     46414            Yes
     59721            Yes
     59810            Yes
     59649            Yes
  20051335            Yes
     59467            Yes
     59733            Yes
     59778            Yes
     59788            Yes
     15599            Yes
     14233            Yes
     59732            Yes
     17207            Yes
     59734            Yes
     59730            Yes
     14237            Yes
     59731            Yes
     17124            Yes
     17779            Yes
     59648            Yes

<CAPTION>
LoanNumber   Future Debt Amount Permitted
----------   ----------------------------------
<S>          <C>
     59264   LTV <= 75%; DSCR >= 1.25x
     45591   `
     59147   `
  20051406                              600,000
     59666   `
     45772   `
     58148   `
  20051493   `
  20061538   `
     17886   `
  20061509   `
     17890   `
     14800   `
   3400002   LTV <= 75%; DSCR >= 1.09x
   3219704   LTV <= 80%; DSCR >= 1.25x
     59729   LTV <= 85%; DSCR >= 1.10x
   3400081   LTV <= 75%; DSCR >= 1.25x
     59816   LTV <= 80%; DSCR >= 1.15x
     59603   LTV <= 70%; DSCR >= 1.55x
   3219706   LTV <= 80%; DSCR >= 1.25x
     59820   LTV <= 75%; DSCR >= 1.20x
     44827   LTV =<75%; DSCR >=1.10x
     59790   LTV <= 80%; DSCR >= 1.20x
     59760   LTV <= 72.35%; DSCR >= 1.20x
     59664   LTV <= 80%; DSCR >= 1.15x
     59434   `
     46414   LTV <=85%; DSCR >=1.05x
     59721   LTV <= 75%; DSCR >= 1.30x
     59810   LTV <= 85%; DSCR >= 1.15x
     59649   LTV <= 60.2%; DSCR >= 1.20x
  20051335   LTV <= 65%, DSCR >= 1.25x combined
     59467   LTV <= 80%; DSCR >= 1.25x
     59733   LTV <= 70%; DSCR >= 1.20x
     59778   LTV <= 80%; DSCR >= 1.29x
     59788   LTV <= 60%; DSCR >= 1.40x
     15599   LTV <= 80%; DSCR >= 1.20x
     14233   LTV <= 85%; DSCR >= 1.15x
     59732   LTV <= 70%; DSCR >= 1.20x
     17207   LTV <= 80%; DSCR >= 1.20x
     59734   LTV <= 70%; DSCR >= 1.20x
     59730   LTV <= 70%; DSCR >= 1.20x
     14237   LTV <= 85%; DSCR >= 1.15x
     59731   LTV <= 70%; DSCR >= 1.20x
     17124   LTV <= 76.7%; DSCR >= 1.20x
     17779   LTV <= 75%; DSCR >= 1.25x
     59648   LTV <= 56.5%; DSCR >= 1.36x

<CAPTION>
LoanNumber   Future Debt Description              Loan Group   % of Loan Group    % of Pool
----------   ----------------------------------   ----------   ---------------    ---------
<S>          <C>                                  <C>          <C>                <C>
     59264   Junior Mezzanine                              1               5.2%         4.9%
     45591   `                                             1               3.9%         3.6%
     59147   `                                             1               2.0%         1.9%
  20051406   Unsecured Debt by Borrower Members            1               1.4%         1.3%
     59666   `                                             2              15.0%         1.0%
     45772   `                                             1               1.0%         1.0%
     58148   `                                             1               0.6%         0.6%
  20051493   `                                             1               0.6%         0.5%
  20061538   `                                             1               0.3%         0.3%
     17886   `                                             2               3.4%         0.2%
  20061509   `                                             1               0.1%         0.1%
     17890   `                                             2               1.0%         0.1%
     14800   `                                             1               0.1%         0.1%
   3400002   Mezzanine                                     1               8.2%         7.6%
   3219704   Mezzanine                                     1               6.7%         6.2%
     59729   Mezzanine                                     1               4.0%         3.7%
   3400081   Mezzanine                                     1               3.9%         3.6%
     59816   Mezzanine                                     1               2.5%         2.4%
     59603   Mezzanine                                     1               2.4%         2.2%
   3219706   Mezzanine                                     1               1.9%         1.8%
     59820   Mezzanine                                     1               1.1%         1.0%
     44827   Mezzanine                                     1               1.1%         1.0%
     59790   Mezzanine                                     1               0.8%         0.7%
     59760   Mezzanine                                     1               0.7%         0.7%
     59664   Mezzanine                                     1               0.5%         0.5%
     59434   Secured Line of Credit                        1               0.4%         0.4%
     46414   Mezzanine                                     1               0.4%         0.4%
     59721   Mezzanine                                     1               0.4%         0.4%
     59810   Mezzanine                                     1               0.3%         0.3%
     59649   Mezzanine                                     1               0.3%         0.3%
  20051335   Mezzanine                                     1               0.3%         0.3%
     59467   Mezzanine                                     1               0.3%         0.3%
     59733   Mezzanine                                     1               0.3%         0.2%
     59778   Mezzanine                                     2               2.8%         0.2%
     59788   Mezzanine                                     1               0.2%         0.2%
     15599   Subordinate Secured                           2               2.7%         0.2%
     14233   Subordinate Secured or Mezzanine              1               0.2%         0.2%
     59732   Mezzanine                                     1               0.2%         0.2%
     17207   Subordinate Secured                           1               0.2%         0.2%
     59734   Mezzanine                                     1               0.2%         0.2%
     59730   Mezzanine                                     1               0.1%         0.1%
     14237   Subordinate Secured or Mezzanine              1               0.1%         0.1%
     59731   Mezzanine                                     1               0.1%         0.1%
     17124   Subordinate Secured                           2               0.7%         0.1%
     17779   Subordinate Secured or Unsecured              1               0.0%         0.0%
     59648   Mezzanine                                     1               0.0%         0.0%
</TABLE>

<PAGE>

                                  SCHEDULE VII

            Schedule of Controlling Holders and Operating Advisors

Directing Certificateholder

            Hyperion Brookfield Asset Management Inc., at Three World
            Financial Center, 200 Vesey Street, 10th Floor, New York, New
            York 10281-1010, Attention: Julie Madnick, telecopy number
            (212)549-8304.
<PAGE>

                                  SCHEDULE VIII

         SERVICING CRITERIA TO BE ADDRESSED IN ASSESSMENT OF COMPLIANCE

      The assessment of compliance to be delivered shall address, at a minimum,
the criteria identified below as "Relevant Servicing Criteria", as such criteria
may be expanded, limited or otherwise updated by the Commission or its staff
(including, without limitation, not requiring delivery of certain of the items
set forth on this schedule based on interpretive guidance relating to Item 1122
of Regulation AB provided by the Commission or its staff:

<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------- -------------------
                                                                                                         Applicable
                                            Relevant Servicing Criteria                                  Party(ies)
-------------------- ------------------------------------------------------------------------------- -------------------
     Reference                                          Criteria
-------------------- ------------------------------------------------------------------------------- -------------------
<S>                  <C>                                                                             <C>
                                            General Servicing Considerations
--------------------                                                                                 -------------------

--------------------                                                                                 -------------------
1122(d)(1)(i)        Policies and procedures are instituted to monitor any performance or other           Trustee
                     triggers and events of default in accordance with the transaction agreements.    Master Servicer
                                                                                                      Special Servicer
                                                                                                      Primary Servicer
--------------------                                                                                 -------------------
1122(d)(1)(ii)       If any material servicing activities are outsourced to third parties,                Trustee
                     policies and procedures are instituted to monitor the third party's              Master Servicer
                     performance and compliance with such servicing activities.                       Special Servicer
                                                                                                      Primary Servicer
--------------------                                                                                 -------------------
                     Any requirements in the transaction agreements to maintain a back-up servicer          N/A
1122(d)(1)(iii)      for the mortgage loans are maintained.
--------------------                                                                                 -------------------
                     A fidelity bond and errors and omissions policy is in effect on the party            Trustee
                     participating in the servicing function throughout the reporting period in       Master Servicer
                     the amount of coverage required by and otherwise in accordance with the terms    Special Servicer
                     of the transaction agreements.                                                   Primary Servicer
1122(d)(1)(iv)
--------------------                                                                                 -------------------
                                           Cash Collection and Administration
--------------------                                                                                 -------------------
1122(d)(2)(i)        Payments on mortgage loans are deposited into the appropriate custodial bank         Trustee
                     accounts and related bank clearing accounts no more than two business days       Master Servicer
                     following receipt, or such other number of days specified in the transaction     Special Servicer
                     agreements.                                                                      Primary Servicer
--------------------                                                                                 -------------------
                     Disbursements made via wire transfer on behalf of an obligor or to an                Trustee
1122(d)(2)(ii)       investor are made only by authorized personnel.
--------------------                                                                                 -------------------
                     Advances of funds or guarantees regarding collections, cash flows or             Master Servicer
                     distributions, and any interest or other fees charged for such advances, are     Special Servicer
                     made, reviewed and approved as specified in the transaction agreements.             Trustee
1122(d)(2)(iii)
--------------------                                                                                 -------------------
                     The related accounts for the transaction, such as cash reserve accounts or           Trustee
                     accounts established as a form of overcollateralization, are separately          Master Servicer
                     maintained (e.g., with respect to commingling of cash) as set forth in the       Special Servicer
                     transaction agreements.                                                          Primary Servicer
1122(d)(2)(iv)
--------------------                                                                                 -------------------
                     Each custodial account is maintained at a federally insured depository               Trustee
                     institution as set forth in the transaction agreements. For purposes of this     Master Servicer
                     criterion, "federally insured depository institution" with respect to a          Special Servicer
                     foreign financial institution means a foreign financial institution that         Primary Servicer
                     meets the requirements of Rule 13k-1(b)(1) of the Securities Exchange Act.
1122(d)(2)(v)
--------------------                                                                                 -------------------
                     Unissued checks are safeguarded so as to prevent unauthorized access.            Master Servicer
                                                                                                      Special Servicer
                                                                                                          Trustee
1122(d)(2)(vi)                                                                                        Primary Servicer
--------------------                                                                                 -------------------
                     Reconciliations are prepared on a monthly basis for all asset-backed
                     securities related bank accounts, including custodial accounts and related           Trustee
                     bank clearing accounts. These reconciliations are (A) mathematically             Master Servicer
                     accurate; (B) prepared within 30 calendar days after the bank statement          Special Servicer
                     cutoff date, or such other number of days specified in the transaction           Primary Servicer
                     agreements; (C) reviewed and approved by someone other than the person who
                     prepared the reconciliation; and (D) contain explanations for reconciling
                     items. These reconciling items are resolved within 90 calendar days of their
                     original identification, or such other number of days specified in the
1122(d)(2)(vii)      transaction agreements.
--------------------                                                                                 -------------------
                                           Investor Remittances and Reporting
--------------------                                                                                 -------------------
1122(d)(3)(i)        Reports to investors, including those to be filed with the Commission, are           Trustee
                     maintained in accordance with the transaction agreements and applicable
                     Commission requirements. Specifically, such reports (A) are prepared in
                     accordance with timeframes and other terms set forth in the transaction
                     agreements; (B) provide information calculated in accordance with the terms
                     specified in the transaction agreements; (C) are filed with the Commission as
                     required by its rules and regulations; and (D) agree with investors' or the
                     trustee's records as to the total unpaid principal balance and number of
                     mortgage loans serviced by the Servicer.
--------------------                                                                                 -------------------
                     Amounts due to investors are allocated and remitted in accordance with               Trustee
                     timeframes, distribution priority and other terms set forth in the
1122(d)(3)(ii)       transaction agreements.
--------------------                                                                                 -------------------
                     Disbursements made to an investor are posted within two business days to the         Trustee
                     Servicer's investor records, or such other number of days specified in the
1122(d)(3)(iii)      transaction agreements.
--------------------                                                                                 -------------------
                     Amounts remitted to investors per the investor reports agree with cancelled          Trustee
1122(d)(3)(iv)       checks, or other form of payment, or custodial bank statements.
--------------------                                                                                 -------------------
                                               Pool Asset Administration
--------------------                                                                                 -------------------
1122(d)(4)(i)        Collateral or security on mortgage loans is maintained as required by the            Trustee
                     transaction agreements or related mortgage loan documents.                       Master Servicer
                                                                                                      Special Servicer
                                                                                                      Primary Servicer
--------------------                                                                                 -------------------
                     Mortgage loan and related documents are safeguarded as required by the               Trustee
1122(d)(4)(ii)       transaction agreements.
--------------------                                                                                 -------------------
                     Any additions, removals or substitutions to the asset pool are made, reviewed        Trustee
                     and approved in accordance with any conditions or requirements in the            Master Servicer
                     transaction agreements.                                                          Special Servicer
                                                                                                      Primary Servicer
1122(d)(4)(iii)
--------------------                                                                                 -------------------
                     Payments on mortgage loans, including any payoffs, made in accordance with       Master Servicer
                     the related mortgage loan documents are posted to the Servicer's obligor         Primary Servicer
                     records maintained no more than two business days after receipt, or such
                     other number of days specified in the transaction agreements, and allocated
                     to principal, interest or other items (e.g., escrow) in accordance with the
1122(d)(4)(iv)       related mortgage loan documents.
--------------------                                                                                 -------------------
                     The Servicer's records regarding the mortgage loans agree with the Servicer's    Master Servicer
                     records with respect to an obligor's unpaid principal balance.                   Primary Servicer
1122(d)(4)(v)
--------------------                                                                                 -------------------
                     Changes with respect to the terms or status of an obligor's mortgage loans       Master Servicer
                     (e.g., loan modifications or re-agings) are made, reviewed and approved by       Special Servicer
                     authorized personnel in accordance with the transaction agreements and           Primary Servicer
                     related pool asset documents.
1122(d)(4)(vi)
--------------------                                                                                 -------------------
                     Loss mitigation or recovery actions (e.g., forbearance plans, modifications      Master Servicer
                     and deeds in lieu of foreclosure, foreclosures and repossessions, as             Special Servicer
                     applicable) are initiated, conducted and concluded in accordance with the
1122(d)(4)(vii)      timeframes or other requirements established by the transaction agreements.
--------------------                                                                                 -------------------
                     Records documenting collection efforts are maintained during the period a        Master Servicer
                     mortgage loan is delinquent in accordance with the transaction agreements.       Special Servicer
                     Such records are maintained on at least a monthly basis, or such other period    Primary Servicer
                     specified in the transaction agreements, and describe the entity's activities
                     in monitoring delinquent mortgage loans including, for example, phone calls,
                     letters and payment rescheduling plans in cases where delinquency is deemed
1122(d)(4)(viii)     temporary (e.g., illness or unemployment).
--------------------                                                                                 -------------------
                     Adjustments to interest rates or rates of return for mortgage loans with         Master Servicer
                     variable rates are computed based on the related mortgage loan documents.        Primary Servicer

1122(d)(4)(ix)
--------------------                                                                                 -------------------
                     Regarding any funds held in trust for an obligor (such as escrow accounts):      Master Servicer
                     (A) such funds are analyzed, in accordance with the obligor's mortgage loan      Primary Servicer
                     documents, on at least an annual basis, or such other period specified in the
                     transaction agreements; (B) interest on such funds is paid, or credited, to
                     obligors in accordance with applicable mortgage loan documents and state
                     laws; and (C) such funds are returned to the obligor within 30 calendar days
                     of full repayment of the related mortgage loans, or such other number of days
1122(d)(4)(x)        specified in the transaction agreements.
--------------------                                                                                 -------------------
                     Payments made on behalf of an obligor (such as tax or insurance payments) are    Master Servicer
                     made on or before the related penalty or expiration dates, as indicated on       Primary Servicer
                     the appropriate bills or notices for such payments, provided that such
                     support has been received by the servicer at least 30 calendar days prior to
                     these dates, or such other number of days specified in the transaction
1122(d)(4)(xi)       agreements.
--------------------                                                                                 -------------------
                     Any late payment penalties in connection with any payment to be made on          Master Servicer
                     behalf of an obligor are paid from the servicer's funds and not charged to       Primary Servicer
                     the obligor, unless the late payment was due to the obligor's error or
1122(d)(4)(xii)      omission.
--------------------                                                                                 -------------------
                     Disbursements made on behalf of an obligor are posted within two business        Master Servicer
                     days to the obligor's records maintained by the servicer, or such other          Primary Servicer
1122(d)(4)(xiii)     number of days specified in the transaction agreements.
--------------------                                                                                 -------------------
                     Delinquencies, charge-offs and uncollectible accounts are recognized and         Master Servicer
                     recorded in accordance with the transaction agreements.                          Primary Servicer
1122(d)(4)(xiv)
--------------------                                                                                 -------------------
1122(d)(4)(xv)       Any external enhancement or other support, identified in Item 1114(a)(1)               N/A
                     through (3) or Item 1115 of Regulation AB, is maintained as set forth in the
                     transaction agreements.
-------------------- ------------------------------------------------------------------------------- -------------------
</TABLE>

<PAGE>

                                   SCHEDULE IX

                         Additional Form 10-D Disclosure

The parties identified in the "Party Responsible" column are obligated pursuant
to Section 11.4 of the Pooling and Servicing Agreement to disclose to the
Depositor and the Trustee any information described in the corresponding Form
10-D Item described in the "Item on Form 10-D" column to the extent such party
has actual knowledge (and in the case of financial statements required to be
provided in connection with Item 6 below, possession) of such information (other
than information as to itself).

<TABLE>
<CAPTION>
---------------------------------------------------------- --------------------------------------------------------------
                    Item on Form 10-D                                            Party Responsible
---------------------------------------------------------- --------------------------------------------------------------
<S>                                                        <C>
Item 1A: Distribution and Pool Performance Information:    o        Master Servicer
o        Item 1121(a)(13) of Regulation AB                 o        Trustee

---------------------------------------------------------- --------------------------------------------------------------
Item 1B: Distribution and Pool Performance Information:    o        Trustee
o        Item 1121 (a)(14) of Regulation AB                o        Depositor

---------------------------------------------------------- --------------------------------------------------------------
Item 2: Legal Proceedings:                                 o        Master Servicer (as to itself)
o        Item 1117 of Regulation AB (to the extent         o        Special Servicer (as to itself)
         material to Certificateholders)                   o        Trustee (as to itself)
                                                           o        Depositor (as to itself)
                                                           o        Primary Servicer (as to itself)
                                                           o        Any other Reporting Servicer (as to itself)
                                                           o        Trustee/Master Servicer/Depositor/Special Servicer
                                                                    as to the Trust in the case of the Master Servicer
                                                                    and Special Servicer, to be reported by the party
                                                                    controlling such litigation pursuant to Section [  ].
                                                           o        Each Seller as sponsor (as defined in Regulation AB)
                                                           o        Originators under Item 1110 of Regulation AB
                                                           o        Party under Item 1100(d)(1) of Regulation AB

---------------------------------------------------------- --------------------------------------------------------------
Item 3:  Sale of Securities and Use of Proceeds            o        Depositor

---------------------------------------------------------- --------------------------------------------------------------
Item 4:  Defaults Upon Senior Securities                   o        Trustee

---------------------------------------------------------- --------------------------------------------------------------
Item 5:  Submission of Matters to a Vote of Security       o        Trustee
Holders

---------------------------------------------------------- --------------------------------------------------------------
Item 6:  Significant Obligors of Pool Assets               o        Depositor
                                                           o        Sponsor
                                                           o        Mortgage Loan Seller
                                                           o        Master Servicer
                                                           o        Primary Servicer (as to loans serviced by it)

---------------------------------------------------------- --------------------------------------------------------------
Item 7:  Significant Enhancement Provider Information      o        Depositor

---------------------------------------------------------- --------------------------------------------------------------
Item 8:  Other Information (information required to be     o        Trustee
disclosed on Form 8-K that was not properly disclosed)     o        Any other party responsible for disclosure items on
                                                                     Form 8-K

---------------------------------------------------------- --------------------------------------------------------------
Item 9:  Exhibits                                          o        Depositor
                                                           o        Master Servicer
                                                           o        Trustee
                                                           o        Primary Servicer

---------------------------------------------------------- --------------------------------------------------------------
</TABLE>

<PAGE>

                                   SCHEDULE X

                         Additional Form 10-K Disclosure

The parties identified in the "Party Responsible" column are obligated pursuant
to Section 11.5 of the Pooling and Servicing Agreement to disclose to the
Depositor and the Trustee any information described in the corresponding Form
10-K Item described in the "Item on Form 10-K" column to the extent such party
has actual knowledge (and in the case of financial statements required to be
provided in connection with 1112(b) below, possession) of such information
(other than information as to itself).

<TABLE>
<CAPTION>
---------------------------------------------------------- ----------------------------------------------------------------
                    Item on Form 10-K                                             Party Responsible
---------------------------------------------------------- ----------------------------------------------------------------
<S>                                                        <C>
Item 1B: Unresolved Staff Comments                         o        Depositor

---------------------------------------------------------- ----------------------------------------------------------------
Item 9B:  Other Information (information required to be    o        Trustee
disclosed on Form 8-K that was not properly disclosed)     o        Any other party responsible for disclosure items on
                                                                    Form 8-K
---------------------------------------------------------- ----------------------------------------------------------------
Item 15:  Exhibits, Financial Statement Schedules          o        Trustee
                                                           o        Depositor
---------------------------------------------------------- ----------------------------------------------------------------
Additional Item:                                           o        Master Servicer (as to itself)
                                                           o        Special Servicer (as to itself)
Disclosure per Item 1117 of Regulation AB (to the extent   o        Trustee (as to itself)
material to Certificateholders)                            o        Depositor (as to itself)
                                                           o        Primary Servicer (as to itself)
                                                           o        Any other Reporting Servicer (as to itself)
                                                           o        Trustee/Master Servicer/Depositor/Special Servicer as
                                                                    to the Trust in the case of the Master Servicer and
                                                                    Special Servicer, to be reported by the party
                                                                    controlling such litigation pursuant to Section 3.32.
                                                           o        Each Seller as sponsor (as defined in Regulation AB)
                                                           o        Originators under Item 1110 of Regulation AB
                                                           o        Party under Item 1100(d)(1) of Regulation AB
---------------------------------------------------------- ----------------------------------------------------------------
Additional Item:                                           o        Master Servicer (as to itself)
Disclosure per Item 1119 of Regulation AB                  o        Special Servicer (as to itself) (to the extent
                                                                    material to Certificateholders and only as to
                                                                    affiliations  under 1119(a))
                                                           o        Trustee (as to itself)
                                                           o        Depositor (as to itself)
                                                           o        Primary Servicer (as to itself)
                                                           o        Trustee/Master Servicer/Depositor/Special Servicer as
                                                                    to the Trust
                                                           o        Each Seller as sponsors (as defined in Regulation AB)
                                                           o        Originators under Item 1110 of Regulation AB
                                                           o        Party under Item 1100(d)(1) of Regulation AB
---------------------------------------------------------- ----------------------------------------------------------------
Additional Item:                                           o        Depositor
Disclosure per Item 1112(b) of Regulation AB               o        Each Seller as sponsor (as defined in Regulation AB)
                                                           o        Master Servicer
---------------------------------------------------------- ----------------------------------------------------------------
Additional Item:                                           o        Depositor
Disclosure per Items 1114(b)(2) and 1115(b) of
Regulation AB                                              o        Master Servicer
---------------------------------------------------------- ----------------------------------------------------------------
</TABLE>

<PAGE>

                                   SCHEDULE XI

                         Form 8-K Disclosure Information

The parties identified in the "Party Responsible" column are obligated pursuant
to Section 11.7 of the Pooling and Servicing Agreement to report to the
Depositor and the Trustee the occurrence of any event described in the
corresponding Form 8-K Item described in the "Item on Form 8-K" column to the
extent such party has actual knowledge of such information (other than
information as to itself).

<TABLE>
<CAPTION>
---------------------------------------------------------- --------------------------------------------------------
                    Item on Form 8-K                                          Party Responsible
---------------------------------------------------------- --------------------------------------------------------
<S>                                                        <C>
Item 1.01- Entry into a Material Definitive Agreement            All parties (only as to the agreements such
                                                                 entity is a party to or entered into on behalf
                                                                 of the Trust)
---------------------------------------------------------- --------------------------------------------------------
Item 1.02- Termination of a Material Definitive Agreement       All parties (only as to the agreements such
                                                                entity is a party to or entered into on behalf of
                                                                the Trust)
---------------------------------------------------------- --------------------------------------------------------
Item 1.03- Bankruptcy or Receivership                      o        Depositor
---------------------------------------------------------- --------------------------------------------------------
Item 2.04- Triggering Events that Accelerate or Increase   o        Depositor
a Direct Financial Obligation or an Obligation under an
Off-Balance Sheet Arrangement
---------------------------------------------------------- --------------------------------------------------------
Item 3.03- Material Modification to Rights of Security
Holders
                                                           o        Trustee
---------------------------------------------------------- --------------------------------------------------------
Item 5.03- Amendments of Articles of Incorporation or      o        Depositor
Bylaws; Change of Fiscal Year
---------------------------------------------------------- --------------------------------------------------------
Item 6.01- ABS Informational and Computational Material    o        Depositor
---------------------------------------------------------- --------------------------------------------------------
Item 6.02- Change of Servicer or Trustee                   o        Master Servicer
                                                           o        Special Servicer (as to itself or a servicer
                                                                    retained by it)
                                                           o        Primary Servicer
                                                           o        Trustee
                                                           o        Depositor
---------------------------------------------------------- --------------------------------------------------------
Item 6.03- Change in Credit Enhancement or External        o        Depositor
Support                                                    o        Trustee
---------------------------------------------------------- --------------------------------------------------------
Item 6.04- Failure to Make a Required Distribution         o        Trustee
---------------------------------------------------------- --------------------------------------------------------
Item 6.05- Securities Act Updating Disclosure              o        Depositor
---------------------------------------------------------- --------------------------------------------------------
Item 7.01- Regulation FD Disclosure                        o        Depositor
---------------------------------------------------------- --------------------------------------------------------
Item 8.01                                                  o        Depositor
---------------------------------------------------------- --------------------------------------------------------
Item 9.01                                                  o        Depositor
                                                           o        Master Servicer
                                                           o        Primary Servicer
---------------------------------------------------------- --------------------------------------------------------
</TABLE>

<PAGE>

                                  SCHEDULE XII

                   FORM OF ADDITIONAL DISCLOSURE NOTIFICATION

**SEND VIA FAX TO (312) 904-2084 AND VIA OVERNIGHT MAIL TO LASALLE AND BANK
OF AMERICA AT THE ADDRESSES IMMEDIATELY BELOW**

LaSalle Bank National Association
135 South LaSalle Street, Suite 1625
Chicago, Illinois 60603
Attention:  Global Securities and Trust Services Group - Banc of America
Commercial Mortgage Inc., Commercial Mortgage Pass-Through Certificates,
Series 2006-2

Banc of America Commercial Mortgage Inc.
214 North Tryon Street, NC1-027-22-03
Charlotte, North Carolina 28255
Attention:  Stephen L. Hogue

RE:  **Additional Form [10-D][10-K][8-K] Disclosure** Required

Ladies and Gentlemen:

            In accordance with Section [ ] of the pooling and servicing
agreement, dated as of June 1, 2006 (the "Pooling and Servicing Agreement"), by
and among Banc of America Commercial Mortgage Inc. (the "Company"), as
depositor, Bank of America, National Association, as master servicer, LNR
Partners, Inc., as Special Servicer, and LaSalle Bank National Association, as
trustee and REMIC administrator. The undersigned, as [ ], hereby notifies you
that certain events have come to our attention that [will] [may] need to be
disclosed on Form [10-D][10-K][8-K].

Description of Additional Form [10-D][10-K][8-K] Disclosure:

List of any Attachments hereto to be included in the Additional Form
[10-D][10-K][8-K] Disclosure:

            Any inquiries related to this  notification  should be directed to
[      ],       phone       number:       [      ];       email       address:
[                   ].

                                       [NAME OF PARTY],
                                          as [role]

                                       By: ___________________________________
                                           Name:
                                           Title:

cc:   Depositor

<PAGE>

                                 SCHEDULE XIII

                        BACM 2006-2 Earnout/Holdback List

             Loan #                  Property
             ------                  --------
             13139               Greenhouse Square
             14898                 Alico Storage
            20061306           The Glen Town Center
            20051335         Houston & Orchard Retail
            20061346       Fairfield Inn & Suites-Tifton

<PAGE>

NOTICE TO RECIPIENT

The asset-backed securities referred to in these materials, and the asset pools
backing them, are subject to modification or revision (including the possibility
that one or more classes of securities may be split, combined or eliminated at
any time prior to issuance or availability of a final prospectus) and are
offered on a "when, as and if issued" basis. You understand that, when you are
considering the purchase of these securities, a contract of sale will come into
being no sooner than the date on which the relevant class has been priced and we
have confirmed the allocation of securities to be made to you; any "indications
of interest" expressed by you, and any "soft circles" generated by us, will not
create binding contractual obligations for you or us.

Because the asset-backed securities are being offered on a "when, as and if
issued" basis, any such contract will terminate, by its terms, without any
further obligation or liability between us, if the securities themselves, or the
particular class to which the contract relates, are not issued. Because the
asset-backed securities are subject to modification or revision, any such
contract also is conditioned upon the understanding that no material change will
occur with respect to the relevant class of securities prior to the closing
date. If a material change does occur with respect to such class, our contract
will terminate, by its terms, without any further obligation or liability
between us (the "Automatic Termination"). If an Automatic Termination occurs, we
will provide you with revised offering materials reflecting the material change
and give you an opportunity to purchase such class. To indicate your interest in
purchasing the class, you must communicate to us your desire to do so within
such timeframe as may be designated in connection with your receipt of the
revised offering materials.

The information contained in these materials may be based on assumptions
regarding market conditions and other matters as reflected herein. Banc of
America Securities LLC (the "Underwriter") makes no representation regarding the
reasonableness of such assumptions or the likelihood that any such assumptions
will coincide with actual market conditions or events, and these materials
should not be relied upon for such purposes. The Underwriter and its affiliates,
officers, directors, partners and employees, including persons involved in the
preparation or issuance of these materials, may, from time to time, have long or
short positions in, and buy and sell, the securities mentioned herein or
derivatives thereof (including options). Information in these materials is
current as of the date appearing on the material only. Information in these
materials regarding any securities discussed herein supersedes all prior
information regarding such securities. These materials are not to be construed
as an offer to sell or the solicitation of any offer to buy any security in any
jurisdiction where such an offer or solicitation would be illegal.

The issuer has filed a registration statement (including a prospectus) with the
SEC for the offering to which this communication relates. Before you invest, you
should read the prospectus in that registration statement and other documents
the issuer has filed with the SEC for more complete information about the issuer
and this offering. You may get these documents for free by visiting EDGAR on the
SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any
dealer participating in the offering will arrange to send you the prospectus if
you request it by calling toll-free 1-800-294-1322 or you e-mail a request to
dg.prospectus_distribution@bofasecurities.com. The securities may not be
suitable for all investors. Banc of America Securities LLC and its affiliates
may acquire, hold or sell positions in these securities, or in related
derivatives, and may have an investment or commercial banking relationship with
the issuer.

IRS CIRCULAR 230 NOTICE: THIS FREE WRITING PROSPECTUS IS NOT INTENDED OR WRITTEN
TO BE USED, AND CANNOT BE USED, FOR THE PURPOSE OF AVOIDING U.S. FEDERAL, STATE
OR LOCAL TAX PENALTIES. THIS FREE WRITING PROSPECTUS IS WRITTEN AND PROVIDED BY
THE UNDERWRITERS IN CONNECTION WITH THE PROMOTION OR MARKETING OF THE
TRANSACTIONS OR MATTERS ADDRESSED HEREIN. INVESTORS SHOULD SEEK ADVICE BASED ON
THEIR PARTICULAR CIRCUMSTANCES FROM AN INDEPENDENT TAX ADVISOR.sec document

                                                                     Exhibit 4.1

                            FORM OF RIGHT CERTIFICATE

Certificate No. R-__________________                    _________________ Rights

         NOT EXERCISABLE AFTER JULY 10, 2016 OR EARLIER IF REDEEMED, EXCHANGED
OR AMENDED. THE RIGHTS ARE SUBJECT TO REDEMPTION, EXCHANGE AND AMENDMENT AT THE
OPTION OF THE COMPANY, ON THE TERMS SET FORTH IN THE RIGHTS AGREEMENT. UNDER
CERTAIN CIRCUMSTANCES SPECIFIED IN THE RIGHTS AGREEMENT, RIGHTS THAT ARE OR WERE
BENEFICIALLY OWNED BY AN ACQUIRING PERSON OR AN AFFILIATE OR AN ASSOCIATE OF AN
ACQUIRING PERSON (AS SUCH TERMS ARE DEFINED IN THE RIGHTS AGREEMENT) OR A
TRANSFEREE THEREOF MAY BECOME NULL AND VOID.

                                Right Certificate

                        NEW CENTURY EQUITY HOLDINGS CORP.

         This certifies that ___________________________, or registered assigns,
is the registered owner of the number of Rights set forth above, each of which
entitles the owner thereof, subject to the terms, provisions, and conditions of
the Rights Agreement, dated as of July 10, 2006 (the "RIGHTS Agreement"),
between New Century Equity Holdings Corp., a Delaware corporation (the
"COMPANY"), and The Bank of New York Trust Company, N.A. (the "RIGHTS AGENT"),
to purchase from the Company at any time after the Distribution Date (as such
term is defined in the Rights Agreement) and prior to 5:00 p.m. (Central time)
on the Expiration Date (as such term is defined in the Rights Agreement) at the
principal office or offices of the Rights Agent designated for such purpose, one
one-hundredth of a fully paid nonassessable share of Series A Junior
Participating Preferred Stock, par value $0.01 per share (the "PREFERRED
SHARES"), of the Company, at a purchase price of $10.00 per one one-hundredth of
a Preferred Share (the "PURCHASE PRICE"), upon presentation and surrender of
this Right Certificate with the Form of Election to Purchase and related
Certificate duly executed. If this Right Certificate is exercised in part, the
holder will be entitled to receive upon surrender hereof another Right
Certificate or Right Certificates for the number of whole Rights not exercised.
The number of Rights evidenced by this Right Certificate (and the number of one
one-hundredths of a Preferred Share which may be purchased upon exercise
thereof) set forth above, and the Purchase Price set forth above, are the number
and Purchase Price as of the date of the Rights Agreement, based on the
Preferred Shares as constituted at such date.

         As provided in the Rights Agreement, the Purchase Price and/or the
number and/or kind of securities issuable upon the exercise of the Rights
evidenced by this Right Certificate are subject to adjustment upon the
occurrence of certain events.

         This Right Certificate is subject to all of the terms, provisions and
conditions of the Rights Agreement, which terms, provisions and conditions are
hereby incorporated herein by reference and made a part hereof and to which

                                        1

Rights Agreement reference is hereby made for a full description of the rights,
limitations of rights, obligations, duties and immunities of the Rights Agent,
the Company and the holders of the Right Certificates, which limitations of
rights include the temporary suspension of the exercisability of the Rights
under the circumstances specified in the Rights Agreement. Copies of the Rights
Agreement are on file at the abovementioned office of the Rights Agent and can
be obtained from the Company without charge upon written request therefor. Terms
used herein with initial capital letters and not defined herein are used herein
with the meanings ascribed thereto in the Rights Agreement.

         Pursuant to the Rights Agreement, from and after the occurrence of a
Flip-in Event, any Rights that are Beneficially Owned by (i) any Acquiring
Person (or any Affiliate or Associate of any Acquiring Person), (ii) a
transferee of any Acquiring Person (or any such Affiliate or Associate) who
becomes a transferee after the occurrence of a Flip-in Event, or (iii) a
transferee of any Acquiring Person (or any such Affiliate or Associate) who
became a transferee prior to or concurrently with the Flip-in Event pursuant to
either (a) a transfer from an Acquiring Person to holders of its equity
securities or to any Person with whom it has any continuing agreement,
arrangement or understanding regarding the transferred Rights or (b) a transfer
which the Board of Directors of the Company has determined is part of a plan,
arrangement or understanding which has the purpose or effect of avoiding certain
provisions of the Rights Agreement, and subsequent transferees of any of such
Persons, will be void without any further action and any holder of such Rights
will thereafter have no rights whatsoever with respect to such Rights under any
provision of the Rights Agreement. From and after the occurrence of a Flip-in
Event, no Right Certificate will be issued that represents Rights that are or
have become void pursuant to the provisions of the Rights Agreement, and any
Right Certificate delivered to the Rights Agent that represents Rights that are
or have become void pursuant to the provisions of the Rights Agreement will be
canceled.

         This Right Certificate, with or without other Right Certificates, may
be transferred, split up, combined or exchanged for another Right Certificate or
Right Certificates entitling the holder to purchase a like number of one
one-hundredths of a Preferred Share (or other securities, as the case may be) as
the Right Certificate or Right Certificates surrendered entitled such holder (or
former holder in the case of a transfer) to purchase, upon presentation and
surrender hereof at the principal office of the Rights Agent designated for such
purpose, with the Form of Assignment (if appropriate) and the related
Certificate duly executed.

         Subject to the provisions of the Rights Agreement, the Rights evidenced
by this Certificate may be redeemed by the Company at its option at a redemption
price of $0.01 per Right or may be exchanged in whole or in part. The Rights
Agreement may be supplemented and amended by the Company, as provided therein.

         The Company is not required to issue fractions of Preferred Shares
(other than fractions which are integral multiples of one one-hundredth of a
Preferred Share, which may, at the option of the Company, be evidenced by
depositary receipts) or other securities issuable upon the exercise of any Right
or Rights evidenced hereby. In lieu of issuing such fractional Preferred Shares
or other securities, the Company may make a cash payment, as provided in the
Rights Agreement.

                                       2

         No holder of this Right Certificate, as such, will be entitled to vote
or receive dividends or be deemed for any purpose the holder of the Preferred
Shares or of any other securities of the Company which may at any time be
issuable upon the exercise of the Right or Rights represented hereby, nor will
anything contained herein or in the Rights Agreement be construed to confer upon
the holder hereof, as such, any of the rights of a stockholder of the Company or
any right to vote for the election of directors or upon any matter submitted to
stockholders at any meeting thereof, or to give or withhold consent to any
corporate action, or to receive notice of meetings or other actions affecting
stockholders (except as provided in the Rights Agreement), or to receive
dividends or subscription rights, or otherwise, until the Right or Rights
evidenced by this Right Certificate have been exercised in accordance with the
provisions of the Rights Agreement.

         This Right Certificate will not be valid or obligatory for any purpose
until it has been countersigned by the Rights Agent.

         WITNESS the facsimile signature of the proper officers of the Company
and its corporate seal.

Dated as of               .
            --------------

ATTEST:                             NEW CENTURY EQUITY HOLDINGS CORP.

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

Countersigned:

THE BANK OF NEW YORK TRUST
COMPANY, N.A., Rights Agent

By:
    -----------------------
    Authorized Signature

                                       3

                    Form of Reverse Side of Right Certificate

                               FORM OF ASSIGNMENT

                (To be executed by the registered holder if such
                holder desires to transfer the Right Certificate)

         FOR VALUE RECEIVED, __________ hereby sells, assigns and transfers unto

--------------------------------------------------------------------------------
                  (Please print name and address of transferee)

--------------------------------------------------------------------------------
this Right Certificate, together with all right, title and interest therein, and
does hereby irrevocably constitute and appoint ___________ Attorney, to transfer
the within Right Certificate on the books of the within-named Company, with full
power of substitution.

Dated :
        -------------------

                                    --------------------------------------------
                                    Signature

Signature Guaranteed:
                      -----------------------

                                       4

                                   CERTIFICATE

         The undersigned hereby certifies by checking the appropriate boxes
that:

         (1)      the Rights evidenced by this Right Certificate [ ] are [ ] are
not being sold, assigned, transferred, split up, combined or exchanged by or on
behalf of a Person who is or was an Acquiring Person or an Affiliate or
Associate of any such Person (as such terms are defined in the Rights
Agreement);

         (2)      after due inquiry and to the best knowledge of the
undersigned, it [ ] did [ ] did not acquire the Rights evidenced by this Right
Certificate from any Person who is, was or became an Acquiring Person or an
Affiliate or Associate of an Acquiring Person.

Dated :
        -------------------

                                    --------------------------------------------
                                    Signature

                                       5

                          FORM OF ELECTION TO PURCHASE

                      (To be executed if holder desires to
                         exercise the Right Certificate)

To New Century Equity Holdings Corp.:

         The undersigned hereby irrevocably elects to exercise ___________
Rights represented by this Right Certificate to purchase the one one-hundredths
of a Preferred Share or other securities issuable upon the exercise of such
Rights and requests that certificates for such securities be issued in the name
of and delivered to:

Please insert social
security or other identifying number:
                                      ------------------------------------------

--------------------------------------------------------------------------------
                         (Please print name and address)

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

If such number of Rights is not all the Rights evidenced by this Right
Certificate, a new Right Certificate for the balance remaining of such Rights
will be registered in the name of and delivered to:

Please insert social
security or other identifying number:
                                      ------------------------------------------

--------------------------------------------------------------------------------
                         (Please print name and address)

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

Dated :
        -------------------

                                    --------------------------------------------
                                    Signature

Signature Guaranteed:
                      -----------------------

                                       6

                                   CERTIFICATE

         The undersigned hereby certifies by checking the appropriate boxes
that:

         (1)      the Rights evidenced by this Right Certificate [ ] are [ ] are
not being exercised by or on behalf of a Person who is or was an Acquiring
Person or an Affiliate or Associate of any such Person (as such terms are
defined pursuant to the Rights Agreement);

         (2)      after due inquiry and to the best knowledge of the
undersigned, it [ ] did [ ] did not acquire the Rights evidenced by this Right
Certificate from any Person who is, was, or became an Acquiring Person or an
Affiliate or Associate of an Acquiring Person.

Dated :
        -------------------

                                    --------------------------------------------
                                    Signature

                                     NOTICE

         SIGNATURES ON THE FOREGOING FORM OF ASSIGNMENT AND FORM OF ELECTION TO
PURCHASE AND IN THE RELATED CERTIFICATES MUST CORRESPOND TO THE NAME AS WRITTEN
UPON THE FACE OF THIS RIGHT CERTIFICATE IN EVERY PARTICULAR, WITHOUT ALTERATION
OR ENLARGEMENT OR ANY CHANGE WHATSOEVER.

         SIGNATURES MUST BE GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION
(BANKS, STOCKBROKERS, SAVINGS AND LOAN ASSOCIATIONS AND CREDIT UNIONS WITH
MEMBERSHIP IN AN APPROVED MEDALLION SIGNATURE PROGRAM) PURSUANT TO RULE 17AD-15
UNDER THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED.

                                       7

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