EX-4.3 5 cr642133-ex4_3.txt MORTGAGE LOAN PURCHASE AGREEMENT ================================================================================ CREDIT SUISSE FIRST BOSTON MORTGAGE SECURITIES CORP. (Depositor) and PNC BANK, NATIONAL ASSOCIATION (Seller) -------------------------------------------------------------------------------- MORTGAGE LOAN PURCHASE AGREEMENT Dated as of March 1, 2002 -------------------------------------------------------------------------------- ================================================================================ TABLE OF CONTENTS Page Section 1. Transactions on or Prior to the Closing Date................... Section 2. Closing Date Actions........................................... Section 3. Conveyance of Mortgage Loans................................... Section 4. Depositor's Conditions to Closing.............................. Section 5. Seller's Conditions to Closing................................. Section 6. Representations and Warranties of Seller....................... Section 7. Obligations of Seller.......................................... Section 8. Crossed Loans.................................................. Section 9. Rating Agency Fees; Costs and Expenses Associated with a Defeasance................................................... Section 10. Representations and Warranties of Depositor.................... Section 11. Survival of Certain Representations, Warranties and Covenants.. Section 12. [Reserved]..................................................... Section 13. Expenses; Recording Costs...................................... Section 14. Notices........................................................ Section 15. Examination of Mortgage Files.................................. Section 16. Successors..................................................... Section 17. Governing Law.................................................. Section 18. Severability................................................... Section 19. Further Assurances............................................. Section 20. Counterparts................................................... Section 21. Treatment as Security Agreement................................ Section 22. Recordation of Agreement....................................... Schedule I Schedule of Transaction Terms Schedule II Mortgage Loan Schedule for Column Loans Schedule III Mortgage Loans Constituting Mortgage Groups Schedule IV Mortgage Loans with Lost Mortgage Notes Schedule V Exceptions with Respect to Seller's Representations and Warranties Exhibit A Representations and Warranties of Seller Regarding the Mortgage Loans Exhibit B Form of Lost Mortgage Note Affidavit Exhibit C Form of Assignment of Mortgage(s) and Assignment of Assignment of Lessor's Interests in Leases, Rents and Profits MORTGAGE LOAN PURCHASE AGREEMENT This Mortgage Loan Purchase Agreement (this "Agreement"), dated as of March 1, 2002, is made by and between PNC BANK, NATIONAL ASSOCIATION., a national banking association ("Seller"), and CREDIT SUISSE FIRST BOSTON MORTGAGE SECURITIES CORP., a Delaware corporation (the "Depositor"). RECITALS I. Capitalized terms used herein without definition have the meanings ascribed to them in the Schedule of Transaction Terms attached hereto as Schedule I, which is incorporated herein by this reference, or, if not defined therein, in the Pooling and Servicing Agreement. II. On the Closing Date, and on the terms set forth herein, Seller has agreed to sell to Depositor and Depositor has agreed to purchase from Seller the Mortgage Loans identified on the schedule (the "Mortgage Loan Schedule") annexed hereto as Schedule II. Depositor intends to deposit the Mortgage Loans and other assets into the Trust Fund created pursuant to the Pooling and Servicing Agreement and to cause the issuance of the Certificates. AGREEMENT NOW, THEREFORE, on the terms and conditions set forth below and for good and valuable consideration, the receipt and adequacy of which is hereby acknowledged, Depositor and Seller agree as follows: Section 1. Transactions on or Prior to the Closing Date. On or prior to the Closing Date, Seller shall have delivered the Mortgage Files with respect to each of the Mortgage Loans listed in Schedule II to Wells Fargo Bank Minnesota, N.A. as trustee (the "Trustee"), against receipt by Seller of a trust receipt, pursuant to an arrangement between Seller and the Trustee; provided, however, that item (p) in the definition of Mortgage File (below) shall be delivered to the Master Servicer for inclusion in the Servicer File (defined below) with a copy delivered to the Trustee for inclusion in the Mortgage File. Section 2. Closing Date Actions. The sale of the Mortgage Loans shall take place on the Closing Date, subject to and simultaneously with the deposit of the Mortgage Loans into the Trust Fund, the issuance of the Certificates and the sale of (a) the Offered Certificates by Depositor to the Underwriters pursuant to the Underwriting Agreement and (b) the Private Certificates by Depositor to the Initial Purchaser pursuant to the Certificate Purchase Agreement. The closing (the "Closing") shall take place at the offices of Cadwalader, Wickersham & Taft, 100 Maiden Lane, New York, New York 10038, or such other location as agreed upon between the parties hereto. On the Closing Date, the following actions shall take place in sequential order on the terms set forth herein: (i) Seller shall sell to Depositor, and Depositor shall purchase from Seller, the Mortgage Loans pursuant to this Agreement for the Mortgage Loan Purchase Price payable in accordance with instructions previously provided to Depositor by Seller. The Mortgage Loan Purchase Price (as defined herein) shall be paid by Depositor to Seller or at its direction by wire transfer in immediately available funds to an account designated by Seller on or prior to the Closing Date. The "Mortgage Loan Purchase Price" paid by Depositor shall be equal to $260,582,609.74. (ii) Pursuant to the terms of the Pooling and Servicing Agreement, Depositor shall sell all of its right, title and interest in and to the Mortgage Loans to the Trustee for the benefit of the Holders of the Certificates. (iii) Depositor shall sell to the Underwriters, and the Underwriters shall purchase from Depositor, the Offered Certificates pursuant to the Underwriting Agreement, and Depositor shall sell to the Initial Purchaser, and the Initial Purchaser shall purchase from Depositor, the Private Certificates pursuant to the Certificate Purchase Agreement. (iv) The Underwriters will offer the Offered Certificates for sale to the public pursuant to the Prospectus and the Prospectus Supplement and the Initial Purchaser will privately place certain classes of the Certificates pursuant to the Offering Circular. Section 3. Conveyance of Mortgage Loans. On the Closing Date, Seller shall sell, convey, assign and transfer, subject to that certain Servicing Rights Purchase Agreement, dated as of March 26 , 2002, between the Seller and Midland Loan Services, Inc., without recourse except as provided herein, to Depositor, free and clear of any liens, claims or other encumbrances, all of Seller's right, title and interest in, to and under: (i) each of the Mortgage Loans identified on the Mortgage Loan Schedule; and (ii) all property of Seller described in Section 21(b) this Agreement, including, without limitation, (A) all scheduled payments of interest and principal due on or with respect to the Mortgage Loans after the Cut-off Date and (B) all other payments of interest, principal or prepayment premiums received on or with respect to the Mortgage Loans after the Cut-off Date, other than any such payments of interest or principal or prepayment premiums that were due on or prior to the Cut-off Date. Each Mortgage File shall contain the following documents: (a) the original Note, or with respect to those Mortgage Loans listed in Schedule IV hereto, a "lost note affidavit" substantially in the form of Exhibit B hereto and a true and complete copy of the Note, bearing, or accompanied by, all prior and intervening endorsements or assignments showing a complete chain of endorsement or assignment from the Mortgage Loan Originator either in blank or to the Seller, and further endorsed (at the direction of the Depositor given pursuant to the Mortgage Loan Purchase Agreement) by the Seller, on its face or by allonge attached thereto, without recourse, to the order of the Trustee in the following form: "Pay to the order of Wells Fargo Bank Minnesota, N.A., as trustee for the registered Holders of Credit Suisse First Boston Mortgage Securities Corp., Commercial Mortgage Pass-Through Certificates, Series 2002-CKP1, without recourse, representation or warranty, express or implied;" (b) a duplicate original Mortgage or a counterpart thereof or, if such Mortgage has been returned by the related recording office, (A) an original, (B) a certified copy or (C) a copy thereof from the applicable recording office and originals or counterparts (or originals or copies of certified copies from the applicable recording office) of any intervening assignments thereof from the Mortgage Loan Originator to the Seller, in each case in the form submitted for recording or, if recorded, with evidence of recording indicated thereon; (c) an original Assignment of Mortgage substantially in the form of Exhibit C hereto (or an alternative form approved by the Depositor) in recordable form, either in blank or from the Seller (or the Mortgage Loan Originator) to "Wells Fargo Bank Minnesota, N.A., as trustee for the registered Holders of Credit Suisse First Boston Mortgage Securities Corp., Commercial Mortgage Pass-Through Certificates, Series 2002-CKP1;" (d) an original, counterpart or copy of any related Assignment of Leases (if such item is a document separate from the Mortgage) and the originals, counterparts or copies of any intervening assignments thereof from the Mortgage Loan Originator of the Loan to the Seller, in each case in the form submitted for recording or, if recorded, with evidence of recording thereon; (e) an original assignment of any related Assignment of Leases (if such item is a document separate from the Mortgage), substantially in the form of Exhibit C hereto (or an alternative form approved by the Depositor) in recordable form, either in blank or from the Seller (or the Mortgage Loan Originator) to "Wells Fargo Bank Minnesota, N.A., as trustee for the registered Holders of Credit Suisse First Boston Mortgage Securities Corp., Commercial Mortgage Pass-Through Certificates, Series 2002-CKP1;" (f) an original or true and complete copy of any related Security Agreement (if such item is a document separate from the Mortgage) and the originals or copies of any intervening assignments thereof from the Mortgage Loan Originator to the Seller; (g) an original assignment of any related Security Agreement (if such item is a document separate from the Mortgage), either in blank or from the Seller (or the Mortgage Loan Originator) to "Wells Fargo Bank Minnesota, N.A., as trustee for the registered Holders of Credit Suisse First Boston Mortgage Securities Corp., Commercial Mortgage Pass-Through Certificates, Series 2002-CKP1," which assignment may be included as part of an omnibus assignment covering other documents relating to the Mortgage Loan provided that such omnibus assignment is effective under applicable law; (h) originals or copies of all (A) assumption agreements, (B) modifications, (C) written assurance agreements and (D) substitution agreements, together with any evidence of recording thereon or in the form submitted for recording, in those instances where the terms or provisions of the Mortgage, Note or any related security document have been modified or the Mortgage Loan has been assumed; (i) the original lender's title insurance policy or a copy thereof (together with all endorsements or riders that were issued with or subsequent to the issuance of such policy), or if the policy has not yet been issued, a binding written commitment (which may be a pro forma or specimen title insurance policy which has been accepted or approved in writing by the related title insurance company) or interim binder that is marked as binding and countersigned by the title company, insuring the priority of the Mortgage as a first lien on the related Mortgaged Property, relating to such Mortgage Loan; (j) the original or a counterpart of any guaranty of the obligations of the Borrower under the Mortgage Loan; (k) certified or other copies of all UCC Financing Statements and continuation statements which show the filing or recording thereof or copies thereof in the form submitted for filing or recording sufficient to perfect (and maintain the perfection of) the security interest held by the Mortgage Loan Originator (and each assignee prior to the Trustee) in and to the personalty of the Borrower at the Mortgaged Property, and original UCC assignments in a form suitable for filing or recording, sufficient to transfer such security interest to the Trustee; (l) the original or copy of the power of attorney (with evidence of recording thereon) granted by the Borrower if the Mortgage, Note or other document or instrument referred to above was not signed by the Borrower; (m) with respect to any debt of a Borrower permitted under the related Mortgage Loan, an original or copy of a subordination agreement, standstill agreement or other intercreditor agreement relating to such other debt, if any, including any mezzanine loan documents or preferred equity documents; (n) if any related Lock-Box Agreement or Cash Collateral Agreement is separate from the Mortgage or Loan Agreement, a copy thereof; with respect to the Cash Collateral Accounts and Lock-Box Accounts, if any, a copy of the UCC-1 financing statements, if any, submitted for filing with respect to the Seller's security interest in the Cash Collateral Accounts and Lock-Box Accounts and all funds contained therein (and UCC-2 or UCC-3 financing statement assignments assigning such security interest to the Trustee on behalf of the Certificateholders); (o) an original or counterpart of the Loan Agreement (if separate from the Mortgage); (p) the originals of letters of credit, if any, relating to the Mortgage Loans, and amendments thereto which entitles the Trust to draw thereon; (q) the original environmental indemnity agreement, if any, related to the Mortgage Loan; (r) any related environmental insurance policies and any environmental guaranty or indemnity agreements or copies thereof; (s) the original ground lease, if any, and any amendments, modifications or extensions thereto, and any ground lease estoppel, or a certified copy thereof; and (t) any additional documents required to be added to the Mortgage File pursuant to the Pooling and Servicing Agreement. Notwithstanding the foregoing, in the event that, in connection with any Mortgage Loan listed on Schedule II hereto, the Seller cannot deliver, or cause to be delivered, an original, counterpart or certified copy of any of the documents required to be delivered pursuant to clauses (b), (d), (h), (k) (other than assignments of UCC financing statements to be recorded or filed in accordance with the transfer contemplated by this Agreement), (l) and (n) (other than assignments of UCC financing statements to be recorded or filed in accordance with the transfer contemplated by this Agreement) above with evidence of recording or filing thereon on the Closing Date, solely because of a delay caused by the public recording or filing office where such document or instrument has been delivered for recordation or filing, the Seller shall deliver, or cause to be delivered, to the Trustee a duplicate original or true copy of such document certified by the applicable public recording or filing office, the applicable title insurance company or the Seller to be a true and complete duplicate original or copy of the original thereof submitted for recording or filing. Notwithstanding the foregoing, in the event that, in connection with any Mortgage Loan listed on Schedule II hereto, the Seller cannot deliver, or cause to be delivered, an original, counterpart or certified copy of any of the documents required to be delivered pursuant to clauses (b), (d), (h), (k) (other than assignments of UCC financing statements to be recorded or filed in accordance with the transfer contemplated by this Agreement), (l) and (n) (other than assignments of UCC financing statements to be recorded or filed in accordance with the transfer contemplated by this Agreement) above with evidence of recording or filing thereon, for any other reason, including without limitation, that such non-delivered document has been lost, the delivery requirements of this Agreement shall be deemed to have been satisfied and such non-delivered document shall be deemed to have been included in the related Mortgage File if a photocopy of such non-delivered document (with evidence of recording or filing thereon and certified by the appropriate recording or filing office to be a true and complete copy of the original thereof as filed or recorded) is delivered to the Trustee on or before the Closing Date. Notwithstanding the foregoing, in the event that the Seller cannot deliver to the Trustee any UCC-2 or UCC-3 assignment with the filing information of the UCC-1 financing statement with respect to any Mortgage Loan listed on Schedule II hereto being assigned, solely because such UCC-1 financing statement has not been returned by the public filing office where such UCC-1 financing statement has been delivered for filing, Seller shall deliver or cause to be delivered to the Trustee a photocopy of such UCC-2 or UCC-3 assignment with the filing information left blank. The Seller, promptly upon receipt of the applicable filing information of the UCC-1 financing statement being so assigned, shall deliver or cause to be delivered to the Trustee the original UCC-2 or UCC-3 assignment with all appropriate filing information set forth thereon. Notwithstanding the foregoing, Seller may, at its sole cost and expense, engage a third party contractor to prepare or complete in proper form for filing or recording any and all Assignments of Mortgage, assignments of Assignments of Leases and assignments of UCC financing statements to the Trustee to be delivered pursuant to clauses (c), (e), (k) and (n) above (collectively, the "Assignments"), to submit the Assignments for filing and recording, as the case may be, in the applicable public filing and recording offices and to deliver the Assignments to the Trustee or its designee as the Assignments (or certified copies thereof) are received from the applicable filing and recording offices with evidence of such filing or recording indicated thereon; provided, however, that in the event the Seller engages a third party contractor as contemplated in the immediately preceding sentence, the rights, duties and obligations of the Seller pursuant to this Agreement remain binding on such Seller. Within ten (10) Business Days after the Closing Date, the Seller shall deliver the Servicer Files with respect to each of the Mortgage Loans listed on Schedule II hereto to the Master Servicer or, a Primary Servicer (with a copy to the Master Servicer) under the direction of the Master Servicer, under the Pooling and Servicing Agreement on behalf of the Trustee in trust for the benefit of the Certificateholders. Each such Servicer File shall contain all documents and records in the Seller's possession relating to such applicable Mortgage Loans (including reserve and escrow agreements, cash management agreements, lockbox agreements, financial statements and any other information provided by the respective Borrower from time to time, but excluding documents prepared by the Seller or any of its Affiliates solely for internal communication) that are not required to be a part of a Mortgage File in accordance with the definition thereof, together with copies of all instruments and documents which are required to be a part of the related Mortgage File in accordance with the definition thereof. For purposes of this Section 3, and notwithstanding any contrary provision hereof or of the definition of "Mortgage File", if there exists with respect to any group of Crossed Loans only one original or certified copy of any document or instrument described in the definition of "Mortgage File" which pertains to all of the Crossed Loans in such group of Crossed Loans, the inclusion of the original or certified copy of such document or instrument in the Mortgage File for any of such Crossed Loans and the inclusion of a copy of such original or certified copy in each of the Mortgage Files for the other Crossed Loans in such group of Crossed Loans, shall be deemed the inclusion of such original or certified copy, as the case may be, in the Mortgage File for each such Crossed Loan. The Trustee, as assignee or transferee of Depositor, shall be entitled to all scheduled principal payments due after the Cut-off Date, all other payments of principal due and collected after the Cut-off Date, and all payments of interest on the Mortgage Loans, minus that portion of any such payment which is allocable to the period on or prior to the Cut-off Date. All scheduled payments of principal due on or before the Cut-off Date and collected after the Cut-off Date, together with the accompanying interest payments, shall belong to Seller. Upon the sale of the Mortgage Loans from Seller to Depositor pursuant hereto, the ownership of each Mortgage Note, the Mortgage and the contents of the related Mortgage File shall be vested in Depositor and the ownership of all records and documents with respect to the related Mortgage Loan prepared by or which come into the possession of Seller as seller of the Mortgage Loans hereunder, exclusive in each case of documents prepared by Seller or any of its affiliates solely for internal uses, shall immediately vest in Depositor. All Monthly Payments, Principal Prepayments and other amounts received by Seller and not otherwise belonging to Seller pursuant to this Agreement shall be sent by Seller within three (3) Business Days after Seller's receipt thereof to the Master Servicer via wire transfer for deposit by the Master Servicer into the Collection Account. Section 4. Depositor's Conditions to Closing. The obligations of Depositor to purchase the Mortgage Loans and pay the Mortgage Loan Purchase Price at the Closing Date under the terms of this Agreement are subject to the satisfaction of each of the following conditions at or before the Closing: (a) Each of the obligations of the Seller required to be performed by it on or prior to the Closing Date pursuant to the terms of this Agreement shall have been duly performed and complied with in all material respects; all of the representations and warranties of Seller under this Agreement shall be true and correct in all material respects as of the Closing Date; and no event shall have occurred with respect to the Seller or any of the Mortgage Loans and related Mortgage Files which, with notice or the passage of time, would constitute a material default under this Agreement; and Depositor shall have received certificates to the foregoing effect signed by authorized officers of Seller. (b) Depositor, or if directed by Depositor, the Trustee or the Depositor's attorneys, shall have received in escrow, all of the following closing documents, in such forms as are agreed upon and reasonably acceptable to the Depositor and the Seller, duly executed by all signatories other than Depositor, as required pursuant to the respective terms thereof: (i) the Mortgage Files, subject to the proviso of Section 1 of this Agreement, which shall have been delivered to and held by the Trustee on behalf of Seller; (ii) the Mortgage Loan Schedule; (iii) the certificate of the Seller confirming its representations and warranties set forth in Section 6 as of the Closing Date; (iv) an opinion or opinions of Seller's counsel, dated the Closing Date, in form acceptable to the Depositor as to various corporate matters and such other matters as shall be reasonably required by the Depositor. Such opinion may express its reliance as to factual matters on, among other things specified in such opinion, the representations and warranties made herein, and on certificates or other documents furnished by officers of Seller. In rendering the opinions expressed above, such counsel may limit such opinions to matters governed by the laws of the State of New York and the United States and shall not be required to express any opinion with respect to the registration or qualification of the Certificates under any applicable state or federal securities laws. Such counsel shall state that, although such counsel has not specifically considered the possible applicability to Seller of any other laws, regulations, judgments, orders or decrees, no facts have been disclosed to such counsel that cause such counsel to conclude that any other consent, approval or action is required; (v) such other certificates of Seller's officers or others and such other documents to evidence fulfillment of the conditions set forth in this Agreement as Depositor or its counsel may reasonably request. (vi) all other information, documents, certificates, or letters with respect to the Mortgage Loans or the Sellers and their Affiliates as are reasonably requested by the Depositor in order for the Depositor to perform any of it obligations or satisfy any of the conditions on its part to be performed or satisfied pursuant to any sale of Mortgage Loans by the Depositor as contemplated herein; (c) The Seller shall have performed or complied with all other terms and conditions of this Agreement which it is required to perform or comply with at or before the Closing and shall have the ability to perform or comply with all duties, obligations, provisions and terms which it is required to perform or comply with after the Closing. (d) The Seller shall have delivered to the Trustee, on or before the Closing Date, five limited powers of attorney in favor of the Trustee and Special Servicer empowering the Trustee and, in the event of the failure or incapacity of the Trustee, the Special Servicer, to record, at the expense of the Seller, any Mortgage Loan Documents required to be recorded and any intervening assignments with evidence of recording thereon that are required to be included in the Mortgage Files. The Seller shall reasonably cooperate with the Trustee and the Special Servicer in connection with any additional powers or revisions thereto that are requested by such parties. Section 5. Seller's Conditions to Closing. The obligations of Seller under this Agreement shall be subject to the satisfaction, on the Closing Date, of the following conditions: (a) Each of the obligations of Depositor required to be performed by it on or prior to the Closing Date pursuant to the terms of this Agreement shall have been duly performed and complied with in all material respects; and all of the representations and warranties of Depositor under this Agreement shall be true and correct in all material respects as of the Closing Date; and no event shall have occurred with respect to Depositor which, with notice or the passage of time, would constitute a material default under this Agreement, and Seller shall have received certificates to that effect signed by authorized officers of Depositor. (b) Seller shall have received all of the following closing documents, in such forms as are agreed upon and reasonably acceptable to Seller and Depositor, duly executed by all signatories other than Seller, as required pursuant to the respective terms thereof: (A) an officer's certificate of Depositor, dated as of the Closing Date, with the resolutions of Depositor authorizing the transactions set forth therein, together with copies of the charter, by-laws and certificate of good standing dated as of a recent date of Depositor; (B) such other certificates of its officers or others, such opinions of Depositor's counsel and such other documents required to evidence fulfillment of the conditions set forth in this Agreement as Seller or its counsel may reasonably request; and (c) The Depositor shall have performed or complied with all other terms and conditions of this Agreement which it is required to perform or comply with at or before the Closing and shall have the ability to perform or comply with all duties, obligations, provisions and terms which it is required to perform or comply with after Closing. Section 6. Representations and Warranties of Seller. (a) Seller represents and warrants to Depositor as of the date hereof, as follows: (i) Seller is duly organized and is validly existing as a national banking association in good standing under the laws of the United States of America. Seller has conducted and is conducting its business so as to comply in all material respects with all applicable statutes and regulations of regulatory bodies or agencies having jurisdiction over it, except where the failure so to comply would not have a materially adverse effect on the performance by Seller of this Agreement, and there is no charge, action, suit or proceeding before or by any court, regulatory authority or governmental agency or body pending or, to the knowledge of Seller, threatened, which is reasonably likely to materially and adversely affect the performance by Seller of this Agreement or the consummation of transactions contemplated by this Agreement. (ii) Seller has the full power, authority and legal right to hold, transfer and convey the Mortgage Loans owned by it and to execute and deliver this Agreement (and all agreements and documents executed and delivered by Seller in connection herewith) and to perform all transactions of Seller contemplated by this Agreement (and all agreements and documents executed and delivered by Seller in connection herewith). Seller has duly authorized the execution, delivery and performance of this Agreement (and all agreements and documents executed and delivered by Seller in connection herewith), and has duly executed and delivered this Agreement (and all agreements and documents executed and delivered by Seller in connection herewith). This Agreement (and each agreement and document executed and delivered by Seller in connection herewith), assuming due authorization, execution and delivery thereof by each other party thereto, constitutes the legal, valid and binding obligation of Seller enforceable in accordance with its terms, except as such enforcement may be limited by bankruptcy, fraudulent transfer, insolvency, reorganization, receivership, moratorium or other laws relating to or affecting the rights of creditors generally, by general principles of equity (regardless of whether such enforcement is considered in a proceeding in equity or at law) and by considerations of public policy. (iii) Neither the execution, delivery and performance of this Agreement, nor the fulfillment of or compliance with the terms and conditions of this Agreement by Seller, will (a) conflict with or result in a breach of any of the terms, conditions or provisions of Seller's articles of association, as amended, or other organizational documents; (b) conflict with, result in a breach of, or constitute a default or result in an acceleration under, any agreement or instrument to which Seller is now a party or by which it (or any of its properties) is bound if compliance therewith is necessary (1) to ensure the enforceability of this Agreement or (2) for Seller to perform its duties and obligations under this Agreement (or any agreement or document executed and delivered by Seller in connection herewith); (c) conflict with or result in a breach of any legal restriction if compliance therewith is necessary (1) to ensure the enforceability of this Agreement or (2) for Seller to perform its duties and obligations under this Agreement (or any agreement or document executed and delivered by Seller in connection herewith); (d) result in the violation of any law, rule, regulation, order, judgment or decree to which Seller or its property is subject if compliance therewith is necessary (1) to ensure the enforceability of this Agreement or (2) for Seller to perform its duties and obligations under this Agreement (or any agreement or document executed and delivered by Seller in connection herewith); or (e) result in the creation or imposition of any lien, charge or encumbrance that would have a material adverse effect upon Seller's ability to perform its duties and obligations under this Agreement (or any agreement or document executed and delivered by Seller in connection herewith), or materially impair the ability of the Depositor to realize on the Mortgage Loans owned by Seller. (iv) Seller is solvent and the sale of Mortgage Loans (1) will not cause Seller to become insolvent and (2) is not intended by Seller to hinder, delay or defraud any of its creditors. (v) No consent, approval, authorization or order of, or registration or filing with, or notice to, any court or governmental agency or body having jurisdiction or regulatory authority over Seller is required for (a) Seller's execution, delivery and performance of this Agreement (and each agreement and document executed and delivered by Seller in connection herewith), (b) Seller's transfer and assignment of the Mortgage Loans owned by it, or (c) the consummation by Seller of the transactions contemplated by this Agreement (and each agreement and document executed and delivered by Seller in connection herewith) or, to the extent so required, such consent, approval, authorization, order, registration, filing or notice has been obtained, made or given (as applicable), except that Seller may not be duly qualified to transact business as a foreign corporation or licensed in one or more states if such qualification or licensing is not necessary to ensure the enforceability of this Agreement (or any agreement or document executed and delivered by Seller in connection herewith). (vi) The consideration received by Seller upon the sale of the Mortgage Loans owned by it constitutes fair consideration and reasonably equivalent value for such Mortgage Loans. (vii) Seller does not believe, nor does it have any reason or cause to believe, that it cannot perform each and every covenant of Seller contained in this Agreement (or any agreement or document executed and delivered by Seller in connection herewith). (viii) There are no actions, suits proceedings pending or to Seller's knowledge threatened in writing against Seller which are reasonably likely to draw into question the validity of this Agreement (or any agreement or document executed and delivered by Seller in connection herewith) or which, either in any one instance or in the aggregate, are reasonably likely to materially impair the ability of Seller to perform its duties and obligations under this Agreement (or any agreement or document executed and delivered by Seller in connection herewith). (ix) Seller's performance of its duties and obligations under this Agreement (and each agreement or document executed and delivered by Seller in connection herewith) is in the ordinary course of business of Seller and Seller's transfer, assignment and conveyance of the Mortgage Loans owned by it pursuant to this Agreement are not subject to the bulk transfer or similar statutory provisions in effect in any applicable jurisdiction. (x) Seller has not dealt with any Person that may be entitled, by reason of any act or omission of Seller, to any commission or compensation in connection with the sale of the Mortgage Loans owned by it to the Depositor hereunder except for the reimbursement of expenses as described herein or otherwise in connection with the transactions described in Section 2 and the commissions or compensation owed to the Underwriters or the Initial Purchaser. (xi) Seller is not in default or breach of any agreement or instrument to which Seller is now a party or by which it (or any of its properties) is bound which breach or default would materially and adversely affect the ability of Seller to perform its obligations under this Agreement. (xii) The representations and warranties contained in Exhibit A and the exceptions to such representations and warranties set forth on Schedule V hereto are true and correct in all material respects as of the date hereof with respect to the Mortgage Loans identified on Schedule II. Section 7. Obligations of Seller. Each of the representations and warranties contained in or required to be made by Seller pursuant to Section 6 of this Agreement shall survive the sale of the Mortgage Loans and shall continue in full force and effect, notwithstanding any restrictive or qualified endorsement on the Notes and notwithstanding subsequent termination of this Agreement or the Pooling and Servicing Agreement. The representations and warranties contained in or required to be made by Seller pursuant to Section 6 of this Agreement shall not be impaired by any review or examination of the Mortgage Files or other documents evidencing or relating to the Mortgage Loans or any failure on the part of Depositor to review or examine such documents and shall inure to the benefit of the initial transferee of the Mortgage Loans from Depositor including, without limitation, the Trustee for the benefit of the Holders of the Certificates, notwithstanding (1) any restrictive or qualified endorsement on any Note, Assignment of Mortgage or reassignment of Assignment of Leases or (2) any termination of this Agreement prior to the Closing but shall not inure to the benefit of any subsequent transferee thereafter. If any Certificateholder, the Master Servicer, the Special Servicer or the Trustee discovers or receives notice: of a breach of any of the representations or warranties made by the Seller with respect to the Mortgage Loans listed on Schedule II hereto, as of the date hereof in Section 6(a)(xii) or as of the Closing Date pursuant to Section 4(b)(iii) (a "Breach"); or that (a) any document required to be included in the Mortgage File related to any Mortgage Loan listed on Schedule II hereto is not in the Trustee's possession within the time period required herein or (b) such document has not been properly executed or is otherwise defective on its face (subsection (a) and (b) each, a "Defect" (including the "Defects" described below) in the related Mortgage File), such party shall give notice to the Master Servicer, the Special Servicer, the Trustee and the Rating Agencies. If the Master Servicer or the Special Servicer determines that such Breach or Defect materially and adversely affects the value of any Mortgage Loan or the interests of the Certificateholders therein, it shall give prompt written notice of such Breach or Defect to the Depositor, the Trustee, the Master Servicer, the Special Servicer and the Seller and shall request that the Seller not later than the earlier of 90 days from the receipt by the Seller of such notice or discovery by the Seller of such Breach or Defect (subject to the second succeeding paragraph, the "Initial Resolution Period"), (i) cure such Breach or Defect in all material respects; (ii) repurchase the affected Mortgage Loan at the applicable Purchase Price (as defined in the Pooling and Servicing Agreement) or (iii) substitute one or more Qualified Substitute Mortgage Loans (as defined in the Pooling and Servicing Agreement) for such affected Mortgage Loan (provided that in no event shall any substitution occur later than the second anniversary of the Closing Date) and pay the Master Servicer for deposit into the Collection Account any Substitution Shortfall Amount (as defined in the Pooling and Servicing Agreement) in connection therewith; provided, however, that if (i) such material Breach or material Defect is capable of being cured but not within the Initial Resolution Period, (ii) such material Breach or material Defect does not cause the related Mortgage Loan not to be a "qualified mortgage" (within the meaning of Section 860G(a)(3) of the Code), (iii) the Seller has commenced and is diligently proceeding with the cure of such material Breach or material Defect within the Initial Resolution Period and (iv) the Seller has delivered to the Rating Agencies and the Trustee an Officer's Certificate that describes the reasons that the cure was not effected within the Initial Resolution Period and the actions that it proposes to take to effect the cure and that states that it anticipates the cure will be effected within the additional 90-day period, then the Seller shall have an additional 90 days to cure such material Defect or material Breach. With respect to any substitution of one or more Qualified Substitute Mortgage Loans for a Mortgage Loan hereunder, (A) no such substitution may be made in any calendar month after the Determination Date for such month; (B) scheduled payments of principal and interest due with respect to the Qualified Substitute Mortgage Loan(s) after the related date of substitution shall be part of the Trust Fund; and (C) scheduled payments of principal and interest due with respect to such Qualified Substitute Mortgage Loan(s) on or prior to the related date of substitution shall not be part of the Trust Fund, and the Seller shall be entitled to receive such payments promptly following receipt by the Master Servicer or Special Servicer, as applicable, under the Pooling and Servicing Agreement. Any of the following will cause a document in the Mortgage File to be deemed to have a "Defect" and to be conclusively presumed to materially and adversely affect the interests of Certificateholders in a Mortgage Loan and to be deemed to materially and adversely affect the interest of the Certificateholders in and the value of a Mortgage Loan: (a) the absence from the Mortgage File of the original signed Note, unless the Mortgage File contains a signed lost note affidavit and indemnity; (b) the absence from the Mortgage File of the original signed Mortgage, unless there is included in the Mortgage File a certified copy of the Mortgage as recorded or as sent for recordation, together with a certificate stating that the original signed Mortgage was sent for recordation, or a copy of the Mortgage and the related recording information; (c) the absence from the Mortgage File of the item called for by paragraph (ix) of the definition of Mortgage File contained in the Pooling and Servicing Agreement; (d) the absence from the Mortgage File of any intervening assignments required to create an effective assignment to the Trustee on behalf of the Trust, unless there is included in the Mortgage File a certified copy of the intervening assignment and a certificate stating that the original intervening assignments were sent for recordation; or (e) the absence from the Servicer File of any required original letter of credit (as required in the proviso to Section 1 hereof), provided that such Defect may be cured by any substitute letter of credit or cash reserve or (f) the absence from the Mortgage File of any required ground lease. Any Defect or Breach which causes any Mortgage Loan not to be a "qualified mortgage" (within the meaning of Section 860G(a)(3) of the Code) shall be deemed to materially and adversely affect the interest of Certificateholders therein and the Initial Resolution Period for the affected Mortgage Loan shall be 90 days following the earlier of the Seller's receipt of notice pursuant to this Section 7 or its discovery of such Defect or Breach (which period shall not be subject to extension). If the Seller does not, as required by this Section 7, correct or cure a material Breach or a material Defect in all material respects within the applicable Initial Resolution Period (as extended pursuant to this Section 7), or if such Breach or Defect is not capable of being so corrected or cured with such period, then the Seller shall purchase or substitute for the affected Mortgage Loan as provided in this Section 7. If (i) any Mortgage Loan is required to be repurchased or substituted for as provided above, (ii) such Mortgage Loan is a Crossed Loan that is a part of a Mortgage Group (as defined below) and (iii) the applicable Breach or Defect does not constitute a Breach or Defect, as the case may be, as to any other Crossed Loan in such Mortgage Group (without regard to this paragraph), then the applicable Breach or Defect, as the case may be, will be deemed to constitute a Breach or Defect, as the case may be, as to any other Crossed Loan in the Mortgage Group for purposes of the above provisions, and the Seller will be required to repurchase or substitute for such other Crossed Loan(s) in the related Mortgage Group in accordance with the provisions of this Section 7 unless such other Crossed Loans satisfy the Crossed Loan Repurchase Criteria (as defined in the Pooling and Servicing Agreement) and satisfy all other criteria for substitution or repurchase of Mortgaged Property set forth in the Pooling and Servicing Agreement. In the event that one or more of such other Crossed Loans satisfy the Crossed Loan Repurchase Criteria, the Seller may elect either to repurchase or substitute for only the affected Crossed Loan as to which the related Breach or Defect exists or to repurchase or substitute for all of the Crossed Loans in the related Mortgage Group. The Seller shall be responsible for the cost of any Appraisal required to be obtained by the Master Servicer to determine if the Crossed Loan Repurchase Criteria have been satisfied, so long as the scope and cost of such Appraisal has been approved by the Seller (such approval not to be unreasonably withheld). For purposes of this paragraph, a "Mortgage Group" is any group of Mortgage Loans identified as a Mortgage Group on Schedule III to this Agreement. Notwithstanding the foregoing, if there is a material Breach or material Defect with respect to one or more Mortgaged Properties (but not all of the Mortgaged Properties) with respect to a Mortgage Loan, the Seller will not be obligated to repurchase or substitute for the Mortgage Loan if the affected Mortgaged Property may be released pursuant to the terms of any partial release provisions in the related Mortgage Loan Documents and the remaining Mortgaged Property(ies) satisfy the requirements, if any, set forth in the Mortgage Loan Documents and (i) the Seller provides an opinion of counsel to the effect that such partial release would not cause an Adverse REMIC Event (as defined in the Pooling and Servicing Agreement) to occur, (ii) such Seller pays (or causes to be paid) the applicable release price required under the Mortgage Loan Documents, and to the extent not reimbursable out of the release price pursuant to the related Mortgage Loan Documents, together with any additional amounts necessary to cover all reasonable out-of-pocket expenses reasonably incurred by the Master Servicer, the Special Servicer, the Trustee or the Trust Fund in connection therewith, including any unreimbursed advances and interest thereon made with respect to the Mortgaged Property which, is being released and (iii) such cure by release of such Mortgaged Property is effected within the time periods specified for cure of a Material Breach or Material Defect in Section 2.03(b) of the Pooling and Servicing Agreement. The Purchase Price or Substitution Shortfall Amount for any repurchased or substituted Mortgage Loan shall be payable to the Depositor or, subsequent to the assignment of the Mortgage Loans to the Trustee, the Trustee as its assignee, by wire transfer of immediately available funds to the account designated by the Depositor or the Trustee, as the case may be, and the Depositor or the Trustee, as the case may be, upon receipt of such funds, shall promptly release the related Mortgage File and Servicer File or cause them to be released, to Seller and shall execute and deliver such instruments of transfer or assignment as shall be necessary to vest in the Seller the legal and beneficial ownership of such Mortgage Loan (including any property acquired in respect thereof or proceeds of any insurance policy with respect thereto) and the related Mortgage Loan Documents. It is understood and agreed that the obligations of the Seller set forth in this Section 7 to cure, substitute for or repurchase a Mortgage Loan listed on Schedule II hereto constitute the sole remedies available to the Depositor and its successors and assigns respecting any Breach or Defect affecting such Mortgage Loan. Section 8. Crossed Loans. With respect to any Crossed Loan conveyed hereunder, to the extent that the Seller repurchases or substitutes for an affected Crossed Loan in the manner prescribed above while the Trustee continues to hold any related Crossed Loans, the Seller and the Depositor (on behalf of its successors and assigns) agree to modify upon such repurchase or substitution, the related Loan Documents in a manner such that such affected Crossed Loan repurchased or substituted by the Seller, on the one hand, and any related Crossed Loans still held by the Trustee, on the other, would no longer be cross-defaulted or cross-collateralized with one another; provided, that the Seller shall have furnished to the Trustee, at its expense, with an Opinion of Counsel that such modification shall not cause an Adverse REMIC Event; provided, further, that if such Opinion cannot be furnished, the Seller and the Depositor hereby agree that such repurchase or substitution of only the affected Crossed Loans, notwithstanding anything to the contrary herein, shall not be permitted. Any reserve or other cash collateral or letters of credit securing the Crossed Loans shall be allocated between such Mortgage Loans in accordance with the Mortgage Loan Documents. All other terms of the Mortgage Loans shall remain in full force and effect, without any modification thereof. Section 9. Rating Agency Fees; Costs and Expenses Associated with a Defeasance. The Seller shall pay all Rating Agency fees associated with an assumption of a Mortgage Loan to the extent such fees have not been paid by the related Borrower and such Borrower is not required to pay them under the terms of the related Mortgage Loan Documents in effect on or before the Closing Date. The Seller shall pay all reasonable costs and expenses associated with a defeasance of a Mortgage Loan to the extent such costs and expenses have not been paid by the related Borrower and such Borrower is not required to pay them under the terms of the related Mortgage Loan Documents in effect on or before the Closing Date. Section 10. Representations and Warranties of Depositor. Depositor hereby represents and warrants to Seller as of the date hereof, as follows: (a) Depositor is duly organized and is validly existing as a corporation in good standing under the laws of the State of Delaware, with full corporate power and authority to own its assets and conduct its business as it is conducted, and is duly qualified as a foreign corporation in good standing in all jurisdictions in which the ownership or lease of its property or the conduct of its business requires such qualification (except where the failure to qualify would not have a materially adverse effect on the consummation of any transactions contemplated by this Agreement). (b) The execution and delivery by Depositor of this Agreement and the performance of Depositor's obligations hereunder are within the corporate power of Depositor and have been duly authorized by Depositor and neither the execution and delivery by Depositor of this Agreement nor the compliance by Depositor with the provisions hereof, nor the consummation by Depositor of the transactions contemplated by this Agreement, will (i) conflict with or result in a breach of, or constitute a default under, the certificate of incorporation or by-laws of Depositor or, after giving effect to the consents or taking of the actions contemplated by clause (ii) of this paragraph (b), any of the provisions of any law, governmental rule, regulation, judgment, decree or order binding on Depositor or its properties, or any of the provisions of any material indenture or mortgage or any other material contract or other instrument to which Depositor is a party or by which it is bound or result in the creation or imposition of any lien, charge or encumbrance upon any of its properties pursuant to the terms of any such indenture, mortgage, contract or other instrument or (ii) require the consent of or notice to, or any filing with any person, entity or governmental body, which has not been obtained or made by Depositor, except where, in any of the instances contemplated by clause (i) above or this clause (ii), the failure to do so will not have a material and adverse effect on the consummation of any transactions contemplated by this Agreement. (c) This Agreement has been duly executed and delivered by Depositor and this Agreement constitutes a legal, valid and binding instrument, enforceable against Depositor in accordance with its terms, subject, as to the enforcement of remedies, to applicable bankruptcy, reorganization, insolvency, moratorium and other laws affecting the rights of creditors generally and to general principles of equity and the discretion of the court (regardless of whether enforcement of such remedies is considered in a proceeding in equity or at law) and, as to rights of indemnification hereunder, subject to limitations of public policy under applicable securities laws. (d) There is no litigation, charge, investigation, action, suit or proceeding by or before any court, regulatory authority or governmental agency or body pending or, to the knowledge of Depositor, threatened against Depositor the outcome of which could be reasonably expected to materially and adversely affect the consummation of any transactions contemplated by this Agreement. Section 11. Survival of Certain Representations, Warranties and Covenants. The respective representations and warranties set forth in or made pursuant to this Agreement, and the respective obligations of the parties hereto under Sections 7 and 11 of this Agreement, will remain in full force and effect, regardless of any investigation or statement as to the result thereof made by or on behalf of any party and will survive payment for the various transfers referred to herein and delivery of the Certificates or termination of this Agreement. Section 12. [Reserved] Section 13. Expenses; Recording Costs. Seller agrees to reimburse the Trustee or its designee all recording and filing fees incurred by the Trustee or its designee in connection with the recording or filing of the Mortgage Loan Documents listed in Section 3 of this Agreement. In the event Seller elects to engage a third party contractor to prepare, complete, file and record Assignments with respect to Mortgage Loans as provided in Section 3, Seller shall contract directly with such contractor and shall be responsible for such contractor's compensation and reimbursement of recording and filing fees and other reimbursable expenses pursuant to their agreement. Section 14. Notices. All communications hereunder will be in writing and effective only upon receipt, and, (a) if sent to Depositor, will be mailed, delivered or telecopied and confirmed to it at Credit Suisse First Boston Mortgage Securities Corp., Eleven Madison Avenue, 5th Floor, New York, New York 10010, Attention: Allan J. Baum, Telecopy No.: (212) 325-8162; and (b) if sent to Seller, will be mailed, delivered or telecopied to it at PNC Bank, National Association, 210 West 10th Street, Kansas City, Missouri 64105, Attention: Harry Funk, Telecopy No.: (816) 346-5320, or in the case of any such party, to such other address or telecopy number as such party may hereafter furnish to the other party by like notice. Section 15. Examination of Mortgage Files. Upon reasonable notice, Seller, prior to the Closing Date, will make the Mortgage Files available to Depositor or its agent for examination during normal business hours at Seller's offices or such other location as shall otherwise be agreed upon by Depositor and Seller. The fact that Depositor or its agent has conducted or has failed to conduct any partial or complete examination of the Mortgage Files shall not affect the rights of Depositor or the Trustee (for the benefit of the Certificateholders) to demand cure, repurchase, or other relief as provided herein. Section 16. Successors. This Agreement shall inure to the benefit of and shall be binding upon Seller and Depositor and their respective successors, permitted assigns and legal representatives, and nothing expressed in this Agreement is intended or shall be construed to give any other person any legal or equitable right, remedy or claim under or in respect of this Agreement, or any provisions herein contained, this Agreement and all conditions and provisions hereof being intended to be and being for the sole and exclusive benefit of such persons and for the benefit of no other person; it being understood that (a) the indemnities of Seller contained in that certain Indemnification Agreement dated March 13, 2002 among Seller, Depositor and the Underwriters, subject to all limitations therein contained, shall also be for the benefit of the officers and directors of Depositor, the Underwriters and the Initial Purchaser and any person or persons who control Depositor, the Underwriters and the Initial Purchaser within the meaning of Section 15 of the Securities Act or Section 20 of the 1934 Act, and (b) the rights of Depositor pursuant to this Agreement, subject to all limitations herein contained, including those set forth in Section 7 of this Agreement, may be assigned to the Trustee, for benefit of the Certificateholders, as may be required to effect the purposes of the Pooling and Servicing Agreement and, upon such assignment, the Trustee shall succeed to such rights of Depositor hereunder, provided that the Trustee shall have no right to further assign such rights to any other Person. No owner of a Certificate issued pursuant to the Pooling and Servicing Agreement shall be deemed a successor because of such ownership. Section 17. Governing Law. THIS AGREEMENT SHALL BE GOVERNED AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK APPLICABLE TO AGREEMENTS TO BE MADE AND PERFORMED ENTIRELY WITHIN SUCH STATE WITHOUT GIVING EFFECT TO CHOICE OF LAW PRINCIPLES. Section 18. Severability. If any provision of this Agreement shall be prohibited or invalid under applicable law, this Agreement shall be ineffective only to such extent, without invalidating the remainder of this Agreement. Section 19. Further Assurances. Depositor and Seller agree to execute and deliver such instruments and take such actions as the other parties may, from time to time, reasonably request in order to effectuate the purpose and to carry out the terms of this Agreement. Section 20. Counterparts. This Agreement may be executed in counterparts (and by each of the parties hereto on different counterparts), each of which when so executed and delivered will be an original, and all of which together will be deemed to constitute but one and the same instrument. Section 21. Treatment as Security Agreement. It is the express intent of the parties hereto that the conveyance of the Mortgage Loans by Seller to Depositor as provided in this Agreement be, and be construed as, a sale of the Mortgage Loans by Seller to Depositor. It is, further, not the intention of the parties that such conveyance be deemed a pledge of the Mortgage Loans by Seller to Depositor to secure a debt or other obligation of Seller. However, in the event that, notwithstanding the intent of the parties, the Mortgage Loans are held to be property of Seller or if for any reason this Agreement is held or deemed to create a security interest in the Mortgage Loans: (a) this Agreement shall hereby create a security agreement within the meaning of Articles 8 and 9 of the Uniform Commercial Code in effect in the applicable state; (b) the conveyance provided for in this Agreement shall hereby grant from Seller to Depositor a security interest in and to all of Seller's right, title, and interest, whether now owned or hereafter acquired, in and to: (i) all accounts, contract rights (including any guarantees), general intangibles, chattel paper, instruments, documents, money, deposit accounts, certificates of deposit, goods, letters of credit, advices of credit and investment property consisting of, arising from or relating to any of the property described in the Mortgage Loans, including the related Notes, Mortgages and title, hazard and primary mortgage insurance policies identified on the Mortgage Loan Schedule, including all replacement Mortgage Loans, and all distributions with respect thereto payable after the Cut-off Date; (ii) all accounts, contract rights, general intangibles, chattel paper, instruments, documents, money, deposit accounts, certificates of deposit, goods, letters of credit, advices of credit and investment property arising from or by virtue of the disposition of, or collections with respect to, or insurance proceeds payable with respect to, or claims against other persons with respect to, all or any part of the collateral described in (i) above (including any accrued discount realized on liquidation of any investment purchased at a discount), in each case, payable after the Cut-off Date; and (iii) all cash and non-cash proceeds of the collateral described in (i) and (ii) above payable after the Cut-off Date; (c) the possession by Depositor or its assignee of the Notes and such other goods, letters of credit, advices of credit, instruments, money, documents, chattel paper or certificated securities shall be deemed to be possession by the secured party or possession by a purchaser or a person designated by him or her, for purposes of perfecting the security interest pursuant to the Uniform Commercial Code (including, without limitation, Sections 9-306, 9-313 and 9-314 thereof) as in force in the relevant jurisdiction; and (d) notifications to persons holding such property, and acknowledgments, receipts, confirmations from persons holding such property, shall be deemed to be notifications to, or acknowledgments, receipts or confirmations from, financial intermediaries, bailees or agents of, or persons holding for (as applicable), Depositor or its assignee for the purpose of perfecting such security interest under applicable law. The Seller at the direction of the Depositor or its assignee, shall, to the extent consistent with this Agreement, take such actions as may be necessary to ensure that, if this Agreement were deemed to create a security interest in the Mortgage Loans and the proceeds thereof, such security interest would be a perfected security interest of first priority under applicable law and will be maintained as such throughout the term of this Agreement. In connection herewith, Depositor and its assignee shall have all of the rights and remedies of a secured party and creditor under the Uniform Commercial Code as in force in the relevant jurisdiction. Section 22. Recordation of Agreement. To the extent permitted by applicable law, this Agreement is subject to recordation following the Closing Date in all appropriate public offices for real property records in all the counties or other comparable jurisdictions in which any or all of the properties subject to the Mortgages are situated, and in any other appropriate public recording office or elsewhere, such recordation to be effected by Seller at Seller's expense at the direction of Depositor accompanied by an Opinion of Counsel to the effect that such recordation materially and beneficially affects the interests of Depositor. * * * IN WITNESS WHEREOF, the parties hereto have caused this Mortgage Loan Purchase Agreement to be duly executed and delivered as the date first above written. PNC BANK, NATIONAL ASSOCIATON, as Seller By: ___________________________________ Name: Title: CREDIT SUISSE FIRST BOSTON MORTGAGE SECURITIES CORP., as Depositor By: ___________________________________ Name: Title: Vice President SCHEDULE I SCHEDULE OF TRANSACTION TERMS This Schedule of Transaction Terms is appended to and incorporated by reference in the Mortgage Loan Purchase Agreement (the "Agreement"), dated as of March 1, 2002, between PNC Bank, National Association (the "Seller") and Credit Suisse First Boston Mortgage Securities Corp. (the "Depositor"). Capitalized terms used herein without definition have the meanings given them in or by reference in the Agreement or, if not defined in the Agreement, in the Pooling and Servicing Agreement. "Affiliate" means with respect to any specified Person, any other Person controlling or controlled by or under common control with such specified Person. "Borrower" means the borrower under the Mortgage Loan. "Certificate Purchase Agreement" means the Certificate Purchase Agreement, dated March 13, 2002, between Depositor and the Initial Purchaser. "Certificates" means each class of the Credit Suisse First Boston Mortgage Securities Corp. Commercial Mortgage Pass-Through Certificates, Series 2002-CKP1. "Closing Date" means March 26, 2002. "Code" means the Internal Revenue Code of 1986, as amended. "Crossed Loan" means any Mortgage Loan which is cross-defaulted and cross-collateralized with any other Mortgage Loan. "Cut-off Date" means, the applicable Due Date for each Mortgage Loan occurring in March 2002. "Environmental Report" means the environmental audit report with respect to each Mortgaged Property delivered to Seller in connection with the related Mortgage, if any. "Exception Report" means exceptions with respect to the representations and warranties made by the Seller as to the Mortgage Loans in Section 6(a)(xii) and under the written certificate described in Section 4(b)(iii), which exceptions are set forth in Schedule V attached hereto and made a part hereof. "Initial Purchaser" means Credit Suisse First Boston Corporation. "Loan Agreement" means, with respect to any Mortgage Loan, the loan agreement, if any, between the Mortgage Loan Originator and the Borrower, pursuant to which such Mortgage Loan was made. "Mortgage File" means, collectively, the documents and instruments pertaining to a Mortgage Loan required to be included in the related Mortgage File pursuant to Section 3 (subject to the proviso in Section 1). "Mortgage Loan Documents" means, collectively, the documents and instruments pertaining to a Mortgage Loan to be included in either the related Mortgage File or the related Servicer File. "Mortgage Loan Originator" means any institution which originated a Mortgage Loan for a related Borrower. "Mortgage Loan Purchase Price" means the amount described in Section 2 of the Agreement. "Mortgage Loans" means the mortgage loans to be sold to Depositor pursuant to the Agreement, specifically identified in Schedule II to the Agreement. "Offered Certificates" means the Class A-1, Class A-2, Class A-3, Class B, Class C, Class D and Class E Certificates. "Offering Circular" means the confidential offering circular dated March 13, 2002, describing certain classes of the Certificates. "Pooling and Servicing Agreement" means the Pooling and Servicing Agreement creating the Trust Fund and the interests therein, dated as of March 1, 2002, among the Master Servicer, the Special Servicer, Depositor and the Trustee, including the Mortgage Loan Schedule annexed thereto. "Primary Collateral" means with respect to any Crossed Loan, that portion of the Mortgaged Property designated as directly securing such Crossed Loan and excluding any Mortgaged Property as to which the related lien may only be foreclosed upon by exercise of the cross-collateralization provisions of such Crossed Loan. "Prospectus" means the Prospectus, dated December 19, 2001. "Prospectus Supplement" means the Prospectus Supplement, dated March 13, 2002, relating to the Offered Certificates. "Servicer File" means, collectively, all documents, records and copies pertaining to a Mortgage Loan listed on Schedule II which are required to be included in the related Servicer File pursuant to Section 3 (subject to the proviso in Section 1). "Underwriters" means Credit Suisse First Boston Corporation, McDonald Investments Inc., PNC Capital Markets, Inc. and Goldman, Sachs & Co. "Underwriting Agreement" means the Underwriting Agreement, dated March 13, 2002, between Depositor and the Underwriters. SCHEDULE II MORTGAGE LOAN SCHEDULE FOR PNC BANK LOANS CREDIT SUISSE FIRST BOSTON MORTGAGE SECURITIES CORP. COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2002-CKP1
# CROSSED PROPERTY NAME --- ------- ------------- 1 Metroplex West 2 300 M Street Office Building 3 The Shops at Deerfield Square 4 LOCKE SOVRAN PORTFOLIO 4A Uncle Bob's Self Storage 4B Security Self Storage 4C Security Self Storage 4D Central Self Storage 4E Mini-Stor Self Storage 4F Uncle Bob's Self Storage 4G Central Self Storage 4H Uncle Bob's Self Storage 4I Uncle Bob's Self Storage 4J Central Self Storage 4K Security Self Storage 4L Uncle Bob's Self Storage 4M Uncle Bob's Self Storage 4N Central Self Storage 4O Saco Self Storage 4P Central Self Storage 4Q Uncle Bob's Self Storage 4R Central Self Storage 4S Uncle Bob's Self Storage 4T Central Self Storage 4U Central Self Storage 4V Security Self Storage 4W Security Self Storage 4X Central Self Storage 4Y Dor-Co Self Storage 4Z Central Self Storage 4AA Central Self Storage 5 (A) Tuttle Crossing 6 (A) Western Hills Marketplace 7 (A) Montgomery Crossing 8 Park Center Office Building 9 Oak Ridge Office Portfolio 10 Clopper Road Portfolio 11 Bridgepark Shopping Center 12 The Summit - Phase II 13 130 Fifth Avenue 14 Colonial Grand @ Bayshore 15 Raytheon Building 16 Nancy Ridge Technology Center 17 Spradlin Farm Shopping Center 18 Bay Point Apartments 19 Chaparral Apartments 20 Seville Place Apartments 21 The Piccard Building 22 The Leeward Apartments 23 Plantation Point Plaza 24 Park Hamilton Apartments 25 Ridge Park Square 26 The Fox Chase Apartments 27 Honeywell Building 28 Brookwood Village Townhouses 29 Lattimore Medical Building 30 The Medical Pavilion 31 Findlay Tall Timbers 32 Walnut Grove Plaza Shopping Center 33 Bruton Oaks Apartments 34 Country Creek Apartments 35 Tower Office Plaza 1 36 Versailles Apartments 37 Highland Road Village I & II 38 Cherokee Commons Shopping Center 39 Willow Lake West Shopping Center 40 Germantown Technology Center 41 Royal Oaks Manor Apartments 42 Dimond Shopping Center 43 Darrow Place Apartments 44 Stewart's Landing Apartments 45 Natomas Self Storage 46 Pine Creek Apartments 47 Kingston Square Apartments 48 Chapel Ridge of Emporia Apartments 49 Pine Tree Park Apartments 50 Kimball Square Apartments 51 Oak Valley Apartments 52 Franklin Marketplace Shopping Center 53 Fairways Office Center 54 Red Sierra Drive Apartments 55 Chapel Ridge Apartments of Haysville 56 North Port Shopping Center 57 Hazleton Apartments 58 Best Buy Store #422-Richmond 59 Katella Plaza 60 Village Square Apartments 61 Water Street Plaza 62 Apple Creek Apartments 63 Madison on Dietrich Apartments 64 Cornerstone Court West 65 Highlands Business Center I and II 66 St. Augustine Apartments 67 Fisher's Mercantile Center 68 Baric Commons Apartments 69 Chapman Restaurants 70 Deer Run Apartments 71 Montgomery North Medical Center 72 Breckenridge Apartments 73 Walgreens Drug Store-Scherville 74 Landmark Apartments 75 Walgreens Drug Store-Wichita 76 Silverwood Apartments 77 Walgreens Drug Store-Greenwood 78 Walgreens Plaza-Peabody 79 Walgreens Drug Store-Bartlett 80 Matador Villa Apartments 81 Colonial Village Apartments 82 Kendall Apartments 83 Terrace Park & Cancer Care Medical Office 84 Superior Self Storage 85 Dancea Apartments 86 Trail Commerce Center 87 Newhall Avenue Apartments 88 Walgreens Drug Store-Indianapolis 89 The 1800 Building 90 South Wales Mini Storage 91 Springwood Apartments 92 Best Buy-Joplin 93 Scott Plaza Apartments 94 Walgreens Drug Store-Lenoir City 95 Central Park Apartments 96 The Bungalows 97 Chicago Heights Apartments 98 Barry Towne Shopping Center 99 Indian Ridge Apartments 100 Metroplaza Shopping Center 101 The Design Center 102 Bartlett Apartments 103 Spring Hollow Apartments 104 Heights Plaza Apartments 105 Crystal Lake Townhomes 106 Plaza South Shopping Center 107 Northern Passage Building 108 Oaks of Ashford Point II Apartments 109 Century Plaza Office Building 110 Regency Oaks Apartments 111 Park High Apartments 112 Indian Park Plaza 113 Hoffner/Airport Office Center 114 Cherry Estates Mobile Home Park 115 (B) Hawthorne Apartments 116 (B) Pinecrest Apartments 117 Ingleside Quarters 118 Silver Lake Mobile Home Park 119 Linden Place Apartments 120 Bethel of Gardner 121 4402 Swiss Avenue 122 300 Ed Wright Lane 123 Todd Investments 124 Kingwood Loop 494 Shopping Center 125 Leisure Days RV Resort 126 Fox Chase Park Apartments 127 Shadow Ridge Mobile Home Park 128 Alhambra Business Center - Phase II 129 18000 Encino Plaza 130 Shady Acres Mobile Home Park 131 Willow Brook Apartments 132 Chapel Ridge Apartments, Phase I 133 Tempe Professional Plaza 134 Villa Park Mobile Home Park 135 Louetta Plaza 136 Suffolk Pines Mobile Home Park 137 Washington Square 138 Chapel Ridge Apartments, Phase II 139 Admiral Manufactured Housing Community and Self Storage 140 Blonde (Quality) Apartments 141 Ardmore Self-Service Storage 142 Ridgefield Bank 143 North Reading Shopping Center 144 Fredricksburg Apartments 145 Bancroft Court Apartments 146 Bell Plaza 147 Cheyenne Apartments 148 Willow Ridge Apartments 149 Rose Meadows Apartments 150 734 Lancaster Avenue 151 Kingston Court Apartments 152 Bishop Court Apartments 153 Mesa Verde Mobile Home Park 154 Valley View Shopping Center 155 Amber Woods Apartments 156 West Queen Garden Apartments ZIP MORTGAGE # ADDRESS CITY STATE CODE LOAN SELLER --- ------- ---- ----- ---- ----------- 1 Chemical Road and Germantown Pike Plymouth Meeting PA 19462 Column 2 300 M Street, SE Washington DC 20003 Column 3 740 Waukegan Road Deerfield IL 60015 Key 4 PNC 4A 19200 Neff Road Cleveland OH 44119 4B 73 Pleasant Street Dracut MA 01826 4C 114 Pleasant Valley Methuen MA 01844 4D 6250 Westward Houston TX 77081 4E 6 Washington Circle Sandwich MA 02563 4F 1725 Roswell Road Marietta GA 30062 4G 2233 Franklin Drive Mesquite TX 75150 4H 4311 Samuel Boulevard Dallas TX 75228 4I 10114 Old Katy Road Houston TX 77043 4J 10640 Hempstead Road Houston TX 77092 4K 7437 Garners Ferry Road Columbia SC 29209 4L 191 Salem Church Road Harrisburg PA 17055 4M 3787 Elm Road North East Warren OH 44483 4N 15300 Kuykendahl Houston TX 77090 4O 6 Industrial Park Road Saco ME 04072 4P 920 Highway 80 East Mesquite TX 75149 4Q 11670 Airline Highway Baton Rouge LA 70816 4R 9951 Harwin Drive Houston TX 77066 4S 3343 Southwest Military Drive San Antonio TX 78211 4T 1606 Plantation Road Dallas TX 75235 4U 3540 Hunt Lane San Antonio TX 78227 4V 1320 Georgia Highway 40 East Kingsland GA 31548 4W 600 Cannon Road Myrtle Beach SC 29577 4X 8450 Cook Road Houston TX 77072 4Y 430 Spencer Street Syracuse NY 13204 4Z 14318 Highway 249 Houston TX 77086 4AA 8801 Boone Road Houston TX 77099 5 5700-5840, 5930 Britton Parkway Columbus OH 43016 Key 6 N/W/C of Glenway Avenue & Glencrossing Way Cincinnati OH 45238 Key 7 Fields Ertel Road and Montgomery Road Cincinnati OH 45249 Key 8 2400 Dallas Parkway Plano TX 75093 Column 9 151 Lafayette Drive and 1055, 1060, 1009, 1093 & 1099 Commerce Park Drive Oak Ridge TN 37830 Column 10 1201, 930 and 940 Clopper Road Gaithersburg MD 20878 Column 11 27702 Crown Valley Parkway Ladera Ranch CA 92694 Column 12 275 Summit Boulevard Birmingham AL 35243 Column 13 130 Fifth Avenue New York NY 10011 Column 14 4148 53Rd Avenue Bradenton FL 34210 PNC 15 2101 El Segundo Boulevard El Segundo CA 90245 Key 16 6310-6330 Nancy Ridge Drive And 6350-6370 Nancy Ridge Drive San Diego CA 92121 PNC 17 Us Highway 460 At Spradlin Farm Drive Christiansburg VA 24073 PNC 18 1802 Ennis Joslin Road Corpus Christi TX 78412 PNC 19 601 East Rosery Road Largo FL 33770 Column 20 3124 North Pine Hills Road Orlando FL 32808 Column 21 1390 Piccard Drive Rockville MD 20850 Column 22 444 East Medical Center Boulevard Webster TX 77598 PNC 23 1201-1297 38th Avenue North Myrtle Beach SC 29577 Column 24 5900 Park Hamilton Boulevard Orlando FL 32808 Column 25 NWQ Ridge Road & I-480 Brooklyn OH 44144 Key 26 1920 West Tarrant Road Grand Prairie TX 75050 PNC 27 135 West Forest Hill Avenue Oak Creek WI 53154 PNC 28 5150 Henderson Road Millcreek Township PA 16509 PNC 29 125 Lattimore Road Rochester NY 14620 Key 30 34503-9th Avenue South Federal Way WA 98003 Key 31 6000 Fostoria Avenue & 2001 Industrial Drive Findlay OH 45839 Key 32 4951 South 155th Street Omaha NE 68135 Key 33 9901 Bruton Road Dallas TX 75217 Key 34 1702 Jupiter Road Garland TX 75042 PNC 35 27555 Ynez Road Temecula CA 92591 PNC 36 18130 South Kedzie Avenue Hazel Crest IL 60429 Column 37 2704 South Cockrell Hill Road Dallas TX 75211 Column 38 6192 Highway 92 Acworth GA 30102 Column 39 2902 West 86Th Street Indianapolis IN 46260 PNC 40 20271 Goldenrod Lane Germantown MD 20876 PNC 41 602 West Pioneer Parkway Grand Prairie TX 75051 Column 42 601 East Dimond Boulevard Anchorage AK 99518 Key 43 238 Darrow Drive Edinboro PA 16412 PNC 44 3002 69th Street Galveston TX 77551 Column 45 2640 El Centro Road Sacramento CA 95833 Key 46 470 Maxey Road Houston TX 77013 Column 47 6315 Kingston Pike Knoxville TN 37919 Column 48 3601 West 18Th Avenue Emporia KS 66801 PNC 49 806-840 Hazel Street North St. Paul MN 55119 Key 50 4542 Kiest Blvd. Dallas TX 75236 Key 51 708 Woodard Way Arlington TX 76011 Column 52 1017-1031 Center Point Place Road Franklin TN 37064 Key 53 28470 Thirteen Mile Road Farmington Hills MI 48334 PNC 54 6520 Red Sierra Drive Fort Worth TX 76112 Column 55 235 South Jane Street Haysville KS 67060 PNC 56 101 West Seven Hills Road Port Washington WI 53074 Column 57 701 West 24Th Street Hazle Township PA 18201 PNC 58 1560 Dager Center Boulevard Richmond VA 23235 Key 59 215-317 East Katella Avenue Orange CA 92867 PNC 60 17150 Meyers Road Detroit MI 48226 Column 61 126-138 West Water Street Santa Fe NM 87501 Column 62 4548 South Elm Place Broken Arrow OK 74011 PNC 63 4619 Dietrich Road San Antonio TX 78219 Column 64 5960 Cornerstone Court West San Diego CA 92121 PNC 65 40880-B, 40935, 40945 County Center Drive Temecula CA 92591 PNC 66 1198 North St. Augustine Road Dallas TX 75217 Column 67 16111 Southeast McGillivray Boulevard Vancouver WA 98684 Column 68 232 East 121st Place Chicago IL 60628 Column 69 11757, 12001, 12007 & 12011 Harbor Boulevard Garden Grove CA 92840 Column 70 13615 White Avenue Grandview MO 64030 PNC 71 10600 North Montgomery Road Cincinnati OH 45242 PNC 72 4323, 4510 & 4530 North Division Street Davenport IA 52806 Column 73 651 U.S. Highway 30 Schererville IN 46375 Key 74 344 Richland Drive Waco TX 76710 Column 75 1625 Webb Road Wichita KS 67208 Key 76 625 Green Wave Drive Gallatin TN 37066 Column 77 720 S. State Road 135 Greenwood IN 46143 Key 78 229 Andover Street Peabody MA 01960 Key 79 6565 St. Elmo Road Bartlett TN 38134 Key 80 9721 Picador Drive St. Louis MO 63136 Column 81 400 Westside Boulevard Houma LA 70364 Column 82 Multiple Addresses Davenport IA 52806 Column 83 1818, 1826, & 1810 E. 15th Street Tulsa OK 74137 Key 84 8960 Calvine Road Elk Grove CA 95829 Key 85 611-631 North West 177th Street Miami FL 33169 Column 86 3500 45th Street West Palm Beach FL 33407 Column 87 24856-82 Newhall Avenue Newhall CA 91321 Column 88 455 East Elper Avenue Indianapolis IN 46227 Key 89 1800 West 213Th Street Torrance CA 90501 PNC 90 1429 Old Bridge Road Amissville VA 20106 Key 91 2340 Hurley Way Sacramento CA 95825 Key 92 3117 Turkey Creek Boulevard Joplin MO 64801 Key 93 9703 Scott Street Houston TX 77051 Column 94 350 Highway 321 North Lenoir City TN 37771 Key 95 2300 D Street Anchorage AK 99503 Key 96 7204 Gaston Avenue Dallas TX 75214 Key 97 450-484 West 16th Street Chicago Heights IL 60411 Column 98 8401 North Madison Kansas City MO 64118 PNC 99 3706 West 8th Street Dallas TX 75211 Column 100 714-780 South La Brea Avenue Los Angeles CA 90036 Column 101 10816 Millington Court Blue Ash OH 45242 PNC 102 3-15 April Lane and 64-66 Perry Avenue Norwalk CT 06851 Key 103 4803 And 4804 Loyola Austin TX 78723 PNC 104 205 Heights Boulevard Houston TX 77007 Column 105 3801-4215 Palladium Drive Greensboro NC 27410 Column 106 805-829 South Tennessee Boulevard Murfreesboro TN 37130 PNC 107 3302 Fuhrman Avenue East Seattle WA 98102 Column 108 13103 Ashford Point Drive Houston TX 77082 PNC 109 211 Century Drive Greenville SC 29607 Column 110 2121 Handley Drive Fort Worth TX 76112 Column 111 13824-13836 John R Road & 127-255 Gerald Street Highland Park MI 48203 Column 112 6601 West Indian School Road Phoenix AZ 85033 Column 113 5448 Hoffner Avenue Orlando FL 32812 Column 114 8300 Cherry Avenue Fontana CA 92335 Column 115 45 Hawthorne Street Bristol CT 06010 Column 116 288 Pine Street Bristol CT 06010 Column 117 330 Ingleside Drive Baton Rouge LA 70806 PNC 118 7333 Pine Forest Road Pensacola FL 32526 Column 119 909 North Linden Street Muncie IN 47303 Column 120 375 North Pine Street Gardner KS 66030 PNC 121 4322, 4402 and 4414 Swiss Avenue Dallas TX 75204 Column 122 300 Ed Wright Lane Newport News VA 23606 Column 123 382-390 Farmington Avenue and 503 New Britain Avenue Hartford CT 06105 Column 124 22704 Loop 494 Houston TX 77339 Column 125 34533 Leisure Days Drive Zephyrhills FL 33541 Column 126 307-309 Hoffnagle Street & 8248-8250 Rockwell Avenue Philadelphia PA 19111 Column 127 8595 North 71st Avenue Glendale AZ 85301 Column 128 4851 North West 79 Avenue Miami FL 33166 Column 129 18000 Ventura Boulevard Encino CA 91316 Column 130 42 Miry Brook Road Danbury CT 06810 Column 131 120 Atlantic Avenue Long Branch NJ 07740 Column 132 160 Morphew Road Hot Springs AR 71913 PNC 133 6101 South Rural Road Tempe AZ 85283 Column 134 410 East 23rd Street Roswell NM 88201 Column 135 12603 Louetta Road Houston TX 77070 Column 136 620 Montauk Highway Westhampton Beach NY 11978 Column 137 6010 Washington Avenue Houston TX 77007 Column 138 160 Morphew Road Hot Springs AR 71913 PNC 139 8121 Lillian Highway Pensacola FL 32506 Column 140 1616, 1620, 1630 & 1634 West 42nd Street Davenport IA 52806 Column 141 1900 Veterans Boulevard Ardmore OK 73401 Column 142 941 Danbury Road Wilton CT 06897 Column 143 6 Washington Street North Reading MA 01864 Column 144 950 West Kiest Boulevard Dallas TX 75224 Column 145 6420-6506 Park Heights Avenue Baltimore MD 21215 Column 146 1799 North State Road 7 Margate FL 33063 Column 147 4406 North Division Street & 4307 & 4311 Cheyenne Avenue Davenport IA 52806 Column 148 6509 & 6520 Pitts Boulevard North Ridgeville OH 44039 Column 149 7925 Streamside Drive Houston TX 77088 Column 150 734 Lancaster Avenue Radnor PA 19087 Column 151 120 South Church Avenue Tampa FL 33609 Column 152 901-907 North Bishop Avenue Dallas TX 75208 Column 153 3003 Hualapai Mountain Road Kingman AZ 86401 Column 154 2926 Valley View Lane Farmers Branch TX 75234 Column 155 2506 Stadium Drive Phenix City AL 36867 Column 156 1718 17th Avenue Albany OR 97321 Column UNITS/ NET REM. ORIG REM. SQ. FT./ MORTGAGE MORTGAGE ORIGINAL CUT-OFF TERM TO AMORT. AMORT. MONTHLY ROOMS/ # RATE RATE BALANCE BALANCE (1) MATURITY (2) TERM TERM PAYMENT (3) PADS --- ---- ---- ------- ----------- ------------ ---- ---- ----------- ---- 1 7.2500% 7.1977% $65,500,000 $65,294,018 116 360 356 $446,825 477,461 2 7.2500% 7.1977% $53,000,000 $52,801,908 115 360 355 $361,553 279,381 3 7.1200% 7.0677% $50,000,000 $50,000,000 120 360 360 $336,691 237,079 4 7.1900% 7.1077% $48,000,000 $48,000,000 120 300 300 $345,094 4A 74,882 4B 46,126 4C 41,040 4D 124,674 4E 39,000 4F 59,450 4G 81,973 4H 79,046 4I 52,860 4J 108,839 4K 72,976 4L 59,450 4M 60,200 4N 108,318 4O 53,750 4P 63,240 4Q 71,920 4R 77,454 4S 48,782 4T 61,520 4U 64,475 4V 66,837 4W 61,510 4X 61,275 4Y 34,350 4Z 57,279 4AA 51,200 5 7.3600% 7.3077% $18,240,000 $18,159,078 114 360 354 $125,793 185,718 6 7.3600% 7.3077% $12,400,000 $12,344,987 114 360 354 $85,517 127,541 7 7.3600% 7.3077% $4,320,000 $4,300,834 114 360 354 $29,793 89,656 8 7.5000% 7.4477% $33,000,000 $32,896,136 117 312 309 $240,704 234,951 9 7.8100% 7.7577% $31,500,000 $29,428,137 127 300 247 $239,171 413,965 10 7.4000% 7.3477% $28,250,000 $28,201,325 118 360 358 $195,597 197,292 11 7.1250% 7.0727% $23,500,000 $23,424,249 116 360 356 $158,324 100,918 12 7.3500% 7.2977% $21,500,000 $21,421,366 115 360 355 $148,129 103,924 13 7.0200% 6.9677% $21,000,000 $20,930,893 116 360 356 $139,996 120,000 14 6.8500% 6.7477% $20,240,000 $20,171,135 116 360 356 $132,624 376 15 7.4800% 7.4277% $19,384,000 $19,345,706 118 300 298 $137,922 112,695 16 7.4900% 7.3577% $19,300,000 $19,277,617 119 360 359 $134,816 176,710 17 7.2500% 7.1677% $17,750,000 $17,729,004 119 360 359 $121,086 177,732 18 6.8500% 6.7477% $17,680,000 $17,635,029 117 360 357 $115,850 350 19 6.9800% 6.9277% $17,500,000 $17,441,956 116 360 356 $116,193 444 20 7.0400% 6.9877% $13,000,000 $12,949,167 115 360 355 $86,839 444 21 7.5000% 7.4477% $12,730,000 $12,684,941 115 360 355 $89,010 100,579 22 7.0200% 6.9177% $12,000,000 $11,952,876 115 360 355 $79,998 256 23 7.1300% 7.0777% $11,600,000 $11,600,000 117 360 360 $78,191 112,747 24 7.0400% 6.9877% $11,000,000 $10,956,988 115 360 355 $73,479 330 25 7.2000% 7.1477% $10,800,000 $10,780,786 118 360 358 $73,309 103,368 26 6.9700% 6.8877% $10,400,000 $10,374,163 117 360 357 $68,982 260 27 7.4100% 7.2977% $9,700,000 $9,700,000 120 360 360 $67,227 150,000 28 7.0000% 6.9177% $8,571,000 $8,542,683 116 360 356 $57,023 124 29 7.2900% 7.2377% $8,500,000 $8,480,179 117 360 357 $58,216 78,364 30 7.3300% 7.2777% $8,300,000 $8,300,000 120 360 360 $57,072 51,465 31 7.2500% 7.1977% $8,325,000 $8,295,226 117 300 297 $60,174 557,921 32 7.3400% 7.2877% $8,200,000 $8,185,735 118 360 358 $56,440 111,445 33 7.2700% 7.2177% $8,000,000 $7,985,926 118 360 358 $54,683 304 34 7.0000% 6.9177% $7,800,000 $7,774,230 116 360 356 $51,894 296 35 7.4000% 7.2677% $7,711,000 $7,697,714 118 360 358 $53,389 72,514 36 7.3700% 7.3177% $7,600,000 $7,576,662 56 360 356 $52,465 276 37 6.8100% 6.7577% $7,500,000 $7,474,281 116 360 356 $48,944 332 38 7.2500% 7.1977% $7,200,000 $7,173,089 115 360 355 $49,117 103,736 39 7.1300% 7.0477% $7,160,000 $7,160,000 120 300 300 $51,201 52,961 40 7.1500% 7.0177% $6,950,000 $6,933,337 117 360 357 $46,941 67,619 41 6.9000% 6.8477% $6,875,000 $6,840,240 116 300 296 $48,153 276 42 7.2500% 7.1977% $6,450,000 $6,419,140 116 300 296 $46,621 82,117 43 7.0000% 6.9177% $6,400,000 $6,374,760 115 360 355 $42,579 142 44 7.0000% 6.9477% $6,160,000 $6,135,706 115 360 355 $40,983 216 45 7.1000% 7.0477% $6,024,000 $6,009,414 117 360 357 $40,483 95,779 46 7.0200% 6.9677% $5,600,000 $5,581,571 116 360 356 $37,332 300 47 7.0000% 6.9477% $5,300,000 $5,279,098 115 360 355 $35,261 228 48 7.0000% 6.9177% $5,100,000 $5,093,836 179 360 359 $33,930 128 49 7.0800% 6.9777% $5,000,000 $4,991,939 119 300 299 $35,595 199 50 7.3300% 7.2777% $4,875,000 $4,867,304 119 300 299 $35,488 232 51 7.0000% 6.9477% $4,850,000 $4,830,873 115 360 355 $32,267 188 52 7.2200% 7.1677% $4,700,000 $4,691,665 118 360 358 $31,967 78,830 53 7.1000% 7.0177% $4,645,000 $4,633,753 117 360 357 $31,216 36,576 54 7.1400% 7.0877% $4,600,000 $4,578,616 114 360 354 $31,038 135 55 7.0000% 6.8677% $4,496,000 $4,484,896 177 360 357 $29,912 128 56 7.4600% 7.3877% $4,500,000 $4,477,932 113 360 353 $31,341 67,181 57 7.0000% 6.8677% $4,500,000 $4,472,812 115 300 295 $31,805 236 58 7.4900% 7.4377% $4,400,000 $4,400,000 144 360 360 $30,735 44,276 59 7.2500% 7.1177% $4,250,000 $4,242,499 118 360 358 $28,992 62,283 60 7.2500% 7.1977% $4,220,000 $4,200,834 114 360 354 $28,788 190 61 8.2500% 8.1977% $4,160,000 $4,138,449 111 360 351 $31,253 15,722 62 6.9900% 6.9077% $3,900,000 $3,881,288 114 360 354 $25,921 124 63 6.9000% 6.8477% $3,900,000 $3,880,282 116 300 296 $27,316 172 64 7.4000% 7.2677% $3,803,000 $3,798,557 119 360 359 $26,331 28,231 65 7.3500% 7.2177% $3,750,000 $3,743,487 118 360 358 $25,836 68,066 66 6.7000% 6.6477% $3,750,000 $3,736,862 116 360 356 $24,198 200 67 7.7200% 7.6677% $3,700,000 $3,682,905 113 360 353 $26,431 36,014 68 7.5500% 7.4977% $3,500,000 $3,483,184 113 360 353 $24,592 141 69 7.2500% 7.1977% $3,400,000 $3,392,008 117 360 357 $23,194 29,400 70 7.0000% 6.8677% $3,200,000 $3,188,093 117 300 297 $22,617 124 71 7.2500% 7.1677% $3,184,000 $3,180,234 119 360 359 $21,720 24,541 72 7.5500% 7.4977% $3,120,000 $3,106,711 114 360 354 $21,922 120 73 7.2500% 7.1977% $3,054,000 $3,044,396 116 360 356 $20,834 15,120 74 7.2400% 7.1877% $3,050,000 $3,032,435 112 360 352 $20,786 152 75 7.2500% 7.1977% $3,031,000 $3,019,671 115 360 355 $20,677 15,120 76 7.6500% 7.5977% $3,025,000 $3,009,190 112 360 352 $21,463 112 77 7.2500% 7.1977% $2,992,500 $2,983,089 116 360 356 $20,414 15,120 78 7.2500% 7.1977% $2,950,000 $2,939,449 117 300 297 $21,323 25,230 79 7.2500% 7.1977% $2,949,000 $2,937,978 115 360 355 $20,117 14,490 80 7.3700% 7.3177% $2,875,000 $2,858,939 112 360 352 $19,847 176 81 7.2100% 7.1577% $2,850,000 $2,839,255 115 360 355 $19,365 123 82 7.6900% 7.6377% $2,800,000 $2,788,430 114 360 354 $19,944 96 83 7.2500% 7.1977% $2,740,000 $2,730,200 117 300 297 $19,805 23,326 84 7.1500% 7.0977% $2,725,000 $2,718,467 117 360 357 $18,405 66,950 85 7.5000% 7.4477% $2,600,000 $2,592,220 116 360 356 $18,180 112 86 7.5800% 7.5277% $2,600,000 $2,582,737 114 300 294 $19,349 79,278 87 7.6000% 7.5477% $2,560,000 $2,546,458 112 360 352 $18,076 63 88 7.2500% 7.1977% $2,536,875 $2,528,897 116 360 356 $17,306 15,120 89 7.6600% 7.5277% $2,515,000 $2,510,842 118 360 358 $17,862 19,544 90 7.3000% 7.1977% $2,500,000 $2,496,044 119 300 299 $18,151 70,853 91 6.9500% 6.8977% $2,433,000 $2,426,932 117 360 357 $16,105 60 92 7.2400% 7.1877% $2,355,000 $2,348,916 118 300 298 $17,007 30,157 93 7.1000% 7.0477% $2,320,000 $2,306,733 117 240 237 $18,126 150 94 7.5400% 7.4877% $2,260,000 $2,256,494 119 300 299 $16,760 15,120 95 7.4500% 7.3977% $2,200,000 $2,192,379 117 300 297 $16,186 69 96 7.0100% 6.9577% $2,170,000 $2,159,632 114 360 354 $14,452 48 97 7.4300% 7.3777% $2,140,000 $2,127,974 115 300 295 $15,717 98 98 7.7800% 7.6477% $2,100,000 $2,100,000 240 240 240 $17,279 17,600 99 7.0500% 6.9977% $2,100,000 $2,091,806 115 360 355 $14,042 161 100 8.6900% 8.6377% $2,030,000 $1,999,425 92 360 332 $15,883 29,863 101 7.4300% 7.3477% $2,000,000 $1,997,669 119 360 359 $13,889 24,884 102 7.0000% 6.9477% $2,000,000 $1,993,392 116 360 356 $13,306 16 103 7.0000% 6.9177% $2,000,000 $1,992,558 117 300 297 $14,136 100 104 7.2500% 7.1977% $1,925,000 $1,918,946 116 360 356 $13,132 102 105 7.0200% 6.9677% $1,900,000 $1,895,326 117 360 357 $12,666 30 106 7.3900% 7.2577% $1,900,000 $1,895,191 118 300 298 $13,905 25,361 107 7.5000% 7.4477% $1,900,000 $1,893,275 115 360 355 $13,285 10,803 108 7.5000% 7.3677% $1,775,000 $1,768,717 115 360 355 $12,411 56 109 7.3000% 7.2477% $1,725,000 $1,719,629 116 360 356 $11,826 50,428 110 7.4500% 7.3977% $1,700,000 $1,696,160 117 360 357 $11,829 100 111 7.2500% 7.1977% $1,630,000 $1,622,597 114 360 354 $11,119 96 112 7.5700% 7.5177% $1,620,000 $1,614,353 115 360 355 $11,405 19,848 113 7.5000% 7.4477% $1,600,000 $1,591,115 115 300 295 $11,824 45,000 114 7.1500% 7.0977% $1,480,000 $1,475,253 116 360 356 $9,996 54 115 7.2500% 7.1977% $820,000 $814,246 114 300 294 $5,927 32 116 7.2500% 7.1977% $640,000 $635,509 114 300 294 $4,626 24 117 7.1600% 7.0777% $1,320,000 $1,320,000 120 300 300 $9,465 55 118 7.4000% 7.3477% $1,334,000 $1,319,426 114 240 234 $10,665 186 119 7.2500% 7.1977% $1,280,000 $1,268,208 115 240 235 $10,117 24 120 7.5400% 7.4577% $1,266,000 $1,263,867 178 360 358 $8,887 36 121 7.6000% 7.5477% $1,200,000 $1,195,845 115 360 355 $8,473 52 122 8.0400% 7.9877% $1,200,000 $1,194,299 112 360 352 $8,839 27,256 123 7.4800% 7.4277% $1,210,000 $1,192,874 112 240 232 $9,733 66 124 8.1000% 8.0477% $1,150,000 $1,146,413 117 300 297 $8,952 21,683 125 7.0000% 6.9477% $1,140,000 $1,135,504 115 360 355 $7,584 236 126 7.2500% 7.1977% $1,134,000 $1,125,482 116 240 236 $8,963 40 127 7.0300% 6.9777% $1,125,000 $1,119,648 114 360 354 $7,507 124 128 7.0000% 6.9477% $1,050,000 $1,046,093 117 300 297 $7,421 14,217 129 8.3400% 8.2877% $1,040,000 $1,036,952 115 360 355 $7,879 8,605 130 7.2500% 7.1977% $1,040,000 $1,033,975 115 300 295 $7,517 48 131 7.8000% 7.7477% $1,024,000 $1,019,356 113 360 353 $7,371 28 132 7.3100% 7.1777% $1,011,000 $1,007,270 175 360 355 $6,938 56 133 8.1100% 8.0577% $1,007,486 $1,002,783 112 360 352 $7,470 14,803 134 7.3900% 7.3377% $1,000,000 $996,374 115 360 355 $6,917 83 135 7.7500% 7.6977% $1,000,000 $992,932 116 240 236 $8,209 8,328 136 7.2500% 7.1977% $1,000,000 $990,787 115 240 235 $7,904 62 137 8.3200% 8.2677% $1,000,000 $980,408 173 180 173 $9,742 13,962 138 7.0000% 6.8677% $976,000 $974,207 118 360 358 $6,493 32 139 7.4500% 7.3977% $888,000 $878,360 114 240 234 $7,127 449,600 140 7.6400% 7.5877% $875,000 $871,345 114 360 354 $6,202 34 141 8.2300% 8.1777% $875,000 $868,366 112 300 292 $6,887 38,375 142 8.7600% 8.7077% $850,000 $844,175 112 300 292 $6,994 13,400 143 8.3900% 8.3377% $850,000 $843,747 112 300 292 $6,782 19,350 144 7.8400% 7.7877% $800,000 $796,405 113 360 353 $5,781 66 145 7.3000% 7.2477% $800,000 $795,404 115 300 295 $5,808 25 146 8.0000% 7.9477% $750,000 $746,179 115 300 295 $5,789 14,400 147 7.6400% 7.5877% $715,000 $712,013 114 360 354 $5,068 33 148 7.5300% 7.4777% $700,000 $698,444 117 360 357 $4,909 46 149 8.1000% 8.0477% $671,500 $667,891 111 360 351 $4,974 24 150 8.3400% 8.2877% $675,000 $667,476 113 240 233 $5,790 5,500 151 7.9700% 7.9177% $584,000 $579,863 113 300 293 $4,496 25 152 7.4500% 7.3977% $560,000 $556,864 115 300 295 $4,120 16 153 7.0600% 7.0077% $550,000 $547,400 114 360 354 $3,681 62 154 8.8200% 8.7677% $550,000 $546,275 112 300 292 $4,548 8,400 155 7.2500% 7.1977% $500,000 $498,131 115 360 355 $3,411 24 156 8.1100% 8.0577% $500,000 $497,319 111 360 351 $3,707 18 SERVICING AND INTEREST CALCULATION TRUSTEE MATURITY PREPAYMENT PROVISION EARTHQUAKE # (30/360 / ACTUAL/360) FEES DATE ARD (4) AS OF ORIGINATION (5) DEFEASANCE (6) INSURANCE --- --------------------- ---- ---- ------- --------------------- -------------- --------- 1 Actual/360 0.0523% 11/11/2031 11/11/11 Lock/116_0%/4 Yes N/A 2 Actual/360 0.0523% 10/11/2031 10/11/11 Lock/113_0%/7 Yes N/A 3 Actual/360 0.0523% 03/01/2012 N/A Lock/117_0%/3 Yes N/A 4 ACTUAL/360 0.0823% 03/01/2012 N/A LOCK/116_0%/4 YES 4A N/A 4B N/A 4C N/A 4D N/A 4E N/A 4F N/A 4G N/A 4H N/A 4I N/A 4J N/A 4K N/A 4L N/A 4M N/A 4N N/A 4O N/A 4P N/A 4Q N/A 4R N/A 4S N/A 4T N/A 4U N/A 4V N/A 4W N/A 4X N/A 4Y N/A 4Z N/A 4AA N/A 5 Actual/360 0.0523% 09/01/2011 N/A Lock/117_0%/3 Yes N/A 6 Actual/360 0.0523% 09/01/2011 N/A Lock/117_0%/3 Yes N/A 7 Actual/360 0.0523% 09/01/2011 N/A Lock/117_0%/3 Yes N/A 8 Actual/360 0.0523% 12/11/2011 N/A Lock/117_0%/3 Yes N/A 9 Actual/360 0.0523% 10/01/2012 N/A Lock/173_0%/7 Yes N/A 10 Actual/360 0.0523% 01/11/2032 1/11/12 Lock/116_0%/4 Yes N/A 11 Actual/360 0.0523% 11/11/2011 N/A Lock/114_0%/6 Yes No 12 Actual/360 0.0523% 10/11/2011 N/A Lock/117_0%/3 Yes N/A 13 Actual/360 0.0523% 11/11/2011 N/A Lock/117_0%/3 Yes N/A 14 Actual/360 0.1023% 11/01/2011 N/A Lock/116_0%/4 Yes N/A 15 Actual/360 0.0523% 01/01/2027 1/1/12 Lock/116_0%/4 Yes No 16 Actual/360 0.1323% 02/01/2012 N/A Lock/116_0%/4 Yes No 17 Actual/360 0.0823% 02/01/2012 N/A Lock/116_0%/4 Yes N/A 18 Actual/360 0.1023% 12/01/2011 N/A Lock/116_0%/4 Yes N/A 19 Actual/360 0.0523% 11/11/2011 N/A Lock/117_0%/3 Yes N/A 20 Actual/360 0.0523% 10/11/2011 N/A Lock/117_0%/3 Yes N/A 21 Actual/360 0.0523% 10/11/2011 N/A Lock/117_0%/3 Yes N/A 22 Actual/360 0.1023% 10/01/2011 N/A Lock/35_YM1/81_0%/4 No N/A 23 Actual/360 0.0523% 12/11/2011 N/A Lock/117_0%/3 Yes N/A 24 Actual/360 0.0523% 10/11/2011 N/A Lock/117_0%/3 Yes N/A 25 Actual/360 0.0523% 01/01/2012 N/A Lock/117_0%/3 Yes N/A 26 Actual/360 0.0823% 12/01/2011 N/A Lock/35_YM1/81_0%/4 No N/A 27 Actual/360 0.1123% 03/01/2012 N/A Lock/116_0%/4 Yes N/A 28 Actual/360 0.0823% 11/01/2011 N/A Lock/116_0%/4 Yes N/A 29 Actual/360 0.0523% 12/01/2011 N/A Lock/117_0%/3 Yes N/A 30 Actual/360 0.0523% 03/01/2032 3/1/12 Lock/117_0%/3 Yes N/A 31 Actual/360 0.0523% 12/01/2011 N/A Lock/117_0%/3 Yes N/A 32 Actual/360 0.0523% 01/01/2012 N/A Lock/117_0%/3 Yes N/A 33 Actual/360 0.0523% 01/01/2012 N/A Lock/117_0%/3 Yes N/A 34 Actual/360 0.0823% 11/01/2011 N/A Lock/116_0%/4 Yes N/A 35 Actual/360 0.1323% 01/01/2012 N/A Lock/116_0%/4 Yes No 36 Actual/360 0.0523% 11/11/2006 N/A Lock/57_0%/3 Yes N/A 37 Actual/360 0.0523% 11/11/2011 N/A Lock/117_0%/3 Yes N/A 38 Actual/360 0.0523% 10/11/2011 N/A Lock/114_0%/6 Yes N/A 39 Actual/360 0.0823% 03/01/2012 N/A Lock/116_0%/4 Yes N/A 40 Actual/360 0.1323% 12/01/2011 N/A Lock/116_0%/4 Yes N/A 41 Actual/360 0.0523% 11/11/2011 N/A Lock/117_0%/3 Yes N/A 42 Actual/360 0.0523% 11/01/2011 N/A Lock/117_0%/3 Yes N/A 43 Actual/360 0.0823% 10/01/2011 N/A Lock/116_0%/4 Yes N/A 44 Actual/360 0.0523% 10/11/2011 N/A Lock/114_0%/6 Yes N/A 45 Actual/360 0.0523% 12/01/2011 N/A Lock/117_0%/3 Yes No 46 Actual/360 0.0523% 11/11/2011 N/A Lock/117_0%/3 Yes N/A 47 Actual/360 0.0523% 10/11/2011 N/A Lock/117_0%/3 Yes N/A 48 Actual/360 0.0823% 02/01/2017 N/A Lock/176_0%/4 Yes N/A 49 Actual/360 0.1023% 02/01/2012 N/A Lock/117_0%/3 Yes N/A 50 Actual/360 0.0523% 02/01/2012 N/A Lock/117_0%/3 Yes N/A 51 Actual/360 0.0523% 10/11/2011 N/A Lock/117_0%/3 Yes N/A 52 Actual/360 0.0523% 01/01/2012 N/A Lock/117_0%/3 Yes N/A 53 Actual/360 0.0823% 12/01/2011 N/A Lock/116_0%/4 Yes N/A 54 Actual/360 0.0523% 09/11/2011 N/A Lock/114_0%/6 Yes N/A 55 Actual/360 0.1323% 12/01/2016 N/A Lock/176_0%/4 Yes N/A 56 Actual/360 0.0723% 08/11/2011 N/A Lock/117_0%/3 Yes N/A 57 Actual/360 0.1323% 10/01/2011 N/A Lock/116_0%/4 Yes N/A 58 Actual/360 0.0523% 03/01/2032 3/1/14 Lock/140_0%/4 Yes N/A 59 Actual/360 0.1323% 01/01/2012 N/A Lock/59_YM1/57_0%/4 No No 60 Actual/360 0.0523% 09/11/2011 N/A Lock/117_0%/3 Yes N/A 61 Actual/360 0.0523% 06/11/2011 N/A Lock/117_0%/3 Yes N/A 62 Actual/360 0.0823% 09/01/2011 N/A Lock/59_YM1/57_0%/4 No N/A 63 Actual/360 0.0523% 11/11/2011 N/A Lock/117_0%/3 Yes N/A 64 Actual/360 0.1323% 02/01/2012 N/A Lock/116_0%/4 Yes No 65 Actual/360 0.1323% 01/01/2012 N/A Lock/116_0%/4 Yes No 66 Actual/360 0.0523% 11/11/2011 N/A Lock/117_0%/3 Yes N/A 67 Actual/360 0.0523% 08/11/2011 N/A Lock/117_0%/3 Yes N/A 68 Actual/360 0.0523% 08/11/2031 8/11/11 Lock/118_0%/2 Yes N/A 69 Actual/360 0.0523% 12/11/2011 N/A Lock/117_0%/3 Yes No 70 Actual/360 0.1323% 12/01/2011 N/A Lock/116_0%/4 Yes N/A 71 Actual/360 0.0823% 02/01/2012 N/A Lock/116_0%/4 Yes N/A 72 Actual/360 0.0523% 09/11/2011 N/A Lock/114_0%/6 Yes N/A 73 Actual/360 0.0523% 11/01/2031 11/1/11 Lock/116_0%/4 Yes N/A 74 Actual/360 0.0523% 07/11/2011 N/A Lock/117_0%/3 Yes N/A 75 Actual/360 0.0523% 10/01/2031 10/1/11 Lock/116_0%/4 Yes N/A 76 Actual/360 0.0523% 07/11/2011 N/A Lock/117_0%/3 Yes N/A 77 Actual/360 0.0523% 11/01/2031 11/1/11 Lock/116_0%/4 Yes N/A 78 Actual/360 0.0523% 12/01/2026 12/1/11 YM3/116_0%/4 No N/A 79 Actual/360 0.0523% 10/01/2031 10/1/11 Lock/116_0%/4 Yes N/A 80 Actual/360 0.0523% 07/11/2011 N/A Lock/114_0%/6 Yes N/A 81 Actual/360 0.0523% 10/11/2011 N/A Lock/117_0%/3 Yes N/A 82 Actual/360 0.0523% 09/11/2011 N/A Lock/114_0%/6 Yes N/A 83 Actual/360 0.0523% 12/01/2011 N/A Lock/117_0%/3 Yes N/A 84 Actual/360 0.0523% 12/01/2011 N/A Lock/117_0%/3 Yes No 85 Actual/360 0.0523% 11/11/2011 N/A Lock/114_0%/6 Yes N/A 86 Actual/360 0.0523% 09/11/2011 N/A Lock/114_0%/6 Yes N/A 87 Actual/360 0.0523% 07/11/2011 N/A Lock/114_0%/6 Yes No 88 Actual/360 0.0523% 11/01/2031 11/1/11 Lock/116_0%/4 Yes N/A 89 Actual/360 0.1323% 01/01/2012 N/A Lock/116_0%/4 Yes No 90 Actual/360 0.1023% 02/01/2012 N/A Lock/117_0%/3 Yes N/A 91 Actual/360 0.0523% 12/01/2011 N/A Lock/117_0%/3 Yes No 92 Actual/360 0.0523% 01/01/2027 1/1/12 Lock/116_0%/4 Yes N/A 93 Actual/360 0.0523% 12/11/2011 N/A Lock/117_0%/3 Yes N/A 94 Actual/360 0.0523% 02/01/2027 2/1/12 Lock/116_0%/4 Yes N/A 95 Actual/360 0.0523% 12/01/2011 N/A Lock/117_0%/3 Yes N/A 96 Actual/360 0.0523% 09/01/2011 N/A Lock/117_0%/3 Yes N/A 97 Actual/360 0.0523% 10/11/2011 N/A Lock/114_0%/6 Yes N/A 98 Actual/360 0.1323% 03/01/2022 N/A Lock/236_0%/4 Yes N/A 99 Actual/360 0.0523% 10/11/2011 N/A Lock/117_0%/3 Yes N/A 100 Actual/360 0.0523% 11/01/2009 N/A Lock/114_0%/6 Yes Yes 101 Actual/360 0.0823% 02/01/2012 N/A Lock/116_0%/4 Yes N/A 102 Actual/360 0.0523% 11/01/2011 N/A Lock/117_0%/3 Yes N/A 103 Actual/360 0.0823% 12/01/2011 N/A Lock/116_0%/4 Yes N/A 104 Actual/360 0.0523% 11/11/2011 N/A Lock/114_0%/6 Yes N/A 105 Actual/360 0.0523% 12/11/2011 N/A Lock/117_0%/3 Yes N/A 106 Actual/360 0.1323% 01/01/2012 N/A Lock/116_0%/4 Yes N/A 107 Actual/360 0.0523% 10/11/2011 N/A Lock/114_0%/6 Yes N/A 108 Actual/360 0.1323% 10/01/2011 N/A Lock/35_YM1/81_0%/4 No N/A 109 Actual/360 0.0523% 11/11/2011 N/A Lock/117_0%/3 Yes N/A 110 Actual/360 0.0523% 12/11/2011 N/A Lock/114_0%/6 Yes N/A 111 Actual/360 0.0523% 09/11/2011 N/A Lock/117_0%/3 Yes N/A 112 Actual/360 0.0523% 10/11/2011 N/A Lock/114_0%/6 Yes N/A 113 Actual/360 0.0523% 10/11/2011 N/A Lock/114_0%/6 Yes N/A 114 Actual/360 0.0523% 11/11/2011 N/A Lock/114_0%/6 Yes No 115 Actual/360 0.0523% 09/11/2011 N/A Lock/114_0%/6 Yes N/A 116 Actual/360 0.0523% 09/11/2011 N/A Lock/114_0%/6 Yes N/A 117 Actual/360 0.0823% 03/01/2012 N/A Lock/116_0%/4 Yes N/A 118 Actual/360 0.0523% 09/11/2011 N/A Lock/114_0%/6 Yes N/A 119 Actual/360 0.0523% 10/11/2011 N/A Lock/114_0%/6 Yes N/A 120 Actual/360 0.0823% 01/01/2017 N/A Lock/176_0%/4 Yes N/A 121 Actual/360 0.0523% 10/11/2011 N/A Lock/114_0%/6 Yes N/A 122 Actual/360 0.0523% 07/11/2011 N/A Lock/114_0%/6 Yes N/A 123 Actual/360 0.0523% 07/11/2011 N/A Lock/114_0%/6 Yes N/A 124 Actual/360 0.0523% 12/11/2011 N/A Lock/114_0%/6 Yes N/A 125 Actual/360 0.0523% 10/11/2011 N/A Lock/117_0%/3 Yes N/A 126 Actual/360 0.0523% 11/11/2011 N/A Lock/114_0%/6 Yes N/A 127 Actual/360 0.0523% 09/11/2011 N/A Lock/117_0%/3 Yes N/A 128 Actual/360 0.0523% 12/11/2011 N/A Lock/114_0%/6 Yes N/A 129 Actual/360 0.0523% 10/11/2011 N/A Lock/114_0%/6 Yes No 130 Actual/360 0.0523% 10/11/2011 N/A Lock/114_0%/6 Yes N/A 131 Actual/360 0.0523% 08/11/2011 N/A Lock/114_0%/6 Yes N/A 132 Actual/360 0.1323% 10/01/2016 N/A Lock/176_0%/4 Yes N/A 133 Actual/360 0.0523% 07/11/2011 N/A Lock/114_0%/6 Yes N/A 134 Actual/360 0.0523% 10/11/2011 N/A Lock/117_0%/3 Yes N/A 135 Actual/360 0.0523% 11/11/2011 N/A Lock/114_0%/6 Yes N/A 136 Actual/360 0.0523% 10/11/2011 N/A Lock/114_0%/6 Yes N/A 137 Actual/360 0.0523% 08/11/2016 N/A Lock/174_0%/6 Yes N/A 138 Actual/360 0.1323% 01/01/2012 N/A Lock/116_0%/4 Yes N/A 139 Actual/360 0.0523% 09/11/2011 N/A Lock/114_0%/6 Yes N/A 140 Actual/360 0.0523% 09/11/2011 N/A Lock/114_0%/6 Yes N/A 141 Actual/360 0.0523% 07/11/2011 N/A Lock/114_0%/6 Yes N/A 142 Actual/360 0.0523% 07/11/2011 N/A Lock/114_0%/6 Yes N/A 143 Actual/360 0.0523% 07/11/2011 N/A Lock/114_0%/6 Yes N/A 144 Actual/360 0.0523% 08/11/2011 N/A Lock/114_0%/6 Yes N/A 145 Actual/360 0.0523% 10/11/2011 N/A Lock/114_0%/6 Yes N/A 146 Actual/360 0.0523% 10/11/2011 N/A Lock/114_0%/6 Yes N/A 147 Actual/360 0.0523% 09/11/2011 N/A Lock/114_0%/6 Yes N/A 148 Actual/360 0.0523% 12/11/2011 N/A Lock/114_0%/6 Yes N/A 149 Actual/360 0.0523% 06/11/2011 N/A Lock/114_0%/6 Yes N/A 150 Actual/360 0.0523% 08/11/2011 N/A Lock/114_0%/6 Yes N/A 151 Actual/360 0.0523% 08/11/2011 N/A Lock/114_0%/6 Yes N/A 152 Actual/360 0.0523% 10/11/2011 N/A Lock/114_0%/6 Yes N/A 153 Actual/360 0.0523% 09/11/2011 N/A Lock/117_0%/3 Yes N/A 154 Actual/360 0.0523% 07/11/2011 N/A Lock/114_0%/6 Yes N/A 155 Actual/360 0.0523% 10/11/2011 N/A Lock/114_0%/6 Yes N/A 156 Actual/360 0.0523% 06/11/2011 N/A Lock/114_0%/6 Yes N/A ENVIRONMENTAL FEE/ # INSURANCE LEASEHOLD LETTER OF CREDIT AMOUNT --- --------- --------- ----------------------- 1 No Fee $850,000 2 No Fee N/A 3 Yes Fee $150,000 4 FEE 4A No N/A 4B No N/A 4C No N/A 4D No N/A 4E No N/A 4F No N/A 4G No N/A 4H No N/A 4I No N/A 4J No N/A 4K No N/A 4L No N/A 4M No N/A 4N No N/A 4O No N/A 4P No N/A 4Q No N/A 4R No N/A 4S No N/A 4T No N/A 4U No N/A 4V No N/A 4W No N/A 4X No N/A 4Y No N/A 4Z No N/A 4AA No N/A 5 No Fee $0 6 Yes Fee $0 7 No Fee $0 8 No Fee $0 9 No Fee $0 10 #N/A Fee $0 11 #N/A Fee $0 12 No Fee $1,500,000 13 #N/A Fee $0 14 No Fee N/A 15 No Fee $0 16 No Fee N/A 17 No Fee $800,000 18 No Fee N/A 19 #N/A Fee $0 20 No Fee $0 21 No Fee $525,000 22 No Fee N/A 23 No Fee $0 24 No Fee $0 25 No Fee $0 26 No Fee N/A 27 No Fee N/A 28 No Fee N/A 29 No Fee $0 30 No Fee $0 31 No Fee $0 32 No Fee $0 33 No Fee $0 34 No Fee N/A 35 No Fee N/A 36 No Fee $0 37 #N/A Fee $0 38 #N/A Fee $0 39 No Fee N/A 40 No Fee N/A 41 #N/A Fee $0 42 No Fee $0 43 No Fee N/A 44 No Fee $0 45 No Fee $0 46 #N/A Fee $0 47 #N/A Fee $0 48 No Fee N/A 49 Yes Fee $0 50 No Fee $0 51 #N/A Fee $0 52 No Fee $0 53 No Fee N/A 54 #N/A Fee $0 55 No Fee N/A 56 #N/A Fee $0 57 No Fee N/A 58 No Fee $0 59 No Fee N/A 60 #N/A Fee $0 61 #N/A Fee $0 62 No Fee N/A 63 #N/A Fee $0 64 No Fee $250,000 65 No Fee N/A 66 #N/A Fee $0 67 #N/A Fee $0 68 #N/A Fee $0 69 #N/A Fee $0 70 No Fee N/A 71 No Fee N/A 72 #N/A Fee $0 73 No Fee $0 74 #N/A Fee $0 75 #N/A Fee $0 76 #N/A Fee $0 77 No Fee $0 78 #N/A Leasehold $0 79 #N/A Fee $0 80 #N/A Fee $0 81 #N/A Fee $0 82 #N/A Fee $0 83 #N/A Fee $0 84 #N/A Fee $0 85 #N/A Fee $0 86 #N/A Fee $0 87 #N/A Fee $0 88 #N/A Fee $0 89 Yes Fee N/A 90 #N/A Fee $0 91 #N/A Fee $0 92 No Fee $0 93 #N/A Fee $0 94 #N/A Fee $0 95 #N/A Fee $0 96 #N/A Fee $0 97 #N/A Fee $0 98 Yes Fee N/A 99 #N/A Fee $0 100 #N/A Fee $0 101 Yes Fee N/A 102 #N/A Fee $0 103 #N/A Fee N/A 104 #N/A Fee $0 105 #N/A Fee $0 106 Yes Fee N/A 107 #N/A Fee $0 108 No Fee N/A 109 #N/A Fee $0 110 #N/A Fee $0 111 #N/A Fee $0 112 #N/A Fee $0 113 #N/A Fee $0 114 #N/A Fee $0 115 #N/A Fee $0 116 #N/A Fee $0 117 Yes Fee N/A 118 #N/A Fee $0 119 #N/A Fee $0 120 #N/A Fee N/A 121 #N/A Fee $0 122 #N/A Fee $0 123 #N/A Fee $0 124 #N/A Fee $0 125 #N/A Fee $0 126 #N/A Fee $0 127 #N/A Fee $0 128 #N/A Fee $0 129 #N/A Fee $0 130 #N/A Fee $0 131 #N/A Fee $0 132 #N/A Fee N/A 133 #N/A Fee $0 134 #N/A Fee $0 135 #N/A Fee $0 136 #N/A Fee $0 137 #N/A Fee $0 138 #N/A Fee N/A 139 #N/A Fee $0 140 #N/A Fee $0 141 #N/A Fee $0 142 #N/A Fee $0 143 #N/A Fee $0 144 #N/A Fee $0 145 #N/A Fee $0 146 #N/A Fee $0 147 #N/A Fee $0 148 #N/A Fee $0 149 #N/A Fee $0 150 #N/A Fee $0 151 #N/A Fee $0 152 #N/A Fee $0 153 #N/A Fee $0 154 #N/A Fee $0 155 #N/A Fee $0 156 #N/A Fee $0 # LETTER OF CREDIT DESCRIPTION --- ---------------------------- 1 Homelife Letter of Credit ($850,000) 2 N/A 3 Replacement Reserve Escrow & Security Agreement 4 4A N/A 4B N/A 4C N/A 4D N/A 4E N/A 4F N/A 4G N/A 4H N/A 4I N/A 4J N/A 4K N/A 4L N/A 4M N/A 4N N/A 4O N/A 4P N/A 4Q N/A 4R N/A 4S N/A 4T N/A 4U N/A 4V N/A 4W N/A 4X N/A 4Y N/A 4Z N/A 4AA N/A 5 N/A 6 N/A 7 N/A 8 N/A 9 N/A 10 N/A 11 N/A 12 Organized Living Letter of Credit ($1,000,000); Pottery Barn Letter of Credit ($500,000) 13 N/A 14 N/A 15 N/A 16 N/A 17 Mitigate possible exposure to lawsuit against Home Depot and coutersued against borrower. 18 N/A 19 N/A 20 N/A 21 TILC Letter of Credit 22 N/A 23 N/A 24 N/A 25 N/A 26 N/A 27 N/A 28 N/A 29 N/A 30 N/A 31 N/A 32 N/A 33 N/A 34 N/A 35 N/A 36 N/A 37 N/A 38 N/A 39 N/A 40 N/A 41 N/A 42 N/A 43 N/A 44 N/A 45 N/A 46 N/A 47 N/A 48 N/A 49 N/A 50 N/A 51 N/A 52 N/A 53 N/A 54 N/A 55 N/A 56 N/A 57 N/A 58 N/A 59 N/A 60 N/A 61 N/A 62 N/A 63 N/A 64 Security Deposit 65 N/A 66 N/A 67 N/A 68 N/A 69 N/A 70 N/A 71 N/A 72 N/A 73 N/A 74 N/A 75 N/A 76 N/A 77 N/A 78 N/A 79 N/A 80 N/A 81 N/A 82 N/A 83 N/A 84 N/A 85 N/A 86 N/A 87 N/A 88 N/A 89 N/A 90 N/A 91 N/A 92 N/A 93 N/A 94 N/A 95 N/A 96 N/A 97 N/A 98 N/A 99 N/A 100 N/A 101 N/A 102 N/A 103 N/A 104 N/A 105 N/A 106 N/A 107 N/A 108 N/A 109 N/A 110 N/A 111 N/A 112 N/A 113 N/A 114 N/A 115 N/A 116 N/A 117 N/A 118 N/A 119 N/A 120 N/A 121 N/A 122 N/A 123 N/A 124 N/A 125 N/A 126 N/A 127 N/A 128 N/A 129 N/A 130 N/A 131 N/A 132 N/A 133 N/A 134 N/A 135 N/A 136 N/A 137 N/A 138 N/A 139 N/A 140 N/A 141 N/A 142 N/A 143 N/A 144 N/A 145 N/A 146 N/A 147 N/A 148 N/A 149 N/A 150 N/A 151 N/A 152 N/A 153 N/A 154 N/A 155 N/A 156 N/A
(A) THE UNDERLYING MORTGAGE LOANS SECURED BY TUTTLE CROSSING, WESTERN HILLS MARKETPLACE, AND MONTGOMERY CROSSING ARE CROSS-COLLATERALIZED AND CROSS-DEFAULTED, RESPECTIVELY. THESE LOANS ARE REFERRED TO COLLECTIVELY AS THE "SSC PORTFOLIO" IN THE PROSPECTUS. (B) THE UNDERLYING MORTGAGE LOANS SECURED BY HAWTHORNE APARTMENTS AND PINECREST APARTMENTS ARE CROSS-COLLATERALIZED AND CROSS-DEFAULTED, RESPECTIVELY. (1) ASSUMES A CUT-OFF DATE OF MARCH 11, 2002. (2) THE UNDERLYING MORTGAGE LOAN SECURED BY RAYTHEON BUILDING REQUIRES MONTHLY PAYMENTS OF: $137,921.98 FROM 2/1/2002 THROUGH AND INCLUDING 7/1/2003 $146,639.90 FROM 8/1/2003 THROUGH AND INCLUDING 1/1/2006 $170,486.40 FROM 2/1/2006 THROUGH AND INCLUDING 1/1/2008, AND $127,870.83 FROM 2/1/2008 THROUGH THE REMAINDER OF THE TERM. (3) IN THE CASE OF THE ARD LOANS, THE ANTICIPATED REPAYMENT DATE IS ASSUMED TO BE THE MATURITY DATE FOR THE PURPOSES OF THE INDICATED COLUMN. (4) ANTICIPATED REPAYMENT DATE. (5) PREPAYMENT PROVISION AS OF ORIGINATION: LOCK/(x) = LOCKOUT OR DEFEASANCE FOR (x) PAYMENTS YMA/(x) = GREATER OF YIELD MAINTENANCE PREMIUM AND A% PREPAYMENT FOR (x) PAYMENTS A%/(x) = A% PREPAYMENT FOR (x) PAYMENTS 0%/(x) = PREPAYABLE AT PAR FOR (x) PAYMENTS (6) "YES" MEANS THAT DEFEASANCE IS PERMITTED NOTWITHSTANDING THE LOCKOUT PERIOD. SCHEDULE III MORTGAGE LOANS CONSTITUTING MORTGAGE GROUPS NONE SCHEDULE IV MORTGAGE LOANS WITH LOST NOTES NONE SCHEDULE V EXCEPTIONS TO SELLER'S REPRESENTATIONS AND WARRANTIES Reference is made to the Representations and Warranties contained in Exhibit A corresponding to the roman numerals listed below: Exceptions to Section (ix) 940924261 DEER RUN APARTMENTS. The Miscellaneous Escrow Agreement deadline was extended to April 30, 2003 for the purpose of providing proof that the disposal of lead based curbs has been completed and to obtain Law &Ordinance insurance coverage. The escrowed amount is $50,000. The extension was needed to verify the disposal of lead based curbs, which was accomplished by the Closing Date, and to obtain Law & Ordinance insurance coverage from a different insurer. The original insurer wanted to change the terms of coverage on the eve of issuance at significant additional cost to the Borrower, but agreed to provide two months' coverage (commencing mid-March 2002) at no cost to allow the Borrower time to obtain coverage from another insurer. It is anticipated that the new coverage will be obtained without further extension of the deadline. 940926856 BROOKWOOD VILLAGE. The Post-Closing Agreement deadline was extended to May 17, 2002 for the purpose of finalizing the borrower's tax protest. Real estate taxes for 2000 and 2001 have not been paid but are being contested by the Borrower with a board of tax appeals. Approximately $146,670 has been placed in escrow with the title insurance company that issued the related lender's title insurance policy, and such policy contains no exception for such prior years' taxes or interest or penalties thereon. 940927656 SPRADLIN FARMS. The Post Closing Agreement deadline was extended to April 30, 2002 for the purpose of obtaining two updated lease estoppels for leases with Barnes & Noble Booksellers and Michaels. The escrowed amount is $20,000. The lessees are withholding their estoppels until certain final construction issues are resolved. The Borrower believes that these issues will be resolved at no additional cost. It is anticipated that the estoppels will be provided without further extension of the deadline. 940927633 OAKS OF ASHFORD. The Post Closing Agreement deadline was extended to April 30, 2002 for the purpose of: obtaining a new survey showing the proposed sewer line easement, recording the easement upon Lender's approval, and to deliver to the Lender an endorsement to the title insurance policy reflecting the new easement and the previously excluded 0.1139 acres occupied by the playground. The escrowed amount is $1,500. 940926551 SPRING HOLLOW APARTMENTS. The Deferred Maintenance Escrow Agreement deadline was extended to June 15, 2002. The seal coating for the parking lot will not be successful until the weather is drier. The escrowed amount is $5,206. Exception to Section (x) 940926856 BROOKWOOD VILLAGE TOWNHOMES. Real estate taxes for 2000 and 2001 have not been paid but are being contested by the Borrower with a board of tax appeals. Approximately $146,670 has been placed in escrow with the title insurance company which issued the related lender's title insurance policy, and such policy contains no exception for such prior years' taxes or interest or penalties thereon. Exception to Section (xiii) 940926856 BROOKWOOD VILLAGE TOWNHOMES. Real estate taxes for 2000 and 2001 have not been paid but are being contested by the Borrower with a board of tax appeals. Approximately $146,670 has been placed in escrow with the title insurance company which issued the related lender's title insurance policy, and such policy contains no exception for such prior years' taxes or interest or penalties thereon. Exception to Section (xxi) Under the following two loans, monthly tax escrow payments have been waived but may be required upon the occurrence of an event of default: 940927950 COUNTRY CREEK APARTMENTS 940928859 HONEYWELL BUILDING 940926856 BROOKWOOD VILLAGE TOWNHOMES. Real estate taxes for 2000 and 2001 have not been paid but are being contested by the Borrower with a board of tax appeals. Approximately $146,670 has been placed in escrow with the title insurance company which issued the related lender's title insurance policy, and such policy contains no exception for such prior years' taxes or interest or penalties thereon. Exception to Section (xxiii) The related Mortgaged Property for the following loans is covered by business interruption or rental loss insurance for a period of six months: 940927519 CHAPEL RIDGE I 940928463 CHAPEL RIDGE II 940927722 CHAPEL RIDGE HAYSVILLE 940928464 CHAPEL RIDGE EMPORIA Exceptions to Section (xxviii) Each of the following loans does not provide for acceleration of indebtedness if, without the consent of the holder of the loan, a majority interest in the related Borrower is transferred by virtue of an involuntary change in ownership resulting from a death or physical or mental disability and does not require the mortgagor to pay the holder's fees and costs associated therewith: 940928182 COLONIAL GRAND APARTMENTS. 940928992 LOCKE SOVRAN PORTFOLIO LOAN. Exception to Section (xlviii) 940928992 LOCKE SOVRAN PORTFOLIO LOAN. Individual related Mortgaged Properties may be released by the Borrower's substitution of a new mortgaged real property pursuant to the conditions of a property substitution agreement to which the Borrower is a party. The conditions of the agreement include, among other requirements, the Borrower's payment of all costs associated with any such substitution, the delivery of a confirmation in writing by each applicable rating agency that the substitution would not result in a qualification, downgrade or withdrawal of any its then current ratings of the Certificates, the delivery of acceptable legal opinions of independent counsel regarding the substitution (including certain REMIC matters) and the delivery of satisfactory evidence that the debt service coverage ratio for such Mortgage Loan following the substitution is equal to or greater than the debt service coverage ratio for such Mortgage Loan as of its origination and as of the date of such substitution. EXHIBIT A REPRESENTATIONS AND WARRANTIES OF SELLER REGARDING THE MORTGAGE LOANS (i) Immediately prior to the sale, transfer and assignment to the Depositor, no Note or Mortgage was subject to any assignment (other than assignments which show a complete chain of assignment to the Seller), participation or pledge, and the Seller had good and marketable title to, and was the sole owner of, the related Mortgage Loan; (ii) Each Mortgage Loan was either: (A) originated by a savings and loan association, savings bank, commercial bank, credit union, or insurance company, which is supervised and examined by a Federal or State authority, or by a mortgagee approved by the Secretary of Housing and Urban Development pursuant to Sections 203 and 211 of the National Housing Act (any of the foregoing, including the Seller, a "Qualified Originator"); or (B) if originated by a person which is not a Qualified Originator (any such person, a "Non-Qualified Originator"), then: (1) such Mortgage Loan was underwritten in accordance with standards established by a Qualified Originator, using application forms and related credit documents approved by the Qualified Originator; (2) the Qualified Originator approved each application and related credit documents before a commitment by the Non-Qualified Originator was issued, and no such commitment was issued until the Qualified Originator agreed to fund such Mortgage Loan; (3) the Mortgage Loan was originated by the Non-Qualified Originator pursuant to an ongoing, standing relationship with the Qualified Originator; and (4) the closing documents for the Mortgage Loan were prepared on forms approved by the Qualified Originator, and, pursuant to the Non-Qualified Originator's ongoing, standing relationship with the Qualified Originator, either: (a) such closing documents reflect the Qualified Originator as the original mortgagee, and such Mortgage Loan was actually funded by the Qualified Originator at the closing thereof; (b) such closing documents reflect the Non-Qualified Originator as the original mortgagee, but include assignment documents executed by the Non-Qualified Originator in favor of the Qualified Originator at the time of the closing of the Mortgage Loan, reflecting the Qualified Originator as the successor and assign to the Non-Qualified Originator, and the Mortgage Loan was funded initially by the Non-Qualified Originator at the closing thereof and then acquired by the Qualified Originator from such Non-Qualified Originator; or (c) such closing documents reflect the Non-Qualified Originator as the original mortgagee, but include assignment documents executed by the Non-Qualified Originator in favor of the Qualified Originator at the time of the closing of the Mortgage Loan, reflecting the Qualified Originator as the successor and assign to the Non-Qualified Originator, and the Mortgage Loan was funded initially by the Qualified Originator at the closing thereof and then acquired by the Qualified Originator from such Non-Qualified Originator. (iii) The Seller has full right and authority to sell, assign and transfer such Mortgage Loan and the assignment to the Depositor constitutes a legal, valid and binding assignment of such Mortgage Loan; (iv) The Seller is transferring such Mortgage Loan free and clear of any and all liens, pledges, charges or security interests of any nature encumbering such Mortgage Loan; (v) As of origination, to Seller's knowledge, based on the related borrower's representations and covenants in the related mortgage loan documents, the borrower, lessee and/or operator was in possession of all licenses, permits, and authorizations then required for use of the Mortgaged Property which were valid and in full force and effect as of the origination date; (vi) Each related Note, Mortgage, assignment of leases (if any) and other agreement executed by or for the benefit of the related borrower, any guarantor or their successors or assigns in connection with such Mortgage Loan is the legal, valid and binding obligation of the related borrower, enforceable in accordance with its terms, except as such enforcement may be limited by bankruptcy, insolvency, reorganization, moratorium or other laws affecting the enforcement of creditors' rights or by general principles of equity (regardless of whether such enforceability is considered in a proceeding in equity or at law); and there is no valid offset, defense, counterclaim, or right of rescission available to the related borrower with respect to such Note, Mortgage, assignment of leases and other agreements, except as the enforcement thereof may be limited by bankruptcy, insolvency, reorganization, moratorium or other laws affecting the enforcement of creditors' rights or by general principles of equity (regardless of whether such enforceability is considered in a proceeding in equity or at law); (vii) Each related assignment of leases creates a valid first priority collateral assignment of, or a valid first priority lien or security interest in, certain rights under the related lease or leases, subject only to a license granted to the related borrower to exercise certain rights and to perform certain obligations of the lessor under such lease or leases, including the right to operate the related leased property, except as the enforcement thereof may be limited by bankruptcy, insolvency, reorganization, moratorium or other laws affecting the enforcement of creditors' rights or by general principles of equity (regardless of whether such enforceability is considered in a proceeding in equity or at law); no person other than the related borrower owns any interest in any payments due under such lease or leases that is superior to or of equal priority with the lender's interest therein; (viii) Each related assignment of Mortgage from the Seller to the Depositor and related assignment of the assignment of leases, if any, or assignment of any other agreement executed by or for the benefit of the related borrower, any guarantor or their successors or assigns in connection with such Mortgage Loan from the Seller to the Depositor constitutes the legal, valid and binding assignment from the Seller to the Depositor, except as the enforcement thereof may be limited by bankruptcy, insolvency, reorganization, liquidation, receivership, moratorium or other laws relating to or affecting the enforcement of creditors' rights or by general principles of equity (regardless of whether such enforceability is considered in a proceeding in equity or at law); (ix) Since origination (a) except as set forth in the related mortgage file, such Mortgage Loan has not been modified, altered, satisfied, canceled, subordinated or rescinded and (b) each related Mortgaged Property has not been released from the lien of the related Mortgage in any manner which materially interferes with the security intended to be provided by such Mortgage; (x) Each related Mortgage is a valid and enforceable first lien on the related Mortgaged Property (subject to Permitted Encumbrances (as defined below)), except as the enforcement thereof may be limited by bankruptcy, insolvency, reorganization, moratorium or other laws affecting the enforcement of creditors' rights or by general principles of equity (regardless of whether such enforceability is considered in a proceeding in equity or at law); and such Mortgaged Property is free and clear of any mechanics' and materialmen's liens which are prior to or equal with the lien of the related Mortgage, except those which are insured against by a lender's title insurance policy (as described below). A UCC financing statement has been filed and/or recorded (or sent for filing or recording) in all places necessary to perfect a valid security interest in the personal property necessary to operate the Mortgaged Property; any security agreement, chattel mortgage or equivalent document related to and delivered in connection with the Mortgage Loan establishes and creates a valid and enforceable lien on property described therein, except as such enforcement may be limited by bankruptcy, insolvency, reorganization, moratorium or other laws affecting the enforcement of creditors' rights or by general principles of equity (regardless of whether such enforceability is considered in a proceeding in equity or at law); (xi) The Seller has not taken any action that would cause the representations and warranties made by the related borrower in the related Mortgage Loan Documents not to be true; (xii) The Seller has no knowledge that the material representations and warranties made by the related borrower in the related Mortgage Loan Documents are not true in any material respect; (xiii) The lien of each related Mortgage is a first priority lien on the fee or leasehold interest of the related borrower in the principal amount of such Mortgage Loan or allocated loan amount of the portions of the Mortgaged Property covered thereby (as set forth in the related Mortgage) after all advances of principal and is insured by an ALTA lender's title insurance policy (or a binding commitment therefor), or its equivalent as adopted in the applicable jurisdiction, insuring the Seller and its successors and assigns as to such lien, subject only to (a) the lien of current real property taxes, ground rents, water charges, sewer rents and assessments not yet delinquent or accruing interest or penalties, (b) covenants, conditions and restrictions, rights of way, easements and other matters of public record, none of which, individually or in the aggregate, materially interferes with the current use of the Mortgaged Property or the security intended to be provided by such Mortgage or with the borrower's ability to pay its obligations when they become due or the value of the Mortgaged Property and (c) the exceptions (general and specific) and exclusions set forth in such policy, none of which, individually or in the aggregate, materially interferes with the current general use of the Mortgaged Property or materially interferes with the security intended to be provided by such Mortgage or with the related borrower's ability to pay its obligations when they become due or the value of the Mortgaged Property (items (a), (b) and (c) collectively, "Permitted Encumbrances"); the premium for such policy was paid in full; such policy (or if it is yet to be issued, the coverage to be afforded thereby) is issued by a title insurance company licensed to issue policies in the state in which the related Mortgaged Property is located (unless such state is Iowa) and is assignable (with the related Mortgage Loan) to the Depositor and the Trustee without the consent of or any notification to the insurer, and is in full force and effect upon the consummation of the transactions contemplated by the Mortgage Loan Purchase Agreement; no claims have been made under such policy and the Seller has not undertaken any action or omitted to take any action, and has no knowledge of any such act or omission, which would impair or diminish the coverage of such policy; (xiv) The proceeds of such Mortgage Loan have been fully disbursed and there is no requirement for future advances thereunder, and no future advances have been made which are not reflected in the related mortgage file; (xv) Except as set forth in a property inspection report or engineering report prepared in connection with the origination of the Mortgage Loan, as of the later of the date of origination of such Mortgage Loan or the most recent inspection of the related Mortgaged Property by the Seller, as applicable, and to the knowledge of Seller as of the date hereof, each related Mortgaged Property is free of any material damage that would affect materially and adversely the use or value of such Mortgaged Property as security for the Mortgage Loan (normal wear and tear excepted) or reserves have been established to cover the costs to remediate such damage and, as of the closing date for each Mortgage Loan and, to the Seller's knowledge, as of the date hereof, there is no proceeding pending for the total or partial condemnation of such Mortgaged Property that would have a material adverse effect on the use or value of the Mortgaged Property; (xvi) The Seller has inspected or caused to be inspected each related Mortgaged Property within the past twelve months, or the originator of the Mortgage Loan inspected or caused to be inspected each related Mortgaged Property within three months of origination of the Mortgage Loan; (xvii) No Mortgage Loan has a shared appreciation feature, any other contingent interest feature or a negative amortization feature other than the ARD Loans which may have negative amortization from and after the Anticipated Repayment Date; (xviii) Each Mortgage Loan is a whole loan and contains no equity participation by Seller; (xix) The Mortgage Rate (exclusive of any default interest, late charges, or prepayment premiums) of such Mortgage Loan complied as of the date of origination with, or was exempt from, applicable state or federal laws, regulations and other requirements pertaining to usury. Except to the extent any noncompliance did not materially and adversely affect the value of the related Mortgaged Property, the security provided by the Mortgage or the related borrower's operations at the related Mortgaged Property, any and all other requirements of any federal, state or local laws, including, without limitation, truth-in-lending, real estate settlement procedures, equal credit opportunity or disclosure laws, applicable to such Mortgage Loan have been complied with as of the date of origination of such Mortgage Loan; (xx) Neither the Seller nor to the Seller's knowledge, any originator, committed any fraudulent acts during the origination process of any Mortgage Loan and the origination, servicing and collection of each Mortgage Loan is in all respects legal, proper and prudent in accordance with customary commercial mortgage lending standards, and no other person has been granted or conveyed the right to service the Mortgage Loans or receive any consideration in connection therewith, except as provided in the Pooling and Servicing Agreement or any permitted subservicing agreements; (xxi) All taxes and governmental assessments that became due and owing prior to the date hereof with respect to each related Mortgaged Property and that are or may become a lien of priority equal to or higher than the lien of the related Mortgage have been paid or an escrow of funds has been established and such escrow (including all escrow payments required to be made prior to the delinquency of such taxes and assessments) is sufficient to cover the payment of such taxes and assessments; (xxii) All escrow deposits and payments required pursuant to each Mortgage Loan are in the possession, or under the control, of the Seller or its agent and there are no deficiencies (subject to any applicable grace or cure periods) in connection therewith and all such escrows and deposits are being conveyed by the Seller to the Depositor and identified as such with appropriate detail; (xxiii) Each related Mortgaged Property is insured by a fire and extended perils insurance policy, issued by an insurer meeting the requirements of the Pooling and Servicing Agreement, in an amount not less than the lesser of the principal amount of the related Mortgage Loan and the replacement cost (with no deduction for physical depreciation) and not less than the amount necessary to avoid the operation of any co-insurance provisions with respect to the related Mortgaged Property; each related Mortgaged Property is also covered by business interruption or rental loss insurance which covers a period of not less than 12 months and comprehensive general liability insurance in amounts generally required by prudent commercial mortgage lenders for similar properties; all premiums on such insurance policies required to be paid as of the date hereof have been paid; such insurance policies require prior notice to the insured of termination or cancellation, and no such notice has been received by the Seller; such insurance names the lender under the Mortgage Loan and its successors and assigns as a named or additional insured; each related Mortgage Loan obligates the related borrower to maintain all such insurance and, at such borrower's failure to do so, authorizes the lender to maintain such insurance at the borrower's cost and expense and to seek reimbursement therefor from such borrower; (xxiv) There is no monetary default, breach, violation or event of acceleration existing under the related Mortgage Loan. To the Seller's knowledge, there is no (a) non-monetary default, breach, violation or event of acceleration existing under the related Mortgage Loan or (b) event (other than payments due but not yet delinquent) which, with the passage of time or with notice and the expiration of any grace or cure period, would and does constitute a default, breach, violation or event of acceleration, which default, breach, violation or event of acceleration, in the case of either (a) or (b), materially and adversely affects the use or value of the Mortgage Loan or the related Mortgaged Property; provided, however, that this representation and warranty does not address or otherwise cover any default, breach, violation or event of acceleration that specifically pertains to any matter otherwise covered by any other representation or warranty made by the Seller in any of paragraphs (xiii), (xxi), (xxv), (xxvii), (xxix), and (xxxi) of this Exhibit A-1; (xxv) No Mortgage Loan has been more than 30 days delinquent in making required payments since origination and as of the Cut-off Date no Mortgage Loan is 30 or more days delinquent in making required payments; (xxvi) (a) Each related Mortgage contains provisions so as to render the rights and remedies of the holder thereof adequate for the practical realization against the Mortgaged Property of the principal benefits of the security, including realization by judicial or, if applicable, non-judicial foreclosure or, subject to applicable state law requirements, appointment of a receiver, and (b) there is no exemption available to the borrower which would interfere with such right to foreclose, except, in the case of either (a) or (b), as the enforcement of the Mortgage may be limited by bankruptcy, insolvency, reorganization, moratorium, redemption or other laws affecting the enforcement of creditors' rights or by general principles of equity (regardless of whether such enforceability is considered in a proceeding in equity or at law). To the Seller's knowledge, no borrower is a debtor in a state or federal bankruptcy or insolvency proceeding; (xxvii) At origination, each borrower represented and warranted in all material respects that to its knowledge, except as set forth in certain environmental reports and, except as commonly used in the operation and maintenance of properties of similar kind and nature to the Mortgaged Property, in accordance with prudent management practices and applicable law, and in a manner that does not result in any contamination of the Mortgaged Property, it has not used, caused or permitted to exist and will not use, cause or permit to exist on the related Mortgaged Property any hazardous materials in any manner which violates federal, state or local laws, ordinances, regulations, orders, directives or policies governing the use, storage, treatment, transportation, manufacture, refinement, handling, production or disposal of hazardous materials or other environmental laws; the related borrower or an affiliate thereof agreed to indemnify, defend and hold the mortgagee and its successors and assigns harmless from and against losses, liabilities, damages, injuries, penalties, fines, expenses, and claims of any kind whatsoever (including attorneys' fees and costs) paid, incurred or suffered by, or asserted against, any such party resulting from a breach of the foregoing representations, warranties or covenants given by the borrower in connection with such Mortgage Loan. A Phase I environmental report and with respect to certain Mortgage Loans, a Phase II environmental report, was conducted by a reputable environmental consulting firm in connection with such Mortgage Loan, which report did not indicate any material non-compliance with applicable environmental laws or material existence of hazardous materials or, if any material non-compliance or material existence of hazardous materials was indicated in any such report, then at least one of the following statements is true: (A) funds reasonably estimated to be sufficient to cover the cost to cure any material non-compliance with applicable environmental laws or material existence of hazardous materials have been escrowed by the related borrower and held by the related mortgagee; (B) an operations or maintenance plan has been required to be obtained by the related borrower; (C) the environmental condition identified in the related environmental report was remediated or abated in all material respects prior to the date hereof; (D) a no further action or closure letter was obtained from the applicable governmental regulatory authority (or the environmental issue affecting the related Mortgaged Property was otherwise listed by such governmental authority as "closed"); (E) such conditions or circumstances identified in the Phase I environmental report were investigated further and based upon such additional investigation, an environmental consultant recommended no further investigation or remediation; (F) a party with financial resources reasonably estimated to be adequate to cure the condition or circumstance provided a guaranty or indemnity to the related borrower to cover the costs of any required investigation, testing, monitoring or remediation; (G) the expenditure of funds reasonably estimated to be necessary to effect such remediation is not greater than two percent (2%) of the outstanding principal balance of the related Mortgage Loan; or (H) a lender's environmental insurance policy was obtained and is a part of the related mortgage file. Notwithstanding the preceding sentence, with respect to certain Mortgage Loans with an original principal balance of less than $3,000,000, no environmental report may have been obtained, but (in such cases where a Phase I environmental report was not obtained) a lender's secured creditor impairment environmental insurance policy was obtained with respect to each such Mortgage Loan and is a part of the related mortgage file. Each of such environmental insurance policies is in full force and effect, the premiums for such policies have been paid in full and the Trustee is named as an insured under each of such policies. To the best of the Seller's knowledge, in reliance on such environmental reports and except as set forth in such environmental reports, each Mortgaged Property is in material compliance with all applicable federal, state and local environmental laws, and to the best of the Seller's knowledge, no notice of violation of such laws has been issued by any governmental agency or authority, except, in all cases, as indicated in such environmental reports or other documents previously provided to the Rating Agencies; and the Seller has not taken any action which would cause the Mortgaged Property to not be in compliance with all federal, state and local environmental laws pertaining to environmental hazards; (xxviii) (1) Each Mortgage Loan contains provisions for the acceleration of the payment of the unpaid principal balance of such Mortgage Loan if, without the consent of the holder of the Mortgage (and the Mortgage requires the mortgagor to pay all fees and expenses associated with obtaining such consent), the related Mortgaged Property is directly or indirectly transferred or sold, and (2) except with respect to transfers of certain interests in the related Borrower to persons already holding interests in the Borrower, their family members, affiliated companies and other estate planning related transfers that satisfy certain criteria specified in the related Mortgage (which criteria is consistent with the practices of prudent commercial mortgage lenders), each Mortgage Loan with a Stated Principal Balance of over $20,000,000 also contains the provisions for the acceleration of the payment of the unpaid principal balance of such Mortgage Loan if, without the consent of the holder of the Mortgage, (and the Mortgage requires the mortgagor to pay all fees and expenses associated with obtaining such consent) a majority interest in the related Borrower is directly or indirectly transferred or sold; (xxix) All improvements included in the related appraisal are within the boundaries of the related Mortgaged Property, except for encroachments onto adjoining parcels for which the Seller has obtained title insurance against losses arising therefrom or that do not materially and adversely affect the use or value of such Mortgaged Property. No improvements on adjoining parcels encroach onto the related Mortgaged Property except for encroachments that do not materially and adversely affect the value of such Mortgaged Property, the security provided by the Mortgage or the related borrower's operations at the Mortgaged Property; (xxx) The information pertaining to the Mortgage Loans which is set forth in the mortgage loan schedule attached as an exhibit to this Mortgage Loan Purchase Agreement is complete and accurate in all material respects as of the dates of the information set forth therein (or, if not set forth therein, as of the Cut-Off Date); (xxxi) With respect to any Mortgage Loan where all or a material portion of the estate of the related borrower therein is a leasehold estate, and the related Mortgage does not also encumber the related lessor's fee interest in such Mortgaged Property, based upon the terms of the ground lease and any estoppel received from the ground lessor, the Seller represents and warrants that: (A) The ground lease or a memorandum regarding such ground lease has been duly recorded. The ground lease permits the interest of the lessee to be encumbered by the related Mortgage and does not restrict the use of the related Mortgaged Property by such lessee, its successors or assigns in a manner that would adversely affect the security provided by the related Mortgage. To the Seller's best knowledge, there has been no material change in the terms of the ground lease since its recordation, except by any written instruments which are included in the related mortgage file; (B) The lessor under such ground lease has agreed in a writing included in the related mortgage file that the ground lease may not be amended, modified, canceled or terminated without the prior written consent of the lender and that any such action without such consent is not binding on the lender, its successors or assigns; (C) The ground lease has an original term (or an original term plus one or more optional renewal terms, which, under all circumstances, may be exercised, and will be enforceable, by the lender) that extends not less than 20 years beyond the stated maturity of the related Mortgage Loan; (D) Based on the title insurance policy (or binding commitment therefor) obtained by the Seller, the ground lease is not subject to any liens or encumbrances superior to, or of equal priority with, the Mortgage, subject to Permitted Encumbrances and liens that encumber the ground lessor's fee interest; (E) The ground lease is assignable to the lender under the ground lease and its assigns without the consent of the lessor thereunder; (F) As of the Closing Date, the ground lease is in full force and effect, the Seller has no actual knowledge that any default beyond applicable notice and grace periods has occurred, and there is no existing condition which, but for the passage of time or giving of notice, would result in a default under the terms of the ground lease; (G) The ground lease or an ancillary agreement between the lessor and the lessee which is part of the Mortgage File, requires the lessor to give notice of any default by the lessee to the lender; (H) A lender is permitted a reasonable opportunity (including, where necessary, sufficient time to gain possession of the interest of the lessee under the ground lease through legal proceedings, or to take other action so long as the lender is proceeding diligently) to cure any default under the ground lease which is curable after the receipt of notice of any default before the lessor may terminate the ground lease. All rights of the lender under the ground lease and the related Mortgage (insofar as it relates to the ground lease) may be exercised by or on behalf of the lender; (I) The ground lease does not impose any restrictions on subletting that would be viewed as commercially unreasonable by an institutional investor. The lessor is not permitted to disturb the possession, interest or quiet enjoyment of any subtenant of the lessee in the relevant portion of the Mortgaged Property subject to the ground lease for any reason, or in any manner, which would adversely affect the security provided by the related Mortgage; (J) Under the terms of the ground lease and the related Mortgage, any related insurance proceeds or condemnation award (other than in respect of a total or substantially total loss or taking) will be applied either to the repair or restoration of all or part of the related Mortgaged Property, with the lender or a trustee appointed by it having the right to hold and disburse such proceeds as repair or restoration progresses, or to the payment of the outstanding principal balance of the Mortgage Loan, together with any accrued interest, except that in the case of condemnation awards, the ground lessor may be entitled to a portion of such award; (K) Under the terms of the ground lease and the related Mortgage, any related insurance proceeds, or condemnation award in respect of a total or substantially total loss or taking of the related Mortgaged Property will be applied first to the payment of the outstanding principal balance of the Mortgage Loan, together with any accrued interest (except as provided by applicable law or in cases where a different allocation would not be viewed as commercially unreasonable by any institutional investor, taking into account the relative duration of the ground lease and the related Mortgage and the ratio of the market value of the related Mortgaged Property to the outstanding principal balance of such Mortgage Loan). Until the principal balance and accrued interest are paid in full, neither the lessee nor the lessor under the ground lease will have an option to terminate or modify the ground lease without the prior written consent of the lender as a result of any casualty or partial condemnation, except to provide for an abatement of the rent; and (L) Provided that the lender cures any defaults which are susceptible to being cured, the lessor has agreed to enter into a new lease upon termination of the ground lease for any reason, including rejection of the ground lease in a bankruptcy proceeding; (xxxii) With respect to any Mortgage Loan where all or a material portion of the estate of the related borrower therein is a leasehold estate, but the related Mortgage also encumbers the related lessor's fee interest in such Mortgaged Property: (a) such lien on the related fee interest is evidenced by the related Mortgage, (b) such Mortgage does not by its terms provide that it will be subordinated to the lien of any other mortgage or encumbrance upon such fee interest, (c) upon the occurrence of a default under the terms of such Mortgage by the related borrower, any right of the related lessor to receive notice of, and to cure, such default granted to such lessor under any agreement binding upon the Seller would not be considered commercially unreasonable in any material respect by prudent commercial mortgage lenders, (d) the related lessor has agreed in a writing included in the related mortgage file that the related ground lease may not be amended or modified without the prior written consent of the lender and that any such action without such consent is not binding on the lender, its successors or assigns, and (e) the related ground lease is in full force and effect, and the Seller has no actual knowledge that any default beyond applicable notice and grace periods has occurred or that there is any existing condition which, but for the passage of time or giving of notice, would result in a default under the terms of such ground lease; (xxxiii) With respect to Mortgage Loans that are cross-collateralized or cross-defaulted, all other loans that are cross-collateralized by or cross-defaulted with such Mortgage Loans are being transferred to the Depositor; (xxxiv) Neither Seller nor any affiliate thereof has any obligation to make any capital contribution to any borrower under a Mortgage Loan, other than contributions made on or prior to the date hereof; (xxxv) (1) The Mortgage Loan is directly secured by a Mortgage on a commercial property or multifamily residential property, and (2) the fair market value of such real property, as evidenced by an appraisal satisfying the requirements of FIRREA conducted within 12 months of the origination of the Mortgage Loan, was at least equal to 80% of the principal amount of the Mortgage Loan (a) at origination (or if the Mortgage Loan has been modified in a manner that constituted a deemed exchange under Section 1001 of the Code at a time when the Mortgage Loan was not in default or default with respect thereto was not reasonably foreseeable, the date of the last such modification) or (b) at the date hereof; provided that the fair market value of the real property must first be reduced by (A) the amount of any lien on the real property interest that is senior to the Mortgage Loan and (B) a proportionate amount of any lien that is in parity with the Mortgage Loan (unless such other lien secures a Mortgage Loan that is cross-collateralized with such Mortgage Loan, in which event the computation described in (a) and (b) shall be made on an aggregated basis); (xxxvi) There are no subordinate mortgages encumbering the related Mortgaged Property, nor are there any preferred equity interests held by the Seller or any mezzanine debt related to such Mortgaged Property, except as set forth in the Prospectus Supplement, this Exhibit A or in the Exception Report to this Mortgage Loan Purchase Agreement; (xxxvii) The Mortgage Loan Documents executed in connection with each Mortgage Loan having an original principal balance in excess of $5,000,000 require that the related borrower be a single-purpose entity (for this purpose, "single-purpose entity" shall mean an entity, other than an individual, having organizational documents which provide substantially to the effect that it is formed or organized solely for the purpose of owning and operating one or more Mortgaged Properties, is prohibited from engaging in any business unrelated to such property and the related Mortgage Loan, does not have any assets other than those related to its interest in the related Mortgaged Property or its financing, or any indebtedness other than as permitted under the related Mortgage Loan); (xxxviii) Each Mortgage Loan prohibits the related borrower from mortgaging or otherwise encumbering the Mortgaged Property without the prior written consent of the mortgagee or the satisfaction of debt service coverage or similar criteria specified therein and, except in connection with trade debt and equipment financings in the ordinary course of borrower's business, from carrying any additional indebtedness, except, in each case, liens contested in accordance with the terms of the Mortgage Loans or, with respect to each Mortgage Loan having an original principal balance of less than $4,000,000, any unsecured debt; (xxxix) Each borrower covenants in the Mortgage Loan documents that it shall remain in material compliance with all material licenses, permits and other legal requirements necessary and required to conduct its business; (xl) Each Mortgaged Property (a) is located on or adjacent to a dedicated road, or has access to an irrevocable easement permitting ingress and egress, (b) is served by public utilities and services generally available in the surrounding community or otherwise appropriate for the use in which the Mortgaged Property is currently being utilized, and (c) constitutes one or more separate tax parcels or is covered by an endorsement with respect to the matters described in (a), (b) or (c) under the related title insurance policy (or the binding commitment therefor); (xli) Based solely on a flood zone certification or a survey of the related Mortgaged Property, if any portion of the improvements on the Mortgaged Property is located in an area identified by the Federal Emergency Management Agency or the Secretary of Housing and Urban Development as having special flood hazards categorized as Zone "A" or Zone "V" and flood insurance is available, the terms of the Mortgage Loan require the borrower to maintain flood insurance, or at such borrower's failure to do so, authorizes the Lender to maintain such insurance at the cost and expense of the borrower; (xlii) To the knowledge of the Seller, with respect to each Mortgage which is a deed of trust, a trustee, duly qualified under applicable law to serve as such, currently so serves and is named in the deed of trust or has been substituted in accordance with applicable law or may be substituted in accordance with applicable law by the related mortgagee, and except in connection with a trustee's sale after a default by the related borrower, no fees are payable to such trustee; (xliii) RESERVED. (xliv) Except as disclosed in the Exception Report to this Mortgage Loan Purchase Agreement, to the knowledge of the Seller as of the date hereof, there was no pending action, suit or proceeding, arbitration or governmental investigation against any borrower or Mortgaged Property, an adverse outcome of which would materially and adversely affect such borrower's ability to perform under the related Mortgage Loan; (xlv) No advance of funds has been made by the Seller to the related borrower (other than mezzanine debt and the acquisition of preferred equity interests by the preferred equity interest holder, as disclosed in the Prospectus Supplement), and no funds have, to the Seller's knowledge, been received from any person other than, or on behalf of, the related borrower, for, or on account of, payments due on the Mortgage Loan; (xlvi) To the extent required under applicable law, as of the Cut-off Date or as of the date that such entity held the Note, each holder of the Note was authorized to transact and do business in the jurisdiction in which each related Mortgaged Property is located, or the failure to be so authorized did not materially and adversely affect the enforceability of such Mortgage Loan; (xlvii) All collateral for the Mortgage Loans is being transferred as part of the Mortgage Loans; (xlviii) Except as disclosed in the Exception Report to this Mortgage Loan Purchase Agreement or the Prospectus Supplement with respect to the Crossed Loans and Multiple Property Loans, no Mortgage Loan requires the lender to release any portion of the Mortgaged Property from the lien of the related Mortgage except upon (a) payment in full or defeasance of the related Mortgage Loan, (b) the satisfaction of certain legal and underwriting requirements that would be customary for prudent commercial mortgage lenders, (c) releases of unimproved out-parcels or (d) releases of portions of the Mortgaged Property which will not have a material adverse effect on the use or value of the collateral for the related Mortgage Loan; (xlix) Except as provided in paragraphs (xxxi) (J) and (K) above, any insurance proceeds in respect of a casualty loss or taking will be applied either to (a) the repair or restoration of all or part of the related Mortgaged Property, with, in the case of all casualty losses or takings in excess of a specified amount or percentage of the related loan amount that a prudent commercial lender would deem satisfactory and acceptable, the lender (or a trustee appointed by it) having the right to hold and disburse such proceeds as the repair or restoration progresses (except in any case where a provision entitling another party to hold and disburse such proceeds would not be viewed as commercially unreasonable by a prudent commercial mortgage lender) or (b) to the payment of the outstanding principal balance of such Mortgage Loan together with any accrued interest thereon; (l) Each Form UCC-1 financing statement, if any, filed with respect to personal property constituting a part of the related Mortgaged Property and each Form UCC-2 or UCC-3 assignment, if any, of such financing statement to the Seller was, and each Form UCC-3 assignment, if any, of such financing statement in blank which the Trustee or its designee is authorized to complete (but for the insertion of the name of the assignee and any related filing information which is not yet available to the Seller) is, in suitable form for filing in the filing office in which such financing statement was filed; (li) To the Seller's knowledge, (a) each commercial lease covering more than 10% (20% in the case of any Mortgage Loan having an original principal balance less than $2,500,000) of the net leaseable area of the related Mortgaged Property is in full force and effect and (b) there exists no default under any such commercial lease either by the lessee thereunder or by the related borrower that could give rise to the termination of such lease; (lii) Based upon an opinion of counsel and/or other due diligence considered reasonable by prudent commercial mortgage lenders, the improvements located on or forming part of each Mortgaged Property comply with applicable zoning laws and ordinances, or constitute a legal non-conforming use or structure or, if any such improvement does not so comply, such non-compliance does not materially and adversely affect the value of the related Mortgaged Property. With respect to properties with a Stated Principal Balance of over $10,000,000, if the related Mortgaged Property does not so comply, to the extent the Seller is aware of such non-compliance, it has required the related Borrower to obtain law and ordinance insurance coverage in amounts customarily required by prudent commercial mortgage lenders; (liii) Each Mortgage Loan constitutes a "qualified mortgage" within the meaning of Section 860G(a)(3) of the Code (but without regard to the rule in Treasury Regulation (as defined herein) Section 1.860G-2(f)(2) that treats a defective obligation as a qualified mortgage or any substantially similar successor provision) and all Prepayment Premiums and Yield Maintenance Charges constitute "customary prepayment penalties" within the meaning of Treasury Regulation Section 1.860G-1(b)(2); (liv) With respect to any Mortgage Loan that pursuant to the Mortgage Loan Documents can be defeased, (i) the Mortgage Loan cannot be defeased within two years after the Closing Date, (ii) the borrower can pledge only United States government securities in an amount sufficient to make all scheduled payments under the Mortgage Loan when due, (iii) the borrower is required to provide independent certified public accountant's certification that the collateral is sufficient to make such payments, (iv) the loan may be required to be assumed by a single-purpose entity designated by the holder of the Mortgage Loan, (v) the borrower is required to provide an opinion of counsel that the trustee has a perfected security interest in such collateral prior to any other claim or interest, (vi) the borrower is required to pay all Rating Agency fees associated with defeasance (if rating confirmation is a specific condition precedent thereto) and all other reasonable expenses associated with defeasance, including, but not limited to, accountant's fees and opinions of counsel, (vii) with respect to any Significant Loan (as defined in the Pooling and Servicing Agreement), the borrower is required to provide an opinion of counsel that such defeasance will not cause any REMIC created under the Pooling and Servicing Agreement to fail to qualify as a REMIC for federal or applicable state tax purposes and (viii) with respect to any Significant Loan (as defined in the Pooling and Servicing Agreement), the borrower must obtain confirmation from each Rating Agency that the defeasance would not result in such Rating Agency's withdrawal, downgrade or qualification of the then current rating of any class of Certificates rated by such Rating Agency; (lv) The Mortgage Loan Documents for each Mortgage Loan provide that the related borrower thereunder shall be liable to the Seller for any losses incurred by the Seller due to (i) the misapplication or misappropriation of rents, insurance proceeds or condemnation awards, (ii) any willful act of material waste, (iii) any breach of the environmental covenants contained in the related Mortgage Loan Documents, and (iv) fraud by the related Borrower; provided that, with respect to clause (iii) of this sentence, an indemnification against losses related to such violations or environmental insurance shall satisfy such requirement; (lvi) If such Mortgage Loan is an ARD Loan, it commenced amortizing on its initial scheduled Due Date and provides that: (i) its Mortgage Rate will increase by no more than two percentage points in connection with the passage of its Anticipated Repayment Date and so long as the Mortgage Loan is an asset of the Trust Fund; (ii) its Anticipated Repayment Date is not less than seven years following the origination of such Mortgage Loan; (iii) no later than the related Anticipated Repayment Date, if it has not previously done so, the related borrower is required to enter into a "lockbox agreement" whereby all revenue from the related Mortgaged Property shall be deposited directly into a designated account controlled by the Master Servicer; and (iv) any cash flow from the related Mortgaged Property that is applied to amortize such Mortgage Loan following its Anticipated Repayment Date shall, to the extent such net cash flow is in excess of the Monthly Payment payable therefrom, be net of budgeted and discretionary (servicer approved) capital expenditures; and (lvii) Except as disclosed in the Prospectus Supplement, no Mortgage Loan, and no group of Mortgage Loans made to the same borrower and to borrowers that are affiliates, accounted for more than 5.0% of the aggregate of the Stated Principal Balances of all of the Mortgage Loans, all the mortgage loans sold to the Depositor by KeyBank National Association ("KeyBank") pursuant to that certain Mortgage Loan Purchase Agreement dated as of March 1, 2002 between the Depositor and KeyBank and all the mortgage loans sold to the Depositor by Column Financial Inc. ("Column") pursuant to that certain Mortgage Loan Purchase Agreement dated as of March 1, 2002 between the Depositor and Column, as of the Cut-Off Date. EXHIBIT B AFFIDAVIT OF LOST NOTE STATE OF NEW YORK ) ) ss.: COUNTY OF NEW YORK ) , being duly sworn, deposes and says: 1. that he is an authorized signatory of PNC Bank, National Association ("PNC Bank"); 2. that PNC Bank is the owner and holder of a mortgage loan in the original principal amount of $___________ secured by a mortgage (the "Mortgage") on the premises known as ___________ ___________ located in _____________; 3. (a) that PNC Bank , after having conducted a diligent investigation of its records and files, has been unable to locate the following original note and believes that said original note has been lost, misfiled, misplaced or destroyed due to a clerical error: a note in the original sum of $____________ made by ______________, to PNC Bank, under date of ______________ (the "Note"); 4. that the Note is now owned and held by PNC Bank; 5. that the Note has not been paid off, satisfied, assigned, transferred, encumbered, endorsed, pledged, hypothecated, or otherwise disposed of and that the original Note has been either lost, misfiled, misplaced or destroyed; 6. that no other person, firm, corporation or other entity has any right, title, interest or claim in the Note except PNC Bank; and 7. upon assignment of the Note by PNC Bank to Credit Suisse First Boston Mortgage Securities Corp. (the "Depositor") and subsequent assignment by the Depositor to the trustee for the benefit of the holders of the Credit Suisse First Boston Mortgage Securities Corp. Commercial Mortgage Pass-Through Certificates, Series 2002-CKP1 (the "Trustee") (which assignment may, at the discretion of the Depositor, be made directly by PNC Bank to the Trustee) PNC Bank covenants and agrees (a) promptly to deliver to the Trustee the original Note if it is subsequently found, and (b) to indemnify and hold harmless the Trustee and its successors and assigns from and against any and all costs, expenses and monetary losses arising as a result of PNC Bank's failure to deliver said original Note to the Trustee. PNC BANK, NATIONAL ASSOCIATION By: ___________________________________ Name: Title: Sworn to before me this day of March [ ], 2002 Loan Assignment - General Form Last Revised July 1, 2000 EXHIBIT C FORM OF ASSIGNMENT OF MORTGAGE(S) AND ASSIGNMENT OF ASSIGNMENT OF LESSOR'S INTERESTS IN LEASES, RENTS AND PROFITS ASSIGNMENT OF LOAN DOCUMENTS PNC BANK, NATIONAL ASSOCIATION (Assignor) to __________________________________ (Assignee) Dated: _____________, ____ Location: THIS INSTRUMENT WAS DRAFTED BY, AND UPON RECORDING SHOULD BE RETURNED TO: ____________________________________ ____________________________________ ____________________________________ Attention: _________________________ Loan No.: THIS ASSIGNMENT OF LOAN DOCUMENTS ("Assignment") is made as of ____________________________, ______, by PNC BANK, NATIONAL ASSOCIATION ("Assignor"), whose mailing address is 210 West 10th Street, Kansas City, Missouri 64105, in favor of ________________________________________________________________________________ ________________________________________________________________________________ ________________________________________________________________________________ ________________________________________________________________________________ _____________________________("Assignee") whose mailing address is _____________ ___________________________________. . RECITALS: A. Assignor is the legal and equitable owner and holder of that certain Promissory Note dated [___], made by [____], [____] ("Borrower"), in the original principal amount of [____] and No/100 Dollars ($[____]) (the "Note"). B. Assignor is also the legal and equitable owner and holder of certain instruments securing the Note, including, without limitation, the following: (i) the [____], Security Agreement, Assignment of Leases and Rents and Fixture Filing (the "Security Instrument") dated [____], executed by Borrower in favor of Assignor, filed for record _____________, ______, in the Office of the Register of Deeds, Recorder of Deeds or County Clerk, as applicable, in and for [____] County, [____] (the "Recording Office") in Book _____________________, at Page ___________________, encumbering certain improved real property (the "Mortgaged Property") situated in said County, as more particularly described on Exhibit A attached hereto and made a part hereof; and (ii) the Assignment of Leases and Rents (the "Assignment of Leases") dated [____], executed by Borrower in favor of Assignor, filed for record _____________, ______, in the Recording Office in Book _____________________, at Page ___________________. C. Assignor and Assignee desire that the Security Instrument, the Assignment of Leases, the Note, the Other Security Documents (as defined in the Security Instrument), and all other documents executed in connection with the Loan (including, without limitation any indemnities or guaranties of the Loan, if any) (all such documents being collectively referred to herein as the "Loan Documents") be assigned to Assignee. D. Assignor has simultaneously herewith endorsed the Note to Assignee. NOW THEREFORE, in consideration of the foregoing and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged: 1. Assignor does hereby sell, assign, grant, transfer, set over and convey to Assignee, its successors and assigns, all of the Loan Documents (and all of Assignor's right, title and interest therein), including without limitation, the Security Instrument, the Assignment of Leases, the Note and the Other Security Documents. 2. This Assignment shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns. 3. This Assignment shall be governed by and construed in accordance with the laws of the state in which the Mortgaged Property is located. IN WITNESS WHEREOF, the undersigned has executed this Assignment of Loan Documents to be effective as of the day and year first above mentioned. ASSIGNOR PNC BANK, NATIONAL ASSOCIATION By: __________________________________ ___________________________________ STATE OF ) ) ss.: COUNTY OF ) On this _____________ day of ______________ , 2002, before me the undersigned, a NOTARY PUBLIC OF _________________________ , personally appeared ____ , as ________ of PNC Bank, National Association, a national banking association, who, I am satisfied, was the maker of the foregoing instrument and who then stated and acknowledged to me that, as such officer and maker (1) he was authorized to execute the foregoing instrument on behalf of said company and (2) he executed said instrument as the act and deed of said company. IN TESTIMONY WHEREOF, I have hereunto set my hand and affixed my official seal at my office in ________________________________________ the day and year last above written. Signature______________________________ Print Name_____________________________ Residing at____________________________ _____________________________ _____________________________ A NOTARY PUBLIC OF_____________________ [AFFIX SEAL] My Commission expires on____________________ ASSIGNMENT OF MORTGAGE AND ASSIGNMENT OF ASSIGNMENT OF LESSOR'S INTERESTS IN LEASES, RENTS AND PROFITS COLUMN FINANCIAL, INC. TO WELLS FARGO BANK MINNESOTA, N.A., AS TRUSTEE RECORD AND RETURN TO: