EXECUTION COPY
MORTGAGE LOAN PURCHASE AGREEMENT
Mortgage Loan Purchase Agreement, dated as of November 1, 1997 (the
"Agreement"), between Xxxxxx Brothers Holdings Inc. (the "Seller") and First
Union Commercial Mortgage Securities, Inc. (the "Purchaser").
The Seller intends to sell and the Purchaser intends to purchase certain
multifamily and commercial mortgage loans (the "LBHI Mortgage Loans") as
provided herein. The Purchaser intends to deposit them, together with the First
Union Mortgage Loans (as defined below), into a trust fund (the "Trust Fund"),
the beneficial ownership of which will be evidenced by multiple classes (each, a
"Class") of mortgage pass-through certificates (the "Certificates"). One or more
"real estate mortgage investment conduit" ("REMIC") elections will be made with
respect to the Trust Fund. The Trust Fund will be created and the Certificates
will be issued pursuant to a Pooling and Servicing Agreement (the "Pooling and
Servicing Agreement"), dated as of November 1, 1997 (the "Cut-off Date"), among
the Purchaser as depositor, First Union National Bank as master servicer (in
such capacity, the "Master Servicer"), CRIIMI MAE Services Limited Partnership
as special servicer (in such capacity, the "Special Servicer"), LASALLE NATIONAL
BANK as trustee (the "Trustee") and ABN AMRO Bank N.V. as fiscal agent (the
"Fiscal Agent"). Concurrently with the purchase of Mortgage Loans pursuant to
this Agreement, the Purchaser will also purchase multifamily and commercial
mortgage loans pursuant to a Mortgage Loan Purchase Agreement, dated as of
November 1, 1997, between First Union National Bank and the Purchaser (the
"First Union Agreement"). Such mortgage loans (the "First Union Mortgage Loans")
will likewise be deposited into the Trust Fund. Capitalized terms used but not
defined herein have the respective meanings set forth in the Pooling and
Servicing Agreement.
Now, therefore, in consideration of the premises and the mutual agreements
set forth herein, the parties agree as follows:
SECTION 1. Agreement to Purchase.
(a) The Seller agrees to sell, and the Purchaser agrees to purchase, the
LBHI Mortgage Loans identified on the schedule (the "Mortgage Loan Schedule")
annexed hereto as Exhibit A. The Mortgage Loan Schedule may be amended to
reflect the actual Mortgage Loans accepted by the Purchaser pursuant to the
terms hereof. The LBHI Mortgage Loans will have an aggregate principal balance
of $1,097,817,189.31 (the "LBHI Balance") as of the close of business on the
Cut-off Date, after giving effect to any payments due on or before such date
whether or not received. The LBHI Balance and the First Union Balance (as
defined in the First Union Agreement) together equal an aggregate principal
balance (the "Initial Pool Balance") of $2,203,502,325. The purchase and sale of
the LBHI Mortgage Loans shall take place on November 25, 1997 or such other date
as shall be mutually acceptable to the parties hereto (the "Closing Date"). The
consideration for the LBHI Mortgage Loans shall consist of (A) a cash amount
equal to 100% of the LBHI Balance, plus (B) interest accrued on each LBHI
Mortgage Loan at the related Net Mortgage Rate, for the period from and
including the Cut-off Date up to but not including the Closing Date, which cash
amount shall be paid to the Seller or its designee by wire transfer in
immediately available funds on the Closing Date.
The Purchaser will assign to the Trustee, all of its right, title and
interest in and to the LBHI Mortgage Loans.
SECTION 2. Conveyance of Mortgage Loans.
(a) Effective as of the Closing Date, subject only to receipt of the
purchase price referred to in Section 1 hereof, the Seller does hereby sell,
transfer, assign, set over and otherwise convey to the Purchaser, without
recourse, all the right, title and interest of the Seller in and to the LBHI
Mortgage Loans identified on the Mortgage Loan Schedule as of such date other
than (i) the primary servicing rights, and (ii) with respect to the Mortgage
Loan bearing loan number 55, all payments with respect to the interest to accrue
in excess of 7.50%. The Mortgage Loan Schedule, as it may be amended, shall
conform to the requirements set forth in this Agreement and the Pooling and
Servicing Agreement.
(b) The Purchaser or its assignee shall be entitled to receive all
scheduled payments of principal and interest due after the Cut-off Date, and all
other recoveries of principal and interest collected after the Cut-off Date
(other than in respect of principal and interest on the LBHI Mortgage Loans due
on or before the Cut-off Date). All scheduled payments of principal and interest
due on or before the Cut-off Date but collected after the Cut-off Date, and
recoveries of principal and interest collected on or before the Cut-off Date
(only in respect of principal and interest on the LBHI Mortgage Loans due on or
before the Cut-off Date), shall belong to, and be promptly remitted to, the
Seller.
(c) The Seller hereby represents and warrants that it has, on behalf of the
Purchaser, delivered to the Trustee, the documents and instruments specified
below with respect to each LBHI Mortgage Loan (each a "Mortgage File"). All
Mortgage Files so delivered will be held by the Trustee in escrow at all times
prior to the Closing Date. Each Mortgage File shall, except as otherwise
disclosed on Exhibit B hereto, contain the following documents:
(i) the original executed Mortgage Note, endorsed (without recourse,
representation or warranty,
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express or implied) to the order of LASALLE NATIONAL BANK, as
trustee for the registered holders of the First Union-Xxxxxx
Brothers Commercial Mortgage Trust II, Commercial Mortgage
Pass-Through Certificates, Series 1997-C2;
(ii) an original or copy of the Mortgage and of any intervening
assignments thereof, in each case with evidence of recording
indicated thereon;
(iii) an original or copy of any related Assignment of Leases and of
any intervening assignments thereof (with recording information
indicated thereon), if such item is a document separate from the
Mortgage;
(iv) an original executed assignment of the Mortgage, any related
Assignment of Leases (if such item is a document separate from
the Mortgage), and any other recorded document relating to the
Mortgage Loan otherwise included in the Mortgage File, in favor
of LASALLE NATIONAL BANK, as trustee for the registered holders
of the First Union-Xxxxxx Brothers Commercial Mortgage Trust II,
Commercial Mortgage Pass-Through Certificates, Series 1997-C2, in
recordable form;
(v) an original assignment of all unrecorded documents relating to
the Mortgage Loan in favor of LASALLE NATIONAL BANK, as trustee
for the registered holders of the First Union-Xxxxxx Brothers
Commercial Mortgage Trust II, Commercial Mortgage Pass-Through
Certificates, Series 1997-C2;
(vi) originals or copies of any written modification agreements in
those instances where the terms or provisions of the Mortgage or
Mortgage Note have been modified;
(vii) the original or a copy of the policy or certificate of lender's
title insurance issued on the date of the origination of such
Mortgage Loan, or, if such policy has not been issued, an
irrevocable, binding commitment to issue such title insurance
policy; and
(viii) filed copies (with evidence of filing) 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 Seller had possession of such
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UCC Financing Statements prior to the Closing Date) and, if there
is an effective UCC Financing Statement in favor of the Seller on
record with the applicable public office for UCC Financing
Statements, an original UCC-2 or UCC-3, as appropriate, in favor
of LASALLE NATIONAL BANK, as trustee for the registered holders
of the First Union-Xxxxxx Brothers Commercial Mortgage Trust II,
Commercial Mortgage Pass-Through Certificates, Series 1997-C2.
(d) Within 30 days following the Closing Date, the Purchaser shall
submit or cause to be submitted for recordation or filing, as the case may
be, in the appropriate public office for real property records or Uniform
Commercial Code financing statements, as appropriate, each assignment of
Mortgage and each assignment of Assignment of Leases referred to in clauses
(iv) and (v) of subsection (c) above and each UCC-2 and UCC-3 in favor of
and delivered to the Trustee constituting part of the Mortgage File. If any
such document or instrument is lost or returned unrecorded or unfiled, as
the case may be, because of a defect therein, then the Seller shall prepare
a substitute therefor or cure such defect or cause such to be done, as the
case may be, and the Seller shall deliver such substitute or corrected
document or instrument to the Purchaser or its designee.
(e) All documents and records relating to the LBHI Mortgage Loans and
in the Seller's possession (the "Additional Mortgage Loan Documents") that
are not required to be delivered to the Trustee shall be delivered or
caused to be delivered by the Seller to the Master Servicer or at the
direction of the Master Servicer to the appropriate sub-servicer, together
with any related escrow amounts and reserve amounts.
SECTION 3. Representations, Warranties and Covenants of Seller.
(a) The Seller hereby represents and warrants to and covenants with the
Purchaser, as of the date hereof, that:
(i) The Seller is a corporation validly existing under the laws of the
State of Delaware and possesses all requisite authority, power, licenses,
permits and franchises to carry on its business as currently conducted by
it and to execute, deliver and comply with its obligations under the terms
of this Agreement.
(ii) This Agreement has been duly and validly authorized, executed and
delivered by the Seller and, assuming due authorization, execution and
delivery hereof by the Purchaser, constitutes a legal, valid and binding
obligation of the Seller, enforceable against the Seller in accordance with
its terms, except as such enforcement may be limited by bankruptcy,
insolvency, reorganization,
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moratorium and other laws affecting the enforcement of creditors' rights in
general, and by general equity principles (regardless of whether such
enforcement is considered in a proceeding in equity or at law), or by
public policy considerations underlying the securities laws, to the extent
that such public policy considerations limit the enforceability of the
provisions of this Agreement which purport to provide indemnification from
liabilities under applicable securities laws.
(iii) The execution and delivery of this Agreement by the Seller and
the Seller's performance and compliance with the terms of this Agreement
will not (A) violate the Seller's Certificate of Incorporation or By-Laws,
(B) violate any law or regulation or any administrative decree or order to
which it is subject or (C) constitute a default (or an event which, with
notice or lapse of time, or both, would constitute a default) under, or
result in the breach of, any material contract, agreement or other
instrument to which the Seller is a party or by which the Seller is bound.
(iv) The Seller is not in default with respect to any order or decree
of any court or any order, regulation or demand of any federal, state,
municipal or other governmental agency or body, which default might have
consequences that would, in the Seller's reasonable and good faith
judgment, materially and adversely affect the condition (financial or
other) or operations of the Seller or its properties or have consequences
that would materially and adversely affect its performance hereunder.
(v) The Seller is not a party to or bound by any agreement or
instrument or subject to any articles of incorporation, bylaws or any other
corporate restriction or any judgment, order, writ, injunction, decree, law
or regulation that would, in the Seller's reasonable and good faith
judgment, materially and adversely affect the ability of the Seller to
perform its obligations under this Agreement or that requires the consent
of any third person to the execution of this Agreement or the performance
by the Seller of its obligations under this Agreement.
(vi) No consent, approval, authorization or order of any court or
governmental agency or body is required for the execution, delivery and
performance by the Seller of or compliance by the Seller with this
Agreement or the consummation of the transactions contemplated by this
Agreement and no bulk sale law applies to such transactions.
(vi) No litigation is pending or, to the best of the Seller's
knowledge, threatened against the Seller that would, in the Seller's good
faith and reasonable judgment, prohibit its entering into this Agreement or
materially and
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adversely affect the performance by the Seller of its obligations under
this Agreement.
(viii) Under generally accepted accounting principles ("GAAP") and for
federal income tax purposes, the Seller will report the transfer of the
LBHI Mortgage Loans to the Purchaser as a sale of the LBHI Mortgage Loans
to the Purchaser in exchange for consideration consisting of (A) a cash
amount equal to 100% of the LBHI Balance, plus (B) interest accrued on each
LBHI Mortgage Loan at the related Net Mortgage Rate, for the period from
and including the Cut-off Date up to but not including the Closing Date.
The consideration received by the Seller upon the sale of the LBHI Mortgage
Loans to the Purchaser will constitute reasonably equivalent value and fair
consideration for the LBHI Mortgage Loans. The Seller will be solvent at
all relevant times prior to, and will not be rendered insolvent by, the
sale of the LBHI Mortgage Loans to the Purchaser. The Seller is not selling
the LBHI Mortgage Loans to the Purchaser with any intent to hinder, delay
or defraud any of the creditors of the Seller.
(b) The Seller hereby makes the representations and warranties contained in
Schedule I hereto for the benefit of the Purchaser and the Trustee for the
benefit of the Certificateholders as of the Closing Date, with respect to (and
solely with respect to) each LBHI Mortgage Loan. References in such
representations and warranties to "Mortgage Loan" and "Mortgage Loans" shall be
deemed to mean "LBHI Mortgage Loan" and "LBHI Mortgage Loans," respectively.
(c) If the Seller receives notice of a Document Defect or a Breach relating
to an LBHI Mortgage Loan (the "Defect/Breach Notice"), then the Seller shall
within 90 days after its receipt of the Defect/Breach Notice (or in the case of
a Document Defect or Breach relating to a Mortgage Loan not being a "qualified
mortgage" within the meaning of the REMIC Provisions, not later than 90 days of
any party discovering such Document Defect or Breach) (i) cure such Document
Defect or Breach, as the case may be, in all material respects, which shall
include payment of any Additional Trust Fund Expenses associated therewith, or
(ii) repurchase the affected LBHI Mortgage Loan (or the related Mortgaged
Property) from the Trustee pursuant to the Pooling and Servicing Agreement, at a
price equal to the Purchase Price; provided, however, that if such Document
Defect or Breach is capable of being cured but not within such 90-day period,
such Document Defect would not prevent the Mortgage Loan from being treated as a
"qualified mortgage" within the meaning of the REMIC Provisions and the Seller
has commenced and is diligently proceeding with the cure of such Document Defect
or Breach within such 90-day period, the Seller shall have an additional 90 days
to complete such cure (or, in the event of a failure to so cure, to complete
such repurchase); and provided, further, that with respect to such additional
90-day period the Seller shall have
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delivered an Officer's Certificate to the Trustee setting forth the reason such
Document Defect or Breach is not capable of being cured within the initial
90-day period and what actions the Seller is pursuing in connection with the
cure thereof and stating that the Seller anticipates that such breach will be
cured within the additional 90-day period. Notwithstanding the foregoing, the
delivery of a commitment to issue a policy of lender's title insurance as
described in clause (xii) of Schedule I hereof in lieu of the delivery of the
actual policy of lender's title insurance shall not be considered a Document
Defect with respect to any Mortgage File if such actual policy of insurance is
delivered to the Trustee or a Custodian on its behalf not later than the 90th
day following the Closing Date.
(d) If upon the second anniversary of the Closing Date the Seller receives
notice that exceptions remain outstanding with respect to any Mortgage Loan,
pursuant to Section 2.02(b) of the Pooling and Servicing Agreement, the Seller
shall, within 90 days of such anniversary: (i) cure such exception, (ii)
repurchase the affected Mortgage Loan, or (iii) deliver to the Trustee an
Opinion of Counsel to the effect that such defect does not materially and
adversely affect the Certificateholders.
SECTION 4. Representations and Warranties of the Purchaser. In order to induce
the Seller to enter into this Agreement, the Purchaser hereby represents and
warrants for the benefit of the Seller as of the date hereof that:
(a) The Purchaser is a corporation duly organized, validly existing and in
good standing under the laws of the State of North Carolina. The Purchaser has
the full corporate power and authority and legal right to acquire the LBHI
Mortgage Loans from the Seller and to transfer the LBHI Mortgage Loans to the
Trustee.
(b) This Agreement has been duly and validly authorized, executed and
delivered by the Purchaser, all requisite action by the Purchaser's directors
and officers has been taken in connection therewith, and (assuming the due
authorization, execution and delivery hereof by the Seller) this Agreement
constitutes the valid, legal and binding agreement of the Purchaser, enforceable
against the Purchaser in accordance with its terms, except as such enforcement
may be limited by (A) laws relating to bankruptcy, insolvency, reorganization,
receivership or moratorium, (B) other laws relating to or affecting the rights
of creditors generally, or (C) general equity principles (regardless of whether
such enforcement is considered in a proceeding in equity or at law).
(c) Except as may be required under federal or state securities laws (and
which will be obtained on a timely basis), no consent, approval, authorization
or order of, registration or filing with, or notice to, any governmental
authority or court, is required, under federal or state law, for the execution,
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delivery and performance by the Purchaser of or compliance by the Purchaser with
this Agreement, or the consummation by the Purchaser of any transaction
described in this Agreement.
(d) None of the acquisition of the LBHI Mortgage Loans by the Purchaser,
the transfer of the LBHI Mortgage Loans to the Trustee, and the execution,
delivery or performance of this Agreement by the Purchaser, conflicts or will
conflict with, results or will result in a breach of, or constitutes or will
constitute a default under (A) any term or provision of the Purchaser's Articles
of Incorporation or Bylaws, (B) any term or provision of any material agreement,
contract, instrument or indenture, to which the Purchaser is a party or by which
the Purchaser is bound, or (C) any law, rule, regulation, order, judgment, writ,
injunction or decree of any court or governmental authority having jurisdiction
over the Purchaser or its assets.
(e) Under GAAP and for federal income tax purposes, the Purchaser will
report the transfer of the LBHI Mortgage Loans by the Seller to the Purchaser as
a sale of the LBHI Mortgage Loans to the Purchaser in exchange for consideration
consisting of (A) a cash amount equal to 100% of the LBHI Balance, plus (B)
interest accrued on each LBHI Mortgage Loan at the related Net Mortgage Rate,
for the period from and including the Cut-off Date up to but not including the
Closing Date.
SECTION Closing. The closing of the sale of the LBHI Mortgage Loans (the
"Closing") shall be held at the offices of Xxxxxxx Xxxx & Xxxxxxxxx, One
Citicorp Center, 000 Xxxx 00xx Xxxxxx, Xxx Xxxx, Xxx Xxxx 00000 at 10:00 A.M.,
New York time, on the Closing Date.
The Closing shall be subject to each of the following conditions:
(a) All of the representations and warranties of the Seller set forth
in or made pursuant to Sections 3(a) and 3(b) of this Agreement and all of
the representations and warranties of the Purchaser set forth in Section 4
of this Agreement shall be true and correct in all material respects as of
the Closing Date; provided, however, that any material inaccuracy in any
representation and warranty set forth in or made pursuant to Section 3(b)
shall not affect the Purchaser's obligation to purchase the Mortgage Loans
not affected by such inaccuracy;
(b) All documents specified in Section 6 of this Agreement (the
"Closing Documents"), in such forms as are agreed upon and acceptable to
the Purchaser in its reasonable discretion, shall be duly executed and
delivered by all signatories as required pursuant to the respective terms
thereof;
(c) The Seller shall have delivered and released to the Trustee (or a
Custodian on its behalf) and the Master Servicer, respectively, all
documents represented to have been or
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required to be delivered to the Trustee and the Master Servicer pursuant to
Section 2 of this Agreement;
(d) All other terms and conditions of this Agreement required to be
complied with on or before the Closing Date shall have been complied with
in all material respects and the Seller shall have the ability to comply
with all terms and conditions and perform all duties and obligations
required to be complied with or performed after the Closing Date; and
(e) The Seller shall have paid all fees and expenses payable by it to
the Purchaser or otherwise pursuant to this Agreement.
Both parties agree to use their best efforts to perform their respective
obligations hereunder in a manner that will enable the Purchaser to purchase the
LBHI Mortgage Loans on the Closing Date.
SECTION 6. Closing Documents. The Closing Documents shall consist of the
following:
(a) This Agreement duly executed by the Purchaser and the Seller;
(b) A Certificate of the Seller, executed by a duly authorized officer of
the Seller and dated the Closing Date, and upon which the Purchaser and the
Underwriters may rely, to the effect that: (i) the representations and
warranties of the Seller in this Agreement are true and correct in all material
respects at and as of the Closing Date with the same effect as if made on such
date; and (ii) the Seller has, in all material respects, complied with all the
agreements and satisfied all the conditions on its part that are required under
this Agreement to be performed or satisfied at or prior to the date hereof;
(c) An Officer's Certificate from an officer of the Seller, in his or her
individual capacity, dated the Closing Date, and upon which the Purchaser may
rely, to the effect that each individual who, as an officer or representative of
the Seller, signed this Agreement or any other document or certificate delivered
on or before the Closing Date in connection with the transactions contemplated
herein, was at the respective times of such signing and delivery, and is as of
the Closing Date, duly elected or appointed, qualified and acting as such
officer or representative, and the signatures of such persons appearing on such
documents and certificates are their genuine signatures;
(d) An Officer's Certificate from an officer of the Seller, in his or her
individual capacity, dated the Closing Date, and upon which the Purchaser and
the Underwriters may rely, to the effect that (i) such officer has carefully
examined the Prospectus and nothing has come to his attention that would lead
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him to believe that the Prospectus, as of the date of the Prospectus Supplement
or as of the Closing Date, included or includes any untrue statement of a
material fact relating to the LBHI Mortgage Loans or omitted or omits to state
therein a material fact necessary in order to make the statements therein
relating to the LBHI Mortgage Loans, in light of the circumstances under which
they were made, not misleading, and (ii) such officer has examined the
Memorandum and nothing has come to his attention that would lead him to believe
that the Memorandum, as of the date thereof or as of the Closing Date, included
or includes any untrue statement of a material fact relating to the LBHI
Mortgage Loans or omitted or omits to state therein a material fact necessary in
order to make the statements therein related to the LBHI Mortgage Loans, in the
light of the circumstances under which they were made, not misleading.
(e) The resolutions of the board of directors authorizing the Seller's
entering into the transactions contemplated by this Agreement, the certificate
of incorporation and by-laws of the Seller, and a certificate of good standing
of the Seller issued by the Secretary of State of the State of Delaware not
earlier than sixty (60) days prior to the Closing Date;
(f) A written opinion of counsel for the Seller, in form and substance
acceptable to the Purchaser and its counsel, with any modifications required by
the rating agencies identified in the Prospectus Supplement (the "Rating
Agencies"), dated the Closing Date and addressed to the Purchaser, the
Underwriters and each of the Rating Agencies, together with such other written
opinions as may be required by the Rating Agencies; and
(g) Such further certificates, opinions and documents as the Purchaser may
reasonably request.
SECTION 7. Indemnification.
(a) The Seller shall indemnify and hold harmless the Purchaser, the
Underwriters, their respective officers and directors, and each person, if any,
who controls the Purchaser or any Underwriter within the meaning of either
Section 15 of the Securities Act of 1933, as amended (the "1933 Act") or Section
20 of the Securities Exchange Act of 1934, as amended (the "1934 Act"), against
any and all losses, claims, damages or liabilities, joint or several, to which
they or any of them may become subject under the 1933 Act, the 1934 Act or other
federal or state statutory law or regulation, at common law or otherwise,
insofar as such losses, claims, damages or liabilities (or actions in respect
thereof) (i) arise out of or are based upon any untrue statement or alleged
untrue statement of a material fact contained in (A) the Prospectus Supplement,
the Memorandum, the Diskette or, insofar as they are required to be filed as
part of the Registration Statement pursuant to the No-Action Letters, any
Computational Materials or ABS Term Sheets with respect to
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the Registered Certificates, or in any revision or amendment of or supplement to
any of the foregoing or (B) any items similar to Computational Materials and ABS
Term Sheets forwarded to prospective investors in the Non-Registered
Certificates, or (ii) arise out of or are based upon the omission or alleged
omission to state therein a material fact required to be stated therein or
necessary to make the statements therein, in the light of the circumstances
under which they were made, not misleading; but only if and to the extent that
(I) any such untrue statement or alleged untrue statement or omission or alleged
omission arises out of or is based upon an untrue statement or omission with
respect to the LBHI Mortgage Loans, the related Mortgagors and/or the related
Mortgaged Properties contained in the Master Tape (it being herein acknowledged
that the Master Tape was used to prepare the Prospectus Supplement including
without limitation Annex A thereto, the Memorandum, the Diskette, the
Computational Materials and ABS Term Sheets with respect to the Registered
Certificates and any items similar to Computational Materials and ABS Term
Sheets forwarded to prospective investors in the Non-Registered Certificates),
(II) any such untrue statement or alleged untrue statement or omission or
alleged omission is with respect to, or arises out of or is based upon an untrue
statement or omission with respect to, the information regarding the LBHI
Mortgage Loans, the related Mortgagors, the related Mortgaged Properties and/or
the Seller set forth (X) in the Prospectus Supplement and the Memorandum under
the headings "Summary of the Prospectus Supplement(The Mortgage Pool" or
"Summary of the Memorandum(The Mortgage Pool", as applicable, "Risk Factors(The
Mortgage Loans" and "Description of the Mortgage Pool" and (Y) on Annex A to the
Prospectus Supplement and, to the extent consistent therewith, on the Diskette,
or (III) any such untrue statement or alleged untrue statement or omission or
alleged omission arises out of or is based upon a breach of the representations
and warranties of the Seller set forth in or made pursuant to Section 3;
provided that the indemnification provided by this Section 7 shall not apply to
the extent that such untrue statement or omission was made as a result of an
error in the manipulation of, or in any calculations based upon, or in any
aggregation of the information regarding the LBHI Mortgage Loans, the related
Mortgagors and/or the related Mortgaged Properties set forth in the Master Tape
and Annex A to the Prospectus Supplement, including without limitation the
aggregation of such information with comparable information relating to the
First Union Mortgage Loans in the Trust Fund. This indemnity agreement will be
in addition to any liability which the Seller may otherwise have.
For purposes of this Agreement, "Registration Statement" shall mean the
registration statement No. 333-07854 filed by the Purchaser on Form S-3,
including without limitation exhibits thereto and information incorporated
therein by reference; "Prospectus" shall mean the prospectus dated October 29,
1997, as supplemented by the prospectus supplement dated
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November 19, 1997 (the "Prospectus Supplement"), relating to the Registered
Certificates including all annexes thereto; "Memorandum" shall mean the private
placement memorandum dated November 25, 1997, relating to the Non-Registered
Certificates; "Registered Certificates" shall mean the Class A-1, Class A-2,
Class A-3, Class B, Class C, Class D, Class E and Class IO Certificates;
"Non-Registered Certificates" shall mean the Certificates other than the
Registered Certificates; "Computational Materials" shall have the meaning
assigned thereto in the no-action letter dated May 20, 1994 issued by the
Division of Corporation Finance of the Securities and Exchange Commission (the
"Commission") to Xxxxxx, Xxxxxxx Acceptance Corporation I, Xxxxxx, Peabody & Co.
Incorporated, and Xxxxxx Structured Asset Corporation and the no-action letter
dated May 27, 1994 issued by the Division of Corporation Finance of the
Commission to the Public Securities Association (together, the "Xxxxxx
Letters"); "ABS Term Sheets" shall have the meaning assigned thereto in the
no-action letter dated February 17, 1995 issued by the Division of Corporation
Finance of the Commission to the Public Securities Association (the "PSA Letter"
and, together with the Xxxxxx letters, the "No-Action Letters"); "Diskette"
shall mean the diskette attached to each of the Prospectus and the Memorandum;
and "Master Tape" shall mean the compilation of information and data regarding
the LBHI Mortgage Loans and the First Union Mortgage Loans covered by the Agreed
Upon Procedures Letter dated November 19, 1997 and rendered by Deloitte & Touche
LLP (a "hard copy" of which Master Tape was initiated on behalf of the Seller
and the Purchaser).
(b) Promptly after receipt by any person entitled to indemnification under
this Section 7 (an "indemnified party") of notice of the commencement of any
action, such indemnified party will, if a claim in respect thereof is to be made
against the Seller (the "indemnifying party") under this Section 7, notify the
indemnifying party in writing of the commencement thereof; but the omission so
to notify the indemnifying party will not relieve it from any liability that it
may have to any indemnified party otherwise than under this Section 7. In case
any such action is brought against any indemnified party and it notifies the
indemnifying party of the commencement thereof, the indemnifying party will be
entitled to participate therein, and to the extent that it may elect by written
notice delivered to the indemnified party promptly after receiving the aforesaid
notice from such indemnified party, to assume the defense thereof, with counsel
satisfactory to such indemnified party; provided, however, that if the
defendants in any such action include both the indemnified party and the
indemnifying party and the indemnified party or parties shall have reasonably
concluded that there may be legal defenses available to it or them and/or other
indemnified parties that are different from or additional to those available to
the indemnifying party, the indemnified party or parties shall have the right to
select separate counsel to assert such legal defenses and to otherwise
participate in the defense of such action on behalf of such indemnified party or
12
parties. Upon receipt of notice from the indemnifying party to such indemnified
party of its election so to assume the defense of such action and approval by
the indemnified party of counsel, the indemnifying party will not be liable for
any legal or other expenses subsequently incurred by such indemnified party in
connection with the defense thereof, unless (i) the indemnified party shall have
employed separate counsel in connection with the assertion of legal defenses in
accordance with the proviso to the preceding sentence (it being understood,
however, that the indemnifying party shall not be liable for the expenses of
more than one separate counsel, approved by the Purchaser, representing all the
indemnified parties under Section 7(a) who are parties to such action), (ii) the
indemnifying party shall not have employed counsel satisfactory to the
indemnified party to represent the indemnified party within a reasonable time
after notice of commencement of the action or (iii) the indemnifying party has
authorized the employment of counsel for the indemnified party at the expense of
the indemnifying party; and except that, if clause (i) or (iii) is applicable,
such liability shall only be in respect of the counsel referred to in such
clause (i) or (iii).
(c) If the indemnification provided for in this Section 7 is unavailable to
an indemnified party under Section 7(a) hereof or insufficient in respect of any
losses, claims, damages or liabilities referred to therein, then the
indemnifying party, in lieu of indemnifying such indemnified party, shall
contribute to the amount paid or payable by such indemnified party as a result
of such losses, claims, damages or liabilities, in such proportion as is
appropriate to reflect the relative fault of the indemnified and indemnifying
parties in connection with the statements or omissions which resulted in such
losses, claims, damages or liabilities, as well as any other relevant equitable
considerations. The relative fault of the indemnified and indemnifying parties
shall be determined by reference to, among other things, whether the untrue or
alleged untrue statement of a material fact or the omission or alleged omission
to state a material fact relates to information supplied by such parties.
(d) The Purchaser and the Seller agree that it would not be just and
equitable if contribution pursuant to Section 7(c) were determined by pro rata
allocation or by any other method of allocation that does not take account of
the considerations referred to in Section 7(c) above. The amount paid or payable
by an indemnified party as a result of the losses, claims, damages and
liabilities referred to in this Section 7 shall be deemed to include, subject to
the limitations set forth above, any legal or other expenses reasonably incurred
by such indemnified party in connection with investigating or defending any such
action or claim, except where the indemnified party is required to bear such
expenses pursuant to this Section 7, which expenses the indemnifying party shall
pay as and when incurred, at the request of the indemnified party, to the extent
13
that the indemnifying party will be ultimately obligated to pay such expenses.
If any expenses so paid by the indemnifying party are subsequently determined to
not be required to be borne by the indemnifying party hereunder, the party that
received such payment shall promptly refund the amount so paid to the party
which made such payment. No person guilty of fraudulent misrepresentation
(within the meaning of Section 11(f) of the 0000 Xxx) shall be entitled to
contribution from any person who was not guilty of such fraudulent
misrepresentation.
(e) The indemnity and contribution agreements contained in this Section 7
shall remain operative and in full force and effect regardless of (i) any
termination of this Agreement, (ii) any investigation made by the Purchaser, the
Underwriters, any of their respective directors or officers, or any person
controlling the Purchaser or the Underwriters, and (iii) acceptance of and
payment for any of the Certificates.
(f) Without limiting the generality or applicability of any other provision
of this Agreement, the Underwriters shall be third-party beneficiaries of the
provisions of this Section 7.
SECTION 8. Costs. The Seller shall pay (or shall reimburse the Purchaser to the
extent that the Purchaser has paid) the Seller's pro rata portion of the
aggregate of the following amounts (the Seller's pro rata portion to be
determined according to the percentage that the LBHI Balance represents of the
Initial Pool Balance): (i) the costs and expenses of printing (or otherwise
reproducing) and delivering a preliminary and final Prospectus and Memorandum
relating to the Certificates; (ii) the initial fees, costs, and expenses of the
Trustee (including reasonable attorneys' fees); (iii) the filing fee charged by
the Securities and Exchange Commission for registration of the Certificates so
registered; (iv) the fees charged by the Rating Agencies to rate the
Certificates so rated; (v) the expense of recording any assignment of Mortgage
or assignment of Assignment of Leases as contemplated by Section 2 hereof; and
(vi) the cost of obtaining a "comfort letter" from a firm of certified public
accountants selected by the Purchaser and the Seller with respect to numerical
information in respect of the LBHI Mortgage Loans included in the Prospectus and
Memorandum. All other costs and expenses in connection with the transactions
contemplated hereunder shall be borne by the party incurring such expense.
SECTION 9. Grant of a Security Interest. It is the express intent of the parties
hereto that the conveyance of the LBHI Mortgage Loans by the Seller to the
Purchaser as provided in Section 2 hereof be, and be construed as, a sale of the
LBHI Mortgage Loans by the Seller to the Purchaser and not as a pledge of the
LBHI Mortgage Loans by the Seller to the Purchaser to secure a debt or other
obligation of the Seller. However, if, notwithstanding the aforementioned intent
of the parties, the LBHI Mortgage Loans are held to be property of the Seller,
then, (a) it is the express intent of the parties that such conveyance
14
be deemed a pledge of the LBHI Mortgage Loans by the Seller to the Purchaser to
secure a debt or other obligation of the Seller, and (b) (i) this Agreement
shall also be deemed to be a security agreement within the meaning of Articles 8
and 9 of the New York Uniform Commercial Code; (ii) the conveyance provided for
in Section 2 hereof shall be deemed to be a grant by the Seller to the Purchaser
of a security interest in all of the Seller's right, title and interest in and
to the LBHI Mortgage Loans, and all amounts payable to the holder of the LBHI
Mortgage Loans in accordance with the terms thereof, and all proceeds of the
conversion, voluntary or involuntary, of the foregoing into cash, instruments,
securities or other property, including without limitation all amounts, other
than investment earnings, from time to time held or invested in the Certificate
Account, the Distribution Account or, if established, the REO Account (each as
defined in the Pooling and Servicing Agreement) whether in the form of cash,
instruments, securities or other property; (iii) the assignment to the Trustee
of the interest of the Purchaser as contemplated by Section 1 hereof shall be
deemed to be an assignment of any security interest created hereunder; (iv) the
possession by the Trustee or any of its agents, including, without limitation,
the Custodian, of the Mortgage Notes, and such other items of property as
constitute instruments, money, negotiable documents or chattel paper shall be
deemed to be "possession by the secured party" for purposes of perfecting the
security interest pursuant to Section 9-305 of the New York Uniform Commercial
Code; and (v) notifications to persons (other than the Trustee) holding such
property, and acknowledgments, receipts or confirmations from persons holding
such property, shall be deemed notifications to, or acknowledgments, receipts or
confirmations from, financial intermediaries, bailees or agents (as applicable)
of the secured party for the purpose of perfecting such security interest under
applicable law. The Seller and the Purchaser shall, to the extent consistent
with this Agreement, take such actions as may be necessary to ensure that, if
this Agreement were deemed to create a security interest in the LBHI Mortgage
Loans, such security interest would be deemed to be a perfected security
interest of first priority under applicable law and will be maintained as such
throughout the term of this Agreement and the Pooling and Servicing Agreement.
SECTION 10. Notices. All notices, copies, requests, consents, demands and other
communications required hereunder shall be in writing and telecopied or
delivered to the intended recipient at the "Address for Notices" specified
beneath its name on the signature pages hereof or, as to either party, at such
other address as shall be designated by such party in a notice hereunder to the
other party. Except as otherwise provided in this Agreement, all such
communications shall be deemed to have been duly given when transmitted by
telecopier or personally delivered or, in the case of a mailed notice, upon
receipt, in each case given or addressed as aforesaid.
15
SECTION 11. Representations, Warranties and Agreements to Survive Delivery. All
representations, warranties and agreements contained in this Agreement,
incorporated herein by reference or contained in the certificates of officers of
the Seller submitted pursuant hereto, shall remain operative and in full force
and effect and shall survive delivery of LBHI Mortgage Loans by the Seller to
the Purchaser (and by the Purchaser to the Trustee).
SECTION 12. Severability of Provisions. Any part, provision, representation,
warranty or covenant of this Agreement that is prohibited or which is held to be
void or unenforceable shall be ineffective to the extent of such prohibition or
unenforceability without invalidating the remaining provisions hereof. Any part,
provision, representation, warranty or covenant of this Agreement that is
prohibited or unenforceable or is held to be void or unenforceable in any
particular jurisdiction shall, as to such jurisdiction, be ineffective to the
extent of such prohibition or unenforceability without invalidating the
remaining provisions hereof, and any such prohibition or unenforceability in any
particular jurisdiction shall not invalidate or render unenforceable such
provision in any other jurisdiction. To the extent permitted by applicable law,
the parties hereto waive any provision of law which prohibits or renders void or
unenforceable any provision hereof.
SECTION 13. Counterparts. This Agreement may be executed in any number of
counterparts, each of which shall be an original, but which together shall
constitute one and the same agreement.
SECTION 14. GOVERNING LAW. THIS AGREEMENT AND THE RIGHTS, DUTIES, OBLIGATIONS
AND RESPONSIBILITIES OF THE PARTIES HERETO SHALL BE GOVERNED IN ACCORDANCE WITH
THE INTERNAL LAWS AND DECISIONS OF NEW YORK. THE PARTIES HERETO INTEND THAT THE
PROVISIONS OF SECTION 5-1401 OF THE NEW YORK GENERAL OBLIGATIONS LAW SHALL APPLY
TO THIS AGREEMENT.
SECTION 15. Further Assurances. The Seller and the Purchaser agree to execute
and deliver such instruments and take such further actions as the other party
may, from time to time, reasonably request in order to effectuate the purposes
and to carry out the terms of this Agreement.
SECTION 16. Successors and Assigns. The rights and obligations of the Seller
under this Agreement shall not be assigned by the Seller without the prior
written consent of the Purchaser, except that any person into which the Seller
may be merged or consolidated, or any corporation resulting from any merger,
conversion or consolidation to which the Seller is a party, or any person
succeeding to all or substantially all of the business of the Seller, shall be
the successor to the Seller hereunder. The Purchaser has the right to assign its
interest under this Agreement, in whole or in part, as may be required to effect
the purposes of the Pooling and Servicing Agreement, and the assignee shall, to
the extent of such assignment, succeed to the rights
16
and obligations hereunder of the Purchaser. Subject to the foregoing, this
Agreement shall bind and inure to the benefit of and be enforceable by the
Seller, the Purchaser, the Underwriters (as intended third party beneficiaries
hereof) and their permitted successors and assigns, and the officers, directors
and controlling persons referred to in Section 7.
SECTION 17. Amendments. No term or provision of this Agreement may be waived or
modified unless such waiver or modification is in writing and signed by a duly
authorized officer of the party, or third party beneficiary, against whom such
waiver or modification is sought to be enforced.
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IN WITNESS WHEREOF, the Seller and the Purchaser have caused their
names to be signed hereto by their respective duly authorized officers as of the
date first above written.
SELLER
------
XXXXXX BROTHERS HOLDINGS INC.
By: /s/ XXXXXXX XXXXXX
----------------------------------------
Name: Xxxxxxx Xxxxxx
Title: Managing Director
Address for Notices:
Xxxxxx Brothers Inc.
0 Xxxxx Xxxxxxxxx Xxxxxx
Xxx Xxxx, XX 00000
Attention: Xxxxxxx Xxxxxx
Telecopier No.: (000) 000-0000
Telephone No.: (000) 000-0000
PURCHASER
---------
FIRST UNION COMMERCIAL
MORTGAGE SECURITIES, INC.
By: /s/ XXXXXXX X. XXXXX
----------------------------------------
Name: Xxxxxxx X. Xxxxx
Title Senior Vice President
Address for Notices:
One First Union Center
000 Xxxxx Xxxxxxx Xxxxxx
Xxxxxxxxx, Xxxxx Xxxxxxxx 00000-0000
Attention: Xxxxxxx X. Xxxxx
Telecopier No.: (000) 000-0000
Telephone No.: (000) 000-0000
18
SCHEDULE I
(i) The information pertaining to each Mortgage Loan set forth in the
Mortgage Loan Schedule was true and correct in all material respects as of the
Cut-Off Date;
(ii) If such Mortgage Loan was originated by the Seller or an affiliate
thereof, then, as of the date of its origination, such Mortgage Loan complied in
all material respects with, or was exempt from, all requirements of federal,
state or local law relating to the origination of such Mortgage Loan; and, if
such Mortgage Loan was not originated by the Seller or an affiliate thereof,
then, to the best of the Seller's knowledge after having performed the type of
due diligence customarily performed by prudent institutional commercial and
multifamily mortgage lenders, as of the date of its origination, such Mortgage
Loan complied in all material respects with, or was exempt from, all
requirements of federal, state or local law relating to the origination of such
Mortgage Loan;
(iii) The Seller owns the Mortgage Loan, has good and marketable title
thereto, has full right and authority to sell, assign and transfer the Mortgage
Loan and is transferring the Mortgage Loan free and clear of any and all liens,
pledges, charges or security interests of any nature encumbering such Mortgage
Loan, and no provision of the Mortgage Note, Mortgage or other loan document
relating to such Mortgage Loan prohibits or restricts the Seller's right to
assign or transfer such Mortgage Loan;
(iv) The proceeds of such Mortgage Loan have been fully disbursed and there
is no requirement for future advances thereunder;
(v) Each of the related Mortgage Note, Mortgage(s), Assignment of Leases,
if any, and other agreements executed in connection therewith is the legal,
valid and binding obligation of the maker thereof (subject to any non-recourse
provisions therein and any state anti-deficiency legislation), enforceable in
accordance with its terms, except as such enforcement may be limited by
bankruptcy, insolvency, reorganization or other similar laws affecting the
enforcement of creditors' rights generally, and by general principles of equity
(regardless of whether such enforcement is considered in a proceeding in equity
or at law), and a legal opinion to such effect was obtained by the originator of
such Mortgage Loan at the time of origination;
(vi) As of the date of its origination, there was no valid offset, defense,
counterclaim or right to rescission with respect to any of the related Mortgage
Note,
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Mortgage(s) or other agreements executed in connection therewith, and, as of the
Cut-off Date, to the best knowledge of the Seller, there is no valid offset,
defense, counterclaim or right to rescission with respect to such Mortgage Note,
Mortgage(s) or other agreements;
(vii) The assignment of the related Mortgage and assignment of leases to
the Trustee constitutes the legal, valid, binding and enforceable assignment of
such Mortgage in accordance with its terms, except as such enforcement may be
limited by bankruptcy, insolvency, reorganization or other similar laws
affecting the enforcement of creditors' rights generally, and by general
principles of equity (regardless of whether such enforcement is considered in a
proceeding in equity or at law);
(viii) Except with respect to the Mortgage Loans listed in Exhibit C
hereto, each related Mortgage is a valid and enforceable first lien on the
related Mortgaged Property, which Mortgaged Property is free and clear of all
encumbrances and liens having priority over or on a parity with the first lien
of such Mortgage, except for (a) liens for real estate taxes and special
assessments not yet due and payable, (b) covenants, conditions and restrictions,
rights of way, easements and other matters of public record as of the date of
recording of such Mortgage, such exceptions appearing of record being
customarily acceptable to mortgage lending institutions generally or
specifically reflected in the appraisal of such Mortgaged Property made in
connection with the origination of such Mortgage Loan, (c) other matters to
which like properties are commonly subject and which do not, individually or in
the aggregate, materially interfere with the benefits of the security intended
to be provided by such Mortgage or materially affect the value or marketability
of such Mortgaged Property, and such encumbrances do not materially interfere
with the current use or operation of the related Mortgaged Property or the
ability of the related Mortgagor to timely pay in full the principal and
interest on the related Mortgage Note; there exists with respect to such
Mortgaged Property an assignment of leases and rents provision, whether as part
of the related Mortgage or as a separate document or instrument, which
establishes and creates a first priority security interest in and to leases and
rents arising in respect of the related Mortgaged Property, subject only to
encumbrances described in subsections (a), (b) and (c) of this subparagraph
(viii);
(ix) The Seller has filed and/or recorded in all appropriate public filing
and recording offices all UCC-1 financing statements necessary to create and
perfect a security interest in and lien on the items of personal property
described therein (or, if not filed and/or recorded, has submitted such UCC-1
financing statements for
I-2
filing and/or recording and such UCC-1 financing statements are in form and
substance acceptable for filing and/or recording), to the extent perfection may
be effected pursuant to applicable law by recording or filing;
(x) All taxes and governmental assessments that prior to the Cut-off Date
became due and owing in respect of, and affect, each related Mortgaged Property
have been paid, or an escrow of funds in an amount sufficient to cover such
payments has been established;
(xi) As of the date of its origination, there was no proceeding pending for
the total or partial condemnation of each related Mortgaged Property that
materially affects the value thereof, and such Mortgaged Property was free of
material damage; and, as of the Cut-off Date, the Seller has not received any
notice of the commencement of any proceeding for the total or partial
condemnation of any related Mortgaged Property that materially affects the value
thereof, and such Mortgaged Property is free of material damage;
(xii) Each related Mortgaged Property is covered by an ALTA (or its
equivalent) lender's title insurance policy insuring that each related Mortgage
is a valid first lien on such Mortgaged Property in the original principal
amount of the Mortgage Loan after all advances of principal, or there is a
binding commitment from a title insurer qualified and licensed in the applicable
jurisdiction, as required, to issue such policy; such title insurance policy, if
issued, is in full force and effect, is freely assignable and will inure solely
to the benefit of the Trustee as mortgagee of record, or any such commitment is
a legal, valid and binding obligation of such insurer; no claims have been made
under such title insurance policy, if issued; and to the best knowledge of the
Seller, no prior mortgagee has done, by act or omission, anything which would
materially impair the coverage of any such title insurance policy;
(xiii) As of the date of its origination, all insurance required under each
related Mortgage, which insurance covered such risks as were customarily
acceptable to prudent commercial and multifamily mortgage lending institutions
lending on the security of property comparable to the related Mortgaged Property
in the jurisdiction in which such Mortgaged Property is located, and with
respect to a fire and extended perils insurance policy, was in an amount
(subject to a customary deductible) at least equal to 100% of the full insurable
replacement cost of the improvements located on such Mortgaged Property, was in
full force and effect with respect to each related Mortgaged Property; and, as
of the Cut-off Date, to the best knowledge of the Seller, all insurance required
under each Mortgage,
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which insurance covers such risks and is in such amounts as are customarily
acceptable to prudent commercial and multifamily mortgage lending institutions
lending on the security of property comparable to the related Mortgaged Property
in the jurisdiction in which such Mortgaged Property is located, is in full
force and effect with respect to each related Mortgaged Property; and no notice
of termination or cancellation with respect to any such insurance policy has
been received by the Seller; except for certain amounts not greater than amounts
which would be considered prudent by an institutional commercial mortgage lender
with respect to a similar mortgage loan and which are set forth in the related
Mortgage, any insurance proceeds in respect of a casualty loss or taking, will
be applied either to the repair or restoration of all or part of the related
Mortgaged Property or the reduction of the outstanding principal balance of the
Mortgage Loan;
(xiv) Other than payments due but not yet 30 days or more delinquent, (A)
there is no material default, breach, violation or event of acceleration, and
there is no other material default, breach, violation or event of acceleration,
existing under the related Mortgage Note or each related Mortgage, and (B) to
the best of the Seller's knowledge, after due inquiry, there is no event which,
with the passage of time or with notice and the expiration of any grace or cure
period, would constitute a material default, breach, violation or event of
acceleration under any of the documents referred to in clause (A), and, to the
knowledge of the Seller, there is no event which, with the passage of time or
with notice and the expiration of any grace or cure period, would constitute any
other material default, breach, violation or event of acceleration under any of
the documents referred to in clause (A); the Seller has not waived any material
default, breach, violation or event of acceleration under any of the documents
referred to in clause (A), and the Seller has not waived any other material
default, breach, violation or event of acceleration under such documents; and
under the terms of each Mortgage Loan, each related Mortgage Note, each related
Mortgage and the other loan documents in the related Mortgage File, no person or
party other than the mortgagee may declare an event of default or accelerate the
related indebtedness under such Mortgage Loan, Mortgage Note or Mortgage;
(xv) As of the Cut-off Date, the Mortgage Loan is not, and in the prior 12
months (or since the date of origination if such Mortgage Loan has been
originated within the past 12 months), has not been, 30 days or more past due in
respect of any Scheduled Payment;
(xvi) Except with respect to the Mortgage Loans listed in Exhibit D hereto
which accrue interest on the basis of the actual number of days elapsed over a
360 day
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year, the Mortgage Loan accrues interest (payable monthly in arrears) at a fixed
rate of interest (except with respect to ARD Loans, with respect to which the
rate at which interest accrues thereon increases after the Anticipated Repayment
Date, except with respect to the Mortgage Loan listed in Exhibit E hereto that
accrues interest at an adjustable rate, and except in connection with the
occurrence of a default and the accrual of default interest) on the basis of a
360-day year consisting of twelve 30-day months;
(xvii) Each related Mortgage does not provide for or permit, without the
prior written consent of the holder of the Mortgage Note, each related Mortgaged
Property to secure any other promissory note or obligation, except as expressly
described in such Mortgage and other than another Mortgage Loan in the Trust
Fund;
(xviii) Such Mortgage Loan is or constitutes part of a "qualified mortgage"
within the meaning of Section 860G(a)(3) of the Code. Accordingly, either as of
the date of origination or the Closing Date, the fair market value of the real
property securing the Mortgage Loan was not less than 80% of the "adjusted issue
price" (within the meaning of the REMIC Provisions) of such Mortgage Loan. For
purposes of the preceding sentence, the fair market value of the real property
securing the Mortgage Loan was first reduced by the amount of any lien on such
real property that is senior to the lien that secures such Mortgage Loan, and
was further reduced by a proportionate amount of any lien that is on a parity
with the lien that secures such Mortgage Loan;
(xix) Prepayment Premiums and Yield Maintenance Charges payable with
respect to the Mortgage Loan, if any, constitute "customary prepayment
penalties" within the meaning of Treasury Regulation Section 1.860G-1(b)(2);
(xx) One or more environmental site assessments were performed by an
environmental consulting firm independent of the Seller and the Seller's
affiliates with respect to each related Mortgaged Property during the 18-month
period preceding the Cut-off Date, and the Seller, having made no independent
inquiry other than to review the report(s) prepared in connection with the
assessment(s) referenced herein, has no knowledge of any material and adverse
environmental condition or circumstance affecting such Mortgaged Property that
was not disclosed in such report(s);
(xxi) The related Mortgage Note, Mortgage(s) and Assignment of Leases, if
any, contain customary and enforceable provisions such as to render the rights
and remedies of the holder thereof adequate for the realization against the
related Mortgaged Property or properties of the
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benefits of the security, including realization by judicial or, if applicable,
non-judicial foreclosure, subject to applicable reorganization, insolvency,
moratorium and other similar laws affecting creditors' rights generally as from
time to time, in effect, and to general principles of equity (regardless of
whether such enforceability is considered in a proceeding in equity or at law);
(xxii) To the best of the Seller's knowledge, after due inquiry, the
related Mortgagor is not a debtor in any bankruptcy, reorganization, insolvency
or comparable proceeding;
(xxiii) Such Mortgage Loan is secured by either a mortgage on a fee simple
interest or a leasehold estate in a commercial property or multifamily property
owned by the related Mortgagor, including all of the related Mortgagor's
interest in all improvements on the related Mortgaged Property;
(xxiv) Except with respect to the Mortgage Loans listed in Exhibit F
hereto, which are ARD Loans, such Mortgage Loan does not provide for negative
amortization;
(xxv) Such Mortgage Loan is a whole loan, contains no equity participation
by the lender or shared appreciation feature and does not provide for any
contingent or additional interest in the form of participation in the cash flow
of the related Mortgaged Property;
(xxvi) The related Mortgage contains provisions for the acceleration of the
payment of the unpaid principal balance of such Mortgage Loan if, without the
prior written consent of the mortgagee, each related Mortgaged Property or any
interest therein, is directly or indirectly encumbered in connection with
subordinate financing; provided, however, the Mortgage Loans listed in Exhibit G
hereto, are encumbered by subordinated debt;
(xxvii) Except with respect to (W) transfers of certain non-controlling
interests in the Mortgagors as specified in the related Mortgage, (X) the
Mortgage Loans listed in Exhibit H hereto, which permit a transfer of the
related Mortgaged Property to a person that satisfies certain criteria
(including criteria related to bankruptcy remoteness and property management
experience) specified in the related Mortgage, (Y) the Mortgage Loans listed in
Exhibit I hereto, which permit a one-time transfer of the Mortgaged Property,
subject to payment of an assumption fee and certain other conditions, and (Z)
the Mortgage Loans listed in Exhibit J hereto, which permit two or more separate
transfers of the related Mortgaged Property, subject to payment of an assumption
fee and certain other conditions, the related Mortgage contains either (A)
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provisions for the acceleration of the payment of the unpaid principal balance
of such Mortgage Loan if each related Mortgaged Property, or any interest
therein, is directly or indirectly transferred or sold without the prior written
consent of the mortgagee, or (B) provisions for the acceleration of the payment
of the unpaid principal balance of such Mortgage Loan if each related Mortgaged
Property, or any interest therein, is directly or indirectly transferred or sold
without the related Mortgagor having satisfied certain conditions specified in
the related Mortgage with respect to permitted transfers;
(xxviii) The Mortgage Loan, together with any other Mortgage Loan made to
the same Mortgagor or to an affiliate of such Mortgagor, does not represent more
than 5% of the aggregate Initial Pool Balance;
(xxix) Except as set forth in the related Mortgage File, the terms of the
related Mortgage Note and Mortgage(s) have not been waived, modified, altered,
satisfied, impaired, canceled, subordinated or rescinded in any manner which
materially interferes with the security intended to be provided by such
Mortgage;
(xxx) Each related Mortgaged Property was inspected by or on behalf of the
related originator during the 12 month period prior to the related origination
date;
(xxxi) Except for the Mortgage Loans listed in Exhibit K hereto, the terms
of the related Mortgage Note or Mortgage do not provide for the release of any
material portion of the related Mortgaged Property from the lien of such
Mortgage without payment in full of the Mortgage Loan;
(xxxii) The related Mortgagor has covenanted in the Mortgage Loan documents
to maintain the related Mortgaged Property in compliance with all applicable
laws, zoning ordinances, rules, covenants and restrictions affecting the
construction, occupancy, use and operation of such Mortgaged Property, and the
related originator performed the type of due diligence in connection with the
origination of such Mortgage Loan customarily performed by prudent institutional
commercial and multifamily mortgage lenders with respect to the foregoing
matters; the Seller has received no notice of any material violation of any
applicable laws, zoning ordinances, rules, covenants or restrictions affecting
the construction, occupancy, use or operation of such Mortgaged Property; to the
Seller's knowledge (based on surveys and/or title insurance obtained in
connection with the origination of such Mortgage Loan), as of the date of such
origination, no improvement that was included for the purpose of determining the
appraised value of the related Mortgaged Property at the time of origination of
such Mortgage Loan lay outside the boundaries and
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building restriction lines of such property to an extent which would have a
material adverse affect on the related Mortgagor's use and operation of such
Mortgaged Property (unless affirmatively covered by the title insurance referred
to in paragraph (xii) above), and no improvements on adjoining properties
encroached upon such Mortgaged Property to any material extent;
(xxxiii) Except with respect to Credit Lease Loans, the related Mortgagor
has covenanted in the Mortgage Loan documents to deliver each year to the
mortgagee an operating statement of each related Mortgaged Property covering the
twelve-month period identified therein;
(xxxiv) With respect to at least 95% of the Mortgage Loans, the related
Mortgagor has covenanted in its organizational documents and/or the Mortgage
Loan documents to own no significant asset other than the related Mortgaged
Property or Mortgaged Properties, as applicable, and assets incidental to its
ownership and operation of such Mortgaged Property;
(xxxv) With respect to any Mortgage Loan that is secured in whole or in
material part by the interest of a Mortgagor as a lessee under a Ground Lease
but not by the related fee interest:
(A) Such Ground Lease or a memorandum thereof has been or will be duly
recorded (other than the Ground Lease related to the Mortgage Loan listed in
Exhibit L hereto) and such Ground Lease permits the interest of the lessee
thereunder to be encumbered by the related Mortgage or, if consent of the lessor
thereunder is required, it has been obtained prior to the Closing Date;
(B) Upon the foreclosure of the Mortgage Loan (or acceptance of a deed in
lieu thereof), the Mortgagor's interest in such Ground Lease is assignable to
the Trustee without the consent of the lessor thereunder (or, if any such
consent is required, it has been obtained prior to the Closing Date) and, in the
event that it is so assigned, is further assignable by the Trustee and its
successors without a need to obtain the consent of such lessor; provided, that
the lessor's consent to a subsequent sale is required under the Ground Lease
related to the Mortgage Loans listed in Exhibit M hereto;
(C) Such Ground Lease may not be amended, modified, canceled or terminated
without the prior written consent of the mortgagee thereunder and that any such
action without such consent is not binding on such mortgagee, its successors or
assigns;
I-8
(D) Unless otherwise set forth in the Ground Lease, the Ground Lease does
not permit any increase in the amount of rent payable by the ground lessee
thereunder during the term of the Mortgage Loan;
(E) Such Ground Lease was in full force and effect as of the date of
origination, and to the actual knowledge of the Seller, at the Closing Date,
such Ground Lease is in full force and effect and other than payments due but
not yet 30 days or more delinquent, (1) there is no material default, and (2)
there is no event which, with the passage of time or with notice and the
expiration of any grace or cure period, would constitute a material default
under such Ground Lease;
(F) Such Ground Lease or an estoppel or consent letter received by the
mortgagee from the lessor, requires the lessor thereunder to give notice of any
default by the lessee to the mortgagee; and such Ground Lease, or an estoppel or
consent letter received by the mortgagee from the lessor, further provides that
no notice of termination given under such Ground Lease is effective against the
mortgagee unless a copy has been delivered to the mortgagee in the manner
described in such Ground Lease, estoppel or consent letter;
(G) The ground lessee's interest in the Ground Lease is not subject to any
liens or encumbrances superior to, or of equal priority with, the related
Mortgage, other than the related ground lessor's related fee interest and any
exceptions stated in the related title insurance policy or opinion of title,
which exceptions do not and will not materially and adversely interfere with (1)
the ability of the related Mortgagor timely to pay in full the principal and
interest on the related Mortgage Note, (2) the use of such Mortgaged Property
for the use currently being made thereof, or (3) the value of the Mortgaged
Property;
(H) A mortgagee is permitted a reasonable opportunity to cure any curable
default under such Ground Lease before the lessor thereunder may terminate such
Ground Lease;
(I) Such Ground Lease has an original term (including any extension options
set forth therein) that extends not less than 10 years beyond the Stated
Maturity Date of the related Mortgage Loan;
(J) Except with respect to the Ground Lease related to each of the Mortgage
Loans listed in Exhibit N hereto, under the terms of such Ground Lease, any
estoppel or consent letter received by the mortgagee from the lessor, and the
related Mortgage, taken together, any related insurance proceeds or condemnation
proceeds will be applied
I-9
either to the repair or restoration of all or part of the related Mortgaged
Property, with the mortgagee or a trustee appointed by it having the right to
hold and disburse such proceeds as the repair or restoration progresses, or to
the payment of the outstanding principal balance of the Mortgage Loan together
with any accrued interest thereon;
(K) Such Ground Lease does not impose any restrictions on subletting which
would be viewed as commercially unreasonable by a prudent commercial mortgage
lender;
(L) Except with respect to Mortgage Loans listed on Exhibit O hereto, the
ground lessor under such Ground Lease is required to enter into a new lease upon
termination of the Ground Lease for any reason, including the rejection of the
Ground Lease in bankruptcy, and for any reason, upon the request of the lender;
(M) The terms of the related Ground Lease have not been waived, modified,
altered, satisfied, impaired, canceled, subordinated or rescinded in any manner
which materially interferes with the security intended to be provided by such
Mortgage.
(xxxvi) No advance of funds has been made, directly or indirectly, by the
Seller to the Mortgagor other than pursuant to the Mortgage Note and no funds
have been received from any person other than such Mortgagor for or on account
of payments due on the Mortgage Note;
(xxxvii) To the Seller's actual knowledge, there are no pending actions,
suits or proceedings by or before any court or governmental authority against or
affecting the related Mortgagor or the related Mortgaged Property that, if
determined adversely to such Mortgagor or Mortgaged Property, would materially
and adversely affect the value of the Mortgaged Property or the ability of the
Mortgagor to pay principal, interest or any other amounts due under such
Mortgage Loan;
(xxxviii) Such Mortgage Loan complied with all applicable usury laws in
effect at its date of origination;
(xxxix) To the extent required under applicable law as of the Closing Date,
the originator of such Mortgage Loan was authorized to do business in the
jurisdiction in which the related Mortgaged Property is located at all times
when it held the Mortgage Loan to the extent necessary to ensure the
enforceability of such Mortgage Loan;
(xl) If the related Mortgage is a deed of trust, a trustee, duly qualified
under applicable law to
I-10
serve as such, is properly designated and serving under such Mortgage;
(xli) The related Mortgage Note is not secured by any collateral that
secures a mortgage loan that is not in the Trust Fund (except with respect to
the Mortgage Loans listed in Exhibit G hereto), and each Mortgage Loan that is
cross-collateralized is cross-collateralized only with other Mortgage Loans sold
pursuant to this Agreement;
(xlii) The related Mortgaged Property is not located in a flood hazard area
as defined by the Federal Insurance Administration or is covered by flood hazard
insurance;
(xliii) Except with respect to the Mortgage Loans listed on Exhibit P
hereto, one or more engineering assessments were performed by an engineering
consulting firm independent of the Seller and the Seller's affiliates with
respect to each related Mortgaged Property during the 18-month period preceding
the Cut-off Date, and the Seller, having made no independent inquiry other than
to review the report(s) prepared in connection with the assessment(s) referenced
herein, has no knowledge of any material and adverse engineering condition or
circumstance affecting such Mortgaged Property that was not disclosed in such
report(s);
(xliv) All escrow deposits and payments relating to the Mortgage Loan are
under control of the Seller or the servicer of such Mortgage Loan and all
amounts required as of the date hereof under the Mortgage Loan Documents to be
deposited by the related Mortgagor have been deposited;
(xlv) The related Mortgagor has represented to the Seller that as of the
date of origination of the Mortgage Loan, such Mortgagor, the related lessee,
franchisor or operator was in possession of all licenses, permits and
authorizations then required for use of the related Mortgaged Property, which
were valid and in full force and effect; and
(xlvi) The origination, servicing and collection practices used by the
Seller or any prior holder of the Mortgage Note have been in all respects legal,
proper and prudent and have met customary industry standards.
(xlvii) With respect to any Mortgage Loan that is a Credit Lease Loan;
(A) Except with respect to the Mortgage Loans listed in Exhibit Q hereto,
the lease payments due under the related Credit Lease are equal to or greater
than the payments due with respect to the related Mortgage Loan;
I-11
(B) Except with respect to Credit Lease Loans as indicated in Exhibit R
hereto, the Mortgagor does not have monetary obligations under the related
Credit Lease, and every monetary obligation associated with managing, owning,
developing and operating the leased property, including, but not limited to, the
costs associated with utilities, taxes, insurance, maintenance and repairs is an
obligation of the related Tenant;
(C) Except with respect to Credit Lease Loans listed in Exhibit S hereto,
the Mortgagor does not have any nonmonetary obligations under the related Credit
Lease, except for the delivery of possession of the leased property;
(D) Except with respect to the Credit Lease Loans listed in Exhibit T
hereto, the Mortgagor has not made any representation or warranty in the related
Credit Lease, a breach of which would result in the termination of, or an offset
or abatement with respect to, such Credit Lease;
(E) Except with respect to the Credit Lease Loans listed in Exhibit U
hereto, the related Tenant cannot terminate such Credit Lease for any reason,
prior to the payment in full of: (a) the principal balance of the related
Mortgage Loan; (b) all accrued and unpaid interest on such Mortgage Loan; and
(c) any other sums due and payable under such Mortgage Loan, as of the
termination date, which date is a rent payment date, except for a default by the
related Mortgagor under the Credit Lease;
(F) In the event the related Tenant assigns or sublets the related leased
property, such Tenant (and if applicable, the related guarantor) remains
obligated under the related Credit Lease;
(G) Except with respect to the Credit Lease Loans listed in Exhibit V
hereto, each property related to a Credit Lease Loan is a separate tax lot;
(H) Except with respect to the Credit Lease Loans listed in Exhibit W
hereto, the related Tenant has agreed to indemnify the Mortgagor from any claims
of any nature (a) to which the Mortgagor is subject because of such Mortgagor's
estate in the leased property, or (b) arising from (i) injury to or death of any
person or damage to or loss of property on the leased property or connected with
the use, condition or occupancy of the leased property, (ii) Tenant's violation
of the related Credit Lease, or (iii) any act or omission of the Tenant;
(I) Except with respect to the Mortgage Loans listed in Exhibit X hereto,
related Tenant has agreed to indemnify the Mortgagor from any claims of any
nature arising as a result of any hazardous material affecting the
I-12
leased property and due to such Tenant's use of the leased property;
(J) Except with respect to the Mortgage Loans listed in Exhibit Y hereto,
in connection with Credit Lease Loans with respect to which a lease guarantee
exists, the related guarantor guarantees the payment due under the related
Credit Lease and such guarantee, on its face, contains no conditions to such
payment;
(K) With respect to Credit Lease Loans that have the benefit of residual
value insurance policies and lease enhancement policies, each such policy has
been obtained, and with respect to the Credit Leases other than bond-type
leases, the required premiums have been paid; and
(L) The list of lease guarantors, if any, attached as Exhibit Z hereto, is
accurate in all material respects.
(xlviii) With respect to Mortgage Loans secured in whole or in part by the
interest of the related mortgagor under a Ground Lease and by the related fee
interest, such fee interest is subject, and subordinated of record, to the
related Mortgage, and such Mortgage does not by its terms provide that it will
be subordinated to the lien of any other mortgage or other lien upon such fee
interest.
I-13
EXHIBIT A
MORTGAGE LOAN SCHEDULE
Offer
Doc Loan
# # Property Name Address City
--- ---- ------------- ------- ----
1 RA35 Rentar 00-00 Xxxxxxxxxxxx Xxxxxx Xxxxxx Xxxxxxx
0 XX00 Xxxx Court 000-000 Xxxxxxxxx Xxxxxx Xxx Xxxx
0 RD79 Blue Cross Blue Shield 2800 East 6500 South Salt Lake City
00 XX00 Xxx Xxxxx Xxxxx X. Xxxx of Loop 000 X. xx Xxx Xxxxx Xxxx. San Antonio
12 RA63 Cypress Palms & Sabal Palms (Roll-up) 000 Xxxx Xxx. & 499 Alternate Xxxxx Xx. Largo
13 RB69 Pinole Vista Crossing IH-80 & Xxxxxxxxxx Drive Pinole
14 QZ41 000 Xxxxx Xxxxxx 000 Xxxxx Xxx. Xxx Xxxx
15 RA73 Citrus Xxxxxx Xxxxxx Xxxxxxxx 000 X. Xxxxxx Xxxxxx Xxxxxxx
00 RB58 Park Esplanade Apartments 0000 Xxxxxxxxx Xxx. New Orleans
19 QZ04 Xxxxxx Portfolio (Roll-up) Xxxxxxx Xxxxxxx
00 XX00 Xxxxx Xxxxxx Plaza 000-00 Xxxxxxxxxx Xxxxxxxxx Xxxxxxxx
00 XX00 Xxxxxx Fashion Square XX 00 Xxxxxxx xxx Xxxxx Xxxx Independence
23 RB66 Sheraton Orlando North 000 Xxxxx Xxxx Xxxxxxx Xxxxx Xxxxxxxx
29 QZ40 000 Xxxxx Xxxxxx 000 Xxxxx Xxx. Xxx Xxxx
00 XX00 Xxxxx Xxxxx Senior Residence 000 Xxxx Xxx, X.X. Largo
33 RB97 Xxxxxx Run Apartments 000 Xxxx Xxxx Xxxx of Prussia
35 RD48 Trexlertown Shopping Center 0000 Xxxxxxxx Xxxx. Upper and Lower Macungie
37 RB67 Berkley Square 4701 Xxxx Xxxxxxxxx Xxxxx
00 XX00 Xxxxxxxxxx Plaza 000-000 Xxxxxxx Xxxxxxxxx Xxxx Xxxx
41 RA12 Palm Court Apartments 3995 Overland Avenue Xxxxxx City
43 RC09 Yaohan Plaza Torrance 21515 Xxxxxxx Xxxxxx Xxxxxxxx
00 XX00 Xxxxxxxxxxx Shopping Plaza Xxxxxx & Xxxxx Xxxx. Irondequiot
45 RB07 The Deauville 0000 Xxxxxx Xxx Xxx Xxxxxxx
46 RA53 The NorthCorp Center 3910 RCA Blvd. Palm Beach Gardens
48 QT78 Holiday Inn Select (Appleton) 000 Xxxxxxx Xxxx Xxxxxxxx
55 QM24 Mountain View Apartments 00000 Xxxx Xxxxxx Xxxxx El Toro
56 RD64 FEL Facility Lakewood Farmingdale Road Farmingdale
59 RA81 0000 Xxxxx Xxxx Xxxxxx 0000 Xxxxx Xxxx Xx. Xxx Xxxxxxx
61 RC10 Yaohan Plaza Costa Mesa 000 Xxxxxxxxx Xxxxxx Xxxxx Xxxx
62 RC19 Brainerd Village Brainerd Road Chattanooga
Offer Cut-off Mortgage
Doc Original Date -------------------- Accrual
# State Balance ($) Balance ($) Rate (%) Maturity Method
--- ----- ----------- ----------- -------- -------- -------
1 NY 45,500,000 45,416,841 8.3400 7/1/07 Act/360
4 NY 33,500,000 33,449,419 7.4300 9/1/12 30/360
5 UT 30,000,000 30,000,000 7.1850 10/1/22 30/360
10 TX 28,687,500 28,670,846 7.2400 10/1/02 Act/360
12 FL 23,400,000 23,372,304 8.6310 9/1/22 30/360
13 CA 23,000,000 22,988,718 7.7500 10/1/12 Act/360
14 NY 23,000,000 22,901,796 8.4200 6/1/22 Act/360
15 FL 21,375,000 21,315,575 7.9100 8/1/07 Act/360
18 LA 20,000,000 19,977,150 7.9400 9/1/07 Act/360
19 PA 20,000,000 19,958,798 8.9300 6/1/07 Act/360
20 NY 19,125,000 19,093,718 7.8800 8/1/07 Act/360
22 MO 18,525,000 18,489,317 8.2500 8/1/12 30/360
23 FL 18,000,000 17,970,413 8.6900 9/1/04 Act/360
29 NY 16,500,000 16,460,174 8.4200 6/1/12 Act/360
32 FL 14,800,000 14,780,274 8.0500 9/1/22 30/360
33 PA 14,000,000 14,000,000 7.5100 11/1/27 30/360
35 PA 13,100,000 13,093,282 7.6200 10/1/07 Act/360
37 TX 12,500,000 12,488,265 8.6500 9/1/07 Act/360
40 CA 12,000,000 11,954,284 8.6700 7/1/04 30/360
41 CA 11,790,000 11,773,564 8.4100 8/1/07 Act/360
43 CA 10,500,000 10,495,288 8.0000 10/1/12 Act/360
44 NY 10,300,000 10,269,569 8.6910 6/1/07 30/360
45 CA 10,000,000 9,986,732 7.3600 9/1/07 Act/360
46 FL 10,000,000 9,985,351 8.2500 8/1/07 Act/360
48 WI 9,800,000 9,749,977 9.4000 5/1/07 30/360
55 CA 10,000,000 9,061,380 7.5000 8/1/01 30/360
56 NJ 9,000,000 9,000,000 8.3800 11/1/12 30/360
59 CA 8,800,000 8,783,677 8.0900 9/1/04 Act/360
61 CA 8,500,000 8,496,186 8.0000 10/1/12 Act/360
62 TN 8,500,000 8,494,274 7.9800 10/1/07 30/360
Page 1 of 7
Offer
Doc Loan
# # Property Name Address City
--- ---- ------------- ------- ----
65 QZ72 Xxxxxxx Shopping Center Montauk Highway & Xxxxxxx Xxxxx Parkway Xxxxxxx
00 XX00 Xxxxxxxxx Xxxxx Apartments 000 Xxxxxxx Xxxxx Xxxxxxxxx
00 XX00 Xxxx Tower 000 X. Xxxxx Xxx Xxxxxxxxx Xxxxx Xxx
71 XX00 Xxxxxxxx Moors 000 Xxxxxxxx Xxxx Xxxx
74 RC50 Premier Place Shopping Center NWC of Xxxx'x Ford & McQueen Xxxxx Roads Prattville
76 RD37 Ten Quivira Plaza Shopping Center NWQ Shawnee Mission Pkwy & Quivira Rd. Shawnee
77 RA88 Grandin Ridge Apartments 0000 Xxxxxxx Xxxxx Xxxx Xxxxxxxx
79 QY56 Buccaneer Trace Apartments 00 X. Xxxxxxxx Xx. Savannah
80 QZ10 Euclid Shopping Center 0000 Xxxxxx Xxx. Bristol
81 QY51 Overlook Rim Apartments 0000 Xxxxx Xxxxx Xxxxxx Tacoma
84 RC39 Key Biscayne Galeria 328 Crandon Blvd. Key Biscayne
91 RA70 Main Street Village Apartments 0000 Xxxx Xx. Xxxxxxxx
00 XX00 Xxxxxxx Apartments 0000 X. 000xx Xxxxxx Torrance
96 QZ56 Reisterstown Business Center 000-000 Xxxxxxxx Xxxxxx Xxx Xxxxxxxxxxxx
97 RB96 Nob Hill Apartments - Madison 0000 Xxxxxxxx Xxxx Xxxxxxx
000 XX00 Ralphs 00xx Xxxxxx Xxxxxxxxx & 00xx Xxxxxx Xxx Xxxxx
105 RD38 Brywood Shopping Center 0000-0000 X. 00xx Xxxxxx Xxxxxx Xxxx
108 QT21E Bradford Place Apartments 000 Xxxxxxxx Xxxx Xxxxxxxx
110 RA65 Xxx Xxxxx Xxxxx XX Xxxxx 00 and Xxxxx 00 Xxxxxxxx
000 RB12 Chimney Sweep Apartments 000 Xxxxxx Xxx Xxx Xxxx Xxxxx
000 XX00 Holiday Inn-Oceanfront 0000 Xxxxx X0X Xxxxxxxxx
114 RC38 Nob Hill Apartments - Birmingham 800 Valley Ave. Birmingham
116 QZ34 The Benchmark 000 Xxx Xxxxxxx Xxxx Mineola
119 RB41 The Xxxxxxx Building 0000 Xxxx 0xx Xxxxxx Xxxxxxxxx
000 QZ69 Lincoln Plaza 0000 Xxxxx Xxxxxxx Xx. Xxxxxxxx
000 XX00 The 535 Plaza 00000 Xxxxxxx 000 Xxxxxxx
Offer Cut-off Mortgage
Doc Original Date -------------------- Accrual
# State Balance ($) Balance ($) Rate (%) Maturity Method
--- ----- ----------- ----------- -------- -------- -------
65 NY 8,250,000 8,234,773 8.3100 7/1/07 Act/360
69 TN 7,500,000 7,495,930 7.4500 10/1/07 Act/360
70 CA 7,500,000 7,487,785 8.6800 7/1/04 Act/360
71 NC 7,500,000 7,476,817 8.4700 6/1/04 30/360
74 AL 7,230,000 7,230,000 7.9500 11/1/07 30/360
76 KS 7,160,000 7,155,350 8.1600 10/1/07 30/360
77 GA 7,140,000 7,127,772 7.7200 8/1/07 Act/360
79 GA 7,040,000 7,016,198 8.9400 5/1/04 30/360
80 VA 7,031,000 7,014,233 8.6300 7/1/07 30/360
81 WA 7,040,000 7,014,139 8.5350 5/1/04 30/360
84 FL 7,000,000 6,996,673 7.8400 10/1/07 Act/360
91 GA 6,600,000 6,592,053 7.7400 9/1/12 Act/360
93 CA 6,500,000 6,488,356 7.5600 8/1/07 Act/360
96 MD 6,400,000 6,389,097 8.5500 7/1/07 Act/360
97 WI 6,350,000 6,342,551 7.8400 9/1/12 Act/360
104 CA 6,150,000 6,122,436 8.7200 5/1/17 30/360
105 MO 6,110,000 6,106,032 8.1600 10/1/07 30/360
108 SC 5,885,771 5,853,430 8.0000 3/1/04 30/360
110 NJ 5,800,000 5,788,599 8.1500 8/1/07 30/360
111 CA 5,750,000 5,739,700 7.5600 8/1/07 Act/360
113 FL 5,600,000 5,579,458 8.9000 7/1/04 30/360
114 AL 5,500,000 5,497,367 7.8200 10/1/07 Act/360
116 NY 5,500,000 5,488,961 9.0100 6/1/07 Act/360
119 OH 5,400,000 5,391,697 8.0900 8/1/04 Act/360
120 OK 5,300,000 5,280,462 8.8700 7/1/07 30/360
125 FL 5,125,000 5,108,096 9.0600 5/1/04 30/360
Page 2 of 7
Offer
Doc Loan
# # Property Name Address City
--- ---- ------------- ------- ----
126 RD50 Vanguard Distribution Building 00000 Xxxxx Xxxxxxxx Los Angeles
130 QZ49 Best Western Pensacola 16 Xxx Xx Xxxx Xxxxx Xxxxxxxxx
000 XX00 Xxxxx Garden Apartments 9352-9372 Xxxxxx Xxxxxx Xxxxxxx
000 XX00 Xxx Xxxxxx Apartments 0000 Xxxxx Xxxx. Xxxx Xxxxxxxxx
136 RA68 Dayton's Bluff Community Care Center 000 Xxxxxxx Xxxxxxx Xx. Xxxx
137 QY26 Kings Xxxxx Xxxxxxxx Xxxxxx 0000 & 0000 Xxxxx Xxxxxxx Xxx Xxxxxxx
140 RC25 Xxxxxxx Xxxxxxx Xxxxxxxx Xxxxxx XXX Xxxxxxx Xxxx. & Quivira Road Xxxxxxxx Xxxx
000 XX00 Xxxxxx House 0000 Xxxxxx Xxxxx Xxxx Xxxxxxx Xxxx
000 XX00 Sierra Vista Apartments 710 South Hardy Drive Tempe
145 QZ28 Cedars Executive Center 2939 North Monroe Xx. Xxxxxxxxxxx
000 XX00 Xxxxxxx Warehouse 0000 X. 00xx Xxxxxx Xxxxxxx Xxxx
000 XX00 Xxxxxxxxxxx Queen Plaza 000-000 Xxxxx Xxxxxx Xxxxxxxxxxx
53 QY84 Avalon Manor Note A 00000 Xxxxx Xxxx Hagerstown
151 RB80 University Roost Apartments 000 X. Xxxxxxxxx Xxxx Xxxxxxxxx
00 XX00 Xxxxxx Manor Note B 00000 Xxxxx Xxxx Hagerstown
152 QY50 Olympic Ridge Apartments 0000 Xxxxxx Xxxxxx Xxxxxx
153 QZ97 Mountain Creek Park 0000 Xxxxxxx 00 Xxxxxxx
154 QZ91 0000 Xxxx Xxxx 0000 Xxxxxxxxx Post Road Southport
155 RA98 Westgate Plaza SEC US 64/Roller Mill Road Franklin
158 RB50 Xxxxx Xxxxx Xxxxxxxxxx 0000 Xxxxxxx Xxxxx Xxxxxxxxx
160 QZ81 Xxxxxxxxx Xxxxx Xxxxxxxxxx 0000 Xxxx Xxxxxxx Xxxxxxx
161 QY98 Zinfandel Ranch Apartments 00000 Xxxxxx Xxxxxxxxx Xxxxxx Xxxxxxx
165 RC01 Xxxxxxxx Creek Shopping Center Xxxxxxxx Creek Road Stevensville
170 RB57 National Hills Shopping Center 0000 Xxxxxxxxxx Xx. Augusta
171 QY77 International Outlet Center 0000 Xxxxxxxxxxxxx Xxxxx Xxxxxxx
000 XX00 Wymberly Pointe Apartments 702 West Warrior Grand Prairie
176 RB46 The Hampton Inn 0000 Xxxxx Xxxxxxxxx Xxxxxx Xxxxxxxxxxxx
178 XX00 Xxxxxxxxx Office Center 000 Xxxx Xxx Xxx Xxxx. Xxxxxxxx
000 XX00X Auburn Chase Apartments 000 Xxxxxxxxxx Xxxxx Xxxxxxx Xxxx
000 XX00X Foxwood I & II Apartments 19920 Foxwood Forest Humble
184 QZ05 Sunset International 0000 XX 00xx Xxx. Xxxxx
187 RC55 Xxxxxxx Xxxxx Xxxxxxx Drive Bentonville
Offer Cut-off Mortgage
Doc Original Date -------------------- Accrual
# State Balance ($) Balance ($) Rate (%) Maturity Method
--- ----- ----------- ----------- -------- -------- -------
126 CA 5,100,000 5,096,859 7.7930 10/1/07 Act/360
130 FL 5,000,000 4,978,679 9.2400 7/1/20 30/360
131 CA 4,863,000 4,842,232 8.5700 4/1/07 30/360
134 TX 4,815,000 4,797,258 8.5200 5/1/07 30/360
136 MN 4,800,000 4,789,403 8.9700 8/1/07 Act/360
137 MA 4,800,000 4,784,004 9.0100 5/1/07 30/360
140 KS 4,750,000 4,748,045 8.2300 10/1/07 Act/360
141 MD 4,750,000 4,743,859 8.2000 9/1/04 30/360
143 AZ 4,750,000 4,741,261 8.3200 7/1/07 Act/360
145 FL 4,750,000 4,729,022 9.1500 6/1/07 30/360
146 IL 4,749,750 4,699,778 9.1500 5/1/04 30/360
147 CT 4,700,000 4,692,155 7.8100 8/1/07 Act/360
53 MD 4,700,000 4,683,455 10.5000 6/1/07 30/360
151 AZ 4,600,000 4,597,585 7.5500 10/1/07 Act/360
54 MD 4,580,000 4,553,995 7.6025 6/1/07 30/360
152 WA 4,560,000 4,543,249 8.5350 5/1/04 30/360
153 GA 4,550,000 4,538,834 8.4900 7/1/17 30/360
154 CT 4,510,000 4,501,095 8.1000 7/1/07 Act/360
155 NC 4,500,000 4,495,259 8.2400 9/1/07 Act/360
158 TX 4,475,000 4,465,732 7.5200 9/1/04 Act/360
160 TX 4,450,000 4,440,878 7.9800 7/1/07 Act/360
161 CA 4,450,000 4,438,772 8.2700 6/1/07 Act/360
165 MD 4,350,000 4,345,341 8.1800 9/1/07 Act/360
170 GA 4,100,000 4,095,982 8.5000 9/1/07 Act/360
171 FL 4,100,000 4,089,140 9.2200 6/1/07 30/360
172 TX 4,100,000 4,086,023 8.9000 5/1/07 30/360
176 IN 4,000,000 3,993,109 8.4600 9/1/07 Act/360
177 GA 4,000,000 3,984,774 9.3500 8/1/07 Act/360
178 CA 3,990,000 3,977,324 9.2410 5/1/07 30/360
180 VA 3,920,000 3,898,460 8.0000 3/1/04 30/360
181 TX 3,920,000 3,898,460 8.0000 3/1/04 30/360
184 FL 3,850,000 3,838,693 8.7200 6/1/07 30/360
187 AR 3,800,000 3,795,978 7.9600 10/1/22 30/360
Page 3 of 7
Offer
Doc Loan
# # Property Name Address City
--- ---- ------------- ------- ----
190 RB72 Xxxxxx Park Shopping Center 0000 Xxxxxx Xxxx Xxxxx
000 XX00 Xxxxxxxxx Xxxx at Xxxxxxx 00000 XX 000xx Xxxxxx Xxxxx
193 QZ46 Xxxxxxx Xxxxxxxx Xxxx 0000-0000-0000 Xxxxxxxx Xxxxx Aurora Hills
194 QZ50 Xxxxxxx Xxxxxx Center 0000 Xxxxxx Xxxx Xxxxxx
000 XX00 Huntington Circle 000 X. Xxxxxxx 000 Lewisville
197 QZ92 Planters Walk Shopping Center 0000 Xxxx Xxxx. Xxxxxxxxx
198 QY29 Market Square Shopping Center XX Xxxx Highway, N of Xxxxxxxx Drive Macon
199 QY14 000 Xxx Xxxxxxx Xxxxxx 000 Xxx Xxxxxxx Xxxxxx Xxxxxx
201 RC42 Nassau Eden Club Apartments 2100 Sinton, 925-963 Auburnview, Cincinnati
203 RB51 Willow Garden Apartments 000 Xxxxxx Xxxxxx Xxxxxxxxx
000 XX00 0000-0000 Xxxx Xxxxxx 0000-0000 Xxxx Xxxxxx Xxxxxxxxxxxx
206 RB48 Two Edison Lakes 0000 Xxxxxx Xxxxx Xxxxxxx Mishawaka
000 XX00 Xxxxx Xxxxx Xxxxx 000 Xxxxxxxxx Xxxxxx Xxxxxxxx
000 XX00 Xxxxxxx at Central 0000 Xxxxxxx Xxxxx Xxxxxxx
000 XX00 Xxxxxxxx'x Plaza 0000 Xxxxx Xxxxxxx Xxx. Xxxx Xxxxxxxxxx
212 RC58 Xxxxxxx Tech Center 0000 Xxxxx Xxxxxx Xxxxxx Xxxxxxx
213 QZ79 Mariner's Point 00000 Xxxxxxx Xxxxx Xxxxxxx Xxxxxxxxxx Xxxxx
188 QZ86 Lakeway Plaza I 0000 Xxxxx Xxxx 620 Lakeway
219 QY37 Wymberly Crossing Apartments 0000 Xxxxx Xxxxxxx Xxxxxxx Grand Prairie
220 QY46 Xxxxxxx Xxxxxxx Xxxxx 000-000 Xxxxxxx Xx. & 2908-2928 Xxxxx Xxxx Bedford
221 QZ30 Town & Country Villas 0000-0000 Xxxx Xxxx Xxxxxx Greenacres City
222 RA83 The Shops at Washington Point SWC of 120th Avenue & Washington St Northglenn
224 RB02 Tarmac-Sentara Building 0000 Xxxxxx Xxxxxx Xxxx Xxxxxxx
000 XX00 Four Seasons Apartments 0000 Xxxxx Xxxxx Corpus Christi
230 RC82 Xxxxxxxx Bluffs Mobile Home Park 0000 Xxxxx Xxxxxxxxxx Xxxxxx
231 RC69 Mallards Landing Apartments 0000 Xxxxxxx Xxxx Xxxxxxxxxxxx
000 RB55 Huntington Oaks Xxxxx Xxxx Xxxxxx Xxxx xx XX Xxxxxxx 00 Xxxxxxxxxxx
000 QT21G Colony Apartments 000 Xxxxxxxxx Xxxxx Xxxxxx
000 XX00 Xxxxx Shopping Center 000 Xxxxxxx Xxxxx Hialeah
240 RB52 Tysons Plaza Retail Center 0000 Xxxxxxxx Xxxx Xxxxxx Xxxxxx
000 XX00X Xxxxxxxxxx Apartments 00000 XX 0000 Xxxxxx
244 QZ19 Designer Shoe Warehouse Xxxxxxxxx Xxxxxx Xxxxxxxx xxx Xxxxxxx Xxxx Xxxxxxxxx
000 QY31 0000 XX 00xx Xxxxxx 0000 XX 00xx Xxxxxx Xxxxx
247 RC03 3300 Xxxxxxx Bridge Road 3300 Xxxxxxx Xxxxxx Xxxx Xxxxxxxx
000 XX00 00 Xxxxxxxx Xxxx 00 Xxxxxxxx Xxxx Xxxxx Xxxxxx
000 XX00 Day Hill Village Shoppes 555 Day Hill Road Windsor
251 QZ08 Cedar Pointe Apartments 0000 Xxxxxxxxx Xxxxx Xxxxxxx
Offer Cut-off Mortgage
Doc Original Date -------------------- Accrual
# State Balance ($) Balance ($) Rate (%) Maturity Method
--- ----- ----------- ----------- -------- -------- -------
190 TX 3,775,000 3,771,311 8.5100 9/1/07 Act/360
192 FL 3,720,000 3,718,625 8.5000 10/1/07 Act/360
193 CA 3,720,000 3,711,291 8.7200 7/1/07 30/360
194 TX 3,700,000 3,688,712 8.7100 7/1/22 Act/360
195 TX 3,670,000 3,668,187 7.7300 10/1/07 Act/360
197 GA 3,620,000 3,614,084 8.6700 7/1/07 Act/360
198 GA 3,600,000 3,588,345 9.1500 5/1/07 30/360
199 TX 3,600,000 3,588,272 9.1200 5/1/04 30/360
201 OH 3,550,000 3,548,384 7.9600 10/1/12 Act/360
203 PA 3,500,000 3,495,840 7.7900 9/1/07 Act/360
205 PA 3,500,000 3,486,313 9.0000 4/1/07 30/360
206 IN 3,450,000 3,445,183 7.8200 9/1/07 30/360
207 RI 3,400,000 3,398,622 8.2700 10/1/04 Act/360
208 TX 3,400,000 3,396,659 8.4900 9/1/07 Act/360
211 FL 3,400,000 3,384,300 8.8800 6/1/07 30/360
212 MN 3,375,000 3,373,768 8.5300 10/1/07 Act/360
213 CA 3,400,000 3,373,703 8.6800 8/1/12 Act/360
188 TX 3,350,000 3,342,286 8.8000 7/1/04 30/360
219 TX 3,300,000 3,288,751 8.9000 5/1/07 30/360
220 TX 3,300,000 3,281,916 8.9700 5/1/04 30/360
221 FL 3,250,000 3,234,030 8.5000 6/1/07 30/360
222 CO 3,250,000 3,230,658 7.7050 9/1/12 30/360
224 VA 3,100,000 3,096,954 8.4900 9/1/07 Act/360
225 TX 3,100,000 3,096,346 7.8220 9/1/07 Act/360
230 CA 3,000,000 2,998,549 7.7900 10/1/07 Act/360
231 FL 3,000,000 2,998,544 7.7800 10/1/07 Act/360
232 FL 3,000,000 2,996,822 8.2200 9/1/07 Act/360
233 TX 2,960,000 2,943,735 8.0000 3/1/04 30/360
234 FL 2,935,500 2,929,205 7.9000 9/1/07 30/360
240 VA 2,800,000 2,796,539 8.4200 9/1/07 30/360
243 TX 2,800,000 2,784,614 8.0000 3/1/04 30/360
244 CO 2,790,000 2,775,546 9.1400 7/1/17 Act/360
246 FL 2,750,000 2,736,203 9.5040 5/1/07 30/360
247 GA 2,700,000 2,699,026 8.5600 10/1/07 Act/360
248 NY 2,700,000 2,697,652 7.8000 10/1/07 Act/360
250 CT 2,700,000 2,695,400 8.5500 7/1/07 Act/360
251 TX 2,700,000 2,695,146 8.3900 7/1/04 Act/360
Page 4 of 7
Offer
Doc Loan
# # Property Name Address City
--- ---- ------------- ------- ----
252 QZ89 Xxxxxxxxx Xxxxxx Xxxxxxxx Xxxxxx 0000-0000 Xxxx Xx. Xxxxxxxx
253 RC46 Coliseum Self Storage 0000 Xxxxxxxx Xxx Xxxxxxx
000 XX00 Mission Center 0000 Xxxxxxx Xxxxxx Cypress
256 RC11 Clearlake Shopping Center 0000 Xxxxxxxxx Xxxxxxxxx Cocoa
258 RB98 Xxxxxxx Xxxxxx Xxxxxxxxxx 00000 Xxxxxxxx Xxxxx Wheaton
260 QY75 North Park Plaza NW Corner Arizona Ave. & Ray Rd. Xxxxxxxx
263 QZ85 Xxxxxxxxx Xxxxxxx Xxxxxxxx Xxxxxx 00000 Xxxxx Xxxxxxxxxx Xxx. Dallas
264 RA30 Wexford Square Apartments 000 X. 00xx Xx. Xxxxxxxxxxx
265 QY45 Shoppes of Xxxxxx City 12125-12397 Sheridan St. Xxxxxx City
267 RB31 Willow Xxxxx Apartments 7474 Xx Xxxxxx Way Sacramento
269 QT21H Confederate Ridge Apartments 000 Xxxxxxx 00 Xxxxx Xxxxxx Xxxxxxxxx
270 RD65 Auto/Retail (2450 S. Military Trail) 0000 X. Xxxxxxxx Xxxxx Xxxx Xxxx Xxxxx
271 RA99 Wood Creek Apartments 000 Xxxxx Xxxxxxx Xxxx Xxxxx
000 QZ90 Xxxxxxx Xxxxx Commons S.C. 000 Xxxxxxxx Xx. East Lyme
273 QY49 Nob Hill Apartments 0000 Xxxxx Xxxxx Xxxxxx Tacoma
277 RA69 St. Mary's 551 0xx Xx. Xxxxx Xxxxxxx
000 XX00 Xxxxxxx Apartments 0000 Xxxxx Xxxxxx Xxx. Los Angeles
279 RD78 Lakeview Apartments 0000 Xxxx Xxxx Xxxxxx Lorain
280 RD39 Devonshire Shopping Center XXX 000xx Xx. & Xxx-Xxx Xx. Xxxxxx
000 RB84 Georgetown Apartments 000 X. Xxxxxxxxx Xxxxx Xxxxxxxxx
282 RB49 Shamrock Park Apartments 1440 College Way Olathe
285 QZ96 Summit at Woodhaven Apartments 0000 Xxxxxxx Xxxxx Xxxxx Xxxx Xxxxx
287 RD20 Hibiscus Center 0000 Xxxxxxx Xxxxx Naples
288 RB15 Towers Garden Apartments 0000 Xxxxxxxxx Xxxxxxx Xxxxxxx
289 RB03 Greenbriar Plaza Shopping Center 0000-0000 Xxxxx Xxxxx Xxxxxx Denver
290 QZ70 Point Place II 000 Xxxxxxxx Xxxx Nashville
295 RC36 0000-0000 Xxxxx Xxxxxx 0000-0000 Xxxxx Xxxxxx Xxx Xxxx
296 RB87 North Pointe Plaza Shopping Center 5420-5430 North Xxxxx Street Charlotte
297 RB10 French Quarter Apartments 0000 Xxxxxx Xxxx Isla Vista
300 RA82 Sherwood Arms Apartments 0000 Xxxxx Xxxxx Xxxxxxxx
301 QZ18 Irongate Village Shopping Center 0000-00 Xxxx Xxxxxx Xxxx Xxxxxxxx
302 QY97 Xxxxxx Club Apartments 0000 Xxxxx Xxxxxx Xx. Orlando
305 RB34 Mission Station 0000 Xxxxxxx Xx. Xxx Xxxxxxx
000 XX00 El Xxxxxxx Apartments 00000 Xx Xxxxxxx Xxxxx Xxxxxx Xxxxxxx
308 QT89 Santa Xxxx Plaza Shopping Center 0000 Xxxx Xxxxxx Xxxxxxx Gulf Breeze
309 RB91 The Hermitage 000 Xxxxxxxxx Xxxxx Xxxxxxx
000 XX00 A Rite-Aid Pharmacy - Manhattan Blvd. 000 Xxxxxxxxx Xxxx. Toldeo
314 RA62 A Rite-Aid Pharmacy - Sylvania Ave. 0000 Xxxxxxxx Xxx. Toledo
Offer Cut-off Mortgage
Doc Original Date -------------------- Accrual
# State Balance ($) Balance ($) Rate (%) Maturity Method
--- ----- ----------- ----------- -------- -------- -------
252 CT 2,700,000 2,694,669 8.1000 7/1/07 Act/360
253 CA 2,700,000 2,692,537 8.5000 10/1/12 30/360
254 CA 2,700,000 2,691,259 9.1500 5/1/07 30/360
256 FL 2,600,000 2,600,000 7.9900 11/1/07 Act/360
258 MD 2,600,000 2,596,570 8.1000 9/1/04 30/360
260 AZ 2,600,000 2,592,807 9.0100 6/1/07 30/360
263 SC 2,500,000 2,492,741 8.5500 8/1/07 30/360
264 MN 2,500,000 2,491,906 8.4500 7/1/22 Act/360
265 FL 2,500,000 2,491,161 8.7220 5/1/04 30/360
267 CA 2,445,000 2,441,908 7.5500 9/1/07 Act/360
269 MS 2,425,750 2,412,421 8.0000 3/1/04 30/360
270 FL 2,400,000 2,400,000 8.0800 11/1/12 Act/360
271 OK 2,400,000 2,396,142 7.9400 8/1/07 Act/360
272 CT 2,400,000 2,395,261 8.1000 7/1/07 Act/360
273 WA 2,400,000 2,391,184 8.5350 5/1/04 30/360
277 MN 2,325,000 2,319,749 8.8700 8/1/07 Act/360
278 CA 2,320,000 2,313,214 8.7400 6/1/07 30/360
279 OH 2,300,000 2,300,000 7.5100 11/1/07 Act/360
280 KS 2,295,000 2,293,509 8.1600 10/1/07 30/360
281 SC 2,275,000 2,272,933 7.6100 10/1/07 Act/360
282 KS 2,275,000 2,272,469 8.0400 9/1/07 Act/360
285 TX 2,260,000 2,254,104 8.1900 7/1/07 30/360
287 FL 2,250,000 2,248,944 7.8760 10/1/04 Act/360
288 GA 2,250,000 2,245,357 7.9100 8/1/07 30/360
289 CO 2,250,000 2,244,275 8.3300 8/1/07 Act/360
290 TN 2,240,000 2,234,690 8.7300 7/1/07 Act/360
295 NY 2,200,000 2,197,179 8.8400 10/1/07 Act/360
296 NC 2,175,000 2,171,313 8.5400 9/1/07 Act/360
297 CA 2,169,000 2,165,115 7.5600 8/1/07 Act/360
300 GA 2,160,000 2,155,702 8.0900 8/1/07 30/360
301 VA 2,128,000 2,121,737 8.7100 6/1/07 30/360
302 FL 2,125,000 2,118,577 8.5800 6/1/07 30/360
305 TX 2,100,000 2,097,344 7.5500 9/1/07 Act/360
306 CA 2,100,000 2,097,344 7.5500 9/1/07 Act/360
308 FL 2,100,000 2,091,703 8.9500 4/1/04 30/360
309 FL 2,050,000 2,047,557 7.7800 9/1/07 Act/360
310 OH 2,044,000 2,039,470 7.7900 7/1/17 30/360
314 OH 2,008,000 2,003,550 7.7900 7/1/17 30/360
Page 5 of 7
Offer
Doc Loan
# # Property Name Address City
--- ---- ------------- ------- ----
317 RD06 00 Xxxxx Xxxxxxxx Xxx 00 Xxxxx Xxxxxxxx Xxx Xxxxxxx Xxxxxxxx
000 XX00 Mac Frugal's Plaza 000 X Xxxxxxxx Xxxxxx Xxxx
319 QZ25 0000 Xxxxx Xxxxxxx Xxxxxx 0000 Xxxxx Xxxxxxx Xxxxxx Los Angeles
321 QZ12 Commerce Center 0000 X. Xxxxxxx Xxxx. Ft. Lauderdale
323 RC56 Bridgestone Apartments 0000 Xxxxxxxxxxx Xxxxxx Xxxxxxxxxx
000 XX00 A Rite-Aid Pharmacy - Main Street 000 Xxxx Xxxxxx Xxxxxx
327 RD63 Auto/Retail (2501 Sample Road) 0000-0000 X. Xxxxxx Xxxx Pompano Beach
329 QZ44 Xxxxx Xxxxxxx Xxxxxxxxxx 0000 Xxxx Xx Xxxxxxx Blvd. Hawthorne
331 RA26 Holiday Inn & Suites 300 East Washington Blvd. Fort Xxxxx
332 RB74 Rancho San Xxxxxx Mobile Home Park 000 Xxx Xxxxxx Xxxxxx San Xxxxxx
335 RA72 Willow Park Apartments 0000 Xxxx Xxx Xxxx Xxxxxx Xxxx
337 RD27 Crestwood Apartments 0000 Xxxxx 00xx Xxxxxx Xxxxxx City
338 RB19 French Embassy Apartments 0000 Xxxxx Xxxxxxxxx Xxxxxx
341 QY35 Dairy Ashford Village 0000 Xxxxx Xxxxxxx Xxxx Xxxxxxx
344 RB01 Englewood Apartments 0000 X.X. Xxxxxxxx Xxxxx Xxxxxx City
345 QZ93 The Xxxxxxx 0000 Xxxxxx Xxxx Xxxx
350 QZ87 Gardens of Victoria Apartments 000 Xxxxxxxxxxxx Xxxxxx Xxxxxxxx
351 QY87 Woodland Terrace Apartments Xxxxxxxxx Street Auburn
354 RC00 Southwood Village Shopping Center Xxxxxxxxx Xxxx xx Xxxxxxxxxx Xxxx Xxxxxxxxx
000 XX00 Xx Casa 109 & 000 X. 00xx Xxxxxx Xxxxxx
000 XX00 Xxxxxxx Xxxxxx Xxxxxx Xxxx 3650 North Xxxxxxx Blvd. Dallas
363 RA16 Northridge & Quail Hollow Apartments 000 Xxxxxx Xxxx & 901-907 Liberty Manor Hinesville
367 RC83 McKellips Shopping Center NEC of XxXxxxxxx Xx & Center Street Mesa
368 RB40 Trinity Oaks Shopping Center 000-000 XX Xxxxx Xxxx Xxxxxxxxx Xxxxxxxxx
370 QY88 Carob Tree Apartments 0000 Xxxxx 00xx Xxx. Xxxxxxx
371 QZ17 Sentinel Square 00-00 Xxxx Xxxxxx Xxxx Xxxxxx
374 RA28 Southwest Oaks Apartments 0000 Xxxxxxx Xx. Odessa
Offer Cut-off Mortgage
Doc Original Date -------------------- Accrual
# State Balance ($) Balance ($) Rate (%) Maturity Method
--- ----- ----------- ----------- -------- -------- -------
317 PA 2,000,000 1,998,995 7.6800 10/1/07 Act/360
318 AZ 2,000,000 1,998,732 8.2800 10/1/07 30/360
319 CA 2,000,000 1,997,260 9.1500 7/1/07 Act/360
321 FL 2,000,000 1,994,444 8.9900 6/1/04 30/360
323 AR 1,990,000 1,987,894 7.9600 10/1/22 30/360
325 OH 1,956,000 1,953,856 7.7900 9/1/17 30/360
327 FL 1,950,000 1,950,000 8.0800 11/1/12 Act/360
329 CA 1,950,000 1,938,977 8.5900 7/1/17 Act/360
331 IN 1,900,000 1,893,030 8.9000 7/1/04 30/360
332 AZ 1,900,000 1,892,273 8.2500 9/1/15 Act/360
335 GA 1,830,000 1,826,425 8.1800 8/1/07 30/360
337 KS 1,800,000 1,798,719 7.7100 10/1/06 30/360
338 TX 1,800,000 1,796,233 7.8400 8/1/04 30/360
341 TX 1,730,000 1,724,585 9.3130 5/1/07 30/360
344 MO 1,700,000 1,696,548 7.9900 8/1/04 30/360
345 TX 1,700,000 1,693,198 8.3700 7/1/04 30/360
350 TX 1,640,000 1,637,406 7.9950 8/1/04 Act/360
351 AL 1,625,000 1,620,382 8.8800 6/1/07 30/360
354 VA 1,600,000 1,599,330 8.0300 10/1/07 Act/360
356 TX 1,600,000 1,587,810 8.9800 6/1/17 30/360
357 TX 1,575,000 1,574,401 8.4300 10/1/07 Act/360
363 GA 1,520,000 1,517,357 8.4900 7/1/07 Act/360
367 AZ 1,500,000 1,498,832 8.2600 10/1/04 Act/360
368 TX 1,500,000 1,497,796 8.2400 8/1/07 Act/360
370 AZ 1,500,000 1,492,533 8.4200 6/1/07 30/360
371 NY 1,500,000 1,485,209 9.0700 7/1/07 Act/360
374 TX 1,450,000 1,448,165 8.7100 8/1/07 Act/360
Page 6 of 7
Offer
Doc Loan
# # Property Name Address City
--- ---- ------------- ------- ----
378 RD14 Camden Corners Shopping Xxxxxx XX Xxxxxxx 00 & Xxxxxxx Xxxx Xxxxxxxxx
380 RC18 000 Xxxxx Xxxx 000 Xxxxx Xxxx Xxxxx Xxxxx
000 XX00 Alfa-Laval Separators, Inc. 0000 Xxxxxxx Xxxxxxxxx Xxxxxxxxxx
389 RB14 00000 Xxxxxxxxx Xxxxx 00000 Xxxxxxxxx Xxxxx Xxxxxxxx
000 XX00 Xxxxxxx Xxxxxx 0000 Xxxxxxxx Xxxxxxx Pasadena
395 RA84 Twenty Mile Mini-Storage 00000 Xxxxx Xxx Xxxxxx
396 RC35 0000-0000 Xxxxxxxxxx Xxxx 0000-0000 Xxxxxxxxxx Xx. Northfield
400 QY25 Fairmont Central Shopping Center 0000-0000 Xxxxxxxx Xxxxxxx Pasadena
401 RA13 Flagler Inn 0000 Xxxxxxxxxx Xxxxxx Xxxx Xxxx Xxxxx
406 RA17 Berkshire Terrace Apartments 900-909, 000-000 Xxxxxxxxx Xxxxxxx Hinesville
407 RD51 Shops at Merchants Walk 4235 Merchants Walk Drive Marietta
408 RD36 Ten Quivira Outparcel Building NWQ Shawnee Mission Pkwy & Quivira Rd. Shawnee
410 RA78 Casa Grande 0000-0000 Xxxx Xxxxxxxx Xxxxxxxxx Xxxx Grande
413 QY60 Fountain Court Plaza 0000 Xxxxx Xxx Xxxxxxxxxxx
420 RD69 Auto/Retail (2530 W. Commercial) 0000 Xxxx Xxxxxxxxxx Xxxxxxxxx Tamarac
421 RC20 0000 Xxxxx Xxxx 0000 Xxxxx Xxxx Xxxxx Xxxxx
427 RD68 Auto/Retail (1000-1050 Commercial) 0000-0000 Xxxxxxxxxx Xxxxxxxxx Xxxx Xxxxxxxxxx
189 RC87 Lakeway Plaza II 0000 Xxxxx Xxxx 620 Lakeway
Offer Cut-off Mortgage
Doc Original Date -------------------- Accrual
# State Balance ($) Balance ($) Rate (%) Maturity Method
--- ----- ----------- ----------- -------- -------- -------
378 GA 1,425,000 1,424,361 8.0000 10/1/07 Act/360
380 FL 1,400,000 1,398,924 8.3100 10/1/07 Act/360
381 VA 1,400,000 1,398,463 8.0900 9/1/07 Act/360
389 TX 1,325,000 1,321,379 7.9830 8/1/07 Act/360
393 TX 1,300,000 1,292,923 9.0100 5/1/07 30/360
395 CO 1,250,000 1,248,118 8.1600 8/1/07 Act/360
396 OH 1,235,000 1,234,127 8.6400 10/1/07 Act/360
400 TX 1,200,000 1,193,467 9.0100 5/1/07 30/360
401 FL 1,173,000 1,168,597 8.7600 7/1/07 30/360
406 GA 1,100,000 1,098,088 8.4900 7/1/07 Act/360
407 GA 1,035,000 1,035,000 8.0100 11/1/07 Act/360
408 KS 1,030,000 1,029,331 8.1600 10/1/07 30/360
410 AZ 1,010,000 1,008,078 8.3100 8/1/04 30/360
413 CA 950,000 945,897 9.1900 5/1/07 30/360
420 FL 850,000 850,000 8.0800 11/1/12 Act/360
421 FL 850,000 849,347 8.3100 10/1/07 Act/360
427 FL 700,000 700,000 8.0800 11/1/12 Act/360
189 TX 450,000 449,722 8.5200 7/1/04 30/360
Totals: 1,100,931,271 1,097,817,189
Page 7 of 7
EXHIBIT B
EXCEPTIONS TO SECTION 2(C)
None.
EXHIBIT C
EXCEPTIONS TO CLAUSE VIII OF SCHEDULE I
XXXXXX BROTHERS
FU - LB Conduit 1997-C2 ** BLACK **
Records: 2
Balance: 5,003,717.09
Selection: 2nd Liens
===================================================================================================================================
Offer
Doc Loan Original Cut-off Date Mortgage Accrual
# # Property Name Address City State Balance Balance Rate Maturity Method
-----------------------------------------------------------------------------------------------------------------------------------
54 QY86 Avalon Manor Note B 00000 Xxxxx Xxxx Xxxxxxxxxx XX 4,580,000 4,553,995 7.603 6/1/07 30/360
189 RC87 Lakeway Plaza II 0000 Xxxxx Xxxx 000 Xxxxxxx XX 450,000 449,722 8.520 7/1/04 30/360
-----------------------------------------------------------------------------------------------------------------------------------
Totals: 5,030,000 5,003,717
===================================================================================================================================
EXHIBIT D
EXCEPTIONS TO CLAUSE XVI OF SCHEDULE I
====================================================================================================================================
XXXXXX BROTHERS
FU - LB Conduit 1997-C2 *** FINAL BLACK ***
Page 1 of 3
Report: LOANSCHE
Records: 110 MON, DEC 8, 1997 12:44 PM
Balance: 617,051,052.20 Prepared by:XXXXXX
Selection: POOL = Xxxxxx Brothers; Actual/360 S:/XXXXXX/CONDUIT2/BLACK
====================================================================================================================================
------------------------------------------------------------------------------------------------------------------------------------
Prospectus Loan
# # Property Name Address City
------------------------------------------------------------------------------------------------------------------------------------
1 RA35 Rentar 00-00 Xxxxxxxxxxxx Xxxxxx Xxxxxx Xxxxxxx
00 XX00 Xxx Xxxxx Xxxxx X. Xxxx of Loop 000 X. xx Xxx Xxxxx Xxxx. San Antonio
13 RB69 Pinole Vista Crossing IH-80 & Xxxxxxxxxx Drive Pinole
14 QZ41 000 Xxxxx Xxxxxx 000 Xxxxx Xxx. Xxx Xxxx
15 RA73 Citrus Xxxxxx Xxxxxx Xxxxxxxx 000 X. Xxxxxx Xxxxxx Xxxxxxx
00 RB58 Park Esplanade Apartments 0000 Xxxxxxxxx Xxx. New Orleans
19 QZ04 Xxxxxx Portfolio (Roll-up) Xxxxxxx Xxxxxxx
00 XX00 Xxxxx Xxxxxx Plaza 000-00 Xxxxxxxxxx Xxxxxxxxx Xxxxxxxx
23 RB66 Sheraton Orlando North 000 Xxxxx Xxxx Xxxxxxx Xxxxx Xxxxxxxx
29 QZ40 000 Xxxxx Xxxxxx 000 Xxxxx Xxx. Xxx Xxxx
35 RD48 Trexlertown Shopping Center 0000 Xxxxxxxx Xxxx. Upper and Lower Macungie
37 RB67 Berkley Square 0000 Xxxx Xxxxxxxxx Xxxxx
41 RA12 Palm Court Apartments 3995 Overland Avenue Xxxxxx City
43 RC09 Yaohan Plaza Torrance 00000 Xxxxxxx Xxxxxx Xxxxxxxx
45 RB07 The Deauville 0000 Xxxxxx Xxx Xxx Xxxxxxx
46 RA53 The NorthCorp Center 0000 XXX Xxxx. Xxxx Xxxxx Xxxxxxx
59 RA81 0000 Xxxxx Xxxx Xxxxxx 0000 Xxxxx Xxxx Xx. Xxx Xxxxxxx
61 RC10 Yaohan Plaza Costa Mesa 000 Xxxxxxxxx Xxxxxx Xxxxx Xxxx
65 QZ72 Xxxxxxx Shopping Center Montauk Highway & Xxxxxxx Xxxxx Parkway Xxxxxxx
00 XX00 Xxxxxxxxx Xxxxx Apartments 000 Xxxxxxx Xxxxx Xxxxxxxxx
00 XX00 Xxxx Tower 000 X. Xxxxx Xxx Xxxxxxxxx Xxxxx Xxx
77 RA88 Grandin Ridge Apartments 0000 Xxxxxxx Xxxxx Xxxx Xxxxxxxx
84 RC39 Key Biscayne Galeria 328 Crandon Blvd. Key Biscayne
91 RA70 Main Street Village Apartments 0000 Xxxx Xx. Xxxxxxxx
00 XX00 Xxxxxxx Apartments 0000 X. 000xx Xxxxxx Torrance
96 QZ56 Reisterstown Business Center 000-000 Xxxxxxxx Xxxxxx Xxx Xxxxxxxxxxxx
97 RB96 Nob Hill Apartments - Madison 0000 Xxxxxxxx Xxxx Xxxxxxx
000 XX00 Chimney Sweep Apartments 000 Xxxxxx Xxx Xxx Xxxx Xxxxx
114 RC38 Nob Hill Apartments - Birmingham 800 Valley Ave. Birmingham
116 QZ34 The Benchmark 000 Xxx Xxxxxxx Xxxx Mineola
119 RB41 The Xxxxxxx Building 0000 Xxxx 0xx Xxxxxx Xxxxxxxxx
126 RD50 Vanguard Distribution Building 00000 Xxxxx Xxxxxxxx Los Angeles
136 RA68 Dayton's Bluff Community Care Center 000 Xxxxxxx Xxxxxxx Xx. Xxxx
140 RC25 Xxxxxxx Xxxxxxx Xxxxxxxx Xxxxxx XXX Xxxxxxx Xxxx. & Quivira Road Overland Park
143 QZ14 Xxxxxx Xxxxx Xxxxxxxxxx 000 Xxxxx Xxxxx Xxxxx Tempe
147 RB08 Southington Queen Plaza 000-000 Xxxxx Xxxxxx Xxxxxxxxxxx
151 RB80 University Roost Apartments 000 X. Xxxxxxxxx Xxxx Flagstaff
154 QZ91 0000 Xxxx Xxxx 0000 Xxxxxxxxx Post Road Southport
155 RA98 Westgate Plaza SEC US 64/Roller Mill Road Franklin
158 RB50 Xxxxx Xxxxx Xxxxxxxxxx 0000 Xxxxxxx Xxxxx Xxxxxxxxx
160 QZ81 Xxxxxxxxx Xxxxx Xxxxxxxxxx 0000 Xxxx Xxxxxxx Xxxxxxx
161 QY98 Zinfandel Ranch Apartments 00000 Xxxxxx Xxxxxxxxx Xxxxxx Xxxxxxx
165 RC01 Xxxxxxxx Creek Shopping Center Xxxxxxxx Creek Road Stevensville
170 RB57 National Hills Shopping Center 0000 Xxxxxxxxxx Xx. Augusta
====================================================================================================================================
-------------------------------------------------------------------------------------
Cut-off
Prospectus Original Date Mortgage Accrual
# State Balance Balance Rate Maturity Method
-------------------------------------------------------------------------------------
1 NY 45,500,000 45,416,841 8.340 7/1/07 Act/360
10 TX 28,687,500 28,670,846 7.240 10/1/02 Act/360
13 CA 23,000,000 22,988,718 7.750 10/1/12 Act/360
14 NY 23,000,000 22,901,796 8.420 6/1/22 Act/360
15 FL 21,375,000 21,315,575 7.910 8/1/07 Act/360
18 LA 20,000,000 19,977,150 7.940 9/1/07 Act/360
19 PA 20,000,000 19,958,798 8.930 6/1/07 Act/360
20 NY 19,125,000 19,093,718 7.880 8/1/07 Act/360
23 FL 18,000,000 17,970,413 8.690 9/1/04 Act/360
29 NY 16,500,000 16,460,174 8.420 6/1/12 Act/360
35 PA 13,100,000 13,093,282 7.620 10/1/07 Act/360
37 TX 12,500,000 12,488,265 8.650 9/1/07 Act/360
41 CA 11,790,000 11,773,564 8.410 8/1/07 Act/360
43 CA 10,500,000 10,495,288 8.000 10/1/12 Act/360
45 CA 10,000,000 9,986,732 7.360 9/1/07 Act/360
46 FL 10,000,000 9,985,351 8.250 8/1/07 Act/360
59 CA 8,800,000 8,783,677 8.090 9/1/04 Act/360
61 CA 8,500,000 8,496,186 8.000 10/1/12 Act/360
65 NY 8,250,000 8,234,773 8.310 7/1/07 Act/360
69 TN 7,500,000 7,495,930 7.450 10/1/07 Act/360
70 CA 7,500,000 7,487,785 8.680 7/1/04 Act/360
77 GA 7,140,000 7,127,772 7.720 8/1/07 Act/360
84 FL 7,000,000 6,996,673 7.840 10/1/07 Act/360
91 GA 6,600,000 6,592,053 7.740 9/1/12 Act/360
93 CA 6,500,000 6,488,356 7.560 8/1/07 Act/360
96 MD 6,400,000 6,389,097 8.550 7/1/07 Act/360
97 WI 6,350,000 6,342,551 7.840 9/1/12 Act/360
111 CA 5,750,000 5,739,700 7.560 8/1/07 Act/360
114 AL 5,500,000 5,497,367 7.820 10/1/07 Act/360
116 NY 5,500,000 5,488,961 9.010 6/1/07 Act/360
119 OH 5,400,000 5,391,697 8.090 8/1/04 Act/360
126 CA 5,100,000 5,096,859 7.793 10/1/07 Act/360
136 MN 4,800,000 4,789,403 8.970 8/1/07 Act/360
140 KS 4,750,000 4,748,045 8.230 10/1/07 Act/360
143 AZ 4,750,000 4,741,261 8.320 7/1/07 Act/360
147 CT 4,700,000 4,692,155 7.810 8/1/07 Act/360
151 AZ 4,600,000 4,597,585 7.550 10/1/07 Act/360
154 CT 4,510,000 4,501,095 8.100 7/1/07 Act/360
155 NC 4,500,000 4,495,259 8.240 9/1/07 Act/360
158 TX 4,475,000 4,465,732 7.520 9/1/04 Act/360
160 TX 4,450,000 4,440,878 7.980 7/1/07 Act/360
161 CA 4,450,000 4,438,772 8.270 6/1/07 Act/360
165 MD 4,350,000 4,345,341 8.180 9/1/07 Act/360
170 GA 4,100,000 4,095,982 8.500 9/1/07 Act/360
====================================================================================
====================================================================================================================================
XXXXXX BROTHERS
FU - LB Conduit 1997-C2 *** FINAL BLACK ***
Page 2 of 3
Report: LOANSCHE
Records: 110 MON, DEC 8, 1997 12:44 PM
Balance: 617,051,052.20 Prepared by:XXXXXX
Selection: POOL = Xxxxxx Brothers; Actual/360 S:/XXXXXX/CONDUIT2/BLACK
====================================================================================================================================
------------------------------------------------------------------------------------------------------------------------------------
Prospectus Loan
# # Property Name Address City
------------------------------------------------------------------------------------------------------------------------------------
176 RB46 The Hampton Inn 0000 Xxxxx Xxxxxxxxx Xxxxxx Xxxxxxxxxxxx
190 RB72 Xxxxxx Park Shopping Center 0000 Xxxxxx Xxxx Xxxxx
000 XX00 Xxxxxxxxx Xxxx at Xxxxxxx 00000 XX 000xx Xxxxxx Xxxxx
194 QZ50 Xxxxxxx Xxxxxx Center 0000 Xxxxxx Xxxx Xxxxxx
000 XX00 Huntington Circle 000 X. Xxxxxxx 000 Lewisville
197 QZ92 Planters Walk Shopping Center 0000 Xxxx Xxxx. Xxxxxxxxx
201 RC42 Nassau Eden Club Apartments 2100 Sinton, 925-963 Auburnview, Cincinnati
203 RB51 Willow Garden Apartments 000 Xxxxxx Xxxxxx Xxxxxxxxx
000 XX00 Xxxxx Xxxxx Plaza 000 Xxxxxxxxx Xxxxxx Xxxxxxxx
000 XX00 Xxxxxxx at Central 0000 Xxxxxxx Xxxxx Xxxxxxx
212 RC58 Xxxxxxx Tech Center 0000 Xxxxx Xxxxxx Xxxxxx Xxxxxxx
213 QZ79 Mariner's Point 00000 Xxxxxxx Xxxxx Xxxxxxx Xxxxxxxxxx Xxxxx
000 XX00 Tarmac-Sentara Building 0000 Xxxxxx Xxxxxx Xxxx Xxxxxxx
000 XX00 Four Seasons Apartments 0000 Xxxxx Xxxxx Corpus Christi
230 RC82 Xxxxxxxx Bluffs Mobile Home Park 0000 Xxxxx Xxxxxxxxxx Xxxxxx
231 RC69 Mallards Landing Apartments 0000 Xxxxxxx Xxxx Xxxxxxxxxxxx
000 RB55 Huntington Oaks Xxxxx Xxxx Xxxxxx Xxxx xx XX Xxxxxxx 00 Xxxxxxxxxxx
000 QZ19 Designer Shoe Warehouse Xxxxxxxxx Xxxxxx Xxxxxxxx xxx Xxxxxxx Xxxxxx Xxxxxxxxx
000 RC03 3300 Xxxxxxx Bridge Road 3300 Xxxxxxx Xxxxxx Xxxx Xxxxxxxx
000 XX00 00 Xxxxxxxx Xxxx 00 Xxxxxxxx Xxxx Xxxxx Xxxxxx
000 XX00 Day Hill Village Shoppes 555 Day Hill Road Windsor
251 QZ08 Cedar Pointe Apartments 0000 Xxxxxxxxx Xxxxx Xxxxxxx
252 QZ89 Xxxxxxxxx Xxxxxx Xxxxxxxx Xxxxxx 0000-0000 Xxxx Xx. Xxxxxxxx
256 RC11 Clearlake Shopping Center 0000 Xxxxxxxxx Xxxxxxxxx Xxxxx
000 XX00 Xxxxxxx Square Apartments 000 X. 00xx Xx. Xxxxxxxxxxx
267 RB31 Willow Xxxxx Apartments 0000 Xx Xxxxxx Xxx Xxxxxxxxxx
270 RD65 Auto/Retail (2450 S. Military Trail) 0000 X. Xxxxxxxx Xxxxx Xxxx Xxxx Xxxxx
271 RA99 Wood Creek Apartments 000 Xxxxx Xxxxxxx Xxxx Xxxxx
000 QZ90 Xxxxxxx Xxxxx Commons S.C. 000 Xxxxxxxx Xx. Xxxx Xxxx
000 XX00 St. Mary's 000 0xx Xx. Xxxxx Winsted
279 RD78 Lakeview Apartments 0000 Xxxx Xxxx Xxxxxx Lorain
281 RB84 Georgetown Apartments 000 X. Xxxxxxxxx Xxxxx Xxxxxxxxx
282 RB49 Shamrock Park Apartments 0000 Xxxxxxx Xxx Olathe
287 RD20 Hibiscus Center 0000 Xxxxxxx Xxxxx Naples
289 RB03 Greenbriar Plaza Shopping Center 0000-0000 Xxxxx Xxxxx Xxxxxx Denver
290 QZ70 Point Place II 000 Xxxxxxxx Xxxx Nashville
295 RC36 0000-0000 Xxxxx Xxxxxx 0000-0000 Xxxxx Xxxxxx Xxx Xxxx
296 RB87 North Pointe Plaza Shopping Center 5420-5430 North Xxxxx Street Charlotte
297 RB10 French Quarter Apartments 0000 Xxxxxx Xxxx Xxxx Xxxxx
000 XX00 Mission Station 0000 Xxxxxxx Xx. Xxx Xxxxxxx
000 XX00 El Xxxxxxx Apartments 00000 Xx Xxxxxxx Xxxxx Xxxxxx Xxxxxxx
309 RB91 The Hermitage 000 Xxxxxxxxx Xxxxx Xxxxxxx
317 RD06 00 Xxxxx Xxxxxxxx Xxx 00 Xxxxx Xxxxxxxx Xxx Xxxxxxx Xxxxxxxx
000 XX00 0000 Xxxxx Xxxxxxx Xxxxxx 0000 Xxxxx Xxxxxxx Xxxxxx Xxx Xxxxxxx
====================================================================================================================================
-------------------------------------------------------------------------------------
Cut-off
Prospectus Original Date Mortgage Accrual
# State Balance Balance Rate Maturity Method
-------------------------------------------------------------------------------------
176 IN 4,000,000 3,993,109 8.460 9/1/07 Act/360
190 TX 3,775,000 3,771,311 8.510 9/1/07 Act/360
192 FL 3,720,000 3,718,625 8.500 10/1/07 Act/360
194 TX 3,700,000 3,688,712 8.710 7/1/22 Act/360
195 TX 3,670,000 3,668,187 7.730 10/1/07 Act/360
197 GA 3,620,000 3,614,084 8.670 7/1/07 Act/360
201 OH 3,550,000 3,548,384 7.960 10/1/12 Act/360
203 PA 3,500,000 3,495,840 7.790 9/1/07 Act/360
207 RI 3,400,000 3,398,622 8.270 10/1/04 Act/360
208 TX 3,400,000 3,396,659 8.490 9/1/07 Act/360
212 MN 3,375,000 3,373,768 8.530 10/1/07 Act/360
213 CA 3,400,000 3,373,703 8.680 8/1/12 Act/360
224 VA 3,100,000 3,096,954 8.490 9/1/07 Act/360
225 TX 3,100,000 3,096,346 7.822 9/1/07 Act/360
230 CA 3,000,000 2,998,549 7.790 10/1/07 Act/360
231 FL 3,000,000 2,998,544 7.780 10/1/07 Act/360
232 FL 3,000,000 2,996,822 8.220 9/1/07 Act/360
244 CO 2,790,000 2,775,546 9.140 7/1/17 Act/360
247 GA 2,700,000 2,699,026 8.560 10/1/07 Act/360
248 NY 2,700,000 2,697,652 7.800 10/1/07 Act/360
250 CT 2,700,000 2,695,400 8.550 7/1/07 Act/360
251 TX 2,700,000 2,695,146 8.390 7/1/04 Act/360
252 CT 2,700,000 2,694,669 8.100 7/1/07 Act/360
256 FL 2,600,000 2,600,000 7.990 11/1/07 Act/360
264 MN 2,500,000 2,491,906 8.450 7/1/22 Act/360
267 CA 2,445,000 2,441,908 7.550 9/1/07 Act/360
270 FL 2,400,000 2,400,000 8.080 11/1/12 Act/360
271 OK 2,400,000 2,396,142 7.940 8/1/07 Act/360
272 CT 2,400,000 2,395,261 8.100 7/1/07 Act/360
277 MN 2,325,000 2,319,749 8.870 8/1/07 Act/360
279 OH 2,300,000 2,300,000 7.510 11/1/07 Act/360
281 SC 2,275,000 2,272,933 7.610 10/1/07 Act/360
282 KS 2,275,000 2,272,469 8.040 9/1/07 Act/360
287 FL 2,250,000 2,248,944 7.876 10/1/04 Act/360
289 CO 2,250,000 2,244,275 8.330 8/1/07 Act/360
290 TN 2,240,000 2,234,690 8.730 7/1/07 Act/360
295 NY 2,200,000 2,197,179 8.840 10/1/07 Act/360
296 NC 2,175,000 2,171,313 8.540 9/1/07 Act/360
297 CA 2,169,000 2,165,115 7.560 8/1/07 Act/360
305 TX 2,100,000 2,097,344 7.550 9/1/07 Act/360
306 CA 2,100,000 2,097,344 7.550 9/1/07 Act/360
309 FL 2,050,000 2,047,557 7.780 9/1/07 Act/360
317 PA 2,000,000 1,998,995 7.680 10/1/07 Act/360
319 CA 2,000,000 1,997,260 9.150 7/1/07 Act/360
===================================================================================
====================================================================================================================================
XXXXXX BROTHERS
FU - LB Conduit 1997-C2 *** FINAL BLACK ***
Page 3 of 3
Report: LOANSCHE
Records: 110 MON, DEC 8, 1997 12:44 PM
Balance: 617,051,052.20 Prepared by:XXXXXX
Selection: POOL = Xxxxxx Brothers; Actual/360 S:/XXXXXX/CONDUIT2/BLACK
====================================================================================================================================
------------------------------------------------------------------------------------------------------------------------------------
Prospectus Loan
# # Property Name Address City
------------------------------------------------------------------------------------------------------------------------------------
327 RD63 Auto/Retail (2501 Sample Road) 0000-0000 X. Xxxxxx Xxxx Pompano Beach
329 QZ44 Xxxxx Xxxxxxx Xxxxxxxxxx 0000 Xxxx Xx Xxxxxxx Blvd. Hawthorne
332 RB74 Rancho San Xxxxxx Mobile Home Park 000 Xxx Xxxxxx Xxxxxx San Xxxxxx
350 QZ87 Gardens of Victoria Apartments 000 Xxxxxxxxxxxx Xxxxxx Xxxxxxxx
354 RC00 Southwood Village Shopping Center Northwest Side of Timberlake Road Lynchburg
357 RC44 Xxxxxxx Xxxxxx Xxxxxx Xxxx 0000 Xxxxx Xxxxxxx Xxxx. Dallas
363 RA16 Northridge & Quail Hollow Apartments 000 Xxxxxx Xxxx & 901-907 Liberty Manor Hinesville
367 RC83 McKellips Shopping Center NEC of XxXxxxxxx Xx & Center Street Mesa
368 RB40 Trinity Oaks Shopping Center 000-000 XX Xxxxx Xxxx Xxxxxxxxx Xxxxxxxxx
371 QZ17 Sentinel Square 00-00 Xxxx Xxxxxx Xxxx Xxxxxx
374 RA28 Southwest Oaks Apartments 0000 Xxxxxxx Xx. Odessa
378 RD14 Camden Corners Shopping Xxxxxx XX Xxxxxxx 00 & Xxxxxxx Xxxx Xxxxxxxxx
380 RC18 000 Xxxxx Xxxx 000 Xxxxx Xxxx Xxxxx Xxxxx
000 XX00 Alfa-Laval Separators, Inc. 0000 Xxxxxxx Xxxxxxxxx Xxxxxxxxxx
389 RB14 00000 Xxxxxxxxx Xxxxx 00000 Xxxxxxxxx Xxxxx Xxxxxxxx
395 RA84 Twenty Mile Mini-Storage 00000 Xxxxx Xxx Xxxxxx
396 RC35 0000-0000 Xxxxxxxxxx Xxxx 0000-0000 Xxxxxxxxxx Xx. Xxxxxxxxxx
000 XX00 Xxxxxxxxx Terrace Apartments 900-909, 000-000 Xxxxxxxxx Xxxxxxx Hinesville
407 RD51 Shops at Merchants Walk 0000 Xxxxxxxxx Xxxx Xxxxx Xxxxxxxx
420 RD69 Auto/Retail (2530 W. Commercial) 0000 Xxxx Xxxxxxxxxx Xxxxxxxxx Tamarac
421 RC20 0000 Xxxxx Xxxx 0000 Xxxxx Xxxx Xxxxx Xxxxx
427 RD68 Auto/Retail (1000-1050 Commercial) 0000-0000 Xxxxxxxxxx Xxxxxxxxx Xxxx Xxxxxxxxxx
------------------------------------------------------------------------------------------------------------------------------------
Totals:
====================================================================================================================================
-------------------------------------------------------------------------------------
Cut-off
Prospectus Original Date Mortgage Accrual
# State Balance Balance Rate Maturity Method
-------------------------------------------------------------------------------------
327 FL 1,950,000 1,950,000 8.080 11/1/12 Act/360
329 CA 1,950,000 1,938,977 8.590 7/1/17 Act/360
332 AZ 1,900,000 1,892,273 8.250 9/1/15 Act/360
350 TX 1,640,000 1,637,406 7.995 8/1/04 Act/360
354 VA 1,600,000 1,599,330 8.030 10/1/07 Act/360
357 TX 1,575,000 1,574,401 8.430 10/1/07 Act/360
363 GA 1,520,000 1,517,357 8.490 7/1/07 Act/360
367 AZ 1,500,000 1,498,832 8.260 10/1/04 Act/360
368 TX 1,500,000 1,497,796 8.240 8/1/07 Act/360
371 NY 1,500,000 1,485,209 9.070 7/1/07 Act/360
374 TX 1,450,000 1,448,165 8.710 8/1/07 Act/360
378 GA 1,425,000 1,424,361 8.000 10/1/07 Act/360
380 FL 1,400,000 1,398,924 8.310 10/1/07 Act/360
381 VA 1,400,000 1,398,463 8.090 9/1/07 Act/360
389 TX 1,325,000 1,321,379 7.983 8/1/07 Act/360
395 CO 1,250,000 1,248,118 8.160 8/1/07 Act/360
396 OH 1,235,000 1,234,127 8.640 10/1/07 Act/360
406 GA 1,100,000 1,098,088 8.490 7/1/07 Act/360
407 GA 1,035,000 1,035,000 8.010 11/1/07 Act/360
420 FL 850,000 850,000 8.080 11/1/12 Act/360
421 FL 850,000 849,347 8.310 10/1/07 Act/360
427 FL 700,000 700,000 8.080 11/1/12 Act/360
-------------------------------------------------------------------------------------
Totals:
=====================================================================================
EXHIBIT E
EXCEPTIONS TO CLAUSE XVI OF SCHEDULE I
====================================================================================================================================
XXXXXX BROTHERS
FU - LB Conduit 1997-C2 ** BLACK **
====================================================================================================================================
Records: 1
Balance: 9,061,380.11
Selection: ARM
ARM - Xxxxxx Brothers Pool
------------------------------------------------------------------------------------------------------------------------------------
Prospectus Loan Original Cut-off Date
# # Property Name Address City State Balance Balance
------------------------------------------------------------------------------------------------------------------------------------
55 QM24 Mountain View Apartments 00000 Xxxx Xxxxxx Xxxxx Xx Xxxx XX 10,000,000 9,061,380
------------------------------------------------------------------------------------------------------------------------------------
Totals: 10,000,000 9,061,380
------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
Prospectus Mortgage Accrual
# Rate Maturity Method
---------------------------------------------
55 7.500 8/1/01 30/360
---------------------------------------------
EXHIBIT F
EXCEPTIONS TO CLAUSE XXIV OF SCHEDULE I
None.
EXHIBIT G
EXCEPTIONS TO CLAUSE XXVI OF SCHEDULE I
XXXXXX BROTHERS
FU - LB Conduit 1997-C2 ** BLACK **
Records: 2
Balance: 8,025,740.86
Selection: Subordinated Debt
===================================================================================================================================
Offer
Doc Loan Original Cut-off Date Mortgage Accrual
# # Property Name Address City State Balance Balance Rate Maturity Method
-----------------------------------------------------------------------------------------------------------------------------------
53 QY84 Avalon Manor Note A 00000 Xxxxx Xxxx Xxxxxxxxxx XX 4,700,000 4,683,455 10.500 6/1/07 30/360
188 QZ86 Lakeway Plaza I 0000 Xxxxx Xxxx 000 Xxxxxxx XX 3,350,000 3,342,286 8.800 7/1/04 30/360
-----------------------------------------------------------------------------------------------------------------------------------
Totals: 8,050,000 8,025,741
===================================================================================================================================
EXHIBIT H
EXCEPTIONS TO CLAUSE XXVII TO SCHEDULE I
====================================================================================================================================
XXXXXX BROTHERS
FU - LB Conduit 1997-C2 ** BLACK **
====================================================================================================================================
Records: 9
Balance: 48,238,420.15
Selection: Permit transfer to person who satisfies certain criteria
------------------------------------------------------------------------------------------------------------------------------------
Offer
Doc Loan Original Cut-off Date
# # Property Name Address City State Balance Balance
------------------------------------------------------------------------------------------------------------------------------------
40 RA22 Serramonte Plaza 000-000 Xxxxxxx Xxxxxxxxx Xxxx Xxxx XX 12,000,000 11,954,284
71 XX00 Xxxxxxxx Moors 000 Xxxxxxxx Xxxx Xxxx XX 7,500,000 7,476,817
79 QY56 Buccaneer Trace Apartments 00 X. Xxxxxxxx Xx. Xxxxxxxx XX 7,040,000 7,016,198
108 QT21E Bradford Place Apartments 000 Xxxxxxxx Xxxx Xxxxxxxx XX 5,885,771 5,853,430
180 QT21B Auburn Chase Apartments 000 Xxxxxxxxxx Xxxxx Xxxxxxx Xxxx XX 3,920,000 3,898,460
181 QT21I Foxwood I & II Apartments 00000 Xxxxxxx Xxxxxx Xxxxxx XX 3,920,000 3,898,460
233 QT21G Colony Apartments 000 Xxxxxxxxx Xxxxx Xxxxxx XX 2,960,000 2,943,735
243 QT21R Porterwood Apartments 00000 XX 0000 Xxxxxx XX 2,800,000 2,784,614
269 QT21H Confederate Ridge Apartments 000 Xxxxxxx 00 Xxxxx Xxxxxx Xxxxxxxxx XX 2,425,750 2,412,41
------------------------------------------------------------------------------------------------------------------------------------
Totals: 48,451,521 48,238,420
------------------------------------------------------------------------------------------------------------------------------------
EXHIBIT I
EXCEPTIONS TO CLAUSE XXVII OF SCHEDULE I
XXXXXX BROTHERS
Records: 43 FU - LB Conduit 1997-C2 ** BLACK **
Balance: 228,710,002.02
Selection: One-Time Transfer
====================================================================================================================================
Offer
Doc Loan
# # Property Name Xxxxxxx Xxxx Xxxxx
------------------------------------------------------------------------------------------------------------------------------------
0 XX00 Xxxx Xxxxx 000-000 Xxxxxxxxx Xxxxxx Xxx Xxxx XX
13 RB69 Pinole Vista Crossing IH-80 & Xxxxxxxxxx Drive Pinole CA
23 RB66 Sheraton Orlando North 000 Xxxxx Xxxx Xxxxxxx Xxxxx Xxxxxxxx XX
35 RD48 Trexlertown Shopping Center 0000 Xxxxxxxx Xxxx. Upper and Lower Macungie PA
41 RA12 Palm Court Apartments 0000 Xxxxxxxx Xxxxxx Xxxxxx Xxxx XX
46 RA53 The NorthCorp Center 0000 XXX Xxxx. Xxxx Xxxxx Xxxxxxx XX
97 RB96 Nob Hill Apartments - Madison 0000 Xxxxxxxx Xxxx Xxxxxxx XX
110 RA65 Xxx Xxxxx Xxxxx XX Xxxxx 00 and Route 84 Montague NJ
111 RB12 Chimney Sweep Apartments 000 Xxxxxx Xxx Xxx Xxxx Xxxxx XX
119 RB41 The Xxxxxxx Building 0000 Xxxx 0xx Xxxxxx Xxxxxxxxx XX
125 QY67 The 535 Plaza 00000 Xxxxxxx 000 Xxxxxxx XX
130 QZ49 Best Western Pensacola 00 Xxx Xx Xxxx Xxxxx Xxxxxxxxx XX
136 RA68 Dayton's Bluff Community Care Center 000 Xxxxxxx Xxxxxxx Xx. Xxxx MN
141 RB99 Berwyn House 0000 Xxxxxx Xxxxx Xxxx Xxxxxxx Xxxx XX
147 RB08 Southington Queen Plaza 000-000 Xxxxx Xxxxxx Xxxxxxxxxxx XX
53 QY84 Avalon Manor Note A 00000 Xxxxx Xxxx Xxxxxxxxxx XX
54 QY86 Avalon Manor Note B 00000 Xxxxx Xxxx Xxxxxxxxxx XX
158 RB50 Xxxxx Xxxxx Xxxxxxxxxx 0000 Xxxxxxx Xxxxx Xxxxxxxxx TX
161 QY98 Zinfandel Ranch Apartments 00000 Xxxxxx Xxxxxxxxx Xxxxxx Xxxxxxx XX
170 RB57 National Hills Shopping Center 0000 Xxxxxxxxxx Xx. Xxxxxxx XX
201 RC42 Nassau Eden Club Apartments 2100 Sinton, 000-000 Xxxxxxxxxx, Xxxxxxxxxx XX
208 RB93 Xxxxxxx at Central 0000 Xxxxxxx Xxxxx Xxxxxxx XX
254 QY27 Mission Center 0000 Xxxxxxx Xxxxxx Xxxxxxx XX
256 RC11 Clearlake Shopping Center 0000 Xxxxxxxxx Xxxxxxxxx Xxxxx XX
264 XX00 Xxxxxxx Square Apartments 000 X. 00xx Xx. Xxxxxxxxxxx XX
265 QY45 Shoppes of Xxxxxx City 12125-12397 Sheridan Xx. Xxxxxx Xxxx XX
000 XX00 Xx. Mary's 000 0xx Xx. Xxxxx Xxxxxxx XX
285 QZ96 Summit at Woodhaven Apartments 0000 Xxxxxxx Xxxxx Xxxxx Xxxx Xxxxx XX
288 RB15 Towers Garden Apartments 0000 Xxxxxxxxx Xxxxxxx Xxxxxxx XX
297 RB10 French Quarter Apartments 0000 Xxxxxx Xxxx Xxxx Xxxxx XX
300 RA82 Sherwood Arms Apartments 0000 Xxxxx Xxxxx Xxxxxxxx XX
302 XX00 Xxxxxx Club Apartments 0000 Xxxxx Xxxxxx Xx. Xxxxxxx XX
305 RB34 Mission Station 0000 Xxxxxxx Xx. Xxx Xxxxxxx XX
306 RB36 El Xxxxxxx Apartments 00000 Xx Xxxxxxx Xxxxx Xxxxxx Xxxxxxx XX
321 QZ12 Commerce Center 0000 X. Xxxxxxx Xxxx. Ft. Lauderdale FL
329 QZ44 Villa Gardens Apartments 0000 Xxxx Xx Xxxxxxx Xxxx. Xxxxxxxxx XX
335 RA72 Willow Park Apartments 0000 Xxxx Xxx Xxxx Xxxxxx Xxxx XX
338 RB19 French Embassy Apartments 0000 Xxxxx Xxxxxxxxx Xxxxxx XX
344 RB01 Englewood Apartments 0000 X.X. Xxxxxxxx Xxxxx Xxxxxx Xxxx XX
345 QZ93 The Xxxxxxx 0000 Xxxxxx Xxxx Xxxx XX
000 XX00 Xxxxxxx Xxxxxx Xxxxxx Xxxx 0000 Xxxxx Xxxxxxx Xxxx. Xxxxxx XX
368 RB40 Trinity Oaks Shopping Center 000-000 XX Xxxxx Xxxx Xxxxxxxxx Xxxxxxxxx XX
413 QY60 Fountain Court Plaza 0000 Xxxxx Xxx Xxxxxxxxxxx XX
------------------------------------------------------------------------------------------------------------------------------------
Totals
====================================================================================================================================
=======================================================================================
Offer Cut-off
Doc Loan Original Date Mortgage Accrual
# # Balance Balance Rate Maturity Method
---------------------------------------------------------------------------------------
4 RB05 33,500,000 33,449,419 7.430 9/1/12 30/360
13 RB69 23,000,000 22,988,718 7.750 10/1/12 Act/360
23 RB66 18,000,000 17,970,413 8.690 9/1/04 Act/360
35 RD48 13,100,000 13,093,282 7.620 10/1/07 Act/360
41 RA12 11,790,000 11,773,564 8.410 8/1/07 Act/360
46 RA53 10,000,000 9,985,351 8.250 8/1/07 Act/360
97 RB96 6,350,000 6,342,551 7.840 9/1/12 Act/360
110 RA65 5,800,000 5,788,599 8.150 8/1/07 30/360
111 RB12 5,750,000 5,739,700 7.560 8/1/07 Act/360
119 RB41 5,400,000 5,391,697 8.090 8/1/04 Act/360
125 QY67 5,125,000 5,108,096 9.060 5/1/04 30/360
130 QZ49 5,000,000 4,978,679 9.240 7/1/20 30/360
136 RA68 4,800,000 4,789,403 8.970 8/1/07 Act/360
141 RB99 4,750,000 4,743,859 8.200 9/1/04 30/360
147 RB08 4,700,000 4,692,155 7.810 8/1/07 Act/360
53 QY84 4,700,000 4,683,455 10.500 6/1/07 30/360
54 QY86 4,580,000 4,553,995 7.603 6/1/07 30/360
158 RB50 4,475,000 4,465,732 7.520 9/1/04 Act/360
161 QY98 4,450,000 4,438,772 8.270 6/1/07 Act/360
170 RB57 4,100,000 4,095,982 8.500 9/1/07 Act/360
201 RC42 3,550,000 3,548,384 7.960 10/1/12 Act/360
208 RB93 3,400,000 3,396,659 8.490 9/1/07 Act/360
254 QY27 2,700,000 2,691,259 9.150 5/1/07 30/360
256 RC11 2,600,000 2,600,000 7.990 11/1/07 Act/360
264 RA30 2,500,000 2,491,906 8.450 7/1/22 Act/360
265 QY45 2,500,000 2,491,161 8.722 5/1/04 30/360
277 RA69 2,325,000 2,319,749 8.870 8/1/07 Act/360
285 QZ96 2,260,000 2,254,104 8.190 7/1/07 30/360
288 RB15 2,250,000 2,245,357 7.910 8/1/07 30/360
297 RB10 2,169,000 2,165,115 7.560 8/1/07 Act/360
300 RA82 2,160,000 2,155,702 8.090 8/1/07 30/360
302 QY97 2,125,000 2,118,577 8.580 6/1/07 30/360
305 RB34 2,100,000 2,097,344 7.550 9/1/07 Act/360
306 RB36 2,100,000 2,097,344 7.550 9/1/07 Act/360
321 QZ12 2,000,000 1,994,444 8.990 6/1/04 30/360
329 QZ44 1,950,000 1,938,977 8.590 7/1/17 Act/360
335 RA72 1,830,000 1,826,425 8.180 8/1/07 30/360
338 RB19 1,800,000 1,796,233 7.840 8/1/04 30/360
344 RB01 1,700,000 1,696,548 7.990 8/1/04 30/360
345 QZ93 1,700,000 1,693,198 8.370 7/1/04 30/360
357 RC44 1,575,000 1,574,401 8.430 10/1/07 Act/360
368 RB40 1,500,000 1,497,796 8.240 8/1/07 Act/360
413 QY60 950,000 945,897 9.190 5/1/07 30/360
--------------------------------------------------------------------------------------
Totals 229,114,000 228,710,002
======================================================================================
EXHIBIT J
EXCEPTIONS TO CLAUSE XVII OF SCHEDULE I
====================================================================================================================================
XXXXXX BROTHERS
FU - LB Conduit 1997-C2 ** BLACK **
Records: 1
Balance: 2,596,569.58
Selection: Two-Time Transfer
====================================================================================================================================
Two-time transfers - Xxxxxx Brothers Pool
------------------------------------------------------------------------------------------------------------------------------------
Prospectus Loan Original Cut-off Date
# # Property Name Address City State Balance Balance
------------------------------------------------------------------------------------------------------------------------------------
258 RB98 Wheaton Square Apartments 00000 Xxxxxxxx Xxxxx Xxxxxxx XX 2,600,000 2,596,570
------------------------------------------------------------------------------------------------------------------------------------
Totals: 2,600,000 2,596,570
------------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------
Prospectus Mortgage Accrual
# Rate Maturity Method
--------------------------------------------------
258 8.100 9/1/04 30/360
--------------------------------------------------
Totals: 8.100 9/1/04 30/360
--------------------------------------------------
EXHIBIT K
EXCEPTIONS TO CLAUSE XXXI OF SCHEDULE I
None.
EXHIBIT L
EXCEPTIONS TO CLAUSE XXXV(A) OF SCHEDULE I
None.
EXHIBIT M
EXCEPTIONS TO CLAUSE XXXV(B) OF SCHEDULE I
Pinole Vista Crossing
EXHIBIT N
EXCEPTIONS TO CLAUSE XXXV(J) OF SCHEDULE I
Zinfandel Ranch Apartments
000 Xxxxxx xx Xxxxxxxx
EXHIBIT O
EXCEPTIONS TO CLAUSE XXXV(L) OF SCHEDULE I
Best Western Pensacola
Zinfandel Ranch Apartments
EXHIBIT P
EXCEPTIONS TO CLAUSE XLIII OF SCHEDULE I
===================================================================================================================================
XXXXXX BROTHERS Page 1 of 1
FU - LB Conduit 1997-C2 ** BLACK ** Report: LOANSCHE
FRI, NOV 21, 1997 1:33 PM
Prepared by: XXXXXX
No Engineering Within Last 18 months S:\XXXXXX\CONDUIT2\BLACK
===================================================================================================================================
-----------------------------------------------------------------------------------------------------------------------------------
Offer Cut-off
Doc Loan Original Date Mortgage
# # Property Name Address City State Balance Balance Rate
-----------------------------------------------------------------------------------------------------------------------------------
55 QM24 Mountain View Apartments 00000 Xxxx Xxxxxx Xxxxx Xx Xxxx XX 10,000,000 9,061,380 7.5000
-----------------------------------------------------------------------------------------------------------------------------------
Totals: 10,000,000 9,061,380
-----------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------
Offer
Doc Loan Accrual
# # Maturity Method
--------------------------------------------
55 QM24 2001-08-01 30/360
--------------------------------------------
EXHIBIT Q
EXCEPTIONS TO CLAUSE XLVII(A) OF SCHEDULE I
===================================================================================================================================
XXXXXX BROTHERS Page 1 of 1
FU - LB Conduit 1997-C2 *** FINAL BLACK *** Report: LOANSCHE
MON, NOV 24, 1997 4:39 PM
Prepared by: XXXXXX
S:\XXXXXX\CONDUIT2\BLACK
===================================================================================================================================
-----------------------------------------------------------------------------------------------------------------------------------
Rite-Aid Loans - Xxxxxx Brothers Pool
Prospectus Loan
# # Property Name Address City State
-----------------------------------------------------------------------------------------------------------------------------------
310 RA67 A Rite-Aid Pharmacy - Manhattan Blvd. 810 Manhattan Blvd. Toldeo OH
314 RA62 A Rite-Aid Pharmacy - Sylvania Ave. 0000 Xxxxxxxx Xxx. Xxxxxx XX
325 RA61 A Rite-Aid Pharmacy - Main Street 000 Xxxx Xxxxxx Xxxxxx XX
Cut-off
Original Date Mortgage Accrual
# Balance Balance Rate Maturity Method
------------------------------------------------------------------------------------------------------------------------------------
310 2,044,000 2,039,470 7.790 2017/07/17 30/360
314 2,008,000 2,003,550 7.790 2017/07/17 30/360
325 1,956,000 1,953,856 7.790 2017/09/17 30/360
EXHIBIT R
EXCEPTIONS TO CLAUSE XLVII(B) OF SCHEDULE I
====================================================================================================================================
XXXXXX BROTHERS
FU - LB Conduit 1997-C2 *** FINAL BLACK ***
====================================================================================================================================
Rite-Aid Loans - Xxxxxx Brothers Pool
------------------------------------------------------------------------------------------------------------------------------------
Prospectus Loan Original Cut-off Date
# # Property Name Address City State Balance Balance
------------------------------------------------------------------------------------------------------------------------------------
310 RA67 A Rite-Aid Pharmacy - Manhattan Blvd. 000 Xxxxxxxxx Xxxx. Xxxxxx XX 2,044,000 2,039,470
314 RA62 A Rite-Aid Pharmacy - Sylvania Ave. 0000 Xxxxxxxx Xxx. Xxxxxx XX 2,008,000 2,003,550
000 XX00 X Xxxx-Xxx Xxxxxxxx - Xxxx Xxxxxx 000 Xxxx Xxxxxx Xxxxxx XX 1,956,000 1,953,856
------------------------------------------------------------------------------------------------------------------------------------
6,008,000 5,996,876
------------------------------------------------------------------------------------------------------------------------------------
---------------------------------------------------
Prospectus Mortgage Accrual
# Rate Maturity Method
---------------------------------------------------
310 7.790 2017-07-01 30/360
314 7.790 2017-07-01 30/360
325 7.790 2017-09-01 30/360
---------------------------------------------------
EXHIBIT S
EXCEPTIONS TO CLAUSE XLVII(C) OF SCHEDULE I
====================================================================================================================================
XXXXXX BROTHERS
FU - LB Conduit 1997-C2 ** FINAL BLACK **
====================================================================================================================================
------------------------------------------------------------------------------------------------------------------------------------
Original Cut-off Date
Property Name Address City State Balance Balance
-----------------------------------------------------------------------------------------------------------------------------------
Rite Aid Pharmacy - Manhattan Blvd. 000 Xxxxxxxxx Xxxx. Xxxxxx XX 2,044,000 2,039,470
Rite Aid Pharmacy - Sylvania Ave. 0000 Xxxxxxxx Xxx. Xxxxxx XX 2,008,000 2,003,550
Rite Aid Pharmacy - Main Street 000 Xxxx Xxxxxx Xxxxxx XX 1,956,000 1,953,856
-----------------------------------------------------------------------------------------------------------------------------------
6,008,000 5,996,876
-----------------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------
Mortgage Accrual
Property Name Rate Maturity Method
----------------------------------------------------------------------------------
Rite Aid Pharmacy - Manhattan Blvd. 7.7900 2017-07-01 30/360
Rite Aid Pharmacy - Sylvania Ave. 7.7900 2017-07-01 30/360
Rite Aid Pharmacy - Main Street 7.7900 2017-07-01 30/360
----------------------------------------------------------------------------------
----------------------------------------------------------------------------------
==================================================================================
EXHIBIT T
EXCEPTIONS TO CLAUSE XLVII(D) OF SCHEDULE I
====================================================================================================================================
XXXXXX BROTHERS
FU - LB Conduit 1997-C2 *** FINAL BLACK ***
====================================================================================================================================
------------------------------------------------------------------------------------------------------------------------------------
Offer
Doc Loan Original Cut-off Date
# # Property Name Address City State Balance Balance
------------------------------------------------------------------------------------------------------------------------------------
310 RA67 A Rite-Aid Pharmacy - Manhattan Blvd. 000 Xxxxxxxxx Xxxx. Xxxxxx XX 2,044,000 2,039,470
314 RA62 A Rite-Aid Pharmacy - Sylvania Ave. 0000 Xxxxxxxx Xxx. Xxxxxx XX 2,008,000 2,003,550
000 XX00 X Xxxx-Xxx Xxxxxxxx - Xxxx Xxxxxx 000 Xxxx Xxxxxx Xxxxxx XX 1,956,000 1,953,856
------------------------------------------------------------------------------------------------------------------------------------
Totals: 6,008,000 5,996,876
------------------------------------------------------------------------------------------------------------------------------------
---------------------------------------------------
Offer
Doc Mortgage Accrual
# Rate Maturity Method
---------------------------------------------------
310 7.7900 2017-07-01 30/360
314 7.7900 2017-07-01 30/360
325 7.7900 2017-09-01 30/360
---------------------------------------------------
EXHIBIT U
EXCEPTIONS TO CLAUSE XLVII(U) OF SCHEDULE I
====================================================================================================================================
XXXXXX BROTHERS
FU - LB Conduit 1997-C2 *** FINAL BLACK ***
====================================================================================================================================
------------------------------------------------------------------------------------------------------------------------------------
Offer
Doc Loan Original Cut-off Date
# # Property Name Address City State Balance Balance
------------------------------------------------------------------------------------------------------------------------------------
310 RA67 A Rite-Aid Pharmacy - Manhattan Blvd. 000 Xxxxxxxxx Xxxx. Xxxxxx XX 2,044,000 2,039,470
314 RA62 A Rite-Aid Pharmacy - Sylvania Ave. 0000 Xxxxxxxx Xxx. Xxxxxx XX 2,008,000 2,003,550
000 XX00 X Xxxx-Xxx Xxxxxxxx - Xxxx Xxxxxx 000 Xxxx Xxxxxx Xxxxxx XX 1,956,000 1,953,856
------------------------------------------------------------------------------------------------------------------------------------
Totals: 6,008,000 5,996,876
------------------------------------------------------------------------------------------------------------------------------------
---------------------------------------------------
Offer
Doc Mortgage Accrual
# Rate Maturity Method
---------------------------------------------------
310 7.7900 2017-07-01 30/360
314 7.7900 2017-07-01 30/360
325 7.7900 2017-07-01 30/360
---------------------------------------------------
EXHIBIT V
EXCEPTIONS TO CLAUSE XLVII(G) OF SCHEDULE I
====================================================================================================================================
XXXXXX BROTHERS
FU - LB Conduit 1997-C2 *** FINAL BLACK ***
====================================================================================================================================
------------------------------------------------------------------------------------------------------------------------------------
Offer
Doc Loan Original Cut-off Date
# # Property Name Address City State Balance Balance
------------------------------------------------------------------------------------------------------------------------------------
310 RA67 A Rite-Aid Pharmacy - Manhattan Blvd. 000 Xxxxxxxxx Xxxx. Xxxxxx XX 2,044,000 2,039,470
314 RA62 A Rite-Aid Pharmacy - Sylvania Ave. 0000 Xxxxxxxx Xxx. Xxxxxx XX 2,008,000 2,003,550
000 XX00 X Xxxx-Xxx Xxxxxxxx - Xxxx Xxxxxx 000 Xxxx Xxxxxx Xxxxxx XX 1,956,000 1,953,856
------------------------------------------------------------------------------------------------------------------------------------
Totals: 6,008,000 5,996,876
------------------------------------------------------------------------------------------------------------------------------------
---------------------------------------------------
Offer
Doc Mortgage Accrual
# Rate Maturity Method
---------------------------------------------------
310 7.7900 2017-07-01 30/360
314 7.7900 2017-07-01 30/360
325 7.7900 2017-07-01 30/360
---------------------------------------------------
EXHIBIT W
EXCEPTIONS TO CLAUSE XLVII(H) OF SCHEDULE I
EXHIBIT X
EXCEPTIONS TO CLAUSE XLVII(I) OF SCHEDULE I
====================================================================================================================================
XXXXXX BROTHERS
FU - LB Conduit 1997-C2 *** FINAL BLACK ***
====================================================================================================================================
------------------------------------------------------------------------------------------------------------------------------------
Offer
Doc Loan Original Cut-off Date
# # Property Name Address City State Balance Balance
------------------------------------------------------------------------------------------------------------------------------------
310 RA67 A Rite-Aid Pharmacy - Manhattan Blvd. 000 Xxxxxxxxx Xxxx. Xxxxxx XX 2,044,000 2,039,470
314 RA62 A Rite-Aid Pharmacy - Sylvania Ave. 0000 Xxxxxxxx Xxx. Xxxxxx XX 2,008,000 2,003,550
000 XX00 X Xxxx-Xxx Xxxxxxxx - Xxxx Xxxxxx 000 Xxxx Xxxxxx Xxxxxx XX 1,956,000 1,953,856
------------------------------------------------------------------------------------------------------------------------------------
Totals: 6,008,000 5,996,876
------------------------------------------------------------------------------------------------------------------------------------
---------------------------------------------------
Offer
Doc Mortgage Accrual
# Rate Maturity Method
---------------------------------------------------
310 7.7900 2017-07-01 30/360
314 7.7900 2017-07-01 30/360
325 7.7900 2017-07-01 30/360
---------------------------------------------------
EXHIBIT Y
EXCEPTIONS TO CLAUSE XLVII(J) OF SCHEDULE I
====================================================================================================================================
XXXXXX BROTHERS
FU - LB Conduit 1997-C2 *** FINAL BLACK ***
====================================================================================================================================
------------------------------------------------------------------------------------------------------------------------------------
Offer
Doc Loan Original Cut-off Date
# # Property Name Address City State Balance Balance
------------------------------------------------------------------------------------------------------------------------------------
310 RA67 A Rite-Aid Pharmacy - Manhattan Blvd. 000 Xxxxxxxxx Xxxx. Xxxxxx XX 2,044,000 2,039,470
314 RA62 A Rite-Aid Pharmacy - Sylvania Ave. 0000 Xxxxxxxx Xxx. Xxxxxx XX 2,008,000 2,003,550
000 XX00 X Xxxx-Xxx Xxxxxxxx - Xxxx Xxxxxx 000 Xxxx Xxxxxx Xxxxxx XX 1,956,000 1,953,856
------------------------------------------------------------------------------------------------------------------------------------
Totals: 6,008,000 5,996,876
------------------------------------------------------------------------------------------------------------------------------------
---------------------------------------------------
Offer
Doc Mortgage Accrual
# Rate Maturity Method
---------------------------------------------------
310 7.7900 2017-07-01 30/360
314 7.7900 2017-07-01 30/360
325 7.7900 2017-07-01 30/360
---------------------------------------------------
EXHIBIT Z
LIST OF LEASE GUARANTORS
EXHIBIT Z
List of Lease Guarantors
Rite Aid Corporation
Office Depot
Circuit City
Hartford Fire
Kmart
Eckerd
Eckerd
Walgreen
Xxxxxxxxx'x, Inc.
Xxxxxx & Xxxxx, Inc.
Pep Boys
Thrifty-Payless
