FWP 1 n882_anxa1-x6.htm FREE WRITING PROSPECTUS

    FREE WRITING PROSPECTUS
    FILED PURSUANT TO RULE 433
    REGISTRATION FILE NO.: 333-206361-08

 

     
  Free Writing Prospectus dated February 28, 2017  
     
  The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates.  Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC for more complete information about the depositor, the issuing entity and this offering.  You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov.  Alternatively, the depositor, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling (866) 669-7629 or by emailing the ABS Syndicate Desk at abs_synd@jpmorgan.com.    
     
  The information in this file (the “File”) is an electronic copy of the information set forth in the Appendix titled “Certain Characteristics of the Mortgage Loans and Mortgaged Properties” to the prospectus.  This File does not contain all information that is required to be included in the prospectus.  This File should be reviewed only in conjunction with the entire prospectus.  Prospective investors are advised to read carefully, and should rely on, the prospectus relating to the certificates referred to herein in making their investment decision.    
     
  The information in this File may be amended and/or supplemented prior to the time of sale.  The information in this File supersedes any contrary information contained in any prior File relating to the certificates and will be superseded by any contrary information contained in any subsequent File prior to the time of sale.    
     
  Methodologies used in deriving certain information contained in this File are more fully described elsewhere in the prospectus.  The information in this File should not be viewed as projections, forecasts, predictions or opinions with respect to value.  
     
  Any legends, disclaimers or other notices that may appear at the bottom of, or attached to, the email communication to which this material may have been attached are not applicable to these materials and should be disregarded.  Such legends, disclaimers or other notices have been automatically generated as a result of these materials having been sent via Bloomberg or another email system.  
     

 

 

 

  

ANNEX A-1

 

                Number of Property   Property   Year    Unit of   
Loan # Seller(1) Property Name Street Address City State Zip Code County Properties Type Subtype Year Built Renovated Units(2)  Measure
1 JPMCB Hilton Hawaiian Village 2005 Kalia Road Honolulu HI 96815 Honolulu 1 Hotel Full Service 1961 2016 2,860 Rooms
2 JPMCB Moffett Gateway 1225-1265 Crossman Avenue Sunnyvale CA 94089 Santa Clara 1 Office Suburban 2016   612,691 Square Feet
3 JPMCB Dallas Design District Various Dallas TX 75207 Dallas 1 Industrial Flex Various Various 728,452 Square Feet
4 JPMCB Fresno Fashion Fair Mall 645 East Shaw Avenue Fresno CA 93710 Fresno 1 Retail Super Regional Mall 1970 2003 536,106 Square Feet
5 JPMCB Riverway 6133 North River Road, 9377 West Higgins Road, 9399 West Higgins Road and 6107 North River Road Rosemont IL 60018 Cook 1 Office Suburban 1988, 1994 2016 869,120 Square Feet
6 JPMCB 55 Hawthorne 55 Hawthorne Street San Francisco CA 94105 San Francisco 1 Office CBD 1970 2016 136,432 Square Feet
7 JPMCB Bardmoor Palms 8285 & 8333 Bryan Dairy Road Largo FL 33777 Pinellas 1 Mixed Use Office/Industrial 1973 2016 553,485 Square Feet
8 JPMCB Landmark Square 1-7 Landmark Square Stamford CT 06901 Fairfield 1 Mixed Use Office/Retail 1974, 1976, 1977, 1981, 1983, 2006   757,917 Square Feet
9 JPMCB Centre Market Building 1100 Raymond Boulevard Newark NJ 07102 Essex 1 Office CBD 1922, 1967 2016 388,122 Square Feet
10 JPMCB Courtyard Marriott - King Kamehameha 75-5660 Palani Road Kailua-Kona HI 96740 Hawaii 1 Hotel Full Service 1975 2011 452 Rooms
11 JPMCB Milton Park 30000 Mill Creek Avenue & 11175 Cicero Drive Alpharetta GA 30022 Fulton 1 Office Suburban 2001, 2007   318,945 Square Feet
12 JPMCB Reston EastPointe 11091 Sunset Hills Road Reston VA 20190 Fairfax 1 Office Suburban 2007   195,230 Square Feet
13 JPMCB Orchard Hill Park 10-82 Orchard Hill Park Drive Leominster MA 01453 Worcester 1 Retail Anchored 2006   190,788 Square Feet
14 JPMCB 11200 Rockville Pike 11200 Rockville Pike Rockville MD 20852 Montgomery 1 Office Suburban 1986   185,219 Square Feet
15 JPMCB Marriott Galleria 1750 West Loop South Houston TX 77027 Harris 1 Hotel Full Service 1976 2016 301 Rooms
16 JPMCB Royal Oaks Plaza 15400, 15406, 15410-15432, 15434-15512 & 15516-15544 Northwest 77th Court Miami Lakes FL 33016 Miami-Dade 1 Retail Anchored 1987   165,710 Square Feet
17 JPMCB Las Palmas 803 Castroville Road San Antonio TX 78237 Bexar 1 Retail Anchored 1956 2000 256,213 Square Feet
18 SMF VI Liberty Center 50-100 West Big Beaver Road Troy MI 48084 Oakland 1 Office Suburban 1988   279,519 Square Feet
19 SMF VI Ocotillo Plaza 2405-2505 East Tropicana Avenue Las Vegas NV 89121 Clark 1 Retail Anchored 1976, 1977, 1987, 1988   114,301 Square Feet
20 JPMCB Gwinnett Commerce Center 3700 Crestwood Parkway Northwest Duluth GA 30096 Gwinnett 1 Office Suburban 1989   213,644 Square Feet
21 SMF VI Hilton Durham 3800 and 3806 Hillsborough Road Durham NC 27705 Durham 1 Hotel Full Service 1987 2013 195 Rooms
22 JPMCB Woodglen Village 11111 West Montgomery Road Houston TX 77088 Harris 1 Multifamily Garden 2000 2015 249 Units
23 JPMCB Partridge Inn Augusta 2110 Walton Way Augusta GA 30904 Richmond 1 Hotel Full Service 1836 2015 143 Rooms
24 JPMCB 4400 Dixie Highway 4400 Dixie Highway Fairfield OH 45014 Butler 1 Industrial Warehouse 1946 2005 1,071,600 Square Feet
25 JPMCB TownePlace Suites Dallas Las Colinas 900 West Walnut Hill Lane Irving TX 75038 Dallas 1 Hotel Extended Stay 1998 2014 135 Rooms
26 SMF VI 100 North Citrus 100 North Citrus Street West Covina CA 91791 Los Angeles 1 Office Suburban 1975 2014 79,001 Square Feet
27 SMF VI Pangea 15 Various Various IL Various Cook 16 Multifamily Garden Various 2016 204 Units
27.01 SMF VI 701 South Karlov Avenue 701 South Karlov Avenue Chicago IL 60624 Cook 1 Multifamily Garden 1921 2016 26 Units
27.02 SMF VI 1236 South Lawndale Avenue 1236 South Lawndale Avenue Chicago IL 60623 Cook 1 Multifamily Garden 1929 2016 16 Units
27.03 SMF VI 6125-6129 South Wabash Avenue 6125-6129 South Wabash Avenue Chicago IL 60637 Cook 1 Multifamily Garden 1955 2016 18 Units
27.04 SMF VI 11932 South Stewart Avenue 11932 South Stewart Avenue Chicago IL 60628 Cook 1 Multifamily Garden 1930 2016 20 Units
27.05 SMF VI 7954 South Justine Street 7954 South Justine Street Chicago IL 60620 Cook 1 Multifamily Garden 1925 2016 15 Units
27.06 SMF VI 10 West 137th Street 10 West 137th Street Riverdale IL 60827 Cook 1 Multifamily Garden 1957 2016 14 Units
27.07 SMF VI 6715 South Dorchester Avenue 6715 South Dorchester Avenue Chicago IL 60637 Cook 1 Multifamily Garden 1927 2016 12 Units
27.08 SMF VI 10201 South Saint Lawrence Avenue 10201 South Saint Lawrence Avenue Chicago IL 60628 Cook 1 Multifamily Garden 1927 2016 15 Units
27.09 SMF VI 5800-04 South Artesian Avenue 5800-04 South Artesian Avenue Chicago IL 60629 Cook 1 Multifamily Garden 1927 2016 10 Units
27.10 SMF VI 8201 South Drexel Avenue 8201 South Drexel Avenue Chicago IL 60619 Cook 1 Multifamily Garden 1925 2016 10 Units
27.11 SMF VI 7229 South Yates Boulevard 7229 South Yates Boulevard Chicago IL 60649 Cook 1 Multifamily Garden 1930 2016 12 Units
27.12 SMF VI 7653 South Loomis Boulevard 7653 South Loomis Boulevard Chicago IL 60620 Cook 1 Multifamily Garden 1926 2016 9 Units
27.13 SMF VI 7700 South Carpenter Street 7700 South Carpenter Street Chicago IL 60620 Cook 1 Multifamily Garden 1928 2016 9 Units
27.14 SMF VI 2062 135th Place 2062 135th Place Blue Island IL 60406 Cook 1 Multifamily Garden 1952 2016 6 Units
27.15 SMF VI 2066 135th Place 2066 135th Place Blue Island IL 60406 Cook 1 Multifamily Garden 1952 2016 6 Units
27.16 SMF VI 9600 South Avenue L 9600 South Avenue L Chicago IL 60617 Cook 1 Multifamily Garden 1940 2016 6 Units
28 SMF VI The Shoppes at Letson Farms 4750 Eastern Valley Road McCalla AL 35111 Jefferson 1 Retail Anchored 2004   95,092 Square Feet
29 SMF VI Montgomery Triangle Gateway 9366-9386 Montgomery Road Cincinnati OH 45242 Hamilton 1 Mixed Use Office/Retail 2006-2007   39,563 Square Feet
30 SMF VI Neilson Square 3322-3518 West Owen K. Garriott Road Enid OK 73703 Garfield 1 Retail Shadow Anchored 2000   65,837 Square Feet
31 SMF VI Studio City Apartments 2255-2319 Winter Parkway & 290 Munroe Falls Avenue Cuyahoga Falls OH 44221 Summit 1 Multifamily Mid-Rise 1968   375 Units
32 SMF VI St. Albans & Camino Commons Various Newtown Square PA 19073 Delaware 2 Various Various Various Various 53,206 Square Feet
32.01 SMF VI Camino Commons 5038-5050 West Chester Pike Newtown Square PA 19073 Delaware 1 Retail Unanchored 1971   32,485 Square Feet
32.02 SMF VI St. Albans Circle 2-8 St. Albans Avenue, 12 St. Albans Circle and 3610-3612 Chapel Road Newtown Square PA 19073 Delaware 1 Mixed Use Office/Retail 1948 2016 20,721 Square Feet
33 SMF VI Lake Geneva Commons 200 Edwards Boulevard Lake Geneva WI 53147 Walworth 1 Retail Anchored 1989 2006 51,369 Square Feet
34 SMF VI Hampton Inn & Suites Huntsville 120 Ravenwood Village Drive Huntsville TX 77340 Walker 1 Hotel Limited Service 2015   75 Rooms
35 SMF VI Holiday Inn Express Orangeburg 118 Sleep Inn Drive Orangeburg SC 29118 Orangeburg 1 Hotel Limited Service 2001 2013 78 Rooms
36 SMF VI 3200 North Hayden 3200 North Hayden Road Scottsdale AZ 85251 Maricopa 1 Office Suburban 1981 2016 65,731 Square Feet
37 SMF VI Bellfort Village Apartments 6405 West Bellfort Street Houston TX 77035 Harris 1 Multifamily Garden 1976 2016 194 Units
38 SMF VI Courtyard Business Center 10190-10288 Northwest 47th Street Sunrise FL 33351 Broward 1 Industrial Flex 1989   65,373 Square Feet
39 SMF VI Northgate Business Park III 11805-11819 & 11845-11895 Forestgate Drive and 11969, 11999 & 12021 Plano Road Dallas TX 75243 Dallas 1 Industrial Flex 1983-1984   155,494 Square Feet
40 SMF VI Aldine Plaza 12850 and 12900 Aldine Westfield Road Houston TX 77039 Harris 1 Retail Unanchored 1992, 2016 2013 28,848 Square Feet
41 SMF VI Walgreens Cooper City 11105 Stirling Road Cooper City FL 33328 Broward 1 Retail Freestanding 2001   15,120 Square Feet
42 SMF VI North Star Terrace MHP 101 East Jupiter Drive East Grand Forks MN 56721 Polk 1 Manufactured Housing Manufactured Housing 1968   177 Pads
43 SMF VI Rite Aid Sugar Hill 4470 Nelson Brogdon Boulevard Sugar Hill GA 30518 Gwinnett 1 Retail Freestanding 2004   13,824 Square Feet

 

A-1-1 

 

 

ANNEX A-1

 

                  Original   Current           Net      
        Occupancy Appraised Appraisal Current Original Balance Current   Balance % of Initial Crossed Related   Interest   Admin. Mortgage   Monthly Debt Annual Debt
Loan # Seller(1) Property Name Occupancy %(3) Date Value ($)(4) Date LTV %(4) Balance ($)(5)(6) per Unit ($) Balance ($)(5)(6) per Unit ($) Pool Balance Loan Borrower(7) Rate %(8) Fee %(8) Rate %(8) Accrual Type Service ($)(9)(10) Service ($)(10)
1 JPMCB Hilton Hawaiian Village 94.6% 09/30/16 2,230,000,000 08/30/16 31.2% 80,000,000 243,566 80,000,000 243,566 7.3% No No 4.19950 0.01015 4.18935 Actual/360 283,855.09 3,406,261.11
2 JPMCB Moffett Gateway 100.0% 03/01/17 525,000,000 07/20/16 46.3% 80,000,000 397 80,000,000 397 7.3% No No 3.31940 0.01140 3.30800 Actual/360 388,810.63 4,665,727.58
3 JPMCB Dallas Design District 98.7% 12/28/16 193,085,000 Various 62.1% 75,000,000 165 75,000,000 165 6.9% No No 5.25700 0.01501 5.24199 Actual/360 414,478.01 4,973,736.12
4 JPMCB Fresno Fashion Fair Mall 89.3% 01/31/17 565,000,000 08/24/16 57.5% 69,000,000 606 69,000,000 606 6.3% No No 3.58700 0.01140 3.57560 Actual/360 209,117.12 2,509,405.42
5 JPMCB Riverway 95.0% 09/30/16 176,200,000 09/07/16 72.4% 65,000,000 147 64,763,123 147 5.9% No Yes - Group 1 4.96000 0.01140 4.94860 Actual/360 347,346.78 4,168,161.36
6 JPMCB 55 Hawthorne 100.0% 03/01/17 123,000,000 12/09/16 50.0% 61,500,000 451 61,500,000 451 5.6% No No 4.12300 0.01501 4.10799 Actual/360 214,238.52 2,570,862.29
7 JPMCB Bardmoor Palms 100.0% 12/01/16 75,000,000 12/01/16 73.8% 55,500,000 100 55,352,648 100 5.1% No No 4.74400 0.01501 4.72899 Actual/360 289,313.59 3,471,763.08
8 JPMCB Landmark Square 84.9% 12/31/16 175,700,000 11/09/16 56.9% 51,000,000 132 51,000,000 132 4.7% No No 4.97000 0.01501 4.95499 Actual/360 214,158.68 2,569,904.17
9 JPMCB Centre Market Building 88.1% 10/17/16 89,000,000 10/25/16 47.0% 42,000,000 108 41,842,074 108 3.8% No No 4.47500 0.07751 4.39749 Actual/360 232,854.06 2,794,248.72
10 JPMCB Courtyard Marriott - King Kamehameha 85.1% 11/30/16 133,000,000 10/03/16 30.0% 40,000,000 88,496 39,945,058 88,374 3.7% No No 4.81000 0.01501 4.79499 Actual/360 202,449.33 2,429,392.02
11 JPMCB Milton Park 87.8% 12/12/16 57,300,000 12/08/16 69.6% 39,900,000 125 39,900,000 125 3.7% No Yes - Group 1 4.94000 0.01501 4.92499 Actual/360 212,731.11 2,552,773.32
12 JPMCB Reston EastPointe 85.6% 08/31/16 61,200,000 10/05/16 62.1% 38,000,000 195 38,000,000 195 3.5% No No 4.20000 0.01501 4.18499 Actual/360 134,847.22 1,618,166.67
13 JPMCB Orchard Hill Park 98.1% 11/01/16 47,100,000 09/07/16 71.0% 33,500,000 176 33,424,589 175 3.1% No No 5.75200 0.03501 5.71699 Actual/360 195,539.47 2,346,473.64
14 JPMCB 11200 Rockville Pike 79.0% 11/23/16 45,100,000 12/06/16 73.7% 33,250,000 180 33,250,000 180 3.0% No No 4.77500 0.03501 4.73999 Actual/360 173,949.13 2,087,389.56
15 JPMCB Marriott Galleria 68.3% 10/31/16 51,000,000 11/01/16 62.6% 32,000,000 106,312 31,921,895 106,053 2.9% No No 5.25800 0.01501 5.24299 Actual/360 176,863.78 2,122,365.36
16 JPMCB Royal Oaks Plaza 86.4% 12/27/16 50,000,000 01/02/17 59.9% 30,000,000 181 29,953,572 181 2.7% No No 4.60600 0.03251 4.57349 Actual/360 153,900.90 1,846,810.80
17 JPMCB Las Palmas 92.5% 12/08/16 31,400,000 12/13/16 74.8% 23,500,000 92 23,500,000 92 2.2% No No 4.75800 0.01501 4.74299 Actual/360 122,700.47 1,472,405.64
18 SMF VI Liberty Center 71.7% 02/01/17 33,000,000 01/04/17 63.9% 21,100,000 75 21,100,000 75 1.9% No No 5.23000 0.06251 5.16749 Actual/360 116,253.74 1,395,044.88
19 SMF VI Ocotillo Plaza 100.0% 01/01/17 30,500,000 11/07/16 64.8% 19,750,000 173 19,750,000 173 1.8% No No 5.07000 0.01501 5.05499 Actual/360 106,868.80 1,282,425.60
20 JPMCB Gwinnett Commerce Center 84.5% 01/01/17 27,800,000 10/18/16 67.3% 18,700,000 88 18,700,000 88 1.7% No No 4.72000 0.01501 4.70499 Actual/360 97,210.19 1,166,522.28
21 SMF VI Hilton Durham 69.2% 11/30/16 25,300,000 12/01/16 65.1% 16,500,000 84,615 16,475,654 84,491 1.5% No No 5.02300 0.01501 5.00799 Actual/360 88,807.65 1,065,691.80
22 JPMCB Woodglen Village 94.8% 12/01/16 21,685,000 11/15/16 74.6% 16,222,000 65,149 16,184,557 64,998 1.5% No No 5.59900 0.04501 5.55399 Actual/360 93,116.86 1,117,402.32
23 JPMCB Partridge Inn Augusta 60.9% 12/31/16 23,700,000 10/01/16 63.1% 15,000,000 104,895 14,945,235 104,512 1.4% No No 4.95000 0.01501 4.93499 Actual/360 80,065.50 960,786.00
24 JPMCB 4400 Dixie Highway 90.7% 12/01/16 19,650,000 09/30/16 72.3% 14,250,000 13 14,215,053 13 1.3% No No 5.22900 0.06501 5.16399 Actual/360 78,503.78 942,045.36
25 JPMCB TownePlace Suites Dallas Las Colinas 76.7% 11/30/16 17,810,000 11/17/16 66.7% 11,900,000 88,148 11,882,296 88,017 1.1% No No 4.95000 0.01501 4.93499 Actual/360 63,518.63 762,223.56
26 SMF VI 100 North Citrus 94.2% 02/06/17 18,300,000 01/17/17 64.8% 11,850,000 150 11,850,000 150 1.1% No No 4.82000 0.01501 4.80499 Actual/360 62,316.18 747,794.16
27 SMF VI Pangea 15 96.1% 12/19/16 15,750,000 10/28/16 57.1% 9,000,000 44,118 9,000,000 44,118 0.8% No No 5.26000 0.01501 5.24499 Actual/360 49,754.09 597,049.08
27.01 SMF VI 701 South Karlov Avenue 100.0% 12/19/16 2,300,000 10/28/16   1,314,286   1,314,286   0.1%                
27.02 SMF VI 1236 South Lawndale Avenue 75.0% 12/19/16 1,400,000 10/28/16   800,000   800,000   0.1%                
27.03 SMF VI 6125-6129 South Wabash Avenue 100.0% 12/19/16 1,400,000 10/28/16   800,000   800,000   0.1%                
27.04 SMF VI 11932 South Stewart Avenue 100.0% 12/19/16 1,200,000 10/28/16   685,714   685,714   0.1%                
27.05 SMF VI 7954 South Justine Street 93.3% 12/19/16 1,150,000 10/28/16   657,143   657,143   0.1%                
27.06 SMF VI 10 West 137th Street 100.0% 12/19/16 1,100,000 10/28/16   628,571   628,571   0.1%                
27.07 SMF VI 6715 South Dorchester Avenue 100.0% 12/19/16 1,100,000 10/28/16   628,571   628,571   0.1%                
27.08 SMF VI 10201 South Saint Lawrence Avenue 100.0% 12/19/16 1,050,000 10/28/16   600,000   600,000   0.1%                
27.09 SMF VI 5800-04 South Artesian Avenue 80.0% 12/19/16 800,000 10/28/16   457,143   457,143   0.0%                
27.10 SMF VI 8201 South Drexel Avenue 100.0% 12/19/16 750,000 10/28/16   428,571   428,571   0.0%                
27.11 SMF VI 7229 South Yates Boulevard 100.0% 12/19/16 700,000 10/28/16   400,000   400,000   0.0%                
27.12 SMF VI 7653 South Loomis Boulevard 100.0% 12/19/16 700,000 10/28/16   400,000   400,000   0.0%                
27.13 SMF VI 7700 South Carpenter Street 88.9% 12/19/16 700,000 10/28/16   400,000   400,000   0.0%                
27.14 SMF VI 2062 135th Place 100.0% 12/19/16 500,000 10/28/16   285,714   285,714   0.0%                
27.15 SMF VI 2066 135th Place 100.0% 12/19/16 500,000 10/28/16   285,714   285,714   0.0%                
27.16 SMF VI 9600 South Avenue L 100.0% 12/19/16 400,000 10/28/16   228,571   228,571   0.0%                
28 SMF VI The Shoppes at Letson Farms 94.5% 12/12/16 11,880,000 11/09/16 74.5% 8,850,000 93 8,850,000 93 0.8% No No 5.40000 0.05501 5.34499 Actual/360 49,695.48 596,345.76
29 SMF VI Montgomery Triangle Gateway 98.7% 01/25/17 10,700,000 12/20/16 69.6% 7,460,000 189 7,449,442 188 0.7% No No 5.40000 0.05501 5.34499 Actual/360 41,890.20 502,682.40
30 SMF VI Neilson Square 93.9% 01/01/17 8,785,000 01/01/17 74.9% 6,581,000 100 6,581,000 100 0.6% No No 4.87000 0.01501 4.85499 Actual/360 34,807.22 417,686.64
31 SMF VI Studio City Apartments 95.5% 01/23/17 11,690,000 12/12/16 55.1% 6,450,000 17,200 6,438,005 17,168 0.6% No No 5.51900 0.09501 5.42399 Actual/360 39,681.86 476,182.32
32 SMF VI St. Albans & Camino Commons 98.2% 12/01/16 9,620,000 11/29/16 66.4% 6,400,000 120 6,385,157 120 0.6% No No 5.57000 0.01501 5.55499 Actual/360 36,620.07 439,440.84
32.01 SMF VI Camino Commons 100.0% 12/01/16 5,000,000 11/29/16   3,400,000   3,392,115   0.3%                
32.02 SMF VI St. Albans Circle 95.3% 12/01/16 4,620,000 11/29/16   3,000,000   2,993,042   0.3%                
33 SMF VI Lake Geneva Commons 100.0% 12/20/16 8,670,000 11/25/16 73.1% 6,350,000 124 6,335,152 123 0.6% No No 5.52000 0.01501 5.50499 Actual/360 36,134.32 433,611.84
34 SMF VI Hampton Inn & Suites Huntsville 64.7% 11/30/16 10,200,000 12/01/16 62.1% 6,350,000 84,667 6,334,993 84,467 0.6% No No 5.45500 0.01501 5.43999 Actual/360 35,875.52 430,506.24
35 SMF VI Holiday Inn Express Orangeburg 79.2% 10/31/16 9,000,000 10/01/16 68.6% 6,200,000 79,487 6,170,852 79,113 0.6% No No 5.48600 0.01501 5.47099 Actual/360 38,021.61 456,259.32
36 SMF VI 3200 North Hayden 100.0% 12/01/16 8,380,000 11/29/16 70.7% 5,925,000 90 5,925,000 90 0.5% No No 5.21000 0.06501 5.14499 Actual/360 32,571.43 390,857.16
37 SMF VI Bellfort Village Apartments 97.4% 12/20/16 8,600,000 11/30/16 68.4% 5,900,000 30,412 5,880,067 30,310 0.5% No No 5.26800 0.01501 5.25299 Actual/360 35,418.30 425,019.60
38 SMF VI Courtyard Business Center 96.6% 01/13/17 9,500,000 12/14/16 60.0% 5,700,000 87 5,700,000 87 0.5% No No 5.21500 0.01501 5.19999 Actual/360 25,115.30 301,383.54
39 SMF VI Northgate Business Park III 91.4% 01/01/17 7,450,000 10/28/16 70.5% 5,250,000 34 5,250,000 34 0.5% No No 4.85000 0.01501 4.83499 Actual/360 27,703.82 332,445.84
40 SMF VI Aldine Plaza 100.0% 12/01/16 5,800,000 11/29/16 74.8% 4,350,000 151 4,339,694 150 0.4% No No 5.44000 0.01501 5.42499 Actual/360 24,535.32 294,423.84
41 SMF VI Walgreens Cooper City 100.0% 03/06/17 6,700,000 11/27/16 49.3% 3,300,000 218 3,300,000 218 0.3% No No 5.30400 0.01501 5.28899 Actual/360 14,788.58 177,463.00
42 SMF VI North Star Terrace MHP 77.4% 11/01/16 3,920,000 12/21/16 71.4% 2,800,000 15,819 2,800,000 15,819 0.3% No No 5.21200 0.05501 5.15699 Actual/360 15,395.87 184,750.44
43 SMF VI Rite Aid Sugar Hill 100.0% 03/06/17 4,330,000 10/27/16 64.4% 2,800,000 203 2,786,930 202 0.3% No No 5.53300 0.01501 5.51799 Actual/360 17,249.67 206,996.04

 

A-1-2 

 

 

ANNEX A-1

 

        First   Partial IO Partial IO Loan Rem. Rem.     Payment Grace Period Grace Period     Final   Maturity   Maturity Prepayment
Loan # Seller(1) Property Name Note Date Payment Date Last IO Payment First P&I Payment  Term  Amort I/O Period Seasoning Due Date  (Late Payment)  (Default) Maturity Date ARD Loan Mat Date Balance ($)(5)   LTV %(4) Provision (Payments)(11)
1 JPMCB Hilton Hawaiian Village 10/24/16 12/01/16     116 0 120 4 1 0 0 11/01/26 No   80,000,000   31.2% L(28),DeforGrtr1%orYM(85),O(7)
2 JPMCB Moffett Gateway 09/22/16 11/01/16 10/01/21 11/01/21 121 360 60 5 1 0 0 04/01/27 No   67,962,660   39.3% L(29),Def(90),O(7)
3 JPMCB Dallas Design District 01/05/17 03/01/17 02/01/20 03/01/20 119 360 36 1 1 0 0 02/01/27 No   66,758,419   55.3% L(25),Grtr1%orYM(91),O(4)
4 JPMCB Fresno Fashion Fair Mall 10/06/16 12/01/16     116 0 120 4 1 5 0 11/01/26 No   69,000,000   57.5% L(28),DeforGrtr1%orYM(88),O(4)
5 JPMCB Riverway 11/02/16 01/01/17     117 357 0 3 1 0 0 12/01/26 No   53,363,224   59.6% L(27),Def(90),O(3)
6 JPMCB 55 Hawthorne 12/22/16 02/01/17     118 0 120 2 1 0 5 (Twice per year) 01/01/27 No   61,500,000   50.0% L(26),Def(87),O(7)
7 JPMCB Bardmoor Palms 12/15/16 02/01/17     118 358 0 2 1 0 0 01/01/27 No   45,235,666   60.3% L(25),Grtr1%orYM(92),O(3)
8 JPMCB Landmark Square 12/02/16 02/01/17     118 0 120 2 1 0 0 01/01/27 No   51,000,000   56.9% L(26),Def(90),O(4)
9 JPMCB Centre Market Building 12/08/16 02/01/17     118 298 0 2 1 0 0 01/01/27 No   30,789,103   34.6% L(25),Grtr1%orYM(92),O(3)
10 JPMCB Courtyard Marriott - King Kamehameha 01/10/17 03/01/17     119 359 0 1 1 0 0 02/01/27 No   33,587,481   25.3% L(25),Grtr1%orYM(90),O(5)
11 JPMCB Milton Park 12/29/16 02/01/17 01/01/19 02/01/19 58 360 24 2 1 0 0 01/01/22 No   38,114,571   66.5% L(25),Grtr1%orYM(32),O(3)
12 JPMCB Reston EastPointe 11/08/16 01/01/17     81 0 84 3 1 0 0 12/01/23 No   38,000,000   62.1% L(27),Def(51),O(6)
13 JPMCB Orchard Hill Park 12/23/16 02/01/17     118 358 0 2 1 0 0 01/01/27 No   28,193,721   59.9% L(26),Def(90),O(4)
14 JPMCB 11200 Rockville Pike 12/22/16 02/01/17 01/01/20 02/01/20 118 360 36 2 1 0 0 01/01/27 No   29,288,535   64.9% L(26),Def(92),O(2)
15 JPMCB Marriott Galleria 12/23/16 02/01/17     58 358 0 2 1 0 0 01/01/22 No   29,623,451   58.1% L(26),Def(10),O(24)
16 JPMCB Royal Oaks Plaza 02/01/17 03/01/17     119 359 0 1 1 0 0 02/01/27 No   24,336,484   48.7% L(25),Def(91),O(4)
17 JPMCB Las Palmas 02/01/17 03/01/17 02/01/19 03/01/19 119 360 24 1 1 0 0 02/01/27 No   20,205,725   64.3% L(25),Grtr1%orYM(92),O(3)
18 SMF VI Liberty Center 01/31/17 03/06/17 02/06/19 03/06/19 119 360 24 1 6 0 0 02/06/27 No   18,360,223   55.6% L(25),Def(91),O(4)
19 SMF VI Ocotillo Plaza 02/01/17 03/06/17 02/06/19 03/06/19 119 360 24 1 6 0 0 02/06/27 No   17,117,256   56.1% L(25),DeforGrtr1%orYM(90),O(5)
20 JPMCB Gwinnett Commerce Center 11/22/16 01/01/17 12/01/19 01/01/20 117 360 36 3 1 0 0 12/01/26 No   16,452,415   59.2% L(27),Def(90),O(3)
21 SMF VI Hilton Durham 01/12/17 03/06/17     119 359 0 1 6 0 0 02/06/27 No   13,571,755   53.6% L(25),DeforGrtr1%orYM(90),O(5)
22 JPMCB Woodglen Village 12/09/16 02/01/17     58 358 0 2 1 0 0 01/01/22 No   15,090,737   69.6% L(25),Grtr1%orYM(32),O(3)
23 JPMCB Partridge Inn Augusta 11/30/16 01/01/17     117 357 0 3 1 0 0 12/01/26 No   12,310,553   51.9% L(25),Grtr1%orYM(92),O(3)
24 JPMCB 4400 Dixie Highway 12/30/16 02/01/17     118 358 0 2 1 0 0 01/01/27 No   11,800,005   60.1% L(25),Grtr1%orYM(89),O(6)
25 JPMCB TownePlace Suites Dallas Las Colinas 01/18/17 03/01/17     119 359 0 1 1 0 0 02/01/27 No   9,764,827   54.8% L(25),Def(92),O(3)
26 SMF VI 100 North Citrus 02/08/17 04/06/17     120 360 0 0 6 0 0 03/06/27 No   9,685,331   52.9% L(24),Def(91),O(5)
27 SMF VI Pangea 15 12/21/16 02/06/17 01/06/22 02/06/22 118 360 60 2 6 0 0 01/06/27 No   8,331,938   52.9% L(26),Def(88),O(6)
27.01 SMF VI 701 South Karlov Avenue                             1,216,727      
27.02 SMF VI 1236 South Lawndale Avenue                             740,617      
27.03 SMF VI 6125-6129 South Wabash Avenue                             740,617      
27.04 SMF VI 11932 South Stewart Avenue                             634,814      
27.05 SMF VI 7954 South Justine Street                             608,364      
27.06 SMF VI 10 West 137th Street                             581,913      
27.07 SMF VI 6715 South Dorchester Avenue                             581,913      
27.08 SMF VI 10201 South Saint Lawrence Avenue                             555,463      
27.09 SMF VI 5800-04 South Artesian Avenue                             423,210      
27.10 SMF VI 8201 South Drexel Avenue                             396,759      
27.11 SMF VI 7229 South Yates Boulevard                             370,308      
27.12 SMF VI 7653 South Loomis Boulevard                             370,308      
27.13 SMF VI 7700 South Carpenter Street                             370,308      
27.14 SMF VI 2062 135th Place                             264,506      
27.15 SMF VI 2066 135th Place                             264,506      
27.16 SMF VI 9600 South Avenue L                             211,605      
28 SMF VI The Shoppes at Letson Farms 12/15/16 02/06/17 01/06/19 02/06/19 118 360 24 2 6 0 0 01/06/27 No   7,733,390   65.1% L(26),Def(90),O(4)
29 SMF VI Montgomery Triangle Gateway 01/27/17 03/06/17     119 359 0 1 6 0 0 02/06/27 No   6,210,270   58.0% L(25),Def(91),O(4)
30 SMF VI Neilson Square 01/31/17 03/06/17 02/06/20 03/06/20 119 360 36 1 6 0 0 02/06/27 No   5,808,945   66.1% L(25),Def(91),O(4)
31 SMF VI Studio City Apartments 01/25/17 03/06/17     119 299 0 1 6 0 0 02/06/27 No   4,910,974   42.0% L(25),Def(91),O(4)
32 SMF VI St. Albans & Camino Commons 01/06/17 02/06/17     118 358 0 2 6 0 0 01/06/27 No   5,356,501   55.7% L(26),Def(90),O(4)
32.01 SMF VI Camino Commons                             2,845,642      
32.02 SMF VI St. Albans Circle                             2,510,860      
33 SMF VI Lake Geneva Commons 12/22/16 02/06/17 01/06/27 02/06/17 118 358 24 2 6 0 0 01/06/27 No   5,564,518   64.2% L(26),Def(90),O(4)
34 SMF VI Hampton Inn & Suites Huntsville 01/05/17 02/06/17     118 358 0 2 6 0 0 01/06/27 No   5,295,788   51.9% L(26),Def(90),O(4)
35 SMF VI Holiday Inn Express Orangeburg 11/30/16 01/06/17     117 297 0 3 6 0 0 12/06/26 No   4,716,238   52.4% L(27),Def(89),O(4)
36 SMF VI 3200 North Hayden 12/23/16 02/06/17 07/06/18 08/06/18 118 360 18 2 6 0 0 01/06/27 No   5,095,377   60.8% L(26),Def(90),O(4)
37 SMF VI Bellfort Village Apartments 12/30/16 02/06/17     118 298 0 2 6 0 0 01/06/27 No   4,453,087   51.8% L(26),Def(90),O(4)
38 SMF VI Courtyard Business Center 01/20/17 03/06/17     119 0 120 1 6 0 0 02/06/27 No   5,700,000   60.0% L(25),Def(91),O(4)
39 SMF VI Northgate Business Park III 01/13/17 03/06/17 02/06/21 03/06/21 119 360 48 1 6 0 0 02/06/27 No   4,733,139   63.5% L(25),Def(91),O(4)
40 SMF VI Aldine Plaza 12/20/16 02/06/17     118 358 0 2 6 0 0 01/06/27 No   3,626,128   62.5% L(26),Def(90),O(4)
41 SMF VI Walgreens Cooper City 12/22/16 02/06/17     118 0 120 2 6 0 0 01/06/27 No   3,300,000   49.3% L(26),Def(90),O(4)
42 SMF VI North Star Terrace MHP 01/12/17 03/06/17 02/06/18 03/06/18 119 360 12 1 6 0 0 02/06/27 No   2,377,801   60.7% L(25),Grtr1%orYM(91),O(4)
43 SMF VI Rite Aid Sugar Hill 12/02/16 01/06/17     117 297 0 3 6 0 0 12/06/26 No   2,133,423   49.3% L(27),Def(89),O(4)

 

A-1-3 

 

  

ANNEX A-1

 

      HISTORICAL FINANCIALS(12)
                               
      2013 2013 2013 2014 2014 2014 2015 2015 2015 Most Recent Most Recent Most Recent  
Loan # Seller(1) Property Name Revenues ($) Total Expenses ($) NOI ($) Revenues ($) Total Expenses ($) NOI ($) Revenues ($) Total Expenses ($) NOI ($)  Revenues ($)  Total Expenses ($)  NOI ($) As of
1 JPMCB Hilton Hawaiian Village 324,974,888 214,010,053 110,964,835 346,089,627 226,228,808 119,860,819 366,791,222 238,053,500 128,737,723 376,987,438 245,094,318 131,893,120 09/30/16
2 JPMCB Moffett Gateway                          
3 JPMCB Dallas Design District 11,762,840 4,136,520 7,626,320 13,056,367 4,051,248 9,005,119 12,606,620 4,108,165 8,498,455 13,673,772 4,035,907 9,637,865 09/30/16
4 JPMCB Fresno Fashion Fair Mall 31,587,519 6,451,070 25,136,449 32,794,192 6,442,883 26,351,309 33,828,408 5,653,406 28,175,002 33,587,207 5,947,307 27,639,900 12/31/16
5 JPMCB Riverway 25,489,463 11,004,945 14,484,517 23,349,290 11,652,689 11,696,602 24,694,712 12,493,997 12,200,715 24,766,779 12,494,418 12,272,361 08/31/16
6 JPMCB 55 Hawthorne             3,923,280 2,548,006 1,375,274 6,478,417 2,617,646 3,860,771 11/30/16
7 JPMCB Bardmoor Palms 3,302,262 1,819,752 1,482,510 3,279,768 1,794,069 1,485,699 2,557,369 1,911,205 646,165 4,074,118 2,017,161 2,056,957 09/30/16
8 JPMCB Landmark Square 21,090,032 11,173,914 9,916,119 22,206,765 11,760,507 10,446,258 19,852,023 12,384,894 7,467,129 22,240,746 12,516,518 9,724,228 12/31/16
9 JPMCB Centre Market Building 17,356,041 6,079,872 11,276,169 16,670,681 6,213,521 10,457,160 16,964,386 6,121,740 10,842,646 15,993,117 6,258,861 9,734,256 09/30/16
10 JPMCB Courtyard Marriott - King Kamehameha 25,075,960 20,458,619 4,617,341 27,285,291 21,230,062 6,055,229 28,621,022 21,831,444 6,789,578 30,185,741 22,663,084 7,522,657 11/30/16
11 JPMCB Milton Park 6,167,878 2,409,405 3,758,473 6,031,997 2,527,892 3,504,105 6,473,666 2,525,462 3,948,204 5,712,222 2,513,387 3,198,835 10/31/16
12 JPMCB Reston EastPointe 6,142,572 1,797,695 4,344,877 6,374,053 1,904,880 4,469,173 6,949,747 1,881,013 5,068,734 6,941,243 1,916,979 5,024,264 09/30/16
13 JPMCB Orchard Hill Park 3,575,814 622,489 2,953,325 3,704,459 740,369 2,964,090 3,808,565 820,162 2,988,403 3,737,399 607,194 3,130,205 11/30/16
14 JPMCB 11200 Rockville Pike 5,306,525 2,037,730 3,268,795 5,117,970 1,967,147 3,150,823 5,688,267 1,878,386 3,809,881 5,581,849 1,784,525 3,797,324 10/31/16
15 JPMCB Marriott Galleria 16,537,157 12,463,158 4,073,999 16,468,082 12,746,690 3,721,392 17,387,276 13,426,031 3,961,245 15,875,688 12,594,472 3,281,215 10/31/16
16 JPMCB Royal Oaks Plaza 3,644,571 1,062,533 2,582,038 3,615,553 1,073,386 2,542,167 4,033,781 1,044,171 2,989,610 3,900,503 1,190,639 2,709,864 12/31/16
17 JPMCB Las Palmas 2,908,363 966,905 1,941,458 2,960,052 1,017,781 1,942,271 3,167,744 1,138,038 2,029,705 3,312,959 1,243,425 2,069,534 12/31/16
18 SMF VI Liberty Center 5,482,326 2,302,992 3,179,334 4,890,564 2,075,331 2,815,233 3,565,621 1,757,693 1,807,928 3,911,422 1,784,364 2,127,058 12/31/16
19 SMF VI Ocotillo Plaza 2,133,815 436,884 1,696,931 2,134,220 400,516 1,733,704 2,264,041 412,067 1,851,974 2,283,477 426,649 1,856,828 12/31/16
20 JPMCB Gwinnett Commerce Center 3,197,676 1,409,947 1,787,729 3,398,136 1,503,083 1,895,053 3,586,875 1,522,715 2,064,160 3,633,759 1,519,571 2,114,188 08/31/16
21 SMF VI Hilton Durham 7,557,119 5,821,475 1,735,644 7,851,152 5,955,688 1,895,464 8,486,200 6,453,804 2,032,396 8,264,062 6,376,768 1,887,294 11/30/16
22 JPMCB Woodglen Village 1,957,321 1,259,076 698,244 2,243,790 1,240,264 1,003,526 2,375,887 1,197,028 1,178,859 2,541,364 1,280,747 1,260,616 11/30/16
23 JPMCB Partridge Inn Augusta 3,943,492 3,944,313 -821 3,403,721 3,170,907 232,814 3,315,466 2,669,743 645,723 6,407,984 4,643,346 1,764,638 12/31/16
24 JPMCB 4400 Dixie Highway 1,912,448 895,336 1,017,112 2,296,639 868,844 1,427,795 2,606,188 878,064 1,728,124 2,760,853 848,153 1,912,700 11/30/16
25 JPMCB TownePlace Suites Dallas Las Colinas 2,872,265 2,086,035 786,230 2,916,873 2,011,931 904,942 3,637,302 2,285,394 1,351,908 3,832,153 2,490,820 1,341,333 11/30/16
26 SMF VI 100 North Citrus 948,336 690,003 258,333 1,349,544 780,021 569,523 1,532,429 798,860 733,569 1,676,892 830,878 846,013 11/30/16
27 SMF VI Pangea 15                   1,394,058 710,797 683,261 10/31/16
27.01 SMF VI 701 South Karlov Avenue                          
27.02 SMF VI 1236 South Lawndale Avenue                          
27.03 SMF VI 6125-6129 South Wabash Avenue                          
27.04 SMF VI 11932 South Stewart Avenue                          
27.05 SMF VI 7954 South Justine Street                          
27.06 SMF VI 10 West 137th Street                          
27.07 SMF VI 6715 South Dorchester Avenue                          
27.08 SMF VI 10201 South Saint Lawrence Avenue                          
27.09 SMF VI 5800-04 South Artesian Avenue                          
27.10 SMF VI 8201 South Drexel Avenue                          
27.11 SMF VI 7229 South Yates Boulevard                          
27.12 SMF VI 7653 South Loomis Boulevard                          
27.13 SMF VI 7700 South Carpenter Street                          
27.14 SMF VI 2062 135th Place                          
27.15 SMF VI 2066 135th Place                          
27.16 SMF VI 9600 South Avenue L                          
28 SMF VI The Shoppes at Letson Farms 1,128,811 257,551 871,260 1,130,082 258,080 872,002       1,047,233 302,753 744,480 09/30/16
29 SMF VI Montgomery Triangle Gateway 978,490 353,508 624,982 1,000,558 369,043 631,515 1,023,967 394,615 629,352 1,128,258 381,728 746,530 12/31/16
30 SMF VI Neilson Square 811,136 148,512 662,624 858,220 167,287 690,933 868,057 162,294 705,763 864,839 157,779 707,060 11/30/16
31 SMF VI Studio City Apartments 2,274,390 1,581,651 692,739 2,358,885 1,545,439 813,446 2,404,913 1,514,693 890,220 2,487,594 1,583,259 904,334 09/30/16
32 SMF VI St. Albans & Camino Commons       725,486 213,067 512,419 702,396 175,992 526,404 839,106 186,693 652,413 Various
32.01 SMF VI Camino Commons       318,987 115,440 203,548 335,361 90,215 245,146 428,279 108,783 319,496 12/09/16
32.02 SMF VI St. Albans Circle       406,499 97,628 308,871 367,035 85,777 281,259 410,827 77,910 332,917 12/02/16
33 SMF VI Lake Geneva Commons       524,903 213,957 310,946 588,361 223,152 365,209 815,107 232,945 582,162 10/31/16
34 SMF VI Hampton Inn & Suites Huntsville                   2,163,467 1,353,443 810,025 11/30/16
35 SMF VI Holiday Inn Express Orangeburg 2,126,322 1,368,441 757,882 2,485,615 1,484,181 1,001,434 2,463,669 1,574,459 889,210 2,529,100 1,590,978 938,121 10/31/16
36 SMF VI 3200 North Hayden 924,424 383,852 540,572 900,848 365,212 535,636 854,677 354,218 500,459 857,876 350,391 507,485 11/30/16
37 SMF VI Bellfort Village Apartments 1,055,080 576,757 478,323 1,360,083 697,846 662,237 1,260,358 808,143 452,215 1,389,176 667,069 722,107 11/30/16
38 SMF VI Courtyard Business Center 957,042 313,598 643,444 1,021,237 289,696 731,541 1,055,300 323,035 732,265 1,071,919 293,270 778,649 12/31/16
39 SMF VI Northgate Business Park III                   920,634 346,256 574,378 07/31/16
40 SMF VI Aldine Plaza       238,516 148,602 89,914 459,138 194,023 265,116 538,566 207,439 331,127 09/30/16
41 SMF VI Walgreens Cooper City                          
42 SMF VI North Star Terrace MHP 552,247 299,057 253,189 556,784 326,981 229,803 563,362 304,327 259,035 573,669 307,433 266,236 11/30/16
43 SMF VI Rite Aid Sugar Hill                          

 

A-1-4 

 

 

ANNEX A-1

 

      UW
Economic		 UW UW Total UW UW Capital UW UW UW NCF UW NOI UW NCF   Ground Lease Ground Lease  
Loan # Seller(1) Property Name Occupancy % Revenues ($)(3) Expenses ($) NOI ($)(3)(13)  Items ($) NCF ($)(3)(13)  NOI DSCR(14) DSCR(14) Debt Yield %  Debt Yield % Title Type(22)  Expiration  Extension Terms PML %
1 JPMCB Hilton Hawaiian Village 94.6% 374,437,742 241,850,768 132,586,975 0 132,586,975 4.47 4.47 19.0% 19.0% Fee/Leasehold 07/31/35 None  
2 JPMCB Moffett Gateway 95.0% 35,097,235 6,170,971 28,926,265 1,294,985 27,631,280 2.04 1.95 11.9% 11.4% Fee     15%
3 JPMCB Dallas Design District 95.0% 15,304,762 4,048,471 11,256,291 1,051,292 10,204,999 1.41 1.28 9.4% 8.5% Fee/Leasehold 12/20/51 None  
4 JPMCB Fresno Fashion Fair Mall 90.8% 33,363,299 6,507,414 26,855,885 1,019,015 25,836,869 2.27 2.19 8.3% 7.9% Fee     7%
5 JPMCB Riverway 90.0% 25,871,039 12,713,001 13,158,038 1,479,065 11,678,973 1.60 1.42 10.3% 9.2% Fee      
6 JPMCB 55 Hawthorne 94.6% 10,472,045 3,220,717 7,251,328 552,636 6,698,692 2.82 2.61 11.8% 10.9% Fee     12%
7 JPMCB Bardmoor Palms 93.0% 7,514,480 2,324,477 5,190,003 359,765 4,830,238 1.49 1.39 9.4% 8.7% Fee      
8 JPMCB Landmark Square 85.4% 24,368,179 12,347,514 12,020,665 962,555 11,058,110 2.39 2.19 12.0% 11.1% Fee/Leasehold 02/28/82 Year to year  
9 JPMCB Centre Market Building 85.0% 13,947,168 6,326,894 7,620,274 698,620 6,921,654 2.73 2.48 18.2% 16.5% Fee      
10 JPMCB Courtyard Marriott - King Kamehameha 85.1% 30,134,131 22,711,533 7,422,598 0 7,422,598 3.06 3.06 18.6% 18.6% Leasehold 06/30/96 None 16%
11 JPMCB Milton Park 86.9% 6,664,316 2,644,155 4,020,160 542,207 3,477,954 1.57 1.36 10.1% 8.7% Fee      
12 JPMCB Reston EastPointe 87.1% 6,041,200 2,077,266 3,963,934 434,752 3,529,182 2.45 2.18 10.4% 9.3% Fee      
13 JPMCB Orchard Hill Park 95.0% 3,686,777 795,612 2,891,166 57,236 2,833,929 1.23 1.21 8.6% 8.5% Fee      
14 JPMCB 11200 Rockville Pike 81.7% 5,241,842 1,887,448 3,354,394 323,120 3,031,273 1.61 1.45 10.1% 9.1% Fee      
15 JPMCB Marriott Galleria 68.3% 15,832,406 12,627,330 3,205,075 0 3,205,075 1.51 1.51 10.0% 10.0% Fee      
16 JPMCB Royal Oaks Plaza 86.0% 4,329,968 1,238,012 3,091,956 217,343 2,874,613 1.67 1.56 10.3% 9.6% Fee      
17 JPMCB Las Palmas 89.8% 3,441,418 1,343,093 2,098,325 179,559 1,918,766 1.43 1.30 8.9% 8.2% Fee      
18 SMF VI Liberty Center 79.8% 4,326,031 1,804,282 2,521,749 435,896 2,085,853 1.81 1.50 12.0% 9.9% Fee      
19 SMF VI Ocotillo Plaza 92.5% 2,250,646 409,166 1,841,480 137,161 1,704,319 1.44 1.33 9.3% 8.6% Fee      
20 JPMCB Gwinnett Commerce Center 84.2% 3,689,227 1,643,224 2,046,003 404,268 1,641,735 1.75 1.41 10.9% 8.8% Fee      
21 SMF VI Hilton Durham 69.2% 8,247,775 6,238,806 2,008,969 0 2,008,969 1.89 1.89 12.2% 12.2% Fee      
22 JPMCB Woodglen Village 93.4% 2,765,975 1,203,889 1,562,087 62,250 1,499,837 1.40 1.34 9.7% 9.3% Fee      
23 JPMCB Partridge Inn Augusta 60.9% 6,390,017 4,674,345 1,715,672 0 1,715,672 1.79 1.79 11.5% 11.5% Fee      
24 JPMCB 4400 Dixie Highway 88.0% 2,627,332 993,330 1,634,002 321,480 1,312,522 1.73 1.39 11.5% 9.2% Fee      
25 JPMCB TownePlace Suites Dallas Las Colinas 76.7% 3,821,865 2,523,331 1,298,534 0 1,298,534 1.70 1.70 10.9% 10.9% Fee      
26 SMF VI 100 North Citrus 91.1% 2,044,177 881,766 1,162,411 79,800 1,082,611 1.55 1.45 9.8% 9.1% Fee     18%
27 SMF VI Pangea 15 92.6% 1,868,348 722,565 1,145,783 51,000 1,094,783 1.92 1.83 12.7% 12.2% Fee      
27.01 SMF VI 701 South Karlov Avenue                     Fee      
27.02 SMF VI 1236 South Lawndale Avenue                     Fee      
27.03 SMF VI 6125-6129 South Wabash Avenue                     Fee      
27.04 SMF VI 11932 South Stewart Avenue                     Fee      
27.05 SMF VI 7954 South Justine Street                     Fee      
27.06 SMF VI 10 West 137th Street                     Fee      
27.07 SMF VI 6715 South Dorchester Avenue                     Fee      
27.08 SMF VI 10201 South Saint Lawrence Avenue                     Fee      
27.09 SMF VI 5800-04 South Artesian Avenue                     Fee      
27.10 SMF VI 8201 South Drexel Avenue                     Fee      
27.11 SMF VI 7229 South Yates Boulevard                     Fee      
27.12 SMF VI 7653 South Loomis Boulevard                     Fee      
27.13 SMF VI 7700 South Carpenter Street                     Fee      
27.14 SMF VI 2062 135th Place                     Fee      
27.15 SMF VI 2066 135th Place                     Fee      
27.16 SMF VI 9600 South Avenue L                     Fee      
28 SMF VI The Shoppes at Letson Farms 93.1% 1,192,251 324,082 868,169 67,268 800,901 1.46 1.34 9.8% 9.0% Fee      
29 SMF VI Montgomery Triangle Gateway 93.0% 1,099,229 375,815 723,414 16,029 707,385 1.44 1.41 9.7% 9.5% Fee      
30 SMF VI Neilson Square 94.0% 883,450 189,623 693,827 65,107 628,720 1.66 1.51 10.5% 9.6% Fee      
31 SMF VI Studio City Apartments 87.2% 2,487,594 1,583,145 904,449 93,750 810,699 1.90 1.70 14.0% 12.6% Fee      
32 SMF VI St. Albans & Camino Commons 94.0% 846,048 206,932 639,116 54,535 584,581 1.45 1.33 10.0% 9.2% Fee      
32.01 SMF VI Camino Commons 95.0% 443,289 102,545 340,744 26,168 314,576         Fee      
32.02 SMF VI St. Albans Circle 93.0% 402,759 104,387 298,372 28,368 270,004         Fee      
33 SMF VI Lake Geneva Commons 95.0% 789,807 200,904 588,903 35,958 552,945 1.36 1.28 9.3% 8.7% Fee      
34 SMF VI Hampton Inn & Suites Huntsville 64.7% 2,157,709 1,370,501 787,208 0 787,208 1.83 1.83 12.4% 12.4% Fee      
35 SMF VI Holiday Inn Express Orangeburg 79.2% 2,522,237 1,652,233 870,005 0 870,005 1.91 1.91 14.1% 14.1% Fee      
36 SMF VI 3200 North Hayden 89.2% 994,140 364,285 629,855 83,478 546,377 1.61 1.40 10.6% 9.2% Fee      
37 SMF VI Bellfort Village Apartments 91.3% 1,467,633 755,082 712,551 58,200 654,351 1.68 1.54 12.1% 11.1% Fee      
38 SMF VI Courtyard Business Center 95.0% 1,025,736 301,123 724,613 86,452 638,160 2.40 2.12 12.7% 11.2% Fee      
39 SMF VI Northgate Business Park III 91.5% 992,047 351,436 640,610 101,071 539,539 1.93 1.62 12.2% 10.3% Fee      
40 SMF VI Aldine Plaza 93.1% 656,740 232,193 424,547 35,240 389,308 1.44 1.32 9.8% 9.0% Fee      
41 SMF VI Walgreens Cooper City 98.0% 327,320 18,716 308,604 2,268 306,336 1.74 1.73 9.4% 9.3% Fee      
42 SMF VI North Star Terrace MHP 75.6% 573,669 291,646 282,023 8,850 273,173 1.53 1.48 10.1% 9.8% Fee      
43 SMF VI Rite Aid Sugar Hill 95.0% 298,247 5,965 292,282 21,567 270,715 1.41 1.31 10.5% 9.7% Fee      

 

A-1-5 

 

 

ANNEX A-1

 

      UPFRONT ESCROW(15)
                       
      Upfront Capex Upfront Engin. Upfront Envir. Upfront TI/LC Upfront RE Tax Upfront Ins. Upfront Debt Service Upfront Other Other Upfront
Loan # Seller(1) Property Name Reserve ($) Reserve ($)  Reserve ($) Reserve ($) Reserve ($) Reserve ($) Reserve ($) Reserve ($) Description ($)
1 JPMCB Hilton Hawaiian Village 0 0 0 0 0 0 0 0  
2 JPMCB Moffett Gateway 0 0 0 0 180,864 0 0 86,961,915 Outstanding TI/LC Reserve: 49,386,882; Free Rent Reserve: 37,575,033
3 JPMCB Dallas Design District 374,106 123,125 0 3,278,052 316,270 200,000 0 2,032,511 Outstanding TI/LC Reserve: 1,693,764; Free Rent Reserve: 320,671; Ground Rent Reserve: 18,076
4 JPMCB Fresno Fashion Fair Mall 0 0 0 0 0 0 0 0  
5 JPMCB Riverway 14,485 81,825 0 108,640 360,173 0 0 7,256,297 Outstanding TI/LC Reserve: 6,984,788; Free Rent Reserve: 271,509
6 JPMCB 55 Hawthorne 0 0 0 0 0 0 0 2,531,359 Outstanding TI/LC Reserve: 1,484,875; Free Rent Reserve: 1,046,484
7 JPMCB Bardmoor Palms 7,110 0 0 28,425 93,078 0 0 770,000 Outstanding TI/LC Reserve
8 JPMCB Landmark Square 0 0 0 0 1,325,844 0 0 0  
9 JPMCB Centre Market Building 6,469 0 0 250,000 565,953 0 0 0  
10 JPMCB Courtyard Marriott - King Kamehameha 81,532 0 0 0 38,955 0 0 459,021 Ground Lease Reserve
11 JPMCB Milton Park 5,316 0 0 39,868 250,282 0 0 837,490 Outstanding TI Reserve: 800,717; Free Rent Reserve: 36,773
12 JPMCB Reston EastPointe 3,254 0 0 1,150,000 59,736 0 0 2,023,260 Accretive Leasing Reserve: 2,000,000; Free Rent Reserve: 23,260.03
13 JPMCB Orchard Hill Park 1,202 0 0 15,900 75,423 6,890 0 0  
14 JPMCB 11200 Rockville Pike 4,014 13,781 0 300,000 172,630 12,951 0 266,846 Free Rent Reserve: 232,617.46; Outstanding TI/LC Reserve: 34,228.05
15 JPMCB Marriott Galleria 0 0 0 0 0 0 0 0  
16 JPMCB Royal Oaks Plaza 6,214 334,625 0 13,809 133,792 30,317 75,000 540,000 Winn-Dixie Reserve
17 JPMCB Las Palmas 3,185 479,820 80,000 13,750 87,500 0 0 200,000 Outstanding TI Reserve
18 SMF VI Liberty Center 0 53,438 0 0 146,906 10,638 0 371,964 Outstanding TI Reserve: 307,212; Free Rent Reserve: 64,752
19 SMF VI Ocotillo Plaza 0 132,757 0 0 6,190 0 0 1,264,400 Marketon Reserve: 1,250,000; Oportun Allowance Reserve: 14,400
20 JPMCB Gwinnett Commerce Center 5,876 68,438 0 28,486 36,370 3,824 0 119,325 Outstanding TI/LC Reserve: 107,055; Free Rent Reserve: 12,270
21 SMF VI Hilton Durham 0 0 0 0 38,525 70,233 0 3,202,753 PIP Reserve
22 JPMCB Woodglen Village 5,188 16,313 0 0 32,618 0 0 0  
23 JPMCB Partridge Inn Augusta 20,461 0 0 0 12,100 38,500 0 150,000 Seasonality Reserve
24 JPMCB 4400 Dixie Highway 8,930 0 0 600,000 156,993 0 0 100,000 Outstanding TI/LC Reserve
25 JPMCB TownePlace Suites Dallas Las Colinas 12,775 0 0 0 91,990 12,675 0 105,100 PIP Reserve
26 SMF VI 100 North Citrus 0 14,669 0 150,000 8,589 10,415 0 170,858 Wells Fargo TI Reserve: 107,695.80; Free Rent Reserve: 63,162.05
27 SMF VI Pangea 15 0 0 0 0 52,121 32,791 0 0  
27.01 SMF VI 701 South Karlov Avenue                  
27.02 SMF VI 1236 South Lawndale Avenue                  
27.03 SMF VI 6125-6129 South Wabash Avenue                  
27.04 SMF VI 11932 South Stewart Avenue                  
27.05 SMF VI 7954 South Justine Street                  
27.06 SMF VI 10 West 137th Street                  
27.07 SMF VI 6715 South Dorchester Avenue                  
27.08 SMF VI 10201 South Saint Lawrence Avenue                  
27.09 SMF VI 5800-04 South Artesian Avenue                  
27.10 SMF VI 8201 South Drexel Avenue                  
27.11 SMF VI 7229 South Yates Boulevard                  
27.12 SMF VI 7653 South Loomis Boulevard                  
27.13 SMF VI 7700 South Carpenter Street                  
27.14 SMF VI 2062 135th Place                  
27.15 SMF VI 2066 135th Place                  
27.16 SMF VI 9600 South Avenue L                  
28 SMF VI The Shoppes at Letson Farms 0 22,750 0 100,000 38,787 14,822 0 104,135 Outstanding TI/LC Reserve: 93,027; Rent Gap Reserve: 11,108
29 SMF VI Montgomery Triangle Gateway 0 0 0 400,000 40,750 11,552 0 48,000 Green Diamond Tenant Improvement Reserve
30 SMF VI Neilson Square 100,271 17,813 0 200,000 18,011 16,530 0 0  
31 SMF VI Studio City Apartments 0 112,106 119,515 0 33,830 25,579 0 0  
32 SMF VI St. Albans & Camino Commons 0 0 0 0 64,241 2,917 0 0  
32.01 SMF VI Camino Commons                  
32.02 SMF VI St. Albans Circle                  
33 SMF VI Lake Geneva Commons 0 1,875 0 0 9,126 18,707 0 338,338 Aldi Rent Reserve: 298,338; Outstanding TI/LC Reserve: 40,000
34 SMF VI Hampton Inn & Suites Huntsville 0 0 0 0 10,638 12,889 0 0  
35 SMF VI Holiday Inn Express Orangeburg 0 29,313 0 0 0 56,437 0 350,000 PIP Reserve
36 SMF VI 3200 North Hayden 0 0 0 0 30,221 2,676 0 98,575 EZ Links TI/LC Reserve: 51,918.60; EZ Links Free Rent Reserve: 24,043.67; NFS TI/LC Reserve: 22,612.35
37 SMF VI Bellfort Village Apartments 0 54,875 0 0 9,448 119,861 0 0  
38 SMF VI Courtyard Business Center 0 0 0 0 33,735 0 0 0  
39 SMF VI Northgate Business Park III 0 106,344 0 0 44,671 12,656 0 0  
40 SMF VI Aldine Plaza 0 0 0 0 7,559 5,772 0 0  
41 SMF VI Walgreens Cooper City 0 0 0 0 0 2,028 0 0  
42 SMF VI North Star Terrace MHP 0 8,625 0 0 23,711 1,966 0 0  
43 SMF VI Rite Aid Sugar Hill 0 5,000 0 75,000 0 91 0 0  

 

A-1-6 

 

 

ANNEX A-1

 

      MONTHLY ESCROW(16)
                   
      Monthly Capex Monthly Envir. Monthly TI/LC Monthly RE Tax Monthly Ins. Monthly Other Other Monthly
Loan # Seller(1) Property Name Reserve ($) Reserve ($) Reserve ($) Reserve ($) Reserve ($) Reserve ($) Description ($)
1 JPMCB Hilton Hawaiian Village Springing 0 0 Springing Springing 0  
2 JPMCB Moffett Gateway 0 0 0 180,864 Springing 0  
3 JPMCB Dallas Design District Springing 0 Springing 316,270 Springing 6,025 Ground Rent Reserve
4 JPMCB Fresno Fashion Fair Mall Springing 0 Springing Springing Springing 0  
5 JPMCB Riverway 14,485 0 108,640 500,000 Springing 0  
6 JPMCB 55 Hawthorne 0 0 Springing Springing Springing 0  
7 JPMCB Bardmoor Palms 7,110 0 28,425 46,539 Springing 0  
8 JPMCB Landmark Square Springing 0 Springing 220,974 Springing 0  
9 JPMCB Centre Market Building 6,469 0 250,000 143,863 Springing 0  
10 JPMCB Courtyard Marriott - King Kamehameha 4% of Gross Revenues 0 0 38,984 Springing 421,178 Ground Lease Reserve: 229,510.50; PIP Reserve: 191,667
11 JPMCB Milton Park 5,316 0 39,868 62,571 Springing 0  
12 JPMCB Reston EastPointe 3,254 0 48,808 59,736 Springing 0  
13 JPMCB Orchard Hill Park 1,202 0 15,900 25,141 Springing 0  
14 JPMCB 11200 Rockville Pike 4,014 0 19,294 43,157 3,548 0  
15 JPMCB Marriott Galleria Springing 0 0 Springing Springing 0  
16 JPMCB Royal Oaks Plaza 6,214 0 13,809 33,448 15,159 0  
17 JPMCB Las Palmas 3,185 0 13,750 43,750 Springing 0  
18 SMF VI Liberty Center 8,391 0 46,640 36,726 3,546 0  
19 SMF VI Ocotillo Plaza 1,905 0 9,525 6,190 Springing 0  
20 JPMCB Gwinnett Commerce Center 5,876 0 28,486 36,370 3,823 0  
21 SMF VI Hilton Durham 4% of Gross Revenues 0 0 19,262 5,403 0  
22 JPMCB Woodglen Village 5,188 0 0 23,526 Springing 0  
23 JPMCB Partridge Inn Augusta 4% of Gross Revenues 0 0 6,050 Springing Springing PIP Reserve; Seasonality Reserve
24 JPMCB 4400 Dixie Highway 8,930 0 26,790 23,002 Springing 0  
25 JPMCB TownePlace Suites Dallas Las Colinas 4% of Gross Revenues 0 0 18,400 6,337 0  
26 SMF VI 100 North Citrus 1,317 0 6,583 8,589 1,302 0  
27 SMF VI Pangea 15 4,250 0 0 8,687 3,643 0  
27.01 SMF VI 701 South Karlov Avenue              
27.02 SMF VI 1236 South Lawndale Avenue              
27.03 SMF VI 6125-6129 South Wabash Avenue              
27.04 SMF VI 11932 South Stewart Avenue              
27.05 SMF VI 7954 South Justine Street              
27.06 SMF VI 10 West 137th Street              
27.07 SMF VI 6715 South Dorchester Avenue              
27.08 SMF VI 10201 South Saint Lawrence Avenue              
27.09 SMF VI 5800-04 South Artesian Avenue              
27.10 SMF VI 8201 South Drexel Avenue              
27.11 SMF VI 7229 South Yates Boulevard              
27.12 SMF VI 7653 South Loomis Boulevard              
27.13 SMF VI 7700 South Carpenter Street              
27.14 SMF VI 2062 135th Place              
27.15 SMF VI 2066 135th Place              
27.16 SMF VI 9600 South Avenue L              
28 SMF VI The Shoppes at Letson Farms 2,298 0 7,924 9,697 1,235 Springing Major Tenant Reserve
29 SMF VI Montgomery Triangle Gateway 495 0 3,321 13,583 1,050 0  
30 SMF VI Neilson Square 1,311 0 Springing 6,004 1,272 Springing Major Tenant Reserve
31 SMF VI Studio City Apartments 10,938 0 0 16,915 5,116 0  
32 SMF VI St. Albans & Camino Commons 598 0 4,417 8,405 1,459 Springing Major Tenant Reserve
32.01 SMF VI Camino Commons              
32.02 SMF VI St. Albans Circle              
33 SMF VI Lake Geneva Commons 856 0 2,140 9,126 1,701 Springing Major Tenant Reserve
34 SMF VI Hampton Inn & Suites Huntsville 2% of Gross Revenues 0 0 10,638 3,223 0  
35 SMF VI Holiday Inn Express Orangeburg 5% of Gross Revenues 0 0 7,381 4,341 0  
36 SMF VI 3200 North Hayden 1,462 0 5,414 5,037 1,338 0  
37 SMF VI Bellfort Village Apartments 4,850 0 0 9,448 12,860 0  
38 SMF VI Courtyard Business Center 1,581 0 Springing 8,434 Springing 0  
39 SMF VI Northgate Business Park III 1,944 0 6,479 14,891 1,266 0  
40 SMF VI Aldine Plaza 361 0 2,084 7,559 1,154 Springing Dollar Tree Reserve
41 SMF VI Walgreens Cooper City 189 0 0 Springing 1,014 Springing Walgreens Space Reserve
42 SMF VI North Star Terrace MHP 738 0 0 4,742 655 0  
43 SMF VI Rite Aid Sugar Hill 358 0 1,440 Springing 46 0  

 

A-1-7 

 

 

ANNEX A-1

 

                             
      RESERVE CAPS(17)     LARGEST TENANT (3), (18), (19), (20)
                             
      CapEx Envir. TI/LC RE Tax Insur. Debt Service Other   Single     Lease
Loan # Seller(1) Property Name  Reserve Cap ($)  Reserve Cap ($)  Reserve Cap ($)  Reserve Cap ($)  Reserve Cap ($)  Reserve Cap ($)  Reserve Cap ($)   Tenant Largest Tenant Unit Size Expiration
1 JPMCB Hilton Hawaiian Village                 No      
2 JPMCB Moffett Gateway                 Yes Google 612,691 03/31/27
3 JPMCB Dallas Design District 372,816   3,278,052           No Regulus Group LLC 44,345 03/31/17
4 JPMCB Fresno Fashion Fair Mall 184,080   1,112,820           No JCPenney 153,769 11/30/17
5 JPMCB Riverway 869,100               No U.S. Foods 320,341 09/30/23
6 JPMCB 55 Hawthorne                 Yes Yelp 136,432 07/31/25
7 JPMCB Bardmoor Palms     1,500,000           No Allstate 127,669 09/30/26
8 JPMCB Landmark Square 500,000               No Cummings & Lockwood 55,643 04/30/26
9 JPMCB Centre Market Building 388,120   7,750,000           No US Customs and Border Protection 217,419 05/31/20
10 JPMCB Courtyard Marriott - King Kamehameha                 No      
11 JPMCB Milton Park 127,584               No Landis+Gyr 101,011 02/28/22
12 JPMCB Reston EastPointe 39,046               No Vencore, Inc 107,075 11/30/20
13 JPMCB Orchard Hill Park 43,272   572,400           No Kohl’s 88,925 01/31/26
14 JPMCB 11200 Rockville Pike     1,157,640           No RR Donnelley Financial, Inc. 28,116 02/28/21
15 JPMCB Marriott Galleria                 No      
16 JPMCB Royal Oaks Plaza 300,000   497,130           No Winn-Dixie 35,922 10/28/17
17 JPMCB Las Palmas     330,000           No HEB 91,553 09/30/27
18 SMF VI Liberty Center     1,450,000           No Micro Focus 25,232 10/31/21
19 SMF VI Ocotillo Plaza     342,903           No Marketon 43,130 12/31/21
20 JPMCB Gwinnett Commerce Center     1,800,000           No GSA Department of Veterans Affairs 21,411 09/30/25
21 SMF VI Hilton Durham                 No      
22 JPMCB Woodglen Village                 No      
23 JPMCB Partridge Inn Augusta                 No      
24 JPMCB 4400 Dixie Highway     1,100,000           No Gardens Alive 407,600 06/30/23
25 JPMCB TownePlace Suites Dallas Las Colinas                 No      
26 SMF VI 100 North Citrus     237,000           No Wells Fargo Bank N.A. 8,767 11/30/25
27 SMF VI Pangea 15 153,000               No      
27.01 SMF VI 701 South Karlov Avenue                 No      
27.02 SMF VI 1236 South Lawndale Avenue                 No      
27.03 SMF VI 6125-6129 South Wabash Avenue                 No      
27.04 SMF VI 11932 South Stewart Avenue                 No      
27.05 SMF VI 7954 South Justine Street                 No      
27.06 SMF VI 10 West 137th Street                 No      
27.07 SMF VI 6715 South Dorchester Avenue                 No      
27.08 SMF VI 10201 South Saint Lawrence Avenue                 No      
27.09 SMF VI 5800-04 South Artesian Avenue                 No      
27.10 SMF VI 8201 South Drexel Avenue                 No      
27.11 SMF VI 7229 South Yates Boulevard                 No      
27.12 SMF VI 7653 South Loomis Boulevard                 No      
27.13 SMF VI 7700 South Carpenter Street                 No      
27.14 SMF VI 2062 135th Place                 No      
27.15 SMF VI 2066 135th Place                 No      
27.16 SMF VI 9600 South Avenue L                 No      
28 SMF VI The Shoppes at Letson Farms     650,000           No Piggly Wiggly 43,442 11/30/26
29 SMF VI Montgomery Triangle Gateway     500,000           No Stone Creek Dining Company 7,000 10/31/17
30 SMF VI Neilson Square 125,000   200,000           No Staples    19,192 04/30/22
31 SMF VI Studio City Apartments                 No      
32 SMF VI St. Albans & Camino Commons     150,000           No      
32.01 SMF VI Camino Commons                 No McDade School 5,889 07/31/20
32.02 SMF VI St. Albans Circle                 No ReMax 5,456 05/31/21
33 SMF VI Lake Geneva Commons                 No Aldi 18,866 03/16/32
34 SMF VI Hampton Inn & Suites Huntsville                 No      
35 SMF VI Holiday Inn Express Orangeburg 936,000               No      
36 SMF VI 3200 North Hayden     194,904           No Strickbine Publishing, Inc. 8,447 11/30/19
37 SMF VI Bellfort Village Apartments                 No      
38 SMF VI Courtyard Business Center                 No Oxford Academy at Sunrise 5,744 11/30/26
39 SMF VI Northgate Business Park III 69,984   233,241           No Signazon Corporation 20,900 01/31/18
40 SMF VI Aldine Plaza 12,996   125,000           No Dollar Tree 10,133 02/29/24
41 SMF VI Walgreens Cooper City                 Yes Walgreens 15,120 07/31/68
42 SMF VI North Star Terrace MHP                 No      
43 SMF VI Rite Aid Sugar Hill                 Yes Rite Aid 13,824 01/14/24

 

A-1-8 

 

 

ANNEX A-1

 

      2nd LARGEST TENANT (3), (18), (19), (20)   3rd LARGEST TENANT (3), (18), (19), (20)   4th LARGEST TENANT (3), (18), (19), (20)   5th LARGEST TENANT (3), (18), (19), (20)
                                   
          Lease       Lease       Lease       Lease
Loan # Seller(1) Property Name 2nd Largest Tenant Unit Size Expiration   3rd Largest Tenant Unit Size Expiration   4th Largest Tenant Unit Size Expiration   5th Largest Tenant Unit Size Expiration
1 JPMCB Hilton Hawaiian Village                              
2 JPMCB Moffett Gateway                              
3 JPMCB Dallas Design District Walter Lee Culp Associates, Inc. 30,650 10/31/28   David Sutherland, Inc. 29,937 05/31/23   Interior Design Collections, Ltd. 24,651 06/30/26   E.C. Dicken, Inc. 23,083 05/31/20
4 JPMCB Fresno Fashion Fair Mall Victoria’s Secret 14,530 01/31/27   Love Culture 14,135 10/31/20   Bank of the West 14,114 12/31/18   Anthropologie 10,928 10/31/17
5 JPMCB Riverway Central States Pension Fund 190,077 12/31/19   Culligan International Company 53,133 12/31/21   The NPD Group Inc. 38,917 03/31/20   Appleton GRP LLC 38,003 07/31/21
6 JPMCB 55 Hawthorne                              
7 JPMCB Bardmoor Palms HIT Promotional Products 76,648 11/30/22   National Forensic Science Technology Center 71,614 04/30/24   ThinkDirect Marketing 61,063 10/31/20   Renew Life Formulas, Inc. 54,100 02/29/20
8 JPMCB Landmark Square B and E Theaters LLC 50,247 05/31/21   Finn Dixon & Herling 26,385 12/31/32   Morgan Stanley Smith Barney 23,062 11/30/20   Blaire Corp. 21,840 06/30/25
9 JPMCB Centre Market Building Drug Enforcement Administration 89,469 06/30/23   US Social Security Administration 25,412 09/30/20   Cambridge Security 9,575 08/31/22        
10 JPMCB Courtyard Marriott - King Kamehameha                              
11 JPMCB Milton Park Pegasystems, Inc. 26,762 06/30/21   Northpoint Executive Suites 22,007 10/31/21   GE Capital 21,563 05/31/19   Graebel Relocation Services 18,187 07/31/19
12 JPMCB Reston EastPointe Blue Canopy, LLC 40,026 02/28/19   Vistronix, LLC 10,374 11/30/24   Acclaim Technical Services 7,241 06/30/25   Uptown Reston East, Inc 2,485 12/31/20
13 JPMCB Orchard Hill Park Dick’s Sporting Goods 52,900 01/31/21   Bed Bath & Beyond 26,718 01/31/21   Chili’s 5,756 10/31/20   Sleepy’s 3,360 11/30/22
14 JPMCB 11200 Rockville Pike Snyder Cohn PC 19,709 11/30/22   ASBMB 18,747 04/30/21   Capreit 14,934 12/31/21   Berlin, Ramos & Company, P.A. 11,929 11/30/19
15 JPMCB Marriott Galleria                              
16 JPMCB Royal Oaks Plaza Children’s Paradise Learning 8,600 11/30/21   The Billiard Club Inc. 7,504 12/31/19   Outback Steak House 6,487 11/30/18   Cancun Grill, Inc. 5,268 05/31/23
17 JPMCB Las Palmas CPS Energy 17,421 01/31/21   Fresenius 12,025 06/30/18   Texas EZ Pawn 11,900 06/30/22   Luby’s 11,100 07/31/20
18 SMF VI Liberty Center Regus National Business Centers 24,105 12/31/20   Rexair LLC 20,199 12/31/20   Farmers Insurance Exchange 14,645 09/30/20   Cornerstone Municipal 7,178 02/28/23
19 SMF VI Ocotillo Plaza 99 Cents Only 19,050 01/31/23   Auto Zone 6,000 04/30/20   Hollywood Furniture 4,913 07/09/17   Spin Cycle 4,383 01/31/20
20 JPMCB Gwinnett Commerce Center College Entrance Examination Board 20,259 10/31/18   Pension Financial Services, Inc. 13,432 09/30/18   Penske Truck Leasing Co., LLC 9,321 09/30/20   GSA Federal Energy Regulatory Commission 8,574 09/30/18
21 SMF VI Hilton Durham                              
22 JPMCB Woodglen Village                              
23 JPMCB Partridge Inn Augusta                              
24 JPMCB 4400 Dixie Highway Commonwealth, Inc. 128,000 02/28/18   Bentley World-Packaging, Ltd. 102,400 12/31/20   Metalworking Group Holdings Inc. 90,240 06/30/21   Wulco, Inc. 83,200 06/30/18
25 JPMCB TownePlace Suites Dallas Las Colinas                              
26 SMF VI 100 North Citrus Jason Bao & Xue Feng Gao 6,253 09/30/20   JMH Covina Holdings, Inc. 6,060 11/30/20   Lam Robinson & Company 5,674 08/31/17   Hospice MD, Inc. 4,188 04/30/18
27 SMF VI Pangea 15                              
27.01 SMF VI 701 South Karlov Avenue                              
27.02 SMF VI 1236 South Lawndale Avenue                              
27.03 SMF VI 6125-6129 South Wabash Avenue                              
27.04 SMF VI 11932 South Stewart Avenue                              
27.05 SMF VI 7954 South Justine Street                              
27.06 SMF VI 10 West 137th Street                              
27.07 SMF VI 6715 South Dorchester Avenue                              
27.08 SMF VI 10201 South Saint Lawrence Avenue                              
27.09 SMF VI 5800-04 South Artesian Avenue                              
27.10 SMF VI 8201 South Drexel Avenue                              
27.11 SMF VI 7229 South Yates Boulevard                              
27.12 SMF VI 7653 South Loomis Boulevard                              
27.13 SMF VI 7700 South Carpenter Street                              
27.14 SMF VI 2062 135th Place                              
27.15 SMF VI 2066 135th Place                              
27.16 SMF VI 9600 South Avenue L                              
28 SMF VI The Shoppes at Letson Farms San Antonio Grill 4,600 04/30/18   Brookwood Hospital Outpatient 3,450 03/31/22   Realty South 3,250 06/30/17   Jakes Soul Food 3,200 02/28/24
29 SMF VI Montgomery Triangle Gateway Woodhouse Day Spa 6,093 07/31/27   Centric Consulting 5,290 05/31/18   Green Diamond 4,821 12/31/19   Data Image (Rev Spring) 3,175 05/31/17
30 SMF VI Neilson Square Old Navy 12,381 07/31/20   Anytime Fitness 7,619 01/31/19   Petsense 5,040 08/31/20   CATO 4,160 01/31/21
31 SMF VI Studio City Apartments                              
32 SMF VI St. Albans & Camino Commons                              
32.01 SMF VI Camino Commons Edgemont Beverage 3,866 11/30/26   Post Office 3,789 11/30/21   Edgemont Auto 3,376 11/30/21   Ted’s Pool 3,123 02/28/19
32.02 SMF VI St. Albans Circle Professional Realty Advisors 3,594 01/31/27   Veterinary Hospital 3,063 09/30/26   Mi Sun Kim 2,683 06/30/26   Fit Tribe 1,837 05/31/20
33 SMF VI Lake Geneva Commons HomeGoods 18,224 09/30/25   Petco 14,279 01/31/23                
34 SMF VI Hampton Inn & Suites Huntsville                              
35 SMF VI Holiday Inn Express Orangeburg                              
36 SMF VI 3200 North Hayden Bennett & Porter Insurance Services LLC 6,783 12/31/21   Scottsdale Treatment 5,012 07/31/18   Thunderbird Collection Specialists 4,761 04/30/18   EZ-Links Golf LLC 4,243 05/31/22
37 SMF VI Bellfort Village Apartments                              
38 SMF VI Courtyard Business Center All Step Sales & Marketing Inc 2,871 05/31/21   800.com Inc 2,643 04/30/18   United Fire 2,600 01/31/18   Associated Credit Reporting, Inc. 2,400 01/31/18
39 SMF VI Northgate Business Park III Hives and Honey 10,222 05/31/20   Atkinson-Crawford Sales 9,575 06/30/19   Quality High Tech Services, Inc. 8,554 08/31/17   Selim’s Doener Kebap House 7,060 06/30/18
40 SMF VI Aldine Plaza Jefferson Dental 4,165 12/31/24   Tierra Caliente 4,000 03/31/21   Tacos La Bala 2,600 03/31/19   Sunrise Check Cash 1,650 06/30/23
41 SMF VI Walgreens Cooper City                              
42 SMF VI North Star Terrace MHP                              
43 SMF VI Rite Aid Sugar Hill                              

 

A-1-9 

 

 

ANNEX A-1

 

      Loan   Lockbox Lockbox
Loan # Seller(1) Property Name Purpose Principal / Carve-out Guarantor(21)  (Y/N)  Type(23)
1 JPMCB Hilton Hawaiian Village Refinance Park Intermediate Holdings LLC Yes CMA
2 JPMCB Moffett Gateway Refinance Joseph K. Paul, Jay Paul Revocable Living Trust Dated November 9, 1999, as Amended and Restated on March 19, 2010, Paul Guarantor LLC Yes Hard
3 JPMCB Dallas Design District Refinance Donald Engle, William L. Hutchinson Yes Hard
4 JPMCB Fresno Fashion Fair Mall Recapitalization The Macerich Partnership, L.P. Yes CMA
5 JPMCB Riverway Acquisition Adventus Holdings LP Yes CMA
6 JPMCB 55 Hawthorne Acquisition CIM Urban Income Investments, L.P. Yes CMA
7 JPMCB Bardmoor Palms Refinance Gary W. Harrod Yes CMA
8 JPMCB Landmark Square Refinance SL Green Operating Partnership, L.P. Yes CMA
9 JPMCB Centre Market Building Refinance Gerald S. Kaufman, B. Jeremy Kaufman Yes CMA
10 JPMCB Courtyard Marriott - King Kamehameha Refinance Invest West Financial Corporation Yes CMA
11 JPMCB Milton Park Acquisition Adventus Holdings LP Yes CMA
12 JPMCB Reston EastPointe Acquisition LPC Commercial Services, Inc. Yes Hard
13 JPMCB Orchard Hill Park Refinance Gregg P. Lisciotti Yes Hard
14 JPMCB 11200 Rockville Pike Acquisition William F. Peel, Barbara K. Peel Yes CMA
15 JPMCB Marriott Galleria Refinance WHI Real Estate Partners II, L.P., WHI Real Estate Partners II-PF, L.P., WHI Real Estate Partners II-TE, L.P., WHI Real Estate Partners III, L.P., WHI Real Estate Partners III-PF, L.P., WHI Real Estate Partners III-TE, L.P. Yes Springing
16 JPMCB Royal Oaks Plaza Refinance Alicia E. Nevarez, Ricardo A. Nevarez Yes Springing
17 JPMCB Las Palmas Refinance Robert B. Neely Yes Springing
18 SMF VI Liberty Center Refinance Thomas A. Duke, Jr. Yes Springing
19 SMF VI Ocotillo Plaza Refinance Michael Pashaie Yes Springing
20 JPMCB Gwinnett Commerce Center Acquisition Joseph Popack, Moshe Popack Yes Springing
21 SMF VI Hilton Durham Acquisition Driftwood Acquisition & Development L.P., Carlos J. Rodriguez, David Buddemeyer Yes CMA
22 JPMCB Woodglen Village Refinance Swapnil Agarwal Yes Springing
23 JPMCB Partridge Inn Augusta Refinance Richard M. Patton Yes CMA
24 JPMCB 4400 Dixie Highway Refinance Peter Murphy, Jonathan Stott, Peter O’Connor, Kevin Smith Yes CMA
25 JPMCB TownePlace Suites Dallas Las Colinas Acquisition Anthony Jon Sherman Yes CMA
26 SMF VI 100 North Citrus Refinance John Davenport, Thomas A. Herta, Jeffrey K. Nickell, Mark Valentine Yes Springing
27 SMF VI Pangea 15 Recapitalization Pangea Properties No None
27.01 SMF VI 701 South Karlov Avenue        
27.02 SMF VI 1236 South Lawndale Avenue        
27.03 SMF VI 6125-6129 South Wabash Avenue        
27.04 SMF VI 11932 South Stewart Avenue        
27.05 SMF VI 7954 South Justine Street        
27.06 SMF VI 10 West 137th Street        
27.07 SMF VI 6715 South Dorchester Avenue        
27.08 SMF VI 10201 South Saint Lawrence Avenue        
27.09 SMF VI 5800-04 South Artesian Avenue        
27.10 SMF VI 8201 South Drexel Avenue        
27.11 SMF VI 7229 South Yates Boulevard        
27.12 SMF VI 7653 South Loomis Boulevard        
27.13 SMF VI 7700 South Carpenter Street        
27.14 SMF VI 2062 135th Place        
27.15 SMF VI 2066 135th Place        
27.16 SMF VI 9600 South Avenue L        
28 SMF VI The Shoppes at Letson Farms Acquisition Daniel W. Samford, Thomas B. Miles, David F. Arnholt Yes Springing
29 SMF VI Montgomery Triangle Gateway Refinance William Heckman, Lisa Gabrielle Yes Springing
30 SMF VI Neilson Square Acquisition Alan Scott Mann, Nelson S. Billups Yes Springing
31 SMF VI Studio City Apartments Acquisition Ross Benedict Licata No None
32 SMF VI St. Albans & Camino Commons Refinance Timothy Patrick Dever, Vincent Placid Anastasi, Jr. Yes Springing
32.01 SMF VI Camino Commons        
32.02 SMF VI St. Albans Circle        
33 SMF VI Lake Geneva Commons Refinance Jacob Polatsek Yes Springing
34 SMF VI Hampton Inn & Suites Huntsville Refinance Amirali Zindani Yes Springing
35 SMF VI Holiday Inn Express Orangeburg Refinance Sudhir D. Patel, Hemalata S. Patel Yes Springing
36 SMF VI 3200 North Hayden Acquisition Harjinder Singh, Harbans Singh Yes Springing
37 SMF VI Bellfort Village Apartments Refinance Shafqat Ali Yes Springing
38 SMF VI Courtyard Business Center Refinance Joseph Vitolo Yes Springing
39 SMF VI Northgate Business Park III Acquisition Jeffrey Katke, Daniel Culler, Richard Kent Yes Springing
40 SMF VI Aldine Plaza Refinance Danny A. Kuperman, Mervyn Blieden Yes Springing
41 SMF VI Walgreens Cooper City Acquisition Bela Bako, Annika Bako Yes CMA
42 SMF VI North Star Terrace MHP Acquisition Jefferson Damon Lilly, Bradley Johnson Yes Springing
43 SMF VI Rite Aid Sugar Hill Acquisition Frederick Stein Yes Springing

 

A-1-10 

 

 

ANNEX A-1

 

      Pari Passu Debt   Additional Debt(24)   Total Debt
        Pari Passu Pari Passu Pari Passu Total Cut-off         Additional       Total Debt   Total Debt
      Pari Passu Note Control Piece  In Trust Piece Non Trust Date Pari   Addit Debt Addit Debt Additional Debt Cut off Additional Debt   Total Debt  UW NCF Total Debt  UW NOI
Loan # Seller(1) Property Name (Y/N) (Y/N) Cut-Off Balance Cut-Off Balance Passu Debt   Permitted (Y/N) Exist (Y/N) (24) Debt Type(s) Date Balance Interest Rate    Cut-off Balance  DSCR Current LTV %  Debt Yield %
1 JPMCB Hilton Hawaiian Village Yes No 80,000,000 616,600,000 696,600,000   No Yes Subordinate Debt 578,400,000 4.19950   1,275,000,000 2.44 57.2% 10.4%
2 JPMCB Moffett Gateway Yes No 80,000,000 163,000,000 243,000,000   No Yes B-Note (102,000,000)/Mezzanine Loan (50,000,000) 152,000,000 5.44408   395,000,000 1.22 75.2% 7.3%
3 JPMCB Dallas Design District Yes Yes 75,000,000 45,000,000 120,000,000   No No NAP NAP NAP   120,000,000 1.28 62.1% 9.4%
4 JPMCB Fresno Fashion Fair Mall Yes No 69,000,000 256,000,000 325,000,000   No No NAP NAP NAP   325,000,000 2.19 57.5% 8.3%
5 JPMCB Riverway Yes No 64,763,123 62,770,411 127,533,534   No No NAP NAP NAP   127,533,534 1.42 72.4% 10.3%
6 JPMCB 55 Hawthorne No NAP NAP NAP NAP   Yes No Permitted Mezzanine NAP NAP   NAP NAP NAP NAP
7 JPMCB Bardmoor Palms No NAP NAP NAP NAP   No No NAP NAP NAP   NAP NAP NAP NAP
8 JPMCB Landmark Square Yes Yes 51,000,000 49,000,000 100,000,000   Yes No Permitted Mezzanine NAP NAP   100,000,000 2.19 56.9% 12.0%
9 JPMCB Centre Market Building No NAP NAP NAP NAP   No No NAP NAP NAP   NAP NAP NAP NAP
10 JPMCB Courtyard Marriott - King Kamehameha No NAP NAP NAP NAP   Yes Yes B-Note/Permitted Mezzanine 14,979,397 8.00000   54,924,454 1.94 41.3% 13.5%
11 JPMCB Milton Park No NAP NAP NAP NAP   No No NAP NAP NAP   NAP NAP NAP NAP
12 JPMCB Reston EastPointe No NAP NAP NAP NAP   Yes No Permitted Mezzanine NAP NAP   NAP NAP NAP NAP
13 JPMCB Orchard Hill Park No NAP NAP NAP NAP   No No NAP NAP NAP   NAP NAP NAP NAP
14 JPMCB 11200 Rockville Pike No NAP NAP NAP NAP   No No NAP NAP NAP   NAP NAP NAP NAP
15 JPMCB Marriott Galleria No NAP NAP NAP NAP   No No NAP NAP NAP   NAP NAP NAP NAP
16 JPMCB Royal Oaks Plaza No NAP NAP NAP NAP   No No NAP NAP NAP   NAP NAP NAP NAP
17 JPMCB Las Palmas No NAP NAP NAP NAP   No No NAP NAP NAP   NAP NAP NAP NAP
18 SMF VI Liberty Center No NAP NAP NAP NAP   Yes No Permitted Mezzanine NAP NAP   NAP NAP NAP NAP
19 SMF VI Ocotillo Plaza No NAP NAP NAP NAP   No No NAP NAP NAP   NAP NAP NAP NAP
20 JPMCB Gwinnett Commerce Center No NAP NAP NAP NAP   No No NAP NAP NAP   NAP NAP NAP NAP
21 SMF VI Hilton Durham No NAP NAP NAP NAP   Yes No Permitted Mezzanine NAP NAP   NAP NAP NAP NAP
22 JPMCB Woodglen Village No NAP NAP NAP NAP   No No NAP NAP NAP   NAP NAP NAP NAP
23 JPMCB Partridge Inn Augusta No NAP NAP NAP NAP   No No NAP NAP NAP   NAP NAP NAP NAP
24 JPMCB 4400 Dixie Highway No NAP NAP NAP NAP   No No NAP NAP NAP   NAP NAP NAP NAP
25 JPMCB TownePlace Suites Dallas Las Colinas No NAP NAP NAP NAP   No No NAP NAP NAP   NAP NAP NAP NAP
26 SMF VI 100 North Citrus No NAP NAP NAP NAP   No No NAP NAP NAP   NAP NAP NAP NAP
27 SMF VI Pangea 15 No NAP NAP NAP NAP   Yes No Permitted Mezzanine NAP NAP   NAP NAP NAP NAP
27.01 SMF VI 701 South Karlov Avenue                           NAP NAP NAP
27.02 SMF VI 1236 South Lawndale Avenue                           NAP NAP NAP
27.03 SMF VI 6125-6129 South Wabash Avenue                           NAP NAP NAP
27.04 SMF VI 11932 South Stewart Avenue                           NAP NAP NAP
27.05 SMF VI 7954 South Justine Street                           NAP NAP NAP
27.06 SMF VI 10 West 137th Street                           NAP NAP NAP
27.07 SMF VI 6715 South Dorchester Avenue                           NAP NAP NAP
27.08 SMF VI 10201 South Saint Lawrence Avenue                           NAP NAP NAP
27.09 SMF VI 5800-04 South Artesian Avenue                           NAP NAP NAP
27.10 SMF VI 8201 South Drexel Avenue                           NAP NAP NAP
27.11 SMF VI 7229 South Yates Boulevard                           NAP NAP NAP
27.12 SMF VI 7653 South Loomis Boulevard                           NAP NAP NAP
27.13 SMF VI 7700 South Carpenter Street                           NAP NAP NAP
27.14 SMF VI 2062 135th Place                           NAP NAP NAP
27.15 SMF VI 2066 135th Place                           NAP NAP NAP
27.16 SMF VI 9600 South Avenue L                           NAP NAP NAP
28 SMF VI The Shoppes at Letson Farms No NAP NAP NAP NAP   No No NAP NAP NAP   NAP NAP NAP NAP
29 SMF VI Montgomery Triangle Gateway No NAP NAP NAP NAP   No No NAP NAP NAP   NAP NAP NAP NAP
30 SMF VI Neilson Square No NAP NAP NAP NAP   No No NAP NAP NAP   NAP NAP NAP NAP
31 SMF VI Studio City Apartments No NAP NAP NAP NAP   Yes No Permitted Mezzanine NAP NAP   NAP NAP NAP NAP
32 SMF VI St. Albans & Camino Commons No NAP NAP NAP NAP   No No NAP NAP NAP   NAP NAP NAP NAP
32.01 SMF VI Camino Commons                           NAP NAP NAP
32.02 SMF VI St. Albans Circle                           NAP NAP NAP
33 SMF VI Lake Geneva Commons No NAP NAP NAP NAP   No No NAP NAP NAP   NAP NAP NAP NAP
34 SMF VI Hampton Inn & Suites Huntsville No NAP NAP NAP NAP   No No NAP NAP NAP   NAP NAP NAP NAP
35 SMF VI Holiday Inn Express Orangeburg No NAP NAP NAP NAP   No No NAP NAP NAP   NAP NAP NAP NAP
36 SMF VI 3200 North Hayden No NAP NAP NAP NAP   No No NAP NAP NAP   NAP NAP NAP NAP
37 SMF VI Bellfort Village Apartments No NAP NAP NAP NAP   No No NAP NAP NAP   NAP NAP NAP NAP
38 SMF VI Courtyard Business Center No NAP NAP NAP NAP   No No NAP NAP NAP   NAP NAP NAP NAP
39 SMF VI Northgate Business Park III No NAP NAP NAP NAP   No No NAP NAP NAP   NAP NAP NAP NAP
40 SMF VI Aldine Plaza No NAP NAP NAP NAP   No No NAP NAP NAP   NAP NAP NAP NAP
41 SMF VI Walgreens Cooper City No NAP NAP NAP NAP   No No NAP NAP NAP   NAP NAP NAP NAP
42 SMF VI North Star Terrace MHP No NAP NAP NAP NAP   No No NAP NAP NAP   NAP NAP NAP NAP
43 SMF VI Rite Aid Sugar Hill No NAP NAP NAP NAP   No No NAP NAP NAP   NAP NAP NAP NAP

 

A-1-11 

 

 

ANNEX A-1

 

      HOTEL OPERATING STATISTICS    
                                       
      2013 2013 2013 2014 2014 2014 2015 2015 2015 Most Recent Most Recent Most Recent UW UW UW    
Loan # Seller(1) Property Name Occupancy %  ADR ($)  RevPAR ($)  Occupancy %  ADR ($)  RevPAR ($)  Occupancy %  ADR ($)  RevPAR ($)  Occupancy %  ADR ($)  RevPAR ($) Occupancy %  ADR ($)  RevPAR ($) Loan #  
1 JPMCB Hilton Hawaiian Village 89.9% 247.48 222.57 90.7% 259.85 235.77 94.4% 240.62 227.20 94.6% 250.09 236.65 94.6% 250.09 236.65 1  
2 JPMCB Moffett Gateway                               2  
3 JPMCB Dallas Design District                               3  
4 JPMCB Fresno Fashion Fair Mall                               4  
5 JPMCB Riverway                               5  
6 JPMCB 55 Hawthorne                               6  
7 JPMCB Bardmoor Palms                               7  
8 JPMCB Landmark Square                               8  
9 JPMCB Centre Market Building                               9  
10 JPMCB Courtyard Marriott - King Kamehameha 81.2% 131.64 106.95 84.3% 138.94 117.06 83.8% 146.13 122.41 85.1% 152.16 129.41 85.1% 152.16 129.42 10  
11 JPMCB Milton Park                               11  
12 JPMCB Reston EastPointe                               12  
13 JPMCB Orchard Hill Park                               13  
14 JPMCB 11200 Rockville Pike                               14  
15 JPMCB Marriott Galleria 66.7% 163.15 108.82 68.6% 160.17 109.90 74.7% 149.78 111.85 68.3% 149.77 102.22 68.3% 149.77 102.22 15  
16 JPMCB Royal Oaks Plaza                               16  
17 JPMCB Las Palmas                               17  
18 SMF VI Liberty Center                               18  
19 SMF VI Ocotillo Plaza                               19  
20 JPMCB Gwinnett Commerce Center                               20  
21 SMF VI Hilton Durham 64.4% 118.08 76.03 68.6% 117.43 80.52 72.5% 119.23 86.49 69.2% 120.62 83.52 69.2% 120.62 83.52 21  
22 JPMCB Woodglen Village                               22  
23 JPMCB Partridge Inn Augusta 33.9% 144.19 48.82 38.0% 143.96 54.71 38.2% 147.94 56.51 60.9% 145.89 88.85 60.9% 145.89 88.85 23  
24 JPMCB 4400 Dixie Highway                               24  
25 JPMCB TownePlace Suites Dallas Las Colinas 70.8% 81.55 57.71 65.0% 90.26 58.66 74.6% 98.09 73.22 76.7% 100.36 77.01 76.7% 100.36 77.01 25  
26 SMF VI 100 North Citrus                               26  
27 SMF VI Pangea 15                               27  
27.01 SMF VI 701 South Karlov Avenue                               27.01  
27.02 SMF VI 1236 South Lawndale Avenue                               27.02  
27.03 SMF VI 6125-6129 South Wabash Avenue                               27.03  
27.04 SMF VI 11932 South Stewart Avenue                               27.04  
27.05 SMF VI 7954 South Justine Street                               27.05  
27.06 SMF VI 10 West 137th Street                               27.06  
27.07 SMF VI 6715 South Dorchester Avenue                               27.07  
27.08 SMF VI 10201 South Saint Lawrence Avenue                               27.08  
27.09 SMF VI 5800-04 South Artesian Avenue                               27.09  
27.10 SMF VI 8201 South Drexel Avenue                               27.10  
27.11 SMF VI 7229 South Yates Boulevard                               27.11  
27.12 SMF VI 7653 South Loomis Boulevard                               27.12  
27.13 SMF VI 7700 South Carpenter Street                               27.13  
27.14 SMF VI 2062 135th Place                               27.14  
27.15 SMF VI 2066 135th Place                               27.15  
27.16 SMF VI 9600 South Avenue L                               27.16  
28 SMF VI The Shoppes at Letson Farms                               28  
29 SMF VI Montgomery Triangle Gateway                               29  
30 SMF VI Neilson Square                               30  
31 SMF VI Studio City Apartments                               31  
32 SMF VI St. Albans & Camino Commons                               32  
32.01 SMF VI Camino Commons                               32.01  
32.02 SMF VI St. Albans Circle                               32.02  
33 SMF VI Lake Geneva Commons                               33  
34 SMF VI Hampton Inn & Suites Huntsville                   64.7% 118.67 76.78 64.7% 118.67 76.78 34  
35 SMF VI Holiday Inn Express Orangeburg 77.6% 95.56 74.15 87.8% 98.97 86.89 79.5% 107.04 85.10 79.2% 111.09 87.98 79.2% 111.09 87.98 35  
36 SMF VI 3200 North Hayden                               36  
37 SMF VI Bellfort Village Apartments                               37  
38 SMF VI Courtyard Business Center                               38  
39 SMF VI Northgate Business Park III                               39  
40 SMF VI Aldine Plaza                               40  
41 SMF VI Walgreens Cooper City                               41  
42 SMF VI North Star Terrace MHP                               42  
43 SMF VI Rite Aid Sugar Hill                               43  

 

A-1-12 

 

 

JPMCC Commercial Mortgage Securities 2017-JP5
Footnotes to Annex A-1
   
(1) “JPMCB” denotes JPMorgan Chase Bank, National Association, as Mortgage Loan Seller; and “SMF VI” denotes Starwood Mortgage Funding VI LLC, as Mortgage Loan Seller.
   
  With respect to Loan No. 1, Hilton Hawaiian Village, the Hilton Hawaiian Village Whole Loan (as defined below) was co-originated by JPMCB, Deutsche Bank AG, New York Branch, Goldman Sachs Mortgage Company, Barclays Bank PLC and Morgan Stanley Bank, N.A.
   
  With respect to Loan No. 4, Fresno Fashion Fair Mall, the Fresno Fashion Fair Mall Whole Loan (as defined below) was co-originated by JPMCB and Société Générale.
   
(2) Certain of the mortgage loans include parcels ground leased to tenants in the calculation of the total square footage and the occupancy of the mortgaged property.
   
  With respect to Loan No. 1, Hilton Hawaiian Village, the mortgaged property includes 14 hotel units and 26 commercial units of a condominium. The remaining units in the condominium consist of six time share units, which are owned by third parties and not part of collateral for the mortgage loan. The borrower controls the related board of directors for the association and is responsible for maintaining the common areas of the condominium.
   
  With respect to Loan No. 4, Fresno Fashion Fair Mall, BJ’s Restaurant, Chick-fil-A and Fleming’s ground lease their premises from the borrower. Chick-fil-A ground leases its premises through February 2035 and pays annual ground rent of $120,000. BJ’s Restaurant ground leases its premises through May 2024 and pays annual ground rent of $121,000. Fleming’s ground leases its premises through May 2021 and pays annual ground rent of $102,850.
   
  With respect to Loan No. 5, Riverway, the mortgaged property consists of three, 11-story multi-tenant office buildings totaling 858,711 square feet and one daycare facility totaling 10,409 square feet. The daycare facility is 100% leased to Bright Horizons under a lease that expires in March 2027. Bright Horizons also has the right to terminate the lease annually on each anniversary of the lease commencement date.
   
  With respect to Loan No. 13, Orchard Hill Park, Chili’s ground leases its premises from the borrowers. Chili’s ground leases its premises through October 2020 and pays annual ground rent of $137,500.
   
(3) In certain cases, mortgaged properties may have tenants that have executed leases that were included in the underwriting but have not yet commenced paying rent and/or are not in occupancy.
   
  With respect to Loan No. 1, Hilton Hawaiian Village, approximately 18.4% of UW Revenues ($) is attributable to the food and beverage outlets at the mortgaged property and approximately 5.1% of UW Revenues ($) is attributable to the retail component of the mortgaged property.
   
  With respect to Loan No. 2, Moffett Gateway, Occupancy %, UW Revenues ($), UW NOI ($) and UW NCF ($) include the sole tenant, Google, which has executed its leases but has not yet taken occupancy or commenced paying rent under either lease. Google leases the mortgaged property under two separate leases, one for 1225 Crossman Avenue (“Building One”) and the second for 1265 Crossman Avenue (“Building Two”). According to the loan sponsor, Google is expected to take occupancy of both spaces by September 2017 and, subsequent to any applicable free rent periods, will commence paying rent under each lease as follows: Building One in July 2018 and Building Two in July 2017. In addition, UW Revenues ($), UW NOI ($) and UW NCF ($) are calculated using the average rent of the sole tenant, Google, over the term of the related leases inclusive of the free rent reserve.
   
  With respect to Loan No. 3, Dallas Design District, Occupancy %, UW Revenues ($), UW NOI ($) and UW NCF ($) include three tenants, Janus et Cie, Interior Specifics LLC and Codarus, which have executed leases but have not yet taken occupancy or commenced paying rent.
   
  With respect to Loan No. 4, Fresno Fashion Fair Mall, Occupancy % includes only permanent leases. Occupancy % including specialty tenants with leases over six months for December 31, 2013, December 31, 2014, December 31, 2015 and January 31, 2017 is 96.8%, 98.4%, 98.1% and 92.2%, respectively.
   
  With respect to Loan No. 4, Fresno Fashion Fair Mall, the borrower is permitted to engage in several redevelopment activities at the mortgaged property under the loan documents. If there is any decrease in underwritten net operating income (as defined in the loan documents) as a result of the redevelopment activities (including as the result of any modification or termination of the Macy’s Men’s & Children’s or JCPenney leases), then the borrower is required to enter into a master lease with the guarantor for all such applicable space and all then vacant space at the mortgaged property. The loan documents provide that rent will be reduced if and to the extent underwritten net operating income with respect to the mortgaged property increases, as determined on a quarterly basis. With respect to any termination of the Macy’s Men’s & Children’s lease or JCPenney lease, the master lease will terminate if: (x) the underwritten net operating income with respect to the mortgaged property is restored to the greater of (i) pre-development levels and (ii) $27,000,000 and (y) the areas impacted by such redevelopment activities are 90% or more occupied with tenants in possession and paying rent. With respect to any modification of the Macy’s Men’s & Children’s lease

 

A-1-13 

 

 

  and/or the JCPenney lease resulting in a decrease in underwritten net operating income, the master lease will terminate when the underwritten net operating income is restored to the greater of (i) pre-modification levels or (ii) $27,000,000.
   
  With respect to Loan No. 6, 55 Hawthorne, approximately 11.1% of UW Revenues ($) is attributable to a 272-stall five-level parking garage located at the mortgaged property.
   
  With respect to Loan No. 7, Bardmoor Palms, UW Revenues ($), UW NOI ($) and UW NCF ($) are calculated using the average rent steps through the termination options of the Largest Tenant, Allstate.
   
  With respect to Loan No. 9, Centre Market Building, UW Revenues ($), UW NOI ($) and UW NCF ($) are calculated using the average rent of the Largest Tenant, the US Customs and Border Protection, over the term of the related lease.
   
  With respect to Loan No. 10, Courtyard Marriott - King Kamehameha, approximately 21.6%, 4.2% and 2.7% of UW Revenues ($) are attributable to the food and beverage outlets, the self and valet parking and the retail component of the mortgaged property, respectively.
   
  With respect to Loan No. 14, 11200 Rockville Pike, approximately 8.3% of UW Revenues ($) is attributable to a three-level subterranean parking garage with 425 parking spaces located at the mortgaged property.
   
  With respect to Loan No. 15, Marriott Galleria, approximately 25.5% of UW Revenues ($) is attributable to the food and beverage outlet at the mortgaged property.
   
  With respect to Loan No. 23, Partridge Inn Augusta, approximately 26.9% of UW Revenues ($) is attributable to the food and beverage outlets at the mortgaged property.
   
  With respect to Loan No. 28, The Shoppes at Letson Farms, the 5th Largest Tenant, Jakes Soul Food, has executed a lease, has taken possession of the leased premises and is expected to open for business in April 2017. Jakes Soul Food is expected to commence paying rent on the earlier of (i) the opening date for business or (ii) 120 days after the landlord has tendered possession of the leased premises to the tenant.
   
  With respect to Loan No. 33, Lake Geneva Commons, the Largest Tenant, Aldi, has executed a lease and is currently building out the related space. Build-out is expected to be completed by March 2017. Aldi will commence paying rent on the earlier of (i) the opening date for business or (ii) March 13, 2017.
   
(4) With respect to all mortgage loans, with the exceptions of the mortgage loans listed below, the Current LTV % and the Maturity LTV % are based on the “as-is” Appraisal Value ($) even though, for certain mortgage loans, the appraiser provided “as-stabilized” values based on certain criteria being met.
   
  With respect to Loan No. 2, Moffett Gateway, the Appraised Value ($) represents the “Hypothetical Value As-Stabilized” value of $525,000,000, which assumes that all tenant improvement construction is complete and all contractual free rent obligations have burned off as of the stabilized value date of July 20, 2016. At origination, the borrower was required to reserve $43,642,904 into the Upfront Other Reserve ($) for outstanding tenant improvements, $5,743,978 for outstanding leasing commissions and $37,575,033 for outstanding free rent. The “as-is” value as of July 20, 2016 was $430,000,000, which results in a Current LTV % and Maturity LTV % of 56.5% and 48.0%, respectively.
   
  With respect to Loan No. 12, Reston EastPointe, the Appraised Value ($) represents the “Hypothetical As-Is” value of $61,200,000, which assumes that the costs for re-leasing certain vacant space at the mortgaged property has been paid or reserved. At origination, the borrower was required to reserve $1,150,000 for future tenant improvements and leasing commissions and $2,000,000 for tenant improvements and leasing commissions related to the vacant space at the mortgaged property. The “as-is” value as of October 5, 2016 is $58,000,000, which results in a Current LTV % and Maturity LTV % of 65.5%.
   
  With respect to Loan No. 21, Hilton Durham, the Appraised Value ($) represents the “Hypothetical Market Value As-Is” value of $25,300,000, which assumes that the property improvement plan (“PIP”) required by the related franchise agreement in connection with the borrower’s acquisition of the mortgaged property was completed as of December 1, 2016.  At origination, the borrower was required to reserve $3,202,753 for the related PIP. The “as-is” value as of December 1, 2016 is $23,000,000, which results in a Current LTV % and Maturity LTV % of 71.6% and 59.0%, respectively.
   
(5) For mortgage loans secured by multiple mortgaged properties, each mortgage loan’s Original Balance ($), Current Balance ($) and Maturity Balance ($) are allocated to the respective mortgaged property based on the mortgage loan’s documentation, or if no such allocation is provided in the mortgage loan documentation, the mortgage loan seller’s determination of the appropriate allocation.
   
(6) With respect to Loan No. 1, Hilton Hawaiian Village, the mortgage loan is part of a whole loan with an original principal balance of $1,275,000,000 (the “Hilton Hawaiian Village Whole Loan”), which is comprised of 16 pari passu components (Note A-1-A, Note A-1-B, Note A-1-C, Note A-1-D, Note A-1-E, Note A-2-A-1, Note A-2-A-2, Note A-2-A-3, Note A-2-A-4, Note A-2-B-1, Note A-2-B-2, Note A-2-B-3, Note A-2-D-1, Note A-2-D-2, Note A-2-E-1 and Note A-2-E-2) and five subordinate companion loans (Note B-1, Note B-2, Note B-3, Note B-4 and Note B-5). Note A-2-A-2 has an outstanding principal balance as of the Cut-off Date of $80,000,000 and is being contributed to the JPMCC 2017-JP5 Trust. Notes A-2-A-1, A-2-B-1, A-2-D-1, A-2-D-2, A-2-

 

A-1-14 

 

 

  E-1, A-2-E-2 and A-2-B-3, with an aggregate outstanding principal balance as of the Cut-off Date of $326,125,000, have been contributed to other securitization trusts. Notes A-1-A, A-1-B, A-1-C, A-1-D and A-1-E, with an aggregate outstanding principal balance as of the Cut-off Date of $171,600,000, and the subordinate companion loans with an aggregate outstanding principal balance as of the Cut-off Date of $578,400,000, were contributed to a private securitization trust. The remaining three pari passu components have an aggregate outstanding principal balance as of the Cut-off Date of $118,875,000 and are expected to be contributed to one or more future securitization trusts. All loan level metrics are based on the Hilton Hawaiian Village Whole Loan balance excluding the subordinate companion loans.
   
  With respect to Loan No. 2, Moffett Gateway, the mortgage loan is part of a whole loan with an original principal balance of $345,000,000 (the “Moffett Gateway Whole Loan”) which is comprised of five pari passu components (Note A-1, Note A-2, Note A-3, Note A-4 and Note A-5) and one subordinate companion loan (Note B-1). Note A-1 has an outstanding principal balance as of the Cut-off Date of $80,000,000 and is being contributed to the JPMCC 2017-JP5 Trust. Note A-2 has an outstanding principal balance as of the Cut-off Date of $60,000,000 and was contributed to the JPMCC 2016-JP4 trust. Note A-5 has an outstanding principal balance as of the Cut-off Date of $43,000,000 and was contributed to the JPMDB 2016-C4 trust. Note A-3 and Note A-4 have an aggregate outstanding principal balance as of the Cut-off Date of $60,000,000 and are expected to be contributed to one or more future securitization trusts. Note B-1 has an outstanding balance as of the Cut-off Date of $102,000,000 and was sold to a third-party investor. All loan level metrics are based on the Moffett Gateway Whole Loan balance excluding the subordinate companion loan.
   
  With respect to Loan No. 3, Dallas Design District, the mortgage loan is part of a whole loan with an original principal balance of $120,000,000 (the “Dallas Design District Whole Loan”) which is comprised of two pari passu components (Note A-1 and Note A-2). Note A-1 has an outstanding principal balance as of the Cut-off Date of $75,000,000 and is being contributed to the JPMCC 2017-JP5 Trust. Note A-2 has an outstanding principal balance as of the Cut-off Date of $45,000,000 and is expected to be contributed to one or more future securitization trusts. All loan level metrics are based on the Dallas Design District Whole Loan balance.
   
  With respect to Loan No. 4, Fresno Fashion Fair Mall, the mortgage loan is part of a whole loan with an original principal balance of $325,000,000 (the “Fresno Fashion Fair Mall Whole Loan”) which is comprised of seven pari passu components. Note A-1-C has an outstanding principal balance as of the Cut-off Date of $69,000,000 and is being contributed to the JPMCC 2017-JP5 Trust. Note A-1-B has an outstanding principal balance as of the Cut-off Date of $80,000,000 and was contributed to the JPMCC 2016-JP4 trust. Note A-1-A has an outstanding principal balance as of the Cut-off Date of $60,000,000 and was contributed to the JPMDB 2016-C4 trust. Note A-2-A has an outstanding principal balance as of the Cut-off Date of $40,000,000 and was contributed to the CFCRE 2016-C6 trust. Note A-2-B and Note A-2-D have an aggregate outstanding principal balance as of the Cut-off Date of $41,000,000 and were contributed to the CFCRE 2016-C7 trust. Note A-2-C has an outstanding principal balance as of the Cut-off Date of $35,000,000 and was contributed to the CGCMT 2016-P6 trust. All loan level metrics are based on the Fresno Fashion Fair Mall Whole Loan balance.
   
  With respect to Loan No. 5, Riverway, the mortgage loan is part of a whole loan with an original principal balance of $128,000,000 (the “Riverway Whole Loan”) which is comprised of two pari passu components (Note A-1 and Note A-2). Note A-2 has an outstanding principal balance as of the Cut-off Date of $62,770,411 and was contributed to the JPMCC 2016-JP4 trust. Note A-1 has an outstanding principal balance as of the Cut-off Date of $64,763,123 and is being contributed to the JPMCC 2017-JP5 Trust. All loan level metrics are based on the Riverway Whole Loan balance.
   
  With respect to Loan No. 8, Landmark Square, the mortgage loan is part of a whole loan with an original principal balance of $100,000,000 (the “Landmark Square Whole Loan”) which is comprised of two pari passu components (Note A-1 and Note A-2). Note A-1 has an outstanding principal balance as of the Cut-off Date of $51,000,000 and is being contributed to the JPMCC 2017-JP5 Trust. Note A-2 has an outstanding principal balance as of the Cut-off Date of $49,000,000 and is expected to be contributed to one or more future securitization trusts. All loan level metrics are based on the Landmark Square Whole Loan balance.
   
  With respect to Loan No. 10, Courtyard Marriott - King Kamehameha, the mortgage loan is part of a whole loan with an original principal balance of $55,000,000 (the “Courtyard Marriott - King Kamehameha Whole Loan”) which is comprised of a senior Note A and one subordinate Note B. Note A has an outstanding principal balance as of the Cut-off Date of $39,945,058 and is being contributed to the JPMCC 2017-JP5 Trust. Note B has an outstanding principal balance as of the Cut-off Date of $14,979,397 and was sold to a third-party investor. All loan level metrics are based on the Courtyard Marriott - King Kamehameha Whole Loan balance excluding Note B.
   
(7) Each number identifies a group of related borrowers.
   
  With respect to Loan No. 3, Dallas Design District, two of the borrowers own the majority of the mortgaged property as tenants-in-common. The third borrower, 1500 Dragon Dunhill LLC, owns the fee interest to its parcel located at 1500 Dragon Street, Dallas, Texas.
   
  With respect to Loan No. 30, Neilson Square, the borrowers own the mortgaged property as tenants-in-common.
   
(8) For each mortgage loan, the excess of the related Interest Rate % over the related Servicing Fee Rate, the Trustee Fee Rate (including the Certificate Administrator Fee Rate), the Operating Advisor Fee Rate, the Asset Representations Reviewer Fee Rate and the CREFC® Intellectual Property Royalty License Fee Rate (collectively, the “Admin Fee %”).

 

A-1-15 

 

 

(9) For the mortgage loans that are interest-only for the entire term and accrue interest on an Actual/360 basis, the Monthly Debt Service ($) was calculated as 1/12th of the product of (i) the Original Balance ($), (ii) the Interest Rate % and (iii) 365/360.
   
  With respect to Loan No. 33, Lake Geneva Commons, the mortgage loan has a 10-year term, amortizes over a 30-year schedule, with the final 24-months of the loan term being interest only.
   
(10) With respect to all mortgage loans, except for the mortgage loan(s) listed below, Annual Debt Service ($) is calculated by multiplying the Monthly Debt Service ($) by 12.
   
  With respect to Loan No. 2, Moffett Gateway, the Annual Debt Service ($) is calculated based on the sum of the first 12 principal and interest payments after the expiration of the interest-only period based on the assumed principal payment schedule set forth on Annex F to this Preliminary Prospectus. As such, the Current Balance ($), Maturity Balance ($), Monthly Debt Service ($), UW NOI DSCR and UW NCF DSCR all reflect this principal payment schedule and a fixed interest rate of 3.319403%.
   
  With respect to Loan No. 10, Courtyard Marriott - King Kamehameha, the Annual Debt Service ($) is calculated based on the sum of the first 12 principal and interest payments allocable to the mortgage loan following the Cut-off Date and is based on a pro rata allocation between the A-Note and Subordinate Companion Loan of principal payable on the Courtyard Marriott - King Kamehameha Whole Loan. The assumed principal payment schedule set forth on Annex G to this Preliminary Prospectus. As such, the Current Balance ($), Maturity Balance ($), Monthly Debt Service ($), UW NOI DSCR and UW NCF DSCR all reflect this principal payment schedule and a fixed interest rate of 4.81000%.
   
(11) The “L” component of the prepayment provision represents lockout payments.
  The “Def” component of the prepayment provision represents defeasance payments.
  The “YM” component of the prepayment provision represents yield maintenance payments.
  The “O” Component of the prepayment provision represents the free payments including the Maturity Date.
   
  With respect to Loan No. 1, Hilton Hawaiian Village, the lockout period will be at least 28 payments beginning with and including the first payment on December 1, 2016. Defeasance of the full $1,275,00,000 Hilton Hawaiian Village Whole Loan is permitted after the earlier to occur of (i) May 1, 2019 and (ii) the date that is two years from the closing date of the securitization that includes the last note to be securitized (the “Hilton Hawaiian Village Defeasance Date”). Following the expiration of the Hilton Hawaiian Village Defeasance Date, the borrower is also permitted to prepay the Hilton Hawaiian Village Whole Loan (in whole but not in part) with the payment of a yield maintenance premium. The assumed lockout period is based on the expected JPMCC 2017-JP5 securitization closing date in March 2017. The actual lockout period may be longer.
   
  With respect to Loan No. 2, Moffett Gateway, the lockout period will be at least 29 payments beginning with and including the first payment on November 1, 2016. Defeasance of the full $345.0 million Moffett Gateway Whole Loan is permitted after the date that is two years from the closing date of the securitization that includes the last note to be securitized (the “Moffett Gateway Defeasance Date”). If the Moffett Gateway Defeasance Date has not occurred by November 1, 2020, the borrower is permitted to prepay the Moffett Gateway Whole Loan (in whole but not in part) with the payment of a yield maintenance premium. The assumed lockout period is based on the expected JPMCC 2017-JP5 securitization closing date in March 2017. The actual lockout period may be longer.
   
  With respect to Loan No. 8, Landmark Square, the lockout period will be at least 26 payments beginning with and including the first payment on February 1, 2017. Defeasance of the full $100.0 million Landmark Square Whole Loan is permitted after the date that is the earlier of (i) two years from the closing date of the securitization that includes the last note to be securitized and (ii) February 1, 2020. The assumed lockout period is based on the expected JPMCC 2017-JP5 securitization closing date in March 2017. The actual lockout period may be longer.
   
  With respect to Loan No. 32, St. Albans & Camino Commons, the borrowers are permitted to release an individual mortgaged property after the expiration of the applicable lockout period in connection with a partial defeasance (no earlier than two years from the closing date), subject to, among other things, the following conditions: (i) no event of default or loan trigger event has occurred and is continuing, (ii) the borrowers prepay the mortgage loan in an amount equal to the greater of (a) 125% of the initial loan amount allocated to the individual mortgaged property being released and (b) with respect to the remaining individual mortgaged property, the amount that results in (1) the LTV not exceeding the lesser of (x) 67.5% and (y) the LTV immediately prior to the release, (2) the Debt Yield being at least equal to the greater of (x) 9.75% and (y) the Debt Yield immediately prior to the release and (3) the DSCR being at least equal to the greater of (x) 1.30x and (y) the DSCR immediately prior to the release. The allocated Current Balance ($), UW NCF DSCR, UW NOI Debt Yield % and Current LTV % as of the Cut-off Date for the mortgaged properties are: Camino Commons: $3,392,115, 1.35x, 10.0% and 67.8% respectively, and St. Albans Circle: $2,993,042, 1.31x, 10.0% and 64.8%, respectively.
   
(12) With respect to some mortgage loans, historical financial information may not be available due to the when the properties were constructed and/or acquired.
   
  With respect to Loan No. 2, Moffett Gateway, the mortgaged property is newly constructed and limited historical financial information is available.
   
  With respect to Loan No. 6, 55 Hawthorne, historical financial information for 2013 and 2014 is not available as the previous owner acquired the mortgaged property in July 2014 and historical cash flows were not provided at the time of acquisition. Additionally, between 2014 and 2015, the mortgaged property underwent an extensive renovation.

 

A-1-16 

 

 

  With respect to Loan No. 27, Pangea 15, the mortgaged properties were purchased via several transactions and recently renovated in 2016. As a result, full year 2013, 2014 and 2015 financial information is not available.
   
  With respect to Loan No. 28, The Shoppes at Letson Farms, the mortgaged property was acquired in October 2015. As a result, full year 2015 financial information is not available.
   
  With respect to Loan No. 32, St. Albans & Camino Commons, the individual Camino Commons mortgaged property was acquired in 2013. As a result, full year 2013 financial information is not available.
   
  With respect to Loan No. 33, Lake Geneva Commons, the mortgaged property was acquired in December 2013. As a result, full year 2013 financial information is not available.
   
  With respect to Loan No. 34, Hampton Inn & Suites Huntsville, the mortgaged property was opened in November 2015. As a result, full year 2013, 2014 and 2015 financial information is not available.
   
  With respect to Loan No. 39, Northgate Business Park III, the mortgaged property was acquired in May 2015. As a result, full year 2013, 2014 and 2015 financial information is not available.
   
  With respect to Loan No. 40, Aldine Plaza, the mortgaged property was acquired in July 2013. As a result, full year 2013 financial information is not available.
   
  With respect to Loan No. 41, Walgreens Cooper City, historical financial information is not presented as the leases are on an absolute-net basis.
   
  With respect to Loan No. 43, Rite Aid Sugar Hill, historical financial information is not presented as the leases are on an absolute-net basis.
   
(13) With respect to all hotel properties, the UW NOI ($) is shown after taking a deduction for an FF&E reserve, and as such, the UW NOI ($) and UW NCF ($) for these properties are the same.
   
(14) The UW NOI DSCR and UW NCF DSCR for all partial interest-only mortgage loans were calculated based on the first principal and interest payment after the Note Date during the term of the mortgage loan.
   
  With respect to Loan No. 2, Moffett Gateway, UW NOI DSCR and UW NCF DSCR were calculated based on the sum of the first 12 payments after the expiration of the interest-only period assumed principal payment schedule set forth on Annex F to this Preliminary Prospectus.
   
  With respect to Loan No. 10, Courtyard Marriott - King Kamehameha, the Annual Debt Service ($) is calculated based on the sum of the first 12 principal and interest payments allocable to the mortgage loan following the Cut-off Date and is based on a pro rata allocation between the A-Note and Subordinate Companion Loan of principal payable on the Courtyard Marriott - King Kamehameha Whole Loan. The assumed principal payment schedule set forth on Annex G to this Preliminary Prospectus. As such, the Current Balance ($), Maturity Balance ($), Monthly Debt Service ($), UW NOI DSCR and UW NCF DSCR all reflect this principal payment schedule and a fixed interest rate of 4.81000%.
   
(15) Represents the amount deposited by the borrower at origination. All or a portion of this amount may have been released pursuant to the terms of the related loan documents.
   
  With respect to Loan No. 2, Moffett Gateway, the borrower was required at origination to deposit $37,575,033 for a free rent reserve into the Upfront Other Reserve ($).
   
  With respect to Loan No. 5, Riverway, the borrower was required at origination to deposit into the Upfront Other Reserve ($) $271,509 for a free rent reserve, $6,984,788 for an outstanding tenant improvement reserve and $81,825 for a required immediate repairs reserve.
   
  With respect to Loan No. 8, Landmark Square, so long as an affiliate of the borrower maintains a long term, unsecured debt rating of “BBB-” (or its equivalent) from each of Moody’s and Fitch or has total assets in excess of $500.0 million and maintains a net worth of at least $250.0 million (in each case, exclusive of any interest in the mortgaged property), the borrower may deliver a partial payment guaranty from such entity in lieu of the borrower’s requirement to make the following deposits: (i) the deposits into the Upfront TI/LC Reserve ($); (ii) the deposits into the Upfront Other Reserve ($) for free rent and outstanding tenant improvements and leasing commissions; and (iii) the deposits into the Upfront CapEx Reserve ($). The amount of this partial payment guaranty is required to be equal to the lesser of (A) the amount that would be contained in each reserve if not for the delivery of the partial payment guaranty and (B) the then outstanding principal balance of the Whole Loan. The borrower is also permitted to deliver a letter of credit in an amount required by the loan documents, or a combination of a partial payment guaranty and letter of credit, in lieu of such deposits. The Principal / Carve-out Guarantor delivered the partial payment guaranty referenced above at origination of the mortgage loan in lieu of making such deposits.

 

A-1-17 

 

 

  With respect to Loan No. 16, Royal Oaks Plaza, the borrower was required at origination to deposit into the Upfront Other Reserve ($) $540,000 in connection with the potential renewal of the Winn-Dixie lease. The escrow is required to be released in the event the borrower provides evidence that Winn-Dixie has renewed its lease on or before July 28, 2017.
   
  With respect to Loan No. 18, Liberty Center, the borrower was required to deposit $64,752 at origination of the mortgage loan in a free rent reserve, $23,549.87 of which was reserved for the Largest Tenant, Micro Focus, for the period from July 1, 2017 to August 31, 2017, and the remaining amount for other tenants.
   
  With respect to Loan No. 19, Ocotillo Plaza, the borrower was required at origination to deposit $1,250,000 in a reserve for the Largest Tenant, Marketon. In the event the tenant exercises its one-time termination right commencing June 1, 2017 and expiring July 14, 2017, amounts on deposit in such reserve may be used for approved leasing expenses in connection with the leased premises, and upon termination of the related trigger event period or, subject to the conditions set forth in the loan documents, if the tenant fails to exercise or waives its termination right, any remaining amounts will be released to the borrower.
   
  With respect to Loan No. 23, Partridge Inn Augusta, the borrower was required at origination to deposit into the Upfront Other Reserve ($) $150,000 for a seasonality reserve. The loan documents provide that on the payment date in each June, July, November, December, January and February (the “Seasonality Disbursement Period”), the lender is required to release funds from the reserve in an amount representing any shortfall in net cash flow for such month, provided that the borrower complies with the terms and conditions in the loan documents. In addition, on the payment date occurring in April of each year, if the amount on deposit in the reserve is greater than the aggregate shortfall in net cash flow for the immediately preceding Seasonality Disbursement Period as determined by the lender in its discretion, then the lender is required to disburse such excess amount to the borrower.
   
  With respect to Loan No. 26, 100 North Citrus, the borrower was required to deposit $63,162.05 at origination of the mortgage loan in a free rent reserve. The reserve will be disbursed (i) to the 2nd Largest Tenant, Jason Bao & Xue Feng Gao in installments of $11,723.95, $12,009.90 and $12,296 in April 2018, April 2019 and April 2020, respectively, (ii) to the 5th Largest Tenant, Hospice MD, Inc. in the amount of $8,075 in May 2017 and (iii) the remaining amount will be disbursed to other tenants.
   
  With respect to Loan No. 28, The Shoppes at Letson Farms, the borrower was required to deposit $11,108 at origination of the mortgage loan in a rent gap reserve, $9,328 of which was reserved for the 5th Largest Tenant, Jakes Soul Food, for the period from April 2017 to May 2017, and the remaining amount of $1,780 for another tenant.
   
  With respect to Loan No. 33, Lake Geneva Commons, the borrower was required to deposit $298,338 at origination of the mortgage loan in a rent reserve for its Largest Tenant, Aldi, for the payment of monthly mortgage loan payments for the period during the build-out of the Aldi space, which is expected to be completed by March 2017, and any remaining amounts will be disbursed to the borrower.
   
  With respect to Loan No. 36, 3200 North Hayden, the borrower was required to deposit $24,043.67 at origination of the mortgage loan in a free rent reserve for its 5th Largest Tenant, EZ-Links Golf LLC, and the reserve will be disbursed to the borrower upon lender’s receipt of satisfactory evidence that the tenant is paying full unabated rent, which is expected to occur by June 1, 2017.
   
(16) Represents the monthly amounts required to be deposited by the borrower. The monthly collected amounts may be increased or decreased pursuant to the terms of the related loan documents. In certain cases, reserves with $0 balances are springing and are collected in the event of certain conditions being triggered in the respective mortgage loan documents. In certain other cases, all excess cash flow will be swept into reserve accounts in the event of certain conditions being triggered in the respective mortgage loan documents.
   
  With respect to Loan No. 1, Hilton Hawaiian Village, the borrower is required to deposit into the Monthly CapEx Reserve ($), on a monthly basis to fund the cost of replacements, an amount equal to the greater of (i) the aggregate amount of all deposits for replacements required to be deposited pursuant to any franchise or management agreement or (ii) 4.0% of gross income from operations for the two calendar months prior to the date on which the borrower is required make such deposit. To the extent no event of default exists, the loan documents provide that the borrower will receive a credit against each monthly deposit on a dollar for dollar basis to the extent the borrower makes deposits into a similar reserve or if such amounts otherwise accounted for pursuant to the working capital balance held in either operating account. In addition, the Monthly RE Tax Reserve ($) and Monthly Ins. Reserve ($) are waived to the extent there is no cash sweep period continuing under the loan documents or to the extent the borrower reserves such funds with the manager or the manager pays such taxes and insurance premiums in accordance with the management agreement.
   
  With respect to Loan No. 3, Dallas Design District, the Monthly CapEx Reserve ($) and the Monthly TI/LC Reserve ($) are waived provided that the balance of each reserve equals $372,816 and $3,278,052, respectively. Following the occurrence of either reserve balance falling below the required cap, the borrowers will be required to deposit into escrow the respective amount that would bring the balance of each respective reserve up to, but not above, the required cap.
   
  With respect to Loan No. 3, Dallas Design District, the borrowers are required to deposit into the Monthly Other Reserve ($), on a monthly basis, a reserve for ground rent in the amount of 1/12 of the base rents due under the ground lease that the lender estimates will be payable under the ground lease during the following 12-month period.
   
  With respect to Loan No. 4, Fresno Fashion Fair Mall, the Monthly RE Tax Reserve ($), Monthly CapEx Reserve ($) and Monthly TI/LC Reserve ($) are waived provided that there is no trigger period in effect. A trigger period will commence upon the

 

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  occurrence and continuance of an event of default or the occurrence of the date on which the debt service coverage ratio falls below 1.45x. Following the occurrence and during the continuance of a trigger period, the borrower is required to deposit $7,670 into the Monthly CapEx Reserve ($) for replacement reserves and $46,368 into the Monthly TI/LC Reserve ($) for tenant improvements and leasing commissions.
   
  With respect to Loan No. 5, Riverway, in addition to the regular deposits of $108,640 into the Monthly TI/LC Reserve ($), following the occurrence of (a) any of the following with respect to the Largest Tenant, U.S. Foods, or the 2nd Largest Tenant, Central States Pension Fund (or their respective replacement tenants): (i) any termination or giving of notice for any termination of the related lease; (ii) the tenant going dark, vacating or ceasing operations at the related leased premises; (iii) any insolvency or bankruptcy action; or (iv) any failure to renew the related lease(s) in accordance with its terms (each, a “Tenant Trigger Event”) or (b) a withdrawal of U.S. Foods’ credit rating (unless U.S. Foods’ rating is withdrawn solely as the result of no longer having public debt necessary to enable such rating and it maintains a net worth of at least $1 billion) or downgrading of such rating below “B2” or “B” (or the equivalent) or less by each of S&P, Moody’s and Fitch (each, a “Downgrade Trigger Event”), the borrower is required to deposit all excess cash flow after debt service, required reserves and operating expenses into the Monthly TI/LC Reserve ($). If (x) a Tenant Trigger Event has occurred with respect to U.S. Foods and one or more of Central States Pension Fund or any replacement tenant or (y) if a Tenant Trigger Event and a Downgrade Trigger Event have occurred and are simultaneously continuing, the excess cash flow deposited into the Monthly TI/LC Reserve ($) is required to be allocated to the U.S. Foods subaccount in such proportion as the lender determines in its sole but reasonable discretion. The borrower is also required to deposit any contraction or termination fees into the Monthly TI/LC Reserve ($).
   
  With respect to Loan No. 6, 55 Hawthorne, the loan documents provide that during a cash sweep event solely caused by (i) the Largest Tenant, Yelp delivering notice of its intention not to renew its lease, (ii) Yelp delivering notice of its intention to terminate its lease for a portion of the building that results in a vacancy of more than 2.5 floors (unless such portion of terminated space has been re-leased to a replacement tenant in accordance with the loan documents), (iii) Yelp failing to renew its lease on or prior to the date required for such renewal, (iv) Yelp going dark, vacating or abandoning a portion of its space greater than 2.5 floors for a period of more than 180 consecutive days or (v) any bankruptcy or insolvency action with respect to Yelp, all excess cash flow after payment of debt service, required reserves and operating expenses are required to be deposited into the Monthly TI/LC Reserve ($). In addition, the Monthly RE Tax Reserve ($) is waived provided there is no event of default and the borrower provides the lender with satisfactory evidence that all taxes have been paid on or prior to the date when due.
   
  With respect to Loan No. 8, Landmark Square, so long as an affiliate of the borrower maintains a long term unsecured debt rating of “BBB-” (or its equivalent) from each of Moody’s and Fitch or has total assets in excess of $500.0 million and maintains a net worth of at least $250.0 million (in each case, exclusive of any interest in the mortgaged property), the borrower may deliver a partial payment guaranty from such entity in lieu of the borrower’s requirement to make (i) the deposits into the Monthly TI/LC Reserve ($), and (ii) the deposits into the Monthly CapEx Reserve ($). The amount of this partial payment guaranty is required to be equal to the lesser of (A) the amount that would be contained in each reserve if not for the delivery of the partial payment guaranty and (B) the then outstanding principal balance of the Whole Loan. The borrower is also permitted to deliver a letter of credit in an amount required by the loan documents, or a combination of a partial payment guaranty and letter of credit, in lieu of such deposits. The Principal / Carve-out Guarantor delivered the partial payment guaranty referenced above at origination of the mortgage loan in lieu of making such deposits.
   
  With respect to Loan No. 9, Centre Market Building, the borrower is required to deposit into the Monthly TI/LC Reserve ($) the following deposits monthly: (i) $250,000 on each payment date through and including the payment date in January 2021; (ii) beginning on the payment date in February 2021 and on each payment date through and including the payment date in September 2023, an amount equal to $208,333; and (iii) beginning on the payment date occurring in October 2023 and on each payment date thereafter, an amount equal to $56,000 for TI/LC reserves.
   
  With respect to Loan No. 10, Courtyard Marriott - King Kamehameha, the borrower is required to deposit into the Monthly Other Reserve ($) 1/12 of the aggregate rents payable under the ground lease (including, without limitation, base rent, additional rents and any percentage rent) that the lender estimates will be payable under the ground lease. In addition, the borrower is required to deposit into the Monthly Other Reserve ($) an amount equal to $191,667 for a PIP that is currently being negotiated between the borrower and franchisor, and the borrower may elect to deposit 50% of the Monthly CapEx Reserve ($) into the Monthly Other Reserve ($) for the first 24 payment dates of the loan term. The borrower will not be required to make any additional deposits for any future or additional PIP so long as such costs are included in the annual budget approved in accordance with the loan documents. If such amounts are not accounted for in the approved annual budget, a monthly PIP deposit amount will be established in an amount that lender reasonably determines sufficient to make up such deficiency. In lieu of depositing cash for the PIP reserve, the borrower may deliver to lender a letter of credit for all or any portion of such reserve funds.
   
  With respect to Loan No. 11, Milton Park, the loan documents provide that the borrower is required to deposit the following into the Monthly TI/LC Reserve ($): (i) during a cash sweep event caused by the Largest Tenant, Landis+Gyr (or any tenant leasing such space) terminating its lease, giving notice of its intent to terminate the lease, going dark, vacating or ceasing operations, becoming insolvent or subject to a bankruptcy proceeding or failing to renew or extend its lease in accordance with the loan documents, all excess cash flow after payment of debt service, required reserves and operating expenses (until the occurrence of the applicable cash sweep trigger cure under the loan documents); (ii) any amounts paid to borrower in connection with any termination or contraction rights under any tenant’s lease and (iii) any amounts paid to the borrower pursuant to any letter of credit issued in connection with any lease. In addition, if (a) on May 1, 2020, Landis+Gyr has not renewed or extended its lease for a term expiring on or after January 1, 2024 and (b) the lender determines that amounts on deposit in the Monthly TI/LC Reserve ($) (exclusive of certain amounts set forth in the loan documents) are less than $1,000,000, the borrower is required to deposit in the Monthly TI/LC Reserve ($), no later than May 31, 2020, an amount sufficient to ensure the reserve (exclusive

 

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  of certain amounts set forth in the loan documents) equals $1,000,000. In addition, if a cash sweep event triggered by an event set forth in subpart (i) above has occurred and is continuing, the excess cash flow deposited into the Monthly TI/LC Reserve ($) and the $2.2 million deposit that the borrower may use to cure a cash sweep event triggered by Landis+Gyr going dark are required to be allocated to a Landis+Gyr subaccount. Funds allocated to the Landis+Gyr subaccount will be used solely for tenant improvements and leasing commissions in connection with the Landis+Gyr leased premises; provided, however, in the event all other funds in the reserve (exclusive of the funds allocated to the Landis+Gyr subaccount) have been disbursed in accordance with the loan agreement, the lender is required to make disbursements from the portion of the funds allocated to the Landis+Gyr subaccount to pay for tenant improvement and leasing commission obligations incurred in connection with new leases. From and after May 31, 2020, the lender is not required to disburse any funds from the reserve if such disbursement will result in the funds (exclusive of the Landis+Gyr go dark deposit and any excess cash flow deposited during a Landis+Gyr go dark event) on deposit in the TI/LC reserve to be less than $1,000,000 unless (i) Landis+Gyr has renewed or extended the Landis+Gyr lease for a term expiring on or after January 1, 2024 or (ii) such disbursement is in connection with a re-tenant event of the Landis+Gyr leased premises pursuant to a lease for a term expiring on or after January 1, 2024 and is reasonably acceptable to lender.
   
  With respect to Loan No. 13, Orchard Hill Park, the loan documents provide that during a cash sweep event solely caused by any of the Largest Tenant, Kohl’s, the 2nd Largest Tenant, Dick’s Sporting Goods, or the 3rd Largest Tenant, Bed Bath & Beyond, (a) failing to extend or renew its respective lease on or before the earlier of (i) the date required by the related lease or (ii) the date that is 12 months prior to the related expiration date, (b) exercising any termination option, (c) giving any notice that it intends to terminate, abandon, vacate or otherwise cancel its respective lease or (d) terminating or cancelling its related lease (including any rejection of the lease in bankruptcy), all excess cash flow after payment of debt service, required reserves and operating expenses will be deposited into the Monthly TI/LC Reserve ($) until the TI/LC Reserve Cap ($) has been reached.
   
  With respect to Loan No. 14, 11200 Rockville Pike, the loan documents also require that the borrower deposit any termination fee or other consideration payable to the borrower in connection with any tenant’s election to exercise any early termination option or in connection with any other termination, amendment or modification of a lease, reduction of rent, shortening of the term or surrender of space, which amounts must be deposited into the Monthly TI/LC Reserve ($). In addition, the borrower is required to deposit an amount equal to any free rent and rent abatements under any lease entered into after the origination date into the Monthly Other Reserve ($).
   
  With respect to Loan No. 15, Marriott Galleria, the borrowers are entitled to a credit (on a dollar-for-dollar basis) against the requirements to make deposits into the Monthly RE Tax Reserve ($), Monthly Ins. Reserve ($) and Monthly CapEx Reserve ($) to the extent the borrowers are required to make deposits into a tax, insurance and FF&E reserve or escrow account maintained by the property manager pursuant to the hotel management agreement between the manager and the borrowers, provided that the lender receives satisfactory evidence that such deposits are being made with the manager and that the manager is expending such funds on reserves for the payments of taxes and other charges, insurance premiums and FF&E replacements. The loan documents require the borrowers to deposit into the Monthly CapEx Reserve ($) an amount equal to the greater of (i) 4.0% of gross income from operations for the calendar month two months prior to the applicable payment date, (ii) amounts required to be made into an FF&E reserve account maintained by the hotel manager pursuant to the hotel management agreement, and (iii) if the mortgaged property becomes subject to a franchise agreement, the amount required by such franchise agreement.
   
  With respect to Loan No. 16, Royal Oaks Plaza, the loan documents provide that in the event of a cash sweep period caused by (i) any notice of non-renewal, notice of termination or failure to renew the Winn-Dixie lease prior to the date that is three months prior to its current expiration date of October 28, 2017, (ii) after July 28, 2017, any notice of non-renewal, notice of termination or failure to renew the Winn-Dixie lease prior the date that is nine months prior to the then current expiration date of the lease or (iii) Winn-Dixie going dark, vacating or abandoning the leased premises or being the subject of a bankruptcy or insolvency action, all excess cash flow after payment of debt service, required reserves and operating expenses, as well as any cash or letter of credit delivered by the borrower to cure such cash sweep period, will be deposited into the Monthly Other Reserve ($) for costs and expenses associated with re-tenanting the leased premises.
   
  With respect to Loan No. 18, Liberty Center, the borrower is required to deposit the sum of $46,640 on each monthly payment date for the first 24 months of the mortgage loan into the Monthly TI/LC Reserve ($), decreasing to $23,320 monthly thereafter. The Monthly TI/LC Reserve ($) is initially capped at $1,450,000. If the borrower provides to the lender satisfactory evidence that all outstanding tenant improvement obligations under the lease with the 2nd Largest Tenant, Regus National Business Centers, have been satisfied, the TI/LC Reserve Cap ($) will be reduced to $1,250,000.
   
  With respect to Loan No. 20, Gwinnett Commerce Center, the loan documents provide that during a cash sweep event solely caused by a tenant trigger event, all excess cash flow will be deposited into the Monthly TI/LC Reserve ($) until the TI/LC Reserve Cap ($) of $1,800,000 in the aggregate has been reached.
   
  With respect to Loan No. 23, Partridge Inn Augusta, the Monthly Other Reserve ($) consists of a seasonality reserve. On the payment date in May of each year during the loan term, the borrower is required to deposit into the Monthly Other Reserve ($) an amount equal to at least the aggregate shortfall in net cash flow for the immediately preceding June, July, November, December, January and February months, as determined by lender in March of each year and based upon actual net cash flow in such months during the 12 months immediately prior to the date of lender determination.
   
  With respect to Loan No. 30, Neilson Square, the borrower was required to fund an upfront deposit of $100,271 into the Upfront CapEx Reserve ($). In addition, the borrower was required to make ongoing monthly deposits of $1,311 for the Monthly CapEx

 

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  Reserve ($) up to and including the monthly payment date in February 2020. In the event the funds in the related reserve are drawn below $125,000 prior to replacement of the roof, the borrower will be required to deposit $1,311 monthly until the CapEx Reserve Cap ($) of $125,000 is reached. Following completion of the roof, the CapEx Reserve Cap ($) will be reduced to $25,000 and if funds on deposit in the related reserve fall below $25,000, the borrower will be required to deposit $1,311 monthly into the Monthly CapEx Reserve ($) until the cap of $25,000 is achieved again.
   
  With respect to Loan No. 34, Hampton Inn & Suites Huntsville, the borrower is required to deposit on each monthly payment date in the Monthly Capex Reserve ($) an amount equal to 1/12 of 2% of gross revenue for the first 24 months of the mortgage loan term, and thereafter an amount equal to 1/12 of 4% of gross revenue subject to any reassessment by the lender of the required work.
   
  With respect to Loan No. 35, Holiday Inn Express Orangeburg, the borrower is required to deposit 1/12 of 5% of gross revenues at the mortgaged property into an FF&E reserve subject to a cap of $936,000, provided that so long as the franchisor does not require the borrower to maintain a capital reserve in accordance with the franchise agreement, upon completion of the PIP, such monthly deposit will be reduced to 1/12 of 4% of annual gross revenues. Beginning on November 27, 2023 and through the date on which the borrower executes a replacement franchise agreement (or an extension of the existing franchise agreement) to expire no earlier than November 2031 in form satisfactory to the lender, the borrower will be required to make monthly deposits into an FF&E reserve in an amount equal to the greater of (a) 1/12 of 4% of gross revenues at the mortgaged property and (b) the quotient resulting from (i) the difference between $936,000 less the balance then on deposit in the related reserve divided by (ii) 36. During this time, the borrower will not have the ability to draw from or otherwise retain a release of funds on deposit in the related reserve. In lieu of the monthly deposits into an FF&E reserve during this time, the borrower will have the option to deliver to the lender on or prior to the commencement of the foregoing referenced 36-month period an “evergreen” letter of credit in the amount of $936,000 less the balance then on deposit in an FF&E reserve (the “LOC”). In the event that the borrower elects to deliver the LOC in lieu of making the monthly deposits into an FF&E reserve during this 36-month period, the borrower will not be entitled to make any draws under the LOC or to receive reimbursements from the lender with respect to any FF&E work, any costs associated with entering into, negotiating or executing a replacement franchise agreement (or any extension of the existing franchise agreement) or any work required in connection therewith.
   
  With respect to Loan No. 38, Courtyard Business Center, deposits into the Monthly TI/LC Reserve ($) will be suspended so long as the mortgaged property maintains a physical and economic occupancy equal to or greater than 80%. If the mortgaged property is less than 80% physically and economically occupied, the borrower will be required to deposit $8,333 monthly into the Monthly TI/LC Reserve ($).
   
(17) Represents a cap on the amount required to be deposited by the borrower pursuant to the related mortgage loan documents. In certain cases, during the term of the mortgage loan, the caps may be altered or terminated subject to conditions of the respective mortgage loan documents.
   
  With respect to Loan No. 9, Centre Market Building, the loan documents provide for a TI/LC Reserve Cap ($) in an amount equal to $7,750,000; provided, however, commencing on October 1, 2023 through and including the maturity date, (i) if the Largest Tenant, US Customs and Border Protection (“CBP”), executes a new lease with the borrower for a term expiring between September 30, 2023 and September 29, 2028, the TI/LC Reserve Cap ($) is required to be reduced to $5,500,000, (ii) If CBP and the borrower execute a new lease for a term expiring between September 30, 2028 and September 30, 2030, the TI/LC Reserve Cap ($) is required to be reduced to $2,500,000, or (iii) if CBP and the borrower execute a new lease for a term expiring after September 30, 2030 and the 2nd Largest Tenant, US Drug Enforcement Administration (“DEA”), and the borrower renew the DEA’s lease in accordance with the loan documents or execute a new lease with base rent of not less than 85% of the then-current base rent for a term expiring after June 30 2028, in each case among certain other conditions, the TI/LC Reserve Cap ($) will be reduced to $0.
   
  With respect to Loan No. 10, Courtyard Marriott - King Kamehameha, the loan documents provide that the deposits made into the PIP reserve, in the aggregate, have an Other Reserve Cap ($) of the greater of (i) the total estimated cost of the PIP or (ii) if borrower has commenced work on the PIP, the amount necessary to complete the initial PIP. Any portion of the FF&E monthly deposit deposited into the PIP reserve will be applied in the determination of whether the cap has been reached.
   
  With respect to Loan No. 13, Orchard Hill Park, the loan documents provide that the deposits made into the Monthly CapEx Reserve ($) have a CapEx Reserve Cap ($) of $43,272 in the aggregate. During a cash sweep event caused solely by a tenant trigger event, all excess cash flow, until the Monthly TI/LC Reserve Cap ($) of $572,400 has been reached, will be deposited into the Monthly TI/LC Reserve ($) account.
   
  With respect to Loan No. 20, Gwinnett Commerce Center, the loan documents provide that the deposits made into the Monthly TI/LC Reserve ($) have a TI/LC Reserve Cap ($) of $1,800,000 in the aggregate, which includes all excess cash flow during a cash sweep event caused solely by a tenant trigger event.  
   
(18) With respect to the footnotes hereto, no footnotes have been provided with respect to tenants that are not among the five largest tenants by square footage for any Mortgaged Property.
   
(19) In certain cases, the data for tenants occupying multiple spaces includes square footage only from the primary spaces sharing the same expiration date, and may not include smaller spaces with different expiration dates.

 

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  With respect to Loan No. 6, 55 Hawthorne, except as noted below, the Largest Tenant, Yelp, is contractually obligated under its lease to occupy 100% of the building upon expiration of the current leases. All current leases expire by October 2017. There is one tenant, Make-a-Wish Foundation, with one, five-year renewal option, however, the loan sponsor does not expect Make-a-Wish Foundation to exercise the renewal option, which would increase its rent from $32.00 per square foot to market value, which the appraisal concluded to be $72.00 per square foot. If Make-a-Wish Foundation does exercise its renewal option, Yelp has the right but not the obligation to lease such space at the expiration of the extension term.
   
  With respect to Loan No. 11, Milton Park, the 4th Largest Tenant, GE Capital, subleases 11,209 square feet to Antares Capital.
   
  With respect to Loan No. 12, Reston EastPointe, the Largest Tenant, Vencore, Inc. subleases (i) 37,243 square feet to STG, Inc., (ii) 11,556 square feet to Cyveillance, and (iii) 11,051 square feet to the 3rd Largest Tenant, Vistronix, LLC. The 2nd Largest Tenant, Blue Canopy, LLC, subleases 25,171 square feet from Farmers Insurance Exchange. The space subleased by Blue Canopy, LLC expires February 28, 2019, and the tenant’s direct lease of 14,855 square feet expires February 28, 2023.
   
(20) The lease expirations shown are based on full lease terms; however, in some instances, the tenant may have the option to terminate its lease with respect to all or a portion of its leased space prior to the expiration date shown. In addition, in some instances, a tenant may have the right to assign its lease or sublease its leased premises and be released from its obligations under the subject lease.
   
  With respect to Loan No. 3, Dallas Design District, the 3rd Largest Tenant, David Sutherland, Inc., has the right to terminate its lease on June 1, 2018, with notice on or prior to June 1, 2017 and the payment of a termination fee.
   
  With respect to Loan No. 4, Fresno Fashion Fair Mall, the Largest Tenant, JCPenney, has the right to purchase its leased parcel under the related lease if the tenant determines that the lease has become “uneconomical” in accordance with the lease. The borrower may nullify this purchase option and the loan agreement requires the borrower to reject any offer to purchase the leased parcel, however, the lease provides that if the borrower rejects the offer to purchase, the lease will be terminated.
   
  With respect to Loan No. 4, Fresno Fashion Fair Mall, the lease for the 2nd Largest Tenant, Victoria’s Secret, contains a co-tenancy clause that requires (i) more than three “Major Tenants” (as defined in the lease) to be open for business or (ii) 70% of other stores having storefronts or entrances on the enclosed mall excluding any “Major Tenants” (each of the foregoing (i) and (ii), the “VS Co-Tenancy Requirement”) to be open for business for reasons other than temporary permitted closures in accordance with the lease agreement. If the VS Co-Tenancy Requirement is breached (A) for 180 consecutive days, after such period, the tenant may pay a reduced rent of 5% of gross sales and (B) for 365 consecutive days, after such period, the tenant may terminate the lease with notice prior to the later of (i) 395 consecutive days from date the tenant was entitled to commence payment of the alternative rent, or (ii) 60 days following the date of the tenant’s notice that it is beginning the payment of alternative rent. If the tenant does not provide notice of termination as provided in the preceding sentence, the tenant is required to resume paying full rent. In addition, the lease for the 5th Largest Tenant, Anthropologie, contains a co-tenancy clause that requires (i) three or more tenants of 90,000 square feet or more to be operating or (ii) more than 65% of the total square footage of the mall (excluding the leased premises) to be occupied by tenants operating their business (each of the foregoing (i) and (ii), the “Anthropologie Co-Tenancy Requirement”). If the Anthropologie Co-Tenancy Requirement is breached (A) for six months or more, the tenant may pay a reduced rent of 6% of gross sales, and (B) for 365 consecutive days, after such period, the tenant may terminate the lease with 60 days notice following such 365 day period. If the tenant does not provide notice of termination as provided in the preceding sentence, the tenant is required to resume paying full rent.
   
  With respect to Loan No. 5, Riverway, the 3rd Largest Tenant, Culligan International Company, has the right to terminate its lease as of December 31, 2019 with nine months’ notice and the payment of a termination fee.
   
  With respect to Loan No. 5, Riverway, the 2nd Largest Tenant, Central States Pension Fund, the loan sponsor has indicated that the tenant may be facing insolvency issues in the future. According to the loan sponsor, as of December 31, 2015, the total number of participants and beneficiaries covered by the pension plan was 397,492. Of that number, 64,527 were current employees and the remaining members were either retired and receiving benefits or retired with a right to future benefits. In May 2016, the US Department of the Treasury rejected a plan put forth by the tenant to partially reduce the pensions of 115,000 retirees and the future benefits of 155,000 current workers. According to the loan sponsor, it is anticipated that without federal assistance, the pension fund will become insolvent by the end of 2025.
   
  With respect to Loan No. 6, 55 Hawthorne, the Largest Tenant, Yelp, has the right to contract its leased space by (i) up to two entire floors, effective as of the last day of the 72nd calendar month of the lease term, and (ii) up to one entire floor, effective as of the last day of the 96th calendar month of the lease term, provided in each case that the tenant is leasing at least 65% of the total net rentable area in the building. The tenant is required to terminate the lowest floors being leased.
   
  With respect to Loan No. 7, Bardmoor Palms, the Largest Tenant, Allstate, has the right to terminate its lease with respect to (i) 37,411 square feet in the east building at any time beginning October 1, 2021 with 12 months’ written notice and the payment of a termination fee and (ii) 90,258 square feet in the west building at any time beginning October 1, 2023 with 12 months’ written notice and the payment of a termination fee.
   
  With respect to Loan No. 8, Landmark Square, the Largest Tenant, Cummings & Lockwood has the right to contract its leased space by 5,000-10,000 square feet as of April 30, 2021, with 12 months’ notice and the payment of a contraction fee. The 3rd Largest Tenant, Finn Dixon & Herling, has a one-time right to terminate 3,240 square feet of its 26,385 total square as of January

 

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  1, 2023 with 18 months’ written notice. The 4th Largest Tenant, Morgan Stanley Smith Barney, has a one-time right to terminate its lease as of August 23, 2019 with 12 months’ written notice and the payment of a termination fee.
   
  With respect to Loan No. 9, Centre Market Building, the Largest Tenant, US Customs and Border Protection, has the right to terminate its lease on May 31, 2019 with 180 days’ notice. The 3rd Largest Tenant, US Social Security Administration, has the right to terminate its lease at any time with 90 days’ notice.
   
  With respect to Loan No. 11, Milton Park, the 2nd Largest Tenant, Pegasystems, Inc., has the right to terminate its lease as of July 31, 2019 in the event there is a change in control of the tenant (whether by the change of 50% or more of the direct or indirect ownership interests in the tenant or possession of the right to vote more than 50% of the ownership interests in the tenant), with notice by January 31, 2019 and the payment of a termination fee.
   
  With respect to Loan No. 12, Reston EastPointe, the 2nd Largest Tenant (when including subleased space), Blue Canopy, LLC, has the right to terminate its lease on July 31, 2019 with 12 months’ notice and payment of a termination fee. The 3rd Largest Tenant (when including subleased space), Vistronix, LLC, has the right to terminate its lease on November 30, 2020 with nine months’ notice and payment of a termination fee.
   
  With respect to Loan No. 13, Orchard Hill Park, the lease for the 2nd Largest Tenant, Dick’s Sporting Goods, contains a co-tenancy clause that requires at least 65% of the leasable floor area to be occupied/opened by a (i) a national occupant operating a minimum of 50 high-quality retail stores or (ii) a regional occupant operating high-quality retail stores, both of types found in first-class shopping centers. If the co-tenancy requirement is not satisfied in excess of 90 consecutive days, tenant will pay substitute rent of 3% of gross sales (but not more than the lease rent) at the beginning of the first calendar month following such co-tenancy violation and ending on the last day of the calendar month such violation ends. If such co-tenancy violation continues for a period up to 24 months tenant has the right to continue to pay substitute rent or may terminate its lease with 60 days’ notice. If such co-tenancy violation continues for a period over 24 months (“Violation Period”), then tenant, within 30 days after such period, will either (a) terminate its lease with 60 days written notice or (b) resume full payment of rent in the first calendar month after 60 days from the Violation Period. The lease for the 3rd Largest Tenant, Bed Bath & Beyond, contains a co-tenancy clause that requires at least 75,000 square feet of the leasable floor area to be used for the operation of a retail business by a national or regional tenant typically found in first class shopping centers. If the co-tenancy requirement is violated for more than 365 days, the tenant will have the right to pay an alternative rent of 3% of gross sales or 50% of the tenants current fixed rent during the period the violation continues in excess of 365 days. If such violation continues for a period in excess of 730 continuous days the tenant will have the right, within 120 days after the expiration of such 730-day period and with 60 days’ written notice to terminate its lease. If the tenant does not terminate its lease within 120 days after the expiration of such 730-day period the tenant will resume paying full rent. The lease for the 4th Largest Tenant, Chili’s, contains a co-tenancy clause that requires 65% of Orchard Hill Park (excluding Target and Chili’s) to be open and operating. If the co-tenancy requirement is not satisfied in excess of 150 consecutive days, then tenant will have the right to cease operations and at any time tenant will have the right to terminate its lease with 90 days’ notice to landlord. The lease for the 5th Largest Tenant, Sleepy’s, contains a co-tenancy clause that states the tenant will have the right to pay a substitute rent equal to 50% of the tenants current minimum annual rent as substitute rent if either of the following exists for a continuous period of 90 days after written notice to landlord: (1) Target and Kohl’s space becomes vacant or (2) less than 50% of the remaining stores in Orchard Hill Park (not including Target and Kohl’s space) will be vacant (a “Co-Tenancy Failure”). If a Co-Tenancy Failure continues for six months following written notice to landlord, the tenant can either terminate its lease with 10 days’ notice or resume paying full rent. The lease for the 5th Largest Tenant, Sleepy’s, has a one-time option to terminate its lease, effective as of November 30, 2017, at any time within a 30-day period after February 28, 2017, if its gross sales do not exceed $875,000 for at least one 12-month period between January 1, 2013 and February 28, 2017, with notice on or prior to the expiration of such 30-day period.
   
  With respect to Loan No. 14, 11200 Rockville Pike, the Largest Tenant, RR Donnelly Financial, Inc., has the right to terminate its lease or contract its space of the entire third or fifth floors on February 28, 2019, with 12 months’ notice and the payment of a termination fee. The 2nd Largest Tenant, Snyder Cohn PC, has the right to terminate its lease on November 30, 2020, with notice on or before 210 days prior to exercising such option and the payment of a termination fee.
   
  With respect to Loan No. 17, Las Palmas, the 2nd Largest Tenant, CPS Energy, has the one-time right to terminate its lease as of January 31, 2019, with 90 days’ notice and payment of a termination fee.
   
  With respect to Loan No. 18, Liberty Center, the 3rd Largest Tenant, Rexair LLC, has the one-time right to terminate its lease during the month of January 2018 with at least six months’ notice but no more than 12 months’ prior written notice and payment of an early termination fee equal to 107.5% of the total unamortized sum of landlord’s work and leasing commissions. Additionally, the 4th Largest Tenant, Farmers Insurance Exchange, has an ongoing right to contract space by up to 25% on or after May 1, 2017 with 90 days’ prior written notice and a contraction fee equal to 120% of the total unamortized sum of landlord’s work and leasing commissions. Farmers Insurance Exchange also has the right to terminate its lease as of April 30, 2018 with 90 days’ prior written notice and payment of an early termination fee equal to 120% of the total unamortized sum of landlord’s work and leasing commissions. The 5th Largest Tenant, Cornerstone Municipal, has the right to terminate its lease as of February 29, 2020 and expiring on January 31, 2021 with six months’ prior written notice and payment of an early termination fee equal to 120% of the total unamortized sum of tenant improvements and leasing commissions, if there is a buyout, merger or sale of the company.
   
  With respect to Loan No. 19, Ocotillo Plaza, the Largest Tenant, Marketon, has the one-time right to terminate its lease effective June 1, 2017 and expiring on July 14, 2017 if gross sales for the then-previous 12-month period fail to exceed $36,000,000.

 

A-1-23 

 

 

  With respect to Loan No. 20, Gwinnett Commerce Center, the Largest Tenant, GSA Department of Veteran Affairs, has the right to terminate its lease after November 1, 2020 with 90 days’ notice. The 5th Largest Tenant, GSA Federal Energy Regulatory Commission, has the right to terminate its lease at any time with 60 days’ notice.
   
  With respect to Loan No. 24, 4400 Dixie Highway, the 4th Largest Tenant, Metalworking Group Holdings, Inc., has the one-time right to terminate its lease as of October 31, 2017, with notice by April 1, 2017.
   
  With respect to Loan No. 26, 100 North Citrus, the Largest Tenant, Wells Fargo Bank N.A., has the one-time right to terminate its lease effective November 30, 2022 with 12 months’ prior written notice and payment of an early termination fee equal to the total unamortized sum of landlord’s work and leasing commissions.
   
  With respect to Loan No. 33, Lake Geneva Commons, the 2nd Largest Tenant, HomeGoods, has the option to terminate its lease if Petco or Aldi is closed for more than 18 consecutive months. The borrower anticipates that Aldi will open for business in April 2017. Additionally, the 3rd Largest Tenant, Petco, has the option to pay the 5% of gross sales in lieu of base rent if, during any 30 consecutive day period, the mortgaged property is less than 33% occupied. If the related co-tenancy provision continues for 12 months, Petco may terminate its lease.
   
  With respect to Loan No. 36, 3200 North Hayden, the Largest Tenant, Strickbine Publishing, Inc., vacated its premises and has subleased approximately half of its leased space (4,224 square feet) to one sub-lessee and the remaining portion of the premises to another sub-lessee. Strickbine Publishing, Inc. is liable for its obligations under the lease.
   
  With respect to Loan No. 40, Aldine Plaza, the Largest Tenant, Dollar Tree, has the option to pay the 3% of gross sales in lieu of base rent, beginning in March 2017, if the mortgaged property is less than 75% occupied. If the related co-tenancy provision continues for six months, Dollar Tree may terminate its lease.
   
(21) In certain cases, the Principal / Carve-out Guarantor name was shortened for spacing purposes.
   
  With respect to Loan No. 1, Hilton Hawaiian Village, the aggregate liability of the Principal / Carve-out Guarantor with respect to all full recourse carve-outs in the loan documents may not exceed an amount equal to 10% of the principal balance of the Hilton Hawaiian Village Whole Loan outstanding at the time of the occurrence of such event, plus any and all reasonable third-party collection costs actually incurred by the lender (including reasonable attorneys’ fees and costs reasonably incurred). In addition, the Principal / Carve-out Guarantor is not a party to the environmental indemnity, and the borrowers are the sole parties liable for any breaches or violations of the indemnity. In lieu of the Principal / Carve-out Guarantor signing the indemnity, the borrowers were required to obtain an environmental insurance policy in accordance with the loan documents.
   
  With respect to Loan No. 2, Moffett Gateway, the borrower is permitted to obtain the release of Joseph K. Paul and Jay Paul Revocable Living Trust Dated November 9, 1999, as Amended and Restated on March 19, 2010, on certain terms and conditions in the loan documents, which include, without limitation (i) no event of default has occurred and is then continuing, (ii) such release is permitted by then applicable REMIC requirements and (iii) Paul Guarantor LLC has a net worth of not less than $300,000,000 and liquidity of not less than $20,000,000.
   
  With respect to Loan No. 3, Dallas Design District, the aggregate liability of one of the Principal / Carve-out Guarantor, Donald Engle, with respect to all nonrecourse carve-out provisions in the loan documents is limited to only breaches or violations of the nonrecourse carve-outs related to the tenant-in-common borrower owned by such Principal / Carve-out Guarantor, and Donald Engle is not a party to the environmental indemnity. The other Principal / Carve-out Guarantor, William L. Hutchinson, has signed the environmental indemnity and is responsible for any violation or breach of the nonrecourse carve-out provisions.
   
  With respect to Loan No. 9, Centre Market Building, one of the Principals / Carve-out Guarantors, Gerald Scott Kaufman, and his estate are permitted to obtain the release from liabilities upon his death or incapacity on certain terms and conditions in the loan documents, which include, without limitation (i) the other Principal / Carve-out Guarantor, B. Jeremy Kaufman, remains liable under all loan documents to which he is a party, (ii) B. Jeremy Kaufman has a net worth of not less than $21,000,000 and liquidity of not less than $2,000,000 and (iii) B. Jeremy Kaufman reaffirms and ratifies all of his obligations under the loan documents to which he is a party.
   
(22) With respect to Loan No. 1, Hilton Hawaiian Village, 5,900 square feet of the mortgaged property is a leasehold interest owned by one of the borrowers under a ground lease, and, except as noted in the footnote below, the remainder of the mortgaged property is owned by the borrower in fee simple.
   
  With respect to Loan Nos. 1 and 8, Hilton Hawaiian Village and Landmark Square, the respective borrowers have pledged both the fee interest in the mortgaged property held by the borrower which owns the mortgaged property (“Owner Borrower”) as well as the leasehold interest of the related borrower which is the operating lessee of the property (“Lessee Borrower”) under an operating lease between Owner Borrower and Lessee Borrower.
   
  With respect to Loan No. 3, Dallas Design District, a portion of the mortgaged property located at 1621 Oak Lawn, Dallas, Texas, is a leasehold interest owned by two of the borrowers under a ground lease, which expires December 20, 2051.
   
  With respect to Loan No. 8, Landmark Square, a portion of the mortgaged property consisting of 1 Landmark Square is a leasehold interest in an air rights parcel owned by the borrower which expires February 28, 2082, and the remainder of the mortgaged property is owned by the borrower in fee simple.

 

A-1-24 

 

 

  With respect to Loan No. 10, Courtyard Marriott - King Kamehameha, the mortgaged property is secured by two ground leases. One ground lease covers the hotel improvements and the eastern portion of the mortgaged property, and the other ground lease covers the remaining western portion of the mortgaged property, which mostly consists of parking. Both ground leases expire June 30, 2096.
   
(23) The classification of the lockbox types is described in the preliminary prospectus. See “Description of the Mortgage Pool – Lockbox Accounts” for further details.
   
  With respect to Loan Nos. 8, 15 and 16, Landmark Square, Marriott Galleria and Royal Oaks Plaza the respective borrowers may cure an excess cash sweep event caused by a low debt service coverage ratio and/or tenant-related trigger events by providing (i) a letter of credit in an amount that, if used to reduce the outstanding principal amount of the loan, would otherwise prevent or cure such trigger, or (ii) in the case of Landmark Square, a partial payment guaranty in the amount set forth in the loan documents.
   
(24) Refers to (a) debt secured by the mortgaged property, (b) mezzanine debt and (c) preferred equity. See “Description of the Mortgage Pool—Additional Debt—Mezzanine Indebtedness,” “—Future Mezzanine Debt” and “—Preferred Equity” and “Certain Legal Aspects of the Mortgage Loans” in the preliminary prospectus for information related to mortgage loans with subordinate, mezzanine or other additional debt or preferred equity that permit subordinate, mezzanine or other additional debt in the future.
   
  With respect to Loan No. 4, Fresno Fashion Fair Mall, the loan documents permit the borrower to enter into a property assessed clean energy (PACE) loan that is repaid through multi-year assessments against the mortgaged property in an amount not to exceed $10,000,000, subject to the lender’s consent (which may not be unreasonably withheld, conditioned or delayed) and delivery of a rating agency confirmation. The borrower may also incur personal property purchase money financing and leases up to an aggregate amount of not greater than $2,000,000 (except for equipment leases associated with sustainability and environmental initiatives provided the same do not, in and of themselves, secure an aggregate amount in excess of $5,000,000). See “Description of the Mortgage Pool—Additional Debt—Other Secured Indebtedness” in the preliminary prospectus for additional information.
   
  With respect to Loan No. 10, Courtyard Marriott - King Kamehameha, the franchisor committed $1,500,000 in unsecured “key money” financing for development, renovations and operation of the mortgaged property. The franchise agreement obligates the borrower to repay the “key money” only if (i) the franchise agreement is terminated prior to the expiration date of the franchise agreement or (ii) the agreement is assumed in connection with a permitted transfer under the agreement, unless the transferee after such transfer (A) continues to operate as a Marriott; (B) assumes the obligations under the franchise agreement (including the obligation to repay the unamortized portion of the key money); and (C) does not request any modifications to the terms of the franchise agreement that may trigger an obligation by the franchisor to write off on its financial statements the unamortized portion of the key money. In the event the franchisee is required to repay the “key money”, the borrower is required to pay, on or before the effective date of termination, the full amount of the “key money” less than $75,000 for each 12-month period that the agreement is in effect after the payment of the “key money” by the franchisor. See “Description of the Mortgage Pool—Additional Debt—Unsecured Indebtedness” in the preliminary prospectus for additional information.

 

A-1-25